Old Blog - The Kwak Brothers - Part 27

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Pay Off Your Loan Or Invest? Know What’s Better For You

Time and time again, I see people choosing to focus either a mortgage or an investment but not both at the same time. But which option is better to start with? In this article, I will show you how you can invest AND pay off your mortgage without the diminishing effects of either process. I want to show you that it’s possible to pay off your mortgage and invest simultaneously. More often than not, such a decision often depends on your financial situation. While many people believe that paying off money is best since it saves on your interest payments, others may want to invest their extra

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BREAKING! The Eviction Problem Just Got WORSE 😧

The eviction moratorium has completely expired and the US Supreme Court ruled against the CDC wanting to extend the moratorium. In addition to this, recently the Federal Unemployment Benefit also expired this week and the Biden Administration has no intention of bringing the unemployment benefit back as the economy is starting to open up.  https://www.youtube.com/watch?v=uaTUQruQjKQ In this video, I’m going to unpack what this all means and how real estate investors could potentially benefit from the eviction

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Older Posts

July 14, 2020

Rentals, Rehabs, and Wholesaling with Russell Walker

In this podcast, Daniel sits down with Russell Walker to discuss everything from his first deal experience(s), to how to educate yourself as you begin, to negotiation tactics you can take with you to your next deal.
July 10, 2020

Mortgage Rates Are PLUMMETING! Should You Refinance Your Mortgage? (WARNING)

Mortgage Rates Are PLUMMETING! Should You Refinance Your Mortgage? It’s one of the biggest headlines right now when it comes to the housing market. Mortgage interest rates are continuing to drop to a historically low rate. This opens up the idea of refinancing your mortgage to get a lower interest rate. How to Pay Off Your Mortgage In 5-7 Years https://youtu.be/3f-ebCjeH8o Sounds good right? Sure! BUT in this video, I am going to EXPOSE all the hidden costs of refinancing your mortgage and how mortgages work to keep paying the bank interest instead of paying off the principal. A low number on your mortgage rates look good on the outside, but when you dive deep into the ACTUAL cost of that mortgage rates, it WILL shock you with how much you actually pay! Lower mortgage rates DO NOT automatically mean you’ll be saving money. With mortgage rates continually dropping to a historical record low, many homeowners are looking to refinance their mortgage. I am advising AGAINST refinancing at the time regardless of the record low mortgage rates. Here is why: Your mortgage is on an amortization schedule, meaning that on a 30-year mortgage, the majority of your monthly payments for the first 7-10 years, will be going towards the interest owed on your mortgage. So, if your mortgage payment is $1000, $800 of that payment goes towards interest, while the remaining $200 goes towards the principal on your mortgage. Within 7-10 years of paying this mortgage, eventually, most of your monthly payment will go towards the principal and then less will go towards interest. Here’s the catch though with refinancing for lower mortgage rates.. When you refinance to lower mortgage rates the amortization schedule RESTARTS to DAY ONE! This means the majority of your monthly payment will go BACK towards INTEREST and less will go towards the principal balance! Not to mention all the extra fees; closing costs, administrative fees, appraisal fees, underwriting fees, title fees…….all for refinancing to lower mortgage rates…… This is almost criminal……..so it’s almost like the mortgage rates DON’T MATTER when it comes to actually pay off your mortgage! BUT never fear, here at The Kwak Brothers, we specialize in paying off your mortgage QUICKLY! Here is a link to a video we created SHOWING you how to ACTUALLY pay off your mortgage within 5-7 years, WITHOUT refinancing to lower mortgage rates!
July 8, 2020

Buying Rental Property: PROVEN Way to Analyzing the Deal

Buying Rental Property THE RIGHT WAY when analyzing deals and running numbers! In this video, we’re going to talk about how to properly break down the numbers when buying rental property. In the recent years, I have gone to several real estate investing seminars (spoke at a few too), real estate investing meetups, and just about any kind of gathering geared towards buying rental property. But one of the things that really makes me scratch my head when attending these seminars/meetups, is the way people break down deals when buying rental property 😲. BUT FEAR NOT, I am here today to show you the PROVEN way to analyze deals when buying rental property!!!!!I do NOT trust a profit and loss statement when buying rental property. And on top of that, I also do NOT trust an offering memorandum provided by brokers/agents/sellers when buying rental property, it may look good, but it’s just highlighting the GOOD stuff and NOT every detail you need to know! So instead of a profit and loss statement/offering memorandum these 3 things is what you will use when buying rental property: 1. Rent Roll: This is a snapshot of current income as represented by the owner of the rental property. Rent roll shows the ACTUAL numbers that the rental property makes in a month. 2. T12 Report: Summarizes the property’s economic performance as defined by the net operating income over the past year. 3. Schedule E/Form 8825: IRS Tax forms used to report income or loss from an investment property. These are the documents that I ask for when looking at buying rental property because it provides HOW the property is actually performing, not just what the seller/agent tells you! So how do we verify that these documents are accurate and up to date when looking at buying rental property? ASK QUESTIONS! For instance, if I look at a Schedule E and see a $15k expense for maintenance, I’ll ask about it, ask the seller to provide pictures or invoices to verify the work! The more I know NOW, the LESS I’ll have to deal with later when buying rental property. The second thing I like to do to verify these documents when buying rental property is to verify through public records online. TAXES will be shown in public record & very important when buying rental property!
July 2, 2020

Recession 2020: HIDDEN Real Estate Strategies

Real Estate Investing Strategies During A Recession! What should Real Estate Investors expect during Recession 2020? Well, our friend Randy Pertler (30-year real estate investor) stops by and shares his vast knowledge about real estate investing strategies during the Recession 2020. Now, the effects of the Recession 2020, that we are currently in, are not yet known for the housing market, we have yet to see the full effects (it will take some time). During the Recession 2020, the value of properties (residential/commercial properties) will be negatively affected by a recession. The result is an abundance of foreclosures which raises the opportunity for investors to acquire properties from distressed sellers. This may sound like a negative/opportunistic action by the investor, but in reality, real estate investors are actually saving those distressed sellers from foreclosure, it’s a win-win. There will be several opportunities for real estate investors during Recession 2020 to acquire properties. The unfortunate reality of a recession is people will be out of work, which means out of money, and will not be able to pay their mortgage. What does that mean for the investor? Opportunity for short sales, subject-to strategy to help property owners with existing financing, and/or lease with an option to buy. Lease options give a renter a choice to purchase the rented property during or at the end of the rental period. This is a great strategy for people who may have foreclosed or are in pre-foreclosure caused by Recession 2020 and you, as the investor, acquired this property already. Most families have already established themselves in the home, school district, neighborhood, etc…..And maybe do not want to move. You as the investor can give them this option to families affected by Recession 2020. Short sales are when a financially distressed homeowner sells his or her property for less than the amount due on the mortgage. The homeowner is underwater and they can not sell their home for the price they owe. You as the investor can work on the homeowner’s behalf to negotiate with the lender for a price on the home. Typically, banks & lenders do NOT want to go through the foreclosure process because it can cost time and money. ALSO if they have so many foreclosures on their books, The Fed will be less likely to lend to them based on their numbers….another effect of Recession 2020. Recession 2020: An opportunity for investing and helping the unfortunate.
June 30, 2020

Buying First Rental Property – HIDDEN Startup Costs to Avoid!