Lex Levinrad distressed real estate Investor, speaker and mentor

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Lex Levinrad

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BEFORE	AFTER



BEFORE	AFTER

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ABOUT LEX

My name is Lex Levinrad. I have purchased millions of dollars worth of single family homes in just my first few years in the real estate business. Many of the houses that I purchased were fixer upper homes in need of major rehab. Most of these houses cost me less than 50,000 to buy. Some of them required very little work and some of them required a lot of rehab to fix them up and make them rentable.

But little by little, one deal at a time I would buy them, repair them and rent them out. I am not a handy person so each rehab that I did required learning more and more about construction, working with general contractors and ultimately hiring sub-contractors myself.

The first rehab that I purchased looked like it was literally falling apart. Here is a picture of it:

When my mentor showed me this house I thought that he was crazy. How on earth was I going to make money out of this? The house was so bad that on that same day I overheard an investor tell my mentor “please tell me my house is not as bad as this one”.

I was about to get cold feet. But I trusted my mentor and decided that I was going to do my first rehab. I was sick and tired of bird dogging deals for other investors. I had seen them make tons of money while I did all the work for “them” as a bird dog and I wanted to make money too.. So I “took the plunge” and closed on my first rehab. I borrowed $50,000 from a private investor and agreed to put in $25,000 worth of repairs to the property. I borrowed the $25,000 from my best friend’s mom (thanks Denise).

After I purchased the property and looked inside I was even more worried. This is what it looked like:

The scariest part of the house was the roof. The hurricane had ripped the roof right off and when it rained the water just came straight in. This is what the roof looked like:

So I got to work and started working on repairing the house. Here are the roofers putting in a new roof on that same house:

And we worked on fixing the inside of the house. This is what the living room looked like when we bought the house:

And this is what it looked like after it was remodelled:

It took 3 months to rehab that first house. After spending $25,000 rehabbing this house my total cost was now $75,000. Once the rehab
had been completed I ordered an appraisal on the house. I was
shocked when the appraisal came in at $163,000.

At the time, the banks required 6 months seasoning on title so I rented
the house out for $1,500 per month while my payments were only 10%
on $75,000 ($625 per month). After 6 months had elapsed my mortgage broker got me a 30 year fixed rate 70% LTV mortgage for $114,000.

When I did this cash out refinance, I paid back my first investor the $50,000 and my second investor the $25,000. I was still left with
$39,000 in cash. I literally couldn’t believe the potential of this business. Here I had a house with equity of $49,000 + another $39,000 cash in my pocket. I also had a tenant paying me hundreds of dollars a month more than my mortgage payments.

This deal was better than no money down. It was no money down and we give you $39,000.

That first year I did another five houses. And since then I have done nothing but be a full time real estate investor. So many people kept
asking me how I managed to buy so many houses with no money
down. I got so sick and tired of answering the same questions that
I finally decided to write “my system” down. I didn’t realize it would be almost 800 pages. It took me over one year to write everything down. I took this information and added some audio CD’s and I called it
“Millions in Real Estate with No Cash and No Credit™”. This home
study course is all of the knowledge that I have gained from my first
five years as a real estate investor.

Now I have millions of dollars of rental properties and whenever I tell people what I do, they always tell me that I make it sound so simple.
Well it really is that simple. You just need to follow the information in
this course to see how simple it really is.

I know that it doesn’t seem simple to you. Just like it didn’t seem
simple to me when I purchased that first house that you saw above.
I know where you are coming from. And I promise you that your biggest obstacle is fear. Not money. Not credit. Not experience. FEAR is what is stopping you from being a multi millionaire real estate investor.

Whatever path or journey you went on, for whatever reason you arrived
at this page. I was just like you. My real estate career started with a late night infomercial from a top real estate “guru”. His course about buying real estate with no money down sounded too good to be true and I was skeptical. But I purchased that course and many others after it.

I am here to tell you that you can buy millions of dollars of real estate
with no cash and no credit. That is why I called my course “Millions
In Real Estate With No Cash And No Credit™

You see, after I purchased my first house and rented it out, I realized that I could do it again. I went to an investor and showed them what I had done with the first house and had no problem borrowing $50,000 from an
investor to buy this house:

After I put on a new roof and rehabbed this house it looked like this:

My new tenant (that’s his truck) paid me $850 per month to live in this house while my payment to the investor was only $416 per month.

When the house was appraised it appraised for $119,000 and the
bank gave me a 30 year fixed mortgage at a 70% LTV for $83,000.
I paid back the investor the $50,000 and now put another $33,000 in my pocket.

Yes, you can buy houses with no money down. The pictures above are the first two houses that I did and they were purchased with no money down and both had cash out refinances. After paying off all investors, my first two houses had a combined equity plus cash out of over $163,000.

I decided it was time to quit my day job. You see on my first two deals with not that much effort I had made a tremendous amount of money. I was so hooked that I became a full time distressed real estate investor which is what I have been doing ever since.

I now am a landlord with millions of dollars in rental property and I am here to tell you that you can do what I did. You just need to overcome your fear. The hardest part is starting. If you can just buy one house and see how easy it is you will overcome your fear. Then you will be able to go buy another ten houses with less effort than that first house. It all starts with the first house. But you have to want it. Really, really want it bad.

By the way, the above two houses are still rented out and I still own them. I can show you closing statements, refinance documents, leases and anything else to verify the above information. Unlike some “gurus” that claim extraordinary things I am here to tell you that an ordinary guy like me can do what you see in the pictures above.

You see I am just a regular guy like you. You don’t need a college
degree. You don’t even have to have completed high school. You just need to have the desire to remove your fear and get started. Your biggest two obstacles are fear and skepticism.

Unfortunately, many times those closest to us like our friends and family are very negative and skeptical. Before you listen to someone regarding financial advice you should ask yourself how successful that person is financially. They might be the dearest person in the world to you but please don’t ask them for financial advice if they are broke. You need to emulate and copy what you want to become. If you want to be rich, t hen watch what rich people do. Unfortunately we have been programmed as children that being rich is evil, that rich people are stingy and that money doesn’t grow on trees. How many times as a kid did you hear “we can’t afford that?”

Yes you can. You can afford it all. But you need to start somewhere. You need to realize that real estate is the easiest way to create wealth from nothing. It is as simple as that. No one can deny the fact that more millionaires have been created in this country from real estate than from any other investment. That is a fact!

Please don’t be a skeptic. I used to be a skeptic and it got me nowhere. I though I had all the answers about how to make money. I used to be a stockbroker and money manager and managed millions of dollars of other peoples’ money. I never made one red cent for my self or my family during those years. Don’t think that because you have a degree like I did or work in the financial or real estate industry that you know what there is to know about investing. The proof of the pudding is how many properties do you own? How much positive cash flow comes into your checking account while you are sleeping or on vacation?

Now, people ask me why if I am making so much money in real estate I bother teaching about it. Well I believe it is called giving it back. Kind of like the movie pay it forward. Many people out there are wannabe investors. These people will never be able to overcome the fear and take the plunge. It is a very difficult thing to do. I know. I worked as a bird dog for two years before I had the courage to do my own rehab.

But I know that out there somewhere is some individual that is reading this and thinking. I can do it. I can do what Lex did. And I am here to tell you yes you can. I want you to succeed and I am here to help you every step of the way.

I'm just a simple, guy who is lucky enough to have a great wife and 2 fantastic kids. I do the same things that you do with your family. I don’t have any special skills or talents. So that is my story I wish you the best of success and hope you are ready to take the plunge and get started as a distressed real estate investor.

I love helping beginning investors and I am always just a phone call away. Call my office at 800-617-2884 or send me an email to: lex@lexlevinrad.com and let me know how I can help you get started.