Flipping Houses to Fuel Apartment Building Acquisitions & Passive Income with Sterling Chapman
In this episode, Sterling Chapman shares the techniques, systems, and tools he has used for flipping real estate and single-family residences in order to fund his apartment building investments. He also discusses what distinguishes him and his flipping as well as lessons related to flipping in real estate.
[00:01 – 04:40] Opening Segment
- Sterling shares about his background and how he got into real estate
- Started by burring houses and duplexes
- Buying his first apartment syndication project in February 2021
[04:41 – 09:04] Flipping Strategies
- Going broke when you first start flipping
- Getting deals from wholesalers in the local market
- Building relationships and making sales and house fixes public
- Outsource whenever you can
[09:05 – 16:45] Working with Wholesalers and Scaling Up
- Working with people who are willing to do the work
- There is no guarantee of success but he will help
- There are wholesalers who don’t want to share resources
- Started by doing everything himself
[16:46 – 22:35] Funding His Own Apartment
- Just recently started in house flipping
- Investing more to get a bigger return long term
- Flipping is risky
- Investing in apartment syndication to mitigate taxes and loss
[22:36 – 27:59] Closing Segment
- Quick break for our sponsors
- The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor. Learn more about Personal Capital at escapingwallstreet.com
- What is the best investment you’ve ever made other than your education?
- The 2 house flips he sold earlier this year
- Sterling Chapman’s worst investments
- The first house that he bought
- What is the most important lesson you’ve learned in business and investing?
- A good business person is not being a shrew negotiator
Connect with Sterling Chapman:
Website: https://crestworthcapital.com/
Email: [email protected]
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Tweetable Quotes:
“I don’t think that being a shrew negotiator and squeezing every last dime outta the deal is what makes you a good business person. I think what makes you a good business person is having everybody want to do business with you over and over. ” – Sterling Chapma
About our Guest
Sterling Chapman
He spent his early career in the financial services industry focusing on retirement and insurance planning before eventually transitioning to the Telcom industry.
Through his successful corporate career in Telcom, Sterling has mastered the art and science of sales, funnel management, marketing, account management, strategic business planning and financial forecasting. He began his real estate investing journey in early 2018 purchasing single-family houses and quickly moved up to duplexes and fourplexes, flipping houses and eventually large multifamily.
Sterling has over $26.5M in Assets under management and his portfolio now consists of 82 single family or small multifamily rental units, a 53 unit apartment complex in Newnan, GA and a 70 unit complex in Rock Hill, SC.
Self-managing and overseeing the renovations personally for the first few years has taught Sterling a ton about the industry. In addition to founding Crestworth Capital, he is also the Host of The Rent Roll Radio Show, Co-host of the Red Stick REIA and has been featured as an industry expert on dozens of other real estate podcasts.
