The Ask James Wise Show

Episodes 1-100

Is the next Mayor of Cleveland going to be a radical socialist? Is Cleveland going to be destroyed by a Mayor with a communist agenda that attacks the rights of property owners and real estate investors? In the 48th episode of The Ask James Wise Show James Wise responds to the baseless allegations made against HoltonWise by 2021 Cleveland mayoral candidate Justin Bibb when he held a press conference on the front porch of one of the rental properties in the HoltonWise portfolio in Cleveland, Ohio.

 

 

 

BREAKING Supreme Court decision today on the eviction moratorium. The Supreme Court has ruled the CDC's eviction moratorium unconstitutional. This Supreme Court eviction moratorium ruling is good news for those looking at real estate investing as well as those who believe in personal property ownership. In the 47th episode of The Ask James Wise Show we talk about the Supreme Court's ruling on the CDC eviction ban, what the Supreme Court eviction moratorium ruling means for struggling property owners, when the eviction moratorium is likely to end given that the Supreme Court opted not to lift the unconstitutional eviction moratorium immediately, what property owners rights are during this time, when can property owners begin evicting tenants, what property owners can do with tenants who have not paid rent during the covid 19 eviction ban, why evicting tenants is a good idea and much much more.

 

 

 

When will lumber prices go down? When will lumber prices go down!? For the love of God, when will lumber prices go down!?! 2021 lumber prices are finally starting to fall after soaring during the covid pandemic. The moment millions of real estate investors have been waiting for has finally arrived. No longer do real estate buyers need to google "when will lumber prices come down?" before looking at new construction homes. In the 46th episode of The Ask James Wise Show James discusses how the 2021 lumber shortage led to skyrocketing housing prices that had a major effect on real estate investors nationwide. In addition, James Wise covers the following housing and building questions. How will falling lumber prices affect future housing prices and the housing market?  Will we see house prices decline now with lumber crashing?  How does the cost of lumber actually effect the pricing of new construction and with prices pulling back, does that mean the costs of new homes will go down? What does all of these mean for real estate investors doing rehabs and BRRRR deals?

 

 

 

As a new real estate investors you've probably googled "how to screen tenants for rental property?" As a new property manager you may have even googled "how to run a criminal background check on a tenant?" If you are renting a property in New Jersey you may be shocked to know that those activities are now illegal. In the 45th episode of The Ask James Wise Show we are talking about the democratic dumpster fire that is the Fair Chance in Housing Act that was passed into law by New Jersey Governor Phil Murphy. This new law makes it illegal for New Jersey landlords to deny renting their properties to violent criminals. It even goes so far as to make it illegal for New Jersey real estate investors to deny housing to murderers. Based on his race baiting with the Juneteenth National Independence Day Act it looks like New Jersey Governor Phil Murphy thinks keeping your tenants safe is racist. In New Jersey the law is clear, despite obvious safety concerns for their tenants landlords must rent their properties to violent criminals whether they want to or not.

 

 

 

Bad realtors aren't good for investors. Real estate investors all over the world are always looking for those amazing investor friendly real estate agents you hear about all the time. How to find an investor friendly real estate agent is one of the most common questions we get here on HoltonWiseTV. In reality, it's very hard to find a great investor friendly real estate agent who is willing to work with investors who are buying cheap properties. Some of the investor friendly agents out there are actually just realtors who are bad at their job. Most of these investor agents are new realtors who will fail. In the 44th episode of The Ask James Wise Show we discuss why it's so hard for real estate investors to work with a good investor friendly realtor. We cover what it's actually like working with real estate agents who work with investors and go over what real estate investors should do if they actually find a great investor friendly agent to work with. 

 

 

 

Tenant screening can be tricky for new real estate investors. One of the most common questions new property managers have when they are screening tenants for rental property is if it's ok to rent to a tenant who has an eviction on their record. Previous evictions can be confusing because there are many reasons why the potential tenant may have been evicted by their previous landlord. Maybe the tenant lost their job? Maybe it was a wrongful eviction? Maybe the eviction wasn't the tenant's fault. Thing is, evictions are very expensive. Evictions take a long time. Evicting a tenant is a huge hassle for any landlord. Because tenants who where previously evicted have a higher probability of being evited again we have a zero tolerance policy at HoltonWise when it comes to renting property to tenants who have been evicted in the past. In short any tenant with an eviction on their record for any reason is denied housing with HoltonWise. Despite this zero tolerance policy many potential tenants and real estate investors ask us when it's ok to break the zero tolerance policy regarding tenants who have been evicted in the past. In the 43rd episode of The Ask James Wise Show we go over the 10 most common times real estate investors talk themselves into breaking their no eviction policy when they are screening tenants for their rental properties.

 

 

 

A common question new buy and hold real estate investors ask is "what is the best type of property to buy?" In addition, real estate investors would like to know which is the worst type of property to buy. In the 42nd episode of The Ask James Wise Show, James Wise goes over the best real estate investment properties to buy as well as the worst real estate investment properties to buy. 

 

 

 

You are a real estate investor who probably clicked on the 41st episode of The Ask James Wise Show because you are thinking about becoming a landlord. Or, perhaps you are already a property manager who is looking for DIY property management tips. Either way this show won't disappoint. HoltonWiseTV is here to help you become a real estate investor or become a better rental property owner. During the show James goes over 5 things he has learned about tenants during his career as the CEO of the largest scattered site property management company in the Cleveland, Ohio area. From tenant screening to tenant turnover, these are 5 things that seasoned property management professionals can relate to but are a complete shock to anyone who is new to the rental real estate business. From tenants doing drugs to tenants selling sex, these are 5 things you need to know if you want to be successful in rental property management.

 

 

 

Tenant screening is tough. Many landlords wonder how to screen tenants. There are so many aspects to proper tenant screening that it can make new landlords want to pull their hair out. What happens if you make a tenant screening mistake and get yourself a tenant from hell?  In the 40th episode of The Ask James Wise Show James goes over 5 tenant screening tips to help landlords and property managers avoid renting to bad tenants.

 

 

 

Many landlords wonder how to screen tenants. Tenant screening is one of the most important parts of being a landlord or property manager. However tenant screening is also one of the hardest parts of being a landlord or property manager. In the 39th episode of The Ask James Wise Show James goes over 3 types of tenants that you should never rent to. If you rent to these 3 types of tenants your rental property business will suffer and you are going to hate being a landlord or property manager.

 

 

 

Are you a real estate investor who has ever had any of the following questions? What is the best software for real estate investors? What are the best investor tools to grow my business? How can I find off market properties? How do I build a mailing list? How can I get better deals? Where are motivated sellers? Are there apps for real estate investors? Can real estate investor technology grow my business? How to find off market properties? How to buy off market property? What tools can I put in my investor toolbox? If the answer to any of those questions was yes, you are going to want to grab some popcorn and sit down for the next hour as James Wise goes over real estate investor software called Propstream with the company's founder Burton. This real estate investing app is truly a must have for new and seasoned investors.

 

In the 37th episode of The Ask James Wise Show James has an hour long discussion with a California based software developer who has been thinking about quitting his high paying job in order to invest in long distance real estate full time.

 

 

 

In the 36th episode of The Ask James Wise Show James is sitting down for an hour long talk with Jason from California. Jason is a commercial Cannabis grower as well as an established strawberry farmer who would like to diversify his investment portfolio by starting a rental real estate portfolio in Cleveland, Ohio.

 

 

 

The Coronavirus pandemic has caused worldwide chaos from a health and economic standpoint. Over 163,000 people have died from the 2.3+ million confirmed Coronavirus cases across the globe. Social Distancing requirements have caused a record number of US businesses to shut down. In response, many states across the US have been implementing Eviction Moratoriums. Millions of people are wondering how landlords and small business owners are going to survive the economic fallout of COVID-19.

 

In episode 35 of The Ask James Wise Show, James sits down with CJ, the Director of Compliance at USREEB to clear up many of the legal misconceptions rental property owners have about all of these Eviction Moratiorums. In addition, the two discuss Coronavirus resources for tenants, Coronavirus resources for landlords, Coronavirus resources for property managers, why property owners should still file evictions, the legal way to help struggling tenants while not violating fair housing laws or ending up the target of a Disparate Impact case. They also go over the steps landlords can use to safely advertised, market, show and rent their vacant rental properties to tenants who are being subsidized by the government on popular assistance programs such as Section 8.  

 

 

 

What is a real estate fund? How do you invest in a real estate fund? What type of real estate fund is the best? What risks are involved when you invest in a real estate fund? Is investing in a real estate fund the same as investing in turnkey real estate? These questions and more are answer in the 34th episode of The Ask James Wise Show as experienced fund manager & owner of USREEB Sean Tarpenning, sits down with James to discuss a popular turnkey real estate alternative, real estate funds. Sean breaks down the various types of real estate funds that are out there, including the two most common funds; Debt Funds & Equity Funds.

 

 

 

In the 33rd episode of The Ask James Wise Show Brandon from Investment Joy talks shop with James about tenant screening red flags, tenant screening non negotiables, property management practices that work for Brandon, cash paying tenants and slumlords. 

 

 

 

Are you trying to figure out how to raise enough money to buy your first rental property? Are you a seasoned investor looking for unique ways to raise capital for your latest real estate investment? Do you want to buy real estate with no money down? Are you a home flipper in need of short term financing? In the 32nd episode of The Ask James Wise Show James breaks down 10 ways you can fund your first, or next real estate investment with, or without using your own cash.

 

1. Cash 00:47
2. Residential Financing 01:22
3. House Hacking 02:23
4. Commercial Financing 03:37
5. Hard Money Loans 04:53
6. Private Loans 05:47
7. Partnerships 06:41
8. Credit Cards 08:58
9. Seller Financing 10:05
10. Creative Financing Combinations 11:23 

 

 

 

In this episode of The Ask James Wise Show James sits down with Mackaylee Beach from USREEB to put together The Ultimate Guide to Grading Kansas City, Missouri  Neighborhoods.

 

 

 

In the 30th episode of The Ask James Wise Show James explains why the that wholesalers are the only people who can sell distressed properties isn't true. Many people seem to think that if a house is in need of major repairs they cannot sell it using a Real Estate agent and they must use the services of a local wholesaler. James explains why wholesaling is illegal and why wholesaling is not as effective at selling a property as using an Investor focused Real Estate Agent is. In addition he goes over the four worst properties he has ever sold to demonstrate why hiring a Wholesaler to sell a distressed property is a bad choice.

 

 

 

In the 29th episode of The Ask James Wise show James discusses what Landlords & Property Managers should do when the Tenant's rent is late. Should Landlords & Property Managers work with the Tenant? Or should Landlords & Property Managers Evict the Tenant? When is it appropriate for Landlords & Property Managers to try to help the Tenant vs acting tough and Evicting the Tenant? Is Eviction court really as scary as some new Real Estate Investors think it is?

 

 

 

In the 28th episode of The Ask James Wise Show James explains what Property Manager & Landlords should and should not do when their tenants are fighting or in disputes with one another. Many new Property Managers & Landlords tend to overstep their boundaries. James breaks down why that is the wrong move.

 

 

 

In the 27th episode of The Ask James Wise Show James answers a very common question property managers have about their tenant's pets. What do you do if your Tenant gets a Dog without permission? Do you evict the Dog? Do you evict the tenant? Do you let the dog stay? What do you do when your tenant has a dog even though your lease says they aren't allowed to have any pets?

 

 

 

In this episode of The Ask James Wise Show James sits down with Maureen McCann from Spartan Invest to put together The Ultimate Guide to Grading Birmingham Alabama Neighborhoods.

 

 

 

Free Houses. That's right, you can get free houses in places like Cleveland, Ohio. Detroit Michigan. Indianapolis, Indiana. Birmingham, Alabama & Youngstown, Ohio. But what's the deal with getting a house for free? What REALLY happens when you buy a free (or almost) free house? In this episode of Ask James Wise, James Wise & the rest of the Holton-Wise crew uncover the truth behind all of those free houses you've heard about.

 

 

 

Real Estate Broker, Investor & Property Manager James Wise from Holton-Wise teaches Landlords & Real Estate Investors investors 5 things they can easily do to maximize the profitability of their Rental Properties while simultaneously reducing the Property Management hassles at the same time.

 

 

 

James Wise goes over all of the different types of paint that are available. He also explains which type & color of paint will work best in a rental property. 

 

 

 

James Wise explains when you should & should not get an LLC when purchasing Rental Property. On top of that James provides Real Estate Investors with the cost to start an LLC in all 50 states.

 

 

 

James Wise answers a frequently asked question of many Real Estate Investors.

Is it ok to paint the electrical outlets in a house?

 

 

 

James Wise shows Out of State Real Estate Investors how to successfully buy Properties from the local MLS. 

 

 

 

James Wise answers several Real Estate Investor's questions on the Economic Impact that the departure of LeBron James from the Cleveland Cavaliers is going to have on the Cleveland, Ohio Real Estate Market and Economy. James Wise uses real data from when LeBron James left the Cavs to sign with the Miami Heat to predict how Lebron James joining the Los Angeles Lakers will effect Cleveland, Ohio.

 

 

James Wise answers a landlord's questions about which groups Real Estate Investors can and cannot discriminate against. Sometimes in the Real Estate Investment space cash flow investors can and should discriminate against certain groups of people so long as they are not part of a protected class under Fair Housing Laws. "What do you think of single parents with large number of children, morbidly obese people with mobility problem, terminally ill or mental patients, gang members, people with friends moving in "for a few days"..."

 

 

 

James Wise shows Real Estate Investors how to identify emerging Real Estate Markets using outside indicators while discussing if it's possible to eliminate risk when Investing in Real Estate. On top of that James Wise Identifies a possible emerging Real Estate Market in the Greater Cleveland, Ohio area by answering the following question(s). "James, as property values on the borders of a D or C class neighborhood increase where they  meet a B or A class neighborhood, how can you take advantage of the possible future property value increases without exposing yourself to too much risk? Can the property value increases in that area be predicted?"

 

 

 

In this episode of #AskJamesWise James Wise explains to prospective Real Estate Investors the difference between Good Debt and Bad Debt. If you should start investing in Real Estate while you are already in Debt as well as how to get out of Bad Debt and how to increase your Credit Score by answering the following question(s). "Dear James, I don't want to waist your time, so as quickly as possible here goes.......was looking at certain houses on west side, duplexes for 30 to 50k. went and talked to my bank and cant get FHA loan even with 10% down. credit at 525 with 1,300 in verifiable income. have the 10% just tell me any chance or just rent and build credit?" 

 

 

 

James Wise answers the following question(s).

"Should Investors buy Houses or Apartments?"

"Should you Invest in Commercial or Residential Real Estate?"

"What are the differences between Investing in Houses and Investing in Apartments?"

 

 

 

James Wise answers the following question.

"Windows eventually need replacing. Siding wears out. Counters need replacing. Over, say, a 15yr period of holding one of these C class properties, how much do you counsel clients to allocate towards Cap Ex reserves?"

 

 

 

James Wise answers the following question.

#askjameswise Thank you so much for your videos. Those are really helpful. I am planning to start rental business in Cleveland area. I am new. I have no idea. Which area is good for rental business? You said Euclid is very hot place because of Amazon fulfillment center. There will be another amazon fulfillment center at North Randall. Why you don't mention about North Randall? I kinda think Cleveland Heights or University Heights or Solon area. Which property is better? B class neighbor single house? Or B or C class neighbor duplex? 2bed room or 3+bedrooms? Please help me. Thank you."

 

 

 

James Wise answers the following question. 

#askjameswise Hi James!, I live in Houston TX and have built and sold 6 townhomes from ground up.  I have never been a landlord and would like to get into any type of cash flowing properties.  What would you recommend  I get into?  Would investing in Ohio properties be an option for me since I live far away?  My goal is to have at minimum 10k cash flow to me net per month.  What type of properties would you recommend? Thank you!"

 

 

 

James Wise answers the following question. 

"Hey james i have a question for you if a foreigner buys a income producing property in Cleveland how will the rent be paid to the foreign buyer living outside the United States #askjameswise"

 

 

 

James Wise answers the following question. 

"#askjameswise do a video on settlement of the property and the different deeds you can get and what is the best and worst"

 

 

 

James Wise answers the following question. 

"Nice video James! Thanks for providing your input in my question In biggerpockets.com. My question is about Indy Turnkey properties, is it feasible to make $500 a month on a turn key rental and still have some appreciation. The property should be in an A or B area, given this factors how much are the property that are we looking at here ie $90-100K? Also do you have any referral turnkey providers? I hold a full time gig so I can’t make this my full time job but I am doing my homework due diligence as I don’t want to get screwed by malicious folks. Your input is much appreciated"

 

 

 

James Wise answers the following question. 

"Yo James. I have a question for you. I own two properties. I'm not making squat on them. I want to get MULTI-family units.  15, 20, 30 units.  That kind of capital is incredible. SO how do I find people to partner on those properties, in order to get started and grow credibility and a portfolio?"

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James Wise answers the following question. 

"#AskJamesWise In September my husband and I bought a home. Today I received a bill for my taxes in the mail. I thought I was paying my taxes wrapped in with my mortgage and insurance. Is there something I’m missing here? Also... aren’t taxes paid after the fact? So, being I moved in September, would I be responsible for the entire portion of that tax statement, or would the previous  homeowners be responsible for a portion? Thanks in advance!!!"

 

 

 

James Wise answers the following question. 

"I have a good credit score a good credit rating however I am working with a good amount going in however I do not qualify for an FHA loan because I don't have my two years tax returns I do get money every month off a disability and I wanted to purchase a fourplex I'm wanting to incorporate that income to be able to qualify to purchase the 4 plex. can you tell me or do you know of any programs out there that I could potentially submit in  order to get a qualify to purchase a fourplex??"

 

 

 

James Wise answers the following question.

"I have had a Cleveland property since 2007.  I bought it to flip and then the market tanked back then.  I have since rented it out a few times to people I knew that said they would do fix-it work for rent (bad idea).  They basically pulled the house apart and never finished any one project and then it took a year to get them out. (while they were living rent free).   I myself am a contractor in Lakewood with a very busy business.  I can never manage to get over there and do any work other than yard upkeep..  You see, when I have the money I don't have the time, and when I have the time I don't have the money.  All taxes are up to date. I am finally going to tackle the whole house starting at the end of March to get it ready for market.  I have limited funds , so it is important that I put my money into where I will get the most payback.  My wife and I would like to be able to list this in June or July.  

I guess my question is, " What advise can you give me?"

 

 

 

James Wise answers the following question. 

"#AskJamesWise Can a tenant be denied after they were already approved?"

 

 

 

James Wise answers a question.

"#AskJamesWise Is renting to college kids profitable or should I stay away from it because they may damage the property when they party???"

 

 

 

James Wise answers a question.

"I have $300,000 cash savings, live with my parents, and currently unemployed with no credit score. Approximately how much annual income could be generated from that 300K if I invest through Holton-Wise and utilize your property management? #AskJamesWise"

 

 

 

You have questions & professional Real Estate Broker, Landlord & Investor James Wise from Holton-Wise has the answers.

Simply post your questions below using the hashtag #AskJamesWise & James Wise will make a video answering them.

 

Topics of interest are as follows

1. Real Estate Sales
2. Real Estate Investing
3. Rental Properties
4. Online Marketing
5. Insurance
6. Personal Finance
7. Social Media
8. Commercial Real Estate Investing
9. Commercial Real Estate Sales
10. Vertical Integration
11. Investing using Other People's Money (OPM)
12. Building a Business from Scratch
13. Politics
14. Interest
15. Debt Management

 

 

 

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