Mon, 28 December 2020
No question, the hospitality industry is among the hardest hit by COVID-19. And yet, Josh McCallen is thriving. The distressed Renault Winery Resort he bought in December 2018 is sold out for 2021, and revenues are up 200% from last year. So, why is Josh doing well while others are struggling? Are there opportunities for investors in the hospitality space right now? And what can we multifamily syndicators learn from Josh’s others-focused approach to business? Josh is the hospitality investment expert behind Accountable Equity, a firm specializing in resort value-add and turnaround projects, and VIVÂMEE Hospitality, the management company that operates those assets. In the past two decades, Josh has led over $100M in luxury residential and hospitality construction projects, growing the revenue of the resorts he manages by 10X in less than six years and increasing the appraised value of those properties by 70%. On this episode of Apartment Building Investing, Josh joins cohost Garrett Lynch and I to share his journey as an entrepreneur and discuss how helping flippers during the boom evolved into the work he does now. He explains how his company’s focus on resorts (not hotels) has helped them thrive despite the pandemic, describing how his team’s expertise in sales drives the kind of distressed assets they buy. Listen in for insight on the opportunities available to investors in the hospitality space right now and learn how a service-based, ministry model helps Josh serve both his guests and investors well. Key TakeawaysHow Josh got his start as an entrepreneur
When Josh got into real estate
What Josh does in real estate today
What differentiates VIVÂMEE as a management company
Why Josh is doing well despite the pandemic
What Josh looks for in a property
What makes Josh a good operator
How Josh’s others-focused model extends to his investors
How Josh structures a resort deal
Connect with Josh McCallenResourcesJoin the Nighthawk Equity Investor Club Learn More About Michael’s Mentoring Program |
Mon, 21 December 2020
As syndicators, we’d love to work with 1031 exchange investors more often. But the rules make it really, really difficult! It means taking on co-owners (rather than passive investors) and big bucks in legal fees. What if there was an EASIER way to work with 1031 exchange investors? A way that allows them to invest passively in syndication deals, defer their taxes and earn a stable return? Paul Moore is Managing Partner at Wellings Capital, a firm dedicated to helping high earners and high net worth individuals protect and grow their wealth through commercial real estate investing. A two-time Michigan Entrepreneur of the Year finalist, Paul has founded multiple investment and development companies and co-managed a successful multifamily development. He is the cohost of The Art of Investing and How to Lose Money and a regular contributor to both Fox Business and BiggerPockets. On this episode of Apartment Building Investing, Paul joins cohost Drew Whitson and I to discuss the disadvantages of the 1031 exchange and explain what makes the strategy incompatible with syndications. He introduces us to the Delaware Statutory Trust (or DST), describing how it solves the problems associated with bringing in 1031 exchange investors and allows them to invest passively in multifamily deals. Listen in for Paul’s insight on what kind of investor is attracted to the DST and learn how YOU can use it to defer taxes and earn a long-term, stable return! Key TakeawaysThe disadvantages of the 1031 exchange for investors
Why 1031 exchanges are incompatible with syndications
The fundamentals of the Delaware Statutory Trust
The benefits of investing in a DST
The disadvantages of investing in a DST
How Paul’s DST addresses the usual disadvantages
How Paul is compensated as the operator of the DST
What kind of investors are attracted to the DST
The limitations of the Delaware Statutory Trust
Connect with Paul MooreResourcesLearn More About Michael’s Mentoring Program |
Mon, 14 December 2020
Despite the chaos and uncertainty of 2020, we have a lot to be grateful for here at The Michael Blank organization. We have helped 113 people do 128 deals for a total value of $321M. And 22 of our mentees have quit their jobs, thanks to the financial freedom that comes with multifamily real estate investing. On this episode of Apartment Building Investing, I take the time to reflect on 2020, looking back on our key accomplishments in The Michael Blank organization and sharing our top lessons learned over the past 12 months. I discuss our theme for 2021 and explain what steps we’re taking to better serve our followers and turn them into raving fans. Listen in for insight on the multifamily market outlook for 2021 and learn how YOU can use our resources to achieve financial freedom and help us make a positive impact in the world! Key TakeawaysOur key accomplishments for 2020 in The Michael Blank organization
Our top 3 lessons learned in 2020
Our plans for 2021 in The Michael Blank organization
The disconnect between the headlines and our market experience
My predictions around the market outlook for 2021
How you can help us make a positive impact in the world
ResourcesJoin the Nighthawk Equity Investor Club Get Michael’s Ultimate Guide to Apartment Investing Learn More About Michael’s Mentoring Program Sponsor a Student with Uganda Counseling & Support Services Get Your Priorities Straight on Apartment Building Investing EP230 Pat Flynn on Apartment Building Investing EP210 |
Mon, 7 December 2020
Do you have what it takes to be an entrepreneur? If you’re in the early stages of building a multifamily syndication business, Gino Wickman wants to leverage his 30 years of experience to help you determine what kind of enterprise is right for you and accelerate your path to success. Gino is the creator of the Entrepreneurial Operating System, the practical method for helping businesses achieve greatness used by 100K companies worldwide. He is also the bestselling author of Traction: Get a Grip on Your Business and Rocket Fuel: The One Essential Combination That Will Get You More of What You Want from Your Business, among many other groundbreaking books on entrepreneurship. Today, Gino is devoting his time and energy to Entrepreneurial Leap, a new book and online platform designed to help entrepreneurs-in-the-making find clarity and create a customized roadmap for their startup. On this episode of Apartment Building Investing, Gino joins cohost Garrett Lynch and I to share the experience that inspired his work with entrepreneurs, explaining how he defines ‘true entrepreneurship’ and what characteristics successful business owners share. He walks us through the most common mistakes entrepreneurs make, offering advice on knowing what you want, hiring the right people and firing the wrong ones. Listen in for insight on whether or not you’re a ‘partner person’ and get Gino’s eight tips for increasing your chances of success as an aspiring entrepreneur. Key TakeawaysWhat inspired Gino’s work with entrepreneurs
What makes EOS such a successful system
Why Gino wrote his new book Entrepreneurial Leap
How Gino defines true entrepreneurship
The 6 essential traits of a true entrepreneur
The 8 critical mistakes entrepreneurs make
Gino’s advice on hiring the right people
The 8 disciplines for increasing your chances of success
Gino’s insight on the two types of ‘partner people’
Connect with Gino WickmanEntrepreneurial Leap: Do You Have What It Takes to Become an Entrepreneur? by Gino Wickman ResourcesLearn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club Traction: Get a Grip on Your Business by Gino Wickman Entrepreneurial Operating System for Business Entrepreneurial Leap: Do You Have What It Takes to Become an Entrepreneur? by Gino Wickman |
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