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_outlineWith every new year comes the excitement of a fresh beginning…
…a new start…
…a new you.
Right….many of us sit down and make audacious goals about what we want to accomplish in the new year.
And trust me…Kirk and I are here for it!
We LOVE sitting down and talking about what we want to accomplish in the new year
and looking back on what we accomplished the previous year.
We actually used to get made fun of by much of our family for not just setting goals but creating action steps that actually helped us reach our goals!
My mom will still joke to me on the phone about her action steps for the day when she's trying to tackle cleaning her house!
But anyways…the truth is there is a lot of power in fresh starts and goal setting.
At the same time, it becomes pretty easy to lose sight of those goals 30-60-90 days into the new year.
You know what I mean.
For anyone who is a gym rat throughout the entire year (this is me) you know how frustrating it is to walk into the gym on Jan 1 and in fact most of the month of January to find the equipment that usually is empty you now have to wait in line to use…
Yep….and while it's sooo frustrating for the regulars usually by mid February it all goes back to the typical regulars who are always there day in and day out.
But this is what happens.
Yes, you need to create long term goals for the year.
But you need to create shorter, more measurable goals (action steps, sprints) that you can use to keep you on track toward actually reaching your goals.
Otherwise….hello empty elliptical.
In applying this to your real estate investing journey you need to give yourself timelines for what you want to achieve.
Kick off 2020 with the goal of buying that 1st rental property or saving a certain amount of money for a down payment.
And create monthly and bi-weekly check ins that you can use to keep yourself on track.
To help with this I've included a 3 month goal calendar that you can print out and use so that you don't lose sight of buying that 1st rental property in 2020.
Click here to download it now!
So set some goals, create some measurable action steps and start building momentum to a great 2020.