House Money Weekly
In this week’s House Money Weekly segment, Lauren and Alan discuss blog 150 - The BROKE Method to Buy Real Estate with No Money. Alan figured out a way to buy more than $30 million in real estate without using his own money. It sounds easy, but it's actually a lot of work. He came up with the "BROKE Method" to explain how he does it. The "B" stands for Big Deal Finder. This means there's a lot of money involved or you can make a big profit, but you have to bring something valuable to the deal. Once you find a good deal, it's easier to get money and find partners. Being good at finding these big deals is the first important step. The "R" stands for Reputational Pull. Having a good reputation not only attracts people who want to invest with you but also attracts opportunities that aren't available to everyone. Alan's reputation comes from owning small multi-families in Atlanta. He lets people know that if they ever want to sell, they can come to him. Whatever you're good at, make sure people know about it. The "O" stands for Ongoing Outreach. You can't just tell people once what you're looking for. You must keep updating them and keep talking to new people. The "K" stands for Knuckle Up Ability. Since Alan isn't using his own money, he must work hard instead. He might have to manage workers or do tough jobs himself. The "E" stands for Execution Option. Not every plan will work perfectly, so you need to have backup plans. Alan likes for each deal to have 3 ways it can make money. Being flexible and having different options is key.
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Mortgage Minute: Jasmine answers the question: How often does the lending quote change by the time you get under contract?
Sponsored by: Jasmine Mortgage Team https://www.jasminemortgageteam.com/
Real Estate Is Easy Segment
Lauren interviewed Kelly Koontz, CEO of Submeter Solutions in Seattle. His company specializes in submetering and utility reco
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