Women Invest in Real Estate

Welcome back to the Women Invest In Real Estate podcast! This is episode three is our four-part mini-series with Jenn and Joe Delle Fave and we are so excited to dive into today's topic: rent to own. Rent to own has a very specific creative financing strategy that Jenn and Joe are well-versed in.But, before we get started if you haven't listened to the first two episodes in this mini-series follow these links to check them out:Episode 35Episode 36Jenn and Joe began implementing the rent-to-own strategy in 2017. They had a handful of single-family homes rentals at the time and the thought of being a landlord became overwhelming and simply put, daunting. They were self-managing all of their rentals when they stumbled upon this new process and they decided to take it head-on. The summer of 2017 was a crazy summer for Jenn and Joe. all of their leases were coming due so they decided to give their tenants first right if they wanted to purchase the homes, which none of them did. They all moved out and Jenn and Joe converted all of the single-family homes into rent-to-own properties. The reason why they love this strategy so much is that they get to help their renters turn themselves into homeowners; what many would call the American dream. While they’re technically losing doors if tenants buy the property but that's okay because they can always get more doors. Their goal is to work with tenant-buyers and collect a large non-refundable option deposit upfront before they move in.The tenants then continue to pay monthly rent and Jenn and Joe make cash flow each month. also with rent to own the tenant-buyer is responsible for items such as maintenance, any repairs to the property, and all utilities. Also, the tenant is more likely to keep up with all of the repairs and home maintenance when they're planning to purchase the home in the long run and they've already paid the non-refundable option deposit. Those tenants are treating the home like their very own, decorating landscaping and making it theirs and that is a really cool thing to be able to do for someone who might not otherwise have the opportunity to purchase a home.Some of their favorite ways to advertise their rent-to-own properties are:Facebook groups and/or marketplace (surprise, our favorite too!)CraigslistZillowRoad signs…Any…way…possible!With all of these methods, you can typically expect a huge influx of interest, but the key to filtering through all of them is to look specifically for the people who have that non-refundable option deposit, in hand.That concludes episode three of our four-part creative financing series with Jenn and Joe, make sure you tune in next week for the fourth and final episode! We’ll catch you next week, friends!  Resources:Book a Consultation Call with Jenn & Joe and mention WIIRE to receive $2,500 off their programs!Listen to WIIRE Episode 35Listen to WIIRE Episode 36Visit Jenn’s websiteConnect with Jenn & Joe on InstagramCheck out Jenn & Joe on YouTubeJoin our private Facebook CommunityConnect with us on Instagram

Welcome back to the Women Invest In Real Estate podcast, friends! This episode is part 2 of our 4-episode mini-series with investors and creative finance specialists, Jenn & Joe Delle Fave. This week, we’re diving into how to find creative finance deals and what to say to a seller to get the conversation started, plus we’re walking through how to put together and negotiate a creative finance deal from start to finish. Let’s get started!If you haven’t already, go back and listen to episode 35, where Jenn & Joe broke down the most common creative financing methods. “If you don’t have leads, you don’t have a business.”How do you find creative financing leads?One of Jenn & Joe’s favorite ways to find leads is actually by connecting with people on social media, specifically Facebook (also one of our favorites as well). Believe it or not, Facebook is one of the largest platforms that people go to list properties they’re trying to sell. But, they’re not looking in real estate groups. They look at local buy, sell, trade pages, and also local garage sale pages to find leads as well.  What do you say to the seller when you want to propose a creative finance deal?One of the best parts of Jenn & Joe’s Creative Finance Playbook (keep reading!) is the script they give you to use in this exact scenario. It’s all about asking the right questions to keep the conversation moving forward. The most important piece of this is to make sure you find out why they are selling so you can pinpoint how you can best help them reach their goals and stay in alignment with your own.  How do you fill out a creative financing purchase agreement?While each deal can differ based on terms, the basics remain the same. Jenn & Joe use a standard purchase sellers agreement for their county that outlines:Who is the buyerWho is the sellerBoth parties informationPayment terms (including: purchase price, monthly payment, term length, money down, or any other comments/notes)Any addendums or other required informationAll of this information will be forwarded to your attorney who will put together the final agreement. Thanks for listening friends, make sure you tune in again next week for part 3! We’ll catch you in the next episode!  Resources:Listen to Episode 35, part 1 of the 4-episode mini-seriesBook a Consultation Call with Jenn & Joe and mention WIIRE to receive $2,500 off their programs!Visit Jenn’s websiteConnect with Jenn & Joe on InstagramCheck out Jenn & Joe on YouTubeJoin our private Facebook CommunityConnect with us on Instagram

Hi everyone, welcome back to the WIIRE podcast! This week we are excited to welcome our dear friends, and Grace’s mentors, Jenn & Joe Delle Fave. You’ll remember Jenn, who joined us recently in episode 33, and this week her husband Joe is joining us for a jam-packed episode about creative financing. This episode is going to be full of awesome information, plus they’re sharing a special offer for their Creative Finance Playbook just for our listeners. We’re so excited, so let’s dive in!Joe has been buying houses as a REI for just over 20 years now. He and Jenn met about 15 years ago, they got married, and started a family together, all with regular 9-5 jobs. Joe was a finance manager at a car dealership and Jenn was a teacher. They began doing real estate on the side together and had a vision of doing it full-time and eventually turned that dream into reality in March of 2020.Hear more about their story in episode 33 here. Before they even knew what BRRR meant, they were buying houses, fixing them up, then refinancing and pulling cash out of their deals. While they weren’t the first to do it, they knew their process was highly unique and they could do something different. From there, they learned how to creatively finance buying and selling properties to place themselves in this niche market. They weren’t just buying houses, they had a strategy behind their buys and a strategy behind selling properties as well.“Creative Financing, in its simplest form is the ability to buy real estate without having to go through the traditional process.”In this episode, we're breaking down these 4 creative financing strategies:Seller FinancingSub ToWrap MortgageLease SandwichMake sure you tune in to episodes 36, 37, and 38 to hear more about creative financing (and so much more!) from Jenn and Joe Delle Fave!Thank you so much for joining us this week, we’ll catch you in the next episode!  Resources:Book a Consultation Call with Jenn & Joe and mention WIIRE to receive $2,500 off their programs!Visit Jenn’s websiteConnect with Jenn & Joe on InstagramCheck out Jenn & Joe on YouTubeJoin our private Facebook CommunityConnect with us on Instagram

Hello everyone, welcome back to another podcast episode. This week we're talking about our favorite topic (again), mid-term rentals! This is not only one of our favorite topics but from the feedback we’ve been getting we are learning it is your favorite topic too (amazing!)! So in this week’s WIIRE podcast episode, we will be walking you through all of the software we use in our businesses to manage our MTRs!We have learned so much about the various software tools as we have moved through the various stages of our businesses and we are so excited to be able to break down what has worked, what didn’t, and are sharing some of our best tips or running a successful MTR. When we each launched our businesses we didn’t have a ‘list’ of software tools, but instead, we learned as we went along so we’re going to save you a lot of legwork by sharing all of our research and lessons learned. Let’s dive in!Tool #1: FurnishedFinderThis should be the very first place you go to market your MTR to potential tenants. They specifically target the traveling nurse niche of the market, along with some other traveling professionals, and will find so many leads from this one place! FurnishedFinder is the place for you to be when you are ready to list your property because this is where you will find so many leads. You will receive booking inquiries and housing requests, but it is also important to remember to be actively reaching out to potential leads, rather than waiting on them to reach out to you, first.Tool #2: TenantCloudTenantCloud is an amazing website that will help you move tenants off of FurnishedFinder and into a property management space with ease. Once you have found your lead on FurnishedFinder, you can migrate them over to TenantCloud, which allows you to do everything from creating leases, maintenance requests, communication, invoices, and accepting rental payments, and more, for a super budget-friendly price. Remember, it is super important to build a solid foundation for your REI business if you plan to scale and TenantCloud is a great way to start!Tool #3: HospitableHospitable allows you to keep all of your tenant's stays from all of the various platforms (FurnishedFinder, Airbnb, VRBO, etc.) in one place to avoid overbooking, and much more. The calendar feature in Hospitable is amazing but you can also set up notification settings, for example, every time a tenant moves Hospitable can notify your cleaner automatically - a total game-changer! You never have to schedule cleanings automatically. It also reminds you (or your property manager) to do things like send back a deposit, etc. So many features that can help take the thinking out of recurring tasks that are normally forgotten.Best Tips for Running a Successful MTRUse keypad locks, for unit entry, instead of traditional key locks. Smart or basic, both work great!Provide your tenants with a Welcome Guide (or, shameless plug, get ours when you join MTR Profit Academy!)Get yourself a damn good cleaner, who is a good communicator and knows how to check in using technology!If you want more info on MTR Profit Academy, check out our website or email us directly! We’re more than happy to help and would love to inside!Alright, that is all we have for you this week. Thank you so much for listening, and we'll catch you in the next episode!  Resources:Join us inside MTR Profit AcademyVisit FurnishedFinder to find leads for your propertiesUse TenantCloud to get organizedCheck out Hospitable for your bizJoin our private Facebook CommunityConnect with us on Instagram

Hello everyone, welcome back to another podcast episode. This week we are so pumped to introduce you to our friend and mentor, Jenn Delle Fave, who is going to talk about all things wholesaling, and also dive a little bit into creative financing since that is her niche. Jenn and her husband Joe are all about creative financing and wholesaling can be such a scary topic so we are going to break down exactly how it works so you can dive into it, a little less scared. While it can be scary to start, wholesaling can be an extremely fruitful tool to have in your investor toolbelt. Jenn and Joe have been married for just shy of 13 years, have two kiddos that they homeschool, and recently relocated from upstate New York to sunny Florida. They love having the ability to live their lives on their own terms! They do real estate full-time, having just opened an office with full-time employees, and also offer coaching. Lots of different avenues and are excited for what 2023 will bring their way!It is also important to note that they are not realtors, so when we say they opened an office, it’s not a real estate office, it's specifically focused on creative financing and wholesaling. To say they stay busy would be an understatement, but they truly are passionate about their work and while it may sound cheesy they know they are in the right place doing what they love because they truly enjoy it.Their journey started when Joe wholesaled his first deal well over 20 years ago, before Jenn was even in the picture. But when they met in 2008, they began buying junk houses together off the MLS when the market crashed, they discovered they despised being landlords. They decided to pivot into the rent-to-own model and began to learn the art of creative financing. They started accumulating properties with little to no money down, taking over sellers' payments, and have been able to build their portfolio well into the 20s. They actually help people own their own homes so the numbers are constantly changing with gaining and losing doors. Jenn and Joe have also really dove into wholesaling to help their company grow. After Joe’s first stent, it didn’t happen again until 2020. To learn more about Jenn you can head over to Instagram. They also have an awesome   Facebook group, Creative Finance Playbook with Jenn and Joe, where they go LIVE every Tuesday. Inside their group they offer free trainings, talk about their deals and share other great information. You can also follow them on their YouTube channel.Thank you so much for tuning in. We'll catch you in the next episode.  Resources:Connect with Jenn on InstagramCheck out Jenn & Joe on YouTubeRegister for Creative Financing PlaybookVisit Jenn’s websiteJoin our private WIIRE Facebook CommunityConnect with us on Instagram

Hello everyone, welcome back to episode 32 of the WIIRE Podcast! This week we have a special request from one of our followers on Instagram. Melissa writes: “Hello loving your podcast. I'm new to real estate and we are looking for strictly cash flow to pay for liabilities we have. My husband wants to buy our first investment property with cash, hold, and then later when rates come down, and hopefully, the place appreciates, refinance. I would love a podcast on buying all cash and whether you think that would be okay?”The short answer, it depends. But what does it depend on?Well, there are a few factors we would take into consideration before making this decision and in this episode were going to talk about strategies for buying cash, the perks, and the pitfalls of both ways. What it really comes down to is being able to predict when rates are going to come down. If we could do that, we would be crazy rich. But since we can’t we need to know how to lean into what you know and what you are comfortable with. If you know that you have no debt on a property and you want one cash-flowing rental then that could be a great option. However, if you are looking to scale we would advise against it because you want to keep your capital moving, as quickly as possible in most cases.So many things can happen to any one given property so consider that. We like to have some diversification in our portfolios. Even if all of your properties are in the same market you can still have a diverse portfolio because you are not relying on one single tenant to pay for everything for you. If you are planning to buy a property then BRRR, or refinance within six months to a year, then we would consider that purchase. Melissa also mentioned refinancing when the rates come down, but consider this: why not purchase it via financing right now, then refinance again when those rates come down? “Just because you have a loan on it doesn’t mean you can’t refinance it.”For us, we're in scale mode; so it's all about the next property. However, Melissa might not be. She might want one and done and that's okay. It’s a really personal decision and there is a lot to consider on both sides. Thank you SO much, Melissa, for submitting that question. If you have a question you’d like us to feature in an upcoming episode send us a DM on Instagram or reach out via email. Thanks for tuning in, we’ll catch you in the next episode!  Resources:Join our private Facebook CommunityConnect with us on Instagram

Hey everyone, welcome back to another WIIRE podcast episode. This week we’re diving into a fun topic; 7 ways to find off-market properties. Both of us have purchased a good majority of our deals when they were off-market so we have some great stories and experiences to share with you. Method 1: Driving for DollarsThis tried-and-true method involves you simply getting into your car, and taking a drive. While we have found that this method tends to work better in smaller towns, that doesn’t mean it won’t work anywhere, it just means you have to be more specific. What we do is drive around, looking for run-down multi-family properties, write down the address, then looking up the owner's information on the assessor's website. Once you find out who the owner is reach out to them, and ask if they have considered selling. Start the conversation, don’t overthink it, and don’t be afraid to ask. Lastly, remember that some ‘no’s’ might also mean ‘not right now’.  Method 2: Direct MailThe direct mail method can happen in two ways: one is if you are looking on a smaller scale to find a property you like (think about method 1) and write them a handwritten note. The second way is more of a professional approach, but also more costly and yields a larger number of leads. However, with this route, you have to be prepared to funnel in a large number of leads and scale quickly. Method 3: Calling For-Rent SignsThis is how Grace found her first property. She called the number on a for-rent sign and after realizing the owner was an investor she asked if they had any available properties they were interested in selling. After getting a list of around 30 properties, Grace asked to see the crappiest property because they knew they could make a massive dent and turn it into a BRRR. After walking the property they went under contract, while it was off the market.  Method 4: WholesalersIn the world of REI, knowing people is truly where it’s at. Make sure you are joining local Facebook groups and attending local networking events to make those connections with wholesalers in your area. If you are going the wholesale route, make sure you are crystal clear on your buy-box so your time is not wasted by people sending you properties you wouldn’t even consider. Lastly, wholesalers are willing to sell quickly, for a lowball cash offer, which means you have to have cash and close quickly. Method 5: Word-of-Mouth/ Contractors/ NetworkingAnother favorite method of ours, word-of-mouth is an effective way to find off-market properties. Don’t be afraid to shout from the rooftops what you do and what you are looking for. We recommend having a space (whether that is on Facebook or IG) where people can follow you and you can keep your name in their heads so when they do hear about a deal, they remember to connect with you about it. This also goes for letting your contractors know because they know a lot of people and are very well-connected.  Method 6: Social MediaWe touched previously on social media but when you make sure people can find you easily and see what you are doing people are much more likely to reach out to you. Also, we both have experienced organic leads (both legit and not-so-great) from social media, so make sure you are posting those rehab photos! Method 7: Connecting with Current LandlordsThis final method is another tried-and-true one and we cannot emphasize enough how important it is to utilize your network. Contact investors/property owners, you have purchased from before, or other local landlords to see if they know of any gems that might not be on the market. By purchasing off-market deals you are also avoiding realtor commissions and landlords are always happy to have more money in their pocket from a sale.  The moral of the story about off-market properties is that sometimes they're hard to find, but if you just keep your eye out, you're constantly putting yourself out there, and you're always asking questions, they will come to you.We hope you enjoyed this episode and we will catch you in the next one.  Resources:Get clear on your Buy-BoxListen to our Guide to Rental ArbitrageJoin our private Facebook CommunityConnect with us on Instagram

Hello friends! Welcome back to the WIIRE Podcast. This week we are super excited to welcome Datha Santomieri from Steadily insurance onto the show to share with us all things landlord insurance. Datha is one of the co-founders and head of insurance at Steadily, an insurance solution for landlords, and also REI investors themselves. Datha has done a few flips of her own and one of her first flips was on a 7,000-square-foot property (what?!?) in Kansas. When she tried to get insurance on it during the renovation period it took dozens of phone calls and very few follow-ups to find an agent that knew how to correctly cover her property. It was such a clunky process and Datha knew the process could, and should be, much simpler. With her co-founders having similar experiences they knew it just didn't make any sense why it had to be so complicated to find insurance for investment properties. After a few years of frustration, they realized they were best positioned to solve the problem themselves. Being an insurance person herself, Datha had spent her entire career in the insurance industry, building programs and rolling out technology and operations to support them. Steadily’s customers love them because they have taken the friction out of something that didn’t need to be complicated in the first place. In this episode, Datha is sharing: Intel between the different types of policies and propertiesHow to make sure your property is covered, correctlyWhat vacant property insurance meansCash value vs replacement value of a propertyThe benefits and how you can best use SteadilyFor more info about Steadily and find out how they can support your REI properties, head to their website to learn more!Thanks for tuning in, we’ll catch you in the next episode!   Resources:Check out Steadily for your REI bizFind Steadily on TwitterLearn about Steadily on LinkedInGet the scoop on Steadily on InstagramHear more about Steadily on FacebookJoin WIIRE’s private Facebook CommunityConnect with us on Instagram

Hello everyone! This week we're going to talk about a very popular topic, arbitrage. More specifically we are going to focus on MTR arbitrage because that is the realm where the majority of our personal experiences lie. Rental arbitrage has become increasingly popular. It is what we would call a buzzword in the real estate world right now, and for good reason. Let’s dive in!We do want to note that a lot of this information will also be helpful when it comes to short-term rental arbitrage as well because when it comes to MTR or STR arbitrage, the execution is nearly the same, either way. It can be a great way to first get started in REI and especially so if you don’t have a lot of capital to work with.  What is rental arbitrage?Rental arbitrage is when you lease a property, then turn around and release it, typically as a mid or short-term rental. Think of it like flipping a lease, except you are the middleman. You are getting the initial lease from the owner, then turning around and releasing it for more money so you are making a profit. What are the benefits of rental arbitrage?It requires less capital to startThere is significantly less risk involvedThey are very easy to startOffers a high ROIYou can choose turnkey properties for quick setupYou can potentially land properties with low, to no maintenance, that you are responsible for since you do not own the property What are the disadvantages of rental arbitrage?No tax benefits since you are not the ownerLess control over the propertyNo control over neighboring tenantsYou are subject to property rules and rent raises by the owner If you are looking for a simple way to get started in REI but have low capital, arbitrage could be an excellent way for you to dip your toe into the industry, before taking the full dive. Thanks for tuning in, we’ll catch you in the next WIIRE episode!  Resources:Check out Steadily for your REI bizJoin our private Facebook CommunityConnect with us on InstagramReserve your spot for our retreat in Salt Lake City

Hey everyone! Welcome to the WIIRE podcast. This week we’re super pumped to welcome onto the podcast our friend Hannah McCoy, a real estate investor who has a very unique perspective on the travel nurse industry because Hannah is actually a travel nurse herself! As an MTR owner, Hannah is bringing a lot of intel to the table and we are excited for you to meet her and get to know a little bit more about not only her journey in real estate investing but also hear a few trade secrets of the travel nurse industry.Hannah began investing in February of 2020 with her boyfriend and now owns four duplexes and one single-family property (plus they’re under contract for another) near where they live just north of Pittsburgh, PA. As an ER nurse, Hannah wanted to be able to travel and make more money and has been working as a traveling nurse since 2021. She decided to try something new and knew the money you could make as a travel nurse was a huge draw and she was so excited to be able to do something different and keep not one but two income streams. Since 2021 Hannah has gained a lot of experience when it comes to looking for, staying in, and how travel nurses best utilize MTRs, and can offer a unique inside perspective to our audience. The travel nurse industry has dramatically changed (and still continues to change) and Hannah is sharing her take as both a travel nurse who stays in MTRs, her perspective as an MTR owner, and the changing seasonality of travel nurses, to help bridge the gap between how we as owners can better understand how travel nurses operate under their contracts and also offer them better services.If you want to see what Hannah is up to you can subscribe to her YouTube Channel or follow her on Instagram.Thanks for tuning in, we’ll catch you in the next episode!  Resources:See what Hannah is up to on InstagramCheck out Hannah’s YouTube ChannelCheck out Steadily for your REI bizJoin our private WIIRE Facebook CommunityConnect with us on InstagramReserve your spot for our retreat in Salt Lake City