Investing and property management isn’t easy in good times but with a crisis it can be downright difficult without a well-developed skill set, the community of investors to rely on, and the resources to remain on top of things.
Randy Hughes is celebrating his 50th year in business as a real estate investor. And this is not to say that he has done the same thing you learned in year one year after year for the next 49 years.
As you’re about to find out Randy stays on the cutting edge of property management technology and techniques learning not only from other experts but from his coaching students across the country.
No time or talent for tech? No problem. Randy has a solution to stay on the cutting edge without knowing anything about the tech side of things.
Even though this interview takes place during a national pandemic and provides issue-specific solutions and resources, the principles discussed can be used to protect your real estate business during any crisis, natural disaster, economic downturn, or local events that could potentially interrupt your rent collections or disrupt our real estate market.
HERE’S WHAT YOU GET IN
Managing Property In A State Of Emergency
featuring Randy Hughes
INCLUDES: Audio MP3
LENGTH: 39 Minutes
LEVEL: Beginner to Advanced
WHAT YOU’LL LEARN:
- How to collect back rent before it’s a problem.
- How to find money in a down market.
- His favorite ways to find deals on houses.
- Small business loan options for investors.
- Why he started accepting Section 8 after 40 years.
- Principles learned from other downturns.
- Seller financing and the art of a Pure Option.
- How to keep your renters up to date in a crisis.
- How Randy reduces his number one expense.
- Randy’s policy for a tenant to buy their way out of a lease.
During the 2007 housing collapse Randy tried Section 8 Housing program and learned to love it. Some of the many benefits of Section 8 housing are:
- The government pays the rent for guaranteed safety net.
- Tenants can petition section 8 for more help with rent when they have a job loss or other hard times.
- Tenants stay longer because they typically don’t become buyers.
- Section 8 tenants typically won’t have job transfers because low-level jobs aren’t worth the time and money to follow a position to another state.
- Section 8 does annual home inspections for free.
- Section 8 housing gives a 3% increase of rent every year.
During economic or natural disaster it is more important than ever to keep your mental health up and attitude in shape by exercising.
Recommended exercise books:
- Younger Next Year: Live Strong, Fit, Sexy, and Smart—Until You’re 80 and Beyond
- Younger Next Year for Women
Teach your children and prepare them for natural disasters:
- Preparedness mama: teaching kids about disasters
- Little Lives: Understanding Unstoppable Forces of Nature
- When The Ground Shakes: Physical and Emotional Health of Children
Links for texting service and online payment service.
- Call Multiplier texting service for contacting tenants
- Pay Lease for accepting online payments from tenants
Land trusts help real estate investors stay safe by protecting our right to privacy. Now more than ever your information is sold, used and abused.
“The control of information is something the elite always does, particularly in a despotic form of government. Information, knowledge, is power. If you can control information, you can control people.” – Tom Clancy
Hear why smart investors use land trusts now more than ever here!
Have a legal, tax or financial question? Ask us who's on our team at the next REIA meeting or contact us here.
For local resources and tools to help you invest check out the REIA resources listings here
RELATED COURSE Check out Randy’s LIVE Main Event™ training where he goes in-depth on advanced land trust strategies.
ABOUT RANDY HUGHES
He started life out on the wrong side of the railroad tracks. His father was an alcoholic and his mother was left to raise four children on a clerk’s wages. None of his relatives owned their own business… everyone worked for wages.
His father charged the weekly groceries so that the family would have food on the table. There was no stable income for any future education much less the current needs of the family.
No intellectual or financial direction was taught in his schools and no relative had anything to offer other than “working for the man” at an hourly wage. He was doomed for financial failure and unhappiness for the rest of his life.
GETTING STARTED IN REAL ESTATE
Randy knew that there must be a better way to live. He decided to break the cycle of poverty in his family genes. Education came first. Randy graduated from Eastern Illinois University and began buying single family homes for rental while in college. After college, Randy tried many different types of businesses, but always came back to the Single Family Home as the ideal investment. Since purchasing his first rental house in 1969, he hasn’t looked back!
Today, Randy has purchased over 200 houses. He has lived the life of having nothing and will not let that happen again. Randy’s primary goal now is to teach others how to break the cycle of poverty. Randy teaches real estate investment courses throughout the United States.
Randy has been a licensed Continuing Education Instructor for the Illinois Association of Realtors for 20 years and has written extensively for local and national real estate publications and taught real estate classes at the University of Illinois, Parkland College and Elgin Community College. Randy’s most popular publication is his Land Trust Made Simple home study course that includes real estate coaching.
Our proven ASSOCIATION EQUATION for success in real estate TRAINING + COMMUNITY + RESOURCES is yours for unlimited access to keep forever!