The Lo-Down
The Lo-Down brings you conversations with extraordinary individuals from all walks of life who are relentlessly pursuing success. Hosted by Lorenzo Mercado, a registered nurse turned real estate investor, this podcast dives into the stories behind the grind and uncovering the mindset and strategies that drive growth. From entrepreneurs and season investors to business owners and visionaries, every guest shares a unique perspective on what it takes to achieve success. Whether you're building a business, chasing a dream, or striving for personal growth, The Lo-down is your source for inspiration, actionable insights, and the motivation to level up.
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The Lo-Down
Building A Million Dollar Flipping Business While Working Cybersecurity | Hemant Toteja E7
In this episode of The Lo-Down, I interview Hemant Toteja.
He is the first house flipper to come on to the show and he is crushing it here in the Bay Area. Hemant works full time in cybersecurity tech but has been able to build a successful million dollar house flipping business.
He shares his journey and dives into key strategies for finding off-market deals, building relationships with agents, and utilizing various strategies for marketing. Hemant also opens up about the lessons he learned from both his successful flips and the early challenges he faced, including contractor issues and partnerships gone wrong.
Whether you are an experienced flipper or looking to get into the game, this episode will provide you with a ton of value. If you enjoy the show, I would really appreciate it if you could share the episode with others.
Key takeaways:
- Flipping can provide significant income in a short time.
- Building relationships with real estate agents is crucial for finding deals.
- Marketing strategies like PPC and cold calling can be effective.
- Having a good team is essential for successful flipping.
- Mistakes in early deals can provide valuable lessons.
- Focus on one investment strategy to achieve success.
- Networking can lead to more opportunities and deals.
- Understanding the local market is key to successful renovations.
- Hard money loans can be a useful financing option for flips.
- Maintaining a work-life balance is important for long-term success.
Chapters
00:00 Introduction to Flipping and Background
02:48 Finding Off-Market Deals
06:09 Marketing Strategies for Flipping
08:55 Building Relationships in Real Estate
12:03 The Flipping Process and Renovation Insights
14:51 Lessons from First Deals and Mistakes
17:59 The Importance of a Good Team
20:51 Financing and Hard Money Loans
23:47 Balancing Tech Career and Real Estate
27:03 Long-Term Goals and Future Plans
29:51 Building a Rental Portfolio
33:05 Key Takeaways and Final Thoughts