This week in Summary
Investing Tip of the week
Want to change $1,000 into $20,000 inside your self-directed IRA? Do an “option swap” with a fellow investor. I wouldn’t recommend making a habit out of it, but it may be something to do occasionally. Speak with your custodian about it – they all have differing opinions.
Joke of the Week
Tell Beth Merry Christmas for us.
She doesn’t celebrate Christmas.
OH, yeah, I forgot.
She’s a Jehovah’s Witness
Right. I remember. Ok, well tell her knock knock.
Blessing of the week
May you live long,
And rate a mansion in heaven.
The Flipping America Show
Episode 542: The NFL or Real Estate
August 15, 2022
Zillow published a quiz recently that asked questions about the NFL, certain celebrities and real estate. The sad fact is, Americans know more about the Kardashians than their own property. What can we do? Bill Gross is a licensed real estate broker and probate expert from Los Angeles. He joins us to talk about the Zillow quiz, the lack of financial and real estate literacy and the failure of the American media to challenge incorrect notions put forward by our elected officials.
Episode 543: Ten Ways to Turn $1,000 into $10,000
August 17, 2022
If I handed you $1000 what would you do with it? What if I could show you how to turn it into $10,000 in less than a year? That would be great right? In this episode, I describe TEN different ways to do this. That’s “great” times ten, right? Is this a fantastic show or what?
Episode 544 Introducing GO, the Deal Analyzer from Flipping America
August 19, 2022
Have you ever wished you could just type an address into your computer and let it tell you whether or not it would be a good investment? That day has arrived. 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.
Thanks to a partnership with our new friends over at House Folios, we are ready to introduce Flipping America GO. I interview Jared Rossean, CTO of House Folios and he demonstrates GO.
Flipping America News
When you see the green light, GO! How much simpler can it get? Head to FlippingAmericaGO.com, create your free trial account, add a property, and watch the program tell you whether this house would make a good flip, rental, short-term, and more. You can adjust the criteria, drill down into the data, subtract and add comps as needed, create a pro forma, and even apply for lending through the app. When you see the green light, GO.
Submit your deals for review, your jokes, and your real estate stories to firstname.lastname@example.org.
Flipping America REIA News
Remember we are out this week. We will resume on Aug 31 and meet weekly until the day before Thanksgiving.
We are planning to do deal reviews each week. Deadline is noon Tuesday for consideration. Send in your potential deal – perhaps someone will buy it from you right there on the call!
Do you have a real estate story to share? It can be funny, poignant, heartwarming, or heroic, or some combination of that. Keep your submission short – maybe 2 paragraphs. If our editors see potential, we will get with you for more details.
The Housing market is officially in recession after 8 straight months of decline. The National Association of Home Builders and Wells Fargo produce a Housing Market Index, which measures a number of factors. Here are a few from the most recent report:
Current Sales Conditions: Down 7 points
Sales Expectations 6 mo: Down 2 points
Buyer Traffic: Down 5 points
If you want to dig in, click here.
What does this mean? Since 2014 we have been in a great sellers market. We are now heading into a buyers market but we are not there yet. . Prices of land and materials are not going down, but home prices are backing off anyway as sellers adjust to decreased demand.