Chris wanted his first rental property before the age of 25. His ideal is to start now and retire in 10 years. After looking at some of the youtube videos on Affordable Real Estate Investments, he decided he wanted to take the leap.
For the purposes of this engagement, Chris and AffordableREI Sub30k Coaching focused on 4 system FLRT method:
- new investors struggle with trying to get a comprehensive, step by step system to investing large sums of money
- new investors need to understand how to choose a market and invest out of state
- trying to piece together a bunch of news articles and free information is too overwhelming and disjointed to feel comfortable proceeding with
- 70% of low price properties are crap, and learning how to find the 30% that are gold mines can cost a lot of money in trial and error.
- Estimating accurate repair costs and rents is too challenging but are crucial to creating passive income
Chris Partnered With AffordableREI Sub30k Coaching To Create Passive Income At A Crucial Time. Click Here To See If This Is Right For Your Business!
Chris knew it would be a challenge to find a property he would feel comfortable owning at this lower price range, and from all the chatter on the forums, he knew the inventory was leaving fast! Chris partnered with the Sub30k Coaching Program in September 2016 to do this quickly and effectively through the coaching program.
The engagement consisted of 4 parts:
- Assessing Financing And Funding Sources To Leverage based off Chris’ unique personal finance Situation
- Finding The Right Market and Location, in order to find the best cash flowing properties
- Determining the right property that will maximize the passive aspects and the cash flowing aspects ($400+)
- Estimating renovation costs and supervising contractors and on the ground team.
- Getting Chris to have the right tenant protection and expectations for stress free management of the rental property
Assessing Personal Finance and Funding Sources
Assessing personal finances and funding sources is the first step that every client goes through within Sub30k Coaching. After some research on what assets individuals can leverage (that they didn’t even know WAS an asset), a run through of a checklist to ensure they covered all assets is completed. This can include examining what equity they may have available, credit accessibility, and cash/savings other liquid assets on hand.
Finding The Right Market, Either locally or out of state
After determining the financial assets that will be leveraged for their investment property, we researched the areas in which Chris would be able to quickly and efficiently purchase the most stable of neighborhoods at the lowest prices. We did not focus on well known Sub30k markets as that is where Chris’s competition is and we wanted him to be able to have the pick of top 30% of homes in the under $40,000 price range. For Chris, we found a few markets that worked, and settled on one that was 45 minutes from his home.
An analysis of economic and geographic indicators, as well as potential for vacancies and economic shifts in the market to best position our long term rental property investment. Also, a systematic and proprietary methodology for locating the best investment property is utilized to find these hidden markets within minutes.
Selecting The Right Property To Maximize Cash Flow And Passive Activity
The next step was to carefully select, from all available property and inventory, the property with the most potential for return on cash investment. As a house purchase under $30,000, there are very specific criteria we need to use. We need to look at available rents, stability of the area, house condition, how long it’s been on the market, and other strategic areas to efficiently choose the best investment property.
Estimating repair costs, supervising contractors, and establishing a ground team
With the help of the coaching platform, a very strategic outreach to key real estate agents, property managers, and contractors was conducted to ensure we were not only talking their language, but that we got the results we were looking for in our processes.
Tenant Selection And Vetting
For Chris’ particular situation, both homes had tenants already established. By going through a checklist of tasks as advised by legal counsel, we vetted the current tenants for a variety of factors to determine if we wanted to purchase the property with the tenant installed or start the process of authorizing a notice to vacate with the seller.
Chris Submitted And Won Two Bids For A Projected $800 In Monthly Cash Flow Within 8 weeks. If This Is Right For Your Business, Click Here To Find Out Now!
Chris’ investment model was so successful it lead to two successful bids of two rental properties, tenants in place, and an estimated conversavative cash flow of $800 a month on top of expenses. Both properties were in rental ready condition, lessening the amount of out of pocket expenses Chris would have to incur for his passive income investment. he estimates that these homes will belong to him for at least 10 years, bringing in ~16,000 a year in income and more than 192,000 in income over 10 years!
Based on the average yearly revenue, Chris is expecting at least a 540% return on his investment (ROI) with AffordableREI Sub30k Coaching.
I was on YouTube and I came across one of Lisa’s videos, and from there I was like “Oh, what she is saying makes a lot of sense.” So I called you and scheduled a 45min session at first.
I’m glad that I got a mentor because there are a lot of mistakes that I would have made that you caught. I would say that it is vet)/ important to get a mentor
The great thing about Lisa is that she doesn’t take a lot of risks, she does her best to play it safe… Everything in her program tackles ‘what do you do in this stage’
This program is probably one of the best decisions I’ve made in my life because the things that you are teaching – it’s a lifetime system! This is really amazing and I can’t thank you enough!
All These In Only Two Months? Click Here To Find Out Now!
The exciting part of Chris’ story, is that it only took two months to generate just a couple of low priced properties that will continue to bring in revenue for years to come. This is not always the case, as it does varies based on the cost of the property and maintenance.
In Chris’ case, his monthly income will be quick and immediate. Because he thoroughly vetted his tenant, he was secure with the knowledge that this will be a headache free investment in a neighborhood and market he felt very comfortable with (only 45 minutes from where he lives).
Make Sure You Get The Best Value For Your Investment Strategy.
Deciding on a market is a crucial part of every Sub30k passive investment strategy. If you are listening to traditional, cookie cutter advice – you may never invest in real estate. The advice to stay local (cost prohibitive in certain places), to buy in “A” neighborhoods (again, this can be extremely expensive costing 100s of thousands of dollars), and to not invest for passive income for investment can have you with a very expensive property and high level of responsibility with very little monetary reward until 20 years down the road (if that).
Thus, the SUb30k coaching strategy focuses on a market that meets your budget, finding a market the fits your investment strategy, and finding a property that meets your investments goals. In other words, you need a strategy that is tailored to you so you can get started now, and take as little as 8-16 weeks to accomplish.
If This Sounds Like It Makes Sense For Your Business, We’d Love To Schedule A Call And Explore What Kind Of Approach And Campaign Would Generate The Best Results For You. Click Here To Get In Touch Now!