Best Real Estate Investing Advice Ever

by Anita R Kiehl, Michael S Sherburn

Overview

"Bam! The advice in this book is like getting hit in the face with life-changing knowledge, free of fluff and packed with incredible, actionable tips for growing your real estate business" - Brandon Turner, Author of The Book on Rental Property Investing

The Best Real Estate Investing Advice Ever: Volume II is the collection of the top techniques and strategies of the most successful real estate professionals that were interviewed on the world's longest running daily real estate podcast from episodes 101 to 199.

By reading the Best Real Estate Investing Advice Ever: Volume II, you'll discover:

• A step-by-step strategy to quitting your 9-5 job
• How to become an expert at raising private money
• A simple 3-2-1 rule for networking and increasing your circle of influence
• 2 keys to winning at a real estate auction
• 4 differences between a good and a bad real estate deal
• How to accurately qualify a development deal
• And much more!

Whether you have zero real estate experience, are an experienced investor, or fall somewhere in-between, anyone can implement the practical advice from the Best Real Estate Investing Advice Ever: Volume II to further their investment journey towards financial freedom or take their current real estate business to the next level and beyond.

Product Details

ISBN-13:	9780997454314
Publisher:	BookBaby
Publication date:	07/14/2016
Series:	Volume Series , #1
Pages:	198
Sales rank:	218,733
Product dimensions:	5.50(w) x 8.50(h) x 0.70(d)

About the Author

From being the youngest vice president of a New York City ad agency to creating a company that in 6 months controlled over $7,000,000 of property, Joe Fairless lives up to his Fearless Fairless nickname. He’s the host of the popular podcast, Best Real Estate Investing Advice Ever show, which is the world’s longest running daily real estate podcast. Past interview guests include Barbara Corcoran and Robert Kiyosaki. He currently controls over $54,000,000 of real estate and consults investors who want to raise money and buy apartment buildings. He currently resides in Cincinnati, Ohio and is on the Alumni Advisory Board for The College of Media and Communication at Texas Tech University and the Board of Directors for Junior Achievement. Say hi to him at www.joefairless.com.

Table of Contents

Best Ever Endorsements 1

Introduction 5

Part 1 The Best Buy-and-Hold Investing Advice Ever 9

Chapter 1 Learn the Real Story behind a Property 10

Transition from SFR to Apartments 12

Invest In Yourself 12

The Numbers Tell the Story 14

Chapter 2 Leveraging Your Real Estate Asset Without Selling It 17

Never Sell. Period 18

Using Data for Due Diligence 19

Honing Your Psychology for Success 21

Chapter 3 The Importance of a Solid Team, Understanding Operations, and Managing Expectations 23

Building a Solid Team 24

Understanding Financials vs. Understanding the Operations 25

Managing Expectations with Contractors 27

Chapter 4 Invest Instead of Trade 30

The Big Break 31

Invest Instead of Trade 33

Chapter 5 Be Persistent and Learn from Failures 35

First Venture into Real Estate Investing 36

Persistence 38

The Important of Fiscal Prudence 39

Chapter 6 Avoid the Shiny Object Syndrome 41

Creative Financing 42

Know Your Floor and Stick With It 44

Avoid Shiny Object Syndrome 46

Chapter 7 Scaling Quickly 48

Add Value, Sell Quickly 50

Focus on Bigger Deals 52

Chapter 8 The 5-Step Blueprint to Financial Independence in 3 Years 55

Wrapping up Part One 59

Part 2 The Best Fix-and-Flip Investing Advice Ever 61

Chapter 9 Making Money by Flipping Land 62

Benefits of Flipping Vacant Land 63

Obtaining Delinquent Tax Lists 64

Are There Disadvantages to Flipping Land? 65

Always Challenge Your Assumptions 67

Chapter 10 Getting Conned by a Con Man 68

$80,000 in Credit Card Debt 69

Conned by a Professional Con Man 70

Don't Use Eraser Math 72

Chapter 11 Success Systems for Flippers 74

Investing in a Coach 75

Education via Partnership 76

Just Keep Pushing 77

Systematize As Much As Possible 78

Wrapping up Part Two 79

Part 3 The Best Hybrid Investing Models Ever 81

Chapter 12 Real Estate Syndication and One Lawsuit Happy Tenant 82

Restaurants to Real Estate 83

One Lawsuit Happy Tenant 84

The Importance of Due Diligence 86

Be Intentional 87

Chapter 13 The Hybrid Buy-and-Hold Strategy 90

Find a Need and Fill It 91

What is The Hybrid Buy-and-Hold Strategy? 91

Be Proactively Transparent 94

Chapter 14 Lessons Learned from Losing Everything 95

Learning Through Mentorship 96

Scaling Quickly By Starting a Business and Partnering Up 97

The Effects of The Financial Crisis 98

Lessons Learned From Losing Everything 100

Chapter 15 Turning Problems into Income 103

Added Value 104

The Power of Poor Management 106

Hire the Right People for the Job 108

Take a Hard Look at the Truth 109

Chapter 16 Commonly Overlooked Expenses 111

Real Estate is Very Region Specific 112

Overlooked Expenses: Buy and Holds 113

Overlooked Expenses: Fix and Flips 114

Chapter 17 House Hacking 117

Quick Evaluation Process 118

House Hacking 119

Wrapping up Part Three 121

Part 4 The Best Property Management Advice Ever 123

Chapter 18 Slash Expenses, Make Money 124

Find the Right Management 125

Reworking the Budget 126

Chapter 19 Never Receive a Late Payment from a Tenant 128

The Best Landlord Online Resource on the Planet 129

Automate Your Process 130

Wrapping up Part Four 131

Part 5 The Best Lending Advice Ever 133

Chapter 20 The Investor-Lender Relationship 134

Build a Relationship 135

The Structure of Real

Estate Transactions 137

Don't Have a Job or Experience? 138

Chapter 21 Four Questions Multifamily Brokers have When Qualifying Investors 141

Long-Term Approach 142

Qualifying a Deal 144

Wrapping up Part Five 145

Part 6 The Best Overall Real Estate Investing Advice Ever 147

Chapter 22 Structuring Joint Ventures Correctly 148

Choose Wisely 149

A Lesson in Partnerships and Due Diligence 150

Chapter 23 Don't Follow the Herd 153

A Closer Look at a "Dirty Word" 154

Don't Follow the Herd 157

Chapter 24 Crash Course on Probate Wholesaling 159

What is Probate? 160

Probate Listing Property Types 161

Finding Probate Leads 161

Reaching Out to Probate Leads 162

Don't Give Up On Your Marketing 165

Chapter 25 Buy the Neighborhood, Not the House 167

Lessons Learned From Financial Crisis 168

Buy the Neighborhood 169

When to Refinance 170

Chapter 26 A Different Kind of Due Diligence 172

Australia Flips to US Buy and Holds 174

Focus on Trust and Relationships 174

Chapter 27 Don't Invest on Unfounded Optimism and Emotions 177

Mexico Development 178

Don't Invest on Unfounded Optimism and Emotions 179

Chapter 28 Building a Luxury Brand on a Shoestring Budget 181

Building A Luxury Brand on a Shoestring Budget 182

Chapter 29 Create a Powerhouse Real Estate Brand 184

Don't Underestimate the Value of Your Brand 185

Practical Ways to Build Your Brand 187

Conclusion 190

Acknowledgements 191

About the Authors 192