Podcasts about 203k

A real estate license isn't just for selling homes. It's a whole launchpad…if you know how to use it right.  If you're a great agent, you're doing way more than unlocking doors and writing offers.  You've got skills that can help you stand out and stack your income. In today's market, the old playbook won't cut it.  Inventory is tight, interest rates are still high, and the NAR settlement changed the game. Agents who stick to business-as-usual are getting left behind.  It's not just about closing deals anymore. It's about thinking bigger, leveraging your skill set, embracing tech tools like AI, and getting creative with things like expired listings and renovation loans.  Everyone's got access to the MLS… but what you do with it?  In this episode, I'm breaking down exactly how I turned one real estate license into a six-figure, multi-stream business. You'll hear how top producers are using AI to revive expired listings, bring real value to sellers, and guide buyers with smart financing options like the 203K loan.  With limited inventory and high interest rates, we have to think creatively to get people off the bench. -Marki Lemons Ryhal   Things You'll Learn In This Episode The skill stack strategy How do you leverage one real estate license into a business that includes teaching, speaking, and consulting? How to elevate expireds What's the secret to turning expired listings into signed clients using AI-powered visual tools? Value that speaks louder than scripts Why do styling guides and tech-based insights beat any sales pitch and get homeowners to call you back? The 203K Advantage How can you use renovation loans to create urgency, secure offers, and add more value in buyer conversations?   About Your Host Marki Lemons Ryhal is a ​​Licensed Managing Broker, REALTOR® and avid volunteer.  She is a dynamic keynote speaker and workshop facilitator, both on-site and virtual; she's the go-to expert for artificial Intelligence, entrepreneurship, and social media in real estate. Marki Lemons Ryhal is dedicated to all things real estate, and with 25+ years of marketing experience, Marki has taught over 250,000 REALTORS® how to earn up to a 2682% return on their marketing dollars. Marki's expertise has been featured in Forbes, Washington Post, http://Homes.com , and REALTOR® Magazine.   Check out this episode on our website, Apple Podcasts, or Spotify, and don't forget to leave a review if you like what you heard. Your review feeds the algorithm so our show reaches more people. Thank you! 

For home inspectors (especially with construction backgrounds) 203k consulting might be the perfect way to expand your business while helping buyers transform fixer-uppers into dream homes.As a 203k consultant, you become the linchpin of successful renovation projects. The process begins with a comprehensive property inspection to identify minimum FHA requirements, then expands to include client renovation wishes. You'll create detailed specifications of repairs with line-by-line cost estimates, evaluate contractor bids, and perform regular draw inspections to ensure work meets standards before payments are released.The financial rewards are substantial—consultants earn $500-2000 for initial specifications and $375 plus mileage for each draw inspection. For those with solid construction knowledge and estimating skills, the hourly rate often exceeds standard home inspection fees. But perhaps the greatest reward comes at project completion, when you've helped transform "the worst house on the block" into something beautiful.Ready to expand your inspection business? If you have construction experience, consider applying to HUD for a consultant ID. With many markets experiencing a shortage of qualified 203k consultants, this specialized service could become your most satisfying revenue stream.Check out our home inspection app at www.inspectortoolbelt.comNeed a home inspection website? See samples of our website at www.inspectortoolbelt.com/home-inspection-websites*The views and opinions expressed in this podcast, and the guests on it, do not necessarily reflect the views and opinions of Inspector Toolbelt and its associates.

Bill welcomes Matt Porcaro, creator of the 203K Way. Matt transitioned from corporate America to full-time real estate investing, starting with a 3.5% FHA loan and turning $9,500 into $130,000 in equity. He dives into the details of the 203K Way, an FHA loan program that allows for purchasing and renovating properties with minimal down payment. Matt shares his journey from working as an engineer in New York City to discovering this lesser-known, government-backed financing tool, which enabled him to buy a duplex and accumulate significant equity. He emphasizes the importance of owner-occupancy and leveraging low down payment opportunities as a beginner. Despite facing challenges, including long commutes and dissatisfaction with his corporate job, Matt persisted and found success in real estate. The discussion also touches on refinancing strategies, the role of mortgage insurance, and the benefits of house hacking. Matt reveals his current portfolio, flipping houses for active income and holding properties for long-term gains. He provides insights into current market trends, the impact of political uncertainty, and the emergence of accessory dwelling units (ADUs) as a solution to the housing shortage. The episode concludes with a focus on the future of real estate investing and the importance of flexibility and resilience in one's strategy. The host encourages listeners to follow Matt's journey through his coaching program and Instagram, emphasizing the value of the 203K loan as a critical tool for real estate investors. stayfi.com/bill Discount code: BILL https://www.marketmystr.com/ ➡️ Connect with us: • Join Our Facebook Group: https://www.facebook.com/groups/284886002732508  • Check Out Our website: https://buildstrwealth.com/  • Bill's Instagram: https://www.instagram.com/billfaeth73 • Brea's Instagram: https://www.instagram.com/breafaeth/  • TikTok: https://www.tiktok.com/@bfaeth  On Bill Faeth Unfiltered, Bill Faeth breaks down the ins and outs of short-term rental hosting, giving listeners actionable advice that they can use to take their businesses to the next level. Subscribe/Follow so you never miss an episode! #BFUnfiltered #BillFaeth #STR Learn more about your ad choices. Visit megaphone.fm/adchoices

After four years of trial and error with various strategies to break into real estate investing, Matt Porcaro discovered a little-known government-backed renovation loan that allowed him to purchase and renovate a duplex with only a small out-of-pocket investment. Using this strategy, he turned a modest $9,500 down payment into $130,000 in liquid equity and $2,000 a month in passive cash flow—all in just eight months. After repeatedly being asked by friends and family how he did it, Matt decided to create a community focused on leveraging this loan and developed a strategy he named The 203k Way™. Since then, he's helped hundreds of aspiring investors acquire their first or next cash-flowing, high-equity investment property with only a 3.5% down payment, all by utilizing this unique loan product. But it doesn't stop there. The first 203k deal not only helps his students achieve immediate equity and cash flow but also serves as a springboard to even more opportunities, helping them launch successful real estate investing careers—just like it did for Matt.   During the show we discuss: 203k Loan as a Game Changer for New Real Estate Investors Perception of the 203k Loan Being "Hard to Do" and How to Streamline the Process Items Required for a 203k Loan Turning a $9,500 Down Payment into $130,000 in Equity and $2,000 in Passive Cash Flow Using the 203k Loan Details of 203k Loan Limits, Rates, Qualifications, and Property Eligibility Steps to Create Significant Equity with a Small Down Payment Finding Deals Perfect for the 203k Strategy and Ideal Property Types Building a Team of 203k Professionals to Navigate the Loan Process Launching a Real Estate Investing Career with Your First 203k Deal Advice for First-Time Real Estate Investors Using the 203k Loan   Show resource/s: https://www.the203kway.com/home

Have you ever wondered how to get government funding for your first investment property? Matt Porcaro of The 203K Way is here to reveal some secret hacks. This guy is an expert at this strategy of using government money to buy your very first investment property. It's a program that very few people know anything about. We're going to spill the beans on this podcast.There's a lot of people listening to this show who are looking to buy an investment property—not necessarily land, but houses, multifamily or something like that. And they're wondering, Where on earth am I going to get the money from? Or they're wondering, Where on earth am I going to get the 20 to 25% I need for a down payment? Here, Matt breaks down these secret loopholes and the great stuff behind these powerful government programs.What's Inside:—How the government can help you buy an investment property—All about 203K loans and how to obtain one—How to connect with Matt and work with his team

Welcome to another episode of Founders Club! On this episode we'll be talking to Matt Porcaro (@The203kWay) about "Real Estate's Best Kept Secret", The 203k Loan.   Connect with Founders Club Host Oliver Graf on Instagram: @OliverGraf360   Welcome to Founders Club! In this episode, host Oliver Graf sits down with Matt Porcaro, an expert on 203k loans, often dubbed "real estate's best kept secret." Matt shares his insights on how these FHA-insured loans can help you finance both the purchase and renovation of a property with a single mortgage. Discover the advantages of 203k loans, learn the differences between standard and streamlined options, and get Matt's top tips for maximizing your investment returns. Whether you're a seasoned investor or just starting out, this episode is packed with valuable information you won't want to miss.   Do me a solid and…   Leave a 5 star review!   Find me on Instagram: @OliverGraf360   Subscribe to my YouTube channel: http://www.youtube.com/c/OliverGrafTV   Get on my VIP email list and get new episodes of Founders Club straight to you inbox: http://eepurl.com/g_L2Ev    Book me to speak: https://olivergraf.tv/speaking   Book a 1-on1 coaching session: https://calendly.com/olivergraf360/vip  

On this podcast of Welcome Home Radio, host Don Scordino spoke with special guests, Isaac Ramirez, with Park Place Real Estate about "Going Beyond the Call of Duty - 203k Loans and How They are Underutilized as well as Efrain Vazquez with Compass Mortgage Team on, "Homeownership and REALTOR's Role in the Process".

FHA's recent updates to the 203K Rehabilitation Program, detailed in Mortgagee Letter 24-13, include increased caps, extended rehab periods, and enhanced options for financing consultant fees, aiming to broaden homeownership opportunities and streamline project management.----------------------------------------------------Alice Alvey, Master CMBVice President Partner Education and Training at Union Home MortgageShe handles development of their World Class Training program designed to support UHM partners and organizational effectiveness.Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U division, Internal QA and Compliance and SaaS technologies. Indecomm acquired Mortgage U in 2013, where Alice was President/Co-founder, providing training and consulting since 1996. Prior to MU she served as SVP of Operations at a national bank overseeing operations for wholesale, retail and correspondent from underwriting through servicing, and compliance.She has been in the trenches of mortgage lending operations from application through servicing for over 30 years. Her authoring work in training content, policies and procedures and the FHA/VA Practical guides illustrates her ability to bridge regulatory requirements with day-to-day operations.Alice has been a weekly contributor to the Lykken on Lending show since its beginning in April 2009 and has made her weekly contributions to 450+ episodes!

In today's episode Craig walks us through the 5 most popular loan types to help determine which one might make the most sense for you. There are the 3% and 5% down conventional, the VA loan, USDA loan, FHA loan and 203K loan. If these are just letters and numbers to you, tune in to see which ones you might qualify for and what the benefits might be. It might also surprise you to hear Craig's perspective on PMI, and why it might actually benefit you in the long run!If you found this episode helpful or you need more guidance on loan products reach out to Craig @thefiguy on IG. 

Investing with Taylor: www.investwithtaylor.com  Stessa to Manage your properties: https://stessa.sjv.io/c/2425882/1152983/14113 Megan Stafford shares her journey from buying her first duplex with a 203K loan to scaling her real estate portfolio to over 2 million dollars. She discusses her creative financing strategies, including partnering with investors and using HELOCs to fund subsequent deals.  She also talks about her approach to flipping properties and the value drivers she focuses on to maximize profits. Megan shares her experience of managing properties remotely and her decision to reduce her unit count to have more freedom and flexibility in her life. Key Takeaways: Megan started her real estate journey by purchasing a duplex with a 203K loan and has since scaled her portfolio to over 2 million dollars. She used creative financing strategies, such as partnering with investors and using HELOCs, to fund subsequent deals. Megan emphasizes the importance of finding good deals and leveraging her network of real estate agents to source opportunities. She focuses on value drivers such as layout, adding bathrooms, and splitting lots to maximize profits in her flips. Megan manages her properties remotely by using technology, maintaining open communication with her team, and making regular visits to ensure quality control. She is currently reducing her unit count to have more freedom and flexibility in her life. Quotes: "I always find the deal first. And then it's like a fire under my butt. I'm like, okay, now I gotta scramble." - Megan Stafford "I guess where there's a lot of fear, there's a lot of opportunity too." - Megan Stafford "I value my time a lot and I want to start cutting back and like traveling more and not having to deal with that." - Megan Stafford

Lauren Schell is a commercial executive producer & entrepreneur. She's made commercials for brands like Nike, Chevrolet and Td Bank and just started her own production company.Started with student debt of over 15k, mounting credit card debt, a low credit score, a terrible relationship with money and at her lowest financial point was making $700/ month and relying on food banks to carry her through the tough times.We reveal how she: Leveraged income leaps  that got her from making $8K/year to $203K/year as a producerHow she created unusual results for herself without burnout in the highly demanding entertainment ifndustryHow to approach and view layoffs, navigating them with easeHow she was able to invent her dream job and the art of creating impossible resultsConnect with Lauren:https://www.laurenschell.com/   Free Live Investing Training

Episode #315 - Join Matt on an inspiring journey from a beginner's mindset to mastering 203K loans and sidestepping common pitfalls. Learn how to unleash your real estate potential even with limited funds, and understand why being fluent in your financing tools is the key to turning your vision into a reality.  

Today's guest is none other than Matt Porcaro, the man leading a revolution with the power of the 203k loan. An engineer by trade, Matt is an expert at figuring out the small details that make big processes function, and he's done just that with the 203k loan. The 203k is notorious for being extremely confusing, which deters a lot of people from harnessing its true power, and what Matt has done with The 203k Way, by simply and consciously explaining the loan, is nothing short of philanthropic. Sell your house, land or commercial property on: https://handsomehomebuyer.com/ Follow us on: TikTok: https://www.tiktok.com/@handsome_homebuyer Twitter: https://twitter.com/handsome_hb Instagram: https://www.instagram.com/handsome_homebuyer/ Pinterest: https://www.pinterest.com/handsome_homebuyer/ Linkedin: www.linkedin.com/in/charles-weinraub-94376116b --- Send in a voice message: https://podcasters.spotify.com/pod/show/charles-weinraub/message

Matt Porcaro is the founder of The 203K Way, a program that helps real estate investors build their portfolios by using the FHA 203K loan. He is a seasoned real estate investor who specializes in fix and flips, the BRRRR strategy, and small multifamily properties, and he is with us on the show today to shed a little more light on The 203K Way.    Listen now to learn how Matt used the FHA 203K loan to propel his real estate investing career to success and how you can learn how to do it for yourself too!   Key Talking Points of the Episode   00:00 Introduction 01:18 Who is Matt Porcaro? 03:01 What is Matt's background? 04:57 How did Matt get into real estate investing? 06:00 What is the FHA 203K Loan? 07:16 How can you use the FHA 203K loan as an investor? 08:37 How did Matt learn more about how the FHA 203K loan works? 09:31 What was Matt's first investment property like? 12:01 How did the FHA 203K loan help Matt make progress in his investing career? 14:04 Why should real estate investors consider utilizing the FHA 203K loan? 16:24 What is the importance of learning to recycle the current real estate inventory? 22:31 How does the FHA 203K loan work? 24:12 What does the process of using the FHA 203K loan look like? 25:33 What is the role of the 203K consultant? 26:08 How can you make sure your renovation works with the FHA 203K loan? 28:42 How do interest rates work with the FHA 203K loan? 29:56 What was the turning point in Matt's career? 32:46 How can the FHA 203K loan make real estate investing easier? 34:12 What is the importance of learning to lead by example? 37:45 What is The 203K Way? 38:32 How did Matt come up with The 203K Way? 41:53 What is the purpose behind The 203K Way? 43:49 What is Matt's advice for investors today? 46:02 How many people has Matt helped with The 203K Way? 47:51 How can you connect and learn more from Matt?   Quotables   “One thing I do know is that we're not gonna be able to build houses fast enough, so we have to learn how to work with the existing inventory in the market and one of the best ways to do this is by using renovation lending.”   “People always wonder why all contractors suck, but it's not that all contractors suck. It's that all people go to the cheapest guy.”    “I think the thing I underestimated the most was getting one deal and how that one deal changes everything so fast. You, all of a sudden, are part of the club.”   “If you can get a good deal, a good deal absolves all sins.” Links   Instagram: The 203K Way https://www.instagram.com/the203kway/   Website: RCN Capital https://www.rcncapital.com/podcast    Website: REI INK https://rei-ink.com/ 

Summary Are you looking to make a shift in your investing, but you've come upon some questions that you're looking for advice on? On this episode, we welcome back Mariah Pierce, PharmD, who reached out to us with a few questions as she prepares to make a shift in her investing. We talk about her new prospective investment options, and we dive into a quick explanation of the FHA 203K loan. We then discuss and share thoughts on her three major questions in preparation for her investment shift. About Today's Guest Mariah Pierce, PharmD is a managed care pharmacist and works at a health plan in central Illinois. She is the co-founder of MeRiah Transportation and hopes to start many other ventures in the future. She enjoys all things business, audiobooks, and has a love for entrepreneurship. Mariah is an out-of-the-box thinker finding ways to make money and make a difference. Links Mentioned in Today's Episode Mariah Pierce on LinkedIn YFP REI Episode 30: Short-Term Rental House Hacking Your Financial Pharmacist YFP Real Estate Investing Facebook Group  

After 4 years of trying and failing at multiple different strategies to break into real estate investing, Matt Porcaro learned about a little known government backed renovation loan that allowed him to purchase and renovate a duplex property for only a small amount of cash out of pocket.Using this strategy, he managed to turn a small $9,500 down payment into $130k in liquid equity and $2k a month passive cash flow... in just 8 months! After being asked constantly by friends and family on how he did it, Matt created a community dedicated to leveraging this loan, and introduced the strategy called “The 203k WayTM”.Since creating the community...he's helped 100's of aspiring investors get their first or next cash flowing, high equity investment property - with only a 3.5% down payment by leveraging this unique loan product.But it doesn't stop there! Not only does the first 203k deal help his students achieve immediate equity and cash flow returns, but it acts as a catalyst to open the door to even more deals, and launch their real estate investing careers - just like it did for Matt. Sign up for Minute:Pages using code

In a departure from our usual discussions on getting your first wholesale real estate deal and becoming an investor without a penny, this insightful episode with Matt Porcaro, the founder of 'The 203k Way', takes a deep dive into using your 9-5 income to fuel your first real estate investment. Matt illustrates the power of the FHA 203K loan, revealing how he transformed his regular income into a stepping stone towards long-term property investments. This episode explains how you can buy a fixer-upper and finance the repair costs as well with an extremely low down payment for those without a lot of cash. David's Social: @dleckohttps://www.dealmachine.com/podRyan's Social: @heritage_home_investmentshttps://www.heritagehomeinvestments.com/Matt's Social: @the203kwayhttps://the203kway.com/

After 4 years of trying and failing at multiple different strategies to break into real estate investing, Matt Porcaro learned about a little known government backed renovation loan that allowed him to purchase and renovate a duplex property for only a small amount of cash out of pocket. Using this strategy, he managed to turn a small $9,500 down payment into $130k in liquid equity and $2k a month passive cash flow... in just 8 months! After being asked constantly by friends and family on how he did it, Matt created a community dedicated to leveraging this loan, and introduced the strategy called “The 203k Way”. Since creating the community...he's helped 100's of aspiring investors get their first or next cash flowing, high equity investment property - with only a 3.5% down payment by leveraging this unique loan product. But it doesn't stop there! Not only does the first 203k deal help his students achieve immediate equity and cash flow returns, but it acts as a catalyst to open the door to even more deals, and launch their real estate investing careers - just like it did for Matt. To follow and learn more about Matt Porcaro visit https://www.instagram.com/the203kway/Learn more about the systems I use to virtually wholesale nationwide using the links below!Speed to Lead PPC Marketplace: https://app.ispeedtolead.com/TITANIUMLeadZolo YouTube Leads: https://www.leadzolo.com/titaniumBatchLeads 1,000 Seller Leads: https://batchleads.io/titaniumBatchDialer 7 Day Free Trial: https://batchdialer.com/titaniumNationwide MLS Comps: http://bit.ly/3K3MFUGThe Most Powerful Dispo Tool: https://get.investorlift.com/titanium/Real Estate Investor Websites: https://www.minutepages.com?_by=titaniumPropstream Free Trial: http://trial.propstreampro.com/titanium/Learn Novations: https://inc604.infusionsoft.coSupport the show

In this episode, I'll share with you how you can leverage your military service to invest in real estate using VA 203K loans. Learn the tactics to fund your rehab, build equity quickly, and flip the property to get the funding for your deal. Don't miss this opportunity to use your military service to jumpstart your real estate investment journey! Plus, I'll introduce you to a valuable tool - traccap.com - where you can register for a funding meeting to get your loan set up and be ready for your next deal.Article: VA Rehab And Renovation Loans | BankrateShow Notes Want to get Started becoming a Real Estate Investor? Are you a real estate professional ready to transition into becoming a full time real estate investor? If so click this calendly link to schedule your coaching assessment call with Donny today. Find and Analyze Deals Like a professional. Get access to the software I use daily to find and figure out my number on the Deals. Click here to analyze deals with Privy.http://bit.ly/fdcprivy Join the conversation today. Facebook Group - Foreclosure Deals Coach http://fdcoachgroup.comFacebook Page - Foreclosure Deals Coach http://facebook.com/foreclosuredealscoach Want to learn more from Donny Coram? Download the FREE ebook "The Hidden Foreclosure Deals Market" I want my free ebook NOW! http://bit.ly/fdcbook

Escrow in real estate refers to a neutral third party holding onto funds or property documents during a real estate transaction. The purpose of escrow is to ensure that the agreed-upon terms of the sale are met before the transfer of ownership takes place. The escrow agent acts as a mediator and only releases the funds or documents once all conditions of the sale are satisfied, such as the buyer obtaining financing or the seller providing clear title. Escrow provides security and peace of mind for both the buyer and the seller during the buying process.

If you could go back to your early 20s and do it all over again what would you do? This question is what inspired Matt Porcaro and ultimately made him the founder of the 203k Way. Hitting right out of the gate, Matt is sharing his first home purchase using a 203k loan. Take a deep dive into what a 203k loan is, how it benefits investors, and how Matt used it to build his real estate portfolio. Learn all about how contractors play into a 203k loan and how this loan can be used specifically for STR investments. We're even going into how a seller might see an offer that is a 203k or homestyle loan. Matt is giving practical advice on scheduling your time and prioritizing exercise, and encouraging those suffering from analysis paralysis. All things in life require a massive action, so listen in to be inspired to get busy. Blue Gems Management- https://bluegemsmgmt.coSTR Meet Up- https://bluegemsgroup.comConnect with MattInstagram- @the203kwayYoutube- The 203k Way [00:00] Episode teaser [00:36] Show intro [01:09] Welcome to Matt[01:24] Matt's background and his area of expertise [11:14] The nuances of using a 203k loan [17:27] How to utilize a 203k loan for STR investors [22:33] Blue Gems Management [23:00] How is a seller looking at a homestyle loan offer? [26:35] Ways Matt is investing his money outside of the 203k loan [32:02] Advice for a real estate newbie [34:26] A day in the life of Matt[37:21] The last blue gem[39:17] Where to find Matt[40:07] Wrapping it up

IN THIS EPISODE, YOU'LL LEARN:07:42 - What a 203k loan is.17:40 - How 203k loans differ from other financing options.25:05 - What types of rehabs can be done with a 203k loan?34:33 - What to look for in contractors.40:57 - How to invest using a 203k loan.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESRobert's book The Everything Guide to House Hacking.HUD 203k loan description.Complete Guide to 203k loans.NEW TO THE SHOW?Check out our Real Estate 101 Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Keep up with the latest news and strategies on real estate investing with the best real estate podcasts.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Invest in high quality, cash flowing real estate without all of the hassle with Passive Investing.Private assets represent 98% of companies in North America but are absent in most portfolios. Reconstruct your portfolio with private markets with Mackenzie Investments.Save time and money on your rental property insurance with Steadily. Get a commitment-free quote today.If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds.Get personalized, expert advice that helps you see things clearly with ATB.Find an advisor who's invested in you with iA Financial Services Inc.Don't limit your dreams to the imagination. Make them happen. Explore Iowa for yourself today.Design your perfect suit with Indochino. Get 10% off any purchase of $399 or more by use promo code INVEST.Enjoy a 400-calorie meal that contains 40g of expertly sourced, premium plant protein, all 26 essential vitamins and minerals, and a scientifically calibrated mix of carbs, good fats and fiber with Huel Black Edition. Plus, get a free t-shirt and free shaker with your first order.Ship with FedEx and be ready for this holiday season with picture proof of delivery.Support our free podcast by supporting our sponsors. Connect with Robert: Website | Instagram | TwitterConnect with Matt: Website | YouTubeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this clip, the Downing brothers discuss a real-life example of how a 203k home renovation loan works. #203kloan #Mortgage Link to the full episode: https://youtu.be/JqnohwdWARA EYL University: https://www.eyluniversity.com EYL Website: https://www.earnyourleisure.com/See omnystudio.com/listener for privacy information.

Breaking into the world of real estate requires initial capital to begin your investment journey, creating a barrier for many people. But what if there was a way to get around the capital you need to get started? In today's episode, we speak to Matt Porcaro, creator of The 203k Way, a community dedicated to helping you leverage the 203k loan in order to take your first step to becoming a real estate investor. Matt spent years trying to enter the real estate market, and through trial and error, he heard about a government-backed renovation loan that catapulted him into real estate investment success: the 203k loan! In our conversation, Matt unpacks the intricacies of the loan and how it can be leveraged by first-time buyers or investors. We learn how Matt found out about the loan scheme, the various requirements to qualify for the loan, and the various ways it can be leveraged. We also find out how to avoid defaulting on the loan, why a Limited Liability Company is not a good option for first-time buyers, and the power of networking, plus much more. Tune in to hear about The 203k Way and begin your real estate investment journey today!Key Points From This Episode:A brief background on Matt and how he became aware of the 203k loan.The value of networking to become successful in real estate.Matt explains who the 203k loan was designed for.An outline about the 203k loan and what it aims to achieve.Matt's first buy leveraging the 203k loan.Whether there are any restrictions on the 203k loan.Find out if the 203k loan can be used to finance residential development.The different ways the loan can be applied.How long the owner has to occupy a property to qualify for the 203k loan.What not to do in order to avoid defaulting on the loan.Why forming a limited liability company (LLC) is not recommended.Matt shares details from his real estate investment strategy. What attributes or traits make for an ideal investor or first-time buyer.How being a 203k investor has impacted Matt's life outside of real estate.Links Mentioned in Today's Episode:Matthew Porcaro on InstagramMatthew Porcaro on YouTubeMatthew Porcaro on TwitterMatthew Porcaro on FacebookThe 203k WayReal Estate Investment Association Rich Dad Poor DadVertical Street VenturesPassive Income Through Multifamily Real Estate Facebook GroupPeter Pomeroy on LinkedInPeter Pomeroy Email

Good morning, Gus! From Ramsey park near Stinson's Coffee, it's a very house focused episode of ANMA. Learn about The Cheapest House in Austin, a 203K mortgage, Renovations and city permits, Littlefield building vs Norwood building, the urban sprawl of Austin, Stop The Crusher, TV gatekeeping content, Gus vs storage units, and more on this week's episode. Tell a friend about ANMA. Have them take a guess at the name. No one has guessed it yet. Sponsored by Uncommon Goods at http://uncommongoods.com/ANMA and Mint Mobile at http://mintmobile.com/ANMA 

*NEW ITEM!* Purchase my newest book! "15 Conversations with Real Estate Millionaires" https://amzn.to/3CGOWOU

Today's Guest: Stephanie Cabral For this episode, I am excited to welcome Stephanie Cabral, who is a buy-and-hold real estate investor and former attorney from Connecticut. Stephanie has built a portfolio of over $2.25m and began investing while working at a law firm as the sole member of the probate department and also working at one of the top commercial real estate firms in the world. Stephanie now owns and operates 15 units plus multiple active flips and is responsible for all aspects of the business including marketing, acquisition, construction management, operations, and property management. She specializes in the BRRRR strategy and was able to scale her business using a detailed network of systems, standard operating procedures, automation, and virtual assistants. Highlights From The Show: Stephanie shares her background with us, pointing out that she is a lawyer by trade. While she loved and thrived in law school, once she got out, she found that she didn't love practicing as a lawyer. As much as she appreciated her clients, she did not like how adversarial the work was and didn't like being in an office all day. She ended up buying a duplex in order to use the rental income to qualify for a personal home loan and she fell in love with the idea of house-hacking. She worked as an agent, too, while she was working as a lawyer and continues to since retiring from her firm in December 2019. Stephanie got a 203K loan for her first property so we explored that topic a bit. Because the brokers are looking at the ARV, you can get a larger value loan to cover both the purchase price and the rehab estimate. The contractor gets paid directly from the lender in this type of loan. Also, the 203K loan does not require you to have experience in investing and rehabilitation work, which can be a huge obstacle for newer investors with traditional hard money lenders. You also get a consultant that helps you manage the project and ensure the quality of the contractors' work. I asked Stephanie to describe the team of people she is working with to us. She said she is very involved herself, but her right hand is a virtual assistant in the Philippines who handles all of the administrative tasks, including social media and many of the property management tasks, including interfacing with the tenants. Stephanie also has a leasing assistant who directly connects with potential tenants and shows them around and screens them for rentability. She also has a bookkeeper who she hired through Upwork that has been working with her for years, but Stephanie did talk about the need to go through the trial and error process to find some people that are really good. Stephanie talked about the need to have great systems and processes in place, including training videos and templates, in order to simplify the training procedure. I asked Stephanie why she self-manages her properties versus hiring a property management company. She said that it is financially beneficial for her to self-manage, mostly because she has very little turnover in tenants. She attributes this to the constant communication she has with her tenants, which is largely automated but maintains a great connection. I asked how she handles any required repairs, and since she is having a VA handle the maintenance requests, how she is sure she is not getting over-charged. Stephanie explained that because she also does house flipping, she has a pool of contractors, and in particular, a go-to handyman who is always the first maintenance call. We talked about mid-term rentals, the effects of COVID on Stephanie's business, the BRRRR strategy, private money versus hard money lenders, the technology Stephanie uses to run her business, Facebook ads, and so much more! Don't miss this honest, fun, and hard-core real estate episode with lawyer-turned-investor, Stephanie Cabral! Notable Quotes: “Being in an office environment was not the life I wanted to live.” Stephanie Cabral “What was one of the greatest frustrations at the time ended up being the greatest gift.” Stephanie Cabral “I didn't even know that I was investing - I thought I was living cheaply and being resourceful.” Stephanie Cabral “Being resourceful is certainly one of my superpowers.” Stephanie Cabral “The power of real estate as an investment really opened up for me.” Stephanie Cabral “So the way you eat an elephant is one bite at a time.” Desmond Tutu, quoted by Stephanie Cabral “It requires some administrative stamina to get through the paperwork for a 203K loan.” Stephanie Cabral “I do make it a priority to automate and delegate as much as humanly possible.” Stephanie Cabral “Find somebody with a natural skill set that you are looking for and then you train the rest.” Stephanie Cabral “As far as delegating work, start with the task that is most repetitive that is causing the most brain damage.” Stephanie Cabral “Put yourself out there so people know what you are doing and that you are involved.” Stephanie Cabral “I have been raising private money since 2008 and I think ‘talk about what you are doing' is the number one advice.” Mike Simmons “If you ask for money, you are going to get advice. If you ask for advice, you will get money.” Mike Simmons “I'm tech heavy, but not tech savvy.” Stephanie Cabral “The concept of ‘Just Start' is so important. You don't have to be super knowledgeable, but you have to be action-oriented.” Stephanie Cabral Thank You for Listening! Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook Help Out the Show: Leave an honest review on iTunes. Your ratings and reviews really help and I read each one. Subscribe on iTunes. Resources and Links From Today's Show: Upwork CoreAssist Podio PayYourRent Google Drive SoapBox Docusign Fiverr Stephanie's Website More Resources From Mike: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months WINNING DIRECT MAIL - How to CRUSH IT with direct mail! 7 Figure Investor Video Course - Scale your business to 7 figures. I'll show you how!

Casey Keirnan started from the bottom of standard NBA media before becoming a big success on Youtube. Today his channel has 203K subscribers and it's growing. What secrets does this man hold? On the pod, we discuss:How Casey turned his life around after nearly dying from a drug overdose in 2005Why people get addictedIs it okay that Youtubers rip off reporters? Why he works as a Youtube creatorThe allure of mystery in a videoWhat the formula for content success isWhy athletes aren't best at telling their own stories This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit houseofstrauss.substack.com/subscribe

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Host: Brandon Elliott @BrandonElliottInvestments | Guest Today:  The 203k Way™ - Matt Porcaro   FREE LIVE CLASS Get 6 Figures Funding In 30 Days:  https://www.creditcounselelite.com/   YOUR TRUE CREDIT REPORT: https://www.myscoreiq.com/get-fico-max.aspx?offercode=432121Z8   About Brandon Elliott: From house arrest to real estate investor and seen on Top 100 Yahoo Finance in 2020, Brandon Elliott is a leading authority on real estate and credit. He is experienced and proven in utilizing credit to invest in real estate and implement the "BRRRR Strategy." Brandon has a thriving credit repair and tradelines company but prefers teaching people the credit hacks he's been applying for years such as building huge credit lines for both personal/business up to 7 figures and manufactured spending techniques- showing ways to create millions of points equivalent to cash, free travels, and even buying properties using credit cards. From the credit knowledge that is taught in his Elite Credit Course, Brandon was able to liquidate $200K+ for a safety-net when purchasing a 4-PLEX in one of the most desirable locations in San Diego, just 8 minutes walking distance from the famous San Diego Zoo. His passion in helping others reach their financial freedom too, led Brandon to host "Ready. Set. Go. Real Estate Investing" podcast every Monday sharing how you can invest in real estate successfully with little to no money utilizing credit. Brandon has completed numerous Fix & Flips locally in San Diego as well as across the country out of state virtually with his worst project still being 60% cash-on-cash ROI. ----------------------------

Real Estate Expert & Best-Selling Author, Gerald Lucas identifies several risks of 203k mortgage loans to home buyers

Our guest for the show today is Adam Black, Senior Mortgage Loan Specialist with First Commercial Bank. We'll talk about getting a home loan in today's climate. Are you considering buying a home or refinancing?https://www.firstcommercialbk.com/S&P Case-Shiller home price indexrecent history of mortgageslength of timetypescredit scoredown paymentshopping for a mortgage7/14/2020 Money Talks: First Mortgage http://moneytalks.mpbonline.org/episodes/money-talks-first-mortgage6/11/2019 Money Talks: Refinancing Mortgages http://moneytalks.mpbonline.org/episodes/money-talks-refinancing-mortgages6/19/2018 Money Talks: Mortgage Loanshttp://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d7e3/15/2022 Money Talks: Increase Your Credit Score http://moneytalks.mpbonline.org/episodes/money-talks-increase-your-credit-score10/2/2018 Money Talks: Credit Score http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d6fQuestions:HELOCHUD home: FHA $100 down program, 203K renovation loanTitle insuranceHomeowner's insuranceSchool debt / equity loan See acast.com/privacy for privacy and opt-out information.

What is a HUD 203k loan, when does it make sense for investors to leverage this loan, and where do 203k loans fall apart? Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Perry Farella of Prime Lending Link: ttps://perryfarella.com/blog/ ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.

Sachin Patel and Dr. David Bennett discuss the whys and hows of short-form video, including where to view it, how to plan your content, what equipment you need and accessories you may want, how to edit the video, and where to upload it. Dr. Bennett's first TikTok video went viral. Now he has millions of viewers, which translates into organic growth in his practice. He gives practical advice for getting started, and he offers a course for practitioners who want to create short-form videos effectively. Sign up for the course from the link below and he will include a 30-minute consult with you to start you on solid footing.   Key Takeaways: [1:02] Sachin welcomes listeners to today's episode with his friend, Dr. David Bennett. Sachin and Dr. Bennett graduated in the same class in chiropractic school. Dr. Bennett is a part of the Perfect Practice mentorship and a Council member who advises other practitioners.   [1:30] Recently, Dr. Bennett embarked on a journey to learn and master short-form video. He started with TikTok videos and has had millions of views, generating additional income for him. Do you have to dance or sing for your short-form video to take off? Dancing and singing are optional!   [2:32] Don't put detailed explanations into a short-form video. People have short attention spans. Hook people in the first few seconds so they will watch to the end of your short-form video. Dr. Bennett was inspired to try TikTok after listening to a webinar on reach. His first video went viral, with five million views! He realized the short-form video was a “must” to get such a reach.   [6:56] After putting up short-form videos for six to nine months, Dr. Bennett started seeing an impact on his bottom line. You are turning an audience of people who have no idea who you are into a following of people who know, like, and trust you through your videos. The platform tells your followers when you add a new video.   [8:54] Dr. Bennett keeps a notebook to write down blurbs for video. One blurb makes one short-form video. Grab your phone, film it, and you're ready to go.   [12:13] Don't worry about the numbers; they'll come. You sort of start chasing the numbers, the likes, the follows, versus “Hey, I want to get this information out there to somebody who wants to hear it.” Pay attention to the comments when they start coming in and reply to them. On some platforms, you can film your reply to the commenter.   [13:49] Dr. Bennett shares his short-form video work process and the video editing software he uses. He pushes the video from his phone to each platform instead of sharing it from TikTok, so he doesn't get a TikTok watermark on his Facebook video. The platforms are making it easier for you to get your message out.   [15:13] Dr. Bennett's first video was done “as a whim.” showing a model of five pounds of fat. It got 200K comments. Dr. Bennett has just crossed 200K followers on TikTok. Some followers have signed up for his programs.   [16:23] Dr. Bennett shares view statistics from January 1 to March 1. His videos on TikTok received 4.6 million views. His profile views for the 60 days were 203K. His bio is a LinkTree link. Those click-throughs increased Dr. Bennett's Lead Magnet signups by over 1,500% from the prior 60 days.   [18:28] Dr. Bennett just experienced a drastic drop in views. TikTok had basically closed off his audience. But those who had clicked through and signed up for Lead Magnet were on his mailing list. The key to organic growth is taking viewers from the platform and moving them to your list.   [20:39] Dr. Bennett used to run an ad on social media to get clicks to Lead Magnet. He has dropped the ads because he gets better success organically from TikTok.   [21:42] Sachin advises you to get a good book on a topic in which they are experts, go chapter by chapter, and pick up factoids that blow your mind to share, with due credit, in the short-form video.   [22:50] Short-form video is no more technical than using your phone to take a video of your kids. It doesn't have to be perfect, with perfect lighting. You can be careful about reflection off your glasses, but Dr. Bennett doesn't worry about that anymore. The content is the key. One video can lead to many more related videos due to audience response.   [25:17] Dr. Bennett doesn't write copy to put on the platform for his short-form videos. He would rather viewers click on his LinkTree than click to get a description of the video. He does include the right hashtags for the algorithm to categorize the video and push it to the right audience. For some of his videos, he writes a script with keywords, just for his use.   [27:38] Dr. Bennett developed a five-module course of video training. He shares a tip from it: go get a username on every social platform, even if you don't use it. You want to have the same username across as many platforms as possible. Each of the five modules of his video training should take you less than an hour to do. Each video is under 10 minutes.   [32:45] Should you keep a personal TikTok account separate from your business account? Dr. Bennett shares his suggestion. He also points out that business accounts have more analytics.   [34:48] As a listener of Perfect Practice, when you sign up for the five video training modules at Growmypractice.krtra.com/t/bvutQZmxL1dT, Dr. Bennett offers you a one-on-one 30-minute consult at no extra cost. (Don't click the option for the one-on-one consult; Dr. Bennett will know you're a listener from the link in this text).   [35:41] Sachin wants to know what you should do if you have multiple contributors to a business channel? It varies. Limit who can post on your business page. Sachin is excited to take the video training modules and open his TikTok account! He encourages all of you practitioners to do the same!   [38:21] Dr. Bennett advises you to start going on the social platforms and look at the options, Reels on Facebook and Instagram, TikTok, and YouTube Shorts.   Mentioned in this episode Perfect Practice Live David Bennett, CFMP Metabolic Body Reset TikTok Facebook Instagram YouTube LinkedIn CapCut LinkTree Izabella Wentz's book on Thyroid Disease Dr. Datis Kharrazian's book on Thyroid Disease MeWe MySpace Pinterest   More about today's guest Dr. David Bennett Learn how Dr. David Bennett is successfully using short-form video to successfully share his message. Dave has had over 4.5 million video views and literally thousands of personal messages flooding his inbox. He has also put together a special training to share with you exactly how you can do it as well. Register at this link and get a 30-minute coaching session with Dave to jumpstart your success:Growmypractice.krtra.com/t/bvutQZmxL1dT   On LinkedIn: David Bennett, CFMP On TikTok: David Bennett Metabolic Body Reset On Facebook: David Bennett Metabolic Body Reset On Instagram: David Bennett Metabolic Body Reset On YouTube Shorts: David Bennett Metabolic Body Reset On LinkTree: David Bennett Metabolic Body Reset   More about your host Sachin Patel How to speak with Sachin Go one step further and Become The Living Proof Perfect Practice Live sachin@becomeproof.com To set up a practice clarity call and opportunity audit   Books by Sachin Patel: Perfect Practice: How to Build a Successful Functional Medical Business, Attract Your Ideal Patients, Serve Your Community and Get Paid What You're Worth The Motivation Molecule: The Biological Secrets To Eliminate Procrastination, Skyrocket Productivity, and Get Sh!t Done

Buying a home for the first time is confusing and daunting enough, and then everyone starts using real estate jargon and expects you to keep up. This is the first episode covering real estate terms, language, and definitions from A-Z...and we got all the way to, well, just A in this episode. And what are we going to focus on in this episode? Before actually going to letter A, we will be providing more information on number-related terms like 203B, 203K loans, and more! So join us as we provide different information on words starting with A and several related words that you should be aware of, especially when buying your first home!This podcast was started for YOU, to demystify things for first time home buyers, and help crush the confusion. After helping first timers for over 13 years, I knew there wasn't t a lot of clear, tangible, useable information out there on the internet, so I started this podcast. Help me spread the word to other people just like you, dying for answers. Tell your friends, family, and perhaps that random neighbor you REALLY want to move out about How to Buy a Home! A really easy way is to hit the share button and text it to your friends. Go for it, help someone out. And if you're not already a regular listener, subscribe and get constant updates on the market. If you are a regular and learned something, help me help others – give the show a quick review in Apple Podcasts or wherever you get your podcasts, or write a review on Spotify. Let's change the way the real estate industry treats you first time buyers, one buyer at a time, starting with you – and make sure your favorite people don't get screwed by going into this HUGE step blind and confused. Viva la Unicorn Revolution! Instagram @DavidSidoniTik Tok @howtobuyahome

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February 11, 2022. It's Superbowl weekend and the city of LA is alive! Greg and Lance discuss their top 5 Superbowl Halftime Performances and give a Real Estate Tip of the Day.

"We can talk about your particular situation and what's best for you. Don't ever get confused. Clients (home owners, buyers, investors) should recognize that they are the drivers. Everybody else is merely tools to help you get where you're going. But you need guidance sometime to help you learn just what you can do and then you can make a qualified decision." Mike Young is a 203K consultant, who has helped homeowners, home buyers as well as investors to achieve their goals for their new home visions. As a 203K consultant, he works with lenders who offer FHA 203K loan, which is a loan that includes renovation loan, which upon completion of the renovation work, becomes commonly used FHA loan, 203B. His job is to inspect homes to identify what can be done to improve the property structure-wise, cosmetically as well as energy efficiency wise to come up with a scope of work to put out for bids. Once the borrower selects the contractor based on their bids, 203K consultant would act as an liaison between the lender, contractor and the borrower to assure smooth construction process and underwriting process.

https://astralcodexten.substack.com/p/predictions-for-2022-contest - Read the contest description/rules here - Give feedback on the contest here - And once again, the form where you take the contest is here I didn't let myself check prediction markets when making these forecasts since that would spoil the fun. I also only permitted myself at most five minutes of research on any one question. See the bottom of the post for a contest/survey. US/WORLD1. Biden approval rating (as per 538) is greater than fifty percent: 40% 2. At least $250 million in damage from a single round of mass protests in US: 10% 3. PredictIt thinks Joe Biden is most likely 2024 Dem nominee: 80% 4: …thinks Donald Trump is most likely 2024 GOP nominee: 60% 5. Beijing Olympics happen successfully on schedule: 99% 6. Major flare-up (worse than past 5 years) in Russia/Ukraine conflict: 50% 7. Major flare-up (worse past 10 years) in Israel/Palestine conflict: 5% 8. Major flare-up (worse than in past 50 years) in China/Taiwan conflict: 5% 9. Honduran ZEDEs legally crippled to the point where no reasonable person would invest in them further: 5% 10. New ZEDE approved in Honduras: 30% ECON/TECH 11. Gamestop stock price still above $100: 30% 12. Bitcoin above 100K: 20% 13. Ethereum above 5K: 20% 14. Ethereum above 0.05 BTC: 90% 15. Bored Ape floor price here below current price of $203K: 40% 16. Dow above 35K: 90% 17. ...above 37.5K: 40% 18. Inflation for the year below five percent: 90% 19. Unemployment below five percent: 50% 20. Google widely allows remote work, no questions asked: 50% 21. Starship reaches orbit: 90%  

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Facebook Live Question and Answer sessions. I just started doing these live forums in April and they are going so well and I am getting such great feedback and questions, I thought I would share them here on the podcast. Especially for those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more! Some of the questions have been very real estate specific, but others have been general business questions, like asking about overcoming fear in order to get started and how to successfully scale. I have also received more personal questions like how I decided real estate investing was right for me and the steps I took to get my business off the ground. This presentation is the live Q&A that I did the week of October 13th and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests' fabulous and compelling questions! Don't miss this new episode of the Just Start Real Estate Podcast! Notable Quotes: “I think a good working relationship starts with clear expectations.” “You don't know what you don't know and sometimes you don't know what questions to ask.” “Sales tactics without compassion will always fail.” “How much is your brain focused on how much you want that sale versus truly thinking, ‘I want to help this person'?” “Make sure the sellers are motivated before you spend tons of time trying to buy their house.” “You cannot manage a millennial the same way you manage a Gen X person.” “Millennials view their job and their workday differently than people that are older than them.” “Millennials believe they are entitled to a workplace that makes them feel fulfilled, and that isn't necessarily a bad thing.” “It is possible if you have workers that are not getting the job done, it is possible they don't have the values that you want in the company.” Links: Real Estate Find & Fund Blueprint Flip Hacking Live 7 Figure Flipping Return on Investments Just Start Real Estate JSRE on Facebook Mike on Facebook Mike on Instagram Mike on LinkedIn Mike on Twitter Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Facebook Live Question and Answer sessions. I just started doing these live forums in April and they are going so well and I am getting such great feedback and questions, I thought I would share them here on the podcast. Especially for those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more! Some of the questions have been very real estate specific, but others have been general business questions, like asking about overcoming fear in order to get started and how to successfully scale. I have also received more personal questions like how I decided real estate investing was right for me and the steps I took to get my business off the ground.   This presentation is the live Q&A that I did the week of October 13th and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests' fabulous and compelling questions! Don't miss this new episode of the Just Start Real Estate Podcast! Notable Quotes:   “I think a good working relationship starts with clear expectations.”   “You don't know what you don't know and sometimes you don't know what questions to ask.”   “Sales tactics without compassion will always fail.”   “How much is your brain focused on how much you want that sale versus truly thinking, ‘I want to help this person'?”   “Make sure the sellers are motivated before you spend tons of time trying to buy their house.”   “You cannot manage a millennial the same way you manage a Gen X person.”   “Millennials view their job and their workday differently than people that are older than them.”   “Millennials believe they are entitled to a workplace that makes them feel fulfilled, and that isn't necessarily a bad thing.”   “It is possible if you have workers that are not getting the job done, it is possible they don't have the values that you want in the company.” Links: Real Estate Find & Fund Blueprint Flip Hacking Live 7 Figure Flipping Return on Investments Just Start Real Estate JSRE on Facebook Mike on Facebook Mike on Instagram Mike on LinkedIn Mike on Twitter Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

A house is a dwelling and roof over your head, but it can also be a powerful financial tool, a cash flowing asset, and a massive income driver. Our guest today saw the potential of real estate investing when he bought his first home, and immediately pulled the trigger on building his own portfolio.    Many agents find the first deal very intimidating, but taking that leap might help you discover your passion for investing.    How can agents set themselves up for success when they take on investing?    In this episode, real estate agent, investor and property manager, Kyle Craig shares his investing journey, and why buying his own home made him want to pursue a career in real estate.   "You have to put in the hours and the more you understand the process, and the more knowledgeable you are, the easier it is to balance investing with sales."  -Kyle Craig     Three Things You'll Learn In This Episode   The formula for headache-free property management Managing property and dealing with tenants makes a lot of people nervous about investing. Can you avoid the headaches of being a landlord?    Why we have to approach 203K loans with caution How can we take advantage of 203K rehab loans while avoiding expensive pitfalls of this strategy?   How to find opportunities in commercial real estate Commercial real estate has a lot of potential. How can investors tap into the unlimited hybrid creativity of this asset class?   Guest Bio:   Kyle Craig is a Real Estate Agent, Investor and Property Manager. Having started with Clockhouse Realty just over a year ago Kyle has really hit the ground running and has quickly found great success with residential and commercial sales. He is currently licensed as a real estate agent in both MA and RI. On the investing side, Kyle is closing on a couple of personal investment properties and planning to continue expanding his portfolio. He is also working toward eventually having his own brokerage.  Connect with Kyle on LinkedIn 

This week we have a.k.a. Mr. 203K  Aaron The House Person from the “203K Done Your Way Program.”1We talk everything 203K loan‘s2.How is a 203k different from a conventional or fhA loan?3.Are the rates higher?4.What are The major requirements for qualifying? 5.Give some examples when a 203k loan should be consider.6.Are repairs made with 203k loans  always supervised or does it depend on the loan amount. 7. His own Voka “Seven16” in stores now.Sponsors: 301 nutrition spot 

Show Notes 203K Done Your Way Aaron Person Season 1: Episode 13 BreakDown: This week, we are joined in the elevator by Realtor Aaron Person who is the Director of the 203K Done Your Way home loan program. For years Aaron has focused on this FHA offered home loan. On this episode Aaron and I traveled down the 203K loan rabbit hole. Aaron talked about… How the 203K loan can be utilized by home buyers, sellers and investors The positive and negative ramifications of home foreclosure and rehabilitation A means by which a home purchase can be a more viable investment And how realtors can utilize this information to assist their clientele more effectively Contact Information: YouTube - 203K DYW www.thehouseperson.com Instagram - @203Kdoneyourway @aarondperson Elevator Music: Artist Contact Info: Intro Song: Broken Trust Interview Song: Midnight Metah Artist: Skorp Metah of the Beat Doctorz linktr.ee/SkorpMetah Instagram - @SkorpMetahoftheBeatDoctorz SkorpMetah@gmail.com Show Contact Info: HueManCanvasMedia@gmail.com Anchor.FM/ElevatorPitch Instagram - @ElevatorPitch_Media HueManCanvas.com --- Send in a voice message: https://anchor.fm/elevatorpitch/message

Let's face it…The Odds are Stacked Against Aspiring Real Estate Investors. It's seemingly impossible to find deals in this sellers market, banks require HUGE $XXX,XXX down payments for investments, and flipping and wholesaling strategies are COMPLETELY SATURATED. After 4 years of trying and failing at multiple different strategies to break into real estate investing, Matt Porcaro learned about a little known government backed renovation loan that allowed him to do a live-in house flip. Using this strategy, he managed to turn a small $9,500 down payment into $130k in liquid equity and $2k a month passive cash flow… in just 8 months! After being asked constantly by friends and family on how he did it, Matt created a community dedicated to leveraging this strategy called “The 203k Way™”. Since creating the community...he's helped 100's of aspiring investors get their first or next cash flowing, high equity investment property - with only a 3.5% down payment by leveraging renovation loan products. But it doesn't stop there! Not only does the first 203k deal help his students achieve immediate equity and cash flow returns, but it acts as a catalyst to open the door to even more deals, and launch their real estate investing careers. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/gofishvillage/message Support this podcast: https://anchor.fm/gofishvillage/support

What is a 203k loan?Whether you are looking to refinance your home in order to renovate it or to buy a fixer-upper and use additional funds from the loan to increase its value, a 203k loan is a great option. Section 203k is a type of FHA home renovation loan that includes not only the price of the home, but includes funds to cover the cost of renovations. This allows you to borrow money based on the future value of your home, allowing you to amortize the cost of the repairs and upgrades into your investment.The 203k is a FHA loan with renovation feature. The major difference is that the costs that are estimated for your renovation will be held in an escrow account. You will be able to release funds to your construction team as the renovation milestones are met.No matter if your home renovations are large or small, necessary or optional, a 203k loan allows the following benefits:The loan may be used for updating, modernization, or total renovation of your home.You are able to combine renovation costs and first mortgage with either fixed rate or adjustable rate FHA 203k mortgage.All repairs are done after closing the 203k loan.The loan amount is based on the appraised value of your home including the proposed renovations.A 3.5% down payment is all that is required for purchases.You have the ability to use a 203k loan for improvements on a refinance or purchase.

We got a great podcast this week! This week we chat with Matt Porcaro who is a genius in house hacking and using the 203k loan to utilize his fix and flips. He teaches us what a 203k loan is, how he uses it, and other tips and tricks to use similar loans for your fix and flips. Enjoy! #203kloan #homeloans #mortgages #houseshacking #fixandflip #fixerupper #longislandrealestate --- Send in a voice message: https://anchor.fm/charles-weinraub/message

Possibly the biggest consideration when taking on a rehab project is how to finance the deal. We’ve all considered hard money, FHA has their 203K loan program, and we’ve probably seen a late night commercial or two. Perry Farella of Prime Lending talks us through a loan program which is a cross between a conventional loan and hard money, something that you don’t even need to refinance out of once the property is stabilized. Listen in as Perry tells us more about this product and how it can be best used to fund your next Chicago rehab. Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Perry Farella of Prime Lending Sponsor: ChicagoREIA   Sponsor: Appeal.tax   Link: How 2 Fund Renovation Blog   Link: Be Your Own House Contractor: Save 25% without Lifting a Hammer   ----------------- Guest Questions Background 5:00 How do you qualify for rehab loans? 9:45 How do you determine and support the ARV? 11:30 What is the closing timeline for these loans? 13:45 How does the draw process work for construction? 17:45 Do you need to refi out of this loan product? 21:00 Are there price thresholds these loans work best for? 22:00 What goes wrong? 27:00 Hot investment neighborhoods? 31:00 What would need to happen for credit to tighten? 38:45 Competitive advantage? 42:45 What is one piece of advice you’d give a new investor? 43:50 Wrap Up Questions What do you do for fun? 44:20 Self development recommendations? 45:20 Quality resources? 47:20 How can we learn more about you? 48:00 That’s our show! Thanks for tuning in! If you want to make the most of your investment, connect with us at https://www.gcrealtyinc.com/. ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2021.

This week, Matt Porcaro (@the203kway) sits down to talk with the Juice Boys about his foiree into real estate. Aside from discussing his personal portfolio, goals, and legacy aspirations, Matt shares a wealth of knowledge and advice, including what he believes to be the best way to get started in real estate - a live-in flip house hack. Sound intriguing? Have a listen.After listening to this episode, you can get more of Matt's content at the links below:The 203k Way Free Training Course - https://www.the203kway.com/freetraining-1@the203kway on Instagram - https://www.instagram.com/the203kway/-We're now using RentRedi to help manage our investment properties. RentRedi is an all-in-one property management software that assists with rent collection, maintenance, tenant screening, communication and more. Click HERE to learn more about RentRedi, and be sure to use promo code JUICEPOD to get 50% off. -

You should hire a 203k Consultant that is certified through the FHA. They're basically inspectors that would happily come with you when you're checking out properties. Their job is to do a feasibility study on houses that you are looking to buy. They go in, they review the house, they give you a cost estimate about what the work is going to be to get the house up to snuff for the bank to approve the loan.Podcast Episode 3Instagram: @the203kway203ksecrets.comInstagram: @househackingsuccesshousehackingsuccess.comClick here to download our FREE eBookThe House Hacking Success Course

203k loan is a specific FHA loan where you're able to wrap the rehab cost of buying a property into the loan. It allows you to buy houses that are in bad shape, foreclosure properties, distressed properties, properties that people that are looking to make a good financial decision.Podcast Episode 3Instagram: @the203kway203ksecrets.comInstagram: @househackingsuccesshousehackingsuccess.comClick here to download our FREE eBookThe House Hacking Success Course

There's a really quick and easy way to find out who's doing the most 203k deals in your market. You can find the best of the best with some simple searches!Podcast Episode 41Instagram: @the203kway203ksecrets.comInstagram: @househackingsuccesshousehackingsuccess.comClick here to download our FREE eBookThe House Hacking Success Course

Remove the veil from 203k loan renovation lending. Become financially free!I can live for free now because I'm renting out one unit and living in the other.Podcast Episode 41Instagram: @the203kway203ksecrets.comInstagram: @househackingsuccesshousehackingsuccess.comClick here to download our FREE eBookThe House Hacking Success Course

Matt Porcaro comes on the show to talk about what happened to the FHA 203K loan during the pandemic and how they were still available. He also shares his insight on the real estate market and gives a ton of great advice for people looking to get started in real estate investing!Links:Show Sponsor: RentometerRentometer let's you analyze rent on your property!Matt's Instagram: @the203kway203ksecrets.comInstagram: @househackingsuccesshousehackingsuccess.comClick here to download our FREE eBookThe House Hacking Success Course

For this episode, I am excited to welcome Stephanie Cabral, who is a buy-and-hold real estate investor and former attorney from Connecticut. Stephanie has built a portfolio over $2.25m and began investing while working at a law firm as the sole member of the probate department and also working as one of the top commercial real estate firms in the world. Stephanie now owns and operates 15 units plus multiple active flips and is responsible for all aspects of the business including marketing, acquisition, construction management, operations, and property management. She specializes in the BRRRR strategy and was able to scale her business using a detailed network of systems, standard operating procedures, automation, and virtual assistants. Stephanie shares her background with us, pointing out that she is a lawyer by trade. While she loved and thrived in law school, once she got out, she found that she didn't love practicing as a lawyer. As much as she appreciated her clients, she did not like how adversarial the work was and didn't like being in an office all day. She ended up buying a duplex in order to use the rental income to qualify for a personal home loan and she fell in love with the idea of house-hacking. She worked as an agent, too, while she was working as a lawyer and continues to since retiring from her firm in December 2019. Stephanie got a 203K loan for her first property so we explored that topic for a bit. Because the brokers are looking at the ARV, you can get a larger value loan to cover both the purchase price and the rehab estimate. In this type of loan, the contractor gets paid directly from the lender. Also, the 203K loan does not require you to have experience in investing and rehabilitation work, which can be a huge obstacle for newer investors with traditional hard money lenders. You also get a consultant that helps you manage the project and ensure the quality of the contractors' work. I asked Stephanie to describe the team of people she is working with to us. She said she is very involved herself, but her right hand is a virtual assistant in the Philippines who handles all of the administrative tasks, including social media and a lot of the property management tasks, including interfacing with the tenants. Stephanie also has a leasing assistant who directly connects with potential tenants and shows them around and screens them for rentability. She also has a bookkeeper who she hired through Upwork that has been working with her for years, but Stephanie did talk about the need to go through the trial and error process to find some people that are really good. Stephanie talked about the need to have great systems and processes in place, including training videos and templates, in order to simplify the training procedure. I asked Stephanie why she self-manages her properties versus hiring a property management company. She said that it is financially beneficial for her to self-manage, mostly because she has very little turnover in tenants. She attributes this to the constant communication she has with her tenants, which is largely automated, but maintains a great connection. I asked how she handles any required repairs, and since she is having a VA handle the maintenance requests, how she is sure she is not getting over-charged. Stephanie explained that because she also does house flipping, she has a pool of contractors, and in particular, a go-to handyman who is always the first maintenance call. We talked about mid-term rentals, the effects of COVID on Stephanie's business, the BRRRR strategy, private money versus hard money lenders, the technology Stephanie uses to run her business, Facebook ads, and so much more! Don't miss this honest, fun, and hard-core real estate episode with lawyer-turned-investor, Stephanie Cabral! Notable Quotes: “Being in an office environment was not the life I wanted to live.” Stephanie Cabral “What was one of the greatest frustrations at the time ended up being the greatest gift.” Stephanie Cabral “I didn't even know that I was investing - I thought I was living cheaply and being resourceful.” Stephanie Cabral “Being resourceful is certainly one of my superpowers.” Stephanie Cabral “The power of real estate as an investment really opened up for me.” Stephanie Cabral “So the way you eat an elephant is one bite at a time.” Desmond Tutu, quoted by Stephanie Cabral “It requires some administrative stamina to get through the paperwork for a 203K loan.” Stephanie Cabral “I do make it a priority to automate and delegate as much as humanly possible.” Stephanie Cabral “Find somebody with a natural skill set that you are looking for and then you train the rest.” Stephanie Cabral “As far as delegating work, start with the task that is most repetitive that is causing the most brain damage.” Stephanie Cabral “Put yourself out there so people know what you are doing and that you are involved.” Stephanie Cabral “I have been raising private money since 2008 and I think ‘talk about what you are doing' is the number one advice.” Mike Simmons “If you ask for money, you are going to get advice. If you ask for advice, you will get money.” Mike Simmons “I'm tech heavy, but not tech savvy.” Stephanie Cabral “The concept of ‘Just Start' is so important. You don't have to be super knowledgeable, but you have to be action-oriented.” Stephanie Cabral Links: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months Upwork CoreAssist Podio PayYourRent Google Drive SoapBox Docusign Fiverr Stephanie's Website 7 Figure Flipping Return on Investments Just Start Real Estate JSRE on Facebook Mike on Facebook Mike on Instagram Mike on LinkedIn Mike on Twitter

For this episode, I am excited to welcome Stephanie Cabral, who is a buy-and-hold real estate investor and former attorney from Connecticut. Stephanie has built a portfolio over $2.25m and began investing while working at a law firm as the sole member of the probate department and also working as one of the top commercial real estate firms in the world. Stephanie now owns and operates 15 units plus multiple active flips and is responsible for all aspects of the business including marketing, acquisition, construction management, operations, and property management. She specializes in the BRRRR strategy and was able to scale her business using a detailed network of systems, standard operating procedures, automation, and virtual assistants.   Stephanie shares her background with us, pointing out that she is a lawyer by trade. While she loved and thrived in law school, once she got out, she found that she didn’t love practicing as a lawyer. As much as she appreciated her clients, she did not like how adversarial the work was and didn’t like being in an office all day. She ended up buying a duplex in order to use the rental income to qualify for a personal home loan and she fell in love with the idea of house-hacking. She worked as an agent, too, while she was working as a lawyer and continues to since retiring from her firm in December 2019.   Stephanie got a 203K loan for her first property so we explored that topic for a bit. Because the brokers are looking at the ARV, you can get a larger value loan to cover both the purchase price and the rehab estimate. In this type of loan, the contractor gets paid directly from the lender. Also, the 203K loan does not require you to have experience in investing and rehabilitation work, which can be a huge obstacle for newer investors with traditional hard money lenders. You also get a consultant that helps you manage the project and ensure the quality of the contractors’ work.   I asked Stephanie to describe the team of people she is working with to us. She said she is very involved herself, but her right hand is a virtual assistant in the Philippines who handles all of the administrative tasks, including social media and a lot of the property management tasks, including interfacing with the tenants. Stephanie also has a leasing assistant who directly connects with potential tenants and shows them around and screens them for rentability. She also has a bookkeeper who she hired through Upwork that has been working with her for years, but Stephanie did talk about the need to go through the trial and error process to find some people that are really good. Stephanie talked about the need to have great systems and processes in place, including training videos and templates, in order to simplify the training procedure. I asked Stephanie why she self-manages her properties versus hiring a property management company. She said that it is financially beneficial for her to self-manage, mostly because she has very little turnover in tenants. She attributes this to the constant communication she has with her tenants, which is largely automated, but maintains a great connection. I asked how she handles any required repairs, and since she is having a VA handle the maintenance requests, how she is sure she is not getting over-charged. Stephanie explained that because she also does house flipping, she has a pool of contractors, and in particular, a go-to handyman who is always the first maintenance call.   We talked about mid-term rentals, the effects of COVID on Stephanie’s business, the BRRRR strategy, private money versus hard money lenders, the technology Stephanie uses to run her business, Facebook ads, and so much more! Don’t miss this honest, fun, and hard-core real estate episode with lawyer-turned-investor, Stephanie Cabral! Notable Quotes:   “Being in an office environment was not the life I wanted to live.” Stephanie Cabral   “What was one of the greatest frustrations at the time ended up being the greatest gift.” Stephanie Cabral   “I didn’t even know that I was investing - I thought I was living cheaply and being resourceful.” Stephanie Cabral   “Being resourceful is certainly one of my superpowers.” Stephanie Cabral   “The power of real estate as an investment really opened up for me.” Stephanie Cabral   “So the way you eat an elephant is one bite at a time.” Desmond Tutu, quoted by Stephanie Cabral   “It requires some administrative stamina to get through the paperwork for a 203K loan.” Stephanie Cabral   “I do make it a priority to automate and delegate as much as humanly possible.” Stephanie Cabral   “Find somebody with a natural skill set that you are looking for and then you train the rest.” Stephanie Cabral   “As far as delegating work, start with the task that is most repetitive that is causing the most brain damage.” Stephanie Cabral   “Put yourself out there so people know what you are doing and that you are involved.” Stephanie Cabral   “I have been raising private money since 2008 and I think ‘talk about what you are doing’ is the number one advice.” Mike Simmons   “If you ask for money, you are going to get advice. If you ask for advice, you will get money.” Mike Simmons   “I’m tech heavy, but not tech savvy.” Stephanie Cabral   “The concept of ‘Just Start’ is so important. You don’t have to be super knowledgeable, but you have to be action-oriented.” Stephanie Cabral Links: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months Upwork CoreAssist Podio PayYourRent Google Drive SoapBox Docusign Fiverr Stephanie’s Website 7 Figure Flipping Return on Investments Just Start Real Estate JSRE on Facebook Mike on Facebook Mike on Instagram Mike on LinkedIn Mike on Twitter

In this episode we are joined by Drew " Mortgage Whip" Whipple, Recruiting Manager/VP Sales/Loan Officer at WE Lending. He breaks down the process, what to expect and what determines your loan. Mortgages are always highly questioned and misunderstood, it's confusing for someone who has never had to take a loan out. Hopefully this episode makes it a little less intimidating if you're in the process. Drew Whipple contact : Drew “Mortgage Whip” Whipple NMLS 1132486WE Lending Recruiting Manager/VP Sales/Loan OfficerNJ:  8000 Sagemore Drive, Marlton, NJ 08053Main Phone:  856-924-1682EFAX: 1-856-895-0355Website:  MortgageWhip.comStephen B. Clyde Realtor, CDPE, CHS, SFR RE/MAX Preferred / RE/MAX Cherry Hill Realtors 90 Old Marlton Pike Marlton, NJ 08053 Phone: 856-810-8282 Ext 1200 Cell: 609-868-2114 

Emil: Hey everyone. Welcome back for another episode of The Remote Real Estate Investor on today's episode, Michael and I are talking to Jonathan Barr, who is a friend of ours is also a local resident of Los Angeles like me. And in today's episode, he shares his journey as originally starting out as an investor in the Los Angeles area. And then over time realizing that he could get better returns in out of state markets. And we just talked to him about his journey, how he did it, and he shares a lot of the details so let's get into this episode.   Emil: Jonathan, welcome to the show, man. We're excited to have you.   Jonathan: Thanks guys. Happy to be here.   Emil: You are. You are another person that Michael and I have met on Twitter. You and I have had a couple calls and some stoked to have you on the podcast, man, to talk about.   Jonathan: Both LA Guys so.   Emil: That's right. That's right. LA shout out another LA guy investing out of state.   Michael: The tres LA Amigos on this one.   Emil: Yeah. Cool, man. Um, so before we get into what I really want to talk to you about, which is your out of state investing, just give our listeners a little background on you, where you're from, what you do and we'll take it from there.   Jonathan: Cool. I'm Jonathan bar, my company's JB2 investments born and raised in LA. Hablo espanol. So come from like immigrant parent background. I love LA for all the diversity and the different kinds of neighborhoods and the endless things to do here, even though we can't really enjoy it right now, obviously, and LA is so damn expensive, so it's hard to invest here as well. Right? I grew up in a real estate family and my parents been doing flips and involve in real estate. And my mom was a real estate agent showing houses with her being my daycare was basically her office.   So I've basically been around it all my life, but I started mainly my journey in high school. I got my real estate license when I turned 18. Didn't really use it at the time, but I'd go to like my parents' office after school every day and kind of learn a few things here. And there went to college, graduated 2008 after the great recession, not the best time to get a job. And so I couldn't find a job. My mom's like, come work for us. I was pretty reluctant to go because I wanted to do my own thing. Be independent, all that kind of stuff, but they also got hit pretty hard through the relapse recession.   So I kind of felt like a duty to my family to come help out, come rebuild. Folk came back, became an agent for a little bit, was working with buyers. I'm pretty terrible at it. Just wasn't confident, didn't know a lot. And I just didn't really like it, right? It's not really that fun. That part of the business is not fun. At least not for me. Right. And people just have crazy expectations. And so then we started getting into the trustee sales of foreclosure auction. So luckily my parents, you know, have some education there and they luckily had some connections to investors have capital. So we were able to raise some capital and go to the auctions.   And so at the beginning I was involved in everything. Like I was looking at the properties running title, I'm going to courthouse steps. And we were also a lot of times it was like breaking into vacant houses to try to get a look at the inside just because it made a huge difference. I mean, if you can get in doors and see like, Oh actually the kitchen is pretty nice. Oh, the bathroom's pretty nice. Oh, I can actually see that the electrical is done or like looking at old permits. And a lot of the times, like one of those properties were going to sale. They were bought in like, ‘04/05 So it was old, like MLS listings. I could kind of like, look at descriptions and look at old pictures and that kind of thing.   Emil: I was going to ask you to share one of your, when you're a crazy auction stories, hoping you would, uh, mentioned that. And that that's definitely a crazy auction story. I mean, yeah. It gives you a leg up because a lot of times you're going in blind and you don't even know what you're bidding on. Right?   Jonathan: Yeah. And, I remember the first house I bid on. I actually bid myself up cause I was so nervous, you know? Cause like, you know, you have, cause you have like the actual money orders, like in a envelope ready to pay for these properties. And I was like 24 at the time, my first time ever doing this and I was like, Whoa, this is insane. You know? Cause how they do it, they like, they're like, okay Jonathan, your bid. But when they say Jonathan, your bid, that means you're the highest bidder by thought he said, Jonathan, you bid. I was like, Oh yeah, I'll bid.   Michael: It's your turn to bid.   Emil: Oh man. I can't imagine how like adrenaline inducing an auction must be, especially the first time, like you said.   Jonathan: Yeah. We were bidding on like 10 different houses. On one point it was definitely like a rush like every morning was like a big rush analyzing all these deals. And you know, we were at a point where buying three, four homes a week at one point it was insane. One year we did 82 homes. Pretty crazy.   Michael: So Jonathan paint this picture for me, you know, listeners, right? I'm picturing a guy on a podium talking about, you know, property one, two, three, $5, $5. I hit $5. Right. And everybody's out there in the crowd, you know, bidding. Is that actually what it's like?   Jonathan: Yeah. But it's basically in front of the courthouse steps, super casual. And at that time there was only like 20 people going to the auction. So it wasn't a lot of people. And like we were so super focused in a certain neighborhood. So like we were the only ones that bought and these couple neighborhoods. And when you bid on those properties, people kind of knew to kind of back off. Cause we going to be the most competitive investors. And we were also doing like higher end kind of like trendy designs that a lot of people at that time weren't quite doing yet. So we were able to push the values on the properties that we're buying by, you know, 10, 15%. So we're able to kind of bid 10, 15% more than anyone else. So that's what allowed us to kind of buy these properties over other people. Knowing our pockets and knowing all that.   Michael: Knowing your market. Yeah.   Jonathan: Yeah. It makes a big difference.   Emil: These auction were around LA, right?   Jonathan: Yeah. They were mainly in Northeast LA. So if you're familiar with LA, Silverlake, echo park, Highland park, kind of like the hipster havens up that way, I guess you could call it, you know.   Michael: Now some of the most trendy neighborhoods in LA.   Jonathan: Yeah. Yeah, definitely. And you can't find too much under a million dollars in those neighborhoods now. When we're buying properties at like 250, 300, 350,000, it was like crazy. Like these are like Midwest prices, you know?   Michael: Wow.   Emil: And now the hottest part of LA. So that's a good segue into like your, your beginnings and how you picked up your first couple of investment properties that we were talking about.   Jonathan: Yeah. So I luckily during like the 2010, 2012 period was able to pick up a few duplexes in that area. And one of which I lived in and basically how SAC, cause I rented a room to a friend and, and rented the back house and I was kinda like, Holy crap, these people that I'm renting this house to in the back or paying my mortgage, this is insane. I need to continue to do more of this. And like, all I gotta do is like, they call me every few months to get fixed some minor thing. And I just got to pay a few bills and put it on auto pay and we're good. Right. So that was kind of my aha moment. We also like around that time started getting into some development. So we're doing like small outs, subdivision developments, entitlements, and doing like townhouse style construction because the REO is, and all that stuff was kind of drying up. So that was, don't really want to do that anymore. It was a learning experience. We have a lot of NIMBYs in LA and for your listeners that don't know what an NIMBY is, not in my backyard. So that's a big problem we have here. And that's part of the reason of getting out of California was just all the rules, regulations and problematic things like that. Right.   Michael: Makes sense. Yeah.   Emil: How did you find that that first duplex is that auction?   Jonathan Yeah. That's an interesting story actually. So my mom's first broker she ever had in LA when she was, I don't know, 22, 23, like barely speaking English at the time was this like older, like lady that had been doing real estate, like maybe 10, 15 years before she even started working for, and she was still doing real estate at the time. And she had this listing that she wasn't able to sell. And we looked at it as actually buying it as a flip, but it didn't quite make sense, but I was looking at it and I was like, you know what? I would live here. And then I saw at the time silver Lake was still kinda like getting better. So it wasn't quite there yet. So, and then I saw some girl walking with her dog. I was like, well, this lady is walking with her dog here. It must be all right.   You know, but the thing is, the back house was like on its side. So I had to build a whole new foundation, the front, like it was a total fixer and, and luckily the foundation guy was this Jewish guy and I have a Jewish background. My dad's from Israel. So we had like some connection way and he had a lot of funds as well. So he's like, how are you funding this? I was like, well, I'm going to try to do like a 203K loan with which, for your listeners is basically like a FHA loan where they give you money for construction as well. He's like, well, I'll lend you that money at that same rate. And I was like, what? Like amortized and everything. I went to my mom and I was like this like good.   Like, like, should I do this? And she's like, yes, that's amazing. Like do that. Cause I thought it was like, I was like, there's gotta be something shady about this. Why is this guy trying to throw money at you? Right. So I went through with it and I fix up the property. He gave me the money for the construction. I paid him and then I refinanced it a couple of years later. So it was like blessing.   Michael: That's awesome. Did the foundation issue, I mean, clearly it didn't scare you away, but what were you thinking going into it? I mean, that sounds like a pretty big lift.   Jonathan: I mean, I think with the connections that I had, it wasn't a scary for me. I think for someone that's just starting, like, you probably don't want to get into something like that. Cause it was definitely more expensive, definitely more problems. And it was a headache, but that's like my focus, right. I know for your guys' listeners, they're buying, you know, like turnkey houses out of state and that's a good way to go and something that's already done that you just kind of plug and play and just make sure you manage the manager. Well, right.   Michael: Yeah. Yeah.   Emil: You had a background in real estate. So you'd been doing this for a while before. You're like, all right, I'm going to take something on like that, that is going to need a lot of work. It wasn't like the first, your first run with real estate. And you're like, I'm just going to take this massive project on.   Jonathan: Yeah. Usually the more work you need to do, the better deal you're going to get. But the more headaches you have to deal with.   Emil: Yeah, absolutely.   Jonathan: Yeah. If you have the time and expertise to do it, it works. But if you don't, then it could be a headache that ruins the deal.   Michael: Brain damage.   Jonathan: Or you just don't know what to do. And it ends up being a terrible deal. Right. Because you can get in the best deal in the world, but then if you're over construction by 200,000 and it takes you a year longer than you thought it could turn into a pretty bad situation, right?   Michael: Yes it can. So speaking from experience something, right. I talk a lot about the podcasts this vast development project. I'm working on it. It's like so over budget. And so over timeline, part of the issue is I had two fires in the building during construction, which halted everything.   Jonathan: What?   Michael: Yeah. And the ironic part is I used to work as a professional fire protection engineer. So the fact that I had to in a building that I owed is like, not only statistically impossible, but like the most embarrassing thing ever. So just dealing with the insurance headache is, has just been total joint..   Jonathan: Did you have tenants or was it just like a random combustion?   Michael: I have four tenants. And so one was started in a tenant space. We, the fire department wasn't able to put their finger on like, Hey you did it because they're pretty like blahzay about it. Oh the fire started. We're not willing to say who did it. And then the second was I was having a new roof put on and the fire started on the roof and I'm like, yeah, the roofer started the fire. But the, they weren't able to say conclusively, it was this, that or the other thing.   So which would have been so much easier for me. Cause then my insurance company could go subrogate. And if we're going to keep this in, but subrogation is basically someone's my insurance company going after a different person's insurance company to then recover their losses.   Jonathan: And they, they didn't want to accept that it was their fault?   Michael: Yeah, exactly. Of course. They're not going to be like, cause no, you can't prove it. It's, it wasn't our fault. This is our protocol and procedure for cigarette handling and butt butts and this and that. So they weren't able to, to pin it on anybody. So I had to deal with it.   Jonathan: Yeah. And that's why we have insurance, but that's why we have insurance.   Michael: Exactly. It could have been so much worse. Um, so I have to keep everyone posted on how the public adjustment process goes. Yeah. It's been over a year since the fires, but in any case. Yeah. So don't get into a project that's too, over your head. It can be a real, real pain in the butt.   Jonathan: Especially if you're out of state.   Michael: Especially if you'reout of state, it just makes it, it adds a layer of complication.   Jonathan: Yeah. Cause if you can't be there to be there, like at least once a week on a big project like that, it makes it difficult for sure.   Michael: It makes it tough for sure. Okay. So talk to us a little bit about what made you want to leave LA, what pushed you out of LA and where did you go from there?   Jonathan: Yeah. So like I said, I bought these few duplexes and like after the last recession and like 2018, 2019, I am, while the equity on these properties has grown like huge, like crazy. Right. And I started like, my cash on cash was good based on what I had actually invested in cash in these properties. I think a lot of people make that mistake. Sometimes they don't look at the full equity that's in their property. And so I started looking at what my return on the actual equity I have in those buildings. And it was like three or 4%. And I was like, I know I have to do better than this. Right. And so I started looking at LA because I know LA and I know all the vendors and you know, I feel comfortable there. I know it well. And the only thing I saw to do was buy a building that had tenants in it that I have to deal with rent control, relocations, all that stuff. And I've dealt with all of that stuff before, but it is a big headache.   You have to try to negotiate for them to move out and pay for them to move out. And it's like, I have a heart too, and it's hard for me to push people like that out. And I know they're going to leave and have to pay like $2,500 now and that's going to have a huge impact on their family. Right. And so I'd have to do that. And then also probably do a whole gut job just to get maybe like six or 7% return after that much brain damage, it's just not worth it. And so I think it was like Christmas 2017. I was in Kansas city with my wife and because she has family there and I was like bored one day. And I started looking at real estate in the area. Yeah. Real estate guy.   Michael: It's what we all do. It's like, well, what's your favorite pastime golfing now looking at deals, man.   Jonathan: And I just started like doing some math and I'm like, could be something here, you know? And, and then I just started reaching out to brokers and making some connections and doing some touring. And you know, there was kind of like these trendy areas, just like silver Lake echo park and all that.   Emil: Nice. All right. So you're looking around Kansas city. You said your wife's family's from there. So what made you finally pull the trigger?   Jonathan: Last summer? I finally decided to sell one of those duplexes and January of 2019, I'd been in Kansas city and I had toured a couple of properties. And so I called some of the brokers I had met with and toured properties with earlier that year. And one of the properties that I toured was like halfway done. And by the time I put my place on the market, they had finished that project and leased it up and they sent me the numbers. I did my numbers, I was already familiar with the building. So I was able to secure that off market. So put my duplex in escrow. And then probably two, three weeks later, I put that property in escrow before I even closed the other one because I was doing the 1031 exchange. So for me, it was kind of important to secure something because of time constraints and for your listeners to a 1031 allows you to, you know, move the gains from one property to another property without paying taxes.   But there's a 45 day window to select the property in 180 day deadline to close on that property. So a lot of people aren't successful because of those time constraints. But because I did a lot of work on the front end, I was able to secure something and kinda getting into it that way. And because I was in a 1031, they're motivated to work with me and not really push it to other people and kind of make it happen. And so far that property is doing about 10 to 15% better. And it kind of was just like that proof of concept for me that I could actually go out of state and do this successfully.   Micheal: I got to ask a quick question before the Lamarck is back on, why did you opt to do a 10 31 as opposed to a cash out refi and tap into that equity?   Jonathan: Because a cash out refi would limit the amount of cash that you can get. And I think I would have been more powerful that way and that I just kind of wanted it not be in that investment anymore. It was a small duplex and just made sense to kind of move into something bigger. Yeah.   Michael: Right on   Emil: With the cash out would have potentially made that duplex, like cashflow negative.   Jonathan: I think so that too. Yeah. Cause I was like making me be like 12, 1300 bucks a month before, and then I, I basically more than tripled that going into the new property.   Emil: Wow.   Michael: Awesome.   Emil: There you go. Proof of concept. How many units did you buy into by the way? So you sold the duplex?   Jonathan: 14.   Emil: Okay.   Michael: Holy crap. So a duplex in LA gets you a 14 unit anywhere else. Oh, that's fantastic.   Jonathan: I mean, I had a lot of cash to move over and that was part of it, but still yeah, for that. And I sold that duplex for around a million and bought the 14 unit for 1.6. I think. But I'd bought it for like 400. I think I bought it for that.   Michael: Good for you, man. That's awesome.   Emil: That is so awesome. Serious appreciation.   Jonathan: So like I'm not against investing in LA, but right now it's not the time. If you buy something right now, if anything, you might get the appreciation. Cause I think LA might take a hit with everything going on down the line.   Michael: Yeah. Jonathan circling back to a metric that you mentioned previously. It's not one that I think is talked about super regularly. So can you share with everybody what a return on equity is a measurement of?   Jonathan: Yeah, so like I bought this property for 400 and I probably put like a hundred K into it. So my cash was actually a hundred, but then the equity in it was the gain. So like it was worth a million dollars. Now, now I have in it, like let's say after closing costs and commissions and everything, my equity is like five, five 50. So it's the cashflow on the property divided by that equity gives you the percent return on that equity.   Michael: It's basically a measure of how hard your dollars the equity is working for you in that property. You could almost look at it.   Jonathan: Yeah. This is my actual cash in the property. And what's my return on that actual cash, even though it's not actual cash, but you could turn it into cash, which I did and moved it over.   Michael: It's lazy cash. Right? The equity is often lazy cash and it's not doing anything for you.   Jonathan: Yeah. And that's a thing like some people say I want to hold my property forever and I think that's good depending on the property, but a small duplex like that. Once you get to a certain point where you build up enough equity, it makes sense to kind of move it along at that point or do like a cash out refi, but sometimes depends on the bank and where things are at it'll depend how much, like maybe I only got 500 out, but if I did a cash out refi, maybe I would have when he got $300 and then I would have had to buy a different property.   Michael: Sure, sure. And when you sold your property, where you, your own agent,   Jonathan: I was so that   Michael: Perfect!   Jonathan: Now the 3% that saved me, like 30 grand.   Michael: Yeah. Yeah. That's fantastic. Okay. So the 14 unit was your first deal in KC, right. And where are you now? What's your next deal? What do you have your sights on for going forward?   Jonathan: So I could kind of explain like what we're doing now and where I'm at. So I bought that November, 2019 in January. I left the family business to just kind of that proof of concept just gave me the confidence that I could do stuff on my own. I also, with that cash flow on, I had another property. I was gaining cashflow from it. My wife has a full time job and we have benefits through that. So I was able to kind of leave that business and not get the salary I was getting there and surviving and all that. And so my brother and I both left at the same time to start our own business. And so I sold another duplex that I had that I lived in. So, and then my brother sold, just sold his duplex. And so we're looking for a larger deal, like 50 plus units either in KC or we open it up a few hundred miles from KC. So it was like Omaha st. Louis, Tulsa, Oklahoma city, Wichita, some of those kind of Midwest cities. And my brother connected with a property manager in Oklahoma city had a deal on. And then he connected separately with a broker that had that deal. And so that property manager kind of gave us credibility and kind of vouched for us, even though he didn't even know us, but he's still vouched for us.   He's like our age. And like, we kinda like sold them our story. And like, we were like, we want to keep on doing this. So he felt good with us. I guess you could say. So we put 72 unit deal under contract and we just closed two weeks ago.   Michael: Oh mazel tov   Jonathan: Yeah. Thank you.   Michael: That's awesome.   Jonathan: Thank you. Yeah. And it's not a traditional value add where we're doing a lot of work cause it's in pretty good shape. We're just kind of giving it our touch and doing some rebranding and we are changing management and reducing expenses by 25%. So that's our big value add right there. And it's actually, I think for COVID right now, it's the ideal value add where you're not like disturbing the tenants much. You're not pushing rents much. You're just like getting the operations to work better and be more efficient and less costly. Right.   Michael: So cool. A couple of questions. Did you and your brother do 10 30 ones for, for the duplexes that you sold best go around?   Jonathan: So the duplex that I sold since I lived there, half of it, I was able to keep tax-free and the other half I turned 10 31 and until the deal, then my brother, cause he lived in the other property, he was actually just able to move his tax free money over into the deal. And then we raised money from one other investor to raise the rest of the funds. And that's another thing we're working on is raising capital and talking to investors. And that's been tough because of COVID and also because it was our first larger multifamily deal. So everyone was kinda like, well invest in that. We want to see how you do on this one. I know that's the next one.   Michael: Nobody wants to be the pioneer.   Jonathan: We were able to kind of put it together, you know? Got it. And so that's what we're doing now. We're focusing on larger value, add 50 plus units in Oklahoma city or Kansas city. And we're looking to do three or four deals a year and we don't really have like a unit target. We have more like a cashflow target, but it'll end up being probably over a thousand units that we want to get to initially and then kind of see where it goes from there.   Michael: Right on. And so with the raising, the rest of the funds from the investor was a finance deal or it was all cash?   Jontahan: Financed. So we got a bank loan two and a half percent interest rate, which is insane. No reserves.   Michael: Who is this bank?   Jonathan: Bank of the West. Yeah. California bank.   Michael: That's fantastic.   Jonathan: But they're all they're nationwide. Like my banker was actually in Kansas city and that's how I got introduced to him through a broker that I know in Kansas city.   Emil: Okay. We always talk about that too like use the people, you know, to ask if they know other people in that area. Super good point.   Jonathan: Yeah. Yeah. That's a thing. And you start getting active in certain areas and with certain people and you're doing business with them, they'll refer you to people and it's just, everyone's like, it's kind of a small world and everyone's of interconnected. Right.   Michael: So you mentioned reducing the expenses on that building by 25%. And it's a question that I get all the time and I'm a multifamily guy too. So I talk about all the different levers you can pull, which is one of the reasons I love multifamily so much. So talk to us a little bit about what you're doing to reduce the expenses by 25% because that's huge.   Jonathan: Yeah. It's a hundred over a hundred thousand a year. So, um, 50,000 of it is, is marketing expense. They were like spending money in all these like different like marketing, like systems and websites that was like completely unnecessary. So we're basically, you're reducing that 50, 60,000 they're spending a year to like $3,600 a year for apartments.com and that's about it. So that's the main one. And then insurance costs where you to kind of tighten that up a little bit because our property manager owns and manages a couple of complexes nearby. We don't have to pay for it, leasing agent. They just have people kind of bouncing around. So we're kind of able to share resources a little bit as well. And they had a lot of turns that they did in the last T 12 basically. Um, and so we won't have as many turns we're going to have, we have a maintenance guy that's there full time to kind of reduce maintenance costs as well. So all that stuff combined is I think it ends up being like a $112,000 in savings in the first year alone.   Michael: So for those of our listeners that don't know what a T12 is shed a little light on that for us.   Jonathan: A T12 is basically just all the income and expenses for 12 months of the year. And it just details like if the rent income, if there's like a utility bill back income and like breaks down like insurance, property taxes, all the maintenance, everything all in one big spreadsheet. So you can kind of see get an, I get the whole story, you know? And like a lot of times with these bigger, um, apartments, you could get T12 like a few years back. So you can kind of see the progression of the whole story, the novel.   Michael: Right, right, right, right. Yeah. So the proforma is looking forward. This is how we projected the property to perform. And I think the T comes from trailing and it's the trailing 12 months looking backward. And how did it perform? So it can be really helpful. I love that. It's, it's a novel, it's the story of how the property.   Jonathan: Yeah. Well, I mean, I guess they couldn't make up those numbers, but they technically are not supposed to.   Michael: It's bad form.   Jonathan: Yeah. But that's why you back it up, you looked at like bank accounts, utility statements, rent, rolls, everything leases. And you kinda like look at everything. Like the due diligence process is huge and lengthy and if you're doing it right, you know,   Michael: If someone says it's easy, they're not doing it right.   Jonathan: Exactly.   Michael: Awesome. So what, having done it now, are a couple of different times, Jonathan, what would you say are some of your top tips for those who are just getting started investing out of state?   Jonathan: You mean like what to do when vetting vendors and that of thing, or just to do it in general?   Michael: Or it could be, it could be high level of like, Hey, you know what? I've invested, you know, I bought a house ‘cause I think a lot of investors on the marketplace own their own home. And so I understand what that process looks like, but I cannot imagine what it would be like to go buy a property out of state. I have no idea, conceptually, physically, emotionally, how that would work. How would it make me feel? What would you recommend it to those folks?   Jonathan: First? From my end, like it took me like two, three years to actually take the jump and go out of state and actually feel comfortable with that because I, you know, I'd done hundreds of deals in LA and I was like, I can't leave LA, this is crazy. Like, why would I ever do this? This is like the sure thing. Right? Yeah. You know, but like real estate, there's some inherent risks and you got to take the plunge sometimes. Right.   Emil: I'm always curious to know, like it's really hard to mentally get over that feeling of, okay, I'm going somewhere where I can't just drive to the property. And like you mentioned, you were already doing stuff locally. So I feel like that's a double mental barrier. I'm curious if there's like, what kind of just got you over the hump? Was it the, the potential reward and it was, you know, early enough in your career?   Jonathan: Yeah. I mean, another thing too is like in LA we have rent control and the cities, we don't have rent control. So you can, you could give someone a notice to move out in LA you can't just give someone a notice to move out. You kind of have to either pay for them to leave or you're stuck with them. So like for example, like I've just had a lot of like, like scariest situations with tenants, like psychopath tenants that call me for every smudge on the wall and I've come to my office and cuss me out because they're basically a psychopath. And I can't just tell this person to leave in 60 days. I literally I'm stuck with them and I'm like, I should have the freedom and the right to tell someone to leave if they're a pain in the ass. Right. So that was a big one. Um, so not having to deal with that, like in Oklahoma, the property manager basically said I can evict someone in 21 days. I mean, I'm not advocating for just throwing people out, but I'm just saying, if you have a problem person, you can get them out quickly.   And that, to me, that was important. I think the most important thing is just picking the right team, right. Picking the right property manager, picking the right contractor, the right broker is all that like vetting them, getting referrals, you know, like one thing I heard someone that they do is they pick like a lot of times that the property managers will have the buildings that they manage on the website. And you'll be like, I want to talk to the owner of that, building, that, building that building. And I want to talk to them to see how their experience has been. Right. So you get like a random, they can't just give you their best referrals that are going to talk the best about them. Right. And then also like shopping their existing listings. So like having like maybe like a burner email where you email a couple of their listings and see how quickly they respond.   Cause that's important. Like, I, she just did that with my property manager in Kansas city because they were having some trouble leasing, one of the units and I sent an email to the advertisement and they actually responded in an hour. I was like, wow. Okay. That's, that's, that's really good. You know, as long as they respond within 24 hours, I think that's really important because if you don't then you lose that person. Right. And then I think the other really important thing, like before I would buy anything, I mean maybe if you're buying like a single family home, it's not as big of a deal, but if you're doing like a larger investment, I would just go there, meet these people in person and actually get a feel for the area. Because like any big city, different pockets could be different from each other. So like, if you go North or West from a certain street or freeway, it could be completely different. And then over time, you'll kind of figure out the different areas that are the best and that will work. And that's why it's important to kind of focus on like one or two cities and not being like 10 different cities, I would say.   Michael: Yep. I love it.   Emil: These a solid, solid tips. I also, uh, I wrote this down. It's kind of a takeaway. I love that. You know, for you, you started small granted it's in Los Angeles, so it's a more expensive market, but you started small. You started with duplexes at the time.   Jonathan: At the It was an expensive market.   Emil: Yes, exactly.   Jonathan: When I first started, it was actually somewhat reasonable.   Emil: Yeah. Yeah. But you started small, you were in a good market, you know, you waited this, wasn't like a year down the road that you were able to leverage it. And some of these things…   Jonathan: We're talking like a decade here, you know, like I think that's also a big misconception people have. They want it like right now, they want to like have a, you know, and it just takes time. Like real estate takes time. You need to buy it, hold it for awhile. And then that's when the magic happens. Right. It doesn't happen overnight.   Michael; Wait, I'm forget this whole real estate thing. I'm out.   Emil: If you follow people on YouTube, certain gurus. Yeah. They'll tell you, you can be a millionaire in like six months, but don't listen to them.   Jonathan: Don't listen to them for sure. And that's another thing too. It's like a lot of people, another big misconception is you don't need money to do this. I mean, you could raise it from other people, but if you don't have experience or money, you kind of need one or the other, you know, like, it's good to work in a W2 for 10 years and really save up some capital and then get into it, you know? And you learn a lot in those businesses and companies and how the world works and whatever. Right.   Emil: A hundred percent couldn't agree more.   Michael: Yeah. Yeah. I'm right there with you.   Emil: All right. Michael, anything else you want to ask before we do the wrap up?   Michael: No, this has been killer. This has been killer.   Emil: Cool. So Jonathan, we'd like to kind of ask a random question on every episode, but before we get insurance, what is the best way that people can get in touch with you if they want to get in touch, chat with you?   Jonathan: Yeah, just go to my website. JB2investments.com or email jb@jb2investments.com.   Michael: And Twitter right?   Jonathan: And Twitter. Yeah. You look at me up on Twitter. That works too. It's just my name and then there's some numbers. I think if you go to my website, if you email me, that's, that's probably the best way.   Emil: Awesome. Yeah. Cool. Alright. So random question for you. What is something new that you've picked up during, since lockdown started since COVID hit something new real estate wise or, or any, it could be like, no, just in general, general habit. Yeah. Like, I don't know. One of our other coaches started slacklining at home. That was kind of his new thing during COVID.   Jonathan: What's slacklining?   Emil: Oh dude. It's, it's the best. It's a, where you tie a Slack line between two posts and then, you know, your people like walk across them and do like the balancing thing. You see parks and stuff.   Jonathan: Yeah. I've seen, I know we were talking about, I guess a lot of people have time on their hands. This person must not have kids or maybe they do.   Emil: He just had a kid. It was, it was when the baby was like brand new though.   Michael: So, you know, like before his baby could walk and crawl, you could just set it down and identify where it was going to be when he got off slackline.   Jonathan: Um, I think, I think what this time is, I guess taught me or, or maybe not something necessarily new, but just like patience, you know, because like, you know, we left the business in January and then basically started our business and then COVID hit and then we're like, Oh. You know, it basically put like everything on hold for like almost six months, you know? So like filling that time and being patient and keeping at it and knowing eventually it would happen and like taking incremental steps every day. I think that's a big part of being a real estate investor is like the psychological side of it because there's a lot of ups and downs and how to deal with that.   And like all the different things that you need to deal with and things that come up and you gotta be mentally strong to be able to handle those things. And so building that, this was a good time to really build that. I guess you could say.   Emil: Yeah. That is a very important skill that nobody talks about real estate investing is just having like mental fortitude because you're eating crap all along the way. Like there's just constant things and pain.   Jonathan: Yeah. The wins are like only every once in a while. Right. But when the wins happen, they're sweet and it makes it worth keeping going. Right.   Michael: Sometimes it's a fire hose of crap. Other times it's just a trickle from a garden hose. There's always something to deal with.   Jonathan: And you literally got a fire hose. Right.   Michael: That's so true. It's so true. I think a fire easier to clean up than all the water damage from the. It's crazy.   Emil: Jonathan. Thanks so much for coming on the show, man.   Jonathan: Thanks guys.   Michael: Thanks so much, Jonathan.   Jonathan: Thank you guys. It was fun.   Emil: Alright big. Thanks to Jonathan again for hopping on this episode with us. If you guys haven't already, I'm sure you're tired of hearing it from me, but please go subscribe to the podcast. Leave us a review. We always like to hear what you guys are thinking. Good, bad, ugly. Hopefully not too ugly, but all the good stuff. And we'll catch you on next week's episode. Happy investing.  

Click here to download our FREE eBookThe House Hacking Success CourseIn this episode Matt from the @the203kway talks about how to use the 203k loan and how it can build huge equity. The 203k loan is like learning to flip a house with training wheels while getting to house hack at the same time. Matt breaks down the process for us in an easy to understand way. Listen to this before pursuing a 203k loan!Links:Matt's Instagram: @the203kway203ksecrets.comInstagram: @househackingsuccesshousehackingsuccess.comClick here to download our FREE eBookThe House Hacking Success Course

Learn why every home inspector should consider adding 203k Consulting" with Catherine Hall of the National Association of FHA Consultants.

In this episode of Let's Talk Real Estate (original air date 2/22/2020), Keith Murray discusses what a 203k and a 203k streamlined can do for a homebuyer. Then, Corina is joined by the Hudkins Law team, who wax poetic on the differences between trusts and wills, and revocable and irrevocable trusts... and why it can make sense to place your home in a trust! Catch the show at 8:30 AM Saturdays on 101.5 WEEI SportsRadio / WZEI FM & 104.9 The Hawk / WLKZ FM, on Podbean, iTunes, and Google Play. Let's Talk Real Estate is sponsored by Cisneros Realty Group powered by eXp Realty; Hudkins Title and Settlement Services; Nano Coating Technologies; and Dana Gunnerson, Agent with Joe Suozzo Allstate Insurance office in Derry, NH. Let's Talk Real Estate is a production of Modern Media Services, LLC, CRGTV, and Mr. Strategic Alliance, LLC. All Rights Reserved.

Matthew Porcaro is an electrical engineer / project manager by day but a savvy real estate investor by night. Like me, he comes from a blue-collar upbringing and now focuses on investing in Long Island, NY.  Key Takeaways: Investing as an Electrical Engineer / Project Manager Steve Larson the Capitalist PIG (capitalist swag) Blue-collar upbringing Working with your dad as a silent partner Find a mentor - Ask GOOD questions Build Relationships that push you The 203k loan defined What is a 203k Consultant? The FHA Guidelines Your first deal will produce unknown momentum Connect with Matthew: 203ksecrets.com Instagram  Episode Affiliate: W2 Capitalist Affiliates Links mentioned in this episode: Real Estate Investing for The W2 Employee Facebook Group Join the W2 Capitalist Mastermind w2capitalist.com/Resources

Click here for timestamps and episode resources. Matt Porcaro has been in the real estate business for 5 years now, and like most people, he entered this world looking for the golden ticket: Financial Freedom. 29-year-old Porcaro, soon realized that by entering the workforce, he was never going to achieve the idea of quitting his 9 to 5 regular job. With the help of one of the greatest money motivators on Earth, Robert Kiyosaki, Matt got his first taste into understanding how people actually get rich.  Matt Porcaro is the vivid image of dream achievement: He graduated from Manhattan College with a Bachelor of Science in Electrical Engineer, and right now he is the Electrical Project Manager for Broadway National, a company that helps facilities like Walmart, Starbucks, UPS, Morgan Chase, and many more to drive down costs and achieve transparency on their electrical services in New York City. Imagine that! Plus, he has been a real estate agent for more than 12 years now and he is the creator of the bestseller, The 203K Way Method.  In this episode, we talk with Matt about how he founded The 203K Way and why he thinks looking for this loan is the best decision he could’ve made in his life. Porcaro shares why having enough money to buy a gaming console makes you richer than most people, and the importance of your first deal in a real estate career. Porcaro is convinced that if every person could know exactly what a 203K loan can give you to get a property and fix it, this move can get you closer to achieving your dreams and securing your financial future. Stay with us in this episode as we learn from 29-year-old Matt why you need to pay for mentorship and all the benefits it can give you in the long term, taking it slow on the rich thing instead of looking for the fast dollar, and why you need to learn a skill you can sell to anyone. Thank you for listening to Respect The Grind with Stefan Aarnio. If you liked this show don’t forget to subscribe, share it with your friends, and leave a review on iTunes.

When it comes to looking for financial freedom and pursuing the idea to achieve so, there are endless stories, but only a handful achieve them before turning 30. Today’s story is shared to prove us all wrong: Even though closing the first deal is one of the hardest things real estate investors have to do, once you have achieved that goal, it is a real eye-opener. That’s what happened to Mathew Porcaro. He spent three years cracking the real estate code and he doesn’t seem to be stopping anytime soon. New York-based Mathew Porcaro, realized at the young age of 24, he was never going to achieve success by working at a regular 9-5 job and that’s when he started getting involved in the real estate universe. As most Income Hacker guests’, Porcaro had his first approach understanding how people get rich with Kiyosaki’s master book. He proceeded to scoop into stocks and options trading, whilst educating himself in the finance journey.  Today’s episode is all about Mathew cracking the real estate code: Making deals of 900% ROI with 9500 USD, applying to 203K loans (only once) and achieving deals to keep buying properties. From trying everything and feeling down to earning $2000 per month from the first deal he made, Porcaro is here to teach us the importance of picking up the correct coach, being careful of the mentors that don’t practice what they preach and transitioning to become the most interesting man in the room. Tune in this Income Hacker episode and listen up, because Mathew will reveal to us the secret to the 203K program!  “Something that I only dreamed of getting is something that is now happening to me all the time, and that is because of that one deal.” Mathew Porcaro   Podcast summary: 02:31 - What is the 203K loan and how Mathew used it to start his real estate investing career.  08:23 - Not the sexiest way to do it, but getting rich slow is the way to go. 13:22 - The power of finding someone to hook your wagon to and how you can find your way to success through a mentor. 17:00 - A lot of paperwork involved: qualifications you should consider before applying for a 203K loan. 22:14 - How a single FHA loan opened plenty of doors and liberated Mathew from using conventional bank financing. 24:33 - Why you will only want to apply for a 203K loan once. 29:32 - How Mathew wrapped up the FHA loan and obtained a glorified line of credit for it. 32:20 - The snowball of wealth: from struggling every day to becoming the most interesting man in the room. 35:35 - How developing a worksheet and finding a reputable contractor will result in wonders for your next project. 44:11 - How hiring a 203K consultant can help you save money on your next contract. 45:34 - How money volatility inspired Mathew to pursue financial stability and help other people.   Connect with Mathew Follow Mathew on Instagram   Episode Resources Mathew’s manifesto  You2 by Price Pritchett

Click here to download our FREE eBookThe House Hacking Success CourseIn this episode Matt Porcaro (@the203kway) gives us his background and how he became an expert in understanding the 203k loan. He will show you how he used a 203k loan and how it funded his rehab and added over $100,000 of equity to his property!•He teaches us how to connect with the necessary people to pull off a 203k loan! Why using it can be like using training wheels to understand flipping and renovating homes!•Matt gives us his “60 second hack” to find experienced FHA 203k lenders who will know how to close and execute your deal!•He tells us the top 3 things that newbies get stuck on when getting started in real estate!•He tells us how to pick contractors!•He explains how long we must live in the project! We also learn the best strategies to approaching a 203k loan and why it's a great idea for your first or next house hack!Click here to check out the203kway masterclass!Click here to get Matt's free ebook Links:5 Reasons You Should Househack!10 Ways to Finance Your Househack!Using Facebook as a Real Estate Resource!Follow us on Instagram:@househackingsuccess@bradleylabrie@drewkling115Visit our website at househackingsuccess.comTo join our email newsletter text HOUSEHACK to 22828!

Would you believe me if I told you that you can buy your first rental property, rehab it and only have to come up with a 3.5% down payment? It's true! No more worrying about finding properties within your price range, yet to find the funds to fix it up. When discussing Matt's journey through his first 203k loan, rehab and rental process, you'll quickly realized that this is the ultimate "flip on training wheels" strategy that almost anyone can do. Use this episode as a guide to finally get off the sidelines and START chasing your real estate goals! START FM'S INSTAGRAM: https://www.instagram.com/officialstartfm/ START FM'S SHOWNOTS: http://chadduval.com/blog/CHAD DUVAL'S INSTAGRAM: https://www.instagram.com/iamchadduval/ MATT PORCARO'S INSTAGRAM: https://www.instagram.com/the203kway/ MATT PORCARO'S WEBSITE: https://www.the203kway.com/ You can find the transcript of this episode HERE. Transcripts of all episodes can be found HERE.  

[et_pb_section fb_built="1" admin_label="Trailer" module_class="bg-animate-bottom" _builder_version="3.29.1" background_color_gradient_start="#3a5775" background_color_gradient_end="#082342" background_enable_image="off" height="120px" custom_padding="0vw||0px||false|false" bottom_divider_style="mountains2" bottom_divider_color="#929da5" bottom_divider_height="30px" fb_built="1" _i="0" _address="0"][/et_pb_section][et_pb_section fb_built="1" module_class="bg-animate-bottom" _builder_version="3.29.1" background_color="#929da5" use_background_color_gradient="off" background_enable_image="off" custom_padding="0vw||10px||false|false" bottom_divider_style="mountains2" bottom_divider_color="#7ec34d" bottom_divider_height="30px" bottom_divider_flip="horizontal" fb_built="1" _i="1" _address="1"][et_pb_row _builder_version="3.29.1" _i="0" _address="1.0"][et_pb_column type="4_4" _builder_version="3.29.1" _i="0" _address="1.0.0"][et_pb_post_title categories="off" _builder_version="3.29.1" title_text_color="#ffffff" title_font_size="36px" meta_text_color="#f2d543" text_orientation="center" _i="0" _address="1.0.0.0"][/et_pb_post_title][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built="1" specialty="on" module_class="bg-animate-top" _builder_version="3.29.1" background_color="#e1e6ea" custom_padding="0vw||0||false|false" top_divider_style="mountains2" top_divider_color="#7ec34d" top_divider_height="50px" bottom_divider_style="mountains2" bottom_divider_color="#f2d543" bottom_divider_height="50px" fb_built="1" _i="2" _address="2"][et_pb_column type="1_2" specialty_columns="2" _builder_version="3.25" custom_padding="|||" _i="0" _address="2.0" custom_padding__hover="|||"][et_pb_row_inner _builder_version="3.29.1" background_size="initial" background_position="top_left" background_repeat="repeat" custom_padding="80px||0px|||" _i="0" _address="2.0.0"][et_pb_column_inner saved_specialty_column_type="1_2" _builder_version="3.29.1" custom_padding="|||" _i="0" _address="2.0.0.0" custom_padding__hover="|||"][et_pb_text _builder_version="3.29.1" text_text_color="#082342" background_size="initial" background_position="top_left" background_repeat="repeat" custom_padding="0px||0px|||" hover_enabled="0" _i="0" _address="2.0.0.0.0"] How to Wholesale Real Estate With Little or No Money If you’ve been looking for your WHY? look no further than today… Coaches Corner is on your way! Income Hackers welcome to Coaches Corner, the show where you get the chance to experience a LIVE personal coaching session with people from every background at any stage of their real-estate careers.  Today, we will learn how to raise capital for real estate investing, what is the BRRR method and why it is the perfect strategy to build your own real estate empire. You can wholesale real estate with little or no money when applying yourself and the techniques discussed here. Meet massage therapist Joshua Tharian, and dive deep into house hacking by listening to our Income Hacker conversation! Discover how exactly seller financing works, and the art of wholesaling houses to make a profit.  Joshua’s biggest dream is to make his first investment in real estate and he already has found some juicy deals that appeal to him. However, he’s struggling with gap financing and coming up with the money when opportunity strikes. Fortunately, Ryan has some tricks under his sleeve to get the ball rolling with little or no money, and he’ll open up the window of possibilities to strategies that will help Joshua get creative! Joshua’s background: Joshua is from Oklahoma City. He has been living in Dallas, Texas for the last 10 years. He is a licensed massage therapist who likes to help people regain their health. Joshua’s WHY? Supporting his family and gaining control of his work-life balance He is currently living his training phase in the real estate business He doesn’t have any deals accomplished yet, but has seen many opportunities present to him in recent times). Joshua doesn’t own or has owned any properties so far.  Resources: Investor's Edge Software [/et_pb_text][/et_pb_column_inner][/et_pb_row_inner][et_pb_row_inner _builder_version="3.29.1" custom_padding="||0px|||" _i="1" _address="2.0.1"][et_pb_column_inner saved_specialty_column_type="1_2" _builder_version="3.29.1" _i="0" _address="2.0.1.0"][et_pb_text _builder_version="3.29.1" text_text_color="#082342" background_size="initial" background_position="top_left" background_repeat="repeat" custom_padding="0px|||||" _i="0" _address="2.0.1.0.0"]   [/et_pb_text][/et_pb_column_inner][/et_pb_row_inner][/et_pb_column][et_pb_column type="1_2" _builder_version="3.25" custom_padding="|||" _i="1" _address="2.1" custom_padding__hover="|||"][et_pb_vertical_timeline _builder_version="3.29.1" _i="0" _address="2.1.0"][et_pb_vertical_timeline_item title="07:32" font_icon="%%373%%" icon_color="#ffffff" circle_color="#3a5775" line_color="#7ec34d" _builder_version="3.29.1" headings_font_size="18px" _i="0" _address="2.1.0.0"] Why real estate is simple but not easy, and why people tend to give up too early.  [/et_pb_vertical_timeline_item][et_pb_vertical_timeline_item title="08:36 " font_icon="%%373%%" icon_color="#ffffff" circle_color="#3a5775" line_color="#7ec34d" _builder_version="3.29.1" headings_font_size="18px" _i="1" _address="2.1.0.1"] What’s keeping Joshua stuck: not getting the capital necessary to make the deals happen.  [/et_pb_vertical_timeline_item][et_pb_vertical_timeline_item title="09:59 " font_icon="%%373%%" icon_color="#ffffff" circle_color="#3a5775" line_color="#7ec34d" _builder_version="3.29.1" headings_font_size="18px" _i="2" _address="2.1.0.2"] How to make deals happen with little or no capital through FHA loans or 203K loans, and what is house-hacking. [/et_pb_vertical_timeline_item][et_pb_vertical_timeline_item title="13:50 " font_icon="%%373%%" icon_color="#ffffff" circle_color="#3a5775" line_color="#7ec34d" _builder_version="3.29.1" headings_font_size="18px" _i="3" _address="2.1.0.3"] The process by which you get a 203K loan and the benefits of having a 203K inspector value your property. [/et_pb_vertical_timeline_item][et_pb_vertical_timeline_item title="21:14 " font_icon="%%373%%" icon_color="#ffffff" circle_color="#3a5775" line_color="#7ec34d" _builder_version="3.29.1" headings_font_size="18px" _i="4" _address="2.1.0.4"] The BRRR method: buy, rehab, rent and refinance.   [/et_pb_vertical_timeline_item][et_pb_vertical_timeline_item title="26:40" font_icon="%%373%%" icon_color="#ffffff" circle_color="#3a5775" line_color="#7ec34d" _builder_version="3.29.1" headings_font_size="18px" _i="5" _address="2.1.0.5"]  What is wholesaling, and why is it a great way to get started in real estate. [/et_pb_vertical_timeline_item][et_pb_vertical_timeline_item title="30:25 " font_icon="%%373%%" icon_color="#ffffff" circle_color="#3a5775" line_color="#7ec34d" _builder_version="3.29.1" headings_font_size="18px" _i="6" _address="2.1.0.6"] Wholesaling via seller-financing and how it can get you “interest-free loans” that’ll save you hundreds of thousands of dollars! [/et_pb_vertical_timeline_item][et_pb_vertical_timeline_item title="35:13 " font_icon="%%373%%" icon_color="#ffffff" circle_color="#3a5775" line_color="#7ec34d" _builder_version="3.29.1" headings_font_size="18px" _i="7" _address="2.1.0.7"] Taking a property subject to the existing loan that is on the property. [/et_pb_vertical_timeline_item][et_pb_vertical_timeline_item title="37:54 " font_icon="%%373%%" icon_color="#ffffff" circle_color="#3a5775" line_color="#7ec34d" _builder_version="3.29.1" headings_font_size="18px" _i="8" _address="2.1.0.8"] Keeping things in check with escrow companies. [/et_pb_vertical_timeline_item][et_pb_vertical_timeline_item title="39:36 " font_icon="%%373%%" icon_color="#ffffff" circle_color="#3a5775" line_color="#7ec34d" _builder_version="3.29.1" headings_font_size="18px" _i="9" _address="2.1.0.9"] What are all-inclusive trust deals or wrap-around mortgages [/et_pb_vertical_timeline_item][et_pb_vertical_timeline_item title="46:05 " font_icon="%%373%%" icon_color="#ffffff" circle_color="#3a5775" line_color="#7ec34d" _builder_version="3.29.1" headings_font_size="18px" _i="10" _address="2.1.0.10"] Wholetailing… what happens when wholesaling and retail have a baby. [/et_pb_vertical_timeline_item][et_pb_vertical_timeline_item title="48:11 " font_icon="%%373%%" icon_color="#ffffff" circle_color="#3a5775" line_color="#7ec34d" _builder_version="3.29.1" headings_font_size="18px" _i="11" _address="2.1.0.11"] Why is the fix-n-flip game (also known as retailing) the hardest and most risky transaction to do in the game?  [/et_pb_vertical_timeline_item][et_pb_vertical_timeline_item title="49:19 " font_icon="%%373%%" icon_color="#ffffff" circle_color="#3a5775" line_color="#7ec34d" _builder_version="3.29.1" headings_font_size="18px" _i="12" _address="2.1.0.12"] Creative ways to come up with cash using your credit card or partnering with somebody. [/et_pb_vertical_timeline_item][/et_pb_vertical_timeline][/et_pb_column][/et_pb_section]

Episode 73

Episode 72

In this episode I talk about the 121 exclusion which a partner of mine told me about that I didn't know about in addition to the well known 1031 exchange. If you live in the unit and decide to sell it after 2 years but in less than 5 years, the 121 exclusion allows you to not pay on the capital gains accumulated if it's less than 250K I'm gains...fascinating. I also cover my he importance of knowing the tools you can used during the (1) ACQUIRING phase (FHA, conventional, 203K, conventional rehab loans, VA, etc.) (2) HOLDING phase advantages, tax breaks and (3) EXIT STARTEGY incentives (1031, 121 exclusion, etc) if you know more give us a shout and comment - we are leveraging, building and learning everyday!

Matt Porcaro feels like he has tried it all when it comes to making money outside of a 9-5 job. Whether it be stocks, real estate or affiliate marketing he has dabbled in it all. Well this wouldn’t be a good real estate show if we didn’t talk about how he finally found success on the real estate side of things. Specifically we talk about what a 203k loan is and why it is such a great product to get started in real estate investing. So many people want to flip or do rehabs to properties, but many don’t know where to find the money to do it. Well with a 203k loan or similar (HomeStyle) you can purchase and rehab the property all under one loan! Matt tells us how doing just this helped him get started and allowed him to continue in the real estate world all for less than $10,000 to start. If you’ve heard of BRRRR or House Hacking this takes both and we may as well call it BRRRR Hacking.

In the second hour, Chris & Annie welcome Jeff Kobold, Branch Manager & Senior Loan Officer from Fairway Mortgage in Hyannis. They discuss prime rates, renovation loan programs, 203K loans, PMI, aging in place, reverse mortgages & more! Jeff closes the hour sharing information on Fairway Mortgage and how the branches are managed. For your free home booklet, contact Jeff @ 508.221.6254 or www.CapeCodLoans.com.

Hi, this is Gina Mullen with Gina Mullen Realty and today we are going to talk about a 203K Loan, which people refer to as, you know, “That loan that I'm going to get that is going to help me renovate my house.” So most people think that when you do a 203K Loan, that you're going to take out a mortgage that's going to be over the cost of what you paid for the house and that the mortgage company is going to hand you the lump sum of money so that you can go ahead and make the updates and renovations to the house that would increase its value. But that is not the way that it works. Yes, you do get a mortgage and it is for more than what you paid for the house, but you have to hire contractors to do the work. You cannot do the work yourself and you will have to provide the mortgage company with the progress all along the way. So this requires you to find a contractor that is insured and bonded. They need to submit an estimate to the mortgage company. You're real estate agent would need to send in comps to the mortgage company to show that the market will allow for the renovations to be done and it still not be underwater. You have to provide progress along the way. You will have an inspector that comes to the house to make sure the work is being done, that it's been done properly, that all permits have been pulled, and that the people that are doing the work on the house are people who are professionals in doing that. So a little bit of a different scenario than what most people think with a 203K Loan. So if you're thinking of buying a home and flipping it, keep that in mind that yes, you can get a mortgage for more than what you pay for the house. However, you will have some oversight by the mortgage company on who does the work and how the money is spent. If you have any questions, please give us a call at Gina Mullen Realty. Thanks.

Karen Malanga: Hi! This is Karen Malanga welcoming you to this week’s House Talk. Today, I’m so excited to have Matt Silver, the owner of Mountain Mortgage here in Bend. And what an appropriate name for Bend, Oregon especially with the snow hitting Mt. Bachelor lately. So Matt, welcome to the program. Matt Silver: Thank […] The post What is a 203k Rehabilitation Loan? What are the pros and cons? appeared first on NestBend Real Estate.

My conversation with Mike Young. Mike is a national 203(k) Renovation Loan Expert. The FHA insured loan helps homeowners purchase and remodel a home and finance the purchase and rehab with a single loan. Mike's team of consultants, home inspectors and contractors are ready to help you take "blah" - to WONDERFUL! Learn from Mike as we discuss changes to the program and learn how home inspectors can get support and consultant training. Join Mike's Team and Contact Information my203kconsultant.com/ Mike's Radio Show: Love My Renovation Project my203kconsultant.com/radio-show I'm Gary Smith and we've worked with the 203(k)program for 20 years. Call me or drop by my website for support in central MS: www.garynsmith.net Catch Today's Home Inspector is online: www.todayshomeinspector.com

On this episode, Ron Ricchio & George Ristau issue the ultimate guide to securing an FHA loan and how to use a 203k loan in order to get necessary repairs and updates to your new home. A 203k loan can be the perfect options for many types of buyers, whether you're shopping for a detached home or town home. In addition, a 203k loan can be used to purchase income properties, like 2-4 flat buildings.

Guest Today: Tye Swenson - Swenson Construction Adam Talley with Talley Insurance -  Builders risk policies   Why is Construction so expensive? Why does permitting take so long? What should I do here? When can you start? Why are you the only contractor that called me back?    

– Renovation Loan products! Do you know what they and are they from you? 203K?  Homepath? and more! In studio is the premier mortgage expert, the Senior Vice President of bemortgage, yes, that’s Tim Brigham – Did you hear how to lose clients? Some funny and not so funny stories from our very own Meldina Dervesivic, […]

I brought my realtor, NaToya Joshua in to discuss the initial process of purchasing a home. We covered the benefits of purchasing a home, pros and cons of the FHA, 203K & Conventional loan, why owning can improve the quality of your life and more. Ownership is everything and never let let them tell you otherwise. Please press play and enjoy this episode. You can find me on the following social media networks: Twitter - @kingnaj Twitter - @MindOvrMatter_ Instagram - @kingnaj

Brian Damico interviews James Khoury about his work with 203K Rehab loans. If you have questions or are looking at a property that may be right for this reach out to James at James@NewFED.com or call him at 7812411234 NMLS# 1881. This and lots more on this week's episode of Easy Money New England!

Maggie Ambruster will be on the first half hour to talk about 203K/renovation loans. Not sure yet, but hope to have someone on for tomorrow's second half hour to talk about USDA loans.

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On this episode of Secrets to Real Estate Investing by House Flip Masters, Holly is joined by guest Matt Cady. Matt is going to share tips about financing for listeners especially those who might be confused about how financing works. Matt has been a mortgage consultant for 17 years with a background in construction financing. In 2007 when most construction products went away, Matt started providing renovation loans. Matt works in San Clemente California for a Summit Lending.  Holly says that often times people who want to get into house flipping don’t have lots of cash or want to take advantage of the tax free capital gains that you can get from living in a house for two years. Holly asks Matt to compare for listeners  the possible different scenarios. Matt says these programs are great for those who want to minimize their down payment and to have a better alternative than a hard money loan. He explains that renovation loans will save you about half the money in interest that you would normally pay with a hard money loan. According to Matt, renovation loans are applicable to both FHA and conventional purchases.  He gives the example that a buyer who is going to live in the house would only have to put down 3.5% of the total cost of the house with an FHA loan. Holly adds that with hard money loans, 2 points are usually added to them which means that renovation loans definitely will save over half of the interest expense on the loan.  Holly asks Matt to share what the rules are on the amount of money a person can borrow for renovating a home. Matt explains that a limited 203K is for minor cosmetic repairs, and there is a cap at $25,000 of the repaired value. Matt also says that because the limited 203K requires less documentation, more lenders offer this but Matt  has seen people take as much as $100k for renovations. When asked about exclusions on the loans, Matt explains that you cannot add an in-ground pool or a built-in barbecue with the money from the loan.  Holly asks Matt about options a buyer has if they are not going to live in the home.  In that case, Matt points out that a Fannie Mae HomeStyle Renovation loan can be used, which is a conventional loan with a minimum down payment of 15%. However,  Matt suggests putting down 20% because mortgage insurance is really expensive on investment properties. The down payment is determined by the price of the property plus the cost of repairs.  Matt says that he doesn’t deal a lot with flippers because if the house is flipped and sold within six months, lenders be heavily penalized. Holly adds that with hard money, lenders do not have as many parameters and guidelines as loans that are provided by the government. Hard money lenders look at debt to income ratio and where the income is coming from, and they are willing to give money more easily  and quickly than the loans that Matt offers.  Matt details how the programs that he utilizes works. The loans offer a "contingency reserve," which means that whatever the cost of the renovation, they will lend an additional 10% in case the renovation expenses are more than planned. He also says that another great thing about this program is that it is "fund controlled." Matt says that with both FHA and conventional loans, you can work in six months of mortgage payments so that you can “skip” six months of payments.  Holly and Matt discuss the contingency reserve a little more in terms of using it when a project is nearing completion. For example, if the buyer had the reserve remaining and wanted to upgrade the flooring from laminate to hardwood, the loan could be used to help offset the cost of the upgrade. Holly asks if the money can be used for energy efficient renovations. In California energy efficiency is something a lot of investors look into. Holly asks if this loan covers changes like solar panels, and Matt explains that it does. Holly and Matt discuss the expected time needed for

If you’re looking to buy a home, you might consider taking out an FHA loan. I’ll go over what an FHA loan is and why it might be a good option for you as a buyer. Thinking of selling? Get a free home valuationThinking of buying? Search all homes for sale on the MLS  If you’re looking to buy a home, you’ve probably heard the term “FHA loan.” Today I’ll go over what an FHA loan is and how it can benefit you as a borrower. An FHA loan is a mortgage that is insured by the Federal Housing Commission that requires a lower down payment on the condition that buyers pay property mortgage insurance as a part of their monthly mortgage payment. The property mortgage insurance allows lenders to offer loans to borrowers at much more attractive interest rates with lower down payments. You can qualify for an FHA loan with a lower credit score as well. The minimum down payment on an FHA loan is 3.5%, but it can be as high as 5%. Borrowers can use their own savings, a gift, or a grant for their down payment. The FHA does allow borrowers to get assistance from their lender, the builder, or the seller to help with closing costs. Although, if the lender helps with closing costs, they typically charge a higher fee on the loan. The FHA is an insurer, not a lender, so it’s important to get your FHA loan from a qualified FHA lender. FHA loans also require a two-part mortgage insurance. The first part is paid at the close of escrow, which is equal to 1.75% of the purchase price and can be rolled into your loan. The second part is paid during the life of your loan. The FHA also has a special loan product for borrowers who are purchasing a private property that may need repairs called the 203K. The FHA is an insurer, not a lender, so it’s important to get your FHA loan from a qualified FHA lender. If you are looking to buy or sell a home, or if you have any other real-estate related questions, please don’t hesitate to give me a call or send me an email. I’m happy to help!

FHA 203K loans and conventional renovation loans actually have a lot in common. You should, however, know the two main differences if you're considering a loan with rehab costs built in.Check out the next Agent MastermindApply OnlineWe had another question from an agent that we wanted to address today. The question was, "When dealing with a repair loan, I have made it through an FHA 203K; however, is there a conventional product as well, and what are some of the differences?"This is a great question. Yes, conventional does have a repair loan like FHA's 203K, and it's called the Fannie Mae HomeStyle Renovation loan. One of the biggest differences between a 203K loan and a conventional renovation loan is the same difference between an FHA loan and a conventional loan. With FHA, the private mortgage insurance lasts for the life of the loan, no matter what your down payment is, as opposed to a conventional loan, where PMI will drop off when your loan balance reaches 78% of the purchase price. This is just one of the benefits of a conventional loan over an FHA loan.Additionally, FHA 203K loans only let you make repairs to the property itself; you couldn't add a pool or a fence since the repairs must be within the structure of the home. Conventional home renovation loans allow you to do pretty much whatever you want with the property, so you could install a pool or fence or update the landscaping. Other than two big differences, both loans basically parallel each other. Other than these main differences, both loan types basically parallel each other in terms of their guidelines. Both loan programs will lend on the total price of the project, meaning the price of the home itself and the cost of the repairs. With these two loan packages, some people get confused about the involvement of an HUD consultant. With the FHA 203K loan, an HUD consultant will only be required when the total cost of the rehab exceeds $35,000. This actually parallels the Fannie Mae HomeStyle Renovation loan in that if the total cost of the rehab project is more than $35,000, we are going to require an HUD consultant to oversee the project along with the general contractor making the repairs. Now, this is just a general breakdown of Fannie Mae HomeStyle Renovation loans in a nutshell. Feel free to share this information with your clients or anyone you know who is interested in a home renovation loan! A lot of different factors come into play with this type of loan, so if you have any questions at all about them, give me a call or send me an email. I would be more than happy to help you out.

Looking at buying a fixer upper? The 203K loan product can leave you with the money it takes to fix 'er up!

How to Get the Best Price for Your Home If you’re planning to sell your home, whether it’s a buyer’s or seller’s market, one thing you don’t want is to leave money on the table. But how can you stop this from happening? How do you know you’re getting the best deal for your home?On this episode of How’s the Market: Real Estate. Real Answers, Nancy Braun, owner of Showcase Realty, along with Wes Pruitt of Reliance First Capital discuss how to get the best price for your home. Listen to it now!Highlights:A great tool is to have a pre-inspection. I know locally we don't really invest a lot in that but it could go a long way if you market the home as pre-inspected and everything's been repaired per the inspection report. That's gonna really give a buyer a lot of confidence in the home and maybe showcase your house above all the others. - Nancy BraunMost things around the house only last a certain period of time. Paint and carpet for example. They need to be redone and your professional should be telling you those things when they come in and review the house. - Wes PruittFor the seller, if you have equity in the home and you have fairly good credit, a HELOCK is a fantastic program, it's a short loan, a home equity line of credit. That is a tremendous avenue in order to get the repairs done if that's what you need to do. Wes PruittFHA has a fantastic 203K program. The buyer could look at a 203K and include that in the budget in order to get repairs made upon purchasing the home. - Wes PruittStudies have shown that 90% of the buyers found their homes on the Internet. The Internet's key. That's why it's very important that your pictures and virtual tours on the Internet really showcase the home. - Nancy BraunIf you're selling a home, you are probably ready to buy a home as well so rather than waiting until your home's sold, you should call a lender and get pre-approved so you know how much money you may need to set aside to purchase your next home. - Nancy Braun

Today we talk with Kerry Langley of Synovus Mortgage about how his company collaborated with Southeastern builders, HERS raters, and homebuyers to make an absolute killing for everyone involved. Corbett: "Why hassn't everyone been lending money this way?" Kerry: "I have absolutely no idea." YOU NEED TO HEAR THIS.

Skip Schenker, founder of Ready4Remodel, will discuss the intricacies, benefits and the ability to increase returns utilizing the well-known, but under-utilized, 203k renovation financing.   Increased loan trades and real estate offerings from HUD, FNMA & Freddie create a huge opportunity for 203k financing as the focus and requirements is neighbor stabilization. 

Get the latest and greatest Real Estate news from Chantel Ray of Chantel Ray Real Estate! What would you do if you found a property that you want to buy a fixer upper but it needs a lot of work?! Listen to Chantel Ray of Chantel Ray Real Estate and Nathan from Movement Mortgage (formerly New American Mortgage) as they talk about the FHA Rennovation loan programs and how that could work for you!

Interview with Chantel - listen to tips on how to have a positive experience purchasing real estate! Find out more information on 203K loans - an FHA product designed for renovation loans. Learn why it is important to be pre-approved before you start looking for your dream home.

http://thereiminute.com/financing-flipped-homes-with-203k-loans With the recent waiver of the FHA 90 Day Seasoning waiver the first time homebuyer's tax credit this is a great time to sell pretty homes but did you know you can sell homes in need of repairs and get the repairs finances as a part of the loan? Check it out as we explain the HUD 203k loan program.