• 3 months ago
Successful idea's
Transcript
00:00I just bought this $650,000 new build home for just $5,000 out of pocket with a 3.1% interest rate
00:08and nobody checked my credit. Here's how. So right now, there's a unique opportunity in
00:13the market. There's all these people who put down very little money, 3%, 5%. And if they bought a
00:19house in 2021 or 2022, and they ended up having to move for work or some emergency, they likely
00:25have no equity because home prices haven't gone up that much. And in some places have even gone
00:31down. So I found this house by going out and looking for failed listings. Failed listings
00:37are properties where someone tried to sell the home, but ultimately couldn't after six months.
00:43I reached out to the owner. I said, Hey, I saw you try to sell your house and couldn't,
00:47would you be open to me just taking over your mortgage payment? He was open to this.
00:52So we made a deal and I took over his home the very next month. Now, my plan is to turn this
00:58place into a one to $3,000 a month cash flowing machine by turning it into a short term rental,
01:05also known as an Airbnb. Look right now, the real estate market is in panic.
01:10Nobody's getting into the game because interest rates are at 8%. So if you want to be a 1%
01:15investor, you have to learn how to pivot and put other tools in your toolbox to be able to
01:20make deals happen. For more on how to do that, hit that follow button.