Investing In Real Estate With Lex Levinrad

On this podcast episode I talk about learning how to wholesale real estate, and why wholesaling attracts the largest amount of new real estate investors. I share with you the importance of having a goal and a vision of thinking about, understanding, and knowing what you want to achieve from wholesaling. I also explain to you why one person's goal and how much they are looking to make from wholesaling may be very different to someone else's. It does not matter whether you have a full time job with no spare time, or you have lots of time but no money. What does matter is knowing how to employ your circumstances into trading either your time or your money (or both) into learning how to wholesale. The key thing to understand is that it will help you if you have a vision of what it is you are trying to accomplish BEFORE you get started learning how to wholesale. Ask yourself what it is that you want to achieve. Listening to this podcast episode should help you with that. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast I talk about the Buy, Repair, Rent and Refinance strategy which is often referred to as BRRR. The concept behind the buy, repair, rent and refinance strategy is that if you can find deals at 75% or less of the After Repair Value (ARV), you can essentially be doing no money down deals because you will get your money back when you refinance. You will then be able to use that same money to buy your next property. When you refinance the property and get your money back then you are essentially in your first deal for no money down. At this point you can use the same funds to buy the second property and then repair, rent and refinance that one too. You can do this for your first ten rental properties. What makes this strategy even more appealing is when you borrow the funds from a private lender to purchase the property. Once you do this once, you will realize the only thing stopping you from buying unlimited properties is having more private lenders. When you have multiple private lenders you will get to a point where your main dilemma won't be finding capital but finding houses. And that is where your growth will happen. That is what will take you from a small business making $10,000 or $20,000 a month to a business that can make $200,000 a month (or more). The key is to constantly be marketing to motivated sellers. Many beginners think that not having access to capital is what holds them back. It's not. What is holding them back is learning how to find good wholesale deals at wholesale prices that are less than 75% of market value. And the way you find many of those deals is from motivated sellers (and also short sales and bank owned properties. If you buy a few properties a year using this strategy, you can substantially increase your income, net worth and cash flow. Buy and hold a few properties a year and in just 10 years you will have a very substantial net worth! If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I talk about raising private money from private lenders. Many beginners that don't have much money want to know the "secret" to raising money. The reality is that there is no secret. The secret is approaching investors in the right way and knowing how to find those investors. You see if you ask people who have money to invest with you, they will invariably say no. The secret that you need to understand is that you need to focus on what THEY NEED. They need security, and they need to know that you are going to pay them their interest payment every month, and they are going to need to know that their investment is safe and that they have collateral. And finally, they are going to need to know that you know what you are doing and that you have some experience. If you can show them those 4 things then you will have no problem raising capital. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I talk about how to get started investing in real estate with no money. If you don't have much money, but you want to learn how to get started in real estate, then listen to this podcast. I will explain to you why being a real estate property locator or bird dog is the best way to start out, and why you don't need to have any money to start looking for deals for investors. That is how I started out, and that is what I recommend for you as well. Even if you do have money, I still recommend that you start out as a property locator and learn how to wholesale, before you start putting your hard earned cash (and credit) on the line. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I talk about buying deals directly from wholesalers, and how that is an untapped niche that many investors don't utilize. Much of the focus for new and experienced wholesalers focuses on finding deals, getting the houses under contract and then flipping those houses to cash buyers. However, just because you are a wholesaler, doesn't mean you can't be a cash buyer too. The key is to know what a property is worth. If you know the After Repair Value of the property, and you know for a fact that there is a substantial profit that could be made by rehabbing that property, then you can close on the house yourself and fix and flip the property. All you would need to do this is access to capital, a private lender or a credit line. Even if you have zero desire to be a rehabber (like many wholesalers) you will not give away your best deals too cheaply if you know what they are worth and you know what you could sell them for. Knowing the ARV is very important. You can also apply this same strategy to close on deals from other wholesalers. The key is that you need to position yourself to be the ideal cash buyer. The way you do this is by being very specific on what it is that you are looking for, and when they bring you a deal that meets these parameters then close on the deal and make sure they get paid. Next time they get a deal you will be their first phone call. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I talk about buying deals directly from wholesalers, and how that is an untapped niche that many investors don't utilize.

Much of the focus for new and experienced wholesalers focuses on finding deals, getting the houses under contract and then flipping those houses to cash buyers.

However, just because you are a wholesaler, doesn't mean you can't be a cash buyer too. The key is to know what a property is worth. If you know the After Repair Value of the property, and you know for a fact that there is a substantial profit that could be made by rehabbing that property, then you can close on the house yourself and fix and flip the property. All you would need to do this is access to capital, a private lender or a credit line.

Even if you have zero desire to be a rehabber (like many wholesalers) you will not give away your best deals too cheaply if you know what they are worth and you know what you could sell them for. Knowing the ARV is very important.

You can also apply this same strategy to close on deals from other wholesalers. The key is that you need to position yourself to be the ideal cash buyer. The way you do this is by being very specific on what it is that you are looking for, and when they bring you a deal that meets these parameters then close on the deal and make sure they get paid. Next time they get a deal you will be their first phone call.

If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below:

FREE WHOLESALING TRAINING

https://www.lexlevinrad.com/webinar

FIXING AND FLIPPING TRAINING

If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar

DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES

SUBSCRIBE TO MY YOUTUBE CHANNEL

http://www.youtube.com/lexlevinrad?sub_confirmation=1

CONNECT WITH ME ONLINE

http://www.lexlevinrad.com

http://www.facebook.com/lexlevinradrealestate

http://www.twitter.com/lexlevinrad

http://www.instagram.com/lexlevinrad

http://www.linkedin.com/in/lexlevinrad

http://www.pinterest.com/lexlevinrad

https://plus.google.com/+LexLevinradrealestate

DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES

For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I talk about getting started in real estate and the three main investing categories of real estate which are wholesaling, fixing and flipping and rentals. When you first start out in real estate, you need to decide if you want to focus on learning how to wholesale, how to fix and flip or how to buy and hold rental properties long term. It is tempting to want to learn all three investing strategies at the same time, but this is a classic beginner's mistake because each strategy requires a different and unique skill set. You will actually advance more quickly as a new investor if you focus on one skill set as a time (for example wholesaling). For most new investors, wholesaling and learning how to locate deals for other investors is the best way to start out because it gives you the most learning and requires the least amount of money. You don't risk any money wholesaling and if you are a beginner this is a very key and important consideration. If you have a good job and decent credit then you should be looking at building up your rental portfolio as well. And you should take the profits that you make from wholesaling and put that money to work in fixing and flipping and buying more rental properties. So you can learn how to do all three but I know many investors that make 7 figures a year that only wholesale or only fix and flip (meaning you don't have to know all three). But whether you fix and flip or wholesale for a living you should still be buying investment properties for the long term since that is how you will create true wealth for your future. And that is what will give you financial freedom. I discuss all three strategies and the pro's and cons of each strategy on this podcast. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I talk about the types of contracts you should use for wholesaling. One of the most common questions that I get is "what type of contract should I use". The answer is it depends. If you are buying from an entity like a bank or short sale, HUD, Fannie Mae, Freddie Mac, then you will need to use the Standard Purchase Contract for your state. In Florida it's called the FARBAR Contract. Banks and entities will also not allow you to assign their contracts so you cannot use the words "and or assigns" on a contract if one of these entities is the seller. However if you are buying directly from a motivated seller then you can pretty much use any contract that you want. When buying direct from sellers your contract should be: 1. short 2. assignable 3. have as long of an inspection period that you can get away with - the longer the better. FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I talk about buying houses with no money down. One of the easiest ways that I know to explain "no money down" deals is to give you a real life example of my first no money down house that I purchased. The house that I am talking about on today's podcast was a house that I estimated had an After Repair Value (ARV) of $120,000. The house was offered to me by my mentor (who got it from a wholesaler). The purchase price was $50,000 which included all of the wholesalers fees. The house had a significant amount of water damage from Hurricane Frances and needed around $25,000 in repairs. I purchased this house with a $50,000 loan from my mentor's partners dad. I borrowed the $25,000 for repairs from my friend Darryl's mom. After repairing this house (using my mentor's crew) I rented out the front house for $1,200 and I rented the back unit efficiency for $600 (total $1,800 per month). I went to my mortgage broker Warren to refinance the house. The house appraised for $163,000 and after paying off my lenders I received $39,000 on the cash out refinance. I used that money as a down payment to purchase my primary residence in Boca Raton (I still own that house). Remember this, if you can buy houses and your "all in cost" (purchase plus repairs plus fees) is less than 80% of what the house would appraise for, then you too can buy houses with no money down. The trick is - how to find these houses. My Home Study Course that I give to all of my Partnership Program Students starts out with the first 10 houses that I purchased (all with no money down). This house that I am talking about on today's podcast is house number one in my Home Study Course. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I talk about driving for dollars and how driving for dollars has one of the highest Return on Investment (ROI) of any of our marketing methods that we use. I discuss the old school method of using a notepad and pen to jot down the addresses of vacant and boarded up properties and how to use the property appraiser web site to locate the property owner (to mail them a postcard or letter). I compare that to the new technology methods of using smart phone apps like Deal Machine (www.dealmachine.com) and Send Fuse (www.getsendfuse.com) to market with postcards to motivated sellers. If you are not driving for dollars and using these apps then you should be. I also discuss your "investor toolkit" and what tools you should have in the trunk of your car when you are out looking for deals by driving for dollars (including bandit signs). Incorporate driving for dollars and utilize bird dogs by giving them access to your apps to make sure you are maximizing your opportunity to find wholesale deals in your market. Make sure you listen to the previous podcast episode that I did yesterday on becoming a bird dog (property locator). If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com