“House Flipping” Connecting Everything with Alex Franks
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Charisma and energy radiate from this Humble Gardener and Real Estate Investor who lives on a reservation in South Carolina. Alex Franks seeks simplicity, connection and accountability. He started flipping houses 2001 and, like most, had no idea what he was doing. Alex built his own rental portfolio 2003-2006 using hard and private money.
After losing it all in 2007, there were many lessons learned. In 2008, Alex went on to rebuild a large turn key company, one of the Major Turnkey providers in Charlotte, NC. Alex has flipped over 250 single family homes in Charlotte and over 800 units total In North Carolina, South Carolina, Georgia and Florida. He has had a hand in everything from subprime homes to million dollar homes, apartments to condo conversions, turn key investors to building portfolios for large net worth clients. He is steadliy investing in large apartment complexes. He has owned a construction company and property management company and vows “Never Again!” He has ventured into all. “If you just do one thing and you do it well, you’ll do well in this business… but diversification is KEY!”
Right now he is focused on building apartment portfolio for him and few partners. He will always build new construction homes if the project is large enough and makes strong financial sense. He will add more SFR to his portfolio if the numbers make sense. Expects to purchase 200 units by December 2017 … With a goal of 1000 units in 3 -5 years. BUT… ALWAYS IF THE NUMBERS MAKE SENSE!
A PIECE OF ADVICE FOR THE NEW AND SHY INVESTOR: Networking one 101
“How to go to an REI Meeting for Shy People” – Go through the front door. Get 10 business cards. Sit somewhere that doesn’t scare you. Listen to speakers. Leave Meeting. Go home. E-mail those 10 cards. Follow up.
Alex is a Connector. A Master Networker. He enjoys teaching folks the do and don’ts of investing. He makes it a habit to email 15 – 20 people a day… just to check in, follow up and say “Hello!” He puts his life out on Facebook because he wants his investors to have a first hand account of the person he is and the person they are investing their time and money in.
Don’t be afraid to Network!
Golden quotes from this podcast:
“Your word is everything.”
“We won, we lost, we learned.”
“Mission statement for business? Skip it! I want to see a mission statement for LIFE!”
“My WHY is my wife, my parents, my in-laws and building legacy wealth for my family.”
We are so very grateful to Alex Franks for being on our Podcast today!!! Have an AMAZING and HAPPILY PROFITABLE day!