#187 with Tim Gordon: Discovering a Real Estate Meetup to Completing Over $45 Million in Transactions Through SEO

Millennial Millionaire Real Estate Podcast

English - March 03, 2021 18:34 - 50 minutes - 93.4 MB - ★★★★★ - 56 ratings
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Previous Episode: #186 with Kyle Mitchell: How to Get Started in Multifamily Investing & Scaling to a 150 Million Dollar Portfolio

Next Episode: #188 with Matt Thomas: How to Be a Top Performing Broker & Jumping into Massive Action

In this episode, Jonathan Farber interviews Tim Gordon on his path from discovering a real estate meetup while in sales to completing over $45 million between buys, flips, and wholesales. Tim is a flipper and wholesaler based in Oceanside, CA. In this episode, we dig into topics like: using the tools available to scale your portfolio, understanding the details of FHA 203k loans, finding a contractor to follow through on a 203k, and more!

Top Takeaways:

Utilizing small ownership tools to quickly build your portfolio - 8:00 - 9:30

Keeping a W2 in the early days will give you access to loans you couldn’t get otherwise

FHA loans, like a 203k, can be combined with other financing to minimize the down payment

Combining these with the right deal can be a springboard to scale your business

The intricacies of FHA 203k loans - 10:30 - 12:45

Your first priority has to be convincing the listing agent that you can close the deal

To have that confidence in yourself, you have to have a solid mortgage broker

The last critical component is finding a contractor to jump through the hoops

Locking in a contractor that will stick through the paperwork - 16:45 - 19:15

Come in with the expectation that a contractor doing an FHA 203k is going to cost more

You would rather spend the extra on a professional than cheap out and get dumped