The Code To Winning: The Business of Flipping – How to Scale in Real Estate

Guest: Arthur Koshkaryan
Host: Kagiso Dikane
Episode: 058
Date: October 2, 2025

Episode Overview

In this engaging episode, host Kagiso Dikane welcomes back Arthur Koshkaryan, an experienced real estate investor known for his success in house flipping and wholesaling. The conversation deep-dives into the realities of flipping homes, the critical role of teams, how to start with little to no capital, managing risk, making use of technology, and the importance of honest mentorship in a market saturated with self-proclaimed experts. The episode is action-packed with practical advice, industry insights, and personal lessons, aiming to empower newcomers and seasoned entrepreneurs alike in the ever-evolving real estate business.

Key Discussion Points & Insights

1. Arthur’s Entry into Flipping & Early Lessons

• Team-Based Beginnings: Arthur shares how he started on a real estate team, learning "how a machine works" before striking out on his own. He emphasizes the importance of mentorship and joining an active team for beginners.

  "The best thing you could do is hop on a team that is actually running." (03:21)

• First Flip Experience: His first flip was a modest one in Chandler, AZ, with the help of his uncle/mentor, Alex Delgadillo. Arthur describes the process as an emotional rollercoaster, highlighting the financial risk and decision anxiety.

  "When you buy a flip, you don't know... what's going to pop up, because things always pop up." (03:57)

2. Building & Re-Building Teams

• Team Dynamics: Arthur discusses growing his team to ten, losing members to independent ventures, and the lessons from rebuilding—emphasizing the value of company culture and clear onboarding processes.

  "When you first start with a team, you understand now how it works... when rebuilding, you can set a proper foundation." (06:31)

3. Financials – Flipping & Wholesaling Basics

• Standard Flipping Timelines and Profits:

  • Average turnaround per flip: ~4 months (07:15)
  • Average profit per flip: $35,000–$40,000 (07:29)

• Pivoting to Higher-Value Properties:

  "We're attacking higher price points... under a million, but listing them at that 800-700-900K range." (07:43)

  • Higher-end buyers are less affected by rate changes, making these flips less risky in uncertain markets.

• Toughest Flip:
  Arthur recounts a condo deal in Phoenix plagued by HOA financial issues and contract fallouts, dragging a 3-month project into a yearlong ordeal.

  "We fell out of contract like six times... ended up going up to like a year." (09:39)

4. Industry Misconceptions & The Guru Problem

• Social Media Hype vs. Reality:

  "A lot of gurus... make it seem easier than it really is... but they don't tell you all the ugliness that happens in between." (10:01)

5. Estimating Rehab Costs & Managing Multiple Projects

• Experience Over Time:
  Estimating improves with each flip; always get at least three bids for any rehab work.

  "Every flip that you do, you just get better and you start to understand..." (10:43,\ 22:54)

6. Wholesaling Explained

• What is Wholesaling?
  Arthur breaks down stepping stones into wholesale real estate: securing a property contract below market value, then selling the contract to end buyers for profit—often with no capital investment and no license required.

  "You don't need any money to get into it... wholesaling is 100% the best way to get in." (13:42)

• Practical Steps for Starters:

  • Head to your local courthouse.
  • Pull a pre-foreclosure list.
  • Start cold-calling homeowners and making offers. (14:36)
  • Key to success is "reps"—making hundreds of calls to secure a deal.

• Turnaround Time:
  Wholesaling averages less than 30 days; sometimes as quick as three weeks (13:24–16:03).

7. Dealing with Contractors & Staying on Budget

• Communication is Key:
  Understand contractor schedules, set clear deadlines, and know where you stand because delays cost money daily.

  "Hard money payments coming up every day, we're spending money." (19:12)

8. Funding Flips: Investors & Partnerships

• Investor Relations:
  Track record, transparency, and 50/50 profit splits are key to attract capital partners.

  "If they're coming in with all the money, we're coming in with the experience... perfect relationship." (21:02)

9. Exit Strategies & Risk Management

• Flexibility is Essential:
  Don't buy any property unless you have multiple exit strategies: sell, rent, Airbnb, PadSplit, etc.

  "Never buy a house that you have to sell... Have multiple exit strategies if it goes to shit." (30:39)

• Adjusting to Market Realities:
  Factor in seller concessions and market shifts. Always be data-driven in calculations to avoid losses.

  "When you run your numbers, you got to give them at least... 2% in concessions. You got closing costs. Right now... there's a lot of inventory." (23:47)

10. The Power of Technology and AI in Real Estate

• Investor Lift Platform:
  Software that aggregates buyers nationwide, streamlining the disposition (dispo) side of wholesaling deals.

  "All my deals, I run them through there. All the buyers... are from there." (27:01)

• AI Automation:
  Uses AI features to match deals with most likely buyers, drastically improving efficiency and chances of quick sales.

  "If you're not using AI, you're like dying a slow death... letting you know these are buyers that AI pulled." (28:58)

11. Entrepreneurship – Challenges and Personal Growth

• Biggest Challenge:
  "Managing money a little bit better... when you start making money... you have to hold yourself accountable for taxes, business expenses." (34:18)
• On Company Culture:
  Building a resilient, mission-driven team where every role is valued is crucial. Arthur uses the NASA janitor story as a metaphor for the power of clear vision and buy-in at all levels. (37:09)
• On Setbacks:
  Entrepreneurial setbacks are inevitable; learning from them, especially in team building and company culture, is central to long-term success.
• Advice for Focus:
  Prioritize one strategy—wholesaling or flipping—based on your financial situation, rather than spreading attention too thin.

  "People just have to believe in something rather than trying so many different multiple things." (33:22)

12. Defining ‘Winning’

• Arthur’s View:

  "For me, [winning] is peace of mind... knowing that whatever you got going on, no matter the storm... you have a set goal."
  Staying grounded in faith is his ultimate foundation and guide in business decisions. (44:52)

Notable Quotes & Memorable Moments

• On Overcoming Fear as a Beginner:

  "It was nerve wracking, you know, but let's just keep doing it." (05:18)

• On the Glamour of Social Media Gurus:

  "They make it seem easier than it really is... they don't really show everything that takes to do a flip." (10:01)

• On AI & Change:

  "If you're not using AI, you're like dying a slow death." (28:58)

• On Exit Planning:

  "Never buy a house that you have to sell." (30:39)

• On Company Culture:

  "Understanding what your role is... even though he's just the janitor... if he doesn't do his job, then the place... is not going to be in its best form." (38:47)

Timestamps for Key Segments

• Team foundations in real estate – 00:00–03:21
• First flip in Chandler, AZ – 03:21–05:36
• Rebuilding the team, company culture – 06:28–07:05
• Average turnaround and profits in flipping – 07:15–07:29
• Challenging flips and worst-case scenarios – 08:24–09:39
• Industry misconceptions and ‘gurus’ – 10:01–10:36
• Wholesaling explained with examples – 12:39–14:13
• Starting in wholesaling with no money – 14:36–15:56
• Contractor management and project delays – 18:12–19:12
• Investor partnerships & profit splits – 19:55–21:01
• Critical flip calculations (rehab, bidding) – 22:54–23:47
• Using technology/AI & Investor Lift – 27:01–28:58
• Exit strategies—hold, flip, Airbnb, PadSplit – 30:07–32:37
• Entrepreneurial lessons: money management & team building – 34:18–39:22
• Company culture & buying into the vision – 37:09–41:31
• Hard/private money lenders and building trust – 43:19–44:24
• What ‘winning’ means to Arthur – 44:52–45:46
• Contact info & networking invitation – 46:23–46:40

Final Takeaways

Arthur distills hard-won truths about real estate success:

• Start with wholesaling to minimize risk and learn the ropes—no capital or license needed.
• Teams, mentorship, and a learning mindset are more valuable than going solo.
• Real estate flipping is NOT easy money—always expect the unexpected in budgeting, timelines, and market conditions.
• Leverage technology and AI to get ahead, especially in finding buyers and scaling deal flow.
• Build multiple exit strategies into every deal to minimize catastrophic failure.
• Company culture and clear vision are the backbone of sustainable business growth.
• True winning is found in peace of mind and faith-driven perseverance, not just profit.

Connect with Arthur:
Instagram: @arthur_the_dispo

"Just keep doing it. Learn, build reps, and adapt—because you never know what’s behind that next wall."