Passive Investing from Left Field: Recent Episodes
Jim Pfeifer & Left Field Investors
We are building a community of investors who are interested in acquiring real assets that produce real cash flow. Our community is focused on networking and education to help people invest passively and think differently. We will be interviewing syndication sponsors, passive investors and others who will share their passive investing journey as they pursue financial freedom.
Operating multifamily properties like a business can yield incredible results. In this episode, Ashley Wilson provides valuable insights into operating multifamily properties like a business rather than just as real estate assets. Her focus on controlling operations, renovating units quickly, and analyzing marketing strategies demonstrates how a business mindset can maximize returns.
Ashley Wilson is the founder and CEO of Bar Down Investments, co-founder of Apartment Addicts, and co-founder of HouseItLook. She is a bestselling author, a regular contributor to Rent Magazine, and has been involved in over $210 million in multifamily transactions managing over 1,500 units.
Here are some power takeaways from today’s conversation:
[03:09] Ashley’s introduction to real estate
[05:22] Why multifamily is the star of the show
[08:47] Maximizing success through controlled factors
[15:08] The importance of time and internal rate of return in investments
[19:07] Why renovate as many units as possible
[26:53] Unveiling the power of business fundamentals for success
[31:41] The problem with rate caps and strike rates
Episode Highlights:
[05:22] The Resilience and Benefits of Multifamily Real Estate
When it comes to real estate investing, multifamily properties undoubtedly take the spotlight. Not only because of their solid fundamentals, they’re also found to be the most recession-resistant asset class within the industry. Time and again, historical data have demonstrated their remarkable performance. The ability to exercise control over these assets is a key advantage that sets them apart. Additionally, they offer attractive tax benefits, which were previously a concern in the single-family space. Multifamily properties have consistently proven their resilience and have become a reliable investment option for the future. With their strong track record, advantageous fundamentals, and tax incentives, they shine as the true stars of the real estate market.
[08:47] Maximizing Success through Controlled Factors
In order to increase the likelihood of success, it is essential to have control over various aspects. While external factors like interest rates and cap rates may be beyond our control, there are numerous elements that we can influence. For instance, we can dictate the day-to-day operations of a property, manage our marketing efforts, maintain adequate reserves, allocate project spending, and determine the return on investment based on chosen renovations. However, achieving success in these areas requires meticulous attention to detail and the dedication of hardworking individuals. Effective communication and streamlined process flows are key components that fall within our realm of control. By focusing on these controllable factors, we can optimize our chances of achieving favorable outcomes.
[26:53] Unveiling the Power of Business Fundamentals for Success
This is because the fundamentals of the business remain consistent across different sectors. By focusing on these core principles, you will be astounded by the impact you can make. Keep honing those fundamental skills and watch your success soar.
This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.
Resources Mentioned:
Bar Down Investments
Apartment Addicts
HouseItLook
Connect with Ashley Wilson on LinkedIn
Instagram: @badashinvestor
Podcast Recommendation:
Drunk Real Estate Podcast
How do you maximize your real estate investment returns from a tax perspective? Join today’s episode as Tomas Castelli discusses various tax strategies for passive real estate investors. Passive losses can offset both earned and passive income, while proper depreciation strategies upfront can generate larger tax losses.Listen in as Tomas explains the three main tax buckets, the concept of bonus depreciation, and why Lazy 1031 is the way to go for passive investors.
Tomas Castelli
Tomas Castelli is a CPA and tax strategist at The Real Estate CPA. He helps real estate investors minimize their tax burden and maximize their returns. He has equity positions in several real estate syndications and funds. Tomas is the co-host of the Tax Smart REI podcast and an active member of the Left Field Investors community. With his expertise in tax strategies for passive investors, Tomas advises investors on how to make the most of their investments from a tax perspective.
Here are some power takeaways from today’s conversation:
[00:00] Three tax buckets: earned income, portfolio income, passive income
[06:43] Passive losses can offset earned and passive income
[11:26] Cost segregation studies break property into components with different depreciation schedules
[14:21] Rapidly depreciating assets in the first year through bonus depreciation
[17:44] Depreciation recapture taxes the depreciation amount when you sell the asset
[26:06] How Lazy 1031 exchange uses passive losses from new investments to offset gains from sold investments
[31:00] Claiming rental losses against earned income through a real estate professional status
[41:18] Are travel expenses to conferences and properties deductible for passive investors?
[44:36] Check your capital account and box 2 (passive income/loss) on your K-1 for accuracy
Episode Highlights:
[06:43] The Three Tax Buckets
The three main tax buckets are:
1. Earned income - This includes income from employment like salaries, wages, commissions, bonuses, and self-employment income. Earned income is taxed at higher rates up to 37% for federal income tax. It is difficult to offset or reduce taxes on earned income.
2. Portfolio income - This includes income from investments like interest, dividends, capital gains from stocks, bonds, and mutual funds. Losses from investments in this bucket can only offset gains within the same bucket.
3. Passive income - This includes income from passive activities like real estate rentals and limited partnership investments. Losses from passive activities can offset both passive income and earned income. This provides more flexibility and opportunities to reduce taxes.
[26:06] The Lazy 1031 Exchange
The "lazy 1031 exchange" is a tax strategy where passive losses from new investments are used to offset capital gains from sold investments, without a formal 1031 exchange. By investing in a new passive opportunity after selling an investment for a gain, depreciation, and losses from the new investment can be used to minimize taxes owed. This provides more flexibility than a formal 1031 exchange and requires a pipeline of passive investments generating losses to offset gains from sold investments.
[34:54] Maximizing Depreciation with Bonus Depreciation
With bonus depreciation, most of the five, seven, and 15-year property is frontloaded in the first year. Without it, assets depreciate over several years which results in lesser benefits if the asset is held for a shorter period like three years.
This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.
Resources Mentioned:
Tax Smart REI Podcast
Podcast Recommendation:
Acquisitions Anonymous Podcast
Want to make informed investment decisions? Join us as we unpack the secrets behind risk-adjusted returns with Paul Shannon. He talks about real estate investing in today's uncertain market, how he vets sponsors, looks for risk-adjusted returns, and the benefits of both active and passive investing.
Paul Shannon is the principal of Red Hawk Real Estate and fund manager of InvestWise Collective, a partnership between Red Hawk Real Estate and Left Field Investors. Since transitioning to real estate investing full-time in 2019, Paul has acquired over 200 residential units by recycling his equity and through joint ventures. A licensed realtor, Paul has experience in acquisitions, raising capital, and property management.
Here are some power takeaways from today’s conversation:
[02:00] Why Paul slowed down in investing
[11:10] Emerging Trends in Multifamily Financing: Longer Holds, Lower Returns
[18:00] How active investing makes you a better passive investor
[21:00] Understanding risk-adjusted returns
[26:45] About InvestWise Collective
[30:50] Tips for vetting sponsors and investors
[41:50] Being selective with higher quality deals
Episode Highlights:
[11:10] Emerging Trends in Multifamily Financing: Longer Holds, Lower Returns
Multifamily operators are shifting towards agency debt or fixed-rate products with stepped-down prepay penalties to avoid costly fees when selling before maturity. This change means longer hold periods, lower leverage, and loan-to-value ratios in the 50s to 60s. Lenders require properties to generate income 1.2 to 1.3 times higher than the debt service, leading to decreased loan proceeds and reduced returns. Despite this, there are still attractive investment opportunities, but investors must consider more than just high IRRs and cash-on-cash returns.
[21:00] Understanding Risk-Adjusted Returns: Maximizing Returns While Managing Risk in Investments
‘Risk-adjusted returns’ refer to the amount of return an investment generates relative to the amount of risk involved in producing that return. An investment with a higher risk-adjusted return means it generates more return for the amount of risk taken. Paul explains risk-adjusted returns by comparing potential returns from real estate investments to risk-free alternatives like high-yield savings accounts. The returns from real estate deals involve more risk due to factors like rising interest rates, cap rate compression, and reliance on sponsor pro formas. However, they must offer a high enough return to justify that additional risk compared to the guaranteed return from a savings account. Paul looks at variables like yield on cost, IRR, and cash flow to determine if a deal offers a sufficient risk-adjusted return for his investors.
[30:50] Tips for Vetting Sponsors and Investors
Paul places the most emphasis on trust, ensuring the sponsor will act as a fiduciary for investors' capital. He examines the sponsor's track record but notes that a longer track record does not necessarily mean better, focusing more on how the sponsor navigated past downturns. Paul analyzes the sponsor's financial spreadsheets in depth to understand their assumptions and whether they are conservative or aggressive. Rather than just looking at headline returns, he focuses on yield on cost, IRR partitioning and cash flows to determine the deal's risk level. Finally, Paul looks at the debt terms the sponsor is using to ensure it matches their business plan and exit strategy to minimize prepayment penalties.
This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.
Resources Mentioned:
Redhawk Real Estate
InvestWise Collective
Email: paulshannon@investwisecollective.com
Podcast Recommendation:
Old Capital Podcast
In this episode, Joe Williams, co-founder of Keller Williams, shares how KW became the largest real estate company in the U.S by flipping the traditional brokerage model to become agent-focused. Joe offers valuable lessons from his successful career, including timing the market and planning for success. He also discusses his current focus on land funds as an investment vehicle, leveraging Keller Williams' network to source deals. This episode provides a wealth of insights that can be applied beyond the real estate industry.
About Joe Williams
Although he is best known as the co-founder of Keller Williams Realty, Joe Williams was licensed at 19 and sold homes throughout his college years. Joe received his BBA in 1976 from the University of Texas in Real Estate, which at the time was a new degree program. He has over 43 years experience working with the local community and realtors. Joe, along with his team, has extensive experience in Residential & Commercial Brokerage, as well as Building & Residential Development.
Here are some power takeaways from today’s conversation:
[03:10] Starting his real estate career at age 19 and working his way up
[11:28] The importance of having the right partners
[13:28] Becoming agent-focused with their mission statement and profit share program
[23:07] VDPR: The key elements for achieving success
[27:35] Real estate is learnable
[37:00] Lessons in real estate investing and the importance of timing the market
[53:24] Joe’s current focus on land funds and future plans
Episode Highlights:
[23:07] VDPR: The Key Elements for Achieving Success
VDPR stands for Vision, Discipline, Planning, and Results. The concept is that in order to achieve any goal, you must first have a clear vision of what you want to attain, and then acquire the discipline necessary to work towards that goal. This requires planning and organization, such as making lists and setting clear markers for progress. Ultimately, the results will follow as a direct outcome of the effort put in. Clarity of purpose and a focused mindset are key to achieving success, as Earl Nightingale famously said, "you will become what you think about."
[27:35] Real Estate is Learnable
Real estate values are primarily driven by public data such as supply and demand, job availability, city policies, growth patterns, schools, hospitals, and utility locations, which can all be researched and analyzed. This is what makes real estate an attractive investment vehicle - it's something that can be learned and understood. However, having an expert on your side who can interpret these variables is invaluable. Real estate professionals deal with these factors daily and are equipped to predict future value. In comparison to stocks, real estate is much easier to evaluate.
[29:14] The Importance of Timing
Timing is essential in real estate, outweighing even the significance of location. Market cycles, which are rarely linear due to human behavior, greatly impact supply and demand for multi-family properties. Joe states that there is no such thing as a bad market, only buyer's or seller's markets. Understanding your place in the cycle is crucial since waiting for the top can lead to missed opportunities. A wise investor once said, "I've always sold too soon," emphasizing the importance of being proactive.
This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.
Resources Mentioned:
https://www.joewilliams.land/
Email: joe@joewilliams.land
Royal Legal Solutions
www.spartan-investors.com
Just saving money and putting it in your 401k is not enough anymore. There has to be something else. That's why we have this community. Today, joining us is Clint Harris from Nomad Capital. Clint believes that passive real estate is the key to retirement, as saving alone is no longer sufficient. Clint also stresses the importance of financial independence combined with location and time independence, for a purpose-driven life. The more cash flow you have, the more days off you’re buying, and this hastens retirement or getting out of a W-2 job!
About Clint Harris
Clint Harris, Investor Relations & Capital Raising at Nomad, has 15 years of experience in medical device sales. He's a business innovator who owns a successful property management company and multifamily real estate portfolio. Clint believes that financial independence, combined with location and time independence, leads to independence of purpose. He joined Nomad to share this vision with investors.
Here are some power takeaways from today’s conversation:
[09:32] Achieving financial independence through investing in real estate
[11:28] The value of asset class conversion
[16:34] Increasing value through asset class conversion
[19:12] Diversifying investments to reduce risk
[24:55] “Buying days off” through syndication deals
[32:39] Tips for vetting sponsors as an LP
[35:00] What to look for in sponsors
[39:12] Nomad Capital’s aim to double investors' money within 5 years
Episode Highlights:
[22:52] “Buying Days Off” Through Syndication Deals
Syndication allows investors, limited partners, and general partners to put their capital to work while others use their time and expertise. Investing in a deal means buying days off from working for the rest of your life and getting closer to achieving financial freedom. This asset class provides real value beyond just a five-year investment, and our goal is to build up assets that we can hold onto with a select group of investors and eventually reclaim our time.
[29:48] Location, Time, and Financial Independence: The Key to a Purpose-Driven Life
Achieving financial independence alone is simply not enough. You need all three elements: location independence, time independence, and financial independence. With these combined, you can lead a purpose-driven life and do whatever your heart desires, whether it's charity work, attending church, skiing, building, traveling, or raising your kids. However, if you're only financially independent but stuck in one location, you'll be forced to spend most of your time in front of a screen every day, which isn't the nomadic lifestyle you desire. At Nomad, we value this core belief and aim to keep it as a vital part of our culture, just as you have developed an amazing culture with Left Field Investors. Our goal is to always prioritize this value above everything else.
[36:48] Tips for Vetting Sponsors as an LP
Clear communication is essential in meeting your investors' needs as a real estate investor. Ideally, you should receive monthly updates that include examples of both positive and negative news and how they were presented. It's important to stay informed at all times. With insider knowledge of the industry, you may also want to know if the company is vertically integrated, handling everything from property sourcing to capital raising in-house. This information can help you make more informed investment decisions.
This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.
Resources Mentioned:
Email Clint: clint@nomadcapital.us
Website: Nomad Capital
Podcast Recommendation:
BiggerPockets Podcast
AJ Osborne's Self Storage Income Podcast
This trailer is for The LFI Spotlight - a podcast dedicated to empowering a vibrant community of investors who are passionate about acquiring real assets that generate reliable cash flow through passive investing. Our host, Chad Ackerman, brings his extensive banking background and expertise in data analytics to the world of real estate investing.
The LFI Spotlight has moved to it's own podcast feed! Please be sure to Subscribe to the podcast so you don't miss an episode! This link will take you to the email we sent out which has the links to the different podcast players.
Podcast reviews in Apple (or any other player) are extremely helpful, so please give The LFI Spotlight a 5 star review - and while you are there, if you haven't reviewed Passive Investing from Left Field please review that as well!
Adopt a cashflow passive income mentality and invest in assets that generate regular, predictable cash flow. In this episode, we sit down with cash flow expert Chris Miles as he discusses the value of asset-backed investments and the importance of holding cash for strategic investment decisions. After transitioning from financial advising to real estate investing, Chris got to retire at 28.
About Chris Miles
Chris Miles is a cash flow expert and the “anti-financial” advisor. Through his company Money Ripples, he works with clients to become financially independent and significantly increase their cash flow. Chris is also the host of the Money Ripples podcast.
Here are some power takeaways from today’s conversation:
[01:50] Growing with a scarcity mindset
[04:16] How he got into financial advising
[06:59] How Chris retired at 28 because of real estate investing
[10:16] The accumulation theory and financial institutions
[12:30] The FIRE Movement vs. the cashflow passive income mentality
[15:42] The value in asset-backed investment
[18:47] Why you shouldn’t bank on values going up
[21:12] What you need to know when investing in oil
[24:25] The value of holding cash today
[31:35] When investing in insurance makes sense
[35:33] Tips for finding quality operators
Episode Highlights:
[12:30] The FIRE Movement vs. The Cashflow Passive Income Mentality
The FIRE (Financial Independence, Retire Early) movement has gained significant popularity in recent years, focusing on accumulating a certain amount of wealth and living off a small percentage of it each year. However, this model has been debunked by various simulations that suggest a withdrawal rate of 3% or less, rather than the commonly suggested 4%. Living on 3% of a million-dollar portfolio amounts to a lifestyle below the poverty line, which is not what individuals envision when they think about financial independence. On the other hand, a cashflow passive income mentality focuses on investing in assets that generate regular, stable, and predictable cash flow. By investing in turnkey rentals, apartment syndications, and oil and gas royalties, for example, individuals can create a steady stream of passive income that can significantly improve their quality of life.
[15:42] The Value in Asset-Backed Investment
Asset-backed investments like real estate classes are less volatile than stocks. The S&P 500's yield average over the last 30 years is lower than expected at around 7.7%. Diversification in the stock market can be illusory due to a few dominant players causing fluctuations. Real estate investments offer lower risks and higher returns, making them a promising alternative investment with long-term growth potential.
[20:25] The Value of Holding Cash Today
In 2022, there was a prevalent belief that holding cash was a poor financial decision due to the risk of inflation. However, when the masses say one thing, it is often wise to do the opposite. While real estate and stock markets may be subject to fluctuations, cash can provide stability in uncertain times. If banks tighten their lending practices and quantitative tightening occurs, those who have cash on hand may have an advantage. While other investors may have their capital locked up in assets, cash holders have more flexibility and freedom to invest in opportunities as they arise. Thus, holding cash can be a strategic decision, particularly when other forms of investment are perceived to be high-risk or overpriced. In short, cash is still king or queen in uncertain times.
This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.
Resources Mentioned:
Money Ripples
Money Ripples podcast
Learn more about Rise48 Equity's multifamily investments and schedule a call with their CEO Zach Haptonstall at rise48equity.com/invest.
Podcast Recommendation:
- https://www.edmylett.com/podcast
Real estate investing can be a profitable and exciting venture, but it can also be complex and daunting for those who are new to the industry. In this episode, Joe Berko, CEO of Astor Realty Capital, shares his journey into the world of finance and commercial real estate. Managing assets like hotels, Joe shares his thoughts on the current state of the real estate market and where he sees it heading in the future. He also delves into how he evaluates potential operating partners and what traits he looks for in them. Find out some investment strategies he is pursuing in the current market.
Joe Berko
Joe Berko is a nationally recognized, inspirational entrepreneur with over 25 years of success predicated on profitable investments, ethics, and generosity. A great believer in giving back, Joe serves on the board of several non-profit organizations and has been invited to speak at professional conferences.
Here are some power takeaways from today’s conversation:
[02:57] How Jim got interested in finance and real estate
[06:40] Building Berko & Associates
[09:08] Your name goes a long way.
[12:03] What to look for in an operator: Looking at the market and asset classes
[15:56] Resilient markets: The case of Scottsdale, Arizona
[22:28] The triple C’s in finding an operating partner
[25:06] How to evaluate an operating partner
Episode Highlights:
[22:28] The Three Cs of Decision Making: Collateral, Credit, and Character
- Collateral. This refers to the love and understanding of real estate, including its location and dynamics. Analyze to ensure you’re comfortable with all aspects of the investment.
- Credit. While you work with many experienced individuals, not all of them have the financial resources to support the investment. Look for partners who have the ability to bring in financing, including the right banks, to ensure that you can move forward with confidence. Prioritize working with partners who are willing to invest their own money in the deal, as this demonstrates a strong commitment to its success.
- Character. Real estate deals can be derailed by human error. It’s crucial to work with partners who have integrity, honesty, and a strong work ethic. There is no formula or spreadsheet for character, but it is essential for long-term success in any venture.
[25:06] How to Evaluate an Operating Partner
When it comes to finding the right operating partner, there are some key factors to consider. First and foremost, you need to feel comfortable with your partner. It's not just about their years of experience or the size of their team. You need to look for someone with strong character, who is committed to the success of the venture.
One way to evaluate a potential partner is to pay attention to their behavior when things start to go wrong. This is when the true character of a person is revealed. Look for someone who can stay calm under pressure, who is willing to take responsibility for their mistakes, and who is proactive in finding solutions. Intuition is also an important factor to consider. Trust your gut when making decisions about who to work with. Pay close attention to details, listen carefully, and be sensitive to any red flags that may arise. Ultimately, the goal is to find an operating partner who shares your values and is committed to your success. With the right partner by your side, you can achieve great things together.
This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.
Resources Mentioned:
Astor Realty Capital (Contact their Investor Relations Manager at laura@astorrealtycapital.com)
Download Aspen Funds' free economic report at https://aspenfunds.us/lfi
Join us for part two of our podcast interview with renowned economist Dr. Peter Linneman, principal of Linneman Associates. Get ready for more valuable insights on topics like the under-supply of single-family housing and its impact on the market, the relationship between high prices, profits, and supply, and what the Federal Reserve is doing about inflation. If you missed part one, be sure to check it out for even more great insights from Peter. Let's dive in!
About Dr. Peter Linneman
Dr. Peter Linneman holds both master's and doctorate degrees in economics from the University of Chicago. He is the principal of Linneman Associates. For nearly four decades, he has provided strategic and financial advice to leading corporations through Linneman Associates. He provides M&A, analysis, market studies, feasibility analysis to many leading US international companies. In addition, he serves as an advisor to and a board member of several public and private companies. Peter was a professor of real estate at the Wharton School of Business at the University of Pennsylvania, from 1979 until his retirement in 2011. He's an accomplished author having written books, articles, and of course, The Linneman Letter, a quarterly letter for commercial real estate investors.
Here are some power takeaways from today’s conversation:
[02:52] Why the economy is not overheated
[04:07] The relationship between high prices, profits, and supply
[05:52] How the pandemic skewered the numbers
[10:18] How much are rents going up for apartments?
[15:26] What’s the Fed going to do about inflation?
[17:05] The importance of gradual interest rate increases
[19:44] The Impact of Bank Failures
[29:45] Why the market for
[39:55] The importance of asking for help
Episode Highlights:
[04:07] The Relationship Between High Prices, Profits, and Supply
Peter explains that high prices encourage suppliers to increase production, which was demonstrated in 2021-2022 when record profits led to more supply and lower prices. Despite this, the Federal Reserve has chosen to suppress demand even though it is below trend, rather than allowing it to increase and spurring more supply. This decision's long-term implications remain unknown. Instead of reducing demand, the solution to an underperforming economy is to increase supply.
[17:05] The Importance of Gradual Interest Rate Increases
In December 2020, it was clear that interest rates needed to be raised from zero, according to Peter. However, the key was to do so slowly and without rushing. Unfortunately, it took another year and a quarter for the Federal Reserve to initiate the rate increases.
Peter argues that if the Fed had started raising rates gradually earlier, both the markets and the banks could have adjusted accordingly. It is comparable to adjusting to a typhoon versus the same amount of rain spread out over a two-year period. Gradual rate increases would have allowed for a smoother adjustment period instead of sudden shocks to the economic system.
[31:14] The Under Supply of Single Family Housing and Its Impact on the Market
There's a significant three and a half percent under-supply of single-family housing, which becomes significant when considering the high demand for this type of housing. The shortfall is comparable to a shortage of Toyotas in an economy where only two types of cars exist. This creates an opportunity for multifamily properties to benefit. However, due to NIMBYISM and pent-up demand, this shortfall is unlikely to disappear soon. Therefore, it's important to address the housing under-supply with innovative solutions to meet market demands.
This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.
Resources Mentioned:
Linneman Associates
Let’s dive into the world of economics and real estate with Dr. Peter Linneman, an accomplished economist and advisor to leading corporations. He shares his insights on finding great mentors, learning as a skill, and navigating the current state of the US economy. With years of experience in providing M&A, analysis, market studies, and feasibility analyses to various companies, Dr. Linneman is highly regarded in the industry and has been serving as an adviser and board member of several public and private companies. Get ready to learn from his wealth of knowledge and expertise in this exciting episode.
About Dr. Peter Linneman
Dr. Peter Linneman holds both master's and doctorate degrees in economics from the University of Chicago. He is the principal of Linneman Associates. For nearly four decades, he has provided strategic and financial advice to leading corporations through Linneman Associates. He provides M&A, analysis, market studies, feasibility analysis to many leading US international companies. In addition, he serves as an advisor to and a board member of several public and private companies. Peter was a professor of real estate at the Wharton School of Business at the University of Pennsylvania, from 1979 until his retirement in 2011. He's an accomplished author having written books, articles, and of course, The Linneman Letter, a quarterly letter for commercial real estate investors.
Here are some power takeaways from today’s conversation:
[02:17] Introduction of Peter Linneman
[04:07] Early beginnings from a blue-collar background to the real estate industry
[05:31] Opportunities that arose from networking and doing good work
[12:13] Importance of being a good student and knowing how to learn
[16:58] The current state of the economy
[21:44] The worst thing facing the economy
[23:50] The Fed’s crazy approach to the economy
Episode Highlights:
[10:07] How to Find Great Mentors
Start by identifying people who have skills and experience that you can learn from. Look for individuals who are willing to share their knowledge and expertise with you. Once you've identified potential mentors, show them that you are serious and committed to learning by demonstrating your work ethic and willingness to put in the effort. Don't be afraid to ask for their guidance and advice. Remember, learning is a skill that requires curiosity and a willingness to seek out new information. Build a relationship with your mentor by communicating regularly and showing appreciation for their time and expertise.
[17:48] The Current State of the Economy
Currently, the US economy is in a state of recovery from the pandemic. Real GDP is at about 2.5% of pre-pandemic levels, indicating that we have grown over the last three years, which is a positive sign. However, employment is still below pre-pandemic levels, and the Fed's attempt to get rid of employment is misguided.
On the bright side, around two-thirds of homeowners have mortgages with an interest rate that is two to three percentage points lower than the historic norm, giving them more financial freedom. The travel and tourism industry is almost back to pre-pandemic levels, but there is still room for growth in areas such as automobile consumption.
Despite concerns about the amount of debt rolling over, only 25% of corporate and real estate debt rolls over in the next three years, giving businesses some cushion and margin. Overall, there are good things happening in the economy, such as the normalization of supply chains.
[21:44] The Worst Thing Facing the Economy
The biggest challenge facing the economy is the Fed's belief that their job is to create a recession. This approach is dangerous, and they tend to overreact and be late in their responses. While we have weathered the shutdown of the economy for a year and a half, the current challenge posed by the Fed is something we can overcome.
This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.
Resources Mentioned:
Linneman Associates
This is the second part of the two-part podcast interview with Bob Fraser. And we pivot today's discussion into the megatrends: demographics, oil & gas, inflation, and interest rates. He discusses the trends he’s seeing and specifically identifies what asset classes will help us capitalize on that trend.
About Bob Fraser
Bob Fraser is a finance and technology executive, with over 20 years of experience, who is passionate about educating others about alternative investments. In 2012, he co-founded Aspen Funds, a fund management company focused on alternative investments, where he is responsible for financial management, portfolio modeling, as well as systems and processes.
Here are some power takeaways from today’s conversation:
[00:00] Introduction
[02:58] The megatrends in demographics
[07:16] The industrial boom in the United States
[15:14] How investors can capitalize on the energy issue
[18:52] How LPs get comfortable with oil and gas
[24:15] Inflation is coming due to demographics
[27:21] Opportunities in the distressed debt space
[32:56] Economic forecasts for the second half of 2023
Episode Highlights:
[04:08] The Megatrends in Demographics
China's population is set to decline drastically in the next 75 years, leading to significant changes in its economy and workforce. This will result in a surplus of infrastructure that may no longer be necessary, and a severe impact on the country's manufacturing power due to the loss of two-thirds of its workforce. The demographic shift will have implications for other countries in Asia, Russia, and Italy, and will significantly alter the world's economic landscape, making it challenging for China to remain an industrial power in the future.
[15:14] Non-operated Working Interests: How Investors Can Capitalize on the Energy Issue
One way to make money is through property rights and royalty interests. However, many people park their money in this way, which can result in low returns. To generate substantial profits, it's essential to have a deep understanding of where the development is going and make smart investments.
Non-operated working interests entail owning leases, paying royalties to landowners, and giving them to other operators such as large oil companies who bring resources and expertise to the table. Revenues are shared between parties, leading to high returns on investment without direct management of operations. Despite the minimal risks associated with drilling due to advanced technology and well-understood geology, many investors are hesitant to take advantage of this opportunity, making it a cost-effective option for those willing to take the risk.
[27:21] Opportunities in the Distressed Debt Space
If you’re looking for investment opportunities, consider distressed debt as a potential option. Despite the risks involved, this type of investment can bring high returns for those willing to take calculated risks. The current market conditions may present opportunities to purchase debt at a discounted rate, with the hope of selling it back at a profit when the company recovers. It's time to overcome your fears and dip your toe into this potentially lucrative area. Keep an eye out for upcoming opportunities that may arise as the market changes.
This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.
Resources Mentioned:
Invest Like a Billionaire podcast
Aspen Funds
When it comes to investing, timing can make or break your portfolio's success. While efficiency and maximizing returns are essential goals, aligning your investments with the market's ebbs and flows is crucial. In this episode, Bob Fraser discusses the importance of timing your investments and why development can be a lower-risk strategy. He also shares insights on navigating the multifamily market and emphasizes the need for due diligence and trust in the investment business.
About Bob Fraser
Bob Fraser is a finance and technology executive, with over 20 years of experience, who is passionate about educating others about alternative investments. In 2012, he co-founded Aspen Funds, a fund management company focused on alternative investments, where he is responsible for financial management, portfolio modeling, as well as systems and processes.
Fraser is the co-host of the Invest Like a Billionaire podcast where he joins his son, Ben, and Aspen co-founder Jim Maffuccio, to dive into the world of alternative investments and speak with successful investors. The trio also discusses economic trends, including megatrends such as inflation, energy prices and deglobalization. The goal is to empower others looking to explore less volatile investment opportunities improving their portfolio’s performance and enabling them to become more financially secure.
Here are some power takeaways from today’s conversation:
[06:08] The shift from notes to other asset classes
[08:22] The importance of timing your investments
[14:14] What happens when interest rates go up
[16:13] Why invest in multifamily
[21:15] Why development is lower risk
[29:36] How an LP does due diligence
[32:47] Trust is everything in this business.
Episode Highlights:
[08:34] Navigating the Multifamily Market
The multifamily sector may experience some challenging years ahead. However, this doesn't signify the end of multifamily investments. Instead, it can be an excellent opportunity for buying. This serves as a reminder that as investors, we need to be prudent and thoughtful in our decision-making.
[10:49] The Importance of Timing Your Investments
Success is not only about gaining efficiency and maximizing returns but also aligning your investment timing correctly. Pursuing vertical integration to achieve a 10% efficiency might appear promising, but it won't yield results if you're losing 90% of your investment. Market fluctuations and economic changes necessitate keeping a close eye on market trends and making informed decisions based on prevailing circumstances. Timing is vital in investing, and getting it right can minimize risks, maximize returns, and identify opportunities for growth, expansion while avoiding costly mistakes.
[22:16] Why Development is a Lower Risk
Developing properties can be a lower-risk investment strategy as it allows for more control over the costs. Investing in a value-add property may seem like a good idea, but building new units can be more cost-effective and less risky. For example, in Northwest Arkansas, there are properties for sale at $195,000 per unit, but new units can be built for $130,000. Similarly, building industrial properties can be a smart investment, especially since it's currently difficult to buy industrial properties. Building cheaply, like an industrial warehouse, can yield high returns, especially if leased out. Even if it's not leased immediately, having a long runway for the property can help mitigate risks. Overall, development provides more control over costs and can be a safer investment strategy.
This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.
Resources Mentioned:
Invest Like a Billionaire podcast
Aspen Funds
It's the final week of our three-week Back-to-Basics program, and we're excited to bring you part two of our exclusive Masterclass on passive investing. In partnership with Tribevest and their Chief Storyteller, Julian McClurkin, we're here to share everything you need to know about building wealth through passive investing. Last week, we discussed the basics of passive investing, including what is a syndication, the pros and cons of passive syndications, and the crucial topic of how to choose a sponsor.
About Julian McClurkin
Julian McClurkin has literally traveled the world throughout his professional basketball career supporting and entertaining families and communities. Leveraging his engagement and relationship-building skills, Julian now joins Vision Realty, having built a diverse portfolio in real estate sales, investing, and renovations.
Here are some power takeaways from today’s conversation:
[07:11] The safest class to invest in
[09:48] How to pick a syndicator
[15:41] How to choose a deal you want to invest in
[17:30] How to analyze a deal
[23:28] The process of investing in a syndication
[26:39] What to do during the syndication process
[31:44] How tribes work and why they work
[40:27] The process of forming a tribe
Episode Highlights:
[07:11] What is the Safest Class to Invest In?
A common phrase you often hear is that everyone needs a place to live, right? So investing in multifamily apartments or mobile homes where there's always a demand for housing might seem like the safest option. However, it's important to remember that all of these are tangible assets, not just pieces of paper. Real estate and most of these assets generally carry less risk than other types of investments, but that doesn't mean there's no risk involved. For instance, resort investing, retail, and office space immediately after the pandemic may be riskier, while assisted living facilities may require waiting for demographic changes to make them profitable. It's crucial to conduct thorough research and invest in what you're comfortable with. Start there and then slowly branch out as you gain more knowledge and experience.
[09:48] How to Pick a Syndicator
When selecting a syndicator, it's crucial to align your investment strategy with the asset class you choose. If you're aiming for significant tax write-offs, investing in ATMs might be a good option, while others may not yield the same benefits. As you gain more knowledge and experience in the syndication space, you'll discover various asset classes that you didn't know about before, enabling you to select the right one for your current strategy. Always figure out what you're looking for and diversify your portfolio accordingly, but don't diversify for the sake of it. Ensure that you have a sound strategy in place for accumulating your assets and how they all work together to achieve your goals.
[17:30] Metrics to Look For When Evaluating a Deal
To analyze a deal, you need to ensure that you have the right sponsor, asset class, and market. These are the crucial aspects that can make or break an investment. At Left Field Investors, we've created a deal analyzer tool that considers 30 different metrics and turns green if the deal meets our parameters or red if it doesn't. Red flags don't necessarily mean you should avoid the deal, but they do generate questions that you should bring up with the sponsor. This is another way to assess their responsiveness and ability to provide detailed answers, which can indicate how well they will handle the investment. For example, if you get five red flags, contact the sponsor and ask questions. Pay attention to their response time and level of detail. A good sponsor will give you detailed answers and be responsive, which can help build trust and confidence in the deal. By focusing on the metrics of the deal analyzer and checking on the sponsor, you can effectively vet the deal and make an informed investment decision.
This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.
Resources Mentioned:
https://www.tribevest.com/partners/lf
Today, my guest was Peter Leung. Peter shared his story, which started early on by migrating to the US from China and being homeless for a short period of time. Peter became very focused and motivated by this, and it sparked his journey to the success he has today. He now consults with college students to educate them on traditional financing and alternative investing, with a focus on value investing. Listen in to hear his advice about how important it is to have cash flow, not just cash.
If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
If banks, marketers, and others have a plan for your money, you might as well have one. But what do you truly want your money to do for you? In this episode, Mark Willis, a Certified Financial Planner, joins Jim Pfeifer to share his insights on how you can benefit from your money if you can be your own bank! He explains how life insurance can shine with TGIF, which stands for Tax Advantages, Guarantees, Insurance, and Financing. Mark also explains how you can pivot from fear about life insurance because of familiarity bias. Listen to this conversation to learn more!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Cannabis has a seen a huge growth as an industry in the past couple of years. With the industry outlook looking particularly rosy, this space is something you might want to take a look at. In this episode, Jordan Tritt, the CEO and co-founder of the Panther Group, sheds light on the cannabis space and how he found himself investing in cannabis. The cannabis industry is a highly mature state at this point, so it’s worthwhile to learn more about it. To hear more of Jordan’s wisdom on investing in cannabis, tune in to this episode now!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Insurance is not often discussed when evaluating a real estate syndication, but it is critical to the success of your investment. It is important to ask the operator if they have business income insurance, umbrella insurance, and workers’ compensation insurance for the property and business. It is not enough to assume that the operator has these programs in place – this should be part of the investment evaluation. In today’s episode, Doug Levi shares his expert advice on these topics and what else we should be looking for from the insurance side of things. Doug is the Chief Encouragement Officer at Strategic Insurance Services and the author of Surviving the Insurance Jungle. Tune in with the master of risk management and learn how to evaluate the insurance program for your investments!
With inflation, rising interest rates, and a looming recession, how do you invest in this volatile time? Right now, fixed debt, stabilized deals and longer term holds where you can ride out the volatility might be options to investigate. But most importantly, you need to find partners or sponsors that align with your investing strategy and goals. If you are not aligned with the operator’s business plan and assumptions, you probably don’t want to move forward with them. It’s important to find the right deals and partners for you and to define your buy box. Join Jim Pfeifer as he talks to the President of the Roll Investment Group and full-time passive cash flow investor, Jeremy Roll. Listen in as they talk about the possibility of rent decreases, matching your investment philosophy with those who you are investing with and how to build long term investment relationships. There are many ways to invest, Jeremy encourages you to find what’s right and comfortable for you and then work to implement your strategy.
You can’t get rich overnight because it takes time to implement long-lasting strategies that lead to financial independence. The guest in today’s episode, Toby Mathis, founding partner of Anderson Advisors and author of Infinity Investing: How The Rich Get Richer And How You Can Do The Same, is a gifted storyteller and a clear-eyed researcher who spent years studying successful investors who built their wealth by creating a plan and sticking to it. Toby shares his build-wealth-slowly approach based on patient investing and money management practices to reach financial freedom. Most investors try to make money through activity, but most successful investors make money through inactivity. Tune in to hear Toby and Jim Pfeifer discuss these topics and much more in this episode on Passive Investing from Left Field Podcast!
To see the full show notes and transcript, click here.
Group RMC is a family business, a private partnership, and a co-investment company that focuses on underappreciated institutional-quality office properties across the US in non-gateway markets. In this episode, Evelyne Massa, the Vice President of Private Investment at Group RMC, sits with Jim Pfeifer and shares the investment philosophy and principles of Group RMC. The pandemic has made office properties over-looked asset class, but there are many opportunities for buyers with a long-term outlook. Evelyne discusses how Group RMC is taking advantage of the perception that office is a distressed asset class by staying consistent and implementing their long-term plan of buying and holding long term. Listen in to learn more about investing in office buildings, why now might be a great time to evaluate this asset class and where the future for office is heading.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
This week’s episode features a post from the Infielder Forum. The question was asked - How quickly did you dive in? The episode starts with that question and we discuss several replies to the Forum post. Jim Pfeifer also explains how he got his start in syndications and recommends, if you have a stable financial base - at some point, you need to take careful action! Tune in to hear how Jim and others got their start in passive syndication investing!
When investing in real estate in uncertain times such as these, it is important to look for inflation and recession resistant asset classes that can still produce acceptable returns during difficult economic conditions. Medical offices could be just such an asset class. If you are looking for a recession resistant asset class to generate passive income in any market, this is the podcast for you! In this episode, Jim Pfeifer shares an insightful conversation with Chief Executive Officer of Alliance Consolidated Group of Companies, LLC, Ben Reinberg as he talks about medical offices. Ben shares the four pillars of his company’s success and how serving people can serve you well. Tune in and get tips from the authority on medical office real estate acquisition and learn how you can be a successful passive investor even in difficult times.
Learn more about Passive Investing from our books:
https://leftfieldinvestors.com/books
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
This week’s episode features a post from the Infielder Forum. The question was asked - what is your passive investing plan? We had some good answers, but Infielder, Pat Wills, had a great explanation and diagram that he shared on the Forum. In this episode, Jim Pfeifer explains his strategy and plan and then Pat describes in detail how he structures his finances in order to maximize growth while making sure to have his expenses covered, emergency cash saved, and investing capital deployed. He also includes a category of "guilt free" spending so he and his wife can splurge on things they enjoy. Pat's diagram which we discuss in the episode is included below. Listen in as Jim and Pat talk about their passive investing plans!
Pat Wills diagram.
A self-directed IRA (SDIRA) gives you more control over your investments than a standard IRA and can help you diversify your investments within your retirement account. It allows you to invest in what you know best instead of forcing you to choose from a limited set of options determined by your IRA provider. Today’s guest, Juan Deshon, is an IRA specialist at Quest Trust Company is a self-described, certified nerd when it comes to IRA accounts. Juan explains the critical difference between a self-directed IRA and a solo 401(k), why you might need a custodian for your IRA, and how to find one that suits your needs. Join in to learn more about how you can make the most out of your retirement funds through a self-directed IRA!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
This week’s episode features Paul Miller. Paul is a pharmacist that is focusing on investing passively on the side to help develop his wealth. Paul discovered the passive investing industry and began reading up on the subject and listening to podcasts to educate himself and build his confidence to make his first investment. Paul is going to continue to focus on investing in a couple of deals a year while looking into new asset classes.
In real estate, there are many ways to generate cash flow and appreciation. Listen in as Jim Pfeifer talks with the Principal of Responsible Real Estate, Bryan Underwood as he shares the challenges of starting his own venture outside of his family’s business and expertise. Bryan discusses the importance of having the right partnerships, the initiative to learn from experienced mentors, and how accumulating knowledge can enable you to conquer an asset class entirely new to you. Check out this episode and be inspired by Bryan’s dedication to creating wealth while improving lives and building communities from the ground up.
Resources:
Learn more about Passive Investing from our books:
https://leftfieldinvestors.com/books
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Short-term rentals are an asset class many passive investors have not yet invested in. This emerging asset class presents unique opportunities, deal structures, and deal structures. Join Jim Pfeifer as he talks to serial entrepreneur, real estate developer, and experiential hospitality expert Richard Fertig about the asset class everyone is talking about, but few are investing in: short-term rentals. Richard is the Founder of Stomp Capital LLC and Short Term Rental University. Listen in as Richard talks about learning how to look for the best alternative assets, staying away from the crowded trades, and having the mindset that missing out is okay, but losing money is not. He explains how obstacles can be opportunities and by going through them, you can often maximize your success. Discover the short-term rentals asset class today!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
In this episode, Jim Pfeifer takes a topic from the Infielder Forum and shares it with the community. Jim talks about how to teach kids about investing and reveals insights from other Infielders. Tune in to hear how others have taught their kids to become investors!
Often, when people are working in lucrative occupations, they have a lot of income coming in, but they do not have control of their time, their income, or their life. That is how today’s guest, Peter Kim felt when he was working full time as a doctor. He saw examples of other successful professionals who had bought back their time through multiple income streams and he decided to learn from them. Today’s episode features physician, entrepreneur, investor, and founder & CEO of Passive Income MD, Peter Kim as he and Jim Pfeifer discuss how you can use multiple income streams to gain control of your life and earn back your time. Peter also talks about the benefits of having the right network and community to find quality operators and mitigate the risks of investing in passive real estate. Tune in to learn more about balancing your time practicing your profession on your terms while enjoying the financial freedom and security you get from passive income streams.
Being a successful business owner and entrepreneur can be exciting – until you realize you end up giving half of your money back to the government. Our guest today, Dave Zook, used his tax burden as motivation to find a better way and now has a proven track record of successful investments. In this episode, he shares how he turned his interest in mitigating his tax liability into a business helping other investors reduce their taxes through passive real estate syndications. Dave and Jim Pfeifer discuss many of the different asset classes Dave offers as investments through The Real Asset Investor – including the newest opportunity, car washes. Listen in to learn about new asset classes and how real estate can be a vehicle for tax protection.
This week’s episode features Anthony Humphress. Anthony has been active in the syndication industry for several years as a GP vs. an LP. Anthony shares how he started syndicating in the Lexington, Ky area working his way up from purchasing single-family homes. He plans to continue to expand his business, focusing on multifamily assets.
True wealth is having assets that produce cash flow - cash flow is they key to sustaining that wealth. In this episode of Passive Investing from Left Field, Paul Moore, the founder of Wellings Capital, joins Jim Pfeifer to share his secrets on how you can keep your wealth growing by investing in cash flowing assets. Paul also shares his strategies for creating wealth and explains the difference between speculation and investing. He also talks about how you can vet sponsors by following the principles from Brian Burke’s book, Hands-Off Investors. Listen to this episode and hear Paul’s strategic plan to create wealth with cash-flowing assets! For more ideas, you might want to visit on these podcasts:
The One Thing Podcast
We Study Billionaires Podcast
This week’s episode features Nishant Shah. Nish is an accredited investor from the Chicago area. His W2 role is an anesthesiologist, but he is building his passive investing portfolio to give him flexibility down the road. He is looking to do some group investing with fellow physicians to help diversify his investments and minimize risk. Nish enjoys educating himself on the business through podcasts, books, and via a community like Left Field Investors.
There are many ways to earn passive income, so why limit yourself to just one asset class when you can diversify your income streams? In this episode, Eng Taing, Founder and CEO of Touzi Capital, shares insights on the different asset classes in the Touzi portfolio and how they are able to effectively and profitably serve their investors. Eng also goes in-depth into the Bitcoin mining process and the role it plays in energy generation and consumption. So tune in and learn how you can diversify your portfolio, earn passive income, and have cash flowing from multiple income streams!
Speculation is often the most exciting and riskiest part of a wealth-building strategy. Venture capital is a great way to potentially boost your overall portfolio returns with a small allocation to this type of speculation. We usually talk about boring (consistent) returns on real estate investments, but today we are switching gears and chasing shiny objects! Listen in as Alec Ellison, Chairman of OurCrowd US, explains how to reduce risk while investing in startups, Series A, unicorns, and much more. These are definitely more risky than our typical real estate investment, but a small and careful allocation to venture capital can have positive effects on your overall portfolio. Tune in as Alec shares his journey with Jim Pfeifer on what it’s like to pursue a proprietary public investment strategy, how to capitalize on the accelerating rate of technological change impacting companies across all industries, and learn why most startups aren’t going public as early or often as in the past.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
David Morovitz was 45 years old when he realized he didn’t have any real estate. He had no possessions besides his own property. That was what triggered him to really start investing more. So he reached out and learned about the world of syndication. He went to meetups and landed right on left-field investors. And thanks to left-field investors, David has been exposed to sponsors from every asset class to really create a diverse portfolio. Having the ability to bounce sponsors and numbers off through so many resources is something you have to take advantage of. So start now while you’re young, don’t wait till you’re 45. Get out there and start investing in real estate.
Most people want to live a life full of choices and without regret – it’s a lot easier to accomplish this if you are financially free. To get there, you need one of the two forms of capital – time or money. Knowing which you have can help you implement an investment strategy to help you achieve your goal of being financially free. Join Jim Pfeifer as he talks with Chris Larsen about how he used his capital to attain financial freedom. Chris is the founder and Managing Partner of Next-Level Income, through which he helps investors become financially independent. Learn more about the value of asking why, how life insurance is a strategy not an investment, and why car wash investments might be the next exciting thing in syndications! All that and more in today’s episode of Passive Investing from Left Field.
This week’s episode features Brian Piana. Brian is a professor teaching graphic design that started investing passively this past year and is currently in two deals. Brian has found a lot of value from joining a community of like-minded investors to help educate him. He plans to watch the economy for a while before deploying more capital but will be watching for the next great deal.
Franchising is becoming a more popular way to start a business. It allows you to invest in an established business system with a proven track record of success. But how can you find the right franchise for you? Tune in today to hear Kim Daly share her insights. Kim is the Franchise Consultant at The Daly Coach, one of America’s Top Franchise Consultants, Founder & Host of KimDaly.tv, and Motivational Speaker & International Best-Selling Co-author. She is also the creator of “The Daly Plan” – a millionaire mindset coaching program that enabled her to build the largest franchise consulting business in the history of franchise consulting. For the past 20 years, Kim has been helping people realize their dreams of business ownership through franchising. In this episode, Kim sits with Jim Pfeifer to walk you through franchising, why it is a good business model for anyone who wants to dive into entrepreneurship, and how you can find the right franchise.
Vyzer is a wealth management tool that was designed to monitor and track all of the standard financial asset classes. But what’s most exciting about this tool is how it has been optimized to track passive syndication investments. Litan Yahav explains how Vyzer works in this conversation with Jim Pfeifer. Litan started out developing hardware and software for photographing and displaying diamonds online for trading. After he sold the company, he and his partner decided to invest on their own rather than go with a standard wealth manager. They found real estate syndications and started allocating capital but soon found that there was no software solution for tracking syndication investments - so they decided to build their own. This was the beginning of Vyzer - the complete wealth management tool that allows you to track all of your financial assets, including syndications and private placements. Tune in to this episode to learn how to ditch your spreadsheets and get started with Vyzer!
This week’s episode features Jeff Geagan. Jeff has been investing passively for about a year and a half. Having started as an accidental landlord in the real estate industry, he has pivoted to the passive side over time. Today, Jeff shares how he found value in Left Field Investors and Tribevest to educate him and spread his risk of investing. He continues to look at new opportunities in individual and group investments.
There is a difference between investing and saving. To attain financial freedom you need to take action and invest. In this episode, Billy Keels, Founder of First Generation Capital Partners, shares his experience and the different trials he faced along his journey. He talks about how Rich Dad Poor Dadby Robert Kiyosaki changed his mindset and helped him liberate himself from his W2. Tune in to this inspiring episode to gain insights on how Billy found investing success and achieve financial freedom.
This week’s episode features Paul Shannon, a diversified investor with both passive and active investments in his portfolio. Today, Paul describes deal metrics that he both likes and dislikes when he is vetting a deal, as well as asset classes that he likes to invest in. Paul hails from the Indianapolis area and is focusing on conserving his capital and watching the economy for a bit while he leans towards moving more of his portfolio into the passive investing industry.
Phoenix is one of the most interesting markets for multifamily right now. In this episode, Jim Pfeifer interviews Zach Haptonstall, the CEO, and Co-Founder of Rise48 Equity and Rise48 Communities, to help us learn more about the Phoenix market. Zach takes us on his journey from a real estate investing novice to running a successful business that owns 34 different properties with over 5,500 units in the Phoenix Metro. Listen in to learn the benefits of investing with an operator who is focused on one asset class in one market and get insights on why Phoenix is still a good place to invest despite the amazing growth in recent years.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
This week’s episode features Greg Baxter. Greg began his real estate investing journey by group investing with college friends. Eventually, he progressed into investing on his own in multi-family properties, self-storage, and mobile home parks. Today, Greg shares how he’s focusing on staying on his path to not chasing shiny objects. He also talks about his anticipation of investing in more multi-family deals in the near future with the potential of looking at becoming a General Partner himself at some point.
Camilla Jeffs had limiting beliefs that resulted in her thinking small and then she learned about passive investing. She found that she was able to stop trading time for money and started thinking big - resulting in the growth of her business and allowed her to ditch her W2 job.
Join Jim Pfeifer as he talks to Camilla Jeffs about how she exited her W2 job and created a business to help others start the passive investing cashflow snowball. Camilla is the Founder and CEO of Steady Stream Investments and teaches investors how to create multiple streams of income while also having positive social and environmental impact on the Community. Listen in to learn more about passive investing today!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
This week’s episode features Brian Liddy. Brian has been investing passively for a while and has reduced his W2 hours in half due to the cashflow he has created. He has invested primarily in multi-family units and has spread into other asset classes - including self-storage and mobile home parks – upon seeing their potential. Brian plans to continue his journey to build his cash flow to replace all of his W2 income while also building wealth with assets that appreciate.
We are pleased to have Mark Khuri, co-founder of SMK Capital Management, as our guest to share his insights from his over 17 years of real estate investing experience. In this episode, Mark joins host Jim Pfeifer to talk about asset classes that can thrive in difficult market conditions and the power of diversifying beyond just sponsor, market and asset class. Mark also talked about his role as a capital allocator - he is looking for best in class operators who are experienced in recession-resistant asset classes including self-storage, mobile home parks and work force housing. Listen in for insights on effective diversification with a an expert capital allocator!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
It is never too late to explore your options and find your true passion. By educating yourself on what’s out there, you can start building cash flow and equity without having to do actual work. In this week’s episode, Chad Ackerman interviews Brad Swenson about his journey from being a corporate employee to a passive investor. Brad works in the IT industry and lives in the New Jersey area. He started investing passively using crowdfunding to learn about the business as he grew his portfolio. Brad has diversified his investments and now plans to “go big” with the asset classes that he likes the most.
Do you aim to build wealth in real estate? Listen in as Neal Bawa explains his own experience in the industry. Neal is known as the “Mad Scientist of Multifamily” because of his experience in the technology industry and his use of data analysis in his real estate business. As he figured out the importance of building wealth rather than building income, he decided to shift and focus on real estate. In this episode, he shares valuable insights on technology, data, and statistical analysis related to real estate investing. He also discusses how true wealth is having control of your time, your health and your money. If you want to learn some tips for creating wealth rather than chasing income, this is the episode for you!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Not every investment is suited for everyone, and there are different recipes to success for each. That’s what today’s guest shares about his experience in passive investing. Chad Ackerman chats with Mike Trotter for today’s episode of Infielder Spotlight. Mike talks with Chad about his journey into passive investing after being an engineer for the past 30 years. They discuss analysis paralysis and the importance of having a community, or communities, to bounce ideas and knowledge with when it comes to where and how to make your investments. Plus, Mike shares advice on how you can find deals that are tailored to you. Not all deals are meant for everybody at their space and time in their life and their income. Hear all about it by tuning in to this episode.
What kind of mindset do you need to achieve lifetime cash flow that can withstand any economic conditions? Rod Khleif sits down with Jim Pfeifer and shares his journey of finding his passion for real estate - from great success followed by massive losses in 2008 to rebuilding his portfolio to focus on cash-flowing multifamily properties while also being able to give back to the community. Rod discusses the challenges of keeping the cash flow coming through Covid, inflation, and other economic conditions and shares his insights on how to make informed decisions as a passive investor including eliminating limiting beliefs and finding the right mindset. Tune in to learn why the proper mindset is critical for investing success!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Chris Odegard’s journey was borne out of hardship. He lost 55% of his assets during his mid-40s! He was on his 401k highway to mediocrity. Then he looked at the time he was spending versus the money he was making, and it just wasn’t worth it. It wasn’t until a note fund came into place. And that was when Chris got into the apartment syndication space. Then he quit his corporate job and never had to work again if he didn’t want to.
Join Chad Ackerman as he talks to Chris Odegard about his journey into syndication. Learn what resources he used to help him get to where he is now. Discover why Chris only invests in appreciating assets. And find out more about passive ownership.
You might have heard of self-storage as a great recession-resistant investment but what are the reasons behind the recent success of self-storage assets? In this episode, Jim Pfeifersits down with Chief Investment Officer and the co-founder of Spartan Investment Group, Ryan Gibson, to answer your questions. The two discuss what makes self-storage an attractive investment in this economy and what you should be looking out for prior to investing. Ryan has invested in many asset classes but his risk-mitigating nature led him to self-storage. Why? Listen in to find out! Plus, Ryan discuss the benefits of the Fund model to minimize your losses and achieve greater returns.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
This week’s episode features David Shirkey. David invests passively alongside helping run a family business and working to pass it on to the third generation of the family. He’s found conferences and networking helpful with his education in the industry. He’s going to be focusing more on industrial real estate going forward.
With stocks and bonds, although you might get a small dividend, there are limited current benefits. With real estate, you get a current benefit - cash flow - from your investment and you will likely get a future benefit - appreciation - as well. Join Jim Pfeifer and Taylor Loht, the Founder of NT Capital and host of the Passive Wealth Strategies podcast as they discuss the benefits of real estate syndication investing. Taylor talks about the importance of building the mindset of turning money into more money, going to events and joining a Community to build your network, as well as avoiding the pressure to invest in a specific deal. If you want more valuable tips on earning cash flow from real estate investments, this episode’s for you.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
This week’s episode features David Banks. David has developed into a full-time passive investor through networking, conferences, masterminds, and mentors. He focuses on several items to vet a deal/sponsor, including knowing your own goals, the track record, and other items. Tune in and discover David’s strategy for cash-flowing deals.
Often new passive investors start with a shotgun approach when it comes to sponsors - invest with a lot of different sponsors at the minimum and you do your best to vet each one. That is how Travis Watts, the Director of Investor Relations at Ashcroft Capital, started his passive investing journey. Now that he has a stable of sponsors he knows, likes and trusts - he is investing larger amounts with fewer sponsors. Join Jim Pfeifer as he and Travis talk about investing strategies, sponsor selection, the importance of setting goals and paying attention to the most critical metric in the proforma, Net Operating Income. Tune in for great tips and tricks from a very experience passive investor!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
This week’s episode features Jon Bult. Jon got into his first passive deal less than a year ago. He has been learning about the business by listening to podcasts and through the network at Left Field Investors. Jon is continuing to expand the asset classes he’s investing in which will include crypto in the future.
You can have as many assets as you want, but they won't do you any good if they aren't protected. In this episode, Brian T. Bradley, Esq. breaks down asset protection and why it’s important to have a comprehensive plan. Brian is the Senior Managing Partner at Bradley Legal Corp, an Advisory Board Member of the Asset Protection Counsel, and is a leading educator and nationally recognized asset protection attorney for high-risk professionals, entrepreneurs, real estate investors, and ultra-high net worth families. With insights from his presentation “Understanding Asset Protection,” he gives business owners and investors valuable and practical tips to guide them on keeping their assets secure, saving on taxes, and avoiding lawsuits. There’s a lot to learn in this episode with host Jim Pfeifer, so grab your pen and get ready to take some notes!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
This week’s episode features Tyson Miller. Tyson is a full-time passive investor that started out in the IT Consulting space. Tyson has been focusing on diversifying his portfolio with both Left and Right Field investments focusing on multiple asset classes on the passive side. He plans to look outside of the popular asset classes over the next few years to expand his knowledge of the market.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
To gain financial freedom, you need to have a mindset for a rich life. Jim Pfeifer and Left Field Investors sit with Dr. Tom Burns, the author of the best-selling personal finance guide for people who want to live life to the fullest, Why Doctors Don't Get Rich. Tom shares how he bought the first copy of Robert Kiyosaki’s legendary book, Rich Dad, Poor Dad. This gave him a clear roadmap of how passive income will free you through cash flowing assets. Tom discusses how financial freedom allows you to buy back your time and construct the life you want. Listen to this episode to learn more about having a mindset for a rich life.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
If you are looking to diversify your investments, this podcast is for you! Left Field Investors is a community of experienced individuals sharing resources and expertise to help their tribe members make informed decisions and take calculated risks. In this episode, Jim Pfeifer shares his journey to passive investing and how the community has played a big role in his success. Tune in and learn how you can grow your network and never have to take the risk alone.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
The decision to leave the corporate world in favor of a career in real estate is always a difficult one. When you finally decide you are ready and it's time to ditch the W-2, take the leap because there is never a perfect time! This is exactly what Clive Davis did when he left a high-paying corporate job as an attorney to fully embrace real estate investing. He sits down with Jim Pfeifer to share his transition to a full time investor and how he navigates the many challenges this change entails. Clive also talks about the investment community he built where he provides a much-needed forum to share information and inspiration in the multifamily space. Listen in to hear from someone who successfully ditched the W2!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
How can you insulate your investments from an economic downturn? What do you need to become recession proof? Jim Pfeifer talks about investing, inflation and recession proof real estate with Hunter Thompson, Managing Principal at Asym Capital. Hunter talks about raising capital, multifamily syndications, and why real estate is the real deal. Learn more investing tips and tricks as you build your passive income streams.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
There are many ways to build and grow your real estate business, but once you get to a certain point, you have to break through your limits. Syndication is one way, and scaling through syndication offers many benefits not only to you, but your partners as well. In this episode, Jim Pfeifer and Left Field Investors talk about growing your investment with Derek Clifford, founder and CEO of Elevate Equity. Derek shares his journey from accidental landlord to scaling real estate investments. Tune in to learn more great insights on how to grow your passive investments.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
It’s refreshing to see how more organizations are set on generating wealth to give back to society. One of these companies with a mission to fulfill a greater purpose is the Legacy Group. Directed by one of its leaders, Josh Ziegelbaum, the Legacy Group generates value by catering to clients who invest in projects that produce favorable returns and have a positive social and environmental impact on all relevant stakeholders. Josh joins Jim Pfeifer and Left Field Investors to share his goal of targeting profitable investment opportunities for the benefit of everyone in society. Listen in as Josh explains how he and his team leverage the power of capitalism and business creation to serve others as a force for the greater good.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
With so much happening in the world today, the state of the economy has been messy and unpredictable. Yet, the real estate market is booming. Jim Pfeifer sits down with Eric Sussman, a Founding Partner at Clear Capital, to learn how investors should approach the industry nowadays. They discuss the effects of inflation on real estate and the economy, how to maximize rent increases, and why a lot of deals are able to complete a full cycle much faster than in the past. The two also bring their discussion to global events as they talk about the impact of the rising gas prices due to the Ukrainian-Russian War and China’s attempt to implement a zero-tolerance policy for COVID-19. Tune in to learn more!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
When it comes to asset protection and the legal side of real estate, a lot of people can run into trouble. Some people use their personal names for their assets, and when things get rough, they end up with nothing. Learn how you can protect yourself with your hosts Jim Pfeifer and the Left Field Investors as they talk to Scott Smith of Royal Legal Solutions. Scott is an Attorney and the Founder of Royal Legal Systems. His goal is to share his knowledge as an Attorney to help real estate investors protect their futures. Learn what a Series LLC is and what a Child Series is. Find the right sponsors and work with the right people. Listen to the conversation to protect your assets ASAP!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Investing of any form is never a walk in the park. But once you’ve learned the ropes and set the foundations for active investing, passive investments can be easier than you think. In this episode, Sam Wilson, the founder of Bricken Investment Group, shares his expertise on both aspects. Sam is an active investor currently focused on RV parks and RV and boat storage. With his years of real estate experience, Sam understands that the key success factor in passive investing is choosing the right team. He joins Jim Pfeifer to talk about his history of both active and passive investing. Listen in as Sam shares how he got involved and started deploying money into passive assets.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Everyone wants to have a comfortable retirement, but the problem is how to get there. Passive investing is one tool you can use to ensure you spend your retirement years doing what you love. Jim Pfeifer and Left Field Investors talk passive money with Dan Kryzanowski, Advisory Partner at BV Capital. Dan discusses how to make your 401k work for you, investing in IRA, moving into real estate, and the opportunities in it. Join this discussion and learn some great tips to prepare for your retirement.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
You don’t need to have 100% knowledge to start investing. All you have to do is imperfect action. Enter Russ Morgan, the Wealth Without Wall Street’s Founder and Partner, famous as “The Idea Guy.” He talks about how you can take action by having a 40% to 70% knowledge range. Do more due diligence if you don’t know even 40% of what you need. Once you have enough knowledge, take imperfect action! Don’t be afraid of failure; they don’t exist. It’s either you learn a lesson, or you succeed. If you want more tips on how to succeed in your investments, tune in!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Finding enough capital for real estate investments can be a challenge. Once you have the capital, finding the right sponsor often means using your network and asking tough questions - both contribute to the success of your investment. Jim Pfeifer sits down for a discussion on syndication sponsors with Greywhale Capital’s founder and managing partner, Alex Moore. Alex examines what you need to know about reviewing syndicators — from finding sponsors to what you need to ask prospective sponsors. Learn more about the passive investment game by tuning in!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
You shouldn’t have to choose between cash flow and appreciation. Mobile home parks are becoming quite common investments for real-estate investors. Ryan Murdock, co-founder and strategic advisor to mobile home park syndicator, Open Door Capital, joins Jim Pfeifer to teach us how these assets can often generate more cash flow and appreciation than other multifamily investments. Ryan also talks about leveraging value-add opportunities that enable forced appreciation for mobile home parks. Listen in and learn more as Ryan lets us in on the secret to why he considers mobile home parks recession-resistant assets.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Are you interested in venturing into real estate syndications through passive investing? Do you think your current knowledge in investing is enough to help you succeed? Come and join us in today’s episode with Aryeh Sheinbein as he shares his more than twenty years of experience in the financial services industry. He describes some of the motivations that different platforms and operators have when presenting opportunities and how this could influence the performance of an investment. Aryeh also discusses some of the popular metrics sponsors use in their investment presentations and the importance of properly analyzing the sponsor prior to making an investment. Stay tuned to learn different strategies and to help you gain a deeper understanding of passive investing!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Are you sure you're executing the right strategies, or are you willing to learn more? It’s never too late to start diving in and grow your business! In this episode, Robert Levy, founding partner of LPX investments, shares his knowledge on real estate investing, specifically in retail. Robert has been in real estate for 30 plus years. He got a job with a local real estate consulting firm straight out of college and then became an investment banker and a stock analyst. Robert has been involved in many areas of real estate including asset management, finance, multifamily, retail, and hotels - this experience gives him an advantage when determining where to allocate capital. Tune in and find out more!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Economies worldwide are facing some of the most unpredictable times caused by the pandemic. To help you navigate the economy in the upcoming year is John Horn, Professor of Practice of Economics at the Olin Business School at Washington University in St. Louis. He joins Jim Pfeifer to shed light on the current state of the country’s economy and where it’s headed in terms of inflation. The pandemic has undeniably boggled multiple economies and has had cascading effects with supply chain issues, reductions in the workforce, the wage-price spiral, and more. Tune in as John breaks down and entertains different possibilities for the economy this 2022.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Agricultural land isn’t a commonly discussed asset class, but that doesn’t mean it’s not valuable. Many investors are betting on the increased value, and profit, that farmlands will bring. In this episode, Jim Pfeifer talks farmland and everything in between with the cofounder and CEO of Farmfundr, Brandon Silveira. Brandon gets into the nuts and bolts of investing in agricultural land, how to add value to your investment, and finding the right crops to support. Want to learn more about investing in farmland? Then tune in for more!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
When investing, you need to do your research like a ninja - you need to know the market, the industry, and all the factors around your investment. Join your host Jim Pfeifer as he sits down with Cashflow Ninja, M.C. Laubscher. M.C. is the founder of Producers Wealth and Cashflow Ninja. In this episode you will learn how to find sponsors and people you can trust when it comes to investing and hear about some of the different real estate assets M.C. focuses on, such cell tower syndication high cash value life insurance and more. Forget about FOMO and live in JOMO instead! Find what that means as you become a Cashflow Ninja today!
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
In this world, nothing is certain but death and taxes. But what if we tell you there’s a way to get around the latter? Jim Pfeifer talks to Tom Wheelwright, CPA, founder and CEO of WealthAbility and the best-selling author of Tax-Free Wealth, about how to build massive wealth through tax-free strategies that permanently lower your taxes. Tom is a leading wealth and tax expert, global speaker, and entrepreneur. He specializes in helping entrepreneurs and investors build wealth through practical and strategic ways that permanently reduce taxes. Listen in as Tom makes discussing taxes fun, easy, and understandable.
To see the full show notes and transcript, click here.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Do you want to invest but don't know where to start? Join us in this episode with our guest, Denis Shapiro, the Managing Partner at SIH Capital Group LLC, to gain valuable insights on where to start. Denis started investing in traditional stocks at 14. Unlike most investors who focus on specific investment assets, he still looks at both traditional and alternative investments. Now, he is helping people diversify their funds and investments through SIH Capital Group. Denis also wrote the book The Alternative Investment Almanac to share his insights into building wealth. Start building yours by listening to this episode!
To see the full show notes and transcript, click here.
There’s no doubt that the benefits of diversifying your assets are numerous, but how do you go about doing it? On today’s show, Jim Pfeifer welcomes Matt Picheny, the Founder of Picheny and a member of the Left Field Investors community. Matt is also the author of Backstage Guide To Real Estatewhere he shares his journey to earning passive income. Matt focuses on multifamily, diversifying in terms of geography, asset class, or operators. He explains how focusing on one niche allows you to grow in expertise while lowering your investment risks. If you need a more backstage guide to real estate, look no further. Sit back, relax, and enjoy listening to this episode!
To see the full show notes and transcript, click here.
What are you looking for when you search for assets? For Lee Harris, the President and CEO of Cohen-Esrey, population growth, job growth, and median income in a one to three-mile radius are vital traits. Cohen-Esrey is a family of companies involved in apartment management, affordable housing, development, apartment acquisition and ownership, tax credit, syndication, and construction. Today, Lee talks with host Jim Pfeifer about why it’s essential to search for assets the programmatic way. When you know what traits are necessary for your assets, you become more intentional with your investments, making the process easier and more effective! Tune in and learn to streamline your search for assets!
To see the full show notes and transcript, click here.
Risk is as big a part of investing. So how do you mitigate or minimize risk and maximize your reward? In this episode, that’s the conversation as physician and investor, Ian Kurth, shares his insights with Jim Pfeifer. Ian discusses how he got into investing, the different investment assets he has handled over the years and his take on the Bitcoin craze. Want to learn more about investing from a seasoned investor? Tune in as Ian and Jim share their experiences.
To see the full show notes and transcript, click here.
Everybody is already deep in the notes space. However, most people are not just aware of taking advantage of it from an investment standpoint and shifting the payment stream to your benefit. Jim Pfeifer is joined by Scott Carson, Owner and Managing Member of WeCloseNotes.com and Host of The Note Closers Show. Scott shares valuable and actionable tips in winning big in the notes industry, from servicing and buying notes to finding the right sponsors to take care of your finances. He also explains how he handled cash flow issues due to the COVID-19 pandemic and maximize the steadily growing market in the future.
To see the full show notes and transcript, click here.
Nathan Clayberg is an Assistant Vice President at MLG Capital. MLG Capital is a private real estate firm that has been in the industry for over 30 years with over 22,000 multifamily units under management. In this episode, Nathan discusses how state taxes impact fund investing, the importance of choosing the right sponsor and what asset classes he favors right now.
Nathan talks about why he favors the fund approach rather than a single asset syndication. One of the main advantages he sees with funds is diversification – both in different properties and in different markets.
Nathan discusses when investing in a fund, taxes might need to be paid by the investor in each state where the properties in the fund are located. He describes how MLG has a unique way to invest for those with retirement funds or for those who want to avoid the state tax issue – they have a dividend fund that uses a non-traded REIT which reclassifies the income as dividend income. Investors may forgo some depreciation benefit, but they won’t have to file state income tax returns.
Nathan talks about the timing of investment in a fund – the benefit of investing early is a higher multiple because you are receiving dividends longer, but later investors have a higher IRR because your capital is returned more quickly.
Nathan mentions the asset classes MLG prefers in their fund – mostly multifamily with some industrial. They will look at office and retail but only if the deal has a very compelling story.
Nathan talks about importance of sponsor screening and why it’s important to receive regular and comprehensive reports from sponsors. He also mentions the importance of location and comparable rents in the market when evaluating the proforma from the sponsor.
Podcasts he recommends:
The Real Estate CPA
To connect with Nathan, you can email him at nclayberg@mlgcapital.com or click this link.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Josh McCallen is a nationally recognized capital syndicator, hospitality investor, turnaround specialist, conference speaker, innovator, builder & developer with a track record for the development of exceptional resort properties and growing world-class operational teams. Josh was also a guest on Episode #2 of the Passive Investing from Left Field Podcast. In this episode, Josh talks about forcing equity through resort investing and service that revives the soul!
Josh explains his two companies – Accountable Equity which is investor focused and raises money for investing in resorts and Vivamee which is hospitality focused on the guests that stay in the resorts.
Josh mentions that there are three ways to invest with Accountable Equity: an equity position in the resorts, heavy cash flow from Efficient Income Funds (EIF's) which offer a return combined with tax efficiency and notes through a private REIT with a collateralized debt fund.
Josh talks about the difference between Marriott and other name brand hotels and resorts operated by Vivamee. He explains that business hotels have really struggled through Covid, but the “drive-to” resorts with lifestyle experiences have thrived through the pandemic.
Josh discusses the decision to purchase Airbnb properties nearby to his resort properties and his plans to expand the operation to build additional duplexes or fourplexes to rent to wedding parties.
Josh talks about the structure of the equity investments in the resort properties and that cash flow can be expected by year two, capital will be returned within five years and investors will maintain ownership in the resorts.
Josh discusses the Efficient Income Fund which is optimized to offer full tax depreciation while also providing a cash-on-cash return to the investor. The EIF allows Josh to buy capital improvements like golf carts and kitchen equipment and rather than leasing the equipment they use the investors’ money to buy these assets and provide a return and depreciation write-offs to investors.
Podcasts recommended by Josh:
Cash Flow Ninja
Bigger Pockets
Listen to Josh on his podcasts:
Wealth Building with Friends
Capital Hacking
Efficient Income Fund Webinar
Contact Josh and Join his Community at AccountableEquity.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Dan Bartholomew is a financial advisor and a beginning passive investor. He invested in his first two deals with a group using Tribevest. He has been listening to the podcast and making a list of questions and agreed to be a guest on the show to get his questions answered – in order to help us all become better investors!
Questions asked and answered in this episode:
· What is the difference between Cost Segregation and Bonus Depreciation? What is Depreciation Recapture?
· What is a Real Estate Professional (REP) and what are the benefits of being an REP?
· What is Cash on Cash return and IRR? For ATM’s, Cash on Cash return is greater than IRR in the proforma – why?
· What is Forced Appreciation? Is it different from Forced Equity?
· What is velocity of money as it relates to passive investing. How can you get your capital returned and still own the asset?
· What is a cap rate and why is it important?
· When you are new to passive investing and you don't know how to digest all the information a sponsor sends for a deal, what should you focus on?
· How do you know if a deal is geared towards cash flow, appreciation or tax advantages? Is it possible to get all 3 in one deal?
· What is Economic Vacancy?
· What is the Capital Stack?
· What is Preferred Return (Pref)?
· What is the difference between Class A and Class B shares?
· Why would a company like Walgreens or Dollar Tree choose a triple net lease arrangement?
· What is Break-Even Occupancy?
· What is an acceptable GP/LP split?
· What is the Equity Multiplier?
· Is there one deal or one mistake that you made that changed the way you invest?
Podcasts he recommends:
Tim Ferris
Jocko Podcast
Passive Investing from Left Field
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors' Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Spencer Hilligoss is the CEO & Co-Founder of Madison Investing, a real estate syndicator partnering on over $800M in multifamily and self-storage assets under management. He is both a passive investor and active syndicator with a history in the financial technology industry. In this episode, Spencer discusses matching your investment strategy to your strengths, building your own investing criteria, and understanding the structure and value of the general partners in a syndication.
Spencer discusses financial offense and defense. He thought two large W2 incomes was enough but realized that multiple income streams would help insulate his family against the unknown. That’s what he calls financial offense – things like adding income streams and setting clear financial goals. Financial defense is thinking about creating maximum tax efficiency and expanding ones means rather than being completely focused on cutting costs.
Spencer explains how his fintech experience helped him prioritize personal finance and to see money as a tool. This perspective also led to his transition from SFH’s to syndications. He also mentions that the operator, the market, and the deal are three critical things to look at for each syndication investment. He mentions that he thinks the strength, structure and experience of the operator are the most important parts to evaluate. Spencer stresses the importance of understanding the structure of the management group and what value each general partner is adding. He recommends third party evaluation of sponsors either through your network or getting references from people who have invested with them before. He discusses the importance of building your own criteria for what is important to you to get from the sponsor.
Podcasts he recommends:
Old Capital
Bigger Pockets
Financial Freedom with Real Estate Investing
To connect with Spencer, go to www.madisoninvesting.com or LinkedIn.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Liz Faircloth is the Co-Founder of The DeRosa Group, a developer of commercial and residential property with a mission to revitalize urban America. She is also the co-Founder of The Real Estate InvestHER community - a platform to empower women to live a financially free and balanced life on their own terms. She is co-Host of the The Real Estate InvestHer podcast and author of an Amazon Bestseller – “The Only Woman in the Room – Knowledge and Inspiration from 20 Successful Real Estate Women Investors!" In this episode, Liz discusses the importance of transparency from general partners when explaining who is involved in the management of a deal, why being comfortable with the sponsor is key to success and why she started a community for women investors.
Liz talks about analyzing your own success so you can let go of what isn’t working. She mentions that she started syndicating in NJ and Philadelphia but markets became overheated so she needed to find new markets. Initially she started investing in Lancaster, PA before moving on to markets in NC and KY.
Liz discusses the importance of understanding the focus and strengths of the sponsor and making sure that matches what they are actually doing. She talks about investing in C class neighborhoods and properties and the importance of knowing the market and targeting the assets that meet her investing thesis.
Liz talks about being a GP and the importance of the sponsor's transparency regarding who is involved in the deal. She stresses that if a sponsor is vague or evasive about their team then that can be a huge red flag. It should be clear who is on the team and what their role is.
Liz discusses the InvestHer Community and why she started a network for women investors. She also talks about how the Community works on building each other up and helping women grow confidence in their investing.
Podcasts she recommends:The Real Estate InvestHer Show
Brene’ Brown Podcast
To connect with Liz go to www.derosagroup.com or therealestateinvesther.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Peter Badger is the Chief Strategy Officer at Farmfolio. Their mission is to make farmland ownership easy for everyone. Peter has been an avid real estate investor for years and educator with a current focus on overseas farmland. In this episode, Peter discusses why overseas farmland is a worthy investment, how it works and why the returns are better than U.S. farmland.
Peter talks about multifamily and overseas farmland – the two asset classes which thrived for him during pandemic. He also discusses the importance of real assets because the stock market is so cyclical and the benefit of investing in farmland as an asset class that is completely non-correlated to other assets. He mentions that the core of his wealth is in real assets like multifamily and farms.
Peter talks about his multifamily portfolio and the why he still invests in apartments but has now changed his focus to farmland as he can have more control and no tenant related risks. He mentions that many high wealth people have up to 25% of their wealth in farms and forestry. He likes the Farmfolio approach because the farms are managed in the entirety but can be broken into individual lots and can be sold individually and managed under a Farm Owners Association. The returns are combined with all plots on the farm, so you get the average of the whole farm rather than just from your plot. He also mentions that there is a secondary market for the farms, so you can sell a performing farm plot to a new investor.
He explains that farmland and labor in the United States are more expensive than overseas which lowers returns significantly. There are also improvements that can be made to the land and processes because many overseas farms are not as sophisticated and the farmers don’t have the expertise to export to the U.S. where they can get higher prices for their products.
Peter talks about the importance of choosing the right country, making sure that you understand the property rights, how to take title, foreign ownership rules and capital controls of money coming in and leaving the country. He also discusses how to analyze the deal, concentrating on sponsor, market and asset class.
Podcasts he recommends:
Old Dog Real Estate Podcast
Risk Matrix he mentioned can be accessed here: https://tinyurl.com/farmlandanalysismatrix
To connect with Peter email him at peter@farmfolio.net or go to www. farmfolio.net.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Ivan Barratt is a multifamily owner, manager, and syndicator who specializes in large apartment communities in the Midwest. Since 2015, he has raised nearly $150 million in equity and acquired over 5,000 multifamily units. Today, Ivan focuses his time on equity finance, acquisitions, and company strategy. His company, BAM Capital, manages nearly $593 million in syndicated assets. In this episode, Ivan discusses why he prefers multifamily apartments, why structuring debt effectively is critical and how a refinance with infinite returns might not be the best way to increase returns.
Ivan talks about the strength of multifamily in the current market and the risks of both inflation and deflation.
He discusses the difference in debt structures, the importance of properly structured bridge debt and efficient long-term debt.
Ivan talks about the benefits of selling an asset rather than refinancing and why the infinite return model may be less effective than selling an asset and recycling the funds into a new deal.
Ivan discusses why he prefers a fund model rather than an individual asset investment and why a fund is better for the sponsor and the investor.
Ivan explains how to analyze a sponsor who is managing a fund and importance of finding a fit between investor and fund manager and if there is no fit. It’s ok for both parties to move on. He also talks about the importance of referrals when analyzing a sponsor.
Podcasts he recommends:
Real Vision
To connect with Ivan, go to https://capital.thebamcompanies.com or call him at 317-762-2625.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Tania Mirchandani is the Vice President of Capital Markets at Clear Capital. She worked in wealth management for nearly 15 years at Goldman Sachs. She has been involved in multifamily real estate management, operations and acquisitions for 5 years and she joined Clear Capital at the beginning of this year. In this episode, Tania talks about the importance of trust and confidence in a sponsor, the different information needs that individual investors have and some important deal metrics to analyze when reviewing a deal.
Tania talks about the illiquidity of syndication investments and the importance of general partners investing in their own deals.
Tania explains the importance of trust and confidence in people you are investing with and how that trust can be transferred through referrals and word of mouth. She also talks about different investors and their needs for depth of information when they are reviewing deals. She encourages everyone to figure out how they want to pursue an investment opportunity and to get comfortable with whatever level of information they need before investing.
Tania mentions some of the metrics that are important to her when analyzing a deal.
Podcasts she recommends:
Focus On Facts
Super Soul
To connect with Tania go to www.clearcapllc.com or email her at tania@clearcapllc.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Whitney is a real estate investor and personal finance trainer working to help others on their path towards financial independence. She is the founder of ASH Wealth and the Investor Accelerator Program which helps investors develop a plan to reach their real estate and financial goals. Today, Whitney is a partner in $700M+ of real estate assets, including 5,000+ residential units (SFR, MF, MHP, and assisted living) and 1,430+ self-storage units. She has been a guest on multiple podcasts, including Bigger Pockets Episode #340. In this episode, Whitney discusses managing your investments like a business, the five wealth centers of real estate and recycling money with velocity to grow your business.
Whitney talks about the importance of the equity build and accumulation phase to build capital. For those starting out with a small amount of money, she recommends starting with single family homes, but if you have significant capital to start, you can leverage other people’s expertise and invest in other their deals through syndications.
Whitney discusses the wealth centers of real estate – cash flow, leverage, tenant paydown, inflation reducing the debt, depreciation and tax benefits of real estate. She also talks about the BRRR (buy, rehab, rent, refinance, repeat) method vs turnkey investing and relates it to return on time. She talks about an investor’s need for capital, time or hustle and depending on which of those you have, that can guide the investing strategy you choose.
Whitney mentions the importance of treating your passive investing as a business that you are building and talks about the benefits of qualifying for the real estate professional status.
Whitney discusses the 1031 exchange compared to the “Lazy 1031” and some of the challenges of the standard 1031 as it can force you into a transaction that might not fit your overall business strategy.
Whitney talks about velocity of money, which means putting cash flow back into the business to produce more cash flow to grow your business at an exponential rate.
Whitney discusses the evaluation of a sponsor and some of the red flags she looks for when vetting a sponsor as well as some deal metrics that are critical to her in evaluation of a deal.
Podcast she recommends:
Get Rich Education
To connect with Whitney you can email her at ashwealthco@gmail.com or go to www.ashwealth.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Jeff Anzalone is the Debt Free Doctor. He is a periodontist and became concerned that his family only had one source of income – so he learned how to build multiple streams of passive income and now he is helping others to learn as well. In this episode, Jeff discusses how he started learning about finance from Dave Ramsey and then moved on to learn from Robert Kiyosaki, how he screens sponsors and the importance of taking action.
Jeff talks about his research that showed him that 90% of millionaires own real estate and have at least seven different income streams. This led him to determine he needed real estate and needed more than his paycheck as an income stream.
Jeff mentions how he followed Dave Ramsey early in his journey and it helped him get out of debt and how he moved beyond Ramsey and the scarcity mindset to an abundance mindset that led him to real estate syndications.
Jeff discusses the three things he always asks sponsors when he is on a call screening an operator. He also mentions the importance of taking action – if you never take action you will never move forward.
Jeff explains how after the initial stages of the pandemic, hotel values dropped and he took advantage of the market conditions to invest in several hotels and through this he learned the value of being opportunistic.
Jeff also talks about some of the important metrics he looks at when evaluating a multifamily deal.
Podcasts he recommends:
Passive Investing from Left Field
Cardone Zone Podcast
Wealthability
Videos Jeff recommends during the podcast:
Hotel Investing Explained (Part 1)
Hotel Investing Explained (Part 2)
How to Legally NOT Pay Taxes - Tax Free Wealth
Jeff mentions The Ultimate Passive Income Guide and recommends The Hands-Off Investor by Brian Burke.
To connect with Jeff, you can email him atjeff@debtfreedr.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Kathy Fettke is the CEO of Real Wealth Network, host of the Real Wealth Show and author of Retire Rich with Rentals. She helps people build wealth with cash flowing real estate through single family rentals, syndications and more. She has grown an amazing network and built a great Community and shares our focus on networking and education. In this episode, Kathy talks about how she got started in real estate, the value of quality property management and the power of a network and community.
Kathy talks about how she got started in real estate through creative house hacking followed by monetizing her radio show in an unexpected way and how that eventually grew into the business she has today. Kathy mentions booking Robert Kiyosaki on her radio show and that led to him recommending she get out of some of the overpriced markets and start buying in Texas. She followed his advice, as did her growing community, and they not only made money in Texas but avoided losing money when the over-priced markets tanked.
Kathy discusses taking advantage of opportunities in a down market and buying assets when most people are fearful. She also talks about property being overvalued now in some areas, but that doesn’t mean there isn’t still opportunity out there. She discusses demographics and the effect that will have over the next few years which leads her to markets in the Southeast.
Kathy talks about single family turnkey operations and the importance of understanding that means different things to different people and it’s essential to get on the same page as those you are doing business with. To accomplish that, she established guidelines for all of her operators so that her network gets a similar experience regardless of the operator or market. Kathy discusses property management and its importance to the bottom line for all real estate - “Success of your real estate depends on your property manager”.
Kathy mentions that there are ways to get started with limited funds and that wealth can grow steadily through investing in real estate on a regular basis. She also talks about the network effect and how pushing her providers to share information has improved the performance for everyone. She discusses how the strength of a network is to find problems early and share in the solutions as well as to help each other find opportunities and the importance of learning from each other and using the leverage of a network.
Podcasts she recommends:
Real Wealth Show
Real Estate News for Investors
New Home Insights Podcast
To connect with Kathy go to www.realwealthnetwork.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
For this episode, we are releasing our exclusive MASTERCLASS on building wealth through passive Real Estate. In this 9-part MASTERCLASS, passive investing expert Jim Pfeifer, founder of Left Field Investors, sits down with Tribevest's Julian McClurkin. Jim reveals how to put your money to work through strategies that only recently became available to the average investor.
Millions of people are wisely reallocating their recent gains from the stock market (and Crypto!) and diversifying to tangible assets. Real Estate is the perfect asset to protect against market crashes and inflation. It's no wonder this tactic is how the wealthy have played the game for centuries.
We covered the following chapters in the previous episode:
1. What is Passive Investing?
2. What is a Syndication?
3. What are the Pros and Cons of Passive Syndications?
4. How to Pick a Sponsor
The following chapters will be discussed in this episode:
5. How to Pick an Asset Class
6. How Can You Diversify by Market?
7. How Do We Choose a Deal?
8. What to Expect When Investing in a Syndication
9. How to Invest With a Tribe
These topics will be familiar to many of you, but the intent of the masterclass is to give an overview of passive investing that will hopefully help beginners as well as experienced investors.
We want to thank Tribevest, and especially Julian McClurkin, for supporting us in the production on the Masterclass. We would also like to thank the entire LFI team, Chad, Sean, Ryan & Steve, for their help in creating the content - we certainly could not have done it without them!
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
For this episode, we are releasing our exclusive MASTERCLASS on building wealth through passive Real Estate. In this 9-part MASTERCLASS, passive investing expert Jim Pfeifer, founder of Left Field Investors, sits down with Tribevest's Julian McClurkin. Jim reveals how to put your money to work through strategies that only recently became available to the average investor.
Millions of people are wisely reallocating their recent gains from the stock market (and Crypto!) and diversifying to tangible assets. Real Estate is the perfect asset to protect against market crashes and inflation. It's no wonder this tactic is how the wealthy have played the game for centuries.
We will be covering the following chapters in this episode:
1. What is Passive Investing?
2. What is a Syndication?
3. What are the Pros and Cons of Passive Syndications?
4. How to Pick a Sponsor
The following chapters will be discussed in next weeks episode:
5. How to Pick an Asset Class
6. How Can You Diversify by Market?
7. How Do We Choose a Deal?
8. What to Expect When Investing in a Syndication
9. How to Invest With a Tribe
These topics will be familiar to many of you, but the intent of the masterclass is to give an overview of passive investing that will hopefully help beginners as well as experienced investors.
We want to thank Tribevest, and especially Julian McClurkin, for supporting us in the production on the Masterclass. We would also like to thank the entire LFI team, Chad, Sean, Ryan & Steve, for their help in creating the content - we certainly could not have done it without them!
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Chad Ackerman is a senior consultant working for a major bank as well as one of the co-founders of Left Field Investors. He has been a major contributor to the development of all of the Infielder tools we have been developing this year and is working towards his goal of financial freedom. In this episode, Chad discusses how he got started in passive investing, using velocity of money to increase his returns and why he uses Tribevest for group investing.
Chad talks about how he started in real estate with private lending and then started chasing the shiny object, as so many of us have. He discusses how his networking with multiple groups has helped him on each step of his journey – including how networks helped him find focus in his investing strategy.
Chad explains that using velocity of money in passive investing can be as successful a strategy as managing your own active real estate portfolio. He gives an example of this when you get a refi 2-3 years into an investment - you still own the investment and you can go invest the returned capital in a new deal, effectively earning two returns with the same dollar.
Chad talks about his decision to liquidate his old 401k and pay the taxes plus penalty so he could invest that money passively in real estate syndications. He explains how he expects that money to be recycled and grow so that he won’t need to add more capital in the future.
Chad discusses his experience with group investing through Tribevest. He says Tribevest increased his network, helped with diversification, and helped him learn to be a better investor. He also talks about how to set up a tribe for success.
Chad ends the podcast talking about his favorite metrics when analyzing a multifamily deal and how those metrics have changed as he has grown as an investor.
Podcasts he recommends:
Bigger Pockets
Real Estate Guys
Passive Wealth Strategy
To connect with Chad, you can email him at chad@leftfieldinvestors.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Jorge Newberry is CEO and Chairman of AHP Servicing LLC and American Homeowner Preservation LLC, which crowdfund the purchase of nonperforming mortgages from banks at big discounts, then share the discounts with struggling homeowners. He is also Founder and CEO of Debt Cleanse Group Legal Services, a nationwide legal plan to help consumers and small businesses get out of debt. In this episode, Jorge discusses his rise and fall in multifamily investing and how he got out of debt and started new businesses that make money for investors and help homeowners in financial distress.
Jorge discusses his two new investment opportunities which are similar to his previous fund where they buy loans from banks and help the homeowners stay in the home be restructuring the mortgage.
Podcasts he recommends:
Wealth Formula
Jorge mentioned his book "Burn Zones", you can buy the book using this link.
To connect with Jorge or to view his investment opportunities go to prereo.com or ahptitle.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Christopher Saylor is the founder and Managing Partner at Pikes Peak Capital, which manages high-return distressed real estate funds. Pikes Peak Capital buys and sells single-family residential real estate across the nation and provides a path to homeownership for low-to-moderate-income individuals. They typically look for opportunities others dismiss as too difficult or too different and have managed 4 funds with over $10M in transactions in 36 states. In this episode, Christopher discusses how Pikes Peak buys distressed properties and help homeowners stay in their homes while providing quality returns to investors.
Christopher talks about his first two funds and the strategy of buying low value single family homes that banks are not typically interested in. The firm sells the properties to low to moderate income home buyers who are often locked out of financing from banks. Pikes Peak will help them with the financing rather than the buyer going through a traditional bank and then sell the paper on the secondary market.
Christopher discusses how Pikes Peak sets up automatic screens to filter thousands of properties to find the ones they want to perform additional due diligence on. He talks about the original plan of doing all property evaluation in a spreadsheet but realized the team also need to visit the properties which they do through using services who perform this function for them.
The third fund – RDMO (Residential Distressed Mortgage Opportunity Fund)– focuses on assets from $100,000 to $750,000 and the source of acquisition is both pre and post foreclosure and NPL (non-performing mortgages). The strategy for nonperforming mortgages is to work with the borrower to find a mutually beneficial solution. After the loan is rehabbed, Pikes Peak sells the loans on the secondary market. If they can’t work out the loan with the borrower, cash is offered for deeding the property and if that doesn’t work they go through the foreclosure process or resell the loans on the non performing secondary market.
Christopher discusses Home Ownership As A Service – Pikes Peak extends financing to the borrowers and tries to ensure the borrowers are set up for success while providing financial counseling, and offering to buy the houses back from struggling borrowers.
Podcasts he recommends:
Money Talks
The RobCast
To connect with Christopher, email him at christoper@ppch.co or call or text 719-659-4576.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Lane Kawaoka owns over 4,500 rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $600 Million dollars of real estate by syndicating over $70 Million Dollars of private equity since 2016. Lane partners with investors who want to build their passive portfolio but are too busy to invest actively. He is also the host the Simple Passive Cash Flow Podcast. In this episode, Lane talks about his unique way to screen sponsors, the metrics he uses to evaluate deals and his three rules of investing.
Lane talks about how he realized that turnkey rentals were not passive, so he switched to syndications. He mentions that multifamily workforce housing is his favorite asset class because it is recession proof. He is also looking at life settlements, oil and gas, mobile home parks and self-storage facilities for future investments.
Lane relies on his network when evaluating a new sponsor and usually screens the deals before the operator, so he will not need to talk to the operators that have deals that don’t match his metrics.
Lane talks about his three rules of investing – income, leverage, and tangible value – which are all part of real estate investing. He also mentions Infinite Banking and how that can help your overall investing strategy.
Podcasts he recommends:Simple Passive Cash Flow Podcast
Real Estate CPA with Brandon Hall
Book he recommends:
The Millionaire Real Estate Investor by Gary Keller
To connect with Lane, you can email him at lane@simplepassivecashflow.com or www.simplepassivecashflow.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Bob Fraser is the Co-Founder & Principal at Aspen Funds, a residential mortgage fund. He worked in tech and in the stock market before starting his notes investing fund eight years ago. In this episode, he talks about investing in notes, his outlook for the economy, why he is not concerned about inflation and ends with a discussion on Bitcoin and cryptocurrencies.
Bob explains that buying notes is just buying mortgages on real estate. He talks about Aspen funds and how they focus on notes on single family homes. Bob discusses the difference between performing notes and non-performing notes. He explains that when they buy non-performing notes, they rehab the loans and once It’s performing again, they sell the paper.
Bob talks about the note underwriting process and why they prefer second position mortgages when they are available. He also discusses the market for re-performing loans and how they find the loans to buy. He then talks about the pandemic and how it did not have a large effect other than causing many people to pay off loans early.
Our discussion turned to the economy and Bob explains that he sees a “screaming” economy for the rest of 2021 and 2022 depending on the reactions of the Federal Reserve. He is not concerned about inflation because the economy is coming up to full capacity and discusses the factors that have prevented inflation in the past even through the massive money printing and how it expects those trends to continue. Bob explains why wages, oil and food have deflationary forces that are helping prevent inflation.
Bob discusses how he changed his views on money and is now a believer in Modern Monetary Theory (MMT). He mentioned that he is not concerned about government deficits because those have historically been reduced and eliminated by inflation.
Bob ends the conversation talking about cryptocurrencies and why he prefers Ethereum to Bitcoin and other altcoins. He also discusses proof or work versus proof of stake.
Podcast he recommends:
Invest Like a Billionaire
To get access Bob’s comprehensive 2021 Economic Forecast go to www.aspenfunds.us/resources.
Bob mentions the following book:
This Time Is Different: Eight Centuries of Financial Folly
To connect with Bob go to www.aspenfunds.us.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Paul Moore is the Founder & Managing Partner of Wellings Capital, a real estate private equity firm focused on mobile home parks and self-storage facilities. He is an author, podcaster, a regular contributor to Bigger Pockets and an experienced real estate investor. In this episode, Paul talks about forcing appreciation, speculating versus investing, and some of the metrics he looks at for mobile home parks and self-storage facilities.
Paul talks about forcing appreciation and compressing cap rates as reliable ways to increase the value of an investment. He explains what a cap rate is and how it works when forcing appreciation. He describes commercial real estate investing as buying an income stream and working to increase the income.
Paul talks about his decision to move from multifamily to self-storage and mobile home park investing because he saw there was significant undervalued opportunity in those asset classes. He likes asset classes with mom-and-pop owners because a good operator can dramatically increase efficiencies. He estimates around 85% of mobile home parks and 50% of self-storage facilities are owned by mom-and-pop owners.
Paul discusses how he diversifies by operator, asset class and market, as well as how he does due diligence and vets operators. He also talks about the advantages and disadvantages of investing in funds.
Paul talks about the difference between in investing and speculating – investing is when principal is safe with a chance to make a return. Speculating is when principal is not safe and there is a chance to make a return.
Paul discusses some of the metrics he looks at when evaluating a deal. For self-storage – he looks at the density of self-storage in an area, requires the property to be on a main road and visible from the road, and the average income for the area should be equal to average income near the facility. For mobile homes – he only looks at parks in a town with 5000 or more people, within five miles of a Super Walmart, and no private water or sewer.
Podcasts he recommends:
The Real Estate Guys Radio Show
Bigger Pockets
Bigger Pockets Business
Books mentioned on the show:
Storing Up Profits: Capitalizing on America’s Obsession with STUFF by Investing in Self-Storage
The Hands-Off Investor
Paul mentions his work fighting against human trafficking, below are the educational resources he recommended:
Nefarious
Exoduscry.com
To connect with Paul go to wellingscapital.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Gino Barbaro is one of the founders of Jake & Gino, LLC – a real estate education company. He is a principal at Rand Partners, a multi-family syndication company and a certified professional coach as well as an author and podcast host. In this episode, Gino talks about the importance of mindset, how to evaluate a sponsor and some of the metrics he uses when evaluating a deal.
Gino talks about the importance of educating yourself and having the right investing mindset – if you think you can do it, you can. He mentions he took life-coaching classes and it helped him understand you need to find your Why and your How will come.
Gino talks about how he transitioned from buying multifamily assets without using outside money to building a brand and raising capital. He discussed the importance of finding a sponsor you know, like and trust. He also mentions that to vet a sponsor you need to do the work and evaluate their track record, their business model, their reputation and maybe even go visit them and see properties they own.
Gino tells the story of the poor vetting he did when investing with a guy he calls Maserati Mike. He also discusses the Howey Test and explains how that test applies to syndications. He goes on to say some of the metrics he thinks passive investors should evaluate when considering a multifamily syndication investment.
Gino talks about how cashflow gets you out of a W2, but appreciation keeps you out. This is an important factor to consider when analyzing a sponsor and a deal.
Gino is a reader rather than a listener, but below are the podcasts from the Jake & Gino Community:
Wheelbarrow Profits
Movers & Shakers
Rand CRE Show
Multi-Family Zone
Books he recommends:
Vivid Vision by Cameron Herold
Seven Habits of Highly Effective People by Stephen Covey
Mindset by Carol Zweck
To connect with Gino, you can email him at gino@jakeandgino.com.
To get a copy of Gino's e-book, How To Share the Benefits of Multifamily Investing to Create Financial Independence, send him an email to gino@jakeandgino.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Buck Joffrey is a surgeon turned real estate professional with nearly $1 billion in real estate transactions including $400M in current real estate assets under management. He is also a financial educator focused on alternative assets. He runs a fantastic Community called the Wealth Formula Network and is host of the Wealth Formula Podcast as well. In this episode, Buck talks about the keys to forcing equity, investing in multifamily, self-storage and ATMs, and how to vet a sponsor.
Buck talks about how good students usually stay on the career path rather than become entrepreneurs and he was on that track until he discovered Cash Flow Quadrant by Robert Kiyosaki. That book helped him realize he wanted to be an entrepreneur and he followed that path which led him to real estate.
Buck discusses that the focus of his multifamily investing is not to “buy and hope”, rather to buy and force equity by increasing net operating income. He mentions that the math is simple, but you need a great operator to make it actually happen. He talks about Western Wealth Capital and their strategy to force equity and they prefer properties that are significantly underperforming which gives them plenty of room to force appreciation and provides velocity of money for investors.
Buck talks about self-storage and how the strategy of forcing equity applies there too – he mentions buying underperforming “mom & pop” properties that haven’t kept rent up or have space to build more units to add value to these businesses. He also mentions that it is sometimes easier to increase rents because the rents are lower in dollar terms than multifamily.
Buck discusses ATM’s and why they are a good investment, but not a replacement for real estate investing. The cash flow and returns are good, but the bonus depreciation is what makes the ATM investment really attractive. He also discusses using life insurance cash value or a HELOC to amplify the returns from ATM investments.
Buck talks about how to vet a sponsor and investing with sponsors that you know, like and trust who have a legitimate track records. He also talks about bridge debt and in what situations he would use it.
Podcasts he recommends:
Wealth Formula Podcast
Lex Fridman Podcast
The Portal
The Wealthabilty Show
Purple Insider
To connect with Buck go to wealthformula.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Eric is a Founding Partner of Clear Capital, LLC and an Adjunct Professor with UCLA’s Anderson Graduate School of Management. He is the host of Focus on Facts Podcast and was a guest at the May 24th Left Field Investors monthly meeting. In this episode, Eric talks about sourcing deals, abundance of liquidity in almost all markets, inflation now and in the future, wealth inequality and how all of these things effect real estate.
Eric discusses how he got his start in real estate investing in various asset classes until he got into multifamily apartments, where he has focused his efforts for the past 20 years.
Eric talks about the abundance of liquidity right now in almost all markets, not just real estate. He mentions that one of the biggest challenges is sourcing deals in the current market – and that they have to evaluate a lot of deals before they find one that works.
Eric discusses inflation and how it is a popular topic right now. He thinks inflation will be around for a year or two because of Covid causing supply chain issues combined strong demand. Longer term there are multiple trends that point to deflation.
Eric talks about the Three A’s - Amazon, Automation and AI (Artificial Intelligence) that are increasing productivity and lowering costs. He discusses how these affect multifamily real estate. He discusses housing shortages and difficulties in building affordable workforce housing and introduces the Three H’s – The Haves, Have-Nots and the Homeless.
Eric is concerned about the effect of wealth inequality on the economy moving forward – he thinks it’s the single greatest systemic risk to our country.
Eric talks about bridge debt and interest rates caps as a way to control expenses if interest rates rise and how to evaluate a sponsor. He mentions the most important metric in multifamily investing – loss to lease and its Importance in evaluating a deal.
Podcasts he recommends:
Focus on Facts
Passive Investing from Left Field
Publication he recommends:
The Economist
To connect with Eric go to www.clearcapllc.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Steve Suh is one of the Founders of Left Field Investors. He is an ophthalmologist and the host of the Healthy Eyes 101 Podcast. Steve has invested in a broad range of passive syndications including multifamily and self-storage as well as some more unique assets like underperforming resorts, coffee farms and a Broadway show. In this episode, Steve talks about how he got started in real estate and syndications, what metrics are important to him when analyzing a deal and some of the unique asset classes he invests in.
Steve talks about his first syndication in an oil and gas well that didn’t work out. He then got into turnkey investing but had multiple property managers for one property and it was not passive enough for him. After he had a loan called through the due on sale clause, he decided that active investing was not for him and he made the change to passive syndications beginning with an investment in Puerto Rico.
Steve discusses the seminars he went to and how they helped him confirm that investing passively was his future. From there, he went on to invest in multifamily, self-storage, underperforming resorts, a wellness resort, coffee farm, ATM’s, a Broadway show and more. Steve talks about his desire to invest in interesting investments as a way to keep himself motivated and involved.
Steve talks about the LFI Deal Analyzer and how it helps him evaluate the risk in a syndication. Some of his favorite metrics are debt service coverage ratio, break even occupancy, rent growth, and exit cap rate. He also dives deep into IRR and IRR Partitioning - what it is and why it is important in analyzing a deal.
Steve also discusses investing in a Broadway show and how it’s been a good performer for him and an enjoyable investment to follow and how he expects the show to bounce back after the pandemic shut down Broadway.
Steve ends with his podcast recommendations and an inspiring take on investing and the quest to build wealth.
Podcasts he recommends:
The Real Estate Guys Radio Show
How I Built This with Guy Raz
The Happiness Lab
To connect with Steve you can email him at steve@leftfieldinvestors.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Alex Breshears is a private money lender, syndication investor, community builder, military spouse and much more. She started a private lending company, Infinite Road Investments, funding first and second position loans on residential property and runs a Facebook Group called Private Lending Lessons. She is also the Fund Investor Relations Manager for Mission First Capital – a company dedicated to providing real estate investment opportunities to active duty and veteran military personnel. In this episode, Alex talks about her journey into private lending and the group she started to help others become private lenders and passive investors.
Alex discusses some of the mistakes new investors make in not analyzing their desired lifestyle and current skillset which makes it difficult to find investments that match their desires and skills. She also talks about how networking led her to private lending and has continued to help her along the way.
Alex mentions that early in her career she saw that borrowers have to always pay the mortgage lenders and realized being in the private lending business was a great way to create passive income. She used her skills to create the lifestyle desired as she knew she wanted to be in real estate, but she did not want to be a landlord or a flipper.
Alex describes the difference between private lending and hard money lending. Private lending is borrowing capital directly from the person in control of the funds and making the decisions and hard money is usually backed by a financial institution with strict guidelines and policies when making loans. She also talks about how private lending is very relationship focused and most lenders work in only one or two markets that are familiar to them.
Alex talks about the need to find an attorney who knows private lending and she talks about the typical terms and rates used by private lenders.
Alex discusses her desire to get more women involved in syndication and private lending and helping the reduce the obstacles women face financially that sometimes inhibits their ability to become passive investors.
Alex talks about her work with Mission First Capital which is a investment fund operated by military veterans that allows investors to access syndications with a minimum investment amount of $5000.
Podcasts Alex recommends:
Cash Flow Ninja
Capital Hacking
Multifamily Real Estate Experiment Podcast
To connect with Alex, go to Private Lending Lessons on Facebook or contact her on LinkedIn or at Mission First Capital.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Chris Odegard is The Prolific Investor. Chris worked in corporate America for over 30 years before going full time in alternative investments. His goal to help improve the financial lives of Americans one blog article at a time through his Prolific Investor blog. In this episode, Chris talks about how alternative investments allowed him to recover quickly from a massive “illiquidity event”, his Hierarchy of Investors and how alternative investments outperform traditional investments.
Chris talks about how he was a conventional investor most of his life until he found real estate and passive investing. He mentions that his goal is to help people achieve financial freedom so that work is a choice, rather than a necessity.
Chris likes multifamily apartments right now because of the undersupply of affordable housing. He also recommends that everyone swing for the fences in asymmetric return bets with small percentage of your portfolio. He mentioned Palm Beach Research for help in finding some of these potential opportunities.
Chris talks about some of the tax law changes for disregarded entities and how those entities are treated and the importance of a quality tax advisor.
Chris discusses his Hierarchy of Investors and the importance of insurability and leverage in his investment philosophy. He compares actual stock market returns to the returns from alternative investment including the tax benefits that really make a difference. He includes an example of alternative investments compared to a 401k for young investors and explains how leverage and tax treatment of alternative investments can vastly outperform a 401k even with an employer match. Click these links to get access to the Hierarchy of Investments and the 401k vs SFH Rental resources from The Prolific Investor website.
Podcast Chris Recommends:
Real Estate Guys Radio Show
Rich Dad Radio Show
The WealthAbility Show
Passive Investing from Left Field
To connect with Chris go to theprolificinvestor.net to schedule a 30 minute virtual coffee.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Paul Shannon is a real estate entrepreneur specializing in the acquisition of value-add, single-family homes and apartment buildings with a focus on conservative underwriting and cash flow. He is the Principal and Owner of Redhawk Real Estate focusing on providing high quality, affordable rental properties to Central and Southern Indiana communities, while providing stable and predictable long-term income to his investors. He is also a passive investor and a member of the Infielders Community of Left Field Investors and has written several blog posts for our group. In this episode, Paul talks about ditching the W-2 to go full time in real estate, overcoming the 4% rule for retirement savings through active and passive real estate investing, and how relationships and networking have helped his business.
Paul talks about how he realized the 4% rule wouldn’t work for early retirement which led him to look past traditional investments and into “alternative” investments such as real estate. He also discusses the self-limiting doubt of the possibility of losing his entire investment if he put money into real estate and how he had to overcome that in order to change his strategy and get more into “Left Field”.
Paul discusses the notion that with real estate – passive or active – one major advantage is that if you aren’t forced to sell, you can wait for the market to come back while you continue to collect cash flow during the down market.
Paul mentions when you start, the first deal is always the hardest to get into – it gets easier from there. He also talks about quitting his W-2 before he had replacement income and how the first active deal gave him the confidence to make the change even though the deal didn’t work out exactly as he planned.
Paul talks about relationships and networking and how his network helped with some of his decisions, including what markets to invest in and how important it is to find quality partners and how your partners are often the most important part of a deal.
Paul discusses his decision to invest passively for diversification of markets, but also to learn as an LP to experience how to be a GP in the future.
Podcast Paul recommends:
Old Capital Podcast
To connect with Paul go to www.redhawkinvesting.com or you can find him on LinkedIn.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Travis Smith is the Founder & CEO of Tribevest, a platform to launch an investor entity, pool capital, and experience wealth-building with friends, family, and people you trust. In this episode, Travis talks about why he started Tribevest and how the platform helps group invest together while solving for lack of capital, experience and community.
Travis discusses how group investing gets you into more deals which helps with portfolio diversification. He also talks about some of the challenges of group investing and how Tribevest assists tribes in overcoming those challenges through the Same Page report and helping establish rules of the road early in the process.
Travis mentions how a platform such as Tribevest opens passive syndication investment to more people – not just the “country club” set. The platform can help both who have money but no time as well as those who don’t have the capital but want to learn together.
Travis talks about how technology has changed the “stranger means danger” to allow strangers to interact – whether that’s through platforms like Aribnb, Uber or Tribevest. He also discusses the benefits of pooling resources such as capital, experience and Community.
Podcasts Travis recommends:
Wealth Formula Podcast
The Tim Ferriss Show
You can connect with Travis at www.tribevest.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
David Shirkey is an investor focused on operating companies in the manufacturing space, mobile home parks, high cash value life insurance and more! He is also the leader of the Michigan Investor Group, a community dedicated to sharing investment knowledge and experience with others. In this episode, David talks about the high demand and low supply for affordable housing like mobile home parks, how networking has helped his investing and the importance of vetting the sponsor and being patient before making a second investment with a syndicator.
David talks about the high demand and limited supply for affordable housing in the US and new zoning for mobile home parks is very difficult. He sees this as an opportunity for mobile home park investors. He also discusses how networking has led to him to multiple opportunities for his business including connecting him to a mobile home park operator who became his partner in a mobile home park fund.
David also talks about vetting a sponsor. He begins by talking to people in his network to see if anyone has experience with the new sponsors, then he makes an appointment to talk with the sponsor, asks for track record and often goes to meet the sponsors in person. He also asks similar questions in different ways to see if the story stays consistent. He also usually does some research on LLC’s, GP’s and partners and sometimes does background checks.
Although it is difficult to wait, David tries to wait one year after investing with a new sponsor before investing again or recommending him to his network. This way he can get a good idea of the sponsor’s reporting, procedures and returns before he commits more capital to a new deal. David also mentioned the importance of investing with full-time sponsors and to be sure you are investing with operators rather than just marketers.
David also discusses using high cash value life insurance to invest in syndications. He uses the cash in his policies as an emergency fund first and opportunity fund second. David mentions some of the metrics to look for when evaluating mobile home park opportunities.
Podcasts David recommends:
Wealth Formula Podcast
The All-In Podcast
To connect with David, you can email him at dshirkey@orbitform.com or visit the website for the Michigan Investor group at www.michiganinvestorgroup.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Kenny Wolfe is the President of Wolfe Investments and has been investing in multifamily since 2010. He currently owns over $250M of commercial real estate with 4500 units in Texas, Louisiana, Oklahoma and Ohio. He also owns commercial retail properties in three states and some ground up development as well. In this episode, Kenny talks about alignment of interest between the syndicator and the investor, investing in downtown metro areas and investing for cash flow, appreciation or both.
Kenny discusses how he bought into two passive deals to learn the ropes in order to be a syndicator and the benefits of using networking to find sponsors and to get started.
Kenny talks about structuring his deals for the long term by aligning interests with his investors by eliminating acquisition and disposition fees and not paying a preferred return. He also mentions how bringing property management in house has given him better control over managing the assets.
Kenny discusses the three different types of assets he investing in:
1. Development focusing on appreciation
2. Existing multi-family properties focusing on cash flow and appreciation and
3. Commercial triple net leases focused on cash flow.
He also has recognized that because of the pandemic, there are great deals to be had in downtown metro areas and has purchased multi-family properties and conversions in downtown Cleveland, Dallas and Atlanta.
Podcast Kenny recommends:
Old Capital Podcast
To connect with Kenny, go to Wolfe Investments or visit him on Youtube.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Ryan Stieg is a passive investor and a Co-Founder of Left Field. He owns a portfolio of 1-3 unit properties in five different markets and more than 20 syndication investments in notes, mobile homes, life settlements, crypto, self-storage, multi-family and more. In this episode, Ryan talks about how he realized single family homes are great investments, but difficult to scale which led him to develop a network to help him get into real estate syndications.
Ryan talks about using mentors and networks to help validate his investing style and decisions and how being part of a Community has helped him become a better investor. He realized that he can offset some of his weaknesses with the strengths of those in his network in the same way that he can share his strengths to help others.
Ryan discusses the five different types of return he can get from active investing: cash flow, loan paydown, taxes, appreciation and the inflation erosion of debt.
Ryan and I also talk about Tribevest and why we started a Tribe together as a way to diversify into different syndicators, markets and assets. Ryan mentions that belonging to a Tribe and a Community has helped him find new deals and new sponsors and made him a better passive investor.
Ryan talks about how accumulation of assets is less important than increasing the number of income streams – he accumulates assets that produce cash flow as a way of producing sustainable wealth. He also discusses the importance of finding sponsors you know like, and who have a positive track record and systems in place to ensure their success is repeatable.
Podcasts Ryan recommends:
The Wealth Formula Podcast with Buck Joffrey
Real Estate News for Investors with Kathy Fettke
The Brendon Show
Click this link to connect with Ryan on LinkedIn.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Dan Handford is the Managing Partner of PassiveInvesting.com. Dan is a business owner involved in specialty medical clinics, anatomical model sales, and chiropractic supply companies who got into real estate syndication to help take advantage of the tax advantages to real estate investors. His company has a multifamily real estate portfolio of over 2700 doors worth $380M and is currently closing on their first self-storage deal. In this episode, Dan talks about how to pick a sponsor, debunks the myth about tenants moving to different property types in a recession, investments with multiple share classes and his move into self-storage.
Dan discusses the importance of delegation when managing his businesses and how crucial that was when he made the decision to become a real estate investor and syndicator. He also mentions how hiring a mentor enabled him to feel comfortable with his first few passive investments. Dan is still investing passively with 38 passive investments with 14 operators. To find new sponsors, he recommends getting on as many lists as possible to see the content and deal flow from sponsors which will make it clear to you which ones stand above the others.
Dan talks about picking sponsors with a background in business and why that is important. He also discusses how in a recession tenants don’t really end up moving from Class A down to Class B or C assets, they generally move from A+ to A or B to B-, so the assets to avoid are mostly the A+ assets because there is no one to move down to those properties.
Dan discusses the two different share classes that many sponsors are offering now and that it is becoming more common because of market tightening. The Class A shares are more like preferred equity with higher preferred return, but no upside - while Class B shares benefit from the upside at sale which is magnified because the Class A shares do not participate in the proceeds from sale.
Dan mentions that they have moved into self-storage as a new asset class and that this was part of the plan from the start of their business. He has experience from investing in self-storage on the passive side, but he also hired a team of experienced operators to help find, buy and manage the assets. His team see self-storage cap rates are compressing as they are in multifamily, but self-storage has more room to run as the cap rates are currently higher than multifamily. Dan also talks about his Debt Fund which operates as a hard money lender to rehabbers and flippers and pays a 6% return.
Dan mentions an article on his website titled, The Red Flags of Apartment Investing which can be read by clicking on the link.
Podcasts Dan recommends:
Mulitfamily Investor Nation
Storage Investor Nation
Dan also shares his favorite book on passive investing: Best Ever Apartment Syndication Book
To connect with Dan, go to www.passiveinvesting.com and join the Passive Investing Club. You can also find him on LinkedIn through Linkwithdan.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Josh Satin is the Director of Acquisitions at Gelt, Inc. He is an experienced multifamily and mobile home investor involved in the acquisition of over 3300 units valued at over $300 million. He is a former Major League Baseball player for the NY Mets and Cincinnati Reds and started his investing journey while still playing baseball by working with a mentor who exposed him to passive syndication investing. In this episode, Josh talks about the importance of an experienced sponsor, understanding the expenses and knowing the story behind the markets you invest in.
Josh talks about looking at various different industries and jobs after he retired from baseball and how he kept looking until he found his passion in multifamily investing. He mentions that he had a trusted mentor that helped him begin in the business and helped develop his interest in real estate while he was still playing baseball.
Josh discusses how location is essential when selecting investments, but it’s more than just job and wage growth. The investor needs to look at the story as to why that location is experiencing growth and understand how sustainable and widespread those growth metrics are. He talks about using a rent-controlled market as a positive as it keeps competitors away and you can find success if you understand and work within the regulations in the market.
Josh talks about the importance of finding the right sponsor and how critical that is to the success of the passive investor. He mentions how important it is to understand the proforma expenses that sponsors use for their financial projections. He also cautions that many sponsors underestimate the costs to operate the property which can lead to real problems if rent growth comes in under expectations.
Podcast Josh recommends:
Cash Flow Connections with Hunter Thompson
Jomboy Media
To connect with Josh, go to josh@geltinc.om or go to www.geltinc.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevestprovides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Jeff Cook is the CEO of Cook Properties, a family owned and operated company that invests in commercial, retail, office, self-storage and mobile home parks. He began his real estate investing with single family homes in 1997 and bought his first mobile home park in 2008. In this episode, Jeff talks about the importance of focusing on what you are good at – which for his group is mobile home parks located in New York.
Jeff discusses his transition from buying single and small multi-family homes to transitioning to more commercial assets. He mentions the challenge of trying to do a 1031 exchange when selling his initial portfolio of homes but having it fail due to timing. He now prefers not to sell, rather to return capital to investors through refinancing his properties.
Jeff talks about investing in NY and how to be successful in a business climate that most regional and national operators avoid. He had to adjust the mobile park business to deal with rent control but it hasn’t negatively affected the business as they understand the market and the regulations. This allows him to run a successful business by focusing on the asset classes and markets they are experts in.
Jeff discusses some important mobile home metrics he evaluates when looking for properties and what passive investors should focus on when evaluating a deal. He also talks about other asset classes they are currently operating in and why they are looking to sell most of those assets and continue concentrating on mobile home parks. He also mentions the current mobile home park fund for which they are raising capital until May 15th.
Podcasts Jeff recommends:
Passive Investing From Left Field
The Mobile Home Park Expert Podcast
Passive Mobile Home Park Investing
To connect with Jeff, go to www.cookpropertiesny.com or send him an email at jcookproperties@gmail.com or call or text 585-233-4699.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Cherry Chen is a full time internal medicine physician. She is the founder of The Real Estate Physician – a community of physician investors focused on working toward financial independence. In this episode, Cherry talks about the importance of networking when passively investing and how her community helps investors become informed, vet sponsors and find deals.
Cherry started her community to share with other doctors what she learned about syndications and to create a platform to share what she would have liked to have known when she started. Her goal is to create a space where doctors can invest safely and with confidence.
Cherry discusses that her first objective with new community members is to help them get informed – through podcasts, books, blogs and introductory calls with her new people in her network. Her second objective is helping her community know who to trust and how to determine if a deal is a good deal worth funding.
Cherry mentions the importance of making sure that the passive investments you make match your philosophy and fit in your portfolio. She discusses that there are no secrets or shortcuts to vetting a sponsor, you need to talk with them and develop a relationship of Know, Like and Trust.
Cherry talks about how to pick a market and that she prefers stabilized value add properties. She mentions that her favorite markets are those with population growth and corporate headquarters moving to the city. She talks about the importance of doing your homework and not jumping into an opportunity without doing proper due diligence.
Podcasts Cherry recommends:
Bigger Pockets
Best Ever with Joe Fairless
The Real Estate Guys
Old Capital Podcast
To connect with Cherry go to www.therealestatephysician.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Sean Donnelly is Managing Director at a reinsurance company and is one of the founders of Left Field Investors. Sean has been a “right fielder” for most of his investing career, but found passive investing and is solidly in center field now through his new investments in passive syndications combined with his continued investments in the stock market and paper assets. In this episode, Sean talks about how he got into passive investing, the importance of a network in helping build your investing confidence and how the consistent returns of passive investing can be more attractive than the lumpy returns of active investing.
Sean discusses how his real estate journey started with an underperforming flip and progressed through owning rentals and now is focused on passive real estate syndications. He also talks about the Founding of Left Field Investors and how it is helpful having a network for finding sponsors and vetting sponsors. He mentions the importance of investing with sponsors that you know, like and trust and how critical that is to successful investing in syndications.
Sean discusses some of his favorite asset classes – some he has already invested in and others that he has his eyes on – as well as how passive income will support and enhance his retirement.
Podcasts Sean recommends:
The Way I Heard It with Mike Rowe
TED Radio Hour
We Study Billionaires
You can connect with Sean on LinkedIn or you can find him on the Left Field Investors Infielder’s Forum.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors' Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Drew Wahlgren is the Director of Capital Markets at MAG Capital Partners, a private investment firm focusing on single-tenant, net lease development and sale leaseback structured transactions. In this episode, Drew talks about how he got started in real estate and explained what an industrial single tenant triple net sale leaseback is and why it’s a great asset class for consistent cash flow with appreciation upside.
Drew talks about the consistent cashflow that starts from day one for the passive investor. He explains that triple net means that the tenant pays for all maintenance, repairs, insurance and taxes so there are very few expenses for the property owner to pay.
Drew also talks about the financial reporting requirements they have for their tenants during due diligence prior to purchase and ongoing after the property is acquired. He discusses why a company would want to sell their property and lease it back and the importance of understanding what the company plans to do with the capital acquired from the transaction. He also talks about the competition in purchasing these assets and when and how they exit a deal.
Drew discusses how a passive investor can analyze an industrial tripe net sale leaseback opportunity and mentioned the typical preferred returns and average annual returns his firm strives for and has achieved in the past. He explains that this is an asset class that has done very well in the pandemic and is expected to continue to outperform in the future.
Podcasts he recommends:
The Real Estate Espresso Podcast with Victor Menasce
To connect with Drew you can email him at drew@magcp.com or go to www.magcp.com to get more information about MAG Capital Partners.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Jeremy Roll is the President of Roll Investment Group and Co-Founder of For Investors by Investors – a Community started in 2007 with the goal of facilitating networking and education for real estate investors. In this episode Jeremy talks about giving up control in an investment in order to gain diversification and leverage the time and experience of others.
Jeremy discusses how he is currently focusing on short term investments such as hard money loans on flips and assets that do not rely on appreciation such as ATM’s. He is interested in cash flow and a quick payback period during the current market.
Jeremy talks about self storage and mobile homes as two of his top asset classes over the next ten years as well as his preference for single asset investments and when he feels comfortable investing in funds.
Jeremy discusses some of the main things to look for in the Private Placement Memorandum and the LLC Operating Agreement and his belief in the necessity of doing background checks on sponsors before investing.
Below are the links to companies he uses for background checks:
https://www.accurint.com
https://www.tlo.com/
Jeremy believes a critical component of investing success is to create your own box and make sure that the deals you invest in meet the criteria you select – if a deal doesn’t fit inside your own personal box, then you should not invest in it.
Podcasts he recommends:
Best Real Estate Investing Advice Ever Podcast with Joe Fairless
Cash Flow Ninja
Cash Flow Connections with Hunter Thompson
To connect with Jeremy, send him an email at jroll@rollinvestments.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Whitney Sewell is the Director of Life Bridge Capital and host of the Real Estate Syndication Show. He began investing in real estate to supplement his income from working in law enforcement. His company invests with a mission as they donate 50% of profits from the business to support orphans worldwide. In this episode Whitney talks about the value of mentors, sharing your passion while networking and creating value by problem solving.
Whitney discusses how he got started in real estate after learning that many people have used real estate as a wealth building tool. He started by investing in single family homes, duplexes and even a 15 unit apartment but discovered that these assets were not going to allow him to scale in the way he wanted. Whitney mentions that he learned about syndication by attending as many real estate networking events as possible and realized that syndication was how he wanted to create wealth for his family.
Whitney talks about the value of mentors and how critical it is to do your due diligence to find a quality mentor which includes contacting referrals and industry veterans to find out as much as you can about the potential mentor and the value of paying for a properly researched mentor. Whitney thinks having a mentor is critical, but your success will always come down to your commitment to the process and willingness to do whatever it takes to achieve your goals.
Whitney discusses how his success took massive dedication and how helpful it was to him to share his why and his passion with his network and investors – in his case his foundation for orphans – to help him stand out and be remembered. He also talks about creating value by solving problems at the properties.
Podcast he recommends:
Tim Ferris Show
And of course, Whitney has his own show as well:
The Real Estate Syndication Show
To connect with Whitney go to www.lifebridgecapital.com or send him an email at whitney@lifebridgecapital.com or call/text 540-585-4338.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Jim Pfeifer is one of the founders of Left Field Investors and the host of this podcast. He is a full-time passive investor and concentrates on investing in real assets that produce cash flow. Jim is committed to sharing his knowledge with others who are interested in learning a different way to grow wealth.
This episode is a replay of The DJE Podcast hosted by Devin Elder. Jim shares his journey from being a traditional stock market investor to active real estate investor until he found his current passion – passive real estate syndications. Jim also shares how he started the Left Field Investors Community with the goal of helping like-minded investors network and learn together.
To connect with Jim go to www.leftfieldinvestors.com or send an email to jim@leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Brian Burke is the President & CEO of Praxis Capital and the author of The Hands-Off Investor. He has been investing in real estate for 30 years and has been a multi-family syndicator for 19 years. Brian has purchased over $500 million in real estate and raised over $200 million from investors and has never lost a penny of investor capital. In this episode Brian talks about funds versus single asset investing, how to evaluate a sponsor and market and some red flags to look for when evaluating a deal.
Brian talks about why they have recently shifted to a fund model rather than a single asset syndication. He also discusses the importance of vetting the sponsor by asking them questions like, how long they have been a sponsor, how many deals have the invested in, how many exits they have had and how their past returns have compared to projections. He talks about the importance and challenges in trying to ascertain the content of the sponsor's character. Brian recommends that you do your research including when you hear the sponsor on a podcast or at an event – that you listen to what they are saying and determine if it makes sense.
Brian also talks about how he picks markets. He invests in markets that people are moving to and that have income growth and job growth which results in rent growth.
He also talks about some red flags to look for when evaluating multi-family syndications; including debt, default ratio and rent growth.
Podcast he recommends:
Bigger Pockets
To connect with Brian go to www.praxcap.com and accredited investors can go to www.investwithpraxis.com. Brian can also be found on the Bigger Pockets forum and on Instagram @investorbrianburke.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Josh McCallen is the Co-Founder of Accountable Equity and a nationally recognized capital syndicator, hospitality investor, turnaround specialist, conference speaker, innovator, builder & developer with a track record for the development of exceptional resort properties and growing world-class operational teams. In this episode Josh talks about forcing equity through resort investing and service that revives the soul!
Josh discusses the importance of building a Community of people you know, like and trust. This Community includes not only his investors, but also the guests who stay at his resorts as well as the employees who work there. Josh talks about how quality service and hospitality can “revive the soul” of both guests and employees and that is what they strive for at their Vivamee resorts.
Josh talks about buying resort properties and forcing appreciation by repositioning them and giving the properties a new life and a new culture. He discusses how his resorts made it through the pandemic by pre-booking hundreds of weddings and coming up with innovative ideas like an outdoor winter festival. Josh mentions that there are three ways to invest with Accountable Equity: an equity position in the resorts, heavy cash flow from EiF’s – Efficient Income Funds which includes some exposure to solar and notes through the collateralized debt fund.
Podcasts recommended by Josh:
Cash Flow Ninja
Bigger Pockets
Listen to Josh on his podcasts:
Wealth Building with Friends
Capital Hacking
Contact Josh and join his Community at AccountableEquity.com
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
Dave Zook is the Real Asset Investor and excels at finding and vetting asset class specific experts. He uses his vast network to find and vet new asset classes and sponsors and then uses their expertise to syndicate these assets for his investors. He is currently a top 5 ATM operator in the U.S., a self-storage syndicator, has a debt validation fund and invests personally in more than eight different asset classes. In this episode, Dave talks about these asset classes and more!
Dave talks about starting out as an entrepreneur and owned several businesses which resulted in a major tax problem. He used real estate investments to reduce his tax bill from $500,000 to zero and that led him into the world of real estate syndication.
When looking for new investments, Dave talks about finding the opportunity and then using a shortcut by finding the expert who has been doing it for a long time. He uses this shortcut to tap into someone else’s expertise. He stresses that the team and their track record are the two most important things when evaluating a partner. He doesn’t try to become an expert in the space, he finds the professionals in the space with a long track record of success.
Dave mentions three podcasts he likes:
- The Real Estate Guys Radio Show
- The Mike Dillard Show
- Success Habits of Super Achievers with Kyle Wilson
Reach out to Dave or ask for his asset class Reports at www.therealassetinvestor.com or send an email to info@therealassetinvestor.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
This is a preview of the Passive Investing from Left Field Podcast. You will hear clips from episodes where we interview Josh McCallen from Accountable Equity, passive investor Sean Donnelly, Drew Wahlgren from MAG Capital Partners & Whitney Sewell from Life Bridge Capital. Our first full episode will launch February 28, 2021.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.