Episodios

  • House Hacking in 2025: Live for Free While Building Wealth

    House Hacking in 2025: Live for Free While Building Wealth
    Jun 24 2025
    In this episode of Keys to Success, Litra Simms explores the strategy of house hacking in real estate investing as a potential path to financial freedom. She clarifies house hacking as using part of one's own home as a rental, generating income to offset living expenses, particularly advantageous for first-time investors. The financial dynamics described emphasize the significant contribution from tenant rental income in covering the house owner's mortgage, taxes and insurance. A range of property types suitable for house hacking are discussed. Litra advises potential investors to consider the location for strong rental demand and also to be prepared for the challenges of tenant management. Furthermore, she highlights the necessity of understanding local zoning rules and permits. Ultimately, she posits house hacking as not just about cost saving but a wealth-building tool that sets a solid foundation for financial independence.
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    6 m
  • How Do I Calculate a Good Return on a Rental Property?

    How Do I Calculate a Good Return on a Rental Property?
    Jun 20 2025
    In this episode of Keys to Success, host Litra Simms discusses how to calculate whether a rental property is a good investment. The episode is broken down into four key segments: Cash Flow, Cash-on-Cash Return, Cap Rate, and the 1% Rule. Simms explains how to calculate and evaluate each of these metrics to determine the potential profitability of a rental property. The episode is part of the 'Ask Litra' series, and Simms offers practical advice and insights based on her own experience in real estate investing. Whether you're a seasoned investor or just starting out, this episode provides invaluable insights into the maths and mindset needed to succeed in property investing.
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    8 m
  • Creative Financing Strategies for First-Time Real Estate Investors

    Creative Financing Strategies for First-Time Real Estate Investors
    Jun 17 2025
    In this episode of Keys to Success, Litra Simms discusses various creative financing strategies for first-time real estate investors, including seller financing, subject-to deals, and private/hard money lending. She emphasizes that these alternatives to traditional loans can help overcome high interest rates, credit challenges, and limited savings. She points out that rather than being deterred by these obstacles, new investors can leverage creative financing strategies to gain entry into real estate and start building their portfolios. She suggests that building and nurturing relationships is key to leveraging these strategies and encourages her listeners not to let traditional financing barriers hold them back from their real estate dreams.
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    8 m
  • How Do I Buy Real Estate With No or Low Money Down?

    How Do I Buy Real Estate With No or Low Money Down?
    Jun 12 2025
    In her podcast, Keys to Success, Litra Simms explores various strategies individuals can use to invest in real estate with little or no money down. She discusses creative financing options like seller financing, lease options, and subject-to deals that allow investors to get started without substantial upfront capital. Litra also uncovers several government-backed loan programs, such as FHA, VA, and USDA rural loans, which offer low or no down payment options. She further suggests forming partnerships or tapping into private lenders to gather resources for real estate endeavors. Litra, however, underscores the importance of being realistic—while the upfront investment can be minimal, some capital will be required for expenses like closing costs— and underscoring the importance of building credibility in the field.
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    11 m
  • How to Analyze a Deal Like a Pro

    How to Analyze a Deal Like a Pro
    Jun 10 2025
    In this episode of Keys to Success, host Litra Simms covers the vital topic of deal analysis in real estate investment. She walks through the basics of calculating cash flow and ROI, highlighting their importance in understanding the profitability of a property. She also emphasizes the need to consider other factors such as vacancy rates, local taxes, insurance rates, neighborhood trends, and job growth indicators, which can greatly impact an investment's performance. Litra shares helpful tools like deal calculators and property management software that can simplify and streamline the complex process of deal analysis. The episode concludes with the reminder that deal analysis is a critical skill for making smart, profitable investment decisions, and the importance of tracking and refining assumptions over time.
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    7 m
  • Building a Real Estate Portfolio That Scales

    Building a Real Estate Portfolio That Scales
    Jun 3 2025
    The podcast, Keys to Success, led by host Litra Simms, provides listeners with strategy-based insight to guide them in building and expanding their real estate portfolios. Litra explains the importance of defining clear objectives, setting benchmarks, and knowing what type of properties to invest in. She encourages using property management software and standardizing processes to streamline workflow, as well as considering virtual assistants or professional managers to handle the increasing daily tasks. She also highlights smart financing methods and the necessity of building relationships with local banks. Litra warns against expansion without the right support systems and the dangers of prioritizing cash flow over stable markets. She ends by reminding listeners to always have an emergency reserve. Litra emphasizes that scaling a successful real estate portfolio isn't about owning more properties but about creating a sustainable system that meets your long-term objectives.
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    9 m
  • What’s the First Thing to Do After Closing on an Investment Property?

    What’s the First Thing to Do After Closing on an Investment Property?
    May 29 2025
    In this episode of "Keys to Success," hosted by Litra Simms, the primary focus is on the initial steps necessary after closing on an investment property. She explains essential actions like changing locks and security codes, conducting a thorough walkthrough to assess the property’s condition, documenting damages, setting up utilities, and arranging comprehensive insurance coverage. The discussion also revolves around the need for a solid property management plan, deciding between self-management or hiring a professional, and schedule maintenance. The host also emphasizes the importance of communication with current tenants or effective marketing strategies for finding reliable tenants if the property is vacant. The goal is to guide investors to make the most of their investment journey, ensuring a fruitful rental experience.
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    11 m
  • Real Estate Partnerships: Pros, Cons, and How to Structure Them

    Real Estate Partnerships: Pros, Cons, and How to Structure Them
    May 27 2025
    In this episode of "Keys to Success", host Litra Simms discusses the potential of real estate partnerships as a strategy for success. She highlights the advantages such partnerships can bring, including the pooling of resources and expertise, diversification of risks, and the prospect of securing larger investments. She also takes a deep look at common partnership structures like general partnerships, limited partnerships, joint ventures, and Limited Liability Companies (LLCs). The host further underscores the benefits such as combined skills, the ability to handle more deals, and shared liabilities. However, Litra Simms also flags potential pitfalls such as conflicts over decisions, unequal contributions, and the crucial importance of legally binding partnership agreements. She emphasizes the need for clear and ongoing communication within partnerships, alongside clearly defined roles and responsibilities for each partner. She ends the podcast by insisting that success in real estate investing can often mean having a trusted partner and well-laid legal groundwork.
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    10 m