Mon, 3 May 2021
You take that promotion at work because you want to provide better for your family. But then you’re working MORE hours and seeing even LESS of the people you love. So, what if you could stop trading time for money? What if you didn’t have to decide between realizing big dreams for your family and spending quality time with them? Lee Yoder is the Founder and Managing Partner of Threefold Real Estate Investing, a multifamily investing firm based in Lebanon, Ohio. Lee was working as a physical therapist when he started investing in real estate, and by December of 2020, he quit his job as a physical therapist to be a full-time investor. Lee also hosts the Threefold Real Estate Investing Podcast, a show that focuses on leveraging multifamily investing to enjoy a stronger relationship with your family and a better walk with Christ. On this episode of Apartment Building Investing, Lee joins cohost Garrett Lynch and me to explain how his faith and family inspired him to pursue real estate. He describes how he gained confidence by analyzing hundreds of deals and attracted the help of a mentor to guide him through his first multifamily closing. Listen in for Lee’s take on why the Law of the First Deal works and learn how he is enjoying the flexibility to work when and where he wants as a full-time investor! Key TakeawaysWhat inspired Lee to pursue real estate
Why Lee took a 30% pay cut to make time for real estate
How Lee talked his wife into ‘the real estate thing’
How Lee shifted into the multifamily space
How Lee attracted the support of a mentor
How Lee landed his first multifamily deal
Lee’s approach to his first multifamily deal
How Lee raised money for his first few multifamily deals
How Lee led a syndication without a track record
Lee’s take on why the Law of the First Deal works
How Lee decided when to quit his full-time job
Lee’s top lesson learned in real estate
How Lee’s life is different now
Connect with Lee YoderThreefold Real Estate Investing Threefold Real Estate Investing Podcast Lee’s Free eBook: 5 Steps to Passive Income for the Full-Time Dad Email info@threefoldrei.com ResourcesLearn More About Michael’s Mentoring Program Access Michael’s Free Report—What’s the Best Investment: The Stock Market or Real Estate? Join the Nighthawk Equity Investor Club Purchase Michael’s Syndicated Deal Analyzer |
Mon, 12 April 2021
If you can see it, you can be it. And as more female multifamily investors speak up about what they are doing, it gives other women permission to pursue real estate too. To that end, Elizabeth Faircloth is creating a community where women investors can get support the way they need it. Elizabeth is the Cofounder of the DeRosa Group, a multifamily investing firm on a mission to transform lives through real estate. She and her husband Matt manage a portfolio of 1,000 units worth $60M up and down the east coast. Liz is also the Co-creator of The Real Estate InvestHER, a community that empowers women real estate investors to live a financially free and balanced life. On this episode of Apartment Building Investing, Liz joins cohost Garrett Lynch and me to offer advice for couples on aligning their goals early on. She explains how to delineate roles in a real estate business partnership and why building community is so important. Listen in for Liz’s insight on increasing the number of women investors and learn how she features female role models through The Real Estate InvestHER platform. Key TakeawaysHow Liz got into real estate
Liz’s advice for couples on aligning your goals
How to delineate roles in a business partnership
Why it didn’t work the first time Liz left her W-2 for real estate
What inspired The Real Estate InvestHER community
How Liz scaled her community to 40 Meetup groups
Why building community is so important to Liz
Liz’s insight on the small number of women investors
Liz’s role with the DeRosa Group
Liz’s advice for aspiring multifamily investors
Connect with Elizabeth FairclothThe Real Estate InvestHER Podcast The Real Estate InvestHER Community on Facebook ResourcesLearn More About Deal Maker Live Learn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club Elizabeth on BiggerPockets EP203 Rich Dad Poor Dad by Robert T. Kiyosaki |
Mon, 3 August 2020
According to the Law of the First Deal, a multifamily investor who buys their first apartment building will do their second and third deals in rapid succession, achieving financial freedom in just a year or two. But there is an exception to every rule, and Ed Hermsen is the ONE investor I know who did his first deal—and then life got in the way. So, what can he teach us about keeping momentum and staying committed to our multifamily goals? Ed grew a portfolio of single-family rentals while working as a mortgage loan officer in Fort Collins, Colorado. Five years ago, he started studying multifamily and eventually partnered with a close friend on a 22-unit deal in Pensacola, Florida. After revisiting his goal to retire by 50, Ed realized he needed to recommit to multifamily, and in the last two years, he has leveraged the partnership model to build a portfolio of 210 units and quit his job with real estate! On this episode of Apartment Building Investing, Ed joins me to describe how a 9-to-5 in mortgage banking inspired his real estate investing career and share his secrets to successful multifamily investing with partners. He discusses what made him the sole exception to the Law of the First Deal, explaining why there’s a four-year gap between his first and second deal and what finally inspired him to get back in the game. Listen in for Ed’s insight on the value of accountability and learn what YOU can do to stay committed to your multifamily goals. Key TakeawaysHow Ed got into real estate
What inspired Ed to pursue financial freedom with multifamily
Ed’s first multifamily deal
Ed’s second multifamily deal
How Ed found his partners
Ed’s insight on building successful partnerships
What made Ed the exception to the Law of the First Deal
Ed’s advice around staying committed to your multifamily goals
Ed’s latest multifamily deal
What’s next for Ed
Ed’s advice for aspiring multifamily investors
Connect with Ed HermsenEmail edhermsen14114@gmail.com ResourcesPurchase the Replay of Deal Maker Live Learn More About Michael’s Mentoring Program Fellowship of Christian Athletes The Ultimate Guide to Buying Apartment Buildings with Private Money |
Wed, 28 August 2019
Real estate investors are cautious when it comes to implementing a short-term rental (STR) strategy because of the regulatory uncertainty in the space and the extra expense of hotel taxes. But what if we could enjoy the benefits of an Airbnb model WITHOUT the uncertainty or the extra expense? Al Williamson leverages an extended-stay strategy targeted at business travelers to 10X his net income on a small multifamily property. Al is a full-time real estate investor and Managing Partner of Easy Corporate Housing, an extended-stay STR housing solution for business travelers in Sacramento, California. He also serves as a speaker, author and mentor for investors through Leading Landlord, a platform designed to help landlords increase their income and equity. Al has developed creative strategies for growing NOI as much as 10X above a conventional landlord operation, and he shares those tactics in his books, Building Wealth with Inner City Rentals and 40 Ways to Increase the Net Income of Your Rental Property. Today, Al joins me to explain how he quit his job as a civil engineer with the cashflow from an 8-unit property in an inner-city neighborhood. He describes how he went about fixing the neighborhood and discusses what inspired him to experiment with a short-term rental strategy. Al also shares how to determine your target market and walks us through the six types of extended stay customers. Listen in for insight around the benefits of offering 30-day stays and learn how to identify an ideal property for the extended-stay STR model!
Key TakeawaysHow Al quit his job with an 8-unit class D property
How Al got started investing in real estate
Why Al purchased the 8-unit class D property
How Al went about fixing the neighborhood
What inspired Al to try a short-term rental strategy
How Al implemented a short-term rental strategy
The best areas for an extended-stay, STR strategy
Al’s advice for determining your target market
The top 6 types of extended-stay customers
Why Al only needs a few units to be successful
The ideal property for an extended-stay STR
Connect with AlResourcesBuilding Wealth with Inner City Rentals: Success the Catalytic Landlord Way by Al Williamson 40 Ways to Increase the Net Income of Your Rental Property by Al Williamson |
Mon, 29 July 2019
If you make good money, and you want to make it work for you, passive investing in multifamily syndications may be a perfect fit. But what are the benefits of apartment investing compared to the stock market? How do you choose an operator you can trust? What happens if there’s an economic downturn? Can you really achieve financial freedom with passive investing?
Ryan McKenna is the founder of McKenna Capital, a private equity firm that helps investors build long-term wealth through value-add multifamily, self-storage and manufactured home park investments. Ryan has invested in 30-plus real estate and business syndications worth more than $600M, and his current portfolio includes 7,800 units in markets across the country. Ryan’s role at McKenna Capital involves overseeing acquisitions, capital raising efforts, investor relations and asset management.
Today, Ryan joins me to explain why he chose the path of passive investing and discuss what drew him to multifamily over other investment options. He shares the generous tax benefits of multifamily syndications, offering a high-level overview of how to leverage the cost segregation analysis to accelerate depreciation. Listen in for Ryan’s insight on how to vet an operator and learn how to put your money in motion and achieve financial freedom as a passive investor!
Key Takeaways
How Ryan got started in real estate
Why Ryan chose passive over active investing
Why Ryan chose multifamily over other investment options
The beauty of the multifamily cash out refinance
A high-level overview of the cost segregation study
Ryan’s advice for aspiring passive investors
How Ryan vets a multifamily operator
Ryan’s insight on waiting until after a downturn
Ryan’s timeline to financial freedom for passive investors
How Ryan’s life has changed now that he’s financially free
Ryan’s transition from passive to active investing
Connect with Ryan
Resources
Deferred Sales Trust on ABI EP166
What’s the Best Investment: The Stock Market or Real Estate?
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
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Mon, 15 July 2019
If you’ve got money to invest, you’ve got a lot of options. So, what are the pros and cons of the stock market? Single family homes? Multifamily syndications? What’s the difference between active and passive investing? And how will the predicted market correction impact each of these opportunities? Bronson Hill is the Director of Investor Relations at Nighthawk Equity, the investing arm of the Michael Blank organization. Bronson started investing in real estate 13 years ago, building a strong single-family portfolio before he transitioned to multifamily. Now, Bronson is the General Partner for 225 units, and he is passionate about sharing the benefits of passive investing in multifamily syndications. Today, we switch things up and Bronson interviews me about the options available to passive investors. I weigh in on the downside of investing in the stock market, explaining why the actual return is much lower than what your financial advisor tells you! We also cover the advantages of investing in multifamily syndications, including the below-average risk and extraordinary tax benefits. Listen in for insight around the potential market correction everyone is talking about and learn what we do at Nighthawk Equity to protect our investors from the possibility of a downturn.
Key TakeawaysThe disadvantages of investing in the stock market
The downside of investing in single-family homes
The advantages of multifamily syndications
Active vs. passive investing in multifamily
The market outlook for multifamily
How to protect yourself from a market correction
Connect with BronsonEmail bronson@nighthawkequity.com Resources |
Tue, 9 July 2019
Adding value to a multifamily property is what allows us to raise rents and earn a solid ROI. But how do we choose a contractor? As owners, how active should we be in managing the construction itself? What is the property manager’s role in a construction project? How do we know what amenities work in a particular market—and what they’re worth to renters? Ira Singer is the Principal at Mosaic Construction, a design-build industry leader based in Northbrook, Illinois. Mosaic provides best-in-class renovation, remodeling and building services for multifamily, residential and commercial property owners and managers. Marc Rutzen is the CEO of Enodo, a machine learning platform that analyzes multifamily investments and calculates the ROI on value-add amenities. Today, Ira and Marc join me to discuss the ins and outs of doing a value-add multifamily deal. Ira explains how the owner, property manager and contractor work together on a large-scale construction project, sharing the integral role communication plays in the process. Marc describes how amenity pricing varies by market and weighs in on the trend to offer services like pet daycare and credit card payments. Listen in for insight around making value-add choices that will allow you to increase rents, decrease operating costs, and boost your ROI overall! Key TakeawaysThe role a construction company plays in acquiring property
The owner’s role in overseeing a construction project
The property manager’s role in a construction project
How to approach large-scale value-add projects
Ira’s advice on hiring and managing a contractor
What construction gone wrong looks like
Ira’s insight around how to increase ROI
Ira’s tips for reducing expenses on a property
How amenity pricing varies by market
The trend toward offering services
Connect with IraConnect with MarcResources |
Tue, 2 July 2019
A lot of aspiring investors hesitate to leave the security of a high-paying job to pursue real estate. And very few are brave enough to quit their 9-to-5 and go all-in on multifamily investing without a few deals to their credit and the cashflow to cover their living expenses. Burning the boats is not for everyone, but Jerome Myers had a financial runway, and he’d had it with corporate America. So, he walked away from a six-figure engineering position to make his dreams real. Jerome is the Managing Director of The Myers Development Group, a real estate investment firm on a mission to build a portfolio of 1,000 units and free 100 people from work they aren’t passionate about. Jerome quit his corporate job to pursue real estate in 2017, and since then, he has joint ventured on several multifamily deals and is in the process of syndicating a 112-unit development deal in Greensboro, North Carolina, known as Technology Row. He is also the Chief Inspiration Officer for Dreamcatchers, a podcast featuring ordinary people doing extraordinary things. Today, Jerome joins me to explain what motivated him to quit his corporate job and go all-in on multifamily—before he’d done a single deal! He shares his struggle to land that first property with no track record and offers insight into his experience with the phenomenon I call The Law of the First Deal. Jerome also describes the differences between joint venturing and syndicating, discussing why he prefers partnering but understands the need to engage LPs as you scale. Listen in for Jerome’s advice around leveraging a coach to fast-track your success and get inspired by his ‘dreams should be real’ philosophy for pursuing what you love. Key TakeawaysWhy Jerome quit his job before he had a deal
Jerome’s struggle to land his first multifamily deal
How Jerome finally landed his first apartment deal
Jerome’s experience with The Law of the First Deal
Jerome’s second multifamily deal
Jerome’s advice around partnering
The difference between partnering and syndicating
Jerome’s ‘dreams should be real’ philosophy
Jerome’s advice for aspiring multifamily investors
Jerome’s insight on ‘burning the boats’
Connect with JeromeResources |
Fri, 12 April 2019
So, you want to achieve financial freedom with real estate investing, but you’re a busy person with a demanding job and a lot of responsibility. You don’t have time to learn the ins and outs of putting together an advisory team, finding a good deal, or making decisions about the financing and management of a property. The fact is, you can STILL enjoy the benefits of real estate investing by becoming a passive investor in a multifamily syndication! Doug Marshall is the founder and president of Marshall Commercial Funding, a firm dedicated to helping clients get the best possible financing for their rental properties. Doug has 36 years of experience as a mortgage broker, and he received his CCIM designation in 1999. His journey into passive investing began 10 years ago, and to date, he has invested in 11 properties—8 of which were apartment buildings. Doug is also the author of Mastering the Art of Commercial Real Estate Investing: How to Build Wealth & Grow Passive Income from Your Rental Properties. Today, Doug joins me to discuss how he achieved financial freedom through passive investing in commercial real estate. He describes the difference between an active and passive investor, sharing his goals as a passive investor and the characteristics of an ideal candidate for passive investing. Doug also offers insight around his preference for multifamily over other asset classes and explains how to calculate the amount you need to invest for a particular cash-on-cash return. Listen in to understand the incredible tax benefits of real estate investing and get Doug’s take on the #1 thing passive investors should consider before handing their money over to a syndicator. Key TakeawaysDoug’s path to financial freedom with passive investing
The difference between active and passive investing
Why Doug prefers multifamily over other asset classes
The advantages of multifamily real estate investing
Doug’s goals as a passive investor in multifamily
The ideal candidate for passive real estate investing
How to calculate the right amount to invest for retirement
The cash-on-cash return Doug looks for in a property
The most important considerations for passive investors
Connect with DougResources |
Mon, 18 March 2019
Too many of us get to the end of our lives and ask, “Why didn’t I follow my passion?” But what if you didn’t wait? What if you asked yourself the tough questions NOW? What if you put your energy and resources into the thing that really makes you come alive? What if you took a now-or-never approach to pursuing an intentional life? Paul Nagaoka is Managing Partner at Syndicate, a commercial and multifamily real estate investing firm based in Kansas City. He draws on his background as a mortgage broker, realtor and investor to identify high-yield investment opportunities and manage risk through careful analysis and creative problem-solving. Prior to Syndicate, Paul ran his own solo real estate investing company, growing the team to 30 employees and subs with ownership in 350-plus units. Today, Paul joins me to share his approach to living an intentional life. He discusses his hiatus from real estate, explaining how the passive income from investments allowed Paul to pursue an acting career and become a celebrity in Southeast Asia! He offers insight into why he needed a break from real estate and describes how he is running his business differently now. Paul also covers the value in developing an abundance mindset and finding opportunities that others miss. Listen in for Paul’s secrets to finding off-market properties—and get his advice on getting off the sidelines and engaging in an intentional life. Key TakeawaysPaul’s hiatus from real estate
Why Paul needed a break from real estate
How Paul is running his business differently now
Paul’s insight around taking on partners
Paul’s take on living an intentional life
What inspires people to act on their passions
What Paul is excited about moving forward
Examples of where Paul sees opportunity
How Paul finds off-market deals
How to find off-market deals without a broker
Paul’s advice for aspiring multifamily investors
Connect with PaulResourcesAndrew Carnegie’s Concept of Vertical Integration Cory Boatright & Sean Terry on ABI EP151 |
Mon, 25 February 2019
In a perfect world, honest real estate investors would never have to deal with frivolous lawsuits. But we live in the real world where being sued is a very real possibility. So, how do you protect yourself so that an angry tenant cannot get to your personal assets? What kinds of insurance do you need to protect your real estate assets from an ‘outside attack’? And where should you set up a holding company to take advantage of the strongest possible asset protection laws? Garrett Sutton is a corporate attorney, asset protection expert and bestselling author with 30-plus years of experience supporting entrepreneurs and real estate investors. He serves as Rich Dad Advisor and asset protection attorney for Robert Kiyosaki and founder of Corporate Direct, a firm dedicated to supporting clients in protecting their assets, maintaining their privacy and advancing their financial goals. He has sold more than 850,000 books, including the invaluable Loopholes of Real Estate and Start Your Own Corporation. Today, Garrett joins me to explain the ins and outs of asset protection. He discusses how the LLC protects your personal assets, why it’s important to set up an LLC from Day One, and how insurance serves as your first line of defense. Garrett offers insight around entity structure, speaking to the value of setting up a Wyoming holding company with charging order protection. Listen in to understand the concept of equity stripping to further protect your real estate assets—and learn to avoid personal liability by following the four corporate formalities! Key TakeawaysWhy it’s important to set up an LLC from Day One
How the LLC protects you as an individual
The role of insurance in providing asset protection
Why Garrett recommends an umbrella policy
How to set up the best possible entity structure
The value of a charging order protection
The 4 corporate formalities
The consequences of failing to follow corporate formalities
How Corporate Direct can retroactively fix compliance issues
The concept of equity stripping
How to notify your insurance company re: title transfer
Connect with GarrettCall (800) 600-1760 ResourcesLoopholes of Real Estate by Garrett Sutton Start Your Own Corporation by Garrett Sutton |
Thu, 10 January 2019
Who are you? Is your identity tied up in money? Another person? What you do for a living? If so, you are treading on dangerous ground, as these externalities can go away at any time. So, how do you define your WHY and create a culture in alignment with your core values? How do you awaken to your true purpose and potential? How do you live a life of significance and build a legacy you can be proud of? Keith Elias is a former NFL running back who played for the New York Giants and Indianapolis Colts from 1994 through 1999. He earned All-American honors playing college ball at Princeton, where he established school, conference, and national records. Today, he supports NFL players in making the transition to retirement, helping them awaken to their purpose and navigate life after football. Keith joins me on the podcast today to share his experience as an NFL player and his realization that there was more to life than football. He discusses why people struggle with life transitions, describing the risk in tying your identity to external things and the significance of defining your WHY. Keith offers advice around defining your core values and then using them as a guide in the decision-making process. Listen in for Keith’s insight on building a legacy and learn how to live a life of significance—starting right now! Key TakeawaysKeith’s experience as an NFL player
Keith’s realization around life beyond football
Why people struggle with life transitions
The importance of defining your WHY
Keith’s advice around defining your identity
Keith’s mission to awaken people to their truth
How to incorporate your values in everyday life
Keith’s insight on building a legacy
Connect with KeithEmail keithelias@verizon.net ResourcesReal Estate Guys Create Your Future 2019 Goal Setting Retreat |
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 |
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 |
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 |
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 |
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 EST |
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 EST |
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 EST |
Fri, 22 December 2017
Analysis paralysis? A fear of failure? Too many other responsibilities? Procrastination? The idea that you’re not good enough? What’s holding you back from FINALLY making the decision to live the life of your dreams? What if you could overcome these limiting belief systems, otherwise known as BS, and take action on your goals? What if you could totally crush it in 2018? Rod Khlief is an authority in real estate, business and peak performance. He has personally owned and managed 2,000-plus apartments and homes, building more than 22 businesses in his 40-year career. But it wasn’t until he lost his shirt in the recession that Rod learned how to build a successful life that had richness and meaning—with a focus beyond himself. Now he combines his passion for real estate investing with his understanding of ‘the psychology of success’ to serve as one of the country’s top real estate investment and high-performance life coaches. Today Rod shares how he came back from the experience of losing $50M and why he is a better person for it. He walks us through his goal-setting methodology, explaining how to develop a WHY for each objective and the value of finding images associated with each of your goals. Listen in for Rod’s insight around truly deciding, overcoming fears and discouragement, and taking action on your goals. Learn how to leverage the Dickens process to change your mindset and the value in realizing it’s not all about you. Key Takeaways[1:31] Rod’s $50M seminar
[5:05] What Rod learned from the experience
[9:17] Rod’s methodology around goal-setting
[16:33] Rod’s insight around taking action on your goals
[20:22] The value in truly deciding to change your life
[25:48] How to overcome discouragement (i.e.: lack of progress, losing a deal)
[27:23] Rod’s advice around overcoming fears
[32:30] The value of experiencing what you want
Connect with Rod KhliefRod’s Free Book
Multifamily Community on Facebook ResourcesApartment Building Investing Episode 38 Tony Robbins: The Dickens Process Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_088_-_Overcoming_Challenges_-_With_Rod_Khleif.mp3
Category:general -- posted at: 6:36pm EST |
Mon, 27 November 2017
So you want to get into multi-family investing, but you don’t have the money or the track record. Maybe you think that baby steps is the way to go, learning the game through single-family rentals or managing a small complex on your own. But if you have the right team, you don’t need to have $5M in the bank or 15 years of property management experience. You can serve as the quarterback and focus your energy on putting together deals, while your mortgage broker, property management company, and general contractor execute the playbook. Devin Elder was born and raised in San Antonio, Texas. After graduating from UT-San Antonio with a degree in business, he went the corporate route, working in sales and operations for several area companies. But with each promotion, Devin lost a little more time and a little more autonomy. Then he got fired. In that moment, Devin vowed to find an alternative. At about the same time, Devin bought, renovated and refinanced his first single-family rental. Initially skeptical of real estate as a viable investment, he soon realized that the cashflow from rental properties could be his way out. Two years and 20 doors later, Devin quit his last corporate job and became a full-time investor. Since then, he has shifted his focus to multi-family, working his way from a six-unit that he managed himself to a 75-unit to a 192-unit. Today Devin shares how a desire to scale his real estate business inspired the shift from single- to multi-family and why he takes pride in having a positive impact on the community. He explains the initial lack of confidence that held him back from pursuing multi-family and how he overcame that with the right peer group and a ‘someday is now’ philosophy. Listen in to understand why Devin would pursue entrepreneurship sooner if he could do it all over again, and hear his advice around ‘borrowing credibility’ to jump-start your multi-family business! Key Takeaways[2:33] What inspired Devin to leave the corporate world for real estate
[5:00] Devin’s initial strategy
[7:59] Devin’s shift from single- to multi-family
[9:37] Devin’s multi-family starting point
[12:17] Devin’s second multi-family deal
[15:46] Devin’s take on working your way up in multi-family
[16:59] Devin’s advice to his younger self
[18:06] Devin’s current multi-family deal
[19:27] Devin’s advice to aspiring real estate investors
[22:47] Devin’s failures
[24:00] How Devin overcame a lack of confidence
[24:52] Devin’s AHA moment
[25:33] What Devin is excited about
Connect with Devin ElderResourcesFree eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_085__How_to_Borrow_Credibility_To_Quit_Your_Job_With_Apartments__With_Devin_Elder.mp3
Category:general -- posted at: 4:10pm EST |
Tue, 3 October 2017
Your chances of doing even a 60-unit multifamily deal on your own—with no track record—are very slim. Even with the capital and the knowledge, if you are lacking in the reputation department, brokers will have no confidence in your ability to close. Enter Nighthawk Equity, my partnership with Mark Kenney. You bring the deals, and Nighthawk does the rest. Mark has been investing in real estate since he graduated from Michigan State 23 years ago, partnering with his twin brother to buy and rehab a $36K duplex. He continued to pursue small deals and flips during his career as a CPA and consultant for KPMD. Eventually, he started his own IT company. The business thrived, but 80-hour weeks and extensive travel translated to suffering in his personal life. With his marriage in trouble, Mark made the decision to take a huge pay cut, hand off the big projects to someone else, and pursue real estate investing full-time. With the support of his family, Mark spent nearly a year securing his first big multifamily deal, a 64-unit building in Dallas. Adhering to the ‘law of the first deal,’ his second and third deals followed right away. In four years, Mark has purchased 2,000 units and raised tens of millions in capital. Today, Mark shares the process of working with Nighthawk Equity to secure a deal, explaining how we came to join forces, the response to Nighthawk, and the right time to get Nighthawk involved in your deal. Listen in to understand the mission of Nighthawk Equity, and how the firm also supports passive investors looking for a solid ROI. Key Takeaways[2:36] How Mark got started with real estate
[5:13] Mark’s decision to become a full-time real estate investor
[7:16] Mark’s first syndicated multifamily deal (64 units)
[9:44] The deals that followed in rapid succession after the first
[11:30] The importance of surrounding yourself with the right people
[12:46] Michael and Mark’s partnership
[14:51] The response to Nighthawk Equity
[17:47] The process of working with Mark and Michael
[18:52] The right time to get Nighthawk involved
[20:44] The future of Nighthawk
[24:44] Mark’s pitch to passive investors re: multifamily
Connect with Mark KenneyEmail: mark@thinkmultifamily.com ResourcesFinancial Freedom Summit Wait List Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_080__Nighthawk_Equity_You_Find_the_Deal-We_Do_The_Rest__With_Mark_Kenney.mp3
Category:general -- posted at: 6:31pm EST |
Tue, 22 August 2017
What gives a 27-year-old with no experience in apartment building investing the audacity to swing for the fence? Patrick Duffy grew up in Southern California before heading east for college. After graduating from Harvard in 2013, he returned to SoCal to work as a commercial real estate banker and later for a hedge fund, buying non-performing mortgages. He grew up around real estate, his family owning a multi-family property since the 1950’s, and he had always intended to invest in apartments—as soon as he had the money to do so. Before long, Patrick was unhappy at his job, so he started reaching out to investors he had lent to in order to get clarity on how to analyze deals. Despite his lack of experience on the principal side of real estate, Patrick started studying LoopNet and set the goal of securing 100 units in two years. Eventually, he discovered Michael’s Deal Desk resource, and used the Syndicated Deal Analyzer to get feedback on a 69-unit property in Memphis. The deal met Michael’s criteria, and the two forged a partnership. Today Patrick explains the steps he took to research the Memphis market, how he made use of the act ‘as if’ approach to secure a letter of intent, and his best advice for working with investors. Listen in as he shares the mindset that helped him swing for the fence on a multi-family deal and how doing his first deal has changed the game for Patrick, as he aspires to reach 1,000 units in the next 12 months. Key Takeaways[3:30] How Patrick landed on the partnering strategy to finance multi-family
[6:04] How Patrick found the Memphis deal
[9:23] Why Patrick continued to move forward
[11:13] Michael’s partnership with Patrick
[13:18] Patrick’s experience working with investors
[15:23] The closing process for the Memphis 69-unit deal
[16:25] The impact of doing your first deal
[19:50] Why size isn’t a factor for Patrick
[21:35] Patrick’s advice for aspiring multi-family investors
Connect with PatrickEmail: pduffy32@gmail.com ResourcesUltimate Apartment Investing Course The Financial Freedom Summit Live Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_074_-_How_I_Did_My_First_69-Unit_Deal_Without_Experience_or_My_Own_Money__With_Patrick_Duffy.mp3
Category:general -- posted at: 7:30pm EST |
Sat, 5 November 2016
In this episode, Mark Walker shares with us how he replaced his income from a high-tech job with passive income from multifamily properties. Like so many people I’ve talked with, Mark started with single family investing before realizing that multifamily investing would allow him to achieve his dream of financial freedom. His path was not always easy but one day in Mark “decided” that he was going to achieve financial freedom and from that moment on he worked towards escaping the rat race. In my experience, once you truly decide to do something you can’t stop yourself from taking action! So decide already! Mark has some great advice and he’s even got a free PFD that you can download entitled “10 "Not So Obvious" Ways to Boost Your Multifamily Property NOI.” You can download it here Key Takeaways [1:15] Mark’s Backstory
[3:38] The day Mark “decided” to achieve financial freedom [5:16] Why Mark started investing in condo’s and townhomes
[6:05] Marks Hiatus from real estate investing
[9:10] Why Mark decided to shift strategy and start investing in multifamily
[13:04] Why Mark decided to do bigger multifamily deals
[14;13] Marks mental struggle transitioning from a W2 employee to a full-time real estate investor.
[17:4] What Mark would do differently if he could do it over:
[20:11] Why a very successful investor would be willing to partner with a noobie [23:10] Marks advice for a new investor
Resources mentioned Mark's gift to listeners: 10 "Not So Obvious" Ways to Boost Your Multifamily Property NOI
Direct download: MB_049-_How_I_Replaced_My_Income_With_Apartment_Buildings__With_Mark_Walker-2.mp3
Category:general -- posted at: 12:16pm EST |
Sun, 30 October 2016
For many of these episodes, I bring on someone who is already very successful in multi-family investing and I will continue doing so because there is a lot to learn from these people! However, I also really enjoy talking with relatively new investors about their first deal since that first deal is always the hardest, and it’s the most important step you can take towards achieving your financial goals. This week, I welcome to the show Ed Hermson. In this episode, you will find out how Ed was able to close his first 22-unit apartment building deal just 3 months after getting started, and how long it will take for Ed to achieve his goal of $10,000 per month in passive income! Key Takeaways [2:26] Ed’s backstory
[6:22] Why Ed decided to stop investing in single family housing
[7:36] Why Ed decided that Multifamily was a good fit [9:36] What stops people, (including Ed), from getting that first deal done [10:43] How Ed overcame his monetary limitations
[12:12] Why Ed decided to focus on smaller markets
[18:21] How Ed found his first big deal
[23:21] Why paying for an appraisal on an apartment complex is usually a waste of money
[24:29] Ed’s advice on building an investment team
[25:34] How you can find the time for multi-family investing while working full-time [36:53] Ed’s advice to new investors
[38:19] Why you should focus on building relationships with bankers and property managers (instead of just realtors) Connect with Ed Hermsen
Direct download: MB_048-_How_I_Closed_My_First_22-Unit_Apartment_Deal_in_3_Months_With_Ed_Hermsen-2.mp3
Category:general -- posted at: 5:36pm EST |
Mon, 10 October 2016
This week’s guest is Bill Manassero. Bill is truly one of the world’s good guys. He’s has done a lot in his life and most recently he spent 11 years as a missionary to orphans, abandoned and at-risk children in Haiti. At the age of 60, Bill realized that he was closing in on the age of retirement and he wasn't financially ready for it! Other than a little money in an IRA account and social security benefits Bill didn't have a method of generating income. Being a Walmart greeter didn't appeal to him so he started looking for ways to generate passive income. After throwing out a few ideas, Bill chose real estate and he decided to go big. Bill’s goal is to control 1000 doors in 6 years. He’s 3 years in and is well on his way! Since finding some success in real estate Bill has decided to help others who like him are getting close to retirement and need to generate income. Bill started The Old Dawgs Network which began as a blog and is now also supported by a podcast! In this episode, Bill shares his inspiring story as well as the "why" behind his goal. Bill has a very strong “why” and we discuss what that is for him and why it's so important you find your "why". I hope you all enjoy this episode as much as I did! Key Takeaways [8:41] Why Bill chose multifamily investing to generate income [12:50] Why Bill decided to focus on multi-family over single family real estate investing
[15:09] Factors Bill considered when assessing his first big deal
[19:28] How Bill used the inspection process on his fist “big deal” to get a better price [27:01] The importance of identifying your “why” [31:13] How Bill broke down his big goal into manageable steps
[32:40] The importance of remembering that real estate investing is about more than just money [34:23] Why Bill decided to move into his apartment building [37:48] The inspiration behind “The Old Dawgs Network” Connect with Bill Manassero: Resources mentioned
Direct download: MB_047-_Make_Your_First_Million_with_Real_Estate_-_Then_Change_the_World-2.mp3
Category:general -- posted at: 8:43pm EST |
Mon, 3 October 2016
In Gary Keller’s book “The One Thing” he asks the following question; What's the ONE thing you can do such that by doing it everything else will be easier or unnecessary? In this podcast I pretty much talk about one thing, that’s getting your FIRST deal. No matter the size, after you’ve done your first deal, the subsequent deals will be much, much easier.
Key Takeaways:[8:20] Most of the time our biggest regret is not doing more, sooner. [8:50] Strategies for finding your first deal [23:20] Brooks second deal
[27:21] The only thing stopping you from taking the first step is yourself [30:20] Take your biggest, scariest task and do that FIRST
Connect with Brooks:yournextplaceinvestments@gmail.com Phone: (301) 465-9047
Direct download: MB_046-_How_Can_a_UPS_Driver_Quit_His_Job_With_Small_Apartment_Buildings-2.mp3
Category:general -- posted at: 1:50pm EST |
Wed, 28 September 2016
In this episode, I’m joined by Kathy Fettke, CEO and Co-Founder of the Real Wealth Network and host of The Real Wealth Show podcast. She is a frequent contributor to national news including CNN, CNBC, NPR, FOX News, CBS MarketWatch and the Wall Street Journal. Kathy is a lot of fun to talk with, and her story is both educational and inspiring. She has a ton of real estate experience in both single family and multifamily investing and has experienced some incredible highs and lows in her personal and professional life. In this interview, she tells us about her husband coming home with the news that he’s been diagnosed with cancer with only six months to live and how she turned to real estate to pay the bills. She also tells us about a 92-unit apartment deal that looked oh so perfect, before turning into a nightmare. Kathy has been through and accomplished a lot and lucky for us she's more than willing to share what she's learned! Key Takeaways:
[7:27] The worst real estate markets right now
[9:14] Metrics to look for in a market
[8:30] Some of the best real estate markets right now
[16:21] The insurance clause you NEED to be aware of when your property is vacant [17:48] The one thing you ALWAYS do right before closing on a property
[22:38] When something goes wrong, communicate more with investors! NOT LESS! [24:58] - Trust your gut.
[26:24] What to look for in a Syndicator/Sponsor
[34:28] Get your advice from people who have already done what you want to do [41:51] There is no “happy ending”. We are here to grow
Connect with Kathy Fettke Realwealthnetwork.com | FREE to join
Direct download: MB_045-_Living_Life_to_the_Fullest_as_a_Real_Estate_Entrepreneur-2.mp3
Category:general -- posted at: 12:54pm EST |
Fri, 19 August 2016
The multi-family market is hot right now making it harder to find good deals. Finding a way to charge above market rents is one strategy that allows us to buy properties at market and still get the returns we are looking for.
[7:31] Alternative ways to use the platform
[10:15] Where the short term rental strategy can work
[11:42] Scalability of this strategy
[13:46] Regulatory Uncertainty
[15:36] Pro AirBnB cities
[19:22] Nav’s advice to real estate investors evaluating this strategy:
Resources mentioned Blog Post: THE RISE OF THE PROFESSIONAL AIRBNB INVESTOR- https://www.realtyshares.com/blog/the-rise-of-the-professional-airbnb-investor/ Connect with Nav Website: www.realtyshares.com
Direct download: MB_044-_The_Rise_of_the_AirBnB_Multifamily_Investor-2.mp3
Category:general -- posted at: 12:39pm EST |
Wed, 27 July 2016
In the previous episode titled, "How to Expand Your Mind To Go BIG with Multifamily Investing," I make the argument that Bigger is Better. I stand by that, so please listen to that episode before you listen to this one! However, if you go through the exercises laid out in that episode and still don’t feel comfortable with going big, I have a Plan B: duplexes
Key Takeaways:Why Duplexes Are the Perfect Way To Get Started With Multifamily Investing[3:22] Reason # 1: There's more of them and they're easier to find
[4:39] Reason # 2: You need less money
[5:01] Reason # 3: They're easier to analyze
[7:05] Vision setting is important but don’t let your vision stop you from achieving your goals
[8:08] 90 day plan to buying your first duplex[8:51] Week 1: Educate yourself
[9:35] Week 2: Determine investing area
[10:27] Week 3: Analyze 5 deals
[15:33] Criteria:
[17:58] Week 4: Start raising money
[19:04] The Last two months
Direct download: MB_042-_How_To_Do_Your_FIRST_Apartment_Building_Deal_in_the_NEXT_90_days-2.mp3
Category:general -- posted at: 4:14pm EST |
Tue, 15 March 2016
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Thu, 18 February 2016
This episode is all about doing due diligence on commercial real estate. Due Diligence is rarely talked about because it takes back seat to sexier topics like raising money and finding, analyzing and negotiating deals. But I have found that more investors make mistakes during the due diligence than any other part of the process. To help us with due diligence I have on the show today Brian Hennessey. Brian has been in the commercial real estate industry for 31 years as: a commercial broker for 22 years; a Senior Vice President of Acquisitions and Dispositions for 6 years for a major investor, and ran his own real estate syndication/asset management company for 3 years. He has represented a number of Fortune 500 Tenants including Bank of America, The Walt Disney Company and Baxter Healthcare. With over 9 million square feet of sale transactions, many painful, but valuable lessons were learned and a wealth of experience was accumulated. He is the author of the book “The Due Diligence Handbook for Commercial Real Estate Investments”, a top selling He's going to share with us the Top 10 Mistakes people make when doing due diligence on commercial real estate. So it's important to pay attention to what Brian has to say. Here are the complete show notes and transcript: http://www.themichaelblank.com/session31/ |
Thu, 18 February 2016
I heard of two deals recently that ended up going south after the lender apparently did not come through with the loan. Upon closer inspection, though, it was ignorance by the sponsor about how the lender would underwrite the deal, i.e. how they would value the asset and determine the LTV, for example. Or what they require of the sponsor. Or that they require (gasp!) a capital reserve at closing. All of these materially alter the deal and need to be understood upfront. To avoid these mistakes, it's imperative that you "interview" your commercial mortgage brokers so that you understand how they underwrite deals and they will require of you. Then you can incorporate those assumptions into your financial model (i.e. the SDA) and you won't be taken by surprise a few weeks before closing. In my course "The Ultimate Guide to Buying Apartment Buildings with Private" I have a list of 10 questions to ask your commercial mortgage brokers. What I wanted to do in this episode is actually interview a broker and ask them the 10 questions. That way, you know the questions to ask and you'll also get an idea of what answers you can expect. To help us with this exercise, I have on the call Ira Zlotowitz, founder and president of Eastern Union Funding and Shai Romirowsky, VP at Eastern Union Funding. Here are the complete show notes and transcript: http://www.themichaelblank.com/session30 |
Tue, 26 January 2016
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Tue, 19 January 2016
Direct download: MB_028_10_Practical_Tips_To_Achieve_Your_Goals_This_Year.mp3
Category:general -- posted at: 2:42pm EST |
Fri, 11 December 2015
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Wed, 9 December 2015
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Wed, 9 December 2015
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Tue, 1 December 2015
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Wed, 18 November 2015
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Mon, 16 November 2015
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Wed, 23 September 2015
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Thu, 10 September 2015
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Mon, 16 February 2015
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Fri, 6 February 2015
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Tue, 2 December 2014
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Thu, 20 November 2014
Direct download: Phone_Conference_Recording_11-20-14-FINAL.mp3
Category:general -- posted at: 4:36pm EST |
Fri, 24 October 2014
Michael Becker doesn't think small! He describes how he overcame his fear and went from 9 to 1,000 units in just 12 months using other people's money. Find out why he uses only Fannie Mae debt and how a single partnership propelled him into orbit. |
Mon, 22 September 2014
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Mon, 15 September 2014
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Tue, 5 August 2014
Join me as I chat with Chris Winterhalter about his fascinating journey from wholesaling houses to his first apartment building which almost cost him his shirt! Now he owns 100 units within a mile of that building and has his sites on 500 units. |
Mon, 4 August 2014
http://www.TheMichaelBlank/session13: In part 2 of this series, Dan Miller of Fundrise describes in detail how to raise capital for your next commercial real estate deal using equity crowdfunding. |
Mon, 4 August 2014
http://www.TheMichaelBlank/session12: In part 1 Dan Miller of Fundrise gives us an overview of how equity crowdfunding works and why it's great for commercial real estate. We also talk about what it's like to invest in a crowdfunding project. |
Mon, 4 August 2014
http://www.TheMichaelBlank.com/session11: In this episode I talk with Spencer Cullor who chronicles how he got started with commercial real estate investing. After educating himself, he got into his first commercial real estate deal which didn't pan out the way he imagined. He stuck with it, licked his wounds, and learned from his experiences and got into apartment buildings, and he's never looked back. |
Fri, 23 May 2014
In this episode I cover how to go about getting your first deal in an area you've never been in. We'll talk about cold-calling brokers, building trust, analyzing deals, scheduling the first trip to the area, conducting the meetings, and follow-up. |
Sun, 18 May 2014
I'm excited to be able to welcome Tommy Bateman to the show this week. Tommy started his career with a single town house in SE Washington DC that he bought with the help of his grandmother. His focus as been to find problem properties and add value in a short period of time, using the equity he creates to purchase more real estate. Today he owns apartment buildings, rentals, a property management company, and he loves development projects. |
Fri, 2 May 2014
Brian Burke started flipping houses on the side while still employed full time. Over the years, he's not only built the house flipping business but amassed several hundred apartment building units. Let's listen to his story. |
Financial Freedom with Real Estate Investing (general)
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