How Frank Got His First House Flip (IN LESS THAN 90 DAYS!)

In this video, Peter Soros, Head Coach at RealEstateSkills.com, sits down with student Frank—a full-time professional who just landed his first fix and flip deal during the first week of 2025.

Frank shares exactly how he went from reading "Rich Dad, Poor Dad" to closing a $465K ARV fix & flip deal with the support and training he received inside the Ultimate Investor Program at RealEstateSkills.com.

Frank’s goal is clear—build wealth, create a legacy for his family, and eventually start buying rental properties across the country. Right now, he’s focused on building momentum by doing 2 deals a month to offset his income and transition into full-time investing.

Frank shares how he found the lead through a wholesale resource, ran the numbers with our deal calculator, and confidently negotiated and closed the deal with his business partners.

If you want to learn EXACTLY how to start flipping houses visit: How To Flip A House With No Experience: A First-Timer's Guide

*For in-depth training on real estate investing, Real Estate Skills offers extensive courses to get you ready to make your first investment! Attend our FREE Webinar Training and gain insider knowledge, expert strategies, and essential skills to make the most of every real estate opportunity that comes your way!

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Peter Soros (00:00):
Hey everyone. Peter Soros here with RealEstateSkills.com. Today I'm joined with one of our students, Frank, who just got his first fix and flip deal under contract. Frank joined the program back in October and was planning on doing a wholesale deal first, but through the training he received in our program, he was able to connect with other professionals in the industry, put a joint venture together, leveraged their expertise, and they got their first fix and flip project under contract as per Frank's request, he asked to remain anonymous for this interview just to respect his relationship with his current employer. Can't wait to share his story with you. So let's jump right into it. Hey Frank, welcome. How are you doing today?

Frank (00:41):
Good, how are you?

Peter Soros (00:42):
I'm doing great. Thanks for doing this with us. I'm really excited to hear the story about how you got your first fix and flip together. Let's start off kind of from the beginning. What were you doing before you joined this Program?

Frank (00:59):
Yeah, so before I joined the program, long time ago I was in school. I was trying to work very hard, get a good grades and good, good college, and then getting my high advanced degrees, a few of them then employed by a needing company. So I was thinking, okay, that's a life and I'm going to have a good career and enjoy life. I didn't really thought about real estate before. I don't have a prior real estate experience.

Peter Soros (01:40):
Yeah, I was wondering that because you haven't done your first wholesale deal yet, you kind of jumped right into doing your first fix and flip, getting it under contract. So that's pretty exciting. So no prior real estate experience. What made you want to get into real estate to begin with? What changed all of a sudden? Or was it all of a sudden or was it over time? How did that happen?

Frank (02:08):
Many years ago, I started, my career is a good career to start providing me enough to supporting my wife and myself. But at that time, we only have two people. We don't have kids. We rented a home, life was happy and then we bought our first home. All savings was gone. Our first kid was born and we start to live paycheck by paycheck, work harder, get promoted, get more higher salary. Then second kid was born and then we moved to a more place, more expensive place. So start the paycheck by paycheck again and looking forward, the demanding for experience needs to be higher and higher, but salary increase will be limited

Peter Soros (03:15):
Of course. Yeah.

Frank (03:17):
So right. I was in a rhetoric condition. If you read a book Rich Dad Poor Dad that describe the condition, it's a hard financial condition a lot of people living. It's difficult to get out and escape from the

Peter Soros (03:36):
Rabbit race.

Frank (03:38):
Right, rabbit race. Exactly. So I think about it, wondering what's going on and what to do. I've talked to one of my family friends, he has experience in real estate investment and is him who gave me the book Rich Dad Poor Dad to read. So I read a book. It started changing my mindset, really making me think about when, what's the problem is and what are the possible solutions. And I decided I need to investment I and specifically is real estate investment. That's where my junior start.

Peter Soros (04:21):
I can remember when I first read that book too and how it changed my mindset too. So yeah, it's always a common theme when people read that book first. So it tends to change their mindset and open up horizons.

Frank (04:35):
Then I decide to go with the real estate investment. Then I bought quite a few books from Amazon from six or seven books or from different perspective to talk about real estate. But still, I wasn't able to figure out how to start until I saw the video from Alex about a wholesale. So I wouldn't say Alex is really genius and he introduced the wholesale process very well and I decided I need to make a phone call for consultation. So the first consultation is Max, but then I was distracted by, I travel overseas, it would take me a while, come back home. I made another consultation call with Mike. So after talk with Mike, I decide to join the program. It's really great talk to Mike and Max to help me to build a trust on the program, helping make a decision to join the program.

Peter Soros (05:41):
So it sounded like your struggle was, you knew what real estate could do for you, you just didn't know how to do it. What led you to us specifically? We all know there's tons of other people out there, but you chose us, so we're always kind of curious what is it brought you to us? Was it the advisors you talked to? Like you said they were just great listeners. Tell me a little bit more about that.

Frank (06:04):
Yeah, so wholesale allowed me to start in real estate without much cash. I don't have, as I said earlier, I've been negative paycheck by paycheck. I don't have much savings. Wholesale is, from what Alex said is he nailed the process step by step. I see there is a clear path there instructions to the funnel and don't need much cash. So I need is good start point for me and talk to Max and Mike and they introduced me what the program can provide, like the training and the community support, and tell me the timeline, how much time I need to spend each week. Everything is clear to me, clear to me, and I know there's direction and I know there are instructions. I know there will be support.

Peter Soros (07:02):
Got it. So that's probably what probably kept you from starting into real estate sooner was again, you'd really know how to do this. And then the question is, well how do I start? I don't have a lot of funds to get started. Most people start off market. It requires money usually a lot of time as well. And it sounds like, again, you've got a full-time job, you've got a family to take care of. You've got money in a heloc, but that's not really money you can just play around with for fun. You got to be very calculated and assess your risks properly when you use that kind of money. So that was probably was holding you back, but then you saw that we had a process and a program that basically took all those roadblocks out and then that's, I guess what you're saying is once you saw those roadblocks, you saw a path, we painted a path for you and you're like, okay, I'm going to go down this path and give it a shot. And here you are getting your first fix and flip property under contract.

(08:08):
So that's pretty great. Right. Alright, so since joining the program, you've always been working hard. You've been on the calls, we've done deal reviews together. So you were really pushing and pushing to make this work, which very proud of you for getting to this point already. What's the best thing that's happened since you've joined? Do you see any changes in your mindset? Obviously your financial life might be getting better soon. Has it changing anything personally even with your family? Because a lot of times we tend to see the changes they happen on the outside, but there's lot of internal changes that happen when we start our own business and we start having a little bit of success and people see it. A lot can start changing around you. So we're always curious to hear what's been changing in Frank's world since you joined the program.

Frank (09:11):
Yeah. First of all, thank you so much for helping me answer my questions. Those KPI call we KPI call and help stay late to review, help me review the deals and really appreciate this. Tremendous help for me. So the real change, I would say making me really excited, entrepreneurship type of thing versus working corporations, very different mindset than life and almost every day you feel the power to drive you forward. And at this, for myself, I know what I want. I know together I need to work harder. And whenever there is, I get a help from a community or I can being part of it, I feel supported. And my family, they've been supporting as well. They know I'm doing some extra work and they'v e been supporting me. So I would say a fantastic journey to start and continue. We need the changes from the mindset and spiritual thing. I just keep going.

Peter Soros (10:40):
Yeah, it's like finally you have some hope, but because you can see that, oh, I can do this, so I can even hear it from when you first started till now. It's like this light is on and it's like there's hope for me. There's something I can do about my situation. I can still keep my current job. All of that stays the same and safe, but I have this thing here that I can keep growing and can turn into basically as big as I want it to be. So that definitely like you said, right,

Frank (11:15):
Exactly.

Peter Soros (11:16):
It's a very powerful feeling that you finally start to feel a little bit more in control of your future. And that's one of the biggest things that why people come to us. Exactly. We want to have control of our future.

Frank (11:28):
Exactly. A lot of freedom. You feel a lot of power. You're going to turn your dream into reality.

Peter Soros (11:34):
Yeah. That's awesome to hear. I love hearing that. So what's your ultimate long-term goal? You skip the wholesale part. I'm sure you'll still be doing wholesale deals eventually because it's just going to happen, but you're already in a fix and flip project. You're going to get started with your partners. What's the next thing to do after this? Keep trying to get some more wholesale deals, learn to do that or just keep doing fix and flips as they come up? Or are you looking eventually to go and rise up that real estate investor evolution of wholesaler fix and flipper buy and hold where you're just building a portfolio of buy and hold? Is that what your goal is? What are you planning for your future?

Frank (12:30):
Yeah, definitely. So I immediately, I have two things going on apparently. One is fix and flip property projects ongoing. I have one business partner and he's think of that renovation party. He's a very experienced general contractor.

(12:52):
So he's doing heavy renovation part apparently. I am in the wholesale program. I'm going definitely continue doing wholesale. I've been doing wholesale for about a month. Also some, a few offers, five, 10 offers, but I didn't really rush to submit many offers. So I still need to find the balance. It's take a while. I feel I might be getting close. It may take another month or so, but will see. So really want to continue doing wholesale. Really I want to start buying because fixed flip applying for 2025 is do another four or five more other than the one ongoing. Eventually, I would say eventually after a year or so we really started buying and hold. And does the ultimately go in terms of real estate, just keep buying?

Peter Soros (13:57):
Yeah, you can definitely put yourself in the position to do that. That is definitely possible with what you're doing. And just going back to what you were mentioning, and you've heard me say it all the time in the coaching calls and all that, how do you structure how you find that balance to put in good offers? You can get all your offers accepted if you offer way too high, but you're not doing good for anyone that way. And then if you're offering way too low, you're not going to get anywhere there. So that's where you learn the skill. I always say there's a science to it, but there's also an art to it, and that's something you just have to learn and you learn it by just keep doing it and keep learning your market. So you're getting there. Obviously you got a deal under contract and you guys closed on it, you have partners. So that brings me to the next part of this interview with you is tell me a bit about the deal. Tell me a bit about your partners. Let's start here. Where did you find these partners at?

Frank (15:01):
Yeah, so I joined the local Real Investment Association. They have events every month. I met my partners over there. We are all new to investment, but each of us have some good skillset. Myself is good at numbers and doing deal calculations. One of the partners, he's a very experienced general contractor, so he knows constructions repairs

(15:41):
Another partner. He is a agent, so he knows the real estate transactions. So we decided to work together for fix and flip. And we are new and none of us is irreplaceable, but we really have the desire to work together and be successful. So we're forming a business and you want to focus on do the real work. You start of arguing, make it easier so we can be laser focused on the real work and the partner has who is agent and he talk to the center and we have negotiation and based on, so that's another thing I would, thanks to the training program. I use a deal calculator from the training program. I did a deal calculations and do some adjustments based on our own financial conditions. And so all the negotiation and the purchase decision are based on numbers. So we purchased the property probably within one and a half month, about six weeks from getting the need to closing. Anyone should try to leverage the resource skill sets from other people and join the adventure. This will be, that'd be great.

Peter Soros (17:19):
Yeah. One of the most powerful things you can do in real estate investing is leveraging other people. So you have an expertise in one thing. You connected with someone with expertise here, another person with expertise there. You put those all together and you move faster this way. This is how big deals get done faster because you try to do everything yourself. You still got to learn all those little things, but this way you're able to move fast and get deals done. So that's one of the most powerful things about leverage. This is exactly what you did and it's showing quickly that, I mean, you joined the program, how long ago was it? Six months ago.

Frank (18:09):
I joined past three months ago. Yeah, three months ago.

Peter Soros (18:14):
Three months ago. Yes. Past

Frank (18:15):
October.

Peter Soros (18:16):
Within three months or so, you've got your first fix and flip deal. So yeah, we're obviously excited for you. We want you guys to keep track and keep us posted on the process and all that. I know you're going to learn a lot. It's going to be a roller coaster ride, but it'll be worth it in the end. How did you structure this deal? You said you guys are just going to split it outright between the three of you. No one's going to be like, oh, well I do this and you do that, and so I should get more. It's none of that. So it's just a clear cut partnership. So this way it's going to be simpler and everybody just puts all the work in together so you all win. Correct.

Frank (18:56):
Right, right. Yes. Yep. And we are going to keep doing that for a few more this year. Yeah, that's the plan for now.

Peter Soros (19:07):
So why don't you run into some of the numbers right now. Tell us what you got it under contract for what your repair cost estimate is. What's your timeline, how long should this take and what do you guys thinking it's going to sell for? And then eventually what your profits are going to be. If you want to just run through some of those numbers, let us all know,

Frank (19:28):
Right? Sure. The purchase price was 237,000 ARV 465,000. Repair costs a hundred thousand dollars. We get a hard money from a lender. The interest rate is 11.5% with the rate of a return is about 16%. The financed return, 37,000, not much, but our goal is to just make it work. If we've got a profitless grade, if we see a surprise, we could end up losing some money, that's fine. We are going to all take a similar risk. We're going to share the risk, but really we want to learn from it.

Peter Soros (20:20):
And the thing is, I was just going to say that you have multiple exit strategies with this is look into, let's say you maybe can't sell it for the price you would like to right now. Would it be good as a rental? Maybe that's something to look into and you guys hold it together that way and see if that might work better. So it sounds like you might have another exit strategy if needed. So that's good.

Frank (20:47):
Definitely is something we need to think about. Extra strategy. That's a good point.

Peter Soros (20:51):
Yeah, just something to keep in mind, just in case if it's looking like it won't be the kind of profit you had intended, because again, we have to understand real estate is a roller coaster, but you're doing a value add and you already ran the numbers. You have confidence in your numbers. You had, I'm sure the other partners check it out and it all made sense to all three of you. And even the hard money lenders, I know that they usually will check the deal to make sure it makes sense to them too. Right. So you've got lots, lots of support and evidence to show that you're going to profit from this and making 10% or 3% of something is way better than a hundred percent of nothing. Right?

Frank (21:39):
Yeah, exactly. Agree. Yeah. That's what we're thinking about as well.

Peter Soros (21:44):
Yeah, great. I'm really excited for you. I can't wait to see the updates and then eventually what happens at the end when you guys put it on the market. So really, really looking forward to all of that.

Frank (21:56):
Thank you so much.

Peter Soros (21:57):
Yeah. So last two questions. Why, we've kind of touched on this already, but you want financial freedom that is the main driver of why this is important to you to doing deals. Is it to eventually, are you trying to eventually leave your career at some point? Are you trying to, you're fine with staying there as long as you have this with you as well, this business. What is it that, why is this important to you? I know you've kind of touched on it a bit, but I just want to open that up for you a little bit more.

Frank (22:38):
It's really the freedom. I don't want to be limited by anything. I want to be able to support the families is a very basic thing. Support the people. Lot of people I care about. I don't have much to help in this moment. I need lot of financial support.

Peter Soros (22:57):
Well, you definitely have the work ethic for it and you definitely have the drive for it. It sounds like you've got the heart for it too. Your heart's in the right place. Your mind's in the right place. So it's just a matter of just sticking to it. I say it all the time. A lot of the best investors who have been doing this for a long time that I started meeting when I got it started in the business, I say it all the time, they're not really any smarter than any of us or you or anyone. It's just they never gave up and they were willing to take the risks that most people just aren't willing to take. So again, kudos to you. We're really proud of the progress you're making. The last thing, what's the kind of advice you would give someone? So people listening to this, what advice, what suggestions would you give them after what you've kind of been going through with this whole change, this new venture that you've decided to go in and the success you're starting to see. What kind of advice would you give people out there who are thinking, should I do this? Can I do this? Do I need help? Who should I get help from? What advice would you give someone?

Frank (24:15):
I would say, know what you want and be very persistent and open mind. Work with the people. Keep learning. Always keep in mind you need to be creative. Those are the international power. Those are adding value to your business process. You can just keep repeating. You have always keep thinking how I can do better. That's exactly what Alex said in the training program. If you improve every day, 1%, you can do the math. That's the power. I would say most of the people, if you really do it, have a very good plan, very strong execution on the plan. Most people will be successful.

Peter Soros (24:58):
Yeah. Yeah. We have a saying in the office, real estate is not a get rich quick scheme. It's a get rich for sure plan,

Frank (25:07):
Right. Right.

Peter Soros (25:08):
So if you do things right and you stay disciplined and you see it through, it should be inevitable that you make the kind of money you want and build the kind of wealth that you want. If you just stick with it and you do what you need to do to do it properly too. Because people can stay busy, but there may not be productive. There are better ways of doing, there are better ways of doing things and it might be better for certain people at certain times. So I'm glad we were able to create something that was going to work for you and your lifestyle to get started with this. So again, Frank, it was a honor and a pleasure to talk with you and honestly continue working with you and seeing you grow and progress.

Frank (25:58):
Thank you so much, Peter. Thank you. Really appreciate all the support and help from you and from the community, from Real Estate Skills,

Peter Soros (26:06):
Our pleasure. It's what we live for. We think about it all day long. How can we help change people's lives? Because it did to me. I was a student here once. It changed my life, so I know it can. I know it can.

Frank (26:23):
Right.

Peter Soros (26:23):
Well thanks again, Frank. With that, we'll just say take care to everybody. We'll see Frank on here again soon. I'm pretty sure of it.

(26:32):
And there you have it. Frank's dedication to his business and to his family is manifesting quickly in a big way. He knew what real estate could bring to his life, but he didn't know how. Turn that into a reality. That's where we were able to come in and give him a clear path to reaching his goals at Real Estate Skills. He was able to find a system that he could follow even while maintaining a full-time job and get the support that he needed to create the lifestyle and the future that he desires. If you want to know more about the Real Estate Skills community, head on over to RealEstateSkills.com. Until next time, take care.

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