More Money Podcast - 098 How to Dive Into Real Estate Investing - Kathy Fettke, Real Estate Investing Expert & Author

Episode Date: March 22, 2017

Ever thought about diving into real estate investing? All your questions are guaranteed to be answered by Real Wealth Network co-founder, real estate expert and author Kathy Fettke in this episode. I ask her almost every question under the sun including how to find a downpayment, how to choose the right property and whether it's smarter to become a landlord or a house flipper. If you want to become more knowledgeable about real estate investing, you need to listen to this episode. Long description: Ever thought about diving into the real estate investing world? I always have, which is why it was such a treat to talk to real estate expert, author and Real Wealth Network co-founder Kathy Fettke. Finally, I had someone to ask my many real estate investing questions to (and if you listen to the episode, you'll know I had a ton!). The biggest takeaways I got from my interview with Kathy was that the real investing game is largely about risk, trust and knowing when to say "yes" or "no". There are so many real investing programs out there that will try to sell you a dream that isn't actually achievable, spew outdated information or charge you 5-figures for access to their investing "secrets". Don't buy into this! And Kathy would agree. Real estate investing is not about getting rich quick, it's a long game. It means buying the right property at the right time, then renting it out, holding onto it for a number of years, then choosing to sell it at the right time. She even suggests you'll make more money by becoming a landlord than trying to flip a property. Flipping may seem like the trendy thing to do with so many shows on HGTV dedicated to the practice, but in the end you won't make as much as renting out your place, and getting those renters to essentially pay your mortgage. I know I still have a lot to learn before my husband and I decide to buy our first investment property, but I'm glad many of my questions about how to get started are now answered! Learn More About Kathy How & Why She Started the Real Wealth Network Kathy's Top Podcast Episodes Fastest Appreciating Real Estate Markets in the U.S. What Type of Commercial Real Estate Will Thrive in 2017 How Election Results Are Affecting Home Buyers and Sellers? Check Out Kathy's Book Retire Rich with Rentals by Kathy Fettke For more podcast episodes, check out the podcast page. Show notes: jessicamoorhouse.com/98 Learn more about your ad choices. Visit megaphone.fm/adchoices

Hello, and welcome to Episode 98. I am your host, Jessica Morehouse. Welcome to the MoMoney Podcast. Thanks for joining me for another episode. I'm excited for this episode because this is a topic that I want to know more about. I want to be that person that's like, oh yeah, don't worry about me. I have passive income flowing from all of my real estate ventures. Maybe I've just watched a lot of HGTV and I got sucked in and I drank the Kool-Aid, whatever it is. Me and my husband have always had dreams of owning a few properties over the years. So when we're kind of in retirement, we have the kind of passive income flowing. Right now we own our townhouse, which we just bought this summer, but it's definitely something that we've always talked about that we want to learn more about, be

completely educated about this huge investment of owning other properties. So I'm so glad to be talking to my next guest, Kathy Fetke. She's a real estate expert. She is the co-founder of Real Wealth Network, which you can find out more information about at realwealthnetwork.com. She's also a podcast host herself. She hosts The Real Wealth Show. And if that wasn't enough, she's the author of the number one bestseller, Retire Rich with Rental. So we are going to be talking about real estate investing in this episode, and I am super pumped about it. But before I get to that interview, I want to say thanks Lowest Rates for sponsoring this episode of the Mo Money Podcast. In case you don't know, Lowest Rates is the site you need to go to to find the lowest rates in Canada for your mortgage,

auto insurance, life insurance, and more just like that. Super simple and awesome website. I've done it myself to find the best quote for my life insurance. So I highly recommend you check them out too at lowestrates.ca. Once again, that's lowestrates.ca. All right, let's get to that interview. Yeah? Yeah. Thanks, Kathy, for joining me on the show. I'm excited to chat real estate with you. Likewise. I could talk about it all day. No, I'm excited because it's absolutely something that I'm personally interested in. And me and my husband have chatted a lot about our plans to eventually own several properties and have passive income. We have lots of friends that are currently doing it and have been doing it for eight or longer years. And they're doing quite well because of it. So

we definitely kind of want to see how does one person get into that and what's everything you need to know. But before we kind of jump into all of the specifics, I'd love to learn a bit more about you because you have a very interesting and diverse background. Thanks. Yeah. I've always been an entrepreneur. I think when I was, oh, you know, just, well, first of all, I was in the broadcast world. I got my degree in broadcasting and worked at CNN and Fox News and ABC and loved that. But I also wanted to be an actress. And I thought the best way I could do that was by being an agent and submitting myself. So I did that. But I also found that there was just a lot of people in the acting and modeling world that were ripping other people off, like promising they could be stars and that giving really crappy education or, you know,

not really having the connections or not having very good education. And so back then, just in my early 20s, I thought, well, gee, this isn't holding the bar very high. I can do better. And so I started an agency and we offered the best training by casting directors. And it really wasn't that hard to offer quality. I was able to book my people into, you know, mega movies and stuff. And, and so that's kind of what happened with real estate is I, I found out the same thing. There were so many people just ripping people off

and it's like, you don't, you don't need to do that. Yeah. Well, that's what I kind of wanted to talk about too. Cause you know, I'm very interested in real estate investing and I know lots of people have done well. However, there are a lot of people that are kind of selling the dream and basically just, you find out in the news or the newspaper or whatever that, you know, so-and-so lost their, you know, life savings because they put their trust in this person who said that they were going to help them flip a house. And, you know, there's a lot of scam artists out there. And so that's, yeah, I'm interested to kind of know what your kind of take on that or experience like in your line of work. Have you come across any of these kind of scammy, you know, people that are trying to kind of sell the dream, but really, they're just out to kind of steal your money and

move to the next town? All the time. Yeah, all the time. I That's so sad. And that's why I call my company Real Wealth Network because, first of all, it started off with a radio show I had because, you know, from my broadcast background, I kept it at ABC. And then I wasn't doing real estate. I was just, you know, I was just kind of doing whatever I felt. I was trying to be Oprah. And then I got horribly scary news that my husband came home one day with cancer and was told he had six months to live. This was back in 2002. And fortunately, the doctor was wrong and he's healthy today. But back then, we didn't know. And so I changed the format of my radio show to be like, uh, you know, basically like the title of your show, like show me the money. Like I need

to figure out how to make some money and make it fast. And, and so, um, you know, that that's what I did. And I started the real wealth show and I thought I only want to interview people who are the real deal, uh, because I knew there were so many fakesters out there. I mean, they would sell these boot camps and the information they were selling for $20,000, $30,000 or $10,000 or whatever was outdated and really not applicable in California where we were from. And it was just one of those things where people would buy it, never use it, and then never get started. Yeah, exactly. Yeah. So I started The Real Wealth Show, which then turned into The Real Wealth Network, which became live events where people could come and learn from people who were really doing the

deals, the real deal. And that's kind of what we're still doing today. So how did you yourself get into real estate investing? Was it something that you always kind of knew about? Or at what point in your life? Do you like? Yeah, I want to try to do this myself. Well, kind of around all the time that that I was talking about when I was working in the news and had my radio show and rich was actually he just written his book and he was traveling around the country on TV stations and radio stations promoting it. Everything was going great.

And back then, I really got in through a stressful situation with my dad. That's oftentimes how it happens. He had invested in apartments, but he invested as a group. And boy, if you invest with with others you need to really check the background of that person like we talked about because nowadays it's so easy I mean we have a very very very thorough due diligence checklist that includes like a private investigator looking at people's backgrounds because I think I have just many shysters. I mean, I read somewhere that one in 25 Americans is a sociopath. And I tell you, most of them come right to real estate.

They can lie to your face. It's amazing. So, you know, we just kind of put those people out of business because we would bring in, you know, real people to our events who could tell us where the deals are. And, you know, California is overpriced. You need to sell now.

And Texas is the opportunity by there. And, um, you can't even do these foreclosure deals in California. So don't try and don't buy that bootcamp. And we just brought in experts who would really, um, make the process easier for us.

And so how, how did you structure this network? Cause I was just looking on your website and there's a lot of people involved. And what I do like is it does seem like you're more focused on, yes, the education, but also creating a community so people can actually learn from other people in the network and kind of grow their business that way. But how, I'm just curious from the point of like, you know, where to invest. That's always kind of the first thing people I think think about. They're like, what's a good place? I don't want to pick the wrong place. And you always kind of hear from friends like, oh, no, no, no, this town, this is where you want to invest. Like how,

like where do you start with that? And how do you know? What do your experts say? Right. Well, back, you know, back then when, you know, I had just started things and like you said, how did you get into it? My, my dad was in that apartment and they sold it. They weren't the most ethical people. They sold the building, didn't tell my dad. He would have faced hundreds of thousands of dollars in taxes and he was just about to retire and he wouldn't have been able to. But there is this kind of tax loop that I guess Donald Trump is sharing with the world now, the 1031 exchange. And so it would give him 45 days to find a replacement property and then he wouldn't have to pay those taxes yet. But the people didn't even give him the courtesy to call him. They just sent a letter and he was on vacation. And by the time he got the letter, he had just a few days left.

You only get 45 days. Oh, my gosh. And so he called me in a panic and I said, well, dad, I mean, what are you panicked about? You just got to find a property? And he's like, yeah. And I said, I'll find you one. I just got married and we'll live in it. Yeah.

Yeah. I'm like, that's easy. So the first house I looked at, I was like, this is it. And we bought it and it saved my dad all that tax money. And we got into our first house. And the way the 1031 exchange works is when my dad passed away, that property was inherited to us and the taxes were completely waived. Wow. Interesting. It seems like there's a lot to like investing in property isn't just about buying a place, fixing it up and then finding people to rent. It seems like there are quite a few things that you need to know like that, you know, tax thing. I never heard of that before. Like, so, you know, I feel like it is quite complex and that probably scares some people away because it is one of those things where it's like if it is so lucrative and I do know people who are doing very well from it, why isn't everyone doing it? Because it does take a little risk.

Any investment involves risk and most people aren't willing to do it and also they're not really taught. You know, for me, it was a stressful situation where, you know, we got this bad news and I turned my radio show into a show to understand this stuff. Really, it was like, I got to understand this. And so I just started interviewing people week after week trying to understand, you know, how do you build wealth and passive income? I wanted to still be home with my kids. I didn't want a full-time job. Not overwhelm yourself, not lose money. I just started doing segments on my show to really simplify all of it. That's what I do still today because there is a lot of information,

but it's not like Wall Street where you could sit with your financial planner and just cross your eyes. Who knows what they're talking about? You can't possibly do proper due diligence on the companies that you're investing in in Wall Street. But with real estate, it's actually not that hard. Kind of going back to some of the things you asked earlier. I mean, sure, there's massive tax benefits that you can take and asset protection techniques and things you need to know. But, you know, we've got that on our website simplified for you.

And, you know, at the end of the day, you just need to hire a really good CPA, you know, an asset protection attorney, and they do it for you. You know, so that's how you make it easy. It's not that expensive. But, you know, back in, you know, like I said, in 2006, I was like, you know, something is terribly wrong here. Terribly wrong. Somebody shouldn't be able to just walk into a bank, sign some paperwork and walk out with a house. You know, this isn't normal. And especially when, you know, there's no way they can actually afford that payment. It was so obvious.

I was a mortgage broker at the time. I'm like, this is nuts. And so fortunately, the experts on my show taught me the things to look for to show you whether you're in a good market or not. And they were able to show me that California, based on the fundamentals, was completely out of whack at that time. The average person couldn't possibly afford the average home and jobs were leaving because the average employer couldn't possibly pay the

average employee what they needed to survive. So what happens is the natural migration of companies moving and people moving out of the high-priced markets. So in 2006, they were leaving California and they were going to Texas because Texas had a completely different viewpoint on business. They were trying to draw business. They weren't trying to penalize it. They were giving tax credits and they still are. So for the past 10 years, Texas has had the number one job growth in the country, which means they've had the number one population growth, which means they've had the most migration and no way that builders can keep up with it all. So that's why we've seen prices go up consistently there

and cash flows. And it's just been a really great place to invest. So the people I interviewed on my show could recognize that and teach me and teach my audience that California doesn't make sense, but you can sell and 1031 exchange it, use this little tax benefit I told you about earlier, where you can sell your property and not pay tax on that gain if you buy replacement property. So I was showing people you can sell this overpriced California

property and exchange a tax deferred for Texas. So you could sell one property in California and buy like six or seven for the same amount in Texas. Wow. Quintuple your cash flow and then avoid the coming crash when prices are overpriced. So that's where we're at again today. We're exactly in the same place as 2006. It's 10 years later. California is way overpriced. It's going to –ues are already softening. So we're telling people,

sell, sell, sell, sell, and get into markets where the jobs are going and the people are going. That's so interesting. We've talked a lot about some of the benefits. Obviously, the benefits is setting yourself up for success and success and passive income. So you can hopefully, you know, maybe leave your job or retire earlier and everything like that. But what are some of the downsides or things that, you know, could go wrong or things that you need to be aware of? Because it is, you know, you do need to have a risk tolerance, a higher risk tolerance, because, you know, things can go wrong. We always hear about those. So what are some of the things that people need to be aware of before just jumping into something like this? I mean, it is a big investment in buying property.

Well, I think you just nailed it. Never just jump in to anything that's, you know, I live in Malibu, so I'm around a lot of rich people. And let's just face it, and like my friend's husband invested a million dollars in Apple and, you know, didn't know a thing about stocks, just didn't know a thing. And of course, it went down 10% and then it went up and down. It's like, you don't want to gamble like that. You need to know what to look for. And so it's the same in real estate. What are the risks? Well, it's like we talked about earlier. Don't trust people. Really just, I mean, I can't emphasize that enough. Most of us are really good people.

We don't lie. We don't cheat. But that is not the case. And so where's a wolf going to look for his next prey? You know, he's going to look for a sweet little bunny rabbit. And most people are sweet. And so, you know, they pride themselves on that. But that's exactly what a wolf is looking for.

So don't trust people. Trust if you want to, but verify always. And there's so many ways to do that. Never, ever trust a seller for their word. They're just trying to sell the property. Same with an agent. They're trying to make commission. This is not where you get your advice. And yet it's where most people for their word. They're just trying to sell the property. The same with an agent. They're trying to make commission. This is not where you get your advice. And yet it's where most people get their advice. So you want to always get an inspection on the property from

a third party inspector who's not connected to either the seller or the agent. You want to get a third party appraisal that's not connected to the seller, the agent, these two services right there will help you tremendously. And it's interesting you mentioned that just because so me and my husband recently bought a place, but a couple of years back, we were looking for a house and then we decided to delay. But we found that when we were looking with a realtor and we're like, oh, we need to get a home inspection, who should we, you know, we're talking, me and my husband with each other, like, who should we, you know, contact for that? She's like, oh, I have a recommendation. Of course they will. And

sometimes when you feel like, you know, the pressure's on, we need one like tomorrow, you will go with whoever they recommend because A, you don't know anyone and you don't have the time to really look. So I guess in terms of like, you know, finding a property to invest in, you'll kind of get all those people on your side beforehand. So you won't be stuck in a situation where you have to use the recommendation from the realtor who obviously they, you know, help each other out. Yeah. There's so many licensed people out there and organizations that help you. It's not hard these days to find a good home inspector. So it just takes, you know, maybe a half an hour, but worth every penny.

So, but you also have to be careful of home inspectors because sometimes they might want to tell you there's a lot of things wrong with the house so that they can come in and do the work for you. So you just have to be aware. And like I said, I've always been a trusting person until I got into this industry. And I cannot tell you how many nice people who tried to be my friend and would take me to dinner and send me birthday gifts and stuff were also the same people who could look me in the eye and try to sell me a piece of garbage. Wow. Yeah.

Yeah. I guess you have to have, it sounds like you have to have a fairly tough skin to be in this kind of line of work. You just need to, you know, you need to know how to do your due diligence and there's nothing wrong with still being friendly with a sociopath, you know, you just need to know how to do your own diligence. And the most important thing is that new investors think other people know a lot more than them. And so they will just trust blindly because that person says, there's a lot of power in trusting yourself and also getting the education you need, which again, we, we have just a tremendous amount of real basic stuff that you can look at on our website, checklists and videos and, and just things

to look out for. Because I remember thinking it was so overwhelming when I started and now to me, it's like not at all, but it just takes time. And a lot of people will start listening to my podcast or coming to our events and, you know, just trying to soak in the information. And then a year later, they're like, yeah, I'm ready now. I get it now, you know? One question I have. So do you kind of more teach people about how to buy property and then finding a renter or do you also do like the flipping side? So finding a property and then making it look better and then selling it for hopefully a profit? Well, we do a little bit of both, but I am a passive investor.

Here's the thing. Don't do anything you don't know how to do and that includes flipping houses if you are a contractor when you have extra time and you understand values you can make a ton of money flipping it's a it's a big flip market today and people are making lots of money but people are losing money too and most people lose on their first couple deals if they don't have someone helping them because they pay too much or they over improve or they don't know how to manage the contractors. It's a huge job. I don't have time to do it.

Most people have jobs and families and they want to work out and they want to go to church or whatever. They have stuff to do. So, you know, you can't take on another full-time job even if you go to a boot camp thing, they'll say, oh, sure, you can do this on the side. You can't. So, you know, I watched my own family members try to buy the house next door and fix it up and they lost everything. They took money out in a refinance to try to buy it and fix it and lost both houses. So you just, you got to be careful. Now, what I've done, because I like passive investing, I don't want to do the work, I don't have time to do the work, and I'm not good at it. And I don't know anything about fixing anything. So what we've done is created a network

of people who do. So for example, Texas is still a good market. But we've also found other markets today, where there's even better cash flow, like Pittsburgh, Pennsylvania, still a good market, but we've also found other markets today where there's even better cash flow like Pittsburgh or Pennsylvania or Cleveland, Ohio. These are really strong markets right now where you can still get great deals. In those markets, we've gone in and found really good contractors, really good agents and property managers to make kind of almost like a Yelp, you know, type situation where these guys don't want a bad review, you know, because we were so many people. And, and so we have that set up. So we actually do, do flips that way in Cleveland and, and it's all passive. We let our teams out there do it all, but we found that there's actually more money in rental. Yeah. I think so because there's so many

factors to look at with real estate and people who don't know those different factors don't find out till it's too late. And that's why you want to come to an organization like mine where you could tell me one scenario and I will tell you exactly what you need to know about it from many different perspectives. So with flipping, what you need to know about that from many different perspectives. So with flipping, what you need to know about that is that it's taxed like ordinary income. So if you already make some decent money, you know, you're going to get taxed on that profit pretty heavily. Whereas, okay, so let's say on my flips in Cleveland, I make 26%, but I'm in a high tax bracket. I'm only making 13%.

Whereas if I bought a rental property in Cleveland and financed it, I'd be making 20% to 25%. And that's all in the unbelievable tax incentives I get from that you know, if I went, the 13% I got from the flip is just not that exciting, you know? Yeah. One question I'm curious about is, you know, say, you know, you're ready and you buy a property and your plan is to rent it out. What is, and maybe this is, you know, it's different for every situation, but how long are you supposed to hang on to it? Are you supposed to, you know, absolutely hang on to it for five to 10 years? Then if you want to sell, you know, or are you waiting until the market improves and then it's a good time to sell? Like how long are you supposed to hang on to this?

It just depends on your goals. You know, one, one example I put in my book, I wrote a book called retire rich with Rentals. It's on Amazon. One of the stories I have on there is my mom's pastor. And here's a guy on a pastor's salary. I don't imagine it was very much. It was like, you know, up in Northern California in the boonies. And like, I don't imagine he made a lot of money.

And I'm pretty sure he didn't get much of a retirement. But by accident, he and his wife had bought a house and they ended up getting a job at a different church. And it was a time when they weren't able to sell their house. So they kept their house, rented it out and bought a different house near the new job. And we're like, wow, that was easy. The house rented and it's covering all the costs and there's a little extra cash flow. So they just decided to do

that every year till they, you know, and then they were young when they started. So let's say 30, by the time they were 40, they had 10 houses. He was putting stuff aside. And, and so by the time he was 60, um, he had paid off all 10 mortgages cause they're 30 year mortgages, right? Yeah. So by the time, you know, by the time he was 60, 65, 70, he had 10 homes in Northern California paid off by the tenants. And, you know, my mom, you know, actually rented one of his houses and paid $1,500 a month. Now that's on, that's one of 10, right? And, and pretty low in California, believe it or not. It's like the only thing that's good. Yeah, no kidding. But now during the downturn of 2009, those properties

went from probably being worth $300,000 each to maybe $150,000 each. They lost a lot of value. But you know what? He wasn't selling them. He was renting them and they stayed rented and those rents increased because so many people lost their homes, they were forced to rent. So here's a guy who was a pastor, was retired on these 10 homes, which basically 150,000 each, that's a million five of a portfolio that's kicking out around $120,000 a year net after all expenses. And every year getting a raise as rents go up. So he didn't care. He wasn't in it for the value of the property.

He was in it for the cash flow. I feel like I could talk to you about real estate forever. I have so many questions. So I'm only going to ask you about real estate forever. I have so many questions. So I'm only going to ask you a few more and then I'll wrap it up. So the first one that just came to my mind is one thing that I'm always kind of like, can I afford it? Okay. Well, this is kind of a two-parter. So the first part is when investing in property, are you always supposed to have a good sizable down payment for each property that you buy? Or I've been talking to some people I know and what they've done is they

did that for maybe one or two properties, but then they kind of use their mortgages as, I'm not sure what the terminology is, but they don't necessarily have a big chunk of cash for every property to have a down payment on. Or the down payment, yeah. Well, what a lot of people don't know is if you have good credit and some money and low debt, you can go into a conventional lender, just, you know, maybe not your local bank, but, you know, we have a whole list of lenders who focus on investment property. And you can get up to 10 loans. People don't realize that on investment property. You don't just get stuck with one. And the funny thing is if you buy a $100,000 home, you're maybe putting 20% down and you're borrowing $80,000. That's like a $400

payment. And you get to include the income. So a lot of people don't realize they can qualify to buy investment property, maybe even more so than they can qualify for their primary. And they could probably qualify for 10 investment properties because you can count all the income and do that when they couldn't maybe qualify for one primary. It's an interesting thing. So now it's harder today to buy an investment property with no money down. Yeah.

But if you can buy that first property and put 20% down, but you improve it or it's an area where it's rapidly appreciating, well, then you just refinance, take your cash out and go do it again. So that's how people do it without having to use a lot of their own money. Okay. And the second question I have is, how much does it really cost to kind of hold and maintain a property? If you just have renters in there and maybe you want to be a bit more hands-off and not be the property manager yourself and go fix when the pipe bursts or something, what kind of expenses should people expect when they are holding onto a property

that they're renting? Well, it really depends on the condition of the property and the age of the property. So if you bought a dump, you're going to, it's like buying an old car. You're going to be paying for it all the time. You know, I prefer new cars. Um, so that's, that's what we do with, with properties is, um, we work with teams nationwide who find the property, fix them up to like brand new condition and put a tenant in place and make it a totally turnkey investment. Now we have a, like again, a 20, you know, 20 question checklist that, that makes sure that the renovation has been done to our standards. And so if you have a new roof and you have new plumbing and you have new electrical,

you're just not going to get nickel and dime. So it's a lot easier to estimate your expenses. But if you just buy an old house that was a foreclosure and you have to replace those things, it's a little bit harder to gauge your cost. So, you know, you just, again, just make sure you know the condition of the property. And if you're going to have to replace a water heater, you need to add that in and calculate that. That's why, like I said, we are busy selling investors brand new homes or homes that have been updated to like new so that you're not guessing. But even so, if the property is in good condition, you should set aside just for emergency about – it varies, but usually people say between 5% and 7% of rent. Just in case. And also, I guess the other thing is, yeah, something could break, but also what if those tenants leave and you can't find a new tenant right away? That's always kind of, I think,

a fear that lots of people have. What if I'm stuck with this property and then I'm paying two mortgages? You'll have no problem with that if you buy right. So, you know, if you buy in a good, strong, solid neighborhood with good schools and near jobs and not in an area where there's more property than people, you know, then you don't have to worry about that. Like the areas, like Chicago, there's certain neighborhoods in Chicago that we like because you can get properties there for like $150,000 or less. But, you know, it's the third largest city in the country. And just an enormous pool of people to choose from.

It's like a 10 million, you know, so if 50% are renters, that's like 5 million people, you know. Yeah. As long as you bought in the right neighborhood and have a good, attractive house, then you should be fine. The only times we see people go vacant for a long time – and this is going to sound really weird. This is like my California side. But sometimes properties just have a weird energy. There's just like either it's the layout's weird, so buy a nice house with a good layout. But also I like visiting my

properties because I want to feel it. And other women tend to be the ones who choose the property. You know, it's the wife who's like, I like this one. So it's got to feel good. And sometimes they don't. And it could be because there was an unhappy person that lived there and there's like just negative energy. So I actually work with feng shui people to totally clear the energy so it's fresh and clean. I know that again, that's my California side, but it works. Yeah. I like that though. And I totally agree. Some places just have just bad vibes. And I've, you know, definitely when we were kind of house hunting for our first place, there were certain places where I'm like, nope, bad vibes. Just get out of here. I don't care if it seems like a good deal. But the thing is, you can fix that. That's what people don't often know. There's actually a lot

of studies now that show that energy is measurable. So if you literally had, like we bought, my husband and I bought a house where there was a nasty divorce, I mean, bad, and you could feel it, you could feel years of unhappiness in that house, you know? And, and so we had this lady come and, and just do, you know, they, they, they do the sage that, you know, there's all these things you could do to clear that energy because supposedly, um, you know, anger is actually a measurable energy that can linger, you know, but it can also be cleared. That's interesting. That's interesting. I do usually like whenever I move to a new place, I haven't done it to a new place, but we did just move in is my grandma gave me a

bottle of holy water because we're from a Catholic background. And so she gave it to me, you know, when I first moved out of my parents' house. It's kind of like a warming gift, but it's true. I still, no matter where we move, I always kind of just put it around the house just for kind of good vibes, just to kind of get the bad out. No, no, for sure. I mean, there's no, depending on whatever your religion is, I mean, definitely for sure, sage it, just burn sage. That's supposed to just- No, that's a good idea. I think I should do that to this place. Definitely do that. And then, and then go around to every corner and bless it and pray and pray and, you know, and, and ask for the present, you know,

presence of God to be there and to bless it. And it will make a difference for sure. Absolutely. Yeah. So before I let you go, you did mention that you have a book, what other kind of resources do you want to make sure that listeners should check out? Sure. Like I said, Retire Rich with Rentals is on Amazon. And that is like, boy, you could read that in an afternoon. It's real easy. But it got the checklist you need to make sure you don't make dumb mistakes, you know, but it's really easy to read. And then Real Wealth Network is our website, Real Wealth Network. And you can join there for free. And then you get access to all the data on the best markets today. And why we like those markets. Yeah Yeah. Where the jobs are moving and then, you know, lots of data that I didn't know I was a data freak until I got, but I love it. Um, so we share that and then we share, um, the referrals, the way we get paid is we refer, um, you know, to the agents in those areas and they pay us out of their commission. So, um, nobody has to pay for our service. So that's nice. That's great. Yeah. So you get access to our referral list of people around the country who really understand

investment property and are able to provide that. Awesome. Well, thank you so much, Kathy, for chatting real estate with me. It was a blast. Now I'm going to definitely check out your website. Wonderful. Good. Love to have you as a member. And that was episode 98 with Kathy Fetke from the Real Wealth Network. Make sure to go to realwealthnetwork.com to find out more about her and to get involved in this real estate investing world. Apparently, a lot of people are doing it and they may just not talk about it. I'm always discovering people that I know. I'm like, oh, you own a place that you rent out? I had no idea. So if that sounds like something that you want to look more into, check out her website. She seems to absolutely know her stuff. And of course, I'm going to put

a lot more details about things that we talked about, some more interesting links and tidbits in the show notes. JessicaMorales.com slash 98 is where you need to go to figure that one out. All right. And of course, before I go, thanks again to Lowest Rates for sponsoring this episode of the MoMoney podcast. Lowest Rates is awesome because they help you find the best rates on almost anything, including your mortgage rate, auto insurance, life insurance. Basically, they want you to find the best deal around.

And the best way to do that is to go to their site to find out what the best deals are. I did it myself. I've tried it out. That's why I like to spread the word. And I'm a big fan of lowest rates. So make sure to go to lowestrates.ca if you're in the market to shop around for some rates. That's where you got to go. Lowestrates.ca.

All right. Well, thanks again for joining me for this episode. And lucky me, I've got a listener series episode for you. Maybe lucky you. Lucky me, lucky you. We're all lucky. So make sure to come back here tomorrow because I have a listener series episode that you will not want to miss. And on that note, if you are listening right now and you have a story that you want to share with me on an episode, please shoot me an email,

jessica at jessicamorales.com and we'll see if we can get you on the show. All right. Cheers. This podcast is distributed by the Women in Media Podcast Network. Find out more at womeninmedia.network.