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Kyle:So I got started in the business about six years ago.

I was a college senior and I had two classes I was taking. So I was taking those last two classes, I was also working full time. And my first step into real estate was buying a duplex, bought the duplex with an FHA loan, kind of house hacked, it was I think in our area of the country, they call them town homes. So it was like a side-by-side duplex, I lived in one side and then I rented out the other side. How did you even know that was a thing, house hacking, where you live in one and rent out the other? Kyle:So like I said, I was a senior in college and I was actually in the biology program, I wanted to be a doctor. I remember watching the news, it was probably some business news thing, and they were saying how interest rates were so low, they were never going to be this low again, and that if you ever wanted to buy a real estate, now is the time to do it. And I took a step into the water and ended up buying my first duplex. Tony:So I want to ask Kyle, a lot of people hear about real estate cash fast loan is something they should do, they start educating themselves, they never actually take action. I would say the actual timeframe was maybe six months. I think the biggest challenge was coming up with that down payment. Like I said, when I saw that something about the interest rates going up on the news, that was the kick in the butt. And when I focus on something, I really obsess over it. You can talk to people, you can look online at Zillow and look at real estate.

It was those couple hard things that I had to sit down and just do. I did one hard thing, let me go onto the next hard thing. Once I took that action step, I think things start to kind of fall in place and flow of a little bit better. Tony:Kyle, you just drop some major knowledge right now.

And you said the first step was getting the pre-approval. So I just want to make sure that I highlighted that. So once I did that, like I said, things started to flow in place and it worked out okay. Ashley:So after you bought your primary, how did you get into investment property moving forward after that? Kyle:Like I mentioned, I was a senior in college, I graduated high street payday loans that spring. So two months after buying my first property, I graduated. I had no experience other than a duplex, so I actually worked on the weekends as a part-time property leasing agent.

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I would show the apartments, that was a great foot in the door to just be around real estate, be around people who were doing it, learn some terms.

But that was kind of a foot in the door, I learned a lot.

And easy payday loan then I got a full-time job as a commercial real estate field researcher. So I was going to commercial properties for kind of like the commercial MLS and gathering data. And that was helpful because I was in the car 35, 36 hours a week, just driving around town, taking pictures of buildings, just really getting comfortable with the neighborhoods.

That was kind of the next step that moved me along.

The cash fast loan next job after that, so I worked there for about a year and a half, after that I became a commercial real estate broker and I did commercial only. It was leasing and I did specifically office properties. So that was another big jump that got me forward in the real estate world. But on my investing side, my next purchase was an 18-unit, I bought it on a land contract. I need a loan fast with bad credit financed that with credit cards, I had pretty good credit. I got about 35,000 in credit cards and that was my down payment that I gave to this guy and he financed the rest of it for me as a seller finance land contract. A lot happened in the course of two or three years. How is it different than just regular seller financing or just purchasing a property? These were the days when I was on the MLS just trying to find any and every opportunity. And I saw that in the notes, so I called the agent, again, shared with him with my goals were and he thought maybe I could be a good fit for this. So that worked out, I think, again, that was a huge learning lesson. If I were to do this over, not sure if I would go that route, because it was a lot, it was a lot to a big responsibility to go from two units to an 18-unit building. And maybe I missed it, but help me understand, what is the key difference between a land contract and seller financing?

Because they sound very similar, maybe I missed it. So slight nuance to the two different terms, but does that answer your question, Tony? For you as a relatively new investor, I mean, were you nervous? I guess just walk us through some of the challenges that you faced going from two units to your second deal being 18 units.

So, man, I just love how you kind of walk listeners through that.

But there was one thing that stood out to me that I wanted to ask you about first before we move on to the rest of your portfolio is, you mentioned credit cards, how have you used credit cards for your deals?

Yeah, very cool, I love hearing the different ways people are using leverage to further grow and scale their real estate business. Kyle:Sure, so I owned that 18-unit for about a year and a half, it was tough managing it, it was maybe in a class C area of town. For the first half that I owned it, the seller wanted me to keep his management company. So again, that just shows how flexible the land contract is because when he agreed to do the land contract, I had to promise to keep the manager for a certain amount of time. We talked about how flexible a land contract is, you can negotiate any type of term, that was something that he negotiated.

Today I have about a little over 80 units and I would say maybe- Kyle:Yeah, well, it happened real quick but most of it was duplexes, I acquired through BRRRR investing. Tony:I just want to give an overview of the portfolio. So a key in BRRRR investing is buying below market, I was able to easily offload these and I made a couple of bucks. This time, I came armed, I did my due diligence and research, and I knew exactly who I was going to use my refinance before I even bought the property. So I mean, I was just saying that, figuring out who the refinance lender was key to really growing my portfolio. I just kind of want to walk the listeners through how you were able to put all these pieces together.

Are all of your BRRRRs done with hard cash fast loan cash fast loan money or is it still a mix? And then I also want to get into the 15 commercial units and tell us what exactly those consist of. At what kind of pace have payday loans new lenders you been moving on to get those knocked out as well? But my complaint is that they move unsecured loan calculator very slowly and that is a disadvantage in this hotter markets where speed to close and knowing that you are going to close no matter what is oftentimes, what gets you the deal. So bank financing versus hard money, most of my stuff was hard money.

The other side to private financing hard one main financial personal loan money is what I call the national lenders. So my best advice is to go out to your meetup, go up to your RIA and just talk to people. Tony:And walk us through that, Kyle, what did that conversation look like?

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But I tried to just be organized, and I just went into a spreadsheet and I just I showed… Well, I found a property first and it had an acquisition price, it had a potential rehab and I outlined everything that I was going to do on this property, and then I pointed back a little bit to my experience with my duplex. And it was a little spreadsheet with a three or four-page document that just briefly outlined what my plan was, and I just gave that to my hard money lender. Your credit card report, I think you had mentioned earlier when you were set up the land contract that you gave him your credit report because you want to have, I feel like I say this every single episode, you want to have a strong, personal finance foundation for when you go into real estate investing and build that business. Kyle:So I was a commercial broker for about five years. I left in April to do real estate investing full time. And I knew that doing real estate was what I wanted to do, that that was the future. And it went right back to buying that first duplex where I had done my research, I knew that I could live off the duplexes I had. Ashley:I want to ask real quick, those people who told you not to do it, were they still working full-time or were they people that had retired because they were financially free? Kyle:Well, you asked the question, I think you know the answer.

So it was a great decision that I made and not looking back in any kind of way. Ashley:Are you still managing the properties yourself or have you outsourced all of that? What does the property management look like for all your units? Kyle:I manage everything except for the 24-unit building. The bank required me to keep a professional third-party management company hired for that deal. So I stay busy with the balance of my portfolio, which is about 55, 57 units or something, however that math works out and that has worked well so far.

But before we do that, you mentioned your wife, is she working full-time in the business with you also, Kyle, or how does that relationship work on the real estate side? Kyle:She works full time with me, we have three children. We are homeschooling this year and that is a kind of a COVID thing. So that does keep us pretty busy, but- Tony:A little bit of both.

But Kyle, does your wife play a role in the actual real estate business as well and how do you guys split those responsibilities?