21) The American Dream, Where to Buy & Ghosting

Real Estate Investing with House Money

House Money Weekly

In this week’s House Money Weekly segment, your hosts discuss blog 121, where they discussed where to start real estate investing. Alan shared 3 answers on where you should start real estate investing today. Answer number 1 is to invest in where the numbers work, whether that’s where you live or not! Alan shared that regardless of whether it’s a short-term rental or long-term rental, you have to make sure your numbers work. It’s not advisable to buy a property that has negative cash flow. Answer number 2 is to invest to where you have a team. This answer was taught in our out-of-state investing course, if you plan to invest remotely on a short-term or long-term, you have to form a team who you trust. Answer number 3 is to invest to where you have a deal. Whether it’s down the street, the house next door, or 3,000 miles away, invest where you have a deal. Lauren also shared that you can build your team where you have a deal. Alan says you can even invest where you go for work a lot. Another way is to narrow it down to zip codes, which is often what Tom does. Wherever you invest, become an expert there.

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Mortgage Minute: Jasmine answers the question: Do you need to make more money before you get another mortgage?

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Real Estate Is Easy Interview

Lauren interviews Frugal Mogul on Twitter, a 38-year-old real estate investor just outside of Boston. He was born in Brazil and migrated to America. His real estate portfolio is 4 single-family rentals in Massachusetts and he also owns a primary home. Since he was born in Brazil, Lauren wanted to know if it is typical for people in Brazil to own a home and be landlords and he shared that it’s tough to get loans there to buy a property and become a landlord. Lauren asked Frugal Mogul if owning a home in America was his goal when he migrated and he answered that it was his dream. He shared that one of his problems was he is not good at handling money and thankfully his wife helped him with that. He shared about when he bought his primary home and how old he was that time (30), he also shared how he got his first rental property and what he did to finally buy a rental. December 2019, he finally got his first offer accepted! Frugal Mogul shared the process he went through for his 2nd property to his current one, which meant 4 properties in 3 years. Lauren asked him if he manages all 4 properties himself (he does). He had never been inside one of his properties for two years because he had a team he trusted. The Frugal Mogul shared some of his tenant issues on turnovers and he also shared his favorite part about real estate investing. He shares the importance of considering the BRRRR strategy. Frugal Mogul’s answer on how to make real estate easy is about not being handy and the hosts have the same experience as him.

Contact our Guest: https://twitter.com/realfrugalmogul

Teatime with Tom

Tom’s segment talks about ghosting, whether it’s on personal or on social media. The hosts share their own experiences of being ghosted in real estate, where they plan to meet up with a real estate agent or a showing of a property and there is no one to show up. Or contractors that no show. And even on social media there are situations where people ghost! Helpfully, the hosts shared ways to lessen being ghosted.

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