American Real Estate Investments and Get Rich Education Tour Dallas

American Real Estate Investments and Get Rich Education Tour Dallas

(Upbeat Music)hello Everyone I'm John
Larson One of the Partnershere at American Real Estate Investments.i'm Joined by My Good
Friend Keith Weinholdfrom Get Rich Education.he Has Excellent Podcasts
That We Tune into Every Week.keith Is Joined Us Here
in Dallas All the Wayfrom Anchorage, Alaska to
Come Tour the Dallas Market,meet the American Real
Estate Investments' Team,tour Our Areas Where We Invest Inand Check Out Some Great
Investment Properties.so for Those of You That Don't Know Aboutget Rich Education I'd Like
to Introduce You to Keithat This Point and Keith Why
Don't You Let the Audienceknow a Little Bit About the Podcast,some of the Topics That You Coverand Why It's a Good Kind
of Show to Check Out.- Yeah Well Thanks John
and I Appreciate Being Hereat American Real Estate
Investments in Dallas.my Name Is Keith Weinhold
You Might Know Mebecause I'm the Host of the
Get Rich Education Podcastand Own Getricheducation.com Where We Usean Abundance Mindset to
Invest in Real Assetsespecially Real Estate for an Outcomeof Lifestyle Improvement,
Not Just More Doors,not Just More Income, Not Just More Timethat That Opens Up but an
Outcome of Lifestyle Improvementtypically Secured with Real Estate.so I've Had the Good Fortune
to Host Robert Kiyosakiand Most of the Rich
Dad Advisors on My Showand I'm a Contributing Writerto the Rich Dad Advisors Myselfand I Often Provide Content
to You So We Can Reallyhelp You Build the Passive
Income in Your Lifeso You Can Live a Life
Better Than You Ever Thoughtyou Could Through Get Rich Education.- So at This Point Let's Get
in the Car Let's Go Drivearound Dallas, Check Out the Areaand Then Let's Go Check
Out Some Great Properties.how Does That Sound?- Let's Do It.(upbeat Music)- Here We Are at One of
Our Investment Propertiesin Lancaster, Texas Which
Is Just South of Dallas.it's About a 15 Minute Rideinto the Central Business District.this Is One of Our
Recently Completed Homes.we Do a Lot of Homes
Like This Here in Dallas.it's a Standard Three Bed Two Bathjust Over 2,000 Square Feet.this Property Was Built
in 2003 So It's Generallya Newer Built Home.the Sales Price on This Home,
It's Already Under Contract.these Properties Do Move
Very Quickly Here in Dallason My Acquisition Side
and on My Sell Side.once We Get These Homesunder American Real Estate
Investments' Ownershipwe're Already Marketing
Them to Our Clientsand They're Basically Getting Contracts Inand Just Waiting for the
Renovation to Be Doneso It's Move in Ready for a Tenant.but This Home Here Will Rent for 1550and the Net Operating Income Per Monthis Just Under $1000 at 985
So Really Really Solid.if You Look at the Neighborhood Here Keithi Mean This Is a Really
Solid a Class Neighborhood.you See a Lot of Newer
Built Properties Here.it Looks Like People Are
Taking Care of Their Lawns.you Can Tell This Isn't Justa Heavily Renter Type Neighborhood,you Know Investor Owned Neighborhood.there's Owner Occupants in
These Neighborhoods as Well.that's Where We Really
Like to Strategically Buy.that Way We Just Feel Like
the Investment Ends Up Beinga Lot Safer for Our Investors.the Exit Strategy Is
There, Solid Exit Strategy.you Could Easily Sell Any One
of These Homes on the Mos.so That's Why We Really
Like to Target Neighborhoodsjust Like This.- [Voiceover] Just Tell Us a Little Bitabout the Renovations
That Were Done in Here.- Yeah So Pretty Much a
Full Cosmetic Overhaulon This Property and That's
What We're Doing Generallywith the Newer Built
Homes That We're Getting.obviously This House Was Built in 2003.you Know There Is No
Need to Replace the Roofon This Property, Nothing
Structurally Wrong with the Homeso This Property Here Obviously
Had a Full Cosmetic Overhaulwhich Was Paint, Flooring.if You Look All the
Light Fixtures, the Fans,everything Is Brand New.- and It Matches.- Exactly, We Want Everything
to Match Everything.when a Tenant Comes in This House,a Perspective Tenant We Want
Them to Kind of Be Wowedlike Oh My Gosh, Everything's
New Everything Looks Good.this Way We Can Get the
Property Leased Quickly.we Can Get It Leased
at Top of Market Value,obviously We Want to Command
as Much Rent as We Canfor Our Owners So the Cash Flow Increases.yeah We Do This Epoxy Coating
on Our Kitchen Counters.sometimes We'll Buy Our
Houses There's Granite Alreadyin Place Obviously We're
Going to Leave Thatbut We're Not Necessarily
Going to Put Granitein a Rental Property, It's a Rental.we Want It to Look Nice but We Don't Wantto Put in Too Many Expensive
High End Finishes, Right.so We Have a Different Color
Scheme That We'll Use Herewith This Epoxy Finish
Which Kind of Makes Itgive It a Feel of Like a Granitebut Obviously Not Expensive Like Granite.we Did Put Carpet in the Bedrooms.you Know the Tenants Do
Kind of Like to Have Carpetin the Bedrooms They Kind of Prefer That.we Do Like to Use the Plank When We Can.a Majority of the Plank
Because That Stuff Willwithstand More Turnovers, Right.it's Just a Little More Durable.carpet Can Tend to Get
Dirty from Time to Timeand Might Only Last Two to
Three Turnovers Right at Most.(upbeat Music)we're in Seagoville Right
Now Which Is Actuallyjust East of Where We Were and Southeastto the City of Dallas.we're a Little Bit
Farther Out from the City.i Would Say It's About
20 to 25 Minute Driveinto the City from Here.this Is Another Kind of Style of Homethat We Do Here in Dallas.- [Voiceover] You Know
the Thing Finds Us Herein a Place Like Seagoville, Texas Herejust Southeast of the
City Center of Dallas.you Know That's Because Often Times Rightthe Inner City of Dallas Is Where We Kindof Have That Class D
or Low End C Property.- [Voiceover] Right.- Where We Just Can't
Really Even Get a Tenantthat Will Reliably Pay the Rentand Then Also We Don't
Want to Go North of Dallasbecause We're Also on the Other End Thereright as I've Found
Out from Our Visit Herebecause You Might Get the Same Rent Amountthat You Do in Some of Those Homesbut the Purchase Prices
Extend to a Much Higher Extentsuch That It's Not Consonance Anymorelike a Property in Seagoville Does.- Exactly Exactly So Yeah We
Try and Avoid the Inner Cityneighborhoods Around the Us.it's Just You're Dealing with
More Distressed Properties.you're Dealing with Lower
Income Earning Tenantswhich Generally Can Set You
Up for a Higher Risk Profileand Then Also You're Not
Going to Have a Professionalmanagement Company Like
in American Real Pmthat's Going to Be Willing to Manage Homesand Tenants Like That and
Great Point to Touch On,why We Don't Purchase in
Areas in the North Likeif People Are Doing
Their Research on Dallasplano's Going to Be an Area
That Comes Up in Conversationas a Really Really
Booming Economy Right Now.lot of Fortune 500 Companies
Moving into That Area.problem Is Just the
Property Values Up There Arejust Too High Which Also Makes
the Property Taxes Higherwhich Can Really
Negatively Effect Cash Flowbut Then Also You Know
a 2,000 Square Foot Homein Plano or Frisco Really
Doesn't Rent for That Much Morethan a 2,000 Square Foot
Home in a Lancaster,a Cedar Hill, a Seagoville,
It's Really Quite Funnybut That Is the Truth.(upbeat Music)i Really Appreciate You Coming Out Again.coming and Checking Out American
Real Estate Investments,staying a Couple of
Days with Us in Dallas.i Just Kind of Want to Wrap Things Upand Just You Know Get
Your 10,000 Foot Viewon What You've Seen Here in Dallasduring Your Stay, What Was
Your Initial Impressionof the Market, and How Do You Feelabout the Market as a Whole?- Yeah Well It Really
Starts with the Marketand the Market Is Really Why
We Are Here in Dallas Todaystanding with Each Other Right Nowso You Know You're Seeing a Lotof Business Friendly Tax Incentivesthat Continue to Bring
Substantial Fortune 500 Companiesthat Continue to Bring Jobs and Tenantsto Provide Durable Streams
of Income for Investors.so Besides the Business
Friendly Tax Incentiveswe Have a Very Low Cost of
Living and That's Reallyattracting Both Businesses
and Residents Alike.we Also Have a Very Central
Location in the United Statesand That's Really
Preferable to Do Businessas More and More Companies
Do Business Across Bordersand Outside of Time Zones.- Absolutely I Mean That's Why We Movedthe Company Down Here, That's
Why We've Been in This Marketsince 2012 So Great
Points That You Brought Upand Let's Just Take That
into the Actually Investmentproperty Itself, You
Know a Class Properties,generally Newer Built Homes.what Did You Think,
What Was Your Impressionof the Homes When You
Walked Through Them Today.did You Think They Were
High Quality, You Knowdurable Investment Properties,something That an Investor Isn't Goingto Have a Ton of Maintenance Issuesor High Capital Expenditureswithin the First Five Years of Ownership.- Yeah We Have Substantial
Renovations to the Propertyand I Think the Other Thing
That's Really a Marketdifferentiator in Dallas Fort Worth Isyou Typically Have Newer
Stock Here, You Knowa Lot of These Homes Were Built
in the Last 20 Years or Lessso You Really Have the Type
of Home That's Not Goingto Have Nearly as Many of
the Functional Obsolescenceproblems That You Might
Have with Some Propertiesin Other Markets.you Know and We're Really Seeingan Adequately Staffed Company
That's Really Communicativeand Really Good on the Outreach You Knowfor Example You Invited Me Down Hereand You Guys Were Also
Really Good in Your Outreachtoo as Far as Being Transparent
and Attending Eventsand Making Yourselves Very Accessiblejust Like You Did with Me Today.- Absolutely, Well I
Appreciate the Kind Words Keithand We Appreciate You Coming Downand Hey Look Forward to Bringing
You Down Again Next Time.- Oh It's Been a Great
Trip Thanks So Much.- Thank You.(upbeat Music)