5) Toilet Nightmares & Credit Cards to help with Real Estate Investing

Real Estate Investing with House Money

Real Estate Is Easy Interview

Shemsi Shala is Lauren’s personal plumber from the Tampa Bay area. He has over 17 years of experience and his business, which is 4 years old, has over 500 reviews. The two start the interview by talking about different kinds of pipes, and the costs for replacing them. How can you avoid big costs? He suggests having someone scope the line in addition to a home inspection when purchasing. And of course, they had to talk about the 2 am toilets. Lauren’s favorite part of the interview is that Shemsi calls his employees and his clients “partners,” and he talks about the importance of communication. The most important part of the interview, though, is that everyone should know where the main shut off is to their property. Shemsi gives advice for when there’s an issue as well: 1) turn the water off and 2) have a relationship with a public adjuster. Shemsi makes real estate easy by doing preventive maintenance. Tom’s additional advice: put a sign up that tells tenants and guests not to flush even “flushable” wipes.

How to contact Shemsi: https://www.facebook.com/dndplumbing/

Mortgage Minute: Jasmine answers the question: what does it mean when my lender sells my mortgage?

House Money Weekly

This week, your hosts talk about a Real Estate Investor Starter Kit. New investors get overwhelmed with the many options. Rule #1: pick one strategy (at least at first). Lauren reminds everyone that there are MANY options, so a narrow strategy means you’re more likely to take action. Number 2, Alan suggests practicing borrowing someone else’s money by using credit cards. Bonus: you’re building up your credit score and rewards. Tom is great at using his rewards. Number 3, hang out with other real estate investors. Your hosts have had varying levels of mentorship over time.

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Sponsored by: Jasmine Mortgage Team https://www.jasminemortgageteam.com/

Teatime with Tom

Tom had his very first short-term rental guests this past weekend. But why is he getting pop up after pop up after pop up soliciting him? Is Vrbo selling Tom’s info? Lauren does NOT remember this happening. Alan outsourced everything. Bonus: Alan spills some House Money Media tea. Tom then goes into more detail about his first guest, which was actually filming in his place. They wanted access to his basement to film a true crime documentary! Tom points out that Lauren’s short-term rental course will be ready soon.

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Lauren:

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Alan:

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