Real Estate,  Success Stories

Success Stories – Interview with Real Estate Investor Brian Wilfong

For the last 10 years, Brian along with his wife Sara and their “Real House Flipping” business have successfully flipped over a hundred homes in Waynesboro, Fishersville, Staunton, Charlottesville, Harrisonburg, and Rockingham/Augusta Counties. They have “flipped” both of the homes that they have lived in, and are currently “flipping” a beach house in Hilton Head, SC!

1) What are some of the biggest lessons you’ve learned in regards to managing money?
The biggest lessons I’ve learned about managing money pertain to debt.
Debt is very powerful, it can make you very wealthy or very poor depending on how you use it. There is good debt and bad debt and understanding the difference is imperative to successful financing.

2.) How do you and your family manage your personal finances? Budget?
We manage our personal finances by making sure that we pay ourselves first. After our monthly expenses are paid, our tithes, retirement accounts and college accounts are funded, then we determine how to spend what’s left.

3.) You’ve managed to develop a very successful real estate investment company. What do you attribute to your success?
I attribute my real estate success to my faith, passion, persistence and constantly learning everything I can about the profession. From there it’s the willingness to use the knowledge and take the risks.

4.) If you could teach others one thing that you’ve learned in regards to taking risk, what would you say to them?
What I would I tell others about taking risk is that it is absolutely necessary. However, it’s a lot less scary if you have a solid exit strategy. In real estate, I always know what my Plan B is should plan A not work out. Also, the more you know about the opportunity the less risk you experience. This is where mentors are invaluable.

5.) Who would you consider a mentor, someone you look up to for inspiration or advice?
I think it’s important to have as many mentors as you can in business. Success breeds success and you are who you interact with so why not learn from the ultra successful? My primary mentor in business is Clay Wisely. He is a very successful CPA and real estate investor who I’ve always looked to for answers throughout my career in real estate.

6) What are your aspirations into the future? What would you like to achieve?
In the future I would like to achieve the ultimate accomplishment of time and helping my 4 boys achieve their goals. Time is irreplaceable and always ticking away. Ultimate financial freedom to me is being able to spend every minute of every day how you wish with no financial burdens or stings attaching you to anything. Real estate is my passion, I will invest in real estate for the rest of my life but I look forward to doing it as a hobby instead of a necessity.

About Their Business:

Brian graduated from James Madison University with a Business degree in finance. He started his passion for Real estate at an early age, he started building new construction homes while in college. He then started building homes on Massanutten resort for vacation rentals. In 2008, Brian and Sara met a wholesaler who was looking for an investor to work with collectively to renovate and sell an older home in downtown Waynesboro. After working on that project with another investor, Brian and Sara fell in love with the process, and started purchasing homes on their own in the Waynesboro area.

Brian delegates all the construction work to his trusted long-time contractors. While they do all the manual work, Brian has plenty to keep him busy! Brian lines up the properties and schedules the renovation process and budget, and Sara and he work diligently to make their visions come to life with every project. Sara is a real estate agent so she assists from day one to get the home ready to sell and ensure the next buyer has a beautiful new home that they will enjoy for a lifetime! *Owner is a licensed real estate agent in Virginia*

For more information and to see their beautiful vacation homes available for rent, check out https://sandnsnowvacations.weebly.com/

3 Comments

    • jwelbourne

      Here is what he said “My biggest financial lessons learned pertain to real estate transactions. Biggest mistake was getting emotionally attached to a property and losing sight of the investment. Flipping houses is all about numbers, if they don’t work, move to the next one regardless of how much you like it. You will be the most successful negotiating any deal when there’s no emotional attachment, and you’re willing to walk away.”

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