How to Buy a House with No Money Down with Tim Padavic

 

Episode: How to Buy a House with No Money Down with Tim Padavic

Guest: Tim Padavic is the Vice President of The Federal Savings Bank. He’s licensed to lend in all 50 states.

Big Idea: Offering Your Retail Buyer “No Money Down” Wins More Deals (for Agents) & Keeps More Money in YOUR Pocket (for Flippers). Buying a house with no money down allows more buyers to participate in the red-hot real estate market. Recent surveys show the reason many buyers remain on the sideline is a limited savings for the down payment.
Agents & buyers obviously benefit by knowing how to buy house with no money down. Fix & Flip investors also benefit because they can offer buyers of their projects the option of no-or certainly very low money down.
If you’re flipping houses and use a real estate agent to sell your flips-you can share this episode & Tim’s contact info as a resource they might use in selling your house at a higher price. Think about it-if a buyer doesn’t need any money down-or any seller credits for down payment assistance, that money stays in YOUR pocket. Worth noting-this no money down strategy is only applicable on Owner Occupied residential property.

 

    

Dan Breslin: This episode was created for you. Agents and buyers obviously benefit by knowing how to buy a house with no money down and fix-and-flip investors also benefit because they can offer the buyers of their projects—the houses they’ve fixed to flip—the option of no money down or certainly very low money down financing. That’s the topic today.

And if you’re flipping houses and you use a real estate agent to sell those flips, I suggest that you share this episode and Tim Padavic’s contact info at the end as a resource that they might use in selling your house at a higher price. Think about it. If a buyer doesn’t need any money down or any seller credits to cover closing costs or down payment assistance, the money stays in your pocket. I’m not getting paid for this. Tim’s not kicking me anything back. I just know Tim from my network. He’s a valuable resource for me on my flips and he is licensed in all 50 states so I invited him to come on the show as a value-add to you, the valued member of my network.

Worth noting here before we get into the interview, this no money down strategy is only applicable on owner-occupied residential property. So, this is for owner-occupied properties. Tim, this episode, we do not discuss investor financing on this episode. Tim does not even get into investor financing. He specializes in homeowners looking to buy houses in which to live and that’s where the no money down financing mechanism that we’re going to discuss here today works. Ready to get started? Tim Padavic, welcome to the REI Diamond Show.

Tim: In regards to how I get started, in ’98, I got started brokering loans. We actually did most of our business in the refinance and remodel business. We helped rehabbers remodel homes for the homebuyer or the homeowner and we would lower their payment and get them their home improvement, all the way until about 2008 when the collapse happened and then I’ve been doing purchases ever since.

And most of my purchases, if not all of them, my specialty is people getting into their home either for the first time or maybe a move. They don’t really work with investors or second homes or anything like that. It’s not that I wouldn’t it, it’s just not my specialty. My specialty’s getting people into homes. People who are looking for a possibly a rehabbed home or upgrading to a rehabbed home. Something that is real nice for them to move into and the south side of Chicago has been a key focus of those rehabbed homes and the price points are right and some of the programs that we have available tie in really nicely.

 

Episode Sponsored by the Deal Machine:

Driving for Dollars Software to Build a Team of Drivers, Manage Routes, & Even Automate Marketing.  Free Access at  http://REIDealMachine.com/

Resources mentioned in this episode:

www.TheFederalSavingsBank.com

 

Tim & I Discuss Buying a House with Low Down Payment:

  • How to Access Grant Money for Down Payment

  • Income & Debt Levels to Qualify

  • How to Get Offers Accepted in this HOT Real Estate Market

  • Importance of Beginning the Mortgage Process Now


    

Relevant Episodes: (There are 188 Content Packed Interviews in Total)

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.

Reverse Wholesaling with Kent Clothier of REWW

 

Episode: Reverse Wholesaling with Kent Clothier of REWW

 

Guest: Kent Clothier is the Founder & CEO of Real Estate World Wide and creator of the Boardroom Mastermind. Kent has purchased & sold more than 5,000 properties since 2005.

Big Idea: “If I had to go make $100,000 this month, what would I do?  Whatever the answer to that question-why aren’t you doing it?”  Kent prompts his own further success asking this question of himself often.  Kent asked me this question about 10 years ago, and my answer was Diamond Equity.

In 2020, Fannie Mae & Freddie Mac reported originating approx. $4.1 Trillion in mortgage loans.  No doubt, we have all witness a very vibrant & hot market.  They have forecasted $2.7 Trillion for 2021, most likely due to the low inventory situation.  How can you position yourself to profit from this constrained market?  Kent & I discuss this and other trends on this week’s episode.

 

    

Dan Breslin: Welcome to The R.E.I. Diamond show. I am your host, Dan Breslin, and this is episode 185 on reverse wholesaling with Kent Clothier of REWW. If you are into building wealth through real estate investing, congratulations you are in the right place. My goal is to identify high caliber real estate investors and other industry service providers, invite them on the show, and then draw out the jewels of wisdom. Those tactics, mindsets, and methods used to create millions of dollars and more in the business of real estate.

Today’s guest is Kent Clothier, the founder and CEO of Real Estate Worldwide. Real estate worldwide, also known as REWW, operates three core units. First is the Academy, the online education platform. Second is S.M.A.R.T., an online real estate investor data source, and the third is the Boardroom Mastermind, and Kent is a real estate investor first and foremost, and having purchased and sold more than 5,000 properties since 2005.

So, today’s episode is one that I have personally been looking forward to for years, almost since I started the podcast. Kent is one of the early single-family real estate investor thought leaders who I personally paid attention to. We are talking 12 years now. And during the episode, you are going to hear my personal experience with Kent, including some watershed moments of my career, some like real big turning points that led me to where I am today, and those moments were spurred by ideas that Kent shared way way back in my career. And he also shares them again in a few moments. Ready to roll?

Dan: All right, cool. Welcome to the The R.E.I. Diamonds Show. Kent, how are you doing today?

Kent Clothier: I am doing good, brother. Thanks for having me.

Dan: Yeah, for sure. Appreciate you blocking out the time to be with us. Just so the listeners who might not know who you already are, can you give us the background how you got started in real estate and what your primary business model looks like today?

Kent: Yes. So, I have been doing it now for 18 years. Got started in the industry back in December of 2002, started wholesaling a few houses, got really good at it over the years. Started flipping, started wholesaling hundreds of houses a year down in South Florida. Before I knew it, we turned it into a turnkey operation back before that phrase even existed, and that company still operates today. My two brothers and my father run it based out of Memphis, Tennessee, it is called REI Nation. We basically turnkey about 800 properties a year in nine different cities, managed about 7,500 properties for our investors. So, it is our kind of primary real estate core business there. And on the flip side of that, I have been in the training education software space showing other investors how to do it for the last 15 years. And so back in 2006, I started a company called Real Estate Worldwide. Started showing people kind of what I had figured out, which was a process called reverse whole selling, and put together a lot of tools to show people how to be really successful at it, and happy to say that we have had about 60,000 people go through our education over the years now, a little over 60,000. And the latest and greatest thing that I am personally working on as I am out here really kind of evangelizing that now is the time to really start getting into the seller financing space just because of all the things that are happening in the current real estate market.

 

Episode Sponsored by the Deal Machine:

Driving for Dollars Software to Build a Team of Drivers, Manage Routes, & Even Automate Marketing.  Free Access at  http://REIDealMachine.com/

 

Resources mentioned in this episode:

www.KentClothier.com

 

Kent & I Discuss Current Real Estate Investor Trends:

  • Reverse Wholesaling

  • The Extraction of $1.4 Trillion from U.S. Real Estate

  • How to Profit from that Capital Extraction

  • The Time is Now-Where it Came from


    

Relevant Episodes: (There are 185 Content Packed Interviews in Total)

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.

Motivated Seller Leads from REI Radio Advertising with Chris Arnold – Real Estate Investor

 

Episode: Motivated Seller Leads from REI Radio Advertising with Chris Arnold – Real Estate Investor

Guest: Chris Arnold is the co-founder of COSA Investments, one of the largest wholesale companies in the DFW Metroplex.  Chris’ primary source of motivated seller leads is radio advertising.  With that experience, he recently launched the REI Radio coaching program.

Big Idea: “Radio is the Marketing Channel that Everyone Knows About, but isn’t Using”  Chris and I discuss how to buy radio advertising to generate motivated seller leads.  Buying radio ads is like buying fix & flip real estate deals.  You simply cannot pay retail and make it work.  The money is made in the buy.

The REI Radio strategy that Chris tested & produced provides the entire framework for building a radio advertising program to generate distressed seller leads.

 

  

Episode Sponsored by the Deal Machine:

Driving for Dollars Software to Build a Team of Drivers, Manage Routes, & Even Automate Marketing.  Free Access at  http://REIDealMachine.com/

Resources mentioned in this episode:

www.WholesalingInc.com/reiradio

Chris Arnold & I Discuss REI Radio:

  • Buying Radio Ads is Like Buying Investment Real Estate

  • The “MLS” for Radio Advertising

  • Major Mistakes I’ve Made in Radio

  • Initial Budgets Lower than You’d Expect. A lot lower.


  

Relevant Episodes: (There are 182 Content Packed Interviews in Total)

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.

How to Find Off Market Real Estate Deals with Zack Boothe

Zack Boothe-Salt Lake City Utah Real Estate Investor

Finding Off Market Real Estate Deals Can Lead to Untold Riches

Real Estate Investing is a transactional business. You have to have a source of deals. Better still is a source of Off Market Real Estate Deals that you can buy, renovate and make a profit. DFD Mastery founder Zack Boothe joins me on this real estate investment podcast to discuss his method of finding investment property.

Zack has a history as a long term real estate investor. His primary strategy was to buy rental property and lease to Section 8 tenants. You probably know of investors following this same strategy. He found that over time he didn’t really make much money on his portfolio. Tenants caused damage and the yearly property inspections racked up repair bills. Maybe you can relate.

Zack made the transition to becoming THE SOURCE of Real Estate Deals in his market-Salt Lake City, Utah. Since he controls the deals, he gets to set the terms and prices of his deals. Some get wholesaled to other investors and he collects a fee. Others route to fix & flip partners who step in, fund the deal, do all the work, then split the deal 50/50. Can you see how this sets you up to become rich?

Free Access to the REI Deal Machine Software Mentioned in Zack’s Strategy:

To Access the REI Deal Machine Free, go to www.REIDealMachine.com .  Many of the high volume investors around the country are using this software to develop the highest ROI Mailing List in the market.  The best part?  NO ONE has access to the list EXCEPT YOU!

 

  

 

Here’s How to Find Off-Market Real Estate Deals & Get FREE Access to his unique software for Driving for Dollars

Investing in real estate can be a great way to make money. However, it’s not a simple process. Not only does it involve buying, owning, managing and renting or selling property, but you have to compete with other people to get that property in the first place.

One of the best ways to make money through real estate investing is through off-market real estate deals. These properties aren’t listed on the market, but can still be bought and renovated to earn a profit.

You might be wondering how off-market real estate investing works. DFD Mastery founder Zack Boothe joined me on this to break down the exact process and demonstrate how you can earn big bucks from it.

Real Estate Investing

To really appreciate the advantages of off-market real estate investing, it’s helpful to look at other forms of investing, such as renting properties.

Renting properties out to tenants can be a great way to make some extra money. However, it also comes with a slew of disadvantages. These include:

  • Taxes
  • Tenant problems
  • Lots of involvement

Renting property out isn’t easy on the taxes. As the owner of that property, it’s up to you to pay property taxes, insurance and homeowner’s association fees.

Another problem with rentals is tenants; there’s no guarantee that a tenant will pay the rental fee on time, and missed payments can seriously cost you. Not to mention that tenants can inflict damage on your property and hide it to avoid paying costs. Finally, owning a rental property involves a lot of active involvement. You’ll need to make yourself available to tenants to address any issues that come up.

Wouldn’t you rather earn money through real estate without having to worry about these issues? Believe it or not, there’s a way you can do that.

Zack Boothe

Zack Boothe has been in the real estate investing game for years. He started by buying rental properties and leasing them. However, he soon discovered that this wasn’t the most lucrative method; the required property inspection bills and damage caused by tenants put a dent in any turned profits.

Zack transitioned from renting properties to becoming one of the top-earning Utah real estate investors. As the source of Salt Lake City real estate deals, he controls the terms of deals, including prices. If a property is wholesaled to other investors, he collects a fee. If it’s sent to fix & flip partners who perform all of the renovations, he still gets 50%. By now you’re probably wondering: how do I get started?

Driving For Dollars

Zack Boothe started making more money by transitioning to off-market real estate deals with driving for dollars, or DFD. This involves finding distressed properties, or properties that are about to be foreclosed or already owned by the bank. These properties can be bought for a low price, then repaired and sold for a profit.

The phrase “driving for dollars” comes from the method; it involves physically going out and looking for distressed properties. Since these properties aren’t listed on the market, there’s no easy database to help you find them. However, there are signs you can look out for, such as boarded windows, a messy yard and just a general lack of maintenance that indicates the home is not lived in.

If you’ve found a distressed property, the next step is to record the address and information about its condition. Once you’ve done that, you’re going to have to access public records to find out information about the property. This includes:

  • Who owns the property
  • If the property is set for foreclosure
  • When the property was sold
  • Owner’s mailing address

All of this information helps you determine how to contact the homeowner and whether or not you should even bother to reach out to them in the first place. For example, if a property was bought very recently, they’re probably not interested in selling.

Nobody said earning money through off-market real estate investing would be easy. Finding distressed properties that you can earn a profit off of can take ages, and that’s just the beginning of the work you’ll have to do. Fortunately, there are tools to help.

Deal Machine

With typical real estate investing, you have to sort through thousands of emails and letters before striking a deal. By driving for dollars, you can get a deal after canvassing just 200 homes, making it a more efficient way to earn money. Not to mention, canvassing is cheaper than mailing.

At this point, if you’re interested in real estate investing, then trying out the driving for dollars method is a no-brainer. Who doesn’t want to make more money faster? The problem is, it’s not the simplest or most straightforward procedure when you’re starting out. DFD requires knowledge about properties and the ability to canvass properly.

On the podcast, Zack Boothe told me all about the software he uses when driving for dollars: DealMachine CRM. This special software is what Zack uses to track, manage and market his driving for dollars strategy. It’s free up to 50,000 properties and greatly facilitates the process for you.

Learn From Experts

If you’re looking to get involved in off-market real estate investing, the first thing you should do is hear what an expert has to say on the subject. Check out my podcast to hear Salt Lake City investor Zack Boothe’s insight into dollars for driving, which includes advice on what to do and what software will help you be successful in the business.

This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/

Resources Mentioned in this Episode:

www.REIDFD.com

Zach & I Discuss:

  • Finding Off Market Deals in Salt Lake City, Utah

  • Partnering with Flippers for a Large Piece of the Action

  • Prime U.S. Markets for Wholesaling OR Fix & Flip Deals

  • How to Get the #1 Highest R.O.I. Mailing List in YOUR Market


  

Relevant Episodes: (There are 178 Content Packed Interviews in Total)

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.

REI Diamonds Show with Adam Doran on Cold Call Mastery for Sellers, JV Partners, & Private Lenders

Private Lenders

Adam & Dan Discuss:

  • A Police Officer’s Story About Posting Bandit Signs!! (Adam is a Police Officer)

  • The Best Script to Use When Cold Calling Sellers

  • 3 Rock Solid Book Recommendations

  • How to Use Linked In to Build Relationships with Buyers, JV Partners, Deal Sources, & Private Lenders

  • PLUS-Special Access to MY Personal Business Plan (Dan Breslin’s Bonus)


Listen Now:

Google Play

 stitcher

Resources Mentioned in this Episode:

Connect with Adam on Linked In:

https://www.linkedin.com/in/adamcoaches

 

Most Popular Episodes: (There are 63 Content Packed Interviews in Total)

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Or Maybe they’re Trying to Become a Real Estate Investor?

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

 

REI Diamonds Show with Phil Falcone on How to Become Rich in Commercial Real Estate

Commercial Real Estate

Phil & Dan Discuss:

  • Cap Rates & How they Affect Price

  • Thinking About a Piece of Real Estate as a BUSINESS

  • Changing the Rules of Monopoly & then Playing in Real Life

  • Knowing How to Identify a REAL DEAL


Listen Now:

Resources Mentioned in this Episode:

Sign up for free at his website www.Addicted2realestate.com

 Recent Popular Episodes

Do You Know Anyone Else Who’s a Real Estate Investor?  Or Trying to Become a Real Estate Investor? Do You Think they’d Also Enjoy this Episode?

Send them this link and tell them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.


Leave a Reply & Remember to Mention Your Geographic Market.

REI Diamonds Show with Jim Zaspel on Growing Your Real Estate Business from a Hobby to a Massively Productive & Profitable Business

Real Estate Business

Jim & Dan Discuss:

  • Growing Your Real Estate from a Hobby to a Business
  • 4 Things You NEED for Rehabbing Houses & How to Get Them
  • Productivity & Time Management Technique for Rehabbers
  • Free Rehabbers Checklist (Link is mention about 45 mins in)

Listen Now:

Recent Popular Episodes

Do You Know Anyone Else Who’s a Real Estate Investor?  Or Trying to Become a Real Estate Investor? Do You Think they’d Also Enjoy this Episode?

Send them this link and tell them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

REI Diamonds Show with Peter Vekselman on High Volume Investing & Retail Brokerage

Working Seller Leads

Peter & Dan Discuss:

  • Lead Generation Partnerships
  • Converting “We Buy Houses” Leads to Listings
  • Running Multi-State Real Estate Businesses
  • Generating as Many as 1,000 Seller Calls in One Day!

Listen Now:

Recent Popular Episodes

Do You Know Anyone Else Who’s a Real Estate Investor?  Or Trying to Become a Real Estate Investor? Do You Think they’d Also Enjoy this Episode?

Send them this link and tell them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.


Leave a Reply & Remember to Mention Your Geographic Market.

REI Diamonds Show with Engelo Rumora on Building a Multi-Million Dollar Turn Key Rental Business

Turn Key Rental Business

Engelo & Dan Discuss:

  • The Importance of Team Selection
  • Engelo’s Favorite RE Developer
  • 3 Steps to Correctly Networking
  • “Rags to Hustle Your A** Off” Story

Listen Now:

More Info About Engelo Rumora at:

www.OhioCashFlow.com

Engelo’s Facebook Page:

https://www.facebook.com/TheRealEstateDingo/

https://www.facebook.com/engelorumora

Recent Popular Episodes

Do You Know Anyone Else Who’s a Real Estate Investor?  Or Trying to Become a Real Estate Investor? Do You Think they’d Also Enjoy this Episode?

Send them this link and tell them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.


Leave a Reply & Remember to Mention Your Geographic Market.

Brian Meara-How to Wholesale Short Sales in the New Economy

how-to-wholesale-short-sales

Brian Meara & Dan Breslin Discuss:

  • How to Hand Pick the BEST Short Sales
  • Another Surge in Short Sales??
  • How to Keep 30-40 Deals in the Pipeline with a Marketing Budget of $0!!
  • How to Receive Your Fee on the HUD without “Assigning”

Listen Now:

More Info About Brian Meara:

www.InvestorEntourage.com

Relevant Popular Episodes

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Interested in Receiving the Saturday New Episode Notification Email?

I’ll Even Give You Access to 3 Valuable VIP FREE Gifts Right Now for Siging Up:

  • 7 Sources of Off Market Deals-7 Strategies to Position Yourself in Your Market to Receive a Phone Call BEFORE Anyone Else Knows About the Deal.
  • The Atomic Buyers List-This MP3 Reveals the Methods I’ve Used to Quickly Sell 25 Deals Per Month for the Most Profit.
  • Become a Wholesale Real Estate Master-164 Page Manual which Contains the Exact Strategy I’ve Implemented to Generate those 25 Deals Each Month.

 

Go to www.REIDiamonds.com & Claim Your VIP Free Gifts Now


What’s Your Recent Experience with Short Sales in Your Market?

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