Rome wasn't built in a day, and neither are most real estate empires. While investing in real estate is a great way to get rich, real estate investing is definitely not a get rich quick scheme. If you are working with someone who is telling you that buying real estate can make you an overnight millionaire, you're probably a hop, skip and jump away from being involved in one of those get rich quick schemes. In real life, it can take many years get rich through real estate investing. One investor who became a millionaire through real estate investing is James Wise. In the 88th episode of The Ask James Wise Show, millionaire real estate investor James Wise is taking viewers on a tour of his very first real estate investment. This modest single family house was what started what would eventually become the multi million dollar investment company HoltonWise. Using a real estate investing strategy called house hacking, James Wise was able to go from broke at 21 to having done over $200 million dollars worth of real estate transactions at 35 which includes managing a $75 million dollar rental property portfolio in his hometown. If you are interested in learning learning how to get rich through real estate, subscribe to HoltonWiseTV today. HoltonWiseTV is real estate investing made easy.
Contractor rip offs are all too common. In fact, some housing experts believe that homeowners being ripped off by their general contractors is an epidemic. For many homeowners there is nothing more difficult than hiring the right general contractor. Whether you are an owner occupied homeowner, or a real estate investor, making sure you don't get ripped off by your contractor is harder than you may think. There are many red flags that bad contractors have that homeowners just don't seem to notice. In the 87th episode of The Ask James Wise Show, millionaire real estate investor James Wise is showing homeowners how to avoid getting ripped off by a bad contractor by spotting the many red flags that most bad contractors display. In order to fully understand how to sniff out a bad contractor, it's important that you understand exactly what it is that a general contractor does, so James Wise also breaks down the differences between general contractors, subcontractors and day laborers. In addition, James Wise give practical advice on the home renovation contractor's bidding process along with general contracting tips that you can't get anywhere else. Subscribe to HoltonWiseTV for more raw, real and uncensored housing advice.
NYC's woke housing laws are at it again, making things worse for the people whom they are trying to protect. The woke housing law we're talking about in the 86th episode of The Ask James Wise Show is called RPL 235-f. New York Law RPLY 235-f is commonly known as the New York Roommate Law. The New York Roommate Law allows a tenant of any private residential apartment to share their apartment with their immediate family members, one additional occupant and any dependent children of that occupant so long as the apartment is the tenant's primary residence, so long as there is only one tenant on the lease. Unfortunately for single mothers out there, James Wise believes that the liberal politicians got it wrong with this New York landlord tenant law. James Wise believes that like a lot of liberal housing politics, this liberal roommate law is going to discriminate against the very people they were trying to help, New York tenants. The New York renters whom James Wise thinks will get the most amount of discrimination because of this law, is going to be single mothers. James Wise believes that by tying the hands of New York landlords, the liberal housing policies like this one cause landlords to push back. In this case, the landlord push back is likely to result in single moms being denied housing because the landlords are fearful of their single mother tenant moving in a boyfriend or baby daddy whom the landlord was not able to screen. Forcing landlords to accept tenants whom they were not able to perform tenants screening on is not logical. Forcing landlords to accept tenants whom they will be unable to evict is not a smart housing policy. The New York Roommate law is liberal nonsense that will likely make finding affordable housing in New York a lot harder for single mothers.
Mortgage rates have been skyrocketing in 2022. The mortgage interest rates have gone up so much in 2022 that the interest rates are seeing on 30 year mortgages are the highest they have been in the last 15 years. The reason for the rising mortgage rates is because the Chair of the Federal Reserve of the United States, Jerome Powell is committed to fighting inflation. Some have claimed that the Fed's aggressive interest rates are leading the USA into it's next major housing crash. The thing is, a housing crash and high interest rates aren't necessarily bad news for housing investors. In fact, many investors like James Wise have made millions of dollars during housing crashes. In the 85th episode of The Ask James Wise Show, James Wise is going over real estate investing strategies that should allow real estate investors to make money with the 30 year mortgage interest rates being so high. These investment strategies include using a 15 year mortgage, an adjustable rate mortgage and cash to fund real estate investments during the declining housing market. Utilizing these 3 real estate investment strategies should allow you to neutralize the negative effects of sky high mortgage rates.
For many home buyers, the Fannie Mae housing forecast that was released in August of 2022 was great news. At that time, Fannie Mae was forecasting mortgage rates dropping as low as 4.5%. This housing market forecast was great news for a lot of people who were fearful of a housing crash as well as those who were going to be entering the housing market for the first time. However, in September of 2022, Fannie Mae released another housing market forecast showing very different mortgage rate predictions. Whether or not the most recent change in mortgage rate predictions is a good or bad thing depends on who you ask as well as what you are trying to do in the real estate market. The reality is that home buyers, home sellers and housing investors and all have very outlooks on the housing market. In the 84th episode of The Ask James Wise Show, millionaire real estate investor James Wise breaks down what the most recent mortgage rate forecast means for first time home buyers and those who are selling their homes. Additionally James Wise goes over what the Fannie Mae housing forecast change means for housing investors who are interested in learning how to make money in the real estate market during a real estate crash.
For the 5th straight time, the Fed has increased interest rates. This massive interest rate increase to the federal funds rate is the latest inflation fighting move from the Chair of the Federal Reserve of the United States, Jerome Powell. The reason Jerome Powell and the Fed are increasing rates at such a rapid pace is because inflation has gotten out of control. Inflation has created one of the most unaffordable economies in recent history. On top of that, these constant Fed rate hikes are causing massive changes in the housing market. With mortgage rates more than doubling over the last year, many people believe we are destined for a recession or a full blown housing market crash. With an impending housing market crash on the horizon due to this recent housing affordability crisis some real estate investors believe that we are about to see a huge money making opportunity in the housing market. In the 83rd episode of The Ask James Wise Show, James Wise, a real estate entrepreneur who made millions of dollars after the housing crash of 2008, explains why the combination of Fed interest rate increases and runaway inflation are creating the perfect housing market for investors to capitalize on. If you are interested in learning how to get rich in real estate, tune in to HoltonWiseTV today. HoltonWiseTV is real estate investing made easy.
Many people look to real estate investing as a way to create financial freedom for their family. HoltonWise CEO James Wise is no different. Outside of being a millionaire real estate investor, HoltonWise CEO James Wise is a parent of young children who are struggling with potty training. On top of their dislike for pooping on the potty, James Wise's children have an incredible love for their favorite YouTube star Blippi. For those not in the know about Blippi, Blippi is a kid's YouTube channel that focuses on providing educational videos for kids. Unfortunately, for James Wise, and other parents who enjoy having control of the TV remote, toddlers, unlike your boss when you become wealthy through real estate investing, cannot be fired. As such, it's Blippi 24/7 at the Wise household. Always looking to improve efficiency, James Wise takes the opportunity to utilize his children's love of Blippi's YouTube channel to help with potty training. However, it turns out that a Blippi potty training video for kids isn't in Blippi's library of video content. In the 82nd episode of The Ask James Wise Show, James Wise is calling for Blippi to help a brother out when it comes to potty training toddlers. Plus, this episode packs in a smidge of real estate investing stuff for the regular HoltonWiseTV audience.
Patricio is an ecommerce entrepreneur and out of state house flipper who's built a 6 figure house flipping business in the Charlotte North Carolina market. Patricio is considering shutting down his house flipping business so I can invest all of his money in cash flowing rentals in the Cleveland market. In the 81st episode of The Ask James Wise Show, Cleveland real estate investor James Wise is sitting down with Patricio to talk shop about the Cleveland real estate market and Patricio's overall real estate investing strategy. James Wise goes over why he thinks Patricio needs to continue flipping homes in Charlotte, North Caroline while also diversifying info long term rentals in other markets like the Cleveland, Ohio market. Additionally, James Wise and Patricio discuss the different types of real estate investment strategies in the Cleveland market, such as long term buy and hold investing vs short term rentals and how Cleveland's new lead certification laws effect investors rental property businesses in the Cleveland housing market. If you are a real estate investor looking to talk shop about the real estate business reach out to HoltonWise today. HoltonWise is real estate investing made easy.
California has an affordability crisis. While the inflation crisis is effecting people all over the world, inflation seems to be much worse in California. California housing affordability is at an all time low, some are even saying California is dealing with a housing crisis. California gas prices are over $6 per gallon. Homelessness in California is becoming a bigger problem by the day. All of these issues with California are contributing factors to the California exodus. With so many people leaving California for more affordable real estate markets, Californians want the government to do something to help those living in California deal with all of these inflation affordability issues. In comes Gavin Newsom and the California Inflation Relief Package. In the 80th episode of The Ask James Wise Show, James Wise is discussing the California Inflation Relief checks and how the CA Inflation Relief Package won't do anything to help California homeowners solve the inflation problem in 2022.
Back in 2017, after leaving LeBron James and the Cleveland Cavaliers high and dry, Kyrie Irving tried to sell his house in Westlake, Ohio for more than double what it was worth. For a guy with a net worth in the 100's of millions of dollars, trying to make a buck off of a Cleveland homeowner by selling them an overpriced house in the Cleveland real estate market seems pretty ridiculous. In the 79th episode of The Ask James Wise Show, Cleveland housing expert James Wise breaks down the numbers on 2431 Cornerstone Ln, Westlake, OH 44145. The house that Kyrie Irving bought from Daniel "Boobie" Gibson for $800,000 and tried to flip for $1.7 Million only to end up selling it the following year for $945,000 less than his original asking price. Tune in to HoltonWiseTV for more housing market related news in the Cleveland area and beyond. HoltonWise is real estate investing made easy.
Many believe that America's student loan crisis is going to reach a breaking point on August 31st 2022. August 31st 2022 is when the student loan moratorium ends. In layman's terms, this means that student loan debt that is currently not being paid is going to need to be paid again on August 31st 2022. Student loans effect millions of people, and the rumors of student loan forgiveness seem to be false. Not only does the student loan crisis effect the millions of Americans who have student loan debt to repay, but the student loan crisis also effects the housing industry. In the 78th episode of The Ask James Wise Show, millionaire real estate investor James Wise is providing a housing market update to homeowners, home buyers and home sellers who may be wondering what's going to happen to the real estate market now that it's clear the the Biden student loan forgiveness isn't going to happen. Is the repayment of all of this student loan debt going to crash the real estate market? Is investing in housing still a good investment if the housing market is negatively effected by the student loan crisis? What does James Wise think housing investors should do now that the US housing market is shifting? Tune in to HoltonWiseTV for the answers to these housing questions and much more. HoltonWiseTV is here to explain investing in the housing market so everyday individuals can grow their net worth through smart housing investments.
From tenants not paying rent to nasty eviction it's clear that property management is a tough job, but somebody has to do it. Whether you are the property manager or you've hired someone else to manage your rental property it's got to be done correctly or you won't make any money. Not everyone in the property management business is a very good property manager though. In fact, many people are poorly managing their rental properties. In the 77th episode of The Ask James Wise Show, millionaire property manager James Wise is going over 3 things bad property managers do that cause rental property portfolios to lose money. Whether you've hired a bad property management company, or you yourself are a inexperienced property manager you'll want to make sure these 3 things are not happening to your real estate portfolio. Tune in to HoltonWiseTV more more landlording and property management tips like this. HoltonWiseTV is the number one resource for new and experienced landlords looking to grow their net worth through real estate investing. HoltonWiseTV is real estate investing for beginners.
1. Projecting 1:24
2. Making Emotional Decisions 8:27
3. Being Inefficient 12:49
Forget about the Section 8 Bible. If you'd like to become a Section 8 millionaire you're in the right place. In the 76th episode of The Ask James Wise Show, millionaire Section 8 landlord James Wise is providing some free Section 8 consulting to newbie Section 8 investors, as well as seasoned Section 8 landlords who are looking to increase their Section 8 profits. James Wise is going over 10 ways that Section 8 property owners can increase their profits on their Section 8 rental portfolio. Whether you are looking to get started in Section 8 real estate investing, or you are an existing Section 8 homeowner, be sure to tune in to HoltonWiseTV for more Section 8 housing investment advice. HoltonWiseTV is Section 8 101.
1. Non-Locking Door Handles 3:00
2. Low Flow Toilets 6:24
3. Hards Floors 8:41
4. Bars on Windows 10:31
5. Use the Same Stuff 14:59
6. Hangy Stuff 17:24
7. Tenant Screening 19:26
8. Evict Mother Fuckers 22:31
9. Meet your Housing Authority 29:02
10. Vote Red 31:37
Is there anything worse than being a California homeowner? From the seemingly never ending California eviction moratorium, to California's lopsided landlord tenant laws, things in the California real estate market are all screwed up. It's no surprise that so many California homeowners are leaving California for real estate markets that make more sense. In the 75th episode of The Ask James Wise Show, real estate investing expert James Wise is discussing some breaking news in the California housing market. In a decision that should be shocking to anyone who believes in the private property rights afforded in the constitution of the United States, a federal appeals court has upheld a state law requiring property owners who legally evict tenants to pay one month of the tenant's rent in order to reduce the cost of relocation. That's right folks, if you own a property in California and you are one of the lucky Californians who are actually allowed to evict your tenant's when they don't pay their rent you now have to pay their rent to their new landlord. What in the world is going on with California's eviction laws? How has California's housing policy gotten so anti American? What does this new radical housing policy mean for those looking to buy a house in California? What does this seemingly unconstitutional decision mean for homeowners in California? What does this eviction court decision mean for California landlords? Does owning a rental property in the state of California make sense in 2022? Will the California housing market crash due to these kinds of anti eviction laws? Are evictions in California becoming a thing of the past? How does the California eviction process work? When does the anti California legislation end? When does the anti landlord rhetoric stop? What can a California property owner do when California is constantly attacking their rights? Tune in to HoltonWiseTV for answers to these real estate questions and much more. HoltonWiseTV is California real estate investing made easy.
The BiggerPockets forums are great for those looking to learn how to get started in real estate investing. BiggerPockets is probably the largest online real estate community in the world. BiggerPockets is also a great place for real estate companies to market their products and services to potential customers. The forums on BiggerPockets are a great place for real estate experts to share their knowledge with the general public. In fact, nobody outside of Jay Hinrichs has been more active on the BiggerPockets forums than James Wise. However, real estate investing expert and former BiggerPockets moderator James Wise disagrees with the following BiggerPockets policy; Political threads not permitted on BiggerPockets. Any post or thread regarding politics will be removed. BiggerPockets reserves the right to edit any post or thread that may contain political commentary. BiggerPockets is a real estate forum, not a forum for religious or political debates, discussions, or proselytizing. In the 74th episode of The Ask James Wise Show, James Wise is discussing his stance on the commingling of politics and real estate. Many people believe that political agendas and real estate investing have nothing to do with one another. According to James Wise, thinking that real estate isn't effected by the political leanings of the politicians in your real estate market is flat out wrong. Everything from evictions and rent control, to being able to sell your property to whomever you want is controlled by the political agendas of local politicians in your housing market. The views of far left housing advocates vs the views of conservative housing providers, is like night and day. These opposing political views on housing is what shapes political policy in a real estate market. Ignoring the fact that real estate investment is a politically charged topic is naïve at best, and financially irresponsible at worst. Left leaning housing markets and right leaning housing markets are not the same. Tune in to HoltonWiseTV to learn more about how politics can play a role in how you make money investing in real estate.
If you are learning how to buy your first rental property you are in the right place. Here on HoltonWiseTV we help those looking to get into rental property investing understand what it's really like to manage a rental property investment. On HoltonWiseTV we show you how to analyze a rental property and prepare for both the good and the bad things that can happen when you choose to become a landlord. One of those inevitable things that all landlords will have to deal with at one time or another is evicting tenants. The risks of getting bad tenants who need to be evicted can be managed but the risks of tenants from hell can never be eliminated. In short, evicting tenants is part of the property management business. Sooner or later everyone who buys a rental property has to go through the eviction day drama. Because HoltonWiseTV features so many nightmare tenants and live evictions caught on camera, HoltonWise is often asked, why does HoltonWise evict so many tenants? Is HoltonWise evicting so many renters because HoltonWise is a bad landlord? Does HoltonWise evict so many people because HoltonWise is a slumlord? Does HoltonWise do tenant screening when they are renting out their properties? Is HoltonWise just renting out their Cleveland houses to anyone without doing a proper background check? In the 73rd episode of The Ask James Wise Show HoltonWise CEO James Wise explains why there is so much eviction content on HoltonWiseTV. James Wise explains why it's possible for HoltonWise to have some of the most strict tenant screening criteria in the Cleveland housing market, while at the same time be able to publish more content about renters being evicted than most anyone else in the real estate industry. James Wise also goes on to explain the difference between inherited tenants and HoltonWise screened tenants as well as some best practices landlords can do to help lower their eviction numbers in their own rental property portfolios. If you are looking to learn how to become a property manager this episode of The Ask James Wise Show is a can't miss. Tune in to HoltonWiseTV for more tips on managing rental properties. HoltonWiseTV is property management training made easy.
Hating landlords is so cringe. Here on HoltonWiseTV we do our very best to show viewers the true nature of investing in the housing market. Unfortunately evicting people is a big part of real estate investing. As such, showing live evictions caught on tape is something that HoltonWiseTV does frequently. From squatters being thrown out of landlord's houses live to eviction day violence to the eviction aftermath of a trashed rental property, HoltonWiseTV is committed to filming all of it. Naturally polarizing content such as evictions caught on camera is going to get some people upset. Because of HoltonWise's commitment to producing polarizing real estate content HoltonWise gets it's fair share of hate from those who do not agree with how HoltonWise conducts their real estate business. HoltonWise is often vilified by those who hate landlords. HoltonWise is often called a slumlord by those who think landlords are evil. Some people go as far as to say landlords should be abolished or killed. Admittedly, some of this anti landlord sentiment is heightened by some of the controversial viewpoints expressed by HoltonWise CEO James Wise. In the 72nd episode of The Ask James Wise Show, unapologetic landlord advocate James Wise takes on the anti landlord trolls. If you think you've seen some heated debate on the landlords of reddit, you haven't seen anything yet. HoltonWiseTV is exposing the anti landlord cringe that is so popular on the internet today. If you are rental property owner who is sick and tired of being called scum after nightmare tenants steal your hard earned money, you'll want to tune in to HoltonWiseTV for more property management advice, tips and best practices. HoltonWiseTV is rental property investing made easy.
The housing market in the US is at an all time high. Many home buyers believe that current housing market prices are unsustainable. Some housing experts believe that a housing market price correction is coming. Others believe that the American housing market is experiencing a full blown housing crisis. Is the housing market in a bubble? It sure feels like an affordable housing crisis when you have to pay $575,000 for a meth house. That's right folks, a meth contaminated house near the Wasatch Mountains in the Salt Lake City, Utah area is going to run those looking to buy a house a cool $575,000. Imagine the home buyer's remorse you'd have knowing it's going to be half a million dollars to get yourself a rundown house that used to be a meth lab. At first glance, paying more than $500,000 for a former meth lab seems like a terrible real estate investment. Thing is, if you look at the numbers involved in meth lab cleanup and home renovation buying a meth lab for the right price might not be a bad real estate deal after all. In the 71st episode of The Ask James Wise Show real estate investing expert James Wise goes over the numbers on a $570k meth house purchase in the Sal Lake City housing market. In addition to providing insight into how much money is likely to be made by the house flipper who bought the meth contaminated house, James Wise brings in special guest Brandon Schlichter from Investment Joy to provide insight into the meth lab cleanup process as Brandon from the Investment Joy YouTube channel has personally had to do a meth lab remediation at one of his own rental properties in the past. Given the profit that can be made by buying meth houses, is the affordable housing crisis really as bad as many economists are saying? After taking an unbiased look at the numbers of this $575,000 meth contaminated home it seems like the real estate market today isn't all that bad. It seems like investing in housing is still a money maker in 2022. Tune in to HoltonWiseTV for more housing news updates. HoltonWiseTV is housing market news made easy.
Is the housing market going to crash? Rising interest rates are making many first time home buyers and real estate investors wonder if a housing market crash is around the corner. Fears of the real estate bubble finally popping have been increased with the Fed's recent 0.5% rate hike. This rate hike by the federal reserve is the highest Fed rate increase in the last 22 years. With the Fed interest rate going up, is it still a good time to buy your first house? Housing prices have been reaching record highs due to a 40 year inflation high along with record low mortgage rates. With higher mortgage rates today, is it still a good time to buy your first rental property? What is the US housing market forecast? Is the housing market due for a housing crash? Are these Fed rate hikes going to cause a housing crisis? Should home buyers wait for interest rates to go down, or should those investing in the housing market keep buying as many properties as they can afford to get a mortgage on with whatever that mortgage's interest rate is? If you are interested in learning how to make money in real estate you'll want to watch the 70th episode of The Ask James Wise Show as real estate millionaire James Wise is discussing these housing topics as well as providing real estate news to 1st time home buyers and those looking to learn how to be a real estate investor. HoltonWiseTV is housing made easy.
The short-term rental business is a new and exiting business. Lots of money can be made for hosts with a well managed short term rental investment. Thing is, with new real estate businesses there are a lot of unknowns. Cities across the USA are actively changing short term rental zoning laws, which oftentimes, results in Airbnb bans that completely shut down an Airbnb hosts entire short term rental business. In the 69th episode of The Ask James Wise Show, short term rental property management company owner James Wise is discussing the problems that arise from the fluctuating Airbnb zoning laws that can often lead to short term rentals shutting down in popular Airbnb housing markets. If you are a short term rental property owner dealing with an Airbnb ban in your city you will want to pay attention. James Wise goes over the things new Airbnb hosts can do when Airbnb and other short-term rental property businesses are banned in their real estate market. James Wise goes over how to start an Airbnb business while limiting your risk of facing a short-term rental ban. James Wise goes over how you can adjust your business strategy to deal with ever changing short-term rental property laws. James Wise goes over the types of housing markets that are least effected by Airbnb housing bans. If you want to learn how to start a short-term rental business and avoid government shutdowns, tune in to HoltonWiseTV today. HoltonWiseTV is Airbnb hosting for beginners made easy.
Learning how to rent out a house can be scary. Finding good tenants for your rental property is key, but how do you find good tenants while avoiding bad tenants? The tenant screening process is how landlords get rid of bad tenants so they can focus on renting their house to good tenants. Tenant screening for landlords involves many tenant screening questions that help the landlord or property manager identify who those nightmare tenants are while they are trying to rent their house to good tenants. There are a lot of real estate courses out there teaching landlords how to screen tenants for rental property, but more often then not those tenant screening services and real estate investing courses are to politically correct to do a good job of identifying tenant red flags that a seasoned landlord knows how to find. A professional property manager with years of experience is going to have a very sophisticated tenant screening process that helps avoid evicting tenants down the road. In the 68th episode of The Ask James Wise Show, millionaire landlord James Wise show newbie real estate investors like you how to rent your house to good tenants while sniffing out red flags in tenants that aren't in any real estate textbook. Today, James Wise is focusing his tenant screening attention on the tattoos his tenants have while they are applying for a rental property. What tattoos a potential tenant has can tell a landlord a lot about what it's going to be like renting to that particular tenant. Some tenant's tattoos are going to send off red flags that a landlord should pay attention to during the rental application process so that they can avoid problem tenants. On the other hand, some tattoos that renters have can be a tenant screening indicator that the tenant may turn out to be a great renter. Tune in to HoltonWiseTV for more landlord tips and tricks to become a more profitable rental property owner. HoltonWiseTV is real estate investing for beginners.
Real estate newbies and 1st time home buyers, listen up, this one is for you. In the 67th episode of The Ask James Wise Show, investor friendly agent James Wise is going over a the step by step process of buying your first house. Whether this is your first rental property, or your first home to live in yourself, the baby steps you need to take to close on that first property will be laid out in their simplest form. This is real estate investing for absolute beginners from start to finish. If you've never bought a home before and want to learn how to navigate the real estate market as a first time home buyer, tune in to HoltonWiseTV today. HoltonWiseTV is getting started in real estate investing made easy.
1. How to get pre-approved for a mortgage on a rental property 3:10
2. How to choose a real estate market to invest in 5:30
3. How to hire an investor friendly Realtor or find motivated sellers 6:47
4. How to pick a rental property to buy 9:20
5. How to go under contract on a property 10:25
6. How to get a home inspection on a property 11:56
7. How to order an appraisal on a house 12:31
8. How to hire a property manager 15:08
9. How to get clear title on a house 16:45
10. How to collect rent 18:07
11. How to be a millionaire real estate investor (buy a boat) 18:44
The home loan requirements for W2 employees and 1099 contractors are very different. If you are wondering what you need to do to qualify for self employed mortgage loans vs what you need to do to qualify for real estate financing if you are a regular W2'd employee you'll want to pay attention to the 66th episode of The Ask James Wise Show. During the show real estate financing expert James Wise breaks down how to get a mortgage if you're self employed and how to get a mortgage if you are a traditional W2'd employee. Qualifying for a mortgage when you are self employed is much different than qualifying for a mortgage when you have a regular job. If you are thinking about quitting your regular job to invest in real estate full time you'll want to understand the rental property loan requirements of the self employed vs the investment property financing requirements of those with a full time job before you make the plunge to full time real estate investor.
Many believe that Canada is dealing with a housing bubble in 2022. With Canadian housing affordability at an all time low in 2022, some say this Canadian housing bubble is actually a Canadian housing crisis. Canadian Prime Minister Justin Trudeau's housing plan to solve Canada's affordable housing shortage is very controversial. Justin Trudeau's new housing policy is to ban foreigners from buying Canadian real estate. That's right, if you are not a native Canadian citizen, you are not allowed to buy a home in Canada. If Canada's ban on foreign home buyers sounds racist to you, you are not alone. In the 65th episode of The Ask James Wise Show, US real estate investor James Wise is sounding off on Canada's new racist housing policy. In addition to Canada's foreign housing ban being racist, Canada's ban on foreign real estate investment restricts the rights of Canadian citizens to sell their property to whomever they want. What's worse, is that this overreach of the Canadian government's restriction of private property ownership rights is inspiring housing policy change in the USA. Recently Texas housing officials in the Dallas area cited this Canadian housing ban as inspiration for potential housing restrictions in Texas. What does the Canadian real estate bubble mean for US real estate investors? What does the ban on foreign home buyers in Canada mean for Canadians who wish to sell their homes? Is the US housing market going to become more like the Canadian housing market? Which US housing markets are following Canada's lead to limit property rights for their citizens? Is Canada's housing crisis going to ruin the US real estate market? Tune in to HoltonWiseTV for answers to these real estate questions and more. HotlonWiseTV is real estate investing made easy.
Don't California my Texas! Real estate investors may be in for some changes in the Dallas-Fort Worth housing market. With housing prices soaring in the Dallas housing market in 2022, the housing policy makers in the Dallas-Fort Worth metropolitan area appear to be following the lead of woke politicians from places like California and Canada. Once a beacon of conservative principles, the state of Texas is considering proposing legislation restricting real estate investors from being able to buy properties in Texas. In the 64th episode of The Ask James Wise Show, housing freedom advocate James Wise is breaking down what is going on with the housing market in the Dallas-Forth Worth area and the recent consideration of legislation aimed at banning real estate investors from investing in real estate in Texas and the Dall-Fort Worth area. If this sounds like something out of the ordinary to you, it's because it is. Texas following the lead of anti conservative housing policy, like we see in the Canadian real estate market as well as the with California housing is completely unprecedented. The housing market forecast for Texas stands to be changed forever if a ban on Texas real estate investment gains momentum with Texas voters.
While looking at houses on Zillow, the MLS or Realtor.com you may have noticed that some houses are listed as contingent. Additionally you may have noticed that some other houses are listed as pending. What does contingent mean in real estate? What does pending mean in real estate? What is the difference between contingent and pending in real estate? In the 63rd episode of The Ask James Wise Show, real estate broker James Wise is answering questions about contingent status and pending status differences as well as contingent and pending status similarities. Ya see, the answer to these real estate questions may have a different answers in real estate theory than they do in actual real estate practice. Contingent status vs pending status, let's talk about what these real estate terms really mean from a practical and actual standpoint.
Real estate has it's own language. From Realtors to landlords to commercial real estate investors, all of these real estate professionals have certain code words that they utilize while working in the real estate industry. Some of these real estate terms are fairly simple to understand while other real estate terms have hidden meanings. In the 62nd episode of The Ask James Wise Show, real estate broker and investor James Wise is peeling back the curtain on real estate industry terminology. James Wise is going over 25 real estate terms and what they actually mean. Forget about taking what real estate professionals are saying to you at face value and learn how to read between the lines in the real estate business.
1. Cozy 2:08
2. Per My Last Email 2:22
3. Fixer Upper 2:56
4. Time is of the Essence 3:16
5. Net Operating Income 3:46
6. Cap Rate 6:22
7. Cash on Cash Return 7:06
8. Good Bones 8:46
9. Triple Net Lease 9:30
10. As-Is 10:18
11. Proof of Funds 10:44
12. Pre Approval 11:51
13. Title Search 12:11
14. Short Sale 13:07
15. Buyer's Agent 13:51
16. Selling Agent 14:07
17. Closing 14:28
18. Closing Costs 14:42
19. Days on Market 15:18
20. Cash Flow 15:33
21. BRRRR 16:19
22. Contingent 17:03
23. HOA 17:24
24. Wholesaling 18:03
25. Rent Back 18:59
BONUS. Listing Agent 19:08
Working with motivated seller leads is very important when you are investing in real estate. From wholesaling houses, to fixing and flipping houses, to buying rental properties for long term cash flow, real estate investors often make the most money when they buy their real estate. To buy real estate at the best price you often need to buy that real estate off market from a motivated seller. Who are the best kinds of motivated sellers? Are all motivated seller leads the same? Are some kinds of motivated sellers better to work with than other motivated sellers? In the 61st episode of The Ask James Wise Show, off market property investor James Wise is going over the 5 best kinds of motivated seller leads for investors. These 5 kinds of motivated sellers have proven to be the most profitable motivated seller leads in James Wise's experience selling over $200 Million worth of real estate. These motivated sellers work great for wholesalers. If you are looking to learn how to generate motivated seller leads for wholesalers, you're in the right place. These motivated seller leads work great for fix and flip investors. If you are looking to learn how to generate motivated seller leads for house flippers, you are in the right place. These motivated seller leads work great for buy and hold investors. If you are a long term buy and hold investor looking to learn how to generate motivated seller leads for landlords, you are in the right place. From sellers facing divorce, to sellers facing foreclosure, to tired landlords James Wise is going over the very best distressed seller leads for real estate investors. Best of all, James Wise goes over how you can utilize Propstream to direct mail these motivated sellers in the most cost efficient way. If you are just getting started in real estate investing it's time to stop wasting your time driving for dollars and start learning how to generate the most profitable leads for your real estate business by tuning in to HoltonWiseTV today. HoltonWiseTV is marketing to motivated sellers made easy.
It's no secret that off market properties are considered the best real estate deals for real estate investors. Whether you are wholesaling houses, flipping houses or buying long term buy and hold properties, learning how to find off market deals is going to be key to your success as someone who makes their living buying houses. Whether you want to learn how to find off market properties to wholesale, or learn how to find off market multifamily properties to hold as a long term investment, or learn how to get off market properties to fix and flip, you'll want to pay attention to the 60th episode of The Ask James Wise Show. During the show, James Wise is talking about buying off-market properties. From driving for dollars, to cold calling off market properties, there are hundreds of ways wholesalers and investors can find off market real estate deals. The key to being successful in off market investing is learning how to market to motivated sellers so you can buy their homes before they hit the MLS. The thing is, not all of these strategies for finding off market houses are the most efficient way to get the message across that you want to buy off market houses. James Wise goes over the 5 best ways to find off market properties. These 5 off market buying strategies will get you in front of more distressed sellers than the 100's of other wholesaling marketing ideas combined. These 5 off market buying strategies have helped James Wise do over $200 Million dollars in real estate sales and he believes he can help you learn how to find off market apartment buildings, learn how to find off-market multifamily properties, learn how to find off-market properties to wholesale, learn how to buy off market houses for house flip deals, learn how to buy off market wholesale properties for rental investments and much more. HoltonWiseTV is marketing to motivated sellers for off-market properties made easy.
Thousands of Seattle landlords believe Seattle's affordable housing advocates have gone too far with the ultra liberal landlord tenant policies. As such many landlords are exiting the Seattle rental market. Last year the city of Seattle lost 10,000 rental units due to Seattle landlords being fed up with increasingly liberal housing policies that allow Seattle tenants to take advantage of landlords. In the 59th episode of The Ask James Wise Show landlord advocate James Wise is sounding off of Seattle's affordable housing crisis. James Wise believes the liberal housing advocates have no-one to blame but themselves for the terrible position they put Seattle renters in with their unreasonable landlord tenant policies. Is the lack of affordable housing in Seattle is going to cause the Seattle housing market to crash? Is the Seattle real estate market doomed with fewer and fewer rental properties being made available to Seattle's low income residents? Is the lack of landlords willing to do business with the city of Seattle going to cause a homeless problem in Seattle? Are ultra liberal landlord tenant policies like never ending eviction moratoriums and rental control going to destroy the free market in locations like Seattle? Tune in to this episode of The Ask James Wise Show on HoltonWiseTV for these answers and more.
Is the woke California housing crisis part of the next Cold War in America? The California housing market is as woke as it gets. California's war on capitalism and private property ownership has just escalated even further with California's latest woke housing policy proposal. California is a state that has already made evicting tenants illegal for the last three years, California has doubled it's already highest level of taxation in the USA. California has penalized landlords for leaving their homes vacant due to their inability to evict tenants that don't pay their rent. Now California's latest housing proposal aims to shut down the house flipping industry as we know it. California's latest law aims to penalize those who sell their home within 7 years of purchasing it. In the 58th episode of The Ask James Wise Show, James Wise sounds off on whether or not you should buy real estate in California. If flipping houses in California makes sense for investors. What the California house flipping laws mean for American investors. What the California house flipping tax is trying to accomplish. If the California housing market is in crisis mode or not. If you are wondering if California is a good place to invest in real estate you don't want to miss this one of a kind show about California housing laws and the California housing crisis. HotlonWiseTV is here for those of you considering leaving California due to the never ending attack on California home owners.
To say that Cleveland's new lead paint law is off to a slow start would be an understatement. As with most things that the Cleveland government does, the Cleveland lead safe roll out has been filled with bureaucracy and confusion. Currently it's estimated that only a small number of Cleveland rental properties have received their lead based paint certificate under Cleveland's new lead paint ordinance. The reason so few Cleveland homes have gotten the Cleveland lead based paint certification is that the process of obtaining Cleveland's lead paint certification is incredibly confusing. In order for a Cleveland landlord to get their property lead certified by the city of Cleveland, the Cleveland rental property owner needs to go through a cumbersome lead paint inspection process that involves visual lead testing as well as costly lab testing from licensed lead risk assessors. The awareness of the Cleveland lead based paint process is so low that most Realtors and landlords in the city of Cleveland aren't aware that this new lead paint certification process even exists. Without even knowing about the existence of Cleveland's new lead paint law, it's very optimistic for Cleveland lead advocates for safe housing to assume these Realtors and rental property owners in Cleveland will have any idea how to successfully navigate the confusing lead certification process with any amount of regularity. Hence the extremely low lead certification numbers in the Cleveland housing market. In the 57th episode of The Ask James Wise Show, Cleveland landlord and HoltonWise CEO James Wise explains the 10 step process a Cleveland landlord needs to go through to obtain a Cleveland lead based paint certificate for all of their rental properties. If you or someone you know is a Cleveland landlord or a Cleveland area real estate agent selling rental properties in the city of Cleveland, Ohio this lead certification process applies to you.
Dave Chappelle might be getting canceled again. This time it's got nothing to do with the LGBTQ community. Dave Chappelle's latest run in with cancel culture has to do with, of all things, the Ohio housing market. In the 56th episode of The Ask James Wise Show, Ohio landlord James Wise is discussing the recent affordable housing controversy in Ohio surrounding Dave Chappelle's opposition to an affordable housing development near his home in Yellow Springs, Ohio. Is Dave Chappelle wrong for opposing an affordable housing developer building near his home? Does Dave Chappelle's opposition to affordable housing near his Ohio home come with a good reason? Is Dave Chappelle a bigot, or is this affordable housing controversy in the village of Yellow Springs, Ohio just cancel culture's latest attack on a successful business owner meant to push a liberal agenda? How would you feel if a real estate developer decided to build a large amount of low income housing near your home? If you paid a lot of money for your home do you believe you have the right to block low income housing from being built in your neighborhood like Dave Chappelle did? Tune in to HoltonWiseTV for the answer to these questions and many more about the low income housing controversy involving Dave Chappelle and the village of Yellow Springs, Ohio.
Leaving California continues to be a trending topic among California home owners who are sick and tired of the endless socialist housing policies of the far left politicians who hold power over the largest real estate market in America. If the recent LA County eviction moratorium extension that makes evicting tenants for non payment of rent illegal in parts of California until 2023 wasn't enough to push the California exodus forward, this new far left housing tax aimed at San Francisco's landlords will likely do the trick. San Francisco housing supervisor Dean Preston recently announced a new housing tax aimed at California's landlords who feel like they have no other choice but to leave their rental properties vacant due to the radical landlord tenant laws and housing policies in California. This includes the LA County law that had made evictions illegal in parts of California for the last two years and will continue to do so in that part of California until 2023. In the 55th episode of The Ask James Wise Show James Wise explains why he believes that the far left landlord tenant laws and radical housing policies of California are why there is an estimated 40,000 vacant rental units in San Francisco. He believes that these San Francisco house and apartments have been voluntarily left vacant by San Francisco landlords to combat the government created housing crisis that they are dealing with. James Wise believes these Californians have been stripped of their property rights and they have no other choice but to deal with the fact that putting tenants who can't be evicted in these vacant rental houses would be more trouble than it's worth. Will California continuing to create new predatory taxes that vilify landlords fix San Francisco's homeless problem? Will the continued vilification of landlords fix California's housing crisis? Will the California economy be able to prosper if California property owners continue to leave the largest economy in America in droves looking for more reasonable policies and housing prices? Is more taxation the solution to the California homeless problem? How high can California taxes go before the California housing bubble bursts? Tune in to HoltonWiseTV for insight on these California housing issues and much more. HoltonWiseTV is California real estate investing made easy.
Radical Los Angeles housing advocates have canceled rent in California. The cancel rent movement in California just won a huge victory in LA County. The Los Angeles county Covid-19 eviction moratorium has now been extended until 2023. This unprecedented eviction moratorium has made it illegal to evict tenants in LA County for non payment of rent, effectively outlawing being a landlord in this part of California for 3 years. In the 54th episode of The Ask James Wise Show, professional landlord and conservative private property rights advocate James Wise, sounds off on the dangerous rise in socialism in California. With communism and socialism starting to feel like the new norm in the state of California, many California property owners and landlords feel like this is just the latest of many socialist policies in California contributing to the California exodus and the rise of the leaving California movement. Will making LA County evictions illegal for 3 years lead to a California housing crash? Will forcing landlords to let their tenants live rent free for 3 years destroy the California economy? Will America's most expensive real estate market implode on itself with radical left wing housing policy? Will the LA County eviction moratorium ever end? Is rent control in LA County here to stay? Is capitalism in California dead? These are all talking points discussed on HoltonWiseTV. Tune in to HoltonWiseTV for all things housing. HoltonWiseTV is investing in real estate made easy.
It seems like fake news is everywhere these days. Unfortunately the Cleveland housing market isn't immune to the phenomenon of supposed journalists becoming fiction writers. In the 53rd episode of The Ask James Wise Show, James Wise reacts to Cleveland Scene Magazine's cover story by Mark Oprea titled Holton-Wise, a Flood of Covert LLCs and Out-of-State Investors Have Radically Changed the Local Housing Market. Is There Anything Cleveland Can Do to Fight Back? In the story, Mark Oprea fills Cleveland Scene Magazine's pages with misleading information about the Cleveland real estate market, Cleveland housing discrimination, Cleveland Mayor Justin Bibb, and the role HoltonWise plays in the Cleveland housing market as well as Cleveland's economy in general. In addition to all of these half truths written with what appears to be the intent to slander HoltonWise, Mark Oprea's article is filled with various outright lies about HoltonWise and it's CEO James Wise. James Wise goes through all of the lies and misleading information written about HoltonWise and the Cleveland housing market by Mark Oprea and his Cleveland Scene Magazine colleague Sam Allard. Sam Allard, is perhaps the more outrageous liar of the two Cleveland journalists. Sam Allard has been caught red handed writing at least one slanderous article for Cleveland Scene Magazine accusing Cleveland real estate investment company Holton-Wise of being a predatory lender when HoltonWise is not now a lender. In fact, HoltonWise has never been a lender. HoltonWise is not in the mortgage business at all. How are the journalistic standards of Cleveland Scene Magazine so low that fiction writers such as Mark Oprea and Sam Allard are out there publishing falsehoods about Cleveland news? Perhaps this fictitious story from Cleveland Scene Magazine should not be a surprise as Cleveland Scene Magazine is no stranger to legal issues related to inaccurate reporting by Cleveland Scene Magazine's writers. Just last year, Bobby George's Cleveland restaurant TownHall filed a lawsuit against Cleveland Scene Magazine for inaccurate reporting regarding the race and gender of the subject of a social media post made by a TownHall manager. It's a sad day for Cleveland journalism when two fiction writers are out there claiming to be Cleveland journalists while producing fiction about at least one Cleveland area business.
It's no secret that California is the most expensive state in the United States. It's also not a secret that California's politics are by far the most left leaning in all of America. Socialism is on the rise in California. As such, the great California exodus is constantly making headlines as countless Californians are leaving the state in droves because they are sick of California's rising cost of living. Californians are sick of California's out of control housing market. Californians are sick of the rise in socialism in this once great American state. California's mass exodus is such a big deal that "leaving California" has been a trending keyword. If all of that wasn't enough to drive you nuts, it just may be getting worse in California. Reports are that California taxes are going up. Taxes in California aren't just going up, in fact it's been said that California is planning on doubling it's taxes. You heard that right. California taxes are doubling. This is the largest tax rate increase in American history. So what does all of this Californians socialism mean for the California housing market? Will there be a real estate crash in California? Is California doomed? In the 52nd episode of The Ask James Wise Show James Wise is sounding off on the California tax raise, Socialism in America and his love hate relationship with California's cost of living problem and how all of this effect real estate investors living in California. Do Californian real estate investors have other options? Does investing out of state make more sense for California rental property owners? If so, where should they invest? Is Ohio one of the best markets for California's upset citizens? Tune in to HoltonWiseTV for all things housing. HoltonWiseTV is investing in real estate made easy.
Do Intel and Ohio have the solution for America's computer chip shortage? If so, how will this computer chip shortage solution effect the Ohio real estate market? Ohio is often thought of as a cash flow market. But will the computer ship shortage in America and Intel's rumored investment in Ohio real estate turn Ohio into an appreciation based housing market? Will the Ohio housing make see a spike in Ohio property values? What does all of this mean for those investing in the Cleveland, Cincinnati, Toledo or Columbus, Ohio housing markets? These are all the questions and topics Ohio real estate investor James Wise is sounding off on in the 51st episode of The Ask James Wise Show. Recently rumors have been spreading that tech giant Intel is building a $1 Billion dollar semiconductor plant in New Albany, Ohio. James Wise goes over what he thinks of this new computer chip factory in Ohio and how he believes it's going to effect the Ohio real estate appreciation rates for years to come. If you are interested in learning more about real estate investing in Ohio tune in to HoltonWiseTV today. HoltonWiseTV is Ohio real estate investing made easy.