Largo Real Estate Investing & Real Estate Financial Planning™ Podcast

If you're going to manage properties yourself in Largo, 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 SpreadsheetTM 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 Largo real estate investor podcast? Book a free consultation to discuss.

Warning - Risks of Rental Demand Declining When Investing in Real Estate

Risk, risk, risk... Life is full of risks.

To a limited degree, we get to choose which risks we voluntarily take on.

For example, if you choose to invest in real estate, you choose to take on some additional risks that you might not—directly—face if you opt to invest in something else with its own set of risks.

One risk when investing in real estate is the risk that the property you buy as a rental experiences a decline in rental demand, which often leads to a reduction in the rent you are getting.

What are some things we can do to eliminate or mitigate this risk in advance of seeing possible rental market demand declining, and what are some things we can do after demand softens?

That’s what James will cover in this mini-class.

In this class, James discusses:

• A George S Patton quote about fear, risks and making decisions.
• More/Less speculative returns and why cash flow is more speculative than most people believe
• Buying properties that have mass appeal
• Buying better quality properties
• Modifying Warren Buffett's quote: Buying wonderful properties at fair prices versus buying fair properties at wonderful prices.
• Two opposing thoughts: discount for protection or quality to avoid selling
• Lower rent, hold on and absorb lower income
• Reserves and cumulative negative cash flow
• Change use
• Improve cash flow
• Sell
• Give property back
• Refi and/or recast
• Bring in partner
• Plus much more...

Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis SpreadsheetTM 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 Largo real estate investor podcast? Book a free consultation to discuss.

Learn the secrets to the BRRRR real estate investing strategy in Largo.

This class is Module 23 of 46 in a series called Real Estate Investing Secrets.

Topics covered in this module include:

• What are the different variations of the Buy, Rehab, Rent, Refi (and Repeat)—commonly abbreviated as the BRRRR strategy—and what are some of the pros and cons of each.
• What are the most common ways to finance BRRRR properties? And what are some of the more unusual ways?
• Is the BRRRR strategy typically an active or passive investment?
• How long do you typically hold BRRRR properties? And, why might you change that?
• How do you typically exit a BRRRR property? How does your buyer typically finance the purchase when they buy from you?
• Is the BRRRR strategy typically for real estate investors or real estate entrepreneurs... and what’s the difference?
• How much money is typically required to utilize the BRRRR strategy? What are some of the less common money requirements?
• What credit is required to do the BRRRR strategy? And, what are some less common credit-related requirements?
• What are the primary skills required for the BRRRR strategy?
• Is the BRRRR strategy actively or passively stable? And, what does that means in terms of the entire business blowing up in your face?
• How scalable is the BRRRR strategy?
• What is your risk exposure with the BRRRR strategy? What are some of your risks? How does that increase with certain sub-strategies?
• How quickly do you make money with the BRRRR strategy? What amount of money do you make at that interval?
• How does one typically find BRRRR deals? What are some of the more unusual ways to find deals?
• What do you use to analyze BRRRR properties?
• What are the ideal market conditions for the BRRRR strategy and what is a challenging market to utilize this strategy in?
• How accessible or available are viable BRRRR properties?
• Can you utilize your retirement money with the BRRRR strategy?
• Plus much more...

Check out the video and additional resources related to Secrets to BRRRR.

Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis SpreadsheetTM 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 Largo real estate investor podcast? Book a free consultation to discuss.

You can purchase a property in Largo, Florida using an FHA loan with just 3.5% down. Heck, sometimes you can even get down payment assistance to help with the 3.5% down payment.

But there are other loans with lower down payment options.

However, when you put less than 20% down, FHA loans require you buy insurance to protect the lender in case you default on the loan.

This insurance... called Mortgage Insurance Premiums (MIP) for FHA loans or the equivalent of Private Mortgage Insurance (PMI) on other types of loans... has both an upfront premium and a monthly premium.

And, with FHA loans this monthly premium NEVER goes away... even when you pay down the loan to well below 80% loan-to-value.

With this Mortgage Insurance Premium (MIP) that never goes away... does that mean that FHA loans are for suckers?!

Well... not so fast... in this class we will talk about the pros and cons of FHA loans and see if they’re really just a sucker’s loan or if Largo real estate investors could utilize FHA loans in a beneficial way.

See the charts and watch the video version of this class:

https://realestatefinancialplanner.com/are-fha-loans-for-suckers/

Resources Mentioned In Class

• The Ultimate Guide to Private Mortgage Insurance - A full class on Private Mortgage Insurance.

Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis SpreadsheetTM 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 Largo real estate investor podcast? Book a free consultation to discuss.

Prices have gone up rapidly in the last few years. And, interest rates are much higher. And even though rents are up, they’re not up enough to counteract the much higher prices and much higher interest rates. That makes it harder to achieve good cash flow with a reasonable down payment.

One way to overcome the impact of higher interest rates is to not use loans to buy rental properties.

In this comparison mini-class James will compare the NomadTM real estate investing strategy to taking the significantly longer extra time to save up and buy rental properties for cash.

With the NomadTM strategy, James will have you put 5% down and buy an owner-occupant property that you live in for at least a year until you’ve saved up the next 5% down payment plus closing costs and reserves. Then, buy another 5% down payment owner-occupant property and move into the new property. Convert the previous property to a rental. Repeat this process until you’ve acquired 10 properties total—9 of them rental properties you purchased with 5% down payments.

When buying properties for cash, you’ll still buy your first property with 5% down payment and move in. But, after that, you’ll take the significantly longer time to save up 100% to buy a rental property all cash. And, free and clear properties without loans have much, much better cash flow than properties financing with 5% down. But, it takes a lot longer to save up to buy the first property. Keep saving until you buy up to 9 rentals all cash.

Which strategy will get you to financial independence fastest? Which will get you the highest net worth? Which is riskiest? We will analyze this comparison for 305 US cities.

Check out the video and interactive charts from this class here:

https://RealEstateFinancialPlanner.com/model/nomad-versus-1-oo-then-9-all-cash/

Or, see Largo specific, detailed analysis of a variety of strategies here:

https://RealEstateFinancialPlanner.com/model/FL/Largo/

Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis SpreadsheetTM 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 Largo real estate investor podcast? Book a free consultation to discuss.