Flipping America: FAR 305 - How to Research a Neighborhood, Part 1

FAR 305 - How to Research a Neighborhood, Part 1

Nov 3, 2019

There are a number of websites you can visit to get community information when doing your research on a property. We will review 18 of them. them today coming up. Plus we are going to talk a bit about student loan debt. As a free service I’ll be sharing with you the ONE big tip to reduce or eliminate student loan debt. During this discussion I also share the best way to make money if you do not have a degree and the best way to make a lot of money if you do. Also in the news today is Rent Control. I’m likely to get on a little rant about this because rent control is not just a bad idea - it’s an evil scourge. The politicians who push for it have to either be complete morons or complicit in the evil scheme to damage or destroy urban life. And yeah, I might quit beating around the bush and tell you how I really feel about it.

In fact, I think we should schedule a show on rent controls. I’ll put that on the list.

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Announcements:

Lunch with me every Wednesday. Baraonda
My latest article in Forbes is out. bit.ly/findredeals.
The FAN is here!
Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That’s right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy.
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Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.

News:

Weekly mortgage demand is flat as interest rates hit the highest level in 3 months

https://www.cnbc.com/2019/10/30/weekly-mortgage-demand-flat.html

Rent control will kill multifamily real estate

https://www.nationalmortgagenews.com/opinion/rent-control-will-kill-multifamily-real-estate

Here Are The Countries On The Brink Of Recession Going Into 2020

https://www.forbes.com/sites/sergeiklebnikov/2019/10/28/here-are-the-countries-on-the-brink-of-recession-going-into-2020/#2c81edbb3017

How Real Estate Can Replace Student Debt With A Promising Post-Grad Position

https://www.forbes.com/sites/forbesrealestatecouncil/2019/10/28/how-real-estate-can-replace-student-debt-with-a-promising-post-grad-position/#62a3daca205c

RE Tech Review:

Steps in DD

C.L.U.E report - past insurance claims.

Inquire about insurance (higher than normal rates = prior claim history)

Run a Report, homedisclosure.com may be the best. Trulia is pretty good.

Consumer businesses owned by ATTOM Data,

got bought by Renovo in 2011 and changed name to ATTOM Data

ATTOM sold in July 2019 to Lovell Minnick, a Private Equity firm

Realtytrac.com https://www.realtytrac.com/ https://fitsmallbusiness.com/realtytrac-reviews-pricing/

https://www.yelp.com/biz/realtytrac-irvine

https://www.consumeraffairs.com/housing/realtytrac.html?page=2#sort=recent&filter=none

Really consistently terrible reviews. Could be reason for the name change?

Homefacts.com bought by ATTOM Data in 2012

Provides interesting information about the home and the area. Crime and school information useful. Other items as well.

Homedisclosure.com - Launched by RealtyTrac in 2016

You have to create a free account. Then you get all the same information as homefacts.com but in a more modern, appealing format. This one is truly useful.

More Property research sites

Comment Line calls and Questions

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Motivational Thoughts for the day

“What’s the point of being alive if you don’t at least TRY something remarkable.” --Anonymous