111: Real Estate Investing Helps Turn Tragedy to Triumph

SHOW NOTES FOR EPISODE 111 – REAL ESTATE INVESTING HELPS TURN TRAGEDY TO TRIUMPH

When concert violinist Ben Leybovich was told he had MS his life plans came to a screeching halt.  With his future in question, he took to real estate investing as a means to not only generate income for now but to provide for his family in the future.  In this episode, hear how Ben’s decision proved to be a wise choice and one that has opened up many other opportunities as well.

What You Will Learn

• Why he selected real estate investing to help support him and his family when he got the word he had MS
• How to leverage properties to buy more properties
• Smaller deals attract investors much easier than large syndicated deals
• Why he went from purchasing single family homes to small apartments
• How creative financing ended up be the “rule” more than the “exception” with all his future purchases
• How his properties and his business survived the the 2007-2008 crash

About Our Guest

Ben Leybovich

Ben Leybovich is a real estate investor, author, blogger, and internet entrepreneur. He was born in Russia–lived in Ohio–and recently relocated to Arizona where he lives with his wife Patrisha, and twins Aaron and Isabella. Ben is a professionally trained violinist, but his entry into real estate was precipitated by a medical condition. Ben is the creator of Cash Flow Freedom University.  You can learn more about Ben at his website: www.JustAskBenWhy.com

More About Ben

• Played violin since age 5
• He wanted to be a concert violinist
• Training as professional violinist at University of Cincinnati
• Diagnosed with Muscular Sclerosis
• Doctors said he will eventually be confined to a wheelchair
• The news devastated him – could no longer play violin and he didn’t know how he would survive financially
• Heard about real estate and it seemed the easiest “business” to do to generate passive cash flow
• He knew the “passive” aspect was key if he was going to be disabled at some point

First Purchase

• Single family house that needed rehab (a flip)
• Set up a line of credit on his home
• Had a friend to do rehab and help finance
• Friend bought the property from Ben
• Ended up being a “wholesale deal”
• Took the money he made to help pay off student loans (he looks at that as a mistake now)

Next purchases

• Then bought a duplex in 2006
• Wanted to focus on small multifamily properties
• Did creative financing – Got a private investor. Arranged with seller who had two buildings.  Ben bought first building and the money would flow into the second.  Later rehabbed, re-financed

When 2007-2008 Happened…

• He had a number of properties and he fared well
• Continued buying properties and used more creative financing
• Still continues with creative financing today
• Currently, has 21 doors

Rap-It-Up

• Favorite real estate book: Rich Dad Poor Dad by Robert Kiyosaki and  How I Turned $1,000 into Five Million in Real Estate by William Nickerson
• Favorite business book: The Success Principles by Jack Canfield
• Most valuable web site for success (other than your own): BiggerPockets.com
• Favorite app: VRBO and AirBNB and Stripe.com
• Favorite quote: “From a distance stumbling blocks look a lot like building blocks.”
• If you had to start all over, knowing what you know, and you only had $1,000, what would you do to launch your real estate investing business? He wouldn’t need the $1,000. He would find an investment and then find the investors.

How to Reach Ben

• JustAskBenWhy.com
• He has Cash Flow Freedom University accessible through website

This Episode Brought to You by HealthIQ.com

This episode is brought to you by Health IQ, a very special life insurance company that gives health conscious individuals the best life insurance rates and quotes.  Learn about what they can do for you specifically at HealthIQ.com/olddawg.

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