If you’ve been hunting for deals for any amount of time, you already know that the game has changed quite a bit in the last couple years. The competition for deals has skyrocketed, while inventory has remained relatively low. This has created pressure on owner-occupants, as investors show up with cash to get REO and distressed […]
So, This Old House is practically a religion at my house. My wife refers to Norm Abram as “Uncle Norm”. You could imagine how excited we were when we found out they released the entire catalog of shows as part of a paid ‘insider’ deal. It’s in beta at the moment, so that means it […]
REALCOMP rolled out its RCO3 platform a couple years ago now, and I have to admit it’s rapidly become my favorite of the MLS platforms. It’s fast, powerful, and can do some very interesting things that you might not be aware of. In this video, I go over how you can set up custom displays […]
As I grow my portfolio, I’m seeing some of the “rules” I’ve studied about real estate investing come to life more and more. When I first started adding rentals, I read about the “50% Rule” on several blogs, books, and courses. It always seemed high to me, and clearly, because I was so intrinsically awesome, […]
I’ve recently been doing a lot of REO work and building relationships with asset managers from troubled banks to find investment properties for myself and my clients. There are a ton of tricks I’ve learned as far as accessing these key assets, and one of the most powerful tools I’ve come across is free and […]
Capital expenses are the big budget items that you have to consider when you’re analyzing a potential rental. These heavy ticket items can dramatically alter your great deal and turn it into a dud really quickly. Capital expenses (or improvements) can be: New Roof Replacing Boilers, Furnaces, or AC units Major Electrical or Plumbing Work […]
When you’re looking at a potential rental property, one of the biggest variables to effectively analyze are the costs of ownership. If you get those wrong, you could find yourself trapped in a negative cash flow situation. If the listing agent or seller of a property gives you a P&L, that’s a good starting point, […]
I was combing through the State of Michigan site the other day and I came across this great little PDF that covers a ton of information concerning Michigan’s laws relative to Landlord-Tenant relationships. Since state sites are notorious for information moving around, I just reposted it here so it won’t disappear into the lost vault […]
Tommy explains the details of a financial tool known as the SDIRA, or, Self-Directed IRA. This tax deferred option allows passive real estate investment in rehabs or rentals, and is a great way for investors to get involved in real estate investing using funds they wouldn’t normally have control over.
Tommy explains what a HUD property is, and the process of bidding and acquiring an investment property from HUD.