Afraid To Micro-Flip Real Estate? Consider This $18,000 Micro-Flipping Success Story from Sharee Reese

Speaker 1 (00:00):

Meet Sharee Reese who made $18,000 on her first micro flip, after she found a vacant property, right at the beginning of the pandemic.

Speaker 2 (00:14):

Welcome to this week’s episode of the real estate Cash Chronicles, where we speak with real ambassadors from around the country to break down individual deals. They’ve completed showing you the actual timeline of events that it took to make a profit making money in real estate. Isn’t a mystery, it’s a step-by-step process, but once you complete one, you’ll never think about cash the same way let’s get started.

Speaker 1 (00:38):

Welcome to this week’s episode of the real estate Cash Chronicles. And on today’s episode, we talked to Sharee Reese about how she made 18 K and under 60 days, for those of you who are new, my name is Patrick Giarelli proud host of Cash Chronicles and a happy member of the connected investors, family, and team. Hey, look, before we go any further look, make sure you go to the connected investors.com, get your free stuff. Follow this hit. Give me some likes, give Sheree some feedback. This is what it’s all about building this relationship with Sharee and with our fellow listeners as well. So let’s jump right into this Sharee. If I understand correctly, you got this as a vacant property.

Speaker 3 (01:36):

Yes. Okay. Okay.

Speaker 1 (01:38):

So I absolutely want to just say welcome to the show and how are you today?

Speaker 3 (01:44):

I am awesome. A little nervous, but awesome.

Speaker 1 (01:48):

Well, I am super happy to hear about your awesomeness and I’ll tell you, Hey, look, just relax. It’s just two people having a conversation and we’re, we’re, we’re really happy to have you with us today. That’s for certain. So let’s talk about the beginning of this process that you went through first. What was the process in finding the vacant lot?

Speaker 3 (02:17):

Well the process was going through a tons of properties on the pen software and just calling, calling numbers just all day, every day and trying to just reach out to, to homeowners. And that was kind of the process I use. I would pick out about 50 to a hundred properties every day and just go through and, and see if they made sense. And I would just get on the phone and see what I could cast my net, so to speak and see what I could catch.

Speaker 1 (02:48):

Absolutely. So you called between 50 and a hundred people a day.

Speaker 3 (02:56):

That’s amazing

Speaker 1 (02:56):

Commitment. And I’ll tell you one investor to another. That’s what it takes. That’s, that’s, that’s phenomenal on your behalf. Do you know approximately how many calls you made before you hit on this deal?

Speaker 3 (03:16):

Oh gosh, a couple hundred. I know. Okay.

Speaker 1 (03:20):

Okay. So at least a few hundred. Yes. Yup, yup, yup. Yup. And, and, and, and you know what to, to, to you and to me and to the other investors listening, that’s the business wouldn’t you agree? Absolutely. Absolutely. Yeah, yeah. Yeah. I mean, I, when I talk to other investors like myself and you, I regularly say, Hey, you’re going to get more. No, no, absolutely.

Speaker 3 (03:49):

Yes. Is all that matters, but you just can’t, you can’t stop before you get there. Yeah.

Speaker 1 (03:55):

That’s fantastic. The yes. Is all that matters. Absolutely. Let’s dig into that for just one second. So when you get a no, what do you do?

Speaker 3 (04:07):

I’ll move on until I can get a yes. And sometimes I consider the nose to be a maybe, and maybe they’re just not ready right now. And then I’ll eventually follow up and see if it’s a yesterday.

Speaker 1 (04:19):

Phenomenal. I mean, absolutely. Perfect. See, one thing that Cash Chronicles wants to do is we want to go through that step-by-step process. But another thing that Cash Chronicles wants to do is pull out the wisdom, the logic, the mindset that it takes to be a successful Real Estate investor. And then you move on to the next one. I mean, fantastic, man. That makes me happy. So, so tell me a little bit more about this particular vacant property. T tell me about it in general. What, what do you know about it? Was it a home? Was it a lot? Was it a mansion?

Speaker 3 (04:59):

It was a home, a single family home. How many beds and bash? It was five bedrooms and two bath.

Speaker 1 (05:10):

Okay. What kind of condition was it in?

Speaker 3 (05:14):

It was a pretty old so it wasn’t in the best stay set.

Speaker 1 (05:21):

Okay. Okay. Okay. That’s fine. That’s fine. So how did you, so you got the seller on the phone by going through your 5,200 phone calls a day? Yes. Okay. So then what did you do to figure out your offer to the seller?

Speaker 3 (05:44):

Kinda went through and ran some comps in the neighborhood and kind of see what the homes were worth around that area. Kind of tried to estimate repairs as best as I could with no knowledge of estimating repairs at The best of this that I could. And I, and I enlisted some help from some other people in the business to kind of help me to run things by them as I went along.

Speaker 1 (06:17):

Okay. So what was your buy price?

Speaker 3 (06:22):

The buy price that I got it for just a second,

Speaker 1 (06:28):

If you don’t remember, it’s not a big deal. I was just curious. But what we, what we do know factually is that, you know, down the road, it turned into it, a check for 18,000. Okay. Okay. And you know, something else you said that I heard that was real important in there, and I just want to touch on it for a brief moment is you reached out for some help with some other investors and in your experience, have other investors been willing to help?

Speaker 3 (07:04):

For the most part, the ones that I, I know, yes, they are. They’re definitely having been very helpful.

Speaker 1 (07:10):

I would totally agree with you. I think most of us are, are able and willing and excited to help people up the ladder. Absolutely. Yup. Yup. Yup. Okay. Sheree. So once you knew it was a gun, did you have to use any of your own money or did you use any money from private lenders.com?

Speaker 3 (07:35):

No, I didn’t use any, any money from the private lenders. I did just use a little bit of my money to put down the earnest money deposit once I went to that. But that was, that was it.

Speaker 1 (07:45):

Okay. and then did you have any aha moments or, you know, was there something particular that just said, Oh, wow. That made this super simple

Speaker 3 (08:04):

I mean everything because of the education and like I said, the studying that I’ve done to do it, everything was pretty smooth. And I kind of had things in and process and prepare myself for, in case I gotta deal as far as reaching out and learning what title companies to use, what to use for these particular things long before I ever got a deal so that when the time did come, I knew are at least, you know, somewhat of what I was doing.

Speaker 1 (08:33):

That’s perfect. That’s absolutely perfect. So again, just to, just to make sure I’m following, and of course our listeners as well. So by using the pin software, you found vacant property listing, you made a couple hundred calls where you finally had a productive conversation with the seller. You’re not, you got that property under offer to purchase contract. You used some of your own earnest money or some of your own money towards the earnest money, because you had already done the research. You knew what title company to get everything over to. Yeah, that’s great. So now I guess the next step is so you, you S you assigned this, correct? Yes. So how did you find your cash buyer?

Speaker 3 (09:35):

Networking, like I said long even before having, you know, the software going to our local Real Estate investing meetings here and just reaching out and talking to as many investors as I could see it kind of, and I kind of studied cause we have like a, they have a Facebook group for investors and I’m constantly on there reading and seeing what other investors are looking for in the area. So then I go back to Penn and I try to find those specific properties even without talking to the buyers that are looking just so in case I do have something, I have sort of a people out that I know that are looking for those types of properties that I can reach out to. Should I get something out of the contract?

Speaker 1 (10:20):

Absolutely. That’s how that works. And you said something real important in there and just to follow up networking and, and, and, and you said it, but, but what I heard was even more, so you network with people through the pin software, you network with people through Facebook groups, you network with people at REI Real Estate investment meetings. There’s so much power in that because it boils down to relationships often, man, I, I think you’re easy to talk to Sheree. Yes ma’am. So did I also hear, I mean, I digress here for a second, but I think it’s important that I also hear or read that, that you yourself had COVID. Yes. How are you?

Speaker 3 (11:20):

I’m doing much, much better

Speaker 1 (11:22):

Now. Okay, good. I mean, to think that you got started you know, at the cusp of the pandemic, you’ve found well earned progress and economics, and then unfortunately you get the darn pandemic yourself. Oh, Lord. Help us. So how long did it take from offered a purchase contract to title company to assignment, to closing

Speaker 3 (11:59):

Literally just a little over 30 days? Not, not long at all.

Speaker 1 (12:03):

That’s great. 30 days. That’s great. And, and from what I want to think, we knew here was an and you at the end of this got a one lump sum payout of $18,000 mindblowing. Yeah, that’s fantastic. So what were you, what were you doing before you dove into the Real Estate investment world?

Speaker 3 (12:38):

Well, I was a therapist prior to Real Estate in general. And I kind of wanted, I was always interested in Real Estate. And so my initial goal was to just get my Real Estate license and become a realtor, which I did. It was kind of, I hadn’t thought about leaving therapy or anything like that. I didn’t know anything about investing just as a way to kind of make some extra, extra money. So I got licensed and as I was going through classes and you know, for my relatives, continuing education things, I would always take classes and I took an investing course and learned about investing and kind of fell in love with that, that idea. So fast forward I decided, you know, after a while that this is, this is pretty awesome. So I wanted to do Real Estate. Full-Time not necessarily as an investor, but as a realtor. And so I was able to save up some money to take some time off, because it was definitely hard trying to learn the Real Estate business and work my full-time job. And I wanted to make money in Real Estate. So took some time off, dove into found the PN and kind of dove in there and kind of the rest is history.

Speaker 4 (14:01):

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Speaker 1 (15:00):

When I heard, if I do quick math, quick math, $18,000, 30 days, it’s like $750 a day. I can’t think of many professions that you can make that type of money in a month. So here’s a sticky thought. So, you know, if you were going to redo this whole step-by-step process again, is there anything that you would have done differently?

Speaker 3 (15:38):

Did it sooner? That’s the only thing I can think of because I can’t think of anything that would have been better because that was better than even what I thought I was not expecting anything like that to happen. I just wanted to have some type of, of success. Never thought that it would be would it turned out to be so, no, I would not. I would not change anything other than doing it

Speaker 1 (16:02):

Get started sooner. What amazing words of wisdom, man. Ah, you’re making me fired up Sheree and I’m, don’t take too much, but you’re, you’re, you’re doing it and I appreciate you. I appreciate you, man. If it’s, if, if it’s other investment partners who listened to this or if it’s, if it’s people that I know or things that maybe I read or story reads it regularly comes down to just do it get started, right? Yeah.

Speaker 3 (16:34):

Yes, absolutely. Take action. That’s that’s that’s it?

Speaker 1 (16:38):

Oh, Hey. So Real Estate is usually a stepping stone for many people. Meaning you can make a lot of profit in Real Estate to help you fund your longterm goals. Has there been a moment in the past 11 months where you were able to really feel, or, or let’s let’s let’s go intrinsic first. Did you feel, was there a moment where you felt I made it?

Speaker 3 (17:10):

Oh yeah. The first check. Yeah. I mean the first check, even you, no other check is even as big, even if I could get close to any. Yeah, that was it. I know, because I knew now it’s possible. It’s no longer a this as a possibility or this could happen. No, it definitely happened. And now I’ve got to continue to do, do what I got to do to make it happen again many, many times over. Yeah,

Speaker 1 (17:37):

Man, we believe we should. We should just interview you more often. This, this, this people, I mean, for me, for our listeners, I mean, what she’s saying is so valuable and so real, so authentic, and I certainly appreciate you sharing this with us today. It’s really, you, you can change your own life when you’re ready to change your own life. Yeah. So with that being said, have you made any big purchases or a big vacation or anything that

Speaker 3 (18:16):

I definitely have things planned for, for me and my kids, because, because because of COVID we had a trip to Disney world that was, we were supposed to take in June that we unfortunately were not able to, to go on. So I’m definitely gonna redo that trip, but I’m also in the process of, I’m about to put in an offer hopefully later on today on my first split. So hopefully I’m keeping my fingers crossed and all goes well with that. And I can get started on that and I can no banks, I can buy it, hopefully with my own money that I’ve earned from doing this.

Speaker 1 (18:51):

Nice. That’s amazing. I mean, I love the idea of Disney world. You, you think the Disney world trip will be a little bigger than what it was going to be. Oh, good for you. Good for you. So just roughly, you know, March of 2020, here we are in 2021, roughly how much have you made by micro flipping in 11 months?

Speaker 3 (19:28):

Oh, I have hit about almost 80,000. Yes.

Speaker 1 (19:35):

I mean 80 grand. That’s fantastic. I’m so proud of you. Oh, that’s just great. That is just great. By the way, where are you located? I am

Speaker 3 (19:49):

Located in Dayton, Ohio

Speaker 1 (19:52):

In Ohio? Yes. Do you have snow currently? Lots of snow.

Speaker 3 (20:00):

Lots of snow. It’s got a fresh back yesterday.

Speaker 1 (20:04):

Yes ma’am yes. Ma’am. Well, well, so, so let me ask you this. Why Ohio?

Speaker 3 (20:11):

Well, I was born and raised here. I didn’t really have a choice in that, so,

Speaker 1 (20:15):

Okay. Okay. That’s more than reasonable. You still, are you still surrounded by family and friends? Yeah. It’s, it’s tough to put a value on being surrounded by family and friends, even if you’re also surrounded by a few feet of snow. Yes.

Speaker 3 (20:36):

Used to it. But yeah, it, it, I just learned to deal with it. It’s we know it’s coming eventually.

Speaker 1 (20:42):

Yeah, yeah, yeah. For what it’s worth, I, myself am originally from Painesville, Ohio. I know the snow life and I, I would just tell you to, you know, stay bundled and of course, take your boots off at the front door.

Speaker 3 (21:02):

Absolutely. No, no. Good. That’s exactly what, what happened.

Speaker 1 (21:11):

So sorry, what habit would you credit your new found success to?

Speaker 3 (21:20):

Just discipline. Discipline is definitely something that is because it is easy and it can be easy to get discouraged trying to do this in the beginning. It was, for me, it can the nose and all the calls and just not seeming like things are moving the way that you, you know, see them moving. When you look at TV or things like that, it’s nothing like that. But it takes, if you remain disciplined and just do the steps that you need to do, you’ll eventually have, have some progress.

Speaker 1 (21:53):

Discipline is a fundamental institution, local Real Estate investor. And I, I, your answer just gave me tingles so much of our lives boil down to discipline. And then how you apply it to your business. That’s what separates you? I, I know it to be true. And yes, there was something in there that I, I might’ve laughed at or smiled at, but I love saying this to my wife, especially one Real Estate investor to another it’s not like the 30 minute shows people watch on H

Speaker 3 (22:40):

Absolutely not.

Speaker 1 (22:46):

It’s just, I mean, that’s so entertaining. Right. And that’s what they’re supposed to do. And then there’s us hardworking people who have had some different paths.

Speaker 3 (23:01):

Yes. Definitely have to go through some storms to get, get to some, the sunny it’s on your side or things.

Speaker 1 (23:13):

Oh my goodness. So when, when you were a, you know, realtor, did you, did you make any money or

Speaker 3 (23:26):

Dolly?

Speaker 1 (23:29):

So, I mean, I mean, so when, when, when you were a realtor, you made $0. When you going to say hung that hat up and Tobin to pin yourself, you’ve made 80 grand seems like a smart choice. Yeah, absolutely. Man. I’m, I’m I’m again, I’m, I’m super happy for you. I think I also saw here, so, and you mentioned children.

Speaker 3 (24:00):

Yes. I have two boys,

Speaker 1 (24:01):

Two boys. Fantastic. Are they, are they watching what mom does and taking notes?

Speaker 3 (24:08):

Absolutely. Yes. They love it. They’re my biggest cheerleaders. Yeah.

Speaker 1 (24:14):

That’s awesome. I mean, that’s right. I mean, and here’s what I know about good parents. And you are their biggest cheerleaders. Oh,

Speaker 3 (24:23):

Absolutely. Well,

Speaker 1 (24:25):

Keep making the memories. You know what I mean? That that’s, if I had a dollar for every time, I say weekly family first. Yeah. Maybe I wouldn’t have to work, but I just think that perspective is so very valuable and happy for you and your sons. Well, Sheree, believe it or not. You’ve done it. Thank you. Well, I feel like we went through a pretty good step by step process on our, where you started and where you are now. Now before we let you go, though, we do have a little section that we call rapid fire. Okay. So I’m going to ask you a series of questions and you answer them as fast as you can. Literally just the first thing that comes to your mind. Are you ready?

Speaker 3 (25:17):

I think so.

Speaker 1 (25:18):

Okay. Look, this is not pass fail. This is just real. So one, three, ready? Set. Go scale of one to 10. How strict were your parents?

Speaker 3 (25:32):

Oh, nine,

Speaker 1 (25:34):

Get up early or stay up late?

Speaker 3 (25:40):

I do a little bit of both, but I would say mostly get up early because I get up at the same time. No matter what, at what time I go to sleep.

Speaker 1 (25:48):

Now you got me curious. What time is that?

Speaker 3 (25:53):

That I go to sleep or that I get up. Get up, get up at 5:00 AM every morning

Speaker 1 (25:59):

As a winner would yes. Ma’am. How many hours of sleep do you average?

Speaker 3 (26:07):

About six. Okay.

Speaker 1 (26:09):

If you came across an extra hundred thousand dollars, what would you do with it?

Speaker 3 (26:17):

Invest into force by another, another split. Definitely.

Speaker 1 (26:24):

Hey, your, your favorite or last book that you’ve read?

Speaker 3 (26:30):

Favorite book? The millionaire Real Estate agent by Gary Keller.

Speaker 1 (26:36):

If you could be any superhero, who would it be?

Speaker 3 (26:43):

Wonder one,

Speaker 1 (26:45):

Something everyone should do less of something, something everyone should do more, have more, have more gratitude and grateful before head here. Bitcoin bang or bust. I don’t know a whole lot about it to say either way, but I think it could be a bank. Will people live on Mars in your lifetime? I hope not. No. Hey, well, look, Sharee, thank you so much again for joining us today on the Cash Chronicles podcast and YouTube show. We, we need great contributors like yourself to give the show some umph. And I’m very confident that you did that today to all of our listeners and viewers. And remember go subscribe that way. It’ll just show up. When we got new episodes, it was a thumbs up. Leave a comment, share it with your friends, share it with your neighbors, share it with your family. If you know somebody who needs a little nudge this episode was Sharee could easily be the nudge that they need.

Speaker 1 (28:13):

Go to the website, go to connected investors.com any time, poke around. See what you see. There is so much valuable information@inconnectedinvestors.com that you might as well take advantage of it. And for what it’s worth, if you want me or our listeners to talk about specific things, send us some specifics. We’ll see if we can fit your mold and your expectations. But until then, I would just merely say thank you for listening and watching us today. Thanks again to our wonderful guests Sheree and to all of our faithful family, friends and listeners, I would say, get your lenses right? And you’ll make an impact on your own life until next time. This is Patrick. Thanks a lot.

Speaker 5 (29:10):

[Inaudible]

Speaker 6 (29:11):

Want to be like a guest on our show and make some cash in real estate. Join the center of the real estate investing universe and start connecting with free education off-market deals, cash buyers, and even funding partners. Connected investors.com has been changing the game for people around the country since 2005. So just visit connected investors.com forward slash cash. So you can start doing more with real estate, no matter where you are in your journey to financial seriously, guys, if you were brand new to this and looking to close your first deal, there is not a better headstart out there to help you find properties and learn what you need to make cash. If you’re already an experienced flipper or landlord, then connected investors gives you access to dozens of unique inventory sources and automations that cannot be found on any other platform in the industry, connected investors.com forward slash cash. Go there, claim your free account, get your gift pack. And then, well, don’t look back, jump in and put that whole ecosystem to work for you because all guests of this show come directly from the connected investors community and would love to interview you after your first or next life-changing real estate deal.

Speaker 5 (30:33):

Peace y’all.