The New Rules of Real Estate Investing with Zachary Beach, Episode 180
Updated: Dec 3, 2020
There are many strategies to invest in real estate and finding the path that fits your interests and financial situation. Along with Chris Prefontaine and Nick Prefontaine, Zach Beach co-authored The New Rules of Real Estate Investing, which covers the successful strategies of 24 leading experts. Out of all of the strategies, Zach prefers buying on “terms.” Buying on terms, means you negotiate the terms of the purchase and use little to no money for your down payment. This could mean using a lease option, seller-financing or land contract to get a deal under control.
Each strategy has its advantages and limitations, so knowing which strategy to use for a given situation is key. We discuss various strategies and the mindset necessary to be a successful investor. In addition to his preferred “term” strategies, we discuss how Zach likes to structure his deals and his day to maximize efficiency. He also shares how he approaches each deal to find the best strategy to help a property owner.
Partner: Exclusive offer to join the Capital Impact Club for Multifamily Investors
The New Rules of Real Estate Investing overview
Observations of thousands of successful people: A morning routine that sets you up for success every day. Challenges they overcame to be successful. Systems they follow.
How to transition from W2 to entrepreneur
Real Estate Investing Niches: What is the risk tolerance and what is the upside
Lease options: You are Uber: you don’t own any property but you control it.
Wholesaling niche is little to no risk, but little upside.
Syndication is a fantastic niche if you’re good at raising capital
How to get 3 distinct paydays: non-refundable deposit, monthly spread on payments and principal pay down
Shorter-term financing deals with principal only, no interest; longer-term deals through notes
Criteria for knowing how to approach a deal for the best profits: Sellers’ motivation and the actual finances associated with the property
The property doesn’t matter unless you can help out the seller; know the seller’s motivation and understand the problem(s) you can solve for them
Create options for sellers who are not looking for traditional sales
Advice for the listener who needs an edge getting started in real estate: #1: Find the niche that you best relate to, be it wholesaling, terms, syndications, etc. Find mentors that are doing it right and follow their systems.
It takes the dedication of 3-5 years to grow your real estate investing business.
There is a huge gap to move from a W2 to an entrepreneur. Need additional skills to grow your business.
Focus on the right activities to grow your business as an entrepreneur: You’re both CEO and employee
Partner: Download a Free Sample Apartment Deal Package
All of our failures set us up for success if we do it right.
Most Recommended Book:
The Surrender Experiment
Every Sunday plans out every week
Wish I Knew When I Was Starting Out:
It’s harder than you think it is.
Advice for Smart, Driven College Student:
It is what you make it. IF you want something, go out and create it.
Best Place to Grab a Bite in Newport, Rhode Island:
Midtown Oyster Bar
Free Book: The New Rules of Real Estate Investing
Website: Smart Real Estate Coach Website
Education: Smart Real Estate Coach Academy