As a real estate investor, you want to find properties where your investment dollar will go the furthest. To help you do that, we compiled a list of the top 10 cheapest states to buy a house in America in 2021. We analyzed data from several sources to find the least expensive states and the most affordable cities in each of them.

In this episode, Tom, Michael, and Emil run through the top ten states. They highlight important metrics and discuss what this means for investors. 

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Transcript

Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.

 

Emil:

Hey everyone, welcome back for another episode of the remote real estate investor. My name is Emil Shour and today I'm joined by Tom Schneider and Michael Albaum. In today's episode, we're going to be covering the top 10 cheapest states to buy a house in 2021. So this is from an article off the roofstock blog that I wrote a while ago called the top 25 cheapest ways to buy a house in 2021. We're going to run through some of the numbers like median home value, one year price change five year price change and median rent to give you guys an idea of which markets may be good to target or at least do a deeper dive into So let's hop into this episode

 

Emil:

Alright guys, so this is actually a blog post I helped create on the Roofstock blog, and it's covers the top 25 cheapest states to buy a house. We're going to cover the top 10 And just to give everyone some context, the data here is from Zillow for home values and historic price trends. And that is as of June 2021 So that data is a couple months old but still you know relatively easy for people to kind of compare the top 10 We also have the median rent data is coming from go banking rates and the median rent of a three bedroom place and I'm gonna just run through the top 10 But before I do Tom you look like you have something a burning question…

 

Tom:

I do my mouth is like like half open alright a meal in writing this article states a pretty big area you know a big Is there a reason why it wasn't at like a metro just because like it I think of cheapest I mean you know California is a great example you know you can live in a very expensive area or you can live in a very less expensive area.

 

Emil:

Yes

 

Tom:

Curious. Go ahead.

 

Emil:

Great point Tom. i We don't have an article around the best the cheapest cities I think just because there are so many unique city so look at that it would be very hard to compile the data. So we have cheapest states. I think it's just easier to get 52 data points rather than I don't know 1000s

 

Tom:

Fair fair fair. I think there's I think there's I think there's a middle ground in there as well you know between from from city or whatever to state I dig I'm I'm picking you out a little bit I like I like this let's get into it. Let's get into it.

 

Emil:

Tom just ruined the episode and we’ll end it here. So thanks, Tom.

 

Michael:

Timeout you said you said 52 So are we talking territories as well like Guam and Puerto Rico?

 

Emil:

I Have not attended a geography class in quite a long time Michael so I don't even know if I'm correct in saying 52 Or if it's 50.

 

Michael:

50 states.

 

Emil:

50 states you know what? I'm just I'm done with this episode. guys. You guys take it from here

 

Michael:

Emil’s like enough of this so I don't get fired like enough of this. Just trying to help you out.

 

Emil:

I'm doing you guys a favor. How about that? Alright, so let's let's get into this. I'm curious if you guys can get some states in the top 10 If you had to guess. Pick three each you guys…

Nick Haraden and his wife started investing in real estate in early 2020. They quickly acquired multiple homes and hopped directly into a on a 24-unit apartment syndication, all while continuing to add to their single-family portfolio. 

In this episode, Nick tells us about his journey, from starting out to where he is now. 

Learn more about Nick's company on his website: www.hudsonhallproperties.com  

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Transcript

 

Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.

 

Michael:

What's up everyone? Welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by an actual old high school buddy of mine, Nick Haraden. And Nick got his start investing in single family homes with Roofstock and is now grown to do some pretty incredible things that he's going to share with all of us today. So without further ado, let's jump into it.

 

Nick Haraden, man, thank you so much for taking the time and hanging out with me today. I really appreciate it.

 

Nick:

Yeah, absolutely. I'm really happy to be here. I'm really excited.

 

Michael:

I'm, dude me too. And for anyone that doesn't know, and I'm sure most people don't know, Nick and I are actually old buddies from high school. That went our own separate ways for about a decade and now are reconvening talking about real estate.

 

Nick:

Yeah, it's pretty crazy. You know, it's quite a story. So happy to jump into it soon here.

 

Michael:

Yeah, yeah. So So tell everyone cuz I know a little bit more about your background. I think most of our listeners do. So give everybody listening a little bit of idea of what it is that you're doing in real estate now, but also how you got your start?

 

Nick:

Yeah. Well, I'll start kind of from not from the very beginning, but from, you know, a couple years ago,

 

Michael:

I graduated Agora High School.

 

Nick:

Yeah, well, Michael and I, we go back to high school, like Michael said, and super random, we got reconnected through Roofstock, which, you know, we saw we started, you know, our real estate journey about, you know, just right at the start of the pandemic, so two years ago almost and…

 

Michael:

Perfect time to get into real estate.

 

Nick:

Yeah, really. Yeah, it really was, we've grown, you know, so much, which is, you know, just, I'll get to that later. But, you know, my, my wife and I, Molly, you know, we have two kids, Hudson and Dakota, and we work and, you know, we, you know, my wife's a nurse, and you know, I work for Northrop Grumman, and I do contracts for them. And, you know, we didn't want to work our whole lives, right?

 

We wanted more time with our family, and, you know, everybody that we kind of knew growing up, and, you know, even my family, and everybody's always been in real estate, and, you know, never really clicked in my head, I was just like, Oh, I'm just gonna keep getting promoted, you know, just gonna keep on working harder and working more. And it's like, yeah, well, you know, I don't want to work more I want more time with with my family and travel and go to, you know, plays and sporting events with with my kids. And you know, so it kind of kind of started with that.

 

And we randomly Molly found Roofstock, through like a friend at work. And she's in there, like, Hey, have you ever looked at Roofstock? And we were like, No, we don't even know what that is, you know, like, well, you know, we bought a property on there. It's really great. They have like, a ton of listings, and you can look at different areas. And she's like, Hey, Nick, you know, we should look into t

Rachel Richards is an author and real estate investor that came from humble beginnings and 'retired' at the age of 27. Rachael demistyfies the overwhelming, intimidating and complex world of personal finances to making simple, fun and accessible.  

In this episode, Rachel shares her story of how she got started as a financial advisor, lauched into real estate, scaled up to 40 doors and built a diversivied portfolio.

Rachel's Site: https://www.moneyhoneyrachel.com/

Rachel's free passive income starter kit: https://www.moneyhoneyrachel.com/bonus

Rachel's Book: https://amzn.to/3kFzKej 

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Transcript

 

Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor Podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.

 

Rachel:

What's up everybody, Michael Albaum here with the remote real estate investor. Today with me I have an amazing guest, Rachel Richards, she is a best selling author, finance guru, real estate investor, former financial advisor, professional speaker just did amazing all around person. And she's gonna talk to us today about all of those topics and more. So let's just jump right into it.

 

Rachel Richards, thank you so much for taking the time to hang out with me today. I really appreciate you coming on.

 

Rachel:

Yeah, thank you for having me. I'm excited.

 

Michael:

Oh, me too. So I mean, for those of our listeners who don't know you, I know you as a best selling author, finance guru, real estate investor, former financial advisor, professional speaker. I mean, is there anything that you haven't done?

 

Rachel:

Well, I appreciate that you make me sound really good. So I don't know.

 

Michael:

You have seemingly accomplished so much in the financial and real estate space. I would love if you could give our listeners a little bit of background on who you are, what you've done, and then what you're currently doing in real estate.

 

Rachel:

Yeah, for sure. I started as a finance nerd at a pretty young age. I still am a nerd to this day and proud of it. But I grew up in a household where money was always a stressor. And so at a pretty young age, I was motivated to turn things around for myself and become financially independent, and went to college, I became a financial adviser. I'm kind of giving you the high level story. But I read Rich Dad Poor Dad in high school. And that was the first thing that yeah, that turned me on to real estate investing. So I always knew that was going to be my path.

 

I didn't know about all these other passive income streams yet. And my eyes opened on passive income a little bit later. But I knew real estate investing was one of the key pathways for myself. So I did start investing in real estate with my husband in 2017. I also self published my first book money, honey that year. And we had these two passive income streams, rental income and royalty income. And we focused on growing those as much as we possibly could over the next few years. So fast forward to 2019. So within the span of two years, we had accumulated almost 40 rental doors, six buildings, almost 40 doors, and we've grown our passive income streams, yeah, to over $10,000 per month. So by then I was able to quit my job. We were financially independent. And that is where we are today.

 

Michael:

Oh, my gosh, well, there is a lot to unpack there. That's incredible. So taking a few steps back, do you think that you became a financial advisor because of that angst you were feeling at home. And that's never something you never want to worry about money. So you said if I can get as educated as I can about it, it'll be easier for me.

 

Rachel:

I think there were a few

Avery Carl is a seasoned real estate investor and a co-founder of The Short Term Shop. Avery specializes in connecting investors with short term rentals with the highest ROI potential and then training them to manage their short term rental from their smart phone from anywhere in the world.

In this episode, Avery tells us about short-term rental strategy, hot markets, returns, and what you should know about short-term rentals in contrast to long-term rentals.    

https://theshorttermshop.com/ 

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Transcript

Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.

 

Michael:

What's up everyone? Welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by Avery Carl, distinguished author, speaker, investor, agent, mortgage broker, she does it all and she's going to be talking to us today about things you need to be aware of when looking for short term rentals. So let's get right into it.

 

Avery Carl, thank you so much for taking the time to hang out with me today. I really appreciate you coming on.

 

Avery:

Thank you so much for having me.

 

Michael:

No my pleasure. So I think a lot of our listeners probably already know who you are. You've got quite a bit of notoriety behind you. But for anyone who's not familiar, can you give us a 32nd elevator speech on who you are, where you're come from and what it is you're doing real estate?

 

Avery:

Yes, yes. So my name is Avery Carl, I am the author of Short Term Rental Long Term Wealth of about investing in short term rental properties. I'm a real estate investor, I own 100 doors, but eight of them are short term rentals. And I was able to scale from zero to 100 doors over the course of about five years with a starting salary of $37,000 a year. Because I invested mostly in short terms at the beginning of my portfolio. So since those cash flows so much heavier than long term, I was able to scale much more quickly than if I'd started with traditional long terms.

 

I also own the Short Term Shop, which is a real estate agency that focuses exclusively on working with short term rental investors where not only do we act as the real estate agents to help them purchase their property. We also teach them everything they need to know about managing their property remotely. We help them get it all set up on the the listing sites and teach them the ropes of remote self management. We've helped about 4500 families, build some generational wealth through real estate investing there. And then I also, own co own The Mortgage Shop, which is basically the mortgage counterpart of the short term shop, we focus mostly on short term rental investors there as well.

 

Michael:

Oh, that's awesome. So you were doing short term rentals before it was cool. It sounds like

 

Avery:

Yeah, oh, just slightly before.

Michael:

That's awesome. And so what is it, you think that people need to know if they're just getting started in the short term rental business?

 

Avery:

So I think the main thing to know is that it's you don't have to live in the city or even drivable to the city where you're investing, you can't always live in the best place to invest. So getting comfortable with long distance real estate investing, can make sure that you are able to make the most lucrative investment in short term rentals.

 

Michael:

That makes total sense. And what a place to have you on The Remote Real Estate Investor. It's perfect. So how do you evaluate what a short term rental market looks like? Because doing the long term thing, I think is relatively easy. I can go o

Daniel Wold is the acting president of the Americal Land Title Association (ALTA). Founded in 1907, ALTA's mission is to improve the skills and knowledge of providers in the real property transaction, effectively advocate member concerns, and standardize products for industry use.

 

In this episode, Daniel explains how title insurance works; how it is different than other insurance types; shares about how ALTA combats fraudsters: and informs you about what to look out for to keep your largest assets secure. 

www.alta.org  

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Transcript

Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.

Michael:

Hey, everyone, welcome to another episode of the remote real estate investor. I'm Michael Albaum. And today I'm joined by Dan Wold, president of the American Land Title Association. And he's going to be talking to us today about title insurance. What is it? When do we need it, as well as wire fraud and how to combat it and all of our real estate transactions? So let's get into it.

 

Hey, Dan, thank you so much for coming on the show and hanging out with me today. I really appreciate it.

 

Dan:

Well, it's my pleasure. And hopefully we can touch on some really important topics today.

 

Michael:

Yes, yes, I'm very much looking forward to it. And right before we started recording here, you and I were chatting about kind of what it is that the American Land Title Association does, and you are the president of, but so I'd love if you could share a little bit with our listeners.

 

Dan:

Well, our governance structure has a board of governors, and this year, I am the well, actually just just incoming president for the upcoming year. And that kind of a real quick primer on title insurance, you know, we basically are involved with land title transfers, and and then ensuring the lien priorities of the of the lenders as well. So we issue owner's title insurance policies, to the consumer that purchases the property. And we like to kind of just boil it down to we protect property interests.

 

And we also provide peace of mind because we're the ones that sweat the details in relation to all the stuff that goes on in relation to a settlement or closing. And so that the consumer, you know, they run around doing all kinds of things at the last minute, we're there to help them and give them peace of mind.

 

Michael:

It's It's funny, how many things get pushed until the very last minute and most closing, isn't it?

 

Dan:

Yeah, and things pop up. And, you know, we've got so many Lanta professionals around the country that, you know, do this for a living have seen pretty much everything that you can throw at them that they are very capable at, you know, navigating the challenges that could come up in any given closing transaction?

 

Michael:

Well, that's good to know that I'm not I don't have to be the first guinea pig with any of my closings coming up. So that's exciting.

 

I'm curious, Dan, if you could just elaborate a little bit more on what title insurance is, because I've got to admit, as part of, you know, the head coach and Program Manager with Roofstock Academy. This is a question that I get asked a lot of times by students in the program, so give us a kind of a high level breakdown of just what is it? And why should somebody may be thinking about getting it because it is optional, oftentimes with an all cash deal?

 

Dan:

Well, it is it's a one time charge that occurs, you know, as part of the closing transaction. And essentially what we do, which is interesting and unique about our industry versus other insurance industries,

Should you buy a portfolio of homes instead of one at a time? What are the benefits of this? What are the downsides? Why would anyone want to do this and how do you go about doing it?

In this episode Tom, with his experience with portfolio acquisitions, leads this weekend wisdom episode to get to the bottom of these questions. 

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Transcript

Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.

 

Tom:

Greetings, and welcome to The Remote Real Estate Investor. On this episode, I'm joined by

 

Emil:

Emil Shour

 

Michael:

and Michael Abaum.

 

Tom:

And on today's episode, we're gonna be talking about portfolio acquisitions as well as portfolio management now, you know, obviously, with a portfolio, it's a little bit more money to get into the game and to buy multiple properties at once. But there are a ton of advantage. So within this episode, we're going to talk a little bit about reasons why some tips and different phases and acquisitions and management, and a little bit in between. Alright, let's get going.

 

All right, excellent weekend wisdom today. So we're going to be talking about portfolios. And for the conversation, I think I'm going to be really leading a bunch of it and Michael and Emil are going to be peppering some stuff in, but I'm going to talk about my experience in going through a portfolio acquisitions.

 

I'm going to start by talking about the benefits, and then we're going to go into the specific process some different ways to go about it. So Michael and Emil, I'm gonna I'll start but you guys can feel free to pepper in. So I'll start on the acquisition side, there's some benefit in buying portfolios in that you can deploy more money at once,

 

Emil:

What is a portfolio for people who don't know what a portfolio is

 

Tom:

Excellent hosting Emil. So a portfolio would be considered buying multiple properties at once from the same seller. So Roofstock has some cool features around buying portfolios, just a quick plug for the marketplace. But you know, these what we're going to…

 

Michael:

And selling!

 

Tom:

That's right, and selling so you know, but this, this episode is going to be agnostic to where you do your buying and selling as all of our advice is. But we're gonna be talking about Yeah, specific portfolio related stuff. So any other clarifying questions there for me Emil?

 

Emil:

No, that was it. Continue, I'm sorry to interrupt.

 

Tom:

Okay, so we're gonna start with benefits. So one of them as I was getting going, is the ability to deploy more money at once. Oftentimes, when I'm in acquisition mode, I have a target amount of dollar that I'm trying to spend. And it's much easier to get to a bigger dollar amount in buying multiple homes, right? Pretty, pretty straightforward. But there is for sure, some real benefit to that. The other benefit is, this is somewhat intuitive, it's kind of like going to Costco where you're, you can get a little bit of a discount, I'd say versus just buying individual properties. Oftentimes, when I'm submitting my offer on a property on a portfolio, I'll just sort of put a blanket dollar amount for both of them. And when I'm underwriting them, you know, I'll put in the specific individual numbers. But at a, generally speaking, in making that portfolio acquisition, you're usually to get able to get a little bit more of a discount to the marketplace.

 

The benefits on the operation side is typically portfolios are in the same market. So I love being able to scale a little bit quicker. In a market, perhaps this could lead to some discounts from the local prope

Diania Merriam is the founder of the EconoMe Conference, a financial independence conference, and the host of the Optimal Finance Daily podcast. At the age of 28, Diania climbed out of $30K of debt in 11 months to begin her journey to financial independence. 

In this episode, Diania shares about what it took to reach debt freedom and how she is powering her path to retiring early. This episode is loaded with actionable insights for you to get your finances in order and start building real wealth.

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Transcript

 

Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.

 

Michael:

Hey, everyone, welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum. And today with me, I have Diania Merriam, who's going to be talking to us today about the economy conference that she is the founder of as well as some financial independence tips that she has learned along her life's journey. So without further ado, let's get into it.

 

Diana, thank you so much for taking the time to come talk personal finance with me today. I really appreciate it.

 

Thanks for having me.

 

Michael:

No, my pleasure. So you are the founder of a really cool conference called economy.

 

Diania:

Yeah.

 

Michael:

Tell us a little bit about what that is. Because I know it's coming up here in like 30 days, right?

 

Diania:

Yes, we are exactly a month away at the time of this recording. But essentially, economy, the easiest way to describe it is it's like the TED talks of the fire movement. And you guys can't see me. But I'm doing air quotes over here, because we're not associated with TED talks, which is like the easiest way to explain what it is. So we have amazing mainstage speakers that talk about financial independence from a lot of different angles, whether it be really tactical information, or just more inspiring stories. And then we also do a number of breakout sessions to kind of connect you with like minded people. Because as you know, money is such a taboo topic, right? And we don't often get the opportunity to surround ourselves with people that are comfortable talking about this stuff.

 

So one of the things I like to say about pursuing financial independence is like what's the point of being FI and retiring early if you have no one to hang out with? Right, here's your opportunity to meet your people to meet your tribe.

 

Michael:

Your playmates yeah.

 

Diania:

Exactly. So we've got all these breakout sessions, we do an after party, we do a lot of social activities on the last day of the event. So it's really just an amazing weekend, someone last year describes it as a party about money, which is exactly the vibe I was going for.

 

It's really, the point of it is inspiration and community around a topic that is so you know, influential for us all?

 

Michael:

Oh, that's awesome. And is I know, this year, it's out in Cincinnati. Is it always in Cincinnati? Or does the location move every year?

 

Diania:

Yes. So we're actually in our second year, because I had the brilliant idea of launching an event based business in the middle of a pandemic.

 

Actually, our first event was March 7 of 2020. It was one week before everything shut down due to COVID. But I had been planning the event for 20 months. This was like something I could have never anticipated that I would have to navigate. So yeah, we got really lucky on our first event. And this is actually going to be our second and yes, it's at the same venue, which is the University of Cincinnati.

 

Michael:

Awesome, awesome, awesome. So I've got kind of a question for you.

When you have been investing in real estate for years, you've probably seen a lot of weird things. In this episode, longtime real estate investors Heath Silverman, Michael Albaum, and Paul Moore each tell one of their real estate investing nightmare scenarios. Not only are these stories spooky, painful, and entertaining in retrospect, but they offer some lessons for investors on what to look out for in their investing journies.

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Transcript

 

Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.

 

Michael:

Hey everyone, welcome to another episode of The Remote Real Estate Investor . I'm Michael Albaum. And today we have what has now become known as a tradition on the podcast. We are doing our Halloween Horror Story episode. We did this last year was a lot of fun. We're doing it again this year. So I guess now it's definitely a tradition, we have to do it forward every Halloween going forward. So we have a couple spooky horror stories from some other investors we're gonna be sharing with you. So let's get into it.

 

All right, Heath, so tell us your spooky Halloween story.

 

Heath:

Yeah, so as a somebody who's been investing in properties now for around 20 years, I've had my share of horror stories, from people dying and buildings to apparent ghosts that are hunting properties while I'm living in them in the middle of a renovation. But the one I'm going to focus on here was was probably I would say the, the scariest thing that happened to me in my early days of investing. So this is back in, I think it was 2004 when I was remodeling a garage on the first single family rental that I was living in and house hacking at the same time, 17 years ago.

 

When I bought the building, it was a bit rundown, you did a fair amount of work, and is going through, you know, remodel the top floor, found a contractor who was pretty solid, and he had a foreman on the job who I became pretty close with because he was there, you know, all the time, and I was living in the building at the time of the remodel. And once that was done, my very next project that I needed to do was to remodel the detached garage. So it was a detached garage that had some serious water issues, whenever it rained water was like pouring into the walls and there was a fair amount of rot and a significant amount of work needed to be completed.

 

At the time, some of the bids just came in a bit higher than I would have liked. And I didn't have the bandwidth to move the work forward. So I kind of put it on hold. And I don't know it was like six months later, the guy who was the foreman on the earlier job came by and he said hey, I know you wanted to remodel your garage. And hey, I just got my license. And I'm now a GC and I'm starting, you know, kicking off my own business and looks like you haven't done the work. I was driving bios in the neighborhood, I'd love to bid it, I can do a great job. So I said sure. And we you know, we got the work started.

 

And this was one of his early jobs as well. He ended up charging me a fair amount up front, I probably paid like 70% of the work, or 70% of the bid upfront before really getting deep into it. And they ended up demoing, he had a couple other guys who he brought on site, they demo the entire garage, garage, knocked out the roof knocked everything out. And next thing I know, they just stopped showing up.

 

So here I am, you know, in this, in this house that I'm living in, you know, there's just like debris everywhere. We're about to hit the rainy season again. And this whole thing is opened up, there's crap ever

Pam Pybas is the owner of Inspect It Like A Girl, a Certified Master Inspector, and a wealth of knowledge for homeowners and property investors. In this episode, Pam shares what she looks for during inspections, explains her rigorous process, and gives tons of tips and tricks for remote investors to keep their investments in top shape.

Pam's links:

Website: inspectitlikeagirl.com

YouTube: www.youtube.com/c/InspectItLikeAGirlRidgeland

Podcast: www.npr.org/podcasts/486075865/fix-it-101 

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Transcript

Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals. 

 

Michael:

Hey, everyone, welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by Pam Pybas from inspected like a girl. And Pam is going to be talking to us today about all of the things that she looks for during her investor home inspections and some things and tips and tricks that you can do as an owner, both in your own home and your investment properties to help them last even longer. So let's get into it.

 

Pam, thank you so much for taking the time and joining me today. I really appreciate you coming on.

 

Pam:

Yeah, my pleasure. Thanks for the invitation.

 

Michael:

Oh my gosh, I'm thrilled to have you here. You're a home inspector and your business is called Inspect it Like A Girl right?

 

Pam:

That's right. Our tagline is inspected like a girl because we look better.

 

Michael:

I love it. I love it. How long have you been? How long? Have you been inspecting homes?

 

Pam:

I started in May of 2003. I'm in? Yeah, we're in Central Mississippi, Tri County area right around Jackson. Yes, Metro. Well, Mississippi didn't have a lot of Metropolitan. Yeah, we Yeah. Anyway, we're super smaller, tiny, teeny, tiny little state. But yeah, I'm in Central Mississippi. I'm from here. So my dad was a contractor. So that's how I got involved in it.

 

Michael:

I was gonna ask okay, so you kind of grew up around construction and the home business.

 

Pam:

I was cleaning job sites when I was in middle school. I was told my dad told me if I wanted dinner, I had to clean up the sawdust.

 

Michael:

It sounds like he ran a tight ship.

 

Pam:

He did. He did. My mom was a painter. And my brother was a finishing carpenter. So we the whole family was.

 

Michael:

The whole family!

 

Pam:

Mhm.

 

Michael:

Oh, how great. Well, one of the reasons I wanted to bring you on today is just to give folks an idea about what to expect out of a home inspection. And I think a lot of things that come up in inspections really catch people off guard, and people make mountains out of molehills. So I would love if you could talk to us today about what are things that you're looking for when you go inspect a home? And what are maybe some things that sound like big things, but maybe really aren't such a big deal?

 

Pam:

That's a great question. Um, you know, the, unfortunately, what's happened in the inspection industry is that the report sometimes is used to beat people up. And it turns into this big war over what we're going to fix and not fix. So I love that question. And especially from an investor perspective, you know, and I've been working with investors a little over 10 years now. And we actually do an investor inspection, which is, you know, my assumption is that investors know how to put the pretty on the pig. But they they're not real sure what, you know, from a general maintenance perspective, what are you going to be your big deals?

 

So when I'm working with investors, I'm looking at what's going to be your big ticket item. So your roof,

The all-in-one loan is a unique product with some very interesting benefits that provide a higher level of efficiency for the homeowner/borrower in paying off their loans. 

Justin Macagba, Senior Loan Officer, NMLS# 414049 and Dave Herbst of CMG Financial join us today to explain how it works, what its benefits are, and who it is a good fit for. 

Visit CMG here: https://www.cmgfi.com 

Contact Justin here: [email protected] 

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Transcript

 

Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.

 

Michael:

Hey, everyone, welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by Dave and Justin with CMG Financial, and they're going to be talking to us about a really unique loan product that I had never heard of, but in very intrigued by called the all in one loan, so let's get into it.

 

All right, Dave, and Justin with CMG financial, thank you so much for taking the time to hang out with me today. I really appreciate it.

 

Dave:

Thanks for having me.

 

Justin:

No problem. Thank you.

 

Dave:

Yeah. Thank you. Appreciate it.  

 

Michael:

My pleasure. And so you both are here to talk to us today about something called the all in one mortgage. Is that right?

 

Dave:

Yeah, it's officially trademarked name is called the all-in-one loan. It's a unique mortgage product that we offer nationwide.

 

Michael:

Is this a new product hasn't been around for a while?

 

Dave:

Great question. No, it's not not a new product at all. We we launched this to the market in June of 2005. So over 16 years old now. It is however, sort of a newer concept to you know, most Americans. So it's still you know, day to day kind of feels new, as we talk about it, but it's certainly not a new product for us. And it's often.

 

Michael:

Okay. And so that's twice you've mentioned that it's been launched in the US, was this product modeled after a product in a different country?

 

Dave:

Yeah, absolutely. This type of financing in the way it's engineered, is very similar to mortgage products that are mainstream in other countries, other parts of the world. You know, throughout Western Europe, the UK, specifically, these types of mortgages are called offset loans or offset mortgages. They're also a version of this is also available in Canada, New Zealand, Australia, India, you know, most of the world's largest banks offer some version of this product, but we've been so you know, kind of slow to adopt or embrace innovation in the mortgage industry.

 

If you think about it, you know, the standard mortgage, 30 year fixed mortgage, or 15 year fixed mortgage, these are products that were developed during the Great Depression era. And they're still the gold standard today. You know, despite all the change and innovation and all the changes in needs, for the for the average American household, we have yet to really kind of push forth innovation in the mortgage industry. This represents certainly, you know, positive change directionally.

 

Michael:

Interesting. And so I had never heard of this product at all until Justin and I were chatting about it in the Roofstock Academy. So Dave, we would love if you could share with everybody, what is it and kind of how does it work? What are the mechanics of it?

 

Dave:

Sure, yeah. Well, the all in one loan, you know, given its brand name, it's a it's two things that are bundled together to two accounts, two financial instruments that are combined together to provide a higher level of efficiency for the homeowner for the borrower. And I mean, that they are able to save mone