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    Business

    Real Talk with Leigh Brown

    Real Talk with Leigh Brown
    🎙️ Formerly Crazy Sh*t in Real Estate

    Shatter the HGTV-induced veneer of real estate! On Real Talk with Leigh Brown, nothing’s off-limits. Whether it’s the real estate roller coaster, housing policies that make no sense, or the unpredictable chaos of working with people, Leigh brings bold stories, smart perspective, and a whole lotta sass.

    It’s the truth behind the transactions, from deals that go sideways to the moments that remind you why this work matters. If you’ve ever felt like no one’s saying what really goes down in real estate… you just found your people.

    Pull up a chair. You’re in good company now.

    Never miss a beat from Leigh by visiting https://leighbrown.com

    DM Leigh Brown on Instagram: @leighthomasbrown
    DM Leigh Brown on Facebook: https://www.facebook.com/LeighBrownSpeaker/
    DM Leigh Brown on LinkedIn: https://www.linkedin.com/in/leighthomasbrown/

    Advertise
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    Latest Episodes:
    205 - Rik Rushton on the Harbor of Opportunity Jul 02, 2020
    Show notes

    Are the winds of change blowing you into the harbor of opportunity or plastering you to the couch with a bowl of snacks? Rik Rushton, a peak performance coach, speaker, and author challenges you to use this time to grow and improve. Whether you're looking to build authentic relationships or expand your expertise, this episode will give you a glimpse into what it takes to earn trust, live a life filled with gratitude, and propel yourself towards your dreams. Listen in to hear Rik's journey towards authenticity and discover what he's learned about his relationships with his clients and kids in the process.

    Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you're tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special "CSIRE" discount code at checkout for $10 off your subscription.

    • 01:00 – Introducing Rik; he entered the real estate industry in 1989
      • 02:00 - He had good intentions but didn't have the skillset; he had a broker offer to help him grow his expertise and he began the path of personal development
      • 03:00 - By 1993 he was in a leadership position and by 1998 he bought the company, which he sold in 2016
      • 04:10 - He believes your decisions dictate your future and we're here to be in gratitude and abundance
      • 04:25 - He's busier than ever; he's on Zoom a lot
    • 06:20 - Rik's CSIRE story
      • 06:40 - He was working to sell a home for someone who ended up not even being the homeowner; it was a test of authenticity
      • 07:50 - He was Âľ of the way into the sale of the home when he found out he was dealing with the tenant, not the owner
    • 09:00 - Another CSIRE story
      • 09:05 - He got a call from someone wanting to "get a feel for the market"; they didn't know where they were moving
      • 09:40 - The woman was very effervescent and the man would just grunt answers; they told him they were splitting up and she was going to marry her female best friend
    • 10:20 - The lessons
      • 12:40 - This is where interpersonal skills come in; sometimes you get blindsided and learn new ways of living and being from clients
      • 13:00 - You don't build trust; you earn it with empathy, connections, and relationships
      • 15:00 - In 1998 he told himself he wasn't ready to write a book on authenticity; now he feels he has more life experience and that perfectionism got in the way
      • 16:20 - Don't be the one to tell yourself "no" and don't be judgemental of others; your job as an agent is to get people to a better place
      • 18:20 - He's learned so much about his children, too, and the fact that the world they're living in is so different; they need strong roots and foundation
    • 20:55 - How to find Rik: his website or email at rik@rikrushton.com; you can also find his book and TedTalk there
    • 22:35 - "Work harder on yourself than you do at your job." - Jim Rohn
      • 23:10 - Use this opportunity to work on yourself and grow; the winds blow on everyone, some use the winds to propel their dreams and others let themselves be held back

    3 Key Points

    1. Wake up with gratitude.
    2. Everyone's trying to move to a better place.
    3. You need a mentor in order to grow and improve, no matter what industry you're in.

    204 - Hear Leigh Browns Story, Interview by Greg Fowler Jun 25, 2020
    Show notes

    Plot twist! This episode is an interview of yours truly by Greg Fowler on the Real Estate Titans podcast. Whether you think you already know everything there is to know about me or you've always wondered what I'm all about, this episode is a deep-dive into the real, uncut life and inspirations of Leigh. Listen in to hear my journey, what I've learned along the way, and why I'm so damn excited about real estate.

    Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you're tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special "CSIRE" discount code at checkout for $10 off your subscription.

    • 02:45 – Introducing Leigh
      • 03:00 - She's originally from Concord, North Carolina, has been in real estate for 20 years and previously sold chainsaws, lawnmowers, and weed trimmers
      • 03:45 - She's got a husband, two kids, and three cats; she runs, plays piano, and sings
    • 05:00 – Why Leigh chose real estate
      • 05:05 - Her father has been in the industry since 1978; she helped her dad as a kid and he made her get her license "just in case"
      • 05:24 - She bartended in college, became a stockbroker, then went to Husqvarna to work in sales
      • 06:50 - They moved her around and she didn't want to move anymore, so she called her dad and he recommended she get into real estate
      • 07:08 - She loves the industry especially the spaces she had no idea existed before she dove in, like speaking, training, and brokering
    • 08:20 – Leigh's "WHY"
      • 08:40 - In retail real estate, she primarily works with sellers; she gets excited when she helps people navigate the minefield of real estate
      • 09:10 - She loves the drama and the interesting things that happen unexpectedly
      • 09:13 - One time, a closing blew up because the buyer got in a car accident and no longer had down payment money; she had to problem-solve through it
      • 09:45 - With speaking, Leigh is motivated to help others elevate their position in real estate; she falls in love with other people's potential
      • 12:00 - She's always thinking about the highest and best use of her time and recommends everyone do the same for their unique service offering
      • 14:00 - Leigh learned that her big why wasn't simply in the numbers of homes sold; she wanted to make a difference in a significant and impactful way
      • 15:22 - In 2009 she started volunteering at the association and saw what others were doing in the space; she's been a different person since
    • 16:45 – About RPAC - The REALTORS® Political Action Committee
      • 18:35 - They do the work of what would be a National Association of Homeowners if we had one
      • 18:45 - The RPAC goes in to fight fires with facts about regulatory burdens, bad zonings, and affordability issues
      • 21:00 - REALTOR® political advocacy is powerful; it's been shown to make an impact nationwide
      • 24:00 - It's important to talk about the benefits of homeownership; Millenials are spoiled by swanky rentals and that's why they aren't buying
      • 24:51 - The American homeowner rate is 61.4%, but we should be at 67-68%; the African American homeownership rate is 42.6%, it's too big a gap
      • 26:15 - Homeownership means financial stability and everyone needs to be educated on that; that's where REALTORS® need to come in
    • 27:00 – How to get involved
      • 27:07 - Go to NAR.realtor and look at the resources available; use them to educate people, neighbors, and clients
      • 29:00 - Demonstrate who you serve with your marketing; look at diversity and commonalities
      • 30:35 - Research, go to your association and remember that you are at the cornerstone of homeownership
    • 35:50 – A couple of things that Leigh added to her business to get to the next level
      • 36:05 - Outbound phone calls; all you need for your real estate business is already in your hand
      • 37:45 - In her office, everyone does at least one outbound call a day; say "If you need me call me back"
      • 38:20 - The secret sauce to real estate is hard work and discipline; Millenials who make outbound calls are way ahead of the game
      • 39:00 - Send out stationary and send out snail mail; it doesn't have to be hard, 5 notes a day and one call a day will make your business grow
      • 39:40 - Real estate is about being likable; you need to be competent and knowledgeable but likeability comes first
    • 41:00 – Learning experiences
      • 41:20 - Financial discipline; Leigh learned this the hard way when she got a bill from the IRS for $19,000 at 25-years-old
      • 42:30 - Prepare for lean times; always pay your state DOR first before the IRS because they're more aggressive
      • 43:50 - Get incorporated to benefit your bottom line; give back first and there will always be enough
      • 45:45 - She wants to help more NAR members own homes because 30% don't own
      • 46:30 - She loves her team and realizes how valuable they are; she's also learned how to say "no"
      • 48:30 - She has learned how to thank her client's and appreciate their willingness to accommodate and help, too
      • 50:30 – Advice Leigh would give her younger self
      • 50:42 - She would tell her younger self to give 0 f*cks; she cared too much about what others thought
      • 51:30 - When she found her voice, she didn't what to put it away; she would recommend listening better and hugging people more
      • 52:11 - Slow down, listen, adapt if you want, but don't be afraid to say what you think; the way you say things matters more than what you say
    • 56:00 – On learning
      • 56:30 - She's a bibliophile and she works with Dan Sullivan inside Strategic Coach
    • 01:00:00 - Leigh's books: Outrageous Authenticity, 7 Deadly Sins of Sales, and Peeling the Onion

    3 Key Points

    1. Speak up and ask!
    2. Don't forget to think about and nurture others.
    3. Reach out, get involved, listen, and build better relationships.

    203 - Legally Maximize Your Profits with Dave Foster Jun 18, 2020
    Show notes

    Tax-free. Now that I've got your attention, Dave Foster, the founder and 1031 Exchange mastermind behind The 1031 Investor, is a pro when it comes to leveraging tax codes to maximize your investments and sell them tax-free. Whether it's for investment properties or even your primary residence as a real estate professional (in Dave's case, a boat for 10 years!), there are ways to legally maximize your profits with every transaction. Listen in to hear Dave's strategy and investing advice — and learn how it has worked for his family and clients.

    Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you're tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special "CSIRE" discount code at checkout for $10 off your subscription.

    • 01:30 – Introducing Dave, who got into real estate after having his son and wanting to spend more time with family
      • 02:10 - He and his wife didn't want to sacrifice their lives to a career; they got into the last real estate rush before the crash and bought a property in Denver
      • 02:55 - His accountant broke the news that, after taxes, he actually didn't make much profit for all the work; then he learned about the 1031 exchange
      • 03:30 - Now, for the past 20 years, he's been doing them for himself and others
    • 05:30 – Dave's CSIRE story
      • 05:45 - He and his wife turned a real estate investing career across four different markets into a sailboat that they lived on for 10 years with all four of their boys
      • 06:30 - They used investment money to pay for it and used Section 121 for their primary residence
      • 07:00 - On Section 121: If you live at a property that you own for 2 out of 5 years, you can take the first $500,000 in profit tax-free
      • 08:00 - You can use that once every two years; it's not a once-in-a-lifetime opportunity so you could take profit tax-free 8-9 times over a lifetime
      • 08:50 - You don't have to keep your 1031 real estate as investment real estate forever; he and his family combined the 1031 and Section 121 to pocket the profit
    • 10:40 – Another CSIRE story
      • 10:50 - One of the homes they lived in was a set to a movie called Reservation Road; then they went to Florida
      • 13:00 - He has friends that are leveraging the 1031 Exchange and Section 121 to fund their retirement
      • 13:55 - 1031 Exchanges require the use of an intermediary and a QI to make sure everything aligns with the law; there are regulatory hoops to pass
      • 14:50 - Real estate that qualifies for 1031 Exchange must be intended for use and to hold; Dave had a friend who wanted to sell after a month
      • 15:20 - He did intend to hold it, which was in a contract, but the tenant moved out unexpectedly due to a bear that moved in next to her trash can
      • 17:25 - He did the 1031 Exchange and everything was fine; the intention was there
    • 17:50 – Dave's piece of real estate investment advice
      • 18:00 - You make money when you buy, and you keep your money when you sell; as long as you own the property or sell it into another 1031, you'll never pay the tax
      • 19:00 - When you die, it doesn't matter how much tax you have built up; your heirs get it as though they paid market value for it so that tax goes away
      • 19:22 - Buy it right, sell it right, and enjoy making money for yourself and your heirs
    • 19:55 – How to get in contact with Dave: his website and go here for a $50 coupon on your next 1031 Exchange deal

    3 Key Points

    1. Get educated on the 1031 Exchange.
    2. Research Section 121 and see how you can leverage it!
    3. Don't do something just because you think you can get away with it but don't not do something because you're afraid of getting questioned about it.

    202 - The Biggest Disruptor in the Real Estate Industry with David Greenspan Jun 11, 2020
    Show notes

    Need some motivation? David Greenspan the founder and CEO of MindShare 101, has got some inspiration for you! Whether you're an early bird or a night owl, there's no excuse for not checking things off your to-do list and moving towards your big goals. Listen in to hear what David thinks about online "pollution", what he thinks we should be doing instead, and what he finds to be the biggest disruptor in the real estate industry today.

    Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you're tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special "CSIRE" discount code at checkout for $10 off your subscription.

    • 00:30 – Introducing David, the founder and CEO of MindShare 101, the host of the MindShare podcast, and a speaker, marketing strategist, and coach
      • 01:00 - His company helps people provide value, get their message across, and get in front of their ideal client
    • 03:20 – The CSIRE that David's seeing recently
      • 03:25 - Business has not stopped; this will be over soon and you want something to show for it
      • 04:04 - People are very active on social media; he's seeing a lot of "pollution" in Facebook groups, people feeling like victims while attacking others
      • 04:40 - When people read your words, they don't get the full communication of what you're saying, so be careful
    • 07:00 – The lesson
      • 07:35 - Help people, watch your words, and make the world a better place; don't be negative and selfish
      • 08:00 - Ask yourself: What have you done to communicate with people to see how people are doing, offer support, and build relationships?
      • 09:05 - Be genuine; when this is all over, your relationships will be huge for you, personally and professionally
    • 10:30 – David's CSIRE stories
      • 11:00 - He's seen people at conferences take fake money from underneath a marketing booth as part of a marketing gimmick
      • 11:25 - People complain about time management, money management, and business growth; he had a client who didn't start his workday until 4 pm
      • 12:45 - Not everyone is an early bird; as long as you get done what you need to in a day, it's ok
      • 13:25 - He knew another person who watched a movie every morning when he woke up; it's fine to do that unless you complain that you don't have time
    • 15:00 – For consumers
      • 15:20 - Ask if your REALTOR® is an early bird or a night owl; it could impact the way you communicate
    • 16:05 – On the biggest disruptor in the real estate industry
      • 16:09 - People embracing technology are the biggest disruptor; 70% of business comes from referrals, but people spend 70% of their dollars on new contacts
      • 19:40 - Referrals are going to be more important than ever
    • 20:45 – How to get in touch with David: his website, Instagram, and his podcast

    3 Key Points

    1. Be careful about what you share online. Don't pollute.
    2. Use this time to get some work done!
    3. Leverage referrals whether you're a consumer or a REALTOR®.

    201 - Trashed Homes and Shady Infrastructure Regulation - Jeff Schechter Jun 04, 2020
    Show notes

    Want to become a real estate investor without all the heavy lifting? Jeff Schechter, the CEO and co-founder of High Return Real Estate, has created a solution for investors who want to add more real estate to their portfolio without adding more headaches. Because he lives and works in Indianapolis, Indiana, his clients rest easy knowing he and his team are just a hop and a skip from their properties. Listen in to hear Jeff's crazy experience with trashed homes and shady infrastructure regulation - and learn how to make sure you're up-to-date on the local politics that could impact your bottom line.

    Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you're tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special "CSIRE" discount code at checkout for $10 off your subscription.

    Time Stamped Show Notes

    • 00:30 – Introducing Jeff, the CEO and co-founder of High Return Real Estate in Indianapolis, Indiana
      • 00:50 - His company is a turnkey solution for real estate investors/ owners who don't want to manage their properties but want to reap the benefits
      • 01:50 - He got into the industry through his digital marketing agency; a client wanted to chat with him about a potential business idea
      • 02:45 - After a call and brainstorming session, High Return Real Estate was born; they are a by-investors-for-investors company
    • 04:50 – On being in lower-to-middle priced areas
      • 05:22 - They make sure tenants are safe and taken care of while still making sure the investor is maximizing their investment; their processes are transparent
      • 06:20 - Their clients are mostly out-of-state; rent control in the other states could be a factor
      • 07:35 - Real estate is cyclical; Jeff believes in the free-market economy and sees the coronavirus economy as part of the natural cycle
      • 09:30 - They consider the price-to-rent ratio when thinking about which markets to enter; they also consider landlord-friendly laws
    • 12:00 – Jeff's price-to-rent ratio formula
      • 12:05 - They've started using a percent rule on their worksheets; the use a "gross rent multiplier" and starts at 1%
      • 13:15 - Sometimes they get deals from wholesalers, hedge funds, and by researching; they have a lot of valuable relationships and can buy things cheaper
      • 14:00 - They have merit because they're local; they don't mark up their prices a lot because they work with volume
      • 15:15 - Their markup is basically on the construction and re-hab; gentrification is happening in the city and is causing some upper price pressure
    • 16:40 – Jeff's CSIRE story
      • 17:00 - Sometimes it's mindblowing how people leave a property; part of the rehab cost is the cleanup and sometimes a professional crew needs to come it
      • 18:12 - They did a beautiful rehab to property but there was an issue with a water meter and crawlspace; they fixed in and the city rejected their work
      • 18:40 - They wanted a line created to the street; they wanted the owners to pay for the infrastructure if they wanted water to flow to the property
      • 20:40 - Pay attention to local politics and infrastructure, be involved, and as an investor work with people that live and know the area
    • 21:45 – How to contact Jeff: go to the High Return Real Estate website and check out the High Return Real Estate Show

    3 Key Points

    1. Consider the price-to-rent ratio as an investor.
    2. Pay attention to local politics where you choose to invest.
    3. Engage with a team that is local when looking to invest elsewhere.

    200 - Blockbuster Strategy in a Netflix Reality - Tristen Sutton May 28, 2020
    Show notes

    Are you deploying a "Blockbuster strategy in a Netflix reality? Tristen Sutton, a Facebook ads expert, knows the ins-and-outs of how to attract and convert your ideal clients. He knows exactly what's working right now and shares some of the biggest mistakes REALTORS® make when it comes to social media marketing. Listen in to hear Tristen's tip for connecting with people online during a time filled with negativity and fear - and learn how to make your next virtual open house a smashing success.

    Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you're tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special "CSIRE" discount code at checkout for $10 off your subscription.

    Time Stamped Show Notes

    • 01:00 – Introducing Tristen, a certified Facebook ads expert who teaches REALTORS® how to use Facebook ads to attract and convert their target market
      • 01:20 - He works with the Houston Association of Realtors to help agents reach their community
    • 02:45 – On leveraging social media during the pandemic
      • 03:05 - Social media is going to be your best friend right now; embrace it, so stop having a "Blockbuster strategy and a Netflix reality"
      • 04:10 - Your reach is minimal with regular posts; you need to invest in Facebook ads, use video, and provide value
      • 05:23 - Do video, Facebook Lives, and live tours for open houses; the best practice is to do a pre-recorded video and upload it natively on your FB page
      • 06:40 - Then, you can repurpose that video across other channels and maximize your content
    • 07:25 – What kind of videos are working well right now
      • 07:30 - People are favoring videos that are about 3 minutes in length on your business page; call out and identify your market and do something different
      • 08:05 - Invest in a little tripod and a mic; make sure the lighting quality is good, too
    • 09:05 – Tristan's CSIRE experience
      • 09:20 - He sees a lot of agents deploying the "posting and hoping" strategy; it doesn't work anymore
    • 10:30 – What's safe for REALTORS® during Fair Housing Month who want to target a certain market
      • 10:35 - You can't target based on gender, income, or zip code; you can't violate because Facebook simply won't let you
      • 11:08 - You can target by address, city with a 15-mile radius, and age; Tristen teaches the valuable skill of retargeting those who click and are interested
      • 12:15 - If you don't serve first-time homebuyers, have a connection with someone in your area who does
    • 13:25 - Tristen's tip
      • 13:45 - He's seeing people getting disgruntled and negative online; stay positive, make people laugh, and make people feel good
    • 14:37 - To get in contact with Tristen: text "freeguide" to 31996; it'll lead you to a link to download a free workbook to make your own Facebook ads and put you on his email list

    3 Key Points

    1. Video is queen right now on Facebook - so use it!
    2. Don't just "post and hope".
    3. Stay positive in all your messaging. People need a laugh and a smile right now.

    199 - Things Got Dog-Sh*t Messy... Literally - Rock Thomas May 21, 2020
    Show notes

    Are you owning up to your mistakes and milkin' the lessons out of them? Rock Thomas, a farm boy turned investor, entrepreneur, and self-made millionaire sure has, and he's here to share why nobody cares more about your money than you do. In the past, he has let his emotions and ego run the show, and when they did, things got dog-shit messy — literally. Listen in to hear why Rock sees his mistakes as investments in himself - and learn about the massive opportunities he's creating amidst the coronavirus pandemic.

    Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you're tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special "CSIRE" discount code at checkout for $10 off your subscription.

    Time Stamped Show Notes:

    • 00:40 – Introducing Rock, a farm boy turned podcast host, bestselling author, motivational speaker, investor, entrepreneur, and millionaire
      • 02:10 - He invests in student housing; he's in a mastermind of people dedicated to passive income vehicles and a man had broken the strategy down to a science
      • 03:10 - The guy figured out how to renovate places quickly and efficiently; Rock gave him resources to scale his business from $8M/year to $120/M/year in 4 years
    • 04:00 – Rock's CSIRE
      • 04:50 - Usually people say not to wait to buy real estate, but in this case, he recommends waiting to see how this pandemic shakes out
      • 05:15 - Rock got good in real estate, then he got cocky; he ended up getting burnt and having to repossess a property that had 26 dogs
      • 06:00 - There was poop everywhere and she had an indoor pool that wasn't taken care of so there was mold everywhere; his emotions led to more bad decisions to try and make up the money
    • 06:20 - The lesson
      • 06:30 - Respect your rules and principles; do your due diligence and don't get greedy or careless
      • 07:00 - Nobody cares about your money more than you do
      • 08:50 - He's made some mistakes along the way and has learned to be resilient and careful
      • 10:30 - When you don't win, you can still learn and get equipped with wisdom
      • 11:12 - Pause and determine how you respond; don't just respond
      • 13:30 - Own and pay for your mistakes; learn from them and make better decisions down the road
      • 14:40 - Don't be afraid to fail, be afraid to not be in the game
    • 15:10 - What he's doing now during the coronavirus outbreak
      • 15:15 - He's picking oranges, bought an industrial machine, and has freshly squeezed juice daily
      • 16:05 - He's playing golf, meeting professionals on the course, and choosing to thrive
      • 16:40 - He's doubling down on his rituals, healthy habits, and stock play
    • 17:30 - How to reach Rock: the #IAMMovement podcast, his website, Instagram, Facebook, and YouTube

    3 Key Points:

    1. As emotion goes up, intelligence goes down.
    2. Respect your rules and principles.
    3. Nobody cares about your money more than you do.

    198 - Is Your Money Working Hard, or Hardly Working - Brett Swarts May 14, 2020
    Show notes

    Is your money working hard, or hardly working? Brett Swarts, the founder of Capital Gains Tax Solutions, shares the strategies and solutions he uses to free his clients from feeling trapped by capital gains tax. He shares some examples, reveals how it works, explains why it's totally legal, and changes the way you'll look at trusts, taxes, and investing forever. Listen in to hear Brett's advice on what to do during this tough time in the market - and get a glimpse into what can be done to build and preserve your wealth for years to come.

    Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you're tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special "CSIRE" discount code at checkout for $10 off your subscription.

    Time Stamped Show Notes:

    • 00:40 – Introducing Brett who, at a young age, helped his father with real estate buying, selling, and building residential properties in the Bay area
      • 01:10 - He later learned about real estate investing and fell in love with helping people find real estate investment solutions
      • 01:45 - When the 2008 crisis hit, he set out on a journey to help his family and friends escape feeling trapped by capital gains tax
      • 02:05 - Now he educates about the 1031 tax-free exchange and the capital gains solutions people can use
    • 03:50 - The issue is taking on too much "dumb" debt
      • 03:50 - During this time, you want liquidity and diversification; you don't want to buy a property just to buy, you want to wait until you can buy for a lower price
      • 04:10 - The 1031 can sometimes force people to buy high and buy something of equal or greater value, which means equal or greater debt
      • 04:20 - A gentleman in Georgia who just closed moved his funds to a deferred sales trust to protect his wealth and see what pans out with the pandemic
      • 05:15 - Don't overpay for a property just to pay less tax
    • 06:00 - Advice Brett gives to his clients when emotions are running high
      • 06:25 - Build a team around you of people that have your best interest in mind that can help guide you
      • 06:55 - Have a tax-deferred optimal-timing wealth plan, diversify, take on more reserves, and maybe sell a property that still has its value
      • 07:30 - Move into a strategy of preservation; the largest wealth transfer in the history of the U.S. is coming because of baby boomers
      • 08:50 - They want to fund their retirement, travel, release liabilities, and get rid of debt but they're faced with a capital gains tax
      • 09:10 - A deferred-sale trust could be a way to work around that, diversify, and get liquid
      • 10:00 - You need to know your vision, state in life, and goals to set up a plan that works for you; the people you work with need to provide more value than ever
      • 11:15 - Trade illiquid assets and turn them into liquid ones, and do it all tax-deferred
    • 11:30 - More on the deferred trust
      • 11:35 - It's through tax code IRC 453, which is also known as an installment sale, a seller carryback; their version is through IRC 1031, which has timing restrictions
      • 12:00 - Most notes go for ten years, can be renewed, and can be passed to your kids inside a living trust, remaining tax-deferred
      • 12:30 - You can buy a new property with those funds, still tax-deferred
    • 13:14 - Their average client
      • 13:15 - Their average deal is $2.6 Milion and they defer around $400,000-500,000 in liability; their minimum is $500,000 of proceeds and $100,000 in tax liability
    • 14:50 - As an agent, remind your clients that they don't have to plow through all they have and more into their next home
      • 15:20 - These deferred sales trust solutions work for many things, including businesses and even horses
    • 17:30 - A hypothetical
      • 17:50 - If someone sells an asset for $1.9 Million, pays off all their debt, and puts about $800,000 into the trust; now, it can be invested into whatever, whenever
      • 18:12 - The only limitation is that 20% of it must stay liquid; funds are directed from the trust directly to the real estate asset
    • 18:50 - How ownership works within the trust
      • 19:30 - You own it within a JV partnership with the trust so you get a brand new depreciation schedule; you can form an LLC and partner with the trust
      • 20:40 - The trust acts as a silent partner; you can have one trust with multiple notes
    • 23:15 - How to contact Brett: The Capital Gains Tax Solutions podcast, YouTube channel, and website - and be sure to grab their free guide on the site

    3 Key Points

    1. Don't overpay for a property just because you want to pay less tax.
    2. Human nature is to buy high and sell low because you let your emotions overrun you.
    3. It's complicated: Get a professional to help you navigate tax solutions.

    197 - Who Got the Last Laugh? - Jamil Damji Apr 30, 2020
    Show notes

    Who got the last laugh in this story? Jamil Damji, a real estate wholesaler and coach, shares how he was hit by the market downturn, turned to comedy for a few years, then came back alive, kickin' and ready to crush the real estate game. He shares his journey, information about his company KeyGlee, and how he pivoted from media to real estate. Listen in to hear about Jamil's business partners - and hear what he learned about himself when working with people much younger than him.

    Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you're tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special "CSIRE" discount code at checkout for $10 off your subscription.

    Time Stamped Show Notes:

    • 01:00 – Introducing Jamil, the president and co-founder of KeyGlee and a real estate wholesaler
    • 03:00 - In 2002 he owned a media company; they would call business owners and ask if they wanted to buy a website
    • 03:50 - He lost $100 with every sale; he overheard his business partner talk about buying old houses in the inner city and making a profit off them
    • 04:50 - He wanted to get involved; he walked by a "For Rent By Owner" house the next morning
    • 05:30 - He asked how much they'd sell it for and the woman said $350,000; he went back to his business partner's dad and he said he'd buy it for $400,000
    • 06:05 - He didn't know how to quarterback the transaction; he called an attorney who helped
    • 07:30 - He was hooked on the business model; he started a business finding building lots for builders and buildings
    • 08:25 - His job connects the dots for people so they don't have to
    • 09:00 - The crash of 2008
    • 09:15 - He invested all his money in developments - and got his family in on it, too; he bankrupted himself and his whole family
    • 09:30 - The whole family moved into a two-bedroom apartment; they had to start over and he went to LA to become a comedian
    • 10:15 - After the crash, he went back into real estate by starting at the bottom; he worked in comedy and made money from sketches
    • 12:00 – How KeyGlee came about
    • 12:15 - He moved to Phoenix in 2012 and started getting deals; he needed buyers and his business partners were smarter than him
    • 13:30 - He partnered with two young guys who have helped him tremendously
    • 14:20 – What's next for KeyGlee; franchising is coming soon
    • 15:10 - How to contact Jamil: On Instagram

    3 Key Points

    1. Be honest when doing assignment contracts.
    2. Don't underestimate the whipper-snappers!
    3. Live in a world of abundance!

    196 - "You Can't Un-See What You've Seen…" - Shadd Boucher Apr 23, 2020
    Show notes

    "You can't unsee what you've seen…" Well, ain't that the truth! Shadd Boucher, a REALTOR® and coach, shares the things he's seen in real estate that have changed the way he views the world forever. He shares the unconventional ways his clients have selected their home and what he has learned through their processes. Listen in to learn how some people detect evil spirits and keep them away - and learn a few tricks for protecting your home, too!

    Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you're tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special "CSIRE" discount code at checkout for $10 off your subscription.

    Time Stamped Show Notes

    • 01:45 – Introducing Shadd, a REALTOR in Lutz, FL who has been in the business for 20 years; he was U.S. Manager of the Year for RE/MAX in 2018
    • 02:15 - He's also a coach; he loves it and enjoys watching others succeed
    • 02:50 - The history of Shadd's name
    • 04:00 – How he started in real estate
    • 04:20 - He was in retail and a man came in and said he needed to be in real estate; he ended up working for the man, modernizing his office, and marrying his daughter
    • 05:00 - He went into management, got into luxury real estate, worked a corporate job for a while, and eventually teamed up with a great broker/owner
    • 07:30 - The corporate job was with Gryphon doing "Do Not Call Compliance"
    • 09:40 – Shadd's CSIRE story
    • 10:00 - It has to do with superstitions of different cultures
    • 11:00 - He had a client who was a "dowser" and could pinpoint where underground water and lines were located
    • 11:50 - The water follows energy channels in the earth and this man had dowsing rods; he bought his house according to the reading of the rods
    • 13:15 - He helped other people buy homes with water sources
    • 14:20 - Another CSIRE story
    • 14:26 - He helped a young couple get a house but their grandma had to pick it; she wanted a glass of water in the master bedroom to see if there were evil spirits
    • 16:10 - People are serious about the demon-removing thing; listen to people, understand, and try to educate yourself
    • 18:30 - On what he learned
    • 18:45 - Somehow some people can sense death in the house
    • 19:35 - Sometimes older agents can get hung up on thinking they know everything
    • 20:13 - You can't unsee what you've seen; he now has a glass of water by his bed
    • 21:45 - How to contact Shadd: Go to Re/Max Capital Realty or find him on Facebook or Twitter

    3 Key Points

    1. Be understanding and don't be rude!
    2. Educate yourself about other people's cultures.
    3. You can't unsee what you've seen!

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