Welcome to the lifestyles unlimited real estate investor radio show the real estate investment program. Listen and learn how to use real estate to build wealth and passive income streams for you when your family. We bring you expert Jeffrey. 600 plus unit apartment complexes. And now the lifestyles unlimited real estate investor radio show. Morning and welcome to the lifestyles unlimited real estate investor radio show on your coach Steve Davis ware as always we're here talking about your financial freedom your financial independence. Making the argument that financial independence is not an option it's a requirement. And this is all around the world if you look at people who retire successfully. They have one thing in common. They have. Income. They have income. There's a very very small small percentage spell one and a half percent. That you saved their way to retirement. But here's the problem. That's the business model of 95%. Of the people. Yet only one point 5% of them. Achieve it. What I'm referring to use the fact that 95%. Of Americans failed to retire by age 65. Only 5% succeed and many of them retire way to force 65. The good news is you can analyze what they're doing. And when you look at those people. Today seventy plus percent of them owned businesses and real state. Businesses and real state and that's what this show was about. It's about the effective business model that is income producing real estate. And I have to go over what investment real estate is not this morning. Because I got an email. From a very short individual. And who had. Totally. Ineffective strategies. For. What he called investing. In real state. What this individual was doing. Was he was taking. He is he's not going to many more casinos of the show and thank god it. But he was going on in paying full price for real slick. He was going on in buying 150170. Tells lower homes for a 115170000. Oaks. In what he was doing his leasing them now and waiting for them to go up and down here. And that was how he thought. He was gonna build wealth for yourself in this fame. But let me tell you that is not investing. That is speculation. That's no better than the stock market. Is just speculation. Your buying low to sell hard. That is not what investing in real state is all about. We are buying properties. 101020030040000. Dollars below market. That's after rehab closing costs and holding costs in other words hallway and we're picking up on them and just don't go with the average in my last few deals 25000. Dollars equity that day we closed the deal. We're not waiting for its go up and down you were buying it below value. The end. These things because we buy them so far below their value. They throw off positive cash flow. Where is his deals were all breakeven. In other words if you leads to for 15100 dollars a month. His principal interest taxes and insurance maintenance and management. It was 15100 dollars a month. He wasn't making any cash flow off the property. Again. His thought. Was that you buy them and wait for them to go up in value and and you sell them and that's how you make money. He's going off to the fact that real estate doubles in value about every twenty years. But again that he is speculation. You're not it's not investment the way that we do it. See we're buying these 175000. Dollar homes. For a 150. That's all him again. Purchase price rehab. Closing costs and holding costs. Everything you know 102 degree. But it's worth one semifinal. Were picking up 25000 dollars equity that they we close the deal. But here's the difference. Cash flow wise. We're making somewhere between 30600. Dollars a month profit. Every single month that we own that property. Now the other reason. Why he was breakeven. Was he didn't know what he does do. He didn't rehab properties up front. He didn't know that the tenant is responsible for probably 90%. Of the maintenance on the property. He didn't know to make 210 and responsible. For the first 250 dollars and any repair that they're not responsible for. So he had to completely. Wrong. Strategies. For investing in real state and as a result he got no results from it. See what we're talking about is building passive streams of income. This is something that was talked to us 3000 years ago the Babylonian. Really get the credit for discovering this I'm sure people discovered before they made it famous. That is a point that they made. Is that. Financial. Money wise. Life is a two pronged attack. There is your earned income. Where you trade your time and money. And then there's your investment income or passive income more business income. In those two run parallel to each other if your doing life right. But here's a question. If you quit your job tomorrow. You know let the work. You get fired laid off quit. You're not allowed to touch your savings either of our. How much money do you have coming in every month. For most of you the vast vast majority. Or we can say that none of 5% is probably pretty accurate. For 95% of you. The answers I have zero money coming NC forty even talking about Michael my job I don't make any money. That's wrong. That's an in an effective business model. But then you would argue but that's what I was taught. From the time I was old enough to walk. That the way you become. Independent. You should get a job you pay your own bills. At the end you live off the money that you get from your job. And that's the only source of income that you have now but that is completely wrong. You're supposed to have two sources of income. Christmas discrepancies. And by income producing assets that produce cash flow for you and your Finley for the rest of your lives. In the gold for the average person is about 8000 dollars a month. One or say that because the bills for an amber extremely in the United States or 4000 dollars a month to couple car notes and house note. Garbage gas electric food. 4000 a month if you got 8000 moment that means you have 4000 for bills and 4000 dollars for fun. For romance for travel. It's pretty good quality of lifestyle. Now combined net with the wisdom of keeping your job. And let's say you make 5000 dollars a month that your job. Now you've got. What's for thirteen thousand dollars a month. How different would your life be. If you could use that business model and over the last ten years. Had bought yourself twenty houses. That British jury thousand dollars a month cash flow. It's totally different isn't. Totally different scenario. And noon how about this because peace is important. We do not have peace of mind. That's your job. If you knew that if you lost your job. Your bills were paid. He never had a word on. But if they came in and shut down your part of the company. Fired everybody. You'd still be in great shape. For example I'll give you back in 20082000. Moon. One of our members who have bought twelve or thirteen rent houses. Walked you know and to his office. Where a supervisor was there he fired everybody. Shut down my whole office. I think it was twelve people. In the office just start everybody. Downsized let him go whatever you wanna call fired everybody. Do you love and people started crying. Whining. Complaining. And one person just grabbed cardboard box and sort of pack and a third us. You can guess who that twelfth person months. And it was all remember our student. Because he knew. Did there was no way to convince them not to close to accompany. The it was just. It's your job. It's just stupid to sit there crying and arguing about it. But he knew that the income from here is to over thirteen rent houses. Pay all the bills. That is peace of mind. And that is what we're doing and what you can do if you get yourself educated. You start saving. And you start investing in income producing assets. Now what I wanna talk about today is something we begin a discussion of on yesterday's show if you're not familiar. We are on seven days a week there's two different shows Fidel wants and radio show my mentor show and of course the show whose real estate investor. Radio show you can find out about all of the radio shows by going to life cells unlimited dot com. Myself some limited dot com and clicking the radio attack. If you got a question for me here's the phone number 8777115211. 877711. 5211 thanks for us. Lifestyle some limited is the real estate investor education and mentoring group that is taking people by the hand and taught them how to invest in real state for over 24 years our students have been so successful at creating wealth and passing thing found that they won local state and national investor in the year awards nine of the last nine years it's easy to see quite personal real estate investor magazine named as the best in the US if you're ready to add real estate to your portfolio go to lifestyles unlimited Austin dot com to access our free live training events scheduled. Wondering who the free workshop is for we did amazingly successful with people who are pressed for time. Doctors lawyers small business owners and corporate professionals. Who are grinding their lives away four earned income and don't realize they can start creating passive income today. Within that confines of their schedules and commitment. Want to get started now go to my passive income workshop dot com that's my passive income workshop dot com me. Experienced agent of deception took power of Nazi propaganda and a brand new exhibit now on display algo bullet museum in the state of deception as an interactive feature that explores Nazi propaganda including rare artifacts historical footage and first person interviews empowering for all allegiance to the exhibition emphasizes what the issue of propaganda matters and inspires visitors to search for truth experienced data deception all on you know until Bullock Texas State history museum more visit the story of Texas dot com. Tension attention couples we're here to celebrate the 125. Anniversary of Samuels diamond. Sandals diamonds has an incredible deal for all of you were celebrating your own special occasions he had simple bringing your rivals at and Samuels will give you 145%. Of your senator diamonds value towards your new wedding said Samuels diamond experts will you create a perfect grain from thousands of exclusive settings and certified loose diamond options. 45 years our clients entrusted us to provide the expertise to help you choose from the best selection of loose diamonds and settings for all your special occasions when financing for up to sixty months. Don't forget for a limited time receive 125%. Of your senator Simon's value would you create your new bridal yeah. Diamond experts who won three Samuels diamonds locations in the long frontier shopping center in round rock gateway shopping center in Austin or in sunset valley or visit online at Samuels diamonds dot com. Hi this is. Jason Hawes co signers and I'm Stevie Johnson from Chad spare magazine did you hear the news a new overnight paranormal adventurers on talk thirteen seventy. It's beyond reality radio Monday through Thursday nights at eleven when we talk with you about everything paranormal ghosts zombies bigfoot the afterlife aliens you get the picture interviews your calls and discussions for our chat room and FaceBook page. Beyond reality radio Monday through Thursday nights at eleven on talk thirteen seventy. Are you business owner looking to reach more than 90% of the population between their did you know that more people get their news and information from radio than any other form of media then why not take advantage of you. Amazing location where advertiser meat audience. Advertisements are thirteen seventy you're talking thirteen seventy we're ready to offer solutions to see your advertising and marketing needs listener you see your business to our great listeners come. 5123296233. And find out why talk thirteen seven it's the right choice for you and it's time once in 3296233. Some might very show I. I have an all full voice it's amazingly I got a deep east Texas twang to those born in Houston went to law school at University of Texas and live in Houston now and our team is due to talk thirteen seventy shows a little different we're gonna talk politics of course we're also gonna talk about Texas and I am a redneck we're gonna talk about redneck stuff printed about NASCAR and country music Milledge O'Shea revered tragic ends Michael Berry show. Weekdays at five on talk thirteen seven to the right choice to. Thirteen seventy. Real estate investor radio show again. Found this online lifestyles unlimited dot com from podcast shows and things like that. Now you've got a question for me please join me now don't worry about the subject matter that uncovering. We're going to be addressing fear in the little bit of the ego. And how those two things. Hold us back from achieving our goals but if you've got a question about any thing to do with single family houses. Tinian and apartments 800 unit apartment complexes. Give me give us 8777115211. That's 87771152. Do you love it. You're also welcome to email me. My email list ask Steve. That they'll view Ollie and C dot com ask Steve had told you I NC dot com or at your question live on the air. If I run out of time election you know you myself. And we'll get that question be answered and don't if you feel like you got a dumb question or your little shot used a fake name. But give me about us 877711521187771152. You love him. So. These two points. Then I'm gonna make during the show today are very closely related. And it it's it's a very personal for me because I had massive. Massive. Fear. When I first started investing in real steady literally. In the big one for me has turned out to be the biggest one. For all the members of lifestyles and women and hence the fear of literally other people. Whom are referring to tenants. It was my fear. That I wouldn't be able to leases. It was my fear that I wouldn't be able to collect rent on time it was my fear that tenants would destroy my property. And these fears paralyzed me in place. So much so that even and after I learned the complete business model and all the best practices to deal with those fears. I still didn't find any rental realistic. The first three years that I was lifestyles and limited. As a member and student I did nothing but wholesale and flip. Wholesale and flip flip flip flip Olson also also. And never. Started building. During that three years. Beanie Wells for myself from unseemly and certainly no cash flow. The end I had a all the resources you can imagine psychologically. I have written a book after book on fear. The end even studied the work of zig ziglar who probably has the best explanation of fear I've ever heard them and assure that which you. But. What I want you thinking about deeply. It is. I called them fears. Some people. A lot of people. Don't call it fear they say it's a concern. It's a worry. It's a problem. It's a challenge. And they don't have the courage. To admit. What it really is. And the problem is that's ego based thinking. And the ego based thinking has a tendency to paralyze you. We'll tell you one other ego. That can eagle point that came up and in the email. A guy emailed me in these he was talking about. Him directly. I guess who's clearly direct. But it. Can never commandment said it. But I could sense it. Does bring up the fact that his wife was against. Him investing in real step. And see what this leads to consume very ego based she. And that fear is failure. The fear of failure. And how is that ego based because it's your worried about what other people think. Your wife. Your neighbors. Your relatives. Your friends. You're worried what they would think review. If you failed. Can see that is that there's no reality to that lets you go place garbage. Who cares what other people think you'd. Not talking about character. That's import. I'm telling him out not living your dreams. Not achieving financial success. Because you're unwilling to take the risk. Because you're afraid if you fail you look stupid. Two relatives neighbors and whatever and their spouses. The paralyzing belief it's destroying. People's lives we'll talk more after the break this is blood cells unlimited boosting investor radio show. Phone lines are open at 8777115211. Michael in Houston I see you on hold at least you holding up when we come back. Break. Long time lifestyles member Curtis Payne. Some real choice for me looking back. Is helping others and I wouldn't be able to have done it without the support of lifestyle ladies can't please thank you enough still for best. If we were there as people that they could vote on the top ten guys. That help other people you'd be one of the viewers no doubt about it if you have. This road mass of cold and success stories on this one I'm just. One person out of left thousands fantastic success stories that each and every person can learn from that's my life. Hey Curtis Haines advice come meet go like minded successful investors who are helping others just like dale helped him. I attend the workshop getting your map. Safely and quickly build wealth and passive income so you never have to worry about working till you drop losing your job or retiring in poverty. Call 18669718970. Or go to lifestyles unlimited Austin dot com that's lifestyles a limited Austin dot com to register for the workshop or change your life. 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This is Al springer encouraging you to listen to the natural underground. Saturdays at 6 PM join us as we need to founders of some of the most amazing natural brands learn of their new products learned of the challenge of the man and celebrated success Saturdays at 6 PM talk radio thirteen seventy. Don't miss the superior physical medicine Thursday night game of the week. And hand off the former home or on the right side and it tries get a blocker a receiver and doesn't ease into the hands off tops out Anderson. They are brutal and that's what ball inside of five and he has been the leaders don't touchdown Aaron green. And it gift to Kevin's best cities across the goal line it's a touchdown for LBJ okay Thursday night at seven. On top thirteen seven lead and fans stand atx dot com. They stay size matters and our opinions are trading big. Maybe they recaptured they should be shot on the take a strong stand yeah. Meanwhile we're gonna take control giving it to you straight we're Austin's home for time to talk to her jeans and indeed. CBS news updates Donald Trump may not have paid federal income tax for nearly two decades New York Times coauthor Suzanne Craig. Felt that the Donald Trump has used the losses start his bankruptcies he had a net in the late 1980s and early 1990 justice system doctors and as a result of those there was a law is created then you're allowed to use those losses in future years Stuart future taxable income which if you can get a 20 means you Cano could. Advisor Rudy Giuliani on CNN if he didn't take advantage of those tax deductions or tax advantages that he had he to be sued. Because he is his obligation. As a businessman is to make money for it for his enterprise rebellion Arab chief political strategist Verizon investment. Certainly help trump may be legal if I might speak at the need for Patrick for a I think that the imagery here in not paying taxes for that long a period charge. Did not help this camp. CBS news update I'm Jim Taylor to talk thirteen seventeen. It's. An extra radio show me how is Steve Davis phone lines are open at 8777115211. That's 8777115211. Let's go straight to the phone lines are gonna go to Houston Texas now. And talked to Michael Michael thanks a lot for calling and how are you today. Aaron don't Bryant could be better better. Well look at that is dedicated to lead acid it. Prince's palace rule. And I'm Brooke that there are edited to. The old girl basket speaker. What a good option then not much pressured or start. Well the key foundation. Yet are you there. Tenure it. Okay. The key to investing in real state is it does require some education. The foundation for a successful real estate investor is to learn the complete business model in this gonna sound weird when I say it. But you need to learn both the single family and the apartment business model at the same time. And the reason there Michael is that people have a tendency to stay in single family too long. They you they bought themselves 1015 Tony houses. And really that's about the time you should sell those houses and moved to an apartment complex. So you wanna learn both business models at the same time. Now did you say you're renting a house now. Don't know how. Eric oh are known in our. Your sorrow secret special live in I. Are you looking for help and then. Yeah the wolf same thing. You know we're having trouble hearing you. Michael. Let me you know he. Dropped you and I'm gonna answer the rest of this question on the ears are just look keep listening to the radio show. Michael one of the first things that most people do this is not a requirement. But what most people do is they bother owner occupant house source they bother principal residence. And if you're renting an apartment if I understood you correctly you're renting an apartment. That is probably going to be your first step is to go out and buying your first house to live it. Then start buying passive income streams. Now again that's a rule there are some people that just say no hello apartment life on staying in the apartment. I'm gonna go straight out and start buying income producing. We'll stay with us on as well. And a person should people do that. But if you're saying no Steve I want a personal residence I want my own home then that's going to be the first step. Now remember this rule. From the Fannie Mae you're allowed to him. Loans. From Fannie Mae and these are the best loans you can get it. They're the lowest. I interest rates the longest term they're just perfect loans so make sure you use of Fannie Mae loan to purchase your home. End. You want to take a course like ours if not a somebody's. On real estate investor. So that you learn how to bide your personal residence like an investment. Where the day you close on your personal residence you make Tony 5000 dollars what I described at the beginning of the show. So yeah that Michael that you're your next step is if you're serious. Which you are you wouldn't call them if you have millions. It is to get educated. Go start taking some workshops. Take some classes. On real estate investing. Then get out there and execute. On what you learn in those classes. As being warned real state is not intuitive at all. It's not something you figure out my trial and error. You need to know the best practices. And know the business model upfront. But yeah I'm all for. Buying your home first then non rent properties. I am by the way so you don't get. You don't think the limit is here and there is no limit is just you're only allowed to have ten Fannie Mae loans. Once you get your tunes you switch to think all the portfolio loan and there's no limit to the number portfolio loans you can have. We have members with over a hundred single family houses all mortgages on them so. Okay phone lines are open at 877711. 52118777115211. Or you're welcome to email me that asked Steve had no UINC. Dot com. Ask Steve and tell you I NC dot com. All right let's get back to our discussion this year. I laid out a very ego based in Europe which is the fear of other people and how they would think about you. If you failed and trying to get the point across that he would he is. You relevant. Don't worry about what other people think and do not let that hold you back. Tell us all your base garbage can can be debilitating and paralyzed and we'll talk more after the break. Here on the lifestyles unlimited we will stay Muster radio shows thanks for most. Did you know that every dollar you put into a piece of real estate makes you money five ways. Cash flow of money in your pocket each month. Equity capture this thousands of dollars you create when you have the right team and by the right property using the right man. Appreciation. Real estate doubles in value about every ten years equity build up. Renters pay down your mortgage each month and finally this tax advantage we pay almost no taxes on our cash flow and capital gains. These are the five ways we make money in real estate. Which is why real estate accounts for more millionaires in the world today than any other investment vehicle you should have some real estate in your portfolio. To learn how attend one of our free workshops call 18669718974. Or go to lifestyles unlimited Austin dot com and register for the next available workshop. That's 8669718974. Go to lifestyles unlimited Austin dot com. If you're retired or retiring soon and your retirement portfolio could not survive a stock market crashed don't miss the free money matters retirement seminar to 7 PM Thursday October 20 hotel grand Duca told 1 PM Friday October when he first Hampton in Georgetown learn to help protect your investments from a bear markets how to avoid making serious retirement mistakes and so much more can mares was featured in MarketWatch clients that followed cans advice were out of the stock market in 2008. Threes are bad money matters dot net that's money matters dot nets. Now the slats of wood fired just in California cuisine with an Italian flair. Lunch and dinner made from scratch bow tie pasta and sauce pizza home made a lot of mistakes tasted amazing salads. Always familiar without being dominant great music complements craft Beers in favor Napa Valley wines by the models or. Or the glass comment in enjoyed a great energy dad is now flats would fire engines locally owned that reflects on how. And 620 concordia. The city of Austin returned to conservation stage water restrictions Paulson water customers now have a more flexible schedule water landscapes and wash cars of Paul the new conservation stage also strengthens long term restrictions to protect our water supply and prepare for future droughts residential customers with the automatic sprinkler systems will water one day per week on their date with the option for a second day using a holds in sprinkler goes using hoses and sprinklers will be given to designated watering days per week to learn more about your conservation stage watering schedule this one was Austin yeah yeah shoes. So Savage Nation. All the big mouth liberals from New York BA we all reparation you all the Murray's running around the Bronx he it will reparations is in the day advance so Murray why did you give up but died when your pocket Murray give up the house Murray Murray give a parachute. Murray isn't gonna give up a parachute Murray won't put a nickel into the preparation work beautifully for. Michael suffered show hosts like no other. Why did you become a part of the Savage Nation we have 98 to eleven on talk thirteen seven need. Your help please somebody yells at risk. You this is all an attempt to intimidate people from speaking out on the issues they care about because if you don't plowed down to whatever agenda happens to be in the news of the day you are responsible for helping inflame the passions and needs psychological profile of individuals who are on the edge I hope he'll understand that's that's why they immediately went to the hate speech issue. Hate speech. Terrorist act you're healthy radio addiction starts every morning at eight Laura Ingraham show on talk thirteen seventy plus he is mum told. Trying to put in the market applaud Telecom that would money do you think there is they're kind of like buying not use technology. Well I think China's supplies 247. Gal 365. Days a year no question in my mind I think we all know that look when you're talking about a country and that is willing to ignore words copyright law. And trademark law in that sense you're talking about a rogue nation money talks with the Bob Brinker Sunday nights at nine on talk thirteen seventy. Can. Cash. Radio show. Phone lines are open for your questions about anything to do with investing in real state starting to build these past trends and then come. Give me a call at 8777115211. 8777115211. Or you're welcome nick email me. And ask Steve. That's an old you are in C dot com ask Steve. And tell you I NC dot com. So I promise you tool. To deal with Europe. Stand this one has helped me on many many many occasions. It ends. Is deeply concerns exist or it's basically to take fear. As an acronym. And it stands for false evidence appearing real there's the caviar. When it's something someone else's done successful. Simply put if you're afraid to jump out of an airplane. Without a parachute. That's a good fear. Could save your life why because no one has that I know of has done that successfully. But when you've got to fear of something that someone else has done successfully. That is false evidence appearing real. In your subconscious knows it. Your subconscious knows it have you ever had somebody say something unit just didn't sit right. Just didn't sit right. It didn't make sense. That's your subconscious. And see when people told you that all of you can't go around build wealth with real state. It's this it's that it's. Problems with this problems with that you can't do you don't have the courage you can hinder you don't have the money you can't do it. There's always a little something in the back of your mind going this doesn't sound right. That's your subconscious. And it knows. That there's something bogus about those points we'll talk more about this in a moment let's get back to the phone lines and go to Dallas Texas. Phone lines are open and 8777115211. 8777115211. And let's talk to Tracy Tracy thanks a lot for calling him how are you today. I've been good they've just a quick question. About four and can't stay up there it is cohort showed Bart you have mentioned. If you all have. An airport property. Not all for the purchase all right but also for the renovation. Could cost as well I was curious as the world Lugar. You're doing that through conventional lenders or do you have to go two up. Another short and if so are. What kind of up front cost would you be looking at that kind of compared them as well as she interest rates. Go area where the. Okay sounds good. All right these type of loan that I'm using these expensive. Is what's called hard money loan. And it's called hard because. It's got high interest in high closing costs. Now. So what I do is I do with two stage. Financing. Because a conventional most of the houses that I Bob wouldn't qualify for conventional loan. There's just too much wrong with them so no bank is gonna find him some anyway even if you wanted to do a conventional loan you could. Is missing carpet missing appliances. 30000 dollars worth of work 20000 dollars worth of work. I needed to bring it up to where you can even qualify for conventional mortgage. So I use a thing called hard money loan and those are generally from private investors. I give him through mortgage companies but again the money's coming from private investors. The end that loan includes. The purchase price. The end the rehab cost up to 75%. Now. Let me share something with you that's very exciting but in today's market is very rare. If you find a 100000 dollar home. That you can bond. In the rehab. For 75000 dollars. That's as she wrote him deal. They will give you the entire 75000. Dollars. But there's high closing costs. You could pay 3%. 4% closing costs. Being earned the interest rates is at 12%. But here's why don't mind doing it. Because I only use it for about two months. About two months and I never make a payment on it anyway. Because my tenant does. The example I'll give you. Well we got to get a break when we come back from the break I'll show you exactly. With the case study of my most recent deal. Exactly how I did use a hard money loans and then move to a conventional. This is the lifestyles on the unlimited real estate investor radio show called me at 87771150. What would happen if you didn't show up for work tomorrow. For the next couple of days for a week a couple of months a year and how long until you lose everything you workforce in a fraction of the time it took earned. It's this fear keeps you up at night it's time to learn the strategies we teach fit lifestyles unlimited starts with a free workshop. Go to might pass it didn't come workshop dot com and find your true financial pieces like so many of our members already have. That's my passive income workshops dot com. I'm frank sent a penny with CBS radio news. Together with strong thirteen seventy we'd bring you the latest headlines from across the country and around the world for the top of the embryo. And when news breaks you'll hear it here first will be unmatched worldwide resources of CBS news. Count on us to keep you informed every hour on the hour. CBS news radio only on Boston's home for all talk thirteen soon. Experienced agent of deception and the power of Nazi propaganda and a brand new exhibit now on display elbow bullet museum in the state of deception as an interactive feature that explores Nazi propaganda including rare artifacts historical put intense first person interviews empowering for all allegiance the exhibition emphasizes what the issue of propaganda matters and inspires visitors to search for truth experienced data deception all on you know until Bullock Texas State history museum more visit does story of Texas dot com. The show on hand. Hannity show I think Hillary probably right now is terrified which is why they're going through this for juvenile 1212 Mark Cuban in the front row and unless you really need Dell plus plus her daughter but bear in fact check from. And artillery Josh. According to ease and natural I think she's nervous she's got everything to lose here yeah. We've got a larger than life personality that that transmits. 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Random national entry will win a thousand bucks every time we play what do you do with a thousand it's really about the money. Fourth time every weekday if the thousand dollar payoff on top thirteen seventy domestic battery life don't text and drive to. Thirteen 78. It's a real estate investor radio show on your host Steve Davis phone lines are open at 877. 7-Eleven 52118777115211. We're talking about using hard money loans to acquire property. And yes they're expensive. Yes they have a higher interest rates. But let's look at the one of the main reasons that we use them now obviously. Don't funniest property that nobody else will that's pretty darn good reason right there but let's look at it from a down payment standpoint. Let's say that conventional financing. Would give you a lot. And we've got a 100000 dollar house that we bought for fifty there's Tony thousand dollars worth of work. In 101000. Dollars worth the closing cost and remember we're doing to loans. That's higher of course but let's just say. So we'll have 80000 dollars total in the deal. If I did a conventional loan I would have to put 20%. Of the purchase price Daniel which should be 101000 dollars. And he and I would have to pay all. Of the rehab out of pocket which as I mentioned this 40000 dollars a year and the closing costs which is 101000 dollars. So bad deal would be 40000. Dollars out of pocket. To pull it off with a conventional loan. With a hard money loans. That same deal was 5000 dollars and you can do eight of those. Compared to one with a conventional love. Second major reason we use hard money doing that. So if you look at the last deal that I did. And what was said the numbers run from me. But it it appraised at 175. Fumble in around 150. Including the clothes high closing costs. Including holding cost. And then I mentioned that I never make a payment. On the house and here's why. In the end. Rehab. The average. Contractor can do about 7000 dollars worth of work a week. So the example would be if it's a 141000 dollar rehab is gonna take him about two weeks to complete it. Hey good contractor. Can do 101000 dollars a week in rehab. So but 20000 dollar rehab with take two weeks. In this particular case it was right at a 30000 dollars was gonna take three weeks. How wall leases. In the following week. Almost without fail. Because in Texas it's not as long as it takes to lease of property two weeks if you're. If you're over prices. So before my first mortgage payment is due. I will have collected the first month's rent and security deposit. One of 15100 dollar A month rent almost collected 3000 dollars before I have to make my first thousand dollar payment. Think about stuff. They're you have to know what you're doing to be able to do that. But. Now I realize I'm all over the place I hope loving answer the question. If not you can call me back at 87771152. The eleventh but being a member of lifestyles and limited. And you'll have access to probably six or seven different mortgage companies. That dude those hard money loans. So they're not they're not that hard to find you do need to mimic the a member for real estate investor group like hours. As always say if not our group somebody's career. You can you can't do this on your own. Let me rephrase that. You can do it on Europe. But no where near as effectively. As if you're a member of a real estate investor group. Nowhere near. The example. Targeting is a guy came in with thirty houses. Joined up lifestyles and limited. He took our two day class came out of the junior class and said to me. Man if I don't know all that I have sixty houses now Kenny went on to buy a 120 houses. I come 124. So Jim Ball with a club. You'll be on the phone on the hard money that way and then use them but again can you see why I'm only using you know for about two months. In other words it takes me thirty days of rehab it. I make one payment and 12% interest cannot refinance that mound down it. Three and a half four or 55 guys use a portfolio loans. So I hope that helps. From a stroke and 8777115211. 8777115211. Or you're welcome to email me 24 hours a day. Seven days a week. Anytime anywhere. Send me your dumb questions you're good question I don't care I'm very sympathetic to the dumb questions because I asked the mall. So email me and ask Steve and own view RMC dot com. Ask Steve that old you are in C dot com. So the big take away I want you to get from today's show is that acronym of fear is false evidence appearing real. And start looking at anything you're afraid of and see if other people aren't doing it anyway. If they are. Then all of your fears are false. You can do it too. You may need some education may need some coaching but. You can't do what I'm talking about on the shelf. All right this is in the lifestyles on limited real estate investor radio show thanks for listing of a great restaurant that. Thanks for listening to the lifestyles unlimited real estate investor radio show remember that this show is for entertainment purposes only. I should not be construed as legal investing Nortek tonight's results may very. Always consult a professional. Before making any financial decisions if you'd like to find out more about the mentoring available at lifestyles unlimited please visit them online at lifestyles and unlimited dot com.