BTM 75: The Closest Thing to Guaranteed Money: Pros & Cons with Ryan G. Wright
Almost 10 years ago, Ryan G. Wright started investing in fix and flip properties. He soon saw that it was difficult to get funding quickly on these properties, much less from reputable and reliable sources. The solution was Do Hard Money, a private hard money company that offers short-term funding for real estate investors. Coming from a background of real estate investing, he understood the needs investors have. He wanted to provide a way for others to grow their real estate investing business by offering short term loans with no money down and no monthly payments. Ryan has been a featured speaker for Bank of America, CitiMortgage, Wells Fargo, Bank of America, Inside Mortgage Finance and the ReCaptivate Conference for real estate professionals.
On today’s episode, we talk to Ryan about the secrets to success (show up, show up on time and show up prepared) in getting started in investing in real estate. Ryan talks with us about the concept of using private lending and hard money rental loans to finance your real estate investment deals. You’ll also learn the pros and cons of investing in single family housing vs. duplex/triplex and multifamily deals. Lastly, Ryan shares with us how lenders can sometimes construct demand based upon how much capital they have available.
Key Points From This Episode:
- How investing in single family can be a better option than multi-units (tenants, turnover, cash flow, etc.)
- Why your goals shouldn’t never be tied to your self-worth
- The 2 ways you can use hard money lender to buy rentals (Low cash to close or hard money rental loan)
- What is a hard money rental loan (what is the process, requirements, terms, conditions, etc.)
Links Mentioned in Today’s Episode
Ryan’s Website: https://www.dohardmoney.com/
Ryan’s Favorite Books: Atlas Shrugged by Ayn Rand https://amzn.to/2OtPqmb
Ryan’s Favorite Lifestyle Design App: Audible is the largest selection of audiobooks and original audio performances anywhere! https://www.audible.com/
Freebie: Download any 2 audio books for free when you try audible for 30 days: https://beforethemillions.com/book
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BTM 74: Whether You Think You Can Or Can’t, You’re Right with Zachary Beach
Zachary Beach has been around the real estate business for over 7 years. He has been a part of or has been mentored in a number of facets in the real estate world. At age 25, he decided to jump into the family real estate business. Zachary has completed an owner financing deal on a property that is worth over a million dollars and purchased it for $940,000 with principal only payments of $2500 per month. Zachary went from bartender to million dollar business owner in just under 3 years.
On today’s episode, we talk to Zachary about how to get started in lease options and owner financing deals. You’ll learn how to accelerate your real estate investing by doing this 1 thing (it has nothing to do with real estate). We also talk about misconceptions about owner financing deals and how you can create systems to help scale your business to automate it and create a lifestyle of your dreams.
Key Points From This Episode:
- Failing your way forward and taking action is the best way to get started in real estate
- Breakdown of Zachary’s first real estate transaction & how he was able to make a profit $60K
- The #1 action step you can do today if you want more money to scale your real estate investing
- What you need to look for when doing deals with real estate owners and buyers
Links Mentioned in Today’s Episode
Zachary’s Website: http://www.smartrealestatecoach.com/
Zachary’s Favorite Books:
10X Rule by Grant Cardone https://amzn.to/2xAuGzk
Never Split The Difference by Chris Voss https://amzn.to/2DrteF1
Getting To Us: How Great Coaches Make Great Teams https://amzn.to/2DrCgBP
No B.S. Time Management for Entrepreneurs https://amzn.to/2xOm4EQ
Download any 2 audio books for free when you try audible for 30 days: https://beforethemillions.com/book
Zachary’s Favorite Lifestyle Design App: Investor Fuse: Automatically nurture your leads. Follow up faster and more often. Less clicking, less thinking, more time to flip houses. https://www.investorfuse.com/
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BTM 73: Money Isn’t Everything with Omar Khan
Omar Khan is a manager at the Dallas, Texas private equity firm Boardwalk Wealth. Omar is a CFA charterholder with 10 years of experience investing across real estate and commodities. He has completed $3.7 billion in capital financing and M&A transactions. Omar has also syndicated large multi-million dollar deals across the US and Advised high net-worth individuals and entrepreneurs on real estate portfolio allocations.
On today’s episode, we talk about escaping the rat race, finding the right multifamily deals, underwriting them and sourcing capital – international and domestic. Omar shares his story of graduating during the 2008 market crash and how he 10x his efforts to start his career in finance and real estate. You’ll learn how you can leverage your W-2 income to invest in real estate and why underwriting is the most important piece of the investment process.
Key Points From This Episode:
- Why investing time in growing your network will 10x your income
- Top questions to ask yourself before investing in real estate
- Importance of visualizing your success and knowing what your strengths are
- What makes a good underwriter and how to analyze multifamily deals
Links Mentioned in Today’s Episode
Omar’s Website: https://www.boardwalkwealth.com/
Omar’s Favorite Books:
Thinking, Fast and Slow by Daniel Kahneman
Great Expectations by Charles Dickens
Download any 2 audio books for free when you try audible for 30 days: https://beforethemillions.com/book
Access The Best Strategies, Tips & Advice !
Every week, we send an email sharing my best advice, tips and strategies related to Real Estate Investing. Each of these weekly emails contain relevant and actionable information that can help you no matter where you are in your investing journey.
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BTM 71: The Ultimate Buying & Selling Machine: Virtual Day Trading Real Estate with Larry Goins
Larry Goins has been investing in real estate for over 30 years. Previously, Larry served as president of the Metrolina Real Estate Investors Association in Charlotte NC, a not-for-profit organization that has over 350 members and is the local chapter of the National Real Estate Investors Association. Larry is an active real estate investor and travels throughout the United States speaking and training audiences at conventions, expos, and Real Estate Investment Associations on his strategies for buying and selling houses. Larry also has a podcast on real estate investing Brain Pick a Pro, where he interviews experts from real estate and give his own expert advice. Between speaking engagements and mentoring other investors, Larry oversees the daily operations of his investing business that wholesales properties, seller finances properties and holds properties for investment.
We talk to Larry about how he got started in real estate investing and the breakdown of his first deal using a FHA loan. Larry talks about the two types of ways you can get into real estate (business vs. investing) and some of the methods he has avoided investing in (e.g. short sale, rehabs and more). You’ll learn how wholesaling and day trading maybe one of the best ways to get started your investment journey. We discuss the importance of learning how to focus one thing you can do to increase your income, enjoy life, reduce your expenses, and spend your time the way you want to. Larry shares with us what a personal vision is and how you can use it today to create the life you want for yourself and your family.
Key Points From This Episode:
- First steps to take before beginning your investing journey (creating a lot of cash to replace your W2 income, pay off any debts and start reserving income to start investing long term)
- Why investing in a mentoring was the best worthwhile investment Larry has ever made
- Understanding how income as a measurement of value that you are putting out into the world
- You should always have your finger on the pulse of your business even after hiring employees
- The 2 ways you can go in business (keep it small and own it 100% or grow & scale)
- How partnerships helped grow Larry’s network and expanded his business opportunities
- What real estate day trading is (how to get started, story of Larry’s first deal, how the process is today etc.)
- Best practices on finding deals using direct mail, telemarketing, Facebook ads, and bandit signs
- Why having a budget on marketing is key to success with wholesaling and day trading real estate
- Structuring a Deal: The 2 major things you need (a good cash price or good terms)
Links Mentioned in Today’s Episode
Larry’s Website: https://LarryGoins.com
Larry’s Favorite Book: Lessons By The Richest Man Who Ever Lived http://a.co/d/dgs71yb
Recommended Books:
The Power of the Self Conscious Mind http://a.co/d/7cFhVuH
The One Thing https://www.the1thing.com/
The Pumpkin Plan http://a.co/d/fspjIeN
Download any 2 audio books for free when you try audible for 30 days.: https://beforethemillions.com/book
Larry’s Favorite Lifestyle Design App: Deal Machine-Build freedom through real estate. Find profitable off-market real estate deals by simply taking a photo with our mobile app. https://dealmachineapp.com/
Recommended Websites/Apps:
Land Glide-Hover over a property to instantly discover details, including owner, address, and APN. http://reportallusa.com/solutions/landglide/
Zillow- The leading real estate marketplace. https://www.zillow.com/
Docusign- makes it easy for you to send out documents for signature. https://www.docusign.com/
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BTM 70: Buy, Fix and Flip Your Way To Financial Freedom with Javier Hinojo
Javier Hinojo is the owner of IQ REI, a family-controlled real estate company that buys, manages, repairs, and sells homes in the Raleigh, Durham, and Chapel Hill, NC area. He has extensive experience working with foreclosed properties, land development, lease options, and land contracts. Javier offers the kind of business that prides itself on having a quick response rate, professional experience, and simplified solutions that make clients’ lives easier. Javier has been married for 19 years and have 5 children with 3 still living at home. He has always been an entrepreneur (owning a few businesses, been bankrupt twice, day trader Forex, and more). Javier started investing two years ago and completed over 28 fix and flips and is on track do to over 50 by next summer. He is looking forward to investing into rentals, multi-family, and development deals in the near future.
Today, Javier talks to us about his journey from joining the military to becoming an real estate entrepreneur. Growing up, Javier always had an entrepreneurial spirit as a child seeing his parents run a locksmith business. He shares his story of attending a weekend seminar with a friend which opened his eyes to the possibilities in real estate. He realized that the buy, fix and flip business model was the best way to get started (the market was great, quick cash, also knew that fix and flip is still a job and doesn’t provide not residual income). He believes that the longer you go without doing your first deal, the closer you get to never doing one. You’ll hear about the lessons learned and experience using a hard money lender to finance Javier’s first deal. He also shares why investing in a coach is never a waste of money when getting started. Lastly, we wrap up the episode with a funny story about the “Wear Pants No Hands” video when Javier was looking to expand his team and why it’s importance to work with people who can think outside the box.
Key Points From This Episode:
- How Javier incorporated his family into his fix and flip real estate business
- The story of how Javier got interested in real estate by attending a weekend seminar
- The concept of fixing and flipping and how the process works in real estate
- Breakdown of what a wholesaler is, the benefits and how you can get started doing this today
- The story of how Javier got into his first deal with little to no money and made $17K profit
- Why you must have the right mindset when deciding to become a real estate investor
- Hard Money Lender Financing: how to analyze and the process of getting a lender for your deals
- What deed-to-deed is when doing fix and flip deals in real estate
- Story of how Javier learned about the importance of cash flow and the story of his lowest point of his life (house payment was due, no money in the bank, and asking his kids for their Christmas money to help pay the bills) and what he did next to change his life for the better
- Why investing in mentorship and coaching is never a waste of money
- How taxes work in fix and flip deals and why you have to be creative with your money as an entrepreneur
- Javier shares his story of showing the “Wear Pants No Hands” video to find the right team members
Links Mentioned in Today’s Episode
Javier’s Website: http://www.iqrei.com/
Download any 2 audio books for free when you try audible for 30 days.: https://beforethemillions.com/book
Javier’s Favorite Lifestyle Design App: Trello: Keeps track of everything, from the big picture to the minute details. https://trello.com/
Access The Best Strategies, Tips & Advice !
Every week, we send an email sharing my best advice, tips and strategies related to Real Estate Investing. Each of these weekly emails contain relevant and actionable information that can help you no matter where you are in your investing journey.