Summary
In this conversation, David Shaw and Clark Lunt discuss the controversial topic of getting discounts when buying real estate. They debunk myths and explore different methods of acquiring deals. They emphasize the importance of understanding one's goals and the sacrifices involved in pursuing discounts. The conversation covers topics such as realtor pocket listings, working with wholesalers, and the challenges and benefits of each approach. They also provide tips for successfully buying from wholesalers, including effective communication and having hard money lined up. The conversation covers various acquisition strategies in real estate investing, including wholesaling, foreclosure auctions, buying distressed notes, and more. The hosts emphasize the importance of understanding the risks and complexities associated with each strategy. They also highlight the distinction between short-term and long-term investment approaches, with a focus on the benefits of long-term buy and hold strategies. The episode concludes by suggesting alternative options such as investing in syndications and funds for those who prefer a more passive investment approach.
Chapters
00:00
Introduction: The Controversy of Getting a Discount
01:26
The Importance of Getting a Deal
04:18
Realtor Pocket Listings
06:42
Working with Realtors and Pocket Listings
09:47
Engaging with Realtors and Incentivizing Them
13:47
Working with Wholesalers
20:47
The Cost of Wholesaling
22:41
Negotiating with Wholesalers
26:30
The Challenges of Wholesaling
29:41
The Process of Selling Wholesale Contracts
38:18
Tips for Buying from Wholesalers
40:08
Wholesaling
42:07
Foreclosure Auctions
44:35
Buying a House in Foreclosure
46:03
Understanding Liens and Encumbrances
50:20
Challenges of Buying in Foreclosure Auctions
54:55
Direct-to-Seller Mailing and PPC
55:55
Cold Calling and Texting
56:37
Buying Distressed Notes
58:16
Online Real Estate Websites
01:03:31
Short Sales
01:14:59
Long-Term Buy and Hold Strategy
01:17:31
Investing in Syndications and Funds
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