Storage Wins EP470: The Power of Creative Deal Structuring - Case Studies by Kari Lyke
Kari Lyke was working as a physical therapist and taking her work home. She had no extra time for herself and she was living paycheck to paycheck! She knew that if she wanted to get out of the rat race, she had to get into real estate. Fast forward 6 months later and she completely replaced her salary while working less hours and with a baby in tow! Today, Kari's been in her business for nearly 8 years and does a variety of creative deal structuring where she puts zero of her money down. Find out how on this week's episode!
Key Takeaways:
- Kari is getting ready to launch her podcast (The Investor Warrior)! Stay tuned!
- Who is Kari and how did she get into real estate?
- When Kari got started, she had terrible credit, couldn't qualify for a loan, and she had no cash.
- Find out how Kari replaced her salary within six months (and with a baby on her hip)!
- Kari ended up turning down a $20k deal from another wholesaler when she was first starting out. She was intentional by doing this.
- Kari had very big goals of doing two house flips, two wholesales, and two long term rentals, How did she achieve this?
- Deep down inside, Kari didn't want people to answer the phone. After working through this fear and having a mindset shift, she ended up getting really fantastic deals in a very competitive market.
- Alex can relate to this story because when he started door knocking, he prayed no one would answer. After week three, he changed his mindset and broke through a new barrier.
- What does Kari's business look like today?
- Kari and her son ended up getting a mold toxicity and she needed to take a step back to take care of her health.
- Our health can be compromised at any point, so make sure you prioritize it.
- Kari shares a recent client case study and how she used creative deal structuring for this deal.
- Why did Kari decide to flip this instead of wholesaling?
- Kari did all the renovations that she needed to do from the comfort of her own home! She only went to the house three times.
- Kari partnered with three people on this deal and only worked 10 hours on the project.
- It's huge having a good and long standing relationships with your contractors and title companies.
- Kari throws an appreciation party every year for her power team. Roughly 70 people are on that list and they are all responsible for making Kari's business happen.
- Kari also does this with her tenants! She sends out Christmas cards to let them know they're appreciated.
- Kari shares another case study where she used seller financing.
- What does 'first right of refusal' mean?
- What's Kari's podcast going to be about?
MENTIONED IN THIS EPISODE:
Connect with Kari: Karibuyshouses & Instagram
ASCEND:
Don't Wait To Enjoy Your Life Tomorrow, Live It Today! How To Grow Your Business, Expand Your Impact, and Experience Your Perfect Life:
π LISTEN & SUBSCRIBE TO THE FLIP EMPIRE SHOW (PODCAST) on Apple Podcasts βΆοΈ http://www.flipempire.com/podcast πΊ SUBSCRIBE TO ALEX PARDO'S YOUTUBE CHANNEL NOW βΆοΈ https://www.youtube.com/alexpardo π How To Grow Your Business, Expand Your Impact, and Experience Your Perfect Life Don't Wait To Enjoy Your Life Tomorrow, Live It Today βΆοΈ https://www.AscendYourSuccess.com/
FOLLOW ALEX ON:
β INSTAGRAM β http://instagram.com/alexpardo25 β FACEBOOK β https://www.facebook.com/alexpardo15 β LINKEDIN β https://www.linkedin.com/in/alex-pardoβ YOUTUBE β https://www.youtube.com/alexpardo.
. TWEETABLES:
"It doesn't matter how (you'll achieve your goals) if your why is strong enough."
"I think a lot of people tend to put their head down when it comes to business and they're not looking around at all the other things going on."
"There's so much information out there. You can find it for free, but not everyone is going to implement it."
ASK ALEX A QUESTION:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record your question. We've made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
SUBSCRIBE To The Flip Empire Show, and Leave a Rating & Review!