Welcome to the Get Traction Podcast, a show aimed at educating aspiring real estate entrepreneurs. Today, Tom welcomes to the podcast real estate investor and broker, Linda Locasio, who explains lease options, how to set up resale prices with a buyer and the average profit she makes on an investment. Linda goes into detail about how she operates as a real estate investor and key insights and lessons she’s learned throughout her entrepreneurial journey.
Key Takeaways
- 00:40 – Tom introduces today’s guest, Linda Locasio who joins the show to share her experience as a real estate investor and broker
- 03:59 – Lease options explained and how Linda operates as a real estate investor
- 12:29 – Setting up a resale price with a buyer
- 20:11 – How much profit Linda makes on the average property
- 25:49 – Linda reflects on her experience as a single, independent investor
- 27:59 – The role marketing plays
- 30:16 – The secret to getting paid
- 39:01 – Advice Linda would give to beginner, intermediate and expert investors
- 47:26 – Seeking deals out everywhere
- 53:04 – Tom thanks Linda for joining the show
Tweetable Quotes
“The big thing to remember here is banks don’t want real estate. They’re not in the business of owning real estate. Banks are in the business of loaning money. That’s what they want. They don’t want to be a land lord. Banks want money.” (10:01)
“These people don’t care about the purchase price. They care about the monthly payment. So, it doesn’t matter for the most part. But when the appraisal man comes knocking at the door, he really determines what the sales price is gonna do.” (13:57)
“Most of the ones I buy are what I call ‘Bread & Butter’ properties. I don’t want anything that’s real high priced and I don’t do the slums.” (20:32)
“You know what it all comes down to is marketing. If you know how to market, you can sell or buy anything. If you’re on the market for properties, then you need to market for them.” (28:49)
“Go out and know that you’re gonna get ten ‘No’s’ today or tomorrow. You want to get your ten ‘No’s.’” (39:40)
“The more you have, the more you have to be accountable for and take care of.” (51:34)
Links Mentioned
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