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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Today’s guest is Jered Sturm, Co-Founder and CEO of SNS Capital Group. In this episode, we dive into navigating risk in real estate investing, taking the leap to grow your portfolio to hundreds of units, and mastering the art of efficient delegation. Tune in for insights and inspiration to elevate your investing journey!

Learn more about Jered and his story at creclarity.com!

“Doubling down, delayed gratification. That's a consistent narrative of our journey.”

01:00

Jered began his real estate journey 18 years ago as a maintenance technician. In 2008, he started acquiring distressed assets using the BRRRR method. Over the next decade, he scaled his business from single-family homes to properties with over 100 units. In 2016, he transitioned to syndication and has achieved significant success in the space.

“Results are what will attract money, and track record matters. It's not complicated, but it certainly isn't easy.”

09:00

Jered shares insights on how he navigates risk and makes strategic decisions for his business. He emphasizes using fixed-rate debt over bridge debt, as it aligns better with his business strategy. His approach focuses on making asymmetric bets, where the potential upside far outweighs the downside.

Jered also discusses how to take the leap into larger investments and scale your business effectively:

Continuously improve your skills by striving to be 1% better every day.
Document your processes and create detailed SOPs.
Delegate tasks effectively to free up time for strategic growth.
Establish clear KPIs, breaking them into three components: speed, quality, and quantity.
Maintain a well-defined org. chart, regardless of your company’s size.

32:00

At the end of the episode, Jered shares what excites him most about the next few years in real estate. He’s focused on growing his company and creating new opportunities for the team that helped him succeed. Over the next three years, his goals include expanding his portfolio to 4,000 units and refining their SOPs for even greater efficiency.

About our Guest, Jered Sturm

Jered Sturm, the Co-Founder and CEO of SNS Capital Group, a prominent multifamily investment firm based in Cincinnati, Ohio. With over 17 years of experience in the real estate industry, Jered has successfully transitioned from an apartment maintenance technician to a renowned multifamily owner/operator and syndicator, with an impressive portfolio exceeding $150 million in assets under management.

Jered's unique journey from the ground up, combined with his deep expertise in adding value and optimizing operations for long-term cash flow, offers a wealth of insights and actionable advice for your audience. His relatable narrative and hands-on approach to multifamily investment have made him a sought-after keynote speaker and a featured guest on several notable platforms, including the acclaimed BiggerPockets real estate podcast.

Mentioned in the show:

His LinkedIn
https://www.snscapitalgroup.com/
www.shineinsurance.com/
The REI Clarity Framework

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/

Special thanks to Jered Sturm for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Today’s guest is Jamie Goldenberg, the founder of Turn Prop LLC and creator of the Land Investing Club. In this episode, we unpack the essentials of land investing, breaking down its three key steps, exploring effective market strategies, and discussing the future of the industry. Join us and get inspired!

Learn more about Jamie and his story at creclarity.com!

01:00

Jamie began his career at a major finance company after graduating from college, but he always had an entrepreneurial spirit. In 2018, after moving to Chicago, he decided to try flipping houses. Unfortunately, that venture didn’t go as planned. By 2019, Jamie shifted gears, hired a land investment coach, and dove into land investing. Over the next four years, he built an impressive portfolio.

“If you find a good opportunity, don't be scared, get it under contract. You're going to find somebody to help you with it.”

06:00

Jamie breaks the land investing process into three key steps: search, spec, and sell.

First, he explains the search phase—how to find the right land. Jamie focuses on identifying areas with strong supply and demand for residential lots. He uses direct mail to reach out to potential sellers and often speaks with homeowners and realtors in the area to conduct market research.

Recently, Jamie has been exploring opportunities in commercial real estate as part of his land investing strategy. While he started with land flipping, he’s now connecting with developers to identify areas for potential CRE projects.

Finally, Jamie discusses the sell phase of the process. He highlights the importance of offering financing, as it enables buyers to afford higher prices, which can benefit both parties.

“One of the things that I love about this space is that there's so much flexibility, um, there's lands always going to be needed.“

30:00

At the end of the episode, Jamie shares his excitement about the future of commercial real estate. He appreciates the flexibility of the land investing industry and is eager to explore the many opportunities that lie ahead in CRE.

Mentioned in the show:

His LinkedIn
https://www.landforsaleco.com/
jamie@landforsaleco.com
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Jamie Goldenberg for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Today, our guest is Waikiki Paulino, the Chief Executive Officer of CRE Construction Partners. In this episode, we explore every phase of a development project—from due diligence and development to construction management and final asset disposition. We dive into building strong teams, ensuring project success, and why the pre-construction phase is often more critical than construction itself.

Learn more about Waikiki and his story at creclarity.com!

“It's not so much about stacking one brick over another or pouring concrete. It's really about understanding the mindset of the person who’s doing the work and the business owner.”

01:00

Waikiki developed an interest in ground-up development at a young age. At just 9 years old, he began working on project sites alongside his father. Later, he pursued a career as a carpenter and expanded his knowledge by studying commercial real estate, structural engineering architecture, and construction management, building a diverse skill set. Today, he has 26 years of experience in the real estate development industry.

“Invest in buying inspections through all of the design architects and engineers. They must be there. It gets expensive, but that is not a place to cut corners.”

05:00

Waikiki shares his ground-up development process, which he breaks down into four key phases: due diligence, development, construction management, and asset disposition. He emphasizes that after completing due diligence, the entitlement phase plays a critical role in a project’s success. During this stage, it’s crucial to assemble a strong team and establish early communication with the community.

The third phase, construction, begins with pre-construction activities. Waikiki’s team qualifies contractors to find the right team for the project, which significantly increases the potential for success in the construction phase.

Finally, Waikiki explains his approach to exiting a project. He highlights the importance of securing a new owner or tenant several months before the building is completed. He also recommends involving the property management team or new owner with the construction team early in the process to ensure a smooth transition.

40:00

At the end of the episode, Waikiki shares his insights on the future of commercial real estate. He notes that the industrial market remains strong, while office and mixed-use buildings face significant challenges in the current market. Despite these hurdles, he predicts substantial growth in the commercial real estate industry in the near future.

About our Guest, Waikiki Paulino

Waikiki Paulino has led the development and construction of large-scale commercial real estate projects for investors since 1998. He graduated from New York City Technical College with a degree in Structural Engineering and Architectural Studies. He earned his bachelor’s degree in Construction Management from Pratt Institute. He has also completed real estate masters’ courses at New York University. Mr. Paulino worked for several New York City based union and non-union CM firms such as F.J. Sciame Construction Co., Sordoni Construction and Tishman Construction / AECOM where he managed select high-profile projects as a senior manager in various markets. His extensive experience in multi-family, office and hotel high-rise development as well as retail, education and museum new construction and restoration, facilitates deal negotiations for owners. He successfully helped owners reposition assets during the market crash in 2008 and during the COVID-19 Pandemic. Mr. Paulino’s analytical background in engineering combined with his tolerance for high-stress high profile management at a fast pace has proven to be a solid foundation for opportunity evaluation, investment control and project team leadership. Mr. Paulino is committed to and motivated by helping solidify the investor’s purpose for wealth building, community enhancement, generational improvement, and legacy perpetuation.

Mentioned in the show:

His LinkedIn
www.creconstructionpartners.com
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Waikiki Paulino for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Matthias Wilson, a military veteran turned multifamily syndicator. In this episode, we discuss how Matthias made the leap from being an Air Force pilot to acquiring millions of dollars in real estate, the steps to transition from single-family to multifamily investing, and how to maximize the potential of a value-add property. Join us and get inspired!

Learn more about Matthias and his story at creclarity.com!

“The growth is just exponential now that I don't have the day job distracted me from my passion.”

01:00

Matthias began his career in the Air Force, where he flew C-130s for 14 years. He always had an interest in investing and bought his first 8-unit property in 2016, completing his first syndication the following year, in 2017. After experiencing significant success in real estate, he left the Air Force two years ago to fully dedicate his time and energy to his passion: real estate.

Matthias discusses the skills he gained in the military that have helped him in his real estate career. He learned discipline, how to be self-taught, and the importance of being a strong team player.

“I'm comfortable with the risks that I take, but I'm uncomfortable with taking risks with other people's money.”

10:00

Matthias emphasizes that the most important factors for a successful deal are proper due diligence and teamwork. For new investors, it’s crucial to build a team that includes experienced members to help establish the necessary processes.

Throughout his career, Matthias transitioned from single-family homes to syndications. He shares how his mindset shifted during this transition, particularly in how he approaches risk. When working with investors’ money, he is much more conservative in his risk assessments than when using his own. He observed a slowdown in the industry during 2022-2023, but by the end of 2024, he sees new opportunities emerging in the market that underwrite well. However, he notes that this window of opportunity may begin to close by the end of 2025.

“The best way to do value add is to know your market.”

32:45

At the end of the episode, Matthias explains how to get started in value-add multifamily investing. He prefers B-class properties. He emphasizes that the key is understanding the market and rental trends. He also highlights the importance of having a management team with the experience to execute your vision.

About our Guest, Matthias Wilson

Matthias bought his first investment home for $65,000. The next year, he purchased two more, and the following year, he acquired his first apartment complex. He soon recognized the power of building a network and a team. Since then, Matthias has raised over $5,000,000 in investor funds to acquire multifamily properties now valued at over $14,000,000. All of his investors are passive, meaning they build generational wealth while focusing on their own pursuits! Matthias now dedicates his time and energy to providing those same great returns and opportunities to as many investors as possible. He works with investors who can invest as little as $5,000, all the way up to multi-million dollar investments. If you're interested in learning more about his future opportunities, reach out to him to discuss your goals!

Mentioned in the show:

His LinkedIn
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Matthias Wilson for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Today’s guest is Tzvi Wiser, Senior LLC Specialist at NUCO Filings. In this episode, we explore the flexibility and structuring of LLCs in real estate, the compliance requirements they must meet, and the impact of the new Corporate Transparency Act. Tune in to stay informed about emerging trends in real estate!

Learn more about Tzvi and his story at creclarity.com!

“The big syndicators usually don't make mistakes because they got lawyers taking care of them. It's the beginers that often make the mistakes.”

01:00

Tzvi explored various career paths, from accounting to the high-tech industry, but during the pandemic, he found his niche in real estate LLC creation.

Tzvi discusses the best strategies for creating and structuring LLCs. He highlights that LLCs are generally more flexible than a typical LP, offering different classes of shares and various arrangements for profit sharing. However, the distinction between limited partners and general partners is not always clear.

One common strategy with LLCs is to place all the risk in a company with no assets. A recent trend for GP investors is to set up 3 LLCs: a management LLC, a GP LLC (from which they receive their extra share), and a third LLC for regular limited partner investors.

“The key with the operating agreements, is they all have the same sections and there's no right and wrong in any section. The question is, what works for you?”

17:30

Tzvi shares his insights on some of the most important documents GPs and LPs need to have in place to protect themselves in a deal. The most crucial document is the operating agreement, as it is the backbone of the LLC. It’s important to establish what works best for each partner.

Next, Tzvi covers compliance requirements for LLCs. There are two key things needed for most LLCs across different states:

A registered agent – Many people serve as their own registered agent, but if the LLC operates out of state, a filings company typically assumes this role.
Filing an annual (in some states biannual) report.

Tzvi also discusses the Corporate Transparency Act, which aims to track LLCs. Effective as of January 1st, 2024, this federal filing requirement can be challenging for those with multiple LLCs. To simplify the process, Tzvi recommends that all business owners obtain a FinCEN ID, which automatically updates any changes in LLC member information.

30:00

Toward the end of the conversation, Tzvi shares what he’s most excited about currently. He’s thrilled that the barrier to entry in real estate is lowering, especially with the rise of tokenization, which allows anyone to invest at any price point. However, he also expresses concern about increasing compliance regulations.

Finally, Tzvi leaves listeners with a key takeaway: People should focus more on listening to each other—listen to the message and not the messenger.

About our Guest, Tzvi Weiser

Tzvi is an 18-year member of the NYS Bar Association, with an MBA and accounting degree.

He is a 1031 exchange team leader at Nuco Filings. Nuco Filings is boutique entity formation and compliance firm. They will work with you hand in hand with urgency, speed and professionalism. They manage many large LLC portfolios for big players who rely on us to keep their entities in good standing and provide them with critical real time information, which often gets lost between the cracks.

Mentioned in the show:

His LinkedIn
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Tzvi Weiser for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Today, our guest is commercial real estate investor and developer, Omar Khan. In this insightful conversation, we explore Omar’s career path from investment banking to real estate investing and development, discuss various asset classes for investment, and delve into the specifics of one of his standout deals.

Learn more about Omar and his story at creclarity.com!

“If you don't work hard and you don't manage your affairs in a judicious manner, then everywhere in the world, you are going to run into trouble.“

01:20

Omar grew up in an entrepreneurial family with a strong background in commercial real estate. After working in investment banking, where he gained valuable knowledge about taxes, Omar focused on reducing his tax burden while ensuring financial security for his family. He approached his business with consistency and intelligence.

“If you have good partners with similar shared values, you can go much further in a much shorter period of time with way less effort.”

15:46 Omar shares his insights on limiting tax exposure, even with a W2 job. He recommends getting involved in tax-incentivized industries like oil and gas or real estate and emphasizes the importance of carefully managing your 401(k). As a business owner, he explains, it's easier to limit tax exposure by deferring taxes.

Omar looked into various real estate asset classes, including retail and industrial, but ultimately chose multifamily properties for their generous tax write-offs. He focuses on B and A-class properties. In 2020, he expanded his portfolio to include development, highlighting that strong partnerships were key to his success.

“In our line of work, success is not doing stupid things.”

31:51

He’s eager to grow his leadership team and expand their portfolio. Meanwhile, he keeps a close watch on the industry, making wise decisions in the challenging real estate landscape.

About our Guest, Omar Khan

Omar has advised on $3.7 billion in capital financing and M&A transactions, as well as securing $50+ million in equity from private and institutional capital. He is a graduate from the Rotman School of Business (University of Toronto), and a CFA charter holder with 10+ years of investing experience across real estate and commodities. As the principal of Boardwalk Wealth, Omar is primarily responsible for developing strong relationships with private and institutional investors, brokers, and strategic partners. He has closed on over $450 million of assets across TX, GA, FL, and SD.

Mentioned in the show:

His LinkedIn
https://www.boardwalkwealth.com/
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Omar Khan for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Today, our guest is Adam Knorr, a social media entrepreneur and ghostwriter for CRE firms and founders. In this episode, we dive deep into content creation on LinkedIn and how to do it right. In this episode, we dive deep into content creation on LinkedIn and discuss how to do it right. We cover the importance of niching down, being authentic and relevant on social media, and the role of AI in content creation—whether it's helping or hindering the process.

Learn more about Adam and his story at creclarity.com!

“Nitching is a really interesting and tricky conversation because that is the pushback you'll get from a lot of clients when advising them on their marketing.”

01:20

Adam started his business, CRE Digital, with two partners. Initially, they focused on ghostwriting in finance and real estate. Later, they specialized in LinkedIn ghostwriting for CRE companies.

Adam recommends niching down to a specific area, as it attracts the right clients and helps develop deeper expertise. While his company occasionally works with clients from different real estate sectors, that isn't their primary focus.

“Providing value on LinkedIn is providing your story through a lens that only you can tell.”

06:22

Adam shares insights on helping clients thrive in 2024 amidst the recent changes in the CRE industry.

It’s crucial to have a long-term strategy and consistently execute it, despite the constantly shifting market and algorithms.
Be consistent and authentic and provide value through storytelling over time to achieve success.

Adam also discusses how to create content on social media that converts clients.

AI tools are valuable when used correctly.
Study other content creators to understand what captures attention and why.
Comment on 20 LinkedIn posts a day to gain ideas for your own content.

“Everybody wants to write with AI and nobody wants to read AI.”

22:02

Regarding AI's impact on content writing, Adam believes AI is a valuable tool for brainstorming and editing, but it cannot replace content created by real humans. He notes that people are less likely to engage with content that is purely AI-written.

Finally, Adam shares one point of clarity with the listeners - Even if you don't see an immediate ROI from posting on LinkedIn, if you're interested, it will make you a better writer. So temper your expectations and be open to opportunities.

About our Guest, Adam Knorr

Adam is the Head of Content for CRE Digital. He’s a ghostwriter for real estate firms and founders.

Mentioned in the show:

His LinkedIn
https://www.credigital.io/
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Adam Knorr for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Today, our guest is Winnie Cherutoh, a real estate investment and sales consultant based in Nairobi, Kenya. In this conversation, we dive deep into the similarities and differences between the US and Kenyan real estate markets. We also discuss some fundamental principles for achieving success in sales. You don’t want to miss this episode!

Learn more about Winnie and her story at creclarity.com!

01:30

Winnie lives and invests primarily in Nairobi, Kenya. With a background in statistics, she became interested in real estate in her early twenties and has been in the industry for over 6 years. Her love of numbers has helped her become a prolific underwriter.

“Kenya is a ripe market for investment.”

06:48

Winnie discusses the Nairobian market, noting that while it is not as mature as some European or American markets, it has grown significantly over the last two decades. The Kenyan economy is growing at an average rate of 6% annually, and there is a housing shortage of around 200,000 apartments, creating many opportunities for investors. In the past couple of years, Winnie has observed an emphasis on experience-based housing in Nairobi, aimed at building communities with more amenities.

Winnie is also a sales consultant. She shares some fundamental principles for achieving success in sales:

Understand your field and the market you’re in.
Learn about communication and persuasion.
Adopt a consulting approach rather than solely a sales approach.
Be intentional. Know your "why" and help your clients move forward based on that.

“I'm looking forward to seeing Africa grow. I do feel it's an emerging market and I want to see how it grows in the future.”

21:14

Toward the end of the conversation, Winnie shares what she’s most excited about currently. She’s looking forward to the globalization of real estate and to seeing Africa grow.

Finally, Winnie shares one point of clarity with the listeners - Prioritize self-education. Learn as much as you can about the market that you want to invest in

About our Guest, Winnie Cherutoh

Winnie has been in real estate sales for over half a decade. She believes that real estate is fundamentally a relationship business and high-pressure selling is quickly dying. Winnie helps her clients to master a non-salesy effective technique that will help them close more sales and get more referrals.

Mentioned in the show:

Her LinkedIn
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Winnie Cherutoh for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Emma Powell, a real estate investor who achieved remarkable success. We'll dive deep into Emma's journey, exploring how she transformed her life – going from a stay-at-home mom of six to a multimillionaire in just five years. Discover the secrets to getting started in real estate investing and learn powerful strategies for building your path to financial freedom. Get ready to be inspired by Emma's story – tune in now!

Learn more about Emma and her story at creclarity.com!

“Managing a 10-unit building is very similar to managing 100-unit buildings.”

02:29

Emma transitioned from commercial and wedding photography to real estate investing, drawn by the industry's opportunities and path to financial freedom. She began by investing in duplexes and triplexes, before moving on to raising capital for larger 100-unit apartment buildings.

According to Emma, networking and collaborating with experienced professionals proved to be a key factor in her success.

“You should not get into the landlording business if you're only in it for the money. It should be because you love buildings, and the people who live and work in them, and you find construction, development, and all those things fascinating.”

18:30

Emma highlights that capital raising is a multi-step process, requiring patience and perseverance due to its time-consuming nature.

Emma shares how she achieved financial freedom. She balanced smaller, cash-flowing properties she owned directly with involvement in larger commercial deals. Once rental income matched their day job income, Emma and her husband quit their jobs, and eventually reached true financial freedom through the power of compounding.

“There's never a time when you don't wish you hadn’t started sooner.”

34:35

Toward the end of the conversation, Emma shares what she’s most excited about currently. She anticipates a demographic shift that will impact real estate investing. While acknowledging the challenge this presents, she’s also excited about the new opportunities it will create.

Finally, Emma shares one point of clarity with the listeners - The sooner you start, the sooner you will say you wish you'd started sooner.

About our Guest, Emma Powell

Emma went from stay-at-home mom of 6 to a multimillionaire in less than 5 years. In 2022, she hit a huge goal by retiring her husband early on real estate investing. She has partnered on almost 1,000 apartment units and sponsors a free commercial investing club to help other investors expand their portfolios.

As co-founder and president of Rise Capital Invesments, a boutique private debt and equity fund, Emma has raised several million dollars of capital for joint ventures and syndications. Emma hosts Passive Income Adventures Podcast with over 50 episodes, and has been featured on nearly 100 podcasts and has an easy to interview style

Mentioned in the show:

Her LinkedIn
Rise Capital Investments: Empowering Financial Growth through Real Estate
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Emma Powell for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Today, our guest is Alex Arenkill, a real estate developer at Enclave. In our conversation, we dive into the development process. We talk about Alex’s journey and the key steps in the industrial development process. Join us and get inspired.

Learn more about Alex and his story at creclarity.com!

01:00

Alex’s family were multifamily investors, so he grew up in the business. He explored various areas in the real estate industry but now focuses primarily on development and acquisition.

At 29 years old, Alex has already gained extensive experience in real estate. He attributes his success to finding mentors, continuous learning, and networking.

“The commercial real estate business is all about building and nurturing relationships.”

11:30

Alex is an industrial developer based in Chicago. His company, Enclave, manages $1.5 billion in assets. They primarily work with businesses ranging from Fortune 500 companies to the middle market.

Alex shares the key steps of the developer process:

Building a relationship with the client and submitting the RFP. Most tenants and tenant rep brokers prioritize timing, delivery dates, and cost.
Entering the entitlement phase, which involves understanding the general timeline and requirements for site plan approval.
After due diligence, constructing the suit and securing tenants ahead of time. Alex’s company typically works with tenants on 10-20 year leases.
Finally, asset management and property management take over the project with a triple net lease.

“Continue to treat people with respect and it'll eventually come back around to you and good things will happen.”

33:00

Toward the end of the conversation, Alex shares what he’s most excited about currently. He is hopeful that the feared recession will not occur and that the markets will stabilize.

Finally, Alex shares one point of clarity with the listeners - Treat others how you want to be treated.

About our Guest, Alex Arenkill

Alex works at Enclave Companies, which is an integrated real estate investment firm, providing development, construction, and management services for their long-term partners, investors, and clients. At Enclave, Alex leads the national industrial build-to-suit & acquisitions platform, primarily focusing on ground-up developments in the cold storage, manufacturing, and warehouse/distribution sectors. Some of their repeat clients include PepsiCo/Frito-Lay and several national middle-market firms.

To date, Enclave has successfully completed over $1.5 billion of investment real estate throughout the US, primarily across the industrial and multifamily asset classes. They also currently have a pipeline of an additional $400+ million of new development projects across the country.

Mentioned in the show:

His LinkedIn
https://www.enclavecompanies.com
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Alex Arenkill for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Sandhya Seshadri a syndicator and asset manager. In this episode, we delve into the intricacies of asset management. We explore Sandhya’s journey from the corporate world to real estate investing, key considerations for passive investors, and strategies for overcoming challenges while executing a business plan.

Learn more about Sandhya and her story at creclarity.com!

“You want to understand your team. You have millions of dollars of other people's money on the line depending on a motivated team on-site to execute for you.”

02:22

Sandhya built a successful corporate career in engineering as a project manager. Initially, she began investing in the stock market for tax advantages on capital gains. However, she quickly discovered that real estate offered a better path to diversification.

During her corporate career, Sandhya gained many valuable skills. She is comfortable with spreadsheets, making her a strong underwriter. Additionally, she learned how to manage large projects and think critically.

“If you have negative cash flow in your deal, recognize it, face it, and find a way to deal with it.”

09:33

At the beginning of her real estate journey, Sandhya chose passive investing in multifamily properties to learn. She emphasizes two critical factors for passive investors to screen: the sponsorship team and the location.

Currently, Sandhya focuses on asset management. She highlights the importance of collaboration between the underwriter and the asset manager, especially when it comes to the numbers. Asset managers should also always prioritize the investors.

Sandhya shares her insights on navigating challenges when executing a business plan:

Expenses are increasing across the board. Be conservative with your underwriting to ensure your deals remain net cash positive.
If you’re in a continuous negative cash flow, go onsite, address occupancy issues, and review all metrics to develop a plan.

At the end of the conversation, Sandhya shares one point of clarity with the listeners - Never give up, never surrender. There is always a path forward. Someone else has faced the same challenges you are facing.

About our Guest, Sandhya Seshadri

Sandhya is the founder of Engineered Capital.

While she worked in corporate, she saw firsthand how people dedicate so much of themselves to work, while simultaneously missing out on crucial opportunities to protect and grow their wealth.

That’s why she loves spreading knowledge about the power of passive investments in multifamily real estate.

You get to leverage her knowledge and experience in management, versatility, and metrics-focused investment decisions, so you too can do what it takes to take control of your financial future and build a legacy for your family.

Mentioned in the show:

Her LinkedIn
https://www.engineered-capital.com/
aceoperators.com
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Sandhya Seshadri for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Marc Kuhn, a titan in the world of real estate. Join us as Marc shares his journey into entrepreneurship, invaluable tips on building a strong brand, and strategies for scaling your business with stability and speed.

Learn more about Marc and his story at creclarity.com!

“Concrete's not going to wait for you. It creates some of the urgency that I think you need in business today.”

01:30

Marc's concrete career began at a young age - just 6 years old - working alongside his father. He gained numerous skills and by the time he reached 20, made the bold decision to expand the family business.

After 7 years of hard work, Marc realized the limitations of his approach. Seeking a more sustainable path he delved into the world of entrepreneurship. He read books, listened to podcasts and educated himself.

“There's marketing, there's sales, there's operations, there's all these different things within every business, but every business is the same once you see them.”

12:25

After learning about the industry, Marc focused on building a strong business. He implemented efficient systems and found the right people for the right seats. Recognizing his own visionary strengths, he sought a partner with operational expertise.

To scale his business, Marc slowly shifted his focus from concrete to general contracting. Around 2017, he invested in 20 units within a 70-unit townhome development in Las Vegas. By 2020, Marc had diversified his portfolio to include office spaces, land, and storage facilities.

Marc shares his insight on building a successful brand:

Consistency is key! If you struggle with it, build a team to help you.
Building a strong brand is an investment. Don't shy away from allocating resources to your brand image.

“Anytime you're in America, I think you can always say that: investment here is the best of anywhere.”

41:47

Toward the end of the conversation, Marc shares what he’s most excited about currently. He anticipates a future decrease in cost-to-debt ratios and a national housing shortage exceeding 3.2 million units, creating a potentially lucrative environment for developers.

Finally, Marc shares one point of clarity with the listeners - Get creative, find the solution. It'll be the best thing you ever do if you're starting it today.

About our Guest, Marc Kuhn

Marc Kuhn began his construction career with his Dad in 1994. He started at $1 per hour and received a $1 raise every year as he worked for his dad's construction company.

In 2010, Marc left his hourly job with $2,500 in his bank account.

He started his entrepreneurial path and opened MAK Construction, his first business. He has grown the construction company to over $25 million a year. They develop commercial projects both 3rd party and investment projects for their investors.

Since 2018, they have added over 200 units in the Midwest. The benefits of real estate have given him the freedom of time. His goal is to help investors reach financial freedom through real estate.

Today he owns and operates three successful companies that do eight figures a year.

Mentioned in the show:

His LinkedIn
https://marckuhn.substack.com/
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Marc Kuhn for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Today, we're joined by Natasha Falconi, a multifamily investor based in South Florida. In this episode, we delve into topics such as real estate taxes, women in the real estate industry, and strategies for transitioning into multifamily investing.

Learn more about Natasha and her story at creclarity.com!

“I believe that every generation should do better than the last.”

01:10

Natasha began her career as an accountant at a prominent firm. She was assigned to the real estate tax department, where she gained invaluable insights into investing. Eventually, she started working as a controller for a developer and after 18 years, she made the choice to delve into real estate investing independently.

“Estate planning and how you structure things should all come into play when you're growing a portfolio.”

04:10

Natasha shares some of her insights into real estate taxes.

Focus on proper estate planning - make sure to own your assets in LLCs instead of your personal name.
Depreciation is a key strategy to reduce your taxable income. By claiming depreciation on your properties, you can lower your tax burden.

Natasha currently owns a portfolio of 108 units across 7 properties. Her journey began in 2020 with a studio apartment in South Florida and her tenants predominantly consist of immigrant families. Natasha prioritizes location over property size when selecting investments.

A significant portion of Natasha's portfolio is syndicated. She is passionate about encouraging women to invest in real estate. With only 3% of women currently investing, she aims to bridge this gap.

“There are opportunities. It's just hard work but we need to do the work to grow the business.”

35:00

Toward the end of the conversation, Natasha shares what she’s most excited about currently. She’s excited to continue growing her portfolio, impacting the markets she’s in, and increasing the percentage of ladies who are investing with her.

Finally, Natasha shares one point of clarity with the listeners - Surround yourself with like-minded people.

About our Guest, Natasha Falconi

Natasha Falconi is the Founder of Falconi Capital, a real estate investment firm specializing in multifamily real estate with a focus on South Florida.

With a rigorous approach to sourcing properties – Natasha has created a business acquiring class B and C properties with existing cash flow and opportunities for value-add improvement. Natasha firmly believes you can create value for investors while uplifting the assets for the benefit of tenants and the greater community.

With decades of experience in a big 3 accounting firm, responsibilities as Controller and President of a national real estate investment & development company, and Chairwoman of a Florida-based community bank, Natasha keenly understands how investors determine value.

Natasha lives in Coral Gables with her husband Arthur and their two sons.

Mentioned in the show:

Her LinkedIn
www.falconi-capital.com
Her Instagram
Her X
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Natasha Falconi for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Gib Kerr, a commercial broker and the Managing Director of Cushman and Wakefield. In this episode, we dive deep into a special project: the revitalization of the West Bottoms in Kansas City. We discuss how Gib got involved in this massive project, what he learned along the way, and why he believes that urban cores around the country are here to stay. Join us!

Learn more about Gib and his story at creclarity.com!

“I was the one of the only brokers who really stuck around in downtown when everyone else was bailing out.”

01:00

Gib grew up in a CRE broker family in Kansas City. Following in his family's footsteps, he embarked on his own brokerage career over 30 years ago. Gib specializes in historic buildings and the urban landscape of Kansas City. He saw significant growth in the city's downtown area in recent years.

“Construction costs have gone up 40, 50% in the recent years and interest rates have doubled so it's a really challenging time for developers.”

08:19

Gib dives into a project he began in the 1980s: the West Bottoms district in Kansas City. As a broker, he played a key role in the area's development. Recently, through Cushman & Wakefield, Gib facilitated the sale of many of these buildings to a buyer focused on revitalizing the entire West Bottoms.

Gib shares some of the lessons he learned from this massive project.

Development-friendly local government is key: For large-scale projects, collaboration with a local government that offers incentives is crucial.
The rise of walkable urban areas: The trend of revitalizing urban areas with concentrated density and walkable environments is here to stay.

“Urban cores around the country are coming back and they're here to stay.”

32:00

Toward the end of the conversation, Gib shares what he’s most excited about currently. He draws a parallel between the present and the financial crisis of 2008-2010. With maturing loans exceeding $500 billion yearly, he anticipates a rise in distressed assets, potentially creating historically good buying opportunities for investors. However, he is concerned about the future of office buildings.

Finally, Gib shares one point of clarity with the listeners - the return to the urban core is a trend that will continue in the years to come, so be on the lookout for that!

About our Guest, Gib Kerr

Gib Kerr serves as the Managing Director for Cushman & Wakefield’s Kansas City office.

Gib leads the capital markets team in Kansas City specializing in investment property sales and urban development. Over the last ten years, Gib has brokered over $2.2 billion worth of new development projects in downtown Kansas City.

Prior to joining Cushman & Wakefield, Gib served as managing principal of Sperry Van Ness in Kansas City and as vice president of Tower Properties. Previously, Gib was a principal of Colliers Turley Martin/Kerr & Company and worked as an asset manager with Wachovia Bank in North Carolina overseeing a national portfolio of office and investment properties.

Mentioned in the show:

His LinkedIn
https://www.gibkerr.com/
https://www.cushmanwakefield.com/
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Gib Kerr for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Jenny Massey, the director of site selection and incentives at Sikich. Today, explore finding the best location for your business. We'll discuss the key factors to consider when choosing a location, along with strategies for leveraging government subsidies and the types of incentives available in different parts of the country.

Learn more about Jenny and her story at creclarity.com!

“Location is everything so you have to choose the best location for your company.”

01:00

At the beginning of the conversation, Jenny shares her top considerations for businesses searching for the perfect location.

Location is everything: It's a cliché for a reason! Finding the right spot is crucial.
Workforce and quality of life.
Logistics: Access to highways and railways keeps the business moving.
Low barriers to market entry.

“Every state has different programs, rules, and regulations. The only constant in this industry is change.”

08:30

Jenny shares that non-retail companies expanding with more than 15 new jobs, capital investment, or additional square footage may qualify for incentives!

Some states and cities are more generous than others. Cities often offer real and personal property tax abatements, tax increment financing, or low-cost/low-interest loans. States might have refundable job creation tax credits, investment tax credits, or even infrastructure grants to help with site preparation costs.

“We're going to see a bunch of suppliers coming in and setting up space in the upcoming years, so if you’re a landowner, get ready!”

28:48

Toward the end of the conversation, Jenny shares what she’s most excited about currently. She sees a positive shift in site selection. Communities are increasingly prioritizing attracting sustainable and environmentally friendly businesses. However, she also raises a concern about potential job losses due to technological innovations.

Finally, Jenny shares one point of clarity with the listeners - Keep an open mind to possibilities.

About our Guest, Jenny Massey

Jenny Massey is the director of site selection and incentives at Sikich, a leading professional services firm that helps clients achieve their goals across various industries and sectors. She holds the prestigious Counselor of Real Estate (CRE) credential, which recognizes her as one of the top experts in real estate consulting and advisory.

With over 20 years of experience in site selection and incentives, Jenny helps companies of all sizes and stages find the best locations and secure the most beneficial incentives for their relocation and expansion projects. She has a proven track record of delivering successful outcomes for clients across technology, aerospace, logistics, life sciences, professional services, advanced manufacturing and agriculture industries. She also contributes to Forbes Business Council as a member and author of articles on site selection and incentives topics.

Jenny is passionate about innovation, sustainability, and intercultural communication. She has completed studies in entrepreneurship, psychology, and crowdfunding at the Wharton School and HEC Paris, and has lived and worked in Japan for seven years and is classically trained as an archaeologist. She enjoys beekeeping, sailing and traveling in her spare time.

Mentioned in the show:

Her LinkedIn
https://www.sikich.com/
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Jenny Massey for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Nicholas Abraham, a multifamily real estate investor. In our conversation, you’ll discover the top 5 metrics every passive investor needs to know, proven acquisition strategies for finding winning deals, and insights into the current real estate market and upcoming opportunities. Tune in now!

Learn more about Nicholas and his story at creclarity.com!

“Real estate has always been a tried and true investment vehicle.”

01:01

Nicholas began his career in finance in 2009. However, he quickly discovered that real estate was the true recession-resistant asset class. This led him to transition into the real estate field.

Nicholas dives into his approach to evaluating real estate deals in the current market. He recommends looking for deals with good cash flow and fixed-rate debt in markets with steady job growth.

“I tell all my investing partners, I'm not here to transact with you I'm here to build a relationship. This is a long-term business.“

13:00

Nicholas shares the top 5 metrics crucial for passive real estate investors.

Cash-on cash: This metric focuses on the annual cash flow you receive relative to your initial investment.
Price per door relative to the market: This compares the price per unit (door) of the property to similar properties in the market.
Cap-rate: This metric is the NOI divided by the purchase price. Aim for a positive cap rate to avoid negative leverage.
Risk-adjusted returns: This considers both the potential return and the level of risk involved in the investment.
Yield on cost: Often overlooked, YOC factors in the renovation costs, providing a more comprehensive picture of your return on investment.

Nicholas points out that IRR shouldn't be the sole focus, as it can be manipulated by factors outside the investment's core performance.

Nicholas’ firm is operating with the “2 and 20” method for acquisition fees. This translates to a 2% initial fee for investors, along with a 20% share of the profits once the property is sold. Acquisition fees typically range from 0.1% to 5%, depending on the deal size.

“There's trillions of dollars sitting in money market accounts right now.”

35:25

Toward the end of the conversation, Nicholas shares what he’s most excited about currently. He’s looking forward to decreasing interest rates. Ge believes this could create new opportunities for investors due to a lot of capital currently available in the market.

Finally, Nicholas shares one point of clarity with the listeners - Diversify your income streams to achieve financial freedom.

About our Guest, Nicholas Abraham

Nicholas Abraham is a real estate investor passionate about financial education and creating passive income through multifamily properties. Originally from Columbus, Ohio, he has a background in Economics & Finance and currently resides in Charlotte, North Carolina.

Nicholas' interest in personal finance began at a young age and his diverse career path has included working for Fortune 500 companies, growing a solar startup to significant revenue, and flipping houses. After a hurricane-impacted his business, he transitioned full-time into real estate, focusing on multifamily investments.

Nicholas leverages his experience to educate others on the benefits of real estate and partners with them to acquire cash-flowing apartment buildings. By renovating these properties, he aims to increase tenant satisfaction and generate stronger rental income.

Mentioned in the show:

His LinkedIn
https://sterlingwealthcap.com/
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Nicholas Abraham for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Jorge Abreu, multifamily investor with a portfolio across Texas and the Midwest. In this episode, we dive into navigating today's CRE market, transitioning from C-class to A-class properties, and how to syndicate the right way in 2024.

Learn more about Jorge and his story at creclarity.com!

“There is the age of the property and then the location. So you could have a C class property in a B or A location.“

01:00

Jorge began his real estate career by investing in value-add, C-class multifamily properties, eventually transitioning to higher-quality A-class assets. Now he manages thousands of properties.

According to him, it’s more risky to operate C-class properties because of the tenant base and a lot of deferred maintenance. In contrast, A-class properties offer a lower risk profile due to their higher quality and reduced maintenance requirements.

“When your investors are caught off guard when they think the property is running fine, that's the worst thing.“

08:54

Jorge is doing many syndications with passive investors. He recommends focusing on safer deals with good cash flow from the start and a solid return in 5 to 7 years instead of chasing high returns in risky 3-year deals.

Jorge shares how he’s navigating the current real estate market.

He spends a lot of time in operations and pushing the NOI to make up for the current high expenses and interest rates.
He brought property management in-house.
He’s making sure to keep open communication with his investors.

“I'm kind of looking forward to this down part of the market, because there are many opportunities for those that are good at acquisitions, hunting for deals, and negotiating.”

21:05

Toward the end of the conversation, Jorge shares what he’s most excited about in the industry currently. While acknowledging concerns about uncontrollable expenses like insurance and property taxes, he also expresses excitement about a potential market downturn. He sees many opportunities in it.

Finally, Jorge shares one point of clarity with the listeners - if there's an issue in one of your deals, tackle it head-on, go after it, and get it done.

About our Guest, Jorge Abreu

Jorge Abreu has been Investing in Real Estate for over 16 years now. He started in Single Family, small Multifamily properties and eventually worked his way up to large 100+ Unit Multifamily properties. Jorge has wholesaled over 250+ Single Family Properties. Fixed & Flipped over 200+ SF. Developed and completed several new development projects, over $40 Million in ground up construction.

He also started and built a Construction Company bringing in over $30+ Million in yearly revenue & growing. He is now an Active & Passive Full Time Multifamily Real Estate Investor. Jorge and his company Elevate combined have acquired 7,737 Multifamily Units as the main Deal Sponsors. He has gone full cycle and exited out of 1,608 of those units and currently has $550M+ in Assets Under Management.

Jorge is the CEO of Elevate Commercial Investment Group and JNT Construction. JNT Construction focuses on helping Multifamily Investors with their Due Diligence & Full renovations. He has also now launched an in house management company, Elevate Real Estate Management, which makes him completely vertically integrated. He also runs a Multifamily Coaching program where he helps others grow their Multifamily Real Estate portfolio.

He is based out of Dallas & currently owns properties in Texas, Oklahoma, Georgia, South Carolina, Florida, Arkansas and South Dakota but is open to other areas as well. Strong points are Locating Deals, Due Diligence, Executing CapEx, New Development & Raising Equity

Mentioned in the show:

His LinkedIn
https://elevatecig.com/
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Jorge Abreu for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. In today’s episode, we dive deep into passive investing with Christopher Price, founder of Red Fox Multifamily. We learn about how to get started as a passive investor, what questions to ask from an operator, and how to evaluate a deal. Join us and start your passive investing journey today!

Learn more about Christopher and his story at creclarity.com!

“I'm a pharmaceutical executive by day, but a real estate investor by night.”

01:00

Christopher worked as a pharmaceutical executive for 20 years. He then transitioned into real estate investing and currently manages to juggle both successfully.

His investment journey began by renting out his own condo. This made him realize that passive investing could be the key to diversifying his portfolio and building long-term wealth.

“One of the things that was fundamentally important to us was to focus on recession-resistant asset classes.”

07:00

With financial freedom as his ultimate goal, Christopher turned to multifamily syndications, known to be recession-resistant assets. To educate himself, he read books, listened to podcasts, and connected with industry professionals.

Christopher shares key questions to ask operators before investing:

Does the operator have experience in your target market?
How's their track record? Get to know their team as well.

Christopher shares his insights on becoming a successful passive investor, even with limited real estate knowledge:

Invest in yourself and educate yourself about the industry.
Diversification is key. Don't put all your eggs in one basket.

“We're somewhere between 2 and 5 million housing units short in this country.”

36:51

Toward the end of the conversation, Christopher shares what he’s most excited about currently. He’s eager to educate more people about passive investing. He believes this can play a role in easing the current housing shortage. However, rising interest rates do concern him.

Finally, Christopher shares one point of clarity with the listeners - Get educated!

About our Guest, Christopher Price

Chris Price is an award-winning corporate professional, pharmaceutical executive, and leader with over 20 years of business operations experience in the life sciences industry. In addition to helping patients receive life-saving medications at a top 15 pharmaceutical company, Chris is the CEO and Co-Founder of Red Fox Multifamily, a real estate investment company aimed at providing life science industry professionals with hands-off commercial real estate investment opportunities to recession-proof their retirements. Chris is an accredited real estate investor and entrepreneur since 2012, with investments today in real estate syndications, funds, single-family, and land. Chris is also the Host of the 1,030 member plus Wealth Mindset & Real Estate Investing virtual Meetup.

Today, Chris has invested in over 1266 commercial multifamily units and counting, with investments over $32.5M Assets Under Management (AUM) in real estate syndications, single-family, and land as both a Limited Partner, General Partner, and Fund Manager across Texas, Georgia, North Carolina, Alabama, and Pennsylvania. Chris is using his years of leadership experience in corporate America, educational, and team-sports background to help others build wealth with passive real estate investment opportunities in strategic markets throughout the country.

Mentioned in the show:

His LinkedIn
https://www.redfoxmultifamily.com/
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Christopher Price for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Vessi Kapoulian, real estate investor and the founder of Dream Believe Achieve Capital Group. In our conversation, we dive into how to build solid relationships with lenders, Vessi’s top underwriting tips, and strategies for finding decent deals in today’s tough CRE market. Join us!

Learn more about Vessi and her story at creclarity.com!

“Anytime I approach a new project or occupation, I always want to find purpose.”

01:00

Vessi started her career in commercial lending and transitioned to commercial real estate investing in 2017. She made the transition by educating herself and building connections in the industry.

“Transparency and open communication are key.”

11:02 Vessi shares her insights on building strong relationships with lenders as an investor.

Be transparent. The lender is trying to evaluate the risk profile, so share your and your partners’ track records.
Be aware that some of the smaller lenders have lending limits that you might hit over time.
Make sure that the lender is also open and honest with you.

Vessi is very passionate about underwriting. She outlines her tried-and-tested underwriting tips to find decent deals in today’s tough CRE market.

Partner with experienced operators with a good track record.
Study your target market.
Analyze 5 key deal aspects:
Projected rent growth
Volatile expenses
Adequate reserves
Downside protection
Optimal debt structure

“Stay true to yourself and your criteria. Maybe that means you're growing a little bit slower but I like to think slow and steady wins the race.”

33:14

Toward the end of the conversation, Vessi shares what she’s most excited about currently. She took on entrepreneurship because she’s looking forward to more time freedom and flexibility.

Finally, Vessi shares one point of clarity with the listeners - be clear on your ultimate “why”!

About our Guest, Vessi Kapoulian

Vessi Kapoulian is the Founder of Dream Believe Achieve Capital Group, a real estate investment company based in Los Angeles, CA.

Vessi helps busy professionals who are tired of working 60+ hours a week create passive income streams to reach their goal of leaving a legacy for their families, diversifying their investments from the stock market, and achieving tax efficiencies.

Vessi’s professional background includes 15 years of commercial lending and 4 years of business management experience. Vessi started her real estate journey as an investor in 2017. Today Vessi manages a portfolio of investor real estate properties in Florida, Tennessee, and Georgia (415 doors, 12 properties, $44MM AUM). She is also passively invested in 5 other deals (405 doors in multifamily plus other CRE asset classes).

Vessi’s mission is to help others attain their own financial freedom while at the same time providing a clean, safe, and pleasant home environment for residents and improving the local communities she invests in.

Mentioned in the show:

Her LinkedIn
https://dbacapitalgroup.com/
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Vessi Kapoulian for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Today, we deep into the world of high-level asset management with our guest, Scott Jolly, founder of Site Consulting Specialists. You'll learn Scott's 3-step renovation process, discover tips for finding top-notch contractors, and gain insights into extending the life of your properties through proper maintenance. Learn more about Scott and his story at creclarity.com!

“I've been in construction since I was about 12 years old.”

01:00

Scott's journey in construction began at a young age, starting at 12 through his grandfather's business. He took the entrepreneurial leap in 2008 by founding his first company, focusing on residential remodels and development. In 2010, he transitioned to working for a commercial paving and concrete company

Scott started working in construction at age 12 through his grandfather’s business. He started his first company in 2008 focusing on residential remodels and development, then worked for a commercial paving and concrete company in 2010.

Over the years, Scott has built an impressive portfolio. Currently, his company, Site Consulting Specialist is doing roofing and paving projects for larger apartment complexes.

“We're always looking for companies that self-perform the work because we want to have a little bit tighter grip on what's happening”

05:30

According to Scott, most properties need significant renovations every 20-30 years. He shares his 3 step renovation process.

Evaluation: Scott's company assesses the property's condition and understands the client's asset strategy to determine a budget.
Procurement: Once they have a clear scope of work, they prepare bid packages and qualify contractors.
Construction or Project Management: Finally, they create a detailed schedule and collaborate with tenants to minimize disruption during the renovation.

“Curiosity is the single best tool anyone can have in the tool belt.”

30:45

Toward the end of the conversation, Scott shares what he’s most excited about in the construction industry currently. He's particularly enthusiastic about innovative new products hitting the market. For example, the private sector is seeing the introduction of reinforced asphalt in paving – a material that's both 100% recyclable and highly durable. However, Scott is concerned about the permitting processes that could add unnecessary costs and delays to construction projects.

Finally, Scott shares one point of clarity with the listeners - be curious and don’t be afraid to ask questions!

About our Guest, Scott Jolly

Scott’s entire career has been in real estate and construction. As an investor, he understands the impact capital expenditures can have on ROI. SCS was a brainchild of combining his real estate experience with his concrete and paving experience to create massive savings for large portfolio owners.

Mentioned in the show:

His LinkedIn
https://siteconsultingspecialists.com/
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Scott Jolly for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Micah Walje, a project developer, with more than 20 years of construction experience. In our conversation, we'll explore the best ways to resolve weather damage in your properties, how to find the right contractors for your deals, and why networking is key to building a successful business.

Learn more about Micah and his story at creclarity.com!

“The only way I would hire an out-of-town person to do my claim or repair is if they were working in conjunction or partnership with a local contractor.“

03:28

Micah has more than 20 years of construction experience. At the beginning of the conversation, he shares his best piece of advice on how to get weather damage resolved correctly.

Don't start any work until everyone agrees! This means getting written estimates from both your contractor and your insurance company. These estimates should detail the scope of work, dollar value, and what will be covered by insurance.
Hire local contractors to ensure that the work is done on time and that you can follow up with them later if needed.

“If you don't have a good reputation for paying your trades or your subcontractors, that says a lot about all the other operational components of your business.”

09:30

Micah started his career in residential construction, then he shifted toward tenant improvement work, construction, defect repair, CapEx, and deferred maintenance.

Micah shares the key elements property owners and developers should consider when hiring contractors.

Their financial capability and bonding stability.
Their transparency in the estimating process.
If they had previous legal issues and how they got resolved.

Micah’s advice for a successful development project is to always work with a team with experience in the building type you’re developing.

“You can have everything in life you want if you will just help other people get what they want.”

22:00

Micah is an excellent networker. He enjoys listening to people and connect them. He explains why building trust is crucial in business. People won’t hire you for a bigger project unless they know, like, and trust you, and understand your process.

Toward the end of the conversation, Micah shares what he’s most excited about in his business currently. He’s eager to scale and expand his company to new markets. However, he's also keeping an eye on the housing shortage and multifamily mortgage situation.

Finally, Micah shares one point of clarity with the listeners - practice servant leadership; put others before yourself and go out of your way to help somebody anytime you can, without an expectation of return.

About our Guest, Micah Walje

Micah Walje is the project development manager for Ronco Construction headquartered in Omaha, Neb. Based out of the Kansas City, Mo. office, Walje focuses on business development, assisting preconstruction and project management for opportunities in the Kansas City metro market. Walje has more than 20 years of construction experience, with expertise in managing projects, leading business development efforts, and ensuring customer satisfaction through superior service and communication.

Mentioned in the show:

His LinkedIn
His Instagram
www.contractorsclosersconnections.com
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Special thanks to Micah Walje for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Tammy Sutton, a managing partner of Quattro Capital. In this episode, we discuss navigating the current multifamily market, building high-performing GP teams, and the surprising power of philanthropy in real estate. You don’t want to miss out on this conversation!

Learn more about Tammy and her story at creclarity.com!

“It's really easy to drop balls if you don't have all the hats in place in your business.”

01:01

Growing up in a second-generation real estate family, Tammy was exposed to the world of single-family investing from a young age. However, she worked as a teacher until 2019 when her career path took a turn. She transitioned into the family business, taking over the single-family operations from her sister.

In 2020, Tammy made another exciting move, venturing into multifamily investing. This led to her becoming the managing partner at Quattro Capital. She explains that the company is thriving because of the strong team they built and how this resulted in managing an impressive nearly $200M portfolio.

“One of the hardest things when you are getting started is raising that capital,”

12:30

Tammy shares her insight on how to get into the commercial real estate world without capital. Quattro Capital collaborates with aspiring investors who have a good deal but don’t have the right team yet. Finding a good deal is often the best way to break into the industry and build your knowledge base.

According to Tammy, the multifamily industry experienced a period of significant growth between 2020 and 2022. However, in 2024, the focus has shifted towards protecting assets and the investors’ money. She shares how rising insurance costs and renovation expenses are impacting business plans. Despite the challenges, she has optimism for the future.

“The philanthropy side of Quattro Capital is truly what motivates us to keep doing well.”

24:35

Tammy is a philanthropist. Her company established the Quattro Giving Fund which supports causes like veteran housing, human trafficking initiatives, foster care programs, and shelter and housing solutions. They are working with different organizations through donations from their investors.

Toward the end of the conversation, Tammy shares what she’s most excited about in the industry currently. She anticipates a return to normalcy with interest rates, which will create more opportunities in real estate investing.

Finally, Tammy shares one point of clarity with the listeners - Real estate's a long game. Quit worrying about the right now. Navigate through the waters, there is a horizon out there and that's your end game.

About our Guest, Tammy Sutton

Tammy Sutton serves as a Managing Partner at Quattro Capital, overseeing Transitions and Operations.

Renowned for her organized, positive, and responsive nature, Tammy navigates the diverse personalities within operations with an adept and authentic touch. Her exceptional multitasking skills and creative vision contribute significantly to Quattro Capital's marketing needs. Moreover, Tammy's passion for multifamily investing and commitment to improving living environments for families and communities seamlessly align with Quattro's ethos. Her unparalleled mastery of operations truly embodies the essence of a master conductor, which has earned her the nickname 'The Maestro'.

Mentioned in the show:

Her LinkedIn
https://www.thequattroway.com/
www.shineinsurance.com/
The REI Clarity Framework

Special thanks to Tammy Sutton for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is developer extraordinaire, Alex Sanders. This conversation dives deep into the 7 essential steps of CRE development, guiding you through each stage from finding the perfect location to exiting the project successfully. Whether you're a seasoned investor or just starting out, this episode is packed with valuable insights to help you navigate the world of CRE development!

Learn more about Alex and his story at creclarity.com!

“Being a mentor doesn't mean that they're geniuses or professionals in their fields. The big part is that they can help you to build up your confidence.”

01:00

Alex’s parents were residential real estate agents, but he knew from an early age that he wanted to do something different. He started his career as a CRE broker and eventually chose development as his career. According to Alex, the biggest help in his career were his mentors and he recommends working with one to everyone.

“Always be open to learning. Listen to everybody, but choose what advice you actually want to implement.”

09:00

Alex dives into the 7 key steps of CRE development and how to do them right.

Site search. The first step is crucial – identifying the right asset class for the specific site. This is a great starting point for new developers, as it sets the stage for the entire project.
Entitlement. The key to overcoming common zoning hurdles is thorough research and building strong relationships with local authorities.
Designing. Work with local architects and design teams as they have market knowledge and local connections.
Financing. Align yourself with an equity partner who shares your vision for the project.
Final approvals. This stage involves securing site plan approvals, project approvals, and permit approvals from the city.
Construction. Ensure everything runs smoothly by working closely with the construction team and clearly outlining the project timeline in the contract. Having a solid insurance plan helps mitigate unexpected delays.
Exit. Many options exist for exiting the deal, including presales, waiting a few years for the property to stabilize, or long-term hold. They are increasingly more risky.

“Good developers are able to be a visionary, be persistent, and know the market.”

37:45

Toward the end of the conversation, Alex shares what he’s most excited about in the CRE world right now. He’s looking forward to the future of the Nashville market and highlights its stability due to steady population growth. However, he is concerned that deals might get harder to do requiring greater creativity from investors.

Finally, Alex shares one point of clarity with the listeners - If development is something that you feel passionate about then surround yourself with a good team that can help you succeed.

About our Guest, Alex Sanders

As a Development Executive at Mortenson, Alex Sanders leverages his extensive knowledge and experience in real estate, investment, and development to create exceptional projects that embody financial prudence, long-term sustainability, and an enhanced quality of life for individuals. He has been involved in the development and sale of real estate across various sectors and markets, including life science, healthcare, industrial, manufacturing, multi-family, student housing, hospitality, sports-anchored mixed-use developments, and developer-led public-private partnerships.

His ultimate goal is to drive transformative change within communities by spearheading initiatives that foster lasting positive impacts. Alex is dedicated to delivering exceptional customer experiences and generating innovative solutions that positively shape neighborhoods and communities. He brings expertise, leadership, and collaboration to the table, ensuring that each project demonstrates financial responsibility, long-lasting durability, and adds significant value to the lives of people. He is proud to be part of Mortenson, a top-20 builder, developer, and provider of energy and engineering services that is committed to helping organizations move their strategies forward.

Mentioned in the show:

His LinkedIn
His Email
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Special thanks to Alex Sanders for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Venkat Avasarala value-add multifamily investor turned CRE developer. In our conversation, we delve into why development is the current hot spot in REI, explore what to look out for when investing in multifamily, and discuss the importance of monitoring the money supply.

Learn more about Venkat and his story at creclarity.com!

“The one thing every investor should know is to watch the money supply.”

01:18

Venkat began his professional journey in the finance world in 2002. However, his interest shifted towards real estate, leading him to purchase his first 20-unit rental property in Dallas back in 2016. In 2018, he was able to leave his corporate job and pursue real estate investing full-time. His background in finance has helped him to become a developer for large properties valued at over $400 million.

Venkat talks about the importance of monitoring the money supply. He explains that fluctuations in the money supply can influence buying patterns and available resources in the market. He points out the impact of money printing post-pandemic, and how inflation has risen faster than wage growth, putting a strain on affordability.

“Pay attention to who you are serving. If you don’t understand your tenant, you cannot be successful.”

10:45

Venkat started investing in value-add multifamily properties in 2016, However, he transitioned to development in 2021 after exiting the multifamily market altogether. According to him, the landscape had shifted, making success more challenging. Despite his shift in focus, Venkat shares his insights on still finding success in real estate.

Learn about historical trends to anticipate future market changes.
Understand your tenant. Pay close attention to your tenants' spending habits and lifestyle preferences to be able to make informed rent projections for the coming years.
Find your niche. Identifying a niche market allows you to cater to a specific tenant demographic.

“You don't need to know everything. You just need to find people who know what you are missing and who are good at it.”

24:13

Venkat shares his advice on how to get into the development space.

Build your network. Connect with experienced and successful developers and bring them onto your team to leverage their expertise.
Learn to manage the risk. Always raise money conservatively and have solid underwriting.

Toward the end of the conversation, Venkat shares what he’s most excited about in the CRE world right now. He anticipates a decrease in construction costs within the coming years in the Sunbelt states.

Finally, Venkat shares one point of clarity with the listeners. Always watch the money supply!

About our Guest, Venkat Avasarala

After witnessing fellow employees’ deep despair caused by mass layoffs at “dependable” corporations, Venkat promised himself he’d never be fully dependent upon a W2 again.

It’s easy for hard-working, intelligent people to accidentally become reliant on their paycheck and miss opportunities to protect and grow their wealth.

That’s why Venkat loves sharing about multifamily real estate investments.

Since he discovered the lucrative power of commercial real estate, Venkat has become passionate about spreading the word, so others too can protect their hard-earned savings and take action toward building sustainable wealth.

Mentioned in the show:

https://strykerproperties.com/
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Special thanks to Venkat Avasarala for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest today is Joseph Cornwell, multifamily investor and the host of the Best Ever Podcast. In our conversation, we talk about Joseph's transition from law enforcement to real estate investing, strategies for scaling a multifamily business, and tips for finding the right people for your business and stepping into a leadership role. Don’t miss this episode!

Learn more about Joseph and his story at creclarity.com!

“Real estate at the end of the day is a people business. If you understand the people part, you can have success in any area of real estate.”

01:00

Joseph started his career as a police officer in Cincinnati. After working 5 years, he realized that he wanted something different in life and found his passion in real estate investing. His law enforcement background equipped him with many interpersonal skills, such as conflict resolution and understanding people's motivations, which have been useful in the real estate field.

As his real estate business grew, Joseph recognized the need to build and manage a team. He focused on creating strong and scalable systems, so his employees always have clear instructions and understand their roles.

“You're never going to find someone who cares about your business as much as you do. And if you do, that's a problem, because it's your business.”

17:30

Joseph shares the key steps for transitioning from working in your business to managing it:

Define your goals: Identify what truly fulfills you. Do you want to be personally involved in daily tasks, or scale your business?
Find a scaling strategy: Discover alternative ways to add value to your company while delegating operational tasks.
Find the right people and trust them with the right responsibilities. It’s a number’s game, so you will have to hire and fire people before you find the right ones for your goals.
Build your team: Find the right people and trust them with the right responsibilities. Be prepared to hire and fire people often before you find the right ones for your goals.

“The Midwest is a “get rich slow” type of investment, and I think that's a lot safer and reliable.”

24:23

Toward the end of the conversation, Joseph shares what he’s most excited about in the CRE world right now. He sees a revitalization in the Midwest markets as many millennials move to the suburbs. It’s a stable and growing market without significant ebbs and flows and rents are steadily increasing.

Finally, Joseph shares one point of clarity with the listeners. You have to be consistent in everything you're doing. Once you have some foundation, don’t be afraid to expand markets, locations, and asset types.

About our Guest, Joseph Cornwell

Joseph Cornwell has lived near Cincinnati, Ohio his entire life. He is a host on the BEST EVER CRE podcast and is actively seeking to acquire single and multi-family rental properties. As a real estate agent, he works with investor clients and also owns and operates a general contracting company in Cincinnati, Ohio, specializing in large renovation projects for other investors.

Joseph has successfully flipped one home and currently owns 125 units across 15 properties. He possesses extensive experience in buy-and-hold real estate, creative financing, and has executed deals ranging from 1 to 99 units. Holding a license as a Real Estate Agent in Ohio, he has facilitated numerous commercial and residential transactions for clients, overseeing the purchase and sale of hundreds of investment properties over the past 7 years. Additionally, Joseph has managed millions of dollars' worth of large renovation projects, both within his own portfolio and for other clients.

Mentioned in the show:

His Facebook
His Instagram
His LinkedIn
Best Ever Podcast
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Special thanks to Joseph Cornwell for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Joining us today is Tom McCrossin, an industrial and warehouse investor and owner of New Lane Management. We'll be diving into the world of industrial investing, discussing how to get started, finding the perfect property, and why it's a hot market in 2024.

Learn more about Tom and his story at creclarity.com!

“A lot of people think that all big buildings are manufacturing, but that’s not necessarily true.”

01:00

Tom started his investing journey in 2010 by househacking. He rented out half of his duplex. By 2020, he saw new potential and transitioned to acquiring industrial buildings and warehouses.

The industrial real estate asset class covers a diverse range of properties, each with its own purpose.

Warehouses and distribution buildings: Logistics hubs storing goods before export or distribution.
Manufacturing buildings: These are where industrial work and manufacturing take place.
Flex spaces: The perfect blend, offering smaller warehouse spaces with integrated office areas for increased functionality.

Industrial buildings typically stand tall, with ceilings ranging from 15-17 feet, reaching up to 35 feet!

“In multifamily, you look at the dollar amount per door. In industrial we look at square footage.”

10:22

Tom built a strong relationship with commercial brokers who are helping him find the right building and suitable tenants.

Tom shares his preference for industrial investing over multifamily.

He enjoys collaborating with like-minded business owners, fostering a sense of shared purpose.
The tenants handle maintenance, simplifying the operation for him.
He sees a rising trend of manufacturers relocating to the Midwest, creating new investment opportunities.

“As you go into these bigger deals, you got to have multiple ways that you want to get out if it starts to go South.”

20:23

Tom calls himself the “Junior Warehouse Flipper”. He shares a risky deal that netted him a 185% return in just 7 months.

Tom’s recommendation for new industrial investors is to partner with someone who’s already successfully done a deal. It’s also important to familiarize yourself with the lease language as it’s very different from residential real estate.

Towards the end of the conversation, Tom shares what he’s most excited about in the CRE world right now. While he anticipates a stabilizing CRE market in 2024, he expresses concerns about potential shifts in the manufacturing landscape and their impact on tenant revenue generation.

Finally, Tom shares one point of clarity with the listeners. Focus on maintaining a positive mindset and keep open communication with your tenants. This way you can plan ahead and make the most out of your investments!

About our Guest, Tom McCrossin

For Tom McCrossin, it all started in 2006 at the age of 19 when he purchased a condominium. With the opportunity to join the condo association’s board of directors, Tom learned about large-scale property management. His professional background includes serving as a property manager as well as managing the restoration of fire/water-damaged buildings.

Tom has extensive experience rebuilding homes and renovating buildings, which started in 2010 by buying duplexes with his wife.

The first industrial warehouse acquisition in 2019 inspired the business to buy vacant buildings with tenants in place to lease space once the property is acquired. In 2020 he added a duplex and a single-family home to the portfolio, while 2021 brought the addition of 100,000 square feet of industrial warehouses, along with a duplex and a whole home revitalization in Milwaukee.

Mentioned in the show:

https://newlanemanagement.com/
His LinkedIn
His Instagram
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Special thanks to Tom McCrossin for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Our guest is Matt Faircloth, a real estate investor and best-selling BiggerPockets author. Today, we dive deep into the key members of a successful multifamily team, how to scale up from single-family to commercial properties, and how the industry will change in the foreseeable future. You don’t want to miss out on this conversation!

Learn more about Matt and his story at creclarity.com!

“What smaller real estate can teach you so you can graduate up into bigger real estate is tenant relations.”

01:00

Matt is managing thousands of multifamily real estate units. At the beginning of our conversation, he shares his insights about the differences between residential and commercial real estate investing. While larger apartment complexes of 50-100 units offer more diverse income streams, the fundamentals remain consistent.

Matt shares some value add strategies like pet fees, laundry machines, or even trash valet. He also recommends renter’s insurance as a value add, as it is beneficial for both the owner and the tenant.

“The four seats in the GP are the Hunter, the Brain, the Money, and the Hammer.”

12:08

Matt delves into the critical roles within a GP team, emphasizing the importance of recognizing each member's unique talents.

He identifies 4 key personality types, each suited to a specific role:

The Hunter: These types of people are good at acquisition. They are adept connectors, closers, and negotiators.
The Brain: They excel at analyzing deals and running the numbers, making them suitable for the underwriter role.
The Money: They are more extroverted and good at sales, so they should assemble the debt and raise capital.
The Hammer: This type of personality is great at multitasking and project management. They should be asset managers as they are highly driven to implement and fulfill the business plan.

“I think now investors want stability, some cash flow, and to get through the next couple of years while rates are really high.”

27:25

Towards the end of the episode, Matt discusses how to raise money successfully in today’s market and how to build good relationships with investors. In recent years, the focus has shifted towards cash-flowing deals, reflecting LP investors' preference for short-term gains.

At the end of the conversation, Matt shares what he’s most excited about in the CRE world right now. He looks forward to the impending change in the industry. There will be a repositioning in America’s real estate, creating many opportunities for creative real estate investors. The innovation will also change many of the asset classes we’re familiar with now. However, Matt expresses concern that the current polarization in politics may destabilize the country.

Finally, Matt shares one point of clarity with the listeners. “See the opportunities, hop in, and you'll figure it out.”

About our Guest, Matt Faircloth

Matt Faircloth has been a full-time investor since 2005. In that time, he has successfully completed projects involving dozens of fix and flips, office buildings, single-family homes, and apartment buildings. He commands thousands of multifamily units in partnership with millions in passive investor equity, earning him recognition as a trusted authority, regular contributor and podcast guest on BiggerPockets®.

With an active YouTube channel dedicated to educating investors and a bestselling book, "Raising Private Capital: How to Build Your Real Estate Empire with Other People's Money," Matt offers invaluable insights and strategies to elevate your real estate journey.

Mentioned in the show:

www.derosagroup.com/
His LinkedIn
Matt Faircloth - Raising Private Capital
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Special thanks to Matt Faircloth for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. We have a returning guest today, John Casmon, multifamily syndicator, podcast host, and marketing expert. In our conversation, we talk about the best multifamily markets, how to align your team with your goals, and how to minimize your tenant turnover with event marketing. Join us and get inspired!

Learn more about John and his story at creclarity.com!

“The reason the Midwest is so appealing to me is because it's very stable. It doesn't get too high up when things are great, but it also doesn't get too low at bad times.“

01:00

In the last decade, John has almost exclusively focused on multifamily investments in the stable Midwest markets, particularly cities like Columbus, Cincinnati, Louisville, and Indianapolis. He emphasizes the importance of evaluating market fundamentals and considering factors like population growth, job market strength, and rental market trends before making investment decisions.

John explains that in 2023 the most amount of new units come to the market in the last 36 years and 2024 is expected to surpass that number. This trend forces rents to compress.

“With my team, we're all aligned with our goals. They're clear on what success means to me, and our strategies and goals are based on that.”

08:42

John loves multifamily but he’s looking into different asset classes as well, like boutique hotels or residential assisted living. His goal is to create memorable experiences for his tenants by focusing on community and organizing community events. This mentality stems from John’s event marketing background and is leading to remarkably low tenant turnover.

John is very clear on what success means to him, and his team has to be aligned in their goals. He primarily focuses on the NOI, and the compensations are tied to that as well.

“I'm excited about the overall market dynamics because it's a great time to grow.”

30:48

Towards the end of the conversation, John shares what he’s looking forward to in 2024. He’s excited about new opportunities. In the last couple of years, it was challenging to come across good deals, but he sees 2024 as a year of opportunity, noting that investors are returning to fundamentals, making it easier to identify cash-flowing deals.

Finally, John shares one point of clarity with the listeners. Understanding goals and visions is key to clarity and success. Make sure your investing strategy aligns with your actual goal. That's going to help you get the most clarity.

About our Guest, John Casmon

John Casmon is a real estate entrepreneur, who has partnered with busy professionals to invest in over $100 million worth of apartments. John also consults active multifamily investors to help them start or grow their business. He hosts the Multifamily Insights podcast (formerly Target Market Insights) and is the co-creator of the Midwest Real Estate Networking Summit. Prior to becoming a full-time investor, John worked in corporate America, overseeing marketing campaigns for General Motors, Nike and Coors Light.

Mentioned in the show:

https://www.casmoncapital.com/
His LinkedIn
Shineinsurance.com
www.crerisk.com
Jeremy’s LinkedIn

Special thanks to John Casmon for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. In this episode, we delve into the net lease investment space with expert guest Miguel Jauregui. From mastering tenant selection to navigating the current lending landscape, Miguel shares valuable insights you don’t want to miss out on.

Learn more about Miguel and his story at creclarity.com!

“Some of those Amazon-proof businesses are where people want to be today.”

01:04

Miguel is specialized in the net lease asset class. He’s drawn to this asset class because of its lower management responsibilities and long-term stability.

Miguel explains some hurdles new investors should understand about the net lease investment space.

Understand the lease and the tenant.
Choose tenants with a strong credit profile and high FICO score.
Be prepared for a potential vacancy if you’re investing in a single-tenant property.

“The state matters. The city matters. It's something that you have to consistently consider because you're gonna see different cap rates in different places.”

11:34

Miguel is a debt expert. He shares his best advice on putting together the best debt stack for a property.

Location matters. Don't solely base your decision on the tenant.
Always run your deals through a financing professional, especially in today's volatile lending market.
Build a strong profile and have a well-organized PFS.

“The bank is in the business of doing loans, not declining loans. They need to do loans, so be transparent with them.”

21:45

Toward the end of the episode, Miguel talks about how to navigate the lending process. The key is to be transparent with the lenders. Hiding any issues can ruin your long-term relationship with them.

There are still a lot of opportunities in today’s market. View high interest rates or potential vacancies as opportunities to find value and negotiate favorable terms.

Miguel thinks that the market may be near its bottom. He anticipates market stabilization and potential improvement as interest rates decrease.

About our guest, Miguel Jauregui

Miguel has over ten years of real estate experience, developing his career from an analyst to his current role leading the capital markets team. Before joining SAB Capital, Miguel worked as a CRE Relationship Manager for Wells Fargo, as a Director of Investment Sales for Besen Partners, and was the NYC Co-Lead for Greysteel. In these roles, Miguel worked in multiple areas of the industry where he monitored over $170 million of real estate assets, brokered over $200 million of deals throughout New York City, and created relationships with capital market partners to support and educate his investor clients properly.

Mentioned in the show:

His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Miguel Jauregui for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest is Shannon Robnett, a real estate developer and syndicator with over 35 years of experience. Shannon shares his advice on becoming a successful syndicator, selecting top-notch service providers, and managing risk in the current market. You don't want to miss out on this episode!

Learn more about Shannon and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“I don't like paying taxes. I'm very patriotic, but to me, that's not a patriotic duty.“

01:13

Shannon is a fourth-generation realtor. For a while, he didn’t want to work in real estate, however, after completing college, he recognized the immense financial potential within the industry.

Over the course of his 35-year career, Shannon has taken on various roles, including overseeing construction projects, working as a developer and multifamily asset manager, and investing in many deals. He started syndicating in the last few years.

“The first thing that I try and do when I talk with an investor is make sure that they understand who they are.”

06:23

Shannon shares his best pieces of advice on how to become a successful syndicator.

Find a mentor and work up to your goals slowly but steadily.
Understand what kind of investor you are, how high your risk tolerance is, and what type of deals fit your lifestyle.
If you've lost money, figure out why, and don't do that again.

“When you're underwriting correctly, if everybody's doing it, it’s probably a really good time to not be doing it.”

20:40

Shannon shares his insights on selecting top-notch service providers while minimizing associated risks within your team. His advice is to prioritize expertise and experience over cost. Also, always think at a higher level about your business and look for the most dedicated service providers with good track records.

Towards the end of the episode, Shannon shares his risk mitigation strategies in the current market. He’s always managed risk from an 8-cap standpoint. If he can’t get an 8-cap on the investment, he won't pursue it. He’s emphasizing not being influenced by the market and having a solid underwriting strategy.

About our guest, Shannon Robnett

Shannon is a Real Estate Developer and Syndicator with a principal focus on Multifamily and Industrial real estate in the greater Boise area. His accomplishments include:

Involved in Boise Real Estate Market for 35+ years
2nd Generation Builder & Developer
4th Generation Realtor
Involved in over $250MM in construction projects ranging from multi-family, office buildings, and municipal buildings to schools, industrial projects, and mini storage
A history of over $140MM in successful developments
Has under management over $100MM with a wide range of investors

Mentioned in the show:

shannonrobnett.com
Robnett's Real Estate Rundown
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Shannon Robnett for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

The Future Of Commercial Real Estate, With Shannon Robnett
112: Quadrant Of Risk
113: 1031 Exchange In Kansas City, With Alex Olson

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Jacques Bazinet, a mammoth in the CRE world, with over 7500 units under his management. Listen in as we delve into the topic of manifesting who you want to be in your career, understanding the significance of your team as your key asset in the real estate business, and navigating the current multifamily downturn by identifying lucrative investment markets. This episode is a must-listen!

Learn more about Jacques and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“Mental creation precedes physical creation.”

02:09

Jacques started his career in the training and development field alongside Stephen Covey. However, his passion for commercial real estate eventually led him to pursue it full-time, and now he is the COO of Tallos Holdings.

He talks about Stephen Covey’s famous book, The Seven Habits of Highly Effective People, and highlights the most important lessons from it.

Have a clear framework for what you want to achieve mentally. Begin with the end in mind.
Have high level of integrity with yourself before extending that same level of integrity to others.
Before beginning to manifest your desires, figure out who you want to be and what you stand for in life.

“Organizations are perfectly aligned to get the result they're getting.”

08:37

Jacques talks about the 50% rule. According to this rule, 50% of the information you hear in your industry is false. His advice is to prioritize your integrity and truth-seeking abilities to discern the factual information from the misinformation.

Drawing from this principle, Jacques shares valuable advice on collecting accurate information and managing real estate risks effectively.

Work with people who have more experience than you. This gives you the flexibility to do a lot more.
Start creating a reality where you're seeking answers from others, welcoming their answers, and trying them out. Be curious and willing to learn.

“I think a life of integrity is like several lives of moving forward without integrity.”

19:35

Jacques offers insights on managing risks in large multifamily projects. He emphasizes that being trustworthy attracts trustworthiness, and investors seeking to build relationships with developers, engineers, or other project-related people should prioritize building trust through their actions.

Towards the end of the episode, Jacques talks about the growing inventory and decreasing occupancy in multifamily from a builder’s perspective. He shares his best pieces of advice to find the right market.

Build in the top five cities and in the number one sub-market within those top five cities.
Build a class A product that is affordable.
Choose an area where there might be oversupply in the general market, but not within the sub-market that you're in.

Jacques’ prediction is that the general market will be much more stable in the next 2 years.

About our guest, Jacques Bazinet

Jacques Bazinet serves as Chief Operations Officer of Talos Holdings. With over 30 years of experience in operations and 25 years of experience in human performance, Jacques brings a unique perspective and ability to assist Talos Holdings in achieving its overall corporate vision. With executive and director roles at companies like Franklin Covey and InsideOut Development, Jacques has been instrumental in helping 10x revenues while also providing consulting, strategy, and a clear vision for 98 Fortune 1000 companies. In addition to assisting businesses to thrive, Jacques has a personal goal to create environments that foster personal and professional growth for residents of Talos Holdings' developments, yielding maximum, consistent returns for investors.

Mentioned in the show:

https://www.talosres.com/
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Jacques Bazinet for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

Flipping Resorts, With Josh McCallen
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Join us in this episode as we chat with Stewart Heath, the CEO of Harvard Grace Capital and a seasoned commercial investor. Discover valuable insights on investing in customer-facing offices, creating an effective proforma, and managing risks through property management.

Learn more about Stewart and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“We have a hard line that we're going to maintain 6 months of reserves in our syndications.”

01:46

Stewart initially ran his own CPA practice and witnessed the success of his real estate clients. Inspired, he started investing in duplexes and condos too, and eventually had almost 200 residential properties in his portfolio. Unfortunately, during the 2007-08 financial crisis, he lost a large portion of his portfolio.

When Stewart started over, he decided to invest in retail properties instead of residential ones. His advice for anyone starting a business is to include six months' worth of operating expenses as reserves in their business plan. This way, even if the business experiences high vacancies or low profits, it can still survive for a year.

“We do the property management ourselves. It is the only way that I can guarantee that I'm delivering on the proforma as much as possible.”

09:56

Stewart mainly invests in Alabama and Tennessee. He prefers investing in stabilized properties and avoids multifamily investments. His preferred asset class is customer-facing suburban offices.

To manage real estate risk, Stewart emphasizes the importance of property management. The tenant selection process is a crucial factor that can make or break a property's success.

Aside from his primary investments, Stewart also invests in self-storage, which is a profitable asset class and has a strong correlation with multifamily.

About our guest, Stewart Heath

Heath sits on several boards, including HGC, Winsome Truth, The Shepherd’s Call, and Second Chance Sober Living. In 2016, Heath was recognized as a finalist for the Nashville Business Journal’s CFO Awards. Currently, Heath holds several fractional CFO positions.

Heath previously held positions as COO and CFO for companies in retail, real estate, manufacturing, corporate services, entertainment, and digital media. He earned his CPA license in 1987 and has since held several senior financial and operating positions. Heath also holds a B.S. in Business Administration from Auburn University.

Mentioned in the show:

https://www.harvardgrace.com/
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Stewart Heath for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

Flipping Resorts, With Josh McCallen
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Tommy Brant - a once electrical engineer, now a dedicated full-time real estate investor. Join us in this episode as we delve into the art of building a solid syndication team, uncovering potential pitfalls in multifamily deals, and the importance of establishing reliable structures and processes in your real estate business. You don’t want to miss out on this episode

Learn more about Tommy and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“We're in a business where we can't be buying with emotion when it comes to other people's money so if I can't buy with the spreadsheet, then I'm not going to buy.”

01:53

Tommy began his professional journey as an electrical engineer, dedicating 12 years to this field before moving on to real estate investing. His experience as an engineer taught him the importance of paying close attention to details and establishing effective systems.

Initially, Tommy focused on investing in single-family homes. In 2021, he made the switch to becoming a full-time real estate investor. Currently, his main focus is on multifamily syndication.

“If it's not a “hell yes” for our investors, then it's a “hell no”

09:15

Tommy shares a deal that appeared promising but ultimately did not pan out. Despite finding a property with potential and assembling a strong team, they soon discovered fraudulent activity committed by the property manager. As a result, the contract was canceled and legal action against the manager was recommended.

From this experience, Tommy learned valuable lessons about the importance of risk management for asset managers. He advises implementing weekly property management calls, closely monitoring financials for inaccuracies, and avoiding entrusting financial responsibilities to a single individual.

Despite this setback, Tommy persevered and successfully syndicated a 49-unit property in Louisville in 2022, which proved to be a profitable venture.

“Every deal is different, every structure is different, and every type of investor is different, so you've got to classify things appropriately.”

21:39

At the end of the conversation, Tommy delves into the topic of syndication structuring, which is divided into three key domains: acquisition, investor management, and asset management.

Tommy is known for his meticulous approach to process management, having invested significant time and effort in developing detailed checklists for each of the three domains. He emphasizes the importance of building an experienced team and participating in masterminds to gain valuable insights and experience.

When it comes to market predictions for the next couple of years, Tommy believes that we will be experiencing an elevated inflationary environment, which could manifest in the form of supply and inventory fluctuations.

About our guest, Tommy Brant

Tommy Brant is a ‘recovering‘ electrical engineer and data scientist turned full time Real Estate Investor. Based in Nashville, TN. He started TB Capital Group as a tool to buy real estate with family, friends, and partners. He helps busy professionals accelerate their wealth through passively investing in real estate.

His goal is to help others achieve ULTIMATE freedom (which can’t be done without being financially free)

Portfolio of LTR, STR, and apartments - invested in 400+ units, totaling $36M in assets.

Mentioned in the show:

https://tbcapitalgroup.com/
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Tommy Brant for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

Flipping Resorts, With Josh McCallen
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. You're in for a treat today as we have a remarkable guest, John Ballenger, joining us. John is not just a CRE developer but also a former Marine Corps member who served as one of the select seven individuals responsible for flying Presidents around the country. In this episode, John shares his insights on his 20-year journey in the Marine Corps and the concept of "brilliance in the basics" that he's applied in his real estate career. He also dives into the secrets of building a high-performing real estate team that can make all the difference in your success.

Learn more about John and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“How you do the small things will eventually compound and that's what will get you to the goals that you set down the road.”

02:18

John's journey began two decades ago when he joined the Marine Corps. Over the course of his career, he rose through the ranks to become one of just seven elite individuals entrusted with the monumental responsibility of flying Presidents.

John's outstanding success can be attributed to his commitment to a powerful concept called "brilliance in the basics." It’s a theory that by doing something down to the smallest action you get good at it.

Following his retirement from the Marine Corps, John pivoted to the real estate industry and established himself as a CRE developer and coach. His team operates in multiple states, including Colorado, Oklahoma, and Pennsylvania.

“I had been around highly effective teams long enough to know that it's better to form a team of individuals that are proficient in a few things, then find people that are okay at a lot of things.”

09:33

John shares insights on managing risk from his military and real estate experience, emphasizing the importance of mitigating risk to an acceptable level. He advises focusing on the small things that can be controlled and ensuring they are done well to make risk manageable.

Around 5 years ago, John became a passive investor in syndications and recognized the value of collaborative teamwork towards achieving ambitious goals. Inspired, he partnered with an investor in Pennsylvania and learned real estate development.

“One thing I learned in marine aviation is the OODA loopthe idea of constantly adapting and modifying your actions based on how others respond or the situation unfolds, and reengaging with a different strategy.”

22:25

John shares his best piece of advice on how to find the right individuals to do syndications with.

Remember that even highly efficient and successful individuals are still people. Be humble and willing to help and ask questions.
Trust is a crucial factor, so prioritize reliability when selecting business partners.
Don't hesitate to follow up with potential partners, but do so thoughtfully to engage them effectively.

About our guest, John Ballenger

John Ballenger was born and raised in Tulsa, Oklahoma where he later attended and graduated from Oral Roberts University in 2002 with a B.S. Degree in Marketing and minor in Management. After graduation, he departed for Officers Candidate School in Quantico, Virginia where he was commissioned as an officer in the United States Marine Corps before starting a successful 20-year career as a Naval Aviator. Over his career, he was deployed on four different occasions to locations including Eastern Africa, the Pacific, Iraq, and Afghanistan. John finished his career back in the Washington D.C. area where he had the privilege of flying Marine One over the last 5 years for both the Trump and Biden Presidential administrations.

John has recently retired from the Marine Corps and relocated to Colorado Springs, CO with his two boys Lincoln and Hudson, and the love of his life Riann. Transitioning from the military, John started success consulting focusing on “Brilliance in the Basics” which leverages his experience from his time in the military, multiple combat deployments, and the loss of his daughter Brooklyn. John is a partner in the commercial real estate development company Aspire Development Group which focuses on the Oklahoma and Colorado markets.

Mentioned in the show:

https://aspiredevgroup.com
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to John Ballenger for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: · SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts

· While you there, please RATE & REVIEW the show

· SHARE with friends

· Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

Flipping Resorts, With Josh McCallen
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have a special guest, Mitch Provosty, an industry veteran with over two decades of experience as an investor, developer, advisor, and general contractor. In this insightful conversation, Mitch shares his wealth of knowledge on how to effectively manage insurance risk, make smart decisions in your acquisitions, and offers his market outlook for 2023. This is an episode you won't want to miss!

Learn more about Mitch and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“I'd rather be lucky than good.”

01:57

At the beginning of the episode, Mitch shares the most pressing risks in the industry. He talks about the risk of the deal and insurance risk - two of the biggest areas to keep an eye on. To mitigate insurance risk, Mitch shares 3 key tips:

Make sure you fully understand your insurance policy.
Be cautious of any potential code issues.
Surround yourself with knowledgeable insurance advisors.

Later on, Mitch also shares his expert advice for acquisition managers when it comes to underwriting.

Get to know your market - don't make the mistake of entering a bad market.
Aim for a market with a diverse base - look for areas with strong education, healthcare, government, and manufacturing sectors.

“My gut tells me that interest rates are going to peak here in the next three to six months.”

21:04

At the end of the conversation, Mitch shares his insights on the real estate market in 2023.

Cap rates in multifamily haven't caught up yet due to high interest rates In light of this, he recommends diversifying your investments and exploring other asset classes such as hotels or schools.
The cost of buying start to get up there with the cost of building, making ground-up development a potentially lucrative opportunity.
Interest rates might start to go down in 3 to 6 months, however, a recession may be on the horizon. It’s important to be cautious with our investments.

About our guest, Mitch Provosty

Mr. Provosty has over twenty years of experience in the commercial real estate industry as an investor, developer, advisor, and general contractor. Mr. Provosty has ten years of experience in the residential and commercial construction industry in Florida and he is the founder of Antebellum Construction in the Florida panhandle. Antebellum is licensed to build residential and commercial construction projects throughout the State of Florida. Noteworthy projects in which Mr. Provosty brought his talents include the acquisition and re-development of the Beachside Resort in Panama City Beach, FL, 13 flagged hotels in the Texas oil play including two ground-up development projects, Lotus Village Apartments in Austin, TX, ground-up development projects in Gallatin, TN, Amesbury Plaza Apartments in Dallas, TX, The Brook Hollow Apartments in Desoto, TX, Hotel Palomar in Dallas, TX and The Residences at Hotel Palomar in Dallas, TX.

Mr. Provosty has been directly involved in the acquisition, re-development, and disposition of over $250MM worth of commercial real estate projects over the last several years. Mr. Provosty is also the founding partner of Ravenswood Holdings LLC. Mr. Provosty is a principal in RREAF Holdings LLC, Realty America Group Strategic Opportunity Fund and Realty America Development. Prior to his commercial real estate activities, Mr. Provosty worked as a project manager in manufacturing plants executing large industrial construction projects.

Mentioned in the show:

https://rreaf.com/
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Mitch Provosty for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

Flipping Resorts, With Josh McCallen
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Joining us as our guest is Peter Culver, co-founder of Freedom Family Office and a wealth management expert. In this action-packed episode, you'll discover the top strategies for diversifying your portfolio, how to create a steady stream of passive income, and expert tips for navigating the market in 2023. Don't miss out on this opportunity to level up your investment game!

Learn more about Peter and her story at shineinsurance.com/managing-commercial-real-estate-risk!

“Concentrate, to grow, diversify, to protect.”

01:39

At the beginning of the episode, Peter delves into the key principles that help people succeed in their real estate investing journey.

Focus on your ideal life. Start by figuring out what you want to achieve and then work backward from there.
Take well-thought-out risks and focus on your risk management.
Diversify your portfolio to protect your assets.
Planning your exit strategy from the beginning is crucial.

Peter recommends having a balance of 40% private investments and 60% public investments for diversification.

“Have a model, stick to a model, and be disciplined.”

12:57

Peter talks about the concept of predictable passive income. According to him, there are two ways to generate predictable passive income: real estate and private debt. He emphasizes the importance of having multiple streams of income, especially for those in technology-oriented businesses, as the industry is constantly evolving.

Towards the end of the conversation, Peter talks about some of the key things he’s doing to manage the risk in 2023.

Stick to your business model and be disciplined because there’s too much money chasing too few deals right now.
Focus on tertiary markets instead of major metropolitan areas.
Invest in diverse funds to diversify your portfolio.

About our guest, Peter Culver

With over 25 years of experience in wealth management, Peter is responsible for building a custom wealth plan for each client. He begins with a detailed review of their current asset allocation, fees and performance, which culminates in a tailored strategy that realizes their goals and values. With experience in estate planning and facilitating family meetings, his presence among our firm is appreciated by all who work with him.

After graduating from Yale University and the University of Connecticut School of Law, Peter practiced law in New York City and Connecticut for 12 years. His law practice led him into the wealth management field, where he represented trust companies and other financial institutions. He then served as Co-Founder and President of Sachem Trust, located in Greenwich, CT and later as President of State Street Bank and Trust Company of CT. For 14 years, he served as Senior Wealth Director at BNY Mellon in New York City.

Peter’s passion is working directly with individuals and families to reach their personal and financial goals. He offers his clients deep experience in all facets of wealth management: financial and estate planning, investments and insurance, family dynamics and wealth transfer. To this technical expertise, he adds the ability to see the big picture and to integrate all the components into a cohesive plan. To both clients and other advisors, Peter is known as optimistic, an excellent listener and extremely responsive.

Mentioned in the show:

https://freedomfamilyoffice.com/
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Peter Culver for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

Flipping Resorts, With Josh McCallen
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Dwan Bent-Twyford, real estate investment coach, mentor, and podcaster. In our conversation, we talk about how to buy and revitalize an entire town, grow our risk tolerance, and the valuable lessons she learned during her 33-year-long investing career.

You don’t want to miss out on this episode!

Learn more about Dwan and her story at shineinsurance.com/managing-commercial-real-estate-risk!

“One thing I will say in the last five years is the value of the downtown has gone up over 40%, which I'm pretty excited about.”

01:43

Dwan is a seasoned investor with 33 years of experience. She got her start in the rehabbing business and has primarily focused on investing in single-family homes and duplexes throughout her career. Recently, however, she's shifted her focus to commercial properties.

Dwan's current project is located in Clinton, Iowa, a small town where her husband grew up. She's working to revitalize the area and currently owns 20 buildings, including a mix of retail, office, and industrial spaces.

“As a real estate investor, you have to have a high-risk factor.”

07:53

Dwan talks about the challenges and risks of her project in Clinton, Iowa. She shares that her biggest obstacle was gaining support from the local community. Navigating the human aspect of the business proved to be the most difficult aspect of the project.

Dwan shares her vision for Clinton, which is to create a family-friendly town with plenty of options for dining, shopping, and entertainment. In order to achieve this, Dwan has purchased several of the largest buildings in downtown Clinton and has evicted tenants whose businesses did not align with her vision.

With a 5-year plan in place, Dwan aims to transform downtown Clinton into a shopping destination with a variety of boutiques, antique shops, and restaurants for visitors to enjoy.

“You have to keep learning, going to classes, listening to podcasts, I go to other people's workshops.”

23:33

At the end of the episode, Dwan reflects on some of the biggest lessons she's learned throughout her career. She shares that she's learned how to make quick, well-informed decisions, even in the face of risk. Over time, her risk tolerance has increased, allowing her to take on more ambitious projects and have more fun with her investments.

About our guest, Dwan Bent-Twyford

Dwan Bent-Twyford and her husband, Bill Twyford, are professional real estate investment coaches, mentors, and top podcasters. With over 2,000 real estate transactions under their belts, they have created a duplicatable system to help you find the same success.

Their goal is to educate you on everything related to real estate investing from short sale investments to real estate foreclosures to Subject-To's.

Their home study courses, proven methods, internet training program, and live classes not only teach you how to become a multimillionaire real estate investor... they also hold you accountable for your progression along the way.

Specialties: Teaching seminars to my many students and helping homeowners get out of underwater situations!

Mentioned in the show:

https://dwanderful.com/
Her LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Dwan Bent-Twyford for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

Flipping Resorts, With Josh McCallen
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is the Land Geek, Mark Podolsky, author, and podcast host. Mark picked up more than 6000 raw pieces of land during his 20 years in the business, and he shares with us his simple process step-by-step. We learn about how to start in this asset class and how to mitigate the risk of land investing.

Learn more about Mark and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“This model is so simple that if the podcast listeners are driving they might fall asleep.”

03:38

Mark is the owner of Frontier Properties, a land investment company. He’s been in the business for over 20 years now.

Mark has a simple process for how he picks up raw land and he shares it step-by-step.

He picks up raw land from owners who are in a distressed scenario. He takes the land off of their hand, solving their problem.
He then tries to sell the land to the neighbors at a discounted price.
This creates a passive income for him for years.

Mark’s advice on how to start a land business.

Know where other land investors are buying land.
Figure out your budget and pick your market.
Start mailing out offers to property owners. A good place to create a list is datatree.com.
Create a pricing matrix.
Automate your processes.

“At some point, too little money in this niche is a problem. But too much money in this niche is also a problem.”

25:10

Mark talks about how land investment can be a good passive income stream. It’s a very accessible asset class and can add passive income to any size of real estate portfolio.

Mark’s purpose in life is to solve people's money and time problems and help with self-actualization. That's what motivates him every day

About our guest, Mark Podolsky

Mark is the owner of Frontier Properties, a land investment company. Mark (AKA The Land Geek) is widely considered the Country’s most trusted and foremost authority on buying and selling raw, undeveloped land within the United States.

Since 2001 Mark has completed over 6,000 raw land deals with an average return on investment of over 300% on cash purchases and over 1000% on land deals that he financed.

Mark is the host of one of the top-rated podcasts in the Investing Category on iTunes aptly titled The Art of Passive Income Model.

Mentioned in the show:

www.thelandgeek.com
https://www.thelandgeek.com/wholetailing/
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Mark Podolsky for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

How To Market Your Deal, With John Casmon
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. On the show today we are talking about debt and all the risks associated with it. Our guest is Edward Brown, a capital-raising expert and podcast host. We learn about financing, how private lending works, and the best ways to choose a lender.

Learn more about Edward and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“Even though our documents do have a one-year hold, there's no penalty for early withdrawal as long as you just give us 30 days' notice.”

03:44

Edward is working at Pacific Private Lending as a capital raiser. Investors are investing in his funds that are building up the capital and Edward’s company lending it out by mostly doing residential bridge lending. He assists with 4 different debt funds.

The upside of his funds as opposed to traditional CRE investments is that the risk is very low. The investor’s principal is secured as the investor is the first person in the debt stack.

“A few years ago, when interest rates were still fairly low, there was so much money abounding, people keep undercutting each other. This doesn’t happen anymore.”

14:38

Edward shares his top 3 things to look out for when choosing a lender

Check out their portfolio and how long they’ve been in business.
Get some referrals.
Make sure to ask about the structure of the fund draw and if the funds will be available at closing.

Edward reflects on the current market. Because the interest rates have gone up the refi market has dried up considerably. This has made even better opportunities to Edward’s company.

“It's better to give bad news in your tax returns with an explanation than it is to have to come back afterward and say, Well, I didn't know you're gonna catch that.”

28:09

Edward talks about why investors choose their lending instead of agency debt.

They are faster.
They don’t require that much qualification.
They don’t perform that many background checks.

Edward explains what investors can do to make a perfect file.

Make sure that all the forms, most importantly the 1003, are filled out as accurately as possible.
When you send your tax returns, if there's anything out of the ordinary, send a letter of explanation.
Know your tax return and your financials well.

About our guest, Edward Brown

For over 20 years Edward Brown was CEO of a $40 million alternative lending company based in Marin County. Today he assists Pacific Private Money with capital raising and investor presentations. Edward is also the host of two radio shows —The Best of Investing with Mark Hanf and Sports Econ 101, a national sports and business show. Edward earned his B.S. in Accounting and M.S in Taxation from Golden Gate University, and has held licenses and certifications including Real Estate Salesperson, Insurance License, Series 7 Securities License, Tax Preparation License, and Certified Fund Specialist.

Mentioned in the show:

https://www.pacificprivatemoney.com/
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Edward Brown for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

How To Market Your Deal, With John Casmon
112: Quadrant Of Risk
From Broke To Millions, With Mike Ealy

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today we have a behemoth in the world of commercial real estate, Mike Ealy. Mike has over 23 years of experience in single-family, multifamily, and hotels and he shares with us how he mitigates risk in his businesses. We talk about the best markets in the country, how to get into the hotel industry, and how he made a 5M dollar profit on a deal during COVID. Join us and get inspired.

Learn more about Mike and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“When you first start investing, you want to see the property and touch it. But as you get bigger and you start scaling, your team is everything.”

04:37

Mike has over 300 apartment units and 5000 keys in hotels all over the country. His main focus is the Midwest but he recently started to invest in the South East as well. Investing in the Southeast is riskier but the rewards are higher. Mike says that building a strong team enabled him to be able to invest in different states in the country.

Mike explains that the downside of a market where the margins are greater is you get hit harder when the market corrects itself. These markets are also not cash-flowing during the hold period, however, they appreciate a lot every year.

“I'm looking for deals that could potentially do a 3x multiple.”

13:14

Mike talks about a successful deal he picked up in 2020, mid-COVID. It was a 128-door deal in Cincinnati and he made 5M dollar profit on it. His biggest takeaway was to be consistent and persistent.

Mike shares some of the biggest mistakes he sees people make going into a deal.

Being too dependent on a low interest rate. Don’t buy a property just because the debt is cheap, but because it’s a great deal.
Not having enough reserves and CAPEX. Put at least 3.5-4% of your gross revenue away monthly.
Don’t be paralyzed by the recession.

“I know multiple people that own hotels, and literally took home 2-3 million cash in revenue from it.”

30:34

Mike invests in hotels as well. They make more cash, depreciate harder, and have better tax benefits.

It’s difficult to get into the hotel business, but it’s possible with a great team with credible and experienced team members.

About our guest,

Michael Ealy is principal and owner of a private equity fund investing in apartments and hotels. Me and my partners have acquired 3,000 apartment units since 1999. In addition, our hotel partner-operator has 5,000 hotel keys or $1.5 BILLION worth of hotels under management.

Mentioned in the show:

https://nassauinvests.com
Michael Ealy - From Broke to Millions
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Mike Ealy for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

How To Market Your Deal, With John Casmon
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Drew Dolan, a real estate investor with over 20 years of experience in self-storage. In our conversation, we talk about how to limit your risk in development projects, the best ways to get into self-storage, and the future of this asset class. Drew also shares his best practices that will make you a better CRE investor! Don’t miss out on this episode!

Learn more about Drew and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“Although you might make mistakes, when you keep showing up, you're going to learn something.”

04:10

Drew studied engineering and started working in sales when he was 23 years old. In 5 years, he met a lot of developers and realized that that’s what he wanted to do.

Although it took him a long time to learn the industry and build relationships, after 20 years he now has a very extensive network in Albuquerque, New Mexico.

“If you always protect your downside, the upside takes care of itself.“

10:21

Drew shares his best piece of advice on how to limit risk in development projects.

Create sections of the work that you’re doing and focus on one section at a time.
Have a solid strategy that you stick to but constantly reassess.
Have someone on your team who looks at deals from a different perspective and plays devil’s advocate.

Drew talks about the ways to get into self-storage.

You can buy a value add. In the last few years, the performance of self-storage went up significantly so the value add prices are very high and the returns are low.
You can build self-storage units. Self-storage has one of the lowest cost of capital development but you really have to understand the market.

In the future, one of the biggest opportunities in self-storage is the influx of people investing in real estate. The biggest risk is that the market is changing very fast and money isn’t cheap anymore.

About our guest, Drew Dolan

Over his 20-year career in development and construction, Drew has focused on structuring real estate investments, joint ventures, and capital management. Previously he was President of Titan Development where he managed Titan's self-storage and multifamily divisions. In 2017, Drew helped launched Titan Development Real Estate Fund I a $112 million fully-discretionary fund focused on ground-up development. He served as Co-Fund Manager until 2019 when he became Fund Manager. Drew is currently a member of YPO, active on his ULI Council, and was formerly on NAIOP's national board. He holds a BS in Industrial Engineering from Arizona State University.

Mentioned in the show:

https://dxd.capital/
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Drew Dolan for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

How To Market Your Deal, With John Casmon
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Jon Darbyshire, the CEO and co-founder of SmartSuite. In this conversation, we talk specifically about one of our 4 quadrants - systems risk. We learn about how to elevate our processes by using simple and accessible technology and the key systems every CRE business should have.

Learn more about Jon and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“In commercial real estate, people continue to run their business using older technology when newer platforms are available that are just as financially viable for them.”

03:46

Jon is the CEO of SmartSuite. SmartSuite is a work management platform that allows organizations to manage any business process inside of their organization. It is a no-code platform, which means that it doesn't require any coding or knowledge of programming languages. Users can use different managing templates and customize them to their needs.

According to Jon, the biggest mistake people make in their real estate systems is using old technology to manage their business. Sometimes, even billion-dollar companies manage their portfolios on spreadsheets without any systems. When businesses switch to up-to-date technology, the people involved in the processes can collaborate better and tasks can be allocated easier.

“We help organizations manage any process or any project on a single platform.”

16:08

SmartSuite helps manage many different processes.

Due diligence
There are a lot of standard due diligence questionnaires in SmartSuite that can be assigned to different people with due dates. Different properties can also be compared.
Asset management
You can do monthly, quarterly, or semi-annual reviews of your properties from a health perspective, an occupancy perspective, and a financial perspective. You can track maintenance activities as well.
Exit strategy
There are a few ways an investor can prepare for an exit with SmartSuite. The first is tracking market economics in that particular geography. The second way is to look at the cash flow.

At the end of the conversation, Jon shares the most important system features that a CRE investor should consider:

You want to have a product that's accessible through the web and mobile.
The systems have to be cost-effective. (SmartSuite starts at $10 per user per month.)
You want to have integrations because you need to get data into the system.
Ability to automate routine tasks in order to save time.

About our guest, Jon Darbyshire

Jon is CEO & Co-Founder of SmartSuite, a work management platform allowing realtors, property managers, and CRE companies to improve their operations, tenant relations, bids, and remodels. With Jon’s experience at EY and dozens of Fortune 100 companies, he has enhanced the productivity of people and teams by aligning their work around common goals.

Throughout his career, Jon has been dedicated to automating everyday, essential business tasks to create smarter, more efficient organizations, no matter what the industry. Prior to Archer Technologies, Jon held leadership positions at both EY and Price Waterhouse, honing his skills in understanding the need to automate and simplify work for the enterprise.

Mentioned in the show:

www.smartsuite.com
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Jon Darbyshire for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

How To Market Your Deal, With John Casmon
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have a veteran CRE investor with us who has more than 25 years of experience, Ken Gee. In our conversation, Ken breaks down risk in different parts of the lifecycle of a commercial real estate deal. He lays out how to succeed in the CRE world and mitigate the risks through due diligence, raising capital, and asset management. You don’t want to miss out on this episode!

Learn more about Ken and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“I've always told our investors, it's my job to try to protect the downside and make sure we have a good upside plan in place.”

04:52

Ken has around 2000 doors in his portfolio and he’s been investing in commercial real estate for more than 25 years. He describes himself as a risk-averse person. According to him, one of the hardest aspects of real estate investing is bringing yourself to the awareness of the risks that you want to mitigate.

Ken’s advice on how to successfully identify and mitigate risk:

Educate yourself on the industry, market, and property.
Focus on your operation and constantly evaluate your business plan.
Have a solid insurance policy.
Identifying risk comes easier with experience, so don’t give up.

“There's going to be things wrong everywhere. It's just a fact of life. What our job is, is to identify risks that matter.”

12:40

Ken talks about how to manage the risks surrounding the lifecycle of the property.

Due diligence
Look at the physical property and see if there are hidden things there that are difficult to correct or significantly impact your business plan.
Ken’s advice is to find a mentor at the beginning of your investing journey to help you build out your due diligence process. Document the entire procedure.
Raising capital
It’s important for passive investors to understand what it means to be invested in a multifamily real estate deal. Ask all the uncomfortable questions from the sponsor to evaluate if they’re professional and knowledgeable enough. Figure out if they’re transparent and have a good track record.
Asset management
Give yourself 30-60 days to learn everything about the property before you start the renovation. Based on this information, modify your business plan.

Ken shares his insight on CRE risks in the near future. Interest rates have doubled in the last year and we might go into a recession. In the real estate industry, the most important thing is occupancy, so make sure you’re buying in a growth market and keep your occupancy high.

About our guest, Ken Gee

Mr. Gee is the founder and managing partner of KRI Partners and the KRI group of companies. He has more than 24 years of significant real estate, banking, private equity transaction and principal investing experience. Throughout his career, he has been involved in transactions valued in excess of $2.0 billion, much of which has included the acquisition, management and financing of various multi-family real estate projects as well as playing a significant role as a member of due diligence and transaction structure planning teams for several private equity firms specializing in the small and middle markets.

Prior to forming KRI Partners, Mr. Gee was a tax manager with Deloitte & Touche LLP where he focused his practice on state and local tax planning, merger and acquisition due diligence and transaction structure planning for private equity and middle market companies. Some of his major clients included The Riverside Company, Key Equity Capital Partners, Blue Point Capital, Linsalata Capital Partners, The Zaremba Group, Charter One Bank and Applied Industrial Technologies, Inc.

Prior to his career at Deloitte & Touche, Mr. Gee spent several years at National City Bank (now part of PNC Bank) where he served as commercial loan officer, credit analyst, branch manager, and mortgage loan originator during his career with the bank.

Unrelated to his real estate experience, Mr. Gee also owned and operated several certified Cessna Pilot Centers in the Northeast Ohio area. These Cessna Pilot Centers operated an FAA approved professional pilot school and specialized in the sale of new and pre-owned aircraft.

Mr. Gee is a licensed Ohio Certified Public Accountant. He received his master's degree from Case Western Reserve University's Weatherhead School of Management and his B.B.A. from the University of Toledo. He is a member of the National Apartment Association, Florida Apartment Association, Bay Area Apartment Association, Apartment Association of Greater Orlando, First Cost Apartment Association, Northeast Ohio Apartment Association, Ohio Society of Certified Public Accountants and American Institute of Certified Public Accountants.

Mentioned in the show:

www.kripartners.com
www.kripartners.com/ebook/
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Ken Gee for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

How To Market Your Deal, With John Casmon
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Vadim Rey, a multifamily real estate investor and former US Navy Officer. In our conversation, we dig into a fascinating topic - how the military mitigates and manages risk, and what can we learn from their systems and strategies for our investing journey. You’ll hear some ideas on how to set up your operating systems better in your business, make sure that you have a strong purpose behind what you're doing, and positively impact the people around you.

Learn more about Vadim and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“I joined the duty to really help others and create a positive impact on the world.”

04:05

Vadim joined the US Navy in 2005, right after college. He was an officer for 7 years and just got out of the Navy this year. He joined the military because he wanted to make a positive impact on the world and do something that was not the traditional 9 to 5 corporate job. However, over the years he realized that the military had a lot of corporate culture and bureaucracy as well.

Around 3 years ago, Vadim decided to start investing in multifamily real estate because he was looking for more freedom for himself and his family.

“There's a difference between being rich and being wealthy. Having a lot of money doesn't mean much if you don't have the time to do what you really want to do.”

08:58

Risk is something that’s talked about every day in the military and everything is about how to reduce risk to an acceptable level. Vadim shares what he’s learned from the military about managing and mitigating risk.

Have strong procedures and policies in place and always follow them.
Work with people who have common goals as you and build a strong team.

Vadim talks about his Why. He wants to make the world a better place and positively impact as many lives as possible. Through multifamily investing, he can take care of his tenants and it also gives him enough free time to do impactful things.

“There's only so much you can do with policies and procedures if you don't have the right people to actually do those policies and procedures.”

25:10

At the end of the conversation, Vadim shares his best pieces of advice on how to mitigate real estate risk.

Always make sure to have appropriate insurance in place.
Be conservative in your underwriting.
Have a strong property management team that really cares about your property.
Choose people in your team who have the same goals as you.

About our guest, Vadim Rey

Born in Ukraine and raised in Los Angeles, CA, Vadim graduated from Tufts University in 2015 with a Bachelor of Science degree in Mechanical Engineering and received a commission as a US Navy Officer.

In his 5 years of Naval Service, Vadim has led almost 300 service members across 3 different branches of the military in a variety of Joint and Navy missions. Currently, he is serving aboard the USS HARRY S TRUMAN as one of the information systems officers.

Vadim is leaving active-duty service in 2022 and has pivoted to multifamily investing as a means of helping other people live their best lives. He started his portfolio in 2018 with a single-family house which he rents to a Baltimore Regional Housing Program family and is currently house-hacking a duplex. He is a GP in 23 units in Norfolk, VA, and an LP in over 2,100 units across the Southeast.

Mentioned in the show:

www.fwcinvestments.com
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Vadim Rey for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

How To Market Your Deal, With John Casmon
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Paul Shannon, a multifamily investor from Indianapolis. In our conversation, we talk about how to mitigate real estate risk, how to succeed in the current market, and what metrics to focus on in your underwritings. What you'll gain from this conversation is a high-level understanding of how someone in the CRE world thinks about risk, so you definitely want to tune in.

Learn more about Paul and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“Having different options gives you a margin of safety, where maybe if you just go into one avenue for success, and that avenue doesn't work out, you're in a pinch.”

03:59

At the beginning of the conversation, Paul talks about the biggest risk he’s taken in his life. When he was 37 years old, he left a well-paying sales leader position to pursue his career as a real estate investor full-time. He mitigated the risk by educating himself, saving up, and building a solid safety net for himself and his family. He started investing in the Midwest, specifically in Indianapolis, as it’s a historically cash-flowing market.

Paul’s advice on how to mitigate real estate risk and build a successful portfolio is to always have options in your investing journey. Plan out multiple exit strategies with every investment to never be backed up in a corner.

“When inflation is above 4%, and unemployment is below 4%, in every case, we've gone into recession. “

15:30

Paul shares his insights about the current real estate market and how to manage its risks.

We’re most probably heading towards a recession, so be prepared for the potential downside.
In the current environment, cap rates are expanding a bit more than they have in the past. Therefore, be more conservative in your underwriting.
Due to inflation, fewer people can afford to buy homes, which means that they're going to be renting. That's a solid indicator for multifamily. Multifamily has typically done very well in times of inflation.
During a recession, vacancy affects A+-class (luxury tenants) and C-class (working class tenants) properties the most. B-class properties are a bit safer avenue.

Paul is a passive investor as well. His favorite metric in underwriting is the yield on cost, which is the pro forma net operating income. It provides a way to compare the potential return on a value-add investment versus less risky alternatives. To calculate it, simply divide the net operating income by the project's total cost.

About our Guest, Paul Shannon

Paul Shannon spent his career as a sales leader and consultant for a large ophthalmology company, implementing surgical devices into operating rooms and health systems across the midwest. Since leaving his corporate career in 2019, Paul has acquired over 150 single-family and multifamily units by recycling his equity, using the BRRRR method, and/or joint venturing.

Paul has experience in acquisitions, raising capital, property management, and project management, and is a licensed Realtor in Indiana.

Along with being active in his business, Paul is a passive, limited partner in over 1,400 multifamily units, numerous industrial offerings, and ATMs.

Mentioned in the show:

www.redhawkinvesting.com
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Paul Shannon for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

How To Market Your Deal, With John Casmon
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we dive into our 4 quadrants of risk and specifically the last quadrant - systems risk. Our guest is John Casmon, who knows a lot about marketing, sales, and delivery. In this conversation, we talk about how to create the right foundation for your CRE business, build a healthy successful company, and find your “Why”.

Learn more about John and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“More than 50% of Americans who make six figures or more live check to check.”

04:01

John spent 15 years in corporate America doing advertising and marketing for big brands such as Nike, Coors Light, Mountain Dew, and General Motors. However, he didn’t just want to rely on a W-2 job, so to create multiple income streams, he started investing in real estate.

John started with small multifamily investments of 2-4 doors and scaled up over time to larger deals of hundreds of units.

“We're facing record-breaking inflation. You want to have your money parked in income-producing, appreciating assets, like real estate.”

08:32

John shares the best 3 ways to get into multifamily as an average working professional:

House hacking. Buy a 2-4 unit property, live in one unit, and rent out the others.
Joint venture. If you don’t have a lot of time or experience, partner up with somebody who has those.
Invest in syndications. If you have more capital and want to be a passive investor, invest in larger deals through syndication.

When you decide to work towards financial freedom through real estate, figure out your “Why”. Ask yourself what motivates you the most. Your goals, desires, fears, or frustrations.

“We do business with people who we know, like, and trust, so you have to develop that relationship if you want people to do business with you.”

17:07

John is an expert in building real estate systems like marketing, sales, and delivery. He shares the biggest mistakes he sees people make in these areas.

Not thinking about the service that you’re providing as a service. Take your time to understand your clients and the problems you’re solving for people.
Trying to have a product or service for everybody. Focus on your specific customer avatar.
Not keeping track of your connections. Make sure to have a CRM in place, so you can reach out to the people you meet. Always focus on adding value while you’re building your marketing funnel.

About our Guest, John Casmon

John Casmon launched Casmon Capital Group to help busy professionals invest in real estate without taking on a second job. We’ve helped families invest in close to $90M in multifamily apartments to create passive income, reduce their tax obligation, and foster generational wealth. John hosts the Target Market Insights: Multifamily + Marketing podcast. In addition, he is the co-founder of the Midwest Real Estate Networking Summit. As a former marketing executive, John oversaw marketing campaigns for General Motors, PepsiCo, and MillerCoors.

Mentioned in the show:

https://www.casmoncapital.com/
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to John Casmon for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

How To Market Your Deal, With John Casmon
112: Quadrant Of Risk
130: How To Find Undervalued Markets, With Stefan Tsvetkov

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. If you’ve been listening to this show you’re probably starting to get a hang of how we mitigate CRE risk. We analyze and manage the risk based on good data. Our guest today, Stefan Tsvetkov, a financial engineer turned multifamily investor and analytics speaker, is all about market data analysis. In our conversation, we talk about how the real estate market changed in the last 2 recessions, what markets are over or undervalued right now, and what to expect in the industry if another recession comes. Join us to evaluate your target market better!

Learn more about Stefan and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“Market valuation is a measure of where a real estate market, city, county, or metropolitan area is valued relative to its key fundamentals.”

5:34

Stefan moved to the US in 2009 when he was 22 years old. He started his career as a financial engineer and over the years, transitioned into the real estate world and market analysis.

Stefan explains how he’s evaluating a particular market. He looks at 3 key fundamentals: income, population, and housing supply. He measures if the market is overvalued or undervalued, and how would it handle a peak market cycle and subsequent fall off.

“At the current time, the undervalued markets tend to be in the Midwest and Northeast.”

11:40

Based on data from the last 2 financial crises, the dot-com bubble and the 2008 financial crisis, Stefan can evaluate how a specific market would react to a potential recession. He shows us a heatmap of US real estate market valuations by state for 2020. This displays undervalued and overvalued markets.

Stefan explains that the less overvalued a market is at the time of a recession, the more likely that market is going to do well in the coming decade. This means that investing in an undervalued state or city potentially has less downside in a possible recession, however, the 3 key fundamentals also have to make sense to evaluate these markets.

About our Guest, Stefan Tsvetkov

Stefan Tsvetkov is the Founder of RealtyQuant (www.realtyquant.com), a company that brings data-driven and quantitative techniques to the real estate industry. On a mission to add massive industry value through education, investment, technology, and analytics.

Financial engineer turned multifamily investor, analytics speaker, and live webinar host. He holds a Master's degree in Financial Engineering from Columbia University, and during his finance career managed ~$90 billion derivatives portfolio jointly with colleagues.

Featured on multiple Podcast and Webinar events including Elevate, Best Ever Real Estate Show, Investing in the U.S. etc. Host of Finance Meets Real Estate webinar series.

Mentioned in the show:

https://www.realtyquant.com/
Finance Meets Real Estate Youtube Channel
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Stefan Tsvetkov for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

126: Private Lending & Cashflow, With Alex Breshears
125: Mindfulness & Professionalism, With Terrie Schauer
118: Elevate Your Operations

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have an amazing guest for you, one of the country’s top real estate trainers, Rod Khleif. Rod is a real estate investor, author, multifamily mentor, and podcast host who owned thousands of units in his career. In our conversation, we talk about how Rod built his insane portfolio, what is about to come in the near future in the real estate industry, and how to mitigate risks in your investments.

Learn more about Rod and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“Cashflow is everything.”

05:14

Rod moved to the United States from the Netherlands with his mother and brother when he was 6 years old. He had a humble upbringing, but his mom was very entrepreneurial and inspired him to invest his money from an early age.

Rod chose not to attend college but go straight to get his real estate license. He became successful fast and built a huge portfolio. However, in the 2008 crash, he lost almost $50M in investments. This made him a more conservative investor, and over time created even bigger success for himself.

“There's going to be an incredible opportunity in the near future. Some people say it could be the greatest transfer of wealth we experienced in our lifetimes.”

12:36

Rod talks about some of the risks he sees in the current market, and how these can cause complications in the future.

Operators are overleveraging debt and bridge debt became common which creates skinny deals.
The United States printed so much money in the last few years that it’s increasing interest rates and inflation. This can cause a recession or even a depression in the upcoming years.

Rod shares his best pieces of advice on how to mitigate real estate risk in the current market.

Be very conservative in your underwriting.
Cash is king in a crisis so focus on cash-flowing deals.
Your mindset is very important. Focus on your goals and learn as much about the current market as possible.
Be a specialist and not a generalist. Specialize in one asset class and become an expert in it.

About our Guest, Rod Khleif

Rod Khleif is an entrepreneur, real estate investor, multiple business owner, author, mentor, and community philanthropist who is passionate about business, life, success, and giving back. As one of the country’s top real estate trainers, Rod has personally owned and managed over 2,000 properties.

Rod is the Host of the Top-Ranked iTunes Real Estate Podcast which has been downloaded more than 13,000,000 times – “The Lifetime Cash Flow Through Real Estate Investing Podcast.” Rod is the author of the #1 best-selling book “How to Create Lifetime Cash Flow Through Multifamily Properties” considered to be an essential “textbook” for aspiring multifamily investors.

As an accomplished entrepreneur, Rod has built several successful multi-million dollar businesses. As a community philanthropist, Rod founded and directs The Tiny Hands Foundation, which has benefited more than 120,000 community children and families in need. Rod has combined his passion for real estate investing and business development coaching with his personal philosophy of goal setting, envisioning, and manifesting success to become one of America’s top real estate investment and business development trainers.

Mentioned in the show:

Multifamilybootcamp.com
rodslinks.com
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Rod Khleif for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

126: Private Lending & Cashflow, With Alex Breshears
125: Mindfulness & Professionalism, With Terrie Schauer
118: Elevate Your Operations

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Camilla Jeffs, a real estate investor, and educator. She had massive success investing in single-family homes and shares how she shifted to passive investing. We also talk about why the biggest risk is not taking risks, how to help your children to become investors, and the best ways to evaluate a deal.

Learn more about Camilla and her story at shineinsurance.com/managing-commercial-real-estate-risk!

“I didn't think we could afford a house. And then when we got into a house hack, it turned me on to the concept of real estate investing.”

03:54

Camilla first invested in real estate when she was just 22 years old. She did a house hack with her husband because she didn’t want to rent. She fell in love with real estate and started educating herself.

Her strategy was to buy fixer-uppers, move into them and fix them up in 2 years, then hold on to them for another 3 years for tax purposes. She also bought some four-plexes and in 15 years, grew an impressive portfolio.

Camilla has 5 children who grew up in this entrepreneurial environment. They are also very involved in real estate now.

“We have to take risks and we have to be okay with it.”

13:58

Camilla talks about what she sees as some of the biggest risks in REI. One of them is not buying the right deal at the right location, but an even bigger risk is not taking any investment risks.

She took another risk in 2019 and started investing in commercial real estate. She is on a journey to turn all her active investments into passive ones.

Camilla shares the top 3 things to focus on when evaluating a deal.

Team. Look for an experienced team in the actual type of investment that you’re going for.
Market. Find a growing market with job diversity.
Deal. Look for a solid business plan that fits your goals.

About our Guest, Camilla Jeffs

Camilla Jeffs is passionate about financial education, building wealth, and living a life by design. She is the Founder and CEO of Steady Stream Investments, a company focused on providing investment opportunities in large multifamily and senior housing communities. With 18 years of experience investing in real estate, she has done everything from live-in flips, single-family rentals, small multifamily, and now large multifamily and assisted living. She specializes in teaching the first-time investor how to achieve passive income and diversify their portfolio. Camilla believes in the investing trifecta, where one can achieve strong financial returns and create social and environmental impact by providing safe, clean, and affordable housing to entire communities. Camilla is a triathlete, an outdoor enthusiast, and a devoted mother to her five amazing children.

Mentioned in the show:

https://steadystreaminvestments.com/
https://camillajeffs.com/
Her LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Camilla Jeffs for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

126: Private Lending & Cashflow, With Alex Breshears
125: Mindfulness & Professionalism, With Terrie Schauer
118: Elevate Your Operations

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we talk about the risk of falling behind in real estate. Our guest, Gary Wilson, has been an investor for over 30 years and shares how he has stayed on top of the industry. We talk about the 4 ways to limit real estate risk, how to build your property management team, and how to keep up with rapid market changes. You definitely don’t want to miss out on this episode!

Learn more about Gary and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“Many property management companies are used to traditional long-term rentals. They're not used to Airbnb and corporate housing, and that’s a risk.”

4:58

Gary has been investing in real estate for over 30 years. At the beginning of the conversation, he shares what he sees as the biggest risk in the current market. The world is changing and evolving rapidly and real estate investors have to keep up with all the changes in order to stay in business. One example of that is Airbnb as corporate housing which is a fairly new concept.

Another real estate risk is financing. There are new options for alternative financing for bigger properties, but investors need to be cautious and well-informed about them.

“Your lender, your insurance guy, your attorney, they're all partners. So select your partners wisely.”

10:20

Gary shares his risk management process. He has 4 key ways to limit his real estate risk.

Be a good landlord.
Make sure your property is up to code, safe, clean, and reliable. This is not only beneficial to your tenants but good for your reputation in the industry as well.
Have solid property insurance.
Avoid injury or death on your property by making it as safe as possible. However, make sure to properly insure yourself if something does happen despite all of your efforts.
Use an LLC for your real estate business.
LLC gives you anonymity and one degree of separation from liability. Any lawsuit will go to the LLC first and not you personally. A good rule of thumb is to not have more than $1M in assets in any one LLC. On higher levels, you can use trusts instead of LLCs as well.
Have good property management.
Many people self-manage their properties. However, there’s some risk in that because if you're the owner and the manager as well, you automatically tie yourself directly to the tangible asset. To avoid that, build a good property management team incorporated in a separate LLC.

About our Guest, Gary Wilson

At age 40, retired as Corporate Vice-President, Mergers & Acquisitions in National Banking;

In the first 6 months after earning a real estate license, created 6 figure income working with Investors
Completed over 100 transactions per year consistently every year without a sales team or assistant, with virtually no marketing costs
Traded over 3,000 Investment properties in less than 5 years
Developed five real estate holding companies, owning more than 250 Rental Units
Self-made multi-millionaire by building a real estate enterprise including: brokerage, rental management, investment services, settlement services, and appraisal services
Award winner and accepted into Andron Apiphenon Order of Excellence for Real Estate
Author of FIVE Real Estate Investment books: Rental Profits Without The Pain, Flipping For Profits Without The Risk, Turning Rental Problems into Real Estate Profits, Wholesaling For Profits so Everybody Wins, Investor Agent, Make More Money Not More Work
Founder, Trainer and Coach of Path to Profit System, teaching more than 8,000 Agents and Investors;

Mentioned in the show:

https://globalinvestoragent.com/
https://www.myinvestmentservices.com/
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Gary Wilson for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

126: Private Lending & Cashflow, With Alex Breshears
125: Mindfulness & Professionalism, With Terrie Schauer
118: Elevate Your Operations

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have a great conversation for you about debt and cash flow. Our guest is Alex Breshears, private lender, LP investor, and author. We talk about how to limit your risk by understanding capital, how private lending differs from hard money lending, and how to build your capital stack.

Learn more about Alex and her story at shineinsurance.com/managing-commercial-real-estate-risk!

“That's actually one of the things I love about private lending is that it’s extremely flexible and you can make it anything you want.”

07:05

Alex is a private lender. At the beginning of the episode, she explains that private lending and hard money lending are two very different things. As a private lender, Alex and her business have a certain amount of capital that she lends out to people after underwriting their deals. However, hard money lenders’ funds generally come with strings attached. Borrowers have to fit certain standards in order to qualify for loans.

Alex's advice for people who are interested in becoming a private lender is to be very informed about their state’s laws because brokering has different laws in every state. It’s useful to find a specialized attorney for this process.

“If you'd have a private lender saying they lend in all 50 states then that is a hard money lender calling themselves a private lender.”

15:03

Alex shares some things to look out for as an investor when working with a private lender:

No funds should change hands outside of closing.
Most private lenders are hyper-local. Therefore, if they’ve done loans in that area, their deeds and trust, and mortgages are public records.
Ask for references in your market.
Be aware of people who say they lend in all 50 states, as they’re probably hard money lenders.

“The reason I invest passively is because I want to go out and live actively.”

28:20

Alex is an LP investor. She talks about the risks of the capital stack. LP investors are on the top of the capital stack, so if the deal goes wrong, their money is at risk first.

Alex breaks down passive investors into 2 categories - equity multiple investors and cash flow investors. She prefers cash flow investing as it is more reliable by running the numbers. It’s also less risky, as the properties are usually stabilized.

About our Guest, Alex Breshears

Alex Breshears is a private money lender, short-term rental owner, LP investor in syndications, and private lending fund manager. She is also a BiggerPockets published author, with her private lending book “ Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending” hitting shelves in August of 2022. She started an educational Facebook group called Lend2Live: Private Lending Lessons which offers educational lessons, daily posts for discussion, and opportunities to network with other investors about private lending, and various projects that may need funding. Alex is also passionate about financial education and independence for female investors. Alex is a military spouse, dog mom of 4, and seeks to educate others about investing to fit the design of your life. She was a chemistry professor, teaching for a four-year school for the past ten years, with a special focus on pharmacology.

Mentioned in the show:

Lend2Live: Private Lending Lessons Facebook Group
Her LinkedIn
Alex Breshears - Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Alex Breshears for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

124: Being A Connector, With Yonah Weiss
How To Escape Burn Out & Make Better Decisions, With AdaPia D’Errico
110: 3 Silos Of Risk

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we talk about how mindfulness can help you be a better property manager. Our guest is Terrie Schauer, investor, property manager, author, and coach. She shares some techniques for being more mindful in our work life, how to be professional in business relationships, and why real estate investing isn’t as risky as many of us think.

Learn more about Terrie and her story at shineinsurance.com/managing-commercial-real-estate-risk!

“Very often the things that people are afraid of are not the things that they should be afraid of.”

08:30

At the beginning of the conversation, Terrie shares what risk means to her. She is living and investing in Quebec, and according to her, real estate investing isn’t very risky overall. It can be hard and time-consuming, but there aren’t many events that can take down someone’s whole portfolio. The biggest risk is usually around the sale and not the operation of the property.

Terrie shares some ways to successfully mitigate real estate risk.

Focus on creating solid contracts at the beginning of all your business partnerships.
Have your systems and processes in place at the time of sale.
Make sure to insure the property early on.

“The best diet plan in the world will not help you if you can't execute it in those micro-moments when you're choosing what to put into your mouth. And real estate is the exact same thing.“

16:18

Terrie wrote a book, Mindful Landlord, that focuses on becoming a successful and fulfilled landlord through mindfulness. She talks about some of the techniques that can help you train your mind to become more mindful in your business.

Learn how to meditate and cultivate pure presence.
Instead of trying to replace anxious thoughts with positive thoughts, identify what’s underneath your thoughts.
Always focus on the next step in your business plan to avoid being overwhelmed.
Don’t be afraid to ask questions and ask for help from people.
Be professional in your communication with tenants. Use polite language and don’t text with them.

About our Guest, Terrie Schauer

Terrie is an investor, a property manager, and a real estate broker. She spent twenty years getting income properties in three different cities to cash flow, both for her and for her clients. For Terrie, the ultimate goal of being a landlord isn’t a dollar sign, it’s a full, happy, and financially free existence.

Mentioned in the show:

https://terrieschauer.com/
Terrie Schauer - Mindful Landlord
Her LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Terrie Schauer for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

124: Being A Connector, With Yonah Weiss
How To Escape Burn Out & Make Better Decisions, With AdaPia D’Errico
110: 3 Silos Of Risk

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we dive deep into networking and relationship building with our great returning guest, Yonah Weiss. Yonah is one of the best connectors in the CRE space and an expert in cost segregation. We talk about community building, mitigating risk, and the newest changes in cost segregation.

Learn more about Yonah and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“Platforms like LinkedIn are a great way to put yourself out there, create a brand that people recognize, and continuously add value.”

05:03

At the beginning of the conversation, we talk about building relationships and growing our network. Yonah has always been a good connector and enjoyed meeting people, so building community has always come to him naturally. He shares his best pieces of advice on how to be a good connector.

Learn how to be a good listener because that is the most important skill in networking.
Actively engage with other people’s content on social media, especially on LinkedIn.
Provide value on your social media consistently.

“Risk is very malleable because it changes based on your level of knowledge.”

17:09

Yonah talks about the biggest risk he took that changed his life. He moved from the United States to Israel 22 years ago, without knowinf anybody. He’s been working remotely ever since.

This experience taught him to not be afraid of taking risks. According to him, risk can always be mitigated by learning more about the topic.

“The biggest risk for anyone in commercial real estate is the uncertainty of market changes.”

27:06

At the end of the episode, we talk about Yonah’s expertise - cost segregation. Cost segregation is a tax strategy for real estate investors that allows them to accelerate their depreciation deductions to a faster pace.

Yonah talked more in-depth about cost segregation in a previous episode. A big change since then is that the “100% bonus depreciation” option ends in 2022 and will start to phase out by decreasing 20% each year for the next several years. What that means is you will no longer be able to take 100% of those accelerated deductions in the first year, you'll only be able to take 80% of them.

About our Guest, Yonah Weiss

Yonah is a powerhouse with property owners' tax savings. As Business Director at Madison SPECS, a national Cost Segregation leader, he has assisted clients in saving tens of millions of dollars on taxes through cost segregation. He has a background in teaching and a passion for real estate and helping others.

Mentioned in the show:

https://www.yonahweiss.com/
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Yonah Weiss for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

How To Build Your Network & Lower Your Taxes, With Yonah Weiss
112: Quadrant Of Risk
123: Infinite Banking, With Kofi Thompson

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Kofi Thompson, a financial advisor who helps people invest in many different asset types. In our conversation, we focus on the concept of infinite banking, a great way to create your own bank and make interest on your own money. We also learn how Kofi has mitigated real estate risks throughout his REI journey. Learn more about Kofi and his story at shineinsurance.com/managing-commercial-real-estate-risk!

“I get up every single day thinking about who are the lives and people that I can impact that day?”

07:36

At the beginning of our conversation, we discuss 2 of the “Risky 6” questions. Kofi shares some risk-related stories from his journey that can help us understand and manage risk better.

What's a risk that you took that changed your life?Starting his practice. Kofi left a secure and well-paying 9-5 job to follow his dreams as a financial advisor. It was stressful to take the leap, however, seeing how much impact he had on others’ lives made it all worth it.
What is a risk that you're comfortable with that maybe other people are not as comfortable with?
Risking his money and cash flow. As opposed to many people, Kofi is comfortable investing most of his money and having a smaller amount of cash in hand. He invests in the stock market, in real estate, and into his business.

“One thing that I practice is to not have an emotional attachment to any one specific asset, even if it's been doing well for 5, 10, 15, 20 years, and continue to diversify.”

22:22

Kofi is an expert in infinite banking. Infinite banking is a personal finance strategy that leverages a whole life policy as a “personal bank.” This includes taking loans against the policy and growing cash flow through the insurance's dividends. This creates more liquidity and the investor’s money appreciates at a better rate than in a savings account.

Infinite banking is a good option for someone who already has the financial capacity for their basic retirement needs and has a passive portfolio. It is a mid to long-term strategy.

Infinite banking has some risks as well. Kofi shares some ways to mitigate these risks.

Choose a mutual company that’s not owned by stockholders. So company profits or dividends that are paid by that company will flow to the policyholders and benefit the policyholders.
Go for a company that issues dividends because not every single company out there is a dividend-issuing company.
Choose a highly rated, stable company.

About our Guest, Kofi Thompson

“My team and I help our clients meet their current financial needs while planning for their future. We work with high-net-worth individuals, business owners, and Real estate investors to address those issues such as reducing taxes and increasing capital through alternative ways of investing and infinite banking strategies.

If you are looking for ways to increase returns while taking on less risk that is something we help our clients with every day. The traditional ways of building wealth could work for most people but are they enough to help you reach your goals?

If this is a question you asked before it may beneficial for us to connect to see how my team and I can help you get to your goals faster and more efficiently. Feel free to reach out and we'll make time for you to see how we may be able to help you as well.”

Mentioned in the show:

His LinkedIn
His Instagram
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Kofi Thompson for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

121: Capital Raising From Kuwait, With Keishia Kennedy
112: Quadrant Of Risk
122: Making Dreams Real, With Jerome Myers

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have a returning guest, Jerome Myers, one of our favorite people in the CRE space. Jerome is a commercial real estate and life coach who helps people realize and reach their investing dreams. In this episode, we talk about how Jerome manages risk in his businesses, how he makes decisions, and how to take the leap from a W2 job to your dream career.

Learn more about Jerome and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“I figured out how to allow my impact to drive income for me and I think most people think about it the other way.”

06:19

At the beginning of our conversation, we discuss our “Risky 6” questions. Jerome shares some risk-related stories from his journey that can help us understand and mitigate risk better.

What's a risk that you took that changed your life?Leaving corporate America. Jerome started working in a consulting firm in 2009. He had the opportunity to grow a construction company to 175 people in a year. However, soon after he had to lay off half of the company’s workforce. Because of that, he decided to leave the corporate world and focus on his true passion, real estate. He wanted to combine service and impact with a profitable business.
What is a risk that you're comfortable with that maybe other people are not as comfortable with?He is comfortable with betting on himself and believing in himself. According to him, if you have a solid strategy, the right support system, and the commitment, you will reach your goals, however big they are.
As a kid, what were you scared of that would surprise us?Jerome didn’t like being alone because he was scared of being lonely. However, he had to go through a period in his life when he learned to embrace being alone and lonely. During this journey, he realized that if he became comfortable with himself, solitude isn't bad at all.
How would you describe yourself as a decision-maker?Jerome does the math first and then does an emotional check. If his emotions and the numbers match, then he moves forward with his decision. If there’s a disconnect between the two, he usually follows the math.
What's the biggest risk that you see commercial real estate investors take that concerns you?
The way people over-leverage their property and how they service debt.
What is a risk to your portfolio that you worry about in the middle of the night?
That he had delinquency during COVID with his property management agency. He had to change agencies and was able to raise the rent eventually.

“Many of us are told to be practical and realistic, and that our dreams are not reasonable. But being reasonable doesn't lead to an extraordinary life.”

38:33

Jerome is a CRE coach, helping people take the leap from their W2 jobs, become business owners, and reach financial freedom. At the end of the episode, he talks about how to take the leap and follow your dreams.

Adjust your mindset and surround yourself with people who support you and lift you up.
Understand that if you don’t follow your dreams, then you won’t be in the position to enable others to reach their dreams too.
Have systems and processes in place before you take the leap to help you stay on track.

About Our Guest, Jerome Myers

Jerome Myers aka “J” is a developer of people and places. He is the founder and Chief Inspiration Officer of DreamCatchers and The Myers Development Group.

Through these entities, he gets to live out his childhood dreams of helping people manifest the things they imagine and create social proof that dreams should be real.

Since leaving corporate America after building a 20MM division at a Fortune 550 company, J has become one of the most sought-after thought leaders in the multifamily development space. His company, The Myers Development Group, built a multi-million-dollar portfolio following the principles of Myers Methods.

Unlike other coaching programs, we will go beyond strategy, assessments, and encouragement. Jerome pioneered Holistic Transformational Life Coaching more than 15 years ago. Up until about two years ago, it was only used with his closest friends and family. They repeatedly urged him to share his techniques with others and laid the foundation for introducing his methods to the world.

Mentioned in the show:

https://www.jeromemyers.co/
myersmethods.com
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Jerome Myers for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

Jump Into Multifamily With Jerome Myers
121: Capital Raising From Kuwait, With Keishia Kennedy
112: Quadrant Of Risk

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Keishia Kennedy, a thriving capital raiser living in Kuwait. Keishia is also a military veteran and fitness coach who loves a challenge. In our conversation, we talk about how to become motivated to find success, how to invest from afar, and how to be uncomfortable with getting comfortable. If you’re ready to step out of your comfort zone and challenge yourself, then this episode is a must for you.

Learn more about Keishia and her journey at shineinsurance.com/managing-commercial-real-estate-risk!

“I wanted to scale last year so I started investing in commercial assets all the way from Kuwait.”

03:31

Keishia is an American citizen who was born in Germany and had lived in many different places during her life. Her father was in the military, which inspired her to join the Army National Guard. She was deployed to Kuwait and kept going back as a military contractor.

Keishia started investing in residential assets in 2011 and moved into commercial real estate last year.

“I want to ensure that my partners and I align on our core values, so we can build that relationship over time.”

06:25

Keishia shares her advice about how to mitigate risk when investing in the US from a foreign country.

Leverage your team’s experience.
Find a niche that you can do from afar. For Keishia, this is capital raising.
Focus on networking online and building lasting relationships.

Keishia uses a “5 Fs Framework” to find partners and team members with similar core values to hers. The 5 Fs are Faith, Family, Fitness, Finances, and Freedom. Honesty and transparency are very important for her so she expects her team members to align with these values as well.

“I love a good challenge. I'm very active, very adventurous. We only live once, right? So why not?”

13:12

In the second half of the conversation, Jeremy asks Keisha 4 questions out of the “Risky 6” questions. These are some risk-related questions about her investing journey.

What's a risk that you took that changed your life?
It was the first real estate property she bought in Richmond, Virginia. At the time, she had no idea about REI, but the property ended up being cheap and highly cash-flowing.
What is a risk that you're comfortable with that maybe other people are not as comfortable with?
Investing outside of the US. According to her, if she can invest from another continent, anybody can invest in another state. As long as the numbers make sense, it‘s worth taking the risk.
As a kid, what were you scared of that would surprise us?
She was scared to swim, however now she’s a certified scuba diver. Keishia loves a challenge and to overcome her fears so she looked at swimming the same way. She brings the same mentality to real estate investing.
How would you describe yourself as a decision-maker?
Keishia is an executor. She makes her decision and continues to move forward until she reaches her goals.

About Our Guest, Keishia Kennedy

Keishia is an army veteran with six years of service in the Army National Guard. During her enlistment, she was a Human Resource Specialist and also deployed to Kuwait as part of Operation Enduring Freedom. She has also pursued education by earning a Bachelor of Science in Chemistry, a second Bachelor of Science in Exercise Science, and a Master of Arts in Homeland Security.

Following her enlistment, she began investing in real estate in 2011 and has been expanding and managing her portfolio of properties for the past 10 years. In April 2021, she decided to take the next step on her entrepreneurial journey by founding Kennedy Remedy Investments. Kennedy Remedy Investments will focus on investing in commercial multi-family properties in Virginia, with plans to expand to other southeastern states.

Mentioned in the show:

https://kennedyremedyinvestments.com/guide/
Her LinkedIn
https://kennedyremedyinvestments.com/
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Keishia Kennedy for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

How To Market Your Deal, With John Casmon
120: Taking Huge Action, With Ola Dantis
112: Quadrant Of Risk

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Ola Dantis, a multifamily investor and an absolute dream chaser and action taker. In our conversation, he shares how he moved 3 continents to make his dreams come true, and how to take significant risks and massive actions to succeed in the end.

If you want to learn how to be a risk-taker and build a strong portfolio, this episode is a must for you!

Learn more about Ola and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“I've lived on 3 continents. North America is the best one.”

05:44

Ola grew up in Nigeria, West Africa. As a child, he never dreamed of owning a multifamily real estate business. He moved to the UK when he was 16 and 10 years ago ended up in the US with his wife. Here, he got interested in real estate investing.

According to Ola, the US is the best place to live because there are great opportunities and a capitalistic system that is easy to plug into.

“You're not a tree, you can move. This could be a mental move or geographical move, but you can move, and that will radically change your mind.“

15:11

Ola moved to Houston from Baltimore during the pandemic to further his career even more. This transition helped him grow his portfolio significantly. He is very comfortable with moving for different opportunities and this is what he recommends to everyone as well. True success only comes if we’re willing to take risks.

Ola shares his best pieces of advice on how to balance risk and reward while making a decision.

Educate yourself and take calculated actions.
Don’t be afraid of making quick decisions but keep evaluating the process as you go.
Respect the asset that you’re working with and respect the business.
Create a solid business plan that helps everyone involved in the business to know what to do.

“I'm a big believer that relationships are what really drive the business.”

26:05

Ola talks about how he builds his team. He prefers to have people on his team who are faster than him, so they can motivate him to make quick decisions. He likes to find team members through referrals.

At the end of the conversation, Ola talks about what he sees as the biggest risk investors face nowadays.

We’re possibly entering a recession soon. This will affect investors negatively.
The high inflation rate makes it harder to invest in real estate.
The war in Ukraine is affecting the market as well.

About Our Guest, Ola Dantis

Ola, an entrepreneur at heart, brings his experience in owning and managing cash-flowing multifamily property in his personal real estate portfolio to larger multifamily investing with over $40,000,000M in deals. This foundational experience derived from the strategic acquisition, renovation, and repositioning has been instrumental in the apartment syndication space, resulting in a competitive edge in value add and equity creation. In addition, Ola draws from his leadership and analytic skills as a manager for a Fortune 10 company.

Mentioned in the show:

investwithola.com
His Instagram
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Ola Dantis for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

119: Why Relationships Matter, With Pili Yarusi
118: Elevate Your Operations
112: Quadrant Of Risk

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. On the show today we have another Titan in the commercial real estate world, Pili Yarusi, capital raiser and asset manager. We discuss how to build meaningful business relationships, attract capital on social media, and how to manage assets successfully at 1000 doors.

If you're struggling with taking advantage of these different social platforms, then this episode is for you!

Learn more about Pili and her journey at shineinsurance.com/managing-commercial-real-estate-risk!

“Real estate is a people business. So my biggest tip is to talk to people all the time.”

08:05

At the beginning of the show, Pili talks about how she finds good deals in the current tough market. She connects and talks to people every day on social media. She also takes calls from anyone because according to her, she never knows when a good off-market deal comes up. This attitude has helped her to find immense success and grow her portfolio to around 1000 doors in recent years.

Pili explains that the only risk she’s taking by networking is losing her time. However, she can gain countless business opportunities, great team members, and a good reputation in the industry through it.

“Life is all about relationships.“

19:17

Even though Pili loves engaging with people, she recommends that everyone find their own power. For some people, it’s networking, for others it’s crunching numbers, but everybody is good at something. Find people in your team with different superpowers.

Pili’s advice is to take action. Don’t wait until you become an expert in your field, take the risk and start taking action today!

“Make friends in those places where you don't think you could be of any service because I guarantee you that you can be.”

43:15

Pili is very active on social media. She engages with people on Facebook, LinkedIn, and Instagram, like many other investors, but she also likes to try unconventional platforms. Her newer favorites are Twitter Spaces and Clubhouse.

Pili’s advice is to try to be active on as many social platforms as possible and don’t be afraid to try new sites now and then.

About Our Guest, Pili Yarusi

Pili Yarusi loves to help people and “Lead with Aloha”.

She runs the Investor and Client Relations branches of both Yarusi Holdings and Multifamily Live. Multifamily Live is an interactive education platform for investors to build a strong FOUNDATION buying Large Multifamily.

Pili is the co-host of the Multifamily Live Podcast and trains others on the successful formula to buying apartment buildings at www.7FigureMultifamily.com.

She is also the co-host of The Jason and Pili Project - a fun and interactive YouTube channel that features all the fun that she and Jason are working on. Look out for a new Project coming out in Q2 2022. Her goal is to help one person a day take one step closer to a Fit and Rich Life.

She and Jason have three awesome children, Luke, Lily, and Leo, and an English Bulldog, Jill.

Pili has her NJ Real Estate License with EXP Commercial.

Mentioned in the show:

https://www.yarusiholdings.com/
Her LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Pili Yarusi for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

103: Should I Wait To Buy Apartments? With Jason Yarusi
107: Inside An $80M Exit, With Veena Jetti
How To Work A 400 Unit Deal, With Veena Jetti

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Welcome to the Managing CRE Risk podcast, where we believe that if you can identify, understand, and manage risk, you can take huge leaps in your CRE journey and find more success along the way. Today, Jeremy talks about our last episode with our great guest, Axel Ragnarsson. In that conversation, we discussed how to make sure that your operations process is as functional and well set up as possible. Now, we would like to share some of the key takeaways from the interview.

Join us and learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

“If you do things while you have control over them, even if it feels a little early, you're much better off than reacting to a crisis.”

Our last guest was Axel Ragnarsson, an investor with a lot of properties in New Hampshire, Indianapolis, and Florida. He's a property manager and an operator with over 300 doors in his portfolio.

In that conversation, we mostly talked about how to create functional and well-set-up operations, and now we’d like to share some of the key takeaways.

You have to have your reno budget and your CaPex figured out right from the beginning and stick with it as best you can.
Be conservative with your underwriting and raise 15% more capital. The last thing you want to do is go back to your investors for more money.
Make sure you get your renovation done quickly.
If you do all your renovation upfront you know the exact cost and don’t have to budget for it later. This way you can control the risk by controlling the environment.
Set clear expectations and have good communication with your property managers.
Look out for the red flags in a property manager. The 3 main red flags are using bad softwares, getting bad referrals, and unclear communication.
Set your communication requirements with your property management company and set clear expectations from the very beginning. This is how you can mitigate the risk.

How do you manage your operations process? What makes it successful?

Share with us on social media!

Mentioned in the show:

Shineinsurance.com
Jeremy’s LinkedIn
www.shineinsurance.com/managing-commercial-real-estate-risk
The REI Clarity Framework

If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

117: Tips For Better Multifamily Operations, With Axel Ragnarsson
115: Manage Risk Like A Large Business
112: Quadrant Of Risk

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Our guest today is Axel Ragnarsson, an investor from Boston, MA with over 300 doors in his portfolio. In this conversation, we go deep into how to elevate your operations and manage risks in the current market. Axel shares with us the key things to look out for while underwriting, how to find the best property managers, and how to become a stellar operator. If you’re into the multifamily market, then this episode is a must for you!

Learn more about Axel and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“There's so much fear in the market right now related to interest rates.”

01:39

At the beginning of our conversation, Axel explains what he sees as the biggest risk investors take nowadays. According to him, interest rates and cap rates are changing rapidly so it’s even harder to buy at the right price. Therefore, investors should be more conservative with their underwriting.

However, there are still many opportunities in the current multifamily market as there is a lot of liquidity and rents are still going up.

“A really significant component that separates the exceptional investors from the average ones, is they have a tight handle on the CapEx process.”

12:04

Axel shares his advice on the key things to focus on as an operator for a successful property.

Be conservative in your dept assumption, cap rate assumption, and rent assumption.
Make sure you stay on your renovation budget and CapEx budget.
Don’t just focus on your cash flow.
Have a clear plan for your expenses for the next few years.

“We've ended relationships with owners before and we can always trace it back to poor expectation setting and poor communication upfront.”

29:46

At the end of the episode, Axel talks about how to succeed in property management as an operator.

Get on the same page with your property management company before closing on a property. Share your underwriting with them and see if they can hit the metrics.
Set your communication requirements and stick to them.
Ask what software they’re using. It should be one of the “Big 5”.
Ask around for referrals from previous clients.

About Our Guest, Axel Ragnarsson

Axel is a New Hampshire native and has been a full-time real estate investor in the NH area for 5+ years. He purchased his first multifamily property during his sophomore year at the University of New Hampshire. Shortly after, he caught the real estate bug, leading to the founding of his real estate investment firm, Brickleaf Properties. Currently, Brickleaf Properties owns approximately $7M in multifamily real estate and has been a principal party in $20M+ worth of transactions.

Axel is also the Host of the Multifamily Wealth Podcast, where he interviews successful real estate investors (link at the bottom of the page). He is a huge New England sports fan, likes to golf, ski, and travel.

Mentioned in the show:

http://alignedrep.com/
The Multifamily Wealth Podcast
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Axel Ragnarsson for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

116: The #1 Way To Manage Risk, With Brian Burke
115: Manage Risk Like A Large Business
114: Pivotal Partnerships, With Heather Ewing

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. On the show today, we have one of the behemoths in the CRE world, a returning guest, Brian Burke. Brian has been investing in real estate for 30+ years, he has tons of doors in his portfolio and he’s a contributing member to the Bigger Pockets community. In our conversation, he gives us insight into how risk works in his portfolio, how he thinks about it, and how he navigates it.

Learn more about Brian and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“Nothing gives you a better education than experience. And especially bad experiences.”

4:10

At the beginning of the show, Brian talks about how he gained experience in real estate investing. According to him, adversity and difficulty are the greatest education and through them, we can gain a lot of experience.

During his long career, Brian realized that the best way to mitigate real estate risk is to not have too much debt and not be over-leveraged. His advice for new investors to avoid over-leveraging is to slowly keep expanding their base of investors and always invest within their means.

“When you have a property that goes up in value as quickly as in this market, you have to sell it and cash in.”

14:44

Brian explains the most significant external pressures on investors in the current market.

The biggest risk is labor shortage. It’s difficult to find good people to manage properties.
Intense demand for income real estate is causing prices to run up incredibly high.

According to Brian, in this market, it’s very easy to sell properties as everything is appreciating fast. His advice for buyers is to be thoughtful about the assets they buy. Some assets still make sense to acquire because the rents are also going up tremendously.

About Our Guest, Brian Burke

Brian has acquired over 800 million dollars worth of real estate over a 30-year career including over 4,000 multifamily units and more than 700 single-family homes, with the assistance of proprietary software that he wrote himself. Brian has subdivided land, built homes, and constructed self-storage, but he really prefers to reposition existing multifamily properties.

Brian is the author of The Hands-Off Investor: An Insider’s Guide to Investing in Passive Real Estate Syndications and is a frequent public speaker at real estate conferences and events nationwide.

Mentioned in the show:

https://praxcap.com/
Brian Burke - The Hands-Off Investor
His LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Brian Burke for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

How To Passively Invest In Real Estate, With Brian Burke
Define & Achieve Your Desired Outcome, John Blanton
110: 3 Silos Of Risk

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Welcome to the Managing CRE Risk podcast, where we believe that if you can identify, understand, and manage risk, you can take huge leaps in your CRE journey and find more success along the way. Today, we have an interesting topic to cover. We talk about what risk managers do in huge corporations, and how you can implement their processes into your own business. We guarantee that this episode will shift your concept of how risk works on your properties.

Join us and learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

“Whether you have a risk manager or not, these five steps should be happening in your business.”

Even if you have a small business, you can implement the processes that risk managers do in big corporations. Today, we share with you 5 steps that you should take when you're navigating the risk with your portfolio.

Risk identification.
Look at your properties, contracts, and your relationships with other people and identify where are the weaknesses in your systems.
Risk impact.
Review the physical, relationship, external, and system risks you just identified, and try to understand their impact on your business.
Prioritize.
Find the biggest, most impactful issues in your business that need to be solved the fastest.
Manage the risk.
Address the issues you prioritized and find the solution for them.
Monitor the situation.
Now, that you solved the most impactful issues, make sure to monitor them over time.

Go through this cycle over and over again. In big corporations, risk managers go over this list at least once a year, but sometimes every quarter.

So now, we encourage you to go through these 5 steps to manage the risk in your business. Share your insights with us on social media!

Mentioned in the show:

Shineinsurance.com
Jeremy’s LinkedIn
www.shineinsurance.com/managing-commercial-real-estate-risk
The REI Clarity Framework

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

112: Quadrant Of Risk
110: 3 Silos Of Risk
108: Success Is Built On 3 Es

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have Heather Ewing, a seasoned CRE broker, on the show out of Madison, Wisconsin. Heather works primarily in retail and restaurant and she shares how to attract the best tenants and find the best deals in the triple net world. We also talk about how to properly structure leases and how the retail space is in the current market. You don’t want to miss out on this episode!

Learn more about Heather and her journey at shineinsurance.com/managing-commercial-real-estate-risk!

“I bet on people's wins, not losses. I want people to be successful.”

04:40

Heather has lived in Madison, Wisconsin for over 45 years, so she deeply understands the real estate scene. At the beginning of our conversation, she explains how the market works and why it’s an excellent place to invest in. Even though Madison is a tertiary market, it has a big university and it’s also the state capital city which brings in a lot of retailers and restaurants.

Heather explains how to successfully mitigate the risk in the retail market as a new investor.

Align yourself with a great lender. SBA loans have a much better interest rate.
Find a good broker with a niche in retail.
Look into different grants in your state or nationwide that can help with your business.
Focus on how you structure the lease. A good broker relationship can help you figure out what the market rate is as this is usually not public knowledge.

“A lot of times you can gain the market knowledge by getting out, hitting the streets, and asking questions.”

19:13

Heather shares some mistakes she sees people make in the triple net space. Many new investors don’t get an attorney who is familiar with CRE to negotiate the lease, which can cause many problems in the long term. Another common mistake is not working with service providers who are niched in the investor’s specific asset class.

At the end of the conversation, Heather talks about a couple of entry points for new investors who want to come into the retail space.

Go to different events in the area you are interested in and network with experts.
Be active on LinkedIn and social media and make connections with brokers.

About Our Guest, Heather Ewing

Heather Ewing combined her expertise in Retail Brokerage in downtown Madison and Dane County with her creative capabilities to provide a unique and unparalleled service to Tenants, Owners, Developers and Commercial Investments. Utilizing this experience, Value-Added options for Clients and her role in $151M+ New and Redeveloped Mixed-Use.

Ewing utilizes her 40+ years of living in the Madison area to provide site selection beyond demographics adding the layering of areas history of various eclectic neighborhoods and suburbs and the shopping trends. Clients are guided through the entire brokerage process receiving referrals for attorneys, lenders, etc. as needed. Additionally, this extends into Developments, sharing methods for effective and efficient leasing, building suggestions, and various value-add marketing and branding options.

Mentioned in the show:

www.abstractcommercialrealestate.com
Her LinkedIn
Her Phone Number: (608)-239-4781
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Heather Ewing for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

113: 1031 Exchange In Kansas City, With Alex Olson
111: Answers To Inflation, With Hunter Thompson
112: Quadrant Of Risk

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Welcome to the Managing CRE Risk podcast, where we believe that if you can identify, understand, and manage risk, you can take huge leaps in your CRE journey and find more success along the way. Our guest today is Brian Olson, a real estate broker who specializes in 1031 exchange. In this conversation, we dig into one particular market, Kansas City, and talk about how to find the best deals, create good relationships with brokers, and make sure that you're running your 1031 exchanges correctly. His great advice applies to any market in the country, so you don’t want to miss out on this insightful episode!

Learn more about Brian and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“There are a lot of the reasons why Kansas City's drawn a lot of investors here recently.”

04:04

At the beginning of our conversation, Brian explains how the Kansas City market works and why it’s a particularly good market to invest in. Kansas City is very landlord-friendly, has low taxes, and has many cash-flowing assets.

Currently, every market in the US has issues with the inventory of multifamily properties. The triple net assets are a bit easier to find and have better cap rates. Brian is specialized in 1031 exchange, which has great cashflow opportunities in Kansas City’s stable market.

“In real estate, the brokers are typically not like your used car salesman. They're there to help you and to build a long-term relationship with you.”

14:19

For people who want to invest outside of their states, Brian has some great advice on how to lower their risk.

Get referrals and find a good off-market broker by using your network.
Be proactive. Have constant communication with your broker. Tell them why you like or don’t like a deal and what you’re looking for.
Try to understand the market and have realistic expectations.

“Your Qualified Intermediary, broker, and lender are going to be key team members for you.”

24:54

Brian explains the biggest risk he sees people taking in commercial real estate that creates concern. They overpay 10-50% on smaller assets rather than finding off-market deals. The best way to reduce your risk is to build a relationship with a broker, especially in a 1031 scenario.

The biggest mistake people make around a 1031 exchange is closing out on a property but not putting their funds within a Qualified Intermediary. It’s also important to make sure to know and engage in a market that you're going to exchange into.

About Our Guest, Alex Olson

As a 1031 Exchange Real Estate Agent, Brian helps clients identify and close real estate transactions in the Kansas City market, St Louis Market; and the states of Kansas and Missouri. An expert in assisting buyers and sellers (in-state and out-of-state) looking for multifamily properties in Kansas City, St Louis, Kansas, and Missouri.

Mentioned in the show:

https://xchangecre.com/
His LinkedIn
alex@xchangecre.com
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Alex Olson for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

109: Healthy Partnership Agreement, With Brian Adams
110: 3 Silos Of Risk
The Future Of Commercial Real Estate, With Shannon Robnett

View Details

Welcome to the Managing Commercial Real Estate Risk Podcast with Jeremy Goodrich. This show is all about making great decisions and not being afraid to take big leaps. Today, we expand on our last episode about the 3 silos of risk and talk about the quadrants of risk. Think back at these quadrants when you make CRE decisions to be able to identify and manage the risk and you will exponentially increase the profits in your portfolio.

Join us and learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

“Systems are the foundation under how I mitigate the risk and how I find exponential growth in my journey.”

Today, we expand on our last episode and add one more significant risk factor.

Physical risk.
This quadrant is related to the physical space in your CRE business. Focus on having a good insurance policy to quickly and effectively solve physical damage in your buildings.
Relationship risk.
There's risks to the relationship with your team, tenants, and service provider. Make sure to have solid contracts at the beginning of all your business partnerships to mitigate the risk later.
External risk.
These are the things that are external to your business but have the highest level of effect on it. Market risks, taxes, the political environment, or high prices can all affect your success in real estate.
1. Marketing.
  Silence is death when it comes to business ownership so you have to be known in some way.
2. Sales.
  Sales is the process of closing the deal.
3. Delivery.
  If you’re not delivering on your promises then everything falls apart in your business.
4. Systems.
  Systems are the foundation under how we mitigate the risk. This quadrant has 3 equally important subcategories.

Create a strong business plan that contains all your systems and processes.

So as you look at your journey, what are the things that you feel the least confident in? What are the risks that seem the biggest when you look at that quadrant? Share it with us on our social media pages.

Mentioned in the show:

Shineinsurance.com
Jeremy’s LinkedIn
www.shineinsurance.com/managing-commercial-real-estate-risk
The REI Clarity Framework

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

110: 3 Silos Of Risk
108: Success Is Built On 3 Es
106: Avoiding Analysis Paralysis

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have a commercial real estate heavyweight on the show, Hunter Thompson, who has been in the CRE world for a long time as an investor and capital raiser. In our conversation, we talk about how inflation affects the market, how to raise and protect capital, and why this might be a great time to get into real estate investing. Join us and learn how to be a stellar capital raiser!

Learn more about Hunter and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“Interest rates are rising and it's really impacting deals right now.”

04:15

At the beginning of our conversation, Hunter explains what the word risk means to him.

According to him, the most important factor in protecting investor capital is debt. It’s the determining factor on whether or not investors can get their money back. So they must leverage their investments intelligently because they need to supercharge their returns.

Hunter shares the most common mistakes he sees people making around debt.

Not thinking deeply enough about the loan to value ratio. What's that value based on? How different is the current value of that asset from that future value?
Not having a big enough network, so if things go wrong there’s no help.

“I don't like the “rich get richer” game, but I'm certainly not going to be on the losing side of that discussion.”

11:59

Hunter talks about inflation as one of the biggest risks in the current market. However, for real estate investors, even though their expenses grow with inflation, their income could grow even more significantly.

People who are participating in the real estate market right now will get wealthier and people with fixed incomes will suffer from inflation. It’s important to educate people about passive investing.

“I built up a platform and the louder my voice got, the higher the caliber of people I could attract.“

26:53

Hunter is a seasoned capital raiser. He shares his best advice for new capital raisers coming into the current market.

Find your role in someone’s business who's been doing it longer and has a bigger network.
Use the “fund of funds” model and compile a small group of people into an LLC to be able to raise a more significant amount together.

Hunter has created a coaching program and a free summit called The 100k to Invest Summit where he shares his knowledge together with many real estate professionals.

About Our Guest, Hunter Thompson

Hunter is a full-time real estate investor and founder of Asym Capital (“AY-SIM). Since founding Asym, Hunter has helped more than 400 retail investors acquire over $150,000,000 of mobile home parks, self-storage, retail, office, ATM machines, and cryptocurrency assets.

Hunter is also the host of the Cash Flow Connections Real Estate Podcast which has received over 1,000,000 downloads.

He also wrote Raising Capital for Real Estate which hit #1 on Amazon in Real Estate Sales and Selling.

Mentioned in the show:

https://100ktoinvest.com/register-free
https://asymcapital.com/
His LinkedIn
Hunter Thompson - Raising Capital for Real Estate
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Hunter Thompson for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

109: Healthy Partnership Agreement, With Brian Adams
110: 3 Silos Of Risk
The Future Of Commercial Real Estate, With Shannon Robnett

Raising Capital for Real Estate: How to Attract Investors, Establish Credibility, and Fund Deals

View Details

Welcome to the Managing Commercial Real Estate Risk Podcast, where we believe that if you identify, understand, and manage the risk in your journey, you will exponentially increase the profits in your portfolio. In today’s solo episode, we start to categorize risk and talk about the 3 silos of risk. This will help you understand risk more and make your decision-making faster and more efficient.

Join us and learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

“The quicker we can silo information, the better we can understand it quickly.”

If you've been listening to the solo episodes, you're starting to experience a foundation under which the Managing Commercial Real Estate Risk process works. It's all about decision-making and mindset.

So today, we share with you the 3 silos of risk to help you make decisions quicker and more effectively.

Physical.
This silo is related to the physical space in your CRE business, such as your apartment complex, office, retail space, etc.
Many things can damage these physical spaces from fires to floods, so you have to make a decision on how to manage these scenarios.
Don’t just assume that nothing will happen, have a good insurance policy.
Contracts and relationships.
If you think about the relationships you have in commercial real estate, they are almost all based on contracts.
Contracts have power in a couple of ways. They establish healthy relationships and they can also solve the problem at the time something bad happens.
Focus on creating solid contracts at the beginning of all your business partnerships to mitigate the risk later.
External.
These are the things that are external to your business but affect it, such as inflation, taxes, the political environment, etc. You can't control these factors after the point of purchase.
To mitigate external risk try to educate yourself about the market you’re in as much as possible.

Did we miss anything? Is there a silo that exists and we didn’t mention? Hit the socials, let us know about it, and we’ll be sure to address it in a future episode!

Mentioned in the show:

Shineinsurance.com
Jeremy’s LinkedIn
www.shineinsurance.com/managing-commercial-real-estate-risk
The REI Clarity Framework

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

106: Avoiding Analysis Paralysis
107: Inside An $80M Exit, With Veena Jetti
Rise By Lifting Others, With Nicole Pendergrass

View Details

Welcome to the Managing CRE Risk podcast, where we believe that if you can identify, understand, and manage risk, you can take huge leaps in your CRE journey and find more success along the way. Our guest today is Brian Adams, a syndicator, operator, investor, and former attorney. In this episode, we talk about the importance of contractual relationships, how to set clear expectations with your partners, and build strong teams to mitigate your CRE risk. Listening to Brian will change your thinking around contracts, the relationships you have with your partners, and the people you work with on your CRE investments.

Learn more about Brian and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“When we talk about risk, it's not volatility. When I think about risk, I think about the permanent loss of capital.”

5:23

At the beginning of the conversation, Brian explains what the word risk means to him. He started his career as a lawyer, so he sees “death, disability, and divorce” as the biggest issues that you need to front-run in your personal and business life. That is why he suggests people always have clear contracts when entering a partnership.

The most important things to consider when establishing a partner relationship are the roles and responsibilities. The biggest risk is not establishing a good business plan and losing capital permanently.

Brian recommends having independent third-party counsel representing each partner’s interests in the contract negotiation and not just one general corporate counsel.

“When you go into partnerships, you're working with a human. And people are irrational, unpredictable, and they change.”

22:53

Brian shares his advice on how to adjust the structure if you are in an already established partnership.

Review your real estate documents and contracts every few years.
Create a clear plan for the next quarter, year, and 5 years.
Do regular check-ins with your business partners to see if you’re still aligned on the same goals.
Be open and transparent about your goals.

“Just hoping for time to solve the issue never works.”

29:57

At the end of the conversation, Brian talks about how to address your business partners if you want to end the partnership.

In case you don’t have the proper documents or contracts in place, hire a third-party counselor to mitigate the situation.
Don’t wait for the partnership to change because time won’t solve this issue.

About Our Guest, Brian Adams

Brian C. Adams is the President and Founder of Excelsior Capital, where he spearheads the investor relations and capital markets arms of the firm. He has 10 years of experience in real estate private equity. Prior to forming Excelsior Capital, Brian co-founded Priam Properties (an institutional real estate private equity sponsor) in 2010 and provided leadership and direction for the firm in connection with capital markets, investment management, and investor relations.

Mentioned in the show:

www.excelsiorgp.com
His LinkedIn
Colloquium Podcast
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Brian Adams for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

View Details

Welcome to the Managing Commercial Real Estate Risk Podcast, where we believe that if you identify, understand, and manage the risk in your journey, you will exponentially increase your profits. Today, we’re talking about how to make good decisions. Jeremy breaks down the process into the “3 Es”, the foundation of every great decision.

Join us and learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

“Your network is your net worth. There are lots of different ways to say it, but the bottom line is that the people around you make your journey scalable.”

Today, we talk about the “3 Es”, the foundation of every good decision. No matter where you are in your journey, you’re probably already engaging with all these Es on some level.

Our challenge for you is to think about where are you having success and where are you struggling on this 3 E journey. Share your insights with us on our social media pages!

If you haven't built out your 20-year plan, we recommend you do so. Imagine yourself 20 years from now at the Thanksgiving dinner. Who’s sitting around the table? How’s your relationship with those people been over the course of time? If you have a clear 20-year vision then you can work your way back and create solid 10-year, 5-year goals. Try it.

Let’s dig into the foundation of every good decision, the “3 Es”.

Education.
This is the easiest to access and it is entirely based on your capacities. How are you educating yourself on the journey you’re at?
Experience.
Education alone will never get you to success. Many people are stuck on the education piece and never move on to the second E.
Take the leap, buy your first property, pull the trigger on a deal, and get some experience.
Entourage.
Your entourage is 100% how you scale. It is scalable, and this is where success is found on a higher level. Your entourage is the people you put around you. A good exercise is to think about your team members and ask yourself - are they the right people in the right seats? Sometimes, changing up your entourage a little can make a world of a difference.

What do you think of these 3 Es? And where are you on your journey? Share it with us, and see you next Tuesday!

Mentioned in the show:

Shineinsurance.com
Jeremy’s LinkedIn
www.shineinsurance.com/managing-commercial-real-estate-risk
The REI Clarity Framework

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

106: Avoiding Analysis Paralysis
107: Inside An $80M Exit, With Veena Jetti
Rise By Lifting Others, With Nicole Pendergrass

View Details

Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. We have a returning guest for today who is an absolute beast in the multifamily world, Veena Jetti. In this episode, we talk about how she creates safe deals, finds good property managers, and has an exit plan that mitigates her risk. By the end of this conversation, you’ll gain insight into how to identify, understand, and manage risk and why it is crucial to have a solid exit plan from the very beginning. Join us!

Learn more about Veena and her journey at shineinsurance.com/managing-commercial-real-estate-risk!

“I can make more seemingly aggressive decisions for our portfolio because I know enough about this field.”

03:59

At the beginning of the conversation, Veena explains what the word risk means to her. According to her, without risk, you can’t have reward. However, she considers herself risk-averse and underwrites conservatively for her investors.

Veena is an expert in commercial real estate investing so she can make more aggressive decisions because she thoroughly understands the risks involved. She also has a diverse personal portfolio with IRAs, mutual funds, precious metals, and occasionally tech start-up investments.

Veena’s advice to mitigate the risk in your investing journey is to surround yourself with experts in each field and create a strong team.

“Doing an $80M deal wasn't really fundamentally that different from doing a $20M deal. It actually was a little bit easier, because we had all our scale in one place.”

11:39

Veena is involved in bigger deals with 400-600 door properties. Her first bigger deal was an $80M deal at the beginning of the pandemic. She shares how she mitigated the risks to succeed in this significant deal.

Her team walked every unit of the property even during COVID.
They underwrote the property way more conservatively than usual.
They increased their reserves to be able to allocate more capital for possible vacancies.

“Anything can happen the longer you hold an investment. It's always better to get dollars back in your pocket sooner rather than later.”

19:21

Veena explains how a lot of value-adds or forced appreciation comes after the exit. That is why they don’t just look at the cash flow when deciding on exiting a deal. They evaluate the market risk and exit sooner than later if possible.

When planning an exit, Veena looks at all possible outcomes and compares them to each other. The most important is which opportunity is the best for their LP investors.

At the moment, Veena is interested in new dev multifamily, self-storage, and warehouses mostly in Texas, Florida, Georgia, North Carolina, South Carolina, and Arizona.

About Our Guest, Veena Jetti

Veena Jetti (VEE-nuh JEH-tee) is the founding partner of Vive (rhymes with "five") Funds, a unique commercial real estate firm that specializes in curating conservative opportunities for investors. Veena brings a dynamic perspective to targeting, acquiring, managing, and operating assets using best practices combined with cutting-edge technologies. Her professional expertise includes driving corporate strategy and business development opportunities.

After graduating from the University of Illinois at Chicago with a degree in Finance at 20 years old, she pursued her passion for real estate. Veena has over a decade of real estate experience and over $1B+ in real estate assets over her career in both the startup world as well as the corporate world. Because of her diverse background, she is often a panelist and speaker for various podcasts, global conferences, and radio shows.

Mentioned in the show:

https://vivefunds.com/
info@vivefunds.com
Her LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Veena Jetti for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

How To Work A 400 Unit Deal, With Veena Jetti
103: Should I Wait To Buy Apartments? With Jason Yarusi
Why A Powerful Vision Matters, With Jasmine Ortiz

View Details

Welcome to the Managing CRE Risk Podcast with Jeremy Goodrich. Today, we dig into a topic that comes to the surface right from the beginning when we start thinking about risk - analysis paralysis. We talk about why you shouldn’t have a 100% analysis before making a decision and how to identify all of the most crucial risks.

Join us and learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

“Your thoroughness is going to be better. And at the same time, you will still have high efficiency, because you'll have studied beforehand about how this stuff works.”

Many commercial real estate professionals get into analysis paralysis at one point in their investing journey. Analysis paralysis is the inability to make a decision due to over-thinking a problem.

We all want to identify and understand the risks and truly know how to manage everything fully in our minds before we take any action. The problem with this approach is that if we go too extreme on it, we become too slow and miss out on opportunities. This means really low efficiency and an incredible slowness.

The other side of the spectrum is low thoroughness and high efficiency. Here you maybe only identify 10% of the risk, but you just keep moving forward. However, not identifying the potential risks sometimes means that that step forward might create two steps back.

So how can we avoid losing opportunities because of our slowness or getting into situations that are too risky for us? We have to make sure that our team and our decision-makers understand, identify, and are able to manage the risk.

Practice this method with small decisions first. Many people try to make gut decisions when it comes to real estate investing because they haven’t practiced identifying and managing risks. That can be dangerous.

As you think about your decision-making process right now, where are you on this spectrum? Are you high thoroughness, low efficiency, or low thoroughness, high efficiency? Let us know!

Mentioned in the show:

Shineinsurance.com
Jeremy’s LinkedIn
www.shineinsurance.com/managing-commercial-real-estate-risk
The REI Clarity Framework

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

104: Making Sound Multifamily Decisions
100: Introducing Managing Commercial Real Estate Risk
101: Creating Good Deals, With Tim Bratz

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Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have a seasoned investor with us, Agostino Pintus. Agostino is a multifamily investor, syndicator, and entrepreneur who really figured out how CRE can work best. In this conversation, we talk about how to diversify your portfolio thoughtfully and intentionally, how to make safe investments, and the difference between fear and risk.

Learn more about Agostino and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“I want to make sure that the deals that my investors and I are getting involved with are good, safe deals.”

04:33

At the beginning of the conversation, Agostino explains what the word risk means to him. According to him, the level of risk people take is rooted in their fear. To eliminate fear, we have to educate ourselves and start with lower-risk deals.

Agostino diversifies his deals to make them overall less risky. His 3 different asset classes have 3 very different types of returns. His assets classes are:

Stabilized multifamily properties. They fix up value-add B and C class properties and hold on to them for cash flow. The investors get a quarterly return.
Development deals. This is either ground-up or redevelopment. The investors get a quarterly return after the property is leased.
Single-tenant Net Lease assets. These are corporately backed by publicly traded companies and therefore safer investments. The investors get a monthly return.

Cash flow is crucial for Agostino when evaluating a deal. Appreciation is just an added value. That is why he invests in Cleveland because it is a good cash-flow market.

“Fear comes from a lack of understanding. When you spend the time understanding what's going on in a market, and you build the right relationships, you can mitigate that.”

23:18

Agostino doesn’t charge an acquisition fee on any of his deals because he wants to be competitive for his investors. His advice is to take a lower acquisition fee to show your investors that you’re motivated throughout the whole deal.

Agostino is mitigating his CRE risk by educating himself, building a strong team, and aligning himself with the right people. That is why he’s able to manage large decisions in a way that might seem bigger than they really are from the inside.

About Our Guest, Agostino Pintus

Agostino Pintus is a multifamily investor, syndicator, and entrepreneur with more than 15 years of experience in real estate. He currently oversees strategic partnerships, capital development, and platform development for Realty Dynamics Equity Partners, an investment firm specializing in multifamily acquisition and asset management services.

Mentioned in the show:

www.bulletproofcashflow.com
His LinkedIn
Bulletproof Cashflow Podcast
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Agostino Pintus for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

Mindset And Manifesting REI Success, With Agostino Pintus
How To Build A Diverse Portfolio, With Jason Mittman
How To Acquire Multiple $90M Properties A Year, With Dan Handford

View Details

Learn more about Agostino and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“I want to make sure that the deals that my investors and I are getting involved with are good, safe deals.”

04:33

Agostino diversifies his deals to make them overall less risky. His 3 different asset classes have 3 very different types of returns. His assets classes are:

Stabilized multifamily properties. They fix up value-add B and C class properties and hold on to them for cash flow. The investors get a quarterly return.
Development deals. This is either ground-up or redevelopment. The investors get a quarterly return after the property is leased.
Single-tenant Net Lease assets. These are corporately backed by publicly traded companies and therefore safer investments. The investors get a monthly return.

Cash flow is crucial for Agostino when evaluating a deal. Appreciation is just an added value. That is why he invests in Cleveland because it is a good cash-flow market.

“Fear comes from a lack of understanding. When you spend the time understanding what's going on in a market, and you build the right relationships, you can mitigate that.”

23:18

About Our Guest, Agostino Pintus

Mentioned in the show:

www.bulletproofcashflow.com
His LinkedIn
Bulletproof Cashflow Podcast
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

Mindset And Manifesting REI Success, With Agostino Pintus
How To Build A Diverse Portfolio, With Jason Mittman
How To Acquire Multiple $90M Properties A Year, With Dan Handford

View Details

Welcome to the Managing CRE Risk Podcast with Jeremy Goodrich. Today we dig even deeper into understanding the risk in commercial real estate. Jeremy shares some examples and practical advice about how to recognize the risk and successfully manage it.

Join us and learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

“How do you understand the risk, learn to manage it, and then pull the trigger on the decisions that you're making?”

Earlier this week we talked with Jason Yarusi about investing in apartment complexes. Even though this asset class is pretty tight right now, there are still many opportunities to invest successfully. Jason’s advice was to step outside of the box and find underperforming properties.

When you expand your perspective and look into underperforming properties, you may find something that you hadn't considered before. It may even be that the property is actually in really good shape. But you have to be more creative, underwrite more clearly, and do your due diligence in an exponentially more profound way.

Your perspective on what makes a good deal should be based on clear underwriting, a clear philosophy on what you believe is profitable, and some historical experience associated with that idea.

So this week, we invite you to deeply think about your underwriting process. What are you doing to change your approach and expand your idea of what works? Are there ways to expand even more? Let us know what you found!

And don’t forget to join us next Tuesday when we chat with a returning guest, Agostino Pintus, an investor in Cleveland. Agostino does development and stabilized deals in multifamily, and triple net deals through a fund. We guarantee that you’ll love that episode!

Mentioned in the show:

Shineinsurance.com
Jeremy’s LinkedIn
www.shineinsurance.com/managing-commercial-real-estate-risk
The REI Clarity Framework

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

102: Two Steps To Every Big Decision
100: Introducing Managing Commercial Real Estate Risk
Mindset And Manifesting REI Success, With Agostino Pintus

View Details

Welcome to the Managing CRE Risk podcast, where we believe that if you can identify, understand, and manage the risk, you can take huge leaps in your CRE journey and find more success along the way.

Our guest today is Jason Yarusi, a real estate syndicator and investor with over 1100 units in the Midwest. In this conversation, we discuss how to identify risks on the operation side and how to be an exceptional manager. We also talk about where the market is heading and if it’s a good idea to acquire at the moment.

Learn more about Jason and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“We need about 15 million homes for the decade between 2020 and 2030 but at this pace, we’ll only build about 11 million. So we have a way to go.”

04:36

At the beginning of our conversation, Jason shares the biggest risks in the current market.

According to him, on one hand, the market has high prices, so many investors are afraid that they could fall off soon. On the other hand, we still have a tight supply so the prices will probably stay high for a while.

Jason is still acquiring new units. He usually looks at 75-150 unit properties but in recent years he’s become more opportunistic and sometimes considers smaller deals.

“You have to be open to pivot and just really constantly assess where you stand.“

14:06

Jason has more than 1100 doors, so he’s dealing with asset management a lot. He explains that the biggest risk to success in asset management is not tracking your processes.

He has regular calls with his management groups and constantly reevaluates the management plans to make them more successful. It’s crucial to have strong values and shared direction across all the management teams.

Jason’s advice on how to make good investment decisions in this market is to either know the community or know someone who knows the community in the area you’re investing in. It’s very important for him to make the community a better place by making thoughtful renovations and bringing money back to the neighborhood.

About Our Guest, Jason Yarusi

Jason is the founder of Yarusi Holdings with his wife Pili. They have over

acquired over 1110 multifamily units since 2017. He is an avid ultra

runner and workout enthusiast. Hosts The Multifamily Live

Podcast. W akes up daily at 4:32 am. Is an Aspiring Ukulele Player.

And most importantly Father of three amazing kids and husband.

Mentioned in the show:

https://www.yarusiholdings.com/website
Jason’s LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Special thanks to Jason Yarusi for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast If you enjoyed this episode, then you’ll love these ones:

101: Creating Good Deals, With Tim Bratz
The Future Of Commercial Real Estate, With Shannon Robnett
The 3 Principles Of Successful Investing, With Clint Coons

View Details

Welcome to the Managing CRE Risk Podcast with Jeremy Goodrich. In today’s solo episode, we talk about the importance of understanding risk and learning how to manage it. Jeremy shares a story about managing risk, we discuss ways to truly understand the risk in your CRE business, and we even have a little exercise for you at the end.

Join us and learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

At the beginning of the episode, Jeremy shares a childhood holiday story about a friend who didn’t realize the risk of a suspiciously cheap sunscreen. The story shows how we need to be able to see and understand the risk in every aspect of our lives in order to manage it effectively.

If you are a commercial real estate investor then you come across many risks in your business that you need to recognize and understand.

Understanding the risk is usually the hardest part. However, there are no new problems in the world anymore. Everything has been a problem before and anything worth solving has already been solved.

Once you understand the risk, you have to manage it. Managing the risk is not always easy either, but it's always doable.

Our challenge for you today is to take the biggest issue you’re dealing with and ask yourself if you truly understand what the problem is and what’s the risk of failure or success in this situation.

Write down what you do or don't understand and what actions you're going to take to understand the problem better. Then think about the next steps you can take to manage this issue.

Mentioned in the show:

Shineinsurance.com
Jeremy’s LinkedIn
www.shineinsurance.com/managing-commercial-real-estate-risk
The REI Clarity Framework

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

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Welcome to the first interview episode of the Managing Commercial Real Estate Risk podcast. Today, our great guest is Tim Bratz, a real estate investor and coach. In this episode, we dig deep into Tim’s investing strategy and how he manages risks. We talk about seller financing, how to navigate the current state of the market, and preparing for the biggest CRE risks.

Join us and elevate your investing game!

Learn more about Tim and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“You don't go to the gym and start benching 300 pounds right away, you have to work your way up.”

05:30

Tim got interested in real estate investing in college around 2007. He moved to Charleston, South Carolina and started investing in residential real estate soon after graduating. In 2012, he bought his first apartment building.

Currently, Tim has around 4000 doors and coaches other investors on how to succeed in real estate.

“Anybody can play with the numbers and make a deal look good on paper. You got to do your own due diligence.”

11:36

According to Tim, the biggest risk in the current market is the short-term mindset. Many investors are not disciplined enough and force a deal to happen.

Here are ways to mitigate this risk:

Stress test all the numbers during your underwriting.
Don’t use flat taxes and be conservative.
Run the rental comps and the expenses.

In the current sellers’ market, many people buy high. Tim shares his advice on how to succeed in this environment.

If you don’t have a big portfolio built up and you don’t know many brokers in your area yet, then go off-market. Reach out to sellers directly.
Find hairier deals in B or C class properties.
Look around in secondary markets.

“The seller is an investor, right? And they're already comfortable with their asset and the location.”

28:25

At the end of our conversation, Tim talks about how he sets up a deal to make it work for the seller by using seller financing. He asks the seller for an additional 20% on top of what he gets from the lender and essentially makes them the investor. This way he reduces the cost and unlike in syndication, he doesn’t give away almost any of the equity.

About Our Guest, Tim Bratz

Tim began his career in the competitive New York City real estate market working as a broker leasing ground floor retail units. Here, he saw the true potential of real estate to transform lives. Although Tim was limited in means, he spent his time reading, attending workshops, and networking with accomplished entrepreneurs learning that being resourceful was the ultimate path to becoming successful.

With this knowledge, Tim embarked on building his real estate company in Charleston, South Carolina, where he had relocated in search of a better quality of life. Arriving in 2008, after the real estate bubble burst, Tim quickly adapted and using a credit card, increased his limit and then wrote himself a balance transfer check to acquire the cheapest property he could find. Armed with his personal investment and plenty of sweat equity, Tim transformed a rundown duplex and turned a profit on his first deal. He then took those proceeds and reinvested them, while seeking private capital to expand his growing company. Today, Tim still uses this formula for success, which all starts with being resourceful and having the right mindset.

Mentioned in the show:

commercialempire.com
legacywealthholdings.com
Tim’s LinkedIn
Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we'll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/

Special thanks to Tim Bratz for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

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Today, we have a huge surprise for you! The REI Clarity show is transforming into the Managing Commercial Real Estate Risk podcast. We’re shifting our focus to managing CRE risk and learning how to take bigger risks successfully.

Join us on this new journey!

Learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

“Being able to take risks is the key to success, we have to take risks.”

Over the course of the last two years, we interviewed some of the best real estate investors out there and gained information on how to take the leap from part-time investing to full-time investing. Outside of the podcast, as an insurance advisor, Jeremy is also talking with hundreds of clients about the hardships they’re facing in their work.

During that time, we’ve heard a recurring theme throughout every conversation - RISK.

Understanding risk is the key to unleashing the profits of a commercial real estate deal and ultimately creating a successful commercial real estate portfolio. We want to pivot this show to speak directly to that. We're saying goodbye to the name, REI Clarity, and moving on to the Managing Commercial Real Estate Risk podcast.

Jeremy’s going to be interviewing asset managers and seasoned investors, asking them specifically about the risks they take and how they find success while managing and mitigating those risks.

We’re super excited about this shift as we feel like it moves us closer to where our knowledge base is, where our understanding is, and where we can provide true insight for you.

We want to help you to elevate your game and unleash your profits by managing the risks you take.

Can't wait to go on this journey with you. It's going to be an exciting one! We'll see you in the next episode.

Mentioned in the show:

Shineinsurance.com
www.shineinsurance.com/managing-commercial-real-estate-risk
The REI Clarity Framework

Learn how to manage the risk and unleash your profits the right way! Visit us here for everything you need to know: shineinsurance.com/managing-commercial-real-estate-risk.

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

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Let’s dig into passive real estate investing! Our guest is Matt Picheny, a real estate investor with thousands of doors and author of the best-selling book: Backstage Guide to Real Estate. In this episode, we talk about what to look out for in a sponsor, how to find the right market, and how to evaluate a good deal.

If you want to be a passive investor and learn more about underwriting, then we guarantee that this episode will help you!

Learn more about Matt and his journey at reiclarity.com!

“You should invest in things that you know and love.”

03:03

Matt is an investor with a huge portfolio. He’s passively invested in about 6000 doors and an active investor in 2300. According to him, real estate is relatively low risk with a potential of high reward. The key to mitigating the risk is to properly underwrite the property.

Matt believes that people should invest in things that they know. He was an actor for 5 years so he also invests in Broadway.

“Never put more than 5% of your net worth into any single deal.”

14:08

Matt wrote a book called Backstage Guide to Real Estate where he shares his tips and tricks on passively investing in real estate.

He explains the 3 key aspects of a deal that should be evaluated and underwritten.

The sponsor
1. Look into the sponsor’s track record in real estate and business in general. If this is your first passive investing deal, then choose an experienced sponsor.
2. Learn about the exit strategies. If there’s only one, that can be a potential red flag.
3. Be aware of the sponsor's involvement in the deal. You want them to be involved in the deal and not just raise money.
The market
Location is key when it comes to a good deal. Find different submarkets within an area. Look for data about employment history, population growth, educational demographics, and household income in the 10, 5, and 1-mile radius of the property.
1. Exit cap rate. Look for a higher cap rate when you’re buying the property and a lower exit cap rate. A little shift in that cap rate can greatly affect the valuation of the property.
2. Projected rent growth.
3. Projected insurance.
4. Projected taxes.
5. The deal itself
  The main things to look out for in the deal:

Mentioned in the show:

www.picheny.com
Matt Picheny - Backstage Guide to Real Estate
His LinkedIn
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Matt Picheny for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Today we’re talking with an investor who is at the top of his game. Our guest is Ryan Webster, the founder of Equity Yield Group, which has $250M in assets under management. In this episode, we talk about how to transition from the development side to managing existing properties, the key fundamentals of finding a good deal, and how institutional money works.

If you’re looking to acquire stabilized assets and grow your portfolio significantly, then tune in to our conversation!

Learn more about Ryan and his journey at reiclarity.com!

“There's a lot of inherent execution risk and market cyclical risk on the development side and I wanted to mitigate that.”

02:31

Ryan started on the construction side of real estate and had a construction development company. Over the years, he moved around within the industry and finally landed on the acquisition of stabilized assets.

Ryan talks about the difference between being on the development side and being an asset manager. Development has a significantly higher risk factor but it can have a better return. Stabilized assets are more predictable and reliable with a smaller potential return. The tax benefits are better with stabilized assets.

“I think it's important to focus on the fundamentals of business and real estate investing and not just buying things because cap rates are compressing and the market is going crazy right now.”

8:52

Ryan’s company is acquiring 100+ doors in the large multifamily space. He finds investors through syndication and his investors range from retail to institutional investors.

Ryan shares his key fundamentals when looking for a deal:

Stable population growth.
Diverse and growing job market.
Areas with not a lot of land to avoid new development.

“Real estate is a great asset class - it's always been a very low-risk stable investment and one of the greatest wealth builders over time that comes with maximum tax benefits.”

21:06

Ryan talks about the exit piece in his business plan. He always plans a 5-year hold with his properties. The actual exit is determined by the market conditions and asset performance.

A long-term hold is not always possible with institutional investors as they usually have some control over the exit terms.

Mentioned in the show:

https://equityyieldgroup.com/
His LinkedIn
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Ryan Webster for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

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Our guest is Tim Vest, a multifamily investor with over 100 doors and the founder of Harvest Properties Group. In this episode, we talk about Tim’s investing journey, how to build your multifamily portfolio, and different strategies to succeed in the industry. If you’re planning to take the leap from single-family to multifamily investing, then this episode is a must for you!

Learn more about Tim Vest and his journey at reiclarity.com!

“I saw the power of real estate and the effect it had on my money, and that just got me going.”

02:26

Tim was always entrepreneurial. After graduating college, he started working in the tech industry. Soon, he got interested in real estate investing and jumped into land development around 2006. Ever since, real estate investing has been Tim’s wealth strategy.

Tim is doing angel and crypto investing, but real estate is his primary source of income. For him, it’s the safest investment because it builds cash flow today but can also create generational wealth.

“There's a million ways to get a deal done. And in every one of those scenarios, there's a way to participate.“

13:19

Tim is still working in a tech company but he’s planning to leave this W2 job in a few months. Even though he makes a good income, he rarely uses his own capital for his deals.

He‘s involved in syndications and JV deals. According to him, there are many ways someone can participate in a deal. Sometimes it’s bringing the money, but sometimes it’s finding the deal or bringing sweat equity.

“I'm not saying capital is not important but right now there's a huge premium on good deals.”

21:59

Tim is in the multifamily space. He talks about his experience with the industry in recent years. According to him, the focus has shifted from finding the capital to finding the deal.

Tim’s advice on how to find good deals:

Have a good relationship with smaller brokers.
Don’t get into deals where the seller asks for hard earnest money. However, if the deal makes sense, build in a 30-day period or more before the deposit goes hard.
Build a good relationship with your service team, like your property managers, insurance advisor, and accountants, as they can help you with your next deals.
Underwrite deals very conservatively.

Mentioned in the show:

https://harvestpg.com/
His LinkedIn
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Tim Vest for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Curtis May, wealth advisor and the owner of Practical Wealth Advisors LLC. Today, we continue the financial advice from last week and dig into personal finance. We talk about how to build smart financial foundations, the 5 pieces of a good financial plan, and the rules of successful investing.

Join us and elevate your personal finances!

Learn more about Curtis May and his journey at reiclarity.com!

“The financial plan precedes the business plan or the investment plan.”

03:08

Curtis was always entrepreneurial. After reading Rich Dad, Poor Dad, he got very interested in finance and became a wealth advisor about 10 years ago.

Curtis is helping people understand the difference between the accumulation of money and the velocity of money. According to him, many people accumulate funds through 401(k)s, IRAs, or mutual funds that only make a little return on investment. The risks are that there are too many moving parts, like a fluctuating market, government regulations, taxes, and depreciation. Curtis’s advice is to invest in real estate and create velocity.

“You can't get homeowners insurance if your house is on fire, right? You can't set up a corporation trying to move your stuff around. You have to do it while you don't have anything going on.”

14:52

Curtis shares the 5 principles of personal finance to create velocity and eventually financial freedom.

Savings. Have safe, liquid, accessible, and guaranteed funds, generally around 15-20% of your gross income.
Maximum protection. Use insurance, LLCs, and estate planning to protect your assets.
Legacy of wisdom and wealth. Have a well-planned life insurance plan to protect your legacy.
Liquidity. Have 3 months of income available on your bank account to be able to access it quickly.
Velocity. Plan out different investment strategies to create more cash flow.

You can grow all these different areas at the same time. One strategy that Curtis is teaching is infinite banking.

“Banking principles drive strategy and strategy drives tactics.”

30:35

Curtis talks about the 3 rules of investing.

Invest in your number one asset, yourself. Work on your expertise, your mindset, and your skillset.
Invest in something you can influence the outcome of and that will cash flow. Entrepreneurs solve problems for others.
Don’t chase returns.

Mentioned in the show:

practicalwealthadvisors.com
The Practical Wealth Show
Text “Be the bank” to 55444 to subscribe to the Practical Wealth Advisors newsletter
His LinkedIn
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Curtis May for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Let’s talk about cash flow today. Our guest is Chris Miles, cashflow expert, “anti-financial advisor”, and the founder of Money Ripples. In our conversation, we talk about how to analyze investments, the relationship between cash flow and appreciation, and how to make sure that cash flow is king - as we all know.

Whether you’re an active or a passive investor, this episode will help you assess your cash flow better.

Learn more about Chris and his journey at reiclarity.com!

“The next thing I know, I went from a millionaire to an upside-down millionaire in 2008. I actually ended up being over a million dollars in debt.”

03:29

Chris started his career as a financial advisor, but he learned that the traditional way of advising people about their finances just didn't make sense for him. So he pivoted to real estate investing in 2006.

Soon, Chris became a very successful investor. His strategy was appreciation play so he acquired many higher-priced properties, waiting for them to appreciate. However, during the 2008 financial crisis, he lost almost all his investments and ended up being over a million dollars in debt. This taught him a lot of lessons. The two most important were to not count solely on the appreciation of a property and to track his money.

“One of the worst things I did was locking up my equity in my house when I could have kept that money in cash reserves.”

13:26

Chris started a company that provides financial advice, Money Ripples, in 2012, using the lessons he has learned during his real estate career. He shares a few tips on how to create more cash flow.

Get your money out of “prison”. Get out of the equity of your home, the stock market, and especially 401(k)s and IRAs.
Invest in real estate, as that is one of the safest true assets that not only give you great tax breaks but massive cash flow as well.
Be diversified to a degree, but make sure you’re still able to manage your investments. Don’t be overly diversified.

Chris talks about unconventional ways to invest. One of these is investing in life insurance. If the whole life policy is set up correctly, it not only has the common death benefit but also acts as a kind of bank account. It generates around 3-5% interest, it’s not getting taxed, and you can borrow from it.

Chris’ advice is to have a limited amount of equity in your properties and use that cash instead to purchase more and grow your asset base. Low-risk equity is better than high-risk cash flow.

“Don't make one-year, two-year, three-year goals. Just focus on the next step, that's all you need to know.”

31:36

At the end of the episode, Chris picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Forecast Your Future”.

According to Chirs, the biggest problem people have is that they don’t really understand where they’re going in life. You have to be clear about the direction you’re headed so you can always plan the next step.

Mentioned in the show:

https://moneyripples.com/
The Chris Miles Money Show
His LinkedIn
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Chris Miles for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Jacob Vanderslice, a real estate developer and investor with a diverse portfolio. In this conversation, we dive deep into succeeding in closing. We talk about the different ways to fund your deals, the benefits of self-storage investing, and what it's like to connect with institutional investors. Don’t miss out on this episode!

Learn more about Jacob and his journey at reiclarity.com!

“We're not seeing appraisal misses on the self-storage front.”

05:17

At the beginning of our conversation, Jacob explains the basics of a commercial real estate transaction and the closing process that he follows.

Underwriting.
Submitting the letter of intent to the seller.
Executing the contract.
Depositing the earnest money (typically between $50k to $500k).
Due diligence and ordering a variety of third-party reports about the property.

The appraisal is a very important part of the closing process. An appraisal is designed for lenders to get third-party validation on the value of the property.

“We think the definition of wealth is durable, recurring revenue that gives you an above-market yield.”

11:22

Jacob has a very diverse portfolio and a big part of it is self-storage. According to him, self-storage has historically been very resistant to recessions and downturns and the revenue stream is very granular and dynamic. His company got into this asset class in 2015 and has only sold 1 out of their 35 self-storage facilities due to the steady cash flow.

“Raising capital is all about creating credibility. You’re not pitching or asking for money, you're educating someone on the asset class.”

22:10

Jacob explains the difference between a syndication and a fund. Syndication is getting into one single deal, while funds are investing in a collection of assets. Syndications tend to be a bit more flexible.

Jacob likes the fund system and he has self-storage funds. Their first fund was just $10M and their most recent one was around $40M. This is a small amount compared to when institutional investors are involved, as those funds can be around $300M.

Mentioned in the show:

https://www.vanwestpartners.com/
His LinkedIn
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Jacob Vanderslice for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Shannon Robnett, a real estate developer and syndicator with over 35 years of experience. In this episode, we talk about the future of commercial real estate. Shannon shares his investing journey, how to adjust to changes in the industry, and why tokenization might be the next big thing in REI.

Start 2022 right and plan out your next steps with the help of this conversation!

Learn more about Shannon and his journey at reiclarity.com!

“Solving your own problem is a very very smart thing to do because you need to be able to take care of that instance when something doesn't go right.”

03:26

Shannon is a fourth-generation realtor. For a while, he didn’t want to work in the industry, but after college, he realized how lucrative real estate was. In his 35-year real estate journey, Shannon has done construction projects, worked as a developer and multifamily asset manager, and invested in many deals.

Over the years, Shannon learned the importance of understanding every part of real estate investing, the benefit of building a team, and paying people more for the additional value.

“Tokenization creates a liquidity in that marketplace that I think the world is really craving.”

12:28

Shannon has invested in the Boise, Idaho market for most of his career. In 2020, Boise was noted as the least affordable market in North America. This made Shannon change his strategy and he’s now venturing out to other states and more industrial types of deals.

Shannon is building a tokenization platform for real estate which is utilizing blockchain technology. Tokenizing real estate has many advantages including increased efficiency, liquidity, and diversification.

“You can call it “forecasting your future” but I call it building your processes that keep you out of trouble.”

36:50

At the end of the episode, Shannon picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Forecast Your Future”.

According to Shannon, the more systems and processes you have in place to take out the variables, the better you can forecast your future. Focus on building solid processes and follow them step by step.

Mentioned in the show:

shannonrobnett.com
https://www.myverticalequity.com/
His LinkedIn
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Shannon Robnett for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Susanne Mariga, a CPA, tax coach, chartered global management accountant and certified Profit First accountant. Today, we dive deep into entrepreneurship and the processes that you have to employ around keeping your money. Susanne gives us a clinic on how to keep your money with a method called “Profit First”, how much money you should spend on owners’ pay, and why you need to create the “illusion of scarcity” in your business.

Learn more about Susanne and her journey at reiclarity.com!

“Profit has to be intentional, the bottom lines have to be engineered before you even start your business.”

03:47

Susanne started working in her father’s CPA firm as a bookkeeper at age 14. She fell in love with the financial world and went on to become a certified public accountant and Profit First accountant.

Susanne shares the Profit First method that she uses in her business and coaches other business owners. Profit First is a cash management system, not an accounting system. It's designed to force intentional profitability and intentional owners’ pay.

How the Profit First method works:

As humans, the more we have, the more resources we’re going to use. That is why profit has to be intentional and accounted for in the business. The first step is to figure out how much money you want to make and then re-engineer your strategy backward.
You have to create the “illusion of scarcity” by creating different bank accounts inside the business. These bank accounts are for the revenue, profit, owners’ pay, tax obligation, and operating expenses.
Only use the operating expenses bank account for your expenses to avoid overspending.

For a healthy small company with under $250k revenue, around 70% of the revenue should go to owners’ pay and 30% for operating expenses. By the time the company reaches about $10M revenue, only 35% should go towards the owner.

“Minority business owners, even the ones that make 6-7 figures in gross revenue oftentimes do not even take home $100k.”

24:31

Susanne is very passionate about helping minority entrepreneurs succeed in their businesses. She recently wrote a book to help and educate them called Profit First for Minority Business Enterprises.

Susanne wants to empower business owners not only in the US but worldwide. That is why $1 for every book that is sold is going towards a scholarship for sending girls to school in Zimbabwe. Within the first 30 days of launching her book, she funded 22 scholarships.

“The reality is that growth only happens intentionally.”

41:27

At the end of the episode, Susanne picks an action step from the REI Clarity Framework that is the most valuable to her. This is “Find the Money”.

According to Susanne, finding the money for investing starts with your purpose. Define what winning looks like for you and what your end goal is. Then work backward and budget for the things that are important for you.

Mentioned in the show:

https://susannemariga.com/
Susanne Mariga - Profit First for Minority Business Enterprises
Profit First Masterclass
Her LinkedIn
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Susanne Mariga for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Josh McCallen, a capital syndicator, hospitality investor, and conference speaker. We had a great conversation with Josh last year and now he’s returning with even more wisdom. In this episode, we dig deep into hospitality. We learn about how to build the foundation of your REI strategy so you can succeed through hard times, taking care of people in your business while staying profitable, and thinking outside the box when it comes to real estate investing.

Learn more about Josh and his journey at reiclarity.com!

“Here's the deal - none of us caused COVID but we all had to make a choice how to deal with it.”

03:01

Josh and his wife, Melanie, purchased Renault Winery and Resort with a group of investors at the end of 2018. In our last conversation with Josh, we talked about the struggles of COVID in hospitality and how they planned to overcome them. Now, around a year later, they made it through the pandemic successfully and their resort is fully booked until 2023.

Josh made many profitable changes in his resorts during the pandemic. By the end of 2020, they made $2M additional revenue and they continue to grow.

“We try very hard to build good teams, that's pretty much my calling in life is to build teams.”

15:45

Josh talks about his investment strategy around Renault. At the end of 2018, their plan was to modestly update the property and sell 100 weddings a year. However, in their first year, they sold 250 weddings. This prompted them to update the property even more.

Renault has around 350 investors. They raised $20M+ in the last 2-3 years. Josh and his team are still taking on new investors for their projects.

“The fact that we are not perfect creatures is not the reason why we should quit trying to seek the good.”

31:25

Josh describes the Why behind his business. He wants to revive the souls of their properties, team, and guests.

The 3 virtues that Josh lives by and runs Renault.

Joy. Josh only employs people who are passionate about hospitality and find joy in giving back.
Humility. This means seeking humility in every work situation.
Ministry. Doing simple tasks for a spiritual reason and making people feel loved.

Mentioned in the show:

http://accountableequity.com/
https://www.renaultwinery.com/
Capital Hacking Podcast
https://www.vivamee.com/
His LinkedIn
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Josh McCallen for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Jason Mittman, a commercial real estate investor with over 30 years of experience. In this insightful episode, we learn about how Jason started investing, how to overcome risks, and how to rise by lifting others.

If you want to build a real estate portfolio that you can be proud of, not only from a financial perspective but also from a community perspective, then this episode is for you!

Learn more about Jason and his journey at reiclarity.com!

“I think one of the keys to commercial real estate investment success is what problems can you solve.”

02:32

Jason has always been adventurous. He was a semi-pro adventure racer, a mountain bike racer, and a mountain climber. When he decided 33 years ago to build a career in commercial real estate, he wanted a name that represented his values in both his business and personal life. That is why he named his company Only Epic Holdings.

According to Jason, he never gets bored with the industry because he loves the people he works with and loves solving problems.

“If the deal is good enough people will invest with you. If you don't have experience but the deal is strong, they're protected well enough. There's always a way.”

09:58

Jason has become an educator over the years. One of his principles is learning how to say no. Investors often feel that they have to do everything by themselves and say yes to every opportunity. However, our time is limited and we have to learn to say no to things that don’t serve us.

Jason’s company has a portfolio in 3 states with industrial, self-storage, retail, and medical offices. They’re currently selling all their multifamily properties, as they see better opportunities in CRE.

“Overcoming risk is overcoming your fear and going through tremendous hardships and scary times in order to get a tremendous reward.”

31:46

At the end of the episode, Jason picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Take the Risk”.

Jason gives a great example of taking the risk from mountain climbing. Everyone can make it if they choose to keep going during adversity. Learn from your adversity and you can manage the risk.

Mentioned in the show:

www.onlyepic.com
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Jason Mittman for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Clint Coons, attorney, real estate investor, speaker, and author. In this conversation, we talk about the 3 pillars of successful investing. We learn about how to protect your assets, how to minimize your taxes, and how to plan your business thoughtfully.

If you’re ready to take the leap and triumph in real estate investing, then this episode is for you!

Learn more about Clint and his journey at reiclarity.com!

“Real estate investors have to understand that there are more ways to make money than just that one little slice that they've convinced themselves.”

03:09

Clint’s father was a single-family real estate investor and he learned the basics of the industry from him. Clint wanted to do real estate investing to have passive income and eventually reach financial freedom.

According to Clint, one of the biggest mistakes that investors are making is overanalyzing deals. The best way to combat that is to make sure you have multiple exit strategies.

“You need to appreciate the risk, and then put together a structure or plan that is going to mitigate that.”

10:42

Clint shares his 3 principles about successful business planning.

Asset protection.
Appreciate the risk and prepare for it. Have the right insurance policy and know what’s covered in your policy and what’s excluded.
Tax planning.
Don’t focus only on reducing your tax burden. Not paying federal income tax limits the amount of money you can borrow and the loans you can get long-term. He explains the importance of forming the right entity and why having a C Corp is better than an S Corp.
Long-term business planning.
Educate yourself and find a mentor who understands your goals. When an opportunity presents itself, don’t just think about what it’s going to cost you but what it’s going to do for you.

Clint explains that a common mistake that investors make is that they only focus on one or two of these principles.

“Find those people that are doing what you're doing, but they're doing it better.”

43:40

At the end of the episode, Clint picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Build a Team”.

Building his team was the most important aspect of Clint’s success in business. He explains that there is high-value and low-value work, and people are often trapped with low-value tasks. It’s important to be able to outsource these tasks and focus on high-value work.

Mentioned in the show:

https://andersonadvisors.com/
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Clint Coons for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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We have an exciting conversation for you today! Our guest is A. Donahue Baker, a real estate developer and investor. In this episode, we talk about the 6 steps to build generational wealth, how to make smart money decisions, and a new way to get funding for your real estate deals. Join us and start building generational wealth today!

Learn more about A. Donahue and his journey at reiclarity.com!

“I just wanted to do one deal a year. The idea was, I would always make more money this year than I did the previous year. And I've done that for about 20 years now.”

03:09

Donahue grew up in a middle-class family and he was always very entrepreneurial. He found multifamily real estate investing by accident and realized that it was his true passion.
Donahue’s advice when it comes to becoming successful in real estate investing is to always have a clear, specific goal. From that, you can work your way backward and break up the process into bite-sized pieces.

“In this country, in order to build wealth, you need to have access to capital. And that goes hand in hand with debt.”

14:33

Donahue shares his 6 steps to generational wealth creation.
“The basement”. Over 70% of Americans are living paycheck to paycheck. The focus on this level should be to get out of debt.
Level 1. Focus on earning at least $100k a year. In A. Donahue’s experience, that is the amount of money that provides financial security and a good foundation to create true wealth over time.
Level 2. The number 1 expense in most people’s life is their rent or mortgage payment. If you can create a “rent-free” lifestyle through house-hacking then you can save up a lot of money fast.
Level 3. Bring your personal credit score to 720 and lock it. Then separate your personal and business life by creating an LLC and start to live exclusively through your business.
Level 4. Acquire $1M in good debt. This means mortgages that pay for themselves by your tenants.
Level 5. Over time this $1M turns into equity. As the final step, you need to structure how you can pass this wealth on to your children or heirs. You can set up trusts and life insurance.
Donahue started a bank, Money Avenue, where he plans to reform the banking system. They help investors to fund their deals. As opposed to syndication, the debt comes from a banking structure and the down payment comes from the JV.

“Each deal has its significance. It's not all about the money, some deals are just going to be your resume builder.“

36:35

At the end of the episode, A. Donahue picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Forecast Your Future”.

Donahue’s advice when you're thinking about acquisitions, is to start working on your next deal while you’re closing the current one. It’s important to plan ahead and have a strategy for your upcoming deals.

Mentioned in the show:

https://adonahuebaker.com/
https://preview.moneyave.com/wp/
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to A. Donahue Baker for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Dan Handford, multifamily real estate investor and educator. Dan’s team is picking up multifamily properties at a pace that is almost unbelievable, buying multiple $80M-$90M properties in any given year. In this episode, we discuss how to structure your team and deals, how to raise money, and how to have great relationships with your investors, brokers, and developers.

Tune in and get inspired!

Learn more about Dan and his journey at reiclarity.com!

“Whenever you're trying to find someone to partner with, find somebody that complements your skill sets. You don't want to partner with someone that does the same thing that you do.”

03:02

Before investing in real estate, Dan had multiple non-surgical orthopedic medical clinics that he owned with his wife. They were very successful but Dan had to pay a lot of taxes on them. So he started researching how to reduce his taxes and stumbled upon real estate investing.

Dan started out as a passive investor. Soon he hired a mentor to shorten the learning curve and enaged in a few co-GP opportunities.

Around 4 years ago, Dan finally decided to get into real estate full-time. He started his company, PassiveInvesting.com, with 2 partners. The 3 main roles in the team are acquisition, underwriting, and investor relations. Dan is managing the investor relations piece.

“Your reputation is definitely the number one thing as to why people try not to retrade as much.”

17:07

Dan’s first deal was an $8.9M multifamily deal that he raised $2.5M for. He shares that his hardest deal was a $50M project at the beginning of the pandemic in March 2020. That was the only deal they had to retrade on, but in the end, they succeeded and raised $19M.

Dan doesn’t recommend retrading often because it can damage your reputation in the industry. Reputation and good relationships are the most important factors for success in syndications.

Dan shares his predictions for the 2022 market. According to him, a lot is going to depend on the debt market. There is a lot of capital in the market right now that needs to be placed. In some of the primary markets, the cap rates will start to compress even below what they are now. He sees great potential in the higher-end secondary markets.

“The biggest thing for us has been just providing as much value as possible and not holding back.”

41:13

At the end of the episode, Dan picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Grow Your Community”.

According to Dan, in order to attract an audience, you have to be able to provide value to them. His community, the Multifamily Investor Nation Group has 45k members and he tries to share as much information with their audience as possible. This creates trust and helps them to have more impact in the industry.

Mentioned in the show:

https://www.passiveinvesting.com/
https://www.multifamilyinvestornation.com/
His LinkedIn
Robert B. Cialdini - Influence: The Psychology of Persuasion
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Dan Handford for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guests are Nick Earls and Eric DiNicola, the founders of Winterspring Capital, a multifamily investment and development firm. In this episode, we dig into the ins and outs of condo development. We break down the development process into 5 simple steps, talk about how to invest in big cities, and how to sell condos successfully.

If you’re interested in condo development, then join us in this conversation!

Learn more about Nick and Eric and their journey at reiclarity.com!

“Condominium development has been a really good pathway for us, and has allowed us to branch into long-term multifamily ownership.”

03:23

Nick and Eric have pursued many different real estate strategies during their career. They’re involved in condo development, multifamily, buy and holds, and flips around the Boston, Massachusetts area.

They started their real estate journey with condo development. They initially wanted to buy rentals, but saw an opportunity in their local market for condos and have been using this strategy ever since.

“Marketing is key because the speed of sale is the biggest focus at the end to eliminate stress.”

11:05

Nick and Eric share the 5 main steps of condo development.

Tieing up the land.
You should only purchase the land if you’re confident that you can get it permitted.
Zoning and planning.
Work in tandem with the community and respect their insights. Your team is very important in the zoning process. Have a good zoning attorney and work with an architect who can make the property blend in with the environment.
The building process.
Currently, labor is very expensive and supply chain pressures have driven up the price of materials. That this into account when you analyze a deal.
Breaking the property out into condos.
In many cases, selling condos individually as rentals is more profitable than selling the whole property. However, it’s riskier as it’s harder to get lending.
Selling the property.Focus on marketing from the start of the construction. This way you can get the units under agreement ahead of time.

“Real estate is worth the risk. And it’s not as big of a risk as some people think.”

45:37

At the end of the episode, Nick and Eric pick action steps from the REI Clarity Framework that are the most valuable to them. These are “Take the Risk” and “Know Your Strategy”.

At the beginning of their real estate journey, Nick and Eric often got into analysis paralysis. However, as they progressed through their careers, they realized that real estate is one of the safest investment asset classes. If you’re confident in what you know, then take the risk. Worst case scenario is that you have to sell the property.

Mentioned in the show:

https://winterspringcapital.com/
https://winterspringcapital.com/development-book
Nick’s LinkedIn
Eric’s LinkedIn
Their Instagram
www.reiclarity.com
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Nick Earls and Eric DiNicola for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Melanie McDaniel, a real estate investor, capital raiser, and founder of Freestyle Capital Group. In this episode, we dive deep into gaining clarity on your investment journey. We talk about how to reach success fast, how to create a fund, and how to establish your mentors. Tune in and elevate your real estate journey to the next level.

Learn more about Melanie and her journey at reiclarity.com!

“The concept of trading your time for money versus owning a business and having your money making money was mind-blowing for me.”

05:54

Melanie was a park ranger for 9 years. In 2015, she read Rich Dad, Poor Dad and decided to move into real estate. She finished the Rich Dad, Poor Dad training program and became a real estate agent.

After 2 years, Melanie realized that her biggest passion was commercial real estate. She attended conferences, completed coaching programs, and focused on her education and eventually bought her first 24-unit.

Freedom of movement and freedom of time are very important for Melanie as she travels a lot. She can make these happen through commercial real estate.

“Clarity and staying in your lane are so important because if you try to do things that you don't love or you're not good at, you're going to be miserable.”

17:47

Melanie shares her investment strategy. She’s mostly in the value-add multifamily space, but invests in other secure asset classes like warehouses or industrial.

Melanie’s strength is in capital raising, so she only focuses on that area of real estate. However, finding a good sponsor for her deals is crucial. She looks for experience, morals and values, and reputation in a sponsor. She finds her sponsors through referrals.

Staying in her lane of expertise and finding partners who have the skills she doesn’t have has been the foundation of her success. However, she suggests still being open-minded if you need to pivot.

Melanie is in the process of starting a real estate fund and transitioning into a fund manager role. Her fund will be a hybrid model between a blind fund and a single syndication.

“If you want to make a huge difference or you hit a plateau in your progress, then that's the time to consider a mentor or a coach.”

45:32

At the end of the episode, Melanie picks action steps from the REI Clarity Framework that are the most valuable to her. These are “Establish Your Mentors” and “Grow Your Community”.

Melanie explains that even though real estate investors should educate themselves as much as possible, they should also look into working with a mentor or a coach. Mentors can help elevate your business to the next level. It’s also important to find a suitable mentor as you grow or change lanes in your career.

Mentioned in the show:

https://www.freestylecapitalgroup.com/
Her LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Melanie McDaniel for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Nicole Gauthier, a real estate investor who is passionate about community growth and social change. In this episode, we talk about social impact investing, the benefits of investing in opportunity zones, and how to rise by lifting others.

If social change and community growth are an important part of your investment strategy, then this episode is definitely for you!

Learn more about Nicole and her journey at reiclarity.com!

“Opportunity zones are neighborhoods where the city is targeting a lot of infrastructure and growth to try to empower those that are in that community.”

01:12

Nicole started real estate investing about 1.5 years ago, after doing market research in inner-city Houston. She saw that a specific neighborhood in an opportunity zone undergoing gentrification and she wanted to help prevent the residents from getting displaced. She purchased an empty lot near 2 universities in Houston and her plan is to eventually create an affordable student housing complex on it.

Nicole founded her company, Wicked Holdings, in January of this year. She’s already completed rehabs on a few rental projects and she’s currently working on a multifamily property in a nearby opportunity zone.

“If you stick to the numbers and you can show that, then investors are willing to work with you.”

10:01

Nicole believes that if you buy right and stick to your metrics, then you can reap the best returns and advantages for your investors. Her specific formula is to stick to 70% or less of the After Repair Value when purchasing.

Nicole’s way of fighting gentrification is by doing new construction. This way no one has to be displaced as she is adding more homes to the community.

When looking at a multifamily deal, Nicole is focusing on 3 key metrics within the area - increasing income, decreasing unemployment, and population growth.

“We have the choice to make changes in our tenants' lives. And you can still be profitable and reap some really great returns for your investors. “

31:58

At the end of the episode, Nicole picks an action step from the REI Clarity Framework that is the most valuable to her. This is “Rise by Lifting Others”.

According to Nicole, when you're investing in a growing community, especially if it's a gentrification type of situation where things are changing fast for that community, focus on the people. Engage with the community and ask the tenants what improvements they would like to see.

Mentioned in the show:

https://www.wicked-holdings.com/
Her LinkedIn
Her Instagram
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Nicole Gauthier for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guests are Suzy Sevier and Michael Barnhart, an investor couple who, against all odds, went from 0 to 400 doors in just 2 short years. In this episode, we talk about how they invest entirely long-distance, how to build the right systems and processes, and how to take intelligent risks. If you want to grow your multifamily investing business fast, then this conversation is for you!

Learn more about Suzy and Michael and their journey at reiclarity.com!

“Once we found out that the entire world of real estate had gone online because of the pandemic, we knew that that was our opportunity.”

02:40

Suzy and Michael were professional athletes until the pandemic hit. Due to the lockdown, they started reading real estate books and got interested in investing. Even though they lived in the UK, they decided to invest in multifamily in Tulsa and Oklahoma City, Oklahoma. In less than 2 years, they acquired 400 doors.

Suzy and Michael share the steps they took to become successful investors.

They started networking and became an active member in as many virtual real estate investor groups as possible.
They attended over 10 virtual conferences. Later, they reached out to every attendee on LinkedIn.
They established a strong social media presence and were actively creating content to get in front of people in the industry.
They found a mentor who understood the market they were trying to get in.
They got clear in their investment thesis and the markets they wanted to invest in and shared it with everyone.

“This whole business is about relationships. People want to be seen, heard, and understood. So if you want to create relationships with the brokers, you have to treat them like people.”

18:13

Suzy and Michael talk about how they invested in their first 88-unit multifamily in Tulsa, Oklahoma.

They reached out to every broker on Loopnet and Crexi who had more than one listings in their preferred market.
They put together a cover letter with all their information, including their mentor and their team.
Lastly, they called all the brokers and started building relationships.

Suzy and Michael focus on, what they call the greatest ROI. It means return on impact rather than return on investment. They try to have an impact on their tenants’ lives but also help their investors.

As a result of their successful investing strategy, Suzy was able to leave her W2 job this year as she fully replaced her job income.

“We like to be the strategic visionaries of our company.”

41:24

At the end of the episode, Suzy and Michael pick action steps from the REI Clarity Framework that are the most valuable to them. These are “Build Your Team” and “Take the Risk”.

For Suzy and Michael, taking the risk means resisting the norms and pushing the boundaries. Even though they always heard to “invest in their backyard”, they resisted and invested outside the UK. This eventually gave them more time freedom as they didn’t have to be on the property physically. This also prompted out-of-the-box thinking and pushing their boundaries.

Mentioned in the show:

https://adventurousrei.com/info
The Adventures of a Real Estate Investor Podcast
Suzy’s LinkedIn
Michael’s LinkedIn
Robert Allen - Multiple Streams of Income
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Suzy Sevier and Michael Barnhart for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Seth Bradley, a commercial real estate investor and legal advisor. Buckle up because today we dig deep into the legalities of real estate investing. We first discuss the things you should do as an investor to make sure you're covered from a legal standpoint. Then we talk from the perspective of a limited partner and a syndicator in a CRE syndication deal. Tune in to understand the legal side of real estate investing a bit more.

Learn more about Seth and his journey at reiclarity.com!

“I house hacked into a duplex within the first couple of months of getting my first paycheck at a big law firm.“

03:31

Seth went to law school and started his career in a law firm. However, he always knew he wanted to invest in real estate and live a more balanced life.

He did a house hack first and soon started buying single-family houses, duplexes, quads, and even flipped and wholesaled a few properties. After 6 years, Seth was finally able to leave his W2 job and get into real estate investing full-time.

“If you can't talk to your partner about the partnership agreement right at the beginning, then you probably shouldn't be going into business with them.”

13:41

Seth explains the first few legal steps that new real estate investors should be thinking about as they move into the investing world.

Asset protection. Have a basic asset protection structure set up from the very beginning and grow from there.
Partnership agreement. At the beginning of their investing journeys, many people partner up with friends. To avoid future conflicts, you have to have a partnership agreement or LLC agreement in place from the very beginning.

According to Seth, the best way to find a lawyer for these agreements is to get a referral.

In the second half of the episode, Seth talks about the role of a limited partner investor in a commercial deal. He explains how to structure the operating agreement or limited partnership agreement correctly and what to look out for in a syndication from a legal standpoint.

“Set up your strategy with the end goal in mind.”

42:31

At the end of the episode, Seth picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Know Your Strategy”.

Seth’s recommendation for a well-thought-out strategy is to have the exit in mind from the beginning. If you work backwards from your end goal, then you can create a better strategy for your business.

Mentioned in the show:

www.attorneybydesign.com
Passive Income Attorney Podcast
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Seth Bradley for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Cody Bjugan, a real estate investor, land acquisition, and front-end development expert. In this episode, we dig deep into land acquisition and development.

We guarantee that after listening to our conversation, you’ll have a much better understanding of the 4 phases of development deals, land acquisition, and how zoning and approving works.

Learn more about Cody and his journey at reiclarity.com!

“Off-market to me is where the magic sauce begins.“

04:37

Over the last 20 years, Cody has been involved in 30 different development projects. Over 2000 units and around $920M worth of real estate have moved through his system.

His best piece of advice for success is to always look for off-market deals. His company has a criteria for off-market deals and creates a database of all the vacant parcels and raw land based on it. They send out mail, do cold calls, and work with a title company to help them find more off-market deals.

Cody never competes with “highest and best” offers, he educates the brokers instead and builds trust with them.

“Whoever controls the dirt, controls the deal, period. So if you go find the dirt, you call the shots.”

23:30

Cody is an expert in land acquisition. According to him, it is one of the easiest ways to get into the development world because the barrier to entry is lower than in other areas.

Cody talks about the 4 crucial steps in any kind of development.

Land acquisition. Picking up the land itself.
Development. The process of making sure the zoning is correct and getting all the approvals.
Construction.
Management.

Cody explains that you shouldn’t close on the land prior to approvals. The only exception is if you’re buying it at its as-is value. You should control the land and not own it because you have more opportunities that way.

“You want to become the best you can be at one strategy.”

44:51

At the end of the episode, Cody picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Know Your Strategy”.

There are many strategies. According to Cody, at some point, you have to pick one and commit to it. Don’t compare yourself to anyone, just try to be the best in your own strategy.

Mentioned in the show:

vestright.com
vestright.com/rei
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Cody Bjugan for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Ben Kogut, a real estate broker and capital raising specialist with a focus on commercial real estate. In this conversation, we talk about what it means to be a passive investor in commercial real estate and how to find CRE deals, make offers, and succeed as an active investor. If you’re interested in investing in office, triple net, or strip malls in particular, then this episode is for you!

Learn more about Ben and his journey at reiclarity.com!

“Our mission is first and foremost to protect and then grow our investor capital.”

04:20

Ben is a commercial real estate broker in Austin, Texas. He focuses on office, retail spaces and triple net properties.

For a new investor, Ben recommends investing in triple net properties. Triple net is the acronym for “net, net, net”, the net of the taxes, the insurance, and the maintenance of the property. The tenants are responsible for these expenses.

Ben compares multifamily and commercial real estate in the current market.

With apartment complexes, tenants usually sign 12-18 month leases. Retail and industrial leases are more complicated, however, they are more stable.
Currently, the profitability of multifamily deals is fairly low. The cap rates are better on office and retail properties.

“Timing is everything.”

21:19

Ben’s company has a large funnel and is looking at 800-1500 deals every week. They’re looking for high credit tenants, long-term leases, and deals that come on the market with around a 7.5 or 8 cap rate. They do around 16 offers a week and on average put 1 under contract.

Ben shares his best practices on how to win a deal.

Send the offer within 24 hours after the property comes on the market.
Send a long list of references along with the offer.
Promise the seller that within 2 weeks of being under contract, you will physically be on site.
Always do what you say you’re going to do.

Ben wrote a book recently called The Five Things to Consider when Investing in a Commercial Real Estate Syndication. In the book, he describes the 4 rules of cash.

More cash is better than less cash.
Cash sooner is better than cash later. In multifamily syndications, investors get their money at the final sale. CRE syndications pay a monthly dividend.
Less risky cash is better than risky cash.
Never run out of cash. Make sure that you have reserves when you are involved in a commercial real estate project.

“ I knew that my one thing was commercial real estate.”

37:48

At the end of the episode, Ben picks action steps from the REI Clarity Framework that are the most valuable to him. These are “Know Your Strategy” and “Find the Money”.

Ben was really inspired by Gary W. Keller and Jay Papasan’s book The ONE Thing. He learned how to simplify his life and find his true passion and mission that he can focus on. This reflects in his strategy as well.

Mentioned in the show:

hjhinvestments.com/book
His LinkedIn
Gary W. Keller and Jay Papasan - The ONE Thing
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Ben Kogut for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest is Jasmine Ortiz, a commercial broker who focuses on multifamily and mixed-use commercial real estate. In this episode, we talk about the 4 types of real estate buyers, how to become an impact investor, and how to be a leader in your community. If you’re wondering how to enjoy tax benefits while also giving back to the community through investing, then this conversation will be very valuable for you!

Learn more about Jasmine and her journey at reiclarity.com!

“We're seeing many more buyers per seller right now in the current market even in commercial and residential.”

01:04

Jasmine is a commercial broker. She explains how the current seller’s market has way more buyers than sellers. However, she encourages everyone to be persistent and keep looking for properties.

Jasmine’s advice for the buyers is to look at contingencies carefully, be mindful of the price, and look at the timeline of the project. Research the city or town where the property is located and be flexible.

“The secondary mid-sized cities are really key right now. A lot of people invest in them because they can really see appreciation in the next few years.”

11:43

Jasmine talks about the different types of buyers and the size of properties they’re going for.

Individuals who are early in their investing journey. They typically invest in 1-4 properties or small multifamilies. They’re usually eligible for first-time loan mortgages and they don’t have a long history of credit or loans.
1031 exchange investors. They have more investing experience and have 10-20 units. They’re not ready to retire yet but building their portfolio towards it. These investors are more likely to invest in multiple asset classes.
Developers and syndicators with 100-500 units. There’s a lot of competition in this space right now.
Corporate and institutional investors. They have 500+ units or even in 1000+ across the nation.

Jasmine’s favorite investor group to work with are the impact investors and developers. These are the investors who want to be socially impactful and are looking for a deal that has diversity and inclusion. This can mean investing in retail and commercial spaces in communities that are disadvantaged or partnering with a non-profit in your development deal.

Recently, the federal government is encouraging impact investing. There are various opportunity zones where people can invest in these communities and also get tax benefits.

“If you're an investor, you are automatically a leader in your community.”

37:34

At the end of the episode, Jasmine picks action steps from the REI Clarity Framework that are the most valuable to her. These are “Grow Your Community” and “Rise by Lifting Others”.

Jasmine’s advice is to become an active member in the community where you’re investing and become a leader. By investing in properties, you automatically influence the area and the landscape. As a taxpayer, you should be involved in your area.

If you can, be a member of your local economic development organization or mentor a newbie investor.

Mentioned in the show:

jinaortiz@gmail.com
7744372503
Her LinkedIn
Richard Rothstein - The Color of Law
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Jasmine Ortiz for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Today, we have a powerhouse episode for you! Our guest is Logan Freeman, a real estate investor and podcaster, who shows how to compress 3 years of business growth into just 1 year. In our conversation, we talk about creating systems and strategies to reach success faster, having personal accountability, and how to be more productive by working less.

If you want to grow your business and grow as an entrepreneur, then this episode is for you!

Learn more about Logan and his journey at reiclarity.com!

“Saying no to so much other stuff has given me the permission to say yes to what actually matters.”

03:37

Logan is a real estate investor and entrepreneur. He started a podcast this year, called the Compression podcast, where you can follow him as he compresses 3 years of business growth into just 1 year. He wants to scale fast by implementing systems and strategies and avoiding 80-hour work weeks.

Logan’s company already acquired $62M of real estate in just 7 months. He shares what he learned about scaling fast and what you can do to achieve similar results.

Be accountable. Talk about your goals publically, tell it to your community, or start a podcast.
Focus. Where focus goes, the energy goes, so choose wisely what you focus on.
Manage your time. The amount of time you allot to a task is the amount of time it’s going to take, so plan out your days
Focus on the “vital few”. Roughly 80% of consequences come from 20% of causes, so focus on this 20%.
Get in the flow. Find activities that put you in a flow state and organize your day around them.

“Being busy is not being productive. Being efficient is not being effective.”

17:08

Logan talks about the best profit-producing actions you can implement in your strategies.

Set boundaries. Take time out for yourself and make sure that you don’t try to do everything by yourself in your business.
Attach $1 amount to your time and focus on the most valuable tasks.
Determine what you can delegate, automate, or eliminate from your schedule.

Logan puts different systems in place. He uses physical journals to write down his ideas and he implements a project management software, Monday, to help his team stay on track.

“If you want to achieve a big goal, you have to get your mind right first, because you cannot give what you do not have.”

32:29

Personal accountability is very important for Logan. According to him, we’re faced with choices all the time and we have to make the right decisions. This means choosing reading over watching a movie or exercising over laying on the couch. These decisions compound over time.

Creating new habits takes time. To help your journey, surround yourself with like-minded people and find good coaches. Personal accountability, forming strong habits, and keeping good company are foundational to success.

Mentioned in the show:

https://ftwinvestmentsllc.com/
Tim Ferriss - The 4-Hour Workweek
Mihály Csíkszentmihályi - Flow
Gino Wickman - Traction
Dr. Henry Cloud - Boundaries
Perry Marshall - Detox, Declutter, Dominate
Tony Robbins - Awaken the Giant Within
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Logan Freeman for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Larry Hagner, host of the popular Dad Edge Podcast. Today we dig into what it takes to be a good father, husband, and business owner. We learn how to communicate better, connect with our spouses and children on a deep level, and build healthier relationships. If you want to be a better person in your personal and business life, then tune in to our conversation!

Learn more about Larry and his journey at reiclarity.com!

“A lot of people think that creating a healthy, elevated, extraordinary marriage is a feeling. No. It's a skill.”

03:59

Larry is the creator of the Dad Edge Podcast and community, which helps men to become healthier in their personal and professional lives.

He talks about the 5 main reasons why men join his mastermind. They want to manage and master their family finances, optimize their physical, mental, and emotional health, create an extraordinary marriage, connect and be patient with their kids, or become better leaders. In Larry’s experience, 8 out of 10 men join his mastermind because they want to elevate their marriage.

“Nothing is more detrimental to the relationship than you not validating your wife's feelings.”

07:48

When it comes to creating an extraordinary marriage, there are 4 elements to consider.

Your self-care. Are you taking care of yourself physically, mentally, and emotionally, so you can show up in the best possible way for your wife and your family? You have to take care of yourself first to be able to take care of your loved ones.
Partnership. This is the “business side” of marriage, like paying bills and doing chores. Identify the different roles and expectations in your marriage.
Friendship. Do you like hanging out with your wife? Do you support each other? You should be good friends after all.
Intimacy. These are the physical and emotional aspects of the relationship.

All these 4 pillars sit on the foundation of communication. To have better communication with your spouse, you need to have tactical empathy, be able to emotionally validate your partner, and practice active listening.

Larry explains the 3 basic needs of a man and a woman in a relationship. Women want to feel seen, heard, and connected to their partners. For men, the 3 basic needs are to feel respected, appreciated, and validated.

“When your kids feel heard, and seen, and connected, that's when that environment of psychological safety really comes to life.”

38:48

Larry talks about how to build better relationships with your kids.

Make sure to ask them if they need advice or just someone to listen to them. Let them talk and listen carefully.
Use a calm tone of voice and speak to them at a slower pace. Don’t be demeaning or condescending.
Let them express their needs and validate their feelings.

“Most men will live a quiet life of desperation.”

56:03

At the end of the episode, Larry picks action steps from the REI Clarity Framework that are the most valuable to him. These are “Forecast Your Future” and “Take the Risk”.

According to Larry, there are many men who are risk-averse. He would much rather take risks even if they don’t always turn out successfully than die without trying. There’s a bigger risk in doing nothing and not going anywhere in life than failing sometimes.

Mentioned in the show:

www.thedadedge.com
Larry Hagner - The Dad’s Edge
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Larry Hagner for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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The Dad's Edge: 9 Simple Ways to Have: Unlimited Patience, Improved Relationships, and Positive Lasting Memories

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Our guest today is John Okocha, a multifamily investor and private equity expert. In this conversation, we dig deep into how to network and build connections thoughtfully, the best ways to raise capital, and how to build trust with your investors. Join us and level up your networking game!

Learn more about John and his journey at reiclarity.com!

“Hang around people that are smarter than you.”

04:32

John’s parents immigrated from Nigeria in the ‘80s to make their dreams come true. John inherited this mindset and he’s always wanted to create something meaningful.

From an early age, John always put himself in situations when he could be around people who are further along in their journeys than him. His advice is to always seek out opportunities when you’re out of your comfort zone because that’s the only way to grow.

“In the long run, the people who are going to be the titans of the industry are the people who have an extremely high EQ.”

17:49

John is an expert in making connections in the real estate space. He shares his best pieces of networking advice with us.

Attend your local real estate meetup consistently so people get to know you.
Be honest about your goals and where you’re at in your journey.
Ask thoughtful and insightful questions and also try to connect on a personal level with investors.
Practice talking to as many people as possible.
Read books on networking.

“The highest form of money is trust.”

33:26

John is an expert in raising capital. According to him, the most important part of raising money is trust. Investors have to trust you or your brand in order to invest with you, so focus on building trust.

Ways to build trust and succeed in raising capital:

Educate yourself and be an expert in your field.
Be active on social media and talk to your followers regularly.
Go to as many meetups as you can.
Make sure to follow up with people in your network.

Mentioned in the show:

His Instagram
Okocha Equity Partners
His LinkedIn
Keith Ferrazzi - Never Eat Alone
Dale Carnegie - How to Win Friends and Influence People
Richard La Ruina - The Soulmate Sequence
Chris Voss - Never Split the Difference
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to John Okocha for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Jonathan Twombly, multifamily investor and founder of Two Bridges Asset Management LLC. In this episode, we talk about the current market, how to put together a successful deal, and how to elevate your investing game. Tune in and you’ll walk away with deeper insights into today’s market and the best ways to grow your investment portfolio.

Learn more about Jonathan and his journey at reiclarity.com!

“You’re either dealing with a market where everybody is crazy for real estate and it's easy to raise money but hard to find deals, or the other way around, where it's easy to find deals, but very hard to find the money.”

03:11

Jonathan had a successful career as a lawyer in New York. He was always interested in real estate investing so when he lost his job after the financial crisis in 2011, he decided to jump into it full time. He started a syndication business with a partner who had more experience and his first deal was a 104-unit apartment building.

Jonathan’s advice on how to create more stability regardless of the current market:

Always plan for the downside. Don’t just think about how much money you can make, but also how you could survive if the market takes a turn for the worst.
Have a strategy for vacancies. See how far down you could go before you're at breakeven with your debt and evaluate the risk.
Build a good team around you.

“There are no more emerging markets, everything is overvalued. What you should be looking for is markets with hidden value.”

16:06

Jonathan talks about the current real estate market. It’s difficult to find good deals, however, people are willing to overpay for properties.

Even though we have a tough market right now, Jonathan still believes in multifamily investing. He shares his best pieces of advice on how to get in the game and find good deals.

Adjust your expectations. Have a long-term strategy, rather than just thinking about making money fast.
Be very strategic. Think about what markets are out of favor right now.
Instead of emerging markets look for overlooked markets with hidden value.

Jonathan raises a lot of capital. He shares his method of attracting an audience.

Create a platform that allows you to speak to a lot of people at the same time. This could be a podcast, Youtube channel, or Facebook Group.
Invite people to your email list.
Provide additional content and education to these people to build a relationship with them.
When you have a deal, offer it to your engaged mailing list.

“You don't have to have a billion dollars under management. You can do it at a much, much lower level and still have a different life and not have to work all the time.”

41:00

At the end of the episode, Jonathan picks action steps from the REI Clarity Framework that is the most valuable to him. These are “Find the Money” and “Build Your Team”.

According to Jonathan, raising money is a big stumbling block for many new investors. He suggests educating yourself on how to correctly raise money and building a good network and team.

Mentioned in the show:

Multifamily Investment Community Facebook Group
His LinkedIn
https://twobridgesmgmt.com/
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Jonathan Twombly for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Nicole Pendergrass, multifamily investor, and founder of Noirvest Holdings LLC. In this episode, we talk about investing purposefully in underserved communities, and how to truly rise by lifting others. Nicole is at the beginning of her investor journey, but she already has a clear “Why” and vision for her future, and she shares her story with us with all its ups and downs.

Learn more about Nicole and her journey at reiclarity.com!

“I really believe in the reasoning behind multifamily as far as having more than one tenant and being able to affect more than one life.”

04:11

Nicole started her investor journey with 1 to 4 unit apartments. She is now transitioning to the multifamily residential and commercial space and expanding her portfolio to 30-60 unit properties.

When Nicole decided to take the leap into multifamily, she read a lot of books, went to seminars, and talked to experts to educate herself. She started multifamily investing by direct seller marketing, direct mail.

“You can deal with all the craziness of your day-to-day life and still have your money growing for you and affect the outlook of the future of your lineage.”

16:45

The first year was difficult for Nicole with her first multifamily deal. She was inexperienced and the seller was misleading and promised different things to the tenants. Eventually, she had to evict tenants which took around 6 months because New York is very tenant-friendly.

A few lessons that Nicole learned along the process:

Trust but verify.
Always get a property inspection.
Start building your team even if you don’t have any deals yet.

Nicole is very passionate about improving communities. She doesn’t want to just place new tenants to raise the rent.

She’s also trying to help investors who are underserved or overlooked. These are people who might not have a high net worth or are not accredited. She’s helping mainly people of color who didn’t have investing opportunities until now.

Nicole is a big advocate of mindset and taking calculated risks. It’s important to be educated, have a good operator, and deal, but you have to be willing to take risks.

“People like to think that for them to win, someone else has to lose. That's scarcity mindset. That's thinking that there's not enough abundance to go around. But there really is.”

51:05

At the end of the episode, Nicole picks action steps from the REI Clarity Framework that is the most valuable to her. These are “Grow Your Community” and “Rise by Lifting Others”.

Nicole shares an example about rising by lifting others. She started a book club to motivate herself and others to read helpful books. This shows how she can help herself while helping others as well.

Mentioned in the show:

https://noirvestholdings.com/
Her LinkedIn
Angela Duckworth - Grit
Brian P. Moran and Michael Lennington - The 12 Week Year
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Nicole Pendergrass for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Anthony Vicino, best-selling author, multifamily investor, and serial entrepreneur. In this episode, we dive deep into what it means to succeed as an entrepreneur. We talk about mindset, how to be creative, and how to reach the hyperfocused flow state. We also discuss marketing on social media and how to create content that truly connects with your audience and grows your business.

Learn more about Anthony and his journey at reiclarity.com!

“Find those opportunities for growth and for challenge because that’s when you’re the most engaged with life.”

03:15

Anthony was a rock climber for about a decade. Through that, he learned a lot about seeking out challenges and taking risks to get better. Rock climbing is all about problem-solving and constantly improving - skills he could use in his businesses.

Anthony talks about the right mindset for succeeding as an entrepreneur. He encourages us to focus on the road and not on the destination and celebrate small successes every day. Mindset is like a muscle that needs to be developed constantly.

Ways to strengthen our mindset:

Start meditating. Don’t force yourself at first, take 1 step at a time, and start with 1-5 minute meditations.
Change the way you talk to yourself and the way you react to things. Practice gratitude.
Start working on your mindset in the time when you’re calm and non-reactive.
Have a visual reminder.

“The studies bear this out again, and again, and again - there’s about a 500% increase in productivity when we're in the flow state.”

18:41

Anthony is very passionate about achieving a hyperfocused or flow state. He’s helping people figure out how to build systems around themselves so that they can focus with intentionality on the things that really move the lever.

According to Anthony, we need curiosity, passion, and motivation to reach this hyperfocused state.

How to get into the flow state?

Do environment design. Find a calm, quiet place, where you won’t be interrupted.
You have to be in a good mood for the flow state to happen.
Get outside. Go into a novel environment that is information-rich.
Routine builds familiarity. Within that routine, you have the maximum potential to be creative and focused.

It takes 20-30 minutes to get in the flow state, and you can stay in it for up to 60-90 minutes.

“For an author or anybody, the hardest thing to look at is the blank page. You gotta have something already there to get started.”

31:10

Anthony is very active on social media, specifically on LinkedIn. LinkedIn is a good place to build business connections because people are already in the right mindset. Youtube is also a good platform because people go there to search for information.

Anthony’s advice when creating content is to think about what’s in it for the people. Don’t just talk about yourself, focus on helping others.

Anthony’s advice is to have a few topics that you can always go back to and can craft your social media posts around.

“Tactics are knowing what to do when there is something to do. Strategy is knowing what to do when there is nothing to do.”

51:06

At the end of the episode, Anthony picks action steps from the REI Clarity Framework that is the most valuable to him. These are “Grow Your Community” and “Know Your Strategy”.

For Anthony, strategy is the big macro framework for everything that you’re doing in your business. And all the opportunities and tactics are the direct result of all the strategies that you enact. The strategy creates the framework for all the opportunities.

Mentioned in the show:

https://invictusmultifamily.com/
Multifamily Investing Made Simple Podcast
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Anthony Vicino for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Bryan Ellis, the CEO of SelfDirected.org, writer, and capital raising expert. In this episode, we focus on the process of explaining a deal or opportunity to someone else. We talk about marketing, how to communicate the quality of your business better, and how to motivate people with your presentations. If you ever needed to raise funds from other people or hosted a webinar about your investment deal, then this episode is going to level you up.

Learn more about Bryan and his journey at reiclarity.com!

“If I wanted the conversation to end there, I'd say I'm a writer. But if I did want to talk to you, I'd say I'm the Great and Powerful Oz.”

04:33

Bryan is a real estate investor and coach. He helps people who are raising capital to do it much better by using psychology and well-established principles of persuasion.

Bryan is an expert in self-directed IRAs. His advice, when considering using this particular vehicle, is to always go to a CPA or an attorney who knows about self-directed IRAs. There are many challenges in terms of tax advantages and legal compliance.

Bryan shares his best pieces of advice on how to attract investors when raising money for a deal.

Start a podcast or a Youtube channel with a clear CTA in every episode and publish content consistently. This is the top of the funnel.
Build a following of people who know you, like you, and trust you.
Capital raising webinars are only the last step in your funnel.

“You've always got to ask yourself - the person listening to me, what do they care about? “

17:55

Most capital raising events have been done by webinar since the start of the COVID era. Bryan explains that many of these webinars are done incorrectly. People share inconsistent or irrelevant information.

The role of the webinar is to make sure that people who are not qualified won't waste your time. And also that the people who are qualified are interested based on real information.

Bryan shares how to raise capital correctly as a new capital raiser.

Share less data on the webinar. All the spreadsheets should only be in the PPM.
Write out every single word that you want to say in the presentation. Be prepared.
Make sure you have a good deal. It’s even more important now than 1-2 years ago.

“If you do your first 2 well, raising money is never a problem ever again.”

33:22

The correct order of a successful capital raising presentation is:

Start with a hook. This could be 3 quick facts about the deal that you share without giving too much detail to get the listeners interested.
Do a legal disclaimer at the front.
Our minds are wired to understand stories. Start with the story about how the deal came together and why you chose this one over all the others that you underwrote.
Bring the people into the story and talk about investor relations.
Talk about the structure of the deal.
Close the presentation with a controlled Q&A that is not live.
Share the CTA once again.

Mentioned in the show:

www.selfdirected.org
Self Directed Investor Talk Podcast
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Bryan Ellis for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Lisa Hylton a syndicator, real estate investor, and podcaster. In this episode, we dig deep into real estate funds. We discuss how these funds work, what are the pros and cons of investing in them, and when you should start a fund yourself.

Learn everything about real estate funds and tune into this episode!

Learn more about Lisa and her journey at reiclarity.com!

“What's key with the blind fund is that you need to be comfortable with the investment strategy and trust in the operator.”

03:51

Lisa started her career as a controller for private equity real estate funds. Recently, she started her own company as a real estate funds syndicator.

A fund is an entity, typically an LLC that has been created to invest in one or more real estate assets. The GP team manages the money.

Lisa explains that there are 2 types of real estate funds:

Real estate syndication. Here, the investors invest in 1 or sometimes multiple assets that are known.
Blind fund. This type of fund enables investors to invest, but none of the investments are known. Investors are investing in the investment strategy and plan, and it usually covers multiple asset classes that are typically value add or opportunistic investments.

“Investing in funds really works well for people who don't have a lot of time but have money and want to invest in real estate in a very diverse way.”

11:48

Lisa shares the multiple benefits of real estate funds for passive investors:

If the investors really like and trust the sponsor then they can get exposure to a variety of deals constantly.
The investors don’t have to review new deals every time. The sponsors are acquiring deals and sending them a report every quarter.
Funds work well for people who have money and want to diversify but don’t have much time.

According to Lisa, the only downside of investing in funds is the lack of control.

There are 2 different ways of paying out:

Evergreen funds. These funds have no end. Every time the operators sell an asset they give the investors the option to reinvest.
Funds with a set life. These funds end in 5-7-10 years. The operators have 1-2 years to raise and 3-4 years to deploy the money. However, even though there is a set sell date, this can change based on the market.

If you’re an operator who’s thinking about starting a fund, Lisa recommends making sure that you have a substantial deal flow. Also, if you’re focused on raising capital as part of a GP team, starting a fund can be beneficial because you can have your own entity.

“Being in the right place starts with you getting to know who you are.”

34:32

At the end of the episode, Lisa gives advice for people who want to take the leap from their W2 job into entrepreneurship.

Be clear on the bigger vision and be flexible on how you get there.
Work on your mindset.
Structure your days, weeks, and quarters, and focus on your goals.
Be around the right people. Hire coaches and be in the right masterminds.

Mentioned in the show:

https://lisahylton.com/
https://lisahylton.com/funds
Her LinkedIn
The Level Up REI Podcast
Gay Hendricks - The Big Leap
Brian P. Moran and Michael Lennington - The 12 Week Year
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Lisa Hylton for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While you there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Dan Lewkowicz, a commercial real estate broker, educator, and podcaster. In this episode, we talk about the pros and cons of net lease commercial real estate investing, how to build great relationships with brokers, and how to become a CRE broker yourself. If you’re ready to invest in commercial real estate but are looking for something else other than multifamily, then this episode is for you!

Learn more about Dan and his journey at reiclarity.com!

“It's great to analyze deals and great to try to figure things out. But it's also great to not miss opportunities.”

03:59

Dan started his career as a CRE investor and broker 15 years ago in Detroit. His investing strategy is to follow the money and the resources. He sees a lot of opportunity in Detroit now.

Dan’s specialty as a broker is net lease investment sales. He sells buildings that are rented or leased out to major national chains like Walgreens, Taco Bell, or Burger King. The reason it’s called net leased assets is because the rental rate that is on the lease is net to the investor.

The pros of net lease investment compared to multifamily is that it’s more reliable because the lease is set for 15-20 years and more passive. The downside is that there are not many properties available under $1M, however it can be done in syndications.

“If you're looking to become an independent, successful real estate professional, it's great to be an investor. But the opportunity as a commercial real estate broker, especially today is absolutely incredible.”

21:06

Dan is one of the top CRE brokers in the country. He shares his insights on how to be on top of a broker’s list.

Be transparent, honest, and straightforward with what you’re looking for.
Treat the broker how you want to be treated.
Trust your broker and be open to their advice.
Give your broker feedback about the deals they bring to you.

According to Dan, finding net lease investment deals can be difficult as it is not as common as multifamily investing. He recommends interviewing brokers and looking for referrals.

Dan created a course called “CRE Pro” where he helps people who want to become CRE brokers and gives advice to CRE investors.

“You need to put time and energy into the inputs and the outputs will come.”

38:55

At the end of the episode, Dan picks an action step from the REI Clarity Framework that is the most valuable to him. This is the “Know Your Strategy.”

For Dan, strategy means having very clear and replicable procedures. Create processes with the knowledge that you have and keep improving them. It’s a process of refinement, so it doesn’t have to be perfect today.

Mentioned in the show:

www.crwprocourse.com
Dan On Top Podcast
Phone Number: (248) 943 2838
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Dan Lewkowicz for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Chad Keller, a digital marketer who has grown and sold many tech businesses over his young career. In this episode, we dive deep into the 6 key steps to succeed in digital marketing and how to use ads effectively to find more leads. If you’re growing your business and want to learn the best insider tips about digital marketing, this episode is for you!

Learn more about Chad and his journey at reiclarity.com!

“With digital marketing we had more leads coming in then we could deal with.”

05:07

Chad has always been very entrepreneurial, so after finishing college, he knew that he didn’t want to get a corporate job. He started an ecommerce company and got interested in digital marketing and it’s opportunities.

Chad found real estate as a great way to invest his money and uses his tech skills to help other people succeed in real estate too. Now his company has 150 investors nationwide.

“I personally don't feel there is a time when you should stop ads unless you don't want to grow your business anymore.”

07:35

Chad shares his 6 key steps to succeed in digital marketing and drive more leads to your real estate business.

Create a website.
Don’t spend a lot of money on the design, there are simple and cheap options for you.
Don’t talk about your brand too much on the website, focus on your ideal clients’ desires and needs.
Put the most important information on the first page of your website. Your visitors shouldn't have to scroll down on your website.
Come up with the creatives.
Take professional headshots.
Get someone to design your ads instead of doing it by yourself.
Make sure that you keep your Facebook videos between 8 to 14 seconds and put all the key information in them.
Build out conversion campaigns.
Learn Facebook Ads Manager or hire someone who manage your ads for you.
Create new ads regularly.
Every 3-4 weeks go back and make sure you have fresh creatives going out. Ads fatigue is when the same ad is being shown to the same person multiple times. You want to avoid that by creating new ads from time to time.
Build a connection with your subscribers.
Create a drip campaign for the people who signed up for your email list. This automation sends them emails to grab their attention for 90 days.
Get testimonials from existing clients.
Share these testimonials on your website and social media to establish more credibility.

“Take the risk and put yourself out there.”

38:02

At the end of the episode, Chad picks action steps from the REI Clarity Framework that are the most valuable to him. These are “Know Your Strategy” and “Take the Risk”.

According to Chad, taking risks is crucial for growth. Keep pushing, keep learning, and keep taking risks, so you can eventually reach your goals. And even if you fail, don’t give up, just push forward.

Mentioned in the show:

https://motivated-leads.com/
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Chad Keller for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Stephanie Walter, a multifamily passive investor, and insurance agent. In this episode, we talk about succeeding as a capital raiser, building true wealth, and taking the leap from single-family to multifamily investing.

If you’re looking to jump into multifamily real estate and grow your business, this conversation is for you!

Learn more about Stephanie and her journey at reiclarity.com!

“That really was the magic of how I retired. I just repositioned money that wasn't performing for me.”

04:00

Stephanie became an insurance agent in 2005. She started investing in single-family properties. In 2016, she became interested in syndications and realized how much she loved the capital raising part of it.

Stephanie completed her first syndication in 2018 which was a fraternity house. She’s done 6 until now and was able to replace her income with passive income.

“Many people haven't heard of making money while they're sleeping. Not “landlord sleeping”, but real, true, deep sleeping.“

20:32

Stephanie’s expertise in the deal is to bring the money. She shares her advice for capital raisers:

Find a good mentor.
Be a part of a little group of people with who you communicate regularly. This could be through a podcast, newsletter, or social media.
Networking is crucial for raising capital.

Stephanie talks about why syndication and multifamily investing are better than single-family investing. The vacancy is not that big of an issue in multifamily properties, and your money is working for you more efficiently.

Stephanie explains how wealthy people like to invest in businesses and people and not in their 401(k) and the stock market. They also know all the fees that they are paying for every transaction.

“Build a group of people that listen to you and follow you.”

41:10

At the end of the episode, Stephanie picks action steps from the REI Clarity Framework that are the most valuable for her. These are the “Know Your Strategy” and “Find the Money”.

According to Stephanie, if you can raise money constantly, you will always have a place in the multifamily space. So if you’re interested in capital raising, start reaching out to people and build a community of people who trust you.

Also, try to find a networking group where people are just a bit better than you are so you can learn from them.

Mentioned in the show:

https://erbewealth.com/
Her LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Stephanie Walter for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Brett Swarts, Capital Gains Tax Deferral Experts, and speaker. In this episode, we dive deep into ways to avoid or defer taxes to maximize the benefit of real estate investing. We talk about the top 5 tax deferral strategies, focusing on the Deferred Sales Trust, and Brett shares how to live a successful and fulfilled life.

If you're ready to leverage the tax benefits of real estate and defer your taxes, then this episode is for you!

Learn more about Brett and his journey at reiclarity.com!

“It's my passion to help people defer tax. I'd never want someone to feel trapped by capital gains tax jail.”

04:49

Brett started his investment real estate career in 2006 as a multifamily real estate broker. After the 2008 financial crisis, he needed a side hustle. That’s when he heard about Deferred Sales Trust, and he knew he had to dive deeper into it and help people. Now, 10 years later, Brett is coaching others about tax strategies.

Brett shares his success and fulfillment formula:

Find out what’s your gift, talent, or passion.
Maximize the potential of this gift.
Use your gift to serve others and impact other people’s lives.

“The Deferred Sales Trust is like Netflix. Why is it like Netflix? Well, first of all, it works for any kind of asset.“

18:07

Brett explains how the largest wealth transfer is happening now in history. It’s expected that $17-$20 trillion is going to pass from baby boomers to the next generation in the next 20 years. But they are burdened with a huge capital gains tax.

Brett’s top 5 tax deferral strategies for real estate investors:

1031 Exchange.
Unfortunately, it only works for investment properties and has many restrictions.
Delaware statutory trust.
Essentially, it's another form of 1031 Exchange, except you exchange your investment property into interest into a larger portfolio of a couple of properties. The challenge is you have to give up all control. It's typically 7-10 years and you have no liquidity and diversification.
Deferred Sales Trust.
This is Brett’s favorite because you can put your gains into a variety of types of assets. A Deferred Sales Trust is one you create while engaging a third-party company to act as trustee. You could sell your investment real estate to this trust in exchange for a deferred installment contract, or promissory note which you design and document in advance. You have to renew it every 10 years.
Cost segregation.
It’s accelerated depreciation for investment properties. You can reduce their taxable income by having a cost segregation study or segregation analysis completed on the property.
Seller carry-back.
Seller carry-back financing is when the seller of the property acts as a lender for a buyer on the seller’s property. The buyer typically pays you back in 3-5 years, but it’s not liquid or diversified.

Brett’s advice for ultra high net-worth individuals is to be aware of the state tax exemptions that are expiring in 2025. It’s 40% of the debt tax.

“The Deferred Sales Trust is a great way to raise capital.”

52:08

At the end of the episode, Brett picks an action step from the REI Clarity Framework that is the most valuable for him. This is the “Find the Money”.

According to Brett, the Deferred Sales Trust is a great way to unlock capital from sources that otherwise weren’t possible. There are other places that people have money, like cryptocurrency, primary homes, or businesses. If you can solve the problem of that illiquid asset to sell and defer the tax, it is the best way to raise large sums of money.

Mentioned in the show:

https://capitalgainstaxsolutions.com/
Capital Gains Tax Solutions Podcast
https://www.experttaxsecrets.com/main
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Brett Swarts for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Neal Bawa, a commercial real estate investor, data scientist, and educator. In this episode, we dive deep into how to analyze data. We talk about how to understand the markets and asset classes, the future of real estate investing, and how data drives our decision-making. If you want to understand the current real estate environment and learn about multifamily and its role in the industry, then this episode is for you!

Learn more about Neal and his journey at reiclarity.com!

“The amount of time that we'd spend looking at the data is clearly at least 10x of a typical company of our size.”

04:18

Neal is a large multifamily investor with thousands of units in 10 states. He considers his company one of the most diverse multifamily companies in the United States because they have multifamily, student housing, built-to-rent, townhouse, self-storage, industrial, new construction, B and C class assets in their portfolio.

Built-to-rent is a newer term in the industry but it’s already the fastest-growing asset class in all of real estate. These are townhomes or single-family units that are like apartments.

According to Neal, his company is more like a data company that works in real estate, that is why their portfolio is very diverse.

“This is the greatest time in history to sell.”

15:40

Neal is a data scientist. He talks about what data is impacting real estate investing the most currently.

One major factor to consider is that we recently injected 5 trillion dollars into a 2 trillion dollar economy. This affects the single-family market the most but also the multifamily market. It created low inventory, record amounts of liquidity in the system, and record-low interest rates.

According to Neal, this is the greatest time in history to sell in real estate. It can also be a good time to buy, but you might need to change your strategy or preferred markets.

“It's a classic and capital mistake to study cities. What you really should be doing is studying regions or corridors.”

25:02

Neal talks about his acquisition strategy. He recommends investing in tertiary markets and looking at corridors instead of cities.

He also recommends investing in fourplexes as they have the best tax benefits and to stay away from new construction.

At the end of the episode, Neal shares how climate change is affecting real estate and changing the market whether you believe in it or not. According to him, it’s not just the actual climate change that will affect real estate but the perception of it will have a strong impact as well.

Mentioned in the show:

http://www.neilbawa.com/
https://multifamilyu.com/
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Neal Bawa for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is David Hays, a well-known financial advisor and real estate investor in Bloomington, Indiana. In this episode, we talk about diversifying your local portfolio, finding and grabbing opportunities, and the different types of investments to get into real estate. Tune in if you’re an investor wanting to become successful as David shares all the ups and downs in his journey and how he reached success.

Learn more about David and his journey at reiclarity.com!

“There are only a few things you can do with money - you can spend it, you can save it, or you can share it.”

04:53

David grew up in Bloomington, Indiana and his family didn’t have much money. David started learning about money and his mindset changed towards it. He got into finance and became a financial advisor.

David was 24 years old when he started real estate investing. His first deal was a nine-acre farm which he refinanced and bought his first duplex.

In the beginning, David was looking for equity, but now he’s more focused on cash-flow generating properties. His portfolio is very diverse. He has student housing, self-storage, retail, and commercial investments.

“It's all about people, it's all about where the people are going.”

24:05

David talks about some ways to get into real estate investing. One of them is investing in a REIT (Real Estate Investment Trust). REITs are good because there is no income tax on them and you can have a more consistent and safe income stream. Syndication is also a good way to get into bigger deals.

David explains that there are a lot of different opportunities that fit different people. According to him, his success is due to seeing opportunities and not being afraid to take the leap. He focuses on the people and where they would like to live.

“Having clarity and focus is really important. It doesn't mean you can't venture off here and there, but really maintain a focus is important.”

42:53

At the end of the episode, David picks action steps from the REI Clarity Framework that are the most valuable for him. These are the “Know Your Strategy” and “Forecast Your Future” in the “Clarity” pillar.

Maintaining focus and getting clarity are very important for David. As entrepreneurs, we tend to lose focus, so it’s crucial to establish our strategy and stick to it. The most important is knowing what you want and knowing who you want to be involved with.

Lastly, David explains that finding the money is never a problem for him. Find the deal first, and if you’re dedicated, you will find the money.

Mentioned in the show:

https://www.cfci.us/
His LinkedIn
Your Money with David Hays
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to David Hays for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Andrew Cushman, a multifamily real estate investor expert, owner of Vantage Point Acquisitions, and facilitator of the Multifamily Accelerator Mastermind. In this episode, we talk about how to succeed in the current real estate market, how to find the best deals, and the 4 steps to find overlooked deal opportunities. If you want to learn how to find deals before other people, then this episode is for you!

Learn more about Andrew and his journey at reiclarity.com!

“I pursued my goal relentlessly. And after 4500 cold calls, we got our first deal.”

05:20

Andrew started his career as a chemical engineer and got into house-flipping on the side. He turned it into his full-time business, and eventually transitioned into multifamily investing. His first multifamily deal was a 92-unit apartment building. As of now, Andrew had his fingers on over 2000 units.

According to Andrew, the 2 key things that led to his success were collaborating with the right people and relentless persistence.

Andrew talks about the importance of bringing additional team members in from the start.

"Finding a deal is probably the easiest way to get yourself into the business"

22:01

Andrew explains that in the current market, finding a good deal is the hardest part. A few years ago, it was raising the money.

The 4 key steps to finding overlooked deal opportunities:

Know exactly what you're looking for. Be as specific as you can.
Know where you're looking for the deal. Rather than trying to cover a huge area, pick 1-3 markets that you can effectively handle and go deep.
Know what you're going to do with the deal once you found it. Are you looking to co-GP with someone? Are you looking to syndicate?
Start looking for deals just slightly out of your comfort zone

“I'm a big believer in third-party, especially if you're looking to scale your business and really grow in terms of acquiring a number of units.”

33:43

At the end of the episode, Andrew picks action steps from the REI Clarity Framework that are the most valuable for him. These are the “Build Your Team” and “Know Your Strategy”.

Andrew highlights a good strategy for scaling faster. The key is to hire a really good, competent third-party management company and manage them. This way you become an asset manager, not a day-to-day operator.

Mentioned in the show:

vpacq.com
https://www.vpacq.com/mastermind
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Andrew Cushman for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Adam Carswell, a real estate entrepreneur, and social media expert. In this episode, we dive deep into the second pillar of the REI Clarity Framework, making connections. We talk about the 5 most effective ways of networking in commercial real estate, the importance of a team, and how to be consistent in your work.

If you want to elevate your networking game, then don’t miss out on this episode!

Learn more about Adam and his journey at reiclarity.com!

“Find a place to get your education first. It is a skill within itself because there are so many people offering things”

Adam grew up in Ohio. After his master’s degree, he moved to Washington DC, where he fell in love with real estate investing. He started as a realtor but then moved to the commercial real estate space.

Adam’s advice is to always focus on your education.

“Your name is your most valuable asset, so you have to market yourself on a daily basis. You're definitely leaving a lot of opportunities on the table by not properly promoting yourself.”

07:32

Adam shares his 5 most effective ways to build commercial real estate connections.

Network face to face. Go to your local meetups and RIAs. If you can’t go in person, then conferences and online meetups are a good place to start. This is a great way to build connections, but also to educate yourself.
Get educated. You can start with books and podcasts. Many times the podcasters have a course or a coaching program too.
1. Make sure your profile pops. A good profile picture and header are crucial.
2. Be yourself
3. Connect to groups who have a similar story as you.
Be active on Linkedin.
Leverage your personal connections. Everyone has at least one real estate person they know. Try to make a connection with them first. If you don’t have one, then use paid mentors.
Publish content regularly. Blogging, Youtube, writing articles, or being active on social media are necessary for building connections. Always talk about something you’re passionate about or an expert in, and make sure to be consistent for years.

“When delegating your tasks you have to be willing to experiment until you find the right person for you.”

40:54

At the end of the episode, Adam picks action steps from the REI Clarity Framework that are the most valuable for him. These are the “Build Your Team” and “Establish Your Mentors”.

Building a team is crucial for the success of a company. According to Adam, building a team is a skill that every entrepreneur has to master. Delegating tasks can be difficult at the beginning of your journey but it saves a lot of time and money eventually.

Mentioned in the show:

carswell.io
His LinkedIn
Dream Chasers Podcast
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Adam Carswell for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Julie Anne Peterson, the Senior Director of Old Capital Lending, one of the biggest multifamily lenders in the country. In this episode, we discuss the 4 steps you need to do as an investor to get the best experience with your commercial lender. Julie walks us through the process of creating your business plan, knowing your market, building your team, and finding the deals. If you're trying to move into the commercial real estate space, or you’ve done a few deals but want to scale up, this episode is for you!

Learn more about Julie Anne and her journey at reiclarity.com!

“As a lender, we are your number one teammates, because we're bringing 75 to 80% of the money to get this transaction done.”

04:56

Julie is the Senior Director of Old Capital Lending and they do over a billion dollars in commercial real estate loans each year. As lenders, Julie’s team is bringing 75-80% of the money into the deal.

According to Julie, a common mistake that many new investors make is that they are not doing the front-end work, and only think about the deal from their own perspective.

“Net worth, liquidity, and experience are what you'd like to have in a sponsor.“

14:25

There are 4 key steps you should do to succeed in building a good relationship with a commercial lender. Julie explains them in detail.

Have a solid business plan.
Figure out what your investors would be interested in. The best way to truly understand what your business plan should be is to ask the market, which is your investors, banks, and people in your industry.
Know your market very well.
Instead of trying to be present in multiple markets, focus on a specific market, and become an expert in it. Always investigate what is the population growth, job growth, and crime statistics. According to Julie, there are 2 main things that will have the biggest impact on the underwriting - insurance, and taxes.
Build your team.
Focus on building a good connection with not only your lender, but your underwriter, capital raiser, property manager, and operator. When you vet your GP, look for net worth, liquidity, and experience. Keep your team small and tight.
Find the deal.
Figure out if the property fits in the business plan, the market, your investors’ expectations, and if you can execute the deal. Share your underwriting with your team, to see their perspective on it as well.

After you went through these 4 crucial steps you should be able to succeed with your commercial lender. Julie explains how to get the best lending possible. Find a stabilized deal, that is 90% occupied for 90 days. If you don’t have that occupancy, you can still get a bridge loan.

“It all really starts with education. Educate yourself, spend time doing the stuff upfront for the success on the back end.”

48:33

At the end of the episode, Julie picks an action step from the REI Clarity Framework that is the most valuable for her. This is the “Build Your Team”.

Building a great team is critical for every real estate investor’s success. Educating yourself is very important because the more you know about the industry, the better team you build.

Mentioned in the show:

ZOOM at 8
https://oldcapitallending.com/
Her LinkedIn
jpeterson@oldcapitallending.com
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Julie Anne Peterson for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Chris Larsen, a syndicator, author, and coach. In this episode, we talk about the 3 main things you can do with your money: make it, keep it, and grow it. We also dig into how to set your goals, choose the right vehicle for financial independence, and build your investing team. If you’re an active or passive multifamily investor who is ready to make the right investment choices, then this episode is for you!

Learn more about Chris Larsen and his journey at reiclarity.com!

“When it comes to high-income earners, those individuals typically find a skill that's very valuable and focus on it.”

03:37

Chris started his career as a trader in the stock market. He kept earning and losing a lot of money, so after a few years he decided to do something more reliable and less risky. That's when he turned to real estate investing. After a few years of single-family investing, he ended up in multifamily.

Chris is the founder of Next Level Income, a platform helping investors make, keep, and grow their money.

Make Money
1. Figure out the tasks that you do well and generate the most money.
2. Schedule these things first.
3. Outsource the tasks that you don’t want to do or find someone who can do it cheaper than you.
4. Have a tax strategist because your biggest expenses are probably your taxes.
5. Create a correct entity structure.
6. Structure your insurance properly.
Keep Money
1. Pick the right financial vehicle for your personality and experience.
2. Build your team.
Grow Money

“Make sure you're working with people that have that abundance mindset.”

27:38

Chris explains how to build the right team. If you're a passive investor, you need to have people on your team that can help you evaluate the deals. If you’re active, make sure that all of your team members stay in their lane of expertise.

It’s also very important to work with people with an abundance mindset and who want to grow the business with you. People who have a scarcity mindset operate from fear and will limit your company’s true potential.

“If you understand how to do it on the active side, then you're just going to be a better passive investor. ”

32:07

At the end of the episode, Chris talks about how to find the right deals as a passive investor. Always ask yourself the following questions when you’re evaluating a deal.

Why is this a good market to invest in? What are the pros and cons of that specific market?
Who’s the operator? What markets have they operated in before? Do they have property managers?
What are the assumptions you're making with respect to expenses and vacancy rates?

Mentioned in the show:

www.nextlevelincome.com
The Next Level Income Show
His LinkedIn
chris@nextlevelincome.com
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Chris Larsen for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Lee Yoder, a multifamily investor and podcaster. In this episode, we dive deep into buying your first multifamily property. Lee shares his 5 steps to success in your first deal, common mistakes and how to avoid them, and why multifamily is the best way to reach true freedom in your life. If you’re ready to take the leap into multifamily investing then don’t miss out on this episode!

Learn more about Lee Yoder and his journey at reiclarity.com!

“At the beginning of your journey, ask yourself these questions - Could I do my job part-time? Could I free up some time to do this as a side hustle?”

03:55

Lee started his career as a physical therapist and later worked in a startup company. Here, he realized that he was passionate about numbers, business, and building companies, so he turned to real estate.

Lee got into real estate by flipping a single-family property. He soon bought a duplex, then a 16-unit, and finally a 45-unit property.

“The cap rate, what the owners are doing now, that's all how the property is performing right now. I'm much more concerned about how's the property gonna fare in the future. “

08:22

Lee’s 5 steps to successfully purchasing your first multifamily property:

Getting educated: Books, podcasts, and courses are helpful but you can learn a lot from a flip too.
Networking: Be active in your community, join your local RIA, or start a podcast.
Understand underwriting: Practice running the numbers 3-5 times a week.
Start building your team: Find a good property manager and get a good lender or mortgage broker. Networking can also help you with that.
Start making offers: Put your knowledge into action. There are ways to get out of an offer, so don’t be afraid to take this last step.

Focus on the step that is ahead of you and always move forward. By the time you reach step 5, it’s not going to look that scary. The hardest deal is always the first one, so whatever you can do to get over the hump is worth it.

Lee talks about mistakes he made along the way and how to resolve them. According to him, always focus on networking and getting good referrals on the people you’d like to work with. Also, make sure you raise more money than you think you'll need because you don’t want to go back to investors.

“I'm not saying that everybody needs to go full-time in real estate, but you can create passive income with it and really change your life. “

37:48

At the end of the episode, Lee picks an action step from the REI Clarity Framework that is the most valuable for him. This is the “Forecast Your Future”.

Lee loves real estate investing because he can work hard if he wants to but his work is very flexible. This gives him more time to spend with his family.

For Lee, forecasting the future means that he can create freedom for himself and his family and create a better future.

Mentioned in the show:

https://threefoldrei.com/
Contact Lee Yoder
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Lee Yoder for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is AdaPia d’Errico, a real estate investor, author, and speaker. In this episode, we talk about shifting our mindset and following our intuition. In the first part of our conversation, we dig deep into how to listen to ourselves and make better decisions. We follow that with AdaPia’s journey into investing with a limited partner entity, a niche space in syndications. If you’re ready to elevate your game in multifamily investing, then this episode is for you!

Learn more about AdaPia and her journey at reiclarity.com!

“What I realized in all of this is that intuition is subtle, but we are hardwired for it.”

04:03

AdaPia is the author of the book Productive Intuition, where she explains why and how we can listen to our intuition to make better decisions in life. She had a long journey with self-discovery and she wrote the book for people to get centered, aligned, and to trust themselves.

AdaPia always considered herself as a “control freak”. However, over time, she realized that no matter how hard she tried, she couldn’t create predictability in her life. She shifted her mindset from trying to control the outcome to controlling her reaction and from being reactive to being responsive.

AdaPia shares her method of connecting to the subtle and trusting yourself. If you’re faced with a challenge - stop, breathe, notice your thoughts and feelings, and don’t take immediate action. Listen to your body’s signals and choose your response.

“If you're coming with us, the pro is definitely the underwriting. You get really thorough due diligence.”

24:57

AdaPia is the VP of strategy at Alpha Investing, a private equity real estate company. They present highly vetted institutional quality real estate deals for their investors. And they’re a source of capital for operators.

Alpha Investing has a very specific focus on needs-based multifamily. This means affordable housing projects and senior living spaces. Their primary function is to underwrite and they take a 20% performance fee after the investor has received 10% per year.

“I really don’t think you can get that far if you’re not contributing to somebody else’s getting far.”

40:21

At the end of the episode, AdaPia picks an action step from the REI Clarity Framework that is the most valuable for her. This is the “Rise By Lifting Others”.

AdaPia recommends always helping others because it’s uplifting. It takes us out of the scarcity mindset and puts us into extreme gratitude. You can take this same mindset and use it in business.

Mentioned in the show:

https://www.productiveintuition.com/buy-here
https://www.alphai.com/
Her LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to AdaPia d’Errico for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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This show is a big milestone for us because we’re celebrating our 50th episode! Today, we share what we’ve learned from our fantastic guests on the show so far, and walk you through the REI Clarity Framework. These 9 action steps will help you to succeed in real estate, no matter where you are in your journey. If you’re ready to reach true freedom through real estate, then don’t miss out on this episode!

Learn more about the framework at reiclarity.com!

The purpose of the REI Clarity Podcast is to create freedom through real estate to be able to do the things that you want to do with your time. During our 50 episodes, we talked to many successful and inspiring entrepreneurs and business owners in the real estate industry. They all had a few things in common, that helped them succeed.

We gathered these things into a 3-pillar, 9-action step framework, that will help you build your business and reach your real estate investing goals.

05:23

Clarity: The first pillar is about mindset and knowledge.

Know Your Strategy: Start with a plan to outline your overall strategy.
Find the Money: Figure out where your investment money will be coming from.
Forecast Your Future: Visualize the future. It will motivate you, and it’s the map that lays out your strategy.

09:46

Connections: This pillar gathers the ways to build healthy and valuable connections.

Build a Team: The team you are creating is your support crew. Find people you can rely on to give you good advice on certain areas that you may not have expertise in.
Establish Your Mentors: Find a mentor whose vision and guidance you trust to lead you through your journey.
Grow Your Community: Whatever situation you are in, you always need a supporting community.

17:34

Implementation: This is where all of that inner work is channeled outward.

Take the Risk: Find a nice medium between jumping into the deep end and never getting into the water at all.
Exit Gracefully: Have clarity on your exit from the start so nothing will be confusing or unexpected when the time comes to exit the deal.
Rise by Lifting Others: The people who are supporting you lifting you up. Offer the same level of support to others.

You can download the REI Clarity Framework here to help you on your journey too.

We appreciate you listening to the REI Clarity Podcast and we’re excited about the next 50 episodes!

Mentioned in the show:

Jeremy’s LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Brian Burke, a passive real estate investor, author, and public speaker. In this episode, we focus on limited partner investing by talking about how to find a good deal, what to look out for in sponsors, and how to take numbers and turn them into stories. If you want to know how to make better decisions as a passive investor, this episode is for you!

Learn more about Brian and his journey at reiclarity.com!

“Real estate syndication is basically a group of people getting together for a common purpose that's led by one individual, company, or organization.”

06:37

Brian has been a passive real estate investor for over 30 years. At the beginning of the show, he talks about the basics of real estate syndication and passive investing.

According to Brian, a good passive investor is someone who has investment goals that align with the business plan of the investment. Passive investing works best for high net worth individuals who plan long-term. Brian suggests diversifying your asset groups and asset classes as well.

The 2 ways to become an accredited investor:

Have a $1M net worth that doesn't include the equity in your home.
Make more than $200k of annual income in the most recent 2 year period or $300k for married couples.

“You don't want to find deals to invest in. What you want to find are sponsors to invest with.”

18:14

Brian explains that the first thing to look at in a syndication is the sponsor who brings the opportunity. Look into how they underwrite, how they approach deals, and what their thought process looks like.

For people who want to become sponsors, Brian suggests building trust. In the beginning, this can be established by working with people they personally know, like friends and family, or by connecting with experienced sponsors and becoming a part of a team.

The key indicators to determine if the deal is good or not:

Location: Select markets where people are moving in rather than moving away.
The condition of the unit: Look into opportunities to make improvements and create an immediate value.
Underwriting: Check if the sponsor’s underwriting is achievable or not.

“It's all about the story that the numbers are telling and which stories are a fit to your individual needs.”

38:57

The 3 main performance indicators to think about when looking at a deal:

The internal rate of return: This is an estimate of the value the property generates during the time frame in which you own it.
The cash on cash return: It is the ratio of annual before-tax cash flow to the total amount of cash invested, expressed as a percentage.
The equity multiple: It calculates the expected or achieved total return on an initial investment.

No one indicator is more important than the other. It all depends on the individual investor’s goals.

Mentioned in the show:

https://praxcap.com/
Brian Burke - The Hands-Off Investor
His LinkedIn
https://www.diaryofanapartmentinvestor.com/
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Brian Burke for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Matt Faircloth, a real estate investor and author. In this episode, we dig deep into the key members you need in your multifamily team, how to set reasonable expectations, scaling fast, and how to exit a deal gracefully. If you’re ready to take the leap from single-family to multifamily investing, then this episode is for you!

Learn more about Matt and his journey at reiclarity.com!

“The mantra for my company is to transform lives through real estate.”

04:41

Matt started his career in sales. He got interested in real estate investing after reading Rich Dad, Poor Dad and started investing in single-family homes.

Now Matt and his wife run a primarily residential real estate company together, but they have some commercial tenants as well. They acquired around 150 single-family units before they took the leap into multifamily.

“There are 4 very distinct activities in multifamily, and different personality traits that fit very well inside those buckets.”

12:26

Matt breaks down the different roles in a multifamily team. He believes that everyone has their own talents that need to be appreciated.

The 4 personality types that should be represented in your GP team:

The Hunter: These types of people are good at acquisition. They are good connectors, closers, and negotiators.
The Brain: They are good at analyzing deals and running the numbers, so their role should be the underwriter.
The Money: They are good at financing and raising capital, so they should assemble the debt and the equity.
The Hammer: This type of personality should be the asset manager. They are very driven to implement and fulfill the business plan.

These 4 personality types together can find the deal, create the business plan, finance the deal, and fulfill the plan successfully.

“Real estate investing, including apartment buildings, is a marathon. This is not a six-month or two-year type of deal.”

34:07

Matt talks about how to set expectations when you’re planning to leap from single-family to multifamily investing.

The 2 paths to choose from:

Start on a small scale and double your portfolio every time you do a deal. Document your process and build your team as you go. This way you’re financially responsible, but also fully in charge of the process.
Think about your talents and find out which of the 4 personality types matches you the best. Then find yourself a real estate team that is either forming or has had some successes, but wants to get to the next level. It’s important to have someone on the team that already has experience, so you can grow faster.

“The market will pay you a better price for a deal that has potential than a deal where you've knocked out everything that could get knocked out.”

45:03

At the end of the episode, Matt picks an action step from the REI Clarity Framework that is the most valuable for him. This is “Exit Gracefully”.

Matt’s advice for a successful exit is to put yourself in the buyer’s shoes from the start. Leave some “meat on the bone” for the new buyer, so they can have some opportunity to take it to the next level and add value. You get a better cap rate this way.

Mentioned in the show:

https://www.derosagroup.com/
His LinkedIn
Matt Faircloth - Raising Private Capital
https://www.diaryofanapartmentinvestor.com/
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Matt Faircloth for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Sandhya Seshadri, a syndicator and asset manager. In this episode, we dig deep into how to successfully invest in multifamily. We discuss the 5 key steps to passively invest in multifamily, how to find the best deals, and what to look out for when investing. If you are someone who is either raising capital or has the capital to put into someone else's deal, then this episode is for you!

Learn more about Sandhya and her journey at reiclarity.com!

“The more you learn and know about something, the less of a risk and gamble it is.”

03:39

Sandhya had a successful corporate career in engineering. At first, she started investing in the stock market as she wanted to get savings on taxes on her capital gains. However, she soon realized that real estate was the best way for her to diversify.

Sandhya chose passive investing in multifamily because she didn’t want to deal with the 3Ts (tenants, toilets, and trash). She found this asset class to be the safest because apartments are a fundamental need.

“You should roughly make $200k on a $100k investment today, within a five-year span.”

09:57

Sandhya shares her 5 key steps to take to succeed in passively investing in apartments.

Clarify your financial goals. Remember that any real estate investment in multifamily is not going to be liquid, so you won’t have access to those funds for 3 to 5 years.
Define your overall personal goals and strategy. Your strategy should be different if your plan is to leave your day job or you just want to invest on the side.
Vet your sponsorship team very carefully, especially if you plan to stay as a permanent passive investor. Find a sponsorship team with a strong track record in a market that is going to be cash flowing. Social media and podcasts are a great way to network, find sponsors, and dig deeper into their track records.
Choose a market that has a diversity of jobs and is landlord-friendly to minimize your risk. The market is one of the most important things when analyzing a deal. Sandhya’s advice is to factor into your market study the median household income within a 1-mile radius.
Plan your financials off of the deal. Sandhya suggests conservative underwriting. This means you want to have an exit cap rate that is higher than your entry cap rate by at least .75 to 1 point. Validate every number by having the sponsors justify them.

“You need mentors to help you accelerate your path.”

50:09

At the end of the episode, Sandhya picks action steps from the REI Clarity Framework that are the most valuable for her. These are “Establish Your Mentors” and “Take the Risk”.

Establishing your mentors can start with books or podcasts. You can figure everything out on your own, but it’s way faster with mentors to learn from. The more you get educated and the more knowledge you have, the lower the risk is.

Mentioned in the show:

multifamily4you.com
Sandhya’s free checklist to vet a sponsorship team
Her LinkedIn
James Kandasamy - Passive Investing
https://www.diaryofanapartmentinvestor.com/
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Sandhya Seshadri for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Brian Briscoe, an apartment syndicator and podcaster. In this episode, we dig into the 4 crucial elements of any investment strategy: assets, market, team, and deal. Brian shares his strategy, the right mindset for an investor, and what he learned as a Marine that you can use in your business as well.

Learn more about Brian and his journey at reiclarity.com!

“You really need to have that same mindset with multifamily investing or creating a business as in the military. There's no other answer besides getting it done and succeeding.”

03:12

Brian served as an active duty US Marine which helped him to create a “never give up” attitude.

He has this mindset in his real estate business as well and for him, success is inevitable.

According to Brian, the traits that successful investors portray are confidence and honesty. If you have the right strategy, trust in yourself, and understand the value that you’re bringing to your investors then you will succeed. Be honest with people and don’t push deals on them that are not a good fit.

“At the end of the day, you have solid returns for a relatively low amount of risk and that's what drives me to multifamily.”

13:11

Brian digs into his strategy based on the REI Clarity Framework. The 4 main elements of every good strategy are assets, market, team, and deal.

Assets: Brian is committed to the multifamily asset group. There’s always going to be a demand for shelter and it is proven to be the most resilient for downturns.
Markets: Brian is looking for markets that have strong tailwinds. Based on nationwide trends, money is moving from high cost of living areas to low cost of living areas, from urban areas to the secondary and tertiary markets, and from North to South.
Team: Brian’s advice is to have like-minded people in your team of operators that are committed to providing value. Find one trusted service provider who can suggest other great service providers to you.
Deal: You make money on a deal by solving problems. Brian suggests finding out how to add value to the property and doing a lot of underwriting. You could underwrite 50-100 deals until you come across a good one.

“Whenever you're in a position where you're doubting yourself, the best way to get out of it is to be proactive.”

31:36

At the end of the episode, Brian talks about mindset. He suggests discovering your “big burning why” because that will always drive you forward and won’t let you quit.

Brian choose multifamily investing and stopped being an active duty Marine because he wanted to be more present in his family’s life and have more time freedom.

Mentioned in the show:

https://www.fouroakscapital.com/
His LinkedIn
https://www.diaryofanapartmentinvestor.com/
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Brian Briscoe for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Chris Ressa, a retail investor whose, company DLC Management, operates and manages thousands of units of retail properties. In this episode, we talk about the future of retail, the crucial parts of a commercial real estate team, and the best ways to invest in different asset classes. If you’re planning to take the leap from residential to commercial real estate investing, this episode is for you! Learn more about Chris and his journey at reiclarity.com!

“I like to solve challenges people think are unsolvable and do what is considered undoable.”

06:40

Chris’s company owns open-air shopping centers and strip malls with thousands of units of retail properties. In retail, leases are generally more complicated, long-term, and challenging.

In the commercial real estate industry, there are more legal decisions to make than in residential, but Chris encourages every business owner to make their own business decisions. The business decision-makers should be moving the strategy forward and the legal advisors should make sure that the business decisions are sound.

“I recommend business owners to hire W-2 employees when they've got the capital behind them to grow the business, or when it's too hard to manage the third-party service providers because they're too successful.”

25:28

Chris talks about some reasons to get into the commercial real estate space:

It’s an alternative investment, so you can diversify your portfolio.
Depending on the type of commercial real estate, the leases can be set up in a way that they are pure mailbox money for many years to come.
The return profile can be very good.

Chris is operating a large business with around 130 employees. According to him, the key to success is to have a great team. In the beginning, he doesn’t recommend hiring everyone as a W-2 employee, because it is much more sustainable to have third-party teams.

When your business doesn’t just invest in - but owns real estate, that is when you should have W-2 employees who only work for you.

Chris recommends always having someone in your team who helps you identify opportunities and someone who helps you finance deals.

“Everyone shops online and no one shops at the store anymore. So the first thing is... that this is not true.”

48:57

Even though recently it is said that retail is struggling, Chris explains that it is not true. 85% of sales are still done in physical stores even during the pandemic. The cost of entry is way lower to start an online store, however, the stores that have a physical presence can scale better.

Groceries, material, and value items are expected to stay mostly in brick-and-mortar stores and not move to the online space any time soon.

57:31

At the end of the episode, Chris picks an action step from the REI Clarity Framework that is the most valuable for him. This is the “Build a Team”.

The number one thing he is doing every day when it comes to his team is connecting with them and making sure that he helps them grow their careers. He is trying to remove obstacles in their day job.

Mentioned in the show:

https://www.dlcmgmt.com/
His LinkedIn
Retail Retold Podcast
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Chris Ressa for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Billy Keels, an international real estate and real assets investor. In this episode, we talk about long distance investing strategies, the importance of your team, and how to get clear on the asset that works best for you. Whether you’re investing in your backyard, or out of the country, this episode will help you gain more clarity on your strategy! Learn more about Billy and his journey at reiclarity.com!

“You can invest wherever in the world in whatever type of assets make sense for you.”

04:44

Billy had a successful career as a high-level sales executive. After having his investments fluctuate on the stock market, he read Rich Dad, Poor Dad and decided to start real estate investing.

Billy was living in Spain and first thought he would buy an apartment in Barcelona to start his investing journey. However, he soon realized that he could invest in the United States as well.

Now, he has real estate and real asset investments all over the world because geographic freedom is very important for him. His diverse portfolio contains large multifamily syndications, mobile home parks, pieces of equipment in the energy space, and ATM machines.

“Everything starts with - what is it that you want this asset to provide you?”

08:26

According to Billy, to become a successful long distance investor you need to:

Invest the time to understand the location.
Know the team and make sure they know the location as well.
Make sure the operator is in town or physically close to the property.

In the episode, Billy talks about the similarities and differences between the syndicator, sponsor, general partner, and operator. The syndicator, sponsor, or general partner are the ones who bring the capital together. The operator is the one who’s operating the deal on a daily basis.

“There's a lot of value in being able to understand who are the absolute best operators in a specific area, and then being able to connect them with investors who are interested in finding the best opportunity for their capital.”

34:24

Billy is a big advocate of diversifying your assets. As a syndicator, he connects operators and investors. Having diverse assets help him offer more diverse opportunities.

According to Billy, if you are offering different types of assets, you can find more investors and still be specific with your offer.

“Teamwork makes the dream work”

39:40

At the end of the episode, Billy picks action steps from the REI Clarity Framework that are the most valuable for him. These are “Know Your Strategy”, “Build a Team”, “Establish Your Mentors,” and “Rise by Lifting Others”.

For Billy, building your team means everything because being a long distance investor would not be possible without it. Building lasting trust with the team is crucial for successful investing.

Mentioned in the show:

https://www.growyourmoneythesmartway.com/
billykeels.com
energy@billykeels.com
Going Long Podcast with Billy Keel‪s‬
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Billy Keels for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Edna Keep, a real estate investor, author, and coach with around 600 units of multifamily. In this episode, we talk about her 5 steps for attracting investors, setting yourself up to succeed in multifamily, and how to cashflow $5k fast. If you’re ready to take the leap from side-hustle to full-time investing, then this episode is for you!

Learn more about Edna and her journey at reiclarity.com!

“Within 18 months, we were inducted into Robert Kiyosaki’s Hall of Fame because we had purchased 50 doors and hit our $5000 a month goal.”

02:43

Edna was a financial advisor in Canada and started real estate investing in 2001 by pulling equity out of her house. She picked up 144 units early on in her journey and became a full-time investor.

Edna’s advice on how to be successful in REI from the start is to work with a professional mortgage broker.

“I've never wanted to be the managing partner because I don't claim to be the expert in that area. But you can't close the deal without the money. So that was what I was able to bring to the table.”

09:11

Pulling the equity out of Edna’s home allowed her to buy 2 condo units which were only cash flowing $800 a month. She used creative financing, like vendor and investor financing to reach $5k a month in just 18 months.

For the 144-unit apartment complex, she partnered up with someone in her training course who was able to find the deal but couldn’t finance it. As Edna was a financial advisor, she was able to find the money and the deal ended up a huge success for everyone involved.

“It's easier to manage one building under one roof, and it's reduced risk because you got 10 or 12 people paying the mortgage instead of 1 or 2.”

18:39

Edna has a 5-step investor attraction system.

Have the right mindset: You have to understand that you can bring a lot of value to the table even if you don’t have money. You can find or manage the deal.
Start thinking bigger: Instead of purchasing multiple single-family homes, look into multifamily options for better cash-flow and easier management.
Know how to find and analyze a deal.
Get a coach who’s done what they’re teaching you.
Get around like-minded people who can support you on your journey. This includes your team as well.

According to Edna, if you have all these 5 steps aligned, the money will come and investors will want to work with you.

“You make money only if your investors make money.”

41:58

At the end of the episode, Edna picks action steps from the REI Clarity Framework that are the most valuable for her. These are “Establish Your Mentors” and “Rise by Lifting Others”.

For Edna, “Rise by Lifting Others” means educating the people that you're interested in investing with, so you can all make an educated decision. The first time you try to get investors to invest with you is the hardest, so as long as you’re helping them invest in the deal, you will have plenty of investors in the long run.

Mentioned in the show:

https://ednakeep.com/
Her LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Edna Keep for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Adam Adams, a multifamily investor and podcaster. In this episode, we talk about growing your brand, building lasting influence in your industry, and why podcasting might be the best way to network. If you’re ready to become a thought leader and build a strong presence in your industry, then this episode is for you!

Learn more about Adam and his journey at reiclarity.com!

“I would say that real estate is pretty much the biggest, and most common people business.”

05:00

Adam talks about the importance of building a brand as a real estate investor. Real estate is a people business, so the best way to get to know as many people as possible is to have a strong brand and build a community around it.

According to him, people have to go through 4 steps before they decide to invest with you. They get to know you first, then like you, trust you and eventually be ready to work with you.

Therefore Adam suggests thinking backward, and focus on networking. In his experience, if you want to have 1 deal, you’ve got to have 10 people who trust you, 100 who like you, and 1000 who know you.

“When you have your own thought leadership platform, you're going to be booked on so many other podcasts so much easier. And it's going to be less costly as well.”

08:27

Adam shares his 3 pillars of influence that will help you to get in front of people as the first step of your funnel.

Have a thought leadership platform: This can be a podcast, a book, a Facebook group, etc.
Meet in person: Organize a meeting, a conference, a workshop offline or online. The goal is to meet people face to face.
Build your social media presence.

The fastest way out of these 3 pillars is to have a thought leadership platform, and the best way to that is to start a podcast.

“If you have the financial means to outsource and work on the business instead of in the business, so on the podcast, instead of tedious editing, that'll be a huge help for you.”

18:26

Although there are approximately 1.9M podcasts as of 2021, it is still a growing market. Every business owner has a place in the industry, you just need to know your avatar, and be consistent.

For business owners who want to start a podcast, Adam recommends outsourcing the production, and do at least 1 episode a week. Consistency is key when trying to get onto the podcast charts, so streamlining your production is important.

39:30

At the end of the episode, Adam picks action steps from the REI Clarity Framework that are the most valuable for him. These are the “Know Your Strategy”, “Find the Money”, “Grow Your Community”, and “Take the Risk”.

Out of these 4, “Find the Money” is the most important step according to Adam, even more important than finding the deal.

The steps to take before finding a deal:

Get educated.
Find a strong market.
Build out your team in that market.
Raise the money and try to get at least 66% pre-commitments.
Find a good deal.

Mentioned in the show:

https://realbluespruce.com/
growyourshow.com
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Adam Adams for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Maurice Philogene, a real estate investor and coach, public servant, federal agent, and philanthropist. In this episode, we talk about having the right mindset and systems, the 5 types of freedom, and why you need systematic patience if you want to be successful in investing. Learn more about Maurice and his journey at reiclarity.com!

“If we're not growing or expanding as people, then we're contracting.”

04:11

Maurice achieved solid financial success even before he started real estate investing. He traveled to 96 countries, served as a police officer, and had a consulting career.

The 2 main reasons why he started real estate investing were the challenge and the passive income. Maurice started investing when he was 23 and over the years he built a portfolio of 35 single-family homes.

According to Maurice, the most important thing in real estate investing is systematic patience. Many people are not patient enough to wait 10-12 years to be able to live off of their passive income.

“I would rather make 5000 bucks a month passively than make 300 grand a year non passively and have to be in an office”

15:36

Maurice talks about the 5 types of freedom. He says if we can focus on one or more of them, we tend to be happier as people.

The 5 types of freedom:

Financial freedom: For Maurice, it’s coming from the passive income he makes.
Time freedom: An example is Tim Ferriss’ 4-hour-workweek.
Geographic freedom: Maurice doesn’t have a physical office or employees because he wants to be able to work from anywhere in the world.
Freedom of purpose: For him, it means doing something impactful and help people.
Freedom of relationships: To be able to connect with interesting people and leave toxic relationships behind.

These freedoms can mean different things to different people and the way of achieving them varies.

“I want to be the first person in my family who leaves a significant legacy. So I've moved into the realm of how I can be the best philanthropist that I can possibly be.”

24:56

Maurice has a 4-pillar framework that he uses in real estate investing.

People: He wants to help people with his business.
Properties: He only purchases properties that match his investing goals.
Profit: This supports his freedom and purpose.
Philanthropy: It’s important for Maurice to take the revenue his company is creating and put it towards something bigger to give back to people.

“Mentors accelerate you”

30:50

At the end of the episode, Maurice picks 2 action steps from the REI Clarity Framework that are the most valuable for him. These are the “Build a Team” and “Establish your Mentors.”

Building a team was very important for Maurice because he could only begin multifamily investing by having a great partner and a reliable team. He took the leap and now has 9 large multifamily complexes in his portfolio.

According to Maurice, he has a mentor for everything. He recommends investing in yourself because mentors accelerate you. For people who don’t have the ability to financially invest in a mentor, books and podcasts can be a good starting point.

Mentioned in the show:

https://www.thequattroway.com/
His LinkedIn
His Instagram
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Maurice Philogene for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is John Blanton, a successful sales executive and real estate investor. In this episode, we dig deep into the power of mindset and talk about knowing your strategy, understanding your desired outcome, and experiencing it little by little. If you want to think different, earn different, and live fulfilled, this episode is for you! Learn more about John and his journey at reiclarity.com!

“What do we really want as the outcome? Not what's the input, but what's the outcome? And then how do we start working back from that?”

04:55

John grew up in a family where his father was working so much that he wasn’t around most of the time. Therefore, John’s goal was always to be more present in his children’s lives.

He started his career in personal training and coaching in club baseball, but he didn't have the free time that he wanted, so he transitioned to sales. He started to make a lot of money, but he still wasn’t satisfied with his journey. Eventually, John decided to start real estate investing so he could achieve financial freedom and have enough time with his family.

According to John, it is very important to figure out what we really want and not to just follow society’s expectations. His “Why” is to live a purpose-driven, fulfilled life where he can be present with his family.

“The biggest factor to defining your purpose and your “Why” is your risk tolerance.”

12:50

John recommends starting with the end goal and desired outcome in mind and then work backward from there. This will define your strategy.

Many people have financial freedom in mind when they think about their end goal. John mentions 2 paths to achieving financial freedom:

Minimize your expenses significantly.
Find a way to increase the velocity of your capital and grow your income.

John’s advice on how to take the leap as a young investor:

Networking is key.
Find a way to make more money. Wholesaling or side-hustles can be a good idea.
Be honest with yourself and become clear on what you truly want.
Celebrate your accomplishments.

According to John, the best entrepreneurs are not necessarily the best risk-takers, but they're the ones that are the best at mitigating their risk.

Mentioned in the show:

Brian Burke - The Hands‑Off Investor
Adam Grant - Originals
https://www.contrariancashflow.com/
https://www.peakcapitalgrp.com/
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to John Blanton for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Allison Weiss, a commercial real estate recruiter. In this episode, we talk about building your team, how to work on your business instead of in your business, and how to find great people for your CRE team. If you’re ready to put down a solid foundation for your business and scale, then this episode is for you! Learn more about Allison and her journey at reiclarity.com!

“I certainly bring my creativity to what I do every single day.”

01:36

Alison started her career as an art teacher. After 9/11, art was the one thing that helped her cope with the situation and made her realize how art can help other people too. She says that both art and teaching shaped her view on commercial real estate investing.

Now she is bringing people into the commercial real estate space. She grew up in an environment where she could learn a lot about how businesses function and this led her to eventually choose commercial real estate. She works with boutique and entrepreneurial firms that have greater aspirations for growth.

“Think about what are the things that really fit into your zone of genius”

08:33

Allison’s advice on some of the first steps someone can take towards building a strong business foundation:

Write down all the business processes and daily tasks for your business.
Then take a step back and think about which things on the list fit into your zone of genius.
Try to spend 80% of your time with the things that are in your zone of genius.
Then tackle the tasks you dislike the most through outsourcing or automation.

Allison also talks about the next step which is ow to build your core team:

Identify the different parts of your business and build systematic workflows to the best of your ability.
Evaluate them often to see where the bottlenecks are. Is it the systems that you have in place, is it the people, or is it the bandwidth that’s creating the bottleneck?
Aim to work on your business and not in your business.

“I think sometimes we unnecessarily complicate things.”

31:39

Allison has some great advice on how to work towards the goal of working on your business instead of in your business:

Have discipline in creating habits and frameworks that you use to approach your day
Focus on the first 2 hours and the last 2 hours of the day.
Have non-negotiables in your life
Create boundaries around when you do certain things

If these are too overwhelming for you, Allison recommends choosing just 1 thing and try to implement that. Once it becomes a routine for you, you can move on to the next thing.

According to Allison, she is not a traditional recruiter but more of a matchmaker for CRE businesses. She believes that if companies put their people first, the property aspect of the business takes care of itself. She wants to make commercial real estate a great place for everyone and to foster alignment between CRE companies and their employees.

“The biggest difference for me and in my career are introspection and execution.”

45:04

At the end of the episode, Allison picks an action step from the REI Clarity Framework that is the most valuable for her. This is the “Forecast Your Future.”

Forecasting her future means introspection and execution for Allison. She spends a lot of time envisioning how she wants her life to look like from both a business and a personal standpoint.

She recommends finding your endpoint, visualizing your endpoint, and then creating steps towards it.

Mentioned in the show:

Her LinkedIn
https://www.creatwork.co/
https://www.crerecruiting.com/
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Allison Weiss for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is James Kynes, the broker CEO of Rushman Moore Real Estate Group, who specializes in tenant representation and business brokerage. In this episode, we talk about how he helps to connect businesses with the right buildings, how you can set up your properties to be attractive to businesses, or how to package your company to sell it to other people. Learn more about James and his journey at reiclarity.com!

“What brought me to real estate was actually the love of transactions.”

03:23

James started his career in sales and business development. He also worked in the entertainment industry and ran a barbershop. Soon, he realized that he liked business to business type of work the most. Eventually, he had an opportunity to work with a group of business brokers, but first, he needed to get his real estate license.

James had many connections from his successful barbershop which helped him make the transition to business brokerage.

“We help position our clients for better deals or better locations to be more desired by landlords.”

17:10

James got interested in tenant representation in commercial real estate when he completed a class on the topic. He realized that it really fit his background and experience as he had a large network.

Being a tenant rep means connecting commercial retail, land, or industrial spaces with quality tenants to help the investors become more cash flowing and improve the property. James represents the tenant and helps them with strategies and branding to find the best spaces. This also helps the landlords to have solid, reliable businesses in their spaces.

The landlord pays a commission fee on the transaction, usually 6%, that's split 50/50 between the landlord’s representative and the tenant rep.

According to James, tenants are looking for these top 3 things in a commercial property:

Great location
Fits their budget
A fair, knowledgeable landlord

“You have to have a dream that's big enough that you can fit somebody else's dream in it.”

36:02

At the end of the episode, James picks an action step from the REI Clarity Framework that is the most valuable for him. This is the “Grow your community.”

James’s advice is to get involved in your community and get into the mindset of giving back. For example, he began volunteer coaching to add value to other people’s lives.

According to James, it is helpful to be a part of professional groups as well, but make sure that you are not the most experienced and knowledgeable person in the room, so you can keep learning.

Mentioned in the show:

http://www.getstartedwithrushmanmoore.com/
james.kynes@rushmanmoorereg.com
His Phone number: 6783602744
His LinkedIn
www.shineinsurance.com/reiclarity
The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to James Kynes for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Josh McCallen, a hotel flipper and investor. In this episode, we talk about what it means to run and flip resorts, how he has navigated this strategy through COVID, and how you can elevate your business and investment strategy. This conversation is going to help you move from motivation to momentum and find the clarity to take action. Learn more about Josh and his journey at reiclarity.com!

“Now it's the worst and also the best time in history. It's a Warren Buffett time to buy resorts.”

04:29

Josh started his real estate career as a beachfront house flipper and developer for a very high net worth person. They were very successful, but when the '08 crash hit they had to close the business.

A few years later, as the recession was quieting, Josh reconnected with his partner, who had already moved to buying old Jersey Shore hotels. This is how he got into the industry.

While working on their investing strategies and learning how to successfully flip resorts, hospitality became Josh’s life calling. Their hotels are some of the best in all of America.

“We make revenue from 5 to 8 revenue streams all the time, at the same time.”

11:45

Josh’s advice on how to create incredible value and service, no matter if you are a hotel flipper or a multifamily investor, is to always have multiple revenue streams. Josh has 5-8 revenue streams all the time. This can be golfing or waterfront experiences that add to his hotels’ value. They force appreciation and increase NOI through revenue.

Josh made many profitable changes in his resorts during the pandemic. For example, he created an outdoor dining space for social distancing. They also had many weddings that were pushed to 2021. They didn’t refund anyone, just rescheduled the weddings so they didn’t lose money.

“Everybody's got to make hard, tough tactical choices every day. And yes, if you know where you're going, I think you can handle those rocky roads.”

35:46

According to Josh, the best way to elevate a business or investment is to have clarity. Get clear on what you are called to do or what makes a true impact, and follow that.

The 3 main pillars of how he operates his businesses:

Culture: Josh always aims for what is best for their guests. He only hires people who find joy in their work.
Hospitality: The words hospitality, hospital, and hospice have the same Latin origin. Josh incorporates the same level of care in his hotels that nurses have in a hospital.
Ministry: His goal in everything he does is to make the guests feel loved.

Josh says that everybody makes moves in their business for 2 things, either to create impact or to create income. The people that really achieve a lot are the ones that are shooting for impact because the money and the income is just the added benefit.

Mentioned in the show:

http://accountableequity.com/
His LinkedIn
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Cody Payne, an office and industrial investment specialist. In this episode, we dig deep into the office and industrial asset class, talk about the dos and don’ts, and the best ways to invest. If you want to know how to invest in office or industrial during the pandemic or how to build relationships with brokers to get the best deals, this episode is for you! Learn more about Cody and his journey at reiclarity.com!

“I don't like having a tenant that has more than 15% or 20% of the building. Because in the event that they leave, you’re in trouble.”

03:24

Cody specializes in the office and industrial asset classes. Recently, he sees many multifamily investors getting interested in commercial investing as the entry barrier is much lower due to the pandemic.

Cody’s advice on how to invest in office the right way:

Invest in multitenant offices, because the risk is spread out more. If it’s possible, don’t let a tenant have more than 15-20% of the building. This way, vacancy is not that risky and the lease rolls better too.
Try to find a space that is around 2-5000 sq ft.

Investing in office space in the middle of the pandemic can be risky. Therefore Cody suggests focusing on smaller businesses like lawyers, accountants, or similar general businesses. He suggests staying away from technology companies, where they can work from home and the larger national companies because their leases in some cases are very long.

19:40

What to look out for when investing in industrial buildings

Know the area very well where you plan to invest.
Understand your risk: know what to do if the building becomes vacant, or if the building needs a bigger renovation.
Keep it as minimal office as possible, around 10-15%, to minimize the cost.
Find a specialist who understands the product, because office and industrial buildings are one of the most expensive asset classes to operate.

“What we like is a strong, credible, “ready to execute” buyer.”

29:25

Cody talks about the ways to find the best brokers for your deals and how to build a good relationship with them.

Specify who you would want to connect with. In the office and industrial space, it is important to look for a specialist instead of a generalist.
Create a list of the best specialists in the town where you want to invest in and contact them.
Instead of just asking, always provide value.
If you are a new investor, find an experienced team to be credible for the brokers.

According to Cody, the 3 main things that can ruin the relationship over time are not being a serious buyer, reliable, or responsive.

Mentioned in the show:

https://texasofficeinvestments.com/
His LinkedIn
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Cody Payne for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Javier Hinojo, an investor who went from 0 to multiple multifamily properties in less than 5 years. If you are an investor who’s just getting started and wants to know what your REI journey could look like or you're ready to jump from the single-family space into commercial real estate, Javier has a ton of great information to share with you! Learn more about Javier and his journey at reiclarity.com!

“Just follow a proven system, find somebody that's doing it, then do what they're doing and actually do it better.”

03:11

Javier started his investing journey through the Rich Dad, Poor Dad seminar that he attended with his friend. He already made his first deal halfway through the seminar with his partner.

Soon they were doing 50 flips and 80+ wholesales a year. According to him, you don’t have to reinvent the wheel in real estate, you just have to find a mentor and do what they do the best you can. Don’t be afraid to take risks.

“I felt like I was scaling to unhappiness, and I couldn’t do that.”

06:48

Javier talks about the pros and cons of flipping and wholesaling.

Flipping:

Pros: It can make a lot of money fast.
Cons: It is very hard to only work on the business and not in the business, and most of the time it becomes a job. Flipping also doesn’t provide long-term wealth.

Wholesaling:

Pros: It is risk-free as you are essentially just selling paper. It is very lucrative financially.
Cons: When wholesaling, you don’t have a real estate business but a sales and marketing company. If you don’t love sales and marketing you will not like wholesaling. It still doesn’t provide long term wealth.

Eventually, Javier realized, that he wanted long-term wealth for himself and his family. He sold his single-family portfolio and started buying apartment buildings. His first deal was a 63-unit multifamily.

“The biggest thing in a partnership, just like in a marriage, is that you got to set the expectations upfront.”

22:00

Javier’s advice on how to build your strategy when you’re transitioning to commercial real estate:

The most important part is to believe in yourself and that you’re capable, so you don’t get in your own way.
Network. Connect with people you want to learn from and offer them help, instead of just asking for advice.
If you feel like you can’t do it by yourself, partner with someone who is totally different than you but has the same vision.

29:13

Javier’s last investment was a 116-unit mobile home park that’s worth around $4M. With the purchase price and the value-add moves, it costs around $1.4M-$2M, so it was a great success for Javier.

His advice about mobile home parks is to always go bigger because those have better loan options. Also, to find a very good deal, so even if things don’t go as you planned, you still make money.

Mentioned in the show:

https://www.allstatescapitalgroup.com/
His LinkedIn
His Facebook
Billion Dollar Multifamily and Commercial Real Estate Facebook Group
His Instagram
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Javier Hinojo for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Mike Fritz, an REI coach, leadership speaker, and podcaster. In this episode, we're digging into the relationship between general partners and limited partners in syndication deals for multifamily. If you want to know the process that an LP should go through to find the right deals or you are a GP and want to know how to do it better, then don’t miss out on this episode! Learn more about Mike and his journey at reiclarity.com!

“Real estate is one of the safest and best ways to build wealth and get to that financial freedom”

03:45

Mike is a general partner in multifamily and commercial deals. According to him, real estate is one of the best ways to build real wealth. It can create a continuous cash flow and multifamily deals generally have a strong recession resistance.

Mike’s way to decide where to invest in multifamily is to take these 3 factors into account:

Job growth
Population growth
Landlord-friendly location. This means it allows the removal of a tenant if they're not paying rent and unwilling to get assistance.

Mike’s advice is to always follow job growth in multifamily investing, as that is the most important factor. He loves to invest in the Mid-West and has all his investment there because the market is stable.

“I'm not willing to say you know what, let's just risk it. I make sure we have a proven track record.”

20:19

Mike talks about how to find the best deals as a limited partner. It is very important to have a good connection with the general partner and ask the right questions. These would be:

Why the GP chose this deal?
What class property it is? - Class D properties are not recommended because of appreciation and rent collection perspectives.
What are the systems of communication? - That will tell a lot about the operator.
How do they analyze deals?

“If you're trying to find a GP that's never had a bad deal, you're gonna be looking for a long time.”

29:25

Mike recommends choosing a general partner who has good experience but is still motivated. They don’t have to be someone who’s done thousands of units. A proven track record and a good personality can go a long way.

Mike talks about the 3 ways that a passive investor should expect to see funds in their journey through multifamily syndication:

Monthly cash flow: this comes from the rent and fees.
Equity on sale: whatever percentage you own of the syndication, you get that percentage of the profit.
A hybrid of the 2: the GP force appreciates the building, refinances it, then returns 100% of the money to the investors. They still get cash flow but they have no money in the deal anymore.

Mike uses the third approach in his company. He says, that the only downside is that the investors do have to leave 20-30% of their equity in the deal to leverage this opportunity.

Mentioned in the show:

His LinkedIn
http://titaniumcapitalhq.com/
mike@titaniumcapitalhq.com
Power Up Your Real Estate Podcast
Gary W. Keller and Jay Papasan - The ONE Thing
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Mike Fritz for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

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Our guest today is Ricky Beliveau, a real estate investor with millions of dollars of assets and multiple development deals in Boston. In this episode, we talk about what it really means to be a developer, how to move from side-hustle investing to bigger development deals, and why a developer shouldn’t do construction. Learn more about Ricky and his journey at reiclarity.com!

“By that point, it was cash flowing over $6000 a month over the mortgage. And then I was off to the races.”

03:17

Ricky studied finance entrepreneurship in college and fell in love with real estate investing through one of his classes.

His first deal was a 3-unit multifamily, where he did a house hack so he could live rent-free. Then he renovated the building in 12 months, and the property became cash flowing over $6000 a month over his mortgage.

According to Ricky, the 2 best ways to make a property more cash flowing is to either add more value to it or increase the rent. He has a strategy on how to successfully talk to tenants about rent increases that he shares in the show.

“The basics of development is adding additional value to a property through the uses of zoning or permitting”.

16:44

After his first successful rental properties, Ricky got into condo conversions. This meant that he bought a 3 family property, did the renovation, then split the single deed into 3 deeds, and sold them as 3 individual condos. This led him to do real estate projects, which eventually ended up in development.

At first, he sold the whole property and had no involvement after closing, but now he also has a property management company and manages the association into the future.

According to Ricky, a development deal is adding additional value to a property through zoning or permitting. Zoning or permitting deals usually works best on off-market properties, because it takes 24 months to finish.

“A true developer never does construction”

35:20

Ricky learned from his mentors that a developer’s job ends at the development so they should exit before the construction phase. However, he works with a general contractor who does the construction to further increase the profit on the deal.

Ricky’s development process:

Acquire the property
Develop with zoning or permitting
Build with the help of a GC
Sell or hold, or do both by staying as the property manager

Mentioned in the show:

http://www.volnaycapital.com/
ricky@volnaycapital.com
https://www.instagram.com/volnaycapital/
Christopher Voss and Tahl Raz - Never Split the Difference
Ryan Serhant - Sell It Like Serhant
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Ricky Beliveau for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Boone Tyson, a real estate investor in Texas. In this unusual episode, we go through one of his specific deals and talk about what went wrong with it, how he solved it, and how we can all learn from his experience. If you deal with insurance and want to make sure that it’s actually going to take care of you in a claim scenario, then this episode is for you! Learn more about Boone and his journey at reiclarity.com!

“I got a call at like 3 pm or 3:30 pm that the house was on fire.”

03:46

Boone is a real estate investor in Texas with a portfolio of cash flowing properties and flips.

In February 2020, he closed on a deal that he purchased from a wholesaler for around $85k.

Due to the emerging pandemic in March, the work got delayed significantly, but luckily, they were able to put the property under contract for $165k. Unfortunately, just a few days before the closing date, Boone got a call that the house was on fire. The vast majority of the main living area of the house was damaged. Boone had to act fast, so he stopped the deal to avoid lawsuits or any more inconvenience.

“I really expected our insurance agent was just gonna go to bat for us, and that's not what happened.”

17:03

After the accident, Boone called his insurance company and filed a claim. The insurance process lasted for around a month.

Over time, Boone noticed that the relationship with their local insurance agent became dodgy. They didn’t receive as much help as they needed. He now knows that the insurance agent sold them a rental policy instead of a flip policy and that caused many problems.

“The opportunity costs on this were bigger than anything else.”

32:25

After all this went down, Boone had around a $25k loss instead of a $35k profit.

His idea was to flip 2 houses and by the time they are finished, the damaged one would break even. This would take around 6 months.

Eventually, they connected with an independent insurance agent and were able to put the property under contract as well.

Boone’s advice on how to avoid what happened to him:

Ask the right questions and fully disclose the nature of your business.
Work with an insurance broker instead of an insurance agent of a company.
Get over your ego and realize when you should move on from a deal.

Mentioned in the show:

His LinkedIn
His Email
Boone Tyson on BiggerPockets
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Boone Tyson for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Reed Goossens, a real estate investor with more than $250M worth of assets. In this episode, we talk about how he became successful in just 8 short years, the pros and cons of multifamily investing, and the different roles you have to play as an investor. If you are ready to take the leap and become a powerhouse multifamily investor, then this episode is for you. Learn more about Reed and his journey at reiclarity.com!

“What drives me is the fear of regret.”

03:56

Reed was born in Australia and started his career as a structural engineer in London. In 2012, he moved to New York and started his real estate investor journey.

He was always adventurous and knew the importance of taking risks. This is one of the reasons why he got successful in his real estate investor business.

“You got to understand that the higher the cap rate, the higher the risk.”

08:14

After moving to the US, Reed realized that the real estate opportunities were much better here than in Australia. He got interested in multifamily investing after reading Rich Dad, Poor Dad, and 6 months after arriving, he already made his first deal. It was a triplex for $38k in Syracuse, New York.

The big lessons he learned from his first few deals:

Always do your due diligence and find out why a deal is unexpectedly cheap.
Diversify your portfolio to spread out the risks and get a more balanced stream of cashflow.
Know your ideal clients and the direction for your business.
Focus on your personal branding. Let your clients know who you are so they can trust you.
The team is the most important in your business, so be very specific about their roles and responsibilities.

“The bigger the pie, the more to share.”

28:45

Reed likes to invest in larger multifamily deals because they are more scalable. According to him, the benefit of that is that when there’s more money involved, it tends to attract more professional contractors.

It also comes with a lot more risks, so Reed works in syndications where the risk is shared.

Reed’s advice on how to take the leap from single-family investing to multifamily:

Build a reliable and strong team.
Invest in a good coach or mentor to get clear on the process.
Work with someone on the first couple of deals who has more experience, so you can learn and share the risk as well.

Mentioned in the show:

https://www.reedgoossens.com/
His LinkedIn
https://wildhorncap.com/
10000 Miles to the American Dream
Investing in the U.S. book
Kevin Harrington, Daniel Priestley - Key Person of Influence
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Reed Goossens for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

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Our guest today is Agostino Pintus an investor in the Cincinnati area. In this episode, we talk about how to structure a business and dig deep into the importance of having the right mindset and how to manifest success in your real estate investing work. If you want to shift your mindset and work through your mind’s limitations, then don’t miss out on this episode. Learn more about Agostino and his journey at reiclarity.com!

I was a C-level executive at a publicly-traded company. Looking at it now, it did give me an advantage about setting up structures.”

04:03

Agostino was very entrepreneurial from a young age. However, due to his family, he started his career in corporate America. He became a C-level executive and it gave him an advantage in setting up structures and creating strategies. He also learned a lot about people management and how important it is to have the right team.

Agostino’s advice on how to build the right relationships in your work life, no matter what level you are in, is the use the “Rule of 33.” This means to split your time into 3 segments and spend 33% of it with people above you, 33% with people below you, and 33% with people on the same level as you.

For most people, spending time with people on their level is the most comfortable, but not getting out of your comfort zone blocks growth.

“Just because you love your job, doesn't mean your job is gonna love you back.”

26:34

According to Agostino, the most important thing for a successful business or life, in general, is to have the right mindset. Working in a W2 job is like a drug because people get addicted to the money, and even though they are constantly worried about their job security or don’t like the job, they can’t quit.

Agostino had to make a conscious decision to change his mindset about his career and step out of the “Matrix”.

He chose to do real estate in order to achieve a more free life. His biggest mindset shift was when he went from single-family to multifamily. It took a lot of sacrifices. However, now his life is truly purpose-driven.

32:18

Agostino’s advice on how to work on your mindset:

Read a book a week, or at least read as much as you can.
Write down your goals every morning.
Create affirmations for yourself, visualize, and repeat them every day.
Spend time to understand why humans do what they do.
Consciously work on creating better habits for yourself.
The most important thing is to take action!

Mentioned in the show:

www.bulletproofcashflow.com
His LinkedIn
Bulletproof Cashflow Podcast
Seneca -The Shortness of Life
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Agostino Pintus for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Gregg Cohen, a turnkey specialist and the co-founder of JWB Real Estate Capital. In this episode, we dig deep into turnkey investing and how this concept works. If you want to know if turnkey investing is the right choice for you, what are the costs, and how you can start your own, then this episode is for you! Learn more about Gregg and his journey at reiclarity.com!

“Our clients actually own the asset. So it's not like they just invest with us.”

02:06

Gregg’s turnkey investing company is designed to make rental property investing easier. According to him, there is a big segment of the population who would like to invest in real estate, but they find it too hard, time-consuming or they live in an area where the market is not good for their goals.

Gregg’s company helps these individuals by owning and selling the house to the client with a tenant in place so they have positive cash flow from day one. His company does all the property management for that client as well.

“There is a really big difference between doing this business and doing this business well.”

09:08

Gregg’s advice on the key factors to start a successful turnkey company:

Have property management in-house, otherwise, the sales team might pitch numbers that they cannot necessarily back up on the property management side.
Sign more than 1-year leases because turnover costs are actually the biggest lever when it comes to your overall maintenance costs.
Don’t forget that the clients should buy into a model and a team with you, so you should be more like an advisor than just a property manager. This way, you can both plan ahead for years to come.

20:18

According to Gregg, there are some scenarios when turnkey investing is not the right choice. For example:

If you are somebody that likes to be very hands-on and want to have a part in a lot of the decisions.
If you don’t want to trust in a company to operate in your best interest and you’d rather manage the process by yourself.

27:12

According to Gregg, if the turnkey rental property company operates in an efficient manner, they should be able to acquire properties at a discount to market value for you. However, there are costs to consider when you are thinking about working with a turnkey rental company:

Property management fee: it consists of all the activities to be able to maintain that relationship with your residence. It’s usually around 8%-12% of the rents that are collected.
Tenant placement fees: it is generally around the first month's rent to place a resident in your home for you.
Lease renewal fees: this should be a small fee and it varies from company to company. This fee occurs every year when the tenant renews their lease.
Maintenance markups: be careful with these fees, as many property management companies markup the maintenance fees by 10%-15%.

Mentioned in the show:

https://www.jwbrealestatecapital.com/
His Phone number: (904)-677-6777
His LinkedIn
https://www.jwbwebclass.com/
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Gregg Cohen for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Brian Adams, the President and founder of Excelsior Capital, where he deals with investor relations, capital markets, and brings people together for great deals. In this episode, we talk about the 3 phases of his investor journey, how to successfully raise capital, and how the market will look like in the next 12-24months. If you want to become a GP, a sponsor, an investor, or have bigger multifamily deals, and want to know how to create your strategy, this episode is for you! Learn more about Brian and his journey at reiclarity.com!

“You can't really create wealth through salary”

04:43

Brian started his career as a prosecutor. He married into a real estate investor family and got interested in REI. He searched for a way to build long-term wealth.

According to Brian, there are 4 types of truly wealthy people:

People who were born or married into wealth
People who worked for a corporation and acquired shares of the company over a long period of time
People who started a company and then had some kind of liquidity exit
People with real assets like commodities, commercial real estate, oil, gas, etc.

Brian decided to go with the 4th route and became a real estate investor.

Within the first 5 years of business, he acquired $250M worth of real estate and raised around $75-80M of equity.

09:38

3 phases of an investor’s journey

Departure/adventure: This is the start of the journey, where everything is new and exciting. You have the ideas and expectations about your business and it feels like an adventure.
Initiation/setback: This phase comes with a lot of realization. You start to understand how everything works and see the setbacks in your processes.
Return/redemption: This is the settling phase. You put down the right strategy and now all you have to do is keep the journey going.

Brian is now in the 3rd phase of his journey but talked about all the parts in the episode.

“I have fully embraced and I take full agency over the concept that I'm a salesperson”

11:28

Brian admits that he had shiny object syndrome at the beginning of his journey and the way he raised money was not about the client, but about himself. Eventually, he learned that he had to focus on the investors’ needs in order to successfully raise capital.

In the beginning, Brian didn’t have systems in place. Even though he already had 350 investors, he had poor communication and a lack of transparency. Eventually, he took the feedback and learned from his mistakes, and created a strong and reliable team.

Now, Brian is clear on the 3 key things his investors really want: capital preservation, yield, and the benefits that come from direct real estate ownership from a tax perspective.

Brian’s advice for business owners is to set clear client expectations and boundaries and don’t be afraid to talk about your limitations.

“Ultimately, commercial real estate comes down to population growth”

34:36

At the end of the interview, Adam talks about his insights on REI in the next 12-24 months. He’s been seeing a demographic shift as the millennial generation is moving out of big cities like New York or San Fransisco for a better quality of life. This makes secondary markets along the Sun Belt more popular.

Adam sees an acceleration of this shift due to the current pandemic, so he continues to invest in those upcoming markets.

Mentioned in the show:

https://www.excelsiorgp.com/
His LinkedIn
Joseph Campbell - The Hero's Journey
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Brian Adams for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is John Casmon, a multifamily real estate entrepreneur, podcaster, and marketing expert. In this episode, we talk about how to market yourself and how to attract the right people to succeed in your real estate investing journey. If you want to know how to build the right communities and effectively talk about your deals, then you don’t want to miss out on this episode. Learn more about Neil and his journey at reiclarity.com!

“Marketing as a whole is really just in communicating the products or services that you offer.”

05:13

According to John, everybody is a marketer because marketing is simply a way of telling people about your products or services. We constantly have to market ourselves in our daily life as well.

The key to successful marketing is to start with your ideal client’s needs instead of only thinking about your deal. Marketing is how you talk to these individuals and communicate the benefits and the solutions to them.

The 4 step process to understand how to articulate yourself and market your services:

Understand the value of your product and service.
Figure out who your ideal client is.
Know what problems they are facing and what solutions they are looking for.
Understand how your product or service can solve their problem and give them their desired outcome.

After going through these 4 steps, you need to figure out how your ideal client is spending their time and what are the best mediums for reaching them. Don’t just go with channels you are most comfortable with, always keep your client’s needs in mind.

Also, keep in mind that most of the time people appreciate a story more than just dry facts and data.

“The goal here is not to exclude, it's to move people one way or the other.”

20:13

John’s advice is to get specific with your ideal client avatar, but not too much. If you try to talk to everyone, then no one can strongly relate to your message, however, if the ideal client avatar is too narrow then it can be hard to find clients.

According to John, in the past, it used to be that you’d have to see a brand or a message 7 times before it started to resonate. Nowadays it’s believed to be 14 times. So the goal in marketing is to get people familiar with the idea of your services or products.

At the end of the interview, John talked about the importance of building communities and networking. Building communities takes consistency, collaboration, and a bit of humility because you have to know that it's not about you, it’s about what everyone else is looking for.

Mentioned in the show:

https://www.casmoncapital.com/sampledeal
https://www.casmoncapital.com
His LinkedIn
Chicago Multifamily Club
James Clear - Atomic Habits
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to John Casmon for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

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Our guest today is Neil Greenbaum, a lawyer who puts together legal documents for real estate investors. In this episode, we break down the anatomy of a commercial real estate deal. If you want to know more about the 5 stages of a CRE deal and the crucial steps for a successful closing, then you don’t want to miss out on this episode! Learn more about Neil and his journey at reiclarity.com!

“It's your deal. You are the captain of the ship so you better know it.”

In this info-packed episode, we go through the 5 stages of a commercial real estate deal. These stages are the contract, the due diligence, the title period, financing, and closing.

03:46

Neil works with investors and puts together legal documents for all parts of the investor journey. According to him, the best way to avoid making mistakes at the beginning of the deal is by building a great team of service providers and always understanding the deal.

He also suggests getting familiar with the timeframe, due diligence, representations, and warranties inside the contract in order to make the best investing decisions. Always check if the numbers match and if the finances are as expected.

20:44

After talking in-depth about the contract and due diligence process, Neil shared his advice about the title period. He emphasized the importance of working with the same title company through multiple deals. Because you're not going to save money on the title because title rates are uniformed, you should try to find a title company that provides the best services.

25:47

Neil suggests that the best approach is to start financing from day one. Establish a good relationship with the lender or the broker because it makes the financing aspect much easier.

The final piece of the CRE anatomy is closing. This should be a fairly simple and quick process if you’ve done everything right in the deal leading up to this point.

According to Neil, as long as you are diligent and timely with your processes and you read and understand everything, then your deal should work out. Sometimes you may realize along the way that it's not gonna work out and you can still pull the plug.

38:12

Neil’s 3 pieces of REI advice on what steps to take to turn your side-hustle into full-time real estate investing

Know your market inside out. Learn everything you can about it, especially now in this current pandemic.
Understand finances. Know the cash flow of the property.
Pound the pavement for opportunities. Build a good relationship with your broker and service providers so you can find the best deals.

Mentioned in the show:

His LinkedIn
https://neilgreenbaumlaw.com/
Book a Call with Neil
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Neil Greenbaum for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Julie Holly, a multifamily investor, writer, speaker, and podcaster. In this episode, we talk about the pros and cons of single-family and multifamily investing and how to leverage technology to invest anywhere in the country. If you are ready to take your real estate investing strategy to the next level, then don’t miss out on this episode! Learn more about Julie and her journey at reiclarity.com!

“One of the most important characteristics that I saw growing up was the power of reinvention”

03:19

Julie comes from a real estate investor background. Her parents were both residential investors and taught her a lot about the industry. She learned how to constantly reinvent herself and always charge forward.

She started single-family investing at the beginning of her career. However, she soon realized that multifamily investing was way more scalable. That was the biggest transition she made in her career.

Currently, Julie is reinventing her strategy again as the industry is changing due to the recent pandemic and recession.

“I personally like to be able to grow really big. I have a big personality, I like to do things in a big way.”

14:29

Julie lives in a small town in Idaho where there were not many multifamily investing opportunities. She chose multifamily investing because she wants to grow her business all over the country.

The pros and cons of single-family and multifamily investing:

Single-family:
- Pros: It is easier to get into it, you own the property and don’t have to rely on partners, and they can create a great cashflow.
- Cons: It requires more work from you, it gets very hard to manage them after a certain number, and vacancies have a bigger financial impact.
Multifamily:
- Pros: It is more scalable, you don’t have to be there physically, it is like buying into an actual business.
- Cons: It is hard to find the assets and vet them because there is a lot more competition.

“Use technology as your diving board, it can launch you into something really exciting. However, you have to be willing to fly and take that risk.”

24:54

As Julie lives in a small town, she uses technology to connect and network in the industry.

Her favorite way of networking is podcasting. She's met a lot of people through her podcast: ”Ask Me How I Know”.

She is also very active on social media. During the pandemic, she started to be a part of social media challenges which helped her network with more people. She also participates in online meetups.

Julie’s advice is to get comfortable with being on video because that is the future of networking.

Julie’s 3 steps to turn your side hustle into a full-time business:

Don’t forget that anyone can do it and you are no different. Your mindset matters so believe in yourself.
Play to your strengths.
Find people in your business who complement your strengths and can hold you accountable.

Mentioned in the show:

John Acuff - Start
Daniel H. Pink - When, The Scientific Secrets to Perfect Timing
https://threekeysinvestments.com/
Ask Me How I Know Podcast
www.julieholly.com
Her LinkedIn
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Julie Holly for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

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Our guest today is Bernard Reisz, a CPA and the founder of ReSure LLC, where the focus is on simplifying finance and investments. In this episode, we talk about how to make well-informed decisions in our real estate investing strategy and the 3 types of tax shelters. If you want to know more about different retirement accounts and the ways to assess a financial advisor then don’t miss out on this episode! Learn more about Bernard and his journey at reiclarity.com!

“The biggest mistake you can really make is essentially being poorly informed”

04:00

At the beginning of the episode, Bernard explains that there are no mistakes in real estate investing, just well-informed and poorly informed decisions. As every service provider has a bias, you have to be able to read between the lines while investing.

To make the right financial and business decisions, Bernard suggests asking the following questions:

How easily can your business be converted to cash?
Is there something you are thinking of transitioning to?
How many places do you want to be active and how many passive income streams do you want?
Based on your perspective, do you think that you have better information about real estate than the market as a whole?

If someone is very serious about real estate investing and doesn’t just want to do it as a side-hustle, then Bernard suggests going full-time into real estate investing and claiming a real estate professional tax status, which will provide the best tax benefits. For this you don’t have to be licensed, you just have to fit the real estate professional tax status.

27:05

How to assess a financial advisor or CPA?

Look for people heavy on substance and low on fluff.
Even if at the beginning of your business journey, you can’t afford a higher level accountant, always choose someone who will be able to grow with you.
Work with people who are very committed to helping you.
Find someone who is specialized but has enough expertise to understand how every component in that field integrates and interacts with each other.

40:00

Bernard talked about the different types of retirement accounts in the show. They are the following:

IRA
- Traditional IRA
- Roth IRA
- SEP IRA
- Simple IRA
QRP
- 401K
- profit sharing
- defined benefit
- cash balance
- money purchase

“Don't buy tax shelters, invest in them.”

46:00

According to Bernard, you don’t want to buy tax shelters off the shelf. You need to understand the risk associated with them first. There are tax shelters that are legal, in the grey area, or fraudulent. A good starting point to determine if the tax shelter is legal or not is to ask your CPA.

Mentioned in the show:

Leonard Mlodinow - The Drunkard's Walk
https://www.401kcheckbook.com/
www.agentfinancial.com
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Bernard Reisz for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Jennifer Grimson, a coach, real estate investor, and podcaster, who created a concept called Micro Empires. In this episode, she breaks down the many ways she invests and how you can build your own micro empires too! If you are ready to diversify your income streams and set yourself free financially, then this episode is for you! Learn more about Jennifer and her journey at reiclarity.com!

“My thought was if it belongs to me, it's an empire.”

03:14

Jennifer was a single mother, who lost everything in her life twice. She found herself with no money, no job, and no place to live with her two children. After the second time, she realized that she didn’t want to be dependent on others anymore and instead of only looking for a job, she started to search for ways to diversify her income and build lasting wealth.

This is when the concept of micro empires was born. Jennifer started to build different streams of income which included her day job as a salesperson, coaching, real estate investing, and art.

“There's always something that you can do, hopefully, that you enjoy. And hopefully, that builds on what you're already doing.”

10:37

Jennifer suggests to always have at least 3 streams of income. To find these streams, look at your talents and figure out what you do so well that other people ask you for it. Then start to build businesses around these talents.

Jennifer was always good at storytelling so she built her micro-empires around business coaching, high-level executive resume writing, and Linkedin networking coaching. She also invests in multifamily real estate and until earlier this year, Airbnb. She invests in broad-based index funds and paints as well.

13:47

According to Jennifer, believing that what you’re doing is worth it is important and it often requires a mindset shift. Her advice on how to start charging for what you love to do:

Be consistent and work towards your goal in small steps every day to move the needle.
Do something every day that scares you.
Be honest about what you need and don’t be afraid to tell it to others as well.

“I'm looking at other multifamily but really anything that creates cash flow is what I'm interested in.”

23:12

Jennifer always wanted to get into real estate investing. She started out with Airbnbs using her 401k. This turned out to be so lucrative that she was able to quit her corporate job at the end of 2018. However, the market was becoming too saturated, so Jennifer decided to sell her Airbnbs just a month before COVID hit.

Jennifer has been investing in a joint venture with 67 doors and in the future, she would like to buy more multifamily.

32:25

Jennifer’s advice on finding ways to make money while keeping your day job:

Know your finances and use the tools and resources that are available
Understand your mindset, blocks, and limiting beliefs
Take action, learn and try things, and don’t be afraid to ask questions

Mentioned in the show:

Jen Sincero - You Are a Badass
Gavin de Becker - The Gift of Fear
www.micro-empires.com
https://micro-empires.com/coaching/
www.bakercollins.com
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Jennifer Grimson for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Veena Jetti, a general partner in huge multifamily deals. She had her fingers on over a billion dollars worth of assets throughout her career and has control over millions of dollars of assets currently. In this episode, we talk about what it’s like to be a general partner on big multifamily deals and what should you look for in a GP if you are a limited partner. If you're ready to scale up and want to invest in the best multifamily deals, don’t miss out on this episode! Learn more about Veena and her journey at reiclarity.com!

“Single-family is not a very scalable space, so eventually there comes a point where you have to make the leap to whatever the next level is, and that's inevitably multifamily.”

03:12

Veena is coming from a real estate investor family. Her parents were into single-family investing when she was young, so Veena started in the single-family space as well. However, she soon realized how much more scalable multifamily was. She says that it was easier for her to take bigger risks as she had her family as a safety net.

“My motto is that the ball is never in my court ever. If you asked me for a request, I turn it back to you, and then I'm waiting on you. I never want anybody to be waiting on me in the deal.”

9:22

Veena’s first multifamily deal was in Dallas. Since then, she's had control of over a billion dollars worth of assets.

Her newest deal is a 494-unit A- property called Element 41 in Marietta, Georgia. Veena has a good reputation among brokers because she is very professional and reliable, so she can find good deals easier than others.

Veena’s advice on what questions to ask when deciding if something is a profitable buy or not:

Are there a lot of value-add options to the property?
What other income possibilities can you bring in?
Can you decrease expenses in an efficient way?

31:19

According to Veena, there are 3 main categories of roles a general partner plays in a deal.

Acquisition:
- Everything that happens before you have the deal under contract. This means broker relationships, negotiating, and meeting all the terms of the PSA.
- Everything under contract until close: your due diligence, underwriting, and understanding your financials.
Capital: Your debt, equity, and financially structuring the deal.
Operational: Starts on the day of the take-over. This covers weekly asset management calls, checking the proforma conditions, tracking the strategy, and managing investor relations.

According to Veena, the biggest challenge for a limited partner in working with a GP is that sometimes there is not a lot of transparency. To make the relationship more transparent, she recommends:

Always talking to the general partner and asking a lot of questions.
Asking the GP if they personally invest money in the deal, and if so, how much.
Understanding what happens to the limited partners if the deal misses the goals for you.
Understanding the business plan and the preferred rate.
Understanding the numbers in the underwriting.

Mentioned in the show:

Ryan Inman and Taylor Inman - Financial Residency
https://vivefunds.com/
info@vivefunds.com
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Veena Jetti for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Kenneth Igwe, a private money lender, and multifamily real estate investor. In this episode, he shares his tips on how to qualify for hard money lending and how to get the best financing deals and interest rates as an investor. If you want to know the pros and cons of bank loans, hard money lending, and borrowing money from your family, then this episode is for you! Learn more about Kenneth and his journey at reiclarity.com!

“I'm a big believer that math is a language that a lot of people are just not fluent in, and do not want to become fluent in.”

03:31

Kenneth studied mathematics in college and was always passionate about numbers. He looks at it as a language that you can learn and is crucial for real estate investing.

“As our industry literally transforms, I just want people to start to have conversations about private money as opposed to hard money, as well.”

09:31

According to Kenneth, capital can come from 3 sources:

Raised money from family and friends
Raised money through an institutional route
Bank loans

Kenneth talked in detail about the pros and cons of these 3 different capital raising routes.

He doesn’t like to use the term hard money lending for his industry as it has a negative undertone in many cases. He prefers institutional private money lending.

Kenneth explained the process of finding the money for your deals through private money lending:

First, figure out what type of investor you want to be
Once you get to the lender, they want to know if you are reliable so they look at 4 things:
- The project
- You and your team’s experience
- Your credit score
- Your liquidity

“A private lender’s job is not to see if you have a good deal or not. Our job is to determine if the deal is financeable.”

23:26

Kenneth’s advise on the first steps needed to understand commercial lending better:

Read a number of commercial real estate investing books
Join a Real Estate Investment Association with a commercial division
Actively start conversations with people in your industry
Start analyzing deals even if you don’t want to buy them

When it comes to private money lending, in order for a deal to be attractive for the lender, it has to be financeable and profitable with good cashflow.

Kenneth is always looking for experience when he is working with residential or commercial projects, but if you don’t have that, an experienced team can go a long way.

Mentioned in the show:

Frank Gallinelli - What Every Real Estate Investor Needs to Know About Cash Flow
His email: kigwe@bakercollins.com
www.bakercollins.com
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Kenneth Igwe for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Today we talk about 3 previous interviews in this special Moment of Clarity episode. We break down the process of networking, cost segregation, and investing in real estate without owning property. If you are ready to go deeper into REI strategies then this episode is for you! Listen to the full interviews with Amy Mahjoory, Monick Halm, and Yonah Weiss if you haven’t already at reiclarity.com!

The 4 step process of networking

02:38

Amy Mahjoory described the FACT method she uses for networking.

F: Foundation. Get to know who you are, why you do what you do, and what you provide.
A: Action. Don’t procrastinate. Start building small relationships and this will lead to bigger relationships over time.
C: Credibility. Have a presentable idea and a clear offering for your investors.
T: Transaction. Start getting deals done.

The 6 different ways to invest in real estate without owning property

08:12

Monick Halm suggested 6 ways to invest in real estate even if you don’t want to own property.

Wholesaling: find deals and connect buyers with sellers.
Online Investment Trust: a passive way to invest in large real estate opportunities.
Tax Lien Investment: purchase a lien from the government.
Bank Note Investing: invest on the back end of banks.
Syndication: invest with a group of people in a specific real estate deal.
Private Money Lending: a one on one deal between you as the lender and an investor.

We talk about the pros and cons of these methods in the episode.

Cost Segregation

15:21

Yonah Weiss talked about the depreciation-based tax strategy called cost segregation.

The tax depreciation schedule is set up by the IRS and calculates that a house depreciates to zero dollars from the time of purchase over 27.5 years. Cost segregation is a way to accelerate the depreciation timeline, by breaking down the property to 4 categories: land, building, land improvements, and personal property.

If you want to know more about cost segregation, don’t miss out on this episode!

Mentioned in the show:

Network Your Way to Private Money, with Amy Mahjoory
3 Excuses for Not Investing… Squashed with Monick Halm
How to Build Your Network & Lower Your Taxes, with Yonah Weiss
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is the Apartment Queen, Kaylee McMahon. In this jam-packed episode, we talk about multifamily investing, syndication, and how to scale your business. If you are ready to take your business to the next level and want to know what it takes to go from side hustle to full time investing, then don’t miss out on this episode! Learn more about Kaylee and her journey at reiclarity.com!

“You need to have a concept, prove that concept, and then be able to scale.”

03:34

Kaylee was always entrepreneurial. She started a personal concierge business, where she worked with wealthy people to manage their homes and schedules. However, she wanted to create a business that runs itself, and after reading Rich Dad, Poor Dad, she decided to get into real estate investing.

According to her, the key to run a successful business is to have a concept, prove that concept, and scale from there. Scaling involves the right people, systems, and advertising.

“In multifamily investing, you're buying a business and you have to be a business leader.”

13:41

Kaylee explains how single-family and multifamily portfolios are different. Buying single-family real estate is like starting your own business, while multifamily investing is more like buying a preexisting business with its own unique problems.

While building her portfolio, Kaylee discovered that she was very good at raising capital because she is not afraid of asking questions. Now she has hundreds of units.

Kaylee is involved in syndications as well. According to her, these are the things to decide on if you want to work in syndication:

Do you want to be an active or passive partner?
Understand how to run the numbers and analyze deals. Match it against the return criteria and physical asset criteria

“Everything is changing constantly so you got to keep up.”

43:43

Kaylee sees many opportunities in the current recession. She is constantly evaluating the situation to be able to make the best decisions for her business. According to her, in order to be successful in these changing times, you need to understand the economy, the housing market, your deals, relationships, and the current pandemic as best as you can.

She believes in life-long learning and constantly evolving.

Mentioned in the show:

Joe Fairless - Best Ever Apartment Syndication Book
Paul Moore - The Perfect Investment
Robert Kiyosaki - Rich Dad, Poor Dad
Ryan Holiday - The Daily Stoic
Enodo
Her Youtube channel
https://theapartmentqueen.com/
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Kaylee McMahon for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Today’s guest is Yonah Weiss a cost segregation expert and social media connector. He shares his knowledge about building successful connections on LinkedIn, how to delay your taxes with cost segregation and why. If you want to build an engaged community around your REI business or learn how to hold on to more money with cost segregation, this episode is for you! Learn more about Yonah and his journey at reiclarity.com!

“Do whatever you can for other people and that's going to open up more doors for you along the way.”

03:34

Yonah started his career as a teacher. He loved teaching but eventually wanted something that paid better. He got into real estate about 5 years ago through a friend. After getting his license, he started working in the cost segregation industry and decided to be an educator, to help people build connections in the real estate world.

“I've seen dozens of times people do business together through the connections I've made. It's such an amazing feeling.”

10:27

Yonah loves social media for building connections. He realized early on that Linkedin is the top page that comes up on Google when searching for someone’s name, so it is a great place for personal branding. He specializes in helping real estate investors build better connections on Linkedin.

His REI advice on building an engaged community:

Put yourself out there and be active on social media, as people won’t do business with you if they don’t know you.
Create original content, but also take the time to comment on other people’s posts and regularly interact with them.
Don’t just make connections to get something out of it, be altruistic because that will create a snowball effect.

“If you have a way to not pay taxes legally, then it's better to do that.”

25:01

Cost segregation is an advanced form of depreciation that breaks down the property in different components that are depreciating differently. It’s important for the tax deduction as income tax is the biggest expense that any business or individual has. A cost segregation engineer is breaking down the property into different categories and identifying the categories that are depreciating faster so those tax deductions can be taken faster.

The 4 different categories are land, building, land improvements, and personal property.

Yonah’s 3 pieces of advice for real estate investors about cost segregation:

Always ask for a free estimate and analysis on any property from a cost segregation specialist.
If you are a real estate professional, you can take the depreciation losses which are normally only used against rental property income, and use it against any ordinary income as well.
Don’t forget that when you sell the property you will have to pay the depreciation recapture tax. This means you might get the benefits now, so you can invest more, but eventually, you might have to pay the tax.

Mentioned in the show:

Brian Murray - Crushing It in Apartments and Commercial Real Estate
Bigger Pockets Rental Property Calculator
His LinkedIn
www.yonahweiss.com
https://madisonspecs.com/
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Yonah Weiss for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Monick Halm, a real estate investor and coach with a mission to help 1 million women achieve financial freedom. She reached incredible success and shares with us the foundation, mindset, and mentality behind real estate investing. If you want to get into real estate, then this episode will show you how to start your investing journey even if you only have $1 and very little time. Learn more about Monick and her journey at reiclarity.com!

“Bring women here and show them how to do this. That was what came to me.”

03:54

Monick started her career as a lawyer. She fell into real estate investing by accident when she bought a multifamily and did a house hack with it. She started flipping houses with her husband in 2008. One day Monick was at a conference where she realized that out of the 120 guests only 8 were women. That is when she decided to dedicate herself to bringing women together and helping them be successful in real estate investing.

Monick’s big hairy audacious goal is to help 1 million women reach financial freedom.

“The easiest way is starting with what you already have.“

07:25

According to Monick, women usually have 3 main reasons why they can’t start investing. These reasons are:

Not having enough time
Not having enough money
Not wanting to be a landlord

However, Monick explains that these reasons all have underlying fears that need to be solved. She is working on breaking these fears and limiting beliefs. She shows women how they can start real estate investing with very little money or time by being resourceful and having the right mindset.

“It's a lot like buying shares in any company. This is the real estate company.”

17:28

Monick talked about syndication in this episode. Syndication is investing in specific groups of property. Although it is possible to be a passive investor in a blind fund, Monick prefers to do project-specific investing, where she knows the properties and the market.

According to her, the 3 most important things to look out for in syndication is the team, the market, and then the plan with the property. Her advice for real estate investors when they evaluate the team is to look for the 3Cs: character, commitment, and capacity.

“Investing in notes is very lucrative and a good return for yourself but also helping [families] to stay in their homes.”

35:55

For people who feel like they don’t have enough time or don’t want to be a landlord, Monick suggests private money landing. Her REI advice is to have a good lawyer, who can help you with the contract, and to have your right recorded and attached to the deed.

Other passive income strategies include tax lien investing and note investing.

Mentioned in the show:

www.reigoddesess.com
The Real Estate Investor Goddesses Podcast
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Monick Halm for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Amy Mahjoory, a real estate investor and educator. She raised over $16M from private money lenders through networking. In this episode, she shares with us how to grow a thoughtful and well-rounded network of service providers and mentors. If you are ready to learn the exact steps of successful networking, then this episode is for you! Learn more about Amy and her journey at reiclarity.com!

“You want to surround yourself with like-minded people, people on the same mission. As you do that, it's actually going to have a snowball effect on you personally, professionally.”

02:37

Amy started her journey in corporate America, working for Dell Computers for 14 years. However, she knew that she wanted to be an entrepreneur and had a great deal of interest in real estate. Although she was never looked at as a leader, she was very good at strategic networking. This skill helped her reach incredible success through real estate.

According to Amy, she learned networking in her childhood, as she came from a big family of many aunts, uncles, and siblings living together. This experience helped her navigate difficult situations and become an excellent networker.

During her real estate career, she was able to raise $16M in private money and now she coaches others on how to do the same.

“It's time to start networking. It's time to start talking to people, start getting out there, and developing relationships.”

12:09

Amy is teaching a 4 step method on how to network efficiently and successfully. Her framework is called the FACT method.

Foundation: Figure out who you are and what your goals are. Understand your “Why”. Then create a short, 20-second elevator pitch you can use in networking events.
Action: Start your marketing and be active on social media. Start developing relationships outside your friends and family circle and let the world know about your mission.
Credibility: Create your credibility pieces like your online portfolio, pricing, contracts, and put systems in place.
Transactions: Network consistently to have more and more deals come in. If you do this right, then transactions from your private money lenders will start to roll in.

“Stay focused, keep the end in mind, get out there, and connect yourself with people who are doing exactly what you're doing.”

30:21

Amy has been a real estate coach and keynote speaker since 2014. After her daughter was born in 2018, she wanted to stop traveling all over the country for speaking. She decided to focus on one topic in her coaching business, raising private money, as this is an area that many investors are struggling with.

She is launching a webinar in August 2020, where she not only talks about how she raised $16M in 4 years but about raising $388k on her very first deal in just 21 days. Check out her masterclass here.

Mentioned in the show:

10 networking question
raisingcapitalforyourbusiness.com
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Amy Mahjoory for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Dave Foster, a 1031 exchange expert and real estate investor. In this episode, we dig deep into how to take advantage of the 1031 exchange to defer your taxes, expand your investment portfolio, and make your tax dollars work for your benefit. If you want to learn about 1031 exchanges and how to use it in different REI lifecycles, then this episode is for you! Learn more about Dave and his journey at reiclarity.com!

“As you move forward, you start to learn what you know, but you also start to learn what you don't know.”

02:17

Dave always wanted financial freedom for him and his family. His goal was to buy a sailboat one day and live in it with his family. He started real estate investing in 1996 by purchasing a duplex, fixing it up and selling it. However, when he discovered how much he owed in taxes, Dave realized he needed to find a better way to invest.

He heard about the 1031 exchange that had just become usable for regular investors at that time. The 1031 exchange allows an investor to “defer” paying capital gains taxes on an investment property when it is sold, as long as another property is purchased with the profit gained by the sale of the first property.

Dave became a 1031 expert and 10 years later, he was able to buy a sailboat and live in it for 10 years.

“The 1031 exchange is always going to start with the sale of a piece of property.”

08:37

Dave is a qualified intermediary for 1031 exchanges. The IRS requires that investors who take advantage of a 1031 must also use services of an independent, unrelated third party like Dave.

Dave’s 3 crucial questions for investors to consider when contemplating using the 1031 exchange are:

What are the consequences of it?
What’s the cost-benefit of it?
Do I need it?

According to Dave, if you are planning to buy another property after selling the current one, then a 1031 could be a good option. However, it is essential to know that the depreciation taxes are accumulating, and although they indefinitely differed, they never go away. The 2 ways to never pay back the taxes are to keep buying and selling more properties or to pass away.

The type of real estate doesn’t matter, so if someone is at the end of their investing cycle, they can still get into multifamily investing or syndications that require less management.

30:55

Dave’s REI advice for investors who are thinking about their next steps in selling:

You need to hold the right property and rent it for the right amount, so the market balances out what you paid for it.
You need to have a good accountant on board to always be up to date with tax changes.

Mentioned in the show:

www.the1031investor.com
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Dave Foster for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Avery Carl, a real estate investor with over 30 short term rentals. She also has long term rentals and helps people buy and sell vacation homes as a realtor. She shares with us her financing strategies, how to work the different markets, and a little bit about property management. If you’ve been thinking about growing your short term rental portfolio or adding short term rentals to your strategy, then this episode is for you! To learn more about Avery and her journey, visit reiclarity.com!

“We had one downpayment worth of capital left to invest in something and so we thought, well, maybe we'll do an Airbnb project.”

04:56

Avery and her husband moved to Nashville from Brooklyn in 2013. She wasn’t licensed yet, but they wanted to buy a rental home. The property they purchased is still one of their highest performing rental homes. After this first success, they decided to scale up and invest in Airbnbs. They started to buy single-family cabins in the Smoky Mountains, 3 hours away from the volatile Nashville market.

“The regional, drivable vacation rental markets have fared the best for different reasons in both recessions.”

08:04

Avery mentioned 3 main markets for short term rentals:

The metro markets (New York, Austin, etc)
Vacation, fly-to rental homes (Hawaii, Disney, Colorado, Utah ski towns)
Regional, driveable vacation rental markets

When it comes to the short-term rental market, Avery sees many similarities between the current pandemic and the 2008 recession. According to her, the regional, drivable vacation rental market has fared the best in both recessions. In 2008, people didn’t have enough money to spend on elaborate vacations, but they could afford a 5-hour drive for a weekend holiday. In current COVID times, people can’t fly or travel very far, that is why they like to spend time in an easily reachable vacation home.

Avery has long-term rentals along with her vacation rentals, and she chose the same regional market. These rentals are affordable $6-700/month places.

“There's a difference between debt and leverage. There is such a thing as good debt and bad debt.”

22:04

Avery has 30 short-term rentals. She mentioned a few different ways to finance these deals. She used a 10%-down vacation home loan on some of her properties. The down-side was that it could only be used once per market, as the properties have to be at least 65 miles apart from each other. Her other strategy was to take out the cash from her properties and enroll that into her next purchase.

Avery and her husband have both maxed out their 10 conventional loans, however, she differentiates between good debt and bad debt. Her debt is more like leverage.

28:01

Avery’s 3 pieces of advice for real estate investors on how to take the short term investing leap:

Analyze the market, but not so much to get analysis paralysis.
Take the risk, because you can only learn by doing.
Even if you don’t have a lot of cash available, take out equity on your primary home or do a HELOC.

Mentioned in the show:

www.theshorttermshop.com
info@theshorttermshop.com
www.shineinsurance.com/

Learn how to grow your REI portfolio and reach incredible lasting success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Avery Carl for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Jerome Myers, a multifamily investor who reached incredible success by never giving up on his goals. He is now teaching others how to avoid pitfalls and build a team that can help you succeed even if you don’t have any experience. If you want to build the right multifamily investing strategies from the start, this episode is for you! To learn more about Jerome and his journey, visit reiclarity.com!

“I became a corporate America dropout at that point. And I started thinking, what am I going to do next?”

02:46

Jerome started his career as a civil engineer building businesses in corporate America. In 2009, he transferred to a consulting firm. As he built a strong reputation in the industry, he had the opportunity to build up a construction company to 175 people and $20M in revenue in 1 year. That is when he got interested in real estate. However, when he had to lay off half of the company’s workforce, he decided to leave the corporate world and focus on his real passion. He started to educate himself in real estate investing and hasn’t looked back ever since.

“Reputation is more important than money in this game for sure.”

09:12

Jerome always knew he wanted to get into multifamily investing. However, as he didn’t have the experience, the banks didn’t talk to him and he couldn’t get a loan to start. Fortunately, he had the opportunity to find partners for his deal and start his investing career. Jerome’s advice for real estate investors who are interested in multifamily is to always find partnerships for their deals.

According to Jerome, every investor is trying to solve 4 things:

Knowledge: the foundation that all the deal members should have.
Deal flow: the person who finds the deal is the person who has the leverage.
Experience: it’s crucial to have an experienced partner if you want to go with bank financing.
Capital: even tough owner financing can be an option, having enough capital is necessary for the deals.

The best role in the partnership is being the person who finds the deal.

“I don't want somebody to be in the same place that I was in trying to figure out how they can get in and not know the true story.”

26:14

As Jerome is not coming from a wealthy family, he knows how hard it is to get into multifamily investing. This is why he set himself up to help others understand the industry. Through his courses, he is not selling unrealistic dreams but tries to show the truth about multifamily real estate.

Jerome’s advice to business owners who would want to make the jump: always remember, that nothing is permanent, and the only way to grow is by being stressed and challenged.

Mentioned in the show:

myersmethods.com
Dreamcatchers Podcast
Myers Methods Presents Multifamily Missteps Podcast
www.shineinsurance.com/

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Jerome Myers for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Rachel Richards, a real estate investor and author with multiple streams of passive income. She has aggressively retired at the age of just 27 and she shares all about that today. If you want to understand how finance and passive income work, don’t miss out on this episode! To learn more about Rachel and her journey, visit reiclarity.com!

“The way I see it is that passive income has enabled me to work when, where, or if I want, and now that I'm financially independent, I can choose whether I want to keep working or not”

02:32

Rachel defines passive income as money that’s earned with little to no ongoing effort.

It is built up of 2 stages:

Investing the time and money to get the passive income stream created.
After launching the stream it becomes hands-off and you only have to work with it a few hours a month or a week.

According to Rachel, you’re retired once your passive income exceeds your living expenses, as you’re basically financially independent. She has 4 passive income streams at the moment: rental properties, book royalties, an online course, and a print on demand business.

“I tend to say, make sure you're monetizing your side hustle, make sure you have other income coming in before you quit your job.”

08:16

Rachel and her husband bought their first duplex in 2017 in Kentucky. They saved up for it during and after college, as they didn’t have student loans and worked several jobs. After getting into real estate investing, she worked 80 hours a week in her day job, managing properties, and writing books. Although it was a tough time, Rachel says it was all worth it at the end. They currently have 40 units.

Initially, she wanted to retire just from real estate investing. She mapped out her expenses and continuously saved at least 20% of her income.

“There's only so much you can do to cut your costs. So I always tell people, if you want to increase your savings, there are exactly two ways to do that.”

29:46

If you want to increase your savings, Rachel recommends decreasing your expenses as well as increasing your income.

Rachel’s REI advice for financial literacy:

Twice a year look at your revenue and your expenses from your rental properties and see if they align.
Brainstorm 10 ways to increase your revenue and 10 ways to decrease your expenses. These can be small ideas like installing a coin-operated laundry machine in common areas or switching internet providers.

Rachel shared with us her popular “Savings Bucket Concept”, which divides savings goals in terms of different timelines.

The 4 savings buckets are:

Emergency savings: always have at least $1k here.
Medium-term savings: have 3-6 months of living expenses and anything you’re saving up for in the next 12 months in this bucket.
Long-term savings: this bucket contains any big-ticket items that are in the long-term, like down-payment for a house or a fund for a wedding. This is the bucket you want to invest in the stock market.
Retirement savings: invest this bucket completely in the stock market.

Mentioned in the show:

Money Honey
Passive Income Aggressive Retirement
Steve Chader, Jim McKissack - HOLD
M. J. DeMarco - The Millionaire Fastlane
Afford Anything Podcast by Paula Pant
Mint App
www.shineinsurance.com/

Learn how to grow your REI portfolio and reach incredible lasting success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Rachel Richards for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Hold: How to Find, Buy, and Rent Houses for Wealth (Millionaire Real Estate)

The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime

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Our guest today is Ali Hashemi, a real estate investor from Indiana. He shares what led up to his first multifamily buy and his strategy along the way. If you are ready to take the leap into real estate and need some help to refine your search and build your strategy, then this episode is for you! To learn more about Ali and his journey, visit reiclarity.com!

“You learn a little bit of the landlording experience just by owning and running your own house.”

03:10

Ali first got into real estate investing when he moved to Indianapolis and bought a property for himself. He had to learn how to manage the house by himself, and when he sold it a few years later, he decided to invest in more properties from the cash. He started to share his interest in real estate with people around him and found a lot of help this way. He talks about how he refined his searches and created a strategy for himself in the beginning.

“Ask yourself, how and when do you want to make money”

11:08

When Ali moved to Martinsville, he decided to focus on multifamily investing. He knew his price range and that he wanted the properties to be within a driveable radius.

Ali’s REI advice if you are a new real estate investor is to ask yourself how and when do you want to make money.

If you want an immediate return, flips are a good way to do that, however, you’re not building equity this way.
You can buy and hold to build reliable cash flow and build equity.
Or you can go with the BRRRR method when you buy a property, refinance it, pull the money out of it, and buy another one.

Ali chose the buy and hold method as he wants to build equity and long term wealth.

“If you're going the bank route, which is the route I went in, I found that small regional banks are primarily the ones you want to start with.”

24:30

According to Ali, a commercial loan is much looser and freer in structure than a federally backed single-family loan. This is another reason why he went with multifamily investing. He found that small regional banks are the best for lending because they're interested in lending in their immediate area and they know the market. His advice for business owners is to get to know your lender and create valuable relationships with them.

Ali bought his first multifamily in 2017 and currently has 15 units. He would like to scale up to 100 units in the near future.

Ali’s 3 pieces of advice for real estate investors to find REI clarity:

Share your interest in real estate with others, because this way you can build valuable relationships and learn.
Refine your search.
Decide which lending direction you want to go and get to know your lender.

Mentioned in the show:

His email
His Facebook
Chris McChesney, Jim Huling, and Sean Covey: The 4 Disciplines of Execution
www.shineinsurance.com/

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Ali Hashemi for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Jimmy Lam who is a superstar investor. From single-family and multifamily investing to ownership in hotels, offices, industrial and retail spaces, he has done it all. In this episode, he shares his success journey and the strategies that helped him on the way. If you want to know how to properly work the margins, add real value to your properties, and increase your income, then this is the episode for you! To learn more about Jimmy and his journey, visit reiclarity.com!

“At that point, I couldn’t just continue to buy the small single-family properties. That's when I got into apartments and hotels and stuff like that and started really expanding.”

03:36

Jimmy Lam started his real estate career in 2011. In the beginning, he took advantage of private funding and bridge financing. As he got more successful, banks started to offer him better loans, so he started doing hard money loans for people flipping houses. Eventually, he took the leap from single-family to multifamily investing as it was easier to scale up.

Jimmy created a strategy for his business from the start and grew his portfolio to 40 single-family properties. He shares some of those strategies with us.

“Whenever you look at these deals, you're always trying to find areas that you can increase income.”

10:20

Jimmy had experience in multifamily investing and raising money from his corporate job. He found his first deal through a university where he spoke regularly. On this property, he was able to increase the investment return by about 100%. He did that by working the margins, adding value to the property, and through that, raising the rent.

Jimmy’s 2 pieces of advice for business owners on how to make spaces more valuable for tenants:

Always keep your tenant’s needs in mind and don’t forget that people want service quickly.
Systematize how you do things, create clear processes for your business.

“It's a matter of trying to understand the reason why you want to jump into commercial investing.”

23:02

Jimmy invests in Texas, where everything above 4-units is considered commercial investing and falls into a different loan category. For people who just want to acquire 5-6 units, he advises to only invest in single-families for better loans.

Jimmy’s advice for people who want to jump into commercial investing:

Get a deep understanding and knowledge of how commercial investing works.
Prepare to have very high additional fees and higher risks compared to single-families.

Jimmy is also involved in hotels and franchises like Hyatt, Hilton, and Marriott. For people who want to get into the industry, he suggests to partner up with someone more experienced because a resume should be attached to the loan.

Jimmy’s 3 pieces of advice for real estate investors to find REI clarity:

Take a step back, put yourself in the customer’s shoes, and consider if they would be satisfied with the service you’re providing.
Find a mentor who can help you on your journey.
Think about your strategy and make sure that it helps you in the long-term.

Mentioned in the show:

His phone number: 832-303-1884
His email: jimmy.lam@kirkwoodhaven.com
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Jimmy Lam for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Jay Redding, a successful real estate investor from Indiana. He shares with us how to create a business plan, how to be strategic over opportunistic in your investing, and why it’s important to stick to one strategy. If you’d like to know how to build your investment strategy and turn your side hustle into a scalable REI business then this episode is for you! To learn more about Jay and his journey, visit reiclarity.com!

“Pick a primary strategy to focus on and get proficient”

11:17

Jay did his first deal in 2004 and became a full-time real estate investor in 2007. Now he has 45 rental properties and buys and sells tax liens. He is also involved in some commercial deals and wholesaling. Jay never used bank financing on his deals as he raised private money from the start.

He developed his primary investing strategy right from the beginning, by thinking 5-10 years ahead. He shares with us how he built his business plan, why it’s important not to get distracted with the countless investing options, and sticking to your plan.

“You are essentially working on your business so that you do not have to be working in your business.“

11:36

According to Jay, you cannot be truly successful if you don’t niche down and develop a solid business strategy. His advice for business owners is to put their systems and processes in place from the very beginning. Write down the processes step-by-step and tweak them over time.

This is a good way to be able to delegate responsibilities, which is often a hard task for entrepreneurs. Jay suggests investing in a good team because that is the best way to scale a business fast. The goal is to always work on your business and not in your business.

“I could care less about what that property looks like. Will it make me money? That's what I'm concerned.”

28:36

Jay recommends planning ahead 5-10 years down the line, and set specific benchmarks and milestones for the business. This can only be reached by being strategic in investing rather than opportunistic. He chooses his deals very carefully and doesn’t get involved with anything that doesn’t fit in his business plan long-term.

Jay shares with us his specific niche, how he differentiates between a good and a bad deal, and why seller financing might be the best thing to get into in the near future.

Jay Redding’s 3 pieces of advice for real estate investors to find REI clarity:

Develop a strategy and don’t get distracted by all the other options.
Set up benchmarks and milestones in your business and invest in a good team.
Be strategic versus opportunistic. Understand the data and stay away from purely emotional buys.

Mentioned in the show:

www.jmjrealestateservices.com
His email: jay@jmjrealestateservices.com

Learn how to grow your portfolio and reach incredible success with real estate! Visit us for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Jay Redding for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Our guest today is Whitney Nicely, a real estate investor and business coach from east Tennessee. Her mission is to help as many women as possible achieve financial freedom through real estate investing. In this episode, she shares her best advice on how to find lease options sellers and how to navigate those sellers once you’ve found them. To learn more about Whitney and her journey, visit reiclarity.com!

“The first day I went to work in the real world I had four full-time jobs.”

03:39

Whitney is a 4th generation entrepreneur. She started her career in her family’s dump truck companies and navigated 4 different family businesses. Now she has 3 real estate investing companies and a dump truck company of her own. Whitney sees real estate investing as a great way to establish stable, passive income. It might help you leave the family company, your corporate nine to five, or even a bad relationship. She shares the way you can get into real estate investing.

“There's books and magazines and websites dedicated to how to put your lipstick on, but there's not a lot dedicated to how to build a real estate portfolio.”

13:05

Whitney has a coaching business, Shebuysit.com, where she helps women get into real estate investing and teaches them how to make passive income from real estate. She believes that women are the best real estate investors, as they are natural negotiators and nesters. Also, a lot of women inherit properties through death and divorce, and often they will trust another woman more to sell their property. Whitney wants to be a mentor for these ambitious women so they can build successful portfolios.

“Lease options really allowed me to go from little dinky deals and being a hobby investor, to learning how I can control deals without ownership.”

23:37

Whitney is very focused on lease options as an investor. According to her, it’s a fancy rental agreement with the option to buy the property later at a price we agree upon today. She helps property owners who have bought a house but moved to a bigger one and the old property has become a burden to them. She relieves their pressure by taking over their payments.

Whitney’s advice for entrepreneurs is to not be afraid to niche down and say ”no” to bad deals. She explains how she targets her ideal property owners and why niching down is important.

Whitney’s 3 pieces of advice for real estate investors to find REI clarity:

Take a long hot shower where nobody disturbs you.
Or go for a long walk by yourself and think about what you really want.
Be honest with yourself because this is how breakthroughs happen.

Mentioned in the show:

www.shebuysit.com/group
Robert Kiyosaki’s Cashflow game
Mike Michalowicz - The Pumpkin Plan
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.

Special thanks to Whitney Nicely for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field

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Our guest today is Jennings Smith, who is an investment property owner, builder, general contractor, and property manager. He has grown his portfolio exponentially in a very short period of time. In this episode, he shares how he went from a couple of single-family homes to 600 units worth $40M in less than 2 years! If you’re looking to transition into multifamily and need some seasoned tips and tricks then this is the episode for you! To learn more about Jennings and his journey, visit reiclarity.com!

“The perfect turnaround on a property is trying to sell it to your tenant.”

02:48 Jennings followed his dad’s footsteps into real estate investing. He saw how his dad evolved from being a real estate agent to building long-term wealth. Jennings helped his father out in the beginning and then started to acquire his own single-family properties. He shares how he built up his business and why selling to your tenant is the best turnaround on a property.

“If you want to have hundreds of units, then why are you setting up systems and processes that are going to break and not work?”

08:15 In a few years, Jennings was running a full-time construction company, had a family, and grew his portfolio to 5-6 properties. He had trouble managing his properties because he didn’t have enough time.

He decided to hire a property manager which helped his business tremendously. His advice for real estate investors is to always hire a property manager even if you have a smaller portfolio. If you would like to scale up to hundreds or thousands of units, you have to put down the right strategies.

However, property managers generally have a bad reputation. Jennings shares with us how to find a good one and what systems to put in place to truly leverage the relationship.

“I made the leap into multifamily eventually, or as quickly as I could because it's just a lot easier to scale.”

16:36 Jennings took the leap into multifamily investing, as it is easier to scale and it is more like a business.

It took him 4-5 years to get 7 single-family properties, but only 2 short years to scale up to 593 units. His advice for business owners is to always invest in their education. He believes that he reached success quickly because he did numerous courses and attended REI masterminds.

According to him, multifamily investing can exponentially supercharge your scaling goals compared to single-family. At the beginning of his career, Jennings set a goal for himself. He wanted to reach a 1000 units under contract by the time he was 50. He is still in his 30s and is about to reach his goal in 2020.

26:20 Jennings’ top 3 pieces of REI advice he learned from multifamily investing:

Know your underwriting, do your research, and understand the risk you’re taking by picking up the property!
Overcapitalizing is crucial! Figure out what you need for your downpayment and your closing costs, and always have a little bit in the tank!
Think about your exit strategy from the beginning!

Mentioned in the show:

https://www.facebook.com/rentliveoak
The download Https://bit.ly/2X8ov1y
Jennings’ email: jennings@liveoak.com
www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity

Special thanks to Jennings Smith for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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If you've ever felt like real estate investing is just for people with piles of cash, this episode will change your mind. Our guest Dee Stevens explains how he used his smarts, hustle, and some creative financing strategies to go full time in real estate and build wealth with rich funders to help. In this case, it did take a nuclear scientist to grow a portfolio.

We’re glad you joined us!

SECTION 1: Dee’s story

Dee was working as a nuclear scientist. He built a relationship with one of the deliver drivers who shared the ideas of Carlton Sheets and the No Money Down method. After studying for a while he connected with a realtor who helped him find his first investment deal. She wasn’t sure he was making a good decision but he did it anyway. That started his real estate investing journey.

SECTION 2: The Value of A Coach

Having a coach speeds up the learning curve and gives you high level skills more quickly. The best way to find them is to be engaged in Facebook groups and the social media community. Watch the people who are in there advising. When you find people who match your strategy, reach out and see if they’ll help you. Sometimes that’s a no fee connection. Other times you’ll set up a business coach relationship. It’s all about finding the right person.

SECTION 3: Creative Financing

There are a ton of ways to do creative financing. Here are a few of Dee’s favorites:

1. Seller Financing
1. Lease Option
1. Subject for Existing
1. Contract for Deed

SECTION 4: 3 Steps to Clarity

1. Get Your Mind Right & Systems Down
1. What is Your Exit Strategy
1. Build Up Your team

Mentioned in the show:

1. Carlton Sheets – No Money Down
1. Traction
1. Four Disciplines of Execution
1. Never Split the Difference

Special thanks to Dee Stevens for taking the time to share so many great insights with us

If you enjoyed this podcast, there’s a couple of things we need you to do right now:

• SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts
• While your there, please RATE & REVIEW the show
• SHARE with friends
• Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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Never Split the Difference: Negotiating As If Your Life Depended On It

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In this action episode Jeremy digs in the previous two interviews and provides 3 action steps you can take today to transform your real estate investing journey into a real business.

Here's what you'll hear:

Action Step #1: Be Empowered!

Both Marc Kelwaski and Chris Berg built from 0 to 150 properties in about 5 years. They did this with very little of their own capital. If they can do it, you can too!

Action Step #2: Analyze LOTS of deals

Smart buys are based on knowledge. Pick a proforma or purchase calculator that best fits you.

HERE IS THE ONE MARC MENTIONS

Start by analyzing your existing properties. Plug the numbers and see where you are. Then, get in the habit of running deals all of the time. The more you run the better you'll get at it.

Action Step #3: Focus on Your Strategy

Answer these questions:

What is my strategy?
What does the perfect property look like?
Where is that property located?
What does that seller look like?
How are you going to find them?

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In today’s episode we focus on Connections. Our guest Chris Berg shares how he BRRRRed his way into real estate investing and grew to 150 doors in 5 years. Spoiler Alert, it was all about relationships! Chris tells his story and explains what you can do to find the same success.

We’re glad you joined us!

Chris’s Three Steps to REI Greatness:

Provide Value
Get Educated
Keep An Open Mind

SECTION 1: Chris tells his story

Chris was a teacher and his wife was a college professor. They we’re making a lot of money and Chris was looking for a side hustle. A friend had a bunch of properties and encouraged him to start investing. So he studied. He listened to every Bigger Pockets episode, watched Loopnet, Trulia, Zillow, etc. He found a triplex close to his house and pulled the trigger. From there he realized this stuff was fun and he was good at it. He started pulling together more and more deals. Now he owns and manages about 150 doors.

SECTION 2: The Value of Relationships

There are a couple of parts to this:

Find mentors, folks who are further along the path than you are. Find a way to provide value to them by finding deals, providing a service, etc.
Don’t be afraid to thoughtfully inject what you do into conversations. Don’t be salesy. Don’t walk into the room and yell it, but inject your stories wherever you can . Let people know that you buy houses.
Tap your service providers for leads. Show them you’re good at what you do and ask them to share opportunities. Contractors, property managers, insurance agents, they all know who’s buying and selling.

SECTION 3: A Diverse Portfolio

Chris has three main types of properties. Each serves a specific purpose in his overall strategy

Buy & Hold – stable and safe
Short term rentals – profitable if a little volatile
Flips – Quick cash flow

Being able to diversify makes the portfolio strong. His real estate investments pplay very much like the stock market. He can leverage the part that’s don’t the best to support another that may be struggling. The Covid scenario with his short term rentals is a great example. That would have been a major problem if his entire portfolio was in short term. But it’s not so he was able to weather the storm.

How to find Chris:

Kirkwoodbtown.com

Mentioned in the show:

Loopnet
Zillow
Trulia

Special thanks to Chris Berg for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now: * SUBSCRIBE to REI Clarity onApple Podcast, Spotify, or wherever you listen to podcasts * While your there, please RATE & REVIEW the show * SHARE with friends * Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

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You're listening to the REI Clarity podcast. The show that guides you from confusion to clarity and sets you on the path to financial freedom faster. Learn how to grow your portfolio the right way with your host REI superhero, and co-founder of Shine Insurance, Jeremy Goodrich.

Jeremy Goodrich: Hey, this is Jeremy Goodrich, owner of Shine Insurance, and your host for the REI Clarity podcast. So excited to have you with us today. Our guest is an investor. He's a realtor. He handles properties in a lot of different ways, and he's going to talk about that experience on many different sides of the coin with us during our 30 minute conversation today. Chris Berg, thank you so much for being with us.

Chris Berg: Yeah, thanks for having me. I'm excited.

Jeremy Goodrich: Tell us a little bit about how you got started in real estate investing?

Chris Berg: Yeah, so just to start from the beginning, I was a teacher for 14 years, and then I continued being a teacher even after we started investing. I think, we're only in this for five or six years now, but we took a road trip, my wife and kids, and I took a road trip to Colorado and we went camping for a month. And on the way back, I was like, I want more of this.

And then on the long drive, back from Colorado through the Plain State [inaudible 00:02:57] looked at my Indiana teacher retirement fund, and it wasn't pretty. I'm like damn, how do I get more money? She's a college professor, but she's into school nurses though. She took a big pay hit, going into education as well. I'm like yeah, we have a good life, but what's the next level.

I just reached out to my best friend. I'm like, Hey man, what's the best way to get wealthy. And he said, you're really good at real estate, because I'd been doing it for years. I'd fix up my own houses. I help people fix things. I read a lot about it. He's like, why don't you just buy a property and see, because he owned hundreds at the time. I said, all right.

We started doing what everybody else does, going to LoopNet or Zillow, Trulia and literally by the time we got back to West Lafayette, which is where we lived at the time, my wife [inaudible 00:03:44] found something on MLS, which, people say it's dead and you can't find any deals there, but we took the equity from our home because we'd fix it up and got it appraised, and literally bought a triplex, a student rental triplex on the campus of Purdue.

Jeremy Goodrich: So your first purchase was a triplex and it was a student rental triplex?

Chris Berg: Yeah, it wasn't pretty-

Jeremy Goodrich: [inaudible 00:04:05] it got you in.

Chris Berg: But it surprised us because it was three doors down from us, so easy for me to manage. I dip my toe in the water with the property management side of things and just learn. The day we got it appraised, which wasn't soon after we bought it, it appraised for 50 grand of what we bought it for. So it wasn't, but two months later we were able to use the equity from that and roll it into a fourplex. So within a matter of months we were owners of seven units.

Jeremy Goodrich: And have you continued to do that? Kind of take the equity out of one, use that as the down payment for the next, kind of almost a bare type of approach and take it from there.

Chris Berg: Yeah. So what we did is, we moved to Colorado. It's been a little over a year and a half ago. When we left town of West Lafayette, we sold those for a decent little profit. We did our first 1031 exchange into an 11 unit apartment complex. So we upgraded and the number of units that took care of that. We've obviously we've increased the value, it's appreciated. So we did really well on that.

Recently we went under contract and selling that as well, we're in our 90 day period for the 1031 exchange currently.

Jeremy Goodrich: So that was kind of your start, it sounds like over five years, you've grown. Can you tell our audience a little bit about where you're at as an investor right now?

Chris Berg: Yeah, currently I have partners. I am a broker. I own my own brokerage here in Bloomington. It's called Kirkwood Realty and it's brokered by a larger company, a parent company called eXp. I do the traditional buy and sell for everybody and also for myself. We have a great business model for house flipping because that's the passion projects, helps us be creative. With my partners, I manage 112 units, doors and then my wife and I owned 69. I manage the managers. I'm like the acquisitions plus the overall portfolio manager of all of them. I deal with the day to day operations of those and then I'm the boots on the ground guy, for the flipping business as well. I deal with the contractors. I do the acquisitions, all that stuff. I do a little bit of everything.

Jeremy Goodrich: It's fascinating to me. The folks that I meet in this industry that seem the most fascinating are, doing kind of what you're doing, where not only are you investing in a couple of different ways, it sounds like you're doing a lot of buy and hold and you've built your portfolio up, but then also flipping for the creativity and probably for the cashflow sometimes I would imagine.

Chris Berg: Yeah.

Jeremy Goodrich: But then you're playing a central role for other people. You sort of the brains and I'm might be putting words into your mouth. So tell me, but you're kind of the brains behind the operation. Where other people say, hey, I've got some money or, hey, I've got some element of it. And you're like, hey, well I love this. I'm good at pro formas, I'm good at connecting with other people. I'm already a realtor and so I can find things maybe before other people. You sort of play a central role for partners, could you describe a little bit how you started doing that and maybe for a listener who wants to play that role? What works?

Chris Berg: Yeah. So every podcast you listened or book, when you start in the business of real estate you want to provide value to someone. And so I started doing that to my business partners, providing value. But you and I before the podcast, we're talking about me being, I have a high motor, so I just don't stop. If I were to just do, be a real estate agent, that's a tough job alone. But my creativity, my passion wouldn't be fulfilled. Doing the management side and the acquisition side, all of that helps and I like helping other people do that as well because not everybody sees the full picture. Since I have my fingers in a lot of different pots, I feel I have this broad knowledge to help people who want to be investors, people who just want to get rid of their homes, people who want to renovate homes and just want me to bounce ideas off of, I'm happy to do that.

I'm a no fee type of guy when it comes out stuff, because number one, I love it. Ever since I left education, I feel like I'm missing that piece of giving back more. So a lot of my services are free when it comes to asking me, what should I do?

I'm happy to hold a hand every now and again, eventually, my [inaudible 00:08:25] is going to be taken up, but I like to guide people. It's part of the giving back projects that we do, is just helping people better because I've seen what real estate has helped me with. So I want to help other people do the same.

Hopefully people look at me as a resource, if they want to get rid of a home and or they want my help flipping it, or they just want to sell it. Hopefully they call me or knock on the door and say, hey can you help me with this? Because I'm happy to do it.

I'm definitely not the brains behind the project. My partners are very savvy. I feel like have a niche of finding properties and I feel like I have a niche of evaluation of properties, but all the credit doesn't go to me. My partners, they started before I did and it's the reason I look at them for mentorship as well.

Jeremy Goodrich: I heard a couple of things there. One, you and I have that in common that we're both former educators. I think that being a former teacher gives you the capacity to, one, like kind of empathy, right? Clearly we've both chosen to have jobs that we knew were not going to make us a bunch of money. There's some like element around that, that I think the service piece is really valuable and important.

The other one that I've found is that the capacity to explain things, I say to folks a lot, I explained how to do division to fourth graders for 13 years. I can explain how to navigate, REI insurance. I think there's something about former teachers who can explain and describe things in a way that isn't talk downey. That isn't like, let me show you how much information or knowledge I have. It's just kind of like, okay, here's my best of my ability, here's what I see and here's what I understand. So part of the value, it sounds like you bring to these scenarios is simply being an educator and the other is you found your value in being a resource on the element of finding properties.

Chris Berg: Yeah.

Jeremy Goodrich: So, if a listener is like, well, I know I have this value, maybe I don't have the money, but I have the ability to, I'm a realtor and I know that I can connect with properties and be able to connect them with other people. Let's see if I can find someone with the money or just the ability to like reach out to people and talk with them about the stuff they're doing and what they're working on, ends up being an opportunity for you. Not that, that's what the intention behind it, you're just trying to help people but then it becomes opportunities as well.

Chris Berg: You know, we've only been back in Bloomington and I've been in Indiana my whole life except for the one year in Colorado. But since we've been back, most of the deals we have with flips come from relationships and just mentioning, hey, I'm looking for another home. A lot of times they don't come for two or three months, but people, they come to me with deals and say, hey, my mom, she wants to get rid of her house. She doesn't know what to do with it. She doesn't want to list it on the market. It's in really bad shape. Do you know anyone? And I said, yeah me, this guy.

Jeremy Goodrich: Exactly. So let's talk about those relationships. How can a listener really, if they're wanting to create relationships, what are some of the ways you found that do that the best?

Chris Berg: Yeah, the most organic way is, and I had a hard time doing this because I was never, I'm an entrepreneur, but never felt like I was a business person. When I engage in conversation, which I don't have a problem with, it was easy to tell people it was in education, I was a teacher, but when it come to telling them I'm a real estate agent or an investor to me at the beginning of this career path, it felt a little sleazy to me. I don't know why, but it just did. But-

Jeremy Goodrich: So with you, I'm so with you.

Chris Berg: Pumping it into a conversation, It doesn't mean I'm trying to get the business. Now I'm just saying I invest and that's what I do. I'm super passionate about it. I love it. There's so many aspects of real estate that I love. So now getting myself and my wife to talk to people about it is becoming easier, but just, organically thrown it into a conversation is the best piece because there's always somebody listening who either owns a home or know somebody who wants to sell a home or get rid of a home.

I can talk real estate all day, so it becomes this natural conversation and I think they see my passion with it. Even if I don't buy the house, I will truly help them. I'll show them the best realtor for that type of home or the best way to go about it. I've talked to several people that wanted to flip or just get rid of the home. I've talked into refinancing because they just don't know the strategies of refinancing and using their equity for their benefit, so I've talked to them. So I feel, I've even lost deals from helping people get better in that way.

Jeremy Goodrich: I've talked to, in fact, an apartment association, I was talking with them about risk. They asked me as an insurance agent to come talk to them about risk. I was like man, insurance presentations are always the most boring. How can I make this not boring?

So I really talked about this balance between, look, everything we're doing is a balance between two things. One, on one side it's making money. If we're not making money on some premise, then we're not a business and we're certainly not going to be able to keep doing this for very long. On the other side, it's helping people, if we're not helping people, then we're just like some other terrible person out there, a slumlord and not doing what they're supposed to be doing.

If we're looking at our business and our investment properties as a balance between making money and helping people, we're naturally going to what you were saying, where we're naturally going to find great opportunities, because we're just trying to help people. In the case of the conversation I was having, we're naturally going to make good risk decisions. We want to make sure people get down the staircase properly and don't fall down. We want to make sure there's a smoke alarm in each apartment, so that if there's a fire, they don't die. These are just basic things we do if our intention is to help people at the same time.

Chris Berg: You know, you and I haven't talked about this, but you've used the word risk [inaudible 00:14:13] and that's one of the reasons I never jumped into real estate earlier is because people see it as a very risky thing to do, rather than have that steady paycheck. The more and more people I talk to, because I really want to get more people into investing. I find out that there's just a large population of people who are so risk adverse that they're afraid to take action. But I will tell you, when my wife got on board with investing, which she wasn't always, as soon as she was on board, we took that one step, that leap of faith. We saw how it actually works. The tax advantages on the buy and holds, the flipping side of things, the flexibility in our day to day life that provides. Once we saw it work, our belief started going up and up.

That's one thing I'm trying to portray to other people who have not gotten into investing yet. Who have the knowledge, but just don't want them to take the first step. I'm trying to find a different way to explain to them that the juice is worth the squeeze.

Jeremy Goodrich: Yeah. It's like pouring out of a cup of risk or I'm using that again. But yeah, you have to take those first steps and then you see the value of it. So as far as those relationships, one is just talking about it all the time, like making sure that you're not forcing real estate into conversations, but truly just chatting with folks about what you do. Why you do it and why you love it is valuable.

Chris Berg: Yeah.

Jeremy Goodrich: Are there other ways that listeners can build relationships that you've seen work?

Chris Berg: Yeah. A couple things that I do is the contractors that I work with, the boots on the ground guys. I work side by side with them sometimes on the first flips that we do, to show that not only that am I knowledgeable, but I have a strong work ethic and that once they see that and we get more of a personal relationship, they're more, I've gotten several deals just for my contractors because they see that, I'm in it for the right reasons. I think that's an approach a lot of people don't take, because they get into this and they don't want to get their hands dirty, but I enjoy doing that. I don't like to sit behind a computer all day. I like getting out there and doing that, the real estate agents in town, getting out there and doing the dirty stuff with them as well.

We don't always love doing open houses, but I'll stop in and do the broker's opens with them and have conversations. That's different ways to create relationships with those guys as well because being an agent isn't as easy as what people think it is, it's a job that requires grinding.

Jeremy Goodrich: Yeah. So it's like connecting with your service providers in some ways.

Chris Berg: Yeah.

Jeremy Goodrich: I think that we all know our network of folks and contractors is certainly in there. If they know what you do, why you do it and how you do it, then they're going to be likely to share the deal with you and that makes a ton of sense.

I want to talk a little bit about another topic, digging into the idea of diversifying your portfolio. You have a pretty diverse portfolio, as far as I can tell. It's multiple different places. It's multiple different types of investments. Is there a reason you've chosen to be as diverse as you are?

Chris Berg: Well, because the market number one is volatile and you never know where it goes, but we enjoy all of our asset classes. As you know, Shine Insurance has the bulk of our portfolio, but we have short-term rentals. We have Lake homes. I believe we have four now, but because we just sold one. We do the Airbnb and BRBO, our cabins are in Kentucky and Tennessee. Then we have the apartment complexes as well and then obviously the flips.

We do it, number one because it's learning, so it's the education piece and we see the advantages of all them. We do the flips for the instant cash. We do the Vrbo and Airbnbs, those happen to be our best returns, but they're not in guaranteed especially COVID, and everything that it's brought to our doorstep, but the buy and holds the tax advantages, especially when you get into any of the tax advantages that we do, cost segregation and different things like that. Then as of this week, we're diving into mobile home parks.

Jeremy Goodrich: Oh cool. Yeah, there's a lot of people who've been very profitable in that type of investment. I think when done, right. It's a pretty solid way to invest.

Chris Berg: It is. There's a few tax changes that recently came out that helped us decide to move towards that, so we're pretty excited about that acquisition. But, there'll be a huge learning curve for us as well, but we're pretty excited about it. But each bucket helps each other, so sometimes when our short-term rentals aren't doing as well, our long-term rentals help feed that. We've been able to keep each asset class afloat, taking the cashflow of each and helping each other with renovations, CapEx or whatever happens to be.

Jeremy Goodrich: That's really cool. So what I heard was, flips are cashflow, Airbnb tends to be a profitable space, buy and hold helps with taxes and also is probably the most stable of them all. And then the new mobile homes probably fairly profitable. Sounds like you're kind of learning about that space as you go. Let's talk about COVID for a second. You've described how diversifying has helped you. Certainly someone who is all Airbnb right now is probably hurting more than your portfolio is. How have you seen it affect your portfolio?

Chris Berg: Man, it's crazy because I manage all of our Airbnbs, the first two weeks it was a massive canceled reservations across the board. But then the later this is last [inaudible 00:19:45] I mean, sounds like a play on words or a pun, but [inaudible 00:19:48] people are having cabin fever, so now more and more people are booking. So lots of cancellations beginning and then booking.

Airbnb admitted fault a couple of weeks ago. They allowed 100% cancellation refunds to anybody, which put the owners in a bind. Because we're business owners and now they're helping us out with a 25% refund of those.

Jeremy Goodrich: Oh, that's cool. Yeah.

Chris Berg: Yeah, they're doing okay in that regard, but our Lake homes there's specific type of short-term rental, they're all waterfront or water access. It's definitely a vacation type of spot. It's not in the middle of the city, that they're isolated. So we haven't felt the hit as much as other people have. But I will tell you this outside of COVID, well, I guess that helps with COVID, so when COVID hit my family and I were going to one cabin, it happened right at spring break. So we took our kids down to cabin just to check up on it, see if it needs a paint job. We do some yard work, but then we found that they were shutting everything down. So we extended our vacation and we bounced around to all of them. We stayed at like a week or two at a time and we were able to turn it into a smaller vacation. I felt like we were cheating the system.

Jeremy Goodrich: That's really cool though.

Chris Berg: It's the one asset class, we can truly enjoy personally. We can book it out for a week or two in the summer and we can go and enjoy those. If any of the listeners are able to do that or look into it, I'm happy to help them out or they questions about, happy to help them out with that as well. But it's that one asset class you can truly enjoy with the family, which we enjoy.

Jeremy Goodrich: It seems like and what you're saying is that it may be not as volatile as I was thinking it was, but it seems like Airbnb is a pretty big risk at this point, but you're saying, you're seeing some return of bookings.

Chris Berg: Yeah. We've seen a return on books. I will tell you this though, this is just my thought. Airbnb is taking the side of the consumer rather than the business owners at this point. I think they're backpedaling a little bit.

Jeremy Goodrich: Yeah.

Chris Berg: So we'll see, we happen to be more keen on Vrbo than Airbnb, we like their platform a little bit more. We feel like their policies are a little bit more strict and which help us out, but you have to be on both platforms to be competitive in the market.

Jeremy Goodrich: That makes sense. All right, so the two topics we dug deep into are relationships, how to build great relationships and then diversifying your portfolio. Great example of why to do that is right now with this COVID scenario, you've been able to, because you have a diverse portfolio sort of makeup losses in one area with the stability of other areas. I'd love to move into for those listeners who really want to take the leap from three to 10 doors up to finding financial freedom faster with a larger portfolio, getting to that place where you're at Chris, what are three steps that they could take to get there?

Chris Berg: Well, the first one be providing value. Well, I have a bunch of steps, Jeremy, I don't know where I'm going with this, but I will tell you this.

Jeremy Goodrich: It's fine you can give me whatever you want.

Chris Berg: I kept an open mind when I went into investing and the number one thing I heard was provide value. So what I didn't talk about is my wife and I are partial owners of a 42 unit in Louisville, Kentucky. We got in on that with zero money and then we also purchased a 16 unit, we're 50-50 owners of that one was zero money. It's because I found the deals, I put them together. I'm the boots on the ground, the manager of the managers. I did that because I provide value, there's so many different ways to get units, but you have to have an understanding with whoever's looking.

If you can provide them value rather than taking a paycheck, somebody could've given me 10 grand to find the 42 units and some people would run with it. Luckily we didn't need it. We live frugally, we do okay. We're not high rollers, so I didn't need the 10 grand so rather than take, and it was more than 10 for the 42 units. I said, I want the equity and then my partner, it's a different partner that, we have the units in [inaudible 00:24:04], that was a straight up cash deal. He said, I'll give you 50-50, if you find it and you do everything. So, I got lucky on that one. So I'm a 50-50 owner on [inaudible 00:24:16] those with zero money in the deal.

Jeremy Goodrich: Wow, so as a [inaudible 00:24:18]-

Chris Berg: We've done capital injections or was it even an acquisition by realtor. We found an off market, it was pre-market type of thing-

Jeremy Goodrich: That's awesome.

Chris Berg: So many different ways, but I will tell you if you don't have the network of people that I do, which is, I think there's always somebody looking, the way that we got in, I truly believe it is, the BiggerPockets calls it house hacking. We house hacked. We took a decent home and we renovated the kitchen and the bathrooms and we did landscaping and we called in an appraiser and he appraised our home for 70 grand more than we bought it for. We took 80% of that and we bought the triplex. And then the triplex turned into a different one, so using the equity in your own home is an excellent strategy.

Jeremy Goodrich: Yeah, that's kind of creative financing maybe not the key definition of creative financing, but it's a obvious way to creatively finance something by using the equity in your home and starting from there and growing out of there. And realizing that sitting back and growing equity in a home is one approach. Certainly there's positive to that, but that equity is the capacity to grow that number exponentially. I think a lot of people are finding more and more that using that equity to grow your portfolio is a good idea. I guess maybe I turn that around into a question. What are your thoughts about when to use your equity and when to grow equity in a property?

Chris Berg: I think the answer to that is individual, you'll know when you're ready. So to this date, we have taken zero dollars from our investment properties are buy and hold because they are long-term play. When we were ready for long-term play, we said, let's use our equity. That's when it's time, when you've had almost enough of like the status quo, if you can buy a house for a 100,000 and you need 30 grand to fix it up, look at your equity and see if that's enough to get that done. So, when the time is right.

Jeremy Goodrich: That makes total sense. Okay, cool. So providing value was the first step. What would the second one be?

Chris Berg: It's easier for me than you to say, but it's all day it's education. Education, it doesn't matter how you get it. It's podcasting, it's reading books, REI groups, it's mentorships. I'm always talking and thing is I'm learning every day, there's so many different strategies. I think a lot of people get into this after they read Rich Dad Poor Dad but mine was a different book and mine was a different, I'd read Rich Dad Poor Dad and it helped me conceptualize the whole idea of investing in getting money to work for you. But I use all of these education pieces to help me podcasting books, REI groups and then I have my mentors, which happens to be my best friend and my other partners. So we all just bounce ideas off each other. We get creative.

Jeremy Goodrich: That makes sense. I've heard over and over again that, there's two pieces to making good decisions. The first one is education and the second one is experience and you can't buy experience, but you certainly can buy or find or put headphones on for education and you build that foundation and then you make some decisions, take some chances and get that experience.

Chris Berg: Yeah. You know, I've never told somebody this, but when I got serious about investing and it was years ago, but first podcast I listened to on the way back from Colorado was I think it was Spouses Flipping Houses. It was okay and it got me, peaked my interest.

Jeremy Goodrich: Was it like interpersonal part of like two people married to each other and having to navigate the construction and yeah, okay. Right on, cool.

Chris Berg: It was great and then again, my business partner, he goes, have you heard of BiggerPockets? And I said, no. So I literally, I jumped into like episode 100 and then I'm like, wow, this is good. And so all I did, and this is anybody who gets obsessed about anything like me, I'm all the way to episode number one. I listened to every single one. When I went jog, mowing the lawn. I always had my headphones and I listened to it. It's a complete education. And it's a bunch of terms you didn't understand, once you hear them a hundred times, you start to understand it. It was just great. It's fun.

Jeremy Goodrich: So providing value and your example was how you got into these 42 and 16 units by being the person who facilitated finding those buys and then education learning as much as you can. Let's finish out this episode with one more step to clarity for someone who wants to take that big leap.

Chris Berg: Mine is, whatever opportunity, so this is a keep an open mind part a little bit. I guess I'm giving you four, but it doesn't matter if it crosses my desk, my crosses in front of my face. If it's an opportunity, I truly heard it and I don't know who told me, but a lot of people have heard it. It's not, I can't afford it. It's like, you have to ask yourself, how can I afford it?

If it's a deal, it's a deal. If I don't have the money in my pocket, I've got to figure out, all right, I don't have it, but how can I get it? I don't have to own a hundred percent of it to be a victory. If it's 10%, then I'm super happy as well. It's 10% better than 0%. Then I think the one thing that I bring to the table is just grinding. I'm non-stop all the time. Again, I'm never focused too much because I'm always thinking about the next step or something else going on, but I'm always out there grinding. My wife hates the word grind. No, she hates the word hustle, which I think is just a spin on the word grind. Hustling sounds a little bit more sleazy.

Jeremy Goodrich: You can do both hustle, grind, work hard, get it done. All of them you can do well and you can do poorly. You can do ethically and you can do sleazy, but it really is. It's just like hard work and I think that you put a lot of things together.

Chris Berg: Yeah, that's a good way to put it, it's just hard work.

Jeremy Goodrich: Yeah, absolutely.

Chris Berg: The truth is, one thing I haven't portrayed in this interview is, I fricking love what I do. I'm having a blast.

Jeremy Goodrich: Yeah.

Chris Berg: I mean, as soon as I get off here, I'm going to go to a listing meeting for a probate and I'm super excited about it. Because, I know I can help the family out to get rid of that asset and help them make some money. Then I'm going to go over to a flip house and see how the renovations are going. It's so much fun, this whole real estate investing.

Jeremy Goodrich: I love it so much and it's exciting to listen to you and hear from you, Chris, on how you're doing it. I feel like there's been a lot of insight here and a lot of forward progress. So you mentioned that you're willing to help folks out. Obviously no one should be taken advantage of that. But if someone does want to get in touch with you either for some help, some questions or to have you, do the work that you do for them, how can they do so?

Chris Berg: Yeah, they can email me, which is livekirkwood@gmail.com. So live Kirkwood, gmail.com, or they can text me. It's fine. It's kind of the hug of death if give out your phone number, but they can find me on the internet.

Jeremy Goodrich: Yeah, sure.

Chris Berg: kirkwoodbtown.com is my website. It's pretty basic, but it's good enough for information and my contact information is on there. I do Facebook posts and Instagram and I have a small YouTube channel, all that stuff. So find me on social media.

Jeremy Goodrich: Sweet and all those things are linked in the show notes below the show. If you want to find Chris, there's all those ways to do that. Chris, thank you so much for being on the REI Clarity podcast. I think you created clarity for a lot of folks today.

Chris Berg: Thanks man. I appreciate it, had a great time.

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Every successful business is built on a well thought out plan. This episode breaks down our framework. A clear and simple foundation for focusing your real estate investing journey on the right balance of action steps.

Download the framework PDF Here: https://www.shineinsurance.com/reiclarity

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In this episode, Jeremy interviews Mark Kelwaski, one of Jeremy’s favorite investors and an incredibly rich source of REI info. We zoom in on his detailed approach to a smart proforma.

Download Marc's Monopoly cards HERE

How He Got His Investing Start

Mark originally began investing after being inspired by his wife’s grandparents, who made a living in the investing market. Mark and his wife bought their initial property, a townhouse, in the Bloomington area where they currently lived. Although they started small, Mark’s expertise allowed him and his wife to build up to 130 unit investments over five years. To say that they experienced phenomenal success is an understatement.

How Kelwaski Reached 130 Units in Record Time

Of course, Mark’s success wasn’t just the result of luck. Many things influenced how he made property buying decisions and how he ran his businesses.

Look for the Value You Can Add to a Property’s Existing Value

For starters, Mark stresses the importance of always looking for value that you, the investor, can add to the value already existing with a given property. As an example, he tends to look for properties that are not only already generating cash, but also properties where he can improve things to get an even greater return. It’s not quite the same thing as flipping, where you buy subpar properties and make them desirable again for a potentially great return.

Instead, Mark looks for synergy; he tries to figure out what operating mechanisms he has that can produce more cash for a given property, provided that he applies the right knowledge and resources to the unit in question.

He also stresses the importance of doing some fixup work yourself, especially in the beginning. He managed to keep several percentage points of his revenue in his own pocket while making properties more desirable in the long run.

Bring on a Property Manager

Mark didn’t go it alone for long. After purchasing his first multifamily property, he decided it was time to hire a property manager. Even though he gained lots of experience managing his properties himself, he knew that the benefits would outweigh the costs.

Specifically, Mark found that he needed more time for other aspects of running his businesses. So a property manager became a necessity instead of a luxury.

Property Managers Make Sense When You See Better Returns

Of course, many new investors hesitate to bring on property managers because they don’t want to lose some of their overall returns. Yet Mark found that property managers made a lot of sense for his businesses as he saw better returns. As he purchased and managed larger units and multifamily units, he eventually freed up enough income to contract for different services.

This, in turn, freed up more time and money for him to pick up new properties and add to his overall portfolios. In time, his returns increased exponentially, even when hiring a property manager. In this way, he shows the value of waiting until the right moment to hire a property manager, but not hesitating to pull the trigger when it is the right time.

Mentors and Advisors

Mark also shares some advice relating to mentors and advisors, which is valuable since many property investors start out on their own.

As he learned the ropes, Mark reached out to other property owners and his wife’s family in particular, as they had significant experience in the real estate investing market. Mark stresses the importance of having a few advisors and mentors. They can point you in the right direction or prevent you from making simple mistakes.

Mark also has a dedicated team that he trusts for day-to-day operations. As his businesses have grown, so too has his investment network. Now he has a collection of people he can call upon for advice whenever he needs.

Friendly Competition

Interestingly, Mark notes that, because there’s always enough investment opportunity to go around, it’s easy to ask for advice or mentorship from fellow real estate investors. Trading strategies or success tips with one another can be invaluable and help build a better investing community as a whole.

Experience Adds To – and Even Slightly Trumps – Education

While mentors and advisors were important, Mark also found that his experience in the pharmaceutical industry played an unexpected role in his real estate investment success. He worked in the industry for 15 years before breaking into real estate investing. Over those years, he negotiated several multimillion-dollar contracts and interacted with customers of all types. These soft social skills ended up being huge benefits when he needed to negotiate with buyers and sellers in the real estate investing sphere.

This being said, Mark also notes that education only gets you so far. He says that there’s no replacement for actually experiencing your first multiunit purchase. He’s learned a lot from every property he's acquired and all the time he spent talking with various sellers.

He dove deep into a specific example where he met a seller who was looking to sunset his property. He had to navigate a potentially difficult purchase where the home didn’t have flood insurance – and the owner wasn’t even aware!

Pro Forma – How to Measure a Property’s Output

Mark detailed his pro forma strategy, or the way in which he was able to consistently and accurately measure the potential output of a property he wanted to buy.

For Mark, the best process would have him:

● look at the past history of the property
● determine what he felt the property would look like in the future in terms of income and expenses
● see what other details might factor into the overall cap rate, price, etc.

In fact, Mark made heavy use of spreadsheets in order to look at the raw numbers for every potential property he considered. He states that it helped him take the emotion out of various properties, which resulted in better purchasing decisions. To this end, he also built his own pro forma tool instead of using one that he could’ve found on Google.

Building Relationships with Sellers is Key for Accuracy

Determining whether the numbers that a seller puts up for a property are accurate is one of the trickiest-to-navigate aspects of any real estate deal. For Mark, the best results came from building relationships with those sellers and asking for actuals. In some cases, full disclosures are present from the get-go. But in many other cases, Mark found that he needed to look for other numbers or actuals from the past.

He was able to get those actuals because of his friendly demeanor and the effort he put forward into building an actual relationship with the sellers of his potential properties. This way, he could ensure that both parties got a profitable deal from the exchange.

Do Your Due Diligence When Finding Properties to Pursue

Mark did and still does use “Monopoly cards” – these are small cards he uses for his pro forma notes. He writes down all the details of a potential property so he can check numbers when he gets back home. It’s this due diligence and attention to detail that has resulted in a phenomenal portfolio after just a few short years of investing.

He also practices this due diligence when he's asking specific questions to his sellers. For instance, he’ll ask for actuals from the past 12 months, or he’ll ask for repair histories and more. The point, he says, is to be detailed in your investigation so you’re always getting a great deal. You’ll often have to dig for the information you need for yourself, although it’s not always out of some scheme to cheat you. Sometimes sellers just don’t know what you need.

Repairs Are Especially Important On Pro Formas

Within his pro forma process, Mark has always paid special attention to repairs. He lumps all of his repairs together to bring all potential costs to a single number. In his mind, properties that have lower repairs mean more profits over time since there’s less money that has to come out of his pocket. Still, due diligence is important – for instance, he says, what if the lack of repairs is because of deferred maintenance?

As an example, Mark detailed a story where one of his properties had a furnace that was barely working. The former owners hadn’t fixed the item, so it ended up costing more in the long run.

Know What Other Units Are Renting For

Another big thing that Mark does to ensure overall profits is always be checking various online resources like Zillow or apartments.com to see what other properties in the area are renting for. This is one of the ways in which he keeps his own rental rates competitive and profitable.

Walk the Neighborhood

Mark also shares that he will frequently walk around in a neighborhood to do some rental price scouting. He finds that even asking people what they pay for their rent often provides actionable information that he can use as data points for his own purposes.

Furthermore, putting his “boots on the ground” allows him to scout out new potential investment opportunities without being limited by a computer screen.

Three Steps to Clarity – Mark Kawasaki

Each episode of REI Clarity features three steps that the guest might use to better their investment success. Here are Mark’s.

Solid Deal Analysis – Know What You’re Getting Into

The first thing Mark recommends for better investment clarity is solid, consistent deal analysis. He stresses the importance of always understanding what kind of deal you’re making and what financial agreement you’re getting into. Mark is decisive himself, so he’s never had an issue pulling the trigger on a deal that he felt good about. But ultimately, he implores the listener to get all their details down so they know if and when to make a buying decision.

Defined Operating Mechanisms – Have Good Workflows in Place

The next tip relates to how you run your business. Mark stresses the importance of having excellent workflows or “operating mechanisms”, especially as your business and portfolio grows. It’s critical that you know how your work orders will be handled, how your rent will be increased annually, who's in charge of handling property taxes, and so on. Even if it’s all done by you, you should still be aware of how work gets done and who’s in charge of each task.

Build a Network – Know the People

Lastly, Mark states that building a network is easily just as important as any other part of the investing process. Networks help you find buyers and sellers, particularly the latter. To Mark, it’s much more common (and enjoyable) to get a potential lead on a deal just from networking and telling people what he does. Like the old saying advises, network, network, network!

Last Thoughts

The episode wraps up with a final message from Mark: always feel free to reach out and ask for assistance. The resources you can find for real estate investing are vast and helpful. We’re all here to build up passive income and pass on wealth to future generations, and we can do that together by supporting one another.

Mentioned In The Episode

Shine Insurance

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View Details

Welcome to the REI Clarity Podcast!

Your number one goal as a property investor is to build financial freedom faster. Every new property represents the potential for early retirement, more vacations, a new hobby, and a deeper connection with your family. But the wrong buy could be a money pit and take you ten steps in the other direction as well. When you’re a part time investor, one tenant moving out or one over budget flip and money is draining out of your pocketbook instead of filling it. The difference between success and failure is clarity. The more clarity you have the quicker the path to financial freedom. This show is all about giving you as much clarity as possible.

The REI Clarity podcast is a path into the mind and strategies of investors who’ve graduated from part time investing and are leveraged real estate to build financial freedom faster. Many of our guest have found the mountain top and are experiencing financial freedom. Every episode will get you closer to that same outcome.

My name is Jeremy Goodrich and I’ll be your host on this journey. Over the past seven years I’ve served as an advisor to hundreds of real estate investors. I’ve seen every strategy, some very creative financing, lots of success, and little failure, and everything in between. I’ve advised investors with 1 property and others with hundreds. For most investors, our first connection is my knowledge around investment property insurance. Like a good accountant, realtor, lawyer, or property managers, an insurance agent that specializes in real estate investing is a priceless asset towards achieving your goal. But the best service providers are much more valuable than the specific role we play. We become trusted advisors and connectors. We make smart investing easier because we see it from a 10,000 foot view. In fact, if you think about it, your accountant and your insurance agent may be the only two people in your world that can see the entire picture.

So if you are looking for clarity, this show will provide it. Every Monday we’ll put out a new episode. One week we’ll feature a guest who has crossed the threshold from hobby investing to a tried and tested approach to building real financial freedom. We’ll hear how they made that leap, dig into their strategy, and hear their take on how you can follow in their footsteps. The next week, I’ll zoom in on one clear take away from the conversation. Clarifying the role of that step in your process and challenging you to take action around it. The combination will clarify your journey and shorten your path to financial freedom.

There are zero investors who have it all figured out, who are completely clear about the perfect decisions on every step of the journey. No one has 100% clarity and this show won’t suggest magic bullets, overnight success stories, or zero to millionaire pyramid schemes. What we will do is learn from real investors who’ve spent years mastering their craft and zoom in on the steps they took to get there. We’ll see that those who win at investing have a lot in common. They know how to build smart relationships, they understand their strengths and weaknesses, and they all study the process. But every investor has a deeply unique approach as well. We’ll get a glimpse at both.

Alright, are you ready to launch your real estate investing journey into the next phase. It’s time to map out the path to financial freedom faster. So smash the subscribe button and head over to episode one. Our first guest has build a portfolio of about 150 doors over that last 5 years. He’s done it with a clear buying strategy and a custom proforma. He’ll share his strategy and the proforma that helped him get there. Until then, here’s to clarity that brings financial freedom faster.

Want More? - It's here: www.shineinsurance.com/reiclarity

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Jeremy Goodrich