Thu, 24 August 2017
All roads lead to multi-family. It seems that no matter how you get your start in real estate, the vast majority of investors come to the same conclusion: For passive, everlasting cashflow, multi-family is the way to go.
Jack Bosch came to the United States from Germany in 1997 to finish his college degree. He worked in the corporate world for several years, but soon found that it did not afford the life he wanted. His visa was dependent upon keeping his job, yet the company that was struggling, so Jack was inspired to start a company of his own.
Attracted to real estate because of its cashflow potential, Jack got his start flipping land. Over the course of three years, he developed a system that allowed him to do 3,800-plus deals, and he achieved financial freedom in a short time. Jack eventually moved into the single-family space, developing a portfolio of rental properties, and he finally graduated to multi-family in the last year. Today he shares the specifics of his transition to multi-family, his experience raising money for the first time, and his advice for investors who dismiss apartment buildings as an advanced strategy. Listen as he explains why he would have liked to get into multi-family sooner, and how you can get started in the space with no prior experience.
[2:12] How Jack got involved in real estate
[4:00] Jack’s start in flipping land
[5:36] How Jack defines a transaction
[8:47] Jack’s transition to multi-family
[12:52] Jack’s advice around the multi-family learning curve
[18:10] Jack’s experience with raising money
[21:01] Jack’s conclusions about multi-family
[22:48] Why Jack would have liked to start multi-family sooner
[28:20] Jack’s advice for investors who dismiss multi-family as an advanced strategy
[30:26] What Jack is excited about
Connect with Jack
Direct download: MB_076__Multifamily__Forever_Cash_Flow__With_Jack_Bosch.mp3
Category:Commercial Real Estate -- posted at: 3:32pm EST
Tue, 22 August 2017
MB 075: How to Harness the Power of Crowdfunding Even If You're a Newbie - With Jilliene Helman, CEO of RealtyMogul
Yes, crowdfunding is out of reach for the average newbie syndicator. But if you’ve got a great deal and a willingness to hustle, it is possible to partner with a larger real estate company and take advantage of the capital available through crowdfunding. Platforms like Realty Mogul are looking for sponsors with a track record, so if you don’t have one—find someone who does.
Jilliene Helman is the CEO of Realty Mogul, the premiere online marketplace for real estate investing. The platform employs cutting-edge technology to connect its network of 130,000 registered investors looking for passive investments in commercial real estate with established real estate companies looking to acquire and operate commercial properties.
Realty Mogul is a marriage of Jilliene’s affinities for financial services and technology. She founded the company in 2013 to take advantage of the opportunities around crowdfunding afforded by the JOBS Act. Today she discusses why Realty Mogul chose to focus on the commercial space, the types of investments the platform offers, and the Realty Mogul definition of a good deal. Learn about the evolution of the crowdfunding industry, and heed Jilliene’s advice about partnering for aspiring syndicators.
[2:33] How the crowdfunding industry has evolved
[3:55] Why Realty Mogul chose to focus on the commercial space
[4:54] The types of investments Realty Mogul offers
[6:54] What Realty Mogul is looking for in a sponsor
[8:34] Jilliene’s advice for aspiring syndicators
[10:12] Jilliene’s guidance around partnering with a larger real estate company to employ crowdfunding
[11:47] What Realty Mogul defines as a good deal
[14:13] The requirements for passive investors on Realty Mogul
[15:28] The process of becoming a passive investor with Realty Mogul
[16:40] The benefits of working with Realty Mogul
[17:23] How Realty Mogul came to be
[18:22] Jilliene’s take on the future of crowdfunding
Connect with Jilliene
Direct download: MB_075_-_How_to_Harness_the_Power_of_Crowdfunding_Even_If_Youre_a_Newbie_-_With_Jilliene_Helman_CEO_of_RealtyMogul.mp3
Category:Commercial Real Estate -- posted at: 7:50pm EST
Tue, 22 August 2017
What gives a 27-year-old with no experience in apartment building investing the audacity to swing for the fence?
Patrick Duffy grew up in Southern California before heading east for college. After graduating from Harvard in 2013, he returned to SoCal to work as a commercial real estate banker and later for a hedge fund, buying non-performing mortgages. He grew up around real estate, his family owning a multi-family property since the 1950’s, and he had always intended to invest in apartments—as soon as he had the money to do so.
Before long, Patrick was unhappy at his job, so he started reaching out to investors he had lent to in order to get clarity on how to analyze deals. Despite his lack of experience on the principal side of real estate, Patrick started studying LoopNet and set the goal of securing 100 units in two years. Eventually, he discovered Michael’s Deal Desk resource, and used the Syndicated Deal Analyzer to get feedback on a 69-unit property in Memphis. The deal met Michael’s criteria, and the two forged a partnership.
Today Patrick explains the steps he took to research the Memphis market, how he made use of the act ‘as if’ approach to secure a letter of intent, and his best advice for working with investors. Listen in as he shares the mindset that helped him swing for the fence on a multi-family deal and how doing his first deal has changed the game for Patrick, as he aspires to reach 1,000 units in the next 12 months.
[3:30] How Patrick landed on the partnering strategy to finance multi-family
[6:04] How Patrick found the Memphis deal
[9:23] Why Patrick continued to move forward
[11:13] Michael’s partnership with Patrick
[13:18] Patrick’s experience working with investors
[15:23] The closing process for the Memphis 69-unit deal
[16:25] The impact of doing your first deal
[19:50] Why size isn’t a factor for Patrick
[21:35] Patrick’s advice for aspiring multi-family investors
Connect with Patrick
Direct download: MB_074_-_How_I_Did_My_First_69-Unit_Deal_Without_Experience_or_My_Own_Money__With_Patrick_Duffy.mp3
Category:general -- posted at: 7:30pm EST
Fri, 18 August 2017
Landing your first multi-family deal is much like pushing over the first in a series of dominoes: The second and third deals fall in rapid succession. In most cases, it is possible to replace your income one to three years from the moment you decide to change your life.
Brad Tacia’s story adheres to this Law of the First Deal. He was an engineer by trade, working for an auto parts manufacturer in Detroit. Though he survived the recession, Brad knew that he needed a backup plan. He began his foray into real estate with single-family homes, using a portion of his 401(k) to facilitate the investment.
Brad reached a turning point when he realized just how much of his daughter’s life he was missing. To speed up the process of achieving financial freedom, Brad and his wife used the Dave Ramsey program to cut their expenses and pay off their house—which allowed them to fund their first multi-family deal with a home equity loan. Brad’s second and third deals followed quickly on the heels of the first, and in two years, he had replaced his income. Brad quit his W-2 job, and now he controls 160 apartment units total. Listen as he explains his experience with Dave Ramsey’s Financial Peace University, how he funded his first three multi-family deals, and his secrets to becoming financially free in just two years. He also shares his knowledge around syndicating deals as well as the details of how his life has changed, making every day feel like Saturday!
[4:26] Brad’s motivation to try real estate
[6:36] What precipitated Brad’s shift to multi-family
[7:16] How Brad funded his first multi-family deal
[8:14] Brad’s experience with Financial Peace University
[11:23] Brad’s next two multi-family deals
[13:23] How Brad developed the confidence to do his first multi-family deal
[14:01] Brad’s advice around funding multi-family deals
[15:19] Brad’s experience syndicating deals
[16:41] Brad’s secrets to becoming financially free in two years
[18:00] The significance of the first deal
[19:27] How Brad found time to do real estate on the side while working a demanding job
[20:20] How Brad’s life has changed
[22:30] Brad’s perfect day
[23:22] How Brad wants to be remembered
[24:34] Brad’s best advice for aspiring multi-family investors
Connect with Brad
The Millionaire Real Estate Investor by Gary Keller
Direct download: MB_073_-_How_Every_Day_Can_Feel_Like_Saturday_-_With_Brad_Tacia.mp3
Category:Commercial Real Estate -- posted at: 1:44pm EST
Fri, 4 August 2017
What is stopping you from achieving financial freedom through apartment building investing? Is it because you don’t have single-family experience? Are you intimidated by the perceived complexity of the multi-family space? Or maybe you think you don’t have enough money to consider pursuing multi-family deals? Today’s guest has encountered and overcome all of these limiting beliefs, and today he reveals how to get out of your own way and get on the road to financial freedom.
Tyler Sheff is the founder of CashFlowGuys.com and the host of the Cash Flow Guys Podcast. He was making six figures as a merchant mariner when he and his wife took a hard look at their future. Tyler didn’t want to wait until he was 65 to enjoy life, so he took compensatory time and gave himself six months see if real estate investing would prove viable and provide the cashflow necessary to attain financial freedom.
In just 11 months, Tyler had replaced his income. At that point, he had invested in 26 units in Florida and Tennessee – using none of his own money. Now he leverages his 17 years of experience to demystify the real estate investing space, encouraging others to focus on cashflow and take massive action toward their goals. Today, Tyler shares his journey, explaining how he landed his first few multi-family deals, why single-family experience is unnecessary in the apartment building space, and how he employs relationship marketing to raise capital. Listen in as he unpacks each of the limiting beliefs that held him back and reveals how to overcome ‘analysis paralysis’ and move forward with your dreams of building passive income and escaping the rat race.
[2:55] How Tyler got started in real estate
[4:32] Why Tyler returned to real estate
[8:08] Tyler’s experience as a landlord
[9:10] Tyler’s first multi-family deal
[12:12] Tyler’s next two deals
[17:22] The limiting beliefs that held Tyler back
[19:22] Why single-family experience is unnecessary to enter the multi-family space
[21:49] How Tyler achieved multi-family deals without using any of his own money
[23:05] How Tyler leveraged ‘relationship marketing’ to raise capital
[24:44] Why the complexity of multi-family is a limiting belief
[25:50] The importance of Tyler’s first deal
[26:56] How Tyler’s life has changed
[29:51] Tyler’s perfect day
[30:27] Tyler’s advice for aspiring multi-family investors
[31:02] How Tyler wants to be remembered
Connect with Tyler
Direct download: MB_072_-_How_to_Overcome_The_Most_Crippling_Limiting_Beliefs__with_Tyler_Sheff.mp3
Category:Commercial Real Estate -- posted at: 3:59pm EST