This week we joined forces with Kyle (The Fearless Investor) on his podcast The Fearless Flipping Podcast to talk about...
"How to do Real Estate with your Spouse!"
The Fearless Podcast Show Notes:
04:38 – When Dave and Mel met, Mel had 2 properties and Dave had 1 property. They both have a passion for real estate so they decided to start a business and bought a couple of properties the traditional way.
05:34 – While working over-time at their full-time jobs, Mel realized that they were trading time for money. This was around the time they discovered the power of creative financing and when they did, their growth exploded. They bought 12 multi-family residences in less than 12 months using none of their own money and no joint venture partnership.
07:15 – If you are using good debt carefully it can make you rich, says Mel.
11:29 – When you put nothing into something and it gives you money back every month it is infinite, says Dave.
16:11 – “Your exit is basically how you are going to pay that money back”, Dave said. He also explains what an exit strategy is.
20:11 – Mel said that if they want to grow, they need to be doing different things. They were always working together, but they also have their own roles that they play within the business.
22:45 – The big part of doing business is remembering your “Why?” Your why is going to keep you driven and your why is going to keep you focused, Mel said.
26:40 – Reach out to Mel and Dave via their social media accounts.
28:03 – You plus action equals limitless, says Mel.