Learn how to flip houses at a high level from one of the best flippers, ICC coaching client Brock Thomas.
If you’re trying to learn how to flip houses at a high level, look to someone who’s doing it right. In my opinion, no one is doing it better than Brock Thomas and his team in Kansas City, MO.
In May of this year (2022), ICC hosted a real estate conference in the beautiful Florida Keys. As a part of that conference, I brought up a panel of top producers to speak to the attendees about their real estate success stories.
If you missed this conference, you can enroll in our FREE online course, the ICC Real Estate Conference 2022 Summary Replay, and gain access to several of our powerful mastermind sessions and videos.
How to flip houses: how it all began
Brock knew since high school that he wanted to go into real estate, and as he began his career he leaned on his parents for support. Starting out so young in the real estate industry, Brock struggled to get his footing. People saw him as “too young” and “inexperienced” to be taken seriously. He learned how to flip houses so that he had money to buy more properties. He hustled.
Then, he decided to use the connections he had made to start his own business. He chose to connect with people who possessed strengths that were different than his own. For example, Brock knew nothing about construction when he first started. So he went into business with an expert who had a construction background. Brock also worked with three other businessmen, all of whom pooled their money together to start buying properties.
Over the past ten years, Brock has continued to acquire and hold more properties. He sold about 50 of his rental units around the time of the Covid-19 pandemic. Of course, in hindsight, he could have waited longer to sell, but during that uncertain time he was still able to generate income to invest back into his business.
How to flip houses: systems, systems, systems
When it comes to learning how to flip houses, I can’t think of anyone who does flipping and holding better than Brock. In fact, I’ve been actively trying to recruit Brock to coach with us at ICC on the topic of house flipping, because he does it so well. He has incredible systems in place, and he knows how to flip houses at such a high level.
Brock has property acquisition managers on the ground who are constantly looking for good deals. He has other specialists on his team who then carry out various aspects of the flip process. Brock learned he couldn’t do it (at a high level) all by himself. Therefore, he built his team of experts accordingly.
Just as you leverage the talents of real estate team members, Brock leverages the talents of his team. There really is no difference. You build out your team in the same way. It has been so great to coach Brock and help him develop and implement his systems as he continues to grow his team.
Grow a flipping team for better work/life balance
“I did everything myself for a lot of years,” admits Brock. “So, I was running the property management, the foot crews, as well as selling houses. I wasn’t selling 100 a year, but I still had a decent number of transactions. And that’s really when I met Brian Icenhower.” We sat down and talked, and it was apparent that he was very stressed out. Overloaded. He had more business than he could handle. I helped him hire his first admin.
We helped him find solid operations staff to run the property management side of the business. Brock also has a sales agent, and recently brought on two acquisitions team members. His admin goes above and beyond to keep his construction manager in check, while also holding everyone accountable to the budget.
“We are in the infancy stage of trying to grow a more professional operation,” says Brock. And they’re off to a great start.
What makes a good team leader?
- Creating and implementing systems
- Holding team meetings on a regular basis
- Running dashboards to keep everyone accountable
- Getting out of your own way, letting go, and leveraging your people
Top producing leaders still struggle
As you have heard from several of the top performers on our panel at the ICC real estate conference in May of 2022, growth is constant. And there is no growth without struggle. Even these top performing leaders will admit that they still have things they are working on. The work is never done.
It is a process. It is not easy. But, the difference between a high performer and a low performer is that high performers will put in the necessary work. They never stop. They keep getting uncomfortable, and they learn to let go and fill the gaps with capable team members. These leaders are building new leaders.
So, how did these top producing team leaders get to where they are now? That is how. They got out of their own way and they adopted a growth mindset.
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