WEBVTT - What Makes a Good Rental Property #027 0:00:00.040 --> 0:00:02.920 Welcome to How to Money. I'm Joel, I'm Matt, and 0:00:02.960 --> 0:00:05.360 today we're talking about what makes a good rental property 0:00:05.640 --> 0:00:27.400 and Matt super cheap glasses? What why are you switching 0:00:27.440 --> 0:00:29.920 up the order here? Man? You have to talk about 0:00:29.960 --> 0:00:32.080 my glasses? Well, you know, good host knows when they 0:00:32.120 --> 0:00:34.680 shake things up. And I saw you in these fancy 0:00:34.720 --> 0:00:38.000 looking glasses. Tonight is my photography glasses. I only wear 0:00:38.040 --> 0:00:41.239 these typically when I'm only shooting. And so why why 0:00:41.280 --> 0:00:43.840 did you break about tonight? And my I couldn't find 0:00:43.840 --> 0:00:45.440 my other ones? And how much did they cost? I 0:00:45.440 --> 0:00:47.479 want to know that, so you should know that all 0:00:47.520 --> 0:00:51.080 my glasses are from Zenny. Did you know that optical? Literally? Yeah, 0:00:51.200 --> 0:00:55.000 so is any optical. They're one of those cheap overseas players. 0:00:55.680 --> 0:00:59.080 And dude, I have I'm gonna guess eight or nine 0:00:59.120 --> 0:01:02.320 different pairs from them, and they're great. They're super cheap, 0:01:02.440 --> 0:01:04.479 which allows you to purchase two to three at a time, 0:01:05.319 --> 0:01:07.360 and you know, if it doesn't work out, it's like, 0:01:07.360 --> 0:01:09.120 well I only dropped twenty bucks on them, all right, 0:01:09.120 --> 0:01:11.759 So twenty bucks a pair? Is that roughly what you're spending? Yeah? Yeah, 0:01:11.959 --> 0:01:13.440 it's been a couple of years. Maybe two or three 0:01:13.480 --> 0:01:16.880 years since I've ordered some. But yeah, typically you can 0:01:16.880 --> 0:01:18.880 get like the fancier coatings on there where it's like 0:01:18.920 --> 0:01:22.679 smudgeproof for different like UV. I don't know UV coading. 0:01:22.920 --> 0:01:24.520 I think all that's kind of bull crap anyway, So 0:01:25.040 --> 0:01:27.880 I love Zenny. I don't wear glasses because if you did, though, man, 0:01:28.000 --> 0:01:29.800 I think you would love Zenny. I totally go to 0:01:29.880 --> 0:01:32.720 so cheap. Yeah, that's awesome. I've totally you know, dug 0:01:32.760 --> 0:01:34.720 around on the website before and stuff like that. By 0:01:34.720 --> 0:01:36.880 the way, not an ad Matt just has any glasses. 0:01:36.880 --> 0:01:40.240 And so if you want to check out any optical, 0:01:40.319 --> 0:01:43.280 like literally an awesome money saving strategy if you wear 0:01:43.360 --> 0:01:46.440 glasses is to shop at ennypple, so it's any optical 0:01:46.560 --> 0:01:50.440 Z E, N N I, and then Optical dot com. 0:01:50.640 --> 0:01:51.840 So we'll put a link in the show notes. And 0:01:51.880 --> 0:01:55.240 then there's other actual, you know, similar companies online, like 0:01:55.280 --> 0:01:57.640 there's Goggles for you, and I've heard of them, I've 0:01:57.680 --> 0:01:59.480 never checked them out. I thought about hopping on there 0:01:59.480 --> 0:02:01.840 to check out one of their styles, see what they 0:02:01.880 --> 0:02:04.200 look like. But like the glasses you're wearing like legit, 0:02:04.360 --> 0:02:06.800 like like like Warby Parker or something like that. But 0:02:06.840 --> 0:02:08.840 you're talking about a hundred dollar glasses, and if you're 0:02:08.840 --> 0:02:12.480 going to one of the traditional eyeglass shops, you're probably 0:02:12.480 --> 0:02:14.760 spending or if you're even going to Costco, which hundreds 0:02:14.880 --> 0:02:18.240 reasonable hundreds, you're dropping at least two hundred bucks minimum 0:02:18.480 --> 0:02:21.200 on glasses. And so yeah, you know, go go to 0:02:21.240 --> 0:02:24.200 your eye doctor, you know, get your prescription, and you 0:02:24.280 --> 0:02:26.640 get the pupillary distance. That's an important How do you 0:02:26.680 --> 0:02:30.520 know all this? I know you don't even wear glasses, 0:02:30.520 --> 0:02:32.720 and you know you know about pupillary distance. I know 0:02:33.200 --> 0:02:35.120 all the numbers, of course, And so you gotta get 0:02:35.160 --> 0:02:37.120 all those things, plug plug them into a site like 0:02:37.200 --> 0:02:40.400 Zenny or goggles for you and just save joy, saving 0:02:40.520 --> 0:02:43.240 tons of money, tons of money on glasses and don't 0:02:43.240 --> 0:02:44.880 worry about it, because I think that's the biggest hang 0:02:44.919 --> 0:02:46.480 up people have. They're like, what if they don't fit 0:02:46.520 --> 0:02:48.200 me and or maybe I won't like them, you know, 0:02:48.320 --> 0:02:50.800 and just order a few pairs and they've got the 0:02:50.800 --> 0:02:52.840 different kind of sizes on there, and you know, take 0:02:52.880 --> 0:02:54.760 the measurements and do all that and if one or 0:02:54.800 --> 0:02:57.320 two don't work out, that's fine. You still got a 0:02:57.360 --> 0:02:59.760 new pair of glasses for sixty bucks. Assuming too of 0:02:59.760 --> 0:03:01.520 them to work out, you know, and you can I think, 0:03:01.600 --> 0:03:03.679 upload a picture of your face, right and yeah, yeah, 0:03:03.680 --> 0:03:06.800 you can do a virtual triogh Yeah, super funny because 0:03:06.800 --> 0:03:08.560 they I mean, they were doing this years ago, like 0:03:08.560 --> 0:03:09.880 seven years ago. Maybe it is when I got my 0:03:09.880 --> 0:03:11.560 first They've been around a long time at this point, 0:03:11.639 --> 0:03:13.920 and I remember the first time I did that. Nobody 0:03:13.919 --> 0:03:15.320 else had ever done something like that. I thought that 0:03:15.360 --> 0:03:19.239 was the funniest thing. You're an observant, dude, commenting on 0:03:19.320 --> 0:03:21.240 my glasses. Saw the new glasses. I was wondering, what 0:03:21.280 --> 0:03:23.560 was up, dude. I wanted to mention too. I finally 0:03:23.600 --> 0:03:27.080 got my uh, speaking of photography, I finally got my 0:03:27.120 --> 0:03:30.519 business checking accounts set up, and I'm about to kick 0:03:30.960 --> 0:03:36.760 Wells Fargo to the curb. Finally, high five my friend 0:03:36.960 --> 0:03:40.280 because I don't know. They suck so bad. We talk 0:03:40.360 --> 0:03:43.800 about this that they're essentially the devil. Really, yeah, Wells 0:03:43.800 --> 0:03:46.040 Fargo is the worst. So if you are banking with 0:03:46.080 --> 0:03:49.040 Wells Fargo right now, please please do yourself a favor 0:03:49.080 --> 0:03:51.320 and leave them. I have we have an article on 0:03:51.360 --> 0:03:53.160 our site about you know, how to switch banks and 0:03:53.200 --> 0:03:55.920 which banks you should consider switching to. But like dude, 0:03:55.920 --> 0:03:58.040 thank you, way to go, thank for leaving Wells Fargo. 0:03:58.160 --> 0:04:02.320 Like that's just a good American thing to do. Congratulations, 0:04:02.760 --> 0:04:04.520 it's the middle of the summer now, you know, there's 0:04:04.520 --> 0:04:07.560 nothing more American than kicking a giant conglomerate bank to 0:04:07.680 --> 0:04:11.720 the curve when they have treated people very poorly, literally 0:04:11.720 --> 0:04:14.760 committed crimes and and still no one goes to jail 0:04:15.480 --> 0:04:18.640 and there and their executives and CEOs get huge bonuses 0:04:18.720 --> 0:04:21.880 batty bonuses, thirty fifty seventy millions. What do you think 0:04:21.880 --> 0:04:24.600 about their new ads? Have you seen them? With the 0:04:24.640 --> 0:04:27.200 World Cup being on, They're like, we've been around since 0:04:27.360 --> 0:04:32.280 whatever year, but rebirth or renewed, you know, basically, I 0:04:32.279 --> 0:04:34.320 feel like it's just the lame way of like admitting 0:04:34.320 --> 0:04:37.520 that they screwed up. It feels very disingenuous because it 0:04:37.600 --> 0:04:40.360 feels like it's just branding, you know, right, Like it's 0:04:40.360 --> 0:04:41.720 a good it's a good way to brain yourself. I 0:04:41.720 --> 0:04:44.520 always but most people don't even know, aren't paying attention, 0:04:44.560 --> 0:04:46.760 I don't think. But the amount of stories that came 0:04:46.800 --> 0:04:49.520 out over the last what year and a half, of 0:04:49.760 --> 0:04:52.080 all the things that Wells Fargo has done to the 0:04:52.080 --> 0:04:56.239 American people. Uh, it are astounding, and you know, creating 0:04:56.240 --> 0:04:58.800 fake accounts and people's names just to hit the like 0:04:58.839 --> 0:05:03.279 the branch quotas manager is pressuring teller is basically to 0:05:03.320 --> 0:05:05.680 make it happen no matter what. Essentially, it's like, all right, well, 0:05:06.080 --> 0:05:07.400 when you put that kind of pressure on your on 0:05:07.440 --> 0:05:08.720 your on your employees, what do you what do you 0:05:08.720 --> 0:05:10.240 expect that they're gonna do? You know, if they're going 0:05:10.279 --> 0:05:13.000 to get fired for not hitting a certain number of 0:05:13.040 --> 0:05:17.080 new accounts opened within a period. So terrible culture to 0:05:17.120 --> 0:05:19.560 work in, and what they did to you know, so 0:05:19.600 --> 0:05:22.480 many of their own customers and um human people who 0:05:22.480 --> 0:05:24.480 weren't their customers that they were signing up for accounts. 0:05:24.680 --> 0:05:26.880 It's pretty awful stuff. If you just go to Google 0:05:27.240 --> 0:05:29.640 and type in Wells Fargo and then hit the news 0:05:29.680 --> 0:05:32.000 button and then just scroll through like the last year 0:05:32.000 --> 0:05:33.760 and a half, you'll you'll be amazed at all the 0:05:33.839 --> 0:05:36.680 terrible things they've done and how everyone's gotten away scot 0:05:36.880 --> 0:05:39.000 free man in the whole process. So I feel like 0:05:39.120 --> 0:05:41.120 we've said their name enough. Let me I do want 0:05:41.120 --> 0:05:43.279 to say who I'm switching to. It almost sounds funny 0:05:43.279 --> 0:05:45.240 to say because they don't sound like a real bank. 0:05:45.400 --> 0:05:50.320 But but there let me the best online free business 0:05:50.360 --> 0:05:54.160 checking account, did I say everything? Yeah? So their online 0:05:54.279 --> 0:05:56.599 they're not based in the location. It's for business, which 0:05:56.640 --> 0:05:58.880 is tough. For years, I've been looking for a great 0:05:59.000 --> 0:06:01.680 free online busines this checking account. Business accounts are the 0:06:01.680 --> 0:06:04.680 hardest one. It's so hard as a personal, as a human, 0:06:04.720 --> 0:06:06.640 as a single individual, but it's really hard as always 0:06:06.640 --> 0:06:09.560 a business to get a good free checking account. Yeah. 0:06:09.680 --> 0:06:12.400 Only recently have the business checking accounts kind of come 0:06:12.400 --> 0:06:14.640 on board specifically with what I'm looking for to which 0:06:14.720 --> 0:06:17.159 is not maintaining a balance. And that's one of the 0:06:17.200 --> 0:06:20.400 things I hate about my my wealth Fargo. And it's 0:06:20.400 --> 0:06:23.360 a grandfather to account, so I've got perks. So they've 0:06:23.360 --> 0:06:26.120 probably gotten like a lot worse. Yeah. Yeah, And so 0:06:26.160 --> 0:06:27.760 I don't know what what what the requirements are, but 0:06:27.800 --> 0:06:29.200 I know that they're worse. It's the only reason I've 0:06:29.200 --> 0:06:31.039 held onto that account because I try to sort of 0:06:31.080 --> 0:06:33.479 reorganize my accounts, and I realized it was gonna I 0:06:33.480 --> 0:06:35.839 was gonna have to increase the amounts either that I 0:06:35.880 --> 0:06:38.240 spent every month out of that account, or I was 0:06:38.240 --> 0:06:40.479 gonna have to maintain a higher balance. So I'm looking 0:06:40.520 --> 0:06:44.039 forward to only having to keep zero dollars in my 0:06:44.279 --> 0:06:46.760 Bank of the Internets, which is their name by the way, 0:06:46.760 --> 0:06:47.920 I don't know if I have I not said their 0:06:47.960 --> 0:06:50.360 name yet, Bank of the Internet. No you haven't, so 0:06:50.480 --> 0:06:54.400 that it's yeah, Bank of Internet. I think the actual 0:06:54.520 --> 0:06:57.160 name maybe Bank of the Internet. And that's amazing. You've 0:06:57.160 --> 0:07:01.680 read like you d C insurance that all that completely. 0:07:01.960 --> 0:07:05.440 It's it's b of I is there is like their 0:07:05.440 --> 0:07:09.840 shorthand Bank of Internet, be of Viye, But they're the 0:07:09.880 --> 0:07:12.880 one I'm on though now is the basic business checking account. 0:07:13.080 --> 0:07:15.400 And for them you do have to make a one 0:07:15.400 --> 0:07:18.280 thousand dollar initial deposit, but then after that you can 0:07:18.320 --> 0:07:19.800 just pull it out and then you're sitting there with 0:07:19.840 --> 0:07:21.440 a zero balance and I can use them to make 0:07:21.480 --> 0:07:25.800 my my business deposits remotely with my phone. And their 0:07:25.840 --> 0:07:29.440 limits are way higher than any big name bank like 0:07:29.520 --> 0:07:32.720 Chase or Wells Fargo. And their daily limits are higher, 0:07:32.720 --> 0:07:35.240 their monthly limits limits are higher, a much higher dollar 0:07:35.280 --> 0:07:37.800 amount than I mean, let's be honest that I'm ever 0:07:37.840 --> 0:07:40.640 gonna pull in. Yeah, it's They're like, oh the limits 0:07:40.640 --> 0:07:43.520 are I mean there's something like fifty a month. I'm like, okay, 0:07:43.600 --> 0:07:45.960 that's not gonna be a problem for me, trust me, dude. 0:07:45.960 --> 0:07:47.800 I know you've been kind of on that this hunt 0:07:47.800 --> 0:07:49.880 for a long time, so I'm glad you've just been busy. Man, 0:07:50.200 --> 0:07:52.080 it just takes some time to finally sit down. Yeah, 0:07:52.080 --> 0:07:54.080 I'm glad you found something that you know works on 0:07:54.120 --> 0:07:56.240 all those levels for you. And you know, we'll we'll 0:07:56.240 --> 0:07:57.560 put a link because I know there's a lot of 0:07:57.640 --> 0:08:00.920 small business owners that listen to this podcast and they 0:08:00.920 --> 0:08:03.160 probably are paying, you know, monthly fees every month for 0:08:03.240 --> 0:08:05.320 having a checking account or their limits or there's all 0:08:05.360 --> 0:08:07.200 these hoops have to jump through and it's just a 0:08:07.240 --> 0:08:09.560 huge pain having to do twelve transactions a month in 0:08:09.640 --> 0:08:12.800 order to keep it free. They accidentally click a view image, view, 0:08:12.880 --> 0:08:14.960 check image, deposit and then they get charged three fifty 0:08:15.680 --> 0:08:18.840 if you're listening, yes, yes, well as firego man, they 0:08:18.880 --> 0:08:21.160 do it, dude, that's the dirtiest thing I've ever heard of. 0:08:21.440 --> 0:08:23.240 I'm not even kidding. When you go and you log 0:08:23.280 --> 0:08:25.760 into your account, it's got your transaction summary and it'll 0:08:25.800 --> 0:08:27.440 say deposit and I'll have a little link and it 0:08:27.480 --> 0:08:29.880 says view image. And remember the first couple of times 0:08:29.880 --> 0:08:32.440 I did that because I like to see I just 0:08:32.559 --> 0:08:34.079 make sure, like, is that the one with that that 0:08:34.120 --> 0:08:36.000 I think I think it was because sometimes the amounts 0:08:36.000 --> 0:08:39.160 for the same and yeah, I was getting hit with 0:08:39.200 --> 0:08:41.760 these charges. Man. It wasn't until maybe a year later 0:08:41.800 --> 0:08:43.800 that they put a disclaimer kind of next to it 0:08:43.880 --> 0:08:46.559 explaining that that's what that was for the year before 0:08:46.559 --> 0:08:48.199 that though, when I was figuring it out myself, I 0:08:48.240 --> 0:08:50.160 mean I called them up. They said, oh, that's because 0:08:50.200 --> 0:08:54.720 you clicked view image, which freaking costs them nothing. Yeah 0:08:54.760 --> 0:08:57.800 that's crazy, that's crazy. That's so that I think to 0:08:57.960 --> 0:09:00.840 takeaways from the to takeaways if you are if you're 0:09:00.880 --> 0:09:05.200 a business owner, you should totally look into Bank of Internet. 0:09:05.480 --> 0:09:08.400 And we'll put a link on our show notes. Yeah 0:09:08.520 --> 0:09:10.400 you love to create, like write a post or something, 0:09:10.440 --> 0:09:11.840 but at the very least we'll have a link up 0:09:11.840 --> 0:09:15.079 there directly to them, because I mean, they're not advertising 0:09:15.120 --> 0:09:17.480 with us that it's just they're just a great, great 0:09:17.520 --> 0:09:19.600 service that they're putting out there, great resource for small 0:09:19.600 --> 0:09:22.840 business owners. And then if you do your banking with 0:09:22.840 --> 0:09:26.480 Wells Fargo in any way, former fashion and I probably 0:09:26.559 --> 0:09:28.719 have police stop and you know, I don't think you know, 0:09:28.800 --> 0:09:30.920 we're not usually here to bash companies. That's not usually 0:09:30.960 --> 0:09:33.400 what we're about. But I feel okay to doing that 0:09:33.480 --> 0:09:37.840 about right I. It feels cathartic. Actually, I think to 0:09:37.840 --> 0:09:41.000 to talk about how terrible they've been and uh and 0:09:41.000 --> 0:09:42.920 and if you do your business like things like that, 0:09:43.440 --> 0:09:46.240 we get our money taken from us as as consumers, 0:09:46.280 --> 0:09:48.880 as individuals because we don't fight back and because we 0:09:48.960 --> 0:09:51.920 don't move when a company takes advantage of us like that. 0:09:52.000 --> 0:09:54.880 And the competition in this country is so stiff, especially 0:09:54.920 --> 0:09:57.280 in the area of banking. There's so many good banks 0:09:57.280 --> 0:10:01.160 out there offering such great services. That for you to 0:10:01.240 --> 0:10:03.760 stay with the company that hates you, that doesn't care 0:10:03.760 --> 0:10:06.000 about you, and then it's going to charge you exorbitant 0:10:06.000 --> 0:10:09.319 fees for ridiculous things like clicking to see an image 0:10:09.320 --> 0:10:12.640 of your check, then insane. We're doing it to ourselves. 0:10:12.679 --> 0:10:15.760 And so leave a company like that, immediately go to 0:10:15.760 --> 0:10:18.120 another bank as quick as you can, you know, hustle 0:10:18.240 --> 0:10:20.760 up and uh. And it's good for our country, it's 0:10:20.760 --> 0:10:22.880 good for you. I mean, we should just not be 0:10:22.960 --> 0:10:26.400 supporting companies like this to treat their customers in this way. Yeah, 0:10:26.400 --> 0:10:28.640 I feel bad for even having waited this long, you know, 0:10:28.840 --> 0:10:30.320 I feel like I've I've I've been on the wrong 0:10:30.360 --> 0:10:34.559 side of history. Uh, but like waiting and not taking 0:10:34.640 --> 0:10:36.800 steps to kind of further go down that path. And 0:10:36.840 --> 0:10:39.280 you know what, last thing about the big banks, they 0:10:39.320 --> 0:10:43.600 continue to pay point zero one, all of them on 0:10:43.840 --> 0:10:48.080 your savings. So lame it? Need we say more? Yeah, 0:10:48.920 --> 0:10:52.640 all right, onto the beer for this evening. Um. Our 0:10:52.679 --> 0:10:57.120 friends Michelle and Jen just got back from Iceland. They 0:10:57.120 --> 0:10:59.440 actually went to a few countries and I was one 0:10:59.480 --> 0:11:02.280 of them, did a little tour. Apparently it's the land 0:11:02.320 --> 0:11:04.720 where there's a waterfall around every corner, which sounds awesome. 0:11:04.800 --> 0:11:06.520 Definitely want to go to Iceland at some point. Oh 0:11:06.559 --> 0:11:09.240 and the flights are actually really cheap to Iceland, Yes, 0:11:09.320 --> 0:11:12.600 in the wreck of vic Yeah, because Iceland Air flies 0:11:12.640 --> 0:11:15.679 there from like some of the Northeastern cities, and so 0:11:15.800 --> 0:11:17.319 if you want to get to Iceland, you can actually 0:11:17.440 --> 0:11:19.400 do it pretty reasonably if you fly out of the 0:11:19.400 --> 0:11:22.319 Northeastern corridor. So is Iceland still like the hit of 0:11:22.360 --> 0:11:24.440 city to the flant I think Iceland is the place 0:11:24.480 --> 0:11:27.640 to go, man. Like, I've got tons of photographer friends 0:11:27.640 --> 0:11:30.280 and everybody always post pictures from from Iceland. It's like 0:11:30.360 --> 0:11:33.240 the cool place to take a picture of horses and waterfalls. 0:11:33.600 --> 0:11:37.160 Waterfall like a black church like on the hillside. Yep, yep, 0:11:37.280 --> 0:11:40.440 that's it. That's it. That's Iceland. So we have an 0:11:40.559 --> 0:11:45.000 Icelandic stout from a brewery called Borg. Let's pop it. 0:11:45.240 --> 0:11:47.079 You sure that's how you say it? We we botch 0:11:47.160 --> 0:11:52.199 any other European uh name or phrase. I'm sure that 0:11:52.280 --> 0:11:58.360 I'm not sure that that's how it said Borg. So 0:11:58.400 --> 0:12:01.560 do you know anything about this actual? I don't. My 0:12:01.640 --> 0:12:05.680 friend Michelle texted me from Iceland and said, hey, we 0:12:05.760 --> 0:12:08.719 wanna get you a beer. Do you know what Icelandic 0:12:08.720 --> 0:12:12.120 breweries are good? And I didn't off the top of 0:12:12.160 --> 0:12:14.280 my head. So I went to the trust the old Internet. 0:12:14.480 --> 0:12:17.559 One of my favorite websites for looking up what beers 0:12:17.559 --> 0:12:19.800 are good, what breweries are good in a place, Beer 0:12:19.840 --> 0:12:22.880 advocate dot com. It's a great site. Like when I'm 0:12:22.920 --> 0:12:25.559 going to a city or to a country, I always 0:12:25.600 --> 0:12:27.360 go to be your advocate just to kind of see, 0:12:27.640 --> 0:12:29.880 you know, what people rate these breweries and the beers, 0:12:30.160 --> 0:12:31.640 and then I kind of know, you know, where my 0:12:31.679 --> 0:12:34.280 priorities lie for where I want to go drink. And 0:12:34.320 --> 0:12:36.240 so I looked him up and always a good way 0:12:36.240 --> 0:12:40.000 to play your travels. Yeah, yeah, and borg was was 0:12:40.160 --> 0:12:43.920 pretty well rated, and so Michelle and Jen were kind 0:12:44.040 --> 0:12:48.520 enough to bring back this Icelandic stout from them. And again, 0:12:48.559 --> 0:12:50.280 I don't know how to pronounce it, so I'll just 0:12:50.320 --> 0:12:55.280 say Icelandic stout. Not surprisingly, this poor is a nice, 0:12:55.679 --> 0:12:58.720 crazy dark color, not able to see through at all, 0:12:59.000 --> 0:13:02.480 nice brown head. It smells like a stout, which is 0:13:02.520 --> 0:13:04.440 actually kind of refreshing, just you know, like I feel 0:13:04.440 --> 0:13:06.520 like lately the stops we've had are bigger in their 0:13:06.520 --> 0:13:08.600 barrel age, and so it's kind of nothing but like 0:13:08.840 --> 0:13:11.520 barrel and bourbon and oak and wood. It smells like 0:13:11.559 --> 0:13:13.760 bourbon or some of the adjuncts that they put in it, 0:13:13.800 --> 0:13:16.760 like coffee or manilla or something that smells like classic 0:13:16.760 --> 0:13:20.679 stout smell, no doubt, no doubt. It's really clean. It's 0:13:20.720 --> 0:13:23.120 like a really clean stout. Yeah, that's actually funny that 0:13:23.160 --> 0:13:26.360 we kind of mentioning that. And then it's, uh, it's 0:13:26.400 --> 0:13:29.600 got this kind of nice boozy edge to it, like 0:13:29.720 --> 0:13:32.920 because and it is eleven and a half percent alcohol, 0:13:33.160 --> 0:13:35.520 so it's a you know, it's a bigger beer man. 0:13:35.559 --> 0:13:39.280 It tastes like a classic, delicious, bigger stout. I like it. 0:13:39.280 --> 0:13:40.840 So how far we get through this podcast? I want 0:13:40.920 --> 0:13:42.960 to run this morning, and I don't think I've rehydrated 0:13:43.000 --> 0:13:45.000 since then, so I'm just gonna just drink this real 0:13:45.080 --> 0:13:47.920 fast for you might want to sip because we have 0:13:47.960 --> 0:13:49.880 a lot of information to get to. That's right, man, 0:13:49.880 --> 0:14:00.640 we do. But first let's take a quick break. Let's 0:14:00.640 --> 0:14:03.360 get onto the topic in hand, what makes a good 0:14:03.400 --> 0:14:07.440 rental property, And ultimately we're assuming that you want to 0:14:07.480 --> 0:14:09.200 be a landlord, and that you don't want to be 0:14:09.280 --> 0:14:11.320 a landlord just for a few years, that you are 0:14:11.480 --> 0:14:14.080 kind of in this forward of the long term, because 0:14:14.559 --> 0:14:17.959 very few properties make good rental properties. If you're only 0:14:18.000 --> 0:14:20.520 planning to be a landlord for a couple of years, 0:14:21.000 --> 0:14:23.760 you should really realistically be looking at a longer time 0:14:23.800 --> 0:14:27.240 horizon and also be looking at a bigger percentage to 0:14:27.240 --> 0:14:29.680 put down. We'll get into kind of the specifics of 0:14:29.680 --> 0:14:31.880 what what we think makes up a good rental property, 0:14:32.000 --> 0:14:34.160 but no going into it that if you're not in 0:14:34.200 --> 0:14:36.400 it for the long haul, and you don't have twenty 0:14:36.560 --> 0:14:39.960 or likely to put down on a property that you're 0:14:40.000 --> 0:14:42.640 buying as an investment, probably a lot of this advice 0:14:42.760 --> 0:14:45.080 you know doesn't apply to you. Yeah, Jo, that's right. 0:14:45.200 --> 0:14:48.080 And we're also gonna be talking specifically about what makes 0:14:48.480 --> 0:14:52.000 a property good, right, so like we're talking about specific houses, 0:14:52.040 --> 0:14:56.240 specific homes. We've done a previous episode about investment properties, 0:14:56.280 --> 0:14:58.240 and we kind of covered more of the general basics 0:14:58.280 --> 0:15:01.200 where we talked about everything from your personal flanances way 0:15:01.200 --> 0:15:03.200 more than just how much to put down, but all 0:15:03.240 --> 0:15:05.520 the way from if you know, should I be handy 0:15:05.640 --> 0:15:07.560 all the way through to the different things you want 0:15:07.560 --> 0:15:10.480 to consider if you are looking at investment properties. Go 0:15:10.560 --> 0:15:13.160 back and listen to that one that is episode four. 0:15:13.920 --> 0:15:16.320 You know we're gonna come back to real estate again though, dude, 0:15:16.320 --> 0:15:18.280 because we just we love it so much and there's 0:15:18.280 --> 0:15:19.920 just so much you can talk about with when it 0:15:19.960 --> 0:15:22.200 comes to it. So yeah, I was gonna say that too. 0:15:22.240 --> 0:15:23.680 I mean, I think there is a lot for us 0:15:23.720 --> 0:15:26.320 to discuss, and there are a lot of episodes that 0:15:26.440 --> 0:15:29.640 over you know, the next coming months that we will 0:15:29.680 --> 0:15:33.560 create about investment properties because for you and I, there's 0:15:33.560 --> 0:15:36.680 such an integral part of kind of our ultimate path, 0:15:36.720 --> 0:15:39.760 the financial independence. There's something that we enjoy, we see 0:15:39.840 --> 0:15:43.240 a lot of benefits from and you know, for the 0:15:43.280 --> 0:15:47.120 long haul, I think real estate is if you're smart 0:15:47.160 --> 0:15:49.360 about it, if you're buying well, if you're holding for 0:15:49.360 --> 0:15:52.240 the long term. Uh, it's just as good, if not 0:15:52.440 --> 0:15:56.080 probably even better in a lot of ways than investing in, 0:15:56.640 --> 0:15:58.960 uh the stock market over the long term. So I 0:15:59.040 --> 0:16:00.840 mean we believe that, right. That's that's why it's such 0:16:00.880 --> 0:16:03.720 a huge part of our personal finances and uh and yeah, 0:16:03.800 --> 0:16:05.760 like you said, O, our path to sort of financial 0:16:05.760 --> 0:16:08.160 independence and in the long term. That's why we want 0:16:08.160 --> 0:16:10.359 to do this is because we want to be landlords. 0:16:10.360 --> 0:16:12.000 Like we both sort of see ourselves long term being 0:16:12.120 --> 0:16:13.960 landlords and this being something that we can kind of 0:16:13.960 --> 0:16:16.600 continue to do in our ripe old age as we 0:16:16.640 --> 0:16:19.000 continue to drink beer. So that's why for us, it's 0:16:19.000 --> 0:16:21.720 important for us to get a good deal on a property. 0:16:22.040 --> 0:16:25.280 We're not in this to just collect homes. I think 0:16:25.280 --> 0:16:27.160 sometimes people think they're like, oh, I would love to 0:16:27.200 --> 0:16:30.080 have a home up in so and so city, or 0:16:30.120 --> 0:16:31.720 you know, like even on the beach or and things 0:16:31.800 --> 0:16:33.560 like that. And that's fine if you want to have 0:16:33.600 --> 0:16:36.240 that for personal reasons, uh, you know, or to also 0:16:36.320 --> 0:16:39.480 kind of parlay that into a beach house or or 0:16:39.480 --> 0:16:41.040 something else like that. But if you're looking at it 0:16:41.080 --> 0:16:44.440 from the standpoint of generating income and to have that 0:16:44.520 --> 0:16:48.680 become more and more how you are able to feed yourself. 0:16:48.800 --> 0:16:50.240 You know, like if that's how you put food on 0:16:50.240 --> 0:16:52.200 the table, That's what I'm going for, is to be 0:16:52.240 --> 0:16:54.240 able to put food on the table that way and 0:16:54.240 --> 0:16:55.880 in the you know, ultimately I would love to be 0:16:55.920 --> 0:16:59.000 able to do real estate full time. And so because 0:16:59.040 --> 0:17:00.720 of that, we want to find a good deal because 0:17:00.720 --> 0:17:02.600 obviously the better dealer that we can get, the sooner 0:17:02.640 --> 0:17:04.760 we can get to that point. Yeah, So that's definitely 0:17:04.800 --> 0:17:07.400 one of the main keys in you know what makes 0:17:07.480 --> 0:17:10.280 a good rental property finding that deal, and you know 0:17:10.720 --> 0:17:15.560 when you've spotted a deal because you have been studying 0:17:15.560 --> 0:17:18.600 the market in your area. So just like grocery shopping, 0:17:18.800 --> 0:17:22.560 like I know when a bag of spinach is a 0:17:22.560 --> 0:17:24.840 good price at aldi because I've been to Kroger and 0:17:24.840 --> 0:17:27.080 I've been to publics and I know that, you know what, 0:17:28.040 --> 0:17:29.880 for a bag of spinach at all the is pretty 0:17:29.920 --> 0:17:32.360 dang good. And so in the same way, you want 0:17:32.359 --> 0:17:35.679 to be that familiar with the real estate market in 0:17:35.720 --> 0:17:38.119 your area, and what that means really for you is 0:17:38.160 --> 0:17:41.880 to specialize in a specific part of town or two 0:17:41.960 --> 0:17:43.959 or three. You want to know the streets in that 0:17:44.040 --> 0:17:47.120 area well enough to to know when a deal hits. Yeah, 0:17:47.160 --> 0:17:49.000 if when you see an address pop up and like 0:17:49.040 --> 0:17:51.560 your MLS listening for that morning, Like there should be 0:17:51.600 --> 0:17:53.439 certain street names that like jump out to you when 0:17:53.440 --> 0:17:54.919 you when you see a name, you're like, oh, let 0:17:54.920 --> 0:17:56.040 me let me click on that one to check it 0:17:56.040 --> 0:17:58.239 out because you know that street and that should sort 0:17:58.280 --> 0:17:59.800 of trigger something for you. Once you've gotten to that 0:17:59.800 --> 0:18:01.600 stay age, you're you're well on your way to becoming 0:18:01.640 --> 0:18:04.000 a real estate nerd. And so yeah, the beginning to 0:18:04.040 --> 0:18:07.520 finding a deal is essentially you know, studying Zillo Redfin, 0:18:08.000 --> 0:18:10.679 you know the FMLS, having an an agent that that 0:18:10.760 --> 0:18:13.679 feeds you properties every day, Right, you're getting stuff into 0:18:13.680 --> 0:18:18.000 your inbox, studying those leads for months essentially. Yeah, I 0:18:18.000 --> 0:18:20.160 mean even a year. Man, There's been times when I've 0:18:20.200 --> 0:18:22.200 been like really trying to get to know neighborhood, and 0:18:22.840 --> 0:18:24.920 every morning when I check my email, that's the first 0:18:24.920 --> 0:18:26.600 one I go to just a real quick make sure 0:18:26.680 --> 0:18:28.320 that there's nothing that popped up that was a really 0:18:28.320 --> 0:18:31.320 good deal, because like you said, yeah, you've been watching 0:18:31.320 --> 0:18:34.159 it and you just need to be that familiar with it. Certainly, 0:18:34.200 --> 0:18:35.600 that's the way we approach it. I think a lot 0:18:35.640 --> 0:18:37.479