Creative deals with William Morales

William Morales has been in the real estate industry for the past 10 years. He hosts the Peer 2 Peer Real Estate Podcast where he helps investors – mostly the new ones – in cutting the learning curve of investing down from the industry’s experts. Peer 2 Peer Real Estate Podcast mainly focuses on creative financing, subject to lease options and owner financing. Through this podcast, William gets to talk with those we don’t often hear about – the contractors, asset protection lawyers, etc.
 
In this episode, William talks about his real estate journey, specifically focusing on having creative deals, as he shares his takeaways from each deal he’s closed in the past years.

Checkout: Raising Capital Without Rejection Full-Day Workshop (Online): https://investorattractionworkshop.com/

What you'll learn in just 16 minutes from today's episode: 

• Understand why it’s a must for you to have the act of following up a part of your real estate practice;
• Discover websites/links that can help you dive deeper into the industry and broaden your connection circle; and
• Find out the beauty behind having creative deals in doing real estate investing.

Resources/Links: 

• Rich Dad Poor Dad: https://store.richdad.com/collections/books/products/rich-dad-poor-dad-what-the-rich-teach-their-kids-about-money-that-the-poor-and-middle-class-do-not
• The Beginner’s Guide to Real Estate Investing: https://www.amazon.com/Beginners-Guide-Estate-Investing-Second/dp/047018342X/ref=sr_1_2?keywords=the+beginner%27s+guide+to+real+estate+investing&qid=1645441098&sprefix=the+beginner%27s+guide+to+real+e%2Caps%2C385&sr=8-2
• Realtor.com: https://www.realtor.com/
• Zillow: https://www.zillow.com/
• Facebook: https://www.facebook.com/
• Facebook Marketplace: https://www.facebook.com/marketplace/
• ForSaleByOwner.com: https://www.forsalebyowner.com/

Topics Covered: 

• 00:45 – How a book inspired William to start his journey in real estate investing
• 02:52 – Talking about creative deals: the first property from realtor.com and his decision to do buy and sell
• 05:08 – The lesson William learned from that first big deal
• 06:16 – What the realtor got after closing that deal with William
• 08:11 – More about the realtor William had a deal with
• 08:49 – William’s second deal: a lease-purchase/rental, alongside his not-so-good experience in Zillow
• 12:48 – William’s plan for the future: continue having creative deals and grow bigger on it
• 14:30 – Peer 2 Peer Real Estate Podcast and how it came to existence

Key Takeaways:

“It took me from 2007 to 2017 – 10 years – before I did anything. I did my real estate stocks, I invested in REITs and things like that because I was all over the place.” – William Morales
 
“Take something and just stay with it. Don’t be like me and be all over the place.” – William Morales
 
“The first deal [lesson] was not to give up. Be more persistent and follow up. I should’ve done more but I didn’t. I was lucky that the realtor called me back weeks later.” – William Morales
 
“I’m not giving rental credits and I’m not getting any myself. No interest. It’s pretty much principal pay down. We pass taxes and insurance to the tenant-buyer, but that money that I get, I put it away; never touched it. Just in case if I need that money, if I need to foreclose or evict, more foreclose on the tenant-buyer, I have their money set aside.” – William Morales
 
“Keep track of everything.” – William Morales
 

Connect with William Morales:

• Podcast: https://www.peer2peerrealestate.com/

Connect with Dave Dubeau: 

• Podcast: http://www.propertyprofitspodcast.com/ 
• Website: https://davedubeau.com/home 
• Investor Attraction Workshop: http://www.investorattractionworkshop.com/ 
• Facebook: https://www.facebook.com/thedavedubeau 
• LinkedIn: http://linkedin.com/in/davedubeau 

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