Landlording 101 and Reducing Your Mortgage Payment
Aired on WREC on 9/1/2012, Kevin Perk, Holly Swogger and Jo Garner discuss landlording 101 and reducing your mortgage expenses. Many people today are being thrust into the landlording business because they cannot sell their homes in the sluggish real estate market. This show discusses some of the main topics people should know about landlording. We also talk about the many mortgage products currently out there than can be used today to reduce your monthly payment and thus increase your cashflow.
1 Sep 2012
Episode 8 – Is There a Good Property Management Company?
Episode 8 of the Smarter Landlording Podcast poses a question every landlord has asked at some point: Is there a good property management company? The answer may surprise you. To get to the answer, the SmarterLandlording Podcast talks again with Richard Scarbrough. Richard has over 40 years experience in all facets of real estate investing and has used numerous property managers during his career. In this podcast, Richard and I explain the five ways property management companies make their money and how these may create incentives that are not so beneficial to the landlord. We also describe two major issues with property managers that all investors should be aware of.Next, we talk about what a landlord should do if they choose to go the property management route, including the major questions you should ask when considering a property management company. Plus, we consider if you can and should tailor the contract with the management company to better suit your needs.Finally, we talk about some steps you can take to make self-managing your properties easier, including how to handle money flow and repairs.Richard is always a wealth of real estate investing knowledge and he again shares some great information regarding property management companies on this episode of the SmarterLandlording Podcast. Give us a listen today!
5 Apr 2018
Episode 7 – Understanding and Timing the Multi-Family Market - With Multi-Family Real Estate Broker Steve Woodyard of Woodyard Realty
Episode 7 of the Smarter Landlording Podcast is an in depth discussion with Steve Woodyard. Steve is the President and principal broker of Woodyard Realty, a firm that specializes in selling multi-family apartment complexes here in Memphis and the surrounding Mid-South Region. Steve and his staff have been involved in about 40% of the total number of apartment sales here in the Memphis area recently. He works with individual and institutional buyers and sellers who are both local and from around the world. And, he has been doing all that since 1984. In short, he is an expert on buying and selling all types multi-family properties and extremely knowledgeable on market conditions and how markets can change. In this episode Steve and I discuss various types of apartments, how to determine their value, the current apartment market here in Memphis, who is buying and who is selling, who is being rewarded in the market today and where the market is likely headed in the future. This is an excellent podcast if you are thinking of getting into multi-family property or curious about the Memphis area and the Memphis market. Give us a listen today!
21 Jan 2015
Episode 2 – The Expert Landlord: Lessons from 40 Years and 600 Units.
Episode 2 of the SmarterLandlording Podcast is an in depth discussion with longtime real estate investor and landlord Richard Scarbrough. Richard over the course of 40 years in real estate has bought and sold over 400 houses, owned over 200 apartments and as he likes to say “has made a lot of money and lost a lot of money.” Listen closely to this show for several gems of real estate and landlording wisdom, including deal structures, income tax benefits and strategies and getting your tenants to pay on time. Learn about the two sets of problems with rental properties, the types of real estate education and their value and the two things you need to do to be a successful real estate investor. Yeah, I know it runs for over an hour and honestly we could have gone on for much longer. But, Richard is such a wealth or real estate knowledge that this will be an hour well spent.
14 Apr 2014
Most Popular Podcasts
Episode 1-The Newbie: Jumping Right Into Multi-Family Investing with Jenna Stonecipher.
Taking that first step towards becoming a real estate investor can be difficult and scary. So difficult and scary that many never actually take it. This episode talks with a newbie investor who took that first step and then some. After researching real estate and learning about the business, Jenna jumped right in and bought several, vacant, in need of rehab multi-family units. Listen and learn why she got started, how she found the properties, got the financing, rehabbed them, found tenants and got them up and cash flowing. She has been through quite a learning curve and she shares much of it in this episode. Check it out!
12 Mar 2014
Episode 3 – Evictions, Leases & Tenants WIth Attorney John “Bucky” Philip
Episode 3 of the SmarterLandlording Podcast is a detailed discussion with Attorney John “Bucky” Philip. Bucky specializes in real estate law here in Memphis, TN. He is an expert on evictions and landlord/tenant law and my go to guy if I need to use the courts to regain possession of a property. Listen in as we discuss the clauses you should have in your lease, the eviction process and how long it will take plus how much it will cost, if you can do an eviction yourself and what to say when you get in front of the judge. We also talk about what happens if your tenant files for bankruptcy, offering “cash for keys” and much more. Bucky spent almost an hour with me discussing topics that every smarter landlord should know and understand. Give us a listen today!
12 May 2014
Episode 14 – Loans For The Beginning Investor
Episode 14 of the Smarter Landlording Podcast is a discussion with mortgage broker Herb Hyman. Herb has been in the mortgage and loan business for over thirty years. He has seen the ups and downs of the real estate market along with the good and the bad. In this episode Herb shares his knowledge on acquiring loans for investment properties. This episode is focused towards and will be especially helpful to those just starting out in the investing world as Herb knows what it takes to get the loan process going. Listen as Herb and I discuss:Beginning your search for investor loans.Common types of loans for new investors.The documents you need to get together for the loan approval process.Getting pre-approved.Down payments.The importance of your credit report and having your own house in order.AppraisalsWhy a local underwriter is key.
19 Jun 2019
Episode 12 - Looking Back On Getting Started, A Conversation With A Former Newbie
Episode 12 of the Smarter Landlording Podcast features the very first guest I ever interviewed, Jenna Stonecipher-Williamson. Back when we first talked Jenna was just getting started in real estate and was knee deep in repairs and finding tenants. Now almost five years later, Jenna is still in real estate and going strong. In this episode we discuss what went right, what went no so right and if she would do it all again. A newbie no more, Jenna shares some valuable insights and demonstrates that becoming successful in real estate can be done, just not perhaps in the way you thought it would. Listen to hear Jenna and I discuss:· What she did to move into real estate full time.· Where real estate took her, from selling high end homes to new construction.· How you have to follow your market.· Lessons she has learned, especially when talking about her business.· The many hats a real estate investor has to wear.· Finding tenants and tenant screening red flags.· Lessons she has learned.· Advice for the newbie from a former one.Getting started in real estate investing never quite goes the way you think it will.Listen in as Jenna describes where here journey in real estate took her.
24 Oct 2018
Episode 6 – Real Estate Titles and Closings With Attorney Joe Kirkland
Episode 6 of the Smarter Landlording Podcast is an interview with Joe Kirkland, real estate attorney. Joe is my go to guy for real estate closings and real estate legal advice. Joe has been practicing law here in Memphis, TN since 1975 and today focuses solely on real estate transactions. Joe is a wealth of knowledge and in this episode he shares some basic information on titles and closings that every real estate investor should know. Listen and learn• What is equitable vs. legal title,• Why local counsel is so important,• What the most important part of the real estate deal is,• What is the secret to reading a HUD-1 closing statement,• What rights come with your title,• Why a title search is so important,• Why you want a warranty deed,• What is the “Badge of Fraud,”• About red flags to look for in a title search,• Should you record your deed,• What types of transactions should investors generally avoid.• And much, much more!
18 Nov 2014
Episode 11 – Buying, Rehabbing and Managing Class D Apartments
Episode 11 of the SmarterLandlording Podcast focuses on buying, rehabbing and managing class D apartments. Class D apartments look great on paper, but are more of a challenge than you might realize. My guest, Erik Nowacki, has taken on that challenge by investing in, rehabbing and managing distressed class C and D apartments. He has built up a portfolio of hundreds of apartments here in Memphis, TN. During this episode Erik and I discuss: The difference between apartment classes and the risks involved in investing in them. Why class D properties look so good on paper while other classes might not. What you must do if you are considering purchasing a class D property. The features of the Memphis, TN apartment market. The tenant base characteristics for class D properties, especially here in Memphis, TN. What to look for when screening tenants for class D properties. The goals when rehabbing a class D property. Property management for class D properties. How you can be scammed when looking at buying these types of properties. If you are looking at the numbers of a class D property and wondering how you can go wrong, then this episode of the SmarterLandlording Podcast is for you.
8 Aug 2018