Frequently Asked Questions
Please reach out to me at joe@joecashflow.com if you cannot find an answer to your question.
There could be a crash, but no one knows for sure. And, anyone who tells you otherwise is lying. I made it through the last crash just fine and rentals can actually survive a crash just fine so long as you buy them right. Crash or no, people are always going to need a place to live.
This is one of the most common questions amongst those considering real estate investing. And, getting this wrong, i.e. paying too much for a property, is one of the most common reasons new investors fail. Fortunately, this is what we do at joecashflow.com! We provide Deal Flow Analysis solutions where we do the work for you in helping to determine value. And, we offer additional solutions to help you learn how to leverage the formulas and tools in order to conduct your own analysis.
Great question and another of the most popular questions out there for those considering real estate investing! The good news is, real estate investing offers a multitude of investment options. However, as a result, many would-be investors have no idea which of these many options is best for them. So, this is where we come in! The best real estate investment strategy for you will depend on the amount of time and money you are able to invest as well as age, ability, desire, long-term goals, etc. We are here to help you determine which option best suits your investment needs and goals!
Are you 18 years of age? If so, then you are old enough to purchase property. I have even helped people under 18 learn the business so that they are ready when they turn 18. Being young is a plus and has many advantages when it comes to real estate investing. And, really most any type of investing for that matter! Use your youth to your advantage!
Well, that is up to you. However, you can have success in real estate investing at any age and many do. In fact, I always say, "you don't see a lot of retired successful real estate investors." Why? Because, the money is just too good and its something that can be done at most any age. And, its fun! At least it is for me and the bulk of investors I know. So, many never full retire from it as they are able to do it while still living the life they want to live!
I know the feeling as one of my target markets is very expensive as well. There are different strategies for different types of markets, but an expensive market does not necessarily mean you cannot be a real estate investor. There may be strategies and opportunities in or close to your market. And, there are many other emerging markets filled with opportunity. I'm a form believer in investing locally when possible. However, the bulk of my portfolio is actually now out state.
Besides finding the right property, there is nothing more important than the landlord/tenant relationship - part of which is finding the right tenant(s). This is why we focus so much on helping you understand what we call Landlording 101. Out of all the real estate investors I've seen fail over the last 25 years, most have failed because they don't understand Landlording 101. Your tenants are your valued customers and they need to be treated as such. And, finding the right tenant and doing your due diligence is key. Did you know, I have never had to do an eviction in 25 years! Why, because I follow the fundamental rules of Landlording 101 and I can teach you to do the same.
Most successful real estate investors I know, including myself, started with very little money. Fortunately, there a many ways to get started investing in real estate without having to have tens of thousands of dollars in the bank. Helping you decide if real estate investing is right for you and, if so, which strategy is best is why we are here! Some strategies we will discuss are:
- Real estate partnerships
- REITs
- Hard money and private loans
- Seller financing
- Wholesaling
- Home equity lines of credit (HELOC)
Credit score is very important as it impacts your ability to get a loan, your financing rates, mortgage options and your negotiating power. Those with lower scores can still invest in real estate but your options may be limited and you will certainly pay more for monies borrowed. The good news is, I can likely help. I've reached an 850 score several times and have maintained an 800+ score for the past decade. However, it can take some time to optimize and bring your score up. So, .the sooner you start the better. Let's talk about our Credit Score Optimization program to see if it can help you.
You don't have to use a real estate agent to buy properties. However, I would recommend those new to investing consider doing so. Especially in the beginning, purchasing a property can be very overwhelming. The right agent will help you find the right property for your needs as well as walk you through the entire process to ensure you comply with the numerous laws and requirements. They should also be able to help you get pre-approved for the loan, negotiate the deal, locate trustworthy attorneys, title agencies, home inspectors and contractors, etc. Finding the right agent can take some time but we can provide strategies to help you find the best one!
This is another very common questions amongst those considering real estate investing. And, getting this wrong is another primary reason many new investors fail. Post rent too high and your property may sit vacant for a long-time. Charge too little and your leaving money on the table and the property may not cash-flow. Fortunately, this is what we do at joecashflow.com! We provide Rental Rate Analysis solutions where we with you in helping to determine value. And, we offer additional solutions to help you learn how to leverage the formulas and tools to conduct your own analysis.
No. However, I'll be the first to admit, there are plenty of bad actors in the real estate coaching space. Any "guru" wanting to sell you the "secrets" of real estate investing is likely a scam as, frankly, there are none. The methods we teach are the same tried and true methods I was taught 25 years ago. There are no secrets. Additionally, beware of those touting real estate investing as a "get-rich-quick" plan. It isn't and there is no such thing. Which is why we say "helping the average Joe get rich slow!"
The term "get rich quick" has been used to describe shady investments since at least the early 20th century. Most of these schemes create an impression that participants can obtain this high rate of return with little risk, and with little skill, effort, or time. Get-rich-quick schemes often assert that financial freedom can be obtained by working at home, etc. Joecashflow teaches others how to get-rich-slow. So, we are quite literally the opposite of a get-rich-quick scheme.
If so, email me. I am always happy to answer your questions. joe@joecashflow.com.
Copyright © 2020 Joe Cash Flow LLC - All Rights Reserved. Disclaimer/Privacy
Are you ready for to become a Real Estate Investor?
Investing in real estate may sound great, but not everyone has what it takes to succeed as a Real Estate Investor. Do you?
This website uses cookies.
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.