On this episode of REI Mastermind Network, host Jack Hoss welcomes guest Derek Dombeck to discuss the pitfalls of using personal homes as leverage in real estate investments. Derek shares his own firsthand experience with negative consequences and dispels the myth of using lines of credit for house flipping or property purchases. He emphasizes the importance of understanding the personality type of the person he's negotiating with, adjusting his communication style accordingly. Derek provides valuable tips on using an elevator pitch, solving the other person's problem, and employing effective negotiation strategies. He also shares insights from his upcoming book on the lending business, co-authored with notable individuals and published by Kyle Wilson. Derek discusses the Generations of Wealth conference, which he and his friends took over and renamed, highlighting its focus on content sharing and networking. He invites listeners to attend the conference in Cancun and expand their network. Derek stresses the significance of building genuine relationships with clients, citing real-life examples of successful deals that required compassionate conversations. He delves into his involvement in short-term regional lending, offering investors a 9% return and prioritizing customer service. Derek also discusses the potential challenges and opportunities in the current market, sharing alternative methods of buying properties without relying on banks. He explains the "subject to" strategy and the risks involved, cautioning about triggering the due on sale clause in most mortgages. Overall, this episode provides invaluable insights and practical advice for navigating the real estate industry and achieving success. Connect with Derek Dombeck at https://bestreifunding.com/ Get Derek Dombeck's free ebook by sending and email to derek@bestfunding.com Topics Covered: 1. Frustration with using personal homes as leverage for real estate investments - Negative consequences of this practice - Myth of taking out lines of credit for house flipping or property purchases 2. Importance of understanding the personality type of the person being talked to in property deals - Adjusting communication style based on personality type - Using elevator pitch to set expectations and overcome objections 3. Negotiation strategies and the importance of helping others solve their problems - Asking questions, listening attentively, and avoiding cutting people off - Creative deal structuring and negotiating skills 4. The speaker's book about the lending business and potential titles - Background as a construction worker and involvement in flipping houses and rental properties - Co-ownership of successful lending company 5. Co-authoring a second book with other notable individuals and its publisher - Offering electronic versions of both books to listeners who email the speaker 6. Importance of learning negotiation strategies and focusing on building relationships - Using tactics such as recording phone calls, paying attention to tone and body language, and building rapport - Caution against manipulative use of these techniques 7. Addressing potential negatives and objections in real estate conversations - Preemptively overcoming objections and guiding towards the proposed solution - Specific examples of dealing with difficult situations and creating successful deals 8. Generations of Wealth conference hosted on a cruise ship - Focus on content sharing and networking, no speaker pitches - Encouraging children to attend and build networks 9. Inviting listeners to attend the conference in Cancun and expand their network - Importance of building genuine relationships with clients - Example of receiving Christmas cards from past clients 10. Speaker's involvement in short term regional lending in Wisconsin - Background in flipping houses and raising private capital - Offering investors a 9% return and lending at 12% with six month terms 11. Being 100% privately funded and not selling loans to hedge funds - Prioritizing customer service and striving to be the best REI funding - Difficulties experienced during the 2007 downturn and the impact of government regulation 12. Alternative methods of buying properties without banks or a lot of personal cash - Strategies such as lease options and master leases to control properties - Finding cash flowing properties in the upper Midwest region, particularly in Wisconsin 13. Ethical and moral practices that benefit both buyers and sellers - Explanation of buying properties "subject to" existing financing - Triggering due on sale clause and potential risks involved 14. Risks involved in buying properties "subject to" and the importance of being able to pay off the loan if it gets called due - Purchasing properties "subject to" in a trust to mitigate risks - Examples of homeowners suffering during the last market crash due to properties purchased "subject to" ... https://www.youtube.com/watch?v=WMIO3AaYsLg

Eunicia Peret is an accomplished wealth strategist and business owner with over 15 years of experience in the financial services industry.   Eunicia honed her expertise by delivering significant financial improvements to the bottom line of Fortune 500 companies and renowned global brands across multiple industries. Her passion is to help multi 6 and 7 figure individuals optimize their wealth creation efforts by empowering them to understand how the wealthy go beyond 401(k)s, IRAs and other typical savings accounts to minimize taxes, maximize growth & fortify their financial future. Eunicia is a strong believer that those that seek more for their money and wealth creation efforts deserve to know the unfair advantages that financial institutions and financial advisors typically don’t share with their clients.  Her Wealth Freedom Formula is a personalized and hands-on financial consulting program offering end-to-end wealth optimization strategies that most people never experience when it comes to true wealth optimization efforts. Eunicia is focused on helping her clients achieve ultimate success versus typical mediocre results because the clients that have a comprehensive end-to-end solution are positioned to experience significant impacts to their financial outlook. Eunicia is a huge believer in empowering her clients with the tips, tricks, and know-how to grow and protect their money… in a way that feels right to them.  In addition to her own business, Eunicia serves as a strategic advisor to several business-oriented groups. Connect with Eunicia Peret: https://www.empoweredfinancialplanner.com/pitfalls Look for REI Mastermind Network and subscribe through iTunes or your favorite podcast app! If you like what you hear please give us a rating, like, and share. It really helps the show grow. SUBSCRIBE to the PODCAST! • RSS: https://feeds.captivate.fm/reimastermind/ • Website: http://reimastermind.net • Apple Podcasts: http://bit.ly/REIApplePodcasts • Google Podcasts: http://bit.ly/REIGooglePodcasts • Spotify: http://bit.ly/REISpotify • Locals: https://reimastermindnetwork.locals.com/ • YouTube: http://bit.ly/REIYouTube • Facebook: https://www.facebook.com/REIMastermindNet • Twitter: https://twitter.com/rei_mastermind • Instagram: https://www.instagram.com/reimastermindnet SUPPORT THE SHOW! • Get Six Months of RentRedi for $1 https://app.rentredi.com/signUp/JCH191 • Join the Community on Locals! https://reimastermindnetwork.locals.com/ • Get $10 and Reduce Your Business Costs by Shopping at AppSumo: https://bit.ly/reiappsumo • Get $10 Towards Your First Purchase at Drop: https://drop.com/?referer=3DC729 "You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - JD ... https://www.youtube.com/watch?v=X9Elagnw8o0