Lafayette Real Estate Investing & Real Estate Financial Planning™ Podcast

Learn the secrets of house hacking in Lafayette.

This class is Module 15 of 46 in a series called Real Estate Investing Secrets.

Topics covered in this module include:

• What are the different variations of the house hacking real estate investing strategy and what are some of the pros and cons of each.
• What are the most common ways to finance house hacking real estate investments? And what are some of the more unusual ways?
• Is the house hacking real estate investing typically an active or passive investment?
• How long do you typically hold house hacking real estate investments? And, why might you change that?
• How do you typically exit a house hacking real estate investment? How does your buyer typically finance the purchase when they buy from you?
• Is the house hacking 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 house hacking real estate investing strategy? What are some of the less common money requirements?
• What credit is required to utilize the house hacking real estate investing strategy? And, what are some less common credit-related requirements?
• What are the 4 primary skills required for house hacking real estate investors? And, how does one of those skills vary depending which strategy you’re utilizing.
• Is the house hacking 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 is the house hacking real estate investing strategy?
• What is your risk exposure with the house hacking 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 house hacking? What amount of money do you make at that interval?
• How does one typically find deals as a house hacking real estate investor? What are some of the more unusual ways to find deals?
• What do you use to analyze house hacking real estate investments and where to get a copy of the spreadsheet you need... for free?
• What are the ideal market conditions for the house hacking real estate investing strategy and what is a challenging market to utilize this strategy in?
• How accessible or available are viable house hacking real estate deals?
• Can you utilize your retirement money to invest in house hacking real estate investments?
• Plus much more...

Check out the video and additional resources related to Secrets to House Hacking .

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 Lafayette real estate investor podcast? Book a free consultation to discuss.

Deal AlchemyTM - Residential vs Commercial Property

Deal AlchemyTM is all about manipulating the returns you're earning on your investments. Often, this is done through the choices we make when selecting the investment property and the strategies we choose to implement.

For example, you could choose to invest in residential properties where your tenants would live in the property. Alternatively, you could choose to invest in commercial properties where your tenants do not live in the property.

Often, these investments would have different numbers and characteristics, such as who pays taxes, insurance, and maintenance on the property. However, for the sake of today's mini-class, we will look at just the difference in the tax benefits of depreciation in two identical investments, except one is residential and the other is commercial, to see how that impacts your overall returns.

In this class, James discusses:

• The definition of alchemy
• What is Deal AlchemyTM
• How to manipulate returns and move them between quadrants
• An example by purchasing a commercial property with 39-year depreciation schedule instead of a residential property with a 27.5-year depreciation schedule
• 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 Lafayette real estate investor podcast? Book a free consultation to discuss.

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 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 Lafayette real estate investor podcast? Book a free consultation to discuss.

How to Analyze an All-Cash Rental Property Purchase

Deal analysis is important. Learning how to analyze deals is a critical skill for all real estate investors, whether you're financing 100% of the purchase or buying a property without a loan at all and paying all cash.

In this class, we will look at how deal analysis changes when you plan to buy a property for all cash, without a mortgage, using The World's Greatest Real Estate Deal Analysis SpreadsheetTM.

Or, check out the deal analysis example for Lafayette, Louisiana:

Deal Analysis and Modeling for Lafayette

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 Lafayette real estate investor podcast? Book a free consultation to discuss.

Learn the secrets of financing investment properties in Lafayette.

This class is Module 14 of 46 in a series called Real Estate Investing Secrets.

Topics covered in this module include:

• What are the 14 financing options for buying rental properties?
• What is PMI and why would you ever pay for insurance to protect the lender?
• How paying the lender can improve your cash flow and how accepting a little kickback from the lender can reduce your closing costs.
• The 5 most common loan programs for funding the purchase of your investment properties.
• The most common loan program—don’t worry... it is also NomadTM and house hacker approved—and the details on how to use it to buy single family homes, condos, townhomes, duplexes, triplexes and fourplexes with small down payments.
• The best loan program for those with credit challenges, recent bankruptcies, and/or foreclosures... and how to use it to acquire rental properties—even duplexes, triplexes and fourplexes—with a small down payment.
• The two nothing-down loan programs and the details on using them.
• When to go to specialized portfolio lenders... and the pros and—more importantly—the cons of using these special loan programs.
• More exotic loan programs/sources that fewer people know about and even fewer use...
• Why it pays handsomely to plan your loans from the beginning to avoid painting yourself into a corner, living with reduced cash flow and locking yourself out of being able to access equity in your properties.
• The recommended, preferred order of loans for NomadsTM looking to acquire a portfolio of rental properties.
• The importance of understanding the qualification requirements of your desired loan programs... especially if you’re self-employed.
• How your credit score impacts your ability to get loans and where to get access to your credit score... for free... to improve it and ultimately improve your cash flow.
• A simplistic—yet effective—approach to debt-to-income to help you qualify for investor loans and reduce risk.
• The most often requested loan docs and why/how you should keep a folder with these files at hand for getting new loans.
• Plus much more...

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

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 Lafayette real estate investor podcast? Book a free consultation to discuss.