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Nov. 6, 2022

Ep 259: Leveraging The Same Transaction With Investor Mel and Dave

Ep 259: Leveraging The Same Transaction With Investor Mel and Dave

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Transcript

0:00 Hey, welcome to today's episode we're starting we're just gonna we're trying out a new thing. This episode of we call deal breakdown. We have a special guest, investor Mellon Dave, we're gonna hop right into it. We're gonna keep this really close. So what, what's what's really good about this segment? We're not? If you guys want to check out the episode about them, there's another episode but probably for this one. So go check that episode. But what has been your craziest deal, whether it's most profit or just something crazy that happened in that in a transaction? 0:30 Yeah, and thanks for having us 0:32 on. Yeah. Thank you so much, Dave, which one do you want to do today? 0:35 Okay, so it might not be the biggest profit, but I just like because it doubled. And then we'll talk about a drug dealer tenant. But the first deal that I want to talk about a few things today, there we go. Yeah, we'll go through it. So basically, we had purchased a five Plex for $250,000. You know, relatively cheap, right. And then it had been on the market for a while the seller couldn't sell it. When we finally came back to it. We had looked at initially, when we finally came back, the seller was saying, All the deals fell through. And I'm like, Let me guess with financing. And he's like, Yeah, how'd you know? Because we underwrote the deal, it didn't make sense. So we actually got into it with 100% financing. So $250,000, the seller held a first mortgage of $200,000, right, uh, VTB, seller financing, owner financing, whatever you want to call it. And then we actually utilize it in Canada. So we actually utilized our RSPs, which is basically the same thing as a 401 K in the States, registered funds. So we utilize that as our downpayment for $50,000. So 100% Finance deal. Now that's not that cool. Well, that is kind of cool, right? That it's 100% financing your own money. That's what we do, and no joint venture partners. But the cool thing was, it was such an underperforming asset, right. The rents had never been raised for the last 10 or plus, probably seven to 10 years. No maintenance had been done. So we once we took possession, we kind of did our thing, right, it was a low hanging fruit. We did some renovations, some TLC, some some tenant changeover through natural attrition for them going to school and that type of stuff. And in a short period, I think in one and a half, maybe two years. Yeah, just under two. Yeah, it actually it appraised for over $500,000. So we literally doubled the amount of it in a short period of time, right, which is kind of cool, obviously. And then we repaid all the investors, we repaid the seller, we repaid the lady who had lent us the registered funds. And that's not the end of that deal. So that was about probably a year ago, a year and a half ago. So sequence of events, we refinance paid everyone out, still continued to cash flow, free cash flow from day one as well. And then after that, we actually listed it on the market. So we got we had gotten the refi. For 500. We sold it for 600, which again, made another $100,000. Right, and now we're actually holding the mortgage on it. So it's kind of like this, this deal 2:47 with both sides of the coin, right. So bought it using our own money, part of it with owner financing, and now we get to still make money passively, and have the tax benefit as owners as well as we 3:01 it's a pretty cool deal. 3:04 Oh, what's crazy about this whole deal is I was earlier had this conversation with somebody about this yesterday and it was the value of extended transaction. Because a lot of people they think that once they bought once they sell that property, that's it but when you owner finance that you can extend that transaction to revisit over and over again. So I think it's really cool that you bought at Creative finance, you held the Credit Balance refinanced out of it, and then you sold it owner finance. 3:27 And then now of course with a cash flow. Well, we can continue to where it's more deals as well. 3:33 It's as passive, right when we're holding a mortgage, we have our security and it's kind of like I like how you say Daniel, it's extending the deal. It's kind of the deal that never ends it just keeps cash flowing. So yeah, pretty cool deal. 3:44 Now that's amazing. That's amazing. I hope you learned something from that episode because this if you gotta listen to it again, it's gonna be really really quick. Listen to it again. Go check it out. Appreciate you guys coming on. Where can people find you online? Real quick. 3:56 We're at Investor Mel Dave on YouTube, Instagram, Facebook all over always investor Mel, Dave. Yeah. 4:02 All right. Awesome. Thank you. Thanks for guys coming on. appreciate y'all. 4:05 Thank you.

Daniel Esteban Martinez Profile Photo

Daniel Esteban Martinez

Host/ Ceo/ Speaker

I have been an entrepreneur since 2018. I come from a regular home just like most people. My dad worked on the roads in the Chicago area for over 30 years. He always taught me to work with my brain, instead of my body. Your body can only take so much abuse. I learned so much from my father. He always pushed me to work smarter and not harder.

I have owned and operated a trucking business for 2 years. I started learning real estate in 2019. Fell into the Data & Skiptracing business in 2020. My partner Anthony & I started Hivemind in 2021.

I have done a ton of different jobs coming up from painting, to door-to-door sales, telemarketing, truck driving, and loading trailers. What I learned most is that I want to stay in the digital business space. The leverage you can have delivering digital products to the marketplace can yield limitless possibilites.

I started The List Guys in 2020. It is a data and skiptracing service. We provide seller and buyers list nationwide. My clients have been getting great results and I am proud to help people killing it.

I started the Hive in 2021 with my partner Anthony Gaona. It is a real estate and business mastermind. It also comes with a all in one CRM, that can host unlimited websites and users.

Starting the Hivemind has been an amazing journey so far. Seeing one of our users make his 6 figure month in June 2021 leveraging our software, I know there will be plenty more to come!

Investor Mel & Dave Profile Photo

Investor Mel & Dave

Real Estate Investor

Melanie and Dave Dupuis, well known as Investor Mel & Dave, are innovative real estate investors, best-selling authors and award-winning mentors who have SOLELY acquired over 240 apartments in just a few short years in Canada, the US, Mexico, Dominican Republic and Costa Rica. Their strategy gives them the ability to purchase properties… without using any of their own money or relying on joint ventures. This also allows them to own 100% of the property - which means they keep 100% of the equity, cash flow, and appreciation.

With over 23 years of combined experience in real estate investing, Investor Mel & Dave are founders of the Action FamilyTM Mentorship Program and are dedicated to helping individuals create their own time, location, and financial freedoms. They do this by helping them build their real estate portfolio without using their own funds while solely keeping ownership. To date, they’ve helped over 1300 students in Canada and the United States.

Starting out, Mel was working full-time at her local college, and Dave was a full-time firefighter. They understand what it’s like to be stuck in the ‘hamster wheel’ of trading time for money. But they knew they wanted a better life for their family, so they chose to step up and make real estate investing work no matter what. After discovering the “Creative Financing” strategies they now use, they were able to purchase 12 properties in 12 months (56 units) in 2017 and both quit their jobs in their 30s.

Following a horrific life-changing highway crash in 2018, they wrote a Real Estate Investing book “Real Estate Investing Secrets” which topped the Amazon #1 Best Seller list early in its launch. As well, Mel is the co-author of “The Only Woman in the Room”, which also achieved Bestseller status. They are living proof that if you don’t let anything stop you, success can be yours.

They won the 2019 Chamber of Commerce - Small Business of the Year Award, the 2020 Canadian Business Award as Leading Experts in Real Estate Investing, the 2021 Canadian Business Award as Top Real Estate Mentors and the 2022 CBRB Best Investors in Canada Award.

In their free time, Mel & Dave enjoy relaxing at their cottage (purchased with OPM), spending time with their 3 kids and 2 dogs (Rexy and Millie), and creating unforgettable memories on family trips.

Along with podcast appearances on shows like The Real Brad Lea and Bigger Pockets, Mel and Dave are well known on social media. To learn from Mel & Dave and join over 350,000 followers - you can follow them on Instagram, Facebook, TikTok, and YouTube under the username Investor Mel & Dave. You can also find them on their website at www.investormeldave.com.

To watch their free Creative Financing Masterclass: (How to Buy Properties with No Money Down and No Joint Venture Partners) click on this link. https://www.iamreadytoinvest.com/now