Today we conclude the presentation from last time about how to build your personal network. Plus I have a bunch of questions from you and I’m going to give you some answers.
How to contact us
www.RogerBlankenship.com. Leave a voicemail right from the home page!
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Call our National Comment Line: 877-55-ROGER (76437) ext 1. Leave your message or your question.
Email your questions to questions@rogerblankenship.com. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind.
Sponsors American IRA: www.americanIRA.com
Civic Financial: bit.ly/CivicFinancial
Bay Mountain Capital, lending in the southeastern region
FlipStarter Online! www.flipstarteronline.com
The online course “Show Me the Money” bit.ly/dealfundingcourse 56firedome
Coaching Course: Six Months, begins July 8, reg $5967, use code hopflipjump for 50% off for a limited time.
Announcements: - The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
- Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
- FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities .
- “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.
News: Quicken Loans has filed for an IPO. Could be the the biggest of 2020.
- Mortgage rates are at 2.9% - the lowest in history!
- Credit availability is still tight - toughest in 6 years - across all loan types.
- Mortgage applications are up for the 8th straight week.
- Part one: why we won’t see a spike in foreclosures https://www.housingwire.com/articles/pulse-does-the-mortgage-industry-view-foreclosure-as-a-last-resort/
- Nice explanation of how lots of foreclosures damage value. https://www.housingwire.com/articles/pulse-how-should-we-think-about-foreclosures/
- The answer is “yes” https://www.housingwire.com/articles/pulse-will-servicers-be-able-to-flatten-the-curve-in-foreclosures/?utm_medium=email&_hsmi=89019253&_hsenc=p2ANqtz-88RdfAMYsnRkdgeO868tu2jqH2ccT1q_CtAjF4T0RA7j1aRZpn8dxfpx2LKSq1vOSt3gaEKC9wujKQZF7wY36e6NesRyBSorJyACtGTROhSShwVAU&utm_content=89019253&utm_source=hs_email
- Paul Centopani from National Mortgage News is predicting home prices will recover fastest in cities that have a lot of IT and finance jobs.
- Housing Starts rose 4.3% in May, which sounds good until you hear that a 22% increase had been expected.
- CEO of Opimus says the US economy is bouncing back nicely.
- Housing is going to lead the economic recovery. https://www.cnbc.com/2020/06/16/coronavirus-update-homebuilder-sentiment-posts-biggest-monthly-surge-ever.html
- The average lease of a Manhattan apartment plunged 62% year over year in May. High end apartment lease prices are dropping all over the country.
Questions: Send your questions to questions@rogerblankenship.com
- Jay, Atlanta, GA “Where can I get a list of foreclosures?”
- Sandy, Mentone, AL “How would you approach real estate investing if you live in a small town?”
- Daniel, Jacksonville, FL “I hear your prophecy about foreclosures and home prices and I think you’re right. But I wonder what this means for me as an investor. Should I be doing something about this info?”
- Carolyn, Boulder, CO “Do you have suggestions for actually seeing a home when the seller is concerned about the pandemic?”
- Marvin, Washington, DC “Should I start with wholesaling and move up to fix and flips?”
- Aaron, Harrisburg, PA “Thanks for this information and for answering everyone’s questions. I’m wondering where you think the best opportunities are for new investors?”
- John, Pittsburgh, PA, “We have a house that is just over 100 years old. The foundation is good. We can make a little money if we remodel what is here and sell. If we add 600 more square feet, out back of the house, we can create a cool floor plan and sell for a lot more. Theoretically we will make a lot more, but it will take a lot longer to do. I think there are unforeseen problems with that plan, but I don’t know what they could be. Can you help me here?
- Willa Fae, New Port Richey, FL “I have 12 rental houses. Seven of them are paid off. The other five are more than half paid off. I watched a webinar the other day and the gentleman was teaching about returns on rental properties. He said something about return on equity I didn’t fully understand, but I get the idea I should be re-financing all my properties to get the best return. I don’t know what he meant, but I know I’d be putting less money in my pocket every month and I need this to live on. I’m 74 years old and my husband died ten years ago.”
Motivational Thoughts for the day
“If we cannot end now our differences, at least we can help make the world safe for diversity. For, in the final analysis, our most basic common link is that we all inhabit this small planet. We all breathe the same air. We all cherish our children's future. And we are all mortal. ― John Kennedy [Commencement Address at American University, June 10 1963]