27) Rent Prices are Falling & Why Silent Partners Rule

Real Estate Investing with House Money

House Money Weekly

In this week’s House Money Weekly segment, Lauren and Alan get together with their special guest, James from Rethink The Rat Race. They discuss blog 126, how to find a real estate partner. Alan broke it down to 3 steps and the 1st step is you must know what you bring to the table. Someone is going to ask questions like the following to see if they want to partner with you: “Is this person trustworthy?” or “Is this person more of an asset than a liability?”. The 2nd step is to figure out what you need from someone else. James knows he’d only partner with silent partners who have money. No one wants to partner with someone who doesn’t know what they need. And the 3rd step is to be ready to mingle at all times. You must go out there and talk to people, share what you can bring to the table and figure out what you need in them. Do you need money or a contractor, for example? Introduce yourself as a real estate investor.

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Mortgage Minute: Jasmine answers the question: Why might I be denied for a mortgage?

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Real Estate Is Easy Interview

Lauren interviews Marianne Bornhoft, a realtor for over 28 years in Spokane, Washington. She was a local president and local vice president of Washington Realtors and she was a NAR director. Marianne proceeds to explain what a realtor is, and how it differs from a real estate agent. Lauren asks Marianne how hard it is to become a real estate agent and a realtor and what you have to do to become one. Marianne explains that you must have your state required hours and although each state has different hours, the average is 90 to 120 hours. Once you finish that, then you can become a realtor. Marianne also shared her most and least favorite part of being a realtor. Lauren asks Marianne who should become a realtor and she thinks that anyone who can embrace change and challenges can be one. Marianne works hard trying to convince Lauren to become an agent. She doesn’t sound convinced. Marianne makes real estate easy by making it a friendship business. Getting along with your business friends and just making it fun. Alan gives his reaction, as a fellow realtor – the best networking you can do is to close the deal.

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https://www.instagram.com/mariannebornhoft

https://twitter.com/spokanehouse

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https://spokanehouse.com

Guest Host's Segment

Guest Host James brings up a spicy topic from a CNBC article that talks about how apartment rents are declining in some major markets due to speculation and a huge growth in rent increases and also a huge growth in supply over the past few years. Your hosts share their thoughts about whether or not rents are going continue to increase. Any leveling or decrease is temporary, in the hosts’ opinions. They also discuss whether the supply is overbuilt. The answer to that is no – we still don’t have enough supply.

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Lauren:

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Alan:

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