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I Funded This $60K Rental Property in Just 31 Minutes
Manage episode 491346565 series 3666273
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Ever wonder how some investors seem to close deals overnight while others struggle for months? The secret isn't luck or connections—it's preparation and relationships.
I recently transformed an ordinary text message into a fully-funded real estate deal in just 35 minutes. This wasn't through some complex strategy or inside connection, but rather by applying fundamental principles anyone can use: emotional discipline during negotiations, strong relationships with lenders, and a clear understanding of my investment numbers.
The property—a $60,000 three-bedroom house in Milwaukee—demonstrates why staying grounded in your investment criteria is crucial. When competing offers pushed the price up, I increased my offer by only $1,000 rather than getting caught in an emotional bidding war. As I often remind myself: if your deal is good at $60K but bad at $61K, it probably wasn't a good deal to begin with. This disciplined approach has protected my portfolio numerous times.
The most powerful moment came when funding was secured. Because I had built trust with my hard money lender through multiple successful deals, they pre-approved my loan within 31 minutes of my email—no lengthy applications or endless documentation required. This efficiency illustrates why relationship-building might be the most underrated skill in real estate investing.
While the $600 monthly cashflow this property will generate isn't life-changing, the $60-70K in equity potential absolutely is. This perfectly captures why focusing on buying below market value creates wealth far faster than chasing cash flow alone. Rome wasn't built in a day, and neither is a sustainable real estate portfolio.
What steps are you taking to build relationships with potential funding partners? Your next deal might be just one text message away.
Fejezetek
1. Introduction and Deal Overview (00:00:00)
2. Finding the $60K Property (00:01:36)
3. Negotiating Without Emotions (00:03:13)
4. Funding in Just 31 Minutes (00:05:19)
5. Breaking Down the Deal Math (00:07:04)
6. Key Takeaways for New Investors (00:10:09)
33 epizódok
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