Jake Leicht Reviews (Updated 2024): Is The Flip Secrets Legit?
Introduction: The Flip Secrets Review
Hi, thanks for visiting SamRisk and one of my Jake Leicht Reviews!
If I had to guess, you’ve been doing some research and land on this page one of a few ways:
- You’ve been doing some contracting work for an investor and would like to make some big paydays like him.
- You don’t have a lot of money in reserves but would still like to know how to become a real estate investor.
- You tried flipping a rehab a few years ago but the contractor kept nickel and diming you which left you very little money in profit.
It really doesn’t matter HOW you got here, what matters is WHY you’re here. So I want you to know that we’re not only going to dig into Jake Leicht and his course, but we’re also going to go over some of the reasons why you want to get involved with real estate investing, specifically flipping.
This is what we’ll be covering over the 5-10 minutes and answering some of the most common, and maybe not so common questions.
My goal is that you’ll have a solid grasp on:
- What is The Flip Secrets and how much money can you make?
- Is Jake Leicht’s TFS system worth the money he’s charging?
- Is Jake Leicht legit or is his course a scam?
- What exactly does his course teach you?
- The icing on the cake… are there better ways than real estate to make money?
Now I’ve made a good deal of money with real estate investing (and I’ve lost money too). I’ve also researched and written many reviews on other real estate courses like this one, so everything we’re going to cover today is coming not just from a course, but from real-world experience.
Before you decide to spend the next few days or weeks looking at loads of different courses, or worse yet, jumping into a program with both feet, just take the next 10 minutes with this review. What do you have to lose?
Honestly, it’s much better than wasting your time and money when you could have done a bit more investigating.
So, before we get into it, here’s a quick summary and some pros and cons to get you on your way.
This The Flip Secrets review has been thoroughly researched with information and testimonials that are available to anyone in the public. Any conclusions drawn by myself are opinions.
- Instructor Experience: Jake Leicht says he’s flipped more than 900 properties over the years, which means you’ll be learning from someone with actual experience.
- Leveraged Financing: The Flip Secrets teaches you how to leverage other people’s money to finance your deals, so that you can focus on many deals at once.
- Detailed Training: Jake’s training cover many factors of flipping properties, which means that as a beginner you’ll have a solid roadmap to completing your first of many deals.
- High Price Tag: According to testimonials, the cost of the program is high ranging into five figures, which means it will be out of reach for many beginners on a budget.
- Very Detailed: There will be a lot to learn in the training especially when using OPM, which will be challenging for those new to the industry.
- No Refunds: Jake does not offer any refunds for his program, which will be a red flag to those who feel the program isn’t right for them.TLDR - What’s The Verdict On The Flip Secrets?
Why Listen To UsMy name is Josiah, and this is my Dad, Joel.
Together, we make up the team here at Scamrisk.
If you’ll let me bother you for two minutes, I’d like to quickly explain why I’m even here writing this review.
In early 2020, I had just graduated from college & had no real career prospects.
I knew I was destined for something more, but I had no clue how I was going to make it happen.
I had this sinking feeling in my gut all the time… like the “big man upstairs” had accidentally given me the version of life where I’d be mediocre forever, instead of the one where I was, ya know – happy & fulfilled.
I had fiddled around with some different online businesses in college:
Some random MLMs, a bit of affiliate marketing, a (failed) dropshipping store or two, all the usual suspects.
Even my dad had been involved in MLMs back in the day… selling knives & other random nonsense people (probably) didn’t need.
All I really wanted was to find something that was going to actually work for me.
Maybe those things had worked for others, but for me it all turned up a fat “0” in the bank account department.
So I searched! And searched… and searched… and searched…
And eventually, I somehow stumbled upon a program that promised to help me build an income online (read about it here if you’re curious).
I didn’t really want to be “rich”.
The thought of making a reliable $5K per month & not having to worry about clocking in to a 9-to-5 ever again was all I needed.
Sure, there were people in the program doing high-6 and low-7 figures per year… but that wasn’t what I was out for.
I just wanted to provide freedom for myself, and if I was lucky, take my family along for the ride.
Fast forward a few days and a few phone calls & I was enrolled!
Here’s the first “money making website” I put up:
I built that site in 2020, and it still makes me $1,500 per month. It’s a basic 5 page website I built based on a template the program provides.
The best part to me? My dad and I get to do it all together!
So between the:
Is why I recommend local lead generation as my #1 business model for making money online.
Sure, it takes some work and dedication – but anyone that tells you that there’s a business out there that requires no work is selling you a lemon.
I’m not saying you need to sign up for the same program I did, but I would definitely recommend giving the business model a peek!
TLDR - What’s The Verdict On The Flip Secrets?
Like most people (myself included), you’re probably the type of person that wants to get a verdict on an issue so that you can make your final decision. If that’s the case, I would say to keep your Credit Card locked away in a safe place for now.
Now, don’t get the wrong idea, because I’m sure that Jake Leicht is a stand up guy and that his course (as expensive as it is) is probably worth the money – but real estate investing, especially when using hard money lenders, can be nerve-wracking and cause a few sleepless night.
So long as you use the 70% rule, which basically states that if you take the after repair value (Fair Market Value) of a property, subtract the expenses that it would cost you to get it into good condition, the price you pay for the property should be no more than 70%.
This will leave you with a decent profit margin including any surprises that might come up.
Here are some numbers for you to go over…
Even though the real estate market has taken a hit over the last few years, flipping real estate (ie, rehabbing and renovations) is still a solid way to make money today.
According to ATTOM Data Solutions, a curator for real estate property data, shows that in 2020 real estate flipping was down 13.1% and accounted for only 5.9% of all homes sold compared to 2019, which was the lowest since 2016 and most likely because of the COVID pandemic.
However, the real estate market rebounded dramatically in 2022 with renovations making up 9.4% of U.S home sales with average profits at $70,000 in the first quarter.
Those numbers took a slight dip in 2023 to 7.5-8% of homes sales with $56,000 being the average profit per deal.
So, is flipping still a good idea for [year]?
With prices going up, it can be a struggle to not just find deals, but to get them sold once renovations are completed. The National Association of Realtors reported that over 82% or home prices have gone up in 2023 with the median price topping $406,000.
Also, competition with other flippers along with a 20% increase in construction materials is making it difficult to find good rates on hard money loans which typically make up about 65% of financing.
Now, if you’ve been in the game for a few years with many deals under your belt and cash reserves to finance your own deals, then flipping [year] could still be a viable option
As a beginner, however, it could prove a little bit of a challenge. With all the odds against you, you’d probably be better off rolling the dice in Las Vegas.
|Jake Leicht says that flipping homes can be done on a full-time or part-time basis in your local area or remotely. The Flip Secrets course is created mainly for people who want to get into real estate investing who don't have much time, but he says the more time you can devote to it, the more successful you'll be.
|Level of Control
|With The Flip Secrets, you gain significant control over your real estate investments. The Flip Secrets teaches you how to use Other People's Money (OPM) so you can have more buying power. However, you'll need to make smart choices about properties and manage your projects effectively.
|Ease of Implementation
|The goal of Flip Secrets is make the process of house flipping easy especially for beginners who have little experience working with contractors.
|You can make a great deal of money buying properties at a low price, doing renovations, and then selling at a higher price. Just keep in mind that your success depends on your ability to find properties in good areas with wide profit margins.
That’s why I’ve been doing Digital Leasing for the last few years now which allows me to avoid issues like:
- Shady contractors.
- Expensive materials.
- Using hard money loans with average interest rates of 11.25%.
The best part about Digital Leasing is that you can get started with very little overhead and with ROIs of up to 95%. If this sounds like something you’d at least want to learn more about, check out Digital Leasing now which is nothing like fixing up run-down houses.
If you’re still on the fence about The Flip Secrets, let’s take a minute to see who would benefit most from the program.
Who Should Consider The Flip Secrets And Who Should Look Somewhere Else?
If you’ve had the chance to visit my site before, you’ll know that I absolutely believe that Real Estate Investing, in all it forms, is typically a great way to make money, especially with ROIs averaging:
- 10.6% for residential homes
- 9.5% for commercial property
- 11.8% for REITs (Real Estate Investment Trusts)
Ultimately, it all comes back to whether or not real estate investing is for you or not.
If you can see yourself in any of the following, this course might just be what you’re looking for:
- You’re looking for a semi-passive income lifestyle where you’re able to keep your thumb on the pulse of your local communities for possible deals, or even work remotely in some cases. This Reddit user has been a part of Jake’s program for a while and has purchased 25 homes.
- You know that over 1 million U.S. homes are vacant and over 315,000 homes are in foreclosure, so there are plenty of opportunities.
- You have the capital on hand to absorb any extra or unforeseen cost that might come your way.
However, you might want to pass if you can relate to the following:
- You’ve purchased other programs in the past and felt like you were misled. This Reddit user says that the mentorship provided was all pre-recorded videos on YouTube with bad advice that cost him $45,000.
- You’re concerned about the No Refund policy. This Trustpilot user purchased the course and managed to land a few deals, but was unable to get the type of funding that was mentioned in the course.
- You’re primarily looking for houses that need very little if any fix-up is needed. This Reddit user found a property that had dog poop all over the house, broken beer bottles in the basement, and one bedroom covered in used toilet paper. Another property had a terrible issue with termites to the point that the floor had collapsed into the crawl space.
Now you might be asking what's involved with this type of real estate investing...
The Flip Secrets: A 1,000 Ft View
Let me give you kudos for continuing on with the Flip Secrets review – I was afraid that one story about the dog poop might have scared you away.
Next, what I’d like to do is give you a broad overview of the course, specifically the business model that it teaches.
Exactly what is house flipping?
House flipping is a type of real estate investing where the buyer will tie down a property under contract for a relatively low price, then flip it for a profit. This specific business model comes in two main categories:
- Wholesale Flipping (Wholesaling)
- Retail Flipping (Rehabbing)
Wholesaling typically involves finding a property that needs to be fixed up. You will then sign a contract to purchase with the owner of that property (usually an individual or bank-owned).
Once you have the property under contract, they then assign (flip) that contract to an investor / rehabber for about $5,000 to $10,000 more than the contract price.
It’s important that you keep in mind the 70% rule that I mentioned earlier because you want to leave enough room for the investor to make a suitable profit for himself.
This type of flipping usually involves a single investor or investment group who purchases homes that are in need of rehab. Typically, these investors have huge amounts of capital to pay for renovations and can usually get them done in a short period of time.
Once the property is rehabbed and brought up to code, they are usually listed with a realtor and sold quickly for at least a 30% profit.
In his course, Jake primarily teaches the retail flipping model, but he does touch on the wholesaling model for those who would like to build up their investment funds.
Now, let's meet Jake...
Jake Leicht Reviews: Who Is Jake Leicht?
Jake Leicht has been a real estate investor for the last 12 years and known by many in his field for creating a simple and easy-to-copy process for rehabbing properties without the need to use any of his own money.
When he first started out, he had very little money to work with, didn’t know anything about the construction business, but had to find a way to get his foot in the door.
|"In the game of house flipping, it's all about maximizing profit. The larger the profit margin, the more eager hard money lenders are to back your project."
|"Real Estate Entrepreneur helping investors transform their lives and bank accounts one flip at a time."
|"Real estate investor flipping houses with 100% OPM in TODAY’S MARKET"
Not knowing where to start, he put his head down and was determined to make things work. In the process, he has:
- Flipped over 900 homes in the majority of the country.
- Helped many investors think out of the box when it comes to investing and financing.
- Used modern technology to be more effective in real estate investing.
How Much Does The Flip Secrets Cost?
Jake’s training starts out at $15,000.
I know the sticker shock may be overwhelming – at one point, even Jake said that it’s crazy for a beginner to pay that much money for a real estate program.
However, he’s recently had a change of heart if you decide to join his elite mentorship program, which can cost you as much as $27,000 if you take advantage of his payment plan.
What Does Jake Promise?
Years ago, Jake used to charge $60,000 for private coaching and says that he always had people lining up. Now, he wants his flip secrets mentorship program more affordable by offering access to:
- His private lenders
- Private Facebook elite group
- His Secret “Flip Calculator”
- Lender scripts
- Marketing Materials
- And more…
He says it’s like having your very own coach at your beck and call.
While I might see the value in having this kind of access to a coach with his resume’, the main issue that you’ll still need to overcome is competition with his other student, market trends, and high interest rates.
Is The Flip Secrets Legit Or A Scam?
No, Jake Leicht’s course is not a scam. It might be a little on the pricey side, but that’s a different issue that I’ll touch on towards the end of the Flip Secrets review.
Although the process of rehabbing a property may seem simple in theory, the reality of rehabbing can be a little more complicated.
Here are a few issues that you may run into when rehabbing properties:
- Paying too much money: Most people tend to over-simplify the evaluating a property. They think that if tax records indicate a certain price, and other homes are around that price, then the Fair Market Value of that home should be similar – when the true value could be much less.
- Taking you time: In a competitive market, good deals can get snatched up fast. So you need to know how to quickly determine if a property is worth the investment.
- Hiring the wrong contractor: Unfortunately, this happens more often than not. Failing to check references and paying $20,000 to start a job could end up with no contractor to do the work and no way to get your money back.
Which is why I prefer Digital Leasing instead of working with physical real estate.
What if you could create a tiny five page website, then rent that website out to a local small business for $500 - $2,000 per month.
Now imagine creating 10, 20, even 50 more of these sites and renting them to other local businesses.
Can you see the profit potential here?
That’s the beauty of Digital Leasing.
Now, let’s look at how The Flip Secrets compares to other courses.
How Is The Flip Secrets Different From Other Similar Programs?
Now that we’ve covered the basics of The Flip Secrets, let’s take a look at how the course compares to other similar programs.
To recap, The Flip Secrets training covers finding properties that need fix-up, rehabbing them, and then selling them for retail profit. The course costs anywhere from $15,000 to $27,000 depending on the level of training you want.
In my Flipping Mastery reviews, Jerry Norton mainly focuses on wholesaling and gives an overview on retail flipping. His course costs $1,000 plus $97/month for software.
One Day Flip
In my One Day Flip reviews, Cameron Dunlap also teaches about making money with quick flips. His course is $997.
The Brian Page BnB Formula course covers most of what you need to know about running a rental arbitrage business mainly through the AirBnB platform. Brian's course costs $1,997 plus upsells that can add up to a final total of $5,749.
My Personal Opinion About The Flip Secrets
As we’re getting to the end of the Flip Secrets review, I’d like to bring things back into a more personal view about Jake Leicht and his course.
As I’ve stated, real estate has historically been a great way to make money and create independent wealth, just ask people like Grant Cardone and Donald Trump.
However, that doesn’t necessarily mean that I would suggest you purchase the Flip Secrets. There are still a few missing pieces that we need to fill in before I tell you what I think.
Also, given the positive and negative reviews that we’ve seen on platforms like Reddit and Trustpilot, I’d like to give you my five-point checklist to decide if a course is a good fit for me.
- Experience: Does Jake Leicht have real-world experience flipping homes?
- Mentorship: Does Jake offer private coaching or mentorship?
- Training: Does the value of the training exceed the course price tag?
- Honesty: Is Jake honest about any other costs for his course?
- Student Successes: Is there evidence that students have made money with his training?
Would I Recommend The Flip Secrets?
So, in light of my checklist, let’s see how The Flip Secrets measures up.
First, the positives:
With over 900 deals under his belt all across the country, it’s safe to say that Jake knows what he’s talking about and that his training is thorough.
I also like that he is upfront with the cost of programs.
Now, the negatives:
His course and mentorship program is a little on the pricey side at $15,000 to $27,000, but that isn’t so much of a deterrent since if you believe the value is there.
I would suggest, though, that Jake offers a 30 or 60 day action-based money back guarantee in good faith instead of his current No Refund policy.
Also, I would suggest offering a private Facebook community for the first course in addition to the Elite training he offers.
Now Let’s see what he offers inside the course.
What's Inside The Flip Secrets?
Module One - Working with OPM:
Jake breaks down the benefits and risks of working with hard money lenders. Module Two - Lead Generation:
In this module, Jake shows you how to generate better leads and get better deals than your competition Module Three - Working with Contractors:
Jake shows you how to find good contractors and build solid relationships with them to ensure future business. Module Four - Your Exit Strategy:
Jake shows you how to sell your properties with the least resistance possible.
My Conclusion: Should You Join The Flip Secrets?
The rehab flipping business model is a sound way to make money, and if you do it correctly, you can make a lot of it in a short period of time.
However, nothing ever goes as planned, and Murphy’s Law always has a tendency to rear its ugly head at the worst time possibly costing you even more than the $15,000 to $27,000 for his training.
So, is it worth it?
In my opinion, I would have to pass, and here’s why…
My #1 Pick For Making Money Online In 2024
Clearly Real Estate is a good investment, but you can lose your shirt, especially in recent years.
Just like the old joke goes, “How do you make $1 million in real estate? Start with $2 million.”
There simply is no “perfect” business.
However, Digital Leasing is as close to perfection as you can get.
- It’s Flexible: If you can spare a few hours in your day, this is the perfect business for you.
- You Own It: Sure you own your real estate investment, but with private money lenders, less than scrupulous contractors, and additional debt – the property isn’t truly yours until you sell it.
- Low Costs: You can build your first Digital Leasing property for as little as $100 and be profiting from it within 30 days.
- Overhead: The ongoing expenses with rehabbing and flipping can eat into your profit margins the longer a property sits on the market. Digital Leasing gives you profit margins of up to 95%.
- Helping People: With Digital Leasing, you’re helping small businesses that are losing customers, or worse on the verge of closing up shop altogether.
Now, you can keep looking for ways to make money like Jake Leicht promises, you might even be tempted to jump on board.
Or, you could take a serious look at Digital Leasing, and take advantage of the type of passive income that I and others are enjoying.
#1 Business Recommendation
We each make around $10,000 per month with the help of this system.yes, show me more