Reality TV Real Estate Flipping: How ‘Real’ is It? Hi. My name is Clay and I’m a reality TV addict.Survivor, Shark Tank, The Amazing Race, Big Brother, and the list goes on…At the top of my list though are the reality shows about real estate, in particular, flipping. I am a sucker for them, and if I’m honest, they were a big reason why I decided to get into real estate in the first place. I mean don’t you see the massive amounts of profits real estate investors make in 30 – 60 … [Read more...]
How to Invest in Real Estate When Everything Is Too Expensive
September 23, 2012 By Leave a Comment
How to Invest in Real Estate When Everything Is Too Expensive The most inexpensive property I’ve ever bought was for $16,000.00. It wasn’t in terrible shape, but it did need a good deal of work to get it up to a rent-able standards (about $30,000.00). The most expensive property was over a half-million for an apartment complex which I still own and love dearly.However, in some areas of the country, those prices are simply not realistic. In fact, in some areas you can barely buy the … [Read more...]
Having Trouble Finding Real Estate Deals? Re-visit the Basics!
September 19, 2012 By Leave a Comment
Having Trouble Finding Real Estate Deals? Re-visit the Basics! I’ve been a little frustrated lately when reading online forums by some of the questions and responses being posted. The one that has frustrated me the most has been “Where are all the deals?”.To be very clear, this is a different question than “How do I find houses” or “How do I get started”. Those two questions are asked everyday by new investors trying to figure out the lay of the land and are looking for … [Read more...]
Cash Reserves For The Long Term Real Estate Investor — Things Change
September 18, 2012 By Leave a Comment
Cash Reserves For The Long Term Real Estate Investor — Things Change As happens often in conversations with ongoing clients, I bring up the subject of cash reserves. It usually surfaces naturally when they make known their desire to explore the acquisition of more investment property. Since we all live in the universe of reality, we understand the status quo is but a measurement of the here and now. Assuming your financial status has remained static the last 1-5 years is a mistake we simply … [Read more...]
Conversation With a Weird Guy
September 15, 2012 By Leave a Comment
Conversation With a Weird Guy So, yesterday a guy called the office and told Laura, my amazing Director of Operations and Captain of Team Lassiter, that he was interested in purchasing Bulk REO Secrets. He proceeded to ask her 1,000 questions. Like “When was the course last updated?” Laura told him “Susan completely re-recorded the program and released a brand new version two weeks ago .” To which he replied in all seriousness, “It hasn’t been updated since then?” (lol) He … [Read more...]
Best Real Estate Investing Book Ever Written
September 11, 2012 By Leave a Comment
Perhaps I am a bit bias when I claim that my new book, "How to be a Real Estate Investor," is the best real estate investing book ever written. This is the book I wish I would have read (I wish it would have been written) when I first got started investing in real estate. It provides a complete picture of how to become a successful real estate investor in today's market and covers all aspects of investing, from the more traditional techniques all the way to the most advanced creative strategies. … [Read more...]
Can You Really Flip Houses With No Money?
September 8, 2012 By Leave a Comment
Can You Really Flip Houses With No Money? To many, it seems like there’s no way you can get started flipping houses without at least a little money of your own.True, whether it’s buy and hold real estate investing, flipping houses or any other kind of real estate investing, it is a lot easier to do it with money than without…no doubt.However, flipping houses with no money is not only possible to do, but it’s not as hard as you might think. In fact, there’s no “hidden secret” to … [Read more...]
Why I Allow Pets in My Rental Properties
September 4, 2012 By Leave a Comment
Why I Allow Pets in My Rental Properties I’m a fan of pets. I like animals in general. In fact, I have a cat with me on my desk right now as I write this. Pets can evoke some pretty strong emotions, both for and against.No matter what your feelings are on pets, should you as a landlord allow pets in your properties? I know landlords that would shout a hearty “Hell No!” back at me to that question. I however tend to see advantages to allowing pets, so I do allow then, but with … [Read more...]
What Does a Real Estate Wholesaler Look For In a Buyer?
September 3, 2012 By Leave a Comment
There has been a lot of conversation lately on BiggerPockets about working with wholesalers; the good, the bad and the ugly.I think that we can all agree that there both ethical wholesalers in this business, and those that are less than ethical. This is no different than you would find if you were looking at rehabbers, landlords or any other group of real estate investors.Since I am a full time wholesaler, I wanted to talk a little bit today about what I look for in a buyer which is what I … [Read more...]
Four Pieces of BAD Advice on Managing Rental Property You Should Forget
August 30, 2012 By Leave a Comment
Four Pieces of BAD Advice on Managing Rental Property You Should Forget Every once in a while I come across a blog post or an article or even a video that I think misses the mark so badly that I want to reach through the computer at the person who put it out and ask them “what are you thinking”? Not your usual disagreement or not understanding someone’s point of view, but actually wanting to ask why in the world they give the advice they are giving. I never do mind you. I think … [Read more...]
The Hardest Part of Buy-and-Hold Real Estate Investing: Delayed Gratification
August 28, 2012 By Leave a Comment
The Hardest Part of Buy-and-Hold Real Estate Investing: Delayed Gratification Let me start this post by saying I love “buy-and-hold” real estate investing. I just wish it was easier.Flipping real estate or wholesaling deals is appealing, as cash is quick and you know in a short time frame if you have made a good deal. Unfortunately, buy-and-hold real estate can take a long time to generate a meaningful amount of cash flow.This leads me to today’s topic, as I want to highlight what I … [Read more...]
So You Want to be a Full Time Real Estate Investor?
August 27, 2012 By Leave a Comment
So You Want to be a Full Time Real Estate Investor? Reading Michael Zuber’s post the other day got me thinking back to the days when I was a newbie investor and still had a full time day job. My weekends were pretty full also, as well as many of my nights after work. My wife and I worked very hard, buying and rehabbing properties, dealing with tenants, raising and saving capital. Heck, I even cut all the yards for a while. However, we worked so hard because we had a goal.That goal was … [Read more...]
Getting the Most From a Coaching Relationship
August 19, 2012 By Leave a Comment
Getting the Most From a Coaching Relationship Securing a coach can be one of the best investments you’ll make for your REI business. And although a good coach will guide you through the process, there are some things you should keep in mind too. Try these techniques to get the most from your coaching relationship: 1. Stay Honest Coaches are intuitive people, but they’re not mind readers. Staying completely open and honest with your coach will go a long way towards getting the most out … [Read more...]
Fixing and Flipping Houses: A Business or a Job?
August 16, 2012 By Leave a Comment
Fixing and Flipping Houses: A Business or a Job? Here’s an important question for you – is this fixing and flipping houses thing going to be your business or an odd job? In other words, are you going act like a business owner and hire employees to perform the work associated with rehabbing the house, or are you going to hire yourself to do everything?I believe it should be every fix and flippers goal to work on their business, not in their business. My partner and I don’t demo, paint, … [Read more...]
How to Raise Private Money Anytime, Anywhere. Even Over Chicken Wings!
July 28, 2012 By Leave a Comment
How to Raise Private Money Anytime, Anywhere. Even Over Chicken Wings!This isn’t any sort of ground-breaking new real estate principle, but always be ready to talk about your business and private money! I’ve read other articles on BiggerPockets talking about this same principle, and with a recent experience of mine, you can throw me into the category of “believer”.The point of this article is to offer encouragement that these sort of things “do” happen in the real world, and not just … [Read more...]
Tips for Flippers on Trusting Your Professionals
July 21, 2012 By Leave a Comment
Tips for Flippers on Trusting Your ProfessionalsSo, you hire a tax professional to help you, and when he makes his recommendations, you ignore them. Is this wise?Rich Dad, Poor Dad author, Robert Kiyosaki recommends surrounding yourself with people that are trained, skilled, and better than you in a particular field. This “team effort” is what makes an average investor, businessman, or leader above average. I doubt Mr. Kiyosaki would have achieved the level of success that he now … [Read more...]
What is Driving You to Invest in Real Estate? Understanding your “Big Why”
July 17, 2012 By Leave a Comment
What is Driving You to Invest in Real Estate? Understanding your “Big Why”If you work full time and have decided to become a buy-and-hold real estate investor, you have chosen a path that is long, paved with many obstacles, and full of chances to make mistakes. That said, it is also a tremendous way to establish retirement income, secure financial stability, and eventually live financially free without the need to work for someone else.As a 10+ year veteran of buy-and-hold real estate … [Read more...]
Successful Women Real Estate Investors: 3 on 3 Interview Series
July 13, 2012 By Leave a Comment
Successful Women Real Estate Investors: 3 on 3 Interview SeriesIn the previous two installments of the three on three interview series the focus was on a specific investment strategy or type of business (spec-building & flipping & rehabbing distressed property), but this one will focus on a group of people, successful women in real estate. Real estate investing is often regarded as a male dominated business, but more and more often women are making it to the top of their respective … [Read more...]
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Why I Have to Use Property Managers
Why I Have to Use Property Managers If you work full-time like I do and you chose to be an active real estate investor, you will likely face tough decisions every week. One area in which I see new investors struggle, and where experienced investors have strong opinions is the use of property management.As one of the experienced investors, I know for sure that if I managed my properties myself I could do a better job, save some money, collect more rent, and produce a better return on my … [Read more...]