Top 10 Investing Mistakes (Mistake #3 - Miscalculating the ARV)

One of the biggest questions I get is "how do I avoid risk"? 

What people are really asking is "How do I avoid making a mistake that will cost me money, ruin my chances, bankrupt me, etc?"

How can I guarantee I will make a GOOD decision and buy a GREAT property that makes me cashflow? 

The truth is, there's no way to totally eliminate risk.

BUT, there are a variety of methods to make sure you minimize your risk in a big way...so that over the long run, any setbacks are massively offset by all of your big wins. 

In today's video I go over one HUGE mistake you can make, MISCALCULATING THE ARV, that will screw up everything else and possibly derail your investing efforts.

Learn how you can get coached by me TWICE A WEEK for the price of a gym membership at:

www.myfirst12houses.com

Follow Me On Instagram: brian.ellwood

Interested in 1-on-1 coaching? Email me: brian@brianellwood.net

What To Do If You’re Not Bankable

Do you have a bad (or nonexistent) credit score? 

Is your income history kinda shoddy? (maybe you became an entrepreneur like I did and made 8K your first year!)

Do you lack the big down payments that banks require (15-20%)?

If so, you’re not alone. 

There’s also several ways you can still buy rental properties despite all of this. 

I was in this exact same boat when I first started out.

It wasn’t until I learned the difference between “Asset Based” loans…

And “YOU Based” loans…

That EVERYTHING CHANGED.

I posted a video the other telling that entire story….

And what I do now to buy rentals without any of the stuff that banks require….

Check it out!

ASSET BASED VERSUS “YOU” BASED LOANS

To your freedom,

Brian 

Top 10 Investing Mistakes (Mistake #2 - Screwing Up The Repair Estimate)

One of the biggest questions I get is "how do I avoid risk"? 

What people are really asking is "How do I avoid making a mistake that will cost me money, ruin my chances, bankrupt me, etc?"

How can I guarantee I will make a GOOD decision and buy a GREAT property that makes me cashflow? 

The truth is, there's no way to totally eliminate risk.

BUT, there are a variety of methods to make sure you minimize your risk in a big way...so that over the long run, any setbacks are massively offset by all of your big wins. 

In today's episode I go over one HUGE mistake you can make, SCREWING UP THE REPAIR ESTIMATE, that will screw up everything else and possibly derail your investing efforts.

Check it out!

Top 10 Investing Mistakes (Mistake #1 - Investing In The Wrong Market!)

One of the biggest questions I get is "how do I avoid risk"? 

What people are really asking is "How do I avoid making a mistake that will cost me money, ruin my chances, bankrupt me, etc?"

How can I guarantee I will make a GOOD decision and buy a GREAT property that makes me cashflow? 

The truth is, there's no way to totally eliminate risk.

BUT, there are a variety of methods to make sure you minimize your risk in a big way... so that over the long run, any setbacks are massively offset by all of your big wins. 

In today's video I go over one HUGE mistake you can make, that will screw up everything else and possibly derail your investing efforts.

Check it out!

Would You Like Me To Start Holding You Accountable?

Hey! Brian here.

Just checking in...

Where are you in your business right now?

Have you been making progress towards getting your freedom?

Are you clear on what your next step is?

If you think you might benefit from having me coach you on exactly what your next step is…

And hold you accountable to taking action every single week…

I have something you might like. 

I’m forming a group (of 8 people max) called “Freedom Accelerators”.

We’re going to hop on a video call every 2 weeks - share our struggles - get the coaching/guidance you need…

Then have each person make a firm commitment on what they are going to do over the next two weeks…

To make big progress towards their goals.

This is a group of action takers ready for that healthy pressure they need so they can see real change in their lives. 

If you’re interested, shoot me a reply and I’ll send you the FULL details. 

-Brian

P.S. - If you were to join a group like this, what’s the #1 thing you’d want it to have/provide?

P.S.S. - This group is going to be capped at 8 people MAX and we’ve already got a couple people signed up. If you’re interested let me know!

Lost And Don’t Know Where To Start? Get Unstuck TODAY With The "12 House “Roadmap”!

What's up guys!

Had an amazing call with our Freedom Artists group a few weeks ago and wanted to share it with you.

In this coaching call, we went over the "12 House Roadmap" (the entire process you'll follow as you get your first rental property (and the next 11).

It helped a lot of our members get "unstuck" so I wanted to share...

Check it out!

The Phone Calls That Still Scare Me

This morning I sat down at my desk and looked at my schedule for the day. Right at the top, 9AM, staring me in the face, was:

NETWORK WITH PRIVATE MONEY LENDERS - 1 HR

This meant that I had to pick up the phone and call some successful, savvy businessmen and women for the next hour, and do the worst thing of all:

Ask them for money! 

Now this is a strategy that I love, and that I teach heavily. If you consume my content in any way you’ve heard me talk about it. 

So if I’m “so good” at it, then why does it still scare me? 

I asked myself this and didn’t get an immediate answer.

Only after thinking on it for a bit, I remembered a fundamental truth of ALL personal development.

When we push up against the edges of our comfort zone, what happens?

We feel uncomfortable. We are simply stepping OUT of our comfort zone.

Even though I’ve done it quite a bit, it still scares me a little, too. 

But I do it anyways. 

What also happens when we push the edges of our comfort zone?

The comfort zone itself expands. It grows larger. 

Imagine a bubble around you that is your comfort zone. Each time you push the edges, it stretches and becomes larger. 

Know what else happens?

More things fall WITHIN your comfort zone! (now that it is larger and more encompassing)

Getting comfortable being uncomfortable is vital to your growth. 

(Stay comfortable at your own risk!)

So, how did my hour of networking go?

I was only actually able to speak with one lender on my list. But we had a great conversation, and I found out that he does longer term loans for rental properties (which is preferable and can be hard to come by).

He’s also got a lot of money. 

What does this one relationship mean? Well, it could literally mean an extra 5 rentals for me, over the next 12 months.

How crazy is that?

Is that worth feeling a little uncomfortable? :)

If you guys are interested in being coached by me TWICE A WEEK on exactly how to execute this (and everything else you need to get your first 12 houses!), go here:

www.myfirst12houses.com

And….make those lender calls TODAY!

Brian

How It Felt To Buy My First Rental (Hint, It’s Not What You Think)

Ever since I stumbled upon “Rich Dad, Poor Dad”, I knew what my goal was. 

Passive Income.

I lost focus of that goal many times, and it wasn’t until years later that I actually bought my first rental property. 

It was a little one bedroom house. The seller only wanted 19K (This was 6 years ago or so, when things were still cheap. Plus this wasn’t the greatest part of town).

I told my then-business partner that I wanted to buy it. I wanted to finally take the plunge and create that passive income I had always been craving.

I also offered to go in on it with him 50/50. 

He hesitated. It would be his first rental as well. Having never taken ownership of anything, he feared that we would screw something up and lose money. 

Honestly, I felt the exact same way. I was scared shitless. I was really hoping he would partner with me so we could share the risk.

But I said to him: “I’m buying it, with or without you. Are you in or out?”

After hearing that, he agreed to do it. He didn’t want me to be the only one with a rental property.

So we took the plunge together, and we bought it!

You know what’s really funny? I didn’t even get a contractor’s estimate or an inspection. I had no idea of how much work it was going to take to get rent-ready.

That WAS really risky, but I didn’t know it at the time. 

But even if we had, we still would have been really scared. 

When you’ve never done something before, there’s so much vague fear and so many unanswered questions - questions that can only be answered through experience. 

Now, I’m sitting here telling everyone that they should buy rentals. To me, it’s easy, and obvious. 

What I forget is how I felt when I was in your shoes.

I wanted passive income - sure, who doesn’t?

But I was really scared, almost to the point of paralysis.

The only thing that cured my fear was to take that risk and just ACT. I had to get at least one real-world experience of what it would be like.

I had to see the process for myself. 

After a few more newbie mistakes, we got that first rental fixed up and rented out. 

After that, the floodgates opened. 

I saw how easy it could be. I saw how I could control the risk with proper due diligence. I received the checks as the cashflow came in.

THAT is what really set it in stone for me. 

“This stuff works, and I’m going to keep doing it”.

Are you at this stage right now, where the fear is just a bit stronger than the desire?

If so, know that it’s totally normal. It’s incredibly common. 

You will need to get uncomfortable to push past where you currently are.

That’s, unfortunately, always true for anything.

(I know, sucks, right?)

If you want to hear a more detailed version of my story and how I ended up getting enough rentals to pay all my bills, click the link below:

FIND OUT HOW I RETIRED AT 31

To your success!

Brian

How I Got Over My Fear Of Asking For The Money To Buy Rentals (Find The Money Pt. 1)

New Podcast is Live!

This is part one of a series where I go over exactly how to find the money for your next (or first) rental property...

(The BIG elephant in the room that holds most people back)

In today's episode, I share my story on how I came to VIEW the process of finding the money DIFFERENTLY, and how that one shift in mindset made the whole process easy for me from then on. 

Check it out!

How Do 12 Houses Equal Financial Freedom?

I coach and consult with people all the time. Want to know what their #1 goal always is?

Freedom. 

They want to spend their days as they please.

More time for hobbies, friends, family, leisure, passions. 

Sometimes, they think they want tons of money.. But as we dig deeper, we always discover that the money is only something that they are planning to use to get all of the above. 

Then, they usually ask me how to build a huge flipping or wholesaling business. Their goal is to make tons of money doing that, and then use the money to get freedom.

I tell them that it rarely works that way.

Most of the time, and also in my experience, building high-volume businesses like that actually TAKES AWAY from your freedom. 

Yes, it might give you freedom from your job. You can definitely use it to quit your job and become an entrepreneur. 

But that’s a different goal than the one they originally stated they wanted. 

Becoming an entrepreneur DOES equal freedom from a job.

Becoming an entrepreneur DOES NOT equal freedom to do whatever you want all day. 

This is an important distinction, so I hope you’re paying attention. 

I find myself often suggesting that they work on growing a portfolio of cashflowing rental properties, one that will in short time cover their living expenses, thus giving them the ability to choose whether or not to work, what to work on, etc. 

Their reply is usually “Well, yeah, that sounds awesome. In fact, that is one of my longer-term goals. I want to do that down the road when I’m ready.”

My reaction: “Uh, wait, what?”

Then I usually go on to explain that buying rentals (i.e. creating passive income) is:

- The first thing you should do

- Easy to start doing right away, no matter how much cash you have or where you live

- The most important thing to figure out

I also go on to explain that starting with a goal of just ONE DOZEN rentals is an amazing “baseline” level to achieve. 

You can expect to net 40K/year with this size portfolio, even if all of them are leveraged (meaning you used a loan of some kind to buy it). 

The crazy part is that most people could actually live off of 40K per year (after taxes). It’s the average American income. 

They could get their dozen rentals and be “retired” from working for money ever again.

Even if you need more than that, having that much come in predictably, on-time, everytime, WITHOUT working for it is a HUGE leap towards financial freedom. 

You always have that 40K to fall back on, even if you were to lose your other sources of income. 

That’s why I have a saying “You’re just a dozen houses away”.

Is this registering with you?

What’s your biggest question about getting your first 12 houses? 

To your FREEDOM…

Brian

Have You Picked Your Market Yet? (Free Best Markets Report Inside!)

I talk to a lot of new investors who are hanging out and learning about investing.

They often ask a lot of questions about finding deals, analyzing deals, and finding the money.

I’ll reply with “have you picked your market yet?”

Often they either haven’t considered this question, or they are planning on investing in a market where the #’s don’t even work (at least in this crazy day of age we call 2019).

Everything HINGES upon you picking a good market to invest in. 

It’s like picking a stock that people haven’t discovered yet (so you can make a ton of money)…

You want to find a city where the #’s look good for cashflow….

AND the city is poised for rapid growth and appreciation.

You want to find the next Nashville, Portland, Austin, or Denver.

A city that’s getting “cool” but isn’t quite that cool yet :)

Meaning prices are still CHEAP.

There’s also a handful of other REALLY IMPORTANT criteria to check off BEFORE you go into a market.

No need to worry though - I’ve written a report that goes over the criteria you need to look for, AND includes what I think are 10 really great cashflow markets right now.

You can grab that for free at the link below:

GET THE BEST MARKETS REPORT

Once you’ve narrowed your decision down to a couple markets, feel free to post in our free Facebook group if you want me to take a look at the markets you’re considering. Do that here:

JOIN OUR FREE FACEBOOK GROUP

Picking your market is the first step because once you do, then you build your team within that market, find lenders who lend in that market, find deals in that market, learn the neighborhoods, and so on. You can’t do any of the next steps if you don’t know where you will invest. 

Good luck making this big decision! It feels heavy but I promise you there’s investors killing it in hundreds of cities all over the U.S. Don’t take more than a few weeks to make this decision so you can get down to investing!

To you freedom,

Brian

What Is "Passion Income" And How Do I Earn It? (Pt. 3)

Hey guys! So today's podcast is a little bit different...

I find myself coaching a lot of people on how to be an ENTREPRENEUR lately...

Because when I ask them what they'd do during their "Perfect Day"...

A lot of people tell me they'd start a business that helps people in some way. 

Then I say "How about we do that NOW and have that pay for some of your bills?"

The fastest path to freedom is paying the bills through a combination of both PASSION and PASSIVE income.

This episode is Part 3 of 3 where I teach some basic fundamentals you MUST know if you're going to succeed with this.