Miscellaneous
If you or anybody you know and love is looking to buy and/or sell real estate in the near future, reach out HERE with your questions!.Edna Keep is a real estate investment and mindset transformation coach who has a 90 day program as well as a book titled, "Multiple Ways to Wealth.".In this episode, we discuss how real estate investing and mindset intertwine and play a huge role in how big of an empire you'd like to create, because there are always new mindset shifts that come with more responsibilities and leveling up in life to reach that next goal..We also discuss how working with a coach and taking classes are undoubtably the best way to get started on our journey of buying real estate, as well as working with a team and spending money where we can save ourselves time to work on other, more important or less time demanding tasks..Edna shares with us the delivery that works for her students and team when pitching to an investor..Links: ednakeep.com // 90 Days to $5k // edna@ednakeep.com // @edna_keep // Rich Dad Poor Dad by Robert Kiyosaki // Think and Grow Rich by Napoleon Hill // @spirituallynutritious // @seasyourhome.Definitions:Rent to Own - "A rent-to-own agreement is a deal in which you commit to renting a property for a specific period of time, with the option of buying it before the lease runs out. ... You pay rent throughout the lease, and in some cases, a percentage of the payment is applied to the purchase price." - Investopedia.com Lease options - "A lease option is an agreement that gives a renter a choice to purchase the rented property during or at the end of the rental period. It also precludes the owner from offering the property for sale to anyone else. When the term expires, the renter must either exercise the option or forfeit it." - Investopedia.comMoney Partner - "The money partner is the term for the person in this arrangement who has capital to spare. As for the person that has time or scouting skills or other resources, they are sometimes called the entrepreneurial partner. Other terms for these types of arrangements include credit partnership and partner funding." - Royal Legal SolutionsManaging Partner - "A managing partner represents an individual who has an ownership interest in a company and also manages its day-to-day business activities. This position exists within companies structured as partnerships and limited liability companies (LLC)." - IndeedBuy, Repair, Renovate and Refinance and keep - "This method of investing in rental property has grown in popularity over the past decade and focuses on finding a distressed property to buy, rehab, rent, refinance, then repeat. The BRRRR method of real estate investing has proven to be a great way to build cash flow and financial independence through rental income, but it isn't right for everyone." - Million AcresAcquisition fee - "An acquisition fee is a charge from a lender or lessor to cover the expenses incurred for arranging a loan or lease agreement. Common examples include closing costs, real estate commissions, and development and/or construction fees." - Investopedia.comCap rate - "Capitalization rate is a real estate valuation measure used to compare different real estate investments. Although there are many variations, the cap rate is generally calculated as the ratio between the annual rental income produced by a real estate asset to its current market value." - WikipediaVendor financing from the seller - "(also sometimes called “vendor take back,” or VTB) usually involves the owner agreeing to be paid a percentage of the sale price over time with interest." - BDC.caAppreciation play - "In real estate, appreciation refers to your property's value or, more specifically, how much its value increases over time." - Million AcresInvestor Capital - "the procurement of money by a company in order to further its business goals and objectives. The term can also refer to a company's acquisition of long-term assets such as real estate, manufacturing plants and machinery." - Investopedia.com See acast.com/privacy for privacy and opt-out information.