Episode Summary In this episode of Get Real Wealthy Season 2, Quentin weighs out the pros and cons of staying or switching your mortgage. Quentin says that some people think interest rates are the only thing you should look at, but terms are just as important when deciding whether you should stay or switch on a mortgage. Terms and conditions are not limited to the timeframe but also things like prepayment penalties, etc. He adds that another thing to think about is the current rate versus the new rate and what are the potential savings. You also have to look at the interest savings over the mo ..read more

In this episode of Get Real Wealthy Season 2, Quentin shares ten creative financing options that most real estate investors don't know. Quentin says that the idea behind these creative options is that sometimes there are sometimes difficulties in getting financing or being able to purchase a property. As a real estate investor, you are a problem solver. He adds, "creative financing strategies actually helps you to acquire more properties, solve more problems, and getting cash flow and equity as payment of that, as well as mortgage, pay down." Important Links and Resources ·   &n ..read more

Episode Summary In this episode of Get Real Wealthy Season 2, Quentin shares some tips that would help you pick better tenants.  Quentin says that choosing and filtering tenants is probably the most important thing you can do for having a successful investment property. He shares some tips and strategies that can help you save your investment property from potentially troublesome tenants. First of all, you want to have a good title for your ad. It should contain good information about the benefits, not the features of the property. The great thing about online ads is that you can put lots ..read more

Episode Summary In this episode of Get Real Wealthy Season 3, Quentin talks about building your credit and why it's important. Quentin says that a lot of the things we're going to do while investing require some credit. You can start without credit, but for growth and scaling, you need good credit. It allows banks or other institutions to track how well you repay funds you borrow. We are moving from a money-based system to a credit based economy. He adds, "If we are good with our credit, we will be able to borrow more, and if we can borrow the right type of debt, we're going to be able to crea ..read more

Episode Summary In this episode of Get Real Wealthy Season 2, Quentin talks about six tactics for finding off-market properties. Quentin says that these tips are taken from his book, The Finding Properties Toolbox, which can tremendously help you in finding off-market properties. He says that it's important to find off-market properties because there is little to no competition when you're dealing directly with the seller. You can get more flexibility in negotiations and different pricing as well. Finding off-market properties can be timing consuming and can cost a lot, but there are five tact ..read more

Episode Summary In this episode of Get Real Wealthy Season 2, Quentin talks about four steps on hiring a general contractor for your rental property renovation. Quentin says that it's really important to have a great general contractor and there are some tips and tricks that can save your time and money. The difference between hiring a general contractor and doing it yourself is time. Usually, you have to give up a lot of time in order to do a good job at a renovation. If you are giving up your time, then you are saving money. If you want to have more time however, you hire a general contracto ..read more

Episode Summary In this episode of Get Real Wealthy Season 2, Quentin talks about six numbers that you should look at when you're deciding to invest in a new area. Quentin says that it is important to look at this specific information so that you can evaluate its potential for investing and the value of the properties in the future. The first thing to look at is demographics. Look at the age of the population, are they working in the area or are they commuting to somewhere else to work? In the end, you want to be in an area that's in demand, with a growing population. Secondly, you need to loo ..read more

Episode Summary In this episode of Get Real Wealthy Season 2, Quentin talks about the challenges of purchasing multifamily properties. Quentin says that when you buy distressed multifamily assets, the benefit that comes with repositioning that asset is that you're buying a property, as the value is based on the net operating income and the current cap rate. This means that when you're buying a property, there is value that you can create by increasing rents,  increasing the quality of the building, and therefore increasing the value of the building. So, there are a few challenges and thin ..read more

In this episode of Get Real Wealthy Season 2, Quentin talks about how you can make a great ad for your rental properties.  Quentin says that these are some of the tips mentioned in The Filling Vacancies Toolbox book, which is a step-by-step guide for Real Estate investors and landlords for renting out residential real estate. He says that a great ad is important because if you don't get people into your rental units to actually take a look at them, you're not going to rent them out. The first thing you can think about is, what you see first, when you come to the website, because the days ..read more

Episode Summary In this episode of Get Real Wealthy Season 2, Quentin talks about five mortgage traps real estate investors face and how to avoid them. Quentin says that the first trap is a fixed closed mortgage with a five-year timeframe. You may get lower interest rates, but you will have problems accessing equity. Secondly, with a fixed closed mortgage, you will have a large prepayment penalty a large prepayment penalty if you want to break that mortgage after a year or two. He adds “lowest rate isn't what real estate investors should be looking at.” The next mortgage trap is buying insuran ..read more