There are several ways to solve that problem, as described in this training: 6 Ways to Raise Down Payment Money for Commercial Real Estate: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-TuL7sjVHi0o.html
I agree. While there are ways to get the down payment without using your own savings, all those methods require reducing the profitability of the deal. It's still better to take on investor money, govt programs, HELOCs/HELs, etc. then to never get started, but part of Dave's quick success was due to the fact that he already had hundreds of thousands saved up to use as a down payment. He would have been successful with or without that money, but it would have taken double the time or more.
Great video, I love CPA b/c it is straightforward; he doesn't use click bait or get rich quick schemes. This channel is the real deal. Just straightforward information that can be applied by anyone who is focused and willing to do the work.
Awesome Job Dave!!! $6M+ in holdings and $600K passive annual income in such a short time from scratch with all multi-families under 10 units! Obviously your mentor shared the ins/outs that nobody in networking ever shares!
High 5 Dave. Mr Harris, your instruction is appreciated, Sir. Your mentorship quality is so clear, you leave out no details. See you as soon as I get through your videos.
Congratulations Dave on building a portfolio, awesome job. 5yrs, 7 properties, 6mil & $600k income. Looks like you've built a nice retirement nest egg in s short time period. Again, great job!
The only thing that is misleading about real estate is there is no way to determine what someone is making based on the value, amount of properties, or rent roll. He could be making $1 billion/day and still not see any cash flow from that. $600k in rent does not mean $600k income like it does from a job. I'm sure he is doing very well as he seems to be an intelligent man; I just wanted to point that fact out since most new investors or non-investors don't understand that component of REI.
Congrats Dave ! Great inspiration and your commitment to the process with CPA. Appreciate your perspective and sharing your key points ! Keep growing that portfolio 🙌🏽🙌🏽
Mr.Harris And Dave thanks for this Educational Real Estate Video.. I Look Forward To Getting In The Field And God Willingly Have The Opportunity In Meeting My Real Estate Comrades
He didn't share that with us but our guess is that his credit score was decent. The property itself is why the local bank funded his first deal, not his debt to income ratio.
