EP338: Michael Moulton Shares Insider Secrets on How You Can Capitalize by Working with iBuyers (like Offer Pad & Open Door)

Michael Moulton is a real estate fix-and-flipper based out of Charlotte, North Carolina. He left his corporate career to pursue real estate and now has a small team of six people. Technology has really changed the game in his market and he has been working proactively with iBuyers to get deals locked up at a great rate. He dives in on this week's episode to share a little bit more about how you can get into finding and working with iBuyers in your area! Key Takeaways: How did Mike get into real estate? Mike met his wife when he was in corporate and she helped him with his side hustle when they were still working full-time jobs. Alex thinks sometimes you have to burn the ship and convince yourself failure isn't an option. What does Mike's team look like today? Big teams aren't always sunshine and rainbows. Mike shares why he purposely chose to have a small team. Mike shares a story of a friend of his who just works with his son building custom homes. What is an iBuyer? Where do you find iBuyers? What makes iBuyers unique? Timing is very important when you're working with iBuyers. You don't want them to know how much you paid for the house. What types of homes are iBuyers looking for? What's the process of finding an iBuyer and selling them a house? How do iBuyers control the terms of their offer? If you have a hard time finding a buyer the traditional way, does it make sense to send it to an iBuyer? Mike thinks 80-90% of brokers will be gone in 3–5 years. Mentioned in This Episode: Interested in joining the Hybrid Coaching & Mastermind Group Alex & Steve launched? Apply to Join ASCEND Connect with Mike: Beehomesolutions.com Here are some of the big iBuyers: Offerpad.com, Opendoor.com   Tweetables: "Here's one learning though. You cannot wholesale to these iBuyers. You don't have to have it bought, but you have to have a plan that you're shortly going to take ownership of it." "iBuyers typically don't like beater homes or class C or D areas. The best ones to send them are houses that aren't going to need a lot of renovation to resell or get them rented." "Zillow is still a little bit behind the 8-ball. We couldn't even get our images uploaded to their site, a lot of challenges with file sizes, it's a very clunky process and it takes 12 days to get back to us and that's with us following up, following up." Ask Alex A Question: Have a question you want featured on an upcoming Flip Empire Show? Head over to the Ask Alex page, and record your question. We've made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally! Did you get your FREE Online Course? Text the word EMPIRE to 67076, and we'll send you a link to get instant access to the "5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)" video module training course. Subscribe To The Flip Empire Show, and Leave a Rating & Review!