What Every Real Estate Investor Needs To Know About CASH FLOW
If you are the kind of person who really wants to understand the numbers behind a deal, then you can’t miss Frank Gallinelli’s book, What Every Real Estate Investor Needs To Know About CASH FLOW.
There are a ton of calculations in here that will help you navigate discounted cash flow, net present value, cap rate, profitability index, and much more.
Gallinelli is the guy behind RealData, Inc., the real estate industry’s sofware firm that helps investors figure out if something is a good deal or not. I’ve read this and re-read this, and I’ll keep going back to it.
Self-Directed Iras: Building Retirement Wealth Through Alternative Investing
Whether you’re already in a self-directed IRA, or not, you definitely need to read Dick Desich’s book Self Directed IRAs. Desich is the first guy to start investing in IRAs, buying a commercial property in Ohio which – I’m told – he still owns today.
He’s also the guy who founded the Big Daddy of the self directed IRA companies, Equity Trust.
There’s a wealth of information about what you can do and can’t do – and more importantly what you OUGHT to be doing to pump up your retirement stash.
The Total Money Makeover
I have to admit, I’m kind of a Dave Ramsey addict. I put his podcasts on in the car and listen to him coaching people out of their money mistakes. There are some doozies, Holy Cow! You’ll probably feel better about any financial gaffes you’ve made after listening to him.
It’s true, I don’t agree with him on everything, but his principles are sound: personal debt will keep you a slave. Why pay someone else when you could be paying yourself?
If you like ‘doing right’ by others and living independent of the ‘herd mentality,’ then Ramsey’s book The Total Money Makeover is a must read.
Seller Financing on Steroids: Pumping Paper for Power, Peace and Profits
I must admit, I like Dawn Rickabaugh’s attitude on note buying. She’s not pushy, she’s not ‘salesy.’ I first ran into Rickabaugh’s brand of notebuying when I was learning the financial calculator. She has some videos demonstrating how to use the 10bii app that makes it really easy.
Basically, she explains in a simple fashion why owner financing is so important, and how you can create notes to get out of the toilets and tenants business – and trade up to being the bank.
Seller Financing on Steroids lays out the simple facts for when and if you should be offering terms, and which strategy best meets your needs for income, safety and flexibility. When you use owner financing to sell a property you hold, you can get the best possible price, but you should know how to do that in a way that protects you. PLUS, you need to know how to set it up, so the note you create has value for another buyer down the road.
ALSO – check out her YouTube channel videos. Great stuff!