Why should they be paying attention to real estate investing?
First of all, statistics show that this is a good place to invest. For example, on the Forbes billionaire list – and if you haven’t taken a look at that list, please take a look at it. I counted, every 10th billionaire on that list became a billionaire by having real estate.
I have 15 years in the real estate industry, and I used to run from it. I still assist other professionals within their real estate business. But I knew that I could close deals in heels. I can sell. That’s something that I do very, very well.
In my first year, we closed almost 30 deals. So, I knew I needed to get out from behind the scenes, and let my light shine bright, and go into these homes and solve these problems.
“Transitions happen. When did you realize that you didn’t have to be the one just making the sales for somebody else – that you could be doing it for yourself?”
Is there a particular strategy that you’ve utilized that’s been effective for your success?
I got my start as a wholesaler. I’m now looking into becoming the bank because, having a wholesaling business, I can’t leave that to my son. But I can build a portfolio that’s cash flowing. And that’s breaking the generational curse and providing generational wealth for my family. His kids will be okay by building a portfolio that is diverse.
You want to start letting your money work for you. And I say this, if you’re looking to receive upwards to 18% return on your investment, you should be investing in real estate. So you want to use your money that’s sitting in your IRA, money that’s just sitting there.
Most people don’t know that they can take that money, and they can purchase real estate with it.
Let your money work. Start purchasing notes. Start purchasing non-performing notes to become the debt holder, therefore making you the bank.
Why is this a good time to be in the real estate investment industry?
I’m just being honest – it is COVID.
People haven’t had the money to pay their bills. They have problems. There are people that are sitting in forbearance. After the six months up, they need to have a plan. What plan? Sonyea is their plan. I’m going to help you get from under that loan that might be upside down. You might be facing pre-foreclosure. You might be facing foreclosure. Those are all problems that real estate investors can solve.
And I’ve been getting really good houses, really good properties that need minimal work. So, I’m getting decent property that can cash flow good rents.
But, I’m also finding properties in good school zones, and I’m finding properties that are somewhat dilapidated. They have problems. They need a new roof or something like that, and you solve that problem.
“This is about being a problem solver. This is about coming in and finding solutions where it feels like there are none. It’s about finding a solution that works well for everyone to get everyone into a better place – and isn’t that what business is about?”
What else should we know about real estate investment?
The first thing you want to do is build your network. Then, you want to see if you want to start by wholesaling. I can show you how to make five to $10,000 in 90 days by wholesaling real estate.
If you have a little bit of time, or you have a little bit of money that you can leverage to create a team around that – I can tell you how to do it.
You can go and put somebody’s house under contract with zero EMD – earnest money deposit. So this is where you’re taking that contract, and you’re telling them, “Hey, I am getting equitable interest in your home, and I’m going to put this amount down. We’re going to hold it in escrow at an attorney’s office.” And I do it for $0.
Why? Because I’m transparent. I build relationships. Sales are built on relationships. If you are a great listener and people gravitate towards you, you’ll be surprised at what you can do in real estate investing.
I like to work with wealth builders, people who are wanting to leverage their money. So you can take that, and you can build a small team to do the dirty work – the cold calls and text messaging blasts. Then you can focus on the five to $10,000/hour efforts in your homes and looking for problems to solve.
3 Action Steps
1. Consider real estate investing to let your money work for you. For example, you can use IRA money to invest in real estate.
2. Think of real estate investing as a means to help people who are currently facing problems.
3. Build your network if you want to get started in real estate investing.
Connect with Sonya Bethea at LinkedIn.
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