Maximizing Your Business Potential with SBA Loans: Insights from Beau Eckstein

We interviewed Beau Eckstein, a seasoned real estate professional with over 20 years of experience, a California real estate broker, about his experiences in the real estate industry. Beau is involved in various aspects of real estates, such as mortgages, commercial lending, real estate investing, and running a real estate investor association and a podcast. He shares some of the craziest transactions he's had in his career as a real estate agent, including finding people sleeping in the homes he was showing and facing dangerous situations. He also discusses the challenges of real estate in coastal markets like California, where many flippers are being hurt by overleveraging. He mentions that his lending practice offers a wide range of loans, including short-term rental loans and loans for house hacks.
As a marketer as well, Beau, believes that his number one marketing tool is YouTube. He creates videos by answering specific questions that he knows are being asked, keyword optimizing them for YouTube search, and appearing in search results. He has a podcast Q&A session where people can ask questions, which then become live videos. It took him a lot of effort into his YouTube strategy and around 100 episodes to start getting traction. He now has two full-time video editors and is hiring a third, as he knows that the ROI will be three to four times the cost of that virtual team member. He emphasizes the importance of being genuine and helpful to people on YouTube for success.
Beau also delves into the Small Business Administration (SBA) loan programs. These loans can be used for various business purposes, such as acquisitions, startups, expansions, and building a business property. To qualify for an SBA loan, an individual must have good credit, no felonies, and an equity injection or reserves. The necessary documentation includes tax returns, business debt schedules, and personal financial statements. The interest rates for these loans are based on the Wall Street Journal prime rate and typically range from 9% with a 2-2.75% margin. Real estate agents and investors can benefit from SBA loans by financing acquisitions of property management businesses, real estate brokerage buildings, franchises, and self-storage facilities. In commercial settings, the seller may carry back the down payment, allowing the buyer to come in with zero financing.
Beau believes that having the right team is crucial for success in the real estate industry. He is investing in himself and has hired a coach to help him improve. He is working on creating digital real estate, specifically two microblogging sites, one about SBA lending and the other about short-term rental financing. His goal for 2023 is to drive traffic to these sites and share knowledge about these respective topics. He wants to focus on what he enjoys, which is marketing and helping others be creative and drive revenue.

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Don’t Forget To Reach Out to Beau Eckstein
IG https://www.instagram.com/tv/CQNIgiCjK55/
Twitter https://twitter.com/BeauEckstein @BeauEckstein
Linkedin https://www.linkedin.com/in/beaueckstein/

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