Yesterday, Marcus Maloney showed us how he built his deal-finding machine. Today, he tells us how he’s hanging onto it by making two big shifts in his business.
When the pandemic hit, lenders got nervous… and that put a couple of Marcus’ deals in danger. So did he give up? No! He tapped his own network of private lenders to provide financing to his end buyers—a win-win-win.
Plus, Marcus tells us why he’s shifted focus to the Midwest since we first spoke and how he worked out a deal with a “great tenant” who wound up unemployed and unable to pay rent.
Wondering how to adjust your business to the new normal? Check out this episode, and subscribe to the BiggerPockets Real Estate Podcast so you won’t miss the next one.
In This Episode We Cover:
- The problems Marcus ran into in mid-March
- How he plugged the gap with private money
- Developing relationships with private lenders before you really need them
- Why he’s concentrating on a lower-priced market
- How he negotiated with a resident who could no longer afford rent
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Podcast
- BiggerPockets Podcast 386: Starting Out With $200 and Investing for Profit AND Cash Flow With Marcus Maloney (Part 1, Pre-Coronavirus)
- BiggerPockets Podcast 352: No Driver’s License, No Money, No Excuses: How Diego Corzo Blazed a Trail to 18 Doors
- BiggerPockets Webinars
- BiggerPockets Radio Podcast 001: Building a Successful House Flipping Business and Losing Millions with Marty Boardman
- BiggerPockets Podcast 382: No Money Down BRRRR Investing with Josiah Smelser (Part 1, Recorded Pre-Coronavirus)
Check the full show notes here: http://biggerpockets.com/show386-5