Millennial Real Estate Investor

Latest Episodes:

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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

Show notes

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!

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