138. Teaching Kids About Money / Ask The Money Nerds
Play • 20 min
Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode!

In life and in school we aren’t given money manual even though it is something that impacts us on a daily basis. We often develop habits from our parents or teachers and at times the amount of intelligence around it is often limited.

How can you teach your kids about money? When should you start teaching them? What are the best ways to teach your kids how to deal with money? Get answers to these very important questions on today's episode of Ask The Money Nerds!

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Website: https://wealthfactory.com/
The Remote Real Estate Investor
The Remote Real Estate Investor
How We’re Using Refi’s and HELOC’s To Grow Our Portfolios
In this episode Tom and Emil share their experience with the Refis an HELOCs they are currently processing. --- Transcripts Michael: Hey everybody, welcome to another episode of The Remote Real Estate Investor. My name is Michael Albaum and today I'm joined by my co hosts, Tom: Tom Schneider Emil: and Emil Shour. Michael: And today we're gonna be talking about loans, how to get them trials and tribulations upon getting them and things you can do to expedite the process along the way. So let's jump into it. Alright guys, so Tom, I'm curious now for a quick update from you, how is your insurance restructuring coming along? Tom: So I had the call with Nick, who is a an academy member and also an insurance broker expert. And I am we had a great call, and I'm sending him my current policies right now. hopefully get that done today. And then he's going to come back with game planning some options. So it's making progress, albeit not at work speed, but I'm ahead of where I was when we recorded our last episode on my 2020 failings. So making progress. Michael: Okay, good to hear. I will follow up with you on the next episode and see where you're at next. Tom: Love this. Thanks. Thanks for being my accountability buddy, Michael, Michael: That's what I do. That's what I do. Is he looking at every single one of your policies, or just only a handful? Tom: He's looking at a handful of them. He's looking at like six of them. So well, I don't know. We'll take a look. I'll keep you updated. Michael: All right, guys, I know that we are all in the midst of some form of loan product. And so we're going to be talking about some of the different products that are out there some of different products that we've utilized in the past, but a meal, I want to start with you since I know that you're in the midst of a cash out refinance, which is something that a lot of investors utilize along the way. So can you walk us back to why you wanted to get this? What was the kind of point and then what the results have been thus far, and what kind of ping us some questions along the way? Tom: And you're a good person to go first, because you held us up and recording because you had some stuff to do while we were waiting on the line for you related to your refi. Michael: So we're gonna blast you at the hotseat. Emil: Yeah, that's right, this is very pertinent, because they basically just asked me for my firstborn child so we can get into it. Alright, so this is the second property ever bought property in Indianapolis, we bought it for 115,000, back in 2017. And right now, with interest rates being so low and inventory being so low and prices going up a bunch because people are owner occupants are driving prices up, because everyone wants to get in a home. Now, the value of this property grew, I thought to about 140,000, or 150,000. So my plan was I could probably cash out our original investment down payment, closing costs, all that stuff was around 25 K. And I figured if values have risen to 140, 150K, I can probably pull out around 20,000 bucks, and it won't change my payment every month all that much. Because when I got the property, it was a 4.6% rate. And now at the refi, it's going to be a 3.1. So point and a half drop will offset a lot of what would be, you know, if I cashed out at the same rate, I'd be paying a lot more each month. But with that one and a half percent rate drop, my cash flow doesn't really change, my monthly payment goes up like 15 bucks or something 10, 15 bucks, and I get to pull this cash out. So we got the appraisal back last week. And to our great surprise, usually the painful surprise, this was a good surprise, it appraised for 157,000. So we're actually gonna be able to pull out our entire original investment of 25,000 bucks. So we'll be in this property for $0. And our monthly payment i think is going to go up like 25, 30 bucks in total. Tom: You know what, I think that is Emil. I think that's cool. You wanna know why I think it's cool? Emil: Why? Tom: BRRRRRRR BRRRR It's actually not like a traditional verb I cut he basically like effectively kind of did a burger, just being able to take all your cash out with the refinances. So it's not a full BRRRR. It's like a BRRR. Like you just Yeah, well, you probably didn't do a big renovation. Emil: I didn't know renovation, I was texting Michael, we were chatting on slack. And I coined a new phrase for this. It's called burger. And so what that stands for big GRP. So one is by the first key is get lucky and have the Fed drop rates. The second key is get more luck with low inventory and high demand. So prices go up. Yeah, the R is refi. And then the P is this probably won't repeat, we probably won't be able to do this lucky sequence of events because we just got lucky we didn't do anything we didn't we didn't force value and force appreciation we didn’t do anything special. It's just a nice sequence of events that sometimes when you're in the game, and the environment changes, you can take advantage of that. That's all happened here. Tom: BGRP. So that's sticky. I like that. Emil: Very, very sticky. It doesn't quite roll off the tongue. Michael: Rolls off the tongue so nicely. Fluid, you know, BGRP. So I have to ask though, I mean, I mean, it's we always joke on the show that you're a pessimistic person and I'm an optimist. Do you think that you made your own luck? Or do you really think this was just dumb luck? You threw darts at a board ended up in Indianapolis ended up with a, you know a great property? Or do you want to give yourself a little bit of credit and say, yeah, you know what I did some research, I did some legwork. This was a very calculated decision, Emil: I would say more luck than anything else, I'm not going to pretend like I saw this coming. And that's just me being really honest, I think you can often delude yourself into saying, Oh, I did all this research and blah, blah, blah. And sometimes, you know, maybe when Detroit or Cleveland in the past, you know, in 2008, when they had meteoric falls, I'm sure there were tons of people who were looking in those markets and saying, I bet Detroit or Cleveland could be on pace for great things, and then unpredictable things happen. I know, we all like to give ourselves a lot of credit and stuff. But I think a lot of stuff comes down to luck in my eyes. Tom: Yeah, I think that's true. But you also like need to be at the table to like to be lucky like that. Exactly. Like, if you're not if you're not gonna.. Emil: You need to be in the game playing in the game. Tom: That's right. So circling back on the finance aspect of this, this is something that I think about when I refinance, especially when I refinance pretty quickly from the original origination of the loan. So your example, so you said you bought in 2019, or 2018? Emil: 2017 Tom: * So you've made a bunch of loan payments, or a better way to put it as your renter has helped you make a bunch of loan payments. And with it being an amortized loan, the majority of those loan payments aren't cutting into the principal at all. It's just you're just basically, you know, paying that interest piece, I love to hear your guys's thoughts like in refinancing so quickly, it's like, you know, you don't bring the total loan basis down that much, just because those initial payments, so much of it is interest heavy, do you think that makes it like a better time to refinance versus just because you no longer into your mortgage, the more you're going to be able to cut into that hang down that principle total. And I'm just digging a little bit in the conversation and thinking about, I mean, I think we all like the concept of refinancing. But to play devil's advocate, so when you when you're refinancing, you're basically going back to square one, if you're doing another 30 year amortized loan, where you're only paying off interest for you know, are primar…
31 min
Real Estate & Financial Independence Podcast
Real Estate & Financial Independence Podcast
Chad Coach Carson
#149 - Under Contract How a New Investor Found Tied Up His First Deal
Episode #149 - A new investor named Scott Palmer just got his first rental property under contract! This is his 3rd coaching call with Chad where you get to look over Coach's shoulders and listen to their discussion about how Scott found, analyzed, and put this deal under contract. You'll also learn some of Scott's concerns about the next steps with due diligence, financing, and closing and Chad's feedback to help him. Free Webinar with Coach "My 5-Step Process to Confidently Close on Investment Properties" - http://coachcarson.com/webinar Show notes: https://www.coachcarson.com/ep149-under-contract/ 🏘️REAL ESTATE IN YOUR RETIREMENT ACCOUNT? This is a strategy I've used successfully for years, but you've got to make sure you have a custodian that specializes in this type of investment. I personally use and highly recommend my friends at American IRA. You can watch a short video, get an information guide, or set-up a free consultation at https://coachcarson.com/americanIRA __________ 🎧SUBSCRIBE to the podcast for more episodes about how to achieve financial independence and do what matters using real estate investing! https://coachcarson.com/podcast ---------------- ▶️WATCH my YouTube channel - Coach Carson TV - for tutorials, tips, strategies, and interviews https://www.youtube.com/user/CoachChadCarson?sub_confirmation=1 ---------------- 📋 GET MY FREE REAL ESTATE INVESTOR TOOLKIT https://coachcarson.com/reitoolkit ---------------- FOLLOW ME ON INSTAGRAM 📸 https://www.instagram.com/coachcarson1/ ---------------- READ MY BOOK ON RETIRING EARLY 📚 https://www.coachcarson.com/retirementbook ---------------- 👋👋 SAY HI ON SOCIAL https://www.facebook.com/coachchadcarson/ https://twitter.com/CoachChadCarson
42 min
GSD Mode
GSD Mode
Joshua Smith
How To Leverage REO and Short Sale Listings To Generate More Business | REO Series Part 4
Part 4 in our "REO and Short Sale Series" on How Real Estate Agents Can Have Massive Success with REO & Short Sales inside their Real Estate Businesses! In this Episode we break down our top methods, tips, strategies & advice on How To Leverage REO and Short Sales Listings To Generate More Real Estate Business and close more deals. One of the most powerful things, that very few Realtors and Real Estate Professionals know and/or understand, is how to strategically generate and create more Real Estate Business from the existing Business we already have. In this episode, we share our top tips specific to doing this with REO Listings and Short Sale Listings.   IMPORTANT: Make sure to watch Episodes 1 - 3, where we discuss: The importance of getting into REO and Short Sales, Top ways to get into REO and Short Sales & The overall important steps and main parts of the process that are essential to know for both REO and Short Sales... Links are below to check those out and watch those :)   *Check Out Part 1 Here: https://youtu.be/LUFvW2f8znk    *Check Out Part 2 Here: https://youtu.be/R6wwc57nXS0    *Check Out Part 3 Here: https://youtu.be/1yC4NqdYWKo    00:00 - Introduction    3:00 - The difference between working between banks and outsourced companies on REO listings   7:15 - The different ways of leverage REO    13:30 - The goal of the 1st 4 parts of this REO series    18:00 - Top 3 complaints from asset manager about real estate agents    28:45 - Why Ben loves the Home Partners Of America program   34:00 - How to get business from asset managers   40:00 - More info about REO University     To learn more about "REO University" Go To: http://reomasteryuniversity.com/      *IMPORTANT: If you decided to join REO University, make sure to use PROMO CODE:  REOUNIVERSITY  , all one word and all caps, this will save you $500 so you can get the entire Training Program for Only $997 or 3 Monthly Payments of $333!      Ben’s Contact Info:      https://www.facebook.com/barbergrouprealty/      https://www.facebook.com/ben.barber.90260      https://homeisawesome.com/    📚  For a TON of FREE Tips, Methods and Strategies to help you DOMINATE Your Real Estate Business, make sure to snag my new 100% Free Digital Book (it will be emailed to you within seconds) - Joshua Smith's Free Book "DOMINATE Your Real Estate Business - Top Tips From a Top Producers" go to: http://www.JoshuaSmithFREEBook.com/      👉 Looking for help in your Real Estate Business, Check out Joshua Smith's Coaching Program "Mastery Bootcamp" at: http://www.MasteryBootcamp.com      👉 Want to learn more about Joshua Smith's Coaching Program, see if the program is a fit for you, etc... Schedule a 100% Zero Pressure/Zero Hassle Discovery Call, Click Here:  http://www.MasteryBootcamp.com      👉 "Triple Your Real Estate Business In 90 Days" [FREE In-Depth 3 Hour Online Masterclass with Joshua Smith] - http://bit.ly/2WQHBqM      GSD Mode Podcast Sponsors/Supported By:      Perfect Storm (The most Effective and Affordable Real Estate CRM in the Real Estate Industry) - http://www.PerfectStormNow.com      Mastery Bootcamp (Joshua Smith's personal Coaching/Mentorship Program) - http://www.MasteryBootcamp.com      REO Mastery University (REO and Short Sale Real Estate Agent Training) - https://reouniversity.wpengine.com/   Connect With Joshua Smith On Social Media:   Facebook - https://www.facebook.com/JoshuaSmithGSD   Instagram - https://instagram.com/joshuasmithgsd/
43 min
Apartment Building Investing with Michael Blank Podcast
Apartment Building Investing with Michael Blank Podcast
Michael Blank
MB 249: Increase Your NOI Through Cell Tower Investing – With Hugh Odom
The most successful real estate investors find creative ways to increase their NOI either by adding amenities for residents or reducing expenses. But there is a new opportunity for property owners that you may not be aware of. What if you could earn more money by leasing out a portion of your building for a 5G cell phone tower? Hugh Odom is the Founder and President of Vertical Consultants, a telecom consulting firm that has advised major corporations such as Walmart, McDonald’s and Disney, as well as government institutions like the Department of Veterans Affairs, the New York Housing Authority and the United States Postal Service. Hugh served as an attorney for AT&T for 11-plus years, and today, he leverages his expertise in the telecom industry to help real estate investors earn additional income through cell tower leases. On this episode of Apartment Building Investing, Hugh joins cohost Garrett Lynch and I to explain why the cell tower industry is like oil 100 years ago, discussing what is driving the need for more cell towers and how lucrative a cell tower lease can be for investors. Hugh shares the do’s and don’ts of negotiating a cell tower lease, describing how it differs from a real estate transaction and what Hugh’s team does to help property owners with the process. Listen in to understand why cell tower investing is a safe bet for the long term and learn how YOU can take advantage of the opportunity to be a cell tower landlord! Key Takeaways Why the cell tower industry is like oil 100 years ago * Long-term agreements to lease land from property owners * Cell companies reach out if property in right location What is driving the need for more cell towers * 5G technology requires additional infrastructure * Densification makes service faster, more instantaneous * From 400K to 1.5M cell sites by 2025 The do’s and don’ts of negotiating a cell tower lease * Don’t treat as real estate transaction (e.g.: market rate) * Do determine value provider will get from space How lucrative a cell tower lease agreement can be for investors * Typically increases value of property by $1M * Renegotiate contract as provider’s revenue from site goes up How Vertical Consultants helps property owners * Level playing field (understand value you’re offering) * Source leases for large commercial property owners How to take advantage of this opportunity in cell towers * Buy properties with existing towers or rights to cell towers * Bring experts in to renegotiate lease How 5G towers differ visually from traditional cell towers * Traditional tower = 150 feet tall, up to 5K ft2 * Traditional rooftop antenna up to 500 ft2 * 5G tower = 50 ft2 with small antenna box The opportunity to become an operator of cell towers * Pay property owners in dead spots for right to lease * Buy for long-term cashflow or flip Why cell tower investing is a safe bet for the long term * Similar to highway system (infrastructure, not technology) * Change out equipment as tech improves Who Hugh serves through Vertical Consultants * Property owners with existing agreements * Owners who’ve been approached by cell company * Hotels, self-storage and shopping center developers Connect with Hugh Odom Vertical Consultants Resources Join the Nighthawk Equity Investor Club Learn More About Michael’s Mentoring Program American Tower Crown Castle SBA Communications Podcast Show Notes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group
41 min
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