Over the past year, Blackcard University and Leadway Holdings CEO Damon Woodward has completed 12 real estate acquisitions using three different strategies. While a diversified approach has been working well for Woodward, this is not something he recommends to those who are just starting out as real estate investors.
Woodward has a simple yet highly controversial philosophy he always teaches his students at Blackcard, and that is to start their careers in real estate by flipping properties. While he recognizes the opportunities that exist in wholesaling and buying properties to hold, Woodward believes flipping teaches all the skills a real estate investor must learn.
“This is something that is argued by some, but I do believe it’s important for anyone interested in real estate to experience flipping houses first,” explains Damon. “There are a lot of moving parts involved when you are flipping properties, so it is an important place to start.”
A Specialized Approach to Flipping Houses
Among the skills to be learned in flipping properties, according to Woodward, are marketing for leads, negotiating, raising capital, and managing contractors. Damon’s insistence on flipping as the best starting point for real estate investors draws from his own experiences.
Three years ago, Woodward wanted to venture into real estate, so he started a rent-to-own business. He thought it was the best place to start after seeing other moguls making good money providing very good services and helping people get into homeownership.
Turning Point
A few months after starting his first venture, Woodward flew to Winnipeg to attend a seminar hosted by real estate investor Stefan Aarnio, and the things he learned from there made him rethink his business model. He decided to hire Aarnio’s company to teach him how to flip houses instead.
To this day, Damon credits a lot of his success to the specialized skills he learned flipping houses. He has since then acquired 78 units in 2020, employing several
business strategies like buying to hold and wholesaling. Still, Woodward swears by the power of flipping houses. In fact, his 2020 acquisitions include 11 houses he bought to flip in the coming years.
Aside from the high profits generated from flipping properties, Damon appreciates the altruistic feeling of mutually helping clients along the way. He feels this way in terms of his real estate business, as well as his coaching engagement with Blackcard: “Some of the people who go through our programs will pass their wealth and knowledge down to their kids, and their kids after them, so we are making a huge impact.”
To learn more about what other high-impact initiatives Damon Woodward has in the pipeline, connect with him on Instagram at @damonwoodward3.
Leadway Holdings Ltd
Founded by Damon Woodward
@damonwoodward3
damonwoodward.com