The Science of Finding Deals - Part 6: How to Profit In Any Market
Friday, August 14
As part of boiling down finding deals into a science, you got to KNOW your market (from now on, to avoid confusion, I am going to call this your AREA). Also, you got to know what market cycle (I will refer to market cycles from now as "market" for simplicity) your AREA is currently in. Why? You c...
The Science of Finding Deals - Even on the MLS!
Sunday, July 26
In a Biggerpockets Meetup Group in Chicago where I was invited as a guest speaker, I’ve been asked the question: “How do you find these good deals, Wendell?”My answer: you got to boil down finding deals into a science.Donald Trump wrote the book “The Art of the Deal” and even though it’s a good r...
How to Estimate Repair Cost in 5 Minutes or Less Using "Shortcuts"
Monday, April 27
Every Thursday, I give a training to my Acquisition team. In the video below, I trained my acquisition team how to estimate repairs in 5 minutes or less using "hacks" or "shortcuts". I compared their "guestimates" with repair bids from our General Contractor's actual quotes. See how you fare and ...
Hack of Wk of 10/27 - How to be a Diligent Wholesaler
Wednesday, October 29
Wholesaling has a bad reputation in the real estate industry. It's swamped with graduates of "get-rich-quick-through-wholesaling" courses of the gurus. It has low barrier to entry because you get people with no money and no credit jumping in the industry and all they need to do to be called a who...
Hack of Wk of 10/20 - Why Paying Off Debt is NOT Necessarily Smart
Monday, October 20
The "Hack" of this week is NOT the usual technique that you can implement in your real estate business. It's rather a different way to analyze a deal and a different way to look at debt. Before I discuss how to do this analysis, let me first discuss the importance of leverage.Leverage and 3 Types...
"Hack" of the Wk - 10/13 -Landlords Learn from Credit Card Companies!
Monday, October 13
Landlords, are you having problems collecting rents? Last week, in my "Hack" of the week, I provided Check Authorization as one way to avoid having to chase the rent of your tenants - by being able to print the rent check of your tenant from your own printer. Here's the link:http://www.biggerpoc...