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CHANGE OF SCHEDULE DUE TO COVID-19... That's not just the title of this episode, but also an announcement. Because I'd rather not talk about Corona-virus week after week (and some other reasons) - I'm temporarily changing the schedule of the show from a weekly Tuesday release, to be a little more flexible and random. For the next month (or few), I'll still be releasing episodes, but maybe not weekly (at least once per month) - and not always on a Tuesday.So I cover my reasons in the episode (there is some content here, not just the announcement) - and among them is that I'm now my son's school teacher, like all you other parents out there. Well, my days for packed enough to begin with, and I already worked from home. But now my son is here with me each day with schools closed, so much of my attention (and time) goes to him these crazy Covid-18 days. Not getting a lot done as a result.So that, and not wanting to just speak about the Corona-virus elephant in the room on each show - has me seeking to change things up a bit. I also mention during this episode, how content I put out just 5 shows ago, was invalidated a mere week later by Covid-19 - so I want to put out some more timeless content, which will take me a bit more prep time than what the weekly schedule permits while also teaching 8th grade along with all else that I've got going on.So I'm going to take some time to be my son's best day, improve my businesses, get some of my on-going projects done, still put out content for the show (just not weekly for a bit) - and we'll get through this pandemic soon enough. Regardless, the show will go on - and I think it will end up even better as a result.

Podcast Episode 55

Your home is now the center of your universe - and likely (hopefully) some of your favorite people are there with you for these past weeks and those to come. And thankfully with technology being what it is today, you're likely able to connect easily with those loved ones who live outside of your home. Also thanks to technology (depending on your specific job) - your also likely to be rather productive and continue working from home. But have you equipped and stocked your home with all your comfort items? Do you need your daily cup of coffee, and so your venturing out to get your daily Star Bucks fix? Or can you make it right there in your home with your Keurig or other deluxe home brewer? I've certainly got mine.And we've all got the large flat screen TV's with Netflix, Prime, Hulu and all the myriad of other streaming services. Or even if you've got regular cable or satellite - you know that you're sharing someone's streaming login - right? Be honest! However you handle it, your entertainment needs are set.And you've also stocked up on not just a ton of toilet paper, but you've got weeks worth of your favorite foods and drinks. I heard that alcohol sales went up by over 60%. So we're sipping on a little something while at home.And so in this episode of the... and Landlord Rental Real Estate Investing Podcast - I talk about the home, and how it has become the center of our universe. And then what that may mean for the future. What does it mean to be a Landlord in a time when it seems the government has positioned itself to start covering the expenses (including RENT) for those who now cannot work due to no fault of their own.And what will this mean for the future once this concept takes hold? Well, that's a bit political - and so I explore why I am willing to move forward with purchasing properties, even now amid all this economic uncertainty. I'm buying now (while I can), but with lending terms changing daily, that ability is quickly coming to an end. So I'll be working to get set for buying even more properties, once things start to open up again. Because I want to own as many properties as possible once the government starts paying everyone's rent - or whatever becomes the system to make sure that we're not in this same virus inflicted financial crisis all over again.

Podcast Episode 54

Today is March 31st... One day from now is April 1st, when RENT IS DUE in the USA. But on this Aprils Fools Day - will Tenants even be able to pay their rent? People have largely been unable to work for the last two weeks. And more people than you may be aware are working from paycheck to paycheck. And those government relief checks have yet to arrive. So what's it going to be between April 1st to the 5th?On BiggerPockets.com is a video and guide to Landlords at:<a href="https://www.biggerpockets.com/blog/tenants-unable-pay-rent-landlord-advice">https://www.biggerpockets.com/blog/tenants-unable-pay-rent-landlord-advice</a>- as to how Brandon plans to handle the likely inability of some Tenants to pay rent next month, and his suggestions for doing the same.Brandon also put out another video at:<a href="https://www.biggerpockets.com/blog/coronavirus-letter-to-tenants-from-landlord?utm_source=newsletter">https://www.biggerpockets.com/blog/coronavirus-letter-to-tenants-from-landlord?utm_source=newsletter</a>- containing the letter that he has sent to his Tenants in advance. Now for me, I have a similar version of this letter ready to go out, but I'll not be sending anything in advance. Because like I mention in this episode of the... and Landlord Podcast - to send something in advance about NON-payment of rent, suggests that it is OK to NOT pay rent.... So "No Thanks" from me on that one.Now as I mentioned in last week's episode, I'm very glad that about 1/2 of my units are Section 8 - so I know that I'll at least be getting that money this week. But I also suspect that multiple Tenants may be unable to pay in full (or at all) - which may even include the Tenant's portion from some of my Section 8 Tenants.Starting tomorrow (if not already), Tenants may suddenly find themselves with substantially more in expenses and bills, than they can cover with what may be significantly reduced (or NO) income. When you have to choose between food, medicine, utilities and rent - rent rightfully is not first in that list of priories. So, will Tenants be able to pay their rent for April?This is all uncharted territory - so we'll each have to take it one step at a time. So checkout this 53rd episode of the Podcast to get my take on how this matter can be addressed - of when your Tenant's can't pay their rent (arguably through no fault of their own). Just remember - "People Before Profit"; but also, be no one's April Fool.

Podcast Episode 53

April Fools Day is a little more than a week from now. But what that day means to me, is the same as any 1st of the month... It's the day RENT is due. But on this April 1st - the joke may truly be on me (and all Landlords)... Because there may be no rent coming in due to COVID-19.But this episode of the... and Landlord Rental Real Estate Investing Podcast is about how half of my rental units are occupied by Tenants who have Section 8 Vouchers. Thus, a portion of my monthly rents come directly from the Government. This means the joke won't be completely on me. At least I'll have some amount of guaranteed rental income. But for my non-Section 8 Tenants...The World has essentially shut-down. Most businesses are closed (or greatly reduced), so those workers aren't getting their normal paychecks. Some businesses are running reduced hours and altered workloads, but even those must often layoff workers in a situation like this. You can't keep all those employees on payroll when there are no customers. And if those now unemployed (X-employee's) are your Tenant's - how are they going to pay rent to you?And then compare this to those who are invested in short-term rentals (AirBnB). No one is travelling - so they have basically lost 100% of their rental income. Yet mortgages and leases remain due for payment. Maybe payments will be waived or some sort of forbearance will be granted. But in this episode of the Landlord Podcast, I contrast my situation with Section 8 Rentals, to those who have Short-Term (AirBnB) Rentals.Just saying... Right now, I'm happy to know that I'll have some rental income in April. And I think I'd be freaking out right now if I was singularly and all-in on AirBnB.

Podcast Episode 52 

When the Coronavirus hit, as with most things, I had jokes... I posted on FB the question of if this might be the Zombie Apocalypse virus or maybe the Planet of the Apes virus - and what should be my primary weapon of choice in either case. For instance, should I go with a crossbow or the shotgun to take out the resulting Zombies or talking Apes.Jokes aside, while this is not that level of crisis, it is a challenging time none the less - and we could be on the verge of an economic recession of epic proportions. And while I certainly do not intent to make lite of being prepared with food and other items for the household - it occurs to me that while some people are rushing to the stores to buy toilet paper (among other things), others are buying the discounted assets (or preparing to do so) - that result from apparent crisis situations like this.So hence the title and topic of this 51st episode of the... and Landlord Podcast - "The Rich Buy Assets, While the Poor Buy Toilet Paper". Fortunes are often made when there's fear, panic or even blood in the streets. And there is a quote that says "Observe the masses, and do the opposite." - well the masses appear to be focused on buying things like toilet paper. When they should be looking to buy the discounted assets that are certain to result from an economic downturn or recession.The Stock Market is down big-time - but another way of looking at it, is that the Stock Market is having a sale. Real Estate is also likely to be on sale soon, as all-time low interest rates will increase purchasing power. We may also enter another round of short-sales and foreclosures as another economic downturn (or full on recession) causes financial stress for millions.So I recorded this episode just to get you thinking - that while you certainly need toilet paper and other household items to get through the sort of thing we're experiencing now with this virus - you also need to be thinking about how you're going to come out the other side better off. Because the rich are buying assets while the poor (and middle class) are buying toilet paper.

Podcast Episode 51

Podcast Episode 50

Let's Talk... Business, Finances &amp; Wealth. But not just in this 49th Episode of the... and Landlord Podcast. I'm now ready (and now have the location) for an in-person local meet-up. So here I announce that starting on April 6th (and the 1st Monday of each month thereafter) - we'll have a monthly meet-up to talk about (among other things)... Business, Finances, Wealth Creation, Mindset - and so much more about MONEY.The location? It will be at Rivals Barbershop in Downtown Durham, North Carolina (727 N. Mangum Street - Suite 100). And Rivals Barbershop is my latest business endeavor... A partnership with Professional Barber (Khedron Mims) in a Sports Themed Barbershop.NO - I'll not be cutting anyone's hair! But in line with the purpose of this monthly meet-up - I partnered with Khedron in Rivals Barbershop because its another business that will create additional passive income for me. It also gives me the chance to lend my business knowledge and expertise to aid Khedron in creating passive income for himself.So what better place to come together on a monthly basis to discuss helping others to do the same. If you've ever desired to start a Business; have a Business that you seek to grow; want to get into Real Estate (Flipping, Wholesaling, Rentals); or you just want to make more Money; improve your Finances and grow your Financial IQ - this is the place you need to be each 1st Monday of the month at 6:30PM.So I use this 49th Episode of the... and Landlord Podcast - to announce both my involvement with Rivals Barbershop; and also that it will be the location of my monthly meetup. Speakers will include myself, Khedron Mims, and Garrett White (from Episode #17). And as we go forward, we will include other speakers where the value for your time will be rewarded by a factor of 10.But it won't be the sort of thing where you can come to a meeting and then have nothing to do for a month until the next meeting. No... You'll have actions to complete, books to read, changes to make in your habits, etc... So don't come if you're not willing to take actions and make changes in your life.

Podcast Episode 49

Owner's Property Insurance is not the only type of Insurance that you need to consider... Another is Renter's Insurance. And do you / should you require your Tenants to obtain Renter's Insurance? That's the question being asked and answered (from my point of view) in this episode of the... and Landlord! Rental Real Estate Investing Podcast.Here I go into details as to some of the ways you're protected by having Tenant's obtain their own coverage in the form of Renter's Insurance. Not least of these protections is that the mere fact that you've impose this requirement will result in certain prospective Tenants (who might have been problematic) - self-eliminating from consideration of occupying your property in the first place. Putting reasonable (and LEGAL) barriers to Tenancy in place will help to get you the best Tenants - and a Renter's Insurance requirement can be just one means of doing so.Much of what we discuss on this Podcast is about how to be the best Landlord you can be - with the fewest headaches. Well, having a Renter's Insurance requirement for Tenants can be one of many means to that end. Renter's Insurance is a protection not just for your Tenant, but for your property, for YOU and your LLC - paid for by your Tenant. What's better than a benefit for you that is paid and provided by someone else - and for which they benefit as well?

Podcast Episode 48

I LOVE owning Rental Real Estate and being a Landlord - however, maybe it's not for you... But that doesn't mean you cannot be a Real Estate Investor - as there are ways of doing so without having to buy Real Estate and becoming a Landlord. One such means is Real Estate Note Investing. And so who better to have on the show than Scott "The Note Guy" Carson - to cover the basics of Investing in Real Estate by obtaining the Note.Scott Carson joins us for an episode of the... and Landlord Rental Real Estate Investing Podcast - to discuss both Performing and non-Performing Note Investing. So what is Note Investing? What is a "Performing" versus "non-Performing" Note? Well listen to Scott answer these questions - and many more about Real Estate Note Investing in this 47th episode of the... and Landlord Podcast. You can also watch the video of the interview below... <hr><div class="se-component se-video-container __se__float-"><figure style="height: 432.219px; padding-bottom: 432.219px; width: 768px;"><iframe src="https://www.youtube.com/embed/RLXTRVwwCF4?feature=oembed" data-size="768px,432.219px" data-align="" data-file-name="RLXTRVwwCF4?feature=oembed" data-file-size="0" data-origin="768px,432.219px" style="box-sizing: inherit; position: absolute; z-index: 2; max-width: 100%; inset: 0px; height: 432.219px; width: 768px; margin: 0px auto !important;"></iframe></figure></div><figure style="margin: 1em auto; box-sizing: inherit; display: block; overflow-wrap: break-word; clear: both; position: relative; z-index: 2; color: rgb(64, 64, 64); font-family: Roboto; font-size: 18px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><figcaption>Video Interview: Ep. #47 - The Note Closers Show Podcast Host - Scott Carson</figcaption></figure><hr> For me... I've got a lot going on right now, but I will certainly get into Note Investing at some point. And it never hurts to have additional ways of getting a property and/or more monthly cash-flow. And when I'm ready to enter this area of Real Estate Investing, I'll certainly be reaching out to Scott for guidance. He teaches this business, so its certainly worth visiting his site at:<a href="https://weclosenotes.com/" target="_blank" rel="noreferrer noopener">https://weclosenotes.com</a>- and listening to his<a href="https://weclosenotes.com/note-closers-show-podcast/" target="_blank" rel="noreferrer noopener">Note Investing Podcast</a>.

Podcast Episode 47

The cover-art for this episode has multiple paper airplanes flying - but one is a different color and is soaring higher than the others. You could consider that one to be the successful attempt at flight; whereas the others failed. Well, this is what Marketing for Deals is like. Each paper plane represents a different marketing method, channel, message or attempt - and you may have no idea which one(s) will take off and soar high into the air with success; versus which will fall to the ground in failure.To be successful in the business of Residential Rental Real Estate Investing, you must be able to find an ample number of distressed properties that can then be obtained for below there typical value - even after accounting for the rehab required. And to do that, you must be good (if not great) at Marketing for Deals. And that's what this episode of the… and Landlord Podcast is all about. Marketing for Deals and creating your Marketing for Deals Machine.

Podcast Episode 46

One of my favorite quotes is... "Just because I'm paranoid, doesn't mean they're not out to get me!" - so I'm primed to be one who is paranoid about and fears the risk of proceeding in business (especially Rental Properties) - without having an LLC in place for liability and asset protection. "What if someone slips and falls (or otherwise gets hurt) on one of my properties?""What if there's a fire?""What if there's an issue with CO2 or Radon?""What is someone dies!?"If you're a Landlord and you've not asked yourself these exact questions, then you've certainly expressed some collection of concerns that if they happened - you feared ending up in court. And so you certainly wanted to have the best protections in place, such as having your business established as and properties held within an LLC. Is this valid protection for legitimate concerns or just unfounded paranoia? <hr> Well, I actually believe BOTH are true. You certainly want to have proper protections in place for liability and asset protection. But this episode of the [... and Landlord!] Podcast is about how far too often, those who are new to business and Real Estate Investing are encouraged to spend time (and even more money) to setup an LLC (and sometimes a complex system of LLC's).This adds cost, often complexity and may waste time. Not that an LLC (or a few) is unnecessary, but LLC's are pitched as step 1 and the first line protection against law suits for those in business - when really an LLC is nearer to being the 4th line of protection. There are other things that come BEFORE having an LLC that will provide protection and potentially keep you out of court.So on this episode, I discuss those other things that provide protection to maybe lessen the obsession with LLC's. As you progress, you will reach a point of needing an LLC (maybe several) - but you don't need it from day one, and you certainly don't need to spend thousands on some complex out of state LLC setup from day one (if at all).

Podcast Episode 45

In this episode of the... and Landlord Podcast, I speak about RENT increases here in Durham, North Carolina. And one example I give is that of my own... The 2 Bedroom Duplex unit that I lived in for 4 years when I was last a renter myself (from early in 1998 to the start of 2002), where my rent was $625/mo (increasing to $645 in the final year). Well now here 18 years later, that exact same 2 Bedroom Duplex unit (of ~1,000 SqFt), is suggested by Zillow and Rentometer to have an average rent value of $1,381/mo, with the median rent for 2 bedroom homes in the area being $1,450/mo... That's crazy! If correct, it means that rents here have more than doubled over the last 15 years or so since the boom and bust occurred in Real Estate.But think of that... This Duplex is nearly 20 years older than when I last lived there. And I drove by it recently, and it doesn't look like anything major has been done to update it or improve its appearance or condition. If the same people / company owns it now as then, they have likely paid it off by now (or are near to doing so). So they are not only getting more cash-flow from this now 35 year old property than before due to greatly increased rents, but also because they may no longer have a mortgage to pay from those rents.What is better than Rental Real Estate Investing!? You end up with what is essentially a FREE house - because the tenants pay all the bills and expenses. You get cash-flow for life. And that cash-flow greatly increases over time due to the mortgage pay-down / payoff; and as result of annually increasing rents. Not to mention the incredible tax benefits and the likelihood that the property increased in value despite having gotten older. And did I mention the tax benefits? You get to depreciate the value on paper as it actually appreciates in real value... Wow - Seems like you'd go to jail for that, but its allowed!

Podcast Episode 44

So I'm a sci-fi geek, which means I believe (even hope) that life exists on other planets. They might be on their way here right now to end life on this planet as we know it. That could mean to wipe us out, and steal our planet's resources; or even to make us their food ("To Serve Man") style - as is the typical sci-fi result of "Alien Invasion". Or a more optimistic take on it, could be that they end disease and even aging itself - share their knowledge, technology - and take us to the stars. I say all of this because...This 43rd Episode of the... and Landlord Podcast is about Optimism versus Pessimism - and how a person with an Optimistic outlook over the past decade (since 2010) had a much better chance of profiting financially than did someone with a Pessimistic eye towards the future.Here I go into some of the many reasons a person might have legitimately had for being a Pessimist. But how resisting that tendency could have been very profitable - especially in Rental Real Estate Investing, or even Stocks. I explain how I'm an optimist in most things... I'm not expecting the Zombie Apocalypse. I'm not expecting an Alien Invasion. Not looking for a meteor to strike. Don't expect the government to fall or the economic system to crash (again) - at least not anytime soon.So I am proceeding with an Optimistic outlook towards the future. And as such, I'm making investments NOW, that I fully expect all will still be around (including myself) to benefit from in that future. And I make the point that a person who had that outlook in 2010, and acted accordingly - likely had a great decade. Are you an Optimist or a Pessimist? What do you expect the next decade to hold for you? Because Optimism can be Profitable.

Podcast Episode 43

People have been getting rich on Real Estate for decades - really going back hundreds and even thousands of years (before the current crop of humans on this planet even existed). But the economic crash of 2008 / 2009 might just have created the best Real Estate buying opportunity of our lifetimes.Now as humans we tend to suffer from "recency bias" - thinking that what we've experienced is the best (or worst) that anyone in history has ever dealt with. True or not - in this episode of the [... and Landlord!] Rental Real Estate Investing Podcast, I'm asking the question - "Are You Late To The Party?""The Party" I'm speaking of is the situation that followed the "Great Recession" of 2008 / 2009, where a year or few later (sometime between 2010 to 2012) - in many (if not most) locations in the country, it was possible to buy Real Estate for LESS than its replacement cost. In other words, you could often buy a property for less than it would (or did) cost to build that same property new. That's a situation (a party) that doesn't happen every day.So in this [... and Landlord!] Podcast episode, I mention my envy of those who were able to jump on those deals right at the start of the party (around 2010 to 2012). And I lament the past a bit (something I try NOT to do), in that I didn't get to the party until 2015 - but still in time to grab some amazing deals that are paying off big-time for me today. And I start the episode by asking (singing in fact) "is the party over?"If you're just seeking to get started in Rental Real Estate Investing here in 2020 - are you 5 to 10 years late to the party? Is the party over? In fact, did the party end in 2019? <hr> So just this past weekend, I submitted an offer on behalf of one of my Investor clients (acting as their Realtor). And even though we were several thousand over the listed price on a distressed Townhouse in Raleigh (NC) - the seller went with another offer. I'm told by the listed agent that there were over 70 showings in only 4 days and at least 20 offers submitted (including mine on behalf of my client).So you can see from this one anecdotal example, that Real Estate is HOT right now, and competition for even highly distressed properties is high. From 2015 to 2018, I bought several properties just like this one - after they had sat on market for months in many cases. Now they go in days and for tens of thousands more than back then. So if "the party" is getting an amazing deal on a property - its not far off to ask "are you late to the party" or even "is the party over?"Listen to this episode of the... and Landlord Podcast to hear my answer to these questions... And It's NOT "YES!" - What is over, is "Armature Hour". You're going to need more than the MLS or Zillow to find deals in 2020.

Podcast Episode 42

OK, so there was a time in my life when I spent a LOT of time playing video games - which is then kind of ironic that it now annoys me that my 12 year old son does the same (even more so that I was the one who first introduced him to video games). But for the most part I left that behavior in my teens; however, whenever I'd allow myself to get sucked back into a given game, I could easily blow 6+ hours before I even realized it. I really LOVE playing video games, but I have no time for playing games right now - haven't for years. Now I make an exception in playing with my son, but he now prefers playing online with his friends from school - so I'm currently retired in my video game career.Now that said - this episode of the [... and Landlord!] Rental Real Estate Investing Podcast - is my excuse to express my love of video games, and how it relates to business and life. Level Up! That is the goal when playing video games, and the same is true when playing the games of Real Estate, Business and Life.Here I wanted to make clear with the sub-title of "Problem? What Problem?" - that what a person at Level 1 perceives as a problem, may be no problem at all for a person at Level 2 or 3. And a Level 10 person would not even slow down when encountering a Level 1 speed bump - they wouldn't even see it as a problem.Success in Rental Real Estate Investing requires that we Level Up. My first property was just over $60K - when I was just starting with Real Estate Investing. Whatever level I was at then could not relate to my current level where my latest project will have a value of over $600K. And I have no doubt that I'll soon be dealing with projects that are over $6M - because I'll Level Up!So this... and Landord Podcast episode serves as an analogy between Leveling Up / improving your charter in a role-playing video game and improving yourself in life - so that in both cases you're able to handle ever greater challenges to win the game. <hr> This is the final episode of 2019 - so let this be your start to an amazing 2020. Make it your goal to end the coming year at a higher level than you began. The... and Landlord Podcast itself began in 2019, and I'd like to think it has reached a new level and will continue to improve in the coming year.Happy New Year!

Podcast Episode 40

Podcast Episode 39

Rehabbing distressed properties into rentals is a balancing act... You must watch your budget, because every dollar spent on the rehab lowers your ROI - and depending on how you choose to fund your rehabs, it can also lower your cash-flow (at least initially). And you want the resulting property to be nice, plus you also want everything to be durable - so that you're not likely having to replace everything all over again at each tenant turn. Finding that right balance between price / cost, appearance and durability is critical to a successful outcome. And if you're like me, you want prospective tenants to think "WOW" (or even say it out-loud) - when they first see pictures or have a tour of your rental properties.In this episode of the [... and Landlord!] Rental Real Estate Investing Podcast, I relate some of my thoughts on achieving this outcome and balance - so I ask the question "How Nice Is Too Nice?"Here I relate that I cannot prove it, but anecdotally, I feel that the quality of my rental rehabs both make my properties more desirable (I definitely get that "WOW" effect); and results in an increased durability. But it does come at the price of an increased rehab cost. I put a bit extra into making my properties really nice (but "How Nice Is Too Nice?") - so at the same time, I must be careful not to take it too far.Because at a certain point, things are durable enough and look good enough - so to go further or spend more gains little to nothing in return from increased rent or reduced vacancy. While I feel you can certainly attract a better tenant who may stay longer if you put a little extra into the rehab (like upgrading to Stainless Steel Appliances, LVP Flooring, Granite Counters, etc...) - creating a home they really love and have pride of residency... It has a limit beyond which you get drastically diminishing returns. And since measuring those returns are almost purely anecdotal anyway - you really must be careful when increasing rehab expenses to make a property nice. You can quickly end up with a property that is far nicer than it needs to be to get the same tenant at the same rent you'd have gotten anyway with a lower cost rehab to rental.So where to draw the line? How nice is too nice?

Podcast Episode 38

Might there be a "Super" version of yourself inside - just waiting to get out? Or stated another way... Are you currently the best possible version of yourself? Might there be another possible version of YOU - who is capable of doing things that could make you RICH. Or do you think it more likely that you'll somehow develop super powers and fly before you'll ever become RICH?The book<a href="https://www.andlandlord.com/rich-dad-poor-dad-what-the-rich-teach-their-kids-about-money-that-the-poor-and-middle-class-do-not/">Rich Dad Poor Dad</a>puts forth the idea that being RICH is a choice. But the opposite is true as well... Being POOR is also a choice. Or actually, a life long series of daily choices - bad ones. But YOU CAN BE RICH. You just have to WANT IT. You have to WANT IT enough to DO SOMETHING to obtain it. And most people won't. In fact, they CHOOSE not to.In this episode of the [... and Landlord!] Rental Real Estate Investing Podcast - I talk about how most people are not RICH because it has never occurred to them that they can be. And thus they make choices that ensure they won't be. At the basic level, all it takes to be rich is 4 things... 1) The belief that you can be; 2) The determination that you will be; 3) An idea as to how; 4) And effective execution of that idea.The problem is that (outside of maybe winning the lottery) most people don't think that they can be rich. So they certainly don't have any determination to be rich. And most people are lacking ideas, such as for a business, product, service, etc... So they can't execution on what they don't have.Ideas are infinite - but why would an idea come to you if you're just going to dismiss it as something you can't do anyway? So the first part of getting an idea to execute upon is believing that you can and then determining that you will.So listen to this episode of the Landlord Podcast and let's stop being lessor versions of ourselves. We all have greatness within - LET IT OUT!

Podcast Episode 37

I was a one-man business machine. 16 hour days were nothing for me. I often worked to 3AM, slept to 7 or 8AM, and got back up to do it all over again - like it was nothing. If something needed to be done, of course I did it myself - as I wanted it to be done right. And surely no one else could do anything right, but me - right? That worked well enough in my late 20's and early 30's... But not so much once I reached 40 or so. At 40+ if I'm up to 3AM, I'm not getting out of bed before 10AM - if not 11. And thankfully, I've long since learned that I'm not the only person who can do things right.Having come to understand this, I'm no longer clocking 16 hour days. I can (and do) occasionally, if and when I must - but now I have a team in place that removes most of that burden from my shoulders. This episode of the [... and Landlord!]<a href="https://www.andlandlord.com/">Rental Real Estate Investing Podcast</a>is about VA's (#VirtualAssistants) and other members of your #RentalRealEstateInvesting Team.I leverage VA's to get things done - because I can't (and shouldn't even try to) do everything myself. There is a highest and best use for my time, so in this episode of the #LandlordPodcast, I speak about my use of VA's and team building activity. My goal is to fire myself from any and every job that can possibly be done by someone else on my behalf. Even if that person is only 80% as good at the job as me, putting multiple VA's on several tasks at even 80% of my effectiveness still results in a LOT more work getting done than I could possible do on my own.So would you rather a job done at 80% of your greatness or yet another job sitting un-done on your to-do list? I know my answer! Hear it in this episode, along with details that will help you do the same.

Podcast Episode 36

Do you like to travel? Would you do more of it if you did not have to pay for your airfare and could fly for FREE? And do you have a business? Having Rental Properties IS a business... So, if you've answered "YES" to each of these questions, then you need to learn about Credit Card Points Hacking. Your Rental Properties (and other businesses) can earn you FREE travel with points!I travel a LOT (over a dozen flights this year), and I've yet to pay a single penny for airfare (other than a couple of upgrades for more legroom on longer flights and a couple of checked bag fees - that I even got back). And that doesn't even include FREE flights for my wife and son; and even a couple of times where I used my points for some other family members to fly for FREE.My businesses generate enough points each month that I haven't paid real money for airfare in years. I even have enough points to be an aid to others, using my points to lower the travel expenses for some family members.How? Because I don't pay my business expenses directly. Instead, I put every business expense that I possibly can on a points credit card. And I then pay that card in full each month. But the benefit of placing the card in the middle of the merchant or vendor and my business, is that the credit card rewards me with points. In most cases its a straight dollar-for-dollar reward, in which $1 charged on the card gives me 1 point. But some cards give double and triple points - maybe for certain categories like gas or food.However I can, I hack my legitimate and necessary business expenses into points that I can redeem whenever I wish for FREE travel. If you have a business that has any amount of frequent or reoccurring expenses that can be paid with a card (the higher the better), then you're missing out on a great opportunity for FREE travel, if you are not paying those expenses with a points credit card.Business owners fly for FREE... And owning Rental Properties IS a business!

Podcast Episode 35

On the main image for this episode you see a roof logo silhouette, the words "Real Estate", and then a reference to "Slogan Here". When you're starting your Real Estate Business, you'll certainly come across stock logo templates like this, and any designer you're likely to hire will almost certainly come up with something along these lines for your review and approval. You'll spend time going over all the samples, drafts and mock-ups of what will become your Real Estate Business logo. You'll come up with several slogans, eventually settling on one that fits well enough with your business name, logo and brand. You'll then get business cards created with your nice new logo prominently featured.Maybe you'll keep it simple and go with a card that just has your local phone number and your email address will be @Gmail.com. But if you're like many starting a new business (especially a Real Estate Business) - you'll want a very easy to remember (maybe even a vanity) phone number; and you'll certainly want your website address listed on your business cards.So in addition to spending countless hours on your business logo, you'll spend weeks (or even months) working on a website for your new business. But because you almost certainly named your business prior to getting your Domain Name (a mistake) - the website address is something horrible.Maybe you named your business "Prestige Home Buyers, LLC" - and PrestigeHomeBuyers.com was TAKEN, as was PrestigeHome.com or PrestigeHomes.com (just for example - I have no idea if these are active sites or not, available, taken or otherwise). And you certainly won't be getting Prestige.com - so you end up registering PrestigeHomeBuyersLLC.com (which is horrible); or PrestigeHomeBuyers.net.When you see website and email addresses with LLC, INC, NC or non .COM extensions, it almost always means the person named their business BEFORE obtaining their domain name. So in this episode of the Podcast, I go into some detail as to how to avoid this mistake for (CRIME against) your business. I suggest getting your ideal domain name FIRST, and then naming your business SECOND - to match the domain name (and without any LLC or INC). <hr> But all of this is not even the real point of this episode. The real purpose here is to express that all of this stuff related to your business name, business cards, website, etc... is NOT what you should be focused on in the first place. Don't get bogged down in the trap of spending your primary time and effort in setting up your business. Instead, spend that time and effort getting your first (or next) rental property!You don't really have a business anyway until you've got some properties (I'd go as far as to say several). Because most people having one or two rentals don't have a business in place. So focus on getting some properties, and worry about creating a business later.But when you do get to the point of being ready to create a business, this episode of the Podcast will provide you with some key insights into how to go about doing it right - so that you do not end up with a website address like Prestige-Home-Buyers-LLC.net.

Podcast Episode 34

How likely are you to acquire a lot of something that you don't like, don't value or consider to be bad or even evil? Even if you claim to want it and lots of it - would you really!? Why would you - if you feel that way about it? Can you even, if you think and speak negatively about it on a regular (if not daily) basis? What I'm talking about is MONEY. To compare, name for me one thing that you have near constant negative thoughts about (when other people have it); speak negatively about every time the topic comes up (unless its yours); feel that its bad or even evil to have a lot of it; think that those who have it in large amounts are bad or evil and will be punished for having it - yet somehow you want as much of it as you can get!? Really, what would that be?Money is the only thing that I'm aware of that people claim to want lots of - yet, put great effort into disparaging it and those who have it. So while I can't guarantee much, I can absolutely guarantee that you either won't have much money or won't keep it for long (even if you were to win the lottery) - if you don't change your view of money.So this episode of the [... and Landlord!] Podcast is asking the question, "How Do You View Money?" - Because that's where it all starts. How you view (or think about) money, will determine how you treat it. Because things you treat badly won't stay around for long, if they come around at all.In this episode, I relate some of my challenges with my own view of money - my thoughts and the books I read that lead to me changing that view. And best of all, how money started to flow my way along with opportunities for more - once money became something I desired and valued for what it was... A tool that makes me a better version of who I already am, as well as, a greater blessing to those I know and love.

Podcast Episode 33

2020 is only 2 months away... How has your 2019 been? But more importantly, what are your prospects for 2020? I've never done New Year's Resolutions, but I do set goals, and I'm very excited about what 2020 is likely to hold for me and my family - and business should be very good. And I believe I owe this outlook on what's to come for me in 2020 to the focus of action and highest / best utilization of my time that I've put into place since 2015, and especially here in 2019.In this 32nd Episode of the [... and Landlord!] Podcast, I relate my challenges of focus. How I struggle to be the most efficient and productive version of myself by leveraging systems, processes, people and building a team to offload those tasks that are just as well completed by others as myself. I came to realize, that even if others are only 80% as good at the task as me - that's good enough, as my time is best applied towards those few tasks that only I am able to do for my businesses.I also go into some of the things that I had to sacrifice in order to better focus on what was really important to me and my pursuit of financial freedom - which was becoming a Rental Real Estate Investor... and Landlord! Less important to me than this achievement was listening to music, playing and watching sports, watching TV. Those things and other entertainment does nothing to make money for me or move me any closer to financial freedom - so that makes it a waste of time.I also detail how not everyone is entitled to be in our lives, so anyone who is not a benefit is a detriment - and therefore needs to be blocked, or otherwise limited in access. Everyone in my life needs to play some role in making it a better life, or I will work towards blocking / limiting them in my life. Around me is a no negative influences and no leaches zone... You should create the same for yourself.Let's start planning how we're going to use these 2 remaining months of 2019 to make 2020 the best year of our lives yet. And focus on the important things and achieving our goals should be at or near the top of the list of things we're going to do to make that happen.

Podcast Episode 32

Have you ever noticed that many of the tallest and most impressive buildings in the Downtown areas and throughout most Cities have the names and logos of Banks at the top? This is because Banks make money from money - and not just when the tellers are open from 9 to 5 Monday to Thursday and to 6 on Fridays. They make money from money 24 x 7 x 365... A ton of it! But have you ever considered that YOU can do the same thing? The rich get and stay rich by investing in assets - assets that create cash-flow. In other words, they invest their money into things that make more money. They don't work for money - they make money work for them. And you can do the same thing, by being the Bank as a Private Lender against Rental Real Estate.So this 31st Episode of the [... and Landlord!] Rental Real Estate Investing Podcast is for those of you who really don't want to be a Landlord, but who would still like to invest in Real Estate... You can! You can become the Bank, by being a Private Lender for people like me, who want to be Landlords, and who thereby seek to buy properties for rehab into rentals (BRRRR).You can be the Bank for me and other Landlords (or those who seek to be), by lending in the first or second position against Rental Real Estate. Listen to learn more about what might be your key to all the income you may need to live a life you never thought possible. Also learn a bit about Self-Directed IRA's as yet another way of creating a massive nest-egg for your future.

Podcast Episode 31

Real Estate Investing is a team sport, and its hard to win the game when you're not playing as a team. My teammate is my wife. So how do you get your spouse to even want to join you in this particular game of being a Rental Real Estate Investor... and Landlord? In this episode of the [... and Landlord!] Rental Real Estate Investing Podcast, I relate how my 20 years of entrepreneurial endeavors have benefited from (and were made possible by) the unwavering support of my wife - starting before we even got married. She's been my rock, and I couldn't have done it without her - so I share some of those details.But since I'm the one in business... I'm the one buying Rental Properties. I'm the one going to seminars, conventions and trade-shows. I'm the one reading countless books and listening to podcasts each day. So here I cover some of the things I've done to bring my wife along on this journey - fully informed and excited herself about each step along the way.If you feel that your spouse isn't on your team (yet), when it comes to this particular game of Rental Real Estate Investing - maybe this episode will start you down that path of building confidence and interest in them as to why they've got to get into this game ASAP! Because this game can make the average person rich - and you don't have to know how to do anything with a ball or a deck of cards. All the talent you need for this can be learned. And its so much easier when your spouse is on your team and fully in the game.

Podcast Episode 30

I am a "Transaction Engineer" - Which is my way of saying that I engineer (or create) transactions of Real Estate deals, using whatever means or tools are at my disposal. Lease-Options are one such tool in my belt that I've used to great success. So in this episode of the Podcast, I relate my story of having used Lease-Options to successfully acquire 3 Rental Properties - essentially for FREE! Now yes, I did have to put some money into each property - at least initially. Each required an "Option Fee", which is a non-refundable pre-payment of some amount of the purchase price to create a binding contract. For these 3 deals, the Option Fees were $100; $1,000; and $3,000 - respectively. Also, each property needed approximately $9,000 of rehab (give or take a few thousand) - to make them rental ready.But I use zero-interest credit card promotions for most of my rehab expenses - so that's FREE money not coming out of my pocket. And here, the properties themselves kicked off enough positive cash-flow (once rented), to both payoff the credit card balances prior to any interest hitting. They also paid me back for any actual cash out of pocket, such as for the Option Fees or any rehab expenses that I couldn't put on a zero-interest card.I even relate how the properties increased in value during the Option period, so when I actually did complete the purchase a year or two later, I was buying them well below their current value - allowing me to walk away from the purchase closing table with a check in hand. How often do you buy a house and get paid to do so!? <hr> Lease-Options are a two part contract... The first part is the Lease, which is not much different than any Lease for any property, where you agree to pay a monthly rent to occupy the home for some period of time, along with other rules, requirements and restrictions. Some slight differences here are that you are not going to occupy the home yourself, but instead have the right to sub-lease the property to an end Tenant of your choosing, and collect all rents.The second part of the contract is the Option, which gives you the right to purchase the property at any point prior to the end of the Lease / Option period, for an already agreed price - that does not change regardless of if the value of the property should go up or down during that period. The Option contract gets recorded against the property title / deed, so that it cannot be sold to anyone other than the Option holder during the Option period. You have the property on lock.And it is typically the case that in exchange for being granted a binding Option to purchase the property and full control, the Option holder is also fully responsible for paying all expenses related to the property, which would most often include the mortgage; taxes; insurance; repairs / maintenance; rehab / upgrades, etc... Because after all, you are making money on the property - its essentially yours, as you have full control and all rights. And depending on the market and property conditions, you may also be paying a premium of some amount to the owner for this privilege.So I'm a real fan of Lease-Options, because if you can find a home and potential seller with the right motivation(s), and you can craft a presentation that explains the value and benefits to the owner, while overcoming any obstacles and objections (there may be several) - you can truly create a win / win / win situation.Of course the first two wins are you and the seller; but that third win is for the Tenant who now gets to live in a great home that would not have otherwise been available - if not for your being a "Transaction Engineer" who understand and can leverage the power of the Lease-Option.

Podcast Episode 29

So this is another special announcement episode - this time announcing Blue Chariot Realty! You may remember previously (in Episode #12) I announced Professional Property Management Services from Blue Chariot Management. Well, now I'm announcing my North Carolina Licensed Realty Firm (Blue Chariot Realty) - of which I (Jonathan Taylor Smith) am the Licensed Broker-In-Charge.Further, Blue Chariot Realty has joined with eXp Realty - so its "Blue Chariot Realty, Brokered By eXp Realty". More on that later, but I did not want this episode to be completely self-serving, so I've also packed in lots of information about "The Investor's Realtor" and working with Realtors as an Investor to obtain more Rental Properties.What makes a good Investor's Realtor? Well, of course, like I very humbly mention in this episode - you want a Realtor just like me! But if you're not seeking properties here or your not local to the Raleigh / Durham (Triangle) area of North Carolina - then you can't work with me as your Realtor. Instead, you need to find someone just like me, and so I go into a bit of detail to that end as to what you should be looking for in a Realtor.You see, a lot of Investors do not want to work with a Realtor who is also an Investor themselves - for fear that such a Realtor will keep all the great deals for themselves. Hey - maybe so, but they can't buy everything! And getting in good with them, making yourself known as a real Investor who is able to close quickly on any decent opportunities - will make you far more likely to be top of mind when such an opportunity comes along that they can't buy for themselves.So in this episode, I go into some of those details as to why you should WANT to work with an experienced Realtor who is also an Investor. Then I spend the rest of the time talking about myself and Blue Chariot Realty - as what kind of a special announcement episode would it be if I didn't!?

Podcast Episode 28

“The secret to success is to own nothing, but control everything.” - Nelson RockefellerSo last week in Episode #26, I spoke on the need of Landlords to treat this profession seriously and run their Rental Properties like a business. Well, this week I speak on why you should avoid the title of "Landlord" and being known as the property (business) owner entirely - own nothing, but control everything.But for me, its a matter of pride that I own over a dozen Rental Properties - so my default answer to the question of "Are you the owner" has always been to quickly and proudly say "YES!" - and claim full Landlord status. Why shouldn't I?Well there are reasons you shouldn't. A better answer to that question may be "No, I'm the Property Manager". And so in this episode of the [... and Landlord!] Podcast, I go into details as to why being known to be the owner, is not likely to your benefit. Its better to be known as the Property Manager than Landlord or owner.Because the owner is a mean and greedy SOB in the eyes of many; whereas the Property Manager is just a hard working employee (just like the Tenant) - who must unfortunately adhere to the lease in all dealings.The Property Manager would love to waive the late fee for the Tenant, but they must adhere to the lease and treat all Tenants the same. As Property Manager, you'd love to let the Tenant out of their lease early, but you must adhere to the full term of the lease. You have no problem with allowing the Tenant's boy/girl friend move in, but as the Property Manager, you must adhere to the lease's stated authorized occupants.When you're the owner, you're the bad guy. But when you're the Property Manager, the lease becomes the bad guy. This may sound like semantics, but it gives you tremendous freedom from negative perceptions from Tenants when you can point to the lease (that they agreed to and signed), and explain that you must adhere to the lease in everything - no exceptions. And when you are not seen as the owner (who is thought to be able to make exceptions at will) - life as the Property Manager becomes smooth in comparison.So in this episode of the... and Landlord Podcast, I talk about my initial desire to claim full Landlord status, proudly being known to be the owner. But how I've since come to realize that this is not necessarily in my best interest. And so upon coming to this realization, when now asked by a prospective Tenant, "Are you the owner?" - my response is now always, "No, I'm the Property Manager." - listen to this episode to learn why you might want to make that your answer to this question as well.

Podcast Episode 27

Are you a Landlord? If so, did you know that being a Landlord and owning Rental Properties is a business? If not - that's the problem I discuss in this episode of the [... and Landlord!] Rental Real Estate Investing Podcast.You see, there are a lot of Landlords out there who SUCK at being a Landlord - often because they fail to treat their Rental Properties like a business. Your Rental Properties are both your product and your service, and your tenants are your customers. But this is one business in which the customer is certainly not always right (although I'd argue that may also be true of ALL businesses).Landlords tend to have a bad reputation. This goes back hundreds of years, and in many cases, this reputation is well deserved. Much of the Landlord / Tenants Laws that exist throughout the world came into being to protect Tenants from abusive, dishonest and unethical Landlords. And in many cases, that pendulum has swung so far in the Tenant's favor, that well meaning Landlords cannot make a profitable endeavor out of owning Rental Properties in such locations.Thankfully, that is not the case everywhere. Most places managed to strike a reasonably fare balance between the rights of the Landlord and those of the Tenant - as BOTH do have rights. But this does not relieve a Landlord of the responsibility to uphold certain standards. To know the law and uphold it in all dealings with Tenants, as well as, to maintain professional handling of all matters, communication, and on.We as Landlords don't want to be doing anything TODAY, that further damages our reputation - that bad reputation obtained from past wrongdoing by others in our name. This stigma on the title "Landlord" is one of the reasons many have taken to calling themselves "Property Managers", which is something I'll speak more on in next week's Episode #27 - "Are You The Owner? No, I'm The Property Manager".So in this episode of the... and Landlord Podcast, I speak about being a Professional Landlord running a Rental Property BUSINESS - and I go into some of the tools that I use to this end.Businesses have documented policies, repeatable procedures, leveraged systems, tools, and a general consistency of professional high-level operation - from day to day; week to week; month to month and year to year... Always improving at each step along the way. This is exactly what the Landlord and Rental Property profession needs - to be operated as a business!

Podcast Episode 26

The acronym is I.D.E.A.L. - where I = Income; D = Depreciation; E = Equity; A = Appreciation; &amp; L = Leverage. These are the benefits of Rental Real Estate Investing and how you make money in multiple ways. This is how it's not unheard of to make a return of something like 50% with Rental Properties; whereas you may be lucky to make 5% with other investments. Even if you are making 10% or 15%, even 20% with other investments - you can often do twice as good with well purchased, well located, and well managed Rental Properties.So this episode of the... and Landlord Podcast is just to get you thinking about the many benefits and ways of making money as a Rental Property Investor... Does your investment in Precious Metals (Gold &amp; Silver) produce an Income? Do you get Depreciation from your Stocks? Now maybe you have some Equity in your Stocks or Gold if they are now worth substantially more than you paid for them, so you might have some value Appreciation there - but was a Bank or other Lender willing to give you a loan of 80% of the purchase price? If there was any Leverage involved, it was only against the value of other Stocks you already owned.Rental Real Estate is the only class of investment of which I'm aware that provides all of these I.D.E.A.L benefits. An investment that can pay for itself because it produces an income. Gives great tax benefits because of Depreciation and other expense write-offs. Builds Equity quickly through both Amortization (Mortgage Pay-down) and value Appreciation that is highly likely if you are buying where people actually want to live. And skyrockets your Rate of Return (ROI) by leveraging 80% of the asset price from a Lender, leaving you to only put in 20% - yet you are still 100% owner!Rental Real Estate is the I.D.E.A.L Investment!

Podcast Episode 25

Funding Your BRRRR Deals... BRRRR investing often requires Rehab Lending, be it from Private or Hard Money Lenders. In this episode of the [... and Landlord!] Podcast, I cover the typical requirements of working with Rehab Lenders, and the things you need to be on top of... These being: Down Payments; Appraisals; Reserves; &amp; Credit Scores. When working with Rehab Lenders, you'll almost always need to put some amount of money into the deal ("Skin in the Game"), as your Down Payment. This will typically be 20%, but it can be lower or higher by 5% to 10% - depending on the specific numbers and terms of the deal.This will be largely determined by the Appraisal results. There will be an Appraisal of both the "As-Is" Value (to make sure you're not paying too much for the property); and the After Rehab / Repair Value (ARV) to determine what the home may be worth upon completion. And it is the ARV that will be critical in determining how much of the deal the Rehab Lender will fund versus what you'll need to pay out-of-pocket as your Down Payment. As they will typically only fund 70% to 75% of the ARV as the total project cost, which is both the purchase price and rehab budget.And most Rehab Lenders are going to want you to be able to show a certain amount of Cash Reserves in the Bank, which includes your Down Payment amount, Closing Costs, Holding Costs, and Interest Only Loan Payments.Lastly, they are most often going to pull your Credit and want to see certain minimum credit scores, along with no liens, no judgements, no collections, and no other derogatory information present on your Credit Report. In this regard, I discuss my personal situation of balancing the amount of Reserve Funds I use to pay off Credit Cards to keep my Credit Scores high, versus what I keep on-hand to be able to meet the Cash Reserve requirements.Its all good information for those seeking to do BRRRR investing at a high level, which at some point will require Private or Hard Money funding from a Rehab Lender.

Podcast Episode 24

By the end of this episode, I just put it out there... Something I've struggled to admit for most of my adult life. This episode of the [... and Landlord] Rental Real Estate Investing Podcast speaks on the subject of our: Mindset; Attitude; Vision; (and what I come to admit) - my Passion - TO BE RICH! But in the process I give insight into the books on the www.andlandlord.com/books page that have added me greatly in expanding my Mindset; improving my Attitude; focusing my Vision; and refining my Passion.This Episode #23 of the [... and Landlord] Podcast is an extension of last week's Episode #22 that asked the question - What's Your Why? Because the things discussed in this show are the things that will help you to achieve your WHY.

Podcast Episode 23

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Podcast Episode 41 | Jonathan Smith | EXP Realty LLC

Yea, I've got 2020 Vision - in more than one way. So in this Episode #40 (the first of 2020) of the [... and Landlord!] Rental Real Estate Investing Podcast - I'm engaging in the New Year / New Decade pastime that pretty much everyone else is as well... Goal Setting! What's your 2020 Vision? For that matter, what's your Vision of 2023, 2025 and all the way out to the end of this / the next decade - 2030!? That's what we discuss in this episode of the... and Landlord Podcast. We'll be setting grand goals and making plans to achieve them.If you've already got a Rental Property (or few); or if you're trying to get your first - getting from where you are to where you seek to be will be aided greatly by a goal directed by a plan. So let's get to it and kill-it not only in 2020 but for the decade to come all the way out to 2030 (and beyond)!

Podcast Episode 41

Published 07/05/2024 | Posted by Jonathan Taylor Smith

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