Flipping America 430, Invest for Life, Pt 1

Flipping America

Paul Montelongo joined us recently for both the Wednesday and Thursday meetings of the Flipping America REIA. We discussed his incredible career and covered a variety of topics.

Here are some of the topics we covered which you will hear about today and next time.

• The secret to longevity in business
• The realistic expectations of being in the real estate business
• How to successfully merge a personal life with a business life
• Creating bigger and bigger reasons to continue a business life
• Leaving an imprint on the world (your world)

I asked Paul to provide 3-5 compelling reasons for people to join the call (as if his fame isn’t enough!). Here’s what he said:

1. 40 years real estate & business experience
2. Wide variety of interests...not just a real estate guy (harley, golf, yoga instructor, author, painter, family man, real estate, media, and more)
3. Unique perspectives on business and life
4. My peaks and valleys have given me a unique wisdom
5. I don't take myself seriously

I’ve been around Paul enough to know that he thinks like me. He doesn’t like the hotel room “guru” business model. He is real, wants to help, has a variety of interests, and is committed to personal growth.

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (877-557-6437) ext 1. Leave your message or your question.

Email your questions to [e-mail]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind.

Sponsors

American IRA: www.americanIRA.com

The Flipping America Buyers Club bit.ly/flippingamericabuyersclub

Announcements:

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities .
• “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

News

• Home values are up 6.7% year over year. Can we now start ignoring the click-bait crash boys who were predicting something similar to 2008?
• Interest rates remain historically low and look poised to remain so for some time. https://www.bankrate.com/mortgages/rates/mortgage-rates-for-monday-november-9-2020/
• Inventory is still tight with no sign of significant increase in new home construction.
• Fannie Mae and Freddie Mac officials are planning to appeal for a continuing policy of loan deferments well into 2021. This will mean continuing historic low foreclosure rates for at least the next six to nine months.
• What does it all mean? It means this is a great time to sell and will be through the first half of 2021, because of tight inventory. Deals are hard to come by but easy to sell when you get them. It almost doesn’t matter where it is.

Questions

• Michael, Boston, MA, also 133 others, “How do you see the Presidential election impacting the real estate market?”
• Andrea, Baltimore MD, “I don’t see anything out there I can buy using the MAO rule. It just doesn’t exist. What do you think about going to 75 or 80% of ARV and relying on inflation and the tight market to make the profit?”
• Calvin, Fort Worth, TX, “How do you figure repair costs to make offers on remote properties?”

Motivational Quote: “Buyers decide in the first eight seconds of seeing a home if they’re interested in buying it. Get out of your car, walk in their shoes and see what they see within the first eight seconds.” – Barbara Corcoran