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The biggest difference between aspiring real estate investors and successful real estate investors is the willingness to take action. On today’s show, I’m excited to share Paul Beets’ story with you. Paul is a podcast listener who utilized strategies he’s learned from the show to purchase 18 properties in less than two years!

On this episode of Investing in Real Estate, Paul is sharing his story of becoming a real estate investor. You’ll hear about his first deal, how he was able to grow his portfolio, and the financing strategies he’s utilized. If you’re looking for some inspiration, this episode is for you!

On this episode you’ll learn:

  • How Paul found his first deal.
  • The different ways Paul has used financing.
  • Paul’s biggest lesson in real estate.
  • And much more!

How Paul Found His First Deal

After learning about how to pay off his mortgage, Paul learned about the strategy of using a HELOC to buy cash flowing rental properties. He found a fixer upper house through a wholesaler in Indianapolis, and used his HELOC to purchase it for $27,000. The rehab was quoted at $32,000, so Paul worked with Fund&Grow to pay for the renovation. With additional rehab costs, Paul paid about $67,000 total for the property. Although it originally rented for $899/month, that number has risen to $924.

The Different Ways Paul has Used Financing

Paul used his HELOC to obtain his first property, and used business credit cards to fund the rehab. He has since started working with a hard money lender to help him reach his Freedom Number of 31 doors. He is over halfway there in less than two years!

Paul’s Biggest Lesson in Real Estate

With Paul’s first property, the rehab involved a lot of work! These days, he has pivoted toward purchasing properties with lighter, more cosmetic rehabs. In his experience, the more distressed the property is, the more you will see a variance in rehab costs. This is because it’s harder for a contractor to make an accurate estimate until they actually start working and get a better understanding of the house’s condition.

Episode Resources
LightStream.com/investing ← Apply today to get a special rate discount!
morrisinvest.com/funding ← Get $500 off your signup fee!
Rich Dad Poor Dad by Robert Kiyosaki
Book a Call with Our Team
Subscribe to Investing in Real Estate on Apple Podcasts
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.

AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to​ use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.

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Posted on

April 30, 2020

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