Flipping and Wholesaling Remotely

In this episode, I am joined by Kyle and Kirk Burnett who are twin brothers that invest in real estate together. Kyle lives in Cincinnati with his wife and two girls and has been investing in real estate for three and a half years. Kirk moved to the Dominican Republic five years ago to work as a missionary, where he met and married his wife. Now he works remotely full-time with the Burnett Group while still volunteering at the non-profit organization.

We talked about what they were both doing before getting into real estate investing and what roles each of them play now in their company. While their primary investing market is Cincinnati, they are currently working on expanding into another market. Kyle and Kirk discussed their respective roles, hiring help, and the details of remotely handling deals.

As Kyle and Kirk expand into this new market, they are going to test out the remote business model by utilizing less costly marketing strategies, such as texting and cold-calling, rather than direct mail.

I asked them to describe their business operations and any of the tools they are using to be more successful. Kyle and Kirk talked about a couple of the apps they use (see links for more information) and spoke about the importance of communication between team members. We also discussed the advantages and disadvantages of closing deals over the phone.

We talked about what we might do differently if we were starting over with a clean slate today. Kyle and I both said we would definitely start with flipping houses, but Kirk said he would begin by wholesaling so he could stay in the Dominican Republic and continue to work in ministry. Both said how valuable being part of a mastermind group is and how much they value the relationships and shared information.

I hope you will join me for this super down-to-earth and informative interview with the Brothers Burnett!

Notable Quotes:

“We are going to go for some of the low-hanging fruit to prove the model.”

Kirk Burnett

“We are full-steam ahead in the new market (regardless of the pandemic).”

Kirk Burnett

“Something like the pandemic happening tests your business - are there holes in your game?”

Mike Simmons

“Too many people are playing defense and are fear-based in what they are doing.”

Mike Simmons

“Don’t make this an excuse not to be successful.”

Mike Simmons

“Here ya go - boom. Quarantine, COVID, now what? You can curl up in a ball and die, or you can figure out your path forward.”

Mike Simmons

“You have to get over your unreasonable or unfounded fears.”

Mike Simmons

“Imagine the talent you can pull from if you open up your hiring to anywhere.”

Mike Simmons

“I do enjoy the flipping aspect of things and I don’t think that is something that will ever go away.”

Kyle Burnett

“I love where I am at, and more importantly, I love the organization and ministry that I serve with and the kids I serve for. That is my number one priority and I wouldn’t do anything to sacrifice that.”