Real Estate Investment Business
Episode 956: Real Estate Investment Business, with Mike Makredes
Real estate investment business, a podcast with Mike Makredes. Learn how to achieve passive income by pursuing a real estate investment business.
Mike Makredes is from Fresno, California and is working in the real estate investment business. He has been in sales all his professional life, and currently working in the Ag industry for the largest melon, broccoli, and corn grower in the US. He handles sales for over 12 million cases ($150 million) of produce per year.
What you will learn from this episode about real estate investment business:
- How Mike’s family’s sacrifice, splitting up the family to move to the US from Greece to build a better life for their kids, pushed him to build a legacy for his family
- How the residential real estate market today differs from the market after the 2008 crash, and how Mike’s real estate investment business has evolved
- Why now is a great time to sell your home, even despite the global pandemic, as some markets are at all-time highs and supply and demand seem to be stable
- Mike defines a “terms deal” and explains how it benefits sellers while also helping buyers who wouldn’t necessarily qualify for a mortgage loan today
- How Mike and his team value residential property, and how the added time a buyer receives from a terms deal can help build up their credit and a positive track record
- Why business owners specifically often find it challenging to prove their ability to pay a traditional loan, and why terms deals may be ideal for home-buying business owners
- How selling a home through terms can save you as much as 9-15% of the value of your house that you would lose through fees and commissions by selling traditionally
- Why a staggering 80% of people wouldn’t be able to prequalify or qualify for a traditional mortgage right now
- How Mike’s terms business allows him to market to a much larger buyer pool than sellers would be able to through a traditional real estate agent
- Why “rent-to-own” often has a negative connotation, and how Mike and his team structure their deals to benefit and protect everyone involved as much as possible
- How you can be a part of a real estate investment business and achieve extra income
Resources:
- Website: http://mtmpropertysolutions.com/
- Email: [email protected]
- LinkedIn: www.linkedin.com/in/michael-makredes-8359211aa/
- Facebook: www.facebook.com/MTM-Property-Solutions-Inc-1410920649238036/
- Want to be part of a real estate investment business? Watch these videos first!
Additional Resources:
- Sell With Authority by Drew McLellan and Stephen Woessner: https://amzn.to/39y7x13
- Predictive ROI Free Resource Library: https://predictiveroi.com/resources/
- Stephen Woessner’s LinkedIn: www.linkedin.com/in/stephenwoessner/
- Listen to this related real estate investment business podcast with Hunter Thompson
Real Estate Investment Business: Full Episode Transcript
Get ready to find your recipe for success from America’s top business owners who knows about real estate investment business here at Onward Nation with your host, Stephen Woessner.
Good morning. I’m Stephen Woessner, CEO of Predictive ROI and your host for Onward Nation, where I interview today’s top business owners so we can learn their recipe for success, how they built and scaled their business. In fact, over the last several months, I’ve been talking about it quite a bit about how my team at Predictive ROI recently rebuilt our free resources section on PredictiveROI.com, so you can now download free practical and tactical guides for everything forum.
How to build out your own authority sales machine. Everything from how to create your ideal client avatar, how to create a value ladder, a sales funnel, and how to make sure your content strategy aligns with the ten truths to what makes someone an authority within their niche. Just go to PredictiveROI.com/Resources and as always, everything requests. It’s 100% free and we will send it right to your inbox.
Before we welcome today’s guest, I wanted to share some additional context around why I asked Mike Makredes to join us. First, Mike is a real estate expert and specifically in helping homeowners as well as homebuyers put together deals that are based on what he and his team call terms now. Terms deals. They’re not new. They’ve been around since the 1800s, but they’re gaining in popularity.
And right now, I will tell you Onward Nation terms, deals are surging. Well, why is that? Even before Covid in the current recession, it was an uphill climb for a business owner. As you probably know, it was an uphill climb for us as business owners to get traditional financing. Even if an owner had solid credit. And now during the recession, traditional financing is even more challenging.
Well, okay, so let’s flip that scenario. Let’s also say that maybe you as a business owner, you already own your home. Maybe you have some equity. But because the world is much different than it was just a few short months ago, well, maybe you want to get out from under your mortgage so you can reduce monthly expenses as quickly as you can, so that you can focus and continue to steer your business toward calm waters.
Well, a terms based deal can help you do exactly that in a very short period of time. That’s why Onward Nation, I wanted Mike to join us. If you already own your home and think you might want to sell, or if you’re wanting to buy, but running what you know will be a gantlet working with a traditional lender doesn’t sound appealing, then the insights and wisdom that Mike shares during this conversation are going to be super helpful as you map out your next steps.
So without further ado, welcome to Onward Nation, Mike.
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Real Estate Investment Business: Mike Makredes’ Introduction
Hi, Steve. Thank you for having me today. I’m excited to be here. Well, I’m excited that you said yes. And I’m grateful that you took time out of your compressed schedule. So, Mike, before we dive into all of the questions that I want to ask, actually take us behind the curtain.
Tell us more about you, your path, your journey, your story. And then we’ll dive in. Sure. I’ll. I’ll take you back to my roots first. I am a second generation Greek American. My grandmother and my aunt moved over here first. I would say back in the late 70s, by themselves. My mom and my grandfather stayed back in Greece because they still had business to do.
As far as, you know, selling property that they had and also his business that he had to eventually sell that off. So they made the sacrifice of splitting up their family to make the move to the US for, you know, a better life, right? and to me, I keep looking back on that as the sacrifice that they made.
You know, for me and my brothers. Right. And I can’t imagine being separated from my wife and, and child for that long at the time. and just knowing what they did, back then kind of sets up the reason for what I’m doing today, right? I want to build something that creates a legacy for myself and my family, to kind of build off of what they did.
Right. And that’s what drives me every day. That’s what pushes me. And it’s what makes me feel good about what I do in my business. As far as helping family. Right? Family is a big thing for me. Everything comes back to family. And the values. So that’s going back to, what? And why, what I do.
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Real Estate Investment Business: Everyone Wants a Roof Over Their Heads
I feel like it’s a big portion of me. Why? So would it be fair to say that because of this, you know, the deep family connection that you obviously have, the sacrifice that previous generations made for you? Is that why, owning a real estate investment business is so, like, a great fit for you? Because, you know, we’re talking about family.
We’re talking about values. We’re talking about home. And so for you to be able to help sellers, buyers and so forth, that just connects back to your why. So is that why? Yeah, that’s exactly why and I think real estate’s great because everybody needs a place to stay, right? Everybody needs a place to live or a roof over their head.
And when you’re helping both sides of the transaction, as we’ll get into deeper later on here in our conversation, it makes you feel good, right? It makes you feel like you’re doing something good for the community, good for their families. and you’re giving them the opportunity to live a better life as well. Right? it just comes back down to the family, right?
Family is number one. And I think that your mindset and how you approach everything as win-win, is very compelling. which is, I know, an attractive part to sellers and buyers who work with you. as part of that process. So thanks again for saying yes to share your insights. So again, the world is much different today than it was just a few short months ago.
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Real Estate Investment Business: Residential Real Estate Market
And, so let’s set a foundation here, for Onward Nation business owners. So if you were to share your insights or maybe your opinion on the health of, let’s call it the residential real estate market here in the US, like how would you describe that? Well, I mean, if we can go back to just 2008 not too long ago and could kind of compare it to right now, I feel like, back then, buyers and sellers were far and few between.
Right. Compared to the circumstances we have today, today is much different. There are still plenty of sellers and buyers out there. It’s just the financing part of everything that is making it difficult for, you know, the sales transactions to go through. and that’s where we come in to kind of give both sides the benefit, and achieve the goal that they’re both trying to do, and make a deal work, with our terms.
Okay. So, when you mentioned the financing piece, because I know that you’re on the front lines every single day, you’re working with business owners. Who are they? They want to be home buyers. Maybe they’re already homeowners, different circumstances and so forth. So let’s talk about the availability of financing. So what are you hearing on the front lines about either lending criteria, how it’s getting tougher.
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Real Estate Investment Business: The Available of Financing
So what are you hearing as far as the availability of financing? I mean, the financing is out there. They’re just increasing the standards. Right. As far as the down payment that you need. you know, maybe the debt to income ratios have to be a lot lower than what they previously had. I mean, we’re talking to several sellers day in and day out, and quite a few of them have had accepted offers, but they all fell through because the buyers couldn’t get it completed because of what has changed from this pandemic.
So, we’re, we’ve been helping those type of clients find buyers who definitely make enough cash to afford the property. They just need time to, you know, get their ducks in a row to get the financing in place. And we help structure all that, and get them there to the finish line. Okay, so let’s say that I am, let’s say that I’m a business owner.
I’m also a homeowner. and I want to sell my house because I’m thinking, geez, you know, I’ve got this mortgage as I’m trying to free up as much cash as I can in order just steer my business in a calm waters. Maybe this would be the time to sell from just like a reducing expenses perspective, but maybe that business owner is also nervous because it’s like, well, geez, we’ve got a global pandemic going on.
Is this really the best time to sell? What am I going to actually get for the house? If I am able to sell. So help us there. Help, help the business owners who are listening to right now, like, decide whether is this truly a good time to sell? Definitely a good time to sell. markets are, you know, at some areas, all time highs, you know, so you could definitely maximize the value in your house.
Especially, you know, going through us will be able to save you quite a bit of money, right. in regards to, other aspects of a sale, right, where agents come in, you know, and they charge commissions, closing costs. In some cases, we cover those as well. and then on top of that, we pay you full market value.
So, yes, it’s a good time to sell. I still feel like the supply and the demand is still in range, where home prices are going to stay where they’re at. Unless, you know, something catastrophic. More was to happen at this point. I mean, I don’t know what else could happen to lower the prices, but usually in the end, it still comes down to supply and demand, regardless of a pandemic or not.
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Real Estate Investment Business: The Fees Involved
That drives pricing up. Right? So I feel like the building of new homes and things like that are down, supplies are down. Building is very expensive nowadays. So that there’s a void there right where the supply has been kept in check for a while, where demand has kind of stayed and gone up.
So, I think overall, right now is a great time to sell, especially if you’re able, if you have just time on your side, to save right on those fees and things. Great time to go through our term sale. Okay. So let’s put some additional foundation here in place for Onward Nation because we’ve mentioned terms a couple of times.
Also, I’m sure you piqued some of our listeners’ interest when you mentioned fees and maybe potentially avoiding some fees and so forth. So when we’re thinking about a term deal, and again, I know that these have been around since the 1800s. And this is where your depth of expertise is in the term side. Like give us give us some framework here.
What does that mean? Well, basically on the seller side, it’s you and I would basically agree on a price. We would lock in your equity, we would take over all responsibility of the property or maintenance, upkeep, payments, taxes, insurance, absolutely everything, and then cash you out on a before date that we both agree upon. Okay.
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Real Estate Investment Business: Cost to Upkeep the Property
Typically the term can run depending on the numbers, right? Depending on the numbers, it can run anywhere from 24 to. We even have some deals that are ten years long. it just all depends on what you’re looking to get out of the home and what fits. You know, your needs and on how long you could wait right.
And definitely the equity that you have in your property compared to the value. Right. That all comes into, you know, into our analysis on, on what we’re going to need to hit your numbers. Okay. So on the seller side, that’s what that means on the buyer side terms, you’re buying on terms. So you’re coming in where you do.
We do require a down payment on the property, typically anywhere from 3 to 10%, of course, depending on the property as well. And you would rent the property until you had everything else in place to, be able to apply with a lender, to get finance. So you’re locking in your price now and then, financing, a couple of years down the road.
Got it able to live in the property without even getting the loan in other words. So. Okay, so let me, let’s explore both of these separately here. So, I’m a business owner. I’m a homeowner, and I’m deciding that, you know what? Let’s say that maybe my house payments $2,500 a month.
Yep. and I’m thinking, geez, you know, right now, as I’m trying to put everything I can into the business and perhaps my family and I, we could rent a less expensive condo, apartment, whatever. Let’s say it’s $1,500. So net savings, about $1,000 a month. So if I’m understanding correctly, I could do a deal with, in terms of where, somebody could come in and purchase the home.
I would then move into the lesser expensive apartment condo, whatever was suitable, and then that $1,000 a month I’m now saving, right? I’m not responsible for the mortgage any longer. Right. Well, we would make the payments directly to your lender and we would also usually cover the payments are including taxes and insurance, but we would cover it all.
We would cover all, including upkeep and maintenance. So you’re not going to even be a landlord at that point either. So if you think you’re going to rent your place for 2500 a month, there’s still a cost to upkeep the property. And, you know, you still have expenses throughout the year that come up. You know, you could have, you know, a toilet that breaks.
You can have a leak here. You know, something else happening that’s not going to be on your shoulders in this case. We take all that off your shoulders and we handle it all. So we would cover that $25,000 payment. So it would be a true thousand dollars savings, compared to a renter. Okay. And then let’s say that I also have maybe a small amount of equity or maybe if it’s a, maybe a large amount of equity that’s in the property.
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Real Estate Investment Business: Figuring Out the Payment Terms
So what happens to that equity? Like, am I forgoing that equity or do I still get that equity at some point? Yeah, you will get that equity at some point on or before the date that we agree upon. So we would lock that in at the time of our signing, right of our agreement. Okay. So, and then you would get that once the buyer, finances the property will pay off the balance of a loan and then write you a check for that amount that we locked in on our agreement.
Okay. So now let’s say that the business owner, homeowner, let’s say that that person’s house is worth, I don’t know, $300,000. And so now or to do a terms deal, does that mean that they’re, you know, signing away their house for 225,000 or 250,000 is more than 300,000. Like how is that evaluated? Yeah.
So we’ll pay full market value like I said. So we go according to the comps in the area of course. And then we would come to terms on the equity of that number that we figure out and the number that you’re looking for. Right. If we’re in the same ballpark, we would lock in that difference.
Right. So the contract that we put together would be off the balance of the loan. Right? That’s on the house at the end of the term and then write you a check for such and such amounts. Right. Whatever it may be that we agreed upon. Got it. Okay. Yeah. Interesting. Okay. So then on the buyer’s side.
Here again if I’m a buyer and I’m a homeowner. Excuse me. That’s not what I meant to say. If I’m a buyer , that’s what I meant to say. So, if I’m looking to buy but I’m a business owner and knowing that, literally the gauntlet that as a business owner, you’re self-employed, that you’re gonna have to go through, in order to get traditional financing.
It sounds like, if I understand you correctly, like I may have some cash saved up or whatever that I could use as my down payment. And then I get into the home. And then if I’m tracking with you being in the home for X period of time, that essentially gives me a solid track record that I can then use when I go to get a traditional 30 year mortgage or whatever at the end of that time period, am I tracking with you?
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Real Estate Investment Business: Lock In the Price
Exactly. There are certain lenders that I use, that they know how we work. They know our system, they know our program. And they’re able to use that as a benefit towards the buyer of having a track record of making those payments, which usually are in line of what the loan payment would be at, right, so that it builds up some good history there.
It also gives you time, as a business owner, I mean, normally the business owners that we deal with, right? They definitely have enough cash flow. They just don’t show enough. Right on their taxes. Right. So they need that two year window to have a record. Excuse me, a track record of making a certain amount to qualify for the loan.
So, you’re able to live in the home, at the same time, maybe even save more to put down to help you out with a lower payment going forward and to get your ducks in a row. Really for the refinancing paperwork to prove that you make a certain amount of money to qualify.
But we locked in the price right at the time of moving it. So, it is very important that you’re able to lock in the price for, you know, a couple of years out. So any equity that you gain over that time period, goes to the benefit of the buyer. As you were just walking us through that, I was just thinking the scenario of, okay, as a business owner, it’s often that, you know, credit sources, whether those are credit card companies, lines of credit that kind of stuff, whatever, where those are tied to your social, and as a business owner, always trying to get that tied to the business end whenever possible.
But sometimes it’s not possible. And so we as business owners, we carry, you know, whatever the debt is, on the business that is really, truly on us, you know, because it’s tied to our society. And so even though the business may be servicing that debt, our personal credit score is impacted negatively as a result of that.
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Real Estate Investment Business: Maintain A Positive Credit Score
So I think if I’m tracking with you here too, let’s say the business owner has a lower credit score just because of the debt load for the business that’s tied to their social status, not because they’ve done anything wrong or just a normal business owner. Right. it sounds like the time in the home, the two years, whatever the time period is, that could also then help, sort of season their credit score maybe a little bit.
And so then that track record would be helpful. Then when getting, like a 30 year traditional mortgage, right? Right. Well, you could either put more money down on the house or you could pay off other debts that would lower your debt to income ratio. Which would qualify you for more money, right? To borrow. and then also would increase your credit score if you’re paying down your credit on time, you know, that’s more history, a positive history on your credit report.
All that’s gonna be positive going forward for when you’re ready to apply for your loan, a couple of years down the road. So, it allows the buyer tons of different ways to, you know, put themselves in a better position for financing, while at the same time living in the home that they originally wanted to buy.
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Real Estate Investment Business: Agent Commissions
So, it’s a great program on both sides. Yeah, I can see absolutely the flexibility of this. Okay, so let’s flip back to the seller. So if a business owner is a seller, I think I heard you say, but I just want to go back to it to make sure that I understood it correctly. So can a seller actually make more money by selling their home on terms? Even though they might be deferring their equity, they’re going to lower their monthly expenses in the whole kind of mortgage versus rent scenario that we just talked about.
But can they also make more money by selling on terms? Oh yeah. So traditionally. Right. So a seller would get an agent to sell their home. typically that’s in the 5 to 6% range. and then you have closing costs, which are in the 2% range, sometimes lower if you’re lucky right there, you know, you’re at 7 or 8%.
And then you have another factor that a lot of people don’t think of when selling their home. And that’s the buyer. Usually when you’re dealing with an agent, the buyer is pre-qualified all the time. An agent will not work with a buyer unless they’re pre-qualified with a bank or a lender. Right. So when they have that purchasing power, they have negotiating power, right?
They’re able to negotiate the price. And typically on average, that’s at least 2% off of the purchase price. So if you take all those factors in, you know, they can lower the purchase price anywhere from 2 to 5%. You have, you know, 5 or 6% of the agent commissions, and you have the closing cost of another two.
So you’re looking at a range of anywhere from 9 to 15%, where you can lose right off the bat on your house. Just selling it traditionally. Wow. I don’t know about you, Steve, but, I mean, 10% on 300,000. That’s 30 grand. 400,000. That’s 4500. That’s 50,000. We’re going to save you that 3040. 50,000, whatever it may be in your pocket.
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Real Estate Investment Business: Reducing Financial Pressure
If you just have time on your side. Right. If you don’t need the equity right away. Yeah. Okay. So, again, Onward Nation business owners who may be looking to sell because that gives them some financial flexibility. So interesting. All right. So going back to the mortgage, the rent scenario, that owner in that scenario gets to free up $1,000 in monthly cash flow, $12,000 a year.
Yep. Which could be very helpful as they continue to steer and navigate their business toward calm waters. Right. Reduces the financial pressure. And they’re not forgoing any equity. They’re deferring equity. They’re not forgoing any equity. But as you just mentioned, they tend to order the 9 to 15%. I think I heard you say, n like, kind of totaling all those costs together, on a three, 4 or $500,000 house, obviously can be a very significant number.
Sure. and then whatever the term is, 24 months, 36 months, 48 months, whatever that number is, then and then receiving that equity at the end could actually be a really interesting cash infusion back into their personal financial statement, which they may decide to keep on their personal side, or they may decide to invest in their business depending upon the state of where their business is.
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Real Estate Investment Business: Managing the Money
That’s a really interesting scenario. Yeah. I mean, if you had a $300,000 home, right, a $300,000 home, that’s a 10% savings on your property, right? So I don’t know about you right now. But all these savings accounts and, you know. Right, money market accounts, savings accounts, they’re not paying not even 1% return on your money, right?
Right now. But you’re 10%, you know, if it’s over a three year period, you know, you’re looking at three 3% per year. I mean, that’s easily three times the return you would get if you were just going to stash that away. So might as well keep it in the property. Right. Make that amount. And, let us handle it for you.
There’s no headache about it. You don’t going to have to manage it in a month out. We’re taking care of all that for you. So I don’t know a better deal where it’s all hands off and offer your shoulders. Then. Then this. Yeah, that’s really interesting scenario. Okay, so what is often, the most helpful way to illustrate this or, you know, through some examples.
So, do you have maybe an example or two where helping a seller in how they benefited from the deal. Yeah. Well, we work most of the time with homes that are move in ready. Sometimes these move in ready homes are not quite ready. Right. Maybe sometimes they have a few things tha, could be oddball.
Maybe nothing wrong with the home, but just, like, visually and marketing wise, just. It’s a difficult sell, right? but when you’re dealing with us, we’re dealing with a different type of clientele, right? We’re dealing with the 80% who are out there who can’t qualify for a mortgage right now. That’s a big stat that I didn’t throw out there earlier.
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Real Estate Investment Business: Bridging The Gap for Your Customers
That’s a big eye opener. Right. Okay. So hang on a second. What do you mean 80% can’t qualify for a mortgage. So 80% of the population right now out there regardless that’s a national average. Can’t walk into a bank and get qualified and pre-qualified for a mortgage only 20% out there. So when you’re marketing your house with an agent, you’re only dealing with 20% of the population, the buyer’s market that’s out there.
Wow. Okay. So and it isn’t because 80% of the population is not because they’re not employed or don’t have good jobs or savings or anything like that. It’s just because probably a big chunk of them are self-employed. There’s 28 million small business owners in this country, and so they’re all going to have to run that gauntlet right? Yeah.
They’re either self-employed or they might have had a ding on their credit back when they were, I don’t know, 21 years old, maybe didn’t pay a credit card back then where it just really hurt their credit and they just really never built it up. But they have a great job. They, you know, have the money to afford the property.
They just can’t walk in and qualify for a mortgage. So we help bridge that gap and get them to the finish line, you know, and get them there. So, but what I’m trying to get to is that when you’re marketing your property, if you were to have one of those difficulties. Right, we’re marketing to a much larger buyer pool.
So, and not only are we marketing to a much larger buyer pool, those buyers that we’re dealing with, or these buyers who we’re dealing with are not they’re not really picky, right? Because they don’t have the they don’t have the ability to be picky because they’re not pre-qualified. You know, they’re the only ones in town offering terms to allow them to get into this deal.
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Real Estate Investment Business: Finding The Right Buyer
So, it’s either this is it or nothing, right? You keep renting, an apartment or a house or whatever you’re doing. So I have an example. Going back to your question, do I have an example? Yes, I had a house. That’s very nice. It actually was a very nice house. It was just somebody who was more, I would say, on the modern side.
So there’s a more of a modern look to it. But it was an older modern. It was modern, probably from like the early 90s. And it was for pre-qualified buyers to walk in there. The first thing they were probably thinking was, well, I really have to update this place, right? Because they want to look a lot newer, you know, if they’re paying that much for a home, you know, it’s a half million dollar house, a great neighborhood.
And so there was an expired listing they had on the market for six months couldn’t get what they wanted. So, I stepped in, I told the sellers that I would sell this house. I can definitely sell this house. There’s nothing structurally wrong with it. It’s just the style. Right. And, found a buyer within 30 days on that house who actually fell in love with it.
They’re like, this is beautiful. We love this house, you know? So there you are, fitting, accomplishing a need on the buyer side who loves the home, who can afford the home that, you know, she, not going to obviously get personal with who they were, but, you know, they were both in the medical field. Are nurses? It was a couple that had one room in the house.
So they definitely made enough money. had a great track record on the unemployment side. They just had credit that was dinged up, you know, and that’s it. So I sold the house. Sellers were ecstatic.And both sides, we accomplished our goal on both sides. They got the price they wanted, and the buyers got the home they wanted, you know, so very happy on that deal.
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Real Estate Investment Business: The National Property Team
And there’s several like that. I mean, that’s why we feel good, what we do, you know, we’ve had couples who were crying in the kitchen signing their papers. Right. They’re actually getting a house that, you know, they never thought they could get right. You know, because there was not the opportunity, we weren’t there to help them get to that point where they can get financing, you know, and, so we feel good on both sides of what we do.
That’s why this business is so great to be a part of, and help grow. So very excited for what’s to come. I love this. so I know you’re part of a national property team. You and I have talked about that just briefly before, but, so Onward Nation business owners can hear about that, too.
What? What is the national property team? National property team? Several associates were a part of the national property team group. and they’re all over the country. I mean, almost in every state I can think of right now. all of the West coast, East coast, there’s tons of them. And we all do the same types of deals.
We’re all doing the same terms, deals with the same guidelines. and, we help. We love helping. We all have the same common goal of helping both sides of the transaction. We want to keep as much money in your pocket as possible. Right? It’s your equity. You should keep it. You know, as one of our associates commonly says, to the sellers, and, yeah, we just all we all have, have been growing and helping, the communities that we are a part of in many ways.
And the national property which just keeps growing. You know, we have a great track record. We all are in the Better Business Bureau, have ratings and are growing. So, very excited about what’s to come going forward. This is awesome. I really appreciate you taking the time to share your insights and expertise with Onward Nation.
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Real Estate Investment Business: Protecting The Buyer and Seller
Before we go, before we close out and say goodbye and any final advice you want to share regarding the real estate investment business? Anything you think we might have missed? And then please tell us the best way to connect with you. Mike. Yeah, one thing is just the common perception. We use the common terminology of rent to own or market our properties.
A lot of sellers sometimes. And buyers, they get the negative thoughts that go in their head when they’re thinking of these terms. But the way we structure them, we really protect the seller in every way. And same with the buyer on both sides. You know, the contract really benefits both sides as long as everybody goes through with their side of the agreement.
Right. And when we’re doing these, you know, these purchases, we call them, you know, deeds are staying in the seller’s names, so they’re not, you know, signing anything off unless we’re doing some type of owner financing or something like that. But either way, they’re protected with their asset, which is their property. Right? It’s always going to fall back to them regardless of how we structure it.
So I mean, worst case scenario, we could pay your mortgage down, you know what I mean? And if something were to happen to me, you would still have the house and a mortgage that’s paid down. you’re just in a great position when you’re a seller, so there’s really nothing to be worried about especially if you have time on your side.
So that’s just a common perception. I wanted to get out there that if you have negative thoughts on it, nothing negative about it because we’re handling everything for you, especially how we structure it. Got it. Thanks for that.
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Real Estate Investment Business: How to Connect with Mike
Best way to connect with you, Mike. My website is MTMPropertySolutions.com. My email I, you know, respond to everybody’s direct emails.
[email protected]. Thank you very much my friend. Okay, Onward Nation, no matter how many notes you took or how often you go back and re-listen to Mike’s words of wisdom about the real estate investment business, which I sure hope that you do. The key is you have to take the insights, the expertise, the wisdom that he shared with you today.
Take it and apply it. Take action upon it, put it into practice and accelerate results. And Mike, we all have the same 86,400 seconds in a day. And I am grateful, my friend, that you said yes, to come on to the show, to share your expertise, to help Onward Nation business owners through this crisis, giving them some options to consider this extremely helpful.
Thank you so much, my friend. Thank you, Steve, for having me. Excited to be here. Avid listener, and I’m glad I’m hopefully able to help people that are out there. as your listeners looking forward to this episode is complete.
So head over to OnwardNation.com for show notes and more food to fuel your ambition. Continue to find your recipe for success here at Onward Nation.
Watch these videos to be part of a real estate investment business
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