We are talking about https://www.zillow.com/homedetails/12230-Freeman-Ave-Hawthorne-CA-90250/20350703_zpid/ if you are on a computer! Listen into this week's episode to find out... How to think about a deal and determine if it might be a good fit? How can you figure out what market is rent for a neighborhood/property? How can I think about appreciation potential for a property? How to find a good realtor that will help you get your deal? Do I need to buy land? Are condo's and apartments OK?...
Feb 14, 2021•23 min
We continue our conversation with Hernandez about moving closer on buying his first house hack. Listen in for answers to questions like... I want to start shopping for a house? How do I get a bank to give me the money? How long does my bank approval last? What do I do if it expires?! Won't shopping for a mortgage hurt my credit score? How much should I get pre-approved for? What if I am pre-approved for $500k but make an offer for $300k? Won't the seller counter with a higher price once they see...
Feb 07, 2021•23 min
This week's episode is one of a multi-part series with Hernandez who is trying to figure out how to make his next house choice be one that helps him achieve financial freedom. Stay tuned for answers to ... How can I house hack in a high cost of living (HCOL) area? What is one great strategy to build wealth in a HCOL area? How can you be an AirBnb host legally when AirBnb might not be allowed in your neighborhood?
Feb 01, 2021•20 min
Sage advice from Tonio Angotti on our new segment FIX IT or FORGET IT and some good guidance on REIA meetings from Tony, who runs a REIA!
Jan 10, 2021•24 min
Are you being efficient in your offer process? Learn how to be with some advice from Obi-wan Angotti Let us know if you like the new Stay or Go segments or if you miss Florida tenant.
Jan 03, 2021•16 min
Listen in for a breakdown of what a triple net lease is When you would be looking for a triple net and why Some detail on a 1031 tax exchange
Dec 27, 2020•19 min
Audio issues are fixed! Thanks listeneres Florida tenant asks - I fell asleep on the toilet, can you call the fire department? When managing your out of state rehabs -- relationships with agents and having someone you trust that can do your walkthroughs is a must!
Dec 19, 2020•10 min
Tony asks good questions you should use for your own deal
Dec 13, 2020•21 min
Should you tell a prospective tenant about what you found that led to their rejection?
Dec 06, 2020•15 min
included in this episode: Groundbreaking life lessons from BE FREE RE to change your life REMINDER: it is not your job to solve all your tenant's problems Florida tenant asks, what packing services are included in this lease package?
Nov 22, 2020•16 min
This episode is brought to you by supportive spouses. You can be one or find one, or both. Supportive spouses. Florida tenant asks, bugs or trash. I choose both. Hear TONY and only TONY answer your question about what to do if a tenant tries to move out, right after they move in.
Nov 15, 2020•24 min
Florida tenant asks if you have any deals to save money on chicken overpopulation What can I do about emotional support animals?
Nov 08, 2020•15 min
Florida Tenants says "Oh yeah I forgot to say I moved out. But don't worry I left my cat to keep watch over the place" In this week's episode, Tony has some ideas for how you can advertise and make better use of your office space during these strange COVID times.
Nov 01, 2020•18 min
Florida tenant asks, can I hang in with my wife while you fix things? Rates are low and prices are high. Is it really even possible to find one of those "good dealz" (Tony term) to get started in real estate? Can I get a crazy good one like I hear about online?
Oct 25, 2020•30 min
Florida Tenant Says: Don't worry if the heater is out. I have this toaster and my magazines to keep me warm. This weeks caller Wale from NY asks: how do I restore my rental property to be marketable after a fire For next time: require your tenants to have rental insurance! In your lease, you should have a provision for damage due to fire being the tenant's responsibility There are disaster restoration specialist companies that can help, but they are expensive. ServPro is an example of one (we ar...
Oct 11, 2020•19 min
Florida Tenant says: If I ask you come into my house in the middle of the night for no good reason, expect the unexpected! Today's caller is Guisseppe who asks about his current portfolio that is "small" and at 67% LTV. What is the best way to get to get it from 10 to 100? Tony says: larger unit count deals are a fast way to grow your portfolio. Tony thinks you need more equity to consider a refinance (he likes 50%). At most you'll get 80% LTV. Partnerships/private debt. The best debt you'll fin...
Oct 04, 2020•24 min
Florida tenant asks: Can you come over to kill the spider in my rental? Quotes and notes from this episode: Being over accommodating is NOT the trend you want to set as a landlord. Even if your tenant is in jail, you need to serve them 24-hour notice before entering the property. When closing a property, prioritize the tasks for the government (for example, die tests) so they don't delay your closing! Keep contact info for both prospective tenants that you like but couldn't place in a unit for w...
Sep 27, 2020•10 min
Edwin writes in about a foreclosure that has plumbing and pest issues. Tony shares some advice, both for laughs and for real. In other news: The mortgage refinance fee mentioned is on HOLD! Be sure to ask your mortgage broker if they will pay for some all or some of it! The national stay on evictions is NOT yet passed as of this writing. If you find a good deal, close it! A bird in the hand is better than 2 in the bush. We introduce a new segment called Florida tenant, inspired by stories ...
Sep 13, 2020•14 min
This week we break from the normal format to walk through a deal of Tony's that will be published in the upcoming BiggerPockets book. When does doing the work yourself not make sense? Viewing a property for what it is today vs having a vision for what it could be How good is this deal? BONUS TRICK: How to save money on multifamily ceilings.
Sep 06, 2020•18 min
In this weeks' episode... Are considering a commercial loan? Wondering about buying a bigger deal? Chris is thinking about buying 3 APTs with a storefront underneath and is wondering what he should know beforehand. Where is the best place to market rentals? Zillow is planning to charge monthly/weekly for rentals. Taylor wants to know what he can do. We have a bunch of options for you to use and get good quality tenants from....
Aug 24, 2020•31 min
House Hacking by the Room? Let's talk about it. You can make more money by renting out by the room, but with everything real estate ... there is risk and reward. Some advice from both John and Tony who have been in the trenches of house hacks both as landlords and tenants.
Aug 09, 2020•23 min
What do you wish you knew before you started house hacking, asks Mustafa? We also dip into the mailbag to discuss the legalities of raising rent by 8% two years in a row! What to do if this is happening to you as a tenant. How to do something like this if you are a landlord. Tony discusses how he transitioned a good deal into a great one by finding an opportunity for seller financing John shares his love for cabinet jacks to make kitchen remodels easier
Aug 03, 2020•22 min
LEASE OPTION This isn't our specialty, we haven't done it Lease option is providing a lease with an option to purchase (during or at end of contract). You need an attorney to help write these contracts. (From John) https://www.coachcarson.com/tag/lease-option/ has a bunch of good info for you OFF MARKET DEALS WHAT IS YOUR GOAL? Make sure your off-marketing strategy fits your acquisition strategy DONT SCALE FAILURE - Low scale is always best (handwritten notes and driving for dollars)...
Jul 26, 2020•36 min
SCALING YOUR BUSINESS MAKE A PLAYBOOK - Make sure you are building systems/processes and documenting them DREAM IT - Pretend to be only available by phone. This will help you think in a company building mindset MORE INFO - The book E-Myth by Michael Gerber outlines a lot of what we say SHOULD MY REALTOR BE MY PROPERTY MANAGER Are they experienced? Even personally as self-managing properties? Be sure the roles are clearly delineated. Pay them by the task to dip your toes into the water. It ...
Jul 19, 2020•45 min
How is COVID Impacting? Tony has had help tenants apply for unemployment and get assistance We'll see when forbearance periods hit if the market adjusts. For now, still a seller's market. John is interested to see what will happen in student rental markets Recommendations on Washers and Dryers Tony says don't own your W/D For 3+ Units, Tony says use a coin-op firm and split the gross For 2- Units, Tony says have the tenant own for liability purposes John likes topload Was...
Jul 12, 2020•27 min
WHERE CAN I BRRRR? C class neighborhoods with good comps Wherever you can find deals Hint: you ain't finding BRRRRs on the MLS Hint: your realtor probably is gonna get you (m)any BRRRR deals in this market I HAVE 40 UNITS AND 17k CASH FLOW, WHAT TO DO NOW? Simplify, decomplexify Tony would sell half and sleep well without having any debt John would consolidate into a single ~30 unit apartment complex...
Jul 06, 2020•45 min
What does it mean to spam your portfolio? Not sure over here either. Let us know if you have an idea though. WHERE TO GET/CREATE LEASE TEMPLATES? Make sure you get someone local to your market A local community college class is a good option A local real-estate attorney may have a package of documents you can buy too
Jun 28, 2020•32 min
DIY If you might create fire, electrocute yourself, handle sewage, or be on your roof (or up high in general); consider a pro If working freshwater, make sure your main shutoff valve works first Find SOMEONE who has done this before, YouTube will only take you so far But the best way to learn is to do it yourself CONTRACTORS INCENTIVES/PENALTIES - Focus on the contract before hiring the contractor Ease your contractor into work with a small job...
Jun 15, 2020•39 min
DO I NEED MY REAL ESTATE LICENSE? What is your time worth? Are you going to use your license as an agent? Are you making an excuse to not get started to invest in real estate? 1% DEALS If there are flippers doing deals in your market, there are deals in your market Do something other people won't. Be outside the metro, get off-market deals, do work yourself, etc.
Jun 08, 2020•32 min
FINANCING OPTIONS Max of 4 properties on a residential conventional loan 30 year is best for residential Commerical will be a 5 year adjustable rate REFINANCE RULES OF THUMB We don't know any rules of thumb Do an IRR calculation Use NerdWallet's or Bankrate's Mortgage Breakeven calculators https://www.bankrate.com/calculators/mortgages/mortgage-refinance-break-even-calculator.aspx Keep the psychological benefit of not having debt in mind...
May 31, 2020•34 min
