• Garland Real Estate Investing & Real Estate Financial Planning™ Podcast

  • By: James Orr
  • Podcast

Garland Real Estate Investing & Real Estate Financial Planning™ Podcast

By: James Orr
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  • Summary

  • Learn all about investing in real estate in Garland, Texas with a combination of real estate financial planning and modeling with numbers specific to Garland plus syndicated, more generalized recordings of live and pre-recorded real estate investing classes (not all specific to Garland).
    © Real Estate Financial Planner LLC. All rights reserved.
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Economics Leadership Personal Finance
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Episodes
  • Secrets of Tenant Screening

    Secrets of Tenant Screening
    Oct 11 2024
    Tenant screeing... an important, but often overlooked skill. If you're going to manage properties yourself in Garland, you're going to need to know how to screen tenants. This class is Module 4 of 46 in a series called Real Estate Investing Secrets. Topics covered in this module include: What are the 5 steps in the property management process?What 10 things should you always check—and why—when preparing a property to rent?The Tenant Screening Process... in 5 easy steps.How to think about renting your property to get in the right mindset.Why you should be deliberately charitable... if you choose to be charitable... outside your rental property business.How does the initial call with your prospective tenants set the tone for your entire relationship?How to define the landlord-tenant relationship.What is it important to answer your phone when marketing to find tenants and what this says about how your tenants are likely to respond to you as a landlord.Why is it critically important to screen tenants on the first call and to not meet unqualified prospective tenants at your property?The magic words for getting a tenant to open up to you on the phone with your questions.What are the 10 critical initial screening questions to ask tenants on the phone before scheduling a time to meet them at the property?What are the different ways to show tenants your property?How should you prepare for showing the property to prospective tenants and why the first thing is critically important if you want to be paid on-time from your tenants?How to show the property to your tenants... and the one thing at the showing that will clearly demonstrate to you how your tenants are likely to take care of your property.The counter-intuitive secret to following up with tenants after showings...How to collect an application from tenants... especially if you’re not going to pay for a web-based service.What must you require from your applicants to be able to process their application... and how to deal with a tenant not having everything.The critical things you need to double check as you accept the application to process... and what to do if the tenant comes up short.Who provides an application and application fee... and why?How to get tenants to only apply to your property when considering other properties.The critical things you must get from your tenant—beyond security deposits and first month’s rent—to help protect you and help ensure you get paid.How do you deal with a tenant that provides incorrect (false) information on an application?How do you get an application and paperwork to use for your rental business?The one thing you need to do to avoid hefty fines, lawsuits and possible jail time.A surprising perspective on something that affects over 65 million Americans, but could open you up to liability, lawsuits, and possible jail time... and how you should properly deal with it.Tips and best practices for working with disabled applicants, service animals, emotional support animals and more.A powerful, inexpensive strategy to uncover bad apple tenants before you rent to them.Example application evaluation criteria and why it is critically important to use written, objective criteria when approving an applicant.A sneaky little way to get an informal co-signor on your tenants voluntarily to increase the odds of you getting paid if your tenant is unable to pay.Examples of common application criteria overrides and how you might handle them... and one that I’d encourage you to make an automatic disqualification.An example reservation deposit agreement, how to use it and when to use it.How do you notify tenants when they’re approved? When they’re not approved? When MUST you—by law—send them a letter telling them they’re not approved?How do you deal with tenant screening on a property you’re buying with an existing tenant?Plus much more... Check out the video and additional resources related to Secrets of Tenant Screening. 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/spreadsheetImprove 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 Garland real estate investor podcast? Book a free consultation to discuss.
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    1 hr and 24 mins
  • Secrets to Marketing to Find Tenants

    Secrets to Marketing to Find Tenants
    Oct 4 2024

    If you're going to manage properties yourself in Garland, you're going to need to know how to do the marketing to find tenants.

    This class is Module 3 of 46 in a series called Real Estate Investing Secrets.

    Topics covered in this module include:

    • The 6 “Property Management Mastery” modules included with this course.
    • How to change your thinking about renting a property to a tenant that can improve your marketing and tenant screening.
    • How early should you start marketing your property for rent? Why start then? What are the advantages? And, what must you do if you cannot start then?
    • A Comprehensive Tenant Marketing Plan
    • How do you deal with marketing for a tenant when purchasing a property to rent immediately?
    • What are Fair Housing laws and why are they critically important for you to understand and follow them as a landlord?
    • Do you need to do all the marketing we suggest? What if you could only do 1 thing? 2 things? 3 things? Includes a discussion of the Pareto Principle (80/20 Rule).
    • The top marketing sites for marketing your property for rent.
    • To syndicate or not? A brief discussion.
    • The importance of spying on your competitors and what specifically to look for and how to utilize what you discover.
    • What to include in your ad? And, how to think about your marketing.
    • Why hiring a professional photographer… even if you have an amazing camera on your phone… is strongly encouraged and the unexpected reasons behind this suggestion. Examples of amateur versus professional photos.
    • How to increase the quantity of your tenant leads. How to increase the quality of your leads. When to use each strategy in your business.
    • What’s one thing you need to include in your ad and understand for each step in your tenant screening process?
    • How to utilize yard signs and directional signs to generate tenant leads.
    • What should you use YouTube for when marketing for tenants? And, how to do it.
    • What should you do with flyers for your rentals?
    • How to use postcards to neighbors and when do we typically use them when marketing properties?
    • How do we suggest using Facebook for marketing your properties?
    • A method to market your property that may or may not be available in your market, but why you should use it if it is available.
    • What are the rare circumstances where we’d utilize Open Houses to fill rental vacancies?
    • When should you create, maintain and use a Buyer’s List when marketing properties?
    • Plus much more...

    Check out the video and additional resources related to Secrets to Marketing to Find Tenants.


    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 Garland real estate investor podcast? Book a free consultation to discuss.
    Show more Show less
    1 hr and 2 mins
  • Secret Market Stats

    Secret Market Stats
    Sep 27 2024
    Having a solid understanding of historical market stats is important for investing in real estate in Garland. This class is Module 2 of 46 in a series called Real Estate Investing Secrets. Topics covered in this module include: Should you try to “time the market” using data to increase profitability?How much are properties selling for? Do property values always go up? How much have properties gone up per year since 1965? What would your annual ROI be on a property using that appreciation rate if you put 20% down as an investor or 5% down as a Nomad™ or house hacker?If we adjust for inflation, how much have properties goes up in value per year? Why is this not a truly apples to apples comparison and what can we do about it?What would a typical owner-occupant primary residence rent for? How has that changed since 1975? What is the rent equivalent appreciation rate over that period? And, why is that not a fair and valid comparison?What’s one measure of housing affordability? And, does it prove houses are less affordable today than they were between now and 1980?What are new construction properties selling for? How has that changed since 1960?How many new single-family homes are for sale in the US now and going back to 1960? How many have sold? What can we determine from this?What’s a stat that combines both the supply of properties for sale and the demand for properties into one powerful single number? How do we interpret that stat? How has it changed between 1960 and now?How many properties are occupied by owner-occupants? How many by rents? How has this number changed between now and 2000?What percentage of properties are vacant and for sale? What percentage are vacant and for rent? How has this number changed between 1960 and today? How does this relate to your estimated vacancy rate on my personal rental properties?What have 30-year fixed rate mortgage interest rates done between 1960 and today? How does that impact you as investor today? Why is this a perfect example of desirably asymetric risk and how to utilize it as a real estate investor?What have typical mortgage origination fees and discount points been since 1960 through recent times? How does this directly impact you as a real estate investor today?What percentage of households in the US are homeowners? How has that changed since 1960 through today? What does that mean for us as real estate investor landlords?What is the median household income in the US—adjusted for inflation? And, how has that changed since 1980?What percentage of household disposable income is spent on debt service and, separately, how much is spent on mortgage debt? How to think about this? How does this strongly play into favor for real estate investors that hold properties and mortgages for long periods of time?How much equity do US households have? What percentage of property do they have as equity and how has that changed since the 1950s. Can we see as our nation’s philosophy on housing debt has changed over the last 70+ years? What is our current position on property equity?How have home prices changed (adjusting for inflation and not)? How often have property values declined year-over-year? How frequently—and by how much—have property values increased? What lessons can we—as real estate investors—take away from that to help us make better decisions?A discussion of a great chart by John Wake showing how the amount you can borrow while keeping a $1,000 per month mortgage payment changes with interest rates over time.How does the cash price, the inflation adjusted cash price and the monthly mortgage payment price of a property compare to a property in 1990 for all months through 2024? What lessons—as real estate investors—can we draw from this to make better investment decisions?How has per capita (per person) personal income in the US changed from 1990 through 2022?How many single family homes and apartments (5+ units) have we been completing each month since the mid 1960s through today? Why might this be a really good early signal depending on your desired real estate investing strategy?How many houses are completed by region of the US?What is a great way to measure how swiftly a real estate market is moving? What’s normal? What do we see every year? What do we see over time?How many times is a typical house marketed for sale shown? How has that changed over time? What are we seeing now?How have rents been changing? What is normal? What are we seeing lately? How does rent impact cash flow and why is this to our significant advantage as real estate investors?Plus much more... Check out the video and additional resources related to Secret Market Stats. 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/spreadsheetImprove Cash Flow: Book a consultation to improve cash flow using our proprietary 88 ...
    Show more Show less
    1 hr and 26 mins

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