There’s not one clear, defined path to building wealth. When faced with a decision, you should always analyze your entire financial snapshot, including your Freedom Number. Today I’m sharing how you can assess whether or not to sell a rental property—and more!
On this Q&A episode of Investing in Real Estate, I’m answering three of your questions on deciding what to do with a paid off property, options for non-recourse financing, and how to find wholesaling leads. Press play to hear my answers to your questions!
On this episode you’ll learn:
- How to evaluate what to do with a paid off rental property.
- The best way to get up-to-date info on financing options.
- Methods for finding wholesaling leads.
- And more!
How to Evaluate What to Do with a Paid Off Rental Property
Everything I do in real estate comes down to the Freedom Number. There are a wide variety of options you can pursue with a paid off rental property—refinancing, HELOC, continue renting, 1031 exchange, and more. The right option for you will depend on your goals. I would recommend first calculating your Freedom Number and then deciding where to go from there.
The Best Way to Get Up-to-Date Info on Financing Options
The banks that we work with are constantly changing and evolving their programs. Non-recourse financing can be an excellent option for buying rental properties, but it’s important that you work with someone who can help you determine what program is best for your situation. If you have an existing contact on our team, you can reach out via email. Otherwise, book a free call at morrisinvest.com.
Methods for Finding Wholesaling Leads
While direct mailing is a tried-and-true way to find wholesaling leads, there are a few newer, shinier methods that can be more cost-efficient. I would consider looking into virtual driving for dollars, as well as radio ads!
Ask Me a Question at morrisinvest.com/clayton
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The Power of Non-Recourse Financing for Building Wealth
The Fastest Way to Make Money in Real Estate with Zack Boothe
The Real Estate Marketing Channel No One Is Using with Chris Arnold
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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