Episodios

  • What’s the Best Way to Screen Tenants Without Discrimination?

    What’s the Best Way to Screen Tenants Without Discrimination?
    May 22 2025
    In the podcast 'Keys to Success', host Litra Simms takes listeners through real estate basics, focusing on how property owners can most effectively screen prospective tenants while adhering to fair housing laws. Explaining the stipulations of the Fair Housing Act, Litra emphasizes that landlords must not discriminate based on protected characteristics such as race, color, national origin, religion, sex, familial status, or disability. Simms outlines the importance of consistent criteria for all applicants in their credit history, income verification, and rental history. She advises on how to avoid discriminatory behavior, underscores the importance of professional and neutral communication, and emphasizes the usefulness of a well-documented tenant screening policy. Concluding that fair and equitable tenant screening is not only a legal requirement but also contributes to a robust reputation and protected investments, Simms encourages listeners to maintain open and professional communication for a transparent process.
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    11 m
  • Short-Term Rentals: Is Airbnb Still a Smart Investment?

    Short-Term Rentals: Is Airbnb Still a Smart Investment?
    May 21 2025
    In this episode of Keys to Success, Litra Simms discusses the trends, financial aspects, and operational challenges of investing in short-term rentals like Airbnb in 2025. After explaining the increased traveler demand and the types of locations that are popular, she highlights the potential for high rental income and the risks of seasonal income fluctuations and higher operational costs. She emphasizes the importance of excellent guest communication, meticulous cleaning, and frequent maintenance checks when operating a short-term rental. Litra also examines the pros and cons of hiring property management companies and underscores the importance of understanding and adhering to local regulations. The podcast concludes with advice on aligning these short-term rental considerations with your overall investment strategy.
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    12 m
  • I Want to Invest Out of State What Should I Know?

    I Want to Invest Out of State What Should I Know?
    May 16 2025
    In the recent episode of "Keys to Success", Litra Simms offers a comprehensive guide for real estate investors interested in out-of-state properties. Litra outlines the potential benefits of investing out-of-state such as lower property prices, higher cash flow, and increased investment opportunities. She emphasizes the importance of thorough research into potential markets, taking into account factors such as economic stability, job growth, rental market dynamics, and property appreciation potential. Litra also discusses the importance of understanding the local laws and taxes, and the benefits of property managers and technology in effective remote management. She advises on building a reliable network of contractors and vendors, and a strong local network for support and opportunities. Lastly, Litra highlights the potential risks of out-of-state investing including limited control over the property, higher repair costs, and market risks due to unpredictable factors. The episode provides a solid foundation for investors looking to expand their real estate portfolio outside their local market.
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    17 m
  • Using HELOCs to Fund Your Next Investment Property

    Using HELOCs to Fund Your Next Investment Property
    May 14 2025
    The podcast episode 'Keys to Success' hosted by Litra Simms, explores how a Home Equity Line of Credit (HELOC) can be a transformative tool for real estate investors. Throughout the episode, Simms explains how a HELOC, a revolving line of credit that uses a home as collateral, can provide flexible and reusable funds at lower interest rates for property purchases or renovations. However, she also highlights the risks associated with overleveraging, variable interest rates, and the potential loss of property if repayments are not met. Simms concludes by offering tips, such as using the HELOC for investments not expenses, having a repayment plan, and regularly tracking borrowing. She stresses the importance of financial advice before making decisions and promises to delve into out-of-state investing in the upcoming episode.
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    12 m
  • Should I Refinance My Rental Property in 2025?

    Should I Refinance My Rental Property in 2025?
    May 9 2025
    In this episode of Keys to Success, Litra Simms explores the complex topic of refinancing rental properties in 2025. She breaks down the meaning of refinancing and outlines the potential benefits it could offer, such as lower monthly mortgage payments, accessing accumulated equity, and restructuring loans to fit individual needs. However, she also highlights the challenges property owners could face due to potentially higher interest rates in 2025. Litra offers in-depth insights on when it might make sense to refinance, the associated risks, and important factors to consider prior to making a decision. Additionally, she suggests alternative strategies, such as leveraging a Home Equity Line of Credit or seeking private lenders. Throughout the episode, the importance of aligning any financial strategy with individual investment goals and situations is emphasized.
    • Transform Your Life with Litra Simms – Certified Coach & Speaker
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    12 m
  • Navigating Real Estate Investment in 2025: Strategies for Success

    Navigating Real Estate Investment in 2025: Strategies for Success
    May 6 2025
    In this episode of "Keys to Success," Litra Simms discusses real estate investment strategies for 2025. The episode covers current market trends like fluctuating housing prices and rising interest rates which are impacting investment strategies. It highlights sustainability and energy efficiency as essential elements in today's market. Operational efficiency through advancements in technology, virtual property tours, and AI for property valuation are also discussed as crucial tools for real estate investors. The episode advises on different financing options including Home Equity Lines of Credit (HELOCs) to navigate the challenge around the rise in mortgage rates. Finally, tips for new investors are provided, recommending starting with smaller, manageable projects and treating real estate as a continuous learning process.
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    17 m
  • How Do I Finance My First Multi-Family Property?

    How Do I Finance My First Multi-Family Property?
    May 2 2025
    In this episode of "Keys to Success," host Litra Simms provides listeners with practical advice on financing their first multi-family property, a topic often overlooked but essential for those looking to dive into real estate. Litra discusses various financing options such as Federal Housing Administration (FHA) loans, conventional loans, partnerships with investors, and creative deals including seller financing and lease options. She also details the benefits, drawbacks, and requirements for each financing option and shares crucial funding tips. These include maintaining a strong credit score, saving for a down payment, managing one's debt-to-income ratio, budgeting for additional costs, and fostering relationships with lenders. Her expert advice guides listeners on how to strategically navigate the financing landscape, helping them make informed decisions while embarking on their first multi-family property investment.
    • Transform Your Life with Litra Simms – Certified Coach & Speaker
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    8 m
  • Topic: 5 Common Mistakes New Real Estate Investors Make – And How to Avoid Them

    Topic: 5 Common Mistakes New Real Estate Investors Make – And How to Avoid Them
    Apr 30 2025
    The podcast episode on Keys to Success, hosted by Litra Simms, discusses the five primary mistakes made by novice real estate investors and how to prevent them. These potential pitfalls include a lack of adequate research prior to investing, underestimating costs, attempting to handle all tasks individually, overuse of debt to leverage investments, and focusing too heavily on property appreciation. By highlighting essential aspects like extensive research, careful financial management, building a reliable team, smart use of debt, and primarily focusing on cash flow for investments, Litra provides a roadmap for successful real estate investments. She emphasizes the importance of considering worst-case scenarios before making an investment and believes that this strategic approach helps build more resilient portfolios. The highlight of this episode would benefit any new real estate investor looking to avoid common, costly mistakes.
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    11 m
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