Most real estate investors face similar challenges, hurdles and obstacles:
- Where do I get my next down payment from?
- How do I overcome negative cash flow or improve the cash flow I have?
- How do I qualify for the best loans?
- How do I find what I'm missing (deals, dream team, partners, tenants)?
- How do I commit to achieving my real estate goals, get the courage to act despite fear, gain the capabilities I need or eliminate fears?
This class helps you solve those challenges and more.
Listen to the audio of this for free on the real estate investing podcast.
I've broken this class up into 6 parts (each one it's own episode on the podcast).
Topics discussed include:
- Part 1 of 6: Introduction
- What's preventing you from achieving your real estate goals? For this class, I break it down into 5 major categories
- Coming up with Down Payments (including closing costs and reserves)
- Overcoming Negative Cash Flow
- Qualifying for Loans
- Finding What's Missing
- Inner Game
- Many of these topics have been their own 2-hour classes by themselves (and I'm sure I'll revisit them in the future)
- Riddle of the farmer, chicken, bag of grain and fox: sometimes the solution to your challenges are not linear or obvious
- Often times there is more than one solution/challenge
- Will these solutions work for me?
- Part 2 of 6: Down Payments
- Strategies to reduce the need for down payments and strategies to produce down payments, closing costs and reserves
- How to reduce the need for down payments
- No Down Payment Loans
- Creative Financing
- Sources of down payments
- "Investment Cards" (aka Credit Cards)
- Security Deposit
- Maintenance Reserves
- Property equity (sell, refi, pledge)
- Depreciation (and other delayed taxes/refunds)
- Retirement Account
- Family Members (Legacy Nomad™ or Nomad by Proxy™)
- Sell stuff you don’t need or want
- Rents (including House Hacking)
- Lease-Option Fees
- Part 3 of 6: Negative Cash Flow
- Cash Flow = Income - Expenses
- Reduce expenses and produce more income
- Lowest Monthly Payment Guarantee™
- Maximum Cash Flow Guarantee™
- Strategies to Reduce Monthly Payments with Your Lender
- Strategies if You Own Other Property
- Strategies When Searching for Homes
- Strategies When Making Offers
- Strategies When You Own/Manage Properties
- Strategies to Maximize Income
- Part 4 of 6: Qualifying for Loans
- Overcoming Income Challenges (and Debt-To-Income) to Qualify for Loans
- Overcoming Credit Challenges to Qualify for Loans
- Overcoming Loan Spot Limitations for Getting Loans
- Part 5 of 6: Finding What You're Missing
- Finding Deals
- Building a Dream Team to Support You
- Finding Partners
- Finding Tenants
- Part 6 of 6: Inner Game
- Making a Commitment to Being Successful
- Finding Courage to Follow Through on Your Commitment
- Building the Skills and Capabilities to Be Successful as a Real Estate Investor
- Overcoming Fear
- Plus much more
In this presentation James mentions some other classes:
- How to Improve Cash Flow Workshop
- How to Get Down Payment – 2020 Edition
- Financial Mindset and Overcoming Fear – 2019 Edition
- Real Estate Investor Financing After Coronavirus
Duration: 1 hour and 34 minutes
Recorded: August 17, 2022
Instructor: James Orr
Note: I also call this class "Overcoming Obstacles for Real Estate Investors". Same class... just me messing up the title (repeatedly).