Mar 31, 2020
There really is nothing new under the sun. Even today’s freshest sounding ideas only sound that way because it has been awhile since they were popular. This is true in real estate investing. Someone starts doing Technique A which generates massive profits. They tell their friends, then teach a course on it and pretty soon EVERYBODY is doing Technique A. Then someone rediscovers Technique Q, which is an old idea but no one is doing it any longer and there is an opportunity to make good margins. The process repeats.
This is true of the strategy we are going to start calling “Happy Rooming” at least until we come up with something better. For the consumer, you pack up your clothes and move into a house. You get a furnished room, common areas, shared driveway for your car. It comes with some rules of course, to protect everyone living there, but you have the convenience of not having to purchase furniture or absorb the cost of renting or buying space you don’t use.
Our guest today is Mentor Sharoney and she has brought this technique back to the Atlanta market. She’s brought it up-to-date and added some extra touches that create happy living spaces for her tenants and strong cash flow in her properties. She will be along in a few moments.
How to contact us
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Sponsors
American IRA: www.americanIRA.com
Civic Financial: bit.ly/CivicFunding
FlipCalcs
Announcements:
- The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
- Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
- FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities.
- “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.
News:
- CoreLogic reports that home values gained 4.0% in 2019. Projecting 5.4% this year. (we are at 4.5). CT was the only state with decline. Idaho lead the way with 10.5% growth. Eight straight years of gains. https://www.corelogic.com/insights/home-price-index.aspx?WT.mc_id=crlg_200303_TnzF6
- A super simple spreadsheet solution that allows you to see the impact of annual appreciation on the value of a property (or anything that appreciates consistently and predictably). https://docs.google.com/spreadsheets/d/1Z4A66KOANQO45Jn8YTpV55rEqNQ-u0N51B2ZfqW2sI8/edit#gid=0
- Foreclosures are at a 15 year low. https://www.attomdata.com/news/market-trends/foreclosures/attom-data-solutions-2019-year-end-u-s-foreclosure-market-report/?utm_source=newsletter&utm_medium=email&utm_campaign=SEO-News+Updates
- Delinquencies are at the lowest rate since 2000. https://www.corelogic.com/insights/loan-performance-insights-report.aspx?WT.mc_id=crlg_200310_PEpCh
- Remember Wells Fargo and the fake accounts? 5000 employees, over 1 mil fake accounts. Now Fifth Third Bank has joined the party, according to the CFPB. https://www.housingwire.com/articles/fifth-third-bank-accused-of-opening-fake-accounts-in-customers-names/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=84493004&_hsenc=p2ANqtz-_Xs-flc5GsRRvV8MWsyPE6YgQa6AiXD4kFBqqJqxjyhoKmwbNNi0zy97SiFJHb8pvg7v4ki-pIw3PJSdvaccsL0I85RzTkQIWcC2BpyLzvibjR02c&_hsmi=84493004
Topic: Beautiful Rooming, with Mentor Sharoney
Your Questions: Send emails to questions@rogerblankenship.com
- Ron, Lexington, KY, “I have an AirBnB in Daytona which is doing well. I’m considering buying more, but I’m hearing that communities are banning them. What’s the latest?
- Angela, Anniston, AL, “I just flipped a house in Jacksonville, AL and made enough money to make a down-payment on two rental houses. This is fantastic! I want to do this full time but I’m pretty sure there aren’t enough deals around here. If you were in my shoes would you head toward Atlanta or Birmingham?”
- Marcus, Harrisburg, PA, “Thanks for the show and all you are doing. I’m interested in leading a local chapter of the Flipping America REIA. What do I need to do?”
- Joel, Atlanta, GA “You are seller-financing those cheap houses around the country. I want to buy one and turn it into a rental. Can you tell me how what I need to do to get one?”