More and more real estate investors are showing up every day and it's getting more difficult to find good deals. The newbies are paying too much and it looks like the opportunity has played out. Where can we go to find new opportunities and use what we have learned?
What a show we have for you today! Thank you to all of you who are piling on the questions about real estate. Last show we answered some questions about contractors. We didn’t get to them all and to be frank I don’t think I gave enough time to answering Marilyn’s question so we are going to address that one first. If you’re missing out on the REIA meetings, you’re just missing out. A new topic every week, but most importantly the questions. This is what makes the Flipping America REIAs one of the best things you can do. Small groups meeting together, asking their questions, looking for answers, and getting them. It’s people interacting, building friendships, business partnerships, and making things happen. Memberships start as low as $10/month. Flippingamericareia.com.
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Announcements:
- The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
- Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
- FlipCalcs allows you to enter one data set about a property and consider up to six deal ppossibilities.
- “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.
Topic: Contractors
Resources: https://www.nascla.org/page/LicensingInfo
- Marilyn, Chattanooga, TN “I tell my contractor what I want, he says it won’t work and suggests something else, which I think will be ugly. We are talking about removing a wall. I want the beam up in the rafters and he says it’s too much trouble and expense. I don’t want the beam hanging down creating a visual divider. We had a big argument about it. When I came back to the site a couple of days later he was doing it the way he wanted. I lost my cool and yelled at him. He picked up his tools, loaded up his guys and left. Now I can’t get him back and he won’t answer his phone.”
- Peter, Baton Rouge, LA “Do you have a contract I could borrow? I need a template or something.”
- Juan, Pontiac, MI.. “How do you handle change orders?”
- Amero, Toledo, OH “We installed a new air conditioner unit outside. The next day it was stolen. The police don’t seem interested in trying to track this down - I guess they have more urgent things. They did tell me that the person who stole it knew how to disconnect it. What can I do to avoid this in the future?”
- Catherine, Kokomo, IN, “Can’t I just be my own general contractor and hire subs myself?”
- Adrian, Columbia, SC “What do you see as the up-and-coming innovations for real estate investing in 2020?”
- Candace, Orlando, FL “Our town is being overrun by newbie investors. They are paying too much and wholesalers are happy to charge them too much. I still need and want to flip houses, but I need some ideas. It’s getting really tough to find anything worth doing here.”
- William, Long Beach, CA “I want rental income, but I want it from a source that makes sense. Buying here in southern California doesn’t make sense if you want cash flow. What do you suggest?”
- Danny, Pontiac, MI “I have owned shares in a couple of REITs for a few years. They are doing ok, but I wonder if there are other opportunities to invest I don’t know about.
- Sherman, Louisville, KY, “What do you think is the biggest opportunity in real estate in 2020?
- Vincent, Philadelphia, PA, “I just went to my first REIA meeting and WOW. I was stunned by everything people are doing. There are so many ways people are making money I’m truly astonished. My problem is, I don’t know what I need to focus on.”
Comment Line calls and Questions
Call 404-369-1018, press 1 and leave your message!
Motivational Thoughts for the day
“The Road to Success is always under construction.” Arnold Palmer
