Tue, 25 November 2014
Sometimes life changes, and you need to move. This is what happened to Nicole Ratner, she bought a condo that worked great when she was single, but when she got married the condo didn't work so great anymore.
On this episode, Nicole talks about the good luck that she had with having a long-term tenant, and the bad luck she had finding out that the property had toxic mold, after the tenant moved out.
Favorite Real Estate Book:
Tue, 18 November 2014
Q&A show. I ask listener questions to Steve Elliff, a successful rental property owner.
Tue, 11 November 2014
It is possible to buy houses for as little as $400, just ask David Sexauer He got his start buying properties from The Surplus list, where properties are sold for as little as $1. His first batch of homes he paid $400 for each one. Most of there properties are in rough neighborhoods, and in very poor condition. But, David is able to fix these houses up, for $10,000 or less and make a big social impact in neighborhoods by providing affordable housing.
Key To Dealing With Tenants:
David has had a lot of problems with tenants, and with bad things happening to his properties. He overcame this by working with local people that have a personal connection with the tenants and the community. This is a real win-win. It provides jobs in the neighborhood for the managers, good low-income for the residents, and less hassle for the owner.
What David Looks For In A Good Deal:
How much cash he has available?
What is the interest rate?
What is the return?
He looks for a 2% monthly return (Pays $50,000 expects to make $1,000 a month)
Favorite Real Estate or Business Book:
E-Myth by Michael Gerber
Advice For New Landlords:
Stay engaged. Know wh
Tue, 4 November 2014
Every real estate investing story doesn't have a good ending. Jim Adams is proof of that. Jim built an empire overnight. He found an estate sale that included 70 rentals for his first purchase. He than purchased another 30 properties on his own.
In a short period of time, he built an empire of 100 houses, and had a staff of 20 people. When the market crashed, Jim lost all of his rentals, plus his personal house, and his cars.
A lot of people would find it difficult to move on after a loss this big. But, not Jim Adams! Today, Jim has re-built his life and is doing great. On this episode, Jim shares what he would do differently today, and shares how he has moved on with his life.
What he would do differently:
He would buy houses subject to
Favorite Real Estate Book