Today on the Investor Empowerment Radio Show my special guest is Chris Emerald of CE Law. Chris and I have been working together for several years in the Chicago area on not only my real estate investing opportunities but also the opportunities of other investors in the area.
Chris has been an active sponsor of the meetup group I host-- www.investor-empowerment-chicago.com
Since it's inception of the group, helping real estate investors establish business entities, representing investors and wholesalers on dozens of transactions and acting in a legal capacity when those "not so desirable" type questions come up in various situations of the real estate investing business.
Today we dive into Asset Protection strategies, Subject-to investment models, Articles of Agreement for Deed and having engaging Attorneys as a "necessary evil" in your real estate investing business!
You ask, you receive. A bunch of the listeners (You) have been very receptive to the podcast, providing some questions and feedback.
This episode is a Q&A session with my previous guest from episode #4&5, Dan Clarton, as my co-host, responding to a bunch of the text, email, and in person questions I’ve received since starting the podcast.
We touch on:
-Building a ‘Power Team’
-Wholesaling as the ‘gateway drug’
-Getting a broker license or not to get a broker license
-JV Deals, what they are and all about.
AND MANY MORE!!
How much money do you need to succeed as a real estate investor? Ummmm.... Infinite. Right? Beginner, intermediate, or expert investors need to know how important money is to their business. I know a lot of you want to own your own little 'fix and flipping' island and 'don't need anyone' to succeed as a fix and flipper. That's all good. BUT, in order to exponentially grow your business, you WILL need additional funding to get that next best deal when all your funds are tied up, grab a rental property for every 1-2 fix and flips you do, or obtain some rehab funds for your first or last opportunity.
Let's explore what private money is, and how hard money works.
I think part of the benefit of listening to podcasts is hearing the truth about how real estate investing REALLY works for an investor. Do you want to be in the KNOW?
This particular deal is a real life example of what opportunities one could expect in our market, and what one should expect when looking to either fix and flip OR buy and hold a property.
This is RAW data, I sat down with my calculator, my invoices, and my receipts and added all the numbers together on one of my current projects. I guarantee there are better and worse real estate investments out there, but I am going to give you the REAL data after one is completed. I also video documented this project on my youtube channel: https://youtu.be/F2LHh6g3dGk
My disclaimer is I initially had cost projections lower than than the final numbers, so I spent a bit more than I anticipated, but that's how REAL real estate investing happens!
I also touch on working with wholesalers and networking, and my beliefs on the “Education” circuit.
Want to see the FINAL Walk through Video, go to my youtube channel:
Also, see the other videos of this project to see the perspective start to finish:
Full disclaimer, I am a real estate investor, broker, entrepreneur and amateur podcasting rockstar… I am not an attorney, I do not nor have I ever been employed by Section 8 or any other housing authority, and though I do own rentals in multiple states, today’s podcast is focused on my experience in the Chicago area.
Do you really know how Section 8 works? Is your lack of knowledge or experience in the Section 8 program what’s scaring you from renting to section 8 tenants? Is Section 8 housing REALLY slumlording? These questions and more will be answered on today’s podcast featuring our guest—Me, Myself, and I.
I implore you to complete additional due diligence on the Section 8 Housing Program and not just take MY word for it, but you’ll get my 3 cents.