"Leads and Lines of Credit"
Real Estate Investing Expert
Episode 61: "Bad Beats"
If you are a new investor or looking to get involved in real estate investing check out todays episode of REN with Zach Beach. Scott has Zach on the pod to talk about his “Bad Beat” and what he learned from it. Zach, along with his family team, are coaches and mentors to real estate investors. They believe in being right there with you in the trenches. Zach has a lot of great insight on how to be successful in the early stages of your investing career. He came from zero real estate experience and is now a very successful investor teaming up with his family.
Leads and Lines of Credit
[1:15] Zach Beach is introduced and he gives a brief overview of his background.
[3:15] Zach explains how he got involved in the real estate business.
[4:09] Scott asks Zach to give the outline of his “Bad Beat” that involved skipping steps.
[5:30] The part where it all started to go sideways.
[7:06] Zach goes into what he could have done to avoid the $30,000 problem he encountered with this deal.
[8:10] Scott asks Zach what other things he could have done to prevent this “Bad Beat”.
- Checklist for purchasing.
- More strict agreements.
- Getting more sets of eyes for inspection.
- Experienced partners early on.
[10:41] Scott and Zach discuss the cost of education.
- Sharing profits with an experienced professional.
- Making costly mistakes going solo.
[12:34] Zach gives his thoughts on how to determine if partner or solo investing is best for you.
- Are you 100% comfortable enough with a deal to take it from start to finish.
- You should always have someone in your corner no matter who you are.
[13:51] Zach talks about how he recovered from the “Bad Beat”
- Having a credit line in place.
[15:58] Zach talks about what he and his family do to help real estate investors.
[17:17] Scott asks Zach what kind of deals he is looking for as well as what kind of people he is looking to partner with and coach.
[18:21] Lesson Learned.
Thank you for joining us on today’s episode of the Real Estate Nerds Podcast. For even more free educational resources on real estate investing and the law, check out the Royal Legal Solutions blog. You can also reach our host Scott Smith directly, connect with him on LinkedIn, subscribe to the Royal Legal Solutions YouTube channel, or join our investor community on Facebook.
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