I usually don’t use this email list for self-promotion… but today I’m making an exception! I’m just really excited because I contributed to a fun new money book that is being released later this month… Wooohoo š„³ It’s called: Money Mastermind About 30 money experts came together to write a book (I contributed 1 chapter Read more about I wrote 1/30th of a book![…]
Refinance Magic – Putting Equity to Work [Guest post by āK. Money!ā] What if I told you that I could increase the production value of your rental property by 10-20% and I will PAY YOU $4,600 to do it, does that sound like something you’d be interested in!? Now you are probably thinkingā¦ā¦ “This sounds Read more about Refinance Magic – Putting Equity to Work[…]
Help me out… In September last year, I sent outĀ thisĀ message, which wasĀ a public declaration of one of my goals… To get my California Real Estate License. The reason I committed to this goal publicly, was so everyoneĀ could hold me accountable, and encourage me if I fall behind or think about quitting. Well, today is the Read more about Hold me accountable…[…]
When I published my last fourplex post, I had no idea how many of my tenants would or could pay rent for the month of April. Now that I have all the figures, I wanted to share a quick update. First, you might be wondering why it took so long to get rent income information. Read more about Rent Collection & Updates During Quarantine[…]
Every real estate investor has their own risk tolerance, and as such, plans for emergencies differently. I like to think Iāve got a pretty good emergency plan, but honestly, itās never been truly put to the test. When I started buying investment real estate ~6 years ago, I tried to adapt a conservative mindset and Read more about 4 x Fourplexes – Emergency Funds and Recession Planning[…]
The Pessimists are always right! (in the short term) – Guest post written by Joel’s Dad! – Do you ever get tempted to divide everyone up into optimists and pessimists? Optimists are always looking on the bright side; āglass half fullā, ready to accept even the smallest chance of success against the odds. Read more about The Pessimists are Always Right (In the Short Term)[…]
Steve: Hey Joel, can I borrow $50,000? Joel: Ah… thatās a lot of money… What are you gonna do with it? Steve: Well, I have an opportunity to buy a rundown house. My plan is to fix it up, put a renter inside, and then sell it to another investor as a āturnkeyā rental Read more about Accidental Hard Money Lending[…]
It’s a fact… People have a better chance of reaching their goals if they commit to them publicly. That way, others can hold them accountable. So… I want to share one of my new personal goals with you in hopes that you hold me accountable and keep me on track. My Goal: To get a Read more about Let it be known…[…]
Property Managers are the backbone of your buy & hold rental business. While youāre sitting back and counting your money, they are watching over your affairs and handling all the dirty tasks that you donāt want to do. Finding a good property manager however, can be a hard task. There are hundreds of management Read more about Hiring a Property Manager? – Ask These Questions…[…]
OK, so youāve read about these so called āsyndicationsā and think you may want to give it a try… Youāve got a spare $50k in your checking account and feel bad that itās just sitting there not earning any interest. Your friend one day says āhey, I know a guy thatās buying a mobile Read more about Syndications for Beginners: How to Vet Sponsors & Deals[…]
Newbie: āReal estate investing sounds so cool! How many rental properties do you own?ā Me: I own 22 toilets. Newbie: āHuh? I was asking about your rental houses.ā Me: I know. Let me tell you. Somewhere in Texas, there are 22 toilets that I own. Right now, and throughout the day, people are shitting in Read more about How Many Toilets Do You Own?[…]
There are downsides to owning out of state rental properties. Some of them can be combated with careful planning and extra ongoing efforts, while others are simply unavoidable. None of my rental properties are even remotely close to where I live. (In fact, the closest property I own is 1,463 miles away – just a Read more about The Downsides to Owning Out of State Rental Properties (And How to Deal With Them)[…]
Itās now been a full 12 months since purchasing the last fourplex property, and Iāve learned a TON of stuff during this time. The buildings have mostly stabilized, and my personal involvement has shrunken down to just a few hours of work per month. In this post I talk about property management, and share Read more about 4 x Fourplex Saga – (Part 3) – Property Management & Accounting[…]
In late 2018, I changed my primary investment strategy to real estate syndications. Iāve invested $100k so far across 2 different apartment complex deals, and plan to fund another 2-3 syndication projects in 2019 also. What the heck is a real estate syndication anyway??? To help answer this question I’ve asked Michael Bishop from Read more about Syndications for Beginners: What is a Real Estate Syndication?[…]
Sometimes I feel like the worldās worst real estate investor. Even with all the books, podcasts, and knowledge Iāve consumed over the years, I still regularly screw up, waste time, lose money, and make rookie mistakes. Iām not alone… Perfect Investors: – donāt lose money, – donāt make mistakes – donāt need help Read more about Making Mistakes in Real Estate – We All Do It[…]
There’s a Prostitute in My Rental Property! Youāve probably heard the sayingā¦ āPimpinā aint easyā… And after my recent experience I can verify that this is 100% true! Especially since I didn’t even know I was pimpinā to begin with! Iāve been a real estate investor (please note this is just a Read more about There’s a Prostitute in My Rental Property![…]
Earlier this year I found myself in a rut. A real estate investing rut. I had my head down focusing on buy/hold rental properties for so many years, I never really took a step back to consider my overall strategy and general position as an investor. In addition to this rut, a couple new factors Read more about Changing Real Estate Investing Strategies[…]
Investing in a House Flip For a long time my investment strategy has been ābuy and holdā rentals. Specifically, small multi-family properties. This has been a slow and conservative way to building wealth through real estate. Iāve read about people that “flip” houses for quick profits, and it never really interested me in Read more about Funding a House Flip – Numbers, Notes, and Q&A![…]
How well do you handle stress? When youāre laying in bed awake at night, are you dreaming about the fun things in life? Or are you stressing about the potential problems you come across each day? I used to think stress came and went as a result of the environment I was in. But what Read more about Ready… Set… STRESS![…]
Woohoo! Your investment property has risen in value! But before we go out celebrating, letās talk quickly about return on equity. Having more equity doesnāt necessarily mean that your returns are increasing. In fact, as your property value increases, your return on equity decreases. Wait a sec… What the heck does that mean? Letās run Read more about When More Equity = Less Return[…]
4 x Fourplexes… Part 2: Investment Timeline and Numbers Finding The Fourplexes: Probably the coolest part of this story is that these Fourplexes were found and purchased off-market. Meaning, nothing was listed for sale publicly on the MLS, and I was the only investor who knew about it. No competition, no worries. One Read more about 4 x Fourplexes (Part 2): Investment Timeline and Numbers[…]
How I Bought 4 x Fourplex Investment Properties in 12 Months – (Part 1) In the last 12 months my brother and I purchased 4 x fourplex rental properties in a small town in Texas. These were all off market properties (not listed publicly for sale on the MLS), all purchased from the same Read more about How I Bought 4 x Fourplexes in 12 Months – (Part 1)[…]
My First Investment Property… I was 18 years old and barely out of high school when I bought my first investment property. Actually, I should really say āstumbled uponā my first investment property. It was a family deal, driven mostly by my parents. Now before you go thinking that I was born with a silver Read more about My First Investment Property, Age 18[…]