Single-Family Rentals: Stay-at-Home Mom on Track to Reach Her Real Estate Goals (Audio)
Play • 38 min

Erica Marston went from stay-at-home mom to real estate pro with a little inspiration from Robert Kiyosaki and Real Wealth Network. She started investing about four years ago, and she now owns ten properties in three states. You'll find out how she did it and what's next in this episode.

www.RealWealthShow.com

 

Self Storage Income
Self Storage Income
AJ Osborne
Pricing a Storage Unit - How to Know Exactly What to Charge to Increase Value
Welcome back everybody to the Self Storage Income Podcast! This is your host AJ Osborne. Today we have the big daddy of them all… unit pricing. If you own, operate, or are looking at investing in storage, have you every asked yourself: What should you be charging for the units at your storage facility? How do you know what the storage market can handle in your area? How much can you increase the rate of your storage units? What’s the BEST price you should charge for your storage units? If you’ve asked these questions before, you’re certainly not alone. You’d be surprised how many storage facilities we come across that are extremely under valued. They’re not charging the rates they could be. This is a great problem to have as an owner or investor, because you can immediately and simply resolve this issue. Not only that, you can increase your revenue by incredible amounts. This is what we’re going to jump into today. We’re going to cover everything unit pricing and help to answer all the questions you might have in regard to pricing units. To do this, we need to be able to accurately measure supply, demand, how to increase storage demand, value of our tenants (even over time), finding your ideal customer, and much more. One super important thing I want you to take away from this episode is to realize that each and every single one of the storage units at your facility is an individual product. I talk more on this idea on the podcast and why this frame of mind is so important. As always, thanks a ton for all your amazing support everybody. Thanks for listening! AJ Be sure to go to Selfstorageincome.com to get your copy of my Self Storage Playbook. This step by step playbook walks you through from start to finish - how to identify a self storage market, how to perform due diligence, how to contact a current owner, and ultimately how to land a deal and purchase a storage facility. You can also find the Self Storage Income Podcast on: * iTunes * Spotify * Stitcher The Self Storage Income Podcast is Sponsored by: Janus International - https://www.janusintl.com/ Store Local - https://www.selfstorage.coop/aws/SL/pt/sp/home_page Live Oak Bank - liveoakbank.com/incomepodcast
32 min
The Remote Real Estate Investor
The Remote Real Estate Investor
Roofstock
Not Ready to Buy a Property Yet? Here’s What You Should Do In The Meantime
Not in a buy cycle? In this episode, we talk about what investors can do in the meantime to prepare for when they are ready to invest. --- Transcript Tom: Greetings, and welcome to The Remote Real Estate Investor. On this weekend wisdom, we got a fun topic, it's what you can do as remote real estate investor, if you're not ready to buy, or not in an acquisition cycle, or just getting ready, all the different activities you can do to build the muscles to execute well, when it's time to buy. Alright, let's do it. All right, so this weekend wisdom is made for people who want to be remote real estate investor, or perhaps they are in remote real estate investor, and they are looking for things to do to help level up when they are just not ready to buy. Or perhaps they don't have the funds to buy something along those lines. So I've got a couple of ideas. But I think I'm going to make it more fun by just putting Emil on the spot. It looks like he's not necessarily listening. Alright Emil, what are some things that people who want to invest but perhaps are not ready to grab funds or whatever reason? How can they build muscles to be a good remote real estate investor without actually buying a property? Emil: I would say so I'm kind of going through this myself on a little temporary pause. I am trying to just network with other people who invest where I invest, either through Facebook groups, BiggerPockets, forums, Roofstock Academy, wherever it is just meeting other people who invest where I invest early in my investing career, I had this very scarcity mindset about real estate investing, like why would anyone want to share information with other investors, like we're all competing against one another. But really, so many investors are so giving and willing to like, talk with other investors, because there's not many of us out there. So when you find another investor, especially if you're a remote investor, it's like, you know, that's your community, that's a tribe people love sharing information and just like talking to each other and getting best practices and stuff. So like, for me, I've been trying to meet people who are local in St. Louis, talking to different property managers, different agents, just people who are local there who can help me, I don't know, get a better label and learn the market, find deals when I'm ready to find deals. So at this point, that's what I'm kind of focusing on. Tom: Love it. It's such a good one. And I think the logical fallacy that there's only you know, so many properties out there, and I need a box, everybody out is just such a logical fallacy. Like there's, there's literally millions of houses out there. And it's a great reason to connect and share. And I mean, I guess there could be situations, right, where you're making the property, you're making an offer on it, and somebody you know, is actively buying in that same area, like then it's reasonable to use a little bit of caution on very specific deals. But generally speaking, that's that's a fallacy. I think that I had as well getting into it thinking that, you know, it's a zero sum game. Michael: It could truly be a win win. I think, if you're thinking about that, and not willing to share information at a high level, like Tom you said, there are some things that of course, you want to keep your cards close to your vest, but at a high level, like if that's what you're thinking, then you're probably doing it wrong. Tom: All right, Michael, things you can do. As an investor, perhaps you're not ready to buy right now, or you're not in the buying cycle. Michael: Yeah, so similar to Emil. I'm kind of a great case study, because I'm not in a buy cycle. Right now. I am gearing up to be in a buy cycle. So right now, my wife and I sat down two weeks ago and are really honing in our finances and our spending and our savings rate, making sure that we are just storing up a bunch of dry powder. I'm also going through several refinances right now getting some equity out in the form of cash and just looking to hold on to that for a little bit. One so I can wrap up this project I've got working on and to just so I can have some more dry powder in the keg to deploy when I am ultimately ready to jump back into that buy cycle. So getting lean and mean and getting things in reserve. Emil: You hold dry powder in a keg? That's a dangerous man. Michael: That's not where you're supposed to hold right? Where do you hold your dry powder? Emil: On the floor? I don't know. Michael: But then there there's powder everywhere. Emil: In a savings account? Tom: On the shelf. Yes. Michael: I'm talking about dry powder in a pirate sense of the word. By the way, you know what the pirates favorite letter is? Emil: ARRR! Michael: No, that'd be the sea! Tom: Oh, Have you guys heard the Wellerman song remake? Ah, the Wellerman is just stuck in my head. It's like a pirate song and it was like a tick tock thing. Okay, here's your fun fact for the weekend wisdom. The wellerman is the person the ship that would deliver pirates their like goods. So like their tea and rum and stuff. And then the Tucker is the person from the whaling ship that had to clean the tongue anyways, sorry, that was it. So the Wellerman Search it up on YouTube while or when you guys will get it stuck in your head, catchy pirate song that was important. Michael: I added that I just love just continuing down this rabbit hole, how you're like, oh, delivering their goods like T and ROM as if that's the only thing that pirates consume. Like, no, they don't eat bread or cheese or meat just exclusively tea and rum, Tom: Listen to the Wellman song and you'll get it. Okay. Michael: Okay. I definitely will. So yeah, that has been my my wife's focus for the last several months here getting this probably over the finish line and getting lean and mean to be able to move forward easily. Some other things just that I think folks can do above and beyond, those two things are just starting to really learn their market and hone in what their buybox criteria look like. So if you are just starting to invest and not feeling like you're ready, yet, there's a number of things you can do. But first and foremost, go get educated, whatever that looks like. So whether that's joining the Roofstock Academy, or having someone hold your hand along the way, who has invested before getting very specific on your criteria, what you're expecting of your investments, and then learning about the different areas, different markets throughout the country, or the world, potentially, that will be able to give you those type of returns or meet those criteria, is what you should be spending the most of your time doing, because that's time very well spent. Tom: Awesome. I'll close this out here. So a couple of points that I was going to add on some of the existing stuff on learning the market super great. So pick a couple of markets that you think are you're interested in, I wouldn't have too many, just because what I'm gonna suggest you do is subscribe on there's a lot of online applications that you can get track, like sales as they're coming across like set boundaries in like similar to your buy box. So like set like the price range. And so you can just see every sold home and every new listing that comes up in that market. That's what we mean by knowing your market is like having a real pulse on what the transactions going on going in and going out are. So a lot of places where you can track that Roofstock is one of them, where you can follow properties on the education stuff. Roofstock is a great spot. There's a lot of good online education Roofstock Academy is great, it's risk free, it's a paid program, but it's full money back if you're not happy or satisfied, whatever. So that'll be my one quick plug for Roofstock Academy, coaching and 50 hours of online yada yada all that good stuff on the education side is to get nerdy with…
9 min
Wealth Labs with Garrett Gunderson
Wealth Labs with Garrett Gunderson
Garrett Gunderson
150. Why Compound Interest May Be OVER-RATED / Ask The Money Nerds
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 this episode of Ask the Money Nerds, Garrett takes a deep dive into the commonly discussed money topic of compound interest. Is compound interest a myth? When is the right time to take money from a retirement plan? Is compound interest the only way to grow your wealth or is it over-rated? Today, we explore how the banks and institutions make money while giving you the opposite advice on how you can grow your money. We take a look at some of the pitfalls with utilizing government sponsored plans and the traps of keeping your money "invested" for as long as possible even if it's not to your long term benefit. *** If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews! Check Out Garrett's Books: Killing Sacred Cows - https://amzn.to/2lMbX1i What Would Billionaires Do - https://wlth.co/yt-garretts-billionaire-book Connect with Garrett: Facebook: https://www.facebook.com/garrettbgunderson Twitter: https://twitter.com/GBGunderson Instagram: https://www.instagram.com/garrettbgunderson LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/ Website: https://wealthfactory.com/
20 min
The Power Of Zero Show
The Power Of Zero Show
David McKnight
My Interview with Former US Comptroller General David Walker (Part 1)
David Walker is a certified public accountant and has spent many years in public accounting. He’s run three federal agencies, two in the executive branch and one in the legislative branch. As the Comptroller General of the United States he was the chief performance and accountability auditor of the US. More recently, David Walker has run two non-profit companies and been a distinguished visiting professor at the US Naval Academy and has been on a number of boards and advisors groups dealing with a number of issues facing the US. Historically, there have been four things that have defined a superpower and the question is whether the US will still be a world superpower by the year 2040. The four main things are global economic, diplomatic, and military power, and global cultural influence. Under these definitions, in the years after World War 2 the US was the only country to qualify as a superpower, but in modern times China is beginning to overtake the US in many of those areas. China has already passed the US in terms of GDP on a Purchasing Power Parity basis. They have more embassies around the world than the US does. China is currently the #2 military power in the world today but they are dedicated to becoming #1, and they are spending a lot of money on it. Culturally, Chinese investors own the largest movie chain in the United States as part of their effort to have a cultural impact. Economics, demographics, and foreign alliances are starting to work against us instead of for us. It’s important that we wake up, learn from history, and heed the lessons from our nation’s founders, and that we start to change course so that we can remain a superpower and make sure our future is better than our past. The reasons that we are currently having problems today is because we have strayed from the values on which the US was founded. We have also not heeded the prescient warnings of George Washington: to avoid foreign wars, not have excessive debt, to avoid regionalism and factionalism. We are actually experiencing the same challenges as the Roman Empire did before it fell. It’s important that we learn the lessons of history so that we can do what is necessary to stay great and ensure greater opportunities for future generations. We were on an unsustainable fiscal path before Covid-19, and now we are in much worse shape. Debt-to-GDP in 2020 increased by 20% which is the most important metric we need to be paying attention to. It’s clear that additional legislation will be passed now that Biden will be President and the democrats control the House and the Senate. We will defeat Covid-19 but once we do, we need to put a mechanism in place that will allow us to make the tough choices that will get the debt-to-GDP ratio to a reasonable and sustainable level over the next 10 to 20 years. Prior to Covid-19, the Social Security and Medicare trustees estimated that the trust funds were supposed to go to 0 by 2035 and 2026, respectfully, but because of the economic effects of Covid-19, the years are now 2031 and 2023, respectfully. This means that revenue will still be coming in but any bills would have to be paid out of those funds. In the case of hospital insurance, payments will have to be cut 10-15% immediately and across the board, with cuts of 20-25% to Social Security benefits. All the more reason we need to recognize reality and start making the tough choices now. What are the implications of having debt balloon out of control? We have passed the all-time record for Debt-to-GDP which was previously set after World War 2. Unlike then though where we rapidly decreased Debt-to-GDP dramatically after the war, we are now adding Debt-to-GDP and plan to add more. Currently, our interest expense is not increasing because we are not experiencing regular market conditions. The Federal Reserve is buying significant portions of US debt and artificially holding down interest rates, which isn’t sustainable. The other problems stem from the proponents of Modern Monetary Theory, a theory that runs contrary to history and long established economic history. Politicians are already fiscally irresponsible, the last thing you want to do is give them an excuse to be even more fiscally irresponsible. History has shown that when debt as a percentage of the economy reaches unsustainable levels, it has an adverse effect on economic growth and this has a knock on effect on personal opportunity. Over 70% of the national budget is already on autopilot, the remaining 30% covers all the governmental responsibilities envisioned by the founding fathers. Modern Monetary Theory is dangerous and fundamentally flawed. The Biden administration will probably not adopt the theory, but even if that’s true we still need to make tough choices on spending and revenue. The problem can not be solved solely by controlling spending and economic growth, revenue will have to go up because of the reality of compounding and math. A wealth tax will enter the conversation, but it’s not possible to solve the issue only by taxing the rich. There is no question that the tax base will have to be broadened and that most individuals will have to pay higher taxes. One of the most important things to understand is that tax rates will never be lower than they are now. Assuming you will pay lower tax rates in retirement is no longer a viable plan. Tax rates may still have to double in the future, the longer we wait to make changes the more likely that’s going to be the case.
24 min
Breakthrough Real Estate Investing Podcast
Breakthrough Real Estate Investing Podcast
Sandy Mackay & Rob Break
Episode 135: Analyzing Markets with Nickey Calford
Here’s What You’ll Learn in our Interview with Nickey: * Starting on a low budget with the worst of the worst * Going from a stable career to a full time investor * Analyzing cash flow versus appreciation and equity gain * Investing in London, Ontario * And much, much more! Nickey Calford has developed a reputation in the London, Ontario real estate market for helping investors maximize their equity. She assists her clients in realizing the full potential of each property she represents. The recipient of numerous awards relating to sales and investment properties, Nickey possesses a natural repertoire of masterful skills that set her apart and enable her to expand potential investment opportunities. The daughter of a real estate lawyer and an interior designer, Nickey was raised in a Franklin Lloyd Wright home where her passion for architecture and design blossomed. Dinner conversations usually surrounded the topic of real estate investments, as her parents loved to renovate houses. So, it's no wonder that by the time she was 21, Nickey had purchased her first investment property to flip. Over the next 18 years, Nickey purchased, renovated, and flipped 19 homes for profit. Equally comfortable tearing down walls during a reno, negotiating with high-level executives in a boardroom, or helping first-time homebuyers realize the potential in their property, Nickey guides each client through the intricate process of real estate. Nickey works with property investors and first-time homebuyers to ensure they maximize equity to build a retirement and not just a roof over their head. And she has no qualms of putting her money on the line when working with the decision-makers for estate sales, so they get the best return. Nickey holds a diploma in Business Marketing and a Certificate in Property Management. She's a Certified Home Stager and sits on various condo Boards throughout the city & when she's not training other Realtors across Ontario, she's volunteering as a ski patrol team lead at Boler Mountain, organizing charity golf tournaments, or spending quality time with her daughter. Get In Touch With Nickey: nickeycalford@kw.com 519.636.5097 Facebook Instagram Twitter
53 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
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