Mastermind Monday - Paul Baird, Mike Webb, Bill Kenny | 508
Epic Real Estate Investing
Matt Theriault
4.7 • 955 Ratings
🗓️ 29 October 2018
⏱️ 30 minutes
🧾️ Download transcript
Summary
Meet Paul Baird, Mike Webb, and Bill Kenny, 3 of this country's most prolific and successful real estate investors! Find out how their current real estate businesses look, the impact that competition has on Paul's, Mike's and Bill's businesses, and why you should mingle with investors.
Transcript
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| 0:00.0 | This is the Epic Field Report. |
| 0:04.0 | So Rob, hey, it's good to talk to you. |
| 0:07.0 | I saw inside of Follow Through Friday inside of our Epic Pro Academy members area on an amazing deal you did. Congrats. |
| 0:16.2 | Thank you. Yeah, so I'll just read it for everyone so bring on up to speed. |
| 0:20.8 | Closing on our third rental in St. Paul, Minnesota, purchase price of $146,000. |
| 0:27.0 | Leverage delay refinance, collected four months of rent with no mortgage due, 12 month lease signed with increase, appraised value at 2.30. |
| 0:35.0 | The total cost to acquire this property was only $1,600. |
| 0:38.0 | So that's amazing. |
| 0:40.0 | Let's kind of go through each part of that. |
| 0:41.3 | How did you find this deal? |
| 0:43.0 | Really I have to thank the Epic Pro Academy family. Another acquaintance here in Minneapolis presented |
| 0:50.9 | the deal to me and we really worked closely to do our due diligence and see what we could we could work out with the |
| 0:58.1 | Ultimately purchasing property so |
| 1:00.1 | That's off to the academy members. Cool, so it was a referral inside the family then. |
| 1:05.0 | Exactly, exactly. |
| 1:07.0 | Very good. |
| 1:08.0 | I love to hear that and especially when it has a really nice ending. |
| 1:10.0 | Exactly. |
| 1:11.0 | So you purchase price of $146, and then you've leveraged |
| 1:15.0 | delayed refinance. Can you explain what that is? |
| 1:18.0 | Yeah, so I think most people are familiar with a traditional cash out refinance. |
| 1:22.4 | A delayed refinance is a little bit different, |
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