Santa Clarita Real Estate Investing & Real Estate Financial Planning™ Podcast

Learn the secrets of house hacking in Santa Clarita.

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 Santa Clarita 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 Santa Clarita 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 Santa Clarita 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 Santa Clarita, California:

Deal Analysis and Modeling for Santa Clarita

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

Learn the secrets to maximizing cash flow on rentals in Santa Clarita.

This class is Module 26 of 46 in a series called Real Estate Investing Secrets.

Topics covered in this module include how to improve cash flow:

• When selecting a real estate agent/broker
• Locking/floating your mortgage interest rate
• Searching for less expensive properties
• Searching for pretty properties that don’t need work
• Searching for properties and negotiating for seller concessions
• Searching for properties with creative financing
• When selecting a lender/mortgage broker
• When selecting a loan based on closing costs
• Offering less than list price when buying properties
• Paying for closing costs upfront instead of financing them
• Pre-paying Private Mortgage Insurance (PMI) instead of paying it monthly
• Getting a staggered rate mortgage
• Buying down your mortgage interest rate
• Improving your credit score
• Adding a strong borrower to the loan
• Removing a weak borrower from the loan
• Getting a loan partner
• Signing up for auto-pay
• Having additional accounts or relationship with your lender
• Changing the amortization of the loan including interest only loans, negative amortization loans
• Improving your interest rate from changing loan durations
• Extending the repayment period
• Changing the amount borrowed
• Changing your loan-to-value of the mortgage
• Accepting an adjustable-rate mortgage
• Eliminating PMI
• Pre-paying PMI
• Utilizing a rate and term refinance before acquisition
• Doing a cash out refi to buy/refi a property
• Paying cash for a property instead of financing it
• When getting private or creative financing
• Formally assuming a mortgage
• Changing the term of the lease
• Utilizing lease-options
• Niching down and catering to a specific group of tenants
• Utilizing roommates, renting by bed/bedroom and/or renting by parts
• Subdividing the property
• Upgrading the property
• Installing solar
• Furnishing the property
• Converting the property to more optimal configurations
• Collecting improvement rent
• Optimizing the marketing of the property
• Maximizing exposure when marketing
• Improving your sales skills to tenants and tenant-buyers
• Optimizing showings
• Refinancing the property to extend term and/or improve rate
• Paying off the loan completely
• Correcting inaccurately assessed properties
• Voting to minimize taxes
• Shopping insurance rates
• Changing insurance coverages
• Changing who is insured
• Changing insurance deductibles
• Requesting PMI be removed
• Getting discount for auto-pay
• Getting discount for early payment
• Self-managing the property
• Hiring a professional property manager
• Managing your property manager
• Insisting on best property management practices
• Maintaining your property
• Using quality materials in your property
• Accelerating depreciation
• Offering additional paid services to tenants
• Offering done-for-them services to tenants
• Correctly billing back for services included
• Tiering rent by credit score
• Collecting pet rent
• Changing billing frequency
• Offering auto-pay
• Offering discount for early or on-time payments
• Insisting on ample notice of lease renewal
• Marketing early for next tenant
• Renewing leases during peak season
• Insisting on tenant’s having renter’s insurance
• Plus much more...

Check out the video and additional resources related to Secrets to Improving Cash Flow.

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