EP031 Creating Wealth For Yourself - How to use a little known loan to purchase and rehab your first House Hack with Kevin Murphy

At the age of 44, Hunter Carlile lost his corporate job and had to figure out how he would support his wife and three kids.  That was over four years ago, and in that time Hunter has bought/sold or rented over 200 houses!  And he's done it primarily through tax lien investing. Today Hunter shares his tax lien and investing strategies.  We'll talk about how he finds distressed properties, fixes them up, and either sells or holds as rentals.  We'll also discuss the in's & out's of tax lien investing and the pitfalls investors need to be aware of. Hunter also talks about his experiences using direct mail to find motivated sellers of distressed properties, why you should always avoid lender escrows for taxes and insurance, and how he relates to & works with home owners who find themselves in foreclosure. Hunter has also developed software that tax lien investors can use to simplify the process, and he's a coach and trainer as well.  You can find out more by going to his website or contacting him through email: https://www.taxlienvestors.com/ hunter@taxlienvestors.com Enjoy the show!

4 Dec 201748min

When many of us think of Smart Home Technology we picture Amazon Alexa or Google Home turning our lights on and off or telling us the temperature and time.  These devices can be fun and addictive, but how useful are they to real estate investors and rental property owners, and can they improve our profits? Sean Miller is the President of Point Central, a provider of Enterprise-Scale Home Automation Solutions, and today he's going to tell us how Smart Home Technology is revolutionizing the way Rental Property Owners and Managers do business. We'll discuss the true meaning of "Smart Home Technology", and how the Analytics and Real Time Property Intelligence can help monitor your systems and utility usage, as well as identify potential problems before they happen. We'll also discuss the day-to-day practical uses of this technology, such as remotely controlling vendor and tenant access to your units, eliminating the need for keys and re-keying when a tenant moves out, lowering your utility bills, and adding security and video surveillance. Smart Homes can also benefit your tenants and Airbnb guests.  Units with this technology command higher rents and increase tenant retention.  And best of all, owners and investors can see a Return-On-Investment upwards of 25% of the cost of installing these systems. I know you're going to enjoy this fascinating conversation.  You can learn more about Enterprise-Scale Home Automation Solutions by visiting the Point Central website: https://www.pointcentral.com

27 Nov 201740min

Tyler Sheff has figured out a way to build wealth by solving other people's problems, mainly by helping them invest in Buy & Hold Real Estate in order to realize tax benefits that will help them keep more of their income. Today we discuss the difference between ordinary income and capital gains, how Flips and Rehabs are taxed differently from Buy & Holds, and things you need to consider before leaving your job and eliminating earned income. Tyler also shares his experiences investing in Airbnbs and non-performing notes, working with the police department to improve his acquisitions, and how he doubled the value of his first Multi-Family Investment in two years. Tyler is also the host of "Cashflow Guys Podcast" and you can learn more about him at www.cashflowguys.com

20 Nov 201747min

Charlie Kao negotiated a Commercial Land Lease for one of his father's properties when he was only 25 years old.  But it wasn't until he had a medical scare that he began taking real estate investing seriously and created a mission statement that would guide him as a "Lifestyle Investor". Today Charlie shares the many types of investments he's succeeded with, as well as the big loss he took on one of his flips.  Charlie discusses the lessons he learned from his father, why he likes to live in his flips, his airbnb experiences, tools he uses to enhance his efficiency, returns he strives for, and why he under-prices his rentals. You'll also learn Charlie's personal reasons for working with certain non-profit organizations as a way to give back to refugee youths, as well as his future plans to invest in self-storage, and the unique criteria he's using that will lead to bigger profits. I know you'll find this episode to be highly informative.  Please take a moment to leave a review & rating on itunes. Charlie can be contacted by email or phone: mckmanagement@gmail.com (616) 378-5044 Enjoy!

13 Nov 201752min

Pat Sandro is one of the original House Hack Babies.  The duplex that he grew up in was owned by his father, and the rent from the other unit helped pay for his diapers.  From an early age, Pat was paying attention to the way his father invested in real estate and self-managed the 36 units he'd acquired.  But it wasn't until after Pat became a physical therapist that he realized the true benefits of Real Estate Investing. On today's episode, Pat shares the good times & the bad times.  From the huge profits he made flipping condos in Florida before the crash, to the money he lost after 2009.  Pat talks about the multi-family properties he's acquired, the land contracts that provide 'mailbox money', and the 'do-it-yourself' management style he learned from his father. Pat also tells us about the vacant home he purchased and the horrific discovery in the basement.  You'll also learn about Fair Housing Laws regarding Emotional Support Animals, and how Pat found himself in trouble when he unknowingly violated these rules. This is an excellent conversation about the realities of owning and managing your own investment properties, and Pat doesn't hold back from sharing the good and the bad.  Enjoy!

6 Nov 201743min

Get Ready to Get Scared by this Special Halloween Episode with Real Ghost Stories from the perspective of Rental Property Owners, Homeowners, and Tenants. Whether you believe in Ghosts or not, sometimes strange and inexplicable things happen that make the hairs on the back of your neck stand up. Our guests today talk about the creaking doors, the footsteps, the feeling of being watched, and the sensation of seeing an apparition of someone long dead. With stories from old and new guests: Ann Finkler, Gary Hall, Steve DeKoster, Brandon Krieg, John Potter, and Sue Dejonge. I know you'll enjoy this episode and I'd appreciate it if you'd share that enjoyment by giving us a review and rating in itunes. Happy Halloween!

30 Okt 201726min

Sooner or later every investor must ask the question "Where can I get the money to do my next deal?"  Today James Eerdmans from American Realty Property Management and Finance of America Mortgage will help answer that question. James is a prolific investor who has bought and sold hundreds of properties in the past 20 years.  He's also well versed in the different loan products available to home buyers and investors. In this episode we'll discuss the standard types of loans available to home buyers such as FHA and VA, credit score requirements, Private Mortgage Insurance, and the amount of money you'll need to put down (anywhere from 0% to 25%).  We also discuss FHA 203k loans, which allow homeowners the opportunity to roll their rehab costs into the amount borrowed. James also discusses the differences between Conventional, Commercial, and Private Lending, and how they apply to investors.  You'll also learn how to protect yourself from having your loan 'called in' during the next downturn, the meaning of 'portfolio loan', the number of residential loans you can have, and the different ways banks value your property. If you're unsure of the different loan options available for your investments, or are looking for updated information on the lending industry, I know you'll enjoy today's conversation.  You can contact James by email or phone: jeerdmans@financeofamerica.com 616-726-5700

23 Okt 201759min

Todd Warstler learned he was losing his job while attending a Lou Brown Real Estate Seminar.  The news couldn't have been better received, as Todd had already decided that he could make a better living using Lou's techniques. Today Todd and I discuss the "Rent-to-Own" system that has helped him replace his job income, and how he's used this training to provide affordable housing to residents who were not able to acquire traditional financing.  Todd took Lou Brown's lessons a step further by providing Credit Restoration Services that help his residents fix their credit report and improve their credit scores. Todd also shares the returns he shoots for when working with investors, the contractor nightmare he encountered, ways to save money on rehabs, and his opinion on the 'Fix & Flip' Shows made popular on HGTV. There's a lot of great information in this episode for every type of investor.  If you'd like to get a hold of Todd, you can contact him by email, website or phone: Todd@nicehomestoday.com 866-386-0590 www.nicehomestoday.com

16 Okt 201747min