Welcome to a new episode of Get Creative! Your host for this episode is Jordan Whittenburg, and today, he’s joined by Evan Bates, a newcomer to the SubTo community who recently pulled off an incredible real estate deal in Idaho. In this episode, Evan shares his journey from tech recruiter to real estate investor, the challenges he faced in closing his first deal, and the creative strategies he used to navigate obstacles like seller finance and DSCR loans. If you're looking for inspiration on how to take action and succeed in the real estate industry, this episode is packed with valuable insights and advice.
Highlights:
"Building rapport quickly is crucial in both recruiting and real estate."
"This deal had so many twists and turns, but creative solutions saved the day."
"The SubtTo community's generosity and go-giving spirit blew me away."
"Sometimes, it's not just about the transaction—it's about the relationships you build."
Timestamps:
00:00 - Welcome to Get Creative! Introduction to the episode.
01:55 - Evan’s Journey from Tech Recruiter to Real Estate Investor.
04:49 - The Idaho Deal: How It All Started.
08:55 - The Setback: Losing a W2 Job and Its Impact on the Deal.
11:17 - Navigating DSCR Loans and Traditional Financing Challenges.
13:37 - Joining SubTo: Leveraging Community Support and Resources.
18:12 - Direct Seller Communication: Building Trust and Understanding.
22:32 - Structuring the Deal: Seller Finance and PML Strategy.
27:52 - Final Numbers: Cash Flow, Cap Rate, and Cash on Cash Return.
30:18 - Wrapping Up
► Join The Subto Community & Learn Creative Finance Directly from Pace:
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► Want to Become a Private Money Lender? Join Us For The Upcoming LIVE Training this Saturday to Learn How to Lend Money on Real Estate Deals:
http://joingatortribe.com/yt
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► Become a Top Tier Transaction Coordinator and Make Money Doing The Paperwork For Real Estate Transactions:
https://paceapproves.com/tttc-gc
► Listen To Pace and His Students Share Insider Secrets To Real Estate Investor Success:
https://getcreativepodcast.com/
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