The Investor Warrior

Every new year, same thing.  New goals, a resolution or two.  For entrepreneurs this is especially the case when it comes to our businesses.   Today the Dr and I visit the new year and uncover the secret of what makes your new year - or any other - decisions successful... or not. And in this Part 2 episode, Dr Stephen breaks down the success Formula.  

Every new year, same thing.  New goals, a resolution or two.  For entrepreneurs this is especially the case when it comes to our businesses.   Today the Dr and I visit the new year and uncover the secret of what makes your new year - or any other - decisions successful... or not.  

As we continue the series of Howie working on the challenging transition from Owner-Operator to true Owner, Dr Stephen Crawford and I dive into the 3 Lies we (business leaders) tell ourselves   We dive into SECRETS to overcoming these, from debunking & deconstructing the 4 hour work week, to ONE THING that will make the difference, despite there being not silver bullet.  

Are you as an Entrepreneur doing what you want, when you want?  Can you take off work for any period of time without your income taking off with you?  If the answer NO, join the crowd!  Let's cut the B.S. and dive into the reality and possibiliites for us Entrepreneur slugging it out in the trenches, chasing the drream.... Today we finish what we started wtih Dr. Stephen J. Crawford:  The 6 Things it takes to go from Operator to Owner.  

Ok, we're baack!   What?  you've heard this before?    Well you're hearing it again! You try running two business, raising 3 kids, moving across country and maintaing a podcast.... Wait, that's the whole theme of this re-launch podcast, with Guest:  Dr. Stephen J. Crawford: Are you as an Entrepreneur doing what you want, when you want?  Can you take off work for any period of time without your income taking off with you?  If the answer NO, join the crowd!  Let's cut the B.S. and dive into the reality and possibiliites for us Entrepreneur slugging it out in the trenches, chasing the drream....

Buyers and investors will agree property location, features, and costs are crucial, but every real estate sale ultimately hinges on the buyer's access to funds. Join us as we take a segue into exploring the many factors affecting access to credit, the willingness of lenders to issue mortgages, and the overall health of the economy.

'Tis the season to dust off the crystal ball and count down our industry's top 5 monthly pulse checks. Rocketing into 2023, we weigh in on market trends taking a deep dive into rates and inventory knowledge.

Kicking off Season 2, we meet the Sherpa Companies team sprinting to the challenge of the industry introducing concepts and strategies behind their success. From tackling shifting markets to shifting focus and a big dose of happiness in the mix of it all! This is a must tune in episode.

Closing out the empowering women-in-investing series; experienced real estate investor over 30 years, a true multi family mastermind and current cosponsor-general partner in four active deals, passive investor accounting for over 3,100 doors across seven states in primary markets; Ruth Hiller inspires listeners while sharing the secrets behind the magic of natural ability.

Just shy of a half million square feet of retail and industrial space across 9 states, this aggressive investment professional weighs in on the rocket fuel behind non-conformity. Immigrating to the US herself as a teenager, now leading her company to national status and presenting on stages across the country, Faria Rahman Ibrahim addresses the burning “HOW” questions on this episode.

Continuing our Deal Talks series, we are pulling out the tried and true playbook for financial independence. From the “Sunshine” state to the southwest, The Mentasanas breakdown a behind the scenes look at real estate investing both present and future in this must watch episode.

From rehabbing the houses she was living in, to acquiring multiple commercial deals with over 100 doors little power house teaches us how this all works.

Kicking off our Women-in-Investing series, we are beginning with a BOOM! Today we meet Dr. Jessica Vera. Founder of multiple-million dollar corporations, awarded several accolades and had spoken on international platforms, Dr Vera is also a survivor of childhood sexual trauma. Founder of the Elite Foundation, battling the scourge of human trafficing.     Her journey on this episode. You can't miss this.

Meet Matt Silva.  The consummate entrepreneur, Matt owns and runs both an IT company and and a German chemical compound distribution business.  Mathew once used his own house to setup a Crypto Currency mining operations, filling the house with network gear and and computer servers.  You gotta hear this...

Meet Beannie Brewer, owner of The Brewer Agency and member of Farmers insurance group.  In the midst of a growing (property) insurance crisis in Florida, Beannie has built a $1m book of business in his first 7 months.   How does this work?

Meet Ryan Herting from iFund Cities, and get tuned into how an an investor's Lender is dealing with the rapidly changing environment.   Today we dive into the shifting winds of the market and what it means to investors, and specifically to investors with Lending in place and Lending pending...

The Investor Warrior was created to pay honor to the warrior like attributes that are required to make it as an entrepreneur, especially in the real estate arena. Today Kari and Howie dive into and analyze what it is truly to be a warrior.  Listen here to the top 5 attributes of a successful warrior.

We continue our varied series on couple in business.  Why?  It's freakin hard!  Meet Man is from Mars, Woman is from Mars....

Today we dive into why many of us entrepreneurs avoid lawyers like the plague and what can happen to you if you don't heed the famed Robert Kiyosaki's guidance when he told us to put LEGAL snap dab intot the middle of your cash flow pyramind. Our new friend, and counsel, James Moore helps us unpack it.

Careers, Business Ownership, Family, Kids, Money, Time, Magic... we all want it all. But can we actually have it? And to what price?   Entrepreneurs for the greater part of 12 years as a couple, Howie & Kari unravel the Good, the Bad and the Ugly of the ultimate pursuit. And what's next?  

On todays episode I talk with our good friend and financial planner John Bell. John is interesting in that he is both a mortgage broker and a financial planner- a financial services entrepreneur. We talk about whats going on in the mortgage industry today, what higher interest rates mean for borrowers, why interest rate is climbing, why borrowers are having a hard time buying houses right now and whats happening with the low inventory market. We also delve into some great books we have read and are currently reading that are helping us to keep a better perspective on the uncertainties, and challenges of the current state of affairs.     

In this episode the 6 human needs, what they are and why the NUMBER 1 Human need is getting in our way of achievement and success in our business. 

On today's episode, I talk with David Hill. In 2016 David was a real estate appraiser and beginning to flip homes. While attending a friend's wedding, David jumped into the pool and ended up in the hospital with a broken neck and a spinal cord injury. David has been paralyzed from the neck down ever since the incident. We talk about his physical and mental journey through it all, and how sometimes we must pivot when life throws us curve balls.  

On today's episode, Howie and I talk about what private lending is, who could be a private lender, how to secure private lending, and why it's advantageous for both parties. 

On todays episode, I speak with my good friend Ed Zulyevic, founder of Sharkz Capital and Agent with EXP realty on his journey into real estate, how his career as an airplane mechanic has helped him with his investment business, the recent mobile home park acquisition he just did, using creative financing to invest in real estate, syndication, and more. To get Ed's free e-book, go to www.sharkzcapital.com

On Todays episode Howie and I talk about the real estate event he just attended and spoke at. We talk about Slaying the B....The inner voice in your head telling you, you cant do this. We get into the Who, What, Where, When and How of Slaying the B and how focusing on three particular things can change your trajectory and your life. 

On Todays episode we are going to talk about my experience of being in Cost Rica for 29 days doing a 21 day water fast and the things Iearned along the way that apply to having a successful business. We are also going to talk about how to get rid of the garbage thats holding you back from being successful in any area of your life. 

I recently had an interesting discussion with someone at a real estate event who asked the question, "Why the hell would anyone want to sell their house with owner financing?!" On todays episode we are going to break that question down into the answers you are seeking. This will help you to present an offer with owner financing confidently, help educate homeowners on why selling with owner financing might be the best strategy and help more people, inlcuding you, to build wealth through creative financing. 

On todays episode I talk with my good friend Cherie Mason. Cherie and her husband started later in life with investing and she talks about their journey and what it has transformed into. We talk about flipping houses, working with your spouse, taking on risk, knowing how to mitigate your risk and partnering with others on deals. To reach Cherie, you can email her at CherieMason@Thevillages.com or call 352-615-2754.

On todays episode I talk with my good friends Vinny and Gabriel. We talk about Vinny''s journey from climbing out of a huge amount of debt, Gabriels journey to recently leaving a 9-5 job that he loved, buying their first house, managing 12 air bnb's, buying a restaurant with their family, managing a wholetailing/flipping company in Florida while they travel, and their snowbird life between Florida and NY, all before the age of 30. We also talk about the cash flow potential that you get when you can convert your rental into an air Bnb, how to efffectively manage short term rentals and who you need on your team to.  Additionally we talk about doing work that you love doing, building confidence in yourself when it comes to all aspects of your life and what happens when you allow Life to happen for you, not to you.  

On todays episide we talk about our experience hiring the wrong contractor which cost us time and money the process we use to hire the right contractors. We will talk about the questions we now ask every contractor that are going to potentially hire and the red flags you need to watch out for.  

On todays episide I talk with Real Estate Investor/Agent and attorney Andrea Hosch about Land Trusts. We talk about how to Keep your Real Estate ownership private Keep the sales price hidden in some circumstances  Keep transfers of ownership private and unrecorded Keep property liens on one property from affecting your other properties Helps reduce the paperwork and cost of the probate of your Real Estate Avoid additional accounting costs associated with multiple LLC's Avoid partition with multiple owners Reduce your risk of lawsuits We also talk about the paperwork involved in land trusts, how to set up a land trust, what states can use land trusts and the cost of a land trust. 

On today's episode we talk about the top 10 things we have learned in the last 10 years of flipping houses, PLUS a bonus!  1. Get an inspection whether you are new or experienced  2. Don't try to make a bad deal a good deal 3. Don't overimprove or underimprove  4. Order Material Ahead of time  5. Work with the right contractors: how do you know they are the right ones? 6. Line up your financing ahead of time  7. Keep your name and purchase price off public record  8. Use the same materials over and over again  9. Professionally staged, professionaly cleaned, professionally photographed  10. Prequalify your buyers 11. Get the right insurance coverage: we use a vacant house policy

On this episode, I speak with real estate entrepreneur Josh Mentesana about the extraordinary struggles he faced when he was 7 years old through his mid 20's and what he needed to do to turn his life around. We also discuss the freedoms that real estate can give you and why that is more important than ever right now in light of the events going on in the world. 

On todays episode we talk about what it takes to be a real estate entrepreneur, our experience with the 75 day hard program, emotional and mental toughness and how to practice more discipline in your life with Kari & Howie Lyke

On Todays episode, we talk about having integrity, being honest and candid, and keeping the lines of communication open with sellers. We also talk about something that really bothers me in this business and if you follow this number 1 rule when transacting with homeowners it will help you  to consistently close deals and renegotiate when you need to. 

On todays episode, we talk about the dichotomy of life and business.  You cant have success without failure  You cant have growth without pain  You cant have extraordinary without discomfort  Resources: The 5 Second Rule by Mel Robbins 

Believes asset protection is about life preservation rather than legal. Protecting what you have is most important when first starting out in investing. Single member LLC's are basically worthless due to the court dismissing them. LLC has “one mindset” while limited partnership has “duel/split mindset” A disregarded entity makes you personally liable for a lawsuit putting all assets at risk. Landtrust is used as a privacy device and only holds land it is not for protection.

Sean is a CPA from Dimercurio Associates Capital Gains Rate is something you should be paying attention to Depreciation is write offs are over a certain number of years You cant write off the cost of land LLC's can be taxed however you want them to be  Cars are good write offs as you can take mileage or cost to write off Most common way to offset taxes using real estate is through depreciation  Dimercurioadvisors.com/warrior 

- Grandparents started in real estate - StackSource is a commercial financing portal - Allows lenders to get matched to loans - There are over 70 criteria that must be met for a lender to be matched - Browser has been created to help calculate best financing option for you - key differences between commercial and residential mortgages -commercial has personal recourse -residential does not. - Bank loans take 45-60 days to close, Tim was able to close one property in 2 weeks - Underwriting is one of the common reasons people are denied commercial loans

Worked multiple corporate jobs before switching to investing Mindset is the foundation of success Business is driven by pushing  You cannot sit and wait and expect the business to grow and run. Embracing pain and work is key

Investing in Mobile Homes For Adrian, mobile home are about cash flow  Invests in mobile home WITH land  Bought mobile homes in parks during the building phase but they are more maintenance Likes to invest in homes that will attract blue collar tenant  Case Study: -Bought a 1974 mobile home with concrete addition which doubled square footage (and was done correctly. Usually where the roof connects, you get leaks. This one was done correctly with no leaks). Bought it from wholesaler  -Bought for 50k. Wholesaler made  -Needed a roof over the utility room and workshop, electrical work. Put 5-6k into  -Rents it now for $1250  How Adrian finances the mobile homes -His own cash  -Private money  -Seller financing  Many homeowners of mobile homes know they cannot sell it to someone with bank financing so they are already primed for a seller financing conversation  How Adrian finds mobile homes on land: -Other investors and realtors  Adrians Exit Strategy -Keep them forever for cash flow Things to look out for: -Older than 1978, not up to code     -Copper wiring     -Particle board floors (bw tub and toilet, check there! Thats usually where water damage is)     -Flat, horizontal ACs (need to be pointing outward so it doesn't cause water damage)      -Grey Pex piping- always leak at some point     - Not energy efficient. Doors and walls are thin      -Parts may need to be purchased from mobile home parts store        -Addition: most likely not permitted  Insurance:     -In FL it depends on what county your in. Closer you are to water, the harder it is to get insurance       -Can get insurance on 1980s and newer and its going to be based on depreciated value. Wont be able to get named storm coverage on older homes.  Tie Downs:     -In 1996, when Andrew came through, they made the requirement stricter. 1998 and newer, straps need to be closer.       -If home is older than 98, good chance that they are not up to code.        -If they are older and rusted away, you need to replace them      -$2,300-$3,000 to replace or modify  Skirting:       -Holes cannot be larger than a quarter       - Keeps animals out        -The guts of the house are under the mobile home. Makes it easier to replace systems however you want to protect it with skirting  Difference between purchasing a mobile home on land vs a SFH on land      -Mobile home = personal property, land = real property       -Contract needs to include the personal property (mobile home)      -DMV takes care of title to mobile home        -Retirement of title: Adrian Always retires the title. Its the process of taking the home and attaching it to the land paperwork wise. Means you are going to pay property taxes on the home and the land.                -Gets a little black sticker that you dont have to renew now      -On PSA, make sure you put the VIN of the mobile home to ID it and include it in the sale (1 for single, 2 for double wide, 1 will have an “A” before it and one will have a “B” before it and thats how you know they are married together)      -If the title on mobile home has been retired, you can find the VIN in the legal description  Lessons Learned along the way  Termites like mobile homes because of the old particle board.May need to tent the home  Alot of AC's will be window units  Replacement of floors will result in different heights of floors  In older homes Water heater may be in a little compartment that you access outside of the home Mobile homes have rat problems and they chew through the wiring. Spray weed killed around the skirting so you don't have to weed wack around the skirting, which is what usually damages the skirting  Axels will usually not be up to code to allow movability  Importance of title company that understands mobile homes       Knows how to retire title        Always ask for a bill of sale with mobile home         Check liens on land AND mobile home  How to find the value of an older mobile home        Very difficult to evaluate because its usually either cash buyers or inflated owner financing         Can start with value of land         Adrian looks at value based on return and risk  How to reach Adrian: Adrian@mywifebuys.com  Facebook: Adrian Smude 

Todays a special episode! Today we set aside all of the hype and we get real about this sport of ours with our mentor and good friend, Greg Pinneo   Greg has been a real estate entrepreneur for over forty-three years. He has an amazing story that will impact YOUR life. He started teaching acquisition, finance, negotiation, and the philosophy of success at Seattle Pacific University at a very young age.   This was the entree that opened the door to many opportunities to teach and speak all over the world. His goal has always been disruption that leads to positive change and impact and believes in living a deliberate life of purpose and passion.   Greg focuses on world class education...a no BS look at real estate entrepreneurship.    Greg also has amazing bride whose name is Shauna, seven great kids, two incredible parents, and is blessed with many great friends and students to engage with.   Pinneoisms:  "Consider....questioning everything" "Growth is the grail....sameness is the enemy" "Arrival Before Departure"   https://www.thecorco.com/  

Jennifer's Book: The Give to Get Principle The first half tells what everyone's secret sauce is. The second half is a cookbook on how to succeed Questions to ask yourself: What makes you special and unique? Who do you serve? What is your why?  Know who your target demographic is. Give people something helpful, don't just show them what you do. In real estate, relationships are something that you should focus on the most

Advice Every investor should get their license. The biggest mistake you could make is not practicing, not role playing, and not knowing your script/dialogue. Don't practice on the people that pay you. Constantly get new coaching, mentoring, and training for yourself. System for when a deal doesn't work A homeowner calls Chris to see if he would buy their house. They figure out that they can't make the deal work, but the house could be listed on the market. He refers them over to an agent who lists their property. He then collects a referral fee when the house is sold. Why people want to sell to investors, not list their house Investors can close quickly. It is more convenient to sell to an investor. Sellers don't want to deal with repairs. There may be problems with the title, so they wouldn't be able to sell to a retail buyer. The seller may be embarrassed and not want anyone to know that they are selling their house. Sellers want certainty. How to find a good agent to partner with Have someone you trust get licensed or find someone that is already licensed. If you're going with someone that is already licensed, make sure that you go through an extensive interview process. Don't look for potential, always look for patterns. An agent needs to be happy, hungry, humble, and smart. Put their license under your entity with a DBA. Contact Instagram: @craddrock Website: ChrisCraddock.com  

Walking you through the deal Mike found the storage facility when it was a week away from being put through the auction process due to the unpaid mortgage and taxes. The closest competitor was 10 miles away. He purchased the facility for $465,000. He put a $5,000 good faith deposit down. Then, he raised $120,000 from private investors in exchange for equity. He also raised private debt for the remaining $375,000 at 12% no payments, paid in full within a year. The facility needed $35,000 in small repairs and working capital. It did not need a full makeover, it just needed an operational improvement The deal took around 3 months to close. When he bought it, it was at 40% occupancy, but had good rental history. After they closed on the deal, he had to make sure that the units that were full, but not being paid for, were auctioned off or emptied. He set up automated systems including: A gate that lets customers in if they paid their fees, and doesn't allow access if they didn't pay their fees. An online portal where customers can go to rent their units and pay their fees. A call center to answer calls from people that don't want to do the rental process online. One person with “boots on the ground” working about 2-4 hours a week. 4 months after closing the facility was full. Mike sold another property and was able to pay off the debt and private investors on this property and now owns it free and clear. The facility is now at 94% occupancy. Rents are approximately 50% higher than when they took over. The facility generates about $170,000 in revenue per year with $50,000 in expenses. He has owned this property for 3 years and is now selling it for 1.15 million dollars. How he finds and qualifies storage facilities to buy He looks for properties that are close to where he travels. He researches supply and demand in the area. To qualify a house, he asks himself two questions: Why is it under performing? Do I have the capacity to fix it? He typically does 30-45 days of due diligence and then closes 30 days later. He verifies and confirms or denies everything that he thinks he knows about the property (ie. Rent rolls). He looks at the rental history and previous tax returns. He researches market rent to see if it will be profitable. He makes sure that storage is a current permitted use and that they will be able to expand. He talks to the city about any proposed or potential storage facilities that can come up in the future. He doesn't flip a property that he isn't willing to own long term. Marketing for storage units You can not create demand for storage units, people need storage when they need storage. Be the first property they find when they're looking for storage units. Get listed on Google My Business and Google/Apple Maps. Utilize Facebook Ads. He hired a directory management company that manages the social media for him, to make sure that it's consistent. Advice The key to success is helping others succeed. Try not to ask yourself “is this a deal?” Instead ask yourself “can I make this a deal?” Don't put in all of your own money in to a deal until it is proven that the property makes a decent cash flow. Contact Website: StorageRebels.com Facebook: The Storage Rebellion YouTube: The Storage Rebellion

Team Member Structure Kyle uses a setter-closer structure He has appointment setters who get the lead to come in and they qualify the lead. The appointment setters get 10% of any deals that are closed. He also has acquisition managers who talk on the phone to sellers, negotiate, put together the offer, and do all of the follow up until the property is under contract. Acquisition managers get 10% of any deals that they close. There is currently 1 acquisition manager and 5 setters on Kyle's team. How to market on Facebook Kyle uses public and private Facebook groups in various markets around the US to market to sellers, end buyers, virtual assistants, and possible commission based employees. If you're looking for sellers, you want to market in community-based groups. To find buyers, you should market in investor groups. To find virtual assistants, you should market in VA and freelancer groups. If you're trying to recruit a commission based sales team, you want to market in newbie wholesaler and investor groups. The Marketing Message  Keep the post short and sweet with a bright background. Don't sound like a company, sound like a typical house hunter. How to avoid getting kicked out of Facebook groups Build relationships with the group administrators Follow the group's rules Don't join pages that are specific (ie. photography groups) Scan through the group to see if other people are posting things similar to what you want to post. Only do 13 actions per day. Actions include joining a group or posting in a group. How to attract good team members Treat them like family. Have them be a part of something that's bigger than themselves, like a team. Give them a sense of ownership by giving them important roles in the company. How to run a team virtually Kyle and his team have weekly Zoom meetings. They use Loom.com to record videos of your screen and your face to send how to videos. All of the team members are in a group chat on Facebook Messenger. Contact Facebook Group: Group Marketing Real Estate Investing Leads Go to DealMachine.app.link/warrior to get your special offer for the Deal Machine app!  

Two types of cases Summary administration – The value of the assets in the estate is under $75,000. If a house is homesteaded, it could be worth $10 million, but it will be counted as $0. The assets can be worth over $75,000 but only if the date of death is over 2 years ago. Formal administration – The value of the assets in the estate is over $75,000. Ancillary administration – the deceased resided outside of the state of Florida. What kind of questions should an investor ask an heir if there is a will in place? Is it an original ink will? Does the will have the correct signature requirements? Two disinterested witnesses Needs to have a self-proving affidavit What does the will say? Is there a homestead clause? Is it a rest, residue, and remainder clause Just because someone has a will, doesn't mean their assets don't need to go through probate, it just helps the court guide the probate process. When can you go under contract? If all of the heirs agree to sell the house, you can go under contract at any point throughout the probate process, but the contract might not be enforceable in the beginning. Once someone is appointed as the personal representative, the contract is enforceable. Advice Become knowledgeable about probate and what they might be going through Play psychologist Be a trustworthy source that can guide them in the right direction Be the buyer when probate is done so that they can move on Should you market to probate attorneys Al typically works with properties that are already under contract or already have offers. The attorney isn't the decision makers, they just facilitate the process. It might be better to contact the heirs directly. You still want to talk and build relationships with probate attorneys, but not for marketing. Contact Facebook Business Page: Al Nicoletti Instagram: @AttorneyNicoletti YouTube: Al Nicoletti Phone Number: 904-246-9994 Al hosts a webinar on his Facebook page on every second Wednesday of every month