Category: Podcast

Podcast#55 – Fundamentals – Ask Lane – U Haul Crane Report, Turnkey Apartments, Clay Pipes

Van lines and U-haul report
Similar to how there are turnkey providers for single family that manage everything, is there anything similar for multi family/apartments? spring lake plumbing and tv clay pipes
http://assets.rlb.com/production/2016/06/22082434/RLB-Crane-Index%C2%AE-North-America-January-2016-1.pdf
https://www.google.com/search?q=Rider+Levett+Bucknall+North+American+Crane+Index&oq=Rider+Levett+Bucknall+North+American+Crane+Index&aqs=chrome..69i57j0.343j0j4&sourceid=chrome&ie=UTF-8

I was having a lot of trouble with the plumbing getting clogged up in this particular property. Especially when it rained.

Come to find out the roots outside the home were growing in the pipes. These pipes were made out of clay and the roots like to find the water source and break the pipes. The solution is to get a Backhoe and operator for half the day to dig up the old pipes and replace with PVC. Where did I get this info??? My day job as an engineer šŸ˜›

 

Podcast#54 – Fundamentals – Debt Deal vs Equity Deal

Debt deal typically has less risk but less reward. Below are a couple of my guys (below) who lent money to as the Private Money Lender are sure happy after their hard work and risk. Lucky guys! They sold for $15,000 over anticipated. But for me as the debt investor, I saw no equity upside.

Equity deals have a lot more options on how returns are paid out. You partake in the upside returns and downside risks.

Well, at least the bought be dinner while I was in town.

 

 

 

Podcast #052 – Fundamentals – Caeli Ridge – All About Financing Single Family Homes with Government Subsided Fannie Mae/Freddie Mac Loans

Fannie Mae/Freddie Mae Loans currently at 10 loans or 10 golden tickets
Some Credit Unions have portfolio loans but its all going back to the Government
As of 4/2017 – 0 to 6 rentals is in one book (guidelines) 7-10 is in the other book
1) Credit Score – 720 or greater in spots 7-10
2) Assets – Liquid and Non-Liquid for downpayment (must be sourced and seasoned 2-months liquid) and cash reserves needs 1-6 liquid or non liquid for subject property needs to show 6 months PITI plus 2 months for each other property in addition. For property 7-10 you need 6 months PITI for all properties
3) Dept to Income (DTI) – 50%
We get to use 75% of the supposed rents as income in DTI
LOE – Letter of Explanation
Price adjustments
30 day rate lock
Timing the appraisal
Portfolio loans
Delayed Financing

Podcast#050 – Interview – Mark Kenney – CPA to Apartment Syndication

Mark is a seasoned real estate investor, entrepreneur and founder of Think Multifamily. Mark started his real estate career over 20 years ago and has extensive experience in property valuation, acquisition, and operations. He has a passion to help others succeed in the multifamily arena.

Mark is invested in 1,750 units and has a top-notch reputation among the multifamily investment community for providing exceptional value to investors and the community while being easy to work with.

Mark is a 1993 graduate at Michigan State University in Accounting and is a CPA. He has provided IT consulting for 20 years and is leveraging his vast IT experience to bring new creative technologies that will help others in the multifamily space. He has worked for organizations such as KPMG Consulting, EDS, SAP, HP, and founded Simplifying-IT which provides IT services to fortune 500 companies.

Looking for a passive fund that invests in distressed notes?
SimplePassiveCashflow is proudly sponsored by www.investinahp.com

Time is the most important resource! Email Lane@simplepassivecashflow.com to use the same VAs I use

 

Podcast #49 – Fundamentals – Why not to buy cheap $50K properties

Check out the ultimate turnkey guide here.

Why don’t buy Turnkey under 50k.
1) not worth financing… If your not financing then what’s the point
2) bad tenant quality
3) no exit strategy because no one will want to buy it other than a sucker investor

I am transitioning to MFH syndications and selling my 10 B Class properties in Birmingham/Atlanta/IndyĀ (rents $900+/month). They are going to go up on Roofstock.com for investors to purchase at 1.2M asking. The highs are sorta mediums and the lows are lows šŸ™

 

PS: There is no such thing as turnkey. Check out these disaster photosā€¦ https://photos.app.goo.gl/R4PZLuOLGHONO5Rl2

And always but with inspection and appraisal.

Let me know if you would like a referral to any good turnkey providers

Also try RoofstockĀ …Ā Where I sold my turnkey properties

 

 

Podcast #48 – Interview – Kenny Wolfe – Got $50K? Move over SFHs!

Kenny Wolfe is an apartment syndicator today but it was not always like that
At 33 years old he left his CFO position and went full-time REI
2016 might have been the peak (100 deals, 10 look ok, and one offer)
5.25% interest rate at early 2017, 1.25 DSCR is a hard underwriting figure
At 24 years old bought and failed at a tanning salon
MFH Property Management is much more responsible
Treating investing like a business with an office and professional documents
If you need a VA I am a partner of a VA firm that offers super qualified staff for a variety of tasks. Get creative and send me an email if interested in a free 10-hour trial.
www.Wolfe-re.com

 


Podcast #47 – Fundamentals – City Fines, Special Webinar Announcement, Dealflow

I am opening the kimono and getting nakedā€¦ I am hosting a free webinar showing my 2017 results from my 10 SFH personal portfolio.

WHEN: 6PM, Monday April 3, 2017

It is only available to those who have signed up for the HUI Deal Pipeline Club. Click here to sign up!

Complete Private Form to get on the Guest List:
https://docs.google.com/forms/d/1gulyiaz7_gb8koqGl91bGPz-mdwlBVz-PcvXDOXOL5Y

You will learn the following:
-See how I use excel to track each property performance per the Schedule E
-See how I track overhead ie meals and other fun purchases like my beloved Apple AirPods
-What metrics I keep track of
-How much money I made last year
-What was my average returns
-How many of the properties actually lost money
-This may never be seen again! – I do not know if I will release/record this to the public for obvious reasons so this may be the only chance for you to see this.

Please reply back to me to unsubscribe and I will not email you again.

Check out the first few foundational podcasts and then start on this checklist:
https://docs.google.com/document/d/1HE9pEJU9s8IZWvQJ-rNOH8qPxCtr9100i9GFiaeVaYQ
And if you need help starting a SFH portfolio or Turnkey Rentals…
https://docs.google.com/document/d/1AuiPk8ABaA3vu1VzbUsfRiFQLEt-LXtUfI6GcwxgnsE

Commentary of the market from my crystal ball:
The Fed and Executive branch are in conflict. Both want control and want to wrestle control away from the other and make the other look bad.

Look out for instability in China as it might be the trigger for economic weakness.