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
If you’d like a shoutout (and a chance to win a $20 Home Depot gift card), just leave a review on Apple Podcasts and send a screenshot of it to me on Instagram via DMs!
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
Listen to the show on your favorite podcast platform and be sure to follow, and leave a review to help introduce the show to more real estate investors like you!
If you’re ready to legally grow and protect your portfolio today, save your seat in my free workshop so you can learn how to take the simple legal steps to protect the portfolio you’ve worked so hard to build. Click here to watch my free workshop so you can get protected right now!
- Read Bonnie’s Blog for the latest legal tips, podcast episodes, & behind the scenes of building her 7-figure portfolio
- Listen to the House of Horrors Podcast
- Sign up for my free legal workshop
Join my Free Legal Workshop
- Follow Bonnie on Instagram for legal tips, property management advise, and daily behinds the scenes of her biz and portfolio
- Learn & laugh over bad legal advice with Bonnie on Tiktok
- Subscribe and follow House of Horrors and activate notifications for new episodes on any of the following podcast players:
DISCLAIMER: Although Bonnie is an attorney she doesn’t give legal advice without a written and dually signed engagement agreement. All episodes of House of Horrors are educational and informational only. The information discussed here isn’t legal advice and isn’t intended to be. The information you listen to here isn’t a substitute for seeking legal advice from your own attorney
© 2021-2022 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC
AFFILIATE LINKS: Some of the links we share here may be affiliate links, which means we may make a small financial reward for referring you, without any cost difference to you. You’re not obligated to use these links, but it does help us share free resources like this podcast. Thank you for supporting us!