Millennial Millionaire Real Estate Podcast: Recent Episodes
Jonathan Farber
Welcome to the Real estate show where we discuss tangible tips, tricks and best practices for becoming financially free. This show is designed for people who want to start with real estate but aren't sure how to get started or have done a few deals and looking to grow their portfolio.
๐ค Main Learning
- Hire the right people
๐ Tangible Tip
- Pick one marketing strategy and commit to working on it for 90 days, starting today
โ Resources
- inveloapp.com
- clarity.fm
- openlettermarketing.com
โญ Guest Social Links
justin@inveloapp.com
๐ SAY HI ON SOCIAL:
Website: https://jonfarber.co/Instagram - I respond to every single DM: https://www.instagram.com/jonjfarb/LinkedIn: https://www.linkedin.com/in/jonathanfarber1/TikTok: https://www.linkedin.com/in/jonathanfarber1/MMTR FB Group: https://www.facebook.com/groups/860025821084224/
- ๐ฐ LEARN MORE ABOUT MY MENTORSHIP COMMUNITY - CASHFLOW COACHING COMMUNITY * https://www.notion.so/Cash-Flow-Coaching-Community-930009b7f46f4b36b087573df25f8757
- ๐ * LEARN MORE ABOUT MY PRIVATE MASTERMIND ** https://jonfarber.co/mastermind
- ๐ PS: NEW TRAINING ON THE 6 STEPS TO GETTING STARTED WITH AIRBNB: * https://youtube.com/playlist?list=PLd_G4GDkQf0P0uWGdwY5DtUqmUUA8HZYu
๐ธ Youtube Video on How Jonathan achieved financial freedom: https://www.youtube.com/watch?v=oxHpMyLUdSQ
๐Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Check out our Podcast Systems University Course here for anyone looking to create a podcast: https://podcast-university1.teachable.com/p/podcast-university
โ๏ธ Podcast Show Notes๐
- The X-factor - design factor that I see many people donโt have
- Treat every video as a new audience
๐ค Main Learning
- You can always go back to your old job - and the idea of staying in a job forever is probably worse than what you are doing
๐ Tangible Tip
- Using Pinterest for design
โญ Guest Social Links
biggerpockets.com/users/michaele302
@melefante6
tiktok.com/@melefante6
stanwith.me/melefante6
๐ SAY HI ON SOCIAL:
Website: https://jonfarber.co/Instagram - I respond to every single DM: https://www.instagram.com/jonjfarb/LinkedIn: https://www.linkedin.com/in/jonathanfarber1/TikTok: https://www.linkedin.com/in/jonathanfarber1/MMTR FB Group: https://www.facebook.com/groups/860025821084224/
- ๐ฐ LEARN MORE ABOUT MY MENTORSHIP COMMUNITY - CASHFLOW COACHING COMMUNITY * https://www.notion.so/Cash-Flow-Coaching-Community-930009b7f46f4b36b087573df25f8757
- ๐ * LEARN MORE ABOUT MY PRIVATE MASTERMIND ** https://jonfarber.co/mastermind
- ๐ PS: NEW TRAINING ON THE 6 STEPS TO GETTING STARTED WITH AIRBNB: * https://youtube.com/playlist?list=PLd_G4GDkQf0P0uWGdwY5DtUqmUUA8HZYu
๐ธ Youtube Video on How Jonathan achieved financial freedom: https://www.youtube.com/watch?v=oxHpMyLUdSQ
๐Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Check out our Podcast Systems University Course here for anyone looking to create a podcast: https://podcast-university1.teachable.com/p/podcast-university
โ๏ธ Bio & Podcast Show Notes๐
- Based in Fayetteville, North Carolina
- Networking is a top priority
- Currently focusing on marketing
๐ค Main Learning
- You need to build your brand around who you are trying to seek
๐ Tangible Tip
- Learn however you learn - take a moment today to see when you learn best
โ Resources
- Book by Thomas Piketty: Capital in the Twenty-First Century
- Book by Nassim Nicholas Taleb: Fooled by Randomness
- Novel by David Foster Wallace: Infinite Jest
โญ Guest Social Links
biggerpockets.com/users/alexanderscott
@alexscottfelice
facebook.com/alexscottfelice
brokeisachoice.com
๐ SAY HI ON SOCIAL:
Website: https://jonfarber.co/Instagram - I respond to every single DM: https://www.instagram.com/jonjfarb/LinkedIn: https://www.linkedin.com/in/jonathanfarber1/TikTok: https://www.linkedin.com/in/jonathanfarber1/MMTR FB Group: https://www.facebook.com/groups/860025821084224/
- ๐ฐ LEARN MORE ABOUT MY MENTORSHIP COMMUNITY - CASHFLOW COACHING COMMUNITY * https://www.notion.so/Cash-Flow-Coaching-Community-930009b7f46f4b36b087573df25f8757
- ๐ * LEARN MORE ABOUT MY PRIVATE MASTERMIND ** https://jonfarber.co/mastermind
- ๐ PS: NEW TRAINING ON THE 6 STEPS TO GETTING STARTED WITH AIRBNB: * https://youtube.com/playlist?list=PLd_G4GDkQf0P0uWGdwY5DtUqmUUA8HZYu
๐ธ Youtube Video on How Jonathan achieved financial freedom: https://www.youtube.com/watch?v=oxHpMyLUdSQ
๐Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Check out our Podcast Systems University Course here for anyone looking to create a podcast: https://podcast-university1.teachable.com/p/podcast-university
โ๏ธ Bio & Podcast Show Notes๐
- Comes from a flipping background
- Always have a theme for your property
- Life in Flip Facebook, Instagram
๐ค Main Learning
Facebook marketplace is where it's at for furnishing
๐ Tangible Tip
Always have a theme in your Airbnb
โญ Guest Social Links
facebook.com/LifeInFlip
@jenny_lifeinflip
๐ SAY HI ON SOCIAL:
Website: https://jonfarber.co/Instagram - I respond to every single DM: https://www.instagram.com/jonjfarb/LinkedIn: https://www.linkedin.com/in/jonathanfarber1/TikTok: https://www.linkedin.com/in/jonathanfarber1/MMTR FB Group: https://www.facebook.com/groups/860025821084224/
- ๐ฐ LEARN MORE ABOUT MY MENTORSHIP COMMUNITY - CASHFLOW COACHING COMMUNITY * https://www.notion.so/Cash-Flow-Coaching-Community-930009b7f46f4b36b087573df25f8757
- ๐ * LEARN MORE ABOUT MY PRIVATE MASTERMIND ** https://jonfarber.co/mastermind
- ๐ PS: NEW TRAINING ON THE 6 STEPS TO GETTING STARTED WITH AIRBNB: * https://youtube.com/playlist?list=PLd_G4GDkQf0P0uWGdwY5DtUqmUUA8HZYu
๐ธ Youtube Video on How Jonathan achieved financial freedom: https://www.youtube.com/watch?v=oxHpMyLUdSQ
๐Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Check out our Podcast Systems University Course here for anyone looking to create a podcast: https://podcast-university1.teachable.com/p/podcast-university
โ๏ธ Bio & Podcast Show Notes๐
- Getting your real estate license
- New property management team
- Increasing content output
- Content collabs
- Reentering wholesaling
โ Resources
- Succession
๐ SAY HI ON SOCIAL:
Website: https://jonfarber.co/Instagram - I respond to every single DM: https://www.instagram.com/jonjfarb/LinkedIn: https://www.linkedin.com/in/jonathanfarber1/TikTok: https://www.linkedin.com/in/jonathanfarber1/MMTR FB Group: https://www.facebook.com/groups/860025821084224/
- ๐ฐ LEARN MORE ABOUT MY MENTORSHIP COMMUNITY - CASHFLOW COACHING COMMUNITY * https://www.notion.so/Cash-Flow-Coaching-Community-930009b7f46f4b36b087573df25f8757
- ๐ * LEARN MORE ABOUT MY PRIVATE MASTERMIND ** https://jonfarber.co/mastermind
- ๐ PS: NEW TRAINING ON THE 6 STEPS TO GETTING STARTED WITH AIRBNB: * https://youtube.com/playlist?list=PLd_G4GDkQf0P0uWGdwY5DtUqmUUA8HZYu
๐ธ Youtube Video on How Jonathan achieved financial freedom: https://www.youtube.com/watch?v=oxHpMyLUdSQ
๐Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Check out our Podcast Systems University Course here for anyone looking to create a podcast: https://podcast-university1.teachable.com/p/podcast-university
โ๏ธ Bio & Podcast Show Notes๐
- Started out making just $9k per quarter
- Consistently spent $75 per day on FB ads
- Have to get comfortable spending $4k a month on marketing
- Just had a $75k quarter
- Launch Control for mass texting platform
- Uses Resimpli for CRM
๐ค Main Learning:
- What systems you need in place to start wholesaling
๐ Tangible Tip
- How to get your wife on board - give a timeline and a budget
โ Resources
- launchcontrol.us
- resimpli.com
โญ Guest Social Links:
biggerpockets.com/users/khart1343
@kevinhart_rei
tiktok.com/@kevinhart_rei
๐ SAY HI ON SOCIAL:
Website: https://jonfarber.co/
Instagram - I respond to every single DM: https://www.instagram.com/jonjfarb/
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
TikTok: https://www.linkedin.com/in/jonathanfarber1/
MMTR FB Group: https://www.facebook.com/groups/860025821084224/
- ๐ฐ LEARN MORE ABOUT MY MENTORSHIP COMMUNITY - CASHFLOW COACHING COMMUNITY * https://www.notion.so/Cash-Flow-Coaching-Community-930009b7f46f4b36b087573df25f8757
- ๐ * LEARN MORE ABOUT MY PRIVATE MASTERMIND ** https://jonfarber.co/mastermind
- ๐ PS: NEW TRAINING ON THE 6 STEPS TO GETTING STARTED WITH AIRBNB: * https://youtube.com/playlist?list=PLd_G4GDkQf0P0uWGdwY5DtUqmUUA8HZYu
๐ธ Youtube Video on How Jonathan achieved financial freedom: https://www.youtube.com/watch?v=oxHpMyLUdSQ
๐Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Check out our Podcast Systems University Course here for anyone looking to create a podcast: https://podcast-university1.teachable.com/p/podcast-university
Super pumped to have my good friend Austin Linney on the podcast today! This isn't your typical Real Estate episode and is more about how important mindset is to be happy and successful.
๐ Tangible Tip
- How to implement a gratitude practice
โ Resources
- Book by James Clear: Atomic Habits
- Book by Jeff Olson: The Slight Edge
- Book by Dan Sullivan: The Gap and The Gain
๐ SAY HI ON SOCIAL:
Website: https://jonfarber.co/
Instagram - I respond to every single DM: https://www.instagram.com/jonjfarb/
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
TikTok: https://www.linkedin.com/in/jonathanfarber1/
MMTR FB Group: https://www.facebook.com/groups/860025821084224/
- ๐ฐ LEARN MORE ABOUT MY MENTORSHIP COMMUNITY - CASHFLOW COACHING COMMUNITY * https://www.notion.so/Cash-Flow-Coaching-Community-930009b7f46f4b36b087573df25f8757
- ๐ * LEARN MORE ABOUT MY PRIVATE MASTERMIND ** https://jonfarber.co/mastermind
- ๐ PS: NEW TRAINING ON THE 6 STEPS TO GETTING STARTED WITH AIRBNB: * https://youtube.com/playlist?list=PLd_G4GDkQf0P0uWGdwY5DtUqmUUA8HZYu
๐ธ Youtube Video on How Jonathan achieved financial freedom: https://www.youtube.com/watch?v=oxHpMyLUdSQ
๐Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Check out our Podcast Systems University Course here for anyone looking to create a podcast: https://podcast-university1.teachable.com/p/podcast-university
This personal episode was sparked by a post that Jon made in the Millennial Millionaire Through Real Estate Facebook Group.
The quote reads: "It doesn't matter if you make 1 million dollars per year.... If someone can tell you what to wear, what time to be at work AND can take it all away from you... You are not free.
Jon dives into his personal experience in regards to this quote and his opinion on this controversial topic.
โ Resources
- Book by Tim Ferriss: The 4-Hour Workweek
๐ SAY HI ON SOCIAL:
Website: https://jonfarber.co/
Instagram - I respond to every single DM: https://www.instagram.com/jonjfarb/
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
TikTok: https://www.linkedin.com/in/jonathanfarber1/
MMTR FB Group: https://www.facebook.com/groups/860025821084224/
- ๐ฐ LEARN MORE ABOUT MY MENTORSHIP COMMUNITY - CASHFLOW COACHING COMMUNITY * https://www.notion.so/Cash-Flow-Coaching-Community-930009b7f46f4b36b087573df25f8757
- ๐ * LEARN MORE ABOUT MY PRIVATE MASTERMIND ** https://jonfarber.co/mastermind
- ๐ PS: NEW TRAINING ON THE 6 STEPS TO GETTING STARTED WITH AIRBNB: * https://youtube.com/playlist?list=PLd_G4GDkQf0P0uWGdwY5DtUqmUUA8HZYu
๐ธ Youtube Video on How Jonathan achieved financial freedom: https://www.youtube.com/watch?v=oxHpMyLUdSQ
๐Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Check out our Podcast Systems University Course here for anyone looking to create a podcast: https://podcast-university1.teachable.com/p/podcast-university
โ๏ธ Bio & Podcast Show Notes๐
- Howard and Brad are friends from High school and investing in their first real estate deal together
- Brad is also the brother to the host Jon!
- Focus on building long term buy and hold cash flowing multi-family real estate
- The first deal was a 4 unit in Dayton, Ohio
๐ค Main Learning:
- There is always a way to take action, even if you live in NYC during coronavirus
๐ Tangible Tip
- Build 1 new habit starting next week. 1 habit you will do for 30 days. Mark it on your calendar - recurring and just become good at that!
โญ Guest Social Links:
biggerpockets.com/users/BradF21
facebook.com/bradsf1
linkedin.com/in/bradfarber
linkedin.com/in/howard-heller
@howard_heller
๐ SAY HI ON SOCIAL:
Website: https://jonfarber.co/
Instagram - I respond to every single DM: https://www.instagram.com/jonjfarb/
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
TikTok: https://www.linkedin.com/in/jonathanfarber1/
MMTR FB Group: https://www.facebook.com/groups/860025821084224/
- ๐ฐ LEARN MORE ABOUT MY MENTORSHIP COMMUNITY - CASHFLOW COACHING COMMUNITY * https://www.notion.so/Cash-Flow-Coaching-Community-930009b7f46f4b36b087573df25f8757
- ๐ * LEARN MORE ABOUT MY PRIVATE MASTERMIND ** https://jonfarber.co/mastermind
- ๐ PS: NEW TRAINING ON THE 6 STEPS TO GETTING STARTED WITH AIRBNB: * https://youtube.com/playlist?list=PLd_G4GDkQf0P0uWGdwY5DtUqmUUA8HZYu
๐ธ Youtube Video on How Jonathan achieved financial freedom: https://www.youtube.com/watch?v=oxHpMyLUdSQ
๐Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Check out our Podcast Systems University Course here for anyone looking to create a podcast: https://podcast-university1.teachable.com/p/podcast-university
โ๏ธ Bio & Podcast Show Notes๐
- 12 years of property management
- VP for a real estate firm that manages over 5000 units
- Currently focused on Airbnb in destination locations
- Flips 5 to 10 houses a year
- Buy value add to sell or hold depending on property
- Started in the insurance and banking world but it was too boring
- Started working in a student apartment complex near u of L
- Starting in real estate companies to learn the business and then scale into a business yourself
- How to manage tenants and manage contractors
- Start with realtors - they can make the referrals for you
๐ค Main Learning:
- Handling contractors - how to find one and how to not get ripped off
๐ Tangible Tip
- Use VAโs for creating content. It's cheap and way easier then you think.
โญ Guest Social Links:
https://www.biggerpockets.com/users/brettgrigs
https://www.facebook.com/brett.grigsby
https://www.linkedin.com/in/brett-grigsby-5798083a/
@brettgrigsby
Connect With The Host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Cracking Superhost course: https://classes.milliondollarrenter.com/courses/cracking-superhost
How Jonathan achieved financial freedom: https://www.youtube.com/watch?v=oxHpMyLUdSQ
โ๏ธBIO & Podcast Show Notes๐
-
From New York, splits time between new york, Florida and North Carolina
-
Boats, airbnbs, glamping, collectively making multiple 6 figures
-
We connected on tik tok where he has a really cool channel - Overall just a great story and something that is very profitable and very repeatable which are my favorite types - And the best part is he has not been doing this that long - really only 2.5 years
๐คMain Learning: - Boating in general - Separating the boat company from the Airbnb - they donโt link this on the Airbnb listing
๐Tangible Tip: - Go to google search trends - keyword planner
Resources:
โ Google Trends
โ Google Keyword Planner
โ boatsetter.com
Guest Social Links:
โญ tiktok.com/@jeremywerden
โญ @jeremywerden โญ investstr.com
โญ boatstr.com
๐ Connect With The Host, Jonathan Farber Here! ๐
๐ป jonjfarber@outlook.com
๐ LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
โ๏ธ Instagram: @jonjfarb
๐ Facebook: https://www.facebook.com/jonathan.farber.9
๐ค Facebook Group: Real Estate Mentorship Mastermind https://www.facebook.com/groups/860025821084224/
๐ก BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
๐น Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
๐๏ธ Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
๐๏ธ Cracking Superhost course: https://classes.milliondollarrenter.com/courses/cracking-superhost
๐ธ How Jonathan achieved financial freedom: https://www.youtube.com/watch?v=oxHpMyLUdSQ
โ๏ธShow Notes๐
Resources:
โ mojosells.com
โ propstream.com
โ podio.com
โ salesforce.com
โ batchskiptracing.com
โ dealmachine.com
Social Links:
โญ biggerpockets.com/users/paullogsdon
โญ facebook.com/paul.logsdon1
โญ @persistent_paul
โญ tiktok.com/@persistent_paul
โญ Paul Logsdon on Youtube
Connect With Our Sponsor, Infinite Road Destinations:
๐ซ Contact Claire Rosenberg & Alex Breshears at: info@shorttermmadeeasy.com
๐ซ Website: shorttermmadeeasy.com
๐ Connect With The Host, Jonathan Farber Here! ๐
๐ป jonjfarber@outlook.com
๐ LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
โ๏ธ Instagram: @jonjfarb
๐ Facebook: https://www.facebook.com/jonathan.farber.9
๐ค Facebook Group: Real Estate Mentorship Mastermind https://www.facebook.com/groups/860025821084224/
๐ก BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube Channel:
๐น https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
๐ https://www.youtube.com/watch?v=oxHpMyLUdSQ
Podcast Guest:
๐๏ธ Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Courses:
๐๏ธ Cracking Superhost course: https://classes.milliondollarrenter.com/courses/cracking-superhost
๐ป Check out our Podcast Systems University Course here for anyone looking to create a podcast: https://podcast- university1.teachable.com/p/podcast-university
Book Club:
๐ MMTR Gainers Book Club: https://gumroad.com/l/qZAEE
๐ธ How Jonathan achieved financial freedom: https://www.youtube.com/watch?v=oxHpMyLUdSQ
โ๏ธShow Notes๐
Resources:
โ Hiearcool USB C Hub
Social Links:
โญ biggerpockets.com/users/austinl11
โญ https://www.austinlinney.com/
โญ @austin_linney
Connect With Our Sponsor, Infinite Road Destinations:
๐ซ Contact Claire Rosenberg & Alex Breshears at: info@shorttermmadeeasy.com
๐ซ Website: shorttermmadeeasy.com
๐ Connect With The Host, Jonathan Farber Here! ๐
๐ป jonjfarber@outlook.com
๐ LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
โ๏ธ Instagram: @jonjfarb
๐ Facebook: https://www.facebook.com/jonathan.farber.9
๐ค Facebook Group: Real Estate Mentorship Mastermind https://www.facebook.com/groups/860025821084224/
๐ก BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube Channel:
๐น https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
๐ https://www.youtube.com/watch?v=oxHpMyLUdSQ
Podcast Guest:
๐๏ธ Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Courses:
๐๏ธ Cracking Superhost course: https://classes.milliondollarrenter.c...
๐ป Check out our Podcast Systems University Course here for anyone looking to create a podcast: https://podcast- university1.teachable.com/p/podcast-university
Book Club: ๐ MMTR Gainers Book Club: https://gumroad.com/l/qZAEE
โ๏ธShow Notes๐
Resources:
โ asana.com
Social Links:
โญ biggerpockets.com/users/suzannes44
โญ biggerpockets.com/users/michaelbarnhart
โญ adventurousrei.com/info
โญ linkedin.com/in/suzysevier
โญ linkedin.com/in/michaelbarnhartrei
Connect With Our Sponsor, Infinite Road Destinations:
๐ซ Contact Claire Rosenberg & Alex Breshears at: info@shorttermmadeeasy.com
๐ซ Website: shorttermmadeeasy.com
๐ Connect With The Host, Jonathan Farber Here! ๐
๐ป jonjfarber@outlook.com
๐ LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
โ๏ธ Instagram: @jonjfarb
๐ Facebook: https://www.facebook.com/jonathan.farber.9
๐ค Facebook Group: Real Estate Mentorship Mastermind https://www.facebook.com/groups/860025821084224/
๐ก BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube Channel:
๐น https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
๐ https://www.youtube.com/watch?v=oxHpMyLUdSQ
Podcast Guest:
๐๏ธ Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Courses:
๐๏ธ Cracking Superhost course: https://classes.milliondollarrenter.c...
๐ป Check out our Podcast Systems University Course here for anyone looking to create a podcast: https://podcast- university1.teachable.com/p/podcast-university
Book Club:
๐ MMTR Gainers Book Club: https://gumroad.com/l/qZAEE
Social Links:
โญ https://connectedinvestors.com/member/angela-rosel
โญhttps://www.facebook.com/angela356.rosel/
โญ @roseldozzle
โญ angela@arcapitalinvest.com
Connect With Our Sponsor, Infinite Road Destinations:
โ Contact Claire Rosenberg & Alex Breshears at: info@shorttermmadeeasy.com
โ Website: shorttermmadeeasy.com
๐ Connect With The Host, Jonathan Farber Here!๐
๐ป jonjfarber@outlook.com
๐ LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
โ๏ธ Instagram: @jonjfarb
๐ Facebook: https://www.facebook.com/jonathan.farber.9
๐ค Facebook Group: Real Estate Mentorship Mastermind https://www.facebook.com/groups/860025821084224/
๐ก BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
YouTube Channel:
๐น Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
๐ How Jonathan achieved financial freedom: https://www.youtube.com/watch?v=oxHpMyLUdSQ
Podcast Guest:
๐๏ธ Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Courses:
๐๏ธ Cracking Superhost course: https://classes.milliondollarrenter.com/courses/cracking-superhost
๐ป Check out our Podcast Systems University Course here for anyone looking to create a podcast: https://podcast-university1.teachable.com/p/podcast-university
Book Club: ๐ MMTR Gainers Book Club: https://gumroad.com/l/qZAEE
Resources:
โ airtable.com
โ notion.so
Social Links:
โญ elitedigitalist.com
โญ linktr.ee/elitedigitalist
โญ @elite.digitalist
โญ tiktok.com/@elite.digitalist
โญ twitter.com/roykutteh
๐ Connect With The Host, Jonathan Farber Here!๐
๐ป jonjfarber@outlook.com
๐ LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
โ๏ธ Instagram: @jonjfarb
๐ Facebook: https://www.facebook.com/jonathan.farber.9
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Inception
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asana.com
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Social Links:
biggerpockets.com/users/AnthonyP267
facebook.com/missionfirstcapital
linkedin.com/in/anthony-pinto
anthony@missionfirstcapital.co
missionfirstcapital.co
Connect With Our Sponsor, Infinite Road Destinations:
Contact Claire Rosenberg & Alex Breshears at: info@shorttermmadeeasy.com
Website: shorttermmadeeasy.com
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Cracking Superhost course: https://classes.milliondollarrenter.com/courses/cracking-superhost
Resources:
cozy.co
rentredi.com
Social Links:
biggerpockets.com/users/aaheilbr
Avery Heilbron on Youtube
@_averyheilbron
tiktok.com/@_averyheilbron
Connect With Our Sponsor, Infinite Road Destinations:
Contact Claire Rosenberg & Alex Breshears at: info@shorttermmadeeasy.com
Website: shorttermmadeeasy.com
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Cracking Superhost course: https://classes.milliondollarrenter.com/courses/cracking-superhost
In this episode, Jonathan Farber brings back Chris Grenzig to continue the discussion on his path from jumping around between flipping tax deeds, and small multifamily, to amassing 40 units and starting his own property management operation. Chris is an investor and property manager based in Jacksonville, Florida. In this episode, we dive into topics like: education from a real estate firm, why you need a mentor starting off, how to best force appreciation, and more!
Top Takeaways:
Lessons from a real estate investing firm - 9:45 - 12:15
- Especially if youโre at a small company, you can assume a lot of responsibility with some support
- You get the chance to master your assigned tasks under the tutelage of seasoned players
- You also may get exposure to other aspects of the business that will help you down the line
The value of mentors - 12:30 - 14:30
- Even if you have a bit of your own solo experience, living in the institutional world immerses you
- The more you can leverage the experience around you the faster you can learn
- If you can find a job in the business, you can literally get paid to train yourself for the future
Finding the best ways to force appreciation - 27:15 - 30:30
- Consider comps as a baseline for where you can take your units reasonably easily
- The more data points you can compare to the better your conclusions will be
- Include potential outcomes where your new rents are either lower or higher than your target
How to bring value to Chris Grenzig:
- Check out his social media and podcast
Resources:
15 with Chris Grenzig: The Power of Mentorship and a Rock Solid Corona Game Plan
Social Links:
biggerpockets.com/users/ChrisG149
@chris.grenzig
linkedin.com/in/chris-grenzig
thereiexp.com
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber and Claire Rosenberg reflect on 200 episodes of the Millennial Millionaire Real Estate Podcast. In this episode, we look back on topics like: tackling any challenge, why to start a podcast, practice makes better, and more!
Top Takeaways:
Everything is figure-outable - 29:00 - 30:15
- You wonโt know how to do anything the first time
- Donโt let your fear of ignorance stop you from trying it
- Starting will be the hardest part but the payoff at the end will be huge
The open secret of starting a podcast - 30:30 - 31:15
- One new thing and a good habit can change your entire life direction
- Meeting 200 new people in an industry you want to be in will make a world of difference
- You may think little of it at the beginning but you canโt know the outcome
The difference practice makes - 31:15 - 32:30
- Everyone overestimates what they can do in a day but underestimates what they can do in a year
- Everyone is bad at everything until they start doing it
- By the time you realize how much better you are, youโll be well on your way to your dreams
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Cracking Superhost course: https://classes.milliondollarrenter.com/courses/cracking-superhost
In this episode, Jonathan Farber interviews Paul Thompson on his path from choosing real estate to live life on his schedule to completing more than 20 deals every month between flips, wholesales, and BRRRRs. Paul is a high volume investor based in Little Rock, Arkansas. In this episode, we break topics like: getting off on the best foot for success, building the workflow for your desired volume, putting your virtual assistants to best use, and more!
Top Takeaways:
Setting yourself up for success - 13:45 - 18:00
- The prime market for this is a secondary market near a somewhat smaller city
- Within your chosen market, pick a highly specific niche and stay in it
- If you want to reach 20 deals a month you need to ask 100 people a day
Creating a high volume workflow - 18:15 - 21:45
- Lists for your niche can be pulled from a multitude of sources
- You can scale your outreach quickly using virtual assistants
- Implementing a CRM can be the difference between converting leads or not
Implementing virtual assistants - 25:45 - 27:15
- Donโt make the mistake of forgetting that your VAs are real people with real lives
- Especially in the Philippines, the culture of service gives you power over your employees
- Small gestures like adjusting pay for 13th month bonus show recognition
How to bring value to Paul Thompson:
- Check out myfreedomfoundry.com
Resources:
propstream.com
reiblackbook.com
Book by Bronnie Ware: The Top Five Regrets of the Dying
Social Links:
biggerpockets.com/users/toolsoup
myfreedomfoundry.com
pauldavidthompson.com
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Cracking Superhost course: https://classes.milliondollarrenter.com/courses/cracking-superhost
In this episode, Jonathan Farber interviews Matt Whitermore and partner Dan Odabashian on their journey from their separate but similar starts as small time investors to creating a high-equity portfolio of over 75 properties. Matt and Dan are a multifamily investor group based in Albany, New York. In this episode, we dig into topics like: when to get started in multifamily, creating a foundation for rapid growth, keeping investors interested after first contact, and more!
Top Takeaways:
How early you should start into multifamily - 14:30 - 17:30
- Think bigger earlier and grow as fast as you can
- The scale of multifamily operations is the single biggest gain you can make
- You donโt have to jump straight in, though - you can establish a track record first
Laying out your strategy for rapid growth - 18:30 - 23:00
- If you set a goal it becomes clear what path you need to take to meet that
- Even in the beginning, marketing and systems infrastructure can get started that will keep helping
- Always be telling people about your business, no one will invest if they donโt know youโre investing
Keeping potential investors on the hook after theyโve shown interest - 26:45 - 29:30
- Quite literally anyone you encounter could become an investor with you
- Anything you can do to help solve someoneโs problem or show your expertise is great
- Once you have the record for it, you can get soft commits for any deal you may find
Resources:
Book by Hunter Thompson: Raising Capital for Real Estate
reonomy.com
Social Links:
biggerpockets.com/users/mswhitermore
newscotlanddev.com
matt@newscotlandcapital.com
dan@newscotlandcapital.com
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Cracking Superhost course: https://classes.milliondollarrenter.com/courses/cracking-superhost
In this episode, Jonathan Farber shares his thoughts on his move to Florida and recent business updates. In this episode, we jump into topics like: adapting to a more nomadic lifestyle, the smart way to expand your social media presence, Jonathanโs win of the week, and more!
Top Takeaways:
Insight into creating a nomadic lifestyle - 2:15 - 5:30
- A change in scenery can create an almost magical transformation in your energy and creativity
- Willfully shaping your days by where you choose to live has the power to make you more fulfilled
- Many places have astonishingly cheap short term rental options for outstanding places
Growing a social media presence with the right guidance - 6:00 - 7:30
- Even with an in-house social media manager, experienced consultants can speed development
- The beauty of using consultants is they can be brought in as little or as often as needed
- Tools like Buffer can systematize your social media platforms just like your real estate ops
Short term rental payoff - 7:45 - 9:45
- When youโre in the grind it can feel arduous to be focusing on all the tiny details
- Once that frontend work is done, though, stepping back and letting it play out is a load off
- If youโve done it right, youโll see the rewards start rolling in
Resources:
buffer.com
Pack Hacker on Youtube
Book by Peter Drucker: The Effective Executive
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Cracking Superhost course: https://classes.milliondollarrenter.com/courses/cracking-superhost
In this episode, Jonathan Farber interviews Viktor Jiracek on his road from leaving a stagnant job to take up real estate to shooting for 30 flips in a year with 20 a year already done. Viktor is a distressed property specialist based in Gainesville, Florida. In this episode, we get into topics like: creating lead flow, understanding the cold calling timeline, negotiating offers with leads, and more!
Top Takeaways:
Generating lead flow through cold calling - 17:00 - 20:00
- Find a way to get a list of motivated sellers - ListSource is a good example
- Skip trace your list to get the best possible contact info for the owners
- Use an autodialer to get through your list much faster
Setting a realistic timeline from starting calls to cashing in - 27:30 - 28:45
- Spend the first two weeks just settling into your system and working out the kinks
- Once operational, expect somewhere in the vicinity of 1 lead per hour and 1 deal per 15 leads
- When youโve found a deal you should expect about a month of lag before you hit payday
Negotiating the offer when you find a lead - 30:45 - 33:30
- Start at a lowball offer with a clean ending, to get the ball rolling
- Keep your offers below theirs, but get more specific each time
- You can create the illusion of approaching a price limit just by refining your offer
How to bring value to Viktor Jiracek:
- Check out Six Figure House Flippers on Facebook
Resources:
listsource.com
skipgenie.com
mojosells.com
Book by Christopher Voss: Never Split the Difference
hubspot.com
Social Links:
biggerpockets.com/users/ViktorJ3
facebook.com/viktor.jiracek.5
facebook.com/groups/sixfigureflippers
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Cracking Superhost course: https://classes.milliondollarrenter.com/courses/cracking-superhost
In this episode, Jonathan Farber brings back John Cohen for his second episode on his path from bringing his tax expertise to his real estate start to having held over a total of 4,000 units through 27 deals. John is an experienced multitalented investor based in New York. In this episode, we delve into topics like: balancing risk and aggressive deals, what first steps to take in real estate, looking towards opportunities post-pandemic, and more!
Top Takeaways:
Drawing the line between making an aggressive deal and keeping yourself safe - 11:45 - 17:30
- There will always be a few who take it to a truly careless level of risk
- Stay forward thinking and include future economic changes in your underwriting
- The more aware you stay of the financial trends, the better you can ride that line
Starting over in real estate today - 19:00 - 21:45
- The number one thing you can do is build yourself a mentor relationship by providing value
- Put your financial gain on the back burner and soak up as much as you can
- If you can do the things no one wants to do better than anyone else, youโve become irreplaceable
Preparing for real estate in the post-pandemic world - 28:00 - 32:15
- Consider whether you really need an office as your biggest fixed expense
- Being able to be in the same room as your colleagues doesnโt mean you need to go back to that
- Consider what that amount could be put towards that would bring you more revenue
Social Links:
biggerpockets.com/users/JCPropertyGroup
john@tororep.com
facebook.com/John-Cohen
@john_jc
linkedin.com/in/john-cohen
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Cracking Superhost course: https://classes.milliondollarrenter.com/courses/cracking-superhost
In this episode, Jonathan Farber brings back Jon Schoeller for his second episode on his journey from moving into real estate entrepreneurship to flipping over 150 houses with his partners using private money. John is a flipper and long term investor based in Charleston, West Virginia. In this episode, we dive into topics like: challenges faced by an established flipper, how a mature flipping operation is run, should a new investor flip or wholesale, and more!
Top Takeaways:
Biggest challenges for a scaled flipper - 13:15 - 15:00
- Once youโve settled on a system that works, the only remaining struggle is keeping it working
- Anything that adds friction can be optimized out, bu that leaning takes effort
- As you grow your options grow too and staying focused is harder
The model for a mature flipping operation - 15:45 - 19:30
- Once youโre established in an area, your inbound marketing will grow and leads will flow
- Subcontracting the acquisitions team means you only pay for what you use
- Even with the intent of flipping, itโs smart to leave your exit strategies open for maximum gain
Whether beginners should flip or wholesale - 20:45 - 23:30
- Wholesaling is usually the way to go because of the low capital investment
- Flipping effectively is often its own full time job, so if you want to keep your W2 start elsewhere
- Much of the tasks for wholesaling can be done in spare time outside a normal job
How to bring value to Jon Schoeller:
- Check out his Youtube channel and investing Discord
Resources:
Millennial Millionaire Real Estate Podcast #13 with Jon Schoeller: Veins are Popping and Value Add Central
oncehub.com/scheduleonce
rehabvaluator.com
Social Links:
biggerpockets.com/users/JonSchoeller
@thefrugalinvestor
Jon Schoeller on Youtube
patreon.com/itsmorethanmoney
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here:https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber provides a look into what heโs thinking about in recent weeks. In this episode, we dip into topics like: living your best post-W2 life, putting together your remote property management team, learning to run your business, and more!
Top Takeaways:
Life after the W2 - 2:00 - 7:00
- Leaving your corporate job wonโt instantly tell you what you really want - it takes time to reflect
- You have a lot more of that time though; you decide what you do with your days
- Take advantage of your newly open schedule to sort yourself out
Building the basic property management team - 8:30 - 9:45
- If youโre sticking to the essentials, you need a runner, a cleaner, and a handyperson
- These three roles can do everything that you canโt if youโre in a different state
- The success or failure of your property can hinge on who you choose, so be thorough
Entrepreneurship 101 and how to run your business - 12:00 - 13:00
- Resources like Valuetainment have tons of free content to get you started
- Like elsewhere in real estate, there are also tons of groups and masterminds to join
- If you have no experience in hiring, paying, or managing people, start there
Resources:
Book by Michael Hyatt: Free to Focus
Valuetainment on Youtube
Book by Viktor Frankl: Man's Search for Meaning
Book by Bob Burg: The Go-Giver
Book by Grant Cardone: The 10X Rule
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
Cracking Superhost course: https://classes.milliondollarrenter.com/courses/cracking-superhost
In this episode, Jonathan Farber brings Mike Ealy back to the show on his road from his first real estate career in the 90โs to grasping the opportunity that the pandemic presented when it threatened his business model. Mike is a hotel and apartment investor with over $1.5 billion under management. In this episode, we dig into topics like: a growth mindset in tough times, scaling yourself as you scale your business, continuing after you reach financial freedom, and more!
Top Takeaways:
Keeping the mindset to grow when everyone else shrinks - 10:45 - 15:45
- Remember that normally in a downturn hospitality is hit first - that didnโt happen
- Interest rates have dropped low enough to convert premium assets into creating cash flow
- The temporary disruption has also created the chance to convert properties to whole new classes
Matching the size of your workload to the size of your deals - 19:00 - 21:15
- The bigger the deal is, the more important your team is to your success
- You donโt have to limit yourself to one group for everything - the team should match the operation
- The more you can pass off the minutia to a dedicated team, the more you can do on your own
The drive to keep expanding after financial freedom - 22:00 - 25:30
- While you may indeed reach your initial financial life goals, what will you do after that
- If youโve gotten this far you probably love what youโre doing
- The more time you free for yourself the more time you have to reflect on your true motivation
How to bring value to Mike Ealy:
- Check out his Big Deal Hacking System masterclass
Resources:
Book by Spencer Johnson: Who Moved My Cheese?
Social Links:
biggerpockets.com/users/MichaelEaly
bigdealhacking.com
https://www.facebook.com/groups/apartmentinvestingsecrets/
@mikeealynassau
https://www.linkedin.com/in/nassaumikeealy
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here:https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Mike Brown on his path from finding rental arbitrage as an accessible new stream of income to collecting seven arbitrage units in a year and creating a real estate podcast. Mike is a clean housing investor based in Dallas, Texas. In this episode, we delve into topics like: tracking your income across all your units, creating units that match your customer base, optimizing your workflow to minimize your time invested, and more!
Top Takeaways:
Keeping track of your income per unit - 13:15 - 16:45
- Selecting your units can be done by simply setting a lower limit on monthly profit
- Remember that month to month, profit will vary, especially in some locations and with holidays
- Data driven tools like AirDNA and PriceLabs can keep your pricing balanced with demand
Tailoring your units to a specific class of guest - 17:30 - 20:15
- 2 and 3 bedroom apartments or detached houses are growing in popularity
- A house can be a highly configurable unit class since it can be rented whole or by room
- Your choice of market will determine your most frequent renter type, so cater to them
Making the best use of your time with automation - 21:15 - 26:00
- You donโt have to decide between entirely self managing and entirely using pro management
- Tools like Smartbnb and TurnoverBnb can make many tasks happen automatically
- Getting proper insurance will also keep you covered in STR specific situations
How to bring value to Mike Brown:
- Check out his podcast 3P Theory
Resources:
airdna.co
hello.pricelabs.co
smartbnb.io
turnoverbnb.com
getawair.com
Social Links:
@mcharlesjr
3ptheory.com
linkedin.com/in/mbrownjr
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Youtube: https://www.youtube.com/channel/UCB8BJ8K5ILXdfOnsDWamVqw
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Marcus Merchant on his journey from learning about real estate investing on a red eye corporate flight to completing three deals since March 2020 as a growing investor. Marcus is a long distance real estate and crypto investor based in California. In this episode, we dive into topics like: getting comfortable investing out of state, challenges finding creative financing for small properties, creating your strategy for distance investing, and more!
Top Takeaways:
How to get comfortable investing across the country - 10:45 - 12:30
- A major overlooked benefit is if a deal does go sideways, you may be out 5 instead of 6 figures
- The exit strategies in an expensive market are limited compared to an affordable market
- Expensive markets are generally much less forgiving to new investors
Creative financing challenges in small dollar properties - 16:15 - 18:00
- Hard money lenders typically donโt want to lend less than around $100k, to $50k at the lowest
- Because of the surrounding costs, a loan can become predatory below these levels
- The return for the lender at such small amounts is also smaller than needed
Developing an out of state investment strategy - 23:15 - 25:30
- Local Facebook investor groups are a fantastic way to network and build connections
- If a name like a contractor comes up from multiple sources, theyโre worth talking to
- A thorough inspector can save you thousands or more on closing or from a disaster
How to bring value to Marcus Merchant:
- Looking for JV partners on flips and midsized multifamily
Resources:
blockfi.com
Social Links:
facebook.com/marcus.merchant
linkedin.com/in/marcusmerchant
connectedinvestors.com/member/marcus-merchant-1
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In this episode, Jonathan Farber talks about his recent departure from his W2, along with other updates. In this episode, we jump into topics like: should you leave your job starting when in real estate, optimizing your new STR, and more!
Top Takeaways:
Whether or not to leave your job when starting real estate - 10:00 - 13:00
- The most efficient route is to use your W2 benefits to build cash flow for as long as possible
- Especially during the pandemic, with remote work available you have extra flexibility
- Get as many loans, refinances, and lending relationships set up as you can before leaving
Creating the most effective STR with a new property - 14:00 - 15:30
- Do your best to tailor the space to your anticipated customers
- If you expect more families, incorporate more aspects appropriate for kids
- If you expect larger groups, figure out how you can maximize the number of beds
Resources:
Book by Viktor Frankl: Man's Search for Meaning
Book by Grant Cardone: The 10X Rule
Book by Peter Drucker: The Effective Executive
Book by Donald A. Miller: Business Made Simple
Book by Justin Donald: The Lifestyle Investor
Book by Morgan Housel: The Psychology of Money
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In this episode, Jonathan Farber interviews Matt Thomas on his journey from over a year ago when Matt was last on the show to scaling by more than 50% during the pandemic. Matt is a high performance residential broker in Chicago, IL. In this episode, we dive into topics like: jumping into action during a slowdown, scaling massively and effectively, creating and using drip campaigns, and more!
Top Takeaways:
Taking the opportunity to leap forward when everyone else is stopping - 11:00 - 12:00
- The core elements of your business wonโt change, so make sure youโre doing those regardless
- In the areas that your competitors are backing off, position yourself to pick up the slack
- This is the best way to extract extra growth relative to the market as a whole
How to handle massive scaling - 14:45 - 18:15
- One of the biggest challenges is knowing when you need more people to stay efficient
- Try to identify your maximum output - where can you no longer get your best result
- Expanding should be a combination of new people for tasks and new systems for automation
Implementing drip campaigns and other ways to stay top of mind - 19:45 - 22:30
- Your CRM should get you on the right path by allowing frequent touches
- While you can get a bunch of leads cheaply from social ads, drip campaigns help convert leads
- Once someone starts to engage, then you can bring full service to them and build the relationship
How to bring value to Matt Thomas:
- Find him on social and engage
Resources:
buffer.com
lolo.gifts
Book by Steve Sims: Bluefishing
insiderealestate.com/kvcore
cloudcma.com/real-estate-agents
remine.com
Social Links:
bairdwarner.com/agent/106524-matt-thomas
linkedin.com/in/mattthomaschicago
facebook.com/mattthomas.bairdwarner
Connect With The host, Jonathan Farber Here!
jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
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In this episode, Jonathan Farber interviews Tim Gordon on his path from discovering a real estate meetup while in sales to completing over $45 million between buys, flips, and wholesales. Tim is a flipper and wholesaler based in Oceanside, CA. In this episode, we dig into topics like: using the tools available to scale your portfolio, understanding the details of FHA 203k loans, finding a contractor to follow through on a 203k, and more!
Top Takeaways:
Utilizing small ownership tools to quickly build your portfolio - 8:00 - 9:30
- Keeping a W2 in the early days will give you access to loans you couldnโt get otherwise
- FHA loans, like a 203k, can be combined with other financing to minimize the down payment
- Combining these with the right deal can be a springboard to scale your business
The intricacies of FHA 203k loans - 10:30 - 12:45
- Your first priority has to be convincing the listing agent that you can close the deal
- To have that confidence in yourself, you have to have a solid mortgage broker
- The last critical component is finding a contractor to jump through the hoops
Locking in a contractor that will stick through the paperwork - 16:45 - 19:15
- Come in with the expectation that a contractor doing an FHA 203k is going to cost more
- You would rather spend the extra on a professional than cheap out and get dumped
- It comes down to whether you would rather get the deal done or not
Social Links:
biggerpockets.com/users/TimGordon
@yosoytim
gordonbuyshomes.com
linkedin.com/in/timgordon
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In this episode, Jonathan Farber interviews Kyle Mitchell on his journey from putting his money to work in single family rentals to growing a 170 unit, $15 million managed portfolio. Kyle is an out of state syndicator and investor based in Southern California. In this episode, we get into topics like: if you should start small before multifamily, getting started on your first multifamily deal, the psychology of leaving your W2, and more!
Top Takeaways:
Is it really necessary to work your way up to multifamily - 10:45 - 11:30
- If you already have operations experience, youโre primed for the multifamily model
- While the market seems to swing farther, the vacancy rate adds some cushion
- You can still learn all the necessary elements, and you arenโt the only member of the team
How to make the leap and do your first multifamily deal - 12:00 - 13:30
- If youโre in a position with nothing holding you back, then all thatโs stopping you is you
- A coach is a great resource to have, and can get you through the rookie hiccups
- Your most effective path will involve you applying all your most applicable skills to the deal
Getting yourself to burn the boats and offramp from your W2 - 14:15 - 15:30
- Try Tim Ferrissโs fear setting exercise - what is the actual worst case scenario if you do this
- If the worst that can happen is you end up back where you are, then why wouldnโt you try
- If everything fails and youโre back in a job, at least you know what didnโt work
How to bring value to Kyle Mitchell:
- Check out Asset Management Summit 2021 below
Resources:
tim.blog/2017/05/15/fear-setting
Book by Tim Ferriss: The 4-Hour Workweek
Virtual Asset Management Summit
Social Links:
biggerpockets.com/users/KyleM19
aptcapitalgroup.com
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Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews David Kamara on his path from discovering the opportunity in real estate while buying his own home to amassing over 300 units between his personal and syndicated properties. David is a small multifamily investor turned syndicator based in Michigan. In this episode, we delve into topics like: understanding management consulting, finding an area that balances comfort and price, the right way to buy property at auction, and more!
Top Takeaways:
How management consulting could help your business - 12:15 - 15:00
- A consultant will bring expertise to advise on a specific business function
- They can help you match your processes and systems to the goals youโve set
- The outside perspective of a consultant can be the needed boost to get back on track
Choosing an area thatโs both affordable and reliable - 24:30 - 25:45
- If you have the hustle to get higher returns early on, youโre going to balance some risk
- Wherever you go, if you treat people well youโll earn their respect
- Finding that line between dangerous and cushy can take you a long way
Advice for buying at auction - 26:15 - 28:30
- While due diligence wonโt look the same as a normal listing, you can still research what you have
- The auction holder will release the list of available properties, and you can go examine them
- The perception of buying blind at auction is false - if you donโt know, donโt bid
How to bring value to David Kamara:
- Check out his free ebook โThe Personal Cash Flow Formulaโ below
Resources:
Book by Peter Drucker: The Effective Executive
Book by Eliyahu M. Goldratt: The Goal
capesierracapital.com/cashflow
Social Links:
capesierracapital.com
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Facebook Group: Real Estate Mentorship Mastermind
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Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber discusses some of his lessons on running your best business. In this episode, we look back on topics like: optimizing how you use your time, keeping track of your relationships, keeping yourself current in the real estate industry, and more!
Top Takeaways:
Making the best use of your time at work - 2:00 - 2:45
- While you could probably do everything yourself, you would spend a lot more of your own time
- For most of the things youโre involved in, you could probably do the key part and delegate the rest
- The more value you can create in the least time, the more productive you are
Tracking your relationships intelligently - 3:00 - 5:00
- When thereโs a lot going on, you could understandably have a hard time remembering everyone
- Consider setting yourself up a system that you can use like a CRM for your relationships
- Building a space, in Notion for example, to organize your people is a great start
Staying constantly educated - 5:15 - 6:45
- As you free your time up from the more menial tasks, you can invest a greater portion to learning
- Remember that youโre scaling your reach, so you have to improve yourself too
- Spend some of that time staying immersed in current real estate content
Resources:
Book by Tim Ferriss: The 4-Hour Workweek
Social Links:
@clairybeary18
Connect With Our Sponsor, MartelTurnkey:
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Instagram: @jonjfarb
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Facebook Group: Real Estate Mentorship Mastermind
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In this episode, Jonathan Farber interviews Sean Parsons on his path from finding BiggerPockets and this podcast to making his first acquisition. Sean is an out of state turnkey investor balancing a W2 from Seattle, Washington. In this episode, we walk through topics like: how to get yourself through your first deal, the benefits of a first turnkey deal, turnkey provider operations, and more!
Top Takeaways:
Why you havenโt done your first deal and how to change that - 13:45 - 15:00
- A down payment is a lot of money - remind yourself that youโre making a researched investment
- Real estate is risky - a smart strategy can weather the storm and come back stronger
- Accountability groups and self talk can keep you grounded and approaching your goals
You should still do a turnkey deal the first time around - 15:15 - 17:00
- Turnkey is not a big earner, but itโs still immensely valuable for teaching you the process
- One of the biggest assets turnkey provides is a prebuilt team for you to learn from
- Think of this deal as your training wheels to make the biggest leap possible on the next one
Understanding the role of a turnkey provider - 24:15 - 27:30
- The basic model is to find off market property, add market value, install a manager, and sell
- This creates a very attractive product for inexperienced investors because itโs a complete package
- The downside is that the returns trend smaller because the provider is doing more work
How to bring value to Sean Parsons:
- Happy to meet, he has ideas on data analysis tools for agents and wholesalers
Social Links:
biggerpockets.com/users/SeanP193
Connect With Our Sponsor, MartelTurnkey:
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In this episode, Jonathan Farber interviews Adam Zach on his journey from an accidental househack in college to amassing 26 properties for himself or with a partner. Adam is a real estate-addicted civil engineer based in Fargo, North Dakota. In this episode, we get into topics like: starting down your real estate path, building a business that generates tenant flow, scaling your real estate business, and more!
Top Takeaways:
Moving from choosing real estate to doing real estate - 11:30 - 14:45
- There are many reasons real estate is a more attractive venture than a W2 job
- Take whatever you have and use it to your advantage, if you have an idea run it by someone
- Utilize any resources in your area like colleges or hospitals to create business
Creating tenant flow to minimize vacancy - 15:15 - 16:16
- You can take this approach as far as creating a business plan around specific tenants
- Donโt be afraid to offer your other deals to someone who walks away from one
- The worst that can happen is someone says no, and thatโs just part of the business
Scaling your strategy into financial freedom - 18:15 - 19:45
- Once you have your plan down itโs time to expand in every aspect
- If you havenโt already, start building your team and finding business partners
- Get familiar with commercial lending, since youโll soon be out of personal capital
How to bring value to Adam Zach:
- Check out his website and his mission to create more homeowners
Resources:
Book by Seth Godin: Linchpin
Social Links:
biggerpockets.com/users/AZ-ND
setyourrent.com
engineeringrei.com
Connect With Our Sponsor, MartelTurnkey:
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Facebook Group: Real Estate Mentorship Mastermind
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Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Savannah Arroyo on her path from discovering BiggerPockets on Youtube to acquiring multiple properties across the country, including a syndication. Savannah, The Networth Nurse, is an out of state investor based in Los Angeles, California. In this episode, we delve into topics like: getting straight into your first remote deal, getting ready to roll on multifamily, finding multifamily mentors, and more!
Top Takeaways:
Diving straight into your first out of state deal - 8:15 - 9:45
- Step one is always to evaluate your market and find one that will work for you if home is too much
- Evaluate the investing options and choose one that matches your comfort and experience level
- Turnkeys are still a great start in the right neighborhood and market
Preparing yourself to make the jump to multifamily - 13:30 - 15:30
- As with everything in real estate, education is the first step, because there are differences
- If you want to save yourself time, find a mentorship or coaching program to give you a kick
- Any way you can find to benefit from the experience of others will push you forward
Finding a mentor specific to multifamily - 15:45 - 21:15
- With few connections, the existing programs are a good enough start, but still expensive
- The more you network, though, the more opportunities youโll find for mutual value
- Because of all the roles a multifamily deal requires, there are many opportunities to learn and help
How to bring value to Savannah Arroyo:
- Check out her social media and share
- Bring content campaign skills and reach out
Resources:
Book by Michael Blank: Financial Freedom with Real Estate Investing
Social Links:
biggerpockets.com/users/SavannahA2
thenetworthnurse.com
linktr.ee/thenetworthnurse
savannah@thenetworthnurse.com
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Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Ben Sternberg on his road from kicking off his real estate education in March 2020 to closing his first rental only eight months later. Ben is a rookie investor based in Philadelphia, Pennsylvania, who is just beginning his real estate operation. In this episode, we dig into topics like: deciding the best market to start in, escaping analysis paralysis, assembling your first deal, and more!
Top Takeaways:
Evaluating whether to buy in your home market - 10:00 - 12:30
- Be realistic about whether or not you have the capital to compete in the market you live in
- If the answer is no, start looking elsewhere and donโt be afraid to cast a wide net
- Once you find prospective markets, find the investor groups there and get in touch
Getting yourself out of analysis paralysis - 13:30 - 14:45
- You shouldnโt just ignore the numbers and jump in recklessly
- The key is constructing a model for deal analyzing with everything you need and nothing you donโt
- As long as youโve set your criteria, it wonโt take more than five minutes to get a yes or no
Putting together your first deal - 15:15 - 16:30
- It is entirely possible to build your whole team virtually, proven through the pandemic
- BiggerPockets and Facebook have already collected all the professionals you want to work with
- Network with everyone you meet and ask them for what you donโt have yet
Resources:
neighborhoodscout.com
multifamilyu.com
Social Links:
biggerpockets.com/users/26sternberg
facebook.com/Ben.sternberg
Connect With Our Sponsor, MartelTurnkey:
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In this episode, Jonathan Farber and Claire Rosenberg catch up on the latest in their respective real estate adventures. In this episode, we reflect on topics like: STR cohosting lessons, finding vendors to use with STRs, getting the right education in digital marketing, and more!
Top Takeaways:
Lessons from developing a cohosting property - 5:15 - 7:45
- If your contractors arenโt giving you the quality you want, address the cause of the problem
- Maybe you need to provide more resources to clearly communicate what you want
- Build a checklist that includes everything you want to be addressed
Filling vendor roles for STR - 8:00 - 12:45
- TurnoverBnB integrates directly with Airbnb to service your unit when a guest leaves
- If your clear expectations arenโt being met, it might be worth it to start over with someone new
- Look in Airbnb Facebook groups local to your area for recommendations
What you learn launching an online course - 13:30 - 23:00
- You will get somewhere without much research, but it may hurt your initial product
- Getting the right help from experts in your topic can keep you on the right track
- A major indicator is whether your advisor is doing more telling or more asking
Resources:
turnoverbnb.com
thumbtack.com
thequellco.com/lines
grainger.com/content/cof_financing
Social Links:
biggerpockets.com/users/ClaireR10
IG: @clairybeary18
info@shorttermmadeeasy.com
https://www.shorttermmadeeasy.com
Connect With Our Sponsor, MartelTurnkey:
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Schedule a Call
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jonjfarber@outlook.com
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
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In this episode, Jonathan Farber and Claire Rosenberg share what theyโve learned about leveraging 401k retirement plans for real estate. In this episode, we jump into topics like: how can you use a 401k for real estate, methods for employing the strategy, why 401ks are rarely employed in real estate, and more!
Top Takeaways:
The concept of buying real estate with a 401k - 5:45 - 9:00
- While every provider will have a different setup, you can usually take some money out of it
- While there are often interest fees, they can be much smaller than expected
- When you consider it as a vehicle to start investing in real estate, itโs a logical step
What you need to do to use this strategy - 9:30 - 10:45
- The first place to go is your plan provider, such as Fidelity
- You choose the timeline to pay the money back out of your paycheck
- This means you can choose how big of an impact the transaction has on your cash flow
Understanding why 401ks are so infrequently used - 11:00 - 13:45
- Thereโs a lot of stigma around ever touching the money in a 401k prior to retirement
- This makes even investors whoโve heard of it hesitant to approach it seriously
- Lenders donโt care where the funds are from, as long as they can be verified
Social Links:
biggerpockets.com/users/ClaireR10
IG: @clairybeary18
info@shorttermmadeeasy.com
https://www.shorttermmadeeasy.com
Connect With Our Sponsor, MartelTurnkey:
martelturnkey.com
Schedule a Call
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Connect With The host, Jonathan Farber Here!
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LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
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In this episode, Jonathan Farber interviews Matt Anderson on his road from discovering the leverage that a real estate investment can provide to simultaneously building a six figure real estate operation alongside his own legal firm. Matt is an investor and attorney based in Nashville, Tennessee. In this episode, we get into topics like: a beginnerโs wholesaling education, how to get started in real estate, reliable ways to find mentors, and more!
Top Takeaways:
Lessons from wholesaling at the start - 13:00 - 14:00
- Donโt trick yourself into thinking youโll work the most effectively by yourself
- Every relationship you create will be an opportunity for you to give and receive value
- Every business needs more people to scale
Starting over in real estate today, from someone who is - 16:00 - 17:00
- Your first key step has to be to establish deal flow
- If you have deals at the ready, there are loads of options for what you can do with them
- A sure bet for any investor is finding and contributing to someone in your chosen niche
Strategies for finding mentors - 17:15 - 18:45
- One approach that never fails is being persistent in adding value to someoneโs life
- This is the best way to get firsthand knowledge without having to pay a coaching fee
- Even if you think you donโt know how to help, consistent dedication will get you there
How to bring value to Matt Anderson:
- Check out his law firm and his title company
Resources:
Book by Brandon Turner: The Book on Investing in Real Estate with No (and Low) Money Down
Social Links:
biggerpockets.com/users/Manderson7_
andersonlegaltn.com
torotitle.com
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In this episode, Jonathan Farber interviews Tim Hubbard on his journey from his first househack after reading Rich Dad Poor Dad to building an operation with over 30 units that can be run from another country. Tim is a short term rental expert and podcaster working from Columbia. In this episode, we delve into topics like: getting STR going without a W2, benefits of STR, finding STR markets, and more!
Top Takeaways:
Starting up short term rentals without a full time job - 12:15 - 14:00
- Any employment you can keep while you get your first few properties done will help
- After youโve established a track record, you can more easily get financing just from real estate
- Keep in mind that in multifamily, collected rent can often count towards your DTI income
The benefits of short term rentals over traditional turnkey long term - 15:00 - 16:15
- While traditional rentals are usually a safe bet, the returns are limited and not cash heavy
- Creating an STR property or two can quickly replace your income if executed correctly
- If youโre in the right market, that property can still appreciate and pay out big later on
Prime markets for short term rentals - 17:00 - 19:30
- All the usual metrics for desirable markets apply to STR properties as well
- This can benefit if thereโs an issue and you need to rent the property long term
- The key to a full STR is finding the neighborhood in that city that is friendly to the model
How to bring value to Tim Hubbard:
- Check out his REST Methods website and his STR Riches podcast
Resources:
Book by Tim Ferriss: The 4-Hour Workweek
indeed.com
Book by Claudio Fernรกndez-Arรกoz: It's Not the How Or the What But the Who
guesty.com
hello.pricelabs.co
hostfully.com
hubstaff.com
notion.so
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timhubbard.com
restmethods.com
podcasts.apple.com/us/podcast/short-term-rental-riches
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Facebook Group: Real Estate Mentorship Mastermind
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In this episode, Jonathan Farber interviews Olenka Cullinan on her path from moving to the US and starting a real estate business to developing multiple scaled operations and an in demand consulting business, in addition to multiple programs with the goal of enabling powerful women in business. Olenka is a business and mindset coach based in Arizona. In this episode, we dig into topics like: starting smart in real estate, deciding your strategy right now, balancing education and action, and more!
Top Takeaways:
Getting started with real estate the smart way - 13:15 - 17:15
- The first priority has to be to establish your motivation for dealing in real estate
- Even if you think you have no useful skills, you will start finding your strengths if you try
- Masterminds and coaches can also help you determine which of those skills are the most attractive
Actions you can take right now to find your path - 17:45 - 19:30
- Start by asking yourself what drives you until you get the truth - money, success, attention, what
- Make it into a tangible goal that you can reach within 6 months and then divide that up
- Do a braindump and list out everything you think you need for success - then cut it down
Creating balance between learning and doing - 20:45 - 23:45
- Thereโs no rule that you canโt learn what you need to know while getting your hands dirty
- The more you try, the more youโll figure out what it is you donโt know
- Connecting with mentors you can model your strategy on is a good way to get outside input
How to bring value to Olenka Cullinan:
- Check out her Executive Women Mastermind
Social Links:
https://istartfirst.com/
@olenkacullinan
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Facebook Group: Real Estate Mentorship Mastermind
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In this episode, Jonathan Farber gets into his recent experiences in standing up several new properties. In this episode, we look at topics like: sticking with a new objective, designing your systems for you, preparing your business to transact, and more!
Top Takeaways:
Persevering through the challenges of new endeavors - 2:00 - 3:15
- Remember that everything you start is as hard as it will get
- The more you do something the more you will learn and the easier it will get
- If it helps you, develop a system for doing a new task and use it until you see whatโs wrong with it
Creating systems that work for you - 4:00 - 5:45
- As you get a few reps of a new objective done, notice whatโs working and what isnโt
- Turn these into a checklist or process that you can repeat to take the guesswork out
- Try Kit to get lists of furniture or equipment that others are using
Building your business well before youโre thirsty - 6:15 - 7:45
- You might seem on your way to your first deals, but you wonโt get anywhere without trade lines
- One way to accelerate the process is using net 30 to quickly build business credit
- If you get this done before you start submitting applications, youโll save time on initial failures
Resources:
kit.co
Book by Tim Ferriss: The 4-Hour Workweek
Airbnb Automated Youtube Channel
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In this episode, Jonathan Farber interviews Josh Anderson on his journey from exiting finance by getting his real estate license to building a brokering/investing combo business with over 70 doors. John is an agent, multifamily investor, and veteran based in Nashville, Tennessee. In this episode, we get into topics like: how to get started in real estate, finding the deals you want, why you need an agent in your operation, and more!
Top Takeaways:
The best way to get started in real estate today - 13:15 - 16:30
- Househack a duplex or other small multifamily as your primary residence
- Repeat every 18 months and fill the half that you vacate
- Other strategies like Airbnb are attractive but they are often highly market dependent
Where to look for the deals in your market - 18:45 - 22:15
- Depending on what you want to do with the property, you could still look on the MLS
- Off market properties are much harder to come across when inventory is low
- Good multifamily deals are also more frequent off market than on
The benefits of bringing an agent into your team - 23:00 - 24:30
- The agent is one of the most key players in any real estate operation
- Without an effective agent, your deal flow is limited to what you personally can dig up
- Professional agencies can bring greater resources to bear on your side, just by volume alone
How to bring value to Josh Anderson:
- Check out his Youtube channel
Resources:
Book by Gino Wickman: Rocket Fuel
Book by Gary W. Keller: The ONE Thing
reonomy.com
Social Links:
joshandersonrealestate.com/about/josh-anderson
youtube.com/user/TheAndersonGroupTN
facebook.com/NashvillesRealtor
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Facebook Group: Real Estate Mentorship Mastermind
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In this episode, Jonathan Farber interviews Ruben Garcia on his path from leaving UPS as a driver to get his real estate license to building a thriving business that harnesses the market through consulting, investing, and brokering real estate. Ruben is a real estate agent based in Fayetteville, North Carolina. In this episode, we break down topics like: finding the real estate strategy for you, how to find the right broker, commission structure on a brokered sale, and more!
Top Takeaways:
Choosing a strategy for starting in real estate - 10:00 - 12:15
- If your approach doesnโt match what you want out of it, you wonโt last long
- A brokerage isnโt easy to start, but getting on track now will help later if you want it
- For your asset type, it may just make more sense for you to find a good broker nearby
Finding a broker that will drive you forward - 13:00 - 17:00
- Start at your fundamental real estate dreams
- The brokerage you want is one that will help you grow the skills to use your real estate for you
- The fee breakdown will directly affect your bottom line, so look closely
Breaking down the commission split on selling a property - 17:45 - 21:30
- Based on market, agents get around 6% of the closing cost
- The buying and listing agents then split that between them, then among each firm
- Having an open discussion about fees up front helps make sure everything stays fair
How to bring value to Ruben Garcia:
- Check out his PASS play real estate course
Resources:
kw.com
exprealty.com
liondesk.com
rubengarcia.exprealty.careers/
ruben-s-school-d435.thinkific.com/courses/p-a-s-s-play
Social Links:
https://www.biggerpockets.com/users/ProvenByRuben
Ruben Garcia on Youtube
@provenbyruben
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In this episode, Jonathan Farber interviews John Warren on his road from his first four-unit on his path to financial freedom to acquiring over 60 units across 7 deals and closing over 100 deals as an agent. John is a broker and multifamily investor based in Chicago, Illinois. In this episode, we jump into topics like: locating capital for new investors, finding the right neighborhood, scaling the way that works for you, and more!
Top Takeaways:
Finding capital when you think you have none - 8:00 - 9:30
- As long as you have a job and good credit, youโre still lendable
- Look at dormant assets like a HELOC or refinance on a house
- Youโll still end up with a lot of work but youโll have something under your belt
Choosing the neighborhood youโll succeed in - 11:00 - 14:30
- If you run the numbers and look for cashflow, youโre on the right track from the beginning
- Keep in mind your goals and remember that the higher the return, the more work it likely takes
- When youโre ready to move up, start networking with the commercial side and tap them
Understanding strategies for scaling - 17:30 - 20:00
- If and when you move from residential to commercial, it should be to meet your needs
- One major pull is commercial lending can be more accessible once you have a record
- Even if youโre happy with your choice, keep track of your goals and be flexible
How to bring value to John Warren:
- Looking to grow his brokerage JW Group
Resources:
zillow.com
cozy.co
Social Links:
biggerpockets.com/users/jwarrenbroker
secondcity-re.com/agent/john
(708) 315-7310
jwarrenbroker@gmail.com
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In this episode, Jonathan Farber interviews Tom Shallcross on his journey from stumbling into a househack to cut his commute to acquiring over 20 units in the span of two years. Tom is a flipper, investor, and dad based in Chicago, Illinois. In this episode, we dive into topics like: scaling your operation quickly, finding deal flow in expensive markets, lessons learned on the way up, and more!
Top Takeaways:
Scaling on an accelerated timeline - 9:15 - 10:30
- A key factor in your scale rate is how little you can do on each property
- The more bogged down you are in the details, the more time you have to spend on every deal
- If you can automate your acquisitions, rehab, and operations, youโre well on your way
Generating deal flow in an expensive market - 12:30 - 13:45
- Get on every list you can to maximize your exposure
- Donโt be afraid to make a lot of offers, as youโll probably only get a few
- The better you understand your investing criteria, the more confident you can be in your deals
Lessons from a growing investor - 14:30 - 15:45
- If you want to become an investor you have to do what investors do
- Educating yourself to no end will never return the investment until you make an offer
- Learn the difference between doing an activity and being productive
How to bring value to Tom Shallcross:
- Check out his podcast Straight Up Chicago Investor with Mark Ainley
Resources:
Book by Dan Sullivan: Who Not How
straightupchicagoinvestor.com
Social Links:
biggerpockets.com/users/TomS219
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In this episode, Jonathan Farber reveals some of his recent critical revelations for accelerating your portfolio with maximized returns. In this episode, we dive into topics like: the best way to get short term rental loans, limiting the debt in your name, and more!
Top Takeaways:
Intricacies of short term rental mortgages - 1:45 - 9:45
- The basic concept is getting a second home loan to buy the property then get high returns
- The downside to this loan type is they only show as debt, with no income initially
- The power move is to get an investment loan with an STR appraisal
Using your entities to limit your personal debt - 12:45 - 16:00
- If you donโt own the building, you donโt have the mortgage to impact your DTI
- The earlier you create a business entity, the more time you have to develop its record
- Strategically positioning the ownership of your assets can free up more debt to work with
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Facebook Group: Real Estate Mentorship Mastermind
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In this episode, Jonathan Farber interviews Yosef Lee on his path from finding multifamily as a tool to build wealth to closing a 44 unit in his first deal. Yosef is a full time lawyer and side hustle syndicator based in New York City. In this episode, we delve into topics like: selecting an asset class, deciding if you need a mastermind, why you need to invest at distance, and more!
Top Takeaways:
Choosing an asset class based on your needs - 11:45 - 14:00
- Compare the various types of property and determine what will help you reach your goals
- Multifamily has benefits that help many people, specifically the work to scale ratio
- Commercial real estate can fluctuate with the economy, but people will always need housing
Is a mastermind right for you - 15:15 - 17:00
- Although there are many free resources available, they canโt help you take action
- A mastermind or a coach can be there to give you the kick and confidence you need to act
- Shop around different groups and look for who you can relate to
The power of investing outside your home market - 17:15 - 20:15
- If you live in an expensive housing market, investing there is setting yourself up for struggle
- You will eventually learn that a good system can run a property anywhere
- This expands your potential market to anywhere with an internet connection
Social Links:
biggerpockets.com/users/YosefL
facebook.com/yosefyourbrosef
linkedin.com/in/yosefyourbrosef
@milliondoorclub
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Instagram: @jonjfarb
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Facebook Group: Real Estate Mentorship Mastermind
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In this episode, Jonathan Farber interviews Garrett Sutton on his road from keeping his first property as a rental by accident to creating a law office specializing in real estate. Garrett is a lawyer and bestselling author with the Rich Dad company with expertise in asset protection. In this episode, we dive into topics like: buying property the smart way, why to call a lawyer every time, where to establish your entities, and more!
Top Takeaways:
The basics of how you should legally buy a property - 10:00 - 12:45
- Insurance is always the first line of defense, but canโt be relied on for every claim
- The downside to keeping the property in your individual name is you are personally liable
- If the property is transferred to an LLC, the liability is restricted to its assets
Why you should call a lawyer before you ever sign a deal - 13:30 - 14:45
- Lawyers arenโt looking to make money from 15 minute first consultations
- Both parties want to know theyโll be happy working with the other
- If you really want to cut costs, do the bulk of the learning on your own, then come with questions
Where your entities should be established - 18:15 - 21:45
- If youโre doing transactional real estate like flipping, youโre probably being taxed as an S corp
- If youโre holding real estate, put it in an LLC in the state where the property is
- That LLC should then be owned by an LLC in an asset protection state
How to bring value to Garrett Sutton:
- Check out his books and schedule a consultation
Resources:
Book by Garrett Sutton: Loopholes of Real Estate
Book by Garrett Sutton: Scam-Proof Your Assets
Social Links:
corporatedirect.com
(800) 600-1760
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In this episode, Jonathan Farber interviews Kaylee McMahon on her journey from everyday bored retail investor to The Apartment Queen. Kaylee is a major syndicator and key principal with apartment assets in Arizona and Texas. In this episode, we dig into topics like: how a new investor should structure a syndication, taking action versus being careful, who benefits the most from coaching, and more!
Top Takeaways:
Structuring multifamily deals as a new investor - 10:45 - 13:45
- The basic principle is that the greater the assumed risk proportion, the greater the payout
- One point of reference is that a guarantor, or key principal, gets roughly 5% of a deal
- The payout should also be split in accordance to the work done, be it more or less
Balancing the momentum of taking action with the caution of protecting yourself - 14:45 - 17:45
- You should be scared going in, or you donโt know as much as you need to
- Find the people who are where you want to be and start adding value to them
- Real estate is a team sport, and one of the most reliable ways to grow is to reach up and connect
Who is right for multifamily coaching - 18:30 - 21:30
- The highly analytical or numbers-oriented investor will benefit the most from a coaching program
- A more people-oriented investor will have many of the benefits from that already
- The value you get from a program like that depends on knowing your best learning style
How to bring value to Kaylee McMahon:
- Check out her podcast and upcoming summit on her website
Resources:
theapartmentqueen.com/resources/advanced-underwriting-spreadsheet
recenter.tamu.edu
cbre.us/research-and-reports
Social Links:
theapartmentqueen.com
facebook.com/theapartmentqueen
linkedin.com/in/kaylee-mcmahon-the-apartment-queen-tm
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In this episode, Jonathan Farber interviews Stuart Grazier on his path from starting real estate out of college while in the military to approaching 100 units sold through his remote turnkey business. Stu runs a turnkey operation while on active duty in the Navy, based in Denver, Colorado. In this episode, we break down topics like: utilizing the VA loan, using smart househacking criteria, notes for renting by the room, and more!
Top Takeaways:
Taking advantage of the VA loan - 11:15 - 12:15
- The VA loan is one of the best benefits available to military members
- It allows you to get a mortgage for 0 down, with a few basic requirements
- It is an excellent way for military members to get started in real estate
Picking househack criteria to make it work - 16:00 - 18:15
- If you know youโre going to be moving in a few years, consider that added risk in your bu
- In expensive markets especially you need to make sure itโs rentable without you in it
- Get something that you would be comfortable renting if you arenโt able to sell
Tips for renting by the room - 21:15 - 22:15
- One way to ease into it and avoid some awkwardness is to find tenants in your network
- While it may not be for everyone, there is a lot of value in it
- If you donโt go with it to start, leave it in your back pocket as an option if needed
How to bring value to Stuart Grazier:
- Check out his turnkey business, looking for partners and private money lenders
Resources:
listsource.com
propstream.com
reireply.com
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In this episode, Jonathan Farber reviews some of his most recent coaching hires and expanding his Airbnb arbitrage business. In this episode, we cover topics like: using coaches as a growing business, 12 Week Year coaching, scaling arbitrage in a new city, and more!
Top Takeaways:
Bringing in coaching on a continuous basis - 2:00 - 3:30
- You can buy a lot of your time back if youโre willing to be trained in your new tasks
- You could teach yourself, but think: is your time worth more than what youโd pay a coach?
- Notion is a great example because itโs highly valuable but deeply complex
Update on 12 Week Year coaching - 3:45 - 4:15
- When adopting a new system, one of the best places to go for help is the source
- A vetted expert can save many mistakes in the system onboarding process
- Especially when passing the information on, more experience coming in always helps
Growing the Airbnb arbitrage operation - 8:00 - 10:30
- The process is renting a unit and relisting it on a short term or vacation rental site
- One challenge on acquiring rentals is establishing trade lines, or business history
- Working with the lessor is often a good way to still get the deal done, so at least try
Resources:
Book by Brian P. Moran: The 12 Week Year
Book by Pat Flynn: Superfans
Red Gregory on Youtube
tim.blog/2020/12/09/harley-finkelstein
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In this episode, Jonathan Farber interviews David Toupin on his path from reading Rich Dad Poor Dad in college to syndicating over 1000 apartments in five years. David is a multifamily syndicator and educator based in Austin, Texas. In this episode, we delve into topics like: balancing education and execution, moving outside your home market, avoiding common pitfalls, and more!
Top Takeaways:
Balancing education and execution - 10:00 - 11:00
- Most people that end up successful have adopted the 80/20 rule - 80% work, 20% learn
- Fundamentally, thereโs no point in learning if you never apply it
- Also realize that essential learning comes through the successes and failures of practice
Getting comfortable outside your home market - 14:45 - 15:30
- While itโs fine to get started nearby, itโs likely that better deals exist elsewhere
- Remember that your deals have to make money, not be somewhere you want to live
- Creating relationships in whatever market you pick is the key to setting up a successful operation
Rookie mistakes and how to avoid them - 15:45 - 17:00
- Too many people never get to the first step and make an offer on a deal
- For multifamily, underwriting is a critical skill, so make sure youโre practicing often
- As much as possible, learn what you need to do by practicing it with real deals
How to bring value to David Toupin:
- Check out Real Estate Lab
Resources:
Book by Robert Kiyosaki: Rich Dad Poor Dad
Book by Grant Cardone: The 10X Rule
Real Estate Lab Multifamily Apartment Deal Analyzer
Social Links:
biggerpockets.com/users/DavidT383
@realestatejedi
facebook.com/thedavidtoupin
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In this episode, Jonathan Farber interviews Scott Choppin on his road from learning the real estate trade from the family business to establishing a successful real estate development company thatโs going on 20 years strong. Scott is a development investor in Southern California. In this episode, we dig into topics like: learning the housing development process, getting through your first development, why to go with development over other real estate sectors, and more!
Top Takeaways:
Understanding the housing development process - 9:00 - 10:45
- The basic model is to buy land, build apartment buildings on the land, and rent the apartments
- Finding the right parcels for the specified development is a major part of the job
- The apartments are held because the asset that is created is already a cash crop
Creating your first real estate development deal - 13:00 - 18:00
- A background in a larger development firm gets you going, especially with life cycle management
- Take any experience you already have and figure out how you can apply it - use a known market
- Anything that works well is something you should probably do again
The benefits of new development over other investments - 18:15 - 21:15
- Development is an even more niche market inside the already niche market of real estate
- The fewer competitors youโre up against, the more opportunities you can create
- Additionally, because of the blank slate nature, the product can be tailored to the market
How to bring value to Scott Choppin:
- Check out his ebook available on his website
Resources:
urbanpacific.com/ebook
Social Links:
biggerpockets.com/users/Scott_Choppin
linkedin.com/in/scottchoppin
urbanpacific.com
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In this episode, Jonathan Farber interviews Shiloh Lundahl on his journey from getting his first rental after the 2008 crash to accumulating over 150 units across single family, multifamily, and mobile homes. Shiloh is a family therapist with a real estate side hustle based in Mesa, Arizona. In this episode, we dive into topics like: why to avoid the MLS, finding off market deals, sorting deals as you see them, and more!
Top Takeaways:
Why you shouldnโt buy off the MLS - 13:15 - 16:30
- The MLS lends itself to the traditional investment model, which isnโt the most effective
- The less you need out of pocket the more accessible the deals get
- The key is to find off market deals that sell for below market value
How to find off market deals - 16:45 - 20:00
- With the majority of buyers looking on the MLS, good deals are harder to find
- You can also contact owners directly to offer them a sale
- Wholesalers are another source of below-market properties, who do the marketing for you
Determining your investment criteria - 20:30 - 24:00
- Start by checking if any of the deals you get are where you want to buy
- Then filter out anything that has a price below the median for that market
- Once you see something you like, get it right away or someone else will
How to bring value to Shiloh Lundahl:
- Check out his Youtube channel
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Improve Channel on Real Estate Investing
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In this episode, Jonathan Farber talks about his recent biz dev mastermind and some literary learnings. In this episode, we get into topics like: benefits of the mastermind, growing your contentโs audience, reading Rocket Fuel, and more!
Top Takeaways:
How and why to create your own mastermind - 2:00 - 5:15
- It doesnโt need dozens of people, a few friends with common goals can work just as well
- Take a day or two to discuss your short, medium, and long term goals
- The accountability that comes from explaining how your actions further your goals is invaluable
Extending reach as a content creator - 5:30 - 7:00
- You could put more time into churning out more of the same, but that saps time from elsewhere
- One way to measure your output is to create a content calendar and then track your adherence
- You can also pull clips from your longer content to post to social media
Business book takeaways - 9:30 - 12:30
- People have fundamentally different skill sets that they can be most effective in
- Those essential activities you hate doing may really be better off as someone elseโs job
- Broad categories are visionaries and integrators
Resources:
Book by Gino Wickman: Rocket Fuel
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In this episode, Jonathan Farber interviews Anthony Metzger on his road from choosing real estate as a way to build long term wealth to joining a major syndication team. Anthony is a savvy multifamily investor based in Saint Paul, Minnesota. In this episode, we break down topics like: choosing your level of education, how to find a syndication deal, the financial split between syndication managers, and more!
Top Takeaways:
Deciding what level of education you need - 9:45 - 12:00
- Coaching programs are one of the most reliable methods of learning, but theyโre expensive
- It never hurts to use as many free resources as you can, like podcasts and videos
- Networking is a huge benefit but it can seem scary if you feel inexperienced - go anyway
Finding a deal to use in a syndication - 16:30 - 20:30
- Start by analyzing any property you can find - even Loopnet can get you practice
- Add yourself to national broker buyer lists with your criteria
- The more deals youโve analyzed the better youโll be able to process any deals you see
How a syndication split is among the contributors - 32:45 - 33:45
- Different groups will have different ways they split between general partners
- The acquisition manager, capital source, marketer, guarantor, asset manager, all get paid
- The organizer of the system will also sometimes take for creating the opportunity
Resources:
themichaelblank.com/podcasts
Ken McElroy
The Lifetime Cash Flow Podcast with Rod Khleif
Brad Sumrok
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anthony.metzger@yahoo.com
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In this episode, Jonathan Farber interviews Josh Gorokhovsky on his journey from meeting a real estate mentor in college to having 24 deals either completed or in progress and over 30 units either under management or in construction. Josh is a flipper and developer based in Los Angeles, California. In this episode, we dig into topics like: leaving a corporate job, why you need a mentor and how to get one, how to find deals on a budget, and more!
Top Takeaways:
Deciding to leave a W2 for real estate - 7:45 - 8:45
- Depending on your timeline, you may have to accept a knock to your quality of life at first
- Consider the people that depend on you and whether they would accept your decision
- If you live frugally and dedicate yourself to learning you can grow back quickly
Finding a mentor and the reason you should - 11:00 - 12:15
- A mentor will help you develop the right perspective to be successful in real estate
- Once you know someone you want to learn from, offer them all the effort you have
- Anyone youโll want to mentor you will be in high demand so show youโre worth it
Finding deals with pure grit - 16:00 - 17:15
- A tried and true method is trying as many leads as you can find
- Cold calling any numbers you can find, knocking any doors you see that fit your deals
- Driving for dollars is easily accessible and has existing systems around it
How to bring value to Josh Gorokhovsky:
- Heโs looking for deals and qualified investors in the LA area
Resources:
todoist.com
yardi.com
Social Links:
biggerpockets.com/users/JoshGorokhovsky
@joshgorok
@telosproperties
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In this episode, Jonathan Farber interviews Michael Glaspie on his path from accidentally househacking his first purchase through the VA home loan to buying over 100 rentals, syndicating a hotel, and building a brokerage catering to investors. Mike is a wholesaler and commercial real estate broker based in North Carolina. In this episode, we dive into topics like: reasons to start your own brokerage, getting your real estate license or not, creating hockey stick growth, and more!
Top Takeaways:
Why you should start your own brokerage over joining others - 9:15 - 10:30
- To begin with, you can use your license to save yourself some fees on every deal
- On a larger scale, there are very few brokerages that specialize in investment property
- Doing it your way gives you the freedom to design your own model
Should you get your license or should you stick with an agent - 11:00 - 12:45
- The job of a real estate agent has strict protocols to follow
- Depending on your asset class, varying standards may apply to any work you do as an agent
- If almost all of your investments are personal, it probably makes more sense to find an agent
What it takes to close over 130 deals in your first year - 13:00 - 15:15
- Most of real estate is a sales game, even for buyers
- Sales donโt have to be pushy - think of yourself as a professional problem solver
- Business will find you if you go where the clients are and establish credibility
How to bring value to Michael Glaspie:
- Check out his book on Amazon
Resources:
Book by Michael Glaspie: The Elite Investor
Social Links:
biggerpockets.com/users/MichaelG324
podcasts.apple.com/us/podcast
michaelsglaspie.com
linkedin.com/in/michael-glaspie
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In this episode, Jonathan Farber checks in with an update at the beginning of a new year. In this episode, we cover topics like: picking a 12 week year structure, getting life program coaching, current project happenings, and more!
Top Takeaways:
Choosing a structure for the 12 week year - 2:00 - 3:45
- A 12 week year strategy can adopt either a week view or a day view
- One challenge with existing templates is it uses a weekly timeline to lay out goals
- This makes it difficult to implement an accountability scorecard
Utilizing a life coach - 5:00 - 5:45
- Despite helping others apply it to themselves, having an outside perspective can be enlightening
- The 12 Week Year program can assign you a coach to help you execute
- The creators of the system can also offer more insight as theyโve understood it longer
Current projects - 8:45 - 10:15
- Short term rentals are consistently making money
- Airbnb arbitrage is also quick to set up with a healthy market, even now
- Behind all that, a flip deal is finally under contract
Resources:
Jonathan's Personal *12 Week Year Planner Day View
Book by Brian P. Moran: The 12 Week Year
Book by Michael Hyatt: Free to Focus
Vanessa Lau on Youtube
Louise Henry on Youtube
youtube.com/c/FlippingMasteryTV
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In this episode, Jonathan Farber interviews Richard Carey on his journey from trying on real estate as a retirement solution to paying off 20 properties from overseas while on deployment. Richard is a long distance investing specialist who focuses on avoiding debt. In this episode, we get into topics like: impressions of an early investor, tips for new investors, long distance investing strategies, and more!
Top Takeaways:
Lessons learned from a stumbling start - 14:00 - 17:00
- Find a cheap market and apply whatever advantage you have to get through the first few
- Offering cash and quick closing can be an in to sellers with flaky buyers
- Note what needs to be set up so you can operate the business remotely
Advice for a real estate newbie - 18:15 - 22:00
- Leverage is useful but it can be a tempting trap to get out of a bad spot
- Donโt believe all the hype until you can double check the numbers for yourself
- Give yourself enough time to do your first deal on a traditional 20% loan
Best strategies for long distance investing - 24:00 - 28:15
- Back when it was there for the taking, a consistent 80:1 all in to rent ratio was a safe bet
- Finding a management company that you can trust with your best interest at heart is vital
- A more lucrative strategy is buying properties that need work, if you can get a team on the ground
How to bring value to Richard Carey:
- Check out his website
Social Links:
biggerpockets.com/users/RichonMoney
richonmoney.com
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In this episode, Jonathan Farber interviews Monick Halm on her path from falling into a househack out of necessity in the LA market to creating a business empowering women to achieve financial freedom through real estate. Monick is a skilled investor across multifamily, industrial, commercial, and mobile homes. In this episode, we dig into topics like: syndicating or flipping first, learning about financial stability, getting to your first syndication, and more!
Top Takeaways:
Starting real estate with syndication vs. flipping - 19:45 - 21:15
- Running a syndication from square one is a big ask that probably shouldnโt be attempted alone
- Flipping is useful if you want to gain the experience necessary to manage deals
- In hindsight, passively investing in syndications is completely accessible from the start
Understanding your financial stability to achieve financial freedom - 21:30 - 25:00
- Relying on one stream of income puts you on tenuous financial ground - one crisis means disaster
- The more legs you can add to your financial table, the greater your financial stability
- True financial freedom means you have enough passive income to cover all your expenses
The path to your first syndication - 25:45 - 31:00
- The most vital thing to understand is itโs an entirely different thing to lose someone elseโs money
- Your first priority is to learn the rules of what you can and canโt do - find a mentor and a lawyer
- A great way to start is to work with a team that can take care of what you donโt know how to do
How to bring value to Monick Halm:
- Check out her Wealth Through Real Estate event
Resources:
realestateinvestorgoddesses.com/vwtre-2021
Social Links:
biggerpockets.com/users/Monick
reigoddesses.com
vip-assets.com
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In this episode, Jonathan Farber interviews Bronson Hill on his road from becoming an accidental landlord to raising over $15 million across his syndications. Bronson is a multifamily syndicator based in Los Angeles, California. In this episode, we delve into topics like: why joining forces will make you more money, how syndications work, understanding a syndicatorโs income, and more!
Top Takeaways:
How sharing the load can make you more money in the long run - 10:45 - 13:45
- The critical mistake most people make is undervaluing their time
- The challenge that comes with single family is the difficulty in scaling up
- Multifamily requires more people but the scale outpaces the division
Understanding the syndication model - 14:00 - 17:45
- A syndication is simply a pool of investors who combine their resources to do business
- This group then forms an entity to protect the members and segment the funds
- A syndication team then builds the deal around their expertise to ensure a good outcome
How syndicators get paid - 19:15 - 20:30
- The syndication model splits the contributors into limited and general partners
- The limited partners have very little control over the management but bring most of the money
- The general partners manage the deal but get a smaller portion out, which they then split
Resources:
mailchimp.com
calendly.com
Social Links:
biggerpockets.com/users/bronsonh
bronsonequity.com
bronson@bronsonequity.com
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In this episode, Jonathan Farber interviews Brandon Barnes on his journey from discovering a real estate mentoring program through a friend to completing over 7 figures annually without visiting the properties. Brandon is a wholesaler and flipper based in Atlanta, Georgia. In this episode, we get into topics like: how to start in wholesaling, how wholesaling works, what you can get out of a courthouse, and more!
Top Takeaways:
Starting in wholesaling from nothing - 9:30 - 10:30
- A great starting point is pulling court records to find motivated sellers
- Driving for dollars is a tried and true source of leads
- Hosting an inspection for a mentor will both get you experience and add value
Understanding the wholesaling process - 14:30 - 16:45
- Wholesaling is fundamentally finding off market properties at a discount, consistently
- Most of the effort goes into the marketing that connects you to motivated sellers
- Once the deal is found, it can go many directions like selling, holding, flipping, etc.
Utilizing the courthouse as a resource - 17:00 - 18:15
- Evictions, probate records, code violations, tax liens, and more are all recorded by the courts
- Many of the owners of properties in these situations just want the property off their hands
- An easy way to get to the right place is to ask where you would file an eviction
How to bring value to Brandon Barnes:
- Check out his mentoring program Send More Offers
Resources:
vahub.com
upwork.com
slack.com
callrail.com
mojosells.com
pipedrive.com
pandadoc.com
lexisnexis.com
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biggerpockets.com/users/BrandonB83
sendmoreoffers.com
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In this episode, Jonathan Farber interviews Damian Bergamaschi on his path from coming across real estate as a high cash flow investment to establishing multiple mobile home park syndication funds. Damian is a mobile home park investor based in New Jersey. In this episode, we dive into topics like: why to invest in mobile home parks, finding the best markets, finding deals in those markets, and more!
Top Takeaways:
Why mobile homes over any other asset class - 14:30 - 19:30
- At a high level, inflation is one of the most reliable financial trends
- Residential real estate is tightly correlated with inflation
- Financing and returns are both highly reliable for mobile home parks
Identifying markets with the best potential - 20:15 - 24:30
- Demographics are the driving force in growing markets
- Population growth, especially 30s-40s, probably the single best predictor of housing demand
- The increasing incomes created by increasing labor force drives up housing prices
Finding deals in your chosen market - 31:30 - 36:30
- Take the optimistic view on why a deal could work instead of why it couldnโt
- Use the wholesalers in your area since theyโre probably still cheaper than market
- Donโt be afraid to take a week and drive your market looking for whatโs out there
Resources:
fred.stlouisfed.org
quandl.com
Social Links:
biggerpockets.com/users/Damian_Damris
damriscapital.com
damian@damriscapital.com
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In this episode, Jonathan Farber interviews Wesley Yates on his journey from stumbling into real estate through his wife to building a nascent syndication business after establishing himself in the real estate world. Wesley is a syndicator and hospitality analyst based in Dallas, Texas. In this episode, we dig into topics like: getting educated on real estate, starting off big in real estate, understanding syndication financial perspective, and more!
Top Takeaways:
Getting your real estate education - 13:45 - 15:45
- Courses can be a valuable source of knowledge, but do your research first
- Youโre going to pay for your knowledge somehow, itโs up to you to decide how
- If you do fail make the best of it and learn everything you can from that experience
Taking a running start into high dollar real estate - 16:45 - 20:30
- If you have an in, or a networking contact, get as much as you can out of those connections
- Even if you arenโt experienced, step up and do everything you can to seize opportunity
- No matter how good it looks, things can always fall through, so see it to the end
The syndication financial breakdown - 37:45 - 42:30
- Even though the dollar signs on syndication can be big, real estate has no get rich quick plans
- When someone is describing their holdings, note the ownership percentage and the partner type
- You should be shaping your portfolio to match your long term real estate goals
How to bring value to Wesley Yates:
- Check out VFR Capital
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facebook.com/VFRCapitalInvestments
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In this episode, Jonathan Farber interviews Tony Robinson on his path from buying his first property barely more than a year ago to hosting the BiggerPockets Rookie Podcast and building a growing rental portfolio with 10 deals either done or under contract. Tony is an out of state short and normal term rental investor based in Southern California. In this episode, we break down topics like: getting your first deal done first, executing out of state, value add deals, keeping a full time job into real estate, and more!
Top Takeaways:
Why your first deal is worth the effort - 7:45 - 8:45
- Although the first deal can sometimes be overlooked, itโs a crucial step to a successful career
- Not taking the first step has killed countless dreams before they got off the ground
- Frame your early goals around finishing your first deal, not necessarily scaling immediately
Adding value to a property from across the country - 12:00 - 14:00
- If you have the right mindset about the deal and the right team to execute, you can make it work
- Think about how much you personally would get out of being able to walk through the property
- Make sure you find the right people: an agent, a general contractor, an inspector you can trust
Balancing a full time job with an expanding real estate portfolio - 19:45 - 21:00
- Thereโs no magic solution to making everything fit nicely
- Donโt worry about creating balance inside every individual day - take a longer time scale
- Intentionally balancing time across a week or even a month keeps you focused longer
How to bring value to Tony Robinson:
- Check out the BiggerPockets Real Estate Rookie Podcast
Resources:
Real Estate Rookie Podcast
Social Links:
biggerpockets.com/users/TonyR75
@tonyjrobinson
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In this episode, Jonathan Farber interviews Jason James on his path from needing a way out of his childhood lifestyle to closing over 200 deals and collecting over 80 properties. Jason is a self-made, growing real estate investor based in Louisville, Kentucky. In this episode, we delve into topics like: getting started in real estate, learning from flipping experience, why to choose flipping or BRRRR, and more!
Top Takeaways:
The firsthand path into a real estate career - 11:30 - 14:15
- You canโt go wrong calling the numbers on listing pages and for rent/for sale signs
- Personal finance can be an overlooked inroad into real estate
- With good enough credit you can get started on credit cards
Flipping tips from a veteran - 17:30 - 20:15
- Your dream flip should always match whatโs selling in your market
- Anyone you want to learn from is someone you should network with
- Donโt be afraid to ask for help - the worst possible outcome is a no
Understanding the reasons behind flipping vs. BRRRR - 20:30 - 22:30
- When designing your path, you can pick either big paychecks or passive income
- Flipping is great for irregular chunks of income that you have to work for, but they can be big
- BRRRR is a great way to build wealth over the long term, even if itโs at a slower pace
How to bring value to Jason James:
- Check out Bungalou
Resources:
Book by Napoleon Hill: Think and Grow Rich
Social Links:
biggerpockets.com/users/NeighPropLLC
bungalou.com
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In this episode, Jonathan Farber interviews Ryan Daigle on his journey from burning out of a high tech startup to nearing 100 units under management in less than a year. Ryan is a former technologist and real estate investing evangelist from Apex, North Carolina. In this episode, we dive into topics like: deciding to leave the corporate world, getting into real estate through limited partnership, identifying partners for your first deals, and more!
Top Takeaways:
Making the decision to leave the corporate world - 9:45 - 11:30
- Many people realize after years of โnormalโ investing that they arenโt where they want to be
- Real estate is an investing option that offers both higher returns and higher engagement
- Both the overlaps from a previous job and the new learning challenges are enticing
Entering real estate as a limited partner - 14:30 - 16:30
- Limited partnership is a great way to get detailed experience while making money on the deal
- The general partners are usually willing to share information with you since youโre funding
- This creates opportunities to experience the various parts of real estate deals
Finding partners starting out - 21:45 - 24:15
- A good place to start is by finding a market thatโs already growing
- You would rather your investments are pulled up, not having to be pushed by you to perform
- The next step is contacting and identifying the operators there that you can trust with your money
How to bring value to Ryan Daigle:
- Check out his mailing list or schedule a call
Social Links:
biggerpockets.com/users/rwdaigle
flywheeleq.com
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In this episode, Jonathan Farber covers what heโs looking at heading into the new year. In this episode, we discuss topics like: planning for 2021, keeping yourself pointed towards your goals, and more!
Top Takeaways:
Creating a plan for a new year - 3:30 - 9:15
- Start every time with why am I doing this
- Are your actions leading you to what you know will make you happy
- What does your perfect day look like, and how can you make it your reality
How to keep yourself on track for your goals - 9:30 - 22:30
- Use quarterly, monthly, and weekly check-ins to make sure youโre progressing
- Create a scorecard to give yourself visibility into how youโre performing
- Find a source of accountability, be it a coach or mastermind, to report in to
Resources:
Frank Kern - Core Influence - Perfect Day
Book by Brian P. Moran: The 12 Week Year
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In this episode, Jonathan Farber interviews Dan Gorman on his path from orbiting into his first multifamily deal to creating an organization building affordable housing in Rwanda. Dan is a multifamily, mobile home, and commercial real estate investor based in northern Kentucky. In this episode, we jump into topics like: getting into real estate without big down payments, getting a multifamily operation off the ground, creating apartment lead flow, and more!
Top Takeaways:
Getting started with little or no money down - 21:00 - 22:30
- Nowadays, a bank wants to see you have at least some financial investment in the outcome
- Regardless, you can still get seller financing for the majority of whatโs left in the down payment
- The main power of this is you can expand the reach of what you can afford
First steps to starting a multifamily operation - 26:15 - 31:45
- Your first task has to be identifying your goals and how real estate will help you achieve them
- This will help you shape what kind of deals you should look for
- Flipping is a nice way to get a chunk of cash up front that you can then invest elsewhere
Developing lead flow for apartments - 32:15 - 35:00
- A reliable source is brokers that specialize in working with investors
- Once you identify a market, get to know it well enough that you can tell whoโs selling next
- For bigger deals, word of mouth becomes a faster mode of information
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https://unitedpropertygroup.com/
dgorman@unitedpropertygroup.com
linkedin.com/in/dangorman
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In this episode, Jonathan Farber interviews Eric Drenckhahn on his road from his first exposure to real estate through his broker dad to building a portfolio of over 25 properties across short term rentals, land, and commercial and residential rentals. Eric is an investor in many real estate sectors to achieve his financial freedom, based in Kissimmee, Florida. In this episode, we get into topics like: acquiring property early on, deciding on your investment strategy, understanding your rentability, and more!
Top Takeaways:
Early property acquisition strategies - 10:30 - 14:15
- When youโre first starting out, you have to be willing to put in the work to get the return
- Learn how to manage and do maintenance so that you know what those are worth later
- As long as the numbers work, donโt be afraid of a property that needs work
Choosing an overall investment strategy - 15:30 - 17:00
- Turnkey properties can be an easier start but the return just isnโt there
- Turnkey also often comes with baggage that eats into your profit
- A property nearby that you can improve and either sell or rent is as close as it gets to a sure bet
Evaluating the rentability of a property - 17:30 - 21:00
- Any property can be filled - to increase demand, lower price
- Comps are a good starting point for rent, but it should fluctuate to match demand
- Thereโs no harm in testing out if the rent can be stretched when turning over
Resources:
Book by David Lindahl: Multi-Family Millions
Social Links:
biggerpockets.com/blog/contributors/ericd-2
nononsenselandlord.com
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In this episode, Jonathan Farber interviews Rock Thomas on his journey from being the hardest working real estate agent with one deal per year to building a personal brand on his astronomical success. Rock is a coach, real estate veteran, broker and investor. In this episode, we dive into topics like: understanding the lead gen superpower, why you have to start working smarter, why coaching is the key to your success, and more!
Top Takeaways:
Internalizing the power of lead gen - 8:30 - 11:20
- The two main obstacles people face are using the right language and dealing with rejection
- Once you can quantify your contacts to revenue, it gets easy to motivate yourself
- Most people never realize that the hardest work comes with the greatest rewards
The great multiplier of working smarter - 12:30 - 14:25
- You can be the hardest worker in your field but if you have the wrong strategy you will still fail
- When you start to get more efficient you will drastically increase your effectiveness
- The key to finding the right path is accepting the value of mentorship
The reason many people are hesitant to supercharge their career with coaching - 14:30 - 17:15
- All highly successful people spend what seems like huge portions of their income on education
- They understand that the only way to keep growing is to learn more all the time
- The secret that coaching unlocks is bringing new perspectives that you couldnโt have seen alone
Resources:
rockthomas.com/freebook
Social Links:
Rock Thomas on Youtube
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In this episode, Jonathan Farber interviews Jason Pero on his path from buying his first duplex with his wife to amassing over 600 units with no partners and over 1100 units total. Jason is a syndicator and multifamily investor based in Erie, Pennsylvania. In this episode, we dive into topics like: early real estate challenges, self managing as your portfolio expands, how to design your real estate goals, and more!
Top Takeaways:
Challenges learned while flying real estate solo - 21:45 - 26:45
- Even though taking constant action will bring mistakes, those mistakes are chances to learn
- Even though it might seem otherwise, you have to accept rejecting some deals that donโt work
- Itโs also important to maintain balance throughout your life to stay happy
Self managing a growing portfolio - 27:30 - 30:30
- Eventually youโll hit a point where you realize you canโt handle everything that needs to happen
- Try to build working relationships as you grow so you can hire those people later
- Spend any downtime, like driving, as time you can be productive on the phone or with audio
Figuring out your real estate goals the right way - 32:15 - 35:30
- Your starting point for your goals should be the things that make you happy
- Try to base your goals in a solid foundation of what they will actually mean to you
- The beauty of real estate is the many different approaches that can meet different needs
Resources:
rodkhleif.com/lifetime-cashflow-podcast
crimemapping.com
Social Links:
biggerpockets.com/users/JasonP15
facebook.com/jason.pero.7
linkedin.com/in/jason-pero-70aa9a6
jasonpero@yahoo.com
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In this episode, Jonathan Farber goes over six subjects that have been top of mind for him lately. In this episode, we jump into topics like: growing a wholesaling business, getting started with short term rentals, creating accountability through social media, and more!
Top Takeaways:
Building up the wholesaling business - 3:45 - 6:30
- Finding off market leads consistently is at the heart of many successful real estate strategies
- While the goal is to make money, the learning that comes with it is just as valuable
- It may take time to get to your first deal but that starts the momentum
Using short term rentals as a launchpad - 6:45 - 7:30
- Short term renting is a great beginner strategy because itโs highly accessible
- A โsecond homeโ loan gives you a low down percentage and all it takes is to live there occasionally
- You can essentially have a vacation home that makes you money when youโre not there
Using social media for accountability - 8:30 - 10:45
- The social media pod challenge requires you to post every day for 30 days
- Doing it in a group keeps everyone accountable to finishing the challenge
- Even if youโve never posted, you have to start somewhere and this is a great place
Resources:
Book by Brian P. Moran: The 12 Week Year
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In this episode, Jonathan Farber interviews Tony Ray Baker on his road from signing up for a real estate school to building a portfolio of rentals, owner occupied, long term rentals, and an Airbnb. Tony is a broker and multistrategy investor in Tucson, Arizona. In this episode, we dig into topics like: how to start off right as a broker, why more brokers arenโt investing, taking advantage of renovation loans, and more!
Top Takeaways:
The key to a successful start as a broker - 9:30 - 12:15
- If you want people to do business with you, bring them value
- The best place to start is your 100 close friends that already like you
- Bringing value can look like anything you would want to get as a homeowner
Why brokers donโt invest in real estate more - 12:45 - 15:15
- Brokers have a very difficult income type for attaining property loans
- They have to hustle constantly for their income and anything else can feel like a distraction
- After roughly five years though, many successful brokers realize the money is in investing
Using a 203k FHA renovation loan - 21:45 - 24:00
- The key to success is finding a lender who specializes in renovation loans
- This brings with it the right contractors and vendors who are accustomed to the process
- As long as you can find an appraiser who will give you a conditional value, you have good numbers
How to bring value to Tony Ray Baker:
- Check out his website
Social Links:
seetucsonhomes.com
(520) 631-8669
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In this episode, Jonathan Farber interviews Aaron Perez on his journey from helping his parents manage their property to building a land empire through buying low and selling high. Aaron is an Arizona land investor based in Idaho. In this episode, we get into topics like: utilizing tax lien foreclosures, main benefits of land transactions, creating a direct mail land campaign, and more!
Top Takeaways:
Acquiring land through tax lien foreclosures - 13:15 - 15:00
- The process varies by state, but generally a lien can be placed on long overdue taxes
- The note holder is then owed the money and after a set time can foreclose on the property
- This can be a very inexpensive way to acquire property
The big money makers in the land business - 15:15 - 16:00
- The main benefit of land transacting is the ability to buy very low and sell very high
- There are multiple ways to acquire land that are very cheap and the land is cheap too
- The land can then be sold on all the main property sites for much more than the purchase price
Acquiring land through direct mail - 16:45 - 19:15
- Ask the county for a list of tax delinquent properties
- Create a template for direct mailers that you can fill in with the name and address of the owner
- Choose your favorite mailing service and send a letter to every property on the list
How to bring value to Aaron Perez:
- Check out his land investing bootcamp
Resources:
Parcel Power Selling Strategy
letterprinting.net
travelingmailbox.com
zillow.com
redfin.com
trulioo.com
basecamp.com
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In this episode, Jonathan Farber interviews Tina Thomas on her path from doing her first few flips with an architecture background to becoming a nationwide property designer. Tina is a designer and former flipper based in Houston, Texas. In this episode, we break down topics like: when to call a designer, getting your design straight with a new property, understanding the process, and more!
Top Takeaways:
When to bring in a designer - 11:20 - 14:30
- Designers arenโt here to muck up your project and take you way out of budget
- Generally, the earlier a designer is brought on, the better the end result will be
- This gives them the most flexibility to achieve your goals within your timeline and budget
Deciding on your design goals for a new property - 17:00 - 19:30
- Even though a designer might ask for a budget, they donโt need hard numbers
- What they really want is an idea of the scale of money you want to put into the project
- This will inform the direction of everything the designer does, from floorplan to finish
The remodel process with a designer - 20:45 - 26:30
- As soon as you know youโre getting the property, bring on a designer to start planning
- Give them an idea for the scale of your rehab and keep them informed on all changes
- Once the designer starts drawing up plans, theyโll keep you and the contractor in the loop
How to bring value to Tina Thomas:
- Check out her website
Social Links:
tthomas@tinathomasdesign.com
tinathomasdesign.com
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In this episode, Jonathan Farber interviews Dave Seymour on his road from his first real estate seminar to operating a fund with over $100 million in capital. Dave is a real estate celebrity from Boston, Massachusetts. In this episode, we dig into topics like: education as a real estate beginner, experience from TV flipping, todayโs flipping tactics, and more!
Top Takeaways:
Taking a โriskโ on education as a real estate beginner - 14:45 - 21:00
- Many people may see real estate coaching or paid groups as a waste if youโre going to quit later
- For this reason, you should treat any education you buy as accountability to that investment
- If you throw away that investment you only have yourself to blame
The difference between flipping and flipping on TV - 27:45 - 31:15
- The novelty wears off after a couple seasons, then it gets hard to balance business and production
- These days, displayed costs have been fudged a bit and it can give the wrong idea
- The timelines the shows claim are sometimes visibly wrong
Flipping tactics for today - 32:00 - 00:00
- Currently the highest priority in a flip should be speed
- If you canโt complete purchase to sale in 45 days, you become vulnerable to an uncertain market
- As soon as interest rates change, the value in a deal with tight margins might evaporate
How to bring value to Dave Seymour:
- Check out the Freedom Venture fund
(781) 922-4418
freedomventure.com
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In this episode, Jonathan Farber discusses his end of year activities and goal updates. In this episode, we jump into topics like: optimizing your lending, creating a process for turnover real estate, what to buy yourself for the holidays, and more!
Top Takeaways:
Maximizing lending capacity - 3:00 - 6:00
- The two potential caps on lending are 10 loans or a high enough debt-to-income ratio
- Taking on debt when youโre well positioned is a good way to hedge against the future
- When starting a new job, for example, lendability drops dramatically for a time
Creating a wholesaling/flipping process - 6:30 - 10:30
- Split between three people, the process can be broken down quite simply
- One handles lead generation and systems to feed to an acquisitions manager who closes
- The third person offloads the property to a buyer with additional systems
Giving yourself the gift of knowledge - 11:30 - 13:00
- Instead of indulging in something wasteful, buy yourself something that will help you grow
- Courses by industry experts are a great way to improve in a specific discipline
- The purchase is an investment in your business and your financial freedom
Resources:
Book by Gary W. Keller: The ONE Thing
crackingsuperhost.com by Sean Rakidzich
leadinglandlord.com by Al Williamson
ryanpineda.com/programs/wholesaling-course by Ryan Pineda
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In this episode, Jonathan Farber interviews Claire Rosenberg on her journey from buying her first duplex out of state to growing into the short term rental market. Claire is a burgeoning investor based in New York. In this episode, we delve into topics like: learning about lease options, making deal flow for lease options, building relationships new in real estate, and more!
Top Takeaways:
Understanding lease options - 12:15 - 15:00
- The core concept is that a tenant leases the property, with the later option to buy it
- Major benefits include lower financial barriers than outright purchase and rent credits
- The structure of the deal can vary but generally the agent and the owner get a piece
Creating lease option deal flow - 16:15 - 18:30
- Your most reliable source of deals is casting a wide net
- A virtual assistant can send hundreds of texts per day, getting the initial contact before passing off
- You can then spend time building relationships instead of receiving rejections
Developing relationships as a real estate newbie - 27:00 - 29:00
- Any existing connections you have are great places to start
- Anytime you recognize something that someone would rather not be doing, offer to help
- If you see something that could be improved, make your observations heard and then listen
How to bring value to Claire Rosenberg:
- Looking to Co-host with investors on their Short Term Rental Property
Resources:
upwork.com
trulia.com
lastpass.com
slack.com
notion.so
Social Links:
biggerpockets.com/users/ClaireR10
linkedin.com/in/claire-rosenberg-291642111
facebook.com/claire.rosenberg.96
@clairybeary18
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In this episode, Jonathan Farber interviews Chris Montes on his path from using a househack to escape his astronomical NYC rent to learning the tricks of the trade in an expensive market. Chris is an expert househacker who still works a W2 tech job, based in Long Island, New York. In this episode, we dive into topics like: choosing a real estate strategy, filling units in expensive markets, getting through your first deal, and more!
Top Takeaways:
Deciding on your real estate strategy - 10:30 - 11:20
- Start by figuring out what your goals are - long term wealth, rapid growth, as soon as possible, etc
- The faster you know where you want to end up, the sooner you can set yourself on the right track
- This will help spur you into action and negate some anxiety that comes with vast options
Filling units in a challenging market - 13:45 - 15:00
- Facebook Marketplace is a vast and untapped market for finding tenants
- Know that you will have to do all your own vetting since Facebook doesnโt do tenant screening
- This doesnโt have to be your only option, but it can be a valuable tool in your belt
Overcoming apprehension and getting your first deal done - 17:50 - 20:00
- Play to your advantages to make the process as straightforward as possible
- The more you can capitalize on your strengths the better the deal will turn out
- Know that itโs ok to make sacrifices if it gets you closer to your long term goals
Resources:
facebook.com/marketplace
Social Links:
biggerpockets.com/users/ChrisM670
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In this episode, Jonathan Farber interviews Sharad Mehta on his journey from investing on the side while working as a big firm CPA to running a turnkey flipping operation, a property management company, and a software development office. Sharad is a turnkey investor and property manager based in Toronto, Ontario. In this episode, we dig into topics like: starting over in real estate today, takeaways from growing in real estate, real estate workflow by an expert, and more!
Top Takeaways:
Starting in real estate today from scratch - 15:30 - 17:30
- Step 1 is to buy a 4-plex with an FHA loan as a BRRRR property
- Repeat this a few times to build an income base and start growing wealth
- Do this in a very comfortable market and grow as much as you can before looking elsewhere
Main learnings from a growing real estate business - 19:30 - 22:00
- Systems are critical to scaling efficiently, so develop them early
- Start to think of your business like a franchise - your only goal is more deals
- Thereโs no need to paint every house a different color - or use different anything else
Building a modern real estate workflow - 22:30 - 26:30
- Direct mail is a key pillar for successful, consistent deal flow
- Use a virtual assistant to take calls and acquisition manager to make offers
- A project manager executes negotiating and brings you purchase agreements to sign
How to bring value to Sharad Mehta:
- Check out REsimpli to optimize your investing
Resources:
resimpli.com
Book by Michael E. Gerber: The E Myth
callporter.com
roofstock.com
Book by Gary W. Keller: The ONE Thing
Social Links:
biggerpockets.com/users/baruchmax1
facebook.com/REsimpli
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In this episode, Jonathan Farber interviews Michael Stohler on his journey from buying his first properties in Indiana with no knowledge to investing in multiple hotels and dozens of multifamily units. Michael is a hotel investor, JV partner, and syndicator based in Arizona. In this episode, we break down topics like: understanding how to self-manage, establishing the right tenant relationship, how to screen tenants the right way, and more!
Top Takeaways:
Figuring out self-management after your first buy - 12:00 - 15:30
- Buy your real estate through an entity to protect yourself from personal liability
- Build a team with a CPA, attorney, mentor, contractor - people to do everything you canโt
- Develop a growth mindset now so that when you scale you can already delegate
Managing tenants with a business-first relationship - 16:00 - 20:00
- Itโs crucial to set expectations before anything is ever signed
- As you gain experience be judicious with updating your lease agreements to protect yourself
- It is in your judgement how lenient you can be, but remember youโre running a business
Developing a tenant screening process - 20:30 - 27:00
- The premiere method of finding new tenants is word of mouth
- Offer your current tenants a one month discount if they refer someone
- Take advantage of free state background checks to vet applicants
How to bring value to Michael Stohler:
- Check out his upcoming hotel fund
Resources:
therichergeek.com
Social Links:
biggerpockets.com/users/mkstohler
linkedin.com/in/michaelstohler
gatewaype.com
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In this episode, Jonathan Farber shares a story from a recent unsuccessful contract and explains what heโs thinking about going into 2021. In this episode, we dig into topics like: contract deal challenges, knowledge gained from experience, and more!
Top Takeaways:
Challenges in closing a 1031 exchange deal - 4:15 - 11:45
- While inspections are expensive and not a guaranteed return, skimping on them is always a regret
- Once you start to encounter major structural issues, costs will balloon dramatically
- Always check that tenants or a property manager will be available to access units during inspection
Main learnings from a fell-through deal - 12:00 - 16:00
- If you need to be out of state for a large project, bring in a local partner to fill that gap
- Even a bunk property can teach a lot about what to avoid and watch out for
- Having several leads working at once instead of just one brings emotional stability
- Budgeting for out of pocket costs keeps a realistic expectation of sunk costs
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In this episode, Jonathan Farber interviews Alexander Felice on his road from buying his first property after being sick of his W2 job to owning 8 single family homes and getting his second multifamily deal under contract. Alex is a growing investor and content creator based in Fayetteville, North Carolina. In this episode, we break down topics like: creating your first deal with no resources, where to start your real estate career, understanding chance and how it determines your success, and more!
Top Takeaways:
Building your first deals from nothing - 11:15 - 14:45
- Look everywhere you can for the best numbers you can find
- A little sweat equity will take a property from below to above market value
- Take an FHA loan or whatever you can get to get in with little down, and save that much
Starting in single family vs. multifamily - 16:45 - 18:00
- Multifamily properties are more economically efficient than single family
- The experience and confidence gained from doing several single family deals will drive you through
- Once youโre successful in single family, you can more easily attract investors for multifamily
Understanding the role of chance in your success - 20:00 - 21:30
- There is likely a much larger effect by randomness than many people think
- Many investors in the last decade have been buoyed by a beneficial market
- The key takeaway is that resting on your laurels is a quick path to complacency and failure
How to bring value to Alexander Felice:
- Check out his real estate marketing business
Resources:
Book by George Samuel Clason: The Richest Man in Babylon
Book by Nassim Nicholas Taleb: Fooled by Randomness
Book by Nassim Nicholas Taleb: Skin in the Game
Social Links:
biggerpockets.com/users/alexanderscott
facebook.com/AlexanderFelice
brokeisachoice.com
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In this episode, Jonathan Farber interviews Eric Upchurch on his journey from using the VA loan to get his first property to syndicating over 570 doors in a year. Eric is a multifamily syndicator and veteran in Southern California. In this episode, we dive into topics like: VA and other early loans, boosting your real estate through coaching, figuring out how to bring value, and more!
Top Takeaways:
Why you should use the VA loan, or whatever you can get - 12:15 - 15:30
- The VA loan requires 0% down and no PMI on up to a 4 unit property
- See if youโre eligible for the USDA loan - you might be without even knowing it
- The FHA loan is a classic that still powers tons of deals every day
Using coaching to accelerate your real estate - 21:00 - 24:25
- Even though success is achievable on your own, it will take much longer than with help
- Learn as much as you possibly can so you can be versed in the language of real estate
- Add value everywhere you can, and youโll arrive at ways to gain value in return
How to bring value when you donโt know what someone needs - 29:30 - 32:00
- Put yourself in front of people - do livestreams, do social media posts, get your message out
- Listen more than you talk when youโre around people you want to learn from
- Put your skills on display and someone is likely to offer you the chance to use them
How to bring value to Eric Upchurch:
- Check out the book and the investing academies
Resources:
Military Multifamily Academy
Military Real Estate Investing Academy
Book by Markian Sich: Military House Hacking
Social Links:
https://www.biggerpockets.com/blog/contributors/ericupchurch
http://militaryrealestateinvesting.com/
eric@activedutypassiveincome.com
@realericupchurch
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In this episode, Jonathan Farber interviews Charles Kao on his path from growing up in the real estate industry to having a few hundred units partially or wholly owned, as well as some self-storage involvement, lending, and a brokerage. Charles is a highly diversified investor, lender, and broker based in Grand Rapids, Michigan. In this episode, we get into topics like: using credit cards for real estate, figuring out why youโre in real estate, reasons to keep a W2 as an investor, and more!
Top Takeaways:
Using credit cards to get your business off the ground - 11:45 - 16:00
- Even with a background in lending, credit cards are a viable strategy for flipping
- The type of financing you get when exiting a property should match your money needs
- When you run the numbers, a low interest rate is often cheaper than all the traditional fees
Understanding your real estate drive - 22:15 - 26:45
- Even in a well paying job, always consider if youโre getting what you want out of it
- Try to imagine if you could make more working for yourself or someone else
- Keep setting goals and reevaluating what you want to get out of real estate
The benefits that W2 jobs provide to investors - 27:15 - 32:45
- There can always be events you canโt plan for, no matter what your situation
- A W2 job brings much stronger benefits and can come with a lot of peace of mind
- Additionally, banks are very attracted to the stability of W2 income on your sheet
How to bring value to Charles Kao:
- Looking for agents with Chinese proficiency
Social Links:
https://www.biggerpockets.com/users/HouseofKaos
@charlesckao
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In this episode, Jonathan Farber interviews Jens Nielsen on his journey from first realizing real estate was the path to building wealth to building a real estate business with personal investments in a variety of properties. Jens is a multistrategy investor and professional syndicator based in New Mexico. In this episode, we dive into topics like: scaling to a partnered deal, taking advantage of your advantages, starting syndication advice, and more!
Top Takeaways:
Building a bigger deal once you have a foothold - 12:15 - 14:00
- Start building relationships with potential investors as soon as possible
- On market deals can still be perfectly viable as long as the numbers work
- Implement as many of the lessons from your smaller deals as you can
Putting your skills to their best use - 14:30 - 15:45
- Look at your successes and determine what you are most effective at doing
- If you struggle with a certain aspect, start by working on strengthening that skill
- If itโs really something you donโt like, find someone you can add to your team with that expertise
Lessons from early syndicating - 17:00 - 18:30
- If youโre already suspecting issues, do a more thorough inspection to more accurately assess rehab
- Make sure youโre in constant and transparent communication with your partners
- With a properly structured deal, setbacks donโt turn into disasters
How to bring value to Jens Nielsen:
- Check out his multifamily investing coaching program
Resources:
apartments.com
Social Links:
biggerpockets.com/users/JensNielsen
opendoorscapital.com
opendoorscapital.com/call
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In this episode, Jonathan Farber interviews Melchor Domantay Jr. on his path from trying to move out of his parents house to owning 27 units fully to himself. Melchor is an investor, broker, and real estate hustler in Chicago, Illinois. In this episode, we dig into topics like: scaling after your first deal, implementing seller financing, considering your financial freedom, and more!
Top Takeaways:
Scaling from your first buy - 10:00 - 13:00
- Having a good chunk of equity in the deal keeps you from getting overleveraged
- Ask anyone you buy from if they have anything else to sell
- Be ready to embrace creative financing and work with sellers to find a mutually beneficial deal
Leveraging seller financing to get the best deal - 14:00 - 17:15
- If a seller owns the property free and clear, they can offer their own financing and be the bank
- Show the seller how you can meet their needs while they meet yours with different terms
- Approach the situation with the perspective of solving a problem they have
Whether to keep your job and finding your financial freedom - 22:00 - 24:00
- If you like your job find a way to keep it - if you hate it find something you love
- Your definition of financial freedom doesnโt have to be static over time
- If you find that your job and real estate go hand in hand, thereโs no requirement to leave
How to bring value to Melchor Domantay Jr.:
- Check out his brokerage
Social Links:
https://www.biggerpockets.com/users/MelchorD
http://mvdproperties.com/
jayrdomantay@gmail.com
(708) 979-0852
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In this episode, Jonathan Farber interviews Benjamin Lapidus on his road from starting real estate with single family rentals as his third career attempt to developing a real estate family that spans several states with a focus on self storage assets. Benjamin is a partner and CFO of Spartan Capital, as well as host of the Best Ever Conference in Denver. In this episode, we get into topics like: finding the right partners for you, building the first deal, finding self storage deals today, and more!
Top Takeaways:
Finding partners that work best with you - 17:00 - 21:15
- Reflect on everything you try - every experience will give you both positive and negative feedback
- The first place to look is people you get along with, but it has to be business first, friends second
- Your goal should be to form a lasting partnership so treat it like any other committed relationship
Constructing your first deal - 23:30 - 25:30
- Start looking for places with high rents, high demand, and an empty spot in the supply web
- Once you find something, be ready to put in more effort than anyone else
- That commitment will prove your value to others in the space and give you something to build on
Finding self storage deals in 2020 - 28:15 - 31:00
- One of the most lucrative deal types has existing storage in operation with room to expand
- The self storage market is pretty small - you can build relationships with every broker
- The wider marketing strategy you try, the greater number of opportunities youโll find
How to bring value to Benjamin Lapidus:
- Check out the upcoming virtual Best Ever Conference
Resources:
bec2021.com
Social Links:
biggerpockets.com/users/BenjaminL6
ben@spartan-investors.com
@benlapidus
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In this episode, Jonathan Farber interviews Alex Talcott on his journey from graduating from Notre Dame law to building a lifestyle as a teacher, consultant, investor, and lawyer. Alex is an educator and investor in many different asset types, based in New Hampshire. In this episode, we dig into topics like: growing a network from nothing, building a value add brand, the upsides of joint ventures, and more!
Top Takeaways:
Creating connections through sweat equity - 9:30 - 12:00
- Itโs not what you know, or who you know - itโs who you make it your business to know
- Proactively networking is often more helpful than you would think for the host
- If you can reframe your goal as how you can benefit others, youโll make fast progress
Building your brand as a value adder - 19:00 - 21:15
- Knowing yourself well enough to know how you interact with people is crucial
- Everything you can do to make peopleโs lives easier is probably worth it
- Acknowledging your shortcomings or differences gives people trust that youโre acting in good faith
Benefits of joint ventures over syndications - 29:30 - 34:30
- A correctly run joint venture doesnโt qualify as a security, therefore it isnโt regulated like one
- A joint venture is just a straightforward way for people with aligned interests to collaborate
- Joint ventures are good for building a true investing club as opposed to a partner list
How to bring value to Alex Talcott:
- Looking for analysts and contributors
Resources:
Book by Chris Matthews: Hardball
Social Links:
linkedin.com/in/alextalcottjd
realnext.org
@lexdanre
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In this episode, Jonathan Farber interviews Maurice Askins Jr on his journey from starting off as a wholesaler finding buyers and sellers on Craigslist to building a comprehensive wholesaling workflow that churns out deals. Maurice is a single family and mobile home wholesaler and flipper in Texas and Louisiana. In this episode, we dig into topics like: taking an experienced approach to starting in wholesaling, contacting motivated sellers the best way, building a wholesaling management system, and more!
Top Takeaways:
Starting off in wholesaling with the benefit of hindsight - 8:15 - 11:45
- First: get a website up and running that you can drive traffic to
- Then: start building relationships and growing your network, itโs basically free marketing
- Look for the connections others might not - junk haulers, uber drivers, contractors
Approaching motivated sellers effectively - 23:45 - 28:00
- Know going in what information you want to get, but focus on building a relationship
- If youโre getting referred leads, theyโre already warmer than a cold call
- Try getting on the phone and just asking how you can help to get started
Constructing an effective system for managing a wholesaling business - 32:15 - 33:45
- Podio is unbeatable when it comes to customizability - it does what you want
- A power dialer is a necessity for getting through stacks of leads
- Use a service to get a phone number and separate your work and personal calls
Resources:
podio.com
phoneburner.com
vumber.com
Social Links:
biggerpockets.com/users/MauriceA5
linkedin.com/in/mauriceaskinsjr
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In this episode, Jonathan Farber interviews Gabriel Hamel on his path from his first three househacks to holding around 175 units through seller-financed property and growing into mobile home parks. Gabriel is a seller financing expert with a booming multifamily business based in Oregon. In this episode, we break down topics like: why you should use seller financing, seller financing top tips, the drive behind your real estate, and more!
Top Takeaways:
The benefits of seller financing - 9:30 - 11:00
- When you have to go to a bank, they set the terms of the loan and those terms are rigid
- In seller financing, the property seller collects the mortgage and you still own the property
- The huge benefit is that the terms are whatever the seller is willing to agree on
How to optimize your seller-financed deals - 24:15 - 26:45
- Offering higher payments with little to no down hedges some risk and can open more doors
- Basing your numbers on actual rents further decreases the risk
- As long as you can make cash flow happen in those conditions, it only goes up from there
Figuring out why youโre doing real estate - 28:45 - 33:00
- Based on how you want to live, you can be financially free very rapidly
- Nearly all successful real estate investors are driven by something that only real estate can give
- If you can put everything into real estate for 10 years, youโll end up far beyond what you imagined
Resources:
gobundance.com
Social Links:
biggerpockets.com/users/GabrielHamel
@gabrielrhamel
hamelinvestments.com
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In this episode, Jonathan Farber interviews Brian Briscoe on his road from his first single family property while on active duty in the Marine Corps to completing five out of state syndications. Brian is a syndicator and real estate educator based in Maryland. In this episode, we dig into topics like: lighting off your real estate future through paid education, why you should partner on your syndications, splitting responsibilities between partners in a venture, and more!
Top Takeaways:
Supercharging your real estate career with paid education - 15:15 - 21:00
- If youโve already spent a couple years thinking youโll do it yourself, you probably wonโt
- When you start to wonder why you havenโt taken action yet, you probably need guidance
- If youโre trying to take action and realizing you donโt know enough, find more knowledge
The benefits of partnering on syndications - 21:30 - 24:45
- People that are working in the same area as you with similar goals are often prime candidates
- The fruits of your combined efforts will nearly always be more than your individual attempts
- A partnership doesnโt have to initially be forever, but it can grow if it works well
Dividing responsibilities amid a multipartner venture - 25:15 - 29:30
- The best place to start is with where each of your strengths lie
- Especially if you still have day jobs, take advantage of your schedules to assign tasks optimally
- Where your strengths overlap, do whatever works best - remember youโre on the same team
- In areas that no one excels, consider hiring that job out or bringing on another partner
How to bring value to Brian Briscoe:
- Check out the Diary of an Apartment Investor Podcast
Resources:
Book by Robert Kiyosaki: Rich Dad Poor Dad
Social Links:
biggerpockets.com/users/BrianB304
fouroakscapital.com/podcast
fouroakscapital.com
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In this episode, Jonathan Farber interviews Sterling Anderson on his journey from wholesaling single family properties to syndicating multi-hundred-unit multifamily properties. Sterling is a syndicator and flipper based in Omaha, Nebraska. In this episode, we get into topics like: choosing between flipping and wholesaling, building a deal flow through marketing, getting started with multifamily, and more!
Top Takeaways:
Flipping vs. Wholesaling - 8:30 - 9:30
- With the benefit of hindsight, wholesaling multifamily probably would have been a great start
- Wholesaling is a good way to start making money, plus it gives you a ton of industry experience
- Flipping provides very useful development experience, but can be one huge headache
Starting a marketing campaign for deal flow - 10:15 - 11:15
- Tell everyone what youโre doing - social media is free and it can generate huge traffic
- Driving for dollars doesnโt require any expensive apps - take your notepad and a pen
- You can handwrite mailers to properties from skip tracing or the county assessor
Putting together a multifamily starter kit - 15:15 - 16:15
- Relationships with brokers are a reliable way to find deals, so nurture those
- Many of your same investors from when you were doing single family will want to scale with you
- Even if those investors canโt fund the whole deal, they can vouch for you to new partners
How to bring value to Sterling Anderson:
- Looking for equity investors for syndications
Resources:
fastpeoplesearch.com
propstream.com
Book by Michael Blank: Financial Freedom with Real Estate Investing
themichaelblank.com/syndicated-deal-analyzer
Social Links:
biggerpockets.com/users/SimpleKeyHomes
sterlingcapitalomaha.com
linkedin.com/in/sterlingvision
@realestatesterling
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In this episode, Jonathan Farber interviews Shelby Osborne on her path from househacking on her VA loan to having more than 55 doors and closing nearly 350 deals. Shelby is a real estate whiz based in Fayetteville, North Carolina. In this episode, we dive into topics like: first real estate loans, getting rid of vacancy, should you self-license, and more!
Top Takeaways:
Taking advantage of the VA loan, or other available lending - 9:45 - 11:00
- Generally, all current or former service members qualify, with 0% down and no PMI required
- For non-service members, the FHA loan offers 3.5% down for first time buyers
- The big banks also often offer 5% or even 0% down loans for private residence lending
- As long as you live in the residence, you usually qualify, and you can househack the rest
Keeping rentals full - 13:15 - 14:45
- A rental in good condition will get filled as fast as you can process it, especially in growing markets
- Put yourself in a renterโs shoes - what would you want to live near, what perks would you pay for
- Also think about nearby services or attractors like schools, installations, and hospitals
Deciding whether to self-license - 15:15 - 17:30
- One of the biggest benefits of being an agent is you directly control your own income stream
- Especially for investing, being a broker builds a deeper knowledge about real estate
- The obvious bonus is that you can also benefit from both the signing fees and the investment itself
How to bring value to Shelby Osborne:
- Check out Five Pillars Realty
Social Links:
biggerpockets.com/users/ShelbyO
instagram.com/realestatewithshelbyosborne
facebook.com/RealEstatewithShelbyOsborne
fivepillarsrealty.com
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In this episode, Jonathan Farber interviews Dana Wallace on her road from becoming an investor-focused real estate agent to starting her own cannabis property specialized brokerage. Dana is a real estate broker focusing on cannabis properties from Sacramento, California. In this episode, we break down topics like: getting into compliant cannabis property, starting your own brokerage, finding cannabis real estate opportunities, and more!
Top Takeaways:
Understanding compliant cannabis property - 11:30 - 14:00
- Every market has its own set of regulations controlling commercial cannabis operations
- Research is one of the most important parts in making sure all the rules are met
- The permitted placement and number of operations directly affects the scale of operations
Starting your own real estate brokerage - 16:15 - 19:00
- If you donโt feel like the traditional brokerages are the right fit, consider starting your own
- Especially if you can find a niche to specialize in, you can set yourself up for success
- Once you define yourself like that, itโs natural to start gaining recognition and attention
Finding opportunity in the cannabis real estate industry - 20:50 - 23:45
- Stagnating industrial property is ripe to be renewed into productive cannabis commercial space
- Buy those properties and get them correctly permitted for cannabis production
- This gives you a premium feature that will attract more businesses to your properties
How to bring value to Dana Wallace:
- Reach out through her website
Resources:
Book by Spencer Johnson: Who Moved My Cheese?
420property.com
Social Links:
420estates.net
@420estates4you
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In this episode, Jonathan Farber interviews Bruce Petersen on his journey from his first deal in a 48 unit syndication at 42 to scaling his syndication business to over 1000 units. Bruce is an Austin, Texas, based apartment syndicator and real estate educator. In this episode, we get into topics like: getting a coach on your team, finding the right syndication structure, beginner investor challenges, and more!
Top Takeaways:
Finding a coach to skip a few steps - 9:15 - 12:00
- Google is your friend
- Be sure to do your research and get second opinions, but if a fit feels good it probably is
- A good coach is worth more than you will ever pay for them
Using a creative syndication strategy - 15:30 - 18:00
- Your syndication structure should match your needs - if you can handle all the management, do it
- If not, there are lots of effective, legal ways to divide the workload
- If you have the right education, you should know everything you need to run as a solo GP
Biggest hurdles for beginner investors - 18:15 - 21:00
- A lot of new investors come from big events - keep in mind the motivations of those promoters
- Understanding the challenges that will inevitably arise will prepare you to tackle them
- Having the self awareness to know if youโre capable of persevering through the challenges
How to bring value to Bruce Petersen:
- Looking for an underwriter experienced in multifamily
- Video production experience
Resources:
Book by Bruce Petersen: Syndicating Is a B*tch
Social Links:
biggerpockets.com/users/Bruce_Apt-Guy
apt-guy.com
facebook.com/theaptguy
@apt.guy
linkedin.com/in/apt-guy
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In this episode, Jonathan Farber interviews Whitney Elkins-Hutten on her road from falling into her first househack to partnering on over 4,500 units between multifamily and self storage. Whitney is a widely experienced developer and investor based in Denver, Colorado. In this episode, we dive into topics like: getting started with BRRRR, avoiding BRRRR pitfalls, finding the right broker, and more!
Top Takeaways:
Applying BRRRR to small properties - 11:30 - 14:20
- The key factor of multifamily investing is creating value
- One crucial factor to making the numbers work is getting property below market value
- Once the property has a renter, the bank will let that microbusiness pull money back out
Beginner BRRRR mistakes - 14:30 - 16:20
- Donโt fall into the trap of getting stuck in your local market
- Generating deals can be tough, so you have to dedicate time to creating deal flow
- Many people assume that they need cash, when more creative financing is often available
Finding quality brokers in your desired market - 22:30 - 28:20
- Start by checking the main listing sites for selling properties
- Note the agents that are posting the types of properties you want to buy
- This usually small list will consist of high flow brokers with your kinds of deals, so get in touch
Resources:
zillow.com
trulia.com
Social Links:
https://ashwealth.com/
ashwealthco@gmail.com
https://www.linkedin.com/in/whitneyelkinshutten/
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In this episode, Jonathan Farber interviews Mark Ritter on his expertise about lending, credit unions, and the credit industry. Mark is CEO of MBFS Credit Lending, helping connect investors with credit unions nationwide. In this episode, we get into topics like: positives of credit unions, who should work with a credit union, comparing credit unions and big banks, and more!
Top Takeaways:
The upside of working with credit unions as a new investor - 10:20 - 12:10
- As smaller institutions, youโll have the chance to talk directly with your lender
- You can have a conversation with potential lenders to figure out how to tick the right boxes
- Like in the rest of real estate, relationships are a big part of the credit union lending process
Who works best with credit unions - 12:30 - 16:45
- Credit unions have largely lost their reputation as exclusive to certain groups - very accessible
- They can make loans to fit any budget, averaging around $300k but also much bigger or smaller
- Although one union might not be a great fit, many of the thousands out there will work with you
Comparing credit union terms to the big banks - 17:45 - 25:30
- Credit union loans donโt have prepayment penalties, so theyโre incentivized to have fair rates
- Credit unions work together to expand their lending capability, which expands your lendability
- This means you donโt have to change credit unions to keep lending past traditional limits
How to bring value to Mark Ritter:
- Check out Nu Direction Lending
Social Links:
mbfs.org
Mark Ritter - Chief Executive Officer - Member Business Financial Services on LinkedIn
nudirectionlending.com
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In this episode, Jonathan Farber interviews Javier Hinojo on his road from being dragged along to a real estate boot camp to doing over 100 deals per year for the last 4 years. Javier is a flipper buy and hold investor based in Raleigh, North Carolina. In this episode, we dive into topics like: getting started in multifamily, finding deals near you, raising capital as a new investor, and more!
Top Takeaways:
Starting out big with multifamily investing - 12:15 - 14:45
- Because the stakes are much higher in multifamily, education is crucial to success
- Tens of thousands in training can be the difference between making and losing millions
- While you might not get rich on your first deal, use it as a launchpad to avoid future mistakes
Finding multifamily deals in your local market - 17:00 - 20:30
- The most reliable source of deals is the one everyone else is failing with
- Your persistence is something you can control, and you can use it to outperform others
- Being persistent doesnโt mean being rude, but it does mean following up as much as possible
Raising money without experience - 22:00 - 26:30
- Start talking to those people youโve been telling that youโre looking for real estate
- You donโt have to take a static approach - tailor your pitch to your audience
- Have a number in mind for a return you can offer when youโre asking
Resources:
listsource.com
Social Links:
biggerpockets.com/users/JavierH7
@javierhinojojr
Javier A Hinojo Jr. on Facebook
javier@ascgus.com
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In this episode, Jonathan Farber interviews Collin Schwartz and Chris Pomerleau on their endeavors from desk jobs they wanted out of to having closed on over 700 units. Collin and Chris are multifamily investing partners based in Omaha, Nebraska. In this episode, we break down topics like: avoiding the single family fallacy, doing partnerships right, going from W-2 to multifamily investing, and more!
Top Takeaways:
Understanding how to avoid the single family fallacy - 10:30 - 14:00
- While the numbers can look like they may make sense on paper, reality often eats that away
- Because resources are spread thin, everything is more expensive to take care of
- Single family ends up making less in the long term due to the buildup of inefficiency
Doing partnerships the right way - 15:15 - 18:45
- People you come across often are likely the ones most likely to work well with you
- Your priority consideration in a partner should be if your goals and values align
- You have to have trust with your partner to keep the relationship effective
Making the jump from W-2 worker to multifamily investor - 22:30 - 24:00
- Partnering with a more experienced investor is tried and true - the more value you add, the better
- If youโre looking at bigger properties, partner as an LP to start building your understanding
- Everyone has something to offer, your job is to figure out what yours is
How to bring value to Collin Schwartz and Chris Pomerleau:
- Bring capital and deal for syndications
Social Links:
biggerpockets.com/users/CollinSchwartz
biggerpockets.com/users/CKP
parkaveinvesting.com
@collinschwartz
@chrispomerleau
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martelturnkey.com
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Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
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In this episode, Jonathan Farber interviews Michael Desrosiers on his journey from doing a rental or two at a time for decades to closing nearly 500, going on 600 units as a syndicator. Michael is a syndicating investor and serial entrepreneur based in San Francisco, California. In this episode, we dig into topics like: getting started as a multifamily syndicator, the right way to raise syndication capital, connecting with a syndication mentor, and more!
Top Takeaways:
Breaking into multifamily syndication - 11:00 - 14:00
- The main thing standing between you and closing is knowing your stuff
- The more you understand about the process, the more comfortably and capably youโll execute
- While asking people for money may sound bad, most people with money want more
Raising syndication capital the smart way - 15:00 - 17:45
- It may seem like a scary sales job but really thatโs the wrong approach
- What youโre offering isnโt a product, itโs an opportunity to make someone more money
- The best angle is asking if they know anyone who would be interested, instead of direct
Finding a mentor in the syndication world - 18:30 - 24:00
- Once you know the industry, you have the knowledge to tell whoโs really operating effectively
- At this point itโs time to start growing your network and learning other peopleโs backgrounds
- The more introductions you can make and the more you can be part of, the faster youโll grow
Resources:
Book by Michael Hyatt: Free to Focus
Social Links:
https://www.facebook.com/mike.desrosiers.509/photos
mike@growcaptoday.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Ashley Wilson on her path from branching into real estate to diversify her retirement portfolio to using real estate to build the life she wanted. Ashley is a flipper, multifamily syndicator, and bestselling author from Pennsylvania. In this episode, we get into topics like: the smart way to work with contractors, picking an approach for multifamily, getting used to managing construction, and more!
Top Takeaways:
Working with contractors the right way - 16:00 - 18:00
- Contractors can give you two of speed, price, and quality - choose wisely
- As an investor, you have different goals than a retail client, so put more effort into communication
- Use positive incentives to ensure your goals are prioritized
Choosing a multifamily approach - 19:00 - 22:00
- โStackingโ or continuously doubling your scale can be done solo but often takes longer
- Large multifamily requires a comparably large team, but can run faster
- Fortunately, finding the right combination of skills is the key to sustained growth
Getting comfortable with managing a project with construction - 25:45 - 29:30
- Staying in tune with the market youโre developing in is the biggest key to keeping numbers straight
- Getting help from experienced developers can come either as partnership or consulting
- Even if you disagree on ARV, it can be invaluable to have an outside perspective on rehab cost
How to bring value to Ashley Wilson:
- Read her book and check out her website
Resources:
Book by Ashley Wilson: The Only Woman in the Room
Social Links:
biggerpockets.com/blog/contributors/ashleywilson-3
badashinvestor.com
@badashinvestor
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Flip Zweig on his journey from leaving his corporate sales job to completing over 1000 transactions. Flip is a flipper, wholesaler, and vacation renter based in Chandler, Arizona. In this episode, we dig into topics like: exiting your W2, learning flipping the smart way, building deal streams, and more!
Top Takeaways:
Creating an exit from your W2 - 11:15 - 13:00
- If you absolutely cannot stay in your job longer, find more income streams while you start investing
- This will give you the confidence to stick with real estate long enough for it to gain momentum
- Diversifying is also a great way to build your network and find opportunities
Getting a flipping education - 14:00 - 16:30
- Retiring investors can be great mentors if you can add value in return
- More experienced players have vast connections and wisdom you can learn from
- They also tend to be more giving of their time, but be sure to make it worth it
Developing long term, successful deal flow - 23:00 - 25:45
- One of the best ways to guarantee deals is to build relationships that drive referrals
- Once people know what youโre looking for, theyโll want to bring you deals
- The more you can benefit others, the more theyโll try to benefit you
How to bring value to Flip Zweig:
- Check out Instagram and get in touch
Social Links:
@flippin_az
facebook.com/philip.zweig
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Elliot Smith on his road from working over 100 hours a week between his day job and real estate to rapidly expanding his real estate portfolio while traveling the world. Elliot is a flipper, wholesaler, and real estate educator based in the Pacific Northwest. In this episode, we dig into topics like: starting strong in real estate, finding leads on your own, building a sturdy flipping operation, and more!
Top Takeaways:
Taking effective first steps in real estate - 9:00 - 10:45
- Your best bet for getting started is putting in the work to make sure you want it
- Use DealMachine or the Driving for Dollars app and get CallRail or Google Voice
- Get a couple thousand leads and start calling - and get used to it
Identifying leads while driving for dollars - 11:30 - 14:00
- Print out a map or use an app to go down every street in a neighborhood
- Things to look for: overgrown grass, broken windows (including wooden or metal), chipping paint
- A radio antenna on the roof is a subtle indicator the occupant may be ready to sell
Using flipping to create steady income - 36:45 - 37:30
- The key to sustainable flipping is picking a project type and sticking with it
- For example, entry level and step up homes are doable around $30-60k depending on market
- These can include kitchens, bathrooms, roof, windows, paint, carpet, and flooring
How to bring value to Elliot Smith:
- Check out his lead gen business and bring potential deals
Resources:
โThe Driving For Dollars App on the App Store
DealMachine | Real Estate Investor & Wholesaling Software
Google Voice
CallRail: Call Tracking & Marketing Analytics Software
Book by John Scott-Waring: The Book on Estimating Rehab Costs
Social Links:
biggerpockets.com/users/elsmith739
@elsmith739
callmagicleads.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Jay Helms on his path from his first buy and hold investment to investing in over 320 units of various types and educating others along the way. Jay is an investor and educator based in Gulf Breeze, Florida. In this episode, we get into topics like: when to leave your W2, making smart investments during coronavirus, building a network in real estate, and more!
Top Takeaways:
Finding the right time to leave your W2 - 12:30 - 16:30
- If youโre waiting for a sign, youโre ready to go already
- Once you know what numbers you need to support yourself without it, hit them and go
- There will never be a โright timeโ for you to transition, and there is no single solution
Best investment approaches during coronavirus - 28:15 - 34:00
- You have to acknowledge the reality that the market is shifting
- As the economic effects start to take hold, the time to buy will come
- Donโt be tempted to shift your criteria just to force a bad deal through
Building your real estate network - 35:00 - 39:30
- Every time you consume content, you have the chance to spread what youโre working on
- Social media is an invaluable tool for making connections that wouldโve been impossible otherwise
- Staying engaged gets your name out and makes people more comfortable working with you
How to bring value to Jay Helms:
- Check out his mastermind
Resources:
Book by Hal Elrod: The Miracle Morning
Book by Brian P. Moran: The 12 Week Year
7levelsdeep.com
Social Links:
biggerpockets.com/users/jayhelms
w2capitalist.com/mastermind
w2capitalist.com
@w2capitalist
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Stefanie Marshall on her road from her first flip as a rookie to completing more than 160 flips and new builds. Stefanie is a highly experienced flipper and developer from Chico, California. In this episode, we break down topics like: taking off in real estate flipping, getting your numbers straight, contractor best practices, and more!
Top Takeaways:
Starting off in flipping - 10:45 - 12:00
- The first priority should be to build a team you can trust - you canโt do this alone
- Other flippers are a fantastic resource in booming markets
- Networking events are high ROI for making connections and growing your resources
Nailing down flipping finances - 13:00 - 14:30
- With a quick walkthrough or peek into a property you can list everything that needs work
- Line out every item and get quotes for each one based on the property until you can do it yourself
- The less experience you have, the bigger a buffer you should give yourself for โotherโ
Best practices for working with contractors - 17:00 - 18:15
- The actual contract you sign is an excellent indicator of the quality of your contractor
- Every step of the process should be laid out and enumerated - no ambiguity necessary
- This holds both parties to account for what was agreed - payment when the work is done
How to bring value to Stefanie Marshall:
- Check out her upcoming She-Builds project
Resources:
propertyradar.com
Social Links:
biggerpockets.com/users/FlippingFamily1
facebook.com/stefanie.marshall.50
thekitegrp.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Ken Wimberly on his journey from running into real estate as a restaurateur to developing a successful brokerage and many investments. Ken is a Texas based business owner and entrepreneur, using multiple streams of income to achieve his financial freedom. In this episode, we dive into topics like: analyzing real estate risk, the best way to get educated, getting out of email, and more!
Top Takeaways:
Risk assessment in real estate - 13:15 - 15:40
- Knowing the actual worst case scenario can help you understand the real level of risk
- This also allows you to plan for that contingency and mitigate the risk
- It can also help to balance your risk tendency with a partner who opposes you
The best sources of education in real estate - 16:15 - 17:30
- Donโt listen to the people who havenโt done it
- Masterminds are a great place to find people who are actually doing the same things as you
- Regardless of what you want to learn, thereโs a group specific to that
How to escape email forever - 19:00 - 23:00
- As long as you create a workable system, it is entirely possible to not handle your email
- Finding the right VA and developing a working relationship are the keys to success
- This is one of the most effective ways that anyone can reclaim their time
How to bring value to Ken Wimberly:
- Check out Legacy of Love
Resources:
Book by Tim Ferriss: The 4-Hour Workweek
Book by Gary Keller: The ONE Thing
myoutdesk.com
legacyoflove.app
Social Links:
biggerpockets.com/users/KenW35
@ken.wimberly
facebook.com/lordwimberly
laundryluv.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Glenn and Amber Schworm on their path from their disastrous first rental together to doing more than 100 flips per year. Glenn and Amber, from upstate New York, are primarily flippers but have experience across the real estate board. In this episode, we dig into topics like: types of lenders, challenges for rookie and expert flippers, getting a running start, and more!
Top Takeaways:
Understanding lending: private money vs. hard money - 16:45 - 20:00
- Hard money comes from institutions - banks and other highly structured organizations
- The overall process is more about the property than the debtor and comes with more conditions
- Private money comes from individuals, which means the conditions are up to you and them
- Private money can come from contacts more often than dedicated groups
The biggest flipping challenges, new and experienced - 20:30 - 33:15
- The most common obstacle new flippers encounter is fear: of failure, of success, of embarrassment
- 80% of the challenge is keeping a success mindset, the rest is all the details
- Once youโre at large scale, the biggest fear becomes choosing your direction
Starting from scratch in real estate - 34:45 - 41:00
- The one thing you canโt succeed without is the hunger for success
- If you do your research youโll avoid a lot of heartache and loss
- Find a mentor with real experience in what you want to do
- Pick a niche and stick to it at the start - flipping is a great one as it covers most of the spectrum
How to bring value to Glenn & Amber Schworm:
- Check out their website and their workshop
Resources:
homeflippingworkshop.com
Social Links:
biggerpockets.com/blog/contributors/glennschworm
glennandamber.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Jacob Blackett for part two of his real estate expertise. Jacob is a syndicator and software developer based in Columbus, Ohio. In this episode, we break down topics like: maintaining deal flow, growing your network organically, systems for managing your business, and more!
Top Takeaways:
Tips for creating deal flow - 17:00 - 21:15
- Youโre most likely to find success in the marketing channels no one else is using
- Direct to owner is becoming more effective than it has been
- There are more ways than you might imagine to connect to an owner - donโt give up easily
Building relationships through business - 23:00 - 30:00
- Every deal you do is a potential connection that could become a partnership
- If youโre looking to build credibility, ask whoever you find if you can lend your skills
- If youโre a capable worker youโll be put where your skills are most effective
Managing a widely variable portfolio - 32:45 - 39:00
- While on one task in real estate is too difficult, there can be a seemingly overwhelming numberโ
- Good software keeps track of the quantity so you can focus on quality
- If your team isnโt benefitting, try making an investment in training or switching tools
How to bring value to Jacob Blackett:
- Check out his real estate software
Resources:
syndicationpro.com
propertyware.com
Social Links:
biggerpockets.com/users/jblackett
holdfolio.com
linkedin.com/in/jacobblackett
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Jacob Blackett on his journey from seeing a flipping infomercial in college to operating more than 1,200 units and creating a purpose-built tool for real estate syndication. Jacob is a syndicator and software developer based in Columbus, Ohio. In this episode, we dive into topics like: early flipping learnings, rookie wholesaling tips, multifamily vs. single family comparison, and more!
Top Takeaways:
Lessons learned in early flips - 18:30 - 20:00
- Doing things by yourself as a rookie is a recipe for missing easy mistakes
- Take an apprentice model and find a mentor to work under and guide you through
- A more experienced developer will have key insights from their experience
Wholesaling on a budget - 21:00 - 27:30
- In the right market, the cheapest houses can often be picked up for dirt cheap
- If you canโt afford fancy marketing, signs posted around town still work
- Low ball offers on the MLS are another source that works
- Every sale you make is another potential connection to a buyer and their network
The boons of multifamily over single family - 33:30 - 35:30
- The scale offered by multifamily vastly outpaces what can be achieved with single family
- Apartment buildings are large enough to employ all their own resources
- Banks are downright eager to lend on multifamily deals
How to bring value to Jacob Blackett:
- Check out his syndication software
Resources:
syndicationpro.com
Social Links:
biggerpockets.com/users/jblackett
holdfolio.com
linkedin.com/in/jacobblackett
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Curtis Eaton on his path from a dead end career path to having several deals either closed or under contract despite being new to the game. Curtis is a wholetailer with a full time W-2 based in North Carolina. In this episode, we get into topics like: getting a running start, making yourself the go to, sorting your deal execution, and more!
Top Takeaways:
How to take a running start to real estate - 9:00 - 11:00
- The BRRR strategy is a good place to start for maximizing value from a property
- It also offers tax benefits that canโt always be realized in other investment types
- Especially under tutelage, this is a great way to build your initial experience
How to make yourself the person to call - 16:45 - 17:45
- If you want to be the one people call when they need help, you have to get your name out
- Investor groups for your market, on Facebook or elsewhere, are brilliant tools
- Theyโre also a great way to start giving back to the community regardless of experience
Detective work to figure out which deals to take and what to do with them - 20:30 - 21:30
- A basic requirement is for the seller to be open to terms
- The likelihood of selling greatly increases if the seller doesnโt need an immediate cash out
- If a seller understands creative financing, their goals can nearly always be furthered
How to bring value to Curtis Eaton:
- Connect with him on Instagram
Resources:
zillow.com
realtor.com
propstream.com
xactware.com
Social Links:
@thecurtiseaton
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Jay Hinrichs on his road from getting his real estate license at 18 to growing a real estate empire across the country. Jay, based in Portland, Oregon, is a property expert who has worn as many hats as there are niches. In this episode, we break down topics like: how to start a real estate career, coronavirus opportunities, beginning investor mistakes, and more!
Top Takeaways:
Starting your real estate career from nothing - 31:00 - 35:00
- Never rely on a single income stream
- Use the wholesaling model to buy low and sell high
- If you buy at or close to the median house price in a market you start off safer
Growing markets amid a pandemic - 35:15 - 39:00
- Commercial and retail property is going to struggle at first
- This means small commercial will be a smart buy in the near future
- As the economy crunches homeowners, rescuing mortgages may pick up again
Biggest mistakes of beginner investors - 39:30 - 41:30
- Analysis paralysis is consistently one of the biggest things holding people back
- Focusing on the biggest possible return from day one isnโt likely to work
- Realize that a higher class investment is much safer in the long run
How to bring value to Jay Hinrichs:
- Check out his website
Social Links:
biggerpockets.com/users/JLH
jltcapitalpartners.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this special episode, Jonathan Farber reflects on the first 100 episodes of the Millennial Millionaire Real Estate Podcast. In this episode, we review topics like: reaching financial freedom, finding your support, getting educated efficiently, and more!
Top Takeaways:
Financially freedom is attainable within 5 years - 2:30 - 3:30
- Especially the type to listen to a real estate podcast
- Housing and transportation are the two largest items for the large majority
- Getting rid of them is most of the way there
Very few people can make it without help - 3:30 - 5:00
- The large majority of people need a coach or mentor or mastermind to push them through
- Failing alone is very demoralizing and leads to quitting in most people
- Knowing what type of person you are is more important than being one type or the other
Education doesnโt have to be expensive - 5:15 - 6:00
- The incredibly expensive programs and gurus can work, but theyโre not necessary
- The key to getting valuable education is by trading effort and value
- If you need to find ways to add value, listen to what someone says and list what they need
Resources:
Book by Joe Fairless: Best Real Estate Investing Advice Ever
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Jason Yarusi on his road from a simple desire to reclaim his time to managing over 800 units. Jason is a large multifamily syndicator based in New Jersey. In this episode, we get into topics like: scaling from small to large multifamily, difficulties from large multifamily deals, why to focus on select markets, and more!
Top Takeaways:
Transitioning from small to large multifamily - 10:30 - 13:00
- Bigger is not necessarily scarier
- The bigger the building, the smaller the problem one vacancy becomes
- As the property gets bigger, the scale of savings and efficiencies scales as well
The biggest challenges posed by large multifamily real estate - 13:30 - 17:15
- The biggest mistake that overwhelms investors is trying to take it all on at once
- The more specific you are in your deal search, the better your results will turn out
- If you limit your market to a few neighbourhoods, youโll quickly master that market
The benefits of specializing your team - 18:30 - 20:00
- If your team is already established, it can save you enormous headache in finding the right deals
- If youโre finding all your deals yourself, you likely donโt have the knowledge across several markets
- Even if a market fizzles out, youโve just proven a process and eliminated a zone from your search
Resources:
rentometer.com
milkeninstitute.org/reports/best-performing-cities-2020
Social Links:
biggerpockets.com/users/jasonyarusi
@jasonyarusi
yarusiholdings.com/website
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Tucker Merrihew on his path from becoming a mortgage loan officer out of college to building a business across flipping, wholesaling, and new construction. Tucker is a real estate multisector master based in Oregon. In this episode, we break down topics like: the importance of building lead flow, growing your real estate construction capabilities, getting started the right way, and more!
Top Takeaways:
Why you must establish a source of leads - 16:45:00 - 19:00
- The most crucial factor is to keep a flow of leads coming in
- Whether itโs the MLS, direct to seller marketing, auctions, etc, you need a source of deals
- Regardless of what you do with your leads you have to get them from somewhere
Building the construction side of a real estate business - 19:20 - 23:00
- A good place to start is ranch style home flipping - easy to execute, relatively small budgets
- As you increase in scale you can diversify into more expensive deals, including larger renos
- Eventually at maximum scale you can start building new construction
Starting a real estate career effectively - 25:00 - 28:00
- The first priority is to acquire the skill of finding properties
- Learn to find a property at a low price, clean it up, and sell at market price
- The knowledge from that process will set you up for anything else you want to do
How to bring value to Tucker Merrihew:
- Check out his podcast or mastermind
Resources:
โThe Driving For Dollars App on the App Store
roor.app
Social Links:
biggerpockets.com/users/TTMfinance
therealdealzpodcast.com
facebook.com/tucker.merrihew
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Ryan McKenna on his journey from discovering real estate through a friend in college to managing syndications across more than 10,000 units. Ryan is a highly experienced syndicator based in Chicago, Illinois. In this episode, we get into topics like: setting goals as a beginning investor, growing your library of knowledge, how syndicators structure deals, and more!
Top Takeaways:
Setting goals at the start of your real estate career - 12:00 - 16:20
- Short term and vacation rentals are a quality education and lucrative to boot
- Classic single family rentals are as basic as it gets, and mastering them will help you
- The things you learn along the way are the most valuable aspect at this level
Developing your skill set to reach your next objective - 17:45 - 19:00
- Any connections you already have are a great place to start
- Find someone to shadow in the field you want to work in
- The best learning comes from participation
Structuring a deal as a syndicator - 33:30 - 40:00
- Your first deal is likely your hardest so give yourself every possible advantage
- Key principals will be crucial early on to make the deal lendable
- While syndicators often arenโt paid up front, the pay structure is often incentivized
How to bring value to Ryan McKenna:
- Connect with accredited investors
Resources:
Book by Robert Kiyosaki: Rich Dad Poor Dad
Social Links:
biggerpockets.com/users/McKennaCapital
mckennacapital.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber shares some of the insights heโs gained about weekly planning. In this episode, we dig into topics like: setting your goals, creating a weekly review, and more!
Top Takeaways:
Setting goals - 3:00 - 4:45
- Setting your goals for different time horizons is an important starting point
- Once you have goals laid out you have something to aim for
- Reviewing these frequently makes sure they align with what you want
Designing your weekly review - 6:00 - 13:30
- Start establishing key performance indicators (KPIs) that mark progress towards your goals
- Make sure you cover major topics like finances, communications, meetings, and upcoming tasks
- Itโs important to make sure your metrics are realistic for the timeline theyโre planned on
- Double check that your goals are also aligned with what you want
Resources:
notion.so
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Al Williamson on his journey from starting a househack as a newlywed to operating 28 units as monthly rentals. Al is a rental investor specializing in furnished housing, based in Sacramento, California. In this episode, we get into topics like: finding your unfair advantage, why furnished housing, keeping a steady stream of demand, and more!
Top Takeaways:
Giving yourself your best shot - 14:00 - 18:00
- When starting out you might as well give yourself a head start
- Invest in markets where you have connections that you can rely on
- The more people you can benefit with your investments the more goodwill you generate
The benefits of furnished housing - 21:00 - 26:30
- The net income is highest in monthly furnished rentals, compared to any other type
- Monthly renting has the most stable demand of any real estate
- The presence of major monthly renter chains in your market can confirm the demand
Sourcing monthly renters - 33:30 - 38:00
- Use as wide a variety of platforms as you can
- Google is such a natural starting point that itโs often overlooked as a source of traffic
- Airbnb is a good safety net for higher risk, higher reward marketing strategies
How to bring value to Al Williamson:
- Check out his Youtube channel
Social Links:
biggerpockets.com/users/alewilliamson
leading-landlord-university.teachable.com/p/extended-stays-for-landlords
Al Williamson on Youtube
leadinglandlord.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Justin Stamper on his path from buying his foreclosed house back from its auction buyers to hosting a real estate flipping show on TV. Justin is a flipper with a broad spectrum of talents based in Orlando, Florida. In this episode, we break down topics like: using wholesaling to get started, finding the team that works, using the right people in your rehab, and more!
Top Takeaways:
Making money off little with wholesaling - 15:40 - 17:00
- One type of wholesaling involves buying at auction then immediately selling to another buyer
- Another type is connecting a seller directly to a buyer while putting the deal under contract
- The basic idea is how nearly all retail business are run
Identifying the team to root your business in - 21:50 - 31:45
- Technology is one of the greatest enablers of finding talent
- Platforms like Thumbtack hold both parties accountable to their work and service
- The scammers and slackers have a much harder time getting quality reviews
Using the right people for the job - 33:00 - 39:00
- Eventually you do gain the experience to know the true cost of your properties
- The daily cost and income numbers will let you make the most efficient decisions
- The scope of the task should match the skill of the contractor
How to bring value to Justin Stamper:
- Check out his Instagram or website
Resources:
thumbtack.com
Zombie House Flipping on A&E
Social Links:
biggerpockets.com/users/Stamper
@fliporlando
justinstamper.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Jeremy Jones on his road from discovering househacking while working at Microsoft to operating over 95 units jointly with his brother. Jeremy is a buy and hold investor utilizing real estate to create his preferred lifestyle in Seattle, Washington. In this episode, we dive into topics like: structuring partnerships when looking for money, building momentum in real estate, utilizing owner financing, and more!
Top Takeaways:
Structuring a deal between a manager and a financer - 19:00 - 24:30
- The priority is the right match - you canโt predict every possibility
- Look at it the other way - what would make your deal worth it to an investor
- A popular approach is to always repay whoever has money sunk first
- Once all initial contributors are repaid, the proceeds split 50/50
Building momentum from your first deal - 25:00 - 30:30
- A key step is to set goals in order to have a target
- This lets you reframe all your decisions in terms of whether you get closer to your goals
- Establishing tiers of progress is an easy way to break an idea down into smaller goals
Taking advantage of owner financing - 32:15 - 34:45
- Set up an MLS search tailored to trigger when owner financing is available
- Stale listings with long ownership are ripe for alternative financing - approach them
- Traditional financing is a good template, then adjust it for the situation
How to bring value to Jeremy Jones:
- Visit his website
Social Links:
www.jeremyjonesmusic.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Michele and Bruce Fischer on their journey from fostering a longstanding passion for low income housing to using 12 units as a lifeline for people exiting homelessness. Michele and Bruce are affordable housing buy and hold investors based in Seattle, Washington. In this episode, we get into topics like: determining rents, roadmap to low income housing, structuring deals with family money, and more!
Top Takeaways:
How to determine rents - 15:00 - 17:00
- Focussing on a small area will give you a better intuition for what something would rent for
- Make it an activity to track all the current rental prices around your area
- These two strategies combined should give you a solid idea of what something could rent for
Understanding Section 8 housing - 20:00 - 22:40
- The Housing Choice Program enables low income earners to find housing
- The main benefit is that you have a reliable income stream from the housing authority
- The main downsides are tenants losing their vouchers and annual inspections
Structuring rental deals with family money - 31:00 - 32:45
- A conventional bank loan is a good place to start for private terms
- If it works for the bank and it fits both partiesโ needs, why not use it
- Itโs also not set in stone so donโt be afraid you canโt โrefinanceโ later
Social Links:
biggerpockets.com/users/fischem
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Chad Carson on his road from starting real estate to stay off the beaten career path to operating over 110 units with rock solid systems. Chad is a buy and hold investor based in Clemson, South Carolina, currently focused on growing his coaching and mentorship business. In this episode, we dive into topics like: balancing effort with planning, reaching your career endgame, why to self-manage, and more!
Top Takeaways:
Hustle vs. strategy - 10:00 - 13:30
- No matter what job you have, you have to make money to have something to save
- Especially early on, you need to be around to handle things and take opportunities
- Once you start making more money you can spend more money to save more time
Creating a system to achieve your financial freedom - 15:00 - 18:00
- Never being truly โpassiveโ is probably OK - could you stand to work 1 hour a day?
- The systems you put in place will automate the tasks that no one needs to spend time on
- The people you recruit will be the reason your business keeps running when youโre not there
The value in self management - 19:00 - 21:15
- Managing your own properties will give you respect for the work that goes into real estate
- At the same time, youโll be learning the value of all the work you may eventually hire out
- Donโt forget to pay yourself for managing, just like you would pay an outside manager
How to bring value to Chad Carson:
- Check out the website and podcast
Resources:
buildium.com
Book by Tim Ferriss: The 4-Hour Workweek
Book by Joseph R. Dominguez: Transforming Your Relationship With Money
asana.com
Social Links:
biggerpockets.com/blog/contributors/chadcarson
coachcarson.com
coachcarson.com/coach-carson-podcast
Coach Carson on Youtube
linkedin.com/in/coachcarson
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Scott Jennings on his journey from discovering STR through an over-garage apartment to running a portfolio of 13 properties. Scott is a short term rental (STR) operator, property manager, and host based in Chapel Hill, North Carolina. In this episode, we dive into topics like: the benefits of short term rentals, getting started in STR, analyzing short term rentals, and more!
Top Takeaways:
Benefits of STRs - 13:15 - 15:15
- Short term rental monthly income is nearly always higher than long term rental
- Short term renters tend to use less utilities and cause less property damage
- The opportunity to frequently maintain the property keeps it in excellent condition
Getting started in STR right now - 15:45 - 20:00
- Start learning right away: Youtube, inexpensive courses, experienced contacts
- Start collecting furniture, other equipment
- Find the right property - why should someone stay here
- What risks are you most averse to and how can you avoid them?
- Hire a photographer and put your information into Airbnb
Analyzing STR deals effectively - 20:30 - 25:00
- AirDNA is the premiere option but comes with premiere pricing
- For free, Airbnb can be used directly to find comparable properties
- Checking VRBO and Booking.com will show you how competitive the market is
- The platforms will also show the rates throughout the year for a better long term picture
How to bring value to Scott Jennings:
- Bring properties that need management or could benefit from STR
Resources:
bnbformula.com
airbnb.com
airdna.co
vrbo.com
booking.com
houfy.com
Social Links:
sojournint.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Andrew Cushman on his road from quitting his chemical engineering job to discovering house flipping to figuring out multifamily investing. Andrew is a flipper and multifamily investor based in southern California. In this episode, we break down topics like: switching to real estate full time, mentors and coaching in real estate, raising capital, and more!
Top Takeaways:
When to move to real estate full time - 9:30 - 12:00
- Keeping your job while learning real estate is an excellent safety net
- It can be exhaustingly difficult to do both but the result is worth it
- Once youโre at least replacing your income, find an exit
Finding real estate mentors - 12:30 - 17:00
- Especially when first beginning, a hired mentor isnโt a terrible idea
- Look for someone with great recommendations and reasonable pricing
- They will often provide intangible benefits and connections
- A mentor doesnโt have to be a paid transaction
Raising capital through a real estate career - 28:30 - 32:00
- The hardest money to raise will be in the beginning
- The longer your successful track record, the more investors you attract
- Early on, always be advertising your activity without asking for money
How to bring value to Andrew Cushman:
- Check out his mastermind
Resources:
vpacq.com
Social Links:
biggerpockets.com/users/AndrewC58
@vantagepointacquisitions
facebook.com/Vantage-Point-Acquisitions-120548979622180
Vantage Point Acquisitions on Youtube
linkedin.com/company/vantage-point-acquisitions
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Zeona McIntyre on her journey from discovering Airbnb while in school to building her financial freedom through short term rental. Zeona is an Airbnb and short term rental expert in Colorado. In this episode, we dig into topics like: real estate beginnings, choosing a market, improving your Airbnb analysis, and more!
Top Takeaways:
Getting started in real estate - 12:00 - 16:00
- Househacking is a great start if you already own your home
- You can utilize Airbnb for one bedroom if you live alone
- Try getting out of the house for a few days and renting it out
Selecting a market - 16:30 - 18:45
- Househacking relies on your own house, so make it somewhere you would live
- Somewhere outside the city center will be cheaper which means more margin
- Specifically for Airbnb, smaller units in city centers are more appealing
- Hospitals and universities attract a lot of traffic
Perfecting Airbnb investment analysis - 19:15 - 21:50
- Rentalizer by AirDNA is a great tool
- Many places have seasonal value swings to account for
- Facebook groups have other experienced renters
- Airbnb itself can show you pricing for comps near your property
How to bring value to Zeona McIntyre:
- Check out her website and connect on social media
Resources:
airdna.co
airdna.co/rentalizer-widget
guesty.com
Book by Hal Elrod: The Miracle Morning
Social Links:
biggerpockets.com/users/Zeona
zeonamcintyre.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Devan McClish on his journey from starting off under the guidance of a successful mentor to having experience in a vast array of real estate niches. Devan is a multitalented investor based in Nashville, Tennessee. In this episode, we get into topics like: getting into real estate small, managing your own properties, utilizing creative financing, and more!
Top Takeaways:
Starting real estate with hardly any resources - 10:30 - 12:45
- Find a developing neighborhood and look for run down, unattended houses
- Write asks by hand and send them out, much cheaper than paying for a mail campaign
- Networking events are your hub to connect with more experienced professionals
The draw of being a property manager - 15:00 - 17:20
- Property managers get paid first
- Property management is high margin, with few staff required
- It only requires a real estate license
Taking advantage of creative financing - 29:30 - 32:45
- Owner financing allows you to buy without a bank but also without all the cash on hand
- The seller becomes the bank and you repay them over time
- Without a W-2 job, traditional financing can have harsh terms or sometimes be unavailable
How to bring value to Devan McClish:
- Looking for properties to manage
- Looking for multifamily 5-25 units
Resources:
buildium.com
appfolio.com
happyhiller.com
Social Links:
biggerpockets.com/users/DevanM
https://www.facebook.com/people/Devan-Mcclish/1070899809
olympuspropertymanagement.com
devanolympus@gmail.com
615-418-3133
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Tiffany Alexy on her journey from househacking as a senior in college to owning her own brokerage while investing with a growing team. Tiffany is an investor and broker based in Raleigh, North Carolina. In this episode, we break down topics like: breaking into real estate, understanding househacking, finding the right broker, and more!
Top Takeaways:
Starting real estate through househacking - 9:00 - 10:15
- Financing for owner-occupants is much more accessible than for commercial (investment) loans
- Other programs and incentives can bring down the price even more
- Also provides a live-in education on managing real estate
Househacking explained - 12:30 - 13:45
- Various income sources can be used to access financing
- Anything more than a college part time job will usually qualify
- Rental income or even projected rental income can sometimes be used
- Limits vary locally but usually allow at least around 10 properties in one personโs name
Finding the broker for you - 14:30 - 15:50
- Networking is the most efficient way to make a wide variety of connections
- Local REIA events (even if online) are often a great place to find brokers
- Be wary of some brokers hunting for investors, as they donโt always have investment experience
How to bring value to Tiffany Alexy:
- Check out her ebook on Amazon
Resources:
Book by Tiffany Alexy: How to Invest in Real Estate Like a #HOMEGRL
Social Links:
biggerpockets.com/blog/contributors/tiffanyalexy
alexyrealtygroup.com
@tiffany.alexy
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Steven Huang on his path from his first investment at 17 to managing nearly 40 doors by 25 while attending dental school. Steven is a multifamily out of state investor from Vancouver, BC. In this episode, we get into topics like: understanding the real estate flow, finding off market deals, putting in the right amount of rehab, and more!
Top Takeaways:
The real estate process - 13:45 - 15:15
- Real estate isnโt magic
- First find a deal and bring it under contract
- Next comes financial due diligence, then physical due diligence, then legal due diligence
- Next is closing the property, then possibly renovating
- Finally rent the units and possibly refinance
Finding off market deals - 15:30 - 17:00
- In a buyerโs market, foreclosure lists are an easy place to start
- If your market is local, knocking on doors is immediate and effective
- Once youโve established some relationships, property managers are a great source
Not too much, not too little in a rehab - 17:30 - 22:45
- The bones of the building - foundation, structure, roof - are the priority
- Interiors are then the next highest value add - flooring, paint, kitchens
- In a kitchen: new cabinet doors, new countertops, a new faucet go a long way
How to bring value to Steven Huang:
- Visit his Instagram
Resources:
buildium.com
Social Links:
https://www.biggerpockets.com/users/stevenhhh
@stevenhuangre
steven@kirkaproperties.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Alexandria Breshears on her road from discovering hard money lending at a REIA meetup to seizing a unique opportunity and creating her own private lending business. Alex is a private money lender based in Virginia on a mission to educate real estate investors. In this episode, we dive into topics like: building a private lending business, hard money vs. private money, making use of private lending, and more!
Top Takeaways:
Starting off in private lending - 11:00 - 14:40
- Your first priority should be to decide what you want to lend on
- This will quickly narrow down the initially vast array of deals youโll be offered
- Next, find an attorney to guide you through your local usury laws
- Generate a barebones template for your mortgage agreement and promissory note
Understanding hard money vs. private money - 15:45 - 17:30
- Hard money is lent by a company and often comes from outside the company you sign with
- This creates much less flexible offerings with strict criteria
- Private money belongs to the lender, giving them much greater control over terms
- Private lenders can often accommodate the unusual circumstances of real estate
Utilizing private lending - 17:45 - 20:00
- Many private lenders will help new investors through the deal
- This will involve a deal with both equity and debt investment
- These deals help newbies learn the ropes with expert oversight and financial backing
How to bring value to Alex Breshears:
- Join the Private Lending Lessons Facebook group
Resources:
Book by John Scott-Waring: The Book on Estimating Rehab Costs
Social Links:
biggerpockets.com/users/AlexB474
infiniteroadinvestments.com
Private Lending Lessons Public Group
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Mark Perlberg on his journey from his first exposure to real estate as a teacher to developing a tax system to enable financial freedom. Mark is a tax strategist recent investor based in Charlotte, North Carolina. In this episode, we break down topics like: FAQs on real estate tax, the tax benefits of real estate, understanding 1031 exchanges, and more!
Top Takeaways:
Real estate tax FAQs - 8:00 - 11:00
- Create an entity for your properties or not?
- LLCs are the simplest and most effective entities for basic rental property holders
- With the right analysis, depreciating assets protect rental income from tax liability
Tax benefits of real estate - 11:15 - 21:00
- Depreciation reflects the wear on an asset
- Once the property is acquired, its value is realized over time
- This means that the expense writeoff is also realized over time
1031 exchanges explained - 20:45 - 30:30
- A 1031 exchange is used to avoid realizing the taxes from gains when an asset is sold
- It allows 180 days to replace the sold asset with a new asset of equal or greater value
- This will defer the tax from profits on the sale, which can be hefty
How to bring value to Mark Perlberg:
- Check out a webinar through his website
Resources:
How Depreciation Creates Millions in Tax Savings and Freed Capital for Real Estate Investors
biggerpockets.com/users/davefoster1031
Social Links:
biggerpockets.com/users/MarkP102
markperlbergcpa.com
Mark Perlberg, CPA on Youtube
mark@markperlbergcpa.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Eugene Trowbridge on his road from small time rental investor to managing syndications for more than 1000 investors to becoming a securities lawyer. Eugene is a real estate attorney with an extensive background as a syndicator, based in Orange County, California, but working across the country. In this episode, we dive into topics like: syndication law learning, regulation D, joint ventures, and more!
Top Takeaways:
Lessons from syndication law - 17:30 - 22:45
- Go to an attorney once you have a letter of intent - nonbinding commitment to transact
- Always include a second partner in the management entity
- What happens if something happens to you?
Understanding Regulation D - 23:45 - 31:45
- Regulation D is by far the most common way to raise money in private placement
- Regulation D is a carveout that exempts a deal from SEC approval
- Under Regulation D new investors primarily use their personal contacts and network
- Without advertising, some information can be divulged to raise investment enthusiasm
Understanding joint ventures - 32:00 - 34:00
- A joint venture is one way of bringing people together for real estate
- General partnerships are still syndications unless there are only active investors
- Limited partnerships are automatically syndications because of passive investors
How to bring value to Eugene Trowbridge:
- Visit Trowbridge Law Group
Resources:
trowbridgelawgroup.com/product/rookie-syndication-seminar
trowbridgelawgroup.com
Social Links:
ccim.com/education/faculty/eugene-trowbridge
Trowbridge Law Group on Youtube
gene@trowbridgelawgroup.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Omar Khan on his journey from a financial background with a real estate heritage to transacting over 1300 units. Omar is a multifamily investor and syndicator based in Ada, Oklahoma. In this episode, we discuss topics like: syndications as an early investor, building investor relationships, understanding key principals, and more!
Top Takeaways:
Syndications for the beginning investor - 11:00 - 13:15
- Your network prior to real estate is an excellent tool for finding capital in existing relationships
- Take advantages of the strengths you already have
- Use your first few deals to improve on your weakest areas
Building relationships to invest in real estate - 14:00 - 19:30
- Accept that your failure rate is going to be high from the start - donโt take it personally
- Look for partners that can bring what you donโt have, and that need what you do have
- It will feel more natural and youโll have better results if you just try to make connections
Understanding key principals - 21:20 - 34:00
- A key principal is someone who makes a deal lendable by guaranteeing the loan on your behalf
- KPs require trust and insight to make work
- Bringing a KP to a deal youโve found is much more likely to work than finding a KP for a deal
How to bring value to Omar Khan:
- Bring any questions or things you need help with, along with capital and deal opportunities
Social Links:
biggerpockets.com/users/OKhan
boardwalkwealth.com
info@boardwalkwealth.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Ryan Murdock on his journey from leaving his stable corporate W-2 job with a househack to killing it in real estate and achieving his financial freedom. Ryan is a multitalented real estate investor based in Hawaii whose key strategy is always adding value. In this episode, we delve into topics like: work life balance as an early investor, using leverage to grow your business, being a value-add person, and more!
Top Takeaways:
Managing your work against your life on the way up - 8:45 - 14:15
- If you want to get to that comfortable place at the end, it takes a lot of grind
- Especially when youโre handling everything on your own, everything is on you
- Once you move the basic everyday responsibilities to someone else, your time will open up
- You need a solid foundation to build on but good partners accelerate growth
Bringing leverage to your operation in the growth stage - 14:30 - 17:00
- For a small multifamily business, there may not be a lot of margin for new hires
- The first few deals are often pure grind, but there is good learning that comes with that
- As you get more efficient and your margin widens your systems can make room for hiring
- Staying engaged in your network will keep you open to help when it approaches
The benefits of having a value-add reputation - 18:00 - 22:40
- Any long shot opportunity might turn into your next best connection
- If you think you have a way to bring someone value, donโt hesitate to offer it
- The worst case scenario is they turn you down and you keep helping elsewhere
- More often than you might think, the value you add is compounded and returned
How to bring value to Ryan Murdock:
- $100k finderโs fee for warm, off-market mobile home park
Resources:
Book by Tim Ferriss: The 4-Hour Workweek
Book by Chris McChesney, Jim Huling, and Sean Covey: The 4 Disciplines of Execution
eosworldwide.com
Social Links:
biggerpockets.com/users/RyanM177
odcfund.com
@ryan.murdock21
bringbrandonadeal.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Douglas Larson on his path from learning about real estate from a cassette box set to shaping his dream lifestyle with real estate as his tool. Douglas is a west coast renaissance investor who teaches how to live the life you want as a real estate investor. In this episode, we dive into topics like: starting real estate creatively, building your real estate career, networking smart, and more!
Top Takeaways:
Creative ways to break into real estate - 10:20 - 20:00
- Find leads any way you can - the more leads, the more good leads
- Househacking is a good way to get started until you can afford the flip
- Lease options are a great way to start with limited financing
Building your real estate career - 24:30 - 29:00
- The best source of deals is the people you know
- It can be so much more effective over time to take what comes rather than specializing
- Having experience in many different types of real estate will open up many more opportunities
Building your network in the modern age - 29:30 - 33:00
- BiggerPockets Facebook, etc. are excellent resources to meet many people at once
- Meeting in person (when possible) is still fundamental to building relationships
- The more you peddle the value you can bring, the more value will find you
Social Links:
biggerpockets.com/users/LuckyLarson
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Engelo Rumora on his journey from learning real estate as a construction worker to running a comprehensive real estate solutions business. Engelo is a flipper, wholesaler, and turn key provider based in Toledo, Ohio. In this episode, we break down topics like: breaking through your first deal, starting investing the best way, getting your real estate education, and more!
Top Takeaways:
Jumping into your first deal - 11:30 - 15:00
- Having a passion for what youโre doing is a sign that youโre on the right track
- Spend the time youโre saving to start real estate on learning the industry
- Once you have enough saved to jump in, youโve probably done enough research
- Realize that you will always have more to learn and failures will teach you the most
Choosing a starting investment strategy - 15:30 - 20:20
- Having an initial investment is crucial - your money canโt work for you if you donโt have any
- $50-100k is a good place to start in the US market
- Build your real estate team from the start to cover all your bases and minimize your mistakes
- Once everything is ready, start monitoring your chosen market and wait for the right deal
Is a mentor right for you? - 20:45 - 23:30
- There are vast troves of information available, for free, online
- While there are likely bad sources out there, these are easily avoidable
- The reputable names you already know are putting out tons of educational content
- If you build the right relationship, it likely wonโt cost you money - youโll be adding value
How to bring value to Engelo Rumora:
- Check out his book and Youtube channel
Resources:
Book by Engelo Rumora: The Raw Truth to Success in Real Estate
Social Links:
biggerpockets.com/blog/contributors/engelorumora
Engelo Rumora - Real Estate Dingo
engelorumora.com
ohiocashflow.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Yonah Weiss on his road from leaving teaching to pursue his passion for real estate to finding his niche in tax strategy. Yonah is a tax strategist specializing in cost segregation working in New York. In this episode, we get into topics like: understanding cost segregation, the cost segregation secrecy mystery, supercharging your business with social media, and more!
Top Takeaways:
What is cost segregation - 10:30 - 13:20
- Cost segregation is an income tax deduction
- The deduction takes the form of an advanced type of depreciation
- Depreciation is a tax deduction the IRS applies simply for owning the property
- Cost segregation is the most correct way to apply depreciation
- This is because different aspects of the property depreciate at differing rates
Why cost segregation isnโt more common - 16:00 - 18:00
- Most people just struggle to understand the concept or shy away from the unknown
- There are very few scenarios where cost segregation doesnโt provide a benefit
- Some simple math can determine the benefit that would be returned
Why social media can be the superpower for your business - 20:30 - 23:20
- Creating content on a regular basis builds commitment into your business
- Content you create adds value for your audience
- Engaging in othersโ content creates value for them
- Relationships are the foundation for growing your business and social media helps build them
How to bring value to Yonah Weiss:
- Implement cost segregation where you can
- Engage on LinkedIn
Resources:
Cost Segregation Quote Scheduling
Social Links:
biggerpockets.com/users/YonahW18
yonahweiss.com
linkedin.com/in/cost-segregation-yonah-weiss
yonahweiss.com/podcast
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Kaaren Hall on her journey from becoming a Realtor to various real estate niches to managing over $500 million with her firm. Kaaren is a specialist in self-directed IRA and 401k helping clients reallocate their investments outside the standard retirement or savings accounts. In this episode, we dive into topics like: IRAs, 401kโs, overall investment strategy, and more!
Top Takeaways:
IRAs made easy - 9:45 - 11:45
- An Individual Retirement Account lets you save for later
- Think of it as a bucket to hold money for the future
- Benefits of IRAs are that the money set aside usually gets some type of tax break
- A self-directed IRA is one type that can include assets outside the stock market
- Can include real estate, precious metals, act as a bank, etc.
Understanding 401kโs - 12:00 - 13:45
- A traditional IRA can be moved into a 401k - a Roth IRA cannot
- A 401k can be a powerful tool in the right circumstances
- In some cases the contributions that can be made to a 401k greatly exceed an IRA
Getting your strategy right - 16:15 - 18:00
- If a 401k is available to invest with, use it - doubly so if it offers matching
- Never leave money on the table if possible
- After transitioning to real estate full time, the 401k can be rolled into an IRA for your business
How to bring value to Kaaren Hall:
- Get educated on your financial future at uDirectIRA.com
Resources:
IRS Publication 598
quickbooks.intuit.com
Social Links:
biggerpockets.com/users/kaaren
udirectira.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Tyler Austin on his journey from stepping out of work for the government to managing more than $200k per month in deals. Tyler is a wholesaler and marketing expert based in Fort Walton, Florida. In this episode, we dive into topics like: wholesaling explained, learning from experience, hyper-efficient marketing, and more!
Top Takeaways:
Understanding wholesaling - 9:00 - 11:45
- Wholesaling is like any retail business - something is bought at a discount and resold
- The extra work that comes with wholesaling is in the finding of the seller to the buyer
- Wholesaling is all about finding solutions, particularly for sellers
Takeaways from your first deal - 25:30 - 28:30
- Direct mail didnโt work in that market - change strategies
- If you need to free up time, hire out the repetitive tasks
- Invest in getting better, cleaner data - if you canโt do it yourself then pay for it
Getting the most out of your marketing - 29:30 - 32:00
- The more targeted your marketing, the farther your dollars will go
- Filtering the data you obtain for the best leads gets you quality targets
- Services exist to handle this for you if youโd rather spend money than time
How to bring value to Tyler Austin:
- Check out REISift and connect on Instagram
Resources:
Tyler Austin on Youtube
Social Links:
reisift.io
@tyleraustinoriginal
Sales & Marketing Ninja Tip's for Real Estate Agents & Investors by REISift
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Christine Teh on her road from her corporate finance job to her own business educating people on saving and making more money. Christine is a financial and personal business coach based in Las Vegas, Nevada. In this episode, we break down topics like: ejecting from your W-2, getting a business off the ground, personal finance fallacies, and more!
Top Takeaways:
Designing your W-2 exit ramp - 9:00 - 12:50
- If youโre in a job with good pay and benefits use that as a launchpad
- The stability of that job will give you confidence to take personal risks
- If your company is large enough, move to a department you like more
- Get as much experience in your desired industry as you can before leaving
- Utilize online groups to optimize your game plan before you leave
Developing your new business from the ground up - 19:00 - 24:20
- Make sure your business works on paper - should be profitable within about a year
- Find your happy money number and let go of trying to push up endlessly
- Utilize your most popular local business resource - Yelp, LinkedIn, Facebook, etc.
- Engage on social media, especially in a service- or relationship-based business
Biggest personal finance mistakes - 24:30 - 27:00
- The most prevalent problem is a lack of understanding your expenses - โwhere did my money goโ
- Take a literal accounting of everything you spend on
- Food is the biggest hidden money sink
- Many people have subscriptions that they either donโt use or donโt know about
How to bring value to Christine Teh:
- Check out her LinkedIn course
Resources:
Nest Thermostat
ecobee Thermostat
Billion Dollar Bully
Social Links:
tehfinancialcoaching.com
linkedin.com/in/tehfinancialcoaching
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Bob Lachance on his road from chancing his way through his first successful flip to creating a system that has powered over 700 transactions. Bob is a real estate investor, entrepreneur, mentor, and brand manager, who has mastered the use of virtual assistants to optimize a pipeline. In this episode, we break down topics like: finding a mentor, getting started using virtual assistants, hiring virtual assistants effectively, and more!
Top Takeaways:
Finding a mentor as a new investor- 15:00 - 17:00
- Find a real estate meetup and ask around
- Get the consensus on who is the best in your field of interest
- Go to that person and offer to help them in any way you possibly can
- After a while you will start to know enough to contribute skills and not just grunt work
Getting started with virtual assistants - 18:00 - 22:00
- Make sure you know what your real estate niche is in order to determine your tasks
- For wholesaling, the primary tasks are finding buyers and motivated sellers
- A VA can be assigned to develop your buyers list through Facebook, LinkedIn, etc.
- A VA can also be assigned to marketing tasks for finding motivated sellers
- Sites including FB Marketplace, Zillow, Craigslist, or government lists or tax liens
- Video walkthroughs can quickly communicate how to execute these tasks
Hiring virtual assistants the right way - 30:00 - 41:00
- Hiring yourself off Upwork or other platforms can be very time consuming
- Know going in what roles you need filled
- Within a role you should know exactly what responsibilities the assistant should have
- The more specific you are in the hiring process the more effective your VAs will be
- If you do decide to hire on your own, do a systems check to ensure backup connection access
- The benefit of a VA agency is that they do all the heavy lifting for you
- They will often connect you with exactly the right VA for your needs
How to bring value to Bob Lachance:
- Send questions to the Friday Coffee Break Podcast
- Leave a review
Resources:
mojosells.com
launchcontrol.us
realeflow.com/real-estate-crm
podio.com
glip.com
Book by Atul Gawande: The Checklist Manifesto
lastpass.com
Social Links:
biggerpockets.com/blog/contributors/boblachance
revaglobal.com
bob@revaglobal.com
askfcb.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
In this episode, Jonathan Farber interviews Antoine Campbell on his journey from hiring his first virtual assistant to help with cold calling to running his entire business as a virtual enterprise. Antoine is a flipper, wholesaler, and buy and hold investor leveraging virtual assistants to run his business entirely virtually. In this episode, we dig into topics like: getting started with VAs, deciding how to delegate, implementing virtual leverage, and more!
Top Takeaways:
How to get started with virtual assistants - 10:10 - 11:10
- Map out all the processes of the business to get a full picture of the operation
- Separate tasks into high- and low-level operations
- This process will demonstrate what you arenโt making the best use of your time with
- Being busy isnโt necessarily being productive
What to delegate - 11:15 - 12:10
- Reflect on what youโre good at and what youโre not
- Youโre not likely to get great at something annoying at this point in your life
- For those menial tasks that drain your work ethic, delegate them out
- For the tasks that get you excited to keep working, double down
Implementing your virtual leverage - 12:15 - 14:45
- Important to match employees with the needs of the business, like any other
- Consistent accessibility is important and not guaranteed
- Philippines is a good option for US employers, but do your own research
- Create a schedule to fill with employees as needed
How to bring value to Antoine Campbell:
- Visit V1 Marketing and Training on Facebook
Resources:
upwork.com
onlinejobs.ph
monday.com
podio.com
mojosells.com
calltools.com
ezskiptracing.com
calendly.com
Social Links:
vamasterysystem.com
facebook.com/V1Agency
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Josh Eitingon on his journey from building his first syndication while working a W2 to managing a few hundred units under syndication. Josh is an out of state multifamily syndicator based in Long Island, New York. In this episode, we dig into topics like: breaking into large multifamily, how to succeed in the multifamily space, principles of deal analysis, and more!
Top Takeaways:
Stepping into your first large deal - 9:00 - 14:30
- Your network is one of your best resources for finding deals
- As your network grows into new markets your exposure to deals will increase
- Look for a deal in a diverse market and with solid numbers to hedge your bets
- A property manager or other experienced partner can provide vital insight on a deal
- Donโt be afraid to ask for second and third opinions on the numbers
- Any lessons you take away will improve your chances of success down the line
Tips for succeeding in multifamily - 14:45 - 16:45
- Market will determine your return and therefore your ability to afford quality management
- The relationships you build in your market will make or break your long term profitability
- Getting to know all the major players will create opportunities in the future and build goodwill
Principles of syndicated deals - 18:00 - 26:30
- Cash on cash yield is more reliable than cap rate with solid budget
- Stable deals are better starting out, around 8-9% return
- Cap rates are still useful for clean, comparable deals
How to bring value to Josh Eitingon:
- Connect with investment opportunities or new markets
Social Links:
biggerpockets.com/users/JoshE1
dxeproperties.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Daniel Weisfield on his journey from his first venture into mobile home parks out of a corporate job to operating 30 parks in five states only three years later. Daniel is a mobile home park syndicator based in Oakland, California. In this episode, we dig into topics like: the benefits of mobile home parks, learning how to invest in mobile homes, getting started in mobile home investing, and more!
Top Takeaways:
What makes mobile home parks the ideal investment - 9:00 - 12:00
- As one of the most affordable housing types, they will always have occupants
- Because tenants own their own homes, they are more deeply invested in their housing
- Tenancy trends higher than in apartments
- They also fill the need for affordable housing
How to learn the process of mobile home investing- 23:45 - 25:30
- The best way to get started is doing a deal
- This doesnโt even have to be in mobile homes, any property will teach you
- Youโll learn everything you need to know in the process
- Youโll also learn whether or not real estate investing is right for you
Getting started investing in mobile homes - 25:45 - 28:00
- Once you have some initial experience, look for mobile home parks
- LoopNet and Mobile Home Park Store are good resources
- The deals youโll find there will likely be smaller but a better fit
- Early in your journey youโll have more time and effort to spend
- These deals also often have slightly higher returns
How to bring value to Daniel Weisfield:
- Mobile home park deals
- Investors with the buy and hold forever philosophy
Resources:
loopnet.com
mobilehomeparkstore.com
Social Links:
threepillarcommunities.com
info@threepillarcommunities.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Jeff Greenberg on his path from syndicating his first 20 unit commercial deal to now operating over 1000 units. Jeff is a multifamily, student housing, senior housing, and self storage multistate syndicator operating from Camarillo, California. In this episode, we get into topics like: raising cash with little experience, syndications vs. joint ventures, determining your markets to search, and more!
Top Takeaways:
Raising $350,000 with no experience - 10:30 - 14:30
- Your established professional network can be a great resource if you express your passion
- Real estate meetups can be a surprisingly lucrative source of investors
- BiggerPockets is another excellent source for networking and connecting in real estate
- Showing your excitement and enthusiasm for a deal is infectious and generates interest
- Letting investors make their own choice instead of asking directly is often effective
Comparing syndication and joint ventures - 14:45 - 16:45
- A joint venture is designed to provide mutual control of the assets to the participants
- A syndication is designed to combine management from one party and money from the others
- Your business model should reflect the activities of the participants
Choosing markets based on your business model - 20:00 - 23:00
- On the scale of large multifamily assets, looking at the nationwide market can be more efficient
- A broker, for example, can find deals faster looking at many markets as opposed to one
- Learning specific markets more thoroughly can be more effective in the long run
- Each deal will often be more profitable due to familiarity with the market
How to bring value to Jeff Greenberg:
- Connections to HNWIs
- Copywriter for blogging and teaching
Resources:
Book by Chet Holmes: The Ultimate Sales Machine
loopnet.com
crexi.com
Social Links:
biggerpockets.com/users/JeffnCal
synergeticig.com
jeff@synergeticig.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Chase Craddock on his road from his first deal with only $2500 to transitioning into multifamily for consistent cash flow. Chase is a Louisville, Kentucky wholesaler with around 40 deals done in the first 16 months. In this episode, we dig into topics like: why wholesaling, how to get started, automating your wholesaling process, and more!
Top Takeaways:
Benefits of wholesaling - 10:45 - 11:30
- Wholesaling can be accessible because it scales with your budget
- You can be the source of the leads and the work
- Driving for dollars, cold calling, and following leads can all be done by one person
Getting started as a wholesaler - 11:45 - 14:00
- Get the DealMachine app to create a list through driving for dollars
- Upload the DealMachine list to a skiptracing site
- Use XenCALL as a dialer
Transitioning to automated wholesaling - 16:45 - 19:00
- One of the first tasks to automate is cold calling, through a combination of dialers and assistants
- Finding someone to manage your lists frees up a lot of time to talk to motivated sellers
- If giving up control makes you uncomfortable, feel free to stay involved
- Itโs often safer to test the process ready to step in rather than letting go to watch what happens
How to bring value to Chase Craddock:
- Bring prospective investors, passive and active, for multifamily deals
Resources:
dealmachine.com
xencall.com
callfire.com
Social Links:
@thechasecraddock
facebook.com/chase.waltoncraddock
calendly.com/adventchase
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Jason Bott on his unique insight gained on the path to insuring several hundred clients nationwide through his firm. Jason is an insurance specialist based in Milwaukee, Wisconsin. In this episode, we break down topics like: the biggest misunderstanding, getting started with insurance, types of policies, and more!
Top Takeaways:
The number one real estate insurance misunderstanding - 7:00 - 8:30
- Commercial policies are much more flexible than homeownersโ
- This means a lot more risk is carried than in a traditional home policy
- This is why itโs important to understand the language of your policy
Getting started with real estate insurance - 8:45 - 11:30
- Lending under your personal name is usually easier to accomplish than under an entity
- Single family claims exceeding $1 million are exceedingly rare
- This gives rise to the standard commercial liability of $1 million
- After 8 to 10 units, personal lending usually maxes out
- After this point it generally gets easier to incorporate and get commercial policies
- Umbrella policies tend to be more efficient for scaled operations than individual
Understanding types of policies - 13:00 - 20:00
- General liability - protects for personal injury or the property from property damage
- These general policies go by many names so if youโre not sure ask
- The basic needs are property coverage and general liability coverage
- Umbrella policy - extends a general liability policy to the necessary risk profile
How to bring value to Jason Bott:
- Potential investor clients with out of state properties
Social Links:
biggerpockets.com/blog/contributors/jasonbott
robertsonryan.com/about-us/our-team/agents/jason-bott
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Bill Allen on his road from first dabbling in buy and hold rentals to finding his stride in high volume flipping. Bill is a Nashville, Tennessee based flipper and wholesaler turning nearly 200 deals a year with his team. In this episode, we get into topics like: breaking your barrier to real estate, how to scale to the size you want, growing your real estate business, and more!
Top Takeaways:
Pushing past failure and finding your feet - 13:15 - 17:00
- Even after what may seem like an astronomical loss, success is still out there
- All your sweat and effort is for naught if you give up
- Keep perspective pm your long term goals, not just your first step
- Donโt let your failures define your future
Scaling to the size of your goals - 30:00 - 36:00
- Identify your goal and your why - mindset is crucial
- Your goals can evolve along the way, but you have to set them first
- Establishing your core values will help you make hiring decisions
- Estimate the value of your time by your total income and the total time you worked
- Identify what youโre spending your time on and write it all down
- Anything that is worth less than your time should be outsourced
Growing your real estate business - 54:00 - 1:00:30
- Flipping requires deals and money
- Wholesaling requires leads and buyers
- The easiest start is with one marketing channel
- Establish a six month marketing budget
- Once youโve perfected the first channel, add another one
- At a minimum, track how much money you make for each dollar you spend
How to bring value to Bill Allen:
- Introductions to smarter people
- More investment
- Ways to expand impact
- Speaking opportunities
Resources:
Book by Michael S. Hyatt: Free to Focus
7figureflipping.com
Social Links:
biggerpockets.com/users/gte939h
blackjackre.com
@billallenrei
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Beth and CJ Moss on their journey from their first parent-cosigned duplex to wholesaling more than 40 deals a year. Beth and CJ are real estate investors and problem solvers based in Boston, Massachusetts. In this episode, we break down topics like: failing forward, grinding for deals, finding deals step by step, and more!
Top Takeaways:
The fail forward mindset - 12:45 - 15:15
- As long as you keep making progress, youโll keep getting closer to your goal
- The only thing that can keep you from succeeding is quitting
- The more failures you have the more you learn
- The more you learn the better you perform in the future
All about finding deals - 24:00 - 26:45
- Anything you can mention when approaching an owner to make it feel more familiar helps
- Thereโs no need to be fearful when talking to prospects
- The worst outcome puts you back where you already are
- Once you have a few tries under your belt it gets easier
Getting started finding deals - 27:00 - 30:30
- Get DealMachine
- Find 20 driving for dollars leads per day, 5 days a week
- Export your list and skip trace it
- Cold call or door knock your list
How to bring value to Beth & CJ Moss:
- Cold callers, admin work
- Anything youโre good at, offer it up
Resources:
wholesalinginc.com
dealmachine.com
batchskiptracing.com
openlettermarketing.com
callrail.com
podio.com
Book by Ryan Holiday: The Obstacle Is the Way
Book by Scott Alexander: Rhinoceros Success
Social Links:
@mosshomesolutions
CJ Moss cell #: 508-844-8884
mosshomesolutions.com
biggerpockets.com/users/cmoss02
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Tyler Jensen on his journey from his first flips with his father to flipping 40 houses a year working four days a week. Tyler is a flipper operating in Salt Lake City, Utah. In this episode, we break down topics like taking your first steps into real estate, structuring a private money flip, balancing planning and execution, and more!
Top Takeaways:
Getting your feet wet in real estate - 16:10 - 22:45
- Handwritten letters to a notice of default are cheap but take time
- Helping someone whoโs stuck under an impending foreclosure can be a lifesaver
- Meetups including REIAs can connect you with hard money lenders
- The earlier you start networking the bigger a network you can build
Structuring a private money flip - 25:30 - 29:50
- An investor provides the initial money for the purchase price of the house
- The same investor or a different one provides the money for the rehab
- Once the rehab is done and the house is sold, the interest is paid for the time the money was out
- The profit is then split between the investor and the manager
Balancing planning and execution - 32:15 - 36:00
- Do your baseline research to learn the industry and the market youโre in
- A mentor can guide you to the right time for action and save you a lot along the way
- Be willing to fail and know that it will teach you how to succeed the next time
How to bring value to Tyler Jensen:
- Visit 7 Figure Flipping
- Watch the TV show
- Deal opportunities
Resources:
7figureflipping.com
4 Flips in 7 Days
fliphackinglive.com/virtual2020
Book by Simon Sinek: Start With Why
Social Links:
facebook.com/Utahhouseflip
utahhouseflip.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Antoine Martel on his path from his first flip on a hard budget of $40,000 to controlling $15 million in multifamily assets and doing 100 flips a year. Antoine is a multifamily and turnkey flipper from Los Angeles. In this episode, we dive into topics like real estate growth strategies, why to start with turnkey real estate, scaling into new markets, and more!
Top Takeaways:
Antoineโs main strategies for growth - 9:00 - 10:15
- Primary strategy with a small portfolio is BRRRR - 1 to 10 houses
- Buy, Rehab, Rent, Refinance, Repeat
- The primary strategy for outside investors is turnkey investments
- Turnkey delivers a property already up and running as an investment to a client
- Rehab a fixer-upper, rent it, install a property manager, and sell
Why is turnkey a great place to start - 10:45 - 15:00
- New investors often overestimate their ability to add value from a distance
- Anyone with relatively small capital will fare better in a turnkey property
- Everything is already set up for you and can get a feel for the process without the extra effort
Scaling up and choosing markets - 15:30 - 18:00
- A healthy market has a population of at least 200,000
- Job growth and diversity is also key to insulate against sudden downturns
- Various government and private financial sites can provide the necessary data
How to bring value to Antoine Martel:
- Visit resources and share social media
Resources:
Book by Antoine Martel: A Millennial's Guide to Investing in Cash Flowing Rental Properties
investor-list.com
mailchimp.com
zoho.com/crm
Investing Infographic
A Millennialโs Guide to Real Estate Investing Podcast
brrrrmentor.com
Social Links:
biggerpockets.com/users/AntoineMartel
martelturnkey.com
@martelantoine
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Leanna Haakons in a unique episode that focuses on newcomers to the real estate market. Leanna is a sales and marketing entrepreneur helping businesses connect to all types of investors. In this episode, we dig into topics like building a portfolio, determining your best investment, finding the best mortgage, and more!
Top Takeaways:
Building a portfolio of investments - 9:20 - 20:20
- The best place to start is with any free money from your employer
- Your investment classes should align with your goals
- The time and energy you have to put into your investments will determine your return
- The stock market returns an average of 7-8% year over year with inflation but is very hands-off
- Real estate can provide a much higher return but will nearly always require more work
- Many real estate strategies can be systematized over time to reduce the workload
Investing for appreciation or cash flow - 22:00 - 32:00
- House hacking - buy the building, live in one unit, and rent out the rest
- Cash flow markets are great for this - midwest states with stable property values
- Young investors nearly always want cash flow in order to replace their income
- Appreciation is most useful for building wealth and increasing net worth
- Airbnb/vacation rental works well in more expensive vacation markets
- A โsecond homeโ can be bought at 10% down and part of the year
Finding the best mortgage for you - 50:55 - 1:05:30
- Especially as a first-time buyer, a mortgage broker can be a huge benefit
- The huge diversity of lenders and mortgage products necessitates some hand-holding
- For a more experienced investor, local lenders are the way to go
- Calling multiple different banks will give you as many different options
Resources:
fullfocusplanner.com
Book by Leanna Haakons: Young, Fun & Financially Free
Book by David M. Greene: LongโDistance Real Estate Investing
Neal Bawa on MMTR
airdna.co
Airbnb Automated
Social Links:
@leanna_hawk
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Rachel Richards on her journey from buying her first duplex 3 years ago to retiring at 27 to live off of $15k of passive income per month. Rachel is a bestselling author and small multifamily investor in Denver, Colorado. In this episode, we get into topics like: getting through the first deal, finding deals as a new investor, managing property remotely, and more!
Top Takeaways:
How to get that first deal done - 7:45 - 10:30
- It is doable to get your operation off the ground while working full time
- The hustle is worth the result
- If youโre passionate about real estate, use your extra time to grow better yourself
- Donโt settle for something that doesnโt meet your needs
Finding deals with little experience - 14:00 - 18:00
- If you want the benefit of the MLS, get a real estate license
- The MLS isnโt the only route but it is possible to find good deals as an investor there
- A real estate license also lets you cash in by representing the buyer
- Probate leads, if approached with empathy, can also be effective
How to effectively manage property from a distance - 23:45 - 32:00
- Ponying up for a quality property management company is well worth it
- The headaches saved and disasters avoided will keep you at ease
- Remember to always build property management fees into expenses
- Even if self-managing, this will prevent worry later if things change
- Use a screening questionnaire to make sure applicants meet your requirements
- Schedule multiple showings at once to avoid the waste of cancellations
How to bring value to Rachel Richards:
- Reviews on Amazon
- Podcast connections
Resources:
Book by Rachel Richards: Money Honey
Book by Rachel Richards: Passive Income, Aggressive Retirement
cozy.co
Book by Chandler Bol: Published
bulletjournal.com
Book by Steven Pressfield: The War of Art
moneyhoneyrachel.com/bonus
Social Links:
moneyhoneyrachel.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Justin Silverio on his journey from finding his fit in flipping to running a highly efficient real estate and construction business. Justin is a flipper, wholesaler, and builder in Boston. In this episode, we dive into topics like working with contractors, knowing when to leave your W-2, jumping into direct to seller, and more!
Top Takeaways:
Top tips for working with contractors - 15:15 - 16:30
- A referral is the best way to find talent
- When forging a new relationship, walk through their current projects with them
- Get a feel for their style and professionalism before agreeing to anything
- Make another visit a few weeks later to see how things have progressed
How to know when to jump ship - 21:00 - 22:30
- Never burn bridges; your network can come from anywhere
- Remember that as an employee you still want to leave with a good impression
- Have integrity in everything you do and know when you canโt meet a commitment
- Make sure you have deal flow before switching to real estate full time
Getting started with direct to seller transacting - 28:00 - 34:00
- Donโt be afraid to spend money to make money
- You likely wonโt find a deal on your first or second try - stick with it
- Especially if youโre new to real estate, be prepared to learn about deal structure
- Everyone has to earn their own experience
- Spend at least six months consistently to build momentum
How to bring value to Justin Silverio:
- Software development, UX experience
Resources:
openlettermarketing.com/olm-investorhub
openlettermarketing.com/olm-dealflow
listsource.com
www.activecampaign.com
www.callrail.com
www.slybroadcast.com
Social Links:
biggerpockets.com/users/jls944
@thebostoninvestor
openlettermarketing.com
js2homes.com
justin@openlettermarketing.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Travis Watts on his road from turning his stock market cashout into his first home to having partnered in over 30 syndications to date. Travis is a single-family, multifamily, and vacation rental passive investor spreading the benefits of the real estate world. In this episode, we break down topics like making use of the current market, finding the right syndication, starting off right as a syndicator, and more!
Top Takeaways:
How to make the best use of this unique time - 10:30 - 14:20
- Keep in mind that you need capital to start investing passively
- Getting some active experience under your belt is motivating and illustrative
- Build equity when you have the chance
- Play to your strengths and do what youโre best at
How to find the right syndication - 20:00 - 22:50
- If you cover all your bases you can invest in syndication and keep your peace of mind
- Make sure the syndicator has a good record and has goals that align with yours
- Vet the market to make sure that this area at this time is good to invest in
- Investigate the deal and run your own numbers to make sure everything adds up
How to hit the ground running as a syndicator - 27:30 - 30:30
- Books are a cheap, highly concentrated form of information
- Coaching and mentors are also an option but much more expensive
- Starting off as a Limited Partner gives you experience and lets you gain something from it
How to bring value to Travis Watts:
- Investing experience from other groups or operators
Resources:
Book by Robert Kiyosaki: Rich Dad's Prophecy
Social Links:
biggerpockets.com/users/TravisWatts
@passiveinvestortips
ashcroftcapital.com/connectwithtravis
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Zach Hoereth on his road from his first single-family purchase to acquiring over 35 units in only four years. Zach is a broker and real estate investor based in Indianapolis, Indiana. In this episode, we get into topics like taking the plunge, pairing brokering with investing, networking effectively, and more!
Top Takeaways:
How to get out of your head and get started - 23:00 - 29:30
- You have to accept that some things will only be learned by experience
- Itโs good to have an ambitious goal, but donโt let it hold you back
- Smaller 1-4 unit deals can be great stepping stones into bigger multifamily opportunities
Why a brokerage goes well with investing - 37:15 - 41:00
- As clients develop in the brokerage, trust is built with the broker
- As single-family buyers mature as investors, they become prepared for multifamily investing
- Having the relationships developed already gives you your pick of partners
How to connect with the right people while bringing value - 42:00 - 47:00
- Show that you value the personโs time
- Bring as much as possible to offer and you will get more in return
- Even for just a short chat, find out if thereโs anything you can provide in exchange
- Keep in mind that you should be building relationships, not trawling for info
How to bring value to Zach Hoereth:
- Bring deals that may work in your market
Resources:
zoho.com
Book by Eckhart Tolle: The Power of Now
Social Links:
biggerpockets.com/users/zachh38
zachhoereth.com
@zach.hoereth
linkedin.com/in/zach-hoereth-874896104
zach@zachhoereth.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Jonna Weber on her road from diving into real estate at the bottom of the recession to developing a strategy for buy and hold investing that has held for more than a decade. Jonna is a broker and investor that specializes in working with out-of-state investors and buyers in Boise, Idaho. In this episode, we talk through topics like growing your properties, finding the right deals, self-managing, and more!
Top Takeaways:
How to grow beyond your first few deals - 14:30 - 18:00
- If you are committed to being your own boss, go all in
- If you have any property that isnโt working, dump it
- Turn that loss into a gain by getting some thoroughly vetted deals
- Sometimes it takes a professional to come in and get things done
How to find deals that work for you - 20:00 - 23:50
- Putting more down isnโt necessarily a bad thing
- If something goes wrong, having some equity going in can be a s safety net
- The financial fundamentals stay the same no matter what the market is currently doing
How to get a handle on managing your own properties - 32:45 - 36:00
- Plenty of excellent books for building systems
- The tenant screening and application process is crucial
- Deciding on your rental requirements will fix most of your issues before they start
How to bring value to Jonna Weber:
- Come prepared, with a specific question that canโt be answered elsewhere
Resources:
Book by Mike Butler: Landlording on Autopilot
Book by Brandon Turner: The Book on Managing Rental Properties
Book by the McKissacks: Hold: How to Find, Buy, and Rent Houses for Wealth
Book by Gary Keller: Shift: How Top Real Estate Agents Tackle Tough Times
firepoint.net
Social Links:
biggerpockets.com/users/vandalfan
jonnaweber.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Willie Mandrell on his road from househacking his first building through an FHA loan to holding over $10 million across more than 40 units. Willie is a multifamily investor based in Boston. In this episode, we dig into topics like: weathering your first deal, quantifying your financial freedom, ways to raise capital, and more!
Top Takeaways:
Having the confidence for your first deal - 11:40 - 13:30
- Your first deal wonโt end in catastrophe as long as you have the right mindset
- Even if the market crashes shortly after you buy, you get the chance to learn lessons right
- Consider the first property your education
- Youโll need those skills as the market starts to climb again and opportunity arises
Defining and achieving your financial freedom - 13:40 - 18:45
- Once youโve got your toe in the water, start finding a strategy that works for you
- Once you hit a roadblock, reflect on your goals for the future and build a list
- Add up the list and you have your desired passive cash flow per year
- Break that down to what you need per month
- Based on your market and strategy, figure out how many buildings or units you need
- That number is your goal, but donโt forget padding for the unexpected
The two ways to raise capital - 28:45 - 00:00
- Debt - you get the money in exchange for a promissory note - a promise to repay
- Once the property is stable, the lender is repaid and the only payment is to the bank
- Equity - you get the money in exchange for a portion of the property
- The portion of equity is determined by the ROI and capital provided
- ROI is the combination of the appreciation, debt paydown, and cash flow
How to bring value to Willie Mandrell:
- Come with a respect for time
- Be persistent but polite
- Offer your existing skills before asking for help
Resources:
The Five Minute Journal
Quicken Rental Property Manager
mandrellco.com/coaching
Social Links:
biggerpockets.com/users/wmandrell
facebook.com/WillieMandrell
linkedin.com/in/wjmandrell/
@wjmandrell on Instagram
mandrellco.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
In this episode, Jonathan Farber interviews David Allen on his 35-year journey from dissatisfied job-hopping to a well-renowned productivity expert whose principles are applied worldwide. David is a thought leader on productivity and personal management coach based in Amsterdam. In this episode, we break down topics like identifying your projects, prioritizing your list, moving towards completion, and more!
Top Takeaways:
Keeping track of all your โprojectsโ - 17:30 - 20:15
- No matter what you call it, a project is something you want to realize in the world
- Once youโve defined a project, identify what you can do to get closer to completing it
- Find where you can place a reminder for the next thing that needs to get done
- Donโt use your head as your office - itโs probably not organized enough
How to prioritize your projects - 20:30 - 21:30
- Put first what would make the biggest difference to you
- The more space you can free up from the beginning, the more you will have for everything else
- While it may take some reflection, figuring this out will reduce stress and anxiety the fastest
How to identify the next step towards completion - 20:45 - 24:45
- Rather than worrying about completion, think of it as moving the needle
- If you donโt address the next thing to do, it will keep coming to you when you donโt need it
- Any neglected task will take more of your attention than it deserves
- Whatever keeps coming to your attention is probably the next thing you should address
How to bring value to David Allen:
- GTD success stories and testimonials
Resources:
Book by David Allen: Getting Things Done: The Art of Stress-Free Productivity
gettingthingsdone.com/tttt
Social Links:
gettingthingsdone.com
@dallen45
@gtdguy
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Seth Ferguson on his journey from aspiring NHL referee to major multifamily real estate syndicator. Seth is a real estate communicator and investor in Ontario, Canada, currently with around $50 million in assets under syndication. In this episode, we break down topics like the professional real estate mindset, getting ready for multifamily investing, partnership agreements, and more!
Top Takeaways:
Getting into the professional real estate mindset - 13:00 - 16:00
- Investing with capital growth in mind allows rapid scaling
- Deep familiarity with your market will give you an edge over competitors
- Refinancing properties that are doing well lets you keep your money out of your next deal
How to prepare yourself for your first multifamily deal - 16:15 - 19:40
- Even without established property or cash flow, it can still be pulled off
- Networking with people in that space can be invaluable
- Bringing value, either in the form of capital or deals, will help build trust
- Once you have a few deals under your belt your credibility and independence will increase
Why every partnership needs an agreement - 25:15 - 29:00
- The worst-case scenarios that no one wants to discuss are the most important to prepare for
- Talking to a lawyer will give you an idea of what you can expect in a given situation
- Having an agreement helps resolve any potential conflicts before they become a problem
- If you need to, get a neutral third party to play devilโs advocate
How to bring value to Seth Ferguson:
- Bring capital from you or your coworkers, friends
Resources:
meetup.com/Canadian-Real-Estate-Investors-Meetup
bombbomb.com
podcasts.apple.com/us/podcast/purchase-to-profits-real-estate-investing-podcast
Book by Michael Gerber: The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It
Social Links:
biggerpockets.com/users/SethFerguson
youtube.com/channel/UCtFJbKpP0PKd1YT0PF_WNnQ
sethferguson.org
callseth.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Gino Barbaro on his journey from self-funding his first 25 door building to reaching more than 1000 units and starting to syndicate deals. Gino is a buy and hold, multifamily, value add investor in Jacksonville, Florida. In this episode, we dig into topics like understanding real estate, handling your first deal, finding the right partner, and more!
Top Takeaways:
The three pillars of real estate - 16:15 - 20:20
- Understand the market cycle - are you in a buyerโs or sellerโs market
- Know your exit strategy - how are you going to leave the property
- Buy right, manage right, and finance right
- Buying under parameters that work for you keeps you from making bad deals
- Managing right adds value operationally
Getting through your first deal - 26:00 - 30:15
- There may be issues but if you get through them youโll learn more for the next one
- Think of how you can add value for your tenants as well as yourself
- Youโll likely have a chance to amend any minor mistakes in the future
How to find the right business partner - 30:30 - 35:00
- Look for someone whose personality matches your values
- Make sure your long term goals match to avoid conflict
- If you canโt get along, your business will suffer
How to bring value to Gino Barbaro:
- Read The Go-Giver
- Ask what you can help with
Resources:
Book by T. Harv Eker: Secrets of the Millionaire Mind
Book by Bob Burg: The Go-Giver
Social Links:
biggerpockets.com/blog/contributors/ginobarbaro
jakeandgino.com/gino/
gino@jakeandgino.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
Apply to be a guest on the podcast here: https://forms.gle/YNmALHUvDvuMWVVFA
In this episode, Jonathan Farber interviews Slocomb Reed on his path from house hacking his first quadplex to holding over 40 units either himself or in partnerships. Slocomb is a Realtor and buys and hold investor based in Cincinnati, Ohio. In this episode, we dive into topics like building your real estate team, finding the path of progress, scaling your operation, and more!
Top Takeaways:
How to build your real estate team from the ground up - 14:30 - 18:15
- The best place to start is where the experienced investors are
- Platforms like BiggerPockets are perfect for connecting people specifically in real estate
- The people that can help you the most are likely very busy already
- If youโre asking for value, remember to bring value first
How to locate the path of progress - 30:30 - 34:30
- Find the people who are keeping track of your city
- Theyโve already done all the work to figure out which areas are growing
- The hottest areas are usually surrounded by the fastest growth
How to scale past your first couple deals - 35:15 - 44:00
- If you can identify what your strengths are, you can start to find partners who complement you
- A partnership that has strengths in many areas is much more powerful
- The more value you can add, the more value you can receive
How to bring value to Slocomb Reed:
- Attend virtual real estate meetup - Best Ever Cincy
- Buy and hold book club on Facebook
Resources:
podio.com
boomtownroi.com
bestevercincy.com
Buy and Hold Book Club
Social Links:
biggerpockets.com/users/slocomb
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Glenn McCrorey on his journey from Delta Airlines mechanic to holding nearly 70 properties in a portfolio started after 40. Glenn is a landlord to nonprofits providing for the disabled in Cedar Rapids, Iowa. In this episode, we unpack topics like making your money work for you, investing sustainably, working with nonprofits, and more!
Top Takeaways:
Putting your money to work - 11:30 - 25:00
- When you find a financial opportunity, take it and make your money work for you
- Saving for your first investment takes time but is a chance to educate yourself
- Once your investments start producing cash flow, use them to invest further
Building a sustainable investing model - 27:00 - 44:00
- If you can find a system that works well for your goals, stick with it
- Developing relationships and using your network can reveal incredible opportunities
- Niche markets allow you to tailor your strategy more closely to your goals
- The more firmly established those business relationships are, the more opportunity will arise
Why working with a nonprofit may be the best move - 51:00 - 55:00
- Nonprofits have a difficult time obtaining housing for their beneficiaries in the first place
- Once you have proven to be a reliable provider, youโll find many more opportunities
- Layers of protection can exist between you and the demands of renting to specialized tenants
- Much easier to manage than assisted living, where the landlord might be much more involved
How to bring value to Glenn McCrorey:
- Read Rich Dad Poor Dad before asking him for advice
Resources:
Book by Robert Kiyosaki: Rich Dad Poor Dad
homes.rently.com
buildium.com
Social Links:
biggerpockets.com/users/grmccror
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Neal Bawa on his journey from discovering the benefits of real estate investing to building a business holding over $265 million. Neal is a technologist turned real estate syndicator operating from the Bay Area, running over 2,000 units. In this episode, we break down topics like choosing a market, deciding when you know enough, getting boots on the ground, and more!
Top Takeaways:
How to choose your market - 16:15 - 24:45
- Donโt just base your decision on one personโs testimony
- Rely on tangible metrics to choose your market
- Population growth, income growth, home price growth, crime reduction, and job growth
How to know when you know enough - 34:00 - 38:30
- Once you know what metrics you need, it should only take 15 minutes to know
- If a property is a good investment, the numbers will make it clear
- If you canโt find the information, ask around the market
How to get boots on the ground - 39:10 - 43:30
- If you canโt go there yourself, get on Craigslist
- Draw out a route around the property
- Post a job to video the route
How to bring value to Neal Bawa:
- Just reach out with anything you can do to help
Resources:
multifamilyu.com
Book by Hal Elrod: The Miracle Morning
Social Links:
biggerpockets.com/users/NealB13
youtube.com/c/MultifamilyU
facebook.com/groups/MagicOfMultifamily
neal@multifamilyu.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Logan Freeman on his path from jumping into his first flip to syndicating large multifamily affordable housing projects. Logan is a Kansas City based syndicator who has moved into large scale commercial rehabs. In this episode, we dive into topics like: getting your first deal done, the benefits of commercial real estate, balancing research with execution, and more!
Top Takeaways:
How to break into your first deal - 14:30 - 18:40
- Having a little bit saved up is always a good place to start
- Get on BiggerPockets and tap into your local network
- Find the people that can guide you into a good deal
- Do your own vetting and get second and third opinions
The benefits of commercial over single family homes - 24:30 - 28:50
- Single family home appraisals are often based largely on comps
- When other people have control over your values, youโre in a more difficult spot
- Commercial real estate lends itself to creating a business to run it
How to balance research with execution - 29:15 - 38:00
- High self-awareness helps you know when youโre ready and where you need help
- Focusing your energy on the things that youโre good at will maximize your potential
- Finding someone experienced and trustworthy to work with will break your rut
How to bring value to Logan Freeman:
- Come with an understanding of why
- Nonprofit experience
Resources:
Book by Joe Fairless: Best Ever Apartment Syndication Book
Book by Gary Keller: The Millionaire Real Estate Investor
Book by Tom Rath: StrengthsFinder 2.0
Book by Ken Coleman: One Question: Life-Changing Answers from Today's Leading Voices
Social Links:
biggerpockets.com/users/loganf8
linkedin.com/in/livefreeinvestments
livefreeinvestments.com/meet-logan
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Jesse Fragale on his path from his first house hack in college to crafting a nationwide portfolio across Canada. Jesse is a real estate agent and investor in Toronto utilizing social media to drive his business. In this episode, we delve into topics like investing in multifamily real estate, networking to boost your business, growing your network through content creation, and more!
Top Takeaways:
How to start investing in multifamily real estate - 26:00 - 33:45
- Determine your goals and your desired level of involvement
- Get boots on the ground and meet with property managers in the area for expertise
- Do the work to figure out the numbers and decide if it can work
How networking can boost your business - 41:00 - 46:45
- Putting yourself in an environment with like-minded people will create connections
- Your second and third connections can be an unexpected opportunity
- Reaching out to connections you havenโt heard from grows your network
How to use content creation to grow your network - 47:30 - 51:00
- The more people you let know about your business, the more opportunity will find you
- Putting yourself out there is the hardest part
- Put forward your unique angle and youโll attract more interest to yourself
How to bring value to Jesse Fragale:
- Share and engage with his content
Resources:
Jesse Fragale on YouTube
Book by Frank Gallinelli: What Every Real Estate Investor Needs to Know About Cash Flow
Social Links:
biggerpockets.com/blog/contributors/jessefragale
avisonyoung.com/professionals/-/ayp/view/jesse-fragale/in/toronto
twitter.com/jesse_fragale
Instagram: @jessefragale
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Amanda Han on her journey from a big tax firm to her own tax advising business that caters to tax strategy for real estate investing. Amanda is an Orange County-based real estate tax expert who uses entity structuring, self-directed investing, and income offset opportunities to help her clients build wealth faster. In this episode, we get into topics like investing considerations, getting smarter about investing, tax mistakes to avoid, and more!
Top Takeaways:
What to consider when entering an investment or partnership - 30:30 - 32:45
- What is your exit strategy; how or when are you going to leave the property?
- What is the worst-case scenario? What would you do if that happened?
- Who will be responsible for the various responsibilities?
How to get more knowledgeable about your investing - 33:00 - 36:00
- Early in your investing career is the best time to start planning
- Using a smart tax strategy from the start of your career can save a lot in the long run
- This also helps avoid common pitfalls and tax traps
Tax mistakes to avoid - 36:30 - 40:00
- Investors often miss out on deductions due to missing overhead expenses
- Containing your properties in an entity is not necessary to write off business expenses
- Prior to creating entities for your business, itโs a good idea to consult a CPA
How to bring value to Amanda Han:
- Creative real estate applications and best uses for new properties
Resources:
Book by Amanda Han: The Book on Tax Strategies for the Savvy Real Estate Investor
Book by Amanda Han: The Book on Advanced Tax Strategies
officetools.com
Social Links:
biggerpockets.com/blog/contributors/amandahan
https://www.keystonecpa.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Cory Binsfield on his path from his first triplex to achieving financial freedom through holding more than 100 units. Cory is a buy and holds BRRR specialist based in Duluth, Minnesota. In this episode, we get into topics like: staying eligible for financing, picking the right lender, avoiding analysis paralysis, and more!
Top Takeaways:
How to make sure you remain eligible for financing - 14:00 - 16:30
- The key to continuing expanding is to keep properties cash flowing
- As long as you can keep a debt coverage ratio above 1.25 youโre in good shape
- Good debt coverage keeps you in the good graces of the banks
How to pick the right lender - 20:00 - 29:00
- The larger banks tend to be more rigid in their requirements
- Search out banks that specifically work with real estate investors
- Smaller or regional banks tend to be more open to flexible loan terms
- Small banks also know their area more and care about your investment
How to avoid analysis paralysis - 29:30 - 36:50
- While research is important, there are still actions you can take in the meantime
- Driving for dollars, contacting brokers, getting preapproved can all be done before your first deal
- If you need to run the numbers again to be sure of yourself, do it
How to bring value to Cory Binsfield:
- Lender or broker with conventional loans below 4%
Resources:
Book by John Schaub: Building Wealth One House at a Time: Making it Big on Little Deals
appfolio.com
CRM for financial advisors: wealthbox.com
Social Links:
biggerpockets.com/blog/contributors/corybinsfield
ten2million.com
structuredwealthadvisors.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews William Barnard on his road from persisting to his first deal cofinanced by his parents to flipping seven figure properties in Los Angeles. Will is a high-end luxury flipper now moving into construction. In this episode, we jump into topics like: out-of-state investing pitfalls, building a team, investing remotely, starting off in flipping, and more!
Top Takeaways:
Mistakes to avoid when investing out-of-state - 14:30 - 18:40
- Make a realistic appraisal of operating costs
- Decide your real estate strategy before starting to make transactions
- If youโre looking for income, go for cash flow
- If youโre looking to build wealth and capital, go for appreciation
How to build a team and start investing remotely - 19:00 - 24:30
- Everything starts with education - get to your market
- As you do research you will come across the people that can help you
- Remember to try to add value everywhere you go
- Find the most time-effective investments for you
Getting started in flipping - 25:00 - 31:00
- Having a way to raise capital is critical - it gives you the confidence to take action
- Knowing your market is critical - it lets you make smart decisions
- Knowing construction costs is critical - the time to complete and the cost of the work
- Repetition of calculating each part of a cost makes you better
How to bring value to William Barnard:
- Bringing deals, capital, connections, having something to offer
Resources:
basecamp.com
buildertrend.com
quickbooks.intuit.com
Social Links:
biggerpockets.com/users/barnardinc
info@phscontractors.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews David Krulac on his journey from buying his first property at auction to a major real estate investor. David has nearly 1000 transactions under his belt and has made 8 figures over the course of his career. In this episode, we get into topics like: finding real estate at auction, finding reliable contractors, understanding auctions, and more!
Top Takeaways:
How to find real estate at an auction - 21:10 - 24:40
- If possible, see the property before bidding
- Gas heat is the preferred option
- Take a contractor with you to evaluate the condition if you can
- A house that has exterior issues is likely to have interior issues
How to pick reliable contractors with little experience - 34:30 - 41:20
- Contractors that have a place of business and branded materials are usually more reputable
- Detailing the exact work to be done ahead of time will give an idea of the contractorโs knowledge
- Paying in advance is rarely necessary; buying materials yourself is a good way to build trust
- Getting referrals from your good contractors is a good way to find new ones
- Relying on Realtors or other dependent contractors to review work brings more experience and perspective
Understanding types of auctions - 45:30 - 54:45
- Sheriff sale: a mortgage foreclosure, also known as a trustee sale, owned by the lender; must outbid the bank to get the property
- Tax sale: real estate taxes werenโt paid, varies widely by state; learn rules/process in your market
- Many options available based on the liens on the property
How to bring value to David Krulac:
- Find people to connect with to spread knowledge and lessons further
Resources:
Book by David Krulac: How I Started with Nothing and Made 12 Million in Real Estate Part-Time
Social Links:
biggerpockets.com/users/imade12million
david@centrelpennlots.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Robert Bergeron on his road from leaving an unfulfilling job in sales to developing a thriving real estate community around his area. Rob is a Louisville, Kentucky based Realtor who specializes in finding off-market deals and working with out-of-state investors to buy cash-flowing assets. In this episode, we break down topics like investing out-of-state, maximizing renovation value, adding value, and more!
Top Takeaways:
How to start investing out-of-state - 27:45 - 36:30
- Evaluate industry in the market youโre looking at
- Figure out what type of construction is happening; if itโs not on new land, expect appreciation
- Figure out if youโre looking for cash flow or equity, and match the market to your asset type
How to renovate to maximize ARV - 36:45 - 38:45
- Remote investing and renovation books have detailed descriptions of the best improvements
- The goal is to get the property to the point that it wonโt have to be updated for several years
- Go for the simplest acceptable option
How to stay in front of mind while adding value - 54:45 - 1:00:30
- Providing direct value without asking any in return builds goodwill
- Meeting directly with clients makes them feel valued
- Directly making friends and business partners feel valued is invaluable
How to bring value to Rob Bergeron:
- Unique or specialized trades in real estate for Zoom Calls
Resources:
Out of State Investing in Louisville, KY ZoomCall
Book by Peter Kyne: The Go-Getter: A Story That Tells You How To Be One
Social Links:
biggerpockets.com/users/robertb89
rob@roilouisville.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Ben Kogut on his path from not knowing what to do out of college to raising capital for commercial syndications on a monthly basis. Ben is a real estate syndicator currently handling over 225 million dollars in property from Austin, Texas. In this episode, we get into topics like adding value to syndication, getting started as a syndicator, raising capital, and more!
Top Takeaways:
How to add value to a syndication - 30:00 - 32:30
- Connecting to people with wealth that theyโre looking to invest
- Find deals that meet some basic criteria and can become sales
- Go to syndicators and ask what they need
How to get started as a syndicator - 32:40 - 35:45
- The network is crucial to putting together the parts of a syndication
- Being involved in your community brings opportunities to you
- Maintaining good character builds trust
How to raise capital - 36:00 - 40:00
- Established relationships let you know where to focus your energy
- Investors have feelings too
- Build a list of people who would be a good fit to invest and talk with them directly
How to bring value to Ben Kogut:
- Directing investors looking for alternative investments
Resources:
duolingo.com
Social Links:
linkedin.com/in/benkogut
instagram.com/benkogut
hjhinvestments.com
kogutcommercial.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Gary Hadida on his journey from becoming a 10 thousand dollar shoe entrepreneur at 14 to operating seven properties as Airbnb vacation rentals by 21. Gary is a real estate agent and an Airbnb arbitrage investor in Florida. In this episode, we unpack topics like prospecting for short term rentals, furnishing, decorating, and more!
Top Takeaways:
Finding prospects in a vacation market - 27:20 - 32:20
- Use resources to find properties that have been on the market for a while
- The longer itโs been on the market, the easier it will be to get for an Airbnb
- Build rapport with agents or owners before bringing up Airbnb
How to furnish an empty rental - 36:00 - 39:00
- Make a realistic budget for furniture and other amenities that the unit needs
- Use wholesalers, Goodwill, garage sales to find decorations at a discount
- Partially or pre-furnished units can generate cash flow faster
How to decorate for an Airbnb - 41:20 - 42:30
- Use the MLS or rental sites to get an idea for decorations
- Always use professional photography
- The booking mostly comes from the photos so those are crucial
How to bring value to Gary Hadida:
- Accounting skills, money management, bookkeeping
Resources:
airbnb.com
vrbo.com
Social Links:
Gary Hadida on Facebook
Gary Hadida on Instagram
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Seth Williams on his road from his first foray into land investing to building a full-time income with part-time hours through land investing. Seth is a Michigan based land investor with experience applicable to buy and hold as well as multifamily investors. In this episode, we get into topics like: leaving a W-2, the benefits of seller financing, developing a land process, and more!
Top Takeaways:
How to transition from a W-2 to real estate investing - 13:45 - 18:10
- Keep trying different strategies until you find one that works for you
- Once you find a strategy you like, figure out how to optimize it
- Many strategies have a straightforward way to transition to cash flow
- For land investing, this platform is seller financing
The value found in seller financing - 19:30 - 22:00
- Seller financing works well for land investing out of necessity
- Most banks will not finance land without strict requirements
- Learn your local laws and requirements to make sure you do it right
Land investing process - 22:30 - 36:45
- Remember that land is hard to value because it doesnโt have cost, income, or comps
- Once a price is agreed on, start with a purchase agreement
- Do a title search, either yourself or through a title company
- Depending on the size of the deal, you can vary how to close it
- If the deal is small enough and the seller trusts you, close it yourself
- If the deal has enough margin, do it right and hire a title company to close
- If the deal is in between, consider a mobile notary
- Once you have the property, list it for cash or financing with prices according to what you want
How to bring value to Seth Williams:
- Writers and editors that are familiar with real estate investing terms
Resources:
landflippinglifecycle.com
landspeedtech.com
Social Links:
retipster.com
biggerpockets.com/blog/contributors/sethwilliams
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Mike Simmons on his journey from blue-collar, to white-collar, to flipping, to wholesaling more than one hundred properties per year. Mike is based in Michigan, focusing on wholesales and flips. In this episode, we break down topics like calculating ARV, calculating reno costs, building relationships with contractors, and more!
Top Takeaways:
How to calculate your ARV - 25:45 - 32:20
- The best ARV is from the MLS
- Will only get an accurate ARV based on renovated, updated houses
- Connect with a Realtor that knows your area
- Combine data from many sources: Zillow, Redfin, Trulia
How to estimate your renovation costs- 32:30 - 41:00
- Focus on learning what things cost and how long they should take
- Bring contractors with you to the property and get quotes
- Bring your own numbers to the table as well to set expectations
- Find a base cost per square foot that applies to your area
- The primary method of learning costs is repetition
- Often doing something yourself has a higher net cost than giving it to the contractor
- If contractors are bidding, request an itemization of the quote to get more information
How to build relationships with contractors - 41:15 - 47:45
- Donโt bring the same contractor to quote several different jobs and then not give them anything
- Once you find a good, reliable contractor, ask them for references for other types of jobs
- Good contractors usually know other good contractors
- A Google Form with the screening questions you want to ask saves time
How to bring value to Mike Simmons:
- Review the podcast
- Go buy his book
- Show that you see value as much as you want value
Resources:
Podcast by Mike Simmons: mikesimmons.com/juststartrealestate
Book by Mike Simmons: Level Jumping
Social Links:
biggerpockets.com/users/mikesimmons
mike@juststartrealestate.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule 1 on 1 time: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Russell Brazil on his path from a full-time job in the healthcare industry to a full-time real estate investor. Russell is a thought leader in the real estate investing space, utilizing BiggerPockets and other platforms to grow his business. He currently has 13 units under self-management. In this episode, we dig into topics like taking advantage of opportunities, building a rental portfolio, deciding if you should self-manage, and more!
Top Takeaways:
How to capitalize on opportunity - 12:45 - 15:15
- Cash reserves are vital
- Being able to not just weather a storm but also take advantage of the situation
- Having good relationships with lenders gives you the chance to jump on opportunities
How to build a portfolio - 20:40 - 27:20
- Gentrification makes the most but has the most headaches
- Buying suburban can be easier to manage but the higher cost to enter
- Finding an area with a clear path of gentrification makes identifying a location easier
- Areas with interspersed areas are more challenging but still doable on the ground
- New college graduates, hip bars are signs of gentrifying neighborhoods
- New people moving into a neighborhood drives up demand, which drives up appreciation
- Buying where you take advantage of your experience
How to decide if you should self-manage - 27:50 - 34:00
- Self-managing is nearly always less expensive than professional management
- The amount of time spent is far less than many people think
- Having systems in place to deal with issues makes things even easier
- Paying slightly more for a reliable service, like a contractor or eviction company, can save money and stress in the long run
How to bring value to Russell Brazil:
- Taking advantage of technology to leverage more opportunity
Social Links:
www.biggerpockets.com/users/russelltee
www.longandfoster.com/RussellBrazil
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule 1 on 1 time: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Pancham Gupta on his journey from a full time W-2 employee to scaling a real estate business holding $32 million in property. Pancham is a multistate cash flow investor based in Long Island, New York. In this episode, we dive into topics like: having the right mindset, scaling into major investing, breaking through your mental barriers, and more!
Top Takeaways:
Keeping the right mindset - 18:15 - 22:30
- Especially if you know youโre more analytical, try to step back
- Evaluate if the deal is good or not and then take action - close, or move on
- If you need to, ask for a second or third opinion
- Let the numbers decide for you, and keep taking next steps
How to scale from local single family to multistate multifamily - 24:00 - 28:30
- Realize that the same basics steps still apply
- Share your activity with the people around you and youโll likely find ready investors
- Start to build a syndication with the resources at hand
- Getting out of state before starting into large properties builds broker relationships
How to get yourself past your mental barriers - 28:45 - 30:45
- Take time with yourself or any partners and reflect on where youโre being challenged
- Try to isolate specific areas that seem to be holding you back
- Once you know where any issues lie, hire a mentor or coach to get you past them
- The confidence alone that a more experienced advisor can instill is worth the small expense
How to bring value to Pancham Gupta:
- Bring deals and opportunities
Resources:
biggerpockets.com/forums/223/topics/790541-finally-quit-my-job-after-7-years-of-investing
Book by Robert Kiyosaki: Rich Dad's CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom
Social Links:
biggerpockets.com/users/panchamgupta
thegoldcollarinvestor.com/author/pancham-gupta
p@thegoldcollarinvestor.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind https://www.facebook.com/groups/860025821084224/
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule 1 on 1 time: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Sean Williams on his journey from dropping out of college to securing a major investment for his first BRRR on an apartment complex. Sean is a Louisville, KY, broker experienced in first time home buyers and sellers, all the way up to high-end properties and investors dealing in rentals, rehabs, and wholesale deals. In this episode, we break down topics like: building relationships in real estate, coronavirus market strategies, out of state investing, and more!
Top Takeaways:
How to build relationships and find investors - 24:10 - 33:00
- Anyone you meet doing business could be an investor, so get to know people
- Adding value by channeling deals builds goodwill
- Opportunities arise when there are mutual benefits to a partnership
- Show legitimate interest and be open to conversation
Strategy in the time of coronavirus - 35:30 - 38:15
- New opportunities can pop up anywhere, so having some capital available is useful
- Doubling down when everyone else is selling puts you in a strong position
- Stashing more away when refinancing creates a reserve for capital expenditures
How to invest out of state - 42:00 - 46:20
- Do your homework - learn the market youโre entering if you want to be taken seriously
- Having clear risk and criteria and investing goals makes things easier on a broker
- Having questions in mind shows a willingness to learn and improve
- Someone willing to visit the area looks much more serious about investing
How to bring value to Sean Williams:
- Investing directly helps expand the scope of projects Sean can accomplish
Resources:
www.tenantcloud.com
bombbomb.com
Social Links:
www.biggerpockets.com/users/seanwilliams
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule 1 on 1 time: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Mark Ainley on his path from househacking his first property at 21 to owning with partners over 900 residential units and 2 million commercial square feet. Mark runs a property management and brokerage firm based in Chicago. In this episode, we unpack topics like: deciding management, mistakes to avoid, scaling traps, and more!
Top Takeaways:
How to make management decisions for your first properties - 18:30 - 22:15
- Self manage if you can
- Only need external management if time or distance are too great
- Consider opportunity cost when deciding if you have the time
- Finding a property manager before buying will give you peace of mind
Mistakes to avoid when starting out - 22:30 - 26:30
- When self managing, donโt tell the tenant youโre the owner
- Use the distinction to your advantage and take the opportunity to ingratiate yourself
- Great responsiveness makes owners and tenants feel valued
Pitfalls to watch out for when scaling - 31:00 - 36:00
- Scaling without a process in place to keep things on track is a recipe for stagnation
- Anything repeatable, documentable, or easily doable by someone else can be turned into a system
- When mapping processes, find a tool that works for you
- While implementing systems, better to add capability incrementally than try to incorporate everything from the start
How to bring value to Mark Ainley:
- Bring marketing experience, connecting with property owners in the Chicago area
Resources:
Article by Mark Ainley: The No. 1 Reason Rental Owners Fire Property Managers (& How to Avoid It)
Work the System: The Simple Mechanics of Making More and Working Less by Sam Carpenter
The Road Less Stupid by Keith J. Cunningham
Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zelle
www.lucidchart.com
www.podio.com
Social Links:
BiggerPockets Profile:www.biggerpockets.com/blog/contributors/markainley
Company Website: https://www.gcrealtyinc.com
Straight Up Chicago Investor Podcast: https://www.straightupchicagoinvestor.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule 1 on 1 time: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode, Jonathan Farber interviews Ben Leybovich on his road from finding his first flip while driving for dollars to running a multi-state operation of over 50 million dollars. Ben is an investor and syndicator operating syndications and large apartment assets from Chandler, Arizona. In this episode, we delve into topics like: how to scale, the best way to add value to large multi-units, driving business during a pandemic, and more!
Top Takeaways:
What you need to know to scale - 28:08 - 32:42
- Remember the lessons that you gain between buying duplexes to 10-unit properties
- Theyโll guide you when jumping from 10-unit to 100-unit properties
- Experience begets confidence
Best value adds for apartments - 37:31 - 44:39
- The best time to renovate is in between tenants - in a large building every door will be empty at some point
- Do whatever is necessary to lift rents
- Get to a marketable condition first, then add amenities
- A comparative market analysis helps break down where funds are best used
How to drive business in the time of coronavirus - 45:25 - 58:54
- Take advantage of the changes being made by lenders and brokers
- Building safety into your underwriting lets you sleep easy
- More equity in reserves keeps you out of trouble if rents stop coming in
Resources:
Book by Ben Leybovich: House Hacking: The Only Real Estate Investing Strategy You Need to Build Wealth, Live for Free (or almost free), and Make Money Through Homeownership
Social Links:
biggerpockets.com/users/justaskbenwhy
https://justaskbenwhy.com/
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
Schedule a 1 on 1 here: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
In this episode Jonathan Farber talks to Remington Lyman, a former JP Morgan underwriter turned Realtor who became financially free through real estate investing and has acquired more than 10 units in less than a year. Remington is an investor and agent in Columbus, Ohio, who specializes in helping out of state investors break into the Columbus market. We discuss strategies for off-market deals, getting in contact with other real estate agents and investors, and more!
Top Takeaways:
How to balance a W-2 job with part-time real estate investing - 13:15 - 17:00
- The best approach varies from person to person, but this is a benefit of investing
- House hacking is an easy way to get into real estate
- House hacking a multifamily property can have even greater returns
Building a team and a strategy 17:33 - 24:00
- There are four essential team members: Realtor, property manager, lender and contractor
- This team is especially essential for out of state investors
- Keeping the team accountable to each other maintains the integrity of the deal
Off Market deal strategy 28:15 - 44:25
- Use the resources available in your area, as an auditor site
- Skip tracing provides better data and reaches more people
- Automating using dialing services and a CRM frees up your time
How to bring value to Remington
- Need more cold callers
- Willing to share experience and methods
Resources
mojosells.com
followupboss.com
Social Links:
biggerpockets.com/users/remingtonlyman
zillow.com/profile/Remington-Lyman/
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
In this episode, Jonathan Farber interviews Dave Van Horn on his journey from a painting contractor to the founder of a multi-million dollar note investment fund. Dave is an advocate of using what youโre good at to expand your opportunities and grow your network. In this episode, we dive into topics such as: setting yourself up for success, scaling your operation, note investing, and more!
Top Takeaways:
How to set yourself up for success early in life - 12:20 - 23:10
- Find out what youโre good at
- Takes time to figure out, but itโs worth it
- Networking - you never know what youโll learn
- Can help you fill gaps in your capabilities
- What can you learn that will change your operation in the next 6 to 12 months?
How to scale your operation - 23:20 - 29:30
- Find ways to diversify income - multiple streams
- Sponsor a meeting - the larger it grows the more opportunities will come your way
- Be ready to adapt as the market evolves
Note investing - what is it and how to make money with it - 29:50 - 44:00
- Notes are debt - a promise to pay
- The benefit of investing in distressed mortgages: available at a discount, high yield, with collateral
- Invest in what you know - give yourself an advantage with your knowledge in the space
- All you need to start out is be the bank for your friends or family
How to bring value to Dave Vanhorn:
- Be aware of their time
- Find something that can free up time for them
- Maintain a fair exchange
Resources:
Book by Dave VanHorn: Real Estate Note Investing: Using Mortgage Notes to Passively and Massively Increase Your Income
Social Links:
www.biggerpockets.com/users/davevanhorn
pprnoteco.com
Connect with the host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
In this episode, Jonathan Farber interviews Reed Goossens on his path from a white-collar engineering job in Australia to have a portfolio of over a quarter billion dollars of property under management. Reed is a real estate entrepreneur and managing partner at Wild Horn Capital, based in Los Angeles. Reed is also a qualified chartered structural engineer and project manager, noted for his work in London for the 2012 Olympic Games. In this episode, we dive into topics like: taking action, finding a mentor, challenges with syndications, and more!
Top Takeaways:
How to stop hesitating and take action - 15:15 - 20:00
- Itโs paramount to be educated before you start anything, but eventually, you must start
- Let that fear of regret drive you - your greatest regret will be a deal you donโt take
- Every action you take trains you to be more comfortable with doing it
- At some point, you will get comfortable being uncomfortable
- If you feel like youโve learned everything there is to learn and you donโt know what else to do, youโre probably ready
How to find a mentor - 30:00 - 33:10
- Know that you donโt have all the answers
- Surrounding yourself with people you aspire to be like will bring you more in line with them
- Look for someone whose values align with your own
- Consider what you want out of the relationship and what you can bring
The biggest challenges with syndications - 45:00 - 47:45
- Keeping growth within your ability to handle unexpected challenges is key
- Keeping expenses to a minimum creates more room to grow
- Minimizing employees is harder, but keeps more money available to use
How to bring value to Reed Goossens:
- Leaving feedback on content including the podcast and books
- Ghostwriters or editors for a third book
Resources:
Book by Reed Goossens: Investing in the US: The Ultimate Guide to US Real Estate
Book co-authored by Reed Goossens: 10,000 Miles to the American Dream: Our Story of Financial Freedom
Social Links:
biggerpockets.com/users/reedgoossens
reedgoossens.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
In this episode, Jonathan Farber interviews Brian Burke on his journey from his first single-family rental to buying over half a billion dollars in property. Brian is based in Santa Rosa, California, and is the president and CEO of Praxis Capital, a vertically integrated real estate private equity investment firm. Brian has wide experience in nearly every type of real estate investment. In this episode, we unpack topics like balancing research and execution, blocking out noise and taking action, handling recessions, and more!
Top Takeaways:
How to balance research and execution - 19:00 - 22:00
- The amount of research you put into your operation should match the operation you want
- Preparing for years might seem like overkill but it lays a foundation that will last for decades
- Preparing for months might get you transacting sooner but may run out sooner
- Taking action without preparation is waste
How to block out noise and take action - 28:15 - 30:40
- Find a market with sustainable job growth, population growth, and income growth
- Those factors correlate directly with demand
- Any other noise doesnโt matter
How to handle a recession - 31:00 - 37:20
- Always consider the risk exposed when underwriting a potential acquisition
- Waiting for a recession to buy in probably wonโt work - all recessions are different
- Buying with more equity keeps you out of debt trouble if things go wrong
- 1% of the property value is a liberal rule of thumb for cash reserves
How to bring value to Brian Burke:
- Marketing of any kind is useful
- Providing a home to a veteran through charity
Resources:
Book by Brian Burke: The Hands-Off Investor: An Insiderโs Guide to Investing in Passive Real Estate Syndications
Aheroshome.org - Helps to provide a home for a veteran
Social Links:
BiggerPocketโs Profile:biggerpockets.com/blog/contributors/brianburke
Company Website: praxcap.com
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
In this episode, Jonathan Farber interviews Anson Young on his path to building a business in flipping. Anson is renowned for his methods of focusing his efforts on a business model that worked for him and turning it into a successful operation while remaining committed to his goal of helping his community. In this episode we delve into topics like choosing a business model, managing a wide inventory of properties, lead generation, and more!
Top Takeaways:
How to pick a business model - 14:00 - 20:10
- Look at the opportunities in your surroundings
- Use your network to find where you can fill othersโ needs and vice versa
- Find a risk profile that works for you
- Find a way to contribute to what you care about - community improvement
- Once you find something that works for you, scale
- Be ready to adapt as the market changes
- As you build experience, see where you can pivot to keep adding value
Managing different types of properties - 27:15 - 29:40
- If it can be flipped, usually do so - most profitable
- Unable to flip due to cost, historical district, etc. then wholesale
- If beneficial to the seller, put it on the market - be realistic
- Having more options to offer a seller can capture more leads and help more people
How to find real estate and generate leads - 31:15 - 46:00
- Networking - the more connections you have the more opportunities you will find
- Referrals - by keeping in touch with agents, you can help someone that might find themself in a tough spot
- Direct to the seller - the more touches you make the more business you will drive
- Start your own event - generates instant credibility
- Driving for dollars - driving your target neighborhoods gets you familiar with who youโre trying to represent and allows you to target your direct marketing
How to bring value to Anson Young:
- Local boots on the ground to help establish new markets in areas friendly to cash flow
- Being willing to learn, to do the work, and develop new business opportunities
Resources:
Book by Anson Young: Finding and Funding Great Deals: The hands-on guide to acquiring real estate in any market.
podio.com
Social Links:
BiggerPockets Profile:www.biggerpockets.com/users/anson
LinkedIn Profile: https://www.linkedin.com/in/ansonyoung/
Instagram Profile: https://www.instagram.com/younganson/?hl=en
Company Website: https://ansonpropertygroup.wordpress.com
Connect with the host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
Facebook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
In this episode, Jonathan Farber interviews Dany Randazzo who is a Real Estate investor and entrepreneur. He made the move from San Francisco to South Carolina and his business really took off! His main focus is in the multi-family space with properties in the Southeast. He grew his portfolio extremely quickly in a very short amount of time. In this episode we dive into topics like scaling your business, coming up with a plan to meet your financial goals, starting a meetup group, and more!
Top Takeaways:
How Danny got started in Real Estate - 6:19 - 11:23
- He and his girlfriend came to a point where enough was enough in exchanging time for money
- He sold everything off in California, moved to South Carolina and started buying cash-flowing Real Estate assets to generate monthly income, and eventually lead to financial freedom
- Today, he owns and controls about 220 million in multifamily properties
- The more specific you are in your criteria, the more deals you will find
- Get a mentor and they will be your biggest cheerleader
Transitioning from a W-2 job to investing in Real Estate - 34:16 - 16:07
- Started out with the goal to replace his W-2 income
- The first deal generated 5K in passive income
- Always have a goal in mind before you get started
Start a meetup group and connect with other Real Estate professionals - 34:04 - 36:57
- Go to Real Estate meet-ups to find other like-minded individuals
- Danny runs his own breakfast meetup!
- His meetups are a time for people to share how they got started, discuss any challenges, and more!
- Meetups are a great way to motivate you to move forward with your goals
How to bring value to Danny:
- Looking for someone who is extremely proficient in excel and financial modeling
Social Links:
Facebook:https://www.facebook.com/dannyrandazzo/
Linkedin: https://www.linkedin.com/in/danny-randazzo-61126449/
Instagram: https://www.instagram.com/danny.randazzo/
Twitter: https://twitter.com/dannyrandazzo
BiggerPockets Profile: https://www.biggerpockets.com/users/randaz21
Company Website: https://www.passiveinvesting.com
Personal Website: www.dannyrandazzo.com
Blog: https://dannyrandazzo.com/blog/
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
In this episode, Jonathan interviews Andrew Syrios on his journey of becoming successful in Real Estate. Andrew got involved in Real Estate through his dad starting a Real Estate business flipping houses. They have continued to grow the business focused on the BRRR method and the buy and hold strategy. In this episode we unpack: Getting started in Real Estate, the best strategy to grow your Real Estate business, breaking down direct-mail marketing, and more!
Top Takeaways:
What did you learn from your first few deals - 13:50 -18:53
- Bought houses that were just too cheap
- The importance of buying in a good area
- Understanding that properties may look good on paper, but very expensive to maintain
- The beauty of refinancing properties
The strategy of starting small to grow - 19:38 -25:18
- Tough to go big early on if you have no experience
- Would not invest with someone who has no experience
- Start small and once you have the experience, you can go big
- Parents are not a bad place to start looking for money
- Utilize FHA loans
- Buy a 4-plex and live in one unit and rent the others
- House Hacking
- 203K Program
- Buy books, podcasts, networking
- Set a date to get started
- Get educated with a plan
- BRRR Method
How much time to spend on strategy versus execution - 26:48 - 36:59
- Once you have created your strategy, you don't have to change it often
- Just because you did a lot of stuff, doesn't mean you accomplished a lot
- If you are learning, you are not working
- There has to be a balance between learning and working
- Learning and working are not the same things
- Understand what the tasks are and take action
- Getting things done system #GTD
- Set your start date as a task
How can you bring value to Andrew:
- Looking for an acquisition assistant in the Kansas City area
- Share his articles and podcast
- Meet for coffee in the Kansas City area
- Interested in meeting private lenders
Resources
ListSource
Rent Manager - Property Management Software
Smartsheet
Social Links:
Company Website: https://stewardshipproperties.com
Personal Website: https://www.andrewsyrios.com
The Good Stewards Podcast: https://www.andrewsyrios.com/home/the-good-stewards-podcast-acquisitions
Blog on BiggerPockets: https://www.biggerpockets.com/member-blogs/4837-investimication
Connect With The host, Jonathan Farber Here!
LinkedIn: https://www.linkedin.com/in/jonathanfarber1/
Instagram: @jonjfarb
FaceBook: https://www.facebook.com/jonathan.farber.9
Facebook Group: Real Estate Mentorship Mastermind
BiggerPockets: https://www.biggerpockets.com/users/JonathanF29
In this episode, Jonathan interviews Jonathan Twombly on his transition from being a corporate attorney to a full-time multifamily Real Estate investor. He has a tremendous passion for educating people and is focused on helping others build up their investment portfolios. In this episode we uncover what it is like to get started coming from the lawyer world, taking action as a newbie investor, the importance of educating yourself, and more!
What I learned at the beginning to get those larger deals 26:50 - 29:22
- Learned the entire due-diligence process
- Worked with a due-diligence consultant
- Getting a deep understanding for syndication
- Looking at the multiple deals and properties
- Got a tremendous education doing the whole entire process to purchase a property
- Talked to a lot of people in the industry to understand what resonates with people to have a successful business
Advice on raising capital 35:13 - 37:19
- If you find a great deal, the money will come = Misconception
- You have to build a network ahead of time and doesn't happen overnight
- Fundraising process starts long before the deal is found
Taking action as a newbie investor 42:20 - 50:30
- You should get educated first and don't just jump right into it
- Finding a mentor is always a plus
- Talk to brokers and go on a listening tour
- Understand the market before you talk to that broker
- Read the broker packages and what deals they have done in the past
- Get a personal introduction to that broker
- Ask intelligent questions to the broker
- Let the person talk about themselves the whole time to leave a good impression
- Look at properties
- Talk to investors and explain what you are looking for
- Partner with other people on investing
- Find a complementary partner
How to bring value to Jonathan:
- Help organize in-person events for meetups
- Join his free FB group and get to know him and other 9,000 members
Resources:
https://monday.com/
Social Links:
Two Bridges Asset Management LLC Company Website: https://twobridgesmgmt.com
The Real Estate Launchpad Podcast: https://podcasts.apple.com/us/podcast/real-estate-launchpad-ultimate-toolkit-for-multifamily/id1417589201
The Multifamily Investment Community Facebook Group: https://www.facebook.com/groups/MultifamilyInvestmentCommunity
Learn from Jonathan and great resources: https://multifamilylaunchpad.org/
In this episode, Jonathan Farber interviews Lisa Phillips on her journey from foreclosure to financial freedom. Lisa's goal is to provide professionals the ability to invest in rental properties that generate 2-4K in rental income each month. Her niche is the 30K space, which allows everyone to stop making excuses to say they don't have enough money to invest and to achieve something greater for their life. In this episode, we discuss topics like how Lisa got started in Real Estate, building a repeatable process, how to find the right market, and more!
Top Takeaways:
What Lisa has learned about herself investing in Real Estate - 28:19 - 33:12
- Everything is a learning process
- Some are equipped to handle a lot of disappointment and she is one of those people
- Born to take action
- Made to do this and she is a healer
- Not a lot of people were talking about low-cost properties and wanted to educate people on that niche
- Take advantage of coaches to guide you towards success
Find a market that has an opportunity - 34:16- 45:14
- Definitely doable to drive 1.5 hours on a Saturday looking at neighborhoods
- If having to fly, figure out how much flights will be
- Property managers are a big part of investing in long-distance ]
- Great condition, no property managers in site = skip it
- Once you find the right market then we know we can find the house
Distinguishing between execution and strategy - 46:39 - 50:23
- A lot of analysis is done before stepping foot into the home
- Once you feel comfortable on the computer, go out and see the neighborhood
- Always okay if go out and donโt find anything right away
- Be comfortable with failure
- You don't have to hit it out of the park every time
- Looking at properties is a skill
- You are gaining perspective and skillsets
- Consistent action over perfection
How to bring value to Lisa Phillips:
- Set up a strategy session call
- Take me out to eat and I am there!
Resources:
Book by Lisa Phillips: Investing In Rental Properties for Beginners
Social Links:
AffordableREI YouTube Channel:https://www.youtube.com/user/AffordableREI
Sub30k Mastermind Group on Facebook: https://www.facebook.com/groups/Sub30kMastermindGroup
In this episode, Jonathan interviews Danny Johnson and unpacks what has made him so successful on his Real Estate journey. Danny went from working a W-2, doing real estate part-time during his W-2, and then making the leap to full time. Danny is a jack of all trades with wholesaling, flipping, podcasting, developing deal pipeline software, blogging, husband, and full-time dad. In this episode we unpack topics like: How to have conversations with sellers, how to find off-market deals, having a solid marketing outreach strategy, and more!
Top Takeaways:
How to have an initial conversation with sellers - 17:34 - 24:09
- Don't put pressure on yourself and that you have to convert every deal
- Talk to the seller like a human being and that they are being heard
- Ask why they are selling their house
- Be a person they can trust
- Be that person they can ask questions
- Understand what their motivations are
- Don't whatever you do be salsey
Marketing outreach strategy - 24:35 - 43:46
- Bandit signs (We buy houses for cash)
- Driving for dollars
- Mailers
- Build a website
- Start a blog and document your investment journey/strategies
- Make pens that say, "We buy houses for cash" and drop off at a local bank
- Start a podcast
Part 2 of the sellerโs conversation - 49:05 - 54:15
- Understand how much the person owes on their house
- Set an appointment to see the house
- Is their room to make a profit?
- Dan an analysis of what it would sell for and repairs
- If they owe to much, skip it
- Understand what the rents would be
- Criteria to buy below market
Resources:
Check out Danny's Deal Pipeline Software: https://flippilot.com/
Book by Danny Johnson: House Flipping Exposed
Google Drive
Google Sheets
Social Links:
BiggerPocket's Profile: https://www.biggerpockets.com/users/dannyj
Flipping Junkie Blog
Flipping Junkie Podcast
Instagram: https://www.instagram.com/flippingjunkie/
Facebook: https://www.facebook.com/flippingjunkie
In this episode, Jonathan interviews Na'รญm Anรญs Paymรกn on his Real Estate journey in the short term rental space. A lot of businesses start with a problem you personally are struggling with and that was definitely the case for Na'รญm. He has created an incredible software that automates hospitality management from marketing, bookings, and operations to scale his business along with others. In this episode we uncover topics like how to find leads, how to approach this time during COVID, biggest mistakes that hosts make, and more!
Top Takeaways:
Ways to find leads to manage properties: 15:00 - 17:48
-
Go to networking meetings
-
Utilize personal contacts
-
Make people aware of what you are doing
-
Go on listing websites like Zillow and Facebook marketplace
-
Drive through town for vacant and rented properties
-
Hussle and salesmanship
Covid-19 and Real Estate stability: 22:50 - 31:06
-
Very uncertain times and when this will end
-
Disruption with the short-term rental industry
-
A wide spectrum of possibilities that can happen
-
How much risk do you take to get through it
-
People who don't have reserves or overhead will be very impacted
-
See if landlords can reduce the rents
-
Target traveling nurses
-
People usually lose money in the winter and make money in the summer
-
Spending energy on boosting bookings, work on website and branding
-
Preparing yourself when things come back to normal
Biggest mistakes hosts make: 38:05 - 47:36
-
Where do we even start?
-
Making sure there is licensing in place
-
Putting clauses in place in case something goes wrong
-
Have the right systems in place
-
Have a payment process and make sure it is secure
-
Make sure you know what is your money and what is not
-
Need good pictures and make sure your property looks nice
-
Spend money on professional photography
-
If you don't have nice bathroom photos, no one will book
-
Get terms and conditions signed
-
Donโt re-lease check-in instructions until you know they are the right person or address to host that guest
How to bring value to Na'รญm:
- Promoting Zeevou.com to your network
Resources:
His website to manage marketing, booking, and operations: https://zeevou.com
Guest Screening: https://www.autohost.ai
Book: Getting Things Done by David Allen Project Management
Tool: Asana Project Management
Tool: Basecamp
What Na'im is very passionate about Bahai.org
Social links:
Facebook Group: Serviced Accommodation Network (Global)
LinkedIn Profile: https://www.linkedin.com/in/naimanispayman/
Personal website: https://naimanispayman.com
Instagram: https://www.instagram.com/naimanispayman/
In this episode, Jonathan interviews Sharon Vornholt and uncovers her path of diving into Real Estate. It all started with a home inspection business in 1991 and through her local REIA she found a true passion for Real Estate. She is involved in wholesaling, rentals, blogging, podcasting and her favorite joy is teaching. She is truly someone who defines GRIT and excuses don't even exist in her world. This episode uncovers topics like why marketing is the number 1 important skill, Probates, getting out of your comfort zone and more!
Top Takeaways:
Putting a list together to find leads: 12:45 - 15:28
-
Utilize ListSource to form a list based on your criteria
-
Another option is outsourcing this task to companies to do it
-
Filter by equity and absentee owner
-
The list has to be targeted
You will never run out of leads with probates: 15:35 - 18:42
-
Real estate probates is a legal process following a homeowner's death, where the property either transfers ownership to someone or is sold
-
Very motivated sellers and won't inherent money until they sell the property
-
This is also where Sharon has gotten the most hugs at closing
-
You have to do some detective work and this is where most people quit
-
When seeing the house, forget about selling and just focus on solving their problem
-
Just have a conversation and talk about things in their house
-
Asking what would you fix if you were going to move in here
Marketing is the #1 skill to get deals: 35:06 - 38:55
-
Use direct mail to get off-market deals
-
Once you find a deal, put that money back into marketing
-
Get your marketing strategy on auto-pilot
-
Driving for dollars
-
Free strategies
-
Networking at Real Estate Meetups, make sure everyone knows your name and ask what they are doing in Real Estate
Resources:
Open Letter Marketing
ListSource
Rehab Valuator
Trello
Upwork
Dropbox
Social Links:
Blog: https://louisvillegalsrealestateblog.com/
Podcast: Let's Talk Real Estate Investing: https://louisvillegalsrealestateblog.com/podcasts-lets-talk-real-estate-investing/
Learn from Sharon and her incredible resources: https://louisvillegalsrealestateblog.com/work-with-me-sharon-vornholt-coaching/
BiggerPocket's Profile: https://www.biggerpockets.com/users/svornholt
In this episode, Jonathan interviews Ryan Lundquist on his journey to becoming an appraiser. Ryan originally was a private school teacher before he decided to take the leap into the appraisal business. He found the right mentors to teach him the lay of the land and has been doing it since 2003. In this episode we dive into topics like: what an appraiser does, the current state of the market during Covid-19, how to add value to properties and more!
Top takeaways:
Appraisal process has shifted to be more digitized:
-
Site unseen
-
Facetime with the owner of the property
-
Pictures
-
Videos
-
Drive by to the property and look at the outside only
Adding the right value to properties:
-
Evaluate based on the neighborhood, location and type of property to name a few
-
Look to the comps for answers
-
Look at similar properties and see how it compares to yours
-
Be careful at evaluating on price per square foot because there is a range
-
Find homes that have a similar size, location and amenities
How to bring value to Ryan:
-
Always looking for people to offer perspective and insight on the market
-
Best way to ask for help is to say, "If you have a minute, do you mind if I ask you a question?"
Social Links:
Website: http://lundquistcompany.com
BiggerPocket's Profile: https://www.biggerpockets.com/users/SacAppraiser
Blog: https://sacramentoappraisalblog.com
YouTube Channel: https://www.youtube.com/user/lundquistco
Twitter: https://twitter.com/SacAppraiser
LinkedIn Profile: https://www.linkedin.com/in/ryan-lundquist-6b3a4811/
Facebook Page: https://www.facebook.com/SacramentoAppraiser/
Catch up with Jonathan and see what he has been up to the last couple of months!
Highlights of the Episode:
- Jonathan packed up his bags and moved from NY to NC
- Set up 2 Airbnb's in Pinehurst, NC
- Refinanced 6 rental properties
- Go with the local lender. Just do it!
- Getting a deeper understanding for the Louisville area and evaluating neighborhoods
- Best practices for finding and prospecting deals
- Content creation focus
- Starting a mastermind group
- Time management tips
In this episode, Jonathan interviews John Cohen and uncovers his incredible success in Real Estate. As part of his business at Toro, he has acquired over 3500 units accounting for over 250 Million in assets. This episode uncovers topics like building a successful team, value add investing, building wealth while working a W-2 and more!
Top Takeaways:
Value add investing:
-
Buy at market value or below
-
Increase value by making repairs
-
Find the right people to do the repairs
-
Find the right property manager
-
Look at the comps in your market and understand what makes the most sense to add value for your property
-
Have an operational and property management strategy
Building wealth while working a job:
-
Donโt quit your job until you have enough savings for 12 months
-
Become pactive = passive and active
-
House hacking is the perfect way to get started and there is very low risk
-
Invest your money passively
-
Educate yourself before you invest in anything
Resources:
monday.com
Social links:
Email: john@tororep.com
Company Website: tororep.com
Instagram: @john_jc - https://www.instagram.com/john_jc/?igshid=nlgbgugue7od
In this episode, Jonathan interviews Will Brown on his incredible path to Real Estate. It all started in high school when he went to a Real Estate seminar with his mom and that opened his eyes to the incredible possibilities of Real Estate. He became laser focused on educating himself and figuring out his ONE thing to build a successful Real Estate Business at just 20 years old. This episode will uncover how he first got started wholesaling in college, his wholesaling process, fear of rejection and more.
Top Takeaways:
Educating Yourself and getting started:
-
Educate yourself beyond a reasonable degree
-
Figure out the purpose of why you are doing what you are doing
-
Learn how the ONE Thing changed his whole life and focus on Real Estate
Working with Systems:
-
You donโt need a system for something you donโt know how to do yet
-
Systems are made to simplify things
-
Every system has been used out of a necessity
-
You have to have a need for systems
Process of getting data:
-
From Willโs website email brian.chesla@natimark.com and mention keyword BP2020 for a great discount
-
Criteria for getting data below:
-
30% equity (0-70% LTV)
-
Year built before 1995-2000
-
Homeowner age 50+
-
Property value <250K
-
Owner occupied and absentee owners
-
Your list of zip codes or counties
How to bring value to Will:
-
Share this podcast for people who are involved in Real Estate or interested in getting started
-
Raising money for his company and send an email to learn more at will@arestech.ai
Resources:
-
Call Rail: https://www.callrail.com/
-
Spokeo: https://www.spokeo.com/
-
The ONE Thing by Gary Keller & Jay Papasan
Social Links:
Willโs Website: http://www.arestech.ai/bp
IG: @will.jbrown - https://www.instagram.com/will.jbrown/?hl=en
In this episode, Jonathan interviews Serge Shukhat on his successful journey in Real Estate. Serge has been a huge role model to Jonathan and someone who has helped him take massive action. Serge has built a huge portfolio of 70 single-family homes that have all been sold and over 400 multi-family units. This episode uncovers topics like scaling your Real Estate portfolio, creating a corona game plan, having an acquisition strategy, and more!
Top Takeaways:
Action plan during Corona and best practices in Real Estate:
-
Take care of your banking relationships or find them if you donโt have them
-
If you donโt have a local community bank, go get them
-
Be patient and invest in education and networking
-
Identify your market strategy (SFH, multi-family, etc)
-
Identify the listing agents on those sales that sold the most in the category you are looking to focus on
-
Make sure the listing agents/brokers know your name
-
If a property comes up for sale, they should be calling you
-
Patience and liquidity
Words of advice:
-
Look for equity over cashflow
-
Large balance sheet
-
Strong broker relationships
How to bring value to Serge:
- Looking for people to check on his properties and make sure everything is running smoothly
Social Links:
- BiggerPockets Profile: https://www.biggerpockets.com/users/sfcgee
In this episode, Jonathan interviews Diego Corzo and uncovers his story of becoming an American Dreamer. There were some obstacles in his way, but he didnโt let that stop him from achieving financial freedom. He went from graduating college at 22 and then started his investment journey at 23 years old. He now has 15 doors and no longer has that W-2 lifestyle. Diego is defined as someone who consistently takes action and it shows with his tremendous results. He continues to surround himself with incredible mentors that push him and hold him accountable to achieve more. He wants to take all of his knowledge and give back as much as he can!
Key takeaways:
Best place to start in Real Estate:
-
House hack to eliminate your biggest expense = RENT
-
Look for turnkey, 4 bedrooms, 2 bath, and less than 2500 square feet
-
This allowed him to make positive cash flow from day 1
Building your investment team:
-
Work with a team that has expertise in the type of real estate you are investing in
-
Find an investor-friendly realtor and lean on them for resources in that specific area
Coaching/Mentors:
-
Work with people who have tremendous experience
-
Do everything they say, take action and this will yield incredible results
-
Leverage Facebook groups and meetups in your local area
How to bring value to Diego:
- Looking for savvy people to create graphics to share on Instagram and Facebook
Resources:
Trello
Rich Dad Poor Dad
Social Links:
Ratracetofi.com
IG: @realdiegocorzo
Website: diegocorzo.com
In this episode, Jonathan interviews Chris Grenzig to uncover his path to getting involved in Real Estate. Jonathan and Chris go way back and actually went to the same college together. Chris is an Asset Manager at Toro Real Estate Partners and was able to achieve that role through an incredible mentor. This episode unpacks what it means to bring value to others, marketing strategies to get deals, corona game plan and more.
Top Takeaways:
Bringing value to others:
-
Recognize a need for the person you are trying to bring value to and present that idea
-
Come up with an idea of how you can bring value versus bringing the burden onto the other person to think of an idea
-
Take stock of what you do well and keep a running list
-
Reach out to a company who is older and needs help getting more involved in technology
-
Ideas to bring value for older companies are: Posting to Instagram, creating a company website, help with graphics and video editing
Corona game plan:
-
All in-person showings have stopped, maintenance requests are only for emergencies and leasing office is closed
-
Send a list of open jobs to tenants to apply to
-
Take advantage of the stimulus bill that most tenants will qualify for based on their income
-
Have a flexible payment plan in place
-
Rent renewals have halted
-
Cut all late fees
-
Create a resource package
Resources:
monday.com
Social Links:
-
Come check out Chrisโs podcast: The Real Estate Investing Experience
-
Company website: http://tororep.com
-
IG: @chris.grenzig
In this episode, Jonathan interviews Michael Ealy on growing his Real Estate business to 1000 units. He got started by house hacking and has a goal of doing 300 million in deals this year. It wasnโt peaches and rainbows starting out! It went from getting evicted in 2002 due to the recession, living with his parents and he got his car totaled. He didnโt let any of his obstacles get in the way of achieving his goals.
Takeaways:
No money down:
-
You need money, but it doesnโt have to be your own
-
Be creative with financing your deals
Getting started:
-
Donโt be that person who is constantly overanalyzing and not moving
-
You are going to fail and that is OKAY
-
Making mistakes is just part of the game
-
Everything is attainable
-
If you say you can do it, then you can DO IT
What does a strong partnership look like:
-
Bring value to the table
-
It is a relationship and you have to like each other
-
It is like dating!
-
It isnโt all about the money even if 2 million is involved
How to bring value to Michael:
-
Find a deal
-
Raising capital
-
Building feasibility reports
-
Editing videos they have created/ webinars
-
Boost social media presence (Instagram, Facebook and Twitter)
Social Links:
Company website: www.nassauinvests.com
BiggerPockets Profile: https://www.biggerpockets.com/users/MichaelEaly
LinkedIn: https://www.linkedin.com/in/nassaumikeealy/
In this episode, Jonathan interviews Jon Schoeller on his successful Real Estate journey. Jon is always keeping himself busy with the many ventures he is a part of: Real Estate investment business, fitness business, YouTube channel and building his own Real Estate portfolio. He dives into tangible tips and tricks to take action and the importance of being a value add focused person.
Episode Breakdown:
1) Intro dig in/Strategy: 0-22:58
2) Getting started/Taking Action 22:59-50:29
3) Content intake/Time management/Tactics/Tools: 50:30-1:00:58
4) Wind down: 1:00:59 -1:09:23
Top Takeaways
Tips for creating content:
-
Most people are not comfortable getting on camera, but you just have to start
-
Repetition is key to getting more comfortable and natural
-
Record with no intention of posting
-
Record the same thing 10 to 15 times and eventually, you will find one that is post-worthy
Finding deals today:
-
Majority of deals are off-market
-
Go to sites like Zillow and look at the ones that have been on the market for 100 plus days
-
The longer on the market, the easier it is to get a good deal
-
Understand what the resale value is in the neighborhood you are looking at
-
Start knocking on doors and ask people if they are interested in selling their house
Taking Action:
-
Be a value add person and solve problems for people who donโt have the time to do it themselves
-
Surround yourself with people who are doing what you want to do
-
Learning by doing
-
Start early in your 20โs; Just do it
-
Checklists for everything
Working with Contractors:
-
Never tell them your budget, because then they will try to get every penny
-
Call multiple contractors to walk through the property and give an estimate
-
Always pay the contractor for their time
-
Find a contractor who communicates extremely well, timely, respectful and gives recommendations
How to bring value to Jon:
- Help with marketing and social media. Always looking to boost his presence online
Resources:
Matt DโAvella YouTube Channel: https://www.youtube.com/user/blackboxfilmcompany
Basecamp management tool
Social Links:
YouTube Channel: https://www.youtube.com/channel/UCBIK5rMihvG0-0ZHS5lARCQ
IG: @thefrugalinvestor
Company Website: https://www.aminvestmentswv.com
In this episode, Jonathan interviews Nick Roberts on his family-owned rental and property management business. Nick is fortunate to work alongside his mom and sister to run a very successful and trustworthy business. This episode focuses on getting started when working with property managers, screening tenants, best practices and more!
Top Takeaways
Getting started working with property managers:
-
It can be very easy to be naive and get persuaded in the wrong direction
-
A good property manager is straight forward from the beginning and has extensive knowledge of the business
-
Connect with a property manager before you invest so they can give you feedback on if it is the right investment
-
Make sure the tenant and owner are happy
Screen tenants:
-
Must have to check for: Credit, criminal, employment and rental history
-
Old-timers will look at what vehicle they drive and how they look
-
Both tenant and owner is interviewing each other
Best practices:
-
Look at Google reviews
-
Make sure that you are documenting EVERYTHING
-
No, she said he said
-
Make sure it is a comfortable fit between the property manager and landlord
How to bring value to Nick:
-
Lets get those Google Reviews up and show some love for his property management company
-
Always looking to bring on more clients to manage their property
Resources:
AppFolio Property Manager
Social Links:
Ben Roberts Rentals & Property Management: https://www.robertsrentals.net/
Email: nick@robertsrentals.net
In this episode, Jonathan interviews Taylor Loht and discusses how to have the best of both worlds with a W-2 and crushing it in Real Estate Syndication. We will go through topics like: How did he get started, Taking action, Coaching/Mentors, Content intake/Time management and how you can add value.
Top 2 Takeaways:
The importance of being a thought leader
-
Create a podcast: You are doing a disservice by not sharing your knowledge and helping others
-
Start a Meetup group: Build a Real Estate community that holds you accountable to achieve your goals
Find a coach/mentor to accelerate your Real Estate journey
-
Building relationships is critical and essential to going from good to great
-
You might be surprised to hear that successful people will say yes over no to a 5-minute call
-
Look at what successful people are doing and replicate it
1)Intro dig in/Strategy: 0:00 - 24:55
2)Getting started/Taking Action: 24:56 - 38:49
3)Coaching/mentors: 38:50 - 49:29
4:Content intake/Time management/Tactics/Tools: 49:30 - 102:58
5)Wind down: 1:02:59 - 1:02: 1:20:56
How to bring value to Taylor:
-
Come join his Multi-family meetup in Richmond, VA. They are always looking for speakers to talk to the group!
-
Looking for someone to help with his podcast. He is specifically looking for someone to help with copywriting and social media
-
Share his podcast: https://www.passivewealthstrategy.com/podcast/
Resources:
Website: Passivewealthstrategy.com
Learn the top 5 things that are holding you back in Real Estate: Tex Real estate 31996
Meetups every month in Richmond VA
Social Links:
BiggerPockets Profile: https://www.biggerpockets.com/users/TaylorLoht
LinkedIn Profile: https://www.linkedin.com/in/taylor-l-3416b627/
In this episode, Jonathan interviews Juan Pablo Herrera and they discuss how he transformed his hobby of Real Estate into a full-time job. We will go through topics like: How did he get started, Taking action, Coaching/Mentors, Content intake/Time management and how you can add value.
Takeaways:
How to successfully balance a corporate job and Real Estate
-
Treated Real Estate like a full-time job and had a set structure
-
1 hour before work, 1 hour after work and 8 hours on the weekend
-
Discipline at all time even when you donโt feel like it
-
Canโt just show up when you feel like it
Taking Massive Action
-
Be very specific with what you want
-
Make it measurable
-
Make it a constant reminder to build motivation
-
Keep feeding your mind with knowledge
1)Intro dig in/Strategy: 0:00-20:08
2)Getting started/Taking Action: 20:09-23:27
3)Coaching/mentors: 24:28-34:34
4:Content intake/Time management/Tactics/Tools: 34:35-46:41
5)Wind down: 46:42- 1:01:52
How to bring value to Juan:
-
Podcast help! Someone to assist in formatting and identifying the best platform to put his podcast on
-
Looking for someone who is operationally focused to help with documenting processes and systems
Social Links:
YouTube Channel: 100 Percent Financed
Website: https://www.100percentfinanced.com
Instagram: @100percentfinanced
In this episode, Jonathan interviews Joe Cox and uncovers the strategies that have led him to incredible success. He has gone from 2 to 13 doors in just 3 short years. His big focus is to increase his net monthly by $700-$800 dollars and is always willing to share best practices.
Takeaways
The different types of investments:
-
High end: Best area, great tenants and looking for more appreciation
-
Middle tier: Average house, working-class and appreciates a little over time
-
Low end: Low rent, invest with a low amount, may not be the best area and all about cash flow
Joeโs key focus areas:
-
Growth mindset
-
Put your goals on paper
-
Buying properties that are between 80-100K
-
Buy and hold guy
Joeโs words of advice:
-
You just have to pull the trigger and get started
-
Real Estate is a marathon, not a sprint
-
Not going to get rich in one day
-
Here for the long haul
-
All about building strong relationships and treating people well
-
Your handyman is the person you should be taking out for drinks!
How to bring value to Joe:
- He is always looking for creative ways to finance his deals
Resources
Freedom Property Group - Local Louisville Company working with homeowners, renters, and investors to reach financial freedom http://freedompropertygroupky.com/
Social Links
Facebook - https://www.facebook.com/joe.cox.75033
In this episode, Jonathan interviews Greg Dickerson and uncovers the secret recipe to achieving incredible results. Greg is defined as a serial entrepreneur, real estate developer, coach, and mentor. It was 1997, where his career really took off and has been growing ever since.! His career has revolved around buying, developing, remodeling hundreds of custom homes and commercial buildings. He has developed and sold over $250 million in real estate. He has created 12 companies and he isnโt taking his foot off the gas pedal anytime soon!
What we cover in this episode:
-
Gregโs natural born entrepreneurial and leadership skills that started way back in elementary school
-
Passion for coaching and mentoring all of the people he interacts with
-
Always striving to bring the best out of all the individuals he works with
-
Surrounding yourself with successful people and being a seeker of wisdom
-
Advice on how to take action when you are just starting out
-
How to create a successful partnership between a newbie and seasoned investor
-
Donโt wait and just do it already!
Resources:
Go check out the โDickerson International School of Entrepreneurshipโ where it provides interactive online learning and training for entrepreneurs and real estate investors at https://www.DickersonInternational.com/courses
LinkedIn Profile: https://www.linkedin.com/in/agregdickerson/
In this episode, Jonathan Farber interviews Craig Curlap and uncovers the massive benefits of house hacking to achieve financial freedom. Some topics discussed are: how to get started in house hacking and doing it extremely well, sharing the knowledge by creating a book and the importance of having a mentor.
3:33 - This guy works at bigger pockets!
5:26 - Pros and cons of doing real estate at a young age
7:31 - First deal and doing it a little differently
11:46 - Waiting a year to do deal 2
14:59 - Strategies on finding roommates the fastest
16:10 - Criteria for getting the right roommates
18:28 - Let's rinse and repeat this process
21:30 - Deciding between room by room and Airbnb
23:44 - Where are people getting stuck and holding people back
25:32 - What's next in this real estate adventure
28:01 - It's selfish not to create something
29:36 - Share the knowledge and write a book
32:27 - How does life change after writing a book
34:08 - Staying educated and the platforms that are being used
36:18 - Taking advantage of groups and coaches
37:47 - Are you giving a value add or value ask
39:00 - Mentors are just like friends and having an authentic relationship
41:50 - Systems, app and tools most helpful
44:12 - Bringing value to Craig
Resources:
Book written by Craig Curlap: The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom
IG: @Thefiguy
Electronic Signature: DocuSign
In this episode, Jonathan Farber interviews Justin Fraser on his strategies and successes in the real estate industry. Justin was involved in real estate while he was working full time and then turned it into high gear when he got laid off. He didn't let rejection stop him and surrounded himself with the right people to get incredible results.
Things you will learn in this episode:
8:00 - Commercial brokers only work Monday-Friday
9:05 - Finding properties, getting rejected and staying firm on an offer
12:35 - Private money & owner financing
18:03 - What do I say at networking events
19:28 - I need to work with bigger units and here's why
21:25 - How to get started and jumping in
22:27 - What is house hacking
23:54 - How to get into the door with credibility
26:40 - Have the capital and deciding which route to go
29:29 - Working with a partner or I need to know that guy
33:47 - What could you do if you focused on this full-time
37:42 - Be a small part of a big deal
40:12 - Everyone playing their part and do your job
41:35 - Raising capital and what that looks like
44:33 - Need something that is scalable to find investors
46:36 - Some investors are not always the right fit
49:42 - What does a typical day look like
52:07 - Websites, apps and planning to be successful
How to bring value to Justin:
- Looking to hire an assistant to help with automating and simplifying processes
Resources:
True Multifamily podcast - Check out Justin's podcast
Smartsheet - It is used to assign tasks, track project progress, manage calendars, share documents, and manage other work, using a tabular user interface.
Social Links:
Justin Fraser LinkedIn:https://www.linkedin.com/in/fraserjm/
In this episode, Jonathan interviews Michael Sjogren on transforming his life and others through Real Estate. They discuss topics like leaving the corporate world to live a life of financial freedom, surrounding yourself with an accountability group that pushes you to achieve your goals, and believing in yourself to take action. Michael is very passionate about inspiring and empowering people to realize their limitless potential.
Things you will learn in this episode:
4:51 - The importance of having a strong why
5:50 - Pain versus pleasure
7:08 - What does that process look like when you first start and beyond
7:56 - You either have to poop or get off the pot
10:02 - How to scale without any money
12:56 - Last day of being in the corporate world
15:25 - Gathering information and taking action
16:40 - Goal setting process called rafting
18:28 - Having an accountability group is crucial
20:46 - How to get involved with an accountability group
22:04 - Becoming a whole life millionaire
23:50 - What goes on in an accountability group
25:47 - Going all in or I'm going to quit this accountability group
29:06 - Value add or value ask
29:59 - Believing in yourself to do this thing already
33:47 - Making money very quickly to unlock your passion
36:12 - Handling the bigger deals
37:38 - Learning how to make people more money - nail that skillset
42:05 - Show the path and jump together 4
4:40 - How to be a value add to Michael
47:42 - Think about what your purpose is and add value beyond yourself
How to bring value to Michael:
-
Looking for creative people to assist with his podcast
-
Looking for an Administrative Assistant to help with day to day tasks
-
Wants to work with people who are hungry and have a growth mindset to take action
Resources:
https://www.strsecrets.com/strlp - Michaels website on short term rental secrets
https://gom1.com/ - M1 is a whole life leadership development community with proven results in increasing net worth and passive income, and improving relationships, health, and lifestyle
https://www.gobundance.com/ - The tribe for healthy, wealthy, generous men who choose to lead epic lives
Social Links:
Michaels LinkedIn: https://www.linkedin.com/in/mikesjogren/
David Pere joined the Marine Corps in August of 2008. Since that time, he has lived in or traveled to many unique places around the world, including a combat tour in Afghanistan. His awards include the Navy and Marine Corps Commendation Medal, two Navy and Marine Corps Achievement Medals, and a Combat Action Ribbon. David got started in real estate investing in 2015 after reading โRich Dad Poor Dadโ by Robert Kiyosaki. He house-hacked a duplex with the FHA loan and lived in it for a little while until getting married to his beautiful wife, Kimberly, and receiving orders to Hawaii. David and Kimberly have two children, Cody (10) and Jackson (2). While stationed in Hawaii, David bought a 10-unit apartment in Missouri and was able to use bank-financing, seller-financing, and a home equity line of credit to purchase this property with less than 6% down (and great terms)! Through these experiences, From Military to Millionaire was born, with the goal of teaching service members and veterans how to build wealth through real estate investing, entrepreneurship, and personal finance! As a result, he has helped many of his readers increase their savings gap, purchase real estate, and increase their chances of achieving financial freedom!
How to bring value to David:
-
Always looking to connect with people who would be a good fit for his networkย
-
Looking for awesome guests to come onto his podcastย
In this episode, Jordan discusses with Jonathan how he has done 6 real estate deals in under 2 years while serving in the military. ย Often times people have to get stuck or challenged in a job without a high W2 or not having enough time for a side hustle due to job commitments. ย Hear how Jordan overcomes both and how he is adding ANOTHER deal in the next quarter!
In this episode, Matt discusses how / why he quit his corporate job to get into real estate. ย Since becoming a real estate broker in the Chicago area, Matt has worked closely with real estate investors to grow his and their business. ย In his first year, he was named rookie of the year. ย In his first year, he completed over 50 transactions from a complete standstill.
Connect with Jonathan
LinkedIn: linkedin.com/in/jonathanfarber1
In this episode, Jonathan Farber and Eduard Gomberg discuss how to become financially free through Airbnb. Eduard runs a tech startup in Silicon Valley and enjoys hosting down to earth people through Airbnb. His motto in life is: relentless focus, boring consistency, and no bullsh*t.
Connect with Jonathan
LinkedIn: linkedin.com/in/jonathanfarber1
Email: jonjfarber@gmail.com