311: Get Ready For The Bidding Wars with GRE's Aundrea Newbern
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 21 September 2020
⏱️ 39 minutes
🧾️ Download transcript
Summary
What does the CDC eviction ban really mean to you?
Learn how to win home price bidding wars in today's hot market.
GRE's own Aundrea Newbern joins us!
Besides working with GRE, Aundrea is an active RE agent in Brunswick, GA. She owns 28 rental doors and has her MBA in Finance.
She owns long-term rental SFHs and apartments, including some Section 8 tenants. She self-manages.
Rock & Roll Hall Of Famer Flavor Flav "drops in" to congratulate the show on 3 million listener downloads.
Aundrea tells you nine ways to avoid being outbid in today's hot real estate market:
1 - Pick a buyer agent that's courteous to the selling agent.
2 - Write a letter or send a video to the seller.
3 - Agree to use the seller's preferred title agent, lender.
4 - Offer more than the asking price.
5 - Offer more earnest money than the customary 1-2%.
6 - Add an escalation clause.
7 - Simply ask what it takes to get your offer accepted same-day.
8 - State that you'll pay out of pocket in case there's a low appraisal.
9 - Consider waiving the inspection. (This is risky.)
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Resources mentioned:
CDC Eviction Moratorium:
https://www.nytimes.com/2020/09/16/business/eviction-moratorium-renters-landlords.html
Aundrea Newbern email:
Aundrea@GetRichEducation.com
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Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Weinhold. What does this CDC eviction ban really mean to you? Then an in-house discussion on the specific tactics you can employ to make your real estate purchase offers stand out above all the other offers in today's tight housing market today on Get Rich Education. |
| 0:21.9 | Most runner property investors choose either positive cash flow or home price appreciation, |
| 0:26.8 | but one real estate market can provide both Jacksonville, Florida, with 9% lower home |
| 0:32.5 | prices than the national median, 1% higher gross rents, and Jacksonville has appreciated 34% more than other comparable |
| 0:40.6 | cash flow market since 1991. Get positive cash flow today and appreciation for tomorrow |
| 0:46.6 | to invest for cash flow and growth in Jacksonville. Go to cashflow and growth.com. |
| 0:54.7 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:02.1 | This is Get Rich Education. |
| 1:05.2 | Thank you. Welcome to Gare from Montpellier, France to Montpelier, Vermont, and across 188 nations worldwide. |
| 1:23.9 | I'm Keith Weinhold. |
| 1:25.9 | This is Getress Education when the CDC, the Centers for Disease |
| 1:29.5 | Control, announced a rent eviction moratorium for the rest of the year through the Trump administration. |
| 1:36.3 | A lot of people, perhaps you included, thought, what? A disease center can just cancel rent? Well, |
| 1:44.0 | no. Rent is not canceled for the rest of the year. |
| 1:47.9 | It might have only sounded that way. So can landlords still evict non-paying tenants in the United States? |
| 1:55.4 | The answer is yes, they sure can. But there is generally a halt to COVID-related evictions through the end of the year, |
| 2:03.8 | through December 31st. Despite the big headlines, it only applies to tenants that specifically |
| 2:09.5 | cannot pay rent due to COVID. So be mindful that despite higher unemployment, most tenants do still have jobs to qualify for protection |
| 2:21.2 | against eviction. What a tenant would need to do is fill out a declaration form and prove that |
| 2:28.2 | they are at risk of being evicted and show a judge that they try to get government help as well. So a tenant has to prove |
| 2:36.6 | hardship. They even have to show that an eviction would render them homeless or having to sleep |
| 2:42.5 | on someone's sofa, basically. Evictions for reasons other than not paying the rent, they can |
... |
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