EP149: How to Use LinkedIn to Grow Your Wealth - Interview with Donna Serdula

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This episode is sponsored by Casper, an obsessively engineered mattress at a shockingly low price. Visit casper.com/iire and use coupon code IIRE at checkout for $50 off your mattress!

Making connections can be an integral piece of growing your real estate portfolio. Whether you’re looking for fellow investors or private money lenders, growing your network via LinkedIn can create amazing opportunities. But in order to do so, you must know how to properly optimize your LinkedIn profile.

On today’s show, I’m interviewing Donna Serdula, an expert in LinkedIn profile optimization! Donna is here to share the power of LinkedIn, and how to properly optimize your portfolio in order to engage with your target audience. Donna is also critiquing my LinkedIn profile and sharing what I should do differently. Don’t miss episode 149 of Investing in Real Estate!

More About This Show
When Donna Serdula first started using LinkedIn, she thought of it as a digital resume. She simply uploaded her experience into the platform, and ultimately was unable to reap the full benefits of LinkedIn. But things changed a few years later when she began making cold calls.

Donna realized that her prospects were Googling her, and finding her old out-of-date resume on LinkedIn. In that moment, she had an epiphany—using LinkedIn is a way to present yourself. It’s not just an online resume; it’s a way to brand yourself, and to shape how others perceive you.

Donna decided to change her LinkedIn profile to better reflect who she was, what she did, and what her target audience needed to know. Doing this immediately led to success. She found that her prospects were engaging with her sooner, they trusted her, and they wanted to work with her.

This realization prompted her to begin her own business. In 2009, she began her company LinkedIn Makeover. Donna and her team help thousands of LinkedIn users strategically write their profile in order to engage with their audience and grow their brand.

On today’s show, Donna is sharing some of her tried and true LinkedIn secrets! She’ll elaborate on what you need to do to engage with your audience, including what tone to use, how to select a photo, and more! Donna has so much knowledge on this topic—you won’t want to miss episode 149! 

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family. 

On this episode you’ll learn:

  • Should you write your LinkedIn profile in first or third person?
  • What are the three things you should do to make the most out of LinkedIn?
  • What is the importance of the first two lines in your LinkedIn summary?
  • What is Donna’s foolproof secret for curating recommendations?
  • And much more! 

Episode Resources
Casper
LinkedIn Makeover
LinkedIn Profile Optimization for Dummies by Donna Serdula
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

Contact Donna Serdula
Website
Twitter
LinkedIn

Interview with Donna Serdula: How to use Linkedin to grow your wealth

EP148: All About Getting Insurance for Your Properties

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This episode of Investing in Real Estate is brought to you by Harry’s. Harry’s offers high quality razors at half the price of drugstore brands. Harry’s is so confident you’ll love their blades, they’re giving you a trial set for free—you just pay shipping! Visit Harrys.com/realestate to get your free trial set!

Insurance is an important part of owning rental properties. It can be complicated to determine what kind of coverage is appropriate for your portfolio. And until recently, Natali and I simply trusted our insurance agent’s direction. In hindsight, that isn’t a very hands-on approach to running our business.

On this episode, Natali is sharing the book that changed how we approach insurance for our rental properties. We’ll overview different types of coverage, taking authority over your insurance, and more. Don't miss episode 148 of Investing in Real Estate!

More About This Show
Because we get so many questions about insurance, Natali decided to do some research. She read a book called Wise Up: The Savvy Consumer's Guide to Buying Insurance. Natali gained a ton of insight from this book, so today we wanted to share what we've learned about insurance. When you take a look at your insurance policy, you’ll see a list of coverage, organized by letter.

A is for damage to the house. For this coverage, the insurance policy will assess what it will cost to rebuild the house in the event of a loss. This has nothing to do with the market value. For example, on one of our $40k rental homes, we might have coverage for $50k. This is a reasonable amount to rebuild the home in the event of a fire.

B covers damage to any other structure. This coverage extends to things like a detached garage, shed, or fence.

C covers your personal property inside of the home. For example, this covers televisions, computers, artwork, and other belongings.

D is for additional living expenses. If the situation arises where you can no longer habitat your property, this insurance would pay for your living expenses.

E covers personal liability. If someone were to get injured on your property and you were found legally responsible, this coverage would apply.

F is for medical expenses if someone were to get hurt. This coverage applies to any costs for the injured person.

On today’s show, we’re sharing more of what we’ve learned about insurance. We’ll discuss umbrella properties, renters’ insurance, and how to empower yourself in finding the best policy. We’ll talk about liability, and how we’ve chosen to structure our policy. Please join us on episode 148 of Investing in Real Estate! 

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

On this episode you’ll learn:

  • What is a CLUE report?
  • What is a good rule of thumb for liability coverage?
  • How do insurance comparison algorithms work?
  • What does a personal auto insurance policy cover for rental cars?
  • Should you require your tenants to have renters’ insurance?
  • And much more! 

Episode Resources
Harry’s
Clayton Morris on Twitter
The Verge article
Wise Up: The Savvy Consumer’s Guide to Buying Insurance by Amy R. Bach and John P. Sullivan
United Policyholders Home Inventory app
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

What you need to know about getting insurance for your rental properties | real estate investing

EP147: Got to Have Skin in the Game

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This episode of Investing in Real Estate is brought to you by Blue Apron. Blue Apron’s mission is to make incredible home cooking accessible to everyone. Check out this week’s menu and get your first three meals free and free shipping at blueapron.com/investing.

In our family, we love the musical Hamilton. I recently saw it for the second time, and as I listened to the performance I was reminded of real estate. In the song, "The Room Where It Happens," there’s a line about having skin in the game, and I couldn’t help but think about how it applies to investing.

On this episode of Investing in Real Estate, I’ll talk about the importance of having skin in the game in a deal. I’ll share a real life example, and discuss the downsides of handouts. Don’t miss episode 147!

More About This Show
I got started in real estate by working with my mentor in wholesaling, Tom Krol. Tom has an incredible, proven program that helps investors learn how to make large profits off real estate deals. If you’re interested in learning more, watch my video with Tom, and sign up for a strategy session with his team.

In my experience working with Tom, I witnessed him give his course away to people who would proclaim that they didn’t have any money. The course is packed with value about how to make money wholesaling; it’s worth every penny. But time and time again, the people who received the course for free would never take action!

But those investors who put their own hard-earned money toward the course would meet success. That’s because when you have financial stake in something, you care more. You’re more likely to perform when you’ve invested!

If you buy rental properties with 100% financing, you have no skin in the game. I’ve seen it happen in my own portfolio—the properties that I own free and clear perform the best. I care the most about them because I’ve contributed to them.

On today’s show, I’ll discuss how having skin in the game can bring you closer to financial freedom. I’ll explain how this principle applies to both traditional banking and private money. Don’t miss this episode of Investing in Real Estate!

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

On this episode you’ll learn:

  • What are the origins of the term “skin in the game?”
  • Why do banks require a 20% down payment on a loan?
  • Why are handouts more harmful than helpful?
  • How can free and clear properties help you achieve financial freedom?
  • And much more!

Episode Resources
Blue Apron
MorrisInvest.com/wholesaling
Private Money Series
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

This episode of Investing in Real Estate talks about the importance of having skin in the game in a deal. (Plus what that means.)

EP146: Using HUD Homes to Get Started in Real Estate - Interview with Larry Goins

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This episode of Investing in Real Estate is brought to you by Dell. Dell offers a wide variety of high quality printers with tons of great features. Dell’s printers are easy to install, and inexpensive to maintain. For 40% off your order plus free shipping, visit Dell.com/real and use discount code REAL.

There are many different approaches for getting into real estate investing. There’s no wrong way to begin, but buying your properties under market value is the key to high return on investment. One way to find properties under market value is by bidding on HUD homes.

On this episode of Investing in Real Estate, I’m sitting down with real estate investor, author, and educator Larry Goins. Larry is one of the largest HUD property buyers in the Carolinas, and he also invests in 12 different states. On today’s show, Larry is sharing his insight into the world of purchasing HUD homes!

More About This Show
Larry Goins has been investing in real estate for over 20 years. He encountered his first HUD deal in the 1980’s. Since then, he has loved working with HUD homes. Larry explains that what he loves about HUD homes is that he never has to worry about bandit signs or direct mail; all HUD deals are conducted online.

All HUD bids are made at hudhomestore.com. It is the only place to buy HUD homes. Typically, there is a 15-day bidding period that is open only to owner-occupants. After that, anyone can bid on the home, including investors.

HUD is a daily auction, and Larry bids on houses every day. All bids must be submitted by an agent, and the agent must be qualified. In order to submit a bid, the buyer must make an offer in writing, submit a deposit, and provide proof of income.

Although HUD properties are already listed slightly below market value, Larry explains that often investors can have even lower bids accepted. For example, in one of his recent deals, the property was listed for $76k. Larry's bid of $26.6k was accepted, at 35% of the asking price! Larry posits that he has found there is a sweet spot to getting offers accepted—which is typically 60-75 days after the property has been listed. 

 

If you’re interested in learning more about HUD housing, you’ll want to pick up a copy of Larry’s book, HUD Homes Half Off. Larry has graciously offered a free copy to our listeners; you can download yours here!

On today’s show, Larry is sharing more details about his investing career, and how to get started purchasing HUD homes. He’ll share the benefits of HUD properties, the cost of a deposit, and how financing works. It’s all here on episode 146 of Investing in Real Estate!

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

On this episode you’ll learn:

  • Where is the only place to buy HUD homes?
  • What is a property condition report?
  • What is an NAID number?
  • What do you need to submit a bid on a HUD home?
  • And much more!

Episode Resources
Dell
Download a free copy of HUD Homes Half Off by Larry Goins
Getting Started in Real Estate Day Trading by Larry Goins
HUD Homes
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

Contact Larry Goins
Website
Facebook
Twitter
LinkedIn

 

 

Buying your real estate properties under market value is the key to high return on investment. One way to find properties under market value is by bidding on HUD homes. Interview with Larry Goins.

EP145: How to Deed a Property to an LLC

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As a real estate investor, there are many reasons why you might need to deed a property to an LLC. We get asked questions about this topic frequently. Since Natali and I recently went through this process, we thought we’d share exactly how it’s done.

On this episode of Investing in Real Estate, Natali and I will walk you through the process of deeding a property to an LLC. We’ll share everything you need to know, including banking information, insurance policies, and more. Join us for episode 145 of Investing in Real Estate!

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The first thing you’ll want to do is transfer ownership. You’ll deed the property from either yourself or the LLC it’s in to the LLC you want it to be in. We have used the services of a lawyer to accomplish this. Depending on your state, you can use either a lawyer or an escrow company.

After the LLC is established, you’ll need to get all of the components in place to ensure the LLC runs smoothly. You’ll need to set up a bank account. Take your new EIN number to the bank and ask for a business account.

It’s also important to consider how this new setup will affect your insurance policies. Be sure to contact your insurance company to transfer the property to the correct LLC.

You’ll also want your property management company to be informed of any changes. They need to know if their check or ACH should be made to a different LLC. If you’re a DIY property manager, then you’ll need to instead inform your tenants.

Additionally, you should call the tax department in the county where the property is located. Inform them of the changes you have made. This ensures that your tax bill will be sent to the correct owner at tax time.

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

On this episode you’ll learn:

  • How much should you anticipate to pay per deed?
  • What is the difference between a quick claim deed and warranty deed?
  • What are the tax implications of transferring a house to an LLC?
  • What should you put in a due diligence spreadsheet?
  • And much more!

Episode Resources
Provision Wealth Strategists
ReadQuick
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

As a real estate investor, you may want to hold property within an LLC. Here's how to deed property to an LLC.

EP144: Panic! Don't Borrow from Your 401k!

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Traditional financial advice will tell you that you should never, under any circumstances touch your 401k. I recently came across an article that used fear-based tactics to convince people that disturbing their retirement account is a serious, dire mistake.

On this episode of Investing in Real Estate, I’m explaining why I vehemently disagree with the idea that taking a loan from a 401k will end in disaster. I’ll share my personal experience, as well as how you can turn your own money into cash flowing real estate assets. Don’t miss episode 144 of Investing in Real Estate!

More About This Show
I’ve taken loans from my 401k; in fact, I do so every year in order to purchase cash-flowing real estate investments. This is a fantastic strategy, because it allows you to borrow from yourself. It also lets you pay interest to yourself, instead of a bank. 

But 401k providers and employers want to discourage you from doing this. They want you to think they care about you and your retirement. The truth is, they don’t care at all about your future. The only reason they’re concerned is because they think if you haven’t prepared for retirement, they won’t be able to instead employ younger, lower cost workers.

It’s disturbing that some company thinks they are a better steward of your money than you could be. It’s offensive to think that they want to prohibit you from borrowing from your 401k. Remember, it’s your money! Add to your net worth! Take that money that’s just sitting in an employer-selected fund, and turn it into cash flow!

I’m not saying you should take a 401k loan and blow that money on frivolous purchases. But purchasing rental real estate is a great way to plan for not only retirement, but also life in general. I implore you to not be panicked by companies who want to scare you. Be the ultimate authority of your finances.

On today’s show, I’ll share more details from the article I read. You’ll learn about financial steps you should take in order to be in control of your finances. I’ll share specific examples of companies’ scare tactics, and much more! 

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family. 

On this episode you’ll learn:

  • What are the three main benefits of taking a 401k loan?
  • What is the federal annual limit for 401k contributions?
  • What can you do with an old 401k account from a previous employer?
  • What percentage of 401k borrowers default on their loan?
  • And much more! 

Episode Resources
EP092: The Mind-Blowing Power of a Solo 401k – Interview with Dmitriy Fomichenko
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

Traditional financial advice will tell you that you should never, under any circumstances touch your 401k. Here's why you might want to if you're investing in real estate.

EP143: Reaching the Top of the Real Estate Mountain - Interview with Joel Block

Book a call with our team: https://goo.gl/dezwHT

When it comes down to making a real estate deal, money is the most important piece of the puzzle. Today’s guest, Joel Block is here to share a higher-level way of looking at your money. This strategy is what Joel calls "reaching the top of the real estate mountain!" 

On this episode of Investing in Real Estate, Joel is sharing his in-depth knowledge into the world of syndication. He’s sharing details about the private placement business, changing the psyche around money, and much more! Please join us on episode 143 of Investing in Real Estate!

More About This Show
Joel Block is a long-time venture capitalist, and a hedge fund manager who speaks at conferences around the country informing audiences about raising capital. Joel also holds an incredible conference twice a year to assist investors in learning how to syndicate properties.

He explains that he got into syndication shortly after leaving an unfulfilling accounting position. He teamed up with a partner, and pieced together his first deal. Joel and his partner purchased a 12-unit apartment by raising capital from 22 different doctors.

That’s exactly how syndication works—an investment is divided into shares of stock. The capital is placed in an LLC, and the LLC purchases the real estate investment. Then each investor owns a fraction of the real estate.

This is an advanced way to construct a deal, because there is no lending involved. The lenders always receive their return first. Then, if the deal was done correctly and wisely, the participants will receive a return.

On today’s show, Joel is sharing more about how to get started with syndication, and why it os so effective in real estate. He’ll also supply all the details about his upcoming symposium. Don’t miss episode 143!  

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

On this episode you’ll learn:

  • What is a non-correlated alternative asset?
  • How many people can attend the Real Estate Syndication and Deal Making Symposium?
  • What is the main limitation of active investors?
  • What are the two key problems with hard money lending?
  • And much more! 

Episode Resources
Deal Making Symposium
Syndicate Fast
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

 Contact Joel Block
Website
Facebook
Twitter
LinkedIn

What it takes to reach the top of the real estate investing mountain. (Interview with Joel Block.)