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Understanding Hard Money Lending: Dewey's Fast-Paced Investment Triumph

podcast Aug 25, 2023

How fast can you learn, and how soon can you then own and earn? Welcome once again to the Open Spaces Real Estate Sensei Sessions, where students who are going through Palak and Niti's program share the deals they're making, as well as their insights, their ups, and their downs in the world of real estate. This is a valuable way of offering community support to other first-time investors out there. 


Dewey is one such student and he is joined today by Open Spaces' Chief Media Officer, Cheryl Tan, as he shares his rapid journey of investing in real estate, and how Palak and Niti's story of being "busy with life" but also wanting something more resounded with Dewey.


What’s even more impressive is that Dewey at first thought that this was only a program for women looking to earn in real estate! Undeterred, he watched the Facebook videos and signed up! Side Note: This is ABSOLUTELY a program for ANYONE looking to take that next step toward time and money freedom.


Dewey's 'why' (as Palak and Niti have explained to us previously) was strong enough so he decided to 'go for it' and invest in his first property while only having been in the program for a month. But the numbers came out right on the BRRRR calculator and Dewey is now on his way to increased financial freedom!


Please join us as Dewey shares his step-by-step process, and how things have unfolded with his realtor as he pivoted from turnkey properties to using the BRRRR method.  


Dewey also graciously shares on how Palak and Niti's program has supported him as he's applied the BRRRR strategy and now finds himself owning his own property rental. 



"After a few weeks of being into the program and after I signed up, I basically binged on all of the modules. And I got to the 'Hard Money Lending' and lights started to click." ~ Dewey 



In This Episode:

  • 02:50 How did Dewey zero in on the property he has under contract now? 
  • 05:00 How did Dewey deal with the anxiety of everything coming together so soon? 
  • 07:00 Dewey shares on his turnkey avatar and shifting to BRRRR properties
  • 08:55 How do you find a realtor that you can trust?
  • 10:00 What parameters did Dewey give to his realtor?
  • 16:25 Learning how to ask your contractor to be creative in cutting costs
  • 23:25 What does 'stretching your money' look like to Dewey?
  • 24:40 How does Dewey see the market looking? 
  • 28:00 How 'Hard Money Lending' and understanding the BRRRR strategy has helped Dewey




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