• Investing In Real Estate With Lex Levinrad

  • Auteur(s): Lex Levinrad
  • Podcast

Investing In Real Estate With Lex Levinrad

Auteur(s): Lex Levinrad
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  • Résumé

  • Do you want to learn how to buy rental properties, wholesale real estate and flip houses? Join Lex Levinrad on the Investing in Real Estate Podcast and learn how YOU can get started investing in real estate today. This podcast is full of ACTION PACKED information and CONCRETE ACTION STEPS that you can start taking TODAY to learn how to start investing in real estate, buying rental properties, fixing and flipping and wholesaling houses. Join Lex as he talks about EVERY TOPIC related to INVESTING IN REAL ESTATE including wholesaling, locating deals, finding properties, flipping properties, hard money lenders, online auction sites, marketing for motivated sellers, building your cash buyer lists, deal structuring, fixing and flipping, buying and holding real estate long term, buying rental properties, buy repair rent and refinance, and investing in Airbnb. Lex has trained thousands of students from all over the world how to invest in real estate. Lex has personally flipped over 1,000 houses and he can teach you the one thing that everyone is looking for - FINANCIAL FREEDOM. Listen to Lex interview some of his successful students who have quit their jobs and now flip houses for a living. If you want to get MOTIVATED and INSPIRED by people who are actually flipping houses RIGHT NOW, then LISTEN TO THIS PODCAST. Lex will also introduce you to some of his real estate friends and he will interview some of the biggest wholesalers and flippers in the country. You will learn from the experience of real estate investors who are doing deals every single day, investors who are literally doing thousands of deals. Listen to this podcast so YOU can learn how to achieve massive results investing in real estate. If you want to learn how to invest in real estate and how to find, fix and flip houses for a living (and maybe even quit your job) then SUBSCRIBE TO THIS PODCAST.
    Copyright © 2021 Lex Levinrad, The Distressed Real Estate Institute, LLC.
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Finances personnelles Économie
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  • Bidding on Online Auction Sites

    Bidding on Online Auction Sites
    Feb 11 2025
    On today’s podcast episode, I talk about bidding on online auction sites, and buying bank owned properties and foreclosures. In order to understand buying foreclosures and bidding on bank owned properties on online auction sites, it’s important that you understand the foreclosure process and how it works. I will be covering this in detail at the Foreclosures and Bank Owned Properties Boot Camp next weekend. You can learn more about the Foreclosures and Bank Owned Properties Boot Camp at the link below: https://www.lexlevinrad.com/foreclosures-bank-owned-properties-boot-camp/ There are 4 stages to foreclosure: Pre-Foreclosure Foreclosure Foreclosure Auction Bank Owned Property Pre-Foreclosure In the pre-foreclosure stage, the homeowner is late on their mortgage payments. They can be 30 days, 60 days, 90 days or 120 days late. According to the Dodd Frank Act, banks cannot pursue a foreclosure lawsuit until a homeowner is 120 days late so any homeowner who is late up to 120 days (or until the bank initiates a foreclosure lawsuit) is considered in pre-foreclosure. You can market to these homeowners by accessing 30 60 90 day late mortgage lists from data providers and marketing to these homeowners before they go into foreclosure. Foreclosure After the bank has initiated a foreclosure lawsuit (known as “Lis Pendens” in Judicial States like Florida), the homeowner is now in foreclosure. Foreclosure is public record and you can get access to this data by using data providers like Propstream (you can get a free 7 day trial at https://www.lexlevinrad.com/propstream/) Many real estate investors download the foreclosure list and market to homeowners in foreclosure by mailing postcards and letters. Investors can purchase these properties before the foreclosure auction directly from the homeowner. On new foreclosure filings, a foreclosure auction date has not yet been scheduled, but after a few months, a foreclosure auction date may have already been set. It’s very important to understand this and to know if there is a foreclosure auction date and what that date is. Any investor can buy the property for cash directly from the homeowner up to theoretically the day of the foreclosure auction. In reality if you were using a title company and you were going to do a lien search, you would want to close at least a few days before the foreclosure auction which means you would need to sign a contract with the homeowner no later than 3 weeks before the foreclosure auction date. Foreclosure Auction Investors can register to bid on the property at the foreclosure auction which is held online by the County Clerk in most counties. I do not recommend buying at the foreclosure auction since you are not guaranteed to receive free and clear title and the property may have liens and building violations attached to it. At the foreclosure auction, the property is sold to the highest bidder. The bank will have a representative who is usually an attorney who will bid up to or very close to the amount of the original mortgage that was owed by the homeowner. This is done to protect the bank's interest for the amount of the money owed. In the event that the bank is the highest bidder (because other investors don’t want to bid that high), then the property will go back to the bank. At this point the mortgage is wiped out and the bank now owns the property and it becomes a bank owned property. Bank Owned Property (REO) Once the property goes back to the bank it becomes a bank owned property or REO (which stands for real estate owned by the bank). The goal of the bank is to get rid of this property as fast as possible. They do this by only selling to cash investors. They do not allow mortgages because the bank wants a quick sale and does not want to wait to see if the house will appraise or if the buyer can get approved. The bank only accepts cash offers and requires all offers to have a proof of funds letter showing that the buyer has the funds available to purchase the property. We provide a proof of funds letter to all students that are in our real estate training program. The ideal buyer for a bank is an investor that will pay cash and waive all contingencies including inspections. Why is this ideal for the bank? Because the buyer cannot back out. There are no appraisals, surveys, inspections or requirements to be approved for a mortgage, so for the bank this type of offer is the one that is most likely to close and sell fast for cash (which is what the bank wants). Once the bank owns the property, they assign an asset manager in their loss mitigation department to oversee the sale of the property. This asset manager hires a few local real estate agents and requests a BPO which is a broker's price opinion on what the property should be listed for and what the current value of the property is. The asset manager then chooses one of these agents to be the listing agent and list the property on the...
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    34 min
  • How To Find Deals in 2025

    How To Find Deals in 2025
    Jan 16 2025
    On today’s podcast episode, I talk about how to find deals in 2025. The market has shifted and 2025 will be a big year for change in real estate. The Current Real Estate Situation Real estate prices are up by more than 50% since 2020. The 30 year mortgage rate has increased from a low of 2.65% in 2021 to above 7% today. Anyone who purchased real estate before 2020 is sitting on a lot of equity, and most likely refinanced into a very low interest rate mortgage. These homeowners have no incentive to sell. This is one of the main reasons why inventory has been so low. But what about homeowners that need to sell their house because they are relocating, downsizing, or for any other reason? What about sellers that have lost their job, are in foreclosure, have become sick or disabled, or are unable to afford their monthly mortgage payments? Sellers Are Delusional We have sellers like this calling our office every day. And I can tell you that in my opinion most of these sellers are in denial and delusional. They still think that their house is worth what Zillow said it was worth two years ago. However the reality is very different. In order to sell a house you need a buyer. And that is where the problem lies. At the current prices and interest rates, the average American can no longer afford to buy a home. So buyers wait, while sellers slowly start facing the reality that real estate prices in Florida have declined. Investors that fix and flip houses for a living are feeling the pressure too. Price declines means they may flip the house for less than originally anticipated. Refinancing from a hard money loan means higher interest rates and higher payments. Many of these fix and flip buyers are sitting on the sidelines waiting for deals to materialize. If you are buying fix and flips in this market, make sure you are buying deep. If you were buying previously at 70 cents on the dollar, build in a margin of safety and buy at 60 cents on the dollar now. I am seeing amazing fix and flip deals with damaged properties. Focus on that if you are fixing and flipping. If you want to learn how to fix and flip make sure you attend my Fixing and Flipping Houses Boot Camp. Increased Inventory and Lower Prices The inventory of MLS listings has substantially increased over the past two years. Sellers that are motivated to sell are slashing the prices on their listings. Foreclosures are increasing and I am starting to see more and more short sales and bank owned properties on the MLS and on online auction sites. Some markets have already had substantial price drops of 20%. There have been a number of negatives for real estate over the past few years including higher prices, higher interest rates, more inventory, rising property taxes, higher insurance and higher HOA fees. Where To Find Deals Sellers that are truly motivated to sell are facing a market with less buyers. A seller that is motivated to sell because of property damage, fire, flood, or hurricane damage is having a hard time finding a buyer. Some of these damaged properties can be purchased at a low enough price that makes sense for a rehabber looking to fix and flip or for a landlord looking for a cheap rental. Look for damaged properties. Short Sales Sellers that have lost the equity in their home, (which is anyone who purchased after 2022) who want to sell are having a very difficult time too. They are realizing that they cannot get enough from the sale of their house to pay their mortgage off. They have already lost their down payment and some of these sellers are simply starting to walk away. This is an opportunity for you as an investor to purchase their property at a discount by having the bank agree to a short sale where they accept less than the balance owed on their mortgage. I am currently working on a few deals like this that are short sales. They were all purchased at the peak of the market. Foreclosures and Bank Owned Properties I anticipate that as more negative equity homeowners walk away, we will see more and more foreclosures and short sales. Many of these homes will become bank owned properties that will be listed on the MLS and on online auction sites like auction.com, and Hubzu.com. This is why you need to learn how to buy and bid on bank owned homes. I will be teaching how to buy and flip bank owned properties at the Bank Owned Properties Boot Camp which is coming up in a few weeks. Buying Subject To The Existing Mortgage Homeowners that purchased at the peak have lost the equity in their home. But they may have a really low mortgage rate of less than 3% and they may be willing to let you assume their mortgage. There are literally thousands of deals out there where you can buy a house from a seller and assume the mortgage. Learn how to buy houses “subject to the existing mortgage” and you will find many deals like this in 2025. I teach buying “subject to” at the Creative Financing Boot Camp. Seller Financing Older ...
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    45 min
  • How To Buy Bank Owned Properties

    How To Buy Bank Owned Properties
    Dec 3 2024
    BUYING BANK OWNED PROPERTIES On today's podcast episode I talk about buying bank owned properties. This is an important episode because pre-foreclosures and foreclosure auctions are sky rocketing in 2024, and many of these foreclosures that we are seeing now will ultimately end up as bank owned properties. It is important for you to understand how the foreclosure process works in your State so that you can better understand how many of these foreclosures will become bank owned properties and the timeline of how that happens. Typically, when you have not made your mortgage payment for 120 days, the bank can sue you and initiate foreclosure proceedings. But there is a substantial backlog of people who have not made their mortgage payments who are still not in foreclosure because the bank has not pursued a foreclosure filing yet. No one knows how many of these properties exist but an inside source that I have at one of the largest lenders tells me that it is a very substantial number. So anticipate many more foreclosures. Another thing to note is that now that prices have declined, there are many homeowners who purchased a property in 2022 or 2023 that have lost their down payment and lost the equity that they had in their home. Some of these homeowners may even be negative equity, meaning they could owe the bank more than what they can sell their property for. In situations like this, people have less incentive to keep paying their mortgage when there is no equity in their home. Add to that financial hardship like a job loss or a disability and it's easy to see how many of these homeowners will simply walk away and stop paying their mortgage. Every one of these properties will ultimately be foreclosed on and end up as a bank owned property. This is why you need to know how this process works and how to bid on these bank owned properties. Real estate prices peaked in Mid 2022 in most areas. Since then, prices have declined quite substantially. This has become a real problem for many homeowners. As an example, if prices are down 10% year over year, and you purchased a property for $500,000 one year ago, and you put 10% down you would have had a $50,000 down payment and a $450,000 mortgage. But now with prices down by 10% your house is only worth $450,000, which is the amount that you owe the bank. Even worse, if you were to sell your home for $450,000, after paying commissions and closing costs you may only net $405,000. So you effectively have no equity in your home and are actually negative equity. This is what has been happening to many homeowners over the past 2 years since the peak in 2022. If this homeowner has a low interest rate on their mortgage and likes their home and still has their job then they will most likely continue to make their mortgage payment. But you must understand that they will feel way better about this decision if their property had gone up in value since they purchased it. And if they have any type of financial hardship like divorce, job loss or a disability, then if there is no equity they will be more likely to stop paying their mortgage and walk away. Previously, lower interest rates helped because a home owner was able to refinance their mortgage and pull money out of their property. Because interest rates had gone down, and the value of their house had gone up many homeowners were able to do cash out refinances where they kept the same payment. But now the inverse is happening. Interest rates have gone up, and the value of their house has gone down. So they can no longer use their house as an ATM to refinance and pay off their credit card bills. With no equity, and a financial difficulty, you will find more and more people that will start walking away and will stop paying their mortgage. This will add even more to the number of foreclosures. And all of these foreclosures will end up as bank owned properties. As an investor, you can bid on and win the auctions on these bank owned properties. In some cases you may be able to buy a bank owned property for 60 cents on the dollar (or less). As an investor, you want to make sure that you have this strategy in your toolbox. Regardless of whether you are looking to buy your first rental property, your first fix and flip property, your first Airbnb or your first Wholesale flip, understanding how to bid on and buy properties on online auction sites will help you find better deals at better prices. Banks are not the only sellers. Government entities like Fannie and HUD that insure mortgages are required to buy back those mortgages if the homeowner defaults on their mortgage payments. These Government Entities have their own websites that they use to post these properties for sale. You can bid on these government entity sites and bid on Fannie Mae Homes, Freddie Mac Homes, and HUD Homes. However these sites will require you to have a real estate license to bid. For this reason, I always recommend to my students that they get their ...
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    34 min

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