Get Rich Education

#133: Now you can put just a 20% down payment on your first 10 financed properties. Requirements for cash reserves are now lower too. We discuss the details.

You need a loan for income property. Loans mean leverage. Leverage can produce great rates of return for you in an appreciating environment

Graham Parham, Senior Mortgage Loan Officer with Highlands Residential Mortgage talks about today’s terms for income property loans on 1-4 unit properties: down payment, interest rates, credit score, reserve requirements, debt-to-income ratios and more.

We’re talking about conventional Fannie Mae / Freddie Mac financed property requirements on non-owner occupied real estate.

Keith brings you today’s show from Philadelphia, PA.

Want more wealth? Visit: 1) www.GetRichEducation.com to subscribe to our free newsletter.  2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.

Listen to this week’s show and learn:

01:30  Keith thinks that real estate will keep appreciating for a while, though at a slower rate.

04:35  20% down payments in your first ten 1-4 unit properties! Details.

06:57  Reserve requirements are now more loose. It’s now based on your unpaid balances.

11:12  Husband and wife: up to 10 loans each.

12:27  Home Equity Lines Of Credit and your Debt-To-Income Ratio.

15:14  The advantage of using an income property-oriented Mortgage Loan Officer.

19:00  Interest rates: owner-occupied vs. investor mortgage rates.

21:55  Down payments of 20% vs. 25%. Lower interest rate with 25% down?

23:57  Mortgage sequencing when you want multiple loans.

27:36  Looser lending climate today.

30:46  Property inspection reports.

Resources Mentioned:

Graham Parham Team: 1-855-326-6802

TexasInvestorLoans.com

GREturnkey.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

Direct download: GREepisode133.mp3
Category:general -- posted at: 4:00am EST

#132: Create wealth and time for yourself with these ideas, websites, apps, secrets, and shortcuts.

Get a 51% ROI from turnkey real estate investing. How? Example given.

Seth Williams of Bigger Pockets and the Lighter Side Of Real Estate joins us. Learn more about Seth at www.retipster.com.  

Want more wealth? Visit: 1) www.GetRichEducation.com to subscribe to our free newsletter.  2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.

Listen to this week’s show and learn:

02:52  Achieve a 51% ROI from turnkey real estate investing with: appreciation, cash flow, tenant principal paydown, tax depreciation, and inflation-hedging.

07:26  Risks.

09:34  GREturnkey.com - Turnkey cash flowing property in investor-advantaged markets.

12:42  NeighborhoodScout.com - Aggregating neighborhood data like crime, school district.

16:45  Overcast podcast listening app.

19:30  BombBomb.com - Send video e-mails.    

22:00  RocketLawyer.com - Access to legal documents, contracts, real estate agreements. Convenient Q & A format completes documents for you.

23:28  Cozy.co - Free self-property management platform.

25:38  LeadPropeller.com - User-friendly website builder for real estate investors.

27:14  UnSplash.com - Free high-quality, rich images. Royalty-free and legal for your use.

29:00  InvestorCarrot.com - User-friendly website builder for real estate investors.

29:14  The importance of having a real estate investor website.

31:12  BluePay.com - Accept real estate payments through credit cards.

33:30  Trello.com - Cloud-based project management. Communicate with your team.

35:18  TextExpander.com - Productivity app that lets you conveniently insert boilerplate phrases. This way, you don’t need to type the same thing over-and-over.

37:34  Wunderlist.com - Create shared cloud-based checklists.

Resources Mentioned:

REtipster.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

GREturnkey.com

 

Direct download: GREepisode132_1.mp3
Category:general -- posted at: 4:00am EST

#131: Ken McElroy is our guest today. He’s the Rich Dad Advisor for real estate. Why does your tenant move out, and what will keep them inside your rental property?

He tells us what tenants want today and how rental trends have changed over the last 5, 10, and 20 years. With over 10,000 units in multiple markets in his company’s control, he knows.

In many markets, rent increases are not coming as easily as they were a few years ago.

Ken & I discuss the best ways to increase income on your property.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive turnkey real estate investing opportunities.

Listen to this week’s show and learn:

02:12  Polling tenants at move-out to determine why they moved.

05:05  Tenants are more mobile today. They go where jobs are.

06:40  Service level to tenants is more important today - fitness center, activities directors, shuttle vans, and even bartenders.

07:35  Living spaces of 200 - 300 square feet in urban cores and college towns.

09:44  Why can’t tenants pay more rent? Discussion on negative rent growth.

13:52  High rents can be a threat to public safety.

22:20  Why did your tenant move out?

28:03  School districts, crime.

30:19  Forecasting infrastructure improvements and how that boosts local real estate.

34:47  Websites that Ken uses for real estate market research.

37:22  Increasing your Net Operating Income - best ways, dumbest ways.

40:49  Pushing rents too high.

44:12  Ken feels real estate is still the best asset class to be invested in. But he tells us to exercise caution in a hot market.

46:22  Catch up with Ken at KenMcElroy.com  Check out his great video series, KenFlix.

47:53  A lot of people are going to lose everything in the next five years.

Resources Mentioned:

KenMcElroy.com

Nmhc.org | Uli.org

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

 

Direct download: GREepisode131_1.mp3
Category:general -- posted at: 4:00am EST

#130: The U.S. housing market shortage is on. Inventory is getting squeezed in many markets. Keith discusses.

Jordan Goodman is our guest today. He’s “America’s Money Answers Man” and you’ve seen him answer money questions across the decades on The View, Fox News Network, CNN, CNBC, the CBS Evening News, Money Magazine, and terrestrial radio.

He’s also authored 13 books on personal finance.

Jordan tells us: how you can use leverage, how to create a cash flow stream by making a real estate loan to others, what Donald Trump means to real estate investors, about the future of interest rates, consumer sentiment, and more.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive turnkey real estate investing opportunities.

Listen to this week’s show and learn:

01:22  The U.S. housing squeeze is on. For example, in Seattle, one in only 263 homes is for sale.

04:24  Bubbles.

07:02  Jordan Goodman interview begins.

09:27  Leverage: dolphins vs. sharks.

16:28  Build an income stream of 8% cash flow by being a lender on commercial real estate.

27:18  Donald Trump and the real estate market.  

31:21  The U.S. real estate shortage.

33:10  Interest rates.

34:27  Consumer sentiment and jobs.

37:32  Banks are not paying more on deposits, even with higher interest rates.

39:40  Reclaim your lost escrow dollars by using these websites.

Resources Mentioned:

MoneyAnswers.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

CommercialRealEstateIncomeFunds.com

VerifyMyMortgage.com

VerifyMyEscrow.com

Article: 10 U.S. Cities With Biggest Housing Shortages

 

Direct download: GREepisode130.mp3
Category:general -- posted at: 4:00am EST

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