BUY & HOLD: How To Buy, Fix, Tenant, & Manage Rentals

Single Family Homes are easy to buy, easy to sell, plentiful, and user-friendly. These traits make them ideal for new investors to work with. Because of these benefits, we'll focus mostly on SFRs in this course.

Please do understand though, that the overwhelming majority of strategy and technique taught in this course will easily apply to other types of property as well such as Duplexes, Triplexes, and Quadruplexes, for example.

So while there is certainly special emphasis on SFRs in this course for the sake of simplicity, you could still use the material in this course to buy, fix, tenant, and manage other small residential property types as well.

It's better to be REALISTIC than IDEALISTIC when running your numbers for a potential purchase.

We'll go through some examples that show running your numbers in a realistic manner is better because it gives you more flexibility when it comes to dealing with inevitable problems that will have to be dealt with.

The "Debt-Snowball Strategy" is one that most Landlord's will use to build a portfolio of rental properties. It's simple, tried-and-true, and it works. This lesson explains the technique so that you can determine if you want to put it to use in your business.

This lesson explains the nuances between 2 key terms that many people don't fully understand. Understanding the difference between cashflow and appreciation can make or break a new investor, especially when it comes down to using these principals to choose a suitable investment market that will lend itself to helping you reach your goals.

Choosing your investment market is one of the most important decisions you'll make. In this lesson we'll talk about key factors to consider when choosing a market - and whether or not to commit to potentially investing remotely if that market is far away from your home.

There are 2 basic ways to buy rental property.

1) To DIY all the work yourself and possibly save a big chunk of money in the process.

2) To buy a property that is "turn-key" where much of the work is done for you, but will probably cost you more.

We'll talk about the benefits and drawbacks of each so that you know which option is right for you.

Having a great group of Real Estate professionals at hand to help you with various tasks with ease is one of the biggest advantages a Real Estate Investor can have. We'll talk about the various players you should connect with and how each of them brings a unique attribute to your team.

There are various ways to get connected with the right people. I always suggest methods that involve a face-to-face meeting in one way or another as I believe this helps build the most solid foundation professionally. There are other methods that you can employ, especially if you are investing remotely, but you should always make every effort to solidify those relationships and to learn as much as you can about the people you are networking with.

Having convenient access to THE RIGHT PEOPLE is one of those things that can easily take your Real Estate business to the next level. Take the time to make the RIGHT connections and your business will flourish as a result.

To be honest - the deals are EVERYWHERE. It's one of those things where you simply have to change your perspective in order to see them. You just have to look in the right places, talk to the right people, and ask the right questions. This lesson will shed some light on how to go about finding great deals on rental property.

If you can't effectively and accurately determine the rental yield of a particular house, then you can't make accurate offers. Here we'll talk about some resources that you can leverage to help get a clear idea of how much rental income a particular house could provide.

This lesson will help give you clarity concerning how houses in different markets will be stronger performers in regards to EITHER cashflow OR appreciation... typically not both.

This is vitally important to understand, especially when you are attempting to choose which market to invest in. If you get this wrong, then your rental property will not provide you with the returns you are hoping for.

This is not a difficult concept to understand, but it's one that you should be clear on before committing to a purchase decision.

The "100x Rent Rule" is a simple concept designed to help you quickly get a rough idea on whether a particular opportunity is worth taking a closer look at. With this tool, you'll be able to determine your maximum investment amount without even needing to use a calculator.

Be warned though... this is not a "fool-proof" way to accurately analyze deals. This is simply a tool of convenience, but it's one that will save you MANY HOURS OF TIME if you use it wisely and for it's intended purpose.

This lesson will demonstrate different ways to make offers on houses. Some are more effective than others, and some may cost you some money, so be sure to choose the best option for the particular situation.

In this lesson we'll talk about some subtle and simple ways to help you get more offers accepted. This isn't a "magic-bullet" kind of solution, but the ideas here should help you increase your acceptance rate by 25% or so - which is actually HUGE when you think about it.

This lesson will help guide you through steps you should be taking right now in order to best set yourself up for being able to efficiently secure financing when needed. The steps in this lesson are things that can take some time, so it's best to get started on this sooner than later if you are starting from scratch concerning financing options for rental properties.

There are essentially 8 different types of loans that can help you purchase and hold rental properties. Each type has unique benefits and drawbacks. None will work for everyone, but everyone should be able to take advantage of at least a couple of these financing options depending on what your own unique circumstances are.

This lesson is simply to help point you in the right direction by educating you on the various types of investment financing products that are commonly available.

"House Hacking" is a unique way to buy investment property. It's certainly not for everyone, but for the right person it could be the ideal way to purchase property - especially their first investment property. This lesson details how the strategy works, and will also help you determine if this could potentially be a viable option for you to employ when buying a rental property.

This lesson will show you what to expect when you have reached The Escrow Period. This is the period of time after all of the paperwork has been submitted to the closing office, and before the closing occurs.

It's closing day! I still always get excited when it's time for a deal to close - the feeling never gets old. If it's your first time though, it can certainly be a time of trepidation and worry. Fear not! This is typically an easy step in the process, but I'll go ahead and explain how it works so that you have a clear understanding of what to expect on closing day.

It can feel a bit unsettling, but this milestone is one of significant importance. Things are about to get interesting!

This lesson details out the key differences between a RENTAL renovation and a RETAIL renovation. Both are renovations, of course, but they couldn't be any more different concerning the end-goal. Get this right and you'll be setting yourself up for success, but get this wrong and you could be in for a very expensive and frustrating experience.

The idea of "tenant proofing" essentially boils down to having the forethought to select the right materials that will stand up to the rigors and abuse that tenants often dish out. Wear and tear is to be expected, so let's set things up from the start to be able to withstand the abuse so that you can minimize the amount of maintenance needed for your property over time.

Here we'll talk about one of the most important members of your power team - your General Contractor.

Some people are GREAT, some are BAD, and the rest are somewhere in-between. This lesson will help guide you through selecting a GREAT General Contractor.

Real Estate is very much a PEOPLE oriented business. When you find a GREAT General Contractor - or anyone else on your Power Team for that matter - it makes good sense to build, protect, and grow that relationship. This lesson will show you how to go the extra mile to build and solidify that relationship - and also provide some insights on the day-to-day workings of your General Contractor.

The bottom line: Always collect a receipt!

Beyond that, it really comes down to whatever arrangement works best for you and your General Contractor. The ways they are paid will vary considerably from market to market, but there are still common themes that should be upheld. Here we'll talk about how to pay your General Contractor, and also how to ensure that you are looking out for your own best interest along the way.

The Fair Housing Act sounds like something that would be boring and uninteresting - and in some ways it certainly is... but this is still a topic that you NEED to take very seriously. Take the time to familiarize yourself with the FHA and to also learn the nuances of how it can vary depending on what market you are investing within.

Get this right, and you'll likely never have any issue with the Fair Housing Act.

Get this wrong, and you could be looking at astronomical fines of 20k, 50k, and even 100k+.

Be warned... this lesson is VERY important.

Having an awesome Property Manager in your corner can make the management of your rentals so much easier. This lesson details out some ways to track down a high-quality and capable PM that will take care of the day-to-day and month-to-month management of your rental properties.

One of the most valuable pieces of advice I can possibly give you concerning rentals is to simply...

PLACE GOOD TENANTS!

Good tenants make everything easier. The rent checks come in on time, the neighbors love them, and they take good care of the rental. Bad tenants, however, can turn your world upside down.

Here we'll talk about various ways you can choose the best tenants to stack the odds on your favor.

This is a simple for used to collect information from prospective tenants.

Download it, edit it however you see fit, and put it to use in your business!

In this lesson, I'll show you a cool way to automatically screen out bad tenants and to collect the contact information of good tenants.

This is PART 2 of using the Google Form to automatically screen tenants.

A background check is a vital part of verifying a tenant before you commit to placing them in your property. There are hundreds of places online where you can order a background check. In this lesson, I'll show you the provider I've been using.

This lesson will teach you the nuances of the Master Lease Agreement. We'll go through the entire document line by line so that you know how everything works.

Download it, edit it however you see fit, and put it to use in your business!

Ideally, when you place a tenant, it would be nice for them to stick around problem-free for many years. Unfortunately this doesn't always happen and the need will arise to place new tenants. This is known simply as "turnover".

The good news is that there are things you can do to help minimize the amount of tenant turnover you experience. We'll talk about those thing in this lesson.