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This episode is dedicated to women who are interested in real estate investing. Tyler turns over this episode to partner and wife, Jill, but first, Tyler introduces Deborah Razo. Deborah Razo is from California. She has a degree Entrepreneurial Management from UCLA’s Anderson School of Management. In 2011, she began her investing education with intensive workshops with Robert Kiyosaki, the Rich Dad Advisors, and the Real Estate Radio Guys. Jill brought Deborah on this episode to talk about WREN, the Women’s Real Estate Network. As the founder of WREN, Deborah’s objective was to create a community of women who are involved in real estate investing that can empower each other, share resources, experiences, and tools used to help each grow personally and professionally. All while having fun as women. Jill and Deborah touch of several aspects of challenges that women may face when investing in real estate and how WREN inspires and helps women to overcome those challenges. WREN will host networking and skill development events, and is looking for experienced women to mentor the less experienced and add value by helping and supporting one another both personally and professionally. Deborah and Jill talk about that WREN began in Burbank, CA and is now expanding to add chapters in Seattle, WA, the Tampa Bay area of FL Florida, and Tennessee. WREN will be hosting “Ignite your Fire Within” on October 23, 2016, in Burbank, CA at the Vanity Salon. The event will be from 1:00pm to 5:00pm. The location address is 2010 W.Burbank Blvd. Burbank, CA 91506. This event is open to all women. An absolutely rockstar panel of women will be speaking on subjects including; passive income, flipping, commercial real estate, self storage and investing using syndication and crowd funding. The panel includes: Gena Lofton, Iris Veneration, Jillian Sadoti, Elizabeth Braman, and Alia Scott. To reach Deborah Razo you can email Deborah at drazo@wreninspires.com find her on WRENInspires.com, or look for WREN – Women's Real Estate Network on Facebook and Meetup.com. Deborah cell number is 818-843-7772. To reach Jill Sheff of the Cash Flow Guys, email Jill at Jill@CashFlowGuys.com or by cell, 727-560-0223.
The post 043 Watch out Guys, Here Comes The Ladies with Jill Sheff and Debra Razo first appeared on Cashflow Guys.
Introducing Whitney Nicely East, a true rockstar in the real estate industry who takes the action necessary to win the game. Whitney is a Licensed Real Estate Broker, Auctioneer, Educator and Coach. Whitney believes in keeping it simple, and while doing so also gets the job done each and every time. As an advocate of women investors, Whitney provides coaching services to women exclusively through her website WhitneyNicely.com During this episode we dive into getting past the fear of taking action and learning how to overcome objections to accomplish your goals. Whitney uses a practical approach to help people out of tough situation while at the same time solving problems. Later in the episode we discuss her upcoming Biltmore event and the fact that she is easily found by searching “WhitneyBuysHouses” on social media channels. Having trouble getting started in real estate investing? Not sure where to start or what to invest your money in? Reach out to Tyler for a no obligation phone consultation by visiting CashFlowGuys.com/AskTyler
The post 042 Keeping It Simple and Crushing It with Whitney Nicely East first appeared on Cashflow Guys.
This episode discusses many of the common Foreclosure Failures and how to avoid them. Tyler Sheff dives into the foreclosure offers and contracts and provides tips on how to avoid winding up in hot water or losing money when purchasing foreclosures.
The post 041 Foreclosure Fails and How to Avoid Them first appeared on Cashflow Guys.
Asset managers are overzealous: Often make unfair or illegal demands: Asset managers know that we are in a sellers market and take full advantage of that by applying scarcity mentality tactics. In many cases, if a buyer does not comply or agree to whatever the REO manager asks the bank will simply cancel the purchase contract. When this happens the buyer is simply out the cost of an inspection and appraisal if applicable, not to mention their time. Force you to sign contracts not in your favor: Many of the bank’s contracts and addenda are written in total favor of them, offering the buyer little to no protection, recourse or rights. As a buyer of REO properties, be sure to fully review all paperwork provided by the banks. Use high pressure tactics to get you locked up under contract: The banks know it is difficult for the average person to simply “walk away” from their earnest money deposits and/or monies paid for home inspections and appraisals. Knowing this, the banks often wait until late into the buying process before they spring unreasonable demands on the buyers. Short inspection periods mandatory: Banks generally will not accept offers these days that have “extended” inspection periods. In recent months the banks have been counter offering with short (1-3 day) inspection periods. In some cases they simply refuse to allow any inspection period whatsoever. The Bank is NOT your Friend: Under no circumstances will the banks take any measures to protect the buyer. Most buyers fail to read any of the paperwork provided by banks that is required to be signed. These contracts and addenda are written 100% in the favor of the banks…Buyer Beware! Gone are the days when your local bank was your business partner. It is your responsibility to be sure you read and fully understand the REO purchase paperwork. Foreclosure properties are often NOT a “good deal”: REO properties generally sell above the asking price in many markets. This is because the distressed nature of these properties leads buyers to believe a “deal” can be had. The banks know that you think this way and thus often intentionally underprice REO properties to attract more buyers who are searching for the elusive “great deal”. REO properties that are on the MLS are the actual “leftovers” after being cherry picked by the government agencies and not for profit organizations. These entities have priority to purchase these long before they hit the open market. Former owners often do hidden damage, an example would be filling the sewer lines with concrete or drilling holes in the roof. Homeowners sometimes blame the bank when they fall into financial trouble and feel vindicated by causing damage to the property before they abandon in during the foreclosure process. The banks will do a quickie inspection in most cases however scoping sewer systems is often not part of the inspection process. Be sure to take your time and complete a thorough inspection. Hidden Fees in closing documents are commonplace these days. The banks and the vendors that work for them will often pass undisclosed fees on to the buyers in these transactions masked as “admin” or “closing fees”. If you question them, or refuse to pay, the banks will cancel the contract in many cases and refuse to sell to you. There are cases where buyers have lost thousands of dollars when this happens with no recourse against the banks (see above on contract clauses). As a buyer ALWAYS choose your own title company (one that you trust) to facilitate closings. Closing and Title Issues: Exceptions to the title policy happen every day. The banks try to sneak this into the “exceptions” page of the title policy to prevent the buyer from having any recourse or protections in the event there is an issue. I deal with Insured Title Agency because they can close my transactions in any state AND they bring the exceptions to my attention each and every time. Kevin Overstreet can be reached at (813) 855-3585 if you have any questions about title policies. Read the entire contract and addenda and be sure you understand it. If these is something you don’t understand, take the time to hire an attorney to explain it to you and inform you of any risks that exist. Mistakes are guaranteed: There are almost always mistakes in documentation and foreclosure documents. Title packages are often incorrect as is the math. Buyers often fail to check the math and wind up overpaying or being charged for items that are not their responsibility. Have questions? Join our private Facebook group at CashFlowGuys.com/group to get your questions answer for the benefit of the entire group. If you have private questions, you can email info@cashflowguys.com Are you stuck on how to proceed with your real estate investing activities? Go to CashFlowGuys.com/AskTyler to book a free 30 minute consultation with Tyler in order to seek guidance on how to proceed in your journey to financial freedom.
The post 040 Banks Are Not Your Friend | Foreclosure Failures and How To Buy Safe first appeared on Cashflow Guys.
Productivity Guru Nick Snapp joins Tyler Sheff in this week’s episode of the Cash Flow Guys Podcast to discuss the fine art of being productive on purpose. Nick is the host of the Make It Snappy Podcast As we have discussed before, defining your true “why” and more importantly “THE” “Why” must be uncovered. Once this critical piece is discovered, it needs to be broken out into a process. The process should focus on that “One Thing” needed to accomplish what you need to. Often, beginning real estate investors have difficulty getting their family on board with building a new business. Fear of failure, or obscurity tends to shy many people away from the realm of investing in general. Spouses, parents, ect develop financial concerns that are tied to potential failure, and often wind up contributing to failure at the same time, often unbeknownst to them. In general, people often fear what they do not understand. By involving your immediate family or influencers in the learning process the beginning investor can often have a better experience when others are learning along with them. Time Communication is also an important element that leads to a far better overall experience. By sharing your calendar with your spouse or accountability partner, transparency is created as is more productive use of available time. Nick plans 5 to 6 hours of blocked out time, leaving the rest of the day for variation allowances. This method makes scheduling far more manageable and allows for more completed projects. Nick and Tyler both use ToDoist as a task manager application. Nick then uses it to fill up those blocked out sections of time with specific tasks. To learn more about Nick’s Ninja Productivity Secrets take a listen to this episode and then visit his website at http://www.makeitsnappyshow.com/ Stuck on how to get started in real estate investing? Get a free 30 minute consultation at CashFlowGuys.com/AskTyler
The post 039 Be Productive on Purpose with Nick Snapp | Make it Snappy Podcast first appeared on Cashflow Guys.
In this episode Tyler Sheff answers several questions from the CashFlowGuys.com Podcast audience. We begin with seller financing where a listener asks “How can I convince the seller to accept owner financing”. Tyler explains several ways that owner financing aka Seller Financing or Purchase Money Mortgages can be explained to a seller to where it makes sense to them. An old saying says “A man convinced against his will is of the same opinion still” This means that you cannot force your opinions and ideas on others, instead you have to explain it in a way that brings the other person to a point to where your idea becomes their idea. By taking the time to explain the features and benefits of your idea to them, they can begin to discover what is “in it for them” There are numerous benefits to seller financing that homeowners need to be made aware of. This is one of the most used strategies that Tyler teaches his coaching students. When structured properly, it can create a true win / win relationship. Tyler goes on to provide some real world examples that can be used to assist you in obtaining terms on your next real estate purchase. Tax advantages are a popular benefit of seller financing. By explaining the basics of these advantages, you may be able to pique the interest of the seller. Publication 537 if the IRS code discusses the tax advantages if installment sale agreements (seller financing). An investor should become very familiar with this publication and Section 121 of IRS code. By learning to negotiate terms as a wholesaler or rehabber you will able to acquire and flip far more property. When you make the property you are offering “easier to buy” far more buyers are attracted. What happens when you open your property up to a larger audience? The price goes up…WAY UP. Take the time to truly discover the needs of the seller. This one point is the most often overlooked thing that Realtors miss. Ask a listing agent “why are they selling”, most will not be able to tell you why the seller is really selling. If you listen to the answers to the questions you ask, often you will learn, how much money the seller really needs. Sometimes….they don’t really need money at all (yes that is true). Do you feel that mastering the mindset for seller financing is important for you? Do you feel you could buy much more real estate if you had the training on how to master this mindset? To talk to Tyler about becoming a Cash Flow Guys Coaching Client, book some time on his schedule at CashFlowGuys.com/coach To read discussions on our private Facebook group on this subject or watch Tyler’s videos on it go to CashFlowGuys.com/Group to join our free Facebook Group.
The post 038 How to Buy Real Estate Using Seller Financing and Listener Questions with Tyler Sheff first appeared on Cashflow Guys.
Mindset shift…..Your tenants are your customers. In this episode, Tyler Sheff discusses several topics related to being a good landlord while still maintaining profits. When you have convinced yourself that it IS your responsibility to provide clean, safe, affordable housing, you will find out that your chances of success will be far greater. Mindset is a big part of our success at CashFlowGuys.com. Tyler Sheff and Jill Sheff spend a great deal of time learning and continuing to self improve. When working with their coaching students, mindset and the psychology of learning how to work with people is a big part of what they teach. If you are in a place where you are ready to take your investing career to the next level, then book a coaching consultation with Tyler by visiting CashFlowGuys.com/Coach During that free one hour consultation, Tyler will provide you an in depth look at the strategies he uses and will teach you to help you achieve your investing goals in the shortest amount of time possible.
The post 037 How to be a good landlord and maximize profitability with Tyler Sheff first appeared on Cashflow Guys.
Sometimes it takes learning the same thing more than once….or twice….. to sink in. Recently I was provided an opportunity to travel to Puerto Rico with the crew of “The Messengers” documentary to film John Lee Dumas of Entrepreneur on Fire and Kate Ericson of the “Kate’s Take” audio blog. The crew and I had a great time and learned quite a bit from two legendary podcasters. What I did not expect is what else I learned….again….. Keep it simple – JLD was asked how he responds to people’s judgement and negativity of him making profits. John looked at the interviewer and simply responded “I don’t”. This is a very simple lesson, just ignore “naysayers”, ignore negative people and negative things, ignore doubt. John and Kate’s studios are shockingly simple, a desk, computer and a microphone, yet these simple, affordable tools, yield them millions of dollars a year. Their simple genius employs a series of virtual assistance to assist them in running their business. In real estate (amongst other things), fear can be an overwhelming feeling. We try (and succeed) in making things more difficult than they need to be. If you want to succeed, simply decide to and then take the appropriate action to see it through to the finish line. We do not need to complicate our lives or our vocation with many tools to accomplish simple tasks. John and Kate built their business by simply doing things that others were unwilling to do. Go Bigger – Why limit ourselves to barely making it? Why settle for average results? Can anyone really over perform? If all you can focus on is getting the first rental house, how about buying the whole subdivision? What can it hurt by going big? Grant Cardone discusses the 10X principle in his book….why not 20x? Don’t limit yourself based on your lack of experience, it takes action to gain experience. By taking action you will make mistakes, making mistakes is a great way to learn. Having a coach or a mentor will help you avoid many of the costly mistakes. Your “why” determines how big you can take your goals…..the stronger the “why” the bigger your goals and actions should be. Never Assume – If you guess what someone else is thinking, or how they will react, you will be wrong often. If you want to know how someone will react, simply communicate with them. If you want to know the answer, ask the question. I have had numerous requests from listeners for coaching. I have decided to expand my coaching program by opening up the books again. If you have EVER considered getting involved in Real Estate Investing then perhaps you should take action NOW to contact me for more information. You can book a One Hour consultation with me by going to CashFlowGuys.com/Coach
The post 036 What I Learned in Puerto Rico Again first appeared on Cashflow Guys.
Working smarter not harder is the focus of this episode as Paige Panzarello of CashFlowChick.com and Tyler Sheff of CashFlowGuys.com discuss putting our money to work for us, instead of us working for it. Paige and Tyler have spent the last year or so building a team to acquire non performing notes and service them effectively for our investors. We take this opportunity to discuss a general overview of what exactly “notes” are, the ups and downs of the note investing business and how we can profit from “paper”. We buy notes at a significant discount….these are notes that are “non”performing” which means the borrower has stopped paying. The banks desire to sell these non paying notes at a discount to “clear their books”. Often we find that the banks have not even bothered to reach out to the borrower to find out why they are not paying. When we buy these notes, our team is able to reach out to the homeowners and often make arrangements to lower their loan costs or terms to allow them to start paying again. More often than not we can make arrangements with them that allow them to get their life on track and often remain in their home. The #1 most important element of investing in notes is the Due Diligence element. We have invested a great amount of time and focus on building the right combination of people needed to be sure our due diligence is effective and protects us from unnecessary loss. When working with investors, it is critical to be sure that we are extremely thorough in our research to protect our investor’s capital investment and future profits. In future episodes we will be digging deeper into the note investing arena and providing further insight into this mysterious yet highly profitable venture. Are you stuck as an investor and not sure what to invest in or what a good deal is? Are you overwhelmed at the educational options available to you in the marketplace? Would it help you to spend 30 minutes on the phone with Tyler in order for him to help you get “un-stuck” if so head on over to CashFlowGuys.com/AskTyler to book a free strategy session with Tyler to get on track today. Are you in the Tampa Bay Area? If so go to CashFlowGuys.com/events to register for our next free event.
The post 035 Cash Cow Note Investing Basics with Paige Panzarello first appeared on Cashflow Guys.
In this episode CashFlowGuy Tyler Sheff interviews another critical member of the Cash Flow Guys Team…introducing Kevin Overstreet of Insured Title Agency. Kevin and his team have been instrumental in helping Tyler and his team close countless transactions across the country of all shapes and sizes. One of the huge benefits of Insured Title team is that we don’t have to worry about the common pitfalls that other worry about because we are well protected by Insured Title when we close on real estate transactions. Investors and home buyers of all kinds often rush to buy foreclosure properties in hopes of getting a great deal by buying from the banks. In recent years, “HOA Foreclosures” have become popular due to buyers thinking they are getting a great deal. The problem is that in many cases these buyers do not take the time to perform a title search to uncover all liens or encumbrances against the title of a property. What we discovered is that when a homeowner gets behind on their bills, and the mortgage stops getting paid, the homeowner also stops paying the Homeowners Association Fees. The HOA’s (being more proactive than big banks) file foreclosure paperwork faster than banks and can ensure the get themselves paid before the main home loan foreclosures. To prevent being crushed by title issues on your next real estate purchase (anywhere in the United States)….call Insured Title and tell them that the “CashFlowGuys” sent you. They can answer any title related questions you may have and solve virtually any title related problems you will encounter. Kevin and his team can be reached at (813) 855-3585 or visit their website at www.insured-title.com The educational events that Kevin spoke of can be found at BABAevent.com
The post 034 Foreclosure Flipping Failures How To Avoid Them with Kevin Overstreet of Insured Title first appeared on Cashflow Guys.