417: Laptop Landlords
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 3 October 2022
⏱️ 38 minutes
🧾️ Download transcript
Summary
You want to increase your expenses. I reiterate why.
All five ways that real estate pays are rarely surging at the same time. In the past year, appreciation has slowed, cash flow rose, principal paydown slowed, tax benefits are roughly the same, and inflation-profiting rose.
How do you become a “laptop landlord” and know that you’re buying a good property?
I share my favorite resources for real estate due diligence (laptop landlording). They’re all in the “Resources Mentioned” below.
One mistake people make is that they tend to overgeneralize. They paint an entire city one color, saying something like: “I read that Memphis has high crime.” Well, where within Memphis?
You can contract with an out-of-state stranger to check out a property for you at WeGoLook.com
Aundrea Newbern, COO of GRE, MBA, NAR member (the woman with all the letters behind her name) joins me. She discusses her top real estate successes and failures.
We discuss floods, old cast iron pipes, partnerships, single-family vs. multifamily, LTRs vs. STRs, and the opportunity cost of waiting to buy property.
At times, if third-party inspectors see an issue, they refer you to specialists like foundation or mechanical inspectors.
Resources mentioned:
Show Notes:
Due diligence resources: ATTOM Data Solutions, Redfin, CoreLogic, Zumper, Altos Research, John Burns RE Consulting, Neighborhood Scout, Google Street View, WeGoLook.com, bls.gov, US Census, FRED, GREmarketplace.com
I’d be grateful if you search “how to leave an Apple Podcasts review” and do that for this show.
Get mortgage loans for investment property:
RidgeLendingGroup.com or call 855-74-RIDGE
or e-mail: [email protected]
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www.jwbrealestate.com/gre or (904) 677-6777
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Available Central Florida new-build income properties:
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Transcript
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| 0:00.0 | Welcome to GRE. I'm your host Keith Weinhold laptop |
| 0:03.6 | landlording. How do you really know if an income property that you're buying is in the |
| 0:07.9 | right market and neighborhood and how do you make sure that you don't end up with a |
| 0:11.2 | losing property? It's an episode more geared toward beginner and intermediate |
| 0:15.6 | investors today. Then an in-house chat with our own Andrea as she admits her |
| 0:20.4 | worst real estate investing |
| 0:21.7 | mistakes and her wins today on Get Rich Education. |
| 0:28.8 | GRE listeners can't stop talking about their service from Ridge Lending Group and |
| 0:33.3 | MLS 42056. |
| 0:35.1 | They've provided our tribe with more loans than anyone. |
| 0:37.9 | They're truly a top lender for beginners and veterans. |
| 0:41.1 | It's where I go to get my own loans for single-family rental property up to four plexes. |
| 0:46.4 | So start your pre-qualification and you can chat with President Chaley Ridge personally. |
| 0:51.2 | They'll even deliver your custom plan for growing your real estate portfolio, |
| 0:55.6 | start at Ridge Lending Group.com. |
| 0:59.7 | If you're looking to grow your passive income from real estate, pay attention. |
| 1:03.8 | My Property Stats is a deal analysis tool developed by an active investor to cut the time |
| 1:08.7 | it takes to analyze any deal by over 90%. For any real estate class, |
| 1:14.3 | you can calculate the exact price to pay to hit your cash flow and IRLR goals. Build a world-class |
| 1:20.8 | pro forma. Calculate the most you should pay for a renovation, run multiple scenarios with a comparison |
| 1:26.6 | tool and more. My property stats is the all-in-one |
| 1:30.7 | toolkit for real estate investors. That means more deals, more cash flow, and more returns. |
... |
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