In this 2 hour and 13 minute class, Brian (and a little bit of James) take your questions live and answer them.
Topics Covered
Since this is the equivalent of a “call-in show”, the topics covered are diverse. For future classes of this type, we were looking to solve challenges like:
- What real estate investing issues cause you to lose sleep?
- What concerns do you have now or in the future?
- What are you having issues with?
- What are you fearful about in real estate investing?
- What's preventing you from getting your next deal done?
- Why aren't you taking massive action now?
Here's what was actually discussed in the recording:
- COVID-19 Update
- Taxes (and specifically reducing taxes) on the Nomad™ investing strategy
- Setting real estate goals and The Phases of Financial Independence™
- Getting the money to do deals
- Pulling out equity for investment
- A property management question about a specific tenant challenge
- Analyzing Nomad™ deals using Brian's Deal Analysis Spreadsheet
- Renting out a house by the room or to one family/group and a brief mention of occupancy limits in cities in Northern Colorado which we usually cover in the House Hacking classes.
- Should we have videos of our properties for virtual video tours during COVID-19? We've been telling you to do videos even before COVID-19 in our Property Management Classes… so YES!
- Should you list a property to sell now or wait with COVID-19? In most cases… wait if you can.
- In our current market should you stretch yourself financially or wait? Complicated answer, but in most cases… build up reserves and wait.
- Crystal ball out: will rents go up, stay the same or go down? My crystal ball says they will stay level for a bit, but James felt it was a deceptive question, because what they're really asking about is cash flow and that's a slightly different answer.
- Are our opinions specific to Northern Colorado? Yes. How would this apply to Denver? Very similarly.
- Impact of extremely low oil prices on oil and gas industry and specifically Greeley real estate market. Some, but not significant.
- Briefly discussed: forbearance to boost cash flow and buff up your reserves, what you should be doing during COVID-19 lockdown as a real estate investor (hint: analyze deals), being careful about who you idolize.
- Plus some other minor discussions and tangents.
More Miscellaneous Classes
Check out some of these other classes that cover miscellaneous real estate investing topics: