Description

Today we are going to talk about “No Money Down” deals. And my guest Henry Washington has a source that took me a little bit by surprise.

His inspiration to become a real estate investor was born from a panic at night. He married his wife Jessica Washington after knowing each for just one year, and he knew that he couldn't afford the future that he felt his wife deserved. This is after they had conversations about their future home and kids. Currently, they are blessed with an amazing 2-year-old daughter and Jessica is pregnant with their second child.

In our conversation I asked Henry how he got into real estate investing and you’ll hear his story in a little while. 

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

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Call our National Comment Line: 877-55-ROGER (877-557-6437)   ext 1. Leave your message or your question. 

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Announcements:

• Flipping America Funding is live! Monday May 16th. 

News and Resources: 

• Our friends at MillionAcres.com tells us how to buy property with no money down: https://www.millionacres.com/real-estate-investing/rental-properties/6-ways-buying-rental-property-no-money-down/
• Very basic info on no money down buying. Ignore what they say about assumable loans. They virtually do not exist. Subject-To purchases are possible everywhere, but this story doesn’t cover them. https://themortgagereports.com/59359/invest-in-real-estate-with-little-or-no-money-down
• Mashvisor is usually a good resource - as in this read: https://www.mashvisor.com/blog/buying-rental-property-with-no-money-down-10-ways/
• Another good source for “no money down” advice: https://www.noradarealestate.com/blog/invest-in-real-estate-with-no-money/

Questions from Listeners: starr ask…”what would roger do”

• Evangelina, Baltimore, MD, “I understand the MAO formula. But I can’t find any deals that fit that number. Several of my friends are buying above the price that formula recommends and they seem to be doing ok. Can you explain some of the reasoning behind it?”
• Roderick, Tampa, FL, “I want to buy rental properties. It seems like if the property has $200/month or more in positive cash flow I should be fine. But one of my friends said I should check with you. No offense but I had never heard of you until now. Am I missing something here? $2400 a year is good money and with 10 of those I can quit my job.”
• Stephen, Boulder, CO, “Can you explain the difference between cap rate and cash on cash return? What should I be looking for when buying a single family rental?”
• Sherry, Sebring, FL, “What are the key steps when buying a flip project in another town?”
• Lynetta, Jackson, WY, “We want to bounce back and forth between Jackson and Austin, TX, you know, avoiding the weather extremes but getting in some skiing when we want, etc. We are both in our mid 50’s and our question is should we buy something in both places or just do longer-term rentals? We could pay cash for both places, but can’t help but wonder if our cash is better off elsewhere.”
• Rhonda, Milwaukee, “Estimating a rehab is overwhelming to me. I just don’t know where to start. Please help.” 

Motivational Quote:

One of Henry's favorite quotes is "imperfect action is better than perfect inaction." Harry S. Truman.