Did you know over 70% of professional athletes go broke after their careers?!
One of my personal missions is to significantly decrease this statistic…
Personally, I believe it is a result of lack of financial literacy and not making the proper long-term investments, during their career.
In this video, I have the honor of sharing some insight of my experience investing alongside a great friend, Terrelle Pryor.
He and I first met, in order to help build his credit and after multiple conversations later… he is now investing into the Columbus, OH Real Estate Market alongside us at 0 Percent.
Our goal is to help him make more money off the field and build generational wealth, investing into Real Estate.
Yow! What’s up guys! My name is Tyler Bossetti. I’m co-founder of zero percent and a real estate developer here in Columbus Ohio very very excited for you guys to check this video out I have one of my clients and now become one of my good friends Terrell Pryor that came into town [Applause] [Applause] in although he’s made a ton of money on the field.
I’m excited because we put things in place from an overall financial literacy standpoint with credit how to build income streams and ultimately how to build generational wealth investing into real estate he’s going to make even more money off of the field so I hope you guys enjoy this video and I’m looking forward to connecting with you guys if you’re an agent or if you are a professional athlete and you want to know how to build generational wealth and leverage the income that you’ve worked hard for.
Let’s connect looking forward to speaking with you and hope you guys enjoy this video it’s so good to be it’s so here to be here [Music] yo what’s going on guys we are at the first property a12 814 east Whittier I got our boy Esteban and my main man right here tp you guys know who it is but we’re gonna walk you guys through the property and share what we’ve done with this project in the last 60 days.
We’re about 90 done it actually would have been done like three to four weeks ago we ran into a small little hurdle that’s okay though that is where you learn and that gives you the ability to make more money and be able to grow and scale in the future so we’re going to walk you guys through step by step what we’ve done with the project.
So far you can check out and see what it looked like when we first purchased it but Tyrell and I we’re 50/50 in this deal and really really excited for this first one to get you know wrapped up here shortly so if you wanted to share a little bit my man yeah.
This was totally you know pretty much naked you know it was beat up that as you can see the the windows they’re boarded up and all that stuff so I’m pretty excited to get down here to Columbus and check out my guys and see what they did yeah and just a reminder there’s four four things when it comes to real estate how do you find the deal how do you fund the deal, how do you facilitate it and how do you disposition the deal.
So we found this actually on the ML’s not many people realize that there are still good deals on the ML’s but being able to to pay cash for the project allowed us to close sooner it allowed us to get a better sticker price so when we were able to actually access the units and we realized that everything was stolen out of there.
We were still in the clear so we make money on the purchase going in and then having a lovely Esteban here that knows the ins and outs from the contracting side he understands our massive vision that can help you save and make a lot of money in the future so let’s go and check out inside looking forward to seeing this wrap up soon.
[Music] Yeah so like talking about the disposition one thing that was so lucrative about this deal is the unit that we’re we’re standing in right now it’s a part of a seven unit building and so we’ve been able to accumulate the other units and we can actually sell each of these units separately if we want our goal though is to keep yeah you know because why do we keep going to keep cash flow you know.
That’s like like he teaches me and tells me all the time that we speak about his we want to up the value you know that’s the only that’s not really the only deals he does and what he’s taught me to you know to go after him so up the value of the deal refinance get the money out you know cash flow.
Yeah you know and you know just go to the net let’s go get some more yeah because we could sell this and make like you know easily probably 60,000 of profit minimum each unit but you just become an employee of your own business and you’re just fixing and flipping properties accumulating all this cash paying taxes on it.
Whereas if you buy a property fix it up you get your money back like like Terrell said you’re keeping assets right you’re keeping that cash flow coming in there’s tax benefits and and then you can use that profit after the refinance to go accumulate more so what you guys can see right here again we are about you know percent done yeah.
So this is gonna be easy to bang this out yeah I don’t know if you also talk about the other east these other Whittier spot spots on this on this block right here that me and Tyler it’s mostly cosmetics work so yeah it’s going to be done you know we’ll be able to bang that out get some people in there pretty fast.
So yeah I’m excited about this one yeah this these two units were the more intense ones the the other ones in the building they were just yeah like you said more cosmetic and they’re going to be cash flowing from day one so they did a hell of a job Esteban and and my man Tyler on this deal because this was completely gutted.
I mean like I said outside I mean there’s they’re framed within the wood on the walls outside you know like I don’t know like a scary movie or something they did a great job he called me and said I sent him over like what eight deals to look at and all the other eight deals they looked a little sexier on paper the houses look nice and this one looks scary there’s boarded up windows and he goes I like that one right and that was actually the best deal that I sent over to him and I was like oh this guy’s getting it.
He understands now yeah yeah I mean yeah I don’t wanna I don’t know you know he and this comes from him you know he taught me this as well you know there’s sometimes I’ll send him stuff in Pittsburgh and I’m like hey what do you think well you know like you can’t really add any value to this so he’s like I mean you could you could get it you know you could cash flows but why yeah you could buy for an appreciation but that’s not going to make you money.
Making money that’s one mistake that I’ve seen a ton of older investors make they bought for appreciation back in the day and now they’re getting rid of their 10 12 house portfolio because they’re retiring and at the end of the day another thing is this though this is key.
I want you this to be on that a lot of people they buy and I have a lot of friends that buy properties that it’s pretty much already done like there’s no upgrades needed done really but it’s because they don’t have guys I guess yeah you know that’s able to you know he’s gonna come in here walk in here and say hey you know this is gonna take 30, 40, 50, 60, 100 grand to you know upgrades to here whereas other people they don’t really trust the guy you know.
The people that they’re working with so that’s a big deal yeah there’s the four areas like I always try to remind myself of is like how are we consistently finding deals how are we funding them right and that’s the lucrative stuff I’ve taught you as well with like the credit side because it’s not necessarily being able to have good credit to say you have good credit but you can leverage credit to pay the contractors.
So you’re putting all that money on a card that you’re getting points for and you can have better bookkeeping but most importantly is it can allow you to potentially purchase the property 100 finance and or it’s super important to have your finances and credit aligned so you can refinance and you can get your money back and you don’t run into issues on the disposition which is step four in between to get it from looking like a crack house to looking like an actual place where people want to rent is the contractor.
Having a contractor that you vet properly yeah you’re not getting Esteban though he’s ours so if you’re watching this video and you’re in Columbus zero chance he’s ours what’s what are we doing here like in the week in the kitchen factor we have a chimney behind you.
You’re going to replace it re-tile it up spray it black on the inside just really making a modern place where people want to play when they come into our place versus this place across the street they’re going to say they want mars even though it’s the same price or maybe a little bit higher that the wow factors is what it is right so open concept cam lights higher balance through stairs just going to check out the bathroom.
We’re not doing the usual subway tile we did we did something a little bit different yeah what 300 other houses that you’ll see on this one yeah let’s go check out other I think they’re just a demo phase so yeah we were trying to figure out hey is this gonna is this gonna be Airbnb or do we go into just the rental grade right and also too from the disposition like you have to have multiple exits.
So although we can you know sell Airbnb like that’s all great but these are so ready these are cell ready where for whatever crazy reason we look at each other and be like yo we need some capital or we don’t want these deals anymore you never know so you have to have options you can say let’s just sell these two and keep these five.
I was sitting at the closing table signing off these properties bro like the 8 12 8 14 these were worth like 190 to 200 from the time that we’re going to be done these are going to be worth 225 a unit we need to go buy this voting over here and we’re like hey screw this we can sell these two we can take that 600 dollars if we need it boom.
We keep the other five or we sell the whole thing like yeah you got it you got it one could pay for all the rest of them right yeah so yeah that’s that’s kind of what the strategy was here there’s three things that will get you in trouble in life.
I talk about it all the time it’s three l’s liquor ladies leverage so the third one leverage is we can consistently leverage the properties like when we purchased this Trello and I looked at the numbers and we said oh okay it’s going to be worth each unit 200,000 let’s say best-case scenario now it’s like worst case scenario with 200,000 best case it’s worth 225-250 so you know five years from now it’s going to be definitely worth 225-250 not even question if not 300 if we can go back and keep borrowing against that at a very cost effective rate whether it’s three to seven percent.
Doesn’t matter we take that money we’re buying more assets that’s giving us a much higher return than three to seven percent on the loan so that’s one reason why you should consider real estate is leverage using other people’s money the bank’s money so you can go buy more right.
You can go you know continue to get cash flow that’s right amen you also gotta understand when we do yes are you paying money up front but you understand you know as you teach me and as you know just conversations you know we’re getting it back yeah we’re still going to have somebody come in here appraise this property and say hey this property is worth you know this side and that side what 225-250 you know.
You know best case worst case scenario whatever and we’re going to get 80, 75, 80 of that money back so that’s a key and that’s you know so you know putting that money up front I believe and I believe in making the make it a beautiful you know thing yeah.
I’m talking about the series every time you buy some real estate you can buy some shoes okay go buy some real estate shoes he loves your shoes right then when you buy a second [Music] jumping on his g wagon walking like this that’s funny yeah yeah this looks good though yeah we want to do yeah we want to do this shoot we want to do the right way.
We’d rather say hey let’s I mean we got to wait for the city if it takes four weeks whatever but it’s going to be done right and we’re still within the timeline yeah we don’t have to rush anything we want to do things the right way because again you want to nurture those relationships build trust and in two three years when the property is still in precedent condition because we did things right.
That’s where you really see high invested in the right yep exercise absolutely there’s a level of tenacity and at the end of the day we know it comes down to empowering people with information and then empowering them to make the right investments like Esteban said real estate’s sexy right.
Everyone wants to do it the housing market’s crushing the interest rates are low all this stuff right could it go crash and burn tomorrow I don’t know no one knows but at the end of the day you need I know you need somewhere to lay your head fax that’s a mic drop right there that’s it that was it right there that was it that was it perfect.