Archive for December, 2019

Real Estate Investing for Beginners: Expectation vs Reality

property investment 20 Comments »

Real Estate Investing for Beginners: Expectation vs Reality

Let’s debunk some common myths about real estate investing, and share what it’s ACTUALLY like, no sugar coating – enjoy! Add me on Snapchat / Instagram: GPStephan

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First expectation: Real estate investing is passive.
The reality is that creating the type of rental property to the point where it’s passive income takes a LOT of work. But the work is, at times, still ongoing. Eventually you’ll have a vacancy. Eventually you’ll need to fix things up again. Nothing will last forever. Sure, you can get a property manager who’ll handle much of this for you – but you will need to do SOME work yourself, even if it’s as small as choosing between finishes or approving bids on work. It won’t be an insane amount of work, but it will be something. So yes, real estate CAN be fairly passive…but it’s not passive if you don’t put in the work UPFRONT.

Second Expectation: In order to invest in real estate, you need to do the repairs yourself or be a good handyman.
The reality is that I can’t do anything besides change a lightbulb. While I do know some landlords who do the work themselves to save the money, this is absolutely not a requirement – and depending on how much your time is worth, it’s often cheaper just to pay someone else to do it the right way. It’s also worth noting that since all these repairs are a write off, you can write off the costs against your income…but, if you do the work YOURSELF, you cannot deduct the cost of YOUR OWN LABOR.

Third Expectation: It takes a lot of money to start.
The reality is that it often takes 10%-25% down to begin investing in real estate. This COULD be a lot depending on your definition of “ a lot,” and also on your area. Buying a property in Los Angeles would be significantly more expensive than in Kentucky, for instance. Where one person might be able to buy a property for ,000 down, someone else might need 0,000.

Fourth Expectation is that it’s often like the TV shows.
The Reality is that it’s NOTHING like what they portray on TV. Oftentimes those TV shows will be loosely scripted around creating drama and creating a show that’s actually interesting enough to watch all the way through. Every episode needs a goal, a problem that arises, a solution to that problem, and then a resolution at the end. The real life problems that come up just aren’t that exciting or interesting. It’s often boring and mundane.

The fifth expectation is that you’ll make a lot of money investing in real estate.
The reality is that oftentimes one property won’t make you rich. Most mom and pop landlords won’t make a lot early on, but as they scale up, they can earn a significant amount of money from a lot of smaller sources. This is how many landlords start making money, enough to quit their jobs and invest in real estate full time. It’s growing your portfolio over one or two DECADES and accumulating those properties that might make you only 0 a month….but buy one of those every 18 months, and in 15 years you’re making 00 per MONTH. That’s how most landlords make their money, and make a LOT of it. But the beginning will be slow and frustrating until you begin adding more and more to your portfolio.

For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness@gmail.com

Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq

Favorite Credit Cards:
Chase Sapphire Reserve – https://goo.gl/sT68EC
American Express Platinum – https://goo.gl/C9n4e3
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Rental Property Investing 101 – Getting Started in 8 Steps

property investment 20 Comments »

Thinking about getting started investing in rental properties?

Looking forward to the wealth and passive income that rental properties can bring?

This video is designed to help you learn the eight steps needed to begin your rental property investing 101 journey. Taught by Brandon Turner, author of “The Book on Rental Property Investing,” you’ll learn how to:

– Make a Plan
– Choose your market
– Build your team
– Figure out Your Financing
– Start getting leads
– Analyze deals
– Offer and Negotiate
– Close and Manage

And much more. Enjoy!

https://www.biggerpockets.com

Check out Brandon’s #1 bestseller, Rental Property Investing, at BiggerPockets.com/RentalPropertyYoutube

The 5 BEST House Hacking Methods

property hacks 40 Comments »

House hacking is the BEST first real estate investment, but not everyone thinks they can do it.

In case your one of those doubters here are 5 different methods of house hacking that can surely fit your scenario.
Video Rating: / 5

House hack: Forget having to make a rent payment or come out of pocket for a mortgage every month. This is exactly how you can essentially live for free by investing in multifamily real estate as a primary residence. Plus – if do it right, you can literally GET PAID to live for free. Here’s how.

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When you already have some savings and want to make the jump to becoming a home owner, one thing most people overlook is multi-family properties. These include duplexes, triplexes, and fourplexes. What makes this unique is that in addition to your unit, you have other units that you can freely rent out which can cover your entire ownership cost of the property. When you buy these properties correctly, your rental income from the other units will cover your entire mortgage, property taxes, insurance and repairs, essentially letting you live in one of the units for free. Not only that, but you can apply the rental income towards your loan, meaning you can often qualify for a much larger loan than normal. You’re also paying down your loan and building equity at the same time.

My biggest recommendation to maximize the rental income is to look for vacant multi-family buildings that need cosmetic upgrades. This means you can immediately begin updating the property when you buy it – new floors, paint, bathrooms, landscaping are all cheap and make a significant improvement for rental income.

Now of course, there are downsides of doing this. First of all, you will have to manage tenants and that can be a part time job in and of itself. You will also have some shared common areas – it’s not any worse than an apartment, but you will be in close proximity with your tenants. It’s not for everyone.

But the good news is that when you’re ready to buy a house or upgrade, you can rent out your unit and you have a great cash-flowing rental property for you to keep long term. Essentially when this is paid off, it could be your retirement money that keeps cash flowing month after month. Or, you can live there long term and bank as much money as you can knowing that you don’t have be out of pocket every month for housing payments.

Add me on Instagram: GPStephan
Add me on Snapchat: GPStephan

Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq

Tips and Advice Every New Real Estate Agent Needs to Know | #TomFerryShow

real estate advice 40 Comments »

This is a special show with success tips for new real estate agents who have been in the business for less than five years.

Today I’m featuring two highly successful agents both revealing their stories, their tips, their regrets, the mistakes they made.

All in the name of sharing their best advice for new agents.

Learn More: http://bit.ly/2wv25xD

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The #TomFerryShow is here to help real estate professionals stay ahead of the curve to always be innovating, changing, adjusting, staying as relevant as possible with the very best tools, the right-now strategies, and the things that are working today for rock star agents!

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