SHOW NOTES FOR EPISODE 080 – SHOULD YOU PAY FOR A MENTOR? Mentors are a critical element of real estate investing success. In this episode, Bill discusses mentors and examines the question of whether or not it’s worth it to pay for a mentor. We have discussed quite a bit about mentors in the last few months because I believe it’s an important requirement for real estate investing success. In episode #006, on…
Oh, that’s an easy one. I can answer that in one word. FEAR. Real estate investment is a great way to change just about everything in your life, but it’s one of those things where doing it for the FIRST time is the toughest. In fact, the second is exponentially easier! It’s fear folks, plain and simple! And why doesn’t that make much sense to me? Consider that: “Everyone knows that the…
SHOW NOTES FOR EPISODE 079 – BUY & HOLD INVESTING AND AVOIDING SHINY OBJECTS As a new couple, Brie Schmidt and her husband were looking for a creative way to buy their first house in high-priced Chicago. Buying a triplex, living in one unit and renting out the other two seemed like a good solution. Little did they know it would evolve into a full-fledged real estate investing business with over 30…
SHOW NOTES FOR EPISODE 078 – HOW TO BUY APARTMENTS THAT AREN’T FOR SALE Finding good apartment deals is getting increasingly difficult as more people are scanning the horizon for those “diamonds in the rough.” In this episode, Bill Manassero presents a helpful tip for investors on how to find apartments that no one else knows about. Introduction The good news is: this is a great time to buy apartment buildings. The bad news is: everyone knows…
Why should you consider refinancing real estate investments instead of selling them? Maybe you’ve owned a rental property for years, you’ve paid down the mortgage, the value is up, and you want to cash in on that equity. You will do better to refinance. Here’s why. There are two problems with selling. First, selling means paying a large capital gains tax. You can avoid this if you reinvest through a 1031 exchange,…
SHOW NOTES FOR EPISODE 077 – FUNDING YOUR FIRST BIG REAL ESTATE DEAL When you acquire a larger property that is priced beyond your cash-on-hand, you need to find the money to cover the down payment, closing costs, and repairs/rehab expenses. You also need to have someone sign on the loan with a net worth more than the property. Where do you go to find that kind of money and a person…
SHOW NOTES FOR EPISODE 076 – 1000X2020 GOAL UPDATE In this episode, Bill shares an update on his personal goal to acquire 1,000 units by the year 2020. He also outlines his real estate activities in the last few months and lessons learned. For those of you who have listened for a while, you know my goal has been and continues to be “to purchase/acquire 1000 units (or doors) by the end…
The real estate purchase agreement is more than just a casual offer. The moment you and the seller sign it, it is a legally binding contract. Since you can put what you want in your offer, why not include some of the clauses that smart buyers use to protect themselves and save money? Some suggestions follow. Seven Critical Purchase Agreement Clauses 1. A better earnest money clause. You can put a small…
SHOW NOTES FOR EPISODE 075 – FINDING A SPONSOR FOR YOUR DEALS WITH JOE FAIRLESS As you grow your real estate portfolio and get into bigger and bigger deals, finding a sponsor may be a necessary requirement to get funded, especially if you don’t have the required net worth and liquidity to meet lender qualifications. In this episode, Joe Fairless, the host of The Best Real Estate Investing Advice Ever podcast, discusses…
SHOW NOTES FOR EPISODE 074 – HIRING THE RIGHT PROPERTY MANAGER FOR YOUR RENTAL PROPERTY Landlording is much easier when you have a good property manager, and we’ve provided you with all the things you’ll need to ask managers to make sure they are right for you. In this episode, Bill outlines 12 key areas to use in evaluating a potential property manager for your rental property. I’m often asked what to…