You DON’T need a ton of money to find and fund real estate deals. Despite earning just $15,000 per year, today’s guest found the perfect property for him and scrounged the money to close. If you’re willing to learn, network, and put yourself out there, you can do the same!
Todd Fullerlove Jr. had recently graduated college, gotten married, and welcomed his first child when the reality of starting a family hit him like a ton of bricks. Living paycheck to paycheck, his little family was forced to move in with his mom. Todd knew something had to change and decided to give real estate investing a try. The only problem? He had no money! Fortunately, Todd had learned that you don’t need to be sitting on a pile of cash to get started. So, Todd did what every smart investor does—he found the deal first! From there, he built relationships and raised capital. Just by taking action, Todd has completed five deals in five years!
In this episode, Todd will show you how to find and fund off-market deals through the power of private money. You’ll also get a full breakdown of the short sale process, from working with banks to navigating home appraisals and broker price opinions (BPOs). Stick around until the end to hear about the loan Todd used to buy his first rental property with low money down!
In This Episode We Cover
How Todd went from making $15,000 per year to landing five real estate deals
How to get 100% funding for your deals through the power of private money
Short sales explained and why banks are motivated to work with you
What you NEED to know before tackling DIY home renovation projects
The BIG difference between a home appraisal and a broker price opinion (BPO)
Buying rental properties with low money down using USDA loans
And So Much More!
(00:00) Intro
(01:02) Making $15K/Year?!
(07:36) Finding His First Deal
(13:30) How to Find Private Money
(22:10) Structuring a Private Money Deal
(26:40) DIY Home Renovations
(32:49) Buying Rentals & Todd’s Portfolio
(39:45) Connect with Todd!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-423
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