Real Estate Investing with No Money

Real estate investing with no money

Real estate investor, Trainer Trevor Evans, teaches, how to invest in real estate with No Money. Trevor teaches, how to get funding for your deals, fix and flip,  your, investment properties, and, how to flip a house.

Watch the YouTube video to learn how to Invest in Real Estate from a, Rich Dad, real estate investor.

What you will learn about Real Estate Investing in this motivational video:

1. What are some strategies to purchase property for your,  real estate investing, business with little or no cash?

There are several way to do this. You can max out your credit cards, you can set up a lease to own deal, you can get seller financing.

2. What does, Hard money lenders, look for in a good deal?

They look for the ROI or return on investment

3. How do you make your deal attractive to a, Hard money lender?

Show that the resale value is at least 40% higher that the investment.

Strategies using other people’s money to fund your, real estate investments:

1. Using your credit cards to fund your deals. The more credit you have the better off you are!

2. Hard money Lenders,  Hard money lenders,  look at the asset and not at your credit score.

3. Borrow money from friends and family. You convert them into, Hard Money lenders, and pay them a good interest rate to start your, house flipping, business.

4. Borrow from your Whole Life Insurance policy.

2. Take a loan from your 401K.

3. Take out an Equity line of credit on your personal house.

 

The commonly used strategy in, real estate investing,  is the use of a, Hard Money Lender.

You need a, Hard money lender, for your, real estate investing, business. A money lender does not look at your credit, what does he look for?

1. Your expertise. Most, Hard money lenders, want you to have three investments under your name. This does not include your personal residence.

2. The ARV or after repair value. The property must have equity before the deal is made.

3. How did the property come on the market. Eg is it a Foreclosure, short sale or probate.

4. What is your, exit strategy? Is your, exit strategy, to, buy and hold, or, fix and flip?

5. How long you need to complete rehab work.

6. How much is the estimated cost of repairs.

 

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Hard Money Lender do not offer 100% Financing

Make no mistake, hard money lenders, need borrowers to deploy their capital and get a return on investment for their capital partners. They often enjoy repeat business, real estate investing, aren’t typically one-time borrowers, so asset-based lenders like, hard money lenders, or, private money lenders, value the business relationships they develop with quality borrowers.

Real estate investing, with no money down or little or no cash is to borrow from, Hard money lenders, who charge high interest for short term loans. When, hard money lenders, provide a loan, they want to be confident that the, borrower, is able to repay the loan on time. If the, borrower, isn’t able to pay back the loan, this creates a great deal of extra work, stress and potential financial loss for the lender. A strong, borrower, with a significant down payment (or equity in the property) and cash reserves has the best chance of obtaining a, hard money loan, and succeeding with their, real estate, project.

Sponsor AD :

Myrna Young South Florida Realtor

Are you looking to invest in the south Florida or Fort Myers market? The time is ripe for investors. As a realtor, I have access to, off market discount properties, and, wholesale properties, for either your, buy and hold, or, fix and flip, investment strategies. Call  954-999-6125 for all your Sales, Rentals or Property Management services. We are licensed in, real estate, and, property management, and will sell or lease your house. Don’t delay, Call today 954-999-6125 or contact us @ https://www.realtor.com/realestateagents/myrna-young___3322478_080499227

Looking for a, Hard Money Lender? Here is an article from Connected Investors on how to get bids on your project.

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Connected Investors, the world’s largest, real estate investing, network and marketplace, today announced the launch of the first centralized real estate investment funding portal, CiX.com. The technology allows real estate investors to quickly and easily submit their deals to a network of asset-based lenders, ensuring the best terms for loans on their, investment properties.

Subscribe to the Transform you Mind podcast with Coach Myrna to get notification of all shows, Life coaching tips as well as Real Estate Investment tips and strategies.

Additional Resources

How to Create the Freedom Lifestyle through Real Estate Investments.

How to Build Wealth with Turnkey Real Estate Investing

Real Estate Investing: Are Rental Properties worth the Admiration?

Investing in Rental Properties

Real Estate Investing, in Rental properties gets a lot of admiration because of, passive income.  Usually there is positive cash flow in, rental properties.

Joke of the day Rental properties 

A young woman, pursuing a graduate degree in art history, was going to Italy to study the country’s greatest works of art.
Since there was no one to look after her grandmother while she was away, she took the old lady with her.
At the Sistine Chapel in the Vatican, she pointed to the painting on the ceiling. ‘Grandma, it took Michelangelo a full four years to get that ceiling painted.’
‘Oh my, ‘the grandmother says.
‘He and I must have the same landlord!’

A few weeks ago I interviewed my co host Trevor Evans on the topic “The path to Financial Freedom” We received such an overwhelming response to that topic that I decided to have a spin off on, Real Estate Investing. This is episode #2 in the series: Real estate investing, “Funding, Fixing and Flipping. Is Owning, rental properties, worth the headache?

As a realtor for over 17 years, investing in, rental properties, has been my space up to this point. I own several rental properties and I also manage several rental properties.

My co-host for this podcast is Trevor Evans: Speaker/Trainer for Legacy Education Alliance and Rich Dad Education. Trevor is also an Entrepreneur, Real Estate Investor. Banker and Founder of Personal Awakening Brand “Being Normal Sucks.”

I met Trevor earlier in the year when I attended a Get Motivated Seminar and signed up for a 3 day, real estate investing, seminar. I met my co host Trevor Evans at this program and let’s say his vast knowledge on the subject of, real estate investing,  and, real estate, opened my mind to new opportunities.

I didn’t know what I didn’t know!

His knowledge base was extensive. I immediately enrolled in the Legacy Education Alliance, investing in real estate, training program.

Real Estate tip of the week

What is your best choice as a, real estate investment? From the book Your money and how to keep it by Brian Costello

Real Estate, will be a natural choice for many as an, real estate investment, vehicle. Generally, real estate, can be counted on to rise in value over a period of time. If you want short term investments, you can use short term investment vehicles like treasury bills. Other options are gold, commodities and the options market. Small investors are now also switching to Mutual funds because they offer a great deal of flexibility, and they can be cashed in at any time.
So, the best investment choice depends on your country laws as it relates to Capital Gains tax vs interest tax. In the USA and Canada, interest is taxable while you can make a lot of money tax free with capital gains.

Todays episode of Fund, Fix and Flip is sponsored by, Myrna Young Realtor 

Are you looking to invest in the south Florida market? The time is ripe for investors. Call Myrna Young  at Century 21 Selling Paradise 239-542-5777 for all your Wholesale or Rehab purchases, Buy and Hold, rental properties, or Property Management services. We are licensed in real estate and property management services and can also buy or lease your home. Don’t delay, Call today 239-542-5777

“Is Owning Rental properties worth the headache?” Show notes:

What are investors doing that is causing the headache?

  1. Not properly screening the tenant.
    Most investors are stressed to put a tenant into, rental  properties, because it costs to have a vacant property.
    That is the underlying reason that they short the screening process or decide to take a risk with a tenant. But it costs more to have the tenant removed and evicted, so the pain of a bad tenant lingers for a long time.
  2. Not understanding the renters mindset
    A renter does not have an owners mindset to take care of a property.
    The environment the rental is living in determines the mindset of the tenant. If you have a tenant in a single family home that is costing over $1500 per month.  That tenant has an owner’s mindset and would usually take care of the, rental property, as his own because he or she is probably an executive and is not renting because they can’t afford to buy.
  3. Know your tenant
    That allows you to skip inappropriate steps.
  4. Understanding the positive cash flow cycle
  5. Buy only properties that need remodeling instead of renovations
  6. Setting up warranty or replacement work directly with local scratch and dent shops
  7. Paying a flat fee to a Property Management company

Additional resources

Some resources for Real Estate Investors:
BiggerPockets: The Real Estate Investing Social Network. There are many free articles and forum threads all for free on how to get started in real estate investing.

https://www.mashvisor.com Use analytics to find lucrative traditional or Airbnb properties in a matter of minutes.

https://myhelpsrealestateinvestments.com/ – list of off market properties at discounted prices in Fort Myers, Fl and West Palm beach, Florida

How to Get Started with Wholesaling

Team coach

 

Wholesaling, is often marketed as a low-to-no cost way of getting into real estate investing and this can be true. A new, wholesaler, can certainly profit with a much lower initial cash outlay than a, real estate investor, who has to buy a property and rehab it.

In, wholesaling real estate, a real estate, wholesaler, contracts with a home seller, markets the home to his potential buyers, and assigns the contract to the buyer. The, wholesaler, makes a profit, which is the difference between the contracted price with the seller and the amount paid by the buyer.

What Exactly is Wholesaling Real Estate?

Wholesaling, is often marketed as a low-to-no cost way of getting into, real estate investing.  However, the successful, wholesaler, has to have a firm grasp of what makes for an attractive deal – once you understand this process of , wholesaling, it becomes much easier and can be broken down into a serious of repeatable steps.

Word from our sponsors:

Are you looking to invest in the south Florida market? The time is ripe for investors. Call MyHelps Real Estate Investment Services Services LLC at 954-999-6125 for all your Sales, Rentals or Property Management services. We are licensed in real estate and property management and will buy or lease your property. Don’t delay, Call today 954-999-6125

How to Build Wealth with Turnkey Real Estate Investing

My co-host today on this podcast is Trevor Evans.
Trevor is a Professional Speaker, Real Estate Investor, Retail Store Owner.
Speaker/Trainer for Rich Dad Education and Founder of Personal Awakening brand “Being Normal Sucks.” Trevor has also been married for 19 years and have 2 beautiful daughters ages 22 and 18.

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Show Notes:

How to get started with real estate wholesaling

Investors ready to learn how to start, wholesaling houses, will be happy to know the process is not complicated. Here are a few simple steps to get started, real estate wholesaling:

  1. Research your local market before getting started.
  2. Find a realtor with off market discounted properties.
  3. Secure a financing source that works best for you. This is usually a Hard Money Lender.
  4. Begin searching for potential, wholesaling, properties by driving for dollars.
  5. Decide whether to sell the contract or assign the contract.
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What is a step by step plan to becoming a Real Estate Wholesaler?

Step 1: Create a Database of buyers:

Contact local Rehabbers and Contractors and ask them what kind of properties they are looking for to rehab.
You can find them at your local Chamber of Commerce or your local REIA

Ask them these questions.
1. What kind of properties are they currently rehabbing?
2. Type of properties they like to work with Eg. Single family or multi family?
3. What are they certified to work on? Eg. Are they certified to work on burn down or water damaged properties?

Step 2: Put an AD on Craigslist
Ask the following questions when you get responses to your AD
1. Is the property listed with a Realtor?
2. Are you speaking with the owner of the property?
3. Is the property in, Foreclosure, probate, bank owned, or free and clear
4. Does the property need rehab? If so what is the estimated cost of repair.

Step 3: Put together your power team which includes your Title and Escrow Agent.
If you structure your deals properly, you could use one escrow deposit for 10 properties!

In our first episode you talk about process. You said that setting up a process prevents failure.
What is the process for the real estate Wholesaler?

Wholesaler Website: do you need one

My friends at Connected Investors wrote this article on Getting started with, real estate Wholesaling.

Wholesaling, is often touted as the easiest entry point into the world of, investing in real estate. And financially speaking the barriers to entry are generally a lot lower, especially when compared to fix and flipping or buy and hold investing. Many experienced, professional investors have door-knocked and bandit-signed their way up the REI ladder without having more than a cell phone, gas money, and the will to WIN. read more …

• If you found this blog post inspiring, please Subscribe, Rate and Review this Podcast, then send me an email to info@myhelps.us with the subject line “podcast review” and I send you a free gift.

Free eBook: Wholesale Plan of Action Cheat Sheet

This cheat sheet was created by Connected Investors and goes into further detail on the Wholesaling steps.

Additional Resources

Is Starting A Real Estate Investment LLC A Good Idea?

How to Build Multiple Passive Income Streams