Multifamily Podcast Network

Being a realtor is a great way to make a living. But when you start out, you suffer from “commission breath” because you have to beg for a listing or buyer. Making sales is much easier when you’re an investor. Wholesalers are overpaid realtors. You make more money because you can wholesale to other investors and list their fix-and-flips. Don’t get stuck being a realtor.

Today, my guest is Kris Ontiveros, a.k.a. Cashflow Kris. He started out as a realtor, and then became a real estate investor focusing on apartments. Kris co-hosts the Flippin Fridays/AZ Flip Guys show with Brayand Ponciano. They’re two ordinary guys doing extraordinary things.

Topics on Today’s Episode:

  • Realtors only get 3% of a deal – table scraps to be at someone’s beck and call
  • Current market stats look good, but numbers are trending in the wrong direction; list price to sale price is going down and days on the market are going up
  • Such stats lead to future opportunities; it’s going to be easier to raise money
  • Paying too much for a property doesn’t make financial sense; it’s like a house of cards just waiting to tumble
  • Kris is basically a fundraiser; deals just flow in without doing any marketing because his network simply hands him off-market deals
  • Kris has done many deals with private lenders and returns their money; long-term financing a project leads to them being ready to fund his next deal
  • Smile and dial, shake hands, and kiss a lot of babies to get to know capital; people give you money because they have a professional relationship with you
  • Cash flows from people who can’t handle it to people who can make it grow; money is always looking for a home and dealmakers
  • When people ask: “How much is your minimum investment?” have a bold and brazen number in mind
  • Never take someone’s last dollar – they become a problem and a pain for you
  • Trade up your money; everybody’s climbing a ladder and looking at something, so climb as fast as you can
  • Cash flow is the goal and the future of multifamily is bright; even if money from multifamily slows down, keep a foot in the door until you get enough cash flow
  • Be careful because real estate is sexy, but  lot of work – know what you’re doing by mimicking or partnering with a pro

Links and Resources Mentioned:

Quotes:

“Real estate is so amazing. There are so many different ways to make money in this business. We know that we’re just straight up fundraisers at this point.” Kris Ontiveros

“As long as I’m financially free, as long as the bills are being paid and there’s checks coming in every single month, I’m going to be hppy.” Kris Ontiveros

“The goal is cash flow. That’s what I want.” Kris Ontiveros

“There’s going to be some blood in the streets. There’s going to be some opportunity coming.” Corey Peterson

Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

 

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