For the last few weeks I have been writing about rentals and why they are so important to growing your wealth. The biggest reason that I cited was for consistent monthly cash flow. Some of you have responded and said things like its too much work to find the right deal. Or, that you just don’t want to deal with the potential challenges that are associated with owning rental properties. Today I am going to show you another way. In fact this way does not involve owning rentals…or any property for that matter. You do not have to look for Read more…

Yesterday I was talking to a client of mine about building long term wealth. We discussed some of the ways to do this in real estate. Things such as wholesaling, flipping, rentals, lending, note buying, land, development and building just to name a few.   And, of course you can “make money” at any of these real estate investing avenues. However, it is my firm belief that if you want to truly grow your wealth for the LONG term the best way to do this is through buying and holding rental property.   Now, I know many of you reading Read more…

With April 15 looming right around the corner, and many of you scrambling to get your taxes done, I wanted to write something today that if you implement can make you much, much richer. And, not only can these 2 ideas I have for you make you a lot of money, but the best part is that this money will be tax FREE! That’s right…loads of cash without having to give any to Uncle Sam! Now you may be thinking what kind of crazy idea is this? There is no way that you can legally make big $$$ and not Read more…

Have you ever considered what your life would be like if you had enough money coming in every month that covered ALL of your expenses, AND this money came in whether you worked or not?? For many people this seems like a fantasy. For others they wonder how this could even be possible. Well let me tell you that it is not a fantasy, and it IS very possible if you are willing to do a few simple things. What I am referring to here is buying and owning rental properties. However non-sexy rental properties may seem, over time they Read more…

So, let me ask you a question…are you interested in long term wealth? I’m not talking about some number like $1,000,000 or $10,000,000 or something like that. That is what most people consider long-term wealth. The question I am asking is if you are interested in having the type of wealth where the amount of money you have coming in every month exceeds your monthly expenses whether you work or not. This is my definition of true wealth…because it gives you FREEDOM. This is also called residual income. I am sure when you read that question you thought to yourself, Read more…

When taking on a real estate deal that you are flipping, which is the best way to go…pay cash, get a partner, or use hard money? Let me discuss the pros and cons of each and let you decide.   Cash: For those that have cash this can be a great way to go. It obviously limits your risk substantially due to the lack of ongoing interest payments that eat away at your profit. It also gives you options if you are not able to sell it for the price that you want and in the time that you want. Read more…

Are you using Zillow to comp your properties? STOP doing it! For those of you that have been a follower of mine for awhile, you already know how I feel about Zestimates. I have spoken often about the misuse of Zillow for property valuation and comping in my courses, coaching and pretty much to anyone who is willing to listen. Why am I so fanatical about NOT using Zillow and their Zestimate feature to comp properties? Well, the reason is quite simple…the value of a Zestimate is just flat WRONG. You see Zillow uses an algorithm, among other things that Read more…

Today I want to take a little detour from the normal real estate blog post that I write. Now, I am not saying that what I am about to discuss with you has nothing to do with real estate. In fact it is quite the contrary. However, I will need you to hang with me for a minute. In the last 15 years I have learned a lot about real estate. I’ve learned from the school of hard knocks. I have made lots of money and I have lost plenty too. I’ve become an expert in the areas of flipping, Read more…

What is holding back recent college graduates from buying homes? There are many current economic incentives for first-time home buyers: The economy, hiring and job stability is recovering. In many industries starting salaries for new graduates are at an all-time high. Interest rates are still low, helping homebuyers afford and qualify for loans. Particularly in the east, housing market prices are considered still somewhat under-valued by many experts. (This is not true on the west coast where prices may be over-valued.) Renting is currently more expensive than owning in almost every major market. But researchers are finding that today’s college Read more…

There is a new style of “post-foreclosure backlog”. Housing markets are recovering and the foreclosure crisis is now years behind us. So how is the past crisis still affecting markets and real estate investors? In many areas one of the most interesting question marks for the future are rentals. Although we are years into the recovery from the foreclosure crisis, rental markets in many areas remain larger than they have ever been. During the peak foreclosure years, approximately 2007-2009, rentals expanded sharply as many former homeowners lost their home, along with their equity and their mortgage qualification. Real estate investors Read more…