Digital Social Hour
The $500 House Hack That'll Change Your Life | Joseph Griffin DSH #1041
01 Jan 2025
Chapter 1: What are tax deeds and how do they work?
Facts. People want that instant gratification these days. And they'll give up in two months.
Chapter 2: How did Joseph Griffin start in real estate?
Yeah, they'll say you're a scam for giving up after two months.
Chapter 3: What is the Tax Deed Wolf Fund?
Two months they'll give up. People will work for 40 years for somebody else, but they can't give themselves three years. All right, guys. Digital Social Hour in the new studio. Joseph Griffin here today, and we're talking tax deeds. Yes, sir.
Chapter 4: How can you buy houses using credit cards?
1,200 episodes, and I've never talked about this on the show. Man, I'm about to light it up.
Chapter 5: What are the strategies for wholesaling before auctions?
Let's go. Get ready.
Chapter 6: How can you make money in real estate with no money?
We'll start off basic because probably 99% of people don't even know what that is.
100%. So let's break it down. What happens is in the US, whenever you own a property, you have to pay your property taxes. You don't pay those property taxes. County's going to come. They're going to take that property. You're going to sell it as some form of auction. This has actually been going on for a very long time. If you watch like the shows from back in the day, you didn't pay the king.
They came and they beat you up. They don't beat you up anymore, but they will take that property. I love it. So you just started going to these auctions and buying properties. That's how it started.
Chapter 7: What is OPM (Other People's Money) and how is it used?
That's how it started. I was nursing at the time. I was military, actually. They sent me to medical school, then LPN school, then I became an RN. And I had a little bit of money as an RN, and I'm like, man, I need to get into real estate. That's what all the other millionaires are doing. But I didn't think I had enough money, and I didn't know nothing about credit or none of that back then.
So somebody told me about it, and I looked it up, and I was like, no way. I entered my first auction, got a property for $3,000. Wow. My second, in the same month, $1,900. Holy crap. And at the same time, used my VA loan and just got the keys to a house with no down payment. Damn. So here I am, like in my 20s, three properties using less than like $6,000. I was like, okay, this is where it's at.
That's a money printer. Oh, yeah. So you made more in a month than you did your whole life. Yeah. Well, technically, yeah, because when I finally sold that house that I got, 200K profit. Whoa.
Chapter 8: Why is consistency important in real estate investing?
Yeah, I got it at like 70,000. I sold it at like 300,000. Holy crap. And what state was that in? That was in Florida. It's a small city, Deltona, Florida. Okay, so that's probably a good trick to go to the smaller cities, right?
Everybody goes to the major cities. I go to the outskirts. When the major cities fill up, everybody's just going to buy it. It's cheaper, right? Taxes are more affordable, insurance more affordable, and they're just going to commute to work. So that's always where I go. The big cities, I find the cities that you have to basically live there to know what city I just said. For instance, Deltona.
Yeah. And how often are these auctions?
Oh, it depends on where you live. Some places may have annual auctions. Some may have two a year. Some counties may have an auction every other week. Like Hillsborough County, Tampa, they may be every single Thursday or, or if, you know, volumes, if inventory is low, maybe every other Thursday, but it really just depends on like what state and what county you're going to.
Interesting. And do you know the address before you get there or is it random?
Oh, man, you can see the list two months before in most cases, sometimes like one month, sometimes even less. But you go ahead, you research these properties. You got to do your due diligence in real estate. And that's where a lot of real estate investors really like F up. They just buy and they think, OK, I'm buying real estate. It's all good.
Like you have to know, you know, what the value of it is. So you know how much to spend, how much rehab is going to be involved, how much money you're going to make. Right. What's the cash on cash return? Lean searches, title searches, right? There's so much more to the game that you might not hear everybody talk about on the daily. It's not the sexy stuff.
Not the sexy stuff, but a lot of people are losing. That's a fact. You see real estate investors on social media talking all the, oh, I'm doing this, I'm doing this. To be honest with you, most of them really aren't making money. Yeah, there's almost like a bad taste in people's mouth, right? From these real estate gurus. Oh, especially when you have a course.
Yeah. You got an uphill battle. That's why it was smart for you to pick this niche because I feel like the fix and flip got wrecked. A lot of those guys got burned. Definitely. Yeah, the BRRRR. Everybody's trying to BRRRR. Airbnb. Oh, my goodness. Started on Airbnb. Section 8 is a hot one right now, I see. I see it's coming up.
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