Aug 19 2022
Overcoming Hurdles to Real Estate Investing - Part 1 of 6: Introduction
Most real estate investors in Philadelphia, Pennsylvania 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