Developing Bank Relationships to Fund Your Real Estate Rehab and Acquisition

In this episode, join us as I sit down with Real Estate Investor Maurice Demosthene for a Q&A to answer your most pressing questions on how to start investing in real estate and how to develop bank relationships to fund your real estate rehab and acquisition. Maurice is a Haitian immigrant who quit his job and pursued real estate investing after proposing to his now-wife. He has been in the industry for 16 years now with a 30 unit portfolio in Southwest Philly and has come to a point where they can buy property whenever they want. We talk about different strategies to start investing in real estate, how he flips properties, ways to look for deals, and how to manage your own team. We also talk about the key things of success while answering your questions. Sit back, relax, and listen here for this informative Q&A with Maurice!

In This Episode: 

• [06:13] Our guest, Maurice Demosthene’s introduction.
• [09:44] A wedding doesn’t have to be lavish. You can use some of the money from it to invest. 
• [14:57] Which is better when you start investing in real estate, flipping or purchasing?
• [17:55] Maurice’s wholesale business.
• [23:39] The strategy for finding deals in Multiple Listing Service (mls.com).
• [36:28] How to effectively delegate tasks in your business. 
• [42:26] What’s the cost like for Maurice’s largest building deal, the process, getting a lawyer, and how he got approved.
• [50:23] Developing relationships to use a bank that can fund your property rehab in acquisition.
• [51:50] Recommendations on which areas in Philadelphia to start your first project in.

Takeaways: 

• Figuring out what is the best way for you to start your real estate investment.   
• Strategies to build relationships and find deals that you can close.
• Onboarding the right people in your business and delegating tasks effectively can significantly help you in the long run. 
• A flipping strategy can be great for you if you love the process of property rehabilitation.
• Ultimately, discovering what kind of investor you are and who you want to be in the business, will help you figure out where you need to start your real estate project.

Links:

https://www.linkedin.com/in/maurice-demosthene-42a06733/ - Maurice Demosthene’s LinkedIn

https://twitter.com/RealEstateRico - Maurice Demosthene’s Twitter

http://www.mrdhouses.com/ - Maurice Demosthene’s Company Website

Guest Bio:

Maurice Demosthene came from a family of Haitian immigrants and is now a husband and father of two children. He graduated from Temple University and has been a real estate agent at Realty ONE Group Legacy since 2005. He has been invested since 2010 and has a 30 unit portfolio in Southwest Philadelphia. 

Maurice’s mission is to help buyers and sellers make educated decisions about real estate. As someone who has been in the industry for 16 years, Maurice has extensive experience buying and selling real estate in the City of Philadelphia and its surrounding counties.

Connect with Better Than Success 

• Learn more about Better Than Success Real Estate League at www.betterthansuccess.com/btsrel
• Sign up to attend our Real Estate Q&A live at www.betterthansuccess.com/events
• Get access to our FREE Real Estate Beginners Class at www.betterthansuccess.com/freecourse