If you've been following on social media, you'll know we just finished work on our very first house flip! Overall, our experience has been a very positive one and we took several lessons away from the process. Here are the five lessons I took away from that first flip. 1. Run your numbers. Carefully. Buying a home for yourself usually carries a lot...
If you're thinking of buying a home in the near future but aren't quite ready to take the plunge, here are 3 action steps you can take TODAY to set yourself up for success. Action Step 1: Determine Your "Must-Haves" Even if you aren't quite ready to buy today, you can get yourself started off on the right foot by determining what is important in...
Building a brand new home can be extremely exciting. It puts you in the designer's chair and allows you to customize a home to meet your exact needs and tastes. However, many buyers don't realize just how complicated and time-consuming the process can be. To help you get started off on the right foot, I've compiled 20 questions that I recommend asking before you start...
Recently, I was invited by my favorite trio of Tims to take the mic for the Your Financial Pharmacist podcast, episode 160. In this episode, I interview two pharmacists and first-time homebuyers about their experience using the Concierge Service. Check it out HERE Dr. Shelby Bennett is a Clinical Assistant Professor at the University of Nebraska Medical Center College of Pharmacy. Originally from rural northwest...
For this post, we've brought back my lovely wife Kristen, the Real Estate Rookie! She's put together a great look at what it takes to get you and your spouse on the same page when it comes to real estate investing. One of the most common questions Nate gets asked is: “How did you get your wife on board with real estate investing?” So let...
Most people want to own rental property as a way to provide them with passive income. But with tenant screenings, lease agreements, marketing property, fair housing regulations, repair requests, evictions… being a landlord doesn’t sound all that passive! Whether your portfolio is expanding, you’re investing out-of-state, or you simply don’t want to deal with the day-to-day headaches, finding a good property manager can put a...
The question of when to buy and when to rent has always been a difficult puzzle to solve. The COVID-19 pandemic has brought new attention to this quandary as many first-time homebuyers worry about what the housing market will look like in months and years to come. But even without a global pandemic, the question of renting vs buying has rarely had a simple answer...
One of the most important steps to buying an investment property is assessing its cash flow. The question of what that actually looks like comes up with new investors all the time. In this tutorial, I’ll walk you through an example of how to use a listing to see if a rental property will be cash-flow positive.
Mortgage rates have recently fallen to record lows and have dipped below 3% for the first time in 50 years. Many consumers are taking advantage by purchasing a home or refinancing their existing mortgage. Refinancing can be a great way to lower your monthly bill or even take years off your payoff period. Here are 6 things you need to consider before refinancing your mortgage....
The Following article was written by Kristine Bertrand, a real estate agent with Berkshire Hathaway and a licensed appraiser in the state of Ohio. As an appraiser, she offers affordable, accurate, and prompt appraisals for residential properties throughout Ohio. This differs from the opinion of value given by a real estate agent. Banks often order appraisals to determine the current market value of a home....
This week we're starting a brand new series hosted by my all-time favorite person, my wife Kristen! Join her as she chronicles our real estate life from the perspective of someone who is NOT a real estate expert. Whether it be questions from my work as an agent or musing from our own hunt for an investment property, I'm hoping you can learn alongside her...
The following post is written by a pharmacist and investor from North Carolina. He asked to be identified only as a "PharmD working on Financial Freedom". He and his wife started investing in real estate just one year ago and now own two properties in the Carolinas. Together, these properties put nearly $600 in their pockets each month! Taking the First Step. We were finally...
Six years and a six-figure salary. Pharmacists are fortunate to graduate and make great salaries right out of the gate. Like it or not, this is one of the reasons many students choose to pursue a career in pharmacy to begin with. Unfortunately, that high floor comes with a low ceiling. Today’s market is seeing reduced hours, pay increase freezes, and limited overtime opportunities. Combine...
As many of you have noticed, it has been a while since my last post. Several months in fact… First, let me apologize, as it certainly wasn’t my intention. Second, let me reassure you… I’m back! And I’d dare to say better than ever! To kick off our new season of all thing real estate, I think it's important to share where I’ve been and...
The following post was written by Tanh Truong, PharmD. Tanh graduated from the University of Cincinnati in 2017 and works for Kroger as a retail pharmacist. He recently acquired a two-family rental property in the suburbs of downtown Cinci that cashflows $400 per month and represents a 20% COC return! This is his story: “You must achieve good grades; you must attend a good university;...
Real Estate Month may be over at Your Financial Pharmacist, but we were able to put out some great content for all our followers. I wanted to be sure to share a post I wrote in collaboration with Tim Church for YFP. We get a lot of questions that revolve around how someone can buy a home despite having nagging student loans. This post seeks...
As Your Financial Pharmacist wraps up with Real Estate month, I join them one last time for a rapid-fire session of Q&A. Always a pleasure being on the show!
This month, I've partnered up with my favorite Trio of Tims, the crew over at Your Financial Pharmacist! While much of what we are doing lives on the YFP site I wanted to be sure to share some of the great content we've created directly with all of you! First up, we put together a pair of podcasts all about home buying. If you are...
Hi everyone! I've had a crazy start to the year and just closed on my first deal as an agent for 2018. I also got a great opportunity to sit down with Tim and Tim of Your Financial Pharmacist to record a pair of podcasts designed for first-time homebuyers. These 10 tips are just some of the things I've learned buying my own home and...
On December 22nd, President Trump signed the “Tax Cuts and Jobs Act” into law. And while both sides of the political aisle agree US tax laws should be simpler, the changes can feel like anything but. Here are 10 things you need to be aware of so you can have an educated discussion with your tax professional. Individual income tax brackets have been adjusted....
When most people think of residency, they usually think of long hours, tough preceptors, and meager salaries. Unfortunately, all of these factors stack the deck against anyone looking to get into real estate investing. I certainly wasn’t considering investing in real estate during my residency. It really wasn’t even on my radar. I was just trying to get by – academically and financially. Knowing...
This article was written by Mike Blecker, PharmD, 2009 graduate from Long Island University in Brooklyn, NY. He completed a PGY-1 hospital pharmacy residency (general practice) in Chicago from 2009-2010. Following residency, he moved to Philadelphia with his wife Krista for work as an evening shift Clinical Pharmacist at Hospital of the University of Pennsylvania where he still works and resides. He became board certified...
This article was written by Aaron Howell, a 2000 graduate of West Virginia University School of Pharmacy. Aaron lives in Charlottesville, Virginia with his wife Megan and their dog Lucy. Aaron started working with Kroger as a technician his freshman year of college and signed on as a staff pharmacist after graduation. In 2008, he left Kroger for his current job as manager at Walmart...
Welcome to the final part of our series on mortgage financing. Join me as we separate myth from fact and explore whats available through government-backed loan programs If you haven’t already read Part 1: Conventional Loans, or part 1.5: Why you should care, be sure to check those out as well. The focus of this article will be on the government-backed (orange) side of...
Most people probably don’t find mortgage financing to be a particularly riveting topic. However, as I finish up part 2 of this short series, I want to illustrate why educating yourself (even briefly) on the topic can be vital to your home buying process. When my wife and I were looking for our first home we had a whole wish list of things we...
A mortgage is far and away the most common way to finance a home. By definition, a mortgage is a security instrument where the borrower pledges property to a lender as collateral for the debt. The way in which you secure that loan and subsequently pay it back is dictated by the type of mortgage you have. There are countless types of mortgages available and...
A pre-approval letter from the bank is not the same thing as how much house you can afford. As pharmacists we are lucky to make great salaries right out of school. However, this dramatic increase in income can fool us into thinking we can take on a lot more debt than we probably should. Hopefully the illustration below can help you set your own budget...
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