Welcome to RLT Live-In Flip Course
Thank you for checking out our free Live-In Flip course!
We’re thrilled to have you join us on this journey to learn the ins and outs of this exciting real estate strategy. We are passionate about helping people build wealth through real estate. Buying a fixer-upper and fixing it up can be the most accessable way for people to get started in real estate investing.
This course features a comprehensive series of 10 detailed videos, each walking you through the key steps and processes involved in successfully executing a live-in flip.
From planning and budgeting to renovations and resale, these videos are designed to provide you with all the tools and knowledge you need to succeed. Simply click on the videos below to get started, and let’s dive into the world of live-in flipping together!
VRA Realty
The Rob Lawrence Team
484-354-9222
rob@roblawrenceteam.com
LESSON 1: INTRODUCTION
This introductory video sets the foundation for your journey to live-in flips. Designed for beginners and aspiring investors, this course will guide you step-by-step through the straegies, tools, and mindset needed to succeed in real estate investing.
LESSON 2: WHAT IS A LIVE-IN FLIP?
In lesson 2, we'll take a deep dive into the concept of a live-in flip, breaking down exactly what is is and how it works. A live-in flip is much more than just buying and selling a house-it's a powerful wealth-building strategy that allows you to combine homeownership with real estate investing. In this lesson, we'll walk you through the fundamentals of this approach, showing you how a live in a property while strategically increasing it's value for maximum profit.
LESSON 3: WHAT IS A HOUSE HACK?
In Lesson 3, we delve into the concept of house hacking, a unique real estate investment strategy that allows you to live in your property while generating income. We’ll compare and contrast house hacking with a live-in flip, helping you understand the similarities and key differences between these two powerful approaches to building wealth.
Special guest Scott Darling shares his firsthand experience with house hacking, recounting how he leveraged this low-risk strategy to build confidence and take his first step into real estate investing.
LESSON 4: PROS AND CONS OF
A LIVE-IN FLIP
In Lesson 4, we explore the advantages and disadvantages of a live-in flip, helping you weigh the benefits and challenges of this real estate investment strategy. On the plus side, live-in flips offer tax benefits, the opportunity to capitalize on property appreciation over two years, and the flexibility to renovate at your own pace.
However, this strategy is not without its challenges. You may need to live in the property while it’s under construction or, in extreme cases, find alternative housing until the home becomes livable. For severely distressed properties, managing the process can be particularly demanding.
LESSON 5: WHAT DO YOU NEED TO DO A LIVE-IN FLIP
In Lesson 5, we dive into the critical components of financial readiness and the invaluable role of networking in real estate success. This lesson covers the credit score benchmarks you should aim for, the income requirements to consider, and strategies for assembling an appropriate down payment. Rob also shares expert insights on the importance of building a solid network of contractors and how these relationships can save you time, money, and stress throughout your real estate journey.
LESSON 6: LIVE-IN FLIP MATH
In Lesson 6, we explore one of the most critical aspects of real estate flipping: understanding the math that drives successful deals. This lesson emphasizes the importance of educating yourself on the financial intricacies of flipping before taking the plunge. Rob will walk you through a detailed breakdown of the numbers, teaching you how to accurately calculate your offer price, estimate renovation costs, and determine your potential return on investment. With a clear, step-by-step approach, you'll gain the tools to confidently analyze properties and make data-driven decisions.
LESSON 7: HOW TO FINANCE A LIVE-IN FLIP
In Lesson 7, Rob is joined by a special guest, our very own Zack, a former loan officer with extensive experience in real estate financing. Together, they delve into the wide range of funding options available for your live-in flip, offering invaluable insights to help you make informed decisions. Zack will break down the nuances of different loan types, including FHA, conventional, VA, and hard money loans, and explain what each option means for your project. You’ll learn about the pros and cons of each financing method, eligibility requirements, and how to choose the right option based on your financial situation and investment goals.
LESSON 8: MAKING A RENNOVATION PLAN
In Lesson 8, we take a deep dive into the art and science of creating a renovation plan that maximizes both efficiency and resale value. Rob will guide you through the critical process of identifying which parts of a home are worth renovating to yield the highest return on investment. From kitchens and bathrooms to structural updates and curb appeal enhancements, you’ll learn how to prioritize renovations that significantly increase the market value of your property.
Rob will also share a detailed, real-world example by walking you through the renovation plan he created for one of his own flip project. He’ll break down the costs of each improvement and explain how he balanced budget considerations with potential value-adds.
LESSON 9: INVESTING WITH THE NEXT STEPS IN MIND
In Lesson 9, we’ll focus on the critical step of planning your next moves after completing your live-in flip. Rob will guide you through the different exit strategies available, helping you understand how to align your choices with your long-term financial and investment goals. You’ll explore options such as selling the home after living in it for two years to take advantage of potential tax benefits, renting it out and purchasing a new property, or even renting or selling it to fund another live-in flip project.
Rob also dives deep into the financial benefits of holding onto your live-in flip as an investment property, discussing how it can generate passive income while building equity. Additionally, you’ll learn how to leverage tools like a home equity line of credit (HELOC) to fund new projects or purchase your next home.
LESSON 10: MAKING YOUR LIVE-IN FLIP HAPPEN
Congratulations on making it to the final lesson of this course! Now is the time to turn your knowledge into action and begin your journey toward a successful live-in flip. Throughout this course, you’ve gained valuable insights into every aspect of the process—from understanding financial requirements and renovation planning to mastering flipping math and exploring financing options.
In this lesson, we emphasize that you’re not alone on this journey. The Rob Lawrence Team is here to guide you every step of the way. With our extensive experience helping dozens of clients complete successful live-in flips, we’re committed to ensuring your success. We’ll assist you in identifying great deals, making competitive offers, recommending trusted contractors, and analyzing the numbers to maximize your profits.
This lesson is your call to action. With the tools, resources, and support from our team, you’re well-equipped to take the next step and start building your wealth through real estate. Let’s get started on making your live-in flip dream a reality!