Real Estate Investing is SO much more than single family homes. With all of the television shows regarding fixing up houses, it’s easy to forget there are other asset classes. 17% of the American population live in apartments. Apartment investing can be a terrific source of cash flow. Yes they are more expensive and yes the due diligence process is more involved, but it’s not that much more complicated than single family investing. Contrary to popular belief, you do not need to start with single family and “graduate” to apartments. It’s possible to start with apartments! Our guest today, Lance Edwards has been investing in multi-family for many years and now teaches people how to do it. He’s the author of “Big Profits in Small Apartments” and in today’s edition of Flipping America, you’ll learn how you can get your copy of this great book for free.
Plus we will get to some of your questions today. We appreciate the questions – keep em coming!
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Announcements:
- We normally meet every Wednesday and Thursday . No meetings in December.
- 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.
- Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.
News:
- https://www.housingwire.com/articles/fha-fannie-mae-freddie-mac-are-all-now-backing-larger-loans/
- https://www.housingwire.com/articles/where-will-the-hottest-housing-markets-be-in-2020-go-south/
- https://www.housingwire.com/articles/u-s-construction-spending-rises-4-1-from-november-2018/
- https://www.housingwire.com/articles/mortgage-rates-start-2020-well-below-last-years-average/
Topic: Lance Edwards, Apartments
Your Questions
Alphonso, Ringgold, GA, “I have a written a couple of contracts for flips and thought I had good deals, but the hard money lenders I spoke with wouldn’t fund them. They told me they weren’t good enough deals. Can you recommend a different hard money lender?”
Caroline, Huntsville, AL, “I just moved to Alabama from California. I have an LLC in California and own a couple of rentals in Utah. I’m about to start buying rentals in Alabama and Tennessee. Do I need to set up an LLC here?”
Ashraf, Long Beach, CA, “How does one find rental properties in another state? I do not wish to purchase in California.”
Marcus, Milwaukee, WI, “I’m following your lead bro. I just bought a house in Des Moines, IA. I need to get a few things fixed before I seller finance it to someone. How do I find someone over there?”
Dawson, Port St. Lucie, FL, “What is your opinion about buy and hold properties along the Atlantic coast? The money seems good, but I worry about hurricanes.”
Comment Line calls and Questions
Call 404-369-1018, press 1 and leave your message!
Motivational Thoughts for the day
- Educate your children to self-control, to the habit of holding passion and prejudice and evil tendencies subject to an upright and reasoning will, and you have done much to abolish misery from their future and crimes from society.
- – Ben Franklin
Expected Air Date: Monday 1/3/2020
Guest: Lance Edwards