I Bought 3 Properties With $0 Out of Pocket

Welcome to my retail space. We did the thing. We're at the triple creative finance deal. I bought 3 properties using none of my own money, all seller financed, a little bit of private capital sprinkled in there, but $0 out of pocket purchased these. Better yet, I buy multifamily and the multifamily in this portfolio floats the entire portfolio, which means we bought based on cash flow for multifamily buildings. They happen to come with retail spaces. Now, at least 2 of them, I'll show you what we did there. But this is the last space that we have to lease. It's about 2,000 square feet. which is bigger than I actually realized, and we completely redid it. So this is the back area. This was at one time a kitchen, at one time a thrift store. When we bought it, it had no floor and no ceiling. This was an abandoned space. The reason I picked up the project, the reason I personally picked up this project— this particular building is only 9 units in Ephrata, Washington— I picked up this project because this is what the city needed. I love redoing spaces. Before, this building had a failed bail bonds place, still had the like beat-up sign above it. If your tenants are a failed thrift store and an abandoned Bail bonds place. That's pretty nasty. Coming in here and actually redoing spaces to what they should be is super rewarding, and everything we make is cheddar. These cash flow based on the multifamily by itself. But I have the keys. I am in fact the landlord, and this is, uh, some of the little bit of retail that I have sprinkled throughout my portfolio. Now this deal came up because the landlord— I own the property next door to him, just a little 5-plex. I'll walk you past. The prior landlord, the owner of this property previously, uh, was really underwater on it. He didn't know how to lease it. The building was falling apart. It didn't need that much capital injection, but it did need some love and someone who actually wanted to take the project all the way. Also, yes, someone just tagged my building. I have someone coming out today to fix that. So this is the back of the building. Don't call me a slumlord just yet. This is an unleased space and some homeless found the back parking lot. So here's the first of the 3 buildings I picked up. This was seller financed, 10% down, came with Jordan's Barbershop. And upstairs, more beautiful apartments. In fact, the office here used to be the headquarters for my PM company. The lock broke in the door, so I have a locksmith across the way who's coming over conveniently. Our next-door neighbor is a locksmith, so huzzah for that. The old barbershop is right there in the front of the building that we just renovated. It looks like this. We have a cleaning company right here, just clean and simple. Apartments go through there, and the new cafe that just moved in. Is located right here. Apartments above a coffee shop instead of a bail bonds place. A retail space to lease right behind me. These are the type of projects that mean a lot to do. Again, the 9-plex right there needed a ton of renovation, was in the budget, and was able to pick it up $0 out of pocket with the reno budget covered through private capital. So that was half private capital, half seller finance. The barbershop building we passed is a little 5-unit that cash flows day one. We bought for $400,000. 5% interest-only debt and only 10% down. So $40,000 all in out of pocket for everything you just saw. Check this out. This is exactly why you check out your own properties. I just ran into someone looking inside the building. This is a retail space I have at one of my multifamily buildings. This is that 5-unit. This is inside the old barbershop. Now we need to do some renovations, but there's the old sinks. Here's the space. Of all people, it's a tea shop. from my hometown is wanting to move in over here. I toured the whole space with them in person. I totally made up a price that I think might have been actually too low, uh, to rent this space. Sorry, team. Uh, but this little space, I haven't listed this with a broker yet. I was coming to town to check out what needed to be renovated, and I think I might have found the perfect tenant. These are the little things that make you a ton of money when you actually spend a little time in the field. Now, for context, this is 3 hours away from where I grew up in Washington State. This is 1,500 miles away from where I live right now in Texas. I'm still here at the property doing the thing in the field because this is where the big money is made. This is the last one and the only strictly multifamily building in this portfolio. This was from the same seller who sold us the barbershop. This is one of my favorite properties. I love this area. Now, the exterior is quite dated. We have not done any work to the exterior. This is exactly as it came. The interiors are gorgeous. As we finish lease up, we're doing a refinance, taking the money And decking out the outside of the building. We have an almost finished project here in Freda, Washington. This is 27 units, cost to purchase, $0. Was it the easiest project we've done? Absolutely not. In fact, we went through our reno budgets, which was a bit of a problem, which we're solving with a refinance. There's always a way to get through your pieces. However, I'm so proud of the end product. We have those beautiful retail spaces, the coffee shops move in, the cleaners moved in, this building is getting fully leased up. Everything's starting to look clean, tidy, finished. When buying real estate, you're not always buying the sexiest building and the sexiest street, but when you finish a project, it is fun to walk around campuses that you are truly proud to own. I'm proud to own every single one of these buildings, and I'm proud to say they finally all make quite a bit of money. Do not buy single-family or little duplexes when stuff like this is available in almost every market in the country. By the way, you may not know this, but I run the most active mentorship group in multifamily real estate. Online, period. I coach over 152 times a year live on the call. I'm not only in the field buying the stuff, you see me at big properties, small properties, old properties, new properties, blue states, red states. I'm actually doing the thing and I'm actually coaching the thing. I won't offload you to another mentor. If you want to learn directly from me in an active community that is actively buying deals today, I want you to click the link below, watch a quick video on how we're doing all of this. Buying deals like this is completely attainable. You can do it too.