This week in Summary
Investing Tip of the week
Last week we talked about intangible factors in analyzing a deal. This week we back up even further to the 30,000 foot view. When you consider an opportunity, you should consider whether there is alignment with your life – your vision, your values, and your current circumstances. There are hundreds or even thousands of potential opportunities that are not necessarily something you should pursue. Why? Because they do not align with your life.
Joke of the Week
Want to hear a construction joke?
I’m still working on it
Blessing of the week
I’ve done some traveling in the past couple of weeks, so here I offer my own version of an Irish blessing:
“As you travel along life’s highways, may the police already have someone pulled over when you get to the speed traps.”
This week's Video: There is NO Housing Crash Coming
NO CRASH coming. Watch Roger break the arguments of what he calls the “click-bait wannabes” on social media that pop up every year saying the real estate market is about to crash. They said it in 2017, 2018, 2019, especially in 2020, again in 2021 and they are at it again. And they are still wrong. The market fundamentals indicate a coming rise in foreclosure volume which will be temporary.
The Flipping America Show
Episode 550 Long Distance Flipping
September 2, 2022
Since 2015 it’s been increasingly difficult to find good deals on flips in our own backyard. So since the cheese got moved we moved along with it. We’ve done flips in every state that touches Georgia and we’ve wholesaled properties in a total of 28 states so far. Today I have a very special guest. Helen Ishii is one of my mentoring students who is now managing her first out-of-state flip. We are going to talk about the process, lessons learned, and some pitfalls.
Episode 551 Rent or Own?
September 6, 2022
Mortgage rates are up, therefore home payments are up. Does it make sense to buy or should you rent? The answer is never as clear cut as you might think. Today I will sort through the issues and help you understand the best answer for you and your situation.
One of the questions we get quite often is a variation of “should I rent or should I buy?” The person asking will usually fill us in on some of the details of their situation which means our recommendations are not always the same. I spent more than half of my life so far thinking that it is never better to rent – always better to buy and build that equity. About 15 years ago I realized I had never challenged that assumption, but it took me a couple of years to get around to devising a way to evaluate the options. Even then, I did it only for my own situation, but I will tell you this: once I took a clear minded look at what it was actually costing me to live in my very nice house, I sold it in pretty short order. I’ve been a renter ever since.
I know it may surprise you to hear that the Flipping America guy is a renter. This is the sensible choice for me right now, both in terms of the financial realities I’m about to share with you AND a few of the intangible factors I will discuss today as well.
The important conclusion for you today is not a one-size-fits-all correct answer. My aim is to help you make an informed decision – one that could change as your life goes on.
Episode 552 Rental Q&A
September 9, 2022
Ok kids, it’s time to open the mailbag and answer some of your questions. Today we are focusing on questions concerning rental properties.
Flipping America REIA News
Roger is on the road this week:
Dead End BBQ
3621 Sutherland Ave, Knoxville, TN
1208 King St #105, Chattanooga, TN
11:30 am – 1 pm
Topic for both days:
Reducing Risk from Rentals
“If risks are like curve balls, risk management is like trading the bat for a barn door. Once you learn how to swing it, it’s tough to miss.”
No one can completely eliminate risk from business – or from life for that matter. The best we can hope to do is understand and mitigate it. Roger Blankenship, real estate investor, best-selling author, real estate coach and host of the Flipping America Show is going to help us understand how to think about the various risks in real estate. He will tell you he’s always been a risk-taker and has made many painful and expensive mistakes in his career. Here’s your chance to learn from those mistakes. Among the topics we will discuss are:
- Why NOT to invest in real estate;
- The types and sources of risks;
- A few ways to quantify risk in a real estate investment;
- How to overcome fear.
Flipping America News
Thank you SO much! Thanks to your help and enthusiasm, Roger’s new book, “Flipping Houses in Ten Days” was a number 1 bestseller by 5pm on Thursday – the release date! Overnight it was the number one book on Amazon for a few hours. If you missed it, you can still pick up a copy (and you should) by clicking here.
A great companion with this book is the online course, FlipStarter, which for a limited time is just $147 (regular price $999). Act now. It’s a limited offer, but once you pay you have lifetime access. Click here. No coupon code needed.
Another big reveal is just weeks away. Stay tuned!
Submit your deals for review, your jokes, and your real estate stories to firstname.lastname@example.org.
Interest rates are going up. As of this writing we expect the feds to raise interest rates by 75 basis points (¾ of 1%). By the time you read this it may have already happened. What is the implication? In short – less affordability of homes, meaning more demand for lower priced homes and longer market time for expensive houses. Roger plans to release a quick video on this to the YouTube channel in the coming week.