Ritter on Real Estate

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Building a Multifamily Portfolio From Across the Ocean with Billy Keels Jun 17, 2021

Show notes

Billy Keels always knew about the importance of having diverse income streams, but it took a few knocks for him to recognize the power that lies in real estate investing. Billy’s colorful life experiences led him to settle down in the South of France. However, his real estate investments are situated in his home country, the United States. Billy talks us through the dynamics of investing across the ocean, and how he has made a success of this endeavor while still maintaining a full-time day job that he loves. After managing everything on his own for a while, Billy realized the value in finding strong team members whose values align with one's own (just like you would in a marriage partner!), and he explains the process that he goes through to find those people. There are numerous real estate markets that have investment potential, and Billy stresses how important it is to make your goals clear before making a decision about where you are going to put your hard-earned cash. Not every deal is going to be a home run, but don’t let that stop you from taking action and always continuing to move forward.

Key Points From This Episode:

Lessons about work ethic that Billy learned from his parents at a young age.
The work/travel experience Billy had after college and how that benefited him later on.
Where Billy has been working for the past 15 years.
Knocks that Billy took in 2000 and 2008.
Billy’s journey into the real estate space, and why he chose to invest in the United States even though he was living far away.
Why Billy chose to move from active to passive investing.
Parallels between Billy and Kent’s real estate career paths.
The importance of making your goals crystal clear before you start investing.
Building a strong relationship with a team is a key element to success.
Advice about how to find team members who are in alignment with your vision.
A key element of the sponsor-investor relationship that helps Billy sleep well at night.
Syndications are not always going to work out as planned; that’s part of the deal.
The five languages that Billy speaks, and how he became multilingual.
Why Billy will always ask a deal sponsor about the deals they’ve done which didn’t go as well as they had hoped.
Billy’s highly recommended book that changed Billy’s perception of the world.
Keep moving forward; final words of wisdom from Billy.

Links Mentioned in Today’s Episode:

Going Long Podcast with Billy Keels

Billy Keels on LinkedIn

Keepon Cashflow

Schedule a Call With Billy Keels

Grow Your Money the Smart Way

The Creature from Jekyll Island

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Becoming a Debt-Free Doctor with Dr. Jeff Anzalone Jun 13, 2021

Show notes

Today we are paid a visit from an amazing guest with so much value to offer all of you! Dr. Jeff Anzalone is the brains behind Debt-Free Doctor, a service that helps doctors and healthcare professionals to create passive income while still working in the medical space. Dr. Anzalone is a full-time periodontist as well as an author, and we get to hear all about his journey after medical school and how he found his way first into passive investing and then subsequently into active deals! His main goal in his real estate work is to show people how they can stop trading their time for money, and increase their income dramatically. One of his main points in our conversation is around the importance of mindset and how we have to get away from an outlook based on scarcity before we can experience success. We also talk about his best advice for finding and locking down deals, questions to ask deal sponsors, and why he is so dedicated to helping others reach a better financial life! Tune in to get it all!

Key Points From This Episode:

The beginning of Dr. Anzalone's career and how this pushed him to pursue passive income.
Lessons that Dr. Anzalone learned around debt and income from the get-go.
How a negative and worried attitude can impact your work and personal life.
The steps that Dr. Anzalone took to address and change his scarcity mindset.
Dr. Anzalone's skiing injury and how it influenced his attitude towards providing for his family.
The first asset classes that Dr. Anzalone pursued and the early seminars he attended.
Dr. Anzalone's motivation behind starting his Debt-Free Doctor business!
The transition that Dr. Anzalone made from passive to active investments.
Reason doctors should be seriously considering new revenue streams as a failsafe.
Tips and tricks for a healthy process of finding and securing deals!
The most important question that investors should be asking of their deal sponsors.
Proudest moments along the way for Dr. Anzalone: the enjoyment of his helpful work.
Dr. Anzalone's best book recommendation for all of our listeners!
The key to success for Dr. Anzalone: dealing well with and learning from failures.

Links Mentioned in Today’s Episode:

A Doctor’s Guide: How To Create Passive Income With Real Estate

Dr. Jeff Anzalone

Debt-Free Doctor

Dr. Jeff Anzalone Email

LSU

Dave Ramsey

The Passive Income Physician

Thomas Black8

Die With Zero

Spanx

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How To Win Friends And Influence People

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Cost Segregation and Green Tax Credits with Bobby Thames Jun 04, 2021

Show notes

Whether you run a small business or invest in real estate on the side, we are all trying to maximize our passive income. Our guest today, Bobby Thames, is an expert in doing just that. Bobby spent the first ten years of his career at PriceWaterhouseCoopers, becoming an expert in tax credits and cost recovery solutions. He has since started his own successful business, CENTIVE, which delivers tax and cost recovery solutions for real estate. Throughout his career, Bobby has done a multitude of cost segregation projects from sports stadiums, to bank branches, to restaurants. In our conversation, Bobby explains the many benefits of cost segregation and how to apply it to real estate. He shares the tool his company is developing to help small businesses take easy and effective control of their cost segregation, and how to use it. We also talk about Bobby’s work in the green energy tax credit space, explaining how politics can impact and incentivize decision-making in real estate. Join us for a deep dive into cost segregation and learn how you can start applying these lessons today!

Key Points From This Episode:

Meet today’s guest Bobby Thames.
What Bobby learned during his first ten years at PricewaterhouseCoopers.
An explanation of cost segregation.
Why cost segregation is important for investors.
Why it’s important to break down buildings into their various components so as not to diminish passive income.
How the changes that the Trump administration made to the tax code in 2017 were beneficial for cost segregation, in large part because of his experience as a developer.
How Bobby’s company goes about doing cost segregation for clients and buildings.
Why Bobby and his company use the same tools that appraisers use and then do cost segregation.
Increasing your expenses through cost segregation to lower your taxes.
The reasons why it’s beneficial to do cost segregation for your business.
Why cost segregation can vary greatly depending on the context.
How small businesses can work with Bobby’s company to do cost segregation.
The new tool that Bobby’s company is making available for small businesses.
Energy-efficient home tax credits and how to qualify for them.
Bobby shares his keys to success.
The importance of networking and relationships as a small business owner.

Links Mentioned in Today’s Episode:

PricewaterhouseCoopers

Bobby Thames on LinkedIn

CENTIV

Check us out on socials:

Brian Caffarelli on LinkedIn

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Becoming a Trusted Advisor to you Investors with Brian Caffarelli May 26, 2021

Show notes

Today’s guest, Brian Caffarelli is a partner at STS Consulting who helps his clients grow their revenues and margins through a broad spectrum of sales effectiveness and relationship management strategies. Using a unique combination of his prior sales expertise and the organizational psychology insights he has gained through working at STS Consulting, Brian assists organizations in selling better and more effectively by helping them see the value of putting trust before the sale. In today’s episode, he explains that what makes selling so difficult is the fact that buying is equally difficult, and it’s important to put yourself in the position of the buyer in order to meet them where they are on the buyer journey and best serve their needs. Tuning in, you’ll learn more about the buyer journey, from problem to deal, and come to better understand the trust equation, a concept borrowed from The Trusted Advisor by David Maister, Charles Green, and Robert Galford. Ultimately, what has served Brian in his career was taking the ‘trust before sale’ concept to heart and realizing that it wasn’t about helping the buyer understand him, but rather about helping the buyer understand themselves. This is an insightful conversation full of practical advice and wisdom, so make sure not to miss it!

Key Points From This Episode:

An introduction to Brian Caffarelli and his career trajectory.
Brian explains that what makes selling difficult is the fact that buying is equally difficult.
The value of the ability to guide someone in making an informed and competent decision.
Hear about the buyer journey and why it is so important to meet them where they are at.
How conflict can arise when the seller doesn’t take the time to understand the buyer's problem, which is step one on their journey.
Understanding the partner before the deal and putting trust before the sale.
The trust equation: earn credibility, demonstrate reliability, create an environment of professional intimacy, and manage out your self-orientation.
The emotional, affective, or heart-oriented elements of the equation that are most powerful.
Find out what intimacy means in this context and how to create it.
Creating intimacy at scale with many different personality types, starting with listening.
Why part of listening is asking really good, thought-provoking questions.
Why Brian believes it’s all about helping the buyer understand themselves.
The important role that showing vulnerability plays in earning the trust of others.
Learn more about self-orientation and how to go about minimizing it.
Some practical advice for listeners: think like a buyer, earn their trust, and be their guide.
One question the buyer should ask the seller: what would you do in my shoes and why?
Brian describes his proudest career moments; helping sellers realize selling isn’t so bad.
Hear his number one key to success, which is understanding trust comes before the sale.

Links Mentioned in Today’s Episode:

Strategic Talent Solutions

The Trusted Advisor

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Mark Podolsky on LinkedIn

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How to Invest in Real Estate with No Money with Mark Podolsky May 19, 2021

Show notes

Investing in real estate does not always require cash and, in this episode, you will learn how to invest in real estate without tenants, termites, or even toilets! Today’s guest is Mark Podolsky, AKA The Land Geek, author of Dirt Rich: The Ultimate Guide to Helping You Build A Passive Income and Founder of Frontier Properties, a reputable investment company that specializes in the acquisition of raw and developed land throughout the United States. He has been buying and selling land full-time since 2001 and, by working smart, not hard, he has completed over 5,500 land deals with an average ROI of over 300 percent on cash flips and over 1,000 percent on the deals where he sells with financing terms. He wants to help you do the same, so tune in to hear his insight and practical advice for taking advantage of bigger margins and earning 300 percent ROI in what Mark calls the “gateway drug” to bigger deals, cash reserves, and opportunities!

Key Points From This Episode:

Hear Mark’s story and how he discovered 300 percent returns in land investing.
Find out how buying raw land to flip and sell actually works.
The systems Mark created to automate the process of identifying land deals, from offer and acceptance to due diligence and closing.
Taking advantage of big margins in an inefficient niche for hedge funds and private equity.
Why Mark says land is a great “gateway drug” to bigger deals, greater cash reserves, and for gaining real estate experience.
Some of the programs Mark has developed to help others through the process.
Red flags to look out for, like superfund sites and what Mark calls “got-to-have-land ITIS.”
Mark emphasizes that, while this is a simple process, “it ain’t easy.”
What to ask your deal sponsor: how do you have skin in the game?
Why Mark is most proud of remaining profitable between 2010 and 2012.
His recommended books, which include The ONE Thing and The 12 Week Year.
Learn about Mark’s number one key to success; meditation.

Links Mentioned in Today’s Episode:

Mark Podolsky on Twitter

Mark Podolsky on Instagram

The Land Geek

Frontier Properties

Dirt Rich

Discover Wholetailing Course

Flight School Program

what3words

LG Pass

GeekPay

United States Environmental Protection Agency

The ONE Thing

The 12 Week Year

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My Core Intentions on Instagram

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Overcoming Big Mistakes with Mike Morawski May 12, 2021

Show notes

Mike Morawksi’s journey in the real estate industry, and in life in general, hasn’t always been smooth sailing but it has certainly been colorful and full of great successes to make up for the low points. Everybody makes mistakes, but some are bigger than others; the mistakes that Mike made during the 2008 financial crisis led to him being sentenced to 10 years in federal prison. But we are not defined by our failures, we are defined by how we get back up from them. Mike took a situation that could have ruined his life and turned it into something that he is extremely proud of. In today’s episode, Mike candidly shares his mistakes and what he learned from them, as well as his numerous achievements and how they have shaped his life. One of these is the book he has written, Exit Plan, which is freely available as an Ebook, and is well worth a read. Mike has a wealth of knowledge, experience, and advice which will be extremely valuable to anyone in the real estate industry so don’t miss out on this one!

Key Points From This Episode:

The moment Mike decided he needed to change his life and what made him decide to pursue a career in real estate.
Mike’s journey from house-hacker to coach, and everything in between.
How Mike quickly scaled up from his first 11-unit deal.
Decisions Mike made that led to him being sentenced to 10 years in federal prison.
Words of wisdom from a man Mike met in prison, which turned his life around.
The numerous achievements that define the majority of Mike’s time in prison.
Why Mike decided to enter the coaching and training space when he left prison.
What Mike loves about the multifamily real estate space.
Advice for anyone in working in real estate who has not had to deal with a financial crisis yet.
Mike explains why it is essential to have an exit plan (which is also the name of his book) and the different types of exit plans that exist.
An example of one of Mike’s exit plans that he used in 2008.
The “sweet spot” and suggestions for what you should be doing when you get to that point.
What Mike is most proud of and the quality that has helped him get to where he is today.
Book recommendations from Mike, and how you can get in touch with him.

Links Mentioned in Today’s Episode:

My Core Intentions

My Core Intentions on Facebook

My Core Intentions on YouTube

Exit Plan by Mike Morawski

Exit Plan [Free Ebook]

Lehman Brothers

University of Minnesota

The Inland Real Estate Group

Bear Stearns

The 7 Habits of Highly Effective People by Stephen Covey

The Millionaire Real Estate Investor by Gary Keller

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Production by Outlier Audio

Multifamily Investing Made Simple with Anthony Vicino May 04, 2021

Show notes

Making your first steps in multifamily can be daunting. By equipping yourself with the right knowledge, you can build your success with confidence. Today we speak to Anthony Vicino, a best-selling author, former professional athlete, and serial entrepreneur who is committed to helping people maximize their return on life. In this episode, Anthony opens up his multifamily playbook to share his best tips and advice for aspiring investors. To kick things off, Anthony tells us about his professional background and how he first got involved in real estate. After hearing about his varied history as a pro athlete and science-fiction author, Anthony tells us how his ADHD supplied the foundations to his success. Following this, we hear about what frightens investors most, and what they can do to mitigate their fears. He touches on the wealth of opportunity that real estate provides, and helps boil down its nuances to simple concepts. Later in the show, we go into detail about Anthony’s company, Invictus Capital. We find out what their purpose is in real estate, as well as how they fulfill their aim to provide positive experiences for residents and investors alike. We also uncover how Invictus Capital adds value to its properties, as Anthony shares helpful company ideologies, like, “a dollar saved is worth more than a dollar earned.” Wrapping up the show, we ask Anthony about his keys to success. He tells us about the most influential books he’s read, what you should ask your sponsor before every deal, and much more. Join us today!

Key Points From This Episode:

Introducing today’s guest, Anthony Vicino, and his mission in multifamily.
Anthony shares how he first got involved in real estate.
How Anthony’s ADHD affected his choices early on in life.
Hear about Anthoney’s varied professional life before he came into real estate.
The moment when Anthony realized that real estate was the best way he could help others.
Here about what frightens investors most, according to Anthony.
Some of the ways Antony helps people take their first steps in real estate.
Anthony shares more information on Invictus Capital and its position in real estate.
How Invictus Capital adds value to its properties.
Hear more on the Twin Cities market.
Some of the ways Invictus Capital is sharing knowledge through marketing.
Join us for our Keys to Success segment.

Links Mentioned in Today’s Episode:

Anthony Vicino on LinkedIn

Anthony Vicino

Anthony Vicino on Instagram

Anthony Vicino on Twitter

Invictus Capital

Multifamily Investing Made Simple podcast

Passive Investing Made Simple

Meditations on Amazon

Antifragile on Amazon

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Mistakes Millionaires Make

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Mastering your Mindset with Chris Salerno Apr 28, 2021

Show notes

Real estate is fun and rewarding, but success in this game is no walk in the park, so it is of utmost importance to have a mindset of unshakeable positivity. Chris Salerno has achieved some remarkable things in a short space of time and today we talk to him about what they are and the role of mindset in his success. Our chat begins with an introduction to Chris, his journey into real estate, and how he realized that multifamily was the niche for him. He talks about excelling quickly in his first job and then going on to start CQ Capital which now has over $55 million and 500 units under management. Chris gives us the lowdown about the markets and asset classes he focuses on and his efficient method of vetting deals to stay afloat in the competitive niche he has chosen. He also shares a few golden nuggets for how to plan and set deadlines to ensure that time gets used as efficiently as possible. In the next part of our conversation, we ask Chris about the habits he practices and the resources he consults to keep operating on such a high level. Here he drills down on the absolute necessity of taking care of the mind by meditating, thinking positively, and doing what you love! For a conversation packed with actionable tips from Chris today, be sure to tune in!

Key Points From This Episode:

An introduction to Chris and his impressive growth in the real estate space.
Why Chris loves multifamily and a window into the assets CQ Capital has under management.
The different markets and asset classes Chris focuses on and why.
Strategies Chris uses to stay afloat in such competitive markets.
The passion Chris feels about competing in this competitive market.
The importance of mindset for Chris and habits he uses to stay so energetic.
How to nurture and nourish your mind and use it to grow your business and success.
Shifting to a mindset of positivity and how this brings in opportunities.
How Chris prepares for his busy schedule by factoring in downtime with family.
The value of intentionality and planning ahead for being more efficient and productive.
Squeezing the most out of meetings and projects by setting time limits and deadlines.
Why the most important question investors should ask sponsors is about collections.
Pride Chris felt when he realized he was good at learning after finding real estate.
Why Chris recommends Think and Grow Rich and Mistakes Millionaires Make.
Final words from Chris about the main key to success.
How to get hold of Chris and learn more about QC Capital!

Links Mentioned in Today’s Episode:

Think and Grow Rich

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Building Wealth Without Wallstreet with Joey Mure and Russ Morgan Apr 21, 2021

Show notes

A large section of the population has bought into the idea that the best and safest way to prepare for retirement is by setting up a 401k and leaving it to accrue over time. Joey Mure and Russ Morgan are on the show to dispel this and other myths that they argue make up the 'Wall Street mindset', and share some healthier strategies for setting yourself up for a wealthy and secure future. The basis for their philosophy comes from the idea of responsibility and self-belief; they argue that by outsourcing the control of your savings and financial plan, you shortchange yourself, the results of which will be dramatically evident down the road. Our guests talk about the simple nature of the formula for a better strategy but importantly do not shy away from the fact that it will take some dedication and hard work. They really drive home the idea of education and investment in the self and show how these steps are the best way to a brighter future for you and your family. We also get into the topic of debt, and Joey and Russ share some balanced opinions about this divisive area, which may lead you to reconsider what you have been told! So for all this and a whole lot more from two inspiring and progressive financial minds, be sure to listen in!

Key Points From This Episode:

Our guests' professional journeys and how they arrived at their current philosophy.
Unpacking the 'Wall Street mindset' and how it contrasts with the approach espoused by Russ and Joey.
Getting clear and honest about what we really want instead of listening to brokers.
Joey and Russ' opinion on the way 401ks have been falsely advertised as protective.
Taking control of our savings and retirement planning instead of outsourcing it.
The reality of the results of relying on a 401k for savings and retirement preparation.
The three-step process of financial freedom and the formula to follow to secure your future.
Weighing the role of debt in a good financial plan.
The beginnings of a journey towards greater cashflow and security.
Why an active approach to investing in oneself is vital to your finances in the long run.
The 'keys to success' with Joey and Russ! Questions to ask, achievements, books, and more!
A special offer from our guests and how to find and connect with them online.

Links Mentioned in Today’s Episode: