Term in poker
It's the inaugural Andy Staples Show (A.S.S.) Awards! Andy and Ari announce this year's winners in the Coach and Player of the Year categories. The guys also honor the (best) Bad Beat, Grab Ass, Word, and NIL Deal of the Year, and more! Watch on YouTube: https://youtu.be/6N7Hr2I6WO0 Follow Andy on Twitter: @Andy_Staples Follow Ari on Twitter: @AriWasserman --------------------------------------------- Peloton: Try Peloton risk free with a 30-Day Home Trial, New Members only at onepeloton.com/home-trial LinkedIn: Post your job for free at LinkedIn.com/ANDY Rhone: Upgrade your closet with Rhone and use ANDY23 to save 20% at https://www.rhone.com/ANDY23 HelloFresh: Go to HelloFresh.com/ANDY22 and use code ANDY22 for 22 free meals plus free shipping! Learn more about your ad choices. Visit megaphone.fm/adchoices
Joe O and Joe G take a look at an all time bad beat where a bettor missed out on $6 million dollars in two quarters of football. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
On this episode, Jerry and Kevin rant about why this team continues to lose close games by being out-coached. They question why the defense is failing the team. Is Mike Tomlin on a hot seat?You can find every episode of this show on Apple Podcasts, Spotify or YouTube. Prime Members can listen ad-free on Amazon Music. For more, visit barstool.link/steelherepod
It was another beautiful week of college football, and Action Network hosts Stuckey and Collin Wilson return to recap it all for bettors everywhere. USF fired their coach, but the interim refused to kick a PAT to cover the spread, sending Stuckey into a tailspin. Collin Wilson backed a Wisconsin/Iowa over that fell a half point short, and our audience was happy to dialy 959-BAD-BEAT to tell their own tales of woe from Saturday. Plus, we hear about the status of Club Lit, the pathetic Longhorns offense, and plenty more. And for any listeners who haven't signed up yet at BetMGM, remember to use bonus code ACTION at sign-up to receive your $1,000 risk-free first bet.
Holmberg's Morning Sickness - Opening Break - Friday November 4, 2022
Saturday night we received the most voicemails to our 959-BAD-BEAT hotline in our long and storied history. But after a wild weekend that included a Charlotte 49ers 50-burger, a West Virginia bad beat for the ages, and a Tennessee beatdown of Kentucky, this should come as no surprise. Action Network hosts Stuckey and Collin Wilson use these voicemails to help recap everything that happened from a betting perspective last weekend, before they turn their attention to midweek MACtion's return this Tuesday. And for any listeners who haven't signed up yet at BetMGM, remember to use bonus code ACTION at sign-up to receive your $1,000 risk-free first bet.
The Bird is the word! They are now 6-0 and beat their hated rivals. I am pumped! However, I am somewhat worried about the Texans and Steelers. Sooners beat Kansas and I'm satisfied. The Sooners beating Kansas by 10 cost me money in a hilarious bad beat story. TCU and Tennessee stay undefeated in two crazy games. The NBA is back for real but opening night was a disappointment. Phillies are fun to watch. The Caps a.re hanging in the there. Commanders winning the new golden L standings. I end the episode by giving a Goat Level Combo --- Support this podcast: https://anchor.fm/goat-level-podcast/support
Empezamos muy tristes por ese último TD de la defensiva de los Browns, pero que no panda el cúnico, acabos contentos con el análisis y el rundown de las mejores apuestas de la semana... Frank the Tank nos visita y da su parlay de anotadores, mientras Felipow se rifó con su parlay...
Chaos reigned supreme from start to finish on Saturday. Starting with a early slate led by Alabama at Texas, and continuing to the late night with Oregon State at Fresno State, the entire day featured absolutely bonkers finishes that left fans and gamblers exhausted for days to come. Action Network college football experts Stuckey and Collin Wilson return to break it all down, plus listen to a trove of listeners voicemails screaming at Duke unders and The Game That Got Scott Frost Fired, plus an unwatchable nightmare of an annual Cy-Hawk game. And don't forget to dial into our Bad Beat Hotline at 959-BAD-BEAT, where Stuckey himself will be providing a cash prize to the top caller each Monday.
In the latest edition of the PokerNews Podcast, Sarah Herring, Chad Holloway, and Jesse Fullen welcome guest Angela Jordison, who talks about her 2022 heater while at the 2022 World Poker Tour (WPT) Legends of Poker at the Bicycle Casino. They also break down Espen Uhlen Jørstad addressing a swap situation, highlight the $1.2 million Bad Beat Jackpot that hit at Rivers Pittsburgh, and discuss the sick live-stream action on Hustler Casino Live and Live at the Bike. They also recognize the WPT celebrating 20 years, highlight winners from Luxon Pay Mediterranean Poker Party including Arsenii Karmatckii and Rob Yong, and encourage you to mark your calendar for Peppermill Reno's Poker-palooza! Finally, listen to the brand new PokerNews Bad Beat Hotline segment where listeners can call in (+1 702-625-0166) and share their bad beats, which may be featured on a future episode of the show. Listen to those stories and more in the latest episode of the PokerNews Podcast! Time Stamps *Time|Topic* 00:30 | Welcome to the show 01:05 | Teasing guest Angela Jordison from WPT Legends of Poker 01:45 | $1.2M Bad Beat Jackpot hits at Rivers Pittsburgh 06:00 | Espen Jorstand, last week's guest, addresses swapping situation 11:10 | [URL="/natural8/ext/" target="_blank"]Sponsor: Natural 8[/URL] – Happy birthday, Kitty Kuo 11:40 | Sick stream action on Hustler Casino Live and Live at the Bike 18:35 | Have you listened to the Nick Vertucci Show? 20:11 | Sponsor: GGPoker – Qualify for GGPoker WSOP Online Main Event for just $5 21:08 | WPT celebrating 20 years 25:00 | Guest Angela Jordison joins the show 29:09 | What was it like to make a deep run in the WSOP Main Event? 31:00 | What do you like most about poker tournaments? 32:37 | Sponsor: 888poker – ChampionChip Games 33:42 | Luxon Pay Mediterranean Poker Party winners Arsenii Karmatckii & Rob Yong 36:28 | PokerNews Bad Beat Hotline Sponsored by our friends at Unibet Poker 41:50 | Call the PokerNews Bad Beat Hotline at (702) 625-0166 42:17 | Mark your calendar for Peppermill Reno's Poker-palooza
Cousin Sal and the Degenerate Trifecta kick off the show by getting right into a recap of last night's Mets game while Parlay Kid kid is still sour about his current losing streak and claims Pete Alonso is too fat to hit. Next, they get into a recap of Hard Knocks, notable cuts around the NFL, and the movement of a lot of backup quarterbacks. The crew then goes into this year's best bets for the receivers around the league, and to no surprise, Harry is rolling with someone on the Vikings. Parlay Kid then gives a pick from the Bears to hope to prove Harry's ridiculous Fields take from yesterday wrong. Week 1 of NCAA football is underway and features a matchup between Oklahoma's State and Central Michigan, which is a rematch of Sal's worst beat of all time. Finally, the show ends and we wonder, did Harry actually crap his pants?
Nebraska backers called into our Bad Beat Hotline (959-BAD-BEAT) in droves on Saturday to voice their displeasure with the Cornhuskers Dublin debut, leaving us with a trove of angry voicemails to share with you today. Action Network hosts Stuckey and Collin Wilson recap their performance across a weird and wacky Week Zero slate, respond to your fury, and highlight Week 1 lines they're already betting. Plus, we learn more about just how horrenous Nevada will be this season, and whether we'll hear even more Nebraska love in the weeks ahead.
Special Sportsbook Offers for SteadyPicks Podcast Listeners : https://www.steadypicks.com/sportsbook-offers BETMGM : $1,000 Risk Free Bet! : BetRivers : $250 Deposit Match! : Must be 21+ - Gambling Problem? Call 1-800-GAMBLER YouTube : https://www.youtube.com/channel/UCLlMH3XkYUviUkkSJpwWX7w Twitter : @GetSteadyPicks Tom on Twitter : @SteadyPicks_Tom
Tony, Jonnie, and Steve commiserate over a turrible 8-3 White Sox loss at the hands of the Royals and preview the series finale. Sox On Tap is presented by OnTapSportsNet.com, your go-to source for White Sox news, analysis, and updates. Follow us on social media: @SoxOnTap | @OnTapSportsNet Panelists: @TonyOnTap | @BuzzOnTap | @NonnieJonnie | @nWi_Steve | @sean23roberts
Josh and Chris sit down to talk about which cards are performing better than they predicted as well as which ones aren't quite living up to expectations. We also do all our usual stuff like a pack 1 pick 1, cool play of the week, and Chris's Bad Beat.
Scott shares his thoughts on all the latest stories from around the sports world, recaps all the action from last night's MLB slate, touches on yesterday's bad beat, share his daily picks, and much more!
Spain talks the hideous idea of Kevin Durant returning to the Warriors, talks to The Athletic's Meg Linehan about the USWNT starting its march toward the World Cup, chats with Mina Kimes about big NFL offseason stories and kicks off "Two-A-Days" with the Jags and Lions' biggest concerns heading into camp and listener predictions for their success (or lack thereof this season). Jorge Sedano and the Washington Post's Ben Golliver share their thoughts on NBA Free Agency, Quickies covers a hot dog Bad Beat, a Wimbledon Bad Boy and two American sports heroes, plus why a defense of Kyrie Irving needn't be so black and white. Learn more about your ad choices. Visit megaphone.fm/adchoices
Las Vegas learns how Jenna Martin, owner of 2 Pupz Confectionery makes healthy dog approved treats made with grains from local breweries in Las Vegas (Mojave Brewing). Jenna holds weekly pop-up events for locals @ Mojave & Bad Beat. This true local business is based in Henderson, NV. loved by all local dogs and their owners! 2 Pupz Confectionery dog treats are available for purchase via their Instagram business page (link below). 2 Pupz Confectionery has Grain dog treats available by the dozen and cheaper than your local market prices. Cake Goodies for dogs called Pupcakes, Doggonuts or Barkday Cake which is nice for celebrating your family dog's birthday! Jenna also makes Ice Cream bites to reward your canine on a hot summer day. You can view menu and order directly from her I.G. page via DM or email special orders to email@example.com Pupz Confectionery Instagram to order:https://www.instagram.com/2pupz_confectionery/Have you thought about hosting your own podcast show? If so, I have provided links below to get you started in the right direction. Start with some gear that you already have, and a quiet space. Now you are officially ready.Riverside FM provides quality recording and virtual capabilities for long distance guest.https://riverside.fm/?utm_campaign=campaign_1&utm_medium=affiliate&utm_source=rewardful&via=coyalBuzzsprout is hands down the easiest and best way to launch, promote, and track your podcast. Your show can be online and listed in all the major podcast directories (like Apple Podcasts, Spotify, Google Podcasts, and more) within minutes of finishing your recording.https://www.buzzsprout.com/?referrer_id=1754005Podmatch allows Host or Guest to search and match candidates for your show and also matches you to be guest on other podcast shows.https://podmatch.com/?ref=1645163767343x678775731452127500 Visit Vegas Places with Coyal. Real Vegas, Real Topics, Real Business with Real Owners. Covering topics on economics, entrepreneurship, health, well-being and FOOD! Thank You for tuning in and make sure to VISIT VEGAS PLACES!Follow our social media platforms:https://www.instagram.com/visitvegasplaces/https://www.youtube.com/c/CoyalHarrisonIIISupport the show
A “bad beat” in sports betting is when you have a wager that looks like It will hit and then something unlucky happens to cost you the bet. Thomas Viola and Aaron Kessler walk through some of the most devastating examples of bad beats across different sports below to illustrate what this means. Timestamps: Introduction - 0:00:00 What is a “Bad Beat” - 0:01:10 Bad Beat: UNC vs. Kansas - 0:04:25 When to Hedge and Middle - 0:06:40 Recent PGA Bad Beats - 0:09:10 Arron's History of Bad Beats - 0:12:10 How Do You Bounce Back? - 0:15:30 Worst Bad Beats of All Time - 0:20:00 Avoid Bad Beats with Live Betting - 0:25:30
On this episode of It's a BET presented by 10K Takes and KFAN: We give our bets of the week, make up some funny prop bets we wish we could wager on, and read off some betting horror stories. Get tickets for events through us: https://www.vividseats.com/?irclickid=2OhURfVxLxyIRFGwAVRBW0UoUkD0MuyVw246XI0&utm_source=impact&utm_medium=affiliate&utm_campaign=10K%20Media&utm_content=3169109&utm_term=&irgwc=1
Josh and Chris bring lab assistant JJohn back on the podcast to talk about whether or not removal is still good in limited. They also spend way too long on a pack one pick one and includes the usual Cool Play of the Week and Chris's Bad Beat.
Josh and Chris discuss all of the archetypes of Streets of New Capenna draft as well as their first impressions of the format. Also includes weekly update, Pack 1 Pick 1, Cool Play of the Week, and Chris's Bad Beat.
On today's show, we're joined by Connor Rogers of Bleacher Report and Pro Football Focus to talk big predictions for the draft, why everyone's mock drafts are probably wrong, the fate of Yannis' teams, Malik Willis, Deebo Samuel, Baker Mayfield and more! Plus Olivia and Yannis unleash on Mike Tyson's airplane ordeal and The Nets. Plus hear the Bad Beat of the week and the best places to put your money in the Lion's Lock. Follow UsTwitter @BetMGMFacebook @BetMGMInstagram @BetMGMPresented by BetMGMwww.BetMGM.com
Nick Kostos & Ken Barkley discuss the controversy surrounding Ochai Abaji's seletion as the Most Outstanding Player following Kansas winning the National Title. Learn more about your ad choices. Visit podcastchoices.com/adchoices
Today on The Fast Lane with Ed Lane: - Ed and Trey Lyle talk about how getting VA players does not matter as much for the #Hokies and #Hoos in hoops as it is in Football - Martinsville Speedway President Clay Campbell previews the races this upcoming weekend
Jim Irizarry is in for Sean Stires today. Sean is in Norman, Oklahoma for tonight’s women’s basketball game between Notre Dame and Oklahoma. How did Deshaun Watson get the power that he had to wind up wherever
Jim Irizarry is in for Sean Stires today. Sean is in Norman, Oklahoma for tonight's women's basketball game between Notre Dame and Oklahoma. How did Deshaun Watson get the power that he had to wind up wherever
On today's episode, the boys are back together, Bruss finally got his merch but got screwed by the Celtics, Kota Cappers had a helluva Wednesday, AFC West is stacked, QBs on the move plus a surprise guest jumps on.
With March Madness around the corner, Sports Illustrated senior writer Pat Forde tells us the story of Merl Code, a former sneaker executive who claims the biggest recruits to the biggest programs are all getting paid. We take you inside the scandal that rocked college basketball. Article: Merl Code Peels Back the Curtain on College Basketball's Bribery Scandal by Pat Forde The fourth season of Netflix's smash hit Formula 1: Drive to Survive drops this weekend. Formula One reporter and digital presenter Will Buxton joins us to explain how the show's surprise success in the U.S. has created countless new fans and helped grow the sport. Article: Through the Fire and Flames by Shaker Samman Mike Garafolo of the NFL Network fills us in on the fallout over Falcons wideout Calvin Ridley and his season-long suspension for gambling. Article: Calvin Ridley's Suspension Is NFL Business As Usual by Conor Orr Special thanks to Sean Sullivan of Yahoo Sports for the Merl Code audio. It originally appeared on the College Football Enquirer podcast. See omnystudio.com/listener for privacy information.
On today's episode, the boys got some words for the MLB, Calvin Ridley got caught gambling, Kyle's brutal bad beat, we can blame paid coaches, talking hoops plus Gambling Feud with @YaNevaEvaKno.
Slip comes face to face with his past. Main Cast Skyler Giordano - Slip / Zandt Graham Capobianco - Badger Krissi Williams- Moxie Rebelle Kier Zhou - Vax Arden James Hart - Scraw Alex McPeak - Kaziban Cyros Sarah Penn - Mother Josh Leet - Father Production Notes Music written by Skyler Giordano Ambience and SFX were either created by Skyler Giordano or from Epidemic Sound under the use of Proper Licensing Special Thanks - As Always, we would like to thank our friend Riley Stekervetz for listening to this episode and helping us get it to the highest quality possible. you can find our Guests' shows below; Tales of Sada Emedu | Danger Dames | Mindless Morning Show | Rapture 518 Want to help Omega Star 7 Stay Alive? Consider becoming a Patron If you have any questions, Suggestions or Business Inquiries feel free to email us at OmegaStar7podcast@gmail.com Follow us on Social Media! - http://linktr.ee/OmegaStar7
On today's Bad Beats episode of The Real Estate Nerds Podcast, Some of you may already know Tyler Sheff from his podcast, The Cashflow Guys. Today, he has joined us on The Real Estate Nerds Podcast to share one of his legendary worst deals. Tune in to Episode 51 of The Real Estate Nerds Podcast now to hear Tyler's full story and the full breakdown of his Bad Beat.Listen To Episode 51 of The Real Estate Nerds Podcast NowTyler Sheff on the Value of Processes and Sticking With Your TalentsOur host and attorney Scott Smith welcomes “Cashflow Guy” Tyler Sheff to the show. Tyler has chosen to share about one of his worst deals today.[1:00] Scott invites Tyler to share a bit about his background before they dive into his worst deal. Tyler describes himself as a “recovering house flipper” who made a lot of money, and also got hit with a massive tax bill once the money started rolling in in the early-mid 2000s.[2:30] Tyler quips: “Back then I used to think that my charm had an effect on the IRS. Turns out, they don't really care.” After paying a six-figure tax bill, Tyler resolved to learn more about building wealth and shifted his attention to buy-and-hold investing in 2012.[4:00] Scott asks about the beginnings of Tyler's worst deal. Tyler opts to introduce it with another side story, pointing out that most of what he does now is teaching others about investing. He negotiated what he thought was a great deal on an off-market fourplex, and had attorneys draft closing paperwork according to a partner's requests. They closed and began renovations, which essentially doubled the value of the property. Only when he went to sell the building did he realize the other party had never signed their agreement with him. “They literally stole a $400,000 building,” Tyler points out--adding that he did all of the work and saw nothing for it.[7:00] Scott asks Tyler what got him so motivated that he overlooked aspects of due diligence like checking signatures. Tyler points out that, “If you're smart, you learn your lesson and put systems in place” to avoid repeating mistakes. Tyler believes his biggest failure was ignoring his own systems. Scott agrees that ultimately, a business's systems are what will allow it to grow.[10:00] Tyler emphasizes the importance of sticking with what you're good at in investing: “Investors should pick a piece that they're good at and stick with it.” He and Scott point out that this is partially the role of real estate professionals--to keep investors on the track of looking for new deals or otherwise doing what they do best.[12:00] Tyler points to some of his experience as a licensed real estate agent, and what he does in “realtor mode.” The two investors talk about what a debacle closing becomes when nobody has a good process “checklist.”[Tweet "“Investors should pick a piece that they're good at and stick with it.” - Tyler Sheff, Episode 51 of The Real Estate Nerds Podcast"]A Victorian Dream Home Turned Worst DealScott and Tyler get into the details of the Worst Deal Tyler came onto the show to share today. They go through every twist of what went wrong.[14:00] Scott asks Tyler to set the stage for his worst deal. In 2001, Tyler found a listing that was on the market for $40,000: A 3,000 square foot Victorian home in a nice neighborhood. Tyler believes the property would have been worth roughly $350,000 in “fixed-up condition.” He had one friend front money, while Tyler went out and found opportunities and handled sales. They had a second partner who was a contractor. Together, they were cash-buyers. [16:00] When the young partners arrived on the property the next day, there was a literal crowd. Tyler approached the agent, offered $50,000 and to close in a week, and the deal was as good as done right there. “Deal of the century right? Well, from there it proved otherwise.”[17:30] Tyler had been a police officer in the same town where the property was. One day, he was at the property waiting for a material delivery. Home Depot claimed they had delivered the materials, but provided the wrong address, stating that Tyler's partner had come in and changed it. Tyler discovered the contracting partner was embezzling from his company. Tyler and the banking partner realized they had been wiped from over $300,000 in the bank down to $10,000. They had the option to sue, but soon realized they couldn't serve the partner, who had run back to his home country of England.[19:30] The partner who had embezzled from Tyler and his partner attempted to slow actions against him by reporting the pair to to city for his own contracting negligence. However, Tyler and the other partner soon discovered his contracting was part of the con as well. They had never bothered to verify his license because he was a friend.[20:30] The City Inspector comes to the house based on the ex-partner's report, only for Tyler to realize he knew her from having arrested her son on drug charges. Tyler demanded the City send a new Inspector. However, the first one had already found Termite Damage and the City issued a demolition order.[22:40] Scott recaps Tyler's story so far which includes: 1. $290,000 literally stolen from him by a partner , 2. A crazed building inspector with a personal vendetta against our dear investor busting up the building in his absence. And all of this took place within about one week.[23:40] Tyler explains how he essentially put every spare dollar into this building for the next few years. It took time, but they solved the property's problems in small increments, one at a time.[26:20] Scott asks about how Tyler got the City on his side when he wasn't in a great position and how he developed that relationship. Tyler credit's brutal honesty--that at no point did he try to lie his way out of his problems--with helping cultivate that relationship. He was also highly respectful in his dealings, albeit blunt that he had a “colossal nightmare” on his hand. [29:30] When Scott expresses amazement at some of the relationships Tyler built under these circumstances, Tyler explains: “I was humble, and I truly believe the best in people.” He also believes most people are generally agreeable face-to-face, and will help you if you're determined.[31:50] Scott points out that vulnerability and honesty are often the keys to human connection. Tyler makes a parallel to the court system. Scott shares an anecdote that highlights Tyler's point. What won the case Scott talks about was just reasoning with the judge in a basic, “two guys talking” way.[35:30] Scott wonders if connection is its own kind of revenue. “Absolutely,” Tyler says. “Any time you're working face-to-face, you'll be more successful.”[36:30] Tyler's property ultimately never profited. Proceeds from the sale went towards paying back the partner who acted as the bank. They were proud of the quality of the job they did with the rehab, and he believes the buyers got a great house. “We left it better than we found it,” he says.The Take-AwaysScott and Tyler each share their favorite take-away from Tyler's Bad Beat story.[38:00] Scott's take-away is the fact that he credits Tyler's success with his ability to stick to his word.[38:30] Tyler's take-away is simple: “Never assume the answers to the questions that you haven't yet asked.” Scott agrees, and takes it a step further, encouraging investors to hear “no” more times than they think is necessary before accepting it.
Kathy Fettke's early career was nothing but clear skies. So when a storm came, in the form of the recession, she didn't have the experience to be prepared. On today's episode of The Real Estate Nerds Podcast, our host and real estate attorney Scott Smith interviews Kathy Fettke about her all-time worst deal. Learn how Kathy lost big twice, what she had to do to recover, and how she now uses her famous Real Wealth Network--and their combined experience--to avoid future bad deals. Thanks for joining us!Listen To Episode 26 of The Real Estate Nerds Podcast NowKathy Fettke on Her First Bad Deal & Not Listening to Her Own AdviceScott welcomes investor and coach Kathy Fettke to the show. The two investors chat about Kathy's early real estate career and the prelude to her deal.[1:00] Kathy now makes a habit of partnering with people who have survived down markets. She began investing in 1997 by buying her first house and turning it into a fourplex. “It quadrupled in value in a 10-year span...What did I know about real estate? I only knew that if you bought something, it makes money.” [2:27][2:48] Kathy stresses the importance of knowing the downsides of markets, reinforcing her thoughts on partners: “Would you get into an airplane with a pilot who had only flown blue skies? No. You want to know that they can survive the storm.”[3:10] Scott asks how Kathy developed her substantial network. She began developing her network when her husband received troubling health news. The two burned through their savings amidst uncertainty. During this time, Kathy set about learning how to create real, lasting wealth. She started by simply interviewing investors, one after another. The Real Wealth Show was born.[4:30] Today, Kathy has an audience of over 40,000 members looking to her for advice on cash-flow and investing strategies, as well as networking opportunities. Scott points out that her success and growth are underscored by her tenacity in the face of challenges.[6:00] Scott and Kathy fast forward to 2007 to discuss the beginnings of Kathy's deal. Kathy credits The Real Wealth Show with helping her identify over-leveraged markets where homes were under-valued. She had a connection that helped her learn about the opportunities available in a down market.[7:20] Kathy speaks a bit about her decision making process: “First of all, you have to trust your gut.” Common sense told her that the lending crisis was inevitable. She followed the instructions of the trusted mentor who helped her learn about preparing for the fall-out: “I wanted to own real estate where people could pay loans, where housing was affordable. That was Texas.” [7:35] She bought 14 properties, all of which performed well[8:13] Kathy points out that she was teaching other investors as she went along, and knows exactly what her first mistake was: “I stopped listening to my own advice.” She realizes in retrospect she thought she was smarter than the smartest people she had advising her. She explains her rationale to Scott about why she deviated from the path that she encouraged others to follow. She figured diversification was good, and that she didn't want to overinvest in Dallas.[9:00] Kathy elaborates on her flawed logic: “I thought I could use the same reasoning and go find areas that had job growth and population growth. But somehow I didn't pay attention to those two metrics that I was teaching.”[9:30] Kathy briefly discusses the media's role in her decision making. She has a journalism background, and bought into some media hype about Boise, Idaho. She knew from experience, but disregarded one of the main lessons she had already learned, which was to “Follow the jobs.” Where people need jobs, they will also need housing. In the case of Boise, the job market wasn't growing--and neither was the population.[10:50] Kathy shares a second rule that she broke: “Always invest in a metro area that has at least a million people, because if half are renters, you have a larger pool.” She believes she ignored her own advice based on Zillow metrics, and getting excited and big-headed.[11:30] The two investors talk about how easy it is to be taken in by buzz and popular thought. Scott briefly paraphrases Oscar Wilde's notion that “Everything that is popular is wrong.” If enough people say something, even smart investors can begin to accept it as truth without truly investigating. Scott and Kathy chat more about the emotional context of this deal, and how ego can cloud judgment.[13:12] Kathy thinks her problematic thinking was even more basic: “It was more lack of experience mixed with too much eagerness.” If anything, she believes she got a little greedy.[14:00] In the case of Boise, Californians were moving to the city and driving some prices up. But Kathy was moving on pure speculation rather than observable metrics: “The properties didn't make sense the day I bought them, and they didn't cash-flow.” [14:36] She couldn't manage her way out of the problem, either, and ultimately sold the property at a loss. [Tweet="I'm damn glad that I kept pushing forward."]Kathy's Worst Deal That first deal Kathy mentioned wasn't even the worst deal she's here to tell us about. Her all-time worst deal took place several states over in Tennessee. She and Scott conduct a little post-mortem of her Bad Beat together. [15:00] Kathy shares about her next, even more painful deal. She continued hunting markets around the country and found an area in Tennessee, but it was low on inventory. She made a deal with a builder, who agreed to give her network 10% of what he built in exchange for her purchasing some of the properties.[16:30] What got her into trouble with the first deal she talked about came back to bite her a second time: “Again, I didn't follow my rules about following the jobs. This was vacation property.”[17:00] During the building process, the market crashed. Kathy shares with Scott about how her failure to read the fine print on one loan led to a major problem. She was forced to refinance, and while investor loans were previously unlimited before the crash, banks were placing hard limits on the numbers of loans investors could have. Unfortunately, in Tennessee, you can actually go to jail for failing to pay debts--and the loan in question was in her husband's name. What had started out as a labor of love ironically ended in a painful predicament.[19:00] Just as timing had a role in getting Kathy into this problem, it also played a role in getting her out. Given how many people were having loan issues, new legislation passed that took jail for nonpayment off the table. She doesn't know how she would have solved the problem without this legislative intervention. Simply selling isn't an option in a market downturn.[20:00] Scott asks if Kathy had a more experienced investor on board for these deals. They discuss the delicate balance of not deviating from models that work, while also leaving room to grow. She shares about learning from her experience, and believes she over-corrected in hindsight: “I missed an opportunity because of my fear of ever making mistakes again.” She was afraid to take properties that weren't cash-flowing, but would have been lucrative if she had taken them.[23:00] The two investors discuss the issues involved in market downturns. Scott points out one famous investor who dropped out of the market for four years when faced with a downturn. Kathy responds with the importance of taking the temperature of the market. [26:00] Kathy shares an anecdote about a misguided investor who believed C-class properties will always be in demand: “In reality, the way it works, is everything kind of goes on sale...What happens in a downturn is the people in the nicest properties have to downsize into a B property, and people who have been living in C properties can now afford the B. The safest place to be is in the middle.”[27:27] When asked if there are ways to learn without experience, Kathy tells Scott: “It's a rare person who can make the right decisions without experience.” She does believe that you can account for inexperience, and circles back to her airplane analogy: “If you don't have the experience to navigate a storm, you need a copilot.” [28:18] This is particularly true when you're investing other people's money as well as your own. She now has experienced team members on her network to help with areas where she isn't as experienced.[29:10] Scott asks what younger investors with less experience bring to the real estate networking table. Kathy, who is often the younger party in her own deals, believes younger people bring understanding of the culture to their deals. She herself had to explain what a webinar is to another investor. Experiences like this have shown her that “Younger people can bring the technology and marketing that older people are clueless about.” [30:25] Young investors also have high amounts of energy, drive, and willingness to learn and work hard.[31:00] Kathy knows her own place in her network, as well: “I fill up a room, bring my experienced experts, and together, we make it happen.”The Takeaways: Challenge What You Think You Know & Get Experienced Partners to Help YouAs always, we like to wrap up the show with the greatest takeaways from Kathy's story. Kathy and Scott each share their opinion on the strongest lessons listeners can learn from Kathy's Bad Beat experience.[32:00] For Kathy, the major lesson is to contain excitement. She dove directly into the deep end of investing and found herself lacking in experience. Her advice to new investors is simply “Jump in, but jump in with a partner who's been there before or do an enormous amount of studying.” [33:50][34:00] Kathy underscores her point about doing your homework: “Real estate isn't that hard or that complicated, but a lot of people mistakenly believe they don't need the education.” Scott agrees that this is vital, as is analyzing the details of any particular deal. [35:00] Scott points out that Kathy's story is a cautionary tale about the influence of mass media messaging, and the importance of challenging beliefs we take for granted. Identifying the truth amidst buzz is a skill that requires practice, as is challenging one's own belief systems.
Welcome back to the Real Estate Nerds Podcast! On today's Bad Beats episode, real estate investor and entrepreneur Mitch Stephen joins our host, attorney Scott Smith, to tell us about the details of one of his deals--and he has made plenty of them. But today, instead of concentrating on his successes, the two investors will conduct a postmortem on one of Mitch's all-time worst deals. Mitch Stephen's Bad Beat: Lots and LendingScott welcomes Joel onto the show. The two investors discuss[1:00] Mitch owns about 1500 houses in the San Antonio, TX area. He began his real estate career in 1996 and averages 100 new real estate purchases per year. He excels at raising private money, with $12-13 million currently under his control. He also began loaning money to competitors for additional income.[2:40] In fact, Mitch's bad beat began with an ill-advised lending transaction. He wasn't familiar with the person requesting the loan or type of loan, and it was outside of his typical wheelhouse. This would later become a fatal flaw, but he's learned his lesson: “It seems like every time I get out of my lane, I get hit by a truck.” Scott agrees that this is important: “Stay in your lane. Do what you know how to do.”[3:00] Mitch new how to survive the recession in real estate, but he wasn't as comfortable with his lending business. He received a request to make a loan for 15 properties in a gated community that averaged $120,000 apiece on 1-acre lots. He knew how to make loans on little houses, but not how to execute a $15 Million loan.[4:30] The two investors discuss the temptation to deviate beyond your area of expertise. In his ordinary career, he always had ways to make his money back in the event of a defaulted loan: “If you can't sell your house, what can you do with it? You can rent it.” [4:55] Mitch expressed his concerns about their inexperience to his partner, but the two were drawn in by the high value and projected return rates on the loan.[6:00] The nature of lots as an asset class meant that Mitch's usual “exit strategies” weren't available to him. [7:30] Mitch made the loan, and not 30 days later, Countrywide went under, officially starting the 2009 recession: “Within 15 days, every bank in the world was dried up and confessing that they were insolvent too.” [7:59] So within that month, he had every lot back and nobody set foot on one for roughly two years. Banks were reluctant to loan to even those with excellent credit in the wake of the crash.[8:45] This bad timing made the deal go South immediately. $750,000 was the average home price in Mitch's area. He points out that “That market is the first market to die in a recession.” This left Mitch in the position of owing $8,000 a month for the next 2.5 years.[9:15] Mitch didn't sell his first lot for 2 years and 6 months, and didn't sell all of them for four years. The properties were essentially burning a hole in his pocket.[10:21] Mitch was able to endure this loss for a couple of reasons. The first is simply about his own financial responsibility: “For as wealthy as I am, I'm ridiculously frugal.” He also credits his partner, who took on half of the costs. That partner had another partner who stuck with them both. In these ways, Mitch was able to keep his head above water, even in the face of rising property taxes.[11:30] This combination of factors meant this Bad Beat didn't compromise Mitch's quality of life: “Even though I took a hit that was unpleasant, it didn't affect me that much because I've been a good steward of my money my whole life.” Scott observes that Mitch was smart because he had built habits that made this gamble worth taking. Even if he lost big, he wouldn't struggle to fill his gas tank or enjoy a high standard of living.[13:00] Scott points out that there are great deals that come from outside of our comfortable investment classes. He asks how Mitch balances these opportunities, and the two agree that it's important to get advice from an expert in the asset class that is new to you. Mitch feels the right advisor with the right experience could have made an excellent partner, who may have been able to predict the recession and its impact on the class.[13:50] Scott agrees and offers this tip to new investors, or investors in new asset classes: “When you're first getting involved in real estate transactions, always partner with somebody else who's experienced in that area to some degree.” [15:00] Mitch points out that federal regulations forced banks to divest their exposure in real estate. On top of negative cashflow, the bank wanted to demand $1 million back within 8 months.[16:00] Mitch tells Scott how he coped with this immense level of stress and many problems: “You wake up early, you go to bed late, you attack your problem head on, stay busy so busy confronting your problems the problems that you don't have time to worry about it.” He was fortunately able to get private loans to make up for the bank's demand.[17:30] Mitch shares his strategy for recession-proofing his current portfolio in the event of another recession.[18:30] The two investors share their strategies for avoiding burnout. For Mitch, he engages in a daily prayer practice to draw strength, get centered, and open his mind to creative solutions to his problems. Scott recognizes that highly effective and successful people seem to have systems for [19:31] Mitch has another tip for making it through hard times: “When times get tough, I stop drinking and doing all that fun stuff to stay focused.” Scott agrees this brings clarity and raises energy to take care of one's health.[20:43] Scott shares his own unusual piece of his morning routine. Before work, he boxes for an hour every day. His logic is that it shows him his strength and what he can make it through: “I already did three rounds this morning, there's nothing that's gonna hit me harder than my coach's right cross!”
On today's episode of The Real Estate Nerds Podcast, we get to hear about both a Bad Beat and a Best Deal--because in the real world, sometimes they happen right on top of each other. That has certainly been the case for multi-family investor Ola Dantis. Tune in to Episode 50 of The Real Estate Nerds Podcast now to hear Ola dish about one of his worst deals, a bonus Best Deal, and many of the lessons he has learned along his path to real estate success.Listen To Episode 50 of The Real Estate Nerds Podcast NowOla Dantis on Multi-Family Investing, Freedom of Mind, and Freedom of TimeOla Dantis sits down with our host and attorney Scott Smith. The pair of investors chat about Ola's real estate beginnings and the ambition of all real estate investors: freedom.[1:00] Ola is originally from the U.K. but has lived in the U.S. for the past five years. One day he received a call from a friend whose business was taking off. The friend wanted Ola to invest in his business and invited him to learn about the opportunity in Dubai. Ola explains: “I did what any wise man does: consulted my wife.” [2:30] The two argued about the value of the trip, but Ola ultimately decided to go in hopes of learning something valuable.[3:00] Ola ended up making the trip to Dubai, and spent the majority of it in his hotel room dissecting his friend's business. He observed that his friend's real estate business was doing very well back home in London. Ola decided to do the same thing in the United States and was buying his first properties within three months.[4:00] Scott asks how Ola's plan evolved over time. Ola points out that his trip changed everything. When he got back, he began diving into researching many investing books, podcasts, and forums like BiggerPockets. One book that was influential for Ola--and many other investors, was Robert Kiyasaki's Rich Dad, Poor Dad. [6:00] Once he'd finished Rich Dad, Poor Dad, Ola moved on to reading “more tactical content” about real estate investing to construct an investing plan. He settled on multi-family as his asset class of choice, explaining “Our first property was a multi-family. That's how I got into it.”[7:00] Ola knew from the beginning he wanted a business that was in some form passive. He uses this language because he recognizes “Real estate is never totally passive. If you're not a creator or syndicator like myself, you can't just be somewhere on a beach and your business runs. You have to manage the property manager.” He does acknowledge that you can be a passive investor on some deals, but to a degree you will typically be taking some action. When asked about his motivations, he says: “It's about freedom of time and mind.” For him, true freedom of choice was tied to making good money.[9:30] Scott probes Ola on whether money is a prerequisite to certain kinds of freedom. Ola points out the variety of experiences that are only available to those who have achieved a degree of financial stability. Pursuing truly ambitious goals generally does require capital. Ola believes this is also true of “freedom of mind”--and points to some of the experiences that combat the modern problems of anxiety and depression. Money can be used towards fulfilling activities.[11:30] Scott points out that there's a trade-off in freedoms. You may be able to use real estate to quit your job, but you will still have to manage your investments. Ola points out that he sets goals in terms of which freedoms he hopes to pursue: “I don't have to be a billionaire at the expense of spending time with my daughter..I don't have to be a billionaire at the expense of my soul.” He believes balanced goals are as important as goals that are specific and measurable.[14:00] Scott asks about fears or anxieties that Ola has overcome. Ola speaks to a fear that is fairly common among real estate investors: “If I get very successful, will I still be the same person?” He also has fears of failure, but believes both can be addressed through consciously not growing too quickly and simple awareness. [16:00] In reference to anxiety, Ola points to social media. He worries at times about the social media culture of artificial happiness, and projections of unrealistic standards of looks and success. This gives him concerns for his young daughter: “Our kids grow up into a culture of constant polished images of nonreality. It's just not true.” He also recognizes the utility of social media for real estate, and has raised a substantial amount of money on Instagram himself.[18:00] Scott points out many of us use social media to compare ourselves to others in a negative way. He wonders whether there is a more positive way to use these tools. For Ola, it's all about realism. He thinks if people posted truer reflections of their life, social media could have a more positive impact on the world. “Make sure you're pushing out reality,” Ola advises. [20:30] Scott and Ola reflect on why people go to such great lengths to create ornately artificial impressions of themselves on social media accounts. For those who use social media deceptively, Scott warns, “You're only tricking the people that are at the bottom tier of awareness of society. Everyone else has already picked up that there's just no way your life is that great. It's just not realistic.”[Tweet "“Our first property was a multi-family. That's how I got into it.” - Ola Dantis Episode 50 of The Real Estate Nerds Podcast"]Ola Dantis on One of His Worst DealsScott and Ola transition into a real estate war story of one of Ola's worst deals. As an avid podcaster and podcast listener himself, Ola is particularly excited to share about one of his worst deals. While he loves a great success story as much as anything else, he shares our opinion that discussing our worst investments can be extremely valuable.[23:30] Ola had gotten into a partnership and bought a large house in Baltimore, Maryland. He wasn't accustomed to buying houses that large--2500 square feet. He also knew personally he did not want to do a flip, since he preferred more passive investments and flipping is extremely active.[24:40] Ola, despite knowing that he didn't want to do flips, got drawn into the project after being promised high profits near $50,000. He freely admits he got overexcited. They bought the house, and it simply sat for the next three months. They did some very small repairs but the entire project took nearly seven months to finish. For the beginners in the audience Ola points out, “If you're doing a fix-and-flip, you want to be done in about 3-4 months from start to finish.” [25:52][26:00] For each additional month that clicked by, Ola was paying interest to his hard money lender. Contractors weren't completing their work on time. He knew from his projections that his budget would be higher. He knew rebuilding such a large house would be a massive project, but he didn't realize it would take so long.[28:00] If you get into real estate, according to Ola: “You're going to fail...It's okay. Don't give up.” He believes if you tell yourself you can succeed, you will. Things just happen in real estate, and that's okay. It's still a powerful vehicle, even if you get beat up a bit along the way.[30:30] Scott agrees and adds: “You can only say ‘I'm a failure,' when you stop. Otherwise, you're just learning on your path to success.”The Other Side of the Investing Coin: One of Ola's Best Deals and Today's Take-AwaysWe were fortunate to also have time to hear Ola tell us about one of his best deals, which teaches some slightly different lessons. Then, each investor shares their favorite take-way for our listeners from Ola's story.[32:00] Ola shifts gears to tell us about the property involved in one of his best deals, which also happened to be his earliest. In fact, it was his first multi-family investment property in a “good area” of Baltimore.[33:00] Ola's team remodeled the home and installed new appliances. Now, “This thing cashflows like a monster.” He points out that sometimes good deals and bad deals happen right on each other's heels, and real estate can just be an “up and down game.”[34:00] For Scott, one of the major lessons he learned from Ola's story was the importance of moving in the right direction. Fears and anxieties are normal; it's all about which action you take.[35:00] Ola has two lessons: “First and foremost, real estate is an abundance game. There's enough to go around.” He adds that the other major lesson is that real estate isn't a get-rich-quick scheme, but a long-term plan. There will be ups and downs, and how you handle them will determine your success. [Tweet "“You're going to fail...It's okay. Don't give up.” - Ola Dantis, Episode 50 of The Real Estate Nerds Podcast"]Connect With Ola DantisConnect with Ola on his website, InvestWithOla.com. You can also find him on Instagram most often out of his different social media accounts.Listener ResourcesThank you for joining us on today's episode of the Real Estate Nerds Podcast. For even more free educational resources on real estate investing and the law, check out the Royal Legal Solutions blog. You can also reach our host Scott Smith directly, connect with him on LinkedIn, subscribe to the Royal Legal Solutions YouTube channel, or join our investor community on Facebook.Don't forget to subscribe to stay up to date and have the most current episodes of the Real Estate Nerds Podcast directly in your listening library. Every subscription helps us create new, custom content for you. What did you think of today's episode? What would you like to hear more about in the future? Leave your thoughts and questions in the comments section below, or leave us a review in the iTunes store. We love hearing your feedback, so fire away. Join us again next time for another fascinating conversation. Thanks for listening and joining us on our journey to become better investors!