{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/5ddc9fe99d861b70468f0d1a/5ddca02e56dc9f1f1a499dd7?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"HFHQ 18: The King of Appraisals – Rick Solis (Part 1)","description":"<p><strong></strong></p>\n<p>Rick Solis is a master of evaluating properties and is currently the main appraiser for the Norris Group.&nbsp; He's appraised over 12,000 properties, averaging more than 500 per year, has done 200 real estate transactions of his own and has been involved in around 250 loans.</p>\n<p>From early beginnings buying his first rental property at the age of 20 and working as an appraiser for over 2 decades, Rick is the guy to talk to when you want to understand how to properly evaluate properties.&nbsp; In part 1 of our interview we discuss his journey as well as his approach to long and short term real estate investing, specifically rental properties and dealing with tenants,</p>\n<p>Have any questions for Rick or myself? <strong>Just post them in the comments area below!</strong> And if you like what you hear, be sure to<em> </em><em></em><a href=\"itms://itunes.apple.com/us/podcast/house-flipping-hq-podcast/id730653890?mt=2\" target=\"_blank\" rel=\"noopener noreferrer\">click here to subscribe in iTunes</a>. And while you’re there, why not <strong>leave us a review and five-star rating?</strong></p>\n<p>Plus, don't forget that we will be starting up a first-of-its-kind <strong>House Flipping Mastermind group</strong> in February! If you'd like to get information on the upcoming webinar or any other information, just sign up here: <a href=\"http://houseflippinghq.com/mastermind\" target=\"_blank\" rel=\"noopener noreferrer\">houseflippinghq.com/mastermind</a></p>\n<h2>Show Notes</h2>\n<p>In this episode we cover:</p>\n<ul>\n<li>Rick's work as the main real estate appraiser for the Norris Group</li>\n<li>The main way Rick finds deals today and why he doesn't use Direct Mail</li>\n<li>Why Rick prefers rental properties to flipping houses</li>\n<li>Rick's optimal time to sell a house</li>\n<li>What Rick looks for in a house when it is occupied and how he deals with existing tenants</li>\n<li>The eviction process and Rick's no-stress way to evict bad tenants</li>\n<li>Why it's important to factor in the worst-case-scenario when you get a deal from an unknown wholesaler</li>\n<li>What Rick looks for when he is evaluating properties as an appraiser</li>\n<li>Rick's approach to finding and analyzing comparables</li>\n<li>The difference between looking at comps as an appraiser vs. an investor</li>\n</ul>\n<h2>Memorable Quotes</h2>\n<ul>\n<li>“When I'm flipping it's just for income.&nbsp; When I think of myself as an investor, I'm trying to take the profit out of a sale and move if forward.” ~ Rick Solis</li>\n<li><strong>“I hate rental houses”</strong> ~ Rick Solis [<a href=\"http://ctt.ec/Ft0nU\" target=\"_blank\" rel=\"noopener noreferrer\">Tweet this!</a>]</li>\n<li><strong>“20% of our rentals provide 60% of the hassles”</strong> ~ Rick Solis [<a href=\"http://ctt.ec/Yf43c\" target=\"_blank\" rel=\"noopener noreferrer\">Tweet this!</a>]</li>\n<li>“I hate selling a house between Holloween and Valentine's Day” ~ Rick Solis</li>\n<li>“If I'm discounting the rent, then they're taking care of the maintenance” ~ Rick Solis [Tweet this!]</li>\n<li><strong>“There is nothing worse than doing a double rehab within a year”</strong> ~ Justin Williams [<a href=\"http://ctt.ec/e28aD\" target=\"_blank\" rel=\"noopener noreferrer\">Tweet this!</a>]</li>\n<li><strong>“You have to wear pants to court, and I hate that”</strong> ~ Rick Solis [<a href=\"http://ctt.ec/oYzVD\" target=\"_blank\" rel=\"noopener noreferrer\">Tweet this!]</a></li>\n<li>“You don't need to know everything to get started in this business” ~ Justin Williams [Tweet this!]</li>\n</ul>\n<h2><strong></strong>Transcript</h2>\n<p><a title=\"HFHQ 18 TRANSCRIPT: The King of Appraisals – Rick Solis (Part 1)\" href=\"http://houseflippinghq.com/blog/hfhq18-transcript/\">Click here to Read and Download the Transcript for Episode&nbsp;18</a></p>\n<h2>Links and Resources</h2>\n<ul>\n<li><a href=\"https://www.facebook.com/pages/Orange-County-Investment-Club-FIBI/124636920948455\" target=\"_blank\" rel=\"noopener noreferrer\">Joe Lahore Investment Club</a></li>\n<li><a href=\"http://www.thenorrisgroup.com/\" target=\"_blank\" rel=\"noopener noreferrer\">Norris Group Website</a></li>\n<li><a href=\"http://www.fastevictionservice.com/\" target=\"_blank\" rel=\"noopener noreferrer\">Fast Eviction</a></li>\n<li>Interested in the Mastermind Group? <a href=\"http://houseflippinghq.com/mastermind\" target=\"_blank\" rel=\"noopener noreferrer\">Get information here.</a></li>\n</ul>\n<h2><strong>Other Items Mentioned</strong></h2>\n<p>We are going to announce the winners for the contests with <strong>Robert Fragoso</strong> and <strong>Ryan</strong> <strong>Skalla</strong> on Episode 19 of the podcast!&nbsp; I can't wait! <em> Is it you? </em> Come back on Friday and find out! <img src=\"https://s.w.org/images/core/emoji/12.0.0-1/72x72/1f642.png\" alt=\"🙂\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\" /></p>\n<p>Our recent<strong> iTunes Charity Challenge</strong> raised $360 to help out families in need during the holidays! A big THANK YOU to everyone who participated.&nbsp; You helped several family's have a hope-filled holiday season!</p>\n<h2>Like what you hear?</h2>\n<p>If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! <a href=\"itms://itunes.apple.com/us/podcast/house-flipping-hq-podcast/id730653890?mt=2\" target=\"_blank\" rel=\"noopener noreferrer\">Head on over to iTunes</a> and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. <img alt=\":-)\" src=\"http://houseflippinghq.com/wp-includes/images/smilies/icon_smile.gif\"> <a href=\"itms://itunes.apple.com/us/podcast/house-flipping-hq-podcast/id730653890?mt=2\" target=\"_blank\" rel=\"noopener noreferrer\"><em><strong>Click here to leave a review and rating</strong></em></a> If you have any<strong> questions or comments</strong> about this show or it’s contents, <em>please post them in the comments area below</em> and I’ll be happy to answer them!</p>\n<p><em>Image Attribution: By barrett4wi [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons</em></p>\n<p><iframe src=\"//www.youtube.com/embed/yHvuuvP97po\" height=\"315\" width=\"560\" allowfullscreen=\"\" frameborder=\"0\"></iframe></p>\n<p>The post <a rel=\"nofollow\" href=\"http://houseflippinghq.com/hfhq-18-part-12-dealing-tenants-rental-properties-rick-solis/\">HFHQ 18: The King of Appraisals &#8211; Rick Solis (Part 1)</a> appeared first on <a rel=\"nofollow\" href=\"http://houseflippinghq.com\">House Flipping HQ</a>.</p>","author_name":"Bill Allen"}