Hi, Reader! One of the most important parts of starting and growing a real estate portfolio is the ability to finance properties. When done correctly, financing properties can be beautiful. The investor receives all of the tax, cash flow, and appreciation benefits of the entire property, but they only have to bring a portion of the money. There is a lot to know about financing, and after financing 30+ properties I feel like I have some insight to offer others. There are lots of creative ways...
about 2 years ago • 7 min read
Hi, Reader! My newsletters this summer have focused on some tactics that helped me to quit my W-2 job as a teacher in order to be a full-time real estate investor. These tactics don't just move the needle a little; if executed correctly, they're complete life-changers. First, I told you about house-hacking. This involves renting out part of your personal home, often completely covering your mortgage payment. Next, I told you about the runway fund. In short, a runway fund is saving up 12...
about 2 years ago • 4 min read
Hi, Reader! In November 2018, it became clear to me that quitting my teaching job to pursue real estate full-time was my only way forward. There was no other option. I was in the midst of an awful school year, and I was beginning to understand that a teaching salary would simply not meet the goals that my wife and I had. I had to make a change. I know you have big goals. And maybe, like me, you're realizing that your W-2 job might just be standing in the way of reaching those goals. You've...
about 2 years ago • 5 min read
Hi, Reader! Many people are pursuing real estate so they can make big changes in their life. For some, it's completely quitting their W-2 job. For others, it may be scaling back their W-2, pursuing a W-2 they feel more passionate about, or starting their own business. I was no different. Once I realized I could actually make decent money investing in real estate, I had the goal of completely quitting my W-2 as a special education teacher. While some might spend a decade or more plotting their...
over 2 years ago • 4 min read
Hi, Reader! Last week, I told you that some of the best deals I've ever done were purchased off-market and direct to seller. These are value-add deals, where I negotiated directly with the owner and faced zero or little competition from other buyers. Sounds great, right? It can be, but buying off-market isn't all roses. It can be extremely time-consuming, and there are plenty of moments where you feel like you're wasting time banging your head against the wall. So, let's get into it. Here are...
over 2 years ago • 4 min read
Hi, Reader! Of the 30+ deals I've owned, there's no question that the best ones were purchased off-market. Off-market. It's become a catch-phrase in the real estate industry, and it's suppose to signal that THIS IS A GREAT DEAL! It's a phrase that's used - and overused - a lot. So what exactly are we talking about when we say off-market? Let's get into it. I have hundreds of unread emails sitting in my Promotions tab of deal listings that have been blasted out by brokers. Occasionally, I'll...
over 2 years ago • 3 min read
Hi, Reader! When I was in the early stages building my real estate business, things were wire-to-wire. By things, I mean everything. And all the time. It was selling one deal on a Monday, and using that same capital to buy a new deal on Wednesday. It was the plumber trimming out the fixtures in the morning, and the photographer taking listing photos in the afternoon. It was getting under contract for a new deal and not knowing how I would pay for it. It was cleaning an apartment on Friday for...
over 2 years ago • 4 min read
Hi, Reader! My 4 year old has recently discovered Charlie Brown books. Outside of the classic Thanksgiving and Christmas TV shows, I was never big into Charlie Brown as a kid. So, I'm experiencing his world as a bit of a newbie. In one book, Charlie Brown decides to enter the school spelling bee. He has some reluctance, but the more he thinks about it, the more he kind-of, sort-of starts to believe in himself. His friends - the people that know him the best - discourage him. "You're crazy....
over 2 years ago • 2 min read
Hi, Reader! As a real estate professional, do you ever get asked the question: So, how's the real estate market? It's basically impossible to answer succinctly. The answer is always it depends. What asset class? Are you a buyer or a seller? Are you looking for cash flow or appreciation? What's your debt like? What else is your money doing if not in this deal? Smaller deals or institutional-size deals? I'm making offers in various parts of the country and trying to sell another property. I...
over 2 years ago • 3 min read