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Flipping America 380, How to Build Your Personal Network Part 2

Published: Aug. 10, 2020, 4 p.m.

Today we conclude the presentation from last time about how to build your personal network. Plus I have a bunch of questions from you and I\\u2019m going to give you some answers.\\xa0

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 (76437) \\xa0 ext 1. Leave your message or your question.\\xa0

Email your questions to questions@rogerblankenship.com. 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\\u2019t mind.\\xa0

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.\\xa0\\xa0
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\\u2019s 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 .\\xa0
\\u201cReal Estate Investing Quick Start\\u201d 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:

Quicken Loans has filed for an IPO. Could be the the biggest of 2020.

Mortgage rates are at 2.9% - the lowest in history!
Credit availability is still tight - toughest in 6 years - across all loan types.\\xa0
Mortgage applications are up for the 8th straight week.
Part one: why we won\\u2019t see a spike in foreclosures https://www.housingwire.com/articles/pulse-does-the-mortgage-industry-view-foreclosure-as-a-last-resort/
Nice explanation of how lots of foreclosures damage value. https://www.housingwire.com/articles/pulse-how-should-we-think-about-foreclosures/
The answer is \\u201cyes\\u201d https://www.housingwire.com/articles/pulse-will-servicers-be-able-to-flatten-the-curve-in-foreclosures/?utm_medium=email&_hsmi=89019253&_hsenc=p2ANqtz-88RdfAMYsnRkdgeO868tu2jqH2ccT1q_CtAjF4T0RA7j1aRZpn8dxfpx2LKSq1vOSt3gaEKC9wujKQZF7wY36e6NesRyBSorJyACtGTROhSShwVAU&utm_content=89019253&utm_source=hs_email
Paul Centopani from National Mortgage News is predicting home prices will recover fastest in cities that have a lot of IT and finance jobs.\\xa0
Housing Starts rose 4.3% in May, which sounds good until you hear that a 22% increase had been expected.\\xa0
CEO of Opimus says the US economy is bouncing back nicely.
Housing is going to lead the economic recovery. https://www.cnbc.com/2020/06/16/coronavirus-update-homebuilder-sentiment-posts-biggest-monthly-surge-ever.html
The average lease of a Manhattan apartment plunged 62% year over year in May. High end apartment lease prices are dropping all over the country.\\xa0

Questions:

Send your questions to questions@rogerblankenship.com

Jay, Atlanta, GA \\u201cWhere can I get a list of foreclosures?\\u201d
Sandy, Mentone, AL \\u201cHow would you approach real estate investing if you live in a small town?\\u201d
Daniel, Jacksonville, FL \\u201cI hear your prophecy about foreclosures and home prices and I think you\\u2019re right. But I wonder what this means for me as an investor. Should I be doing something about this info?\\u201d\\xa0
Carolyn, Boulder, CO \\u201cDo you have suggestions for actually seeing a home when the seller is concerned about the pandemic?\\u201d
Marvin, Washington, DC \\u201cShould I start with wholesaling and move up to fix and flips?\\u201d
Aaron, Harrisburg, PA \\u201cThanks for this information and for answering everyone\\u2019s questions. I\\u2019m wondering where you think the best opportunities are for new investors?\\u201d
John, Pittsburgh, PA, \\u201cWe have a house that is just over 100 years old. The foundation is good. We can make a little money if we remodel what is here and sell. If we add 600 more square feet, out back of the house, we can create a cool floor plan and sell for a lot more. Theoretically we will make a lot more, but it will take a lot longer to do. I think there are unforeseen problems with that plan, but I don\\u2019t know what they could be. Can you help me here?
Willa Fae, New Port Richey, FL \\u201cI have 12 rental houses. Seven of them are paid off. The other five are more than half paid off. I watched a webinar the other day and the gentleman was teaching about returns on rental properties. He said something about return on equity I didn\\u2019t fully understand, but I get the idea I should be re-financing all my properties to get the best return. I don\\u2019t know what he meant, but I know I\\u2019d be putting less money in my pocket every month and I need this to live on. I\\u2019m 74 years old and my husband died ten years ago.\\u201d

Motivational Thoughts for the day

\\u201cIf we cannot end now our differences, at least we can help make the world safe for diversity. For, in the final analysis, our most basic common link is that we all inhabit this small planet. We all breathe the same air. We all cherish our children\'s future. And we are all mortal.

\\u2015 John Kennedy

[Commencement Address at American University, June 10 1963]

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