Fri, 30 January 2015
In today's Cash Flow Friday tip we're going to talk about keeping an eye on the conditional of your rental properties on a regular basis and how to do it without looking like you're micro managing your tenants by creating a monthly or bi-monthly HVAC filter replacement program.
Our company implements a Bi-monthly plan which kills two birds with one stone and you can do the same.
1. It ensures that our equipment is maintained as our past experience has shown that most tenants never replace filters, even if they are given a year's supply at the beginning of the lease agreement.
2. You can identify any other potential maintenance issues while in the home and also get a good look at the overall condition of the residence and see if the tenants are breaking any of the polices of the rental agreement (undocumented pets, more residents than stated, drugs or other illegal activity, etc.) If they are, you can take action to remedy the situation by creating a formal warning to them to fix the situation by a certain date or run the risk of being evicted due to breach of contract.
Deferred maintenance and unruly tenants can wreak havoc on you and your property and by implementing a maintenance program like the one discussed you can hopefully get in front of any bad situations before they start.
Thanks for listening in to the Cash Flow Friday Tip and until we meet again next week, Get out there and make some cash flow happen.
Mon, 26 January 2015
Our guest for this week’s show is commercial real estate broker and investor, Eric Odum. Eric and I actually met as he was an avid listener of our show and is also a fellow Tampa Resident. I thought it was very fitting to have Eric on the show as I received numerous emails from you guys asking about the relationship between the broker and investor and how to foster and grow them so that they help grow your RE investing business.
Eric is the founder and principal of ROI Commercial Property Brokerage which is a full service firm that specializes in investment property brokerage and sales in the greater Tampa Bay market.
In this interview with Eric you’re going to learn:
§ The process of establishing a relationship with a credible broker within your niche
§ Why learning to speak the lingo is a critical first step
§ The importance of knowing exactly what you're looking for and articulating that to the broker
§ The secret test which brokers will give you and what they expect
§ How to make it on their "off-market" VIP database
§ The multiple benefits that a good RE broker can bring to your business
§ Why you need to have all your ducks in a row before trying to foster this relationship
§ And much more…
If you love what we’re doing, please do us a favor and show us some love by going to ITunes and leaving us a 5 star rating and a review. Itunes
Fri, 23 January 2015
In this week's Cash Flow Friday Tip we discuss the topic of choosing your target geographical area for where you'll be investing and why it's so important to have a clear focus on this.
In this show, you will learn:
§ How to select the ideal size market to start with
§ Why focus is the key to being successful
§ How to collect and store the leads you'll get during this process and why they should be treated like gold
§ How our company selects our geographical target areas and why
§ and much more
Fri, 16 January 2015
In this inaugural episode of the Friday Cash Flow Tip we discuss the topic of rental collection and I share with you 3 of my proven strategies to make sure you're putting the most money into your pockets each and every month.
In this show, you will learn:
§ How to choose your tenants wisely
§ Why eviction checks sometimes fail
§ Why you should never believe your applicants previous landlord
§ How to enforce a rent payment policy
§ Why paying your tenants to leave is sometimes the best solution
§ How to help your tenant find the money to pay the rent that's due
§ How to use subtle scare tactics to get your tenants to pay up
§ and much more
Mon, 12 January 2015
This week's show I'm going to cover an awesome story I ran across over the past week which I thought had a ton of relevance to our normal topic of real estate investing and also will provide a compilation of 20 successful habits from two very popular billionaires which I'm sure you'll recognize - Oprah Winfrey and Enver Yucel
Basically, a guy named Paul Brunson worked directly for both Oprah and Enver collectively for 6 years and these 20 success habits are derived from his intimate observations with both billionaires. Enver and Oprah are two extraordinary people and I'm sure you'll find this topic as inspirational and inspiring as I did.
Here's a link to the article: http://www.huffingtonpost.com/paul-carrick-brunson/20-habits-for-success_b_4739731.html
Tue, 6 January 2015
Our guest of honor for this week's show is senior housing expert, Gene Guarino. Gene is a certified financial planner in the US and Australia as well as a full time real estate investor with over 30 years of experience just about every area of real estate including both residential and commercial.Today
Gene is focused exclusively on residential assisted living homes. He's going to show us how this unique combination of residential and commercial along with the timing of the baby boomer generation is an unstoppable waive of opportunity which you can capitalize on - TODAY
And here are some interesting facts about the baby boomer market: According to the US Census bureau, 77 million people will be turning 65 over the next 19 years. This means that EVERY DAY 10,000 people turn 65 years of age. 4,000 people a day will be turning 85. That is a huge, unstoppable opportunity where a lot of wealth and cash flow will be created.
In this is interview with Gene, you will learn:
§ Why he’s so excited about the opportunity that exists with serving the aging baby boomer generation
§ The market fundamentals he looks for when seeking out a new property
§ Why he focuses on smaller residential senior housing properties vs the larger institutional type
§ How he’s finding private money to fund his projects
§ The marketing process he uses to find residents to fill his homes
§ How he delegates the management and care responsibilities to professionals
§ The types of properties which make for great conversions into assisted living homes
§ and much more