This is a short testimonial-style YouTube video (uploaded April 7, 2009) featuring Matt and Mike Shotwell describing how Dean Graziosi’s book How to Be a Real Estate Millionaire helped them in property investing. Matt (speaking from Vallejo, California) explains negotiating seller-paid closing costs (he requested $20,000 and received $13,200), using leftover funds to buy down an interest rate, negotiating repairs, and choosing a property with an unfinished second floor to finish later and rent rooms for positive cash flow. Mike reports the family owns three rental properties valued close to $1 million and emphasizes buying the worst house in a good area and overcoming fear of failure.
Questions this video answers
April 7, 2009
Vallejo, California
$20,000
$13,200
Three rental properties totaling close to $1 million
Chapters
Hi Dean, I'm Matt Shotwell and we're here in Vallejo, California. And behind me here is my newest property that I've acquired using a lot of the techniques and tips in your book, how to Be a Real Estate Millionaire. Some of those tips that I used, just a few, were to negotiate the closing costs to be paid by the seller. I asked for 20,000 and my realtor thought I was crazy. But I ended up getting $13,200 towards my closing costs. So I didn't have to come to the table with any money for that. And the leftover monies I used to buy down my interest rate, so that worked out great. I also negotiated to have the seller pay for some damages to the property for the front stairs and things like that. And I also decided to pick a property that had an unfinished second floor so I could finish it off at a later date and rent out the rooms to cover my mortgage to make a positive cash flow. So just a few of the tips there that I've gotten from you and I just wanted to thank you for such a great book and helping me to financial independence. Thanks, Dean.
Hi, Dean, this is Mike Shotwell again. I just wanted to let you know how huge of an impact your book has had on my family and I's life. We currently own three rental properties right now totaling up in value to close to $1 million. Personally, one of my favorite techniques in purchasing a house is first finding a great location and then purchasing the trashiest house in that location and fixing it up. My dad, brother and I can pretty much fix up anything, whether it be from refinishing cabinet doors in the kitchen, putting down tile in the bathroom or dining room, floor, carpet, electrical, landscaping, pretty much anything, because we're very handy and motivated and confident. I guess the most important thing that we learned in your book, I guess, was just to overcome the fear of failure to get out there and do it.
