Flipping America

Our guest today is Mitch Stephen. Mitch is a self-taught real estate entrepreneur. Self-employed since 1996, Mitch Stephen has purchased well over 1000 houses in and about his hometown of San Antonio, TX. A high school graduate, who never stopped learning. Books, CDs, seminars and webinars were his classroom. Today he specializes in owner financing properties to individuals left behind by traditional lending institutions and giving new life to properties that scar the neighborhoods. He has perfected a method of achieving cash-flow without having to be a landlord and without having to rehab properties. He’s mastered the art of raising private money and the classic “Nothing Down” deal. He has pioneered the idea that you don’t have to give discounts to sell your notes. A passionate speaker who delivers the message of integrity first and profits second; an expert at keeping it simple and explaining, in plain English, the theories that made him financially independent. He is always an inspiration to those around him.

Opening:

We have a fascinating show lined up for you today. How's your 401k doing? Over the past 18 months, probably great! Do you have any protection for the inevitable market correction that may have already begun or are you just riding the waves of the stock market and hoping for the best? Here at Flipping America we encourage everyone to have real estate as a part of a balanced investment portfolio.

1. Value never goes to zero.
2. Potential cash flows.
3. Tax advantages from expenses and depreciation.
4. Build equity and net worth.

Today I'm going to tell you how you can grow a fortune in real estate and avoid a heavy tax burden. You can open an individual retirement account, separate from the one at work and if you set it up correctly, you will never pay taxes on the money you make in it. My guest is today is Mike Ventry of Advanta IRA, Mike is the Business Development Director in the Atlanta office.

Announcements:

• Call in to our comments line! 404-369-1018, extension 1. Leave your message. Contractor Fails Stories.
• [email protected] Tell us where you're from!
• Like us on Facebook. www.facebook.com/flippingamericamedia
• Follow us on Twitter and Instagram @FlippingAmerica

Special Guest

• Mike Ventry

Emails:

[email protected] Tell us where you're from!

• Question from many people: "Roger how can I participate with you in your deals?"Private Lending program. http://bit.ly/FlippingAmericaPrivateLending
• Alonzo, Las Vegas "The market here in Vegas is on fire. It's hard to buy properties low enough to fit the numbers you teach. Could I go a little higher and maybe hold on to them for awhile?"
• Kelly, Lansing MI "I'm just getting into this business and am making offers like you suggest. What are some of the top challenges I'm about to face?"

Opening:

We have a fascinating show lined up for you today. How’s your 401k doing? Over the past 18 months, probably great! Do you have any protection for the inevitable market correction that may have already begun or are you just riding the waves of the stock market and hoping for the best? Here at Flipping America we encourage everyone to have real estate as a part of a balanced investment portfolio.

1. Value never goes to zero.
2. Potential cash flows.
3. Tax advantages from expenses and depreciation.
4. Build equity and net worth.

Today I’m going to tell you how you can grow a fortune in real estate and avoid a heavy tax burden. You can open an individual retirement account, separate from the one at work and if you set it up correctly, you will never pay taxes on the money you make in it. My guest is today is Mike Ventry of Advanta IRA, Mike is the Business Development Director in the Atlanta office.

Announcements:

• Call in to our comments line! 404-369-1018, extension 1. Leave your message.  Contractor Fails Stories.
• [email protected] Tell us where you’re from!
• Like us on Facebook. www.facebook.com/flippingamericamedia
• Follow us on Twitter and Instagram @FlippingAmerica

Special Guest

• Mike Ventry

Emails:

[email protected] Tell us where you’re from!

• Question from many people: “Roger how can I participate with you in your deals?”Private Lending program.  http://bit.ly/FlippingAmericaPrivateLending
• Alonzo, Las Vegas “The market here in Vegas is on fire. It’s hard to buy properties low enough to fit the numbers you teach. Could I go a little higher and maybe hold on to them for awhile?”
• Kelly, Lansing MI “I’m just getting into this business and am making offers like you suggest. What are some of the top challenges I’m about to face?”

Wrapping up 2017 and heading into 2018, Roger looks back and then looks ahead. What will the new year bring? Roger makes his predictions.

Interest rates

Home values

Home sales

Market trends

Wrapping up 2017 and heading into 2018, Roger looks back and then looks ahead. What will the new year bring? Roger makes his predictions.

Interest rates

Home values

Home sales

Market trends

FAR 125 Expected Air Date: 03/3/18 Opening: Hello everyone. I am Roger Blankenship and I teach people how to make money in Real Estate. We bring you news, trends, markets, and we feature people who are getting it done in this industry. Today we are going to catch up on some listener emails. You folks are asking GREAT questions and I want to answer them on the air so many will benefit, but I also don't like to keep you waiting this long. Over the next few shows we are going to start talking about Buy and Hold Strategies and the wisdom around that. If you haven't already seen the video, plan to head over to FlippingAmericaNetwork.com/video and watch me explain the buying formulas. Monday we are going to talk all about property management with Katie Griffin, an Atlanta based property manager. Over the next week or so I'm going to introduce you to people who are buying apartments, creating turn-key rental properties, and providing other services for you as a buy and hold investor. So today our focus is on cash-flow. We will continue to answer any questions you have and help you in any way we can, but this is the theme. Remember we answer 100% of the questions you send in, some of them on the show. So keep them coming. News:

• http://www.globest.com/2018/02/28/the-next-big-trend-in-industrial/
• https://www.realtor.com/news/trends/buy-theyre-gone-metros-fastest-growing-homeownership-rates/

• https://www.reuters.com/article/britain-eu-jobs/a-year-to-go-before-brexit-u-s-investment-banks-still-bet-on-london-idUSL8N1QI6G2
• https://www.mansionglobal.com/articles/90310-minimal-price-drops-in-london-point-to-a-stabilizing-real-estate-market
• https://www.knoxnews.com/story/money/business/2018/03/02/knoxville-real-estate-homes-houses-condos-apartments/378349002/
• https://www.forbes.com/sites/forbestechcouncil/2018/03/02/how-blockchain-can-really-impact-real-estate-investing/#408c17ff7c1c
• https://www.forbes.com/sites/ingowinzer/2018/03/01/investing-in-california-real-estate-here-are-a-few-things-you-should-know/#5ef3a2e76d6e

Comment Line calls and Questions Call 404-369-1018, press 1 and leave your message! Emails: [email protected] Tell us where you're from!

• Chaz,Milwaukee, WI "You talk about knowing your daily costs on a flip. Do you have a calculator for it? How do you know it so precisely?"
• Dean, Waco, TX, "What is the 1% rule and how does that relate to cap rate?"
• Sally, Columbus, GA "I've bought 4 properties, fixed them up and turned them into rentals. I want to do more, but I don't have money for down-payments and repairs. Is there some way to pull cash out of what I own already to fund more purchases?"
• Laura, Villages of Ocala "I own 7 rentals in Georgia but I'm having a hard time finding good property management. Can you help me with either good management referrals or an exit plan? I'd love it if you would just buy them from me."
• Doug, Lansing, MI, "What do you look for in a rental house?"
• Sherry, Las Vegas, NV "I think I heard you talking with someone on a prior show about making raw land cash flow. Can you review what you all discussed?"
• Jackie, Long Beach, CA "I want rental properties, but not in California. Can you help me find them in other good places across the US?"

FAR 125 Expected Air Date: 03/3/18 Opening: Hello everyone. I am Roger Blankenship and I teach people how to make money in Real Estate. We bring you news, trends, markets, and we feature people who are getting it done in this industry. Today we are going to catch up on some listener emails. You folks are asking GREAT questions and I want to answer them on the air so many will benefit, but I also don’t like to keep you waiting this long. Over the next few shows we are going to start talking about Buy and Hold Strategies and the wisdom around that. If you haven’t already seen the video, plan to head over to FlippingAmericaNetwork.com/video and watch me explain the buying formulas. Monday we are going to talk all about property management with Katie Griffin, an Atlanta based property manager. Over the next week or so I’m going to introduce you to people who are buying apartments, creating turn-key rental properties, and providing other services for you as a buy and hold investor. So today our focus is on cash-flow. We will continue to answer any questions you have and help you in any way we can, but this is the theme. Remember we answer 100% of the questions you send in, some of them on the show. So keep them coming. News:

• http://www.globest.com/2018/02/28/the-next-big-trend-in-industrial/
• https://www.realtor.com/news/trends/buy-theyre-gone-metros-fastest-growing-homeownership-rates/

• https://www.reuters.com/article/britain-eu-jobs/a-year-to-go-before-brexit-u-s-investment-banks-still-bet-on-london-idUSL8N1QI6G2
• https://www.mansionglobal.com/articles/90310-minimal-price-drops-in-london-point-to-a-stabilizing-real-estate-market
• https://www.knoxnews.com/story/money/business/2018/03/02/knoxville-real-estate-homes-houses-condos-apartments/378349002/
• https://www.forbes.com/sites/forbestechcouncil/2018/03/02/how-blockchain-can-really-impact-real-estate-investing/#408c17ff7c1c
• https://www.forbes.com/sites/ingowinzer/2018/03/01/investing-in-california-real-estate-here-are-a-few-things-you-should-know/#5ef3a2e76d6e

Comment Line calls and Questions Call 404-369-1018, press 1 and leave your message! Emails: [email protected] Tell us where you’re from!

• Chaz,Milwaukee, WI “You talk about knowing your daily costs on a flip. Do you have a calculator for it? How do you know it so precisely?”
• Dean, Waco, TX, “What is the 1% rule and how does that relate to cap rate?”
• Sally, Columbus, GA “I’ve bought 4 properties, fixed them up and turned them into rentals. I want to do more, but I don’t have money for down-payments and repairs. Is there some way to pull cash out of what I own already to fund more purchases?”
• Laura, Villages of Ocala “I own 7 rentals in Georgia but I’m having a hard time finding good property management. Can you help me with either good management referrals or an exit plan? I’d love it if you would just buy them from me.”
• Doug, Lansing, MI, “What do you look for in a rental house?”
• Sherry, Las Vegas, NV “I think I heard you talking with someone on a prior show about making raw land cash flow. Can you review what you all discussed?”
• Jackie, Long Beach, CA “I want rental properties, but not in California. Can you help me find them in other good places across the US?”

FAR 126 Expected Air Date: 03/5/18 Opening: Hello everyone. I am Roger Blankenship and I teach people how to make money in Real Estate. We bring you news, trends, markets, and we feature people who are getting it done in this industry. Today we are starting a series I plan to continue over the next week or two as we think about Buy and Hold Strategies. Most of the people who want to invest in real estate want to own rental properties. There are certainly some benefits to this, including tax advantages and wealth building through equity, not to mention the possibility of extra cash. I say possibility because there isn't as much direct cash in owning rental houses as you might think. In fact, I'll go so far as to say that anyone who tells you you can borrow money, buy ten rental houses and then quit your job and live off that income is probably trying to sell you something. It just doesn't work out that way in real life. If you want to own a rental property or 20, you need to think about how you are going to manage those properties. If you own less than five properties in your own community, don't mind putting in a few hours a week, are fairly well organized and detail oriented, and are willing to educate yourself about your state's tenant laws and local regulations, you might want to manage your properties yourself. But you need to say yes to ALL of those things I just mentioned so I'll say them again: you own less than five properties in your own community, don't mind putting in a few hours a week, are fairly well organized and detail oriented, and are willing to educate yourself about your state's tenant laws and local regulations. If you say no or have any doubt about your ability to seriously follow through, you need a property manager. I'm a real estate professional but I don't manage my own rental properties, except for the one industrial building I own. Why? First of all, I don't have the time. Secondly, although I have managed them in the past, have done my own evictions and court cases and know HOW to do it, I don't WANT to. It's not the best use of my time. So I use property managers. I've had good ones and I've had not-so-good ones. The quality runs the gamut just like any other product or service. In a few moments we are going to speak with Katie Griffin, an Atlanta based property manager with Excalibur Properties. I'm going to throw a lot of questions at her just to see how she responds. Many of them are YOUR questions. After the interview I'm going to provide a few things to look for if you are thinking about hiring property management: Over the next week or so I'm going to introduce you to people who are buying apartments, creating turn-key rental properties, and providing other services for you as a buy and hold investor. So today our focus is on cash-flow. We will continue to answer any questions you have and help you in any way we can, but this is the theme. Remember we answer 100% of the questions you send in, some of them on the show. So keep them coming. Announcements:

• Call in to our comments line! 404-369-1018, extension 1. Leave your message. Contractor Fails Stories.
• [email protected] Tell us where you're from!
• Like us on Facebook. www.facebook.com/flippingamericamedia
• Follow us on Twitter and Instagram @FlippingAmerica
• Check out FlippingAmericaNetwork.com.

Special Guest

• Katie Griffin, Excalibur Homes, Atlanta GA

Emails: [email protected] Tell us where you're from!

• Sasan, Boulder, CO, "I have a tenant who wants to make a partial payment on the 1st and another on the 15th. How do I document this?"
• Ken, Murfreesboro, TN, "My tenant shorted the rent this month, claiming they had to fix a water leak under the sink. Said he did it himself, but that saved me about $200, so he took $200 out of the rent. I think he can't do this, but what do I do?"
• Alexandra, Fresno, CA "It's often a challenge to remove a tenant here in California. Where are some places that are more landlord friendly?"
• Eric, Portland, OR "Hey I just caught your show on iHeart radio and watched some of your videos on YouTube. Thanks for all the information. I'm about to buy my first place and I'm thinking I might buy a duplex, live in one side and rent out the other. Do you think this will work?"
• Robert, Tampa, FL "In your opinion what is the most reliable way to establish the fair market rent of a property? I'm not a realtor, don't have access to the MLS, and hate to bug my realtor friends about it all the time."
• Larue, Lancaster, PA, "How do you recommend screening your tenants?"
• Kenton, Pittsburgh, PA, "Is there a way I can do a credit check on a potential tenant? What I really want to know is whether they have been evicted."
• Sherry, Las Vegas, NV "I think I heard you talking with someone on a prior show about making raw land cash flow. Can you review what you all discussed?"

Topics:

• Questions for Property Manager:
  • How many properties does your firm manage?
  • How long have you been doing it?
  • Can you provide contact information with two or three of your landlords as a reference?
  • What are your fees? Both for placement and for management? (8% is normal)
  • What happens if a tenant you place leaves or is evicted before the lease is up?
  • Do you have your own repair company or do you have relationships with contractors? (You don't want them to have their own repair company - there is no price control on repairs).
  • What is your procedure for handling repairs, both minor and major?
  • May I see a copy of your contract?
    • You want to be able to cancel the agreement at any time with 30 or 60 day notice.
    • You probably don't want to have to pay them a commission if you decide to sell the house later. If you sell to a tenant they place, paying a real estate commission is reasonable, but they should offer something less than 6%. They have already been paid the placement fee, which covered their marketing costs.
• There is so much more to this process that you will learn WHEN you get started. You can't learn everything you need to know before you begin. Know the big stuff that could really hurt you and then begin. What are the big things?
  • What to pay for it?
  • Know what your initial fix-up costs are.
  • Know your remaining life on major items: roof, hvac primarily.
  • Have a plan for management.
  • Consider all the costs in your analysis - taxes, insurance, management, vacancies, expected repairs, and unexpected possibilities. Think 30% of revenue.

FAR 126 Expected Air Date: 03/5/18 Opening: Hello everyone. I am Roger Blankenship and I teach people how to make money in Real Estate. We bring you news, trends, markets, and we feature people who are getting it done in this industry. Today we are starting a series I plan to continue over the next week or two as we think about Buy and Hold Strategies. Most of the people who want to invest in real estate want to own rental properties. There are certainly some benefits to this, including tax advantages and wealth building through equity, not to mention the possibility of extra cash. I say possibility because there isn’t as much direct cash in owning rental houses as you might think. In fact, I’ll go so far as to say that anyone who tells you you can borrow money, buy ten rental houses and then quit your job and live off that income is probably trying to sell you something. It just doesn’t work out that way in real life. If you want to own a rental property or 20, you need to think about how you are going to manage those properties. If you own less than five properties in your own community, don’t mind putting in a few hours a week, are fairly well organized and detail oriented, and are willing to educate yourself about your state’s tenant laws and local regulations, you might want to manage your properties yourself. But you need to say yes to ALL of those things I just mentioned so I’ll say them again: you own less than five properties in your own community, don’t mind putting in a few hours a week, are fairly well organized and detail oriented, and are willing to educate yourself about your state’s tenant laws and local regulations. If you say no or have any doubt about your ability to seriously follow through, you need a property manager. I’m a real estate professional but I don’t manage my own rental properties, except for the one industrial building I own. Why? First of all, I don’t have the time. Secondly, although I have managed them in the past, have done my own evictions and court cases and know HOW to do it, I don’t WANT to. It’s not the best use of my time. So I use property managers. I’ve had good ones and I’ve had not-so-good ones. The quality runs the gamut just like any other product or service.   In a few moments we are going to speak with Katie Griffin, an Atlanta based property manager with Excalibur Properties. I’m going to throw a lot of questions at her just to see how she responds. Many of them are YOUR questions.   After the interview I’m going to provide a few things to look for if you are thinking about hiring property management:   Over the next week or so I’m going to introduce you to people who are buying apartments, creating turn-key rental properties, and providing other services for you as a buy and hold investor. So today our focus is on cash-flow. We will continue to answer any questions you have and help you in any way we can, but this is the theme. Remember we answer 100% of the questions you send in, some of them on the show. So keep them coming.   Announcements:

• Call in to our comments line! 404-369-1018, extension 1. Leave your message.  Contractor Fails Stories.
• [email protected] Tell us where you’re from!
• Like us on Facebook. www.facebook.com/flippingamericamedia
• Follow us on Twitter and Instagram @FlippingAmerica
• Check out FlippingAmericaNetwork.com.

Special Guest

• Katie Griffin, Excalibur Homes, Atlanta GA

Emails: [email protected] Tell us where you’re from!

• Sasan, Boulder, CO, “I have a tenant who wants to make a partial payment on the 1st and another on the 15th. How do I document this?”
• Ken, Murfreesboro, TN, “My tenant shorted the rent this month, claiming they had to fix a water leak under the sink. Said he did it himself, but that saved me about $200, so he took $200 out of the rent. I think he can’t do this, but what do I do?”
• Alexandra, Fresno, CA “It’s often a challenge to remove a tenant here in California. Where are some places that are more landlord friendly?”
• Eric, Portland, OR “Hey I just caught your show on iHeart radio and watched some of your videos on YouTube. Thanks for all the information. I’m about to buy my first place and I’m thinking I might buy a duplex, live in one side and rent out the other. Do you think this will work?”
• Robert, Tampa, FL “In your opinion what is the most reliable way to establish the fair market rent of a property? I’m not a realtor, don’t have access to the MLS, and hate to bug my realtor friends about it all the time.”
• Larue, Lancaster, PA, “How do you recommend screening your tenants?”
• Kenton, Pittsburgh, PA, “Is there a way I can do a credit check on a potential tenant? What I really want to know is whether they have been evicted.”
• Sherry, Las Vegas, NV “I think I heard you talking with someone on a prior show about making raw land cash flow. Can you review what you all discussed?”

Topics:

• Questions for Property Manager:
  • How many properties does your firm manage?
  • How long have you been doing it?
  • Can you provide contact information with two or three of your landlords as a reference?
  • What are your fees? Both for placement and for management? (8% is normal)
  • What happens if a tenant you place leaves or is evicted before the lease is up?
  • Do you have your own repair company or do you have relationships with contractors? (You don’t want them to have their own repair company - there is no price control on repairs).
  • What is your procedure for handling repairs, both minor and major?
  • May I see a copy of your contract?
    • You want to be able to cancel the agreement at any time with 30 or 60 day notice.
    • You probably don’t want to have to pay them a commission if you decide to sell the house later. If you sell to a tenant they place, paying a real estate commission is reasonable, but they should offer something less than 6%. They have already been paid the placement fee, which covered their marketing costs.
• There is so much more to this process that you will learn WHEN you get started. You can’t learn everything you need to know before you begin. Know the big stuff that could really hurt you and then begin. What are the big things?
  • What to pay for it?
  • Know what your initial fix-up costs are.
  • Know your remaining life on major items: roof, hvac primarily.
  • Have a plan for management.
  • Consider all the costs in your analysis - taxes, insurance, management, vacancies, expected repairs, and unexpected possibilities. Think 30% of revenue.

FAR 127 Expected Air Date: 03/8/18 Opening: Hello everyone. I am Roger Blankenship and I teach people how to make money in Real Estate. We bring you news, trends, markets, and we feature people who are getting it done in this industry. Coming up today is Eddie Lorin. During his 30-year career, Eddie Lorin has been responsible for the acquisition of more than $3.7 billion in office, industrial and apartment community assets nationwide. Since 2001, he has successfully purchased and transformed more than $3 billion worth of multifamily real estate (acting as either Principal or Advisor) amounting to more than 180 thriving communities with approximately 40,000 apartment units nationwide. Eddie Lorin also co-founded 501C-3 non-pro t HAPI Foundation, a 501(c)(3) organization that brings education and sustainable health, nutrition, and tness programs directly to the doorsteps of children and families living in multi-family apartment communities. Eddie's newest real estate venture, Impact Housing REIT, is on a mission to deliver good nancial, social and environmental returns to investors, while providing more a ordable, better quality housing, as well as HAPI-sponsored free health-related education, tness, gardening, and nutrition programs to residents and families living in apartment communities. The fund is currently raising funds to purchase the rst "naturally occurring a ordable housing" apartment community in its portfolio - a high rise in Silver Spring, Maryland. Announcements:

• Call in to our comments line! 404-369-1018, extension 1. Leave your message. Contractor Fails Stories.
• [email protected] Tell us where you're from!
• Like us on Facebook. www.facebook.com/flippingamericamedia
• Follow us on Twitter and Instagram @FlippingAmerica
• Check out FlippingAmericaNetwork.com.

News:

• https://www.realtor.com/news/trends/20-hottest-markets-real-estate-u-s-february-2018/
• http://www.miamiherald.com/news/business/real-estate-news/article203880569.html
• https://boingboing.net/2018/03/07/down-cad105k.html
• http://www.chicagonow.com/getting-real/2018/03/chicago-real-estate-market-huge-decline-in-february-contract-activity/
• https://www.prnewswire.com/news-releases/improved-residential-real-estate-market-produces-strong-results-in-john-dixon-auction-300610214.html
• http://www.nreionline.com/finance-investment/more-foreign-capital-flowing-real-estate-debt-funds
• https://seekingalpha.com/article/4154248-real-estate-trade-war-consequences-housing
• https://therealdeal.com/2018/02/21/how-artificial-intelligence-is-changing-real-estate-investment/

Special Guest

• Eddie Lorin