Many of our listeners dream of leaving their corporate job, and making the transition into full-time real estate investor. Today we talk with a guy about replacing a six figure income with real estate investing.
Wayne Snell used to work over 80 hours a week as the VP of Marketing for a large cloud based software company called Trintech. He has been investing for over 10 years with a focus on Non-performing notes for the last 5 years and was able to replace his 6 figure annual income in that timeframe through real estate investing.
He now runs and is the President for his own Note Business called Platinum Ventures. Platinum Ventures is a private real estate investment company focused on the purchase of single-family residences and real estate notes to produce above-average, safe and consistent returns for their partners.
Chase starts out the interview by asking Wayne to recollect his early years in real estate investing and how he was able to juggle his 80+ hour a week job and his growing business with Real Estate Investing. Part of this conversation is about how to stay motivated when you’re still working a full time job. A big part of this is sacrificing your personal time outside of work whether it be going out drinking while you’re on a work trip or skipping a night out with friends back at home so you can focus on building your dream (and leaving the 40 to 80 hour a week job you hate!).
Fast forward to the present and Wayne is now focused on adding a 100 notes to their portfolio this year! They go on to discuss:
- What a contract for deed (a.k.a. a Land Contract) is and how Wayne attacks these
- How to deal with higher risk borrowers
- When to use your attorney in specific situations
- How to drive up your yields on contract for deeds – Wayne targets a minimum of a 24% return total and they typically see a return above 30%
- Creating win-win scenarios for your borrowers when convincing them to go the Land Contract route
- How Wayne & his business partner turned a work road trip (11 states in about a week) into an incredible marketing opportunity for their business
- How Wayne & his team have been so successful at raising capital
- Where you should be networking to maximize exposure for your business and to acquire new investors
Be sure to listen in closely as Wayne offers a multitude of advice that can be applied throughout any real estate business. Also, make sure to congratulate Chase as him and his wife had a healthy baby boy this past week!
If you have any questions, comments or potential deals to send our way, email us at email@example.com.
Thanks for listening and we will see you all next week!
Listen & Watch this Week’s Show to Learn:
- How to juggle your current full time job and still have time to focus on building a real estate business.
- How to stay motivated on your end goals when you feel like your full time job is sucking your life dry.
- How to do your due diligence so your projections are within a 2 to 3% margin of error within your projected ROI or end game.
- Utilizing VA’s properly so you can focus on growing your business.
- How Wayne attacks contract for deeds
- What a Land Contract (contract for deed) is and how it works
- And much more!
Featured on the Show:
- Wayne Snell – firstname.lastname@example.org
- Platinum Ventures – REI company focused on above average, safe & consistent returns for their partners.
- Land Contracts and turning them into 30% + ROI deals!
- Note Camp – Wayne will be presenting this year so don’t miss out.
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Thanks for listening to our show! We’ll be back next Wednesday morning.
Chase & Robby