s4e49 Go Out and Get Your ‘No’s’ with Linda Locasio

Welcome to the Get Traction Podcast, a show aimed at educating aspiring real estate entrepreneurs. Today, Tom welcomes to the podcast real estate investor and broker, Linda Locasio, who explains lease options, how to set up resale prices with a buyer and the average profit she makes on an investment. Linda goes into detail about how she operates as a real estate investor and key insights and lessons she’s learned throughout her entrepreneurial journey.

Key Takeaways

00:40 – Tom introduces today’s guest, Linda Locasio who joins the show to share her experience as a real estate investor and broker
03:59 – Lease options explained and how Linda operates as a real estate investor
12:29 – Setting up a resale price with a buyer
20:11 – How much profit Linda makes on the average property
25:49 – Linda reflects on her experience as a single, independent investor
27:59 – The role marketing plays
30:16 – The secret to getting paid
39:01 – Advice Linda would give to beginner, intermediate and expert investors
47:26 – Seeking deals out everywhere
53:04 – Tom thanks Linda for joining the show

Tweetable Quotes

“The big thing to remember here is banks don’t want real estate. They’re not in the business of owning real estate. Banks are in the business of loaning money. That’s what they want. They don’t want to be a land lord. Banks want money.” (10:01)

“These people don’t care about the purchase price. They care about the monthly payment. So, it doesn’t matter for the most part. But when the appraisal man comes knocking at the door, he really determines what the sales price is gonna do.” (13:57)

“Most of the ones I buy are what I call ‘Bread & Butter’ properties. I don’t want anything that’s real high priced and I don’t do the slums.” (20:32)

“You know what it all comes down to is marketing. If you know how to market, you can sell or buy anything. If you’re on the market for properties, then you need to market for them.” (28:49)

“Go out and know that you’re gonna get ten ‘No’s’ today or tomorrow. You want to get your ten ‘No’s.’” (39:40)

“The more you have, the more you have to be accountable for and take care of.” (51:34)