This week in Summary
Investing Tip of the week
You can’t get around the numbers on a real estate deal. You have to make sure they are right. But there’s more to a profitable deal than the numbers. There are several intangibles that will affect your profitability and you should consider them as well. I’ll list some of them next week.
Joke of the Week
You know, it’s really difficult to find clean, inoffensive jokes that are also even a little bit funny. So it’s time to introduce you to a part of my philosophy of humor.
1. It is a proven fact that laughter is good not only for the soul, but also for the body.
2. Most jokes are corny and not all that funny.
3. What we find funny falls within the realm of human choice.
4. Choose to laugh at even the corny jokes. You’ll be healthier.
In light of that, here’s this week’s joke: “Doctors have just identified a food that can cause grief and suffering years after it’s been eaten. It’s called a wedding cake.”
Blessing of the week
Disclaimer: I do not endorse the theological significance or accuracy of this blessing. I’m merely passing it on because I thought it was funny.
When we drink, we get drunk.
When we get drunk, we fall asleep.
When we fall asleep, we commit no sin.
When we commit no sin, we go to heaven.
So, let’s all get drunk, and go to heaven!
The Flipping America Show
Episode 536: Single Family Rental Panel, Part 2
August 1, 2022
We continue the conversation with our panel: Moneeka Sawyer, Kim Kesterke and Mark Dolfini are millionaire single family investors and in this portion I ask them how long it will take to become a millionaire while owning single family rentals.
Episode 537: Top Ten Newbie Mistakes
August 5, 2022
I’ve made nearly every mistake in the book. And over the years I’ve watched other people make all the other ones. Today we are going to talk about the Top Ten Newbie Mistakes and hopefully we will help you avoid them. This show could save you $100,000 in mistakes. It could keep you from bankruptcy, it could also ensure that your real estate career is successful. Wow. Or, it might be just another way to fill 30 minutes on your morning commute.
Episode 538: Mobile Home Parks
August 6, 2022
Today we consider one of the most overlooked and underappreciated asset classes in real estate. 17.7 million Americans Live in Mobile Homes which is about 5.6% of the American Population. Frank Rolfe and his partner own about $700 million worth of mobile home parks. He has streamlined the process, refined the methods, written some books, and developed some courses. He will join us in just a few minutes in an interview we recorded with our Flipping America REIA recently. I won’t be able to play it all for you, but at the end of the show I’ll give you a link where you can listen to it in its entirety.
Flipping America REIA News
Flipping America GO is live!
For years I’ve wanted to speed up deal analysis. I’ve written formulas, created spreadsheets, even built my own relational database. I have tried every product out there, spent thousands of dollars and hundreds of hours just trying to save time in the day-to-day chase of that next deal.
Next Wednesday at 12:30 eastern, I’ll be joined by Jared Rossean, the Chief Technology Officer for House Folios. Together we are going to explore all of the functions and features of this exciting platform. I’ve been using it for just a few weeks and I’m fired up about what it can do.
Send your deal for analysis to email@example.com. We are going to look at several.
Click here to register AND to get the replay.
Speaking of replays, I’m not going to send out last week’s video. I heard from several that the video was blurry and unreadable. This is due to my forgetfulness about a Zoom limitation. We will correct that this coming week