But we would have never been forced to learn how to get creative and learn how to structure deals creatively because when we started, we use banks for everything. I mean, it was definitely a blessing in disguise. It didn't feel like a blessing back then. Fortunately, we didn't lose our personal residence but the majority of our holdings, I mean, at that time, we had about 29 doors, right around $4 million in assets and just within months, it was down to a million dollars in assets on paper, cash flow was negatives and I look at that now, as such a blessing. So and in 2007, you know, in that short period of time, my wife and I had built up a pretty nice portfolio and, yeah, it we lost it. But we kind of got sucked into the craze of building new construction in Florida in the early 2000s, which went really well until it didn't. Yes, I just started out as a construction worker back in the day and started in 2003, just like most people do, you know, we buying and selling at that time holding rental properties and we were buying in the state of Wisconsin buying cash flow properties but we also got, I don't want to say sucked in in a bad way. Well, don't forget about the beer in Wisconsin as well. I think we're gonna have a lot of fun today, because we're talking about a pretty interesting topic here but before we get into the meat, and potatoes and sausage, as you mentioned, the in from Wisconsin, give all of our listeners a little bit of background and insight into who you are as an individual and what it is you're doing with real estate today. Yeah, I just appreciate you having me on. Hey, Derek, what's going on? Thanks so much for taking the time to hang out with me today. So let's get into it and hear about Derek's private money and sophisticated purchasing strategies. I'm Michael Albaum, and today I'm joined by Derek Dombeck, who's an investor, owner of a private lending company as well as conference host. Hey, everyone, welcome to another episode of the real estate investor. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock.
The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. In today’s episode, Derek shares his strategy for creative deal structures and how he raises private money to execute more deals.īefore we jump into the episode, here's a quick disclaimer about our content. Circle of Trust and puts on an Advanced training and Networking event each winter called The Generations of Wealth Voyage. He is currently hosting 3 national Mastermind groups called the R.E. There he coaches and teaches other real estate investors his keys to success. Derek Dombeck, a Real Estate Expert hosts and runs the WiscoREIA based out of Wausau, WI.