HOW to Fix VRBO and Overcoming Down Payment Barriers in Real Estate

**Backyard Millionaire Radio 8/17/2023 - Show Notes**<br />1. Unveiling the Secrets of Success in Life  - The elusive secret to success is about to be revealed.  - Success is not universally defined; it's a personal journey.  - Rejecting the notion of participation trophies, real success is determined by personal ambition and action.  - Success is the pursuit of your unique goals.<br />2. **DAD - Define, Act, Decide**:  - The secret sauce of success: DAD - Define your goals, Act upon them, and Decide to pursue your dreams.  - Lightning bolt moment: Realizing the power of taking action.<br />3. **Overcoming Down Payments**:  - Down payments shouldn't deter you from achieving wealth.  - The Backyard Millionaire motto: Invest your way to wealth.  - Strategies for overcoming down payment hurdles: Save up, no-money-down deals, low-money-down deals, and syndicate partnerships.  - Recommended reading: "Creating Wealth" by Robert G. Allen.  - Personal success story: Investing in two properties within six months.<br />4. **Living Like You're Selling**:  - Owning a property with the mindset of selling.  - Tips for maintaining your property's value: Home inspection, timely resolutions, and preventive maintenance.  - Ensuring your property is always ready for a potential sale.<br />5. **Custom Metric for Investment Property**:  - Tailoring your investment property evaluation metric to your goals.  - Balancing cash flow, future equity, and principle paydown by others.  - The importance of understanding your "why" and aligning investment opportunities.<br />6. **VRBO Etiquette and Solution**:  - Being a respectful guest in VRBO properties.  - The responsibility of maintaining neighborhood harmony.  - Personal experience: Addressing disruptive guests and humorously stepping in dog mess.  7. **Mortgage Insights with Rhonda Johnson**:  - Understanding FHA loans vs. conventional loans.  - Pros and cons of FHA loans for home purchases.  - Current FHA loan requirements: credit score, income, debt-to-income ratio, and recent changes.  - FHA loan application process, documentation, pre-approval, and closing timeframes.  - Insights into FHA mortgage insurance and its impact on monthly payments.  - Situations suitable for FHA loans and alternatives.<br />8. **From Success Magazine: "No One Gets to Say Who You Are"**:  - Steps to deep self-awareness by Nick Santonastasso.  - Questioning beliefs, embracing emotions, shedding negativity, crafting your desired reality, and fostering courage.  - A profound reminder of personal worth from a remarkable individual born with unique challenges.<br />9. : Embracing Your Journey to Success  - Success is self-defined and achieved through persistent action.  - Revisiting the DAD principle for achieving personal dreams.  - Remembering that you are enough, no matter your circumstances.<br />Stay tuned for more insights and inspiration on the next episode of Backyard Millionaire Radio!