Earnest Money Deposit FAQs

earnest money deposit Mar 27, 2023

If you're here, you probably want to know what earnest money is, how it works, and most importantly how not to lose it.

As always, I'm here to break it all the way down for you.

If you're new here, my name is Lili and this is where I talk about real estate investing and personal finance to help us all achieve a little bit more financial freedom.

Today, we're going to talk about earnest money. We're going to dive deep and define what earnest money is, if it's even required, how much you have to put down, and of course what you have to do to make sure that you don't lose your earnest money.

So you're probably interested in earnest money because you're thinking about purchasing or wholesaling a piece of real estate.

Whichever one it is, I'm going to start off with this very important point: I'm not here to teach you ways to get around putting down earnest money.

If you're trying to buy or wholesale a house, that's an asset that costs tens of thousands or even hundreds of thousands of...

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Wholesaling in Real Estate

wholesaling Mar 24, 2023

If you're just finding this blog, my name is Lili and this is where I document my real estate investing journey and bring you along with me.

Today, I really want to talk about some of the questions that I get a lot that I also had when I first started wholesaling, and that I don't hear a lot of the big wholesalers answering.

Something that I learned and that I want to share with you guys is there was a lot of trial and error in the process of getting my first wholesale deal. 

Although I knew a lot of the big things to do from watching Youtube and reading books, there were a lot of the small but still very important details I had to learn by  messing up and going through the process.

Me saying that the big wholesalers don't answer those questions is not throwing shade at them.

I just think that sometimes they are so big and they've been in the game for so long that they forget to answer those questions that come naturally to them.

But they're super important questions to a...

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House Flipping for Beginners

What's up, guys?

And welcome to the most authentic, transparent and real real estate investing blog around.

At least that's my goal.

If you're new here, my name is Lili, and this is where I've been documenting my real estate investing journey and bringing you guys along with me, with all the steps from house hacking, to wholesaling, to now buying and renovating my own houses. 

The question you're probably asking, is how could you get funding for your own deals?

Well, you're in the right place because I'm going to completely break down a few different methods that you could use to fund your property renovations.

We'll break down all the numbers, talk about the pros and cons, and all the things that you need to know so you can get into the house flipping game.

And if you stick with me and do the math with me, you'll see that you can actually start flipping houses a lot sooner and with a lot less money than you might think.

And if you're wondering where you can...

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House Hacking: Paying $0 for my home

What is your largest expense right now?

Is it food, clothes, streaming services? What about your rent or mortgage payment?

For most people, the place you live is also the place that puts the biggest strain on your pockets.

When I was finishing up my basketball career and preparing to live in the real world for the first time, I heard about a little known way to buy a house for free and live in that house for free.

And today, I'm going to tell you exactly how I did it at just 23 years old.

What's up, guys? My name is Lili, and before I scaled my real estate portfolio to be worth over $1.3 million, I was a Division One college athlete, soon to be college graduate, and I had a pit in my stomach over my imminent entrance into the real world to get a real job and pay real rent.

But then one of the best things ever happened to me, and it put me on the road to real estate induced financial freedom.

I tore my ACL.

Okay, let me back up a little bit.

I remember my very first...

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How to use PropStream software for Real Estate Investing

propstream Mar 22, 2023

PropStream is like a good Swiss Army Knife.

It does so many different things for real estate investing, and when you don't have it, you just feel lost.

Finding ARV and Comps

If you want to find the best part of town to get deals in, a good tool to use is PropStream.

To find those hot pockets in your market, you can use their analytics tool in the upper right hand corner of the maps and that's going to color code the map based on whatever you're selecting.

So if I wanted to know the parts of the city with the highest valued properties, I could see that they're clustered on the north side. But if I wanted to see what parts of the city had the most growth in the last year, I can kind of see that that's clustered on the south side.

They even have preset lists that you can look at.

So if I wanted to know where most cash buyers were active, I could do that as well. I could also do even more specifically and look at Flippers, which means a property that was purchased for...

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The BRRRR Method

I started out by putting down $500 of earnest money to get my first $6,000 wholesale deal.

Today, I have a portfolio worth $1.3 million. All from using the BRRRR method. 

Now I'm pulling back the curtain on exactly what the BRRRR method is and how I used it to go from a complete beginner to getting a $63,000 check.

What's up, guys? If you're new here, my name is Lili.

So, I completed what is called a "perfect BRRRR" deal and got a $63,000 check. It was one of the moments in my real estate investing journey where I'm like, man, my life has completely changed. So I'm excited to share that with you.

Today, I'm going to break down what the BRRRR method is, what a perfect BRRRR actually looks like, and then we're going to walk through the details of my perfect BRRRR, meaning:

  1. What did I buy the property for?
  2. How did I get the money to buy it and rehab it?
  3. How much did the rehab cost?

We're going to go through the rehab and I'm going to...

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Real Estate Investing for Beginners

real estate investing Mar 17, 2023

Real estate investing is a popular way to build wealth and achieve financial freedom.

With the rise of technology, real estate investing for beginners has become more accessible than ever before.

In this blog post, we will explore the different ways in which one can start investing in real estate with wholesaling, house hacking, house flipping, and the BRRRR method by using software tools such as PropStream.

We'll also talk about:

• Financial freedom
• Active vs. passive income
• Real estate investing strategies
• Finding investment properties
• How to find leads
• Ways to contact leads
• How to find cash buyers
• How to start your real estate investing journey today

Financial Freedom

Real estate investing can be a powerful tool for achieving financial freedom. By purchasing income-producing properties such as rental homes or apartment buildings, investors can generate a steady...

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