How to Invest in Real Estate Using None of Your Own Money

Today you’re going to learn how to invest in real estate using none of your own money and no JV partners. My guests are Mel and Dave Dupis, creative funding experts who have a mix of all types of commercial and residential properties. We will also dive into scaling your business, exit strategies, mindset and so much more. [00:00 - 06:54] - Mel and Dave's Intro to Real Estate Started out working multiple jobs and buying properties traditionally Discovered they couldn't grow quickly enough saving for down payments Interviewed successful real estate investors and created a plan [06:55 - 22:32] - Types of Creative Financing Strategies Favorites are seller financing (carry backs) and using self-directed retirement funds Seller financing allows flexibility to meet seller's needs in exchange for purchase financing Self-directed IRAs / 401Ks can be used to fund real estate purchases Promissory notes help cover deposits, down payments, rehabs, and closing costs [22:33 - 31:34] - Building the Right Real Estate Team Property managers are key for finding pocket listings from sellers Investor-focused real estate agents understand numbers and creative finance Ask probing questions to vet real estate team members' experience Managed their own properties at first to understand property management [31:35 - 36:14] - Buying International Real Estate They've purchased properties in the U.S., Canada, Costa Rica using creative financing With the right team, can quarterback international deals from anywhere Made over $100K on a Costa Rica deal with no money down [36:15 - 46:26] - Avoiding Common Investor Mistakes Don't overspend or inflate lifestyle before long-term wealth is built Prioritize property purchases over luxuries in beginning Have a budget and savings buffer for unexpected expenses Maintain oversight and understanding even with property managers   Get In Touch With Mel & Dave: Website YouTube Facebook Instagram LinkedIn TikTok   Key Quotes: “If ever something happens, we'll sell our house before we don't pay back an investor because we can always buy a house, but we can never buy back our reputation.” - Dave Dupis   "We were literally trading our time for money, and although the book didn't show us how to do it, it made us realize that we're doing it all wrong and that there's an easier way to do this." - Mel Dupis   WANT TO LEARN MORE? Connect with me through my website, Instagram, and LinkedIn   Or you can send me an email at sharon@sharonvornholt.com    Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.   Learn more about this podcast on iTunes, or Stitcher.   If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!