11) Overcoming Analysis Paralysis & How Often to Wash Your Properties

Real Estate Investing with House Money

House Money Weekly

In this week’s House Money Weekly segment, your hosts discuss blog 113, which covers analysis paralysis, which according to Investopedia is an inability to make a decision due to over-thinking a problem. What causes this? Perhaps it’s from having too flexible of a buy box. Alan suggests narrowing price point within $30k. Lauren reminds listeners to truly decide on your why and your strategy. Alan reminds listeners that you’re going to learn a lot when you take action, so you should act soon.

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Real Estate Is Easy Interview

Lauren interviews Julius, who has built a power washing company over the last 4 years in New York with his brother. They’ve washed hundreds of houses and generated hundreds of thousands in revenue. He starts by explaining what power washing and pressure washing is. It turns out, a lot of companies may be power washing when they should be soft washing (who knew?)! Why should investors wash their properties? Of course, it helps with curb appeal, but it also can contribute to the longevity of the building, like the roof. Julius suggests washing properties every few years. Reviews should tell you which properties are good, but you should check for insurance too. What should this cost? Most houses are $300-$500 ish. Adding the roof, you’d be at around $1000. And lastly, Julius tells us how he makes real estate easy.

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Mortgage Minute: Jasmine answers the question: what are closing costs?

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Teatime with Tom

Tom’s segment is about how to make money without roommates on your rental. For example, Tom generates some additional cash from providing commercial laundry facilities. Other ways: renting out your garage, pet rent, and more. Alan charges for parking spots for his quad (he has 2 spots to offer). He’s also rented storage areas of his properties to tenants. Lauren is considering partnerships for her short-term rentals. Your real estate can have multiple income streams too.

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