On today's show we talk with a real estate investor who started with no money - and has done well over 100 deals using a variety of creative methods to finance his deals with little to no money out of pocket (including a $6 million dollar deal!)
Wendell De Guzman from the Chicago area tells us his story of starting out without any cash, working with other investors, tips for wholesaling dozens of properties every year, and a lot of other great tips. Wendell is incredibly honest about his struggles - including a foreclosure - and how he overcame them to run a powerful investment company doing dozens of successful deals every year. Don't miss a moment of this powerful interview!
Read the Transcript
Click here to read the transcript.
Listen to The Show on iTunes
Click here to listen on iTunes.
Listen to the Podcast Here
In This Show, We Cover:
How Wendell started with no money down
Using a lease option to buy properties that have no equity
Profiting $37,000 on a house most investors pass up... with no cash out of pocket
Is subject to investing illegal?
Why Wendell invests in different states
How to look like a fool when wholesaling
Should new people start with wholesaling?
How Wendell purchased a $6 million apartment building for $5,000 down.
How to work with other investors to find greater opportunities
Wendell's major mistakes in his REI career... including
And so much more!
Links from the Show
BP Podcast 002: Starting Out with Karen Rittenhouse – Subject To, Direct Mail, and Investing from a Woman’s Perspective
www.hudhomestore.com
The BiggerPockets Calculators: BiggerPockets.com/calc
Loopnet.com
Listsource.com
Biggerpockets.com/forums
Tweetable Topics
"Don’t buy in areas where you have to wear a bullet proof vest" (Tweet This!)
"Real Estate is not all about the numbers" (Tweet This!)
"Real estate is an art, not just a science." (Tweet This!)
Books Mentioned in the Show
Rich Dad, Poor Dad by Robert Kiyosaki
How to Be a Quick Turn Real Estate Millionaire: Make Fast Cash with No Money, Credit, or Previous Experience by Ron LeGrand
Trump: The Art of the Deal by Donald J. Trump
The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Ries
Connect with Wendell!
Wendell De Guzman's BiggerPockets Profile
TheDiligentWholesaler.com
The Backwards Bowler
https://youtu.be/64vbnwtL7I8
View the full article: BP Podcast 065: Creative Investing, Mistakes, and Bulletproof Vests with Wendell De Guzman on on The BiggerPockets Blog. This content is Copyright © 2015 BiggerPockets, Inc. All Rights Reserved.