On this episode of the InvestFourMore Real Estate Podcast, I interview Shannon Denniston. Shannon has been an extremely successful real estate investor, entrepreneur, and real estate agent. Shannon had always planned on a career in the real estate industry and even majored in real estate in college. Things do not always go as planned, and Shannon ended up starting a very successful technology company in college, which delayed his entry into real estate. After making a lot of money and paying a lot of income taxes, Shannon’s accountant told him to buy rentals. He started buying rentals, became a real estate agent, and now is even flipping houses. On the show, we talk about how he got into the business, why he thinks he has been so successful, and what new and exciting things he is working on now.
One of the biggest roadblocks to investing in real estate is getting the money to buy houses. I get a lot of questions about how people can find the money to invest with, but the first question you should ask is how much money will you need. Once you know exactly how much money you need to invest in real estate, it becomes much easier to get that money and actually buy a house. You will also need varying amounts of money depending on what kind of real estate investing you do. Flipping, renting, wholesaling will all take different amounts of money, and the type of property you buy will also make a difference when trying to figure out how money you will need as well. On this episode of the InvestFourMore Real Estate Podcast I talk about how much money you will need to invest in different types of real estate using different strategies.
Real estate agents can make a lot of money, and have a lot of freedom. It can also be very tough getting started as an agent. Many real estate agents do not sell a house or make any money for months after they get their license. It can take some agents years to learn the best way to generate business, and some agents never figure it out. On today's podcast I speak with Aaron Hendon who is one of the top real estate agents in Seattle. He tells us what it took for him to become success, how long it took, what he does to find leads, and also gives some tips for investors and other buyers who are looking to buy properties.
Buying Rentals and flips can be an awesome opportunity to make money. However, buying the property is only one step of the process, you usually have to repair properties as well. Even if you buy rental properties that are in perfect shape, you will have to repair them at some point after you run into some less than stellar tenants. I have 15 rental properties and 14 active fix and flips right now. There is a big difference in the way I repair my flips versus my rentals. On this episode of the InvestFourMore Real Estate Podcast I go into how I repair my properties, and what other investors should look out for when buying houses that need work.
Hard money loans are a great option for real estate investors who want to flip houses. However, there are many different types of hard money lenders and many different types of hard money loans. In the past hard money was extremely expensive, but competition has driven the cost down in recent years. On this episode of the InvestFourMore Real Estate Podcast I talk with Dan Leyden, who is a founding partner of Asset Based Lending. Dan talks about the different types of hard money available, rates, terms, how to finance repairs, who can qualify, and he also talks about his company and how they lend hard money.