Exciting times around the old Dominion Headquarters. If you want to learn how to start rehabbing houses – you’ve come to the HUB of all things real estate investing! All four companies comprising The Dominion Group are firing on all cylinders, and as you’ll soon read, this ain’t no Yugo.
Dominion Properties has a full pipeline of deals and is churning out gorgeous retail projects and rock-solid rentals at a factory-like pace. This year we’ll buy 100-150 houses. Some we’ll wholesale, some will be retail projects, and some will be added to our growing portfolio of single family rental houses. At any given time Dominion Properties has 50-60 projects in some stage of construction.
Dominion Management is setting new standards for residential tenant management. With just a few key employees, Dominion Management manages over 750 houses. We lead the industry with a 94.5% occupancy rate and an unheard of average tenancy of 5.5 years. All of our tenants are subsidized with some form of voucher, so our understanding and management state and federal inspection programs is critical to our success.
Dominion Financial Services is now lending to real estate investors, nationwide (with the exception of California and Nevada). The company is growing rapidly and is now the most competitive lender in the industry for investors at every level. There isn’t a lender who can beat us in terms of service, speed, reliability, and rates.
Our newest company, The Dominion School of Real Estate is also coming along nicely. We now have four students who are all absolute Superstars! Seriously, I could not be happier with this group of really great people. We’ll highlight the accomplishments of Lee and Jason – our very first students in this Blog and DominionFLIP.tv update.
Lee and Jason came to us only a couple months ago. They are no different than most. They both work full-time jobs, have families, and all the responsibilities that go along with each. Both have experienced success in their respective careers and both are entrepreneurial at heart. But – the thing that really impresses me the most is – Lee and Jason are driven to succeed. Just like you and me, they are busy guys. They could make a TON of excuses for why they have no time to reach for their dreams, but instead – they are out there working every day towards their dreams! Since coming aboard, they’ve worked incredibly hard to set up their business, and to learn the critical skill of estimating rehab repairs.
If you’re reading this, you have more than a passing interest in learning to invest in real estate. I think that’s pretty cool. The fact is, there are many moving parts to real estate investing success. If you want to learn how to start rehabbing houses, perhaps no skill is so important as managing rehab repairs, and specifically estimating rehab repairs.
Learning to estimate repairs is so important, we’ve made it one of the cornerstones of what we teach here at The Dominion School. By the way, I get asked all the time, “Is the school like a college? Where are the classrooms?”
Look people…it’s just a name! We teach real estate investing (better than most!), and therefore we call it a school. You don’t live on campus. There is no campus. You don’t report to class. There’s no syllabus and no book reports.
The Dominion School of Real Estate is not even an education institution. It is rather an “experience” institution where you will do deals! As a student, you will do at least 3 deals, depending on the level you choose (Master’s or PhD). There’s no set schedule. No curriculum, per se. We help you set up your business, we help you choose a marketing plan that fits who you are, we help you learn how to estimate repairs, and finally, we help you get through 3 deals from start-to-finish. This is REAL learning – not through books, CD’s, 0nline videos, or stupid phone coaching. This is EXPERIENTIAL learning where you will earn a significant amount of money while learning all aspects of running a real estate business.
But I digress – back to my boy’s Jason and Lee.
DOMINION STUDENTS: JASON & LEE
I really like these guys. Check out their intro video, here.
Jason is the numbers guy. With an iPad always close at hand, Jason loves the numbers. He’s very technical, a bit reserved, and obviously very smart. From a young age, Jason learned the business of Title Abstracting through his family’s business. After college, Jason joined the company and says he got “the bug,” for real estate investing while performing his daily activities as a Title guy. His company does all the research for many local title companies and title attornies. Jason sees the front-end of the deal when an investor purchases a house, then sees the back-end of the deal when they sell it. He says he got tired of seeing the big money investors were obviously making on deals. He knew if they could do it, so could he, but like many, he was fearful of losing the nest egg that he’d worked so hard to accrue.
Lee is my kind of guy. He’s WYSIWYG (what you see is what you get). Affable, energetic, eager to learn, and never at a loss for words, you can’t NOT like Lee. He’s a scrapper! I see Lee as a natural sales-guy. He’s comfortable with people and comfortable sitting in front the computer coding a web-based app. With very little help, Lee will be a killer with contractors. I see the drive in Lee. I see his will to work hard and to succeed – and I firmly believe that he and Jason will do just that.
I guess the thing I like about Jason and Lee (and all of our students) is that they do not come off as entitled. They’ve paid us a good deal of money to be in the program. Several years ago I had Mentoring students who were paying me 1/2 of what we charge today. I found that MANY changed from almost the moment that I took their deposit to be in the program. Many acted as if they owned me and my time. They acted as if I owed them something. I don’t get the same from our current crop of students. They are super-solid people. Each student understands that he/she is solely responsible for his/her success. We can help (and we will), but we can’t do the work for you!
WE SUPPLY THE FIRST DEAL…AND MUCH MORE
As part our agreement with every student, we find and supply the first deal. I know…pretty cool right? It get’s better. See, we think it’s important to put our money where our mouth is. To that, we source the first house – and we put up 100% of the money for the deal. The student then does all the work (with our guidance, of course). We have a lot of deals in our pipeline, so students are never mandated to take a deal we send their way, but to keep the playing field even, we give every student $15,000.00 upon the sale of the first deal. Why 15-grand? Well, we know that the average NET profit per deal is $30,000. In this program, we split the NET profits 50/50 on each of 3 deals. $30 / 2 = $15,000! We think it’s REALLY important for students to feel and experience success as soon as possible upon acceptance into the program. That’s why we source the first deal, that’s why we put up our money, and that’s why we give them $15K upon completion. The feeling of success at that point becomes addictive and the students are highly motivated to do more.
Name one other real estate education company in the country who can make that claim! If you can think of one, please comment below. I’ll be sure to reply. I don’t expect to hear from you because there is NO OTHER coaching program in the country who has a success model like Dominion’s
As soon as we recognized that Lee and Jason were ready for a deal, we simply instructed them to pick a house from our extensive pipeline of deals. Upon acceptance into the program, every student gets access to our Podio workspace. We’ve customized Podio to be our Project Management CRM. We track the progress of every flip and every rental from start to finish using Podio. The software has revolutionized the way we rehab houses here at Dominion. It’s THAT important. So much so, we give each student access to Podio so they can then learn how to
utilize it for their respective businesses.
The guys did their work and chose a crappy little townhouse in Owings Mills. Actually, it’s not so little…but it’s extra crappy. As part of their homework, they did a thorough walkthrough of the property to get a vision for the end product and to create a scope-of-work. Once that was complete, I was able to meet with them at the house to go through each line item, one-by-one. We started outside, worked our way to the basement, then an hour or so later, finished up in the master bedroom.
I’ve looked at a LOT of houses over the past 10 years, but I have to say, it never gets old. I still love it. I still get a little giddy when I think of the end-product, and collecting that FAT check at closing. It is still a complete RUSH (no, not that RUSH), and the feeling of profound accomplishment that you get as you go through each step in the rehab process is far better than any drug.
HOW TO START REHABBING HOUSES
If you have the desire to do what Jason and Lee are doing. If you dream of being a big time flipper, but you don’t quite know how to start rehabbing houses, AND you think you’d like to learn from Dominion – we’d like to speak with you. You’ll be coming aboard with one of the most successful residential investment firms in the entire country. There is no better company from which to learn than The Dominion Group.
To be considered for acceptance into the program, you must be in Maryland, you must have significant cash reserves, and you must be ready to hit the ground running! EMAIL me right now. Tell me a little about you, about why NOW is the time, and why you are right for our program.
I promise to reply to every email.