Alan Corey shares his sister show with us called "Investing with House Money" which is a podcast targeting first-generation real estate investors. Give us a follow and like over on the House Money Podcast.

House Money Podcast Episode 13 includes:

House Money Weekly

In this week’s House Money Weekly segment, your hosts discuss blog 115 – what do look for in an inspection. Even though they cost $500-$800, inspections are very, very worth it. None of the hosts have had a clean report, though, so that’s to be expected. Alan thinks of inspections as an opportunity to ask for the price of problems found, plus a headache fee. Thus, you get the cost of your inspection back. Alan tells a recent story about the reason a client backed out after an inspection. Tom accuses Alan of being a slum lord. Alan also suggests running potential improvements by the inspector. The number one thing to look for in an inspection is water damage and intrusion.

Real Estate Is Easy Interview

Lauren interviews Nita the inspector! She’s from Cleveland, and she got into this space from seeing a lot of bad inspections from her own properties and her clients. Nita talks about what it takes to become an inspector. She has many opinions about the future of the inspection space and changes that should be made too, which is interesting. Naturally, Lauren and Nita dive into what an inspection is, what they cost, what the reports are like, and what to look for. Nita had an interesting answer to the question, how do you make real estate easy? She simply decided not to quit.

Teatime with Tom

Tom’s segment is about being trendy – how do you update without being trendy? Specifically, we’re seeing a lot of white brick and black trim. Alan figures trends last 10 years, but he’s doing a lot of black and white tile to try to combat this effect. Sheet rock is fine, but it’s the wainscoting and shiplap that we’re seeing that’s going to be dated. What about brown paneling? Lauren says she might leave it if she bought a place with it now. Tom learned lessons early that putting in trendy things in rentals is less important than putting in finishes that will last. Alan is updating his primary and isn’t thinking about value, rather, he’s thinking about enjoyment. Tom feels the same.

Real Estate Is Easy Interview

Lauren interviewed Humzah Khraim, a landscaping professional from Atlanta. Landscaping, according to Humzah, exists to both protect the house and enhance its beauty. Of course, homeowners and investors alike are looking for curb appeal. Once we work within nature, within our climate zone, we can make that happen. Humzah recommends building relationships with people you get along with, from plumbers to electricians to landscapers. They will steer you towards sustainable options. What’s the highest return on investment? Getting that inside-outside living vibe. But stay away from wooden decks by using pavers or stone. Should tenants be responsible for taking care of the yard? Probably not. Humzah emphasizes building beautiful neighborhoods and being a good steward of your property.

House Money Weekly

This week, the House Money hosts discussed House Money 106, should I wait for interest rates to drop? Now could actually be the best time to buy, according to Alan. If it cash flows today, great. If interest rates go up, no problem. Keep the rate. If interest rates go down, no problem. Refinance it. Lauren added that the idea of Dollar Cost Averaging (DCA) is talked about when it comes to the stock market, but we should apply it to real estate as well. Just keep buying. Tom’s first rate was 6.875% 18 years ago. His highest is 7.5% now. Alan points out that real estate isn’t getting rich quick, it’s getting rich eventually.

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Teatime with Tom

New regulations with Dallas short-term rentals. Remember to have a black-up plan for your short-term rentals. Be ready to pivot to long-term rentals or mid-term rentals. In this case, the Dallas regulation change shouldn’t be a huge surprise, as it was months in the making, but they didn’t grandfather any in.

Follow House Money Media:

https://twitter.com/HouseMoneyMedia

https://www.instagram.com/housemoney.media/

Follow Your Hosts:

Lauren:

https://twitter.com/AdultingIsEasy

https://www.instagram.com/adultingiseasyreal/

Alan:

https://twitter.com/RealEstateMaxi

https://www.instagram.com/realestatemaxi

Tom:

https://twitter.com/Thefrugalgay11

https://www.instagram.com/thefrugalgay11

In today's episode Alan Corey is joined by Randy Smith, a real estate investor from Phoenix, Arizona. After Randy had worked closely with small business owners, he was inspired to take a journey to entrepreneurship with real estate.

Randy was using the money he was making at his 9-5 to start buying investment properties with his wife. After making some mistakes at the beginning, Randy didn't give up and found the niche and strategies that work best for him.

Check out Randy's website: https://www.impactequity.net/
Follow Randy on Instagram: https://www.instagram.com/randysmithinvestor/

Follow Alan on Social Media: https://twitter.com/realestatemaxi
Check out Real Estate Investing with House Money: https://podcast.housemoneymedia.com/

Get a free mortgage consultation here: www.jasminemortgageteam.com