Shifting Strategies: Finding Profit in Real Estate's Toughest Challenges
Feb 13, 2024
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Pisey Kor, a savvy real estate investor, shares their story of facing setbacks and using creative financing and community support to transform their investment strategy. Highlights include discovering seller finance, the freedom of working from home, recovering through seller finance, and the role of community support in business success.
Creative financing, like seller financing, can help turn a loss into a gain for real estate investors.
Building relationships and being part of a supportive community are crucial for success in the real estate industry.
Deep dives
Using Creative Finance to Sell a Property
The podcast episode discusses how using creative finance, specifically seller financing, can help investors sell a property instead of buying it. The guest, Pisa Core, shares her experience of owning a rental property that was costing her money due to repairs and property management issues. After joining the Sub 2 community, she learned about seller financing, and she sold the property to another Sub 2 student. By structuring the deal with a low-interest rate, a small down payment, and a 30-year amortization, she was able to not only relieve herself from the financial burden but also make a profit.
Building Active Income through Wholesaling and Transaction Coordination
Pisa Core mentions how after changing her business model, she shifted from acquiring rentals to creating active income. She now focuses on wholesaling and transaction coordination. By teaming up with other Sub 2 students, she learned their business strategies and found a business partner with whom she conducts wholesaling deals. Additionally, she also embraced the transaction coordination business, which she received as a gift from another Sub 2 student. Pisa Core emphasizes the value of the Sub 2 community and the knowledge-sharing among its members to grow and succeed in different real estate ventures.
Expanding Future Options with Active Income and Private Money
In the podcast episode, Pisa Core reveals that while her current focus is on building active income through wholesaling and transaction coordination, she plans to eventually return to buying properties. She mentions her openness to sourcing private money in the future, but for now, her primary objective is to establish and grow her active income streams. Pisa Core expresses gratitude for the community and acknowledges the impact it has had on her own business growth and the relationships she has formed within the Sub 2 community.
Dive into an episode of transformation and triumph with our guest, Pisey Kor, a savvy real estate investor who turned the tides of their investment strategy through creative financing and community support. Discover how facing setbacks with innovative solutions not only saved their investments but also paved the way for a thriving business. It's a story of resilience, strategic pivots, and the power of community in the dynamic world of real estate.
Highlights:
"Working from home has allowed me to travel with my children, showing them a blueprint for earning without a corporate job."
"By selling the property on Seller Finance, I managed to turn a loss into a gain, showcasing the power of creative financing."
"The community's support system has been pivotal to my success, proving that building relationships is key in business."
Timestamps:
00:20 - Discovering Seller Finance
01:26 - The Freedom of Working from Home
02:59 - The Indiana Property Challenge
03:55 - Recovering Through Seller Finance
05:03 - Launching Top Tier TC
06:21 - A Deal Structured for Success
07:32 - Choosing Long-Term Gain
08:00 - Amortizing the Deal over 30 Years
09:32 - Gifted a Business Opportunity
12:06 - The Role of Community Support