In this episode, I interview Realtor Joshua Lezcano about a recent deal he did using seller financing.  This isn't your average -ordinary real estate deal...

Cash Flow Guys Podcast

323 - Sold by Seller Financing with Joshua Lezcano

In this episode, I have a big announcement we are pretty excited about for those interested in our Key West opportunity or wanting to learn alongside of us.  Tune in to hear all about it.

322 - Let's Chat, Shall We?

In this episode, we're going to cover four metrics that most investors don't ever talk about that you must understand to prosper as a rental operator.  As I mentioned at the beginning of the episode, if you'd like to help out the Key West Wildlife Center you can visit HTTP://CashFlowGuys.com/Birds today to make a one-time or monthly donation.  I am speaking for the birds when I say "We Appreciate you!"

321 - Top 4 Things You Need To Crush It With Short Term Rentals

320 - Better Than Profits

In this episode, we discuss the likelihood of a shift in financial markets and how to avoid making a potentially bad situation worse.

319 - 3 Things To Avoid Doing If Markets Crash

In this episode, we're going to talk about consequences versus possibilities.

318 - Why Airplanes Have No Mirrors

This week I have a HUGE annnoucement...tune in to listen :)

317 - Its TIME

In this episode, we talk about the benefit of eliminating techno-babble from your vocabulary so that you can be fully understood 100% of the time.  I cover an email that I received recently that was written so terribly that I decided to respond to the author in an attempt for clarity.

316 - How Techno-Babble Hurts You

In this episode, I discuss 7 things that will waste your time and your money in 2022.  This can be a banner year for you...one for the books!  The real question is, will you make it your best year ever?  Dive into this episode to learn how to avoid these traps to be sure your 2022 is the best ever!

315 - 7 Things That Will Cause You To Lose Time & Money in 2022

In this episode, I discuss the Top 10 Expensive Mistakes made when getting into vacation rentals.  If you don't make these mistakes, you'll have a great chance of doing well as a short-term rental operator.  If you repeat one or more of these mistakes, it can wipe you right out of the industry.  Listen in to learn more.

314 - Top 10 Mistakes Made When Investing in Short Term Rentals

In this episode, I discuss why a seller's asking price does not matter in your day-to-day investing activities.  Focusing on the asking price often leads to offers calls not being made, properties not being visited and offers never written. Once you get on board with the fact that all properties are "overpriced" you can move past this objection and focus on learning why the seller is selling, what the pain points are of the seller and what they plan to do with the proceeds of the sale.   Be focused on learning how much income it currently generates and what the potential is for an increase of income.

313 - Price Does Not Matter

In this episode, I discuss what I learned as I left the United States behind me.  Don't miss this episode there's something in here for everyone!

312 - What I Learned by Leaving The United States

When positioning property for sale there are several factors to consider in regard to getting top dollar.  Many homeowners feel that they need to spend money to complete improvements for the next owner of the home whom they have yet to meet.   First, how could you possibly be able to accurately pick what the future buyer would want?  How do you know they want terra cotta accent walls?  What if they don’t like that shade of blue?  These are questions you should be asking yourself before you do any improvements to a property in preparation for sale.   Keep colors neutral so you can appeal to the largest number of buyers.   Cleaning and decluttering often bring more ROI than repairs do.  In over 20 years of selling real estate, I’ve come to the realization that 90% of buyers will complain about the improvements you choose to make.   If you are selling your current home, or perhaps one you inherited, consider first cleaning and decluttering.  Have an estate sale or garage sale and get rid of all the extra stuff.     If you are a home flipper, find a new construction model home in your market and go walk the models.   Notice the colors they choose and the amenities they provide, those choices come from market research.  Homebuilders put lots of effort into maximizing efficiency on new builds, and frankly, doing what they do can save you a fortune.   I know home flippers that follow the other flippers they see in the market in regard to finishings and such without ever visiting a new construction model.  What happens is a classic case of the blind leading the blind.  One flipper makes a bad design choice and is quickly copied by the next ten flippers behind him.  The end result is a bunch of crappy renovations that nobody wants.   I recently had a home seller ask me if they should do any improvements to their home before selling.  It was a really cool historic home located in a great neighborhood that was in full swing in regard to gentrification.  Several homes in the neighborhood have been renovated making the neighborhood a crown jewel of the area.   The seller’s home did show some deferred maintenance but had curb appeal and was in an ideal location.  This home would be a great renovation project for an incoming homeowner in a neighborhood that boasted pride of ownership.  Because of the type of home, it was and the location, it would bring top dollar in its current condition with no money invested in improvements.   I explained to the seller that I could bring them a buyer willing to pay between $550K to $575k for their home as is, no repairs or upgrades, just move out and clean..  Instead, they chose to list it with “the neighborhood agent” for $515,000 in August.  They said the other agent had sold 50+ homes in the neighborhood which is what made them choose the local lady.  They went on to say that the agent said they will need to replace the roof, A/C, refinish floors, paint, on and on which wound up costing them around $30k give or take to complete.   The price dropped $16,000 twenty days after listing, then another $20,000 a week later, then $10,000 two weeks after that, two more weeks dropped the price another $10,000 and it finally went under contract on 10/15 with a list price of $459,000.  It’s still not closed so only time will tell what it sold for (assuming the agent can get the deal closed).   In this case, the seller lost out on $146,000 or more ($30,000 of which was in improvements).  All due to bad advice and an ineffective marketing strategy.   To get top dollar for any property, the whole world needs to know it’s for sale.  You don’t have to try to trick anyone by putting lipstick on a pig, instead, invest that money in your marketing.   Run paid ads on Facebook, Instagram, Youtube, Twitter, Wall Street Journal (for higher-end houses), and so on.  Make the house viral on social media.  Doing so can often bring you more money than ever thought possible in your wildest dreams.   I have so many true stories of how I have used purely marketing strategy to give my sellers heart palpitations when the offers start to roll in.  This happens because everyone with eyes and ears knows the property is for sale.   I truly believe there is a buyer for every house.  In almost every instance, the reason a property isn’t selling isn’t a price problem, its a marketing problem.  The buying public does not perceive the true value of the home because you simply have not found the right buyer.  Without guerilla marketing finding the highest paying buyer will never happen.   Folks, it’s no rocket science to sell your next property at a price so high it sets the market, you just need to hire the right team to help you get it there.  That team can be a Realtor or Wholesaler who is a marketing expert or a marketing expert that will bring cash-wielding buyers to your front door.  Either way, unless you can get people to the front door in droves (without using price as a motivator) you’ll never see top dollar and have to live with leaving money on the table.

311 - Getting Max Value All The Time

In this episode, I’m going to tell you a true story about a situation that happened to me recently regarding one of my properties. We have owned this one since 2014 and currently operate all the apartments as short-term rentals.  In 2016 when we made the switch from long-term to short-term tenancy I met with my insurance agent at the time to be sure I had adequate coverage for the change of use. I figured that the property would be subjected to a bit more use and abuse due to the short-term nature of our tenant’s stays. My agent suggested that I simply purchase an additional liability policy that would cover any claims of damage or liability that stemmed from the short-term occupancy.  The cost of the plan was only $1200 a year which was well within my budget since the property consistently cashflows 10x that or more each month. In 2020, my insurance agent sold his practice to another agent and retired.  I did not find this out until 6 months after the sale which irked me a bit I must admit. After chasing down the new agent for well over two months, I finally received a call back where he explained he has been “busy” with the takeover of the agency. I ask that my policy be reviewed to be sure it still provided adequate coverage for my short-term rental which he acknowledged that it did.   This fall, while speaking with one of the agents in the office on an unrelated issue the conversation came up about policy renewal.  I asked if it was still necessary to have three separate policies due to the Airbnb situation which she replied that my wind policy would not offer any coverage in the event of wind damage from a hurricane or likewise if I was using the units as short term rentals. You can imagine my feeling when I discovered that all along I have been underinsured! If I had suffered a loss at any time over the last 7 years due to a storm or wind damage I would have zero coverage available to me.  Let’s not even get into the wasted money of paying for the wrong policy, EVEN after being proactive about full and unsolicited disclosure about exactly how I operate that property. The agent determined that I had to switch to a commercial insurance policy because of the AIRBNB element.  This increased my annual insurance costs by over $6,000 per year.   As you might imagine I wasn’t real pleased about receiving this news but at the same time, I am thankful the issue was discovered and hopefully corrected. I must say, after this debacle, I am very insecure about whether or not I have the proper coverage.  I certainly don’t want to pay for coverage I don’t need, nor do I want to risk being under-insured. Clearly, I need to have another licensed insurance agent take a look at this situation which has proven to be a challenge all by itself.  It seems no insurance agent in Florida needs more customers.  They don’t answer the phone, respond to email or website inquiries.  Even those who referred to me simply will not respond. After about trying over two dozen companies I finally got one to call me back only to learn that they would not consider quoting the policy without me proving my roof was under ten years old.  I was dumbfounded to hear this because the effective age of a pitched shingle roof in Florida is 20-25 years, yet now the insurance companies have decided that they no longer like that timeframe. Fortunately, the roof was on schedule to be replaced this year anyway so needless to say we expedited that process and are now awaiting the materials to arrive for the roofer to begin the project.  Once that’s done the roofer will provide me a 4 point inspection form and proof the job was completed that I can turn over to my current and future insurance companies. In the end, it’s the cost of doing business.  I could choose to get all upset about it, sell off my portfolio and trade crypto in my Mom’s basement, yet that would be foolish. When I consider the $100,000’s of thousands of dollars of legally tax-free income I have earned from this investment property over the years, the costs I mention in this episode become small and insignificant.   In summary, how you choose to interpret things that happen will make you or break you.  Those that crack under pressure are generally the same people whose property I wind up buying at a bargain price because they simply chose to fail.  Instead, choose to succeed, find a solution because I assure you there is a solution for each and every problem you face.

310 - Keep Your Asset Covered

In this episode, I uncover a recent discovery I made (by accident) and how you can profit from it.  The iBuyer craze is taking America by storm until this week, Zillow jumped off the bandwagon, cut loose 25% of its staff, and is dumping inventory like mad.  I'll uncover how you can leverage this service to your advantage no matter if you are a seller, Realtor, Wholesaler or Rehabber.  Don't miss this one!

309 - How To Make Money From Offerpad

The CashFlowGuys Podcast teaches busy people how to use what they have, to get what they need in order to accomplish what they want. Using tips and techniques from industry leaders in Real Estate Investing and Financial Services, the CashFlowGuys are on a mission to educate the public on all things involving real estate and financial services. Your host, Tyler Sheff interviews experts from around the globe to help people improve their financial intelligence.

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Cash Flow Guys Podcast

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