How He Bought 4 Duplexes With No Money Down -- Seller Finance | Subto Breakout
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 29 December 2023
⏱️ 33 minutes
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Summary
On today's Wholesale Hotline Podcast (Subto Edition), Pace Morby sits down with Jake Cross to breakdown his real estate journey.
Show notes:
- Jake's background and how he discovered real estate.
- How watching his father struggle sent Jake on a journey for generational wealth.
- Jake breaks down a deal.
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❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a Podcast for entertainment purposes ONLY ❎
Transcript
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| 0:00.0 | You're listening to the Sub 2 Breakhouse with Pace More Beyond the Wholesale Hotline Podcast. |
| 0:13.0 | Hey guys, I'm here with Jake Cross today and Jake is going to give you the answer. |
| 0:19.0 | The answer to the question of, can I do a deal with no money out of my pocket? |
| 0:22.5 | Another question that a lot of people have is, how do I get paid while putting properties in my |
| 0:30.8 | portfolio? Because a lot of people start wholesaling so they can stack cash. They go, oh, I'm |
| 0:36.6 | wholesaling pace because I need to stack cash. I go, oh, I'm wholesaling pace because I need to stack cash. |
| 0:39.2 | I go, man, you got to put properties in your portfolio. |
| 0:41.9 | And they say, well, the problem is pace. |
| 0:44.5 | I'm doing wholesaling so I can put cash in the bank. |
| 0:48.0 | Today, Jake is going to talk about how he accomplished both. |
| 0:51.4 | He was able to put eight units, that is four duplexes, in his portfolio, seller finance, |
| 0:58.6 | zero percent interest. He did have to put 10 percent down, but Jake's a smart guy. He learned |
| 1:04.0 | how to raise private capital in our community. And he was able to bring private capital to the |
| 1:08.0 | deal and ultimately get paid to put eight properties in his |
| 1:11.8 | portfolio. So we will get to that today. But I want to know the man behind the deal, where he came |
| 1:16.7 | from, because a lot of people jumping into the game of real estate assume that myself or other people |
| 1:22.8 | in our community just were born with these skills and these levels of understanding and these |
| 1:27.4 | mindsets |
| 1:28.1 | and all of those types of things. |
| 1:29.3 | I want to point out today that that is not the case and that Jake was in a position |
| 1:35.2 | that you might very well be in of, I'm trying to learn this game. |
| 1:39.3 | I'm trying to start from scratch. |
... |
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