One of the primary objectives of my real estate business is to acquire income-producing rental properties that ROCK.
What makes a rental property “rock” you might ask?
It doesn’t necessarily need to pump millions into my bank account each month, and it doesn’t need to be a “no money down” deal either (although either of these things would certainly sweeten the pot).
To put it simply, a great rental property is one that makes every one of my invested dollars work hard. I want every penny to work overtime, producing as much revenue as possible while simultaneously paying off any debt associated with the property. When you buy properties with this goal in mind, there is basically no limit (mathematically speaking) to how far you can grow your net worth and personal income.
When I first got started as an investor, I spent a lot of time trying to find these types of properties. I remember spending hours upon hours scanning my local MLS listings, desperately trying to find a deal that would make financial sense.
After running the numbers on dozens of properties, I was shocked at how difficult it was to find just one single property that would justify my investment.
At the time, it was 2005 and housing prices were through the roof – which made this a very difficult task (especially when I limited myself to ONLY the properties that were “listed”, with a realtor sign in the front yard). Needless to say, it was an extremely discouraging time in my journey. [click to continue…]
Today I’m giving the stage to Gino Barbaro. I met Gino earlier this year when I was featured on the Wheelbarrow Profits podcast with Gino and his business partner Jake Stenziano.
Jake and Gino are specialists at buying apartment buildings and multi-family investment properties. They’ve build a large portfolio of real estate and these guys provide a wealth of information on how their business works.
Gino knows a lot about how to identify and explore new markets. This information is important because not all markets are created equal. Some areas are ripe with opportunity while others have some serious challenges when it comes to finding deals with build-in equity and major cash flow potential.
When you understand how to move outside of your immediate sphere and identify other markets that can provide the growth opportunity you need, you’ll see how powerful this information can be. [click to continue…]
Most of us realize that high quality images can go a LONG way in creating a compelling property listing that sells real estate quickly.
In many cases, the pictures you include in your property listing will be the primary selling point your buyers are concerned with. These are the elements that will catch a buyer’s attention, draw them in and ultimately get them to say “YES” to the dream of property ownership.
If you want to capitalize on the deeply emotional thought process that leads to your next sale, getting great pictures should be your primary concern.
Unfortunately… getting amazing pictures ISN’T always a piece of cake. Hiring a good photographer or getting the pictures yourself almost always requires some element of time, money or hassle – but if you’re looking for the fastest way to get some reasonably helpful and informative pictures right now, there are a few simple ways to make it happen FOR FREE, without leaving your computer. [click to continue…]
When I was getting started as a real estate investor, I didn’t have a lot of money.
Being fresh out of college, my job wasn’t the type that threw off a ton of extra cash each month, but I somehow managed to save up a few thousand dollars before I took the plunge.
In those early days, every penny was precious. If I wanted to make something out of the money I’d saved, I knew it was CRUCIAL for me to earn an actual return on each dollar I spent. If I failed at this task, the money would be gone and I’d be left with nothing… and this kind of scenario was simply unacceptable.
Knowing that this seed capital was the lifeblood of my future financial freedom, it’s not surprising that I struggled quite a bit with every decision that required spending money.
It seemed like every day, someone would tell me about some new product, service, gadget or subscription that I would be STUPID to go without. While each one of these “opportunities” may have been legitimately awesome and helpful in and of themselves, the reality was – I had to be careful with my money. Buying up every little thing that caught my eye simply wasn’t an option, and when every red cent matters (as it did for me), I had to start saying “No” to a lot of good stuff. [click to continue…]
We sourced the web for some of the hottest real estate individuals and organizations who regularly blog and tweet about their experience with selling, buying and/or renting properties.
To be honest, there aren’t many real estate bloggers or thought leaders on the internet worth mentioning or following, but the ones we found are included below for you to keep an eye on.
We wanted these men, women and media outlets to meet 3 main selection criteria:
- They had to be active on Twitter and share practical advice on real estate topics.
- They had to have the guts to tell the truth and talk from personal experience.
- They had to make real estate fascinating and educational.
Enjoy the post and be sure to connect with these folks yourself. Learning from each others is one of the best ways to improve your business, your brand and your future. [click to continue…]