Get Creative with Pace Morby Alvin Lee's Journey to Financial Freedom Through Creative Finance
Welcome to a new episode of Get Creative! Today, we have Alvin Lee, an experienced real estate investor, joining us to discuss his journey in the world of creative real estate investing. Alvin shares his experiences with wraps and mobile home park investing, highlighting the strategies and lessons he's learned along the way. Host Ingryd Hernandez guides us through Alvin's story, providing valuable insights for aspiring real estate investors.
Highlights:
"I like to learn through experience. You know, just learning it on paper is one thing, but actually being part of a transaction, learning and going through the motions of it is where you truly gain experience."
"You don't have to know everything in real estate, but you have to know the right people, right? Yeah, the who, not the how."
"When you're doing a wrap, you're actually becoming a bank. So then when you're doing a wrap and you're becoming a bank, you are now held to the same expectations that banks are."
"We're continual learners, so always improving on our processes, our knowledge base, and doing everything by the books the right way."
Timestamps:
00:00 - Introduction
05:00 - Alvin's approach to the wrap deal
07:56 - The details of the wrap deal
11:21 - Lessons learned from the wrap deal
15:00 - Importance of the RMLO process in wrap deals
19:16 - Alvin's continuous learning mindset
20:46 - Alvin's goals and pursuit of financial independence
21:52 - Alvin's interest in pursuing more wrap deals
23:32 - Alvin's latest mobile home park acquisition
24:33 - The financial details of the mobile home park deal
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