Flipping America

If you’re a regular listener to this show you know that I often ask my show guests what they really wanted to be when they grew up. My point behind this is to demonstrate that life doesn’t always turn out like we planned, but people have often found a nice “Plan B” in the realm of real estate. Today’s guest, Michael Green, saw a lite-nite infomercial with Carlton Sheets when he was thirteen years old and since that time, has wanted to be a real estate investor. He had some life detours - some BIG ones as you’re going to hear in a few minutes. But he stayed with that dream and today he is one of the more prolific and successful real estate investors in America. 

Now for the next part: Michael is in a tough area to do this business - Baltimore, MD. There are a lot of investors and it’s either high price points or massive rehab budgets on mostly unsalvageable properties. At least that’s the reputation. But Michael is living proof that in spite of personal circumstances, in the face of a very competitive marketplace, and against big odds, perseverance will win the day. His story is coming up in a few minutes. 

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437)    ext 1. Leave your message or your question. 

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind. 

Sponsors

American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFunding

Real Estate Investing QuickStart

Announcements:

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.  
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal ppossibilities. 
• “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

News: 

• Best Places inthe world to invest https://financesonline.com/real-estate-trends/
• In the category called “that’s a stretch” https://www.cnbc.com/2020/02/12/mini-mortgage-refinance-boom-continues-as-coronavirus-keeps-rates-low.html
• Stay in style with today’s tile. https://realestate.usnews.com/real-estate/slideshows/tile-trends-for-your-home-in-2020
• Remember - blame the dog! https://realestate.usnews.com/real-estate/articles/whats-that-smell-in-my-house
• The 2019 top FinTech companies, according to Forbes: https://www.housingwire.com/articles/forbes-names-most-innovative-fintech-companies-in-housing/
• It may be deceptive, but it’s not going to stop. https://www.housingwire.com/articles/opendoor-and-redfin-expand-homebuying-partnership-to-nine-new-cities/

Topic: Flip Factor, with Michael Green Your Questions: Send emails to [email protected]

• Alison, “I own a few pizza franchises, so I know a few things about business and property leasing. I’m looking at buying some turn-key rentals vs. dropping some money into an apartment deal. A friend of mine is raising the money. The money looks better on the apartment deal, way better,  but this would be my friend’s first apartment project. I’m not necessarily trusting his numbers to be realistic. Can you offer some guidance as to what to look for?
• • Rent rolls and leases
  • P&L from last year - all expenses. 
  • Repair estimates. 
  • Think “actual income” not “potential income”
    

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message! 

Motivational Thoughts for the day “Don’t wait to buy real estate. Buy real estate and wait.” -Will Rogers

What if you could make $10,000 more on every flip, simply by paying less for capital? What if you could access large lines of credit with NO personal guarantees and not attached to your personal credit? How many more deals could you do? What would it add to your bottom line? How different would your life be 5 years from now if you could do two more profitable deals each year between now and then? These are the types of questions you should be asking when you begin to think about business credit. Now I'm not talking about the type of business lines of credit where you pay what amounts to 40% interest and you have to make daily payments starting the next day after you receive the money. I learned this business model the hard way about 8-9 years ago. I had a few conversations with some money guys in New York. Turns out they had clever ways to avoid having their interest rate labeled usurious, but they were work arounds. And they were a rip-off. Since that time I have been on the robo-call list as a sucker who needs money. I get 5-10 of these call every day. Still to this day.

But that is NOT what we are going to be talking about. We are talking about legitimate lines of credit for your business, obtained because of and on behalf of your business. These loans are solid and real. And I'm going to tell you right now that since I favor good quality debt backed by real estate, this program qualifies. Stephen Wible is coming up in a few minutes to explain it, which I will let him do.

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437) ext 1. Leave your message or your question.

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don't mind.

Sponsors

American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFunding

Real Estate Investing QuickStart

Announcements:

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It's a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal ppossibilities.
• "Real Estate Investing Quick Start" Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

News:

• Kathy Fettke called it on this show. Crystal lagoons could be a "wave" of the future. https://www.cnbc.com/video/2020/02/12/crystal-lagoons-is-disrupting-beach-front-real-estate.html
• Can investors also become HomeSnap pro users? https://www.housingwire.com/articles/homesnap-new-platform-guesses-when-people-will-move/
• People are on the move - away from expensive coastal cities. https://www.redfin.com/blog/q4-2019-housing-migration-report/

Topic: Business Credit, with Stephen Wible

• Creditsuite.com

[email protected]

• Home Depot Lowes, visas, master card, etc.
• Car loans.
• Email address is a potential red flag.
• Need a real business line.
• Google voice doesn't work for this, Its not listable.
• There are 125 items in the fundability database.
• Wheel of fundability. Most of it is automated.
• LexisNexis

Your Questions: Send emails to [email protected]

• Cherry, Atlanta "What do you see for the market in 2020?"
• Stephen, Atlanta, "What are your top criteria for entering the market in a distant city?"

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day "You can't have a million dollar dream with a minimum wage work ethic." -anonymous

What if you could make $10,000 more on every flip, simply by paying less for capital? What if you could access large lines of credit with NO personal guarantees and not attached to your personal credit? How many more deals could you do? What would it add to your bottom line? How different would your life be 5 years from now if you could do two more profitable deals each year between now and then? These are the types of questions you should be asking when you begin to think about business credit. Now I’m not talking about the type of business lines of credit where you pay what amounts to 40% interest and you have to make daily payments starting the next day after you receive the money. I learned this business model the hard way about 8-9 years ago. I had a few conversations with some money guys in New York. Turns out they had clever ways to avoid having their interest rate labeled usurious, but they were work arounds. And they were a rip-off. Since that time I have been on the robo-call list as a sucker who needs money. I get 5-10 of these call every day. Still to this day. 

But that is NOT what we are going to be talking about. We are talking about legitimate lines of credit for your business, obtained because of and on behalf of your business. These loans are solid and real. And I’m going to tell you right now that since I favor good quality debt backed by real estate, this program qualifies. Stephen Wible is coming up in a few minutes to explain it, which I will let him do.

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437)    ext 1. Leave your message or your question. 

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind. 

Sponsors

American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFunding

Real Estate Investing QuickStart

Announcements:

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.  
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal ppossibilities. 
• “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

News: 

• Kathy Fettke called it on this show. Crystal lagoons could be a “wave” of the future.  https://www.cnbc.com/video/2020/02/12/crystal-lagoons-is-disrupting-beach-front-real-estate.html
• Can investors also become HomeSnap pro users? https://www.housingwire.com/articles/homesnap-new-platform-guesses-when-people-will-move/
• People are on the move - away from expensive coastal cities.  https://www.redfin.com/blog/q4-2019-housing-migration-report/

Topic: Business Credit, with Stephen Wible

• Creditsuite.com

[email protected]

• Home Depot Lowes, visas, master card, etc. 
• Car loans. 
• Email address is a potential red flag. 
• Need a real business line. 
• Google voice doesn’t work for this, Its not listable. 
• There are 125 items in the fundability database. 
• Wheel of fundability. Most of it is automated. 
• LexisNexis 

Your Questions: Send emails to [email protected]

• Cherry, Atlanta “What do you see for the market in 2020?”
• Stephen, Atlanta, “What are your top criteria for entering the market in a distant city?”
  
  

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message! 

Motivational Thoughts for the day “You can’t have a million dollar dream with a minimum wage work ethic.” -anonymous

Kathy Fettke is back with us today discussing Real Estate Syndication. She will talk about what it is and a little bit about how to set it up. Very specifically what NOT to do. Then we are going to talk about a few of her current projects. If you are looking to invest passively in real estate projects, you want to stay tuned, because Kathy has a long history of success. She is credible, effective, and best of all, she will make you some money. Before we get to that we have a very important announcement for you. As of Wednesday January 9, 2020, the Flipping America Real Estate Investors Association has officially begun. The website is live at flippingamericareia.com. I don't know what your experience with a REIA is, but we hope you'll give this one a try. You can join from anywhere in the country for as little as $10/month and you'll have access to the presentations we do every Wednesday and Thursday in our meetings. You'll have the option of joining us live and the presentations will be stored on the site for all members to access. We've researched this and as far as we can discover we are the first and only national REIA with a LOCAL focus. Groups are gathering around the country on Wednesdays and Thursdays and joining the meetings we are holding in Atlanta via a private video call.

Multiple levels of membership

Vendor opportunities

Leadership opportunity.

(FAREIA presentation)

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don't mind.

Sponsors

American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFunding

Announcements:

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area.
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It's a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal ppossibilities.

News:

• https://www.forbes.com/sites/heathersenison/2020/01/07/five-questions-your-real-estate-agent-legally-cannot-answer/#104d90c41755

Topic: Real estate syndication Your Questions: Send emails to [email protected]

• Alison, Pittsburgh, PA, "I'm having such a hard time finding a deal. It seems like every wholesaler is just charging whatever they want and getting it. What would you suggest?"

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day

• "Being realistic is the most commonly traveled road to mediocrity." Will Smith

Kathy Fettke is back with us today discussing Real Estate Syndication. She will talk about what it is and a little bit about how to set it up. Very specifically what NOT to do. Then we are going to talk about a few of her current projects. If you are looking to invest passively in real estate projects, you want to stay tuned, because Kathy has a long history of success. She is credible, effective, and best of all, she will make you some money.  Before we get to that we have a very important announcement for you. As of Wednesday January 9, 2020, the Flipping America Real Estate Investors Association has officially begun. The website is live at flippingamericareia.com. I don’t know what your experience with a REIA is, but we hope you’ll give this one a try. You can join from anywhere in the country for as little as $10/month and you’ll have access to the presentations we do every Wednesday and Thursday in our meetings. You’ll have the option of joining us live and the presentations will be stored on the site for all members to access. We’ve researched this and as far as we can discover we are the first and only national REIA with a LOCAL focus. Groups are gathering around the country on Wednesdays and Thursdays and joining the meetings we are holding in Atlanta via a private video call. 

Multiple levels of membership

Vendor opportunities

Leadership opportunity. 

(FAREIA presentation)

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question. 

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind. 

Sponsors

American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFunding

Announcements:

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area.  
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal ppossibilities. 

News:

• https://www.forbes.com/sites/heathersenison/2020/01/07/five-questions-your-real-estate-agent-legally-cannot-answer/#104d90c41755

Topic: Real estate syndication Your Questions: Send emails to [email protected]

• Alison, Pittsburgh, PA, “I’m having such a hard time finding a deal. It seems like every wholesaler is just charging whatever they want and getting it. What would you suggest?”

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message! 

Motivational Thoughts for the day

 

• “Being realistic is the most commonly traveled road to mediocrity.” Will Smith

 

Attention America, there is a NEW way to buy a house without a mortgage. It's called FLEQ. We are working on getting someone from the company on the show, but I'm going to explain this unique approach to home ownership as best I can in a few minutes. Plus we have some real estate news for you today! FICO has changed the rules for credit scoring and don't you just love that? And we have grouped several of your questions today that ask about other investment targets such as stocks.

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don't mind.

Sponsors

American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFunding

Announcements:

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It's a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal ppossibilities.
• "Real Estate Investing Quick Start" Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

News:

• The new FICO rules shouldn't affect most mortgage applications in 2020. Car loans and credit cards. https://www.housingwire.com/articles/ficos-scoring-tweaks-wont-impact-most-mortgages/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=82413990&_hsenc=p2ANqtz--W0CZXyKhJi4V0kyY-zbHZ_zcX3veyEf3A0dJwwUwrLZlMmXU7JMyXG183MCP-0nfVYqhls5eZIKaLPOFQRoa9q_CjnzWRi1uAdiiCWv_dSRXpcCE&_hsmi=82413990
• FICO is broken https://www.cnbc.com/2019/02/27/american-consumer-credit-rating-system-is-broken.html
• Diversity Required for Goldman Sachs IPO backing. https://www.housingwire.com/articles/goldman-sachs-no-go-for-ipos-if-all-bros/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=82376728&_hsenc=p2ANqtz--xz68zlKWLLS7WB0Di8v-PEI6b3GsGXPd_m2CAYsIu9N56HKt_yG6t4ttHoOfMEJoKhJUI50Trtyl7YJF6NjkHQhfcposRkAT5r7PPCCzCz55yu_0&_hsmi=82376728
• Top Four Characteristics of Rental Houses https://www.rentometer.com/articles/characteristics-of-the-best-rental-properties-for-beginners?utm_medium=email&utm_source=mailchimp&utm_campaign=non-sub-unconfirmed-email&utm_term=012420&utm_content=icymi&utm_source=RoM+Production&utm_campaign=d93223e608-EMAIL_CAMPAIGN_2020_01_23_08_19&utm_medium=email&utm_term=0_bf925df239-d93223e608-104525881
• Make sure you speak with your tax advisor about these tax breaks for landlords. https://www.rentometer.com/articles/8-tax-deductible-expenses-landlords-need-to-track?utm_medium=email&utm_source=mailchimp&utm_campaign=non-sub-unconfirmed-email&utm_term=012420&utm_content=icymi&utm_source=RoM+Production&utm_campaign=d93223e608-EMAIL_CAMPAIGN_2020_01_23_08_19&utm_medium=email&utm_term=0_bf925df239-d93223e608-104525881
• Home seller profit hits a new high in 2019. https://www.attomdata.com/news/market-trends/home-sales-prices/attom-data-solutions-year-end-2019-u-s-home-sales-report/?utm_source=newsletter&utm_medium=email&utm_campaign=SEO-News+Updates
• Foreclosures at a 15 year low. https://www.attomdata.com/news/market-trends/foreclosures/attom-data-solutions-2019-year-end-u-s-foreclosure-market-report/?utm_source=newsletter&utm_medium=email&utm_campaign=SEO-News+Updates
• Here comes a new home purchase business model: FLEQ. https://www.housingwire.com/articles/startup-plans-to-allow-consumers-to-purchase-homes-without-a-mortgage/ and https://www.housingwire.com/articles/heres-how-to-use-fleq-to-buy-a-home-without-a-mortgage/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=82197463&_hsenc=p2ANqtz-8947O3xHP1jmNVXaOgQEVeRislSnuyyDPATD2rUenALO_GQDikEc0Zba6IjXfWb9MKCamU3zRGmFvhIc9TmA2yJfQWQqq7WbFxjfUEiIgw7bENeg8&_hsmi=82197463
• Renovation Mistakes https://www.nerdwallet.com/blog/mortgages/renovations-decrease-home-value/
• Fed to cut rates in 2020? https://www.housingwire.com/articles/ubs-fed-may-cut-rate-three-times-in-2020/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=81986960&_hsenc=p2ANqtz-_D9riLIllfv13TYG8O4jR9S6BlGM_E0J_onW2KFXSoX_N20Q0yUzz-6yZdvEOHSHm1zFOihhkHH1nfAHUA-fbZl6UCKPUB71SnwRB9lMQfNVbtr6Y&_hsmi=81986960

Topic: Contractors

Resources: https://www.nascla.org/page/LicensingInfo

Your Questions: Send emails to [email protected]

• Debbie, Las Vegas, NV, "The stock market gained 29% last year. Why would I invest in real estate?"
• Carolyn, Rupert, Idaho, "What do you mean when you say 'balanced investment portfolio'?"
• Jacob, Madison, WI, "How do your political views affect your investing decisions?"
• Connie, Greenville, SC, "Are the tariffs hurting real estate investors? If so, how?"
• William, Brooklyn, NY, "I get real estate and stock market shows. Why does no one do a show on commodities investing?"
• Arthur, Indianapolis, IN, "Would you explain the difference between CAP rate and cash on cash return?"

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day

"The sooner you learn that life is not fair, the better off you'll be, because you'll spend less time railing against life's unfairness and feeling aggrieved and entitled, and more time figuring out how to maximize your assets, and your talents and how to deal with things that you're not very good at. - Condoleeza Rice

Attention America, there is a NEW way to buy a house without a mortgage. It’s called FLEQ. We are working on getting someone from the company on the show, but I’m going to explain this unique approach to home ownership as best I can in a few minutes. Plus we have some real estate news for you today! FICO has changed the rules for credit scoring and don’t you just love that? And we have grouped several of your questions today that ask about other investment targets such as stocks. 

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question. 

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind. 

Sponsors

American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFunding

Announcements:

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.  
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal ppossibilities. 
• “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

News: 

• The new FICO rules shouldn’t affect most mortgage applications in 2020. Car loans and credit cards. https://www.housingwire.com/articles/ficos-scoring-tweaks-wont-impact-most-mortgages/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=82413990&_hsenc=p2ANqtz--W0CZXyKhJi4V0kyY-zbHZ_zcX3veyEf3A0dJwwUwrLZlMmXU7JMyXG183MCP-0nfVYqhls5eZIKaLPOFQRoa9q_CjnzWRi1uAdiiCWv_dSRXpcCE&_hsmi=82413990
• FICO is broken https://www.cnbc.com/2019/02/27/american-consumer-credit-rating-system-is-broken.html
• Diversity Required for Goldman Sachs IPO backing. https://www.housingwire.com/articles/goldman-sachs-no-go-for-ipos-if-all-bros/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=82376728&_hsenc=p2ANqtz--xz68zlKWLLS7WB0Di8v-PEI6b3GsGXPd_m2CAYsIu9N56HKt_yG6t4ttHoOfMEJoKhJUI50Trtyl7YJF6NjkHQhfcposRkAT5r7PPCCzCz55yu_0&_hsmi=82376728
• Top Four Characteristics of Rental Houses https://www.rentometer.com/articles/characteristics-of-the-best-rental-properties-for-beginners?utm_medium=email&utm_source=mailchimp&utm_campaign=non-sub-unconfirmed-email&utm_term=012420&utm_content=icymi&utm_source=RoM+Production&utm_campaign=d93223e608-EMAIL_CAMPAIGN_2020_01_23_08_19&utm_medium=email&utm_term=0_bf925df239-d93223e608-104525881
• Make sure you speak with your tax advisor about these tax breaks for landlords. https://www.rentometer.com/articles/8-tax-deductible-expenses-landlords-need-to-track?utm_medium=email&utm_source=mailchimp&utm_campaign=non-sub-unconfirmed-email&utm_term=012420&utm_content=icymi&utm_source=RoM+Production&utm_campaign=d93223e608-EMAIL_CAMPAIGN_2020_01_23_08_19&utm_medium=email&utm_term=0_bf925df239-d93223e608-104525881
• Home seller profit hits a new high in 2019. https://www.attomdata.com/news/market-trends/home-sales-prices/attom-data-solutions-year-end-2019-u-s-home-sales-report/?utm_source=newsletter&utm_medium=email&utm_campaign=SEO-News+Updates
• Foreclosures at a 15 year low. https://www.attomdata.com/news/market-trends/foreclosures/attom-data-solutions-2019-year-end-u-s-foreclosure-market-report/?utm_source=newsletter&utm_medium=email&utm_campaign=SEO-News+Updates
• Here comes a new home purchase business model: FLEQ. https://www.housingwire.com/articles/startup-plans-to-allow-consumers-to-purchase-homes-without-a-mortgage/ and https://www.housingwire.com/articles/heres-how-to-use-fleq-to-buy-a-home-without-a-mortgage/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=82197463&_hsenc=p2ANqtz-8947O3xHP1jmNVXaOgQEVeRislSnuyyDPATD2rUenALO_GQDikEc0Zba6IjXfWb9MKCamU3zRGmFvhIc9TmA2yJfQWQqq7WbFxjfUEiIgw7bENeg8&_hsmi=82197463
• Renovation Mistakes https://www.nerdwallet.com/blog/mortgages/renovations-decrease-home-value/
• Fed to cut rates in 2020? https://www.housingwire.com/articles/ubs-fed-may-cut-rate-three-times-in-2020/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=81986960&_hsenc=p2ANqtz-_D9riLIllfv13TYG8O4jR9S6BlGM_E0J_onW2KFXSoX_N20Q0yUzz-6yZdvEOHSHm1zFOihhkHH1nfAHUA-fbZl6UCKPUB71SnwRB9lMQfNVbtr6Y&_hsmi=81986960

Topic: Contractors 

Resources: https://www.nascla.org/page/LicensingInfo

Your Questions: Send emails to [email protected]

• Debbie, Las Vegas, NV, “The stock market gained 29% last year. Why would I invest in real estate?”
• Carolyn, Rupert, Idaho, “What do you mean when you say ‘balanced investment portfolio’?” 
• Jacob, Madison, WI, “How do your political views affect your investing decisions?”
• Connie, Greenville, SC, “Are the tariffs hurting real estate investors? If so, how?”
• William, Brooklyn, NY, “I get real estate and stock market shows. Why does no one do a show on commodities investing?” 
• Arthur, Indianapolis, IN, “Would you explain the difference between CAP rate and cash on cash return?”
  

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message! 

Motivational Thoughts for the day

 

“The sooner you learn that life is not fair, the better off you'll be, because you'll spend less time railing against life's unfairness and feeling aggrieved and entitled, and more time figuring out how to maximize your assets, and your talents and how to deal with things that you're not very good at. - Condoleeza Rice

 

More and more real estate investors are showing up every day and it's getting more difficult to find good deals. The newbies are paying too much and it looks like the opportunity has played out. Where can we go to find new opportunities and use what we have learned?

What a show we have for you today! Thank you to all of you who are piling on the questions about real estate. Last show we answered some questions about contractors. We didn't get to them all and to be frank I don't think I gave enough time to answering Marilyn's question so we are going to address that one first. If you're missing out on the REIA meetings, you're just missing out. A new topic every week, but most importantly the questions. This is what makes the Flipping America REIAs one of the best things you can do. Small groups meeting together, asking their questions, looking for answers, and getting them. It's people interacting, building friendships, business partnerships, and making things happen. Memberships start as low as $10/month. Flippingamericareia.com.

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don't mind.

Sponsors

American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFunding

Announcements:

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It's a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal ppossibilities.
• "Real Estate Investing Quick Start" Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

Topic: Contractors

Resources: https://www.nascla.org/page/LicensingInfo

Your Questions: Send emails to [email protected]

• Marilyn, Chattanooga, TN "I tell my contractor what I want, he says it won't work and suggests something else, which I think will be ugly. We are talking about removing a wall. I want the beam up in the rafters and he says it's too much trouble and expense. I don't want the beam hanging down creating a visual divider. We had a big argument about it. When I came back to the site a couple of days later he was doing it the way he wanted. I lost my cool and yelled at him. He picked up his tools, loaded up his guys and left. Now I can't get him back and he won't answer his phone."
• Peter, Baton Rouge, LA "Do you have a contract I could borrow? I need a template or something."
• Juan, Pontiac, MI.. "How do you handle change orders?"
• Amero, Toledo, OH "We installed a new air conditioner unit outside. The next day it was stolen. The police don't seem interested in trying to track this down - I guess they have more urgent things. They did tell me that the person who stole it knew how to disconnect it. What can I do to avoid this in the future?"
• Catherine, Kokomo, IN, "Can't I just be my own general contractor and hire subs myself?"
• Adrian, Columbia, SC "What do you see as the up-and-coming innovations for real estate investing in 2020?"
• Candace, Orlando, FL "Our town is being overrun by newbie investors. They are paying too much and wholesalers are happy to charge them too much. I still need and want to flip houses, but I need some ideas. It's getting really tough to find anything worth doing here."
• William, Long Beach, CA "I want rental income, but I want it from a source that makes sense. Buying here in southern California doesn't make sense if you want cash flow. What do you suggest?"
• Danny, Pontiac, MI "I have owned shares in a couple of REITs for a few years. They are doing ok, but I wonder if there are other opportunities to invest I don't know about.
• Sherman, Louisville, KY, "What do you think is the biggest opportunity in real estate in 2020?
• Vincent, Philadelphia, PA, "I just went to my first REIA meeting and WOW. I was stunned by everything people are doing. There are so many ways people are making money I'm truly astonished. My problem is, I don't know what I need to focus on."

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day

"The Road to Success is always under construction." Arnold Palmer

More and more real estate investors are showing up every day and it's getting more difficult to find good deals. The newbies are paying too much and it looks like the opportunity has played out. Where can we go to find new opportunities and use what we have learned?

What a show we have for you today! Thank you to all of you who are piling on the questions about real estate. Last show we answered some questions about contractors. We didn’t get to them all and to be frank I don’t think I gave enough time to answering Marilyn’s question so we are going to address that one first. If you’re missing out on the REIA meetings, you’re just missing out. A new topic every week, but most importantly the questions. This is what makes the Flipping America REIAs one of the best things you can do. Small groups meeting together, asking their questions, looking for answers, and getting them. It’s people interacting, building friendships, business partnerships, and making things happen. Memberships start as low as $10/month. Flippingamericareia.com. 

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question. 

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind. 

Sponsors

American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFunding

Announcements:

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.  
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal ppossibilities. 
• “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

Topic: Contractors 

Resources: https://www.nascla.org/page/LicensingInfo

Your Questions: Send emails to [email protected]

• Marilyn, Chattanooga, TN “I tell my contractor what I want, he says it won’t work and suggests something else, which I think will be ugly. We are talking about removing a wall. I want the beam up in the rafters and he says it’s too much trouble and expense. I don’t want the beam hanging down creating a visual divider. We had a big argument about it. When I came back to the site a couple of days later he was doing it the way he wanted. I lost my cool and yelled at him. He picked up his tools, loaded up his guys and left. Now I can’t get him back and he won’t answer his phone.”
• Peter, Baton Rouge, LA “Do you have a contract I could borrow? I need a template or something.”
• Juan, Pontiac, MI.. “How do you handle change orders?”
• Amero, Toledo, OH “We installed a new air conditioner unit outside. The next day it was stolen. The police don’t seem interested in trying to track this down - I guess they have more urgent things. They did tell me that the person who stole it knew how to disconnect it. What can I do to avoid this in the future?”
• Catherine, Kokomo, IN, “Can’t I just be my own general contractor and hire subs myself?”
• Adrian, Columbia, SC “What do you see as the up-and-coming innovations for real estate investing in 2020?”
• Candace, Orlando, FL “Our town is being overrun by newbie investors. They are paying too much and wholesalers are happy to charge them too much. I still need and want to flip houses, but I need some ideas. It’s getting really tough to find anything worth doing here.” 
• William, Long Beach, CA “I want rental income, but I want it from a source that makes sense. Buying here in southern California doesn’t make sense if you want cash flow. What do you suggest?”
• Danny, Pontiac, MI “I have owned shares in a couple of REITs for a few years. They are doing ok, but I wonder if there are other opportunities to invest I don’t know about.
• Sherman, Louisville, KY, “What do you think is the biggest opportunity in real estate in 2020?
• Vincent, Philadelphia, PA, “I just went to my first REIA meeting and WOW. I was stunned by everything people are doing. There are so many ways people are making money I’m truly astonished. My problem is, I don’t know what I need to focus on.”
  

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message! 

Motivational Thoughts for the day

 

“The Road to Success is always under construction.” Arnold Palmer

 

Today we are going to deal with one of the most often asked about topics that come to the show. Finding contractors. Or more specifically, finding GOOD contractors. A good contractor can make your business and a bad one can break it. Ask me how I know this. In a few minutes I will tell you what type of contractors you might need, how to find them, how to vet them, and how to manage them. All of this in response to questions from you!

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don't mind.

Sponsors

American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFunding

Announcements:

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It's a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal ppossibilities.
• "Real Estate Investing Quick Start" Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

News: Are we heading toward recession?

• From Goldman Sachs, Financial conditions continue to ease, which should be a tailwind for economic growth.
• From HPS Insight, Consumer sentiment remains elevated
• Growth in revolving consumer credit is falling behind the increase in wages. According to TS Lombard, this indicator typically spikes heading into a recession or periods of perceived economic stress. TS Lombard
• John Burns Real Estate Consulting, Single Family construction permits continue to rise, now in the 9th year. (expansions typically last 2-5 years)

Topic: Contractors

Resources: https://www.nascla.org/page/LicensingInfo

Your Questions: Send emails to [email protected]

• Arlene, Austin, TX, "I need help finding a good contractor. The guy I've been using has been ok, but he's retiring."
• Sammy, Brookfield, WI, "Do I need to line up a contractor before I find a deal? If so, how do I do that?
• Kenneth, Lancaster, PA, "I was told to get three bids before beginning the work. I can't even get someone to come out and give me one bid. How do you get three?"
• Michelle, Tampa, FL "I don't have any problem finding contractors, but I need help knowing if they are any good. Can you offer some thoughts?"
• Wes, Jacksonville, FL, "What questions should I be sure to ask when I'm interviewing a contractor?"
• Beatrice, New Port Richey, FL, "What are the two or three most important things you look for when hiring a contractor?"
• Marcus, Boulder, CO, "How can I know whether the contractors are charging me a reasonable price?"
• Elliott, Pittsburgh, PA, "I was checking on a guy - seems like a real nice guy. But in the state records, I see he has had a couple of other companies that seem like they are in the same business. It's almost like he shut down a company and then started another one just like the one before. Why would he do that and should this make me cautious?"
• Marilyn, Chattanooga, TN "I tell my contractor what I want, he says it won't work and suggests something else, which I think will be ugly. We are talking about removing a wall. I want the beam up in the rafters and he says it's too much trouble and expense. I don't want the beam hanging down creating a visual divider. We had a big argument about it. When I came back to the site a couple of days later he was doing it the way he wanted. I lost my cool and yelled at him. He picked up his tools, loaded up his guys and left. Now I can't get him back and he won't answer his phone."
• Peter, Baton Rouge, LA "Do you have a contract I could borrow? I need a template or something."
• Juan, Pontiac, MI.. "How do you handle change orders?"
• Amero, Toledo, OH "We installed a new air conditioner unit outside. The next day it was stolen. The police don't seem interested in trying to track this down - I guess they have more urgent things. They did tell me that the person who stole it knew how to disconnect it. What can I do to avoid this in the future?"
• Catherine, Kokomo, IN, "Can't I just be my own general contractor and hire subs myself?"

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day

"There are TWO Rules for Success. 1. Never tell everything you know." -Roger H. Lincoln