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The Best Ever CRE Show

JF583: How He Bought 19 Properties Since 2012

The Best Ever CRE Show

Best Ever CRE

Business, Investing, Entrepreneurship

4.7996 Ratings

🗓️ 7 April 2016

⏱️ 30 minutes

🧾️ Download transcript

Summary

He admits that he lacked a true focus...until 2012. He was approved for a large line of credit which he would use to buy an eight unit building. From there the momentum built and didn't stop! Hear this investor's story and how he eventually wants to end up.Best Ever Tweet: Deals are like buses, there's one every ten minutes.Nick Patterson real estate background: Owner of Kale Realty Chicago and has 375 agents doing residential sales and rentals Also with a partner they own around 200 rental properties from 4 to 24 units Say hi to him at joinkale.com and www.wpcproperties.com Based Chicago, Illinois Please Take 4 Min and Rate and Review the Best Ever Show in iTunes.  Listen to all episodes and get a FREE crash course on real estate investing at:http://www.joefairless.com Need financing? Are you a buy-and-hold investor or doing fix and flips? I recommend talking to Lima One Capital. A Best Ever Guest told me about them after I asked how he financed 10 properties in one year. They are an asset-based lender with unique programs for long-term hold and fix and flippers. Click to learn more or, better yet, reach out to Cortney Newmans at Lima One Capital. His cell is 404.824.6121. Subscribe to Joe’s YouTube Channel here to learn multifamily and raising money tips:https://www.youtube.com/channel/UCwTzctSEMu4L0tKN2b_esfg Subscribe in iTunes  and  Stitcher  so you don’t miss an episode! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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1:05.0

And the reason is our specialty is purchasing the four hours, you know, rehab, rent, refinance, and then

1:12.2

repeat. So our ideal property is basically a horrible property

1:17.0

Best ever listeners I want to mention Lima 1 Capital and I found out about them

1:21.5

through a guest that I was interviewing on the show and he mentioned how he was scaling his business

1:27.8

He was actually buying 10 single-family homes within one year and I asked him how were you able to buy 10

1:35.2

single family homes and how are you financing that he's like oh well I just

1:38.7

use an asset-based lender that's like who is that and he told me it's a Lima 1 capital. I reach out to them afterwards got to know them and they are the sponsor of today's episode because they've got some unique lending programs.

1:53.0

One of them's called Rental 30,

1:55.0

where as I mentioned they're an asset-based lender,

1:59.0

so they're lending based on the properties appraised value

2:02.0

as well as they look at the down payment

2:04.9

that you're bringing to the table in the cash reserves. They'll lend up to 75% loan to

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