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  1. ChrisGav

    How I'm getting 2.22% debt currently

    HOT! REAL ESTATE 
    I will say, of the 170 rental units that I own, only 4 of them were purchased with a bank. 2 of which I'm on, the other 2 my partner did the "golden arm" and signed on the debt instead of me. My entire portfolio, for the most part, is made up of seller financed deals or subject-to deals where I...
  2. ChrisGav

    How I'm getting 2.22% debt currently

    HOT! REAL ESTATE 
    When phrased this way I understand exactly what you guys mean now. What really threw me through a loop was when he said the above ^ . Because I am getting 2.2% debt. It's just amortized over 25 years so yes the payment looks like 6%. My whole point was, every month my debt is being paid down...
  3. ChrisGav

    How I'm getting 2.22% debt currently

    HOT! REAL ESTATE 
    1. I'm selling the house that I'm buying from them. I'm attaching the mortgage that the seller is carrying on a different property so that when I sell their house that mortgage is not being paid off, I'm walking out of the closing with that cash. If It's attached to the house I'm buying, then it...
  4. ChrisGav

    How I'm getting 2.22% debt currently

    HOT! REAL ESTATE 
    1. go buy a house to flip using this cash as a down payment/rehab money and borrow the rest. Make 35k on the house which recoups my fees paid. option 2: Go buy a 115k house that rents for 1,000/mo. Use that house as collateral for my next deal that I structure like this and snowball. Option 3...
  5. ChrisGav

    How I'm getting 2.22% debt currently

    HOT! REAL ESTATE 
    Well, the 15k broker fee is recouped. I really got out 130k but reimbursed myself 15k leaving 115k as the "loan". The rest of the loss is a paper loss. At the end of the day I'm only paying back a total of 150k that I have 115k to show for it. If you add the "broker fee" back in, i have to pay a...
  6. ChrisGav

    How I'm getting 2.22% debt currently

    HOT! REAL ESTATE 
    I think if I'm looking at this right, you have it inputted wrong. The pmt on debt is 500/mo for 300 months. not 900/mo. And excuse my ignorance, what does GIC stand for? With TVM calculator it comes out to 2.2% rate that I borrowed the 115k at. How did it get to 6%? If I have 115k in cash that...
  7. ChrisGav

    How I'm getting 2.22% debt currently

    HOT! REAL ESTATE 
    That's hilarious, I know Casey Mericle and he attends the meetings I go to. Do you know him? I think the taking advantage of old ladies is not necessarily the case. With this mindset, if I buy a house at a discount that I fix up and flip, am I taking advantage of that seller as well since I got...
  8. ChrisGav

    How I'm getting 2.22% debt currently

    HOT! REAL ESTATE 
    I'm going to copy/paste my previous reply to help answer this: The deal I used in this example, the lady had been trying to sell her house for about a month and a half and was just asking too much for it. She was going to move into an RV and travel around the country after selling and didn't...
  9. ChrisGav

    How I'm getting 2.22% debt currently

    HOT! REAL ESTATE 
    Done, I'm ready when you are. I think "fool the seller" is the wrong connotation. Everyone is in different situations and would have different reasons for potentially taking the offer. The deal I used in this example, the lady had been trying to sell her house for about a month and a half and...
  10. ChrisGav

    How I'm getting 2.22% debt currently

    HOT! REAL ESTATE 
    To all my fellow real estate people, I thought you may benefit from this tactic I'm using to get crazy low interest rate debt. We like to call it Borrowing money the long way, here's how it works (the numbers are from a real deal I'm currently doing): Seller has a house listed for 165k I offer...
  11. ChrisGav

    what skills must i learn to become a successful entrepreneur ?

    IDEA MINDSET 
    Start something and don't worry about whether or not it's want you want to do forever. Start a simple service business: Pressure washing, lawn care, painting, etc. Read this thread I made...
  12. ChrisGav

    The top 10 lessons I learned becoming a millionaire in 2 years

    MINDSET 
    As I was thinking tonight, I wanted to put together a list of the top 10 things I learned on my journey to make my 1st million. Some may go against everything you've heard before. Some you may have already heard, but hopefully they're worded in a way that hits differently than the last time you...
  13. ChrisGav

    Advice on hiring cold callers?

    SCALING 
    Funny I'm seeing this tonight. Just had a meeting 2 hours ago with a partner and we are starting a cold-calling agency. My background is in Real Estate. Found all of my deals, for the most part, cold calling direct to seller. I cold called personally for 2 years, roughly 3 hours a day and really...
  14. ChrisGav

    My whole journey on how I made my first million by 23

    GOLD! HOT! EXECUTION 
    I've only ever done local. I know some guys that do well virtually. I've just always assumed there's plenty of deals in my backyard so why make it more complicated by doing it virtually. What's your question exactly?
  15. ChrisGav

    My whole journey on how I made my first million by 23

    GOLD! HOT! EXECUTION 
    Quite the opposite in regards to offer. Typical conversation looks something like this: Bob the Seller: Hello? Me: Hey, I was looking for Bob? Bob: this is him Me: Hey Bob, my name is Chris, I was calling because I saw a property I believe you own on 123 main st. I was wondering if you would...
  16. ChrisGav

    My whole journey on how I made my first million by 23

    GOLD! HOT! EXECUTION 
    I used propstream to pull the list and then would skiptrace through batchleads.io . I would take the skiptraced list and plug it into my dialer (mojodialer). The dialer would call 3 phone numbers at a time and dial them for me so I didn't have to manually dial them. There's no secret list where...
  17. ChrisGav

    My whole journey on how I made my first million by 23

    GOLD! HOT! EXECUTION 
    I really got conscious about building my discipline muscle. Simple things really: don't feel like going to the gym today, good then that's how I know I'm for sure going. After I'm done eating and I don't want to go put my plate in the dishwasher I get up and go do it immediately. Train yourself...
  18. ChrisGav

    My whole journey on how I made my first million by 23

    GOLD! HOT! EXECUTION 
    Never stop chasing the next deal is something I did really well. I always prioritized cold-calling regardless of how much other stuff I had to get done that day. My morning was always blocked off and then I would handle the avalanche of other problems in the afternoon. Most important thing you...
  19. ChrisGav

    My whole journey on how I made my first million by 23

    GOLD! HOT! EXECUTION 
    Tune into my next post titled "How I went from millionaire by 23 to flat a$$ broke" for updates on how the interest rates are affecting me. Ha, kidding. It's definitely had an impact. Changes I've made to combat that: - flips I'm doing are all entry level/affordable housing. Staying at the low...
  20. ChrisGav

    My whole journey on how I made my first million by 23

    GOLD! HOT! EXECUTION 
    Funny enough, 1 minute ago I was just thinking about this before I jumped on here. I think it's jumping into larger real estate deals. Begin straying away from the typical house flip that makes 40/50k (on a good day) and moving more towards doing larger apartment/industrial deals. I am also in...

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