Multifamily Legacy Podcast

Latest Episodes:

118: Shift Happens: Basic Steps to Create Legacy Wealth May 26, 2020

Show notes

What three basic steps should you take to win and be successful in this new COVID-19 environment and where we're at economically?

Today, I'm talking about what you need to do right now to set yourself up to make multifamily legacy wealth for sexy cashflow and a crazy good life.

Topics on Today's Episode:

Student, Teacher, Coach, and Mentor: Never quit, always be learning
Step 1: Build relationships with brokers and call them to bring you deals
Step 2: Call money and share what you're doing with friends, family, and others
Step 3: Underwrite deals using software; multifamily is all based on numbers

Links and Resources Mentioned:

Quotes:

"Shift Happens: Change is already on its way."

"Always be learning. Never quit or be afraid to fail."

"Find Commonalities: What do you like to do for fun?"

"Three Basic Steps: Call brokers, call money, and underwrite deals."

Don't forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

117: Stay in Motion: Communication is Key May 19, 2020

Show notes

After months of sitting at home with bad haircuts, relief is on the way from COVID-19. Places are slowly starting to come back to life. There couldn't be a better time to get in the multifamily real estate industry.

Today, I'm talking to Michael Becker, principal at Strategic Property Investment (SPI) Advisory LLC. He derives stakeholder value through multifamily-focused hands-on asset management and construction oversight.

Topics on Today's Episode:

Portfolio Perspective: Normal month with not much difference equals success
Bad State of Legislation? Rent controls, eviction restrictions, and blocking loans
Pay, Vacate, or Provide Proof: How to handle hardship cases
Foreseeable Future: Money to adjust system means asset price inflation, low interest rates
Income Inequality: Everyone is worried, and rightfully so
A- and B-Class Housing: Will workforce and college students return?
Operational Changes: Focus first on life, safety, security, and collecting rent
Liabilities and Loans: Understand the risks and reset debt expectations
Maintain Relevance and Stay in Motion: Plenty of people are ready to buy

Links and Resources Mentioned:

SPI Advisory LLC
Old Capital Podcast
Multifamily Legacy Podcast Episode 094: Talk is Cheap, Show Me the Check
The ABC's of Real Estate Investing by Ken McElroy
The Advanced Guide to Real Estate Investing by Ken McElroy
Fannie Mae
Freddie Mac
Kahuna Boardroom (Early Bird Special is $5,000)
Kahuna Investments (Deal Room)
Mastermind Group
Copy Your Way to Success
Quick Start Workshop
Multifamily Legacy Podcast on YouTube
Multifamily Legacy Podcast on Facebook

Quotes:

"If you're in California, New York, or some of the more landlord-unfriendly environments, it could be a little bit worse." Michael Becker

"We're in the permanently low interest rates environment, at least for many years, with a ton of money going in the system. I don't see any way that the asset prices remain." Michael Becker

"The current prescription to medicine, and the pain that we're in economically, can do nothing to solve income inequality." Michael Becker

"We're not driving anywhere. Let's surf on the net. That's where SEO, having good Websites, having virtual tours, that means everything, right now." Corey Peterson

Don't forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

116: COVID-19: Making Asset Protection Great Again May 12, 2020

Show notes

Everything's fine, everything's right—until something goes wrong. Are your assets well protected? Is everything set up and structured properly? The first line of defense is always insurance.

Today, I'm talking to Mauricio Rauld, a real estate syndication attorney. Two common themes due to the COVID-19 crisis are people wanting to put together opportunity funds to acquire new assets and then protect them.

Topics on Today's Episode:

Asset Protection: Protecting you from your assets, and your assets from you
Real Estate Assets: Property owner is legally responsible for protecting others
Limited Liability Company (LLC): Property owner is no longer you, but an entity
Does it matter where LLC is registered? Local law applies, not LLC's location
How do you protect your assets from you? Charging Order Protection
Digital Privacy: Don't put a target on your back when it comes to assets
Separation is Key: S Corp, LLC, and SEC issues with fees
Lenders and Loans: No secure lending in foreseeable future; negotiate

Links and Resources Mentioned:

Mauricio Rauld's Email
Premier Law Group
Mauricio Rauld on YouTube
Freddie Mac
Robert Kiyosaki
Kahuna Boardroom (Early Bird Special is $5,000)
Kahuna Investments (Deal Room)
Mastermind Group
Copy Your Way to Success
Quick Start Workshop
Multifamily Legacy Podcast on YouTube
Multifamily Legacy Podcast on Facebook

Quotes:

"What most people forget is they themselves are these huge liability producing entities—people." Mauricio Rauld

"What happens if you get sued? Forget about the assets, but you get sued, and now somebody has a judgment against you and wants to go after your asset." Mauricio Rauld

"The goal of asset protection is to build that barrier between you—the individual—and you—your asset." Mauricio Rauld

"The key is to separate your liability producing activities—your operating companies—from your asset companies—your holding companies." Mauricio Rauld

Don't forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

115: Retirement: The Real American Dream May 05, 2020

Show notes

Everyone has to start somewhere, and real estate is an incredible journey. Who do you know that I should know?

Today, I'm talking to Jens Nielsen, who didn't start in real estate until he was a middle-aged man. It's never too late, simply ask for help and guidance. What's the worst that could happen?

Topics on Today's Episode:

Financial Freedom: Buy four-plex properties with capital to create cash flow
Carry the Note: No payments for 10 months and 10% down for 11-unit property
Education, Events, Expand Network: You don't know what you don't know
Masterminds, Mentorship, and Coaching: Build confidence and invest in yourself
Brokers, Investors, Friends, and Family: Bring something, someone into the deal
Syndications: Next phase of real estate journey by adding value to team
How to talk to investors—understand and answer questions
Future Freedom: Looking forward to four more years and leaving full-time job
Overnight Success? 10 years in the making; take action, start small, and grow

Links and Resources Mentioned:

Jens Nielsen's Email
Open Doors Capital
The Slight Edge by Jeff Olson
Kahuna Boardroom (Early Bird Special is $5,000)
Kahuna Investments (Deal Room)
Mastermind Group
Copy Your Way to Success
Quick Start Workshop
Multifamily Legacy Podcast on YouTube
Multifamily Legacy Podcast on Facebook

Quotes:

"In the multifamily space, a lot of people want to help. They want to share. There isn't the mindset of abundance." Jens Nielsen

"Tenants are actually paying my mortgage and getting some cash flow every month." Jens Nielsen

"Hang out where money's at." Corey Peterson

"The easiest way to learn this business is to add value to others and jump on." Corey Peterson

Don't forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

114: Multifamily Properties: Three Mistakes To Avoid Apr 28, 2020

Show notes

Getting stir crazy due to the COVID-19 crisis? The sooner we can get back to work, the better. About all you can control during this difficult time is your attitude. Stay positive.

Today, I'm talking about three mistakes that you must avoid in the multifamily space. There is no 'Easy' button. Doing the right thing involves communication, compassion, and community.

Topics on Today's Episode:

Mistake 1: Avoid accepting checks from tenants
Solution: Set up, register, and pay via automated clearing house (ACH)
Mistake 2: Avoid not owning your software
Solution: Install your software, then give access to management company
Mistake 3: Avoid paying bonuses for people doing their job
Solution: Pay bonuses for profitability and being proactive as incentive

Links and Resources Mentioned:

Kahuna Boardroom (Early Bird Special is $5,000)
Kahuna Investments (Deal Room)
Yardi
AppFolio
Rent Manager
Mastermind Group
Copy Your Way to Success
Quick Start Workshop
Multifamily Legacy Podcast on YouTube
Multifamily Legacy Podcast on Facebook

Quotes:

"I cannot stress enough the power of having an ACH set up. You should be using it, you should adopt it, and you should make it just part of what you do." - Corey Peterson

"It only makes sense to own your data." - Corey Peterson

"Your profit's made in your budgeting, in your staff, in your people, and your systems." - Corey Peterson

"It should be a reward to get a bonus." - Corey Peterson

Don't forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

113: Time Means Everything when it comes to Real Estate Apr 21, 2020

Show notes

Still locked in your house because of the COVID-19 crisis and watching real estate unfold? Were you among those who predicted this downturn?

Today, I'm talking to Kathy Fettke, co-CEO of Real Wealth Network and best-selling author of Retire Rich with Rentals. Also, Kathy hosts two podcasts, The Real Wealth Show and Real Estate News Podcast.

Topics on Today's Episode:

Black Swan Event: Experience necessary during downturn for real estate deals
Greatest Weakness: Not having someone on team as naysayer
Bridge Loans: Short-term loans harder to get, make sure to have back-up plan
Big Bad Landlord: Communication is vital to tenants and lenders
Temporary Fix: Dilute the dollar by lifting asset values
Fundamental Problem: Too much bad debt; find stable areas that can recover
L, U, V Recession: Listen, learn, and prepare for all economic recovery scenarios

Links and Resources Mentioned:

Kathy Fettke
Real Wealth Network
Retire Rich with Rentals by Kathy Fettke
The Real Wealth Show
Real Estate News Podcast
Kahuna Boardroom (Early Bird Special is $5,000)
Freddie Mac
Fannie Mae
Lehman Brothers
Tony Robbins
Zoom
Mastermind Group
Copy Your Way to Success
Kahuna Investments
Quick Start Workshop
Multifamily Legacy Podcast on YouTube
Multifamily Legacy Podcast on Facebook

Quotes:

"If you're going to keep assuming that things are going to be great forever, you're wrong. It never is." Kathy Fettke

"People want to see what they want to see. They want to believe what they want to believe." Kathy Fettke

"Bridge loans, I had those in 2008. You know, that didn't end well for me. Even if my deal was fabulous, in 2008 there was no liquidity. It just disappeared." Kathy Fettke

"The better you are at, the more you get to pay Uncle Sam." Kathy Fettke

"Time means everything, sometimes." Corey Peterson

Don't forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

112: Positive Mojo: Turning Pain Into Profit Apr 14, 2020

Show notes

Let's talk about the other side of pain. How are you using this time and space during the COVID-19 craziness? There's still a lot of hope and opportunities—some more deals down the road.

Today, I'm talking to Ramon Gonzalez of Summit Home Buyers and Both On Board Podcast about how we can make a difference by serving others. If your only calling is to make money for yourself—money is fleeting. There's more value in people, relationships, and impact.

Topics on Today's Episode:

Conscious Choices: Get closer to goal, or move away from it out of fear or love
COVID Conversations: What will the next few years look like? What do you want? How much is enough?
Alignment: No excuses, do what you want to do personally and professionally
No Control: Slow down, live in present, and get more done by doing less
Work/Life Balance: Create compassionate communities and closer to family
New normal? BC and AC—before Corona, after Corona—different but better
Passive Income: Why get into it? Your life won't change
Relationships & Recommendations: What you know, who you know to add value

Links and Resources Mentioned:

Quotes:

"Relationships are everything...especially when stuff like this hits the fan." - Corey Peterson

"Things are evolving where you can put in less and get more. The outcome isn't money—even though money is the second byproduct—the outcome is impact." - Ramon Gonzalez

"What's way more valuable is people, relationships, and impact. That's my currency." - Corey Peterson

"Anytime I have an opportunity to give, we give." - Ramon Gonzalez

"The two pieces in this multifamily business: Deals and money. They both are driven by relationships." - Corey Peterson

Don't forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

111: COVID Chaos: Don't Lose Your Assets Apr 07, 2020

Show notes

The crazy chaos of COVID-19 continues. Despite gloom and doom during fearful and uncertain times, opportunities arise to make millionaires.

Today, I'm talking to Dan Handford from Passive Investing. He describes what to expect the future to look like in the multifamily space.

Topics on Today's Episode:

COVID-19: Impacts assets and effects unemployment claims, loan rates
Ups and Downs: Divorces, marriages, and births vs. multifamily demand
Options: Weather the stock market storm and find temporary alternatives
Loans and Lenders: Banks still healthy, capital available, and flexible extensions
Constant Communication: Inform and reassure investors and lenders
Next Generation: Multifamily means involving the entire family
Presentation for Prospective Investors: Brochures, newsletters, and brand guide
Sentiment Mindshift: Donate distributions to those tenants who need help
Property Prep: Reduce non-essential spending, requests, renewals, renovations
Shelter-in-Place: Everybody's suffering, educate investors and raise capital
ABCs: Higher the return, higher the risk; lower the return, lower the risk

Links and Resources Mentioned:

Quotes:

"Millionaires get made in fear and uncertainty." Corey Peterson

"Demand for multifamily apartments is still strong in the long-term." Dan Handford

"There's more capital in the market today than there has ever been." Dan Handford

"Do the right thing, always, and you'll never have to wonder or worry." Corey Peterson

Don't forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

110: COVID-19 Craziness: What's The State of Multifamily? Mar 31, 2020

Show notes

Everyone is struggling with the isolation and stress of an unknown future due to the COVID-19 pandemic. You're not alone. Constant communication is crucial between owners, operators, tenants, vendors, and investors in the multifamily space.

Today, I'm talking to Nitzan Mosery of Cornerstone Investment Partners, Maureen Miles of 4M Capital Real Estate Investments, and Mike Flaherty of L5 Investments. They provide powerful and valuable insights into the current state of multifamily investments.

Topics on Today's Episode:

State of Multifamily Market: Constantly changing due to COVID-19 impact
Take Care of Tenants: Incentives, waive fees, discounts, payment plans
Take Care of Staff: Avoid layoffs, stay working, and stay safe
Rent's Due: Set expectations but be supportive, flexible, and compassionate
Best Gift Ever: Help those in need, whether it's toilet paper or coloring books
Capital Market Loans: Private lending up; commercial mortgage-backed security (CMBS) on pause, Fannie Mae and Freddie Mac still going strong
Time to buy? Refinance? Debt remains, lending is available, buy at right price
Cash is King: Stay calm, conservative, and stable; with risk comes reward

Links and Resources Mentioned:

Quotes:

"It's a mess out there, right now. It's just a big question mark. I think it's a wonderful time to pause, listen, and learn." Mike Flaherty

"Right now, it's preservation—preservation of capital, preservation of residents, preservation of the asset." Nitzan Mosery

"We're doing everything to make sure everybody stays working and employed. Trying to take advantage of this the best we can, while keeping everybody safe." Maureen Miles

"People are amazing. There's a lot of people that want to step up and do good." Corey Peterson

Don't forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

109: Time and Money: Why Multifamily Investing is Best Game to Play Mar 10, 2020

Show notes

When you wake up in the morning, how are you going to make multifamily apartment investing work? How are you going to make money? How are you going to make that money repeatedly?

Today, I'm talking about why multifamily apartment investing is not only the best, but the only game to play to win. My passion for passive income came from apartment life. The problem with most people is that they're just in the wrong spot.

Topics on Today's Episode:

Stock Market Correction: Stay the course or go fishing for money
Early Bird Special: $2,500 discount for Kahuna Boardroom, now costs $5,000
Five Years: Average time to hold multifamily property before selling it
What are you doing now? Fix and flips, or wholesaling? Switch to cash flow
What's your net worth right now? Probably not what you want it to be
Other People's Money (OPM): If you've got OPM, easily transition your capital
Golden Handcuffs: Like your job, make a good income, but it's never enough
Cost Segregation: Make more when you play the game that wealthy people play

Links and Resources Mentioned:

Quotes:

"People don't make rational decisions when it comes to their money." Corey Peterson

"The best time to go fishing for money is when the stock market is in shambles." Corey Peterson

"It's not what you make, it's what you keep or what you don't pay to Uncle Sam." Corey Peterson

"That's what we want, time and money, and to have that money replenish each and every month. That's called, 'rent's due.'" Corey Peterson

Don't forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

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