How to Buy Real Estate With No Cash Using a Private Lender | Darrel Donohew

I made him an offer that day, one hundred and seventy-five thousand dollars. I said, "Cash, as is, close in ten days. No, no worries." I immediately was like, I left there and I was, like, panicked, like, "I don't have the cash. [laughs] What am I going to do?" Called everyone I knew, and one of my buddies said, "Hey, I have this guy down in Little Rock," three hours away from, from Northwest Arkansas. And, uh, this gentleman got on the phone with me and he said, "Yeah, I'll give you the money." So he gave me a hundred and seventy-five thousand dollars to close on the house, and then I paid him back, I think one ninety-five, if I can remember right. But at the time, the house again was worth two sixty-five, two seventy-five. And it was immediate, oh my goodness, this is how this works.

Welcome to the Real Estate Pros Show, where we interview real estate investing professionals from coast to coast, as well as the service providers that serve the real estate investing industry. Our goal is simple, share what's working now to help you improve and scale your business to the next level and meet the pros that can help you get there. Real Estate Pros is powered by Investor Fuel, America's leader in helping real estate investors and professionals build the business you need to live the life you've always dreamed of. Let's start today's show. Welcome back to another episode of the Real Estate Pros Show. I'm your host, Isa Hanna, and today we have Darrell Donahue with us to share his knowledge. Darrell, welcome to the show.

Thank you, Isa. I appreciate you having me here today.

Super excited to have you, man. You bring a wealth of knowledge in different spaces in the real estate game. You started off as a realtor. Before we get into that, though, can you kind of give us a day-to-day in your world?

Yeah. Right now, day-to-day activities, uh, looks like prospecting for my agent business, so staying connected with my sphere of influence, texts, calls, emails. And then really my passion is the developments that I'm working on, so, uh, continuing to push those things forward through the city, uh, with engineering, uh, continuing to build those out. Um, I have two small format developments I'm working on and really just trying to get those, uh, moving ahead every single day. Yeah.

That, man, and yeah, we were talking earlier. Uh, I have a past as an agent. I'm still a licensed agent. You are, too. You're on that natural progression that we all kind of take, right? We start off w- with the clients, and we're like, "Hold on, I can do this on my own and start a whole different business." So eight years as an agent. I wanna get the origin story first. What made you decide to get into the business?

Yeah, that's a, that's actually a really good question. For me, growing up as a kid, my father, I remember, always said real estate, the American dream, everyone should buy it and own a home. And so real estate's kind of been stuck in my head from, from the beginning. But I joined the military outside of high school, and I came back, went to college. As I started studying hospitality, I realized very quickly working and studying hospitality, I didn't really need to study