Carlton Withers Jr. - Unconventional Real Estate Investing

A Hustlers Playbook

UNCONVENTIONAL REAL ESTATE INVESTING

By: Carlton Withers Jr

Unconventional Real Estate Investing

Copyright 2020 Carlton Withers Jr

All rights reserved.

This book is sold subject to the conditions that it shall not, by way of trade or otherwise, be lent, resold, hired out, or otherwise circulated without the Publishers prior consent in any form of binding or cover other than that in which it is published and without similar condition, including this condition, being imposed on the subsequent purchaser.

When you think about making money in real estate what comes to mind? If youre like most people you think of flipping houses, wholesaling, or buying a property and becoming a landlord. But what if I told you there were about 100 different ways you could get paid in real estate? In this book Ill discuss my favorites. A number of which I am actively doing or have done. These are techniques that you will not learn from the gurus of Instagram or YouTube. These are techniques Ive learned through trial and error. My biggest pet peeve is people who hoard knowledge. Thats the reason I wrote this book. These are real strategies that produce real results when implemented correctly.

Depending on your strategy, real estate can be a somewhat unpredictable game at times. Right now, as we speak, its the middle of May and I have a deal under contract that was scheduled to close this Friday. Due to unforeseen circumstances, closing has been pushed back to early next month. In times like this, you have to have multiple streams of income; its no longer a choice but a necessity. Ideally you want to create multiple streams of income within the same field. Im going to teach you how you can create multiple streams of income in real estate. While the title says unconventional real estate investing I figured Id throw in a few strategies that dont involve investing money to get paid in real estate but are more like side hustles.

Coming from New Jersey (or anywhere on the East Coast for that matter), its almost like theres an innate hustle that you just inherit at birth. Ive done it all from selling weed in my teens, selling cutlery door to door for Cutco, to even becoming a barber at 18. You name it Ive done it. While serving in the military, deployed to Afghanistan, I barely spent a dime of my paychecks. I sent everything home and made my spending money by cutting hair outside of my barracks. There was a barbershop literally 20 feet away from where I cut, where the local Afghans worked but most of the base had heard about how good I was and preferred to come to me.

At age 18, as a new barber working at a barbershop in Burlington City New Jersey, I figured out that I could prop open the door of the break room at the Hair Factory and solicit new customers who would meet me at the front door. And it would look like they had come to the shop to get a haircut from me. If you think this is unethical, understand that it was a dog eat dog, every man for himself environment and I was the low man on the totem pole. Eventually my boss caught on and told me I wasnt allowed to spend all my time in the break room anymore.

At 16 when I was first introduced to selling weed, I was given an ounce on consignment to sell for a friend. Already having money from another transaction, I had made in which I didnt owe anyone, I paid my friend back quickly and took my time selling his product so I wasnt under stress to sell it. What does any of this have to do with real estate? Everything! This is the basic foundation of how Ive been able to grow and scale a real estate business over the last 4 years by applying the same hustle to ethical more acceptable hustles. My philosophy is that an entrepreneur is an entrepreneur. If you can sell weed, you can sell houses or anything else for that matter. At 16, I was a misguided and misdirected youth. Growing up in a single parent household where the basic necessities like school clothes and dinner werent provided on a consistent basis, I had to hustle to take care of myself and my brother and thought I had limited options to do so based on my environment. Naturally I gravitated to what was around me.

Fast forward 13 years to the age of 29, Im far evolved from the days of weighing and bagging weed sacks to make a quick buck. I dont even smoke weed, although its legal where I live in the state of California. Ive earned a Bachelors Degree in business, served my country in the Army, wrote a few books, flipped houses, implemented the tactics in this book to earn money in real estate, and am in the process of earning an MBA. But I still remember the lessons I learned whether from the Army, the streets, or the barbershop and they all factor into what Im about to teach you.

Flipping houses is not the only way to make money in real estate. Being an experienced house flipper, although it can be lucrative and often times is, I can tell you its stressful, somewhat unpredictable, and requires a lot of your time and attention. With that being said, there are a large number of ways you can get paid in real estate working for a house flipper. If you read my e-book: 5 Dumbass Myths That are Stopping You from Investing in Real Estate, you remember when I said that we are paid in direct proportion to the problems we solve. Easing the problems of a house flipper takes a big weight off of his/her shoulders and can lead to a nice paycheck for you.

Right now, you may not have the capitol to flip houses, or even know where to start. To be honest, you dont need to. The first few topics Ill discuss wont deal with investing in real estate directly, but are extremely valuable stepping stones that can help you become a strong, knowledgeable real estate investor when youre ready to do so. Real estate investing is a competitive world and the more you know the better. Think of yourself as a handyman and these tools as the tools you have in your toolbox. You can either approach every job with a hammer and a nail or you can have a full tool kit.

This section will be very short because while its a very valuable tool, Im sure its not why youre here. Ill get to the fun stuff later but I want to discuss this because its important and will set the tone for being creative and thinking outside the box in real estate. Becoming a bonded, licensed, and insured general contractor is a valuable secret weapon to have when it comes to real estate investing. As a general contractor youd be hired to improve properties. Not only can you make good money doing it, but you learn the process of flipping houses. You learn how much a repair is going to cost just by looking at it.

You can walk into a potential real estate deal and estimate that its going to cost you $40,000 to renovate the property. Knowing that and the fact that the property will be worth $240,000 fully renovated for example, you can work backwards and figure out how much you need to pay for that house in order to make a profit. Doing general contracting for a few years could help put you above most real estate investors when you start doing deals because not only are you building skills in evaluating properties, youre learning project management and building relationships with house flippers. This will come in handy later.

To get started, youll need money, knowledge of the trade and to fill out paperwork to take the exam and get licensed. Because every state is different, Ill leave it to you to research what the process looks like in your state and get into other ways you can make money and gain knowledge of real estate investing by adding value to an experienced real estate investor.