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Ep 102: Breaking Down 2 Creative Financing Deals
02:57 – Their Bakersfield deal came from cold calling. A woman wants to sell a house that her mom used to live in. This house has a back payment and she just wants to walk away from it. The back payment cost is $3500 and a mortgage of $450.
04:34 – They basically said that if this house was fixed up, they think that it will cost about $130,000.
06:09 – What they are doing there is basically making about $550 in cash flow per month. Which they split between them but at the same time they also get a down payment.
06:18 – There’s a few different ways that Kyle and Stratton have talked about. If they get a deal, they have different exit strategies based on each deal. One is they both agreed the least option is the best way to go, the second way is airbnb if it’s in a good area, third would be owner finance, and fourth was basically just a long term tenant.
06:45 – They get properties with either no money or they will raise the money to get the properties.
09:28 – Stratton said that they made money out of nothing and for not that much time. The hardest part and most time consuming is selling the property, but now Stratton knows how to set things up to be a little bit automated and now it’s not even an issue.
11:19 – Lemoore deal came from Stratton’s network. An acquisition guy reached out to him. They spent $15,000 on this deal all-in.
12:28 – The great thing that Kyle likes about this deal is there’s multiple exit strategies because they have a little equity on it.
13:15 – Stratton explains why they choose the Owner Financing on this Lemoore deal.
15:44 – Kyle didn’t expect to receive hate comments from Facebook when they put this deal in the Facebook Marketplace.
15:45 – Kyle told his buyer’s standpoint of why this Lemoore property is a solid deal for people. He explains why.
25:58 – Kyle loves the fact that this is the ultimate type of deal. Because the majority of these deals have 3 different payoffs.
27:31 – What Kyle loves about real estate is that everyday you’ll learn some new strategies and exit strategies.
29:24 – Stratton says, “Don’t just go out there and do it, get a mentor”. Kyle also said that you need someone next to you, not only showing you how to not make mistakes and to make more money. You need to do it because it is the right legal thing to do as well.
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