• Secrets of Nomad™ Real Estate Investing
    Nov 22 2024

    Learn the secrets of the Nomad™ real estate investing strategy for Seattle real estate investors.

    This class is Module 10 of 46 in a series called Real Estate Investing Secrets.

    Topics covered in this module include:

    • What are the different variations of the Nomad™ real estate investing strategy and what are some of the pros and cons of each.
    • What are the most common ways to finance Nomad™ real estate investments? And what are some of the more unusual ways?
    • Is the Nomad™ real estate investing typically an active or passive investment?
    • How long do you typically hold Nomad™ real estate investments? And, why might you change that?
    • How do you typically exit a Nomad™ real estate investment? How does your buyer typically finance the purchase when they buy from you?
    • Is the Nomad™ real estate investing typically for real estate investors or real estate entrepreneurs… and what’s the difference?
    • How much money is typically required to invest utilizing the Nomad™ real estate investing strategy? What are some of the less common money requirements?
    • What credit is required to utilize the Nomad™ real estate investing strategy? And, what are some less common credit-related requirements?
    • What are the 4 primary skills required for Nomad™ real estate investors? And, how does one of those skills vary depending which strategy you’re utilizing.
    • Is the Nomad™ real estate investing actively or passively stable? And, what does that means in terms of the entire business blowing up in your face?
    • How scalable—in terms of net worth—is the Nomad™ real estate investing strategy? What level of net worth is it typically associated with?
    • What is your risk exposure with the Nomad™ real estate investing strategy? What are some of your risks? How does that increase with certain sub-strategies?
    • How quickly do you make money with Nomad™? What amount of money do you make at that interval?
    • How does one typically find deals as a Nomad™ real estate investor? What are some of the more unusual ways to find deals?
    • What do you use to analyze Nomad™ real estate investments and where to get a copy of the spreadsheet you need… for free?
    • What are the ideal market conditions for the Nomad™ real estate investing strategy and what is a challenging market to utilize this strategy in?
    • How accessible or available are viable Nomad™ real estate deals?
    • Can you utilize your retirement money to invest in Nomad™ real estate investments?
    • Plus much more...

    Check out the video and additional resources related to Secrets of Nomad™ Real Estate Investing.


    Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:

    https://RealEstateFinancialPlanner.com/spreadsheet

    Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.

    Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the Seattle real estate investor podcast? Book a free consultation to discuss.

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    1 h et 18 min
  • Secrets of Asset Protection
    Nov 15 2024

    Learn the secrets of asset protection for Seattle real estate investors.

    This class is Module 9 of 46 in a series called Real Estate Investing Secrets.

    Topics covered in this module include:

    • My top 10 asset protection tips for real estate investors that you’d be a fool to ignore.
    • The importance of getting bespoke legal advice and why you should never rely on free advice from articles, classes, podcast episodes and forum discussions for your unique situation.
    • What happens if someone sues you when you own a rental property... understanding your risks. What if you own more than one property? How does this change when you own the property in an LLC? What happens if the tenant “wins” the lawsuit?
    • What’s a common setup that asset protection attorneys might recommend for real estate investors... maybe even recommend for you?
    • What might real estate investors utilizing the Nomad™ real estate investing strategy progress through for asset protection... plus the downsides.
    • Why language like “sharks don’t get cancer” can be dangerous for real estate investors and the importance of critical thinking.
    • Why you should never rely on your adversaries being incompetent as an asset protection strategy.
    • What exactly does the “Due on Sale” clause say? You’ll finally read it and understand what it says because I’ll read it to you and discuss it.
    • Why “I’ll just transfer it back” is not a viable strategy if a lender enforces the due on sale clause... I’ll read you the section where this applies too.
    • An introduction to the risk matrix... which you’ll learn more about in the risk module.
    • A clever way to use insurance premiums as a proxy for measuring how risky something is.
    • Evaluating the cost and value you get from auto insurance, property insurance and umbrella insurance for asset protection with actual insurance numbers.
    • Just how risky doing your own work as a handyman/contractor on your rental properties is... with numbers to back it up.
    • Why it is important to realize that you don’t know what you don’t know to properly deal with asset protection for real estate investments.
    • How property equity relates to how much asset protection you need... and what may be a controversial conclusion.
    • The importance of not doing stupid stuff.
    • Plus much more...

    Check out the video and additional resources related to Secrets of Asset Protection .


    Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:

    https://RealEstateFinancialPlanner.com/spreadsheet

    Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.

    Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the Seattle real estate investor podcast? Book a free consultation to discuss.

    Voir plus Voir moins
    1 h et 24 min
  • Secrets of Hiring and Managing a Property Manager
    Nov 8 2024

    Learn the secrets to hiring and managing a property manager in Seattle.

    This class is Module 8 of 46 in a series called Real Estate Investing Secrets.

    Topics covered in this module include:

    • A small tweak to your mindset around renting your property that will change all aspects of your property management... for the better... to make it easier, to lower risk, and improve profitability.
    • How do you find a quality property manager you can trust to handle your valuable assets?
    • Should you go with a one person “mom and pop” superstar as a property manager or a team?
    • A warning sign that your property manager will have a hard time being “firm but fair” with your tenants and advocate on your behalf
    • A detailed list of property manager interview questions...
    • What’s one thing that you should insist your property manager has and why?
    • What are typical property manager services offered and what is more unusual, niche offerings that you may (or may not) be able to easily find?
    • What are the primary and secondary profit centers and fees charged by property managers?
    • What does a typical property manager charge? And, what additional gotcha fees might there be?
    • How do you determine their leasing policy? And, what should you insist on?
    • What is the property manager’s walkthrough policies and what is recommended?
    • How do property managers enforce occupancy limits and how this can save some real estate investors $1,000 per day per person in fees/fines!
    • How does a property manager address tenant qualifications for screening? And, a list of questions to ask them to limit risk, reduce vacancies and evictions and improve profitability in your properties.
    • How much do property managers charge tenants? And, how does that work with the owners?
    • How do property managers deal with maintenance on your properties and how can this be a profit center for them?
    • How do property managers deal with service animals, emotional support animals and pets?
    • How will your property manager disburse rents collected? When? How frequently?
    • When does your property manager start marketing your property for rent to minimize vacancy, maximize rent and reduce risk?
    • How do property managers deal with evictions and the fees associated with them?
    • How do property managers deal with collections when a tenant can’t pay?
    • The ridiculously insane way that some property managers deal with late fees... and what you might do about it.
    • How do property managers deal with rent comps before you buy properties and after they’re managing the property?
    • What if things don’t work out? How do you exit out of a property management agreement?
    • A “gotcha” with hiring a property manager that can cost you upwards of tens of thousands of dollars per property—and a lot more on expensive properties—if you don’t deal with it appropriately.
    • How does your property manager add an additional layer of asset protection to real estate investors? And, what else do they do to reduce your risk and liability exposure?
    • Plus much more...

    Check out the video and additional resources related to Secrets of Hiring and Managing a Property Manager.


    Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:

    https://RealEstateFinancialPlanner.com/spreadsheet

    Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.

    Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the Seattle real estate investor podcast? Book a free consultation to discuss.

    Voir plus Voir moins
    1 h et 57 min
  • Secrets of Overcoming Tenant Challenges
    Nov 1 2024

    Learn how to overcome tenant challenges in Seattle.

    This class is Module 7 of 46 in a series called Real Estate Investing Secrets.

    What do you do when you experience the inevitable tenant challenges like:

    • Tenant not paying rent
    • Tenant’s check returned for non-sufficient funds
    • Tenant makes late payment
    • Tenant breaks lease
    • Tenant provides partial payment
    • Roommates break lease
    • Roommate issues/conflicts
    • Tenant not maintaining property
    • Receive city ordinance violation
    • Tenant does not vacate property after lease expires (tenant holdover)
    • Bed bugs in property
    • Receive HOA violation notice
    • Receive noise violation notice
    • Tenant dispute with neighbor
    • Automobile violation
    • Pet violation
    • Occupancy violation
    • Maintenance request on property
    • Disputed damage deposit

    Plus much more...

    Check out the video and additional resources related to Secrets of Overcoming Tenant Challenges.


    Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:

    https://RealEstateFinancialPlanner.com/spreadsheet

    Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.

    Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the Seattle real estate investor podcast? Book a free consultation to discuss.

    Voir plus Voir moins
    52 min
  • Secrets of Buy and Hold Real Estate Investing
    Oct 25 2024

    Learn the secrets to buy and hold real estate investing in Seattle.

    This class is Module 6 of 46 in a series called Real Estate Investing Secrets.

    Topics covered in this module include:

    • What are the different variations of the buy and hold real estate investing strategy? Variations based on down payments? Variations based on property types purchased? Variations of rental duration and niche business models?
    • What are the most common ways to finance buy and hold real estate investments? And what are some of the more unusual ways?
    • Is buy and hold real estate investing typically an active or passive investment?
    • How long do you typically hold buy and hold real estate investments? And, why might you change that?
    • How do you typically exit a buy and hold real estate investment? How does your buyer typically finance the purchase when they buy from you?
    • Is buy and hold real estate investing typically for real estate investors or real estate entrepreneurs… and what’s the difference?
    • How much money is typically required to invest in buy and hold real estate? What are some of the less common money requirements?
    • What credit is required to utilize the buy and hold real estate investing strategy? And, what are some less common credit-related requirements?
    • What are the 4 primary skills required for buy and hold real estate investors? And, how does one of those skills vary depending which strategy you’re utilizing.
    • Is buy and hold real estate investing actively or passively stable? And, what does that means in terms of the entire business blowing up in your face?
    • How scalable—in terms of net worth—is the buy and hold real estate investing strategy? What level of net worth is it typically associated with?
    • What is your risk exposure with the buy and hold real estate investing strategy? What are some of your risks? How does that increase with certain sub-strategies?
    • How quickly do you make money with buy and hold? What amount of money do you make at that interval?
    • How does one typically find deals as a buy and hold real estate investor? What are some of the more unusual ways to find deals?
    • What do you use to analyze buy and hold real estate investments and where to get a copy of the spreadsheet you need… for free?
    • What are the ideal market conditions for the buy and hold real estate investing strategy and what is a challenging market to utilize this strategy in?
    • How accessible or available are viable buy and hold real estate deals?
    • Can you utilize your retirement money to invest in buy and hold real estate investments?
    • Plus much more...

    Check out the video and additional resources related to Secrets of Buy and Hold Real Estate Investing.


    Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:

    https://RealEstateFinancialPlanner.com/spreadsheet

    Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.

    Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the Seattle real estate investor podcast? Book a free consultation to discuss.

    Voir plus Voir moins
    1 h et 7 min
  • Secrets of Property Management
    Oct 18 2024

    Learning how to correctly manage properties is a critical skill for landlords.

    This class is Module 5 of 46 in a series called Real Estate Investing Secrets.

    Topics covered in this module include:

    • What should you be doing to document the condition of the property before the next tenant takes possession?
    • The one free thing that few landlords do that could save you thousands of dollars from an unscrupulous tenant.
    • What is the risk-reduction significance of having matching photos of before and after?
    • What reminders should you be sending the incoming tenant before they start renting your property?
    • What is the best practice for how do you deal with a tenant moving in mid-month?
    • What’s the one critically important thing we must do with the security deposit and first month’s rent we collect from the tenant?
    • What day should the new tenant’s utilities start?
    • What else do we give tenants prior to moving in that we expect them to have done prior to move-in?
    • A little management trick you can use that gives us a break the morning the tenant’s moving in.
    • What should you lease say about the move-in inspection form to significantly reduce your risk?
    • What does a move-in inspection form look like? And, what should it say?
    • What obligations does the tenant have to you… as the landlord the first week moving into the property? What do you do if they fail to provide it to you after 5 days?
    • How do we address pest control issues with a property a tenant has just moved into?
    • What’s one thing we insist tenants do in the lease and require they provide proof of when they move in?
    • What should you be doing for the tenant in the first month? And, why do some landlords prefer to do this every month?
    • What’s one little reminder for the tenant that can save you thousands in repair costs?
    • When should you inspect a property? How do you deal with lease violations if you discover them?
    • What should you be doing 90-120 days prior to the current lease expiration date?
    • How do you differentiate between renewal rent rates and fair market rents? And, how do you deal with this discrepancy?
    • What should you be doing 60-90 days prior to the current lease expiration date?
    • See an example of a lease extension, why I personally recommend not using one and what to do instead.
    • What do you do if the current tenant is not renewing their lease?
    • An example of a move-out checklist? What should you include in yours?
    • What should be the very first thing you do when taking possession of the property from a tenant at the end of their lease?
    • What must you do to avoid having to pay a tenant 3 times their security deposit?
    • What should you have in every tenant file?
    • Plus much more...

    Check out the video and additional resources related to Secrets of Property Management.


    Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:

    https://RealEstateFinancialPlanner.com/spreadsheet

    Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.

    Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the Seattle real estate investor podcast? Book a free consultation to discuss.

    Voir plus Voir moins
    1 h
  • Secrets of Tenant Screening
    Oct 11 2024
    Tenant screeing... an important, but often overlooked skill. If you're going to manage properties yourself in Seattle, you're going to need to know how to screen tenants. This class is Module 4 of 46 in a series called Real Estate Investing Secrets. Topics covered in this module include: What are the 5 steps in the property management process?What 10 things should you always check—and why—when preparing a property to rent?The Tenant Screening Process... in 5 easy steps.How to think about renting your property to get in the right mindset.Why you should be deliberately charitable... if you choose to be charitable... outside your rental property business.How does the initial call with your prospective tenants set the tone for your entire relationship?How to define the landlord-tenant relationship.What is it important to answer your phone when marketing to find tenants and what this says about how your tenants are likely to respond to you as a landlord.Why is it critically important to screen tenants on the first call and to not meet unqualified prospective tenants at your property?The magic words for getting a tenant to open up to you on the phone with your questions.What are the 10 critical initial screening questions to ask tenants on the phone before scheduling a time to meet them at the property?What are the different ways to show tenants your property?How should you prepare for showing the property to prospective tenants and why the first thing is critically important if you want to be paid on-time from your tenants?How to show the property to your tenants... and the one thing at the showing that will clearly demonstrate to you how your tenants are likely to take care of your property.The counter-intuitive secret to following up with tenants after showings...How to collect an application from tenants... especially if you’re not going to pay for a web-based service.What must you require from your applicants to be able to process their application... and how to deal with a tenant not having everything.The critical things you need to double check as you accept the application to process... and what to do if the tenant comes up short.Who provides an application and application fee... and why?How to get tenants to only apply to your property when considering other properties.The critical things you must get from your tenant—beyond security deposits and first month’s rent—to help protect you and help ensure you get paid.How do you deal with a tenant that provides incorrect (false) information on an application?How do you get an application and paperwork to use for your rental business?The one thing you need to do to avoid hefty fines, lawsuits and possible jail time.A surprising perspective on something that affects over 65 million Americans, but could open you up to liability, lawsuits, and possible jail time... and how you should properly deal with it.Tips and best practices for working with disabled applicants, service animals, emotional support animals and more.A powerful, inexpensive strategy to uncover bad apple tenants before you rent to them.Example application evaluation criteria and why it is critically important to use written, objective criteria when approving an applicant.A sneaky little way to get an informal co-signor on your tenants voluntarily to increase the odds of you getting paid if your tenant is unable to pay.Examples of common application criteria overrides and how you might handle them... and one that I’d encourage you to make an automatic disqualification.An example reservation deposit agreement, how to use it and when to use it.How do you notify tenants when they’re approved? When they’re not approved? When MUST you—by law—send them a letter telling them they’re not approved?How do you deal with tenant screening on a property you’re buying with an existing tenant?Plus much more... Check out the video and additional resources related to Secrets of Tenant Screening. Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheetImprove Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the Seattle real estate investor podcast? Book a free consultation to discuss.
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    1 h et 24 min
  • Secrets to Marketing to Find Tenants
    Oct 4 2024

    If you're going to manage properties yourself in Seattle, you're going to need to know how to do the marketing to find tenants.

    This class is Module 3 of 46 in a series called Real Estate Investing Secrets.

    Topics covered in this module include:

    • The 6 “Property Management Mastery” modules included with this course.
    • How to change your thinking about renting a property to a tenant that can improve your marketing and tenant screening.
    • How early should you start marketing your property for rent? Why start then? What are the advantages? And, what must you do if you cannot start then?
    • A Comprehensive Tenant Marketing Plan
    • How do you deal with marketing for a tenant when purchasing a property to rent immediately?
    • What are Fair Housing laws and why are they critically important for you to understand and follow them as a landlord?
    • Do you need to do all the marketing we suggest? What if you could only do 1 thing? 2 things? 3 things? Includes a discussion of the Pareto Principle (80/20 Rule).
    • The top marketing sites for marketing your property for rent.
    • To syndicate or not? A brief discussion.
    • The importance of spying on your competitors and what specifically to look for and how to utilize what you discover.
    • What to include in your ad? And, how to think about your marketing.
    • Why hiring a professional photographer… even if you have an amazing camera on your phone… is strongly encouraged and the unexpected reasons behind this suggestion. Examples of amateur versus professional photos.
    • How to increase the quantity of your tenant leads. How to increase the quality of your leads. When to use each strategy in your business.
    • What’s one thing you need to include in your ad and understand for each step in your tenant screening process?
    • How to utilize yard signs and directional signs to generate tenant leads.
    • What should you use YouTube for when marketing for tenants? And, how to do it.
    • What should you do with flyers for your rentals?
    • How to use postcards to neighbors and when do we typically use them when marketing properties?
    • How do we suggest using Facebook for marketing your properties?
    • A method to market your property that may or may not be available in your market, but why you should use it if it is available.
    • What are the rare circumstances where we’d utilize Open Houses to fill rental vacancies?
    • When should you create, maintain and use a Buyer’s List when marketing properties?
    • Plus much more...

    Check out the video and additional resources related to Secrets to Marketing to Find Tenants.


    Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:

    https://RealEstateFinancialPlanner.com/spreadsheet

    Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.

    Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the Seattle real estate investor podcast? Book a free consultation to discuss.

    Voir plus Voir moins
    1 h et 2 min