A web video blog about lifestyle design, passive income, real estate, vending machines, used cars, and eustress challenges. This episode is all about childhood play (an essential ingredient in Lifestyle Design) and includes special guest, Gary Vaynerchuk, best selling author of Crush It, founder of Vaynermedia, and award winning host of Wine Library TV.
Runtime: 33:42
A quick rundown of the episode:
Welcome to Episode 26.
We take our families to NYC.
We prep for our interview with Gary Vaynerchuk.
We challenge Gary V to a best of three: War, Ants in the Pants, and Hungry Hungry Hippos.
First ‘Ren-lympics’ Event: Office Obstacle Course
Chalk Talk – We need your help booking additional interviews with members on The List.
Wrap-Up – We feel it is imperative to keep a bit of childhood play in everything you do. Do you agree?
We attend the auction of 4 investment properties each being sold absolute
We break down our investment criteria in detail
BOOB Update – Book reports
New BOOB Challenge – Geocache
Chalk Talk – Virtual Assistant Referrals
Next Episode – We interview Adam Baker of ManVsDebt
Watch. Learn. Comment.
Numbers Breakdown:
$72,000 – Loan to Value (LTV) – House must appraise for amount
$54,000 – Loan Amount – 75% of Appraisal ($72,000) – Instant Equity $14,000 – 10% Cash Reserves, Closing Fees, Company Expenses
$40,000 – Total for Renovations and Purchase Price $17,500 – Improvement/Renovations $22,500 – Purchase Price
Monthly Rental Breakdown:
$450 – Principal and Interest payment on 20-year term at 7.25%
$150 – Taxes $ 50 – Insurance
$600 – Monthly Total $150 – Minimum Positive Monthly Cash Flow $750 – Monthly Rent Needed