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Best podcasts about biggerpockets

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Latest podcast episodes about biggerpockets

Millennial Investing - The Investor’s Podcast Network
REI098: You Can Buy Real Estate from Colleges w/ Michael Stohler

Millennial Investing - The Investor’s Podcast Network

Play Episode Listen Later Nov 29, 2021 37:04


IN THIS EPISODE, YOU'LL LEARN:19:05 - Why Michael decided to start focusing on hotels as an asset class and as his strategy.26:05 - Why he believes that hotels typically perform consistently regardless of market conditions. 30:25 - How to evaluate or underwrite potential hotel investments.31:12 - What Michael's buying criteria is for potential hotel investments.33:09 - Why he started employing virtual assistants and how he utilizes them in his real estate business.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.EPISODE RESOURCESGet more FREE content from Robert.Get a FREE audiobook from Audible.Read the 9 Key Steps to Effective Personal Financial Management.Check out our Investing Starter Packs about business and finance.Learn about our Investing Starter Packs on real estate.Michael Stohler's The Richer Geek Podcast.Michael Blank's book Financial Freedom with Real Estate Investing.Reed Goossens' book Investing in the US.Ramit Sethi's book I Will Teach You To Be Rich.Michael Stohler's favourite book: Money Secrets of the Rich by John Burley.Find great markets to invest in with Wiserei.Real estate education platform BiggerPockets.All of Robert's favorite books.Support our free podcast by supporting our sponsors.Save with a credit union that helps you build financial confidence with Navy Federal Credit Union.Hear about surprising bank vulnerabilities, learn about crypto thieves, and investigate the old dangers in our new media environment with What the Hack with Adam Levin.Switch to Mint Mobile and get premium wireless service, starting at JUST $15 bucks a month, and get the plan shipped to your door for FREE.You can get a complete home security system starting at just over $100. There are no long-term contracts or commitments. It's a really easy way to start feeling a bit more peace of mind. Get 50% off your next order at SimpliSafe.com/Millennial.Impress your audience and yourself. Enjoy presentations for free with Canva.Read this episode's transcript and full show notes on our website.Connect with Michael: Website | LinkedInConnect with Robert: Website | Twitter | Instagram See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

BiggerPockets Money Podcast
253: 7-Figure Net Worth on a Middle-Class Salary w/ Adam Zaleski

BiggerPockets Money Podcast

Play Episode Listen Later Nov 29, 2021 83:58


On the last day of a semester in college, Adam Zaleski's geology professor dropped a bomb on his class: the professor was worth a staggering $10,000,000! The reason for telling the students about his net worth wasn't to impress but to make the case that exponential growth is more likely than most people think. This taught Adam that he needed to choose a profession he enjoyed so he could continue to work, invest, and grow his wealth exponentially, just like his professor. Adam did just that, and now, he's a millionaire professor, working a casual thirty hours per week, doing what he loves! Adam knew from the beginning it was more important to make long-lasting, intelligent financial decisions, instead of chasing after a bigger salary. He did this right out of college, taking a serious pay cut to live in a state with far cheaper housing, allowing him to house hack, build wealth, and reach financial freedom.Now, Adam is looking to expand his real estate empire a little further, without having to sacrifice a large amount of time to do so. If you're interested in partnering up with Adam or looking to chat about long-distance real estate investing, market analysis, or the best surf spots in Kauai, shoot Adam a message on BiggerPockets!In This Episode We CoverWhy lifestyle choices are important when choosing your job, house, and investments Understanding the value that comes with exponential wealth growth House hacking and analyzing real estate markets with the most growth opportunity Buying rentals in places you love, so you can write off the trip!Scheduling your rent raises so you keep up with market cash flow The most important financial lessons of your 20s, 30s, and 40sAnd So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli
Wholesaling & Flipping 50 Deals in 3 Years with No Experience with Arvi Carkanji

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli

Play Episode Listen Later Nov 26, 2021 47:10


When you get into the real estate space with no experience but tons of determination, it's a recipe for some incredible lessons to be learned along the way if you can adjust and move forward. Originally from Albania, Arvi Carkanji started investing in real estate right out of college after finding out about it, and no matter the missteps never looked back.She bought her first flip in 2019, renovated it, sold it and broke even. She then got a 2nd flip and a 3rd one, in which she ended up house hacking. After 3 years of wholesaling and flipping deal after deal, Arvi, and her fiancé, realized that they were 50 deals in without having started with any experience! Since then, Arvi took her experience and started laying the foundation to scale her business, Money Making Duo, focusing on marketing and creating wealth for others. She now has a team of 10 people who play crucial roles in the company. In this episode, we're going to break down every lesson Arvi learned into actionable steps that will help you scale! So tune in and learn from her journey of wholesaling and flipping 50 deals in 3 years with no experience. Quotes• “I was like, you know what, I can do this. Whatever comes my way, I'm just gonna handle it.” (12:46 - 12:50)• “The first thing that I learned is that I'm not good with contractors or handling budgets, you know, and inspections and all this other stuff. So I was like, I need somebody to help me do all of this.” (14:20 - 14:30)• “So the main thing I did when it came to - alright, like this is serious, stop with all the BS; is to have a central system to handle all my leads.” (21:35 - 21:45)• “Whether it's cold calling, or direct mail, or whatever it is, just be consistent in that. Whether it's 100 leads that you're calling a day or a week, just keep doing it, don't stop doing it, because that's going to convert into deals.” (26:43 - 26:57)• “I always consider marketing as like the bloodline of the business and sales is like your brain. The two can not function without each other.” (29:08 - 29:15)• “Hiring is so very crucial for your company and part of the foundation. If you have everything else in place, but you have the wrong person in the wrong position, it's still gonna cost you money.” (35:53 - 36:05) Connect with Arvi Carkanji:IG: @arvi.carkanjiWebsite: https://moneymakingduo.com/ Book recommendation: The E-Myth Real Estate AgentThe Simplifier-Multiplier 3 DAY VIRTUAL EVENT on Dec. 6th, 7th, and 8th!We have planned a powerful 3-day virtual event “How to Build Partnerships that Last” on 12/6, 12/7, 12/8 at 7 pm EST!We are confident PARTNERSHIPS are the key to leveraging your time, funding, and skillsets. You can't buy yourself more time, but you can certainly “buy” someone else's time so you can start living the life you choose today.Here is what you can expect:• Learn the foundation of building a lasting partnership• Purpose of partnerships: short term vs long term partnerships• How to optimize alignment and leverage diversity• Learned lessons from our best and worst partnerships• Partnership structures: with RE attorney Bonnie Galam and CPA Amanda Han• How to set yourself up to attract rockstar partnersGrab your ticket today!https://www.therealestateinvesther.com/3-day-event-partnerships The Real Estate InvestHER Membership Our Membership focuses on three pillars: Real Estate Investing, Business Strategies, and Self-Care. We provide a financial freedom road map for women to create steady recurring income to live life on their own terms. Start today with our FREE membership level.https://www.therealestateinvesther.com/membership Your Voice Matters. We appreciate your feedback and would like to hear from you. Click here to answer a few questions about our podcast: https://airtable.com/shr8fJS0a0uHedcza Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvestherYouTube: https://www.youtube.com/channel/UCQHEyioz1vC3w5Nx7qm-n0gSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

BiggerPockets Money Podcast
252: Finance Friday: Self-Employed Revenue, Health Insurance, and Hiring

BiggerPockets Money Podcast

Play Episode Listen Later Nov 26, 2021 52:41


It takes a leap of faith to leave a W2 job and wander through the hills and valleys of self-employment. With the right skill set, time management, and perseverance, you can come out more profitable (and happier) than you were originally at your old job. But, once you succeed, it may be hard to slow down the self-employment train, and your side-gig could become a full-on business, with the need for employees.TJ has put herself in a phenomenal position, both financially and income-wise. She left her job to become a full-time consultant but knows she won't be able to expand without hiring her first employee. Her business would need an employee to bring in more revenue, BUT she needs more revenue to bring on an employee. What would you do in this situation?Scott and Mindy have both spent time outsourcing and hiring before. They help TJ develop a roadmap to getting her first hire on board while keeping crucial revenue in the business. This episode also dives into self-employed health insurance, project management, and hiring a junior position that can grow into a senior in little time. In This Episode We CoverWhy it's imperative to keep your costs low while trying to run a business What to do once you've hit your max capacity for work at your business Whether or not now is the time for you to hire your first employeeFully mapping out the cost of a full-time vs. part-time worker on your teamPutting together a business plan that allows you to forecast your business's future Health insurance while self-employed and why an HSA plan may be your best betAnd So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

NJ Real Estate Radio: A Podcast for Home-Buyers and Investors
Client Success Stories: Meet Two-Time Northern NJ House Hacker Jeremy

NJ Real Estate Radio: A Podcast for Home-Buyers and Investors

Play Episode Listen Later Nov 24, 2021 68:09


I'm very excited to bring you this episode, because it is my first interview with a client.  Jeremy shares his journey as a 23-yr-old with a desk job he realized he didn't want to be in for the next 40 years to catching the real estate bug to buying his first "house hack" to running out of space during the first year of the pandemic and deciding to get his NEXT property to "house hack".  In the span of just 2 years, Jeremy went from living in his parents' basement to owning 2 properties (4 doors), having 3 tenants, and gaining priceless experience as a house-hacker, landlord, property manager, and real estate investor.Jeremy shares some wonderful pieces of wisdom about his own journey so far, some of which may surprise you.If you've been thinking about buying your first property to "house hack", you do not want to miss this episode!Check out Jeremy's blog:  The White Tee Way – Real Estate Investing & Personal FinanceFollow him on Instagram: White Tee Jay (@thewhiteteeway) In the episode, I mention an article I just published about my biggest lessons learned from my first year as a real estate investor.  Here is the link:https://www.biggerpockets.com/member-blogs/12660/96326-6-lessons-i-learned-from-my-first-investment-propertyAnd if you enjoy listening to this podcast, please share it, subscribe, give it a thumbs up, and leave a review.  Thanks for listening!

Working Capital The Real Estate Podcast
Finding & Funding Real Estate Deals with Anson Young | EP80

Working Capital The Real Estate Podcast

Play Episode Listen Later Nov 24, 2021 36:53


Anson Young is a Real Estate Agent and Investor with Hundreds of Transactions Completed in Each Category of Real Estate. Anson and his team Specialize in Marketing directly to Sellers for Off-market Deals, Using Many of the Methods that can be Found in his Book Finding & Funding Great Deals. When not Working, Anson can be Found Exploring the Wilds of Colorado's Rocky Mountains with his family, Reading Favourite Books to his Son, and Attending Loud Rock Concerts. In this episode we talked about:  • Anson's Bio & Background  • Anson's First Steps in Real Estate Business  • Becoming a Real Estate Agent   • Anson's Main Focus in Real Estate  • Raising capital   • Private Landing  • Sourcing Deals   • Building an Off-Market List  • Prospecting and finding  Opportunities  • Anson's Thoughts on Inflation and Interest Rates  • Mentorship, Resources and Lessons Learned   Useful links: https://www.instagram.com/younganson/?hl=en https://www.youtube.com/c/ansonyoung Transcriptions: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Right? Ladies and gentlemen, my name's Jessica galleon. You're listening to working capital the real estate podcast. Our special guest today is aunts and young Anson is a real estate agent and investor with hundreds of transactions completed in each category, real estate Anson, and his team specialize in marketing directly to sellers for off-market deals, using many methods that can be found in his book, finding and funding great deals when not working ants and can be found exploring the wilds of Colorado with his family and tending loud rock concerts.   And I can see you got a twig behind you there, and son, how you doing?   Anson (54s): I'm good. I'm good. Thanks for having me, Jesse.   Jesse (56s): Yeah, my pleasure having you on, what do you got there? Is that a base? It's hard to tell because   Anson (1m 1s): That one's a five string bass.   Jesse (1m 4s): I like it. Fantastic, man. Well, thanks for coming on. We were just chatting before the show, like a few of the most recent guests you were speaking at BP con this year, what was, what was your topic?   Anson (1m 17s): So my topic this year was finding the deals in any market and it focused on kind of out of state investing or long distance real estate investing, building a team, you know, how basically how to go ahead and find those deals, whether it's networking or off market. And, and yeah, that's seems to be a hot topic. Everybody's market is too expensive. So they're looking at other markets and I figured I'd hit on that since that's what I'm doing too. So   Jesse (1m 47s): Yeah, absolutely. It's certainly topical right now. It's we kind of joke around about the inverse relationship between, you know, the, the lower interest rates are, the cheaper money is the harder it is to find deals.   Anson (1m 59s): Oh yeah, for   Jesse (1m 60s): Sure. So in terms of a little bit of your background for listeners that aren't familiar with you, maybe you could kind of take us back to how you got into real estate. I know you just mentioned on the outset, you're also an agent. Maybe you could take us back to the beginning of how that journey started.   Anson (2m 17s): Yeah, sure. So back in 2003 or so I was working in it, I got laid off like everybody did, it feels like kind of boat, post.com, bubble burst. And so I was just looking around of what to do next. Do I go back into it? Do I double down in that arena or do I do something else? And at the same time, my wife and I were going to move down to Phoenix from Denver to be closer to family, my brother had just moved there.   They were having their first kid. So I was like, you know what? I don't have a corporate job anymore. I could kind of move wherever I want. And right before I left a friend of mine handed me rich dad, poor dad, which is, I think just the basic origin story of all real estate investors these days. But, but literally read that book on the way down to Arizona and changed my entire mindset about what I could do, what I should do and why going back into a corporate environment, probably wasn't the best idea.   And so landed in Phoenix and decided new city, a new me, and kind of jumped in and tried to learn as much as I could about anything that I could about real estate. And at the same time I was bartending. And so nights were spent working and days were spent trying to figure out real estate. So that's kind of a, that's kind of where I got started.   Jesse (3m 48s): That's great. So in terms of kind of getting into that mindset, I mean, not, not a dissimilar from a lot of people that come on the podcast or just talking in general, rich dad, poor dad just seems to be a cornerstone for a lot of, at least the beginning of real estate education, because I think ultimately the quadrants of that book for, you know, for anybody that hasn't read it, you definitely have to go check that book by Robert Kiyosaki. But I think it is ultimately when you get to that fourth quadrant where it's passive or, you know, quotations passive investments, I think real estate is just, it kind of lends itself to that, to that type of investment or that type of income.   Anson (4m 28s): Yeah, absolutely. And I had no idea that any of that existed, I mean, the guy who gave me the book, Paul, we were, I remember talking in this parking lot late at night and, and, and, and I couldn't even wrap my brain around getting a second mortgage. Like you have one mortgage who's going to give you money for a second house. You know, like that, that's how small my mindset was until that book helped me unlock and unpack what's possible.   So it, there's a reason why it's so such an origin story for many of us is because we weren't really taught that. And, and then this, this book just showed us kind of a different way of how things could work. Yeah,   Jesse (5m 10s): Yeah, yeah, absolutely. And it's, it's funny cause you know, that book, it really, it hits people in totally different, different jobs and different times in their life. And it still seems to be one of the ones that keeps coming up. So you, you read rich dad, poor, poor dad, you're you get laid off from your job where once, once that clicks for you and that light bulb goes off, what was, what was your process after that?   Anson (5m 35s): So I'm like, like many people starting off. I had no clue what I was doing. So I basically attended every single meetup that I could find from kind of Rhea meetups, real estate investment associations, to like cashflow one-on-one games. So, you know, tied in with the, the rich poor dad, it's basically a board game that people get together and play that kind of go through the principles of financial freedom and stuff.   And so anywhere that I could latch on to people who were doing real estate, I was there and I, I kind of made that my full-time job of, of doing that I've formed relationships. And in that I just started doing, trying to provide as much value as possible. So I'd go do all kinds of odds and end tasks for them for a couple of investors and a couple of agents. And in return, you know, all I asked for was just information. Like I would go run contracts, you know, for a long time for an agent.   And then I would ask for, Hey, can you teach me how to value properties on ML MLS? And so trying to provide that value first and then asking for something in return later on. And so I, I ran contracts, I punched signs in yards. I knocked on doors for a foreclosure investor. Feel like I did all these different things to try to learn as much as possible. And about after nine months to a year, one of the agents reciprocated with a deal.   And she was like, Hey, one of my clients has a property that they want to sell. I think that it would be great for you guys kind of sent over the numbers, helped me run through it and ended up to be our first deal. And it was a live in flip that we spent the next year fixing up and, and, you know, figuring out what's next. But we, we sold it after a year and ended up moving back to Denver. And so it was perfect timing because that was right at the end of 2005. And I think the Phoenix market crashed the next week.   So, so we got out just in time, but I learned a lot on that first deal and then went ahead and just appended and moved markets, which felt like starting over that's that's, that's kinda how that deal went. So   Jesse (7m 58s): Kind of started on that deal. Similar to a lot of individuals were, I guess, somewhat of a, you know, some people call it house hacking where you were living in at the time, but also renting out a, would that be fair to say it was kind of that, that type of arrangement for the first one?   Anson (8m 13s): No, we did. We did kind of a, it needed a lot of work. And so we just decided to move in and fix it while we were living there. We were fixing up stuff, you know, as time and money permitted and by the end of it, you know, it was fixed up and ready to go. And actually my agent w I, I had sent her an email, you know, we had gone to Vegas for our anniversary decided right then that we were kind of just done with Phoenix.   I sent her an email saying, Hey, I think we're going to sell. And she's like, I'll buy it. Like my parents will buy this. Like, she had very much faith that the market was going to keep and she was a little bit wrong on that, but that's okay. Yeah. So she gave us a really good price on it. We ended up making, I think $60,000 on it after a year, which isn't too bad and, you know, had some money to go back to Denver and continue the journey   Jesse (9m 11s): Right on. So was the journey continuing on that kind of operational level where it was value add deals or did you, did you pivot?   Anson (9m 22s): I think I, yeah, it was definitely a value add deals. When I got back, I felt like it was starting over because I didn't have a lot of real estate contacts I didn't have, I didn't know the market. And so, no, I kind of just went back to basics. I started working with investors and agents. I actually got hired on to a real estate agent team and was doing broker price opinions for banks. And right then I just, I figured out this whole thing of bank owned foreclosures and that this could be, you know, a really big thing.   And so, so from then on, probably for the next two years, pretty much everything that I bought was a bank owned foreclosure. So they were all distressed value, add properties that, that had almost no emotion into them because the banks don't care if you low ball them, they just care if it meets their kind of pricing matrix. So that was a fun time to be in real estate for sure. But I got my license maybe a year after I moved back and just kind of did both. I was an agent investor just kind of juggling both things.   Hm.   Jesse (10m 29s): So in terms of the kind of becoming an agent, because you get lots of people that are like, should I get my license as an investor, if you're going to make that switch, did you find it was something that was kind of critical or a nice to have type of type of thing where you still had to develop relationships with host of different agents?   Anson (10m 50s): Yeah. I found it to be absolutely critical to all the real estate that I was doing. Just, just from a, you know, obviously if I'm buying Oreos and my entire existence of finding deals is on MLS. I don't want to be one step removed from that process. I want to be, you know, like a direct actor in that process. And so right in front of MLS on a daily basis to try to find, you know, the deals that I'm looking for, rather than relying on an agent to send them to me, or, you know, go around the back door and give me their log-in or something like that, I could shoot off offers immediately, you know, set showings, do the things that I needed to do to go lock up these deals.   And so for me, it was absolutely pivotal   Jesse (11m 41s): In terms of kind of where you've developed your business today. So you kind of, you go through this process, there's the light bulb moment. You, you see that it's, there's proof of concept when you, you know, in one year you make 60 grand catch us up to today. What, where are you focusing? Not on, not just from a, from a geographical standpoint, but even from a type of asset or type of real estate that maybe you focus on or areas that you focus on.   Anson (12m 7s): Yeah. So, you know, it's kind of ebbed and flowed over the years between wholesales fix and flip. What I'm pivoting towards this year is more longterm buy and hold properties, single family, a small multifamily, those kinds of properties. And so that's a little bit different for me. I'm, I'm used to doing this transactional turn and burn, and now I'm trying to slow down and think for the longterm so that I can, you know, actually have something to show for my effort rather than just, you know, larger pay check, so to speak.   And so, so Ben pivoting in that direction as, as a business and Ben geographically in three different markets this year, just testing things out and getting the ball rolling on long-term cashflow. So that's kind of where we're at.   Jesse (13m 3s): So answered for the actual capital raising side of the business for you or where you source capital has that changed over the, the last few years? And if so, how, how has that evolved for, for yourself?   Anson (13m 16s): It hasn't changed too much once I kind of discovered private money lending before the sec kind of changed their rules, we would kind of just cold call for private lenders, developed relationships with them, had a good track record over time. And so after a while, you know, we would get referred to their friends who were looking to, you know, make, you know, a 10 to 14% return on their investment. And, and so, so yeah, so it hasn't changed too much because we're still using short-term even on these long-term projects we're using short-term funds to, to acquire them and then refinance it now to a more portfolio or, or bank loan style financing.   So I guess that side's new, but when we go into purchase, we're still using like our same private money lenders. They know that they're going to hang on for, you know, three to six months until we refinance out, but that's not too different from a flip where we would hold onto it for three to six months and they would get paid out at the end of that. So, so the, you know, the initial buy is the same. It's just that long-term piece of now it's going to convert into something long-term. So can you,   Jesse (14m 34s): You talked to, to that a little bit for listeners, you know, for that type of approach where you are, you know, getting short term finance, when you have a project going on and then stabilizing after that, maybe you could to kind of run through how that works. And, and, you know, on top of that private lending, I think is a bit of a black box for a lot of people. So, you know, maybe, maybe get your thoughts on that as well.   Anson (14m 59s): What do you mean by black box?   Jesse (15m 0s): Well, I, I feel that a lot of people that aren't in our industry, they hear private money and it sounds like they're meeting somebody in an alleyway and they're handing them a bag of cash. So I think, I think from like, I think for a lot of people, they don't realize how many private lenders there are out there, how many more options you have than just walking up to the bank that you've known for years, or are you, you know, you know, the brand,   Anson (15m 25s): Right? Yeah. So in, you know, I wish it was like an alleyway with a sack full of cat. That'd be kind of fun actually. But typically private lending is just lending from an individual rather than a bank. And so a sophisticated, private lender will operate somewhat like a bank where they, you know, they kind of vet deals. They've vet you, they vet the process. Some even want like a loan application and stuff. Others are very much more relational.   I mean, your next private lender could be your rich uncle or something who really believes in you and wants you to succeed. So it kinda runs the gamut from usually it's, you know, older people who are using the retirement funds. Some people who came into some money one way or the other, it seems like two or three of my guys who I lend or who I borrow from. They all sold a business in their sixties and now have kind of more money than they know what to do with, they see a return of 12% PR and that's very exciting to them.   And so they will lend that to the right person. And so it's kind of, I wouldn't call it a beginner strategy at all, because usually you have to have a kind of a track record. You have to have a reputation for what you're doing for somebody who just is sitting on, you know, even if it's a million dollars, you know, that's two projects in Denver. And so they, you know, lending out their entire million dollars. It has to be to the right person, the right projects with the right track record so that they are secure that bill, you know, end up getting that back.   And so it's kind of private lending in a nutshell. And to your other question for kind of stabilizing an asset, typically we're, we're purchasing with private money, which is for us, it's a hundred percent loan and fix. And so we're, we're into the deal with no money and we go ahead and we get the property fixed up rented, and our next lender wants to see it for at least three months.   We're, we're, we're collecting rent. Everything is stable. Everything's looking good before we can transition that into kind of a, it's a refinance into either a portfolio or, or a conventional style loan. I prefer portfolio, cause it seems just a little easier, but then they, they close on it and they'll pay off the private lender. And so now instead of owing, you know, this individual money, now we own, now we owe this credit union or this bank money and, and pay them.   And it's a long-term note, whereas our short-term private money lender is only like a six month note. So now we have a 30 year note and a smaller payment, so we can actually cash flow.   Jesse (18m 29s): Nice. Yeah, yeah. Obviously the goal there, if we switched to sourcing deals, like we talked about at the outset, it's a, it's a challenging thing to do right now. So it was topical, I guess, that that was in new Orleans. That was your kind of discussion topic, maybe as a comparison, if, if there has been things that are different than when you were starting out, how you were sourcing deals, then as opposed to strategies you've, you've learned and are using now, how has that evolved?   And, and you know, what, what approach are you using given the fact that it just seems like there is so little supply out there.   Anson (19m 7s): Yeah. That evolution has been pretty huge. So like I S like I said earlier, starting off, we did a lot of, we just bought bank owned, foreclosures right off of MLS. And we got really good at that to the point where we also sold REO, but we would buy from other REO brokers. And so we kind of knew the inside process of how asset managers think what different banks did, what, when they did their price reductions, you know, could we get in one day before a price reduction and then get under that price reduction and lock up a property before everybody else saw it.   We got pretty good at that kind of stuff. Once the foreclosure crisis started resolving itself, bailouts and everything else, there was just less foreclosures coming. And I saw the writing on the wall when, on the REO sourcing side, it's kind of the, you know, the, the, the source of the river started drying up and we were both benefiting from that source of the river plus way downstream, when we would pick up deals. It's like, oh man, I kind of see the writing writing on the wall here.   We're not going to be able to find as many deals as we used to. And so at the same time, we were also doing some short sales and looking around there was still, you know, a huge, you know, huge chunk of people who were underwater on their mortgages. And so we just aggressively attacked short sales that were listed and short sales that weren't listed. So we were just going straight after foreclosures basically. And so for about a year or two, we did mainly short sales. Was it, we got really good at that as well of going from the wild west or short sales to when it kinda got standardized and institutionalized.   We saw, you know, everything in that whole window. And then, and then the same thing happened where I started seeing that the market was rising, the prices were rising and not everybody would be underwater forever. And so what do I do next? And from there, we went off market. We, we, we did a little bit more MLS deals we would find, but those really just started getting few and far between, and we needed a bigger source of deals we were doing mainly wholesaling right then.   And so the better source of deals was just to go directly to the seller. And so ever since probably 2014, 15 up until now has been all off market direct to seller. I haven't bought an MLS deal probably three or four years. They just, I don't know. It's just not, not scary   Jesse (21m 54s): Now. Yeah,   Anson (21m 56s): Exactly. So all, you know, basically all off market right now, just going directly to those sellers and seeing if we can help them.   Jesse (22m 4s): So on that, on that note, in terms of the approach that you use with, you know, is it the, of, in the vein of direct mailers, are you kind of going to the secretary of state? Are you going through different software? How are you, how are you reaching out to those? Those would be sellers.   Anson (22m 22s): Yeah. So our main, our main way to reach out and touch them is direct mail. We have just this year started adding in, or I shouldn't say just this year, it was probably 2019, just started stacking in more ways to reach sellers, kind of this, the same lists and in different ways. So if they did respond to the direct mail, we also called them. We also text them. We also emailed them if we could, you know, find them on Facebook, knock on their door, whatever it took to really get in front of the right sellers.   You know, there was a time where you can just send out postcards and, you know, get a 2% response rate, just pick from the best ones. But that just started kind of getting less and less as there was more competition. So now we're reaching out in multiple ways, but direct mail is still our number one.   Jesse (23m 16s): Yeah. You know, it, it's interesting because it comes, I guess, depending on who the sellers are. Like, for instance, if you, if you're really reaching out to predominantly mom and pop, or like you said, small, multi, multi Juarez, you know, I found that the responses are usually better. However, if there's that one layer of say a corporate structure, LLC, partnership, whatever that is, do you, is that also part of the pool that you reach out to? And I guess from there, if it is, you probably have to do that one extra step of, you know, who's the principal who's, you know, who's the signing officer.   Anson (23m 49s): Yep. Yeah. So in Colorado, our, our secretary of state is pretty transparent. So we can go on and search LLCs and find out who, you know, who's the owner where their register addresses all that stuff. So our, oh, I wish I had the number of, of LLCs that we've mailed to, but I have given that over to a VA to go ahead and look those up and just make sure that we're hitting the right people and getting in front of them instead of just setting, you know, XYZ LLC, you know, it's like Paul Jones or something.   So,   Jesse (24m 25s): Yeah, yeah. In terms of the, so for those that are just kind of getting into real estate in terms of finding off market deals, they're coming into an environment that, you know, we we've seen prior to supply constraints, a different approach. Whereas now, because there's so few real estate opportunities out there properties, they were coming into a market where they probably have to start with direct, direct to seller or trying to find off market deals. How would you go about telling somebody who's getting into the industry? How does start building that list?   Anson (24m 58s): I mean, even today, it sounds very, very old school, but I think that are driving for dollars lists are still some of our Mo you know, highest producing lists. And if you want to keep the cost down and you have more time than you have money, I would say, drive for dollars and then cold column, just, you know, skip, trace them or look them up on white pages.com. Yup. And then, you know, send out phone calls. You'll probably, you know, get 50 to a hundred driving for dollars leads a day.   And then, you know, cold column the same day or the day after you'll, you'll keep yourself busy for sure. But it, you know, bang for buck time for payoff, it's definitely the best use of your time to try to find deals.   Jesse (25m 48s): Yeah. A hundred percent, all it really takes is, you know, you do it for a week. If you can hit one, then you know, there's your, there's your week's work right there. Exactly.   Anson (25m 57s): And pretty good ROI.   Jesse (25m 59s): Yeah. A hundred percent. And in terms of your stock, you know, your stock mailer, is it typically, like you said, you know, Hey, you know, Hey Doug Smith and then w what's the typical pitch that you, that you guys employ.   Anson (26m 14s): Yeah. So we definitely try to speak, you know, the ethos or the, you know, the, the makeup of our direct mail is, you know, handcrafted and handwritten. So we want to make sure that we're, we're talking to them down at like a normal level of like, Hey, we're here to help. So it's like, you know, using names, using addresses, using, you know, subdivisions, if we really want to like, like, Hey, you know, Hey, Jesse, we're, you know, we're wondering if you wanted to sell 1, 2, 3 main street, if you've ever thought about selling hassle-free please give us a call.   You know, we don't have any commissions or inspections or appraisals, you know, call us for a no obligation fair offer. And that that's enough of the core of the message to get across of like, Hey, we're here to help. You know, sometimes we'll add in that we're local, you know, we're, we're, we're definitely, you know, not an eye buyer or somebody who's a Zillow or something coming in that we're here to work with them and we have, you know, multiple ways to help them.   So,   Jesse (27m 28s): Yeah. Fantastic. At the end of the day, it's really just getting that phone call. You're not expecting it to get the sale, which it's nice, but not expecting to get the sale on the first touchpoint.   Anson (27m 37s): Right. Yeah, exactly. It's definitely a long game of multiple touches and, and yeah. Building on each other. So,   Jesse (27m 47s): So handsome, we're in a crazy time right now, recording this, you know, coming into the end of, of 20, 21. I don't think anybody could have predicted the last year and a half. How has your business, or how do you see your business evolving as a result of kind of the environment that we've been in, if at all, and, and maybe just prospectively, where do you see opportunities, you know, coming in the new year?   Anson (28m 15s): Yeah. So we're going to continue doing what we're doing for this year, which is, you know, more out of state looking at a state for markets that are conducive to cash flow. Short term rental opportunities is, is pretty big focus right now as well. And then locally, we've been partnering more with other investors because we've had a lot of time spent on the other side, kind of looking at a state. And, and so, you know, looking forward to next year, you know, I think the market's going to just be doing more of the same, can't foresee anything crazy that's going to happen.   And so, you know, we're just kind of to focus on long-term projects and, and even if we're wrong, you know, we still have, long-term more passive, passive things going, so   Jesse (29m 12s): Right on. All right. And so we ask a four questions, every guest before we wrap up. So before I get there, I'm just curious, I've been trying to, you know, for the last month or two kind of taking a poll of, of different real estate professionals I talked to, and I'm just curious your thoughts on number one, inflation, and number two interest rates. And, and I'm not expecting you to have a crystal ball, but I just, I find it funny because, you know, you have asked people, you get four opinions on these topics, right?   Anson (29m 46s): Yeah. So inflation's obviously going to be an issue. I think that Brian, who's the economist who spoke at BiggerPockets convention, had a lot of really good things to say. And pretty much everything that I would kind of repeat of, you know, inflation's a problem. It's not going to be a problem today or next year, but in the next, you know, four years or so, it will probably pop and become an issue.   And as far as interest rates, it's like, I think that they just voted that they're not, they're not going to change at all. And so as long as interest rates stay down and buying, and money is easy, it's just gonna turn, turn the market and keep it going. So buyers will keep buying. Investors will keep investing money right now is probably the easiest thing to get, whether it's hard money or otherwise, and so easy money, hard deals.   So it's going to probably just keep fueling that and, and yeah, just, it, it's kinda hard to say, but I think Brian had a really good kind of outlook on it where, you know, 20, 24 or 2026 is kind of when things will start changing and creeping up a little bit on, on interest rates. And I, I don't know enough about it to disagree. So   Jesse (31m 13s): Yeah, we had a, we had Brian on the show, you can check that episode out. I think it was in the sixties, but he was, he was great if especially if you, if you geek out on, on economics, that's definitely the one that listened to. I love it. Okay. Sweet. If you're ready, we'll fire off these final four questions to ya.   Anson (31m 32s): All right. I'm ready. Right on.   Jesse (31m 34s): What's something, you know, now in your career Anson, whether that's in real estate or business that you wish you knew when you started out.   Anson (31m 43s): So I kind of, I definitely always traded just short-term money for, you know, not worrying about long-term things and, you know, it's like, oh, you're in your twenties. You know, you don't really care too much about it, but once you get up into your forties and you're kind of still doing the same thing, it's probably not the best idea. And so I would, I would go back and tell myself for sure, just like, Hey, keep like even a third of the amount of houses that you're doing, and then you won't have to work when you're 40.   So   Jesse (32m 17s): There you go. That's a, that's a good point. Okay. In, in terms of, for that person, that's getting into our industry, what do you tell them in terms of your view on mentorship?   Anson (32m 32s): Yeah, that's a really, really good question. I'm a big fan of mentors, whether it's kind of formal mentors and informal mentors, you know, people who were willing to help you up. And I would say, just find somebody who aligns with your values and then see how you can provide value to them so that they can help you get to where you want to go. And then once you're at a place where, you know, a few years along the line, I think that mentorship works both ways where you should have a hand up and a hand down.   So you're, you know, you'll graduate through mentors that you're working with and every step along the way, you should be helping bring people up as well. And that teaches you a lot of things too, as you're teaching and working through things with other investors as well. So you've kind of learned by teaching and then obviously you learn by learning from somebody who's where you want to be.   Jesse (33m 31s): Yeah. That's great. Great answer as well. Okay. In terms of, let's put a pin in rich dad, poor dad. So put that one aside, but what is a book that you find yourself just recommending over and over again?   Anson (33m 45s): Yeah. So my, that is, it was a book that I also give about the most as well. And it's obstacle is the way by Ryan holiday and it's a book on stoicism and it's, it's really helped me in my personal life and also through business as well. And so it's just an, and an outlook on life and on business and situations that I wasn't exposed to until I kind of started getting into it. And that book definitely hammered it home for me.   So   Jesse (34m 19s): That's cool. I don't think we've ever had that book recommended on the show, but I've, I've definitely had people say it's a, it's a killer book. Yep. Okay. Last question. First car, make and model.   Anson (34m 32s): I had a 1979 tan VW rabbit. That is   Jesse (34m 38s): Unreal.   Anson (34m 39s): Two door.   Jesse (34m 40s): Yeah. That's pretty good, man. Like 79. I just looking at you. I would've, I would've assumed it'd be the eighties or nineties, but that's, that's quite the car.   Anson (34m 50s): That's the same year I was born. It just happened to be, my dad's always worked on VWs my whole life. And so my step-mom drove like a Cabriolet and my dad's had like dozens and dozens of bugs and, and yeah, when it came time to me, for me to start driving, you know, he bought this 79 tan rabbit that he's like, this is yours. If you get your grades up. And it took me a little while, but finally got my grades up enough to, to drive it. So   Jesse (35m 20s): I love how they're bringing back the seventies and eighties, the retro stitching for a, for a lot of their, their new models. So it got kind of that vintage look.   Anson (35m 29s): I'd love to see it. I'd love to see a new rabbit. Yeah.   Jesse (35m 32s): Oh yeah. Bring it back. Awesome. All right. Answered for those of you that want to connect or reach out or have any questions. I know you're doing work with bigger pockets. Maybe you could tell, tell listeners where they can go on the Google machine.   Anson (35m 47s): Yeah. If you go to the Google machine and if you want to connect with me bigger pockets, this is probably the easiest way to do it. It's just, if you just search my name on the site, you'll find my, my, my profile. Think I'm the only answer on the young, on there still. So that's good. Yeah. And then yeah, if you want to find me on Instagram at young Anson, and if you want to find me on YouTube, I do do videos for bigger pockets and starting to do more videos for myself as well. And so you can find me there.   Jesse (36m 16s): My guest today has been aunts and young aunts and thanks for being part of working capital.   Anson (36m 21s): Thanks, Jesse. Thanks so much.   Jesse (36m 31s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse for galley. If you liked the episode, head on to iTunes and leave us a five star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one. Take care.Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Right? Ladies and gentlemen, my name's Jessica galleon. You're listening to working capital the real estate podcast. Our special guest today is aunts and young Anson is a real estate agent and investor with hundreds of transactions completed in each category, real estate Anson, and his team specialize in marketing directly to sellers for off-market deals, using many methods that can be found in his book, finding and funding great deals when not working ants and can be found exploring the wilds of Colorado with his family and tending loud rock concerts.   And I can see you got a twig behind you there, and son, how you doing?   Anson (54s): I'm good. I'm good. Thanks for having me, Jesse.   Jesse (56s): Yeah, my pleasure having you on, what do you got there? Is that a base? It's hard to tell because   Anson (1m 1s): That one's a five string bass.   Jesse (1m 4s): I like it. Fantastic, man. Well, thanks for coming on. We were just chatting before the show, like a few of the most recent guests you were speaking at BP con this year, what was, what was your topic?   Anson (1m 17s): So my topic this year was finding the deals in any market and it focused on kind of out of state investing or long distance real estate investing, building a team, you know, how basically how to go ahead and find those deals, whether it's networking or off market. And, and yeah, that's seems to be a hot topic. Everybody's market is too expensive. So they're looking at other markets and I figured I'd hit on that since that's what I'm doing too. So   Jesse (1m 47s): Yeah, absolutely. It's certainly topical right now. It's we kind of joke around about the inverse relationship between, you know, the, the lower interest rates are, the cheaper money is the harder it is to find deals.   Anson (1m 59s): Oh yeah, for   Jesse (1m 60s): Sure. So in terms of a little bit of your background for listeners that aren't familiar with you, maybe you could kind of take us back to how you got into real estate. I know you just mentioned on the outset, you're also an agent. Maybe you could take us back to the beginning of how that journey started.   Anson (2m 17s): Yeah, sure. So back in 2003 or so I was working in it, I got laid off like everybody did, it feels like kind of boat, post.com, bubble burst. And so I was just looking around of what to do next. Do I go back into it? Do I double down in that arena or do I do something else? And at the same time, my wife and I were going to move down to Phoenix from Denver to be closer to family, my brother had just moved there.   They were having their first kid. So I was like, you know what? I don't have a corporate job anymore. I could kind of move wherever I want. And right before I left a friend of mine handed me rich dad, poor dad, which is, I think just the basic origin story of all real estate investors these days. But, but literally read that book on the way down to Arizona and changed my entire mindset about what I could do, what I should do and why going back into a corporate environment, probably wasn't the best idea.   And so landed in Phoenix and decided new city, a new me, and kind of jumped in and tried to learn as much as I could about anything that I could about real estate. And at the same time I was bartending. And so nights were spent working and days were spent trying to figure out real estate. So that's kind of a, that's kind of where I got started.   Jesse (3m 48s): That's great. So in terms of kind of getting into that mindset, I mean, not, not a dissimilar from a lot of people that come on the podcast or just talking in general, rich dad, poor dad just seems to be a cornerstone for a lot of, at least the beginning of real estate education, because I think ultimately the quadrants of that book for, you know, for anybody that hasn't read it, you definitely have to go check that book by Robert Kiyosaki. But I think it is ultimately when you get to that fourth quadrant where it's passive or, you know, quotations passive investments, I think real estate is just, it kind of lends itself to that, to that type of investment or that type of income.   Anson (4m 28s): Yeah, absolutely. And I had no idea that any of that existed, I mean, the guy who gave me the book, Paul, we were, I remember talking in this parking lot late at night and, and, and, and I couldn't even wrap my brain around getting a second mortgage. Like you have one mortgage who's going to give you money for a second house. You know, like that, that's how small my mindset was until that book helped me unlock and unpack what's possible.   So it, there's a reason why it's so such an origin story for many of us is because we weren't really taught that. And, and then this, this book just showed us kind of a different way of how things could work. Yeah,   Jesse (5m 10s): Yeah, yeah, absolutely. And it's, it's funny cause you know, that book, it really, it hits people in totally different, different jobs and different times in their life. And it still seems to be one of the ones that keeps coming up. So you, you read rich dad, poor, poor dad, you're you get laid off from your job where once, once that clicks for you and that light bulb goes off, what was, what was your process after that?   Anson (5m 35s): So I'm like, like many people starting off. I had no clue what I was doing. So I basically attended every single meetup that I could find from kind of Rhea meetups, real estate investment associations, to like cashflow one-on-one games. So, you know, tied in with the, the rich poor dad, it's basically a board game that people get together and play that kind of go through the principles of financial freedom and stuff.   And so anywhere that I could latch on to people who were doing real estate, I was there and I, I kind of made that my full-time job of, of doing that I've formed relationships. And in that I just started doing, trying to provide as much value as possible. So I'd go do all kinds of odds and end tasks for them for a couple of investors and a couple of agents. And in return, you know, all I asked for was just information. Like I would go run contracts, you know, for a long time for an agent.   And then I would ask for, Hey, can you teach me how to value properties on ML MLS? And so trying to provide that value first and then asking for something in return later on. And so I, I ran contracts, I punched signs in yards. I knocked on doors for a foreclosure investor. Feel like I did all these different things to try to learn as much as possible. And about after nine months to a year, one of the agents reciprocated with a deal.   And she was like, Hey, one of my clients has a property that they want to sell. I think that it would be great for you guys kind of sent over the numbers, helped me run through it and ended up to be our first deal. And it was a live in flip that we spent the next year fixing up and, and, you know, figuring out what's next. But we, we sold it after a year and ended up moving back to Denver. And so it was perfect timing because that was right at the end of 2005. And I think the Phoenix market crashed the next week.   So, so we got out just in time, but I learned a lot on that first deal and then went ahead and just appended and moved markets, which felt like starting over that's that's, that's kinda how that deal went. So   Jesse (7m 58s): Kind of started on that deal. Similar to a lot of individuals were, I guess, somewhat of a, you know, some people call it house hacking where you were living in at the time, but also renting out a, would that be fair to say it was kind of that, that type of arrangement for the first one?   Anson (8m 13s): No, we did. We did kind of a, it needed a lot of work. And so we just decided to move in and fix it while we were living there. We were fixing up stuff, you know, as time and money permitted and by the end of it, you know, it was fixed up and ready to go. And actually my agent w I, I had sent her an email, you know, we had gone to Vegas for our anniversary decided right then that we were kind of just done with Phoenix.   I sent her an email saying, Hey, I think we're going to sell. And she's like, I'll buy it. Like my parents will buy this. Like, she had very much faith that the market was going to keep and she was a little bit wrong on that, but that's okay. Yeah. So she gave us a really good price on it. We ended up making, I think $60,000 on it after a year, which isn't too bad and, you know, had some money to go back to Denver and continue the journey   Jesse (9m 11s): Right on. So was the journey continuing on that kind of operational level where it was value add deals or did you, did you pivot?   Anson (9m 22s): I think I, yeah, it was definitely a value add deals. When I got back, I felt like it was starting over because I didn't have a lot of real estate contacts I didn't have, I didn't know the market. And so, no, I kind of just went back to basics. I started working with investors and agents. I actually got hired on to a real estate agent team and was doing broker price opinions for banks. And right then I just, I figured out this whole thing of bank owned foreclosures and that this could be, you know, a really big thing.   And so, so from then on, probably for the next two years, pretty much everything that I bought was a bank owned foreclosure. So they were all distressed value, add properties that, that had almost no emotion into them because the banks don't care if you low ball them, they just care if it meets their kind of pricing matrix. So that was a fun time to be in real estate for sure. But I got my license maybe a year after I moved back and just kind of did both. I was an agent investor just kind of juggling both things.   Hm.   Jesse (10m 29s): So in terms of the kind of becoming an agent, because you get lots of people that are like, should I get my license as an investor, if you're going to make that switch, did you find it was something that was kind of critical or a nice to have type of type of thing where you still had to develop relationships with host of different agents?   Anson (10m 50s): Yeah. I found it to be absolutely critical to all the real estate that I was doing. Just, just from a, you know, obviously if I'm buying Oreos and my entire existence of finding deals is on MLS. I don't want to be one step removed from that process. I want to be, you know, like a direct actor in that process. And so right in front of MLS on a daily basis to try to find, you know, the deals that I'm looking for, rather than relying on an agent to send them to me, or, you know, go around the back door and give me their log-in or something like that, I could shoot off offers immediately, you know, set showings, do the things that I needed to do to go lock up these deals.   And so for me, it was absolutely pivotal   Jesse (11m 41s): In terms of kind of where you've developed your business today. So you kind of, you go through this process, there's the light bulb moment. You, you see that it's, there's proof of concept when you, you know, in one year you make 60 grand catch us up to today. What, where are you focusing? Not on, not just from a, from a geographical standpoint, but even from a type of asset or type of real estate that maybe you focus on or areas that you focus on.   Anson (12m 7s): Yeah. So, you know, it's kind of ebbed and flowed over the years between wholesales fix and flip. What I'm pivoting towards this year is more longterm buy and hold properties, single family, a small multifamily, those kinds of properties. And so that's a little bit different for me. I'm, I'm used to doing this transactional turn and burn, and now I'm trying to slow down and think for the longterm so that I can, you know, actually have something to show for my effort rather than just, you know, larger pay check, so to speak.   And so, so Ben pivoting in that direction as, as a business and Ben geographically in three different markets this year, just testing things out and getting the ball rolling on long-term cashflow. So that's kind of where we're at.   Jesse (13m 3s): So answered for the actual capital raising side of the business for you or where you source capital has that changed over the, the last few years? And if so, how, how has that evolved for, for yourself?   Anson (13m 16s): It hasn't changed too much once I kind of discovered private money lending before the sec kind of changed their rules, we would kind of just cold call for private lenders, developed relationships with them, had a good track record over time. And so after a while, you know, we would get referred to their friends who were looking to, you know, make, you know, a 10 to 14% return on their investment. And, and so, so yeah, so it hasn't changed too much because we're still using short-term even on these long-term projects we're using short-term funds to, to acquire them and then refinance it now to a more portfolio or, or bank loan style financing.   So I guess that side's new, but when we go into purchase, we're still using like our same private money lenders. They know that they're going to hang on for, you know, three to six months until we refinance out, but that's not too different from a flip where we would hold onto it for three to six months and they would get paid out at the end of that. So, so the, you know, the initial buy is the same. It's just that long-term piece of now it's going to convert into something long-term. So can you,   Jesse (14m 34s): You talked to, to that a little bit for listeners, you know, for that type of approach where you are, you know, getting short term finance, when you have a project going on and then stabilizing after that, maybe you could to kind of run through how that works. And, and, you know, on top of that private lending, I think is a bit of a black box for a lot of people. So, you know, maybe, maybe get your thoughts on that as well.   Anson (14m 59s): What do you mean by black box?   Jesse (15m 0s): Well, I, I feel that a lot of people that aren't in our industry, they hear private money and it sounds like they're meeting somebody in an alleyway and they're handing them a bag of cash. So I think, I think from like, I think for a lot of people, they don't realize how many private lenders there are out there, how many more options you have than just walking up to the bank that you've known for years, or are you, you know, you know, the brand,   Anson (15m 25s): Right? Yeah. So in, you know, I wish it was like an alleyway with a sack full of cat. That'd be kind of fun actually. But typically private lending is just lending from an individual rather than a bank. And so a sophisticated, private lender will operate somewhat like a bank where they, you know, they kind of vet deals. They've vet you, they vet the process. Some even want like a loan application and stuff. Others are very much more relational.   I mean, your next private lender could be your rich uncle or something who really believes in you and wants you to succeed. So it kinda runs the gamut from usually it's, you know, older people who are using the retirement funds. Some people who came into some money one way or the other, it seems like two or three of my guys who I lend or who I borrow from. They all sold a business in their sixties and now have kind of more money than they know what to do with, they see a return of 12% PR and that's very exciting to them.   And so they will lend that to the right person. And so it's kind of, I wouldn't call it a beginner strategy at all, because usually you have to have a kind of a track record. You have to have a reputation for what you're doing for somebody who just is sitting on, you know, even if it's a million dollars, you know, that's two projects in Denver. And so they, you know, lending out their entire million dollars. It has to be to the right person, the right projects with the right track record so that they are secure that bill, you know, end up getting that back.   And so it's kind of private lending in a nutshell. And to your other question for kind of stabilizing an asset, typically we're, we're purchasing with private money, which is for us, it's a hundred percent loan and fix. And so we're, we're into the deal with no money and we go ahead and we get the property fixed up rented, and our next lender wants to see it for at least three months.   We're, we're, we're collecting rent. Everything is stable. Everything's looking good before we can transition that into kind of a, it's a refinance into either a portfolio or, or a conventional style loan. I prefer portfolio, cause it seems just a little easier, but then they, they close on it and they'll pay off the private lender. And so now instead of owing, you know, this individual money, now we own, now we owe this credit union or this bank money and, and pay them.   And it's a long-term note, whereas our short-term private money lender is only like a six month note. So now we have a 30 year note and a smaller payment, so we can actually cash flow.   Jesse (18m 29s): Nice. Yeah, yeah. Obviously the goal there, if we switched to sourcing deals, like we talked about at the outset, it's a, it's a challenging thing to do right now. So it was topical, I guess, that that was in new Orleans. That was your kind of discussion topic, maybe as a comparison, if, if there has been things that are different than when you were starting out, how you were sourcing deals, then as opposed to strategies you've, you've learned and are using now, how has that evolved?   And, and you know, what, what approach are you using given the fact that it just seems like there is so little supply out there.   Anson (19m 7s): Yeah. That evolution has been pretty huge. So like I S like I said earlier, starting off, we did a lot of, we just bought bank owned, foreclosures right off of MLS. And we got really good at that to the point where we also sold REO, but we would buy from other REO brokers. And so we kind of knew the inside process of how asset managers think what different banks did, what, when they did their price reductions, you know, could we get in one day before a price reduction and then get under that price reduction and lock up a property before everybody else saw it.   We got pretty good at that kind of stuff. Once the foreclosure crisis started resolving itself, bailouts and everything else, there was just less foreclosures coming. And I saw the writing on the wall when, on the REO sourcing side, it's kind of the, you know, the, the, the source of the river started drying up and we were both benefiting from that source of the river plus way downstream, when we would pick up deals. It's like, oh man, I kind of see the writing writing on the wall here.   We're not going to be able to find as many deals as we used to. And so at the same time, we were also doing some short sales and looking around there was still, you know, a huge, you know, huge chunk of people who were underwater on their mortgages. And so we just aggressively attacked short sales that were listed and short sales that weren't listed. So we were just going straight after foreclosures basically. And so for about a year or two, we did mainly short sales. Was it, we got really good at that as well of going from the wild west or short sales to when it kinda got standardized and institutionalized.   We saw, you know, everything in that whole window. And then, and then the same thing happened where I started seeing that the market was rising, the prices were rising and not everybody would be underwater forever. And so what do I do next? And from there, we went off market. We, we, we did a little bit more MLS deals we would find, but those really just started getting few and far between, and we needed a bigger source of deals we were doing mainly wholesaling right then.   And so the better source of deals was just to go directly to the seller. And so ever since probably 2014, 15 up until now has been all off market direct to seller. I haven't bought an MLS deal probably three or four years. They just, I don't know. It's just not, not scary   Jesse (21m 54s): Now. Yeah,   Anson (21m 56s): Exactly. So all, you know, basically all off market right now, just going directly to those sellers and seeing if we can help them.   Jesse (22m 4s): So on that, on that note, in terms of the approach that you use with, you know, is it the, of, in the vein of direct mailers, are you kind of going to the secretary of state? Are you going through different software? How are you, how are you reaching out to those? Those would be sellers.   Anson (22m 22s): Yeah. So our main, our main way to reach out and touch them is direct mail. We have just this year started adding in, or I shouldn't say just this year, it was probably 2019, just started stacking in more ways to reach sellers, kind of this, the same lists and in different ways. So if they did respond to the direct mail, we also called them. We also text them. We also emailed them if we could, you know, find them on Facebook, knock on their door, whatever it took to really get in front of the right sellers.   You know, there was a time where you can just send out postcards and, you know, get a 2% response rate, just pick from the best ones. But that just started kind of getting less and less as there was more competition. So now we're reaching out in multiple ways, but direct mail is still our number one.   Jesse (23m 16s): Yeah. You know, it, it's interesting because it comes, I guess, depending on who the sellers are. Like, for instance, if you, if you're really reaching out to predominantly mom and pop, or like you said, small, multi, multi Juarez, you know, I found that the responses are usually better. However, if there's that one layer of say a corporate structure, LLC, partnership, whatever that is, do you, is that also part of the pool that you reach out to? And I guess from there, if it is, you probably have to do that one extra step of, you know, who's the principal who's, you know, who's the signing officer.   Anson (23m 49s): Yep. Yeah. So in Colorado, our, our secretary of state is pretty transparent. So we can go on and search LLCs and find out who, you know, who's the owner where their register addresses all that stuff. So our, oh, I wish I had the number of, of LLCs that we've mailed to, but I have given that over to a VA to go ahead and look those up and just make sure that we're hitting the right people and getting in front of them instead of just setting, you know, XYZ LLC, you know, it's like Paul Jones or something.   So,   Jesse (24m 25s): Yeah, yeah. In terms of the, so for those that are just kind of getting into real estate in terms of finding off market deals, they're coming into an environment that, you know, we we've seen prior to supply constraints, a different approach. Whereas now, because there's so few real estate opportunities out there properties, they were coming into a market where they probably have to start with direct, direct to seller or trying to find off market deals. How would you go about telling somebody who's getting into the industry? How does start building that list?   Anson (24m 58s): I mean, even today, it sounds very, very old school, but I think that are driving for dollars lists are still some of our Mo you know, highest producing lists. And if you want to keep the cost down and you have more time than you have money, I would say, drive for dollars and then cold column, just, you know, skip, trace them or look them up on white pages.com. Yup. And then, you know, send out phone calls. You'll probably, you know, get 50 to a hundred driving for dollars leads a day.   And then, you know, cold column the same day or the day after you'll, you'll keep yourself busy for sure. But it, you know, bang for buck time for payoff, it's definitely the best use of your time to try to find deals.   Jesse (25m 48s): Yeah. A hundred percent, all it really takes is, you know, you do it for a week. If you can hit one, then you know, there's your, there's your week's work right there. Exactly.   Anson (25m 57s): And pretty good ROI.   Jesse (25m 59s): Yeah. A hundred percent. And in terms of your stock, you know, your stock mailer, is it typically, like you said, you know, Hey, you know, Hey Doug Smith and then w what's the typical pitch that you, that you guys employ.   Anson (26m 14s): Yeah. So we definitely try to speak, you know, the ethos or the, you know, the, the makeup of our direct mail is, you know, handcrafted and handwritten. So we want to make sure that we're, we're talking to them down at like a normal level of like, Hey, we're here to help. So it's like, you know, using names, using addresses, using, you know, subdivisions, if we really want to like, like, Hey, you know, Hey, Jesse, we're, you know, we're wondering if you wanted to sell 1, 2, 3 main street, if you've ever thought about selling hassle-free please give us a call.   You know, we don't have any commissions or inspections or appraisals, you know, call us for a no obligation fair offer. And that that's enough of the core of the message to get across of like, Hey, we're here to help. You know, sometimes we'll add in that we're local, you know, we're, we're, we're definitely, you know, not an eye buyer or somebody who's a Zillow or something coming in that we're here to work with them and we have, you know, multiple ways to help them.   So,   Jesse (27m 28s): Yeah. Fantastic. At the end of the day, it's really just getting that phone call. You're not expecting it to get the sale, which it's nice, but not expecting to get the sale on the first touchpoint.   Anson (27m 37s): Right. Yeah, exactly. It's definitely a long game of multiple touches and, and yeah. Building on each other. So,   Jesse (27m 47s): So handsome, we're in a crazy time right now, recording this, you know, coming into the end of, of 20, 21. I don't think anybody could have predicted the last year and a half. How has your business, or how do you see your business evolving as a result of kind of the environment that we've been in, if at all, and, and maybe just prospectively, where do you see opportunities, you know, coming in the new year?   Anson (28m 15s): Yeah. So we're going to continue doing what we're doing for this year, which is, you know, more out of state looking at a state for markets that are conducive to cash flow. Short term rental opportunities is, is pretty big focus right now as well. And then locally, we've been partnering more with other investors because we've had a lot of time spent on the other side, kind of looking at a state. And, and so, you know, looking forward to next year, you know, I think the market's going to just be doing more of the same, can't foresee anything crazy that's going to happen.   And so, you know, we're just kind of to focus on long-term projects and, and even if we're wrong, you know, we still have, long-term more passive, passive things going, so   Jesse (29m 12s): Right on. All right. And so we ask a four questions, every guest before we wrap up. So before I get there, I'm just curious, I've been trying to, you know, for the last month or two kind of taking a poll of, of different real estate professionals I talked to, and I'm just curious your thoughts on number one, inflation, and number two interest rates. And, and I'm not expecting you to have a crystal ball, but I just, I find it funny because, you know, you have asked people, you get four opinions on these topics, right?   Anson (29m 46s): Yeah. So inflation's obviously going to be an issue. I think that Brian, who's the economist who spoke at BiggerPockets convention, had a lot of really good things to say. And pretty much everything that I would kind of repeat of, you know, inflation's a problem. It's not going to be a problem today or next year, but in the next, you know, four years or so, it will probably pop and become an issue.   And as far as interest rates, it's like, I think that they just voted that they're not, they're not going to change at all. And so as long as interest rates stay down and buying, and money is easy, it's just gonna turn, turn the market and keep it going. So buyers will keep buying. Investors will keep investing money right now is probably the easiest thing to get, whether it's hard money or otherwise, and so easy money, hard deals.   So it's going to probably just keep fueling that and, and yeah, just, it, it's kinda hard to say, but I think Brian had a really good kind of outlook on it where, you know, 20, 24 or 2026 is kind of when things will start changing and creeping up a little bit on, on interest rates. And I, I don't know enough about it to disagree. So   Jesse (31m 13s): Yeah, we had a, we had Brian on the show, you can check that episode out. I think it was in the sixties, but he was, he was great if especially if you, if you geek out on, on economics, that's definitely the one that listened to. I love it. Okay. Sweet. If you're ready, we'll fire off these final four questions to ya.   Anson (31m 32s): All right. I'm ready. Right on.   Jesse (31m 34s): What's something, you know, now in your career Anson, whether that's in

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli
MINISODE How to Transition from Small to Large Multifamily

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli

Play Episode Listen Later Nov 23, 2021 13:38


Are you looking to scale from that Duplex to something bigger? That 10 Unit to a 100 Unit? You're not alone! For those who want to scale, you need to learn how to take the strategic shifts from small to large Multifamily.This is a massive topic, but I promise you that you're going to walk away from this episode with some powerful takeaways that you'll be able to put into action right away!With that, we'll start by honing in on the three buckets of Multifamily: small, medium, and large. We'll define them first and then break down the mindset we need to use within each one and then how your focus needs to change from one to the other. Jump into the episode and learn how to transition from small to large Multifamily.Quotes• “There are things that we think about when we're buying 100 units that we don't think about when we're buying a duplex.” (3:17 - 3:22)• “You have to make sure from a financial perspective that you're setting yourself up for success… It's really important that things make sense, as is, in my opinion, rather than losing money.” (4:06 - 4:26)• “If you're starting to get in the realm of like 25 units. Visibility! That is something that that renter is going to want to see or want to know. Is it easy to get to?” (5:30 - 5:38)• “The last point I want to make here with the middle, the medium, is, are there strong property managers in the area that you're looking to buy?” (6:18 - 6:25)• “You don't think about competition when you're buying a two-unit, but you do need to think about it very, very, very much so when you're buying larger units… because you are competing against every other building like yours.” (8:20 - 8:31)• “The value-add play in a larger unit, because there are more units, is going to make a more significant difference on your net operating income.” (9:19 - 9:25) BLACK FRIDAY ANNOUNCEMENT COMING SOON!!!We are opening the doors to our STRIVE membership VERY soon and we will have a special offer for ONLY those who are on our waiting list! Learn more about our membership and join our waiting list today!https://www.therealestateinvesther.com/membership  The Real Estate InvestHER Membership Our Membership focuses on three pillars: Real Estate Investing, Business Strategies, and Self-Care. We provide a financial freedom road map for women to create steady recurring income to live life on their own terms. Start today with our FREE membership level.Your Voice Matters. We appreciate your feedback and would like to hear from you. Click here to answer a few questions about our podcast: https://airtable.com/shr8fJS0a0uHedcza Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvestherYouTube: https://www.youtube.com/channel/UCQHEyioz1vC3w5Nx7qm-n0gSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The A Game Podcast: Real Estate Investing For Entrepreneurs
How To Raise Money For Real Estate Investments, & The Secret To Networking | Paul Vincent

The A Game Podcast: Real Estate Investing For Entrepreneurs

Play Episode Listen Later Nov 22, 2021 65:26


Join Nick Lamagna on The A Game Podcast with special guest Paul Vincent who is bringing back the fun to the legal world with an easy to understand, valuable and entertaining episode every real estate investor needs to hear!  Paul is a licensed attorney in the state of Ohio with extensive experience helping entrepreneurs.  He runs Vincent Esquire with his brother and has earned a reputation as one of the most trusted go to professionals in commercial real estate for setting up syndications and PPMs.  He has worked alongside some of the biggest names in multifamily and shares his secret to building up his own multifamily real estate portfolio without having to deal with tenants, contractors or any of the daily headaches of a typical operator.  Paul shares personal and professional golden nuggets of information for you to better understand how to protect yourself and investments as well as shift your perspective to live a more fulfilling and appreciative life.  This episode is full of logic, life changing legal information you can retain and of course some great laughs! Check the show notes to find all the ways to connect with Paul and make sure to contact Nick to start getting into some real estate deals together! Topics this episode include: ✅  Do's and don'ts of raising private money ✅ How to buy multifamily directly from the bank ✅ The difference between a 506b vs 506c ✅ Why you should talk to strangers ✅ What is a syndication and how is it structured ✅ How to select a market for multifamily properties ✅ Overcoming personal tragedy to find a positive perspective Need to borrow money for Real Estate?  Email Maryann and tell her The A Game Podcast sent you by clicking here  and looking under our affiliates section --- Connect with Paul on: https://www.vincentesquire.com/ Paul Vincent on Instagram Vincent Esquire on Instagram Vincent Esquire on TikTok Paul Vincent on Facebook Deal Structure School Crew Facebook Group Paul Vincent on LinkedIn Vincent Esquire on Twitter --- Connect with Nick Lamagna www.NickNickNick.com Click Here for all social media links and podcast options Free Checklist On How To Add Value To Your Buyers Like what you hear? Leave a rating & review by clicking here     

The Real Estate Way to Wealth and Freedom
Lead Generation & Finding Off-Market Deals with Esteban Andrade

The Real Estate Way to Wealth and Freedom

Play Episode Listen Later Nov 22, 2021 45:56


Esteban Andrade is an online entrepreneur, an expert in finding off-market deals, and motivated sellers, business owner, and founder and CEO of Hesel Media, a lead generation agency that is committed to helping people and scaling companies get more off-market property deals.  He is also the host of The Online Hustlers Podcast, the show will reveal the secrets of successful high-level entrepreneurs that turn hustles into multi-million dollar businesses. Currently, Esteban runs a successful Real Estate Investing Marketing Agency with lots of his REI partners all over the USA. KEY POINTS How Esteban got into the world of real estate investing Lesson learned from Esteban's very first deal Why Due Diligence is important in real estate investing Strategies on finding off-market deals Importance of Lead Generation in finding off-market deals Creative ways to close deals  LIGHTNING QUESTIONS 1.   What was your biggest hurdle getting started in real estate investing, and how did you overcome it?  Not knowing how to find off-market people, but started working and squading up with someone that's already doing deals and with longer experience really helps him.  2.   Do you have a personal habit that contributes to your success? Making sure to stay consistent. 3.   Do you have an online resource that you find valuable? Podcasts, YouTube,https://www.audible.com/ ( Audible), andhttps://www.biggerpockets.com/ ( BiggerPockets) 4.   What book would you recommend to the listeners and why? https://www.amazon.com/Never-Split-Difference-Negotiating-Depended/dp/0062407805 (Never Split the Difference) by Chris Voss  5.   If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be? Don't be a chicken and just do it!  RESOURCES  https://heselmedia.com/ (Hesel Media) https://estebanandrade.com/ (Online Hustlers with Esteban Andrade) https://web.facebook.com/groups/609849489847412/?ref=pages_group_cta (Facebook Group) https://buildingdetroit.org/ (Detroit Land Bank Authority) Visithttp://m/gp/product/B00NB86OYE/ref=as_li_tl?ie=UTF8&tag=jacob0ee-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=B00NB86OYE&linkId=100a9d2905599266aa7088bba0a33d55 ( Audible) for a free trial and free audiobook download!

Cashflow Ninja
701: Scott Reib: How To Shatterproof Your Business

Cashflow Ninja

Play Episode Listen Later Nov 22, 2021 44:15


My guest in this episode is Scott Reib. Scott is known as America's Legal Coach. He's the official Zig Ziglar Small Business Lawyer, a Ziglar Legacy Certified Trainer, and he has over 20 years of experience as an attorney. For the last two decades, Scott has been helping business owners, entrepreneurs, coaches, and service providers to “shatterproof” their businesses and succeed in the professional world. Scott is a firm believer that seeking legal advice doesn't have to be intimidating or expensive if we treat lawyers like primary care doctors instead of ER doctors. Through his subscription-based Access Plan legal service, Scott is making great strides in shifting that perspective. Interview Links: Scott Reib Grab My Book: The 21 Best Cashflow Niches™: www.cashflowninja.com/21niches Programs: The Cashflow Ninja Cashflow Investors Club™: www.cashflowninja.com/club Your Own Banking System™ : www.yourownbankingsystem.com Your Own Family Office™: www.cashflowninja.com/familyoffice The Crypto Investing Method™: www.cashflowninja.com/crypto The Cashflow Creator Formula™: www.cashflowninja.com/creator The Cashflow Core Builder™: www.casflowninja.com/core The Cashflow Multiplier™: www.cashflowninja.com/multiplier The Cashflow Quantum™: www.cashflowninja.com/quantum Connect With Us: Website: http://cashflowninja.com Podcast: http://cashflowinvestingsecrets.com Facebook: https://www.facebook.com/cashflowninja/ Twitter: https://twitter.com/mclaubscher Instagram: https://www.instagram.com/thecashflowninja/ Pinterest: https://www.pinterest.com/mclaubscher/cashflow-ninja/ Linkedin: https://www.linkedin.com/in/mclaubscher/ Youtube: http://www.youtube.com/c/Cashflowninja Bitchute: https://www.bitchute.com/channel/cashflowninja/ Rumble: https://rumble.com/c/c-329875 LBRY.tv: https://lbry.tv/@Cashflowninja:9?r=DoJHKKGqTbf8sdChMP1oLtCrJWEYK3ZM Brighteon: https://www.brighteon.com/channels/cashflowninja Brandnewtube: https://brandnewtube.com/@cashflowninja Parler: https://parler.com/profile/cashflowninja/ Gab: https://gab.ai/cashflowninja Minds: https://www.minds.com/cashflowninja Biggerpockets: https://www.biggerpockets.com/users/mclaubscher Medium: https://medium.com/@mclaubscher Substack: https://mclaubscher.substack.com/

BiggerPockets Money Podcast
251: Is College Worth the Cost? This 30,000 Variable Study Says "Sometimes..."

BiggerPockets Money Podcast

Play Episode Listen Later Nov 22, 2021 78:23


Is college worth it? For the first time in history, we may have a definitive answer to whether or not your specific degree and school choice provides a positive ROI. We know that ROI isn't the only thing that matters when choosing a degree, but when looking at higher education through a financial independence lens, it's definitely the highest value.Looking through census, employment, and Department of Education data is number crunching crusader, Preston Cooper. Preston and his team over at The Foundation for Research on Equal Opportunity put together the most extensive research on college degree ROI ever created. Preston's findings allow you to parse through over 30,000 degrees and school choices so you (or your child) can make the best decision on where to get a bachelor's degree.Preston discusses the discrepancies between nonprofit and for-profit university degrees, whether or not high-cost schools equal a higher payday through life, and why even going to Harvard doesn't secure a high ROI. Want to know the true value of your degree? Tune in and check out Preston's full study!In This Episode We CoverHow much you could benefit, in general, from getting an undergraduate degreeThe degrees that have the highest lifetime ROIDegrees that offer little-to-no or negative financial benefitWhether investing in real estate or a college degree is more worth it The biggest criticisms of Preston's study and how he combats them Dave, Mindy, and Scott's ROI on their respective degrees And So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Apartment Building Investing with Michael Blank Podcast
MB293: Scale Your Syndication Business Through Social Media – With Brandon Turner

Apartment Building Investing with Michael Blank Podcast

Play Episode Listen Later Nov 22, 2021 43:38


Imagine having the ability to raise $100M for syndication deals in less than 18 months on your favorite social media platform! The fact is, you can take advantage of Facebook, Instagram and even TikTok to reach accredited investors and build connection until they trust you with their money. But how do you create a personal brand and grow an audience online? Brandon Turner is a real estate investor, entrepreneur, speaker and host of the BiggerPockets Podcast. He serves as Founder and Managing Partner at Open Door Capital, a firm that focuses on value-add multifamily properties and mobile home parks. Brandon is also the coauthor of the recently released two-volume series The Multifamily Millionaire.  On this episode of Financial Freedom with Real Estate Investing, Brandon joins cohost Garrett Lynch and me to discuss his recent shift to large multifamily projects, explaining how his platform allows him to raise tens of millions in days on Instagram. He shares his passion for mobile home parks, challenging aspiring investors to ‘follow our fire' and surround ourselves with the people doing what we want. Listen in for Brandon's insight on building a personal brand and learn to leverage the power of a platform to scale your syndication business! Key Takeaways  What inspired Brandon's shift to large multifamily Got in room with investors doing bigger projects Realized not aligned with what could be doing Why Brandon is fired up about mobile home parks Wanted to be at bottom of market in recession Love challenge of hard things (passion = suffering) Brandon's pivot to large multifamily syndications Bring ability to raise capital to JV partnerships 3 deals worth more than 20 mobile home parks Why Brandon likes building his platform on Instagram Good for getting people to know, like and trust you People choose to invest based on how you live How Brandon would build a following if he had to start over Use Instagram reels/TikTok to reach lots of people Build connection on Instagram, funnel to email list Why Brandon is building his email and text lists Instagram can't take away addresses or phone #s Reach out to accredited investors (high open rate) Brandon's insight on building a personal brand How other people feel when think about you Lean into what people say, e.g.: @thedatadeli The pros and cons of investing in small multifamily Less cash required and easier to manage Can only get so big, more competition on deals The pros and cons of investing in large multifamily  More risk, must be good at business Can scale quickly and buy $1B in short time Brandon's advice to aspiring multifamily investors Option 1—learn with small projects and scale up Option 2—bypass with help of mentor/partner Follow your fire Connect with Brandon Turner  Brandon on Instagram Brandon on TikTok Brandon on BiggerPockets  The Multifamily Millionaire, Volume I by Brandon Turner and Brian Murray The Multifamily Millionaire, Volume II by Brandon Turner and Brian Murray Resources  Find Out More About Michael's Platform Builders Masterclass Get Tickets for Deal Maker Bootcamp  Join the Nighthawk Equity Investor Club Download Michael's Free Report—What's the Best Investment: The Stock Market or Real Estate? Register for Deal Maker Live Learn More About Michael's Mentoring Program  Financial Freedom with Real Estate Investing by Michael Blank Brandon Turner on Financial Freedom with Real Estate Investing EP221  BPCON Brian Murray on LinkedIn  Slybroadcast  Dave Meyer on Instagram  Joe Fairless  Grant Cardone  Michael on Facebook  Michael on Instagram  Michael on YouTube  Apartment Investor Network Facebook Group  Podcast Show Notes

BiggerPockets Real Estate Podcast
534: Seeing Greene: Should I Buy Now or Wait for a Market Cool-Off?

BiggerPockets Real Estate Podcast

Play Episode Listen Later Nov 21, 2021 73:07


Welcome to another episode of Seeing Greene! That's right, David Greene is back with more real estate answers, some brand new metaphors, and basic Jiu-Jitsu knowledge for the new and experienced real estate investor. In this episode, we're taking ten questions from BiggerPockets listeners, investors, agents, and rookies looking to build wealth through real estate.David discusses topics ranging from investing out-of-state vs. in-state investing, whether cash flow or appreciation is a more important metric to track, and how to accurately value a property when using more than just data and numbers. David also gives advice on building systems within your business to help you get more deals, and making your investing machine much more scalable.This episode has questions from non-investors, rookies, and veterans so no matter what stage of investing you're in, David answers a question for you!Have a question you want David to answer on the next Seeing Greene episode? Submit your video submission at Biggerpockets.com/david.In This Episode We Cover:The spectrum of investing and why you need to seriously consider cash flow vs. appreciationWhy waiting on the sidelines may lose you more money than investing in a hot marketUsing more than just numbers and data to analyze a potential dealHow to return profits to investors and whether an equity or debt split is bestSystematizing your deal flow and taking advantage of CRMs (customer relationship management)How agents can build their reputation in areas with far higher commission checksWhat to do if you feel like you don't have any valuable skillsAnd So Much More!Links from the ShowBiggerPockets ForumsBiggerPockets BlogsBiggerPockets Youtube ChannelBiggerpockets.com/startSubmit your questionsBiggerPockets CalculatorsBiggerPockets Podcast 322: 3 Things Every Leader MUST Do to Scale with Ben KinneyBrivity CRMClick here to check the full show notes: https://www.biggerpockets.com/show534See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli
From an $8 a Week Food Budget to Becoming a Millionaire with Sandhya Seshadri

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli

Play Episode Listen Later Nov 19, 2021 46:20


Sandhya Seshadri is an absolute powerhouse in the multifamily space, but it didn't get like that overnight. Sandhya's started with only having $8 a week for food to her name. Three years later, she began generating millions in multifamily investments!Sandhya's strengths lie in acquiring cash flow positive and value-add multifamily assets in low crime neighborhoods. She increases property value, improves communities, and maximizes ROI for her investors by focusing on value-add in Dallas, Fort Worth, and specific Texas markets.She has unique experience as a general partner in all aspects of multifamily, from broker relationships, underwriting, analysis, and raising capital to asset management and closing syndication deals. On the LP side, she is currently involved with 20 multifamily properties totalling 3500+ doors with $1.4M+ invested.You'll discover that Sandhya has so much wisdom in all aspects of commercial real estate, and you're going to come away with a lot of golden nuggets from this episode. So jump in and check out Sandhya's incredible story and the strategy that took her from an $8 a week food budget to becoming a millionaire! Quotes• “The biggest tip I would give people to find their first deal is to say: how you get experienced partners to join you is by figuring out how you can add value to them.” (7:49 - 8:00)• “Our passive investors are getting a 3.18x return in 26 months. So in other words, $100,000 is becoming $318,000 with this closing. It's just insane how well this property has done through COVID. And the reason is the community activity.” (21:38 - 21:55)• “As an immigrant, I came here with two suitcases and an $8 a week food budget, and I got a scholarship to attend school, which is why I was able to afford living here.” (25:52 - 26:01)• “ So in terms of the starting from rags to riches kind of concept, I think the mindset is the most important thing. And if you have the determination, there will always be a way and there will always be mentors along the way who will help you get there.” (28:20 - 28:33)• “So what is it that people come to you for? Figure that out very quickly and from there go in and say, ‘how can I apply this to my real estate world?'” (29:47 - 29:56)• “Wherever you are, don't say that that's the only place for you to stay. You can do a lot more. (37:37 - 37:42)Connect with Sandhya Seshadri:IG: @sandhya_multifamilyFB: https://www.facebook.com/sandhya.seshadri.9 LinkedIn: https://www.linkedin.com/in/multifamily4you/ Guest Website: multifamily4you.com Sandhya's book recommendation:Atomic Habits by James Clear The Real Estate InvestHER Membership Our Membership focuses on three pillars: Real Estate Investing, Business Strategies, and Self-Care. We provide a financial freedom road map for women to create steady recurring income to live life on their own terms. Start today with our FREE membership level.During the next month (while the rest of the world is gearing up for the holidays) remember to step up your deal finding activity! One way to do this is to work with the right real estate agents who are focused on your NICHE! If you are interested in buying a vacation rental, you need to check out the Short Term Shop. They have a team of agents that will help you find the perfect vacation rental in the perfect market. And Avery Carl, a real estate investor and the founder and CEO of The Short Term Shop, has just written a book published by BiggerPockets called Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties! Learn more about Avery and her team here - https://www.theshorttermshop.com.Your Voice Matters. We appreciate your feedback and would like to hear from you. Click here to answer a few questions about our podcast.Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvestherYouTube: Watch our shows hereSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

BiggerPockets Money Podcast
250: Finance Friday: Laying a Strong Financial Foundation in Only a Few Years

BiggerPockets Money Podcast

Play Episode Listen Later Nov 19, 2021 66:17


Everyone knows that tech salaries tend to be on the higher end. In tech, you could be working as an engineer, programmer, or statistician, like today's guest Matthew. But, Matthew never planned to go to school for this type of work. Half a decade ago, Matthew was wearing a chef's apron, working forty to sixty-hour weeks, making slightly above minimum wage. He loved the work (and the food) but realized he couldn't keep living with the long hours, low wages, and high stress.Mathew went back to school to study statistics and landed a job in tech, which he's just recently moved on from, and accepted a far higher salary. This all sounds like good news, so what exactly is Matthew having trouble with?After maxing out many of his retirement accounts, Matthew is wondering where else he should be putting his money. He's already saving a significant amount every month, thanks to his frugal lifestyle, but wants to be sure he's standing on a strong financial foundation. Should he look into rental properties, taxable brokerage accounts, or higher-risk assets like tech stocks and crypto? If you're lucky enough to have a little extra change left over at the end of every month, you may be in Matthew's position too!In This Episode We CoverChanging careers even after you've been working in the industry for yearsWhat to do if you're young and don't know which field to study Keeping your expenses low, regardless of how well your job paysStarting side businesses that can help you float expenses Investing in after-tax retirement accounts vs. investing in post-tax retirement accountsLive in flip tips from the master herself (Mindy Jensen) Calculating out your estimated retirement nest egg using the ‘Rule of 72'And So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

FamVestor Podcast
094 | Life after FIRE

FamVestor Podcast

Play Episode Listen Later Nov 18, 2021 68:06


Lue and his wife were able to retire from cooperate America and live off passive income at age 38. Before early retirement, Lue was a computer programmer in the NYC area for 14 years. Lue enjoys spending time and traveling with his wife and three children. Lue's personal motto is passive investing, active parenting. Lue has been a passive real estate investor since 2015. Starting out with one single-family rental, Lue has invested in 39 real estate syndication deals. Lue's current portfolio includes indirect ownership of over 17,000 apartments, 15,000 self-storage units, 1,000 manufactured home pods, 4.5 million square feet of industrial warehouses, 6.4 million square feet of office, and 140,000 square feet of retail in 26 states. https://www.famvestor.com/094 Links: Lue's first show: https://www.famvestor.com/025 Contact: mr.luechen (at) gmail.com

Real Estate Uncensored - Real Estate Sales & Marketing Training Podcast
Matt Faircloth On How to Use Real Estate Investing to Totally Transform Your Life

Real Estate Uncensored - Real Estate Sales & Marketing Training Podcast

Play Episode Listen Later Nov 18, 2021 62:45


Real estate investing has the power to completely change our lives and turn our wildest dreams into reality. The only question is, is there a ‘right' way to do it?   What are the things we need to know before we go down the path of real estate investing? Is it possible to make big moves without taking big risks?    In this episode, owner of The DeRosa Group and author of Raising Private Capital, Matt Faircloth shares how he approaches real estate investing.    Three Things You'll Learn in This Episode  The best markets to invest in “Sexy” markets tend to be over-saturated, and declining markets are risky, so where should we be investing, instead?    1 thing to look at before purchasing an investment property What key piece of information should we be looking into before putting any money down?    What investors need to know about loans Rates have been at an historic low for some time now, but is that likely to change in the near future?   Guest Bio Matt Faircloth is the Founder and CEO of The DeRosa Group and the author of the acclaimed Amazon Bestseller, Raising Private Capital. A seasoned investor of over 15 years, Matt has completed over $40 000 000 in real estate transactions and controls over 800 units in multifamily. Passionate about helping others transform their lives through real estate investing, Matt is a regular contributor and guest on BiggerPockets.com and also has his own YouTube channel, dedicated to educating investors. Matt is the co-host of The Healthy Wealthy Wiseguys Show podcast.    To find out more, go to: https://derosagroup.com/ https://store.biggerpockets.com/products/raising-private-capital?variant=32588975571040 https://www.amazon.com/Raising-Private-Capital-Building-Peoples/dp/1947200984 https://www.youtube.com/c/DerosaGroupTrenton  https://mattandiggy.com/ 

Working Capital The Real Estate Podcast
House Hacking Strategy with Craig Curelop | EP79

Working Capital The Real Estate Podcast

Play Episode Listen Later Nov 17, 2021 39:53


Craig Curelop is a Real Estate Agent and Investor. He is an Author of The House Hacking Strategy: How to Use Your Home to Achieve Financial Independence and Co-host of FI Team podcast. In this episode we talked about: - Craig's Bio & Background - House Hacking Strategy - Expansion of Craig's Real Estate Portfolio since 2017 - Working at BiggerPockets  - Real Estate Investing Strategies  - Writing a Real estate Book - Sourcing Deals - View On Current Market Environment - Short Term Rental Market Outlook - Financing Deals - The Advice to People who Consider Making a Career in Real Estate - Building a Team  - Mentorship, Resources and Lessons learned Useful links: https://thefiteam.podbean.com https://www.instagram.com/thefiguy/?hl=en Transcriptions:  Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, my name is Jesper galley and you're listening to working capital the real estate podcast. Our special guest today is Craig . Craig is a real estate agent and investor. He is author of the host hacking strategy and co-host of FII team podcast, Craig, how's it going,   Craig (37s): Jesse? So good to be here today. I'm doing great. How   Jesse (40s): Are you? I'm doing awesome, man. I can't complain we're on the tail tail end or just, just pass Halloween. So I, for those that can't see us right now, we've got a couple of mustache here, but I feel like yours is for a Movember   Craig (53s): Mine's is just for life and his life. The lady, the lady loves the mustache, so we   Jesse (58s): Keep it. That's amazing. So it's just a lifestyle choice.   Craig (1m 1s): It's a lifestyle choice. Yeah, man. It's been like a year. I think it's, I'm almost, I'm approaching my one year mustache anniversary, so I love it. There should be a, there should be a celebration for that.   Jesse (1m 10s): Oh, I said we were just chatting. I have mine on, I meant to shave it off. I was afraid of mercury for Halloween and now I, and now we're in November, so I don't know what to do, dude. You   Craig (1m 18s): Look good. You should keep it.   Jesse (1m 21s): I appreciate it, man. Are you joining us today from, from Denver?   Craig (1m 25s): Yeah, I am here in Denver. Yeah. Been here four and a half years.   Jesse (1m 30s): Sweet. Well, thanks. Thanks so much for coming on the show. Really appreciate it. I think we'll have a great episode here. Talk a little bit about your background in real estate and love to get into house hacking and the book. But before we do, maybe what we could do is talk a little bit about how you got into real estate and bring us up to speed of what you're doing these days.   Craig (1m 52s): Yeah. So I got into real estate because a lot of people like a lot of people, I hated my job. And so I was actually working like a venture capital type role in Silicon valley, which sounds super sexy and super cool. And I was hanging out with mark, like I was hanging out with mark Zuckerberg and Elon Musk and all that, but that wasn't, that's not really the case. Right. I'm actually just like buried in spreadsheets, working hundreds of hours a week is what it felt like. And really just getting paid like an abysmal amount on an hourly rate. And I just kinda came to this conclusion that there's no way I wanted to do this for the rest of my life and what, like, what's the way to out.   What's an early way to retire. How do I achieve financial independence? And that's what kind of real estate came to mind through a lot of iterations I went through, I tried to do start my own startups, which was just horrible, horrible stuff. And then I was like, I don't need to be mark Zuckerberg or Steve jobs or anything like that. Right. I can just be a real estate investor. And so I found bigger pockets pretty quickly after this deciding I wanted to get into real estate just was absorbing absorb, absorb information for about six months. And then I was like, okay, I got to get out of Silicon valley. Cause I just can't afford anything here.   It doesn't seem like this whole house hacking thing really works in Silicon valley. So I actually moved to Denver, got a job at bigger pockets, which was like a dream come true. Started surrounding myself with real estate investors and people that were doing things that I wanted to do. And, you know, got my first property in that was April, 2017 or actually started June, 2017. I got my first property   Jesse (3m 21s): Right on. And that first property was that a, was that a house hacking proper property. And, and I guess before you answer that, maybe for listeners just to update people that don't know how sacking would, is it?   Craig (3m 33s): Yeah. So how's hacking is the idea that you buy a one to four unit property with a low percent down, typically three to 5% down. You have to live in it for a year. So if it's a single family house, you're living in a room, if it's a two to four unit, you're living in a unit and you rent out the parts that you're not living in, so that the rent covers your mortgage and you're able to live for free or at least drastically reduce your housing expense. And because your housing expenses probably your largest expense, you're actually able to save a lot more money. So you can go ahead and buy the next investment.   And so that's what I did on that first property. I purchased a duplex. This was before anybody really knew about the rent by the room strategies before that was popular. So the only way to house at this time in my head was to buy a duplex live in one side, rent out the other. So it was an uptown duplex. I lived in the bottom, rented out the top and I wasn't quite covered my mortgage. And I was like determined to cover my mortgage. It would have been a great house either way, but I was determined to cover my mortgage. So I Airbnb it out my bedroom and put up this like cardboard box room divider thing, slept on a futon and made that where I slept for one year.   And that was my 24 year old hustle self.   Jesse (4m 47s): So that, that is a pure house hack right there. So in terms of the, the uptown, was it already, was it already converted to the ability to have a walkout? What did that?   Craig (4m 58s): Yeah, it was totally turnkey. And so with house hacking, I firmly believe, and I stand by this. I was like this to the grave. Is that a turnkey property? That in by Turkey, I just mean the rehab is totally completed for you is much better than doing a rehab when you're doing the house. Heck because with house hacking, right, the, the magic is buying one every single year on the year and your year does not start until you close on that first property. And so let's say you close today's November 1st, let's say close today, November 1st.   I can't buy another one until November 1st of next year, but if I'm doing a rehab, that means I am spending more money. I am not getting money from my tenants. And that may push me back if I have to save another 20 or 30 grand to get the house hack on November 1st. So who cares if I have an extra 30,000 of equity in my house, which I can't use, I need 30,000 in my pocket, which I can go buy the next house for.   Jesse (5m 52s): And the one year is that, is that a financing thing? Is that just a strategic thing?   Craig (5m 57s): Yeah, that's a financing thing. So in order to get those low down payment loans, the three to 5%   Jesse (6m 1s): Down the bank says, you need to live there for at least one year. So yeah. Yeah. I find, I find too, there's a, depending on kind of the weather American Canadian, depending on which state you're in, I know that the ability to move in or displace a tenant oftentimes has a one-year horizon on it that they want you living there for one year. But to your point, yeah. In terms of finance, I think most areas you're going to get that lower financing. When you can say that you're personally moving into the, to the property in terms of the, so, so you start with, you start with that property, how, and that was a 2017, you   Craig (6m 37s): Said 2017.   Jesse (6m 38s): So from 2017 to where we're at right now, a couple of things have changed in the market. You know, some minor things in terms of how you kind of grew the portfolio. If you have from then to now, what does that look like?   Craig (6m 52s): Yeah. So the growth at first, it's really slow because you just don't have a lot of money, right? Like, you know, I remember on that first one, I pretty much depleted almost my entire savings and maybe had like 10 grand left and I needed to save up another 20 or so grand and get the next house hack. And you know, at that time I was maybe saving $2,000 a month. So it was like gonna take me probably a whole year to save up for the next house. Heck. So what I was doing, you know, I call it the lull period in between house hacks where there's really not much you can do. I mean, if you want to be a real estate hustler and start wholesaling and flipping, you could get into that, but I wasn't really interested in those things.   So I just doubled down at my work. I was working at BiggerPockets at the time, doubled down on my work there. I actually asked Scott who Scott trench to see yogurt buckets, basically, how can I make more money here? And I was able to, he actually gave me an opportunity and we created a pathway together to where I could make more money at my, at my W2 job. I was doing Airbnb arbitrage. I was throwing out my car. I was basically just figuring out any possible way that I can make some more money because I want to hit financial independence as early as possible, like so badly because I hated that feeling of being stuck.   Jesse (8m 4s): Yeah. Yeah. It's great. It's looking for different or different streams of income. And for those that don't know, like Turo Turo is great. It's a, it's basically an Airbnb for your card and I'm pretty sure they're in every major market, but so it sounds like, it sounds like for you, it wasn't so much the flipping and the fact that you're going to run a business, you wanted more so passive income and, and longer term, longer term growth.   Craig (8m 25s): That's right. Yeah. I was, I mean, maybe I was scared honestly. Like I didn't want to handle hard money. I was in Denver. Right. So buying a house for 400 grand hard money on that, it's going to be like 50 grand. And I was like only about 20 grand. Right. And then you still got to put 20% down. So it became such a high effort thing that like, I wouldn't be able to do that and have my W2 job. And I really loved my W2 job at the time. Like I was hanging out at BiggerPockets, we were talking real estate network was growing. I had a lot of opportunity at BiggerPockets.   So I was like, just, that is my number one focus. So   Jesse (8m 59s): At the time, what were you doing at BiggerPockets?   Craig (9m 2s): So I was their finance guy. So I say the finance guy, because I was the only person on the finance team at the time. And so basically like doing all their books, running the numbers, making reports for management and stuff to look at. So I, at one point I knew pretty much every number that BiggerPockets had, but unfortunately I don't have that anymore. So my numbers are probably three years expired.   Jesse (9m 26s): Okay. Fair enough. And you've moved at sounds like you've moved from BiggerPockets to another W2 job or are you investing full time?   Craig (9m 35s): No, so yeah, I knew that BiggerPockets is going to be my last w two jobs. And so my, yeah, so I figured pockets. I basically had done three house hacks. So over the course of about three years, I did three house hacks and I felt like I was financially independent, but I wasn't sure. And so the way I test it was I took a zero paycheck and maxed out my 401k. So like my entire paycheck for three months was going to my 401k and I figured, Hey, if at the end of three months, my checking account is higher. I'm financially free.   And if not, well, then I'm pretty darn close. And I just, I just maxed out my 401k. And so lo and behold, it was a lot bigger and I was like, I can, I think I can make it on my own. And so pretty much a month after that, at the end of January of 2020, I quit BiggerPockets and went full-time as a real estate agent, helping people, coach guide and mentor people, helping coach guide and mentor those who want to house hack.   Jesse (10m 32s): Fair enough. So in terms of the, the host hacking itself, so you, you move on to that anniversary, you move in purchasing another property. How sack of that property, what are you doing with the former property in terms of whether you're selling refinancing? What does that look like?   Craig (10m 46s): I don't do anything. I just move out and I put someone else in my place. So just rent it out. I did refinance my first two properties because interest rates were so low this past year in 2021. And so it made a lot of sense. I think I reduced my monthly payment by like, like a total of a thousand dollars over the course of two properties. So easy way to boost your cashflow. And so, so yeah,   Jesse (11m 9s): Yeah, absolutely. Absolutely. But in terms of the, cause the Denver market, it's not the cheapest market in the world. So in terms of you were still able to cashflow, even when you're, you're moving out of these properties with, with the down payment as low as it was.   Craig (11m 24s): Oh yeah. So on that first property, my, my mortgage payment before I refinanced was 22, 2300, I was getting 1650 for the upstairs and 1300 for the downstairs. So my rent was 29 50 and my mortgage payment was about 2300. So six 50 over the mortgage, of course there's reserves and all that kind of stuff, but it was a newer property. So there wasn't a whole lot of maintenance and stuff. It wasn't a great location, so not a whole lot of vacancy. And you know, maybe you put reserves for two or $300 a month and it's still cashflows $300.   And it's in a great area. It's appreciated like probably 200 over 200 grand now in just a few years. So like great property now, since I've refinanced it and rents have gone up this year in 2021, you know, it's, I think I'm making a little over $3,000 on the rent and my mortgage payment is only like 1700 or maybe 1800. And so, you know, now it's closer to a thousand dollars of cashflow on the property and then yeah, same, same thing, same thing as it goes like each one, probably each property that I have in Denver cashflows about a thousand dollars a month.   Jesse (12m 33s): That's great. So being the numbers guy, when you look at these properties specifically on the host hacking side of things, is there an approach that you take that might differ from, from other investors or other investments?   Craig (12m 46s): Yeah. So when you're house hacking, you want to fit, you want to have multiple strategies that you can do, or at least I like having multiple strategies. And what I mean by that is, you know, if you've got a duplex, can you rent it out? Each unit like traditionally and still cashflow, it may not be your best cashflow, but can you still do it? Can you Airbnb it? Can you rent it by the room? How does the layout work? Can you, you know, in a single family house, can you split the upstairs and the downstairs or, you know, the left side from the right side and make two different units out of it. And so properties like that are the ones that we really like.   I pretty much in Denver now, I pretty much only buy single family houses that we could easily convert it to duplexes just based on the layout. And that way, you know, you're getting the house at a single family price in a single family type neighborhood. He renting it out as two separate units that are actually would get you higher rent than you would have to duplex because it's in a nicer area, it's a nicer house. And so the numbers work really well in places like,   Jesse (13m 41s): Yeah, no, that makes sense. And you kind of moved into, I guess, writing with the house hacking strategy. How did that come about? What was that process like?   Craig (13m 52s): Yeah. So writing has, you know, the miracle morning. I do. Yeah. Great. But yeah. Great. So amazing. Both of you haven't read that book. You need to read it a life-changing book, but ever since I started doing that, I started to write every morning and I think he had Ellen Rogers who wrote the book meant means like journaling, but I just enjoy actually just like writing content in the morning. And so basically I write every morning and I was writing blog after blog, after blog for bigger pockets. I think I have probably close to 60 blog posts on bigger pockets. And so they asked me, Hey, do you want to write this book on how second you can?   I was like, hell yeah, I do. And so I, you know, basically instead of writing the blog post every morning, I would just take a stab and write a piece of the book every morning. And after about a hundred days, I had a first draft of a book. And then, you know, for a few months later after the edits and stuff like that, it got published. And that was definitely a, an inflection point in my life.   Jesse (14m 43s): Yeah. I'm always fascinated as listeners probably know of the, the process, the, the, the writing process. We had Chad Carson, coach Carson on the show, by the time you're listening to this, that episode probably has aired. He was talking about the same thing. It was basically from blog to multiple blogs to book. It seems like a strategy that a lot of writers, especially in our space use, as well as, you know, on the other side of, for the individuals that maybe writing isn't isn't their passion, or it's just something that's that doesn't come easily easily to them.   I found that some, some people put content out audio and then basically transcript the audio and then kind of edit from there. But yeah, it's, it sounds like you were the former on that.   Craig (15m 24s): Yeah, no, I, I genuinely like to like touch the keyboard, which is weird, I guess, but like, I like to like make that thing go and yeah, it doesn't take long, you know, if you can just sit yourself, I mean, there's a word counter right on the bottom left, like a Microsoft word document. So I would just be like, I'm not, I'm not leaving this computer until a thousand words richer or whatever you want to call it.   Jesse (15m 43s): And for those that are interested, we'll put a link up for where you can reach out and where you can get the book. But in terms of the, the framework of the book, did you, I mean, obviously you, you wrote through blogs, but in terms of the framework itself, did that change from when you initially wrote it and you know, how did you approach that?   Craig (16m 1s): Yeah. So when you're running a book, it's all about the outline. Like you should spend half the time of half the total time writing the book on the outline, because that is the most important part. If you got the outline, good, the book will just write itself. Right. And so it's almost like almost, you just keep expanding, expanding its spending on the outline until it becomes the book and then you have to go back and, and make it flow. And so really it was just a mixture of yeah. Having a solid outline. Also, I took a lot of my blog posts and just kind of repurposed them a little bit for the book because I mean, a lot of my information is out in the world somewhere.   That's the great thing about a book, because you can even sit into one little thing. And so, and so, yeah, I mean, that was pretty much the process, you know, outline, outline, outline. And then after I had a thorough outline and I went over it with bigger pockets, I just, just started writing a thousand words a day. Every day. You had a, before you had a book.   Jesse (16m 55s): No, that makes sense. So in terms of the, you know, one of the biggest things right now that we're seeing in our market is it continues to be a lot of capital chasing fewer and fewer deals. And it just seems that deals are harder and harder to find where, you know, it's usually one or the other. And in times where there's a lot of deals out there, it's usually financing is harder to find. So in this environment, for those, whether they're looking for longer term properties or looking specifically to do house hacking, what's your approach for sourcing deals and you know, what do you tell clients and investors that you coach?   Craig (17m 28s): And so we get almost all of our deals on MLS and how second is kind of a different beast, right? And the reason for that is you don't need to get a property, super undervalued, add value to it and refinance it, right? The magic is just like slowly collecting rental properties with a low percent down. So you can buy a $600,000 property here in Denver and you're putting 5% down. That's 30 grand, right? And so you've gotten this, you have this property for 30 grand. You have to make the deal work by creatively trying to figure out ways, right? So we've got a lot of people that like to Airbnb, a lot of people that do rent by the room, we've we teach people how to do these split things that, that I like to do.   And those almost always cashflow, right? It may not be a thousand dollars a month at first, but over time, rents are going to increase. You're going to be paying more of your mortgage payment down. Maybe you can refinance to a lower rate. You can take off your PMI and you figure out ways to increase your cashflow over the course of five, seven years. And you know, that that's, the play is the long-term buy and hold. So that's why the MLS works is because again, we don't, we're not trying to like add a whole bunch of value and refinance it, deployed money back out. We're just okay with letting the $30,000 in and keeping it in there.   Jesse (18m 38s): Yeah. And it kind of sounds similar to what we do on the commercial real estate side. We always find that the owner occupier is the one that can pay the highest price for the, for the property because of the, the economies that they have, or the fact that because they're operating out of there. So I guess in a similar way, the person that is house hacking, maybe, you know, not that you're going to pay more than you should, but you probably can be more competitive than somebody that's purely going in there to rent it out.   Craig (19m 2s): Yep, exactly. Right. You can, you can. Yeah, exactly. You can pay more because again, like you're going to be thinking about your competition because the, the, the market's competitive. Right. And if your competition is a lot of it is like home buyers, it's probably more so than house hackers. And so as a house hacker, you can pay more because you're already offsetting your mortgage payment with rents. And so sure, like, what's the difference of like a $50,000 difference is like $250 on your mortgage. Right. It's significant, but it shouldn't be life-changing.   And that $250, you're going to make that back in a month with appreciation. Right. So like, it doesn't even like the price almost doesn't even matter, but make sure you run the numbers and it makes sense, but like with how exactly, I've just never heard anybody lose. Like, and I know a lot of house hackers.   Jesse (19m 50s): Yeah. No, it makes sense. I mean, especially that you're in the property, are there properties that you basically try to avoid or properties that, you know, comparing two properties, say one, like you said, that needs, needs renovations or needs capital improvements. Do you try to avoid those? And, and also just kind of on the same, on the same wavelength when it comes to properties that, you know, you can put a walkout in that doesn't currently have one that would be perfect and create a house hacking property. Is that something you also would look at when you're, when you're looking at properties?   Craig (20m 23s): Yeah. So we like to look at, so creating a walkout can be very hard if the house, like, you know, if the basement isn't already at like our level. So we try to find a house where the stairs to go, like stairs to go from the main level to downstairs is right by maybe a back door or garage door. So you can just kind of wall off where, you know, the backdoor meets the upstairs. And then the, so then just, so when you walk in the back door, it's just, you go down the steps.   And so that those lamps are the ones that we really like, and there's a ton of them in Denver. So that's what tends to really work. I think you had another question, but I forgot what you asked   Jesse (21m 4s): In terms of the, just other capital improvements. Are there, are there certain properties that you, you try to avoid when it comes to, you know, when it comes to spending a certain amount of money to get it to where you need it to be? Okay.   Craig (21m 16s): Yeah. So again, I like the layout to be, like I said, right where the, the less amount of work I have to do the better. So if I have to like dig a separate entrance, like that's a lot of work, expensive egress windows can be very expensive and they've gone up in price in my market when I was putting them in like a couple of years ago, it was 3,500. Now it's close to $5,000 for a regressed window. And so if, if egos windows are already in there, that is really helpful. If there's some sort of plumbing fucked up to the downstairs, we can hook up a kitchen fairly easily.   That's really nice. And so, yeah, those are all the things that I kind of look for. There's nothing that I, I like nothing in particular that I wouldn't do, but if it's like, not even like it, but I wouldn't like force a house to make it a house hack. If the layout doesn't work and all that, like, there's, there's plenty of houses where the way it does work.   Jesse (22m 5s): Yeah. Fair enough. So just shifting gears in terms of where we're at in the market right now, I know that, you know, as you mentioned, you, you write a bunch of blogs. I've seen different posts that you've had. I'm curious to get your thoughts on the current market environment that we're in. Obviously, you know, there's been lockdowns for a few years, almost two years now, if not, yeah. Over we're coming into it right now to two years in terms of how that's affected, if it has at all, the way that you're viewing the real estate market. And is it informing decisions that you're making today?   Craig (22m 37s): Yeah, that's a good question. So, so COVID was probably the best thing that ever happened to me from a, it from a financial standpoint, which maybe I'm, I think I'm one of the few, because when everything's shut down in April and may of 2020 is right. When I basically started my real estate agent business and no one was doing showings. Right. And it was super competitive before that, but no one was doing showings and Denver never really shut it down. Like they never made it. So you couldn't schedule it. Like there were some markets where you couldn't schedule it Denver, you can still schedule it.   And I was talking to like my buyers and I was like, well, no one else is looking right now showing percentages, showing times like showing rate is down 88%. So I swear we're probably the only ones even looking and the seller wants to sell and you want to buy, so if you're cool with it, like I'm cool with it. Let's just go and it will be, you know, six feet apart wear the mask, whatever, like, you know, and, and so we did that and we were for like a few months there, every offer that we were putting out there was getting accepted and it was at asking price. And it was like, it was even below asking price, which was like beautiful for them, for the buyers.   Obviously that was only a short window. And then as things started to heat up again towards the end of last summer, and then all through winter 20, 20, 20, 21, and throughout 2021, things got started really heating up and getting really, really competitive. And that's where house hacking comes into play. Right. Because it's like, Hey, not only were the price is going up, but rents were also going up as well. But we were saying like, okay, let's just analyze the deal, right? Like it's listed for 500,000, can you pay five 50 for it? Like, this is what your mortgage payment would be.   This is what you'll get in rent. You're still going to be making over a thousand dollars a month, like who cares what the listing price is and how much over we have to go. Then the only downside was the appraisal gap coverage, right. Where, you know, for the listeners that may not know is if the appraisal is, comes in lower than the purchase price, someone's got to make up that difference in cash buyer or seller or combination of the two. We kind of had a, a way around that as well. And so should I get into that or please do so, so one thing that we did a lot of was we would set the inspection.   So we would set the inspection for maybe seven to 10 days out. So let's say, you know, you're under contract on November. First inspection would be November 10th. We would then immediately call the lender and get a rush appraisal to be done like that same, the same week. So we're reporting this on a Monday, the appraisal would be backed by Friday before the inspection deadline. If the appraisal comes back super low, we can still back out because of the inspection. So we were able to fully waive the appraisal while still having to be able to back out on the inspection. And that was a strategy that I think a lot of, well, maybe we were the only ones to do it, but I'm sure we're not the only ones to do that strategy, but that worked really well for us in terms of getting deals in our contracts, getting deals done and making sure both parties were very happy.   Jesse (25m 33s): No, fair enough. And in terms of the short-term rental space. So I think you've, you've written blogs on this in terms of that area of the business, you know, how has, how do you see that market given everything that's transpired over the past year and a half, two years? And do you think, do you think it's a S it's a space that is going to be coming back? If it has an already   Craig (25m 55s): It's already come back and it's tough. It's like, it's doubled since, but it was, so I had a whole bunch of short term rentals. I was one of the scared ones that shut, shut everything down and turn into long-term rentals during COVID. And I think a lot of people did that. So the supply and demand just wasn't there. So then as more and more Airbnbs came on and we started air, like our clients started being, they were just crushing. It they're like, dude, I like you told me I was going to make like 3000 a month. I'm making 5,000 a month, like, like the are conservative numbers. Like they were blowing our numbers out of the water, which was great.   Like, I would much rather have people be happier in that regard. But, you know, as, as, as, as far as where it's going to go, like, I don't have a crystal ball. I don't know. That's why I always say like, Airbnb can be your plan a right. And that could be the way you make your most money, but like, make sure you have a plan B that also cashflows, even if it's only a hundred bucks over the mortgage, just so you can hold it, hold it through this recession or whatever, because, you know, when, when, whenever this recession hits that we're going to have at some point, right? Like the first thing that's going to go is recreational travel business travel is probably going to be a lot less, especially with zoom and all of these things that have come to fruition through COVID and there's going to be a lot less reasons for people to travel and want to travel.   And so if the Airbnb, I mean, at the end of the day, Airbnb hasn't even gone. Hasn't even made it through a recession yet the company Airbnb. Right. So we don't even know how they would handle it. So just to have that, have that like backup plan, I think it's super important.   Jesse (27m 24s): Yeah. In terms of the actual financing of deals, obviously you're doing a particular strategy and niche when it comes to the house hacking, but generally speaking, do you have a, a certain methodology or philosophy about how you handle the debt side of your business?   Craig (27m 41s): So I, I personally am trying to get as many, as many Fannie Freddie loans as I possibly can, because we all know that's the cheapest and that's the best kind of debt you can have. I think you're allowed to have up to 10 Fannie Freddie type loans. Once you've maxed out at your 10, you know, then you have to start thinking about other creative ways. And so right now, I think I'm at like seven or eight, I'm going to probably be at 10 by early next year, but I'm fine with that.   Like, I kind of just want to exhaust my 10 because now I'm going into like more commercial real estate investing, triple net, lease side stuff and all that. And that's where I see the future of my real estate investing going. But yeah,   Jesse (28m 24s): No, that makes sense. I want to kind of shift a little bit to something we talked about at the beginning. So your W2 job, or, you know, your, your normal kind of day to day job. You're not dissimilar to a lot of people that we have on the show that make the jump into full-time investment for people that are looking to get into real estate or people that are into real estate. And they're coming up to what, you know, you had an inflection point, you know, what do you, what, what would you say to those individuals in terms of actually kind of leaving the, the day job and you know, what seems like a pretty, and it is a scary, scary move, you know, what, what are your thoughts on that?   Craig (28m 59s): I mean, it's uncomfortable doing so, right. But think about it this way is that your worst case scenario is the scenario you're in right now, right? Your worst case scenario is as you quit, you maybe lose $5,000 on an experiment of trying to, you know, do something for yourself. And then you have to go back and get another job. Right? Like that that's really a hardest. And so if you can kind of just like, look at it as an experiment and look at it, like nothing is permanent, just because you say you quit, it doesn't mean you have to quit forever.   Right. And also, I like the idea that, yeah, you've got enough rental property, passive income to support at least your basic living expenses so that you have enough runway. So that it's, it's not, you know, it's not an issue, you know? Yeah. So   Jesse (29m 44s): For you, it wasn't, it wasn't like a burn, the boats thing where you just absolutely, you know, drop it and say, I'm going to start buying real estate. It was buy real estate, figure out what that number is to make it, make it at least somewhat more comfortable to make, to do that transition. Do I have that right?   Craig (29m 59s): Yeah. Yep. Is that right? Right. I mean, I think for me, I had like $3,000 of passive income and I was like, I'm a single dude. Like I can live off of that as long as I say frugal. And then once you become your entrepreneurial self, you can make a million times more than you ever could have W2. And that will just funnel you're, you know, getting more financially independent or, you know, more fat financially independent, or however you want to call it.   Jesse (30m 22s): No. Fair enough. So in terms of the, you know, you mentioned you, you did get licensed, so as a licensed realtor, you kind of moved into that space, the fit team. Is that, is that on the investing side or is that the, is that on the broker agenda things?   Craig (30m 36s): Yeah, so I ended up being like so busy last year that I either had to quit or start a team. So we started a team. We, we got a team about 1520 agents now that are all house hackers, all investors, at least on the investment side. And so we help coach guide, mentor people through that process of house hacking. We've got pretty much everything you need in terms of, you know, relationships with vendors, leases, calculators, like we'll walk you through the entire process if you need us to just because that process is so scary to like the first person putting their, like 30 of the $40,000, they've saved up for their whole life into one house.   It makes you feel better when you've got a whole team of people with, you know, hundreds of deals under their belt, kind of guiding you through that.   Jesse (31m 23s): Yeah, for sure. And I mean, in terms of the team itself, the, the team that you built out and the coaching that you have, was that something that happened, it seems like you, you had the demand. So you built out the team for those that are building their own team w with real estate, whether it's sourcing real estate, trying to get property managers, what are your recommendations? Kind of some of the stuff that you've found that were helpful to you when you were starting out and you're buying these first few properties,   Craig (31m 52s): I I'd say like, just document your systems as best as you can. Loom is something that I use a lot. So I'm sure people know about it by now, it's a screen recording thing. It's a plug-in on Chrome and anything you do that is repetitive, you should be looming it. Right. And you save it somewhere so that someone else can do it. Right. So, so these days I'm doing very few. I really don't do any showings. I really don't do any contract writing. I've got the team that does that and they can ramp up so easily without asking me hardly any questions, because I literally have videos and videos and templates and samples of all of that.   Right. So we can onboard a new agent pretty quickly and they're up and running very quickly. And the questions they asked me are like high level questions that they should be asking me. And so I can stay kind of in my 20%, which is know content creation coming on, podcasts like this, right. Doing stuff like that to just to just grow the, grow the brand.   Jesse (32m 46s): Yeah. That's great. I love the loom. And it's funny now, like two years or a year and a half after everything, that's, that's really been going on in the world. It's nice that we have zoom, loom, Skype, where you can actually, you know, when you're hiring something, somebody just the other day, my partner and I were like, okay, we can give instructions to this person. Or we could just record the call, the onboarding call. And then, you know, they, he, or she has a reference.   Craig (33m 7s): Yeah. It's, it's so amazing. Like, and I think it's way easier. Like the old fashioned, like paper trail documents, like your type every step-by-step. We have a little bit of that, but the loons are just so much easier and so much better too. Like it's a picture is worth a thousand words. Right. So video's worth like a million.   Jesse (33m 24s): Yeah, no, a hundred percent. A 100%. And then you ha it's, it's more dynamic, right? Yeah. You can have somebody in real time asking you questions and then solve it, solve it right there. Awesome. Well, we have, we've got four questions that we ask every guest that comes on the show and want to be mindful of the time here. But before we get to that, in terms of the coaching that you have for people to reach out we're where can they find find you? And, you know, what's the best route for them to, to take on.   Craig (33m 51s): Yeah. So, you know, we've got our podcast, the fight team podcast is actually being rebranded here shortly. So we're going to come up with a new name, so be on the lookout for that. And then, you know, if you're, if you're in the Denver area or you need a real estate investor from the real estate, Adrian, the fight team.com is where you can find us. And I'm also on Instagram. If you want to just kind of check out my stuff at the fire guy.   Jesse (34m 12s): Absolutely. We'll put a link to everything in the show notes, but yeah, let's go to the final four here. If you're, if you're ready to go, I'll send them your way. Let's do it. Okay. What's something, you know, now in your career, it can be real estate or business that you wish you knew when you first started out.   Craig (34m 30s): I wish I knew the who, not how concept have you heard of, you know, that mother basically. Yeah. That whole thing of why stay in, what do you do best in stay in your zone of what you do best at anything. You don't do good. Hire someone to do it for you. Cause they're not only going to do it better, quicker and probably cheaper, but it's going to also grow your business much faster and you're going to be happier.   Jesse (34m 56s): Yeah. I can't, I can't recommend that book enough when we were at the BP con BiggerPockets conference in new Orleans, I was think Dan Sullivan is the author awesome book. It's it really is. It really changes the way you look at things because for so long, we're taught, you know, if you, if you get somebody to collaborate with you, if you give somebody a task that you're, you know, you're cheating in school. Right. But really the idea of find, find out who's the best person to do that. And it should be, should it be taking up your bandwidth or not? Yep. Love that.   Awesome. All right. Number two here. What is a, a book that you seem to constantly be recommending and we'll put the who not, how on put that aside for a second or podcast that you, that you keep recommending?   Craig (35m 40s): I guess the miracle morning doesn't count either. Cause he already mentioned that one, definitely the miracle morning and who knows how or applied my tattoo a podcast, obviously there's a bigger pockets podcast. That one is kind of a no brainer. Can I just depends on where you are in your journey. But I think like for, for fundamental business books, miracle morning changed my life. Who knows how it changed my life. And also the E-Myth is, is really, really good if you're thinking about growing a business and long people wanting to step away someday.   Jesse (36m 9s): That's great. We'll put links up to those as well. In terms of people that are getting into the industry, people that are, whether it's through brokerage or looking from the investor's lens, what would you tell them in today's market? And just generally your thoughts on mentorship?   Craig (36m 27s): My thoughts. So, so in terms of the market today, I think like you have to just like keep buying no matter what the market's doing, because timing the market is like been known to be fail failure right now, known to fail. So just dollar cost, average it by one a year with the course of 10 years and you'll buy it the highest you'll buy it. The lowest in terms of mentorship and stuff. I think you really, I hate that term mentor. I hate when someone asks me to be their mentor, I kinda just wanna be your friend, right? Like I'll be friends with almost anybody, as long as you're, we've got the same values, the same morals, and we're kind of on the same page.   So just like go to meetups and just start talking to people, right. And then follow up with them and grab a coffee with them and grab dinner with them and go on a hike with them. And before you know it you're, you've got a friend and maybe they're more experienced than you. Then they become your mentor. Right. They're going to naturally just give you advice. They're going to want to help you. And so that's like my favorite way to mentorship is just becoming friends with people that are both above you. So you can be the mentee and below you. So you can be the mentor.   Jesse (37m 25s): That makes sense. All right. The last one, Craig, first car make and model.   Craig (37m 30s): Oh man. He tried to get to my bank accounts. It's a 2002 Dodge. Intrepid was my first car   Jesse (37m 38s): Right on. And I said, that's not the one you put on Turo.   Craig (37m 41s): No, no. The one I put on Turo was a Toyota Prius, which got smashed up. But yeah, that's a fun, fun story. Maybe we'll dive into it real quick. I think I lost you on the yeah.   Jesse (37m 57s): Okay. Yeah, no, you can get into it. Cause I know you put a, you put a blog out as well about, about just different income streams I think. And Turo was a Toro was definitely one of them I believe.   Craig (38m 8s): Yeah. So yeah, back in the day, Touro was a street, was an income stream that I had to kind of while I was at bigger pockets and I could fight to work. And so basically I, I was proud of myself. I read, never split the difference by Chris Boston negotiating book. And I was able to negotiate the price of that car from 12,500 down to 10,000. So I bought the car for 10,000. I Ubered it for awhile. I toll road for awhile. The car probably made me about $10,000 over the course of two years. And then someone crashed on Turo. The Touro com whatever the company has, some insurance policy where they actually paid me out like 11,500 for it.   I ended up like getting more than I ever paid for it initially after, you know, however many miles later. And then I bought a crappy car for like 50, for like five grand and kept the six grand and invested in real estate. So   Jesse (38m 57s): There you go. Always, always on the move. Awesome. All right. Well, we'll put links up to, to everything that we talked about here. And just for those that, you know, I know you have a presence on Instagram as well. Could you just let us know the handle for that as well?   Craig (39m 11s): Yup. It's a, the fire guy. So like the financial independence guy.   Jesse (39m 17s): Awesome. My guest today has been Craig Kurloff Craig. Thanks for being part of working capital.   Craig (39m 21s): Thanks for having me on Jesse. Appreciate you.   Jesse (39m 31s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse for galley. If you liked the episode, head on to iTunes and leave us a five star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one. Take care.  

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli
MINISODE How to Create a Self Care Habit That Sticks

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli

Play Episode Listen Later Nov 16, 2021 14:00


One of the three pillars we hold nearest and dearest to our hearts is the pillar of self-care. We need to be taking care of ourselves as women. Duh, right?! We all know that. But the more I continue down my journey through independence, the more I realize that there is a gap between the ‘knowing' and the ‘doing.' It's something we all know we need, but it's not that simple. To have a healthy ‘self-care life,' it takes creating habits that stay with us even when we're not thinking about them. In this episode, we want to talk about the four buckets of self-care (mental, physical, emotional, and spiritual) and the habits to put in place to honor those four areas.So give yourself a little break, take a breather, and dive into the conversation as we unpack how to create a self-care habit that sticks. Quotes• “Self care just doesn't happen by itself… It doesn't just happen without an intention, a really clear intention.” (2:55 - 3:04)• “It's not outside of us. It's really something we want to feel more - that we're taking care of ourselves. we feel more present, you're more joyful, we feel more happy, we feel like we're creating this financial independence and this financial freedom in a way that is calm and is connected to what we're up to in our purpose.” (3:54 - 4:14)• “Are you, on a daily basis, aware of how you feel and mindful of how you feel? And are you able to course correct when it's not serving you?” (6:24 - 6:35)• “Be present to what's going on today in every conversation, with everyone you have. I don't have to be perfect. I might get a little triggered in different ways for different things, but just be aware.” (9:38 - 9:43)• “Something that I've done, that's been helpful as a habit… I've been having a scheduled time to think… For me, scheduling that time to literally ask myself and check in with myself has been really helpful. (11:04 - 11:39)• “What is the area for you that if you created a new habit on a weekly basis, it would create a lot more balance for yourself?” (12:07 - 12:14) Your Voice Matters. We appreciate your feedback and would like to hear from you. Click here to answer a few questions about our podcast: https://airtable.com/shr8fJS0a0uHedcza  The Real Estate InvestHER Membership Our Membership focuses on three pillars: Real Estate Investing, Business Strategies, and Self-Care. We provide a financial freedom road map for women to create steady recurring income to live life on their own terms. Start today with our FREE membership level. Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvestherYouTube: Watch our shows hereSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The A Game Podcast: Real Estate Investing For Entrepreneurs
Making Millions in Airbnb, Cryptocurrencies & Monetizing Social Media | Austin Rutherford

The A Game Podcast: Real Estate Investing For Entrepreneurs

Play Episode Listen Later Nov 15, 2021 63:08


Join Nick Lamagna on The A Game Podcast with guest real estate investor, cryptocurrency expert and social media sensation and founder of, "Elevate Life," Austin Rutherford!  Austin Is the author of, "From Valet To Millionaire," and is a powerhouse entrepreneur making millions and learning lifetimes of valuable lessons all before turning 30!  He discusses in this episode the benefits of adding buy and hold long and short term rentals to his real estate investing portfolio.  Along with finding ways to grow and monetize a massive social media following on such platforms as Instagram and TikTok he has also become a go to source for investing in cryptocurrencies such as bitcoin!  Austin shares tons of direct knowledge and answers you can implement right away in this episode on how to make smart decisions and reduce risk in real estate, cryptocurrency and strategy to grow and monetize your social media! Check the show notes to find all the ways to connect with Austin and make sure to contact Nick to start getting into some real estate deals together! Topics this episode include: ✅ Three things that can make you money in today's world ✅ Raising money if you have no experience ✅ How to setup payments with your contractor to not get screwed ✅ Should you be flipping or holding your properties? ✅ What is the #1 reasons investors go bankrupt ✅ How to analyze a property and market for a short term rental ✅ How to monetize your social media ✅ Why bitcoin and Cryptocurrency is an opportunity of a lifetime ✅ Comparing a real estate deal to a cryptocurrency trade Need to borrow money for Real Estate?  Email Morse@nationwidebcg.com and tell her The A Game Podcast sent you or look under affiliates by clicking here   --- Connect with Austin on: https://theaustinrutherford.com/ Austin Rutherford on Instagram Austin Rutherford on Facebook Austin Rutherford on LinkedIn Austin Rutherford on Twitter Austin Rutherford on Youtube Austin Rutherford on TikTok --- Connect with Nick Lamagna www.NickNickNick.com Click Here for all social media links and podcast options Free Checklist On How To Add Value To Your Buyers Like what you hear? Leave a rating & review by clicking here     

Millennial Investing - The Investor’s Podcast Network
REI096: Flipping & Wholesaling w/ Derrick Acuff

Millennial Investing - The Investor’s Podcast Network

Play Episode Listen Later Nov 15, 2021 54:49


IN THIS EPISODE, YOU'LL LEARN:1:36 - Why did Derrick make the transition into real estate full-time and what has it been like for him? 13:32 - What was his strategy when he first started in real estate, how has that evolved, and what is he working on now?16:03 - What wholesaling is and why you could start it without a lot of money. 31:17 - When closing deals, how can new investors get over their fear of being nervous? 38:56 - What are some of the real estate horror stories Derrick experienced and how he got through them?And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.EPISODE RESOURCESGet more FREE content from Robert.Get a FREE audiobook from Audible.Read the 9 Key Steps to Effective Personal Financial Management.Check out our Investing Starter Packs about business and finance.Learn about our Investing Starter Packs on real estate.Derrick Acuff's Youtube channel. Jeff Olson's book The Slight Edge.Robert Kiyosaki's book Rich Dad Poor Dad.Ryan Pineda's book Flip Your Future.Antoine Martel's book A Millennial's Guide to Investing in Cash Flowing Rental Properties.Alan Corey's book House FIRE.David Greene's book Buy, Rehab, Rent, Refinance, Repeat.Find great markets to invest in with Wiserei.Real estate education platform BiggerPockets.All of Robert's favorite books.Support our free podcast by supporting our sponsors.Save with a credit union that helps you build financial confidence with Navy Federal Credit Union.Make it simple to hire and manage remote employees across all 50 states with Justworks.Launch, build, and manage a profitable business on Amazon with Helium 10. Sign up now for a free account!You can get a complete home security system starting at just over $100. There are no long-term contracts or commitments. It's a really easy way to start feeling a bit more peace of mind. Get 50% off your next order at SimpliSafe.com/MillennialImpress your audience and yourself. Enjoy presentations for free with Canva.Transform how you drive business results and connect with customers with Snap AR.Read this episode's transcript and full show notes on our website.Connect with Derrick: Website | Instagram | TikTokConnect with Robert: Website | Twitter | Instagram See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Libertad Inmobiliaria
#22: Cómo comprar 3 pisos desde el extranjero [cocinero] — José

Libertad Inmobiliaria

Play Episode Listen Later Nov 15, 2021 46:37


En este episodio tengo a José y hablamos sobre su experiencia comprando 3 pisos desde el extranjero, concretamente Reino Unido, donde se fue José después de quedarse sin trabajo en la crisis de 2008. Allí era cocinero y a pesar de tener un sueldo bajo y de la distancia, se las arregló para comprar 3 pisos en su Sevilla natal. Hablamos sobre por qué José se enfoca en los inquilinos divorciados, por qué prefiere tener hipotecas de corto plazo, de entre 6 y 15 años o por qué compra pisos de nueva construcción.   La historia de José está llena de consejos, detalles y perlas que te recomiendo que escuches porque podemos aprender mucho de ella. Frase del invitadoMi mayor error fue depender de una sola fuente de ingresos. Ahí me di cuenta y empecé a invertir en pisos para tener ingresos y conseguir la seguridad financiera. Link del episodio: https://libertadinmobiliaria.es/episodio22/ Más info en: https://libertadinmobiliaria.es/

Cashflow Ninja
700: Doug Casey: Why Things Get Worse & How To Prepare

Cashflow Ninja

Play Episode Listen Later Nov 15, 2021 47:35


My returning guest for episode 700, is Doug Casey. Doug is a world-renowned speculator and libertarian philosopher that wrote the definitive book on profiting from periods of economic turmoil, Crisis Investing, a #1 New York Times bestseller. His books, Totally Incorrect (2012) and Right on the Money (2013), continue his mission of challenging statism and advocating liberty and free markets and his new project with John Hunt, the Highground Series Books that include Speculator, Druglord and the new release, Assasin, challenges thinking around morality, philosophy and much much more. "Adventure... intrigue... philosophy... politics... you'll find it all in this fast-paced novel from Doug Casey and John Hunt. Most importantly, you'll find thoughts -- the kind of thoughts that will make you think too." --Bill Bonner (Author of Empire of Debt and Mobs, Messiahs, and Markets) Doug has been a guest on hundreds of radio and TV shows, including David Letterman and Charlie Rose, and has been featured in publications such as Time, Forbes, People, and the Washington Post. Founder of Casey Research, he is a regular keynote speaker at FreedomFest, the world's largest gathering of libertarians and like-minded thinkers. He currently spends most of his time in Argentina and Uruguay, as well traveling to various dysfunctional hellholes. Interview Links: International Man Doug Casey On Odysee Grab My Book: The 21 Best Cashflow Niches™: www.cashflowninja.com/21niches Programs: The Cashflow Ninja Cashflow Investors Club™: www.cashflowninja.com/club Your Own Banking System™ : www.yourownbankingsystem.com Your Own Family Office™: www.cashflowninja.com/familyoffice The Crypto Investing Method™: www.cashflowninja.com/crypto The Cashflow Creator Formula™: www.cashflowninja.com/creator The Cashflow Core Builder™: www.casflowninja.com/core The Cashflow Multiplier™: www.cashflowninja.com/multiplier The Cashflow Quantum™: www.cashflowninja.com/quantum Connect With Us: Website: http://cashflowninja.com Podcast: http://cashflowinvestingsecrets.com Facebook: https://www.facebook.com/cashflowninja/ Twitter: https://twitter.com/mclaubscher Instagram: https://www.instagram.com/thecashflowninja/ Pinterest: https://www.pinterest.com/mclaubscher/cashflow-ninja/ Linkedin: https://www.linkedin.com/in/mclaubscher/ Youtube: http://www.youtube.com/c/Cashflowninja Bitchute: https://www.bitchute.com/channel/cashflowninja/ Rumble: https://rumble.com/c/c-329875 LBRY.tv: https://lbry.tv/@Cashflowninja:9?r=DoJHKKGqTbf8sdChMP1oLtCrJWEYK3ZM Brighteon: https://www.brighteon.com/channels/cashflowninja Brandnewtube: https://brandnewtube.com/@cashflowninja Parler: https://parler.com/profile/cashflowninja/ Gab: https://gab.ai/cashflowninja Minds: https://www.minds.com/cashflowninja Biggerpockets: https://www.biggerpockets.com/users/mclaubscher Medium: https://medium.com/@mclaubscher Substack: https://mclaubscher.substack.com/

BiggerPockets Money Podcast
249: The #1 Reason Side Hustles Fail to Become Businesses

BiggerPockets Money Podcast

Play Episode Listen Later Nov 15, 2021 53:05


You've heard the old statistic “nine out of ten businesses fail”, but why is that? If there are so many people willing to risk their livelihood to pursue a great idea, why do so many end up broke and back at a job? Gabe Nelson, certified financial planner and business advisor, has an idea. Gabe advises many business owners and solopreneurs through building their businesses with maximum cash flow and minimum time commitment.A couple of decades ago, Gabe was in the position many entrepreneurs are in today. He was working seven days a week, almost living at the office, doing anything he could to build his business. Once his daughter was born, he knew he had to take a step back from the seven-day workweek. Then, his second and third daughter were born, forcing him to automate, delegate, and eliminate every unnecessary task on his plate. Now, with a thriving firm, Gabe knows what does (and doesn't) work for solopreneurs, and the systems they need to implement now to secure a happy life tomorrow. In This Episode We CoverThe #1 thing you should do before you start a business or side hustle Keeping your relationships healthy while working long hours at your businessOutsourcing when you're ready and growing a self-operating team Laying the groundwork of communication between you and your partner Managing cash flow in your business and keeping a healthy safety reserveTrusting the “whispers” that your gut tells you about your businessAnd So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli
How to Leverage Digital Marketing to Establish You as an Authority with Krista Mashore

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli

Play Episode Listen Later Nov 12, 2021 44:04


Wouldn't it be amazing if when your customer avatar thought of the word “real estate” your name would be the first to pop in their mind? THAT is the power of digital marketing, and in this episode, you will get the strategies that will help you leverage it and set your business up to explode! So dive into this episode as we get real, raw, and authentic on how Krista is building her marketing channels and how you can establish authority through digital marketing. This is a powerful tool that can also be used by Real Estate agents when meeting sellers! And if you are an agent looking to join a powerful team that will support you growing your business as well as your investment portfolio, check out the InvestHER™ eXp Team Ready to join the fastest growing brokerage in the world while learning and collaborating with InvestHer agents from around the country?We have created exclusive content and support for the InvestHER™ eXp Team:*Top skills and strategies to grow YOUR business*How to utilize your “real estate agent” advantage to become a real estate investor*Monthly live masterminds*Become part of Libertas Organization with top coaches, Tim and Julie Harris. Jonna Hall Weber is leading our team. If you have any questions or are ready to join our team, click here to schedule a call with her.Quotes• “I sold 69 homes my first year in real estate and then I just kept on going up from there. I've averaged over 100 homes a year, every year since.” (6:14 - 6:24)• “My goal was to have the community know me. Anytime they thought about real estate or the community then my name would come to mind. So that's how it all got started.” (9:46 - 9:54)• “People want to do business, especially when they're under duress, with people that they know, like and trust. So the best way to develop a relationship is by utilizing video because the person on the other side of the screen is literally getting to know you.” (11:56 - 12:07)• “If we want a different result in our life, we need to be willing to put in the time and energy it takes.” (31:38 - 31:42)• “Figure out what your prize is, what you're really, really good at, what you love doing…. and just go all in and just make it work. Because as long as you don't ever stop it's already working.” (36:24 - 36:35)• “We always put people before things. If it's ever a question of: is it the money or the person? The person will always win, and so, therefore the money comes easily and frequently.” (40:07 - 40:17)Connect with Krista Mashore:Guest Website: Kristamashore.com/2daysliveIG: @kristamashoreFB: @kristamashoreTwitter: @kristamashoreYour Voice Matters. We appreciate your feedback and would like to hear from you. Click here to answer a few questions about our podcast: https://airtable.com/shr8fJS0a0uHedcza Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvestherYouTube: Watch our shows hereSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

BiggerPockets Money Podcast
248: Finance Friday: I Just Got a Big Raise, What Should I Do With the Money?

BiggerPockets Money Podcast

Play Episode Listen Later Nov 12, 2021 85:00


Your late 20s through early 30s can be a financially troubling part of life. You aren't making the most money you ever will, but you're tackling big expenses. A wedding, a down payment, and trying to max out retirement accounts can put you in a financial tizzy. But, it doesn't have to be so complicated, especially if you stick to a scalable investment strategy.Today's guest Louise is in this position. She recently changed employers and found herself with a big uptick in monthly income. She has plans on the horizon to marry her girlfriend but knows this will come at the cost of many thousands of dollars (rings, dresses, etc.) She's also looking at buying a primary residence, but is already familiar with the home buying experience (she has two rentals!) Louise has a plan to hit FI (or at least coast FI) by age 40 and wants to know the best way to optimize her finances to do so. Scott and Mindy have a healthy debate over 401ks, Roth IRAs, refinancing rental properties, and combining finances as partners, in order to get Louise in the best position possible to tackle her financial goals. In This Episode We CoverWhy switching jobs may be the ultimate hack to getting a better salary Whether you should max out your Roth, 401k, Roth 401k, or HSAGetting a cash-out-refinance instead of stockpiling cash Whether or not paying off a rental property mortgage is a good ideaRenting vs. buying when living in an expensive market Combining finances as a couple and having the ever-important “money date”And So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Remote Real Estate Investor
How Avery Carl builds long term wealth through short term rentals

The Remote Real Estate Investor

Play Episode Listen Later Nov 12, 2021 28:27


Avery Carl is a seasoned real estate investor and a co-founder of The Short Term Shop. Avery specializes in connecting investors with short term rentals with the highest ROI potential and then training them to manage their short term rental from their smart phone from anywhere in the world. In this episode, Avery tells us about short-term rental strategy, hot markets, returns, and what you should know about short-term rentals in contrast to long-term rentals.     https://theshorttermshop.com/  --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: What's up everyone? Welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by Avery Carl, distinguished author, speaker, investor, agent, mortgage broker, she does it all and she's going to be talking to us today about things you need to be aware of when looking for short term rentals. So let's get right into it.   Avery Carl, thank you so much for taking the time to hang out with me today. I really appreciate you coming on.   Avery: Thank you so much for having me.   Michael: No my pleasure. So I think a lot of our listeners probably already know who you are. You've got quite a bit of notoriety behind you. But for anyone who's not familiar, can you give us a 32nd elevator speech on who you are, where you're come from and what it is you're doing real estate?   Avery: Yes, yes. So my name is Avery Carl, I am the author of Short Term Rental Long Term Wealth of about investing in short term rental properties. I'm a real estate investor, I own 100 doors, but eight of them are short term rentals. And I was able to scale from zero to 100 doors over the course of about five years with a starting salary of $37,000 a year. Because I invested mostly in short terms at the beginning of my portfolio. So since those cash flows so much heavier than long term, I was able to scale much more quickly than if I'd started with traditional long terms.   I also own the Short Term Shop, which is a real estate agency that focuses exclusively on working with short term rental investors where not only do we act as the real estate agents to help them purchase their property. We also teach them everything they need to know about managing their property remotely. We help them get it all set up on the the listing sites and teach them the ropes of remote self management. We've helped about 4500 families, build some generational wealth through real estate investing there. And then I also, own co own The Mortgage Shop, which is basically the mortgage counterpart of the short term shop, we focus mostly on short term rental investors there as well.   Michael: Oh, that's awesome. So you were doing short term rentals before it was cool. It sounds like   Avery: Yeah, oh, just slightly before. Michael: That's awesome. And so what is it, you think that people need to know if they're just getting started in the short term rental business?   Avery: So I think the main thing to know is that it's you don't have to live in the city or even drivable to the city where you're investing, you can't always live in the best place to invest. So getting comfortable with long distance real estate investing, can make sure that you are able to make the most lucrative investment in short term rentals.   Michael: That makes total sense. And what a place to have you on The Remote Real Estate Investor. It's perfect. So how do you evaluate what a short term rental market looks like? Because doing the long term thing, I think is relatively easy. I can go on Zillow, I can go on property manager websites and see okay, what is the rent, the monthly rent versus what are my expenses ballpark? And what is the price? So what is it that you're looking for in a short term rental?   Avery: I'll start by saying there's not necessarily a black and white right or wrong way to do it. There's a certain way that I do it. But there are three types of markets that you can invest in short term rentals. The first one is the Metro market. So like Nashville, Austin, New York, places like that. The second is the big fly-to I call it fly-to vacation rental markets. So these are, these are the markets that people are like saving up all year to take a big vacation to like flying to Aspen flying to Hawaii, places like that.   Michael: Okay. Avery: And then the third type, which is the type that I focus on exclusively with myself and my clients, is the regional drivable vacation rental market. So these are areas that the majority of people that travel to them are traveling between five and eight hours by car like the Smoky Mountains in Tennessee, Panama City Beach, Florida, Big Bear in California, places like that, where people aren't necessarily taking these big, expensive vacations, they're really affordable, and they're really accessible. So that's the type of market that I focus on.   Michael: That makes sense. And I actually just bought my first vacation rental out in the Smokies. And I'm very excited to hear all the all the big news about it.   Avery: Awesome.   Michael: Yeah. So curious to know when I think one of the biggest hurdles or biggest risks that people see with short term rentals is changing jurisdictions, or jurisdictions changing their laws or ordinances. And so what's something that people can do to combat that or to be ahead of that curve when when looking at short term rental markets?   Avery: So choosing the market is really going to be your biggest the biggest thing to get through in terms of getting past that. So I used to have an office in Nashville where we sold short term rentals, I shut it down because Nashville is really really volatile in terms of short term rental regulations. So that's why I focus on the regional drivable vacation rental markets because they're typically areas like take the Smokies, for example. People have been coming to this monkey since the 60s and 70s and staying in cabins rather than hotels. Also, Destin, Florida where I live right now, I'm there where I'm actually reading a really nerdy book about the history of this area.   MIchael: Awesome.   Avery: And there were actually vacation rentals that people rented here in the 20s before they actually even had electricity out here. So these are areas I focus on areas that short term rentals are not a new thing. As of the inception, inception of Airbnb focused on areas that people have been staying in condos, beach houses, cabins in the mountains since well before Airbnb existed. So you run into the problems with the changing of jurisdictions and things like that. It mostly in Metro markets, it does happen in vacation markets as well. But it's mostly Metro markets or areas where people have historically stayed in hotels like Nashville, for example. There were not short term rentals or were not vacation rentals until Airbnb came along. Everybody who came to Nashville up until mid 2000 stayed in hotels, there's also a lot of primary residents because there's a lot of industry outside of tourism in Nashville. So there's a lot of jobs, there's a lot of primary residence.   So the, when, Airbnb came along, and investors started realizing how much money they can make in Metro markets. You know, obviously, a lot of investors moved in, started taking market share away from the hotels started making primary homeowners angry because they're moving into what was previously a quiet neighborhood where people are trying to raise their kids opening up Airbnbs, Nashville is like, you know, the bachelorette party capital of the world, you can see why you might not want that happening next door to where you're trying to raise your kids.   So it's the hotel presence and primary owners, primary residents that kind of come together to make anti short term rental regulations happen so that we stick to those markets where the cities and counties figured this out a long time ago figured out how to monetize it a long time ago. This is the way that it's always been. And the cities and counties are just way too dependent on the income from short term rentals financially to ever really regulate against them.   Michael: That makes so much sense. I love it. So, so something that I like a personal take that I've had on short term rentals is I've always said, Well, I'll invest in a short term rental if it also makes sense as a long term rental because I'm scared of the ordinance or law changing, but it sounds like for you because you've really done your homework. That's not a concern that you have. Is that fair to say?   Avery: Yeah, yeah. So and that's kind of, you know, a pro and a con of vacation markets versus Metro markets as Metro markets, you could convert to a long term, probably if the numbers make sense. But in like in the Smokies or in Destin, or any of our other markets that we that we operate in, there are more short term rentals. And there are people who actually live in those areas, because it's so heavily dependent on tourism, that if something came along and like wiped out all the short term rentals, you probably would not be able to convert to a long term just because there there's not enough people to meet that.   But again, that's these areas have been through decades and decades of economic ups and downs. So they're still tourists coming and they're coming heavy. So, you know, we, we feel pretty confident about it. And then if there was anything that was going to come along and sweep away all the short term rentals, it would have been a global pandemic. And it actually had the opposite effect. So I think we're pretty good. We're feeling pretty good about it.   Michael: Awesome. And you took the words right out of my mouth, I was gonna ask how was it for you? Because you've been involved in this over five years. So through through the pandemic, what did you see in your short term rentals during that time?   Avery: Sure. So short term rentals still, as of 2020, being a little bit of an of a new asset class, when COVID came along. And we had at the time that we had five short term rentals and maybe like 20 or 30 long terms, when COVID happened, we thought, Oh, crap, they're the short term. They're the apartment building investors were right. This is like an early adopter crowd. Right? Great. Well, at least we have our long terms because if somehow if this kills the short terms, we at least have long term. Well, actually, it was the opposite.   So you know, we sat on the couch and watch Tiger King for two weeks and open back then the doors got blown off. We we were getting higher prices per night than we've ever seen. We still are. All of our income has increased in all the markets we invest in across the board, but actually the opposite of what we thought was gonna happen. happen, so we didn't have to worry about the short terms. They're doing great better than they ever have. But we had to worry about our long terms because of the eviction moratorium. So, luckily, we only had one eviction and that person was a problem well before COVID. So we actually came out our entire portfolio came out just fine. Really no change on the long term front, but the short term is just skyrocketed.   Michael: I'm glad to hear it. I had a similar experience with the long terms and I was so thankful for it. So NACA continues. So Avery I'm curious and let me know if it's market dependent. And we can talk kind of market specifics, but I'm curious to know what type of property condo townhome apartment single family cabin do you target for your short term rentals?   Avery: I personally do only single families. Condos work really, really well in beach markets. Nothing wrong with condos. I just prefer single families. Condos don't work so well. In mountain markets. Typically, the tourists and mountain markets are more interested in staying in cabins. I don't I know a lot of people are kind of trying to get into the multifamily short term rental thing to me that's like, that's a hotel guys that's been already done. Like they're like, Oh, we're gonna do multifamily short term rentals. Nobody's ever done this before.   Michael: I'm a genius. Yeah.   Avery: So we stick to this to single families, we have Multis for it in our long term portfolio that we stick to single families mostly.   Michael: Okay, awesome. And so here's like a massive dichotomy between the long term in the short term market, in the long term, there's a price point for single family, which that's not going to cash flow, because you're rents just not going to keep up versus your long, you seem your short term. Does that occur? I mean, is there a spread at which Yeah, I'm just paying too much money for the purchase, that the rental income is not going to support it? Or does that not exist?   Avery: Yeah, sure, there's definitely a limit. But the thing about short terms is like it's, they're more difficult to analyze, because it's always a range of what a property will be able to do. Whereas in long term, it's like, this is the rent, this is going to be the rent all year. And unless you go in and get the property and do all this updates, that's what it's going to be we're short term, that's always kind of a range, because you know, a week, in the second week of February, you're gonna be making way less money than the second week of July. So it just kind of depends.   And then also, there's a range of the income that can make really just based on how you manage the property. So I mean, for example, even if two people own the exact same property right next door to each other long term rentals, they're making the same no matter what short term, even if they manage everything exactly the same. But one person has a two night minimum night stay, and the other person has a five night minimum night stay, the two night minimum night stay person is gonna make more money because they have less poles in their calendar that 1-2-3 and four days long. So even just little tweaks like that can make a difference. Although there there does come a point that like a two bedroom, the most a two bedroom is ever going to make is here. And if the purchase price is here, then it doesn't make sense. So you just have to get a lot of different data points for your analysis.   Michael: Yeah, makes total sense. And so to that end, how do you recommend folks evaluate the properties of potential income from an expense perspective? Because that's something I've seen is massively different than your long term as well. So what do you recommend to folks?   Avery: So I recommend there's a there's several different places you can get data for what for the short term rental performance air DNA is one of them, it's not perfect, it's decent, good enough. Rabbu is another one, Rabbu has some pretty good data. Price Labs, which is actually a pricing manager that you would buy, when you buy a short term rental, you get a subscription to this to help you price your property, it has a function called the market dashboards, which will give you a pretty good data on properties in that market. So I recommend getting data from two or three different sources.   And then as far as expenses and things like that. So in conjunction with looking at the number, numerical data, and the short term shop we read, we preach something called the enemy method, which is where you go in on Airbnb and VRBO. Zoom in on the neighborhood that you're interested in buying in and look at your enemies or your neighbors enemies just kind of tongue in cheek. But then there's a few things you're looking for when you do the enemy method. So a there there are things that the numbers in the data can't tell you like the intangible reasons that the properties are performing the way that they are.   So you're going in, you're looking for outliers, like you know, if you've got a four bedroom that you're looking at, and next door is like a four bedroom dump with terrible pictures, and the host never responds. So it's like way, way, way down on the search results and never get seen. Well that's going to drag the data down, you're going to be able to do better than that one obviously.   Or conversely, if next door is another four bedroom that is just like the craziest four bedroom anybody's ever seen. And it's like celebrities rolling in and out in there and you're like making they're charging a million bucks a night to get to meet these celebrities at your house. Well that's gonna drag the data the other direction. So you're looking for that you're also looking for what you your enemy's cleaning fees are because that's gonna be a big one for you.   And then the rest of it is very similar to as if you were purchasing the house for a primary home like in terms of internet costs, utility costs, things like that, I found that my maintenance costs in short term are less than in my long term rentals, they're more like 1% of my income. Just because you have a cleaner in there who's professionally cleaning two, sometimes three times a week, so nothing ever really falls into that much disrepair if your cleaner is doing their job and you know, letting you know, stuffs happening. Whereas my long terms, you know, they're doing God knows what in there all year, maybe two years, maybe three years, however long they say. And when they when they move out. i   Michael: That's when you find out about it.   Avery: Yeah, paint carpet cabinets, the whole thing.   Michael: Yeah. Okay, that makes a ton of sense. I want to shift gears a little bit here and talk about a topic that's very near and dear to my heart, which is insurance. And so how do you insure these things? Because it's this kind of unique thing that I feel like a lot of insurance companies really haven't wrap their heads around yet.   Avery: Yeah, so you definitely want to get short term rentals, specific Insurance Proper is the biggest name in that space. They're also the most expensive, but they do have pretty comprehensive coverage, like all the way down to covering loss income, if you get bedbugs. Um, some insurance companies are kind of catching on and adding short term rental riders that you can add on. You also want to or I recommend any way of getting a commercial umbrella policy, in addition to short term rental specific, just to make sure that you're totally covered. And I get this question a lot because Airbnb and VRBO do offer a million dollars worth of liability coverage, when you sign up with them. And a lot of people are like, do I need insurance? In addition to that, yes, 100,000% Do not rely only on what Airbnb and VRBO provide, because their goal is to not have to pay bat. So better to be over insured than under. So definitely make sure that you're getting STR specific and a commercial umbrella.   Michael: Okay. And so kind of in that vein, if someone's owning the short term rentals in their personal name, do you think an umbrella a commercial umbrella is still appropriate? Or could they just add it on to their maybe existing Personal Umbrella?   Avery: You could it just kind of depends on your entire financial picture. And really just kind of a number of things. So it's hard to answer. But I would recommend just everything you can get get it no better to have it and not need it than need it and not have it.   Michael: No, I'm right there with you. And it's one of those things like you're only gonna know how much you really needed after a loss or after a claim. And by then it's a little bit too late. So I'm with you. 100%. All right.   And then. So shifting gears here again, how do you purchase these things, and it's so perfect that you you own the mortgage shop. And so, because there are short term lenders out there, but I feel like they're kind of few and far between and if you start talking with your traditional lenders about I'm doing short term rentals, like I don't know, so what are some things that people should be looking for? And what are some products that the mortgage shop offers that people might be able to take advantage of.   Avery: So we have three main products that most people use, a lot of people use that 10% down vacation home loan, that's a conventional product, there are rules that you want to make sure that you are following in regards to doing that meaning you do have to use the property for I think it's about two weeks a year. You are there's nothing nothing out there prohibiting you from renting it on Airbnb and VRBO the rest of the year when you're not using it, but you you know, what you don't want to be doing is skirting the rules and like you know, trying to like syndicate with a bunch of people using 10% downs and like taking equity there and all that don't skirt the rules because you're going to get the product taken away from all of us.   Michael: Don't ruin it for everyone.   Avery: Yeah, if any has caught on to people abusing that for buying like I saw somebody in a Facebook group the other day that was like yeah, that second home loans awesome. I've got two on the same street as me that are both second homes and like that, there's none like they totally like lied, they had to have lied to their loan officer to even get that because one of the main things is it has to be there's not a specific mileage amount that it has to be away from your primary, but a lot of lenders use like 50 miles or 65 miles because it has to make sense you're clearly not vacationing and you so that part that's the kind of thing that will get it taken away from from everyone but if you want to buy a vacation home that you're gonna use for two weeks out of the year and rent it the rest of the year, you can totally do that for 10% down so a lot of people do that.   We also have a 15% down investment mortgage, let me sorry, investment mortgage investment loan that is also conventional. So if you just want to use this is a pure investment 15% down you don't have to worry about all the second home rules you can just do it that goes up to the jumbo limit which I think is like a 725 ish or 750 purchase price on Have a look. And then the biggest one that people have been using lately, is what's called a DSCR loan. So that's a debt service coverage ratio loan, it's kind of a mix between a portfolio and a commercial loan. So it's not conventional. So the interest rates going to be a little bit higher, it is 20% down, but you can close it right in your LLC, it doesn't take into account any of your income or debt or debt to income ratio, all that it counts on to qualify is will the property make the same amount as what the mortgage payment will be on a one to one ratio.   So if the mortgage payment is 2000 bucks a month, all we need to see is that the property will make 2000 bucks a month in income, and then you qualify. So that's a really, really great one, especially for people who maybe have switched from w two income to 1099 income. And they don't have two years to show yet. Or maybe you're out of conventional lows, because you can only have 10. Or maybe you have the downpayment, but your debt to income is a little wonky. So a lot of people are using that DSCR loan just because you can drop it right in your LLC, you can have unlimited finance properties, and it's just a lot easier to deal with and not having to qualify based on your own income.   Michael: Yeah, that's amazing. And so when you say a one to one ratio for the mortgage payment, are you talking principal interest, taxes and insurance as your mortgage payment are truly just principal and interest?   Avery: Principal interest taxes in an insurance? So, um, the way that it works? Like I mean, you wouldn't be buying a property that wouldn't make at the very least, that each month,   Michael: I should hope not,   Avery: Because it's not a good investment. So I've actually had never seen one not go through unless you're buying a really weird remote area where no one has ever short term or long term rented before, then that would be probably a gray area, but in the big vacation markets and Metro markets and things like that. I've never seen one not, you know, not go through.   Michael: Awesome. What a cool product. That's great. And Avery, I'm curious to know, from your experience, where do you most new short term investors go wrong? Where do you where do you seeing them then botch themselves?   Avery: Analysis paralysis, just like anything just like any asset class, all real estate investing? The number one thing that stops people from getting started is analysis, paralysis, and short term is no different.   Michael: Oh, that's great. That's great. And so I'm just curious to know, as well, you mentioned some of the markets that you're currently investing in, and you've got investors and both personal properties. Where is the new hot place.   Avery: Um, so our newest market that we've opened an office in that I'm really excited about, probably the next place that I'm going to buy a short term rental, probably next year is the Crystal Beach, Texas market. It's right, right next door to Galveston, and the returns there are actually higher than the Smokies, which up until now has been our highest return market. It's also one of the most expensive markets, you know, in the Smokies, it's going to be a million dollars for a five bedroom maybe a little bit more. And to get a beach front or like second to your back beach property, you can get a five bedroom like a nice, pretty new five bedroom new construction for like the 700 range.   Michael: Wow.   Avery: So and make almost the same income as the Smokies. So don't quote me on that it's a case by case basis, obviously. But across the board the returns, they're really, really exciting.   Michael: Oh, that's amazing. And when you say returns are high, what are we talking in terms of percentage cash on cash?   Avery: So it depends on what kind of loan you do. Because obviously, if you do a 10%, down vacation how long your cash on cash can be twice the amount of what it would be, if it's 20%. But I mean, you're looking at 30%, like without issue. So depending it depends on what kind of loan you get. But even with a 20% down, like you're looking at some at least 20% cash on cash. So really, really good.   Michael: Oh, that's an that's amazing. That's amazing. So I'm curious to know, too, and I don't want you to give away the secret sauce that that's included in the book, but what are some things that people should be aware of with regard to professional management versus self management.   Avery: So this is something that I I talk about a lot so and and this is not an across the board thing. I 100,000% have managers for my long term. So it's a different game, we're talking about short terms, exclusively here. So um, if you are someone who is trying to use the income from short term rentals to really Bootstrap and boost that income and buy more properties faster, a traditional style property management company is probably not going to be the partner to help you get there.   Managing one short term rental is really only going to take you about 30 minutes per week. And it's not going to be all at once. It's going to be like I'm responding to a notification here responding to notification there. It's really like answering a few text messages a week. You might have to pick up the phone and call a plumber sometimes but it's really not anything, it's not any significant amount of work.   I have eight. And so to give you some perspective, so the traditional Property Management split and short term rental is average 25%. It was actually 40% When I started, but a lot of self managers and stuff have kind of brought, you know, people have had to lower their rates to stay competitive. But even if I had had a 25% manager this year, my properties are on track to hit an $800,000 Gross this year. So if I paid somebody 20% 25% of that, that's $200,000. This year that's like upper management level salary, to do something that I can do straight from my phone, like, is it work? Yes, but it's very easy work considering the $200,000 that I would be paying someone else to do that for me.   So when you look at it that way, it really makes a lot of sense. Once you get to probably about 10 properties, you might want to hire a virtual assistant to kind of help with things. But the way technology is now with channel managers and pricing managers, almost everything is automated, a lot of the things that were not automated when we started are now automated. So there's really no reason why I mean, really, anyone can self manage if they want to.   Michael: That's incredible. Nicely done. Nicely done. Avery, before I let you go here, I want to talk about your book, short term rental long term wealth, what should people expect to find in it when they pick it up?   Avery: So you will find the first half of the book is about how to choose a market, how to analyze a property, how to find the team in that market to help you so agent, mortgage broker, all those people. And then the second half of the book is actually about how to self manage remotely so that you can keep at potentially $200,000 a year to get yourself started so that you can then grow your wealth through short term rental investing.   Michael: Amazing. And people can pick that up on BiggerPockets calm as well as amazon.com.   Avery: Yes, so right now it's on bigger pockets, calm slash STR book, and you can pre order it on Amazon, it will ship November 14. It is also available on Audible right now.   Michael: Amazing. And if people want to take advantage of the short term rental shop, or the mortgage shop, what's the best way for them to get a hold of you and your companies.   Avery: So you want to go to the shorttermshop.com There's a little box in the middle of the page that says schedule a consultation, hit that button. That's the best way to get started with us. And then for the mortgage shop you want to go to www.mortgageshop.co   Michael: Amazing. Every This has been so much fun. So eye opening any final thoughts for folks before I let you out of here?   Avery: I think we've pretty much covered it. Thank you so much for having me.   Michael: Awesome. Well take care and we'll talk soon I'm sure. Thank you alrighty everybody, that was our episode a big big big, big big thank you to Avery This was so much fun. I learned a ton. If you're interested in short term rentals, I definitely recommend picking up Avery's book as well as going back to this episode and giving it another listen. As always, thank you so much for listening, watching, and we look forward to seeing the next one. Happy investing

We Build Great Apartment Communities
061: Starving Artist Turned Millionaire Real Estate Investor with Mark Hentemann

We Build Great Apartment Communities

Play Episode Listen Later Nov 11, 2021 44:15


Let's cut to the chase - So can one still do the things that he love while still being involved in real estate investment? Well the answer is a resounding Y-E-S! And Mark Hentemann who John Brackett sits down with today is the concrete proof! Mark is an Emmy Award nominated writer/producer who has written for David Letterman, Family Guy, and created shows for Fox and MTV. He has been investing in multifamily since 2000, building a personal portfolio of 14 Los Angeles apartment buildings. After honing his skills for a decade, achieving success in both good markets and bad, Mark started Quantum Capital RE, and is its principal. Get comfy, and grab some pen and paper and listen as Mark talks about his success in real estate investing while still doing the very thing that he is in love with - writing. Episode Highlights: Mark's journey from being a TV show writer to a real estate investor Why choose to invest in real estate Criteria in finding a great investment property How do real estate investment strategies change based on demographics Mark talks about barriers that an investor can encounter when buying and scaling up Cancelling contracts that are already put in place Mark's advice to those interested in the world of real estate investment Golden Nugget: Wall Street has the best marketing but worst return while real estate has the worst marketing but best return Connect: Email  LinkedIn  Quantum Capital Website  About Our Guest: Mark Hentemann is an Emmy-nominated writer/producer and an original writer on “Family Guy”. He's also a built a $90 million multifamily portfolio in Los Angeles and Texas. After struggling as a starving artist, Mark used his first script payments in 2000 to buy a duplex in Los Angeles as a hedge against the uncertainties of an entertainment career. Real estate became a passionate side-hustle, and Mark founded Quantum Capital, which invests in and syndicates value-add multifamily properties in major cities. He also hosts the Wild West Real Estate Podcast. Mark also continues to write, produce and do voices on Family Guy. He's created shows for Fox and MTV, written for David Letterman, worked on the “Ted” movies and is currently writing a reboot of “The Naked Gun”. He's been a guest on Bigger Pockets, Joe Fairless, Michael Blank, Jake & Gino podcasts, as well as many others. Mark's mission is to help people achieve financial freedom through real estate so they don't have to become television writers. --- Did you enjoy today's episode? Please click here to leave a review for The We Build Great Apartment Communities. Be sure to subscribe on your favorite podcast app to get notified when a new episode comes out! Do you know someone who might enjoy this episode? Share this episode to inspire and empower! Connect with John Brackett and We Build Great Apartment Communities Instagram @webuildgreatcommunities Facebook @buildingreatcommunities LinkedIn @brackettjohn Website www.fidelitybps.com Subscribe to The We Build Great Apartment Communities Apple Podcasts Spotify Google Podcasts Do you think you would be a great fit for the show? Apply to be a guest by clicking . Fidelity Business Partners, Inc. 6965 El Camino Real Suite 105-190 Carlsbad, CA 92009 D: 760-301-5311 F: 760-987-6065

Working Capital The Real Estate Podcast
Retire Early with Real Estate with Coach Carson | EP78

Working Capital The Real Estate Podcast

Play Episode Listen Later Nov 10, 2021 50:14


Chad Carson is an Entrepreneur, Writer, and Teacher, who Co Owns over 100 Units of Rental Property and Private Lending In and Around the College Town of Clemson, South Carolina. He wrote an Amazon Bestselling book “Retire Early With Real Estate”, and his story has been featured on Forbes, Yahoo Finance and more. Chad, His Wife, and Two Kids Recently Returned from 17 months Living Abroad in Cuenca, Ecuador. Each Week Chad Shares Tips, Strategies and Stories on His Popular Blog Podcast on Youtube Chanel CoachCarson.com In this episode we talked about:  • Chad's Bio & Background  • Flipping Houses  • Ups and Downs of Students Rental Space  • De-Risking Real Estate Deals  • Valuation Metrics of Single-Family Rentals VS Student Rentals  • Raising Capital in College Towns  • Chad's Plan for Tomorrow  • House Hacking  • The process of Writing the“Retire Early With Real Estate” Book  • Chad's Thoughts and Views on Interest Rates and Inflation  • Unlevered Yield  • Coaching and Blogging on Youtube Channel  • Mentorship, Resources and Lessons Learned   Useful links: https://www.coachcarson.com https://www.instagram.com/coachcarson1/ Transcriptions: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right, ladies and gentlemen, my name is Jesper gala and you're listening to working capital the real estate podcast. My guest today is Chad Carson, AKA coach Carson.   Chad Carson is the author of the bigger pockets book retire early with real estate. And he is an entrepreneur writer and teach and teacher who cones over a hundred units of rental property in Clemson, South Carolina, Chad used real estate investing to reach financial independence before the age of 37. When he, his wife and two kids decided to spend 17 months living in Ecuador in south America each week. Chad shares tips, strategies and stories on his popular blog podcast and YouTube channel coach Carson, coach Carson. How's it going?   It's great,   Chad (1m 2s): Jesse. Good to see you. Good to see you again. And we were on a panel not too long ago, so nice to connect.   Jesse (1m 7s): Yeah, absolutely. Yes. We were in new Orleans on the a at BP con, which was a lot of fun. I've talked about it on the show. It was nice to get out there since the last one in Nashville, which I guess was two years before that. Right?   Chad (1m 20s): Exactly. Yeah. It's like the rockstars of real estate. You get to hang out with people and talk about the market. Talk about all deal making. It's a lot of fun.   Jesse (1m 30s): Yeah, absolutely. And you know what I did forget to mention you are also a, a alumni of Clemson football. So go tigers.   Chad (1m 38s): Yeah, exactly. We're not doing so hot this year, but for the, any of the college football fans, Clemson's usually up there, but this year we're a little, a little soft.   Jesse (1m 46s): And if I remember correctly, you're you played linebacker back in the day there   Chad (1m 50s): I did. Yeah, that was my that's how I paid for my school. So luckily I didn't have it as far as I know, no permanent damage, you know, concussions, things like that, but yeah, it was middle linebacker. I was about 40 pounds bigger and had a, had a lot of fun doing that at the, at that time   Jesse (2m 5s): Weight loss period that that happens after the, the college football day.   Chad (2m 9s): It either it either goes one or two directions. I lost, I lost my four day in that like all the little small guys now on the team are like enormous. So they found all the weight that I lost.   Jesse (2m 18s): Sorry, the secondary maybe gained some weight and then you get the lineman that, that cut it   Chad (2m 23s): Down. Yeah, exactly. Right   Jesse (2m 25s): On. Well, thanks again for coming on. I thought it would be great to have you on the show since that panel, that we were on a lot of the questions that we got seem to be still topical today, before we kind of dive into, you know, what's currently going on with real estate and what you're doing for listeners, maybe you can give a little bit of a background about how you got into real estate and what you've been up to since, since that's first started.   Chad (2m 49s): Sure. Yeah. So when I graduated from college, so at Clemson university, I thought I was going to go to play football and NFL, and that was a dream that quickly got shattered. And then I also was a biology major college. So I was considering going into medical school, kind of that direction. Also had some job offers in the financial world, you know, working like on wall street, that kind of thing. But I was really always really interested in the lifestyle of a real estate entrepreneur and particularly a small real estate entrepreneur who sort of controls your own destiny and works out of the house and keeps overhead small.   And so a business partner and I started flipping houses pretty soon after I graduated from college and we scraped by and figured out ways to come up with capital to buy primarily single family houses, fix them up, flip them. And then over time that worked out pretty well and we were able to make a living. And we, I think that was 2003 when we started by 2006 and seven, we also started buying some rental properties as well. And in particular, we got into the niche of college student rental properties eventually in Clemson, South Carolina.   So we're in a college town. So that just seemed to be the best fit for finding a good balance of cashflow and growth and good longterm stability and wealth building was with those kind of small multiunit properties, duplexes, fourplexes with a 12 Plex. We have some kind of aggregated land that we have with multiple apartment units on it as well. But that's where we are now. Today is a, we have 110 units. Most of those I'd say 60% are those college student rentals, but also have a mix of single family houses, mobile homes, things like that.   Jesse (4m 23s): Yeah, that makes sense. And in terms of the, the first ones that you got into, not, I guess dissimilar from a lot of people that get into our, our space coming at the kind of value add flipping, was that something that at that time you thought might be the direction that you'd go to, to do flipping or, or was it, you know, it's a little too hands-on and maybe passive or somewhat passive is the better, better.   Chad (4m 46s): Yeah, I mean, I looked at it as is, it's a great way to add value and that, particularly for me, I didn't have any capital upfront. So I just, I don't know where I heard it, but I just learned that if you can find a good deal and in any market, then the capital is out there. There's there's and I think that's more true today than, than ever that we are flooded with capital. I mean, there's people who are looking for deals, there's money, that's looking for deals, but if you're that small entrepreneur or big entrepreneur who can go out and find a lot of real opportunities that have either equity that you can add value to today, or you can find good longterm cashflow in long and growing, growing markets or markets are good opportunities.   I just found that skillset that I learned early on was so valuable for all sorts of things and it put food on the table to start off. But over time I found that acquiring equity that I could work one time, do all the work upfront and then have that paid dividends for a really long time. That was just very enticing to have that because it fit into the lifestyle goals that I had, not just, I love working, I love projects, but real estate to me, the power of it is how it starts in the beginning as a startup. You had put a lot of work in, but it becomes a relatively passive investment that gives you a lot of lifestyle freedom and the end.   Jesse (6m 0s): And at that time, I mean, getting into student rentals, was that the approach initially, or was it just that that's where you were finding   Chad (6m 8s): It was not my approach originally. It was mainly to single family houses and typical suburban kind of subdivisions is where we found a lot of our early deals. And I still like those single family house deals for what they are as well. But I actually did a house hack where I lived in one unit and rented out the other, my first introduction to college student rentals. And it was just where I wanted to live. It was near the college town. It was near just the place I wanted to be. And I found that I just, I think I started from that getting to know the, the tenants themselves.   So I live next door to a wonderful Chinese couple who are getting their PhD in some kind of health, health initiative, or I'm sorry, healthcare or biotech, I think it was. And then another, you know, had like an international flavor, had China and the other guy and his wife from South Africa and another one from another, you know, another country. And I just thought it really interesting, the people I was meeting and I thought they were really good tenants. And so it just that sort of just landing into my lap, having to find somewhere to live in a house act is a great way to pay for your living expenses.   But after that, I said, there's gotta be more opportunities to buy more properties like this. And so we started picking up after you every year from there.   Jesse (7m 21s): And in terms of the, the student rental angle, like I think we, we chatted a little bit in new Orleans that, that very similar, how I got started in real estate was, was in the student rental space. And, you know, you hear everything when you're investing in student rentals from, you know, it's, it's a complete nightmare. You're dealing with tenants, but maybe you can talk to listeners a bit about how that's a, it's pretty misleading. And, and if anything, it's, it's really, from a risk standpoint, I look at it at completely the other way around what most people will tell you.   Chad (7m 50s): Yeah. It's like real estate in general. Some people run away from it because they heard that there's going to be tenants and toilets and people having leaks. And that's going to be such a big deal. Well, the same with student rentals, they hear that people have, you know, big parties and through kegs through windows, which I'm sure happens somewhere. Right. And in fact, I've probably been at some of those parties when I was in college, but, but it's not, it's not the, the, you know, it doesn't have to be that way. So a lot of there are a lot of good students, students who are renting their place and to take responsibility and you also have the, the parents are often helping pay, pay their way.   That's just the reality of it. And so if you do that, you can, I, I have very little credit risk with my student rentals. We have almost always had payments on time. I can think of two situations. And now 18 years of investing a little bit less than that with student rentals, where I've had a credit issue on a student rental and the rest of the time, the rent's paid things. Thanks for taking care of. They have a security deposit. There are some damage issues here and there just like you would with any tenant. But I saw, I think the positive of student rentals as they be find the right university, the right town, the right place with the right dynamics, you're going to consistently get your rent.   That's great. And the negative, I would say the drawback of it is it's a more higher high turnover type business. So you do have that maintenance, you know, maintenance turnover, and your, I found my maintenance cost to be higher than maybe some people would anticipate early on just because you're having to paint. You're having to clean up. You're having to do these things pretty often. And, but the flip side of that again, is that we are leasing period starts for student rentals. And now December before they, before August of the next year.   Yeah. So here we are, actually, we're our property manager just talked to another day. They're starting right now, here we are beginning of November. So it gets earlier and earlier where know, at least in our market, students are trying to lock down their rentals pretty early. And so that's what we found is we can, pre-lease all of our, our rentals, very rarely do we have something that's vacant. Hmm. Okay. So we do have a vacancy period about 10 to 14 days when we're fixing up the property and doing the turnover. But that's like, there is no sitting there for, for one or two months waiting on finding a tenant there's pre-leasing, you know, turnover period.   And then it's leased for 12 months. Yeah.   Jesse (10m 8s): And I find in most markets, I'm not sure if, if for yourself, is that nine times out of 10, the occupancy is really only three quarters of the year. Some of them do, at least my experience has been, some of them do stay in the summer, but we typically see 12 month, 12 month leases paying rent for 12 months, but really occupancy either.   Chad (10m 27s): That's exactly right. Yeah. And it's a pretty strong landlord market for us in our markets, even, you know, so we've been able to always negotiate that we don't do nine months leases or have to do subleases, but they, most of the people are gone or the summer, or maybe come for a few weekends here and there, but that's, that's the case for us as well. I'm curious,   Jesse (10m 45s): Do you, de-risk further with having the least document several or in other words, if one person doesn't pay rent that the others have to come up with that rent, is that how you structure your,   Chad (10m 58s): We do structure ours that way. Yeah. There's, there's other big operations in town who have like least by the bedroom type arrangements. We've always chosen not to do that. And we had explained that early on with a couple of students who, Hey, my roommate is not paying the rent. That's not my deal. I said, well, actually it is your deal. That's your, you look at, look at this like a partnership, you know, this is a marriage without the, all the good stuff. Right. You know, you're, you're married to your, to your, your partners here. And so they would all have to pay the rent and figure it out among themselves.   And, and so, yes, it was very rarely happened, but that has been, that's come up. And so we, we do have that discussion with the lease with our private property managers to have that discussion. Now let them know that.   Jesse (11m 38s): Yeah. And it's great because you have a kind of a, I mean, you have a private, private solution or private market solution, but you also have kind of social norms that factor into that too, where, you know, one person, when they have four other friends living in a place where, you know, parents have the lease and somebody is not paying, you know, the pressure to make sure that you, you know, you're on time and you do things properly. It's probably like,   Chad (12m 1s): Yeah, they work it out. Yeah. There's the, yeah. You don't want to let down your roommates let down other people, so, or, or the handle it privately behind the scenes, you know, they, they work it out. Yeah.   Jesse (12m 10s): And on the other side of the other flip side of the fact that there's more turnover, I know in markets that have more rent control or more, more regulatory red tape, they actually liked those landlords. Like the fact that there's more turnover, because then you can actually reset rents without issue.   Chad (12m 29s): Yeah. That's been a big deal for the last six, seven years for it because the rents have gone up consistently every single year. And so rather than having to face that, how do I raise my rent on a good tenant kind of conversation, which is always tricky, right? You can now push it to market rent every single time. And the other benefit of that big lead time on your leasing period is that you can test out new rent levels without a whole lot of risk. And so if we push it too far and we can't find anybody, like we're getting zero leads at this new rent level, we can pull it back and say, okay, we're a little too aggressive here.   Let's pull it back to this. And I've always found with leasing, I don't do the leasing anymore, but I've, I've done tons of leasing over in the past. And it's a really good skill to have because you can see that you can see the sensitivity to price, to the marketing you're doing to whatever. And if you get the right price, market match, I mean, it's like a faucet. Like you turn on the faucet on the water and the leads start coming through. I've always found. And so I think it's good to have done that myself because when I'm having conversations with my people who are doing our leasing, I don't have a lot of excuses.   I might look, you know, it's either the property is not ready. It's either you're not promoting it well. Or the price is not right. It's one of those three, which one is it? And let's look, let's look at the metrics. Let's look at the numbers. How many leads are you getting? How many showings have you had? How many applications have you had? How many people are not renting is one of those, like we're having a problem. And one of those levels there   Jesse (13m 52s): And how has the last a year or two Chad, how has that impacted number one, your business, or, and as well, your, your outlook on, on the space that you're in and potentially maybe where, where you'd want to be?   Chad (14m 5s): Well, I mean, us personally, I was a little, I was scared during COVID, I'll be, I'll be, be honest about that. And the story, the story for me was where we, we are a big fish and a kind of a small pond or in a small town with a big university. We have a lot of our holdings in one place. And so as, as we've matured with our portfolio, looking to have some geographic diversification was always on our radar. And we've kind of been doing that both with, within real estate and also into equities and other things too. But it hit home with COVID because a lot of the COVID regulations, nobody really knew what was going to happen in March of 2020.   And when the university where we are at Clemson university decided to go all virtual. My first thought my concern was, well, why would anybody come back to school? Like if they're going to be, you know, going virtual, they can do that from their home, wherever they live. And so I'm, I'm thinking, okay, you know, how much cash I need to save? In case we have 12 months of like 30% occupancy or 50% occupancy, I'm started thinking about worst case scenarios. And we start figuring out how much is that going to cost us to do that and how much we have to lower our rents. So that, that didn't pan out.   It turns out most people came back and wanted to have their lease their, their, their apartments. Anyway, even though they were virtual, but it did imprint upon me, the fact that we have some vulnerability that we need just as a personal wealth building strategy, that diversification is really important. And that's, so this, this last year and a half or two COVID has been, that's been the message for us of de-risking our geographic exposure, but also just de-risking period. Like if we do have a situation like that, even if we're not geographically diversified, we we've made it to the place where we have enough, we have enough income, we have enough properties.   So de-leveraging paying off debt, doing some things that are not real sexy or not real recommended for people who are always growing, but actually doing the boring, paying off your debt. You know what happens if you have a great depression or your rents go down, I can deal with that. If you, even, if you had, if you had no debt and you read sweat crater by 50%, that would be painful. You'd have to tighten your belt, but you wouldn't lose your properties because you couldn't pay your debt. It would be a totally different situation.   Jesse (16m 13s): Yeah. And that's another thing we talked about on the panel. It's this idea, where's that balance of, of you don't want your, you know, to a certain extent, you don't want to have no debt because then, you know, your return on equity is not pretty, but at the same time, you don't want your loan to value or, or your debt to be so large that maybe you're cash flowing. But like you said, do you have a correction of 10% of the market, 15, 20, whatever it is. And then all of a sudden you are in negative territory.   Chad (16m 38s): Yeah. And I, I just, I look at people that are a lot smarter than me only look at Warren buffet and people who, who build their business to be resilient. He he's an insurance business. He has to be reinsurers all the big insurers out there. And so he has to be cognizant that he can't predict everything and I've got to save a lot of cash. There is some leverage in his portfolio, you know, he has float and I'm sure it's some kind of long-term debt, some of his holdings. But if you look at the total debt that a company like Berkshire, Hathaway, Hathaway, or other mature companies have, once they've achieved that maturity, they're not aggressively trying to like spring every single bit of return out of their portfolio.   They're more about not losing money, like not, not having habit. They want to survive for the next, for the long run. And I think there's a, there's some wisdom in that. I think we, we real estate investing is so debt heavy that we just assume that that's always the way things are done. And the people I know is just me personally, on the small level, who've really done well over the long run and who personally have a lot of peace of mind. And they're just not really worried about the ups and downs of the market are often the people with the most cash in the bank and the least debt. And so, I don't know, that's my, that's my personal correlation that I see out there.   Yeah.   Jesse (17m 47s): Yeah. I couldn't agree more with that. It just gives you, it gives you that little bit of buffer in terms of, of risk in general. Now, when it comes to, when it comes to student rental properties specifically, we've heard my partners and I actually more demand in the last little while I've had schools in our area, reach out to me and, you know, asking, are your listings still available because we don't, we just don't have the supply or is your market similar? Is, are you seeing that there's a bit of a supply challenge for student rentals?   It's,   Chad (18m 19s): It's been yes. For the most part has been that same scenario. We've, we've had some ups and downs because we're, we're in a pretty small market. So we have 24,000 students who go to Clemson university. There are 17,000 residents or the population of the city of Clumpson. So the university, and then the city, the city of 17,000. And then we have a couple little small towns, somebody we're very, it's a unique situation. We're very, we don't have a lot of other renters other than our students and our faculty. So when every time there's, there's been some supply excesses, when you have 2000 new units come out online at one, one year luxury student apartments.   So sometimes your upper end, your upper rent type stuff, we have a few, you know, more closer to campus, higher rent stuff. Those get affected big time. Whenever the new stuff comes on on the market, it's like throwing a big rock in a pond, you know, and we're in a small pond as everything gets kind of shaken up. So we had some vacancy issues for on a couple of properties, but for the most part that kind of stabilizes and the, the D the overall driver of that is the student population has been increasing at the university consistently, probably two or 3% per year. And the supply doesn't always keep up with that perfectly.   You know, sometimes it goes above it. Sometimes it goes below it, but in general, I think if you're in a college town, that's the, that's the metric you need to pay attention to is student population, and then whatever other population of faculty and those kinds of things go with that. And then if you're in a larger college town than we are, which I think is healthier, actually, if you're in like a a hundred thousand person college town, or a bigger city, you also have other industries that are related to the university high-tech industries, things like that. And I think that's an interesting mix because then you can cater to the two different segments of the market.   Not only be, you know, renting to students, you can kind of have some cross, cross marketing to different populations out there.   Jesse (20m 5s): Yeah. We've seen that in, in most of the areas that we had seen residents, it's been more so like 170,000, 200,000 population wise, and then, you know, 30, 40,000 on the student side. So yeah, it's funny that they, you know, in Clemson, it's pretty much a, you know, you double the double, the population there when school's in exactly, in terms of the way you value on that student, on the student rental front, do you typically do what we do and that it's not a per door metric, it's usually a per bed metric.   And how do you look at valuation when it's, you know, single family versus student Rez?   Chad (20m 42s): Yeah. We look at it per bedroom as well. And there's a little bit of a, you know, kind of a gray area when you get into some of the lower price rentals where, you know, there there's some, a few that we rent to student grad students, or maybe also some regular local, just kind of people who just need a rental, but when you're in the pure student rental, yeah. We look at it, whether it's, you know, it's a four bedroom apartment that that's, you know, that's pretty clear, or sometimes we have two bedrooms and one, we, we, the two bedroom apartment, we're always looking at it like on the per bedroom basis. And we also value it that way.   So we, you know, we'll, we'll work it backwards to try to get almost always to some kind of rental yield number, you know, a cap rate rental yield, or trying to understand what if we paid, no, we had no debt on this property. You know, what is the yield on the, on that? And that's, that's the first level of valuation that we'll do. And I I've always liked it speaking back of debt. Again, you know, you have a cost of capital, you have a cost of debt, both either your debt costs or an equity cost, if you're splitting the deal with other people. But to me, the main metric that you have is that, that rental yield like an unleveraged rental yield, because that's what you're using to distribute to the debt and to your partners and everybody else.   And so I just, I've always kind of used that as my, my true north. Not because that's the only way we're going to make money, but because that's what gets me through the ups and downs, that's what got us through 2000 7, 8, 9, because we were able to pay our bills and have some, have some cushion there. And so that's, we start with that. And that, that metric has not been as attractive the last couple of years, as it was earlier, you know, as interest rates have gone down rental yield, unleveraged, rental yields have gone down as well as the prices have gone up. So people are just willing to buy properties with lower rental yields, but that's also made it more important to find deals, to have more kind of hidden value add or hidden upsides.   So I found that really knowing my market street by street, knowing what the things that are most important to my students are, for example, being close to public transportation, being on the bus line, also walkability. And bikeability, I think that's, that's my biggest personal metric. Like when I live somewhere, I want to be close to bike trails and walking, and, and I, I feel like that is a generational thing where people go to college towns, they often have a walkability and bikeability, that's pretty good. Clemson's not so good. I've been trying to work on that on the side, trying to get that better, but I think they go there and then they go to other towns and like, Hey, I remember my college experience was so walkable and bikeable, they want to go find places as, as once they find their first apartments and houses that also have that.   And so I think that's a really important trend, you know, nationally with, with different, different markets that we're in. But I think that from a college town standpoint, if you can find the numbers are important and leveraged yield, but we're also trying to, if we're going to buy and hold for a long period of time, I want to find the places that are better than others in town, whether that's distance the campus along a bus line, along a bike lane, some kind of, you know, just a character in the market, big trees, nice, nice sidewalks, things like that that are harder to replicate when people build new construction.   But if you can buy that from an existing property that gives, that gives you some extra value.   Jesse (23m 48s): Yeah. I like the, the unleveraged yield approach, but, you know, it's kind of, here's, here's a net yield for a property and, and kind of getting, you know, taking out the debt first as an analysis, it makes a lot of sense in terms of the, the walkability I find interesting too is cause when you go to certain college towns, to your point of knowing the specific market is that some college towns, you know, their tolerance for, you know, a hundred more yards or 200 yards, it might be lower or higher than other universities. I know in our area, some universities, if it's, if it's a five minute more walk, all of a sudden, you know, that they rule that out or a specific property, they're like, no, we're not, we're not going on that side of the street.   Chad (24m 27s): All right. Yeah. You gotta, you gotta go block by block. Right. I mean, you just got to know that's where local market knowledge is so critical. Yeah,   Jesse (24m 33s): Absolutely. So in terms of, as you, as you kind of continued to, to get, you know, get more properties, you're now over a hundred units in terms of where you want to be next, when it comes to whether it's apartment building, student residence, what does that look like for you, Chad?   Chad (24m 50s): Yeah, we're sort of thinking of, you know, I'm not saying contrary contrarian, but my lifestyle has sort of dictated the way I'm going to build my business. And I have a healthy respect for like bigger businesses and people who build big, you know, big syndications, but that's, that's been like the opposite of what my business partner and I are trying to do. We sort of hit a level where we said, here's the fork in the road for us. We're either going to continue growing. And by other units, we could replicate what we've done here and doing it another college town or another city, and raise a lot of capital and do that. Or we could just say, all right, this is, this is as big as we want to get our business.   And we actually frame it as like a small and mighty business, like this, keep this thing deliberately small so that we can then have space to do other things. And for me, other things are teaching other people how to do it. And I have a podcast as well, traveling with my family, doing, you know, consulting here and there for other people doing a YouTube channel. So it's just, it's more of a personal choice. This isn't as much. So the personal choice has dictated that our real estate investing business is not going to get any bigger. And so going back to the de-risking conversation, that's another reason that we, we look at, you know, I looked at the cashflow, our business produces from the gross revenue.   And then after deducting all of our expenses, capital expense reserves, all of that. Here's how much income we needed. Here's how much we have and we're in. We're pretty good there. So the next step for us is do, is let's, let's make sure this foundation, this castle, that we've, we've built, can't be taken down and there's no guarantees in life, but some of the ways that could happen would be debt that's that's the main way I've seen people mess up their real estate careers in the past. So either stabilizing the debt, getting longer term debt, low interest rates, making sure that stabilize and making sure we have enough cash reserves.   And in some cases just paying the debt off, even with, even if that doesn't make sense from a growth standpoint, that's more of the ambition we're having of the next few years, what we might sell a property there that is not an ideal property. And in the past we would do a 10 31 exchange or something into another property. Some cases we're just paying the tax and paying, paying another set of debt off on that property. So that's, that's kind of where we are. That's our ambition. And then also just trying to help other people do the same thing on a kind of that small and mighty scale.   Jesse (27m 4s): I like that small mighty, but I mean, it makes sense too. It's, you know, when you're talking about it might not be as an attractive return, you know, if you're not doing a syndication or you don't have investors, it really is not as big of a deal. You're not, you don't have a fiduciary obligation to them. It sounds like up to now, you've, you've worked with partners or bootstrapped the, the financing side of it is that, is that pretty much how you've done it to date?   Chad (27m 27s): Yeah, we primarily have done private capital, but just very simple private capital. Like we had a, an professor of mine at Clemson when I first met him, one of our first deals, he would loan us the money. And I, he actually didn't realize that at the time I learned that you could do a self-directed retirement account where you, instead of just investing in stocks and bonds and things like that, there's these kind of boutique custodians who allow you to make loans to other people against real estate or buy a limited shares and syndications, for example. And so I showed him that he could do that and he was like, oh, that's interesting.   Well, what do you want me to do with it? And I said, well, how about you loan me money for this flip that I'm doing and I'll pay you 10% interest. And he said, that sounds good. Okay. And he said, you're going to do all the work. I said, yes, I'll do all the work is so it started off that way. And then we sort of branched out and eventually said, well, we don't want to flip it anymore. We just want to hold these properties. And so we can't pay 10% interest and make that work. So we started just paying 6% interest for most of our deals. And then we would extend the terms out, you know, instead of doing, you know, a one-year term, let's do a 15 year term and have it, have it go longer.   So that that's been a large majority of what we've done is private capital. Often through self-directed retirement accounts, we've done a lot of seller financing where a seller, instead of them selling their property and paying taxes on it, we'll offer to buy their property. And it's often landlords who are just trying to get out of the business and then we can get really attractive, low interest rates with them. And so it's been a mixture of that kind of capital with a little bit of commercial debt as well. And then, so, so when we, when it comes time to pay stuff off though, it's, it's just the person who has a bond, a debt, you know, instead of it, these are me and my business partner are the only equity partners.   We don't have any other, other people who are working with us on that side.   Jesse (29m 8s): No, that's great. You've, you've kind of found a, an in between, right. Between the larger syndication or asset specific capital raising and, and just doing it all on your own in terms of the, so the structure that you have now, you've, you've purchased these properties over the years, and you're now doing coaching and teaching. When it comes to retire early with real estate, the book that you worked with with bigger pockets, how did that come about? And in terms of, you know, putting that out there and, and how long ago was that, that, that the book came out?   Chad (29m 39s): Yeah, it coincided with my family. I were in Ecuador. You mentioned that at the very beginning, we decided to take this sabbatical trip and it was sort of just, it was representative for us that, all right, we're, we're, we've hit a plateau, we've got enough income coming in. There's still work to be done, but we're ethic, we're at a good place. And so we traveled and then our daughters were three and five years old and my wife teaches Spanish. I like, we like foreign languages. So they learned Spanish and enrolled in schools locally. And we just enjoyed living. There, just went to Cuenca Ecuador at the same time though, you know, always thinking of what's next. And I had been writing a blog for bigger pockets or writing on their blog and had my own blog going on.   And, and just, I think I was talking to Brandon Turner. It was some conference and he said, oh, you got to write a book, Chad, just pitch this pitch, the book idea at a bigger pockets. And so that was, you know, a year or two before we went on that sabbatical. But I, I decided to write the book while we were at Ecuador so that everybody else would go to bed, you know, eight, eight or nine o'clock. They put the kids to bed and then I'd write for like an hour or two. And for me, it was just, it was putting into a framework what we had done in our business. So from, I used the metaphor saying, you start at the bottom of a mountain, you're looking up at the top of the mountain.   The top of the mountain is this idea of financial independence. When you have enough wealth to pay all of your personal expenses, whether that's rental income in our case, or if you own stocks or something else. And so I tried to give people several different routes up that mountain, that how do you do that? How do you do your first deal and get that first capital when you don't have a lot of capital or have a lot of knowledge often through house hacking often through, you know, maybe move into a house and then, you know, move out of the house and keep it as a rental or, you know, doing some burrow strategy type deals when you don't have a lot of capital.   And then, but then, you know, moving up the mountain, some of the conversations we've had here, like how do you get to a place where you feel more confident that you can actually live off of your income and actually have a, have time, have free time to do things. So I talked about some of those strategies and having backup plans to your backup plans, you don't have side hustles and things that would make them make you some extra revenue. So it was sort of a, it was a blueprint type book, but then it was also, I interviewed, I think it was 700. I did a survey of 700 people who were aspiring for financial independence or had already achieved it.   And then I profiled 25 of them who are at different levels of their real estate journey. And just talk to ask practical questions, like how many properties do you have? How much income do you need to retire? And so it's all these kinds of financial independence, retirement oriented questions. And I told their stories kind of in between the chapters of the blueprint that I've put together in the book.   Jesse (32m 6s): And how long ago was that, that that book   Chad (32m 8s): Came out 2018 was when it was published.   Jesse (32m 10s): So definitely, definitely still topical in terms of the, the process. I'm always curious, you said your you're writing it when you were away. I imagine it was a lot of work. How was the tactical process of writing the book?   Chad (32m 25s): Yeah, I started with a big outline and, you know, as, as a blogger and you're a podcaster, I think we have content that we put out there where, where idea, we're always putting ideas together. So I had a lot of ideas in mind, but it's a pretty grueling in terms of yeah, just researching and get it. You know, I wrote probably 120,000 words for a book that ended up being 65,000 words, you know? So you cut like half of it out and had friends read it and say, yeah, that sucks. You don't want to do that. You know? And it says the brutal process is not, I mean, writing on a computer is one thing, but just the, the reflective process of putting your ideas out into the world and having them, you know, critiqued, thirdly, stomped on and beat up.   You know, I think my linebacker training was probably the best training I could have had for that, just because I had football coaches who would just scream at you and yell at you. And, and so the end, the end result though, you hope is, you know, it could always be better, but that the end result of that is very satisfying when you get it out there. And the good thing about publishing with bigger pockets, who I know you're you're involved with as well, is that they have a platform. They have people who are interested in the book. So the marketing, the marketing side of things is not my strength. And so I like the writing. I like the teaching. I like sharing, but marketing yourself and putting yourself out there as a whole nother strategy than writing the book.   And that was fortunate that that BiggerPockets could help me on that side.   Jesse (33m 49s): I'm always curious when we have individuals that have written books and what their style was, was it actually pen to paper every day? Was it, you know, modifying transcripts of, like you said, content that they already have, and, you know, I guess everybody's a little different in terms of what their strengths are.   Chad (34m 5s): Yeah. I was just, you know, I had the outline, I had, I had content out there, but it was just every day. I think I read this from Stephen King or somebody like that. I just said, you just got to make a goal, even if it's, even if it's not good that day, just like write 700 words or a thousand words or whatever it is, and just get it out on the, on the computer. And I did type it up. I think I used the Google doc and just had that going for a long time. Now I am pen to paper type person too. Like I love doing my mapping and I'll, if I have ideas for the chapter, I'll sorta mind map that out and draw it out, you know, on a, on a non-digital non-connected type a world.   Cause I had to think clearer, they're usually in the morning or late at night, but that's where the best thinking goes on. But then when you, you gotta just had that, that deep work time of, you know, two to three hours at a time of just knock it out, type something, get it on the paper and this chick away at it, you know, a little bit by little bit by little bit.   Jesse (34m 58s): Yeah, absolutely. Well, I thought we changed gears a little here in terms of where we're at in the market right now. We talked again about this when we were on our panel, you have a particularly particular view of, of where you think the market is right now when it comes to very topical inflation and interest rates. I know, you know, nobody's got a crystal ball here, but how are you preparing for the next year or two for the short term, you know, aside from what you've said about de-risking, but your thoughts on that and, and I guess generally your view on where interest rates are at and where you feel inflation may or may not be.   Chad (35m 33s): Yeah. I mean, if I had to vote or bet on something, which I'm not a great bet betting person, but I would, I would bet inflation's going to be continue to be more of the topic for awhile and at least for a couple of years. So I'm, you know, I, there's not a lot of preparation for me on that side of things, because a lot of our portfolio already, we have some debt still. We have assets that we feel are in really good locations that have long-term potential. So I just, I, I feel like we're in an, all of you who are listening to this, if you're one of the reasons you should be investing in real estate, is it, this is one of the best assets for an inflationary period.   And the other message that I think is so important, but if you're in, if you're in the growth phase for what, wherever you are, whether you're just early in your career as an individual investor, or if you're in the syndication world, the best formula I've ever heard of an investing for inflation is that you buy these assets that go up in value over time because they're good, well located. And you buy a property that has an unleveraged deal of let's say six or 7%. And then you borrow money at 3%. And your cost of capital is three. If you have a margin of three to 4% between what you can produce an income and what it costs you to borrow money, and then that property's going to get better and better over time.   I think that is such an incredible basic formula to build wealth because you are lucky, especially if you can lock that interest rate in for a long period of time. Now that you're, it's only getting better over time. And that's, I kind of keep that in mind in terms of just, it's almost like football, you know, this has simple, simple plays that work well on any market. And that's a simple play borrow for a lower cost than what your property produces by in a good location that has some dynamics of supply demand that are in your favor over the long run, and then just be a buy and hold investor and wait, just be patient you don't, if you get the more you can be flexible on when you exit, then you can be more optimal about, you know, knowing that it's going to happen at some point, but we don't know if it's gonna be three years or five years or 20 years, but we're going to be, be patient enough to get there   Jesse (37m 28s): In terms of unleveraged year, a yield. Just, just so listeners are clear when you talk about unleveraged yield, we're talking about the cap rate for the property, or are you factoring in debt with that yield? Yes,   Chad (37m 39s): But like a cap rate. And I guess I use leverage yield instead of cap rate, because I used to always use cap rate online on my YouTube videos and a couple of like nitpicky people are pointing out that well, that's not exactly what a cap rate is. You know, use a cap rate to value a property or what I'm S what I'm saying is, is an internal metric. This is just, let's just look at this and leverage yield. Let's take all of our expenses, our operating expenses, management, maintenance taxes, insurance, let's take capital expense reserves, whatever we need to make sure we've covered all of our outflows of cash what's leftover when that's all said and done, except for excluding your mortgage payment.   That's, that's what I'm saying. I actually like   Jesse (38m 14s): That term better unleveraged yield or operating yields, because it kind of gets away from this. What I've heard the term. I can't remember who's who coined it, but a suitcase words and cap rate is definitely a suitcase word. It means a million different things to different people. If you're the investor, the broker, the buyer, the seller, you know, and you just hit it right there, even with cap reserves, right? How do we, how do we factor those in some people do it differently? So that makes sense. I mean, you're looking at, from an interest rate perspective, from a risk standpoint, if we could do fix, we do fix, if we can make sure that that yield is higher than the interest rate, it's not rocket science.   You know, the question is finding those properties. Yeah.   Chad (38m 54s): Yeah. And that's, that's the, that's a whole nother thing, but it's, it's we started talking about the market, like, how does the market effect that this is a competitive market? So finding those deals is certainly challenging, but I know when I first started investing in 2004, three and four, we're just not that long ago. Right. It was the interest rates were higher, even then I thought interest rates were low, but you knew there were five or 6%. Now they're three or 3%. I mean, that's, that's incredible. So yes, it is more competitive. Yes. The yields have gone down, but with the right properties and the right markets, that's where we, as operators can really set ourselves apart.   We can find those value, add opportunities. We can find those little pockets of opportunity within our market, in my market. For example, Clemson is my, my main little town, but I think some of the better opportunities, and these are these little small towns, right next, next to the Clemson central and Pendleton and Seneca. Nobody's gonna know what those mean if they're not in my market, but if you're, I think that's my challenge to everybody is try to find ways in this market to do the opposite or go the different direction from what other people are doing. How does it, when the competition's digs, how can you zag?   How can you do something different? And that often is with locations, which is finding those little pocket locations. Sometimes it's with different asset classes. Like I do residential multiunit, but you know, maybe mobile homes are the thing in my area, or maybe there's a self storage, or, I mean, I'm not saying that you should just jumped ship on your, your strategy, but being open to different competitive advantages, I think is what we're all having to do right now.   Jesse (40m 24s): Yeah, for sure. Well, we have final four questions that we ask everybody that comes on the show, but before we, before we get there, I'd love to chat a little bit about what you do on the YouTube channel and how you kinda got into that side of, of really just coaching and, you know, hence coach Carson. But yeah. How did that come about?   Chad (40m 45s): Well, it started as a, as a written thing. So I was a blogger and I actually, well before, even before that, I did coaching locally. So I actually don't do a lot of coaching. Now. It's more like coaching through the YouTube videos, through podcasts, through, through a course online course that I teach, but it would really wish it's starting one-on-one with people locally in my market. And they're saying, Hey, how do I find a deal chat? How do I analyze a deal? And so I would just do it, you know, at a local real estate meetup and show them on the back of a napkin or a back of an envelope. Here's how you do it. Here's what I'm doing. And it was just that, that love of teaching, I guess, that kind of made it so that I was like, I just want to share this more publicly.   And I met the bigger packets guys, Josh and Brandon started writing for them, start writing my own blog. And I wrote so many articles that nobody looked at it. It was just like, I'm really glad they did because they were not that good at the time. But I think whether you're YouTube or podcasts blogger, you just got to love the process of teaching and sharing and ideas in general. And so for me, it grew from that to a blog, which was great. I could write it on my own, turned into a book, the podcast game, just because the people who happen to be reading my blog all were asking me, Hey, I like listening to podcasts and I'd rather do that than read it all the time.   So I started doing that and then YouTube has been spend kind of a recent passion. I've had a YouTube channel for awhile, but I think it's a more challenging medium in some respects, because you have the video, you've got the, you have people's attention. Span is a lot shorter on YouTube. Unfortunately with the podcasts, you know, people are washing dishes or exercising or something. So you have their attention a little bit longer YouTube, but man, if you, if you're not doing something good, they're out, you know, there's skipping, let's get outta here. So I'm still a rookie in this respect. But a lot of my style there is kind of a tutorial driven.   I'm trying to use a little whiteboard and show, you know, they look over my shoulder. Here's how I would run the numbers. Here's an, here's what an unleveraged yield needs. Here's how you calculate cashflow or here's a story about a deal I did. This is my first rental property. And here were the numbers in the beginning. Here's how it changed over time. Here's my spreadsheet I use. So it gives me the ability, like a podcast is a good conversation media, but a YouTube is more of an instructional tutorial based. And I've really enjoyed that, that aspect of it as well.   Jesse (42m 53s): Yeah. And I find the thing with YouTube as well. It's the more challenging thing, at least for me, it's the consistency of putting episodes out. Like when you're you got a podcast, you know, you have a, you have a call with somebody today. You got to be there that other person's going to be there when it comes to YouTube to kind of self-start cause you can outsource a lot of things. It's very difficult to outsource your face in front of a camera.   Chad (43m 13s): Yeah. We haven't figured that one out yet, but that's also what makes it special. Like I think YouTube is so cool and that it's basically taking down the big media networks. Like it's, it, it is more popular. There's more views. And who are the people who are creating? Yes, there's some big names out there, but it's just like the Chad Carson who's check cars. They want to know what it is he have to do with anything. Nobody gave him permission to give content. And the only reason, the reason that we are doing that out there is that people are voting with their views. And that, that is, that's a cool concept. That to me is like, it's the, it's the epitome of the internet, but it's also on a large scale with YouTube that people are choosing to sit down in front of their TV or the computer or their phone and watch these no name creators who are producing good content and then they vote for it.   And then YouTube has an algorithm that shares that with other people because people are voting with their, with their watch time. And that's, that's pretty, that's pretty amazing.   Jesse (44m 4s): Yeah, absolutely. No, for sure. It's a, it's definitely a great medium, especially for on the instruction front. All right, Chad, we got four questions. We ask everybody that comes on the show. So if you're ready for those, I'll, I'll send them your way. All right. Let's do it. All right. What's something that, you know, now in your career could be business real estate that you wish you knew when you first started out.   Chad (44m 25s): Yeah. The numbers are not everything. When you analyze a rental property or any kind of property, I was so enamored with the numbers early on and you know, I'm a spreadsheet nerd. I'm sure a lot of real estate investors are that I would just get enamored with. Oh, look at this cap rate, look at this internal rate of return. Look at this cashflow potential. And I ignored the other half of that coin, which is the kind of qualitative metrics of that property of location, of desirability, of long-term potential, you know, opportunity to add value to the property.   And so I, I missed, I missed on some opportunities, but I also put too much weight into some properties that had, they were they had a good cashflow for a reason. They were in a bad location and the next door neighbor was dealing drugs. You know? So it's like, I, I learned the hard way early in my career about that, but I said, there's a more balanced approach now to saying, yes, I got to have metrics that make sense, but I also need to have those metrics are driven by real world human beings who choose to live in a place for a certain reason, let's start with a human being. And then let's just use the metrics that sort of control my emotional irrational impulses.   That's the, the, the, the metrics are just to kind of keep me in check.   Jesse (45m 35s): Yeah. That's a great answer. Couldn't agree more with that. All right. In terms of somebody that's getting into our industry, what would, what advice would you give them and just generally your view on, on mentorship.   Chad (45m 46s): I think you need to love the process. And I don't mean like, you know, this is real estate investing has been your passion for all your life, but I do mean that if, if you, if you're doing it, just because it seems lucrative or seems like it's a place to make a lot of money, like that's fine. Like making money is great. We all should make money, but you gotta have something that really draws you to this business. And for me, it was like running the numbers. It's really interesting to me that I sort of tapped into something that was, that I just enjoy doing. I enjoy the communication and the human side of things.   The negotiations are really fun for me. I almost feel like it's a puzzle piece that you get to put together. So, you know, I, I, I had a, I almost have a bad habit of just doing deals because I just loved the, the deal, you know, let's put the deal together, you know? And so that's, I think going back to a new person, who's getting into the business, find a piece of the business that you love, whether that's the remodeling side of things, the am analysis side of things, the negotiation side, or multiple, and to stick with that, like get really good at that. Find that kind of intersection of what you're passionate about, what you're good at and what a need in the marketplace is.   And if you just stick with that, it's focused on that. The rest I think will take care of itself. That's great.   Jesse (46m 56s): All right. Number three, aside from your book retire early with real estate, or what book recommendations are you constantly giving out again and again that you could share with listeners?   Chad (47m 7s): Yeah. This is a oldie classic book, seven habits of highly effective people. I just, I was fortunate enough to read that right after I was getting out of college. And it's one of those books that, you know, the first three habits are just personal habits, like being proactive, putting first things first, you're just learned about personal effectiveness and planning. The second three habits are all about interpersonal communications. So how to, you know, think win-win make sure that the person's winning and you're winning listen first, don't seek always like, get your first word in.   So there's just some core, like really good principles that I I've re-read that book like 10 times every time I reread it, I'm getting other little kind of layered benefits from it. So highly recommend that one.   Jesse (47m 49s): Yeah. I guess every time there's, there's more nuance that you get out of that book. All right. Last question. My softball first car make and model   Chad (47m 58s): First car make a bottle. This is a Toyota Camry, 1995 model cloth Gracie. And, you know, drove that to high school, drove that to college. It was actually, this is a funny story. When I started my real estate, this is, I still had that car and I put, I was trying to find deals and I put these noxious vinyl signs all over the side of my car saying like we buy houses and here's my phone number. And it was sort of a, it's sort of a turning point for me. I was embarrassed. I was like, God, this is horrible.   I've putting these all in my car, drove away one girlfriend who was like, ah, you're not, I really don't want to be around being around you. But then I was a kind of a filter for my next girlfriend who became my wife because she's like, oh, whatever, that's fine with me. But the cool thing about that for me, that that car was, I owned it free and clear. And then I put a sign on top of it that I made cost me 300 bucks to put the signs on there. And I ended up buying a property every year for like five years that made me, you know, minimum five, 10 grand per property off of this marketing that it, so this car was like a money machine did really well.   Jesse (49m 4s): I think that's the best answer to that question that we've had on the show. That's, that's pretty good. Awesome. In terms of where people can reach out to you aside from a quick Google search, where can they go, Chad?   Chad (49m 16s): Yeah, my, my home base online coach carson.com. That's where you can find my podcast. Although you can search for my podcast on any of the podcast players out there, apple, Spotify, those as well. And then of course on YouTube, if you search for me on YouTube, we'd love to hear from you. Please leave me a comment on YouTube or somewhere. Always like to hear your story and, and respond to that. And what would enjoy connecting it with you somewhere online?   Jesse (49m 38s): My guest today has been Chad coach Carson. Chad, thanks for being part of working capital.   Chad (49m 42s): Yeah. Thanks for having me, Jesse. This has been a lot of fun.   Jesse (49m 52s): Thank you so much for listening to working capital the real estate podcast. I'm your host, Jesse for galley. If you liked the episode, head on to iTunes and leave us a five-star review and share on social media, it really helps us out. If you have any questions, feel free to reach out to me on Instagram, Jesse for galley, F R a G a L E, have a good one. Take care.

The Stacking Benjamins Show
A Better Way To Buy Investment Real Estate (with David Greene) - REWIND

The Stacking Benjamins Show

Play Episode Listen Later Nov 10, 2021 61:32


Zillow is in the headlines recently, because they're real estate purchase program hasn't worked as expected and they're dumping properties purchased only months ago. Many of these properties are selling for less than the purchase price. Is this a sign of another real estate crash or just a bad business move on Zillow's part? The next few weeks will be telling, but if you are thinking of buying more real estate, we have a great show for you today. David Greene from BiggerPockets is here to help you grow your real estate empire. This episode originally aired in 2019 and you can see our original show notes here. Enjoy!

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

Zillow reportedly has about 7,000 homes that it now needs to unload—many for prices lower than it originally paid. Today's guests explain that Zillow's pricing problem is the number one problem for new real estate investors.  Guests Brandon Turner and David Greene host the #1 real estate podcast, BiggerPockets, and they emphasize the best thing any investor could do is get educated.  David Greene says, “Real estate investors have to study the asset itself and macroeconomics. You have to adapt your strategy to what's happeing with both.”  Host Robert Kiyosaki and guests David Greene and Brandon Turner discuss the latest in real estate and the best opportunities ahead in 2022.  Learn more about your ad choices. Visit megaphone.fm/adchoices

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli

A lot of women in our community struggle asking for help, and I'll be the first to raise my hand and say that I find it hard to ask for help in different areas of my business and even in my life.This is not a rookie issue. Even the most seasoned investors struggle with the mindset that asking for help is somehow a sign of weakness or lack of capability.Here's the thing, by accepting this mindset, we are missing out on a huge opportunity to leverage our time, money and energy all while expediting the process of achieving whatever our goal is. We all have those areas that are tough for us, and I want to encourage you that, number one, you are not alone, and number two, we have some practical tips that will help you break that barrier. So dive into today's Minisode and take a walk with us as we talk about three ways to comfortably ask for help.Quotes• “A lot of women in our community struggle asking for help. And I can certainly raise my hand and say that I struggle asking for help in different areas of my business and in my life. (01:18-01:31)• “We are inheriting a mindset where it says, ‘well, asking for help is a sign of a weakness, or it will show other people that we are not capable of doing things.' And that is a mindset of limitation.” (2:16-2:33)• “Asking for help, will get you further quickly… [It] might save you time, might save you money, might save you mistakes; partner up with somebody that already does what you're looking to do.” (2:46-3:07)• “Consciously asking for help is a sign that you are indeed capable and able to do something but you choose to leverage your time, your experience, your skill set.” (3:58-4:09)• “The impact of you asking for help, is that you will allow other people to ask for help as well.” (5:24-5:34)• “For me to play out my best life, if you will, and continually get refined there, it's inevitable: You have to leverage people's time, it's inevitable. You're going to need help in so many different ways in so many different areas.” (08:38-08:49) Your Voice Matters. We appreciate your feedback and would like to hear from you. Click here to answer a few questions about our podcast: https://airtable.com/shr8fJS0a0uHedcza How To Join the InvestHER Movement 1) The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves. Subscribe via:Apple Itunes SpotifyAmazon MusicAndroid Stitcher 2) The Real Estate InvestHER Membership Our Membership focuses on three pillars: Real Estate Investing, Business Strategies, and Self-Care. We provide a financial freedom road map for women to create steady recurring income to live life on their own terms. Start today with our FREE membership level. 3) InvestHER Community on Facebook We have thousand of members in our Facebook InvestHER Community (and growing!) This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals! 4) InvestHER Meetups Around the Globe We have Investher Meetup members attending in person meetings across the country and Canada. Meetups are being held monthly by experienced InvestHER Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Leader HERE! 5) InvestHER™ eXp TeamOur mission is to empower women in Real Estate to live a financially free and balanced life, and we are extending our support to Real Estate agents worldwide. We have created exclusive content and support for the InvestHER™ eXp Team:*Top skills and strategies to grow YOUR business*How to utilize your “real estate agent” advantage to become a real estate investor*Monthly live masterminds*Become part of Libertas Organization with top coaches, Tim and Julie Harris. Jonna Hall Weber is leading our team. If you have any questions or are ready to join our team, click here to schedule a call with her. Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvestherYouTube: Watch our shows hereSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The A Game Podcast: Real Estate Investing For Entrepreneurs
Keys To Success In Real Estate Investing, Entrepreneurship Leadership Inside and Outside The Cage | Urijah Faber

The A Game Podcast: Real Estate Investing For Entrepreneurs

Play Episode Listen Later Nov 8, 2021 62:11


Join Nick Lamagna on The A Game Podcast with guest "The California Kid" Urijah Faber!  Many know as the MMA legend and UFC Hall Of Famer but you may not be as familiar with Urijah the entrepreneur, business owner and real estate investor.  Urijah has a lifetime of experience to share from his own success and failures with people, products and properties as well as from lessons passed on from moguls such as BJ Penn and Lorenzo Fertitta.   We discuss how he has built up a multimillion dollar real estate portfolio from residential to commercial, investing through a crash, mindset, setting expectations with partners, overcoming obstacles in business and professional breakups and tons of valuable tips and experiences contributing to his success in MMA and business. Check the show notes to find all the ways to connect with Urijah and make sure to contact Nick to start getting into some real estate deals together! Topics this episode include: ✅  How patience has made Urijah millions in real estate  ✅  Going from  a $223k single family deal to multimillion dollar commercial deals ✅  Following your passion and sharing it with others can bring you true fulfillment in life ✅  What is "Personal credit" and why is it important to connect people ✅  Urijah's formula and advice for what it takes to be successful ✅  How a structure your day for productivity + More Need to borrow money for Real Estate?  Email Morse@nationwidebcg.com and tell her The A Game Podcast sent you or look under affiliates by clicking here   --- Connect with Urijah on: http://urijahfaber.com/ Urijah Faber on Instagram Urijah Faber on Facebook Urijah Faber on LinkedIn Urijah Faber on Twitter Urijah Faber on Youtube Call Me Al Show with Al Iaquinta --- Connect with Nick Lamagna www.NickNickNick.com Click Here for all social media links and podcast options Free Checklist On How To Add Value To Your Buyers Like what you hear? Leave a rating & review by clicking here     

Millennial Investing - The Investor’s Podcast Network
REI095: Real Estate As A Subscription? w/ Nico Ortega

Millennial Investing - The Investor’s Podcast Network

Play Episode Listen Later Nov 8, 2021 25:47


IN THIS EPISODE, YOU'LL LEARN: 11:32 - Where Nico came up with the idea of using a subscription model for short-term rentals for renters and how it will work. 15:33 - What owners of the short-term rentals will get from this opportunity and what they will receive in return for being a part of the program.17:25 - How much will a renter who is looking to utilize NUOVO's program spend and will the subscription amount be different if they're staying in different places?22:09 - How does NUOVO make money in this arrangement and is it like a normal management company where one takes a percentage of monthly income?22:25 - How Nico is planning to expand beyond Miami and where he is looking to expand to.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.EPISODE RESOURCESGet more FREE content from Robert.Get a FREE audiobook from Audible.Read the 9 Key Steps to Effective Personal Financial Management.Check out our Investing Starter Packs about business and finance.Learn about our Investing Starter Packs on real estate.How to invest in NUOVO. Napoleon Hill's book Think and Grow Rich.Brandon Turner's book The Book on Rental Property Investing.Mark Ferguson's book Build a Rental Property Empire.Antoine Martel's book A Millennial's Guide to Investing in Cash Flowing Rental Properties.Find great markets to invest in with Wiserei.Real estate education platform BiggerPockets.All of Robert's favorite books.Support our free podcast by supporting our sponsors.Save with a credit union that helps you build financial confidence with Navy Federal Credit Union.Make it simple to hire and manage remote employees across all 50 states with Justworks.Have high quality, sustainably-sourced Wild-Caught Seafood delivered right to your door with Wild Alaskan Company. Order today and get $15 off your 1st box of premium seafood.Make your home safe with Simplisafe and get 40% off today. Indoor and outdoor cameras, comprehensive sensors, you name it.Learn more about how you can get started investing in some of the best cash flow markets today with Rent to Retirement.Transform how you drive business results and connect with customers with Snap AR.Get the most unique goods every month from small businesses and emerging brands with Bespoke Post's Box of Awesome. Get 20% off your first monthly box with the code MI.Read this episode's transcript and full show notes on our website.Connect with Nico: Website | Instagram Connect with Robert: Website | Twitter | Instagram See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cashflow Ninja
699: Michael Mathe & Jean Jeansonne: Turnkey Luxury Short Term Rentals

Cashflow Ninja

Play Episode Listen Later Nov 8, 2021 51:06


My guests in this episode are Michael Mathe from VIP Financial & Little Pink Houses Of America and Jean Jeansonne. Michael and Jean share a short-term luxury rental turnkey business strategy. Grab My Book: The 21 Best Cashflow Niches™: www.cashflowninja.com/21niches Programs: The Cashflow Ninja Cashflow Investors Club™: www.cashflowninja.com/club Your Own Banking System™ : www.yourownbankingsystem.com Your Own Family Office™: www.cashflowninja.com/familyoffice The Crypto Investing Method™: www.cashflowninja.com/crypto The Cashflow Creator Formula™: www.cashflowninja.com/creator The Cashflow Core Builder™: www.casflowninja.com/core The Cashflow Multiplier™: www.cashflowninja.com/multiplier The Cashflow Quantum™: www.cashflowninja.com/quantum Connect With Us: Website: http://cashflowninja.com Podcast: http://cashflowinvestingsecrets.com Facebook: https://www.facebook.com/cashflowninja/ Twitter: https://twitter.com/mclaubscher Instagram: https://www.instagram.com/thecashflowninja/ Pinterest: https://www.pinterest.com/mclaubscher/cashflow-ninja/ Linkedin: https://www.linkedin.com/in/mclaubscher/ Youtube: http://www.youtube.com/c/Cashflowninja Bitchute: https://www.bitchute.com/channel/cashflowninja/ Rumble: https://rumble.com/c/c-329875 LBRY.tv: https://lbry.tv/@Cashflowninja:9?r=DoJHKKGqTbf8sdChMP1oLtCrJWEYK3ZM Brighteon: https://www.brighteon.com/channels/cashflowninja Brandnewtube: https://brandnewtube.com/@cashflowninja Parler: https://parler.com/profile/cashflowninja/ Gab: https://gab.ai/cashflowninja Minds: https://www.minds.com/cashflowninja Biggerpockets: https://www.biggerpockets.com/users/mclaubscher Medium: https://medium.com/@mclaubscher Substack: https://mclaubscher.substack.com/

Ninja Coaching Coast To Coast
Special Q&A to Celebrate 300 Episodes

Ninja Coaching Coast To Coast

Play Episode Listen Later Nov 8, 2021 49:16


Join Matt and Garrett as they celebrate 300 episodes of The Ninja Selling Podcast with a very special Q&A show! They dive right into your questions, beginning with how to handle potential clients who want to see a house immediately, and those who would jump at the right house but otherwise aren't in a hurry. You'll also hear about planning your budget to ensure you're providing value without overspending, educating yourself around real estate investments, and how to set recent Ninja graduates up for success.   Our hosts offer their thoughts on prioritizing the Ninja Nine Systems into your routine, making sure to keep people in your autoflow, having Magic Wand conversations, and asking F.O.R.D.  questions (Family, Occupation, Recreation, and Dreams) to truly understand your clients, build genuine relationships with them, and identify how you can help them accomplish their goals.    As entertaining as it is informative, today's super-sized anniversary episode is full of helpful tips and resources, insightful topic discussions, and detailed answers to all your questions that will leave you ready for another 300 incredible installments! Thank you so much for listening and for your participation in this amazing community.   To share your ideas, ask questions, and connect with other Ninjas, join the Ninja Selling Podcast Group on Facebook. You can also leave a voicemail with your direct feedback at 208 MY-NINJA. And visit Ninja Selling Events for more information about upcoming open installations. Or if you're interested in taking your goals a step further, visit Ninja Coaching to check out all of our amazing coaches.   Episode Highlights:  Special Q&A show for our 300th episode Potential client who wants to see a house immediately, but you believe in 10-Step Buyer Process It's best to meet with them beforehand, at a location other than the property in question Stick to your Systems, especially around safety Start your work together with the 10-Step Buyer Process and a Buyer Packet Underlying life changes that are causing either pain or pleasure that motivate action Magic Wand Conversations Keep people in autoflow and offer to send information of value Organize your “Hot List” with people at the highest level of pain or pleasure at the top Budgeting without overspending - Ninja is a very inexpensive business to run A big red flag is if your expenses exceed 30% of your income Majority of value you bring is through personal interactions Make sure you're not putting more on your credit card than you can pay off at the end of the month Educating yourself on real estate investments (Bigger Pockets and Focus 1st are great resources to get started) Understand your client and what they're trying to accomplish Setting new Ninjas up for success, providing an environment that allows them to take action Fitting Ninja Nine into your routine   Quotes:   “The most important thing you can try to do up front is see if you can schedule that time just to meet face-to-face and not at the property.”   “You have to put your foot down on a process.”   “I'm very particular about making sure people are safe. You have to have a full process with that.”   “Yes, we can definitely go see this house. But I have a process… I have a system that will help us see other opportunities that maybe you haven't been able to see yet.”   “It starts at the beginning, when you introduce yourself, and you're having those conversations, you're asking F.O.R.D. (Family, Occupation, Recreation, Dreams) questions, learning a little bit about what's going on with those people who are walking through.”   “Those ‘What If'  people out there, they're not really buyers unless you can determine that they have some sort of underlying pain or pleasure that they need an answer to. If they don't have it at all, be real careful how much time you're giving to them.”   “We need to know what's the motivation behind them wanting to move forward with a process because that's going to help you qualify who's serious.”   “It's easy to get caught up with just adding value and then realizing you now have a five-digit credit card bill. What the heck happened?”   “My warning sign typically goes off if people's expenses are 30% of their income.”   “The majority of the value that you're going to bring to people is going to be through your personal interactions.”   “Start with what actually adds value as it relates to your profession. And then you can add on top of that.”   “It's not about the gift. It's about the time, it's about you paying attention to them. And we want to create more opportunities for you to have that interaction with them.”   “If you're an agent, and you don't own an investment property, it doesn't mean that you can't help investors - you just need to know what they're looking for.”   “Create an environment that allows [new Ninjas] to take action.”   “That is what we specialize in is helping people come out of an installation and smash it out of the park.”   “Take a look at how you're currently operating your routine and visualize, What's my Magic Wand routine? And now what are the things that I need to do to get there?”   “Our number one focus is building a foundation that we can consistently follow over and over again.”   “Thank you to everybody who listens to us week over week. And for all of you who continue to send us questions, and share this and really help us keep this podcast alive. It's awesome. I really, really appreciate each and every one of you.”   Links:   www.TheNinjaSellingPodcast.com   Email us at    TSW@TheNinjaSellingPodcast.com   Leave a voicemail at (208) MY-NINJA   Ninja Selling www.NinjaSelling.com @ninjasellingofficial   Ninja Coaching: www.NinjaCoaching.com @ninja.coaching   Ninja Events www.NinjaSelling.com/Events    Garrett garrett@ninjacoaching.com @ninjaredding   Matt matt@ninjacoaching.com @matthewjbonelli   The Ninja Selling Podcast Facebook Group  

BiggerPockets Money Podcast
247: Turning 31 Years of Financial Disaster into Ultimate Freedom w/ Alex Felice

BiggerPockets Money Podcast

Play Episode Listen Later Nov 8, 2021 78:58


There are few people on this earth that can make Mindy laugh as much as Alex Felice. He's been around the block with BiggerPockets a few times, appearing on episode 301 of the BiggerPockets Real Estate Podcast. Alex has a growing rental property portfolio, a flipping business, and is a professional photographer/videographer. But, beneath his success, was thirty-one years of financial struggle.Alex was taught financial skills growing up. The only problem: he didn't listen to any of the advice he was given. He joined the Army without any skills, and as soon as he got out, he immediately bought a new car with a high monthly payment. He then was hit with a DUI, forcing him to really think what his life would turn out like unless he made a change.He needed cash flow but didn't want to go out and get another job, so he settled on investing in real estate. It was important for Alex to have a “get rich slowly” type asset, one with stability that could take care of him well into retirement. Now, he's amassed an impressive portfolio, with some large commercial deals and flips on the side. Alex spends his days investing, working on his skills, traveling, and really doing whatever he wants!In This Episode We CoverWhy self-sustainability is more important than a big paycheck Using “radical responsibility” to mold your perfect life and never falling into the “it will be okay” trapBuying foreclosures and BRRRRing properties to minimize cash needed for investingHaving control over your money so you have ultimate financial freedomWhy you MUST surround yourself with like-minded, successful individuals Focusing on your passions (regardless of whether they pay well or not)And So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Greg Dickerson Show
Will housing prices fall if rates rise?

The Greg Dickerson Show

Play Episode Listen Later Nov 7, 2021 12:03


Whenever you're ready here's how I can help you… Courses https://www.dickersoninternational.com/courses One on one Coaching https://www.dickersoninternational.com/coaching Subscribe to my YouTube channel https://www.youtube.com/user/agregdickerson/?sub_confirmation=1 Subscribe to my Podcast: https://www.dickersoninternational.com/podcast ----- Greg is a serial entrepreneur, real estate developer, coach, and mentor. He has bought, developed and sold over $250 million in real estate, built and renovated hundreds of custom homes and commercial buildings, developed residential and mixed-use subdivisions and started 12 different companies from the ground up. Greg currently mentors some of the top entrepreneurs, real estate investors and real estate developers in the country helping them grow and scale their business, raise more capital and do bigger deals. Greg's current clients have over $2 billion in AUM and deals in the process. ------ Follow and reach out to me on: Instagram: https://www.instagram.com/thegregdickerson Facebook: https://www.facebook.com/pg/thegregdickerson Twitter: https://twitter.com/agregdickerson LinkedIn: https://www.linkedin.com/in/agregdickerson Website: https://www.dickersoninternational.com ------ #realestate #realestateinvesting #realestatedevelopment #houseflipping #biggerpockets #apartmentsyndication #realestatesyndication #entrepreneurship #realestatedeveloper #realestatedevelopervsinvestor #landdevelopment #howtobeanentrepreneur #howtobuyabusiness #howtostartabusiness #landflipping #howtoflipland #Commercialrealestateinvesting #BusinessCoaching #EntrepreneurshipCoaching #BusinessMentorship #Leadershipcoaching #businesscoach #businessaquisitons #businessbuying #cryptocurrency #bitcoin #dogecoin #ethereum #shiba #blockchain #crypto #investing #bitcoinprice #ethereumprice #dogecoinprice #ether ----- This channel is all about Entrepreneurship, Real Estate Investing, Real Estate Development and Cryptocurrency and Bitcoin Investing: How to invest in real estate, how to develop real estate, how to flip houses, how to flip land, how to develop land, how to become a real estate developer, how to wholesale houses, how to flip houses, how to invest in commercial property, how to invest in commercial real estate, how to buy apartment building, how to buy commercial property, real estate investing courses, real estate investing career, how to raise capital, how to find private investors, how to fund real estate deals, how to invest in cryptocurrency, how to invest in bitcoin, how to buy bitcoin, how to buy dogecoin, how to buy ethereum, what is blockchian Real Estate Development, Real Estate Development 101, Real Estate Development process, Real Estate Development career, Real Estate Development company, Real Estate Development finance, Real Estate Development process, Real Estate Development funding, Real Estate Development degree, Real Estate Development course, Real Estate Development vs investment, Real Estate Land Development, Real Estate Development Company, Real Estate Development Analysis, BiggerPockets, how to buy apartment buildings How to start a business, How to buy a business, how to grow and scale a business, how to be an Entrepreneur, entrepreneurship, leadership, how to manage people, motivational videos, leadership videos, mindset, investing, --- Support this podcast: https://anchor.fm/greg-dickerson/support

The Greg Dickerson Show
Will Inflation tank the economy?

The Greg Dickerson Show

Play Episode Listen Later Nov 6, 2021 10:19


Whenever you're ready here's how I can help you… Courses https://www.dickersoninternational.com/courses One on one Coaching https://www.dickersoninternational.com/coaching Subscribe to my YouTube channel https://www.youtube.com/user/agregdickerson/?sub_confirmation=1 Subscribe to my Podcast: https://www.dickersoninternational.com/podcast ----- Greg is a serial entrepreneur, real estate developer, coach, and mentor. He has bought, developed and sold over $250 million in real estate, built and renovated hundreds of custom homes and commercial buildings, developed residential and mixed-use subdivisions and started 12 different companies from the ground up. Greg currently mentors some of the top entrepreneurs, real estate investors and real estate developers in the country helping them grow and scale their business, raise more capital and do bigger deals. Greg's current clients have over $2 billion in AUM and deals in the process. ------ Follow and reach out to me on: Instagram: https://www.instagram.com/thegregdickerson Facebook: https://www.facebook.com/pg/thegregdickerson Twitter: https://twitter.com/agregdickerson LinkedIn: https://www.linkedin.com/in/agregdickerson Website: https://www.dickersoninternational.com ------ #realestate #realestateinvesting #realestatedevelopment #houseflipping #biggerpockets #apartmentsyndication #realestatesyndication #entrepreneurship #realestatedeveloper #realestatedevelopervsinvestor #landdevelopment #howtobeanentrepreneur #howtobuyabusiness #howtostartabusiness #landflipping #howtoflipland #Commercialrealestateinvesting #BusinessCoaching #EntrepreneurshipCoaching #BusinessMentorship #Leadershipcoaching #businesscoach #businessaquisitons #businessbuying #cryptocurrency #bitcoin #dogecoin #ethereum #shiba #blockchain #crypto #investing #bitcoinprice #ethereumprice #dogecoinprice #ether ----- This channel is all about Entrepreneurship, Real Estate Investing, Real Estate Development and Cryptocurrency and Bitcoin Investing: How to invest in real estate, how to develop real estate, how to flip houses, how to flip land, how to develop land, how to become a real estate developer, how to wholesale houses, how to flip houses, how to invest in commercial property, how to invest in commercial real estate, how to buy apartment building, how to buy commercial property, real estate investing courses, real estate investing career, how to raise capital, how to find private investors, how to fund real estate deals, how to invest in cryptocurrency, how to invest in bitcoin, how to buy bitcoin, how to buy dogecoin, how to buy ethereum, what is blockchian Real Estate Development, Real Estate Development 101, Real Estate Development process, Real Estate Development career, Real Estate Development company, Real Estate Development finance, Real Estate Development process, Real Estate Development funding, Real Estate Development degree, Real Estate Development course, Real Estate Development vs investment, Real Estate Land Development, Real Estate Development Company, Real Estate Development Analysis, BiggerPockets, how to buy apartment buildings How to start a business, How to buy a business, how to grow and scale a business, how to be an Entrepreneur, entrepreneurship, leadership, how to manage people, motivational videos, leadership videos, mindset, investing, --- Support this podcast: https://anchor.fm/greg-dickerson/support

The Greg Dickerson Show
Mortgage Apps are falling. What does the mean for Housing?

The Greg Dickerson Show

Play Episode Listen Later Nov 5, 2021 13:55


Whenever you're ready here's how I can help you… Courses https://www.dickersoninternational.com/courses One on one Coaching https://www.dickersoninternational.com/coaching Subscribe to my YouTube channel https://www.youtube.com/user/agregdickerson/?sub_confirmation=1 Subscribe to my Podcast: https://www.dickersoninternational.com/podcast ----- Greg is a serial entrepreneur, real estate developer, coach, and mentor. He has bought, developed and sold over $250 million in real estate, built and renovated hundreds of custom homes and commercial buildings, developed residential and mixed-use subdivisions and started 12 different companies from the ground up. Greg currently mentors some of the top entrepreneurs, real estate investors and real estate developers in the country helping them grow and scale their business, raise more capital and do bigger deals. Greg's current clients have over $2 billion in AUM and deals in the process. ------ Follow and reach out to me on: Instagram: https://www.instagram.com/thegregdickerson Facebook: https://www.facebook.com/pg/thegregdickerson Twitter: https://twitter.com/agregdickerson LinkedIn: https://www.linkedin.com/in/agregdickerson Website: https://www.dickersoninternational.com ------ #realestate #realestateinvesting #realestatedevelopment #houseflipping #biggerpockets #apartmentsyndication #realestatesyndication #entrepreneurship #realestatedeveloper #realestatedevelopervsinvestor #landdevelopment #howtobeanentrepreneur #howtobuyabusiness #howtostartabusiness #landflipping #howtoflipland #Commercialrealestateinvesting #BusinessCoaching #EntrepreneurshipCoaching #BusinessMentorship #Leadershipcoaching #businesscoach #businessaquisitons #businessbuying #cryptocurrency #bitcoin #dogecoin #ethereum #shiba #blockchain #crypto #investing #bitcoinprice #ethereumprice #dogecoinprice #ether ----- This channel is all about Entrepreneurship, Real Estate Investing, Real Estate Development and Cryptocurrency and Bitcoin Investing: How to invest in real estate, how to develop real estate, how to flip houses, how to flip land, how to develop land, how to become a real estate developer, how to wholesale houses, how to flip houses, how to invest in commercial property, how to invest in commercial real estate, how to buy apartment building, how to buy commercial property, real estate investing courses, real estate investing career, how to raise capital, how to find private investors, how to fund real estate deals, how to invest in cryptocurrency, how to invest in bitcoin, how to buy bitcoin, how to buy dogecoin, how to buy ethereum, what is blockchian Real Estate Development, Real Estate Development 101, Real Estate Development process, Real Estate Development career, Real Estate Development company, Real Estate Development finance, Real Estate Development process, Real Estate Development funding, Real Estate Development degree, Real Estate Development course, Real Estate Development vs investment, Real Estate Land Development, Real Estate Development Company, Real Estate Development Analysis, BiggerPockets, how to buy apartment buildings How to start a business, How to buy a business, how to grow and scale a business, how to be an Entrepreneur, entrepreneurship, leadership, how to manage people, motivational videos, leadership videos, mindset, investing, --- Support this podcast: https://anchor.fm/greg-dickerson/support

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli
Navigating Her First Year in Real Estate Investing with Sara Gair

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli

Play Episode Listen Later Nov 5, 2021 45:44


What did your first year in real estate investing look like for you? Do you remember the rush? What would you have done differently? Today we have a special treat because our guest, Sara Gair, is a real estate investor who has just finished her first year - and WOW has she already done some incredible things. When the Pandemic hit, Sara and her husband went all in on real estate investing. They even postponed their wedding and used the time to supercharge their real estate investing journey despite the constraints of COVID. As friends and family watched Sara's journey, many reached out asking if they could invest with her. She has since automated a lot of the business and slowed down investing in SF properties and flips to focus on wholesaling and apartment complexes. Sara's story is so unique because instead of focusing on just one strategy, she employs flipping, wholesaling, and rentals as potential exit strategies to land great deals! As a young, female entrepreneur with a degree in mechanical engineering; Sara is not afraid of being a woman in a “man's” business. Within just one year, she has already learned so many lessons that have set her up for success. Whether you're new to investing or a seasoned veteran, Sara's journey will inspire and motivate you as we dive into her first year in real estate investing and get into all the lessons she's learned, what she would have done differently, and what she does now to set herself up for success on a daily basis. Quotes• “When COVID hit we were working from home, it was like right now it's just - it's too good of a time, we have opportunities throughout the day at lunchtime or like right after work… So, at that point, I started getting my real estate license.” (9:59 - 10:16) • “Having multiple exit strategies makes it much easier for us. Because if one charter doesn't work, three different things are in our toolkit that we can pull from.” (13:33 - 13:39)• “My biggest regret, something I really wish I knew, was how do I have multiple exit strategies? And the thing I always say is just don't leave deals on the table, if it's a good deal… there's so many people out there who are willing to help.” (15:49 - 16:06)•”It's a little scary at first using someone else's money, but it makes it so you can scale way more quickly, and then at that point, it's really just how many deals can you find?” (21:32 - 21:39)•”Just jump in, right, you can definitely get into this analysis paralysis and just not move forward. But just jump in and kind of take a leap… For me, it was like once I knew how to run the numbers, if it's a good deal, we're going to do it.” (25:53 - 26:06)•”It really is nice to be able to run my own business and just have multiple opportunities. And COVID really showed me I want to have those opportunities because I'm replaceable at work, and I don't want to have to depend on somebody else besides myself and my husband.” (36:00- 36:14)Connect with Sara Gair:IG: @gair.realestate Your Voice Matters. We appreciate your feedback and would like to hear from you. Click here to answer a few questions about our podcast: https://airtable.com/shr8fJS0a0uHedcza How To Join the InvestHER Movement 1) The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves. Subscribe via:Apple Itunes SpotifyAmazon MusicAndroid Stitcher 2) The Real Estate InvestHER Membership Our Membership focuses on three pillars: Real Estate Investing, Business Strategies, and Self-Care. We provide a financial freedom road map for women to create steady recurring income to live life on their own terms. Start today with our FREE membership level. 3) InvestHER Community on Facebook We have thousand of members in our Facebook InvestHER Community (and growing!) This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals! 4) InvestHER Meetups Around the Globe We have Investher Meetup members attending in person meetings across the country and Canada. Meetups are being held monthly by experienced InvestHER Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Leader HERE! 5) InvestHER™ eXp TeamOur mission is to empower women in Real Estate to live a financially free and balanced life, and we are extending our support to Real Estate agents worldwide. We have created exclusive content and support for the InvestHER™ eXp Team:*Top skills and strategies to grow YOUR business*How to utilize your “real estate agent” advantage to become a real estate investor*Monthly live masterminds*Become part of Libertas Organization with top coaches, Tim and Julie Harris. Jonna Hall Weber is leading our team. If you have any questions or are ready to join our team, click here to schedule a call with her. Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvestherYouTube: Watch our shows hereSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

BiggerPockets Money Podcast
246: Finance Friday: I Want to Cash Out My 401k Early, Should I?

BiggerPockets Money Podcast

Play Episode Listen Later Nov 5, 2021 74:10


“Should I cash out my 401k?” That's a question you never want to ask in an online financial independence forum. It's been a well-known rule to never cash out retirement accounts due to withdrawal penalties, tax implications, and the possibility of throwing away your retirement plans. But, what if you had a substantially larger amount in real estate and other assets, what would you think then?Kate is in this exact predicament and has done a phenomenal job at growing her wealth over the past decade. Kate and her husband have acquired $1.8 million in rental properties, bringing in gross rents of over $10,000 per month! She's currently sitting on half a million dollars in rental property debt and is wondering whether cashing out her 401k to pay off the debt would make sense.Because Kate is in such a high cash flow position, she may be asking a question that's not so obvious. Mindy and Scott spend time walking through calculations that allow Kate to visualize what her life would look like with paid-off rentals as opposed to a fully-funded 401k account. In This Episode We CoverWhy a mentor can help spur you onto to make better, more aggressive investing decisions Moving to a different part of the country to take advantage of higher salariesHow to calculate whether or not you should withdraw your 401k funds Switching your job to a more flexible schedule without giving up your salaryTravel hacking and using credit card points to pay for your vacationsThe benefit of using financing to buy your primary residence or rental propertiesAnd So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

DreamNation Real Estate Podcast with Casanova Brooks
DNRE 100 - Samson Jagoras: The Equity Of Your Name - Why It's Important To Have A Strong Personal Brand

DreamNation Real Estate Podcast with Casanova Brooks

Play Episode Listen Later Nov 4, 2021 56:42


Here's a snapshot of a few things we talked about…         Introduction [00:00:00]         Who is the Clark Kent, When It Comes to Samson Jagoras? [00:01:52]         Where Did He Learn About Entrepreneurship? [00:04:10]         Is He an Introvert or an Outgoing Guy? [00:08:26]         Where Did Real Estate Come into Picture for Him and Your Family? [00:10:39]         What was His First Real Estate Project? [00:16:44]         What Contributed to The Success of Their First Project? [00:18:12]         How Many Properties Does He Have Now? [00:21:02]         How Can People Learn About Syndication? [00:23:33]         What Does Work Look Like in this Syndication World? [00:26:57]         What is Their Goal Going into 2023? [00:29:49]         What are the Merits of a Good Deal? [00:31:43]         Is it One of His Strategies to Stay as Liquid as Possible? [00:40:29]         Does He Believe in Self Banking? [00:43:22]         Why Do Most People Lose Sight of Building Their Brand? [00:47:38]         One Thing He Wishes He Had Implemented Sooner to Accelerate His Journey? [00:51:27]         Where to Find Dustin Brohm? [00:45:20] In This Episode You'll Learn: In this episode, Casanova talks with Samson Jagoras. He talks about how his journey from being a college football player to a Futures and Commodities broker to real estate. Samson shares his thoughts on the power of syndication, how to find good deals, the importance of building your brand, is Bitcoin the next standard, and much more. Have a listen. Key Quotes:         “That one year in between being a walk-on and getting put back on scholarship was probably one of the greatest years of my life because I lived off-campus and I had no cell phone, no car, I would wake up and train in the dark, and every day I showed up for practice was game day…”         Entrepreneurship is just a game. It's a form of creativity and expression, and that's what I love about it the most…         “The people that consistently made money were those people who were real producers that own real assets who are using the futures markets like they were designed, which was to hedge against your cash or your physical…”         “You start studying the game. So that's how I was with real estate. I was buying books and I was on bigger podcasts, and I was listening to podcasts, and I was just investing in my knowledge and trying to figure out what was the best way for me to build the highest cash-flowing real estate possible…”         There are really four ways that you get into real estate syndication. Number one, you work in the industry for seven to 10 years. Number two you're born into it. Number three, you just go bang your head against the wall, or number four, you go find a mentor.         You need three things to get a deal done. I think Brandon Turner with Bigger Pockets was the one that said this, but you need knowledge, you need a team, and you need capital effectively.         There's a saying in the stock world, which is everybody's a genius in a bull market. There's also another saying that's the market always needs another sucker, and so I just don't want to be that sucker.         I stay liquid in things that I think are good stores of value. Links/Resources:         The Bitcoin Standard by Saifedean Ammous         American Jubilee by Porter Stansberry         The Speed of Trust Rebecca R. Merrill and Stephen M. R. Covey         E-Myth by Michael E. Gerber         Traction by Gino Wickman       https://twitter.com/SamsonJagoras         thegrowthvue.com       https://www.instagram.com/samson.jagoras Help us out? If you enjoy our podcast, please head over to Apple Podcasts and leave us a 5-star review. By doing so, you enable us to reach more people.

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli

Getting a Real Estate Accountant on your team is absolutely vital to the success of your business. They provide you financial wisdom and they help take some work of that full plate of yours. BUT, not all accountants are alike and we need to be equipped to know how to pick the right fit for our businesses. Take it from me, I'm on my fourth, yes FOURTH, accountant, because I just didn't know what I didn't know. When I finally smartened up and found the right person, not only did he help us, he cleaned up our past tax returns and we actually got money back! So what kinds of conversations are you having with your accountant? Do they actually give you valuable insights and strategies on your numbers? Are the majority of their client base even real estate investors?In this episode, me and Andressa will break down the questions we believe will help you, not only vet your accountant, but avoid major pitfalls as you scale your business and evolve with your team! Quotes• “I would say, out of everyone on your team, your accountant… I would even say your accountant over your attorney… is one of THE most important people that you have on your team.” (01:23-01:38)• “Honestly I'd rather work with someone who the majority of their client base (and you want to ask them this) actually are real estate investors.” (4:46-4:49)• “Do they own property…? I really want to see that they have in their wherewithal and their experience, that it matches in some way.” (7:44-8:12)• “Do they have experience with other real estate investors…? If they're like, ‘Oh, we work with everyone, we help everybody, it's the same thing, really doesn't matter,' it does! I'm telling you, I am on the fourth accountant, it DOES matter.”(8:30-8:48)• “Are they tactical or strategic? Do they have strategic conversations with their other real estate investor clients or other business clients on a quarterly basis, so that you are getting set up for the most success in your business?” (9:14-9:27)• “Quite honestly, do you like working with that person…? We don't have time to work with people we don't vibe the same way with, per se.” (10:10-10:25)Your Voice Matters. We appreciate your feedback and would like to hear from you. Click here to answer a few questions about our podcast: https://airtable.com/shr8fJS0a0uHedcza How To Join the InvestHER Movement 1) The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves. Subscribe via:Apple Itunes SpotifyAmazon MusicAndroid Stitcher 2) The Real Estate InvestHER Membership Our Membership focuses on three pillars: Real Estate Investing, Business Strategies, and Self-Care. We provide a financial freedom road map for women to create steady recurring income to live life on their own terms. Start today with our FREE membership level. 3) InvestHER Community on Facebook We have thousand of members in our Facebook InvestHER Community (and growing!) This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals! 4) InvestHER Meetups Around the Globe We have Investher Meetup members attending in person meetings across the country and Canada. Meetups are being held monthly by experienced InvestHER Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Leader HERE! 5) InvestHER™ eXp TeamOur mission is to empower women in Real Estate to live a financially free and balanced life, and we are extending our support to Real Estate agents worldwide. We have created exclusive content and support for the InvestHER™ eXp Team:*Top skills and strategies to grow YOUR business*How to utilize your “real estate agent” advantage to become a real estate investor*Monthly live masterminds*Become part of Libertas Organization with top coaches, Tim and Julie Harris. Jonna Hall Weber is leading our team. If you have any questions or are ready to join our team, click here to schedule a call with her. Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvestherYouTube: Watch our shows here See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cashflow Ninja
698: Reed Goossens: Multi Family Real Estate Insights

Cashflow Ninja

Play Episode Listen Later Nov 1, 2021 36:39


My guest in this episode is Reed Goossens. In 2012, Reed quit his job in Australia and moved half way across the globe to the US to change his life, and to chase a dream. With limited funds, no investing experience, and no credit, Reed went from purchasing a small duplex to growing his own real estate investing firm, Wildhorn Capital. Reed now syndicates large multi-million dollar deals across the US. He has also achieved financial freedom, and has taken control of life. Interview Links: Reed Goossens Grab My Book: The 21 Best Cashflow Niches™: www.cashflowninja.com/21niches Programs: The Cashflow Ninja Cashflow Investors Club™: www.cashflowninja.com/club Your Own Banking System™ : www.yourownbankingsystem.com Your Own Family Office™: www.cashflowninja.com/familyoffice The Crypto Investing Method™: www.cashflowninja.com/crypto The Cashflow Creator Formula™: www.cashflowninja.com/creator The Cashflow Core Builder™: www.casflowninja.com/core The Cashflow Multiplier™: www.cashflowninja.com/multiplier The Cashflow Quantum™: www.cashflowninja.com/quantum Connect With Us: Website: http://cashflowninja.com Podcast: http://cashflowinvestingsecrets.com Facebook: https://www.facebook.com/cashflowninja/ Twitter: https://twitter.com/mclaubscher Instagram: https://www.instagram.com/thecashflowninja/ Pinterest: https://www.pinterest.com/mclaubscher/cashflow-ninja/ Linkedin: https://www.linkedin.com/in/mclaubscher/ Youtube: http://www.youtube.com/c/Cashflowninja Bitchute: https://www.bitchute.com/channel/cashflowninja/ Rumble: https://rumble.com/c/c-329875 LBRY.tv: https://lbry.tv/@Cashflowninja:9?r=DoJHKKGqTbf8sdChMP1oLtCrJWEYK3ZM Brighteon: https://www.brighteon.com/channels/cashflowninja Brandnewtube: https://brandnewtube.com/@cashflowninja Parler: https://parler.com/profile/cashflowninja/ Gab: https://gab.ai/cashflowninja Minds: https://www.minds.com/cashflowninja Biggerpockets: https://www.biggerpockets.com/users/mclaubscher Medium: https://medium.com/@mclaubscher Substack: https://mclaubscher.substack.com/

Driving for Dollars Mastery
44 - How a Broker Turned His $50,000 Losses Into Multi-Million Worth Successful Deals in Wholesaling

Driving for Dollars Mastery

Play Episode Listen Later Nov 1, 2021 26:52


When it comes to investing in real estate, wholesaling is one of the most effective ways to make serious money. If you're looking for real estate investing ideas you can implement right now, then this new podcast is for you.  Learn the secrets of successful real estate investing with our guest, Steve Trang, as he walks you through his own experience, his unique mindset for investing, and the niches he's found work best to generate income. Get real-world advice on starting out in wholesaling, as he breaks down more information on this great investment strategy that will help you get started on your wholesaling business! Key Takeaways How Steve got into real estate  His transformation from being an agent into a brokerage owner The challenges and $50,000 losses in the first year  Scaling his real estate business doing different transactions Personal insights and recommendations in wholesaling Steve's advice for those starting out in the real estate space Valuable learning resources for FREE Resources Real Estate Disruptors  BiggerPockets

BiggerPockets Money Podcast
245: High Income, New Cars, Profitable Businesses, and $190k in Debt

BiggerPockets Money Podcast

Play Episode Listen Later Nov 1, 2021 88:51


Brad Finn was raised with a strong work ethic that follows him to this day. He always knew he should be working hard, and that's exactly what he did. Brad worked throughout high school, college, and started multiple businesses in adulthood. While his work ethic was strong, his financial skills were lacking. When Brad went to college, he remembers using almost a third of his student loans on partying alone.Fast forward to his mid-thirties, Brad is waking up in a beautiful house, with two nice cars in the driveway, a great income, a new business, and a negative net worth. It wasn't until Brad allowed himself to look at the true number behind his net worth that he realized something needed to change. Fortunately, his wife had been slowly, but surely, trying to tell Brad that they had to make that change.The day Brad's first child was born, he and his wife were debt-free. This didn't come easy, especially since they were facing close to $190,000 in debt. They tracked their spending and realized they spent close to $20,000 in two months, solely on eating out. They dialed it in, worked side jobs to boost their savings rates, and rewarded themselves when they hit milestones. Now their net worth is growing fast, and they're locked in on investing.In This Episode We CoverCalculating how much you need in student loans and taking out that exact amountHow to continue your debt payoff journey without getting discouragedRewarding yourself for big milestones, even if it will set you back a small amountTalking to your partner about money and asking their opinion on strategies Raising your budget on things that matter while lowering it on things that don'tRetirement plans for government workers, like 403b and 457 plans Understanding that the long journey to financial freedom is worth itAnd So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

BiggerPockets Money Podcast
244: Finance Friday: Why a $1M Retirement Goal Isn't Far Fetched For Late Starters

BiggerPockets Money Podcast

Play Episode Listen Later Oct 29, 2021 56:26


Retirement planning can be complicated when you have so many options to choose from. Do you stick with the Roth IRA, the 401k, the Roth 401k, your employee pension plan, or solely invest in stocks and real estate? With all these different types of accounts and their numerous benefits and drawbacks, it's easy to get stuck financially stalling. One person who has been able to optimize his retirement plans, is Matt, pilot and soon-to-be captain, delivering cargo around the United States. Matt bought a home in high-appreciation St. Petersburg Florida, where his home has already gained a fair amount of equity. Although he loves the ability to rent out his home and create cash flow, Matt doesn't like staying on dry land for too long. He's going to captain his own home; living in a houseboat and renting out his primary residence to lower his living costs even more.Matt talks through questions he has about his 401k, Roth 401k, Roth IRA, and other retirement accounts. Even though Matt feels he could be optimizing his finances for faster retirement, both Mindy and Scott agree: if he keeps doing what he's doing, he'll reach his fifty-year-old retirement goal, without any change to his current lifestyle.In This Episode We CoverDeciding between the 401k, Roth IRA, Roth 401k, and other retirement accounts House hacking and taking advantage of low-interest, owner-occupied loans Whether or not an employee pension should be thought of as a guaranteed retirement Living on a boat to save money on housing costs and maximize cash flowHow to plan for retirement when you have an age limit for your jobEmployee stock purchase plans (ESPPs) and when to invest in oneAnd So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli
Inside the Brilliant Mind of the #1 Commercial Real Estate Crowdfunding Platform's Founder with Jilliene Helman

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli

Play Episode Listen Later Oct 29, 2021 50:32


“We don't yell if people make mistakes. We want them to take risks, we want them to try things,” says Jilliene Helman, Founder and CEO of RealtyMogul. Jilliene has loved real estate since she was a little girl and always knew she wanted to go into the “money business.” After getting rejected from a handful of real estate related jobs, Jilliene decided to start her own real estate company. She compiled her experience from banking, past family real estate investments, and copious amounts of research to create a real estate company with a clear mission: helping individual investors live the lives of their dreams by generating wealth through real estate. Now, Jilliene's company, RealtyMogul has achieved impressive success and was recently named the #1 Commercial Real Estate Crowdfunding Platform by Motley Fool.On today's episode, Jilliene shares her wisdom on finding your niche in real estate. She explains that there is a subset of real estate for everyone. If you like design, Jilliene suggests looking into Airbnb where you can decorate your property to your taste. If you like math, you can focus on one piece of the market that tailors to your specific mathematical interests. Her advice is to make money, but also to fill your life and career path with something that is deeply fulfilling and that caters to your natural strengths. Tune into today's episode of the Real Estate InvestHER Show for a conversation with Jilliene Helman about why real estate is one of the best asset classes available to individual investors, the politics behind real estate, and the importance of self-care for career-focused women. Then, be sure to check out Jilliene's features as an expert on startups and real estate on Bloomberg, CNBC, The New York Times, and Yahoo! Finance and Entrepreneur.Quotes• “So the mission has never changed. How we accomplish that mission has changed, but I wouldn't say that I had it all perfectly mapped out. You know, just things evolve, right? And you learn and things change.” (12:45-12:57) • “So, it's a very scary time to be investing right now. And the reasons are that we've really never experienced an economy like this before. Like, we should have seen a market downturn during COVID. And it didn't happen.” (15:42-15:50)• “There's real risk in real estate investing.” (22:48-22:51) • “One of our core values in the company is to own it.” (27:11-27:15) • “I think that people need to figure out what is their strength, how can they play to that strength and what's their end goal and then by figuring out your strength and your end goal combine those two together and figure out the vertical within real estate that's going to be the most fun.” (37:15-37:15) • “I'm Jewish, and one of the things that has become more and more impactful to me as I get older is like taking time off for Shabbat, like Friday nights, I'm like off my phone, and I'm having dinner with family.” (48:04-48:11) Connect with Jilliene Helman:Website: https://www.realtymogul.com/IG: @realty_mogulFB: https://www.facebook.com/RealtyMogulTwitter: @Realty_MogulLinkedIn: https://www.linkedin.com/company/realty-mogulYour Voice Matters. We appreciate your feedback and would like to hear from you. Click here to answer a few questions about our podcast: https://airtable.com/shr8fJS0a0uHedcza How To Join the InvestHER Movement 1)  The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves.   Subscribe via:• Apple Itunes  • Spotify• Amazon Music• Android • Stitcher  2)  The Real Estate InvestHER Membership Our Membership focuses on three pillars: Real Estate Investing, Business Strategies, and Self-Care. We provide a financial freedom road map for women to create steady recurring income to live life on their own terms. Start today with our FREE membership level. 3)  InvestHER Community on Facebook  We have thousand of members in our Facebook InvestHER Community (and growing!) This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals!   4) InvestHER Meetups Around the Globe We have Investher Meetup members attending in person meetings across the country and Canada. Meetups are being held monthly by experienced InvestHER Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Leader HERE! 5) InvestHER™ eXp TeamOur mission is to empower women in Real Estate to live a financially free and balanced life, and we are extending our support to Real Estate agents worldwide. We have created exclusive content and support for the InvestHER™ eXp Team:*Top skills and strategies to grow YOUR business*How to utilize your “real estate agent” advantage to become a real estate investor*Monthly live masterminds*Become part of Libertas Organization with top coaches, Tim and Julie Harris. Jonna Hall Weber is leading our team. If you have any questions or are ready to join our team, click here to schedule a call with her. Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvestherYouTube: Watch our shows hereSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

BiggerPockets Money Podcast
243: Ramit Sethi's Money Advice for Couples: Live a Rich Life, Together

BiggerPockets Money Podcast

Play Episode Listen Later Oct 25, 2021 90:10


If you're part of the FI community, you're probably a saver. Heck, if you're listening to this podcast you're probably a saver. While we all are busy optimizing our budget, reinvesting dividends, and contributing to our retirement accounts, do we ever take a step back and ask, “why are we saving so much?” Maybe you have a simplistic answer for this: your kids, your spouse, your “future”. When it comes time to finally reap the rewards of all that saving and investing, we struggle, and often fail to do so.Ramit Sethi, the author of I Will Teach You To Be Rich, has struggled with this in his personal life as well. When he got married, he and his wife spoke about what money meant to them, and they were shocked to have completely different answers. While Ramit loves setting up models and spreadsheets, he also encourages couples to speak about their finances through a shared vision. It isn't “I'm saving this money so we can be happy”, it's “WE are saving this money so we can take that camping trip we always dreamed of.”We touch on other topics like joint bank accounts, creating a “worry-free number”, and building a rich life together, as partners. Ramit also gives personal advice to Mindy to help her realize that she has already won the “money game”, even if it doesn't feel like it at times. In This Episode We CoverCombining finances as a couple and creating a shared vision How much to keep in your personal and joint bank accounts Creating your “worry-free” number that allows you to live life without money stressThe “money rules” that Ramit uses in his daily life Getting over your “savings rate obsession” and finding joy in spending Why spending can become painful for those who are on the road to financial independenceAnd So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.