If you are ready to build your real estate portfolio fast, then buckle up and get ready to learn! Today I am going over a crash course of tips, tricks, and concepts to get you ready to fly. Real estate investing does not have to be a long-term fight for financial freedom. Believe it or not, with the right strategy, you can be on the road to freedom in just a few months.
Let’s get started.
How to Build a Real Estate Portfolio in 12 Weeks or Less!
Before we jump in, I want to cover a few house cleaning tips that you need to always keep in mind. In order to build your real estate portfolio, you don’t need a real estate license or to go to real estate school. These things will not really teach you how to make money in real estate, but really just how to stay out of jail and follow the law.
Another point to always remember if you also don’t need a ton of money! I’m never going to ask my ladies to go to the bank, put 20% down, or do the old, slow, and boring real estate most people are used to. You can get things moving with as little as a $10 bill.
So, now that we’ve covered the basics, we are ready to begin.
The way I do real estate investing is through techniques called creative financing, which include my favorite type: lease options. This style of investing is why we don’t need a lot of money upfront. Instead, we use options like seller financing or private money in order to fund our investing and then work with sellers and buyers to negotiate a solid deal.
When you take the time to learn things like lease options and seller financing, you find a whole world of opportunity opens up for you! In fact, the first time I used these strategies with a property, I made over $15,000 in about 8 weeks with only a few hours of phone calls invested! Now that is a great ROI!
One thing to keep in mind with seller financing (also called owner financing) is that it only works with sellers who own their property outright. This means that they do not have a mortgage. What this allows is for me to ask the owner if they will act like the bank. I will “finance” the house from them.
When this happens it means I do not have to go to the bank, put money down, take out a loan, pay interest, or go through all of that financial headache in order to buy a property. I just start making payments on a house that they no longer want!
Yes, it is that easy to build a real estate portfolio…believe it or not.
People have a million reasons why they may no longer want the house, but people like me get to help them get rid of this weight so they can move on. That is the power of lease options and seller financing.
Once you have this basic foundation, it is time to start finding houses. I have a handful of favorite ways to find owner financed properties, but the biggest suggestion I will always make is to ASK EVERYBODY. No matter where you are or what you are doing, ask the question. “Hey, do you know anyone who has a house they paid off and don’t want anymore? Cool, I wanna buy it.”
The fact is that most people are actually really happy to help or connect you with people they know if you are just real and upfront.
Ask for what you want without being weird and sneaky and people tend to want to help and be part of the story.
Now, what if your seller does have a mortgage on their property still? Well, in this situation you can do what is called a lease option. I mentioned this before, but it is like the sister option for seller financing. For a lease option, you agree to basically rent the property from the owner with the option to buy it down the road for an agreed upon price.
What is amazing about lease options is that you can do a “sandwich” lease option where not only do you have an agreement with the seller, but then you also have your own buyer with a lease option from you! This means that you will act as a middle-man who works out the deal and handles the financial arrangement of the money throughout the course of the rental time.
Lease options are absolute GOLD when you want to build a real estate portfolio!
While I have made plenty of mistakes in my real estate journey, I have been able to help other ladies to build a real estate portfolio time and time again. Yes, it takes work and determination to learn, but this is such an amazing way to live the life you always wanted!
My FDDF ladies get down and dirty with all of the incredible things that they do. These are the ones who are serious about changing their lives forever! And everyone understands that you get out what you put into it. So, that’s why I want to give you my FREE guide: 10 Steps to Closing Your First Deal. I believe that this is the kind of knowledge everyone should have!
Our Facebook community is an amazing place where you can start to see everything come together for the people who are willing to do the work. The group is for you, so make sure you take a moment and join us! I can’t wait to see you there.
Remember, you can build a real estate portfolio in just a few weeks, but to make it something substantial will take time and work. However, it will take SOOOOO much less than the typical 9-to-5 dead-end job.
What is stopping you? It is never too late to change your life.