West Palm Beach Real Estate Investing & Real Estate Financial Planning™ Podcast: Recent Episodes
James Orr
Learn all about investing in real estate in West Palm Beach, Florida with a combination of real estate financial planning and modeling with numbers specific to West Palm Beach plus syndicated, more generalized recordings of live and pre-recorded real estate investing classes (not all specific to West Palm Beach).
The Importance of Loan Planning for Real Estate Investors
Real estate investing is a little like the game of Chess. You can play the game with an elementary understanding of the basic rules. But, you soon learn that just knowing how the pieces move about the board are the table stakes for being able to sit at the game board.
If you want to do well, you need to start thinking about the consequences of your actions. And, not just the consequences of your actions for the immediate next move, but the consequences for moves multiple turns into the future.
The same applies to real estate investing... you need to be thinking not just about the deal analysis and loan of the property right in front of you; that’s table stakes. You need to be thinking about what the consequences are for that property far off into the future and, if you’re good, for multiple properties and multiple loans into the future.
That’s why loan planning is so important and why we’ll cover it in detail in this mini-class.
Check out the video from this class here:
The Importance of Loan Planning for Real Estate Investors - Video
In this class, James discusses:
- The 10 loan limit from Fannie Mae and Freddie Mac for purchasing non-owner-occupant investment properties
- Why are these loans important to real estate investors
- What do you use after you reach the limit?
- Why is it important to optimize these 10 loan spots?
- What are some exceptions to the 10 loan rule?
- A strategy to double your loan spots
- The Nomad™ preferred loan plan
- Plus much more...
Free 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
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the West Palm Beach real estate investor podcast? Book a free consultation to discuss.
Hard Money and Private Money for Real Estate Investors
Certain real estate investing strategies suggest certain types of financing. For example, most long-term buy-and-hold real estate investors purchasing non-owner-occupant properties will opt for 30-year fixed rate conventional financing or commercial loans. House hackers and Nomads™ will often seek out low or zero down VA, USDA, FHA, and conventional financing options.
However, sometimes the real estate investing strategy will lean toward utilizing hard money and private money loans. Some examples include utilizing the BRRRR strategy or doing fix-and-flips.
In this mini-class, James will go over the basics of hard money and private money loans.
Check out the video from this class here and access the downloads mentioned in the recording:
Hard Money and Private Money for Real Estate Investors - Video and Downloads
In this class, James discusses:
- What is hard money? And, a deep dive into using it as a real estate investor.
- The aspiration goal of becoming a hard money lender and two possible concerns
- What is private money? And, a deep dive into using it as a real estate investor.
- A warning about inadvertent ponzi schemes
- A discussion about licensing required to raise private money and the license I got
- Download a sample of my personal, 25-page Private Lender special report
- Using a business card to raise private money (sample of mine)
- Plus much more...
Free 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
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the West Palm Beach real estate investor podcast? Book a free consultation to discuss.
Commercial Loans 101 for Real Estate Investors
Recently, we have been covering a variety of financing options for real estate investors. However, we have primarily focused on financing single-family homes, condos, townhomes, duplexes, triplexes, and fourplexes. But what if you're interested in purchasing a commercial building, an apartment with five or more units, or an industrial property?
That's where commercial financing comes in.
In this mini-class, James will introduce you to commercial financing, explain how it differs from more conventional financing options, and discuss when you might use it as a real estate investor.
Check out the video from this class here:
Commercial Loans 101 for Real Estate Investors - Video
In this class, James discusses:
- An overview of other financing options before we get to commercial loans and commercial lenders in West Palm Beach
- What are commercial loans?
- When do we typically use them as real estate investors?
- Plus much more...
Free 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
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the West Palm Beach real estate investor podcast? Book a free consultation to discuss.
Portfolio Loans 101 for Real Estate Investors
Most real estate investors initially use conventional financing options to acquire their rental property portfolio. However, when they hit the limit of conventional loans they can obtain, they may switch to portfolio loan products to continue acquiring properties. Additionally, when doing certain types of partnerships, it may be beneficial to consider portfolio loans.
In this mini-class, James covers the basics of portfolio mortgage financing for real estate investors.
Check out the video from this class here:
Portfolio Loans 101 for Real Estate Investors - Video
In this class, James discusses:
- An overview of other financing options before we get to portfolio loans and portfolio lenders in West Palm Beach
- What are portfolio loans?
- When do we typically use them as real estate investors?
- Plus much more...
Free 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
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the West Palm Beach real estate investor podcast? Book a free consultation to discuss.
Conventional Financing 101 for Real Estate Investors
While about one-third of real estate transactions are all-cash, the majority of real estate investors use conventional financing options to acquire their rental properties. Even new investors often desire to utilize creative financing strategies, but it's important to have a foundational understanding of conventional financing.
In this mini-class, James will cover the basics of conventional financing for real estate investors.
Check out the video from this class here:
Conventional Financing 101 for Real Estate Investors - Video
In this class, James discusses:
- An overview of other financing options before we get to conventional financing
- Conventional financing for both non-owner-occupant investment properties and 3% and 5% down payment loans (especially for house hackers and Nomads™)
- Plus much more...
Free 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
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the West Palm Beach real estate investor podcast? Book a free consultation to discuss.
Improving Cash Flow on Rental Properties as a Landlord
When real estate prices, mortgage interest rates, and rent rates are high, it can be more challenging to generate great cash flow from a rental property. However, it is also more important than ever to do everything in your power to maximize cash flow.
There are 88 strategies for improving cash flow on rental properties, with some of the best are ones you apply as a landlord managing your rental property. This mini-class covers the cash flow improving strategies when you’re a landlord.
Check out the video of this class here:
Improving Cash Flow on Rental Properties as a Landlord - Video Recording
In this special mini-class for the Real Estate Financial Planner™ coaching program James covers:
- 88 Ways to Improve Cash Flow from Real Estate Rental Properties including the following...
- Improving cash flow by adding additional services
- Improving cash flow by providing desirable done-for-you services
- Improving cash flow by billing back for things you're paying for on behalf of the tenants
- Improving cash flow by tiering rent by credit score
- Improving cash flow by charging pet rent for pets
- Improving cash flow by changing the billing frequency
- Improving cash flow by utilizing autopay
- Improving cash flow by offering a discount for on-time payments
- Improving cash flow by changing the term of the leasing period (short-term rentals as an example)
- Improving cash flow by requiring 60-90 days notice from existing tenants
- Improving cash flow by starting to market your property early for lease and testing higher rent
- Improving cash flow by renewing during peak rental season
- Improving cash flow by requiring tenant's have renter's insurance to protect their personal belongings
- Plus more...
Free 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
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the West Palm Beach real estate investor podcast? Book a free consultation to discuss.
Low Down Payment Financing Options for Real Estate Investors
Real estate investors often believe that minimizing their down payment leads to higher returns. This is partly true since a lower down payment means higher leverage, which amplifies returns. However, returns can be amplified both positively (when returns are positive) and negatively (when returns are negative or things don't go as planned).
Although there may be additional low-down creative financing options available, there are a few traditional financing options that require a "low down payment." In this mini-class, we will cover these options.
Check out the video from this class here:
Low Down Payment Financing Options for Real Estate Investors - Video
In this class, James discusses:
- FHA 3.5% down payment loans (especially for house hackers and Nomads™)
- Conventional 3% and 5% down payment loans (especially for house hackers and Nomads™)
- Low down payment financing options
- Creative financing
- Owner financing
- Wrap financing
- Loan assumption
- Rent to own, lease to own, lease-option, lease-purchase
- Installment land contract, contract for deed, etc
- Subject to
- Private money and hard money
- Local banks
- Plus much more...
Free 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
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the West Palm Beach real estate investor podcast? Book a free consultation to discuss.
Property prices and interest rates are currently high, while rents are not keeping up. Achieving cash flow has become even more crucial and challenging than ever, despite our 88 strategies to maximize it.
One common question that arises is whether it is better to purchase rental properties with 20% down payments or to invest in stocks. Buying rental properties with 20% down allows you to use leverage, which can significantly magnify both good and bad returns. Therefore, selecting the right investment property is crucial to your success or lack thereof.
To be fair, you could also leverage yourself by investing in stocks to a lesser degree. However, we won’t be discussing this in this particular comparison class.
Owning rentals requires a more active approach than passively investing in stocks. Is the extra work worth the extra effort? How much better or worse is it?
In this special class, James will compare the two strategies across 300 US markets, as the numbers differ depending on local market prices, rents, and income. Which strategy - 20% down or stocks - leads to a higher net worth? Which gets you to financial independence faster? Which is safer, and which carries more risk? And much more.
After attending this class, you should have a clearer understanding of whether you should seriously consider saving up 20% down payments to acquire up to 10 rental properties or take the easier route of passively investing in the stock market.
Check out the video and interactive charts from this class here:
https://RealEstateFinancialPlanner.com/model/20-down-payment-versus-stocks/
Or, see West Palm Beach specific, detailed analysis of a variety of strategies here:
https://RealEstateFinancialPlanner.com/model/FL/West_Palm_Beach/
Free 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
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the West Palm Beach real estate investor podcast? Book a free consultation to discuss.
Is Creative Financing Really Nothing Down?
Every real estate investor has heard stories of the amazing deals that can be found with creative financing, often involving instant equity from buying significantly below current fair market value with nothing down. While these deals do exist, they are not typical. So, what can an investor reasonably expect when it comes to creative financing deals that require no money up-front?
In this mini-class, James tackles this question head-on and examines whether lease-option, subject to, owner financing, and other popular creative financing deals are truly nothing down or if they require some money up-front.
Check out the video from this class here:
Is Creative Financing Really Nothing Down? - Video
In this class, James discusses:
- Nothing down financing options
- Creative financing
- Owner financing
- Wrap financing
- Loan assumption
- Rent to own, lease to own, lease-option, lease-purchase
- Installment land contract, contract for deed, etc
- Subject to
- Private money and hard money
- VA Loans and USDA Loans (especially for house hackers and Nomads)
- Local banks
- Plus, why these may be no down payment required, that doesn't mean no money required
- Plus much more...
Free 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
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the West Palm Beach real estate investor podcast? Book a free consultation to discuss.
Improving Cash Flow on Properties You Already Own
When real estate prices, mortgage interest rates, and rental rates are high, generating great cash flow from a rental property can be more challenging. However, it is also more important than ever to do everything in your power to maximize cash flow.
There are 88 strategies for improving cash flow on rental properties, with some powerful ones related to properties you already own. This mini-class covers the strategies for those properties, which make up the second largest group of strategies.
Check out the video of this class here:
Improving Cash Flow on Properties You Already Own - Video Recording
In this special mini-class for the Real Estate Financial Planner™ coaching program James covers:
- 88 Ways to Improve Cash Flow from Real Estate Rental Properties including the following...
- Improving cash flow by refinancing to extend the term
- Improving cash flow by refinancing to improve the interest rate
- Improving cash flow by paying off the loan completely
- Improving cash flow by correcting assessor info
- Improving cash flow by contesting tax increases with valid comps
- Improving cash flow by voting appropriately on tax related measures
- Improving cash flow by shopping your insurance rates
- Improving cash flow by evaluating your insurance coverage
- Improving cash flow by optimizing who is insured on your policies
- Improving cash flow by setting an appropriate insurance deductible for your situation/properties
- Improving cash flow by removing private mortgage insurance
- Improving cash flow by getting a discount for setting up autopay
- Improving cash flow by getting a discount for paying in full/early
- Improving cash flow by self managing
- Or, alternatively improving cash flow by hiring a professional property manager
- Improving cash flow by managing your property manager
- Improving cash flow by insisting that your team apply best practices
- Improving cash flow by maintaining your properties
- Improving cash flow by using quality materials
- Improving cash flow by accelerating depreciation
- Plus more...
Free 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
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the West Palm Beach real estate investor podcast? Book a free consultation to discuss.
Nothing Down Financing Options for Real Estate Investors
Some real estate investors are obsessed with investing in real estate with no down payment. For some, it is a practical necessity because they don't have the funds for a down payment. For others, it's about boosting their return on investment.
Although there may be other local options and creative financing options available, there are two primary "no down payment" options for traditional financing. In this mini-class, we will cover these two traditional "no down payment" options.
Check out the video from this class here:
Nothing Down Financing Options for Real Estate Investors - Video
In this class, James discusses:
- Nothing down financing options
- Creative financing
- Owner financing
- Wrap financing
- Loan assumption
- Rent to own, lease to own, lease-option, lease-purchase
- Installment land contract, contract for deed, etc
- Subject to
- Private money and hard money
- VA Loans and USDA Loans (especially for house hackers and Nomads)
- Local banks
- Why no down payment may be at odds with improving cash flow and why it might not matter (depending on your goal)
- Why no down payment may not be no money required
- Plus much more...
Free 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
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the West Palm Beach real estate investor podcast? Book a free consultation to discuss.
Property prices and interest rates are high, while rents are lagging. Cash flow is both more important and harder to achieve than ever, even with our 88 strategies to improve and maximize it.
Another question common rises to the top of the list: I’m going to buy an owner-occupant property with 5% down first, but then… should you put 20% down when acquiring your rental properties, or should you save up a little more and put 25% down even if it means a slightly slower acquisition pace?
Putting 25% down does get you a slightly better interest rate and because you’re borrowing less cash flow is slightly better too. Will that make up for having to wait a little longer saving up for slightly larger down payments?
In this special class, James will conduct a thorough comparison of the two strategies across 300 US markets, as the numbers vary depending on your local market's prices, rents, and income.
Which strategy—20% down or 25% down—gives you a higher net worth? Which gets you to financial independence the fastest? Which is the safest, and which has the most risk? Plus much more.
After attending this class, you should have a much clearer understanding of whether you should seriously consider taking the extra time and effort to save up 25% down payments or push to acquire as quickly as possible with 20% down payments when acquiring up to 10 rental properties.
Check out the video and interactive charts from this class here:
https://RealEstateFinancialPlanner.com/model/20-versus-25-down-payment/
Or, see West Palm Beach specific, detailed analysis of a variety of strategies here:
https://RealEstateFinancialPlanner.com/model/FL/West_Palm_Beach/
Free 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
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the West Palm Beach real estate investor podcast? Book a free consultation to discuss.
Selecting a Lender for Real Estate Investors
The top two, most commonly used dream team members for real estate investors are real estate agents and lenders. In this mini-class we will discuss how to select a lender to use as a real estate investor.
We will discuss some of the selection criteria I consider when choosing a lender to work with.
Check out the video from this class here:
Selecting a Lender for Real Estate Investors - Video
In this class, James discusses:
- The non-monetary considerations when selecting a lender for your real estate investing
- It's not always, exclusively about price
- Being a good Dream Team member
- Additional or fewer overlays
- Personality
- Accessibility and communication
- Going above and beyond
- Lender programs vary
- Plus much more...
Free 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
Improve Cash Flow: Book a consultation to improve cash flow using our proprietary 88 cash flow improving strategies.
Real Estate Agent & Lender Collaborators: Interested in collaborating with us on the West Palm Beach real estate investor podcast? Book a free consultation to discuss.
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 West Palm Beach with West Palm Beach 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 West Palm Beach and you can see exactly how effective… or ineffective… the Nomad™ strategy is in West Palm Beach with West Palm Beach, Florida 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 West Palm Beach:
https://RealEstateFinancialPlanner.com/model/FL/West_Palm_Beach/
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
Learn more about modeling your real estate investing strategy in CityName using a variety of different rules in the Real Estate Financial Planner™ software.
Watch the video version of this class:
https://realestatefinancialplanner.com/modeling-your-real-estate-investments-rules-overview/
Resources Mentioned In Class
- Real Estate Financial Planner™ Software - Get a free account on the Real Estate Financial Planner™ software to do your own modeling using the rules described in this class.
- Cash Flow versus Appreciation - A full class comparing investing in a market that has great cash flow versus a market that has great appreciation.
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
You can purchase a property in West Palm Beach, Florida using an FHA loan with just 3.5% down. Heck, sometimes you can even get down payment assistance to help with the 3.5% down payment.
But there are other loans with lower down payment options.
However, when you put less than 20% down, FHA loans require you buy insurance to protect the lender in case you default on the loan.
This insurance… called Mortgage Insurance Premiums (MIP) for FHA loans or the equivalent of Private Mortgage Insurance (PMI) on other types of loans… has both an upfront premium and a monthly premium.
And, with FHA loans this monthly premium NEVER goes away… even when you pay down the loan to well below 80% loan-to-value.
With this Mortgage Insurance Premium (MIP) that never goes away… does that mean that FHA loans are for suckers?!
Well… not so fast… in this class we will talk about the pros and cons of FHA loans and see if they’re really just a sucker’s loan or if West Palm Beach real estate investors could utilize FHA loans in a beneficial way.
See the charts and watch the video version of this class:
https://realestatefinancialplanner.com/are-fha-loans-for-suckers/
Resources Mentioned In Class
- The Ultimate Guide to Private Mortgage Insurance - A full class on Private Mortgage Insurance.
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
- Are we currently over-building?
- Have we been over-building in the last few years?
- Where are all the 5+ unit new construction properties?
- What can builders tell us about impending recessions?
Find out the answers to these questions and more in this first-ever chart reaction podcast episode and video from James as he goes over the following two charts from Bill McBride’s Calculated Risk Blog.
See the charts and watch the video version of this chart reaction video:
https://refp.substack.com/p/housing-starts-reaction-video
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
James is interviewed by Dave Goldberg with The Investor's Source about the effects of shifting economic forces on the real estate market.
Watch the video version of this interview:
https://www.youtube.com/watch?v=DELMeIdX8KE
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
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 West Palm Beach.
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 Munger
- Reserves
- Return Quadrants™
- Nomad™
- Focus
- Grass Isn’t Always Greener
- Past does not equal the Future
- Deeper Understanding of Income and Expenses
- Sharpen 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
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 West Palm Beach... 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 West Palm Beach... 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 West Palm Beach... 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
With rising interest rates in West Palm Beach, 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 Reserve
- Download the Mortgage Interest Rate Confidence Meter™ for Microsoft Excel
- 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
With rising interest rates in West Palm Beach, 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 Rates
- Infographic of 35 Years of Interest Rate Hikes from VisualCapitalist.com
- Interest rates hikes and rate of change of the rate chart
- 30-Year Fixed Rate Mortgage Average in US
- What 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 West Palm Beach, Florida
Direct link to the real estate investing models for West Palm Beach, Florida
Resources Mentioned
In this episode James mentions the following resources:
- Visual Capitalist Infographic
- Real Estate Investing Shocks! class recording
- Creative Financing Classes
- Ep 24: Norm and Norma Buy Free and Clear Rental Properties Podcast Episode
- Is Nomad™ Dead?! class recording
- Return Quadrants™
- Real Estate Financial Modeling for West Palm Beach, Florida
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
Learn this advanced goal setting process for real estate investors called the Future Narrative Process (or Future Narrative Checklist).
This is a throwback recording from 2012 when James first taught the process live.
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
Most real estate investors in West Palm Beach, Florida 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 Game
- Making a Commitment to Being Successful
- Finding Courage to Follow Through on Your Commitment
- Building the Skills and Capabilities to Be Successful as a Real Estate Investor
- Overcoming Fear
This 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 Mentioned
The 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
Most real estate investors in West Palm Beach, Florida 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 Missing
- Finding Deals
- Building a Dream Team to Support You
- Finding Partners
- Finding Tenants
This 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 Mentioned
The 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
Most real estate investors in West Palm Beach, Florida 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 Loans
- Overcoming Income Challenges (and Debt-To-Income) to Qualify for Loans
- Overcoming Credit Challenges to Qualify for Loans
- Overcoming Loan Spot Limitations for Getting Loans
This 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 Mentioned
The 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
Most real estate investors in West Palm Beach, Florida 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 Flow
- Cash Flow = Income - Expenses
- Reduce expenses and produce more income
- Lowest Monthly Payment Guarantee™
- Maximum Cash Flow Guarantee™
- Strategies to Reduce Monthly Payments with Your Lender
- Strategies if You Own Other Property
- Strategies When Searching for Homes
- Strategies When Making Offers
- Strategies When You Own/Manage Properties
- Strategies to Maximize Income
This 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 Mentioned
The 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
Most real estate investors in West Palm Beach, Florida 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 Payments
- Strategies to reduce the need for down payments and strategies to produce down payments, closing costs and reserves
- How to reduce the need for down payments
- No Down Payment Loans
- Creative Financing
Plus these sources of down payments:
- "Investment Cards" (aka Credit Cards)
- Security Deposit
- Maintenance Reserves
- Property equity (sell, refi, pledge)
- Depreciation (and other delayed taxes/refunds)
- Retirement Account
- Family Members (Legacy Nomad™ or Nomad by Proxy™)
- Sell stuff you don’t need or want
- Saving
- Partnering
- Rents (including House Hacking)
- Lease-Option Fees
This 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 Mentioned
The 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
Most real estate investors in West Palm Beach, Florida 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: Introduction
What's preventing you from achieving your real estate goals? For this class, I break it down into 5 major categories
- Coming up with Down Payments (including closing costs and reserves)
- Overcoming Negative Cash Flow
- Qualifying for Loans
- Finding What's Missing
- Inner Game
Many 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 obvious
- Often times there is more than one solution/challenge
- Will these solutions work for me?
Part 2 of 6: Down Payments
- Strategies to reduce the need for down payments and strategies to produce down payments, closing costs and reserves
- How to reduce the need for down payments
- No Down Payment Loans
- Creative Financing
Plus these sources of down payments:
- "Investment Cards" (aka Credit Cards)
- Security Deposit
- Maintenance Reserves
- Property equity (sell, refi, pledge)
- Depreciation (and other delayed taxes/refunds)
- Retirement Account
- Family Members (Legacy Nomad™ or Nomad by Proxy™)
- Sell stuff you don’t need or want
- Saving
- Partnering
- Rents (including House Hacking)
- Lease-Option Fees
Part 3 of 6: Negative Cash Flow
- Cash Flow = Income - Expenses
- Reduce expenses and produce more income
- Lowest Monthly Payment Guarantee™
- Maximum Cash Flow Guarantee™
- Strategies to Reduce Monthly Payments with Your Lender
- Strategies if You Own Other Property
- Strategies When Searching for Homes
- Strategies When Making Offers
- Strategies When You Own/Manage Properties
- Strategies to Maximize Income
Part 4 of 6: Qualifying for Loans
- Overcoming Income Challenges (and Debt-To-Income) to Qualify for Loans
- Overcoming Credit Challenges to Qualify for Loans
- Overcoming Loan Spot Limitations for Getting Loans
Part 5 of 6: Finding What You're Missing
- Finding Deals
- Building a Dream Team to Support You
- Finding Partners
- Finding Tenants
Part 6 of 6: Inner Game
- Making a Commitment to Being Successful
- Finding Courage to Follow Through on Your Commitment
- Building the Skills and Capabilities to Be Successful as a Real Estate Investor
- Overcoming Fear
This 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 Mentioned
The 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
How prepared are you for a drop in rent in West Palm Beach, Florida? How prepared are you for a drop in property values (price) in West Palm Beach, Florida? Rent Resiliency™ measures how much rent can drop before you have negative cash flow. Price Resiliency™ measures how much property values (price) can drop before you're upside down, underwater or have negative equity. Learn how to measure and evaluate your individual properties, entire portfolio or entire real estate investing strategy in terms of these measures of risk in this class recording.
Topics discussed include:
- What is resiliency?
- What is Price Resiliency™? What is Rent Resiliency™?
- The two flavors of resiliency: dollars and percent.
- Measuring resiliency on the individual property basis or the entire portfolio
- Measuring resiliency as a snapshot in time or over time
- Examples using over-simplified math:
- What happens when rents go up 10%, down 10% in two different portfolios?
-
What happens when prices go up 10%, down 10% in two different portfolios?
-
Resiliency is largely about leverage
- Thought experiment: what is more risky... 0% or 10% down payment?
- The 7 Ways to Measure Risk in Real Estate Investments
- How much riskier is it... a discussion of offsetting risk measures
- Examples of interpreting Price Resiliency™ (charts)
- Examples of interpreting Rent Resiliency™ (more charts)
- Comparing putting 5%, 20%, 25% or 100% down - how risky are they compared to each other?
- Evaluating risk: why 20% resiliency is not twice as good as 10% resiliency
- Diversification and the role of resilience based on various levels of diversification
- The counterintuitive nature of risk and reward in real estate investing
- A brief overview of rent and price resiliency from various Scenarios we discussed in previous classes on:
- Buy and Hold Real Estate Investing
- Nomad™ Real Estate Investing Strategy
- House Hacking Real Estate Investing Strategy and
-
BRRRR Real Estate Investing Strategy
-
An introduction to True Price Resiliency™ and True Rent Resiliency™ and how they differ from their non-"True" counterparts.
- How Cash Flow from Depreciation™ acts when discussing Rent Resiliency™
- An introduction to Vacancy Resilience™, Property Insurance Resilience™, Property Taxes Resilience™, Maintenance Resilience™, Maintenance Resilience™ and Capital Expenses Resilience™
- The Price Resilience™ and Rent Resilience™ of James' personal real estate portfolio.
- Plus much more
This class was recorded to help real estate investors better understand how risky the real estate investing strategy they are considering is and how to compare strategies they're considering using 2 (of 7) ways to measure risk: Price Resiliency™ and Rent Resiliency™.
Watch the video version of this class:
https://realestatefinancialplanner.com/rent-and-price-resiliency-for-real-estate-investors/
Additional Resources
The following are additional resources mentioned in the class recording: * Rent Resiliency™ - Learn about Rent Resiliency™ and how it is used to measure risk. * Price Resiliency™ - Learn about Price Resiliency™ and how it, too, is used to measure risk. * Cash Flow Power Meter™ - Learn how to visually see how powerful the cash flow from a property is. * Real Estate Partnerships - Learn about the real estate investing strategy of forming real estate partnerships in this special class. * Buy and Hold Real Estate Investing - Learn about the buy and hold real estate investing strategy. * Nomad™ Real Estate Investing Strategy - Learn how to acquire a portfolio of rental properties with little or nothing down and owner-occupant financing. * House Hacking Real Estate Investing Strategy - Learn how to make extra cash flow from properties you're already living in. * BRRRR Real Estate Investing Strategy - Learn how to acquire rental properties at a discount... buying properties, rehabbing them, refinancing out all or most of the money you have into the property and then holding it as a rental.
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
Unexpected things while investing in real estate can be shocking! Find out the most common real estate investing shocks in West Palm Beach, Florida and how to mitigate and/or elimiate them completely in this special class. Especially helpful for newer real estate investors that are not aware of some of the things that could go wrong while buying, selling and owning properties as a real estate investor in West Palm Beach.
Topics discussed include:
- What are real estate investing shocks?
- Dan Sullivan says: If you've got enough money to solve the problem, you don't have the problem.
- Maybe these shouldn't be shocks...
- Your Shoe is Untied and How to Deal With Your Real Estate Investing Shocks
- Reverse Shocks - How Some Shocks Can Be Pleasant Surprises
- General Mitigation Principles for Dealing with Shocks
- The Importance of Reserves When Investing in Real Estate
- The Importance of a Wise Advisor to Guide You
- The Importance of Studying History for Real Estate Investors
- The Importance of Having a Backup Plan
- The Importance of Evaluating Your Risk and Determining Your Personal Comfort Level
- The Importance of Patience and Managing Your Own Expectations
- The Importance of Understanding Your Own Circle of Control
- The Importance of Expected Value
- Shocks Broken Out By Groups: Before You Buy, Under Contract, Post-Closing, Selling and Extras
- The Shock of Multiple Competing Offers
- 10 Tips to Get Offers Accepted In Hot Markets
- The Shock of Competing Against Cash Offers
- The Shock of Limited Accessibility to Properties
- The Shock of Not Having All the Information You Need to Make a Decision
- The Shock of Changing Interest Rates
- The Shock of Inspection Issues
- The Shock of Not Qualifying for Mortgages
- The Shock of Not Being Able to Get Property Insurance
- The Shock of Properties Not Appraising
- The Shock of Title or HOA Issues
- The Shock of Not Being Able to Get The Rent You Expected
- Tips on How to Improve Cash Flow
- The Shock of Undisclosed Issues
- The Shock of The Seller or Tenant Not Moving Out
- The Shock of Inadequate Property Insurance
- The Shock of Price and Rent Drops
- The Shock of HOA Restrictions Limiting What You Can Do With Your Property
- The Shock of Your Loan Being Called Due (Creative Financing and Asset Protection)
- Due on Sale and Due on Transfer Laws
- The Shock of Not Receiving Offers
- The Shock of Buyer Backing Out
- The Shock of Conditional Transaction Chains
- The Shock of 1031 Exchange Issues
- Plus much more
This class was recorded to help real estate investors learn about possible unexpected shocks while investing in real estate along with some tips for mitigating and/or completely eliminating these shocks.
Watch the video version of this class and download the How to Improve Cash Flow handout:
https://realestatefinancialplanner.com/real-estate-investing-shocks/
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
Learn how to find off-market deals in West Palm Beach, Florida. Especially helpful to find creative financing deals and fixer upper properties using marketing and other strategies.
Topics discussed include:
- How real estate investors find deals from The Millionaire Real Estate Investor book by Gary Keller et al
- Why Motivated Sellers? Creative Transactions and Fixer Upper Properties.
- Where are we in the Real Estate Investor Daily Checklist?
- 1-Step versus 2-Step Marketing
- The Importance of Being on the Right Side of the Desk
- Answering Service Questions and how to make an offer on the first call (to your answering service)
- How Much to Spend on Marketing Tests?
- Marketing Beliefs
- Sifting and Sorting to find the best deals
- Staying out of the Feast and Famine cycle
- Looking inside and outside the industry for the best marketing ideas
- Marketing Modeling Spreadsheet (download available)
- Target Profit
- Goals and Metrics
- Motivated Sellers for Lazy and Poor Folks
- Lazy Marketing Methods for those with more money than time to find deals
- Poor Marketing Methods for those with more time to invest in finding deals than money
- Dan Kennedy's 3 Ms of Marketing: Market, Message and Media
- Market and info of the best market to pursue
- Motivated Seller Marketing Headlines (the list)
- Alternative Marketing Headlines
- Market to Message Match
- The importance of making multiple contacts and following up
- Credibility Packet and Testimonials (downloadable sample available)
- Commit to Improve Your Response Rate In All Your Marketing
- Success Ratios: how much work to get a deal from a variety of sources
- Testing Versus Buying Tested Marketing
- Sample Elevator Speech
- Sample Real Estate Investor Business Card (including a special twist used for raising private money)
- Sample Bandit Signs
- Adapting to buying from motivated sellers in hot markets (what changes)
- Why direct mail? Pros and cons.
- Defining your farm area for direct mail.
- Mailing List Selection Criteria
- Mailing List Sources
- Mailing List Hygiene
- Direct Mail Marketing Messages (including a number of sample letters and postcards)
- Direct Mail Marketing Media to use to find deals
- What name should you use on your marketing?
- What phone numbers, website, email address and return mailing address should you use on your marketing?
- Mailing Services
- Plus much more
This class was recorded to help real estate investors learn how to market to find off-market deals for creative financing and fixer uppers.
Watch the video version of this class and download the handouts from the live in-person version:
https://realestatefinancialplanner.com/marketing-to-find-off-market-deals/
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
A deep-dive into real estate partnerships including the 3 roles: deal maker/syndicator, money partner and loan partner in West Palm Beach, Florida.
Includes a qualitative discussion of what real estate partnerships are and how to do them plus quantitative, numbers-based discussions showing how each partnership role might perform toward a goal of achieving financial independence.
Check out our real estate partnerships (and other real estate investing strategies) for West Palm Beach, Florida:
https://RealEstateFinancialPlanner.com/model/FL/West_Palm_Beach/
Topics discussed include the following for each partnership role:
- Money, credit and skills required
- The style of this strategy (investor/entrepreneurial)
- The stability and scalability of this strategy
- What is your risk exposure and profit speed doing this strategy
- Finding and analyzing deals including any direct marketing suggestions
- The best real estate market conditions for this strategy
- How accessible and available are properties for this strategy
- Whether you can do this strategy with a retirement account
This class was recorded to give investors a solid overview of real estate partnerships and how they compare to other strategies like traditional buy and hold, Nomad™, house hacking, BRRRR, flipping properties and creative financing.
Watch the video version of this class and download the handouts from the live in-person version:
https://realestatefinancialplanner.com/real-estate-partnerships-class/
Additional Resources
The following are additional resources mentioned in the class recording: * Everything You Learned About Deal Analysis Is Wrong - Learn about the importance of accounting for reserves when analyzing real estate deals in this special class. * Return Quadrants - Learn about James Orr's Return Quadrants for better understanding of how real estate investments make money and how much. * Real Estate Financial Modeling for 300 Cities - See how buy and hold might perform for properties in your local real estate market and see our modeling for implementing a variety of real estate investing strategies using city-specific numbers for over 300 cities. * Real Estate Financial Planner™ Podcast - Check out the Real Estate Financial Planner™ Podcast to learn more about Norm and Norma (featured in this episode) and their journey to achieve financial independence.
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
A deep-dive into creative financing strategies like owner financing, wrap financing, subject to, lease-options, lease-purchases, rent to own, lease to own, agreement for deed, contract for deed and loan assumptions in West Palm Beach, Florida.
Includes a qualitative class discussing what the creative financing strategies are and how to do them plus quantitative, numbers-based discussions showing how creative financing strategies perform toward a goal of achieving financial independence.
Check out our creative financing modeling (and other real estate investing strategies) for West Palm Beach, Florida:
https://RealEstateFinancialPlanner.com/model/FL/West_Palm_Beach/
Topics discussed include:
- Money, credit and skills required
- The style of this strategy (investor/entrepreneurial)
- The stability and scalability of this strategy
- What is your risk exposure and profit speed doing this strategy
- Finding and analyzing deals including any direct marketing suggestions
- The best real estate market conditions for this strategy
- How accessible and available are properties for this strategy
- Whether you can do this strategy with a retirement account
This class was recorded to give investors a solid overview of creative financing real estate investing strategies and how they compares to other strategies like traditional buy and hold, Nomad™, house hacking, BRRRR and flipping properties.
Watch the video version of this class and download the handouts from the live in-person version:
https://realestatefinancialplanner.com/creative-financing-and-real-estate-entrepreneurship/
Additional Resources
The following are additional resources mentioned in the class recording: * Return Quadrants - Learn about James Orr's Return Quadrants for better understanding of how real estate investments make money and how much. * The Ultimate Financial Independence Retire Early Budget - A class and downloadable spreadsheet for creating your own Ultimate FIRE Budget. * Real Estate Financial Modeling for 300 Cities - See how buy and hold might perform for properties in your local real estate market and see our modeling for implementing a variety of real estate investing strategies using city-specific numbers for over 300 cities.
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
A deep dive into the flipping properties strategy in West Palm Beach, Florida.
Includes a qualitative class discussing what the quick turn and flipping properties strategy is and how to do it plus quantitative, numbers-based discussions showing how the strategy performs toward a goal of achieving financial independence.
Check out our flipping properties modeling (and other real estate investing strategies) for West Palm Beach, Florida:
https://RealEstateFinancialPlanner.com/model/FL/West_Palm_Beach/
Topics discussed include:
- Money, credit and skills required
- The style of this strategy (investor/entrepreneurial)
- The stability and scalability of this strategy
- What is your risk exposure and profit speed doing this strategy
- Finding and analyzing deals including any direct marketing suggestions
- The best real estate market conditions for this strategy
- How accessible and available are properties for this strategy
- Whether you can do this strategy with a retirement account
This class was recorded to give investors a solid overview of the flipping properties real estate investing strategy and how it compares to other strategies like traditional buy and hold, Nomad™, house hacking and BRRRR.
Watch the video version of this class and download the handouts from the live in-person version:
https://realestatefinancialplanner.com/quick-turn-and-flipping-properties/
Additional Resources
The following are additional resources mentioned in the class recording: * Return Quadrants - Learn about James Orr's Return Quadrants for better understanding of how real estate investments make money and how much. * Real Estate Financial Modeling for 300 Cities - See how buy and hold might perform for properties in your local real estate market and see our modeling for implementing a variety of real estate investing strategies using city-specific numbers for over 300 cities.
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
A deep dive into the Buy, Rehab, Rent, Refi and Repeat (BRRRR) strategy in West Palm Beach, Florida.
Includes a qualitative class discussing what the BRRRR strategy is and how to do it plus quantitative, numbers-based discussions showing how the strategy performs toward a goal of achieving financial independence.
Check out our BRRRR modeling (and other real estate investing strategies) for West Palm Beach, Florida:
https://RealEstateFinancialPlanner.com/model/FL/West_Palm_Beach/
Topics discussed include:
- Money, credit and skills required
- The style of this strategy (investor/entrepreneurial)
- The stability and scalability of this strategy
- What is your risk exposure and profit speed doing this strategy
- Finding and analyzing deals including any direct marketing suggestions
- The best real estate market conditions for this strategy
- How accessible and available are properties for this strategy
- Whether you can do this strategy with a retirement account
This class was recorded to give investors a solid overview of the BRRRR real estate investing strategy and how it compares to other strategies like traditional buy and hold, Nomad™ and house hacking.
Watch the video version of this class and download the handouts from the live in-person version:
https://realestatefinancialplanner.com/brrrr-real-estate-investing-strategy/
Additional Resources
The following are additional resources mentioned in the class recording: * Return Quadrants - Learn about James Orr's Return Quadrants for better understanding of how real estate investments make money and how much. * Real Estate Financial Modeling for 300 Cities - See how buy and hold might perform for properties in your local real estate market and see our modeling for implementing a variety of real estate investing strategies using city-specific numbers for over 300 cities.
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
A deep dive into the strategy of house hacking in West Palm Beach, Florida.
Includes a qualitative class discussing what the house hacking strategy is and how to do it plus quantitative, numbers-based discussions showing how the strategy performs toward a goal of achieving financial independence.
Check out our house hacking modeling (and other real estate investing strategies) for West Palm Beach, Florida:
https://RealEstateFinancialPlanner.com/model/FL/West_Palm_Beach/
Topics discussed include:
- Money, credit and skills required
- The style of this strategy (investor/entrepreneurial)
- The stability and scalability of this strategy
- What is your risk exposure and profit speed doing this strategy
- Finding and analyzing deals including any direct marketing suggestions
- The best real estate market conditions for this strategy
- How accessible and available are properties for this strategy
- Whether you can do this strategy with a retirement account
- We discuss both long-term tenants and short-term tenants (like vacation rentals).
This was a live class recorded to give investors a solid overview of the house hacking real estate investing strategy including traditional house hacking, Nomad™ with House Hacking, house hacking with short-term rentals, and house hacking with traditional buy & hold.
Watch the video version of this class and download the handouts from the live in-person version:
https://realestatefinancialplanner.com/house-hacking-real-estate-investing-strategy/
Additional Resources
The following are additional resources mentioned in the class recording: * Return Quadrants - Learn about James Orr's Return Quadrants for better understanding of how real estate investments make money and how much. * Real Estate Financial Modeling for 300 Cities - See how buy and hold might perform for properties in your local real estate market and see our modeling for implementing a variety of real estate investing strategies using city-specific numbers for over 300 cities.
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
A deep dive into the strategy of buying rental properties utilizing the Nomad™ real estate investing strategy in West Palm Beach, Florida.
Includes a qualitative class discussing what the Nomad™ strategy is and how to do it plus quantitative, numbers-based discussions showing how the strategy performs toward a goal of achieving financial independence.
Check out our Nomad™ modeling (and other real estate investing strategies) for West Palm Beach, Florida:
https://RealEstateFinancialPlanner.com/model/FL/West_Palm_Beach/
Topics discussed include:
- Money, credit and skills required
- The style of this strategy (investor/entrepreneurial)
- The stability and scalability of this strategy
- What is your risk exposure and profit speed doing this strategy
- Finding and analyzing deals including any direct marketing suggestions
- The best real estate market conditions for this strategy
- How accessible and available are properties for this strategy
- Whether you can do this strategy with a retirement account
- We discuss both long-term tenants and short-term tenants (like vacation rentals).
This was a live class recorded to give investors a solid overview of the Nomad™ real estate investing strategy including traditional Nomad™, Fixer Upper Nomad™, Nomad™ by Proxy, Nomad™ to Short-Term Rental, Nomad™ with House Hacking, Nomad™ with Lease-Option Exit and The Ultimate Real Estate Agent Retirement Plan.
Watch the video version of this class and download the handouts from the live in-person version:
https://RealEstateFinancialPlanner.com/nomad-real-estate-investing-strategy/
Additional Resources
The following are additional resources mentioned in the class recording: * How to Acquire a Multi-Million Dollar Real Estate Portfolio Starting with Just $3,000 - A series of classes and book James wrote about using the Nomad™ with Lease-Option strategy to do Nomad™ with very limited down payments. * Return Quadrants - Learn about James Orr's Return Quadrants for better understanding of how real estate investments make money and how much. * The Ultimate Financial Independence Retire Early Budget - A class and downloadable spreadsheet for creating your own Ultimate FIRE Budget. * Real Estate Financial Modeling for 300 Cities - See how buy and hold might perform for properties in your local real estate market and see our modeling for implementing a variety of real estate investing strategies using city-specific numbers for over 300 cities.
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
A deep dive into the strategy of buying income producing rental properties to buy, hold and rent out in West Palm Beach, Florida.
Includes a qualitative class discussing what the strategy is and how to do it plus quantitative, numbers-based discussions showing how the strategy performs toward a goal of achieving financial independence.
Check out our buy and hold modeling (and other real estate investing strategies) for West Palm Beach, Florida:
https://RealEstateFinancialPlanner.com/model/FL/West_Palm_Beach/
Topics discussed include:
- Money, credit and skills required
- The style of this strategy (investor/entrepreneurial)
- The stability and scalability of this strategy
- What is your risk exposure and profit speed doing this strategy
- Finding and analyzing deals including any direct marketing suggestions
- The best real estate market conditions for this strategy
- How accessible and available are properties for this strategy
- Whether you can do this strategy with a retirement account
- We discuss both long-term tenants and short-term tenants (like vacation rentals).
This was a live class recorded to give investors a solid overview of the buy and hold real estate investing strategy including short-term rentals.
Watch the video version of this class and download the handouts from the live in-person version:
https://RealEstateFinancialPlanner.com/buy-and-hold-real-estate-investing/
Additional Resources
The following are additional resources mentioned in the class recording:
- Cash Flow Versus Appreciation - Recording of class on achieving financial independence when you find yourself in a "cash flow" real estate market versus an "appreciation" real estate market.
- Real Estate Investor FIRE - Recording of a class on achieving financial independence for real estate investors.
- Return Quadrants - Learn about James Orr's Return Quadrants for better understanding of how real estate investments make money and how much.
- Real Estate Financial Modeling for 300 Cities - See how buy and hold might perform for properties in your local real estate market and see our modeling for implementing a variety of real estate investing strategies using city-specific numbers for over 300 cities.
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
James walks you through all the different real estate investing strategies available to real estate investors and real estate entrepreneurs in West Palm Beach, Florida.
This was a live class recorded to give investors a solid qualitative overview of all the different real estate investing strategies.
Watch the video version of this class and download the handouts from the live in-person version:
https://realestatefinancialplanner.com/real-estate-investing-strategies-class/
Additional Resources
The following are additional resources mentioned in the class recording:
- How to Acquire a Multi-Million Dollar Real Estate Portfolio Starting with Just $3,000 - Recording of class on using the Nomad™ real estate investing strategy with lease-option exits to virtually eliminate the need for down payments when investing.
- How to Sell Your Home in 5 Days - Book by Bill Effros about using the auction strategy to sell your home in 5 days.
- Is Nomad™ Dead? - Recording of class about how Nomad™ has changed from when we first started teaching it when home prices were lower and price-to-rent ratios were more favorable.
- WARNING: The Dangers and Risks of Real Estate Investing - Recording of class about the dangers and risks when investing in real estate and how to overcome or mitigate each one.
- Creative Financing - Information about creative financing for real estate investors.
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
James walks you through all the inputs for the rental property calculator, The World's Greatest Real Estate Deal Analysis Spreadsheet™, for analyzing cash flow on buy and hold properties in West Palm Beach, Florida.
This was a live class recorded for buy and hold real estate investors.
Watch the video version of this class and download the handouts from the live in-person version:
https://realestatefinancialplanner.com/an-intro-to-buy-and-hold-real-estate-deal-analysis/
Additional Resources
The following are additional resources mentioned in the class recording:
- Establishing Your Buying Criteria Workshop - Recording of workshop on how to establish your own personal buying criteria.
- The Ultimate Guide to Private Mortgage Insurance - Recording of class about private mortgage insurance for real estate investors.
- The Ultimate Guide to Rent Comps - Recording of class about how to determine rent comps for buy and hold real estate investors.
- 8 Money Saving, Risk Reducing Real Estate Investor Insurance Tips - Recording of class about optimizing property insurance for real estate investors.
- Real Estate Investor Financing Classes - A list of recordings of classes about financing for real estate investors.
- The Ultimate Guide to CapEx on Rental Property - Recording of class about capital expenses (CapEx) for real estate investors plus download the basic and advanced CapEx spreadsheets.
- Everything You Learned About Deal Analysis is Wrong - ROIQ+R™ - Recording of class about why everything you learned about deal analysis is wrong and how to do it correctly. Includes an introduction to the Return Quadrants™ with reserves.
Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet