Podcasts about emil a

"Şəhər adamı"nda qonaq olan "Azərsun Holding" MMC-nin İnsan resurslarının idarəolunması departamentinin müdiri Emil Ağarzayev ilə maraqlı söhbətimiz baş tutdu. 

Pit-stopda bu dəfəki qonağımız Sığorta eksperti Emil Ağabağırov oldu. Sığorta şirkətləri maarifləndirmə işləri aparması haqqında maraqlı və faydalı söhbətimiz oldu.

Pit-stopda bu dəfəki qonağımız sığorta eksperti olan Emil Ağabağırov oldu. Avtomobilin icbari sığorta haqlar haqqında maraqlı söhbətimiz oldu.

Pit-stopda bu dəfəki qonağımız sığorta eksperti olan Emil Ağabağırov oldu. Sığorta şirkətlərinin xərcləri haqqında maraqlı söhbət etdik.

Pit-stopda bu dəfəki qonağımız sığorta eksperti olan Emil Ağabağırov oldu.Avtomobilinizi xaricə getmədən yaşıl kartla necə sığortalayanacağı haqqında danışdı.

Avto FM-in "Pit-stop"unda sığorta eksperti Emil Ağabağırovla kasqo sığortanın əhəmiyyətindən, sürücülərə hansı üstünlükləri qazandırmasından danışdıq.

Sığorta eksperti Emil Ağabağırov Avto FM-də yayımlanan "Pit-Stop" verilişində qonağımız oldu və kasko sığortanın əhəmiyyətindən danışdı.

Hər gün fərqli müzakirə, faydalı mütəxəssis fikirləri ilə efirdə olan "Pit-stop"da bu dəfə sığorta eksperti Emil Ağabağırovla birlikdə həyat sığortasından danışdıq.

Avto FM-də "Pit-Stop" verilişində qonağımız sığorta eksperti Emil Ağabağırov sığorta sahəsində olan çətinliklərdən, müxtəlif yanaşmalardan danışdı.

"Pit-Stop"da qonaq sığorta üzrə ekspert Emil Ağabağırovla sığorta qaydalarından, yeniliklərdən danışdıq.

"Pit-Stop"da qonaq olan Azərbaycan Sığortaçılar Assosiasiyasının ekspert qrupunun üzvü Emil Ağabağırov icbari və kasqo sığortanın vacibliyindən, bu sığortaların fərqindən danışdı.

"Mehed ei nuta" peateemad 26. juulil: - Kergejõustiku MMi kokkuvõte. Kus on Karmen Bruusi lagi? Rasmus Mägi ja kümnevõistlejad: õnnestujad või mitte? Kas, kes ja millal teeb Eesti kümnevõistlejatest hüppe 8600-8700 punkti tasemele? Kas EMilt võime Eestile oodata medalit? Kes kümnevõistlejatest sinna üldse sõitma peaks? Kus on Eesti kettaheitjad ja muud tõukajad-viskajad? - U20 korvpallikoondis pääses EMil A-divisjoni, kaotades B-divisjonis vaid Serbiale. Veel üks lootuskiir tulevikuks? - Maik Kotsar sõlmis kaheaastase lepingu Euroliiga klubiga Vitoria Baskonia. Ideaalne koht järgmiseks sammuks? - Epeenaiskond jäi ka MM-il esikaheksast välja. Kuidas olümpiasangarite hooaeg nüüd siis nõnda kehvasti läks?

Topic: Transformative Leadership Guest: Rabbi Dr. Ari Berman   Bio:    Rabbi Dr. Ari Berman began his tenure as Yeshiva University's fifth president in June 2017. Under his visionary leadership, Dr. Berman has laid the foundation for the next great era of Yeshiva University. Through a bold academic plan, he has articulated a new business model with investments in key areas such as science and technology, entrepreneurship and innovation, values and leadership and market ready graduates with great jobs and impactful careers. During his tenure, the university has introduced over 20 new graduate degrees in emerging fields including artificial intelligence, cyber security, physician assistant, biotech management, real estate management, special education, marriage and family therapy, MBA and Masters in Holocaust and Genocide Education. He spearheaded efforts to establish new academic centers such as the Emil A. and Jenny Fish Center for Holocaust and Genocide Studies. These efforts have produced significant growth in enrollment as well as in philanthropic gifts including funding for the Shevet Glaubach Center for Career Strategy and Professional Development, the Innovation Lab, new physician assistant and occupational therapy labs as well as state of the art computer science labs. Under his leadership, Yeshiva University has risen 29 places in the U.S. News & World Report. Dr. Berman is widely published in outlets such as Forbes, Newsweek, and the Wall Street Journal. A gifted leader, scholar, and orator, Dr. Berman graduated with distinction from four of Yeshiva University's schools. He earned his B.A. from Yeshiva College, his M.A. in Medieval Jewish Philosophy from the Bernard Revel Graduate School of Jewish Studies, and his rabbinical ordination from the Rabbi Isaac Elchanan Theological Seminary (RIETS). His studies also included two years of learning at Yeshivat Har Etzion in Israel, under the tutelage of the seminal Jewish thinker and leader Rabbi Dr. Aharon Lichtenstein. After making aliyah to Israel in 2008, Dr. Berman completed his higher education with a Ph.D. in Jewish Thought at the Hebrew University of Jerusalem, supervised by renowned philosopher Professor Moshe Halbertal. Dr. Berman has a broad range of distinguished experience in the worlds of higher education and Jewish communal life. He led The Jewish Center in New York City as its Rabbi, served as Instructor of Talmud at Yeshiva College and Herzog College, served on the executive council at Herzog College and was chief executive (Rosh Ha-Merkaz) of Hechal Shlomo – Center of Jewish Heritage in Jerusalem. Dr. Berman is an active and erudite spokesman for the Jewish community. He lectures widely throughout the U.S. and Israel and has written numerous articles on subjects addressing contemporary Jewish thought, modern philosophy and trends in higher education. He is married to Anita Berman and they have five children. In this riveting interview, we cover:   1. Being a Servant of G-d 2. YU on the Rise  3. How the World at-Large perceives YU 4. Gut Decisions 5. Doctoral Study 6. CEO/Business Modeling 7. Rise-Up Campaign & the Quest for 613 'Mitzvos' 8. Life is Short/Different Phases And so much more!

Investing $50,000 in real estate can go a long way toward creating a diversified rental property portfolio that generates strong cash flow, provided that you do it right. Today we are asking each other the question how we would invest this amount of cash. In this episode, Tom, Emil and Michael share how they would invest $50,000 in real estate if they were just starting out, and if they know what they know now. --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Emil: Hey, everyone, welcome back for another episode of the Remote Real Estate Investor. My name is Emil Shour and today I'm joined by…   Tom: Tom Schneider   Michael: and Michael Albaum.   Emil: And on today's episode, we're going to be talking about how each of us would invest $50,000 in real estate, and we're gonna frame it as what we would do with that 50k when we were first starting out, versus how we would approach it now, so let's hop into this episode.   Well, I can't ask what's on your guys's mind? Because we just went through that so, huh… Hmm. You know, I used to have this boss that every every meeting every week, he would come in and just ask some random question to avoid the like, so how's everyone doing? That was like, it's a good way to kind of start a meeting, get like really random answers from people.   Tom: You got an example of one?   Emil: He would honestly as a really weird, he's like a weird dude. But like funny, weird. Yeah, probably not suitable for this show. The ones I remember.   Michael: There was a my, my wife loves David Sedaris. And he does a masterclass and he talks about comedy. And one of the questions he loves asking people was, so when was the last time you touched a monkey? He asked him on this and they were like, oh my gosh, like, can you smell it on me, I was working with him earlier at the zoo today? And he was like, no way and it led to him like being able to go play with the monkeys at the zoo. Like and that's why you should always ask random questions.   Emil: He had asked like 400 people, and they all I never spoke to him again, but that one person…   Michael: The one was a big one.   Emil: Then he finally got to meet a monkey at the zoo.   Michael: Yeah…   Tom: Bad news man, getting a baby monkey and then growing up a lot of sad stories about …like ripping arms off. Anyways, sorry…   Michael: That's a… go hard left fast…   Tom: Yeah.   Emil: All right with that we're gonna hop in and talk about real estate. So the topic today is how do you invest 50k? I think this will be interesting. If Michael ever gets it together here.   Michael: Oh man…   Emil: How would you invest 50k If you know what you know, now, but you're just starting out. So take yourself back to you have your current mind, you're going back to when you first started. So how would you invest 50k? And then we'll talk about you're at where you're at currently, you're 50 grand, you want to invest in real estate? What do you guys? What are we all doing? So who wants to kick off? Going back to the past with 50k?   Tom: So, Tom's gonna go first. I would… So me with real estate investing, I really enjoy real estate investing, but I also really enjoy the kind of passive nature of it, more probably more than Michael and Emil, I think they're like, way more active. So I think this is going to be a good diverse range of responses to this question. So what I would probably do so I'd say there's there's two options, right For me, as I also really like single family off of multifamily, just a little bit less to do plus less turns plus XYZ. What I, I would see this as two options, I can either go to, to pick buy two properties in more kind of class C markets, not not as in like, negative, but like smaller markets, right? Talking about like, maybe Birmingham or buy or like Memphis?     Emil: We'll call it Tier 3, it's classy…   Tom: Sure, sure. Sure. Sure. So the my options would be to that or to buy one property in like a Class B area, you know, maybe a, you know, Atlanta, Raleigh, you know, Dallas, one of those guys and where I am right now, if I had 50k, I'm still trying to deploy as much capital out there. I would get debt for sure. I would, I would max out my debt on it. You know, I … we know well, being conscious of not getting over my tips, making sure that my income could support my debt coverage. But I would probably, I'd probably got two properties in one of those smaller markets. But you know, I might have a old fishing pole in the water on some of those larger markets. If something were to come up, I'd cast a wider net, you know, it's a busier acquisition time. So that's why we deployed by SFR, I would look at those smaller markets max, loan to value most of it… That is what I would do, went a little bit long didn't it… Ehmm, yeah. Done…   Michael: Love it. Would you buy… Would you buy both in the same market? Do you think it would use spread them out? Peanut butter spread, as they say…   Tom: I would probably buy them in the same market. Again, like so important to that to develop a thesis when investing in me is a little bit less overhead. So just using a single property manager, you know, doing that work and finding the right property manager, maybe having them help me out on the acquisition side, as far as evaluating neighborhoods and whatnot. So yes, it's a market. Good question, Michael.   Michael: Love it, love it, love it.   Emil: So, Michael, what would you do?   Michael: I think I'm taking that 50,000 and like Tom gonna go get some debt. But I am probably going to go buy a multifamily building, something a little bit bigger that I could, you know, really, really scale with. And it's probably going to be a little more turnkey, because having done the whole multifamily value, add thing, it can often be a lot more expensive than first anticipated. So something that's, you know, relatively easy, stable. That's why you may go to but in close second, what I'm also going to be considering is going and using a 15%, down DSCR loan and going to go purchase a short term rental, which would probably be a single family out in one of those vacation markets that are out there. But I think it can be a really, really, really great use of cash to generate quick income to then go to buy additional properties.     Emil: Michael, for anyone who doesn't know, what is a stable multifamily property, what does that look like?   Michael: Yeah, it's something that has, it's really good question. First off, it's something that has probably already been rehabbed, either extensively or lightly, doesn't have a whole lot of deferred maintenance, rent is probably going to be pretty close to at market rent. So I'm not going to feel the need to, to get new tenants in place when their leases are expiring, because they're already up at market rent. Just something that has been taken care of, or well maintained. Doesn't need a whole lot of CapEx.   Tom: Short term rentals are interesting. How do you find your overhead as an owner relative to your multifamily single family versus long term versus short term rental? Do you find it pretty similar? I would imagine that there's obviously range like there's variants with each of them, but just general ality generally speaking…   Michael: Yeah, it's a big range and it so depends on like my older vintage multifamily, it's gonna be a little bit even less than some of the expense ratio on that just because that has a lot more maintenance, regular, recurring maintenance type issues. On newer single families, comparing across the board to long term versus short term, short term is definitely more expensive from an expense ratio standpoint. But the income generated is still stronger. And so from a cash on cash return, it's it's still performing quite quite well.   Tom: I bought this as a metric, number of times you as an owner, you have to like make a decision or get involved.   Michael: Oh, see, short term versus long term?   Tom: Yeah, yeah, I would think I mean, I would assume short term rental, like there's a little bit more overhead as an owner. Is that wrong?   Michael: Yeah, I don't think that that's, I would say that there is more on the front end. So like we were involved in the decorations and decision making process around what amenities to include, but from a day to day…   Tom: … FF&E and OS&E those are some acronyms, Michael…     Michael: What's a OS&E?   Tom: Oh, OS&E is operating supplies in equipment, and FF&E is furniture, fixtures and equipment.   Michael: Ahhh!   Tom: No big deal, just drop an acronym…   Emil: A unit count into, what's going on here?   Michael: Yeh, sounds like an accounting term.   Tom: I know about luxury man.   Michael: You're just steeped in luxury. But no, I would say other than that. It's pretty much about as hands off as as long term if not more. So. I've really I've made very few decisions, I've been involved in very few of the conversations, we're looking at converting the garage into additional space so that of course, there's a lot more involvement in but that would be the same as if I was doing some kind of rehab work on a long term rental.   Tom: I heard a great story a description of short term rentals as comparing them to fire trucks and that they're constantly getting turned and washed like a fire truck has been around but oh, it gets it gets a fresh wash every time it goes out. So like while you might think it's a you know, getting beat up a lot it perhaps it is but it's it's getting a lot of Washington. It's like a fire truck. I don't know. I like that.   Michael: Yeah, I think I mean, I think so and it's getting eyes in it every turn. So the festering kind of long term deferred maintenance stuff tends to not be again, for my experience as big of an issue because there's people constantly putting eyes on stuff. And if there's an issue you'll hear about it immediately. Like these tenants are going to tell you because they're paying good money to be in these places. Hey, this is an issue you need to fix it.   Emil: Are you is your short term rental being professionally managed, do you have a property manager?   Michael: Yes, yeah, I'm a full service property manager, I definitely pay for it. But I'm not. I'm not at the point where I can set, you know, neither myself or my wife or I are at the point where we have enough time to be able to learn how to do that remotely for this particular property. And you know, if anyone listening is interested in learning more about short term rentals, we did a podcast episode with Avery Carl, which was a phenomenal episode, in my opinion, where she talks all about the short term rental market, and short term rentals in general and things you need to be aware of, if you're going to get involved in this space.   Tom: Did you pencil… Emil needs to give his answer, but just really last question I have on that… Did you pencil it as a longer term rental as well, just to like, see what…   Michael: I did. And it doesn't work. And so I had to always take in the opinion that it has to work as both because if something changes, I don't want to be stuck holding the bag. And after extra chatting with Avery about the short term rental market, this is out in the Smokies. She was like yeah, but the thing of it is, is the regulations aren't going to change out there. Like it is such a through and through short term vacation rental market, that she is not concerned with it being the next Santa Monica or Santa Monica, city regulators come in and say I can't do Airbnb, because it's always been short term rentals. So that's given me a lot more comfort to say, okay, I'm okay, kind of taking that leap of having it only makes sense as a vacation rental?   Emil: Well, I had one final question. I asked Michael about the third party property manager because I, what I really want to know is how does your time commitment with a third, like you have property management and on a long term and a short term? How does your monthly time commitment in terms of speaking with your property manager being involved? Like how, how much more time is it with the short term compared to long term, if any?   Michael: You know, I have probably spent less time with the short term manager than I have with long term management. I was so impressed by this company, they've been awesome and they're just like really good at what they do. And I think that universally speaking, that's kind of what I would expect in the long term world as well, I have my that one of the best property managers I have is up in Alaska, I hear from him, like once a quarter, unless we're just calling to check, you know, checkup and chew the fact sort of thing. So if a property manager is good at their job, you really shouldn't hear from them, in order for you to make decisions, they could update you and tell you what's going on and this and that. But from a decision making standpoint, if I have to hear from you and talk to you regularly, like it's probably not going very well. Right Emil how would you spend in those 50 G's?       Emil: For me, if I'm just starting out, and I want to invest in real estate, I'm, I like single family as a first starting point. And we can debate this later on a showdown. I think single family is a good way to get started, I think having one tenant, one unit to worry about just a lot less hectic. And so I'd start with a single family, I would want to do a tier two city, somewhere where the climate isn't so severe, right? Like I have properties in Indianapolis and every winter, I'm like, man, our pipes gonna freeze and explode. You know, you hear all those stories. Usually, if you have a tenant who's there, like they're running the water, and that doesn't happen. But you know, if you have a turn in the winner, always think that could happen. So I choose something with a little bit less harsh climate, just because it's going to keep everything solid for a little bit longer. And I'd probably just use it on one property to get something a little bit better, ewe just talked about on a different episode, six things we wouldn't do, again, six mistakes and for me it was buying a really cheap property on the… in the beginning, I get something a little bit nicer, less headache, you know, newer build, that's just going to be an easy learning process for me, because the first one isn't going to be the make or break. It's really you're just like learning how to deal with real estate how to deal with the property manager all this stuff. So having it be something that's going to be better long term is what I would prioritize.   Michael: Are you okay, accepting less cash flow?   Emil: I wasn't in the beginning and on the other end of it now, yes, you should like it's not going to be a huge difference. You think it will be and you know, excel math will tell you different but it's a different story. I think when you get into it.   Michael: How much cash flow, how small of a cash flow are you willing to accept and still consider it cashflow positive?   Emil: For me like even like if you're being conservative, right, like not going oh, best case scenario, right? You're ending up with like at least $50 of cash flow a month right? I think that's a good place to be at least obviously, I…   Tom: Got to beat inflation, got to beat inflation.   Michael: Beat it back with a stick…   Emil: We don't, you know, we're just talking about cash flow and again, these this isn't going to be a make or break for you. You're trying to learn and you're trying to grow. You also have equity building right in a better property that's going to be more dollar like appreciation. 10% appreciation on something that's $250,000 Verse $100,000, you're gonna make more than that equity anyway, right? It's appreciating, it's a higher appreciation.   Michael: So you're sticking to one, one property… One more expensive property?   Emil: Yes, yeah.   Michael: Alright.   Emil: Not even just expensive to be expensive just better quote like a turnkey, nicely done property that I'm not going to have a ton of headache right out the gate.   Michael: Well, there you have it, ladies and gentlemen.   Tom: It's been a few seconds on zero scape, just installed some fake turf on my backyard. It's killer man.   Michael: Is it good?   Tom: Yeah, yeah. And then like if leaves come on it you get the power washer. And just like my my own little zen…   Michael: What about dog puppies?   Tom: That's a thing. But you know, that's where the power washer. And also that's where gates like preventing the dog to go out there. Come in…   Emil: Anyway, anyways, you could also have a dog like mine who we have we have turf in the backyard too. It's like turf in concrete. And he is afraid of it doesn't like walking on turf. So he makes us take him out in the front yard where there's real grass to go. So that's fun.   Tom: He is natural… Michael: Some… double apply.   Emil: He's a purist. He's got a good taste.   Tom: Good for him.   Michael: So Tom, are you saving some of that 50,000, so you can install zero scaping in this investment property?   Tom: Yeah, probably. I mean, the right warranties are in place with the Zero Escape. You're like basically making money when you install it, so…   Michael: Are you, are you working on zero escape installation side hustle?   Tom: I am yeah, I got a, I got a, I got some, I got some hints.   Michael: You need a guy, I got a guy…   Emil: Probably not that awesome on a rental property. Like the ROI on that is, is not great.   Tom: Nooo, problem.   Michael: Depends on who is paying this utilities though…   Emil: Yeah…   Michael: If you include these utilities in your bill…   Emil: It's your tenant.   Tom: Oh…There could be markets Emil, before you jump the gun. There could be markets with it makes a ton of sense, Las Vegas, Arizona…   Emil: I prefer talking generalities, we're not getting into nuance on this on this podcast, sorry…   Michael: I thought you only spoken absolutes.   Emil: That's it, that's it…   Michael: Now you're speaking in generalities. Man pick one Emil.   Tom: Yeah.   Emil: Ehmm, absolute is what I met. It's not... Moving on. Alright, what do we do with $50,000 now? If $50,000 is now, in your investing career, what are you guys doing? You're not a beginner, you're at your stage now, so what's next?   Tom: I am making the transition to getting some multifamily, you know, I don't know, I don't actually know short term, Michael's got me hyped up on some learn a lot more about short term, I don't know. I'm all over the place right now. This is what I'm gonna do, this is what I am gonna do actually, I'm going to set up a coaching session with Michael and we're going to go through some options and get to the root of it. I swear to God, that's like the real answer, right.   Emil: That is actually a very solid strategy. Alright, Michael 50,000, I feel like I know where you're, where you're putting money, but if 50,000, where's it going?   Michael: Yeah. Now in today's world, I'm probably splitting that. Truth be told I'm probably do you like for sure a short term rental 50% down DSCR loan, and then I'll probably wait half or two thirds and then I'm taking the other half and I'll probably park it in a syndication to be perfectly honest and just kind of enjoy the passivity that syndications provide. It's, we've been doing a lot of podcasts recently and had a lot of passive investment experts on talking about benefits, pros cons of passive investing, and I'm like, huh at this stage of my career, it's definitely sounds interesting. My back's already, you know, a little tired from from caring so much. So I'm ready to slow down a little bit and just kind of enjoy the fruits of the labor.   Emil: Nice, yeah. I'm sagging into what I'd do, I'm right there with you. So I like that I have nowhere near the amount of units like you, right that I own directly, I have six units. I think that's perfect for me and where I'm at right now, I would put $50,000 honestly, either in a REIT or yeah, in a in a private deal or something like that. Something where I'm going to be completely passive. Just given we've got two little kids, we got the six units again, that we own directly and that takes off takes up enough time and you know, business I started a year ago that's taking up a lot of time as well and attention. So I'd be looking for something passive to pocket.   Michael: I love the fact that Emil, you mentioned that you have like little kids and so you're kind of at this stage in your life where the active hands on direct investment isn't a great fit for you. But that could easily change and so you go park your money and one of these indications. Hopefully it doubles or better in a couple years' time and then you get it back and you get to decide okay, well what I want to do next I want to continue the passive route now maybe the kids a little bit older, you have more time on your hands to do something else. So I love it. I think it's, it's such a good point that there's like seasonality to this whole investing thing.   Emil: Yeah, it's not like, I'm done direct investing. It's, I'm done direct investing right now. Like, we have what we have, we're good, we're not getting rid of those and it's time for a different strategy. But you know, life changes, maybe you have a windfall, whatever, and you're like, now I'm bored. And I want to go do something more challenging and I'm gonna go do some, some value add stuff myself, maybe even like, in a market closer to me, or what did you know there are just so many different ways you can take this and it's not like those strategies you start with is going to be the strategy you end with.   Michael: Mike drop Emil out.   Emil: Don't listen to me, I don't know what I'm talking about.   Michael: That's great, man. I love it, I love it… Should we get out of here?   Emil: Yeah, let's do it.   So thanks, everybody, appreciate you tuning in for another episode, hope you got some value out of this one. And as always, please leave us a review or subscribe if you're watching on YouTube. We love seeing that number go up, it boosts your ego and it keeps us coming back every week. So we'll catch you all in the next one. Happy investing.   Michael: Happy investing.  

Skáldið Brynja Hjálmsdóttir heimsækir þáttinn og ræðir um ljóðabókina Kona lítur við sem kom út í október hjá Unu útgáfuhúsi. Bókin er önnur ljóðabók Brynju en árið 2019 gaf hún út bókina Ok fruman og hlaut hún mikið lof. Kona lítur við er í þremur köflum og sýnir lesendum Óramanninn í gegnum skrárgat, ásamt hinum ýmsu sjónarhornum kvenna sem líta við og í lokin er lesendum boðið í heimsókn í feminíska útópíu sem nefnist Borg Skækjunnar. Þann 10 nóvember síðastliðinn kom út skáldsagan Stórfiskur eftir Friðgeir Einarsson hjá Benedikt bókaútgáfu. Stórfiskur segir frá íslenska hönnuðinum Frans sem ferðast til Íslands, frá heimili sínu í Þýskalandi, til að sækja sér heilbrigðisþjónustu og hefja rannsókn á umdeildu hvalveiðifyrirtæki sem hefur beðið hann um að hanna fyrir það vörumerki. Rithöfundurinn Aðalsteinn Emil Aðalsteinsson kíkir einnig í heimsókn til og segir frá smásagnasafninu Svefngarðurinn sem kom út hjá Dimmu í haust. Þetta er annað smásagnasafn Aðalsteins Emils en í fyrra gaf hann út bókina 500 dagar af regni og fékk hún góðar viðtökur. Í Svefngarðinum má finna fjölbreyttar sögur sem eiga það flestar sameiginlegt að hverfast um ónefnt þorp á íslandi þar sem finna má fjöru sem nefnist einmitt Svefngarðurinn. Umsjón: Tómas Ævar Ólafsson og Jórunn Sigurðardóttir

Skáldið Brynja Hjálmsdóttir heimsækir þáttinn og ræðir um ljóðabókina Kona lítur við sem kom út í október hjá Unu útgáfuhúsi. Bókin er önnur ljóðabók Brynju en árið 2019 gaf hún út bókina Ok fruman og hlaut hún mikið lof. Kona lítur við er í þremur köflum og sýnir lesendum Óramanninn í gegnum skrárgat, ásamt hinum ýmsu sjónarhornum kvenna sem líta við og í lokin er lesendum boðið í heimsókn í feminíska útópíu sem nefnist Borg Skækjunnar. Þann 10 nóvember síðastliðinn kom út skáldsagan Stórfiskur eftir Friðgeir Einarsson hjá Benedikt bókaútgáfu. Stórfiskur segir frá íslenska hönnuðinum Frans sem ferðast til Íslands, frá heimili sínu í Þýskalandi, til að sækja sér heilbrigðisþjónustu og hefja rannsókn á umdeildu hvalveiðifyrirtæki sem hefur beðið hann um að hanna fyrir það vörumerki. Rithöfundurinn Aðalsteinn Emil Aðalsteinsson kíkir einnig í heimsókn til og segir frá smásagnasafninu Svefngarðurinn sem kom út hjá Dimmu í haust. Þetta er annað smásagnasafn Aðalsteins Emils en í fyrra gaf hann út bókina 500 dagar af regni og fékk hún góðar viðtökur. Í Svefngarðinum má finna fjölbreyttar sögur sem eiga það flestar sameiginlegt að hverfast um ónefnt þorp á íslandi þar sem finna má fjöru sem nefnist einmitt Svefngarðurinn. Umsjón: Tómas Ævar Ólafsson og Jórunn Sigurðardóttir

Skáldið Brynja Hjálmsdóttir heimsækir þáttinn og ræðir um ljóðabókina Kona lítur við sem kom út í október hjá Unu útgáfuhúsi. Bókin er önnur ljóðabók Brynju en árið 2019 gaf hún út bókina Ok fruman og hlaut hún mikið lof. Kona lítur við er í þremur köflum og sýnir lesendum Óramanninn í gegnum skrárgat, ásamt hinum ýmsu sjónarhornum kvenna sem líta við og í lokin er lesendum boðið í heimsókn í feminíska útópíu sem nefnist Borg Skækjunnar. Þann 10 nóvember síðastliðinn kom út skáldsagan Stórfiskur eftir Friðgeir Einarsson hjá Benedikt bókaútgáfu. Stórfiskur segir frá íslenska hönnuðinum Frans sem ferðast til Íslands, frá heimili sínu í Þýskalandi, til að sækja sér heilbrigðisþjónustu og hefja rannsókn á umdeildu hvalveiðifyrirtæki sem hefur beðið hann um að hanna fyrir það vörumerki. Rithöfundurinn Aðalsteinn Emil Aðalsteinsson kíkir einnig í heimsókn til og segir frá smásagnasafninu Svefngarðurinn sem kom út hjá Dimmu í haust. Þetta er annað smásagnasafn Aðalsteins Emils en í fyrra gaf hann út bókina 500 dagar af regni og fékk hún góðar viðtökur. Í Svefngarðinum má finna fjölbreyttar sögur sem eiga það flestar sameiginlegt að hverfast um ónefnt þorp á íslandi þar sem finna má fjöru sem nefnist einmitt Svefngarðurinn. Umsjón: Tómas Ævar Ólafsson og Jórunn Sigurðardóttir

Víðsvegar um heiminn standa tré sem hægt er að hengja óskir sínar á. Þegar trén eru orðin yfirfull eru óskirnar sendar til Yoko Ono sem svo sendir þær aftur í friðarsúluna, þaðan sem þeim er varpað til himins með ósk um alheimsfrið, í minningu Johns Lennon. Í Víðsjá í dag verða rifjuð upp fyrstu kynni Yoko Ono og John Lennon en þar kemur við sögu listaverk sem síðar varð kveikjan að friðarsúlunni í Reykjavík. Einnig verður rætt við Aðalstein Emil Aðalsteinsson, ungan rithöfund, sem var að senda frá sér sína fyrstu bók, smásagnasafnið 500 dagar af regni. Ólöf Gerður Sigfúsdóttir fjallar um sýninguna Listþræði sem nú stendur yfir í Listasafni Íslands, sýningu sem sett var upp í tilefni af aldarafmæli Ásgerðar Búadóttur, tilefnið notað til að horfa sérstaklega til vefnaðar og þráðlistar í íslenskri samtímalist og þess hvernig listamenn hafa notað þráðinn, spunnið hann, litað, ofið og formað eftir öllum kúnstarinnar reglum.

Víðsvegar um heiminn standa tré sem hægt er að hengja óskir sínar á. Þegar trén eru orðin yfirfull eru óskirnar sendar til Yoko Ono sem svo sendir þær aftur í friðarsúluna, þaðan sem þeim er varpað til himins með ósk um alheimsfrið, í minningu Johns Lennon. Í Víðsjá í dag verða rifjuð upp fyrstu kynni Yoko Ono og John Lennon en þar kemur við sögu listaverk sem síðar varð kveikjan að friðarsúlunni í Reykjavík. Einnig verður rætt við Aðalstein Emil Aðalsteinsson, ungan rithöfund, sem var að senda frá sér sína fyrstu bók, smásagnasafnið 500 dagar af regni. Ólöf Gerður Sigfúsdóttir fjallar um sýninguna Listþræði sem nú stendur yfir í Listasafni Íslands, sýningu sem sett var upp í tilefni af aldarafmæli Ásgerðar Búadóttur, tilefnið notað til að horfa sérstaklega til vefnaðar og þráðlistar í íslenskri samtímalist og þess hvernig listamenn hafa notað þráðinn, spunnið hann, litað, ofið og formað eftir öllum kúnstarinnar reglum.

This is our first ever AMA, where we answer listener submitted questions.  --- Transcript:   Emil: Hey, everyone. Welcome to another episode of the remote real estate investor. My name is Emil Shour and I am joined by Tom Schneider, Michael Albaum. And today we are doing our first ever AMA, ask me anything. So we posted an episode, a short episode last week, asking you guys to submit any questions you have to us. And, we also posted on social. So we've got a combination of people dialing in people asking us questions on social that we're going to tackle in today's episode. So let's start answering some questions.   Theme Song   Emil: All right, guys, tell me how excited are you to answer these listener submitted questions today?   Michael: Before Tom goes, I'm the most excited I win.   Tom: Aah, I'm really excited. And honestly, I think this can be kind of a recurring segment. So some of the stuff that we all do is we also do webinars with rooftop webinars, go check it out. Really great webinars. Anyways, we just like save time at the end for questions. And there's always so many good questions that we don't have time for. It's like it could be its own segment. So I think this whole AMA thing on the podcast could have some legs and be as core sort of a recurring thing. Like maybe we throw an episode in the middle of the week or talking about this before. So with that said, do not stop submitting questions. Just keep firing them in, and we will get to them. I think it could be a longterm thing that we do on the podcast.   Michael: We're going to start a question bank, so to speak. So it keeps sending the questions like Tom said, and we will get to them as soon as we can. Whenever we have time on these AMA episodes, I think it's just so great because the whole point of this podcast was to give the people what they want. And so now that we're getting questions directly from listeners, I think that's super, super valuable. And chances are, if you have a question, somebody else has it as well.   Tom: And I mean, what's fun about it is we as the host, like have some experience, but if there's stuff that's like outside of what we know we're going to bring in folks to help answer those questions. We have access to a lot of resources and a lot of smart people, so do not be shy about if it's a question, a little more novice or it's a little more advanced, we will get the right people in front of the microphone.   Emil: Yeah. And we actually, we've got a lot of good questions. A lot of these I'm curious about myself, so I'm hoping maybe you guys can help answer them. Cause I'm like, Hmm. Some of these are really good. I don't have experience with these. So, all right. Let's start, let's start tackling. Some are the first one we have is submitted by Shailen. Let's, listen to that question right now.   Shailen: All three of you have spoken about how you live, I think in Southern California, but you manage properties all over the country. How are you familiar with those other areas? Have you lived there before? If not, is there, do you travel there to figure out what a good neighborhood is? Rootstock has neighborhoods, but it's hard to know exactly what these mean for renters. If you've never lived there or visited there, can you elaborate more on the remote investing concept? Should you have three to five properties in one city or town before you go to the next town? Or are there some locations where you only have one property that you own?   Emil: All right. So great question all around. How do you choose a market as a real estate remote real estate investor? So this is a massive topic and we actually covered it on a previous episode, episode 21 called the art and science of choosing a real estate market, where we do a deep dive on how do you actually choose a real estate market? It's a long conversation. We spent about 40 minutes talking about it. So Shailen, definitely recommend you go check that one out. Some of the other things you asked about, do you choose one market and buy one property there or do you choose a market and buy several from personal experience? I have, but single properties in different markets. I have markets where I just have one property and I actually recommend people not do that. Now, just from my personal experience, I think it's probably better to choose one or two markets get really knowledgeable on that. Know what properties sell for. You're just, it's harder to be good at many markets versus choosing one or two and, and getting really good there. So even though I've done the one property in multiple markets, it's not necessarily what I recommend for other people. You guys have anything else to anything that there?   Tom: Yeah, you don't necessarily, I mean, just, you know, we had that episode, but to kind of just a Tom note on the topic is you don't necessarily have to go to the market, but have some parameters in the way that you're selecting a market. Be it population, be it like what type of economy is going on and diverse economy. So don't do the, throw the dart at the map method, like have some insight on how you select a market, but you know, you definitely don't need to, necessarily to go there and also to get educated on the market with regards to the different pockets and know what kind of expected returns that you would get be it gross yield. So when you're evaluating a deal, you have some context of this is a good property based on this area, or just wherever you decide to do an investing in market, just get educated on the market. Okay.   Michael: And just to echo that Shailen last thing that I'll add is if you're going to be remote investing, you're going to be relying on a lot of people to be your eyes and ears. Anyhow, most notably is probably going to be your property manager. So this is a great opportunity to start putting that relationship to the test and utilizing people that are remote. Anyhow, because if you go, if you need to go and physically be there in order to make decisions, well, anytime a big decision needs to be made. If you need to go get on a plane or get in the car and go drive there, that makes for just a tougher ownership process. So just consider that when you're thinking about investing at a distance property, managers can be your best friend   Emil: And Shailen asked about the Roofstock neighborhood rating. And so for people who aren't familiar with that, Tom, can you give a background on that? I know you have on previous episodes and you always describe it very well.   Tom: Neighborhood score, excellent point. So I think in a future episode, we're going to bring on someone from the data science team to get a little bit more into the weeds, but at a very high level, Roofstock pays a bunch of money for data. A data that has to do with historical population changes, changes in the economy, crime school, as well as forecasting out. So the neighborhood score is the synthesis of all that data that Roofstock collects. And it presents a simple one to five star score of five being, wow, this is a neighborhood that we think would make a great investment with regards to lower risk and better opportunity for appreciation where a one-star would be higher risk though. So that is the neighborhood score at a super high level, but I'm writing down as a note, we're going to bring on the data science team on an episode and grill them into the details of the Roofstock neighborhood score.   Emil: Awesome And again, for anyone who wants a real long, deep dive of how to choose a remote market, make sure you listen to Episode 21 called The Art and Science of Choosing a Real Estate Market.   Tom: All right, Robin from Wisconsin says, I love the show. You guys are super helpful in past episodes. You guys have mentioned you prefer investing in Metro areas versus suburban. How do you define Metro and why is it your preference? Do you consider cities with populations close to 200,000, like Akron, Birmingham, Greensboro to be Metro areas? Is there a population cutoff? So I'll take the first stab at this when I think of a Metro and I'm sure there is like a technical definition for that, but I think of a collection of cities that would like make an area. And also just to be clear, like, I don't think suburbs are bad. I think rural areas are a little bit risky just because there's typically not a very diverse economy, but I think suburbs are great. And actually a lot of my investments are in the suburbs of big cities, but back to kind of asking about defining a Metro, I think of it as a greater area. So if I'm thinking about Dallas, I would be inclusive of Arlington Fort worth. They're all kind of like within striking range of each other. I live over in Northern California in the suburbs of San Francisco. And I would say the Metro of that, you know, San Francisco would be Oakland, San Jose, Walnut Creek, Concord. So I think of Metro as kind of the broader, this wouldn't be too crazy of a drive to do, you know, maybe like an hour to drive across that area.   Michael: To piggyback off Tom's point. I don't have a population cutoff. I don't really think about Metro in the traditional sense because in different parts of the country, it can mean different things to different people. And so I'll usually call a property manager and say, Hey, if someone's going to work in the main employment corridor or whatever that looks like, whether it's financial district, that's the downtown area I'll ask, where is someone willing to live? Where are people that are working here living? And if the property manager tells me, Oh, and these areas great, that's my radius. If you will. I've invested in pretty rural areas, several hours outside of st. Louis. And there wasn't a whole lot of economy there, but there was a military base. And so that for me said, okay, this is good enough. Granted, I was pretty green, not, I don't know if I would make that investment again, but I got really lucky. So I'm less scientific when it comes to identifying a Metro and looking for markets to invest in and the population regard.   Emil: Yeah. I'm with you guys. I mean, for me, it's not even about urban or suburban. I dunno if that was part of the question, more so it's choosing a market that I think is good. And so like you mentioned St. Louis, St. Louis is one I invest in as well, and I'm in a suburb. That's probably like 20 minutes outside of the city. And I'm okay with that. As long as, like you said, people are usually commuting from the suburbs into the city as well. What I care more about is how is that city doing overall in terms of population growth are the returns there for what I'm looking for, those kinds of things. And so one thing that Tom had mentioned in one of our previous episodes that I really like is, is it a big enough city where there's at least one professional sports team? I think that's kind of like 1% rule, 2% rule. I think that's a great just first sniff test to make sure a market is even worth investing in, at least for me, I know people will invest in some of these, some tertiary markets let's call it like a Birmingham or something where there isn't..   Tom: We're going to count AAA base And the Birmingham bombers or whatever they're called. That counts, their in.   Emil: They're going to break through to the MLB soon   Tom: AA baseball is smaller, but AAA, it counts. Yeah!   Emil: So, you know, there are people investing there who are doing really well, but just for me personally, I've always liked that as a good test. Like, is there even a professional sports team? Is this a big enough city to have a professional sports team? And those are the kinds of cities I choose to invest in.   Tom: And just to correct myself, it's the Birmingham barons and they're affiliated with the Chicago white Sox from 1986 to the present. Yeah. So go ahead. Continue.   Emil: That's it. I'm done.   Michael: All right. Let's move on. Alright, Maddie from Facebook is asking and big shout out to Mattie. She's a friend of mine. She says, what is your advice for a first time home buyer looking to invest in real estate or buy their first property? So I talk a lot in the Academy about this and something that's kind of a hybrid of the two, because it's not necessarily a black or white decision of, I have to invest in rental property, or I have to purchase a property for me to live in is a house hack. And so if you are willing to kind of be a bit of a landlord in your own home, how's, that can be a really great way to go. And for those of you who don't know what a house hack is, basically what it involves is buying a property that has more space or rooms than you need for yourself or your family and renting out the other space or rooms.   So whether that's buying a four bed house and renting out their three rooms or buying a duplex triplex or quad, you can live somewhere and make cashflow alongside living potentially for free. So it's a really great way to get involved with real estate investing as well as tackle having a to live. And so if that's not within your budget, something that I talk a lot about is that I invested out of state for 10 years and was renting the whole time. And so in my market that just made sense to do. And so I said, you know what? I'm going to invest in, invest and invest and generate enough cashflow to ultimately at one point in time, purchase a property and have my cash flowing assets pay for that primary residence, which is something I've been lucky enough to have done.   Tom: Yeah. Similar situation I rented for a while, while owning rental properties. I think you're right, Michael, in that it's a product of where we live in that getting into a house to own and live in is just wildly expensive versus being able to buy an investment property. But my piece of advice would be two parts. One have a process, have a buy box. And so you're making these decisions, not subjectively. And the second one would be to have a bias for action. And I've been saying there's a lot lately. I think a lot of people get into paralysis by analysis. They overthink it. They're trying to make their best deal, their first deal. But that's, I guarantee you, that's not going to be the case. And there's just so much value to getting into the game.   Michael: Put me in coach, give me a chance.   Tom: Yeah.   Emil: Yeah. I love what you guys mentioned here. My only addition here, and this is a personal opinion, a lot of people might look at their primary residence as an investment. And I never look at it like an investment. I think it's a place where you call it your own. It's a place to raise your family. And there's a lot of benefits of owning your own home. It might end up being an investment, right? You could choose somewhere that appreciates. And if you think about it, your mortgages in a way, like some for savings as you pay down your loan and you build some equity, but considering that they front load a lot of the interest in your principal, payment is low in the beginning. I don't see it as much of an investment. So if you're looking at this as which one is the better investment, I think you're better off going and buying rental properties. Cause those are, you treat those like an investment, whereas your home, it's a personal decision that you make because you want a home. You want to, for whatever reason. So that's the only thing I'd add here.   Tom: I'm going to digress just a little bit. It's really funny. The offer making process of an investment property versus your personal residence. Cause like with an investment property, it's like, you know, I feel really good saying no and walking away, this is my firm number. Oh, you don't want, I'll get outta here. And then with your personal property, it's like, you know, you have your significant other. And it's like, Oh, they countered this much. I'm like, Oh, we should probably do it. I really want that house. The psychology of the negotiation process is just, I'm not good at doing it on my personal property, but for like my investment properties, I'm pretty disciplined. It's just really funny how the psychology of it is pretty different.   Emil: A hundred percent   Michael: Just to add to that. The primary property that I bought, I knew that it would one day become a rental. So I evaluated it like a rental. And so I was able to go in with the offer because I would have that same issue Tom so I treated it like a rental throughout the entirety of the process.   Tom: Incepted yourself   Michael: That's right!   Emil: It's such an emotional decision buying your primary residence. You know, you walk in, you're like, we love this. We love the location. We love the kitchen, the layout. And you're like, it's, it changes things. It becomes an emotional purchase, not one that's necessarily rational. All right, next question is from an anonymous voicemail. We bats. So let's listen to it on that one.   Anonymous: Hey there Roofstock. What's the best type of loan or a short term, single family home, an arm, a balloon loan, 30 year fixed, what would you guys recommend. Thanks.   Tom: All right. So good question. So when you say short term rental, that could mean a couple different things. Is it a short time horizon that you're owning the property? Cause I think that's really relevant for the type of lending that you're getting. If you're talking about short term rental, as in just like a vacation rental, I would say, get, you know, whatever best terms you can get, I'm going to riff for a second on your hold period. Cause you can get a lot of cost savings in thinking about what type of loan to choose if you know, how long you want to hold the property for. So if you're planning to hold this with like a five year time horizon, that could be a good scenario where you would get an adjustable rate mortgage like you were referencing, just because the rates that you can get with an adjustable rates, those during that initial period can be significantly less expensive. There's risk in that if you're planning for a longer hold time, say like a 10 or 30 or whatever, how long, just because after that initial teaser period, the rates will jump up to whatever market rate is. So you get yourself in a little bit of risk. So my answer to your question and to paraphrase really quickly is if you plan to hold for a short period of time, it would definitely be advantageous to look at what kind of rates you can get with either a five to one arm or a 10 to one. But if you're planning to hold for a longer period, I wouldn't recommend that just because it's hard to say where interest rates are going to go and you're going to be subject to wherever the market rates are at. And if it is like a short term, as in like a vacation rental, I'd say get whatever best rates that you can get according to your planned hold time.   Michael: Piggybacking off Tom's answer. I think whole time is really the end all be all the determining factor here. And what's going to dictate kind of looking backwards. What type of loan you should get. I would say that if your whole time is five years, look at a seven year arm. And if your whole time in seven years look at a 10 year arm, because we have no idea what the market conditions are going to be like in five years from now. So you don't want to be forcing yourself to sell a property in five years because well, the market's in the tank. And so you can't sell for... Can't make a profit on your deal and interest rates have gone up. And so that will often lower sales prices and purchase prices because their purchasing power has been diminished. So give yourself a little bit of breathing room. I would say above and beyond what your plan hold period is. And also a lot of times the savings to be held on arms aren't materially significant. And what I mean by that is if you're different than monthly payment is 50 bucks a month, you've got to decide for yourself, okay, is that $50 a month savings with a lower interest rate, worth it to have a shorter term interest term versus getting the 30 year fixed, which you know is never going to change the life of that loan. You could always refinance if rates drop that kind of thing. So the 30 year long time horizon should be significantly more expensive in order to deter you into an arm, I would say.   Emil: All right, next question is coming from Elan, who submitted on Facebook, Elan is asking, how can we estimate flipping costs? How deep should we go into flip? I, how much should we spend on a remodel? All right. So Elan's question is around flipping costs. How do you estimate those out?   Michael: There's a really great book that Bigger Pockets put out that's titled Estimating Rehab Costs. I'm pretty sure that's the title. And I think that can be a really great place to start. Um, and there's no substitute, I would say for getting a quote, an estimate from contractors and get numerous quotes and estimates and bids from numerous contractors, because everybody's going to have a little bit different price. That would be your best way as to how to estimate those costs. And then also chatting with local investors, local property managers, as to ballpark costs, they're going to have rough ideas of what things cost in that given market. And that's going to vary from market to market. So we can't say, Oh, do we have a house in San Francisco is going to cost the same to rehab a house in Northern Kentucky. Those two markets just aren't the same.  And as far as how far to go on your rehab or on your remodel, that also, I would suggest talking to your property manager because they're going to be able to give you some insight into what upgrades are going to bring you the most rent. Also chatting with an agent about what upgrades are going to bring in the most resale value. Once you've targeted your demographic, who you're going to sell to whether that's owner occupants or whether that's in other investors, because an investment flip is very different than an owner occupant flip. So that's what I would say on that.   Tom: Yeah. And my feedback, a really common process for these type of flippers is you partner, you have a general contractor who knows exactly what you're doing that you trust and you have some sort of relationship with, and you get a property in contract and during your inspection contingency, that's when you can have him go and price everything out. So you have that contingency to get out. If the deal doesn't pencil out, but the real key takeaway is don't buy a property and then try to figure out what the costs are like, have that as a part of your process is during your transaction contingency. So you can get out if it doesn't pencil, you know, you make your best guess when you're submitting an offer on what you think the costs are going to be. And that's where the, you know, books like Bigger Pockets books is really great. But once you actually have money, skin in the game with an earnest money deposit and you're in a transaction, you want to get that number of what it's going to be. And sure, there's sometimes going to be surprises of when they open up a wall or whatnot, but you're putting your best foot forward during the transaction period of getting an actual cost from contractor partner or, you know, vendor that you're using, that you can use real numbers when making that decision to close the transaction. So that would be my feedback.   Emil: Cool. And then, yeah, last thing is, you know, if you're working with an agent in the area and they're going and looking at homes for you, depending on how you're buying. So one thing I like to do when I'm vetting agents is ask them if they are not like, can they walk through the property and give you at least some idea of estimation, right? Like, okay, a new floor, this much square footage, how much is that going to cost? A lot of them will actually be pretty upfront with you. They'll say I'm not really good at that, but I have a general contractor I work with who can come with me when we inspect it and look at it and do all of that. So that's kind of one thing I like to vet and ask for. Just cause again, we're relying on a team boots on the ground there. So leveraging their knowledge and experience to help us make all these estimates. All right. So we still actually have a lot more questions that we didn't get a chance to go through today that we're going to cover in a future episode, like Michael mentioned, keep submitting these questions. We'll just keep doing future AMS to tackle whatever questions you guys have. And with that, we'll catch you guys in the next episode.   Tom: Happy Investing   Michael: Happy Investing  

In this episode, Micheal, Tom and Emil take on some common worries that friends and family have when you tell them that you are considering taking up remote real estate investing and provide solid arguments for reasoned responses.  --- Transcript   Michael: Hey, everyone. Welcome to another episode of their motor real estate investor. I'm Michael album, and today as usual, I'm joined by Tom Schneider and Emil Shour. In today's episode, we're going to be talking about kind of an interesting topic. Do those around you, not support your remote real estate investing dreams. We're going to be giving everyone today some tips, tricks, and fodder about how to speak intelligently about remote real estate investing. So let's jump into it.   Theme Song   Michael: Alright guys, before we get into this episode, I just wanted to check in with you all, how are you guys doing? There's some new quarantine issues that just came out from the governor and wanted to check in how you guys are doing.   Emil: Welp. Can't go surfing this weekend because LA beaches are locked down.   Michael: Oh no!   Emil: So that's unfortunate, but I got out there this morning in anticipation of not being able to,   Michael: How was it ?   Emil: It was crowded a little bit slow, but it was fun. You know? It's good. Anytime you start the day out on the water.   Michael: Yeah, absolutely.   Tom: Is a bad day on the surf. Better than a good day, not on the surf guys.   Michael: Yes!   Emil: Of course. Michael would say yes, because he's the eternal optimist, I would say. Yes. There's times. I get really frustrated. Sometimes I get out of the water and I'm like, damn it. And I'm just like huffing and puffing on my way to my car and just like, but yes, in hindsight, it's always like, at least I got out on the water and did something fun   Michael: Without being too cliche. I think every time I get into the water, I'm able to think about stuff and I go in with problems and come up with solutions. Even if it's not a great day, it's way more fun. If it is a great day, given the choice between the two, I would absolutely choose better day, but I don't think I've ever had a bad day out in the water   Emil: Hashtag no bad days.   Michael: That's right.   Tom: What I've been doing lately is our community pool… I live in this neighborhood that used to be part of an HOA and there are still some of the HOA amenities, but now it's just like people have the option to join. And I joined cause it's like a really cool feature, but they have really, they need a monitor at the pool just to make sure that people are not bringing in guests and they limit the number of people and a bunch of other County related restrictions. But anyways, so I've been doing that and I've been working from down there. There's really good wifi. I'm out in the sunshine. I've been having some of my meetings with my background, with Emil, Michael and Pierre, where there's like, you know, a pool in the background and every, you know, couple of hours instead of going on a walk, I'll do a Cannonball and a that's the latest little update. And it's been a really, I don't know, I think there's something about being outside and being creative and that feeds into that. So that's been my, my new thing work from pool.   Michael: I'm curious to know what the HOA, you know, if they just everyone mutinied like, no more HOA!   Tom: Right. I think it fell apart. I think in like the seventies or eighties, I gotta, I gotta get to the bottom of it, but uh, yeah, really just random, big pool. Um, I don't know. Yeah. It's cool.   Michael: Killer. That's awesome.   Emil: How about you, Michael? What's new in your world?   Michael: Um, not a whole lot. I've been staying up quarantining at the in-laws and just kind of hanging out in here. It's been hot as ever like the surface of the sun. They lived just outside Sacramento, so it gets really, really hot up here, but we've been playing a lot of tennis, which has been really nice, cause there's nobody on the tennis courts. Cause it's so hot. And I think people drive by and like what a bunch of schmucks, like who's playing tennis, it's a hundred degrees outside. So it's, it's been a lot of fun to just get out and sweat and be outside.   Emil: Nice man.   Tom: Pierre with so many hobbies. I'd love to hear. I think you might mentioned getting in some woodworking again.   Pierre: Yeah. Yeah. I moved into a new place in Alameda and needed some furniture to fit my record collection in this little nook that we have. So I built like a little mid century modern table with some cubbies, for my records and a rack to hang my guitars.   Tom: That's a fantastic quarantine hobby and practical!   Emil: I give up, Pierre's just the coolest out of all of us. Let's just,   Michael: Oh, it's not even, yeah, it's not even close.   Pierre: Now. I got the edge though. I want to build all my furniture. We were looking at buying some online but now it's not seeming as attractive.   Michael: You can build a better.   Tom: I love it.   Emil: Awesome. And for anyone who's new to the show, wondering who that voice was. That is our producer Pierre.     Michael: All right, guys. So I want to break down some of the very common aversions to remote real estate investing and then talk through some of the counterpoints to each of those. I think any real estate investor at some point in their investing career has likely come up against some aversion or caught some flack. So I want to talk about the first one that I think might be one of the most common ones. And that is how could I possibly ever invest in real estate remotely? I don't know anybody in inter X market here. Tom, do you want to take a shot at this one? And then, you know how you would respond to someone who's throwing this at you?   Tom: Yeah, totally. And what a relevant first topic for the remote real estate investor. So I think a common misconception about real estate investing is that it, you are a lone wolf in and out doing on your own. And that is so far from the truth, especially, uh, as a remote investor. So what I would say for this is you should invest as a lot of time in building your team just because you are not in the region, you're specifically your local property manager. That's really going to be a key key point of being able to do this remotely. So a way to, you know, go about that is have a very thorough vetting process of identifying, sourcing and vetting your local property manager. And one of the great things that Roofstock does is when we open a market, what we'll do is we'll find from word of mouth and looking it up online, the top 20 local property managers. And from there we'll do phone interviews. And from there, we'll cut more down to where we have about five of them. And then we'll go into the office and visit them, get their standard operating procedures, get their, a copy of their lease that they use, get all of these different and then say, okay, yup. These are good guys that we would recommend. Now me as an investor, if there's a company that's doing that, that's great. That gives me a head start, but I will still take the time to vet them myself. One of the aspects we have within Roofstock Academy is some pretty thorough interview templates for talking to property managers and identifying good ones. But to combat that is you have a really thorough process of building your team local there on the ground. So, you know, once you have identified that property manager that is going to be your remote eyes and ears is really not that different than doing any kind of local investing. Once you have that trusting partner   Michael: And Tom breaking down that big rock into an even smaller bite sized rock, how do you go about finding these people? If you're not investing through Roofstock and they are not doing it for you, what's the actionable step that people can go take to go meet or start talking to these folks.   Tom: I always put an extra points on referral from people that I trust and know. So I'd say if you can get referrals that way from either lenders or other investors, you know, that's a great place to start, but you should expect what you inspect. So you need to go in and expect it in, inspect it to now that is a mouthful.   Michael: That's a tough one to say.   Tom: Yeah, yeah. We use that saying a bunch of our, the last company that I worked at, but the gist is if you don't do the work to verify, you should expect that it's not going to be that awesome. So you need to put in a little bit of the work of talking to these partners. So I digress a little, I guess let's see. I'm going back to your question. What was your question?   Michael: It was how can someone go find these people?   Tom: How can they find people? So, okay. References number one, number two, don't shy away from looking on the internet of just searching the city of who are the major property managers. And you know, this, isn't making the decision on who you're picking. This is just building that initial list to widdle down with conversations on the phone and potentially in house visits to make sure that it's all buttoned up and such. But I'd say again, your greatest resource would be getting referrals. Bigger pockets, I think on their forums have some references of some potential local property managers, but I would definitely expect what you inspect. So make a point of doing that. Like work.   Emil: One of the thing, I want to point out with this one, cause I remember getting this one a lot. When I first started investing, you know, people would be like, you're going to invest where across the country, like that's insane. What if something happens to the property? What if it gets vandalized? What if this and that? And the thing is, is those things happen, whether you're local or you're investing remotely, right? It's not like if you live 15 minutes away from the property, things aren't going to happen. Things are still going to come up no matter where you invest again, it's just making sure you have a partner. And that's why we keep talking about this property manager. Who's invested, who cares and who is a good member of your team. That's one of the big things we're going to be talking about is, you know, you hear a lot of real estate investors say you have to build a team. This is a team thing, especially if you're investing remotely. So that's the big thing is things will still happen. It's just a matter of getting the right partners to help you handle all these things.   Michael: You guys nailed it. I have nothing to add. The one thing I would add is that it really forces you, which I see it as a pro. Some people might see it as a con, but it forces you to get really good at time management. Because then they'll just like you said, stuff's going to happen. Whether it's next door or whether it's across the country. So if it's across the country, you've got to rely on people to take care of that. You've got to have set the systems up and placed on, like you were saying, to be able to have that dealt with without you needing to become involved. So if it's next door, you're going to be tempted to go fix it yourself or go deal with it yourself. But if it's across country, you physically can't. So being really good at time management and task delegation is I see it as a big pro.   Tom: I guess one last thing I'll say is, you know, ideally the home that you own and you're renting out is close to you, but there are so many benefits to investing remotely. Like you have access to so many more properties, so many different types of returns, such different like economies, like that makes it a little bit of barrier to entry is doing that extra homework of finding that great partner. So for me, being able to access these cash, flowing properties all over the US that extra work of finding the good property manager and then vetting them and building that relationship is worth it.   Michael: Yeah. And to that point, I mean, what's the alternative here, not investing or not investing remotely. And if you're in a really expensive market, you might not ever be able to break through. So if it's invest remotely and learn a bunch of stuff or not, I'd say you can't afford to not learn how to do some of this stuff.   Tom: Word.   Michael: Okay. So let's move on to the next one. Uh, so many times I hear people say this, I know someone who tried to investing in real estate and they would take these midnight calls, fixed toilets. I don't want to do that. Why would you ever want to do that? Emil, you wanna run with this one?   Emil: Yes. So this is another common one, right? So people say, okay, I get why you want to invest remotely, but are you going to handle fixes? What if someone calls you? And again, this goes back to what we were just talking about. It's this is why you hire third party, property manager, again, building the team, right? I would say the property manager is one of the most important pieces of your team. And the thing here is I don't know how to fix most problems, right? I would call a handyman or whatever anyway. Right? So the property manager is just, they're just your barrier. They're taking in those calls and they're finding a local specialist. Again, you're not going to be good at everything in your business. What you want to do is hire the professionals who are in the property. Management is the best that operating your property.  I would probably do a much worse job and I'd spend way more time than a property manager who does this for a living. So the rebuttal to that question is while I'm going to hire a third party property manager, who's an expert in the area. Who's going to manage it for me. And in return, they take a certain percentage of my rent each month. The other thing is the important thing here is this frees up a lot of your time, right? If you're constantly dealing with your operational stuff, you're not going to be thinking about how can I grow this? How can I scale it? A lot of us who are doing this, we have full time jobs, right? Like instead of fixing things on the weekend, I could be thinking about how can I start a side gig, earn more money or whatever. So I can go buy more properties, which I would argue is more important than handling the day to day stuff.   Michael: It's so interesting. I think people in the day to day world in life can really wrap their head around hiring professionals to do things, right. Nobody says, I'm not going to go buy a car because I don't know how to fix it. No, we all take it to the mechanic. I think it's the same thing with real estate and with investing where people are. So whatever reason can't get their head around that you might not have to do that, that kind of stuff. There are professionals that will take care of it for you.   Tom: Right. It's such a great point. I, I love that, your, uh, isms, Michael isms. I think we'll say, I think in talking to a lot of people who are interested in investing in real estate locally, they're like, yeah, then I can go and I can run out and paint the house when, or do these things that happened. It's like, no, you don't have to do that. And you know, we were talking about these costs that you incur with either repairs or maintenance or paying your property manager, but those are good costs to pay. And also at the end of the day, it's going to help you on your tax basis. It, you know, there's just so many tailwinds in doing this.   Emil: One last thing I want to add here is you can always later down the road, maybe you're ready to retire, right? Maybe you have X amount of properties. You have enough cashflow coming in. You want to retire. Maybe at that point, you feel confident enough where you do want to self manage. If you go back to episode five that we did with Chris Bennett, he talks about how he self his properties from thousands of miles away. I personally probably won't get to that point. I'd rather let somebody else deal with it. But it's always one of those things where I think you can even just observe your property manager for years, learn how they kind of run everything. And then if you want to down the road, you can switch back or switch to self managing. If that's interesting to you.   Michael: Funny, I think the longer I invest, the less I want new self-manage. I realize how much goes into like yeah, no way.   Emil: Yeah, same. I had somebody who I was talking about. Who's looking to buy a property on Roofstock and they were asking me the same thing. It's like, should I self man? He's like, I'm actually thinking about self managing first, just to like, get an idea of how all these things work and then handing it over a property manager. And I was like, if anything, I would do the complete reverse for all the reasons I just mentioned. Like, dude, you're brand new. Don't don't do it. It's going to be a nightmare. And you're never going to want to invest in another property again. Promise   Tom: That's the Emil Shour guarantee.   Michael: Awesome. Okay. So the next one I want to touch on is something I'm sure we've all heard a lot about, and it's that real estate is such a risky investment. Look at what happened in 2008. And so I'll take this one. If you guys don't mind, you know, my response is you're spot on don't invest. No, just kidding. I would say, you know, 2008 was the direct result of poor lending practices and those have definitely since changed. And so I don't anticipate seeing a financial disaster as a direct result of poor lending practices again. Don't misinterpret that as me having a crystal ball, that's just my personal opinion and be very may well see a financial disaster from other, but the poor lending practices seems to have gotten cinched up pretty tight. So I would actually argue that real estate is often a safer investment than the stock or the bond market.  And I think so often people say, okay, real estate is risky, but these other things aren't, there is also people that say real estate is risky, put your money in the bank. And to that, there's all kinds of counter arguments and counterpoints that are all based in fact about inflation and how you actually lose money. If it's just sitting in the bank, if you're not earning at least the inflation return, but so in looking at growth, the comparison to simply stocks, bonds, and real estate. So with real estate, there's just such a higher degree of control. The tax benefits and potential returns are typically going to be better than your average year in the stock market. I think it's pretty well accepted that stock market returns average between six to 8% in any given year real estate, you can do significantly better with that from a pure cash on cash return perspective that doesn't even account for the tax benefits associated with it, as well as the appreciation and loan pay-down equity that you're essentially buying into your property. So I personally I'm drinking the Koolaid. I think there are tons and tons and tons of facts and figures that you can throw at someone that's saying, Oh, it's such a risky investment. My guess is that they probably haven't invested in real estate. And if they have, they aren't looking to do the same type of thing you're doing remote investing with a property manager. So I just want to make sure that everyone's comparing apples to apples. Whenever they're hit with something like this, you really want to understand what's being talked about.   Tom: That's great and a good overview of like all the benefits of why, at least in our opinion, like the benefits outweigh the rewards. And what I love about drinking the Koolaid is there's so many different flavors of the Koolaid. So I kind of switch off on which one I'm most excited about. So the tax advantages is great. The immediate cashflow is great. The appreciation is incredible, but the Koolaid I've been sipping a little bit more of is the loan pay-down aspect. And it's just crazy. You can borrow like a hundred thousand dollars and someone else will pay it off for you. Like, I don't know, like wording it that way is really kind of mind boggling of how incredible investing is. So even if you're not cash flowing, say your cashflow is zero, but you still have a loan on the property. And you're not paying that loan. The person who was renting the property has paint alone. It's like obscene right property after you get a free property. So anyways, just kind of in your, going through your ran, I was just thinking of what is currently spinning through my mind a little bit heavier on like, wow, it's unbelievable. How much of an opportunity is. So anyways,   Michael: I thought you were gonna say that you're really excited about sour green, Apple Kool-Aid flavor.   Tom: That might be the loan pay-down is the sour green Apple.   Emil: Oh man. Kool-Aid when you're a kid and   Michael: The best, the best. How do you guys feel about Hawaiian punch?   Tom: I think American tastes have gotten a little bit less sweeter. At least I could rant on this for a little bit, but I'll finish it. There's been a shift in American culture kind of going to more subtle. Like if you look at like Hintwater LaCroix, if you compare like the drinks that are consumed today, versus the drinks that were consumed like 10 years ago, it's like hummingbird water back then. So I think I have a feeling if you had some Hawaiian punch, like you would be like, what the heck is, this is this like, meant for like a hive of, of hummingbirds, like anyways,   Michael: And it's that bright red too!   Tom: But the great thing about Koolaid is you don't have to put all the powder in. You can make it culturally adjustable by just putting a little bit of it in and boom, welcome to 2020, just 10% of it and have it. All right, go ahead.   Emil: I don't know how I can follow that up with something serious, but just to finish this section, I remember we had this blog post on the Roofstock blog talking about how did single family rental returns compared to stocks and bonds. And the Roofstock team did a little study. It was from 1992 to 2017. So a 25 year period. And if we found that single family rental returns were nearly identical to stock returns and the outperformed bonds with far less volatility. So that was one other thing I wanted to highlight here as well. Plus all the other benefits, like we talk about like tax advantages and all that, which I don't think was factored into this study.   Tom: I'm almost sure it wasn't.   Michael: Yeah, that makes sense. Because everyone's going to have a different tax basis.   Emil: Yeah. This was just looking at returns.   Michael: Okay, cool. So one of the last ones I want to touch on which we can all kind of tag team, but I kind of want to give it to Tom to give him a runway to rant. But so many people I've heard say owning real estate makes you a greedy landlord getting rich off the backs of other people. Tom, what would you say to all those people?   Tom: I think that people need safe housing, people need housing, and this is just kind of part of the wheel of providing that. So like I think above all, and we've talked about this before an earlier episode, like at the end of the day, it's about like habitable safe places for people to live. And I think as an owner, that's like a key part of the responsibility, so sure. Their incomes earned. It's like a little business that you own with every single one of the houses. But at the end of the day, like at this, we're talking about people's where they live and being able to provide that is valuable.   Emil: I think anyone who kind of believes this, I think you should a hundred percent become an owner because then you'll have a better idea of both sides of the coin. Right. You'll have owned, you'll have rented, I've rented, I've owned. I think having been in that spot right where you're a renter and you know, you've dealt with a landlord. I think it makes you more empathetic to your tenants. Like I want to provide a safe habitable unit, like Tom mentioned for those reasons. Like, if you're, if you're a good person, you care about other people, it's not like you're going to become an owner and all of a sudden just be like terrible person not providing for them. So I actually just, if you believe that, I think you should become an owner and just have experienced on both sides personally.   Pierre: As a renter, I have to say that it's way better to have a cool landlord.   Michael: Yeah. It's way better renting experience to have a cool landlord. Someone that's a real person as opposed to just a machine.   Tom: Yeah. And I don't, it has to be so black and white at that. Like you're only trying to maximize your return at every single look. I think there's a lot of places where that makes sense, but there's this humanity aspect. So one of my tenants, you know, started just recently had some issues around payment on like an employment and stuff. And you know, I talked to the, reached out to the property manager and said, Hey, you know, is this, is this something, you know, that has to do with the virus or they cause I'm very open to helping them out. Like if we need to make some adjustments or some concessions, you know, as an owner in real estate, you don't have to put on the monopoly outfit and just, you know, drill people into the ground, like, like half a conscious, like this is a good business to build wealth, but it's multidimensional, right? Because you're owning a place where somebody's living at. I think that's a really important aspect to have some humanity as an investor. So it's not, you have to go down this one path, right. You can do business consciously.   Michael: Yeah. And to anybody out there that thinks this or anybody out there that you know, is, is catching this type of comment from other people, I'd say, look, you need to understand what actually goes into real estate investing and real estate investors pay tons of money every single year to local school districts in the form of property taxes. So I'm not sure how that makes them greedy, but I would also follow that up with asking them how much money they contribute every year to their local school districts and see what they say. So there's so much money that gets poured into the local economy via real estate investors. And that comes in the form of real estate taxes, property management fees, paying local vendors for goods and services. So, so many investors spend a ton of money on these properties and local neighborhoods that actually are making them more attractive and welcoming, which can often lead to safer communities. So it's so easy for someone to just see one side of the coin and say, Oh, you you're collecting rents. You're making money off this person. Well, yeah, but also there's the other side where I'm contributing to society, paying taxes and making the schools better. So if you want me to stop doing that, that's a different conversation, but you really have to understand both sides of that coin to have an intelligible conversation about it.   Emil: Bravo, sir, drop the mic, please.   Michael: Mic drop it and walk away from that person. And just kind of in this same vein, I would also encourage anyone who comes up against any kind of resistance to really try to have a discussion with that other person about why they feel the way that they do. And try to understand why what they're talking about may or may not be applicable to your personal situation. Because I think real estate investing is this huge, huge topic. On the podcast, we talk about the remote real estate investing, which is one kind of niche of that, but there's so many other different topics and variances on real estate investing. So a lot of people here real estate investments like, ah, they're evil, they're the worst people in the world. Well, okay. Yeah. There might be some that are evil. It might be some of the worst people in the world, but you don't know me necessarily. And so let's try to understand what you're talking about and what I'm talking about. Cause so often they're not all the same thing.   Emil: I like that well said.   Michael: So just curious. I mean, have you guys ever run into any type of these comments? Have you gotten any flack for, you know, doing something that's maybe perceived as different from what your peers or others were doing? Emil: Yeah, definitely. I mean, I've mentioned on other episodes. My dad is a real estate investor here locally in Los Angeles and he thinks, you know, I'm kind of crazy. It's still, uh, when I was first starting, especially like what you're gonna buy property, where again, and it's common for people to feel that way because traditionally, everyone felt like, you know, my dad's whole thing is like, if I can't see it, touch it, feel it, there is no way. And that's fine. I think for some people, it just doesn't work mentally as just a blocker. But like Michael said, I think it's about being open to different things. And again, if the option is, do nothing or invest somewhere else to me, I'm not going to let that stop me personally.   Tom: Yeah. I think so many people have preconceived notion of what it means to be a real estate investors. And they have this idea of them running out with a hammer and taking the call and it's like, no, it's different than that. It's way more passive. It is way more team-driven, which has kind of been a theme of this episode. So throw away or assumptions on what it looks like and, and come to Roofstock Academy. No, but throw away your assumptions on what it looks like and look at some of these different strategies that we're talking about. If you're looking to do it in a more passive way and not throwing so much of your time of trying to make it work. The other comment that I've heard from some friends is, and this goes again, I think the greedy landlord piece is, you know, someone teasing, I was talking about real estate investment, like, Oh yeah. Always money and being a slum-lord. I'm like, you know, get outta here. Like I think, as I said, like there's a wellbeing aspect and like having these safe habitable places and working with your property manager to make sure that's part of your brand at the properties that you have, you know, it's, it's not about cutting corners and like maximizing every dollar. There's so much more to that.   Michael: Yeah. I totally agree.   Tom: And several of my friends have now invested, so I, uh, won the day. So go ahead.   Emil: And that was the point I was just about to make is I think when you network with other remote real estate investors and you realize there is an ecosystem of us doing it, it makes you feel a lot more confident. So if you don't know anyone else who's doing it, I highly recommend getting in touch with somebody network with them, talk, join groups, join, whatever. Just say, like build that network. I think it's, it's invaluable to have people around you who are doing things similar to you.   Michael: Yeah, absolutely. You know, when I first started investing, like you both, I caught so much of that flak of you're going where to invest, you know, why, what, that's stupid, you're there. You're crazy. And I'm like, yeah, well it makes sense to me. So, and now most of those friends I haven't since invested to, Oh, they see what's going on here. But yeah, so much of it too was I felt like this lone wolf, I didn't know there was a community out there. I didn't know the other people doing this. I just heard, yeah. People invest in real estate, but I didn't happen to know very many of them to ask them, you know, am I crazy? Is this insane? But now I realize no I'm laughing all the way to the bank. All right guys, any final thoughts on this stuff?   Pierre: I have a question in this vein of remote versus local investing. When would it make more investment sense to invest in your local market as opposed to remotely, if you live in an expensive area?   Michael: Super good question. I'll let you guys take it first.   Tom: I'll take the first stab at it. So excellent question Pierre of, when does it make sense to invest locally versus is remote. And I think it all has to start at what is your investment thesis? Like? What is your end game map? If I live in an area where I don't necessarily need the cashflow right now, and I'm pretty bullish on appreciation, I live in Northern California where properties are a little more expensive. Maybe it does make sense to invest in a property out here locally. If I'm looking for a property where there's a little bit more of a blend of appreciation and a bit more immediate cashflow, then maybe it would make sense to invest remotely. And to kind of get us to rephrase a little bit is, you know, what kind of returns are you looking for? Like if I had to make this analogous and that's right to like the stock market, like, am I investing in a growth company or am I investing in a new startup, but am I setting a value investing? Like what kind of strategy? And I think that will answer the question on where you're doing your investing at.   Emil: The only other thing I would add there is I think comes down to your comfort level. If you just can't for whatever reason, get yourself to invest remotely. I don't think you should just not invest. I think if you can invest locally, go for it, right. If you just can't get over the remote factor and you know, like you could be making better returns elsewhere. The thing is, is there's people investing locally doing insanely well and there's people investing remotely doing insanely well, I don't think this is a, you have to go local. You have to go remote. I think it's just by your comfort level, how much money you have to invest, you know, just your strategy and that your thesis, like Tom mentioned   Tom: Price point, great point. And also the volume of homes available. I mean, you're limited just in your own backyard of how many homes are for sale. Go ahead, Michael. I see you.   Michael: Yeah. I see you too buddy.   Tom: The light in me sees the light in you!   Pierre: Namaste!   Tom: Namaste   Michael: You know, from avatar, we need to hook up our ponytails.   Tom: Yeah. I'm touching the microphone.   Michael: So the last, I think those are both really great points. The last thing I want to add too it, is what the goal is and what are you trying to accomplish? But one thing I don't think that it has mentioned is the idea of house hacking, which is kind of this concept of you buy a house bigger than you need or a place bigger than you need and you live in it and rent out the other room. So you're kind of getting the best of both worlds and a kind of hybrid approach with, I have a place to live now and I'm making some rental income alongside with that. And so if you do that well enough, you could absolutely see similar returns to a traditional investment property at distance, but get the benefit of living in a house locally. And so what I think is really important to look at as the true opportunity cost and true total cost, because if you're investing somewhere else and continuing to rent while there's a cost associated with that, versus if you buy a house hack locally and are living in it, well, there's a different cost associated with that, but you're not paying rent anymore. So look at the whole picture. And I think just like Tom mentioned, you know, look define what your goal is. So I think I ha how's hacking is a really, really great way to get started in real estate investing and kind of get two birds with one stone and then just like Emil said, what the price point is and what your, you know, you're only going to qualify for X amount of dollars in a loan if you're going that route. And so that's going to be a limiting factor as well.   Pierre: What about buying from a family member would buying from a parent, make it more interesting in the way of tax benefits or anything like that?   Tom: I mean, a huge way to get ahead in real estate is any kind of discount to valuation. So like if there's any kind of sweetheart deal with that, I mean, you don't want to take advantage of your parents, but like if they're like open to giving you a little bit of a discount, like, man, that could be an immediate, huge head start because you already have like a little bit of equity in the house where some of the tools that we talked about pulling out equity, like cash out refi or HELOCS or all of that stuff like that can give you an advantage there in just the question of like, let's say you're paying fair market value. It really depends on if that house fits your investment thesis. So looking at the type of returns that you would get, then if it fits that then great. That makes sense. I'd say just kind of like specific to your question around family members. Like if you're able to get a little bit of, maybe it's not sweat equity, it's love equity. That's a huge step up.   Michael: One other thing too, that I've seen here that works really well. Especially if the house is owned free and clear is your family can finance it for you basically be the bank and you pay them a monthly payment as opposed to getting a mortgage. You can just get, you know, you guys decide what the terms are amongst yourselves. And it's so much easier. The one thing that I definitely would encourage people to look out for and I harp on this literally every day in the Academy is property taxes and especially if it's in California, because I asked my attorney once I was like, what if I just sell this house to my wife for a dollar? Because my property tax base is X, what my property tax has dropped to a dollar. And she's like, yeah, no, that's not how it works. If it's, if it's priced way under market, they're going to assess it at the fair market value and tax you on the fair market value. So even if you're getting a discount on the purchase price, that's great. You just want to be aware of what the taxes are going to look like after the fact. And especially with a lot of these family properties, they've been in the family for so long, they were purchased at such a low tax rate. So being aware of the tax rate and what that's going to jump to is really important for sure. It's going to move in California, but you just want to be aware of it. If you're in another state doing this type of deal, just be, you know, find out what that tax rate looks like. But great questions, man.   Tom: I got one more for this. So in the theme of this episode of your friends being able to speak intelligently, when you're, when people try to talk you out of investing in real estate, why aren't you just buying somebody else's property? Isn't there like a reason they're selling it? Why, why, why, why   Michael: Is it trash?   Tom: Isn't it trash if somebody's selling it, it must be a bad deal or something wrong with it. Michael, would you like to lead this one?   Michael: Yeah, it's a super great point and a really great question. I think I hear all the time in the Academy. I mean, it's just goes back to one. Man's trash is another man's treasure, but also you're probably not buying trash. I mean, people sell for any number of reasons. So we'd never know a motivation unless we ask. And so often sellers are selling out of desperation, whether that's, you know, divorce or they need cash for something. So it could be a really great property, could be really great deal. They're just selling it because they need the cash. They could also be selling because they got a nonperforming assets to be performing. And now it's really great. And so we talk about that a lot is adding value. You buy a crummy property, you fix it up. And now it's a really nice property. I mean, that's what turnkey is. Someone is selling a perfectly functioning and performing asset. And so giving people an opportunity to buy it means that they get to make some profit in the middle. So I definitely definitely disagree with that wholeheartedly. I think that people need to understand that there are so many reasons why someone could be selling a property.   Emil: No, the only other one I would add is what we call a tired landlord. So someone who just been doing this for 30, 40 years, they're done right. They've maybe they've been managing it this whole time by themselves. And they're like, I'm just, I've made my money. My market has appreciated. I'm going to do well on the sell. I just want to get out of the business. So they're tired and they just want to move on. That's another one.   Michael: I love how you said that. They're just, they're just exhausted.   Emil: Just, just tired man. I could,   Pierre: Did you have your dad in mind when you're commenting on this?   Emil: My dad is such a, such a tired landlord. He's an exhausted landlord. He is. He is just like, pardon me. Thinks he loves complaining about being a landlord though. It's just like in him that he likes to compete. It gives him a discussion topic.   Tom: Yeah. My comments would be on this is concerns around, you know, why is the sellers have a process and the way that you evaluate the homes that is consistent. So once the property goes through the ringer where you're looking at, you know, condition value, tenant, if they're, it is occupied, all that stuff, you can really make the assessment. If it's a good or a bad deal. And don't overthink seller motivations, just like Michael said, there's going to be any number of reasons within Roofstock there's all kinds of different types of sellers. There are individuals, there are bigger institutions, there are funds and sometimes the funds just expire or sometimes they move, you know, the geographic concentration, they might move to a different market. So I wouldn't overthink it and just do your homework and follow the right steps and doing your evaluation of the property.   Michael: Okay. So now I've got a question for you guys kind of a fun one. And just so all of our listeners know, I didn't tell a meal pier and Tom, what the question was before we started recording this. So they are totally going to be blindsided by this. And it's a, it's a pretty traditional question. It's one that, you know, I think is asked pretty regularly of people, but I put a little bit of a spin kind of unique twist to it. So the question is you're stranded on a desert Island. There's the very typical question that I want to know the answer to of what two items would you sum into your location to help you escape to survive? But also I want to know where's the most ideal setting for said deserted Island,   Emil: Bali, a surf board, because the waves are going to be amazing deserted Island. I'm just, I don't even know if I'd want to leave. Honestly. I'm not trying to get out of there if I'm just stranded in Bali, no one around amazing waves.   Tom: Do you guys watch naked and afraid?   Michael: Yeah. It's so good.   Tom: What would your survivor score be?   Michael: Oh, I would start it probably a six and end at a 7/8. Oh, underdog performing. Sorry. I interrupted. Go ahead.   Emil: Alright, so I'd want to surf board item two…   Tom: Are we picking locations or picking what we're bringing with us? What's the situation?   Michael: Both! Emil: A laptop that has a never ending battery and access to internet.   Michael: No dude, we're not playing this “imagine if the best invention” game.   Emil: You did, you did not give me any rules, constraints. It's up to my imagination. Creativity.   Michael: All right. That's reasonable. And the first thing I would do is use said computer magical computer to get a ticket for my wife and daughter to come join me at the Island.   Tom: So, if you're going down, you're dragging them with you.   Emil: That's right. Tom, what would you, what would you bring and where would you be?   Tom: I think I'd be on the oldest Island of the Hawaiian islands. I'd be in Kauai just because it's, you know, lots of fish around there. I would bring some Kool-Aid from 2000 just cause I know it's diluted. I could just use a little bit. That's going to last me a very long time to match my 20, 20 taste buds. It would last a very long time and yeah, I think I would somehow finagle my wife and son to come join me too with that magic computer that I would borrow from Emil. So there we go. I got Kool-Aid and magic computer.   Michael: All right, Pierre, where are you stranded and what would you bring?   Pierre: Hmm, maybe somewhere in the Mediterranean, like Malta and I would bring a guitar and a hatchet.   Michael: Nice see. Pierre's the real survivor here.   Tom: Which guitar?   Pierre: I'd bring my acoustic. Probably my Taylor. Yeah, my guitar and a hatchet. Cause I forget what the saying is exactly, but it's with a pocket knife, you can survive, but with a hatchet you can live like a king. a nice I'd built some stuff for sure.   Michael: Nice.   Tom: You're already practicing. You're hurting right now. We go to peers does desert Maltin paradise and he's mid century. Nice couches beds built. Starts a popup shop.   Tom: You're turn Michael.   Michael: I would probably go to be in Bermuda because I hear some crazy stuff happens there. I'd be very curious to see what's going on. My two items would probably be a satellite phone so I could order all kinds of great stuff. And if I say anything other than hatchet, I'm looked like a chump. I think I should also bring a hatchet.   Tom: Your survival skill just went down. Your Pierre's survivors went down because you had advanced tools.   Michael: I could have brought a chop saw.   Tom: Yeah. You just went to a 5.5.   Michael: Oh, it's such a ridiculous show. Naked and Afraid. But it's so interesting to see what people bring I'm waiting for the day with two people bring the same thing. Like they both bring a lighter and like, Oh crap. Like we didn't talk about this beforehand.   Michael: Well, that was our show. Everybody. Thank you so much for listening. We hope you enjoyed it. Don't forget to give us a rating or review wherever it is. You listen to your podcasts, subscribe as well. And we look forward to seeing you on the next one.   Tom: Happy investing.   Emil: Happy investing.  

OU LIVE is back from Pesach with a powerful special interview for Yom HaShoa. Dr. Shay Pilnik is the Founder of YU's brand new Emil A. and Jenny Fish Center for Holocaust and Genocide Studies. We'll be asking hard questions for a year that's seen a spike in antisemitism: has Holocaust education been successful? How do we know? How will it change? Are we diluting its message?

Dr Shay Pilnik is the Founder of the Emil A. and Jenny Fish Center for Holocaust and Genocide Studies at Yeshiva University.

Fjallað um bókina Vetrargulrætur eftir Rögnu Sigurðardóttur. Gestir þáttarins eru Jóna Hlíf Halldórsdóttir, forstöðumaður Gerðarsafns, og Aðalsteinn Emil Aðalsteinsson, sem skrifað hefur sögur og gagnrýni í menningartímaritið Skandala. Umsjón: Auður Aðalsteinsdóttir.

Fjallað um bókina Vetrargulrætur eftir Rögnu Sigurðardóttur. Viðmælendur eru Jóna Hlíf Halldórsdóttir, forstöðumaður Gerðarsafns, og Aðalsteinn Emil Aðalsteinsson, sem skrifað hefur sögur og gagnrýni í menningartímaritið Skandala. Umsjón: Auður Aðalsteinsdóttir.

TimeOut fortsetter å banke på med nye medlemmer, denne gangen er det to nye stemmer å høre. I ukens podcast kan du lære mye om amerikansk fotball. I tillegg til litt lærdom kan du le så tårene triller når en av gutta virkelig får kjenne på hva en chilli har å tilby. I studio: Emil A.M. Nordpoll, Axel Stenstadvold, Tobias O. Manskow

Sesongen pangstarter når staffetpinnen sendes videre. I årets første episode får du servert noen gamle, og noen nye spalter. Tune in for en smakebit på hva som er i vente. I studio: Emil A.M. Nordpoll, Stian Tonning, Magnus Windelstad.

Solar Panels keep getting better, but what if we could have solar power even when it's very overcast? Plus is there a way to make concrete greener and less carbon intensive? What if one of those solutions also helped take care of waste product from Coal Power Plants? We look at innovative green technologies this week in Lagrange Point.  Joshua Shank, Emil A. Kadlec, Robert L. Jarecki, Andrew Starbuck, Stephen Howell, David W. Peters, Paul S. Davids. Power Generation from a Radiative Thermal Source Using a Large-Area Infrared Rectenna. Physical Review Applied, 2018; 9 (5) DOI: 10.1103/PhysRevApplied.9.054040 Sarvesh Kumar Srivastava, Przemyslaw Piwek, Sonal R. Ayakar, Arman Bonakdarpour, David P. Wilkinson, Vikramaditya G. Yadav. A Biogenic Photovoltaic Material. Small, 2018; 14 (26): 1800729 DOI: 10.1002/smll.201800729 Gang Xu, Jing Zhong, Xianming Shi. Influence of graphene oxide in a chemically activated fly ash. Fuel, 2018; 226: 644 DOI: 10.1016/j.fuel.2018.04.033 Sung Hoon Hwang, Rouzbeh Shahsavari. High calcium cementless fly ash binder with low environmental footprint: Optimum Taguchi design. Journal of the American Ceramic Society, 2018; DOI: 10.1111/jace.15873

Thu, 1 Apr 1993 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9514/1/stief_christian_9514.pdf Tanagho, Emil A.; Lue, Tom F.; Wetterauer, Ulrich; Bosch, Ruud J. L. H.; Bénard, Francois; Stief, Christian Georg ddc:610, Medizin

Wed, 1 Jan 1992 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9815/1/9815.pdf Tanagho, Emil A.; Lue, Tom F.; Stief, Christian Georg; Bénard, Francois; Aboseif, Sherif R.; Takahashi, Y.

Mon, 1 Apr 1991 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9813/1/stief_christian_9813.pdf Tanagho, Emil A.; Lue, Tom F.; Bosch, Ruud J. L. H.; Bénard, Francois; Stief, Christian Georg; Diederichs, W. ddc:610, Medizin

Tue, 1 Jan 1991 12:00:00 +0100 https://epub.ub.uni-muenchen.de/10318/1/10318.pdf Tanagho, Emil A.; Lue, Tom F.; Stief, Christian Georg; Aboseif, Sherif R.; Bénard, Francois; Bosch, Ruud J. L. H. ddc:610, Medizin 0

Tue, 1 Jan 1991 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9783/1/9783.pdf Tanagho, Emil A.; Lue, Tom F.; Stief, Christian Georg; Diederichs, W. ddc:610, Medizin

Tue, 1 Jan 1991 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9506/1/9506.pdf Tanagho, Emil A.; Lue, Tom F.; Goldsmith, P. C.; Padula, C.; Bénard, Francois; Diederichs, W.; Bosch, Ruud J. L. H.; Stief, Christian Georg d

Mon, 1 Jan 1990 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9505/1/stief_christian_9505.pdf Tanagho, Emil A.; Aboseif, Sherif R.; Bosch, Ruud J. L. H.; Bénard, Francois; Stief, Christian Georg ddc:

Mon, 1 Jan 1990 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9371/1/9371.pdf Tanagho, Emil A.; Lue, Tom F.; Aboseif, Sherif R.; Bosch, Ruud J. L. H.; Bénard, Francois; Stief, Christian Georg

Mon, 1 Jan 1990 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9778/1/9778.pdf Tanagho, Emil A.; Schmidt, R.; Stief, Christian Georg; Bénard, Francois; Aboseif, Sherif R.; Bosch, Ruud J. L. H.

Mon, 1 Jan 1990 12:00:00 +0100 https://epub.ub.uni-muenchen.de/10315/1/10315.pdf Tanagho, Emil A.; Lue, Tom F.; Stief, Christian Georg; Bosch, Ruud J. L. H.; Bénard, Francois; Breza, J.; Wetterauer, Ulrich; Aboseif, Sherif R. ddc

Mon, 1 Jan 1990 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9774/1/9774.pdf Tanagho, Emil A.; Lue, Tom F.; Stief, Christian Georg; Diederichs, W. ddc:610, Medizin

Sun, 1 Jan 1989 12:00:00 +0100 https://epub.ub.uni-muenchen.de/10329/1/10329.pdf Tanagho, Emil A.; Lue, Tom F.; Wetterauer, Ulrich; Persson-Jünemann, C.; Diederichs, W.; Stief, Christian Georg ddc:610, Medizin

Sun, 1 Jan 1989 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9835/1/9835.pdf Tanagho, Emil A.; Lue, Tom F.; Stackl, W.; Stief, Christian Georg; Aboseif, Sherif R.; Bénard, Francois; Bosch, Ruud J. L. H.

Sun, 1 Jan 1989 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9773/1/9773.pdf Tanagho, Emil A.; Lue, Tom F.; Stackl, W.; Stief, Christian Georg; Bénard, Francois; Bosch, Ruud J. L. H.; Breza, J.; Aboseif, Sherif R.

Sun, 1 Jan 1989 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9370/1/9370.pdf Tanagho, Emil A.; Lue, Tom F.; Aboseif, Sherif R.; Bosch, Ruud J. L. H.; Bénard, Francois; Diederichs, Wolfgang; Stief, Christian Georg ddc:6

Sun, 1 Jan 1989 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9368/1/9368.pdf Tanagho, Emil A.; Lue, Tom F.; Nunes, Lora; Aboseif, Sherif R.; Bosch, Ruud J. L. H.; Bénard, Francois; Stief, Christian Georg ddc:610, Medizin

Fri, 1 Jan 1988 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9365/1/9365.pdf Tanagho, Emil A.; Lue, Tom F.; Bosch, Ruud J. L. H.; Diederichs, Wolfgang; Bénard, Francois; Stief, Christian Georg ddc:610, Medizin

Fri, 1 Jan 1988 12:00:00 +0100 https://epub.ub.uni-muenchen.de/9364/1/9364.pdf Tanagho, Emil A.; Lue, Tom F.; Bosch, Ruud J. L. H.; Bénard, Francois; Diederichs, W.; Stief, Christian Georg ddc:610, Medizin