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 |
Apartment Building Investing with Michael Blank Podcast
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