Midwest Invest Report

Join the Midwest Invest Report Newsletter for free: https://midwest-invest-report.beehiiv... Mike & Kyle break down the specifics of how a rate buydown actually works.  Mike Boyle at Canopy Mortgage: https://canopymortgage.com/lo/mikeboyle/ Don't miss our other episodes: 013 - May Market Update, Using Days On Market to Find Deals, & REI Meetup Notes   • 013 - May Market Update, Using Days O...  012 - Finished vs Unfinished Basements, The New 1% Rule for REI, & 10x is Easy Than 2x   • 012 - Finished vs Unfinished Basement...  011 - No Fed Interest Rate Cuts, 3 Ways To Invest in RE Right Now, Start Using ChatGPT   • 011 - No Fed Interest Rate Cuts, 3 Wa...  Chapters 00:00 Introduction and Market Story 03:45 Introduction of Mike Boyle from Canopy Mortgage 11:16 Explaining the Three, Two, One Buy Down Loan Strategy 24:55 Importance of Building Relationships in the Mortgage Industry 29:27 Using Trello for Project Organization

Subscribe to the Midwest Invest Report NEWSLETTER and unlock key insights the Fargo/Moorhead real estate market.  https://midwest-invest-report.beehiiv.com/subscribe Summary In this episode, Kyle discusses the May market conditions in Fargo, Moorhead, and West Fargo. He highlights the two different real estate markets within the area based on price points, properties priced at $350,000 and below are in high demand and experiencing a seller's market, while properties priced at $350,000 and above are seeing more stagnation and price reductions. Kyle emphasizes the importance of watching the days on market metric and how it can indicate negotiation power for buyers. He also shares the value of attending local real estate meetups to learn and network. #Maymarketconditions #Fargo #Moorhead #WestFargo #sellersmarket #daysonmarket #REI Chapters 00:00 May Market Conditions in Fargo, Moorhead, and West Fargo 02:05 The Two Market Market: $350,000 and Below vs. $350,000 and Above 05:22 The Importance of Watching the Days on Market Metric 09:41 Negotiation Power in the Market 14:01 The Value of Local Real Estate Meetups Subscribe to the Midwest Invest Report Newsletter Today: https://midwest-invest-report.beehiiv.com/subscribe

Subscribe to the Midwest Invest Report NEWSELETTER and unlock key insights the Fargo/Moorhead real estate market.  https://midwest-invest-report.beehiiv... Summary In this conversation, Kyle Reedstrom discusses the idea of the new 1% rule in real estate investing and the importance of finishing unfinished space in homes. He also recommends a book called '10X is Easier Than 2X' by Dan Sullivan as the tool of the week. Takeaways - The 1% rule in real estate investing is becoming harder to achieve due to increasing property prices and expenses. - To hit the new 1% rule, investors need to either lower expenses or increase income. - Finishing unfinished space in a home can add value and potentially increase ROI. - The book '10X is Easier Than 2X' by Dan Sullivan is recommended for business owners and those looking to think bigger and achieve greater success. Chapters 00:00 Introduction and Market Minute: Finishing Unfinished Space in Homes 06:55 The New 1% Rule in Real Estate Investing 14:49 Lowering Expenses and Increasing Income to Hit the New 1% Rule Subscribe to the Midwest Invest Report Newsletter Today: https://midwest-invest-report.beehiiv...

Subscribe to the Midwest Invest Report NEWSELETTER and unlock key insights the Fargo/Moorhead real estate market.  https://midwest-invest-report.beehiiv.com/subscribe Summary In this episode of the Midwest Invest Report, host Kyle Reedstrom discusses the possibility of Fed rate cuts and how they may impact real estate investing. He also shares three ways to get into real estate investing now, even without a large down payment. Finally, he introduces the tool of the week, Chat GPT, an AI technology that can help with brainstorming and problem-solving. #Fedratecuts #realestateinvesting #downpayment #partnership #linesofcredit #contractfordeed #sellerfinancing #chatgpt  Takeaways - The possibility of Fed rate cuts is a hot topic, but it's important to remember that interest rates are already locked in for most people. - Three ways to get into real estate investing now without a large down payment are: partnering up, leveraging lines of credit, and exploring options like contract for deed or seller financing. - Chat GPT is a useful AI technology that can help with brainstorming and problem-solving in various areas of life and work. Sound Bites:  "Doubts creep in about a Fed rate cut this year. Traders started their year predicting up to seven cuts. Now many are betting on one or two or none." "I want to get into real estate investing, but I don't have the money right now. How do you get in instead of just waiting and stacking pennies?" "Lines of credit can be used to leverage into your down payment. This is the story of how I got into real estate investing." Chapters 00:00 Introduction and the Fed Rate Cut 04:12 Getting into Real Estate Investing without a Large Down Payment 08:58 Using Lines of Credit to Leverage into a Down Payment 13:13 The Tool of the Week: Chat GPT Subscribe to the Midwest Invest Report Newsletter Today: https://midwest-invest-report.beehiiv.com/subscribe

Subscribe to the Midwest Invest Report NEWSELETTER and unlock key insights the Fargo/Moorhead real estate market. https://midwest-invest-report.beehiiv.com/subscribe  Welcome back to the Midwest Invest Report.  In today's video, we dive deep into the essentials of securing loan approvals, understanding deal analysis fundamentals, and optimizing your workflow with our tool of the week, Zappier. 🏡 Loan Approval Essentials: Securing a loan can be daunting, but fear not. We break down precisely what lenders need to get you approved for that crucial financing. From credit scores to debt-to-income ratios, we cover it all to empower you on your journey to homeownership or real estate investment success. 💼 Deal Analysis 101: Every successful real estate investor knows the importance of deal analysis. Join us as we explore the fundamentals behind "Finding the deal". 🛠️ Tool of the Week: Zappier: Say hello to Zappier – your new productivity powerhouse! Discover how Zappier can revolutionize the way you work by automating repetitive tasks and integrating your favorite apps seamlessly. From lead management to workflow automation, Zappier simplifies your life and supercharges your efficiency. #RealEstateFinance #LoanApproval #DealAnalysis #Zappier #ProductivityHacks #RealEstateInvesting Subscribe to the Midwest Invest Report Newsletter Today: https://midwest-invest-report.beehiiv.com/subscribe 

Subscribe to the Midwest Invest Report Newsletter Today: https://midwest-invest-report.beehiiv.com/subscribe Summary In this episode of the Midwest Invest Report, Kyle Reedstrom discusses the controversy surrounding real estate agent commission and the importance of offering buyer agent commission. He shares a story about a listing that didn't sell due to the lack of buyer agent commission. Kyle then explains the zero down payment housing program in North Dakota, highlighting the income requirements and benefits of the program. He concludes the episode by recommending the app Marco Polo as a tool for improved communication. Takeaways - Offering buyer agent commission is a crucial strategy to attract more attention to a property and increase the chances of a successful sale. - The zero down payment housing program in North Dakota provides assistance to low-income buyers, allowing them to purchase a home without a down payment. - The program forgives the assistance loan over time, making it a beneficial option for first-time buyers and real estate investors. - The app Marco Polo can enhance communication by allowing users to send video messages, improving the human aspect of interactions.

Subscribe to the Midwest Invest Report and unlock key insights the Fargo/Moorhead real estate market.  https://midwest-invest-report.beehiiv.com/subscribe Summary In this episode of the Midwest Invest Report, Kyle Reedstrom discusses the benefits of condos over single-family homes in the Fargo Moorhead market. He explores the lower maintenance, amenities, affordability, location, community, and security that condos offer. Kyle then brings on guest Trevor Schmidt to discuss the impact of adjustable rate mortgages and interest rate changes on investors. They delve into the challenges investors may face when their mortgage rates expire and the potential need for more equity. Finally, Kyle shares a tool called Qapital, a savings app that helps users set and achieve their savings goals. Link to Qapital: https://get.qapital.com/EOVDouFCGeb Subscribe to the Midwest Invest Report Today: https://midwest-invest-report.beehiiv.com/subscribe

Subscribe to the Midwest Invest Report and unlock key insights the Fargo/Moorhead real estate market.   https://midwest-invest-report.beehiiv.com/subscribe In this episode of the Midwest Invest Report, Kyle discusses escalation clauses in real estate, the importance of understanding insurance, the difference between captive and independent insurance, and the concept of self-insuring versus low deductible insurance. He also ends the episode with a journal prompt about identifying one's unique-ability. Takeaways: Escalation clauses can be a useful tool in competitive real estate markets to make competitive offers on properties. Insurance costs have been increasing due to rising costs in other industries, such as labor and materials. Captive insurance companies only sell their own products, while independent insurance brokers can quote multiple carriers for the best price and coverage. Consider self-insuring and raising deductibles to lower insurance premiums, especially if you have a financial safety net. Reflect on your unique ability and how it can be leveraged in your personal and professional life. Chapters 00:00 Introduction and Market Minute 02:14 Escalation Clauses in Real Estate 05:01 Understanding Insurance 09:45 Captive Insurance vs Independent Insurance 12:40 Self-Insuring vs Low Deductible Insurance 13:35 Journal Prompt: What is My Unique Ability? Subscribe to the Midwest Invest Report Today: https://midwest-invest-report.beehiiv.com/subscribe

Subscribe to the Midwest Invest Report and unlock key insights the Fargo/Moorhead real estate market.   https://midwest-invest-report.beehiiv.com/subscribe In this episode of the Midwest Invest Report, Kyle discusses the twin home market in Fargo-Moorhead and the costs involved in getting a house hack. Takeaways - The twin home market in Fargo-Moorhead is currently in high demand, with limited supply in certain areas. - When investing in real estate with $10,000, it is important to consider the various costs involved, such as earnest money, inspection fees, and lender fees. - Negotiating closing costs and utilizing state assistance programs can help reduce the financial burden of buying a property. - Re-reading a book can provide new insights and perspectives, especially as personal circumstances and knowledge evolve over time. - Post-closing costs, such as lawn and snow maintenance, equipment, rent collection systems, and professional tax services, should be budgeted for in real estate investments. Chapters 00:00 Introduction and Twin Home Market 07:28 Real Estate Investing with $10,000 08:25 Costs Involved in Getting a House Hack 19:52 Post-Closing Costs 21:04 Conclusion Subscribe to the Midwest Invest Report Today:   https://midwest-invest-report.beehiiv.com/subscribe

Subscribe to the Midwest Invest Report and unlock key insights into your real estate market.   https://midwest-invest-report.beehiiv.com/subscribe  Navigate interest rate expirations, identify BRRR (buy, rehab, rent, refinance, repeat) opportunities, and dive into the ROI of home improvements on this episode of the Midwest Invest Report Podcast with Kyle Reedstrom. Currently the Fargo/Moorhead market has a low inventory of multifamily properties, making it a potentially favorable time for sellers.  Don't miss out on Kyle's advice to maintaining motivation and achieving success in real estate investing. Subscribe to the Midwest Invest Report and unlock key insights into your real estate market.   https://midwest-invest-report.beehiiv.com/subscribe  Time Stamps: 01:41 Market Minute 06:01 Q&A Session - Navigating Interest Rates, BRRR 14:31 ROI of Home Improvements 19:25 Journal Prompt

Get your copy of the Midwest Invest Report Newsletter: https://midwest-invest-report.beehiiv.com/subscribe  Learn how to successfully generate positive cashflow via house hacking in the Fargo/Moorhead area with Kyle Reedstrom on the Midwest Invest Report. Quick deep dive into how special assessments affect your property. Kyle delivers the exact strategy you can use to improve the cashflow and lower the expenses from your house hack. Yet again the importance of having a three-year vision is exemplified and Kyle explains how it can only positively impact your real estate investing journey. Subscribe to the Midwest Invest Report and unlock key insights into your real estate market.   https://midwest-invest-report.beehiiv.com/subscribe  Time Stamps: 01:51 Market Minute 04:15 Understanding Special Assessments 08:09 Improving Cashflow on House Hacks 19:45 Journal Prompt: Setting Cashflow Goals

Get your copy of the Midwest Invest Report Newsletter: https://midwest-invest-report.beehiiv.com/subscribe  Dive into the heart of the Fargo/Moorhead real estate market with Kyle on the Midwest Invest Report.  Uncover the secrets of house-hacking duplexes and discover the game-changing perks of renting to own.  Kyle spills the beans on the crucial four systems for successful house hacking: property management, maintenance, bookkeeping, and the power of a 3 year vision.  Don't miss out on the insider tips for managing personal cash flow and making real estate investments work for you.  Join us as we delve deep into the dynamic world of Midwest real estate, packed with insights to supercharge your property journey.  #RealEstate #MidwestInvest #HouseHack Subscribe to the Midwest Invest Report and unlock key insights into your real estate market.   https://midwest-invest-report.beehiiv.com/subscribe  Time Stamps:  00:00 Introduction and Purpose of the Show 01:26 The Midwest Invest Newsletter 02:24 Market Minute: Rent to Own 08:07 House Hacking a Duplex 16:22 Journal Prompt: Personal Cash Flow 18:49 Wrap-up 

Subscribe to the Midwest Invest Report Newsletter: https://midwest-invest-report.beehiiv.com/subscribe In this episode, Kyle Reedstrom discusses the current state of the real estate market.  He then dives into the topic of house hacking and provides five steps for those interested in pursuing this strategy. He also highlights who house hacking is suitable for and emphasizes the importance of building a team. Time Stamps 00:00 Introduction and Market Minute 06:38 House Hacking: Five Next Steps 16:18 Who is House Hacking For?