Thu, 27 December 2018
Is 2019 the year you finally get on the road to financial freedom with multifamily real estate? If that’s your goal, there are a few simple things you can do to totally crush it this year. Today on the podcast, I’m sharing my top 3 tips for achieving success in 2019. I start with goal-setting, explaining how to get clear on what you want to achieve and narrow down your objectives to no more than 5 measurable aims with specified time frames. I go on to discuss making time to work toward your goals, describing the strategies I use to batch like activities and schedule intentional blocks to advance my top priorities for that week. Listen in for insight on taking tiny action and learn how to track, recognize and celebrate the small WINS that put you on the road to financial freedom with multifamily real estate! Key TakeawaysTip #1—Get clear on your goals
Tip #2—Make time
Tip #3—Take tiny action
The value of a strong support system
ResourcesThe ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller and Jay Papasan The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod Apartment Investors Network Facebook Group Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Thu, 27 December 2018
In a perfect world, we could syndicate a multifamily property and then sit back and wait for the checks to roll in. But in the real world, we must oversee the apartment buildings we’ve purchased and make sure they perform according to plan. What all is involved in asset management? What is the best way to communicate with investors? And how does your property manager’s competence impact the amount of work that falls to you? Drew Kniffin is the President of Nighthawk Equity, a firm committed to helping real estate investors achieve financial freedom through practical education and high-quality multifamily investment opportunities. Drew became an ‘accidental landlord’ in 2008 when he was unable to sell his condo and rented it instead. But it wasn’t until 2015 that Drew shifted his focus to small apartment buildings. Eight months and three deals later, he was able to quit his job and pursue real estate full-time. Now, Drew helps manage a 1K-unit portfolio through Nighthawk, and he also serves as a mentor with The Michael Blank organization. Today, Drew joins me to share his definition of asset management and explain the syndicator’s role in finding problems to solve during the acquisition process. He describes the significance of a good property manager, discussing how to gauge if a property manager is the right fit, what you should expect from a property manager, and how replace a property manager if necessary. Drew also covers reporting, offering insight around the level of detail to expect from your property manager as well as the key performance indicators a syndicator should monitor. Listen in for Drew’s advice on communicating with investors and learn what aspects of asset management can be outsourced as you scale! Key TakeawaysDrew’s definition of asset management
What to look for in the acquisition process
How to find a good property manager
What makes for a great property manager
The reasonable expectations for a property manager
The fundamentals of reporting
How to determine if a property manager is not the right fit
The key performance indicators to monitor
How to keep a property manager honest
Drew’s advice on replacing a property manager
The fundamentals of investor relations
How to communicate with investors when things go wrong
The value in uniformity of reporting as you scale
How syndicators should spend their time
The asset management tasks that VAs can do
Connect with DrewDrew at Michael Blank Mentorship ResourcesFinancial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Tue, 11 December 2018
If you follow the advice of a traditional financial planner, you are likely counting on a 401(k) and investments in the stock market to sustain you through retirement. Yet those vehicles are both subject to market volatility and assume that the tax rate will remain the same for the foreseeable future. Rebecca Walser is NOT your traditional financial advisor, and she has designed a better strategy for building long-term wealth—a strategy that includes investing in multifamily real estate. Rebecca is a tax attorney, wealth strategist, Certified Financial Planner, and one of Investopedia’s 2018 Top 100 Most Influential Financial Advisors. She has combined her expertise in law and finance to design a unique approach to building and sustaining wealth that conventional advisors won’t consider. Rebecca has been featured in Bloomberg Business, The Boston Globe, and The Miami Herald, among many other media outlets, and she is the author of the groundbreaking book, Wealth Unbroken: Growing Wealth Uninterrupted by Market Crashes, Taxes, and Even Death. Today, Rebecca joins me to explain why the 401(k) is a big mistake (unless your employer matches funds) and share her insight around deferring taxes until retirement. She covers the best alternatives to the 401(k), the greatest threats to building wealth, and the non-traditional asset classes that aren’t subject to market volatility. Listen in for Rebecca’s take on why traditional financial advisors don’t recommend real estate investments and learn the three key takeaways from her bestseller, Wealth Unbroken. Key TakeawaysWhat sets Rebecca apart from other financial advisors
Why Rebecca considers the 401(k) a big mistake
The danger in deferring taxes until retirement
Rebecca’s top alternatives to the 401(k)
The greatest threats to building wealth
Rebecca’s best strategies to avoid market volatility
Why traditional financial advisors avoid real estate
The key takeaways from Wealth Unbroken
Connect with RebeccaResourcesWealth Unbroken: Growing Wealth Uninterrupted by Market Crashes, Taxes, and Even Death by Rebecca Walser Heads I Win, Tails You Lose: A Financial Strategy to Reignite the American Dream by Patrick H. Donohoe Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Wed, 5 December 2018
Let’s say you have a single-family rental that makes you $100 a month. What if you took advantage of a 1031 exchange to purchase a 5-unit building that generates a dramatically higher monthly income of $1K? When Michael Zuber realized the potential cashflow of multifamily investing and the lack of competition in the market for small apartment buildings, his mindset shifted. He went from seeing real estate as a smart place to keep his money to an opportunity to achieve financial independence. Michael is a full-time real estate investor who specializes in 5- to 20-unit apartment buildings. After 15 years of real estate investing, Michael quit his W-2 job to start One Rental at a Time, a company focused on helping busy professionals begin their own journey to financial freedom. Michael’s goal is to help 1K people learn the fundamentals of real estate investing through his educational platform. He is also the author of the book, 15 Year Journey to Financial Freedom Via One Rental at a Time Today, Michael joins me to explain how losing six figures in the stock market led him to real estate investing and describe his initial strategy to buy and hold several single-family homes. He discusses his realization around the cashflow potential of small multifamily properties, sharing how he leveraged the 1031 exchange to transition from eight to 80 units in 18 months—right before the crash in 2008. Michael also offers insight around his strategy during the crash, how he is preparing for the likely market correction, and how he might have accelerated his journey to financial freedom. Listen in to understand how Michael opened his mind to multifamily and learn how he can help you through his new platform, One Rental at a Time. Key TakeawaysHow Michael got into real estate
Michael’s initial real estate plan
How Michael financed his first deals
Michael’s transition to multifamily
The details of Michael’s first multifamily deal
Michael’s mindset shift
Michael’s strategy during the crash
Why Michael waited to quit his job
Michael’s One Rental at a Time YouTube Channel
How Michael could have accelerated the process
How Michael is preparing for the market correction
Michael’s advice for aspiring multifamily investors
Connect with MichaelOne Rental at a Time on YouTube Resources15 Year Journey to Financial Freedom Via One Rental at a Time by Michael Zuber Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Tue, 27 November 2018
While syndication is the most popular way to raise money to fund a multifamily deal, it is not the only option. A resourceful real estate investor can leverage a number of other creative possibilities. Jake Stenziano and Gino Barbaro have built an impressive portfolio without syndicating a single deal, but now they are adding the strategy to their repertoire. What drove them to add ‘investor relations’ to their skill set? In what situation might a different approach, like owner financing, be appropriate? What are the pros and cons of syndication? Jake and Gino are the co-founders of Jake & Gino, LLC, an educational platform that leverages their expertise in multifamily real estate to help others attain financial freedom by way of apartment building investing. A few short years ago, Jake and Gino were a pizza guy and a drug rep; today, they own 900-plus multifamily units. They share their creative approach on the Wheelbarrow Profits Podcast, and they are the co-authors of the Amazon bestseller, Wheelbarrow Profits: How to Create Passive Income, Build Wealth, and Take Control of Your Destiny Through Multifamily Real Estate Investing. Today, Jake and Gino join me to explain how they were able to build a portfolio without syndication, discussing the benefits of using community bankers and partnering with high-net-worth individuals. They share the case study of a 281-unit owner-financing deal and describe how good broker relationships can reveal creative financing opportunities. Jake and Gino also address the differences between community bank and agency debt and the value in understanding the story behind every deal. Listen in for insight around why Jake and Gino are adding syndication to their list of options and learn the advantages—and the drawbacks—of syndicating a multifamily deal! Key TakeawaysThe advantage of using community bankers
How to address the down payment
Jake & Gino’s owner-financed 281-unit deal
The right conditions for owner financing
Why Jake & Gino are syndicating now
The disadvantages of syndication
The difference between community bank and agency debt
What surprised Jake & Gino about syndication
How Jake & Gino raised money so quickly
What’s next for Jake & Gino
Connect with Jake & GinoEmail gino@jakeandgino.com ResourcesWheelbarrow Profits: How to Create Passive Income, Build Wealth, and Take Control of Your Destiny Through Multifamily Real Estate Investing by Jake Stenziano and Gino Barbaro Gino on Apartment Building Investing EP052 Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Tue, 13 November 2018
“When you chase money, money runs. When you’re focused on mission, you attract money.” To reach the highest levels of success in real estate, it’s important to have your mind—and heart—in the right place. If your WHY is about more than just you, if your mission has meaning, business will come to you. So, what’s driving you? Kent Clothier is the founder and CEO of Real Estate Worldwide, a real estate software and education platform that offers aspiring investors a curriculum of proven systems and technology as well as national data on real estate cash buyers and private lenders. A serial entrepreneur and digital marketing expert, he also owns and operates the multimillion-dollar brands Real Market Experts, 1-800-SELL-NOW FREE, Find Cash Buyers NOW and Find Private Lenders NOW. Today, Kent joins me to explain how his definition of success has shifted from a focus on money to a focus on impact. He offers insight on designing a meaningful mission and going all-in to reach your goals—without sacrificing your quality of life. Kent describes how he has created a life of balance, sharing the massive lessons learned from losing everything after 13 years of running his first business. Listen in for Kent’s advice on becoming a student of scale and learn the value of people, processes and technology in building a fulfilling real estate business that complements your personal life! Key TakeawaysKent’s background in real estate
How Kent’s definition of success has changed
What inspired Kent to focus on mission
Kent’s insight on the necessity of going all-in
Kent’s take on the difference between failure and success
How Kent connects with his WHY every day
How Kent creates a life of balance
Kent’s massive lesson around balance
Kent’s advice around scaling your business
Kent’s Big Hairy Audacious Goal
Connect with KentResourcesScaling Up: How a Few Companies Make It … and Why the Rest Don’t by Verne Harnish Damion Lupo on Apartment Building Investing EP079 Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Sat, 13 October 2018
Once upon a time, Michael Beeman was struggling. He had a blended family of seven kids, and his corporate salary of $60K was not making ends meet. Michael started a side business splitting firewood, and he was bringing in an additional $15K—but he wanted to do more than just survive. Michael wanted his family to thrive. So, he started listening to multifamily podcasts and real estate audiobooks while he was cutting and delivering firewood. By May of 2017, Michael had saved up $12K. His best friend and his mom contributed $20K each, and with $52K, he started looking for his first deal. Today, Michael has a 64-unit portfolio, and he is about to close on a 61-unit deal. The best part? Michael recently put in his two weeks’ notice so that he can pursue real estate investing full-time. On this episode of Apartment Building Investing, Michael sits down with me to share the details of his current 61-unit deal, discussing the value of building broker relationships for introductions to pocket listings. He explains how he began his investing career just 18 months ago and his plans to quit his corporate job at the end of the year. Michael describes how enthusiasm for multifamily investing along with creativity and perseverance helped him find his first deal and overcome the challenges he’s faced along the way. Listen in for insight on building a real estate team with the right talents and attitude and learn how Michael’s ‘never quit’ philosophy took him from splitting firewood to get by to full-time real estate investor in under two years! Key TakeawaysMichael’s current 61-unit deal
Michael’s real estate journey
How Michael found his first deal
Michael’s insight on the value of creativity
Michael’s setback in hiring the wrong contractor
How Michael built a talented team
How Michael overcame obstacles
Michael’s take on quitting his corporate job
Connect with MichaelEmail michaelbeeman@beemanandsons.com Call (217) 508-8185 ResourcesFinancial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Sat, 13 October 2018
So, you want to scale your multifamily business. What are your options? One strategy involves leading your own real estate investing meetup. But how do you get a significant number of people to attend that first meeting? Are there hacks to help you become popular FAST? And how do you follow up with the group when the time comes to raise money for a new opportunity? Adam Adams is a syndicator with BlueSpruce Holdings, a multifamily real estate investment firm focused on purchasing apartment buildings in emerging markets. He repositioned his first apartment community as a property manager in 2007 and went on to purchase his first multifamily property the same year. Adam has managed a number of single-family fix and flips, and today, he holds 100-plus multifamily rental doors. He is also the host of the Creative Real Estate Podcast and the organizer of Colorado’s most active real estate meetup group. Today, Adam joins me to discuss the recession’s impact on his multifamily career and his return to real estate in 2015. Adam walks us through his transition from single family remote fix and flips to apartment buildings, offering advice to aspiring multifamily investors around aligning with an experienced operator and ‘wearing one hat.’ Listen in for insight on the benefits of leading your own real estate meetup group and learn how Adam has leveraged meetups to raise $4.4M and become a community leader in the space! Key TakeawaysAdam’s background in real estate
The recession’s impact on Adam
Adam’s return to real estate investing
Why Adam transitioned to multifamily
Adam’s path to multifamily
The major surprises of syndication
Adam’s approach to building credibility
Adam’s advice for aspiring multifamily investors
Why Adam created a real estate meetup
How Adam has benefitted from the meetup
Adam’s hacks for creating a successful meetup
The format of Adam’s meetup
Adam’s follow-up mechanism for raising money
Adam’s insight on scaling your business
Connect with AdamThe Creative Real Estate Podcast Text MEETUP to 555 888 ResourcesRich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank The Michael Blank Coaching Program The Ultimate Guide to Buying Apartment Buildings with Private Money |
Thu, 4 October 2018
Do you struggle to remember names at networking events? Do you rely on notes when introducing a speaker or giving a presentation? Do you invest in conferences—and promptly forget what you learned? It’s not that you have a ‘bad memory.’ You simply haven’t learned the simple techniques that would allow you to improve your recall, enhance your relationships, and ultimately grow your business! Ron White is one of the top authorities on memory in the world. He won the USA Memory Championship in 2009 and 2010, and his YouTube Channel, Brain Athlete Ron White, is number 1 among memory experts. Ron speaks to audiences of all sizes all over the world, from Singapore to Ireland to Zimbabwe. He has appeared on Good Morning America, Martha Stewart Living Radio, and the Dr. Oz Show, among many other media outlets. Today, Ron joins me to explain how he became the two-time National Memory Champion, memorizing a deck of cards and a 167-digit number in record time! He describes the Afghanistan Memory Wall event in which he honors the 2,300 service men and women who died in the war and offers insight around the benefits of a good memory in improving your business and your life. Listen in for Ron’s advice on improving your recall and learn his system of visualization to quickly memorize a list of words! Key TakeawaysHow Ron became the two-time National Memory Champion
Ron’s Afghanistan Memory Wall event
The benefits of a good memory
Ron’s advice around improving your memory
Ron’s system for memorization
Connect with RonResourcesFinancial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Thu, 4 October 2018
When you know, you know. Once Kyle Collins fell in love with multifamily as an asset class, he didn’t waste any time. In 9 months, he went from zero to 112 units and quit his job to pursue real estate investing full time. Kyle is the Principal at Beechwood Holdings, a multifamily acquisition firm focused on stabilized, income-producing properties. Prior to founding Beechwood, he served as a sales rep for Martech Medical and the Director of Business Development for his family’s business, Five Rivers Conservation Group. Kyle earned a bachelor’s in finance from Georgia Southern and an MBA from Emory University. Today, Kyle sits down with me to discuss his transition to full-time real estate investor, sharing the challenges he faced finding deals early on. He explains how to build a network of brokers and potential investors as well as what questions to ask to be taken seriously. Kyle also offers advice on leveraging an experienced property manager, raising capital and investing in your own deal. Listen in for insight around setting realistic expectations and learn how to divide your time among raising money, prospecting deals and running the operations of your portfolio! Key TakeawaysKyle’s background and education
Kyle’s transition to real estate
The challenges Kyle faced early on
Kyle’s advice around building a network
Kyle’s advice on being taken seriously
The questions to ask when you see a property
How Kyle leveraged his property management firm
Kyle’s guidance around raising capital
The importance of being excited about a deal
How to reconcile desire with prudence
Kyle’s first 112-unit deal
The value of a quality property manager
What’s next for Kyle
Kyle’s insight on the level of effort necessary
Kyle’s top tips for aspiring multifamily investors
Connect with KyleEmail kcollins@beechwoodholdings.com ResourcesFinancial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Tue, 2 October 2018
If you ask people at the end of their lives to reflect on their regrets, no one ever mentions money or work. Instead, their focus tends toward the relationships they neglected. So, when Ken McElroy realized he only had one shot at having a great rapport with his kids, he got serious about designing a life of balance that allows him to grow a successful real estate business AND be fully present with his family. Ken has 20-plus years of experience in real estate investment analysis, property management, acquisitions and property development. Ken serves as an advisor to Robert Kiyosaki of The Rich Dad Company, and he is the author of the bestselling books The ABCs of Real Estate Investing, The ABCs of Property Management, and The Sleeping Giant. An advocate for entrepreneurs and real estate investors, Ken makes regular media appearances and speaks at top industry events all over the world. He is also the host of Entrepreneur magazine’s Real Estate Radio program. Today, Ken joins me to share his insight around work-life balance, explaining why he takes time away to work ON the business and connect with his family. He describes how his definition of success has changed over time and how the decision to prioritize relationships translates to his business. Listen in to understand Ken’s take on limiting beliefs and learn how he approaches life with a commitment to being self-aware and fully present. Key TakeawaysWhy Ken spends 3 months in Idaho every summer
Ken’s insight on work-life balance
Ken’s transition from employment to entrepreneurship
Ken’s goals around financial freedom
How Ken’s definition of success has changed over time
Ken’s decision to focus on family and relationships
How Ken’s shift in priorities translates to his business
Why Ken sees BE as the most important aspect of Be-Do-Have
Ken’s take on limiting beliefs
How to work through limiting beliefs
What gets Ken out of bed in the morning
Ken’s view of spirituality
Connect with KenResourcesWin a Signed Copy of Ken’s Book Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki Awareness by Anthony DeMello The Untethered Soul: The Journey Beyond Yourself by Michael A. Singer The Power of Now: A Guide to Spiritual Enlightenment by Eckhart Tolle Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Tue, 2 October 2018
“When you pay somebody that’s been where you want to go, you’re buying WISDOM without the WAIT.” If you want to succeed as a multifamily real estate investor, your best bet is to take advantage of free resources for a basic education and then find someone you know, like and trust who is willing to mentor you—even if you have to pay for their time. Larry Goins is a veteran real estate investor with 20-plus years of experience in the space. He travels the US speaking at conventions and expos, sharing his strategies for buying a dozen properties every month—without leaving his office! Larry is also the president of both Investors Rehab and The Goins Group, and he hosts the popular real estate podcasts BRAG Radio and Brain Pick-A-Pro. Larry is committed to holding true to his moral integrity in his business and personal life. Today, Larry sits down with me to offer advice for aspiring investors around finding a mentor and ‘accelerating the splat’ when necessary. He shares his favorite real estate strategies and explains how he has systematized his business around seller financing and lease option models. Listen in to understand what motivates Larry to continued success in real estate and learn how he pays it forward by putting people and principles BEFORE profits! Key TakeawaysHow Larry got his start in real estate
Larry’s favorite real estate strategies
How Larry has systematized his business
Larry’s advice for aspiring investors
Larry’s concept of accelerating the splat
What motivates Larry to success in real estate
How Larry puts people and principles before profit
What gets Larry out of bed in the morning
Connect with LarryResourcesFinancial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Thu, 13 September 2018
MB 126: The BEST EVER Advanced Multifamily Strategies for Raising Money at Scale – With Joe Fairless
If you’re early in your career as a multifamily syndicator, a qualified team is essential in overcoming your lack of experience to go after larger, more lucrative deals. But how do you attract and align your interests with those prospective team members? And once you’ve established a track record of your own, how do you stay in front of your investors and continue to scale your money raising efforts? Joe Fairless is Managing Partner with Ashcroft Capital, a national multifamily investment firm focused on major metropolitan areas. Joe has been investing in real estate since 2008, and to date, he controls more than $400M of real estate in the Houston and DFW regions. Joe is also the host of the popular daily podcast, Best Real Estate Investing Advice Ever, and the author of several books on real estate investing, including the newly released Best Ever Apartment Syndication Book. Today, Joe joins me to discuss his impetus for writing the Best Ever Apartment Syndication Book and explain his belief in the Law of Reciprocity. He shares several of the advanced aspects of syndication outlined in the new book, including 4 ways to align interests with team members and pursue larger deals early on—in a safe way. Listen in for Joe’s insight on multifamily as a partnership business and learn his intentional system for staying top-of-mind with investors, adding value in a variety of ways on a regular basis! Key TakeawaysWhy Joe wrote the Best Ever Apartment Syndication Book
Joe’s 4 ways to gain credibility through aligned interests
Joe’s insight on real estate as a partnership business
Joe’s approach to staying top-of-mind with investors
Connect with JoeEmail info@joefairless.com ResourcesBest Ever Apartment Syndication Book by Joe Fairless and Theo Hicks The 4-Hour Workweek: Escape the 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss Kathy Fettke at Real Wealth Network Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Tue, 4 September 2018
Are you still skeptical of the idea that you can build a real estate business using other people’s money? Or, maybe you don’t think that your network has access to the kind of capital you would need for a multifamily investment. Matt Faircloth argues that you simply don’t know where to look, and he is living proof that with the right approach, you can develop a robust real estate portfolio by raising private capital. Matt is the co-founder of The DeRosa Group, a real estate investment firm headquartered in Trenton, New Jersey. Matt and his wife, Liz, have been investing in real estate since 2004, and they have vast experience with single family, multifamily, office and retail properties. Matt’s firm has completed more than $30M in real estate transactions involving private capital, and he is the author of Raising Private Capital: Building Your Real Estate Empire Using Other People’s Money. Today, Matt joins me to share his journey from house hacker to full-time real estate investor. He offers insight around taking capital from friends and family, educating your network on where to find the money to invest, and aligning with a seasoned partner. Listen in to understand the three different investment opportunities Matt offers through DeRosa Group and learn his transparent, jargon-free approach to raising capital. Key TakeawaysMatt’s introduction to real estate
Matt’s transition to full-time real estate investor
Why it took Matt several years to find his niche
Matt’s shift to raising money from investors
Matt’s insight on taking money from friends and family
How to overcome a lack of track record
Matt’s advice for aspiring investors looking to partner
The three investment options Matt offers
The argument for real estate investment over other asset classes
Matt’s approach to raising capital
Where to find money in your own network
Matt’s three tiers of raising capital
Connect with MattResourcesRaising Private Capital: Building Your Real Estate Empire Using Other People’s Money by Matt Faircloth Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank Rich Dad Poor Dad: What the Rich Teach Their Kids About Money—That the Poor and Middle Class Do Not by Robert T. Kiyosaki |
Thu, 30 August 2018
What could possibly go wrong? If you are the proud owner of a multifamily property, the answers range from minor falls to catastrophic weather events. How can you mitigate the risk and reduce your total number of claims? And what kind of multifamily insurance coverage do you need to manage the circumstances outside your control? Bryan Shimeall is the Vice President of Multifamily Risk Advisors, a division of Tanner, Ballew and Maloof formed to leverage the firm’s 20-plus years of experience handling insurance for the multifamily industry. Bryan is dedicated to delivering customized solutions that mitigate risk for apartment building investors, and he is an expert in the realm of risk assessment and exposure to loss. Today, Bryan sits down with me to share his definition of and approach to risk assessment. He discusses the most common gaps in multifamily coverage, the most common property and liability claims, and the best strategies for mitigating risk. Bryan also explains when to pursue a master policy and the fundamentals of catastrophic coverage. Listen in for insight on the benefits of working with a risk management consultant and learn what to look for in a multifamily insurance policy! Key TakeawaysThe role of Multifamily Risk Advisors
Bryan’s definition of risk assessment
Bryan’s approach to risk assessment
The most common gaps in coverage
How operators can manage risk
The most common claims
The disadvantages of the ‘trailing 12 premium’
The benefits of working with a risk management consultant
How Multifamily Risk Advisors can assist during the acquisition phase
When to pursue a master policy
The fundamentals of catastrophic coverage
The most common mistake among investors
Connect with BryanEmail bshimeall@multifamilyra.com ResourcesFinancial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Wed, 29 August 2018
As an aspiring real estate investor, you possess a spirit of independence as well as a desire for financial freedom. What if you could take that self-determination to the next level and essentially become your own bank? Patrick Donohoe is on a mission to teach you how to take control of your money with the Perpetual Wealth Strategy, taking advantage of a particular kind of life insurance policy to facilitate real estate investment, secure retirement funds, and build a legacy that you can pass on to your children. Patrick is the president and CEO of Paradigm Life, a financial services firm committed to changing the way their clients look at life and wealth. The Paradigm team supports thousands of individuals and businesses in creating income for life and leaving a meaningful legacy. Patrick is a sought-after speaker in the realm of wealth management and investment, and he serves as the host of The Wealth Standard podcast. He is also the author of Heads I Win, Tails You Lose: A Financial Strategy to Reignite the American Dream. Today, Patrick joins me to share the benefits of the Perpetual Wealth Strategy and explain how it serves as the foundation for fulfilling the true American Dream. He offers insight around how a specifically-designed whole life insurance policy works, why its interest rate is so much higher than a savings account, and how the policy gives you a line of credit to borrow against for investment purposes. Listen in for Patrick’s advice around leveraging the Perpetual Wealth Strategy to generate passive income, pass on a legacy, and take control of your wealth—the way the rich do! Key TakeawaysHow Patrick came to start his business
Patrick’s definition of the American Dream
The benefits of the Perpetual Wealth Strategy
The concept of liquid wealth
Who this type of policy is for
The interest associated with a Perpetual Wealth policy
The power of the Perpetual Wealth policy credit line
How Patrick uses his own policy
How a Perpetual Wealth policy serves as a passive income generator
Connect with PatrickResourcesHeads I Win, Tails You Lose: A Financial Strategy to Reignite the American Dream by Patrick H. Donohoe Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not by Robert T. Kiyosaki Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Fri, 17 August 2018
Real estate was a big winner in the tax reform bill passed in December 2017. So, how exactly do the new laws impact us as passive multifamily investors and syndicators? And how can we take advantage of the new regulations and use the available incentives to reduce the amount of money we owe the government? Tom Wheelwright, CPA is the CEO of WealthAbility, a community of CPAs dedicated to reducing taxes and creating wealth for their clients. As a Rich Dad Advisor for Robert Kiyosaki, Tom is a well-known keynote speaker in the realm of wealth building and tax strategy. He is a regular contributor to publications including Forbes, The Huffington Post, Entrepreneur Magazine and Inman News, and Tom is the author of Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes. Today, Tom joins me to explain how to shift the way you think about taxes, viewing the law as a roadmap to reducing how much you pay. He discusses the new laws around bonus depreciation, describing how both passive investors and syndicators benefit from the revised guidelines. Tom also shares the regulations around the 20% deduction and the changes in Section 179 that impact residential and commercial real estate investors. Listen in for insight around qualifying for the status of real estate professional and learn how to significantly reduce your taxes as a multifamily investor! Key TakeawaysHow Tom came to start his own network of CPA firms
How to shift the way you think about taxes
The new laws around bonus depreciation
How the new tax laws affect passive investors
How the new tax laws may impact syndicators
The changes around the 20% deduction
The changes to Section 179
How to qualify for the status of real estate professional
The tax benefits of being a real estate professional
Connect with TomResourcesTax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes, Second Edition by Tom Wheelwright, CPA Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Thu, 16 August 2018
If the extent of your financial education involved learning how to be a good employee, trading your time for money, then you’re probably beginning to realize that you simply can’t save yourself into wealth. But how do the multimillionaires and billionaires among us grow their assets? What strategies do they implement to generate passive income—from multiple sources? Brian Fouts has identified the shared patterns among high-net-worth individuals, what he calls the 5 Pillars of Elevated Wealth, and he is on a mission to share this information with you and me. Brian is the co-owner and CEO of The Elevation Group, an online membership platform that seeks to teach the world how to invest like the rich. Brian and his brother Jake are passionate about empowering people to create and grow wealth by way of financial literacy, and The Elevation Group affords access to a network of true expert advisors who can support you in implementing the investment strategies of the wealthiest among us. Today, Brian sits down with me to share the 5 Pillars of Elevated Wealth. He explains how to generate supplemental income through a side hustle and put that money to work for you. Brian addresses the importance of safeguarding the money you have through entity protections and tax incentives. Finally, he describes how to acquire assets that generate passive income and why it’s smart to pursue multiple sources of revenue. Listen in for Brian’s advice around keeping your money in a life insurance vehicle and learn how The Elevation Group can help you build wealth by way of portfolio and passive income! Key TakeawaysHow Brian got involved with EVG
The 1st Pillar of Elevated Wealth: Do something different
The 2nd Pillar of Elevated Wealth: Take the money off the table
The 3rd Pillar of Elevated Wealth: Protect what you have
The 4th Pillar of Elevated Wealth: Acquire assets to earn passive income
The 5th Pillar of Elevated Wealth: Pursue multiple sources of income
The benefits of The Elevation Group platform
The advantages of keeping your money in a life insurance vehicle
Brian’s insight around the 3 sources of income
Connect with BrianEmail brian@theelevationgroup.com ResourcesFinancial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank |
Tue, 14 August 2018
What is the quickest route to financial freedom through real estate? Do not pass Go. Do not collect $200. Go directly to… Multifamily. But how do you overcome a lack of experience and capital to accelerate the timeline and jump straight into apartment building investing? Josh Eitingon is the founder and manager of JAE Property Group, a real estate investment company specializing in 50- to 150-unit value-add multifamily properties outside the New York metro area. With the guidance of a coach, Josh made his first multifamily investment in 2012, and now he is up to eight deals. He began his real estate career while working as a software developer, eventually joining a Long Island investment group where he led the acquisitions team in securing $100M in real estate. Today, Josh is a full-time investor in his own right. Josh joins me to discuss the early investment in a coach that facilitated his shortcut to multifamily. He addresses how he overcame a lack of experience to do his first 20-unit deal and the personal guarantee he made investors to raise $200K for the renovation. Josh explains what he loves most about multifamily investing, describing the challenge of finding a formula to optimize each new property. Listen in for Josh’s advice around investing in your own deals, choosing the right location, and scaling up a multifamily business. Key TakeawaysHow Josh got started in real estate
Why Josh invested in a coach
Why Josh went straight to multifamily
How Josh overcame a lack of experience and money
How Josh overcame his reluctance to do the first deal
The factors for success on Josh’s first deal
How Josh raised $200K for the deal
The additional risk of raising money in debt
How Josh’s first multifamily deal played out
Josh’s subsequent multifamily investments
What’s next for Josh
What Josh loves about the business
The challenges of scaling a multifamily business
Josh’s advice for aspiring multifamily investors
Josh’s AHA moment around location
Josh’s top mistakes
Connect with JoshResourcesFinancial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not by Robert T. Kiyosaki The Ultimate Guide to Buying Apartment Buildings with Private Money The Michael Blank Coaching Program Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
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Mon, 13 August 2018
‘The cost of my self-education was six figures in mistakes and seven [or] eight figures in lost opportunity.’ If you have a poverty mindset, investing money in a mentor or spending more for a qualified contractor seems like a burden. But if you have an abundance mentality, it becomes obvious that spending a little more up front for coaching and devoting your time to the activities that will grow your multifamily business result in higher revenue long-term. Jack Petrick is the owner of Petrick Property Group, a real estate firm that specializes in multifamily acquisitions and improvements. He spent 15 years working as a firefighter in the Cleveland suburb of Strongsville, Ohio, before leaving to pursue real estate full-time. Jack’s team focuses on on- and off-market multifamily assets, and to date, he has 100-plus rental units in Ohio and Florida. Today, Jack joins me to discuss his initial experience as a self-taught custom home builder. He shares the major shift that took him from a poverty mindset to an abundance mentality and describes how he would use his time differently if he could go back to those early days. Jack explains the importance of mentoring and masterminds, the concept of forced appreciation, and the decision to hire an assistant that doubled his revenue. Listen in to understand what inspired Jack’s shift to multifamily investing and learn how to follow in his footsteps—by way of a laser focus on raising capital, finding deals and improving processes. Key TakeawaysJack’s introduction to real estate
Jack’s major mindset shift
How Jack would use his time differently
What stopped Jack from leaving his job sooner
How Jack got clear on what’s important
Jack’s insight around mindset
Jack’s transition to multifamily
The concept of forced appreciation
Jack’s first multifamily deal
The value of hiring an assistant
What’s next for Jack
Connect with JackResourcesFinancial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not by Robert T. Kiyosaki Go for No! Yes is the Destination, No is How You Get There by Richard Fenton and Andrea Waltz The Ultimate Guide to Buying Apartment Buildings with Private Money The Michael Blank Coaching Program Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
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Tue, 31 July 2018
The vast majority of us get into multifamily investing because we are hungry for time freedom. We want the flexibility to spend time with our families or travel or go to the gym in the middle of the day if we so choose. But many of us lose sight of that original goal in the pursuit of financial freedom. Our focus on earning money translates to doing ALL of the work ourselves, and before long, we are caught in an unsustainable cycle—doing tasks like bookkeeping and writing investor reports that undervalue our time and pull us away from the work only we can do: finding deals and raising money. So, how do we calculate the value of our time and make informed decisions about what to delegate? How do we hit the reset button and return our focus to the time wealth that inspired us to pursue apartment building investing in the first place? Mark Dolfini is the founder of Landlord Coach, a mentoring program and business course for landlords and property managers. He is also the author of The Time-Wealthy Investor, Your Real Estate Roadmap to Owning More, Working Less, and Creating the Life You Want. Mark is on a mission to help multifamily investors realize the value of their time and design an intentional business that affords them both financial freedom and time wealth. Today, Mark joins me to discuss his early interest in the idea of owning real estate and his gradual accumulation of 92 rental properties. He shares the mistakes he made in trying to do all the work himself that led to his Jerry Maguire moment in 2008 when he lost $4.5M overnight and ended up in the hospital with double pneumonia. Mark describes the mindset shift that helped him transition from self-employed to business owner and the VIP System he designed to create a sustainable real estate venture. Listen in for Mark’s insight on the concepts of life output and time wealth—and learn how to determine what your time is worth and delegate accordingly! Key TakeawaysMarks’s early interest in real estate
How Mark accumulated 92 rental properties
Mark’s Jerry Maguire moment in 2008
How Mark transitioned from self-employed to business owner
Mark’s VIP system
The concept of life output
How to determine the value of your time
Connect with MarkResourcesThe Judge: A Landlord’s Tale by Mark Dolfini Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_122_-_Becoming_a_Time-Wealthy_Multifamily_Investor__With_Mark_Dolfini.mp3
Category:Commercial Real Estate -- posted at: 5:47pm EDT |
Tue, 31 July 2018
There are five key phases in the multifamily investing process, and the property manager you hire plays a key role in nearly every stage. So, what should you look for in a property management company? And what KPIs can you use to assess the property manager’s performance? Bryan Chavis is a thought-leader in the realm of multifamily property management and the bestselling author of Buy It, Rent It, Profit and The Landlord Entrepreneur. He is also the founder of The Landlord Property Management Academy, an online platform for real estate professionals and property management certification. Bryan was named one of the top 40 up-and-coming entrepreneurs under 40 by the Gulf Coast Business Review, and he is a sought-after speaker and consultant for some of the largest housing authorities in the US. Today, Bryan sits down with me to share his journey, discussing the obstacles he has overcome and his unique approach to ‘embracing adversity.’ He walks us through the five phases of multifamily investment, discussing the current challenges around the acquisitions process and the fundamentals of the implementation stage. Bryan explains what to look for in a property management company and the Key Performance Indicators he reviews on a monthly basis. Listen in for Bryan’s insight on finding a property manager who is proactive and learn to relish the journey as a multifamily investor! Key TakeawaysBryan’s introduction to real estate
Bryan’s key takeaways as a property manager
What inspired Bryan to branch out on his own
The adversity Bryan had to overcome
Bryan’s approach to ‘embracing adversity’
Bryan’s 5 phases of a multifamily investment
The current challenges around acquisitions
Bryan’s view of the implementation phase
How to avoid mistakes during the acquisitions process
What to look for in a property management company
The difference between a proactive and reactive property manager
Bryan’s approach to overseeing a property manager
Bryan’s Key Performance Indicators (KPIs)
Bryan’s current mission
Connect with BryanCall 1-800-535-2476 ResourcesBuy It, Rent It, Profit: Make Money as a Landlord in ANY Real Estate Market by Bryan M. Chavis The Ultimate Guide to Apartment Building Investing Michael’s Syndicated Deal Analyzer Michael’s Deal Maker Mastermind Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_121_-_Proactive_Property_Management_in_the_5_Phases_of_Multifamily__With_Bryan_Chavis.mp3
Category:Commercial Real Estate -- posted at: 5:37pm EDT |
Fri, 13 July 2018
You don’t necessarily need an enormous multifamily portfolio to achieve financial freedom. It is possible to start small and replace your income with modest holdings of just 20 units! Aaron Howell is a small multifamily investor with Black Lick Holdings, a real estate firm based in Crozet, Virginia. With a portfolio of 22 rental units, Aaron has replaced his income as a pharmacist and now works part-time because he WANTS to, not because he HAS to. Today, Aaron joins me to share his accidental introduction to real estate and when he was finally inspired to develop a strategic plan. He describes the light bulb moment when he realized the income potential of a duplex versus a single-family property and how he fostered the confidence to pursue multifamily despite a lack of experience. Aaron walks us through his first several deals, explaining how he financed the most recent 6-unit through a partnership. Listen in for Aaron’s insight around building in daily habits to stay motivated and learn how he achieved financial freedom with a small portfolio! Key TakeawaysAaron’s introduction to real estate
Aaron’s start in single family
What inspired Aaron to develop a strategic plan
Why Aaron was confident in small multifamily investments
How Aaron financed his first multifamily deals
Aaron’s take on partnerships vs. syndication
Aaron’s transition to working part-time
Aaron’s real estate plans for the future
Aaron’s insight around financial freedom
Aaron’s advice for aspiring multifamily investors
How Aaron stays motivated
Connect with AaronEmail ahowell7@hotmail.com ResourcesMichael on the Joe Fairless Podcast The Ultimate Guide to Apartment Building Investing Michael’s Syndicated Deal Analyzer Michael’s Deal Maker Mastermind Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_120_-_20_Units_to_Financial_Freedom_with_Multifamily__With_Aaron_Howell.mp3
Category:Commercial Real Estate -- posted at: 12:23pm EDT |
Mon, 9 July 2018
Whether you are looking to become a multifamily syndicator or money raiser, it is difficult to get your foot in the door if you’ve never been involved in a deal. So, how do you build a resume without any experience or capital to speak of? The answer lies in partnerships with someone who’s done it before! Danny Woodford is a Managing Partner at Mission Bay Investments, a multifamily investment firm with properties in the Mid-Atlantic, Southeast and Texas markets. Mission Bay is focused on value-add opportunities of 100-plus units, and the firm has closed on five deals of nearly 1K units to date. Prior to real estate, Danny served in the military, working to develop the space capabilities of the United States. He holds a master’s in real estate development from George Mason University. Today, Danny joins me to explain what inspired him to retire from the military and pursue real estate. He walks us through his initial single family business model and the AHA moment that motivated his transition to multifamily. Danny offers the details of his first two multifamily deals in Richmond, Virginia, sharing the reasons why he continues to source deals despite the challenging market. Listen in for Danny’s insight around bringing a deal to a potential partner and learn how to build your multifamily resume by teaming up with someone who’s been there! Key TakeawaysWhat inspired Danny’s shift from the military to real estate
How Danny found the time to get educated in real estate
Danny’s initial business model
Why Danny made the transition to multifamily
Danny’s first multifamily deal
Danny’s second multifamily deal
Why Danny is finding deals despite a challenging market
The value of partnering as a money raiser
Danny’s advice for aspiring multifamily investors
How to bring a deal to a potential partner
What Danny is looking for in money-raising partners
Connect with DannyCall (661) 816-0335 Email daniel@missionbayinvestments.com ResourcesThe Ultimate Guide to Apartment Building Investing Michael’s Syndicated Deal Analyzer Michael’s Deal Maker Mastermind Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_119_-_Building_Your_Multifamily_Resume_Through_Partnerships__With_Danny_Woodford.mp3
Category:Commercial Real Estate -- posted at: 2:19pm EDT |
Mon, 2 July 2018
The attitude toward cannabis has shifted: 64% of Americans support the legalization of marijuana, 93% support medical consumption, and the drug is legal in nine states plus Washington, DC. By 2028, the cannabis space is projected to be a $60B industry. So, what does that mean for us as real estate investors? How can we take advantage of the need for property to grow, manufacture and sell cannabis products? Leslie Plettner is the director of BaseCanna, a team of cannabis, legal, finance and real estate experts who provide the funding, infrastructure and property for cannabis entrepreneurs. Leslie is a long-time entrepreneur with extensive experience in real estate. She has developed and managed more than 500 units, including a mix of warehouse, multifamily and retail properties. Three years ago, Leslie anticipated the emergence of the cannabis industry and recognized its need for cannabis-friendly landlords, and the idea for BaseCanna was born. Today, Leslie joins me to describe BaseCanna’s work in developing an ecosystem of cannabis operators and the market opportunity in the space for real estate developers. She shares the risks of cannabis real estate, both perceived and real, and explains how BaseCanna makes decisions around who to work with. Listen in for Leslie’s insight on the appreciation of a property once it’s licensed for cannabis and learn why now is the right time to get into cannabis real estate! Key TakeawaysThe mission of BaseCanna
Leslie’s background as an entrepreneur
BaseCanna’s current work
The market opportunity in cannabis real estate
The myths around owning cannabis real estate
The real risks around owning cannabis real estate
How BaseCanna makes decisions around who to work with
The appreciation on a property once it’s licensed for cannabis
The permitting process for cannabis real estate
Leslie’s advice on having an exit strategy
Leslie’s insight on getting in the cannabis game now
Connect with LeslieResourcesUCLA Study on Crime & Dispensaries The Rohrabacher-Blumenauer Amendment The Ultimate Guide to Apartment Building Investing Michael’s Syndicated Deal Analyzer Michael’s Deal Maker Mastermind Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_118_-_Investing_in_the_Growing_Cannabis_Industry_Through_Real_Estate__With_Leslie_Plettner.mp3
Category:Commercial Real Estate -- posted at: 1:12pm EDT |
Mon, 2 July 2018
Anna Simpson’s philosophy is that you don’t make money in your comfort zone. Once she has achieved a goal, Anna finds a way to push her limits and look forward to the next. And when things start to get difficult, that’s when Ana knows she needs to keep digging: She’s getting closer to the gold. Anna is a full-time accredited multifamily investor and deal sponsor with experience in property valuation, acquisition, rehabilitation, leasing and asset management. She got her start investing in single family buy and holds before making the decision to transition to multifamily as a passive investor. Anna personally invested in 1,300 multifamily units as an equity partner and key principal before she was ready for the next challenge of becoming a managing partner. Today, Anna has completed two multifamily deals: a 70-unit syndication and a 76-unit 1031 exchange. Today, Anna sits down with me to share her decision to work ON the business rather than IN it by making the shift to multifamily. She explains how she leveraged her role as a passive investor to learn the fundamentals of syndication and the key challenge she faced in landing her first deal as managing partner. Anna offers insight around the value of persistence and breaking big goals down into smaller chunks. Listen in for Anna’s advice on pushing beyond your perceived limits and learn why she believes that while knowledge is important, true power lies in consistent ACTION. Key TakeawaysHow Anna got involved with real estate
Anna’s initial investment strategy
Anna’s shift to multifamily
What Ana learned as a passive investor
Anna’s first multifamily deal
Anna’s approach to goal-setting
Anna’s key challenge in landing her first multifamily deal
How the Law of the First Deal impacted Anna
Anna’s insight on the value of persistence
What Anna would do differently given the opportunity
Anna’s advice for aspiring real estate investors
How Anna navigates the down days
Connect with AnnaResourcesRich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not by Robert T. Kiyosaki Michael’s Deal Maker Mastermind Michael’s Syndicated Deal Analyzer Michael’s Deal Maker Mastermind Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_117_-_Pushing_Your_Limits_to_Strike_Multifamily_Gold__With_Anna_Simpson.mp3
Category:Commercial Real Estate -- posted at: 1:12pm EDT |
Fri, 15 June 2018
Alan Schnur was away on a business trip when a plane struck his office building, killing 40 of his 44 team members. In the aftermath of 9/11, Alan spent a lot of time questioning what he wanted out of life and the experience informed his drive for continuous growth. Because you never know when another plane is coming, Alan doesn’t believe in complacency. In fact, he makes it a point to reinvent himself every few years and take on new challenges in residential and commercial real estate. Alan is a wildly successful real estate investor based in Houston, Texas. He began his real estate career rehabbing single family homes, owning a portfolio of 120 before making the transition to apartment buildings. Alan’s go-big-or-go-home mindset translated to multifamily, and he invested in 2K units across 18 complexes—AND founded a property management company that handled 7K units across 40 properties. Now he is taking on a new challenge in commercial real estate, investing in shopping centers along with medical, office and warehouse buildings. Alan is the author of three books on real estate investing, including The Cashflow Mindset: Millionaire, Billionaire & Zillionaire Designs for Financial Freedom & a Fulfilled Life. Today, Alan joins me to share the story of his reawakening in the aftermath of 9/11 and explain how his skill set as a commodities broker translated to real estate investing. He speaks to the single family formula that dominated the first ten years of his career and his subsequent shift to apartment buildings during a trip to Japan that may or may not have involved saké. Alan describes his apartment addiction, discussing his best and worst multifamily deals as well as his reasons for pursuing syndication. Listen in for Alan’s insight on being flexible with geography and asset classes, taking on new challenges in commercial real estate, and stepping out of your comfort zone to take ACTION! Key TakeawaysAlan’s AHA moment
Alan’s experience with single family homes
Why Alan made the transition to multifamily
Alan’s first multifamily acquisition
Alan’s ‘addiction’ to apartments
When Alan got involved with syndication
Alan’s best multifamily deal: The Bangkok Close
Alan’s worst multifamily deal
Alan’s shift to commercial properties
Alan’s shopping center deal in Boise, ID
Alan’s outlook on asset classes
Alan’s advice for aspiring real estate investors
What Alan is excited about moving forward
Connect with AlanResourcesThe Cashflow Mindset: Millionaire, Billionaire, Zillionaire Designs for Financial Freedom & a Fulfilled Life by Alan Schnur International Council of Shopping Centers National Apartment Association National Real Estate Investors Association Michael’s Syndicated Deal Analyzer Michael’s Deal Maker Mastermind Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_116_-_Reawakening_Reinvention__Opportunities_in_Commercial_Real_Estate__With_Alan_Schnur.mp3
Category:Commercial Real Estate -- posted at: 1:16pm EDT |
Fri, 15 June 2018
If you are new to the idea of raising money to invest in apartment buildings, the particulars of complying with SEC regulations may have you spooked. No one wants to inadvertently break the law and face restitution, sanctions, or worse—fines and jail time! The good news is, with an assist from an SEC attorney, it is not as difficult to comply with securities laws as you might think. Mauricio Rauld is the founder and CEO of Premier Law Group, a boutique securities firm specializing in asset protection and SEC compliance. Mauricio has 18-plus years of experience helping multifamily investors increase and safeguard their wealth through syndications. He is a regular contributor to The Real Estate Guys Radio show and a faculty member of the Summit at Sea, a week-long conference for elite real estate entrepreneurs. In addition, Mauricio serves as legal advisor to The Real Estate Guys and asset protection advisor for The Elevation Group. Today, Mauricio sits down with me to explain his role as a syndication lawyer. He discusses the two legal routes to SEC compliance, the idea of a ‘preexisting substantive relationship,’ and the consequences of breaking the law. Mauricio shares the difference between 506(b) and 506(c), describing the right way to use social media to connect with investors under each exemption. Listen in as Mauricio walks us through the process of working with an SEC attorney, including the general timeline and approximate cost for ensuring compliance with securities law. Key TakeawaysMauricio’s role as a syndication lawyer
What qualifies as a security
The two legal routes to compliance
The consequences of not following the law
Mauricio’s advice around disclosures
The benefit of using an exemption
The features of the 506(b) exemption
The features of the 506(c) exemption
The idea of a preexisting substantive relationship
How to use social media to connect with investors under 506(b)
The process of working with an SEC attorney
Mauricio’s insight around the timeline and general cost of compliance
Connect with MauricioEmail cs@premierlawgroup.net ResourcesMichael’s Syndicated Deal Analyzer Michael’s Deal Maker Mastermind Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_115_-_Enlisting_an_SEC_Attorney_to_Protect_Yourself__Ensure_Compliance__With_Mauricio_Rauld.mp3
Category:Commercial Real Estate -- posted at: 1:05pm EDT |
Wed, 13 June 2018
Every human interaction is a negotiation. Whether you are communicating with employees, investors, friends or family, the language of give-and-take is at play. And the fact of the matter is, if you don’t ask, you don’t get. So, how can we leverage the ten commandments of negotiation to get more of what we want in the realm of multifamily real estate—and life in general? Stefan Aarnio is an award-winning real estate investor, entrepreneur and author. He was named one of the Top 10 Real Estate Influencers to Follow by Entrepreneur magazine in 2017 and inducted into the Rich Dad International Hall of Fame in 2014. Stefan is the author of four books on real estate investment and negotiation, including X: The Ten Commandments of Negotiation. Today, Stefan joins me to share the story of how he went from poor musician to millionaire real estate investor by becoming a student of negotiation. He walks us through his ten commandments of negotiation, explaining the importance of gathering information before you make an offer as well as having clearly written goals going into a negotiation. Stefan speaks to the idea of presenting an ‘offer of greater value’ and making people work for concessions. Listen in for Stefan’s insight around emotional decision-making and the key commandment of negotiation: Get what you want and get out! Key TakeawaysStefan’s journey from poor musician to millionaire real estate investor
The importance of negotiation in real estate and life in general
The cultural differences around negotiation
Commandment #1: Get what you want and get out
Commandment #2: Adopt a pleasing personality
Commandment #3: Prepare diligently and collect information
Commandment #4: Know what you want and have clearly written goals
Commandment #5: Gather information before making an offer
Commandment #6: Always present an offer of greater value
Commandment #7: Do not give concessions freely
Commandment #8: Take what they WANT, but give what they NEED
Commandment #9: Obey non-linear time in the negotiation process
Commandment #10: Become a student of human nature and irrationality
How the dynamics of negotiation change when a broker is involved
Connect with StefanX: The Ten Commandments of Negotiation ResourcesSelf Made: Confessions of a Twenty Something Self Made Millionaire by Stefan Aarnio X: The Ten Commandments of Negotiation by Stefan Aarnio Rich Dad Poor Dad: What the Rich Teach Their Kids About Money—That the Poor and Middle Class Do Not! by Robert T. Kiyosaki Blackbook Journal by Stefan Aarnio Michael’s Syndicated Deal Analyzer Michael’s Deal Maker Mastermind Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_114_-_The_Ten_Commandments_of_Negotation_-_With_Stefan_Aarnio.mp3
Category:Commercial Real Estate -- posted at: 2:07pm EDT |
Fri, 8 June 2018
Courage isn’t about being fearless. Courage is about feeling the fear but ‘saddling up anyway.’ When Peter Conti bought his first duplex, he admits that he was shaking. But Peter knew that he had to make a change to life the life he wanted, to be free from the humiliation of a boss who reprimanded him for drinking coffee meant for ‘customers only.’ Peter was highly motivated to leave his job as a mechanic and become a multifamily real estate investor, and that deep desire for financial freedom propelled him to take action. Peter went from auto mechanic to self-made millionaire in just over three years, using creative financing to invest in both residential and commercial real estate. He started small, buying a duplex, a couple of 4-units, and a 12- and 24-unit before working his way up to shopping centers and 300-unit complexes. He has mentored thousands of investors all over the world and supported many more through his books on multifamily and commercial real estate investing. Today, Peter sits down with me to describe the moment he decided to take charge of his own financial destiny. He walks us through that first investment in a duplex and the meeting at Chucky E. Cheese that inspired him to invest in a mentor. Peter offers advice around mitigating risk via exit clauses and acquiring property through seller financing or the use of a master lease. Listen in to understand Peter’s unique approach to recovering from a serious motorcycle accident and what he learned in the process that applies to multifamily investing specifically—and life in general! Key TakeawaysThe turning point that propelled Peter into action
Peter’s first investment in a duplex
How Peter got over the hump to make his next investment
Peter’s advice around mitigating risk
Peter’s guidance around seller financing
Peter’s approach to getting started in commercial real estate
What Peter learned in recovering from his motorcycle accident
What’s next for Peter
Peter’s top advice for aspiring real estate investors
How Peter wants to be remembered
Connect with PeterResourcesMaking Big Money Investing in Foreclosures Without Cash or Credit by Peter Conti Making Big Money Investing in Real Estate: Without Tenants, Banks, or Rehab Projects by Peter Conti and David Finkel Commercial Real Estate Investing for Dummies by Peter Conti and Peter Harris Wild: From Lost to Found on the Pacific Crest Trail by Cheryl Strayed 1 Simple Strategy to Escape the 9 to 5 by Peter Conti Michael’s Syndicated Deal Analyzer Michael’s Deal Maker Mastermind Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_113-_From_Auto_Mechanic_to_Self-Made_Millionaire_Through_Multifamily__With_Peter_Conti.mp3
Category:Commercial Real Estate -- posted at: 11:41am EDT |
Tue, 5 June 2018
“It’s these little things that we do every day that get us closer. I remember climbing a mountain in high school, and the guide told us, ‘Don’t look at the summit. Focus on putting one foot in front of the other, and the summit will take care of itself.’ That’s exactly how I treat business. As long as I know I’m on the right mountain—which I firmly believe is multifamily—I come in here every day and focus on putting one foot in front of the other.” Ivan Barratt is the founder and CEO of Barratt Asset Management, a real estate investment and management company out of Indianapolis that specializes in the acquisition, redevelopment and management of multifamily apartment communities. Since forming the firm in 2010, Ivan has raised tens of millions in equity, acquired 2,700 units, and grown BAM to a best-in-class management company, boasting $100M in assets under management. Ivan joins me to explain how he started small with a duplex and 6-unit property, financing deals with hard money loans. He discusses his gradual transition to larger deals, describing his approach to raising capital by building trust with potential investors in the business and medical communities. Ivan shares his ‘mortal sins of multifamily’ as well as the game changers that have allowed him to scale up to 2,700 units. Listen in for Ivan’s advice around doing little things every day to prepare for your career as a multifamily investor! Key TakeawaysHow Ivan got his start with a duplex
What Ivan would do differently given the opportunity
How Ivan got started with hard money loans
Ivan’s early 6-unit deal
How Ivan transitioned from hard money to raising capital
Ivan’s approach to building relationships with investors
Ivan’s ‘mortal sins’ of multifamily
Ivan’s AHA moment after the crash
The game changers that have allowed Ivan to scale
Ivan’s advice for aspiring multifamily investors
Why Ivan continues to grow and scale his business
Ivan’s perfect day on Gulf Shores
Connect with IvanCall (317) 762-2625 ResourcesRich Dad Poor Dad: What the Rich Teach Their Kids About Money—That the Poor and Middle Class Do Not! by Robert T. Kiyosaki Michael’s Syndicated Deal Analyzer Michael’s Deal Maker Mastermind Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_112-_Scaling_Up_from_a_Duplex_to_2700_Multifamily_Units__With_Ivan_Barratt.mp3
Category:Commercial Real Estate -- posted at: 3:56pm EDT |
Thu, 31 May 2018
Before Tim Hubbard purchased and renovated his small multifamily property in Memphis, Tennessee, the long-term rents ranged from $350/month for the studios to $700/month for the two-bedroom unit. After the renovations, complete with furnishings and Airbnb-ready locks and amenities, Tim began earning revenue of $2,500/month—PER UNIT! How did he do it? What made this particular property perfect for the short-term rental market? Is the Airbnb model right for you? Tim Hubbard began his career in the hospitality industry before making the transition to real estate. He is passionate about travel, and the Airbnb model allows Tim to visit dozens of countries around the world—while providing the opportunity for others to do the same. Tim serves as the Director of Operations for Midtown Stays, a vacation rental company with properties in both Memphis and Sacramento, California. Tim sits down with me to explain how he got involved in the worlds of real estate and Airbnb. He describes his experience purchasing and renovating an 8-unit in Memphis for short-term rental, discussing how much he invested in the property, what it took to make the apartments Airbnb-ready, and how he financed the deal through a local bank. Listen in for Tim’s insight around managing Airbnb properties remotely and learn what factors to consider in choosing vacation rental property! Key TakeawaysTim’s experience with Airbnb
Tim’s background in real estate
Tim’s 8-unit property in Memphis
How Tim financed the venture
Tim’s backup plan should new regulations restrict Airbnb
The extent of the renovations on Tim’s property
How much Tim invested in the property
The revenue from rent before and after
How Tim made the units Airbnb-ready
How Tim manages the units
How Tim can market the units on multiple sites
What’s next for Tim
Tim’s insight around considerations for short-term rentals
Connect with TimEmail tim@midtownstays.com ResourcesTim’s Before & After Photos Nav Athwal on Apartment Building Investing Rich Dad Poor Dad: What the Rich Teach Their Kids About Money—That the Poor and Middle Class Do Not! by Robert T. Kiyosaki Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_111-_AirBnB_for_Apartments-Tim_Hubbard.mp3
Category:Commercial Real Estate -- posted at: 8:07pm EDT |
Fri, 25 May 2018
No one wants to lose their shirt—or anything else for that matter—in multifamily investing. But it’s easy for inexperienced syndicators develop an emotional bias and conflate the numbers in order to make a deal look good to potential investors. And passive investors new to the game typically focus on returns, when their first question ought to be about the risks involved. Conservative underwriting is the key to risk management for syndicators and investors alike… But how do you ensure that the numbers are reasonable? What questions should investors be asking? And how can you tell when a syndicator is too aggressive? Omar Khan is a Chartered Financial Analyst with Boardwalk Wealth, a private equity firm based in Dallas, Texas, that connects international investors with multifamily opportunities in the southern US. Omar is responsible for raising capital, strategic planning, the development of underwriting models, and investor relations. He has 10-plus years of global investment experience, and Omar has participated in capital financing and M&A transactions valued at $3.7B. Omar joins me to explain how to identify aggressive underwriting and ensure the accuracy of the numbers used in a particular model. We cover conservative guidelines for reserves and loan terms as well as the importance of planning for worst-case scenarios. Listen in for Omar’s insight around what to look for in a syndicator, how to leverage a sensitivity analysis, and the exit strategy questions an investor should ask—and a syndicator should be prepared to answer! Key TakeawaysOmar’s background in finance
How to identify aggressive underwriting numbers
How to ensure accuracy of numbers used in model
What Omar looks for in the cap rate at exit
The internal systems questions passive investors should be asking
The qualities Omar is looking for in a syndicator
Omar’s insight around communicating with investors
Omar’s advice around conservative loan terms
Omar’s approach to bridge loans
The most conservative underwriting guidelines for reserves
The importance of planning for worst-case scenarios
How the passive investor can leverage a sensitivity analysis
Omar’s advice on the exit strategy questions to ask syndicators
Connect with OmarEmail omar@boardwalkweath.com Call (214) 727-8643 ResourcesFree eBook: The Secret to Raising Money to Buy Your First Apartment Building
Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_110-_Conservative_Underwriting__Risk-Management_in_Multifamily_Investing__With_Omar_Khan.mp3
Category:Commercial Real Estate -- posted at: 4:10pm EDT |
Fri, 18 May 2018
‘It is in your moments of decision that your destiny is shaped.’ --Tony Robbins In my experience, once you truly decide to pursue multifamily investing, it will take 3 to 18 months to do your first deal. In 3 to 5 years, you will have replaced your income and quit your job. And the entire process is set in motion via the Law of the First Deal. Today, I’m unpacking the powerful Law of the First Deal. I start with its basic principles, offering case studies of podcast guests who were able to replace their income within 3 years and quit their jobs via multifamily investing. I explain why the Law of the First Deal works, describing how investors become deal (and money!) magnets soon after their first closing. Finally, I walk you through the steps necessary to develop a concrete plan, calculating how long it will take to quit your job—based on your individual Rat Race Number. Listen in for insight on how to leverage the Law of the First Deal to replace your income with multifamily! Key TakeawaysThe principles of the Law of the First Deal
Case studies of the Law of the First Deal
Why the Law of the First Deal works
How long it takes to quit your job
The typical Law of the First Deal timeline
The value of establishing a concrete plan
ResourcesFree eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_109-_The_Law_of_the__First_Deal_-_with_Michael_Blank.mp3
Category:Commercial Real Estate -- posted at: 2:02pm EDT |
Fri, 11 May 2018
Would you be willing to make 4,500 agonizing phone calls to land your first property? How about going to the trouble of analyzing 100 deals to find one good one? It goes without saying that we have unparalleled opportunities here in the US, but success is unlikely to fall into your lap. So, if you are looking to become a successful multifamily investor, you have to START: Learn to analyze deals properly and get one done. Andrew Cushman is the principal of Vantage Point Acquisitions, a multifamily investment firm out of Southern California. Andrew has a BS in Chemical Engineering from Texas A&M University, and he worked for a Cargill Foods for seven years before leaving the corporate world for real estate investment. He completed 24 profitable single family flips before making the transition to apartment building acquisitions in 2010. Since then, Andrew has successfully syndicated 1,800 units that continue to provide investors with strong returns. Today, Andrew joins me to share his story, explaining how an article in the Wall Street Journal inspired his real estate career and why he made the transition from pre-foreclosure flips to multifamily. He walks us through his first deal, a 92-unit property in Macon, Georgia, discussing his mistakes around failing to vet investors and underestimating renovation costs. Andrew offers advice for aspiring investors on beginning with the end in mind, building a network of investors, and partnering for instant legitimacy. Listen in for Andrew’s insight into the benefits of B properties and learn why finding a good deal in the current climate is challenging—but not impossible! Key TakeawaysHow Andrew got into real estate
Andrew’s shift to multifamily
Andrew’s first multifamily deal
How Andrew financed his first deal
What Andrew learned from his first deal
Andrew’s advice around doing your first deal
Andrew’s take on the challenge of finding a great deal
Andrew’s insight for aspiring investors who lack capital
The value in partnering
Andrew’s advice to his 22-year-old self
Andrew’s perfect day
What Andrew is looking forward to
Connect with AndrewResourcesRich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki Michael’s Ultimate Guide to Apartment Building Investing Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_108-_Analyzing_100_Multifamily_Deals_to_Find_the_ONE__With_Andrew_Cushman.mp3
Category:Commercial Real Estate -- posted at: 5:07pm EDT |
Thu, 3 May 2018
At the heart of every successful entrepreneur is a deep sense of spirituality. There is strength in developing a relationship with the higher power, and you must get your ‘being’ right before you can do something truly meaningful. I recently saw Robert Kiyosaki speak on The Real Estate Guys cruise, and his talk reminded me of the connection between my success as an entrepreneur and my faith. Today, I’m sharing the three spiritual lessons that changed my life and brought me to the work I do now, teaching others to raise money and achieve financial freedom through apartment building investing. I start by sharing my early success with the software startup webMETHODS, explaining how that experience created the illusion that I was in control of my own destiny. Then I describe the challenges I have faced as an entrepreneur and the three lessons I learned around giving up control, finding peace regardless of the circumstances, and shifting to a mindset of giving. Listen in for insight on the relationship between success and spirituality and learn to step out in faith—and realize an incredibly fulfilling life! Key TakeawaysThe concept of Be Do Have
My early success in tech
Spiritual Lesson #1: You are not in control
Spiritual Lesson #2: Find peace regardless of the circumstances
Spiritual Lesson #3: Shift to a mindset of giving
The relationship between success and spirituality
ResourcesRich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki Damion Lupo on Apartment Building Investing The Untethered Soul: The Journey Beyond Yourself by Michael A. Singer Uganda Counseling and Support Services Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_107_-_The_3_Spiritual_Lessons_That_Changed_My_Life_-_With_Michael_Blank.mp3
Category:Commercial Real Estate -- posted at: 4:18pm EDT |
Tue, 24 April 2018
Mario Ortiz’s first multifamily deal wasn’t a homerun. Would he do things differently, knowing what he knows now? Maybe wait for a better deal to come along? Mario says no, arguing that ‘getting in the game’ is more important than the size or quality of the first deal. In fact, he lives by the adage that the ‘opportunity of a lifetime’ comes about once a month. The thing is, you have to be looking for it. Mario is a mechanical engineer from El Paso, Texas. He has managed to build a thriving real estate business while working full-time in the oil industry—without employing syndication. A self-made, resourceful entrepreneur, Mario finds a creative way to finance each new multifamily property, and he made a cool $4M on the refi of his most recent investment! Mario sits down with me to explain how the unpredictable nature of the oil and gas industry inspired him to pursue real estate. He shares his initial plan to invest in single-family properties and the overwhelm he experienced self-managing 10 homes on top of his full-time job. Mario walks us through his first multifamily deal, describing his luck in establishing rapport with a local bank and what he learned by self-managing the 17-unit property. He discusses the creative ways he financed his second and third multifamily deals, a 90-unit in Houston and a 180-unit in Fort Worth. Listen in for Mario’s insight around ‘getting in the game’ and learn how the refinance of his 180-unit is allowing him to quit his engineering job and travel with his family Key TakeawaysMario’s background
Mario’s initial real estate plan
Why Mario’s plan changed
Mario’s first multifamily deal
Why Mario chose to self-manage
Mario’s second multifamily deal
Mario’s third multifamily deal
How Mario made the 180-unit profitable
The refinance of Mario’s 180-unit property
Mario’s plan moving forward
Mario’s plans to leave his full-time job
Mario’s parting advice
Connect with MarioEmail mortiz9991@yahoo.com ResourcesFree eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_106_-_Getting_in_the_Multifamily_Game_With_or_Without_Syndication__With_Mario_Ortiz.mp3
Category:Commercial Real Estate -- posted at: 12:33pm EDT |
Wed, 11 April 2018
What’s differentiates a successful multifamily real estate investor from someone who dreams of financial freedom but doesn’t take action? Todd Fox contends that a willingness to fail is what sets him apart and that his failures have helped him learn, grow and gain the confidence to go out and create the next big opportunity. Todd is the CEO of Visum Development Group. In the last 15 years, Todd has developed $35M in projects in the Ithaca metro area, and he oversees all aspects of the firm’s projects from concept formation to long-term stabilization. Visum specializes in new construction and the redevelopment of residential properties, working to maximize returns while mitigating risk for investors. The company offers a range of luxury student housing, residential and commercial investments, and they are currently working on a 207-bedroom student housing project for Cornell University worth $37M. Todd joins me share his journey from bankruptcy to successful developer, discussing how that dark time inspired him to pursue real estate full-time. He explains how he got his start with duplexes, purchasing his first property at auction and doing an incredible amount of legwork to find the second property—three years later. Todd describes his original intention to scale up to ten duplexes and how his dreams got bigger as he gained confidence and secured a network of investors. Listen in for Todd’s insight on following your heart, learning from failure, and setting small goals to build momentum. Key TakeawaysTodd’s path to real estate development
What inspired Todd to pursue real estate full-time
Todd’s painful experience with bankruptcy
How Todd overcame the inability to secure a bank loan
How Todd found his next deal
Todd’s decision to scale beyond ten duplexes
The organic way Todd built a network of investors
Todd’s approach to raising money
Todd’s advice for aspiring real estate investors
Todd’s insight on what sets successful entrepreneurs apart
Connect with ToddResourcesFree eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_105_-_How_a_Willingness_to_Fail_Breeds_Multifamily_Success__With_Todd_Fox.mp3
Category:Commercial Real Estate -- posted at: 11:52am EDT |
Wed, 11 April 2018
The two biggest issues multifamily owners face are turnover and resident satisfaction. If a property is not at full occupancy, your bottom line takes a significant hit. How can you address both of these issues and create a community in your apartments that makes residents want to stay, even if the rents go up? Pete Kelly is the CEO of Apartment Life, a faith-based nonprofit motivated by a commitment to building relationships and community. Apartment Life serves the multifamily industry, redefining the resident experience in order to increase retention, improve tenant satisfaction, and enhance the community’s online reputation. Pete sits down with me to share his background in the nonprofit world, explaining the basics of Apartment Life as an organization. He discusses the research around loneliness and public health, customer engagement and brand loyalty, and the economic impact of the CARES Program. Pete offers the specifics of what the CARES and Workforce Housing teams do to engage residents and how the faith-based roots of the organization impact their mission. Listen in for Pete’s insight on building a community that is good for the human soul AND the bottom line. Key TakeawaysPete’s background in the nonprofit world
The fundamentals of Apartment Life
The research around loneliness and public health
The business research around connection and engagement
How friendships affect a resident’s willingness to stay
The financial benefits of the CARES Program
What the Apartment Life teams do
The cost of the CARES Program for owners
The alternative Workforce Housing Program
The faith-based element of Apartment Life
The mission of Apartment Life
Connect with PeteEmail petekelly@apartmentlife.org Resources‘Why Loneliness May Be the Next Big Public-Health Issue’ in Time ‘Loneliness and Social Isolation as Risk Factors for Mortality’ in Perspectives on Psychological Science ‘The New Science of Customer Emotions’ in Harvard Business Review CARES Program Financial Impact Analysis Low-Income Housing Tax Credit Guidelines Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_104_-_Building_Community_is_Good_for_the_Soul_AND_the_Bottom_Line__With_Pete_Kelly.mp3
Category:Commercial Real Estate -- posted at: 11:45am EDT |
Mon, 2 April 2018
When Mike Hambright first got into real estate investing ten years ago, he was hesitant to meet his competition. But Mike is an extrovert by nature, and after having coffee with a fellow investor, his perspective shifted. Now he advocates an abundance mentality, and Mike firmly believes that meaningful conversations with high-level players can take your game to the next level. So how do you build a network of investors you respect who can help you learn and grow? Mike is the Chief Nerd at FlipNerd, a leading resource and social platform for real estate investors with more than 100K subscribers and 1500-plus video shows published to date. He is also the Owner and President of Evolution Properties, a multimillion-dollar firm focused on residential real estate in the Dallas market. Mike has an abundance mentality and a knack for networking, serving as a mentor to aspiring investors and founding the Investor Fuel mastermind. Mike joins me to discuss his shift from the corporate world to full-time real estate investing, explaining how his wife inspired him to quit dabbling and go all-in in the summer of 2008. He shares his pursuits beyond investing, including his talent for connecting people through the FlipNerd platform. Mike gets granular on the value of a thriving network, describing the opportunities to do deals together and how connections can take your game to the next level. Listen in for Mike’s advice around expanding your real estate network and building meaningful relationships to accelerate your success. Key TakeawaysMike’s shift from corporate to real estate
Mike’s ‘go big or go home’ mentality
How Mike has expanded beyond investing
The benefits of the FlipNerd platform
The value of a thriving network
Mike’s insight on masterminds
How to expand your network
What Mike is looking forward to
Connect with MikeResourcesFree eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_103_-_Accelerate_Your_Real_Estate_Success_with_a_High-Level_Network__With_Mike_Hambright.mp3
Category:Commercial Real Estate -- posted at: 12:50pm EDT |
Mon, 2 April 2018
Ben Risser had a bad case of entrepreneurial ADD. He knew that the corporate environment was not a good fit for his personality, and he knew that real estate was the route he wanted to take. But Ben couldn’t get focused on a single strategy. He looked into several different single-family alternatives and even pursued lease options for awhile, but he couldn’t seem to stick with one strategy long enough to see it through… And then he landed on multifamily. Ben enrolled in the Ultimate Guide to Buying Apartment Buildings with Private Money course and started networking at local REIA meetings. Through a random series of events, he ran into his partner, Matt Faircloth, and started underwriting deals. Matt’s broker connections led the team to a 198-unit deal in Fayetteville, NC—a D property in a B neighborhood with big value-add potential. It took six months and lot of legwork, but Ben and Matt closed in January of 2018, and they are actively pursuing other multifamily opportunities in the southeast US. Ben sits down with me to explain how he came to realize that he is an entrepreneur at heart, despite his background as an aerospace engineer. He discusses his lack of focus early on and how he finally made the commitment to multifamily. Ben shares the story of his unintentional leap into full-time investing and the value of his wife’s support in pursuing the real estate business. Listen in for Ben’s insight around perseverance, focus, and finding a partner with a complementary skill set. Key TakeawaysBen’s introduction to real estate
Ben’s initial real estate strategy
Ben’s shift to multifamily
How Ben found his partner
Ben and Matt’s partnership
Ben’s first multifamily deal
Why it took 12 months to close on the property
The complications Ben encountered in his first deal
How Ben and Matt raised money for the deal
Ben’s transition to full-time syndicator
What’s next for Ben and his partner
Ben’s advice for aspiring real estate investors
Connect with BenEmail b.risser@providencecapital.org ResourcesRich Dad Poor Dad by Robert Kiyosaki Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_102_-_Curing_Entrepreneurial_ADD_with_a_Focus_on_Multifamily__With_Ben_Risser.mp3
Category:Commercial Real Estate -- posted at: 12:41pm EDT |
Tue, 27 March 2018
Would you like to save ten years or so and get right to the financial freedom part of real estate investing? Corey Peterson is finally living what he calls the ‘Sunsets and Palm Trees’ lifestyle, but his path was not an easy one. Like many a real estate investor before him, Corey got into the fix and flip business, and while he looked successful on the outside, he was a wreck on the inside. Running rehabs was running him ragged, and he was spending his Saturdays with contractors—instead of his family. Corey knew he had to do something differently, and that’s when he made the transition from single- to multifamily real estate. Today, Corey is the owner of Kahuna Investments, a multifamily firm that provides its investors with stable cashflow and long-term capital appreciation. Since 2011, Corey has been involved in the ownership and management of commercial properties worth a total of $31M, and he is a sought-after speaker in the multifamily investing space. Corey is the also the host of the Multi-Family Legacy Podcast, and he has been featured on FOX, CBS, ABC and NBC affiliates. Corey joins me to share his story, explaining how ‘Bruce Wayne’ introduced him to real estate and how being fired from his job as a financial advisor inspired his commitment to full-time investing. He walks us through the ‘hustle and grind’ of his years in the fix and flip business, describing the Saturday he missed his son’s game and how that feeling of failure motivated Corey’s transition to multifamily. He addresses how he developed a talent for raising private money and how that translated to a partnership and his first multifamily deal. Listen in for Corey’s advice around skipping the single-family step and shaving ten years off your journey to financial freedom! Key TakeawaysCorey’s introduction to real estate
Why Corey got caught in the fix and flip trap
How Corey made the commitment to full-time real estate
Corey’s shift to multifamily
Corey’s first multifamily deal in 2011
Why Corey encourages investors to do multifamily
Corey’s advice for aspiring real estate investors
Corey’s tips around raising money
Corey’s insight on mentoring and partnerships
What Corey’s excited about
Connect with CoreyThe Multi-Family Legacy Podcast ResourcesRich Dad Poor Dad by Robert Kiyosaki Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_101_-_Living_the_Sunsets_and_Palm_Trees_Lifestyle_with_Multifamily__With_Corey_Peterson.mp3
Category:Commercial Real Estate -- posted at: 5:48pm EDT |
Thu, 15 March 2018
If you take the time to sit down and get clear on the direction of your life, you may find that growing a business for yourself and your family will afford you the flexibility and time to pursue hobbies, to travel, to spend time with the people you love—and build wealth in the process. More often than not, time invested in reflection is what ultimately inspires action among aspiring multifamily investors. Scott Price and his wife Karen run Bonvolo Real Estate Investments. They have been investors since 2003, owning and managing multifamily, office, retail and land properties across multiple markets in Washington state. From 2003 through 2007, Scott worked as a broker and earned Seattle Magazine’s Best in Client Satisfaction Award three times before returning to his career in project management. He has steadily grown his real estate portfolio while working full-time at Microsoft, but now he is quitting his W-2 job to focus on Bonvolo full time! Scott sits down with me to share the experience that distracted him from pursing real estate after college and how the desire for flexibility ultimately brought him back. He explains why he went straight to multifamily as an investment strategy, how he was able to overcome his inexperience, and the business plan for his first 29-unit property. Listen in as Scott reflects on how a lack of awareness about syndication led to slow growth and addresses his plans to give back to the community now that he does real estate full time. Key TakeawaysScott’s introduction to real estate
When Scott first took action in real estate
Why Scott returned to real estate
Scott’s initial real estate strategy
Why Scott went straight to multifamily
The initial challenges Scott faced in multifamily
How Scott overcame his inexperience
Scott’s first 29-unit deal
Scott’s business plan for creating value
What’s next for Scott
Scott’s advice for his younger self
Why Scott was too conservative early on
Scott’s challenges around syndication
Scott’s guidance for aspiring investors
What Scott is looking forward to
Connect with ScottBonvolo Real Estate Investments Email scott@bonvolo.com ResourcesThe Miracle Morning by Hal Elrod Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_100_-_Reflection_Inspires_Action_in_Multifamily_Investing__With_Scott_Price_-_mp3.mp3
Category:Commercial Real Estate -- posted at: 6:47pm EDT |
Mon, 12 March 2018
We’ve been conditioned to believe that a steady paycheck is a safety net. That if we pay our dues, the company we have been loyal to will return the favor, and we will ultimately be rewarded with a hefty 401(k). But Clayton Morris contends that the opposite is true: As long as you for someone else (no matter how prestigious your job may be) consider yourself a line item on a spreadsheet with zero control of your own destiny—who could lose your livelihood at any time, through no fault of your own. Clayton left a lucrative position as the weekend anchor for Fox & Friends to become the Founder and President of Morris Invest, a firm dedicated to helping people build financial freedom through real estate, and the host of the Investing in Real Estate Podcast. No matter how prominent his work in broadcasting, Clayton knew that his life wasn’t truly his own. He used real estate as the vehicle to gain financial freedom, and now he is on a mission to share his secret sauce with aspiring investors. Clayton joins me to explain why he left a successful broadcasting career to pursue real estate full time. He shares how a flight to New Zealand inspired him to start a single-family portfolio and what motivated him to get serious about leveraging real estate to replace his income. Clayton addresses the significance of a strong WHY and the limiting beliefs that held him back early on. Listen in for Clayton’s advice around taking massive action and gaining clarity through whitespace. Key TakeawaysWhy Clayton left broadcasting for real estate
How Clayton decided on real estate
Clayton’s initial investment strategy
When Clayton got serious about real estate
Clayton’s last day of work
Why Clayton is making the shift to multifamily
What held Clayton back
The myth that a steady paycheck is a safety net
Clayton’s advice around taking action
What Clayton is looking forward to
Connect with ClaytonResourcesJeff Goins Mitigated Risk Article Michael on Investing in Real Estate Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_099_-_Control_Your_Own_Destiny_Through_Real_Estate_Investing__With_Clayton_Morris.mp3
Category:general -- posted at: 1:02pm EDT |
Tue, 6 March 2018
As multifamily investors, it is easy to get caught up in making as much money as possible. Problem is, we sometimes forget that real people live in those apartment buildings. And regardless of their socioeconomic level, our tenants deserve to be treated with dignity and respect. Eddie Lorin is a multifamily real estate investor with 20 years of value-add experience and 40K units under his belt. Eddie’s company, Impact Housing, is on a mission to breathe new life into neglected multifamily properties, generating positive returns for investors and improving the quality of life for residents and surrounding communities. Eddie sits down with me today to share his vision for Impact Housing and the critical need for clean, affordable housing for the working class. He explains the concept of impact investing, discussing how he takes care of people ‘where they live’ by way of Class A amenities and on-site programming. Eddie speaks to his expectations for third-party property managers, describing the art and science of building a community. Listen in as Eddie offers the business argument for his model and learn how to do well by doing good. Key TakeawaysEddie’s vision for Impact Housing
The concept of impact investing
What’s different about Impact Housing
How Eddie takes care of his residents
What Eddie requires of third-party property managers
The business argument for Eddie’s model
What Eddie’s looking forward to
Connect with EddieEmail info@impacthousing.com ResourcesFree eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_098_-_Do_Well_By_Doing_Good_-_With_Eddie_Lorin.mp3
Category:Commercial Real Estate -- posted at: 7:07pm EDT |
Tue, 6 March 2018
‘The guy or the gal that wants to quit their job and doesn’t is quitting themselves.’ What is the secret sauce that makes a person successful? Michael Quarles says that it’s not about hoping, wanting or even needing to reach your goals. You have to REQUIRE yourself to take action every day in order to achieve. And even that’s not enough if you don’t have self-respect. Michael is a serial entrepreneur and accomplished real estate broker and investor who purchased his first property at the tender age of 18. He has completed thousands of real estate deals, and Michael has vast experience with fix and flips, assignments, and wholesale deals. In addition, he designed a systematized business model that his team uses to purchase houses across the country through 1800Sell4Cash. Michael also developed Yellow Letters, the largest marketing company for real estate investors, as well as the Alex & Ryan Call Center, a service that turns marketing responses into deals. Today, Michael joins me to discuss his high-level strategy for lead generation. He explains the value of cluster marketing, his strategies for converting leads over the phone, and the process of locating leads without the help of a broker. Michael walks us through his criteria for choosing a market and how he handles due diligence without the luxury of seeing a property in person. Listen in for Michael’s insight on why self-respect is the key to success and his ‘taste the caviar’ challenge for aspiring investors. Key TakeawaysMichael’s high-level strategy for lead generation
The value of cluster marketing
Michael’s techniques for converting leads on the phone
Michael’s take on the art of negotiation
Michael’s best suggestions for lead sources
Michael’s criteria for choosing a market
Michael’s call center personas
How Michael does due diligence without seeing a property
Michael’s insight on what it takes to be successful
Michael’s ‘taste the caviar’ challenge
The value in surrounding yourself with the right people
Connect with MichaelEmail michael@michaelquarles.com ResourcesFree eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_097_-_Lead_Generation_in_Real_Estate_-_Michael_Quarles.mp3
Category:Commercial Real Estate -- posted at: 5:03pm EDT |
Tue, 6 March 2018
‘The guy or the gal that wants to quit their job and doesn’t is quitting themselves.’ What is the secret sauce that makes a person successful? Michael Quarles says that it’s not about hoping, wanting or even needing to reach your goals. You have to REQUIRE yourself to take action every day in order to achieve. And even that’s not enough if you don’t have self-respect. Michael is a serial entrepreneur and accomplished real estate broker and investor who purchased his first property at the tender age of 18. He has completed thousands of real estate deals, and Michael has vast experience with fix and flips, assignments, and wholesale deals. In addition, he designed a systematized business model that his team uses to purchase houses across the country through 1800Sell4Cash. Michael also developed Yellow Letters, the largest marketing company for real estate investors, as well as the Alex & Ryan Call Center, a service that turns marketing responses into deals. Today, Michael joins me to discuss his high-level strategy for lead generation. He explains the value of cluster marketing, his strategies for converting leads over the phone, and the process of locating leads without the help of a broker. Michael walks us through his criteria for choosing a market and how he handles due diligence without the luxury of seeing a property in person. Listen in for Michael’s insight on why self-respect is the key to success and his ‘taste the caviar’ challenge for aspiring investors. Key TakeawaysMichael’s high-level strategy for lead generation
The value of cluster marketing
Michael’s techniques for converting leads on the phone
Michael’s take on the art of negotiation
Michael’s best suggestions for lead sources
Michael’s criteria for choosing a market
Michael’s call center personas
How Michael does due diligence without seeing a property
Michael’s insight on what it takes to be successful
Michael’s ‘taste the caviar’ challenge
The value in surrounding yourself with the right people
Connect with MichaelEmail michael@michaelquarles.com ResourcesFree eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_097_-_Lead_Generation_in_Real_Estate_-_Michael_Quarles.mp3
Category:Commercial Real Estate -- posted at: 5:03pm EDT |
Thu, 22 February 2018
With 3,600 members, Neal Bawa’s multifamily meetup is the largest in the US. Would you believe that when he started the group, Neal had zero multifamily experience? Neal’s background is in technology education. He spent 15 years running a traditional company—and paying massive taxes—when his boss turned him on to the tax benefits of multifamily. Neal invested in a handful of single family homes, triplexes and fourplexes to learn the game, and he was ready to take the next step when he learned about a 12-plex deal that he couldn’t afford on his own. By then, Neal had established his multifamily meetup, where he was candid about the fact that he didn’t have experience. Rather, he shared what he DID know—his research and knowledge of the numbers. And on the night that Neal shared the story of the 12-plex deal, he discovered that he had a knack for raising money as well. Today, Neal and his partner have 1,000 units, with plans to hit 1,700 by the end of the year. Neal joins me to discuss how he was able to position himself as a leader despite a lack of track record and why his ability to tell the story of a project led to success with raising money. He talks numbers, sharing the importance of understanding the economics of an area before you invest and his take on the top two markets for 2018. Listen in for Neal’s insight around stock market corrections, partnering with experts and diversifying your real estate portfolio. Key TakeawaysNeal’s transition from single- to multifamily
Why Neal established a multifamily meetup without a track record
How Neal’s meetup group supported his growth
Neal’s advice around avoiding the mistakes he made early on
How demographics can impact returns
Neal’s top market picks with growth and value potential
Why multifamily investors should adjust their expectations
Neal’s take on whether it’s a good time to get into multifamily
Neal’s insight on market corrections
How multifamily performed in the last recession
What’s next for Neal
Connect with NealEmail neal@finatt.com ResourcesFree eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_096_-_Multifamily_Investment_Outlook_for_2018_and_Beyond_-_with_Neal_Bawa.mp3
Category:Commercial Real Estate -- posted at: 2:09pm EDT |
Tue, 13 February 2018
Wouldn’t it be great if your first multifamily deal just fell into your lap? If someone would just walk into your office and offer you an 18-unit property? If a bank would provide you with 100% financing and 100% renovation? Sounds great, right? But the problem with things being too easy is that you don’t learn. Just ask Nathan Tabor. He got lucky on his first multifamily deal—and that led to a lot of misery, stress, and unanticipated setbacks with his second and third investments. Nathan is an entrepreneur, business consultant, executive coach and speaker. In the last 18 years, he has successfully founded and operated dozens of businesses, grossing over $150M in sales. His experience spans the areas of real estate, auto sales, web-based marketing and direct product sales. Nathan has been a featured guest on Fox News, Laura Ingraham and C-Span, among others, and his parent company was ranked as one of the fastest-growing small businesses in the US by Inc. magazine in 2012, 2013 and 2014. Nathan has done 26 multifamily deals in the last 11 years, and his current portfolio includes three apartment buildings with a total of 168 units. Today he joins me to share his story, discussing how that easy first deal led to big mistakes with his second and third investments. Nathan walks us through the lessons he learned around financials and zoning and explains why aspiring investors should focus on the first deal. Listen in to understand how his multifamily strategy has changed over time, and get Nathan’s insight on serving others first to achieve lasting happiness. Key TakeawaysNathan’s stress-free first deal
Nathan’s disaster of a second deal
Nathan’s multifamily strategy
Nathan’s third multifamily deal
The lessons Nathan learned from his mistakes
How Nathan’s multifamily strategy changed over time
Why multifamily appeals to Nathan
Nathan’s advice for aspiring multifamily investors
Nathan’s insight on work-life balance
Connect with NathanResourcesFree eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_095_-_What_Doesnt_Kill_You_Makes_You_a_Better_Multifamily_Investor__With_Nathan_Tabor.mp3
Category:Commercial Real Estate -- posted at: 4:19pm EDT |
Wed, 7 February 2018
Andrew Campbell was 27-years-old, working a good corporate job when he got the call that his father had suffered a massive brain hemorrhage. So he moved back home to Austin and reconsidered what he wanted out of life. Flexibility and freedom became priorities for Andrew, and when an experienced friend invited him to partner up on the purchase of a duplex, he agreed. Very quickly, Andrew was ‘addicted to real estate,’ and he began to envision a long-term plan that would allow him to quit his job and pursue real estate full-time. Now Andrew is a managing partner with Wildhorn Capital, a real estate investment firm focused on multifamily properties in major Texas markets. Today he joins me to share how he made the transition from duplexes and fourplexes to his first multifamily deal, a 192-unit building in San Antonio. Andrew walks us through his first experience with raising money, explaining how being a real estate junkie helped him build a network organically. Listen in for Andrew’s insight on redefining success, taking risks, and leveraging an addiction to real estate to live the life YOU design. Key TakeawaysHow Andrew got into real estate
Andrew’s initial investment strategy
Why Andrew limited himself to four units or less
Why Andrew transitioned to multifamily
Andrew’s first experience with raising money
Andrew’s first multifamily deal
What inspired Andrew to ‘go big’ on his first multifamily deal
How Andrew was able to raise $6.5M
Why Andrew chose to work with a partner
What’s next for Wildhorn Capital
How Andrew’s life is different as a full-time investor
Andrew’s advice to aspiring multifamily investors
Connect with AndrewEmail andrew@wildhorncap.com ResourcesThe Millionaire Real Estate Investor by Gary Keller, Dave Jenks and Jay Papasan Rich Dad Poor Dad by Robert T. Kiyosaki Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_094_-_Life_by_Design_with_Andrew_Campbell.mp3
Category:Commercial Real Estate -- posted at: 3:10pm EDT |
Sat, 3 February 2018
You’ve been served. Those are scary words for a real estate investor, but the truth is that you are likely to face a lawsuit at some point in your career—take it from me. So how do you keep your assets safe and protect yourself from frivolous litigation? Scott Smith is an attorney as well as a real estate investor. His firm, Royal Legal Solutions, provides business, tax and legal solutions geared exclusively for real estate investors. Scott has eight years of experience deconstructing the industry, and asset protection is his specialty. Today Scott covers the statistics around lawsuits in the real estate investing space, explaining his ‘if, not when’ approach to protecting yourself as a real estate investor. He shares case studies of investors who were not protected and walks us through the benefits of hiding and isolating your assets. Scott offers his best strategies, including separating operations from ownership, removing equity from your properties, and doing your due diligence—every single time. Listen in and learn how to leverage a series LLC structure in combination with a land trust to remain anonymous and compartmentalize your assets, making you less susceptible to litigation. Key TakeawaysThe focus of Royal Legal Solutions
The likelihood you will be sued as a real estate investor
The potential outcomes of a lawsuit
Scott’s strategies for protecting real estate investors
The level of effort required to open and maintain multiple LLCs
Scott’s best advice for real estate investors
Scott’s call-to-action for protecting your assets
Connect with ScottEmail scott@royallegalsolutions.com Call 512-757-3994 10 Ways to Protect Your Real Estate Investments ResourcesFree eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_093_-_Top_10_Ways_to_Protect_Your_Real_Estate_Investments_-_With_Scott_Smith.mp3
Category:Commercial Real Estate -- posted at: 1:03pm EDT |
Tue, 23 January 2018
Todd Dexheimer always wanted to be a multifamily investor, but he got distracted by single-family rentals and fix and flips. When he stopped to take a hard look at his portfolio, Todd realized that when it came to return on investment, the rentals were destroying the flips. Worse yet, he was still in a holding pattern—waiting to ‘graduate’ to multifamily. What would his cashflow look like if he stopped wasting time and shifted his focus to apartment buildings? Todd began his career as a high school teacher, but the meager pay and lack of job satisfaction had him looking for other opportunities. In 2008, he and his wife used their savings to purchase a rental property as well as a live-in flip, and before long he had a significant rental portfolio and 150 flips under his belt. But Todd never stopped dreaming about multifamily, and in 2016 he got back on track and purchased a 22-unit building in Cincinnati. Now he has a total of 106-units and the ambition to grow by another 800 units in 2018. Today Todd explains how fear, distraction, and a lack of resources held him back from pursuing his multifamily dreams. He shares the details of a 15-unit deal that didn’t go so well, yet taught him several valuable lessons and set him up for future success. Todd discusses how a hard look at his portfolio got him back on the multifamily track and offers an overview of his last two apartment investments. Listen in for Todd’s advice around being taken seriously in a new market and learning from other investors to go big quickly, rather than waiting to ‘graduate.’ Key TakeawaysThe Cliff’s Notes version of Todd’s story
The problem Todd was trying to solve with real estate
Todd’s initial investment strategy
Todd’s first multifamily deal
What Todd learned from his first multifamily deal
What inspired Todd to pursue multifamily again
Todd’s second multifamily deal
Todd’s approach to being taken seriously in a new market
Todd’s first syndication deal
The value of the first deal
Todd’s advice to his younger self
Todd’s insight for aspiring multifamily investors
How Todd’s life changed after he quit teaching
Connect with ToddEmail todd@venturedproperties.com ResourcesFree eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_092_-From_Teacher_to_Fulltime_Multifamily_Investor__with_Todd_Dexheimer.mp3
Category:general -- posted at: 1:01pm EDT |
Thu, 18 January 2018
‘Don’t worry about everything you don’t know today.’ Josh Sterling’s advice for aspiring real estate investors? Jump in head first and take massive action. In fact, if Josh could go back and offer some advice to his 17-year-old self, he would recommend skipping college and getting on the fast track to multifamily as soon as possible! But Josh didn’t know that then, and he pursued a degree in aeronautical science from Embry-Riddle University. He got a job as a commercial airline pilot and had worked his way up to captain when the recession hit, and his hard work was rewarded with a demotion and a pay cut. Josh decided then and there that he needed a side hustle that he could control, and he landed on real estate. Josh was eventually able to quit his job and pursue real estate full-time, growing his portfolio to a cool 250 units. Josh has also grown his business, building out his own property management team. Today he walks us through his first deals in the single-family space, discussing the challenges of managing 25 properties and how that struggle inspired his shift to multifamily. Josh offers his insight around building relationships with a few good brokers, describing how he has scaled to 250 units with the help of just two realtors. He explains his approach to multifamily syndication, sharing how multifamily allowed him to quit his job, go to work on his own terms, and have lunch with his 18-month old daughter any time he wants. Listen in for Josh’s advice about establishing credibility—with or without a track record—and getting on the fast track to multifamily. Key TakeawaysWhat inspired Josh to pursue real estate
Josh’s first deal in September 2009
Why Josh made the shift to multi-family
Josh’s first multifamily deal
Josh’s next multifamily deal
Josh’s approach to raising money
Josh’s first experience with syndication
How quitting his day job changed Josh’s life
What Josh would tell his 17-year-old self
How to fast track a career as a real estate investor
What Josh is excited about right now
Josh’s advice for aspiring real estate investors
Connect with JoshEmail: josh@epicpropertymanagement.com ResourcesFreddie Mac Small Balance Loan Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_091-The_Fast_Track_to_Multifamily__With_Josh_Sterling.mp3
Category:Commercial Real Estate -- posted at: 12:20pm EDT |
Thu, 11 January 2018
If 2018 is YOUR year, the year you plan to do your first multifamily deal and get on the road to retirement, then the next step is to determine the route you will take to get there. There are four different roles you can play in a general partnership: syndicator, passive investor, balance sheet guarantor, or money raiser. Today I’m getting into the nitty gritty of each of those four paths to financial freedom, exploring what’s important to each member of the team and how to get started. I begin with syndication, discussing the importance of analyzing deals, meeting with investors and building a team. If you want to be in the driver’s seat, then the role of the syndicator may be perfect for you. I go on to cover passive investing, outlining how to ask the right questions and find a partner you can trust. If you see yourself as more of a passenger on this road trip to retirement, then passive investing might be the part you play in a general partnership. Another lesser-known role is that of the balance sheet guarantor, who cosigns the loan for another syndicator. I explain the circumstances under which a balance sheet guarantor is necessary and the benefits of signing on to a deal in this way. The fourth role is that of the money raiser, and I wrap with the networking skills necessary to take on this role. Listen in and learn the significance of getting educated in the multifamily space, building a working relationship with trustworthy partners, and getting on the road to retirement with apartment building investing! Key TakeawaysWhat’s important to becoming a SYNDICATOR
How to get started as a SYNDICATOR
What’s important to becoming a PASSIVE INVESTOR
How to get started as a PASSIVE INVESTOR
What’s important to becoming a BALANCE SHEET GUARANTOR
Who are ideal MONEY RAISERS
What’s important to becoming a MONEY RAISER
How to get started as a MONEY RAISER
ResourcesUltimate Guide to Buying Apartment Buildings Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_090_-_3_Ways_To_Retire_With_Multifamily_-_Michael_Blank.mp3
Category:general -- posted at: 3:10pm EDT |
Financial Freedom with Real Estate Investing
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