AIPIS 91 - David Wood, I Love Real Estate

You don’t have to wait to start building your real estate portfolio. Many for sale by owner properties have sellers motivated by changes in their lives and problems which you may have the answer to. You may even be able to get creative with financing terms if you solve their particular issue. Your risk may be mitigated by living in the single family home you bought, while doing the right renovations for the neighborhood. If you wait to get started creating your wealth your wealth may never be created.

Key Takeaways:

[3:00] How David got started in real estate

[4:27] Doing the right renovations for the right amount of money

[8:20] The risk is mitigated by living in the home for a while

[9:20] Positive cash flow real estate

[12:03] Allowing your real estate portfolio to give you complete financial freedom

[13:41] Commandment #5 - Thou shalt not gamble when buying property

[14:39] Vacant land sucks money out of your pocket

[15:43] If your partner can deal with some construction dust you can start your portfolio now

[18:17] We decided to remove the marginal properties from our portfolio

[20:44] A history lesson from Jason about deferred down payment plans

[24:51] Making money at negotiating the real estate deal through For Sale By Owner

[28:12] Creative financing tips that solve problems

[31:45] Rent to own is it worth it?

Mentions:

Amplified Living

Crank it Up Podcast

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