In this episode, I interview Danny Johnson. Danny and his wife form a real estate investing team that buys and sells between 25 to 30 houses per year in their hometown of San Antonio, Texas.
We discuss topics such as how to manage contractors. Danny and I both agree that hiring a general contractor is the way to go. Subcontracting out all the various aspects of your rehab job is simply too time-consuming, and does not allow you to scale your business effectively.
Danny credits Ron LeGrand with getting him started in real estate, and helping him learn the ropes in the early stages. Danny also mentions Steve Cook as someone who he has followed closely, and whose material he has read.
Danny shares a very funny story about speaking to his first motivated seller. He got so nervous and scared when the first motivated seller called him that he actually threw the phone at his wife and made her talk to the seller because he couldn’t muster up the nerve. It was a very funny and honest story about the fear associated with getting out there and talking to sellers.
We also discuss the importance of maybe starting out as a bird dogger. A bird dogger is someone who just finds good deals and gives those to experienced investors for a fee. This allows you to get your feet wet and create relationships with some of the experienced investors in your market.
If he had to start his business over again tomorrow, Danny says that his first order of business would be to crank up his marketing machine. He would do this, initially at least, through bandit signs (see below for a link to Danny’s source for bandit signs).
Flipping Houses Exposed: 34 Weeks In The Life Of A Successful House Flipper – Danny’s person journey to real estate success!
SuperCheapSigns.com – Bandit Signs