Check out the Roofstock Marketplace here: www.roofstock.com.
Inspection contingencies are there to protect buyers by giving them options after receiving the inspection report. This video covers how the inspection contingency addendum works at Roofstock.
About Us: Roofstock is the leading online marketplace for real estate investors - making real estate investing radically accessible, cost-effective and simple. Learn more about Roofstock at Roofstock.com. ... https://www.youtube.com/watch?v=JPig994Ax7M
Source:
https://www.podbean.com/eau/pb-dtifc-101e9ec
Selecting strong renters can be the difference between a cash-flowing property or an alligator. Even if you can get a judgment on a tenant that owes you big, collecting on that judgment is not a guarantee.
On this episode, Steve White From RentPrep gives us the scoop on how you, as a landlord, can do the proper due diligence on your applicants to save you time, money, and headaches.
Website: https://rentprep.com/?utm_source=roofstock&utm_medium=podcast&utm_campaign=steve-media-outreach-2021
The "RentPrep for Landlords" Podcast: https://podcasts.apple.com/us/podcast/rentprep-for-landlords/id851540886
The "RentPrep for Landlords" Facebook Group: https://www.facebook.com/groups/RentPrep
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Transcript
Michael:
Hey everybody, welcome to another episode of remote real estate investor. I'm Michael Albaum and today I'm joined by Steve White, founder and CEO of rent prep. And today Steve and I are going to be talking about all things tenant background check related. And we're also going to delve into some things that you can do personally to boost your credit score. So there's a lot of fun information in here. Let's jump into it.
Well, Steve White, thanks so much for joining us today, man. Really appreciate you taking the time.
Steve:
Yeah. Thanks for having me on. I appreciate it.
Michael:
Absolutely. So you're the founder and CEO of rent prep, right practice? Yes, I really want to want to dive into what that is. But I would love to get a little bit about your background first, and how you got into the space?
Steve:
Sure, yeah, I'm totally on accident. I never intended to be doing background checks at all. So I, I got out of the Marine Corps, I served eight years took an opposite direction. And most of the guys that I knew that were getting out and becoming police officers, or getting into law enforcement in some way, and I sort of went the corporate america route, and I worked for a company that played a really niche role in a legal process called a replevin order. Nobody's probably ever heard of that. But…
Michael:
No, what is that?
Steve:
So if you can imagine, as you're driving down the road, and you see these really big, like, street paving machines, that, you know, like construction equipment that are usually like a million dollar piece of equipment, the company, if the company stops paying for it, and the bank wants that piece of equipment back, you can't just go and pick something like that up. And so if you
Michael:
Take a put on a tow truck,
Steven:
Right, no, it's a huge process, you usually got to break it down into pieces and ship it in on multiple vehicles. So what we were doing was arranging those replevin orders that were that had to be organ
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https://www.youtube.com/watch?v=MtCYVnV_Z1I
This video describes the relationship between an owner and a property manager and how to manage the expectations between them.
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https://www.youtube.com/watch?v=e7xclUqh1Kc
Watch this webinar to learn more about the process and benefits of selling a property through Roofstock.
(00:01) Introduction
(03:09) About Roofstock
(05:19) Why Sell on Roofstock
(09:55) Submitting Your Listing
(11:32) Roofstock Certification Process
(36:25) Q&A
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https://www.youtube.com/watch?v=bcNZlbc_IaE
How do you make your money grow quickly, yet safely? Is real estate a good strategy if you need liquidity in 2-3 years?
In this video, we discuss time horizons for real estate returns and what you could do if you need liquid cash within the next couple years but still want your money to work for you.
Timestamps:
(00:01) Intro
(00:27) The Question
(00:56) Emil's Response
(04:41) Tom's Response
(06:00) Michael's Response
(07:44) Michael Does the Math
(11:30) But What About the Stock Market?
(15:09) Take-Aways
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https://www.youtube.com/watch?v=olPVKmOUtfc
The 1031 exchange is a powerful tool for investors to defer capital gains taxes and put all their gains towards a new investment property. But typically, the 1031 exchange is not available for use on a primary residence. In this video, we'll explain how to do just that.
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https://www.youtube.com/watch?v=6LOxioq4sag
Source:
https://www.podbean.com/eau/pb-uj6eb-d73c00
A common concern of investors considering jumping into the remote real estate game is that of managing properties at a distance. In this episode, Emil, Tom and Michael talk about professional property management and discuss where to start with selecting a PM, what's important for success with them, and share some of their pet peeves when dealing with them. Additionally, Emil tells about his next investment move, buying a property that requires more extensive renovations as apposed to a turn-key property.
Segments: Toe Dipping, Making Moves
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https://www.youtube.com/watch?v=R73V6qRCJQQ
Keeping yourself nimble is key to thriving in a dynamic market. In this episode, we cover strategy pivots, multifamily turns and consolidating your vendors to same time and energy to make your life easier.
...
https://www.youtube.com/watch?v=IyRX3xnsuCY
Source:
https://www.podbean.com/eau/pb-azd46-f56aa3
In this short episode Tom and Michael cover an important issue you need to consider if you recently transferred funds into your account for a down payment.
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Transcript
Tom:
Greetings, and welcome to the remote real estate investor. Today we're going to talk about financing, specifically eligibility of funds to be used for your down payment and be held in reserve.
Alright, let's do it. Michael, why don't you lead us on this little riff of today's weekend wisdom?
Michael:
Yeah. So it's, I think, a really important topic to touch on, because I think it catches a lot of people by surprise. And really what it is, is is called seasoning the funds. And that's not like seasoning your cast iron skillet or seasoning your food. It's, it's having the funds available in the account for long enough to satisfy the lender, such so that they understand that those are your funds. So I'll give you an example of this. I had a lender Tell me, Michael, your down payment needs to be in your account three months in advance of the loan funding. So there was a small inheritance that I received when a family member passed. And so that came in, and that's kind of what made me decide to buy this property that I was going to and the lender was like, Whoa, what's this big check deposit here, you can't use that as part of your down payment. And so I had to write a letter of explanation and explain what's going on and show them a death certificate and all this kind of poop law stuff. But so just be aware of that.
For a lot of lenders, I don't know if three months is like the Fannie Freddie conventional loan minimum requirement or the standard that set but that's what it was, for me with this particular lender was I had to have the funds for the entire down payment in the account sitting there three months prior to funding. And so if you're going to be using a keylock or some other form of funds that aren't in your account, right now, just you want to talk to a lender about how long you need to have the funds sitting there. And I don't know how it would work with like, a sale of stock portfolio or that kind of stuff, I think, because they look at all that when they underwrite. So my guess is that they would be okay. And I think what they told me in the past was, we need to see the amount going from your stock portfolio to your bank account. And you need to show us like the bill of sale, essentially, from the stock portfolio. And that number needs to match up exactly, so that I can prove that the money came from my own stocks and went to my own bank account.
Tom:
Yeah, that's a great rule of thumb, I think 90 days, and you'd be surprised how unique each bank and each lender is on these types of requirements, tak
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https://www.youtube.com/watch?v=6-zwJ0Ao6GU
Kendall Bazan is a data-driven marketing professional with 10+ years’ experience, with a focus on fintech and investment management software. She previously worked for a large, multinational enterprise software company and came to Fund That Flip when there were fewer than 20 people on board. She has helped grow the company from originating $50million to over $500million in the past three years, doubling the customer base each year with exponential revenue growth. She is also a new real estate investor herself, after her and her husband both their first rental properties in Columbus, OH in early 2020!
In this episode, Kendall shares what people should be thinking about if they want to take on a fix and flip project in today’s market.
Episode Links:
https://www.linkedin.com/in/kendallkrawchuk/
https://learn.fundthatflip.com/real-estate-investing-blog/author/kendall-bazan
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https://www.youtube.com/watch?v=XKQskoOK2Zw