Feb. 19, 2020

Flipping Houses With Your Spouse With Lindsay Hinkle


After 10 years of talking and dreaming, Lindsay Hinkle and her husband recently went all in and flipped their first house!

Within just a few months of getting started, they closed on the sale of their first flip, are working on their second and under contract to purchase their third.

In one of the hottest, most investor-saturated markets in the country. 

Tune in to learn:
- How they find their deals
- How they're financing their deals
- How they handled a $$ surprise that came up during the buyer's inspection
- How they navigate being in business together
- ​Her advice for getting started

...and so much more!

GOODIES

1. Learn how to work with Debbie and her Tribe and get your First Flip Done Right™
2. Follow That Flip! Follow me and 2 local students as we flip a house together!   
3. Learn more about Debbie DeBerry | The Flipstress
4. Our goal is to hit 250 reviews and spread the good word about this podcast as quickly as possible!

Every 50 reviews, there will be a drawing! You can help us reach our goal PLUS have a chance to WIN Apple AirPods (they work with any and all devices, not just Apple!) by going to wherever you listen to podcasts, leaving a rating and review for the show, taking a screenshot of that submitted review and sending it to us at contact@theflipstress.com.

5. Continue the house flipping conversation in our free Women Flipping Houses Facebook group

Transcript

Intro 00:01
You're listening to the flip houses like a girl podcast where we educate, empower and celebrate everyday women who are facing their fears, juggling family and business, embracing their awesomeness and wholeheartedly chasing their dream of flipping houses. Each episode delivers honest to goodness tools, tips and strategies you can implement today to get closer to your first or next successful house flip. Here's your spiky haired breakfast taco loving host house flipping Coach Debbie DeBerry.

Debbie DeBerry 00:38
Hey, it's Debbie DeBerry here. And I hope that whatever you're up to today, you're having an easy one. Thank you so much for joining me, I'm excited to share one of my favorite people with you. She is here in Austin. And she and her husband recently started flipping houses together. And I'm super excited to introduce you to her. Before that, though. I want to do a listener shout out because it's been a little bit. It's been a hot minute since I did that. I don't know what's wrong with me. Anyway, thank you so much for all of the awesome reviews that are coming in. And please keep them coming. It's really great to know that what I'm sharing with you is meaningful, and is helpful. So thank you very much. Okay, this review is from Beth a Roberts. She says, Love her ability to get right to the point. It's so refreshing to hear from a woman's point of view without all the male ego you get from other coaches. Yeah, isn't it though? I'm glad that that's refreshing for you as well, because I get it. All right. Thank you very much for taking the time to submit a review. And again, just thank you for letting me know that what I'm doing matters and that it's helping you. So if you haven't yet, please leave a review. All right. And in case you haven't seen in the Facebook group, or read in your email inbox, we are hard at work planning the only women's real estate investing retreat where woo woo and house flipping collide. All right, it's called flip your heart out. And it's going to be in September, in beautiful Austin, Texas. And what I promise you is that it is not just another good old boys real estate investing event. All right, get yourself on the waitlist ladies go to flip your heart out.com for all the details, and to put your name on the waitlist because I promise you, this bad boy is going to sell out quickly. And you know me, I keep things small and intimate. So this isn't 100 plus people get to come. It is a smaller group of awesome women. All right. So flip your heart out.com Get yourself on the waitlist, and I promise it's gonna be awesome. All right. Let's get into today's interview with Lindsey Hinkle. She's awesome. I love her. I recently met her just a few short months ago, at my very first women flipping houses meetup that I hosted here in Austin, she and her husband came. And they had such an awesome vibe about them. And we ended up having coffee just a few short days later. And I just loved them. Like they're just good, solid people. And they had just landed in Austin, ready to start their house flipping adventure. So you will get to hear how they're finding deals. You'll hear how they're financing deals, you'll hear how they're managing, working together. Because, let's admit, sometimes it's kind of hard to work with your spouse or your significant other because you are around them so much. It's all about balance, right? How do we navigate that professionally? Alright, we're gonna get into all that here with this interview with Lindsay. All right, without further ado, let's do this. Okay, so you want to start with a little bit of your background as well

Lindsay 04:28
Don and I have been talking about moving to Austin for like almost 10 years. And we actually came out to Texas. We actually went to the Dallas Fort Worth area thinking that that was where we wanted to land. We didn't think we were going to be able to afford living in San Diego. And he was in the middle of a career change. And, you know, we had a young daughter and just trying to figure out out. We were in Dallas Fort Worth for about three minutes and decided, no. I'm not seeing that. Yeah, no.

No, we were there for about a day. I think our trip was like four days in total donut actually heard about a really great school out there which kind of took us there thinking, Hey, you know, for kids stuff. I'm not realizing that the school was in like a multimillion dollar home neighborhood.

Debbie DeBerry 05:37
minor details.

Lindsay 05:41
I know. And so we're like, okay. But we really were not liking. We just weren't jiving with the Dallas Fort Worth area. It was too much concrete, not enough landscape coming from like I grew up in San Diego. I was born there. and beautiful. Dylan's from Ohio. And so he's used to green, you know, still a little more landscape than Dell says offer. And so when we were talking with people in the Dallas, Fort Worth area, they were like, Oh, you guys should go check out Austin, you guys would love Austin. Sounds like Austin might be a really great place for you to check out. So we were like, well, we're pretty much done here. Like, took our rental car and changed our plans. And when I came down here, and we were here for like a day and a half. And we just loved it so much. We went to the lakeway area down grew up on a lake. So I was really drawn to the water. Sure. And you know, we did the Salt Lake, we did all the drove down Sixth Street, you know, we did all the touristy things, but we just got this feeling. And we were here and just couldn't stop talking about it. And so like I said, he was in the middle of like a career change. And he was just getting into the flipping world in San Diego.

Debbie DeBerry 07:06
Okay, so that was, was that 10 years ago? when y'all first came out?

Lindsay 07:14
Yeah, So he was originally in construction, like actually doing the work. He worked with his cousin. And he was a general contractor. And so Dylan knew how to do everything. And then once the economy started tanking, there was no work because nobody was spending the money. And so he went and got a job with a big company in San Diego. And they had just started a branch of their company. And he was just approving bids. And so he got really familiar with the numbers. And then he slowly, you know, kind of worked his way into project management there. And this company was huge. They were doing like 120 homes a year. Today, we're not hundred 20 homes a year got, like, a month. Like, the volume was insane. And yeah, they were buying pools of homes from the banks. They had relationships with, like Bank of America. I gotcha. Yeah. And so they were just oh my god and turn and burn turn it off. super high quality jerk. You know, it's a different model. Yeah, for sure. Completely different model. Um, but that's like, really, when the flipping started becoming huge. And and yeah, it goes. It was like, in there right at the beginning, which was really cool. He learned so much like that. Yeah, they even bought pools of homes, like in Florida. Okay, you know, they would ship a guy out on Friday. And the guy would drive as many homes just drive bys as you could have these addresses that they were going to buy. And then like that next week, they would finalize the purchase, and then they'd ship like two guys out to Florida, to find contractors to do the whole thing in like three weeks. So Dylan did that. It was like sleeping on an air mattress and some of the, like, it was crazy. It was totally crazy. But yeah, yeah, it was a little bananas. So but I mean, like I said, he learned a lot. And then he came after doing that for a while. He was like, you know, this company, the volumes too big. And there's just not that attention to detail that he would rather kind of have his name attached to. And so he went to work for another company, smaller company, kind of doing the same thing. His boss ended up not being the most honest Guy, unfortunately. So he ended up finding the company that he was with for the last five years before we moved here, okay, and they were all self funded. And they were, they started flipping and then once the flipping became way too competitive and real estate prices became way too expensive in San Diego, they got into condo conversions and building from the ground up. Okay, so they were in the middle of like a 48 unit apartment complex when he left. Uh huh. You're doing townhomes and that sort of thing. So all that to say, we like flipped our own houses that we lived in. Um, because the design pieces what I get all giddy about. Um, and so like pipe dream, it was always like, Oh, this would be so fun. If you and I could do this together. Oh, it would be so fun. If I could come in and design one of the houses for your company, you know, just like, all that sort of thing. And all the while still having this like, magnetic pole to Texas to Austin. And we just got to the point where we were sick of talking about it. And the San Diego real estate market was really kind of to us with selling our house . so we decided it was like, a month or two. It was like, okay, we're just gonna do it. And if we can sell our house for X amount, we're gonna go and we're just gonna figure it out. And it worked.

Debbie DeBerry  11:37
that's awesome.

Lindsay 11:38
Yeah, it's like, I like pinch myself still, because I'm like, I can't believe that I'm, you know, I'm 32. And I'm literally living my dream. That's awesome. You know, it's like, makes me smile sometimes. about it, because it's just like, I get to hang out with my husband all day, right? He totally freakin love me that I totally freaking out. And it's fun. there’s already been ups and downs. But you know what? I literally would not trade it for anything. Yeah.

Debbie DeBerry 12:12
Yeah. So you go. Okay, so you guys got out here. When did you guys get here?

Lindsay 12:17
It always got here, the middle of while we got here at the beginning of August, but our house wasn't ready. So we took another little time away and came back right before school started. So we were here like mid August permanently to last year 2019 or the year before? Okay, so we've been here for like five minutes.

Debbie DeBerry 12:38
Yeah, you've been here for five minutes. And Okay, so then when? Wow. Okay, so when we met? That was that first meetup was in October, October. So you guys have just been here for two months?

Lindsay 12:54
Yeah, but, but Dylan had been following you.

Debbie DeBerry 12:57
Right? dealing with his grandmother years.

Lindsay 13:03
I know. It's so cute. I don't we're gonna see her in like a month and I'm gonna make her listen. That Famous Flipstress lady that does flips. Oh, yeah, we tight

Debbie DeBerry 13:19
I love that so much. 

Lindsay 13:22
Yes, I saw that you were like doing the meetups, and he was like, we should go. And I was like, okay, you know, I checked out your stuff. And I was like, she seems really cool.

Debbie DeBerry 13:33
That was awesome. I like Yeah, I was like, Oh my god, these are my people. So, so. Okay, so you guys got here in August. Mm hmm. Had y'all been going to meet up? Had y'all been on wholesalers list, and you've been looking?

Lindsay 13:52
We took a minute to get adjusted, you know, the girls started school. And we just and we were putting our house together and, you know, all that stuff. And so we we didn't really do much of anything until we went to your meetup. And then like, it was very quickly after that, like I feel like the hour after contract. To do things were like, pedal to the metal. You know?

Debbie DeBerry 14:31
Oh yeah, me too. I don't - I’m not great at patience. Me that like, balance. I’m like all in or all out. 

Lindsay 14:42
totally. Yeah, that's so funny. That's That's us. We were spontaneous and rare. Yeah. You know, figure it out. so we went to a meet up. And then it was like, wholesaling wasn't really a thing in San Diego because margins just weren't really there for people. And so wholesalers would bring stuff, you know, to Dylan and his company, but it like literally never worked out. Yeah. And so when you were talking about it, we were like, well, what is this wholesaling thing, you know, and you gave us the names of a couple of people, and that's who we called. And within that week, we had our in person meetings, and we're on their list. So awesome. Yeah, that's how that happened. I mean, it's just, I don't know, we were ready. And we just jumped in.

Debbie DeBerry 15:43
Yeah, you jumped in. Yeah.

Lindsay 15:45
You got to do it. Yeah.

Debbie DeBerry 15:47
So let's talk about the first one. Yes. All right. So you got your first one through a wholesaler? We did. We did. How did you finance it?

Lindsay 15:59
We did hard money can be hard money. And it was also our first experience with hard money. Um, you know, Dylan was work, someone else who was self funded, so we never did that side of things. We actually used a wholesaler that or a hard money lender that was recommended by the wholesaler we purchase through okay. And their terms were 1% origination of the purchase price. And then 12% interest of purchase plus rehab. They funded 85% of purchase and rehab.

Debbie DeBerry 16:40
Okay, so you guys had to come up with the 15% down? Yep, basically. Okay. Okay. And Was that your, your own cash? Or was that yes. Okay, sir. on cash. Okay. I'm selling her house. Awesome. Thank you, Diego.

Lindsay 16:54
Yes. Exactly

Debbie DeBerry 16:58
Okay, so, all right. So tell us about the property. Like the layout the the digits, what were the digits? Yeah, pretty.

Lindsay 17:10
Oh, gosh, okay, it was a three, two. And it was just under 1200 square feet. Okay. And it was like the perfect little starter house, the layout was actually pretty decent because the master bedroom had its own attached bathroom on one side of the house. And then you walk into the family, you know, living room, dining kitchen. And then on the other side, kind of in the front where the two x two other bedrooms with the bathroom right outside. So as far as like being a starter home for somebody, it was perfect. And the price point was great. We purchased it for 205. Okay.

Debbie DeBerry 17:50
Which super cheap for Austin!

Lindsay 17:53
Yea, exactly. I know. And coming from San Diego. It was like, I'm sorry, what?

Debbie DeBerry 17:57
Is there a zero missing? haha Who do I make that cash that check out?

Lindsay 18:10
My mom. Um, yeah. And so it was, it was easy. It didn't need plumbing. It didn't need new electrical. It didn't. Well, it didn't need a new roof. The roof was probably like, between 10 and 15 years old. Um, so it was really just cosmetic. Yeah, so it was, you know, for our first one, we were like, Okay, um, because originally we weren't thinking that the ARV was as high as it ended up being especially listing. Like, we were thinking we're gonna be listing right after Christmas or at the beginning of the new year, right. And you just never know, I know, wintertime. I know. I know. And so it was like, Well, if we make anything, we're going to be happy. We want to just get into this, we want to learn, we want to see what this whole thing is all about. And so, you know, like I said, balls to the wall. And it was one of those crazy ones. So the wholesaler, they do like first come first serve properties, okay. Or they have the showings this was a first come first serve property. And so it was like, you're literally driving in the car as fast as you can, for someone at the property to take a picture with your agent, so that you can get the property under contract. And so, like we're walking around this house, and I'm feeling like I'm gonna throw there's another couple that was there with their agent, and they're out in the backyard looking serious and like, writing things down or whatever, whatever. We were just like, okay, we're just, we're just gonna go and I remember hiding in the laundry room, garage of the house. Are we doing this? I guess we're doing this. Yeah, I took some videos of that moment, so I'll just share those. Please. Yeah, but I was just like, I guess I guess this is happening and yeah, so it was a very like we're like running comps on our way over from right.

Debbie DeBerry 20:26
Yeah, I was gonna, I was gonna ask that. Yeah, that's the thing that freaks a lot of people out is the first come first serve. and rightfully so totally not impossible like just just do it!

Lindsay 20:37
I know. Now, we like don't leave the house without a computer. Uh huh. We have learned that. It's like, you have to be able to it. Most deals will make sense for someone. Right? You know, right. I bet 95 or more of these houses get locked up by somebody, somebody takes it. So it works for somebody. So you just have to find out if it works for you. Right. And like I said, we weren't sure if it was gonna work out great. But we knew we weren't gonna lose money. Yeah. And so, yeah, we decided to go for it to get the momentum started.

Debbie DeBerry 21:13
So while you were freaking out in the laundry room, what was Dylan doing?

Lindsay 21:19
Um, being quiet. He, you know, I'm like, like, Oh, my God, oh, my God and be though by the time we got in the car, he was just like, he just wasn't speaking.

Debbie DeBerry 21:33
Okay, how does that make you feel? Let's talk about how that makes you feel. 

Lindsay 21:36
It's I remember, I pretty sure I have a video of that too. Because I asked him and he was like, he didn't exactly say how he felt it was like, Oh, this is gonna be great. And I'm like, but how do you feel? And you just like, couldn't answer the question. It was so funny. But, you know, later on in the night, it was like, the butterflies were still going, but we were just so excited. Because like, We're here. We're gonna actually do what we can here that we said we were gonna do. it was it was it was awesome. And then I think it was, like, 10 to 12 days after we signed the contract that we closed.

Debbie DeBerry 22:24
Right. And that's awesome. That for me is actually good. I hate the delays. Because there's too much time for me to start freaking out about things that are just stupid to freak out about.

Lindsay 22:36
Absolutely.

Debbie DeBerry 22:37
Oh, okay. So do you feel like I was dealing nervous at all? Or was he like, it's fine. Like? You just like the balancing? He was balancing you out?

Lindsay 22:53
Yeah, he that's just our life yet. Like, our relationship is him constantly. And you know what? That's like thing about our relationship. That's my favorite. Because I can be very all over the place. And he really tries to keep it keep us grounded. Yeah. And he is very much like, why stress? Like, we'll figure it out. You know, I remember in the beginning of our relationship, something was going on. And I was upset about something and he just said, cheer up pups guys still blue. And I was like, Oh, you're right. It is. know It is the sky is still blue. Everything is going to be fine. I love it.

Debbie DeBerry 23:47
Like, it's like, you'll figure it out. That's one of the biggest things. I feel like people feel they're so worried about making a mistake, you probably owe But you'll figure it out. It's not gonna worry about it. Right? Yeah. Right. It's, it would be really, it would be very unusual, like 1% chance that it's a fatal mistake. Like it's it, you'll you'll figure it out. You'll figure it out.

Lindsay 24:20
And like you're working with real estate, like real estate is something like everyone needs a place to live. And Dylan I have always said like, if we get into a situation where we buy something and end up having to spend way too much money on it. Maybe you hold it for a little longer.

Debbie DeBerry 24:39
Exactly. There are alternatives. 

Lindsay 24:43
That's what's so nice about real estate is that you're not like, you know, paid into a corner, right? Pretty much ever right there. Or there's somebody else you know, that you might be able to sell it to or take it over. You know, there's just You can be creative. Yeah. Solutions. Yeah, totally. Yeah. 

Debbie DeBerry:
There are other outs. Yeah, Mm hmm. Yeah, I think that's important. Mm hmm. Okay, so did you guys verbally say, these are my responsibilities? And these are your responsibilities? Or did you just kind of like you knew what each other's roles were gonna be? And you kind of figured it out?

Lindsay 25:28
Yeah, you know, it wasn't really like a, we sat down, and it was like a his and hers list or anything like that. Um, we definitely have complementary strengths.

Debbie DeBerry 25:41
Uh huh.

Lindsay 25:42
And we have very similar taste in most things. And so, like, I know that his expertise, expertise is like, with the contractors, with the bids and knowing how much things cost, how much things should cost, how long things should take? Yeah. Whereas I'm like, Oh, I thought this was supposed to be done by now. But without, you know, like, I'm very unrealistic. I'm like, I'm gonna let you do that. And they'll be over here playing with pink colors. And I'm really good at that. And so, that's kind of how we knew it was gonna be. You know, I bounce my ideas off of him and, or I'll ask him opinions about this or that, and he'll help me make decisions and vice versa. And so it's just like, we're a yin and yang. Really? Yeah, it works. It works really well. Like, he doesn't really try to encroach on, like, Oh, you really want to paint color, you know, like, he I think he trusts my taste enough, since we've been together long enough, right? Um, that I'm like, you know, not gonna do anything too crazy. And then I also trust, you know, the way he communicates with people. Yeah. He's, you know, he's really good at what he does, too.

Debbie DeBerry 27:09
Yeah, for sure. So, you guys on the first one, you hired a GC you hired, I think you hired the guy that built his house.

Lindsay 27:20
Well, the agent that helped us buy our house, okay, here, it was one of his preferred contracts. And also does investing and building and stuff like that. He was kind enough to share his information with us. So that was like, we already knew we had a little bit of an advantage that we didn't have to like, go Google general contractors in Austin. Like, we got very, very lucky in that sense. And he honestly was amazing. Our bar for contractors wasn't very high. You know, the work that Dylan's been in for the longest time. And so I honestly didn't even know that contractor could be so communicative. So honest. And that they actually do what they say they're going to do. 

Debbie DeBerry 28:25
Novel concepts. Oh, yeah.

Lindsay 28:26
Right. You know, doing their job. And so when we saw our first this first one, you know, Dylan put a rehab budget together based on the numbers that he's known. Yeah. Because we're like San Diego, and like, it's probably going to be very similar. But we actually found out very quickly that things are more expensive here as far as trade. Yeah. Which we were really surprised at.

Debbie DeBerry 28:59
Yeah, I didn't I never heard that. That's super interesting. Okay.

Lindsay 29:03
And granted, you know, you get what you pay for. And so we also, were paying more for someone to be communicative and honest and do their job

Debbie DeBerry 29:15
and your name was on this? Yes. Yeah.

Lindsay 29:17
And, you know, he was recommended to us so highly that we were like, okay, because his bid came over what we were budgeting to spend on the house significantly, pretty significantly. Oh, God. Yeah. Yeah. Gosh, and so, you know, Dylan called him and was like, dude, you know, like, I'd love because he sent his bid over, and we were like, what

Debbie DeBerry:
So this is after you're under contract on the app? 

Lindsay 29:51
Yeah, okay. You know, we, we were confident in right and that was that Diller was sure, you know, used to, and so they like metatomical Donald's on a Saturday morning to go over the bid all this stuff. And we we ended up coming up with at least for this first one just because we didn't have like, we didn't have a choice. We didn't have the wiggle room. Right. So we were basically paying them for labor. Okay, we were going to supply materials. Yep.

Debbie DeBerry 30:21
That's how I prefer to do it anyway.

Lindsay 30:24
Yeah. And, you know, it was a learning experience. Um, it became like a running joke if we didn't go to Home Depot one day.

Debbie DeBerry 30:35
Yes. Oh, it's every day

Lindsay 30:37
two or three times. Yeah. Here we are, again. I kept asking the cashiers like, do you have frequent flyer miles? Because, you know, luckily, we have our Southwest card that we know rack up the rack up our own miles, and I'm like, Acadian pass. Yeah, exactly. Um, so that's kind of how we modeled the first one, okay. Like, you know, we really want to build a relationship with you, we want you to be our go to guy. But we just like, can't afford the whole enchilada this year. So like, let's do it this way. See how it works? And then, you know, now we know for next time, kind of where our numbers need to be based on everything that we did here.

Debbie DeBerry 31:20
So what did what were you guys thinking? What were you guys projecting the budget to be? And what did he come back to you with?

Lindsay 31:27
Dylan projected the budget? I think it like 50?

Debbie DeBerry 31:33
okay. for pretty cosmetic. Okay,

Lindsay 31:36
for not a super huge, then I think he came back at like 70 or 75. So

Debbie DeBerry 31:45
that'll change numbers a little bit. Yeah.

Lindsay 31:46
Yeah. And and with, you know, that's 10% of the purchase price. Yeah, you know, of a difference. And they were like, Okay, good to know. Thanks for sharing. And so that's how we that's how we did this one. And you know, it, it worked out fine. You know, there was a god it was like, so many times, I was like, Oh, we forgot one outlet cover. Sorry. Oh, this fitting doesn't work. And it's just like, Oh, my gosh, here we go. Okay.

Debbie DeBerry 32:24
credibly, incredibly maddening.

Lindsay 32:26
Yeah, it is and, like, like, so from now on how we're going to set it up. And like, what we learned through that process was like, that was so much of our time. used just going. I mean, the house was already 30 minutes away from us. Live, right, you know, out on the boonies. Not really, um, and so it was like gas to get there every day gas to go to the go to Home Depot and then come back and just the amount of time it took. Yeah, it just wasn't efficient. Yeah. And again, so from now on how what we're gonna do going forward is like, you're gonna they're gonna supply all the rough. Yep, drywall, plumbing, electrical, all that stuff. And then we're gonna provide like the finishes like, yeah, the tile. flooring. light fixtures. Yeah. And that's and then if, like bath hardware, kitchen hardware? Sure. That sort of thing. Sure.

Debbie DeBerry 33:29
That's a great way to do it. And you're still you're still using the same contractor, you're still able to make the numbers work. Yeah. So like I said, we just run the numbers a little bit differently now that we know.

Lindsay 33:41
Yeah. But they, their crew got that house done in three weeks. Yeah. And I mean, we were just waiting. Like, we were all sitting around twiddling our thumbs for week just waiting for the countertops. Yeah, like they were so fast. Yeah. And like we would walk through. And, you know, I'm very detail oriented. So I like picking out every little thing. And I'm like, I like tell Dylan so that he can tell them. Like, hey, make sure to mention this crack. Make sure to mention this. And by the time we'd be back the next day be fixed. That's awesome. It was amazing. And we you know, so we were impressed even though it was going to be more expensive in the long run. Like we saw their quality and we saw their commitment to the project and we're like, this is worth paying more.

Debbie DeBerry 34:37
Because you know, they're gonna be done quickly. You know, they're gonna show up like, it's, you've got to pick your battles. wisely. I would rather pay a little bit more. Totally for that peace of mind. I don't have to babysit them there. They're showing up. I don't have to check in on them every day.

Lindsay 34:58
That was like priceles, like, we had work, we flipped the house that we lived in and sold before we moved. And I am telling you, I can't. Like it's still like makes me upset at just how I don't know, for lack of any better way to say how there's just like no service. When you're paying someone to do a job, you know what I mean? Like there's no, I don't know, integrity. Right. And that kind of stuff really bothers. Yeah, yeah. Yeah, more so than like, a bad paint job. Like, you know, you can redo paint, but yeah.

Debbie DeBerry 35:45
Yeah.

Lindsay 35:47
So we were both just like, Oh my gosh, this is amazing. Like, we're smiling every day. It's still fun. Right? You know, like, it's supposed to be. Yeah, here's the right. We have fun. Yeah. And they're supposed to make your life easier.

Debbie DeBerry 36:01
Yeah, exactly. Exactly. So. Okay, so let's talk about the final numbers on that one. Mm hmm.

Lindsay 36:11
So we, we bought it for 205. Okay. Our, we ended up spending about 65. Okay, at the end of the day, we also had the double close. Mm hmm. When we bought it so and then you know that and we ended up selling for 336. But we gave the buyer a credit an escrow also. Okay. So at the end of s earth through escrow, we we ended up listing the house on December 27. Merry Christmas, literally staging the house on Christmas Eve. Wow. Like the worst mom in the whole world at 5pm. And I'm not even home. I'm like fluffing pillows, and you're showing your girls that you can be self employed, and you can do what you love. It's true. Yeah, it was like, we were crazy people. What are we doing? Yeah. And then we had action on the house right away and took offers until January 1, and then opened escrow and things like on the second or the third. And so the people did there the buyers are there inspection. Yeah. And the inspector called out the roof, because of old stains up in the attic. And like, while we were doing the work, there were several heavy rains. Oh, yeah. New 100% that the the roof was fine. Yeah. And they came back to us and wanted like, $8,000 for a new roof. And we were like, excuse me? And then they were like, Oh, well, there's a house, you know, in the neighborhood over with a new roof and a new on a check system. And I just want to be like, fine, then go buy that land. Right. You know, like, I'm in the background. Oh, I was like fuming for Yeah. And so that was really frustrating because you're like we listed for 329. Right? They offered 336. But now they're asking, and that's why we took their offer, right? I'll be the highest. And then they come back and ask for $8,000 and we're like, so it was like a little bit of back and forth there. And it was really frustrating, but we ended up giving them three. Okay. Just so we don't have to lose the buyer. We didn't have to lose time. You know, we were already a couple weeks into it. And it was like, you know, yeah, cut your losses. Oh,

Debbie DeBerry 38:53
I’m all about that Bert. Like really trying to make it work with that first buyer because yeah, back on the market looks shady. It's stressful. Like, honestly, just to avoid the stress. Sometimes it's just like, you know, make what you've got work.

Lindsay 39:12
Yeah. And you know, we had a backup offer but then like, you don't know what that inspector assigned to give them the inspection report that they got exactly like, Okay, well, it could end up being a more expensive problem, either, right. And so it was like, okay, we're just gonna bite the bullet. And even though we knew nothing was wrong, that was always frustrating.  Oh, my gosh, please come over here and I will take a hose to the roof and you can see the light working just right. And we ended up getting the age back system like fully serviced for them. So which costs in the end about $1,000 Oh, God, so yeah, yeah, they had they clean coils and you don't know basically took the whole thing apart. Yeah. Did all that Things, okay. And so our profit at the end was about 25,000. That's great it was awesome, because we thought we were gonna make like, we were gonna be happy if we made $5. We’re like Oh, okay. Okay. we can do this. Yes. That awesome. Yeah, it was awesome.

Debbie DeBerry 40:24
Were there it doesn't I don't think there were based on the timeline. But were there any surprises? unexpected surprises aside from the roof at the end? Really? 

Lindsay 40:30
Yeah, it was pretty straightforward. really straightforward. Well, a little surprised. Uh huh. Um, the house, the exterior in the front was really stuck out at some point. Oh, okay. And when they did it, so like, I didn't like the front exterior from the beginning. Okay. It was like one of those things that, just for me, I was like, ah, if we could change this, like, I wish we could, but it just wasn't in the budget. Yeah. And, you know, at that price point, it is what it is.

Debbie DeBerry 41:10
Right. Right.

Lindsay 41:12
So we were just gonna try to like, patch what was there. But we ended up removing a bunch of landscaping under the front, because the whole front of the house was like, covered in bushes. Okay. And when we took the bushes away, we could see chicken wire through the stucco.

Debbie DeBerry 41:31
Oh, gosh.

Lindsay 41:33
And so like, all the stucco wasn't done properly in the first place. And so we're like, Okay, well, can we just like, do another couple layers of it over? Like, I don't know, we don't know how this works. Yeah. And we had a stucco guy come out. And he was like, you know, for longevity. You can, you can do that. It's just not going to last for somebody. And that's also not something that we wanted to do. And so we ended up removing all the stucco in the front and doing new siding on the whole front exterior of the house. So that was another that was a little bit of a surprise. But I was so happy about it, though. It Made the house look so much better. Totally. I was like, I'll take this problem. And so they had to remove all that. And you know, well with it. Yeah. and ended up working for the best. There was no foundation issues. There was, it was great. 

Debbie DeBerry 42:41
Nice. That's awesome. Yeah, that's a big, I mean, that's a huge win. Congratulations. Yeah.

Lindsay 42:46
Yeah. And, um, we, we decided when we moved here, like a part of our business, we wanted to be able to like, give back with what we're given. And so along with following you for a really long time, Dylan had also been following community first village. Oh, yeah. Such a really long time. Yeah. So Oh, my gosh, and so yeah, so we Yeah, we decided, before we started, before we even got our first clip that like 10% of the profit of every project we do, we're gonna, you know, put in the love that in there, because we want to build a house for somebody there. Yeah, just 25 grand. And so we were able to, you know, 10% on our first one. We were so excited.

Debbie DeBerry 43:39
That’s awesome. I love yalls hearts. It makes it so much better when there's it's not about us when it's about really giving back. And it's really about doing right for the buyers doing right for the communities that we're in, right. It's not about us. It really is. I know and we just get to do the thing that we love to do.

Lindsay 44:02
Exactly And that's, that's the thing. It was like if we honestly get to live this life successfully. Yeah. Like, what? What more do you need, you know, and so it was like, we have to do something. Yeah. No, it just doesn't make sense. Not to doesn't feel right not to because there are literally people that have nothing. Yeah, no, right. Look, we have and look what we get to do

Debbie DeBerry  44:33
yeah, I love that. And that's awesome.

Lindsay 44:37
We're like 13% of the way there towards building

Debbie DeBerry 44:44
Okay, so since the first one closed, like, two, three weeks ago,

Lindsay 44:50
two weeks, yeah, the January 29. Okay,

Debbie DeBerry 44:54
so now you've got another house you’re closing on?

Lindsay 44:56
Yes, we close. We signed all that paperwork yesterday, we closed today. Then start Work in East Austin. What, what?

Debbie DeBerry 45:07
And you've got a third one?

Lindsay 45:09
Yes, that we closed on March 4, but the owner has a rent back until the 18th. Okay, so we start right after that

Debbie DeBerry45:20
And both of these are also through wholesalers?

Lindsay 45:26
Yeah. Isn't there a different wholesaler? Oh, it's a wholesaler actually found us. Because of the one we just finished. Yeah. And they reached out to us about, you know, putting us on their list and whatever. And so, yeah, we got to coming up. 

Debbie DeBerry 45:46
That’s awesome. So it's interesting to me, because there are people who, in Austin, and in other markets who say there are no deals, there are no, like, hmm. There are deals. So

Lindsay 46:01
Oh, every day you get emails. All most of them are either in areas we're not interested in doing business just because it's far away from a guess. Or the numbers don't work out. But like, you know, like, we were saying it works for someone, right? You know, like, and you just have to get on as many lists as you can, and just get really familiar with your numbers. And something's going to work for you.

Debbie DeBerry 46:30
Right. And take action. You got it. Yeah, jump. Yeah. Yeah.

Lindsay 46:36
Prerably firmly with two feet.That's because that tends to be the way that works out the best. It's shocking to me. Honestly, how much activity? There is here. Yeah, yeah. And, you know, it's awesome.

Debbie DeBerry 46:59
Well, I remember one of the first things y'all said to me was you're seeing these deals, like you're seeing deals, you're seeing people, other investors buy these deals. So there are obviously deals out there. And it really is just a matter of being on all the lists, watching all the deals, and really just acting I mean, yeah, yeah. Just doing it doing the thing.

Lindsay 47:28
Yeah. And, you know, not that you want to operate from gut feelings, but at the same time, like, when you go to a house, and like for us with the first one, you know, like, we were running comps in the car for 20 minutes, you know, like, that's not business smart. Really, you know, like, I mean, it can work. But I understand why the whole first come first serve freaks people out, because you really don't have a whole lot of time, right? To do the analyzing, right? That you think you would need, right? Um, but we also walked in and we're walking through And granted, you know, Dylan's looking at different things. And I'm looking, but we both just were like, good about it. Yeah. Like, and that is huge. Oh, for sure. And so that's, you know, another piece of the equation that made it easier for us to be like, Yeah, let's do it. Because we've gone in several houses where it's like, oh, I don't know.

Debbie DeBerry 48:33
Yeah. Forcing it, this feels forced me like, I want to flip them all. I want all the houses. I want to flip them all.

Lindsay 48:51
Yes, I'm with you. I know. I hear you. 

Debbie DeBerry 48:53
But no, that gut thing is really important. Yes, this is a numbers business. But yeah, you have to be you've got it. You've got to listen to you feel good about what you're doing. Otherwise, yeah. Any weird feelings you have in a house, your potential future buyer pool will also have those weird feelings like in the neighborhood, driving up to the house, like all of those are really important things that people need to pay attention to. It's not just the numbers,

Lindsay 49:27
right. And you know, you have a feeling like that on day one, right? And you're going to spend so much time in that place in that project and those numbers, right, that feeling is only going to get so big that it's gonna suck all your joy. 

Debbie DeBerry 49:43
Totally. That's awesome. That's such a good point. Do you have any, um, advice for people who are just getting started? I know we've we've said some words of wisdom.

Lindsay  50:00
No, I have been really inspired by the community that you've created. And I think that I mean, just looking at that in and of itself, and just seeing every day the support and opinions and and yes, and resources out there that these women who don't know each other from Adam, are, you know, like, why wouldn't you jump into this if you have this to tap into? Right? You know what I mean? Like, yes, it's incredible. Yeah. And, you know, even like Lauren and pragnya, the other day, and, you know, probably talking about how, you know, the people in her personal inner circle are kind of like naysayers. It's like, Well, you know, look at 4000 strangers on the internet, theres strength in numbers here.

Debbie DeBerry 51:02
that's why I'm so picky about, like, the things that get posted in the group and the way that the group is run, because there are plenty of groups that you can go into and have lots of naysayers and have lots of people who are shooting everything. Yeah. People who live to shoot people down. And I'm like, I am not spending my time and energy around that. So I'm going to create this bubble, and awesome women will find it. So there.

Lindsay 51:34
It's incredible. Like, even at the last meetup, just like how many people were there that, you know, don't have been coming since October that we've never seen and, like the the reach that it's having, you know, it's it's freaking awesome. You know, if you build it, they will come

Debbie DeBerry  51:53
feel the dreams!

Lindsay 51:55
It's just like the positive energy that is so attractive. Yeah. Yeah, it's people really need that there's way way too much of the naysaying and the negativity that having that, you know, positive community is life changing for people.

Debbie DeBerry 52:14
Yeah, I know. It's, I know, I know. It totally is. It totally is. And I'm glad that you guys are part of it. Like I'm seriously I'm so grateful that his grandma found me whenever

Lindsay 52:28
If grandma can find you anyone can find.

Debbie DeBerry 52:36
But really, like, just thank you for being a part of it. And thanks for y'all are just awesome. I love you guys. So thank you for sharing your story.

Lindsay  52:46
Yeah, thanks for you know, thinking our stories worth telling. And

Debbie DeBerry 52:50
yeah, it is, you know, circle back.

Lindsay 52:53
And I know it's gonna be exciting to see what other kind of trouble we can get ourselves in to, in the Spring.

Debbie DeBerry 53:02
I know. I know. The time is the time is now is now. 

Lindsay 53:06
Oh, we have it now. Uh huh. All right, lady. Thank you. I hope you have a great day. 

Debbie DeBerry 53:10
You too. Tell Dylan. Hi.

Lindsay 53:15
I will. Alright.

Debbie DeBerry  53:16
Bye, Lindsey. Thank you. Yeah. There you have it. There is part of Lindsey and Dylan story and you'll hear more from them because it's just too much fun talking to her. So they're all right, you guys. Until next time, go out there. flip houses like a girl. Leave people in places better than you find them and make it a great day. Bye y’all.