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

The Questions New Real Estate Investors Ask

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!

𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐖𝐞 𝐂𝐨𝐯𝐞𝐫:

• 4:45 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐎𝐍𝐄: What are some of the biggest challenges, that you guys come across when purchasing, flipping?

• 7:54 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐓𝐖𝐎 How do you guys budget for a surprise expense?

• 10:34 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐓𝐇𝐑𝐄𝐄: Do you fly to check on your properties at all or stay hands-off for the most part?

• 14:00 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐅𝐎𝐔𝐑 When you look at your deals, what is your funding source breakdown, meaning the percent of hard money versus private money deals?

• 14:43 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐅𝐈𝐕𝐄 Did he get rid of those squatters?

• 15:21 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐒𝐈𝐗 Do you guys create an LLC or SP and why?

• 16:52 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐒𝐄𝐕𝐄𝐍 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 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐄𝐈𝐆𝐇𝐓 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 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐍𝐈𝐍𝐄 What are private loans?

• 25:27 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐓𝐄𝐍 Why Brad does not invest in California?

• 26:47 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐄𝐋𝐄𝐕𝐄𝐍 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 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐓𝐖𝐄𝐋𝐕𝐄 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 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐓𝐇𝐈𝐑𝐓𝐄𝐄𝐍 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 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐅𝐎𝐔𝐑𝐓𝐄𝐄𝐍 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 𝐐𝐔𝐄𝐒𝐓𝐈𝐎𝐍 𝐅𝐈𝐅𝐓𝐄𝐄𝐍 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?

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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!

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