Racking Up Rentals

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Don't Wait Until You're Ready Aug 31, 2022

Show notes

You've got big plans, goals and dreams….but are you ready to pursue them? Humans crave comfort, and comfort comes from perceiving that you're "ready" for whatever you going to undertake next in your life. But do you need to wait until you're ready? Is waiting until you're ready actually hindering your progress? In this episode, Jeff discusses the illusion of readiness, and offers five reasons why you should NOT wait until you feel "ready" to pursue your next endeavor—whether that's buying a rental property, starting a business, leaving your job or anything else.

The Danger of Confusing Price and Value Aug 26, 2022

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"How much does it cost?" These words roll so naturally out of our mouths when presented with an opportunity to buy something. But is "how much does it cost" really the right first question? In most cases, no. Why? Because we don't yet know enough about the thing we are potentially purchasing, to evaluate it if it's really a good VALUE. In this episode, Jeff discusses the difference between price and value, and explains why as real estate entrepreneurs, we need to be far more focused on value than price, or else we will miss many entrepreneurial opportunities to make massive financial headway.

Find Ways to Say Yes to a Deal, and Reasons to Say No Aug 22, 2022

Show notes

A talented and experienced Thoughtful Real Estate Entrepreneur has the skills and tools to make deals work that most other investors can't. And that's a great thing! But should a real estate investor say yes and do every deal they can, just because they can find a way to make it work? No, they shouldn't. In this episode, Jeff discusses the critical importance of holding two ideas in a healthy tension: finding ways to say yes to a deal, but finding reasons to say no to a deal. When we have the talents and skills to make deals work, paired with the discretion to turn down mediocre opportunity, we make better decisions.

Mastering Mobile Home Investing, With Adrian Smude Aug 02, 2022

Show notes

Have you ever considered investing in mobile homes as rental properties? For many of us, it's an interesting and intriguing idea, but one we're not very familiar with. Mobile homes are an asset class within real estate investing that for many people is loaded with stereotypes, generalizations and even stigma. In this episode, Jeff interviews mobile home investing expert and author of "How to Buy Mobile Homes," Adrian Smude from Lifestyle REI. Adrian and Jeff have a wide-ranging conversation, discussing everything from the 3 different ways to invest in mobile homes, to seller financing for mobile homes, to relationship-based negotiation with the Seller, and more.

Why Working Direct With the Seller is So Much Better Jul 28, 2022

Show notes

As Thoughtful Real Estate Entrepreneurs, we have a core thesis about how we do business. It's our strongest belief and the guiding principle for how we go about building wealth through real estate. It says, "Designing your entire acquisition and finance strategy around relationship development directly with Sellers creates better outcomes for BOTH them and you." In this episode, Jeff breaks down this thesis statement into its many parts and explains the importance of each one. Check out this episode and you'll find yourself even more excited and committed to growing your rental portfolio as Thoughtful Real Estate Entrepreneur.

Every Deal Simply Comes Down to This Jul 12, 2022

Show notes

When it comes to working directly with sellers—especially with seller financing or other creative financing—creating the right deal structures can admittedly seem a little complicated. But ultimately, every deal simply comes down to three simple things: 1) what are you giving me? 2) what am I giving you? 3) what form does the things we are giving each other take? In this episode, Jeff breaks down this simple framework in detail and provides examples of how to answer each of these three questions.

Build a Portfolio You Love Jul 08, 2022

Show notes

Most people will tell you that real estate investing is all about the brain—looking at numbers and making purely rational decisions. These same people will tell you that they love any property that makes them money. That may be one type of "love," but there's another type of love as well: truly loving the properties you own themselves. In this episode, Jeff discusses that there is great value and benefit in building a portfolio of properties you truly love.

The Danger of Confusing the Seller Jun 27, 2022

Show notes

Let's face it, real estate is a complex topic. From numbers to forms and documents, to terminology, there's a lot that has to be discussed between Buyer and Seller. In the world of sales and marketing, it's often said that "a confused mind always says no." The same is true for Sellers. You can have the best offer or proposal in the world, but if the Seller feels at all confused by any or all of it, their default response will be to say 'no.' In this episode, Jeff discusses the importance of not only making a great proposal, but presenting that proposal in a way that the Seller can follow and understands well.

Properties Aren't Bought by Investors…They're Sold by Sellers Jun 16, 2022

Show notes

As real estate investors growing a portfolio, our perspective on the world is that we BUY properties. But really, it would be more accurate to say that Sellers SELL properties. Why? Because there's no transaction unless the Seller would prefer to trade what they currently have (a property and situation) for something different that they would consider "better." In this episode, Jeff explains that when we reorient our perspective to appreciate that properties aren't actually bought, but rather sold, it helps us see that the game we are really playing in our acquisition efforts is the game of Seller Relations—the process of gaining empathy to facilitate a conversation in which the Seller can clarify exactly what they would be willing to trade their current property and situation for. When we successfully navigate Seller Relations, we get Sellers to say "yes" to our proposals.

Is Everything Truly For Sale At The Right Price? Jun 06, 2022

Show notes

You've heard the expression before: "everything is for sale at the right price!" But is it that actually true? No, it's not. It's close, but not quite accurate—and the distinction is an important one for Thoughtful Real Estate Entrepreneurs to understand, if they are to get the 'yes' they need from their Sellers. In this episode, Jeff explains why it's not true that "everything is for sale at the right price," and explains the more accurate statement: "everything is for sale when you can give the Seller something they'd prefer to have more."

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