Income Hacker with Ryan G. Wright

Ed Kelso is a member with DoHardMoney. He talks about his journey to becoming a fix and flipper, the challenges that he faced and how it has changed his life for the better.

In this live cast I'm going to talk with you about the time frame on a flip and how many flips you can do in a year. We'll also talk about who you need on your flip team, where you should get started, how to do more flips, and how much you should expect to make!

Today I'll be going over the foreclosure process, how to find homes BEFORE they go into foreclosure, finding homes in foreclosure that have equity. And how to structure deals that make you money.

People often ask me what's the best real estate to invest in? I'm going to talk about the 18 different types of real estate, the strategies and ways that you can invest, how you can invest in a property without having to own it, and the 39 ways you can make money with real estate.

Today’s guest is a great friend of mine, Andy McFarland. He founded 7 Figure Flipping Mastermind back in 2016. With a passion for education and mentoring others to become successful. We talk about real estate, how to get started with wholesaling, wholesaling vs fix & flip, and leaving a legacy.

Lets talk about how to find properties most people are overlooking. For rent by owner method. Easy ways to get sellers to pick up their phones and talk to you.Timing is everything contacting the right person at the right time can completely change the way you find real estate investment deals. And finally this method is perhaps the best way to find properties with NO Marketing expenses!

In this live cast I'm going to explain how you can determine and calculate whether or not you have a good rental property. I'm also going to share with you how to plan and factor for the unexpected expenses and some pro tips to deal with them. Find out what most people are missing and how to know the true cash flow from a rental property.

Remember to watch every week at 6pm EST on Youtube. Don’t forget to subscribe for reminders about future live casts and other essential investment resources.

Today I'm going to show you my tried-and-true method for determining the profitability of a rental property, the 5 ways rental properties make you rich, why cash flow should be the #1 goal. I'm also going to go over which unexpected expenses will ultimately ruin your investment. Thanks for watching, and remember to watch every week at 6pm EST.

Don’t forget to subscribe for reminders about future livecasts and other essential investment resources.

See how we can help with your real estate goals: https://dohardmoney.com/youtube-get-started

Flip faster and smarter with Investor's Edge: http://dohardmoney.com/fff-info-page

Real people, real stories: https://www.youtube.com/watch?v=eCS5wNzu6Q4

Free House Flipping Calculator: https://www.dohardmoney.com/smarter-calculations

0:00 Countdown

0:20:25 Introduction

0:32:20 Real Estate Market Update

0:40:00 Covid 19 Update

0:49:05 Rental Property ROI

1:07:08 Free Rental Calculator

This week during the live cast we talk about how to determine which areas are viable options for long-term rentals, Deal-killing factors that should make you walk away ON THE SPOT, the difference between "cheap" and a "good deal" and how Burger King ruined my first rental!

0:00 Wait Room

11:47 Intro

15:58 Swag

23:21 Housing Forecast

33:20 Covid-19 Update

41:30 How To Evaluate Rental Properties

44:00 Crime

46:20 Busy Streets

49:15 "Burger King House"

57:53 Recap

Jon has a plan. He wants to make a difference in this world. He’s devoted years of his life to help those in need where he lives. Unfortunately, all dreams, even the most selfless ones, need funding to operate. After circling around the real estate industry for years, Jon’s back at it again, with the intent to make some money as well as position himself to make an impact in his community for decades to come.

Of course, no goal is ever complete without its struggles. There’s no doubt that the process of contacting sellers takes its toll on many investors, including Jon. Thankfully, Ryan knows some ways to ease that stress. Additionally, Jon has a mountain of resources right under his nose that he hasn’t taken full advantage of yet, all in Investor’s Edge. In today’s episode, Ryan’s going to show Jon what’s under the hood with Investor’s Edge instead of just the fancy paint job.

The world is in need of more people like Jon who want to give back to the communities they live in and are willing to put in the work to make it happen. Specifically, Jon runs his own non-profit, helping children with fractured backgrounds express themselves through performance art. After hearing his story, you can’t help but want to see Jon succeed. The question is “How is real estate going to get him there?”

This week’s Coach’s Corner is packed with tons of tips on some of the leading real estate investment strategies, specifically the BRRR method and financing options with good and bad credit. Here are some of the other topics you’ll hear about in today’s episode:

• The multitude of ways to contact owners.
• Building a list of contacts.
• The concept of “skin in the game.”
• Why credit matters for BRRR.
• The “1% Rule”

“If your credit is not great...I really recommend you start working on some credit repair. The cost you have to pay to do something like that, you’ll more than save in points and interest when you’re doing deals.”

—Ryan G. Wright

Podcast Summary:

0:00 - Podcast Introduction

1:10 - Learning about Jon and how he got to this point in his life.

6:49 - What drives Jon to get more out of his life. What is his “why?”

10:40 - The obstacles in Jon’s way and how he is going to overcome them.

12:21 - Skip tracing: the underrated tool of the savvy investor.

14:33 - All the things you can do with Investor’s Edge within minutes.

15:27 - Jon’s unfortunate experience with knocking on doors.

16:59 - Ryan’s alternative to speaking to owners directly: voice broadcasting.

17:42 - Building a master list using hyper-targeted Investor’s Edge filters.

20:31 - Putting your own “skin in the game” to minimize lender risk.

22:00 - Combining different forms of financing to land “base hits” instead of looking only for “home runs.”

22:44 - The impact of your credit score and how credit repair can make a huge difference in the long run.

23:58 - Diving into the BRRR strategy and seeing if it’s a smart tactic for Jon’s situation.

29:31 - Jon talks about how today’s coaching has opened his eyes.

31:12 - Which would I rather spend to find properties, my time or my money?

31:46 - Target marketing vs broadcast marketing.

32:48 - Using the “1% Rule” to gauge future returns on a rental property.

33:34 - The ethics of setting and raising rents in blue-collar areas.

36:05 - Big picture strategies and wrapping up with Jon.