The SFR Show

There are so many benefits that come with investing in real estate investing. in this episode, we do a draft pick of the most valuable and heavy-hitting perks we have access to as investors. Shout us out on Twitter with who you think won, and some important picks we overlooked! @Roofstock 

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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 am joined by

 

Michael:

Michael Albaum

 

Emil:

Emil Shour

 

Mark:

Mark Woodling.

 

Tom:

And today we've got a fun episode. So as an investor, there are a lot of different events and things that happen, you collect rent, you pay your mortgage, and today we're gonna be focusing on all of the good events. And the way that we're going to do this is a fun segment where we're going to draft our favorite moments as a real estate investor. And then after we do our draft, it's going to be a snake order draft, we're going to post it on a Twitter for you guys to vote on. So again, this episode is going to be on great events or moments as a real estate investor. All right, let's do it.

 

Gentlemen, just to reiterate the rules, we all are going to have three picks, it's going to be a snake order. I've got a ping pong ball machine behind me with all of our names to define what the order is. And after we complete this draft, we're going to throw it up on Twitter, and let the people vote. I'm feeling pretty good about my chances here. I put a lot of research into great moments as an investor and good luck to get in second place too you guys.

 

Emil:

Trash talking already? Alright. All right. Let's see if you can back it up.

 

Michael:

You know, trash talking is like the epitome of someone who's not confident in their ability. It's kind of the way I see it, but you know, to each their own.

 

Tom:

Smoke smoke and mirrors let's trash talking right there. What you just did. Alright, so

 

alright. ping pong balls. So the with the the order is with the first pick of the great moments of being an investor is Mark Woodling. That's good. You get the first one but you have to wait all the way to the turn to get your next one. Up. Second is Ooh, Tom Schneider, ooo I like that second. All right, up third. Is Emil Shour. All right, good job and right, bringing up the rear and the turn, Michael Albaum.

 

Michael:

Is this is this because you thought it was talking trash to you? Is that? Why is that what your pinball machine gave me fourth place.

 

Tom:

The ping pong ball. The ball Don't lie. As, was it Ben Wallace that said,

 

Emil:

Can you show us proof of this draft order cuz you're just you're just looking at nothing and magically make taken names out of a hat. So I don't believe you, sir.

 

Tom:

Don't question what's behind the wizard.

 

Michael:

Off screen.

 

Tom:

Alright, so alright, let's let's get into it. So again, we're each gonna pick three rounds of events as a real estate investor that you love that are just like, awesome. And then we're going to shoot it out to the twitterverse to vote on the who, who has the best draft? So Mark, why don't you go ahead and start us off, kick off the draft the draft.

 

Mark:

Cool. So I named mine to add to the fun, and you'll be able to reference that later. But my first one is what I call Hail Yeah. Where I live in the state of Texas and a property that I own here had some hail damage. So I was able to get a new roof for about a 10th of the price, which is gonna run about $30,000 for this home. So you know, I paid the insurance premium and or the deductib

Looking for a new market to invest in? How about St. Louis Missouri? In this episode, Roofstock Certified Agent, Tellee Warren from 314 Property Solutions Group joins us to tell us about the St. Louis real estate market. Tellee gives us the scoop on the competitive environment, the common price to income ratio, the particularities of this market, common risk factors to consider, and his perspective both as an agent there and with his past experience as an appraiser.  

 

Tellee Warren, 314 Property Solutions Group

[email protected] , 314-753-4503

 

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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, everybody, welcome to another episode of the remote real estate investor. I'm Michael album and today I'm joined by my co host, Tom Schneider, and Mark Woodling. And today we are chatting with the Roofstock Certified Agent out in St. Louis, Tellee Warren, and he's gonna be telling us all about the St. Louis market, why it's a hot place for investors, and some things you need to be aware of, if you're gonna head out that way. So let's get into it.

 

Tellee, thank you so much for being with us here today. Really appreciate you taking the time out of your busy schedule to hang out with us for a little bit.

 

Tellee

Absolutely. Thank you so much for having me. I appreciate it.

 

Michael:

No, of course, it's our pleasure. So I want to come out with a big swing and question right off the bat. I'm an investor I invest all over the country. Sell me on St. Louis, why St. Louis, the best market in your opinion?

 

Tellee:

Well, St. Louis, we have I think some of the best price points. The we have very affordable homes with great rents, which you know, make we have fantastic cap rates. We have I mean, we're working right now with with investors from from all over the country and from other countries that are flocking to the St. Louis market to buy rental properties. Because the price point is is so good. And the rents keep up with that to make the cap rates high a great place for investors to hang their hat here. So..

 

Tom:

Love it. What would you say those ranges of what you're talking about price point like where would you say kind of different ranges or buckets of price points that you can get into and the corresponding rents,

 

Tellee

Some of the great areas, I think for investing in St. Louis, the price range, North County area, we've got 100,000 to actually have about 120,000 - 250,000 price range. And that's that's for your average three bed, two bath, you know, probably 11- 1200 square feet. rents are 12 to $1400, on average there. And then you get you get into Western St. Louis County, the there's some areas there that are still great for investing price points are a little bit higher. They're in the 200 to 250 range, I would say rents are also higher, I mean, you got you know, you have rents 18 1800 to 2000. Some as high as 21- 2200. And then you move even further west into St. Louis County, and then you get to the to the higher price points. 400 Plus, probably so…

 

Michael:

Awesome. So you're saying in North County, you can still find 1% properties, properties that meet the 1% rule?

 

Tellee

Once in a while. Yeah, absolutely. We're still seeing plenty of that seven to 10% cap rate, which is, which is the sweet spot? I think anyway, I mean, it's it's where investors are looking to be

 

Michael:

Totally,

 

Tellee:

So yeah, I mean, we still can find the one percenters once in a while.

 

Michael:

For all you haters out there that spew hate, you know, online everyday, there's

Join use in this episode covering the story of a Stessa power-user. Learn about how Jose Santana began his real estate investing career at 19 years old, the strategies he employs, the tools he uses and how he now generates $20K per month.

Jose Santana is a remote real estate investor and an avid Stessa user. If you have questions for him, reach him at [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 Jose Santana, who is an investor out of Florida and New Orleans. And he's gonna be talking to us today about what his investing journey has looked like the projects he's working on today, and also some tips and tricks for you new investors out there. So let's get into it.

 

Well, Jose, thank you so much for being here with us today. Really appreciate you taking the time.

 

Jose:

It's pleasure. Thank you. Yeah. And you were telling me before we started recording that you're originally a Florida guy, but you're currently out in New Orleans.

 

Jose:

Well, I grew up in New Orleans, but I've been in Florida for 30 years.

 

Michael:

Okay,

 

Jose:

So I came back. I still have property here.

 

Michael:

Right on and you were working on a flip that you were telling me before we start recording, right?

 

Jose:

Yeah, we've done several flips here. But this one, this last one is 120 year old house. block and a half from Audubon Park. Really nice park block and a half from the Mississippi River. Just a built out of bargeboards. Just an amazing home.

 

Michael:

Oh, that's awesome. I want to I want to come back and get some of the details on that. But before we do, I want to know that your whole real estate career, what's been your best day since becoming a real estate investor?

 

Jose

I've had several, quite a few. I think the best deal I ever did was my my home that I live in. We went to look at a house they wanted 263,000. We were approved for 183,000. It was five acres in an old farmhouse. And we we told them we didn't want we really care about the back two and a half acres. We just wanted to front. So we offer 110 for the front half with the house. And they countered at 125. We were in!  We are still in that house been there 25 years. Great house. Great deal.

 

Michael:

That's awesome. And so what about like your best day as an investor? Can you think of one since becoming one?

 

Jose:

Sure. Sure. Yeah, no, we've had quite a few. This particular house that we're working on now we purchased, it was somebody else's deal. And they they got transferred, they got another job and got transferred. They sold me the contract for 450. And by the time we're done, we'll be able to sell it just under a million dollars.

 

Michael:

Oh, that's incredible. That's incredible.

 

Jose:

That was a good day when we got that one.

 

Michael:

Yeah I bet.

 

Jose:

We’re just trying to close that one.

 

Michael:

Okay, right on. So now let's kind of take you step back. I'm curious to know about your real estate background. How did you get started, you know, walk us back a little bit.

 

Jose:

Well, I bought my first house when I was 19 years old. But we got here from Cuba. I was five years old. My dad and my mom both had elementary school educations. And my mom's a beautician, my dad was a butcher. So you know, they weren't big into real estate, or anything else. But, you know, once they got here, they started buying properties.

 

So in the first couple of years, my dad bought five ho

Author of Happy Ever After, The 7 Dollar Millionaire, joins us again to shed light on the complex world of personal finances. He shares tips on getting started, saving money, and aligning your goals with your family to work your way to financial peace of mind one step at a time.

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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, and welcome to another episode of the real estate investor. I'm Michael Albaum, and today I'm joined by my co host,

 

Tom:

Tom Schneider.

 

Michael:

And with us we have a very special repeat guests, the 7 Dollar Millionaire, if you recall, he wrote a book that we had him on chatting about Happy Ever After. And today, he's going to be talking to us again about personal finances, some things you can do to get started, as well as how to talk to your spouse or significant other or partner about personal finance. So let's get into it.

 

Michael:

Awesome. Mr.7 Dollar Millionaire, thank you for joining us again, we so looking forward to recording with you.

 

7 Dollar Millionaire:

It's a pleasure. Thanks for having me back on that says, this is a first for me. No one's ever invited me.

 

Michael:

Well, hopefully the first of many. So how have you just curious how are things out in Singapore?

 

7 Dollar Millionaire:

Things are just improved. Yesterday, we had like a mini re lockdown. So they call it circuit breaker here for about a month. Because there was a bit of a spike in cases. But that ended yesterday. The big change is very little apart from Oh, you're now allowed to go to restaurants, their restaurants are all closed. That's pretty much it. Gyms are kind of reopening slowly, that kind of stuff. But yeah, that was that was nice. It's nice to kind of go and get a meal somewhere, you know. But otherwise, it's you know, as with a lot of Asia, they're taking that kind of minimal risk approach to it.

 

So I mean, even when there was a spike, it was like 100 cases a day. 5 million people, right? I mean, it's still a very low number.

 

Michael:

Yeah. But everybody in your world is healthy and safe.

 

7 Dollar Millionaire:

Oh, yeah. Thanks. And you guys are on good.

 

Michael:

Yeah, we just chatted with some family friends of ours yesterday, and they are double vaccinated. But she and her daughter just got his tested positive. So she had a breakthrough case. So she's feeling pretty crummy at the moment. But I'm hoping that she's hoping she's not going to go to the hospital or anything like that. So the breakthrough cases don't seem to be as severe as the unvaccinated stuff.

 

7 Dollar Millionaire:

Fingers crossed. Yeah, fingers crossed. touchwood. Right. That's that's the big hope. As long as it stays like that we can live with it. Right?

 

Tom:

I have a friend who had a breakthrough case who's also vaccinated. And he's got a wife and three little kids and his wife and three little kids didn't, didn't catch it. So he's hanging by himself. And you know, I feel much more for his wife, who's managing a house full of Toddlers and Babies versus him who's just hanging out at their their lake. Well, he's men. He's on the men. He's feeling much better. But it's Yeah, really.

 

7 Dollar Millionaire:

Did she get did she get like a second opinion on that? Right. Yeah.

 

Michael:

Thank goodness.

 

Tom:

Yeah. Doing recovering. Well, good, good.

 

Michael:

Well, Tom, it's it's funny as the wrong word. But interesting. This kind of segues nicely into what we want to chat with the 7 Dollar Millionaire about today. Again, circling back and talking some more about per

In this episode, Devin Redmond from Stessa gives us a peek under the hood of the Stessa asset management software. Deven explains Stessa's functionality, reporting tools, and how to use it with a live demo.

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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

 

Michael:

Michael album.

 

Tom:

And today we're gonna dig into some of the Stessa features and functionality. Devin leads the customer success team at Stessa. So a lots of great things we're going to walk through note this episode, while it's valuable to listen to, and it's gonna be extra valuable if you check out our YouTube channel as well. So worth checking out both. Alright, let's get into it.

 

Devin, let's get a little bit about your background. So you lead the customer success team at stessa. Let's talk about let's roll back, roll back a little bit further. How did you get to stessa? Are you an investor as well? Let's hear about it.

 

Devin:

Yeah, yeah, sounds good. Let's Well, we'll set the stage a little bit. So yeah, I started with Stessa, about three years ago. So I've been there almost since the beginning. And Stessa, from the beginning has been a financial management platform for rental property owners specifically. So at the time, you know, a few years ago, there's Mint, Personal capital, a lot of these platforms coming out that were more sort of stock market oriented or other investments, and there wasn't much for real estate investors to efficiently track their portfolio.

 

And so that was the original idea for Stessa. It's the word assets spelled backwards. And since then, we've, you know, introduced through a steady stream of new features over time, that have come together to be a sort of all in one platform for tracking your your tenants, your income and expenses, you can store real estate documents, and you can run all your financial reports there as well. So that's kind of the quick overview on Stessa. It's great for whether you have one property five properties growing portfolio of 10, plus single family rentals, smaller multifamily. That seems to be kind of the sweet spot where people get the most out of out of the platform.

 

So I run the customer success side, I spend a lot of my time talking with investors, understanding what their challenges are, and figuring out ways that stessa can can help address those. And then I'm also an investor myself, so invested in property, both in California and Hawaii. And I self manage a lot of that so that, you know i'm i'm in investor shoes, seeing what the issues are working with vendors, and building relationships with tenants every day. So that's that's part of what I'm doing what I'm bringing to my job at Stessa.

 

Michael:

Oh, man got to go show a vacant property in Hawaii, poor you.

 

Devin:

Yeah, it's it can be pretty tough. Sometimes I've actually been doing that remotely. So like, I'll get on FaceTime with someone. And they'll go hit the lockbox and get in, we'll sort of tour together. And it's actually worked out really well so far. I don't know if it's just that market, or it's not a cheap property, right. So I've been able to kind of like screen tenants in advance and make sure they're qualified. And then they come for a tour. And I've had really good luck with it so far.

 

Tom:

I remember talking to you about this before, it was interesting learning the rules in Hawaii. Where is it? Right, you have to own it for a certain number of years before doing short term like

Paul Moore, from Wellings Capital, joins us to talk about how to leverage inflation to your benefit, transition from single-family rental properties to multifamily and commercial real estate, force appreciation, and how his company is giving back by helping combat the horrors of human trafficking.

Paul Moore, wellingscapital.com

Find Paul's podcast here: https://www.wellingscapital.com/podcast

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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, everybody, welcome to another episode of the remote real estate investor. I'm Michael Albaum, and today I have with me a very special guest, Paul Moore, you may have heard of him from BiggerPockets, you may know him as the founder managing partner of Wellings Capital, or you might know him better for his fight against human trafficking. And today, Paul is going to be talking to us about some pretty hot topics, specifically with regard to inflation, commercial real estate, and also what Paul and his team are doing to fight human trafficking. So without further ado, let's get into it.

 

Paul Moore, welcome to the show. Thanks so much for spending the time.

 

Paul:

It's great to be here, Michael, thanks for having me on.

 

Michael:

No, of course, of course. So, before we started recording here, I was learning a little bit about your background. But for all of our listeners who might not be familiar with you would love to learn a little bit more about kind of who you are, where you came from, and how you're involved in real estate today.

 

Paul:

Yeah, absolutely. Um, let's see. So in the early mid 80s, I got an engineering degree, which was my first mistake. And then I went on and got an MBA went to Ford Motor companies spent five years there I actually really liked for but I had this desire to be an entrepreneur. So I quit started my own company. I ended up being entrepreneur finalists for Entrepreneur of the Year, Michigan a couple times and we sold that company to a public firm and 97 came to Virginia started flipping houses, then I started flipping waterfront lots then I built some modular and stick built homes. And I learned something you shouldn't build a house if you don't know how to tighten the doorknob on your own house. I don't know just something I just thought I'd tell people that. And, you know,

 

Michael:

Word from the wise.

 

Paul:

Yeah, right. So but that's one of the values of working with a company like roof stock, you know, you you know, if you're flipping houses or building houses yourself, you know, you might have a full time job or something else, you might not know what you're doing. And it's great to be partnering with somebody who does. That's just a side little advertisement for you guys. But anyway,

 

Michael:

I appreciate the shout out!

 

Paul:Yeah. So but over the years, I was wondering how to get involved in commercial real estate, but I didn't know how. And so I actually started a website to generate residential leads for buyer's agents. And actually, we I mean, I had like 40,000 people on our list at one time that have come through our lead gen. And sold those to realtors that I'm still getting, you know, leads all the time. I got that running in the background, but at the same time, I started a multifamily and slash hotel and we build it I should say from in North Dakota. Then we did another one next door. My business partner did a hotel, I jumped back into multifamily syndication. And now I do self storage and mobile home parks as well. We have we're on our fourth fund with my company right now.

 

Michael

The conventional wisdom is that your primary home is one of your greatest assets and a worthy investment. However, many seasoned real estate investors disagree with this and see a primary home as a massive liability. In this episode, we go over the most common reasons many people tell you to buy your primary first and provide some alternate ways of thinking about this question.

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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:

In today's episode we're going to be talking about a debate that's been raging another debate that's been raging on should you buy your primary home? before you buy an investment property, we're actually going to be talking about why we all bought an investment property before we bought our primaries, all three of us we had the same situation. So we're going to be talking specifically as to why we did that. But first, before we get into what we think those those things are, we're gonna we're gonna talk about why you hear people say you should buy your primary first.

 

So I'll kick it off a lot of the time. I'm actually I experienced this when I bought my primary residence. When you live in a home, it's it's a much different feel that you learn so much more about your property, right? You learn about the house, like how house works, the systems when things break, how to potentially fix them yourself, how to find contractors, how many, how much those things cost, how much does it cost to snake a toilet or get a tree trimming all these things, which when I bought my investment property before, I didn't really know those things right? I was kind of just relying on my property manager to call around get a get a quote, I had no idea if it was a fair quote or not. But after living in my primary, I've learned a lot of these things that you don't learn when you're renting, right just how a home works and how to fix all these things.

 

Tom:

I got a quick follow up on that point. Emil, what is harder and what is easier on just kind of the physicality of home ownership?

 

Emil:

What is harder?

 

Tom:

Yeah, just in like upkeep or maintenance or whatnot, what is harder and what is easier?

 

Emil:

Oh, man, I I don't know if it's just where I live. But I have had such a hard time keeping our grass alive. Like I've tried watering it more and more. We have a ton of grass in the backyard. And every summer is really hot in the summer. But like I cannot for the life of me keep this grass alive and like now our entire backyard is dirt and I had no idea like you think you just turn the sprinklers on couple times a week and it stays alive. All these like random things outside to keep your backyard and stuff looking nice. I thought was much easier than it really is.

 

Tom:

I have a mole superhighway in my yard a mole zebra. I think it's a it's a thoroughfare maybe a highway maybe it's a thoroughfare sorry. Good. That's a great answer. That's

 

Emil:

Backyards are tough, man.

 

Michael:

Yeah, you've got to give it electrolytes you got to give it right.

 

Emil:

I've gone into rabbit holes on YouTube and the internet and there's like so many crazy things you can do to keep your your grass alive and healthy. And the truth is I honestly don't care enough to like get that crazy about I'm like whatever it dies. We'll just reseed it and start fresh like every year like i don't i don't care enough to do all that crazy stuff to maintain it.

 

Tom:

Zero scape, just zero scape, right? It's like rocks and you know you're in southern rocks.

 

Emil:

I work for it. I just got a quote to get it all t

In this episode, brothers Ashton and Chris Levarek share how they built their family company, acquiring 42 units in only 15 months. We cover how they got started, how they structure their company, divvy up the work and optimize for rapid portfolio growth to build long-term wealth for their families. Check them out at valkeregroup.com and on their podcast The Art of Winning. 

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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. My name is Tom Schneider. And on today's episode, I'm going to be interviewing Chris and Ashton, love Eric to veterans, and they're going to tell us about how they went from over 40 units in 15 months. They're also going to talk about how they structure their business working together as brothers and how they're building wealth for their family in the long term. All right, let's do it.

 

Christian, Ashton, welcome to the show.

 

Ashton:

Thanks for having us, Tom.

 

Chris:

Glad to be here. Good to be here.

 

Tom:

Awesome. So before we get into it, I'd love to hear a little bit about your guys's backstory. Brothers. Let's Let's hear it.

 

Ashton:

Yeah, we're brothers. Obviously, Chris and I, I don't know, I'm four years older. Joined the military right out of high school. did that for about 18 years? I did. I was a rescue swimmer for the Coast Guard. And then I went into pair rescue for the Air Force. But around 2018 Chris and I have always been pretty close. But yeah, around 2018. Chris came to me with this great idea of creating passive income. And you know, at face value, like Yeah, let's do it. Let's get some passive. You know, cash flow. Sounds great.

 

Tom:

Chris, where'd it Where did Where did you get that? Where'd you get that concept? Are you kind of in the looking up on bigger pockets? Looking at the Who's that Rich Dad Poor Dad stuff? or How did you? How did that first come to you?

 

Chris:

You know, I've been trying to think how the first how I first got involved. But definitely It must have been something bigger pockets a podcast, I can be 45 minutes to work. on my end, we'll go into my story. But somewhere along the road has like sounds great what these guys are doing. And here we are, you know, busting away for a 401k that probably isn't gonna pay what we think it's going to pay at the end of the day.

Ashton:

And I'm kind of one of those guys that like, if it sounds like a good idea, and we do a little due diligence, I don't need to know all the details. Let's go. And so that's kind of what happened. I was like, Yeah, let's do it. I was two years from retiring from the military. And, you know, I'll let Chris tell his story. But it made sense. At that time. I didn't want to get another job. I didn't, I didn't want to create that passive income. I did want that security without having to go get a new employer, you know?

 

Tom:

Definitely. Chris, let's hear. Let's hear a little bit about your background.

 

Chris:

Yeah, sure. So I'm in Phoenix, Arizona, now. been here for about the last, say 10 or 11 years now. My story, I followed my brother in the military. Before that I traveled I was in Europe for about two years in France, really like traveling. So I joined the military thought I get more traveling, they sent me to South Dakota. So…

 

Tom:

That's traveling still counts.

 

Chris:

Yeah. So I got to see the Midwest. That was cool. I did realize, you know, I didn't want to stay in full time. So I left after four years, I was a firefighter in the military decide not to pursue that went into it go

In this episode, Corbin Marcotte from The Investor's Broker, tells us what we should know about investing in the Tulsa OK market. Learn about the particularities of the market, a real estate agent and seasoned investor. We cover return metrics, the different areas and asset classes, who you are competing with, and what makes Tulsa an investor's market.

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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, everybody, welcome to another episode of the remote real estate investor. I'm Michael Albaum and today I'm joined by my co host, Mark Woodling. And we have a very special guest with us today. Corbin Marcotte with the investors broker is going to be talking to us today about all of the things we as investors should be aware of in the Tulsa Oklahoma market. He is one of our Roofstock certified agent partners out in the Tulsa market. And I am very excited to hear what he's going to share with us about the market as a whole and what investors should be keeping their eyes peeled for as we go into a deep dive in the market. So let's get into it.

 

Hey, Corbin, thanks so much for taking the time to come hang out with market I today. Really appreciate it. Yeah, absolutely. So you're out in Tulsa, Oklahoma. Right.

 

Corbin:

Correct.

 

Michael:

And we You and I were chatting a little bit before we started recording here about your background. But for those that weren't able to be part of that conversation, would love to get a little bit about your background, what you do in real estate and kind of what your personal the personal side of real estate for you looks like.

 

Corbin:

Right? Absolutely. So I kind of have a interesting story. I started out actually bought my first house when I was 16 years old, and started buying stocks when I was 15 bought my first house when I was 16. And started kind of way you did a me and my brother, we did a flip and turned it into a rental. And then we did another flip and turned it into a rental in this in a town outside of Tulsa claremore which is a really great market. It's a little university town. And we went from there, we kind of split up me and him decided we didn't want to do that anymore. So at that point, I got licensed.

 

So I was 20 years old when I got licensed and started selling real estate at that point went from Coldwell Banker to Keller Williams. And, you know, I built the sales team through the sales side, all the while I was doing some investing, not super aggressively, but I built the new construction, I did an owner finance deal, a couple things here and there, learned a little bit about wholesaling and things like that. And then I just really focused on the brokerage the sales side, and I grew this team, and I just realized I wasn't having the best time, you know, I was doing traditional sales. It was okay, but I just wasn't in it. And the things I got the most excited about, we're always the investment transactions. I liked analyzing the numbers, I liked seeing value add opportunity, I felt like there was more of a value creation in that area.

 

And so, at that point, I decided, you know, I'm gonna open my own brokerage, I'm going to name it the investors broker, and I'm going to full niche down working with investors here in the Tulsa area and probably expand out over time, you know, we actually have an office in OKC, as well, but primarily here in Tulsa, just selling investment properties. You know, we've sold them all from large to small, you know, little $25,000 houses up to I did a 46 unit apartment complex not long ago.

 

S

Picking a new real estate market is a huge challenge when you are starting out. Learning about the returns, the economic growth, the geographic attributes, risks, and all that must be considered can be overwhelming. In this episode, we share what we find to be the most important things to look at and critical questions to ask yourself when settling on where you will put your money to work. 

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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, everybody, welcome to another episode of The Remote Real Estate Investor. My name is Emil Shour. And as always, I'm joined by

 

Tom:

Tom Schneider,

 

Michael:

and Michael Albaum.

 

Emil:

And today's episode is going to be a little bit unique we're going to be talking about it's actually a follow up episode. So if you scroll way back in the archives, we did an episode called the art and science of choosing a real estate market. That was Episode 21. And today, we're going to be doing a little bit of a follow up talking about some additional things we've learned and thought of, in thinking about choosing a market that we think are super important, especially for new investors, who are still in that phase of selecting a market. So let's dive right into this one.

 

Alright, guys, so all I'll actually kick this one off, I am going to be talking about property taxes, and specifically choosing a market where the property taxes are reassessed based on market value. So I'll bring up an example from my own portfolio. And then another example, I've heard through our good friend Michael Zuber.

 

So I invested in Indianapolis in 2017. And when I invested I did not know this, I learned this the hard way. But Indianapolis actually reassessed his property value every other year, and they base their property tax on that. So every other year, they look at the market value of your home, whether it's gone up or down, and they say, Okay, here's your new market value. And let's just say property tax is 2%. We're charging you 2% on that. So your taxes have gone up or down.

 

And since 2017, it's only gone up, which is great. From a profit standpoint, if I were to go to sell, it was great from a cash out refi perspective, which I've mentioned in the past. But it also, you know, when rents don't rise as quickly as your values do, and your property tax goes up, your cash flows getting potentially crunched more and more each year when that thing gets reassessed.

 

So this is something to be mindful of right? When you're looking at a market call the county assessor talk to investors who are in that market and learn what a win is, obviously, you want to know, what is the property tax rate, but be how often are property values reassessed. So how often is your property tax going to change? If at all, I don't think every state does this, it may even be on a city level. But just something to find out.

 

The other example I was mentioning, so Michael Zuber, I was chatting with him. And he mentioned a friend of his who invested somewhere about a decade ago, and that market has exploded in growth. I'm sure you all can imagine, you know, which markets have have gone crazy over the last 10 years. So his friend is in one bought a decade ago, was cash flowing about a decade ago. But now with this, this is a state where property taxes are super high already. And values have gone up like crazy and rents haven't kept up anywhere close to the pace of value increases.

 

So now, this investors basically has a portfolio where the values have gone up a ton on paper, he's doing really wel