The recession will be worse than anyone has ever seen | Morris Invest

The recession will be worse than anyone has ever seen | Morris Invest

186,807 View





đź“ž Ready to buy your first fully done for you rental property? Book a free call with us: https://morrisinvest.com

âť“Ask me a 30-second question at https://morrisinvest.com/clayton

đź“ş Watch Next: How to Create Your Personalized Path to Financial Freedom: https://bit.ly/392kAsB

🏠 What's Your Freedom Number? Download our free PDF to help you determine how many rental properties you would need to achieve financial freedom: https://morrisinvest.com/freedom

đź’µ Ready to get your finances in order? Download the FREE 90-Day Financial Empowerment Bootcamp: https://morrisinvest.com/bootcamp

🎓 Want to learn more about creating your individualized plan to wealth with a proven system? Join us in Financial Freedom Academy: https://financialfreedomacademy.com

👨🏻‍💻 Sign Up for My Webinar: https://morrisinvest.com/webinar
-----------------
Tips for Managing Stress as a Real Estate Investor
There are many different reasons why you might be dealing with stress as an investor. Without knowing the specifics of your stressors, here is some general advice I can give:

1. Don’t get emotional about real estate investing. Let the numbers guide you, and don’t get caught up with the allure of specific properties.
2. Outsource where you can. If you think you have too much on your plate, consider hiring help. Whether it be a bookkeeper or a property manager, there’s probably at least one role in your business you can outsource.
3. Allow your team to handle things. I’m a big proponent of letting my team do their jobs independently. I don’t need to be asked every time a doorknob needs to be replaced. You can give your property manager permission to take care of tasks under a certain dollar amount.
4. I also highly recommend checking out the Getting Things Done Method, as well as the book Atomic Habits.

What a DSCR Loan Is
I’ve personally never used a DSCR loan, but in some ways, it reminds me of a non-recourse loan. A DSCR loan, or debt service coverage ratio loan, is based on the potential cash flow of a property. Since I’ve never used this loan type, I can’t really say if it’s worth it or not. My advice would be to make sure you run the numbers. You can likely expect a higher interest rate with DSCR loan, so make sure you pursue all of your options before making a commitment.

The Truth About Using Two Financial Products on an Investment
If you’re considering using a HELOC to make a down payment on a rental property, you might be wondering how this can possibly work since you’ll also a need a mortgage on the remaining balance. It’s true that using two financial products will set you up to have double the payments. This may or may not be the right choice for you, and it will honestly depend on the income from your rental property. If possible, you should be using your rental income to get these loans paid down quickly so you can cash flow sooner.

Getting Things Done Method: https://gettingthingsdone.com/

Atomic Habits by James Clear: https://amzn.to/3eXMZ5V

The Millionaire Real Estate Investor by Gary Keller: https://amzn.to/2yVVMl8
-----------------
#morrisinvest #claytonmorris #realestateinvesting

About Clayton Morris:
As a financial news host and real estate investor, Clayton Morris believes that everyone has the right and the ability to achieve financial freedom – and works to help others to know how to do so. Clayton founded Morris Invest that builds portfolios for their clients and guides them through the buying process, ensuring cash-flowing investments. In his podcast, Investing in Real Estate with Clayton Morris, he offers specific and actionable ways to have financial security and to build a meaningful life. Clayton Morris co-hosts Redacted with his wife, Natali, bringing you news you won’t hear on major networks.

Website- https://morrisinvest.com/
LinkedIn - https://www.linkedin.com/company/morr...
Twitter - https://twitter.com/Morris__Invest
Facebook - https://www.facebook.com/MorrisInvest
-----------------
DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.

AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.