Did you know?
There’s a National Real Estate Investors’ Association...
The first step for any real estate investor or aspiring investor is to connect with your local Real Estate Investors’ Association. This is especially beneficial if you are interested in a coaching program or flipping houses. Visit the National Real Estate Investors’ site at https://nationalreia.org/benefits/ to locate a local chapter.
And then There are Local Chapters...
Real Estate Investors’ Associations typically hold monthly meetings, often featuring a speaker to discuss various topics related to real estate, including strategies for flipping houses. Additionally, some organizations offer smaller, regular meetings. While you don’t need to join to attend a meeting, there may be a fee for non-members. However, membership dues are quite affordable, and it pays off to network with other real estate investors who have deep knowledge of the local market. Don’t hesitate to join, as real estate investors are generally very welcoming and supportive, even those involved in coaching programs.
Membership Benefits
By joining a chapter of the National Real Estate Investors Association (REIA), you become eligible for the Home Depot discount. This membership is especially beneficial for those involved in real estate investing or a coaching program focused on flipping houses. The REIA (Real Estate Investors Association) Home Depot discount offers members a 2% biannual rebate on qualifying purchases over $12,500, along with 20% off paints, volume pricing, and appliance/cabinet discounts through the National REIA Pro Xtra program. To earn these savings, registration and specific payment methods linked to the program are required. Additionally, Home Depot provides free delivery to those who hold a pro account, a benefit that every investor can take advantage of.
The National Real Estate Investors Organization has also partnered with various companies. You can find a list of participating companies on their website.
Expert Advice
Our local REIA's coaching program was instrumental in helping us grow our company. Not only did the members provide expert mentoring for flipping houses, but the relationships we built with fellow real estate investors who offered hard money loans propelled our business from $0 to $120k within the first year.
Sourcing Materials for Your Flip
Part of the fun of flipping houses is choosing the decor. Selecting cabinets, fixtures, hardware, appliances, tile, backsplashes, and the countless elements that bring the property together can be an exciting process. There are many material resource centers offering new materials at discounted prices. When you shop or visit these places, take a moment to introduce yourself to the manager. Share the types of projects you are involved in and the materials you seek. Before long, you’ll find yourself receiving calls about good deals. Even the pro manager at Home Depot might surprise you with information on returned appliances available for a fraction of their retail price.
Through my experience, I’ve purchased cabinets to outfit an entire kitchen for just $2500. One warehouse consistently had $350 toilets for only $40. Items like doorknobs, hardware, light fixtures, faucets, windows, and doors are just a few examples of what you can buy at deep discounts when you know where to go. These savings can be redirected towards upgrades or extras that significantly enhance the property’s appeal when it comes time to list. If you’re considering entering this field, a coaching program for real estate investors can provide valuable insights and strategies to maximize your flipping success.
Staging Your Properties
If you plan on flipping more than one property, it may be worthwhile to purchase some furniture to stage your finished projects.
Artwork, curtains, rugs, knick-knacks, a fusball table and other games can be re-used over and over. I have purchased second hand living room sets I’ve also rented furniture for a few months to make a statement.