In this episode, we dive into how Donny Coram managed to flip hundreds of houses while working a full-time job! 💼🏡 Donny shares his journey from starting as a real estate agent during the 2007-2008 foreclosure crisis to building a successful flipping business—all while balancing his day job. 🏢 He explains the ins and outs of finding, funding, fixing, and flipping houses with a system that lets you keep your 9-to-5 while building wealth on the side. 🔨
Donny also touches on key strategies for managing stress and maintaining a work-life balance, ensuring that his real estate business didn’t take over his personal life. 🧘♂️ His story is perfect for those who think they don’t have time for real estate investing due to job or business commitments! 📚
If you're ready to learn how to invest in real estate without quitting your day job, this episode is packed with insights to help you succeed. 📈
🎯 Key Highlights:
Donny's Real Estate Journey: From a real estate agent to a full-time investor, Donny shares how he got started in the world of real estate investing. 🏢
Flipping Houses with a Job: Donny explains how he managed to complete hundreds of flips while maintaining a day job, including his most notable transactions like the #SpringsHellHouse. 🔨
Foreclosure Deals: He provides insights into how to find, fund, and flip homes even while working a full-time job. 📚
Managing Stress: Donny shares his challenges and strategies for maintaining balance between his real estate business and personal life. 🧘♂️
🏘️ Real Estate Transaction Discussed During the Show: Take Notes and Learn
One of Donny’s most well-known deals was the Springs Hell House, a property he bought for $580,000 after it made national news due to extreme conditions. He and his team invested $130,000 in renovations, selling it for $845,000, and making a profit of $130,000. This transaction illustrates the importance of finding the right deals and leveraging media attention to increase value. 📊
Another transaction Donny discussed was a deal with his client, Sam, who purchased a property in Pueblo, Colorado, while living in New Jersey. Even though she never saw the property in person, Donny's team helped her manage the project from start to finish. The property was purchased for $130,000, remodeled for $35,000, and sold for $225,000—making Sam more than her target profit of $25,000. 💰
🛠 Coaching Round Recap: Balancing Life and Business
Starting Small: Donny encourages new investors to start with one flip at a time. Even with a full-time job, you can achieve success by taking action consistently.
Leveraging Other People’s Time: Donny's system allows his clients to use local project managers and a remote team to help handle the heavy lifting while they maintain their day jobs.
Balance is Key: Donny stresses the importance of maintaining work-life balance and not burning out. He shares how taking time for himself and his family helped him stay grounded while running a high-volume flipping business.
📚 Top Book Recommendation:
Donny highly recommends "The Power of One More" by Ed Mylett. This book has greatly influenced him, emphasizing the importance of going the extra mile. Whether it's making one more phone call or doing one more flip, this mindset has helped him excel in both business and life.
💼 Connect with Donny:
You can find Donny on LinkedIn as Donny Coram if you’d like to connect and learn more about his real estate journey. 🤝donny@donnycoram.com
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