Financial Freedom, One House at a Time
Issue the pay or quit
Issue the pay or quit Do you know what the first step should be for you as a landlord if you did not receive payment from your tenant this month? The answer is: issue the pay or quit letter. Landlords in our area typically have their residential leases set up so rent is due on the first and late after the fifth of each month. Our leases are not that way. In our contracts, rent is due on the...
Issue the pay or quit
Issue the pay or quit Do you know what the first step should be for you as a landlord if you did not receive payment from your tenant this month? The answer is: issue the pay or quit letter. Landlords in our area typically have their residential leases set up so rent...
Working with your hands pays
Are you handy? Do you have construction skills? If you do, that’s great. But just because you do, does that mean you should work on your rentals yourself? For me, the answer to that question is ‘yes’ … most of the time. Now that may come to you as a shock, especially...
The best way to maintain your assets
The best way to maintain your assets Let me ask you a question. Is a rental house an asset, or a liability? I ask this question a lot and most of the time people say a rental house is an asset. When I ask them why, they kind of shrug and say that they...
Trailer differences I’ve had a lot of calls this week about mobile homes. Mostly, the conversations centered around the differences between trailers and stick-built homes in rehabs. So, I’d like to highlight a few of the major differences you need to be aware...
Why you need a bill of sale at closing
Why you need a bill of sale at closing We recently bought a land home deal, which is a mobile home being sold with land. We call it a land home deal because you can buy just the trailer and not the land. This takes place in a mobile community or somewhere else...
Do it wrong, do it long
Do it wrong, do it long When I was in middle and high school, I was on the football team. Notice how I intentionally phrased that statement. Let me explain. When I was in middle school, we lived in a little town in Madison County called Hull on the...
Real Estate Investing
Fat deals looking slim
Fat deals looking slim Being able to track your rehab numbers is a crucial skill as a real estate investor. The reason for this is if you don’t know how much it will cost to fix the house, you can’t make an accurate offer. To show you what I mean by...
Should you do it yourself?
Should you do it yourself? This week I got a call from my lead man Charles. He was changing out the galvanized plumbing under a flip house because the water pressure had become very reduced due to the buildup of corrosion in the pipes. All was looking good...
They are making a lot of noise, but they aren’t going anywhere
They are making a lot of noise, but they aren’t going anywhere I recently had a pretty cool wealth analogy fall in my lap that I would like to share with you. It happened while I was out for a long run with my buddy Cody Johns. And when I say long, it was 10...
What’s The Deal episode “The Gut Job”
The Gut Job In this episode Joey and Ashley walk you through a rehab that is an entire Gut Job. Was it worth it? You'll have to wait and see. https://youtu.be/IIdtDyQcxek
What’s the Deal episode “The Odd One.”
The Odd One On this episode of What's The Deal, Joey and Ashley show you how to acquire a rental property via owner financing and then compare and contrast the rehab differences in a rental verses a flip project. https://youtu.be/i5m-ELeyWRY
What’s the Deal Episode “The Big Stink”
The Big Stink On this episode of What's the Deal, Joey and Ashley tackle a huge rehab on mobile home they plan to flip. Did they get in over their heads? You will have to watch and see. https://youtu.be/2FDHCvB2J8M