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.
Don’t kill the golden goose I was talking with an investor the other day who had just received some really great news. His portfolio of rental properties had an equity value of over $1 million. I asked him how he found this out, and he told me he’d been working with a financial advisor who had challenged him to find fair market values for each piece of property he…
Cool it, buster When you own rental property, there are a lot of expenses you should plan for. Most people understand making payments on their mortgage and property taxes monthly, but there are sporadic expenses you should be saving for monthly as well. They include things like vacancy and repairs. The savings we set aside for paying these costs is something we call a rental’s “expense factor.” We…
I almost missed it It was about 10:30 on Saturday night. We had just put the kids down, and Ashley and I were preparing for bed. At this point, my beautiful bride was considered full term in her pregnancy at 38 weeks. She lay down in the bed only to pop right back up with a startled look on her face as she said, “Whoa! I just had a…
Here’s what we’re seeing right now Who would have predicted that a virus could’ve had this much of an impact on us? I didn’t see it coming. So, what are we seeing right now? April was good as far as rentals go. We are at about 90% on our collection rate. What I wrote to you about talking to our tenants and being proactive really proved to…
Why do your renters need insurance? I’ll never forget the story of my mother-in-law’s best friend. She was up in Ringgold when that tornado hit in 2011. She lived in a single-story apartment complex with easy access to town and the interstate. This was fantastic for her because she got lots of convenience without having to worry with any home or yard maintenance. She was on the phone…
Fear and proactivity I think that you will agree with that me that there’s a lot of uncertainty going on right now. And people do some strange things when they get scared. If you don’t believe me, go check out the toilet paper aisle at the grocery store. Now, I’ve had to make a run, or perhaps more of a waddle, for toilet paper before. But I’ve never seen…
How can we structure this deal? In the summer of 2010, I was blessed to have a sure-enough successful husband-and-wife real estate investor team take Ashley and me under their wings. They have a passion for giving and enjoyed teaching aspiring and established investors alike on how to creatively structure deals. Without them, Ashley and I wouldn’t be where we are. That passion lives on today as they travel…
Application with push-button capability We’re about to see some things change dramatically in the way we market our rentals. Our normal procedure has been to go take pictures and videos of a property, upload them to Zillow’s Rent Manager and then use that link to post the property all over Facebook. We still put signs in the yards, but most of our calls come from online sources these days….
Risk versus reward I had a really good opportunity for a private money lender, recently. I emailed the information to everyone I thought would be interested. The deal was to loan money to us at 6% interest only. I noted in the email that 6% was three times what the, and I quote, “high yield” CDs and bonds being are offered for in 2020, according to bankrate.com. The…