#190 with Marcus Merchant: Getting Comfortable Investing Out Of State & Taking Loans Against Your Crypto Currency
Millennial Millionaire Real Estate Podcast
English - March 08, 2021 18:51 - 53 minutes - 97.5 MB - ★★★★★ - 56 ratingsInvesting Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In this episode, Jonathan Farber interviews Marcus Merchant on his journey from learning about real estate investing on a red eye corporate flight to completing three deals since March 2020 as a growing investor. Marcus is a long distance real estate and crypto investor based in California. In this episode, we dive into topics like: getting comfortable investing out of state, challenges finding creative financing for small properties, creating your strategy for distance investing, and more!
Top Takeaways:
How to get comfortable investing across the country - 10:45 - 12:30
A major overlooked benefit is if a deal does go sideways, you may be out 5 instead of 6 figures
The exit strategies in an expensive market are limited compared to an affordable market
Expensive markets are generally much less forgiving to new investors
Creative financing challenges in small dollar properties - 16:15 - 18:00
Hard money lenders typically don’t want to lend less than around $100k, to $50k at the lowest
Because of the surrounding costs, a loan can become predatory below these levels
The return for the lender at such small amounts is also smaller than needed
Developing an out of state investment strategy - 23:15 - 25:30
Local Facebook investor groups are a fantastic way to network and build connections
If a name like a contractor comes up from multiple sources, they’re worth talking to
A thorough inspector can save you thousands or more on closing or from a disaster
How to bring value to Marcus Merchant:
Looking for JV partners on flips and midsized multifamily
Resources:
Social Links:
linkedin.com/in/marcusmerchant
connectedinvestors.com/member/marcus-merchant-1
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA