Buy & Hold Day 2

Make your Long-term property investments more lucrative with the right property,  exit strategy and transaction control.

48
Hrs
Mins
Secs
07
42
25
Segments Duration
Request Info
INSTRUCTOR

Chris Wilson

Chris Wilson is a real estate investor and a licensed real estate agent with more than 30 years of experience! His businesses specialize in fix and flip, property management, wholesaling, land-lording and traditional real estate services. He has found success in residential, land and light commercial real estate transactions. He loves speaking and is willing to share his extensive wealth of knowledge with you, allowing inexperienced investors to benefit from his financial success!

Description:

The Buy & Hold investment strategy will benefit both new and seasoned Real Estate Investors. Analyze and know when it is appropriate for a potential investment to be added to your long-term investment portfolio or whether it should be flipped, wholesaled or avoided completely. Learn how to differentiate between available funding options for specific properties and how to identify the cash flow variables and potential obstacles of each. Exit strategy is key, and this course will help you know yours before you purchase that investment property, even when you plan to keep it. Learn how to adjust your acquisition and negotiation strategies for investment properties located in Mortgage States vs. Deed of Trust States, and learn what title insurance does and does not protect.  Review the closing documents and other paperwork that is utilized in every transaction and is key to your investing success.

  • 01

    Pre-Assessment

    This Pre-Assessment is to raise awareness of your current knowledge level and give you a glimpse of the information covered in this course.

  • 02

    Class Introduction

    Chris begins with recent real estate issues in the news and how the media can affect landlords, especially when mistakes are made.

  • 03

    Discrimination Law

    Current concerns about medical marijuana and protected classes are addressed along with federal seizure laws.

  • Show all 48 segments

    • 04

      Background Checks

      Screening applicants is vital for finding good tenants, and the instructor gives some tips for how to reject applicants without breaking any discrimination laws.

    • 05

      Medical and Other Special Circumstances

      How do you handle a difficult situation, when a tenant can't pay rent because of medical or funeral expenses? Chris covers the options and shares what actions he takes.

    • 06

      Communication

      Learn why Communication is the key to being a good landlord and what steps you can take to successfully manage your properties.

    • 07

      Disclaimers, Notices, and Your Motto

      Chris shares his Motto and how having a motto can improve the results you get as a landlord. What should be included in your motto?

    • 08

      Knowledge and Mis-knowledge

      In a world of instant information, learn what a landlord can do to protect themselves against unexpected legal situations. Chris also covers rental agreement timing.

    • 09

      Lease Agreement Question and Answer

      Setting rental prices and renewing lease agreements are both covered in this Q&A session.

    • 10

      Month-to-Month Leasing

      Learn why the court, tenants, judges and housing authorities respect landlords more when the lease is not month-to-month.

    • 11

      Finding Your Tenant

      Is it better to pay a management company or find tenants yourself? Is it better to use signs or media advertisements? Learn the answers to these issues and more.

    • 12

      Advertising

      Understand when internet advertising is the right choice and why simple handouts might work for your property.

    • 13

      Accounts

      Learn the difference between a secure account, operating account, budget account and transfer/sweep account.

    • 14

      Repairs

      Who pays for repairs? Chris discusses which fixes he pays for, which ones the tenant is responsible for, and which ones should not ever be made.

    • 15

      Repairs Question and Answer

      Chris addresses the issues of pest control responsibilities and when to send in an exterminator.

    • 16

      Handling Maintenance

      Know what steps need to be taken to ensure legal agreements are kept and property is taken care of efficiently.

    • 17

      Minimizing Urgent Maintenance Calls

      Learn why a maintenance guarantee may not be in your best interest as a landlord and what you can do instead to minimize urgent calls from your tenants.

    • 18

      Landlord's Right to Enter and Maintenance Incentives

      Spring tune-ups and winter prep checklists are just two of the ways to encourage tenants to maintain their homes.

    • 19

      Application

      What should and should not be included on an application? How can landlords protect themselves from discrimination law suits with their application?

    • 20

      Sample Application

      Chris shares the exact application he uses and explains each piece of information given and required.

    • 21

      Professional References

      This segment continues working through the application and focuses on how to verify information and find inaccuracies or misleading applicants.

    • 22

      The Phone Call and Pre-screen

      Learn what to look for when you conduct an interview and what to ask that will give you the whole picture, not just the one they want you to see.

    • 23

      Phone Call Continued and Comfort animals

      With so many new legal allowances, it's important to know what rules and restrictions you can set and enforce.

    • 24

      Pets Question and Answer

      This important topic is opened to the audience and Chris addresses their questions.

    • 25

      Meeting the Applicant

      Chris explains how you can use a showing to increase tenant interest in multiple properties and learn more about the possible tenant.

    • 26

      Check and Verify

      Avoid terrible tenants by verifying employment, references, former landlords and more.

    • 27

      Issues, Concerns, and Screening

      Know the reliable tools, sources, processes and applications you can use to find and keep the best tenants as Chris refers to his Point System.

    • 28

      Screening Continued with Credit and Criminal History

      What is acceptable in an applicant's credit score and when should allowances be made? Learn how Chris translates answers into points to make his decision.

    • 29

      Pets

      Learn about the pet-related questions you can ask applicants, without discriminating, and how to respond to the answers you don't want to hear.

    • 30

      Smoking

      Chris dives into this controversial topic and shares how you can reduce the negative effects of tenants who smoke medical marijuana.

    • 31

      Tools

      Comprehensive tenant screening programs can be purchased and used to assist in the tenant selection process. Learn which ones our instructor has found to be reliable.

    • 32

      Question and Answer and Code Compliance

      What is the Landlord Tenant Act and when does it apply to you? Security deposits, lease terms and party responsibilities are all regulated by this document.

    • 33

      Common Areas and the Landlord Tenant Act

      More discussion of the Landlord Tenant Act, including the landlord's obligations and the tenant's obligations.

    • 34

      Landlord Tenant Act and Lead-Based Paint

      This segment finishes up discussion of the tenant's responsibilities and covers solutions for dealing with and disclosing lead-based paint.

    • 35

      The Fair Housing Act

      Protect yourself from litigation when you understand the points of the Fair Housing Act and know what steps you should take to comply.

    • 36

      Fair Housing Question and Answer

      Chris addresses questions from the live audience about ADA housing, the Landlord Tenant Act, and declining an applicant based on personal credit results.

    • 37

      Brokerage and Agency Law

      Chris covers other regulations that affect landlords, such as HOAs, builders, common law, and section 8 housing. He also discusses accepting an applicant.

    • 38

      Lease Strategy and Lease Agreement Example

      Utilize the efficiency of automatic payment systems and programs to increase the stability of your investment and provide added benefits to the tenants.

    • 39

      Lease Agreement Example Continued with Controls

      A detailed walk through the lease agreement, explaining each point and when it can or should be adjusted, and addendum that Chris uses.

    • 40

      Signing the Lease and Security Deposit Law

      What are the requirements involved in signing the lease and collecting a security deposit from the tenants?

    • 41

      Addendum, Notices, and Agreements

      Learn about the most common addendum, notices and agreements that Chris uses and how to implement them.

    • 42

      Move In and Move Out and Taking Responsibility

      In addition to the move-in walk-through, learn why Chris conducts inspections, how often he does them and what he looks for.

    • 43

      Holding Tenants Accountable

      Questions from the live class prompt a discussion of rewarding positive behavior from tenants and handling eviction and damage court cases.

    • 44

      Moving Notice

      Understand how informing a tenant of the cleaning costs for each item in the home can benefit the landlord.

    • 45

      Early Lease Cancellations

      Chris addresses the rights of the landlord and the tenant in various lease cancellation scenarios, from military leave to eviction.

    • 46

      Raising Rents and Minimizing Lawsuits

      Many factors can affect the results of raising the rent. Our instructor covers different options and possible results, sharing how much and when to raise rent.

    • 47

      Are You a Professional Landlord?

      Know what you need to do to be a professional, ensuring profit and continued success as a landlord.

  • 48

    Post-Assessment

    This Post-Assessment is to measure your increased knowledge and see how much information you have retained from the course.