Get Creative with Pace Morby How a Morby Method Deal Turned a Problem Property into Profit
Welcome to a new episode of Get Creative! In this episode, host Ingryd Hernandez sits down with Michael Sanchez, a seasoned real estate investor from New Mexico. Michael shares his experience navigating the unique challenges of investing in his local market, as well as a creative finance deal that allowed him to expand his portfolio. The discussion covers the importance of community, strategic financial reporting, and leveraging innovative strategies to turn problem properties into profitable assets.
Highlights:
"We're creating a bridge here. All of us are working together to find the right team, the right title, the right lawyers, the right real estate agents to just make it happen."
"Because we're hands on, it makes sense for us to stay in our backyard. And with the population growth, there really hasn't been any reason to leave it."
"Shout out to the greatest community in the world, right? It's great."
"You get these huge numbers whenever you buy a house and sell a house in the same year. That's all revenue that you could show instead of them wiping it out."
Timestamps:
00:00 - Introduction
01:13 - Introducing Michael Sanchez and His Real Estate Communities
02:18 - Challenges and Opportunities of Investing in New Mexico
06:15 - Implementing the Morbi Method in a Creative Finance Deal
10:31 - A Smooth Eviction Process and Property Renovation
12:36 - Understanding the Mechanics of the Morbi Method
15:19 - Navigating DSCR Loan Challenges
17:45 - The Importance of Proactive Financial Reporting
21:33 - Staying Focused on the Local New Mexico Market
22:43 - Closing Remarks
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