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Step 1: Watch video (or read PDF) on how to acquire your first or next rental with $0

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After finishing Step 1 and learning how to acquire a rental with $0, if you do not know the following information listed below in Step 2 and Step 3, I highly recommend you learn it, in order to:

  1. Avoid buying the wrong property and losing money

  2. Maximize cash flow / passive income as well as wealth through equity

Step 2: Remaining information you need before acquiring your rental

Now you will know how to purchase a rental property with $0.

 

Before you acquire your property with $0, you will need to know:

 

  1. Where to invest (in your city vs. out of town vs. out of state)

  2. Where to invest in that chosen market (which neighborhood, street, etc.)

  3. What size to buy (small residential vs larger commercial)

  4. What type of property to buy (SFH vs. Duplex vs. 4-Plex vs. Apartment)

  5. How to find the best deals on rental properties

  6. Most important real estate numbers to know for analyzing potential investments (CoC, ROE, NOI, Cap Rates, DSCR, ARV, LTV, 1% rule, etc.)

  7. How to analyze to find the best investments (to know if worth investing and if it is a good investment / deal)

  8. What to look for and look out for with an inspection

  9. Best negotiation tactics for purchasing your property

  10. Other financing methods for purchasing your rental property (with $0 of your own money)

  11. Whether to have property management (DIY via self managing or hiring a PM)

  12. Best updates to make to your rental (to attract tenants + increase cash flow + increase equity)

  13. How to maximize cash flow on your rental

  14. What insurance you will need

  15. Whether you should use an LLC for your rentals

  16. Refinancing your rentals

  17. What to do or not to do

  18. How to access your equity tax free (rather than selling an incurring taxes and other costs)

  19. When to sell your rental property

  20. and more

Step 3: Remaining information you need after acquiring your rental

Additionally, after you acquire your rental with $0, you should consider managing your properties yourself.

 

Doing so can save you around $2,000/yr per unit, or around $50K per 10 units or $100K per 50 units.

 

This is why my wife and I managed our own properties.

 

After you acquire your rental and if you decide to manage yourself to increase cash flow, you will need to know:
 

  1. How to find and select the best tenants (minimizing your time, reducing headaches, dealing with less calls and complaints, increasing paying on time and renewing, etc.)

  2. How to minimize your time involved (leading to more passive investments)

  3. How to minimize headaches with managing properties (such as not directly deal with issues, such as repairs)

  4. How to set your qualification standards (leading to approving and renting to the best tenants)

  5. How to determine the price to set rent (including our counterintuitive strategy that has led to finding the best tenants)

  6. How to market your property to get the best tenants (including the best places to market, including where others usually do not)

  7. The correct way to deny a prospect (without knowing this, you can get yourself into a bad situation)

  8. How to approve your new tenant

  9. How to create your lease and addendums (easy method)

  10. How to handle the move-in process

  11. How to handle tenant communication (these are the best approaches we have found to work)

  12. How to maintain your property

  13. How to find and work contractors (important, as this will save you considerable time)

  14. How to inherit tenants from new properties (very important, given if you buy a property with existing tenants, you will need to know how to deal with this)

  15. How to handle lease renewals and non-renewals (including whether to raise rent and how)

  16. How to handle the move-out process

  17. How and when to return the deposit after move-out (must be fully aware of this by law)

  18. How to give a notice related to non-payment or other issues

  19. How to handle evictions (learn the best and easiest way to avoid this but how to handle if needed)

  20. How to handle accounting, expenses, tax deductions (easy-way)

  21. and more

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