Podcasts about rei clarity

Be motivated by today's episode as Jeremy Goodrich talks about the role of insurance in real estate investing and the value of risk management. Tune in to be informed on the top marketing strategy, behind the scenes of being a service provider, and why you should have multiple income streams. So, start listening now and be financially free!KEY TAKEAWAYSThe two aspects of real estate investing that you need to excelWhy investors should also think about the communityA vital piece of advice on underwriting deals as a passive investor3 E's you must have to be a successful real estate investorHow to wisely approach the current condition of the real estate marketABOUT JEREMY GOODRICHJeremy is a Commercial Real Estate Insurance Advisor and is the owner and Chief Protection Officer of Shine Insurance Agency. His interest in entrepreneurship really started way back. Soon, he also loved educating and became an elementary school teacher guiding his students in subjects like Math, Science, Writing, and even hockey. Jeremy's passion for teaching and entrepreneurship laid the foundation for his current company and changed how people view insurance. He is the host of the REI Clarity podcast and the Top 1 most-watched independent insurance agency Youtube channel, Shine Insurance.CONNECT WITH JEREMYWebsite: Shine Insurance https://www.shineinsurance.com/Podcast: REI Clarity https://reiclarity.com/Youtube: Shine Insurance https://www.youtube.com/channel/UCGO-atb8JOo7usmRuVzG-BATo find out more about partnering or investing in a multifamily deal, schedule a call here: https://calendly.com/threekeysinvestments/get-acquainted-call Visit ThreeKeysInvestments.com to download a free e-book “Why Invest in Apartments”!Please RSS: Review, Subscribe, Share!Support the show (and my reading addiction)!https://www.buymeacoffee.com/AskMeHowIKnow

Jeremy Goodrich is a passive investor in the alternative investment space and he has helped many commercial real estate investors manage risk and get clarity about their strategy. He is the owner of Shine Insurance, he's also the host of the REI Clarity podcast, and he is here to help us learn more about lowering risks as a passive investor. Key Talking Points of the Episode [01:48] Listen to Simple Passive Cashflow! [02:31] Who is Jeremy Goodrich? [03:20] What is Jeremy's background? [04:11] How did Jeremy get involved in real estate? [05:15] What is the biggest factor in calculating investment risks? [06:08] What is the biggest risk when you invest passively? [07:29] How can someone determine the red flags? [08:31] How do you find the right operators to work with? [10:09] Why is it important to know how operators treat their tenants? [12:29] What else can people do to vet out a deal or operator? [14:03] How can you evaluate deals based on the fees they're charging? [16:45] Is it a good idea to enter a deal that banks on appreciation? [17:49] What is Jeremy's advice to those who are interested in passive investing? [18:51] Where can you find Jeremy? Quotables “I really tried to never lose the teacher. Just like, how can I educate about whatever it is we're working on and early on in my insurance journey, I really focused on real estate.” “I started helping first-time home buyers, not just with the insurance piece, but with the entire home buying process.” “I'm sure your listeners have heard on this show many times that it is all about the operator when you're looking to invest passively in commercial real estate.”

Today, we have a huge surprise for you! The REI Clarity show is transforming into the Managing Commercial Real Estate Risk podcast. We're shifting our focus to managing CRE risk and learning how to take bigger risks successfully. Join us on this new journey! Learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk! “Being able to take risks is the key to success, we have to take risks.” Over the course of the last two years, we interviewed some of the best real estate investors out there and gained information on how to take the leap from part-time investing to full-time investing. Outside of the podcast, as an insurance advisor, Jeremy is also talking with hundreds of clients about the hardships they're facing in their work.   During that time, we've heard a recurring theme throughout every conversation - RISK.   Understanding risk is the key to unleashing the profits of a commercial real estate deal and ultimately creating a successful commercial real estate portfolio. We want to pivot this show to speak directly to that. We're saying goodbye to the name, REI Clarity, and moving on to the Managing Commercial Real Estate Risk podcast.   Jeremy's going to be interviewing asset managers and seasoned investors, asking them specifically about the risks they take and how they find success while managing and mitigating those risks.   We're super excited about this shift as we feel like it moves us closer to where our knowledge base is, where our understanding is, and where we can provide true insight for you.    We want to help you to elevate your game and unleash your profits by managing the risks you take.    Can't wait to go on this journey with you. It's going to be an exciting one! We'll see you in the next episode. Mentioned in the show: Shineinsurance.com www.shineinsurance.com/managing-commercial-real-estate-risk The REI Clarity Framework Learn how to manage the risk and unleash your profits the right way! Visit us here for everything you need to know: shineinsurance.com/managing-commercial-real-estate-risk.      If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the CRE Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Let's dig into passive real estate investing! Our guest is Matt Picheny, a real estate investor with thousands of doors and author of the best-selling book: Backstage Guide to Real Estate. In this episode, we talk about what to look out for in a sponsor, how to find the right market, and how to evaluate a good deal. If you want to be a passive investor and learn more about underwriting, then we guarantee that this episode will help you! Learn more about Matt and his journey at reiclarity.com! “You should invest in things that you know and love.”   03:03 Matt is an investor with a huge portfolio. He's passively invested in about 6000 doors and an active investor in 2300. According to him, real estate is relatively low risk with a potential of high reward. The key to mitigating the risk is to properly underwrite the property.   Matt believes that people should invest in things that they know. He was an actor for 5 years so he also invests in Broadway.  “Never put more than 5% of your net worth into any single deal.”   14:08 Matt wrote a book called Backstage Guide to Real Estate where he shares his tips and tricks on passively investing in real estate.   He explains the 3 key aspects of a deal that should be evaluated and underwritten.   The sponsor  Look into the sponsor's track record in real estate and business in general. If this is your first passive investing deal, then choose an experienced sponsor. Learn about the exit strategies. If there's only one, that can be a potential red flag. Be aware of the sponsor's involvement in the deal. You want them to be involved in the deal and not just raise money.    The market Location is key when it comes to a good deal. Find different submarkets within an area. Look for data about employment history, population growth, educational demographics, and household income in the 10, 5, and 1-mile radius of the property. Exit cap rate. Look for a higher cap rate when you're buying the property and a lower exit cap rate. A little shift in that cap rate can greatly affect the valuation of the property. Projected rent growth. Projected insurance. Projected taxes. The deal itselfThe main things to look out for in the deal: Mentioned in the show: www.picheny.com Matt Picheny - Backstage Guide to Real Estate His LinkedIn www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Matt Picheny for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Today we're talking with an investor who is at the top of his game. Our guest is Ryan Webster, the founder of Equity Yield Group, which has $250M in assets under management. In this episode, we talk about how to transition from the development side to managing existing properties, the key fundamentals of finding a good deal, and how institutional money works. If you're looking to acquire stabilized assets and grow your portfolio significantly, then tune in to our conversation!  Learn more about Ryan and his journey at reiclarity.com! “There's a lot of inherent execution risk and market cyclical risk on the development side and I wanted to mitigate that.”   02:31 Ryan started on the construction side of real estate and had a construction development company. Over the years, he moved around within the industry and finally landed on the acquisition of stabilized assets.   Ryan talks about the difference between being on the development side and being an asset manager. Development has a significantly higher risk factor but it can have a better return. Stabilized assets are more predictable and reliable with a smaller potential return. The tax benefits are better with stabilized assets.  “I think it's important to focus on the fundamentals of business and real estate investing and not just buying things because cap rates are compressing and the market is going crazy right now.”   8:52 Ryan's company is acquiring 100+ doors in the large multifamily space. He finds investors through syndication and his investors range from retail to institutional investors.   Ryan shares his key fundamentals when looking for a deal: Stable population growth. Diverse and growing job market. Areas with not a lot of land to avoid new development. “Real estate is a great asset class - it's always been a very low-risk stable investment and one of the greatest wealth builders over time that comes with maximum tax benefits.”   21:06 Ryan talks about the exit piece in his business plan. He always plans a 5-year hold with his properties. The actual exit is determined by the market conditions and asset performance.    A long-term hold is not always possible with institutional investors as they usually have some control over the exit terms. Mentioned in the show: https://equityyieldgroup.com/ His LinkedIn www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Ryan Webster for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Tim Vest, a multifamily investor with over 100 doors and the founder of Harvest Properties Group. In this episode, we talk about Tim's investing journey, how to build your multifamily portfolio, and different strategies to succeed in the industry. If you're planning to take the leap from single-family to multifamily investing, then this episode is a must for you! Learn more about Tim Vest and his journey at reiclarity.com! “I saw the power of real estate and the effect it had on my money, and that just got me going.”   02:26 Tim was always entrepreneurial. After graduating college, he started working in the tech industry. Soon, he got interested in real estate investing and jumped into land development around 2006. Ever since, real estate investing has been Tim's wealth strategy.    Tim is doing angel and crypto investing, but real estate is his primary source of income. For him, it's the safest investment because it builds cash flow today but can also create generational wealth. “There's a million ways to get a deal done. And in every one of those scenarios, there's a way to participate.“   13:19 Tim is still working in a tech company but he's planning to leave this W2 job in a few months. Even though he makes a good income, he rarely uses his own capital for his deals.    He‘s involved in syndications and JV deals. According to him, there are many ways someone can participate in a deal. Sometimes it's bringing the money, but sometimes it's finding the deal or bringing sweat equity. “I'm not saying capital is not important but right now there's a huge premium on good deals.”   21:59 Tim is in the multifamily space. He talks about his experience with the industry in recent years. According to him, the focus has shifted from finding the capital to finding the deal.    Tim's advice on how to find good deals: Have a good relationship with smaller brokers. Don't get into deals where the seller asks for hard earnest money. However, if the deal makes sense, build in a 30-day period or more before the deposit goes hard. Build a good relationship with your service team, like your property managers, insurance advisor, and accountants, as they can help you with your next deals. Underwrite deals very conservatively. Mentioned in the show: https://harvestpg.com/ His LinkedIn www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Tim Vest for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Curtis May, wealth advisor and the owner of Practical Wealth Advisors LLC. Today, we continue the financial advice from last week and dig into personal finance. We talk about how to build smart financial foundations, the 5 pieces of a good financial plan, and the rules of successful investing. Join us and elevate your personal finances! Learn more about Curtis May and his journey at reiclarity.com! “The financial plan precedes the business plan or the investment plan.”   03:08 Curtis was always entrepreneurial. After reading Rich Dad, Poor Dad, he got very interested in finance and became a wealth advisor about 10 years ago.   Curtis is helping people understand the difference between the accumulation of money and the velocity of money. According to him, many people accumulate funds through 401(k)s, IRAs, or mutual funds that only make a little return on investment. The risks are that there are too many moving parts, like a fluctuating market, government regulations, taxes, and depreciation. Curtis's advice is to invest in real estate and create velocity. “You can't get homeowners insurance if your house is on fire, right? You can't set up a corporation trying to move your stuff around. You have to do it while you don't have anything going on.”   14:52 Curtis shares the 5 principles of personal finance to create velocity and eventually financial freedom. Savings. Have safe, liquid, accessible, and guaranteed funds, generally around 15-20% of your gross income. Maximum protection. Use insurance, LLCs, and estate planning to protect your assets. Legacy of wisdom and wealth. Have a well-planned life insurance plan to protect your legacy.  Liquidity. Have 3 months of income available on your bank account to be able to access it quickly. Velocity. Plan out different investment strategies to create more cash flow.   You can grow all these different areas at the same time. One strategy that Curtis is teaching is infinite banking. “Banking principles drive strategy and strategy drives tactics.”   30:35 Curtis talks about the 3 rules of investing. Invest in your number one asset, yourself. Work on your expertise, your mindset, and your skillset. Invest in something you can influence the outcome of and that will cash flow. Entrepreneurs solve problems for others. Don't chase returns. Mentioned in the show: practicalwealthadvisors.com The Practical Wealth Show Text “Be the bank” to 55444 to subscribe to the Practical Wealth Advisors newsletter His LinkedIn www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Curtis May for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Let's talk about cash flow today. Our guest is Chris Miles, cashflow expert, “anti-financial advisor”, and the founder of Money Ripples. In our conversation, we talk about how to analyze investments, the relationship between cash flow and appreciation, and how to make sure that cash flow is king - as we all know. Whether you're an active or a passive investor, this episode will help you assess your cash flow better. Learn more about Chris and his journey at reiclarity.com! “The next thing I know, I went from a millionaire to an upside-down millionaire in 2008. I actually ended up being over a million dollars in debt.”   03:29 Chris started his career as a financial advisor, but he learned that the traditional way of advising people about their finances just didn't make sense for him. So he pivoted to real estate investing in 2006.    Soon, Chris became a very successful investor. His strategy was appreciation play so he acquired many higher-priced properties, waiting for them to appreciate. However, during the 2008 financial crisis, he lost almost all his investments and ended up being over a million dollars in debt. This taught him a lot of lessons. The two most important were to not count solely on the appreciation of a property and to track his money. “One of the worst things I did was locking up my equity in my house when I could have kept that money in cash reserves.”   13:26 Chris started a company that provides financial advice, Money Ripples, in 2012, using the lessons he has learned during his real estate career. He shares a few tips on how to create more cash flow. Get your money out of “prison”. Get out of the equity of your home, the stock market, and especially 401(k)s and IRAs. Invest in real estate, as that is one of the safest true assets that not only give you great tax breaks but massive cash flow as well. Be diversified to a degree, but make sure you're still able to manage your investments. Don't be overly diversified.   Chris talks about unconventional ways to invest. One of these is investing in life insurance. If the whole life policy is set up correctly, it not only has the common death benefit but also acts as a kind of bank account. It generates around 3-5% interest, it's not getting taxed, and you can borrow from it.   Chris' advice is to have a limited amount of equity in your properties and use that cash instead to purchase more and grow your asset base. Low-risk equity is better than high-risk cash flow. “Don't make one-year, two-year, three-year goals. Just focus on the next step, that's all you need to know.”   31:36 At the end of the episode, Chris picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Forecast Your Future”.   According to Chirs, the biggest problem people have is that they don't really understand where they're going in life. You have to be clear about the direction you're headed so you can always plan the next step. Mentioned in the show: https://moneyripples.com/ The Chris Miles Money Show His LinkedIn www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Chris Miles for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Jacob Vanderslice, a real estate developer and investor with a diverse portfolio. In this conversation, we dive deep into succeeding in closing. We talk about the different ways to fund your deals, the benefits of self-storage investing, and what it's like to connect with institutional investors. Don't miss out on this episode! Learn more about Jacob and his journey at reiclarity.com! “We're not seeing appraisal misses on the self-storage front.”   05:17 At the beginning of our conversation, Jacob explains the basics of a commercial real estate transaction and the closing process that he follows.  Underwriting. Submitting the letter of intent to the seller. Executing the contract. Depositing the earnest money (typically between $50k to $500k). Due diligence and ordering a variety of third-party reports about the property.   The appraisal is a very important part of the closing process. An appraisal is designed for lenders to get third-party validation on the value of the property.  “We think the definition of wealth is durable, recurring revenue that gives you an above-market yield.”   11:22 Jacob has a very diverse portfolio and a big part of it is self-storage. According to him, self-storage has historically been very resistant to recessions and downturns and the revenue stream is very granular and dynamic. His company got into this asset class in 2015 and has only sold 1 out of their 35 self-storage facilities due to the steady cash flow. “Raising capital is all about creating credibility. You're not pitching or asking for money, you're educating someone on the asset class.”    22:10 Jacob explains the difference between a syndication and a fund. Syndication is getting into one single deal, while funds are investing in a collection of assets. Syndications tend to be a bit more flexible.   Jacob likes the fund system and he has self-storage funds. Their first fund was just $10M and their most recent one was around $40M. This is a small amount compared to when institutional investors are involved, as those funds can be around $300M. Mentioned in the show: https://www.vanwestpartners.com/ His LinkedIn www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Jacob Vanderslice for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Shannon Robnett, a real estate developer and syndicator with over 35 years of experience. In this episode, we talk about the future of commercial real estate. Shannon shares his investing journey, how to adjust to changes in the industry, and why tokenization might be the next big thing in REI.  Start 2022 right and plan out your next steps with the help of this conversation! Learn more about Shannon and his journey at reiclarity.com! “Solving your own problem is a very very smart thing to do because you need to be able to take care of that instance when something doesn't go right.”   03:26 Shannon is a fourth-generation realtor. For a while, he didn't want to work in the industry, but after college, he realized how lucrative real estate was. In his 35-year real estate journey, Shannon has done construction projects, worked as a developer and multifamily asset manager, and invested in many deals.   Over the years, Shannon learned the importance of understanding every part of real estate investing, the benefit of building a team, and paying people more for the additional value. “Tokenization creates a liquidity in that marketplace that I think the world is really craving.”   12:28 Shannon has invested in the Boise, Idaho market for most of his career. In 2020, Boise was noted as the least affordable market in North America. This made Shannon change his strategy and he's now venturing out to other states and more industrial types of deals.   Shannon is building a tokenization platform for real estate which is utilizing blockchain technology. Tokenizing real estate has many advantages including increased efficiency, liquidity, and diversification. “You can call it “forecasting your future” but I call it building your processes that keep you out of trouble.”   36:50 At the end of the episode, Shannon picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Forecast Your Future”.   According to Shannon, the more systems and processes you have in place to take out the variables, the better you can forecast your future. Focus on building solid processes and follow them step by step. Mentioned in the show: shannonrobnett.com https://www.myverticalequity.com/ His LinkedIn www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Shannon Robnett for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Susanne Mariga, a CPA, tax coach, chartered global management accountant and certified Profit First accountant. Today, we dive deep into entrepreneurship and the processes that you have to employ around keeping your money. Susanne gives us a clinic on how to keep your money with a method called “Profit First”, how much money you should spend on owners' pay, and why you need to create the “illusion of scarcity” in your business. Learn more about Susanne and her journey at reiclarity.com! “Profit has to be intentional, the bottom lines have to be engineered before you even start your business.”   03:47 Susanne started working in her father's CPA firm as a bookkeeper at age 14. She fell in love with the financial world and went on to become a certified public accountant and Profit First accountant.   Susanne shares the Profit First method that she uses in her business and coaches other business owners. Profit First is a cash management system, not an accounting system. It's designed to force intentional profitability and intentional owners' pay.   How the Profit First method works: As humans, the more we have, the more resources we're going to use. That is why profit has to be intentional and accounted for in the business. The first step is to figure out how much money you want to make and then re-engineer your strategy backward. You have to create the “illusion of scarcity” by creating different bank accounts inside the business. These bank accounts are for the revenue, profit, owners' pay, tax obligation, and operating expenses. Only use the operating expenses bank account for your expenses to avoid overspending.   For a healthy small company with under $250k revenue, around 70% of the revenue should go to owners' pay and 30% for operating expenses. By the time the company reaches about $10M revenue, only 35% should go towards the owner. “Minority business owners, even the ones that make 6-7 figures in gross revenue oftentimes do not even take home $100k.”   24:31 Susanne is very passionate about helping minority entrepreneurs succeed in their businesses. She recently wrote a book to help and educate them called Profit First for Minority Business Enterprises.   Susanne wants to empower business owners not only in the US but worldwide. That is why $1 for every book that is sold is going towards a scholarship for sending girls to school in Zimbabwe. Within the first 30 days of launching her book, she funded 22 scholarships. “The reality is that growth only happens intentionally.”   41:27 At the end of the episode, Susanne picks an action step from the REI Clarity Framework that is the most valuable to her. This is “Find the Money”.   According to Susanne, finding the money for investing starts with your purpose. Define what winning looks like for you and what your end goal is. Then work backward and budget for the things that are important for you.  Mentioned in the show: https://susannemariga.com/ Susanne Mariga - Profit First for Minority Business Enterprises Profit First Masterclass Her LinkedIn www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Susanne Mariga for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Josh McCallen, a capital syndicator, hospitality investor, and conference speaker. We had a great conversation with Josh last year and now he's returning with even more wisdom. In this episode, we dig deep into hospitality. We learn about how to build the foundation of your REI strategy so you can succeed through hard times, taking care of people in your business while staying profitable, and thinking outside the box when it comes to real estate investing. Learn more about Josh and his journey at reiclarity.com! “Here's the deal - none of us caused COVID but we all had to make a choice how to deal with it.”   03:01 Josh and his wife, Melanie, purchased Renault Winery and Resort with a group of investors at the end of 2018. In our last conversation with Josh, we talked about the struggles of COVID in hospitality and how they planned to overcome them. Now, around a year later, they made it through the pandemic successfully and their resort is fully booked until 2023.    Josh made many profitable changes in his resorts during the pandemic. By the end of 2020, they made $2M additional revenue and they continue to grow. “We try very hard to build good teams, that's pretty much my calling in life is to build teams.”   15:45 Josh talks about his investment strategy around Renault. At the end of 2018, their plan was to modestly update the property and sell 100 weddings a year. However, in their first year, they sold 250 weddings. This prompted them to update the property even more.   Renault has around 350 investors. They raised $20M+ in the last 2-3 years. Josh and his team are still taking on new investors for their projects. “The fact that we are not perfect creatures is not the reason why we should quit trying to seek the good.”   31:25 Josh describes the Why behind his business. He wants to revive the souls of their properties, team, and guests.   The 3 virtues that Josh lives by and runs Renault. Joy. Josh only employs people who are passionate about hospitality and find joy in giving back. Humility. This means seeking humility in every work situation. Ministry. Doing simple tasks for a spiritual reason and making people feel loved. Mentioned in the show: http://accountableequity.com/ https://www.renaultwinery.com/ Capital Hacking Podcast https://www.vivamee.com/ His LinkedIn  www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Josh McCallen for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Jason Mittman, a commercial real estate investor with over 30 years of experience. In this insightful episode, we learn about how Jason started investing, how to overcome risks, and how to rise by lifting others. If you want to build a real estate portfolio that you can be proud of, not only from a financial perspective but also from a community perspective, then this episode is for you! Learn more about Jason and his journey at reiclarity.com! “I think one of the keys to commercial real estate investment success is what problems can you solve.”   02:32 Jason has always been adventurous. He was a semi-pro adventure racer, a mountain bike racer, and a mountain climber. When he decided 33 years ago to build a career in commercial real estate, he wanted a name that represented his values in both his business and personal life. That is why he named his company Only Epic Holdings.   According to Jason, he never gets bored with the industry because he loves the people he works with and loves solving problems. “If the deal is good enough people will invest with you. If you don't have experience but the deal is strong, they're protected well enough. There's always a way.”   09:58 Jason has become an educator over the years. One of his principles is learning how to say no. Investors often feel that they have to do everything by themselves and say yes to every opportunity. However, our time is limited and we have to learn to say no to things that don't serve us.   Jason's company has a portfolio in 3 states with industrial, self-storage, retail, and medical offices. They're currently selling all their multifamily properties, as they see better opportunities in CRE. “Overcoming risk is overcoming your fear and going through tremendous hardships and scary times in order to get a tremendous reward.”   31:46 At the end of the episode, Jason picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Take the Risk”.   Jason gives a great example of taking the risk from mountain climbing. Everyone can make it if they choose to keep going during adversity. Learn from your adversity and you can manage the risk. Mentioned in the show: www.onlyepic.com His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Jason Mittman for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Clint Coons, attorney, real estate investor, speaker, and author. In this conversation, we talk about the 3 pillars of successful investing. We learn about how to protect your assets, how to minimize your taxes, and how to plan your business thoughtfully. If you're ready to take the leap and triumph in real estate investing, then this episode is for you! Learn more about Clint and his journey at reiclarity.com! “Real estate investors have to understand that there are more ways to make money than just that one little slice that they've convinced themselves.”   03:09 Clint's father was a single-family real estate investor and he learned the basics of the industry from him. Clint wanted to do real estate investing to have passive income and eventually reach financial freedom.   According to Clint, one of the biggest mistakes that investors are making is overanalyzing deals. The best way to combat that is to make sure you have multiple exit strategies. “You need to appreciate the risk, and then put together a structure or plan that is going to mitigate that.”   10:42 Clint shares his 3 principles about successful business planning. Asset protection. Appreciate the risk and prepare for it. Have the right insurance policy and know what's covered in your policy and what's excluded. Tax planning.Don't focus only on reducing your tax burden. Not paying federal income tax limits the amount of money you can borrow and the loans you can get long-term. He explains the importance of forming the right entity and why having a C Corp is better than an S Corp. Long-term business planning. Educate yourself and find a mentor who understands your goals. When an opportunity presents itself, don't just think about what it's going to cost you but what it's going to do for you.   Clint explains that a common mistake that investors make is that they only focus on one or two of these principles. “Find those people that are doing what you're doing, but they're doing it better.”   43:40 At the end of the episode, Clint picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Build a Team”.   Building his team was the most important aspect of Clint's success in business. He explains that there is high-value and low-value work, and people are often trapped with low-value tasks. It's important to be able to outsource these tasks and focus on high-value work. Mentioned in the show: https://andersonadvisors.com/ His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Clint Coons for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

We have an exciting conversation for you today! Our guest is A. Donahue Baker, a real estate developer and investor. In this episode, we talk about the 6 steps to build generational wealth, how to make smart money decisions, and a new way to get funding for your real estate deals. Join us and start building generational wealth today! Learn more about A. Donahue and his journey at reiclarity.com! “I just wanted to do one deal a year. The idea was, I would always make more money this year than I did the previous year. And I've done that for about 20 years now.”   03:09 Donahue grew up in a middle-class family and he was always very entrepreneurial. He found multifamily real estate investing by accident and realized that it was his true passion.   Donahue's advice when it comes to becoming successful in real estate investing is to always have a clear, specific goal. From that, you can work your way backward and break up the process into bite-sized pieces. “In this country, in order to build wealth, you need to have access to capital. And that goes hand in hand with debt.”   14:33 Donahue shares his 6 steps to generational wealth creation.   “The basement”. Over 70% of Americans are living paycheck to paycheck. The focus on this level should be to get out of debt. Level 1. Focus on earning at least $100k a year. In A. Donahue's experience, that is the amount of money that provides financial security and a good foundation to create true wealth over time. Level 2. The number 1 expense in most people's life is their rent or mortgage payment. If you can create a “rent-free” lifestyle through house-hacking then you can save up a lot of money fast. Level 3. Bring your personal credit score to 720 and lock it. Then separate your personal and business life by creating an LLC and start to live exclusively through your business. Level 4. Acquire $1M in good debt. This means mortgages that pay for themselves by your tenants. Level 5. Over time this $1M turns into equity. As the final step, you need to structure how you can pass this wealth on to your children or heirs. You can set up trusts and life insurance.   Donahue started a bank, Money Avenue, where he plans to reform the banking system. They help investors to fund their deals. As opposed to syndication, the debt comes from a banking structure and the down payment comes from the JV. “Each deal has its significance. It's not all about the money, some deals are just going to be your resume builder.“   36:35 At the end of the episode, A. Donahue picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Forecast Your Future”.   Donahue's advice when you're thinking about acquisitions, is to start working on your next deal while you're closing the current one. It's important to plan ahead and have a strategy for your upcoming deals. Mentioned in the show: https://adonahuebaker.com/ https://preview.moneyave.com/wp/ His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to A. Donahue Baker for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Dan Handford, multifamily real estate investor and educator. Dan's team is picking up multifamily properties at a pace that is almost unbelievable, buying multiple $80M-$90M properties in any given year. In this episode, we discuss how to structure your team and deals, how to raise money, and how to have great relationships with your investors, brokers, and developers. Tune in and get inspired! Learn more about Dan and his journey at reiclarity.com! “Whenever you're trying to find someone to partner with, find somebody that complements your skill sets. You don't want to partner with someone that does the same thing that you do.”   03:02 Before investing in real estate, Dan had multiple non-surgical orthopedic medical clinics that he owned with his wife. They were very successful but Dan had to pay a lot of taxes on them. So he started researching how to reduce his taxes and stumbled upon real estate investing.   Dan started out as a passive investor. Soon he hired a mentor to shorten the learning curve and enaged in a few co-GP opportunities.   Around 4 years ago, Dan finally decided to get into real estate full-time. He started his company, PassiveInvesting.com, with 2 partners. The 3 main roles in the team are acquisition, underwriting, and investor relations. Dan is managing the investor relations piece. “Your reputation is definitely the number one thing as to why people try not to retrade as much.”   17:07 Dan's first deal was an $8.9M multifamily deal that he raised $2.5M for. He shares that his hardest deal was a $50M project at the beginning of the pandemic in March 2020. That was the only deal they had to retrade on, but in the end, they succeeded and raised $19M.    Dan doesn't recommend retrading often because it can damage your reputation in the industry. Reputation and good relationships are the most important factors for success in syndications.   Dan shares his predictions for the 2022 market. According to him, a lot is going to depend on the debt market. There is a lot of capital in the market right now that needs to be placed. In some of the primary markets, the cap rates will start to compress even below what they are now. He sees great potential in the higher-end secondary markets. “The biggest thing for us has been just providing as much value as possible and not holding back.”   41:13 At the end of the episode, Dan picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Grow Your Community”.   According to Dan, in order to attract an audience, you have to be able to provide value to them. His community, the Multifamily Investor Nation Group has 45k members and he tries to share as much information with their audience as possible. This creates trust and helps them to have more impact in the industry. Mentioned in the show: https://www.passiveinvesting.com/ https://www.multifamilyinvestornation.com/ His LinkedIn Robert B. Cialdini - Influence: The Psychology of Persuasion www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Dan Handford for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guests are Nick Earls and Eric DiNicola, the founders of Winterspring Capital, a multifamily investment and development firm. In this episode, we dig into the ins and outs of condo development. We break down the development process into 5 simple steps, talk about how to invest in big cities, and how to sell condos successfully. If you're interested in condo development, then join us in this conversation! Learn more about Nick and Eric and their journey at reiclarity.com! “Condominium development has been a really good pathway for us, and has allowed us to branch into long-term multifamily ownership.”   03:23 Nick and Eric have pursued many different real estate strategies during their career. They're involved in condo development, multifamily, buy and holds, and flips around the Boston, Massachusetts area.    They started their real estate journey with condo development. They initially wanted to buy rentals, but saw an opportunity in their local market for condos and have been using this strategy ever since. “Marketing is key because the speed of sale is the biggest focus at the end to eliminate stress.”   11:05 Nick and Eric share the 5 main steps of condo development.   Tieing up the land.You should only purchase the land if you're confident that you can get it permitted. Zoning and planning.Work in tandem with the community and respect their insights. Your team is very important in the zoning process. Have a good zoning attorney and work with an architect who can make the property blend in with the environment. The building process.Currently, labor is very expensive and supply chain pressures have driven up the price of materials. That this into account when you analyze a deal. Breaking the property out into condos.In many cases, selling condos individually as rentals is more profitable than selling the whole property. However, it's riskier as it's harder to get lending. Selling the property.Focus on marketing from the start of the construction. This way you can get the units under agreement ahead of time. “Real estate is worth the risk. And it's not as big of a risk as some people think.”   45:37 At the end of the episode, Nick and Eric pick action steps from the REI Clarity Framework that are the most valuable to them. These are “Take the Risk” and “Know Your Strategy”.   At the beginning of their real estate journey, Nick and Eric often got into analysis paralysis. However, as they progressed through their careers, they realized that real estate is one of the safest investment asset classes. If you're confident in what you know, then take the risk. Worst case scenario is that you have to sell the property.  Mentioned in the show: https://winterspringcapital.com/ https://winterspringcapital.com/development-book Nick's LinkedIn Eric's LinkedIn Their Instagram www.reiclarity.com www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Nick Earls and Eric DiNicola for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Melanie McDaniel, a real estate investor, capital raiser, and founder of Freestyle Capital Group. In this episode, we dive deep into gaining clarity on your investment journey. We talk about how to reach success fast, how to create a fund, and how to establish your mentors. Tune in and elevate your real estate journey to the next level. Learn more about Melanie and her journey at reiclarity.com! “The concept of trading your time for money versus owning a business and having your money making money was mind-blowing for me.”   05:54 Melanie was a park ranger for 9 years. In 2015, she read Rich Dad, Poor Dad and decided to move into real estate. She finished the Rich Dad, Poor Dad training program and became a real estate agent.   After 2 years, Melanie realized that her biggest passion was commercial real estate. She attended conferences, completed coaching programs, and focused on her education and eventually bought her first 24-unit.   Freedom of movement and freedom of time are very important for Melanie as she travels a lot. She can make these happen through commercial real estate. “Clarity and staying in your lane are so important because if you try to do things that you don't love or you're not good at, you're going to be miserable.”   17:47 Melanie shares her investment strategy. She's mostly in the value-add multifamily space, but invests in other secure asset classes like warehouses or industrial.   Melanie's strength is in capital raising, so she only focuses on that area of real estate. However, finding a good sponsor for her deals is crucial. She looks for experience, morals and values, and reputation in a sponsor. She finds her sponsors through referrals.    Staying in her lane of expertise and finding partners who have the skills she doesn't have has been the foundation of her success. However, she suggests still being open-minded if you need to pivot.   Melanie is in the process of starting a real estate fund and transitioning into a fund manager role. Her fund will be a hybrid model between a blind fund and a single syndication. “If you want to make a huge difference or you hit a plateau in your progress, then that's the time to consider a mentor or a coach.”   45:32 At the end of the episode, Melanie picks action steps from the REI Clarity Framework that are the most valuable to her. These are “Establish Your Mentors” and “Grow Your Community”.   Melanie explains that even though real estate investors should educate themselves as much as possible, they should also look into working with a mentor or a coach. Mentors can help elevate your business to the next level. It's also important to find a suitable mentor as you grow or change lanes in your career. Mentioned in the show: https://www.freestylecapitalgroup.com/ Her LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Melanie McDaniel for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Nicole Gauthier, a real estate investor who is passionate about community growth and social change. In this episode, we talk about social impact investing, the benefits of investing in opportunity zones, and how to rise by lifting others. If social change and community growth are an important part of your investment strategy, then this episode is definitely for you! Learn more about Nicole and her journey at reiclarity.com! “Opportunity zones are neighborhoods where the city is targeting a lot of infrastructure and growth to try to empower those that are in that community.”   01:12 Nicole started real estate investing about 1.5 years ago, after doing market research in inner-city Houston. She saw that a specific neighborhood in an opportunity zone undergoing gentrification and she wanted to help prevent the residents from getting displaced. She purchased an empty lot near 2 universities in Houston and her plan is to eventually create an affordable student housing complex on it.   Nicole founded her company, Wicked Holdings, in January of this year. She's already completed rehabs on a few rental projects and she's currently working on a multifamily property in a nearby opportunity zone. “If you stick to the numbers and you can show that, then investors are willing to work with you.”   10:01 Nicole believes that if you buy right and stick to your metrics, then you can reap the best returns and advantages for your investors. Her specific formula is to stick to 70% or less of the After Repair Value when purchasing.   Nicole's way of fighting gentrification is by doing new construction. This way no one has to be displaced as she is adding more homes to the community.   When looking at a multifamily deal, Nicole is focusing on 3 key metrics within the area - increasing income, decreasing unemployment, and population growth. “We have the choice to make changes in our tenants' lives. And you can still be profitable and reap some really great returns for your investors. “   31:58 At the end of the episode, Nicole picks an action step from the REI Clarity Framework that is the most valuable to her. This is “Rise by Lifting Others”.   According to Nicole, when you're investing in a growing community, especially if it's a gentrification type of situation where things are changing fast for that community, focus on the people. Engage with the community and ask the tenants what improvements they would like to see. Mentioned in the show: https://www.wicked-holdings.com/ Her LinkedIn Her Instagram www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Nicole Gauthier for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guests are Suzy Sevier and Michael Barnhart, an investor couple who, against all odds, went from 0 to 400 doors in just 2 short years. In this episode, we talk about how they invest entirely long-distance, how to build the right systems and processes, and how to take intelligent risks. If you want to grow your multifamily investing business fast, then this conversation is for you! Learn more about Suzy and Michael and their journey at reiclarity.com! “Once we found out that the entire world of real estate had gone online because of the pandemic, we knew that that was our opportunity.”   02:40 Suzy and Michael were professional athletes until the pandemic hit. Due to the lockdown, they started reading real estate books and got interested in investing. Even though they lived in the UK, they decided to invest in multifamily in Tulsa and Oklahoma City, Oklahoma. In less than 2 years, they acquired 400 doors.   Suzy and Michael share the steps they took to become successful investors. They started networking and became an active member in as many virtual real estate investor groups as possible. They attended over 10 virtual conferences. Later, they reached out to every attendee on LinkedIn. They established a strong social media presence and were actively creating content to get in front of people in the industry. They found a mentor who understood the market they were trying to get in. They got clear in their investment thesis and the markets they wanted to invest in and shared it with everyone. “This whole business is about relationships. People want to be seen, heard, and understood. So if you want to create relationships with the brokers, you have to treat them like people.”   18:13 Suzy and Michael talk about how they invested in their first 88-unit multifamily in Tulsa, Oklahoma.  They reached out to every broker on Loopnet and Crexi who had more than one listings in their preferred market. They put together a cover letter with all their information, including their mentor and their team. Lastly, they called all the brokers and started building relationships.   Suzy and Michael focus on, what they call the greatest ROI. It means return on impact rather than return on investment. They try to have an impact on their tenants' lives but also help their investors.   As a result of their successful investing strategy, Suzy was able to leave her W2 job this year as she fully replaced her job income.   “We like to be the strategic visionaries of our company.”   41:24 At the end of the episode, Suzy and Michael pick action steps from the REI Clarity Framework that are the most valuable to them. These are “Build Your Team” and “Take the Risk”.   For Suzy and Michael, taking the risk means resisting the norms and pushing the boundaries. Even though they always heard to “invest in their backyard”, they resisted and invested outside the UK. This eventually gave them more time freedom as they didn't have to be on the property physically. This also prompted out-of-the-box thinking and pushing their boundaries. Mentioned in the show: https://adventurousrei.com/info The Adventures of a Real Estate Investor Podcast Suzy's LinkedIn Michael's LinkedIn Robert Allen - Multiple Streams of Income www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Suzy Sevier and Michael Barnhart for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Seth Bradley, a commercial real estate investor and legal advisor. Buckle up because today we dig deep into the legalities of real estate investing. We first discuss the things you should do as an investor to make sure you're covered from a legal standpoint. Then we talk from the perspective of a limited partner and a syndicator in a CRE syndication deal. Tune in to understand the legal side of real estate investing a bit more.  Learn more about Seth and his journey at reiclarity.com! “I house hacked into a duplex within the first couple of months of getting my first paycheck at a big law firm.“   03:31 Seth went to law school and started his career in a law firm. However, he always knew he wanted to invest in real estate and live a more balanced life.   He did a house hack first and soon started buying single-family houses, duplexes, quads, and even flipped and wholesaled a few properties. After 6 years, Seth was finally able to leave his W2 job and get into real estate investing full-time. “If you can't talk to your partner about the partnership agreement right at the beginning, then you probably shouldn't be going into business with them.”   13:41 Seth explains the first few legal steps that new real estate investors should be thinking about as they move into the investing world. Asset protection. Have a basic asset protection structure set up from the very beginning and grow from there.  Partnership agreement. At the beginning of their investing journeys, many people partner up with friends. To avoid future conflicts, you have to have a partnership agreement or LLC agreement in place from the very beginning.   According to Seth, the best way to find a lawyer for these agreements is to get a referral.   In the second half of the episode, Seth talks about the role of a limited partner investor in a commercial deal. He explains how to structure the operating agreement or limited partnership agreement correctly and what to look out for in a syndication from a legal standpoint.  “Set up your strategy with the end goal in mind.”   42:31 At the end of the episode, Seth picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Know Your Strategy”.   Seth's recommendation for a well-thought-out strategy is to have the exit in mind from the beginning. If you work backwards from your end goal, then you can create a better strategy for your business. Mentioned in the show: www.attorneybydesign.com Passive Income Attorney Podcast His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Seth Bradley for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Cody Bjugan, a real estate investor, land acquisition, and front-end development expert. In this episode, we dig deep into land acquisition and development. We guarantee that after listening to our conversation, you'll have a much better understanding of the 4 phases of development deals, land acquisition, and how zoning and approving works.  Learn more about Cody and his journey at reiclarity.com! “Off-market to me is where the magic sauce begins.“   04:37 Over the last 20 years, Cody has been involved in 30 different development projects. Over 2000 units and around $920M worth of real estate have moved through his system.   His best piece of advice for success is to always look for off-market deals. His company has a criteria for off-market deals and creates a database of all the vacant parcels and raw land based on it. They send out mail, do cold calls, and work with a title company to help them find more off-market deals.    Cody never competes with “highest and best” offers, he educates the brokers instead and builds trust with them. “Whoever controls the dirt, controls the deal, period. So if you go find the dirt, you call the shots.”   23:30 Cody is an expert in land acquisition. According to him, it is one of the easiest ways to get into the development world because the barrier to entry is lower than in other areas.    Cody talks about the 4 crucial steps in any kind of development. Land acquisition. Picking up the land itself. Development. The process of making sure the zoning is correct and getting all the approvals.  Construction. Management.   Cody explains that you shouldn't close on the land prior to approvals. The only exception is if you're buying it at its as-is value. You should control the land and not own it because you have more opportunities that way. “You want to become the best you can be at one strategy.”   44:51 At the end of the episode, Cody picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Know Your Strategy”.   There are many strategies. According to Cody, at some point, you have to pick one and commit to it. Don't compare yourself to anyone, just try to be the best in your own strategy. Mentioned in the show: vestright.com vestright.com/rei His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Cody Bjugan for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Ben Kogut, a real estate broker and capital raising specialist with a focus on commercial real estate. In this conversation, we talk about what it means to be a passive investor in commercial real estate and how to find CRE deals, make offers, and succeed as an active investor. If you're interested in investing in office, triple net, or strip malls in particular, then this episode is for you! Learn more about Ben and his journey at reiclarity.com! “Our mission is first and foremost to protect and then grow our investor capital.”   04:20 Ben is a commercial real estate broker in Austin, Texas. He focuses on office, retail spaces and triple net properties.   For a new investor, Ben recommends investing in triple net properties. Triple net is the acronym for “net, net, net”, the net of the taxes, the insurance, and the maintenance of the property. The tenants are responsible for these expenses.    Ben compares multifamily and commercial real estate in the current market. With apartment complexes, tenants usually sign 12-18 month leases. Retail and industrial leases are more complicated, however, they are more stable. Currently, the profitability of multifamily deals is fairly low. The cap rates are better on office and retail properties. “Timing is everything.”   21:19 Ben's company has a large funnel and is looking at 800-1500 deals every week. They're looking for high credit tenants, long-term leases, and deals that come on the market with around a 7.5 or 8 cap rate. They do around 16 offers a week and on average put 1 under contract.   Ben shares his best practices on how to win a deal. Send the offer within 24 hours after the property comes on the market. Send a long list of references along with the offer. Promise the seller that within 2 weeks of being under contract, you will physically be on site. Always do what you say you're going to do.   Ben wrote a book recently called The Five Things to Consider when Investing in a Commercial Real Estate Syndication. In the book, he describes the 4 rules of cash. More cash is better than less cash. Cash sooner is better than cash later. In multifamily syndications, investors get their money at the final sale. CRE syndications pay a monthly dividend.  Less risky cash is better than risky cash. Never run out of cash. Make sure that you have reserves when you are involved in a commercial real estate project.  “ I knew that my one thing was commercial real estate.”   37:48 At the end of the episode, Ben picks action steps from the REI Clarity Framework that are the most valuable to him. These are “Know Your Strategy” and “Find the Money”.   Ben was really inspired by Gary W. Keller and Jay Papasan's book The ONE Thing. He learned how to simplify his life and find his true passion and mission that he can focus on. This reflects in his strategy as well. Mentioned in the show: hjhinvestments.com/book His LinkedIn Gary W. Keller and Jay Papasan - The ONE Thing www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Ben Kogut for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest is Jasmine Ortiz, a commercial broker who focuses on multifamily and mixed-use commercial real estate. In this episode, we talk about the 4 types of real estate buyers, how to become an impact investor, and how to be a leader in your community. If you're wondering how to enjoy tax benefits while also giving back to the community through investing, then this conversation will be very valuable for you! Learn more about Jasmine and her journey at reiclarity.com! “We're seeing many more buyers per seller right now in the current market even in commercial and residential.”   01:04 Jasmine is a commercial broker. She explains how the current seller's market has way more buyers than sellers. However, she encourages everyone to be persistent and keep looking for properties.   Jasmine's advice for the buyers is to look at contingencies carefully, be mindful of the price, and look at the timeline of the project. Research the city or town where the property is located and be flexible. “The secondary mid-sized cities are really key right now. A lot of people invest in them because they can really see appreciation in the next few years.”   11:43 Jasmine talks about the different types of buyers and the size of properties they're going for. Individuals who are early in their investing journey. They typically invest in 1-4 properties or small multifamilies. They're usually eligible for first-time loan mortgages and they don't have a long history of credit or loans. 1031 exchange investors. They have more investing experience and have 10-20 units. They're not ready to retire yet but building their portfolio towards it. These investors are more likely to invest in multiple asset classes. Developers and syndicators with 100-500 units. There's a lot of competition in this space right now. Corporate and institutional investors. They have 500+ units or even in 1000+ across the nation.   Jasmine's favorite investor group to work with are the impact investors and developers. These are the investors who want to be socially impactful and are looking for a deal that has diversity and inclusion. This can mean investing in retail and commercial spaces in communities that are disadvantaged or partnering with a non-profit in your development deal.    Recently, the federal government is encouraging impact investing. There are various opportunity zones where people can invest in these communities and also get tax benefits. “If you're an investor, you are automatically a leader in your community.”   37:34 At the end of the episode, Jasmine picks action steps from the REI Clarity Framework that are the most valuable to her. These are “Grow Your Community” and “Rise by Lifting Others”.   Jasmine's advice is to become an active member in the community where you're investing and become a leader. By investing in properties, you automatically influence the area and the landscape. As a taxpayer, you should be involved in your area.   If you can, be a member of your local economic development organization or mentor a newbie investor. Mentioned in the show: jinaortiz@gmail.com 7744372503 Her LinkedIn Richard Rothstein - The Color of Law www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Jasmine Ortiz for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Today, we have a powerhouse episode for you! Our guest is Logan Freeman, a real estate investor and podcaster, who shows how to compress 3 years of business growth into just 1 year. In our conversation, we talk about creating systems and strategies to reach success faster, having personal accountability, and how to be more productive by working less. If you want to grow your business and grow as an entrepreneur, then this episode is for you! Learn more about Logan and his journey at reiclarity.com! “Saying no to so much other stuff has given me the permission to say yes to what actually matters.”   03:37 Logan is a real estate investor and entrepreneur. He started a podcast this year, called the Compression podcast, where you can follow him as he compresses 3 years of business growth into just 1 year. He wants to scale fast by implementing systems and strategies and avoiding 80-hour work weeks.   Logan's company already acquired $62M of real estate in just 7 months. He shares what he learned about scaling fast and what you can do to achieve similar results. Be accountable. Talk about your goals publically, tell it to your community, or start a podcast. Focus. Where focus goes, the energy goes, so choose wisely what you focus on. Manage your time. The amount of time you allot to a task is the amount of time it's going to take, so plan out your days  Focus on the “vital few”. Roughly 80% of consequences come from 20% of causes, so focus on this 20%. Get in the flow. Find activities that put you in a flow state and organize your day around them. “Being busy is not being productive. Being efficient is not being effective.”   17:08 Logan talks about the best profit-producing actions you can implement in your strategies. Set boundaries. Take time out for yourself and make sure that you don't try to do everything by yourself in your business. Attach $1 amount to your time and focus on the most valuable tasks. Determine what you can delegate, automate, or eliminate from your schedule.   Logan puts different systems in place. He uses physical journals to write down his ideas and he implements a project management software, Monday, to help his team stay on track. “If you want to achieve a big goal, you have to get your mind right first, because you cannot give what you do not have.”   32:29 Personal accountability is very important for Logan. According to him, we're faced with choices all the time and we have to make the right decisions. This means choosing reading over watching a movie or exercising over laying on the couch. These decisions compound over time.     Creating new habits takes time. To help your journey, surround yourself with like-minded people and find good coaches. Personal accountability, forming strong habits, and keeping good company are foundational to success.  Mentioned in the show: https://ftwinvestmentsllc.com/ Tim Ferriss - The 4-Hour Workweek Mihály Csíkszentmihályi - Flow Gino Wickman - Traction Dr. Henry Cloud - Boundaries Perry Marshall  - Detox, Declutter, Dominate Tony Robbins - Awaken the Giant Within His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Logan Freeman for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Larry Hagner, host of the popular Dad Edge Podcast. Today we dig into what it takes to be a good father, husband, and business owner. We learn how to communicate better, connect with our spouses and children on a deep level, and build healthier relationships. If you want to be a better person in your personal and business life, then tune in to our conversation! Learn more about Larry and his journey at reiclarity.com! “A lot of people think that creating a healthy, elevated, extraordinary marriage is a feeling. No. It's a skill.”   03:59 Larry is the creator of the Dad Edge Podcast and community, which helps men to become healthier in their personal and professional lives.   He talks about the 5 main reasons why men join his mastermind. They want to manage and master their family finances, optimize their physical, mental, and emotional health, create an extraordinary marriage, connect and be patient with their kids, or become better leaders. In Larry's experience, 8 out of 10 men join his mastermind because they want to elevate their marriage. “Nothing is more detrimental to the relationship than you not validating your wife's feelings.”   07:48 When it comes to creating an extraordinary marriage, there are 4 elements to consider. Your self-care. Are you taking care of yourself physically, mentally, and emotionally, so you can show up in the best possible way for your wife and your family? You have to take care of yourself first to be able to take care of your loved ones. Partnership. This is the “business side” of marriage, like paying bills and doing chores. Identify the different roles and expectations in your marriage. Friendship. Do you like hanging out with your wife? Do you support each other? You should be good friends after all. Intimacy. These are the physical and emotional aspects of the relationship.   All these 4 pillars sit on the foundation of communication. To have better communication with your spouse, you need to have tactical empathy, be able to emotionally validate your partner, and practice active listening.   Larry explains the 3 basic needs of a man and a woman in a relationship. Women want to feel seen, heard, and connected to their partners. For men, the 3 basic needs are to feel respected, appreciated, and validated.  “When your kids feel heard, and seen, and connected, that's when that environment of psychological safety really comes to life.”   38:48 Larry talks about how to build better relationships with your kids.  Make sure to ask them if they need advice or just someone to listen to them. Let them talk and listen carefully. Use a calm tone of voice and speak to them at a slower pace. Don't be demeaning or condescending. Let them express their needs and validate their feelings. “Most men will live a quiet life of desperation.”   56:03 At the end of the episode, Larry picks action steps from the REI Clarity Framework that are the most valuable to him. These are “Forecast Your Future” and “Take the Risk”.   According to Larry, there are many men who are risk-averse. He would much rather take risks even if they don't always turn out successfully than die without trying. There's a bigger risk in doing nothing and not going anywhere in life than failing sometimes. Mentioned in the show: www.thedadedge.com Larry Hagner - The Dad's Edge His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Larry Hagner for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Insurance is a tremendous part of real estate investing. That's why it's important to understand and pick the best insurance for your property. Today's guest, Jeremy Goodrich, talks about that in this episode. Jeremy helps commercial real estate investors manage risk and get clarity around their strategy. As the owner of Shine Insurance and the host of the REI Clarity podcast, Jeremy's been on the team with investors as they unlocked freedom through real estate.In this episode, Jeremy talks about how he is bringing good to the world through insurance and why it's important to provide value with an abundance mindset. He also talks about why rising by lifting others is the key to REI clarity. Jeremy also shares his thoughts on creating systems, hiring employees, and relationship-building. Join us and listen in![00:01 - 05:55] Opening SegmentWelcoming Jeremy to the showJeremy shares his backgroundHis experience being a teacherHow he got into the insurance spaceWhy he started his journey in the insurance industry[05:56 - 11:34] Lifting Others Through InsuranceBringing good in the world through insuranceLeveling the playing fieldRise by lifting othersAttaining diversityHow Jeremy came up with the 9 steps for real estate investing clarityThe 3 pillars: clarity, connection, and implementation[11:35 - 27:20] Providing Value with an Abundance MindsetJeremy talks about his YouTube channelTeaching others coming from an abundance mindsetThe fulfillment of knowing you were able to help othersHow misunderstandings lead to problems with insuranceJeremy on creating systems and hiring new employees[27:21 - 35:28] Closing SegmentAsking Jeremy the Adventurous FourHow you can connect with JeremyClosing wordsTweetable Quotes:“If we're constantly trying to rise by lifting others, then it works really well.” -  Jeremy Goodrich“I think success in business ownership and real estate is when you look around In the room, and you say ‘I'm not smarter than anyone here, and I love that.'” - Jeremy Goodrich“Vet the operator first, and the property in the market second. You've got to know that you're working with someone that you believe in, you trust, and has a history of succeeding at business plans in whatever asset class they are offering you an opportunity to invest in.” - Jeremy GoodrichConnect with Jeremy on Facebook, Instagram, and LinkedIn!Check out Shine Insurance on their website and YouTube channel!Please subscribe and leave an honest review  - how do you want to create an impact in your world?Check out Adventurous REI and our social media channels: Facebook, Instagram, and LinkedIn.Michael on LinkedInSuzy on LinkedIn   Invest with us! Start here. GRAB A FREE copy of The Complete Guide to Generating Passive Income for Avid Travelers & Adventure Seekers 

Our guest today is John Okocha, a multifamily investor and private equity expert. In this conversation, we dig deep into how to network and build connections thoughtfully, the best ways to raise capital, and how to build trust with your investors. Join us and level up your networking game! Learn more about John and his journey at reiclarity.com! “Hang around people that are smarter than you.”   04:32 John's parents immigrated from Nigeria in the ‘80s to make their dreams come true. John inherited this mindset and he's always wanted to create something meaningful.   From an early age, John always put himself in situations when he could be around people who are further along in their journeys than him. His advice is to always seek out opportunities when you're out of your comfort zone because that's the only way to grow. “In the long run, the people who are going to be the titans of the industry are the people who have an extremely high EQ.”   17:49 John is an expert in making connections in the real estate space. He shares his best pieces of networking advice with us. Attend your local real estate meetup consistently so people get to know you. Be honest about your goals and where you're at in your journey. Ask thoughtful and insightful questions and also try to connect on a personal level with investors. Practice talking to as many people as possible. Read books on networking. “The highest form of money is trust.”   33:26 John is an expert in raising capital. According to him, the most important part of raising money is trust. Investors have to trust you or your brand in order to invest with you, so focus on building trust.   Ways to build trust and succeed in raising capital: Educate yourself and be an expert in your field. Be active on social media and talk to your followers regularly. Go to as many meetups as you can. Make sure to follow up with people in your network. Mentioned in the show: His Instagram Okocha Equity Partners His LinkedIn Keith Ferrazzi - Never Eat Alone Dale Carnegie - How to Win Friends and Influence People Richard La Ruina - The Soulmate Sequence Chris Voss - Never Split the Difference www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to John Okocha for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

This week I'm going to play for you an interview that I had with my friend Jeremy at the REI Clarity Show because the topics that we covered here are topics that I wish to talk about in this podcast as well. So instead of re-recording, I'll share this one with you instead and I hope you enjoy this as much.  The post My Interview on the REI Clarity Show: Step by Step Building Your Micro Empires appeared first on Micro Empires.

Our guest today is Jonathan Twombly, multifamily investor and founder of Two Bridges Asset Management LLC. In this episode, we talk about the current market, how to put together a successful deal, and how to elevate your investing game. Tune in and you'll walk away with deeper insights into today's market and the best ways to grow your investment portfolio. Learn more about Jonathan and his journey at reiclarity.com! “You're either dealing with a market where everybody is crazy for real estate and it's easy to raise money but hard to find deals, or the other way around, where it's easy to find deals, but very hard to find the money.”   03:11 Jonathan had a successful career as a lawyer in New York. He was always interested in real estate investing so when he lost his job after the financial crisis in 2011, he decided to jump into it full time. He started a syndication business with a partner who had more experience and his first deal was a 104-unit apartment building.   Jonathan's advice on how to create more stability regardless of the current market: Always plan for the downside. Don't just think about how much money you can make, but also how you could survive if the market takes a turn for the worst. Have a strategy for vacancies. See how far down you could go before you're at breakeven with your debt and evaluate the risk. Build a good team around you. “There are no more emerging markets, everything is overvalued.  What you should be looking for is markets with hidden value.”   16:06 Jonathan talks about the current real estate market. It's difficult to find good deals, however, people are willing to overpay for properties.    Even though we have a tough market right now, Jonathan still believes in multifamily investing. He shares his best pieces of advice on how to get in the game and find good deals. Adjust your expectations. Have a long-term strategy, rather than just thinking about making money fast. Be very strategic. Think about what markets are out of favor right now. Instead of emerging markets look for overlooked markets with hidden value.   Jonathan raises a lot of capital. He shares his method of attracting an audience. Create a platform that allows you to speak to a lot of people at the same time. This could be a podcast, Youtube channel, or Facebook Group. Invite people to your email list. Provide additional content and education to these people to build a relationship with them. When you have a deal, offer it to your engaged mailing list. “You don't have to have a billion dollars under management. You can do it at a much, much lower level and still have a different life and not have to work all the time.”   41:00 At the end of the episode, Jonathan picks action steps from the REI Clarity Framework that is the most valuable to him. These are “Find the Money” and “Build Your Team”.   According to Jonathan, raising money is a big stumbling block for many new investors. He suggests educating yourself on how to correctly raise money and building a good network and team.   Mentioned in the show: Multifamily Investment Community Facebook Group His LinkedIn https://twobridgesmgmt.com/ www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Jonathan Twombly for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Welcome to another episode of Micro Empires Podcast season 3! This week I'm going to play for you an interview that I had with my friend Jeremy at the REI Clarity Show because the topics that we covered here are topics that I wish to talk about in this podcast as well. So instead of re-recording, I'll share this one with you instead and I hope you enjoy this as much.    In this episode, we talk about how you create micro empires very specifically, what questions that you need to ask yourself, and how you can get involved in order to build one. His podcast is mostly about real estate, and real estate investors but I do hope that you will find this beneficial. Let me know what you think! [00:01 - 8:52] Opening Segment I talk about how I started my micro empire The hard lessons I had to learn before becoming successful  Finding places where money can come in    [8:53 - 22:43] How to Create Your Own Micro Empires  I share my belief about having 3 streams of income  Assess your strengths and charge for it  The importance of shifting your mindset  Practicing consistency and focusing on moving the needle  Having the courage to just ask  Shoutout to my podcast producers: Streamlined Podcasts GET A DISCOUNT on your first month with Streamlined Podcasts by using this link!   [22:44 - 37:58] My Real Estate Micro Empire  I talk about how my real estate micro empire started Diversifying real estate in the middle of a pandemic  The importance of taking stock of your finances and resources before investing  The power of shifting your mindset  Checkout my highly recommended books below  Address your relationship with money  Taking action [37:59 - 25:01] Closing Segment Book recommendation The Gift of Fear by Gavyn de Becker Conference recommendation  Real Estate Investors of Nashville Surround yourself with people who “look like you”  Final Words   Resources Mentioned:  You Are a Badass by Jen Sincero  You Are a Badass At Making Money by Jen Sincero  The Gift of Fear by Gavin de Becker  Tweetable Quotes: “So you always have to be prepared, not only to leap and go somewhere else, but you need to go where you're treated best and nothing's going to treat you better than your own creations of wealth, whatever they were.” -Jennifer I. Grimson “it is not required that you quit your job to create other avenues of wealth.” -Jennifer I. Grimson “I'm always open to anything that will generate a passive income. I never say no to opportunity.” - Jennifer I. Grimson   You can connect with me on LinkedIn, Twitter, Instagram, YouTube, and Facebook. I'm excited to hear more about you. I'm excited to know more about you. Also, feel free to shoot me an email at jennifer@micro-empires.com. You can call or text 213-973-7206 TELL US WHAT YOU THINK! LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.   This podcast is about YOU.  We all have a story, whether your story is a lot like mine or totally different. Maybe you have a good job, but you know in your heart that you want more.    Let's Work Together Are you ready to begin INVESTING in your future but you don't know where to start? Need more CONNECTIONS in the investing community? Sign up at https://micro-empires.com/investing-opportunities/ for investing opportunities! I have created a NEW eBook called "You Don't Have to be Wealthy to Build Wealth" Click https://micro-empires.com/how-to-build-wealth/ for a FREE copy!

Our guest today is Nicole Pendergrass, multifamily investor, and founder of Noirvest Holdings LLC. In this episode, we talk about investing purposefully in underserved communities, and how to truly rise by lifting others. Nicole is at the beginning of her investor journey, but she already has a clear “Why” and vision for her future, and she shares her story with us with all its ups and downs. Learn more about Nicole and her journey at reiclarity.com! “I really believe in the reasoning behind multifamily as far as having more than one tenant and being able to affect more than one life.”   04:11 Nicole started her investor journey with 1 to 4 unit apartments. She is now transitioning to the multifamily residential and commercial space and expanding her portfolio to 30-60 unit properties.    When Nicole decided to take the leap into multifamily, she read a lot of books, went to seminars, and talked to experts to educate herself. She started multifamily investing by direct seller marketing, direct mail. “You can deal with all the craziness of your day-to-day life and still have your money growing for you and affect the outlook of the future of your lineage.”   16:45 The first year was difficult for Nicole with her first multifamily deal. She was inexperienced and the seller was misleading and promised different things to the tenants. Eventually, she had to evict tenants which took around 6 months because New York is very tenant-friendly.   A few lessons that Nicole learned along the process: Trust but verify.  Always get a property inspection. Start building your team even if you don't have any deals yet.   Nicole is very passionate about improving communities. She doesn't want to just place new tenants to raise the rent.   She's also trying to help investors who are underserved or overlooked. These are people who might not have a high net worth or are not accredited. She's helping mainly people of color who didn't have investing opportunities until now.    Nicole is a big advocate of mindset and taking calculated risks. It's important to be educated, have a good operator, and deal, but you have to be willing to take risks. “People like to think that for them to win, someone else has to lose. That's scarcity mindset. That's thinking that there's not enough abundance to go around. But there really is.”   51:05 At the end of the episode, Nicole picks action steps from the REI Clarity Framework that is the most valuable to her. These are “Grow Your Community” and “Rise by Lifting Others”.   Nicole shares an example about rising by lifting others. She started a book club to motivate herself and others to read helpful books. This shows how she can help herself while helping others as well. Mentioned in the show: https://noirvestholdings.com/ Her LinkedIn Angela Duckworth - Grit Brian P. Moran and Michael Lennington - The 12 Week Year www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Nicole Pendergrass for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Anthony Vicino, best-selling author, multifamily investor, and serial entrepreneur. In this episode, we dive deep into what it means to succeed as an entrepreneur. We talk about mindset, how to be creative, and how to reach the hyperfocused flow state. We also discuss marketing on social media and how to create content that truly connects with your audience and grows your business. Learn more about Anthony and his journey at reiclarity.com! “Find those opportunities for growth and for challenge because that's when you're the most engaged with life.”   03:15 Anthony was a rock climber for about a decade. Through that, he learned a lot about seeking out challenges and taking risks to get better. Rock climbing is all about problem-solving and constantly improving - skills he could use in his businesses.   Anthony talks about the right mindset for succeeding as an entrepreneur. He encourages us to focus on the road and not on the destination and celebrate small successes every day. Mindset is like a muscle that needs to be developed constantly.   Ways to strengthen our mindset: Start meditating. Don't force yourself at first, take 1 step at a time, and start with 1-5 minute meditations. Change the way you talk to yourself and the way you react to things. Practice gratitude.  Start working on your mindset in the time when you're calm and non-reactive. Have a visual reminder. “The studies bear this out again, and again, and again - there's about a 500% increase in productivity when we're in the flow state.”   18:41 Anthony is very passionate about achieving a hyperfocused or flow state. He's helping people figure out how to build systems around themselves so that they can focus with intentionality on the things that really move the lever.   According to Anthony, we need curiosity, passion, and motivation to reach this hyperfocused state.    How to get into the flow state? Do environment design. Find a calm, quiet place, where you won't be interrupted. You have to be in a good mood for the flow state to happen. Get outside. Go into a novel environment that is information-rich. Routine builds familiarity. Within that routine, you have the maximum potential to be creative and focused.    It takes 20-30 minutes to get in the flow state, and you can stay in it for up to 60-90 minutes. “For an author or anybody, the hardest thing to look at is the blank page. You gotta have something already there to get started.”   31:10 Anthony is very active on social media, specifically on LinkedIn. LinkedIn is a good place to build business connections because people are already in the right mindset. Youtube is also a good platform because people go there to search for information.   Anthony's advice when creating content is to think about what's in it for the people. Don't just talk about yourself, focus on helping others.    Anthony's advice is to have a few topics that you can always go back to and can craft your social media posts around. “Tactics are knowing what to do when there is something to do. Strategy is knowing what to do when there is nothing to do.”   51:06 At the end of the episode, Anthony picks action steps from the REI Clarity Framework that is the most valuable to him. These are “Grow Your Community” and “Know Your Strategy”.   For Anthony, strategy is the big macro framework for everything that you're doing in your business. And all the opportunities and tactics are the direct result of all the strategies that you enact. The strategy creates the framework for all the opportunities. Mentioned in the show: https://invictusmultifamily.com/ Multifamily Investing Made Simple Podcast His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Anthony Vicino for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast  

Our guest today is Bryan Ellis, the CEO of SelfDirected.org, writer, and capital raising expert. In this episode, we focus on the process of explaining a deal or opportunity to someone else. We talk about marketing, how to communicate the quality of your business better, and how to motivate people with your presentations. If you ever needed to raise funds from other people or hosted a webinar about your investment deal, then this episode is going to level you up. Learn more about Bryan and his journey at reiclarity.com! “If I wanted the conversation to end there, I'd say I'm a writer. But if I did want to talk to you, I'd say I'm the Great and Powerful Oz.”   04:33 Bryan is a real estate investor and coach. He helps people who are raising capital to do it much better by using psychology and well-established principles of persuasion.   Bryan is an expert in self-directed IRAs. His advice, when considering using this particular vehicle, is to always go to a CPA or an attorney who knows about self-directed IRAs. There are many challenges in terms of tax advantages and legal compliance.   Bryan shares his best pieces of advice on how to attract investors when raising money for a deal. Start a podcast or a Youtube channel with a clear CTA in every episode and publish content consistently. This is the top of the funnel. Build a following of people who know you, like you, and trust you. Capital raising webinars are only the last step in your funnel. “You've always got to ask yourself - the person listening to me, what do they care about? “   17:55 Most capital raising events have been done by webinar since the start of the COVID era. Bryan explains that many of these webinars are done incorrectly. People share inconsistent or irrelevant information.   The role of the webinar is to make sure that people who are not qualified won't waste your time. And also that the people who are qualified are interested based on real information.    Bryan shares how to raise capital correctly as a new capital raiser. Share less data on the webinar. All the spreadsheets should only be in the PPM. Write out every single word that you want to say in the presentation. Be prepared. Make sure you have a good deal. It's even more important now than 1-2 years ago. “If you do your first 2 well, raising money is never a problem ever again.”   33:22 The correct order of a successful capital raising presentation is: Start with a hook. This could be 3 quick facts about the deal that you share without giving too much detail to get the listeners interested.  Do a legal disclaimer at the front. Our minds are wired to understand stories. Start with the story about how the deal came together and why you chose this one over all the others that you underwrote. Bring the people into the story and talk about investor relations. Talk about the structure of the deal. Close the presentation with a controlled Q&A that is not live. Share the CTA once again. Mentioned in the show: www.selfdirected.org Self Directed Investor Talk Podcast His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Bryan Ellis for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Lisa Hylton a syndicator, real estate investor, and podcaster. In this episode, we dig deep into real estate funds. We discuss how these funds work, what are the pros and cons of investing in them, and when you should start a fund yourself. Learn everything about real estate funds and tune into this episode! Learn more about Lisa and her journey at reiclarity.com! “What's key with the blind fund is that you need to be comfortable with the investment strategy and trust in the operator.”   03:51 Lisa started her career as a controller for private equity real estate funds. Recently, she started her own company as a real estate funds syndicator.    A fund is an entity, typically an LLC that has been created to invest in one or more real estate assets. The GP team manages the money.   Lisa explains that there are 2 types of real estate funds: Real estate syndication. Here, the investors invest in 1 or sometimes multiple assets that are known.  Blind fund. This type of fund enables investors to invest, but none of the investments are known. Investors are investing in the investment strategy and plan, and it usually covers multiple asset classes that are typically value add or opportunistic investments. “Investing in funds really works well for people who don't have a lot of time but have money and want to invest in real estate in a very diverse way.”   11:48 Lisa shares the multiple benefits of real estate funds for passive investors:  If the investors really like and trust the sponsor then they can get exposure to a variety of deals constantly. The investors don't have to review new deals every time. The sponsors are acquiring deals and sending them a report every quarter. Funds work well for people who have money and want to diversify but don't have much time.   According to Lisa, the only downside of investing in funds is the lack of control.   There are 2 different ways of paying out: Evergreen funds. These funds have no end. Every time the operators sell an asset they give the investors the option to reinvest. Funds with a set life. These funds end in 5-7-10 years. The operators have 1-2 years to raise and 3-4 years to deploy the money. However, even though there is a set sell date, this can change based on the market.   If you're an operator who's thinking about starting a fund, Lisa recommends making sure that you have a substantial deal flow. Also, if you're focused on raising capital as part of a GP team, starting a fund can be beneficial because you can have your own entity. “Being in the right place starts with you getting to know who you are.”   34:32 At the end of the episode, Lisa gives advice for people who want to take the leap from their W2 job into entrepreneurship. Be clear on the bigger vision and be flexible on how you get there. Work on your mindset. Structure your days, weeks, and quarters, and focus on your goals. Be around the right people. Hire coaches and be in the right masterminds. Mentioned in the show: https://lisahylton.com/ https://lisahylton.com/funds Her LinkedIn The Level Up REI Podcast Gay Hendricks - The Big Leap Brian P. Moran and Michael Lennington - The 12 Week Year www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Lisa Hylton for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While you there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

An entrepreneur who is passionate about serving and teaching his community speaks to the importance of a reliable insurance policy in commercial real estate investments. Jeremy Goodrich is a former school teacher turned insurance advisor, entrepreneur, podcast host, and real estate investor. His life has been marked by a common theme of teaching and serving others, and for the last eight years he has utilized those skills by simplifying the insurance process for first time home buyers and real estate investors. We speak with him on his experience of building a business from the ground up and how his family was able to take safe risks to reach their goals of financial stability. Jeremy knows what it's like to live in a scarcity mindset, so he's passionate about sharing tips for building wealth, both financially and mentally. We also discuss the importance of having a high quality insurance contract in place for any commercial real estate transactions. Jeremy estimates that 80% of real estate investors have the wrong policies, and part of his job is to audit their contracts to find any missing holes. There are a few factors that should always be considered, and having a strong relationship with the agent is always helpful in getting there. Jeremy's insight will offer clarity to anyone that is uninformed or uncertain about their insurance policies, and more information can be discovered on both his podcast and YouTube channel. Key Insights: The importance of quality insurance in commercial real estate Surviving in a scarcity mentality versus thriving in an abundance mentality What every investor should look for in their insurance contract, and the reasoning behind not always opting for the cheapest option Who is at fault in cases of liability, such as the condominium collapse in Miami, and how to ensure you are protected in the worst case scenario Balancing risk and stability to build a successful business Subscribe to this podcast to build your healthy financial foundation through expertise, insights, strategies, tactics, wisdom, and inspiration from Alpha Investing's community of professionals, advisors,investors, and members: Apple - Spotify - Google - TuneIn - Stitcher - iHeartRadio Guest Bio: Jeremy Goodrich is a commercial real estate insurance advisor and the Co-Founder of Shine Insurance Agency. He was previously an elementary school teacher, helping countless kids fall in love with art, math, science, and writing. After 13 years of teaching, Jeremy decided it was time to change the way people feel about insurance, so he carried the heart of an educator over and has been making insurance simple for first time home buyers and real estate investors ever since. Jeremy is also the host of a Multifamily real estate podcast, REI Clarity, and the host of Youtube's #1 most watched independent insurance agency channel. Resources: REI Clarity Podcast Shine Insurance YouTube Channel Real Wealth Real Health Alpha Investing podcast@alphai.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Our guest today is Dan Lewkowicz, a commercial real estate broker, educator, and podcaster. In this episode, we talk about the pros and cons of net lease commercial real estate investing, how to build great relationships with brokers, and how to become a CRE broker yourself. If you're ready to invest in commercial real estate but are looking for something else other than multifamily, then this episode is for you! Learn more about Dan and his journey at reiclarity.com! “It's great to analyze deals and great to try to figure things out. But it's also great to not miss opportunities.”   03:59 Dan started his career as a CRE investor and broker 15 years ago in Detroit. His investing strategy is to follow the money and the resources. He sees a lot of opportunity in Detroit now.   Dan's specialty as a broker is net lease investment sales. He sells buildings that are rented or leased out to major national chains like Walgreens, Taco Bell, or Burger King. The reason it's called net leased assets is because the rental rate that is on the lease is net to the investor.   The pros of net lease investment compared to multifamily is that it's more reliable because the lease is set for 15-20 years and more passive. The downside is that there are not many properties available under $1M, however it can be done in syndications. “If you're looking to become an independent, successful real estate professional, it's great to be an investor. But the opportunity as a commercial real estate broker, especially today is absolutely incredible.”   21:06 Dan is one of the top CRE brokers in the country. He shares his insights on how to be on top of a broker's list. Be transparent, honest, and straightforward with what you're looking for. Treat the broker how you want to be treated. Trust your broker and be open to their advice. Give your broker feedback about the deals they bring to you.   According to Dan, finding net lease investment deals can be difficult as it is not as common as multifamily investing. He recommends interviewing brokers and looking for referrals.   Dan created a course called “CRE Pro” where he helps people who want to become CRE brokers and gives advice to CRE investors. “You need to put time and energy into the inputs and the outputs will come.”   38:55 At the end of the episode, Dan picks an action step from the REI Clarity Framework that is the most valuable to him. This is the “Know Your Strategy.”   For Dan, strategy means having very clear and replicable procedures. Create processes with the knowledge that you have and keep improving them. It's a process of refinement, so it doesn't have to be perfect today. Mentioned in the show: www.crwprocourse.com Dan On Top Podcast Phone Number: (248) 943 2838 His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Dan Lewkowicz for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Chad Keller, a digital marketer who has grown and sold many tech businesses over his young career. In this episode, we dive deep into the 6 key steps to succeed in digital marketing and how to use ads effectively to find more leads. If you're growing your business and want to learn the best insider tips about digital marketing, this episode is for you! Learn more about Chad and his journey at reiclarity.com! “With digital marketing we had more leads coming in then we could deal with.”   05:07 Chad has always been very entrepreneurial, so after finishing college, he knew that he didn't want to get a corporate job. He started an ecommerce company and got interested in digital marketing and it's opportunities.    Chad found real estate as a great way to invest his money and uses his tech skills to help other people succeed in real estate too. Now his company has 150 investors nationwide. “I personally don't feel there is a time when you should stop ads unless you don't want to grow your business anymore.”   07:35 Chad shares his 6 key steps to succeed in digital marketing and drive more leads to your real estate business.   Create a website. Don't spend a lot of money on the design, there are simple and cheap options for you. Don't talk about your brand too much on the website, focus on your ideal clients' desires and needs. Put the most important information on the first page of your website. Your visitors shouldn't have to scroll down on your website.    Come up with the creatives. Take professional headshots. Get someone to design your ads instead of doing it by yourself. Make sure that you keep your Facebook videos between 8 to 14 seconds and put all the key information in them.   Build out conversion campaigns. Learn Facebook Ads Manager or hire someone who manage your ads for you.   Create new ads regularly. Every 3-4 weeks go back and make sure you have fresh creatives going out. Ads fatigue is when the same ad is being shown to the same person multiple times. You want to avoid that by creating new ads from time to time.   Build a connection with your subscribers. Create a drip campaign for the people who signed up for your email list. This automation sends them emails to grab their attention for 90 days.   Get testimonials from existing clients. Share these testimonials on your website and social media to establish more credibility. “Take the risk and put yourself out there.”   38:02 At the end of the episode, Chad picks action steps from the REI Clarity Framework that are the most valuable to him. These are “Know Your Strategy” and “Take the Risk”.   According to Chad, taking risks is crucial for growth. Keep pushing, keep learning, and keep taking risks, so you can eventually reach your goals. And even if you fail, don't give up, just push forward. Mentioned in the show: https://motivated-leads.com/ His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Chad Keller for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Stephanie Walter, a multifamily passive investor, and insurance agent. In this episode, we talk about succeeding as a capital raiser, building true wealth, and taking the leap from single-family to multifamily investing. If you're looking to jump into multifamily real estate and grow your business, this conversation is for you! Learn more about Stephanie and her journey at reiclarity.com! “That really was the magic of how I retired. I just repositioned money that wasn't performing for me.”   04:00 Stephanie became an insurance agent in 2005. She started investing in single-family properties. In 2016, she became interested in syndications and realized how much she loved the capital raising part of it.   Stephanie completed her first syndication in 2018 which was a fraternity house. She's done 6 until now and was able to replace her income with passive income. “Many people haven't heard of making money while they're sleeping. Not “landlord sleeping”, but real, true, deep sleeping.“   20:32 Stephanie's expertise in the deal is to bring the money. She shares her advice for capital raisers: Find a good mentor. Be a part of a little group of people with who you communicate regularly. This could be through a podcast, newsletter, or social media. Networking is crucial for raising capital.   Stephanie talks about why syndication and multifamily investing are better than single-family investing. The vacancy is not that big of an issue in multifamily properties, and your money is working for you more efficiently.   Stephanie explains how wealthy people like to invest in businesses and people and not in their 401(k) and the stock market. They also know all the fees that they are paying for every transaction.  “Build a group of people that listen to you and follow you.”   41:10 At the end of the episode, Stephanie picks action steps from the REI Clarity Framework that are the most valuable for her. These are the “Know Your Strategy” and “Find the Money”.   According to Stephanie, if you can raise money constantly, you will always have a place in the multifamily space. So if you're interested in capital raising, start reaching out to people and build a community of people who trust you.   Also, try to find a networking group where people are just a bit better than you are so you can learn from them.  Mentioned in the show: https://erbewealth.com/ Her LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Stephanie Walter for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Brett Swarts, Capital Gains Tax Deferral Experts, and speaker. In this episode, we dive deep into ways to avoid or defer taxes to maximize the benefit of real estate investing. We talk about the top 5 tax deferral strategies, focusing on the Deferred Sales Trust, and Brett shares how to live a successful and fulfilled life. If you're ready to leverage the tax benefits of real estate and defer your taxes, then this episode is for you! Learn more about Brett and his journey at reiclarity.com! “It's my passion to help people defer tax. I'd never want someone to feel trapped by capital gains tax jail.”   04:49 Brett started his investment real estate career in 2006 as a multifamily real estate broker. After the 2008 financial crisis, he needed a side hustle. That's when he heard about Deferred Sales Trust, and he knew he had to dive deeper into it and help people. Now, 10 years later, Brett is coaching others about tax strategies.   Brett shares his success and fulfillment formula: Find out what's your gift, talent, or passion. Maximize the potential of this gift. Use your gift to serve others and impact other people's lives. “The Deferred Sales Trust is like Netflix. Why is it like Netflix? Well, first of all, it works for any kind of asset.“   18:07 Brett explains how the largest wealth transfer is happening now in history. It's expected that $17-$20 trillion is going to pass from baby boomers to the next generation in the next 20 years. But they are burdened with a huge capital gains tax.   Brett's top 5 tax deferral strategies for real estate investors: 1031 Exchange.Unfortunately, it only works for investment properties and has many restrictions. Delaware statutory trust. Essentially, it's another form of 1031 Exchange, except you exchange your investment property into interest into a larger portfolio of a couple of properties. The challenge is you have to give up all control. It's typically 7-10 years and you have no liquidity and diversification.  Deferred Sales Trust. This is Brett's favorite because you can put your gains into a variety of types of assets. A Deferred Sales Trust is one you create while engaging a third-party company to act as trustee. You could sell your investment real estate to this trust in exchange for a deferred installment contract, or promissory note which you design and document in advance. You have to renew it every 10 years. Cost segregation. It's accelerated depreciation for investment properties. You can reduce their taxable income by having a cost segregation study or segregation analysis completed on the property. Seller carry-back.Seller carry-back financing is when the seller of the property acts as a lender for a buyer on the seller's property. The buyer typically pays you back in 3-5 years, but it's not liquid or diversified.   Brett's advice for ultra high net-worth individuals is to be aware of the state tax exemptions that are expiring in 2025. It's 40% of the debt tax. “The Deferred Sales Trust is a great way to raise capital.”   52:08 At the end of the episode, Brett picks an action step from the REI Clarity Framework that is the most valuable for him. This is the “Find the Money”.   According to Brett, the Deferred Sales Trust is a great way to unlock capital from sources that otherwise weren't possible. There are other places that people have money, like cryptocurrency, primary homes, or businesses. If you can solve the problem of that illiquid asset to sell and defer the tax, it is the best way to raise large sums of money. Mentioned in the show: https://capitalgainstaxsolutions.com/ Capital Gains Tax Solutions Podcast https://www.experttaxsecrets.com/main His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Brett Swarts for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Neal Bawa, a commercial real estate investor, data scientist, and educator. In this episode, we dive deep into how to analyze data. We talk about how to understand the markets and asset classes, the future of real estate investing, and how data drives our decision-making. If you want to understand the current real estate environment and learn about multifamily and its role in the industry, then this episode is for you! Learn more about Neal and his journey at reiclarity.com! “The amount of time that we'd spend looking at the data is clearly at least 10x of a typical company of our size.”   04:18 Neal is a large multifamily investor with thousands of units in 10 states. He considers his company one of the most diverse multifamily companies in the United States because they have multifamily, student housing, built-to-rent, townhouse, self-storage, industrial, new construction, B and C class assets in their portfolio. . Built-to-rent is a newer term in the industry but it's already the fastest-growing asset class in all of real estate. These are townhomes or single-family units that are like apartments.   According to Neal, his company is more like a data company that works in real estate, that is why their portfolio is very diverse. “This is the greatest time in history to sell.”   15:40 Neal is a data scientist. He talks about what data is impacting real estate investing the most currently.   One major factor to consider is that we recently injected 5 trillion dollars into a 2 trillion dollar economy. This affects the single-family market the most but also the multifamily market. It created low inventory, record amounts of liquidity in the system, and record-low interest rates.   According to Neal, this is the greatest time in history to sell in real estate. It can also be a good time to buy, but you might need to change your strategy or preferred markets. “It's a classic and capital mistake to study cities. What you really should be doing is studying regions or corridors.”   25:02 Neal talks about his acquisition strategy. He recommends investing in tertiary markets and looking at corridors instead of cities.    He also recommends investing in fourplexes as they have the best tax benefits and to stay away from new construction.   At the end of the episode, Neal shares how climate change is affecting real estate and changing the market whether you believe in it or not. According to him, it's not just the actual climate change that will affect real estate but the perception of it will have a strong impact as well. Mentioned in the show: http://www.neilbawa.com/ https://multifamilyu.com/ His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Neal Bawa for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

The first thing you have to do in real estate investing is the clarity pillar, by learning from people who've done it before and going down this road of building your strategy knowing exactly what you're going to do. Welcome back to the Micro Empires podcast! Today, I will be interviewing Jeremy Goodrich, one of the founders of Shine Insurance. Jeremy is an entrepreneur, real estate insurance advisor, & side hustle investor. He is a former school teacher before becoming an entrepreneur.  He is also the host of a fantastic podcast called REI Clarity, where he helps people walk through the steps to be successful real estate investors. [00:01 - 09:30] Opening Segment  I introduce today's guest. Jeremy Goodrich Jeremy shares his background and the money culture he grew up in. The career transition and money shift in Jeremy's life. The opportunity to help and make a difference in people's lives. [09:31 - 16:50] Rise by Lifting others Rise by lifting others' pillars. Hire people to lift up and give them a path to succeed financially as well. The motivation behind the decision and the selection process Figure out who your ideal client is and add value to them. Help people to have better money sense to make better money decisions. REI Clarity podcast show. [16:51 - 21:00] 9 Steps to Succeed in The Real-estate Investing The framework of 9 foundational pieces to succeed in real estate investing. Clarity pillar Listen to podcasts, read books, and gain more knowledge about real estate. Connection pillar Make connections with our service team, sellers, and good sponsors. Implementation pillar Take action on the strategy and connection that you have. Shoutout to my podcast producers: Streamlined Podcasts Use promo code: MICROEMPIRES and get a discount! [21:01 - 31:34]  The Trust Piece in Insurance Business Jeremy talks about the beginning of his insurance business Partnership game and trust piece in the insurance world. Two things that everyone wants from insurance. The biggest mistake that operators make on insurance. Three things you should think about when hiring an insurance advisor. Visit https://reiclarity.com/ to download the REI Clarity Framework to get the nine simple steps to succeed in real estate investing. [31:35 - 33:51} Closing Segment Final words from Jeremy and me. Tweetable Quotes: “Rise by lifting others means hiring people that you can lift up and give them a path to succeed financially as well” - Jeremy Goodrich. “Figure out who your ideal client is and add value to them..” - Jeremy Goodrich. “The first thing you have to do in real estate investing is .the clarity pilar, by learning from people who've done it before and going down this road of building your strategy knowing exactly what you're going to do.” - Jeremy Goodrich. You can connect with Jeremy through LinkedIn, or you can email him atjeremy@shineinsure.com. Also, check out his podcasts and website at https://reiclarity.com/    You can connect with me on LinkedIn, Twitter, Instagram, YouTube, and Facebook. I'm excited to hear more about you. I'm excited to know more about you. Also, feel free to shoot me an email at jennifer@micro-empires.com. You can call or text 213-973-7206 TELL US WHAT YOU THINK! LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.   This podcast is about YOU.  We all have a story, whether your story is a lot like mine or totally different. Maybe you have a good job, but you know in your heart that you want more.    Let's Work Together Are you ready to begin INVESTING in your future but you don't know where to start? Need more CONNECTIONS in the investing community? Sign up at https://micro-empires.com/investing-opportunities/ for investing opportunities!   I have created a NEW eBook called "You Don't Have to be Wealthy to Build Wealth" Click https://micro-empires.com/how-to-build-wealth/ for a FREE copy. The post 9 Steps to Succeed in The Real-estate Investing with Jeremy Goodrich appeared first on Micro Empires.

The first thing you have to do in real estate investing is the clarity pillar, by learning from people who've done it before and going down this road of building your strategy knowing exactly what you're going to do. Welcome back to the Micro Empires podcast! Today, I will be interviewing Jeremy Goodrich, one of the founders of Shine Insurance. Jeremy is an entrepreneur, real estate insurance advisor, & side hustle investor. He is a former school teacher before becoming an entrepreneur.  He is also the host of a fantastic podcast called REI Clarity, where he helps people walk through the steps to be successful real estate investors. [00:01 - 09:30] Opening Segment  I introduce today's guest. Jeremy Goodrich Jeremy shares his background and the money culture he grew up in. The career transition and money shift in Jeremy's life. The opportunity to help and make a difference in people's lives. [09:31 - 16:50] Rise by Lifting others Rise by lifting others' pillars. Hire people to lift up and give them a path to succeed financially as well. The motivation behind the decision and the selection process Figure out who your ideal client is and add value to them. Help people to have better money sense to make better money decisions. REI Clarity podcast show. [16:51 - 21:00] 9 Steps to Succeed in The Real-estate Investing The framework of 9 foundational pieces to succeed in real estate investing. Clarity pillar Listen to podcasts, read books, and gain more knowledge about real estate. Connection pillar Make connections with our service team, sellers, and good sponsors. Implementation pillar Take action on the strategy and connection that you have. Shoutout to my podcast producers: Streamlined Podcasts Use promo code: MICROEMPIRES and get a discount! [21:01 - 31:34]  The Trust Piece in Insurance Business Jeremy talks about the beginning of his insurance business Partnership game and trust piece in the insurance world. Two things that everyone wants from insurance. The biggest mistake that operators make on insurance. Three things you should think about when hiring an insurance advisor. Visit https://reiclarity.com/ to download the REI Clarity Framework to get the nine simple steps to succeed in real estate investing. [31:35 - 33:51} Closing Segment Final words from Jeremy and me. Tweetable Quotes: “Rise by lifting others means hiring people that you can lift up and give them a path to succeed financially as well” - Jeremy Goodrich. “Figure out who your ideal client is and add value to them..” - Jeremy Goodrich. “The first thing you have to do in real estate investing is .the clarity pilar, by learning from people who've done it before and going down this road of building your strategy knowing exactly what you're going to do.” - Jeremy Goodrich. You can connect with Jeremy through LinkedIn, or you can email him atjeremy@shineinsure.com. Also, check out his podcasts and website at https://reiclarity.com/    You can connect with me on LinkedIn, Twitter, Instagram, YouTube, and Facebook. I'm excited to hear more about you. I'm excited to know more about you. Also, feel free to shoot me an email at jennifer@micro-empires.com. You can call or text 213-973-7206 TELL US WHAT YOU THINK! LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.   This podcast is about YOU.  We all have a story, whether your story is a lot like mine or totally different. Maybe you have a good job, but you know in your heart that you want more.    Let's Work Together Are you ready to begin INVESTING in your future but you don't know where to start? Need more CONNECTIONS in the investing community? Sign up at https://micro-empires.com/investing-opportunities/ for investing opportunities!   I have created a NEW eBook called "You Don't Have to be Wealthy to Build Wealth" Click https://micro-empires.com/how-to-build-wealth/ for a FREE copy.

Our guest today is David Hays, a well-known financial advisor and real estate investor in Bloomington, Indiana. In this episode, we talk about diversifying your local portfolio, finding and grabbing opportunities, and the different types of investments to get into real estate. Tune in if you're an investor wanting to become successful as David shares all the ups and downs in his journey and how he reached success. Learn more about David and his journey at reiclarity.com! “There are only a few things you can do with money - you can spend it, you can save it, or you can share it.”   04:53 David grew up in Bloomington, Indiana and his family didn't have much money. David started learning about money and his mindset changed towards it. He got into finance and became a financial advisor.    David was 24 years old when he started real estate investing. His first deal was a nine-acre farm which he refinanced and bought his first duplex.   In the beginning, David was looking for equity, but now he's more focused on cash-flow generating properties. His portfolio is very diverse. He has student housing, self-storage, retail, and commercial investments. “It's all about people, it's all about where the people are going.”   24:05 David talks about some ways to get into real estate investing. One of them is investing in a  REIT (Real Estate Investment Trust). REITs are good because there is no income tax on them and you can have a more consistent and safe income stream. Syndication is also a good way to get into bigger deals.   David explains that there are a lot of different opportunities that fit different people. According to him, his success is due to seeing opportunities and not being afraid to take the leap. He focuses on the people and where they would like to live. “Having clarity and focus is really important. It doesn't mean you can't venture off here and there, but really maintain a focus is important.”   42:53 At the end of the episode, David picks action steps from the REI Clarity Framework that are the most valuable for him. These are the “Know Your Strategy” and “Forecast Your Future” in the “Clarity” pillar.   Maintaining focus and getting clarity are very important for David. As entrepreneurs, we tend to lose focus, so it's crucial to establish our strategy and stick to it. The most important is knowing what you want and knowing who you want to be involved with.   Lastly, David explains that finding the money is never a problem for him. Find the deal first, and if you're dedicated, you will find the money. Mentioned in the show: https://www.cfci.us/ His LinkedIn  Your Money with David Hays www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to David Hays for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Andrew Cushman, a multifamily real estate investor expert, owner of Vantage Point Acquisitions, and facilitator of the Multifamily Accelerator Mastermind. In this episode, we talk about how to succeed in the current real estate market, how to find the best deals, and the 4 steps to find overlooked deal opportunities. If you want to learn how to find deals before other people, then this episode is for you!  Learn more about Andrew and his journey at reiclarity.com! “I pursued my goal relentlessly. And after 4500 cold calls, we got our first deal.”   05:20 Andrew started his career as a chemical engineer and got into house-flipping on the side. He turned it into his full-time business, and eventually transitioned into multifamily investing. His first multifamily deal was a 92-unit apartment building. As of now, Andrew had his fingers on over 2000 units.    According to Andrew, the 2 key things that led to his success were collaborating with the right people and relentless persistence.   Andrew talks about the importance of bringing additional team members in from the start.  "Finding a deal is probably the easiest way to get yourself into the business"   22:01 Andrew explains that in the current market, finding a good deal is the hardest part. A few years ago, it was raising the money.   The 4 key steps to finding overlooked deal opportunities:   Know exactly what you're looking for. Be as specific as you can. Know where you're looking for the deal. Rather than trying to cover a huge area, pick 1-3 markets that you can effectively handle and go deep. Know what you're going to do with the deal once you found it. Are you looking to co-GP with someone? Are you looking to syndicate? Start looking for deals just slightly out of your comfort zone “I'm a big believer in third-party, especially if you're looking to scale your business and really grow in terms of acquiring a number of units.”   33:43 At the end of the episode, Andrew picks action steps from the REI Clarity Framework that are the most valuable for him. These are the “Build Your Team” and “Know Your Strategy”. Andrew highlights a good strategy for scaling faster. The key is to hire a really good, competent third-party management company and manage them. This way you become an asset manager, not a day-to-day operator. Mentioned in the show: vpacq.com https://www.vpacq.com/mastermind www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Andrew Cushman for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

ABOUT JEREMY GOODRICHJeremy is the owner of Shine Insurance agency and the host of the REI Clarity podcast. He's a teacher at heart and he simplifies insurance by giving step-by-step guidance along the way. Before Shine, he was an elementary school teacher, helping countless kids fall in love with art, math, science, and writing. After 13 years of teaching, he decided it was time to change the way people feel about insurance. Jeremy carried the heart of an educator over and he's been making insurance simple for first-time homebuyers and real estate investors even since. He's also the host of Youtube's #1 most-watched independent insurance agency channel.     THIS TOPIC IN A NUTSHELL:[01:25] His career background[02:06] How Shine Insurance started [04:40] Pain points of Insurance coverage for Realtors[05:23] Two ways to purchase insurance[05:30] Buying insurance as Captive Provider[06:30] Buying as an Independent Insurance agent[10:11] On getting quotes from insurance companies[14:50] Timeline in getting a quote[16:45] Determining the coverage of Insurance policies[18:00] Replacement cost policies and ACV coverage[20:03] Differences of DP1, DP2, and DP3 Insurance policies[22:46] Importance of Liability coverage insurance[25:00] How do you write coverage for each asset [25:56] Pros and cons of coverage for multifamily [27:01] Pricing of insurance companies[29:55] Property's track record and risks considered in coverage[32:35] Why Insurance companies have different pricing? [34:25] Advice to his 25-year-old[35:21] First Entrepreneurial Endeavor[36:14] His Formal and Informal training that shaped his journey[37:44] The Opportunity that got away[39:43] How to reach out to Jeremy   KEY QUOTES[22:45] In my opinion no matter what you're asset-based is, no matter how much money you have, no matter how many properties you have, going without liability coverage is a huge mistake. Liability coverage covers when bad things happen to other people because of you or your property. [23:19] The reason why Liability coverage is so important is that you just have no idea what the number is. Like, if your single-family home burns down, you just lost $200,000 or if you have to deal with lawyers it will cost you money too. All those things that you should have been doing yourself and you've been dealing with lawyers and paying for yourself is just happening with the Insurance company and you don't even necessarily know it's being dealt with because it's just taken care of. [28:00] For insurance pricing, I can say without question that there is no magic ball, it's not a number that just comes from nowhere, though I agree that it feels like that. These numbers are based on claim experience for a given type of property. All these data points create a hard reason for insurance pricing. Having said that, especially in commercial real estate insurance, there is flexibility and that's what makes it feel like a magic ball. Pricing is based on hard numbers, especially in multifamily.       KEYWORDS: DP1 Policy - is a type of home insurance policy that protects a house from 11 named perils – most notably fire. It's usually used to ensure vacant homes but can also be used for rental properties if landlords are on a tight budget. DP2 Policy - is a type of home insurance policy that protects a house from 16 named perils including burst frozen pipes. DP3 Policy - is a type of insurance policy that covers everything else except for what is mentioned specifically as excluded in the coverage.   SUMMARY OF BUSINESSShine is an independent insurance agency committed to making our clients & our community better. Not only are we able to provide the best insurance experience you never imagined, but our Rise by Lifting Others program also directs a portion of every policy premium to organizations that address homelessness. Whether it's insurance for HOME & AUTO or REAL ESTATE INVESTORS, the result is smart policies, with the highest rated companies, at incredible prices. Our mission is to change the way you feel about insurance. We take something complicated and make it understandable. Advice is provided every step of the way and advocacy when you need us most. When you get insurance from Shine it actually counts for something, whether you need to use it or not.  ABOUT THE WESTSIDE INVESTORS NETWORK         The Westside Investors Network, is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.     The Westside Investors Network strives to bring knowledge and education to the real estate professional that is seeking to gain more freedom in their life. The host's AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.                 #investmentproperty #realestate #investment #property #realestateinvesting #propertyinvestment #investing #realestateinvestor #investor #investments #realtorlife #properties #investmentproperties #realestateinvestment #REinvesting #entrepreneur #entrepreneurlife #money #business #finance #financialfreedom #wealth #entrepreneurship #passiveincome #multifamily #commercialrealestate #insurance #insuranceagent #insurancebroker #business #autoinsurance #homeinsurance #finance #insuranceagency #businessinsurance #financialplanning #insuranceclaim #protection #financialfreedom #insurancepolicy #liabilitycoverage #insurancepricing #insurancequote #creditscore #trackrecord #insurancecompany #shineinsurance    YOU MAY CONTACT JEREMY GOODRICH  VIA:  Email: jeremy@shineinsurance.comWebsite: https://www.shineinsurance.com/LinkedIn: @Jeremy GoodrichPodcast: https://reiclarity.com/Social media:     Facebook: https://www.facebook.com/jegoodri/Instagram: https://www.instagram.com/jgshines/ Youtube: @Shine Insurance  CONNECT WITH US    For more information about investing with AJ and Chris:    · Uptown Syndication | https://www.uptownsyndication.com/    · LinkedIn | https://www.linkedin.com/company/71673294/admin/     For information on Portland Property Management:   · Uptown Properties | http://www.uptownpm.com   · Youtube | @UptownProperties       Westside Investors Network   · Website | https://www.westsideinvestorsnetwork.com/   · Twitter | https://twitter.com/WIN_pdx   · Instagram | @westsideinvestorsnetwork   · LinkedIn | https://www.linkedin.com/groups/13949165/   · Facebook | @WestsideInvestorsNetwork   ·    Youtube | @WestsideInvestorsNetwork     

Our guest today is Adam Carswell, a real estate entrepreneur, and social media expert. In this episode, we dive deep into the second pillar of the REI Clarity Framework, making connections. We talk about the 5 most effective ways of networking in commercial real estate, the importance of a team, and how to be consistent in your work. If you want to elevate your networking game, then don't miss out on this episode! Learn more about Adam and his journey at reiclarity.com! “Find a place to get your education first. It is a skill within itself because there are so many people offering things”   Adam grew up in Ohio. After his master's degree, he moved to Washington DC, where he fell in love with real estate investing. He started as a realtor but then moved to the commercial real estate space.   Adam's advice is to always focus on your education. “Your name is your most valuable asset, so you have to market yourself on a daily basis. You're definitely leaving a lot of opportunities on the table by not properly promoting yourself.”   07:32 Adam shares his 5 most effective ways to build commercial real estate connections.   Network face to face. Go to your local meetups and RIAs. If you can't go in person, then conferences and online meetups are a good place to start. This is a great way to build connections, but also to educate yourself.  Get educated. You can start with books and podcasts. Many times the podcasters have a course or a coaching program too. Make sure your profile pops. A good profile picture and header are crucial. Be yourself Connect to groups who have a similar story as you.  Be active on Linkedin.  Leverage your personal connections. Everyone has at least one real estate person they know. Try to make a connection with them first. If you don't have one, then use paid mentors. Publish content regularly. Blogging, Youtube, writing articles, or being active on social media are necessary for building connections. Always talk about something you're passionate about or an expert in, and make sure to be consistent for years. “When delegating your tasks you have to be willing to experiment until you find the right person for you.”   40:54 At the end of the episode, Adam picks action steps from the REI Clarity Framework that are the most valuable for him. These are the “Build Your Team” and “Establish Your Mentors”.   Building a team is crucial for the success of a company. According to Adam, building a team is a skill that every entrepreneur has to master. Delegating tasks can be difficult at the beginning of your journey but it saves a lot of time and money eventually. Mentioned in the show: carswell.io His LinkedIn Dream Chasers Podcast www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Adam Carswell for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Julie Anne Peterson, the Senior Director of Old Capital Lending, one of the biggest multifamily lenders in the country. In this episode, we discuss the 4 steps you need to do as an investor to get the best experience with your commercial lender. Julie walks us through the process of creating your business plan, knowing your market, building your team, and finding the deals. If you're trying to move into the commercial real estate space, or you've done a few deals but want to scale up, this episode is for you! Learn more about Julie Anne and her journey at reiclarity.com! “As a lender, we are your number one teammates, because we're bringing 75 to 80% of the money to get this transaction done.”   04:56 Julie is the Senior Director of Old Capital Lending and they do over a billion dollars in commercial real estate loans each year. As lenders, Julie's team is bringing 75-80% of the money into the deal.   According to Julie, a common mistake that many new investors make is that they are not doing the front-end work, and only think about the deal from their own perspective. “Net worth, liquidity, and experience are what you'd like to have in a sponsor.“   14:25 There are 4 key steps you should do to succeed in building a good relationship with a commercial lender. Julie explains them in detail.   Have a solid business plan.Figure out what your investors would be interested in. The best way to truly understand what your business plan should be is to ask the market, which is your investors, banks, and people in your industry. Know your market very well.Instead of trying to be present in multiple markets, focus on a specific market, and become an expert in it. Always investigate what is the population growth, job growth, and crime statistics. According to Julie, there are 2 main things that will have the biggest impact on the underwriting - insurance, and taxes. Build your team.Focus on building a good connection with not only your lender, but your underwriter, capital raiser, property manager, and operator. When you vet your GP, look for net worth, liquidity, and experience. Keep your team small and tight. Find the deal.Figure out if the property fits in the business plan, the market, your investors' expectations, and if you can execute the deal. Share your underwriting with your team, to see their perspective on it as well.   After you went through these 4 crucial steps you should be able to succeed with your commercial lender. Julie explains how to get the best lending possible. Find a stabilized deal, that is 90% occupied for 90 days. If you don't have that occupancy, you can still get a bridge loan.   “It all really starts with education. Educate yourself, spend time doing the stuff upfront for the success on the back end.”   48:33 At the end of the episode, Julie picks an action step from the REI Clarity Framework that is the most valuable for her. This is the “Build Your Team”.   Building a great team is critical for every real estate investor's success. Educating yourself is very important because the more you know about the industry, the better team you build. Mentioned in the show: ZOOM at 8 https://oldcapitallending.com/ Her LinkedIn jpeterson@oldcapitallending.com www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Julie Anne Peterson for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Chris Larsen, a syndicator, author, and coach. In this episode, we talk about the 3 main things you can do with your money: make it, keep it, and grow it. We also dig into how to set your goals, choose the right vehicle for financial independence, and build your investing team. If you're an active or passive multifamily investor who is ready to make the right investment choices, then this episode is for you!  Learn more about Chris Larsen and his journey at reiclarity.com! “When it comes to high-income earners, those individuals typically find a skill that's very valuable and focus on it.”   03:37 Chris started his career as a trader in the stock market. He kept earning and losing a lot of money, so after a few years he decided to do something more reliable and less risky. That's when he turned to real estate investing. After a few years of single-family investing, he ended up in multifamily.   Chris is the founder of Next Level Income, a platform helping investors make, keep, and grow their money.  Make Money  Figure out the tasks that you do well and generate the most money. Schedule these things first. Outsource the tasks that you don't want to do or find someone who can do it cheaper than you. Have a tax strategist because your biggest expenses are probably your taxes. Create a correct entity structure. Structure your insurance properly. Keep Money Pick the right financial vehicle for your personality and experience. Build your team. Grow Money “Make sure you're working with people that have that abundance mindset.”   27:38 Chris explains how to build the right team. If you're a passive investor, you need to have people on your team that can help you evaluate the deals. If you're active, make sure that all of your team members stay in their lane of expertise.   It's also very important to work with people with an abundance mindset and who want to grow the business with you. People who have a scarcity mindset operate from fear and will limit your company's true potential.  “If you understand how to do it on the active side, then you're just going to be a better passive investor. ”   32:07 At the end of the episode, Chris talks about how to find the right deals as a passive investor. Always ask yourself the following questions when you're evaluating a deal. Why is this a good market to invest in? What are the pros and cons of that specific market? Who's the operator? What markets have they operated in before? Do they have property managers? What are the assumptions you're making with respect to expenses and vacancy rates? Mentioned in the show: www.nextlevelincome.com The Next Level Income Show His LinkedIn chris@nextlevelincome.com www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Chris Larsen for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Lee Yoder, a multifamily investor and podcaster. In this episode, we dive deep into buying your first multifamily property. Lee shares his 5 steps to success in your first deal, common mistakes and how to avoid them, and why multifamily is the best way to reach true freedom in your life. If you're ready to take the leap into multifamily investing then don't miss out on this episode! Learn more about Lee Yoder and his journey at reiclarity.com! “At the beginning of your journey, ask yourself these questions - Could I do my job part-time? Could I free up some time to do this as a side hustle?”   03:55 Lee started his career as a physical therapist and later worked in a startup company. Here, he realized that he was passionate about numbers, business, and building companies, so he turned to real estate.   Lee got into real estate by flipping a single-family property. He soon bought a duplex, then a 16-unit, and finally a 45-unit property. “The cap rate, what the owners are doing now, that's all how the property is performing right now. I'm much more concerned about how's the property gonna fare in the future. “   08:22 Lee's 5 steps to successfully purchasing your first multifamily property: Getting educated: Books, podcasts, and courses are helpful but you can learn a lot from a flip too. Networking: Be active in your community, join your local RIA, or start a podcast. Understand underwriting: Practice running the numbers 3-5 times a week.   Start building your team: Find a good property manager and get a good lender or mortgage broker. Networking can also help you with that. Start making offers: Put your knowledge into action. There are ways to get out of an offer, so don't be afraid to take this last step.   Focus on the step that is ahead of you and always move forward. By the time you reach step 5, it's not going to look that scary. The hardest deal is always the first one, so whatever you can do to get over the hump is worth it.   Lee talks about mistakes he made along the way and how to resolve them. According to him, always focus on networking and getting good referrals on the people you'd like to work with. Also, make sure you raise more money than you think you'll need because you don't want to go back to investors. “I'm not saying that everybody needs to go full-time in real estate, but you can create passive income with it and really change your life. “   37:48 At the end of the episode, Lee picks an action step from the REI Clarity Framework that is the most valuable for him. This is the “Forecast Your Future”.   Lee loves real estate investing because he can work hard if he wants to but his work is very flexible. This gives him more time to spend with his family.   For Lee, forecasting the future means that he can create freedom for himself and his family and create a better future. Mentioned in the show: https://threefoldrei.com/ Contact Lee Yoder His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Lee Yoder for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is AdaPia d'Errico, a real estate investor, author, and speaker. In this episode, we talk about shifting our mindset and following our intuition. In the first part of our conversation, we dig deep into how to listen to ourselves and make better decisions. We follow that with AdaPia's journey into investing with a limited partner entity, a niche space in syndications. If you're ready to elevate your game in multifamily investing, then this episode is for you! Learn more about AdaPia and her journey at reiclarity.com! “What I realized in all of this is that intuition is subtle, but we are hardwired for it.”   04:03 AdaPia is the author of the book Productive Intuition, where she explains why and how we can listen to our intuition to make better decisions in life. She had a long journey with self-discovery and she wrote the book for people to get centered, aligned, and to trust themselves.   AdaPia always considered herself as a “control freak”. However, over time, she realized that no matter how hard she tried, she couldn't create predictability in her life. She shifted her mindset from trying to control the outcome to controlling her reaction and from being reactive to being responsive.   AdaPia shares her method of connecting to the subtle and trusting yourself. If you're faced with a challenge - stop, breathe, notice your thoughts and feelings, and don't take immediate action. Listen to your body's signals and choose your response. “If you're coming with us, the pro is definitely the underwriting. You get really thorough due diligence.”    24:57 AdaPia is the VP of strategy at Alpha Investing, a private equity real estate company. They present highly vetted institutional quality real estate deals for their investors. And they're a source of capital for operators.   Alpha Investing has a very specific focus on needs-based multifamily. This means affordable housing projects and senior living spaces. Their primary function is to underwrite and they take a 20% performance fee after the investor has received 10% per year. “I really don't think you can get that far if you're not contributing to somebody else's getting far.”   40:21 At the end of the episode, AdaPia picks an action step from the REI Clarity Framework that is the most valuable for her. This is the “Rise By Lifting Others”.   AdaPia recommends always helping others because it's uplifting. It takes us out of the scarcity mindset and puts us into extreme gratitude. You can take this same mindset and use it in business.  Mentioned in the show: https://www.productiveintuition.com/buy-here https://www.alphai.com/ Her LinkedIn  www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to AdaPia d'Errico for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

This show is a big milestone for us because we're celebrating our 50th episode! Today, we share what we've learned from our fantastic guests on the show so far, and walk you through the REI Clarity Framework. These 9 action steps will help you to succeed in real estate, no matter where you are in your journey. If you're ready to reach true freedom through real estate, then don't miss out on this episode! Learn more about the framework at reiclarity.com! The purpose of the REI Clarity Podcast is to create freedom through real estate to be able to do the things that you want to do with your time. During our 50 episodes, we talked to many successful and inspiring entrepreneurs and business owners in the real estate industry. They all had a few things in common, that helped them succeed.   We gathered these things into a 3-pillar, 9-action step framework, that will help you build your business and reach your real estate investing goals. 05:23 Clarity: The first pillar is about mindset and knowledge. Know Your Strategy: Start with a plan to outline your overall strategy. Find the Money: Figure out where your investment money will be coming from. Forecast Your Future: Visualize the future. It will motivate you, and it's the map that lays out your strategy.   09:46 Connections: This pillar gathers the ways to build healthy and valuable connections. Build a Team: The team you are creating is your support crew. Find people you can rely on to give you good advice on certain areas that you may not have expertise in. Establish Your Mentors: Find a mentor whose vision and guidance you trust to lead you through your journey. Grow Your Community: Whatever situation you are in, you always need a supporting community.   17:34 Implementation: This is where all of that inner work is channeled outward. Take the Risk: Find a nice medium between jumping into the deep end and never getting into the water at all. Exit Gracefully: Have clarity on your exit from the start so nothing will be confusing or unexpected when the time comes to exit the deal. Rise by Lifting Others: The people who are supporting you lifting you up. Offer the same level of support to others.  You can download the REI Clarity Framework here to help you on your journey too.   We appreciate you listening to the REI Clarity Podcast and we're excited about the next 50 episodes! Mentioned in the show: Jeremy's LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.      If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Brian Burke, a passive real estate investor, author, and public speaker. In this episode, we focus on limited partner investing by talking about how to find a good deal, what to look out for in sponsors, and how to take numbers and turn them into stories. If you want to know how to make better decisions as a passive investor, this episode is for you! Learn more about Brian and his journey at reiclarity.com! “Real estate syndication is basically a group of people getting together for a common purpose that's led by one individual, company, or organization.”   06:37 Brian has been a passive real estate investor for over 30 years. At the beginning of the show, he talks about the basics of real estate syndication and passive investing.   According to Brian, a good passive investor is someone who has investment goals that align with the business plan of the investment. Passive investing works best for high net worth individuals who plan long-term. Brian suggests diversifying your asset groups and asset classes as well.   The 2 ways to become an accredited investor: Have a $1M net worth that doesn't include the equity in your home. Make more than $200k of annual income in the most recent 2 year period or $300k for married couples. “You don't want to find deals to invest in. What you want to find are sponsors to invest with.”   18:14 Brian explains that the first thing to look at in a syndication is the sponsor who brings the opportunity. Look into how they underwrite, how they approach deals, and what their thought process looks like.   For people who want to become sponsors, Brian suggests building trust. In the beginning, this can be established by working with people they personally know, like friends and family, or by connecting with experienced sponsors and becoming a part of a team.   The key indicators to determine if the deal is good or not: Location: Select markets where people are moving in rather than moving away. The condition of the unit: Look into opportunities to make improvements and create an immediate value. Underwriting: Check if the sponsor's underwriting is achievable or not. “It's all about the story that the numbers are telling and which stories are a fit to your individual needs.”    38:57 The 3 main performance indicators to think about when looking at a deal: The internal rate of return: This is an estimate of the value the property generates during the time frame in which you own it. The cash on cash return: It is the ratio of annual before-tax cash flow to the total amount of cash invested, expressed as a percentage. The equity multiple: It calculates the expected or achieved total return on an initial investment.   No one indicator is more important than the other. It all depends on the individual investor's goals. Mentioned in the show: https://praxcap.com/ Brian Burke - The Hands-Off Investor His LinkedIn https://www.diaryofanapartmentinvestor.com/ www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Brian Burke for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Matt Faircloth, a real estate investor and author. In this episode, we dig deep into the key members you need in your multifamily team, how to set reasonable expectations, scaling fast, and how to exit a deal gracefully. If you're ready to take the leap from single-family to multifamily investing, then this episode is for you! Learn more about Matt and his journey at reiclarity.com! “The mantra for my company is to transform lives through real estate.”   04:41 Matt started his career in sales. He got interested in real estate investing after reading Rich Dad, Poor Dad and started investing in single-family homes.   Now Matt and his wife run a primarily residential real estate company together, but they have some commercial tenants as well. They acquired around 150 single-family units before they took the leap into multifamily.  “There are 4 very distinct activities in multifamily, and different personality traits that fit very well inside those buckets.”   12:26 Matt breaks down the different roles in a multifamily team. He believes that everyone has their own talents that need to be appreciated.   The 4 personality types that should be represented in your GP team: The Hunter: These types of people are good at acquisition. They are good connectors, closers, and negotiators. The Brain: They are good at analyzing deals and running the numbers, so their role should be the underwriter. The Money: They are good at financing and raising capital, so they should assemble the debt and the equity. The Hammer: This type of personality should be the asset manager. They are very driven to implement and fulfill the business plan.    These 4 personality types together can find the deal, create the business plan, finance the deal, and fulfill the plan successfully. “Real estate investing, including apartment buildings, is a marathon. This is not a six-month or two-year type of deal.”   34:07 Matt talks about how to set expectations when you're planning to leap from single-family to multifamily investing.   The 2 paths to choose from: Start on a small scale and double your portfolio every time you do a deal. Document your process and build your team as you go. This way you're financially responsible, but also fully in charge of the process. Think about your talents and find out which of the 4 personality types matches you the best. Then find yourself a real estate team that is either forming or has had some successes, but wants to get to the next level. It's important to have someone on the team that already has experience, so you can grow faster. “The market will pay you a better price for a deal that has potential than a deal where you've knocked out everything that could get knocked out.”   45:03 At the end of the episode, Matt picks an action step from the REI Clarity Framework that is the most valuable for him. This is “Exit Gracefully”.   Matt's advice for a successful exit is to put yourself in the buyer's shoes from the start. Leave some “meat on the bone” for the new buyer, so they can have some opportunity to take it to the next level and add value. You get a better cap rate this way.  Mentioned in the show: https://www.derosagroup.com/ His LinkedIn Matt Faircloth - Raising Private Capital https://www.diaryofanapartmentinvestor.com/ www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Matt Faircloth for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast

Our guest today is Sandhya Seshadri, a syndicator and asset manager. In this episode, we dig deep into how to successfully invest in multifamily. We discuss the 5 key steps to passively invest in multifamily, how to find the best deals, and what to look out for when investing. If you are someone who is either raising capital or has the capital to put into someone else's deal, then this episode is for you! Learn more about Sandhya and her journey at reiclarity.com! “The more you learn and know about something, the less of a risk and gamble it is.”   03:39 Sandhya had a successful corporate career in engineering. At first, she started investing in the stock market as she wanted to get savings on taxes on her capital gains. However, she soon realized that real estate was the best way for her to diversify.   Sandhya chose passive investing in multifamily because she didn't want to deal with the 3Ts (tenants, toilets, and trash). She found this asset class to be the safest because apartments are a fundamental need.  “You should roughly make $200k on a $100k investment today, within a five-year span.”   09:57 Sandhya shares her 5 key steps to take to succeed in passively investing in apartments.   Clarify your financial goals. Remember that any real estate investment in multifamily is not going to be liquid, so you won't have access to those funds for 3 to 5 years.  Define your overall personal goals and strategy. Your strategy should be different if your plan is to leave your day job or you just want to invest on the side.  Vet your sponsorship team very carefully, especially if you plan to stay as a permanent passive investor. Find a sponsorship team with a strong track record in a market that is going to be cash flowing. Social media and podcasts are a great way to network, find sponsors, and dig deeper into their track records. Choose a market that has a diversity of jobs and is landlord-friendly to minimize your risk. The market is one of the most important things when analyzing a deal. Sandhya's advice is to factor into your market study the median household income within a 1-mile radius. Plan your financials off of the deal. Sandhya suggests conservative underwriting. This means you want to have an exit cap rate that is higher than your entry cap rate by at least .75 to 1 point. Validate every number by having the sponsors justify them. “You need mentors to help you accelerate your path.”   50:09 At the end of the episode, Sandhya picks action steps from the REI Clarity Framework that are the most valuable for her. These are “Establish Your Mentors” and “Take the Risk”.   Establishing your mentors can start with books or podcasts. You can figure everything out on your own, but it's way faster with mentors to learn from. The more you get educated and the more knowledge you have, the lower the risk is.  Mentioned in the show: multifamily4you.com Sandhya's free checklist to vet a sponsorship team Her LinkedIn James Kandasamy - Passive Investing https://www.diaryofanapartmentinvestor.com/ www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Sandhya Seshadri for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast Show produced by Eni Horvath

Our guest today is Brian Briscoe, an apartment syndicator and podcaster. In this episode, we dig into the 4 crucial elements of any investment strategy: assets, market, team, and deal. Brian shares his strategy, the right mindset for an investor, and what he learned as a Marine that you can use in your business as well.  Learn more about Brian and his journey at reiclarity.com! “You really need to have that same mindset with multifamily investing or creating a business as in the military. There's no other answer besides getting it done and succeeding.”   03:12 Brian served as an active duty US Marine which helped him to create a “never give up” attitude. He has this mindset in his real estate business as well and for him, success is inevitable.   According to Brian, the traits that successful investors portray are confidence and honesty. If you have the right strategy, trust in yourself, and understand the value that you're bringing to your investors then you will succeed. Be honest with people and don't push deals on them that are not a good fit. “At the end of the day, you have solid returns for a relatively low amount of risk and that's what drives me to multifamily.”   13:11 Brian digs into his strategy based on the REI Clarity Framework. The 4 main elements of every good strategy are assets, market, team, and deal.   Assets: Brian is committed to the multifamily asset group. There's always going to be a demand for shelter and it is proven to be the most resilient for downturns. Markets: Brian is looking for markets that have strong tailwinds. Based on nationwide trends, money is moving from high cost of living areas to low cost of living areas, from urban areas to the secondary and tertiary markets, and from North to South. Team: Brian's advice is to have like-minded people in your team of operators that are committed to providing value. Find one trusted service provider who can suggest other great service providers to you. Deal: You make money on a deal by solving problems. Brian suggests finding out how to add value to the property and doing a lot of underwriting. You could underwrite 50-100 deals until you come across a good one. “Whenever you're in a position where you're doubting yourself, the best way to get out of it is to be proactive.”   31:36 At the end of the episode, Brian talks about mindset. He suggests discovering your “big burning why” because that will always drive you forward and won't let you quit.    Brian choose multifamily investing and stopped being an active duty Marine because he wanted to be more present in his family's life and have more time freedom.  Mentioned in the show: https://www.fouroakscapital.com/ His LinkedIn https://www.diaryofanapartmentinvestor.com/ www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Brian Briscoe for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast Facebook – Twitter

Our guest today is Chris Ressa, a retail investor whose, company DLC Management, operates and manages thousands of units of retail properties. In this episode, we talk about the future of retail, the crucial parts of a commercial real estate team, and the best ways to invest in different asset classes. If you're planning to take the leap from residential to commercial real estate investing, this episode is for you! Learn more about Chris and his journey at reiclarity.com! “I like to solve challenges people think are unsolvable and do what is considered undoable.”   06:40 Chris's company owns open-air shopping centers and strip malls with thousands of units of retail properties. In retail, leases are generally more complicated, long-term, and challenging.   In the commercial real estate industry, there are more legal decisions to make than in residential, but Chris encourages every business owner to make their own business decisions. The business decision-makers should be moving the strategy forward and the legal advisors should make sure that the business decisions are sound. “I recommend business owners to hire W-2 employees when they've got the capital behind them to grow the business, or when it's too hard to manage the third-party service providers because they're too successful.”   25:28 Chris talks about some reasons to get into the commercial real estate space: It's an alternative investment, so you can diversify your portfolio. Depending on the type of commercial real estate, the leases can be set up in a way that they are pure mailbox money for many years to come. The return profile can be very good.   Chris is operating a large business with around 130 employees. According to him, the key to success is to have a great team. In the beginning, he doesn't recommend hiring everyone as a W-2 employee, because it is much more sustainable to have third-party teams.    When your business doesn't just invest in - but owns real estate, that is when you should have W-2 employees who only work for you.   Chris recommends always having someone in your team who helps you identify opportunities and someone who helps you finance deals. “Everyone shops online and no one shops at the store anymore. So the first thing is... that this is not true.”   48:57 Even though recently it is said that retail is struggling, Chris explains that it is not true. 85% of sales are still done in physical stores even during the pandemic. The cost of entry is way lower to start an online store, however, the stores that have a physical presence can scale better.   Groceries, material, and value items are expected to stay mostly in brick-and-mortar stores and not move to the online space any time soon. 57:31 At the end of the episode, Chris picks an action step from the REI Clarity Framework that is the most valuable for him. This is the “Build a Team”.   The number one thing he is doing every day when it comes to his team is connecting with them and making sure that he helps them grow their careers. He is trying to remove obstacles in their day job. Mentioned in the show: https://www.dlcmgmt.com/ His LinkedIn Retail Retold Podcast www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Chris Ressa for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube – Blog – Podcast Facebook – Twitter

Our guest today is Billy Keels, an international real estate and real assets investor. In this episode, we talk about long distance investing strategies, the importance of your team, and how to get clear on the asset that works best for you. Whether you're investing in your backyard, or out of the country, this episode will help you gain more clarity on your strategy! Learn more about Billy and his journey at reiclarity.com! “You can invest wherever in the world in whatever type of assets make sense for you.”   04:44 Billy had a successful career as a high-level sales executive. After having his investments fluctuate on the stock market, he read Rich Dad, Poor Dad and decided to start real estate investing.    Billy was living in Spain and first thought he would buy an apartment in Barcelona to start his investing journey. However, he soon realized that he could invest in the United States as well.   Now, he has real estate and real asset investments all over the world because geographic freedom is very important for him. His diverse portfolio contains large multifamily syndications, mobile home parks, pieces of equipment in the energy space, and ATM machines. “Everything starts with - what is it that you want this asset to provide you?”   08:26 According to Billy, to become a successful long distance investor you need to: Invest the time to understand the location. Know the team and make sure they know the location as well. Make sure the operator is in town or physically close to the property.   In the episode, Billy talks about the similarities and differences between the syndicator, sponsor, general partner, and operator.  The syndicator, sponsor, or general partner are the ones who bring the capital together. The operator is the one who's operating the deal on a daily basis. “There's a lot of value in being able to understand who are the absolute best operators in a specific area, and then being able to connect them with investors who are interested in finding the best opportunity for their capital.”   34:24 Billy is a big advocate of diversifying your assets. As a syndicator, he connects operators and investors. Having diverse assets help him offer more diverse opportunities.   According to Billy, if you are offering different types of assets, you can find more investors and still be specific with your offer. “Teamwork makes the dream work”   39:40 At the end of the episode, Billy picks action steps from the REI Clarity Framework that are the most valuable for him. These are “Know Your Strategy”, “Build a Team”, “Establish Your Mentors,” and “Rise by Lifting Others”.   For Billy, building your team means everything because being a long distance investor would not be possible without it. Building lasting trust with the team is crucial for successful investing. Mentioned in the show: https://www.growyourmoneythesmartway.com/ billykeels.com energy@billykeels.com Going Long Podcast with Billy Keel‪s‬ His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Billy Keels for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Edna Keep, a real estate investor, author, and coach with around 600 units of multifamily. In this episode, we talk about her 5 steps for attracting investors, setting yourself up to succeed in multifamily, and how to cashflow $5k fast. If you're ready to take the leap from side-hustle to full-time investing, then this episode is for you! Learn more about Edna and her journey at reiclarity.com! “Within 18 months, we were inducted into Robert Kiyosaki's Hall of Fame because we had purchased 50 doors and hit our $5000 a month goal.”   02:43 Edna was a financial advisor in Canada and started real estate investing in 2001 by pulling equity out of her house. She picked up 144 units early on in her journey and became a full-time investor.   Edna's advice on how to be successful in REI from the start is to work with a professional mortgage broker. “I've never wanted to be the managing partner because I don't claim to be the expert in that area. But you can't close the deal without the money. So that was what I was able to bring to the table.”   09:11 Pulling the equity out of Edna's home allowed her to buy 2 condo units which were only cash flowing $800 a month. She used creative financing, like vendor and investor financing to reach $5k a month in just 18 months.   For the 144-unit apartment complex, she partnered up with someone in her training course who was able to find the deal but couldn't finance it. As Edna was a financial advisor, she was able to find the money and the deal ended up a huge success for everyone involved. “It's easier to manage one building under one roof, and it's reduced risk because you got 10 or 12 people paying the mortgage instead of 1 or 2.”   18:39 Edna has a 5-step investor attraction system.   Have the right mindset: You have to understand that you can bring a lot of value to the table even if you don't have money. You can find or manage the deal. Start thinking bigger: Instead of purchasing multiple single-family homes, look into multifamily options for better cash-flow and easier management. Know how to find and analyze a deal. Get a coach who's done what they're teaching you. Get around like-minded people who can support you on your journey. This includes your team as well.   According to Edna, if you have all these 5 steps aligned, the money will come and investors will want to work with you.  “You make money only if your investors make money.”   41:58 At the end of the episode, Edna picks action steps from the REI Clarity Framework that are the most valuable for her. These are “Establish Your Mentors” and “Rise by Lifting Others”.   For Edna, “Rise by Lifting Others” means educating the people that you're interested in investing with, so you can all make an educated decision. The first time you try to get investors to invest with you is the hardest, so as long as you're helping them invest in the deal, you will have plenty of investors in the long run. Mentioned in the show: https://ednakeep.com/ Her LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Edna Keep for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Adam Adams, a multifamily investor and podcaster. In this episode, we talk about growing your brand, building lasting influence in your industry, and why podcasting might be the best way to network. If you're ready to become a thought leader and build a strong presence in your industry, then this episode is for you! Learn more about Adam and his journey at reiclarity.com! “I would say that real estate is pretty much the biggest, and most common people business.”   05:00 Adam talks about the importance of building a brand as a real estate investor. Real estate is a people business, so the best way to get to know as many people as possible is to have a strong brand and build a community around it.   According to him, people have to go through 4 steps before they decide to invest with you. They get to know you first, then like you, trust you and eventually be ready to work with you.    Therefore Adam suggests thinking backward, and focus on networking. In his experience, if you want to have 1 deal, you've got to have 10 people who trust you, 100 who like you, and 1000 who know you. “When you have your own thought leadership platform, you're going to be booked on so many other podcasts so much easier. And it's going to be less costly as well.”   08:27 Adam shares his 3 pillars of influence that will help you to get in front of people as the first step of your funnel. Have a thought leadership platform: This can be a podcast, a book, a Facebook group, etc. Meet in person: Organize a meeting, a conference, a workshop offline or online. The goal is to meet people face to face. Build your social media presence.   The fastest way out of these 3 pillars is to have a thought leadership platform, and the best way to that is to start a podcast. “If you have the financial means to outsource and work on the business instead of in the business, so on the podcast, instead of tedious editing, that'll be a huge help for you.”   18:26 Although there are approximately 1.9M podcasts as of 2021, it is still a growing market. Every business owner has a place in the industry, you just need to know your avatar, and be consistent.   For business owners who want to start a podcast, Adam recommends outsourcing the production, and do at least 1 episode a week. Consistency is key when trying to get onto the podcast charts, so streamlining your production is important. 39:30 At the end of the episode, Adam picks action steps from the REI Clarity Framework that are the most valuable for him. These are the “Know Your Strategy”, “Find the Money”,  “Grow Your Community”, and “Take the Risk”.   Out of these 4, “Find the Money” is the most important step according to Adam, even more important than finding the deal.    The steps to take before finding a deal: Get educated. Find a strong market. Build out your team in that market. Raise the money and try to get at least 66% pre-commitments. Find a good deal. Mentioned in the show: https://realbluespruce.com/ growyourshow.com www.shineinsurance.com/reiclarity   The REI Clarity Framework   Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Adam Adams for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Maurice Philogene, a real estate investor and coach, public servant, federal agent, and philanthropist. In this episode, we talk about having the right mindset and systems, the 5 types of freedom, and why you need systematic patience if you want to be successful in investing. Learn more about Maurice and his journey at reiclarity.com! “If we're not growing or expanding as people, then we're contracting.”   04:11 Maurice achieved solid financial success even before he started real estate investing. He traveled to 96 countries, served as a police officer, and had a consulting career.   The 2 main reasons why he started real estate investing were the challenge and the passive income. Maurice started investing when he was 23 and over the years he built a portfolio of 35 single-family homes.   According to Maurice, the most important thing in real estate investing is systematic patience. Many people are not patient enough to wait 10-12 years to be able to live off of their passive income.  “I would rather make 5000 bucks a month passively than make 300 grand a year non passively and have to be in an office”   15:36  Maurice talks about the 5 types of freedom. He says if we can focus on one or more of them, we tend to be happier as people.   The 5 types of freedom: Financial freedom: For Maurice, it's coming from the passive income he makes. Time freedom: An example is Tim Ferriss' 4-hour-workweek. Geographic freedom: Maurice doesn't have a physical office or employees because he wants to be able to work from anywhere in the world. Freedom of purpose: For him, it means doing something impactful and help people. Freedom of relationships: To be able to connect with interesting people and leave toxic relationships behind.   These freedoms can mean different things to different people and the way of achieving them varies.  “I want to be the first person in my family who leaves a significant legacy. So I've moved into the realm of how I can be the best philanthropist that I can possibly be.”   24:56 Maurice has a 4-pillar framework that he uses in real estate investing. People: He wants to help people with his business. Properties: He only purchases properties that match his investing goals. Profit: This supports his freedom and purpose.  Philanthropy: It's important for Maurice to take the revenue his company is creating and put it towards something bigger to give back to people.  “Mentors accelerate you”   30:50 At the end of the episode, Maurice picks 2 action steps from the REI Clarity Framework that are the most valuable for him. These are the “Build a Team” and “Establish your Mentors.”   Building a team was very important for Maurice because he could only begin multifamily investing by having a great partner and a reliable team. He took the leap and now has 9 large multifamily complexes in his portfolio.   According to Maurice, he has a mentor for everything. He recommends investing in yourself because mentors accelerate you. For people who don't have the ability to financially invest in a mentor, books and podcasts can be a good starting point. Mentioned in the show: https://www.thequattroway.com/ His LinkedIn His Instagram www.shineinsurance.com/reiclarity   The REI Clarity Framework   Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Maurice Philogene for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is John Blanton, a successful sales executive and real estate investor. In this episode, we dig deep into the power of mindset and talk about knowing your strategy, understanding your desired outcome, and experiencing it little by little. If you want to think different, earn different, and live fulfilled, this episode is for you! Learn more about John and his journey at reiclarity.com! “What do we really want as the outcome? Not what's the input, but what's the outcome? And then how do we start working back from that?”   04:55 John grew up in a family where his father was working so much that he wasn't around most of the time. Therefore, John's goal was always to be more present in his children's lives.   He started his career in personal training and coaching in club baseball, but he didn't have the free time that he wanted, so he transitioned to sales. He started to make a lot of money, but he still wasn't satisfied with his journey. Eventually, John decided to start real estate investing so he could achieve financial freedom and have enough time with his family.   According to John, it is very important to figure out what we really want and not to just follow society's expectations. His “Why” is to live a purpose-driven, fulfilled life where he can be present with his family. “The biggest factor to defining your purpose and your “Why” is your risk tolerance.”   12:50 John recommends starting with the end goal and desired outcome in mind and then work backward from there. This will define your strategy.    Many people have financial freedom in mind when they think about their end goal. John mentions 2 paths to achieving financial freedom: Minimize your expenses significantly. Find a way to increase the velocity of your capital and grow your income.   John's advice on how to take the leap as a young investor: Networking is key. Find a way to make more money. Wholesaling or side-hustles can be a good idea. Be honest with yourself and become clear on what you truly want. Celebrate your accomplishments.   According to John, the best entrepreneurs are not necessarily the best risk-takers, but they're the ones that are the best at mitigating their risk. Mentioned in the show: Brian Burke - The Hands‑Off Investor Adam Grant - Originals https://www.contrariancashflow.com/ https://www.peakcapitalgrp.com/  www.shineinsurance.com/reiclarity   The REI Clarity Framework   Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to John Blanton for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Allison Weiss, a commercial real estate recruiter. In this episode, we talk about building your team, how to work on your business instead of in your business, and how to find great people for your CRE team. If you're ready to put down a solid foundation for your business and scale, then this episode is for you! Learn more about Allison and her journey at reiclarity.com! “I certainly bring my creativity to what I do every single day.”   01:36 Alison started her career as an art teacher. After 9/11, art was the one thing that helped her cope with the situation and made her realize how art can help other people too. She says that both art and teaching shaped her view on commercial real estate investing.   Now she is bringing people into the commercial real estate space. She grew up in an environment where she could learn a lot about how businesses function and this led her to eventually choose commercial real estate. She works with boutique and entrepreneurial firms that have greater aspirations for growth. “Think about what are the things that really fit into your zone of genius”   08:33 Allison's advice on some of the first steps someone can take towards building a strong business foundation: Write down all the business processes and daily tasks for your business. Then take a step back and think about which things on the list fit into your zone of genius. Try to spend 80% of your time with the things that are in your zone of genius. Then tackle the tasks you dislike the most through outsourcing or automation.    Allison also talks about the next step which is ow to build your core team: Identify the different parts of your business and build systematic workflows to the best of your ability. Evaluate them often to see where the bottlenecks are. Is it the systems that you have in place, is it the people, or is it the bandwidth that's creating the bottleneck? Aim to work on your business and not in your business. “I think sometimes we unnecessarily complicate things.”   31:39 Allison has some great advice on how to work towards the goal of working on your business instead of in your business: Have discipline in creating habits and frameworks that you use to approach your day Focus on the first 2 hours and the last 2 hours of the day. Have non-negotiables in your life Create boundaries around when you do certain things   If these are too overwhelming for you, Allison recommends choosing just 1 thing and try to implement that. Once it becomes a routine for you, you can move on to the next thing.   According to Allison, she is not a traditional recruiter but more of a matchmaker for CRE businesses. She believes that if companies put their people first, the property aspect of the business takes care of itself. She wants to make commercial real estate a great place for everyone and to foster alignment between CRE companies and their employees.  “The biggest difference for me and in my career are introspection and execution.”   45:04 At the end of the episode, Allison picks an action step from the REI Clarity Framework that is the most valuable for her. This is the “Forecast Your Future.”   Forecasting her future means introspection and execution for Allison. She spends a lot of time envisioning how she wants her life to look like from both a business and a personal standpoint.    She recommends finding your endpoint, visualizing your endpoint, and then creating steps towards it.   Mentioned in the show: Her LinkedIn https://www.creatwork.co/ https://www.crerecruiting.com/ www.shineinsurance.com/reiclarity   The REI Clarity Framework   Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Allison Weiss for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Today I'm chatting with Jeremy Goodrich from the REI Clarity podcast: https://reiclarity.com/ Apply to be a guest on Let's Talk About Your Podcast: https://www.transformationcoach.me/interview-application

Our guest today is James Kynes, the broker CEO of Rushman Moore Real Estate Group, who specializes in tenant representation and business brokerage. In this episode, we talk about how he helps to connect businesses with the right buildings, how you can set up your properties to be attractive to businesses, or how to package your company to sell it to other people. Learn more about James and his journey at reiclarity.com! “What brought me to real estate was actually the love of transactions.”   03:23 James started his career in sales and business development. He also worked in the entertainment industry and ran a barbershop. Soon, he realized that he liked business to business type of work the most. Eventually, he had an opportunity to work with a group of business brokers, but first, he needed to get his real estate license.   James had many connections from his successful barbershop which helped him make the transition to business brokerage. “We help position our clients for better deals or better locations to be more desired by landlords.”   17:10 James got interested in tenant representation in commercial real estate when he completed a class on the topic. He realized that it really fit his background and experience as he had a large network.   Being a tenant rep means connecting commercial retail, land, or industrial spaces with quality tenants to help the investors become more cash flowing and improve the property. James represents the tenant and helps them with strategies and branding to find the best spaces. This also helps the landlords to have solid, reliable businesses in their spaces.   The landlord pays a commission fee on the transaction, usually 6%, that's split 50/50 between the landlord's representative and the tenant rep.    According to James, tenants are looking for these top 3 things in a commercial property: Great location Fits their budget A fair, knowledgeable landlord “You have to have a dream that's big enough that you can fit somebody else's dream in it.”   36:02 At the end of the episode, James picks an action step from the REI Clarity Framework that is the most valuable for him. This is the “Grow your community.”   James's advice is to get involved in your community and get into the mindset of giving back. For example, he began volunteer coaching to add value to other people's lives.   According to James, it is helpful to be a part of professional groups as well, but make sure that you are not the most experienced and knowledgeable person in the room, so you can keep learning. Mentioned in the show: http://www.getstartedwithrushmanmoore.com/ james.kynes@rushmanmoorereg.com His Phone number: 6783602744 His LinkedIn www.shineinsurance.com/reiclarity The REI Clarity Framework Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to James Kynes for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Josh McCallen, a hotel flipper and investor. In this episode, we talk about what it means to run and flip resorts, how he has navigated this strategy through COVID, and how you can elevate your business and investment strategy. This conversation is going to help you move from motivation to momentum and find the clarity to take action. Learn more about Josh and his journey at reiclarity.com! “Now it's the worst and also the best time in history. It's a Warren Buffett time to buy resorts.”   04:29 Josh started his real estate career as a beachfront house flipper and developer for a very high net worth person. They were very successful, but when the '08 crash hit they had to close the business.   A few years later, as the recession was quieting, Josh reconnected with his partner, who had already moved to buying old Jersey Shore hotels. This is how he got into the industry.   While working on their investing strategies and learning how to successfully flip resorts, hospitality became Josh's life calling. Their hotels are some of the best in all of America. “We make revenue from 5 to 8 revenue streams all the time, at the same time.”   11:45 Josh's advice on how to create incredible value and service, no matter if you are a hotel flipper or a multifamily investor, is to always have multiple revenue streams. Josh has 5-8 revenue streams all the time. This can be golfing or waterfront experiences that add to his hotels' value. They force appreciation and increase NOI through revenue.    Josh made many profitable changes in his resorts during the pandemic. For example, he created an outdoor dining space for social distancing. They also had many weddings that were pushed to 2021. They didn't refund anyone, just rescheduled the weddings so they didn't lose money. “Everybody's got to make hard, tough tactical choices every day. And yes, if you know where you're going, I think you can handle those rocky roads.”   35:46 According to Josh, the best way to elevate a business or investment is to have clarity. Get clear on what you are called to do or what makes a true impact, and follow that.   The 3 main pillars of how he operates his businesses: Culture: Josh always aims for what is best for their guests. He only hires people who find joy in their work. Hospitality: The words hospitality, hospital, and hospice have the same Latin origin. Josh incorporates the same level of care in his hotels that nurses have in a hospital. Ministry: His goal in everything he does is to make the guests feel loved.   Josh says that everybody makes moves in their business for 2 things, either to create impact or to create income. The people that really achieve a lot are the ones that are shooting for impact because the money and the income is just the added benefit.   Mentioned in the show: http://accountableequity.com/ His LinkedIn  www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Josh McCallen for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Cody Payne, an office and industrial investment specialist. In this episode, we dig deep into the office and industrial asset class, talk about the dos and don'ts, and the best ways to invest. If you want to know how to invest in office or industrial during the pandemic or how to build relationships with brokers to get the best deals, this episode is for you! Learn more about Cody and his journey at reiclarity.com! “I don't like having a tenant that has more than 15% or 20% of the building. Because in the event that they leave, you're in trouble.”   03:24 Cody specializes in the office and industrial asset classes. Recently, he sees many multifamily investors getting interested in commercial investing as the entry barrier is much lower due to the pandemic.   Cody's advice on how to invest in office the right way:  Invest in multitenant offices, because the risk is spread out more. If it's possible, don't let a tenant have more than 15-20% of the building. This way, vacancy is not that risky and the lease rolls better too. Try to find a space that is around 2-5000 sq ft.   Investing in office space in the middle of the pandemic can be risky. Therefore Cody suggests focusing on smaller businesses like lawyers, accountants, or similar general businesses. He suggests staying away from technology companies, where they can work from home and the larger national companies because their leases in some cases are very long. 19:40 What to look out for when investing in industrial buildings   Know the area very well where you plan to invest. Understand your risk: know what to do if the building becomes vacant, or if the building needs a bigger renovation. Keep it as minimal office as possible, around 10-15%, to minimize the cost. Find a specialist who understands the product, because office and industrial buildings are one of the most expensive asset classes to operate. “What we like is a strong, credible, “ready to execute” buyer.”   29:25 Cody talks about the ways to find the best brokers for your deals and how to build a good relationship with them.  Specify who you would want to connect with. In the office and industrial space, it is important to look for a specialist instead of a generalist. Create a list of the best specialists in the town where you want to invest in and contact them. Instead of just asking, always provide value. If you are a new investor, find an experienced team to be credible for the brokers.   According to Cody, the 3 main things that can ruin the relationship over time are not being a serious buyer, reliable, or responsive. Mentioned in the show: https://texasofficeinvestments.com/ His LinkedIn www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Cody Payne for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Javier Hinojo, an investor who went from 0 to multiple multifamily properties in less than 5 years. If you are an investor who's just getting started and wants to know what your REI journey could look like or you're ready to jump from the single-family space into commercial real estate, Javier has a ton of great information to share with you! Learn more about Javier and his journey at reiclarity.com! “Just follow a proven system, find somebody that's doing it, then do what they're doing and actually do it better.”   03:11 Javier started his investing journey through the Rich Dad, Poor Dad seminar that he attended with his friend. He already made his first deal halfway through the seminar with his partner.    Soon they were doing 50 flips and 80+ wholesales a year. According to him, you don't have to reinvent the wheel in real estate, you just have to find a mentor and do what they do the best you can. Don't be afraid to take risks. “I felt like I was scaling to unhappiness, and I couldn't do that.”   06:48 Javier talks about the pros and cons of flipping and wholesaling.   Flipping: Pros: It can make a lot of money fast. Cons: It is very hard to only work on the business and not in the business, and most of the time it becomes a job. Flipping also doesn't provide long-term wealth.   Wholesaling: Pros: It is risk-free as you are essentially just selling paper. It is very lucrative financially. Cons: When wholesaling, you don't have a real estate business but a sales and marketing company. If you don't love sales and marketing you will not like wholesaling. It still doesn't provide long term wealth.   Eventually, Javier realized, that he wanted long-term wealth for himself and his family. He sold his single-family portfolio and started buying apartment buildings. His first deal was a 63-unit multifamily. “The biggest thing in a partnership, just like in a marriage, is that you got to set the expectations upfront.”   22:00 Javier's advice on how to build your strategy when you're transitioning to commercial real estate: The most important part is to believe in yourself and that you're capable, so you don't get in your own way. Network. Connect with people you want to learn from and offer them help, instead of just asking for advice. If you feel like you can't do it by yourself, partner with someone who is totally different than you but has the same vision. 29:13 Javier's last investment was a 116-unit mobile home park that's worth around $4M. With the purchase price and the value-add moves, it costs around $1.4M-$2M, so it was a great success for Javier.   His advice about mobile home parks is to always go bigger because those have better loan options. Also, to find a very good deal, so even if things don't go as you planned, you still make money. Mentioned in the show: https://www.allstatescapitalgroup.com/ His LinkedIn His Facebook Billion Dollar Multifamily and Commercial Real Estate Facebook Group His Instagram www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Javier Hinojo for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Mike Fritz, an REI coach, leadership speaker, and podcaster. In this episode, we're digging into the relationship between general partners and limited partners in syndication deals for multifamily. If you want to know the process that an LP should go through to find the right deals or you are a GP and want to know how to do it better, then don't miss out on this episode! Learn more about Mike and his journey at reiclarity.com! “Real estate is one of the safest and best ways to build wealth and get to that financial freedom”   03:45 Mike is a general partner in multifamily and commercial deals. According to him, real estate is one of the best ways to build real wealth. It can create a continuous cash flow and multifamily deals generally have a strong recession resistance.   Mike's way to decide where to invest in multifamily is to take these 3 factors into account: Job growth  Population growth Landlord-friendly location. This means it allows the removal of a tenant if they're not paying rent and unwilling to get assistance.   Mike's advice is to always follow job growth in multifamily investing, as that is the most important factor. He loves to invest in the Mid-West and has all his investment there because the market is stable. “I'm not willing to say you know what, let's just risk it. I make sure we have a proven track record.”    20:19 Mike talks about how to find the best deals as a limited partner. It is very important to have a good connection with the general partner and ask the right questions. These would be: Why the GP chose this deal? What class property it is? - Class D properties are not recommended because of appreciation and rent collection perspectives. What are the systems of communication? - That will tell a lot about the operator. How do they analyze deals? “If you're trying to find a GP that's never had a bad deal, you're gonna be looking for a long time.”   29:25 Mike recommends choosing a general partner who has good experience but is still motivated. They don't have to be someone who's done thousands of units. A proven track record and a good personality can go a long way.   Mike talks about the 3 ways that a passive investor should expect to see funds in their journey through multifamily syndication: Monthly cash flow: this comes from the rent and fees. Equity on sale: whatever percentage you own of the syndication, you get that percentage of the profit. A hybrid of the 2: the GP force appreciates the building, refinances it, then returns 100% of the money to the investors. They still get cash flow but they have no money in the deal anymore.    Mike uses the third approach in his company. He says, that the only downside is that the investors do have to leave 20-30% of their equity in the deal to leverage this opportunity. Mentioned in the show: His LinkedIn http://titaniumcapitalhq.com/ mike@titaniumcapitalhq.com Power Up Your Real Estate Podcast Gary W. Keller and Jay Papasan - The ONE Thing www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Mike Fritz for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Ricky Beliveau, a real estate investor with millions of dollars of assets and multiple development deals in Boston. In this episode, we talk about what it really means to be a developer, how to move from side-hustle investing to bigger development deals, and why a developer shouldn't do construction. Learn more about Ricky and his journey at reiclarity.com! “By that point, it was cash flowing over $6000 a month over the mortgage. And then I was off to the races.”   03:17 Ricky studied finance entrepreneurship in college and fell in love with real estate investing through one of his classes.   His first deal was a 3-unit multifamily, where he did a house hack so he could live rent-free. Then he renovated the building in 12 months, and the property became cash flowing over $6000 a month over his mortgage.   According to Ricky, the 2 best ways to make a property more cash flowing is to either add more value to it or increase the rent. He has a strategy on how to successfully talk to tenants about rent increases that he shares in the show. “The basics of development is adding additional value to a property through the uses of zoning or permitting”.   16:44 After his first successful rental properties, Ricky got into condo conversions. This meant that he bought a 3 family property, did the renovation, then split the single deed into 3 deeds, and sold them as 3 individual condos. This led him to do real estate projects, which eventually ended up in development.   At first, he sold the whole property and had no involvement after closing, but now he also has a property management company and manages the association into the future.   According to Ricky, a development deal is adding additional value to a property through zoning or permitting. Zoning or permitting deals usually works best on off-market properties, because it takes 24 months to finish.   “A true developer never does construction”    35:20 Ricky learned from his mentors that a developer's job ends at the development so they should exit before the construction phase. However, he works with a general contractor who does the construction to further increase the profit on the deal.   Ricky's development process: Acquire the property Develop with zoning or permitting  Build with the help of a GC Sell or hold, or do both by staying as the property manager Mentioned in the show: http://www.volnaycapital.com/ ricky@volnaycapital.com https://www.instagram.com/volnaycapital/ Christopher Voss and Tahl Raz - Never Split the Difference Ryan Serhant - Sell It Like Serhant www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Ricky Beliveau for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Boone Tyson, a real estate investor in Texas. In this unusual episode, we go through one of his specific deals and talk about what went wrong with it, how he solved it, and how we can all learn from his experience. If you deal with insurance and want to make sure that it's actually going to take care of you in a claim scenario, then this episode is for you! Learn more about Boone and his journey at reiclarity.com! “I got a call at like 3 pm or 3:30 pm that the house was on fire.”   03:46 Boone is a real estate investor in Texas with a portfolio of cash flowing properties and flips.   In February 2020, he closed on a deal that he purchased from a wholesaler for around $85k.    Due to the emerging pandemic in March, the work got delayed significantly, but luckily, they were able to put the property under contract for $165k. Unfortunately, just a few days before the closing date, Boone got a call that the house was on fire. The vast majority of the main living area of the house was damaged. Boone had to act fast, so he stopped the deal to avoid lawsuits or any more inconvenience. “I really expected our insurance agent was just gonna go to bat for us, and that's not what happened.”   17:03 After the accident, Boone called his insurance company and filed a claim. The insurance process lasted for around a month.   Over time, Boone noticed that the relationship with their local insurance agent became dodgy. They didn't receive as much help as they needed. He now knows that the insurance agent sold them a rental policy instead of a flip policy and that caused many problems. “The opportunity costs on this were bigger than anything else.”   32:25 After all this went down, Boone had around a $25k loss instead of a $35k profit.   His idea was to flip 2 houses and by the time they are finished, the damaged one would break even. This would take around 6 months.   Eventually, they connected with an independent insurance agent and were able to put the property under contract as well.   Boone's advice on how to avoid what happened to him: Ask the right questions and fully disclose the nature of your business. Work with an insurance broker instead of an insurance agent of a company. Get over your ego and realize when you should move on from a deal. Mentioned in the show: His LinkedIn His Email Boone Tyson on BiggerPockets www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Boone Tyson for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Reed Goossens, a real estate investor with more than $250M worth of assets. In this episode, we talk about how he became successful in just 8 short years, the pros and cons of multifamily investing, and the different roles you have to play as an investor. If you are ready to take the leap and become a powerhouse multifamily investor, then this episode is for you. Learn more about Reed and his journey at reiclarity.com! “What drives me is the fear of regret.”   03:56 Reed was born in Australia and started his career as a structural engineer in London. In 2012, he moved to New York and started his real estate investor journey.   He was always adventurous and knew the importance of taking risks. This is one of the reasons why he got successful in his real estate investor business. “You got to understand that the higher the cap rate, the higher the risk.”   08:14 After moving to the US, Reed realized that the real estate opportunities were much better here than in Australia. He got interested in multifamily investing after reading Rich Dad, Poor Dad, and 6 months after arriving, he already made his first deal. It was a triplex for $38k in Syracuse, New York.   The big lessons he learned from his first few deals:   Always do your due diligence and find out why a deal is unexpectedly cheap. Diversify your portfolio to spread out the risks and get a more balanced stream of cashflow. Know your ideal clients and the direction for your business. Focus on your personal branding. Let your clients know who you are so they can trust you. The team is the most important in your business, so be very specific about their roles and responsibilities. “The bigger the pie, the more to share.”   28:45 Reed likes to invest in larger multifamily deals because they are more scalable. According to him, the benefit of that is that when there's more money involved, it tends to attract more professional contractors.   It also comes with a lot more risks, so Reed works in syndications where the risk is shared.   Reed's advice on how to take the leap from single-family investing to multifamily:   Build a reliable and strong team. Invest in a good coach or mentor to get clear on the process. Work with someone on the first couple of deals who has more experience, so you can learn and share the risk as well. Mentioned in the show: https://www.reedgoossens.com/ His LinkedIn https://wildhorncap.com/ 10000 Miles to the American Dream Investing in the U.S. book Kevin Harrington, Daniel Priestley - Key Person of Influence www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Reed Goossens for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Agostino Pintus an investor in the Cincinnati area. In this episode, we talk about how to structure a business and dig deep into the importance of having the right mindset and how to manifest success in your real estate investing work. If you want to shift your mindset and work through your mind's limitations, then don't miss out on this episode. Learn more about Agostino and his journey at reiclarity.com! I was a C-level executive at a publicly-traded company. Looking at it now, it did give me an advantage about setting up structures.”   04:03 Agostino was very entrepreneurial from a young age. However, due to his family, he started his career in corporate America. He became a C-level executive and it gave him an advantage in setting up structures and creating strategies. He also learned a lot about people management and how important it is to have the right team.   Agostino's advice on how to build the right relationships in your work life, no matter what level you are in, is the use the “Rule of 33.” This means to split your time into 3 segments and spend 33% of it with people above you, 33% with people below you, and 33% with people on the same level as you.    For most people, spending time with people on their level is the most comfortable, but not getting out of your comfort zone blocks growth. “Just because you love your job, doesn't mean your job is gonna love you back.”   26:34 According to Agostino, the most important thing for a successful business or life, in general, is to have the right mindset. Working in a W2 job is like a drug because people get addicted to the money, and even though they are constantly worried about their job security or don't like the job, they can't quit.   Agostino had to make a conscious decision to change his mindset about his career and step out of the “Matrix”.   He chose to do real estate in order to achieve a more free life. His biggest mindset shift was when he went from single-family to multifamily. It took a lot of sacrifices. However, now his life is truly purpose-driven. 32:18 Agostino's advice on how to work on your mindset:   Read a book a week, or at least read as much as you can. Write down your goals every morning. Create affirmations for yourself, visualize, and repeat them every day. Spend time to understand why humans do what they do.  Consciously work on creating better habits for yourself. The most important thing is to take action! Mentioned in the show: www.bulletproofcashflow.com His LinkedIn Bulletproof Cashflow Podcast Seneca -The Shortness of Life www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Agostino Pintus for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Gregg Cohen, a turnkey specialist and the co-founder of JWB Real Estate Capital. In this episode, we dig deep into turnkey investing and how this concept works. If you want to know if turnkey investing is the right choice for you, what are the costs, and how you can start your own, then this episode is for you! Learn more about Gregg and his journey at reiclarity.com! “Our clients actually own the asset. So it's not like they just invest with us.”   02:06 Gregg's turnkey investing company is designed to make rental property investing easier. According to him, there is a big segment of the population who would like to invest in real estate, but they find it too hard, time-consuming or they live in an area where the market is not good for their goals.   Gregg's company helps these individuals by owning and selling the house to the client with a tenant in place so they have positive cash flow from day one. His company does all the property management for that client as well. “There is a really big difference between doing this business and doing this business well.”   09:08 Gregg's advice on the key factors to start a successful turnkey company:   Have property management in-house, otherwise, the sales team might pitch numbers that they cannot necessarily back up on the property management side. Sign more than 1-year leases because turnover costs are actually the biggest lever when it comes to your overall maintenance costs. Don't forget that the clients should buy into a model and a team with you, so you should be more like an advisor than just a property manager. This way, you can both plan ahead for years to come. 20:18 According to Gregg, there are some scenarios when turnkey investing is not the right choice. For example:   If you are somebody that likes to be very hands-on and want to have a part in a lot of the decisions. If you don't want to trust in a company to operate in your best interest and you'd rather manage the process by yourself. 27:12   According to Gregg, if the turnkey rental property company operates in an efficient manner, they should be able to acquire properties at a discount to market value for you. However, there are costs to consider when you are thinking about working with a turnkey rental company:   Property management fee: it consists of all the activities to be able to maintain that relationship with your residence. It's usually around 8%-12% of the rents that are collected. Tenant placement fees: it is generally around the first month's rent to place a resident in your home for you. Lease renewal fees: this should be a small fee and it varies from company to company. This fee occurs every year when the tenant renews their lease. Maintenance markups: be careful with these fees, as many property management companies markup the maintenance fees by 10%-15%. Mentioned in the show: https://www.jwbrealestatecapital.com/ His Phone number: (904)-677-6777 His LinkedIn https://www.jwbwebclass.com/ www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Gregg Cohen for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Brian Adams, the President and founder of Excelsior Capital, where he deals with investor relations, capital markets, and brings people together for great deals. In this episode, we talk about the 3 phases of his investor journey, how to successfully raise capital, and how the market will look like in the next 12-24months. If you want to become a GP, a sponsor, an investor, or have bigger multifamily deals, and want to know how to create your strategy, this episode is for you! Learn more about Brian and his journey at reiclarity.com! “You can't really create wealth through salary”   04:43 Brian started his career as a prosecutor. He married into a real estate investor family and got interested in REI. He searched for a way to build long-term wealth.   According to Brian, there are 4 types of truly wealthy people: People who were born or married into wealth People who worked for a corporation and acquired shares of the company over a long period of time People who started a company and then had some kind of liquidity exit People with real assets like commodities, commercial real estate, oil, gas, etc.   Brian decided to go with the 4th route and became a real estate investor.   Within the first 5 years of business, he acquired $250M worth of real estate and raised around $75-80M of equity. 09:38 3 phases of an investor's journey   Departure/adventure: This is the start of the journey, where everything is new and exciting. You have the ideas and expectations about your business and it feels like an adventure.  Initiation/setback: This phase comes with a lot of realization. You start to understand how everything works and see the setbacks in your processes.  Return/redemption: This is the settling phase. You put down the right strategy and now all you have to do is keep the journey going.    Brian is now in the 3rd phase of his journey but talked about all the parts in the episode. “I have fully embraced and I take full agency over the concept that I'm a salesperson”   11:28 Brian admits that he had shiny object syndrome at the beginning of his journey and the way he raised money was not about the client, but about himself. Eventually, he learned that he had to focus on the investors' needs in order to successfully raise capital.   In the beginning, Brian didn't have systems in place. Even though he already had 350 investors, he had poor communication and a lack of transparency. Eventually, he took the feedback and learned from his mistakes, and created a strong and reliable team.    Now, Brian is clear on the 3 key things his investors really want: capital preservation, yield, and the benefits that come from direct real estate ownership from a tax perspective.   Brian's advice for business owners is to set clear client expectations and boundaries and don't be afraid to talk about your limitations. “Ultimately, commercial real estate comes down to population growth”   34:36 At the end of the interview, Adam talks about his insights on REI in the next 12-24 months. He's been seeing a demographic shift as the millennial generation is moving out of big cities like New York or San Fransisco for a better quality of life. This makes secondary markets along the Sun Belt more popular.    Adam sees an acceleration of this shift due to the current pandemic, so he continues to invest in those upcoming markets. Mentioned in the show: https://www.excelsiorgp.com/ His LinkedIn Joseph Campbell - The Hero's Journey www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Brian Adams for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is John Casmon, a multifamily real estate entrepreneur, podcaster, and marketing expert. In this episode, we talk about how to market yourself and how to attract the right people to succeed in your real estate investing journey. If you want to know how to build the right communities and effectively talk about your deals, then you don't want to miss out on this episode. Learn more about Neil and his journey at reiclarity.com! “Marketing as a whole is really just in communicating the products or services that you offer.”   05:13 According to John, everybody is a marketer because marketing is simply a way of telling people about your products or services. We constantly have to market ourselves in our daily life as well.   The key to successful marketing is to start with your ideal client's needs instead of only thinking about your deal. Marketing is how you talk to these individuals and communicate the benefits and the solutions to them.   The 4 step process to understand how to articulate yourself and market your services:   Understand the value of your product and service. Figure out who your ideal client is. Know what problems they are facing and what solutions they are looking for. Understand how your product or service can solve their problem and give them their desired outcome.    After going through these 4 steps, you need to figure out how your ideal client is spending their time and what are the best mediums for reaching them. Don't just go with channels you are most comfortable with, always keep your client's needs in mind.   Also, keep in mind that most of the time people appreciate a story more than just dry facts and data. “The goal here is not to exclude, it's to move people one way or the other.”   20:13 John's advice is to get specific with your ideal client avatar, but not too much. If you try to talk to everyone, then no one can strongly relate to your message, however, if the ideal client avatar is too narrow then it can be hard to find clients.   According to John, in the past, it used to be that you'd have to see a brand or a message 7 times before it started to resonate. Nowadays it's believed to be 14 times. So the goal in marketing is to get people familiar with the idea of your services or products.   At the end of the interview, John talked about the importance of building communities and networking. Building communities takes consistency, collaboration, and a bit of humility because you have to know that it's not about you, it's about what everyone else is looking for.  Mentioned in the show: https://www.casmoncapital.com/sampledeal https://www.casmoncapital.com His LinkedIn Chicago Multifamily Club James Clear - Atomic Habits www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to John Casmon for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Neil Greenbaum, a lawyer who puts together legal documents for real estate investors. In this episode, we break down the anatomy of a commercial real estate deal. If you want to know more about the 5 stages of a CRE deal and the crucial steps for a successful closing, then you don't want to miss out on this episode! Learn more about Neil and his journey at reiclarity.com! “It's your deal. You are the captain of the ship so you better know it.”   In this info-packed episode, we go through the 5 stages of a commercial real estate deal. These stages are the contract, the due diligence, the title period, financing, and closing. 03:46 Neil works with investors and puts together legal documents for all parts of the investor journey. According to him, the best way to avoid making mistakes at the beginning of the deal is by building a great team of service providers and always understanding the deal.   He also suggests getting familiar with the timeframe, due diligence, representations, and warranties inside the contract in order to make the best investing decisions. Always check if the numbers match and if the finances are as expected. 20:44 After talking in-depth about the contract and due diligence process, Neil shared his advice about the title period. He emphasized the importance of working with the same title company through multiple deals. Because you're not going to save money on the title because title rates are uniformed, you should try to find a title company that provides the best services. 25:47 Neil suggests that the best approach is to start financing from day one. Establish a good relationship with the lender or the broker because it makes the financing aspect much easier.   The final piece of the CRE anatomy is closing. This should be a fairly simple and quick process if you've done everything right in the deal leading up to this point.   According to Neil, as long as you are diligent and timely with your processes and you read and understand everything, then your deal should work out. Sometimes you may realize along the way that it's not gonna work out and you can still pull the plug. 38:12 Neil's 3 pieces of REI advice on what steps to take to turn your side-hustle into full-time real estate investing   Know your market inside out. Learn everything you can about it, especially now in this current pandemic. Understand finances. Know the cash flow of the property. Pound the pavement for opportunities. Build a good relationship with your broker and service providers so you can find the best deals. Mentioned in the show: His LinkedIn https://neilgreenbaumlaw.com/ Book a Call with Neil www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Neil Greenbaum for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Julie Holly, a multifamily investor, writer, speaker, and podcaster. In this episode, we talk about the pros and cons of single-family and multifamily investing and how to leverage technology to invest anywhere in the country. If you are ready to take your real estate investing strategy to the next level, then don't miss out on this episode! Learn more about Julie and her journey at reiclarity.com! “One of the most important characteristics that I saw growing up was the power of reinvention”   03:19 Julie comes from a real estate investor background. Her parents were both residential investors and taught her a lot about the industry. She learned how to constantly reinvent herself and always charge forward.    She started single-family investing at the beginning of her career. However, she soon realized that multifamily investing was way more scalable. That was the biggest transition she made in her career.   Currently, Julie is reinventing her strategy again as the industry is changing due to the recent pandemic and recession. “I personally like to be able to grow really big. I have a big personality, I like to do things in a big way.”   14:29 Julie lives in a small town in Idaho where there were not many multifamily investing opportunities. She chose multifamily investing because she wants to grow her business all over the country.    The pros and cons of single-family and multifamily investing: Single-family:  Pros: It is easier to get into it, you own the property and don't have to rely on partners, and they can create a great cashflow. Cons: It requires more work from you,  it gets very hard to manage them after a certain number, and vacancies have a bigger financial impact.    Multifamily:  Pros: It is more scalable, you don't have to be there physically, it is like buying into an actual business. Cons: It is hard to find the assets and vet them because there is a lot more competition. “Use technology as your diving board, it can launch you into something really exciting. However, you have to be willing to fly and take that risk.”   24:54 As Julie lives in a small town, she uses technology to connect and network in the industry. Her favorite way of networking is podcasting. She's met a lot of people through her podcast: ”Ask Me How I Know”.   She is also very active on social media. During the pandemic, she started to be a part of social media challenges which helped her network with more people. She also participates in online meetups.   Julie's advice is to get comfortable with being on video because that is the future of networking. Julie's 3 steps to turn your side hustle into a full-time business: Don't forget that anyone can do it and you are no different. Your mindset matters so believe in yourself. Play to your strengths. Find people in your business who complement your strengths and can hold you accountable. Mentioned in the show: John Acuff - Start Daniel H. Pink - When, The Scientific Secrets to Perfect Timing https://threekeysinvestments.com/ Ask Me How I Know Podcast www.julieholly.com Her LinkedIn www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Julie Holly for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Bernard Reisz, a CPA and the founder of ReSure LLC, where the focus is on simplifying finance and investments. In this episode, we talk about how to make well-informed decisions in our real estate investing strategy and the 3 types of tax shelters. If you want to know more about different retirement accounts and the ways to assess a financial advisor then don't miss out on this episode! Learn more about Bernard and his journey at reiclarity.com! “The biggest mistake you can really make is essentially being poorly informed”   04:00 At the beginning of the episode, Bernard explains that there are no mistakes in real estate investing, just well-informed and poorly informed decisions. As every service provider has a bias, you have to be able to read between the lines while investing.    To make the right financial and business decisions, Bernard suggests asking the following questions: How easily can your business be converted to cash? Is there something you are thinking of transitioning to? How many places do you want to be active and how many passive income streams do you want? Based on your perspective, do you think that you have better information about real estate than the market as a whole?   If someone is very serious about real estate investing and doesn't just want to do it as a side-hustle, then Bernard suggests going full-time into real estate investing and claiming a real estate professional tax status, which will provide the best tax benefits. For this you don't have to be licensed, you just have to fit the real estate professional tax status. 27:05 How to assess a financial advisor or CPA? Look for people heavy on substance and low on fluff. Even if at the beginning of your business journey, you can't afford a higher level accountant, always choose someone who will be able to grow with you. Work with people who are very committed to helping you. Find someone who is specialized but has enough expertise to understand how every component in that field integrates and interacts with each other. 40:00 Bernard talked about the different types of retirement accounts in the show. They are the following: IRA Traditional IRA Roth IRA SEP IRA Simple IRA QRP 401K profit sharing defined benefit cash balance money purchase “Don't buy tax shelters, invest in them.”   46:00 According to Bernard, you don't want to buy tax shelters off the shelf. You need to understand the risk associated with them first. There are tax shelters that are legal, in the grey area, or fraudulent. A good starting point to determine if the tax shelter is legal or not is to ask your CPA. Mentioned in the show: Leonard Mlodinow - The Drunkard's Walk https://www.401kcheckbook.com/ www.agentfinancial.com www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Bernard Reisz for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Jennifer Grimson, a coach, real estate investor, and podcaster, who created a concept called Micro Empires. In this episode, she breaks down the many ways she invests and how you can build your own micro empires too! If you are ready to diversify your income streams and set yourself free financially, then this episode is for you! Learn more about Jennifer and her journey at reiclarity.com! “My thought was if it belongs to me, it's an empire.”   03:14 Jennifer was a single mother, who lost everything in her life twice. She found herself with no money, no job, and no place to live with her two children. After the second time, she realized that she didn't want to be dependent on others anymore and instead of only looking for a job, she started to search for ways to diversify her income and build lasting wealth.   This is when the concept of micro empires was born. Jennifer started to build different streams of income which included her day job as a salesperson, coaching, real estate investing, and art.  “There's always something that you can do, hopefully, that you enjoy. And hopefully, that builds on what you're already doing.”   10:37 Jennifer suggests to always have at least 3 streams of income. To find these streams, look at your talents and figure out what you do so well that other people ask you for it. Then start to build businesses around these talents.   Jennifer was always good at storytelling so she built her micro-empires around business coaching, high-level executive resume writing, and Linkedin networking coaching. She also invests in multifamily real estate and until earlier this year, Airbnb. She invests in broad-based index funds and paints as well. 13:47 According to Jennifer, believing that what you're doing is worth it is important and it often requires a mindset shift. Her advice on how to start charging for what you love to do: Be consistent and work towards your goal in small steps every day to move the needle. Do something every day that scares you. Be honest about what you need and don't be afraid to tell it to others as well.  “I'm looking at other multifamily but really anything that creates cash flow is what I'm interested in.”   23:12 Jennifer always wanted to get into real estate investing. She started out with Airbnbs using her 401k. This turned out to be so lucrative that she was able to quit her corporate job at the end of 2018. However, the market was becoming too saturated, so Jennifer decided to sell her Airbnbs just a month before COVID hit.   Jennifer has been investing in a joint venture with 67 doors and in the future, she would like to buy more multifamily.  32:25 Jennifer's advice on finding ways to make money while keeping your day job: Know your finances and use the tools and resources that are available Understand your mindset, blocks, and limiting beliefs Take action, learn and try things, and don't be afraid to ask questions Mentioned in the show: Jen Sincero - You Are a Badass Gavin de Becker - The Gift of Fear www.micro-empires.com https://micro-empires.com/coaching/  www.bakercollins.com www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Jennifer Grimson for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Veena Jetti, a general partner in huge multifamily deals. She had her fingers on over a billion dollars worth of assets throughout her career and has control over millions of dollars of assets currently. In this episode, we talk about what it's like to be a general partner on big multifamily deals and what should you look for in a GP if you are a limited partner. If you're ready to scale up and want to invest in the best multifamily deals, don't miss out on this episode! Learn more about Veena and her journey at reiclarity.com!     “Single-family is not a very scalable space, so eventually there comes a point where you have to make the leap to whatever the next level is, and that's inevitably multifamily.”   03:12 Veena is coming from a real estate investor family. Her parents were into single-family investing when she was young, so Veena started in the single-family space as well. However, she soon realized how much more scalable multifamily was. She says that it was easier for her to take bigger risks as she had her family as a safety net. “My motto is that the ball is never in my court ever. If you asked me for a request, I turn it back to you, and then I'm waiting on you. I never want anybody to be waiting on me in the deal.”   9:22 Veena's first multifamily deal was in Dallas. Since then, she's had control of over a billion dollars worth of assets.   Her newest deal is a 494-unit A- property called Element 41 in Marietta, Georgia. Veena has a good reputation among brokers because she is very professional and reliable, so she can find good deals easier than others.   Veena's advice on what questions to ask when deciding if something is a profitable buy or not: Are there a lot of value-add options to the property? What other income possibilities can you bring in? Can you decrease expenses in an efficient way? 31:19 According to Veena, there are 3 main categories of roles a general partner plays in a deal. Acquisition:  Everything that happens before you have the deal under contract. This means broker relationships, negotiating, and meeting all the terms of the PSA.  Everything under contract until close: your due diligence, underwriting, and understanding your financials. Capital: Your debt, equity, and financially structuring the deal. Operational: Starts on the day of the take-over. This covers weekly asset management calls, checking the proforma conditions, tracking the strategy, and managing investor relations. According to Veena, the biggest challenge for a limited partner in working with a GP is that sometimes there is not a lot of transparency. To make the relationship more transparent, she recommends:  Always talking to the general partner and asking a lot of questions. Asking the GP if they personally invest money in the deal, and if so, how much. Understanding what happens to the limited partners if the deal misses the goals for you. Understanding the business plan and the preferred rate. Understanding the numbers in the underwriting. Mentioned in the show: Ryan Inman and Taylor Inman - Financial Residency  https://vivefunds.com/ info@vivefunds.com www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Veena Jetti  for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Kenneth Igwe, a private money lender, and multifamily real estate investor. In this episode, he shares his tips on how to qualify for hard money lending and how to get the best financing deals and interest rates as an investor. If you want to know the pros and cons of bank loans, hard money lending, and borrowing money from your family, then this episode is for you! Learn more about Kenneth and his journey at reiclarity.com!     “I'm a big believer that math is a language that a lot of people are just not fluent in, and do not want to become fluent in.”   03:31 Kenneth studied mathematics in college and was always passionate about numbers. He looks at it as a language that you can learn and is crucial for real estate investing.  “As our industry literally transforms, I just want people to start to have conversations about private money as opposed to hard money, as well.”   09:31 According to Kenneth, capital can come from 3 sources: Raised money from family and friends Raised money through an institutional route Bank loans   Kenneth talked in detail about the pros and cons of these 3 different capital raising routes.   He doesn't like to use the term hard money lending for his industry as it has a negative undertone in many cases. He prefers institutional private money lending.   Kenneth explained the process of finding the money for your deals through private money lending: First, figure out what type of investor you want to be Once you get to the lender, they want to know if you are reliable so they look at 4 things: The project You and your team's experience Your credit score Your liquidity “A private lender's job is not to see if you have a good deal or not. Our job is to determine if the deal is financeable.”   23:26 Kenneth's advise on the first steps needed to understand commercial lending better: Read a number of commercial real estate investing books Join a Real Estate Investment Association with a commercial division Actively start conversations with people in your industry Start analyzing deals even if you don't want to buy them   When it comes to private money lending, in order for a deal to be attractive for the lender, it has to be financeable and profitable with good cashflow.    Kenneth is always looking for experience when he is working with residential or commercial projects, but if you don't have that, an experienced team can go a long way. Mentioned in the show: Frank Gallinelli - What Every Real Estate Investor Needs to Know About Cash Flow His email: kigwe@bakercollins.com   www.bakercollins.com www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Kenneth Igwe for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Today we talk about 3 previous interviews in this special Moment of Clarity episode. We break down the process of networking, cost segregation, and investing in real estate without owning property. If you are ready to go deeper into REI strategies then this episode is for you! Listen to the full interviews with Amy Mahjoory, Monick Halm, and Yonah Weiss if you haven't already at reiclarity.com! The 4 step process of networking   02:38 Amy Mahjoory described the FACT method she uses for networking. F: Foundation. Get to know who you are, why you do what you do, and what you provide.  A: Action. Don't procrastinate. Start building small relationships and this will lead to bigger relationships over time. C: Credibility. Have a presentable idea and a clear offering for your investors. T: Transaction. Start getting deals done. The 6 different ways to invest in real estate without owning property   08:12 Monick Halm suggested 6 ways to invest in real estate even if you don't want to own property. Wholesaling: find deals and connect buyers with sellers. Online Investment Trust: a passive way to invest in large real estate opportunities. Tax Lien Investment: purchase a lien from the government. Bank Note Investing: invest on the back end of banks. Syndication: invest with a group of people in a specific real estate deal. Private Money Lending: a one on one deal between you as the lender and an investor.   We talk about the pros and cons of these methods in the episode. Cost Segregation   15:21 Yonah Weiss talked about the depreciation-based tax strategy called cost segregation.    The tax depreciation schedule is set up by the IRS and calculates that a house depreciates to zero dollars from the time of purchase over 27.5 years. Cost segregation is a way to accelerate the depreciation timeline, by breaking down the property to 4 categories: land, building, land improvements, and personal property.   If you want to know more about cost segregation, don't miss out on this episode!       Mentioned in the show: Network Your Way to Private Money, with Amy Mahjoory 3 Excuses for Not Investing… Squashed with Monick Halm How to Build Your Network & Lower Your Taxes, with Yonah Weiss www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.        If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is the Apartment Queen, Kaylee McMahon. In this jam-packed episode, we talk about multifamily investing, syndication, and how to scale your business. If you are ready to take your business to the next level and want to know what it takes to go from side hustle to full time investing, then don't miss out on this episode! Learn more about Kaylee and her journey at reiclarity.com! “You need to have a concept, prove that concept, and then be able to scale.”   03:34 Kaylee was always entrepreneurial. She started a personal concierge business, where she worked with wealthy people to manage their homes and schedules. However, she wanted to create a business that runs itself, and after reading Rich Dad, Poor Dad, she decided to get into real estate investing.   According to her, the key to run a successful business is to have a concept, prove that concept, and scale from there. Scaling involves the right people, systems, and advertising.  “In multifamily investing, you're buying a business and you have to be a business leader.”   13:41 Kaylee explains how single-family and multifamily portfolios are different. Buying single-family real estate is like starting your own business, while multifamily investing is more like buying a preexisting business with its own unique problems.   While building her portfolio, Kaylee discovered that she was very good at raising capital because she is not afraid of asking questions. Now she has hundreds of units.   Kaylee is involved in syndications as well. According to her, these are the things to decide on if you want to work in syndication: Do you want to be an active or passive partner? Understand how to run the numbers and analyze deals. Match it against the return criteria and physical asset criteria “Everything is changing constantly so you got to keep up.”   43:43 Kaylee sees many opportunities in the current recession. She is constantly evaluating the situation to be able to make the best decisions for her business. According to her, in order to be successful in these changing times, you need to understand the economy, the housing market, your deals, relationships, and the current pandemic as best as you can.   She believes in life-long learning and constantly evolving. Mentioned in the show: Joe Fairless - Best Ever Apartment Syndication Book Paul Moore - The Perfect Investment Robert Kiyosaki - Rich Dad, Poor Dad Ryan Holiday - The Daily Stoic Enodo Her Youtube channel https://theapartmentqueen.com/ www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Kaylee McMahon for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Today's guest is Yonah Weiss a cost segregation expert and social media connector. He shares his knowledge about building successful connections on LinkedIn, how to delay your taxes with cost segregation and why. If you want to build an engaged community around your REI business or learn how to hold on to more money with cost segregation, this episode is for you! Learn more about Yonah and his journey at reiclarity.com! “Do whatever you can for other people and that's going to open up more doors for you along the way.”   03:34 Yonah started his career as a teacher. He loved teaching but eventually wanted something that paid better. He got into real estate about 5 years ago through a friend. After getting his license, he started working in the cost segregation industry and decided to be an educator, to help people build connections in the real estate world.  “I've seen dozens of times people do business together through the connections I've made. It's such an amazing feeling.”   10:27 Yonah loves social media for building connections. He realized early on that Linkedin is the top page that comes up on Google when searching for someone's name, so it is a great place for personal branding. He specializes in helping real estate investors build better connections on Linkedin.    His REI advice on building an engaged community: Put yourself out there and be active on social media, as people won't do business with you if they don't know you. Create original content, but also take the time to comment on other people's posts and regularly interact with them. Don't just make connections to get something out of it, be altruistic because that will create a snowball effect. “If you have a way to not pay taxes legally, then it's better to do that.”   25:01 Cost segregation is an advanced form of depreciation that breaks down the property in different components that are depreciating differently. It's important for the tax deduction as income tax is the biggest expense that any business or individual has. A cost segregation engineer is breaking down the property into different categories and identifying the categories that are depreciating faster so those tax deductions can be taken faster. The 4 different categories are land, building, land improvements, and personal property.   Yonah's 3 pieces of advice for real estate investors about cost segregation: Always ask for a free estimate and analysis on any property from a cost segregation specialist. If you are a real estate professional, you can take the depreciation losses which are normally only used against rental property income, and use it against any ordinary income as well. Don't forget that when you sell the property you will have to pay the depreciation recapture tax. This means you might get the benefits now, so you can invest more, but eventually, you might have to pay the tax. Mentioned in the show: Brian Murray - Crushing It in Apartments and Commercial Real Estate Bigger Pockets Rental Property Calculator His LinkedIn www.yonahweiss.com  https://madisonspecs.com/ www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Yonah Weiss for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Monick Halm, a real estate investor and coach with a mission to help 1 million women achieve financial freedom. She reached incredible success and shares with us the foundation, mindset, and mentality behind real estate investing. If you want to get into real estate, then this episode will show you how to start your investing journey even if you only have $1 and very little time. Learn more about Monick and her journey at reiclarity.com! “Bring women here and show them how to do this. That was what came to me.”   03:54 Monick started her career as a lawyer. She fell into real estate investing by accident when she bought a multifamily and did a house hack with it. She started flipping houses with her husband in 2008. One day Monick was at a conference where she realized that out of the 120 guests only 8 were women. That is when she decided to dedicate herself to bringing women together and helping them be successful in real estate investing.   Monick's big hairy audacious goal is to help 1 million women reach financial freedom. “The easiest way is starting with what you already have.“   07:25 According to Monick, women usually have 3 main reasons why they can't start investing. These reasons are: Not having enough time Not having enough money Not wanting to be a landlord   However, Monick explains that these reasons all have underlying fears that need to be solved. She is working on breaking these fears and limiting beliefs. She shows women how they can start real estate investing with very little money or time by being resourceful and having the right mindset. “It's a lot like buying shares in any company. This is the real estate company.”   17:28 Monick talked about syndication in this episode. Syndication is investing in specific groups of property. Although it is possible to be a passive investor in a blind fund, Monick prefers to do project-specific investing, where she knows the properties and the market.   According to her, the 3 most important things to look out for in syndication is the team, the market, and then the plan with the property. Her advice for real estate investors when they evaluate the team is to look for the 3Cs: character, commitment, and capacity. “Investing in notes is very lucrative and a good return for yourself but also helping [families] to stay in their homes.”   35:55 For people who feel like they don't have enough time or don't want to be a landlord, Monick suggests private money landing. Her REI advice is to have a good lawyer, who can help you with the contract, and to have your right recorded and attached to the deed.   Other passive income strategies include tax lien investing and note investing. Mentioned in the show: www.reigoddesess.com The Real Estate Investor Goddesses Podcast www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Monick Halm for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Amy Mahjoory, a real estate investor and educator. She raised over $16M from private money lenders through networking. In this episode, she shares with us how to grow a thoughtful and well-rounded network of service providers and mentors. If you are ready to learn the exact steps of successful networking, then this episode is for you! Learn more about Amy and her journey at reiclarity.com! “You want to surround yourself with like-minded people, people on the same mission. As you do that, it's actually going to have a snowball effect on you personally, professionally.”   02:37 Amy started her journey in corporate America, working for Dell Computers for 14 years. However, she knew that she wanted to be an entrepreneur and had a great deal of interest in real estate. Although she was never looked at as a leader, she was very good at strategic networking. This skill helped her reach incredible success through real estate.   According to Amy, she learned networking in her childhood, as she came from a big family of many aunts, uncles, and siblings living together. This experience helped her navigate difficult situations and become an excellent networker.   During her real estate career, she was able to raise $16M in private money and now she coaches others on how to do the same. “It's time to start networking. It's time to start talking to people, start getting out there, and developing relationships.”   12:09 Amy is teaching a 4 step method on how to network efficiently and successfully. Her framework is called the FACT method.   Foundation: Figure out who you are and what your goals are. Understand your “Why”. Then create a short, 20-second elevator pitch you can use in networking events. Action: Start your marketing and be active on social media. Start developing relationships outside your friends and family circle and let the world know about your mission. Credibility: Create your credibility pieces like your online portfolio, pricing, contracts, and put systems in place. Transactions: Network consistently to have more and more deals come in. If you do this right, then transactions from your private money lenders will start to roll in. “Stay focused, keep the end in mind, get out there, and connect yourself with people who are doing exactly what you're doing.”   30:21 Amy has been a real estate coach and keynote speaker since 2014. After her daughter was born in 2018, she wanted to stop traveling all over the country for speaking. She decided to focus on one topic in her coaching business, raising private money, as this is an area that many investors are struggling with.   She is launching a webinar in August 2020, where she not only talks about how she raised $16M in 4 years but about raising $388k on her very first deal in just 21 days. Check out her masterclass here. Mentioned in the show: 10 networking question raisingcapitalforyourbusiness.com www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Amy Mahjoory for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Dave Foster, a 1031 exchange expert and real estate investor. In this episode, we dig deep into how to take advantage of the 1031 exchange to defer your taxes, expand your investment portfolio, and make your tax dollars work for your benefit. If you want to learn about 1031 exchanges and how to use it in different REI lifecycles, then this episode is for you! Learn more about Dave and his journey at reiclarity.com! “As you move forward, you start to learn what you know, but you also start to learn what you don't know.”   02:17 Dave always wanted financial freedom for him and his family. His goal was to buy a sailboat one day and live in it with his family. He started real estate investing in 1996 by purchasing a duplex, fixing it up and selling it. However, when he discovered how much he owed in taxes, Dave realized he needed to find a better way to invest.    He heard about the 1031 exchange that had just become usable for regular investors at that time. The 1031 exchange allows an investor to “defer” paying capital gains taxes on an investment property when it is sold, as long as another property is purchased with the profit gained by the sale of the first property.   Dave became a 1031 expert and 10 years later, he was able to buy a sailboat and live in it for 10 years. “The 1031 exchange is always going to start with the sale of a piece of property.”   08:37 Dave is a qualified intermediary for 1031 exchanges. The IRS requires that investors who take advantage of a 1031 must also use services of an independent, unrelated third party like Dave.    Dave's 3 crucial questions for investors to consider when contemplating using the 1031 exchange are: What are the consequences of it? What's the cost-benefit of it? Do I need it?   According to Dave, if you are planning to buy another property after selling the current one, then a 1031 could be a good option. However, it is essential to know that the depreciation taxes are accumulating, and although they indefinitely differed, they never go away. The 2 ways to never pay back the taxes are to keep buying and selling more properties or to pass away.   The type of real estate doesn't matter, so if someone is at the end of their investing cycle, they can still get into multifamily investing or syndications that require less management. 30:55 Dave's REI advice for investors who are thinking about their next steps in selling:   You need to hold the right property and rent it for the right amount, so the market balances out what you paid for it. You need to have a good accountant on board to always be up to date with tax changes. Mentioned in the show: www.the1031investor.com www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Dave Foster for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Avery Carl, a real estate investor with over 30 short term rentals. She also has long term rentals and helps people buy and sell vacation homes as a realtor. She shares with us her financing strategies, how to work the different markets, and a little bit about property management. If you've been thinking about growing your short term rental portfolio or adding short term rentals to your strategy, then this episode is for you! To learn more about Avery and her journey, visit reiclarity.com! “We had one downpayment worth of capital left to invest in something and so we thought, well, maybe we'll do an Airbnb project.”   04:56 Avery and her husband moved to Nashville from Brooklyn in 2013. She wasn't licensed yet, but they wanted to buy a rental home. The property they purchased is still one of their highest performing rental homes. After this first success, they decided to scale up and invest in Airbnbs. They started to buy single-family cabins in the Smoky Mountains, 3 hours away from the volatile Nashville market. “The regional, drivable vacation rental markets have fared the best for different reasons in both recessions.”   08:04 Avery mentioned 3 main markets for short term rentals:   The metro markets (New York, Austin, etc) Vacation, fly-to rental homes (Hawaii, Disney, Colorado, Utah ski towns) Regional, driveable vacation rental markets   When it comes to the short-term rental market, Avery sees many similarities between the current pandemic and the 2008 recession. According to her, the regional, drivable vacation rental market has fared the best in both recessions. In 2008, people didn't have enough money to spend on elaborate vacations, but they could afford a 5-hour drive for a weekend holiday. In current COVID times, people can't fly or travel very far, that is why they like to spend time in an easily reachable vacation home.   Avery has long-term rentals along with her vacation rentals, and she chose the same regional market. These rentals are affordable $6-700/month places. “There's a difference between debt and leverage. There is such a thing as good debt and bad debt.”    22:04 Avery has 30 short-term rentals. She mentioned a few different ways to finance these deals. She used a 10%-down vacation home loan on some of her properties. The down-side was that it could only be used once per market, as the properties have to be at least 65 miles apart from each other. Her other strategy was to take out the cash from her properties and enroll that into her next purchase.    Avery and her husband have both maxed out their 10 conventional loans, however, she differentiates between good debt and bad debt. Her debt is more like leverage. 28:01 Avery's 3 pieces of advice for real estate investors on how to take the short term investing leap:   Analyze the market, but not so much to get analysis paralysis.  Take the risk, because you can only learn by doing. Even if you don't have a lot of cash available, take out equity on your primary home or do a HELOC. Mentioned in the show: www.theshorttermshop.com info@theshorttermshop.com www.shineinsurance.com/ Learn how to grow your REI portfolio and reach incredible lasting success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Avery Carl for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Jerome Myers, a multifamily investor who reached incredible success by never giving up on his goals. He is now teaching others how to avoid pitfalls and build a team that can help you succeed even if you don't have any experience. If you want to build the right multifamily investing strategies from the start, this episode is for you! To learn more about Jerome and his journey, visit reiclarity.com! “I became a corporate America dropout at that point. And I started thinking, what am I going to do next?”   02:46 Jerome started his career as a civil engineer building businesses in corporate America. In 2009, he transferred to a consulting firm. As he built a strong reputation in the industry, he had the opportunity to build up a construction company to 175 people and $20M in revenue in 1 year. That is when he got interested in real estate. However, when he had to lay off half of the company's workforce, he decided to leave the corporate world and focus on his real passion. He started to educate himself in real estate investing and hasn't looked back ever since. “Reputation is more important than money in this game for sure.”   09:12 Jerome always knew he wanted to get into multifamily investing. However, as he didn't have the experience, the banks didn't talk to him and he couldn't get a loan to start. Fortunately, he had the opportunity to find partners for his deal and start his investing career. Jerome's advice for real estate investors who are interested in multifamily is to always find partnerships for their deals.   According to Jerome, every investor is trying to solve 4 things:    Knowledge: the foundation that all the deal members should have. Deal flow: the person who finds the deal is the person who has the leverage.  Experience: it's crucial to have an experienced partner if you want to go with bank financing. Capital: even tough owner financing can be an option, having enough capital is necessary for the deals.   The best role in the partnership is being the person who finds the deal. “I don't want somebody to be in the same place that I was in trying to figure out how they can get in and not know the true story.”   26:14 As Jerome is not coming from a wealthy family, he knows how hard it is to get into multifamily investing. This is why he set himself up to help others understand the industry. Through his courses, he is not selling unrealistic dreams but tries to show the truth about multifamily real estate.   Jerome's advice to business owners who would want to make the jump: always remember, that nothing is permanent, and the only way to grow is by being stressed and challenged. Mentioned in the show: myersmethods.com Dreamcatchers Podcast Myers Methods Presents Multifamily Missteps Podcast www.shineinsurance.com/ Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Jerome Myers for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening.

Our guest today is Rachel Richards, a real estate investor and author with multiple streams of passive income. She has aggressively retired at the age of just 27 and she shares all about that today. If you want to understand how finance and passive income work, don't miss out on this episode! To learn more about Rachel and her journey, visit reiclarity.com! “The way I see it is that passive income has enabled me to work when, where, or if I want, and now that I'm financially independent, I can choose whether I want to keep working or not”   02:32 Rachel defines passive income as money that's earned with little to no ongoing effort. It is built up of 2 stages: Investing the time and money to get the passive income stream created. After launching the stream it becomes hands-off and you only have to work with it a few hours a month or a week.   According to Rachel, you're retired once your passive income exceeds your living expenses, as you're basically financially independent. She has 4 passive income streams at the moment: rental properties, book royalties, an online course, and a print on demand business. “I tend to say, make sure you're monetizing your side hustle, make sure you have other income coming in before you quit your job.”   08:16 Rachel and her husband bought their first duplex in 2017 in Kentucky. They saved up for it during and after college, as they didn't have student loans and worked several jobs. After getting into real estate investing, she worked 80 hours a week in her day job, managing properties, and writing books. Although it was a tough time, Rachel says it was all worth it at the end. They currently have 40 units.   Initially, she wanted to retire just from real estate investing. She mapped out her expenses and continuously saved at least 20% of her income. “There's only so much you can do to cut your costs. So I always tell people, if you want to increase your savings, there are exactly two ways to do that.”   29:46 If you want to increase your savings, Rachel recommends decreasing your expenses as well as increasing your income.   Rachel's REI advice for financial literacy: Twice a year look at your revenue and your expenses from your rental properties and see if they align. Brainstorm 10 ways to increase your revenue and 10 ways to decrease your expenses. These can be small ideas like installing a coin-operated laundry machine in common areas or switching internet providers. Rachel shared with us her popular “Savings Bucket Concept”, which divides savings goals in terms of different timelines.   The 4 savings buckets are: Emergency savings: always have at least $1k here. Medium-term savings: have 3-6 months of living expenses and anything you're saving up for in the next 12 months in this bucket. Long-term savings: this bucket contains any big-ticket items that are in the long-term, like down-payment for a house or a fund for a wedding. This is the bucket you want to invest in the stock market. Retirement savings: invest this bucket completely in the stock market. Mentioned in the show: Money Honey Passive Income Aggressive Retirement Steve Chader, Jim McKissack - HOLD M. J. DeMarco -  The Millionaire Fastlane Afford Anything Podcast by Paula Pant Mint App www.shineinsurance.com/ Learn how to grow your REI portfolio and reach incredible lasting success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Rachel Richards for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Ali Hashemi, a real estate investor from Indiana. He shares what led up to his first multifamily buy and his strategy along the way. If you are ready to take the leap into real estate and need some help to refine your search and build your strategy, then this episode is for you! To learn more about Ali and his journey, visit reiclarity.com! “You learn a little bit of the landlording experience just by owning and running your own house.”   03:10 Ali first got into real estate investing when he moved to Indianapolis and bought a property for himself. He had to learn how to manage the house by himself, and when he sold it a few years later, he decided to invest in more properties from the cash. He started to share his interest in real estate with people around him and found a lot of help this way. He talks about how he refined his searches and created a strategy for himself in the beginning. “Ask yourself, how and when do you want to make money”   11:08 When Ali moved to Martinsville, he decided to focus on multifamily investing. He knew his price range and that he wanted the properties to be within a driveable radius. Ali's REI advice if you are a new real estate investor is to ask yourself how and when do you want to make money.  If you want an immediate return, flips are a good way to do that, however, you're not building equity this way. You can buy and hold to build reliable cash flow and build equity. Or you can go with the BRRRR method when you buy a property, refinance it, pull the money out of it, and buy another one. Ali chose the buy and hold method as he wants to build equity and long term wealth. “If you're going the bank route, which is the route I went in, I found that small regional banks are primarily the ones you want to start with.”   24:30 According to Ali, a commercial loan is much looser and freer in structure than a federally backed single-family loan. This is another reason why he went with multifamily investing. He found that small regional banks are the best for lending because they're interested in lending in their immediate area and they know the market. His advice for business owners is to get to know your lender and create valuable relationships with them. Ali bought his first multifamily in 2017 and currently has 15 units. He would like to scale up to 100 units in the near future. Ali's 3 pieces of advice for real estate investors to find REI clarity:   Share your interest in real estate with others, because this way you can build valuable relationships and learn. Refine your search. Decide which lending direction you want to go and get to know your lender. Mentioned in the show: His email His Facebook Chris McChesney, Jim Huling, and Sean Covey: The 4 Disciplines of Execution www.shineinsurance.com/ Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Ali Hashemi for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Jimmy Lam who is a superstar investor. From single-family and multifamily investing to ownership in hotels, offices, industrial and retail spaces, he has done it all. In this episode, he shares his success journey and the strategies that helped him on the way.  If you want to know how to properly work the margins, add real value to your properties, and increase your income, then this is the episode for you! To learn more about Jimmy and his journey, visit reiclarity.com! “At that point, I couldn't just continue to buy the small single-family properties. That's when I got into apartments and hotels and stuff like that and started really expanding.”   03:36 Jimmy Lam started his real estate career in 2011. In the beginning, he took advantage of private funding and bridge financing. As he got more successful, banks started to offer him better loans, so he started doing hard money loans for people flipping houses. Eventually, he took the leap from single-family to multifamily investing as it was easier to scale up.    Jimmy created a strategy for his business from the start and grew his portfolio to 40 single-family properties. He shares some of those strategies with us. “Whenever you look at these deals, you're always trying to find areas that you can increase income.”   10:20 Jimmy had experience in multifamily investing and raising money from his corporate job. He found his first deal through a university where he spoke regularly. On this property, he was able to increase the investment return by about 100%. He did that by working the margins, adding value to the property, and through that, raising the rent.   Jimmy's 2 pieces of advice for business owners on how to make spaces more valuable for tenants: Always keep your tenant's needs in mind and don't forget that people want service quickly. Systematize how you do things, create clear processes for your business. “It's a matter of trying to understand the reason why you want to jump into commercial investing.”   23:02 Jimmy invests in Texas, where everything above 4-units is considered commercial investing and falls into a different loan category. For people who just want to acquire 5-6 units, he advises to only invest in single-families for better loans.   Jimmy's advice for people who want to jump into commercial investing: Get a deep understanding and knowledge of how commercial investing works. Prepare to have very high additional fees and higher risks compared to single-families.   Jimmy is also involved in hotels and franchises like Hyatt, Hilton, and Marriott. For people who want to get into the industry, he suggests to partner up with someone more experienced because a resume should be attached to the loan. Jimmy's 3 pieces of advice for real estate investors to find REI clarity:   Take a step back, put yourself in the customer's shoes, and consider if they would be satisfied with the service you're providing. Find a mentor who can help you on your journey. Think about your strategy and make sure that it helps you in the long-term. Mentioned in the show: His phone number: 832-303-1884 His email: jimmy.lam@kirkwoodhaven.com www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Jimmy Lam for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Jay Redding, a successful real estate investor from Indiana. He shares with us how to create a business plan, how to be strategic over opportunistic in your investing, and why it's important to stick to one strategy. If you'd like to know how to build your investment strategy and turn your side hustle into a scalable REI business then this episode is for you! To learn more about Jay and his journey, visit reiclarity.com! “Pick a primary strategy to focus on and get proficient”    11:17 Jay did his first deal in 2004 and became a full-time real estate investor in 2007. Now he has 45 rental properties and buys and sells tax liens. He is also involved in some commercial deals and wholesaling. Jay never used bank financing on his deals as he raised private money from the start.    He developed his primary investing strategy right from the beginning, by thinking 5-10 years ahead. He shares with us how he built his business plan, why it's important not to get distracted with the countless investing options, and sticking to your plan. “You are essentially working on your business so that you do not have to be working in your business.“   11:36 According to Jay, you cannot be truly successful if you don't niche down and develop a solid business strategy. His advice for business owners is to put their systems and processes in place from the very beginning. Write down the processes step-by-step and tweak them over time.   This is a good way to be able to delegate responsibilities, which is often a hard task for entrepreneurs. Jay suggests investing in a good team because that is the best way to scale a business fast. The goal is to always work on your business and not in your business. “I could care less about what that property looks like. Will it make me money? That's what I'm concerned.”   28:36 Jay recommends planning ahead 5-10 years down the line, and set specific benchmarks and milestones for the business. This can only be reached by being strategic in investing rather than opportunistic. He chooses his deals very carefully and doesn't get involved with anything that doesn't fit in his business plan long-term.   Jay shares with us his specific niche, how he differentiates between a good and a bad deal, and why seller financing might be the best thing to get into in the near future. Jay Redding's 3 pieces of advice for real estate investors to find REI clarity:   Develop a strategy and don't get distracted by all the other options. Set up benchmarks and milestones in your business and invest in a good team. Be strategic versus opportunistic. Understand the data and stay away from purely emotional buys.  Mentioned in the show: www.jmjrealestateservices.com His email: jay@jmjrealestateservices.com Learn how to grow your portfolio and reach incredible success with real estate! Visit us for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Jay Redding for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Whitney Nicely, a real estate investor and business coach from east Tennessee. Her mission is to help as many women as possible achieve financial freedom through real estate investing. In this episode, she shares her best advice on how to find lease options sellers and how to navigate those sellers once you've found them. To learn more about Whitney and her journey, visit reiclarity.com! “The first day I went to work in the real world I had four full-time jobs.”   03:39 Whitney is a 4th generation entrepreneur. She started her career in her family's dump truck companies and navigated 4 different family businesses. Now she has 3 real estate investing companies and a dump truck company of her own. Whitney sees real estate investing as a great way to establish stable, passive income. It might help you leave the family company, your corporate nine to five, or even a bad relationship. She shares the way you can get into real estate investing. “There's books and magazines and websites dedicated to how to put your lipstick on, but there's not a lot dedicated to how to build a real estate portfolio.”    13:05 Whitney has a coaching business, Shebuysit.com, where she helps women get into real estate investing and teaches them how to make passive income from real estate. She believes that women are the best real estate investors, as they are natural negotiators and nesters. Also, a lot of women inherit properties through death and divorce, and often they will trust another woman more to sell their property. Whitney wants to be a mentor for these ambitious women so they can build successful portfolios. “Lease options really allowed me to go from little dinky deals and being a hobby investor, to learning how I can control deals without ownership.”   23:37 Whitney is very focused on lease options as an investor. According to her, it's a fancy rental agreement with the option to buy the property later at a price we agree upon today. She helps property owners who have bought a house but moved to a bigger one and the old property has become a burden to them. She relieves their pressure by taking over their payments.    Whitney's advice for entrepreneurs is to not be afraid to niche down and say ”no” to bad deals. She explains how she targets her ideal property owners and why niching down is important. Whitney's 3 pieces of advice for real estate investors to find REI clarity:   Take a long hot shower where nobody disturbs you. Or go for a long walk by yourself and think about what you really want.  Be honest with yourself because this is how breakthroughs happen. Mentioned in the show: www.shebuysit.com/group Robert Kiyosaki's Cashflow game Mike Michalowicz - The Pumpkin Plan www.shineinsurance.com/reiclarity Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.    Special thanks to Whitney Nicely for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

Our guest today is Jennings Smith, who is an investment property owner, builder, general contractor, and property manager. He has grown his portfolio exponentially in a very short period of time. In this episode, he shares how he went from a couple of single-family homes to 600 units worth $40M in less than 2 years! If you're looking to transition into multifamily and need some seasoned tips and tricks then this is the episode for you! To learn more about Jennings and his journey, visit reiclarity.com!   “The perfect turnaround on a property is trying to sell it to your tenant.” 02:48 Jennings followed his dad's footsteps into real estate investing. He saw how his dad evolved from being a real estate agent to building long-term wealth. Jennings helped his father out in the beginning and then started to acquire his own single-family properties. He shares how he built up his business and why selling to your tenant is the best turnaround on a property.   “If you want to have hundreds of units, then why are you setting up systems and processes that are going to break and not work?” 08:15 In a few years, Jennings was running a full-time construction company, had a family, and grew his portfolio to 5-6 properties. He had trouble managing his properties because he didn't have enough time.  He decided to hire a property manager which helped his business tremendously. His advice for real estate investors is to always hire a property manager even if you have a smaller portfolio. If you would like to scale up to hundreds or thousands of units, you have to put down the right strategies. However, property managers generally have a bad reputation. Jennings shares with us how to find a good one and what systems to put in place to truly leverage the relationship.   “I made the leap into multifamily eventually, or as quickly as I could because it's just a lot easier to scale.” 16:36 Jennings took the leap into multifamily investing, as it is easier to scale and it is more like a business.  It took him 4-5 years to get 7 single-family properties, but only 2 short years to scale up to 593 units. His advice for business owners is to always invest in their education. He believes that he reached success quickly because he did numerous courses and attended REI masterminds.  According to him, multifamily investing can exponentially supercharge your scaling goals compared to single-family. At the beginning of his career, Jennings set a goal for himself. He wanted to reach a 1000 units under contract by the time he was 50. He is still in his 30s and is about to reach his goal in 2020.    26:20 Jennings' top 3 pieces of REI advice he learned from multifamily investing: Know your underwriting, do your research, and understand the risk you're taking by picking up the property! Overcapitalizing is crucial! Figure out what you need for your downpayment and your closing costs, and always have a little bit in the tank! Think about your exit strategy from the beginning!   Mentioned in the show: https://www.facebook.com/rentliveoak The download Https://bit.ly/2X8ov1y Jennings' email: jennings@liveoak.com www.shineinsurance.com/reiclarity   Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity   Special thanks to Jennings Smith for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:    SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts    While your there, please RATE & REVIEW the show    SHARE with friends   Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire.   Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

If you've ever felt like real estate investing is just for people with piles of cash, this episode will change your mind. Our guest Dee Stevens explains how he used his smarts, hustle, and some creative financing strategies to go full time in real estate and build wealth with rich funders to help.  In this case, it did take a nuclear scientist to grow a portfolio.   We're glad you joined us!   SECTION 1: Dee's story Dee was working as a nuclear scientist.  He built a relationship with one of the deliver drivers who shared the ideas of Carlton Sheets and the No Money Down method.  After studying for a while he connected with a realtor who helped him find his first investment deal.  She wasn't sure he was making a good decision but he did it anyway.  That started his real estate investing journey.     SECTION 2: The Value of A Coach Having a coach speeds up the learning curve and gives you high level skills more quickly.  The best way to find them is to be engaged in Facebook groups and the social media community.  Watch the people who are in there advising.  When you find people who match your strategy, reach out and see if they'll help you.  Sometimes that's a no fee connection.  Other times you'll set up a business coach relationship.  It's all about finding the right person.     SECTION 3: Creative Financing   There are a ton of ways to do creative financing.  Here are a few of Dee's favorites: 1. Seller Financing 2. Lease Option 3. Subject for Existing 4. Contract for Deed   SECTION 4: 3 Steps to Clarity 1. Get Your Mind Right & Systems Down 2. What is Your Exit Strategy 3. Build Up Your team     Mentioned in the show: 1. Carlton Sheets – No Money Down 2. Traction 3. Four Disciplines of Execution 4. Never Split the Difference   Special thanks to Dee Stevens for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:  • SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts  • While your there, please RATE & REVIEW the show  • SHARE with friends • Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter

In today's episode we focus on Connections.  Our guest Chris Berg shares how he BRRRRed his way into real estate investing and grew to 150 doors in 5 years.  Spoiler Alert, it was all about relationships!  Chris tells his story and explains what you can do to find the same success. We're glad you joined us! Chris's Three Steps to REI Greatness: Provide Value Get Educated Keep An Open Mind   SECTION 1: Chris tells his story   Chris was a teacher and his wife was a college professor.  They we're making a lot of money and Chris was looking for a side hustle.  A friend had a bunch of properties and encouraged him to start investing.  So he studied.  He listened to every Bigger Pockets episode, watched Loopnet, Trulia, Zillow, etc.  He found a triplex close to his house and pulled the trigger.  From there he realized this stuff was fun and he was good at it.  He started pulling together more and more deals.  Now he owns and manages about 150 doors.     SECTION 2: The Value of Relationships   There are a couple of parts to this: Find mentors, folks who are further along the path than you are. Find a way to provide value to them by finding deals, providing a service, etc.    Don't be afraid to thoughtfully inject what you do into conversations. Don't be salesy. Don't walk into the room and yell it, but inject your stories wherever you can .  Let people know that you buy houses.   Tap your service providers for leads. Show them you're good at what you do and ask them to share opportunities.  Contractors, property managers, insurance agents, they all know who's buying and selling.     SECTION 3: A Diverse Portfolio   Chris has three main types of properties.  Each serves a specific purpose in his overall strategy Buy & Hold – stable and safe Short term rentals – profitable if a little volatile Flips – Quick cash flow   Being able to diversify makes the portfolio strong.  His real estate investments pplay very much like the stock market.  He can leverage the part that's don't the best to support another that may be struggling.  The Covid scenario with his short term rentals is a great example.  That would have been a major problem if his entire portfolio was in short term.  But it's not so he was able to weather the storm.   How to find Chris: Kirkwoodbtown.com   Mentioned in the show: Loopnet Zillow Trulia   Special thanks to Chris Berg for taking the time to share so many great insights with us   If you enjoyed this podcast, there's a couple of things we need you to do right now:  SUBSCRIBE to REI Clarity onApple Podcast, Spotify, or wherever you listen to podcasts  While your there, please RATE & REVIEW the show  SHARE with friends Finally, please, JOIN the REI Clarity Facebook Group Then, please share the show with whoever you think it will inspire. Until the next time, We truly appreciate you listening. Need the REI Insurance Guy? More great stories & information at: Youtube - Blog - Podcast Facebook - Twitter   If you're a transcript type of person, Here you go: You're listening to the REI Clarity podcast. The show that guides you from confusion to clarity and sets you on the path to financial freedom faster. Learn how to grow your portfolio the right way with your host REI superhero, and co-founder of Shine Insurance, Jeremy Goodrich. Jeremy Goodrich:          Hey, this is Jeremy Goodrich, owner of Shine Insurance, and your host for the REI Clarity podcast. So excited to have you with us today. Our guest is an investor. He's a realtor. He handles properties in a lot of different ways, and he's going to talk about that experience on many different sides of the coin with us during our 30 minute conversation today. Chris Berg, thank you so much for being with us. Chris Berg:                    Yeah, thanks for having me. I'm excited. Jeremy Goodrich:          Tell us a little bit about how you got started in real estate investing? Chris Berg:                    Yeah, so just to start from the beginning, I was a teacher for 14 years, and then I continued being a teacher even after we started investing. I think, we're only in this for five or six years now, but we took a road trip, my wife and kids, and I took a road trip to Colorado and we went camping for a month. And on the way back, I was like, I want more of this.                                     And then on the long drive, back from Colorado through the Plain State [inaudible 00:02:57] looked at my Indiana teacher retirement fund, and it wasn't pretty. I'm like damn, how do I get more money? She's a college professor, but she's into school nurses though. She took a big pay hit, going into education as well. I'm like yeah, we have a good life, but what's the next level.                                     I just reached out to my best friend. I'm like, Hey man, what's the best way to get wealthy. And he said, you're really good at real estate, because I'd been doing it for years. I'd fix up my own houses. I help people fix things. I read a lot about it. He's like, why don't you just buy a property and see, because he owned hundreds at the time. I said, all right.                                     We started doing what everybody else does, going to LoopNet or Zillow, Trulia and literally by the time we got back to West Lafayette, which is where we lived at the time, my wife [inaudible 00:03:44] found something on MLS, which, people say it's dead and you can't find any deals there, but we took the equity from our home because we'd fix it up and got it appraised, and literally bought a triplex, a student rental triplex on the campus of Purdue. Jeremy Goodrich:          So your first purchase was a triplex and it was a student rental triplex? Chris Berg:                    Yeah, it wasn't pretty- Jeremy Goodrich:          [inaudible 00:04:05] it got you in. Chris Berg:                    But it surprised us because it was three doors down from us, so easy for me to manage. I dip my toe in the water with the property management side of things and just learn. The day we got it appraised, which wasn't soon after we bought it, it appraised for 50 grand of what we bought it for. So it wasn't, but two months later we were able to use the equity from that and roll it into a fourplex. So within a matter of months we were owners of seven units. Jeremy Goodrich:          And have you continued to do that? Kind of take the equity out of one, use that as the down payment for the next, kind of almost a bare type of approach and take it from there. Chris Berg:                    Yeah. So what we did is, we moved to Colorado. It's been a little over a year and a half ago. When we left town of West Lafayette, we sold those for a decent little profit. We did our first 1031 exchange into an 11 unit apartment complex. So we upgraded and the number of units that took care of that. We've obviously we've increased the value, it's appreciated. So we did really well on that.                                     Recently we went under contract and selling that as well, we're in our 90 day period for the 1031 exchange currently. Jeremy Goodrich:          So that was kind of your start, it sounds like over five years, you've grown. Can you tell our audience a little bit about where you're at as an investor right now? Chris Berg:                    Yeah, currently I have partners. I am a broker. I own my own brokerage here in Bloomington. It's called Kirkwood Realty and it's brokered by a larger company, a parent company called eXp. I do the traditional buy and sell for everybody and also for myself. We have a great business model for house flipping because that's the passion projects, helps us be creative. With my partners, I manage 112 units, doors and then my wife and I owned 69. I manage the managers. I'm like the acquisitions plus the overall portfolio manager of all of them. I deal with the day to day operations of those and then I'm the boots on the ground guy, for the flipping business as well. I deal with the contractors. I do the acquisitions, all that stuff. I do a little bit of everything. Jeremy Goodrich:          It's fascinating to me. The folks that I meet in this industry that seem the most fascinating are, doing kind of what you're doing, where not only are you investing in a couple of different ways, it sounds like you're doing a lot of buy and hold and you've built your portfolio up, but then also flipping for the creativity and probably for the cashflow sometimes I would imagine. Chris Berg:                    Yeah. Jeremy Goodrich:          But then you're playing a central role for other people. You sort of the brains and I'm might be putting words into your mouth. So tell me, but you're kind of the brains behind the operation. Where other people say, hey, I've got some money or, hey, I've got some element of it. And you're like, hey, well I love this. I'm good at pro formas, I'm good at connecting with other people. I'm already a realtor and so I can find things maybe before other people. You sort of play a central role for partners, could you describe a little bit how you started doing that and maybe for a listener who wants to play that role? What works? Chris Berg:                    Yeah. So every podcast you listened or book, when you start in the business of real estate you want to provide value to someone. And so I started doing that to my business partners, providing value. But you and I before the podcast, we're talking about me being, I have a high motor, so I just don't stop. If I were to just do, be a real estate agent, that's a tough job alone. But my creativity, my passion wouldn't be fulfilled. Doing the management side and the acquisition side, all of that helps and I like helping other people do that as well because not everybody sees the full picture. Since I have my fingers in a lot of different pots, I feel I have this broad knowledge to help people who want to be investors, people who just want to get rid of their homes, people who want to renovate homes and just want me to bounce ideas off of, I'm happy to do that.                                     I'm a no fee type of guy when it comes out stuff, because number one, I love it. Ever since I left education, I feel like I'm missing that piece of giving back more. So a lot of my services are free when it comes to asking me, what should I do?                                     I'm happy to hold a hand every now and again, eventually, my [inaudible 00:08:25] is going to be taken up, but I like to guide people. It's part of the giving back projects that we do, is just helping people better because I've seen what real estate has helped me with. So I want to help other people do the same.                                     Hopefully people look at me as a resource, if they want to get rid of a home and or they want my help flipping it, or they just want to sell it. Hopefully they call me or knock on the door and say, hey can you help me with this? Because I'm happy to do it.                                     I'm definitely not the brains behind the project. My partners are very savvy. I feel like have a niche of finding properties and I feel like I have a niche of evaluation of properties, but all the credit doesn't go to me. My partners, they started before I did and it's the reason I look at them for mentorship as well. Jeremy Goodrich:          I heard a couple of things there. One, you and I have that in common that we're both former educators. I think that being a former teacher gives you the capacity to, one, like kind of empathy, right? Clearly we've both chosen to have jobs that we knew were not going to make us a bunch of money. There's some like element around that, that I think the service piece is really valuable and important.                                     The other one that I've found is that the capacity to explain things, I say to folks a lot, I explained how to do division to fourth graders for 13 years. I can explain how to navigate, REI insurance. I think there's something about former teachers who can explain and describe things in a way that isn't talk downey. That isn't like, let me show you how much information or knowledge I have. It's just kind of like, okay, here's my best of my ability, here's what I see and here's what I understand. So part of the value, it sounds like you bring to these scenarios is simply being an educator and the other is you found your value in being a resource on the element of finding properties. Chris Berg:                    Yeah. Jeremy Goodrich:          So, if a listener is like, well, I know I have this value, maybe I don't have the money, but I have the ability to, I'm a realtor and I know that I can connect with properties and be able to connect them with other people. Let's see if I can find someone with the money or just the ability to like reach out to people and talk with them about the stuff they're doing and what they're working on, ends up being an opportunity for you. Not that, that's what the intention behind it, you're just trying to help people but then it becomes opportunities as well. Chris Berg:                    You know, we've only been back in Bloomington and I've been in Indiana my whole life except for the one year in Colorado. But since we've been back, most of the deals we have with flips come from relationships and just mentioning, hey, I'm looking for another home. A lot of times they don't come for two or three months, but people, they come to me with deals and say, hey, my mom, she wants to get rid of her house. She doesn't know what to do with it. She doesn't want to list it on the market. It's in really bad shape. Do you know anyone? And I said, yeah me, this guy. Jeremy Goodrich:          Exactly. So let's talk about those relationships. How can a listener really, if they're wanting to create relationships, what are some of the ways you found that do that the best? Chris Berg:                    Yeah, the most organic way is, and I had a hard time doing this because I was never, I'm an entrepreneur, but never felt like I was a business person. When I engage in conversation, which I don't have a problem with, it was easy to tell people it was in education, I was a teacher, but when it come to telling them I'm a real estate agent or an investor to me at the beginning of this career path, it felt a little sleazy to me. I don't know why, but it just did. But- Jeremy Goodrich:          So with you, I'm so with you. Chris Berg:                    Pumping it into a conversation, It doesn't mean I'm trying to get the business. Now I'm just saying I invest and that's what I do. I'm super passionate about it. I love it. There's so many aspects of real estate that I love. So now getting myself and my wife to talk to people about it is becoming easier, but just, organically thrown it into a conversation is the best piece because there's always somebody listening who either owns a home or know somebody who wants to sell a home or get rid of a home.                                     I can talk real estate all day, so it becomes this natural conversation and I think they see my passion with it. Even if I don't buy the house, I will truly help them. I'll show them the best realtor for that type of home or the best way to go about it. I've talked to several people that wanted to flip or just get rid of the home. I've talked into refinancing because they just don't know the strategies of refinancing and using their equity for their benefit, so I've talked to them. So I feel, I've even lost deals from helping people get better in that way. Jeremy Goodrich:          I've talked to, in fact, an apartment association, I was talking with them about risk. They asked me as an insurance agent to come talk to them about risk. I was like man, insurance presentations are always the most boring. How can I make this not boring?                                     So I really talked about this balance between, look, everything we're doing is a balance between two things. One, on one side it's making money. If we're not making money on some premise, then we're not a business and we're certainly not going to be able to keep doing this for very long. On the other side, it's helping people, if we're not helping people, then we're just like some other terrible person out there, a slumlord and not doing what they're supposed to be doing.                                     If we're looking at our business and our investment properties as a balance between making money and helping people, we're naturally going to what you were saying, where we're naturally going to find great opportunities, because we're just trying to help people. In the case of the conversation I was having, we're naturally going to make good risk decisions. We want to make sure people get down the staircase properly and don't fall down. We want to make sure there's a smoke alarm in each apartment, so that if there's a fire, they don't die. These are just basic things we do if our intention is to help people at the same time. Chris Berg:                    You know, you and I haven't talked about this, but you've used the word risk [inaudible 00:14:13] and that's one of the reasons I never jumped into real estate earlier is because people see it as a very risky thing to do, rather than have that steady paycheck. The more and more people I talk to, because I really want to get more people into investing. I find out that there's just a large population of people who are so risk adverse that they're afraid to take action. But I will tell you, when my wife got on board with investing, which she wasn't always, as soon as she was on board, we took that one step, that leap of faith. We saw how it actually works. The tax advantages on the buy and holds, the flipping side of things, the flexibility in our day to day life that provides. Once we saw it work, our belief started going up and up.                                     That's one thing I'm trying to portray to other people who have not gotten into investing yet. Who have the knowledge, but just don't want them to take the first step. I'm trying to find a different way to explain to them that the juice is worth the squeeze. Jeremy Goodrich:          Yeah. It's like pouring out of a cup of risk or I'm using that again. But yeah, you have to take those first steps and then you see the value of it. So as far as those relationships, one is just talking about it all the time, like making sure that you're not forcing real estate into conversations, but truly just chatting with folks about what you do. Why you do it and why you love it is valuable. Chris Berg:                    Yeah. Jeremy Goodrich:          Are there other ways that listeners can build relationships that you've seen work? Chris Berg:                    Yeah. A couple things that I do is the contractors that I work with, the boots on the ground guys. I work side by side with them sometimes on the first flips that we do, to show that not only that am I knowledgeable, but I have a strong work ethic and that once they see that and we get more of a personal relationship, they're more, I've gotten several deals just for my contractors because they see that, I'm in it for the right reasons. I think that's an approach a lot of people don't take, because they get into this and they don't want to get their hands dirty, but I enjoy doing that. I don't like to sit behind a computer all day. I like getting out there and doing that, the real estate agents in town, getting out there and doing the dirty stuff with them as well.                                     We don't always love doing open houses, but I'll stop in and do the broker's opens with them and have conversations. That's different ways to create relationships with those guys as well because being an agent isn't as easy as what people think it is, it's a job that requires grinding. Jeremy Goodrich:          Yeah. So it's like connecting with your service providers in some ways. Chris Berg:                    Yeah. Jeremy Goodrich:          I think that we all know our network of folks and contractors is certainly in there. If they know what you do, why you do it and how you do it, then they're going to be likely to share the deal with you and that makes a ton of sense.                                     I want to talk a little bit about another topic, digging into the idea of diversifying your portfolio. You have a pretty diverse portfolio, as far as I can tell. It's multiple different places. It's multiple different types of investments. Is there a reason you've chosen to be as diverse as you are? Chris Berg:                    Well, because the market number one is volatile and you never know where it goes, but we enjoy all of our asset classes. As you know, Shine Insurance has the bulk of our portfolio, but we have short-term rentals. We have Lake homes. I believe we have four now, but because we just sold one. We do the Airbnb and BRBO, our cabins are in Kentucky and Tennessee. Then we have the apartment complexes as well and then obviously the flips.                                     We do it, number one because it's learning, so it's the education piece and we see the advantages of all them. We do the flips for the instant cash. We do the Vrbo and Airbnbs, those happen to be our best returns, but they're not in guaranteed especially COVID, and everything that it's brought to our doorstep, but the buy and holds the tax advantages, especially when you get into any of the tax advantages that we do, cost segregation and different things like that. Then as of this week, we're diving into mobile home parks. Jeremy Goodrich:          Oh cool. Yeah, there's a lot of people who've been very profitable in that type of investment. I think when done, right. It's a pretty solid way to invest. Chris Berg:                    It is. There's a few tax changes that recently came out that helped us decide to move towards that, so we're pretty excited about that acquisition. But, there'll be a huge learning curve for us as well, but we're pretty excited about it. But each bucket helps each other, so sometimes when our short-term rentals aren't doing as well, our long-term rentals help feed that. We've been able to keep each asset class afloat, taking the cashflow of each and helping each other with renovations, CapEx or whatever happens to be. Jeremy Goodrich:          That's really cool. So what I heard was, flips are cashflow, Airbnb tends to be a profitable space, buy and hold helps with taxes and also is probably the most stable of them all. And then the new mobile homes probably fairly profitable. Sounds like you're kind of learning about that space as you go. Let's talk about COVID for a second. You've described how diversifying has helped you. Certainly someone who is all Airbnb right now is probably hurting more than your portfolio is. How have you seen it affect your portfolio? Chris Berg:                    Man, it's crazy because I manage all of our Airbnbs, the first two weeks it was a massive canceled reservations across the board. But then the later this is last [inaudible 00:19:45] I mean, sounds like a play on words or a pun, but [inaudible 00:19:48] people are having cabin fever, so now more and more people are booking. So lots of cancellations beginning and then booking.                                     Airbnb admitted fault a couple of weeks ago. They allowed 100% cancellation refunds to anybody, which put the owners in a bind. Because we're business owners and now they're helping us out with a 25% refund of those. Jeremy Goodrich:          Oh, that's cool. Yeah. Chris Berg:                    Yeah, they're doing okay in that regard, but our Lake homes there's specific type of short-term rental, they're all waterfront or water access. It's definitely a vacation type of spot. It's not in the middle of the city, that they're isolated. So we haven't felt the hit as much as other people have. But I will tell you this outside of COVID, well, I guess that helps with COVID, so when COVID hit my family and I were going to one cabin, it happened right at spring break. So we took our kids down to cabin just to check up on it, see if it needs a paint job. We do some yard work, but then we found that they were shutting everything down. So we extended our vacation and we bounced around to all of them. We stayed at like a week or two at a time and we were able to turn it into a smaller vacation. I felt like we were cheating the system. Jeremy Goodrich:          That's really cool though. Chris Berg:                    It's the one asset class, we can truly enjoy personally. We can book it out for a week or two in the summer and we can go and enjoy those. If any of the listeners are able to do that or look into it, I'm happy to help them out or they questions about, happy to help them out with that as well. But it's that one asset class you can truly enjoy with the family, which we enjoy. Jeremy Goodrich:          It seems like and what you're saying is that it may be not as volatile as I was thinking it was, but it seems like Airbnb is a pretty big risk at this point, but you're saying, you're seeing some return of bookings. Chris Berg:                    Yeah. We've seen a return on books. I will tell you this though, this is just my thought. Airbnb is taking the side of the consumer rather than the business owners at this point. I think they're backpedaling a little bit. Jeremy Goodrich:          Yeah. Chris Berg:                    So we'll see, we happen to be more keen on Vrbo than Airbnb, we like their platform a little bit more. We feel like their policies are a little bit more strict and which help us out, but you have to be on both platforms to be competitive in the market. Jeremy Goodrich:          That makes sense. All right, so the two topics we dug deep into are relationships, how to build great relationships and then diversifying your portfolio. Great example of why to do that is right now with this COVID scenario, you've been able to, because you have a diverse portfolio sort of makeup losses in one area with the stability of other areas. I'd love to move into for those listeners who really want to take the leap from three to 10 doors up to finding financial freedom faster with a larger portfolio, getting to that place where you're at Chris, what are three steps that they could take to get there? Chris Berg:                    Well, the first one be providing value. Well, I have a bunch of steps, Jeremy, I don't know where I'm going with this, but I will tell you this. Jeremy Goodrich:          It's fine you can give me whatever you want. Chris Berg:                    I kept an open mind when I went into investing and the number one thing I heard was provide value. So what I didn't talk about is my wife and I are partial owners of a 42 unit in Louisville, Kentucky. We got in on that with zero money and then we also purchased a 16 unit, we're 50-50 owners of that one was zero money. It's because I found the deals, I put them together. I'm the boots on the ground, the manager of the managers. I did that because I provide value, there's so many different ways to get units, but you have to have an understanding with whoever's looking.                                     If you can provide them value rather than taking a paycheck, somebody could've given me 10 grand to find the 42 units and some people would run with it. Luckily we didn't need it. We live frugally, we do okay. We're not high rollers, so I didn't need the 10 grand so rather than take, and it was more than 10 for the 42 units. I said, I want the equity and then my partner, it's a different partner that, we have the units in [inaudible 00:24:04], that was a straight up cash deal. He said, I'll give you 50-50, if you find it and you do everything. So, I got lucky on that one. So I'm a 50-50 owner on [inaudible 00:24:16] those with zero money in the deal. Jeremy Goodrich:          Wow, so as a [inaudible 00:24:18]- Chris Berg:                    We've done capital injections or was it even an acquisition by realtor. We found an off market, it was pre-market type of thing- Jeremy Goodrich:          That's awesome. Chris Berg:                    So many different ways, but I will tell you if you don't have the network of people that I do, which is, I think there's always somebody looking, the way that we got in, I truly believe it is, the BiggerPockets calls it house hacking. We house hacked. We took a decent home and we renovated the kitchen and the bathrooms and we did landscaping and we called in an appraiser and he appraised our home for 70 grand more than we bought it for. We took 80% of that and we bought the triplex. And then the triplex turned into a different one, so using the equity in your own home is an excellent strategy. Jeremy Goodrich:          Yeah, that's kind of creative financing maybe not the key definition of creative financing, but it's a obvious way to creatively finance something by using the equity in your home and starting from there and growing out of there. And realizing that sitting back and growing equity in a home is one approach. Certainly there's positive to that, but that equity is the capacity to grow that number exponentially. I think a lot of people are finding more and more that using that equity to grow your portfolio is a good idea. I guess maybe I turn that around into a question. What are your thoughts about when to use your equity and when to grow equity in a property? Chris Berg:                    I think the answer to that is individual, you'll know when you're ready. So to this date, we have taken zero dollars from our investment properties are buy and hold because they are long-term play. When we were ready for long-term play, we said, let's use our equity. That's when it's time, when you've had almost enough of like the status quo, if you can buy a house for a 100,000 and you need 30 grand to fix it up, look at your equity and see if that's enough to get that done. So, when the time is right. Jeremy Goodrich:          That makes total sense. Okay, cool. So providing value was the first step. What would the second one be? Chris Berg:                    It's easier for me than you to say, but it's all day it's education. Education, it doesn't matter how you get it. It's podcasting, it's reading books, REI groups, it's mentorships. I'm always talking and thing is I'm learning every day, there's so many different strategies. I think a lot of people get into this after they read Rich Dad Poor Dad but mine was a different book and mine was a different, I'd read Rich Dad Poor Dad and it helped me conceptualize the whole idea of investing in getting money to work for you. But I use all of these education pieces to help me podcasting books, REI groups and then I have my mentors, which happens to be my best friend and my other partners. So we all just bounce ideas off each other. We get creative. Jeremy Goodrich:          That makes sense. I've heard over and over again that, there's two pieces to making good decisions. The first one is education and the second one is experience and you can't buy experience, but you certainly can buy or find or put headphones on for education and you build that foundation and then you make some decisions, take some chances and get that experience. Chris Berg:                    Yeah. You know, I've never told somebody this, but when I got serious about investing and it was years ago, but first podcast I listened to on the way back from Colorado was I think it was Spouses Flipping Houses. It was okay and it got me, peaked my interest. Jeremy Goodrich:          Was it like interpersonal part of like two people married to each other and having to navigate the construction and yeah, okay. Right on, cool. Chris Berg:                    It was great and then again, my business partner, he goes, have you heard of BiggerPockets? And I said, no. So I literally, I jumped into like episode 100 and then I'm like, wow, this is good. And so all I did, and this is anybody who gets obsessed about anything like me, I'm all the way to episode number one. I listened to every single one. When I went jog, mowing the lawn. I always had my headphones and I listened to it. It's a complete education. And it's a bunch of terms you didn't understand, once you hear them a hundred times, you start to understand it. It was just great. It's fun. Jeremy Goodrich:          So providing value and your example was how you got into these 42 and 16 units by being the person who facilitated finding those buys and then education learning as much as you can. Let's finish out this episode with one more step to clarity for someone who wants to take that big leap. Chris Berg:                    Mine is, whatever opportunity, so this is a keep an open mind part a little bit. I guess I'm giving you four, but it doesn't matter if it crosses my desk, my crosses in front of my face. If it's an opportunity, I truly heard it and I don't know who told me, but a lot of people have heard it. It's not, I can't afford it. It's like, you have to ask yourself, how can I afford it?                                     If it's a deal, it's a deal. If I don't have the money in my pocket, I've got to figure out, all right, I don't have it, but how can I get it? I don't have to own a hundred percent of it to be a victory. If it's 10%, then I'm super happy as well. It's 10% better than 0%. Then I think the one thing that I bring to the table is just grinding. I'm non-stop all the time. Again, I'm never focused too much because I'm always thinking about the next step or something else going on, but I'm always out there grinding. My wife hates the word grind. No, she hates the word hustle, which I think is just a spin on the word grind. Hustling sounds a little bit more sleazy. Jeremy Goodrich:          You can do both hustle, grind, work hard, get it done. All of them you can do well and you can do poorly. You can do ethically and you can do sleazy, but it really is. It's just like hard work and I think that you put a lot of things together. Chris Berg:                    Yeah, that's a good way to put it, it's just hard work. Jeremy Goodrich:          Yeah, absolutely. Chris Berg:                    The truth is, one thing I haven't portrayed in this interview is, I fricking love what I do. I'm having a blast. Jeremy Goodrich:          Yeah. Chris Berg:                    I mean, as soon as I get off here, I'm going to go to a listing meeting for a probate and I'm super excited about it. Because, I know I can help the family out to get rid of that asset and help them make some money. Then I'm going to go over to a flip house and see how the renovations are going. It's so much fun, this whole real estate investing. Jeremy Goodrich:          I love it so much and it's exciting to listen to you and hear from you, Chris, on how you're doing it. I feel like there's been a lot of insight here and a lot of forward progress. So you mentioned that you're willing to help folks out. Obviously no one should be taken advantage of that. But if someone does want to get in touch with you either for some help, some questions or to have you, do the work that you do for them, how can they do so? Chris Berg:                    Yeah, they can email me, which is livekirkwood@gmail.com. So live Kirkwood, gmail.com, or they can text me. It's fine. It's kind of the hug of death if give out your phone number, but they can find me on the internet. Jeremy Goodrich:          Yeah, sure. Chris Berg:                    kirkwoodbtown.com is my website. It's pretty basic, but it's good enough for information and my contact information is on there. I do Facebook posts and Instagram and I have a small YouTube channel, all that stuff. So find me on social media. Jeremy Goodrich:          Sweet and all those things are linked in the show notes below the show. If you want to find Chris, there's all those ways to do that. Chris, thank you so much for being on the REI Clarity podcast. I think you created clarity for a lot of folks today. Chris Berg:                    Thanks man. I appreciate it, had a great time.

In this episode, Jeremy interviews Mark Kelwaski, one of Jeremy's favorite investors and an incredibly rich source of REI info.  We zoom in on his detailed approach to a smart proforma. Download Marc's Monopoly cards HERE How He Got His Investing Start Mark originally began investing after being inspired by his wife's grandparents, who made a living in the investing market. Mark and his wife bought their initial property, a townhouse, in the Bloomington area where they currently lived. Although they started small, Mark's expertise allowed him and his wife to build up to 130 unit investments over five years. To say that they experienced phenomenal success is an understatement. How Kelwaski Reached 130 Units in Record Time Of course, Mark's success wasn't just the result of luck. Many things influenced how he made property buying decisions and how he ran his businesses. Look for the Value You Can Add to a Property's Existing Value For starters, Mark stresses the importance of always looking for value that you, the investor, can add to the value already existing with a given property. As an example, he tends to look for properties that are not only already generating cash, but also properties where he can improve things to get an even greater return. It's not quite the same thing as flipping, where you buy subpar properties and make them desirable again for a potentially great return. Instead, Mark looks for synergy; he tries to figure out what operating mechanisms he has that can produce more cash for a given property, provided that he applies the right knowledge and resources to the unit in question. He also stresses the importance of doing some fixup work yourself, especially in the beginning. He managed to keep several percentage points of his revenue in his own pocket while making properties more desirable in the long run. Bring on a Property Manager Mark didn't go it alone for long. After purchasing his first multifamily property, he decided it was time to hire a property manager. Even though he gained lots of experience managing his properties himself, he knew that the benefits would outweigh the costs. Specifically, Mark found that he needed more time for other aspects of running his businesses. So a property manager became a necessity instead of a luxury. Property Managers Make Sense When You See Better Returns Of course, many new investors hesitate to bring on property managers because they don't want to lose some of their overall returns. Yet Mark found that property managers made a lot of sense for his businesses as he saw better returns. As he purchased and managed larger units and multifamily units, he eventually freed up enough income to contract for different services. This, in turn, freed up more time and money for him to pick up new properties and add to his overall portfolios. In time, his returns increased exponentially, even when hiring a property manager. In this way, he shows the value of waiting until the right moment to hire a property manager, but not hesitating to pull the trigger when it is the right time. Mentors and Advisors Mark also shares some advice relating to mentors and advisors, which is valuable since many property investors start out on their own. As he learned the ropes, Mark reached out to other property owners and his wife's family in particular, as they had significant experience in the real estate investing market. Mark stresses the importance of having a few advisors and mentors. They can point you in the right direction or prevent you from making simple mistakes. Mark also has a dedicated team that he trusts for day-to-day operations. As his businesses have grown, so too has his investment network. Now he has a collection of people he can call upon for advice whenever he needs. Friendly Competition Interestingly, Mark notes that, because there's always enough investment opportunity to go around, it's easy to ask for advice or mentorship from fellow real estate investors. Trading strategies or success tips with one another can be invaluable and help build a better investing community as a whole. Experience Adds To – and Even Slightly Trumps – Education While mentors and advisors were important, Mark also found that his experience in the pharmaceutical industry played an unexpected role in his real estate investment success. He worked in the industry for 15 years before breaking into real estate investing. Over those years, he negotiated several multimillion-dollar contracts and interacted with customers of all types. These soft social skills ended up being huge benefits when he needed to negotiate with buyers and sellers in the real estate investing sphere. This being said, Mark also notes that education only gets you so far. He says that there's no replacement for actually experiencing your first multiunit purchase. He's learned a lot from every property he's acquired and all the time he spent talking with various sellers. He dove deep into a specific example where he met a seller who was looking to sunset his property. He had to navigate a potentially difficult purchase where the home didn't have flood insurance – and the owner wasn't even aware! Pro Forma – How to Measure a Property's Output Mark detailed his pro forma strategy, or the way in which he was able to consistently and accurately measure the potential output of a property he wanted to buy. For Mark, the best process would have him: ● look at the past history of the property ● determine what he felt the property would look like in the future in terms of income and expenses ● see what other details might factor into the overall cap rate, price, etc. In fact, Mark made heavy use of spreadsheets in order to look at the raw numbers for every potential property he considered. He states that it helped him take the emotion out of various properties, which resulted in better purchasing decisions. To this end, he also built his own pro forma tool instead of using one that he could've found on Google. Building Relationships with Sellers is Key for Accuracy Determining whether the numbers that a seller puts up for a property are accurate is one of the trickiest-to-navigate aspects of any real estate deal. For Mark, the best results came from building relationships with those sellers and asking for actuals. In some cases, full disclosures are present from the get-go. But in many other cases, Mark found that he needed to look for other numbers or actuals from the past. He was able to get those actuals because of his friendly demeanor and the effort he put forward into building an actual relationship with the sellers of his potential properties. This way, he could ensure that both parties got a profitable deal from the exchange. Do Your Due Diligence When Finding Properties to Pursue Mark did and still does use “Monopoly cards” – these are small cards he uses for his pro forma notes. He writes down all the details of a potential property so he can check numbers when he gets back home. It's this due diligence and attention to detail that has resulted in a phenomenal portfolio after just a few short years of investing. He also practices this due diligence when he's asking specific questions to his sellers. For instance, he'll ask for actuals from the past 12 months, or he'll ask for repair histories and more. The point, he says, is to be detailed in your investigation so you're always getting a great deal. You'll often have to dig for the information you need for yourself, although it's not always out of some scheme to cheat you. Sometimes sellers just don't know what you need. Repairs Are Especially Important On Pro Formas Within his pro forma process, Mark has always paid special attention to repairs. He lumps all of his repairs together to bring all potential costs to a single number. In his mind, properties that have lower repairs mean more profits over time since there's less money that has to come out of his pocket. Still, due diligence is important – for instance, he says, what if the lack of repairs is because of deferred maintenance? As an example, Mark detailed a story where one of his properties had a furnace that was barely working. The former owners hadn't fixed the item, so it ended up costing more in the long run. Know What Other Units Are Renting For Another big thing that Mark does to ensure overall profits is always be checking various online resources like Zillow or apartments.com to see what other properties in the area are renting for. This is one of the ways in which he keeps his own rental rates competitive and profitable. Walk the Neighborhood Mark also shares that he will frequently walk around in a neighborhood to do some rental price scouting. He finds that even asking people what they pay for their rent often provides actionable information that he can use as data points for his own purposes. Furthermore, putting his “boots on the ground” allows him to scout out new potential investment opportunities without being limited by a computer screen. Three Steps to Clarity – Mark Kawasaki Each episode of REI Clarity features three steps that the guest might use to better their investment success. Here are Mark's. Solid Deal Analysis – Know What You're Getting Into The first thing Mark recommends for better investment clarity is solid, consistent deal analysis. He stresses the importance of always understanding what kind of deal you're making and what financial agreement you're getting into. Mark is decisive himself, so he's never had an issue pulling the trigger on a deal that he felt good about. But ultimately, he implores the listener to get all their details down so they know if and when to make a buying decision. Defined Operating Mechanisms – Have Good Workflows in Place The next tip relates to how you run your business. Mark stresses the importance of having excellent workflows or “operating mechanisms”, especially as your business and portfolio grows. It's critical that you know how your work orders will be handled, how your rent will be increased annually, who's in charge of handling property taxes, and so on. Even if it's all done by you, you should still be aware of how work gets done and who's in charge of each task. Build a Network – Know the People Lastly, Mark states that building a network is easily just as important as any other part of the investing process. Networks help you find buyers and sellers, particularly the latter. To Mark, it's much more common (and enjoyable) to get a potential lead on a deal just from networking and telling people what he does. Like the old saying advises, network, network, network! Last Thoughts The episode wraps up with a final message from Mark: always feel free to reach out and ask for assistance. The resources you can find for real estate investing are vast and helpful. We're all here to build up passive income and pass on wealth to future generations, and we can do that together by supporting one another. Mentioned In The Episode Shine Insurance If you enjoyed this podcast, there's a couple of things we need you to do right now: ● SUBSCRIBE to Scratch Entrepreneur on Spotify, Apple Podcast, Stitcher, or wherever you listen to podcasts ● While you're there, please REVIEW the show ● SHARE with friends ● Finally, please JOIN the Scratch Entrepreneur Facebook Group Then, please share the show with whatever you think it will inspire. Until the next time, we truly appreciate you listening!

Welcome to the REI Clarity Podcast!   Your number one goal as a property investor is to build financial freedom faster.   Every new property represents the potential for early retirement, more vacations, a new hobby, and a deeper connection with your family.  But the wrong buy could be a money pit and take you ten steps in the other direction as well.  When you're a part time investor, one tenant moving out or one over budget flip and money is draining out of your pocketbook instead of filling it. The difference between success and failure is clarity.   The more clarity you have the quicker the path to financial freedom.  This show is all about giving you as much clarity as possible.  The REI Clarity podcast is a path into the mind and strategies of investors who've graduated from part time investing and are leveraged real estate to build financial freedom faster.  Many of our guest have found the mountain top and are experiencing financial freedom.  Every episode will get you closer to that same outcome. My name is Jeremy Goodrich and I'll be your host on this journey. Over the past seven years I've served as an advisor to hundreds of real estate investors.  I've seen every strategy, some very creative financing, lots of success, and little failure, and everything in between.  I've advised investors with 1 property and others with hundreds.  For most investors, our first connection is my knowledge around  investment property insurance.  Like a good accountant, realtor, lawyer, or property managers, an insurance agent that specializes in real estate investing is a priceless asset towards achieving your goal. But the best service providers are much more valuable than the specific role we play.  We become trusted advisors and connectors.  We make smart investing easier because we see it from a 10,000 foot view. In fact, if you think about it, your accountant and your insurance agent may be the only two people in your world that can see the entire picture. So if you are looking for clarity, this show will provide it.  Every Monday we'll put out a new episode.  One week we'll feature a guest who has crossed the threshold from hobby investing to a tried and tested approach to building real financial freedom.  We'll hear how they made that leap, dig into their strategy, and hear their take on how you can follow in their footsteps.  The next week, I'll zoom in on one clear take away from the conversation. Clarifying the role of that step in your process and challenging you to take action around it.  The combination will clarify your journey and shorten your path to financial freedom.  There are zero investors who have it all figured out, who are completely clear about the perfect decisions on every step of the journey.  No one has 100% clarity and this show won't suggest magic bullets, overnight success stories, or zero to millionaire pyramid schemes.  What we will do is learn from real investors who've spent years mastering their craft and zoom in on the steps they took to get there.  We'll see that those who win at investing have a lot in common.  They know how to build smart relationships, they understand their strengths and weaknesses, and they all study the process.  But every investor has a deeply unique approach as well.  We'll get a glimpse at both.   Alright, are you ready to launch your real estate investing journey into the next phase.  It's time to map out the path to financial freedom faster. So smash the subscribe button and head over to episode one.  Our first guest has build a portfolio of about 150 doors over that last 5 years.  He's done it with a clear buying strategy and a custom proforma.  He'll share his strategy and the proforma that helped him get there.  Until then, here's to clarity that brings financial freedom faster. Want More? - It's here: www.shineinsurance.com/reiclarity