4. Financing Your Rehab
0055 Ask Your Bank Questions, BEFORE You Start Doing Business With Them
This is a video that explains how you can assert a little more control over your credit, and obtaining financing from banks or credit unions, by asking a few pertinent questions. Many of these questions may seem obvious, but people don’t tend to ask and it does have an effect on what financing offers will be available to you. Be
0053 How I Purchased 4 Rental Properties, All Under $35,000
A common question I get asked if how did I purchase my rental properties, all which were under 30k, and making more than $900 in rents each month. This was through 4 different products/financing instruments: 1) Conventional Mortgage 2) Depleting my 401k 3) Titling My Car 4) Personal Loan From the Credit Union. These aren’t really “normal,” but at my
0050 Don’t Purchase On Court House Steps!!
Don’t purchase on court house steps. I will caveat this and say UNLESS you can clearly see inside every window, in every room, and you have a LOT of experience in real estate investing, or you have a home inspector with you. If you are new to real estate investing, the amount of time, effort, and cash on hand you
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
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
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.
0034 Use Credit Cautiously
I am a big advocate of using credit in different capacities, either a credit card, balance transfers, lines of credit, etc. This is because it is easier to obtain, its unsecured (thus not putting your investment at risk of repossession, and private. However, it would be remiss of me to not caveat this use of credit with some advice on
0024 Estimating Rehab and Repair Costs – Newbie Perspective Vs Reality
Job Site Order Form- Right Click Link and Choose “Save Link As” Hi, Here is the first of many vlog entries regarding estimating the cost to repairs and rehabs. First, understand this: You cannot completely, EVER, estimate the accurate costs of a rehab to your rental property. You only see the top layer, and even with a home inspection, doesn’t
0017 Stay Away From The Banks Pt 2 – More “Proof”
You know my stance at this time regarding banks versus other sources of money. Here, I just have real life examples of why its not even worth going to banks, and you should always consider alternate sources of funding. TL;DR: 2 banks either turned me down, or gave me a huge application, where I was able to walk into a
0016 Mortgage Loans – Add Back In Depreciation
Here are some concepts to keep in mind that has major tax consequences, as well as major consequences for obtaining mortgage loans for your investment properties. Make sure when looking at your adjusted gross income, that the underwriters add back in depreciation for your total income allotment. As a real estate investor, one of the benefits is the huge tax