Flipping America 498, No Money Down
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Today we are going to talk about \\u201cNo Money Down\\u201d deals. And my guest Henry Washington has a source that took me a little bit by surprise.
His inspiration to become a real estate investor was born from a panic at night. He married his wife Jessica Washington after knowing each for just one year, and he knew that he couldn\'t afford the future that he felt his wife deserved. This is after they had conversations about their future home and kids. Currently, they are blessed with an amazing 2-year-old daughter and Jessica is pregnant with their second child.
In our conversation I asked Henry how he got into real estate investing and you\\u2019ll hear his story in a little while.\\xa0
How to contact us
www.RogerBlankenship.com. Leave a voicemail right from the home page!
Facebook.com/flippingamericamedia
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Call our National Comment Line: 877-55-ROGER (877-557-6437) \\xa0 ext 1. Leave your message or your question.\\xa0
Sponsors
American IRA: www.americanIRA.com
Flipping America Funding : Get the money you need for your business, for your training, for infrastructure, and for your projects. Flipping America Funding is your one-stop shop for all of your business funding needs. FlippingAmericaFunding.com.\\xa0
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Announcements:
- Flipping America Funding is live! Monday May 16th.\\xa0
News and Resources:\\xa0
- Our friends at MillionAcres.com tells us how to buy property with no money down: https://www.millionacres.com/real-estate-investing/rental-properties/6-ways-buying-rental-property-no-money-down/
- Very basic info on no money down buying. Ignore what they say about assumable loans. They virtually do not exist. Subject-To purchases are possible everywhere, but this story doesn\\u2019t cover them. https://themortgagereports.com/59359/invest-in-real-estate-with-little-or-no-money-down
- Mashvisor is usually a good resource - as in this read: https://www.mashvisor.com/blog/buying-rental-property-with-no-money-down-10-ways/
- Another good source for \\u201cno money down\\u201d advice: https://www.noradarealestate.com/blog/invest-in-real-estate-with-no-money/
Questions from Listeners: starr ask\\u2026\\u201dwhat would roger do\\u201d
- Evangelina, Baltimore, MD, \\u201cI understand the MAO formula. But I can\\u2019t find any deals that fit that number. Several of my friends are buying above the price that formula recommends and they seem to be doing ok. Can you explain some of the reasoning behind it?\\u201d
- Roderick, Tampa, FL, \\u201cI want to buy rental properties. It seems like if the property has $200/month or more in positive cash flow I should be fine. But one of my friends said I should check with you. No offense but I had never heard of you until now. Am I missing something here? $2400 a year is good money and with 10 of those I can quit my job.\\u201d
- Stephen, Boulder, CO, \\u201cCan you explain the difference between cap rate and cash on cash return? What should I be looking for when buying a single family rental?\\u201d
- Sherry, Sebring, FL, \\u201cWhat are the key steps when buying a flip project in another town?\\u201d
- Lynetta, Jackson, WY, \\u201cWe want to bounce back and forth between Jackson and Austin, TX, you know, avoiding the weather extremes but getting in some skiing when we want, etc. We are both in our mid 50\\u2019s and our question is should we buy something in both places or just do longer-term rentals? We could pay cash for both places, but can\\u2019t help but wonder if our cash is better off elsewhere.\\u201d
- Rhonda, Milwaukee, \\u201cEstimating a rehab is overwhelming to me. I just don\\u2019t know where to start. Please help.\\u201d\\xa0
Motivational Quote:
One of Henry\'s favorite quotes is "imperfect action is better than perfect inaction." Harry S. Truman.
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