Podcast

#32 Stepping Into No Equity and HO Partnering

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Summary

The purpose of this episode of The Most Dwanderful Real Estate Podcast Ever is to sum up the topics that have been covered so far in the podcast and specifically this season about short sales and to prepare you for the final month of this season. Since the month of June will be focused on subject 2 sales and homeowner partnering, you need to transition your mindset and put out some “rent to buy” and “owner financing” bandit signs to start drumming up new clients. Many people who suffered during the financial crisis 10 years ago have been saving up to buy a home, but they have not rebuilt their credit enough for the bank to offer them a loan. You can be their solution by offering owner financing.

Time Stamped Show Notes

  • 3:09 – Dwan checks in to see if you are keeping everything going in the right direction. How are your 5 Equities of Life: financial, physical, emotional, family, and spiritual? Balance is the key to a happy you.
  • 6:45 – Dwan wants you to be successful and to learn from her teaching style podcast.
  • 7:37 – June will be about Subject 2s and partnering with the homeowners.
  • 8:17 – Don’t forget about the resources available to you at Dwanderful.com when you join the membership site for just $1!
  • 9:16 – April and May have been about short sales, which every investor will get into at some point.
  • 10:49 – On the podcast so far, we have talked about finding homeowners in distress, the bankruptcy timeline, flipping contracts, the 3 offers to the bank, and securing your buyer.
  • 15:07 – As a real estate investor, you are supposed to know everyone else’s job and check up on them throughout the process to make sure they are taking care of their share.
  • 16:26 – Find an investor-friendly closing agent and have them structure everything properly.
  • 17:54 – If you have been listening to this podcast for a while but you haven’t started taking Dwan’s advice and getting out there to make money, now is the time. You know more than most people in the real estate investing community just because you are learning from Dwan.
  • 19:12 – In June, you will start working with a different kind of buyer. Take 20-25 of your “Rent to Own” and “Owner Financing” bandit signs and place them in the lawns of vacant houses. From these signs, you will get hundreds of calls, so you should invest in an answering service like PATLive.
  • 21:49 – From these calls, you can start to gauge who is ready and able to give you a down payment that will cover the back payments, moving expenses for the current residents, and make you a profit on the property.
  • 23:39 – You essentially make money 3 times during an owner financing deal, so these are very hot investments right now.
  • 26:06 – Your assignment this week is to get your bandit signs in some yards and start taking calls.
  • 26:57 – Granted, this owner financing investment is paperwork intensive, but it is worth it. AND if you are a Dwanderful.com member, you have access to everything you need in the Document Library.
  • 29:15 – Over the next few weeks, we will be talking about different owner financing scenarios and how to partner with a homeowner who knows they have a lot of equity.
  • 31:09 – As a special offer for podcast listeners, the Short Sales program is available for $997 at Dwanderful.com/shortsales with the code BANK.

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