Many people often consider the option of getting into real estate, but they feel like they might not have enough money or the experience to do it. Commonly, we find it difficult having a side-business while being a regular employee somewhere else, and if you have been in that situation, it is possible someone has encouraged you to step back, because it is “risky”. Willie Morales is here to help you rethink all of those scenarios and to tell you that you can do anything you want to achieve.
Willie has a 9-5 job as a supply chain manager in an NYC hospital and he decided to start educating himself in real estate after work and even on weekends 12 years ago. Thanks to that self-formation, Willie became a seminar junkie and finally stepped his way up to acquiring properties, crowdfunding, creative lease purchases, and owner-financing.
Willie is passionate about real estate and has a real comfortable living doing it. He loves associating with people, friends, and mentors. In this episode, he will share with us different real estate strategies focusing on lease purchase and owner financing. Morales shares the mistakes he’s made for the past years and how important due diligence is, to turn a small amount of money into a juicy monthly income.
Willie is the host of The Peer to Peer Real Estate Podcast. Through this communication channel, Willie’s dream is to bring wisdom and help others get started investing in real estate.
“Live out your dreams, don’t let anybody steal them from you; nobody is going to pay your rent, you control your own destiny.” - Willie Morales
Podcast summary:
- 08:06 - Why owner financing was really the income hacker mind shift for Willie.
- 09:11 - His first property purchase through owner financing was Willie’s first income hacker success.
- 16:00 - Not following up on the bank statements, on the company and not doing due diligence before engaging in business. Willie’s big income hacker mistake: His property in Pittsburgh.
- 19:20 - Reflections on mistakes and failures.
- 21:00 - Exploring the differences between Lease Purchase and Owner Financing with Willie’s and Ryan’s experience and knowledge.
- 31:50 - Willie’s views on Wrap Around transactions.
- 33:00 - An Income Hacker’s successful starting strategy for getting into real estate.
- 36:40 - Further observations into Willie’s various strategies including looking for ‘Free and clear properties’ and seller financing deals.
- 40:00 - Looking for ‘For sale by owner’ signs as Willie’s procedure should he have to start from scratch with his experience and only 1000 bucks.
- 42:40 - Willie’s why: Being your own boss and not being at somebody else’s mercy.
Connect with Willie
Peer 2 Peer Real Estate Podcast
Episode Resources
Think and Grow Rich by Napoleon Hill
Want to learn more?
Join Ryan on our next webinar to learn how you can start real estate investing with The Investor's Edge.
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