All Forum Posts by: Mike Eichler

I typically see first-time home buyer loans at a 5% down payment which is great for my new home buyer clients as they can get at a very low cost to them. They love it because they can finally stop renting and get. place of their own. If you have any questions feel free to reach out to me and I can provide more info if you'd like.

I appreciate the advice, I am mostly looking to be working with investors. I love the advice of telling everyone about what I do. 

Hey guys I have recently become an agent and am looking for experienced agents to provide some tips and tricks of the trade to a new agent like myself. Feel free to go off!!

When thinking about posting your place, take good care in the order of pictures of your place in the listing, make sure to emphasize the first photo that people see. If the first picture is great that will of-course lead to more people clicking to see more, instead of just scrolling past. If there is a particular room or space in the house that looks really cool and exciting, make sure to use that as the first picture that people will see. 

@Brandon Rush Wow, havent heard of that one, sounds like a great book, I love the concept of using others' strengths to combat your weaknesses and vice versa, I will have to order this book right away and give her a good read! Thank you for the great recommendation

In my opinion I would say do what will allow you to collect solid cashflow easily, since you say you are wanting to stack up cash I would go with making the current property you have into a STR... so I'm saying option 2 is what I would go with, because you get to keep the property, you get a bunch of needed cash from equity out and you still have that property that can provide probably solid cashflow for you and your partners. You also have that chance of as you say the high future valuation range which would be very nice in coming years. Also with this strategy you can always reevaluate your situation in 6 months and change to either 1 or 3 leaving all options open. Let me know what you think of this.

We have all heard of Rich dad poor dad, but what are some of your guys's favorites. One of my all-time favorites is Essentialism, by Greg Mckeown, the book completely changed my life, the biggest thing it teaches you is how to remove the non-essentials from your life, the quote "less is more" is referenced because it means that by getting rid of the unimportant things in your life you actually have more time and better time to do the things that actually matter, it explains how most people believe that being "busy" is productive but it is actually not, only when you learn the mantra that If you don't prioritize your life, someone else will. can you truly be Essential.

The first and most obvious way is of course, "budgeting" this can help you save money and reconsider going out to eat or going to the park instead of some kind of expensive attraction. another great way is cooking at home, you can save a TON of money by simply buying food to cook at home instead of ordering door dash or going out to the restaurant. For you guys with girlfriends, a simple movie at home with some home cooking will make her just as happy as an expensive movie at the IMAX and of course, you have to the XL popcorn and candy with drinks. These are just some simple easy-to-do things that can be done to save more money to get you into your first or next deal just that much quicker

When I try to look at new markets, I like to look at the listings right on Airbnb first, look at if the current BNB's are performing well?. are there many total trips or few, what do the comments of these listings look like?. are they full of unhappy people?. Are these people unhappy because of the area or that particular Airbnb, does the owner not care/know what they are doing, (that is really good because you can take their guests with better pictures/overall experience). 

I like to use an app on my phone called "mint" mint allows you to create separate budgets for whatever you want, whether it is the next rental Property, the next vacation... whatever, it also pulls all of my accounts all into one place which allows for easy tracking of all my finances in one place. #NotSponsored just really love the app and have found it to be very helpful for me.