Episode 26 - How to Deal with Raising Interest Rates
Interest rates are rising, and they're rising faster than what you and I probably expected. Higher interest means it costs more money to get money, and as an investor, you can't buy as much real estate. So what are your options?
In this episode, Sam and Lucas are excited to show you four ways to still make a good cash flow on your property, even with rising interest rates. So, listen up, take notes, and learn how to make more money during these crazy times.
“If you're a smart investor and you're a business owner, there's always opportunities for you to take advantage of, or things you can sidestep, or you know, just things that can help you mitigate risks.”- Sam Primm
“Try not to worry about things that you can't control. Interest rates are one of those things. So focus on the stuff you can control, and your mindset will be a lot better. Your business will be a lot better as well.”- Lucas Walls
WHAT’s IN THIS EPISODE?
- The effects of rising interest rates and inflation in the real estate market
- Long-term mindset - When buying a property, focus on the long-term game
- Rental rates increase - Rental rates are rising faster than interest rates, so there's lots of opportunity to make more money.
- Buy Deeper - Be cautious and stick to quality deals
- Shop Around - If your bank charges a higher interest rate, it's time to look at what other banks are offering (but you still have to consider other factors like the flexibility of terms, the relationships you've built, etc.)
- Random Thought of the Day: Forward/ Back - Lips
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