Rockford Real Estate Investing & Real Estate Financial Planning™ Podcast

James Orr

Learn all about investing in real estate in Rockford, Illinois with a combination of real estate financial planning and modeling with numbers specific to Rockford plus syndicated, more generalized recordings of live and pre-recorded real estate investing classes (not all specific to Rockford). read less

What Does Financially Independent Mean?
3d ago
What Does Financially Independent Mean?
What does financially independent mean? Find out in this special, deep-dive podcast episode. James defines financially independent: Passive Income from things like social security, pensions and annuitiesNet positive cash flow from rental propertiesSafe withdrawal rate times other invested assets like stocks and bonds James discusses how you need to have clarity on what financial independence looks like for you... especially as a real estate investor... and then what you need to do to get there. What you NEED to be financially independent is your ultimate destination. That's what your budget looks like when financially independent. What you choose to invest in is the path to financial independence. That's your action plan. James provides you with The Ultimate FIRE Budget so you can plan your budget now, when you're at lean FIRE and when you're at fat FIRE... and specifically what your sources of income are for being financially independent at each of those three stages. James also discusses Warren Buffett's two list strategy as described by James Clear and how that applies to real estate investors seeking financial independence. Bonus conversation about whether you should pay off your primary residence or not and how that has far reaching implications on other financial questions. Watch the video version of this class: https://realestatefinancialplanner.com/what-does-financially-independent-mean/ Resources Mentioned In Class The Ultimate FIRE Budget - Determine what your budget and investments look like now, when you're lean FIRE and when you've achieved fat FIRE with this free video and spreadsheet download. Rockford, Illinois Real Estate Modeling - Click on the link to copy any Scenario for Rockford, Illinois to have James walk you through any calculation including Cash on Cash Return on Investment for any property used in the modeling. Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
How to Calculate Cash on Cash Return on Investment
Jan 20 2023
How to Calculate Cash on Cash Return on Investment
Learn how to calculate Cash on Cash Return on Investment for rental properties in Rockford. James walks you through, step-by-step, how to calculate Cash on Cash Return on Investment for rental properties in Rockford including all the sub-calculations including Gross Potential Income (GPI), Gross Operating Income (GOI), Operating Expenses (OpEx), Net Operating Income (NOI), and Cash Flow. And, where to get every number you'll need to do the calculations yourself. Find out why it is hard to give you an idea of what a typical Cash on Cash Return on Investment calculation might be on properties. Learn how Cash on Cash Return on Investment is similar to Cap Rate and, more importantly, how it is different. Plus, James will show you how to have The World's Greatest Real Estate Deal Analysis Spreadsheet™ (free spreadsheet download) do the Cash on Cash Return on Investment calculation for you. See the Cash on Cash Return on Investment calculation with the newest spreadsheet: James's Visual Cash on Cash Return on Investment Calculator for Rental Property™ and the Improve Cash on Cash Return on Investment Focuser™ to see where to focus your energy to improve Cash on Cash Return on Investment with the least effort. Or, see another new spreadsheet: Rental Portfolio Cash on Cash ROI for tracking Cash on Cash Return on Investment on properties in your portfolio. Watch the video version of this class: https://realestatefinancialplanner.com/cash-on-cash-roi/ Resources Mentioned In Class Return Quadrants™ - Learn about all the different Return Quadrants™ and how we use them to show you how a property is performing. Rockford, Illinois Real Estate Modeling - Click on the link to copy any Scenario for Rockford, Illinois to have James walk you through any calculation including Cash on Cash Return on Investment for any property used in the modeling. Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
Calculating Cap Rate for Rental Properties: A Step-by-Step Guide
Jan 13 2023
Calculating Cap Rate for Rental Properties: A Step-by-Step Guide
Learn how to calculate cap rate on rental properties in Rockford. James walks you through, step-by-step, how to calculate capitalization rate (cap rate) on rental properties in Rockford including all the sub-calculations including Gross Potential Income (GPI), Gross Operating Income (GOI), Operating Expenses (OpEx), and Net Operating Income (NOI). And, where to get every number you'll need to do the calculations yourself. Find out what a typical cap rate might be including some historical cap rates for a variety of investment types. Learn how cap rate is similar to Cash on Cash Return on Investment and, more importantly, how it is different. Plus, James will show you how to have The World's Greatest Real Estate Deal Analysis Spreadsheet™ (free spreadsheet download) do the cap rate calculation for you. See the cap rate calculation with the newest spreadsheet: James's Visual Cap Rate Calculator for Rental Property™ and the Improve Cap Rate Focuser™ to see where to focus your energy to improve cap rate with the least effort. Or, see another new spreadsheet: Rental Portfolio Cap Rates for tracking cap rates on properties in your portfolio. Watch the video version of this class: https://realestatefinancialplanner.com/cap-rate/ Resources Mentioned In Class Return Quadrants™ - Learn about all the different Return Quadrants™ and how we use them to show you how a property is performing. Rockford, Illinois Real Estate Modeling - Click on the link to copy any Scenario for Rockford, Illinois to have James walk you through any calculation including Cap Rate for any property used in the modeling. Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
Why You Still Might Want to Invest in Real Estate in Rockford Despite High Prices, High Interest Rates, and Lagging Rents
Jan 6 2023
Why You Still Might Want to Invest in Real Estate in Rockford Despite High Prices, High Interest Rates, and Lagging Rents
Real estate prices in Rockford are high. Mortgage interest rates are high. Rents are lagging in Rockford. Is real estate a good investment in Rockford right now? In this special webinar James discusses why you might still want to invest in real estate in Rockford despite high prices, high interest rates, and lagging rents. James will discuss why Charlie Munger says that the first $100K is the hardest. Plus, why its not ALWAYS just about cash flow with real estate investments and why you still might want to invest in real estate in Rockford despite our current market conditions. James has modeled just over 300 different US cities for this class for you to choose from, jump right to Rockford: https://RealEstateFinancialPlanner.com/model/IL/Rockford/ Watch the video version of this class: https://realestatefinancialplanner.com/why-you-still-might-want-to-invest-in-real-estate-despite-high-prices-high-interest-rates-and-lagging-rents/ Resources Mentioned In Class First $100K is the Hardest - Learn the surprising math behind why the first $100K is the hardest to acquire and what you should do about it. Return Quadrants™ - Learn about all the different Return Quadrants™ and how we use them to show you how a property is performing. Model - Select Rockford, Illinois and see the Baseline Nomad™ Scenario, 20%/25% down, and buying properties for cash and how it performs in your city. Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
Real Estate Nomad™ in Rockford
Nov 26 2022
Real Estate Nomad™ in Rockford
The Nomad™ real estate investing strategy has you buying properties as an owner-occupant, living in them for at least a year… to fulfil your obligations to the lender for getting a low/nothing down loan with better interest rates… then converting them to a rental and moving into a new property. Repeat this until you have the number of rental properties you desire. But, how does the Nomad™ real estate investing strategy work in Rockford with Rockford housing prices, rents, taxes, insurance and rents with today’s interest rates? How quickly can you achieve financial independence using the strategy? How risky is the strategy? In this class, James will walk you through the basics of the Nomad™ real estate investing strategy including all the assumptions we used for Rockford and you can see exactly how effective… or ineffective… the Nomad™ strategy is in Rockford with Rockford, Illinois numbers. BONUS: Plus, you’ll be able to copy the Scenario into your own Real Estate Financial Planner™ account to modify any of our assumptions that you think we might have got wrong and see how that impacts the plan. James has modeled just over 300 different US cities for this class for you to choose from, jump right to Rockford: https://RealEstateFinancialPlanner.com/model/IL/Rockford/ Watch the video version of this class: https://realestatefinancialplanner.com/real-estate-nomad-in-your-city/ Resources Mentioned In Class Cash Flow Power Meter™ - Learn about the Cash Flow Power Meter™ that appears at the top of assumptions for every property. Return Quadrants™ - Learn about all the different Return Quadrants™ and how we use them to show you how a property is performing. Everything You Learned About Deal Analysis is Wrong – ROIQ+R™ - A full class on the Return Quadrants™ and both the why we use reserves in our return calculations and how to use reserves when doing these cacluations. Model - Select YOUR CITY and see the Baseline Nomad™ Scenario. Real Estate Investor FIRE - Learn about the different types of Financial Independence Retire Early (FIRE) for real estate investors with this full class. Asset Allocation Secrets of Real Estate Investors - Learn about asset allocation for real estate investors in this special class recording. The Ultimate Guide to Private Mortgage Insurance - Learn all about Private Mortgage Insurance (PMI) in this special class recording. Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
10 Things I Wish I Knew Before Starting to Invest in Real Estate
Oct 25 2022
10 Things I Wish I Knew Before Starting to Invest in Real Estate
This is a very personal recording of a class I recorded on March 10, 2021 for our real estate investor group in Northern Colorado. In it I share some very failures and what I wish I knew if I was getting started investing in real estate in Rockford. Here's my list of tips: Not Get Rich Quick"A great business at a fair price is superior to a fair business at a great price." – Charlie MungerReservesReturn Quadrants™Nomad™FocusGrass Isn’t Always GreenerPast does not equal the FutureDeeper Understanding of Income and ExpensesSharpen The Saw Watch the video version of this class: https://realestatefinancialplanner.com/10-things-i-wish-i-knew-before-starting-to-invest-in-real-estate/ Resources Mentioned In this episode James mentions the following resources: First $100K Is The Hardest - Some more detailed information and explanation on why the first $100K is the hardest. Everything You Learned About Deal Analysis is Wrong - An entire class about using the Return Quadrants and reserves when analyzing deals. Return in Dollars Quadrant™ - Learn about the Return in Dollars Quadrant™ and each area of return on investment properties. Return on Investment Quadrant™ - Learn about the Return on Investment Quadrant™ and how much return you get from each area of return on investment properties. Cash Flow Power Meter™ - A tool to visualize how strong cash flow is on a property.The World's Greatest Real Estate Deal Analysis Spreadsheet™ Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
Is Nomad Dead?!
Oct 24 2022
Is Nomad Dead?!
This is a recording of a class I recorded way back in June, 2021 for our real estate investor group in Northern Colorado. So, why am I publishing a class that's over a year old on October 24, 2022? Over the last month, I've had several people suggest to me or ask me if in our current real estate market in Rockford... a real estate market where... Prices are UP... A LOT!Interest rates are UP... A LOT!Demand has cooled off quite a bit.Rents are UP, but not THAT MUCH.Income is UP, but not THAT MUCH.Inflation is definitely HERE and likely to continue until the world... and yes... there is a worldwide inflation issue... not just in the US... gets it under control. ...if in that type of real estate market in Rockford... should they even be considering buying properties? For example, yesterday I got the following email from a client: "So what’s your advice to buyer clients right now? Wait for prices to fall? Buy now but with cash? Use those builder incentive loans? Watch TV with the dog?" My response: watch the "Is Nomad Dead?!" class... that's still my answer. And, so I figured... I might share with you the class that I feel is a really solid start to the answer to the question... should I even be thinking about investing in real estate right now with the market... especially the real estate market in Rockford... in its current state. One more thing before I share with you the class recording... while the answer I gave in the class is appropriate for today's real estate market... there is some additional nuance that I should... and probably will... take some time to add in future content I put out... so be sure to subscribe and be on the lookout for that. This episode was recorded to help real estate investors make better decisions about whether they should buy investment properties or not. Watch the video version of this class: https://realestatefinancialplanner.com/is-nomad-dead/ Resources Mentioned In this episode James mentions the following resources: Evaluating Mortgages and Comparing Lenders - Class on how to evaluate different mortgage options and compare different lenders. Everything You Learned About Deal Analysis is Wrong - An entire class about using the Return Quadrants and reserves when analyzing deals. Return in Dollars Quadrant™ - Learn about the Return in Dollars Quadrant™ and each area of return on investment properties. Return on Investment Quadrant™ - Learn about the Return on Investment Quadrant™ and how much return you get from each area of return on investment properties. Cash Flow Power Meter™ - A tool to visualize how strong cash flow is on a property.The World's Greatest Real Estate Deal Analysis Spreadsheet™ Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
Having Confidence Modeling Retirement with Real Estate Investments
Oct 14 2022
Having Confidence Modeling Retirement with Real Estate Investments
With rising interest rates in Rockford, some real estate investors wonder what's a reasonable mortgage interest rate to use when planning out their next purchases. This episode was recorded to help real estate investors better understand historical mortgage interest rates and what is reasonable to use when modeling future real estate purchases. If you're buying a property in the next 30-90 days... just call your lender and get the current mortgage rates. But, what interest rate should you use if you're thinking about buying 10 properties over the next 10 years? How confident are you using that rate? How confident should you be? James discusses this idea and shares with you a brand-new, super-simple spreadsheet called the Mortgage Interest Rate Confidence Meter™ that uses historic mortgage interest rate data to tell you how confident you should be using whatever interest rate you enter. Watch the video version of this class: https://realestatefinancialplanner.com/having-confidence-with-modeling-retirement-with-real-estate-investments/ Resources Mentioned In this episode James mentions the following resources: 30-Year Fixed Rate Mortgage Average in the United States from The Federal ReserveDownload the Mortgage Interest Rate Confidence Meter™ for Microsoft ExcelThe World's Greatest Real Estate Deal Analysis Spreadsheet™ Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
Impact of Rapidly Rising Interest Rates on Real Estate Investors
Oct 12 2022
Impact of Rapidly Rising Interest Rates on Real Estate Investors
With rising interest rates in Rockford, some investors are wondering if real estate investing is dead. This episode was recorded to help real estate investors better understand how much and how quickly interest rates have changed over the last 35 years. Then, with that knowledge, what the impact might be on real estate investors plus the start of a conversation on some possible solutions. Watch the video version of this class: https://realestatefinancialplanner.com/impact-of-rapidly-rising-interest-rates-on-real-estate-investors/ Topics discussed in this class include: Interest rates have gone up rapidly recently.Is this the fastest we've seen rates rise? The most we've seen rates rise?Federal Funds Rate versus Mortgage Interest RatesInfographic of 35 Years of Interest Rate Hikes from VisualCapitalist.comInterest rates hikes and rate of change of the rate chart30-Year Fixed Rate Mortgage Average in USWhat is the impact of rapidly rising interest rates for real estate investors.What if you ignored financing and bought properties free and clear (with some modeling and comparisons) based on the podcast episode Ep 24: Norm and Norma Buy Free and Clear Rental Properties Isn't this essentially the same discussion we had in Is Nomad™ Dead?! The best way to determine if you should buy with higher interest rates... The World's Greatest Real Estate Deal Analysis Spreadsheet™ Return Quadrants™See the impact for your city and your state with our city-specific modeling.Let me know if my numbers are incorrect by contacting me via email. Real Estate Models for Rockford, Illinois Direct link to the real estate investing models for Rockford, Illinois Resources Mentioned In this episode James mentions the following resources: Visual Capitalist Infographic Real Estate Investing Shocks! class recordingCreative Financing Classes Ep 24: Norm and Norma Buy Free and Clear Rental Properties Podcast Episode Is Nomad™ Dead?! class recordingReturn Quadrants™Real Estate Financial Modeling for Rockford, Illinois Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
Overcoming Hurdles to Real Estate Investing - Part 6 of 6: Inner Game
Sep 23 2022
Overcoming Hurdles to Real Estate Investing - Part 6 of 6: Inner Game
Most real estate investors in Rockford, Illinois face similar challenges, hurdles and obstacles:Where do I get my next down payment from?How do I overcome negative cash flow or improve the cash flow I have?How do I qualify for the best loans?How do I find what I'm missing (deals, dream team, partners, tenants)?How do I commit to achieving my real estate goals, get the courage to act despite fear, gain the capabilities I need or eliminate fears?This class is broken up into 6 parts (published as separate episodes).Topics discussed in this part include:Part 6 of 6: Inner GameMaking a Commitment to Being SuccessfulFinding Courage to Follow Through on Your CommitmentBuilding the Skills and Capabilities to Be Successful as a Real Estate InvestorOvercoming FearThis class was recorded to help real estate investors overcoming the hurdles, challenges and obstacles they face.Watch the video version of this class:https://realestatefinancialplanner.com/overcoming-hurdles-to-real-estate-investing/Additional Classes MentionedThe following are additional classes mentioned in the recordings: How to Improve Cash Flow Workshop - Learn how to reduce expenses and increase income to improve cash flow on your rental properties with this workshop. How to Get Down Payment - Learn more about how to get down payments in this full class on this topic. Financial Mindset and Overcoming Fear - Learn how to get the right financial mindset and overcome fear in this special class on the topic. Real Estate Investor Financing - Learn about how to finance investment properties in this special class updated during COVID-19. Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
Overcoming Hurdles to Real Estate Investing - Part 5 of 6: Finding What You're Missing
Sep 16 2022
Overcoming Hurdles to Real Estate Investing - Part 5 of 6: Finding What You're Missing
Most real estate investors in Rockford, Illinois face similar challenges, hurdles and obstacles:Where do I get my next down payment from?How do I overcome negative cash flow or improve the cash flow I have?How do I qualify for the best loans?How do I find what I'm missing (deals, dream team, partners, tenants)?How do I commit to achieving my real estate goals, get the courage to act despite fear, gain the capabilities I need or eliminate fears?This class is broken up into 6 parts (published as separate episodes).Topics discussed in this part include:Part 5 of 6: Finding What You're MissingFinding DealsBuilding a Dream Team to Support YouFinding PartnersFinding TenantsThis class was recorded to help real estate investors overcoming the hurdles, challenges and obstacles they face.Watch the video version of this class:https://realestatefinancialplanner.com/overcoming-hurdles-to-real-estate-investing/Additional Classes MentionedThe following are additional classes mentioned in the recordings: How to Improve Cash Flow Workshop - Learn how to reduce expenses and increase income to improve cash flow on your rental properties with this workshop. How to Get Down Payment - Learn more about how to get down payments in this full class on this topic. Financial Mindset and Overcoming Fear - Learn how to get the right financial mindset and overcome fear in this special class on the topic. Real Estate Investor Financing - Learn about how to finance investment properties in this special class updated during COVID-19. Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
Overcoming Hurdles to Real Estate Investing - Part 4 of 6: Qualifying for Loans
Sep 9 2022
Overcoming Hurdles to Real Estate Investing - Part 4 of 6: Qualifying for Loans
Most real estate investors in Rockford, Illinois face similar challenges, hurdles and obstacles:Where do I get my next down payment from?How do I overcome negative cash flow or improve the cash flow I have?How do I qualify for the best loans?How do I find what I'm missing (deals, dream team, partners, tenants)?How do I commit to achieving my real estate goals, get the courage to act despite fear, gain the capabilities I need or eliminate fears?This class is broken up into 6 parts (published as separate episodes).Topics discussed in this part include:Part 4 of 6: Qualifying for LoansOvercoming Income Challenges (and Debt-To-Income) to Qualify for LoansOvercoming Credit Challenges to Qualify for LoansOvercoming Loan Spot Limitations for Getting LoansThis class was recorded to help real estate investors overcoming the hurdles, challenges and obstacles they face.Watch the video version of this class:https://realestatefinancialplanner.com/overcoming-hurdles-to-real-estate-investing/Additional Classes MentionedThe following are additional classes mentioned in the recordings: How to Improve Cash Flow Workshop - Learn how to reduce expenses and increase income to improve cash flow on your rental properties with this workshop. How to Get Down Payment - Learn more about how to get down payments in this full class on this topic. Financial Mindset and Overcoming Fear - Learn how to get the right financial mindset and overcome fear in this special class on the topic. Real Estate Investor Financing - Learn about how to finance investment properties in this special class updated during COVID-19. Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
Overcoming Hurdles to Real Estate Investing - Part 3 of 6: Negative Cash Flow
Sep 2 2022
Overcoming Hurdles to Real Estate Investing - Part 3 of 6: Negative Cash Flow
Most real estate investors in Rockford, Illinois face similar challenges, hurdles and obstacles:Where do I get my next down payment from?How do I overcome negative cash flow or improve the cash flow I have?How do I qualify for the best loans?How do I find what I'm missing (deals, dream team, partners, tenants)?How do I commit to achieving my real estate goals, get the courage to act despite fear, gain the capabilities I need or eliminate fears?This class is broken up into 6 parts (published as separate episodes).Topics discussed in this part include:Part 3 of 6: Negative Cash FlowCash Flow = Income - ExpensesReduce expenses and produce more incomeLowest Monthly Payment Guarantee™Maximum Cash Flow Guarantee™Strategies to Reduce Monthly Payments with Your LenderStrategies if You Own Other PropertyStrategies When Searching for HomesStrategies When Making OffersStrategies When You Own/Manage PropertiesStrategies to Maximize IncomeThis class was recorded to help real estate investors overcoming the hurdles, challenges and obstacles they face.Watch the video version of this class:https://realestatefinancialplanner.com/overcoming-hurdles-to-real-estate-investing/Additional Classes MentionedThe following are additional classes mentioned in the recordings: How to Improve Cash Flow Workshop - Learn how to reduce expenses and increase income to improve cash flow on your rental properties with this workshop. How to Get Down Payment - Learn more about how to get down payments in this full class on this topic. Financial Mindset and Overcoming Fear - Learn how to get the right financial mindset and overcome fear in this special class on the topic. Real Estate Investor Financing - Learn about how to finance investment properties in this special class updated during COVID-19. Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
Overcoming Hurdles to Real Estate Investing - Part 2 of 6: Down Payments
Aug 26 2022
Overcoming Hurdles to Real Estate Investing - Part 2 of 6: Down Payments
Most real estate investors in Rockford, Illinois face similar challenges, hurdles and obstacles:Where do I get my next down payment from?How do I overcome negative cash flow or improve the cash flow I have?How do I qualify for the best loans?How do I find what I'm missing (deals, dream team, partners, tenants)?How do I commit to achieving my real estate goals, get the courage to act despite fear, gain the capabilities I need or eliminate fears?This class is broken up into 6 parts (published as separate episodes).Topics discussed in this part include:Part 2 of 6: Down PaymentsStrategies to reduce the need for down payments and strategies to produce down payments, closing costs and reservesHow to reduce the need for down paymentsNo Down Payment LoansCreative FinancingPlus these sources of down payments:"Investment Cards" (aka Credit Cards)Security DepositMaintenance ReservesProperty equity (sell, refi, pledge)Depreciation (and other delayed taxes/refunds)Retirement AccountFamily Members (Legacy Nomad™ or Nomad by Proxy™)Sell stuff you don’t need or wantSavingPartneringRents (including House Hacking)Lease-Option FeesThis class was recorded to help real estate investors overcoming the hurdles, challenges and obstacles they face.Watch the video version of this class:https://realestatefinancialplanner.com/overcoming-hurdles-to-real-estate-investing/Additional Classes MentionedThe following are additional classes mentioned in the recordings: How to Improve Cash Flow Workshop - Learn how to reduce expenses and increase income to improve cash flow on your rental properties with this workshop. How to Get Down Payment - Learn more about how to get down payments in this full class on this topic. Financial Mindset and Overcoming Fear - Learn how to get the right financial mindset and overcome fear in this special class on the topic. Real Estate Investor Financing - Learn about how to finance investment properties in this special class updated during COVID-19. Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet
Overcoming Hurdles to Real Estate Investing - Part 1 of 6: Introduction
Aug 19 2022
Overcoming Hurdles to Real Estate Investing - Part 1 of 6: Introduction
Most real estate investors in Rockford, Illinois face similar challenges, hurdles and obstacles:Where do I get my next down payment from?How do I overcome negative cash flow or improve the cash flow I have?How do I qualify for the best loans?How do I find what I'm missing (deals, dream team, partners, tenants)?How do I commit to achieving my real estate goals, get the courage to act despite fear, gain the capabilities I need or eliminate fears?This class is broken up into 6 parts (published as separate episodes).Topics discussed include:Part 1 of 6: IntroductionWhat's preventing you from achieving your real estate goals? For this class, I break it down into 5 major categoriesComing up with Down Payments (including closing costs and reserves)Overcoming Negative Cash FlowQualifying for LoansFinding What's MissingInner GameMany of these topics have been their own 2-hour classes by themselves (and I'm sure I'll revisit them in the future)Riddle of the farmer, chicken, bag of grain and fox: sometimes the solution to your challenges are not linear or obviousOften times there is more than one solution/challengeWill these solutions work for me?Part 2 of 6: Down PaymentsStrategies to reduce the need for down payments and strategies to produce down payments, closing costs and reservesHow to reduce the need for down paymentsNo Down Payment LoansCreative FinancingPlus these sources of down payments:"Investment Cards" (aka Credit Cards)Security DepositMaintenance ReservesProperty equity (sell, refi, pledge)Depreciation (and other delayed taxes/refunds)Retirement AccountFamily Members (Legacy Nomad™ or Nomad by Proxy™)Sell stuff you don’t need or wantSavingPartneringRents (including House Hacking)Lease-Option FeesPart 3 of 6: Negative Cash FlowCash Flow = Income - ExpensesReduce expenses and produce more incomeLowest Monthly Payment Guarantee™Maximum Cash Flow Guarantee™Strategies to Reduce Monthly Payments with Your LenderStrategies if You Own Other PropertyStrategies When Searching for HomesStrategies When Making OffersStrategies When You Own/Manage PropertiesStrategies to Maximize IncomePart 4 of 6: Qualifying for LoansOvercoming Income Challenges (and Debt-To-Income) to Qualify for LoansOvercoming Credit Challenges to Qualify for LoansOvercoming Loan Spot Limitations for Getting LoansPart 5 of 6: Finding What You're MissingFinding DealsBuilding a Dream Team to Support YouFinding PartnersFinding TenantsPart 6 of 6: Inner GameMaking a Commitment to Being SuccessfulFinding Courage to Follow Through on Your CommitmentBuilding the Skills and Capabilities to Be Successful as a Real Estate InvestorOvercoming FearThis class was recorded to help real estate investors overcoming the hurdles, challenges and obstacles they face.Watch the video version of this class:https://realestatefinancialplanner.com/overcoming-hurdles-to-real-estate-investing/Additional Classes MentionedThe following are additional classes mentioned in the recordings: How to Improve Cash Flow Workshop - Learn how to reduce expenses and increase income to improve cash flow on your rental properties with this workshop. How to Get Down Payment - Learn more about how to get down payments in this full class on this topic. Financial Mindset and Overcoming Fear - Learn how to get the right financial mindset and overcome fear in this special class on the topic. Real Estate Investor Financing - Learn about how to finance investment properties in this special class updated during COVID-19. Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:https://RealEstateFinancialPlanner.com/spreadsheet