Meet Violet Moran, a real estate expert who turned a setback into a success story! Brian and Violet discuss deal sourcing, financing, and avoiding over-leverage in the real estate market. Tune in for valuable insights from their experiences!
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Welcome house flipper Violet Moran!
Violet Moran shares her journey into real estate as she started investing accidentally! She began flipping and renting houses when she was 22 years old. She prepared for the market crash by pulling out all her money from her current investments to invest in one larger property. This experience turned out to be a scam and she ended up losing $700k. Thankfully, she had other money saved and was able to move and get a job to grow her active income.
After that, she took a break from real estate for about 10 years. Brian shares how a lot of people got burned in real estate these past few years and mentions that everyone loses in real estate sometimes, but shouldn’t give up!
Brian and Violet dive deep into how Violet got back into real estate. She flips houses for massive profits! She finds deals through agents and wholesalers only, no direct-to-seller deals. Violet also goes on to explain how she made over $1 million on a house flip without having any money in the deal (besides rehab costs). Brian and Violet discuss the details on how they get hard money, including their favorite lenders, construction, exit strategies, and more.
Brian shares how he struggled with being a broke house flipper, and Violet relates. Brian was making a ton of money, but kept investing in his real estate projects. Violet shares how she now focuses on partnering to keep cash flow. Usually, real estate investors are equity-rich but cash flow-poor. Violet even goes on to share that since her projects are so large, it can take months to a year to finish a luxury flip.
Don’t over-leverage your money. Brian shares how many students in Wealthy Investor were over-leveraged and got hit hard when interest rates were raised. Many investors got inflated egos and were too confident. Brian shares his experiences offloading his deals and even losing money on them.