Episode #22: Questions New Real Estate Investors Ask w/ Michael Del Prete

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Are you an investor who just starting off? Or maybe never done a deal? Now that you have arrived, your real estate investing journey can now begin!

๐๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐–๐ž ๐‚๐จ๐ฏ๐ž๐ซ:
  • 4:45 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐Ž๐๐„: What are some of the biggest challenges, that you guys come across when purchasing, flipping?
  • 7:54 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐–๐Ž How do you guys budget for a surprise expense?

  • 10:34 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐‡๐‘๐„๐„: Do you fly to check on your properties at all or stay hands-off for the most part?

  • 14:00 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐…๐Ž๐”๐‘ When you look at your deals, what is your funding source breakdown, meaning the percent of hard money versus private money deals?
  • 14:43 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐…๐ˆ๐•๐„ Did he get rid of those squatters?

  • 15:21 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐’๐ˆ๐— Do you guys create an LLC or SP and why?

  • 16:52 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐’๐„๐•๐„๐ For the breakdown of expenses, as far as trips dinners, do you guys do an Excel spreadsheet? Or just take a pick of receipts?

  • 17:35 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐„๐ˆ๐†๐‡๐“ I heard there's a cap on 10 loans. So looking at private money to keep scaling are these short-term balloon loans or amortizing these out 10 plus years?
  • 21:27 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐๐ˆ๐๐„ What are private loans?

  • 25:27 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐„๐ Why Brad does not invest in California?

  • 26:47 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐„๐‹๐„๐•๐„๐ What is an approximate timeframe? That one has on a contract for purchase wholesale before backing out. For example, 21 days,30 days.
  • 28:35 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐–๐„๐‹๐•๐„ Would you prefer that when looking for a private money lender, we should build a relationship with that person before asking for money?
  • 30:17 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐“๐‡๐ˆ๐‘๐“๐„๐„๐ Is it better to have a separate LLC for each property, just in case someone sees you otherwise they could go after your property.
  • 31:48 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐…๐Ž๐”๐‘๐“๐„๐„๐ I've seen great cash flow in properties on paper, but have unpermitted bedroom additions, extensions, and if it appraises. Would you buy for cash flow or stay away?
  • 37:36 ๐๐”๐„๐’๐“๐ˆ๐Ž๐ ๐…๐ˆ๐…๐“๐„๐„๐ I'm willing to play the volume game, but closing costs is what burns too much cash on the acquisition unless I'm doing something wrong?

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This podcast is a Live Q&A recording from a real estate investing association. This class is catered to aspiring investors who have closed three or fewer real estate transactions. Michael answers a wide range of questions covering the basics of wholesaling, land lording and fix and flipping, and much more. Michaels purpose of this class is to help new investors find their own investor identity and give them a solid foundation to build on as they grow their real estate businesses.

Listen to the full episode as this episode will help you to find your own investor identity and give them a solid foundation of information and resources to build on as they grow their real estate businesses.

Stay Tuned and learn more...

Enjoy the show!

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