Podcast appearances and mentions of tom michael

NPR and PBS stations are bracing for war with the incoming Trump administration. On this week's On the Media, the long history of efforts to save—and snuff out—public broadcasting. Plus, the role of public radio across the country, from keeping local governments in check to providing life-saving information during times of crisis.[01:00]  Hosts Brooke Gladstone and Micah Loewinger explore the history of the Corporation for Public Broadcasting and break down the funding with Karen Everhart, managing editor of Current.[06:59]  Host Micah Loewinger speaks with Senator Ed Markey of Massachusetts, a member of the Subcommittee on Communications, Media, and Broadband, which oversees the Corporation For Public Broadcasting, on his decades-long fight with Republican lawmakers to keep NPR and PBS alive.[13:44]  Host Brooke Gladstone sits down with Mike Gonzalez, a senior fellow at The Heritage Foundation, who authored a part of the foundation's Project 2025 chapter on ending CPB funding. [34:26] Hosts Brooke Gladstone and Micah Loewinger on how public radio stations across the country work to hold local governments accountable, ft: Scott Franz of KUNC in Colorado, Matt Katz formerly of WNYC, and Lindsey Smith of Michigan Public.[00:00] Host Micah Loewinger takes a deep dive into the role of public radio during crises, ft: Tom Michael, founder of Marfa Public Radio and Laura Lee, news director for Blue Ridge Public Radio.[00:00] Host Brooke Gladstone sits down with Sage Smiley, news director at KYUK in Bethel, Alaska, to talk about the station's life-saving coverage of the Kuskokwim Ice Road in southwestern Alaska, and what the region would lose without public radio.Further reading:“End of CPB funding would affect stations of all sizes,” by Adam Ragusea“Is there any justification for continuing to ask taxpayers to fund NPR and PBS?” by Mike Gonzalez“Should New Jersey Democratic Officials Keep Jailing Immigrants for ICE?” by Matt Katz“A secret ballot system at Colorado's statehouse is quietly killing bills and raising transparency concerns,” by Scott Franz“Not Safe to Drink," a special radio series by Michigan Public“The Rock House Fire: 5 Years Later,” by Tom Michael On the Media is supported by listeners like you. Support OTM by donating today (https://pledge.wnyc.org/support/otm). Follow our show on Instagram, Twitter and Facebook @onthemedia, and share your thoughts with us by emailing onthemedia@wnyc.org.

The Vault is a morning show hosted on Twitter Spaces and YouTube Live on Tuesdays, Wednesdays, and Thursdays at 11:30 am EST. The show focuses on multi-chain communities, emerging protocols, NFTFi, DeFi, Gaming, and, most importantly, collecting digital assets.Adam McBride: https://twitter.com/adamamcbrideJake Gallen: https://twitter.com/jakegallen_Chris Devitte: https://twitter.com/chris_devvEmblem Vault: https://twitter.com/EmblemVault

Tom Michael EIU AD 3 - 16 - 24 by Nashville Sports Radio - WNSR

Well, we thought we had covered it all last week, but when it comes to the holidays, stressors come from many places. Part two of our holiday series offers Tom & Michael the opportunity to discuss all the stressing factors that come with the Holiday Season, from people who don't like the season, to people who like it too much, and more! -- Who else but two gay guys over 50 with differing backgrounds lifestyles and viewpoints can lead the discussion on the topics important to the over 50 gay community? When it comes to Tom Burke and Michael Foley, there's definitely No 2 Gays About It! Season 2 is all about the varied and various relationships of Gay Men over 50, and we want to hear from you! Here are the different ways you can get involved: Join our Patreon for early access to videos, episodes, and more! PATREON SUBSCRIBE TO OUR YOUTUBE Email us at No2GaysAboutIt@gmail.com Follow us on Instagram @No2GaysAboutIt And join our thriving Facebook community NO 2 GAYS ABOUT IT Visit our Website NO 2 GAYS ABOUT IT JLV Productions | 2023

Just because we're over 50, does that mean we don't get to be sexual? Tom & Michael discuss the difference between Sexuality and Sex, the importance of confidence, and ways you can embrace your personal style of courtship. -- Who else but two gay guys over 50 with differing backgrounds lifestyles and viewpoints can lead the discussion on the topics important to the over 50 gay community? When it comes to Tom Burke and Michael Foley, there's definitely No 2 Gays About It! Season 2 is all about the varied and various relationships of Gay Men over 50, and we want to hear from you! Here are the different ways you can get involved: Join our Patreon for early access to videos, episodes, and more! PATREON SUBSCRIBE TO OUR YOUTUBE Email us at No2GaysAboutIt@gmail.com Follow us on Instagram @No2GaysAboutIt And join our thriving Facebook community NO 2 GAYS ABOUT IT JLV Productions | 2023    

You'd think being men of a certain age, we'd have this whole communication thing down, but as it turns out, no one really does!  This week, Tom & Michael discuss the different ways to "discuss," and how there is no right or wrong way, only a mutual desire for understanding. That an a special Savage Side-Eye for KISS frontman Paul Stanley. - Join our Patreon for early access to videos, episodes, and more! PATREON Friends Tom Burke and Michael Foley discuss Politics, Pop culture, and LQBTQIA news and issues… all through a very different and often forgotten voice…that of the over 50 gay male. Join them weekly as they bring their voices, their stories, and their years of experience to today's conversations all with a touch of humor and a slight shady side eye. SUBSCRIBE TO OUR YOUTUBE - https://www.youtube.com/@no2gaysaboutit Email us at No2GaysAboutIt@gmail.com Follow us on Instagram @No2GaysAboutIt And join our thriving Facebook community NO 2 GAYS ABOUT IT JLV Productions | 2023    

Tom & Michael discuss how and if May/December romances in the Gay Community could, or even should, work. They also go through what it takes to open your mind to dating men your own age. Join our Patreon for early access to videos, episodes, and more! PATREON Friends Tom Burke and Michael Foley discuss Politics, Pop culture, and LQBTQIA news and issues… all through a very different and often forgotten voice…that of the over 50 gay male. Join them weekly as they bring their voices, their stories, and their years of experience to today's conversations all with a touch of humor and a slight shady side eye. SUBSCRIBE TO OUR YOUTUBE - https://www.youtube.com/@no2gaysaboutit Email us at No2GaysAboutIt@gmail.com Follow us on Instagram @No2GaysAboutIt And join our thriving Facebook community NO 2 GAYS ABOUT IT JLV Productions | 2023  

How many items on the Gay Guy's Bucket List have you accomplished? Are you a "bad gay" if you haven't done any of them? Are you a "super gay" if you've done them all? Tom & Michael go down the list to see what they have left to accomplish before they kick the proverbial bucket. - Join our Patreon for early access to videos, episodes, and more! PATREON Friends Tom Burke and Michael Foley discuss Politics, Pop culture, and LQBTQIA news and issues… all through a very different and often forgotten voice…that of the over 50 gay male. Join them weekly as they bring their voices, their stories, and their years of experience to today's conversations all with a touch of humor and a slight shady side eye. SUBSCRIBE TO OUR YOUTUBE - https://www.youtube.com/@no2gaysaboutit Email us at No2GaysAboutIt@gmail.com Follow us on Instagram @No2GaysAboutIt And join our thriving Facebook community NO 2 GAYS ABOUT IT JLV Productions | 2023    

Michael DeLon is the number one Amazon best selling author of on marketing as the title of his book, The Definitive Guide for Small Business Owners. Since 2013, he's worked with business owners to establish and market their credibility. He helps business owners publish a book that positions them as the expert in the eyes of the audience so they can gain more clients using his credibility marketing systems. Screw The Commute Podcast Show Notes Episode 577 How To Automate Your Business - https://screwthecommute.com/automatefree/ Internet Marketing Training Center - https://imtcva.org/ Higher Education Webinar – https://screwthecommute.com/webinars See Tom's Stuff – https://linktr.ee/antionandassociates 03:16 Tom's introduction to Michael DeLon 08:35 Increasing your credibility and confidence in yourself 11:40 What happens after speaking engagements 17:30 Biggest mistakes people make when doing a book 19:55 Being an Amazon bestseller 23:45 Having the family involved in the business 26:48 Sponsor message 29:40 A typical day for Michael Entrepreneurial Resources Mentioned in This Podcast Higher Education Webinar - https://screwthecommute.com/webinars Screw The Commute - https://screwthecommute.com/ Screw The Commute Podcast App - https://screwthecommute.com/app/ College Ripoff Quiz - https://imtcva.org/quiz Know a young person for our Youth Episode Series? Send an email to Tom! - orders@antion.com Have a Roku box? Find Tom's Public Speaking Channel there! - https://channelstore.roku.com/details/267358/the-public-speaking-channel How To Automate Your Business - https://screwthecommute.com/automatefree/ Internet Marketing Retreat and Joint Venture Program - https://greatinternetmarketingtraining.com/ KickStartCart - http://www.kickstartcart.com/ Copywriting901 - https://copywriting901.com/ Disabilities Page - https://imtcva.org/disabilities/ Michael's website - https://paperbackexpert.com/ Email Tom: Tom@ScrewTheCommute.com Internet Marketing Training Center - https://imtcva.org/ Related Episodes Google Alerts - https://screwthecommute.com/576/ More Entrepreneurial Resources for Home Based Business, Lifestyle Business, Passive Income, Professional Speaking and Online Business I discovered a great new headline / subject line / subheading generator that will actually analyze which headlines and subject lines are best for your market. I negotiated a deal with the developer of this revolutionary and inexpensive software. Oh, and it's good on Mac and PC. Go here: http://jvz1.com/c/41743/183906 The Wordpress Ecourse. Learn how to Make World Class Websites for $20 or less. https://screwthecommute.com/wordpressecourse/ Join our Private Facebook Group! One week trial for only a buck and then $37 a month, or save a ton with one payment of $297 for a year. Click the image to see all the details and sign up or go to https://www.greatinternetmarketing.com/screwthecommute/ After you sign up, check your email for instructions on getting in the group.

Tom Michael is a family farmer from Barunga West standing for the Liberal Party in the electorate of Narungga covering the Yorke Peninsula and Wakefield region, seeking to displace the man elected as a Liberal at the last election, now independent Fraser Ellis.

In dieser Ratssitzung bringen wir unsere Besprechung der The Book of Boba Fett-Serie zum Abschluss und reden über die Fragen, die seit 3 Wochen die Galaxis bewegen. Ist das noch eine Boba-Serie oder doch eher The Mandalorian? Wieso waren Folge 5 und 6 trotzdem grandios, auch wenn konzeptuell ein wenig Verwirrung entstand und warum will die letzte Folge einfach nicht so wirklich überzeugen? All diese Fragen klären, wie auch schon in der ersten Ausgabe zur Serie, Janina, Lukas und Tobias in einer - teils leicht ironischen - Folge des JediCast! Zeitmarken 00:00:00 - Begrüßung00:00:55 - The Mandalorian, bist du's? 00:05:45 - Das ist der Weg...nach Tatooine (Kapitel 5)00:17:50 - Alle, nur kaum Boba (Kapitel 6)00:44:29 - Das Schnittmassaker von Tatooine (Kapitel 7)01:25:11 - Die Pykes und kam Grogu zu früh zurück?01:29:40 - Was hätten wir anders gemacht?01:39:46 - Gesamtfazit der Serie01:46:41 - Bonus: Outtake Die Rezensionen Lukas und Tom-Michael rezensieren die Folgen abwechselnd auf unserem Blog. Warum Folge fünf sich noch unpassend anfühlte, es in Folge sechs aber mehr überzeugen konnte, während Folge sieben hinter den Erwartungen zurückblieb, erfahrt ihr hier. Eine Übersicht findet ihr hier über unsere Datenbank. Den JediCast abonnieren Wir sind auf allen gängigen Podcast-Plattformen vertreten! Abonniert uns also gerne auf Spotify, Apple Podcasts, Google Podcasts (etc.), oder fügt bequem unsere Feeds in euren präferierten Podcast-Player ein. Alle Links dazu findet ihr oben unter dem Player verlinkt sowie auch jederzeit unter dem Audioplayer in der rechten Sidebar. Sollte eurer Meinung nach noch ein wichtiger Anbieter fehlen, teilt uns das gerne in den Kommentaren oder per Mail an podcast@jedi-bibliothek.de mit!

Michael Grace is an innovative technology leader who speaks, presents and writes about how businesses can achieve a transformation by leveraging technology. And several companies have called him, and this is where the unicorn comes in, a unicorn due to his ability to understand the business issue and solve it in partnership with the customer, leveraging the latest technology and process enhancements. Screw The Commute Podcast Show Notes Episode 548 How To Automate Your Business - https://screwthecommute.com/automatefree/ Internet Marketing Training Center - https://imtcva.org/ Higher Education Webinar – https://screwthecommute.com/webinars See Tom's Stuff – https://linktr.ee/antionandassociates 04:08 Tom's introduction to Michael Grace 06:19 Tips on automating your business with technology 17:02 Using Google to solve a business problem 19:38 Sponsor message 22:16 A typical day for Michael Entrepreneurial Resources Mentioned in This Podcast Higher Education Webinar - https://screwthecommute.com/webinars Screw The Commute - https://screwthecommute.com/ Screw The Commute Podcast App - https://screwthecommute.com/app/ College Ripoff Quiz - https://imtcva.org/quiz Know a young person for our Youth Episode Series? Send an email to Tom! - orders@antion.com Have a Roku box? Find Tom's Public Speaking Channel there! - https://channelstore.roku.com/details/267358/the-public-speaking-channel How To Automate Your Business - https://screwthecommute.com/automatefree/ Internet Marketing Retreat and Joint Venture Program - https://greatinternetmarketingtraining.com/ KickStartCart - http://www.kickstartcart.com/ Copywriting901 - https://copywriting901.com/ Disabilities Page - https://imtcva.org/disabilities/ Michael's website - https://www.techprounicorn.com/ Email Tom: Tom@ScrewTheCommute.com Internet Marketing Training Center - https://imtcva.org/ Related Episodes Debbie Drum - https://screwthecommute.com/547/ More Entrepreneurial Resources for Home Based Business, Lifestyle Business, Passive Income, Professional Speaking and Online Business I discovered a great new headline / subject line / subheading generator that will actually analyze which headlines and subject lines are best for your market. I negotiated a deal with the developer of this revolutionary and inexpensive software. Oh, and it's good on Mac and PC. Go here: http://jvz1.com/c/41743/183906 The Wordpress Ecourse. Learn how to Make World Class Websites for $20 or less. https://screwthecommute.com/wordpressecourse/ Join our Private Facebook Group! One week trial for only a buck and then $37 a month, or save a ton with one payment of $297 for a year. Click the image to see all the details and sign up or go to https://www.greatinternetmarketing.com/screwthecommute/ After you sign up, check your email for instructions on getting in the group.

Ja auch wir reden natürlich über die neue Realserie bei Disney Plus. Und zwar, wie es sich die letzten Male bei The Mandalorian bewährt hat, direkt über mehrere Folgen am Stück. Passenderweise scheint auch eine gewisse Vergangenheitshandlung mit der vierten Folge von The Book of Boba Fett zu enden, weshalb wir den Podcast gut anhand der beiden Ebenen anstelle der Folgen aufteilen konnten. Zusammen diskutieren Janina, Lukas und Tobias über die Aufnahme Bobas bei den Tusken, langsame Verfolgungsjagden und die lang ersehnte Rache an einem Tentakelmonster. Außerdem blicken wir nach dem bedeutungsschwangerem Ende von Kapitel 4 gespannt auf die Fortsetzung und spekulieren, was in den kommenden drei Folgen noch alles auf uns zukommen wird. Zeitmarken 00:00:00 - Begrüßung00:00:36 - Erwartungen und allgemeines Fazit00:05:12 - Erinnerungen oder Gegenwart?00:07:20 - Auferstanden aus dem Sarlacc (Die Erinnerungen)00:42:36 - "No one respects you" (Die Gegenwart)01:19:12 - I understood this reference! 01:30:52 - Zwischenfazit Die Rezensionen Lukas und Tom-Michael rezensieren die Folgen abwechselnd auf unserem Blog. Weshalb die Serie bei ihnen einen eher schweren Start hatte und vor allem dann überzeugt, wenn man sich mehr Zeit für die Erzählung nimmt, könnt ihr in ihren Rezensionen nachlesen. Eine Übersicht findet ihr hier über unsere Datenbank. Den JediCast abonnieren Wir sind auf allen gängigen Podcast-Plattformen vertreten! Abonniert uns also gerne auf Spotify, Apple Podcasts, Google Podcasts (etc.), oder fügt bequem unsere Feeds in euren präferierten Podcast-Player ein. Alle Links dazu findet ihr oben unter dem Player verlinkt sowie auch jederzeit unter dem Audioplayer in der rechten Sidebar. Sollte eurer Meinung nach noch ein wichtiger Anbieter fehlen, teilt uns das gerne in den Kommentaren oder per Mail an podcast@jedi-bibliothek.de mit!

Tom Michael shares with us his true story. Visit our podcast website to learn more about this ministry, unshackledpodcast.org.

EIUPanthers Podcast returns this week for our second season as we debut with episode 50 in our series.   We kickoff year two with a conversation with Eastern Illinois Athletic Director Tom Michael.  Michael is entering his 8th year at the helm in Charleston having recently guided the Panthers athletic department through a year impacted by COVID-19.  On today's episode we talk about that experience, his experiences as a student-athlete at Illinois and how he got started on his path in athletic administration.  

EIUPanthers Podcast returns this week for our second season as we debut with episode 50 in our series.   We kickoff year two with a conversation with Eastern Illinois Athletic Director Tom Michael.  Michael is entering his 8th year at the helm in Charleston having recently guided the Panthers athletic department through a year impacted by COVID-19.  On today's episode we talk about that experience, his experiences as a student-athlete at Illinois and how he got started on his path in athletic administration.  

Mindy Jensen from BiggerPockets joins us to share personal finance and self-management tips, strategy considerations, side hustle ideas, and what it is like to be a female investor in a historically male-dominated industry.    --- Transcript Michael: Hey everyone. Welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by my co host,   Tom: Tom Schneider.   Michael: Mindy Jensen from BiggerPockets is joining us today. And she's going to be talking to us today about some personal finance tips for those of us who are just getting started, as well as what is it like to be a female investor in this space, and some tips and tricks and takeaways for all of our listeners. So let's jump into it.   So Mindy Jensen, thank you so much for taking the time to hang out with us today. I was telling you before we start recording, I am a total fanboy. I'm all giggly today. So thank you, again, for hanging out with us.   Mindy: Well, thank you for having me. I love talking about real estate.   Michael: Awesome. Well, you are in the perfect place to do so. So I know all about you, because I'm a big fan of your podcast, the BiggerPockets Money Podcast that you and Scott host. But for all of our listeners that might not be familiar with you can you give us a little bit of background on kind of who you are, where you're from, and then how you got your start with real estate?   Mindy I was born in a small town in Southern Illinois. And then I moved and moved and moved and moved and moved and moved and moved and moved. And I'm in my 28th or 29th house now, which is actually really relevant to the story. It sounds like a boring, I was born in a small town. And I have never lived in a house for more than six years in my whole life. And I just sold that house that I lived in for six years in January. So it's been like, we move all the time.   And that is really key to my preferred method of investing in real estate, which is called the live & flip, you buy a very unattractive house, you move into it as your primary residence, you fix it up while you're living there. If you live there for at least two years as your primary residence, it is tax free growth, when you sell it, you pay no taxes up to $250,000. If you're single, and up to $500,000, if you're married, I now have a new goal to actually pay capital gains taxes on my flip, I want to get to the point where I have to pay because I've made so much money, which is a very real possibility given our current market, the fact that I got this for a steel and a half, and we're doing a lot of work to it.   But in general, I live in flip. I love real estate. I love talking about real estate. And yeah, I'm a mom of two girls and I live in Colorado.   Tom: Awesome. I love the live in flip strategy. I think I would like you know, with these types of strategies, you know, you have to be very much on the same page as your partner so and I don't think it would fly as much but I'm curious in you know doing this strategy like how big of a renovation Have you done with a live in flip flip Have you done like, you know, like basically camping in in in studs, the ground? Or do you like have some sort of limitation on how big of a project it is?   Mindy: I have limitations now sold this is it's actually a really, really great example of like how big you can go, I have popped the top twice on houses. That means adding a second story, I will never do that again. Because I'm too old for that garbage. It is a lot of work. And when we were popping the top on our most recent house, my youngest was three years old, my oldest was six years old. We at one point had the washer and dryer in the kitchen with holes dug into the kitchen tile floor, which was gross anyway, we're gonna change it anyway.   We we drilled holes in the floor so we could put the out pipes and the water supply pipes into the crawlspace. And the rest of the house was walled off, or it was plastic tarped off because we were building the the addition and the second story.   So in the cold of Colorado, that's really not fun. And we were sleeping in a bedroom with our two children. And my father in law was sleeping in the other bedroom because he's an electrician, and he was helping us rewire the house. We took it from 60 amp service to 200 amp service and basically just rewired the whole thing. When you take it to the studs you can do that. So it was a big undertaking. We there's not a wall in that house that we didn't touch. But why would somebody choose to do this?   Well, I bought it for $176,000 I sold it for $598,000 and I put about $100,000 into it so you do it for the money.   Michael: Wow.   Tom: That's incredible. And the two years so the the tax.   Mindy: This match tax. I guess one more? Yeah, zero. It's incredible. My other specific to the live in strategy, or do you think back on some of the houses on the ones that got away like Oh man, I wish I was still in that? Or is the upside of kind of going through the process and getting those rewards does that, you know, just kind of smooth it over. You're like okay, I'm excited to be on the next one, you know, or do you ever like kind of fall in love I guess and you know, what's the name of the show? Love it or list it you know?   Mindy: Oh Always list it, always list it. And this is actually so I am a real estate agent. And I don't understand the concept of falling in love with the house. There's what is there like 40 million houses in America or something that houses in America, there isn't just one perfect house for you.   Michael: Yeah, totally legit.   Mindy: There's not just one perfect house, there's always going to be another house, that's going to be great for you. So I have never fallen in love with a house. We did have one house that we brought our two children home from the hospital and after they were born, that's really sweet. But the taxes on that house when I sold it for $17,000 a year. Oh, Wisconsin, super high tax bracket. So that I don't miss that at all. I mean, my, my current mortgage payment was my monthly tax only payment on that house. That's ridiculous.   Michael: That's crazy. I think that the saying goes the deal of a lifetime only comes around about once a week. So there I couldn't agree with you more Mindy.   Mindy: You know what the house that I just told I pointed to where it is, it's it's on the other side of town, that house that I just sold was the deal of a lifetime, but the one I'm sitting in now is going to be even more the deal of the lifetime. So yeah, you can find a good deal anywhere.   Michael: So I really want to dig in to two specific topics with you today, because I know that you're an expert in both. One, I would love to get some personal finance tips from you, for folks that are just starting their real estate investing journey I live in flip could absolutely be one of them. And then I also want to talk to you about what it's like being a female investor in the space. And I know that you've got experience again in both those areas. So if I am just starting out, and…   Mindy: I do I have like a lifelong experience, lifelong experience as a woman. So just starting out in real estate, buy low and sell high is kind of the the Pat answer. But really, if you are looking to get started investing in real estate, you need to be educated, you need to know what it is that you're going to do with your investment.   And it seems so easy to be a landlord. But there's a lot of things that you need to know if you want to be a landlord. And if you don't know those things, you are going to mess up and you are going to lose money. And you are going to, in some cases hate your life. I know when you don't know that you should screen a tenant. And you don't know that a 400 credit score is not indicative of a person who is going to be paying you on time every month, you might rent out to somebody who has a 400 credit score, you didn't know because you didn't even run it and you let them move into your house. And they trashed it because they are bad tenants. And you didn't know that because you didn't call it their past landlords and you know, their kids wreck the house and you didn't know they had kids because you didn't screen them.   There's, there's a lot of things and not that you shouldn't rent to people who don't have kids. I'm not advocating against fair housing laws, you need to know who's living in the house. And when you rent it to Michael and Michael doesn't have doesn't say, hey, I've got 17 kids, you know, you come into occupancy, you had a bit against occupancy issues. And you know, or Michael brings his brother Tom, and Tom brings his friend Joe, and then there's 76 people living in your house and you're like, wait, why is it trashed?   I'm not surprised at all. So, if you want to invest in any type of asset class, you need to do your research and if you cannot explain how you are going to invest and and how somebody should be investing in that particular asset class, you should not be investing in that asset class. I'm not in but Bitcoin. I'm not in crypto because I don't understand it. And this is not an invitation to send me an email to explain it to me. I don't want to know.   Tom: Michael's a big, big ferret guy, I wouldn't rent to him because, like,   Michael: Tom!   Tom: It's cute, he's taught them to do these tricks that he showed us, but big…   Michael: Tom, time out. It's chinchillas.   Tom: I think we segued…  Michael, I think we're okay. Chinchillas apologies.   Mindy: I'm gonna jump in here and say, OMG , I would never read to somebody who had ferrets because ferrets stink.   Tom: Michael apparently likes it. Sorry chinchillas.   But okay, getting back on the rails. Mindy, you know what I love my like takeaway from what you're talking about is just having your eyes wide open of like going into risk. I think like with any type of investment that you're doing it be it crypto real estate. Successful investors, they are cognizant and intentional about the risks that they're taking, be it who you're renting to be it the property condition and like what your capacity is, so just love that as like a takeaway on this episode of of intention with risk and eyes wide open in education and filling that gap.   Mindy: Well, that was a better way to say it.   Michael: No I prefer the 76 circus family.   Mindy, a question for you kind of in that same vein. And so we have the education side of things at the Rootstock Academy and I love that you brought up education totally unprompted. I just want everybody to know that we didn't prompt Mindy with that. But how do you draw the line between getting educated, and knowing when enough is enough to then jump in or dip your toes because I know that's something that I struggled with, I spent about two years self educating before ever doing a real estate deal. And even I'm still learning and I was 10 years ago, I'm still learning every single day. So how do you feel like you're you have enough to be dangerous to then go do something with without getting analysis paralysis?   Mindy: Well, started young is really great. Because when you start young, you feel like you know everything, and you don't feel like you need to do all the research. And that's how I got started. I just knew everything when I was 26 years old.   I do like that you said, you know, analysis paralysis. And at one point, do you do you stop educating? You need to be able to understand what you're doing? Hey, how do you invest in real estate? How do you rent out your house? Oh, you know, you just put it on Craigslist.   That's not enough information. You need to learn how you rent out a house. How do you screen a tenant? How do you buy a house? How do you collect rent, like there's a lot of things that you need to think about? Before you just buy a house and throw some people in it. You're providing housing for somebody, you're giving somebody a place to live, you need to know that it's a safe place to live. It's a habitable place to live. And you need to know that they're going to pay you rent.   I mean, once you can start explaining it to other people, I think you've done enough research. You'll always continue to learn, you will always continue to refine and hone in Hey, it turns out I don't want to rent to Mike that has 17 chinchillas. I want to read to Tom who has four little dogs because I know that big dogs cause disasters or I'm not going to rent to Tom anymore because his cats poo. That was not a pleasant experience.   And you know, you will always,  you will always continue to learn. Yeah, that's sometimes cat spray. But being involved in a community that continues to help each other out, is really the best way to go about it. I mean, BiggerPockets is a community of real estate investors helping other real estate investors learn how to do it explaining from experience that, you know, renting out to the chinchilla farm isn't the best choice. Or, you know, renting out to 17 guys who just turned 18 years old in your four bedroom house is probably not going to have the best results.   Yeah, and you're not discriminating, you're just being smart about your your applicants. But even how you find applicants is going to be something that you learn through asking other people.   Tom: Like synthesizing along with the education piece is like community is like such a huge piece about, you know, a really important aspect and feeling comfortable to make that jump, I think and Michael was was talking about just because investing in real estate can be difficult, right? You're right, you know, pop in the top and in Colorado in the winter, you know, having that community of people to one from the education standpoint, but to just as the either, you know, feedback loop or helping, you know, continuing to move forward. Kind of the combination of the two are is really important. And yeah, love BiggerPockets. This is a fantastic spot of that community aspect.   Mindy: Yeah, it's my favorite website on the whole planet.   Michael: I love that. You mentioned the community aspect of things. Because I think so many investors, especially those who are just starting out think that going from due diligence to then you're the first acquisition is that's it, I bought the property now I'm done. It's like, Well, no, now the work actually starts now you own the property. Now you really need that support for the ongoing stuff, not just from the due diligence acquisition.   Mindy: Yes, and this support is really important because sometimes there's not really much you can do. But having somebody to commiserate with is really helpful. But as you're in there talking to other investors, you pick up little tips. One of the best tips I ever picked up for screening tenants is to after they have seen your home, you walk them to their car, you just walk them out and you know, chat, whatever. But while you're at their car, you give it a little peek. Oh, look at that. I can't even see anything in there because there's garbage and wrappers up to the tops of the windows.   You don't want to rent to that person because they how they keep your their cars, how they're going to keep your house and you don't want to go into a completely trashed house. unless that's your thing.   Michael: And teach the road, no judgment, no judgment. I've heard of another similar tip of doing a FaceTime interview with prospective tenants and having them give you a tour around their current living situation.   Mindy: That's another really great tip, because then they're not really expecting to do a tour so you can see how they truly live. And this isn't to discriminate against people who might be slightly untidy, this is to prevent people who will not treat your property with respect from moving it.   Tom: Canary in the coal mine. One thing I love about these episodes is they're there, they can be very self serving. So I have a very self serving question for you. And this is, I guess, for broader people, or as well, if let's say I'm saving up for downpayment on the next acquisition to buy an investment property. What are your thoughts around like, where to hold that money? You know, or I'm going through a cash out refi and going to have a big chunk of change coming in them and to be using for these acquisitions? What do you think about holding it in a cash cash position versus putting it into an ETF or a CD? Or I'd love to hear your your thoughts on that. I mean, a lot, a lot, a lot there.   Mindy: A lot there. But it comes down to what is your risk tolerance, if you have just happen to have a big chunk of change from a cash out refi and you're looking for a property? How comfortable are you with that dollar amount dropping in value. So if you can't, if you need the $20,000 for your down payment, and you don't have a way to replenish that $20,000 easily, I wouldn't put it into an ETF, I wouldn't put it into the stock market at all, I would put it into a high yield savings account, which is only in air quotes, because they're currently at like point 5% or something.   You could maybe put it into bonds, I wouldn't bother with that. If it was not going to be a super long term play like two or three years. If you're going to get it in like three or four months, I would just put it in the cash account, your job is not to grow that, you aren't going to grow that in any significant way. You're not going to put it I mean, you could put it in Bitcoin and watch it go up super a lot. But did you see what happened with Bitcoin? This week? Wasn't it like? Didn't it drop like $30,000? or something? I don't I don't invest in bitcoins.   Tom: Crushed. Yeah, so I just put a very little amount and I've and I've lost, I've lost half of a very little amount.   Mindy: So how would you feel about your $20,000 that you put in Bitcoin because it's a sure thing, and then all of a sudden, now it's $10,000. And you're like, Oh, my money's gone. I don't like to lose $1. So I don't like to be really in really volatile things. I'm mostly in index funds, I have a few tech stocks, and you know, real estate, but I wouldn't put it into anything that that is volatile when you're looking to use it within the next two or three years. And even then, with two or three years, I'd be in like bonds, which are fairly safe, they're not even really growing that much. Your job is to protect the money.   Michael: That makes total sense. I guess that's a really great point in talking about like, your job is to protect that money and to go make that investment in the real estate. And don't worry about everything else. That's just noise if you're trying to grow it and grow it, but focus on the task at hand Don't get distracted. So no more Dogecoin betting Tom, enough is enough.   Tom: I know. And also just a point I want to clarify. Michael is not a ferret guy. I was being silly. Yeah, yeah. The guy didn't realize he clarify.   Michael: Yeah.   So Mindy, you've got some really great insight into a lot of folks his financial purview, I'll call it and so in terms of side hustles, when people are just starting out or looking to grow some additional cash positions to invest in real estate, what have you seen be really effective in terms of side hustles?   Mindy: There is this thing called a signing agent. And it is more towards the west coast of the country than the East Coast. It's four not attorney closing states but title company closing states and notary closing states, you are essentially walking somebody through the closing process and watching them as they sign their name on all the mortgage documents and all the closing papers.   And this is an amazing side hustle because you get to if you have attention to detail, and if you don't, don't even bother, but you get to read mortgage documents over and over and over and over. Again, you're reading the contracts, you're seeing all these things, it's a great way to learn about the process in general. And you make 150 $200 a closing, a closing takes what an hour, you can do those all throughout the day, if you have time during the day, when people are working is not when they need you, it's when people are off work. So nights and weekends.   If you're willing to work nights and weekends, you could make a good chunk of change. I've seen people making, you know, $2,000 a month, just on this little side hustle, and they're not even really spending that much time on it. The cost. The barrier to entry on this is a box of black ballpoint pens, a box of blue ballpoint pens, and a really good printer. And I think it has to be a laser jet, not an inkjet.   It's like a less than $1,000. And you have to be a notary. So you have to go through your state's notary process. I'm not one. So I don't know. I don't know all the process about it. But we talked to a guy who runs a school that that teaches people how to do this and teaches them how to get the jobs to be signing agents. And if you're really good, if you don't make mistakes, people will continue to request you because you're really good.   Tom: Gosh, I love that tip. I feel like I've seen so many like clickbait articles of like passive income. And this is like the one of the best ones I've ever, I've ever heard. I looked into the notary getting that I have a competition with a friend on who can get the most certifications. And this is one and it's not that I think it's like in the state of California where I live, it's like an afternoon of work. Or it's like a certain number of hours. And there might be a test and there's like a low oil, loyalty oath or something like that. So Mindy that's fantastic example of a great side hustle.   Mindy: I got another one. Let's hear it. Yeah. Okay, another attention to detail. I am a real estate agent, I also have a full time job. So I do not have time to double check and triple check all the things in my contract. After we're, you know, I write up the contract for my clients, we get under contract. There's a lot of dates and deadlines, a lot of dates and deadlines. I would just be crushed if I ever allowed my client to miss a date or deadline. And yes, the buyer should be aware of all the dates and deadlines, they should have that upfront. So they're not missing it either.   But I pay somebody who is called a transaction coordinator, I pay her to help me. Remember all the deadlines helped me keep all the deadlines helped me. She files my paperwork with my company so that I get paid, she submits it to the title company. So I get the check at closing. It's called the transaction coordinator, I pay her $400 per transaction. I did 15 transactions last year. And I'm not a busy agent. So you get in with a busy agent who's doing 40-50 transactions a year, you can make some big money.   And it's like an hour of work. It's probably not an hour of work. Maybe she spends, I don't know, five or six hours on my entire transaction from start to finish. She's got it down. I sent her the information. I introduce her to the clients, and then she just sends us an email. Hey, just reminder. I mean, I'm helping people buy $500,000 houses. I'm not going to let you miss a deadline. I would much rather pay $400 to somebody who double checks that I'm not missing deadlines.   Michael: That's such a good tip.   Tom: How would you market yourself as a transaction coordinator in like getting that type of business? I'd love it. Yeah. Just reaching out to agents?   Mindy: Yeah, I would absolutely reach out to agents go to every agency in the city and just say, Hey, I'm an agent, or I'm a transaction coordinator. I'll do your first transaction for free. This is how much I charge. This is how great I am I you know, I set it all up. I do all these things, whatever. It's not that hard. I want somebody as a backup because I am really good. But if I missed the deadline, I would just feel terrible forever. So I want somebody to help me do all the things. Yeah, if you want to go to like literally every agent, if you have one agent client, you will get a lot more because I'm going to tell everybody that I know how great Lacey is. Lacey is great.   Tom: Shout out Lacey.   Michael: That's fantastic. I love that. I love that tip. Because again, that's one of the things that's like in the real estate ecosystem. So you're getting exposed to the to the market to the industry, and you're making money. I think that's awesome.   Mindy: You're learning contracts, you're learning lenders, you're talking to home inspectors and title companies and you're really touching every part of a transaction. She's involved in every part of the transaction, and she sees all the things. So she actually did used to be an agent and said that she prefers transaction coordination.   Michael: So in flipping the narrative a little bit, so that those are some great side hustles that folks can do to help generate some additional cash for their savings for down payments or for investing. What are some of the pitfalls or traps that you've seen new investors fall into?   Mindy: Not being well capitalized, when you buy a house, something will break, I guarantee you, there are very few guarantees in life, it is a guarantee that when you buy a house, something will break, the cost of that repair is inversely proportionate to how much money you have in your reserve fund. If you are very well funded, you get like a broken light switch cover or something. But if you don't have a lot of money, all of a sudden your AC goes out, and it's 105 degrees outside, or it's 30 Below and the furnace breaks.   Something will break. And if you don't have money to pay for it, you shouldn't be buying a house.   Tom: Do you have a rule of thumb on reserves?   Mindy: I really like $10,000, To start off with, like per property rather than?   Michael: 1 million dollars.   Mindy: 1 million dollars. Yes per property. And that is, it's you know, it's a rule of thumb where rules of thumb are like give or take, I have a good paying job, and very low expenses, so I can cash flow, anything that comes my way, I don't have any reserve fund. But I also am able, you know, I have a great line of credit, I can just, if I need a roof, and for some reason my insurance company isn't going to pay for it, I can go and find the $15,000 to put a roof on my house, if you don't have any money in your reserves, you're going to really be hurting and you have to have a roof and you can't not have a roof.   $10,000 is a good place to start. And then I would continue to add to it at a rate of approximately 1% of the purchase price of the house per year. Once you get to like $20,000 I'm trying to think what would cost more than $20,000 to repair on a house right now. And you know, prices have gone through the roof with COVID. And all of the crazy supply issues that that we're having right now. So maybe $20,000 is going to be a better bet. But you know, if you're replacing stuff, it's probably not going to all break at once. And it's probably not going to cost you more than $20,000.   And yes, that is per property until you get to a certain point, like if you have four properties that are in relatively good condition. Oh, condition is another thing. Like if you have a brand new build, you probably don't need $10,000 in your reserve fund. But if you have, you know, a 1950s build, you should probably go $20,000 in your reserve fund unless it was just all you know, remodeled and everything's brand new.   Tom: Yeah, one thing I love about that response in it as well as is there's you know, it's it's dynamic, right? If it's a newer house, or if you have a big line of credit, like it's not real estate and all this it's not one size fits all, there's, you know, strategic considerations on where you're at and, and the property, all of that good stuff.   Mindy: Yeah. And it comes down to like, what kind of financial position Are you personally in? If you're well funded personally, you'll be probably okay. But you know, with COVID when they did them, eviction moratoriums that people stop paying rent, there were owners of four plexes and eight plexes that had 90% of their tenants not paying rent, I guess that doesn't work in a four Plex that would be 75% of their tenants not paying rent, how are you going to pay the mortgage on your house if your tenants aren't paying your rent? And if you don't have six months of all the payments in an account, you need to be getting six months of all the payments? I mean, how long has the eviction moratorium been going on? Like 10 months or something? And it's supposed to schedule through like, is it September? That's the student loan one. Maybe it's the end of June or July? I don't know…   Michael: I think it is September?   Mindy: Yeah, it's fluid with all the different states. But it's, that's a significant amount of time that your tenants may not be paying rent.   Michael: Yeah, that's a great point.   Tom: You touched on an item that I think is super relevant to current conditions, talking about price of materials talking about, you know, just kind of a dynamic market. I'd love to hear has your strategy evolved at all like with the cost of materials going crazy and with like appreciation going nuts on these houses? Or you know, is it as had been pretty consistent through the different market changes that we're seeing?   Mindy: COVID changed my strategy in that we were going to turn our former primary residence into an Airbnb. And when that got shut down, we decided we would rent it out long term. And after we saw all the appreciation going on, we said you know what, I don't really have time right now to go and run an Airbnb. I'm really, really a control freak. So I'm not going to pass that off to somebody else. Let's just sell it be done with the house and move on.   We were incredibly fortunate. We bought all the supplies for many of the projects around the house right before COVID hit. So all the wooden studs for the basement we bought at 2019 prices, not 2021 prices, which is four times as expensive. We've did a whole a big deck edition. And we bought those. They arrived on March, I think March 9, all that stuff arrived. So we like right before they shut down the entire country. We bought all these all of our supplies.   We're building a shed, and my neighbor is doing a renovation, and it's throwing away studs from the 60s. Why would you do that? So I'm going through the dumpster and I'm grabbing those studs, and I'm putting them in my garage. And now I have a new goal. I'm going to scavenge all of the supplies for my shed. And my neighbor's fence got knocked over with the snowplow. So they're building him a new fence. And we're the weirdos that are always working on our house. So he asked us if we wanted his his old fencing materials and his old cedar two by fours and his old cedar four by fours like, Yeah, I do. Because even if I can't use them in the house, I can, you know, he's like, I just don't want them to get thrown away, like I can put them to use.   Tom: What a win win that's brilliant.   Mindy: But I'm not planning any more big projects right now because it's so expensive. And I mean, you can't even go into the store and find two by fours sometimes and plywood. And it's we're doing a lot of painting now, instead of building. And I'm not sure when we're going to change back to building.   Michael: Smart.   Tom: Writing the plan in pencil. That's awesome. I love that that response is cool, because there's like multiple zigs and zags just based on what's what's going on.   Mindy: But if you're not dumpster diving, you need to start it's like construction dumpster diving, don't go to the back of like Whole Foods or something but or maybe. I mean, they throw away a lot of good stuff too. But if you're walking around your neighborhood, and you notice that your neighbor is doing some work peek inside, if you can skip buying 52 by fours because your neighbor just threw a bunch away. That's just that's just smart.   Plus, they're from the 60s so they're straight. I mean, they were sitting outside on the deck and it got wet. And then they still didn't bend and now you get a two by four and it bends before you can get it home. Sorry, I digress.   Michael: You look at it wrong. And it's a warped. Yeah. I was gonna say Tom and I were chatting the other day, and I'm doing a massive redevelopment project. And that budget has just got eviscerated because of the wood prices and other materials. And it's just it sucks. Like, I'm in the middle of it. And there's no way around it.   Mindy: Yeah, I have seen new builds where the buyer put the deposit down and sign the contract. And okay, we're going to start building in March, April. And the builder comes back and says, Okay, now it's going to cost $30,000 more, because wood went up so much. And if you don't want to pay that we understand, we'll refund your money. I've got a line of people waiting to buy this house at the $30,000 additional price.   So what do you do? Do you say yes? Or do you get your money back? I mean, the next house isn't going to be any cheaper.   Tom: It's all just rising so quickly related on the materials costs. I had some read to replace a deck in my house, and we ended up using this bamboo composite and it actually turned out really great. I was a little concerned but our contractor said he had used it on a couple of projects, so shout out bamboo composite decking.   Mindy: Oh, I haven't heard of that before.   Tom: Yeah, it's I think Momo MooMoo booboo, I forgot the name of the exact the name of it. Mozu it might be. But anyways, waterproofs, warranty, all that good stuff. This episode is not brought to you by but we're going to market it anyway.   Michael: Let's shift gears here, Mindy. And I would love to chat with you and get your thoughts, insights, opinions on being a female investor. And what that's like, in what seems to be often a male co opted space.   Mindy: Yeah. So it makes it really easy to that people. It's really easy to decide who I want to work with and who I doubt and it's based on how they treat me. I am not necessarily the only woman in the room, but I'm frequently one of just a couple. And if you you know when you're dealing with contractors, if you call me honey, I'm not working with you, sweetie, baby. Tell me what you need. Tell me what color you want. I don't have a lot of self esteem issues. So if you don't want to work with me, because I'm a woman, I don't care.   I know a lot of people who will work with me because they have this is 2021 Why is that even an issue? But it can be an issue for, you know, for people who aren't as obnoxious as I am. But I want to invest in real estate. So I'm going to and if you don't, if you don't want to deal with me, that's okay, I'll find somebody else who will.   But what is it? Like? It's gotten a lot better. I think that there is a lot more understanding that women are investors. I mean, we're just investing we're not I don't have to lift up the house, I don't have to, you know, use my muscles to do things. So it's like, there shouldn't be any difference. But there are, and I got big muscles. So yeah, it used to be a lot different. But now it's changing.   Tom: I guess, one kind of follow up. Final question related to that. Do you have any advice or recommendation for female listeners who want to become active involved in their area?   Mindy: I am going to go back to the advice that I gave in the beginning and educate yourself. When you come in knowing what you're talking about. People will listen. And the you know, it's okay to ask questions, but ask them in an intelligent manner. And do research in advance to see if you can answer your own question. But there's, you know, there's a lot of nuances in real estate, you can absolutely ask questions based on the nuance.   But hey, how do I get started? Is not the best question to answer to ask, what are the benefits of this strategy versus that strategy is a better way to go? doing a little bit of research, you know, understanding that there are differences and doing a little bit of work on the front end will get you better answers and more people who are willing to talk to you.   But there's a lot of self education, you can do YouTube channels, podcasts, books, blog posts, people are talking about real estate investing right now. And it's like the cool thing to do. And if you want to be a real estate investor, why do you want to be a real estate investor? What do you hope to get out of it? You know, ask yourself all of those questions, and then just jump in.   Tom: Love it. Michael, do you have any other questions? Or is it a good time to jump into some quickfire questions that we have?   Michael: No, Let's jump right in the quickfire? That sounds great. Perfect. All right. All right, Monday, so I'm gonna ask you a series of 10 questions. These are either or questions. Just kind of like a quick, quick response. Are you ready for some quickfire questions?   Mindy: Hit me.   Tom: All right. Consolidation or diversification?   Mindy: Oh, diversification.   Tom: High property taxes, or high income taxes?   Mindy: Oh, I don't like either of those. Um, I would say high income taxes, because there are ways to shield the income taxes. And there are ways to reduce your taxable income, whereas they're your property taxes, just your property tax.   Tom: I was going to let you get away with neither are you going but your answer ended up being much more interesting. Good one. I like that. All right.   High rent growth or low vacancy.   Mindy; Ooh. Oh, right. Yeah. turnovers their profit killers. So yeah, low vacancy, I guess. No, I like these questions.   Tom: I know. That's what that's why they that's what they call it the hot seat. All right. Next one. Cash Flow or appreciation?   Mindy: Cash Flow always because you cannot predict appreciation unless it's forced appreciation. I like forced appreciation more than cash flow. But you didn't say force you just said regular.   Tom: Yeah, I think you could take any flavor of that.   Mindy: Oh, then forced appreciation.   Tom: Excellent. Debt or equity?   Mindy: Equity.  No, well, no debt or equity?.... debt right now because it's so cheap. Yeah.   Tom: Yeah. I love it. Love it. Love it. All right. Next one single family or multifamily?   Mindy: I've always done single family, but I see the appeal of multifamily.   Michael: Alright. Alright, so, right.   Tom: All right. Yeah. local or remote investing?   Mindy: Ooh, I prefer local but I've done both. I just like to be there.   Tom: I think I know the answer to this next question, turnkey or massive project?   Mindy: Massive project.   Tom: All right, final three questions we're going to these are a little bit outside of the real estate box.   The midnight oil or the early bird worm?   Mindy: Oh, early bird worm. I go to bed super early but I get up early to early bird.   Tom: Early bird worm, me too. Alright. text message or email?   Mindy: Oh, email because it's illegal method of notification and text message is not.   Tom: Good. And the final question here, all of your answers are like really thoughtful like good, really great responses we've had like, I've learned I usually it's like I'm not learning things on these hot seat but like this. Alright, mini the final one. Olive oil or butter?   Mindy: Oh, wow, it depends on if you're doing high heat cooking. Butter will burn olive oil is a high heat oil. If I'm putting it on a muffin, it's butter.   Tom: Alright, butter. Butter. It is Yeah. You not only survived the hot seat, you thrived. That was fantastic.   Michael: I'm just picturing an olive oil soaked muffin.   Tom: Dude, olive oil cake. It's a thing. It's a thing.   Mindy: Oh, really? Yeah, I made brownies. Once I made it. I didn't have any oil. So I use olive oil and it did not taste good. I mean, they were brownies. They were still okay, but you could taste the olive oil with Yeah, that's really good to know.   Tom: Thank you so much Mindy for coming on. I love these. I love these episodes, because it's kind of self serving and just learning a ton. Really appreciate your time coming on.   Mindy: Well, thank you for having me. This is super fun. I like that hot seat. Actually. I just didn't like that one question.   Tom: That was the best Hot Seat I think we've we've had like over 100 episodes and…   Mindy: Oh, I was gonna say what is this episode two?   Michael: That's great. No, that that was that was by far the best one. Really? Thank you so much for taking the time for hanging out with us and helping educate. This was great.   Alright, everybody, that was our episode a big big, big thank you to Mindy. That was a lot of fun bar none best quickfire answers we've heard on the show to date. So for all of our future guests, that's a challenge to you to top Mindy's answers.   Hope you enjoyed the episode today. If you would like please feel free to give us a rating review wherever it is. Listen your podcast. If you're checking this out on YouTube, please feel free to subscribe to the channel so you get all the most up to date episodes as they come out.   Again, thanks for listening and happy investing.   Tom; Happy investing

Sometimes closing on a deal is not so straightforward. Michael shares a nightmare closing scenario and we discuss how to mitigate struggles like these to stay on schedule, saving time and money. --- Transcript   Emil: Everyone, welcome back for another weekend wisdom edition of the remote real estate investor. My name is Emil Shour. And today I've got with me,   Tom: Tom Schneider,   Michael: and Michael Albaum.   Emil: And we're going to be talking about what happens when your closing goes sideways. So Michael recently had a refi on a triplex he owns and had some some challenges arise. And we're gonna just put them in the hot seat, learn what happened and learn how he deals with it. So you guys can get some tips and takeaways in case this ever happens to you down the road. So let's hop into this one.   Alright, Michael said, set the stage for us. What what happened on this refi on your triplex.   Michael: All right. Step back in time with me to December of 2020. So that's what I started this whole process. And my wife actually found this awesome lender out in the Midwest, they could land on this property that I owned inside of an LLC. And I was like, great, this is awesome. So we got the ball rolling. He got a couple different quotes. For me. He was a mortgage broker. That's what he did he so he wasn't the lender specifically. So he found a lender that was going to work. We said, Great, we got the ball rolling, we got the application process started.   And then they said, Oh, you're doing some rehab work. So they went out for the appraisal, that's when they learned learned, quote, unquote, about the rehab work. And I was like, I told you about the rehab work. And they said, Oh, well, we can't we have to go back and do another appraisal once the work is done. So keep us posted. I'm like, oh my god. So that slowed things down to start, then we were supposed to close. And they said, Oh, you filled out some paperwork wrong. Yeah.   Tom: Did you get charged for like a chip chart trip charge for the appraisal? appraisal.   Michael: So I got a second charge for the appraisal, which they didn't tell me about until the closing statement showed it. It was only a couple 100 bucks. But I was I was still a bit frustrated, because they didn't like tell me that. And I should have assumed like, of course somebody has to travel to go do these things. But also at the same time, it seems a bit frustrating that they said oh, here's the price for the appraisal when they quoted it to me. And then the final amount being taken out at the closing is different, because they charged more for the appraisal example back second time, which they should have done because they knew about the construction. So that was a bit frustrating.   Tom: Was the construction like really significant.   Michael: It was a total remodel of a unit of the biggest unit in the in the triplex so fairly.   Tom: King unit.   Michael: Yeah. Yeah. So yeah. So then they tell me Oh, by the way, I know we're pretty close to closing, but you filled out some paperwork wrong. So on my statement of information to the Secretary of State of California, I put that the LLC was member managed. But when I initially filed and made the LLC, I put that it was manager managed. So those two documents didn't align. So they said, Oh, you got it, you got to change this. And I was like, all right. We should we're done about this earlier, but whatever. So I did that and filed an amendment with the Secretary of State, it really wasn't a big deal, like 25 bucks to do to do it all online. Good to go. Great.   So now fast forward, the closing has already been delayed. They finally got through the re inspection of the property, as well. And they say, oh, by the way, this same issue happened in Alaska, where the property is, is physically. So you need to update that as well with the the secretary of state or change the operating agreement. I was like, why didn't you bring this up when you were scanning the documents that you had for California a month ago? Like a So anyway, to file an amendment, the Secretary of State of Alaska was much more difficult. It wasn't able to be that online. It was a whole process. And then I didn't get verification that it was accepted and approved. Until 18 business days later, was there a timeframe?   So I said I can't wait 18 more days to close this thing. What options do we have? And they said, Oh, we can close load in your personal name. So I say Great, let's do that. And they said, Okay, well, now because it's gonna be a person's name, you have to click claim it out of your LLC and into your personal name. I was like, You got to be kidding me. So I quick claiming that out of the LLC into my personal name. And they said, Okay, yeah, now we're clear to close. So they reached out to the title company, and the title company was unresponsive. So then I reached out to the title company, the title, the closer I reached out to their manager, and everybody was giving me the runaround. Oh, we need more documents from the lender, and the lender saying, Oh, we need we gave everything to title. It's in title's hands. So days and days, days, this Thursday went on for like a week of trying to coordinate this thing with the title company.   The person who the lender had on my case on my file was on the East Coast, but the title company was on the west coast. So there was several hour time difference. I mean, it was just like, the amount of people that got added to the emails each day grew exponentially. And I think Like the final set of emails, there were 12 people CCD on this, like it was a joke. Like they just couldn't get it. Right. So the loan finally funded this Monday, this past Monday, yesterday. And on Thursday, I think I got an email saying, Oh, we hope that this is from title, we hope that the lender wires over the money by Monday. And I wrote back and I was like you hope in a nicer house like you hope I was like, stop hoping and get this done? Who need to take responsibility for this? The lender has told me they've already sent you the money, where is it? When or when should I be expecting it? Please do not respond with you hope. I would like a plan of action going forward and someone to take responsibility, and I was nicer about it. But that was the gist of it. And that was the inner dialogue I was having in my in my head.   So somebody wrote back to me, they said, We're so sorry for this confusion. It will be in your account Monday morning. And I say, Great. Thank you for the confirmation. I look forward to seeing my account Monday morning. So Monday morning rolls around, the lender emails me and says, Hey, confirm with us when you receive the funds. I said, Great. No problem. We'll do 10 o'clock rolls around no funds. 12 o'clock rolls around no funds, but as they're…   Emil: Keep hitting refresh.   MIchael: Yeah, refresh. I was like, Hey, you told me is gonna be my account. Monday morning. I know, we're in the same time zone. There's nothing here and there's nothing pending What's going on? And they said, Oh, it should be there. And I said, well, it's not. So there's a lot of money out in cyberspace that you need to figure out where it is, and tell me when I should be expecting it. And they said, Oh, we are our servers have been slow. You know, I did it personally, it should be there.   So then finally, about two o'clock, it shows up. And I say Great. Thanks, everybody. This was ridiculous. So that was a really long winded way of basically going through what was a nightmare close, and a lot of takeaways that I had from this and other closings that have gone semi sideways, as well as that you really have to be your own advocate so much of the time, just because the lender says they're working on it doesn't necessarily mean that they are or just because the title company says they're working on this. I mean, they necessarily are. And so don't assume I feel silly saying this, but like, Don't assume that people are going to do the things they say they do. You really have to follow up with them and really be the driver, and also making sure that everybody's communicating. At no point should I have had to step in to email, both the title company and the lender on an email together and say, hey, why aren't you communicating better? Why am I the intermediary for my own loan? This is ridiculous.   Tom: Michael, not a not a big hope guy just doesn't really believe in hope, it's just kidding. I'm just kidding. That's pretty funny. I hope it funds. Okay. So yeah. Yeah, question for you here. So did you select the title company, or did the lender select the title company? You obviously selected the lender?   Michael: Here's the here's the funny part. So I wanted to use Spruce Title, who we use a lot of Roofstock. And I have a personal relationship with we had them on the podcast. They helped me do some things in Southern California to do a quitclaim deed, which was awesome. And so I said, Hey, Spruce, can you do this? And they said, you know, we really don't do a lot of business in Alaska, we would prefer to have your lender, your lenders title company, do it whoever they use, but when in a pinch, let us know we can we can try to be of some assistance. So I thought that we were lined up. I thought we were using spruce. It wasn't until push came to shove at the end of this when they told me Oh, we're using this other our title company that we use a lot. And now I'm sitting here scratching my head, looking at hindsight, being like, Are you freaking kidding me? This is the company that you chose over mine, are you insane, so it was just really frustrating. It was really frustrating.   And then I also asked him, I was like, both the lender and the title company. So you're really going to charge me full price, you're really going to give me all these fees, and everybody keeps giving me the runaround Oh, well, it's the other company that's causing the delays. So you know, our fees are set. I said, Man, this is just unbelievable. So I don't think I'm done fighting that battle yet. More so over principle than anything else. I mean, the fees were not exorbitant. I think they were, you know, reasonable for what I got. But still to make me have to jump through all these hoops at the 11th hour to make me have to do all the communication and I'm like, Am I doing your job for you at the end of the day? Come on. This is This is ridiculous.   So and then not the lack of response, I think is what really gets my go. It really grinds my gears. When people are asking for things that need to happen in a timely manner and just lack of response and I get people are busy, but some acknowledgement of Hey, we're working on it. I mean, Emil, you and I talked about this all the time you sent me an email, it's crickets. If you can't get to it, just acknowledge that hey, won't get to it'll tomorrow. Or hey, we'll get back to you in a day, whatever. Something to let me know that someone on the other end has put eyes on this or is as has a pulse at least.   Tom: Are there other little tricks you do within your emails when you're responding to them like Hey, are you the right person to contact for this like Basically like having them, like accept ownership of whatever that like specifically. I mean, that's that's brutal Michael, that you had to kind of jump in and quarterback, you know, between these these two companies, but I love it. Do you have any kind of pro tips like on writing these types of emails? I mean, one of them, I would just chime in with, you know, be direct, but don't be a jerk. But is there any other kind of like thoughts you have in being proactive with email, which I think is like the right thing to do? And you can see that it's like, getting a little bit off kilter?   Michael: I think that's a really great tip that you offered almost in your question of Hey, asking, Are you the right person?   Tom: Thanks Michael.   Michael: Yeah, absolutely.   Tom: So I threw it off the backboard and just dunked it.   Michael: We read it the Roofstock Academy book club, a book by Chris Voss called never split the difference. And he talks about if you're not getting responses to emails, a way that you can write in the email is, have you given up trying to assist me in resolving this problem, or something to that effect? It's like, a little harsh, but   Tom: That sounds a little harsh. I like it. I like it.   Michael: It is it is a little bit harsh, but also how many times you're going to bang your head against the wall with somebody who's not responding to your emails, or phone calls, or any kind of other communication? That's kind of the the question that needs to be answered. Hey, are you are you done talking to me? Are we just giving up here? And so I've only done it a couple of times, and it tends to work pretty well. I've been cc on an email where that was sent. And I was like, hey, that seems pretty harsh. Not sure that was appropriate. So I would definitely make sure it's a last ditch effort. And, you know, there are ways to word that in a more light hearted manner. But I think absolutely, oftentimes, it is justified. I didn't come to that at this. But I think that that's a really great tip of Hey, asking, Are you the right person for me to be talking to, and then also see seeing anybody and everybody that can help?   So managers, managers, managers, because so often, if the chain isn't consistent, things get lost in the email thread. And so adding people and subtracting people mid thread is difficult. So I'd say just make sure everybody is on on the train and communication with one another from the start. And that's helpful.   Tom: Yeah, I'd say one thing too, when you're adding, you know, more and more people on email, I think sometimes people could see a lot of people in email and like, think like, Oh, this isn't necessarily me. So like, within the body of the email, you know, if there is a lot of people on it, I'll do an  @ Michael album, like or @ whoever you're talking to, just because sometimes if you you're looking at an email, and there's a dozen people on you'd be like, oh, somebody else is gonna pick this up totally. So you know, use that kind of wider spray, but then use the little, you know, direct shot within the within the body of the email.   Michael: Such a great point, such a great point.   Emil: So to summarize, the big takeaway, I think, here is that the buck stops with you, you kind of have to, like you have to quarterback the whole thing, right? Is that the big takeaway, that you should own the process? As much as you can?   Michael: Yeah, well, I think you should be, you should be ready, willing and able to quarterback the process should you need to, I don't think in 90% of the instances, this doesn't happen. And things go smoothly in the title, company and lender work cohesively together. And you sometimes need to nudge people along and make sure everybody is talking and playing nice, get in the sandbox. But I absolutely do think that if you are going to play in this space, you need to be willing to be able to do this kind of stuff. Because this stuff happens clearly.   Emil: Right? I wonder if this is more of a refi thing, because I had the same thing on my Indy refi, where I had to do a lot of communicating between lender title and even like mobile notary, I had to set it all up and like coordinate with everybody so that docs were getting to the right person at the right time so that I could sign and everything. So I don't know if it's a refi thing, or maybe that's just coincidence that both of us have had this experience with refinances, but yeah, interesting.   Michael: It's so funny, you mentioned that, I mean, I totally forgot that part of the story. So at the end, at the like, the 11th hour, the title company finally gets back to me says, oh, we're gonna schedule a mobile notary. And what's your address? And we're going to hit the mobile notary and they'll come out and do sign docs. I said, great. That's awesome. This is my address. And I was actually out in Colorado at the time. So this was I don't know, like, noon or two.   And I was like, it's getting late. So if I need to go to the local notary store, let me know they said it and I will schedule mobile notary so great. This is we'll get back to you when we have something that's perfect. So, five o'clock comes and goes six o'clock comes and go seven o'clock comes and goes, I don't hear anything from anybody. So I called her love to message their offices, of course close as an emails, Hey, didn't hear from you or isn't mobile notary. Nothing happens so I was like great. And in the morning, we were headed out to Utah to the National Park making our way back to California. So I get this call at like seven o'clock. And this guy's like, Hey, I'm Have a mobile notary, are you? Are you still okay to sign? I'm like, No, dude, I'm on my way out of town driving to Utah. Like, no, he's like, I got an email last night. I didn't see it. Can I? Can I be there in 20 minutes? I'm like, Yes, fine, come in 20 minutes. So he signed all the paperwork knocked it out. I was like, Oh my god, everybody's dropping the ball.   Emil: There's a lesson there. And that and this is something I've learned recently, if you're a remote investor, which if you're listening to this show, you most likely are, you're gonna have to deal with mobile notaries all the time, you can't, you can't sign in person typically, right? Because your lenders not local or whatever it is, find a mobile notary near you and add them to your team for anytime you have closing Doc's like, I use the same person now he lives, I think five minutes away from me, I coordinate with him, him and I like know each other now, and it's so much easier to handle that stuff and make sure they're in the loop when you know the person and you use them over and over again. So that's something I recently started doing.   Michael: I was in Tahoe, Nevada, on vacation, and I had to sign something and they're like, oh, it has to be a California notary. I was like, Oh my god, are you serious? So I had to drive across the state border and then look up like a mobile notary and find them and they were like you coming to me I just broke my back like, Oh my god, what is going on?   So I think there's other takeaways just be flexible, be versatile, you know, be willing to flex a little bit because not everything is going to be the same as it was in prior closings. And especially with the remote aspect, things just are different. So be aware of that and be willing to Yeah, to just be flexible.   Emil: And things don't go smoothly. We try to hammer that point home right? You got to you got to be ready and accepting of the unexpected because that's kind of just real estate and especially with just lenders and closing and docs and all this stuff. It never goes according to plan smoothly, at least from my experience.   Tom: Be comfortable being uncomfortable.   Michael: Yeah, that's it.   Emil: Alright guys, any any final words before we wrap this one up?   Michael: Just be in constant communication with everybody who's involved?   Emil: Yep. Alright everybody. Thanks for joining us on this weekend wisdom. We will catch you all soon. Happy investing,   Tom: Happy investing.   Michael: Happy investing.

The Palestinian Brainwash, UFOs, Repeating Bad Democrat Ideas, The Genocidal Hamas Charter. Andrew Klavan, Glenn Beck, Tom Woods, Michael Malice   Palestine BRAINWASHES their kids just like Critical Race Theory does to OURS Confirmed UFOs have INSANE capabilities. Are they proof of ALIEN existence?! I Read The Hamas Charter To Prove How Racist They Are KLAVAN: Why Do We Keep Repeating Bad Democrat Ideas? The Politically Incorrect Guide to Communism (Starring Tom Woods & Michael Malice!)   Palestine BRAINWASHES their kids just like Critical Race Theory does to OURS https://youtu.be/dmcuub7bsPI Glenn Beck 579K subscribers A recent video from Palestine shows two, young Palestinian girls reciting SHOCKING poems about Israel and Jews. Glenn says kids in Palestine typically don’t learn these types of words at home (though some of them do). More often these brainwashing and indoctrination attempts come from their schools — JUST like critical race theory attempts to do in OUR kids’ schools here at home… ► Click HERE to subscribe to Glenn Beck https://bit.ly/2UVLqhL ►Click HERE to subscribe to BlazeTV: https://www.blazetv.com/glenn Connect with Glenn on Social Media: http://twitter.com/glennbeck http://instagram.com/glennbeck http://facebook.com/glennbeck     Confirmed UFOs have INSANE capabilities. Are they proof of ALIEN existence?! https://youtu.be/3jZLBaUiv9Y Glenn Beck 579K subscribers Earlier this year, the U.S. Pentagon confirmed the leaked photos and videos of UFOs spotted by Navy pilots ARE legitimate, spurring a frenzy of theories. Glenn and the guys discuss the INSANE capabilities some of these UFOs display — like traveling 13,000 miles an hour without an obvious form of propulsion. So, are these mysterious objects PROOF of alien existence...or is there another explanation?   I Read The Hamas Charter To Prove How Racist They Are https://youtu.be/m6ZzKRArCSA Andrew Klavan 253K subscribers LIKE & SUBSCRIBE for new videos everyday. http://bit.ly/2QA8RbN The democrats like to stick up for Hamas - but do they really know who they are defending? If they don't, then they should figure it out by watching this video! If they do...well...then they're the worst. Watch the full episode here: https://bit.ly/3uQNyGb Watch full episodes of The Andrew Klavan Show here: https://bit.ly/3kHz06I Don’t miss 'CANDACE,' the Daily Wire’s new show starring conservative lightning rod, Candace Owens. Join today:  https://utm.io/udcMK   KLAVAN: Why Do We Keep Repeating Bad Democrat Ideas? https://youtu.be/ujtm1Mp_28A Andrew Klavan 253K subscribers LIKE & SUBSCRIBE for new videos everyday. http://bit.ly/2QA8RbN We have solid history now od Democrat ideas and policies, once implemented, do not work. Why does America keep electing these people and repeating the same mistake? Watch the full episode here: https://bit.ly/3uQNyGb Watch full episodes of The Andrew Klavan Show here: https://bit.ly/3kHz06I Don’t miss 'CANDACE,' the Daily Wire’s new show starring conservative lightning rod, Candace Owens. Join today:  https://utm.io/udcMK     The Politically Incorrect Guide to Communism (Starring Tom Woods & Michael Malice!) https://youtu.be/1rBofExMMOY Capital Research Center Watch on LBRY/Odysee: https://odysee.com/@capitalresearch:5... Watch on Rumble: https://rumble.com/vfts8h-the-politic... Based on the Regnery Publishing book "The Politically Incorrect Guide to Communism." Get the book at: https://www.regnery.com/9781621575870... Use promo code PIG50 to receive 50% off any PIG book when you buy "The Politically Incorrect Guide to Communism." In the fourth episode of "The Politically Incorrect Guide" Tom Woods & Michael Malice go back in time to the land of Michael's birth: the Soviet Union. Tom & Michael expose how America's intellectual class widely promoted communism, how despite cries of "McCarthyism" America did have a major problem with the Communist Party infiltrating the government, and the genocidal nature of attempts to achieve communism. The first season of "The Politically Incorrect Guide" includes ten episodes and will release throughout 2021. Each covers the undiscussed facts and stories about history, culture, and social movements, purged from today’s mainstream education system. Tom Woods penned the very first book in the series, "The Politically Incorrect Guide to American History," which was a New York Times bestseller. Learn more about Tom Woods at: https://tomwoods.com/ Learn more about Michael Malice at: https://michaelmalice.com/ Watch more films from Dangerous Documentaries at: https://www.dangerousdocumentaries.com/

The Palestinian Brainwash, UFOs, Repeating Bad Democrat Ideas, The Genocidal Hamas Charter. Andrew Klavan, Glenn Beck, Tom Woods, Michael Malice   Palestine BRAINWASHES their kids just like Critical Race Theory does to OURS Confirmed UFOs have INSANE capabilities. Are they proof of ALIEN existence?! I Read The Hamas Charter To Prove How Racist They Are KLAVAN: Why Do We Keep Repeating Bad Democrat Ideas? The Politically Incorrect Guide to Communism (Starring Tom Woods & Michael Malice!)   Palestine BRAINWASHES their kids just like Critical Race Theory does to OURS https://youtu.be/dmcuub7bsPI Glenn Beck 579K subscribers A recent video from Palestine shows two, young Palestinian girls reciting SHOCKING poems about Israel and Jews. Glenn says kids in Palestine typically don't learn these types of words at home (though some of them do). More often these brainwashing and indoctrination attempts come from their schools — JUST like critical race theory attempts to do in OUR kids' schools here at home… ► Click HERE to subscribe to Glenn Beck https://bit.ly/2UVLqhL ►Click HERE to subscribe to BlazeTV: https://www.blazetv.com/glenn Connect with Glenn on Social Media: http://twitter.com/glennbeck http://instagram.com/glennbeck http://facebook.com/glennbeck     Confirmed UFOs have INSANE capabilities. Are they proof of ALIEN existence?! https://youtu.be/3jZLBaUiv9Y Glenn Beck 579K subscribers Earlier this year, the U.S. Pentagon confirmed the leaked photos and videos of UFOs spotted by Navy pilots ARE legitimate, spurring a frenzy of theories. Glenn and the guys discuss the INSANE capabilities some of these UFOs display — like traveling 13,000 miles an hour without an obvious form of propulsion. So, are these mysterious objects PROOF of alien existence...or is there another explanation?   I Read The Hamas Charter To Prove How Racist They Are https://youtu.be/m6ZzKRArCSA Andrew Klavan 253K subscribers LIKE & SUBSCRIBE for new videos everyday. http://bit.ly/2QA8RbN The democrats like to stick up for Hamas - but do they really know who they are defending? If they don't, then they should figure it out by watching this video! If they do...well...then they're the worst. Watch the full episode here: https://bit.ly/3uQNyGb Watch full episodes of The Andrew Klavan Show here: https://bit.ly/3kHz06I Don't miss 'CANDACE,' the Daily Wire's new show starring conservative lightning rod, Candace Owens. Join today:  https://utm.io/udcMK   KLAVAN: Why Do We Keep Repeating Bad Democrat Ideas? https://youtu.be/ujtm1Mp_28A Andrew Klavan 253K subscribers LIKE & SUBSCRIBE for new videos everyday. http://bit.ly/2QA8RbN We have solid history now od Democrat ideas and policies, once implemented, do not work. Why does America keep electing these people and repeating the same mistake? Watch the full episode here: https://bit.ly/3uQNyGb Watch full episodes of The Andrew Klavan Show here: https://bit.ly/3kHz06I Don't miss 'CANDACE,' the Daily Wire's new show starring conservative lightning rod, Candace Owens. Join today:  https://utm.io/udcMK     The Politically Incorrect Guide to Communism (Starring Tom Woods & Michael Malice!) https://youtu.be/1rBofExMMOY Capital Research Center Watch on LBRY/Odysee: https://odysee.com/@capitalresearch:5... Watch on Rumble: https://rumble.com/vfts8h-the-politic... Based on the Regnery Publishing book "The Politically Incorrect Guide to Communism." Get the book at: https://www.regnery.com/9781621575870... Use promo code PIG50 to receive 50% off any PIG book when you buy "The Politically Incorrect Guide to Communism." In the fourth episode of "The Politically Incorrect Guide" Tom Woods & Michael Malice go back in time to the land of Michael's birth: the Soviet Union. Tom & Michael expose how America's intellectual class widely promoted communism, how despite cries of "McCarthyism" America did have a major problem with the Communist Party infiltrating the government, and the genocidal nature of attempts to achieve communism. The first season of "The Politically Incorrect Guide" includes ten episodes and will release throughout 2021. Each covers the undiscussed facts and stories about history, culture, and social movements, purged from today's mainstream education system. Tom Woods penned the very first book in the series, "The Politically Incorrect Guide to American History," which was a New York Times bestseller. Learn more about Tom Woods at: https://tomwoods.com/ Learn more about Michael Malice at: https://michaelmalice.com/ Watch more films from Dangerous Documentaries at: https://www.dangerousdocumentaries.com/

Michael Angelo Caruso teaches presentation skills on five continents. He's worked with Hallmark, Bank of America, Verizon, Rayovac, Citco, Nissan, many others. He's the author of Work Hacks and Dear Michelangelo, A Father's Life Letters to His Son. What a beautiful book there. He also has a highly rated speaker coaching class titled Present Like a Pro, and he loves exercise, movies and travel. Screw The Commute Podcast Show Notes Episode 438 How To Automate Your Business - https://screwthecommute.com/automatefree/ Internet Marketing Training Center - https://imtcva.org/ Higher Education Webinar – https://screwthecommute.com/webinars See Tom's Stuff – https://linktr.ee/antionandassociates 04:22 Tom's introduction to Michael Angelo Caruso 13:11 Background in entertainment and technology 18:27 Don't be linear and PowerPoint is linear 21:58 Edison House 26:42 Sponsor message 29:53 A typical day for Michael Entrepreneurial Resources Mentioned in This Podcast Higher Education Webinar - https://screwthecommute.com/webinars Screw The Commute - https://screwthecommute.com/ Screw The Commute Podcast App - https://screwthecommute.com/app/ College Ripoff Quiz - https://imtcva.org/quiz Know a young person for our Youth Episode Series? Send an email to Tom! - orders@antion.com Have a Roku box? Find Tom's Public Speaking Channel there! - https://channelstore.roku.com/details/267358/the-public-speaking-channel How To Automate Your Business - https://screwthecommute.com/automatefree/ Internet Marketing Retreat and Joint Venture Program - https://greatinternetmarketingtraining.com/ Talk to Me podcast - https://podcasts.apple.com/us/podcast/talk-to-me/id1333299536 Present Like a Pro on Facebook - https://www.facebook.com/groups/PresentLikeAProGroup/ Friday 5 Newsletter - https://www.michaelangelocaruso.com/friday-5 Internet Marketing Training Center - https://imtcva.org/ Related Episodes Dom Brightmon - https://screwthecommute.com/437/ More Entrepreneurial Resources for Home Based Business, Lifestyle Business, Passive Income, Professional Speaking and Online Business I discovered a great new headline / subject line / subheading generator that will actually analyze which headlines and subject lines are best for your market. I negotiated a deal with the developer of this revolutionary and inexpensive software. Oh, and it's good on Mac and PC. Go here: http://jvz1.com/c/41743/183906 The Wordpress Ecourse. Learn how to Make World Class Websites for $20 or less. https://screwthecommute.com/wordpressecourse/ Join our Private Facebook Group! One week trial for only a buck and then $37 a month, or save a ton with one payment of $297 for a year. Click the image to see all the details and sign up or go to https://www.greatinternetmarketing.com/screwthecommute/ After you sign up, check your email for instructions on getting in the group.

How do companies use forecasting? When will forecasting, as we practice it at Global Guessing, become more common and mainstream? What tools can I use to forecast better? If you're curious about the answers to any of these questions, then this episode is for you! In this week's episode of the Global Guessing Weekly Podcast we chatted with Tom Liptay and Michael Story, co-founders of Maby, Superforecasters, and former alumnus of Good Judgement. Maby is a forecasting platform created to help companies and investors forecast more accurately. Companies often have internal ways of forecasting revenues or market trends, but few use the systematic and scientific techniques and methodologies of quantified forecasting that we like to explore at Global Guessing. Hear about Maby, and Tom & Michael's journey to forecasting in this exciting episode. Tom Liptay: https://twitter.com/TLiptay Michael Story: https://twitter.com/MWStory Website: https://globalguessing.com/​​ Twitter: https://twitter.com/GlobalGuessing​​ LinkedIn: https://www.linkedin.com/company/global-guessing/ Note: We originally planned for this episode to come out next week. However, due to a scheduling issue we had to push this episode forward. This is why you'll hear us reference the episode as episode 12 rather than 11.

In this extremely special episode we bring on Dr. Tom Michael's aka Dr. Boyd's mentor during his early years of practice! We bring up some good stories of "young" Dr. Boyd

Hey, thanks for joining me again!I was able to have a nice talk with Tom Michael (@uglytom for you Instagram heathens), and I had a great time! Tom has a lot of valuable and great perspectives in his experience tattooing, and I hope we have a chance to catch up again on the show because I’m sure we could have gone on for quite a bit longer if we’d had time. I hope you’ll enjoy listening!Still working through some audio and formatting stuff, but I think you will notice a stark improvement from the introduction episode. Thanks for sticking with me as I learn my way around all this. Chat with ya soon!

Tom asks about the 17 hour rule after having read Set it & Forget it. How does one know where to start, 16 or 17 or 18 hours? Michael is worried about SFi. Roger feels like he can never “turn off” and asks how to correct this. Do you have trouble sleeping? Can’t sleep? Have questions about insomnia or sleep? Please submit here and we will try to respond soon in an Open class episode. https://www.thesleepcoachschool.com/h...​ Would you like to work with a sleep coach and/or learn more? Awesome! Here are some great options: - The Self Coaching Master Program www.thesleepcoachschool.com - BedTyme, a sleep coaching app for iOS and Android. - Daniel’s book Set it & Forget it (great place to start!) or This is Natto (if you want a deep dive into the mind) on Amazon. The self coaching program is perfect if you like learning through video and want to join a group on your journey towards sleeping well. BedTyme is ideal if you like to learn via text and have a sleep coach in your pocket. Not sure where to start? Check out these playlists! This is natto - the perfect place to start learning! https://www.youtube.com/playlist?list...​ Success stories - if you need hope and inspiration, this is for you. https://www.youtube.com/playlist?list...​ Insomnia insight - a list of every single episode. https://www.youtube.com/playlist?list...​ Talking insomnia - guests with trouble sleeping or experts share their stories / tips. https://www.youtube.com/playlist?list...​ Hypnic jerks, hypnic awareness and other common issues. https://www.youtube.com/playlist?list...​ Fatal insomnia - for those concerned about ffi and sfi. https://www.youtube.com/playlist?list...​ The self coaching model https://www.youtube.com/playlist?list...​ Best! This content does not constitute medical advice, diagnosis, or treatment, and should never replace any advice given to you by your physician or other qualified healthcare providers.

10 cent Tom chats us through his recycling dream! There’s been hair drama in the Hannant household Bianca did a good deed… kind of Ben’s coach, Michael Katsidis, chats about his chances A 2013 rapper predicted coronavirus?? Our latest So GC Redo entrant! See omnystudio.com/listener for privacy information.

In this Episode Emil, Tom & Michael cut through the noise and explain how to calculate cash flow properly.    --- Transcript   Emil: Hey everyone, welcome back for this week's episode of The Remote Real Estate Investor. My name is Emil Shour. And I'm joined by my co host,   Tom: Tom Schneider.   Michael: Michael Albaum.   Emil: And today we're going to be talking about how should you actually calculate cash flow. There's a lot of different formulas out there. And we want to clear the air and give you a we believe is the best way to calculate what your projected cash flow should be as you're analyzing a property. So let's get into this episode.   Theme Song   Emil: Alright, guys, so this was actually a topic that I thought would be interesting to cover, because I feel like there's a lot of misinformation out there. And I feel like it's really easy to read case studies and blogs and go on YouTube or on social media. And you'll see people talking about their cash flow. And the numbers seem outrageous, right? It's like a property renting for 1100 dollars. And they're talking about $400 of cash flow a month. And obviously, it seems like there's a lot of things missing from the way their, their expected cash flow should actually look like. And so I thought it'd be good for us to dive into this on this episode. Have you guys seen the same thing? Like a lot of people?   Michael: Yeah, I have a property that rents for 1100 cash flows 400 bucks a month, so this is gonna be interesting.   Emil: Oh, do you   Michael: No just kidding.   Emil: Do you guys see this a lot? Do you guys like get this kind of feeling like being prevalent out there that a lot of people maybe aren't calculating cash flow the right way?   Tom: Or they just inflate it a little bit to feel good about yourself.   Emil: Sound cool?   Michael: Yeah, he's a bit of an ego thing.   Tom: Yeah, the thing with returns and what I like about this episode is man assumptions are just so important. And two people can be looking at the same deal, analyzing it and come up with completely different returns based on the way that they're calculating these, you know, what's in the sausage factory of those calculations is just so critical.   Emil: Yep.   Michael: I agree. I think that's kind of where deals often get made or broken is in the assumptions. And if you make a bad assumption, you can very easily buy a bad deal. And you could just as easily lose out on a good deal. So getting good at making assumptions is huge. But I totally see this regularly, where people aren't including the things that I would include in their cash flow calculation to determine what it is, I think it's it's too often to light.   Emil: Yeah, I agree. I've actually seen examples of this of properties that I've analyzed, like someone posted on Twitter, a property they just purchased. And I remember that exact property, and I had underwrote it as well. And my cash on cash was like half of what, you know, they said their cash on cash was going to be so I've seen it on like, on property, like specific properties, I've underwritten, too. So hopefully, it's a good episode for people to just have like a little bit more of like realistic expectations of what their cash flow could look like after they really account for everything and peanut butter spread all the expenses that come up throughout the year, right, Tom?   Tom: Jiffy, that Oh, yeah.   Michael: Jiffy on the spot?   Emil: All right, let's start out by talking about like, what is the formula? What expenses should you be considering as you're calculating this number?   Michael: The PITI is an acronym for your principal, interest, taxes and insurance. So the principal and interest is just determined by whatever the mortgage looks like, whatever the interest rate, whatever the amortization period is, and then your property taxes, if you are escrowing, these, the lender will often pay them for you. And so you pay monthly into this account. And you don't have to have this big property tax bill once or twice a year. And so I would always call the county assessor to determine what the after sale property tax looks like for an investor, and then obviously, divide that number by 12, to get a monthly cash flow amount.   And then your insurance, I use a very ballpark estimate of point eight 1.2% of the purchase price for properties under 150 K. And for properties over 150 K, you're probably looking closer to one half - .8% of the purchase price, one half percent to .8% of the purchase price. And so I'll use that number divided by 12. And again, apply that to my monthly cash flow. So you've got your principal interest, taxes and insurance, and then your property management on top of that, Tom, what are some other expenses that I want to hog the mic here that you would include in your monthly cash flow?   Tom: Ohh, vacancy, so an often assumption used is half of a percent of the annual rent or perhaps a month, depending on what that term time is, like, like a more conservative would be doing it a month, but hopefully that would be shorter than that. Another one is within that property management fee, or I guess this would be separate but they would be managing that process. If you're using professional property management would be turned costs would be repairs and maintenance costs and to define the term cost. That's the cost You're paying after your tenant moves out, and you have to get the property rent ready again. So that's typically more static stuff, some paints and carpet, perhaps if there's some older deferred maintenance that was there when the tenant was living there that kicked down a line that would be addressing any of those issues. So turn costs, what do you typically budget for your? I'd love to hear what you guys typically budget around turn costs.   Michael: 1 million dollars. I've seen this inverse relationship between monthly rent, amount of the property and turn costs. So if I've got a $2500 a month rental, my turn reserved that I'm escrowing is going to be a lot less than a $500 a month apartment. So can I have a bigger security?   Emil: Do you guys have a separate turn reserve? Yes, don't just leave it as a repair and maintenance and it kind of just gets lumped in there.   Michael: I mean, it can, I just am mentally bucketing money for when the turn comes, that's totally independent of the regular repair and maintenance and the regular capex that I'm anticipating and also reserving for a page back the roof, exterior paint that kind of stuff.   Tom: You have a mental escrow account.   Michael: Yeah, mental escrow account, but also I put it into my calculator, it is a separate line item. But yeah, mentally, I'm thinking about like, Okay, this money is going towards the eventual turn inevitable term for kind of middle of the road rental, I put a couple hundred bucks. Yeah, on it, depending on when the last time that the unit was turned. If you did a big turn at the beginning, your subsequent turns are probably going to be a lot less. And you can also do things on the front end, like tenant proof properties, put in vinyl flooring, laminate flooring, as opposed to carpet, you never have to worry about that, again, you know, maybe tougher cabinets, builder grade cabinets, you can put into the getting into get less banged up. So there are things you can do on the front end to make your turn reserves down the road, your turns less expensive.   Tom: I'm going through a turn right now on one of the properties. And thankfully, the property manager which just did their move out inspection in the properties in great shape. So this is going to be a fairly inexpensive turn, it's like 400 bucks or something like that just to do kind of a deep cleaning. But in my experience, turn costs have ranged anywhere from 400 to like 10,000 bucks if there's a lot of deferred maintenance. And where you see those big deferred maintenance is oftentimes if you have a tenant that's been living in the property for a super long time, then stuff builds up over time. Sneaky stuff sneaks up like fences and any kind of like loose decks and stuff like that is the one that always surprised me that I'm like, dang, that's expensive. So in budgeting, kind of depending on the condition of the home, my kind of down the middle of the line, say we're talking about a 1700 square foot three bedroom, two bath, I typically budget around 2000 bucks or something like that for the turn if it's occupied. And it's, you know, been so for 12 months.   Michael: Wow. $2,000 you budget for the return? I mean, for the for the turn,   Tom: I'd say anywhere between 1000 and 2000 bucks. I mean, I don't know you don't necessarily and be overly cautious, but then optimistic.   Emil: So how, at this point, how are you even making any money on these with all those assumptions? I'm kidding, we don't have to get into that. But I think the only other one we're missing is utilities. So if you're buying a single family home, most of the time, water and electric are going to be even lawn service, all that stuff is going to be covered by the tenant. So you don't have a ton of utilities to pay for. If you're buying multifamily. A lot of times you as the owner, you're on the hook for water heat, sometimes depending on where you're buying a couple other different things. So I've noticed with multifamily, you have to account for a lot more utility versus single family, the tenant is covering a lot of those.   Michael: And also depending on how the property is metered, you may not be able to push utilities onto the tenant for multifamily and a lot of multifamily also have what's called a house meter, which is a common area usually just electric meter. That's good for common area lights, exterior lights, that kind of thing. So you'll as the owner will likely be responsible for that. Let's say again, just check how the property is metered. And that'll give you some indication of whether or not you as the owner are going to be paying utilities whether or not you're going to submeter it or check some of that expense back to the tenants in the form of a utility bill back or just included on the rent. Again, check how it's metered.   Emil: Yep. So okay, so I think those are all the different line items It was interesting to do because you guys have a couple more line items than I do so that may be some homework for me to start being a little more conservative. I thought I was being conservative here I am looking at you guys like dang   Tom: Looking back at my bottle I I estimate typically like 1000 bucks not 2000 bucks in that like catbacks turn costs but a lot of that is dependent on what I'm seeing like within the inspection if it's like in pretty good shape your point to Tom How do you ever cash flow on your on your property with that turning cost is is right and so yes, a little bit less overzealous with my Yeah, not 2000 roughly you know 750 to 1000 bucks is is more where I target that turn costs the once a tenant moves out. So within that cash flow assumptions,   Michael: And is that inclusive of like cap x reserves to for HVAC roof? Or is that a separate line item?   Tom Two separate line items. So one of them would be for R&M for costs that I'm incurring? Well, the tenant is in the property. So roughly 75 bucks a month, maybe 100 bucks a month, and hopefully a lot of the months that doesn't happen, and you don't do that, but then a separate line item for reserve for capital expenditures.   Michael: And so is your turn reserve considered cap x?   Tom: Yes, that is that. Am I thinking about this the same way that you are? What? Go ahead, Michael.   Michael: Yeah, I mean, I just have a separate, I break it out, separate I call it, you know, turn reserve versus capex. My turn reserve I expect to spend every year or every tenant turn versus the cap x is more, I think 10. Instead of that a little going into this bucket, that's going to be a piggy bank to draw on when I need to replace the roof replace the fat. But at the end of the day, I mean, the money is going into the account anyhow. So I just mentally earmark it for certain purposes.   Tom: I like it. So just to paraphrase the three buckets that you have within these type of costs is R&M tenant occupied, right. Yeah. And then one would be turned costs just bread and butter, cleaning paint. And then the third one would be more specific for like, roof or like, you know, major property system? Ah, back. Yeah, Michael: Big ticket systems.Yeah, exactly.   Tom: I like it. Nice. Nice.   Emil: You got a lot of very detailed Michael, I like it.   Michael: I'm a reformed engineer. I don't have a choice.   Emil: All right. So we've gone over, like, what's the formula world of things we consider, we've kind of like sprinkled in some of our assumptions, but maybe we should just go through each line item and give what we think maybe are some good assumptions for people. Would that be helpful?   Michael: Totally. Let's do it.   Emil: Okay. All right. So mortgage, I don't think we need to get into how you can go online, use a mortgage calculator, figure out your mortgage payment. That one's pretty, pretty simple. Insurance. Michael, I really liked your, your kind of formula, I use something pretty close. Can you describe that again?   Michael: Yeah, so I like to use and this holds fairly true for properties. 150,000 purchase price or less. So I like using point eight to 1.2% of the purchase price. So let's just take an example a property's 100,000. on the low end, we're talking $800 a year on the high end, probably around 1200. And what's going to make the difference on that sliding scale is one, how conservative how much insurance? Are you looking to get? What type of policies that are replacement cost versus actual cash value? Is it really a comprehensive policy? Or is it named peril? So I am a very conservative person, I come from the insurance industry, I grew up in the insurance industry, so I get a more expensive policy than is available for that same hundred thousand dollar property, you know, my guess is you could go get insurance for 400 500 bucks annually, it is available is out there.   But it's probably not going to be the type of coverage that I'm comfortable with. And so to help me sleep at night, I'm going to up the coverages, I'm going to add some additional layers to it probably get some additional liability coverage. And so the additional coverages just have additional cost. So for the extra $300 a year, or $600, or whatever it is, that's often worth it to me. So I've just over the years and purchasing properties and helping other people purchase properties, that point eight to 1.2% of the purchase price tends to be fairly reasonable. And I'm confident that getting that type of coverage, you shouldn't be paying much more than that, that's going to be on the high end, being very conservative.   So if that ends up being your biggest expense on the property, you know, of course, we might want to go back and take a second look at things and say, oh, maybe we were too conservative. But I find that typically the $300 that we might be too overly conservative isn't going to push something from a no go into a go category. There are typically going to be other expenses that are significantly larger as a percentage of the income that we want to take a second look at and see if we can't refine those a little bit more. So that was a super long winded rant. Hope that answers the question Emil.   Emil: No, that was good. That was great. Okay, so that's insurance. Tom, anything you want to add there anything you kind of like to use for an assumption that's made different from what Michael mentioned,   Tom If you look at the Roofstock calculator, really helpful tool, you log in to Roofstock and look at an individual listing. And then you click on financials. Just below that financials tab, you can click on cashflow, you can see kind of a rundown of all these different costs. The Roofstock calculator is pretty handy in that you can see all these assumptions. One thing I like about Michael's example for insurance is he does it as a percentage of the purchase price. It's just kind of general guidance. And a lot of values in the risk calculator does it a percentage of income. So I think in some cases, a percentage of income makes sense. And in some cases, a percentage of the value makes sense. So just as kind of like an FYI, you can see these assumptions in here and looking at a property that's $110,000 we can see this insurance value is pretty close to Michael's assumption of point zero Point 8% point oh 8%.   Michael: Yeah, yeah,   Tom Where that would be $800. This example is a little bit less than that at $110,000. Home is around $600. But within rootstocks calculation for insurance, they'll actually get a value that a insurance company will, will bind again. So part of the Roofstock's operations team, they'll go out and work with one of our insurance partners, insurance costs can change based on what kind of deductible you have. So depending on what value you have, it could either the price go up or down. But that's my two cents is I'll just touch on Roofstock as a platform and their calculator, the value they have and where it comes from.   Emil: Cool. So next one is property tax. I don't think you should estimate anything for this one, I think Michael mentioned called the property assessor, some cities, they have a like part of their website, you can literally just go put in the value that you're going to be buying at you and put in the address, and it'll spit out what the new property tax will be. So this one's probably no one you kind of estimate based on percentages or whatever. This is something, it varies from state to state, city to city, you should probably just go figure out what it is for your market. So you can accurately estimate it.     Tom: There's a lot of landmines and trying to calculate property taxes, one of them being if you're looking at last year's taxes, the current owner might be an owner occupied, so they get a homeowner's exemption. So I would be conservative in that property tax assumption.   Emil: Cool. Alright, so next one is property management, property management. This one's usually pretty easy to figure out, you know, as you're interviewing different property managers, you find out what their property management fee is, whether it's flat fee or percentage of monthly rents, like Tom and Michael were talking about, and this isn't something I should I do but I should be doing in that property management or you can have it as a different line item, adding it make sure you add in whatever you think for lease or releasing fee, right, so releasing fee will usually be a smaller percentage than a completely new lease, but factoring in every year that the property manager is going to charge either a release fee or if it's a new tenant, a leasing fee. So adding that up there, Tom, you want to add something   Tom: Yeah, just specific to roof stocks calculator that it has or any calculator that you're building perhaps in Excel with rootstocks calculator, It defaults at 8%, I remember something that we wanted to do on the product side was make it like updated dynamically based on picking a property manager if you use one of Rootstock's preferred property managers to automatically update, but whatever the case is, when you know what that property manager fee is going to be for rent collection, you should update your calculator accordingly, within rootstocks calculator, it defaulted. 8%, but you should keep that updated.   Emil: All right, give me on. Okay, so after property management, we have utilities. And so for utilities for anything, two units, plus, I use $1,000 per year per unit. So if I'm looking at, let's say, a four unit building, and I want to figure it out monthly, it's just $1,000 times forums 4000, divided by 12, to find the monthly for single family, I don't have a more cookie cutter approach. Again, it's it's a lot of the times utilities are going to be covered by the tenant. But sometimes depending on some cities, like I own a property in St. Louis, a single family home in St. Louis, the water bill and the sewer bill are separate. Whereas most other cities, it's all on one bill. And so the tenant pays the water bill. But the sewer bill comes to me as the owner. So that's something I have to factor in as part of my utilities. Are you guys any kind of formula you use to estimate utilities?   Tom: I think on every lease that I have the tenant pays for utilities, I don't even have that in my, in my model, I guess it's more common with multifamily and bigger stuff. But utility isn't even something that we'll have. Perhaps during the turn, you know, I might spend like $10, or whatnot, just during the turn time where the utilities will be on me as the landlord, but for the most part, yeah, I don't consider that. In my cash flow.   Michael: I was gonna say for me for multifamily, it's, it's similar, I think 1000 bucks a year per unit is fairly reasonable, depending on what utilities are being paid by the owner. And usually the listing will say on or paid heat, water or whatever. And that can give get pretty good insight into all tenant paid utilities. Okay, that's gonna be a whole lot less than a grand a unit a year,   Emil: Like 12 months of expense, prior expenses from the seller. And so you can kind of see like, how much are they paying for all these different expenses and see if it lines up with what you have and if you need to adjust up or down but as I have no information, I just put $1,000 a year per unit.   Michael: Yeah. And I would say don't hope that you get those t twelves. Go demand those in the due diligence. I would say that's something that you really need to get a handle on before you close the property because you could find out that you were way off on your estimate and really buy yourself an alligator.   Emil: As our good friend Michael Zuber likes to call it absolutely. Next one is repair and maintenance and capex some people separate those out. Most people separate them out. I have them as one line item now and for multifamily, I'm using hundred dollars a month per unit is what I do for repair, maintenance and capex just kind of all together. for single family I've usually used 120 550 per month on single family is the amount I've used for repair and maintenance and capex as one line item. How about you guys?   Michael: like Tom for my repair and maintenance, I break it out into those three that we talked about. So for repair and maintenance, I'll use 75 $200 a month depending on the property size, and location and tenant class. So in a milder climate with a good tenant, that's not a massive property, I'll use 75 bucks a month, all the way up to the size of 100 bucks a month. And then for capex, I really let the inspection report dictate what that looks like. So if you've got that in advance, like on a roof stock property, you can get a decent handle on what that might look like. versus just looking at the photos or plugging something in for a run of the mill single family home that seems to be in decent shape 750 bucks a year, between 750 to 1000 bucks a year for capex usually should do it, that's, you know, in three years time, you'll have 2000 plus dollars set aside.   And also, depending on if I'm going to get a home warranty or not, for that property is going to also determine what type of capex budget I'm looking at. And capex is kind of one of those tough ones too, because it's a bit of a living, breathing, moving target. If I just replaced the H fac this year, well, now I'm going to put less money set aside for that each of that going forward because I know I got another 10 to 15 years out of it. So depending on the life of the systems, I call it the property will dictate what that budget what that number should be.   Tom: Ditto to Michael and I like that concept of kind of trade off, you know, you might not what you might be spending more on one year on the turn or or catbacks you know, major property systems that's going to take away for future costs related to to R&M. So similar to Michael and structuring that and if you really wanted to geek out and get really sophisticated on building a crystal ball to estimate some variables that we used when I was working on one of the REIT the vintage of the property was the size of the property just because oftentimes these costs, especially on the turn are directly related to how big the property is and square footage, and perhaps certain vintage, you might expect more or less on those turn costs. Those are some important variables to consider.   Michael: The one thing I would say on vintage is just look to find out what's been done on the property. I've got a 4-Plex that was built in like 1892. And we did a total gut rehab on it down to the studs, we put in brand new electrical brand new plumbing, brand new roof. I mean, everything is brand new. So the year of construction is at 92. So if someone attacks record, that's what they would see. But as far as the insurance is concerned, the effective year of construction in 2019. So I would say you know, with a take it with a grain of salt look just a little bit beyond the year of construction to determine Okay, what was done? Absolutely, if something was built in the 50s it's going to have more maintenance and something that was built in 2000s. But if that 1950s has all new electrical plumbing, I would say they might be comparable or that might could even be more updated.   Tom: before we run out of time. I'd love to hear your guys's thoughts, more multifamily dudes on like in ciliary and silivri income like perhaps having a laundry machine or having like storage sales. How do you guys underwrite that when you're thinking about cash flow on your multifamily? Because there's also the costs of like up keeping those type of amenities?   Michael: Absolutely. So for me, I'll just jump in here Emil for I gotta hop off. It's something that I think about, and we'll calculate if it's like a reasonable assumption. And so for me, I just have laundry, the vast majority of multifamily on site coin laundry, it's not a big moneymaker by any means. I mean, 15 to 20 bucks a month, maybe. But there's cost associated. so there's costs associated with that T rex and paying the water and electric bill for those machines because those are on house meters. So the big ones that I like that I use is storage, digital storage or parking. I know pretty darn sure what I can get for those on a monthly basis is for rent comps talking to property managers and also it has zero expense. So those are ones that I really like adding into the pro forma or using to drive value and increase the NOI.   Emil: For me I am newer to multifamily so I don't have like the confidence Michael does and knowing Okay, we have a garage we have some spaces how much we can get for it. So I don't even account for any of that and laundry. Even if you have a bigger building maybe you account for it, but I haven't been when I'm looking at stuff I just those to me are are extras, but I haven't really been accounting for those is that extra income because like Michael mentioned, they do come with some extra expense as well. So unless it's parking, parking and storage, that's that's on the property, but laundry, it's you know, you're paying for that as a landlord potentially. Okay, so you guys had mentioned turn that you guys actually have it as a separate line item. I think we already were to talk about kind of what you guys set aside for that. So Tom, you mentioned like $1,000 every year every other year, how do you set that term budget aside?   Tom: Yeah, I would set it as an annual You will amount 750 to 1000 bucks. And again, if the property's been occupied for a long period of time, I would expect that eventually be a little bit north of that value. But you know, be happily surprised when you get back in your turn cost is 400 bucks, 300 bucks, and that that you can roll around in that extra money.   Emil: Yeah. And you know, it also, I think it depends on property type, right, with multifamily, you're just gonna typically see higher turnover. So you're gonna have more turns where a single family I don't know about you, Tom. But like, single family, a lot of my tenants stay really long term like I've had of the four single family homes I've owned over the last couple years, I've had one turn, the rest of them have stayed even with rent increases, like single family tenants just seem to stay a lot longer.   Tom: I totally agree. I mean, I was saying I had a turn right now, but it's like, it's pretty far and few between. I think you're right, though. And there are studies around SFR having longer duration. And it makes sense. I don't modify my cash flow assumptions. I'll still assume you know, based on whatever is on the lease like expect, the worse that they're going to move out. But generally speaking, like you said, oftentimes be surprised. happily surprised. Roll around that extra dough.   Emil: Awesome. All right. So then the last one, I think we should cover here that we mentioned in the different expenses, you should be considering his vacancy. What's funny is for single family, I always do 5%. I feel like that's like the industry standard. But again, if I'm looking at my actual vacancy across my portfolio, it is way below that I think it's just good to be conservative, because I don't know, maybe you're in a city or an area where your tenant does leave once a year, whatever that may be. And it kind of equates to 5%. But honestly, I've heard so many people who have seen my family and they're like, you know, they're good landlords, they have the same tenants for five to 10 years. So your vacancy becomes real tiny.   Tom Especially Emil, I think if you are getting in really nice school districts, it's a hassle. Like if you have a rental in a nice school district, and you have good tenants with kids, like no reason to move out, you know, I think it's an upside to including that in your acquisition strategy a little bit.   Emil: Totally. So that 5% for single family for multifamily, I do seven and a half 8%, usually just depending on where I'm investing in. But I feel like that's a solid level, like seven and a half percent. A lot of these things also, especially as you're learning a new market, every market I think is different. And you're estimating these expenses, but I imagine in five to 10 years, I'm going to be much better at like being able to look back at all my expenses for five years and say, Okay, here's what it actually averaged out to be. And here's how my pro forma should change. So you know, I think right now, it's like, especially in the early goings, you're kind of just taking some different assumptions, either talking to people who are in that market, or figuring it out. And then I think over time, you're just gonna get really good at knowing, alright, my expenses are basically this amount every single year per unit. This is my vacancy over the last five years. So I think, just with time, you'll get really, really good at these pro forma. Yeah,   Tom: Yeah. And when you're setting that budget, and thinking about your cash flow, that's goal setting, right? And to be successful, and to make money as a real estate investor is to, you know, spend less and make more. And once you identify those numbers, those are specific values that you're working against. So when you get to the end of the year, it's like, Okay, how do we do against these values, and hopefully beat them. And if you don't, you know, reasons why and how to improve upon it. And if you don't beat those value goals, hopefully you put enough of a cushion, that you can still be fine. And then get back at it next year and work with your property manager if you're working with a property manager. So it's fun.   One other line item for you Emil is HOA fees. So if you're buying a property, and there's a homeowner's association fee, and those can be super high in some areas, especially if you're buying like condos, or they can be really, really low. So that's a really important consideration because that's money in money out.   Emil: Yeah. And like you mentioned, some of them are high and some of them are low. Like I have one property, I only have one property that's in an HOA, and it's $21 a month so as I was looking at it, everything else I really didn't want a property with an HOA but at $21 it wasn't really affecting my monthly cash flow. And so yeah, I went with that. But yeah, be careful sometimes it can be $100 plus, so that can really really you know, mess with your cash flow number. So good call Tom.   Tom: And kind of back to that exercise of comparing your pro forma assumptions for cash flow to actual you have some actions that you can do to try to improve them specifically around shopping. for insurance costs, that's something that I need to do right now, to revamp the insurance costs, looking at mortgage rates, interest rates have never been lower. So you can beat those values. And then looking at that trade off between taking care of items on the turn or just repair replace. So there's a lot of places that you as an investor, in working with your property manager and some of your other partners that you have, there's actionable item, actionable items to improve on those values.   Emil: Yep. You know, there's other small things, right? Like if you are again, buying, let's say, a four unit building, and you're on the hook for water, installing low flow toilets, right, not expensive, but over the course of a year, it can add up to some decent savings that probably more than paid for the toilet in the first year. So like there's, you know, little things you can do to also try to decrease your expenses along the way.   Tom: Yeah. And rent growth versus vacancy. You know,   Emil: There you go.   Tom: Have we done a debate on that rent growth versus vacancy?   Emil: We haven't we should   Tom: That's coming up in the pipeline, for sure.   Emil: Yeah.   Tom: I like the question of you know, do you are raising rates at the risks of vacancy? Right, I got a feeling I think I know where we're gonna land. But it'll be fun to just switch back and forth in that debate.   Emil: Yeah. I also think it's depending on what you invest in, I think dictates how you do it. Right? If you're investing in something that's valued on cap rate makes a lot more sense. Because it's all based on income versus a home or up to four units based on sales comps. You know, you're less incentivized   Tom: Very astute point, Emil makes a lot of sense.   Emil: But we can get into all that in a debate.   Tom: Yeah, it'll be a good episode.   Emil: With that. I think it's probably a good spot for us and this episode. Thank you again, everyone for lending us your ears, and we will check you out in next week's episode. Happy investing.   Tom: Happy investing.

In this episode Tom and Emil go head to head to debate which investing strategy is superior, local or remote investing.    --- Transcript   Michael: Hey, everybody. Welcome to another episode of their moat real estate investor. I'm Michael album. And today I'm joined by my usual hosts,   Tom: Tom Schneider   Emil: And Emil, The Real Deal, Shour.   Michael: Ooh, I love that self-proclaimed nickname. Love it. And today we're going to be doing another show down. We've got a lot of feedback from our listeners that showed on episodes were well received. So today we are going to be debating the pros and cons of remote investing versus local investing dunked on done. Well, guys, let's jump into it.   Emil: That was actually a nickname that someone I went to college with gave me.   Michael: Okay. So it wasn't self-proclaimed.   Tom: Emil, The Real Deal.   Emil: We were in the same frat and we had like boxing night and…   Michael: that's so good.   Emil: He introduced me as Emil, The Real Deal!   Michael: I would never go on a boxing match with anybody that had that intense of a nickname.   Emil: Those people went down. Went down hard.   Michael: Okay. So for any of our new listeners out there, my name is Michael Albaum and I'm the head coach with the Roofstock Academy, Roofstock's education arm, and Emil, do you want to tell us a little bit about yourself and who you are?   Emil: Yes. My name is Emil Shour. I work on the marketing team here at Roofstock, which if anyone's not familiar, it's a marketplace where investors come to buy and sell single family rental homes. And so I work on the marketing team. I actually invested through Roofstock's marketplace before I was employed here. And now I have the joy of getting to spread the word.   Michael: So you're drinking the Koolaid.   Emil: That's right.   Tom: An evangelist!   Michael: That's right. And Tom, who are you my friend?   Tom: That is a deep question.   Michael: Start at birth!   Tom: Start at birth. So I am an investor. I'm a California broker. I work here at Roofstock on the investor education team. I initially worked at one of the very first publicly traded REITs, doing single family rental, kind of in the wild West of 2009. And then our CEO went and was a co founder and starting Roofstock. So I jumped over and joined him at Roofstock on the product side and the operations. And now, as I mentioned on the investor education side.   Michael: Awesome. Love it.   Tom: Before we get into the meat of the episode, a quick announcement as usual, this episode was brought to you by Roofstock Academy. Roofstock Academy is Roofstock's education program to get you to the next level. We include over $2,500 worth of marketplace credits on demand lectures, one-on-one coaching group coaching, all kinds of benefits. And we have this new benefit that we put together that Michael is leading it's our book club.   Michael: Within the Roofstock Academy, we actually do a monthly book club. We get together and read the same book over the course of the month that has some takeaway, some motif, some applicable things to real estate investing. And we get together at the end of the month and we have a chat about it. And cause now it's COVID, we're doing that all virtually, but hope to be able to do that in person at some point down the road. And this upcoming months book club book is Michael Uber's, one rental at a time. And as an added bonus for this month book club, we're actually going to have Michael Zuber on that call with us as kind of a fireside chat. And as we're going to be discussing his books, we get to hear it from the source himself about some of the reasons he wrote the book and some of the takeaways from the book as well. So now is the opportune time to join the Roofstock Academy roofstockacademy.com. So you can join us for that monthly book club and take advantage of all of the other advantages the Roofstock Academy has to offer as well.   Emil: For people who aren't familiar with Michael Zuber, he's been on the podcast twice. Good friend of the podcast episode 11 was the first one we had with him, the power of four rental properties and how it can change your life. And most recently, I think we, we dropped an episode with him this past week called how Michael Zuber Quit His Job On a Whim After Achieving Financial Independence. So if you're not familiar with who he is, go back and listen to those episodes. He's a super, super smart guy he's been investing for. I think 20 plus years. Now he knows a lot and has a really, really awesome message for other investors.   Michael: So today for our shutter and episode, we're going to be taking two sides of this argument and splitting it up a meal. Why don't we give you remote? We'll give you a remote and Tom, you're going to have to defend local investing.   Tom: Yeah. A classic episode, a classic discussion for the remote real estate. We're going to, you know, try not to be too biased…   Michael: But it is called The Remote Real Estate Investor,   Tom: But it'll be fun. It'll be fun. I don't know. Yeah. It's fun going to the other side of the table. So..   Michael: I think it's important to address and acknowledge both sides of any topic of any discussion because it's two sides to every coin and there is no one size fits all approach, even though remote real estate investing is far superior, but we're going to get to that in the episode. So a meal, would you like to go first or second   Emil: I'm game for either Michael?   Michael: Okay.   Emil: You're the moderator.   Tom: Go first Emil. That way I'm giving you a heads up. I'm handicapping you alright,   Michael: Emil, the floor is yours.   Emil: All right. So I have three points I want to hit here. That Tom is going to have a very hard time rebutting. So the first one is that with remote investing, you buy where it makes sense. So if you're a local investor, you're looking around at your local market, you're geographically constrained to just the deals around you. So if you live in Los Angeles or the Bay area, like we do, prices have gone out of control. Prices have gone up a lot and rent has not been able to keep up with that. So in certain markets, it's very hard to find cash flowing properties, unless you have a lot of money, put a lot of money down. It's very, very hard to make those work. There's still good markets. It's just harder to make the cash flow work. So when you're a remote investor, you buy where it makes sense.   You look at different markets, you look at where deals are, where the fundamentals are good and you invest there. You're not geographically constrained to only where you live. You go to where the deal is. Makes sense. The second point I want to touch on is you get to build a team instead of doing everything yourself. I know personally, if I was investing locally, I would want to do a lot of things myself, instead of relying on other people, finding the right team. And I think that's an advantage in building a team because these people are professionals. I'm not, I'm not a professional property manager or inspector any of these things, but being the person I am and liking control, I feel like I would try to get my hand into too many of those things. Whereas when you're remote again, you have to rely on the fuel.   You have to build a team. And so I think that's one of the advantages of going remote is you're required to build that team of professionals. The last one I want to touch on before I get on the floor is I think with remote investing, it's a lot less emotional and more about the numbers. I think when you go and view properties all the time in person, it's hard to ignore some of the blemishes that you bring to the property, right? You have some bias. You're like, Oh, would I live here? And with rental properties, especially for cashflow, that's not what matters. It's do the numbers make sense in a market that I like. And is this an area that I'm comfortable with? The risk it's not about is this somewhere I could see myself living. And I think if you're doing the local investing, you bring a lot of that emotion in looking at a lot of the properties you look at.   Michael: Wow. Tom, come back from those man.   Tom: I like it. I'm so confident. I'm going to slow roll a little bit. I'm actually just going to compliment a couple of your points before I stepped back and do the fade away three while kicking my leg out for you to run into it for me to get an extra free throw. So yeah.   Emil: Okay. James harden.   Tom: Okay. So to honor my comment there, I love the point about how it allows you to not kind of get in your own head and just be super data-driven about it, but okay. Onto the good stuff, I'm a good stuff. So investing local is definitely the way that you want to do it. So I think the first point that I'm going to make, which could be the most relevant is you're never going to know a market better than your own market. And me personally, I've been studying the market since I was about eight years old. I'd go to Safeway, I'd get the homes and land magazine. And I would just study comps. And I had this long trend of analysis. I know the different markets, different property types, how they're trending. Heck I even know the agents, right? The Kerses family out here, great agents. So you're going to know a market a lot better just from, you know, kind of hounding your local Zillow or Redfin or whatever. Basically the adult version of the homes and land magazine from the Safeway. All right. The next point is, man, what value is it to be able to touch and feel the house, you know, to go up to the house and touch the walls and kind of like smell it. You can't do that remotely. And one of the reasons people like investing in real estate is because it's a tangible asset. It's, it's something, you know, you're not buying some future of gasoline because the price of crude is low.   You know, it's an actual asset that some people actually use using by doing it remotely. You're kind of getting away from that. You're getting away from that touchy, feely wonderfulness of buying a house that you can actually see and walk into. And you know, you get out of the ethereal, if I steal a word from Michael here, it's a nice to the realleal, so, you know, you're being there. So that's number two is the tangibility of it, of actually being there, getting to go see it. It's pretty awesome. And lastly is you're not going to get taken advantage of, you know, doing things over the phone. You're going to have these quick talking sharks, selling you snake oil and all kinds of trouble. So I like to shake somebody's hand or I guess nowadays is you do an elbow bump of, you know, getting, if I'm going to do business with somebody, I'm going to want to get to know them.   I'm going to want to look them in the eye and touch elbows or whatever we do now with COVID and you can't do that in zoom. It's just super awkward. So there you go. That's why you want to invest locally.   Michael: So, Tom, what would you have to say to some of the meals points that he brought up?   Tom: All right. Let's do it so well, I, I quite agree with a lot of appeals points. I totally agree. I mean, I don't want to waste my, you know, momentum for when we switched sides of the argument, but there is a lot of limitations on only looking into your own area, but you know, just when we say local, that doesn't mean you have to do everything, you know, within five miles of your house, roll it out a little bit further, you know, go 30 miles go a couple hours. So we were talking before the episode where we were talking about our experience with local investing and I have done some stuff working for fun, not with my own money, doing local investing, but Michael has invested locally. I would consider, you know, within that three hour range that kind of counts as local. So to address that point about, you know, not being specific things in your area, you know, rollout the distance, the radius, spread it out a little bit further. You can still do things locally. You know, if you're uncomfortable going 2000 miles away go 200 miles away like within striking distance. So that would be my point number one.   The point number two, about being comfortable about using other folks is, you know, it's a muscle and if you're uncomfortable, you know, going a hundred percent building a team, that's okay. Just kind of pick points and spots and build that muscle of getting trust in getting good at letting go of things. And honestly, that's a big problem. I know for a lot of people, especially investors who are pretty generally pretty type a kind of go getters is to consciously make an effort of letting go of certain aspects of the business. So you can focus on where you have higher ROI.   Michael: I've got a question for you, both that you both kind of touched on Amelia, you mentioned that if you're going to invest remotely, that you can't go see the property and that that's difficult to do. And Tom, you mentioned, you know, being local, you're able to go touch and feel and see the property, but couldn't someone who's investing remotely still go touch and feel, see, and smell and taste. I think you included in there, the property,   Tom: If you're good, you will.   Emil: That's right. Always want to lick the walls before you sign those docs.   Michael: Check the lead based paint disclosure before licking the walls.   Emil: Correct. Actually, I think the right thing to do is to lick it, to make sure that there isn't lead.   Michael: That's right.   Tom: It's your tongue turns blue then…   Emil: Trust the verify.   Tom: No, you're totally right, Michael. I mean I've for some of the house that I've bought, I've seen them, but for most of them might have nod and what the ticket is, is having an inspector because honestly, if I go to the house and my ability to assess, you know, issues is not going to be better than an inspector who like does this professionally. So, you know, having the idea that, Oh, me going out there, I'm going to be able to do a better job than some inspector is a little bit of a stretch. So, you know, having confidence in the credentials and you know, where these inspectors are coming from, and then also looking at their homework. So like when an inspector goes and does an inspection on a house, they're filling out a super thorough report on what was identified. And that is including pictures and descriptions and as well as adding any followup items that are on there. So I'm not really sure where I'm arguing on this. I got, I got going, but you know, to the point, like I think it's, yo u know, going to see the property before buying it, you could totally do that. Even if it is remote, you know, there's no reason why you couldn't do it. And it makes you get comfortable to be able to get in the game. You know, that's an expense that you can use as a writeup. I'm not a tax professional, but for that in there,   Emil: Thank you, Tom, for further arguing my remote point but no, I think you're right. I think you can, like, let's say you put an offer on a property you're in escrow. You can go visit that property, put some eyes on it, make sure everything looks good. Yes. You know, I rely on pictures and video and things like that to like before the offer process. But I actually want to make that part of how I operate going forward. Obviously with COVID, it makes it a lot tougher, but the markets I invest in, I want to be visiting those more regularly. I haven't at all, but I want to be. And I think it makes a lot of sense if that makes you more comfortable go visit the property before you finish escrow.   Tom: Yeah. I think I personally kind of like Seesawed a little bit on like, you know, needing to be in the market where kind of when I was in it, I think it was really important to go and check it out, to go in the other way of seeing like, nah, you don't need to see it at all. I think it's been to find a happy balance. Like if you buy a property and it hits those check boxes that you're looking for with regards to population and schools and other kind of local dynamic economy, like great. I think it's some people need to be comfortable by taking a look at the market. Great. Go be comfortable and do that. Just know that, you know, there isn't necessarily a one size fits all answer.   Emil: Yep. And one last thing you mentioned being local, you know, your market way better than being a remote investor. I think that's true. I think that that'll always be the case you live there, you just, you know, what's happening. One thing I really trying to do though in the markets that I invest in is like get more ingrained in local news outside of just real estate. So I'll set up Google alerts and get the top things happening in that city to just like better understand what's going on. And I think this is where talking to your property manager regularly, again, visiting those markets regularly doing drive-through of different neighborhoods. It's just going to get you better and better at these different markets.   Michael: That's a really great point Emil. I'm going to piggyback off what Tom said. I always talk in the Academy with members about if going to the market is what's stopping you from investing then by all means go, but you'll have to kind of face the reality of everybody has personal biases and you're not going to be able to unsee undue, unexperienced, the things that you see and do and feel, and experience in that market for better or for worse. And so the ideal scenario is you pick a market that has good numbers, has good metrics and you go see the property and you love the property and you love the market, but that's not always the case. Just like you said Emil is that it doesn't necessarily matter how it makes you feel because you might not be living there. If the numbers make sense and the facts are there to support the market, it could still be a great investment independent of the fact of whether or not you enjoy it. And so if you go somewhere and think, wow, I would never live here. I don't want to invest here. Now we're mixing emotion into the decision making process, which can really be dangerous. And so if we can go with the guys of understanding that it doesn't really matter how I feel, if I feel great, that's kind of a cherry on top, but I should still be willing to invest. Even if it doesn't make me feel good. That's something to think about.   Tom: That's a great point. I mean, so much of this is an introspective exercise where it's like, okay, what do I need to do to know that, you know, I feel good about investing in this area. And I think it's a great point, Michael, that it comes to a point where you need to be a little bit just focused on the numbers. But if you know that you're going to need to kind of touch it and take a look just at the market in general, then there's no reason that you can't do that. And I like the happy balance of, you know, if there's a market, you know, going to take a look at the market and not necessarily, if there is a property to look at great, go look at a property, but you don't necessarily have to look at the one that you are investing in, but you have like a general kind of taste of the area. If that's something that's important to you, there's no reason why you can't do that. But to Michael's point, like at the end of the day, the numbers are really what carry the day trust in the process.   Emil: All of us kind of agree that the numbers, aren't the only thing that drive us, right? If it's like awesome cabaret cash on cash, but it's in a really rough neighborhood where we don't see that neighborhood turning around or whatever it is. I don't think any of us would invest there just because the numbers on paper look really good. There's a lot of other factors that we also take into account as well.   Michael: Yup, absolutely. Alright. This was really great. And I want you guys to flip flop, Tom, why is remote investing far superior than local investing in meal? You've got to defend because you got to go first, last time. So now Tom's on the offensive. Fight!   Tom: Emil, welcome to 2020. The world is your oyster. Get out of your little hole, get your head out of the sand, you Flamingo is that the animal does the…   Michael: Ostrich.   Tom: You're, you're being an ostrich. And you know, there's been some advents in technology that has allowed us to invest remotely. One of them is cloud computing that allows for you to have access to incredible amounts of data outside of your backyard. So cloud computing, that's one, the other is, uh, mobile phones. Uh, there's all kinds of cool technology that didn't exist before that Roofstock leverages and other, you know, potentially brokerages. Um, have you guys seen, have you heard of the 3d walkthrough? Right? So inside maps, Matterport, very cool companies that allow you to basically walk through the house as if you are there. Not only are you being more psychogenic, you're just working smarter, not harder. So you're able to check these houses out at a really in depth level without needing to go there. You're saving gas mileage. Think of, you know, you're being green, okay. Cloud computing, tons of data, cheap data on markets and evaluating other markets. Number two, mobile applications, mobile devices. And with that is the ability to have these really cool 3D walkthroughs to have a proliferation of inspections available. I know at Roofstock we use some cool mobile phones in using for our inspection capture leading to my third point, this ecosystem, right, that has developed around companies. So one such as Roofstock that basically does all the work ahead of time. All the benefits you would get from local investing in that, you know, being able to find these local partners, you can do really easily through platforms like Roofstock, which will connect you to all the partners that you need.   Be it insurance, be it in lenders. Now I'm not saying you can't use that same grit that you would be using locally, remotely. You should still apply that and apply it in a very diligent way, but all the drawbacks of doing it remotely that used to exist no longer exist, just because of the way the technology has advanced the way the cool companies like Roofstock has advanced. And the proof is in the pudding. I know just off the top of my head, I think there's been, you know, over over $10 million of transaction within the Roofstock Academy community, over $2 billion worth of transactions on the Roofstock community. So the proof is in the pudding. It's, you know, if you're not doing it right now, Emil, remotely investing you're behind. So, so get on the train.   Michael: Tom, what do you have to say about the interwebs, the online, the www online's making remote real estate investing easier?   Tom: Uh, you mean the connected tubes?   Michael: Yeah,   Tom: It honestly it shrinks the world. It's fantastic. And the big value points I think in there is just access to data. So being a data driven investor, I want to know what are some reputable sources for evaluating the local schools. I want to do a walk around on that block. Oh, wait a minute. I, can I go to Google maps and do a little walk around? That's fantastic. And honestly, again, you get a pretty good taste of, of being able to do it that way and getting the curb appeal and all of that good stuff. So the internet, I mean, it, it honestly would not be possible without it, but just as we've, since we've come so far since AOL and 56K modems or whatever, it's like, you know, on my phone, I could do a diligence on a property that honestly, the top private equity or top real estate investment companies could do it, it would cost them thousands and thousands of dollars to do on an individual property that I could do for free, just on my mobile phone while I am walking in my living room, in a local area. So the cost of doing the kind of diligence at an incredibly thorough level has gotten so cheap and so accessible. That there's just no question that remote investing is here and jump on board toot toot. Get on the train toot toot.   Michael: Alright Emil, you need some ice. Are you feeling okay? Are you ready to start swinging back?   Emil: I'm ready. You know what? I think Tom just convinced me to become a remote real estate investor. You opened my eyes. Michael: You didn't know this other world existed.   Emil: I had no idea about this, what podcast are we on?   Michael: Someone get this guy, a mobile phone.   Tom: Yeah get him a mobile device connected to the internet.   Michael: To the interwebs.   Emil: All right. I'm going to try not to rehash too much of what Tom mentioned. Hold on. Let me get my dog to shut up, one second. Zeke!!   Tom: So Mr. Michael Album, I hear you are doing some remote investing to the extreme. I've been following you on the Twitter world and yeah.   Michael: That's… No one should do that. That's a scary thing to hear.   Tom: Yeah. Doing remote in the United States is one thing, doing remote on the, across the Atlantic?   Emil: Portugal! Michael: Going very far East, stopping once I hit Europe, I'm actually currently investing in some properties in Portugal. There is something called the golden visa that I'm looking to take advantage of. And one of the ways to get a golden visa, which is basically permanent resident status, and then ultimately a passport after a five year period is by investment in the country. And so that can take the form of a few different ways. And so one of the options is investing in property. And so I'm looking to actually flip a property right now and then purchase a property for a long term buy and hold to get me access to that golden visa.   Emil: [sings] You go the golden visa, you got the golden visa. It's made up, it's fairy dust that someone sold Michael   Michael: And so you, Oh, that's right. That's right. Yeah. Speaking of buying snake oil.   Tom: Was this specifically for the golden visa.   Michael: It is, it is. So the returns are not anywhere near as attractive as what you can get in the States. And so the fact that you can buy an investment property and have it generate some kind of return is really a cherry on top. The real premise and the real Genesis is to get a golden visa and ultimately a second passport.   Tom: Wow.   Michael: So just being able to travel work, live, receive healthcare in the EU, any of the EU countries essentially for free. And so having the benefits of an, of an EU citizen and potentially be an EU citizen after five years.   Tom: Wow. So you would be a Portuguese and an American citizen. Yes. Very cool. Yup. Nobody knows any Portuguese out there that wouldn't mind tutoring me a little bit. I would love the help because I am pretty useless.   Tom: Portuguese is a difficult language. I went to Brazil for a little bit and Holy moly. I do not. Yeah. It was a…     Michael: It's so foreign and it's so fast.   Tom: Obrigado!   Michael: Yeah. Yeah. That's right. That's thank you for anybody listening. Nobody got it. Alright. Emil you're ready to punch back?   Emil: Alright. Knowing your market. I think that's a big advantage. If you're local, when things happen, you can go visit. That's another big one. The other three I wanted to mention are I think it's a lot easier to project manager rehabs. A lot of times when you're, you're doing a rehab or any type of any type of rehab from distance, you're trusting a lot of people project managing it. Isn't the easiest. Sometimes property managers will do it for you. It's a service they will provide. Sometimes they don't, but you're relying on pictures to kind of make sure each interval of the rehab process is happening. And a lot of times the little details are harder to see through pictures or anything, right. You want to make sure that it work is done right. And I think when you're local to be able to go and see the work that's being done, it's a huge advantage to make sure the little things weren't skipped or things that show up in picture that look okay, but you actually view it in person.   You know, the paint is splotchy or things like that. You can verify those things in person, much easier to do when you're local. The other one is this kind of ties into knowing your market, but where you live and where you are locally, you, you probably believe in that area. You probably believe in that economy. That's probably why you're there. You have a job, whatever it is when you're local, you probably have a sense that this area is going to do well for years to come. And you're trying to ride that wave of appreciation. Whereas when you're going remote harder to know all those things, you don't live there. You're not living and breathing and in that place and knowing what the local economy's doing. So I think when you're a local, you just have a better sense of is this place on the rise? I think most people live somewhere where you think things are going well. So that's another advantage to local, I would say. The last thing I talked about building a team, when you're remote, you have to build a team. I think when you're local, you build a team too. People will find your deals, property management, all those things. But the advantage of when you're local is you can actually go meet those people face to face, interview them a lot easier than when you're remote and you're just calling people. There's less of that personal connection. And I don't know when you meet people in person, you take them more seriously. They take you a little more seriously, not always, but I think it's actually easier to build a team when you're local. You do it for remote and local. And I think it's just easier to local. And that's it. Tom, go ahead.   Tom: Alright. Last couple of points I'll make on yours. You know, talking about investing in a market that you kind of believe in, you live in something we've learned over the last, I don't know, 30, 30, 40 years of investing is diversification is key. And a lot of people, their biggest investment that they make is going to be the house that they own and live in. And if you're making your biggest investment, obviously in an area that you live in, cause you live in it, why would you, you know, basically just double down on that same area, when you can diversify a little bit and put that money to work in an area that, you know, there might be some correlations with the economy because there generally is, but is subject to other upside and other kind of benefits. So being able to place your chips around. So instead of owning multiple houses in the same area that you live in already, where you have your biggest investment, the benefits of mixing it up and putting it into a different area, there's lots of value to diversifying that play.   Michael: Would you say Tom, that you would peanut butter spread the risk?   Tom: I love peanut butter spread. So my wife has started getting groceries from this place called Thrive Market and they have peanut butter in a spreadable packet. Pretty sweet.   Michael: Different than Justin's?   Tom: I don't know if it's Justin's I don't think it is, but anyways, it's not in a jar. It's like toothpaste packets. It's like toothpaste   Michael: Just on the go packs. Those things are great. Yeah.   Tom: I think I'm kind of violent about it. Cause I like burst a hole, like in the side. So peanut butter spread the risk, right? Just like spreadable peanut butter. You spread it apart. I guess the last kind of general point that isn't necessarily arguing to one way or the other remote or local investing is with all of this. It's not a one size fits all. I think all of us agree that, you know, while there is a little bit of unique requirements for investing remotely, ultimately the different types of returns it gives you access to and the diversification it gives you access to is it's worth that little bit of overhead. And as we mentioned before, then this episode, there's, there's different ways that people can get comfortable in different areas. For some people, they just get it right away and they can jump right in and invest.   And that's awesome. That's great. For some people they want to be a little bit more hands on and go and visit the area, perhaps even talk to property managers and that's okay too. Just kind of know where you sit and know what you need to do to get there either to move forward with an investment or to move on to some other type of investment. So I'd say as a theme in this podcast and real estate investing in general, have a bias for action of getting yourself into a position to either make the investments or to move on. Let's see the last little recurring theme that I think probably talk about every other episode is, as a remote investor, there really is no one as important as your property manager. So even if you're doing it locally too, and using professional property manager, your investment is gonna live and die by how well someone's going to be able to manage that for you and get, at least if you're not self managing and using professional property manager. So, you know, it doesn't matter if you're doing remotely or locally, but you know, especially if you're doing remotely, since you're not going to be able to visit the property that often do not sleep on the work that it takes to assess and qualify a property manager because you know, buying right can take you so far, but ultimately, you know, winning the operational metrics and keeping your overhead low is going to be on getting a good property manager. Who's going to keep that property occupied. So those are my final tidbits on it.   Emil: Well done. I know I don't get a rebuttal, but I thought those were all very strong.   Michael: I thought you both had strong points nicely done to you both. I'll share a little bit.   Tom: I'm excited for the Michael tidbits.   Michael: I was just going to share that I've done some, you alluded to it previously, Tom, but some quote unquote local investing. It was really, my first investment was down in Southern California, which we talked about on a previous episode, but I couldn't fathom investing remotely or out of state or really at much of a distance just because I was so green. So new to this space, you know, Roofstock wasn't around this whole education piece for a, Roofstock Academy wasn't around. And so that's all I knew. And so it was about three hour drive away from my grub. So it was semi local and I went and touched and toured a bunch of properties and met with my local agent who is a family friend who is also my property manager. So to Neil's point, we could touch a shake, hands, have visual rapport, physical rapport, which I'm kind of old school in that regard.   I would always prefer that. I think it's much more meaningful than the remote over zoom or over the telephone. And so I was able to be very hands on with that investment. And it's gone really well, given a long enough time horizon for anyone who listened to that first episode where it just like that property has been through several road bumps, several hiccups and speed. So the fact that it was local did not have any bearing on how difficult it was as a first property. It did not have any bearing on how bad or how sideways things could go. And that's been by far probably the worst experience I've had with any of my other investments. And so you can have good people and bad neighborhoods and bad people in good neighborhoods in local markets and at distance markets. So it's, you know, again, I think we said it before, it's not a one size fits all.   You just, every investor has to figure out what makes the most sense for them and Tom, you were just touching on it. I think if you need to baby, step your way into investing and start local or semi local, do it. If that's what it's going to take for you to start getting into the real estate investing arena, you know, start where it makes sense for you. Some people have no problem letting go of control and just doing it at a distance and setting up a team and kind of taking a back seat so to speak. But if that's not, you figure out how you operate as a person and figure out what's going to make the most sense for you. And then just go do it.   Emil: So for anyone who was curious about Michael's first deal, we covered that in episode 12, Here's What Our First Deal Looked Like and How They're Doing Today. That was the name of that episode. But I think, you know, the, the main theme, I'm glad you touched on that is there's people who are successful doing both right. There's people who are just local investors in expensive markets who are doing really well. People who just do remote investing, who are doing really, really well. And there's some people who do both, right. They do some local, some distance. And I think that's like the main thing we want to highlight. I don't think one is necessarily better than the other. It kind of just depends on your situation. And I think there's people doing well and doing both,   Michael: I think I want to just double down on that statement Emil. It is so dependent on who you are as a person and where you live. Because if someone's living in the Midwest right now, listening to this, so like I'm surrounded by deals. Why would I ever go remote when there's tons in my backyard, us being all Californians were, you know, semi-forced to go remote and you know, forced to go invest at a distance. So if that's not, you don't think that, Oh, I have to go invest remotely because of everything they talked about in the podcast, maybe, you know, our remote is your local, Oh, that's a trademark, Michael Albaum,  July 28, 2020.   Emil: Our remote is your local.   Michael: Yeah. So just go find where the deals make sense. I think is the one of the biggest takeaways because they could be read under your nose and you might not even know it because you're so focused on remote. I absolutely looked at local as a first opportunity semi found it and then how to go remote after the fact.   Michael: All right guys, I think that was a great rap battle for remote versus local investing. And before I let you guys go, I've got the question of the episode for you. Are you ready?   Tom: Let's do it.   Emil: Always. I'm rabbit, baby. I'm winning this rat battle.   Michael: What's your favorite breakfast cereal and why?   Tom: I'm ready.   Michael: Tom go. It's called Magic Spoon. It's not made with normal sugar. It's made from the sugar of raisins. So it's actually being promoted on a lot of podcasts. We're not being paid to promote magic spoon here. We have no affiliation with any royalties, but we're not opposed to it. And so magic spoon is basically children's cereal for adults. It is delicious. It doesn't have carbs. It's full of protein. What's great about not being, you know, I could just kind of say, say the good things about it and not necessarily have a check, a reference check on it, but it's, it's really good. Magic spoon, peanut butter. It's great raisin sugar.   Michael: So if it doesn't have carbs, like what is it like, what is it made of?   Emil: Fairy dust.   Tom: Magic spoon.   Emil: I've heard of that. It's expensive. It's not cheap.   Tom: I can't believe how expensive it is. Don't get me going on that.   Michael: There was this like frozen yogurt place that came out. I don't know. Maybe this is like going back 15, 20 years and kind of dating myself. But it's got like golden spoon, in Southern California, but I like the name gives you no indication of what the thing is. Like you would never think that's an ice cream place because it's called the golden spoon. Am I the only one that thinks that, sorry, golden spoon… If…   Tom: Spoons got range. Alright Emil, how about you, favorite cereal?   Emil: Does granola. It's like a granola cereal kind of thing. It's called Autumn's gold. I found it recently a Costco and it's like all nuts and cinnamon. So kind of same deal. It's paleo. No carb. I try to eat paleo during the week, at least. So that's probably like the only cereal these days I eat. But if we're, if we're aligning the clock, favorite cereal growing up, it's gotta be them Lucky charms, man.   Michael: They're always after me Lucky charms.   Tom: Are you a guy who eats non marshmallows until the very end? And then you just go all marshmallow.   Emil: Is there any other way to eat Lucky Charms?   Michael: I don't trust anybody that eats Lucky Charms any other way?   Emil: Yeah.   Tom: Yeah. And remember that like promotion. They are like, oops, we made a mistake and just marshmallows, man, that person on the factory line. What a moron!   Emil: Or a genius dude. He sold so many Lucky Charms boxes and he was promoted to like vice president.   Tom: VP of product.   Michael: That was like Playdo. Wasn't that? A mistake invented by mistake. So many of the greatest things.   Pierre: Sticky notes.   Tom: Sticky notes.   Michael: Yeah. There you go. Alright, Pierre, what's your favorite breakfast cereal? And please don't say like the last pizza episode. I don't like breakfast cereal.   Pierre: Well, okay. I don't eat breakfast cereal for breakfast. It's more of a dessert. If I'm going to eat cereal, it's going to be before bed.   Michael: I don't always eat breakfast cereal, but when I do it before bed.   Emil: I'm with Pierre man.   Tom: I like that tip. I like that take, unless it's magic spoon. Go ahead.   Pierre: Hmm. Chocolate granola, chocolate hazelnut granola.   Michael: Nice, particular brand?   Pierre: Oh man. It doesn't matter, really. I was raised on coupons, so whatever's on sale.   Tom: Michael, you got one?   Michael: You guys are all healthy. I'm like cocoa puffs fan. I like my milk, but I prefer it to be chocolate. So that's really all it is. It's just a vehicle to get more chocolate milk. I don't really care how it tastes.   Emil: That is true. Just gives you chocolate milk at the end.   Michael: That's right.   Tom: I had a roommate, shout out to Carson Mobly. His, uh, he had this quote about food is just a vehicle for sauce.   Michael: I've always felt that way about carrots and celery. It's just like, how do I get bar ranch into my mouth in a faster, more efficient way.     Tom: It's just a vehicle for sauce.   MIchael: That's great. All right, everybody. That was our episode. Thank you so much for listening. If you liked the episode, feel free to give us a rating or review wherever it is you listen to podcasts. Also feel free to subscribe so that you get the most up to date episodes automatically downloaded to your listening device. We look forward to seeing you on the next one. Happy investing!   Tom: Happy investing.   Emil: Very formal, happy investing.  

Tom & Michael discuss conscious leadership during COVID-19.One of Silicon Valley’s most renowned business advisors and coaches, Tom Eddington, works with some of the nation’s most influential CEOs and non-profit leaders, advising them on everything from global mergers and organizational change to conscious leadership and work/life integration.Internationally and multi-industry experienced Board Member, Advisor and business professional providing Board of Directors and Leadership with Organization Effectiveness expertise including assessment and development, Talent Management, Retreat Facilitation, and Executive Coaching services.Specialties: Conscious Leadership, Executive Coaching, Board and Leadership Effectiveness, Talent Management, Organization Growth, and Expansion  Website:  https://bit.ly/BLTomEddingtonYouTube:  https://www.youtube.com/watch?v=eMlzFomdf0E&feature=youtu.be 

Das Jahr geht zu Ende und wir haben uns die Zeit genommen einmal ausführlich über den neuesten und zugleich letzten Film der Skywalker-Saga zu sprechen! Am 18. Dezember 2019 erschien mit Star Wars: Der Aufstieg Skywalkers nach vier Jahren das Finale der Sequel-Trilogie, die wir auch am Ende unseres Podcasts einer kurzen Gesamtwürdigung unterziehen wollen. Für dieses Thema haben wir eine große Runde zusammengestellt, die in ihrer Bewertung des Films teilweise sehr unterschiedliche und konkurrierende Meinungen hat. Über drei Stunden reden Ines, Patricia, Kevin, Tom-Michael, Carl Georg und Tobias deshalb über die wichtigsten Wendepunkte im Film, die Bedeutung der Journey-to-Werke und nicht zuletzt auch über die Vision und Botschaft von Star Wars allgemein. Wir haben uns im Vorfeld dazu entschieden, dass es keinen spoilerfreien Teil geben wird, da die meisten unserer Zuhörer den Film mittlerweile gesehen haben dürften. Auch die von uns einbezogenen Journey-to-Werke werden zumindest teilweise inhaltlich besprochen. YouTubeRSS-Feed In eigener Sache: Seit unserem letzten JediCast zu Star Wars Jedi: Fallen Order sind nur drei Wochen vergangen und die meisten News bezogen sich in diesem Zeitraum auf den Release des Films. Deshalb haben wir sowohl die News, als auch die Zuletzt gelesen-Sektion diesmal zugunsten unserer persönlichen Highlights 2019 ausgelassen. Wer noch mehr über die persönlichen Highlights und Enttäuschungen des Teams erfahren möchte, kann auch bei unserem Jahresrückblick vorbeischauen. Wer direkt zum Hauptthema springen möchte, kann indes zu Minute neun vorspulen. Wer die im Podcast erwähnte Filmkritik von Ines und Patricia noch nicht gelesen hat, kann dies hier tun. Außerdem habe ich mich vor einigen Tagen bereits mit Janina über den Film unterhalten, da sie zum Zeitpunkt der Aufnahme leider keine Zeit hatte. Wer dies anhören will, kann es hier tun. Darüber hinaus präsentieren wir am Ende eines sehr erfolgreichen Jahres der Modernisierung unserer Website noch eine weitere Innovation: Den ISBN-Barcode-Scanner, mit dem ihr fortan unter jedi-bibliothek.de/scanner/ einfach die ISBN-Codes auf euren Büchern einscannen und Informationen aus unserer Datenbank erhalten könnt. Weitere Infos dazu findet ihr auch in unserem Blogpost. Ihr seid gefragt: Wie man unschwer im Internet erkennen kann, wird dieser Film erneut kontrovers gesehen. Auch in unserem Gespräch kamen diese Sichtweisen sehr deutlich zum Vorschein. Nun wollen wir eure Meinung zum Film wissen. Möchtet ihr noch etwas zu den von uns angesprochenen Themen ergänzen oder habt ihr ganz andere Punkte, die ihr gerne noch mitteilen wollt? Nutzt dazu gerne die Kommentare! Ausblick: Schon jetzt verheißt das kommende Jahr einen vollen Terminkalender für unsere Podcast-Aufnahmen. Mit der neuen Staffel von Star Wars: The Clone Wars, dem Deutschlandstart von The Mandalorian, als auch Romanen wie dem ersten Buch der neuen Thrawn-Trilogie oder dem noch geheimnisvollen Project Luminous, wird uns der Gesprächsstoff sicherlich nicht ausgehen! Ich bedanke mich bei allen, die unsere (teilweise sehr langen) Gespräche verfolgen und würde mich freuen, wenn ihr es im kommenden Jahr weiterhin tut. Bis dahin wünschen wir euch einen guten Rutsch ins neue Jahr(zehnt)! RSS-Feed JediCast RSS-Feed Ausgelesen RSS-Feed Ratssitzung

Tom Michael, Director of Athletics at Eastern Illinois, visits @TaiMBrown to discuss the type of environment that can lead to positive inflection points when hiring for an organization. Michael describes the small pieces that need to be in place for a new coaching hire to have a positive impact within athletics and in the campus community as a whole. He also discusses the tremendous influence his recent football hire, Adam Cushing, has had on other coaches on staff and the entirety of the department.

Guest host Tom Michael leads a round table discussion of the week's headlines with the region's top journalists. This week, Idaho Matters speaks with Kevin Richert of Idaho Education News, Mike Sharp of KIVI 6 on Your Side and Scott McIntosh of the Idaho Press.

Tom Michael, owner of the dearly departed Video Difference joins us with memories of Halifax's cinematic landmark. Then, former poet laureate Rebecca Thomas is here to talk Cornwallis. The Coast presents: 25 for 25. A year-by-year audio archive. Through the lens of the city's alt-weekly, editors Jacob Boon and Tara Thorne bring you the stories that shaped Halifax over the past quarter-century. The Coast Twitter: @TwitCoast The Coast (online) thecoast.ca Tara Thorne twitter: @thorneyhfx Jacob Boon twitter: @RWJBoon

Tom Michael was formally introduced as the 10th full-time athletic director in Eastern Illinois University history on July 22, 2014 and began his role on August 11.   He came to EIU after serving as the Senior Associate Athletic Director at the University of Illinois since 2012.  One of his final projects was overseeing the... The post Tom Michael Joins the Circuit of Success! appeared first on The Circuit of Success with Brett Gilliland.

We assemble our team of Idaho journalists to discuss the week's events in Boise, the Treasure Valley and beyond. This week we have Bill Manny of the Idaho Statesman, Betsy Russell of the Idaho Press and Kimberlee Kruesi of the Associated Press joining host Tom Michael.

We assemble our team of Idaho journalists to discuss the week's events in Boise, the Treasure Valley and beyond. This week we have Bill Manny of the Idaho Statesman, Betsy Russell of the Idaho Press-Tribune and Kevin Richert of Idaho Education News join host Tom Michael.

Gemma Gaudette discusses the concept and mission of Boise State Public Radio's new daily news program with the station's GM, Tom Michael.

We’re talking with Tom Michael, tattooer at 510 Expert Tattoo in Charlotte, about getting a tattoo. Cheers Charlotte always brings you interviews from top leading experts and this is no exception. Tom has honed the art of tattooing. Listen in as we discuss how to choose a tattooer, the art and what to expect. The post Episode 204- Tattoos appeared first on Cheers Charlotte Radio | Craft Beer and Homebrew Podcast.

For over 4 decades, Rich Daniels and his orchestra have been featured together with a long and distinguished list of music greats including Ray Charles, Mel Torme, Burt Bacharach, Dionne Warwick, The Four Topps, Smokey Robinson, Frankie Laine and many more. Daniels has been touring recently with the Jerry Garcia Symphonic Celebration and has been engaged with the hit TV series “Empire” for the past four years. Daniels joined the conversation on November 2nd to talk about his career and upcoming Auditorium show on November 17th for ELLA & LENA: The Ladies and Their Music, a centennial concert celebration of Ella Fitzgerald and Lena Horne. Chicago vocalist and producer Joan Curto will be joined by many of Chicago’s top artists including E. Faye Butler, Beckie Menzie, Tammy McCann, Paul Marinaro, Tom Michael and Sophie Grimm with Daniels’ 17-piece orchestra featuring songs from the Great American Songbook. Season 2 Episode 29. Originally published November 9, 2017.

Tom Michael Part 2In part two of our podcast with guest Tom Michael, we discuss Larrimor's Big Idea. Tom tells us their main objective every day is to "make people feel good about themselves." They focus on providing high touch retail experiences for customers. Tom tells us about his successes with Larrimor's Youtube page. Video has helped them with messaging to their customers.A second tool has helped Tom and the team at Larrimor's with online marketing called SEMrush. He also speaks of a strong omni-channel approach to selling at Larrimor's which has helped them adapt to the current customer base.About TomTom Michael is Chief Executive Officer of Larrimor's Pittsburgh. Tom is an accomplished executive who started at Larrimor's as CFO 20 years ago and has been CEO of Pittsburgh's premier family owned clothier since 2012.Connect with Tom on LinkedIn.Beautiful Destinations Hits the BullseyeBeautiful Destinations is a travel themed Instagram page launched in 2012 by Jeremy and Tom Jauncey. The brothers grew their account to over 8 million followers in less than five years and grew their business by attracting customers in the travel industry who want to reach Beautiful Destinations followers.Beautiful Destinations moves social media interactions closer to actual transactions. Their clients can better leverage Instagram and more clearly see their Marketing ROI.The NoBS Show is brought to you by audible.com. Get a FREE audiobook download and 30-day free trial at www.audibletrial.com/NoBS. Try a book like Pre-Suasion: Channeling Attention for Change by Robert Cialdini. You can download it for free today!

Business CasualBusiness Casual doesn't have a clear, universal definition which leaves it open to individual interpretation. This leads to complaints and frustrations by other employees and managers, followed by formal communication in the form of a standardized policy.Message clarity is critical to successes in any endeavor. The term Business Casual is just one more example of how hard it is to reach key target audiences with a clear story.Tom Michael Part 1Tom takes us through his early years where finance was his first start. He worked in NYC at a hedge fund before leaving and starting his journey as an entrepreneur selling gourmet cheese spreads.  He tells Dave of his mentors which have helped lead and teach him along the way including achieving the rank of Eagle Scout through the Boy Scouts of America program. The former owner of Larrimor's Carl Slesinger also tops the list and the Institute For Entrepreneurial Excellence at the University Of Pittsburgh where Tom recommends finding a mentor through the program.Tom's biggest learning experience came while learning how to become a great communicator. He tells Dave of the early years of being an entrepreneur when he used to "yell all of the time!". Learning this lesson and transitioning into a calm communicator has helped him to become a better leader.About TomTom Michael is Chief Executive Officer of Larrimor's Pittsburgh. Tom is an accomplished executive who started at Larrimor's as CFO 20 years ago and has been CEO of Pittsburgh's premier family owned clothier since 2012.Connect with Tom on LinkedIn.The NoBS Show is brought to you by audible.com. Get a FREE audiobook download and 330-dayfree trial at www.audibletrial.com/NoBS. Try a book like Pre-Suasion: Channeling Attention for Change by Robert Cialdini. You can download it for free today!

Part II with Eastern Illinois AD, Tom Michael, covers a number of Men's Basketball angles including; the aspects of coaching strategy he monitors during the action, the usefulness of technical fouls assessed to head coaches, how he balances his own high-level playing career when interacting with Panthers' coach, Jay Spoonhour, plus more. 

In today's 1.Q, Eastern Illinois AD Tom Michael discusses navigating funding challenges and MBB scheduling dynamics including balancing the number of home vs. away games. 

Gary and Roscoe are pleased and excited to welcome cabaret artist Beckie Menzie to Booth One this week. Beckie is an award-winning performer, teacher, song writer, musical director and vocal coach, a staple of the Windy City music scene, and nationally recognized as one of the country's finest cabaret entertainers. Along with her musical partner Tom Michael, they have been called, "Sizzling...immensely appealing...one of the most compelling duos in cabaret today!" Beckie is from Pierceton, IN, but a Chicago girl through and through. She learned piano at an early age and fell in love with music and the performing arts while hanging around the Wagon Wheel Theatre in Warsaw, IN. She has performed at some of the nation's top clubs, theaters, concert halls, outdoor venues, and cabaret rooms. She most recently appeared at Carnegie Hall and the Auditorium Theatre. We play a few song excerpts throughout the podcast to give you a taste of her talent, style and singular musical gifts. Beckie and the boys chat about cabaret performers Michael Feinstein, Barbara Cook, Karen Mason, Sally Mayes, Julie Wilson, Bette Midler, Bernadette Peters, Marilyn Maye and Barbra Streisand. (Just to drop a few names!) We discuss Laura Benanti's latest show at the Cafe Carlyle in New York and the stellar reviews she received. Gary gives a shout out to the Therapy Players, Chicago's premier all-psychotherapist comedy improvisation troupe! Seems they're holding auditions looking for a few new recruits. If you or someone you love is mental health professional, check them out at www.therapyplayers.com. In addition to performing steadily with Tom, Beckie is also a vocal coach and teacher, has recently become engaged, and sings with Laura Freeman & Marianne Murphy Orland in a group called Girls Like Us. They'll be performing their new show Barbra, Bette and Bernadette at Chicago's famed Davenport's nightclub on November 19 & 20. Go here for more info and tickets. Beckie's various musical ventures are part of her BeMe Music empire. If you like The Golden Girls like we do, you'll LOVE the new action figures from Funko. Retirees Dorothy, Blanche, Rose and Sophia are posable vinyl figures 3.75 inches tall and ready for action! The four-figure set costs $25 and is only available from participating Target stores and New York Comic Con. Run, don't walk, to your nearest Target for holiday shopping magic. There's nothing like a country and western song title to bring a smile - and an occasional grimace - to your face. Gary cycles through the Best of the Worst Country-Western Song Titles of all time. Here's one - She Got the Gold Mine and I Got the Shaft. Beckie tells us about the country song she once wrote and one that she intends to. Roscoe inquires whether anyone can be taught how to sing, in an apparent attempt to jump start a cabaret career of his own. Beckie responds as only a true vocal/performance coach can. Don't worry, folks. Roscoe and I are probably not leaving the Booth One podcast for vocalist fame and fortune anytime soon! Chat Pack, anyone? We play a few rounds of our favorite conversational party game with Beckie. Kiss of Death: Jean Shepard, Female Country Voice with Muscle and Ambition. A mainstay of the Grand Ole Opry for more than 60 years, Ms. Shepard blazed the Country Music trail for other female singers like Loretta Lynn, Patsy Cline and Tammy Wynette. She brought a freewheeling, cheeky style to the eternal themes of heartache, cheating and marital discord, planting the flag for independent women. In the early 1950's, Ms. Shepard had hits with "The Root of All Evil (Is a Man)", "Many Happy Hangovers to You" and "Twice the Lovin' (in Half the Time)". She was small but her voice was powerful, pure and penetrating. She was also an expert yodeler. Ms. Shepard was an ardent champion of traditional country music throughout her lifetime. She was 82. Read Obit.            

Grammy-winning jazz vocalist Kurt Elling  sits down with Gary to discuss a broad range of topics.  With Roscoe at Cinecon, Gary flies solo in this one-on-one interview session. Learn more about Kurt in this bio from a recent concert and at KurtElling.com Gary gives a little background on his friendship with Kurt. One highlight was when Kurt sang the first dance at Gary and Betsy's wedding reception almost 10 years ago. Gary requested the classic 1952 song, That's All,  written  by Allen Brandt & Bob Haymes. First sung by Nat King Cole in 1957, it has been covered by an amazing group of artists such as Frank Sinatra, Mel Torme and Judy Garland. See list. Here is Kurt singing with his then 3-week old daughter Luiza, accompanied by the magnificent Becky Menzie. (Beckie and Tom Michael also sang many favorites at our very musical reception.) Thanks to our friend and audio engineer extraordinaire, John, we are lucky enough to have a recording from that day. Gary asked Kurt if we could share it on the show and he generously agreed. So look for his gorgeous rendition of That's All at the end of the episode! Not to be missed. Kurt talks about his newest CD release Passion World, the inspirations behind the creation of the album and the sources of his song selections. Kurt's aim is to share some of the world's greatest sounds and greatest songs. He also wanted to involve musician friends who inspire him from all over the world, such as French accordionist, Richard Galliano. He talks about the unusual way this CD was recorded in various venues. Gary says this is his all-time favorite Kurt Elling CD.  Learn More about Passion World Kurt talks about his most favorite world destinations. He says that one of them, Holland "is a jazz country." He says he's considered to be very amusing by the Dutch. We think he's pretty funny too.  Check out the North Sea Jazz Festival in Holland Kurt discusses his early training in theology and the role spirituality plays in his work. He gives us some fascinating background on the nature and history of Jazz, explaining how it is actually composition in real time. Read more about jazz here. He talks about scatting and the way improvisation works in Jazz.  Ella Fitgerald & Mel Torme scatting at the Grammy Awards. We ask Kurt about his most memorable theatrical experiences, including a recent encounter with Broadway's Something Rotten, starring friend of the show, Brian D'Arcy James read more.  Kurt reveals that he is at work on a theatre piece based on the life of legendary crooner - and later comedian - Joe E. Lewis read more, who was a fixture at Kurt's long-time home club, the Green Mill Cocktail Lounge Wiki Link. This is a project we can't wait to see come to fruition! We will keep you posted on its progress. We play a little Chat Pack and learn more about the man behind the music. Gary invites Kurt to move back home to Chicago soon. They talk about his magnificent concert with the Grant Park Symphony Orchestra on August 12. He played to a capacity crowd in Millennium Park on a a perfect Chicago summer night. Gary tells us about another of his favorite restaurants, The Gage, and our upcoming drawing for a $100 Gift Card. Sign up for our AList@booth-one.com for your chance to win. The drawing will be held on October 15 with the winner announced on our website. Kiss of Death: Frances Kroll Ring - Secretary to F. Scott Fitzgerald during his final years while writing The Last Tycoon.  Read the full obit from the L.A. Times    

To get a better handle on the issues with breaking into SAP in today's market, I had the chance to tape a unique podcast with Tom Michael of Michael Management. The podcast includes two "students" from Michael Management's Pay it Forward SAP Training Program (PDF), which sponsored SAP training for five job seekers to help them move into SAP during a challenging SAP job market. We begin the podcast with Tom posing some questions to me about breaking into SAP in today's market. Then we enter into a free flowing discussion, with Tom and I taking any and all questions from the two aspiring SAP professionals who joined us on the call and shared their stories with us.

In the first podcast in the JonERP.com "All About SAP Training" series, Jon Reed asks Tom Michael of Michael Management  about the state of SAP training and the range of training and certification options available to SAP professionals. The podcast begins with an overview of Tom Michael's background and his role with Michael Management's SAP training and consulting practice. In addition to Michael Management's consulting work in Asset Management, Project Systems, Investment Management, and related areas, Michael Management has become one of the largest online SAP training sites today. As Tom explains, this was an organic process where clients asked Michael Management about the training side of their implementations and Michael Management began rolling out more and more online SAP training courses. In this first podcast in their "All About SAP Training Series," Jon and Tom dive into the hot topic of breaking into SAP. Michael reviews some of the free options available online, such as SAP's own help documentation which covers basic functionality. Then there are useful SAP books that can further the education process on an affordable basis. But documentation can only take you so far, so what are the other options?  

In the second podcast in the JonERP.com "All About SAP Training" series, Jon Reed asks Tom Michael of Michael Management  about the state of SAP training and the range of training and certification options available to SAP professionals. Picking up where the last podcast on SAP training left off, Jon and Tom jump right into the topic of SAP online training: - Tom goes back to the beginning: 2-3 years ago, Tom began to get more and more requests for online SAP training. In the past, there were very few options, and while sending folks to the SAP Academy can be very effective, it's not always an affordable option when you are continuously tweaking people's job roles. Meanwhile, the project documentation is useful to a degree but is not really the perfect training tool ("you can't learn SAP from a few screen prints and a PowerPoint presentation.")