Be Free RE: Accelerate to Financial Independence through Real Estate
By John and Tony
We believe that traditional FIRE is Financial Independence + Real Estate, not retire early.
Learn how to quit your job, enjoy time with family, and gain the independence and entrepreneurship experience you want by tuning in.
Have a specific question? Call in to 412-212-8366 and we can help.
Hosted by Tony Angotti (@412agent) and John.
BeFreeRE.com
412-212-8366
Be Free RE: Accelerate to Financial Independence through Real EstateNov 15, 2021
066 - How Tony is "FI" as a business owner
Tony has a few different partnerships and businesses. He needs to be answering his phone almost at any minute. Is it really possible to have FI in a situation like this?
065 - How anyone can achieve FI in 10 years
Is it really possible to become FI in 10 years without having a trust fund?
What if you have debt?
What if you don't know rich people to lend you money?
John and Tony talk about a simple path to FI, what that "FI" means, and how it is available for anyone willing to make some sacrifices today for FI tomorrow.
REPUB -- 018 - to LLC or not to LLC?
I know when I was first getting started, there was a lot of mixed advice on LLCs and how to best protect yourself.
ANNOYING CYA DISCLOSURE: WE ARE NOT REAL ESTATE ATTORNEYS AND ALL COMMENTARY IS OPINION AND NOT ADVICE
In this week's episode, we field questions related to how to structure your RE deals.
A quick download on how we feel about LLCs
- If you are doing commercial real-estate, it probably makes sense to use one.
- If you are doing a house-hack, it probably makes sense to skip the LLC and use an umbrella policy instead
- If you are in the middle, ... well you gotta listen to the details!
- Also Tony called a guy renting his place out and got his first deal (that way).
As always please send in your questions to
(412) 212-8366
https://www.instagram.com/befreere/
064 - Tony's journey to FI through RE
Listing in to find out how Tony has built several businesses to take care of his financial needs, all centered around real-estate.
- How he found his partners
- How he left his job
- How he grew his project from partnership to organization
- How he thinks about growing things further and giving opportunity to employees
063 - John's Journey into Enjoying FI through RE
With only 3 duplexes under his belt, can John transition into more relaxed and enjoyable lifestyle?
062 - Buying a Turnkey duplex for 10% down - Tony's Second and Third Deal
Tune in to learn some tips on buying your second (or first!) deal.
- How did Tony get into his second real-estate deal?
- Why did he even buy a second deal?
- Learn how Tony only put 10% for an investor loan
061 - John goes from Deal 1 to Deal 2
How can you save money for your second real-estate deal?
What kind of mindset is needed to get into your second deal?
060 - A Numbers Deep Dive on Tonys First Deal
A more quantitative look at Tony's first deal.
059 - Tony's First Deal
Learn how to think about your first deal by listening to Tony recount the W's and L's from his first purchase.
058 - **UPDATED** First step to FI with real estate (John)
UPDATE - sorry folks! The proper audio is on this episode now. -- John
John and Tony talk about John's first foray into real-estate as they progress towards FI
057 - What Motivated You to FI (Tony)
John and Tony talk about the motivations for FI and how real estate became part of our FI journey
056 - What Motivated You to FI (John)
John and Tony talk about the motivations for FI and how real estate became part of our FI journey
055 - When should I lower the rent on my vacant unit?
Right price? Wrong price? How to know if you need to drop price, set price, or make some improvements!
054 - Scared to jump in on your first deal? Take these tips
Listen to some quick advice from Tony and John about how they think about the first deal "scaries"
053 - Value Add Ideas for your Property
How do I improve expenses?
How do I improve rents?
How do I get a better re-appraisal?
TUNE IN
052 - 10 Hidden Costs in Investment Real Estate
The 10 things that Tony sees people forgetting to think about...
051 - Tenant Screening Tips for 2021
An ounce of prevention is worth a pound of cure as they say.
It's hard to get rid of a bad tenant and even harder when Uncle Sam won't let you!
050 - Lease Renewal Tips & Tricks
Its renewal season everybody! Tune in for some of Tony's tips for easy renewals
REPOST - 021 - Quitting your job to do real-estate full-time?
Florida-man tenant asks: Is it OK if I do some drywall myself?
Notes and quotes from this episode
- Are you approaching the situation from a place of hardship or strength?
- Doing a BRRRR takes time. Flipping can get you income ASAP.
- Rentals and BRRRR are a get rich slowly strategy.
- Do your twice-annual walkthroughs! Otherwise your tenants might start breeding lizards and fruit flies to feed them.
- Whitemaintenance paint - $32 for 5G https://www.lowes.com/pd/Property-Advantage-Flat-Maintenance-5G-I-E-White-Paint-Actual-Net-Contents-640-fl-oz/50404192
REPOST - 025 - My Tenant beat my lawyer in court! - A (now) funny saga about the world's most impressive, terrible tenant.
My Tenant beat my lawyer in court! - A (now) funny saga about the world's most impressive, terrible tenant.
There is a famous quote from Warren Buffet about wanting to hire people that are 3 things.
- Smart
- Hard Working
- Ethical
Today's episode is about what happens when one of your tenants is only Smart and Hardworking.
--
As always please call us with your questions at 412-212-8366. We'll answer them live on the podcast!
049 - Tony talks John through tenant complaints
In this week's episode Tony talks John through some of his tenant issues and helps him find ways to easily solve problems... sometimes anyways.
048 - What I wish I knew then
Tony and John reflect on lesson they know now and wish they had known when getting started in RE
047 - How Tony and John use Real Estate to pursue Financial Independence?
Two different perspectives on how real estate can accelerate and/or provide you a path to financial independence.
046 - Crazy Price$ - What is going on in the market
All cash offers?
No contingencies?
2008 again?
Tony and John talk about the current market
045 - How Contractors Make Money?
Am I being ripped off by my contractor? Why does it cost $40/hour? Learn the breakdown on how contractors make money.
044 - Lessons from John mismanaged latest deal
John bought a house for ~140k and managed to mess it up. What an idiot.
Listen in to learn how not to make these mistakes AND more importantly how to recover if you do!
043 - How Your Property Manager Makes $
How can I avoid overpaying for a good property manager? What even makes a good property manager?
042- How your core four make money - REALTOR
How much is you realtor really making? What is normal? What is fair? How can you work with your agent so that you become their favorite client? Find out in today's episode.
041 - How should estimate my landlording expenses?
This is the last part of our multi-part series walking Hernandez from being rent robbed each month to generating WEALTH using real estate.
Today we talk about expenses side of the game. Listen in to answers on the following:
- How to figure out what the utility bills will be on your house?
- How can I plan for big expenses like a new roof? New furnace? New bathroom?
- What's a good budget % for basic repair?
- What's a good % for vacancy rates?
- If the main thing is to keep the main thing the main thing, what is the main thing?
040 - Newbie Q&A
In another chapter of our multi-part series with Hernandez, Tony answers the questions and concerns that are keeping Hernandez out of purchasing his first home.
Listen in for answers to questions like...
- HOME INSPECTIONS
- Can I trust a home inspector? What will a home inspector actually find and help protect me from?
- How do I vet a home inspector?
- Do I need to go to the house when the home inspector is there?
- CLOSING COSTS
- How can I figure out what all the costs of buying a house are?
- Can I trust a home appraiser? Will they give me a good appraisal?
- REALTOR
- I have a realtor I don't like. What do I do next?
- How do I search the web for a good realtor?
- NEIGHBORHOOD QUALITY
- How I do I find out if a neighborhood is safe?
- How can I tell if neighbors are taking care of their house?
039 - What does a deal look like? How to I find a realtor?
We are talking about https://www.zillow.com/homedetails/12230-Freeman-Ave-Hawthorne-CA-90250/20350703_zpid/ if you are on a computer!
Listen into this week's episode to find out...
- How to think about a deal and determine if it might be a good fit?
- How can you figure out what market is rent for a neighborhood/property?
- How can I think about appreciation potential for a property?
- How to find a good realtor that will help you get your deal?
- Do I need to buy land? Are condo's and apartments OK?
038 - PART 2 - Case Study in Buying: How do I work with a bank?
We continue our conversation with Hernandez about moving closer on buying his first house hack.
Listen in for answers to questions like...
- I want to start shopping for a house? How do I get a bank to give me the money?
- How long does my bank approval last? What do I do if it expires?!
- Won't shopping for a mortgage hurt my credit score?
- How much should I get pre-approved for?
- What if I am pre-approved for $500k but make an offer for $300k? Won't the seller counter with a higher price once they see I am pre-approved?
- How do I get a loan to fix up the house I am buying?
- Should I do a 15yr mortgage or a 30yr?
- Should I borrow money from my 401k?
- What is the accomplishment of the month.
037 - A "how do I house hack" case study
This week's episode is one of a multi-part series with Hernandez who is trying to figure out how to make his next house choice be one that helps him achieve financial freedom.
Stay tuned for answers to ...
- How can I house hack in a high cost of living (HCOL) area?
- What is one great strategy to build wealth in a HCOL area?
- How can you be an AirBnb host legally when AirBnb might not be allowed in your neighborhood?
036 - How to get value out of your first REIA meeting
Sage advice from Tonio Angotti on our new segment FIX IT or FORGET IT
and some good guidance on REIA meetings from Tony, who runs a REIA!
035 - How many offers will it take me to land a large multi-family?
Are you being efficient in your offer process? Learn how to be with some advice from Obi-wan Angotti
Let us know if you like the new Stay or Go segments or if you miss Florida tenant.
034 - Would you rather - Triple Net or Fully Occupied 10-unit APT building
<li>Listen in for a breakdown of what a triple net lease is</li>
<li>When you would be looking for a triple net and why</li>
<li>Some detail on a 1031 tax exchange</li>
</ul>
031 - REPUB: How to manage out of state rehabs
Audio issues are fixed! Thanks listeneres
Florida tenant asks - I fell asleep on the toilet, can you call the fire department?
When managing your out of state rehabs -- relationships with agents and having someone you trust that can do your walkthroughs is a must!
033 - Tony walks John through his deal
Tony asks good questions you should use for your own deal
032 - What to say when rejecting tenants
Should you tell a prospective tenant about what you found that led to their rejection?
030 - Handyman or Tradesmen? Who to hire?
included in this episode: Groundbreaking life lessons from BE FREE RE to change your life
REMINDER: it is not your job to solve all your tenant's problems
Florida tenant asks, what packing services are included in this lease package?
029 - What do I do if my tenant breaks lease right after moving in?
This episode is brought to you by supportive spouses. You can be one or find one, or both. Supportive spouses.
Florida tenant asks, bugs or trash. I choose both.
Hear TONY and only TONY answer your question about what to do if a tenant tries to move out, right after they move in.
028 - Emotional Support Animals
Florida tenant asks if you have any deals to save money on chicken overpopulation
What can I do about emotional support animals?
027 - In COVID what do I with my office space?
Florida Tenants says "Oh yeah I forgot to say I moved out. But don't worry I left my cat to keep watch over the place"
In this week's episode, Tony has some ideas for how you can advertise and make better use of your office space during these strange COVID times.
026 - Is it even possible to find a deal?
Florida tenant asks, can I hang in with my wife while you fix things?
Rates are low and prices are high. Is it really even possible to find one of those "good dealz" (Tony term) to get started in real estate? Can I get a crazy good one like I hear about online?
024 - My rental caught on fire!!! What do I do?
Florida Tenant Says: Don't worry if the heater is out. I have this toaster and my magazines to keep me warm.
This weeks caller Wale from NY asks: how do I restore my rental property to be marketable after a fire
- For next time: require your tenants to have rental insurance!
- In your lease, you should have a provision for damage due to fire being the tenant's responsibility
- There are disaster restoration specialist companies that can help, but they are expensive. ServPro is an example of one (we are NOT sponsored/recommending them though)
- Once the structural issues are fixed, switched out for a regular contractor.
- Congrats on your no longer rent-controlled apartment!
This week's episode is brought to you by DVD players. Available on eBay for like super cheap! Pick one up for your mountain cabin that doesn't have cable or internet today! https://www.google.com/search?q=google+ebay+dvd+player
023 - I have a few properties, how do I get 10X more?
Florida Tenant says: If I ask you come into my house in the middle of the night for no good reason, expect the unexpected!
Today's caller is Guisseppe who asks about his current portfolio that is "small" and at 67% LTV. What is the best way to get to get it from 10 to 100?
- Tony says: larger unit count deals are a fast way to grow your portfolio.
- Tony thinks you need more equity to consider a refinance (he likes 50%). At most you'll get 80% LTV.
- Partnerships/private debt. The best debt you'll find is through your network. You have 10 units done. So you have enough of a track record to offer people an opportunity for 8% on their money.
022 - Do I need to serve notice after a SWAT raid?
Florida tenant asks: Can you come over to kill the spider in my rental?
Quotes and notes from this episode:
- Being over accommodating is NOT the trend you want to set as a landlord.
- Even if your tenant is in jail, you need to serve them 24-hour notice before entering the property.
- When closing a property, prioritize the tasks for the government (for example, die tests) so they don't delay your closing!
- Keep contact info for both prospective tenants that you like but couldn't place in a unit for whatever reason and good tenants that have moved out. Remember to market to them when you have vacancies.
020 - Navigating a foreclosure nightmare
Edwin writes in about a foreclosure that has plumbing and pest issues. Tony shares some advice, both for laughs and for real.
In other news:
- The mortgage refinance fee mentioned is on HOLD!
- Be sure to ask your mortgage broker if they will pay for some all or some of it!
- The national stay on evictions is NOT yet passed as of this writing.
- If you find a good deal, close it! A bird in the hand is better than 2 in the bush.
We introduce a new segment called Florida tenant, inspired by stories about crazy people in Florida.
Florida tenant says: The dishwasher is leaking water onto the floor, so I've only been running it once a day.
019 - You don't find deals... you make them! Tony's awesome deal
This week we break from the normal format to walk through a deal of Tony's that will be published in the upcoming BiggerPockets book.
- When does doing the work yourself not make sense?
- Viewing a property for what it is today vs having a vision for what it could be
- How good is this deal?
BONUS TRICK: How to save money on multifamily ceilings.
017 - Commercial (5+ unit or mixed use) loans and Marketing off of Zillow
In this weeks' episode...
Are considering a commercial loan? Wondering about buying a bigger deal?
Chris is thinking about buying 3 APTs with a storefront underneath and is wondering what he should know beforehand.
Where is the best place to market rentals?
Zillow is planning to charge monthly/weekly for rentals. Taylor wants to know what he can do. We have a bunch of options for you to use and get good quality tenants from.