How Perdure “Coach The Closer” Carter Scaled His Real Estate Flipping Business In Chicago
Please introduce yourself.
My name is Perdure “Coach The Closer” Carter. I am the owner and Managing Broker of Dream Spots Leasing, a full-service real estate brokerage. In addition, I run Flipping with a Purpose, which is a real estate course that offers guided mentorship. We help new and experienced investors master the craft of flipping properties for a profit of 50k or more. Our companies are based out of Chicago but we work with investors in 40 states and three countries.
How did you get started in the real estate business?
I started learning about the real estate business at 22 years old. I was working in the education industry, but I felt that there were limitations to increasing my salary. After asking around for advice, I acquired my first piece of real estate. I received an offer on my property not long after and that is when I decided to become a landlord. I profited 80k from the deal. This sale opened a brand-new avenue in my real estate journey. Before the 2008 Market Crash, I managed to flip 5 or 6 more properties. However, I pivoted and opened a leasing company, and continued on this path even when the market rebounded.
What are some hot markets for real estate that you are excited about?
I have been observing the South Shore neighborhood in Chicago for over a decade and believe that it has potential. Although it is no longer the well-kept secret it was 6 years ago, opportunities to increase its value abound due to ongoing city investments from private investors.
How do you source your real estate deals?
Of course, Multiple Listing Services (MLS) are a major source. Lately, I have been focusing on off-market properties–whether I identify them personally using software like REIPro or through relationships with wholesalers off market–as they seem to be the best-buying strategy at the moment.
What are some checks and balances you’ve put in place to protect your real estate transactions?
Before signing a contract, I perform a preliminary search for violations and court cases. After ensuring everything checks out, I secure the contract. I always take advantage of the inspection period by hiring attorney review services. I allow professionals to assess the title and current property conditions to ensure I am not getting more than what I bargained for.
What is one piece of advice you would give someone starting their real estate career?
Find a Mentor because there are many ways to make money in the real estate sector. , Do note that there are just as many ways to lose your investment. We live in an age where you do not have to go it alone, so leverage the experience of industry veterans and avoid making beginner mistakes.
What is one software you use for your business and recommend to others?
I frequently use REIPro to source off-market deals. It has been a game changer for me.
What is your superpower in life?
Problem-solving is my strength. I have faced obstacles that have completely defeated my peers. I develop solutions to these problems and creatively work through them to progress.
What is a failure you’ve had in life that set you up for eventual success?
In the early stages of owning my brokerage, I faced many setbacks primarily due to a lack of systems and organization. I learned the hard way that you have to take the time to organize. If these tasks are not within your skill set, delegate without delay.
What is one book that has influenced your life the most? Why?
Think And Grow Rich is a book I constantly recommend to people. It turned the page for me in business and opened my mind to the power of positive thoughts and the impact of negative ones. The book inspired me to strategize and take control of each day’s outcome
[…] mostly interested with the figures. The numbers are never deceitful. My mentors, Jemal and Perdure, consistently told me to trust the figures and the rest will take care of itself. Major cities, […]