5 • 957 Ratings
🗓️ 11 April 2022
⏱️ 30 minutes
🧾️ Download transcript
In today's episode, Marco and his co-host highlight the importance of controlling the deal, putting correct contracts in place, and using them to your benefit. Stay tuned for more exciting details!
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0:00.0 | The reality is, if he didn't get what he needed, he wouldn't have bought it because it puts |
0:04.4 | Frank in a bad spot. And it puts the lender in the bad spot. You don't buy things that don't |
0:09.5 | check out. And if we can't check them out, we don't buy them. Welcome to the big fat real estate |
0:16.5 | checks podcast with Marco Kuzlowski, where we help investors like you get the knowledge and skills |
0:22.1 | you need to replace your J-O-B with passive cash flow for life. Hey everyone, welcome to a big fat |
0:30.0 | real estate checks. I'm here with Gabriel Eich, who I'm almost cuddling with, and then |
0:35.6 | Francesco Galuccio, who I'm now also almost making out with. We're all in the same room at the same |
0:42.0 | time. Hello. Been a while. Been a while that we've all actually since the first episodes that we've |
0:48.4 | all been together in the same place. We did a hundred and a half a line. Oh my gosh. The four |
0:54.8 | days to record half an episode. Yes. We did a lot more of this drinking than we did. Frank has his |
1:01.9 | Heineken. I have my sipping tequila and Gabe. He's laying into the coke. That's what he's doing right now. |
1:08.0 | It's cooked. Yes. Nobody will believe that. It is what it is. Hey, you know, it is what it is. You |
1:14.8 | do what you got to do. So in the last podcast, we discussed Frank's deal, who has closed one and |
1:20.0 | very quickly had been turning around this hotel. A lot of great lessons. Fortune is in the follow-up, |
1:24.7 | the barrier of numbers, weird numbers, the power of weird numbers, just so many really neat things, |
1:29.6 | and he had dropped a couple things about, oh, actually before I forget. If this is your first time, |
1:35.3 | I'll listen to this podcast. Please listen to the first 10. Explains asset-based lending. How |
1:41.0 | Frank was able to buy an asset using absolutely none of his own money. In this case, a hotel |
1:45.6 | even get the money to improve the hotel. So he has the budget to be able to do that to increase |
1:50.6 | the value of the hotel, purchasing and closing an asset that is worth a million dollars at closing, |
1:55.9 | that he actually got it for 750. And the value of the asset is actually over two million dollars |
2:00.7 | once he's done. So it's a very safe bet for the lender. And obviously Frank gets over a million |
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