Even though I was doing great in the wholesaling business, I knew I needed more coaching help. I learned Bill Bronchick was putting on a weekend real estate investing class in Denver and I flew up to attend it. I was really impressed with what I learned and became one of his students. I can say that I am still receiving assistance from Bill because his depth of knowledge is expansive and he is very helpful. Bill is also a real estate attorney so he assists me with legal documents when I need it.
One time, Bill helped with a property I bought at auction in Denver. I was planning on fixing and flipping the property, but it was in a bad part of Denver and I did not know it. Bill told me to get out of it so I owner financed it to another investor (with Bill’s legal documents). It worked out great for me and I learned another side of the real estate investing business in doing owner finance. I have done several owner finance properties since then and it is a great way to do passive investing…whether you own the property outright or you have a mortgage on the property!