Accredited Income Property Investment Specialist (AIPIS)

Wouldn’t it be nice to see an interesting property on the internet and send someone else halfway across the U.S. to take photos of it for you? What about checking up on one of your existing properties to inspect the hail damage first hand. WeGoLook has an army of 20,000 “lookers” who can send you photos, videos or answer specific questions. They are even able to visit the local municipality to perform a title search. 

Key Takeaways:

[1:55] How WeGoLook evolved

[4:16] We offer a basic report with photos/videos to answer any questions you have

[7:10] We offer an hourly rate for one-off services

[9:06] We also do document research, title searches and visit municipalities for customers

[11:27] We cover the U.S., the UK, Australia and Canada

[13:24] WeGoLook offers these services at these rates

[17:32] People can order services directly from our website

[18:56] We charge travel fees and research fees for those locations which are hard to reach

[22:14] We see ourselves going global in the future

[23:44] We also service fortune 500 companies as field assignment personnel

Mentions:

WeGoLook

Owning the most historically proven asset class, income property, is getting easier. This new service allows landlords to screen tenants, view credit reports and collect rents from a smartphone or tablet. There are nominal fees built into services like debit card processing and the obtaining of a credit report which are paid for by tenants. Professional property owners now have a one-stop shop for managing their income properties, no matter where they are in the world.

Key Takeaways:

[2:59] What exactly is Cozy and how did it start?

[6:12] A landlord has access to a tenant’s credit report without the chance of identity theft

[7:11] An agent can only use the screening tools or the full-service option

[10:45] Can a landlord can still add an application fee to cover their time spent?

[13:30] Credit reports & background checks have a fee associated with them via Cozy

[15:22] Automated Clearing House (ACH) payments are free between landlord and tenants

[17:57] Cozy eats the cost of transactions in exchange for client satisfaction

[19:12] 2 ways for a landlord to initiate payments

[21:33] Cozy’s goal is to be the best one-stop shop for realizing rent payments

[23:43] Rental markets are in the U.S. are fragmented and hard to access

[26:30] Cozy is available on your phone or tablet and new services are coming

Mentions:

Cozy

@cozyco

Owning the most historically proven asset class, income property, is getting easier. This new service allows landlords to screen tenants, view credit reports and collect rents from a smartphone or tablet.  There are nominal fees built into services like debit card processing and the obtaining of a credit report which are paid for by tenants. Professional property owners now have a one-stop shop for managing their income properties, no matter where they are in the world. 

Key Takeaways:

[2:59] What exactly is Cozy and how did it start?

[6:12] A landlord has access to a tenant’s credit report without the chance of identity theft

[7:11] An agent can only use the screening tools or the full-service option

[10:45] Can a landlord can still add an application fee to cover their time spent?

[13:30] Credit reports & background checks have a fee associated with them via Cozy

[15:22] Automated Clearing House (ACH) payments are free between landlord and tenants

[17:57] Cozy eats the cost of transactions in exchange for client satisfaction

[19:12] 2 ways for a landlord to initiate payments

[21:33] Cozy’s goal is to be the best one-stop shop for realizing rent payments

[23:43] Rental markets are in the U.S. are fragmented and hard to access

[26:30] Cozy is available on your phone or tablet and new services are coming

Mentions:

Cozy

@cozyco

You don’t have to wait to start building your real estate portfolio. Many for sale by owner properties have sellers motivated by changes in their lives and problems which you may have the answer to. You may even be able to get creative with financing terms if you solve their particular issue. Your risk may be mitigated by living in the single family home you bought, while doing the right renovations for the neighborhood. If you wait to get started creating your wealth your wealth may never be created.

Key Takeaways:

[3:00] How David got started in real estate

[4:27] Doing the right renovations for the right amount of money

[8:20] The risk is mitigated by living in the home for a while

[9:20] Positive cash flow real estate

[12:03] Allowing your real estate portfolio to give you complete financial freedom

[13:41] Commandment #5 - Thou shalt not gamble when buying property

[14:39] Vacant land sucks money out of your pocket

[15:43] If your partner can deal with some construction dust you can start your portfolio now

[18:17] We decided to remove the marginal properties from our portfolio

[20:44] A history lesson from Jason about deferred down payment plans

[24:51] Making money at negotiating the real estate deal through For Sale By Owner

[28:12] Creative financing tips that solve problems

[31:45] Rent to own is it worth it?

Mentions:

Amplified Living

Crank it Up Podcast

JasonHartman.com

You don’t have to wait to start building your real estate portfolio. Many for sale by owner properties have sellers motivated by changes in their lives and problems which you may have the answer to. You may even be able to get creative with financing terms if you solve their particular issue. Your risk may be mitigated by living in the single family home you bought, while doing the right renovations for the neighborhood. If you wait to get started creating your wealth your wealth may never be created.

Key Takeaways:

[3:00] How David got started in real estate

[4:27] Doing the right renovations for the right amount of money 

[8:20] The risk is mitigated by living in the home for a while

[9:20] Positive cash flow real estate

[12:03] Allowing your real estate portfolio to give you complete financial freedom

[13:41] Commandment #5 - Thou shalt not gamble when buying property

[14:39] Vacant land sucks money out of your pocket

[15:43] If your partner can deal with some construction dust you can start your portfolio now

[18:17] We decided to remove the marginal properties from our portfolio

[20:44] A history lesson from Jason about deferred down payment plans

[24:51] Making money at negotiating the real estate deal through For Sale By Owner

[28:12] Creative financing tips that solve problems

[31:45] Rent to own is it worth it?

Mentions:

Amplified Living

Crank it Up Podcast

JasonHartman.com

The human behavior coach speaks with us today about what makes people tick and how to prioritize tasks in an effective manner. Research show us, chunking of information is necessary for people to properly digest large amounts of data. A logical flow is applied so the information is then thoroughly understood. Beverly dissects her SHIFT model which she created for one of her large corporate customers.

Key Takeaways:

[2:24] Beverly struggled to bridge the gap between her education and her careers

[4:10] Humans can only understand up to 7 pieces of information at one time

[5:33] The Shift model - The 5 steps

[6:29] Specify the desired outcome

[10:38] Highlight and categorize the obstacles

[12:03] Identify the human factor

[13:53] Find the alternative

[15:01] Take the disciplined action

[17:21] Figure out your top 3 priorities

[18:33] Not all communication comes naturally

[19:30] Contact Bev

[20:07] Have a clear destination and a clear plan to get there

Mentions:

The Collaborative

Understanding Other People

Make Your Shift

Suffolk University

The human behavior coach speaks with us today about what makes people tick and how to prioritize tasks in an effective manner. Research show us, chunking of information is necessary for people to properly digest large amounts of data. A logical flow is applied so the information is then thoroughly understood. Beverly dissects her SHIFT model which she created for one of her large corporate customers.

Key Takeaways:

[2:24] Beverly struggled to bridge the gap between her education and her careers

[4:10] Humans can only understand up to 7 pieces of information at one time

[5:33] The Shift model - The 5 steps

[6:29] Specify the desired outcome

[10:38] Highlight and categorize the obstacles

[12:03] Identify the human factor

[13:53] Find the alternative

[15:01] Take the disciplined action

[17:21] Figure out your top 3 priorities

[18:33] Not all communication comes naturally

[19:30] Contact Bev

[20:07] Have a clear destination and a clear plan to get there

Mentions:

The Collaborative

Understanding Other People

Make Your Shift

Suffolk University

The mobile home park market may be dwindling, but it doesn’t mean it’s not possible to make money by investing in one. Many existing locations have been ignored by previous owners and with some smart updates and fixes an investor is able to raise rents to market value and start making a profit. Listen in as our guest talks speaks about basic financials as well as working with brokers to find a property.

Key Takeaways:

[2:34] Jefferson is the value investing type

[4:50] Mobile home park investing is a fairly undiscovered niche

[6:41] How to find a good deal on mobile home parks

[7:37] Working with brokers to find properties

[9:17] What is the acquisition criteria to find a good property

[12:25] We’d prefer to just own the land

[14:14] The rent credit program is similar to rent to own

[15:23] Basic financials - down payment, rent info

[16:19] Mobile home park investing is the only asset class which is shrinking

[19:48] Does the government still build single family affordable housing

[21:10] I got into this business with the wrong mindset

[22:37] Example legal fees and compliance to start

[23:43] An Oklahoma property case study

Mentions:

Park Street Partners

Marcus & Millichap

Tulsa Estates

Hartman Media

The mobile home park market may be dwindling, but it doesn’t mean it’s not possible to make money by investing in one. Many existing locations have been ignored by previous owners and with some smart updates and fixes an investor is able to raise rents to market value and start making a profit. Listen in as our guest talks speaks about basic financials as well as working with brokers to find a property.

Key Takeaways:

[2:34] Jefferson is the value investing type

[4:50] Mobile home park investing is a fairly undiscovered niche

[6:41] How to find a good deal on mobile home parks

[7:37] Working with brokers to find properties

[9:17] What is the acquisition criteria to find a good property

[12:25] We’d prefer to just own the land

[14:14] The rent credit program is similar to rent to own

[15:23] Basic financials - down payment, rent info

[16:19] Mobile home park investing is the only asset class which is shrinking

[19:48] Does the government still build single family affordable housing

[21:10] I got into this business with the wrong mindset

[22:37] Example legal fees and compliance to start

[23:43] An Oklahoma property case study

Mentions:

Park Street Partners

Marcus & Millichap

Tulsa Estates

Hartman Media

We break closing costs down into small pieces to support Jason’s #1 rule of investing, thou shalt become educated, to become your own best advisor. Understanding which costs are fixed and which are variable will help you to protect yourself and allow you to become your own best advisor. We take the confusion out of calculating the fees.

Make sure to listen to future episodes for information on how mortgages are priced.

Key Takeaways:

[2:04] Thou shalt become educated to become your own best advisor

[2:29] An example of a loan quote

[3:31] Lenders over estimate certain charges

[5:27] Requirements for good faith estimates

[7:35] What are lender or origination (garbage) fees

[8:43] Using an example of $142,500, figuring out the closing costs

[10:21] Insurance charges for lenders and owners

[11:30] Lender’s title insurance is one of the highest fees on the HUD settlement statement

[11:52] Depending on your state the seller provides the clean title insurance

[12:42] Transfer stamps/taxes are local municipal charges

[14:48] Recording fees

[15:32] Points are fees to buy down the interest rates

Mentions:

Creating Wealth Encyclopedia Series

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