MFREE MFREE 124 Trailer # 4 with Brandon Cobb: What Changes When Your Perspective Gets Bigger?

0:00my first real estate deal I ever did. I literally sold all of my retirement accounts. I paid all the penalties to buy this house cash to flip it. And that's what started my real estate journey. By the way, for listening to this, don't freaking do that. But I made about $30,000 from that first flip. And I literally turned around and I dumped it into marketing. And so for the first three, four years, I pretty much took that money dumped it in and I kept growing and doing more and more. Well, we built that up to doing 35, 40 house flips and wholesale deals per year. And one day, we had the opportunity to buy a house that had fire damage. And I saw that we could buy it for less than what the land was worth. So we rebuilt that house. And again, I was used to doing the full gut rehab. This didn't scare me quite as much because it was like halfway to a full cut rehab. So we reframed everything up, sold that house. That was our first new construction project. We made three times the amount of money building that house new as we did flipping houses.

1:03And we did it in less time than some of these full gut rehabs. And that was the light bulb like why are we flipping out? We should be building houses. So we started going out hunting all these new builds, built that up, doing 30 houses a year, and then said, why are we going after all these little lots that we can build one or two homes on? We need to be going after parcels of land that we can build 30, 40, 50 homes on.