Lisa Phillips
0048 How To Invest If You Don’t Make A Lot Of Money
A lot of people have dreams of making it in real estate, but their reality and job doesnt lead them to think they’ll ever get to their goals. I just want to share a couple of stories with the audience of a couple of people I’ve met or read from, and even got inspiration from, that were in positions where
0047 Audience Question: How Much Cashflow Makes A Property Worth Investing In?
This was an audience question submitted by JoanP, and thank you very much! Cashflow is an important part of real estate investing, because when you are earning more than what your monthly costs are, now you’re in business. Monthly cash flow is the amount of net cash left over after covering mortgage, repairs, taxes, insurance, etc. The carrying cost for
0046 What To Do Once You Pay Off Your First Mortgage
Hi! The choice of what to do when if you have any positive cash flow (cash flow being the profit you make monthly/annually after accounting mortgage, taxes, repair expenses), and whether to keep that money in your pocket or pay off your mortgage early is a personal decision. For some, the choice can be to keep the money, and to
Book Review 3: Possum Living By Dolly Freed
Here is a book review that helped to spark my creativity when it comes to purchasing houses under $30,000, and it has been very financially rewarding decision. This isn’t your standard real estate or finance book, but its an outside the box thinking of how you can live comfortably with little or no money. This book is different and not
0045 Sacrifices You Should Make To Become A Real Estate Investor
This episodes focuses on some aspects of your lifestyle that you will need to modify in order to become successful in real estate. Actually, its what I recommend doing before you even start real estate investing. Unless you’re born with a silver spoon in your mouth, there needs to be a change in how often you go out with your
0044 Built In Property Tax Protection For Your Real Estate Investment
This post goes over the important of always watching property taxes, and how the the coming economic trends are showing that property taxes will definitely be raised to make up for shortfalls in city and state budgets due to ever declining tax revenues. However, investing in houses under $30,000 has built in protections naturally to protect you against those swings
0043 Audience Question Long Distance Maintenance And Snow Removal
This is an audience question submitted by Joan P, on how to deal with maintenance issues when your long distance like snow removal. I understand where she is coming from, and I am sure that you in the audience have the same questions, and a little bit of fear and uncertainty around the edges when it comes to these responsibilities.
0042 Some Markets You Just Cant Afford
Real estate is 100% about the numbers, and it is secondly about property and location. You can have the best house in the world, in a great location, but if the house is worth more than the market can sustain or bear, you are looking at a failing investment. Because of this, I am going to explain how this needs
0040 Audience Question: Whats The Closing Process Like
Here is another audience question. This is an overview of the common patterns I see in closing. Depending on if your extremely new or experienced, this may be a lot more helpful to people who are new to real estate investing, but maybe some commonality can be shared amongst experienced investors.
0041 Excuses To Be Aware Of: Why The Rent Is Late
I have heard many reasons of why the rent is late. If you’re going to get into real estate investing for rental income, welcome to the club! Seriously, everyone is different, but if hearing some of my experience rings a bell, or helps you in your real estate investing, then I will share all I have heard from previous tenants