Tag: investment how to
0054 Plumbing: DIY or Contract It Out?
Here is more in the series that can save you time and money. When it comes to plumbing, Ive found that there are many smaller items you can do yourself, and save yourself some money, and learn something in the process. However, I also go over where you should hire a contractor. This is part of the Cutting Costs category
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
0052 Audience Question: Do I Create An LLC Before or After I Purchase My Rental?
This audience question is submitted by Joan P. Thank you, Joan! Her question was do you create your LLC before or after you purchase your rental property. If you are going to go the LLC route (and I discuss reasons why some people have rightly chosen not to), then you need to create the LLC beforehand. This is make sure
0051 Mentor/Mentee Investor Success Story!!
Here is Mike Kim, who I mentored through his first real estate investment deal. When Mike heard that I purchased real estate investment property under 30k, he was intrigued and interested in hearing more. Back then, we were co-workers just discussing investing. With his interest peaked, we both went and searched for investment properties, and we both purchased at the
0049 Section 8 Renters Are Now In The Surburbs
Despite what people think about the neighborhoods that I invest in, with finding investment properties under $30k, the truth is that the thought of “Section 8” renters and what that comes with just isn’t the case. I put “section 8 ” in quotes because its a loaded term and I don’t agree with how everyone uses it to judge a
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
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.