Being A Long Distance Investor with Cindy Byler Pt.4

Feb 26, 2021

This episode is part 4 of my conversation with Cindy Byler, the owner of Passive Patriots, LLC. She is a buy-and-hold real estate investor who primarily invests in her hometown-area in Elmira, NY, who currently lives in Central Texas.  So all acquisitions, remodeling, and rentals are managed from over 1600 miles away. If you couldn’t follow this episode, please go back and listen to parts 1 to 3 on episodes 58 to 60.

 

Let’s jump right into this episode and learn more about creative financing and subject to deals.

[00:01 - 07:29] Buy and Hold Sector

• Cindy talks about the Buy and Hold sector.
• • She explains the1% rule’ formula. 
• Nathan talks about the impact of COVID on his real estate business. 
• • He shares his vision for his career.
  • Looking for financial freedom to do the things we truly love
• Cindy talks about how her musical and educational background helps her in her real estate career.
• • Creativity is necessary to overcome any obstacles in life.

 

[07:30 - 18:45] Creative Financing

• She talks about her experience in creative financing.
• • Financing her property renovation 
  • Get a revolving credit and simple interest.
• Simple interest VS. amortized loan
• • Simple interest on the credit card could be cheaper than the amortized loan.
  • Velocity banking
• Nathan talks about his view on the FIRE movement.
• Cindy talks about the patterns of the FIRE group community.
• Creative acquisition
• • You don’t always have to have a lot of money; with the creative acquisition, you can find other ways to obtain these houses. 
  • Knowledge is power when utilized properly. 
• Subject to deals

 

[18:46 - 25:07] Subject To Deals

• Working on a mortgage with the banks
• Cindy talks about the subject to deals.
• • Due to the sales clause
• The more equity on the property, the more likely the bank will come after you.
• The importance of being transparent and upfront with the person who is signing over the house to you.
• Helping and adding values to our community through real estate 
• • helping distressed Sellers 
  • Providing some nice living quarters

 

 

 

Tweetable Quotes:

“Creativity is necessary to overcome any obstacles in life.”- Cindy Byler.

 

“You don’t always have to have a lot of money; with the creative acquisition, you can find other ways to obtain these houses.”- Cindy Byler.

 

“Knowledge is power when utilized properly.”- Cindy Byler.

You can connect with Cindy on Linkedin.

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