chrandlord

How much do you guys think I paid for this historic Spanish style house? 4 bed 2.5 bath. Parcel is the width of a full city block. It was zero down.

Okay people I took down the info product I made. I don’t have any desire to help anyone anymore. Got burned out on X. Lots of really exciting updates and properties we are taking over soon. Will update when I have time.

Everyone chases the motivated seller. I chase the tired one. Motivated means a deadline and probably competition. Tired means 22 years of 2am phone calls and nobody has ever offered them a way out that isn't a lowball.

I've never bought a real estate course. I learned seller financing watching one man take live seller calls on YouTube, for free, hundreds of times. The information has always been free. The reps are not. Nobody can watch videos for you.

The man who sold me 52 units told me his mentor once said he'd sell his entire portfolio on seller financing someday. He thought the guy was crazy. Fourteen months and four deals later, he'd sold most of it to me that way. Deal 1: $75,000 down. Deal 4: nothing down.

Building 1: bank loan, 25% down. Building 2: bank loan, down payment borrowed against building 1. Building 3: bank lent 100% because buildings 1 and 2 performed. Then sellers became the bank. The boring era is what made the creative era possible.

"Just get a HELOC and buy rentals." That's how you turn one asset into two liabilities. I bought 25 buildings with nothing down toward the price and never touched my house. Cross-collateralizing your home is the one line I don't cross. I walked from a deal I loved over it.

Eight months after buying a building with nothing down, the lender wired me $185,958.34. I still own it. I still owe the seller every penny of his 0% note. Siding, submetered water, renovated units. Rents went $1,100 to $3,690. The building didn't change. What it earns did.

My first call to a seller ended with him telling me to f*** off. His words: you ask too many questions. He was right. I was interviewing him like a form. Now I ask two things and shut up: What would you do with the money? What happens to this building if you do nothing?

One building. One water main. City code billed the OWNER a minimum water charge per unit. Five units. About $500 a month, mine. We submetered. Tenants pay their own now. At a 10 cap that's roughly $60,000 of value from a plumbing job.

Three exits every seller-financed deal needs before you sign: 1. Refinance: which bank, at what seasoning 2. Sale: who buys this in year 5 3. Extension: is the seller willing, and is it in writing If you can only name one, you don't have a deal. You have a countdown.

The part nobody posts about $0 down: It means no cash toward the PRICE. Closing costs still exist. The attorney still bills. My nothing-down deals still cost $2,000 to $9,000 to close. I show those numbers because hiding them is how people get hurt.

The seller told me not to waste his time unless I paid his full asking price. So I paid it. $20,000 down, 6% interest, and a 10-year amortization instead of 30. Cash flow is thin. The debt paydown is violent. He got his trophy. I got the building.

43 properties. 122 units. $128,750 of outside cash, total. Every closing statement is published in the free Deal Vault, one page per deal. Read three deals that look like your town, then go find your tired landlord. Free: skool.com/terms-over-cash

18 of my 43 deals had real money down. The average was about $24,000. I put money down when the deal calls for it. The method was never "never pay." It's that price and payment are separate negotiations. Anyone selling you pure zero down is selling you a highlight reel.

Four questions that tell you if a seller will carry: 1. Do they own it free and clear? 2. Have they owned it more than 10 years? 3. Do they self-manage? 4. Are they tired? Four yeses and you have a deal. Two yeses and you have a conversation.

Is this normal??

Cash flow is the most overrated number in real estate. Mine is about $30,000 a month and it swings hard, because we pour it back into the buildings. The number that moved my life was equity. Cash flow is a salary. Equity is an estate. Pick one.