How to Invest in Real Estate Using None of Your Own Money – Episode #441
Today you’re going to learn how to invest in real estate using none of your own money and no JV partners. My guests are Mel and Dave Dupis, creative funding experts who have a mix of all types of commercial and residential properties. We will also dive into scaling your business, exit strategies, mindset and so much more.
[00:00 – 06:54] – Mel and Dave's Intro to Real Estate
- Started out working multiple jobs and buying properties traditionally
- Discovered they couldn't grow quickly enough saving for down payments
- Interviewed successful real estate investors and created a plan
[06:55 – 22:32] – Types of Creative Financing Strategies
- Favorites are seller financing (carrybacks) and using self-directed retirement funds
- Seller financing allows flexibility to meet seller's needs in exchange for purchase financing
- Self-directed IRAs / 401Ks can be used to fund real estate purchases
- Promissory notes help cover deposits, down payments, rehabs, and closing costs
[22:33 – 31:34] – Building the Right Real Estate Team
- Property managers are key for finding pocket listings from sellers
- Investor-focused real estate agents understand numbers and creative finance
- Ask probing questions to vet real estate team members' experience
- Managed their own properties at first to understand property management
[31:35 – 36:14] – Buying International Real Estate
- They've purchased properties in the U.S., Canada, and Costa Rica using creative financing
- With the right team, can quarterback international deals from anywhere
- Made over $100K on a Costa Rica deal with no money down
[36:15 – 46:26] – Avoiding Common Investor Mistakes
- Don't overspend or inflate your lifestyle before long-term wealth is built
- Prioritize property purchases over luxuries in the beginning
- Have a budget and savings buffer for unexpected expenses
- Maintain oversight and understanding even with property managers
Get In Touch With Mel & Dave:
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