Lex Levinrad Real Estate Investor, Speaker, Author & Mentor

On today's podcast episode, I talk about exit strategies in real estate. I find that too many educators and real estate podcasts out there are focusing on the acquisition strategy and finding properties. While finding deals is important, I think it's equally important to understand what to do with a property once you own it. Ironically, what you plan on doing with the property once you own it, is directly related to finding properties. If you know what you are looking for, then you know where to search and what to search for. This is the biggest mistake I see new real estate investors make. They are not sure what they are looking for. Once you identify the type of property that you want, then you can focus on the exit strategies which are: *Buying Rental Properties For Wealth *Selling Rentals with Owner Financing *Selling Rentals with Rent to Own *Fixing and Flipping The Property *Airbnb & Short Term Rentals Ultimately, if your goal is to create wealth and financial freedom, then you should focus on buyin

On today's episode, I talk about buying houses on terms. This is a follow up to our previous podcast episode, which spoke about the Novations Strategy. If you have not already listened to that episode I encourage you to do so. In today's market, if you are doing direct to seller marketing, you are going to be facing sellers who know that the market is hot and know that they can get top dollar. You are going to encounter many scenarios where the seller wants a retail price or close to retail, and as a cash investor you simply cannot pay that much. If you are paying cash, you are typically buying properties at around 70 cents on the dollar. Usually you are using a hard money or private lender to buy properties for cash and because the rates are high, you have to buy at a significant discount for the deal to make sense. But is there a case for you to buy properties at a higher price like 80 to 90 cents on the dollar? There may be, if there is existing financing in place and the rate is very low on that financing

On today's podcast episode I invited my friend Eric Brewer, who is a member of my Collective Genius Mastermind to talk about Novations. I first heard Eric talking about Novations a few years ago, at one of our mastermind meetings. Since then, I have seen many of my friends from the mastermind implement this method in their own real estate investing. This strategy is perfect for deals where the seller wants more than you are willing to pay. It also allows you to earn bigger spreads. Eric explains how to use this novation method. There are a lot of golden nuggets in this episode! Make sure you take lots of notes. If you are brand new to real estate and want to learn more about our real estate training programs, investing in real estate, buying rental properties, wholesaling real estate, and fixing and flipping houses then please register using the free webinar training links below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FREE FIXING AND FLIPPING TRAINING If you want to learn how to fix and

On today's podcast episode, I talk about investing in foreclosures, short sales and bank owned properties. The Federal Eviction Moratorium and the Foreclosure Moratorium both recently expired (as of September 2021). Current government guidelines recommend that banks and mortgage servicers try to "work out" and negotiate with homeowners that are delinquent on their mortgage. Banks are able to modify the terms of the loan, can decrease interest rates, increase loan term, or add money owed to the back end of the loan. Many homeowners have taken advantage of forbearance options and will be able to modify their loan. However, homeowners that are delinquent on their mortgage and cannot pay will be facing foreclosure. There are currently millions of homeowners who are delinquent on their mortgage and not in forbearance. I anticipate that 2022 will be the year of foreclosures. Many of these homeowners will not be able to make their mortgage payments and the banks and mortgage service companies will be forced to file

On today's podcast episode I talk about the opportunity in short term rentals and Airbnb. Over the past 2 years, some of my students have transitioned from rental properties and section 8 rentals to Airbnb. And the opportunity in short term rentals is something that you need to pay very close attention to. As an example, my student Andy had a Section 8 Rental Property in Miami that was generating around $2,200 per month. When the tenant moved out, he decided to turn the rental property into a short term Airbnb rental. That same property now generates north of $8,000 per month. Over the past 12 months he has been converting all of his rental properties to Airbnb. He is only 32 years old and he is already financially free. My student Davidson purchased a property on the West Coast of Florida in Lehigh Acres that he was originally intending on fixing and flipping. I encouraged him to explore the opportunity of keeping it as a short term rental. His listing just went live yesterday and in the first 24 hours he ha

On this podcast episode I talk about rental property returns and the components that make up the rental income and the rental expenses. As an example, I use a typical 3 bedroom 2 bathroom house that could be purchased for $250,000 in Port St Lucie FL. This house could be rented for $1,800 which would represent an annual gross rental income of $21,600. I break down the expenses on a property like this to show you how the rental income and expenses would be broken out in order to arrive at your net rental income (which is your real return). Gross Annual Income $21,600 Property Taxes $4,000 Property Insurance $3,000 Repairs & Maintenance $1,800 Vacancies and Evictions $1,800 Property Management $2,160 Net Rental Income $8,840. If you were to purchase this property for the price of $250,000 and you paid cash, then your return of $8,840 on a $250,000 would return you only 3.5% on your cash. Now granted that's better than a CD in the bank, but it's still a low return. So why invest in real estate? The answers a

On today's podcast episode I talk about why every real estate investor needs to know how to find wholesale deals. Even if you don't want to be a wholesaler, you should still know how to deploy the method that wholesalers use to find deals. If you are a landlord looking for a rental property you are looking for a wholesale deal at a wholesale price. If you are a rehabber looking for a fix and flip or your next Airbnb, you are looking for a wholesale deal at a wholesale price. And if you don't know how to find these deals, then you are paying a wholesaler a fee of $10,000 to $20,000 (or more) for each and every property that you buy. It would benefit you to learn how wholesalers find deals and to employ some of their tactics of finding deals directly from motivated sellers so that you can cut out the "middle man". On this podcast episode I talk about how wholesalers use different ways of marketing to motivated sellers to find deals. I discuss motivated seller marketing, text marketing, direct mail, pay per clic

On today's podcast episode, I interview my good friend Jon Carcone about Wholesaling, and how he runs and operates his wholesaling Business. Jon runs a very impressive Wholesaling Business in Washington DC which is completely virtual. He has created systems and processes for his wholesaling business that allow him to operate his business with virtual employees in multiple locations. Jon shares with us how he transitioned from a fixing and flipping business that was generating $400,000 a year to a wholesaling business that made over $500,000 gross profit last month. He talks about moving from his "comfort zone" to massively scaling his business. Year to date he has generated 2.2 million in Gross Profit from Wholesaling. I know many wholesalers, but not many that have those types of profit numbers which are phenomenal for a wholesaling business. He shared his story about the transition as he moved from purchasing on market deals on the MLS to moving towards direct to seller marketing with direct mail. He discus

On today's podcast episode I talk about buying rental properties. One of the most common questions I get from students is whether or not now is a good time to buy a rental property. The answer is yes. It's always a good time to buy a rental property as long as you can satisfy two criteria. 1. The property must cash flow from day one 2. You are buying the property at a discount With today's low interest rates where 30 year fixed mortgages are at 3%, and 15 year fixed mortgages are at 2.3%, it's an absolute no brainer to buy a rental property. The tax deductions and cash flow that you get from owning a rental property, along with the long term appreciation are some of the benefits of owning a rental property. Another benefit is that it's a great hedge against inflation. But by far, the fact that you will ultimately own the property free and clear and have no mortgage, is the real benefit of owning a rental property. Once you have no mortgage, the rental property will pay you income for the rest of your life. Yo

On today's episode I talk about the current situation with the eviction and foreclosure moratoriums. The eviction moratorium will be ending this month, and the foreclosure moratorium will be ending by the end of 2021. How will this affect you as a real estate investor? One of the biggest issues over the past year has been that there has been no inventory for investors. Usually, there is a steady supply of foreclosures and short sales and disgruntled landlords that want to sell their properties. However with the moratoriums in place, landlords could not evict non paying tenants, and banks could not evict non paying borrowers. This created a situation where foreclosures and REO's that would have been listed on the market were not listed since the federal government effectively prohibited banks from foreclosing on borrowers. Landlords that had non paying tenants could not evict their tenants because of the eviction moratorium. There are an anticipated 9 to 10 million renters that have not been paying their rent.

On today's podcast episode I talk about finding private lenders. One of the biggest misconceptions that new real estate investors have is that they think finding private lenders is difficult. It's not difficult, in fact there are literally trillions of dollars sitting in people's checking accounts, money market accounts and savings accounts. The trick is persuading people with money to lend their money to you. Private lenders will need to know you, like you and trust you. But they will also need to feel confident that you know what you are doing and that they are going to get their money back and not lose any money. And the best way to get them to feel confident in you is for them to watch you over time doing deals and borrowing from private lenders and hard money lenders. Once they feel confident in your ability, they will be willing to lend you money to buy real estate. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the

On this podcast episode I talk about the difference between students that succeed and students that fail. I was reviewing some students that were purchasing their first rental property in the past few weeks. I asked myself: "Why are these students managing to buy their first property while other students are still struggling? And that is what this podcast episode is about. Learning about real estate, systems, techniques, processes and software is NOT what will make you successful. The key is to IMPLEMENT what you learn by taking action. I have found with many of my students that they self sabotage themselves by having self limiting beliefs. The first step to success is to get rid of these self limiting beliefs. That is why I am such a big fan of my students reading books by Jim Rohn, Tony Robbins, Napoleon Hill etc. If you want to achieve success you have to first: 1. create a goal 2. have a clear and concise vision of that goal 3. figure out how you will achieve that goal 4. IMPLEMENT (take action) Enjoy the

On this podcast episode, I talk about wholesaling bank owned properties, short sales and foreclosures. Most wholesalers market to motivated sellers and "assign" contracts using the assignment of contract method. Assigning the contract has many advantages including, not having to lay out any cash, not needing to be present at the closing, and not having to pay any closing costs. Essentially your assignment fee is your profit if you are a wholesaler. However, not all properties can be assigned. Assignment works great if you are "direct to seller" and the seller is a motivated seller. But If you want to wholesale/flip a bank owned property, short sale or foreclosure then you are going to need to double close. This means that you will first have to buy and pay for the property, and only then once you own it will you be able to turn around and resell it. The best way to do this is to "double close" on the same day. You need to use an investor friendly title company to help you facilitate this transaction. Make sur

On today's podcast I talk about wholesaling real estate and being a wholesaler versus buying rental properties. The idea for this podcast episode came from this past weekend, where I spent 3 days with my coaching students at the Wholesaling Inner Circle. The purpose of the Wholesaling Inner Circle is to teach students how to wholesale. Most of my students that attend this event have already purchased a property or two and almost all have attended our Wholesaling Real Estate Boot Camp, and our Fixing and Flipping Boot Camp. The students that attend this event are interested in learning how to wholesale. Some of them want to become full time wholesalers and quit their job. When I asked everyone at the Wholesaling Inner Circle why they were there this past weekend, the vast majority said because they wanted financial freedom. When I asked how they would create financial freedom 80% of the room said they wanted to create financial freedom by buying rental properties. We spoke about their financial freedom number,

On this podcast episode I talk about beginner questions that seem to always be the same questions. I hear these questions at every boot camp from new investors, and it was a topic that came up today on my car drive to visit properties with my son. I realized he was asking the same questions, so I decided to make a podcast episode addressing these beginner questions The questions are: 1. Putting 20% Down Versus Paying Cash 2. Retail Vs Wholesale Real Estate 3. Why You Can't Get A Mortgage 4. How To Find Discounted Houses 5. What Are Motivated Sellers? 6. How To Get The Cash For Flips 7. Private Lenders and Hard Money 8. Finding Houses Yourself Vs Wholesalers 9. Understanding That This is a Business Enjoy the podcast!

This is the first podcast episode of 2021. On this episode, I talk about setting goals, and my vision and blueprint for 2021 (as I see it). 2020 Was a very interesting year for us. It was also a very difficult year for many people. We learned how to adapt to the change since no one would show up for live events we started streaming our live events via Zoom Webinar. The results were awesome. We can not give students all over the country the opportunity to attend a boot camp virtually without buying a plane ticket or having to travel. Since March, we have had all of our staff working from home. That has worked out great as well. We have added some more VA's and we are moving our entire office including lead managers, acquisitions, dispositions, student support and coaching to 100% virtual as of June 2021. Enjoy the podcast!

On this podcast episode I talk about something that I see time and again with many of my new coaching students, which is a real obstacle to their financial freedom It is also the one thing that every new real estate investor needs to know and understand BEFORE they can learn how to create wealth. This concept is something that seasoned investors take for granted (including myself). It is only through coaching others that I realized how many people did not understand basic financial concepts. This obstacle is also the same reason why some investors need to sign up for multiple real estate programs before the concept finally sinks in. Did you know that more than 50% of our coaching students have already paid tens of thousands of dollars to other real estate coaching programs BEFORE they signed up for my coaching program? Why? Because of this concept which I call "Obstacles to Financial Freedom", and it is by far your biggest obstacle that stands in your way and prevents you from living the life you imagined. Yo

On this podcast episode, I am interviewing my friend Steve Trang, who is the host of the popular Real Estate Disruptors Podcast. I first met Steve at the Collective Genius Mastermind, where he was doing Sales Training for Acquisitions Managers. Steve runs a company that trains wholesalers and acquisitions managers about every aspect related to marketing to motivated sellers. Steve is based out of Phoenix Arizona, and is the broker owner of Stunning Homes Realty which has 120 agents. He also created the "Offer Fast" Homes App. On this podcast interview, Steve talks about how he started investing in real estate, and how he transitioned from being a retail real estate agent to an investor. We talk about motivated sellers, and sales training for acquisitions managers and wholesalers and the follow up and mindset that is required when talking to sellers. We also talk about Steve's goal to create 100 Millionaires through investing in real estate. Enjoy the podcast! If you are brand new to real estate and want to le

On this podcast episode I talk about how to be a deal finder or property locator. In the wholesale real estate industry we call this being a "bird dog". Being a deal finder is hands down, the best way for you to learn if you are a beginner. Knowing how to find wholesale deals at wholesale prices is the foundation of being a wholesale real estate investor. It doesn't matter if you want to be a wholesaler, a landlord that buys rental properties, or a rehabber that fixes and flip houses. Either way, you will need to be able to find wholesale deals at wholesale prices. Once you know how to find deals, you can wholesale, fix and flip or keep the properties long term. The key is to know how to find the properties at a discount price that makes sense for you as an investor. I also explain how our Partnership Program works and how this program was created as a resource to help our new students that were starting out as deal finders. If you are brand new to real estate and want to learn more about how to wholesale rea

On this podcast episode I talk about why learning how to wholesale is a great place to start if you are a new investor. Learning how to wholesale and find houses at a deep discount is very important for you as a real estate investor and will make you a much more well rounded real estate investor. There are three types of real estate investors: 1. investors that buy rentals using a realtor 2. investors that buy rentals from a wholesaler 3. investors that buy rentals from sellers direct If you want to get the best wholesale deals at the lowest wholesale prices, then you will need to buy directly from motivated sellers. Those motivated sellers could be financially distressed (foreclosure, short sales, bankruptcy etc). They could be bank owned properties owned by the bank (REO). Or they could be properties that have been damaged by hurricanes, storms, floor or fire. If you want to find properties at a discount your seller is going to need to be motivated to sell at a discount. On this episode I talk about long te