Even after doing hundreds of deals, something still scares me about real estate. But before I share my biggest fear with you, let me give you a little background. I’m going to try my best to relate it to those who have only done a handful of transactions so far as opposed to the seasoned
What makes a good employee? A good entrepreneur? Good employees are obedient and willing to work hard at projects given to them by someone else. They accept a cap on their income in exchange for stability, predictability, and routine. Good entrepreneurs are a different breed altogether. Creativity? Check. Self-discipline and motivation? Check. Independence? Courage to
By Rachel Adams Lee I would bet that at some point in your career, you’ve questioned whether or not you should build a team. Maybe you’ve already embarked on your journey. Maybe you’re working three transactions to many and are thinking, “At what point do I get help? And is help really all I want,
As co-host of the BiggerPockets podcast, I have the privilege of speaking with successful investors on a weekly basis. Brandon Turner and I dive deep into their stories and noticeable patterns tend to emerge. Among many of those who have seen success, there’s a common denominator: they got their start house hacking. What is House
No matter which way you slice it, you’re in the business of turning a profit. You didn’t become a landlord as some saintly act of giving back to society. You did it because you want to put your money to work and generate income. Unfortunately, you may be making costly mistakes that are killing your
Want to keep more of your hard-earned dollars in your pocket? Making sure you are maximizing tax deductions on your rental properties is one of the best ways to do that. Stessa teamed up with top tax strategists over at the Real Estate CPA to bring you the top tax deductions for rental owners. We
Want to know what I believe is the single most critical driver behind my success (if you want to call it that)? Whether it’s staff, people I coach and/or mentor, or just friends, there’s one insanely powerful tool I share with all. It’s a tool that not only creates a mind-bending “Aha!” moment, it’s literally
Awesome show alert! Today’s guest is so full of information you will be blown away. Aaron Amuchastegui sits down with Brandon and David and explains how he buys 20 deals a month while practicing principles of the four-hour workweek. It’s an incredible story about how he built a big business with foreclosures, how he keeps
The other day, I was watching CNN. There was a report stating that 40 percent of Americans do not have $400 saved for emergencies. I can’t say it’s shocking—so many of us are living paycheck to paycheck with no credit—or even bad credit. Having a savings account (and stashing money in it!) is absolutely imperative.
This is part two of a series of posts I’ll be writing about investments in vacation rentals. As I mentioned before, the vacation rental industry has rapidly evolved in recent years—largely due to advances in technology. These changes have affected market cycles in investments in single family residential homes (SFRs). And, as it turns out,
Dust off your vases, pitchers and mugs — your home will be overflowing with fresh-cut blooms in no time. Have you ever ended up with a bed of dead flowers, mountains of mulch and a whopping garden center receipt? Let’s do something about that, shall we? Get your gardening groove back with these nine tips.
Expand your shower options to the great outdoors — it’s easier to do than you might think! Outdoor showers may seem like a luxury — something that only those with beach houses would need or be lucky enough to have. But an avid gardener, runner or someone that enjoys the freedom of bathing in nature,
Is it smart to partner with a friend on real estate deals and real estate businesses? Partnering up can be a great thing in real estate. You can partner with others for a short time on specific deals. Or you can align investments together with others for the long haul. Or you could even go
FHA loans are, in my opinion, one of the absolute best ways to get started in buy and hold real estate. As I’ve noted before, they’re a particularly great place to begin for “save and hold” investors, as they can finance 96.5 percent of the price of a deal at very low interest rates for
You may have heard of hard money lending. However, most of the people who walk through my office don’t know why or how these loans are able to be secured and distributed so quickly. This article will cover the details of why and how hard money loans work, with insights from a lender. What Is
Having done hundreds of lease purchase deals—most of them whereby we stay in the middle or our partners stay in the middle, called a sandwich lease—I’m asked weekly how the deal actually cashes out at the end. So, I wanted to share some thoughts and simplify the process for those who are curious. What’s a
Who needs the spa when your bathroom looks like this? A good spring shower leaves the earth feeling refreshed and renewed — which is not unlike a good shower in your own home. A well-designed and polished bathroom can invigorate you in the morning or relax you before bed. These 10 bathrooms in for-sale homes
I can assume since you’re reading this post that you’re interested in being an entrepreneur. But is it right for you? Entrepreneurship is one of the sexiest words being thrown around in many circles today. Everyone thinks they have the next product or service that will revolutionize how we do things. There are tons of
I love technology, and finding new and more streamlined ways to use it to do everyday tasks is fun for me. My banking, accounting, calendar, communication, task management, project tracking, and hard money loan underwriting are all done electronically. I’ll move as many other tasks as I can to an electronic system. I scan in
Do you worry about your finances frequently, yet don’t do anything to change the situation you’re in? These small steps will help you get to a place of financial security. 5 Steps You Can Take TODAY to Become More Financially Secure 1. Write down your top 3 financial priorities. To start, write down EVERYTHING that
Steven Donovan graduated from high school and went to college—because that’s what you do. He graduated from college but got cold feet when it came time to get a “real job.” So, he bounced around random jobs with no plan and no focus. Despite his degree in finance and about $60,000 in student loan and
This one’s probably not going to be too much of a shocker to too many people. What’s the biggest mistake I made when I first started out as a landlord? Hands down: I didn’t screen well enough. Early on when beginning in real estate in Kansas City, there was this unmistakable fear that would come
You’re ready to buy. You’re searching for deals—but can’t seem to find any! What now? Well, I’m sorry to say that you’re out of luck—there is no available inventory in the U.S. right now. I’m kidding, guys! Try Looking Elsewhere I’ve always said that there is no bad piece of real estate as long as
Rental property is typically the first type of real estate that a new investor looks at when trying to build wealth and diversify a portfolio. But many get discouraged when they realize their credit score doesn’t exactly qualify as “excellent.” If your credit score is low, does that mean you can’t invest in real estate?
For all its advantages, real estate comes with a risk: mistakes are expensive, because properties are expensive. I’ve made bad stock investments for $1,000 and lost my $1,000. But the stakes are higher when you’re working with assets worth hundreds of thousands of dollars. Fortunately, you don’t have to learn by making your own mistakes.
As someone in the cost segregation industry, I have heard my fair share of misconceptions about it. It’s a complicated tax strategy—I get it! What’s unfortunate is that sometimes those misconceptions can deter folks away from cost segregation, even though it could make sense for them to use it. My advice? Don’t leave money on
Evaluating a property is one of the most important aspects of real estate investing. However, many new investors don’t have a lot of money to spend on fancy analytical tools. Luckily, most of what you’ll need is available for free if you know the right places to look. Here are some of the best free
The other day I was driving in my car listening to the radio and an advertisement came on about a certain popular real estate investor coming to town to teach a free seminar about building wealth through real estate. “It’s 100% free to attend!” the advertisement said. I’m sure you’ve probably heard these ads, as
This is part one of a series of posts I’ll be writing about investments in vacation rentals. The vacation rental industry has rapidly evolved in recent years. What’s driven this change? And which investors are thriving in the space? It’s an area in which I’m deeply invested (both literally and figuratively), and therefore, I’ve thought
Small kitchens can be a challenge. Use these tips to set up a kitchen that lets your inner chef shine. Many homes come with kitchens that are less than ideal. The lighting can be terrible, the appliances old, the floors grimy … and counter space? Well, that’s a nice idea. Get the most out of the kitchen space