[LIVE Training] Understanding the Foundational Pieces of the Buying Journey
Release Date: 10/25/2019
Quick Announcements: The Podcast is Coming Back
The RentalRookie Podcast
Emily shares two quick announcements regarding the return of the podcast and an upcoming virtual investing summit that you can attend for free.
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Show164: How we Doubled our Unsecured Line of Credit
The RentalRookie Podcast
Lines of credit can be a great financial strategy when it comes to financing rental property. Whether it be a HELOC, secured line of credit or unsecured line of credit it allow you some flexibility to acquire property. What is an unsecured line of credit? An unsecured line of credit is a revolving account that allows you to draw and repay based on your need for the money. What's great about an unsecured LOC is that you don't have to put any...
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Show163: This is Your Year...Chase Your Dreams
The RentalRookie Podcast
Yep....not just a new year...it's a new decade. And with that comes excitement and inspiration and motivation. It's like you wake up one morning a totally changed and motivated individual.... because that's what happens. We go to bed on December 31st every year and wake up a new person the next morning. Right? I'm here to tell you that this year.....is your year. Stop letting your fears get in the way.... Stop letting what other people think about you get in the way... Sit down and take control of your life and where you want to go. Be intentional about what you want your like to look like....
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Show162: 4 Things to Kick off Your Investing Journey
The RentalRookie Podcast
We've made it to the end of our 12 days of Christmas and I hope I've inspired and motivated you to kick some butt in 2020. So to end our 12 day long focus of learning about investing in real estate I'm giving you 4 things to do right now to jumpstart your journey toward buying that first property. !. Do a financial audit of your finances Take a look at everything. Calculate you total monthly income (include work income, side job incomes, child support, etc. ...
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Show161: Overcoming stage fright with investing
The RentalRookie Podcast
It's the 11th Day of Christmas Stage fright. Have you ever felt this? When you've worked so hard at something (dance, piano, athletic event, choir concert) you've put your blood, sweat and tears into really mastering the skill so you can perform well. And you get to the event…..and your slammed with stage fright. It can totally inhibit your performance. Fill you with anxiety and fear, Even when you know you've done the work to get out and do your best. Some of us can push through and face that stage fright head on ….. …while others can't. I see this same 'stage fright' happen with newbie...
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Show160: Tax benefits of buying rental property
The RentalRookie Podcast
We are about to kick off a brand spanking new year. And if you already own a rental property but have not kept track of your tax deductible items for investing in rentals now's the time to clean that side of the business up. If you're coming in hot to 2020 ready to buy your first property…then knowing the things you should be keeping track of from the start will make your life 100x more easier when it comes time to do your taxes. ----Tax time of the year can be such a drag for a lot of people. Although it is a time to financially reflect on your year, it also is a time that can cause a lot...
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Show159: The importance of tenant experience
The RentalRookie Podcast
It's the 9th day of Christmas and it's my birthday!! And in the spite of gift giving in receiving I want to talk about tenant experience and how providing tenants with unexpected gifts can be huge in having proud, loyal tenants. Think about it. We put a lot of effort, time and money into buying these investments and we want to have a great experience ourselves so we need to have our tenants have a great experience. How do we do this? We have welcome packages for our new tenants. We provide new tenants with a welcome gift. It could be a gift card, welcome flowers, a gift basket of items you...
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Show158: Running numbers on properties to ensure it's a good deal
The RentalRookie Podcast
What is awesome about investing in real estate is that we know before we ever close on a deal and sign the dotted line whether a property is a good deal. The process of buying rental property is in a lot of your control. Which either… A. people love because they like control or B. scares the daylights because they don't want to be responsible for the make or break of their financial investment. And a big part of this comes down to knowing how to run numbers. Knowing how to determine the return on investment that a property is going to yield you. Knowing how to property find and estimate...
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Show157: How do I find good deals on rental property?
The RentalRookie Podcast
Guess what….I love to travel. IT's my passion…it's my jam. So I subscribe to many different email newsletters dedicated to travel. Travelzoo, Sherman's Travel, Hotel Tonight, you name it I'm on it. And I don't just let those email go to my junk email address and not read them I know what days those emails come out every week and I look for them in my email inbox week in and week out. WHY? Because I want to see what the deals are this week. Are there any that we want to jump on and schedule for the upcoming year. I once was able to get Kirk and I RT flights to Denver for about $170 per...
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Show156: Running a Rental Market Audit
The RentalRookie Podcast
Running a rental market audit is critical to your success as an investor.
info_outlineThe journey to buying that first rental property is no doubt a bit scary.
When you actually commit to stepping out of your comfort zone and seriously tackle the endeavor you can find yourself a bit lost and confused and overwhelmed.
While there are a number of things that you need to be aware of and learn about the journey to that first rental property (which we cover in our Rental Property Roadmap) there are foundational pieces of the process that are a bit more critical than others.
I'm not discounting any part of the process here; however, I want to draw your attention to the areas that I have found are the ones where you need to spend extra time understanding so that you can set yourself up for major success.
In this LIVE training that I recently hosted I break down those four pillars and talk about how they impact your journey.
We talk about #1 MINDSETand how your view and understanding of wealth has been shaped since you were a kid.
And how if you associate negative things with money and wealth you are ultimately self-sabotaging yourself from finding it.
Wondering why you haven't bought that property yet.....there's one answer!
Next, we move into talking about #2 Financingbecause 8 out 10 newbie investors have this as an obstacle they have to overcome to buying that 1st property.
So we break down two strategies that are great ways for newbie investors, who don't have a ton of cash, to use so they can make that a reality.
#3 Understanding Your Market...this is my favorite and to me the most important piece of the puzzle.
This is where confidence is built and knowledge is truly mastered.
When you know your market you know how to spot good deals which ultimately makes a force in the investing world.
Lastly, I touch on #4 Analyzing Deals the next most important piece of the puzzle. As this is where you know before you every buy a property whether it will make you money.
That's what's awesome about real estate.
You can know before you buy the deal that it will cash flow you so much each month.
But you have to know how to run the numbers and what your ROI goal is.
So we cover A LOT in this training to help you continue kicking over dominos on your journey.
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