Is it possible to go from firefighter to real estate mogul? Just ask Jeff Wallenius, who started with a single flip, financed entirely with hard money. He was able to parlay that early success into a profitable flipping business and has been flipping 10-12 houses a year in the Portland market for the last five years. Now, he’s set his sights even higher, has created a couple of funds, and is buying cash flowing turnkey real estate around the country.

In This Episode We Cover:

Jeff’s transition from firefighting to real estate investing
His first flip
What exactly a “cash flow negative” spouse is
The numbers on that first deal
How he sold it
How to price your property
Why he went back in 2012 after the crash
The indicator of a good partner
How he scales his flipping business
What he thinks buying out-of-state
Tips for “riding along” with someone to learn more
How to build an investment fund
Why he sees safety and performance as his bull’s eye
What turnkey is and how someone can vet one
His next goal: acquiring 150 houses in his portfolio
And SO much more!

Links from the Show

Books Mentioned in this Show

Rich Dad Poor Dad by Robert Kiyosaki
Set for Life by Scott Trench
Talent is Overrated by Geoffrey Colvin

Fire Round Questions

Long distance rehab: hire project manager, or pass?
Let’s get real about starting out

Tweetable Topics:

“You don’t want to be the cheapest property in the market.” (Tweet This!)
“I’d like to align myself with people that have good morals that are going to do the right thing when it’s hard.” (Tweet This!)
“Flipping is great, but when we stop flipping, the money ends.” (Tweet This!)

Connect with Jeff

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241: From Local Flips to Raising Funds and Turnkey Investing Around the Country with Jeff Wallenius 01:18:23

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241: From Local Flips to Raising Funds and Turnkey Investing Around the Country with Jeff Wallenius