Millennial Real Estate Investor

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Latest Episodes:

Where Have We Been - Quick Update Jun 04, 2021

A quick update about the show, where we've been and what to expect.

116: Understanding Real Estate Note Investing with Kevin Galang Feb 26, 2021

Love is a funny thing sometimes. Kevin Galang discovered the wealth-generating power of real estate investing thanks to his girlfriend. Growing up, Kevin was brought up with the mindset of growing your income, while his girlfriend believed in growing your income stream. Kevin believed in investing in a 401(k) for retirement, and his girlfriend believed in investing in real estate for cash flow. They set aside their differences and Kevin figured he’d give real estate an open consideration and look into it. Can you guess how he thought about finances afterwards?

After months of learning and networking, Kevin jumped into note investing, doing three deals right off the bat. And while at the time it felt as if investing in notes was going against the current, Kevin knew his strengths as well as the benefits to know that he was going in the right direction. He stuck with it and the results speak for themselves.

Up to date, Kevin educates others about the nitty-gritty of real estate note investing, as well as other types of investments, in his podcasts Tech Guys Who Invest and Note Nuggets.

Takeaways from our conversation with Kevin: 1) What is a real estate note? In essence, it is a promissory note in which the borrower promises to pay back a specified loan to the lender (in this case being a mortgage on a property). In other words, when you invest in a note, you are acquiring existing debt and acting as the bank, using the property (or otherwise) as collateral should the lending terms be broken or become non-performing.

2) Why invest in notes? As Kevin explains, the largest (and most obvious) benefit is the ability to essentially own real estate without being the attached landlord to any given property. That means that you still earn a return (through cash flow and/or recapitalization), but don’t necessarily have to handle the day-to-day operations like renovations, evictions, or leasing.

3) What are the advantages in notes? For one thing, you can get really creative with how you invest in notes. For example, you can buy in bulk or you can buy in shares. The other thing, Kevin mentions, are the multitude of exit strategies available at your disposal should a note become void or non-performing. You have the choice to create a solution with the borrower directly, you can eliminate the borrower from the investment, or you can part ways with the investment yourself, all of which could be winning solutions if done properly.

4) How do I get started? Kevin talks about how note investing is generally thought of as an “old person’s game.” He explains while it may be true to an extent, you don’t have to invest in notes the traditional way. So while it may carry more risk, with only a few thousand dollars, you can gain a secondary or (even) tertiary position, or even become a partial note holder. Or say you have more capital available in an IRA, that can also be a source of income to then originate or purchase a primary-position note. Either way, as per Kevin, go learn and network as you get started.

If Kevin could go back and talk to his 16 year old self, he’d tell him, “Read Rich Dad Poor Dad sooner because it would challenge the way [you think] about creating financial success.”

An unexpected benefit of real estate investing, Kevin said, is the ability to endlessly learn new things and learn with a purpose simultaneously.

A piece of advice Kevin would tell his friends looking to get started in real estate would be to know what you want to do, know how much you’re willing to dedicate, and double down on what you’re good at.

Kevin recommends using a HP 10bII Financial Calculator to help you analyze deals on the fly, as well as Google Drive to have a centralized place to store important business information.

Kevin recommends reading How To Win Friends and Influence People by Dale Carnegie to learn the foundation of talking to people and how to build better relationships with others.

If you’d like to get in touch with Kevin, visit: tgwipodcast.com and info.notenuggets.com/home

115: House Hacking in an Expensive Market with Avery Heilbron Feb 19, 2021

As a Canadian native, Avery Heilbron immigrated to America to pursue soccer at the collegiate level. He found himself working a W2 job in Boston, Massachusetts. Through various books (not Rich Dad Poor Dad for once!) and BiggerPockets, he discovered real estate investing. He also began networking with other local real estate investors and closed on his first property in early 2019.

Avery attributes his rather quick (and successful) start in real estate to his learn-and-take-action personality. He genuinely enjoys learning and is not one to sit around waiting for things to happen.

Up to date, Avery is House Hacking and owns two multi-family properties. He coaches other individuals looking to get started investing in real estate, as well as prospects for other larger-scaled real estate investors with the intention to find deals for them and continue his own education with their help.

Takeaways from our conversation with Avery: 1) Finding the right agent. This was a vital part of Avery’s success in securing his first deal. While taken aback at first at the thought of seeing properties not long after meeting his agent, this agent was willing to take the time to educate Avery every step of the way and move at a pace Avery was comfortable going in. So while you don’t necessarily need an agent who invests nor should you exploit one without compensation, take the time to find an agent who is a good fit or ask around for someone who can help you get the job done.

2) Section 8 comparables. While many may suggest you stray away from this demographic of renters, the truth is these individuals in this tenant pool exist. As Avery notes, one thing to keep in mind when figuring rents for these units is how the Housing Authority determines what is “fair.” Their criteria is different from traditional means of finding comparable units. There’s less emphasis on the glitz and glamour and more focus on the amount of bedrooms and zip code. This can be beneficial to know when it comes time to increasing rent or putting in new Section 8 tenants.

3) Don’t get too friendly with your tenants and screen prospects thoroughly. Especially when House Hacking, you carry the title of landlord, property manager, and next-door neighbor. While you want to maintain a good and professional business relationship with your tenants, Avery suggests not turning your renters into friends. Avery would decline social invitations from his tenants and eventually they caught on. This is done not only to protect your emotions, but also your investment.

4) “Due” your diligence. As Avery explains, when purchasing multi-family properties with (or without) inherited tenants, you have to be thorough in your research about the property. While not encouraged, it’s not uncommon for sellers to lie about rents, expenses, and condition. The seller’s motive is to unload their property so it’s your responsibility to know what you’re buying.

If Avery could go back and talk to his 16 year old self, he’d tell him, “Two things… The first would be to just enjoy school and learning and all the experiences because it doesn't last forever. The second would be to stretch more…”

Two unexpected benefits of real estate investing, Avery said, is the fact that his girlfriend is all-in about real estate and personal finance like himself, as well as the opportunity to grow wealth at a higher scale since he invests in a more expensive market.

A piece of advice Avery would tell his friends looking to get started in real estate would be to make sure to take focused action while you learn and not get swayed in all the different directions you can go in real estate.

Avery recommends using Cozy to help you with your rent collections and other property management needs.

Avery recommends reading Set For Life: Dominate Life, Money and the American Dream by Scott Trench as its message resonates a lot with Avery’s philosophy and the same could be set for you!

Honorable mention: Retire on Real Estate: Building Rental Income for a Safe and Secure Retirement by Kai Anderson.

If you’d like to get in touch with Avery, find him on LinkedIn and BiggerPockets, follow him on Instagram @_averyheilbron, or visit: realworldfaf.com/contact

114: Apartment Syndications While Working a W-2 with Adam Ulery Feb 04, 2021

Sometimes all we need is a little push in a different direction for it to have the biggest ripple effect in our lives. In the case of Adam Ulery, this metaphorical push came in the form of a book recommendation over a coffee break at work. Adam figured it couldn’t hurt so he gave Rich Dad Poor Dad a shot and, as he put it, “became a fiend for information.”

Like many others, he gobbled up as much knowledge he could about finance and investing and ultimately fell into real estate and stuck with it. While those initial stages were tough for him due to his mental roadblocks, with the right guidance and action, he was able to preserve and open up his life to abundance.

Up to date, Adam is the Head of Investor Relations for Dreamstone (a real estate syndication company) and hosts the Tech Guys Who Invest Podcast all while still working a full time W-2 IT job. Collectively, Dreamstone has a goal of owning 5,000 units by the end of 2021. Adam plans on continuing his stride towards wealth to be able to help more people along the way.

Takeaways from our conversation with Adam: 1) Listen to competent advice. While it might be more expensive in cash value up front to pay for the opinion of an expert, you’ll be rewarded tenfold later down the road. In other words, it’s cheaper to do something correctly the first time than to do it the inexpensive way and have to do it again. So when it comes to legal, financial, mental, or structural advice, this is capital well invested. And keep in mind, sometimes you’re going to need the same advice from different people depending on your level and goals.

2) Overcome your limiting beliefs. It all begins with mindset. Adam can vouch this was true for him. Even with his excitement and eagerness to do his first deal, those raw emotions alone weren’t enough for him to overcome his negative attitude. He first had to address his doubts and adjust his thinking about his ability to succeed. Once he was able to do that, he was no longer his own biggest hindrance, but rather his own biggest advocate. He went from fearing a single family property to purchasing over a hundred units at once.

3) The process remains consistent. Adam was a bit taken aback when he first decided to venture into apartment syndications. He was overwhelmed by the work needed to be able to scale at the level he desired. But then he realized something. Even though there were more moving pieces, the end product remains wholly the same. Adam realized that he still needed to learn about the investment type, he needed to pool together enough capital, he needed to find the right deal, and he needed to manage his investment. A duplex is not that different from a 10-unit building. And a 10-unit building isn’t that much different than a 100-unit apartment. It’s a larger scale, sure, but the process remains consistent.

4) Select a property manager with experience in your specific asset class. Similar to point #1 above, you also need competent people to do work on your deals. Competent advice is only half of the battle. The other half involves actually finding the correct employees or partners to fulfill your needs. Not any property manager can manage any type/class of property. Find a specific property (or project) manager that fits your means and can accomplish your needs.

If Adam could go back and talk to his 16 year old self, he’d tell him, “Don’t limit yourself… Choose what you love to do and focus on that. Take action, move forward.”

An unexpected benefit of real estate investing, Adam said, is his growth thus far as a person, all things mentally, emotionally, and otherwise.

A piece of advice Adam would tell his friends looking to get started in real estate would be to get educated. Start listening to podcasts, read books, and start talking to people who are already doing what you want to do.

Adam recommends using Waze to help you navigate your way around town to be more efficient and save time (to do more deals!).

Adam recommends reading Killing Sacred Cows: Overcoming the Financial Myths that are Destroying Your Prosperity by Garrett B. Gunderson and Stephen Palmer to help you break free from traditional financial principles imposed by the working class and on the fast track to financial freedom.

If you’d like to get in touch with Adam, find him on LinkedIn, email him at adam@dreamstoneinvest.com, or visit: www.tgwipodcast.com.

113: Combating Homelessness Through Commercial Developments with Logan Freeman Jan 14, 2021

Based out of Kansas City, Missouri, Logan Freeman joins us this week to share his story on how he went from owning less than 40 units after a few years, to in a span of 8 months, owning over 500 units!

Logan focuses on commercial developments and master leasing these buildings (meaning one lease for multiple units/properties between tenant and owner) to non-profit homeless organizations such as reStart. These partnerships help to rehabilitate individuals who have fallen into homelessness and get them back on their feet and a part of society once again.

Up to date, Logan’s goal is to continue to live out his passion in providing affordable housing for people who are in need, as well as continue to work to stay profitable. He wants to educate others about alternative investments within real estate, and show them the different niches available that wealthy people have been utilizing for generations now that these investments are becoming common practice and readily accessible.

Takeaways from our conversation with Logan: 1) Realize what your roadblocks are. One common problem successful investors run into is succeeding too much too soon. By all means, if you have goals to build a scalable business and want to build a large operation, do it. Along the way, just keep your attention open to weak points within the business structure. As Logan explains in his failed deal that cost him $200K, it wasn’t the deal itself that was bad. He knew that deal to be a great one! It was he, himself who was holding that deal back. He got overconfident, wore too many hats, and lacked the experience required to pull off the deal successfully. So as he notes, figure out the different jobs and roles within a deal (or business) and assign the right people to those roles. By doing so, you’ll get more done and get along further.

2) Swallow your pride. Going back to that failed deal that cost Logan $200K, he explains that he didn’t have to pay out that cash. There was nothing legally binding that required him to do that. But for Logan, it was bigger than the law and the cash. It was his reputation and moral conscience at stake. As Logan explains, when you do the wrong thing, your negative reputation spreads like wildfire. So when put in that perspective, that monetary value diminished. He fessed up to his mistake, got out of the way, and in doing so, learned a valuable lesson. Take ownership of your actions, be the buck, and move on.

3) “Doing well by doing good.” This is the mantra that Logan uses for his business. This is what led him to real estate. This is what led him to non-profit work. And this is what led him to teaching others how to succeed in business. Logans explains it well—on one hand, yes, business is business and the objective is to turn a profit. On the other hand, however, that doesn't mean you can’t make money by making the world a better place—by doing something that’s greater than profit alone. So whether you want to be a mom-and-pop landlord or a world-wide real estate corporation, don’t forget (or take for granted) the power and responsibility you hold for communities and individuals with each property.

4) Go out and play the game. The more successful you are, the easier it becomes to achieve success. Common reasons for that is because of experience, network, and opportunities. Just like physical momentum, success builds on another. The hardest part is getting that first push to move. Logan mentions that he’s had the great fortune to be able to work on his life passion and serve people through his business. And while a lot of that is attributed to connections with other people, the results are not achieved by accident. The results stem from methodical and intentional plans and action. You can either sit on the sidelines and wait for the perfect opportunity, or you can create those opportunities yourself. We suggest the latter. And combine that with persistence, magic happens.

If Logan could go back and talk to his 16 year old self, he’d tell him, “Be open to everything and attached to nothing.”

An unexpected benefit of real estate investing, Logan said, is the excitement he gets that comes from making a positive impact on the world, as well as being pushed by his business to become a better and better version of himself.

A piece of advice Logan would tell his friends looking to get started in real estate would be to first ask them if they want to be an “active” or “passive” investor. From there, it’s a matter of laying out the steps and groundwork to get to your goals.

Logan recommends using gTasks and Monday to help you stay productive, organized, and on track.

Logan recommends reading The ONE Thing by Gary Keller and Jay Papasan as it helped give him clarity in his life, and he believes it can do the same for you.

Honorable mentions: The 10X Rule: The Only Difference Between Success and Failure by Grant Cardone

Extreme Ownership: How U.S. Navy SEALs Lead and Win by Jocko Willink and Leif Babi

Influencer: The Power to Change Anything by Joseph Grenny

If you’d like to get in touch with Logan, find him on LinkedIn, or visit: www.livefreeinvestments.com

112: Owning a Fourplex After One Month of Education with Ben Mizes Jan 07, 2021

It all started when Ben Mizes took on a sales job with a startup selling a platform for real estate investors in the single family business. And because he had to know at least some things about real estate, he was told to learn about investing. So being the obsessive guy that he is, he consumed all things real estate for a few weeks and hasn’t looked back since. At the time, Ben was in the market for a new place to live in anyway, and he had just heard about this great idea called House Hacking, so he figured if he needs a place to live, that he might as well live for free. Shortly thereafter, he went from owning zero assets to being a landlord of a four unit property. Within a couple of years, Ben had built up a portfolio of 22 units. Up to date, Ben is the CEO of Clever, a real estate tech company and on his way to financial freedom. Along with growing his own portfolio of units, he has the goal of being the largest integrated real estate company in St. Louis in his mission to transform his community. Takeaways from our conversation with Ben: 1) Understand the agreement, use your own contract, abide by the terms. Ben studied at the school of hard knocks during his first experience working with a contractor. He hired the only guy within his budget willing to do a major HVAC job and upon discovery of unsafe working conditions, did the right thing and fired that contractor immediately. However, the drama would continue as the contractor would then file a lien on the property, falsely advertise the property for sale (might we add multiple times), and (suspectedly) even rob the HVAC unit he was hired to install! Had Ben used his own contract and had someone tell him how to better protect himself legally, he could’ve saved thousands of dollars. But with all things, it was a great lesson learned, and an equally great story at that.

2) Homebuyers are buying a product, investors are buying a problem (and this is where the opportunities are). Such problems can be physically the property itself, the tenants living at the property, and sometimes, even the owner and managers of that property. When in the business of purchasing value-add real estate, you’re adding value where others feel it is not worth to them. If you can get creative enough to find solutions to these folks, you’ll never be short of great deals.

3) Build trust. Reality check: Not all homeowners are the most knowledgeable about real estate. In a similar token, not all real estate businesspeople are the easiest to trust in the business! Seek to understand who and what kind of person you’re working with and use that so you both can mutually benefit from that relationship. When seeking his second deal, Ben found the largest fourplex in the area, but the seller would not budge due to her mistrust of Realtors and other investors looking to prey off of her ncompetence. So instead of shoving profits down her throat, they took the time to educate her on their plans and were fully transparent throughout the entire buying/selling process. In doing so, they were able to build enough trust with one another and secure a great deal! 4) “The goal [for your first deal] is to not lose money and learn.” Just jump in. You don’t have to be ultra risk-averse or some adrenaline junky to get started quickly. If you happen to have a low tolerance to risk, that’s okay! What you can do is find a way to insulate yourself financially, learn the basics, and just roll with the punches. In doing so, you’ll actually learn faster and more than you would not doing anything at all. Take Ben, for example. Even with just a month of consuming real estate knowledge, he was able to get his first property under contract because he knew that even if the deal fell apart completely, the worst that could happen was that he’d have to cover the mortgage out of pocket (which he could) or sell. And while he made mistakes, there was none that he couldn’t handle and correct along the way. If Ben could go back and talk to his 16 year old self, he’d tell him, “Smoke less weed, and focus more on reading.” An unexpected benefit of real estate investing, Ben said, is the control he has over his asset. While he hasn’t yet met his ultimate goal of financial freedom at the time of our conversation, he dividends knowing that his investments will get him rich slowly as opposed to other more insecure alleys. A piece of advice Ben would tell his friends looking to get started in real estate would be to “Start modeling properties.” Get good at looking at properties, running numbers, and calculating what the potential net could look like in the end. Oh, and ”Expect to get your teeth kicked in a bit.” Ben recommends using Google Sheets as a simple method to learning how to run numbers on deals. Honorable mentions: Asana to help you manage your team. Clever to help you get connected with top agents in your market at a fraction of the cost. Ben recommends reading The Book on Rental Property Investing by Brandon Turner to help you learn the overall basics of real estate investing and fastrack you to your first property. If you’d like to get in touch with Ben, visit: benmizes.com or email him at: ben@movewithclever.com

111: Transitioning from Single Family Flips to Commercial Rentals with Kimberly Marie Dec 17, 2020

“It was going to be an additional hundred grand and change or whatever,” mentions Kimberly Marie as she casually explains her rationale to begin flipping houses. At the time, she had thoughts of going back to school and getting her doctorate degree. And surprise, surprise—education costs money. So in order to pay off any debt she’d carry as a result, Kimberly turned to flipping real estate to offset her expenses.

Without much more thought, Kimberly began purchasing the ugliest homes she could find in her neighborhood and turning them into fresh, liveable homes that people could enjoy. And not long thereafter, she had established herself as the investor on the block.

Eventually, Kimberly finished school once again (and paid off debt once again), and this marked the first major transition in her investing journey. She didn’t need the immediate lump-sum cash anymore, and she wanted to take her foot off the gas a little bit. As a result, she began to hold these single family properties and turned them into sustainable rentals.

Fast forward to present day, she is amidst another transition in regards to her life. Up to date, she is selling off her single family properties and setting her sights to commercial rentals and developments.

Takeaways from our conversation with Kimberly: 1) Take a look around. At the time, Kimberly explains, in her home market of Indianapolis, the city hadn’t yet seen the gentrification it is undergoing today. But being a local in the city, there was more than meets the eye. Walking around town, she saw more and more people moving in, as well as more and more businesses being put up. So where others felt fear, Kimberly saw opportunity. Gentrification was just around the corner. And to her, it didn’t take a rocket scientist to figure it out. All it took was nothing more than common sense, and a simple question, “Would I want to live here?” The answer was “yes” so she was there to stay.

2) Don’t be a stranger. When renovating her first several flip properties, Kimberly quickly became a staple in her community. As she describes, she wasn’t some out of state, corporate investor. She was in the property every day wearing her construction attire and swinging hammers. We’re not saying that you have to do your own rehabs. In fact, we encourage anyone who wants to outsource labor so they have more time to acquire more deals! The point is, us landlords don’t have the best reputation out there with non-homeowners. It is our individual and collective social responsibility to positively affect and influence our market, our community, and the people in it. Take it upon yourself to make it more than just about cash flow.

3) Audit your goals. As mentioned above, Kimberly has pivoted a few times during her career thus far in real estate. She started off flipping homes, to owning rentals, and now commercial development. And this wasn’t by accident. Kimberly has taken a hard, inside look at herself and understands that her goals and aspirations have changed. Her reasons for investing have changed. And her attitude towards work—you guessed it—has changed as well. Set your goals and get after it. No two ways about it. Just understand that in order for you to grow as an individual, sometimes your goals have to do the same as well.

4) Ignorance is bliss. We don’t mean this in a bad way, not at all! Sometimes, you just need some naivety in your life. That’s all. Take it from Kimberly. Purchasing her first rentals, it was done more or less on the fly. She knew what to look for and what data to analyze, but it wasn’t some esoteric activity for the syndicators or ultra rich. She admits that looking back, she’s surprised just how much she didn’t know. But that’s the point. That’s why beginner’s luck exists. You do something with no idea how hard or complicated something is, and you find that it’s not hard or complicated to do at all. Approach real estate investing as if it's only for the “smart” or “rich,” and you’ll never be either of those things. So when learning something for the first time or trying to master something permanently, keep it simple.

If Kimberly could go back and talk to her 16 year old self, she’d tell her, “Just pay attention and look around.”

An unexpected benefit of real estate investing, Kimberly said, was the tax benefits and time. (She literally got a doctorate which, mind you, is the highest level you can study something and now she doesn’t even want to work.) She didn’t expect to earn and learn what she is now.

When a friend asks Kimberly about getting started in real estate, she asks them questions. Figure out your “why,” as well as what you can and won’t do.

Kimberly recommends using CoStar and Redfin to find deals and analyze markets.

Kimberly recommends reading Skip the Flip by Hayden Crabtree to help you learn aspects of real estate and personal finance that you wouldn’t necessarily learn elsewhere.

If you’d like to get in touch with Kimberly, follow her on Instagram @kimberlymarie920 or contact her at: kim@reddoorrenovation.com

110: Syndication From A Young Age with David Toupin Dec 10, 2020

Serial entrepreneur on a mission is how we’d describe this episode’s guest, David Toupin. He started his first business (humble origins of mowing lawns) at 13 years old. In his junior year of college he took a semester off to do some internships. Had he stuck to this route, he would’ve done well financially coming out of college. But six months later, he jumped ship, turned to real estate, and never looked back.

David began with a couple of wholesale deals, and he learned two real important things: 1) You don’t need to buy single families in order to purchase multi-families and 2) You don’t need to use your own money to buy real estate.

David knew he wanted to have an apartment business so he set out to hunt for deals, made a ton of offers, and fished for funding to get the ball rolling. He purchased his first 24 units at 21 years old and has rapidly scaled up since.

Up to date, David is the CFO (and co-founder) of Obsidian Capital Co. and owner of Real Estate Lab. He’s currently working on a ground-up apartment development in Austin, Texas and plans to acquire another 1,000-3,000 units in the next couple of years.

Takeaways from our conversation with David: 1) Leverage. Or as Robert Kiyosaki defines it, ”Being able to do more with less.” Don’t confuse leverage with racking yourself up with debt to acquire negative cash flowing deals or lending money to partnerships that won’t return a profit. In the same token, leverage also isn’t over-improving a property only to find that your value hasn’t increased or purchasing all the latest and greatest technologies for your business only to realize that your current processes were adequate for your operation. Leverage comes down to having the creativity, nuance, and understanding to combine ideas together and create something greater. If you do more with more, according to Robert Kioysaki’s definition, then that isn’t really leverage. That’s just doing more. And as we gather from David’s story, he knows a thing or two about leverage. So work smart, not only hard.

2) Make offers. You can make a good deal great, but you can’t turn no deal into anything. Sometimes, you do need to rely on a bit of quantity over quality. Making offers is one such time where it is appropriate. Now, this is not an excuse to make offers on bad deals, but don’t let your search for the perfect deal make you blind to decent/good deals. Sometimes, it takes those initial decent/good deals to act as your training wheels and be a catalyst for your next great deal. Take it from David, he was making offers before he even had capital!

3) Courage to connect. The beautiful thing about a network is you never know when it’ll come in handy or what will become of it. When David was looking for his next deal after his first 24 units, he sent a letter to an investor from out of state and from some sick twist of fate, this 71 year old gentleman accepted David’s invitation to connect. They formed a relationship with one another and ultimately struck a sale together that David bought from the gentleman at almost a million dollar discount, willingly! The rationale? The other investor liked David. That’s it. And as David explains, it was this deal that really got others to notice who he was. So just imagine where he would have been had he simply forked over sending the letter believing that this old-time investor wouldn’t even see it. Take a breath, puff up your chest, come from contribution, aim to add value, and just reach out to people you want to surround yourself with.

4) Trust the data. Love it or hate it, emotion will always be a factor because of the human condition. Afterall, without emotion, real estate investing wouldn’t really be fun, would it? Emotion is inevitable. Just don’t let your emotions be your downfall. All too often, as with David, new investors trust new-to-them tenants/managers/employees/etc. all too easily, before any real trust is earned. But as a responsible business owner, when excuses come up from others you hire to perform, look at tangible evidence and data to form a conclusion whether or not that excuse is a basis for incomplete or partially completed work. Determine if poor performance is actually being influenced by an external factor or simply an unwillingness to step up to the plate.

If David could go back and talk to his 16 year old self, he’d tell him, “Start buying apartments today and buy everything in sight no matter what the price is… don’t even think about it.”

An unexpected benefit of real estate investing, David said, was the freedom. He’s able to travel, work from anywhere, do whatever he wants whenever he wants… and the cash flow is a cherry on top.

A piece of advice David would tell his friends looking to get started in real estate would be to “Set your expectations up front… know what you want to get out of real estate and map your actions.”

David recommends using Instagram to connect with other like minded individuals and grow your network.

David recommends reading Maintenance Man to Millionaire: Real Estate Wealth Creation for Everyday People by Glenn Gonzales (David’s business partner) to get some insight on how to acquire and manage rental properties, as well as learn how an ordinary man grew his net worth to over seven figures.

If you’d like to get in touch with David, find him on Facebook & Instagram @realestatejedi or visit: www.obsidiancapitalco.com or learn.realestatelab.com to learn more!

109: Profitable Property Management with Jim Murray Dec 03, 2020

Meet Jim Murray, a twisted individual crazy enough to actually enjoy property management. No, it’s true.

His journey starts back in 2012 when he purchased his first House Hack, a four-unit property in Rhode Island. At the time, he was working full time for Fidelity Investments and was self-managing his property. Since then, he has jumped around to do some wholesaling, some flipping, to where he is today—a full time property manager and real estate investor.

The unfulfilment with Corporate America had been building for some time since Jim made his first investment and one bad review too many, he did what most folks could only dream of and started his own company.

So what makes Jim crazy enough to do the one thing most investors dread as it pertains to real estate? Simple, he says. He’s a systems-oriented guy who enjoys helping people succeed.

Up to date, Jim manages over 600 rental units, owns and operates Lyon Property Management, and hosts The Cash Flow Kings Podcast. Going forward, he plans to continue to scale up his personal portfolio, transition more into the multi-family realm, and help more people grow their wealth.

Our takeaways from our conversation with Jim:

1) Systems is the name of the game. Invest in technology that increases profitability. By having the right systems & processes in place, you attract and get to serve the right clients. And fortunately for us, business technology has never been easier to acquire and implement. So whether you self-manage or manage other people’s units, there’s technology out there that exists to help you out. (Find suggestion list down below.) However, understand this: Technology is meant to enhance, not replace. If you fail to develop & implement the proper processes first, investing in technology will do you or your business no good, and will probably only run you and your business dry of cash flow.

2) Fire bad clients. When starting out, you’ll be tempted to accept any and all business that comes your way. And that’s not really your fault. You won’t know what separates a good client from a bad one. But once you build your business to a respectable size, that’s when it’s time to visit our good friend, Pareto (80/20 Rule). Scale your respectable business into a sustainable one. Get rid of problem clients and double down your efforts on the good ones. Good clients (tenants, customers, etc.) are worth keeping around if you want to operate a sustainable business. But more importantly, bad clients are worth getting rid of in order to keep the good ones around.

3) Set expectations and practice accountability. This is the culture that Jim cultivates within his own company that has allowed him to make a business and career in taking over distressed properties. From the very beginning, let tenants (or clients) know what you are all about and what you will do for them. You must make your tenants know it is a privilege to rent from you, and at the same time, you must treat it as such—a privilege. That means holding yourself, your tenants, and all other parties up to the standard that you set. And when the bar is not met, someone needs to be held accountable for their actions. In doing this, you will weed out bad tenants and keep the good ones happy.

4) Image influences perception. As Jim explains in his story, when talking to contractors while wearing scrappy jeans and work boots as opposed to a suit and tie, he was quoted for a lower price for the same work being done. And it’s understandable as this is a natural human bias. So why not use this bias to your advantage? Here’s the point: It’s not always best to look like you’re made of money. While this goes without saying to look appropriate, hygienic, and professional, you don’t always need to look super polished. Rather, fit the profession you’re playing. While there are times that call for formal attire, wearing so in casual settings tends to make others perceive you as willing to pay more for something or are just flat out bougie.

If Jim could go back and talk to his 16 year old self, he’d tell him, “Buy more real estate in 2009.” In other words, take advantage of the real estate cycles and buy real estate sooner! An unexpected benefit of real estate investing, Jim said, was the opportunity to live with time, location, and financial freedom. A piece of advice Jim would tell his friends looking to get started in real estate would be to “Listen to other people.” Use the free content and information available to you online, whether it be other real estate & business podcasts, websites like BiggerPockets, or the thousands of educational real estate videos on YouTube. Jim recommends using zInspector to help you create and store tenant condition statements. This comes in handy during any tenant-related litigation, as well as have as an additional layer of legal protection for your business.

Honorable mentions: For high-end scaled operations: AppFolio; Buildium; Rent Manager. For low-end (DIY-level) scaled operations: Cozy; Avail; Zillow Rental Manager. For rental unit showings: Tenant Turner; Show Mojo; Rently. Jim recommends reading The Wealthy Gardener: Lessons on Prosperity Between Father and Son by John Soforic to help you grasp important financial concepts found in many of the popular financial/business books around.

Honorable mentions: The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field by Mike Michalowicz.

The Richest Man in Babylon by George Samuel Clason.

If you’d like to get in touch with Jim, follow him on Instagram @thecashflowkings

108: Myth Busted: Vacation Rentals During COVD-19 with Diya Liu Nov 26, 2020

We welcome back the lovely Diya Liu in this episode. When we first spoke to her back in Episode #78, we had gone over her real estate journey up to that point and how she built her vacation rental portfolio in such a short amount of time. Then, a few short weeks thereafter, our collective world was rocked when the country went into lockdown amidst the COVID-19 outbreak.

At first, like everyone else, Diya approached the situation with cautious hesitation for the simple reason that she (like most other investors) had not experienced such a thing before. How can I sustain my vacation rentals when people aren’t even allowed to travel? thought Diya. Then she realized that a pandemic induced national lockdown can actually be beneficial to her and this can be an investment-altering opportunity. So exactly how did Diya take advantage of COVID-19 and break the myths it has created for aspiring short-term rental investors?

Takeaways from our conversation with Diya: 1) Adjust accordingly. When COVID-19 first broke ground, Diya wasn’t too worried. However, shortly thereafter, guests' reservations began getting cancelled all across the board. Approaching that following month, Diya’s net revenue took a hit and things weren’t looking good. Fortunately, around this same time, as Diya explains, most folks realized that “work from home” really means “work from anywhere.” So that combined with people’s cabin fever from being cooped up at home for weeks, this created a strong demand for people to want to escape big cities such as Los Angeles or New York and social distance in a nice, cozy getaway home. Diya turned her short-term rentals into “mid-term” rentals which are leased out in about 30 days cycles. And in doing this, she also fulfills the regulations placed on short-term rentals.

2) Communicate. So with this new investment strategy in place, Diya had to quickly get her team of property managers all on the same page. She had to create guidelines and best practices that all suited the needs of the guests, the rules of the government, and the capabilities of the property managers themselves. So she spoke to each and every single one of her partners and started executing on the new and improved business model.

3) Cut your losses. However, this goes without saying that not all Diya’s units made the transition smoothly. Many flourished and some not so much. So instead of trying to walk on egg shells with problem properties that would take her energy away from the successful units, she decided to unload those problem units and double down on what was working well. Which takes us to our last point…

4) Diversify and plan. As Diya mentions, her overall philosophy as it pertains to her real estate acquisitions is all about her personal preference to the nomadic lifestyle. This means that she is not tied down to one specific niche or market. She goes where the numbers make sense and where there is business to be had. And part of that means being prepared for trends and shifts that will come along the way. Instead of solely focusing on what this current pandemic has done, she’s already shifting her sights to what’s to come after this pandemic concludes and what investment strategy and niche will work then.

A lot has happened since we last had Diya on the show. She has left her W-2 job and has transitioned full time into real estate investing. Going forward, she plans on continuing to grow her vacation rental portfolio, and help other aspiring investors start theirs.

A recent book Diya recommends reading is Never Split the Difference: Negotiating As If Your Life Depended On It by Christopher Voss and Tahl Raz as it has helped her negotiate agreements with her neighbors, as well as find off market deals.

One lesson Diya has learned since our last conversation is that short-term/vacation rentals have a lot tied to search engine optimization (SEO) and digital marketing. As far as these investments are concerned, you have to understand the guests you are hosting, as well as the platform in which you are using to list your units. You fall less on the traditional landlording side and more on the hospitality/hotel services side.

If you’d like to get in touch with Diya, visit: www.diyaliu.com or follow her on Instagram @diyaesq

107: BRRRR’s in Baltimore with Will Bowman Nov 05, 2020

When asked about what he does for a living, Will Bowman answers, “Professionally, I am three things.” Will is a management consultant (full time), a real estate agent, and a real estate investor. But that wasn’t always the case.

The advice given to many aspiring real estate investors is to find good deals and find someone with money to help fund those deals. If we were to put Will in this example, he would be the one with money to help fund the deal.

Initially, Will had no intention of ever investing in real estate. It wasn’t until his childhood friend, Austin Carrol (see Episode 53), approached him and introduced him to the business. What they quickly realized was how much they complimented each other’s strengths. From there, a partnership was born and they each have not looked back since.

Shortly thereafter, along with his partnership and working full time, Will began venturing out on his own and purchased his own rentals as well. Up to date, he has acquired a total of 14 units, and is almost out of corporate America. Going forward, he plans to invest in real estate full time, grow his real estate sales team, and become an even stronger organization.

Takeaways from our conversation with Will: 1) Stay in the zone. When purchasing (and occasionally selling) a property of any kind, make sure to do your diligence on the zoning of not only the property you are purchasing, but also the zoning of the neighboring in which you’re purchasing. Markets shift constantly, and cities have to keep up with the changes. One way they do this is by changing the zoning of certain areas. That means properties that haven’t been sold in a long time have a good chance that they do not have the same zoning as they once did. To save yourself the trouble in the future, always check the zoning of the property (and neighborhood) and plan accordingly.

Quick tip: When doing conversions or additions, this is another time to consider such a topic. Do not overlook code requirements and zoning limits. Making such structural changes to a property may increase your ROI, but it can also inhibit your available exit strategies.

2) Being your own general contractor. What this means is you, as the owner/landlord, take the role and responsibility of hiring subcontractors to complete jobs and tasks as a regular general contractor would. As Will notes, this line of work isn’t for everyone. It takes time, knowledge, and constant attention and communication. On the flip side, the experience can be very empowering and educational. So how can you be a successful general contractor for your properties? As per Will, figure what things cost. Develop your expertise and understanding of labor and materials. Secondly, hire out small tasks. Test your subcontractors with small jobs first and graduate them into larger and larger projects, similar to how your investments will probably go anyway (meaning, your first property probably won’t be a complete tear down). Progress your general contracting skills along with the intensity of your rehabs. And finally, manage and monitor your projects. Stay in constant contact with your subcontractors and take the time to physically visit the work site (or have someone visit the work site for you). Verify jobs are being done correctly, properly, and in a timely manner.

3) Nurturing partnerships. A big part of how Will go to where he is today is thanks to his partnership. Lucky for him, he was able to find someone who suited his strengths and compensated his weaknesses. However, partnerships are much more than that. At the end of the day, you’re dealing with another human being. That means human errors are bound to occur. Do not expect your partner to never make mistakes. That will only lead to disappointment and chaos. Rather, develop a culture of transparency and responsibility, both for yourself and one another. That is how you will mitigate issues and become successful long term.

4) Hospitality services on top of being a landlord. Will also runs an AirBNB unit in his basement. With this kind of investment, Will quickly learned that you aren’t simply managing a tenant, you are also operating a hospitality business. That means that along with the regular duties of maintaining and caring for a unit, you are also expected to deliver a satisfactory experience for your guests. However, with the right systems, most of the time, Will says, “You don’t even notice people are there.”

If Will could go back and talk to his 16 year old self, he’d tell him, “Thank you,” for the relationships that he’s nurtured and the personal responsibility that he’s developed over the years.

An unexpected benefit of real estate investing, Will said, was being able to be a part of a community, not just a market. And with that community, he’s built a lot of friendships that transcend real estate.

A piece of advice Will would tell his friends looking to get started in real estate would be to know your goal(s) and just get into the game. Build a surplus of capital, preserve that capital, and recuperate that capital as quickly as possible.

Will recommends establishing a Pro Account with Home Depot to not only get discounts, but have a better customer experience. This is especially helpful if you do (or are planning to do) a lot of renovations.

Will recommends reading Shoe Dog: A Memoir by the Creator of Nike by Phil Knight to help you find the strength to push through the challenges when times get tough.

If you’d like to get in touch with Will, follow him on Instagram @willbowman10 or contact him at: wbowman@kw.com

Special thanks to our guest host for this episode, Sunitha Rao Feature episode coming soon!

And thank you to everyone that has reached out to us to connect them with our trusted real estate agents in their area! And congratulations to those who have even closed deals using our referrals! For those that didn’t know, we can help connect you with real estate investor friendly agents in your area to help you get started investing in real estate. We recently made some changes to our website that we believe will better suit you in your real estate investing needs. For more information, visit www.millennial-realestate.com and head over to the “Start Investing” Tab. Best wishes and see you in the next one!

106: Finding, Qualifying, and Closing Wholesale Leads with Brad Clark Oct 29, 2020

Brad Clark had no intentions to even begin investing in real estate. Circa 2019, the only thing Brad knew was that he’d been renting for three years and had no equity or networth to show for it. So he figured he might as well buy a property since he’s going to be paying for housing anyway—that way, he might at least see those payments return back to him one day.

Brad called a Realtor and began searching for a home. Once again, at this point in time, Brad had no intention to purchase an investment property. He just needed some place to live in. So he half-heartedly put in an offer for a duplex that luckily got outbid because the numbers made no sense from an investor’s perspective. Fortunately, Brad’s Realtor found him a solid duplex in another area with numbers that made sense and House Hack #1 was under way.

From there, Brad was hooked. He had realized the wealth generating power of real estate. He learned as much as he could and consumed information as fast as he could. Not very long after, Brad was on his way to purchasing rentals, doing joint ventures, and dabbling with wholesale deals all while working a W-2 job full time.

Up to date, Brad’s focus is to build his wholesaling team to become a force in the Rhode Island and surrounding markets. His priority is helping out as many people as he can, as much as he can.

Takeaways from our conversation with Brad: 1) What is the difference between wholesaling and wholetailing? Wholesaling is generally defined as putting a property under contract between yourself and the seller, and then finding an interested buyer who you will assign a contract with for a higher price for the same property, thus allowing you to keep the difference as profit. WholeTAILING, on the other hand, is similar in process, with the caveat that you close the original contract agreement and then (generally) do some minor, cosmetic renovations (to sell at or close to retail price), and finally list the property on the MLS or proceed with an off-market buyer as you would with a wholesale deal. Neither strategy is one size fits all (they both exist for a reason), but it doesn’t hurt to have these tools in your tool belt.

2) Gist of setting appointments. Calls from inbound leads can be nerve-racking starting out. You will fumble your sentences, your emotions will be out of whack, and you might even agree to a bad deal. As per Brad: Evaluate the seller’s tone and responses. Feel them out. Next, qualify their condition. Really get a good understanding of their situation, their pain-point, and what you can offer as a remedy. Then, gauge the seller’s price point. Let them throw out their number and evaluate as you go. Don’t be the first to throw out a price. Lastly, offer three (3) scenarios and simply ask if the seller would be willing to accept any of the three.

3) Pre-qualify to subtract, not to add. If marketing for targeted inbound leads is going to be the primary vehicle used to generate your deals, you will get to a point where you might have too many “leads” coming in. Quotations included because many of those prospects might be nothing more than time-wasters looking for someone to chat with. These are objective business conversations. Stick to your agenda and start plucking out said time-wasters. At first you might feel desperate to cling to these leads because they might be the only leads you have. But it’s better to toss bad deals in search of good ones, as opposed to clinging to the bad deals and losing money because of it.

4) Go with the numbers. Even if you might not know a specific market, or have all the data you might want to make the best calculated decision, if you have run the numbers and they make sense, chances are you have a good deal in your hands. At the end of the day, all investing has risks. It’s about how well you can mitigate those risks, not necessarily about trying to eliminate every single one. And one way you do that is by going with the numbers.

If Brad could go back and talk to his 16 year old self, he’d tell him, “Start learning, read books, listen to experts.”

An unexpected benefit of real estate investing, Brad said, was simply the experience of getting to help people who have very limited options and provide solutions for them.

A piece of advice Brad would tell his friends looking to get started in real estate would be to “Do something, take some sort of action.” It doesn’t have to be perfect (it’s most likely actually going to be messy) but if you know where you ultimately want to be, all you have to do is fill in the gaps in getting there.

Brad recommends using the Zillow App to help you do your property diligence on the fly. Just make sure to be logical by what you see (meaning, if a property is a tear down, the Zestimate probably isn’t going to be accurate).

Brad recommends reading The Book on Flipping Houses by J Scott as it was the book that first introduced him to real estate investing and ultimately got him started in this business.

Honorable mentions: Never Split the Difference: Negotiating As If Your Life Depended On It by Christopher Voss and Tahl Raz & How I Turned $1,000 into Five Million in Real Estate in My Spare Time by William Nickerson.

If you’d like to get in touch with Brad, visit: www.401homebuyers.com or follow him on Instagram @401homebuyers

105: Full-House House-Hacking with Tom & Michelle Gendron Oct 15, 2020

Circa the beginning of 2019, Tom & Michelle Gendron had just gotten out of debt and were ready to begin investing seriously for their future, both as husband and wife, and as mother and father. They dabbled with the idea of strategically purchasing stocks and holding off on buying rental properties until they had more capital available. Afterall, they were already living in their “forever home,” and were in no rush to become property managers.

Nonetheless, after some intense research and education about the industry, not only did Michelle learn that buying real estate with low capital was a possibility, but that they can do it much sooner than “later down the road.”

Circa the end of 2019, Tom & Michelle had purchased their first out-of-state rental property and were cash flow positive.

Up to date, Tom, Michelle, and their four children are House Hacking in a cozy 900sqft home filled with love and excitement for the financial opportunities ahead. The goal for the next five years is to surpass $10K in passive income to be able to travel the world with their children and grow together as a family.

Takeaways from our conversation with Michelle and Tom: 1) Delay gratification. This is the theme of Tom and Michelle’s entire investing journey. This is how they were able to uproot their life and have the guts to downsize. This is how they embrace the sacrifice it takes and do it as a family. And this is how they will ultimately achieve generational wealth that will enable them to have enough passive income to live the life they so choose. Stop and think about your future self the next time you feel yourself caving into instant gratification.

2) Investing out-of-state in the eyes of a “hands-on” type of person. This was a blessing in disguise particularly for Tom because he considers himself to be a very hands-on person. With their first BRRRR (Buy, rehab, rent, refinance, repeat) property being out of state, Tom was forced to learn how to trust others in taking care of their investment (such as managing the property and completing the rehab work). Furthermore, if you are a hands-on person who wants to have a hands-off business, you’ll be forced to learn to leverage systems to make your investments successful. Don’t shy away from uncomfortable situations, use it as an opportunity to grow.

3) When reading a real estate book (or other books in general), follow along with the action steps contained in the book. It does you no good to read all the how-to books in one sitting and then only remember the last thing you read. And it certainly does you no good, either, not taking action after reading a book as well. So when there are action steps included in a book, follow along and practice the action steps. So when it comes time to take action that counts, you have already gone through the motions and will be less of a novice going in. Take it from Michelle, they found their first property on a classified ad on an online newspaper because the book she was reading mentioned it. She called the number on the ad and instantly got a $5,000 discount on the purchase price no questions asked.

4) Talk to the people outside of a property showing. Whether it be a neighbor or the homeowner themself, it doesn’t hurt to strike up a conversation with anyone who is even remotely associated with the property you are thinking of purchasing. At the very least, you’ll know someone that lives in the neighborhood and have extra “behind the curtain” knowledge about the property. As for Michelle and Tom, on their second property purchase (the triplex they are currently House Hacking), while Michelle was touring the inside of the property, Tom struck up a conversation with the homeowner who was sitting in her car outside in the driveway. In the end, they beat a cash buyer in getting an offer accepted to purchase the property because they had an edge in the relationship with the seller.

If Michelle could go back and talk to her 16 year old self, she’d tell her, “Get outside of your comfort zone. Try all sorts of new things. See what’s out there.”

An unexpected benefit of real estate investing, Michelle said, was getting to a financial freedom number.

A piece of advice Michelle would tell her friends looking to get started in real estate would be to “Go out and meet people who are doing what you are thinking you want to do.”

Michelle recommends using The Facebook Marketplace to help you sell things you don’t need anymore (so you can have more money to invest in real estate!).

Michelle recommends reading The ONE Thing by Gary Keller and Jay Papasan to help you focus on your priorities and accomplish your goals in the best way possible.

If Tom could go back and talk to his 16 year old self, he’d tell him, “Educate yourself on finances. Start early.”

An unexpected benefit of real estate investing, Tom said, was the ability to not only imagine, but also achieve early retirement.

A piece of advice Tom would tell his friends looking to get started in real estate would be to take initiative. “This is hard to do. But with hard work, it’ll pay off. So if you’re willing to put in the work… there’s a lot of free content out there to learn,” Tom says.

Tom recommends using Things app to help you stay productive and accountable with your tasks.

Tom recommends reading Extreme Ownership by Jocko Willink and Leif Babin to help you develop your leadership skills for business and life.

If you’d like to get in touch with Tom and Michelle, follow them on Instagram @lifebydesignfamily

Thank you to everyone that has reached out to us to connect them with our trusted real estate agents in their area! And congratulations to those who have even closed deals using our referrals! For those that didn’t know, we can help connect you with real estate investor friendly agents in your area to help you get started investing in real estate. We recently made some changes to our website that we believe will better suit you in your real estate investing needs. For more information, visit www.millennial-realestate.com and head over to the “Start Investing” Tab. Best wishes and see you in the next one!

104: Turning Family Partnerships into a Scalable Business with Ashton Levarek Oct 08, 2020

Nearing the end of his tenure with the military, Ashton Levarek wasn’t too sure where he was headed next. Out of the blue, his brother mentioned to him the opportunity he saw in real estate. After running some numbers, they quickly learned about the industry, and started making offers. This was the genesis of their family-run and -operated business Valkere Investment Group.

They started small with two duplexes (four units totals). These were not without their issues, but like all great success stories, they only really remember the lessons. And upon the search for their next project, it was at that point, Ashton’s brother’s wife asked the team, “Why are we only working small deals?”

Think about it, it was the same amount of work to acquire and manage the property, why bother working on only a few units at a time when they can simply create the systems and scale endlessly?

If Ashton could go back and talk to his 16 year old self, he’d tell him, “Get into it sooner!” An unexpected benefit of real estate investing, Ashton said, was learning how to run a business that has opened a whole new way of life for him and his family. (Personal growth and closer relationships are a plus as well.)

A piece of advice Ashton would tell his friends looking to get started in real estate would be to have “Clarity, commitment, and take action.” Be clear about your goals. Commit to your goals daily. With daily commitment, you will never fail with the action you take—you will either succeed or you will learn. Aston recommends using monday.com to track projects within your business, as well as assign different tasks to different people. Ashton recommends reading The Vision Driven Leader: 10 Questions to Focus Your Efforts, Energize Your Team, and Scale Your Business by Michael S. Hyatt to help you develop your vision.

Honorable mentions: Never Split the Difference by Christopher Voss and Tahl Raz, Pitch Anything by Oren Klaff, Traction by Gino Wickman, Raising Private Capital by Matt Faircloth, and Best Ever Apartment Syndication Book by Joe Fairless and Theo Hicks

If you’d like to get in touch with Ashton, visit:www.valkeregroup.com or follow him on Instagram @valkereinvestmentgroup

103: Residential Multi-Family House Hacking with Devin Moreno Sep 30, 2020

Devin Moreno started with nothing but a stable job living paycheck-to-paycheck and $500 to his name. Despite coming from a family of investors (stocks and other businesses), it’s a surprise Devin didn’t actually make the jump to real estate sooner than he did. (And this was one of Devin’s motivations to succeed as much as he has so quickly.)

So, coming onto the scene a little later than many Millennials investors, Devin buckled down and learned as much as he could about the real estate industry in six months. He knew he struggled with analysis paralysis so the six month deadline was crucial for him to get started.

And just like that, Devin had purchased his very first House Hack using a VA Loan, meaning he was able to purchase the property for 0% down. Since then, he has used this first property as a launching point into the small multi-family space using a combination of conventional and private financing to continue leveraging his investments.

Up to date, Devin is closing on his first triplex which will be a BRRRR investment purchase. Devin knows his goals have definitely evolved since he began, and thinks they will continue to change going forward. Right now, the important thing for him is to ensure he continues to invest in properties that excite him and challenge his comfort levels.

Our takeaways with our conversation with Devin:

1) Run your business like a business. When Devin purchased his first privately funded deal, he confessed to us that asking people for money was not something he was accustomed to (as we’re sure with many investors starting out). That’s okay. As per Devin’s case, the people he was looking to get funding from were people who also didn’t know much about private financing. So as he learned more and more about deal structure, Devin kept an open line of communication with them and explained to his lenders exactly how the deal was going to work. Along with explanations and his competence, Devin proved he was trustworthy by displaying the business systems he had in place. Lastly, he didn’t take too much money for anyone to handle. Each person who funded his deal lent no more than $10,000.

2) Give yourself deadlines. All too much, we see many eager investors cave into fear and fall prey to analysis paralysis. By giving yourself a deadline (and an honest effort), you will be able to hold yourself accountable and examine your “readiness” from an outside perspective. The goal isn’t to learn and/or analyze everything for your first deal. If that’s the case, you’ll never be ready. The goal is to learn and/or analyze enough to do your first deal. Remember, even if your first deal goes completely wrong, you will still have learned more from those mistakes than you would have had you not taken any action in the first place.

3) Read the fine print. One of the many reasons real estate is such a great investment vehicle are the legal loopholes available to investors’ disposal. However, because many loopholes are popular (and maybe even considered common practice), just one overlook of text or just one uneducated assumption can lead you to a plethora of legal trouble. Have competent advisors and be competent yourself. Make sure your business practices are within the confines of the law and protect yourself and your assets. When it comes to asset protection, “Better safe than sorry” is the motto.

4) Learning your market. You don’t always need to invest where you live (not at all), but the real estate industry and real estate markets are very niche. If you want to be successful, it would suit you well to learn where you are putting your money into. There are many ways to learn a new market. You can assemble a team who knows the area, talk to other investors who invest in the area of interest, or spend time traveling around the area for yourself. For Devin, the third option was the way for him. He invests in Baltimore where the market tends to be “block-for-block,” meaning one street over from another can be a totally different market in and of itself. And that’s okay. Regardless of how you learn your market, with enough due diligence and practice, you will learn your market as well as many others along the way (just don’t fall into analysis paralysis!). Devin knew nothing about Baltimore starting out, but now he can distinguish one “block” from another very easily. If David could go back and talk to his 16 year old self, he’d tell him, “The biggest disappointment is starting this so late. At minimum, paycheck-to-paycheck will not do you any favors.” An unexpected benefit of real estate investing, Devin said, was the confidence boost it gives you knowing you are a homeowner, as well as a business owner. A piece of advice Devin would tell his friends looking to get started in real estate would be to “House Hack—even if that is [your] only purchase ever.” Devin recommends using YouTube to learn and consume all things real estate. Subscribe to Devin’s channel at Devin Moreno Investing! Devin recommends reading Landlording on Autopilot by Mike Butler & Real Estate Investing Gone Bad by Phil Pustejovsky to help you get started on your real estate education.

If you’d like to get in touch with Devin, contact him at: devinmorenoinvesting@gmail.com

102: Bookkeeping for a Profitable Bottom Line with David Richter Sep 24, 2020

David Richter began his journey early on, like many folks, immediately after he read Rich Dad Poor Dad. He was still in college at the time, but that didn’t stop him from finding a value-add property he would live in and ultimately lease option after two years, in which he then got out of tax-free. The financial savvy displayed in this first deal would become an entire business for David just a few short years later.

Not too long after that first deal, he came across a startup real estate investing company that was just beginning to grow as he came into the team. With such a dynamic company, and one that was starting to produce large amounts of business, David found himself taking on a larger and larger role within the company. As the company grew its employee base, David jumped from seat to seat in order to make room for the folks coming in and in order to stay afloat.

Then it clicked. With all the new members in the team and all the transactions they do year-over-year, David asked himself, “Are we anymore profitable now than we were before?”

After an in depth analysis of the numbers, David found that the company, despite all the business they were conducting, wasn’t really walking away with as much net profit as they originally thought. And that’s where we meet David in this episode.

Up to date, David is the founder and CEO of Simple CFO Solutions, helping real estate investors large and small take control of their finances and improve their bottom line. He has conducted over 800 deals thus far, and has teamed up with Mike Michalowicz to write Profit First for Real Estate Investors.

Our takeaways from our conversation with David: 1) Payroll and overhead. A company (real estate or otherwise) and become really large but not turn a profit due to these two things. Without control and awareness of the financial expenses tied to payroll and overhead, any revenue produced can easily walk out the door the moment it walks in. This was the problem that David saw as he was beginning his business in helping real estate investors understand and manage their books. Surprising as it seems, business owners many times simply just didn’t know what the numbers meant, nonetheless strategize and execute accordingly.

2) Everything and everyone contributes to the bottom line. From the smallest role to the largest position, if you’re going to be a savvy business owner, you have to know when to hire out jobs and bring in new team members. As a real estate entrepreneur, you’re not selling information or running a virtual business… you need to know what you need, where you’re going, and what you want to do in order to turn a profit at the end of the year. And part of that entails knowing exactly what kind of entrepreneur you want to be and what kind of business you want to run. Do you like doing hands on work or do you prefer a more managerial position? Do you want to do one deal a quarter or 50 deals a month? Only then can you even begin to effectively plan and strategy for execution.

3) Hire for what an employee can do to make the business more profitable, not just to hire out the tasks that need to be done. Once again, everything and everyone contributes to the bottom line. Having someone else do a task that you didn’t make more money or save time from kind of defeats the purpose of having someone else do that task, doesn’t it? What David found was that business owners thought that as long as they brought in more people to do more work, that it would result in more profit. They’re not necessarily wrong in their logic, but it depends on the degree of work those hires would be doing. Did their output in results justify their wage? Remember, bottom line.

4) Steps to hiring a good bookkeeper: 1. Know your numbers, they tell your story. Have, at the very least, enough knowledge about your books and what the numbers mean so you can actually benefit from the services of a bookkeeper. 2. Ask if they’ve done real estate books before and/or if they invest themselves. 3. Ask for references and inquire about previous relationships and work. 4. Throw them softball questions and access their confidence. (According to David, anyone can get the basics of bookkeeping from the general education available, but with real estate, because it is so niche and can get complicated really quickly, it’d be wise to go with someone who really understand real estate bookkeeping, hence the need to ask for real estate bookkeeping experience.) 5. Set up your systems, timelines, and establish open and constant lines for communication

If David could go back and talk to his 16 year old self, he’d tell him, “Read all this stuff earlier… Really know what you want as a person.”

An unexpected benefit of real estate investing, David said, was the ability to create generational wealth that can be passed down.

A piece of advice David would tell his friends looking to get started in real estate would be to “Read as much as you can, get educated, and start making offers.”

David recommends using Scribd and Goodreads for all your reading and learning needs.

David recommends reading The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime! by M. J. DeMarco to help you discern whether real estate is really something you want to do.

If you’d like to get in touch with David, visit: www.simplecfosolutions.com or www.profitfirstrei.net

101: Making Rental Insurance Easier with Ryan Letzeiser Sep 17, 2020

Despite claiming that he left the intellectual role in the family to his brother, Ryan Letzeiser began his real estate journey in college. He went to Michigan State, got his bachelor's, and then shortly made his way over to Clemson University to pursue a master’s architecture. He took Real Estate Development as an elective and almost instantly realized he had gone down the wrong path.

His first summer while in Clemson, he decided to take an internship with a real estate private equity group in Florida as a way to casually dip his toes into the industry to feel out whether he was actually willing to jump ship and dive head first into real estate. Turns out, he loved it!

Some time (and some companies) after that, Ryan decided to do private investments on his own and started a tech company based on managing expenses and insurance for real estate investors. The motivation for this came from the experiences he had during his time working for those large billion dollar organizations in the commercial real estate space. He learned that the “little guys” were often at a disadvantage because they simply could not attract the business of more adequate carriers because they just didn’t make enough on their bottom line.

Up to date, Ryan is the acting CEO of Obie, managing risk for multi-family and commercial real estate investors alike. He looks to continue to grow his personal portfolio, and to continue providing better and better services for his clients looking to navigate their way around the real estate space.

Our takeaways from our conversation with Ryan: 1) As with insurance, you’d want a policy that covers you through and through in any case, but hope you’ll never actually have to make a claim with. And to be fair, that’s only really when you find out exactly what kind of carrier you’re working with. It can get ugly really quickly, Ryan says, and sometimes it is the brokers to blame. These such brokers push for policies in order to attract business that the carrier can’t necessarily handle and it is the investors who pay the price because their bottom line will be greatly affected once it is needed. You want to stay on top of your coverage as well because you don’t want surprises when the time comes to renew or change policies. You need time to choose the best coverage for your specific situation.

2) There are many niches in the real estate industry. If you find yourself in a position to be able to take a role within a large organization or company, it might be worth your while starting out. By working with a larger firm (that doesn’t even necessarily coincide with only investors either), you can learn a lot right away with the insulation of a large company, meaning they will guide you through the deals and issues and even absorb the costs. If you were a sole proprietor, you would have to navigate the waters all on your own with little guidance (if at all) and all the expenses would come right out of your pocket. At the end of the day, real estate investing doesn’t only consist of investors. There are many other people and services out there that investors need for their business. Just look at Ryan. Investors hire his company to manage their individual portfolios because their time (the investor) is better spent elsewhere.

3) The similarities between The Great Recession, The Retail Apocalypse, and today. While we don’t want to speculate on the future, nor do we want to feed into the fear about the economy, there are many similarities that are occurring today that were seen clear as day with hindsight from a decade ago. And truth be told, we probably really aren’t going to see any large effects of this quantitative easing or government stimulus until COVID-19 is all said and done. That will be when the larger shifts and corrections will begin. And the ironic thing is, Ryan said, folks had been predicting a recession (that never came) for years now. And once the economy had finally settled into a smooth cruise, this act of God struck us all and now look at us…

4) Hard times are when you find out what you’re made of. Ryan has now experienced two market downturns and he says that they only made him a better investor both times. And the same can be said for you. It’s easy to get deals and say you’re a great real estate investor when the market makes it so. But when it dries up and deals are far and few, that’s when you really get to roll up your sleeves and work on your craft. You will be tested and if you can handle yourself then, you will come out of the downturn stronger, smarter, and richer.

If Ryan could go back and talk to his 16 year old self, he’d tell him, “It will all work out.”

An unexpected benefit of real estate investing, Ryan said, was the ability to grow his network, and more importantly, learn from his network.

A piece of advice Ryan would tell his friends looking to get started in real estate would be to “Make sure that your [partnership] agreements are ironclad,” meaning they are written on paper and signed on the dotted line. Handshake agreements will not suit you well if push were to shove.

Ryan recommends using an HP 12C Financial Calculator to help you run the numbers on a deal on the fly.

Ryan recommends reading The Art of War by Sun Tzu to help you get insight on how negotiations work, as well as taking an MIT: Real Estate Economics course to help form your foundation on how real estate works in the real world.

If you’d like to get in touch with Ryan, visit: www.obierisk.com or contact him at ryan@obierisk.com

100: Special 100th Episode Sep 10, 2020

We welcome back special guests (and part-time hosts) Lucas Miller (episode #15) and David Pere (episode #35) for this 100th episode special!

At the time of this release, we have had the great fortune to produce episodes with Millennial real estate investors week after week for slightly over two years now. A lot has certainly taken place since it all began.

For one thing, we have put out 99 other episodes! Dan has bought two House Hack properties (refer to episodes #1-99 to learn more about House Hacking). Ben has ventured into assisted living facilities and out-of-state investing. Lucas has left his full time job enabling him to focus on investing in multi-family syndications full time. And David has completely replaced his active income with passive income from his investment properties and other businesses.

But to say it came easily and without challenges would do new and aspiring real estate investors a disservice. Each one of the four of us has lost money, made mistakes, and failed over the last two years. We are not perfect and we don’t always know what we are doing.

And that’s the real takeaway from all this: we are regular Millennial human beings just trying to carve out a better life for ourselves and the people we love… and we just so happened to choose real estate as our main vehicle to do just that. That’s our reality.

It isn’t all glitz and glamour, it takes real effort and commitment, and it won’t come as easily for some as it will for others. It’s just the way life works sometimes. Regardless, go out there, make some offers, close some deals, and have some fun!

Huge thank you to the 90+ guests that were kind enough to speak to us over the past two years. We literally couldn’t have made this show what it is without each and every single one of you.

And to you, dear listener, thank you for tuning in every week and letting us become a piece within your real estate journey. We are overjoyed with the amount of people who decided to act and take control of their financial lives. We love to see your progress and your continued growth. Reach out and tag us on Instagram @millennialinvestorpodcast so we can see and share what you are up to!

99: Small-Town Long Distance Investing with Alex Kies Sep 03, 2020

Growing up, Alex Kies had no intention of ever becoming a real estate investor. As he said it himself, he was supposed to be a doctor! Instead, he chose the next best thing, and became a musician instead. At 24 years old, he uprooted his life in Missouri and settled into sunny Southern California. Here, Alex would pursue music to eventually become a regional manager for a non-profit music studio builder called Notes for Notes. While he did enjoy his work here, he found that he was beginning to reach a financial ceiling, as well as a life plateau. He wasn’t making the doctor salary he had prepared for earlier in life. On top of that, he felt that he wasn’t fulfilling his full potential in this line of work. He needed a change. He read Rich Dad Poor Dad, found BiggerPockets, and decided real estate was what he was going to pursue next. He found a real estate agent back in his hometown in Missouri who was willing to guide him through his first investment purchase. On his birthday, he made an offer on a value-add property that was accepted in 10 minutes! And that is where we meet Alex in this episode. In the coming years, Alex will continue to help his partners grow their investment portfolio, and he looks to grow his own to 250 rental units! Our takeaways from our conversation with Alex:

1) Manage optimism AND expectations. While his investing history has been, as Alex put it, “Pretty cruise control,” that goes without saying that starting out, he did have a few bumps in the road. On his first property, he expected to earn $1,200 in rental income per month and to this day, he still does not make that much. It isn’t because it’s a bad deal, $1,200 goes a long way in Missouri. It’s because Alex’s expectations were too high. As a result, the unit stayed vacant five months! And when he finally got it rented out, he only collected $900 per month. Starting out is very exciting, but the drawback is you don’t really know how your first deal will actually turn out. Afterall, you have no experience to refer to. Expect the unexpected and don’t expect too much, too soon. Keep your optimism aligned with reality.

2) Due diligence. For residential real estate, rent prices are more about what the market says they will be, and less about what a landlord says they should be. Just because a seller says their property collects strong rents, doesn’t mean that is actually the case. You have to remember they are trying to sell their property for a reason. Run the numbers, understand your market, and be quick to correct if projections need adjustment. Understand the seller’s situations, the property’s conditions, and the market’s circumstances.

3) Problem solving. When purchasing value-add real estate, you must understand that you are buying someone else’s problem. The better you can become at solving problems, the better of an investor you will become. And similar to expectations, plan for problems that you don’t know will even occur. That entails having reserves to pay to solve these problems, as well as the team to get the job(s) done. 4) While competition is good and can be healthy, there’s no point in purposefully making things difficult for yourself and putting yourself in a competitive disadvantage. Play the hand you’re dealt with and use that to your advantage. You don’t always need the same deck of cards that other people have. And a lot of times, we don’t focus enough on our own cards that we can capitalize on. For Alex, the cards in his deck that he used was that he was from the same town that he invests in and he had an agent he worked with that saw his potential early on. For others, it might be their access to capital, previous work experience, or other hidden skills. If Alex could go back and talk to his 16 year old self, he’d tell him, “Don’t go to college, major in real estate!” An unexpected benefit of real estate investing, Alex said, was the opportunity to learn about himself, develop his confidence, and take responsibility for his actions. A piece of advice Alex would tell his friends looking to get started in real estate would be to hire him as their agent… Alex recommends using Google Calendar to stay organized and do all the things you need to do every day. Alex recommends reading Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties by David Greene to learn the same steps he used to buy his first investment property. If you’d like to get in touch with Alex, follow him on Facebook or Instagram @alexkies

98: AirBNB Arbitrage, Creative Financing, and Wholesale Lessons with Michael Glaspie Aug 26, 2020

Michael Glaspie had his humble beginnings in Texas. Having been born and raised there, he naturally went to college in-state and eventually joined the military. What was a means to pay the bills became a sort of passion for him, as he rose to become a member of the U.S. Army Special Forces, better known as the “Green Berets.”

However, several years into his tenure, he started to question whether there was something more out there for him. Was service all that he was meant to do?

Sure enough, Mike realized that in order to be able to do more with his life, he had to be able to financially support it. In enters real estate investing. Mike purchased his first duplex with less than $2,000 and inadvertently House Hacked without fully understanding what House Hacking even was.

Along the way, Mike experimented with many different strategies and have come to accept rental income as his main vehicle for financial freedom. By having steady, passive cash flow every single month, Mike is able to supplement his once military income and build his portfolio to scale.

Up to date, Mike is a real estate agent and looks to triple (yes, triple!) his investment portfolio within the next five years. He attributes this feat to the people he surrounds himself with, as well as his continued education because that’s what got him started in the first place.

Our takeaways from our conversation with Mike: 1) “Subject-to”: Term is used when a property is acquired “subject-to” the existing financing. The mortgage remains with the same person (seller), but the title transfers over to the new owner, you (buyer). In Mike’s case, it works well with military members who have to sell a property with no equity (because military members usually move every 2-5 years). That way, they can maintain their credit score, not pay money out of pocket to sell their home, and have a pain-free solution to their relocation.

2) AirBNB Arbitrage: “A sexy way of saying a ‘sub-lease,’ which is a sexy way of saying ‘to rent out a rental.’ ” says Mike. His reasons for implementing this strategy are speed and profitably. In other words, to be able to invest quickly with less capital compared to other popular strategies with just as much, or more, return on investment (ROI). There is enough room for creativity in this strategy that other larger investments don’t necessarily allow because of the red tape involved. While many landlords might not like this idea, there are many benefits to them as well. Some include being able to receive steady income for longer term leases, endure less wear and tear on the unit, and have the peace of mind that the unit is being kept in tip-top shape.

3) Three lessons Mike learned on his first wholesale deal: 1. Don’t be overconfident, always keep the other party’s best interest in mind. 2. Keep out of pocket costs to a minimum. 3. Start with the end in mind. During the early stages of Mike’s real estate career, like we mentioned, he tried many different things. One of which was wholesaling. While it sounded simple enough to him at the time, with hindsight, Mike admitted that he did not make the best decisions on that first deal. As a result, the deal fell apart resulting in lost capital for Mike and housing trouble for the seller. Although he learned his lesson, if he might’ve been a little more cautious, the deal could’ve actually went well.

4) Implement fail-safes. Being involved in short-terms rentals (AirBNB), Mike ensures that he and his team are prepared in case a push were to shove. But this goes for every investment strategy out there all across the board. Whether it be on lease agreements, purchase/sale contracts, or partnerships, just to name a few, have specific terms and agreements in place so that all parties are on the same page, all parties can weather out a storm if one were to arise, and all parties are not put in an uncomfortable or unfair situation during the deal or life of the investment.

If Mike could go back and talk to his 16 year old self, he’d tell him, “Be patient and think about the results of your actions.”

An unexpected benefit of real estate investing, Mike said, was the freedom it grants you. With this business, you can truly work for yourself and be self sufficient.

A piece of advice Mike would tell his friends looking to get started in real estate would be to “Make the first deal… get started as fast as you can!”

Mike recommends using Personal Capital to assist you in all of your financial and accounting needs.

Mike recommends reading The Millionaire Real Estate Agent/Investor and The One Thing by Gary Keller, Jay Papasan, and Dave Jenks, as well as The Compound Effect by Darren Hardy.

If you’d like to get in touch with Mike, visit: www.fivepillarsrealty.com or follow him on Instagram @michael.s.glaspie

97: Small Multi-Families & Project Managing with Gerrit Van Maanen Aug 20, 2020

If you were 19 years old in college, recently just discovered real estate investing, and wanted to get started, how would you propose to do it? Affordably.

Gerrit Van Maanen embarked on his journey to financial freedom almost accidentally. It took place early in college when he and his buddy had to do a reading assignment. Borderline jokingly, the two of them chose Rich Dad Poor Dad as their selection and like most others in this line of business, the rest is history.

As an adolescent, Gerrit was already very entrepreneurial. Growing up in Iowa, he and his brother started and ran a sweet corn business. It would be this same exact brother who Gerrit would partner up with to buy their first duplex together.

Remember how we mentioned Gerrit was in college during this time? Affordable meant that this duplex cost only a tad over $50,000! But that also meant they DIYed the property for over a year! But like any good zero-to-hero story, this was sure to be filled with lessons learned.

From there, Gerrit continued to grow his portfolio through steady rentals, and is looking to experiment with different strategies to spice up his investing a bit. Up to date, Gerrit is the acting project manager for Spartan Investing Group, who specialize in value-add commercial properties all across the United States.

Our takeaways from our conversation with Gerrit: 1) Have reserves available. This was the biggest lesson Gerrit learned from his very first investment purchase. Just because you run your calculations and the pro forma looks good, it doesn’t mean that reality will go as smoothly as the plan. Furthermore, just because you can afford the down payment, it doesn’t necessarily mean you can afford the investment! Costs will add up and budgets will be disrupted. Have reserves available!

2) Simplicity. When working on his first house flip, Gerrit was unsure of his renovation plans. He had many ideas, but that only made making decisions even harder. Having options is a good problem to have (that’s what makes real estate investing so attractive to many people). But at the end of the day, a good problem is still a problem. All too often, in our effort to be great, we lose our footing. Investing is done with the intention to stand the test of time. That is accomplished through simplicity.

3) Versatility. Investors with access to more capital may disagree, but Gerrit prefers small multi-family investments (1-4 units) due to the fact that you can do a lot with these types of properties, in terms of strategies. Generally speaking, what makes larger multi-families more attractive to investors are the paper profits. However, paper profits don't necessarily mean more profit in reality. With small multi-families, Gerrit says, you tend to have longer term tenants. And having low maintenance tenants combined with low turnover units can more than make up for the profits you would otherwise not receive.

4) High quality talent is difficult to find, provide value to the people who need it. When Gerrit discovered Spartan Investing Group (SIG), he instinctively provided value to the company by doing research on his market and presenting it as a potential investment opportunity. Although SIG has yet to take Gerrit up on his offer, that was enough for them to notice Gerrit’s qualities as an important person to have on their team. So when looking for a mentor, employer, or partner, be someone who has high quality talent. The other party is more likely to take notice, and the benefits will be reciprocal (win-win!).

If Gerrit could go back and talk to his 16 year old self, he’d tell him, “Focus on school. Learn more by doing more.”

An unexpected benefit of real estate investing, Gerrit said, was the ability to have so many doors open to mentorship.

A piece of advice Gerrit would tell his friends looking to get started in real estate would be to “Have $10,000 more than your down payment.”

Gerrit recommends using Smartsheet to help you run your real estate business smoothly and efficiently.

Gerrit recommends reading Creating and Growing Real Estate Wealth: The 4 Stages to a Lifetime of Success by William J. Poorvu to help you envision real estate investing holistically.

If you’d like to get in touch with Gerrit, visit: spartan-investors.com

96: Using Retirement Accounts to Buy Multi-Families with Josh Plave Aug 12, 2020

It’s not often that people get started investing in real estate by being the one who helps others fund the deal. Why? Simply because people usually don’t have a lot of capital starting out. So they turn to institutional or private lenders for support.

In the case of Josh Plave, thanks to familial upbringing and financial savvy, he embarked on his real estate journey being on the other side of the table, the lending side. Having been raised by a CPA, he grew up understanding the importance and power of planning for one’s future.

So starting at just age 16, Josh opened his first individual retirement account, and began investing for his future. Somewhere along the road, having secured a good paying job, he stumbled across the awesome power of real estate investing. Up to this point, he’d only been putting money away for retirement paycheck by paycheck. (Real glamorous, we know…) He put two and two together and realized that he can jump straight into multi-family real estate with the capital he already had and grow it even further by lending it out to others.

This allowed him the opportunity to save himself some growing pains and develop a scalable system much faster.

Up to date, Josh focuses on multi-family syndications and looks to continue growing his wealth with an emphasis on having enough passive cash flow to provide for his growing family.

Takeaways from our conversation with Josh: 1) Understand how retirement accounts work. This can be a very beneficial thing to learn about because it grants you access to a whole new realm of private money. Most people already have their money tied up for retirement anyway, so they’re basically just sitting there waiting to be used. By having the knowledge to leverage this money, as well as the creativity to create winning scenarios, you can use that to your advantage to grow wealth all around.

2) Tax savings combined with compound interest. On their own, these two items are already quite powerful. Put them together, and their power becomes ten-fold. Being able to save money from paying taxes and reinvesting it into something that grows passively, you really do create two pennies with a single penny. The tax code is your friend, use it.

3) Josh’s steps to invest in syndications while working a full time job: 1. Be aggressive with your contributions. 2. Understand how much control you have over your account(s). 3. Roll over your 401(k) into a self-directed IRA.

Key Terms: 1) Unrelated debt-financed income (UDFI): This is what you use in order to finance your investment, i.e. The mortgage for the property. Your 30% down payment is being leveraged. The other 70% becomes…

2) Unrelated business income tax (UBIT): This is the part of your investment that gets taxed, even when using a Roth IRA. But because these are technically business expenses, you can depreciate the leveraged part of the investment.

3) Deprecation: A paper loss that you claim on the value of the property because of perceived wear and tear. This so-called “loss” can be taken for a certain amount of years at a fixed amount. This results in the ability to deduct against taxable income, thus reducing the amount of taxes owed.

4) Cost segregation: In essence, this is itemizing the expenses of an investment in order to accelerate the depreciation. This is done to frontload the tax write offs and have access to capital sooner rather than later. And with multi-family real estate, cost segregation is sure to have more leveraging power. It doesn’t mean less taxes are paid, it just gives you more flexibility of when to pay them.

5) Depreciation recapture: Remember those sweet tax write offs from depreciation? Those costs are then paid (or recaptured) when the investment is sold, as a way to make up for some of the taxes that were deferred or otherwise not accounted for.

If Josh could go back and talk to his 16 year old self, he’d tell him, “Trust [your] gut.”

An unexpected benefit of real estate investing, Josh said, was the ability to have the flexibility to dictate his schedule and have the total control of his time.

A piece of advice Josh would tell his friends looking to get started in real estate would be to “Educate, educate, educate!”

Josh recommends using Expensify to help you keep track of your receipts and expenses come tax time.

Josh recommends reading Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits by David Lindahl to help you learn everything you need regarding apartment syndications.

If you’d like to get in touch with Josh, visit: www.walltomain.com

95: DIY Duplexes & Creative Commercial Properties with Reinhard Kurzen Aug 05, 2020

Sometimes we just need a guiding hand to help us get started. Thankfully for Reinhard Kurzen he had a family member introduce him to the idea of House Hacking. Working a professional job and advancing in his career, Reinhard originally had intended to settle down and live out a more traditional middle class life. But ever since discovering the wealth building power of real estate investing, his life has taken a turn for the better indefinitely.

From investing across state lines to dealing with homeless intruders, Reinhard and his wife, Samantha, have steadily grown their portfolio over the last several years and have no intention of letting up. They House Hack their main residence and utilize the BRRRR Method on their larger properties. Up to date, they own 32 units and look to grow exponentially from here.

Takeaways from our conversation with Reinhard: 1) Buy quality materials. Starting out, Reinhard and Samantha decided they were going to rehab their own investment property. Without intentionally meaning to do so originally, they ended up with a house that was all but gutted out. What was intended to be a “light paint and finishes” type-of-job, turned into a full blown home makeover. The worst part is that they then had to redo some of the work because they went with cheap materials. The lesson here? Buy quality products and materials so you don’t have to do the labor more than once! It costs less money and takes up less time to do the job correctly the first time then it does to put half effort and have to do the same job a second time.

2) Budget your time. If you do plan on going down the DIY route of real estate investing, whether it be rehabbing, managing, etc., make time for your business. Because after all, it’s a business! Growing a business takes time, and that time has to be put into the business.

3) Understand the different rent models available. Depending on your market, as well as the type of tenants you house, some models are preferable to others. While on one hand it benefits the landlord to individually meter each unit for additional housing costs/fees, on the other hand, many times tenants just want one lump sum to pay each and every single month. You as the landlord must decide which model works best for your situation, on top of establishing clear and concise guidelines and lease agreements from the get go with your tenant(s).

4) Declare it to the world! At the start of his investing journey, Reinhard decided he would follow the “Stack,” a method in which you double your number of units every year, or established time period, allowing you to geometrically grow your portfolio (i.e: 2 units, 4 units, 8 units, 16 units…). After Reinhard obtained several units, he began letting everyone in his network know he was searching for a commercial eight unit property, so he could continue his “Stack.” Lo and behold, he was introduced to a 26 unit value-add apartment complex. While quite a jump from eight, the point is to network and tell others what you are seeking. You never know what others come across that is perfect for you and vice versa. Like the Stack itself, the power of your network is, too, geometrical (Refer to Metcalfe’s Law).

If Reinhard could go back and talk to his 16 year old self, he’d tell him, “Get educated. Learn everything you can about real estate.”

An unexpected benefit of real estate investing, Reinhard said, was the ability to save and invest those savings that he would otherwise be spending on housing.

A piece of advice Reinhard would tell his friends looking to get started in real estate would be to “House Hack!”

Reinhard recommends using Appfolio to help you stay connected with your team and keep your documents organized.

Reinhard recommends reading The Miracle Morning by Hal Elrod to help you live out your goals every day.

If you’d like to get in touch with Reinhard, contact him at reinhardpkurzen@gmail.com`

94: Agent To Flipper To Multifamily with Steven Libman Jul 23, 2020

One of the beauties of real estate investing is the abundant strategies available at one’s disposal in an effort to achieve their financial, career, and life goals. Our guest in this episode is no stranger to the industry. He’s been involved in real estate for over a decade. He’s gone from collecting commissions to selling his start up company, from wholesaling to commercial real estate.

Steven Libman began his journey in real estate as a licensed agent. Soon after that, he became a licensed broker, and then eventually a managing broker. That was going pretty well for a while until one petty demand too many pushed him over the edge. Right then and there, he decided to uproot his career and look at this life. This would not be the last time, either.

Steven decided to take a long trip with his soon-to-be business partner and came up with the startup business plan. It was going well, despite the tough learning curve, but still, yet again, it didn’t feel quite right. They were profitable, and they were growing their business, but nonetheless still didn’t have quite the lifestyle they wanted.

Long story short, and some Masterminds later, Steven has created two separate businesses in real estate, one of which he sold off, and the other thriving now more than ever. He’s learned valuable lessons along the way, and has the unique experience of being involved in different facets of the industry. Not only does he share the importance of financial literacy, but also the importance of lifestyle design.

Takeaways from our conversation with Steven: 1) Don’t be an island. Starting out, Steven and his partner only knew one way to learn and conduct business. They had to do it themselves. Early on, they didn’t consider hiring out jobs or expanding their team. They came from the assumption that experience is the best way to learn, which it is, but long term, it doesn’t always mean it’s the best way to grow.

2) Explain your business. If anyone is worth doing business with, it is worth it to explain to them how your business model works and how your relationship will dividend one another. Being in the investing space, many real estate professionals won’t know how different strategies work or why they should be involved. But by explaining your business and intentions clearly, not only will you be more likely to develop profitable relationships, you’ll be better able to serve your clients (tenants).

3) Taxes are all about perspective. Many entrepreneurs coming from the W-2 world tend to only view taxes as schemes designed to unjustly take your earnings. But viewed as incentives the government has laid out for you to better serve society and the economy, taxes become a very important leg in your business. The tax code is written in a way where the government rewards people who do what they want through tax breaks. When an entrepreneur starts using the tax code, as opposed to avoiding it, not only does your business become more profitable, but you fulfill your end of the social contract as well.

4) It’s important for entrepreneurs to ask themselves not if they can, but if they should. The reason? Because if it’s a matter of “can,” through sheer grit and determination, you will. But if it’s a matter of “should,” you force yourself to think about all aspects of your life and what’s truly important. This same exact thought process is what led Steven to change paths so many times in his career, despite them going well.

If Steven could go back and talk to his 16 year old self, he’d tell him, “Understand how money works… Compound interest is really the eighth wonder of the world.”

An unexpected benefit of real estate investing, Steven said, was the ability to give back in ways that he never could’ve done on his own.

A piece of advice Steven would tell his friends looking to get started in real estate would be to “Know at least what [getting started] looks like and why that is… [then] find somebody who's doing what you want to do and add value to them.”

Steven recommends using Boxer or WhatsApp to help you communicate with those on your team.

Steven recommends reading Never Split the Difference: Negotiating As If Your Life Depended On It by Christopher Voss and Tahl Raz to help you communicate and negotiate effectively.

If you’d like to get in touch with Steven, visit: www.integrityhg.com

93: Wholesaling, House Hacking and Multifamily with Bryan Rodriguez Jul 15, 2020

If you’ve listened to our show for any time now, you know that we have a network of agents across the country that caters to the specific needs of real estate investors. Well… in this episode, we get to showcase the journey and share lessons from one of our trusted agents, Bryan Rodriguez.

Before Bryan became a real estate investor/agent, and before he knew all that he knows about the business now, he was previously an active member of the United States Army (which actually benefited him a ton starting out because he was able to utilize a VA Loan!). However, his life would change when he met his soon-to-be wife right before he got deployed to Afghanistan.

Bryan basically knew nothing about real estate, but Lana’s parents had decided to not pay for their wedding expenses, but rather, purchase a starter home instead. Instantly, Bryan understood the power of wealth building and storing that wealth in tangible assets. So as he left for overseas, Bryan read as much as he could about personal finance and real estate investing during his time there. Upon returning back to the homeland, Bryan made an executive decision that the next property they were going to buy would be a 4-plex.

And that they did. Bryan learned a ton from that first property (as most investors do), but they, Lana and Bryan alike, only got better as time went on. Up to date, Lana and Bryan are at the top of their field respectively, both as a team and as competitors.

Main takeaways from our conversation with Bryan: 1) Ignorance is bliss. After purchasing the questionable property in a questionable neighborhood and then implementing questionable tenants, Bryan got, as he called it, “A rude awakening.” He realized that despite his experience with order during active duty, property management and dealing civilians was a whole other animal. But with every challenge comes opportunity. Not only did these problem tenants teach him valuable lessons, it also allowed him to hire a brand new property manager and teach her valuable lessons as well. And to this day, that property manager still takes care of that same unit.

2) Understand landscaping. This is one of those items that usually comes with experience. So take it from Bryan. Understand how landscaping and drainage works! Water flowing into the wrong areas can easily become the silent destroyer of your property, right out of its foundation in fact. However, that also goes to say that don’t fear the unknown. Just like all aspects of real estate, items are only scary until you learn how to address them and/or deal with them firsthand. Find competent minds and find competent hands.

3) When describing his experience with commercial multi-family real estate, Bryan described the whole process in one phrase: Due diligence. It’s all about understanding your property, what you can do, what you want to do, and what you’re ultimately allowed to do. But we believe that this advice doesn’t apply explicitly only for large real estate developments. This applies to your very first investment property and all future ones after that.

If Bryan could go back and talk to his 16 year old self, he’d tell him, “Love your significant other [and] be patient, it’s going to come.”

An unexpected benefit of real estate investing, Bryan said, was the ability to preserve your capital and wealth in tangible assets.

A piece of advice Bryan would tell his friends looking to get started in real estate would be to “Take action… Worst case scenario, you get educated.”

Bryan recommends using Redfin to help you with your real estate needs because of their intuitive and user friendly interface.

Bryan recommends reading Sell It Like Serhant: How to Sell More, Earn More, and Become the Ultimate Sales Machine by Ryan Serhant to help you learn how to close deals like a pro.

If you’d like to get in touch with Bryan, contact him at (512)944-7900

Thank you to everyone that has reached out to us to connect them with our trusted real estate agents (like Bryan!) in their area! And congratulations to those who have even closed deals using our referrals! For those that didn’t know, we can help connect you with real estate investor friendly agents in your area to help you get started investing in real estate. We recently made some changes to our website that we believe will better suit you in your real estate investing needs. For more information, visit www.millennial-realestate.com and head over to the “Start Investing” Tab. Best wishes and see you in the next one!

92: Non-stop Networking and Multi-Family Syndications with Kyle Marcotte Jul 08, 2020

Not everyone who invests in real estate does so out of passion. For many, real estate is only a means to passive income, a strategic and technical machine that pumps passive wealth for as long as they choose. On the opposite end of the spectrum, there are investors out there who immerse themselves in all things real estate not only as a career, but as a lifestyle. Regardless of where successful real estate investors may fall on the spectrum, oftentimes, they can pinpoint one or several defining moments in their life that changed their trajectory forever. Kyle Marcotte began his journey at the same time he was beginning his adult life. For most of his life, he had done what he was told were the right things to do. He did well in school, behaved himself, and eventually even landed himself an athletic scholarship while attending University of California, Davis. What he quickly came to realize was that such a life may not be for him. He did not want to be told what to do for the rest of his professional life, nor did he want to lose his time at the will of others only for their benefit. Several months later, Kyle discovered Rich Dad Poor Dad and dropped out of college before the start of the next semester. He dedicated the next half of a year to learn as much as he could about investing in multi-family real estate, while networking with as many people as he can. In a relatively short amount of time, thanks to that same dedication to education and networking, Kyle was able to find a partner with experience investing in multi-family real estate and closed their first deal, which was a 107 unit apartment building. At the time of this recording, Kyle owns a total of 119 units worth over $5.5M. And aside from expanding his investment portfolio, he plans on making an even greater impact on the real estate community by teaching aspiring investors to achieve what he was able to by the age of 21.

Some key takeaways from our conversation with Kyle:

1) Get on the same page with your partner(s). Work out a budget for your business, implement systems to maximize efficiency, and leverage software and services that will allow you to manage your business more effectively.

2) Go with a property management company that has an in house team that can do the work/labor for you or will help you find people who can. As a business owner, the more time you can spend working on your business, as opposed to working in it, usually the better off everyone involved will be. In Kyle’s experience, by selecting a trustworthy and dependable property manager, he’s usually left to overlook projects instead of doing the manual labor himself.

3) How to network as a young person in a nutshell: Find a meetup and introduce yourself to the host. For the next meetup, bring a friend. For the one after that, ask the host how you can help them. And finally, ask to be a speaker for future events. By doing so, not only will you show everyone attending the meetup that you are serious about investing in real estate, but you also establish credibility and expertise. Pro tip: When joining a new meetup, don’t come in too strong, but don’t wait too long to build your credibility. Present yourself in a professional way and you will be perceived as a professional. Don’t lie about what you know, but experience always helps when establishing expertise. Above all, add value to others’ life! 4) Find ways to help people doing what you already enjoy as opposed to focusing on only making every single endeavor profitable. In the long run, we believe an investment in someone will produce a greater ROI than any monetary one will. Kyle understands that the happiness found in financial freedom eventually plateaus, but if you can stay humble and help other people, happiness is never in short supply. If Kyle could go back and talk to his 16 year old self, he’d tell him, “Define your worth internally and not how other people perceive you.” An unexpected benefit of real estate investing, Kyle said, was the ability to spend more time with his parents. A piece of advice Kyle would tell his friends looking to get started in real estate would be to “Learn the most difficult parts first.” If you can learn the things you’re not so interested in sooner, the faster you will be able to learn the things you are interested in. Kyle recommends using Slack and Asana to help you streamline your business and be more efficient online. Kyle recommends reading The Bible for the simple reason that he believes not enough people are doing it or are recommending it. If you’d like to get in touch with Kyle, visit: www.kylemarcotte.com

91: House Hacking For A Nomadic Lifestyle with Sarah Weaver Jul 01, 2020

Many people, investor or not, dream of traveling the world while having the freedom of location independence. And that’s all many of those people will ever do—dream. A great deal of said individuals will choose to not look past the self imposed limitations they have placed for themselves whether it be finance, mindset, or current circumstances.

In the case of our guest, Sarah Weaver, she began her real estate investing career without the intention of ever becoming an investor. Despite her skill and aptitude for the job, Sarah suddenly felt that in order to scale and grow her business as an agent, she had to be tied down to one place. This would be a defining moment for her in life.

Not two weeks after realizing she had been bitten by the travel bug, she began working for a company that allowed her to work remotely. Since then, she has not looked back. She has lived on four different continents and is slowly but surely approaching her 50th country to visit!

As a matter of fact, at the time of this recording, she is halfway across the world in New Zealand managing her units from a van, #vanlife, helping aspiring investors to get started doing what they love, and looking to further grow her portfolio regardless of what curveballs life throws at her. She works for a broker helping to connect real estate agents and investors together, while traveling as a digital nomad.

Some key takeaways from our conversation with Sarah: 1) When renting by the room (House Hacking or traditional investing), you can use a current tenant as a property manager. There’s already trust between you both because they have been renting from you, and they are going to be more pragmatic about choosing new, potential tenants because they are the ones who are going to be living with them. Sarah wouldn’t recommend this for every property and every situation, but if you can play your cards right, there is a great deal of leverage to be had.

2) Have real estate agents and other personnel on the ground as your eyes and ears. As much as you can look at neighborhoods on Google Maps and research crime in a given area, you won’t really know how those areas feel until you are there in person. Neighborhoods can change dramatically (for better or worse) and Google Maps doesn’t update regularly. But what if you can have other, more knowledgeable people do that for you? That’s what your team is there for! Use their professional insight to create winning scenarios.

3) “Buy the damn ticket and at least try it!” For those that want to work/invest remotely, don’t let your fear or discomfort stop you from giving yourself the opportunity to. Don’t sell your car and all your belongings right away, but give yourself a few weeks to try it. AirBNB makes it so easy nowadays to live in a fully furnished unit so there’s really never been a better time to make this dream a reality. If you feel you’re tied down to a desk, ask your boss to give you a trial run working remotely for a month. Just be an amazing employee during that month and go from there! Just like becoming an investor, get pre-approved then take action.

4) Figure out what you want, see what your options are, and pick one. Whether it be traveling, buying a property, or making a career change, there’s nothing more saddening and aggravating to the three of us than seeing someone with a lot of potential waste it through paralysis by analysis. Sometimes, all you really have to do is look at the cards you are dealt with and roll the dice.

If Sarah could go back and talk to her 16 year old self, she’d tell her, “It’s all going to be better than you imagined… the world is going to be so good to you.”

An unexpected benefit of real estate investing, Sarah said, was being able to dream bigger than she ever thought possible.

A piece of advice Sarah would tell her friends looking to get started in real estate would be to “Buy a house. Get pre approved and just do something. Your first deal is never going to be your best deal… [just] make sure it’s not your worst deal.”

Sarah recommends using Wunderlist to help you keep track of tasks within a neat, digital to-do list.

She recommends reading Switch: How to Change Things When Change Is Hard, as well as Made to Stick: Why Some Ideas Survive and Others Die by Chip and Dan Heath to help you get your mindset bigger for your business.

If you’d like to get in touch with Sarah, visit: www.addictedtoroi.com or follow her on Instagram @sarahdweaver

90: BRRRR & AirBNB to 41 Units with Shelby Osborne Jun 03, 2020

Although many individuals start out their journey to financial freedom through real estate investing on purpose, some discover it accidentally. For the case of our guest, Shelby Osborne, she didn’t realize the power of passive, rental income until she moved away from her first primary residence. For six years, Shelby served in the Military in Washington State. Not too long after acquiring her first property (not for investment purposes), she was restationed to Fort Bragg in North Carolina. Instead of selling the home, she decided to rent it out and it turned into a great asset for her. Shortly after that, she decided to pursue real estate full time by investing for herself, as well as being a top producing agent her first year, winning Rookie of the Year for Keller Williams North and South Carolina. Up to date, Shelby owns a total of 41 units which consists of a variety of AirBNB Arbitrages and multi-family rentals. Shelby prefers using private money lending as it helps her be more creative with her deals. She also finds that being creative with BRRRR (Buy, Rehab, Rent, Refinance, Repeat) allows her to do more business more successfully. Although being self-employed has its own challenges, Shelby realized that she didn’t want to be an employee for the rest of her life, and pulled the trigger (pun intended) to growing her business. Some key takeaways from our conversation with Shelby: 1) “Who knows you, likes you, and trusts you.” Many investors make it sound like private money is when random people blindly and willingly give you money to invest. In reality, it’s about finding people who know, like, and trust you with their money. It’s about creating win-win situations and making sure the private lender is knowledgeable about what you are doing and what’s happening with their money. And if you structure deals properly, not only will you create favorable terms, but you open yourself up to repeat business for future investments. 2) You can always buy cheap, but you can’t always cash flow or obtain financing. Many investors are attracted to sub-100K markets—and that’s great—but it doesn’t always work for long term buy-and-holds. Banks and other lenders typically don’t like to lend on properties worth less than $100,000 due to the little return they would be getting on their investment (the investment being financing your deal). As a result, you may be stuck with a great property that will negatively impact your bottom line because you couldn’t get financing. 3) Quick tip for investing in military markets: The property prices/values and market rents are usually determined by what the military’s housing budget is for their veterans. A simple Google search will usually provide this information for you. From there, you can assess whether it is a market you want to pursue and begin assembling your team. As an added bonus, military markets can provide solid cash flow and insulation against market downturns and recessions. Shelby Osborne’s Key Terms and Definitions: 1) BRRRRNB: The BRRRR strategy listed above with the caveat of implementing an AirBNB short-term rental, as opposed to traditional long-term rentals. (Pronounced Burr-En-Be). 2) Pentaplex: Multi-family residence consisting of five units (e.g. duplex, triplex, quadplex, pentaplex). 3) VHA: Variable Housing Allowance. The government’s compensation for active service member’s housing expenses. 4) AirBNB Rental Arbitrage: Strategy in which you rent a unit yourself, and with the landlord’s permission, sublet that unit through AirBNB as a short term rental. In other words, you act as the AirBNB host without owning the property. 5) 1% Rule: Metric that states that the rental income you receive from a property equals 1% of the purchase price. 6) Delayed Financing: Strategy in which you purchase a home with cash up front (which may or may not include the rehab costs) and then “cash out” a portion of the equity from the property. Similar to a traditional “cash-out refinance,” but you don’t finance the property in the first place because you purchased outright with cash. This can potentially allow you to bypass a typically required seasoning period for lenders. If Shelby could go back and talk to her 16 year old self, she’d tell her, “Read more and care about things that actually matter.” An unexpected benefit of real estate investing, Shelby said, was being able to turn life into a fun game. All of a sudden work becomes a puzzle, and Shelby loves solving puzzles. When Shelby’s friends looking to get started in real estate ask her for advice, she simply sends them her file of listed action steps. So reach out to Shelby and get that PDF! Shelby recommends using Audible so you can learn on the go. She recommends reading The Miracle Morning by Hal Elrod and 12 Rules for Life by Jordan Peterson to help you mentally prepare for the journey ahead. If you’d like to get in touch with Shelby, visit: www.fivepillarsrealty.com or follow her on Instagram @realestatewithshelbyosborne

89: House Hacking and DIY Rehabs with Lauren and Kyle Clugston May 20, 2020

88: Flip or Flop and One Year Update with David Pere May 13, 2020

We recently had the chance to have our guest David Pere be a part of a panel where we discuss all things seller financing (see Episode 85). In this episode, we welcome him back to hear all about what he’s done since the last time we featured him on the show. Oftentimes, people who begin investing in real estate do it to supplement their income from a salary or quit their day jobs. Back in January of 2019, David introduced to us the idea and strategies to invest in real estate while serving in the military full time (see Episode 35). And since then, David has grown his out-of-state portfolio, taken part in a syndication, dabbled around with a flip, and is currently House Hacking in sunny San Diego. Up to this point, David is still serving in the Marines full time and simultaneously growing his business. He’s having a blast doing it and shows no sign of slowing down any time soon. Some key takeaways from our conversation with David: 1) Syndications are a good way to build wealth and you can definitely learn a lot about the business, but David wouldn’t recommend jumping into it as your first investment. There are many pieces to the puzzle, and it might just be a little too complex and a little too complicated for someone just getting started. 2) Be attentive to the contractors you hire. You don’t necessarily need to micromanage your contractors and handymen, but make sure you keep close tabs on their work. Make sure to look at the work they’ve done and make sure it’s done correctly. If you don’t know what to look for, make sure to have someone who does. This can be done by a trusted colleague or a property manager. 3) Be attentive to how you bill and pay your contractors. Projects can easily go over budget and become overrun because of poor planning. When dealing with the financial side of the business, you want to make sure you are on top of when your cash flows. If you want to stay profitable, do not get careless with your money. 4) Have reserves and budget accordingly. Despite having challenges with his rentals, David stays afloat because he has security in his investments. Many times, investors only focus on purchasing as cheap as possible, but ignore how to manage investments effectively as well. “Just because you can purchase a property for no money down doesn’t mean you should,” David says. Do your due diligence and create a plan with multiple exit strategies. If David could go back and talk to his 16 year old self, he’d tell him, “Start networking immediately and be better with your money!”

An unexpected benefit of real estate investing, David said, was the thrill of the hunt. David doesn’t necessarily need to work anymore, but he still does because it’s fun and he enjoys what he does. A piece of advice David would tell his friends looking to get started in real estate would be to “Learn, network, take action.” Surround yourself with people who are doing what you want to do. David recommends using Independent Community Bankers of America (ICBA) to help you find local community banks for financing and other perks that big institutions don’t offer. He recommends reading The Like Switch: An Ex-FBI Agent's Guide to Influencing, Attracting, and Winning People Over by Jack Schafer and Marvin Karlins to help you learn about the psychology involved in social interactions (because after all, real estate is a people business). If you’d like to get in touch with David, visit: www.frommilitarytomillionaire.com or follow him on Instagram @frommilitarytomillionaire

87: Progression in Changing Markets and Out of State Investing with Jennifer Beadles Apr 29, 2020

At the time of this recording, there is a lot of talk of the upcoming recession and economic downturn. Regardless of what others may say, however, we believe that this time around is different than that of the 2008 Housing Market Crash. But at the same time, many of the strategies used to hedge against recessions still apply. That’s the big difference.

We welcome back our first ever guest Jennifer Beadles (see Episode 1) to talk about her strategies to protect her business, portfolio, and tenants against recessions.

Since the last time we spoke, a lot has happened in Jennifer’s business. She has grown her portfolio, grew her investing team, and has traveled all over the world. Many investors get caught up working really hard that they never give themselves the opportunity to scale because they want to do all the work themselves. For Jennifer, she takes multiple vacations a year for weeks at a time and somehow still manages to thrive in her business. How does she do it?

Jennifer explains that she is able to work from anywhere in the world because of the systems and teams she has created. These systems include training tenants how to contact her if they need something, having a trusted handyman to make on-call repairs, and leveraging the service of agents to bring her deals even if she’s out of the country, all the while being able to automate more and more of her work within her business as well as scale higher and higher.

Some key takeaways from our conversation with Jennifer: 1) Use data and get referrals. You can spend time conducting all your own due diligence, but what’s the opportunity cost for you in doing that? By getting referrals with trusted individuals, not only are you able to grow your team organically, but you are also able to leverage their expert, local opinions about any information you are trying to figure out.

2) Be strict and stick to your criteria. Many investors fail to achieve extraordinary results because they keep switching up their strategies and give up too soon. And they keep giving themselves excuses to make bad investment decisions. Jennifer has used the same set of criteria since she began investing a decade ago and it still serves her well. Because of it, she is confident to invest regardless of the economic climate.

3) Prepare for bad times. Many new investors try to time the market or get lucky investing when times are good. It is usually these investors who get wiped out when times get tough. Instead, make sure to plan for recessions by asking yourself if tenants can still pay rent if the market collapses, and if you can still pay the mortgage if tenants stop paying rent. Set yourself up for upside, don’t pay attention only to the downside.

4) Build relationships with small community banks. When people begin to fear the market, real estate goes on sale. That is when these local banks are there to help you the most. While other large, national banks have to abide by many guidelines and red tape, local banks can give you fast and quality service to help you get ahead in your business.

If Jennifer could go back and talk to her 16 year old self, she’d tell her, “Keep hustling!”

An unexpected benefit of real estate investing, Jennifer said, was the ability to travel and have freedom with time and money.

A piece of advice Jennifer would tell her friends looking to get started in real estate would be to “House Hack [and] start with a duplex.”

Jennifer recommends using any podcast app so you can learn more about real estate investing.

She recommends reading Tools of Titans by Tim Ferriss to help you learn more about how to succeed in your business.

If you’d like to get in touch with Jennifer, visit: www.agentsinvest.com

86: 112 Units Without Syndication with Ann Belter Apr 22, 2020

People come across real estate investing and discover financial freedom through all sorts of ways. In the case of Ann Belter, it was on some drunken night during a vacation with friends from work over some margaritas. Right then and there, she and her husband were introduced to Rich Dad Poor Dad and upon returning home, they decided that they were going to pursue financial freedom through real estate investing.

Fast forward a few months, she and her husband (boyfriend at the time), each purchased their own 4-plex with an FHA loan at 3.5% down. They were able to purchase two owner occupied homes simultaneously because they were not married yet. This was 13 years ago. As of today, they own 20 properties totaling 112 units, have retired from their W-2 jobs, and are financially independent.

If you did your math, you may have recognized that Ann and her husband got started investing during the peak right before the Great Recession. Unlike many investors at the time who were scared to invest because home values were rapidly declining, they were looking to gobble up as many properties as they can because of the great deals being made available.

What separated them from other investors? They invested for cash flow, not appreciation.

Some key takeaways from our conversation with Ann: 1) Relationships are key. Whether it’s during market downturns or to find off market deals, having and maintaining relationships with homeowners and other real estate professionals is what will propel you forward when times are tough.

2) Know your criteria. There is an abundant number of strategies and deals to be had in real estate, but that can also lead to your own downfall. By sticking to one (or a select few) strategies at a time, you are more likely to produce consistent results and create winning systems. For Ann, her criteria includes being in a close vicinity from her other properties and excludes high crime areas.

3) Establish credibility by creating win-win situations. All it takes is a book or two to learn the basic terminology and know-how to invest in real estate. By doing so, you are able to set your criteria which you can use to create meaningful relationships. Only then can you leverage these relationships and advance in your business. And that is what makes you an authority.

If Ann could go back and talk to her 16 year old self, she’d tell her, “Keep learning… It’s not about just getting by.” Read for knowledge and not only for leisure.

An unexpected benefit of real estate investing, Ann said, is the amount of time she is able to spend with her family and the opportunity to teach her children new things.

A piece of advice Tiffany would tell her friends looking to get started in real estate would be to “learn at least a little bit about real estate, read as much as you can, [and] don’t wait to get started.”

Ann uses Google Suite to be able to use a business account, have business meetings, and store her business remotely in a cloud (to be later accessed anywhere in the world for when she is on vacation).

She recommends reading Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits by David Lindahl to help you get started investing in Multi-Family real estate.

If you’d like to get in touch with Ann, visit: www.belterassociates.com or find her at BiggerPockets or Facebook @ Ann Belter.

85: Key Tips For Seller Financing with Nick Giulioni & David Pere Apr 15, 2020

The reason many people quit on real estate investing before they even get started is because of their belief in the high barrier to entry. One such barrier is being able to finance deals with limited capital and structure deals with limited experience (see Show 82). A solution many investors favor is the ability to use seller financing. As our guests in this episode put it, seller financing is when the seller has enough equity in their property and acts as the bank (or lender) to carry a mortgage on the property.

We welcome back Nick Giulioni (see Show 68) and David Pere (see Show 35) to get an in depth look at creative seller financing. Both these gentlemen have closed on several seller financed deals and are currently working to close on even more.

The reason they use seller financing is because of the ability to utilize their creativity and knowledge about the business to bypass institutional red tape that comes with real estate investing. Whereas in traditional lending you as the buyer only control closing date and purchase price, with seller financing, you can negotiate down payment, concessions, note term, interest, mortgage payment, and so much more (as much or as little as you choose, really). And if that isn’t enough, you can actually provide better means to serve the needs of the seller and solve their problems.

Some key takeaways from our conversation with Nick and David: 1) When looking to work with a seller you haven’t worked with before, establish your credibility up front. Earn their trust and ensure you are able to help each other. 2) When drafting up a seller financed note, make sure to run it by an attorney. Some states even require using a title company. Protect the seller, as well as yourself. 3) Have empathy. Put yourself in the shoes of the seller (as well as anyone else involved). By doing so, you are more likely to solve their problems, find more creative solutions, and increase the odds of having successful business. 4) Once again, seller financing directly involves working with the seller, but this is the beauty of it. Unlike lending institutions where you are constrained to “company policy and guidelines,” people are much more approachable. Therefore, you are more likely to be able to renegotiate if need be and find better, more logical solutions to any problems that may occur.

Nick uses Notion to help him sort out his documents and David uses the Google Suite to help him with all his day-to-day activities.

Nick recommends reading Atomic Habits to help you get more out of the activities you do in your life and David recommends reading Big Debt Crises in order to learn how to deal with times of financial uncertainty.

To get in touch with Nick, contact him at nick@giulioni.com

To get in touch with David, visit: www.frommilitarytomillionaire.com

84: House Hacking From Condos Into Commercial Property with Tiffany Alexy Apr 08, 2020

For those that don’t already know, we love House Hacking and think it’s a fantastic way to not only build passive wealth, but also act as a catalyst for getting started in real estate investing. It’s a great gateway strategy into larger, more sophisticated deals. However, a niche that doesn’t get talked too much about amongst beginners is commercial property investing.

Tiffany Alexi joins us in this episode to shed some light into the commercial property space and explain her journey from house hacking during college to unexpectedly becoming an owner of a commercial office building.

It all began with a single condo she purchased (and House Hacked) during her senior year of college. A few years after that, it turned into two condos. Now, this is the point in which most people would have found the winning formula and repeated this until they found financial freedom. But with Alexi, she wanted more.

Originally, she wanted to venture into larger multi-family apartment complexes, but due to the market constraints and timing, she was directed towards a commercial office building in which the numbers caught her attention. After further due diligence, and the execution of a 1031 Exchange, she sold off her two condos, and used those profits as a down payment for the new, more profitable building that has much greater potential.

Some key takeaways from our conversation with Tiffany: 1) Obtaining a real estate license is only a good idea if you know what you are going to use it for. There are fees that come with having one so make sure you get good use out of it. 2) Student rentals can be profitable, but turnover and upkeep can be costly. With a commercial property, you have one tenant, usually for years at a time. 3) Rent for a commercial property works slightly different than a residential one, but it all comes down to the lease. On the investor side, rents are calculated as (price ✕ square feet) per year.

If Tiffany could go back and talk to her 16 year old self, she’d tell her, “Get a job… The earlier you start off hustling, the better off you’ll be.”

An unexpected benefit of real estate investing, Tiffany said, was being able to have the security of financial freedom. By having this kind of security, she is able to take on more risk.

A piece of advice Tiffany would tell her friends looking to get started in real estate would be to House Hack because “it’s a no brainer.”

Tiffany uses Scannable to be able to scan important documents on the fly and transport them digitally.

She recommends reading The Sell by Fredrick Ekland to help you in your entrepreneurial venture, as well as build your business through personal branding and key relationships.

If you’d like to get in touch with Tiffany, follow her on Instagram: @tiffany.alexy

83: One and a Half Year Updates and Risk Mitigation with Diego Corzo Apr 01, 2020

Times of uncertainty and market volatility always raise concern in people’s financial lives, no surprise there. Real estate investing is no different. However, what sets apart pros is their ability to mitigate risk, plan ahead, and continue to win even when they are losing.

In this episode, we welcome back Diego Corzo to fill us in on his one and a half year update since we last spoke to him (see Episode 6). We talked about how his portfolio has grown in the past year and a half, touched on his strategy regarding short term rentals, and discussed ways he and others mitigate risk in times of uncertainty.

As of today, Diego has properties in Austin (where he resides in), Florida, and Tennessee. His properties include both short term AirBNB rentals, as well as long term residential rentals. Diego has taken up a partnership with a previous guest, Felipe Mejia (see Show 77) and is at the point in his life where his passive income generated from his rental properties are allowing him to acquire even more properties which generate even more rental income!

Some key takeaways from our conversation with Diego is that: 1) During times of difficulty, work together with your tenants and weather out the storm together. Get proof they need help and figure out a plan together. If your tenants don’t need assistance, business continues as usual. 2) Buying right is key. Just because times are good, doesn’t mean you can rest on your laurels. Instead enforce your buying criteria and increase your requirements for tenants. 3) On that note, don’t buy with little to no margin of error. Times aren’t always going to be good. 4) Pay attention to local markets and what specific activities are happening in your niche, as opposed to listening to major national news and trends. The more specific you are in your business, the better off you will be during market downturns.

If Diego could go back and talk to his 16 year old self, he’d tell him, “Tell your parents to buy you a house in college and rent it out to your friends.”

An unexpected benefit of real estate investing, Diego said, was being able to buy future properties with current passive income.

Two pieces of advice Diego would tell his friends looking to get started in real estate would be make sure you have the proper mindset and know your “why.” And before you actually go out investing in properties, get your financial life in order.

Diego uses Trulia to help in his real estate agent business because it allows him to track homes, buyers, sellers, etc.

He recommends reading The Richest Man in Babylon to help you get set with your money.

If you’d like to get in touch with Diego, find him at: ratracetofi.com, email him at info@diegocorzo.com, or follow him on Instagram @realdiegocorzo

82: Investor Friendly Financing with Nghi Le Mar 18, 2020

One aspect of real estate investing that doesn’t get nearly enough of the attention it deserves is financing. While it is great to be excited starting out, many new real estate investors fail to recognize the unsustainability of their short term mindset. They are so focused on doing what it takes to close a deal now that it actually causes trouble for them later on. This is especially true when trying to finance your first couple of deals.

Nghi Le joins us in this episode to go over how he encountered and overcame this exact roadblock. Nghi is an investor from Seattle and got started in 2015. For much of his life, he’s been in IT and software consulting. At the time, flipping was the “shiny object” so that’s what Nghi did starting out. Slowly but surely, he began to realize the pitfalls of flipping in his area. Profits were so low that he was actually making more money from his regular full time job. Plus, he didn’t have to deal with stresses and headaches of working with contractors—which actually brings us to what he and his company do now.

For Nghi, he’s always enjoyed finding, structuring, and financing deals. And early on, he recognized that conventional financing with lending institutions put him in a major disadvantage against other investors. He needed to cling onto his full time job just so he can even qualify for a loan. And to add insult to injury, many times deals would fall through without lenders having his back. Why? At that point, lenders had already collected their fees and it didn’t matter to them if the deal actually closes.

Nghi joined powers with a startup fintech (“Financial Technology”) company and they set out to provide lending services catered to investors who are facing the same problems they had when they were getting started. With their business, they seek to revolutionize the lending industry and help the next generation of investors large and small.

Update to date, Nghi’s company offers a variety of short and long term loans that don’t have the red tape restrictions that many lending institutions implement, such as quick closings and no seasoning periods. They’ve conducted business in over 10 states and are looking to continue to grow organically. If Nghi could go back and talk to his 16 year old self, he’d tell him, “Spend time learning about real estate, as well as self development… learn how to maximize a crash.”

An unexpected benefit of real estate investing, Nghi said, was having the opportunities that he’s had and being able to do what he wants all the while being one step closer to retirement.

81: What Is A Fix and List with Eric Young Mar 11, 2020

Everyone knows what a “Fix and Flip Deal” is (you can even check out Episode 26 with Steven Pesavento or Episode 47 with Ian Reeves to learn more). A lesser known strategy you probably have not heard of is a “Fix and List Deal.” What is a Fix and List Deal, exactly?

Eric Young joins us in this episode to explain that this strategy works as follows: you as the investor finds a homeowner who has a distressed property looking to sell. Then, you take your capital and renovate the property (like you would with a regular flip). Finally, the seller lists and sells the property (keeping the difference in ARV) and you get reimbursed for all your hard work!

Before Eric discovered the Fix and List strategy, he worked as a superintendent for a commercial contractor for eight years, fixing and flipping properties on the side. The problem was he couldn’t scale how he wanted and, like many people getting started in real estate, felt that the barrier to entry was too costly. So Eric set out to find a way!

Eric wanted to be able to scale his business, and not lose money on his portfolio. Fix and List Deals help him do just that! Of the 90 Fix and List Deals he’s done in the past three years, he’s only had two go sour! We’d say that’s pretty good!

As of today, Eric is currently improving his track record, as well as finding more ways to differentiate himself from his competitors. It’s not long until this strategy catches on so he’s doing what he can in order to get ahead.

If Eric could go back and talk to his 16 year old self, he’d tell him, “You’re never going to achieve your goal of making money until you help other people.”

An unexpected benefit of real estate investing, Eric said, was the power to turn a side hustle into a sustainable, long term business.

One piece of advice Eric would tell his friends looking to get started in real estate would be, “To start with a Fix and List Deal!”

Eric uses Xero to help with his bookkeeping, and recommends reading Built To Sell to help you get started investing in real estate.

If you’d like to get in touch with Eric Young or learn more about Fix and List Deals, you can find him at: www.fixandlistsecrets.com

80: Student Rentals With Ryan Chaw Feb 26, 2020

Student rentals come with a lot of preconceived notions about what they are and that they are a problematic type of rental property. This week our guest Ryan Chaw works to dispel that myth by telling us how he mitigates his risk and has turned his student room by room rentals into a profitable and manageable venture.

79: Meet The Host with Dan Mackin Feb 19, 2020

With podcasts you always hear from the hosts, but sometimes you don't get to know about them much unless you pull all the snippets together of them from every single episode. This week we get a little more in depth with one of our hosts, Dan Mackin. He walks us through how he got into real estate, where it has lead him and the lessons he has learned up to this point.

78: From 0 to 100K NET Per Year From Short Term Rentals with Diya Liu Feb 12, 2020

Short term rentals have been around forever, but it's only recently that they have become a more known investment strategy for everyone. This week we talk with Diya Liu about how she went from no rental income to over 100k NET income per year in just 13 months. Did we mention that was with just 3 properties! Diya gives us some great tips on finding those rentals and some great ways to finance them legally to where your cash flow can kill with just a few purchases.

77: House Hacking to 14 Units with Felipe Mejia Feb 05, 2020

We love House Hacking on this show and it's easy to see that. It's a relatively cheap way to get started investing in real estate and it's a reasonably easy way to grow your portfolio consistently. This week Felipe Mejia tells us how he did just that. After starting with a mobile home that he was gifted as a graduation gift he has grown to 14 units in about 5 years. It took some creativity and local knowledge, but he is on his way to a great portfolio and lifestyle freedom to do whatever he wants.

76: Starting Real Estate Investing While Being A Broke Med School Student with Chiagozie Fawole Jan 29, 2020

It's time for our first physician on the podcast! Chiagozie currently works as a Pediatric Anesthesiologist in upstate New York. During her time as a med student and resident the reality of being dependent upon a constantly changing industry for her income did not sit well. During that time she discovered real estate investing. Over the past few years she has gone from doing her first flip where she lost money to adding over a dozen units to her portfolio to start offsetting her dependency on the medical industry. For many investors their investments aren't a way out of their job that they love, it's just a way to make it so that they can continue to love what they do and provide long term stability for themselves and their families.

75: House Hacking With a Family In An Expensive Market with Sunny Burns Jan 22, 2020

Many stories of investors seem to have everything line up to make it as simple as possible. They are single or have no kids, live in an area that home prices seem reasonable and just don't seem to have any big road blocks. This is why a story like this needs to be told. Sunny Burns has plenty of excuses he could have come up with to not start investing, but he and his wife pushed past those and made things happen. They invest just outside of New York City with kids and have made the whole scenario work. No matter what your excuses are there is almost always a way around them.

74: Structuring Deals Through Social Media and Intentional Posting with Zamontae Stinson Jan 15, 2020

There are many ways to structure a deal when it comes to real estate. No matter what the deal is there always needs to be 2 things.

1. A property

2. Funds

While those two will come in many different forms it's pretty inevitable that they will be needed to structure a deal. Our guest this week Zamontae Stinson helps bring those 2 parts together. By utilizing his network and some intentional social media posting Zamontae has helped bring some big deals together. It's a special way of making things happen and there are some great tips to follow. Take a listen!

73: Expensive Markets and Partnerships with Emma Pace Jan 08, 2020

While many of us like to complain that our market is too expensive to invest in there are those out there who just make it work. This week we talk with Emma Pace, our first Canadian investor on the show. She lives in the notoriously expensive market of Toronto, but has found some ways to make her investments make sense to save her cash, build cashflow and have a great portfolio. She tells us how utilizing sub markets can be hugely beneficial and how leveraging a partnership can build some great mutually beneficial situations that may not have worked individually.

8 Tips To Get Started In Real Estate Investing In 2020 Dec 30, 2019

The new year is here and like many people out there you likely have goals to better yourself in 2020. While for some that may be their physique, for others that will be their well being. A big part of having a better life is to have better control over you money. One way that many people do this is through real estate investing. While it is a great way to make your life better it also takes some knowledge to do it correctly. This show is to get you some quick tips to get started so you use your time effectively and get yourself started in real estate investing sooner. Don't forget to check out our show from January 2019 "Seven Steps to Your First Real Estate Deal in 2019" for more tips on getting started.

Show Update And News Dec 10, 2019

We've been away for a bit now and wanted to let everyone know what's going on.

70: Ben's Assisted Living Home Update and Brandon Schwab Flashback Oct 31, 2019

69: Learning Landlording By Trial and Error with Brentin Hess Oct 23, 2019

Within real estate investing there is a trend that seems to happen where many of the posts and articles you read make things seem super easy. They put a lot of glam onto the industry to make it sound like anyone can do it. While there is some truth to that statement there also lies the true world of real estate investing. It can be a hard lesson sometimes, but with some perseverance things can go in your favor.

While that does not mean you will not continue to have lessons along the way it can be the determining factor between someone who succeeds in the industry and someone who fails. This week Brentin Hess tells us both sides of his experiences. From failing on his first flip to averaging 35k+ per flip. Also lessons about what running low income rentals are truly like and why systems and processes are a big deal if things need to run smoothly.

68: Investing Out of State While Maintaining a Fulfilling Career with Nick Giulioni Oct 09, 2019

When listening to podcasts about real estate investing there is a common thread that you hear. "I want to retire early with real estate". While that's a sexy story it does not apply to the majority of investors who get started. Real estate investing is a great way for many people to give themselves some financial runway to allow them to take bigger risks with their career and live a happier and easier life. Our guest this week has done just that.

Nick Giulioni works a job that he enjoys in the bay area of California. While the job is fulfilling he realized that there are still great ways to make life less risky. To reduce that risk Nick started to invest in real estate. Due to being in the bay area that wasn't something he could do locally to accomplish his goal of cash flow. So Nick started to research around the country and landed on Indianapolis. In just over 2 years Nick has accrued 45 units through a myriad of methods and he shares with us today how he accomplished that feat and how it has changed his life.

67: Creating a Winning Mindset to Succeed at Real Estate with Daray Olaleye Sep 25, 2019

One of the truly toughest hurdles when it comes to getting into anything as committed as real estate investing is your mindset. With all of the potential speed bumps and mental blockades there is plenty to keep any investor from succeeding. Keeping a positive and beneficial mindset is one of the best ways to continually move forward towards that goal of using real estate to improve your life. This week we talk with Daray Olaleye about how he changed his mindset to help him start achieving the life he desired. After multiple hiccups and road blocks Daray has progressed to a better life and now helps others improve their mindset to make the most of their life.

66: From 0 to Dozens of Deals a Year with Scott Swaggart Sep 18, 2019

Working your way into the world of real estate can be a daunting one if you take some odd steps, but one way to quickly accelerate the process is to find some great partners and push your numbers to the top. Scott Swaggart got started just a few years ago and has managed to work his way up to doing dozens of flips, selling millions worth of residential properties and becoming one of the top brokers in his market. He tells us how to set up efficient systems and teams to be able to scale and dominate whatever market you're working allowing your company to grow and help other investors along the way.

65: Creative Seller Financing With Zachary Beach Sep 11, 2019

Sometimes there is a box that is meant to be broken. With the world of seller financing in real estate there always seems to be the same answers. Most of the time you hear things like, "give them interest they're happy with" or "You'll likely have to give them a down payment". What if we told you that there are many cases where neither of those is true. In this episode our guest Zachary Beach tells us how he and his family get consistent seller financing deals that have 0% interest and no money out of pocket for a down payment. Yes, these are real deals. Take a listen.

64: 1 Year House Hack Update and Book Release with Craig Curelop Aug 28, 2019

With the upcoming release of "The House Hacking Strategy" from Craig Curelop we felt it was time to check in with him on where he is with the strategy. For this episode we did a quick check in to see how he has moved into hack #3 and some quick lessons from hacks #1 and #2. Then we go back into his original episode from last year to show where he has come from. Enjoy!

63: Important Wholesaling Lessons For Scale with Chad King Aug 21, 2019

Sometimes, heck almost all the time you need to have some failures to learn what works. Within real estate investing this is the case all the time. Chad King has had plenty of successes over the past couple years with his wholesaling business, but it took a lot of fails to get there. The old adage of "just copy someone else who is successful" is something it took him time to really learn and realize. After trying all the "new tricks" to get deals coming through the door he started to go back to tried and true methods and guess what?! They worked. Now Chad is part of a thriving wholesaling business that is expanding every year and is on a path to really create a name in the real estate investing space.

62: Jason Lewis Live at Real Estate | BARE Aug 15, 2019

In close to 20 years of investing Jason Lewis has had a lot of successful investments and developments. He followed some great principals and was able to keep his projects profitable and continued to make them worthwhile investments. Recently Jason got into some new investment types such as mobile home parks and self storage. Well, let's just say he has learned some hard lessons in those niches and he's here to tell you about it. Be sure to listen to Jason's original episode #30 where he talks about what has lead him to this point.

61: Mark Ferguson Live at Real Estate | BARE Aug 08, 2019

This week we are featuring a special episode from the first Real Estate | BARE event. This is the talk from Mark Ferguson of InvestFourMore.com

Mark has been investing in real estate for almost 20 decades and needless to say he has learned a lot of lessons in that timeframe. In this talk he walks us through his story and how he has taken those lessons to build a growing and sustainable business that has been able to survive the long haul while still increasing in profits along the way.

60: Networking in Real Estate - How, Why and When Jul 31, 2019

Networking, arguably one of the most important things you should do in real estate investing. This industry is all about relationships and those are what can take you from mediocre to successful. Meeting great people comes up so often as an unexpected benefit of investing in real estate that we had to make a caveat to our weekly question.

"Other than meeting great people, what is one big unexpected benefit of real estate investing?"

Whether you're just starting in real estate or have been in the game a while it's worth while to make networking a part of your regular routine. This can be in person, online, over the phone or however you decide to make it happen. Relationships will get you further so why not build them from the start.

59: Utilizing Great Business Planning and Systems To Expand As A Real Estate Developer With Prady Tewarie Jul 24, 2019

Real estate is a great source of semi-passive income for many people. What a lot of investors don't talk about though is that there are times where it can get quite boring. This is the case for Prady Trewarie. After purchasing multiple buy and hold properties it became clear that he had reached a goal, but needed more. He proceeded to morph into multiple other businesses including larger apartment developing in the Boston, Massachusetts area. By utilizing great systems and team building ideas Prady has grown his business by leaps and bounds and has shown that he can stave off the boredom by working on intriguing projects to keep him driven for even bigger goals.

58: Creating A Scaleable Wholesale and Flipping Business While In College With Harper Jones Jul 17, 2019

Some things are best started early. This week Harper tells us how he just took the leap and got into his first real estate transactions while still in school. While partnering up and getting to dozens of deals a year he has created a business that can do well in his local market without having to expand outside borders to be successful. We learn how he and his partners are able to structure fantastic funding partnerships for their rehabs to make them more cost effective and easier to manage. Whether you're looking to do your first deal or have been in the game for a while there is something in this episode for everyone.

57: Building a Thriving Wholesale Business by 23 with Gonzalo Corzo Jul 10, 2019

Running a thriving wholesale business by age 23 may seem impossible to some, but Gonzalo Corzo joins us this week to prove that it's not if you just follow a plan and put in the work. Gonzalo tells his story about how his brother, Diego, first introduced him to real estate and personal development when he was 19 and then he found a mentor who he interned under for free until he decided to make real estate his full time work. Gonzalo does an amazing job of describing the details of a successful wholesaling business so that anyone could follow in his footsteps. We break down how to find deals, how to build a team and so much more.

56: The Secrets of Pre Foreclosures with Chantal Duame and Peter Hu Jul 03, 2019

For almost every new investor the idea of purchasing pre foreclosures seems to come up fairly quickly. With technology today they are more easily found by even your regular home buyer on websites like Zillow. While they may be easy to find, working with them is a whole different animal. This is where Chantal and Peter come in. For the past few years they have been building up a specialty of working with pre foreclosure homeowners to help them solve their predicament. They help these homeowners by determining their best path forward whether it be selling outright, bankruptcy, working with the bank or a few other options. While not every homeowner becomes a sale for them, they have built a business with the true intent of helping others in hard situations get themselves back on their feet which in turn has caused their business to thrive. Helping others first can bring so much more to your business than you can imagine.

55: 203k Rehab Loans and BRRRR House Hacking With Matt Porcaro Jun 19, 2019

Matt Porcaro feels like he has tried it all when it comes to making money outside of a 9-5 job. Whether it be stocks, real estate or affiliate marketing he has dabbled in it all. Well this wouldn’t be a good real estate show if we didn’t talk about how he finally found success on the real estate side of things. Specifically we talk about what a 203k loan is and why it is such a great product to get started in real estate investing. So many people want to flip or do rehabs to properties, but many don’t know where to find the money to do it. Well with a 203k loan or similar (HomeStyle) you can purchase and rehab the property all under one loan! Matt tells us how doing just this helped him get started and allowed him to continue in the real estate world all for less than $10,000 to start. If you’ve heard of BRRRR or House Hacking this takes both and we may as well call it BRRRR Hacking.

54: Overcoming Boundaries and Finding Your Passion With Matt Aitchison Jun 12, 2019

Matt Aitchison gave himself a rough start to his adult life. After getting expelled from high school and ending up in jail he caught a break by having the charges dropped. He found a job working for a local flipper for free and slowly began running his projects. As time progressed Matt realized that he could run his own flips and got into the game. After doing hundreds of flips and creating multiple thriving businesses he has discovered his true passion in life. By helping others discover freedom through real estate investing Matt is bringing value to others on a daily basis.

53: BRRRR and Househacking to 64 Units with Austin Carroll Jun 05, 2019

52: The Secrets of Wholesaling with Josh Morse May 29, 2019

Josh Morse joins us this week to talk about the successful wholesaling business that he has been part of building and the ways that anybody can do the same. Josh went from selling wholesale electronics to buying deals and selling them to other investors without any prior real estate experience. He gives us an inside look into how he was able to do this by partnering and learning as they went along. Josh is part of LVN Real Estate (which may sound familiar from Kyle Doney's show, episode 13), which operates throughout Colorado and also recently started Proper Home Sale in North Carolina. If you are interested in wholesaling and going big quickly, this is the show to check out!

51: Financially Independent in 2 Years Using Short-Term Rentals with Zeona McIntyre May 22, 2019

Zeona McIntyre joins us this week to tell her story of how she used short-term rentals to go from college student to financially independent in 2 years. Zeona currently owns several of her own properties and also manages over 25 other rentals all over the world for people who want in on the business but don't want the headache of managing their properties. We talk through the model that takes advantage of sites like AirBNB or HomeAway to create very profitable rentals in areas where people want to visit. It is possible to become financially independent with out a couple of these properties. This isn't a topic we have covered very often so be sure to tune in this week. Enjoy the show!

50: How to Be an Expert at Finding Opportunity in Real Estate with Nick Balzano May 08, 2019

Nick Balzano joins us this week to talk about how he has grown his real estate portfolio through some very challenging (and creative!) projects over the last few years. Nick invests locally in Rhode Island at the same time as he works his day job in construction management. He leverages his construction knowledge as his competitive advantage to find deals that most people would overlook. We talk through his first 4 unit property that required a complete rehab and how he was able to complete the project by putting in his own sweat equity. We also go over Nick's commercial property that houses various light industrial companies in an old bus depot. If you are wondering how to make real estate work for you or just looking for another perspective to find deals, Nick is an awesome example of how to keep your eyes open for opportunity everywhere. We hope you enjoy the show!

49: 25 Debt Free Rentals to Financial Freedom with Ben Dao May 08, 2019

Ben Dao joins us this week to share the wisdom he has gained from acquiring and self-managing 25 rentals over the last 7 years. Ben decided he needed to be a real estate investor at 18 years old when he made the decision that he needed to be successful and saw real estate as the best way to do that. He started with a complete rehab of a 4 unit building and has continued to build a portfolio that allowed him to quit his full time job. Ben shares some interesting ways he has been able to maximize cashflow on these homes, including lease options, buying single family homes and buying with all cash. Ben also runs the Big Time Dreams Podcast and The 5 Minute Landlord Podcast so be sure to check out the links below!

48: Slow and Steady Reliable Income Through Real Estate with Julie Kent May 01, 2019

Julie Kent joins us this week to tell her story of how she accidentally got into real estate investing, but has continued to intentionally build her real estate portfolio over the last few years to provide reliable passive income. Julie's strategy is to use real estate as just one piece of the puzzle to building a strong financial foundation. She also invests in other assets and we talk about why she builds her portfolio the way she does. For anybody who likes what they do but wants to build your real estate portfolio on the side, this show is a must-listen!

47: Partnerships, Flipping and BRRRR to Financial Freedom with Ian Reeves Apr 24, 2019

Ian Reeves joins us this week to talk about how he quit his 9-5 job as an engineer to become a full time real estate investor. Ian spent several years climbing the ladder at the engineering company he worked for, but didn't feel fulfilled. I know a lot of us can relate. He started searching for something that would be more fulfilling and let him live life on his own terms, which eventually led him to Rich Dad, Poor Dad. Over the last 5 years Ian has used the BRRRR strategy, partnerships and house flipping to build a business that gave him that freedom. He now owns over 120 rentals with partners and is flipping 4 houses a month. We loved his story because it shows what can be accomplished in a short amount of time with focused effort. Enjoy the show!

46: Investing Out of State as a Commercial Broker With Kevin Andrews Apr 17, 2019

Kevin Andrews joins us this week to talk about his journey from corporate finance to full time investor and commercial broker. Kevin is a commercial broker in Denver and also invests out of state in Indianapolis after buying his first house hack several years ago. He has some great wisdom to share about how he has been able to buy his properties, what to look for when investing out of state and how he is recycling initial cash to continue building his portfolio. We also talk about how he chose his market and what types of metrics were important in that decision. In addition to his own investing, Kevin's experience as a commercial broker allows him to give us some great insight into how to effectively build relationships with brokers.

45: Utilizing BRRRR to Acquire 10 Rentals in 2 Years With Jenny Bayless Apr 10, 2019

Jenny Bayless got started in the real estate investing game in 2016 when she decided that her current market (Washington DC) was too expensive to purchase a rental. She initially started by purchasing some turnkey properties in a cheaper market, but things quickly changed. After moving to Denver soon after Jenny and her husband found the market of Colorado Springs. They soon realized that the rental market was strong and still affordable compared to the higher priced Denver market. Utilizing hard money and creative refinancing methods they have been able to amass 10 single family rentals in just 2 years all while having a more limited amount of cash to get started. If you're thinking about utilizing BRRRR or even just single family rentals this is a great show.

44: Launching A Turnkey and Syndication Company Right Out of College with Antoine Martel Apr 03, 2019

Antoine Martel joins us this week to talk about how he was able to start investing straight out of college and help retire his parents within two years by selling turnkey properties (and much more!). Antoine and his family started by experimenting with the BRRRR strategy in Memphis right after he graduated college. He goes through the research that he did and the ways that he built a team of people that he could trust that eventually led to him and his family doing 10 deals their first year. More importantly though, that initial work set the foundation for them to do 60 deals the next year and are on track to do over 100 this year, along with moving into 4 other markets. Antoine and his family just started with basic steps but kept building and continued to help more people invest with them. After starting with BRRRR properties and gaining the trust of private lenders (aka family and friends), it was only logical to sell some of these to allow other people to invest with them and now the next logical step is to buy apartments and allow those same people to keep investing with them.

43: Everything You Need to Know About Financing Your First Rental Mar 27, 2019

Are you ready to buy your first deal but unsure how to finance it? This show is for you! We walk through some of the common types of financing for buying your first rental property and how you can put yourself in the best possible place to get a loan. We also talk about the importance of understanding how to use debt wisely in real estate. By using leverage, you can have control over assets worth 4 to 5 times as much as the cash you put into the deal, which means you have multiple opportunities to grow your wealth. Loan Preparation Checklist - Two months of bank statements - Two pay stubs - Previous two years tax returns and W2s - Previous 2 years of business tax returns (if applicable) - Copy of your drivers license - Deal financials (not required but can be helpful)

42: Creating Multifamily Syndication Deals at 24 with Dylan Marma Mar 20, 2019

Dylan Marma from Rand Capital joins us this week to tell his story about how he got started in real estate and how he made his way to Rand Capital to do large multifamily investing. If you haven't heard of Rand Capital, it is the investment company behind Jake and Gino and Wheelbarrow Profits.

Dylan's story is a great example of what focus and hard work can achieve in this industry. He started by moving across the country and joining a real estate education company, where he became their youngest director of sales, then began building his portfolio of single family homes. Before too long, he realized that multifamily investing was the direction he wanted to go. Be sure to tune in to the podcast to hear about how he connected with Jake and Gino.

If you haven't listened to the Wheelbarrow Profits podcast or any of Jake and Gino's other education material, definitely go check them out!

41: Unbeatable Cash Flow and Purpose in Senior Housing with Brandon Schwab Mar 13, 2019

Can you even imagine making $10,000 every month from one single family home? That's exactly what Brandon Schwab figured out how to do with his business model. Brandon previously owned 23 single family homes before selling them all the minute (or maybe month) he saw how independent senior housing could be run. Brandon walks us through his investment strategy of buying large single family homes and converting them into senior housing with varying levels of care. We talk through why this business makes so much sense from a demand perspective but also how he is creating such a valuable service in the lives of his tenants. This investment strategy is definitely more time consuming than some up front, but could set you up for financial freedom fast if you go all in. Check out the links below to learn more or to partner with Brandon.

40: 16 Units Towards Financial Freedom in One Year with Bo Kim Mar 06, 2019

Bo Kim joins us this week to talk about how he made the decision to start investing across the country and managed to grow his portfolio to 16 doors in his first year. If you have ambitions of getting started in real estate but feel overwhelmed by getting started, Bo is a great example of how to jump in. He explains how he decided where to invest, then his strategy for buying and financing his properties. We also talk about buying turnkey properties, delayed financing for the BRRRR method, seller financing and partnerships. Bo has a very straight-forward approach to his investing that is repeatable and consistent. Bo also runs the site biggercashflow.com and the Instagram page @BiggerCashFlow so go check them out!

39: 147 Units by Age 27 with Garrett Hawk Feb 27, 2019

Garrett Hawk joins us this week and his story of how he has acquired 147 units at 27 years old is amazing! Garrett dropped out of college at 19 to start buying rental properties in the small college town where he lived. We talk about his journey through many different businesses (including owning gas stations!) and what eventually led him back to real estate, where he grew his portfolio to 56 units with his own money. Since then, he has become an expert on finding ways to partner and leverage equity to keep growing his portfolio and help others invest in real estate. We loved Garrett's story because it proves that if you educate yourself, then provide value to others, there's no limit to what you can do in this business.

38: From Bankruptcy to 150 Deals a Year with Nathan Brooks Feb 20, 2019

Nathan Brooks joins us this week to talk about his journey from bankruptcy during the last downturn to building a thriving turnkey company in Kansas City today. Nathan runs Bridge Turnkey and is on track to do over 150 deals this year. We talk about what it takes to bring your business from solo-entrepreneur status to a world-class business and what it looks like to be a great leader. Sometimes the key is to know yourself and know what you shouldn't be doing in your business. Nathan is a wealth of knowledge about real estate. This show is packed full of great advice, including what to look for in a turnkey provider so that you don't get burned.

37: Guaranteeing Your Own Future Through BRRRR Investing with Lauren Clugston Feb 13, 2019

How do you guarantee your own financial future rather than depend on outside factors? Lauren Clugston is a New Jersey-based investor who, along with her husband, is planning for retirement early. They are following a proven method of buying rental properties for less than market rate, fixing them up and holding them for the long-term. We go into a lot of depth on their first deal, a duplex, which they bought out of foreclosure and put in all their own labor to now live in it and rent the lower half. Lauren walks us through what the HUD bidding process was like and extra things to look for when you're trying to finance a foreclosure. Be sure to go check out Lauren's Instagram page linked below for some great real estate content!

36: House Hacking to Development by 26 with Ciro Affronti Feb 06, 2019

Ciro Affronti owns 12 units today and has one of the most creative development stories we've ever heard. He started by house hacking and has continued to house hack but is also exceptionally talented at finding creating his own deals by finding ways to add value to unique properties. We walk through a development project that was recently completed where Ciro and his father purchased a 3 unit property, then developed 3 more apartments on the same peice of land (where the pool was) and added another bedroom by connecting an outdoor shed. He goes through how he found the deal, what they look for, how to analyze a deal like this and how to fund it. Ciro has also written an e-book called The Millennial's Guide to House Hacking and runs a blog at MillennialHouseHacking.com.

35: Investing in Real Estate While Serving in the Military with David Pere Jan 30, 2019

Is it possible to become a millionaire while serving in the military? David Pere, owner of From Military to Millionaire, joins us this week to talk about his plan to become a millionaire and become financially free while serving in the military. We talk about the many benefits to investing while you're in the military including using VA loans, "military house hacking", investing from a distance and even the reasons why you should rent to other members of the military. He also uses his platform, From Military to Millionaire, to help others realize that it is possible to build wealth while serving. Go check it out below!

34: Large Multifamily With a Team Mindset with Brent Kawakami Jan 23, 2019

Brent Kawakami joins us this week to share his story of how he grew his investment business exponentially over the last few years. After starting with a couple single family homes, Brent decided that investing in multifamily properties was the best way to scale his business. He has now invested passively in one syndication and has sponsored his own large multifamily syndication (along with another one under contract). We talk about why the team aspect of investing has allowed him to be so successful. Brent is part of the Think Multifamily group and does a great job of explaining why he decided to partner up with them. We go through the many ways that being part of a team like this can help you, including finding deals, funding deals, double checking due diligence and so much more.

33: Inspecting A New Property - What to Look For Jan 16, 2019

This week we sat down with a couple guys who know a thing or two about what to look for and what can can go wrong with a property. Vadim and Jason from Veteran Property Services and Veteran Roofing joined us to go through some of the most common problems that get missed when an investor buys a new rental property. By far the largest item that they mentioned was the roof. We talked about why it pays to get an actual roofing contractor in to look at the roof and how to go about finding the right company to help with that.

We also go through tips on materials to use in a rental and the best ways to do certain types of renovations. There are so many things to learn in RE so add a few more to your list this week.

Hope you enjoy the show and it saves you some money!

32: House Hacking Million Dollar Homes With Lucas Hall Jan 09, 2019

Lucas Hall got into real estate to impress a girl. And it worked out really well! (He also ended up marrying her) Lucas is a Denver-based investor who owns property around the country, including a couple million dollar row homes in Washington DC, which he started by house hacking by the bedroom. He has since moved out of that house hack, but still rents by the bedroom instead of renting to one family. We talk about some great advice for how to market the property, how to set up the lease and how he has never ever had a vacancy in over 5 years of ownership (seriously!). Lucas also works for Cozy, the online property management platform, so we talk about how a platform like Cozy helps enable him to manage his properties from halfway across the country.

31: Seven Steps to Your First Real Estate Deal in 2019 Jan 02, 2019

Happy New Year! Thanks for joining us for another trip around the sun! To start this year off right, here is our list of actionable steps to get your first (or next) deal done in 2019. ONE: Figure Out Your Goals Before you do anything else, take a step back and ask yourself "what do I want to get out of real estate?" There can be a lot of answers to this question, but here's an easy place to start: do you want to be active or passive? And do you have cash or not? There are a million ways to accomplish your goals in real estate, but here are a few types under each goal and episodes that go into detail on each one: Active Investment Options Wholesaling:

Kyle Doney - Show 13
Jaren Barnes - Show 22
Steven Pesavento - Show 26

Flipping:

Anson Young - Show 5
Nate Boyer - Show 12
Daniel Eisman - Show 18

Buy and Hold Investment Options House Hacking

Diego Corzo - Show 6
Craig Curelop - Show 9
Jason Lewis - Show 30

Brrrr Investing

Alex Felice - Show 25

Syndication

Eric Bowlen - Show 3
Danny Randazzo - Show 14
Ben Leybovich and Sam Grooms - Show 19

TWO: Get Educated Listen to podcasts, read books, participate in forums, look at deals, network. Do everything you can to gain enough knowledge so that you can speak the lingo and understand what makes a good deal. There are unlimited resources available to a new investor that all you have to do is search and put in the time to learn. A great resource for this is Sam Rust's episode where he lists all the education sources he used to close on a 64 unit property within 8 months of starting. THREE: Figure Out What You Can Buy This looks different for each type of investing, but figure out what you can afford. If you intend to flip houses, you will need to know how much cash you have access to, which can be through partners, investors, your own cash or hard money loans. If you intend to buy and hold, make sure you have your bank financing mostly in place before you start looking. This doesn't mean you need to have every detail nailed down, but you should know how much you can afford and be sure you can close if you get an offer accepted. FOUR: Research Your Market This can mean the market you live in, but it doesn't have to. We would recommend looking in your local market first to see if the numbers work, but if they don't work for what you need find another market that does! Here are some basic things you should know about the market you are investing in: how many homes are being listed and sold, the average price for the type of property you want, the average rent amount, the economic drivers and the average income. FIVE: Look For A Deal This step is most likely going to involve a few different methods and don't give up when you don't get the first deal you like. A few different ideas to find deals are: connect with a local agent (we can help with this, click here!), network with other investors, mail letters to people who are likely to sell, get in touch with a wholesaler and look daily at online listing sites. SIX: Analyze (a lot!) Start analyzing every deal you can. The more practice, the better. Get online and start running numbers on every potential deal you can find. When the right deal comes through, you will be much more likely to know it. SEVEN: Make an Offer Congrats, you found a deal that makes sense! Now it's time to make an offer. You need to write your offer with the intention of giving the seller confidence that you are going to close. This might mean including a pre-qualification letter, proof of funds or making your offer clean by only using the contingencies you need.

30: The Trifecta of Big Real Estate Investments with Jason Lewis Dec 26, 2018

Jason Lewis has done almost every type of real estate you can think of and we dig into as much as we can in the hour that we spent with him. We talked about his belief that house hacking is the single best way to get into real estate investing and why Jason believes you should never stop house hacking. We also talk about some unique projects he has taken on, including the conversion of a horse barn into self-storage and some "vacation hacking" at Lake of the Ozarks. Along with managing Ecospace, a brokerage in Denver, Jason continues to invest around the country and look for any way possible to add value to real estate.

29: Scaling From 1 to 65 Units in 8 Months with Sam Rust Dec 19, 2018

On Christmas Day, 2017 Sam Rust sat down and read Multifamily Millions from cover to cover and decided that he would buy a multifamily property in 2018. Eight months later he closed on a 64 unit property in Colorado Springs, Colorado. Sam used a method known as syndication and we talk through the entire process of how he was able to get this deal done in such a short amount of time. We go through how to build relationships with brokers, how to analyze a deal, how to raise money, how to structure the syndication and how to manage the property to hit profit targets. If you are thinking about multifamily real estate syndication, this episode is a great guide that walks through the entire process and shows that doing a deal like this is completely possible in your first year.

28: The Real Estate Way to Wealth and Freedom with Jacob Ayers Dec 12, 2018

Jacob Ayers is aiming towards 1,000 doors by the time he turns 30 years old and we talk about how he plans to get there. We love his story this week because it represents so many millennials who have that feeling that there has to be something more. Jacob started with a couple creative deals that we talk about in detail that gave him the ability to experiment and also gave his investment portfolio the strong foundation it needed to keep growing. We go into some the advantages to being a new investor like blazing past hurdles you didn't even know were supposed to be challenging. Jacob also runs The Real Estate Way to Wealth and Freedom podcast where he has interviewed a ton of awesome guests. Be sure to check it out!

27: How to Network and Build A Booming Family Real Estate Business with Brooks O'Hearn Dec 05, 2018

Start a booming real estate business with your entire family at 20 years old? Sure, why not! Brooks O'Hearn joins us this week to talk about how he pitched this idea to his family when he was 20 and they have since grown the business into a successful machine doing over a dozen high-end fix and flips a year. Brooks has mastered the art of networking to find deals and increase the visibility of his business. We talk about some of the strategies he uses for meet up groups and online presence, but also talk about networking with agents to find the best deals.

26: Flipping and Wholesaling 150 Deals in 2 Years with Steven Pesavento Nov 28, 2018

Want to know how to do over 150 deals in your first two years in real estate? Steven Pesavento shares his story this week of how he leveraged skills he had outside of real estate, found mentors, found partners, started buying deals 2,500 miles away and has successfully done 75 deals a year for the last two years. Steven gives a ton of great advice on how he was able to scale his business so quickly and take a few risks that enabled him to leave a career in management consulting and pursue real estate full time.

25: WTF is BRRRR Investing and Optimizing Your Business With Alex Felice Nov 21, 2018

24: Lessons Learned in Memphis and Out of State Investing with Ben Welch Nov 14, 2018

We take a different direction this week by putting Ben in the hot seat. In addition to getting to know Ben a little better, we dig into his Memphis properties to talk about why Memphis, why multiple units and what his plans are for this property. We also talk through some hard lessons learned about dealing with tenants and out of state investing. For anybody just getting into investing or considering investing out of state, we hope you enjoy this episode and please reach out if you want to know more about anything we talked about.

23: Creating Financial Freedom through "Subject-to" Purchases with Ryan Nickel Nov 07, 2018

Ryan Nickel joins us this week to dive deep into yet another way to invest in real estate and create financial freedom. Today we're talking all about "Subject-to" purchases. Ryan walks us through the details of how he creates a win-win situation for his sellers when he buys houses subject to the original loan on the property then sells them again using seller financing. This delta creates monthly cash flow and very little risk across his portfolio. If you are looking for a creative way to get into real estate or another avenue to diversify your investments, this is definitely an episode to listen to. In addition to owning a large portfolio of homes across three states, Ryan has also written a couple books (which we listed below) and runs the Bootstrap REI Facebook group.

22: Scaling a Wholesaling Business, Why Branding Matters and Going Full Time in Land Investing With Jaren Barnes Oct 31, 2018

We had a lot of fun talking to Jaren Barnes this week. We covered everything from wholesaling to marketing to land investing. Jaren is currently the Senior Creative Director at RETipster, but has also worked as a wholesaler, worked as one of BiggerPockets first employees, and makes a full time living from land investing.

Whether you are into wholesaling and land investing or not, Jaren shares a ton of lessons learned about marketing, finding deals, and how to scale a real estate business that anybody can learn from. You also can't miss Jaren's energy and passion for real estate.

21: Land Investing and How to Never Lose Money with Seth Williams Oct 24, 2018

This week's show covers an entirely new topic that we have not talked about before. We talk to Seth Williams from RETipster.com about his career in land investing. Seth has been an active real estate investor since 2008 who has mostly focused on buying and selling raw land (along with some rentals). He also runs RETipster.com, a resource that he has put together to compile some hard earned lessons in real estate. In our conversation about land investing, we talk about Seth's process for how to find motivated sellers, where he looks for land, how to never lose money, some creative ways to cashflow on your land and a unique investing strategy involving international coffee farms.

20: Ultimate House Hacking Guide for Millennial Real Estate Investors Oct 17, 2018

19: Everything You Need to Know About Multifamily Syndication With Ben Leybovich and Sam Grooms Oct 10, 2018

Ben Leybovich and Sam Grooms joined us for a great conversation on multifamily syndication. Ben has been investing in real estate since 2006 and is a frequent BiggerPockets blog contributor and a three time guest on the BiggerPockets podcast (along with at least a dozen other real estate podcasts). Sam is a CPA who, prior to joining WhiteHaven Capital, managed SEC reporting for a multi-billion dollar company and has invested in over $25 million worth of multifamily deals. Today, both are active multifamily syndicators who have a wealth of knowledge to share. We talk about why they love multifamily real estate, how to find good deals, and why the purchase cap rate doesn't matter (as long as you have a plan!).

18: Full Time Real Estate Investing From Big Wholesales, Flips and Rentals With Daniel Eisman Oct 02, 2018

Daniel Eisman started investing in real estate about 4 years ago. Starting with rental partnerships that went south and progressing up to building a personal portfolio of rentals and transitioning into a full time flipper and wholesaler. He has successfully completed multiple wholesale assignments worth over $50,000. He teaches us how finding a big deal can just take the right knowledge of what is happening in the area. Sometimes a typical flip may not make sense, but a full redevelopment can bring in the big money.

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