Better Than Success Real Estate News Brief for Oct 25, 2021
10/25/21 • 5 min
How Do Student Loans Affect Your Ability to Buy a Home?
Why Is Zillow Pumping the Brakes on House Flipping?
The Future Of The Rental Market For Landlords And Tenants
On Wednesday’s event, Bookkeeping with Atiya Brown, she shared that real estate investors must understand what a balance sheet is. It’s the financial statement that shows what you own and who you owe something to. She also discussed that bookkeeping needs attentiveness to every detail as it will either cost you more money or save you more money in paying your taxes. Also, some investors think that cash-flow is their net income, but cash-flow is understanding what’s coming in versus what you have to pay. Another important thing is to know what reconciliations are, knowing what hits your bank accounts, whether an inflow or outflow is being accounted for, so you can catch anything that may be missing.
To see our upcoming events, visit betterthansuccess.com/events.
How Do Student Loans Affect Your Ability to Buy a Home?
Why Is Zillow Pumping the Brakes on House Flipping?
The Future Of The Rental Market For Landlords And Tenants
On Wednesday’s event, Bookkeeping with Atiya Brown, she shared that real estate investors must understand what a balance sheet is. It’s the financial statement that shows what you own and who you owe something to. She also discussed that bookkeeping needs attentiveness to every detail as it will either cost you more money or save you more money in paying your taxes. Also, some investors think that cash-flow is their net income, but cash-flow is understanding what’s coming in versus what you have to pay. Another important thing is to know what reconciliations are, knowing what hits your bank accounts, whether an inflow or outflow is being accounted for, so you can catch anything that may be missing.
To see our upcoming events, visit betterthansuccess.com/events.
Previous Episode
Better Than Success Real Estate News Brief for Oct 18 2021
What You Need To Know About That Viral iBuyer TikTok
Fannie Mae vs. Freddie Mac: What’s the difference
How to Kick Someone Out of Your House: Evicting a Family Member With No Lease
https://www.realtor.com/advice/rent/how-to-evict-a-family-member/
On Wednesday’s event, Customize Your Own Creative Financing Strategies for Your Next Real Estate Deal with Nicole Purvy, she shared shared some rules for your financing strategies, a few of them include:
With rental loans, banks will finance up to 80% of the acquisition cost or the appraisal value whichever is less.
Most banks do not require seasoning of a property for a refi.
Banks use appraisals for refi’s, but for multi-families they will consider an income approach and market data.
To see our upcoming events, visit betterthansuccess.com/events.
Next Episode
Better Than Success Real Estate News Brief for Nov 1, 2021
NFT In The Real Estate Industry: Short-Term Trend Or An Investment In The Future?
How Long Does Underwriting Take—and Can You Speed It Up?
https://www.realtor.com/advice/finance/how-long-does-underwriting-take/
What Are the Property Requirements for an FHA Loan?
On Wednesday’s mastermind Driving for Dollars with Matt Kamp he shared that what always works for investors is using a strategy that is going to cut through the competition, especially if you’re looking in places that investors are already interested in. Also, working to know more people will put you ahead of the game. They’ll be your source of information if tenants are moving out soon, if the property is vacant or being sold.
On Thursday’s Q&A with Steve Harris, he shared that when hiring a contractor and they're desperate for money you have to think about it. You have to hire someone who can stay all day to complete the tasks and be there if something goes wrong. He also shared that even good contractors can do bad work too. It’s important to micromanage and lay down what you want your contractors to do specifically to give them what outcome you’re expecting.
To see our upcoming events, visit betterthansuccess.com/events.
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