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Episode #22: Questions New Real Estate Investors Ask w/ Michael Del Prete

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Manage episode 307458117 series 2879567
Content provided by Michael Del Prete. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Michael Del Prete or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Are you an investor who just starting off? Or maybe never done a deal? Now that you have arrived, your real estate investing journey can now begin!

๐๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐–๐ž ๐‚๐จ๐ฏ๐ž๐ซ:
  • 4:45 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐Ž๐๐„: What are some of the biggest challenges, that you guys come across when purchasing, flipping?
  • 7:54 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐–๐Ž How do you guys budget for a surprise expense?

  • 10:34 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐‡๐‘๐„๐„: Do you fly to check on your properties at all or stay hands-off for the most part?

  • 14:00 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐…๐Ž๐”๐‘ When you look at your deals, what is your funding source breakdown, meaning the percent of hard money versus private money deals?
  • 14:43 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐…๐ˆ๐•๐„ Did he get rid of those squatters?

  • 15:21 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐’๐ˆ๐— Do you guys create an LLC or SP and why?

  • 16:52 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐’๐„๐•๐„๐ For the breakdown of expenses, as far as trips dinners, do you guys do an Excel spreadsheet? Or just take a pick of receipts?

  • 17:35 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐„๐ˆ๐†๐‡๐“ I heard there's a cap on 10 loans. So looking at private money to keep scaling are these short-term balloon loans or amortizing these out 10 plus years?
  • 21:27 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐๐ˆ๐๐„ What are private loans?

  • 25:27 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐„๐ Why Brad does not invest in California?

  • 26:47 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐„๐‹๐„๐•๐„๐ What is an approximate timeframe? That one has on a contract for purchase wholesale before backing out. For example, 21 days,30 days.
  • 28:35 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐–๐„๐‹๐•๐„ Would you prefer that when looking for a private money lender, we should build a relationship with that person before asking for money?
  • 30:17 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐‡๐ˆ๐‘๐“๐„๐„๐ Is it better to have a separate LLC for each property, just in case someone sees you otherwise they could go after your property.
  • 31:48 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐…๐Ž๐”๐‘๐“๐„๐„๐ I've seen great cash flow in properties on paper, but have unpermitted bedroom additions, extensions, and if it appraises. Would you buy for cash flow or stay away?
  • 37:36 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐…๐ˆ๐…๐“๐„๐„๐ I'm willing to play the volume game, but closing costs is what burns too much cash on the acquisition unless I'm doing something wrong?

~~

This podcast is a Live Q&A recording from a real estate investing association. This class is catered to aspiring investors who have closed three or fewer real estate transactions. Michael answers a wide range of questions covering the basics of wholesaling, land lording and fix and flipping, and much more. Michaels purpose of this class is to help new investors find their own investor identity and give them a solid foundation to build on as they grow their real estate businesses.

Listen to the full episode as this episode will help you to find your own investor identity and give them a solid foundation of information and resources to build on as they grow their real estate businesses.

Stay Tuned and learn more...

Enjoy the show!

-----

If you love listening to this podcast, please leave a review in Apple Podcasts. Tune in for the next episode. Subscribe to our podcast on iTunes and follow us on our social media pages.

To get our freebies, head over to our website www.michaeldelprete.com and join the Community for a chance to get ahead of the pack. Be the first to get all the latest real estate investing, tricks, videos, and free training invitations.

---

Connect with Michael at:

Facebook

Twitter

Instagram

Linkedin

Recommended Resources with FREEBIES!

Wholesale Guide: The Cliff Note Version: By Michael Del Prete

Deal Machine: Here's a 14-day free trial!

Propstream: Give it a test drive today, with a 7-day free trial!

Batch Skip Tracing: Use the coupon code "AZREIA" at checkout to receive a 43% discount!

Property Scout Pro: Join Us on Facebook!

CallCentered: Ask for Scott, let him know Mike sent you.

---

Grab these Opportunities For You!

Partner With Michael: I show regular people how to use rental properties to grow their retirement savings so that they can stop worrying "if they will ever retire", and KNOW that they WILL retire.

P.S. Without the hassles of tenants or toilets!

โ†’ 15 Minute Phone Meeting

First Deal Accelerator: I'm putting together a mastermind for late 2020 where I'm going to work with a handful of private clients one on one. I will personally teach you how to flip your first wholesale deal and get paid. You will gain the knowledge, experience, and gain the confidence necessary to continue closing deals for a lifetime.

Also, find the show on Feedspot: https://blog.feedspot.com/real_estate_podcasts

  continue reading

30 episodes

Artwork
iconShare
 
Manage episode 307458117 series 2879567
Content provided by Michael Del Prete. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Michael Del Prete or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Are you an investor who just starting off? Or maybe never done a deal? Now that you have arrived, your real estate investing journey can now begin!

๐๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐–๐ž ๐‚๐จ๐ฏ๐ž๐ซ:
  • 4:45 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐Ž๐๐„: What are some of the biggest challenges, that you guys come across when purchasing, flipping?
  • 7:54 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐–๐Ž How do you guys budget for a surprise expense?

  • 10:34 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐‡๐‘๐„๐„: Do you fly to check on your properties at all or stay hands-off for the most part?

  • 14:00 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐…๐Ž๐”๐‘ When you look at your deals, what is your funding source breakdown, meaning the percent of hard money versus private money deals?
  • 14:43 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐…๐ˆ๐•๐„ Did he get rid of those squatters?

  • 15:21 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐’๐ˆ๐— Do you guys create an LLC or SP and why?

  • 16:52 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐’๐„๐•๐„๐ For the breakdown of expenses, as far as trips dinners, do you guys do an Excel spreadsheet? Or just take a pick of receipts?

  • 17:35 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐„๐ˆ๐†๐‡๐“ I heard there's a cap on 10 loans. So looking at private money to keep scaling are these short-term balloon loans or amortizing these out 10 plus years?
  • 21:27 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐๐ˆ๐๐„ What are private loans?

  • 25:27 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐„๐ Why Brad does not invest in California?

  • 26:47 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐„๐‹๐„๐•๐„๐ What is an approximate timeframe? That one has on a contract for purchase wholesale before backing out. For example, 21 days,30 days.
  • 28:35 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐–๐„๐‹๐•๐„ Would you prefer that when looking for a private money lender, we should build a relationship with that person before asking for money?
  • 30:17 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐‡๐ˆ๐‘๐“๐„๐„๐ Is it better to have a separate LLC for each property, just in case someone sees you otherwise they could go after your property.
  • 31:48 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐…๐Ž๐”๐‘๐“๐„๐„๐ I've seen great cash flow in properties on paper, but have unpermitted bedroom additions, extensions, and if it appraises. Would you buy for cash flow or stay away?
  • 37:36 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐…๐ˆ๐…๐“๐„๐„๐ I'm willing to play the volume game, but closing costs is what burns too much cash on the acquisition unless I'm doing something wrong?

~~

This podcast is a Live Q&A recording from a real estate investing association. This class is catered to aspiring investors who have closed three or fewer real estate transactions. Michael answers a wide range of questions covering the basics of wholesaling, land lording and fix and flipping, and much more. Michaels purpose of this class is to help new investors find their own investor identity and give them a solid foundation to build on as they grow their real estate businesses.

Listen to the full episode as this episode will help you to find your own investor identity and give them a solid foundation of information and resources to build on as they grow their real estate businesses.

Stay Tuned and learn more...

Enjoy the show!

-----

If you love listening to this podcast, please leave a review in Apple Podcasts. Tune in for the next episode. Subscribe to our podcast on iTunes and follow us on our social media pages.

To get our freebies, head over to our website www.michaeldelprete.com and join the Community for a chance to get ahead of the pack. Be the first to get all the latest real estate investing, tricks, videos, and free training invitations.

---

Connect with Michael at:

Facebook

Twitter

Instagram

Linkedin

Recommended Resources with FREEBIES!

Wholesale Guide: The Cliff Note Version: By Michael Del Prete

Deal Machine: Here's a 14-day free trial!

Propstream: Give it a test drive today, with a 7-day free trial!

Batch Skip Tracing: Use the coupon code "AZREIA" at checkout to receive a 43% discount!

Property Scout Pro: Join Us on Facebook!

CallCentered: Ask for Scott, let him know Mike sent you.

---

Grab these Opportunities For You!

Partner With Michael: I show regular people how to use rental properties to grow their retirement savings so that they can stop worrying "if they will ever retire", and KNOW that they WILL retire.

P.S. Without the hassles of tenants or toilets!

โ†’ 15 Minute Phone Meeting

First Deal Accelerator: I'm putting together a mastermind for late 2020 where I'm going to work with a handful of private clients one on one. I will personally teach you how to flip your first wholesale deal and get paid. You will gain the knowledge, experience, and gain the confidence necessary to continue closing deals for a lifetime.

Also, find the show on Feedspot: https://blog.feedspot.com/real_estate_podcasts

  continue reading

30 episodes

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