In this episode, you’ll hear:
- Derek’s House of Horrors
- Real Estate Investors Should Not Overleverage In 2022
- Real Estate Investors Should Work On Their People Skills
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Derek’s House of Horrors
Derek was kind enough to provide us with before and after pictures of this house of horrors!
Real Estate Investors Should Not Overleverage In 2022
If you needed to sell a property tomorrow could you afford to do so? If you have less than 10% equity you might need to bring money to the closing table to get the deal through. Even if you don’t plan to sell an investment property, you should always have an exit strategy prepared. Life happens – even to real estate investors. Death, job loss, divorce, or personal bankruptcy could lead to needing to sell an investment property. House hackers who purchase with FHA mortgages should be especially careful in not overleveraging. Ideally, househackers are purchasing distressed properties where repairs will add value and equity.
Note Investors Should Conduct Property Due Diligence
It’s tempting for real estate investors to purchase notes site unseen. However, Derek Dombeck shared a really good reason why getting eyes on a property before you purchase it’s note is critical. This is especially true when you are only buying a single note and a not a large portfolio of notes where the risks are more hedged.
Real Estate Investors Should Work On Their People Skills
It’s not enough to know how to underwrite a deal. Real estate investors also need to know how to negotiate deals, talk to people facing hardship, and come from a place of compassion. Derek Dombeck shared how his ability to handle difficult sellers has served him well throughout his note investing career.
Connect with Derek Dombeck
Derek’s Website: bestreifunding.com
Listen to House of Horrors on your favorite podcast player
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Episode Transcript
Under construction!
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