Undrea King and Andy Speed are the owners of Drayco Properties, a wholesale investment company based in Houston, Texas. Undrea has over two decades experience as a business operator and several years as a real estate investor. Andy has been in the real estate game since February 2015 and has a decade’s worth of experience in supply chain management. Their business is all about finding distressed investment properties for owner finance, fix-and-flip, and buy-and-hold investors.
Undrea and Andy join me today to share how hot the Houston market is right now and how their company manages to float and maintain a steady course for success and growth. They share their professional background and the reason why they decided to work together. They explain how their business runs, their hiring system, and why they invest so much money in cold-calling. They also describe some of their short-term goals and how they plan to achieve them.
“As a flipper, your job is to move money and keep it working.” – Andy Speed
On Today’s Episode of Flip Talk:
- How competitive is the Houston market?
- What their first few years in the real estate industry were like before and after they worked together.
- Their current business structure and why they used to tackle two markets at once.
- The mistakes they made before they realized what they were doing wrong.
- Why they decided to focus on wholesaling.
- The short-term business plans that can effectively scale their business.
- Some of the challenges they encountered in growing their business.
- Their tips in hiring key team members.
- Cold calling and why they’re investing in that type of marketing.
Todd and Undrea’s Tips for Getting into Real Estate Investing:
- Going out and talking to the seller is the most critical aspect of marketing.
- It’s important to have someone to teach and someone to chase in this industry.
- Wholesaling is not a stepping stone to becoming a flipper.
- Business culture determines the type of people who will stay with you for a long time. At the same time, you have to make sure your employees adhere to the culture.
Connect with Andy Speed:
- Drayco Properties
- Email: firstname.lastname@example.org
Connect with Undrea King:
- Wholesale Nation Facebook
- Email: email@example.com
Rate, Review, Learn and Share
Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into our other shows: FlipTalk’s Rookie Play Book and FlipTalk’s REI Round Table. Share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry.