On today’s show we talk with a real estate investor who started with no money – and has done well over 100 deals using a variety of creative methods to finance his deals with little to no money out of pocket (including a $6 million dollar deal!)
Wendell De Guzman from the Chicago area tells us his story of starting out without any cash, working with other investors, tips for wholesaling dozens of properties every year, and a lot of other great tips. Wendell is incredibly honest about his struggles – including a foreclosure – and how he overcame them to run a powerful investment company doing dozens of successful deals every year. Don’t miss a moment of this powerful interview!
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- How Wendell started with no money down
- Using a lease option to buy properties that have no equity
- Profiting $37,000 on a house most investors pass up… with no cash out of pocket
- Is subject to investing illegal?
- Why Wendell invests in different states
- How to look like a fool when wholesaling
- Should new people start with wholesaling?
- How Wendell purchased a $6 million apartment building for $5,000 down.
- How to work with other investors to find greater opportunities
- Wendell’s major mistakes in his REI career… including
- And so much more!
Links from the Show
- BP Podcast 002: Starting Out with Karen Rittenhouse – Subject To, Direct Mail, and Investing from a Woman’s Perspective
- The BiggerPockets Calculators: BiggerPockets.com/calc
“Don’t buy in areas where you have to wear a bullet proof vest” (Tweet This!)
“Real Estate is not all about the numbers” (Tweet This!)
“Real estate is an art, not just a science.” (Tweet This!)
Books Mentioned in the Show
- Rich Dad, Poor Dad by Robert Kiyosaki
- How to Be a Quick Turn Real Estate Millionaire: Make Fast Cash with No Money, Credit, or Previous Experience by Ron LeGrand
- Trump: The Art of the Deal by Donald J. Trump
- The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Ries
Connect with Wendell!
The Backwards Bowler