$40 Million, None of My Own Money
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The speaker explains how they were able to purchase over $40 million worth of real estate without using any of their own money. They borrowed money from a private lender to buy a distressed property, then borrowed more money from the same lender to fix it up. Once the property was rented out and generating income, they went to a local bank for a new loan, which was a cash-out refinance. The bank gave them a check for 80% of the appraised value, which they used to pay off the old loan plus interest. The speaker now owed the bank money in the form of a mortgage, but the rent from the property covered the monthly payments. This process allowed the speaker to own an asset that increased in value and produced cash flow without using any of their own money. The speaker encourages others to follow their example and do this as many times as they want.
The speaker explains how they were able to purchase over $40 million worth of real estate without us