In this interview I let J Darrin rip apart our real estate business mainly discussing the topic of owner financing. We dig deep into recognizing market trends, writing intelligent offers that win and how to structure an incredible owner finance deal.
Darrin was dropping questions hard and fast and this is one podcast that left me in a whirlwind.
Listen in and pay close attention and be sure to connect with me for more information on the topics you need help with. You can always find me on social media at @therealerikstark
The Horsepower of Leverage is the secret sauce in Real Estate Investing. This is the aha Erik Stark and his partner figured out after successfully buying and wholesaling a deal using none of their money.
This lesson has proved critical to their growth in Detroit, MI and now sunny Florida.
Erik’s experience in flipping goes back to his childhood, riding bikes. He had fun, tricking out bikes he found in the trash and selling them to his friends and others for a profit.
The lessons learned from flipping bikes helped him as he grew from bicycles to dirt bikes and eventually cars.
Upon graduation from high school, Erik was all set to start a career in real estate. However, due to lack of interest, the class was cancelled, and Erik thought it was a sign to run from real estate.
Sticking to what he knew, Erik was working eighty hours a week to provide for his young family. He knew working so many hours away from his family was not what he wanted.
He wanted enough money and time so that he could drive his son to school every day.
He had a passion for people, and recognized the power of networking.
A few years after high school, Erik reconnected with a good friend from high school, Steve Mills. They quickly realized they were of like mind in their entrepreneurial spirit.
At the same time, they set out to learn about real estate. They started out working to find deals for others.
As time went on, Erik & Steve found a deal they decided to pursue on their own.
It proved to be a lesson that has shaped their partnership.
THE HORSEPOWER OF LEVERAGE.
Since their beginning, Erik & Steve have done over 400 flips. They have found unlimited capital to fund their deals, created a top 100 list of target properties they want to acquire including, single family, multifamily and retail.
As the margins have been squeezed on flips, they have been able shift into wholesale and development and look elsewhere to expand their real estate empire.
The lessons in real estate are many, but none are more central to learning how to access capital, including,
“Never Ask For Money!”
OFFER to pay interest well above what they can get in a bank.
The economic cycle: “W”
The power of FOCUS
Follow Us Online At https://www.instagram.com/realestatehacks/
Request an Invite to Join Our Facebook Live Discussions at www.Facebook.com/groups/facelessleaders Did you enjoy this podcast? This is just one of the manystrategies we discuss in our annual mastermind and with our one on one coaching students. If you would like more information about how to increase your lead flow (and spend less doing so), improve your lead conversion (and eliminate unqualified leads), learn how to maximize your deals (for bigger profits), make big money with small lists and simply do bigger deals with less headache and live the real estate investor lifestyle, here are five simple ways to get the laser focus of investors who have walked the path before you and can show you a few ideas that worked well for us and are guaranteed to give you great results.
Get Featured On Our Podcast - Are you a Faceless Leader with a passion for giving? Want to share your story of struggle or success with the Real Estate While You Drive community? Consider being featured on an upcoming episode where we'll dig deep to discuss whats working, whats not, discovering your entrepreneurial uniqueness and how to achieve greatness through real estate. Simply go to www.RealEstateWhileYouDrive.com/Give-back
Al La Carte - Do you have a pretty good handle on your real estate business yet could use some occasional guidance, motivation or negotiation strategies? We offer the opportunity for one hour focused time blocks to discuss your current situation or opportunity. These calls are based on your specific needs and can be used at your discretion. Call requests are usually set up within 48 hours. Email request can be sent to Erik@TheRealErikStark.com
Annual Mastermind - Are you looking to be a part of a small group of investors that have figured out whats really working? We work with a small group of investors throughout the year. Typically less than 15 at a time simply because we still run a full time business and there is a lot of work that goes into creating content and action plans for those who want to get to the next level. This is not open for new investors. You must be operating a minimum six figure annual business. Register for our next mastermind right here. (www.SelfManagingFreedom.com) One on One - There is no one size fits all glove that will teach you real estate. Truth is no coach can help anyone if they don't know where they need the help. Work with US (not some assigned coach) to hone your skills, determine target markets, create marketing pieces that stick, learn how to convert sellers, increase property values, understand zoning, how to assign for larger paydays (our smallest assignment in the last 3 years was $25,000, up to $85,000). We can take you from where you are to where you want to go. You must be operating a minimum six figure annual business. Six month commitment (although most stick with us for a few years leaving few openings to join) Apply For One on One Monthly Education Right Here. For more case studies forms, downloads, reports, mind maps and free resources you can use right now to make money in your business just visit http://therealerikstark.com/resources/