As To Methods, There May Be A Million and Then Some, But Principles Are Few. The Man Who Selects Principles Can Successfully Chose His Own Methods. The Man Who Selects Methods Is Sure To Have Trouble.
Ralph Waldo Emerson.
The Word Leverage Simply Means To Do More With Less
In this episode we discuss How To Build Wealth From Your Next Wholesale Deal
It does not matter what level you are playing in real estate. From new investor to seasoned pro, learning the strategies of owner finance real estate is a game changer for both business and life. If you think back to WHY you became involved in real estate all together, it was likely to build a better life. One way to begin doing that now is through leverage.
In this podcast I break down and direct how to transition from wholesaler to wealth builder, how to position yourself as a buyer/marketer, where to find sellers who are most likely to sell you their properties on owner finance terms, what these sellers want in order to do business and several other strategies that compliment the perfect wealth building toolbox.
Although we have several real life scenarios to show you, this one below can be done by anyone. Starting with a $2000 down payment, we “traded” our way up from a $17,500 2 bedroom house to a 6 unit commercial property without pulling one more dollar out of our pocket to put down.
This strategy has always been popular, although much of it has gone away since of the influx of cash into our market and industry. Although I make no claims to income statements, I can tell you we have earned more money, with less risk on these types of transactions than we ever have in the traditional buy/sell/flipping business.
And we control the financing for years to come, allowing us to generate low rate cash on demand by selling a property and using that cash to acquire greater properties in areas of appreciation.
This slideshow will give you a visual understanding of the steps and strategy to take you through the time line of how this went down.
This infographic explains the strategy mixed with a real life example of how to make these deals truly work for you and build wealth along the way.
What You Will Learn In This Episode:
- How to use your next wholesale deal to build wealth instead of flipping for fast cash
- How to liquidate a property and still keep the financing
- Where to find the most likely candidates for owner financing
- Why people owner finance instead of selling for cash
- How to position yourself to buy more properties on owner financing
- How to create your own bank with information
Quotes to Live By:
00.23: How this strategy changed the game for our company
03.27: A quick highlight on the 5 topics we will be tackling
04.10: Topic No. 1 – Lead Generation
04.50: Driving more leads “What to do and not do”
09.05: The biggest mistake to avoid in marketing
11.56: Quick overview of the 4 Steps to follow in lead generation
12.36: Quote : – “Those who can’t do teach”
12.54: Understanding what is “stick-to-it-ness”
13.30: Topic No. 2- Opening the doors to owner financing
13.33: Two step process beginning with the initial marketing and supported in your communication
13.42: Case study – Explaining the 2 step process
15.39: A lesson from my Grandma’
17.18: Identifying “Seller benefits”
18.55: What do we mean by “unwinding inappropriately”
22.53: Quick rundown of the steps to follow when looking for owner financing
23.27: Topic No. 3 – Negotiating a YES
23.58: How my friend Mike Cantu made me realize “When someone says NO they are not saying NO but rather they haven’t been educated enough or not that confident in you”
24.22: What image does the seller have of you?
26.00: Trust is the “it” factor in this industry.
27.11: Having a platform where people learn about you.
28.42: A glimpse into how our platform looks like.
30.13: Quick rundown on how to get a YES.
30.25: Topic No. 4 – How to structure a deal.
31.00: What to find out when you meet with a seller.
31.25: What’s the goal of structuring owner financed deals.
33.15: An example of how this can go down.
34.36: Creating your own bank.
37.30: Meeting income and equity to cover debt with the seller.
39.37: Trading ‘up’ the sellers collateral.
40.10: Disclaimer – This is a 3 day seminar to make you understand the process.
41.50: Quick rundown on how we structure our deals.
42.15: Topic No.5 – Building a platform to owner financing.
43.03: The 3 things lenders are looking for and what you need to supply them.
46.26: Our companies “blue ribbon, red carpet lender service” package explained.
59.50: Similarities to a 10-31 exchange.
61.09: Action steps.
64.50: Where to find us.