How to Find Under Market Value Properties for $0 w/ @Liliinvests

TL;DR

Lili Thompson shares her journey from basketball to real estate investing.

Transcript

this is real estate rookie episode 91 one of the benefits of dealing with an agent instead of a homeowner is that any time that agent for the rest of their career gets a distressed property now they're going to call me so i've done repeat business with agents that is like you know they just keep getting distressed listings they call me even before ... Read More

Key Insights

• Lili Thompson transitioned from a basketball career to real estate investing after an injury, leveraging her competitive nature and strategic thinking.
• She emphasizes the importance of building relationships with real estate agents, which has led to repeat business and exclusive deals before they hit the MLS.
• House hacking was her entry point into real estate, allowing her to live in one unit while renting out others, reducing her living expenses and gaining investment experience.
• Lili uses social media, especially YouTube, to document her journey, which has helped her network with other investors and lenders, providing credibility and learning opportunities.
• Wholesaling has been a significant part of her strategy, allowing her to build capital and learn the market without initially owning properties.
• She focuses on finding distressed properties and building a buyers list through local real estate groups and social media platforms.
• Lili has successfully scaled her portfolio by reinvesting profits from wholesaling into buy-and-hold properties, leveraging hard money loans.
• Her approach to wholesaling includes creative problem-solving for sellers, such as offering extended closing times or allowing them to leave unwanted items behind.

Questions & Answers

Q: How did Lili transition from basketball to real estate?

Lili transitioned to real estate after an injury ended her basketball career. She leveraged her competitive nature and strategic thinking from sports to succeed in real estate, starting with house hacking and building relationships with agents for exclusive deals.

Q: What role does social media play in Lili's real estate strategy?

Social media, especially YouTube, is crucial for Lili, as it helps her document her journey, network with other investors, and gain credibility. It also provides learning opportunities and has been instrumental in building relationships with lenders and buyers.

Q: How has Lili been successful in wholesaling real estate?

Lili's success in wholesaling comes from finding distressed properties, building a buyers list through local real estate groups, and using creative problem-solving for sellers. She focuses on solving sellers' problems to secure deals and reinvests profits into buy-and-hold properties.

Q: What are Lili's key strategies for finding under market value properties?

Lili builds relationships with agents for exclusive deals, uses social media for networking, and focuses on distressed properties. She employs creative problem-solving for sellers and leverages her buyers list to secure and flip deals efficiently.

Q: How does Lili use house hacking in her investment strategy?

Lili uses house hacking as an entry point, living in one unit while renting out others to reduce living expenses. This strategy allows her to gain investment experience and build capital for further investments in her real estate portfolio.

Q: What challenges did Lili face when starting in real estate?

Lili faced challenges like transitioning from sports to real estate, learning market dynamics, and building a network from scratch. She overcame these by leveraging social media, building relationships with agents, and creatively solving sellers' problems.

Q: How does Lili approach building her buyers list?

Lili builds her buyers list through local real estate groups and social media platforms. She engages with potential buyers by sharing deals and establishing relationships, ensuring she has a ready market for her wholesale deals.

Q: What advice does Lili give to new real estate investors?

Lili advises new investors to focus on building relationships, leveraging social media for networking, and learning market fundamentals. She emphasizes creative problem-solving for sellers and finding ways to add value in transactions to succeed in real estate.

Summary & Key Takeaways

• Lili Thompson transitioned from a basketball career to real estate investing, using her competitive nature and strategic thinking to succeed. She emphasizes building relationships with real estate agents to access exclusive deals and focuses on house hacking to minimize living expenses while gaining investment experience.

• Social media, particularly YouTube, plays a crucial role in Lili's strategy, helping her document her journey, network with investors, and gain credibility. Wholesaling has been a key part of her approach, allowing her to build capital and learn the market without initially owning properties.

• Lili's wholesaling strategy includes finding distressed properties and building a buyers list through local real estate groups and social media. She reinvests profits into buy-and-hold properties, leveraging hard money loans, and creatively solves sellers' problems to secure deals.