Fri, 29 December 2017
When I went along on my real estate journey and—all of a sudden—apartments became the thing that I wanted, there was a level of excitement that I had not experienced before... I imagine myself owning many apartment buildings, and that’s the vision I’ve set for myself.’
In December of 2016, veteran Seattle police officer David Sweeney turned 53. After a 30-year career, he had reached the minimum retirement age, but David knew he could not stop working if he wanted his family to have a comfortable life. Looking for new options for himself and his family, he started exploring real estate. David liked the ring of ‘multi-family investor,’ so he started looking for duplexes, triplexes and fourplexes. By April, he had secured his real estate license to gain access to the MLS, and he spent the next five months evaluating 400-plus deals.
Though a few deals fell through, David was motivated by his goal. He refinanced his own home and pulled $380K—and waited for the right opportunity. By August, David had started thinking bigger, and when he came across a 24-unit property in Centralia, he made an offer that was accepted. Now David is looking for his next deal and looking to help other aspiring investors find deals of their own. Today he shares his process for analyzing deals and how he made the mindset shift from pursuing duplexes, triplexes and fourplexes to apartment buildings. He discusses the challenges he faced in getting a loan and how he leverages his commercial lender as a ‘second set of eyes.’ Listen in for David’s bold 2018 goals and his advice for aspiring investors around increasing your productivity through purpose!
[0:40] The trigger that moved David to pursue real estate
[2:15] David’s initial strategy
[4:32] How David moved forward toward his goals
[8:16] David’s mindset from April through August
[10:28] David’s shift to thinking big
[15:58] David’s first deal
[19:08] David’s goals for 2018
[22:16] The challenges David faced in doing his first deal
[24:28] How David’s first deal is performing
[26:57] David’s advice for aspiring real estate investors
Connect with David Sweeney
Think and Grow Rich by Napoleon Hill
Direct download: MB_089_-_Increasing_Your_Productivity_Through_Purpose__With_David_Sweeney.mp3
Category:Commercial Real Estate -- posted at: 6:13pm EDT
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.
[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 Khlief
Rod’s Free Book
Direct download: MB_088_-_Overcoming_Challenges_-_With_Rod_Khleif.mp3
Category:general -- posted at: 6:36pm EDT
Sat, 9 December 2017
It’s important for each of us to find our niche in the real estate investing space. Maybe you’re confident that commercial real estate is where you want to be, but multi-family just doesn’t feel like the right fit. There are other asset classes to consider, and one of the most recession-resistant is that of self-storage.
Hunter Thompson is the Managing Principal of Cash Flow Connections, a private equity group out of Los Angeles that connects passive real estate investors with opportunities in the commercial space, with a specific focus on mobile home parks and self-storage properties. Hunter has done 100-plus deals valued in excess of $350M.
Hunter got his start investing in stocks, but the lack of predictability in the market led him to focus on simpler investments with mitigated risk. After connecting with a network of like-minded individuals, he began investing in mortgage notes before branching out into other real estate asset classes. Today he shares what inspired him to invest in self-storage, explaining what makes the opportunity truly recession-proof. Hunter discusses self-storage value-add strategies, the benefits of self-storage as an investment, and how to find the best markets in the space. Listen in to understand what Hunter looks for in a sponsor, his approach to management, and his advice around next steps for aspiring self-storage investors.
[1:45] Hunter’s shift to real estate investing
[4:20] Hunter’s first real estate deal
[5:43] How Hunter got into self-storage
[7:28] The benefits of investing in self-storage
[10:13] The best markets for self-storage investment
[12:06] What Hunter looks for in terms of underwriting
[13:26] Hunter’s approach to management
[15:28] What Hunter looks for in a sponsor
[17:06] A case study of Hunter’s ideal investment
[19:44] Hunter’s take on trends in self-storage
[21:36] Hunter’s advice around next steps for aspiring investors
[23:03] What Hunter is excited about
Connect with Hunter Thompson
Tue, 28 November 2017
‘At the end, you’re trying to find your highest and best use. How can you effectively create value based on your limited time?’
Perhaps you’re interested in getting into multifamily, but syndication is not for you. If your strengths lie in networking and raising money, you can get into apartment building investing as a general partner who specializes in soliciting capital.
Based in Hawaii, Lane Kawaoka still works his day job as an engineer, but he is quickly growing passive income streams via multi-family investing. After graduating from college with a degree in engineering, he got a job in construction management that required a lot of travel. In 2009, Lane bought a primary residence in Seattle—but he was never there. He decided to rent out his A-class property, and the cashflow generated from that enterprise inspired him to purchase more.
From there, Lane expanded his single-family portfolio, eventually discovering turnkey rentals. Today he is pursuing multi-family, recently landing his first 190-unit deal. But Lane is working deals from a different angle, coming in as the general partner who specializes in raising capital. On this episode, he shares his unique multi-family strategy, explaining how his Simple Passive Cashflow blog and podcast position him as a thought-leader in the space and afford the opportunity to network. Listen in to learn how Lane is compensated as the money-raiser, and hear his advice for aspiring entrepreneurs about building a platform that establishes your credibility as a multi-family investor!
[2:30] How Lane got into real estate
[6:11] Why Lane made the shift to multifamily
[7:33] Why Lane was slow to get started in multi-family
[8:33] The four parts necessary to do a multi-family deal
[9:24] How Lane leverages his blog and podcast
[10:20] Lane’s approach to finding deals
[11:58] Lane’s first multi-family deal
[13:36] Lane’s multi-family strategy
[15:09] How Lane is compensated as the money-raiser
[15:55] Lane’s strength in accessing capital
[17:36] Lane’s multi-family strategy moving forward
[19:37] Lane’s advice for aspiring entrepreneurs
Connect with Lane Kawaoka
Free eBook: The Secret to Raising Money to Buy Your First Apartment Building
Direct download: MB_086__Become_a_Money_Raiser_to_Quit_the_Rate_Race__With_Lane_Kawaoka.mp3
Category:Commercial Real Estate -- posted at: 12:41pm EDT
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!
[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 Elder
Direct download: MB_085__How_to_Borrow_Credibility_To_Quit_Your_Job_With_Apartments__With_Devin_Elder.mp3
Category:general -- posted at: 4:10pm EDT
Thu, 16 November 2017
“I had this moment where I realized, ‘No, I’m not going to be the CEO of somebody else’s dreams. I’m going to be the CEO of my own dreams.’ I declared that day that I was never going to be an employee again.”
Tamar Mar is an adventurer at heart. She spent 20 years in the startup and small business arena, working as COO for prominent companies in the FinTech and real estate brokerage space. After making that decision to be the CEO of her own dreams, Tamar became what she calls a ‘business opportunist,’ building out her real estate portfolio and investing in small businesses like The Fitness Shop, a high-end specialty fitness equipment retailer.
Tamar invested in her first property at the age of 19, and she has owned rental properties for 15-plus years. From purchasing homes on auction to fix-and-flips to large-scale renovations projects, she has a keen eye for evaluating deals. This year, Tamar has shifted her focus to the acquisition of underperforming commercial and multi-family. Today she shares how she made the shift from single- tomulti-family real estate, her approach to landing the first deal, and how she has become a ‘capital magnet.’ Listen in and get inspired to dream big and ‘take massive stinking action every day.’
[3:06] How Tamar got involved with real estate
[5:52] Tamar’s first real estate strategy
[6:40] Tamar’s shift from single- to multi-family
[7:24] Why people are intimidated by multi-family
[8:04] What inspired Tamar’s shift to multi-family
[9:03] Tamar’s approach to landing her first multi-family deal
[12:05] How Tamar raised the capital to fund her first multi-family deal
[14:51] How the project is performing so far
[16:15] Tamar’s exit strategy
[16:57] How the Law of the First Deal is impacting Tamar
[21:23] How Tamar’s multi-family success has shifted her perspective
[22:15] Tamar’s AHA moment
[24:06] Tamar’s advice to her younger self
[25:03] Tamar’s advice to aspiring multi-family investors
[26:22] What Tamar is excited about moving forward
Connect with Tamar Mar
The Millionaire Real Estate Investor by Gary Keller, Dave Jenks and Jay Papasan
Direct download: MB_084__Be_The_CEO_of_Your_Own_Dreams__with_Tamar_Mar.mp3
Category:Commercial Real Estate -- posted at: 11:15am EDT
Thu, 2 November 2017
What is your Stupid Human Trick?
We all have a unique ability that seems incredible to others. The trick is figuring out what it is that you are particularly good at and using those strengths to craft the processes and systems that capture wealth.
Cashflow Ninja M.C. Laubscher came to the US from South Africa in 2001 with a backpack and $500. He played competitive rugby and learned the real estate business via experience, buying his first property at the age of 21. M.C. befriended a wealthy multifamily investor who became his ‘accidental mentor,’ asking M.C. to serve in several different capacities from maintenance to leasing to property management to acquisitions. This education served him well, giving M.C. invaluable insight into the world of the wealthy and an understanding of all the moving parts of real estate. Now he is the President and Chief Wealth Strategist of Valhalla Wealth, a wealth management firm that leverages the Infinite Banking Concept to help clients co-author a plan for achieving financial security, independence, freedom and significance.
M.C. is also the host of Cashflow Ninja, a popular business and investing podcast that seeks to empower people to grow and protect their wealth in the new economy. Today M.C. shares the best investment opportunities out there that combat wealth destroyers, why people struggle financially, and his advice for investors who want to break the mold. Listen and learn how to determine the wealth-building vehicle that’s right for you and the importance of investing in your own health, relationships and education. You are your own greatest asset, and M.C. is here to inspire you to reach your potential through multifamily investing!
[2:48] How M.C. got involved in real estate
[5:14] What surprised M.C. about ‘the world of the wealthy’
[6:36] M.C.’s take on the best investments out there
[10:05] Why people struggle financially
[14:08] M.C.’s advice to people who want to break the mold
[19:45] The benefits of investing in insurance products
[23:07] How to figure out which vehicle or process is best for you
[26:26] M.C.’s lowest depth of misery
[28:56] M.C.’s aha moments
[31:22] What M.C. would tell his younger self
[34:30] M.C.’s perfect day
Connect with M.C. Laubscher
Becoming Your Own Banker: Unlock the Infinite Banking Concept by R. Nelson Nash
Direct download: MB_083__The_Best_Investments_to_Build_Wealth__With_The_Cashflow_Ninja_M.C._Laubscher.mp3
Category:Commercial Real Estate -- posted at: 10:04am EDT
Mon, 30 October 2017
Wealth is code for freedom.
If you want to be a millionaire, it’s probably because you want control over your time. You want the autonomy to make your days your own and spend them with the people you love. Today’s guest chose real estate as his path to freedom, spending less than he earned and investing the excess in apartment buildings. Maybe you are interested in doing following a similar path, but something is holding you back…
Paul Morris is the co-author of Wealth Can’t Wait, a New York Times bestseller that identifies the seven traps that keep people from building wealth and equips readers with a comprehensive set of skills to achieve financial freedom. An active and consistent investor, he has grown his real estate portfolio to more than 700 rental units and 150,000 square feet of retail commercial space, and Paul was named among the 200 Most Powerful People in Residential Real Estate in 2013 and 2014.
Prior to working full-time in real estate, Paul enjoyed a successful legal career, working as an associate at a major international law firm and as Senior Counsel with the US Department of Justice. He has a degree in economics, a master’s in management from Oxford, and a JD from Cornell Law School. Today Paul shares his early experience in real estate, investing in a duplex while he was still in school. He speaks to the kinds of investments he prefers, the pros and cons of working with a partner, and how to get started in real estate with little to no money. Listen in to understand the three rules for investing that have helped Paul avoid losing money, as well as the seven wealth traps that keep people ‘stuck on the sidelines.’ Find out what’s holding you back and get on the path to health, wealth and freedom!
[1:55] How Paul got into real estate
[4:59] The pros and cons of having a partner
[8:11] The kinds of investments Paul favors
[11:03] Paul’s philosophy of wealth as code for freedom
[15:57] The 7 Wealth Traps
[26:40] How to start investing in real estate with little or no money
[29:32] Paul’s 3 rules for investing to avoid losing money
[33:12] What Paul is excited about
[34:04] Paul’s perfect day
Connect with Paul Morris
Wealth Can’t Wait: Avoid the 7 Wealth Traps, Implement the & Business Pillars, and Complete a Life Audit Today! By David Osborn and Paul Morris
The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley and William D. Danko
Tue, 3 October 2017
There’s more than one way to skin a cat, and though we spend a lot of time on the podcast addressing aspiring syndicators, there are other routes to financial freedom via real estate investing. High net worth individuals who are interested in getting a little skin in the multifamily game should consider the benefits of passive investing. Regardless of approach, the end game of apartment building investing remains the same: Permanently replace your income and get out of the rat race for good!
Dr. Tom Black (also known as The Passive Income Physician) was working as a busy emergency doctor in a high-volume trauma center. Yes, he was making good money, but he was working insane hours and he rarely saw his family. Tom was financially secure, but far from financially free—and he was fed up with sacrificing his time for money. Already enamored by the cashflow potential of real estate, Tom purchased several single-family homes and even tried his hand at commercial real estate before stumbling into his first multifamily deal, a 305-unit in Arlington, two years ago.
Tom’s brother, Tim Black, enjoyed a 32-year career in entertainment, retiring as the COO of a large hospitality company in March of 2016 when the business was sold to private equity. Eventually, his brother convinced him that multifamily was the best means to making your money work for you, and together they started Napali Capital. The firm has grown quickly, and the Blacks currently have 1,000-plus units in assets under management. Today Tom and Tim explain why multifamily is the best choice for passive investors, how to assess the risk profile of a multifamily deal, and the characteristics to look for in a potential syndicator. Listen and learn the returns a passive investor can expect from multifamily, the skill set necessary to become a successful investor, and the staggering tax benefits afforded by the platform.
[2:41] What prompted Tom’s involvement in real estate
[5:51] When Tom identified multifamily as a ‘way out’
[7:23] Tom’s shift from single family to commercial real estate
[8:19] Why Tom wanted out of full-time medicine
[9:25] Tom’s first multifamily deal
[10:29] The difference between commercial development and multifamily
[13:31] Tom’s advice around quitting your day job
[14:34] How Tim came to work with his brother
[16:54] Why multifamily is the best choice for passive investors
[19:22] How to assess the risk profile of a multifamily deal
[20:41] The returns a passive investor can expect in multifamily
[22:22] The skill set necessary for a passive investor
[23:58] The Black’s advice around choosing a syndicator
[25:54] How to pacify the passive investor’s fear around risk
[27:06] The staggering tax benefits of multifamily
[30:10] Tom’s final tips for aspiring multifamily investors
[31:09] What the Blacks are excited about
Connect with Tim & Tom Black
Email Tim: email@example.com
Email Tom: firstname.lastname@example.org
Direct download: MB_081_-_The_Passive_Income_Investor_-_With_Tim__Tom_Black.mp3
Category:Commercial Real Estate -- posted at: 6:41pm EDT
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.
[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 Kenney
Direct download: MB_080__Nighthawk_Equity_You_Find_the_Deal-We_Do_The_Rest__With_Mark_Kenney.mp3
Category:general -- posted at: 6:31pm EDT
Wed, 20 September 2017
One of the big real estate rookie mistakes is to turn into a Walmart shopper as you build your team. It is easy to see a coach, lawyer, or property manager as an expense and choose to go with someone less experienced—or even elect to do the job yourself. But today’s guest can attest to the fact that a quality team is an investment that can save you millions in the long run.
Damion Lupo is a serial entrepreneur with a ‘think big’ mentality. In the last 25 years, he’s founded more than 30 companies in a number of industries including insurance, precious metals, venture capital, financial consulting and real estate. Damion is also a black belt in three different disciplines and the architect of Yokido, his very own martial art.
Damion’s personal philosophy centers around self-responsibility and a conviction that candor, growth and a big vision provide the only path to freedom. His commitment to these values led to the creation of Total Control Financial, a FinTech that seeks to reinvent financial control and empower Main Street with the tools of financial transformation. Today Damion discusses his first multifamily deal, a 119-unit property in Memphis that resulted in a $2M loss, and the lessons he learned from the experience. He shares the transformational power of failure, the importance of building a team you can trust, and the extraordinary value of a mentor. Learn how Damion’s shift from consumer to contributor had a revolutionary impact on his life.
[4:03] How Damion got into real estate
[5:44] Damion’s first steps in real estate
[7:18] How Damion was able to avoid bankruptcy
[7:58] How Damion got stretched too thin early in his real estate career
[9:35] The lessons Damion learned from his first multifamily deal (119-unit in Memphis)
[14:31] What Damion could have done differently on the Memphis deal
[19:50] The value of a coach/ mentor
[24:48] Damion’s advice around leading a team
[25:52] How Damion reinvented himself after hitting rock bottom
[32:45] How dark times set you up for success and fulfillment
Connect with Damion Lupo
Direct download: MB_079__How_I_Lost_2M_in_Multifamily_and_Lessons_Learned__With_Damion_Lupo.mp3
Category:Commercial Real Estate -- posted at: 7:43pm EDT
Fri, 8 September 2017
‘That’s just the way I’m built: Nothing’s going to stop me.’
Joseph Gozlan’s story defines the word GRIT. Once he decided that multi-family was the route he wanted to take, Joseph continued to drive through every challenge, getting creative and doing whatever it took to secure his first deal despite the roadblocks and frustrations. Three years later, he is the proud owner of two apartment buildings, and he has five properties in the pipeline. Joseph’s living expenses are covered, and he is considering a transition into full-time real estate in the very near future.
Joseph got his start in real estate back in 2005 when he and his new wife realized that their new five-bedroom home was too big for just the two of them, so they chose to stay in an apartment and rent the property. Two years later, they moved to the United States from Israel and recognized the opportunity provided by the market collapse. The Gozlans secured their real estate licenses and began actively hunting for deals, purchasing a duplex and several single-family homes.
In 2015, Joseph realized there was much more value in apartments than could be gained in scaling single-family homes, and he started extensive research into multi-family investment. Unfortunately, Joseph faced a number of hurdles along the way, and it took a full two years to secure his first 22-unit apartment complex. When many would-be multi-family investors would have given up, Joseph persevered, and today he shares his long road to successful apartment building investing with us. Listen in and get inspired as Joseph discusses why he chose real estate in the first place, the circumstances around his shift to multi-family, and how he has maintained his full-time job in IT while developing a lucrative real estate portfolio.
[1:59] Joseph’s start in real estate
[4:34] Why Joseph chose real estate in the first place
[6:26] Joseph’s definition of financial freedom
[7:22] The circumstances around Joseph’s shift to multi-family
[11:11] The long road to Joseph’s first deal
[14:02] The results of Joseph’s first deal
[15:58] How Joseph handled concurrently working full-time
[16:53] How Joseph secured a second deal within six months
[18:11] How Joseph financed his second deal
[22:31] How Joseph’s second deal is performing
[24:33] How Joseph stuck with the multi-family plan despite his initial frustration
[26:30] The snowball effect of multi-family deals
[28:17] Joseph’s plans for the future
[30:08] What Joseph would tell his younger self
[30:51] Joseph’s advice for hesitant multi-family investors
Connect with Joseph Gozlan
Direct download: MB_078__Never_Give_Up_To_Quit_Your_Job_With_Real_Estate__With_Joseph_Gozlan.mp3
Category:Commercial Real Estate -- posted at: 4:04pm EDT
Tue, 5 September 2017
Most of the time, careful planning is a good thing. It is smart to develop a strategy first, and then take action on your goals. But the one situation in which it might be better to just put the blinders on and jump in? Multi-family real estate investment.
Pili and Jason Yarusi have a background in running restaurants and bars as well as experience in the family construction business. So when they were starting a family of their own and wanted to get out of the grind, real estate investment seemed like the perfect fit. They started doing capital-intensive flips and had success with out-of-state duplexes, but soon realized that flipping was a job that would have to be repeated time and time again. If the Yarusis wanted to achieve cashflow, apartment building investing was the way to go.
After doing a lot of reading and reaching out to mentors with multi-family experience, Pili and Jason found a quality property management company in Kentucky, and made use of the firm’s expertise to find a deal that fit their criteria. The Yarusis sold investors on their background of success in other businesses, and raised the $800K necessary to close on a 94-unit property. Today they share how their willingness to jump in without a clearly defined strategy paid off in the end and how they overcame the mindset challenges around multi-family investing. Listen in for Pili and Jason’s advice about reaching out to mentors and learning as you go.
[1:39] The circumstances that motivated Pili and Jason to invest in real estate
[4:25] Pili and Jason’s start in-house flipping
[7:40] Why Pili and Jason shifted to multi-family
[10:49] How the Yarusis moved forward once the decision to do multi-family was made
[12:50] The mindset challenges around multi-family
[14:09] How to overcome mindset challenges
[16:28] The hurdle of raising capital
[18:24] How Pili and Jason chose the Kentucky market
[21:58] The Yarusi’s outlook when it was time to sign the contract
[23:36] How much capital Pili and Jason raised for their first multi-family deal
[25:27] How the 94-unit property is performing
[26:45] The lessons Pili and Jason learned in their first multi-family deal
[28:34] What’s next for the Yarusis
[29:56] Pili and Jason’s advice for aspiring apartment building investors
Connect with Pili and Jason Yarusi
Email Jason at email@example.com
Email Pili at firstname.lastname@example.org
Direct download: MB_077__How_We_Took_Down_Our_First_Multifamily_Deal_94-units__With_Pili__Jason_Yarusi.mp3
Category:Commercial Real Estate -- posted at: 2:04pm EDT
Thu, 24 August 2017
All roads lead to multi-family. It seems that no matter how you get your start in real estate, the vast majority of investors come to the same conclusion: For passive, everlasting cashflow, multi-family is the way to go.
Jack Bosch came to the United States from Germany in 1997 to finish his college degree. He worked in the corporate world for several years, but soon found that it did not afford the life he wanted. His visa was dependent upon keeping his job, yet the company that was struggling, so Jack was inspired to start a company of his own.
Attracted to real estate because of its cashflow potential, Jack got his start flipping land. Over the course of three years, he developed a system that allowed him to do 3,800-plus deals, and he achieved financial freedom in a short time. Jack eventually moved into the single-family space, developing a portfolio of rental properties, and he finally graduated to multi-family in the last year. Today he shares the specifics of his transition to multi-family, his experience raising money for the first time, and his advice for investors who dismiss apartment buildings as an advanced strategy. Listen as he explains why he would have liked to get into multi-family sooner, and how you can get started in the space with no prior experience.
[2:12] How Jack got involved in real estate
[4:00] Jack’s start in flipping land
[5:36] How Jack defines a transaction
[8:47] Jack’s transition to multi-family
[12:52] Jack’s advice around the multi-family learning curve
[18:10] Jack’s experience with raising money
[21:01] Jack’s conclusions about multi-family
[22:48] Why Jack would have liked to start multi-family sooner
[28:20] Jack’s advice for investors who dismiss multi-family as an advanced strategy
[30:26] What Jack is excited about
Connect with Jack
Direct download: MB_076__Multifamily__Forever_Cash_Flow__With_Jack_Bosch.mp3
Category:Commercial Real Estate -- posted at: 3:32pm EDT
Tue, 22 August 2017
MB 075: How to Harness the Power of Crowdfunding Even If You're a Newbie - With Jilliene Helman, CEO of RealtyMogul
Yes, crowdfunding is out of reach for the average newbie syndicator. But if you’ve got a great deal and a willingness to hustle, it is possible to partner with a larger real estate company and take advantage of the capital available through crowdfunding. Platforms like Realty Mogul are looking for sponsors with a track record, so if you don’t have one—find someone who does.
Jilliene Helman is the CEO of Realty Mogul, the premiere online marketplace for real estate investing. The platform employs cutting-edge technology to connect its network of 130,000 registered investors looking for passive investments in commercial real estate with established real estate companies looking to acquire and operate commercial properties.
Realty Mogul is a marriage of Jilliene’s affinities for financial services and technology. She founded the company in 2013 to take advantage of the opportunities around crowdfunding afforded by the JOBS Act. Today she discusses why Realty Mogul chose to focus on the commercial space, the types of investments the platform offers, and the Realty Mogul definition of a good deal. Learn about the evolution of the crowdfunding industry, and heed Jilliene’s advice about partnering for aspiring syndicators.
[2:33] How the crowdfunding industry has evolved
[3:55] Why Realty Mogul chose to focus on the commercial space
[4:54] The types of investments Realty Mogul offers
[6:54] What Realty Mogul is looking for in a sponsor
[8:34] Jilliene’s advice for aspiring syndicators
[10:12] Jilliene’s guidance around partnering with a larger real estate company to employ crowdfunding
[11:47] What Realty Mogul defines as a good deal
[14:13] The requirements for passive investors on Realty Mogul
[15:28] The process of becoming a passive investor with Realty Mogul
[16:40] The benefits of working with Realty Mogul
[17:23] How Realty Mogul came to be
[18:22] Jilliene’s take on the future of crowdfunding
Connect with Jilliene
Direct download: MB_075_-_How_to_Harness_the_Power_of_Crowdfunding_Even_If_Youre_a_Newbie_-_With_Jilliene_Helman_CEO_of_RealtyMogul.mp3
Category:Commercial Real Estate -- posted at: 7:50pm EDT
Tue, 22 August 2017
What gives a 27-year-old with no experience in apartment building investing the audacity to swing for the fence?
Patrick Duffy grew up in Southern California before heading east for college. After graduating from Harvard in 2013, he returned to SoCal to work as a commercial real estate banker and later for a hedge fund, buying non-performing mortgages. He grew up around real estate, his family owning a multi-family property since the 1950’s, and he had always intended to invest in apartments—as soon as he had the money to do so.
Before long, Patrick was unhappy at his job, so he started reaching out to investors he had lent to in order to get clarity on how to analyze deals. Despite his lack of experience on the principal side of real estate, Patrick started studying LoopNet and set the goal of securing 100 units in two years. Eventually, he discovered Michael’s Deal Desk resource, and used the Syndicated Deal Analyzer to get feedback on a 69-unit property in Memphis. The deal met Michael’s criteria, and the two forged a partnership.
Today Patrick explains the steps he took to research the Memphis market, how he made use of the act ‘as if’ approach to secure a letter of intent, and his best advice for working with investors. Listen in as he shares the mindset that helped him swing for the fence on a multi-family deal and how doing his first deal has changed the game for Patrick, as he aspires to reach 1,000 units in the next 12 months.
[3:30] How Patrick landed on the partnering strategy to finance multi-family
[6:04] How Patrick found the Memphis deal
[9:23] Why Patrick continued to move forward
[11:13] Michael’s partnership with Patrick
[13:18] Patrick’s experience working with investors
[15:23] The closing process for the Memphis 69-unit deal
[16:25] The impact of doing your first deal
[19:50] Why size isn’t a factor for Patrick
[21:35] Patrick’s advice for aspiring multi-family investors
Connect with Patrick
Direct download: MB_074_-_How_I_Did_My_First_69-Unit_Deal_Without_Experience_or_My_Own_Money__With_Patrick_Duffy.mp3
Category:general -- posted at: 7:30pm EDT
Fri, 18 August 2017
Landing your first multi-family deal is much like pushing over the first in a series of dominoes: The second and third deals fall in rapid succession. In most cases, it is possible to replace your income one to three years from the moment you decide to change your life.
Brad Tacia’s story adheres to this Law of the First Deal. He was an engineer by trade, working for an auto parts manufacturer in Detroit. Though he survived the recession, Brad knew that he needed a backup plan. He began his foray into real estate with single-family homes, using a portion of his 401(k) to facilitate the investment.
Brad reached a turning point when he realized just how much of his daughter’s life he was missing. To speed up the process of achieving financial freedom, Brad and his wife used the Dave Ramsey program to cut their expenses and pay off their house—which allowed them to fund their first multi-family deal with a home equity loan. Brad’s second and third deals followed quickly on the heels of the first, and in two years, he had replaced his income. Brad quit his W-2 job, and now he controls 160 apartment units total. Listen as he explains his experience with Dave Ramsey’s Financial Peace University, how he funded his first three multi-family deals, and his secrets to becoming financially free in just two years. He also shares his knowledge around syndicating deals as well as the details of how his life has changed, making every day feel like Saturday!
[4:26] Brad’s motivation to try real estate
[6:36] What precipitated Brad’s shift to multi-family
[7:16] How Brad funded his first multi-family deal
[8:14] Brad’s experience with Financial Peace University
[11:23] Brad’s next two multi-family deals
[13:23] How Brad developed the confidence to do his first multi-family deal
[14:01] Brad’s advice around funding multi-family deals
[15:19] Brad’s experience syndicating deals
[16:41] Brad’s secrets to becoming financially free in two years
[18:00] The significance of the first deal
[19:27] How Brad found time to do real estate on the side while working a demanding job
[20:20] How Brad’s life has changed
[22:30] Brad’s perfect day
[23:22] How Brad wants to be remembered
[24:34] Brad’s best advice for aspiring multi-family investors
Connect with Brad
The Millionaire Real Estate Investor by Gary Keller
Direct download: MB_073_-_How_Every_Day_Can_Feel_Like_Saturday_-_With_Brad_Tacia.mp3
Category:Commercial Real Estate -- posted at: 1:44pm EDT
Fri, 4 August 2017
What is stopping you from achieving financial freedom through apartment building investing? Is it because you don’t have single-family experience? Are you intimidated by the perceived complexity of the multi-family space? Or maybe you think you don’t have enough money to consider pursuing multi-family deals? Today’s guest has encountered and overcome all of these limiting beliefs, and today he reveals how to get out of your own way and get on the road to financial freedom.
Tyler Sheff is the founder of CashFlowGuys.com and the host of the Cash Flow Guys Podcast. He was making six figures as a merchant mariner when he and his wife took a hard look at their future. Tyler didn’t want to wait until he was 65 to enjoy life, so he took compensatory time and gave himself six months see if real estate investing would prove viable and provide the cashflow necessary to attain financial freedom.
In just 11 months, Tyler had replaced his income. At that point, he had invested in 26 units in Florida and Tennessee – using none of his own money. Now he leverages his 17 years of experience to demystify the real estate investing space, encouraging others to focus on cashflow and take massive action toward their goals. Today, Tyler shares his journey, explaining how he landed his first few multi-family deals, why single-family experience is unnecessary in the apartment building space, and how he employs relationship marketing to raise capital. Listen in as he unpacks each of the limiting beliefs that held him back and reveals how to overcome ‘analysis paralysis’ and move forward with your dreams of building passive income and escaping the rat race.
[2:55] How Tyler got started in real estate
[4:32] Why Tyler returned to real estate
[8:08] Tyler’s experience as a landlord
[9:10] Tyler’s first multi-family deal
[12:12] Tyler’s next two deals
[17:22] The limiting beliefs that held Tyler back
[19:22] Why single-family experience is unnecessary to enter the multi-family space
[21:49] How Tyler achieved multi-family deals without using any of his own money
[23:05] How Tyler leveraged ‘relationship marketing’ to raise capital
[24:44] Why the complexity of multi-family is a limiting belief
[25:50] The importance of Tyler’s first deal
[26:56] How Tyler’s life has changed
[29:51] Tyler’s perfect day
[30:27] Tyler’s advice for aspiring multi-family investors
[31:02] How Tyler wants to be remembered
Connect with Tyler
Direct download: MB_072_-_How_to_Overcome_The_Most_Crippling_Limiting_Beliefs__with_Tyler_Sheff.mp3
Category:Commercial Real Estate -- posted at: 3:59pm EDT
Tue, 25 July 2017
More money, more problems.
One of the major pain points for high net worth individuals involves taxes. Today’s guest was hit hard with a $497K bill in 2010, and that’s when he decided stop giving his money away to the IRS and start investing in multi-family properties!
David Zook is a wildly successful entrepreneur and experienced investor in the multi-family space who has syndicated over $50M worth of real estate in his career. His portfolio includes 3,000 apartment units in several states as well as Ambergris Caye, the largest resort in Belize. David has entered the ATM market as well, capitalizing on another investment that offers tax-advantage cashflow.
David is also a sought-after speaker and published author who has presented at venues such as the International Business Conference, The Jason Hartman Real Estate Mastermind, and The Cash Flow Wealth Summit. He credits his success to working with world-class teams, and today he discusses why it’s patriotic to take advantage of available tax breaks, the AHA moment that initiated his transition from passive investor to real estate syndicator, and how multi-family investing has evolved over time. Whether you’re a high net worth individual looking to reduce your tab with the IRS or a syndicator looking to raise money, this episode is for you. Listen in as David shares how he leverages paper loss and cost segregation to reduce his tax bill from $475K to nearly zero.
[5:43] Why it’s patriotic to take advantage of tax breaks
[7:27] The tax benefits associated with multi-family investing
[10:49] How to exercise cost segregation
[13:07] David’s advice around choosing syndicator (as a passive investor)
[15:08] How David transitioned from passive investor to syndicator
[18:02] David’s approach to passive investing
[20:24] How David raised money for his first deals as a syndicator
[24:51] How David structures a deal
[26:28] How multi-family investing has evolved
[29:52] David’s ATM investing opportunity
Connect with David
Direct download: MB_071_-_Why_its_Patriotic_to_NOT_Pay_Taxes__with_David_Zook.mp3
Category:Commercial Real Estate -- posted at: 2:16pm EDT
Tue, 25 July 2017
Real estate is no longer a local game, and smart apartment building investors have properties all over the country. The tricky part is finding a way to consolidate the data so that you can manage and analyze your portfolio all in one place. Is it possible to streamline the important property management processes when your investments are operated by different property managers using different software in different states? Today’s guest says, ‘Yes, you can,’ as she reveals how to remotely self-manage your real estate portfolio.
Dana Dunford is a real estate management specialist, licensed agent, and technology guru out of San Francisco. After earning her MBA from Harvard Business School in 2015, Dana co-founded Hemlane, a technology-enabled property management solution designed to support real estate investors in the remote management of their rentals. As CEO of the company, Dana understands that the best investments may not be in your backyard, and she is on a mission to provide investors with a single platform that consolidates and manages properties using intelligent software, virtual maintenance coordinators and local support.
Dana’s impressive resume includes positions at Apple, where she was a part of the worldwide financial planning and analysis team, and tech startup Nest, which was acquired by Google for $3.2 billion in 2014. Today she shares her expertise with the Apartment Building Investing audience, discussing the role of a property manager and the pros and cons of self-management. She covers the metrics you should be tracking as an owner, the benefits of property management software, and the processes that should be centralized across your portfolio. If you have between two and fifty properties, this is a must-listen interview that uncovers the tools available to help you remotely manage your investments.
[3:25] The costliest expense in the property management space
[4:39] How to avoid the expenses associated with turnover
[6:28] The pros and cons of self-management vs. hiring a property manager
[8:23] The role of a property manager
[10:17] Dana’s guidance around making property managers ‘offensive players’
[11:41] Dana’s advice about interacting with your property manager
[13:18] The benefits of property management software
[14:28] The metrics owners should be tracking
[16:17] The processes an owner should prioritize
[17:39] How to incentivize tenants to pay on time
[19:34] The processes Dana recommends centralizing across your portfolio
[21:15] How to consolidate your records
[24:45] The free tools Dana recommends for managing your portfolio
[25:59] The fundamentals of Hemlane software
Connect with Dana
Direct download: MB_070_-_How_to_Remotely_Self-Manage_Your_Real_Estate_Portfolio__With_Dana_Dunford.mp3
Category:Commercial Real Estate -- posted at: 1:59pm EDT
Tue, 18 July 2017
‘When others are fearful, be greedy. When others are greedy, be fearful.’ Today’s guest took Warren Buffet’s advice to heart, moving past her fear and reaching out to investors at the top of their game to ask for guidance as she shifted from single-family fix and flips to 300-plus unit multi-family properties. Her bigger-is-better philosophy has led to a love of investing in sizable unloved properties and performing a full-gut rehab to revitalize the property – and the community.
Kira Golden is the CEO of Direct Source Wealth, a real estate development company out of Denver that does direct deals and serves as a platform for new and experienced investors. By the time she was 18, Kira had holdings in both the real estate and stock market. After graduating Magna Cum Laude from George Washington University with a master’s in public administration, Kira worked as a financial advisor at Edward Jones until she was in a position to live off her investment income. She currently owns properties in Washington, Colorado, Arizona, Illinois, Ohio, Puerto Rico and France.
Kira is on a mission to bring high-quality deals to Main Street, providing clients with the financial freedom she has earned through investment in real estate. Today she shares how she financed her first deals, what prompted her shift from single- to multi-family properties, and why she reaches out to big name investors at the top of their game. Listen in to understand how to choose the right equity partners and why Kira recommends investing in apartments – the sooner the better!
[2:25] How Kira got her start in real estate investing
[5:13] How Kira financed her first deals
[9:14] Kira’s minimalist philosophy
[10:56] Kira’s shift from single- to multi-family investments
[15:07] Kira’s intent behind reaching out to potential partners
[16:56] Kira’s first 30-unit multi-family deal
[19:19] How Kira attracts investors
[23:12] What Kira learned from reaching out to sought-after investors
[27:34] The importance of alignment in selecting an equity partner
[30:47] How Kira would approach raising money for 30-unit deal without equity partner
[31:56] Kira’s 315-unit full gut rehab
[34:16] Why Kira wishes she had done multi-family sooner
[37:21] Kira’s advice for aspiring real estate investors
[39:15] What’s next for Kira and Direct Source Wealth
Connect with Kira
Direct download: MB_068_-_Why_Bigger_is_Better_With_Multifamily_Investing_-_With_Kara_Golden.mp3
Category:Commercial Real Estate -- posted at: 6:06pm EDT
Fri, 14 July 2017
The vast majority of women perform a number of unpaid jobs every day, from childcare to housekeeping to food preparation. There is simply no time to pick up another job! But today’s guest argues that there is a way for women to generate substantial income that doesn’t require a lot of time and energy – apartment building investing.
Whitney Nicely believes that every woman should control her own destiny by investing in real estate as soon and as much as possible. Born into a family of entrepreneurs, Whitney was inspired to invest in real estate as a creative outlet that would allow her the freedom to be her own boss. She flipped her first house in 2009, and has since grown her portfolio to include 17 residential houses, 19 apartment units and seven chunks of vacant land across east Tennessee.
Whitney’s philosophy is to take action first and figure it out as she goes. Her bold, ‘throw spaghetti at the wall’ strategy has proven successful, and now she teaches women how to invest in real estate with no money, no credit and no bank necessary. Listen in as she shares why she prefers apartments to single family homes, how she landed and financed her multi-family properties, and her advice around building a reputation as a local real estate authority. Learn why women need to start building a portfolio – today!
[2:27] How Whitney got her start in real estate
[5:38] Whitney’s experience with single family homes
[6:38] Why Whitney quit the family business to do real estate
[7:29] The advantages of apartments (vs. single family homes)
[12:30] How Whitney landed her three multi-family units
[15:58] The cashflow on Whitney’s current multi-family properties
[16:52] The other expenses associated with owning apartments
[17:51] What’s next for Whitney
[19:04] Whitney’s early real estate misstep
[21:50] Whitney’s philosophy around taking action
[24:27] How Whitney chooses people to do deals with
[25:45] What sets Whitney apart from other investors
[28:14] Why Whitney believes all women need a real estate portfolio
[30:03] How Whitney’s family reacted to her real estate investments
[32:34] Whitney’s advice for aspiring apartment building investors
Connect with Whitney
Whitney Buys Houses on Facebook
Direct download: MB_069_-_Why_Women_Need_a_Real_Estate_Portfolio__With_Whitney_Nicely.mp3
Category:Commercial Real Estate -- posted at: 1:23pm EDT
Fri, 16 June 2017
Most of us feel uncomfortable asking people for money, yet as apartment building investors we must raise capital to operate a successful business. Today’s guest argues that he doesn’t ask people for money, but offers opportunities to collaborate on projects that are a good fit for individual investors.
Victor Menasce is managing partner of US Real Estate Partners LP and author of the book Magnetic Capital: How to Raise All the Money You Need for ANY Worthy Venture. He spent the first 25 years of his career in high tech, achieving success as a microprocessor designer. But the frequent travel was a strain, and Victor realized that the days of building wealth in that industry were over. In search of a career that would have a meaningful impact, in an industry known for creating wealth, he started investing in real estate as a side hustle. His first projects involved medium-term executive rentals for parliamentary and embassy staff in Ottawa as well as local rent-to-own transactions. Victor then expanded to US markets and transitioned to real estate full-time.
His current specialty involves building new apartments in an infill urban setting across multiple domestic and international markets. Leveraging the skills around raising capital he developed in the tech industry, Victor has become an expert in helping investors divert their money from high-risk equity markets into safe multi-family real estate assets. Today Victor details the five key elements of raising capital and explains why some people repel the very money they’re trying to raise. Listen and learn from a developer who has raised more than $300 million in his nine-year real estate career!
[7:01] Why Victor views real estate as a team sport
[7:47] The most difficult part of Victor’s transition from full-time job to real estate
[10:00] Why some repel money when they’re trying to raise it
[11:17] The first key element of raising capital – RELATIONSHIPS
[15:18] The second key element of raising capital – TRACK RECORD
[17:42] The third key element of raising capital – TRUST
[20:09] The fourth key element of raising capital – COMPELLING OPPORTUNITY
[25:40] The fifth key element of raising capital – ALIGN PROJECT GOALS WITH INVESTOR
[30:55] The biggest mistake entrepreneurs make
[33:28] How to invest like a billionaire, even if you’re not
[35:36] Victor’s advice for people hesitant to ask for money
Connect with Victor
Direct download: MB_067_-_The_5_Key_Elements_of_Raising_Capital_-_With_Victor_Menasce.mp3
Category:Commercial Real Estate -- posted at: 7:20pm EDT
Mon, 15 May 2017
As apartment building investors, we realize that off-market deals are the holy grail of our business. But we also know that you have to build relationships with industry insiders in order to access those deals on multifamily properties, and it can be difficult to cold call asset managers, hedge fund operators and associates at private equity firms. If only there was a social media platform that afforded access to a database of professionals and their contact information… Hey, wait a minute! That platform does exist, and today’s guest is here to share how you can use LinkedIn to find off-market properties and earn massive profits.
Jason Lucchesi is known in real estate as the #1 off-market property strategist. He got his start in the industry with Countrywide Home Loans in 2002, serving in the mortgage origination space. In his five years there, he worked his way from account executive to branch manager, but Jason had the good sense to jump ship at the end of 2007 and shift into full-time real estate investment. He has closed REOs, short sales, bulk packages, non-performing notes, and both residential and commercial off-market properties.
Today Jason shares the step-by-step process of connecting with real estate professionals, from initiating a dialogue on LinkedIn to closing the off-market deal. Listen and learn the ‘bank language’ you need to know to communicate with asset managers and land distressed assets for 20-30% of fair market value.
[3:01] The types of investments Jason pursues
[6:37] How Jason got into commercial investments
[8:36] Jason’s first multifamily deal
[10:47] How Jason employs LinkedIn to find off-market deals
[14:05] How Jason initiates contact with asset managers via LinkedIn
[18:18] The script Jason uses in dialogue with asset managers
[19:20] How Jason works with asset managers once connection is established
[24:14] The property information typically provided by asset managers
[27:00] The key strategy that has worked best for Jason
Connect with Jason
Right Flipping Now by Jason Lucchesi
Direct download: MB_066_-_Find_Off-Market_Multifamily_Deals_-_With_Jason_Lucchesi.mp3
Category:Commercial Real Estate -- posted at: 7:03pm EDT
Tue, 9 May 2017
Paul Moore had just gotten his real estate license when he wrote his first book, The Definitive Guide to Smith Mountain Lake Real Estate. Though he didn’t have a track record as an agent, the book made things happen for him, attracting people, money and listings. The work he put into researching the book established him as a professional and propelled his career forward in a big way.
We all have a story to tell, and most of us have considered writing a book to share that story. Being a published author pays huge dividends in terms of credibility, and it’s something you can use as leverage in making deals… Especially if you’re new to the world of investing in apartment buildings. But how in the world do you get started? And how do you carve out the time to sit down and write an entire book?
Nick Raithel is the creator of 7-Hour Book, a proven system that can give you clarity in terms of what you want to write about, assist you in developing an outline, and even partner with you in the writing itself if you don’t have the time to devote to the project. He is on a mission to help real estate investors get the recognition they deserve and attract new business and investment opportunities. Today Nick discusses how publishing a book aligns with the objectives of a real estate investor, the benefits of the ‘thud factor,’ and the components of a book launch. Listen in to learn the real-world results you could enjoy from being a published author!
[1:43] How publishing a book aligns with the objectives of a real estate investor
[4:34] The benefits of the ‘thud factor’
[5:40] The most common mistake made by aspiring writers
[7:38] The real-world results of publishing a book
[9:19] An example of the 7-Hour Book Process
[12:40] How to develop an idea for a book
[14:18] How 7-Hour Book is different from a ghostwriting service
[16:21] How to measure those results
[18:04] The elements of a book launch and the associated marketing
[19:51] How the Book Boost provides the ‘kick in the pants’ you need to get started
Connect with Nick
Mon, 8 May 2017
As apartment building investors, we understand that brokers control the vast majority of real estate deals – and we know that having a ‘in’ with brokers is the only way to score those elusive off-market deals. But if you are just getting started, how exactly do you build rapport with the brokers and partner to source off-market deals?
After graduating from the University of North Texas with a degree in finance, Michael Becker spent nearly ten years at Wells Fargo. During the last five years of his stint in commercial real estate banking, he focused exclusively on multi-family properties and became the number one loan producer for his division three years running. But Michael recognized that he was on the wrong side of every deal, and he made the switch to apartment building investment in June of 2014. In just three years, he has scaled the business, Strategic Property Investment (SPI) Advisory from zero to 4,300 units. Michael also hosts Old Capital, a podcast aimed at multifamily real estate investors.
Today Michael offers sage advice regarding how to cultivate a team, establish credibility and land your first deal. He also shares how to meet brokers face-to-face and establish relationships so that they will partner with you on off-market deals, as well as strategies for sourcing pocket listings. Listen and learn how to provide value to brokers so that you’re top-of-mind when deals come available.
[3:29] How Michael was able to scale from zero to 4,000 units in three years
[6:18] Why Michael feels so strongly about utilizing brokers to find deals
[7:45] Michael’s advice for newbies on how to build relationships with brokers
[9:10] How Michael scores the elusive pocket listing
[10:58] Michael’s tips for new investors to be taken seriously and land their first deal
[13:40] Michael’s recommendations for networking events
[16:29] How to maintain a solid working relationship with brokers
[19:00] How to source off-market deals
[25:48] Other ways to find off-market deals
Connect with Michael
Direct download: MB_064_-_The_Right_Way_to_Work_with_Brokers_to_Find_Off-Market_Deals__With_Michael_Becker.mp3
Category:Commercial Real Estate -- posted at: 6:51pm EDT
Tue, 2 May 2017
Society teaches us that hard work leads to a great life, so we build a career first and try to fit life into what is left over. But perhaps there is a better approach… What if we could design our lives first, and then fit business into what was left?
Steve Cook began his career in the restaurant business, but failed miserably. Success came with a move to real estate investing, and three years in he had $7M in assets. Flipping houses allowed him to accumulate a great deal of wealth, and his financial advisors were committed to helping him accrue even more. Steve was doing everything right, but he wondered when he would get to enjoy it. The business had become his life, and he was compromising everything that was important to him.
Committed to simplify his life and break free from lenders, Steve made radical changes. He stopped borrowing, downsized to reduce expenses, and pared down his work hours so that he could be the husband and father he wanted to be. In the book Lifeonaire, Steve Cook outlines his approach to the pursuit of an abundant life, and today he shares that philosophy with us. Listen in and learn how to shift your mindset, overcome cultural conditioning, and pursue the life you want right now!
[7:09] The message of Steve’s book, Lifeonaire
[8:24] Steve’s moment of realization
[13:02] How Steve’s life went from simple to complicated in a three-year span
[13:58] How Steve simplified his life
[20:35] The shift in Steve’s approach to real estate investment education
[21:46] How to reduce your working hours
[24:52] Steve’s guidance for living the life you want NOW
[26:17] The definition of ‘lifeonaire’ and how the term was conceived
[29:34] Why more people don’t subscribe to the lifeonaire philosophy
[31:05] The greatest challenge for aspiring lifeonaires
[32:35] How long it takes to become a lifeonaire
Connect with Steve
Lifeonaire by Steve Cook and Shaun McCloskey
Direct download: MB_063_-_Changing_Your_Financial_Life_as_a_Lifeonair_-_With_Steve_Cook.mp3
Category:Commercial Real Estate -- posted at: 4:54pm EDT
Fri, 28 April 2017
Perhaps you are hesitant to invest in real estate at the moment because of predictions of an imminent crash. But when is the ‘right time’ to invest? What if I told you that it is always a good time to invest, as long as you make intelligent choices?
Jason Hartman is the president of Platinum Properties Investor Network, a firm specializing in financial planning for real estate investors, and Hartman Media, a production company through which he hosts 20 podcasts that address business, investments and living well. A self-made multimillionaire and serial entrepreneur, Jason has founded 21 companies and initiated several thousand real estate transactions.
Jason obtained his real estate license his freshman year of college and worked part-time for Century 21, learning about the investment side of the industry and developing his own portfolio. He eventually came to purchase and expand his own traditional real estate firm, and negotiated its sale to Coldwell Banker. In anticipation of that check, Jason sought investment advice from Wall Street – and uncovered a need for a financial planning firm-specific to real estate investors. So he created it himself! He is passionate about educating and assisting investors in acquiring pragmatic investments nationwide. Today Jason explains why the media characterization of ‘housing’ is an oversimplification and outlines the different types of markets. Listen and learn how diversification can offer a solid ROI despite market volatility.
[4:12] The volatile nature of cyclical real estate markets
[6:00] Jason’s take on Wall Street financial planners
[6:53] What Jason learned in researching different real estate markets around the US
[8:56] Why Jason founded a financial planning firm for real estate investors
[11:22] The misleading nature of media coverage of ‘real estate’ or ‘housing’
[12:54] The differences among linear, cyclical and hybrid markets
[16:04] Jason’s advice to investors with much equity who live in cyclical markets
[18:30] Why Jason cautions investors against cheap properties
Connect with Jason
Direct download: MB_062_-_Is_Now_the_Right_Time_to_Invest_in_Real_Estate_-With_Jason_Hartman.mp3
Category:Commercial Real Estate -- posted at: 12:17pm EDT
Sun, 23 April 2017
You can lead a horse to water, but you can’t make him drink. Or can you?
You likely know exactly what you need to do to succeed in the world of apartment building investment, but perhaps you aren’t making forward progress toward your aspirations. Today’s guest explores the psychology of what holds us back and offers actionable techniques to help you take control of your life! Rob Dial is a performance coach and speaker who has inspired tens of thousands of people – from college students to NFL superstars – to develop a clear purpose and then establish the habits that lead to success. He believes that leaders are not born, but groomed, and he is committed to teaching others how to become the best version of themselves.
Rob’s forte is understanding the human brain and how to hack it to get past the fears and limiting beliefs that are holding you back. Through his work with MWFMotivation, he seeks to help you dig deep and discover what you were put on earth to do. Today he describes the design of the human brain and explains how to employ that understanding to get clear on the ‘pain’ you are running from as well as the ‘pleasure’ you are working toward. Get ready to be inspired as Rob coaches you to shift your mindset and truly show up in the world.
[6:38] Rob’s spin on the ‘lead a horse to water’ analogy
[9:10] How our brains work
[10:07] Why people don’t take action – despite knowing what they need to do
[10:27] How to shift your focus to the ‘why’ behind your goal
[16:34] How to motivate yourself to take massive action (when life is not that bad)
[18:48] Why you must dig deeper than money as a source of motivation
[20:10] How a focus on the ‘pleasure’ you are moving toward keeps you driven
[25:18] How to identify and explore your personal ‘pleasure’ and ‘pain’
[30:43] Why Rob invested in a coach at age 20, despite the expense
[37:25] Rob’s best advice to motivate action
Connect with Rob
Direct download: MB_061_-_Why_We_Dont_Take_Action_And_What_to_Do_About_It__With_Rob_Dial.mp3
Category:Commercial Real Estate -- posted at: 12:34pm EDT
Fri, 14 April 2017
What goes up must come down, and a number of experts predict an economic recession in the not-so-distant future. What are the current economic trends you need to understand? What would a recession mean for the real estate market? And how can y ou protect yourself from a potential crash?
I recently returned from the Real Estate Guys 15th Annual Summit at Sea, where I had the opportunity to meet several big players in the real estate industry and experience three key ‘aha moments’ surrounding the power of networking, the unsustainable economic trends initiated by our political system, and the spiritual aspect of being an investor.
The Summit at Sea was life-altering for me, and I am eager to share my new insight. Listen in as I examine the current economic landscape and how existing trends may affect the real estate industry down the road. Learn what steps you can take to not only survive a would-be crash, but thrive and prosper despite it.
[1:56] The value of networking via conferences, etc.
[3:55] The significance of understanding the political landscape
[4:50] Unsustainable global trends
[5:07] The fallout from the Federal Reserve bailout in 2008
[5:42] Exponential trends in growth of debt
[6:35] How to respond to this bleak macroeconomic overview
[8:34] Doug Duncan’s favorable perspective of the real estate market
[10:00] Robert Kiyosaki’s approach to the four quadrants
[11:43] The mindsets associated with each of the four quadrants
Second Chance for Your Money, Your Life and Our World by Robert Kiyosaki
Prosper: How to Prepare for the Future and Create a World Worth Inheriting by Chris Martenson and Adam Taggart
The Creature from Jekyll Island: A Second Look at the Federal Reserve by G. Edward Griffin
Direct download: MB_060_-_How_to_Survive_and_Thrive_the_Next_Crash.mp3
Category:Commercial Real Estate -- posted at: 6:29pm EDT
Tue, 4 April 2017
Obtaining funding can be one of the more difficult aspects of real estate investing. How do you go about finding the right lender? My guest today is making the process quicker and easier by marrying technology and real estate to create an online marketplace where investors and lenders can connect.
Ross Hamilton is the CEO of connectedinvestors.com, the world’s largest network of real estate investors. He began investing in real estate at the age of 19, and soon realized that the more connections he had in the real estate investing world, the more lucrative business could be. He leveraged his understanding of technology to create what he calls “LinkedIn for real estate investors” and became wildly successful during the property value upswing. Ross then had the foresight to diversify prior to the crash, and even thrived during the crash by investing in real estate in military towns.
Ross continues to grow his portfolio as well as his network of real estate investors, as he seeks to change the way money flows through the industry. Listen in as he explains how the Connected Investors platform pairs lenders with investors, how to spot a fake lender, and how technology will continue to affect the future of financing via crowdfunding portals and social networks.
[3:22] The key to success in real estate
[3:38] The evolution of funding real estate investments
[6:54] How the Connected Investors platform connects investors with lenders
[8:35] The success of CiX
[10:10] The types of debt supplied by CiX
[12:43] How CiX helps investors with the equity component of funding
[14:54] The prevalence of scammers posing as lenders
[18:21] How to qualify lenders and identify scammers
[20:02 ] The future of financing
[22:43] Ross’s advice for investors struggling to find funding
Connect with Ross
Direct download: MB_059_-_The_Future_of_Real_Estate_Financing_-_With_Ross_Hamilton.mp3
Category:Commercial Real Estate -- posted at: 9:18pm EDT
Wed, 15 February 2017
When someone decides to invest in an asset, they are essentially investing in a prediction of the future. All investments carry this element of risk, but there are some assets that are much riskier than others. Paul Moore, believes that he has found the perfect investment that offers relatively low risk with high rewards. It may not come as a shock to listeners that this investment is multifamily investing!
Listen in to find out how Paul became a real estate investor, and how the “recipe” for the perfect Investment is allowing him to support charitable causes throughout the world!
[04:26] Paul’s first experience with multifamily investing
[06:47] Investments to last a lifetime
[09:54] The changing trends in American home ownership
[11:52] The 3 drivers behind low home ownership
[16:33] Multifamily investing return vs. risk
[20:45] The recipe for the perfect investment
[29:02] Giving back through investing
Connect with Paul
Podcast: How to Lose Money
Direct download: MB_058_-_Outlook_Makes_Multifamily_the_Best_Real_Estate_Investment_-_With_Paul_Moore.mp3
Category:Commercial Real Estate -- posted at: 12:11pm EDT
Fri, 3 February 2017
Finding the right business partner can be as important as finding the right investment opportunity. A great partner can bring time, money, expertise, and often prove vital to achieving your first MF deal.
Someone who knows all about first deals and partnerships is Joe Fairless, my guest on this week’s show. When I first spoke to Joe on the podcast, back in episode 10, he had just finished closing on a phenomenal 168 unit apartment building for his very first deal. Now, 2 years later, Joe has used the momentum of the first deal to propel himself headfirst into the world of real estate investing, with some incredible results.
Listen as Joe tells us what he’s been up to since we last spoke, including focusing his strengths, utilizing partnerships, and massively growing his real estate portfolio since that vital first deal.
[2:52] What Joe has done since his first deal
[3:36] How Joe achieved such rapid growth
[5:46] Joe’s key strengths
[9:59] Smart partnering
[16:50] Using co-sponsors
[21:14] Joe’s tips for partnerships
[21:45 ] The risks of partnerships
[27:05] Joe’s goals for 2017
Connect with Joe
Email: Info@joefairless.com (Email Joe for free money raising spreadsheet tool)
Previous podcast episode with Joe: themichaelblank.com/session10/
Direct download: MB_057__3_Ways_to_Partner_To_Achieve_Massive_Success_in_MF_Investing__With_Joe_Fairless.mp3
Category:Commercial Real Estate -- posted at: 1:30pm EDT
Sat, 28 January 2017
If you’ve listened to the show before, you’ve probably heard me talk about the power of the first deal. Your first multifamily deal will be the smallest, the longest, and the hardest deal you will ever have to make. However, the power of the first deal is that the second and third, which follow in rapid succession, are almost automatic.
Jordan Madewell, my guest on this week's show, knows all about the power of the first deal. Closing on his first multifamily, a 23-unit complex, with his business partner in 2016, Jordan is on the fast-track to completing his next two deals, which he hopes will help him reach his 2017 goal of 100 units. I can’t wait to see how he gets on in the next 12 months, but in the meantime, let’s listen as Jordan talks about his drive, how he got started in real estate, and most importantly, how he nailed that all-important first deal.
[02:53] Jordan’s start in real estate investing
[04:05] The moment Jordan realized that he needed to be investing in multifamily
[06:40] Jordan’s goal and his “why”
[14:23] How Jordan built a network of investors
[15:20] Jordan’s first deal.
[16:30] Raising the money for the first deal
[26:47] What’s next for Jordan
[36:00] The power of the first deal
[45:28] Jordan’s advice for new real estate investors
Connect with Jordan
The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges
Direct download: MB_056_-_Do_Whatever_It_Takes_To_Do_Your_First_Multifamily_Deal_-_With_Jordan_Madewell.mp3
Category:Commercial Real Estate -- posted at: 5:07pm EDT
Mon, 16 January 2017
Five years ago Brad Tacia was just a regular guy, working a 70 hour week as an engineer to support his family. In 2011 he began to invest in real estate. After making the switch from single family to multifamily investing, Brad managed to replace his income in just 2 years.In this episode I talk to Brad about the amazing progress he has made over the last 2 years, investigating the reasoning and
In this episode I talk to Brad about the amazing progress he has made over the last 2 years, investigating the reasoning and mindset behind his life-changing actions, as well as the habits he has developed to achieve his goals. From his first multifamily deal, to the syndication of a second complex, the results of Brad’s determination and decision-making can serve to inspire anyone interested in multifamily real estate investing.
[03:05] Brad’s backstory: from 9 - 5 to real estate.
[04:56] The thought processes behind real estate investing.
[07:23] Thinking about replacing income with real estate.
[9:09] ‘The idea was to buy one house per year’.
[11:45] Making the move to multifamily investing.
[14:14] Brad’s first multifamily deal.
[19:50 ] A change in comfort zone and a shift in goals.
[25:25] The ability to make deals directly impacts the scalability of the business.
[26:04] Brad’s motivation for doing what he does
[27:21 ] Why Brad keeps doing new deals even though he’s met his financial goals
[35:35] Real estate investing alongside a full-time job.
[36:25] Changing your habits and finding your why.
[42:26] What Brad would tell his younger self.
Connect with Brad
Cell Phone: 248-881-4570 (call or text)
The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges
Direct download: MB_055_-_How_I_Replaced_My_Income_With_Multifamily_in_2_Years_-_With_Brad_Tacia.mp3
Category:Commercial Real Estate -- posted at: 10:35pm EDT
Mon, 16 January 2017
Kevin Bupp is an entrepreneur, philanthropist, and real estate expert. Since 2010 Kevin has been focussing his attention on the mobile home park market, the results of which he has happily agreed to share with me today. Throughout his entrepreneurial journey, Kevin has always returned to real estate, a market he calls ‘one of the easiest ways to create true wealth’. Now that he has made the leap to mobile home parks, his only wish is that he had done it sooner!
Listen now to hear my chat with Kevin, including; how he dealt with the economic recession, his chance move to mobile home park investing, and most importantly his best and transferable techniques to close those important deals.
[03:17] Kevin's real estate journey.
[4:48] The recession and a two-year hiatus.
[05:51] ‘The biggest small project I ever worked on’.
[10:07] Raising money for his first deal.
[11:47] Why Kevin decided to go back into real estate
[14:17] Lessons learnt from the recession.
[19:17] So what’s so great about mobile home parks?
[22:20] Park management and scalability.
[24:53] Where Kevin finds his on-site managers.
[26:25] Finding new deals in the mobile home park market.
[30:07] Techniques and tips for finding owner information.
[37:40] What would Kevin tell his younger self?
[41:25] What Kevin is most excited about right now
Connect With Kevin
Direct download: MB_054_-_Getting_Started_with_Mobile_Home_Parks_-_With_Kevin_Bupp.mp3
Category:Commercial Real Estate -- posted at: 12:07pm EDT