Income Hacker with Ryan G. Wright: Recent Episodes
Ryan G. Wright
The Income Hacker Podcast is for any individual and families who are interested in fast-tracking financial success. You'll hear experts discussing topics like generating a residual cash-flow, building wealth through real estate, financial literacy, creating a family legacy, and overcoming your fears. This podcast will help you change your relationship with money to become your servant rather than your master. Listen in to discover the Income Hacking process we use to help make our dreams a reality.
A lot of investors are convinced that their state is absolutely terrible for flipping houses, but in this episode, we will putting that myth to rest for good!
Anything you do in life has an element of risk, so learning how to mitigate that risk to the best of your abilities is an extremely valuable skill. In this episode, Ryan will be sharing seven ways you can decrease your risk on fix and flips.
Where do you want to be financially in 10 years? That outcome heavily depends on what goals you set for yourself in year 1 and year 5.
Given the fluctuations in the housing market, it is time to put together a plan of action that will allow you to stay in the real estate game without sacrificing profit. In this episode, I'll be sharing my 6-month plan for REI for you to follow.
BRRR deals are becoming an increasingly popular investing strategy, and for good reason! Being a mix of fix and rentals, you can generate some major cashflows using this strategy.
The real question, though, is how do you determine if a BRRR deal will be profitable long-term?
In this episode we discussed the process of, not only finding foreclosure deals, but closing on them as well. Foreclosure properties can be a great opportunity for fix and flip investors, which is why you'll want to listen in!
Join us in discussing the realistic goal you should set for yourself in your first year of flipping houses
- How many deals you should complete in your first year
- What you need to know going into your first deal
- The process of flipping houses
Contrary to belief, investing when market conditions are less than favorable doesn't result in an immediate death sentence for your profits. There are numerous smart ways to invest during these tough times. Find out what strategies those are in today's podcast!
- Finding Tip: Vacant properties
- The nature of investing
- The different types of market conditions
- The best strategies to use depending on market conditions
Talks of a recession have been putting many real estate investors on edge, and for good reason. In this episode, we'll be discussing the different investments strategies you can utilize in the time of a chaotic market.
- Finding Tip: Auctions
- What a recession means for real estate
- The different types of recessions
- The best investment strategies during a recession
Too many new real estate investors spend time finding a deal, but stop trying to find more once they have one. They then have to start the process all over when they want to move on to the next deal. We'll be discussing how you can build a system for flipping deals repeatedly in this LiveCast! As always, stay to the end for our finding tip of the week and free tool giveaway.
- Choosing a finding strategy you can commit to weekly
- Finding properties even after you have a property
- Getting a good team to take on some respons
Quit your day job and live on your investments - that’s the goal, right? If you do this right, you can make this happen in the next 5-10 years! Today, I’ll show you the systematic plan that I use for myself, and teach to my kids, my employees, and anyone who’ll listen! In my opinion this is just as important (or maybe more important) than what I teach about fix & flips! Let’s dive in!
- How you actually have 2 jobs
- Pay yourself first
- Practical ways to save 10%
I’m going to start with this: not every property that looks good for a fix & flip is also a good opportunity for a BRRR Deal! Today I’ll show you how to decide between BRRR and a regular fix & flips based on the rehab required as well as how to complete successful BRRR deals over and over again.
- The steps to making a BRRR happen
- The numbers to check before closing a deal
- The cash flow killers to look out for
- The keys to a great BRRR deal
Your skill level, personality type, and even your investing area can change what types of real estate investments you go after! I get asked a lot about wholesaling vs fix & flips, so let’s dive into today to help you understand which types of deals you should be going after.
- The pros and cons of wholesale and fix and flips
- How to decide which strategy is right for you
When evaluating an area for investing, I typically like do research online as well as drive the area. With new technology, it’s becoming more feasible to evaluate areas remotely! Let’s talk today about how to find the best places to invest—even if it’s not within driving distance.
- The challenges of remote investing
- Factors to determine the right area to invest in
- How to evaluate a deal
The easiest way for a fix & flipper to cut down on their time to find new deals is to improve their sales skills! Getting better at persuasion means talking to fewer property owners, which means less work & time to find your next deal. Today, let’s talk about some of the main objections you’ll run into when working with a seller, and how to handle them.
- The most common objections I have gotten over the years
- The fastest way to overcome them easily
- Understand the benefits of selling to an investor
While I love fix & flips, it’s my rental properties that form the backbone of my portfolio. That monthly cash flow while increasing equity can’t be beat. If you’re planning to get into rentals, should you go for the security of more than one tenant in a multifamily home, or stick to single family homes? Let’s dive in.
- Finding Tip: Door Knocking
- The differences between a plex and a single family home
- My experience renting a multifamily vs single family
- The benefits and drawbacks of both
If you’re not careful, there are many different steps along the way to a fix & flip where you can cost yourself money. The reverse of this, is that there are many places where you can squeak out some extra profit…when you add them all up, you can easily add thousands of dollars per flip!
- Finding Tip: How to find good rental areas for BRRR
- 12 ways you can maximize your ROI
- The simplest but most overlooked way to save money
- My secret to beat out the competition when selling a property
- The type of contractors you MUST avoid
In this episode, we're going to talk about:
- Finding Tip: Pre-Foreclosures
- How to find and finance rental properties
- A word of warning for getting into rental properties
- A quick look at my management strategy to keep things running smoothly
In this episode, Ryan is going to cover:
- Finding Tip: Tax Auctions
- Having the right mindset in real estate investing
- Why I love driving for dollars as a strategy
- All the steps ( in detail) to find your first property with driving for dollars
In this episode, Ryan is covering:
- What skills do you need as an investor
- For fix and flips
- For BRRR
- For Wholesale
- How to acquire new skills or increase your skillset
In this special episode, Ryan talks with Nick Loper. He is a long-time advocate of side hustles for extra income or to get out of the corporate world and have more freedom in your life. He hosts The Side Hustle Show podcast, a top-rated podcast featuring the ideas, actions, and results you need to start and grow a successful business. Nick is also the founder of Side Hustle Nation, a resource for people to find actionable ways to grow their side business. We cover his income hacks, his tips for growing, the pros and cons of quitting your day job and much more!
Join Ryan in this week's podcast where he'll be covering:
- Finding Tip: Out of State Owners
- My secret to finding great deals in less time
- The 3 key ingredients for a good deal
- The FAST way to estimate a rehab
- What I use to make analysis so much easier
In this episode, Ryan speaks with a special guest, Scott Royal Smith.
Scott is a real estate investor and an asset protection attorney. He's spent the last several years analyzing real estate projects and working to help people protect their investments and assets. He is the founder of Royal Legal Solutions.
To receive the free resources from Royal Legal Solutions visit: https://rlspod.com/ih
Join Ryan for this episode of Income Hacker, where we dig into how much money you need to flip a property. We'll cover:
- Finding Tip: Pre-Foreclosures
- How much money do you actually need to flip a house
- The different types of flipping
- The most expensive part a house flip
- A quick and dirty budget to get you started
In this episode, Ryan covers: * Finding Tip: Understanding the Area * What is a probate deal, and why do we like them so much? * The one amazing referral source you'll need to find deals repeatedly * Quickly turn probate deals into massive profit
In this week's episode, Ryan is going to be covering:
- Finding Tip: Involuntary Liens
- Why I hate MLS properties
- My secret “MLS Sniper” approach
- Why research is what makes or breaks a deal
In this special episode, Ryan talks with Daniel Godbout, CEO, and co-founder of Foliolens. He is Senior Director, Global IT Infrastructure at Playstation. But on top of all of that, he is a real estate investor.
Ryan asks Daniel about how he got started, his process for finding properties, and what he plans to do in the future. As well as talks to him about Foliolens and how that can help landlords organize their property documents and make payments easier.
In this episode Ryan covers:
- Finding Tip: Failed Listings
- How you can create cash flow with real estate
- Seller finance - how it works and when to use it
- Finding Tip: Skiptracing
- Why wholesaling is so great for new investors
- Pro tips to make wholesaling easier
- The 7 simple steps of wholesaling
In this episode, Ryan covers the 7 secrets that he has learned over the years to increase his wealth and live a more fulfilling and comfortable life.
- Finding Tip: Pre Foreclosures
- My 7 secrets to financial success
- What it means to be rich vs wealthy
- The one rule that will make or break you
- My 5 budgets
In this episode, Ryan shares his experience getting started in real estate investing, and the process he learned along the way.
This week we cover:
- Finding Tip: Out of State Owners
- The 7 steps to flipping a property
- Pro tips in finding, valuing, and working with contractors
- How to find space in competitive markets
Tune in to this week's episode where we'll be discussing:
👉 Finding Tip: Understanding Area Stats
👉 The basic principles of choosing an area to invest in
👉 How I failed to choose the right area when I first started investing
👉 A deep dive into the specific things I look for when finding the best areas
We’ve all seen the HGTV shows where it takes 5 minutes for them to find a property to flip. We know that's ridiculous, but it's still one of the most common questions I get! How long is it really going to take to find the right deal?
With nearly 20 years in the industry, I'll show you how long it takes, as well as some of my best secrets for speeding up the process.
In this episode, we cover:
- Finding Tip: Understanding Area Stats
- Realistic expectations for finding a property
- The biggest downfall of new investors
- The main factors in find and flip timeline
In this episode, Ryan is talking about the moratorium ending and what that means as a real estate investor.
We'll be covering:
- Finding Tip: Involuntary Liens
- The process of foreclosure
- How to find a great deal with pre-foreclosures
- How to make a deal even with low equity
- Finding Tip: Failed Listing
- The 3 ways you can invest with bad credit
- The secret to investing even with bankruptcy or collections
- My base vs home run strategy
In this week's episode, Ryan wanted to talk about the difference in mindset between rich investors and poor investors. He starts by asking the question "what does it mean to be rich?" He then covers the 8 ways the rich think differently and the simplest yet largest factor to changing your financial future.
In this episode, Ryan covers his method for selling a fix and flip property as fast as possible to maximize profits. You won't want to miss this discussion as he talks about:
- Finding Tip: Knocking on doors
- The 3 elements of selling a property
- The biggest mistake I see new investors make when selling
- My recommendation for marketing a listed property
Are you ready to become a MASTER Negotiator? Then you won't want to miss this live stream! Join Ryan for an interactive chat covering How to Negotiate the Best price for a House you Want to Flip.
He'll be diving into:
- How to find people interested in selling
- The different ways to negotiate
- Questions you need to ask a seller about a property
Join Ryan for this week's Finding Tip all about Bank-Owned Homes, and then dive into the main event - Finding Deals in Our Current Seller's Market. Ryan will be covering the below topics, and much more, so make sure you stick around!
👉 The secret to finding deals in any market
👉 Why you aren’t finding deals
👉 What most people don’t understand about finding deals
👉 A step by step guide to finding a property
In this episode, Ryan visits with guest Ryan Chaw. Ryan Chaw is a pharmacist during the day and has been building a passive income portfolio over the last 5 years by buying single-family homes and renting single rooms to students.
Ryan shares his PRIME method for finding great tenants, how he lost over $30,000 on his first property and how to avoid the same mistakes, and his recommendations for how and when to get started. This is an episode you won't want to miss!
You can get Ryan's guide to real estate investing at:
newbierealestateinvesting.com
This week we're talking about the smartest ways to scale your portfolio of investment properties.
Join Ryan to discuss the lifecycle of a real estate investor, the first thing you should to get started with growing your portfolio, and how you can save time and money when investing in real estate. Also, make sure you stay tuned for the Finding Tip of the week as Ryan chats about tax delinquencies.
In this episode, Ryan talks about investing long-distance. This can be across the state, but usually people are looking to invest out of state. He shares his tips and tricks as well as the challenges you'll have to overcome when finding and doing deals where you can't visit regularly.
Today we'll cover:
- Finding Tip: Divorced Owners
- What is rent to purchase ratio
- When you should think about investing out of state
- The challenges of investing long distance
- My recommended tools to do out of state deals
Should you sell or rent out your property after flipping it? In this episode we cover:
- Finding Tip: Find a Good Rental Area for BRRR
- 13 steps to finding a good deal
- Deciding when you should rent or sell
- Questions to ask when choosing a strategy
In this episode, Ryan shares the secrets to using your personal residence to get started in real estate investing.
We discuss:
- Finding Tip: Absentee Owners
- How to use your house to invest
- What you can use the money for
- What to do if you don’t own a home
In this episode, we talk about the differences between real estate investing and speculating.
What We Discuss:
- Finding Tip: Bankruptcies
- The difference between speculation and investing
- Understanding risk vs reward Is speculation the same as gambling
- My rule for when it’s ok to speculate
In this episode, you'll learn the entire house flipping process from beginning to end.
What We Discuss:
- Finding Tip
- Pre-foreclosures
- The 13 steps of doing a fix and flip
- Setting up a map for your success
- What most people don’t take into account when starting
In today's discussion, you'll learn how to master the mindset of a successful real estate investor.
What We Discuss:
- Finding Tip - Running into properties
- The traits you need to be successful
- How failure helps you succeed
- An inspirational story of success and failure
Learn about the best types of real estate investor software.
What We Discuss:
- The #1 most important thing in real estate software
- How you can maximize your time finding deals
- The good to haves & must-haves in real estate software
Learn the process of wholesaling real estate from beginning to end.
What We Discuss:
- What is wholesaling
- The 7 steps to wholesaling
- Pro tips for building a list of buyers
- How much you can make on a wholesale
In this episode, we'll discuss what makes a good deal in real estate investing.
- Finding Tip
- Involuntary Liens
- The 4 things that make a good deal
- Common risk factors that can ruin a deal
- How to determine your profit on a property
- How to know if the price is right
As Jeff reflects back on his journey, he's discovered the 5 biggest income accelerators that have helped him on the road to financial freedom. Listen in as Jeff & Ryan talk about changing your financial vision, being able to retire, developing the right skills, spending your money in ways that create more money, and much more! Jeff is the owner of the Wealth Hacker - Jeff Rose YouTube channel as well as the blog Good Financial Cents. He's been recognized as one of the leading financial advisors by Investopedia, and writes for a variety of authority sites such as Business Insider, Inc Magazine and more!
In this week's discussion, I tell you how to build a support team to scale your real estate investing business.
What We Discuss:
- Finding Tip - Failed Listings
- How to build your real estate investing team
- The best way to find team members
- What kind of team do you need to get started
Curious about how you can invest in off-market real estate? It's a great way to get started with little money. In today's livecast I'll be giving you the complete guide.
What We Discuss:
- What is an off-market property
- Why real estate investors look for them
- How to determine equity on a property
- My recommendation for finding off-market properties
In our conversation, you'll learn the difference between residential and commercial real estate investing. Which is better?
What We Discuss:
- How many postcards to send to get a deal
- Five Different types of Real Estate
- How to find one deal and get paid forever
- How to invest in commercial property with little to no money
- Which is better for you: commercial or residential investing
What We Discuss:
- Property Finding Tip
- Skip Tracing
- Finding out your goals for investing
- My recommendation for where to start
- What you can realistically make in 5 years of investing
In this episode Ryan talks about the factors that come into play when deciding when and where to invest in real estate.
We discuss:
- Property Finding Tip- Dismissed Bankruptcy
- Real estate market cycle
- Best strategies based on housing market
- Where and when to invest in real estate
Have you ever wondered what daily life is like as a real estate investor? I break it down for you in this live conversation. Knowing what you're getting into will help you decide whether to change careers or start the process of becoming a real estate investor on the side.
What We Discuss:
- Property Finding Tip- Door knocking
- What it is like to be a Real Estate Investors Day to Day
- How to fit it in with Day Job and Family
- Hours you put in -What you do in an “average week”
In today's conversation, we discuss the ins and outs of investing for cash flow vs. flipping houses for profit. Which is better? What are the pros and cons of each?
What We Discuss:
- How to use auctions for finding properties
- Active vs passive income
- Cash flow assets
- The benefits of holding real estate
Learn what hard money is and how to get it to invest in real estate. Hard money lenders look at the asset opposed to your credit and income. What We Discuss:
- Ways to find properties
- How marketing plays a role
- Time frame expectations
- 8 ways to find properties that don't cost money
In this episode, learn how flipping houses can impact your taxes as a real estate investor. -Different Types of Taxes
- What you pay on flips
- How to save money on taxes
- 1031 Exchanges
- Depreciation
- Cost Segregation
- Investment Strategies that are tax-efficient
Learn about the 9 biggest mistakes I made in my first year in real estate. I'll start by providing a market update, which will help you make a better investment decision. Then I'll share a property finding tip.
- You'll Also Learn:
- How helping senior owners can be an opportunity
- The 9 mistakes I made starting in real estate
- How to overcome the fear of investing
Join us to learn how to analyze a real estate deal in less than 20 minutes!
What you'll learn:
- How to find REO properties
- The 3 degrees of analyzing a deal
- How to deep dive into analytics to find great deals
- Pro tips for negotiating contracts and price
Join us to learn about the 10 biggest mistakes landlords make, and how you can avoid them.
What You'll Learn:
- 8 ways to find properties that don't cost money
- Time frame expectations
- How to keep tenants for an average of 5 years (like I do)
- Maximize your profits by strategically lowering your rent
- Evaluating rental areas that will produce the best passive cash flow
- How to keep maintenance and repair work to virtually nothing
In this episode, Ryan covers how to find absentee owners, the 10 strategies for finding a great property, his recommendations for marketing, and he lays out a roadmap to finding your first (or next) deal.
In this episode, Ryan is covering the concept of driving for dollars. He'll go over the simplest way to find off-market properties, 4 elements to real estate success, how to compete with big investors in your marketplace, how code violations can help in the process, and what you should be looking for when driving neighborhoods.
In this episode, Ryan is covering finding bank-owned homes! How many leads you need to find a great deal, why postcards are something that can help you speed up your success, marketing lists to go after, the websites to find REO properties, methods for finding REO agents, and a warning about wholesaling bank-owned homes.
In this episode Ryan covers estate sales.
- What are estate sales?
- What is probate?
- 5 Ways to find estate sale deals
- How to make money using estate sales
In this episode, Ryan discusses what a pre-foreclosure is, why they are an opportunity for real estate investors, how do know if there is equity in a property, the steps of making a deal, and how you can use subject to deals to make deals on properties that have low equity.
In this episode, Ryan is discussing why you would need a business partner in real estate investing, the different types of partnerships, and the benefits of partners especially when first starting out.
In this episode, Ryan covers the ways to find properties, how marketing plays a role in the time frame, expectations on your property hunting without paid marketing, and 8 ways to find properties that don't cost any money.
In this episode, Ryan covers a highly requested topic: How to find good contractors. Today he'll be covering ways to find contractors, strategies to screen them to make sure you're hiring the right one, and how to keep them on time and on budget.
This week I'm sharing 10 things I've learned that change my financial life. Mental shifts to have money be your servant rather than your master...how to spend money with intention...and then of course to ALWAYS have your dollars be out there earning other dollars!
In this live cast, we're talking about the key to scaling your real estate, how to find properties for free, and how to speed up the process with money. We'll also be covering how many offers you need to make to get a deal and how long it should take you to find a profitable deal.
In this episode, we're covering what price range of properties you should go after, what you should consider deciding the best area, how crime plays a part, how to TARGET opportunity in these areas.
In this episode, we cover how to understand the real costs associated with a flip. What are property risks, how to decide the quality of repairs? How to give your property sizzle, tips on pricing your home right, and when and where to use regular price reductions.
In this episode we're covering the process I use to lower risk and liability, the things you should be doing in rehab to protect yourself, and what you should be doing when making an offer.
We're talking about why a rehab estimate is needed, how to make it accurate, the idea of cost ranges, the different Levels of Rehab, the simple numbers to make it easier, and case studies.
In this podcast, we're going to be covering how to determine neighborhoods and common mistakes, how to select comparables, risk factors to watch out for, and my method for pulling comps.
On this episode of Income Hacker, we're talking about what off-market homes are and why it matters. My Favorite ways to find off-market properties. How to get phone numbers for owners that are hard to find, and some ways to contact sellers of off-market properties.
In this episode Ryan covers investing in houses you have never seen, how to wholesale and fix and flip remotely, who you need on your team, how to easily finding cash buyers, and evaluating an area to know whether to invest or not.
John Bowens is with Equity Trust and joins us today to talk about making tax-free profits using a self-directed retirement plan. He talks about the differences between Traditional vs Roth IRA, ways to use money in a self-directed plan, and so much more!
This week we're taking on code violations. Let's talk about what Code Violations are, how they can KILL your profit. Also we'll touch on how you can use them to find deals and working with contractors to fix violations.
Ed Kelso is a member with DoHardMoney. He talks about his journey to becoming a fix and flipper, the challenges that he faced and how it has changed his life for the better.
In this live cast I'm going to talk with you about the time frame on a flip and how many flips you can do in a year. We'll also talk about who you need on your flip team, where you should get started, how to do more flips, and how much you should expect to make!
Today I'll be going over the foreclosure process, how to find homes BEFORE they go into foreclosure, finding homes in foreclosure that have equity. And how to structure deals that make you money.
People often ask me what's the best real estate to invest in? I'm going to talk about the 18 different types of real estate, the strategies and ways that you can invest, how you can invest in a property without having to own it, and the 39 ways you can make money with real estate.
Today’s guest is a great friend of mine, Andy McFarland. He founded 7 Figure Flipping Mastermind back in 2016. With a passion for education and mentoring others to become successful. We talk about real estate, how to get started with wholesaling, wholesaling vs fix & flip, and leaving a legacy.
Lets talk about how to find properties most people are overlooking. For rent by owner method. Easy ways to get sellers to pick up their phones and talk to you.Timing is everything contacting the right person at the right time can completely change the way you find real estate investment deals. And finally this method is perhaps the best way to find properties with NO Marketing expenses!
In this live cast I'm going to explain how you can determine and calculate whether or not you have a good rental property. I'm also going to share with you how to plan and factor for the unexpected expenses and some pro tips to deal with them. Find out what most people are missing and how to know the true cash flow from a rental property.
Remember to watch every week at 6pm EST on Youtube. Don’t forget to subscribe for reminders about future live casts and other essential investment resources.
Today I'm going to show you my tried-and-true method for determining the profitability of a rental property, the 5 ways rental properties make you rich, why cash flow should be the #1 goal. I'm also going to go over which unexpected expenses will ultimately ruin your investment. Thanks for watching, and remember to watch every week at 6pm EST.
Don’t forget to subscribe for reminders about future livecasts and other essential investment resources.
See how we can help with your real estate goals: https://dohardmoney.com/youtube-get-started
Flip faster and smarter with Investor's Edge: http://dohardmoney.com/fff-info-page
Real people, real stories: https://www.youtube.com/watch?v=eCS5wNzu6Q4
Free House Flipping Calculator: https://www.dohardmoney.com/smarter-calculations
0:00 Countdown
0:20:25 Introduction
0:32:20 Real Estate Market Update
0:40:00 Covid 19 Update
0:49:05 Rental Property ROI
1:07:08 Free Rental Calculator
This week during the live cast we talk about how to determine which areas are viable options for long-term rentals, Deal-killing factors that should make you walk away ON THE SPOT, the difference between "cheap" and a "good deal" and how Burger King ruined my first rental!
0:00 Wait Room
11:47 Intro
15:58 Swag
23:21 Housing Forecast
33:20 Covid-19 Update
41:30 How To Evaluate Rental Properties
44:00 Crime
46:20 Busy Streets
49:15 "Burger King House"
57:53 Recap
Jon has a plan. He wants to make a difference in this world. He’s devoted years of his life to help those in need where he lives. Unfortunately, all dreams, even the most selfless ones, need funding to operate. After circling around the real estate industry for years, Jon’s back at it again, with the intent to make some money as well as position himself to make an impact in his community for decades to come.
Of course, no goal is ever complete without its struggles. There’s no doubt that the process of contacting sellers takes its toll on many investors, including Jon. Thankfully, Ryan knows some ways to ease that stress. Additionally, Jon has a mountain of resources right under his nose that he hasn’t taken full advantage of yet, all in Investor’s Edge. In today’s episode, Ryan’s going to show Jon what’s under the hood with Investor’s Edge instead of just the fancy paint job.
The world is in need of more people like Jon who want to give back to the communities they live in and are willing to put in the work to make it happen. Specifically, Jon runs his own non-profit, helping children with fractured backgrounds express themselves through performance art. After hearing his story, you can’t help but want to see Jon succeed. The question is “How is real estate going to get him there?”
This week’s Coach’s Corner is packed with tons of tips on some of the leading real estate investment strategies, specifically the BRRR method and financing options with good and bad credit. Here are some of the other topics you’ll hear about in today’s episode:
- The multitude of ways to contact owners.
- Building a list of contacts.
- The concept of “skin in the game.”
- Why credit matters for BRRR.
- The “1% Rule”
“If your credit is not great...I really recommend you start working on some credit repair. The cost you have to pay to do something like that, you’ll more than save in points and interest when you’re doing deals.”
—Ryan G. Wright
Podcast Summary:
0:00 - Podcast Introduction
1:10 - Learning about Jon and how he got to this point in his life.
6:49 - What drives Jon to get more out of his life. What is his “why?”
10:40 - The obstacles in Jon’s way and how he is going to overcome them.
12:21 - Skip tracing: the underrated tool of the savvy investor.
14:33 - All the things you can do with Investor’s Edge within minutes.
15:27 - Jon’s unfortunate experience with knocking on doors.
16:59 - Ryan’s alternative to speaking to owners directly: voice broadcasting.
17:42 - Building a master list using hyper-targeted Investor’s Edge filters.
20:31 - Putting your own “skin in the game” to minimize lender risk.
22:00 - Combining different forms of financing to land “base hits” instead of looking only for “home runs.”
22:44 - The impact of your credit score and how credit repair can make a huge difference in the long run.
23:58 - Diving into the BRRR strategy and seeing if it’s a smart tactic for Jon’s situation.
29:31 - Jon talks about how today’s coaching has opened his eyes.
31:12 - Which would I rather spend to find properties, my time or my money?
31:46 - Target marketing vs broadcast marketing.
32:48 - Using the “1% Rule” to gauge future returns on a rental property.
33:34 - The ethics of setting and raising rents in blue-collar areas.
36:05 - Big picture strategies and wrapping up with Jon.
Lashauna is pretty new to the real estate world, and while Ryan sees that status as an opportunity to guide her to success, others might see that as a chance to take advantage of her inexperience. This is where wholesalers have snuck in, trying to convince Lashauna to go along with deals that are unfavorable to her. Thankfully, Ryan is here to back her up and protect her best interests. With some tips from Ryan and a little bit of practice, Lashauna can cut out some of these middlemen that are dragging her down and get straight to making profitable deals herself.
Today Ryan’s speaking to Lashauna about the best ways to navigate the market while staying wary of people who can ultimately kill a deal or cut her profit margin. As Lashauna explores deeper and deeper into the real estate world, she’s come across concepts that she’s unfamiliar with and needs to fill those gaps before she can really get her foot in the door. Ryan is here to address those and answer some of the most popular questions that are stuck in the minds of new investors.
Ryan knows that everyone you meet during a real estate transaction is out for their own paycheck, and because of that, you need to be extra careful to protect yours. Wholesalers, real estate agents, contractors, etc., each have their place in transactions. While they can be a great help at times, they can also be an enormous weight on investors’ shoulders. The trick is finding the balance, and that’s what we’re covering in this special episode of Coach’s Corner.
In addition to what we just mentioned, Ryan is also covering the following topics that can help anyone on their own investment journey:
- When to hire a real estate agent.
- Property inspections.
- Appraisals.
- Title insurance and title companies.
- Scope of work.
- Material lists and material grades.
- Project management.
“The best thing is to always put your earnest money down and give yourself as long as you can and always make it refundable. Then negotiate with the seller to get the longest terms you can.”
—Ryan G. Wright
Podcast Summary:
1:02 - Getting to know Lashauna, her story, and what motivates her.
3:34 - Ryan’s overview of wholesalers, and the pros and cons of working with them.
7:37 - Searching for a property with a real estate agent and without one.
8:32 - The ins and outs of title insurance.
9:41 - The differences between property inspections and appraisals.
12:47 - It’s almost closing time. Should I use a title company or a lawyer?
15:07 - Earnest money: ensuring that I can get it back.
16:48 - Overview of the scope of work.
17:13 - Talking about materials lists and keeping an eye on the general contractor.
18:54 - Why I should care about different grades of building materials.
20:35 - How to know if there’s a lien on a property.
22:36 - Finding value estimates, equity, comparables, and more in Investor’s Edge.
24:29 - Ensuring that you’re targeting the right areas by looking at price ranges.
25:55 - The advantages of having a project manager.
26:58 - Wrapping up with Lashauna.
Most people look at a dollar, or a hundred dollars, or even a million dollars, and think about ways they can spend it. In reality, money is so much more than just its buying power. Today, we’re talking about its investing power.
In this episode our friend and money mastermind, Chris Naugle, is going to teach you a principle you should never forget, the one thing that unites us all: people always want to make more money. Once you realize this concept, you think less about how you can spend your money, and more about how your money can be a problem solver for others, and that’s where your money can start to grow.
Today’s guest has a whole laundry list of titles, so long that it’s hard to pin him to just one thing. He’s a former professional snowboarder, financial advisor, and a stock broker, managing millions in assets. He has been featured on HGTV Risky Builders, he’s made hundreds of real estate transactions, and so much more.
It’s time to stop “playing it safe” by hoarding every dime you have in the bank. It’s time to make your money work for you.
“The only way anyone can ever fail at anything is to quit….Every single successful person I’ve ever surrounded myself with has failed. And if they haven’t failed, they haven’t succeeded….You will learn more from each and every failure than you will ever learn from a success.”
—Chris Naugle
Podcast Summary:
1:46 - Chris shares his story about the ups and downs of investing, and the roller coaster he’s gone through to achieve his dreams.
4:17 - Surrounding yourself with financial masterminds: Chris discusses how he gains knowledge and mentorship from those he looks up to.
6:02 - What happens when you ask a billionaire what they do with money? The truth about how money really works, and living the big lie.
7:55 - The secret of millionaires and billionaires: help people make money.
10:06 - Your money is bored in the bank. It should be working for you.
11:51 - Chris’s first income hack: using his childhood network to fund his dreams.
13:15 - First income income hacker mistake: impulsive investing without research.
14:34 - Chris motivates listeners to defy the fear and embrace failure.
16:49 - Debunking “Instagram” success stories.
19:03 - Freedom starts at the end of the road; Ryan calls it “reverse engineering your success.”
20:34 - HGTV’s illusion of reality. Real life deals don’t make for good TV.
24:08 - Chris’s biggest income hacker success: helping his mom use her money wisely.
25:29 - What would Chris do if he had to start all over?
26:13 - Teaching financial principles to the next generation.
28:18 - Wrapping up questions with Chris.
Link to Chris’s free training: moneyschoolrei.com/tmmm
Think and Grow Rich by Napoleon Hill: https://www.amazon.com/Think-Grow-Rich-Landmark-Bestseller/dp/1585424331
Chrisnaugle.com
https://www.facebook.com/ChrisMNaugle
https://twitter.com/thechrisnaugle
https://www.linkedin.com/in/chris-naugle-8b408a25/
“The problem in America is not what people don’t know, the problem in America is what people think they know that just ain’t so.” —Will Rogers
No business owner has ever made it to the top without having to overcome hurdles along the way. That’s a lesson that Jennifer and Brian know all too well after having faced their own hardships before starting their own legal services firm. In today’s podcast, we’re covering the ideas that many people harbor in their minds that keep them from taking the next step in their career. Brian and Jennifer break down the various motivators in our lives, and how a simple shift in mindset could change millions of lives.
Today’s a unique podcast because we have two special guests, the founders of Leafy Legal Services and hosts of The Leafy Podcast, Jennifer Gligoric and Brian Price. This duo has dedicated their careers for the last 20 years to helping business owners, including real estate investors. Their latest endeavor was built with a passion for protecting those business owners and their assets from the cutthroat industries that they operate in.
Between Jennifer and Brian, we’ve got a lot to discuss, and there are many pearls of wisdom to take from each of them. Their goal is to inspire people who want to start a business to start now and for those who’ve done it and are struggling to use these trials to their advantage. Some of the highlights you won’t want to miss include:
- A poverty mindset vs. an opportunity mindset.
- Internal vs. External motivation and confidence.
- Staying positive, even through tragedy.
- Separating yourself from your business using an LLC.
- The best lawsuit is one that never happened.
- If you have something to give to the world, do it now.
“True confidence is actually an internal thing. You shouldn't really need anybody else’s approval...That’s very fleeting. Until you have your own internal confidence, you’re never going to be truly grateful...no matter how much you accumulate.”
—Brian Price
“Your biggest mistakes are sometimes your biggest launchpads.”
—Jennifer Gligoric
Podcast Summary:
2:25 - Brian discusses the tipping point in his real estate career: losing everything during the 2008 crash.
4:20 - Expectations vs. reality: what really happens when I “lose everything”?
6:04 - Jennifer’s inspirational story. From moldy bread to living fearlessly.
10:17 - Reaching for satisfaction instead of money. Hint the answer is gratitude.
11:38 - Do I generate confidence internally or externally?
14:48 - If you’ve ever wondered why some people just radiate positivity, here’s why.
16:40 - Asset protection: Brian covers the how and the why.
19:42 - Jennifer explains how Leafy Legal protects business owners from threats to their assets and operations.
23:55 - How “arms length” clauses can be applied to real estate.
26:43 - Brian’s first income hack: springboarding his career with affiliate marketing.
27:50 - Jennifer’s first income hack: investing her time into becoming a certified coach, plus writing a book.
30:26 - Jennifer and Brian talk about their biggest successes.
33:13 - Biggest piece of advice for income hackers: no contribution is too small toward your future goals.
34:47 - Even the most successful people started out where you are.
36:38 - “Overnight success” is really years of work behind the scenes.
38:24 - How can we share our financial knowledge with our posterity?
41:24 - Wrapping up questions with Brian and Jennifer.
Resources:
Who Moved My Cheese?
https://www.amazon.com/Who-Moved-My-Cheese-Amazing/dp/0399144463/
How to Win Friends and Influence People by Dale Carnegie:
https://www.amazon.com/How-win-Friends-Influence-People/dp/8189297813
The Entrepreneurial Ethos by Jarie Bolander:
https://www.amazon.com/ENTREPRENEUR-ETHOS-Inclusive-Resilient-Entrepreneur/dp/1634925505
Slack App:
https://play.google.com/store/apps/details?id=com.Slack&hl=en_US
Waze App
https://www.waze.com/apps
Free E-Book - Asset Protection Basics for Real Estate Investors
https://go.leafyassets.com/ap-ebook1
Shondreka has the passion to make it in the real estate investment game, but does she have the tools to get her there? Ryan takes on the role of mentor in this episode of Coach’s Corner to see if he can get her one step closer to those real estate dreams.
When starting out, every investor is going to have some gaps in their real estate knowledge that can delay them on their path to that enviable first deal. Shondreka herself is a realtor, so she’s very familiar with the market, but she still finds herself stuck in the fine details from time to time.
Shondreka needs the skills to determine if a certain property is profitable before she invests, which may be more difficult than you think. Ryan takes her through the process of finding, valuing, and estimating rehab costs to clear up that picture, so she can use her time more efficiently and be confident in her deal making.
This episode gives insight not just to Shondreka, but to viewers everywhere on the following topics:
- The different types of comparables.
- Natural barriers.
- Investor’s Edge software.
- Scope of work.
- Contractors.
- Off-market properties.
“Finding the property is the whole job here. The great thing about it is the people who aren’t willing to do the work never make it. The secret to success is putting in the time to do the work religiously.”
—Ryan G. Wright
Podcast Summary:
1:22 - Getting to know Shondreka, her unique situation, and her goals.
4:46 - Explaining the benefits of the BRRR strategy.
6:46 - Shondreka talks about her barriers to becoming the investor she dreams of being.
8:00 - Ryan talks comparables, and how these help you narrow down the real market value of a property.
14:44 - A word of caution regarding overlooking comps and underestimating natural barriers.
16:26 - Finding properties and the advantages of using Investor’s Edge.
17:06 - What to do when a valuation ends up breaking your expectations.
19:10 - Putting a property under contract.
20:28 - The best way to find your next contractor.
22:48 - Diving into Ryan’s best methods for finding properties outside the MLS.
23:47 - Skip tracing: contact info in the palm of your hand.
24:48 - Why off-market properties (i.e. for rent by owner) are better than traditional properties (i.e. for sale by owner).
26:42 - “We’re selling stuff, not the property.” Narrow your leads on estate sales to yard sales instead.
28:06 - You’re the fixer: becoming a real estate problem solver.
29:30 - Choosing your favorite two options to reach out.
31:59 - Finding the property is the whole job. Time is the secret to success.
Your mind can either be your best tool or a prison cell, and it’s all up to you.
While the world tries to make its impact on us, the brain is our personal vehicle for making an impact on the world. Life hits everyone hard, and it’s not brute strength that gets people through these challenges, but a level head. We discuss with motivational mastermind, Trey Downes, what mental skills are needed to break these chains and turn unrealized dreams into thoughtful action.
Trey Downes, our special guest today, is the host of his own podcast, Your Superior Self, designed to spread his insights on life improvement and conquering your mind.
In today’s podcast, we’re discussing the essential components of motivation, and the reasons why true success only comes to those who show dedication. The biggest takeaways from our discussion include:
- Bringing awareness to your self-constructed limitations.
- Why you need to surround yourself with positive influences, even if they’re miles away.
- The daily habits that translate into a positive mindset.
- The benefits of reading that go far beyond the text.
- How comparison becomes the thief of joy.
- Routines: the greatest limiter to creative potential.
“Whenever you start anything, you’re not going to be the best. You have to work your way up. You have to realize that the reward isn’t at the end…The reward is in the journey. The reward is finding out what you’re truly made of.” —Trey Downes
Get ready to start seeing the world a bit differently.
Podcast Summary:
01:35 - Trey discusses his own path to overcoming circumstances and fostering a mindset of awareness.
03:43 - How can I surround myself with positive influences when my circle is so small?
04:46 - The value of creating and listening to podcasts.
06:42 - I want to change my mindset. Where do I start?
09:30 - The habits that set you up for success.
11:46 - The right book will change your life, so never stop reading.
13:05 - Your true self: turning a person with potential into a happiness powerhouse.
16:09 - Separating expectations from reality, the “hack” from the work.
19:47 - Finding joy and filling in the part of your life that feels missing.
21:16 The path to restructuring your mind—thinking outside of the box.
24:13 - Trey’s income hack: it’s all in your head, positivity, vulnerability, and authenticity.
26:29 - Trey's income hack mistake: there are no shortcuts in life.
28:16 - Fun questions and wrapping up with Trey.
In today's digital world, the question investors are asking has moved from "Should my business have a website?" to "How can I build a website that best complements my business?" Anyone can build a website in a matter of hours, but what's less common is a website that can make a real impact and stand out from the rest. That's where the pros come in. Today, we discuss with our friend and website guru, Jessey Kwong, the foundational principles of web design that all investors should know,
Our guest today, Jessey Kwong, is the founder of REI Conversion, a company dedicated to helping real estate investors jump-start their own websites and take their investing careers to new heights. With his help, investors can build their own investing system, one that they can be scaled and automated into the future. He's also the host of his very own podcast, REI Conversion Podcast, where he shares his own tips and tricks on driving leads and expanding your investing toolkit.
In today's podcast, we're discussing how investors can improve their websites and take advantage of everything the web has to offer. Some of the highlights include:
- Choosing a developer you can trust.
- The general costs of building a website.
- The potential that websites offer companies that struggle to find leads.
- How to more effectively communicate with your website visitors.
- Headlines, website space, SEO, and designing the perfect online form.
"There are tens of thousands of new websites coming up every day. You still need to be doing your basics...You still need to be networking. You still need to be doing whatever you can to get in front of as many eyes as you can. And having a website is just another avenue to get in front of their eyes, but it happens to be a very convenient one." —Jessey Kwong
Podcast Summary:
02:03 - What are my options and what are the costs for building a website from the ground up?
04:57 - The advantages of having a website in today's investing market.
06:32 - Ways to drive traffic to your website and using traffic to generate leads.
08:33 - The common pitfalls that keep investing websites from reaching their potential, starting with the headline.
12:05 - Minimizing the amount of resistance to the end goal and optimizing your on-site forms.
15:15 - Maximizing your space "above the fold."
16:01 - The complexities of website SEO.
17:11 - The power of testimonials and the ideal time to ask customers to give one.
19:00 - Jessey's first income hack: starting an Ebay business.
20:02 - Jessey's biggest mistake and biggest win throughout his career and the lessons these taught him.
21:35 - Jessey speaks to IncomeHackers with his own pieces of advice.
22:46 - How Jessey would start over from scratch if he had to.
23:26 - What the next generation needs to know about real estate investing.
24:44 - Wrap up questions and getting to know Jessey better.
Episode Resources
REIconversion.com
resource.reiconversion.com
- How to make more deals
- How to structure deals
- How to find the money for deals
- Knowing when your exits are
Josh Elledge is the creator of Up My Influence as well as theauthority on getting good deals on everything you buy. In this episode, he and Ryan talk about how to get great deals shopping for food... how to cut your bill in half... how to lose weight while couponing... and more!
In this episode, I coach Joe, a new investor who's got a concrete plan but hasn't been able to get deals done. Listen in as we talk about:
- His 5 year plan to own 5 homes
- How many offers to make in order to find a killer deal
- Working with agents and off-market properties
- When to get discouraged vs when to just work harder
- BRRR strategy!
Coach's Corner with Joe:
- 5 year plan to own 5 homes
- How many offers to make in order to find a killer deal
- Working with agents and off-market properties
- When to get discouraged vs when to just work harder
- BRRR strategy!
Today we'll talk about the opportunities out there during the current COVID-19 crisis. See what Ryan plans to do to still grow and profit while most people are content to wait this out.
Zachary Beach has done over 100 real estate deals in the past 3 years with none of his own money or relying on his own credit. He's a coach,m podcaster, and author.
Listen in as Ryan and Zach talk about:
- Doing deals with creative financing in your market right now
- How to get 3 different paydays on a deal
- Zach's 2 favorite sources of motivated sellers
- Do deals with no money, bad credit, and no investor capital
Our guest today was born in the Philippines, moved to the US at the age of 17, and has now acquired 21 multi-family units (with 6 more under contract). Listen in as they talk about:
- How to put together contracts on a deal
- How he acquired his properties so quickly
- How to find & vet contractors
Mitch Stephens has bought over 100 houses for 22 straight years and runs his business with his wife and daughter. He’s since gotten into boat and self storage, and has written 3 books.
Listen in as Ryan and Mitch talk about:
- How to use a little-known technique called “owner financing”
- How to make money up-front but also monthly cash flow on the back end
- Mitch’s favorite strategies for finding new deals!
M.C. Laubscher is the creator and the host of the popular and top-rated business and investing podcast, Cashflow Ninja and a brand new podcast, Cashflow Investing Secrets.
M.C. is also the President of Producers Wealth, a wealth creation firm helping clients in 50 states implement holistic wealth creation strategies.
M.C. believes that everyone should be their own bank and invest for cashflow today to achieve freedom of time, money, relationships and purpose.
Cashflow Management, Infinite Banking and Cashflow Investing
Free Video Course at yourownbankingsystem.com
In this episode, Ryan discusses how market changes can impact her investment decisions.
If you’ve been looking for your WHY? look no further than today… Coach’s Corner is on your way! Income Hackers welcome to Coach’s Corner, the show where you get the chance to experience a LIVE personal coaching session with people from every background at any stage of their real-estate careers.
Today, we will learn why having a big amount of cash doesn’t guarantee you any freedom, and what you really need to have in your life: cash flow. Plus, choosing the correct strategies to achieve perfect deals and have an awesome network as we enter the real estate market, which takes time and effort.
Kathleen’s biggest dream is to achieve financial freedom to pay her debt. For the past 15 years, she has managed to build her dream house in the countryside from scratch, and she will tell us all about the process. In this episode, we will talk about wholesaling and how it allows you to close deals without getting your hands dirty as you would do in rehab; the correct way to knock on doors, shake off your fear to cultivate a relationship with a possible client and other recommendations related to investing in auctions. Come have a chat with us and find out the reason to never buy out of your home state unless you have someone managing the project for you.
Kathleen’s background:
- Kathleen has experience working with doctors and lawyers mostly. She currently works as a private care provider.
- Over the last 15 years, she has managed to build a house from scratch on her own.
- She has rehabbed two properties and she is not afraid to do things herself.
- Kathleen thinks one of the hardest parts of rehabs is finding a contractor.
- Kathleen wants to achieve financial freedom to pay her debts.
Podcast summary:
- 01:44 - How Kathleen worked two jobs to build a house from scratch.
- 06:11 - How a rehab job allowed Kathleen to build her dream house in the country.
- 19:58 - Kathleen’s goals: achieving financial freedom gaining experience and paying her debt.
- 24:32 - The importance of cash flow and finding the ideal strategy to start a real estate investing career.
- 27:27 - Reverse amortization: how to find a great wholesaling deal.
- 33:08 - How to approach homeowners and the reasons why they could be thrilled to sell their house.
- 37:21 - Two steps away from getting started: deciding on a neighborhood and a strategy.
- 40:28 - Why you could participate in a private auction even as a real estate beginner.
- 42:11 - What to do if you have found a property but didn’t find an investor.
- 44:47 - On out-of-state auctions and why they are only suitable for BRRRR deals and land flipping.
- 46:06 - A bumpy ride ahead: why consistency, patience and hard work are key to success in real estate.
Episode Resources
94 Ways to Find Deeply Discounted Real Estate by Ryan G. Wright
Investor’s Edge real estate investing software.
If you’ve been looking for your WHY? look no further than today… Coach’s Corner is on your way! Income Hackers welcome to Coach’s Corner, the show where you get the chance to experience a LIVE personal coaching session with people from every background at any stage of their real-estate careers.
Today, we will learn from a 29-year old IT specialist new strategies involving wholesale, fix & flip, single-family construction and fractionalized rentals. Learn with us the importance of finding a sponsor to find the property and sign the loan you need to buy any property on the market and be extra careful about purchasing an overpriced property.
Since Patricia was in college, she worked in a full-time job, and eventually, she managed to own not one but two properties; she used to live in one and rent the other, but right now, she only owns her home in Kansas City, Missouri. Her biggest dream is to live free from financial expenses and debt, but she is stuck finding good deals. We learn with Patricia the equation to find great homeowners: motivation + equity. Stay with us as Ryan exchanges ideas and recommendations to hack Patricia’s income!
Patricia’s background:
-
Patricia was born in Wichita, Kansas, but now resides in Kansas City, Missouri.
-
She has been an IT specialist for 29 years and is looking for something to sustain her and her retirement.
- During her college days, she would also work a full-time job.
- At a certain time, she owned two properties. She lived in one of them and rented out the other one under Section 8. Currently, she only owns her home.
- Patricia’s WHY: “I want to be free from all financial expenses and debt.”
- Her strategy involves wholesales, fix & flips, and single-family construction.
- Patricia is stuck in finding actual good deals, her last one left her feeling pretty discouraged.
- She was involved in a deal where the seller backed off, didn’t pay any damages and her attorney still collected his fee, so she ended up losing a lot of money.
Podcast summary:
04:05 - Breaking even from a property, the Section 8 Program, and troublesome tenants.
06:20 - Retirement without debt, traveling across the world and real estate overseas.
10:24 - The opportunities that real estate type syndication offers without having to bring a lot of money to the table.
13:29 - Buying properties (tenant included), and how to triple your cash flow with a single-time investment.
16:54 - The first deal is always the hardest: how to stay motivated and keep looking for deals.
19:01 - How Patricia has been looking for properties and the importance of not putting all your eggs in the same basket.
27:08 - Finding the great deals: motivation, equity and how to approach possible property sellers.
31:31 - Going after off-market properties: why you shouldn’t underestimate the power of door knocking, call making and mail sending.
34:12 - How to build your list even when you’re working a full-time job.
Resources:
Investor’s Edge real estate investing software.
As we get involved in the real estate world, we start tasting the sweet taste of it: we discover the benefits and rewards it has to hack our income and we get amazed on how fast it can transform our environment, our perspective, and our network skills. Our today’s guest is Adam Adams, and he is here to share with us the uniqueness he sees in real estate, and how he manages to fix & flip on a much larger scale.
Adam started investing in real estate almost 15 years ago: After repositioning his first apartment community back in 2007 duplicating its value in only 12 months, he bought the first apartment building, leading him to walk the path he is walking today. For that moment on, he knew everyone has the big chance to scale up in real estate (even using someone else’s money) and discovered the uniqueness and power this asset class can bring. Above all, Adams has educated thousands of investors through real estate conferences, radio and podcast interviews including the Best Ever Show, Investor Army and the Investability Podcast.
In this episode, our guest shares with us property classes from A to D and the differences among them, what can happen to rents if a downturn occurs and where you want to be investing time and money if this occurs. We learn from Adam how to get involved in multifamily investing and the secrets to shopping the right properties. He’ll show us what a midterm engagement is and how to achieve the ultimate goal: selling that property. Learn to manage modeling occupancies and vacant units on the same building in this episode of Income Hacker.
“In real estate, you have the opportunity to scale up, even with others’ money. Being able to get into something with nothing down, I’ve never seen that with other asset classes besides real estate.” - Adam Adams
Podcast summary:
02:24 - The uniqueness of real estate and how Adam bought his first triplex with none of his money.
05:16 - The market crash and why Adam opted for the multifamily way.
08:41 - The boom before the bust: how a downturn affects rent prices and vacancies.
12:40 - Property classes: the A, B, C, and D is for drugs.
16:29 - How to raise 5 million USD like it’s no big deal while fix & flipping 200 units at a time.
22:00 - How Adam manages remodeling, occupancies and vacant units on the same building.
24:00 - On comparables, the importance of management teams, and how Adam always feels confident to fill a 22% vacancy.
27:00 - Secret shopping: how Adam does his research and obtains relevant data from other properties.
29:12 - A midterm engagement and the ultimate goal: selling the property.
31:25 - The eight roles and how you can get involved in multifamily investing with or without capital.
41:19 - Why Adam would start a podcast to keep adding value to others but still wouldn’t change a thing.
Connect with Adam
Check out Real BlueSpruce’s Website
Follow Real BueSpruce’s Facebook Page
Contact Adam through his Email
Real Blue Spruce’s contact info
Episode Resources
Rich Dad Poor Dad by Robert T. Kiyosaki
We are all different: For some of us, it can be more than evident what our biggest passion is. Some may discover it at kids, and others might take a bit longer… but in between, there can be many, many places where we can seek for that sparkle missing in our lives. Our guest for today has been everywhere: he was a TV sports anchor, ran sports videography and recruiting business, got into the health and wellness world, fundraised for K-12, and more. But without knowing, Kyle Stanley found himself investing in real estate, here's why: he has been using Airbnb as a vehicle to pay for his mortgage for years.
If you think sales is a horrible thing and still want to hack your income, you better change your mindset right now. Kyle Stanley has been house hacking through Airbnb since 2014, using it to rent our private rooms inside his house. He is sure renting a room can significantly help you get some extra cash. Six months later, Kyle’s mindset changed and he realized he didn’t even have to own the real estate, but he could rent it out without owning it.
In this episode, we chat with Kyle about his background and why everyone is an innate salesperson, his big income hacking secret and how a mindset shift improved his real estate game. Plus, all about Airbnb, how to become an expert in the application, automate your Airbnb in a month and stay on top as a Super Host forever. Stay with us as Kyle shares his secret shopping list and furnishing budget, how to prepare everything for that very first Airbnb guest, and why that move can change your life forever.
“Once I got out of my comfort zone and understood the potential of Airbnb, big things started to happen.” - Kyle Stanley
Podcast summary:
02:47 - The hardest part of getting started and how Kyle made his first real estate dollar in just four months.
07:10 - Kyle’s background and why you are an innate salesperson.
09:45 - Kyle’s big income hacking secret and how a mindset shift improved his real estate game.
16:50 - A thousand dollars per property and Kyle’s golden double income hack.
20:26 - The Airbnb hoarder: how to become an expert and automate your Airbnb in a month.
23:13 - How to stay on top as a Super Host and Kyle’s thoughts on remote and local Airbnb managers.
25:09 - Why Kyle truly trusts Airbnb and how they can help you if a guest damages your property.
28:24 - Looking up the city’s rules, finding the perfect location and how to build a powerful cash-flowing machine.
31:40 - Kyle’s 100 USD filter and what you should do before sacrificing your Airbnb.
35:26 - The Cash Flow King: how to sell your work to landlords and close a juicy deal.
42:36 - Why Kyle is not looking forward to the amateur competition.
43:55 - Kyle’s shopping list, furnishing budget and preparing everything for that first Airbnb guest.
Connect with Kyle
Follow Fearless Flipping on Instagram - @fearlessflipping316
Check out Kyle’s Shopping List.
Book your 15-minute consultation with Kyle.
Episode Resources
How to Win Friends & Influence People by Dale Carnegie
Selling With Noble Purpose by Lisa Earl McLeod
‘Money is our biggest obstacle in life’… if you have been feeling this way, take a deep breath, and prepare, because your struggle days may come to an end today. Sometimes it’s a bit complicated to end a troubled relationship with money, but it’s never too late. Today we are learning all about wholesaling and how you can do it regardless of any credit, income or job. Our today’s guest wants to help every real estate wholesaler to scale his or her business up to 7 figures, and if you are wondering how, it’s time to meet James Hodges.
After traveling doing mission work around the world with his wife for 3 years, James began his entrepreneurial journey as a personal trainer, and soon realized that real estate wholesaling was his biggest passion. Within his first year in business, James made $1.1 million in profit along with his partner and found out that they were more productive and effective when they focused on something specific, so they stopped expanding on other areas and started specializing and becoming experts on wholesaling deals exclusively.
In this episode, James shares with us how wholesaling can and will take time, effort and money, but the more consistent you are with your goals, the faster you will achieve them. James knows exactly the true value that wholesalers bring to their clients, how to track and measure results of the activities you make to scale your business up, and why creating marketing systems for real estate investors, like his mentorship program REI Game Changers, is essential.
“The biggest mistake most people make when starting a business venture is underestimating the level of action that it is going to take in order to succeed.” - James Hodges
Podcast summary:
(02:39) - The Wholesale Genius and the three primary ways to close a wholesale deal.
(07:46) - The volume-focus ratio: becoming an expert at making a lot of money.
(11:25) - James on how to get started: learn and take action.
(15:30) - Investing money, effort and time to get started and James’ secret to doing it right.
(19:46) - From zero to 2 million: how James’ life exponentially changed when he entered the wholesaling market.
(23:45) - On agents and silver plate deals: why you won’t be talking too much to agents in wholesaling.
(27:52) - Why James advises you to be consistent and to track your results if you want to scale.
(30:36) - Marketing avenues and James’ choice for the starting wholesaler.
(36:11) - James’ first income hack: one Facebook funnel and a 2,500 USD return.
(41:59) - Setting goals, resetting mindsets and sending letters to yourself: James’ achievements in his income hacker journey.
(44:36) - How James started a wholesaling business with 1000 USD in his pocket and made millions in 18 months.
(46:13) - Rejecting oblivion and leaving a legacy, this is why James does this.
Connect with James
Follow James on Instagram
Follow James’ Business Facebook Page
REI Game Changers Official Website
Episode Resources
The 10X Rule by Grant Cardone
Think And Grow Rich by Napoleon Hill
As you dig into the real estate world, you may discover a huge amount of details you should’ve learned years ago and got frustrated. But stop worrying so much, because as we learn new amazing income hacks each episode, we come across wonderful guests that help us all have a clearer view of what, when and where we should make our first steps to hack our income. Meet Dustin Heiner: A real estate rental property investor who had the capacity to make enough passive income from his business and quit his job when he was 37 years old.
Dustin is the Founder of Master Passive Income, a blog and podcast about investing in real estate rental properties. A husband and father of four children, Dustin supports people who want to quit their jobs and invest in rental properties to achieve their dream lives. Through his courses, programs, videos, articles, and podcasts, Heiner is showing more and more people how to stop being scared of losing money and investing and find good rental property deals.
In this episode, we will learn from Dustin when is the right time to buy rental properties, why this allows you to live from the money your own properties generate and some of his favorite strategies to buy, fix and rent. Plus he shares with us the three steps to get started in rental properties that led him to now own 32 houses. Stay with us to discover how Dustin hacked his income, and the huge importance of teaching your kids the value of money, savings and giving back to generate a positive impact in the future.
“You are worth so much more than anybody could ever pay you.” - Dustin Heiner
Podcast summary:
02:38 - How to live from rental properties and how Dustin now owns 32 houses.
04:51 - Why everyone could get started in real estate investing just by finding the right strategy.
06:54 - The three steps to get started: Clean, Increase and Build.
11:25 - The power of quick wins and to-do lists.
15:41 - Going out there and overcoming fears: out-of-state investment.
19:13 - Why Dustin is not worried about what could happen to the market.
22:44 - From reseller to employee, to investor: Dustin’s first steps as an income hacker.
25:02 - Not knowing things, belonging to the wrong funnels and not getting a coach: Dustin’s biggest mistakes.
27:58 - How to build an empire from scratch by house hacking.
30:48 - How not to raise rich kids, but income hackers: teaching your kids the value of money, the importance of saving, giving back and their roles as providers in their family.
37:19 - 20K properties and tips from Dustin to help you find one.
40:29 - Dustin’s why - ‘I never want to work a job again’.
Connect with Dustin
Follow Dustin on Instagram
Follow Dustin on Twitter
Connect with Dustin on Linkedin
Follow Master Passive Income on Facebook
Check our Dustin’s FREE Real Estate Investing Starter Guide
Episode Resources
Rich Dad Poor Dad by Robert T. Kiyosaki
The Richest Man in Babylon by George S. Clason
How to Win Friends & Influence People by Dale Carnegie
Evernote
We know there are tons of useful things that we should’ve learned when we were kids, like personal finances, time management, or learning to save money instead of spending it all. However, when it comes to designing and achieve plans for the future to live a joyful life, today’s guest Paul Adams, is here to make sure that you have enough tailored solutions to plan and achieve your current, bright and future goals.
From Everett, Washington, CEO & Founder of Sound Financial Group, Paul focuses on helping clients define and reach unique and tailored financial goals to improve their lives. Paul is also a financial coach, accomplished speaker, and conference panelist. He has published financial text guides like Stop Burning Your Money and has been interviewed by Forbes, Entrepreneur, and Inc. Paul enjoys traveling, hiking, spending time outdoors with her wife and kids, and hosts his own podcast: Your Business Your Wealth.
In this episode, we will learn the importance of language when it comes to designing and building a good life; how to build your own strategy instead of following someone else’s; why you need to stop saying ‘I can’t afford it’ and start saying ‘It would break my strategy’ and learn patience to achieve awesome results in the long-term, instead of going for short-term gains and realizing it’s too late. Above all, Paul is here to share his knowledge and passion for helping others maintain healthy balance sheets and better steward their finances.
“People get their future by default, not design.” - Paul Adams
Podcast summary:
(02:53) - Money is not everything: designing your personal, professional and financial future.
(05:59) - The thief of all joy and why you may be going the opposite direction from what really matters to you.
(10:42) - Managing expectations: how to design your lifestyle without shooting too high.
(13:32) - Why a “produced dissatisfaction” and treating yourself is not letting you achieve financial goals.
(17:44) - No wonder you are afraid of retirement: why you should pursue financial independence.
(21:27) - Not breaking your own strategy and how your choice of words can impact the people around you.
(27:08) - Paul’s income hack: funding a life insurance policy, bank style.
(29:35) - The 2 million loss: what Paul wants you to learn from his mistakes.
(33:44) - Acknowledging the value of the real estate underneath you and why you won’t achieve financial independence by selling your business.
(35:36) - What you own versus what you owe: achieving a strong balance sheet.
(37:39) - Feedback loops, short term satisfaction and attempting to fix your financial mistakes when it is too late.
(42:26) - Why Paul would make the same decisions regarding his lifestyle design plan all over again.
(44:16) - Paul’s why? A better life for his family.
Connect with Paul
Download Three Money Mistakes No One Talks About And 6 Ways To Solve Them, Paul’s latest White Paper.
Follow Paul on Instagram
Follow Paul on Twitter
Connect with Paul on LinkedIn
Sound Financial Group
Episode Resources
Atlas Shrugged by Ayn Rand
Usually, when we talk about real estate, the first scenario we imagine is regular houses in suburbs or properties near to big cities. However, it’s time to look at one of the oldest and most valuable asset classes in the real estate market: farmland. Our guest for today grew up in a farm in Arkansas, and ever since he was very little he got passionate about agriculture and conservation. Join us on this Income Hacker episode and discover how Carter Malloy’s went from being a successful managing director focusing on real estate research to founding the high-return low-volatility asset class, AcreTrader.
After finishing his bachelor’s degree in Physics, at the University of Kansas, Carter entered the investment world and worked for 5 years in a long and short equity firm. Soon he realized there are only two types of land: the one you can buy and speculate with, and the land that actually generates income. Malloy has always been an entrepreneurial soul and is convinced that you can start investing in farmland with less than 5K dollars and generate stable returns.
In this Income Hacker episode, Carter Malloy will reveal to us why volatility is a crucial factor in this investment class; how a nearby farm that loses its crops could be actually beneficial for a farmer; the importance of water accessibility to maintain a farmland and the reason why there are around 30 billion USD of assets invested in farmland (even if it’s not a get-rich-quick scheme).
“You make money from renting the land to the farmer and from the appreciation of the land, when you add both it gets attractive for farm investors.” - Carter Malloy
Podcast summary:
02:54 - Why investing in agriculture is not a horrible idea and how farmlands have created stable returns to its investors.
04:55 - The endgame of farmland investing: rent + appreciation.
07:05 - How Carter can prevent you from investing in the wrong farmland.
09:43 - The sponsor deal structure in farmland investing.
11:41 - Agreements with farmers: who owns the crops and the land?
16:05 - Risks of owning a land you should take into consideration.
20:58 - Farmland liquidity: how Carter can help you sell your property.
22:37 - How volatility in farmland could end up being beneficial for you.
24:08 - Debt, equity, and leverage: why farmland is not a get-rich-quick scheme.
28:23 - The numbers don’t lie: why even Bill Gates is interested in farmland.
29:53 - How to lose a ton of money in farmland: statistics you should consider.
35:03 - How to start investing in farmland with 5K USD.
Connect with Carter
Follow AcreTrader on Instagram - @acretrader
Follow AcreTrader on Twitter - @acretraderinc
AcreTrader: Investing in Farmland
Hey Income Hackers! Are you ready to become a million-dollar machine? Our guest for today is completely sure everybody needs a coach in their lives, and he is ready to give you the best version of himself to improve your personal development, with an awesome mix of energy, substance and a 15-year network. Micheal Burt represents a new age of leadership in this world. He is the go-to guy for entrepreneurs, salespeople, and managers that want to get the highest levels and performances of their lives.
Michael was the Head Women’s Basketball Coach and Athletic Director of the Riverdale High School for almost ten years, he has written more than 13 books and has coached several real estate agents and investors to change their mindsets for their own benefit. Burt sees adversities as opportunities to grow and learn, and he is convinced it all stands out in how you look at struggle and face frustration within life.
Walk with us in this new episode and learn with Micheal why you have to retreat to attack, quit thinking about you and getting lost in someone else’s dreams; why you need to change your environment to change your stakes to think different and positive, and why most coaches teach sales techniques but won’t mentor you at a personal level. Discover why Micheal is building his legacy by giving back to children, helping others put their hearts and minds on sync.
“A good coach understands how to activate the prey drive skills in a person.” - Michael Burt
Podcast summary:
02:06 - How Micheal went from coaching basketball champions to mentoring top business people from all over the world.
04:08 - What is prey drive and why Micheal believes it is not exclusive to the animal kingdom.
06:12 - How to activate your prey drive and why Micheal believes you don’t need a purpose in life to activate it.
11:59 - How to protect your prey drive and why Micheal believes adversity could be the best thing to ever happen to you.
14:38 - Progress, not perfection: how to keep pushing through adversity and not give up.
19:40 - Skills versus mindset: why Micheal thinks passion is more important than talent.
21:10 - Retreat to attack: how to get out of a slump.
25:18 - Micheal’s first income hack and why a check made him open his mind to new arenas.
27:02 - What Micheal would change if he could time travel to the past.
28:16 - Why Micheal thinks of his first 10K people conference as his biggest success.
29:11 - Micheal’s advice for you if you are struggling and thinking of giving up.
31:06 - Paying attention to who you are taking advice from and why Micheal suggests you to invest in your knowledge.
35:28 - How Micheal is building his legacy by giving back to children.
39:24 - The reason Micheal gets out of bed every morning and why he believes everyone needs a coach.
Connect with Micheal
Follow Micheal on Instagram
Follow Micheal on Twitter
Person Of Interest by Micheal Burt
Monster Producer Coaching
The Greatness Factory
The Greatness Factory For Kids
Episode Resources
The 7 Habits Of Highly Effective People by Stephen R. Covey
The 8th Habit: From Effectiveness to Greatness by Stephen R. Covey
Voxer
If you’ve been looking for your WHY? look no further than today… Coach’s Corner is on your way! Income Hackers welcome to Coach’s Corner, the show where you get the chance to experience a LIVE personal coaching session with people from every background at any stage of their real-estate careers.
Today, we will learn how to really get started in real estate investing, the reasons to look at investing out-of-state, understanding the areas, how to achieve financial independence in less than ten years, and much more. Discover Lincoln’s biggest dream, becoming a mental health counselor/therapist and providing his family with a higher income than a beginner therapist can.
Lincoln knows for a fact financial freedom is not about leave-it-all and move to a bungalow at the beach, but for you to have freedom of choice. He’s convinced there are two kinds of budget: the basic one and the lifestyle budget. He is aware as well that there are two ways to get cash flow: either you create it or you buy it. Stay with us and discover what exactly is reverse engineering and how to get 6,600 USD of net cash flow every single month, thanks to it.
Lincoln’s background:
- Lincoln grew up just outside of Salt Lake City, Utah.
- His main passion is psychology but he is also drawn to business and entrepreneurship.
- His goal is to become financially independent before he begins a career as a mental health professional.
- Lincoln took a risk and participated in a Kickstarter campaign that unfortunately didn’t result in his financial freedom. Still, he thinks of this as a great learning experience.
- Currently, Lincoln works as an Account Executive at a tech company.
- Lincoln’s WHY? Following his passion, fulfilling his calling in life and helping others without putting his family through financial distress.
- He is currently receiving one rental income by house hacking.
- His goal is to get a property in the next six months.
Podcast summary:
18:07 - How passive income can help health professionals leave the “Rat Race” and even enjoy their practicing more.
20:15 - Lincoln’s current passive income: his very own house hack.
21:17 - Lincoln’s Plan A and Plan B: basic budget versus lifestyle budget.
23:00 - Reverse engineering: a thousand ways to get to your income goal.
26:34 - Lincoln’s 20K investment plan choice: The BRRRR Method path.
29:23 - The BRRRR Method downsides and an alternative strategy: Fix & Flipping to the top.
33:19 - How to get started in real estate and the nine skills you will need to find your way in the market.
36:23 - How equity and motivations will lead you to the perfect property to get started.
41:21 - Deciding on a strategy and doing your marketing to start building your portfolio.
43:26 - Reverse engineering your way: your process is more important than your goal.
48:13 - Lincoln’s takeaways and Ryan’s tips to achieve his goals.
51:55 - Why out-of-state investment may scare you and Ryan’s recommendation on it.
When we have a clear view of what do we want to achieve in life, everything else falls in the right place. Dusty Baker has the full tool kit to help you outgrow your real estate business and deliver to your clients an experience full of satisfaction when closing deals. Discover why Dusty doesn’t consider his primary residence as an investment even though he makes money off it, solve the exact equation to buy real estate, and learn to never overpay for a property even when you have a nice cash flow in your life.
Born and raised in Santa Barbara California, he has established reputation and knowledge in the local market, earning amazing titles like “Agent of the Year” and “Top 40 Under 40”. Dusty knows that is easy to get a real estate agent license, but it is not that easy to be an actual good real estate agent. He knows his field like the palm of his hand and looks for excellence in every aspect of his business and life.
In this episode, Dusty shares with us the power of being careful in the real estate business, as buying and selling luxury real estate deserves the finest attention to detail. We’ll learn how great the real estate market when it comes to investing and how ‘Average Joes’ can have a property, fix, manage it and make money out of it. Stay with us as Dusty shares the story that led him to be one of the best real estate agents in the state of California.
“I recommend every single person to get a coach, but do your due diligence and find the best.” - Dusty Baker
Podcast summary:
03:55 - The reasons why Dusty decided to join the Real Estate Agent Army.
05:26 - Why even an Average Joe could become a millionaire by investing in real estate.
08:05 - The house hacking story that made Dusty believe in the American Dream.
10:01 - The concept that helps Dusty make more money than his financial advisor.
12:42 - Choosing between appreciation and cash flow.
16:22 - The fortune-teller: Dusty’s predictions for the market.
10:07 - How submarkets and rental prices are intertwined with the real estate market.
24:40 - Dusty’s thoughts on fixed and variable interest rates and why he suggests you be conservative and have some safety nets.
28:34 - How 16-year-old Dusty went from frustrated teen to earning 30 USD an hour by parking cool cars.
31:56 - How Dusty earned more money by looking for the most intelligent people in the world and why he advises you to look for the best coach you can find.
Connect with Dusty
Follow Dusty on Instagram
Send an email to Dusty Baker
Dusty Baker Real Estate