Multifamily Legacy Podcast: Recent Episodes
Corey Peterson
Corey Peterson is a rags to riches real estate entrepreneur and self made millionaire. He's a best selling author and has been featured on Fox, CBS, ABC, NBC affiliates. Multifamily apartments is his passion and specifically how to put deals together that operate effectively and cash-flow. If your tired of the hustle and grind from fix and flipping, let Corey, pull back the curtain and show you power of multifamily apartments and cash-flow.
Explore innovative investment strategies in this episode, diving into blind pool funds and building long-term relationships with Ken Gee. Learn how to navigate the real estate landscape and empower yourself with the knowledge to make informed decisions. Tune in to unlock success in multifamily investing!
Topics on Today’s Episode
- Pros and cons of hiring a third-party property management
- Advantages of starting a blind pool funds
- The value of long-term collaboration in real estate investing
- Benefits of acquiring real estate knowledge
- Why a long-term vision is key to multifamily success
Resources/Links mentioned
- The 10X Rule by Grant Cardone | Kindle, Spiral-bound, and Hardcover
- The 7 Habits of Highly Effective People by Stephen R. Covey | Kindle, Paperback, and Hardcover
About Ken Gee
Ken 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 transactions, 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.
Connect with Ken
- Website: KRI Partners
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Are you grappling with the challenges of rent collection in your rental properties? If so, dive into this episode as we shed light on the significance of implementing a robust system and processes to streamline cash flow and ensure the smooth operation of your rentals. Stay tuned and learn how to manage your properties with ease!
Topics on Today’s Episode
- Basic steps of the rent collection process for landlords
- The role of a property manager in collecting rent effectively
- Downsides of accepting partial payments from tenants
- Tips and tricks to get your tenants to pay rent on time
- Reasons why landlords should adopt online rent collection
Resource/Link mentioned
Join our exclusive "Apartments to Millions" 3-day live course, launching April 16th. Learn proven strategies from industry experts, unlock the secrets of apartment investing, and achieve financial freedom. Secure your slots at a2mlive.com and save $1,000 with promo code CORY.
Connect with Us
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
In this episode, we unravel the complexities of relationships in pursuit of entrepreneurial success with Gannon Coffman, diving into the essence of love, trust, and empowerment to thrive on your journey. Stay tuned to uncover practical wisdom to navigate relationships and entrepreneurship confidently!
Topics on Today’s Episode
- Keys to thrive in marriage and entrepreneurship at the same time
- The value of effective communication between couples
- Why it’s vital to define your roles when working with your spouse
- Strategies to support your solopreneur partners
- Love Journal: What it is, and how it helps strengthen relationships
About Gannon Coffman
Gannon Coffman is a seasoned and established CRE professional with 10+ years of experience in CRE development, asset operations, and increased leadership responsibilities.
Connect with Gannon
- LinkedIn: Gannon Coffman
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
In this episode, we dive into the highs and lows of closing deals, from the good moments to the challenging aspects. Delve into the intricacies of property takeovers, learn from mistakes, and understand the crucial role of insurance in this comprehensive guide to successful transactions.
Topics on Today’s Episode
- Rookie mistakes when getting into a real estate contract
- Why it’s challenging to retain employees when taking over a property
- Risks of not preparing property insurance
- Issues real estate investors might face with lending companies
- Advantages of forming a real estate team that shares the same values
Resources/Links mentioned
- Berkadia
- AM Best
- Freddie Mac
- Fannie Mae
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Explore the highs and lows of property investing in this kickoff episode, where we take an in-depth look at a real estate auction. Stay tuned as we share firsthand experiences and priceless insights to prepare, secure funding, and place winning bids in the competitive real estate arena.
Topics on Today’s Episode
- How to manage real estate financing and deal opportunities
- The power of being a servant leader as an entrepreneur
- Actionable steps to prepare yourself for a property auction
- Key lessons from Corey’s successful property auction bid
- Qualities an investor must have when making investment decisions
Resource/Link mentioned
- Chandler Compadres
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Explore tried-and-true tactics derived from Emily Gage’s extensive experience as a leasing manager. Uncover the subtle yet crucial attributes of a successful property manager as Emily shares invaluable insights to navigate your leasing journey. Elevate your approach with these insightful lessons for optimal results!
Topics on Today’s Episode
- Emily’s journey to becoming a leasing manager
- Strategic ways to get tenants in student housing property
- Lessons from a seasoned leasing manager
- Qualities that sets a good property manager from a bad one
- Tips for real estate investors before signing up for any investments
About Emily Gage
Emily is the leasing manager at Kahuna Management, a premier multifamily property management company dedicated to providing exceptional living experiences for their residents while maximizing returns for their investors.
Connect with Emily
- Website: Kahuna Investments | Kahuna Management
- LinkedIn: Emily Gage
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Think beyond houses and discover untapped potential in mobile home parks and car washes in this episode featuring Matt Fore. Stay tuned as he shares practical steps leading to stable, long-term income, and learn how to expand your investment portfolio to achieve remarkable outcomes.
Topics on Today’s Episode
- The power of consistency in achieving your goals
- Matt’s journey of leveraging real estate toward financial freedom
- Advantages of investing in mobile home parks
- Strategic ways to increase your income in mobile home parks
- Why teams are important in a real estate business
Resources/Links mentioned
- Amazon
- HGTV
- The Miracle Morning by Hal Elrod | Kindle and Paperback
- The Last Lecture by Randy Pausch and Jeffrey Zaslow | Kindle, Paperback, and Hardcover
- YouTube
About Matt Fore
Matt is a regional sales director at Dell EMC. He is also a real estate investor and a triathlete. He is a highly motivated, results-driven sales leader with 12+ years of technology sales. He is a strategic and analytical thinker with a proven track record of exceeding revenue and margin goals.
Connect with Matt
- Website: Next Level Income | Dell
- Podcast: Ice Cream with Investors | Apple Podcasts and Spotify
- LinkedIn: Matt Fore
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Discover the cutting-edge tech reshaping short-term rentals in today's episode, as Sief Khafagi explores how this innovative software fuels scalable growth. Learn from his firsthand experiences how he optimizes and strategizes growth for your rental business. Tune in to supercharge your success!
Topics on Today’s Episode
- Advantages of utilizing Techvestor for your property investment deals
- Key factors to short-term rental success
- Ways to raise funds for your short-term rental investments
- Benefits of having a good debt structure
- 2 things you should optimize in your short-term rental business
Resources/Links mentioned
- Airbnb
- Traction by Gino Wickman | Kindle, Paperback, and Hardcover
About Sief Khafagi
Sief is the founder of Techvestor, which helps accredited real estate investors and busy professionals passively invest in the emerging asset class of short-term rentals with a focus on higher-than-average cash flows and lifestyle by design. He is an ex-techie turned real estate investor who has helped thousands diversify into real estate after spending nearly five years in Facebook, where he built the 2nd largest engineering organization in the world.
Connect with Sief
- Website: Techvestor
- LinkedIn: Techvestor | Sief Khafagi
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
In today’s episode, we invited Aaron Fragnito to share actionable tips and insider strategies for building wealth and capital in real estate investing. Learn why and how teaming up with a property management company equips you with the tools to elevate your portfolio and boost your capital gains. Dive in!
Topics on Today’s Episode
- What is a debt fund, and how does it work?
- Basics of managing a self-storage property
- Advantages of having your own property management company
- Strategies to reduce cost and increase profit for your property management business
- How recessions impact the real estate industry
Resources/Links mentioned
- Rich Dad Poor Dad by Robert T. Kiyosaki | Kindle and Paperback
- Structuring and Raising Debt & Equity for Real Estate by Rob Beardsley | Kindle and Paperback
- Where to Get the Money Now by Jay Conner | Kindle and Paperback
Elevate your understanding of real estate by claiming your FREE copy of Corey Peterson's book, Trust But Verify. Text "TRUST" to (480) 500-1127 and learn the essential skill of critically evaluating real estate syndicators!
About Aaron Fragnito
Aaron has been in real estate for over 10 years and has transacted over 250 deals. He is a well-known name in the real estate investment industry throughout New Jersey, beginning his career as a realtor and transitioning to the investment side in 2013. He now helps people start and build their wealth in real estate investments. Aaron also hosts the New Jersey Real Estate Network (NJREN) and the Cash Flow Podcast (YouTube) and educates younger generations as an adjunct professor at Rowan University.
Connect with Aaron
- Website: Peoples Capital Group
- Podcast: Passive Cash Flow Podcast | Apple Podcasts and Spotify
- LinkedIn: Aaron (NJ Market Expert) Fragnito
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
In this episode packed with Tom Wheelwright’s expertise, we’ll delve into the power of a child’s upbringing, the profound essence of work, and entrepreneurial tax advisers. Uncover these insights that shape lasting financial and tax knowledge to fortify your path toward success when you tune in!
Topics on Today’s Episode
- Parents’ role in developing their children’s skills
- The importance of one’s upbringing and core values
- What makes work valuable to an individual
- Advantages of having entrepreneurial tax advisers
- Affordable ways to maximize your tax benefits
Resources/Links mentioned
- Rich Dad Poor Dad by Robert T. Kiyosaki | Kindle and Paperback
- The Worst Generation by Richard Rathmann | Kindle and Paperback
- Tax-Free Wealth by Tom Wheelwright | Kindle and Paperback
- Who Not How by Dan Sullivan and Benjamin Hardy | Kindle, Paperback, and Hardcover
About Tom Wheelwright, CPA
Tom is a CPA, founder, CEO of WealthAbility and best-selling author of Tax-Free Wealth. Wheelwright is a leading wealth and tax expert, global speaker, and entrepreneur. He is best known for making taxes fun, easy, and understandable, and he specializes in helping entrepreneurs and investors build wealth through practical and strategic ways that permanently reduce taxes.
Connect with Tom
- Website: Wealthability
- Podcast: The WealthAbility Show with Tom Wheelwright, CPA | Apple Podcasts and Spotify
- LinkedIn: Tom Wheelwright
- X: @tom_wheelwright
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Embark on the journey to real estate triumph by mastering investor relations. In this episode, we're honored to have Shelley Peterson share valuable insights on sales, marketing, and scaling a business through a powerful network. Unveil the pivotal role of investor relations in steering the course toward prosperous ventures by tuning in!
Topics on Today’s Episode
- How Shelley plays the role of an investor relations officer
- Why it’s crucial to understand your investor as a real estate operator
- The power of implementing traction and culture in your business
- Qualities investor relations officers must possess
- Simple tips for beginners acquiring real estate education
Resource/Link mentioned
- The Predictive Index
Elevate your understanding of real estate by claiming your FREE copy of Corey Peterson's book, Trust But Verify. Text "TRUST" to (480) 500-1127 and learn the essential skill of critically evaluating real estate syndicators!
About Shelley Peterson
Shelley is the president of Kahuna Investments, LLC., a privately held investment firm that partners with passive investors to create award-winning apartment communities that families love to call home. Shelley focuses on investor relations, acquisitions, and asset management of all current portfolio assets. Primary roles are sourcing investment opportunities and investor communications. In addition to finding deals, Shelley is responsible for developing effective communication strategies and vehicles targeted to the investment community that accurately portray the company's vision, performance, and prospects.
Connect with Shelley
- Website: Kahuna Investments
- LinkedIn: Shelley Peterson
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Get ready for a transformative conversation with Alicia Maxwell that’ll redefine the entire landscape of how you handle various tasks with finesse, especially in the dynamic realm of investor relations. So, press play and elevate your investor relations game to unprecedented heights today!
Topics on Today’s Episode
- What does an investor relations officer do?
- The best part of being an investor relations officer
- A step-by-step process to successfully onboard investors
- Importance of having a good company culture
- The value of being able to learn from work
Resources/Links mentioned
- BNI
- Chandler Chamber of Commerce
- Expandi
- A CEO Only Does Three Things by Trey Taylor | Kindle, Paperback, and Hardcover
- Who Moved My Cheese? by Spencer Johnson | Kindle, Paperback, and Hardcover
- Rich Dad Poor Dad by Robert T. Kiyosaki | Kindle and Paperback
Elevate your understanding of real estate by claiming your FREE copy of Corey Peterson's book, Trust But Verify. Text "TRUST" to (480) 500-1127 and learn the essential skill of critically evaluating real estate syndicators!
About Alicia Maxwell
Alicia is the investor relations officer at Kahuna Investments but handles various tasks for the company. Before Kahuna, she worked in accounting at Firefly Aerospace, an end-to-end space transportation company.
Connect with Alicia
- Website: Kahuna Investments | Firefly Aerospace
- LinkedIn: Alicia Maxwell
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Discover the keys to excellent property management leadership today with Candee Dalton as your expert guide. Join us for an insightful episode delving into the dynamic world of real estate and gain valuable insights into how effective leadership can boost morale, driving properties toward greater success and satisfaction!
Topics on Today’s Episode
- The importance of supporting your business team members
- Different ways COOs foster employee growth in property management companies
- How and why should you remind your employees of their worth
- Compelling reasons why conflict makes a team better
- Best aspects of running a property management business
Resources/Links mentioned
- Slack
- The Predictive Index
Elevate your understanding of real estate by claiming your FREE copy of Corey Peterson's book, Trust But Verify. Text "TRUST" to (480) 500-1127 and learn the essential skill of critically evaluating real estate syndicators!
About Candee Dalton
Candee is the COO of Kahuna Investments and a property manager at Asset Living, a third-party management firm and a proven partner in fostering thriving communities nationwide. Founded in 1986, Asset Living has decades of experience delivering exceptional value to its partners.
Connect with Candee
- Website: Kahuna Investments | Asset Living
- LinkedIn: Candee Dalton
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Integrators are vital in business, acting as the glue that binds elements into a unified whole. In real estate, they play a crucial role, similar to Gannon Coffman's expertise as an operational leader. So, explore the functions of a chief operating officer and how they optimize systems to drive real estate success. Dive in!
Topics on Today’s Episode
- General functions of a chief operating officer in a RE business
- Cost-saving strategies for commercial real estate investments
- What to expect when working with a visionary leader
- The importance of having a good company culture
- Biggest challenges COOs face in real estate and ways to address them
Resources/Links mentioned
- Slack
- Traction by Gino Wickman | Kindle, Paperback, and Hardcover
- The E-Myth Revisited by Michael E. Gerber | Kindle, Paperback, and Hardcover
- Trust But Verify by Corey Peterson | Kindle and Paperback
Elevate your understanding of real estate by claiming your FREE copy of Corey Peterson's book, Trust But Verify. Text "BOOK" to (480) 500-1127 and learn the essential skill of critically evaluating real estate syndicators!
About Gannon Coffman
Gannon is the COO of Kahuna Investments, a vertically integrated private equity real estate company specializing in multifamily and student housing investing. He has over 15 years of experience in commercial real estate brokerage and development. Gannon has a Master's in real estate development and a Bachelor's in business and corporate communications.
Connect with Gannon
- Website: Kahuna Investments
- LinkedIn: Gannon Coffman
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Staying ahead of the competition and achieving your goals requires a keen understanding of the most critical resource. Tune into this insightful episode to learn how to invest in your most valuable asset and unlock the potential that lies within.
Topics on Today’s Episode
- Rewarding benefits of treating your employees like valued family members
- Why every employee is important in your company
- The power of being passionate and believing in your vision
- An investor-driven approach for raising investment capital
- Valuable tips to keep in mind to scale your business to success
Resources/Links mentioned
- A CEO Only Does Three Things by Trey Taylor | Kindle, Paperback, and Hardcover
- Traction by Gino Wickman | Kindle, Paperback, and Hardcover
- The Five Dysfunctions of a Team by Patrick M. Lencioni | Kindle and Hardcover
- Trust But Verify by Corey Peterson | Kindle and Paperback
Elevate your understanding of real estate by claiming your FREE copy of Corey Peterson's book, Trust But Verify. Text "BOOK" to (480) 500-1127 and learn the essential skill of critically evaluating real estate syndicators!
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Property managers take on the demanding task of overseeing residential properties, ensuring that tenants enjoy a seamless and enjoyable living experience. Today, we are delighted to have Madison Roberson on the show to delve into their crucial role and how they deliver exceptional service to landlords and tenants in the rental process.
Topics on Today’s Episode
- Challenges of managing properties and studies at the same time
- The importance of fostering a good company culture
- Why treating your team like family is the key to effective leadership
- Advantages of cultivating meaningful tenant relations
- Hiring tips for choosing the right employee
Resources/Links mentioned
- Asset Living
- Slack
- Kahuna Wealth Builders
- @kahunacashflow
About Madison Roberson
Madison is the property manager at Eagle Village Apartments in Evansville, Indiana. With three years of experience in the property management industry, she has demonstrated her expertise in overseeing the operations and maintenance of residential properties. Her educational background enhances her ability to provide exceptional service to tenants and property owners, ensuring a seamless and enjoyable living experience. Madison's attention to detail, strong communication skills, and dedication to client satisfaction make her an invaluable asset to Eagle Village Apartments. She continues to expand her knowledge of property management and architectural trends to deliver the highest level of expertise in her role.
Connect with Madison
- Website: Kahuna Investments | Eagle Village Online
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
What does it take to be a community assistant? Join Chloe Smith as she dives into the multifaceted responsibilities CAs undertake. Don’t miss out on this opportunity to learn about the advantages of a like-minded community, effective tenant engagement strategies and gain a comprehensive understanding of the apartment leasing landscape.
Topics on Today’s Episode
- Benefits of being with a group of like-minded people
- How to engage potential tenants when leasing properties as a CA
- The process of online leasing apartments for college students
- Strategies to increase reviews for your rental property
- Insightful advice on handling business hardships for community assistants
Resources/Links mentioned
- The Predictive Index
- Kolbe.com
- Amazon
- Nineteen Minutes by Jodi Picoult | Kindle and Paperback
- This Present Darkness by Frank E. Peretti | Kindle, Paperback, and Hardcover
About Chloe Smith
Chloe is a community assistant at Eagle Village Apartments in Evansville, Indiana. She brings a wealth of experience in property management since February. Her exceptional customer service skills and attention to detail have made her an invaluable asset to the team. Her passion for positively impacting people's lives is evident through her dedication and commitment to providing top-notch service. With a strong background in property management and a determination to excel in her dental assisting career, Chloe is continuously expanding her knowledge and skills to deliver exceptional results. She brings a warm and friendly demeanor to her role, ensuring that residents at Eagle Village Apartments feel welcome and well-cared for.
Connect with Chloe
- Website: Kahuna Investments | Eagle Village Online
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Accountants are like the navigators of the business world, steering through turbulent financial waters. In this episode, Devonne West sheds light on accountants' pivotal roles and how they turn challenges into opportunities, transform early mistakes into valuable lessons, and propel the business growth journey forward!
Topics on Today’s Episode
- Essential functions of an accountant in business operations
- Common mistakes accountants make and how to solve them
- The importance of understanding your business’s capital expenditure
- Year-end challenges CPAs face and strategies to address them
- How accountants view financial hardships in business
Resources/Links mentioned
- The Predictive Index
- YouTube
- The 12 Rules for Life by Jordan B. Peterson | Kindle and Hardcover
- A Man Called Ove by Fredrik Backman | Kindle and Paperback
About Devonne West
Devonne is a certified accountant and a controller in Kahuna Investments. She is a motivated self-starter with a drive to perform tasks with excellence and accuracy on time. Devonne is detail-oriented and continually seeks ways to improve processes.
Connect with Devonne
- Website: Kahuna Investments
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Get ready to revolutionize your commercial real estate leasing approach in this episode featuring Tyler Cauble. Dive in as he shares top-notch lease strategies that can boost your cash flow and fast-track your journey to success. Gain the upper hand by learning how to navigate the pitfalls in this industry and make the most out of your ventures!
Topics on Today’s Episode
- Main types of commercial real estate leases
- Ways to leverage commercial leases to increase cash flow
- Actionable steps to get into commercial real estate investing
- Strategies to keep your commercial spaces occupied
- Common mistakes landlords make and tips to overcome them
Resources/Links mentioned
- Starbucks
- Target
- Walmart
- Walkable City by Jeff Speck | Kindle and Paperback
About Tyler Cauble
Tyler is the founding principal and president of The Cauble Group. He's a native Nashvillian who has witnessed the city's tremendous growth and is involved in it through his developments, renovation projects, and volunteer work. As president of The Cauble Group, Tyler helps bring buyers, sellers, landlords, and tenants in retail, office, industrial, and multi-family real estate. He's committed to helping business owners understand the market to grow their business and be part of Nashville's future. Cauble is also the best-selling author of Open For Business: The Insider's Guide to Leasing Commercial Real Estate.
Connect with Tyler
- Website: The Cauble Group
- Instagram: @commercial_in_nashville
- YouTube: Tyler Cauble
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
In this episode, we invited Richard Canfield to share smart money moves to build and safeguard your wealth for today and generations ahead. Discover the importance of financial coaching and leveraging the Kolbe A™ Index for entrepreneurial success. Hit that play button to learn more!
Topics on Today’s Episode
- Advantages of joining strategic coaching programs
- Why it’s essential to manage your energy at work and your finances
- Kolbe A™ Index: What it is and why should you get it done?
- The importance of family financial meetings
- An interlink between money, time, and experience
Resources/Links mentioned
- Rich Dad's CASHFLOW Quadrant by Robert T. Kiyosaki | Kindle and Paperback
- Strategic Coach
- Who Not How by Dan Sullivan and Benjamin Hardy | Kindle and Paperback
- 10x is Easier than 2x by Dan Sullivan and Benjamin Hardy | Kindle and Paperback
- Kolbe A™ Index
- Nelson Nash
- Nelson National Institute
- The Brower Quadrant by Lee Brower | Paperback
- Cash Follows the Leader by Richard Canfield and Jayson Lowe | Kindle and Paperback
- Becoming Your Own Banker by R. Nelson Nash | Paperback
Discover the secrets to consistent cash flow and uninterrupted compounding by grabbing your FREE copy of The 7 Simple Steps To Becoming Your Own Banker. Visit 7steps.ca and take control of your financial future today!
About Richard Canfield
In 2009, Richard's life changed completely when he read the book Becoming Your Own Banker, Unlock The Infinite Banking Concept by R. Nelson Nash. He knew this was what he had been looking for all his life. Nelson Nash became his personal friend and mentor, and Richard and his team now teach his powerful message of financial hope and control to North Americans. As an Amazon Bestselling Author, Podcast Host, and Authorized Infinite Banking Practitioner, Richard is passionate about putting people in the driver's seat of their financial life and creating durable, dependable, generational wealth. They work with families, business owners, and Real Estate Investors to strategize how they can keep more of the hard-earned money that flows through their hands over a lifetime.
Connect with Richard
- Website: Wealth Without Bay Street
- Podcast: Wealth Without Bay Street | Apple Podcast
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Uncover the path to financial abundance through residential assisted living in this compelling episode with Isabelle Guarino. Today, she unveils the proven strategies for creating a steady stream of cash flow in this industry and how you can turn your properties into profitable assets while making a positive impact on seniors' lives.
Topics on Today’s Episode
- Residential Assisted Living: What it is and why it’s a wise investment
- An estimated cost of investing in residential assisted living
- Benefits of continuously marketing your residential assisted living facility
- Why hiring the right people for your company is crucial
- The power of grit in scaling your business
Resource/Link mentioned
- The 5 AM Club by Robin Sharma | Hardcover
About Isabelle Guarino
Isabelle is a sought-after coach and trainer at the Residential Assisted Living Academy. The R-A-L Academy is the premier source for education in owning, operating, and investing in Residential Assisted Living and senior housing. They have trained people from across the country on how to turn a single-family home into a cash flow machine. Isabelle is the Chief Operating Officer for Residential Assisted Living Academy. She has taken over the educational aspects from their late Founder, Gene Guarino, and leads the company in pursuit of “Do Good and Do Well.”
Connect with Isabelle
- Website: Residential Assisted Living Academy
- YouTube: Residential Assisted Living Academy
- Facebook: Residential Assisted Living Academy
- TikTok: @ral.academy
- Instagram: @ralacademy
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Are you an entrepreneur looking to expand your professional connections? If so, join Anthony Simonie today as he shares proven strategies and tips for building your LinkedIn business network and generating the right leads. Don’t miss this chance to advance your career and business!
Topics on Today’s Episode
- Why LinkedIn is beneficial for business owners
- How to leverage LinkedIn to create business networks
- The role of establishing relationships in private money investing
- Benefits of working with the right people and maximizing lead flow
- Success tips for new entrepreneurs
Resources/Links mentioned
- LinkedIn Sales Navigator
- Corey Peterson
- Zoom
- The Man in the Arena by Theodore Roosevelt | Kindle, Paperback, and Hardcover
- Daring Greatly by Brené Brown | Kindle, Paperback, and Hardcover
Ready to make your LinkedIn profile shine? Just text 'GUIDE' to (512) 812-7755 now, and Anthony's invaluable guide is yours for FREE. Elevate your professional presence today and seize those career opportunities waiting for you!
About Anthony Simonie
After building multiple seven-figure online and offline businesses from scratch, Anthony turned his attention to helping other small and medium-sized companies scale profits by leveraging his unique no-BS approach to marketing and sales.
For more than 16 years, his passion has helped businesses and professional service providers grow sales and profits by effectively leveraging unique marketing and sales strategies, both online and offline. Anthony has worked alongside some of the most brilliant business minds on the planet and brings a wealth of knowledge and experience to his clients.
He’s successfully built three brick-and-mortar service-based businesses and co-founded four successful online consulting and training companies serving more than 10,000 clients. He's become a highly sought-after business strategist known for getting things done.
Anthony is married with two children through adoption and resides in Austin, TX.
Connect with Anthony
- Website: Client Elevator
- LinkedIn: Anthony Simonie
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Curious about mastering deals in today's market? Get ready to dive in with Jorge Abreu as he unveils his strategies for using his construction and management company to steer his investment voyage. Hop on board and discover his tried-and-true methods!
Topics on Today’s Episode
- Benefits of having a construction company
- The power of partnership and syndication
- Techniques for finding great deals
- What it means to invest in a sleeper market
- Practical advice for new operators
Resource/Link mentioned
- A CEO Only Does Three Things by Trey Taylor | Kindle, Paperback, and Hardcover
About Jorge Abreu
Jorge Abreu has invested in real estate for 16+ years. He began with small multifamily properties, moving up to 100+ unit multifamily units. Jorge wholesaled 250+ single-family properties and flipped 200+. He completed new development projects worth over $40 million.
He founded a construction company with $30+ million in annual revenue. Now an active/passive full-time multifamily investor, Jorge's Elevate acquired 7,737 units, exited 1,608, and held $550M+ assets.
Jorge is CEO of Elevate Commercial Investment Group and JNT Construction. JNT Construction aids multifamily investors with due diligence and renovations. He launched Elevate Real Estate Management, creating vertical integration. His Multifamily Coaching program assists others.
Based in Dallas, he owns properties across multiple states. He is skilled in deals, due diligence, CapEx, development, and equity. He is aiming for 10,000 doors by 2023 via partnerships and scalable systems. He focuses on Elevate team growth in 2023 for effective expansion management.
Connect with Jorge
- Website: Elevate Commercial Investment Group
Connect with Us
Want to invest alongside the Kahuna Investments team? Save your spot in our upcoming webinar, where we discuss how you can join our Private Investor Club and get access to our deal rooms exclusively. Now's your chance to start apartment investing, so visit kahunainvestments.com/webinar to register!
Take the first step towards financial success by learning more about Kahuna Investments, and if your investment goals align with our formulas and approaches – book a short 15-minute Virtual Coffee call with us at kahunainvestments.com/coffee today!
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Unlock a hidden revenue power-up as Tiffany Mittal joins the show with her one-stop portal for utility billing. Learn more about Utility Ranger and how it can help drive your net operating income and increase your property's value. Don't miss out on this one!
Topics on Today’s Episode
- How to transfer utilities to new tenants the right way
- Advantages of possessing strong utility management abilities
- Ways to create another revenue stream through utilities
- Tips on how to make the most of Utility Ranger
- Why you should take advantage of multifamily’s future
Resources/Links mentioned
- Grant Cardone
- Start with Why by Simon Sinek | Kindle, Paperback, and Hardcover
Get hold of Tiffany's effective billing solutions and increase your Net Operating Income (NOI) using Utility Ranger's utility billing services. Access the 2-month FREE trial by clicking on this link: https://utilityranger.com/
About Tiffany Mittal
Tiffany Mittal is the CEO of Utility Ranger. She's a visionary executive leader known for her strategic insight, boasting a rich reservoir of experience in managing multifamily real estate, utility operations, and payment technology. A genuine passion for energy conservation and advancements in financial technology underscores her leadership approach.
Tiffany's central focus lies in propelling revenue growth, expanding profit margins, and optimizing operational efficacy to ensure sustained and enduring progress. Her track record showcases her proficiency in steering multiple companies toward exponential expansion within the confines of San Diego and across the entire nation. Notably, Tiffany holds the esteemed position of Chair at the Independent Rates Oversight Committee. She actively works to enhance accessibility to the city's fair and just utility rates.
Connect with Tiffany
- Website: Utility Ranger
- LinkedIn: Tiffany Mittal
- YouTube: Utility Ranger
- Facebook: Utility Ranger
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
You might be under the impression that real estate isn't a viable option in today's economy, but we have a different perspective. Allow us to present compelling reasons why investing in properties at this time is worth considering. Join us today to discover these reasons!
Topics on Today’s Episode
- Key reasons to invest in real estate today and how to do it properly
- Challenges in the current housing market and ways to counter it
- What should you do to get closer to your investing goals
- Powerful tips for surviving in real estate
- Common mistakes of people in the multifamily space
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Sterling Chapman returns to the show, delivering yet another thought-provoking episode, guiding us to scrutinize the gaps in our real estate journey. Discover the genuine potential of sustained property ownership during this economic phase while leveraging the advantages of owning a property management firm. Join us as we unveil the strategies to attain such mastery!
Topics on Today’s Episode
- Obstacles and prospects of the current economic landscape
- An ideological strategy to generate revenue in a shifting market
- Essential attributes for a successful real estate investor
- Game-changing benefits of owning a property management company
- What sets Crestworth property management apart from other management firms
Resources/Links mentioned
- 202: Finding Valuable Capital Investors Through Education
- Rich Dad Poor Dad by Robert T. Kiyosaki | Kindle and Paperback
- Best Ever Apartment Syndication Book by Joe Fairless and Theo Hicks | Kindle and Paperback
- Who Moved My Cheese? by Dr. Spencer Johnson | Paperback
About Sterling Chapman
Sterling is a proud family man with a bachelor’s degree in Finance and an MBA from Louisiana State University. He spent his early career in the financial services industry, focusing on retirement and insurance planning before eventually transitioning to the Telecom industry.
Through his successful corporate career in Telecom, Sterling has mastered the art and science of sales, funnel management, marketing, account management, strategic business planning, and financial forecasting. He began his real estate investing journey in early 2018, purchasing single-family houses and quickly moved up to duplexes and fourplexes, flipping houses and eventually large multifamily.
Sterling has over $26.5M in Assets under management. His portfolio now comprises 82 single-family or small multifamily rental units, a 53-unit apartment complex in Newnan, GA, and a 70-unit complex in Rock Hill, SC.
Self-managing and overseeing the renovations personally for the first few years has taught Sterling a ton about the industry. In addition to founding Crestworth Capital, he is the Host of The Rent Roll Radio Show, Co-host of the Red Stick REIA, and has been a guest as an industry expert on dozens of other real estate podcasts.
Connect with Sterling
- Website: Crestworth Capital | Crestworth Property Management
- Podcast: The Rent Roll Radio Show | Apple Podcast
- Facebook: Sterling Chapman
- Youtube: Sterling Chapman
- Tiktok: @sterlingrchapman
- Instagram: @sterlingrchapman
- Phone Number: (225) 247-5562
- Email: sterling@crestworthcapital.com
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Don't miss today's episode, where we bring fresh insights into the current economic landscape with our esteemed guest, Mike Zlotnik. Join us as "Big Mike," a seasoned real estate fund manager, imparts valuable advice on navigating this economic cycle. Tune in and learn from a seasoned capital allocator!
Topics on Today’s Episode
- Expert insights on the current economic landscape and housing market
- Strategies for managing your finances and alternative options to reduce debt obligations
- Approaches to generate income amidst a high-interest rate environment
- How to successfully establish a strong business network and use it to your advantage
- Advice for novice investors entering the housing market
Resources/Links mentioned
- Principles for Navigating Big Debt Crises by Ray Dalio | Kindle and Hardcover
- Antifragile by Nassim Nicholas Taleb | Kindle, Paperback, and Hardcover
- Peaks and Valleys by Spencer Johnson | Kindle, Paperback, and Hardcover
- The Uncertainty Solution by John M. Jennings | Kindle and Hardcover
- The Lords of Easy Money by Christopher Leonard | Kindle, Paperback, and Hardcover
- Richer, Wiser, Happier by William Green | Kindle, Paperback, and Hardcover
- A CEO Only Does Three Things by Trey Taylor | Kindle, Paperback, and Hardcover
- Traction by Gino Wickman | Kindle, Paperback, and Hardcover
About Mike Zlotnik
Mike is a respected real estate fund manager with over a decade of experience. He manages funds like the Tempo Growth Fund LLC and the Tempo Opportunity Fund LLC. "Big Mike" is known for his integrity and financial expertise. He's also an author and host of the "Big Mike Fund" podcast. Mike lives in Brooklyn with his family and holds a Bachelor's degree in Mathematics.
Connect with Mike
- Website: Big Mike Fund
- Podcast: BigMikeFund | Apple Podcast
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Discover the hidden potential of distressed mortgage notes in this eye-opening podcast with Chris Seveney. Today, he guides you through its intricacies, benefits and drawbacks, and practical strategies to maximize your returns. Don't underestimate the power of these notes; keep listening and unlock the secrets to lucrative investments!
Topics on Today’s Episode
- Perks of investing in distressed mortgage notes
- A 1-year market projection for distressed mortgage notes
- Difficulties in raising capital when buying distressed mortgage notes
- Experts' financial and investing insights in today’s market cycle
- What makes real estate different from other asset class
Resources/Links mentioned
- The Buddha and the Badass by Vishen Lakhiani | Kindle, Paperback, and Hardcover
- Vivid Vision by Cameron Herold | Kindle, Paperback, and Hardcover
- Extreme Ownership by Jocko Willink and Leif Babin | Kindle, Paperback, and Hardcover
About Chris Seveney
Chris Seveney leads 7E Mortgage Note Investments, bringing over 25 years of real estate experience. He is known for his honesty, integrity, professionalism, passion, and tenacity. With a multimillion-dollar portfolio from construction and property rehab, Chris has managed over $1B in new construction. Since 2016, he has acquired 500+ mortgage notes worth over $25 million in unpaid balances across 40+ states. Chris holds degrees in Civil Engineering and Real Estate Finance. He hosts the podcast "Creating Wealth Simplified" and is a top contributor on BiggerPockets.
Connect with Chris
- Website: Seveney Mortgage Note Investments
- Podcast: Creating Wealth Simplified
- LinkedIn: Christopher Seveney
- Facebook: Christopher Seveney
- Email: chris@7einvestments.com
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
The scarcity of affordable housing, particularly affecting young professionals, is widely recognized. To shed light on a potential solution, we have Matt Ryan as a guest on the show to dive into the intricacies of co-living spaces. Discover how these spaces work and why they may be an excellent investing option for you to consider.
Topics on Today’s Episode
- How does the Re-viv co-living model work
- Important considerations for converting a property into a co-living space
- The rising trend of co-living spaces and the advantages it offers
- An effective method for learning and executing your business model
- Why you should hire the right people and how to do it
Resources/Links mentioned
- Craigslist
- Coliving.com
- Who Not How by Dan Sullivan | Kindle, Paperback, and Hardcover
- The Most Important Thing by Howard Marks | Kindle, Paperback, and Hardcover
- Kolbe A™ Index
- Traction by Gino Wickman | Kindle, Paperback, and Hardcover
About Matt Ryan
Matt Ryan started Re-viv in 2016, capitalizing on his passion for high-performance construction, community development, and sustainable buildings. The catalyst was a community member in the neighborhood where he bought his first investment property: Ms. Pam. Ms. Pam walked daily to the elementary school where she worked and took the bus to her night shift job to provide for her granddaughter. As Matt grew to understand how more investment and development could change the neighborhood and potentially push out the Ms.Pams of the world, he desired a better balance. In 2015, he moved to San Francisco to base his new endeavor on revitalizing communities through impactful investment real estate strategies. To him, affordable housing that is walkable, bikeable, and close to necessary retail and job centers shouldn't be just for the affluent.
Connect with Matt
- Website: Re-viv
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
In this episode, we'll talk about comprehensive property management software designed to simplify landlords' lives. Join us as Founder and CEO Ryan Barone provides a detailed overview of RentRedi, explaining how it works and why it is the perfect software solution for all your needs. Step right in and discover the benefits!
Topics on Today’s Episode
- The early days of RentRedi
- How RentRedi works and the powerful benefits of utilizing it
- A look into RentRedi’s growth and fund management
- The gratification Ryan feels from helping others with his company
- What does RentRedi’s logo imply
Resources/Links mentioned
- Yardi
- AppFolio
- Zillow
- Trulia
- HotPads
- Realtor.com
- Podio
- The Lean Startup by Eric Ries | Kindle, Paperback, and Hardcover
About Ryan Barone
Ryan is CEO and co-founder of RentRedi, an award-winning powerhouse property management software that transforms how landlords and tenants manage their renting experience. While managing a full-time job and college courses, Ryan began building RentRedi, a modern, end-to-end property management software that helps landlords collect rent online, list and market properties, screen tenants, sign and store leases, and manage maintenance requests. Since then, RentRedi has raised over $17M in total funding. The platform has added more than 20,000 actively subscribed landlords who manage 100,000+ units. Ryan has become a sought-after thought leader in the growing prop-tech space, providing valuable cost-saving advice to landlords and tenants alike. He is a frequent guest on podcasts and at industry events and has been featured in many publications, including Forbes, Inman News, Solutions Review, TheStreet, GoBankingRates, and Family Handyman. He is also a member of the Forbes Technology Council. An avid basketball fan, Ryan also enjoys playing music, cooking, and traveling.
.Connect with Ryan
- Website: RentRedi
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Today's episode features a well-known guest, Rod Khleif, sharing valuable insights on the key factors leading to real estate industry success. We'll discuss the essential values that every successful business leader should embody and how they can use their achievements to help others. Don't miss out on this enlightening journey!
Topics on Today’s Episode
- How mindset and psychology help you in real estate investing
- Important things that make an entrepreneur successful
- A compelling reason to surround yourself with the right influences
- People’s perception of fear, limiting beliefs, and strategies to conquer them
- Ways to use gratitude and service to others for personal growth
Resources/Links mentioned
- The Joe Rogan Experience | Spotify
- Think and Grow Rich by Napoleon Hill | Kindle, Paperback, and Hardcover
Prepare yourself for a remarkable opportunity to elevate your success and broaden your professional connections at Rod's immersive 3-day Multifamily Bootcamp! Taking place from September 15th to 17th, 2023, at the exquisite Doubletree by Hilton Orlando at SeaWorld. Enroll now with a discounted price of $197 when you use the promo code "COREY." Secure your spot by registering here: https://www.multifamilybootcamp.com/september or text “LINKS” to 72345
Get hold of Rod Khleif’s best-selling books and multifamily learning and investing tools by visiting https://rodkhleif.com/courses/
About Rod Khleif
Rod is a multiple business owner and philanthropist passionate about business, high performance, real estate, and giving back. As one of the country's top real estate and peak performance luminaries, he has owned over 2000 properties. He soared from humble beginnings as a young, impoverished Dutch immigrant to incredible success. Rod's experience involves remarkable triumphs and spectacular failures, which he affectionately calls "seminars:' Rod can talk about Real estate, the psychology of success, and any business topic in great depth, contributing incredible first-hand, technical, and motivational knowledge and skills to the conversation. Rod also founded The Tiny Hands Foundation, which has benefited more than 130,000 children in need.
.Connect with Rod
- Website: Rod Khleif
- Podcast: Lifetime Cashflow Through Real Estate Investing
- Facebook: Rod Khleif
- Facebook Group: Multifamily Real Estate Investing - Rod Khleif
- Twitter: @RodKhleif
- LinkedIn: Rod Khleif
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
If you want to live a life of happiness and achieve your long-term financial goals, you'll love this episode! So, hop into this interesting discussion with Spencer Hilligoss, where he delves into the realm of vetted real estate and explains why it's a viable avenue for earning passive income.
Topics on Today’s Episode
- Exceptional advantages of passive investing in the real estate
- The power of mentorship and strategies to effectively leverage it
- Why due diligence and setting financial goals matter in real estate investing
- Ripple effects of sharing investing and entrepreneurial knowledge
- A rewarding method to manage wealth
Resources/Links mentioned
- BiggerPockets Real Estate Investing Forums
- Essentialism by Greg McKeown | Kindle, Paperback, and Hardcover
About Spencer Hilligoss
Spencer Hilligoss is the CEO and Co-Founder of Madison Investing. He is an active syndicator, investor, and speaker. He currently leads business development and investor relations for Madison Investing.
He is a former technology executive with a 13-year track record building high-performing teams across five companies (three of their software "unicorns"- valued at over $1B). His last run in Silicon Valley was developing the Origination Team for LendingHome and leading their Professional Development group.
Spencer is a 2023 Forbes Business Council member and Registered Representative of Finalis Securities LLC, Member FINRA/SIPC.
Connect with Spencer
- Website: Madison Investing
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Don't miss out on this fascinating episode featuring our special guest Taylor Loht, where we delve into the nuances of raising capital in today's market. We'll also explore the advantages of real estate investing and shed light on why apartments and self-storage facilities are exceptional investment prospects. Be sure to tune in!
Topics on Today’s Episode
- Common errors when raising capital and their implications in today’s real estate market
- Acts of dishonesty in property management and how to avoid them
- Ultimate perks of investing in apartments and self-storage facilities
- An approach to effectively monitor and raise capital
- Powerful advice for real estate beginners
Resources/Links mentioned
- Who Not How by Dan Sullivan and Dr. Benjamin Hardy | Kindle, Paperback, and Hardcover
- Traction by Gino Wickman | Kindle, Paperback, and Hardcover
About Taylor Loht
Taylor Loht founded NT Capital, a New York-based syndicated multifamily and self-storage investment firm. In addition, he hosts a real estate podcast called The Passive Wealth Strategy Show, where he teaches busy professionals how to enhance their real estate investing skills.
Connect with Taylor
- Website: NT Capital | Passive Wealth with Real Estate
- Podcast: Passive Wealth Strategy Show
- Email: taylor@ntcapitalgroup.com
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
If you need financial relief to invest in properties despite the high costs, then delve deep into this episode with Erik Oliver as he uncovers the power of cost segregation and how this technique can help you save substantial tax dollars, accelerate depreciation deductions, and boost your investment potential. Hop in to keep more money in your pocket today!
Topics on Today’s Episode
- Cost segregation: What is it, and how it works?
- A comprehensive guide to bonus depreciation on your properties
- Benefits of doing a cost segregation study on your assets
- How to avoid depreciation recapture
- The importance of hiring a tax accountant for your real estate business
Resources/Links mentioned
- IRS
- Tax-Free Wealth by Tom Wheelwright | Kindle and Paperback
Looking for a first-class cost segregation study? Submit the form by visiting https://costsegauthority.com/contact-us/ and get a tax-saving analysis free of charge!
About Erik Oliver
Erik holds a Bachelor of Applied Science in Accounting from Westminster College. Prior to joining Cost Segregation Authority, he was an Operations Manager for a multi-million dollar landscaping and design firm in Long Island, NY. Since heading west and joining Cost Segregation Authority, Erik has been speaking at local, regional, and national events. He brings with him a passion for identifying cost savings and educating commercial real estate owners on the benefits of cost segregation.
Connect with Erik
- Website: Cost Segregation Authority
- Phone Number: (602) 568 - 0032
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
In this week's episode, we will delve into a lucrative investment that not only generates cash flow but also addresses the need for affordable housing. Join us as Andrew Keel shares his insights on how mobile home park investing works and why it presents a compelling opportunity to start investing. Tune in and discover the potential returns it offers!
Topics on Today’s Episode
- What makes mobile home parks a great investment
- The stigma surrounding mobile home park investing
- Pros and cons of investing in mobile home parks
- How does acquiring mobile home parks work?
- Financing options for mobile home parks
Resources/Links mentioned
- Deals on Wheels by Lonnie Scruggs | Paperback
- Leaders Eat Last by Simon Sinek | Kindle, Paperback, and Hardcover
About Andrew Keel
Andrew is the CEO of Keel Team, LLC, a renowned owner of manufactured housing communities recognized as an 'MHU Top 100' company. With over 2,000 lots under management, his team oversees 30+ manufactured housing communities and 11 self-storage facilities across multiple states. The total value of Andrew's commercial real estate assets exceeds $97M. He also hosts The Passive Mobile Home Park Investing Podcast with 150 five-star reviews. Andrew specializes in revitalizing under-managed manufactured housing communities and self-storage facilities to optimize occupancy rates and reduce costs. His expertise includes filling vacant MH lots, implementing self-storage revenue strategies and utility bill-back programs, and improving overall management efficiency. Andrew's hands-on team ensures the successful implementation of their strategies during the initial ownership months.
Connect with Andrew
Website: Keel Team Real Estate Investments
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Join us for this week’s episode where we explore the substantial earning differences between multifamily and single-family properties. We'll also cover the concept of genuine wealth and money, plus leveraging your connections to secure private funding to build a long-lasting legacy of wealth. Stay tuned!
Topics on Today’s Episode
- The difference between being rich and being truly wealthy
- How to break free from the constraints of money
- What is the 6-and-6 method, and it works?
- Why having a well-defined business avatar is crucial
- 2 effective resources for building connections and raising private capital
Resource/Link mentioned
- Edward Jones
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Ready to kickstart your real estate investing career? Look no further as we bring you Rick Gissler to take you on an exciting ride through his first deal and the fundamentals of real estate investing. Stay tuned to learn everything from raising capital to networking and branding now!
Topics on Today’s Episode
- Advantages of having a great investing network
- 3 key adjustments you should look into after your first real estate deal
- Benefits of building good broker relations and ways to capitalize on it
- Useful tips for real estate beginners
- The significance of branding and self-marketing in establishing your real estate business
Resources/Links mentioned
- Giftology by John Ruhlin | Paperback and Hardcover
- Building a StoryBrand by Donald Miller | Paperback and Hardcover
About Rick Gissler
Rick is the founder and CEO of Blue Sky Multifamily Group. As the owner, Rick strives to provide his investors with stable cash flow returns in addition to long-term wealth generation by buying multi-family apartments. With a background as a Medical Research Professional and licensed Skydiver, he has a strong understanding of how to execute structured, creative solutions in a fast-paced environment, and add value to those around him. He feels the most alive and free when he's flying through the sky, and he uses multifamily apartments as a vehicle to help his investors pursue their good fortune & achieve their vision of freedom.
Connect with Rick
- Website: Blue Sky Multifamily Group
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
In this week’s episode, we'll share insider tips on maximizing the potential of your properties near universities and colleges, turning student housing into a goldmine of efficient returns. Plus, we'll reveal how to build a rockstar investing team and lead them with positivity and purpose. Tune in now!
Topics on Today’s Episode
- Why you should invest in student housing today and how to be successful in doing it
- Downsides of investing in student housing properties
- The characteristics that make up a good RE team
- What makes a successful property investment
- Estimated cost and returns of a student housing investment
Are you ready to experience the cash flow life? Just text “BOOK” to (480) 500-1127 to get a FREE copy of Corey’s book, Copy Your Way to Success, and learn how apartment investing can change your life today!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
If you're eager to begin your investment journey but you don't know where and how to start, you have landed on the right episode. Caleb Johnson shares his story of pursuing financial prosperity and escaping the daily grind of a 9-5 job through real estate investing.
Topics on Today’s Episode
- A strategy to help you source off-market properties
- The fulfillment of penciling out your first deal and giving back to your family
- 3 things you should know before starting your real estate journey
- Common real estate mistakes and ways to overcome them
- Benefits of having investing mentors
- Practical advice for real estate beginners
Resources/Links mentioned
- Loop Net
- Crexi
- MLS®
- Discovering the Mind of a Woman by Ken Nair | Kindle and Paperback
- Atomic Habits | Kindle, Paperback, and Hardcover
About Caleb Johnson
Caleb has been an entrepreneur since he was 18 years old. He currently manages several assets, including 30 units in ABQ, New Mexico, acquired in June 2022, 16 units in Oklahoma City, acquired in February 2022, and 40 units in Las Cruces, New Mexico, acquired in July 2022. In addition to this, Caleb holds fractional partnership interest in multifamily and retail properties, such as a 176-unit complex in Casa Grande, Arizona, acquired in October 2021 and a 12,000 sq ft retail space in Casa Grande, Arizona, acquired in December 2021. Caleb founded Red Sea Capital in 2022 and joined NK Development Group in 2021, where he aided in capital and acquisition to grow the company to over 450 units in just two years. Caleb's mission is to be a faith-based professional, committed to his investors, and focused on building strong relationships with all those he works with.
Connect with Caleb
- Website: Red Sea Capital
- Podcast: From Trial to Triumph | Apple Podcast, Buzzsprout, and Spotify
- LinkedIn: Caleb Johnson
Make millions and change your life this year by joining the Kahuna Boardroom this coming April 27th to 29th, 2023, in Scottsdale, AZ. To register, go to kahunaboardroom.com and gain access to multiple tools, resources, and learn trends that'll help you thrive in multifamily apartment investing!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Gain insights into how unwavering perseverance and dedication in life can help you overcome adversity with the power of optimism and data analytics as Thuy Tri shares her real estate journey. Listen and learn from her life-altering experiences to propel your business's growth and achieve success today!
Topics on Today’s Episode
- Adversity and how it can pillar your persistence in deal navigation
- What makes self-storage a recession-resistant asset class
- How to utilize data in executing accurate real estate decision making
- The significance of your network in building operations and closing deals
- Advice and lessons for investors during shifting markets
Resources/Links mentioned
- About Us » Cash Flow Champs
- jonathan wei
- Multifamily Legacy Podcast 181: The Good, Bad And Ugly Of Sierra
- Influence by Robert B. Cialdini | Hardcover
- Lifespan by David A. Sinclair PhD and Matthew D. LaPlante | Kindle, Hardcover, and Paperback
About Thuy Tri
Thuy resides in Charlotte, NC, and is the Founding Partner of Dade Street Capital LLC and passiveinvestorpro.com. Thu has over 21 years of experience as a Corporate America professional and real estate investor. Her experience at Bank of America as a commercial underwriter and financial analyst has helped her in real estate syndication.
Connect with Thuy
- Website: Passive Investor Pro
- Email: thuytri@att.net
Make millions and change your life this year by joining the Kahuna Boardroom this coming April 27th to 29th, 2023, in Scottsdale, AZ. To register, go to kahunaboardroom.com and gain access to multiple tools, resources, and learn trends that'll help you thrive in multifamily apartment investing!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Say goodbye to stale business strategies as Jerome Myers reveals the secrets to quickly accelerating your real estate career in this exciting episode about joint ventures. Tune in and get ready to learn how JVs and partnerships can transform your deal-making game forever!
Topics on Today’s Episode
- How joint ventures work in a business partnership
- Who and why you should find the ideal joint venture partners
- Importance of trust in capital raising and partnerships and how long it takes to build it
- Lessons from Jerome’s most memorable deal
- The fun and fulfilling part of having a real estate career
Resource/Link mentioned
- Sizing People Up by Robin Dreeke and Cameron Stauth | Kindle, Paperback, and Hardcover
About Jerome Myers
Jerome is the preeminent authority of dream realization. A believer that dreams can and should be real, Jerome left corporate America when he realized that his role offered financial gain but little significance. He is the founder and head coach of Myers Methods and has been featured in Business Insider, Black Enterprise, and numerous podcasts. After building a highly profitable division of a Fortune 550 company, he decided to leave the rat race to get away from what seemed to be an endless slew of layoffs. He has developed a system for exiting corporate America and creating a life of impact. Today, he and his company help other apex performers find their calling and live every day on purpose by harnessing the power of his model for a Centered Life, what he calls “the Red Pill”.
Connect with Jerome
- Website: Jerome Myers
- LinkedIn: Jerome Myers
Make millions and change your life this year by joining the Kahuna Boardroom this coming April 27th to 29th, 2023, in Scottsdale, AZ. To register, go to kahunaboardroom.com and gain access to multiple tools, resources, and learn trends that'll help you thrive in multifamily apartment investing!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Locate unbelievable opportunities in an up-and-coming real estate niche with Andrea Foley as she walks us through real estate hotel conversions and their processes. Tap into the potential of this creative and novel approach to building attractive but affordable housing by watching the full episode!
Topics on Today’s Episode
- Hotel conversion: What it means and the factors driving it
- How much does a hotel conversion cost, and what does it rent for?
- The importance of location in marketing your converted hotel
- Ways to fund and acquire your hotel conversion projects
- The power of networking in business and capital-raising
Resources/Links mentioned
- Buy Back Your Time by Dan Martell | Kindle and Hardcover
- Best Ever Conference
About Andrea Foley
Andrea started a business in 2007 with a $2,000 credit card limit. She grew it to half a million annual sales and sold it in 2022. She also worked as a "turn-around" business consultant helping small business owners improve their sales, operations, and finance. Aside from the projects listed here, Andrea and Axel had done single-family flips, renovated residential and commercial buildings, bought and sold a single-family rental portfolio and even "house hacked" before their oldest was born.
Connect with Andrea
- Website: Generational Wealth Capital
- Podcast: Raise Millionaires™
Make millions and change your life this year by joining the Kahuna Boardroom this coming April 27th to 29th, 2023, in Scottsdale, AZ. To register, go to kahunaboardroom.com and gain access to multiple tools, and resources, and learn trends that'll help you thrive in multifamily apartment investing!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Let this episode be your guide to leading your property to maximum profitability as we discuss the parameters of vertical integration and in-house property management. Streamline your operations, take control of your real estate assets, and learn the Kahuna way of managing your business today!
Topics on Today’s Episode
- Vertical integration: What it is and why you should apply it to your business
- The ideal in-house property management team
- How to set and maintain the right company culture
- A way to set expectations for your property managers
- Importance of having effective communication within your team
Resource/Link mentioned
- CEO Only Does Three Things by Trey Taylor | Paperback, Kindle, and Hardcover
As a gift for our podcast listeners, use the promo code “FAMILY” to avail 50% off when you register for the Kahuna Boardroom.
Make millions and change your life this year by joining the Kahuna Boardroom this coming April 27th to 29th, 2023, in Scottsdale, AZ. To register, go to kahunaboardroom.com and gain access to multiple tools, and resources, and learn trends that'll help you thrive in multifamily apartment investing!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
We invited Anthony Faso, CPA, and Cameron Christiansen to the show to discuss a creative way you can build wealth outside of Wall Street. Join us as we elaborate on the Infinite Banking Concept, tax-reduction tips, and practical financial advice to keep your money moving. Be sure not to miss out!
Topics on Today’s Episode
- Why typical financial planning is broken
- An investor’s million-dollar mistake and ways to avoid it
- The Infinite Banking Concept: How and why it works and who its for
- Practical ways to legally minimize your tax liabilities
- Reasons you need to hire proactive accountants
Resources/Links mentioned
- Rich Dad Poor Dad by Robert T. Kiyosaki | Kindle and Paperback
- The Win-Win Wealth Strategy by Tom Wheelwright | Kindle and Hardcover
- Good to Great by Jim Collins | Kindle, Hardcover, and Spiral-bound
- Antifragile by Nassim Nicholas Taleb | Kindle, Paperback, and Hardcover
- Profit First for Real Estate Investing by David Richter | Paperback
- The Richest Man In Babylon by George S Clason | Paperback
Want to learn more about Infinite Banking? Get access to a $500-worth online course for FREE from Infinite Wealth CConsultantsby clicking the link below: www.infinitewealthconsultants.com/multifamilylegacy/.
About Anthony Faso, CPA & Cameron Christiansen
Anthony Faso, CPA, and Cameron Christiansen are founders of Infinite Wealth Consultants and the hosts of the Infinite Wealth Podcast. A proud U.S. Army veteran and self-described "recovering" CPA, Anthony has worked at the world's largest accounting firm and served as CFO of a chain of restaurants. However, after the 2008 recession, he realized that the solution to financial freedom would never be found in the latest Wall Street-created financial product. As he discovered his path to financial independence, he was also teaching and coaching individuals and business owners about money and investing. Having been a small business owner for eight years, Cameron needed help with investment solutions proposed by traditional financial advisors. This frustration is what led him to discover infinite banking and real estate investing. After advising others for over a decade, Cameron now brings his expertise in passive income generation and cash flow analysis to his partnership with Anthony as a follower of the principles of Robert Kiyosaki. Anthony and Cameron help their clients to be financially independent not just in dollars but also in sense. They educate clients on making sound financial decisions and coach them to invest in assets with certainty, control, and collateral. Infinite Wealth clients are not subject to the roller coaster of the stock market.
Connect with Anthony and Cameron
- Website: Infinite Wealth Consultants
- Podcast: Infinite Wealth Podcast | Apple Podcast and Spotify
- YouTube: Infinite Wealth Consultants
Make millions and change your life this year by joining the Kahuna Boardroom this coming April 27th to 29th, 2023, in Scottsdale, AZ. To register, go to kahunaboardroom.com and gain access to multiple tools, and resources, and learn trends that'll help you thrive in multifamily apartment investing!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
If you’re a visionary who’s interested in building your business right, this conversation with Staci Gray can help you create the blueprint to catapult your company to new heights! Keep tuning in to learn ways to focus on your vision, turn it into reality, and resolve operational chaos right now.
Topics on Today’s Episode
- A 3-step process to organize and scale your business
- What makes integrators and visionaries compatible partners?
- Why chaos and crisis are essential phases in business growth
- The great impact of structuring your business correctly
- Importance of external influences on visionary entrepreneurs
Resources/Links mentioned
- The E-Myth Revisited by Michael E. Gerber | Paperback
- A CEO Only Does Three Things by Trey Taylor | Paperback, Hardcover and Kindle
- The Gap and The Gain by Dan Sullivan | Paperback, Hardcover, and Kindle
Do you want a more in-depth view of Staci’s 3-step process of scaling your business? Send an email to scale@organizetoscale.com to access a FREE report and webinar about how you can grow your business quickly.
About Staci Gray
Staci has over two decades of experience organizing real-world businesses to scale. She puts an emphasis on quickly collapsing the gap between ideas and profits by persistently executing for progress and results. She envisions a world where innovative leaders are no longer trapped by operational chaos and instead are empowered to efficiently and effectively solve real-world problems, impact real people on a human level, and generate profits quickly. Staci loves coming alongside mission-driven leaders who are using their ideas, influence, and intellect to build successful businesses and empowering them to scale without losing their sanity, compromising their values, sacrificing their relationships, and drowning in operational chaos.
Connect with Staci
- Website: Organize to Scale
- Email: scale@organizetoscale.com
Make millions and change your life this year by joining the Kahuna Boardroom this coming April 27th to 29th, 2023, in Scottsdale, AZ. To register, go to kahunaboardroom.com and gain access to multiple tools, and resources, and learn trends that'll help you thrive in multifamily apartment investing!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Neal Bawa is back to share his latest multifamily experiment that can help you capitalize on the demand for new properties. Listen until the end to learn plenty of fundraising techniques, data-driven loan approaches, and business scaling tips. Tap in for more of his expert insights!
Topics on Today’s Episode
-
Build-to-rent business model: How it works, ways to scale it, and 2023 market updates
-
Importance of informing investors about cash calls
- Effective ways to do cash calls
- How to take advantage of today’s economic spread
- A powerful tool to streamline your investing process
Resources/Links mentioned
-
Lanar
-
KB Home
- ChatGPT
- Federal Reserve (Fed) Funds Rate
About Neal Bawa
Neal is a technologist who is universally known in real estate circles as the Mad Scientist of Multifamily. Besides being one of the most in-demand speakers in commercial real estate, he is a data guru, a process freak, and an outsourcing expert. Neal serves as CEO at Multifamily University, an apartment investing education company. He is a top-rated, in-demand presenter at conferences and events across the country. His asset management and revenue optimization techniques for multifamily are considered unique in the industry.
Connect with Neal
- Website: Multifamily University | Grocapitus
- LinkedIn: Neal Bawa
Make millions and change your life this year by joining the Kahuna Boardroom this coming April 27th to 29th, 2023, in Scottsdale, AZ. To register, go to kahunaboardroom.com and gain access to multiple tools, and resources, and learn trends that'll help you thrive in multifamily apartment investing!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
In an ever-progressive technological lifestyle era, it is time to rethink how the real estate industry does construction. Explore groundbreaking ideas with Mike Kaeding to learn about next-level housing manufacturing practices you can apply to empower your business. Tune in to know more!
Topics on Today’s Episode
- An innovative idea to reduce construction costs and how it works
- Benefits of low-cost and optimized housing construction
- Why you should hire the best people to work on your properties
- How to leave a legacy using a humanitarian-centered business vision
- Why empowering people enables freedom to progress extensively
Resources/Links mentioned
- No Rules Rules by Reed Hastings and Erin Meyer | Kindle and Paperback
About Mike Kaeding
Mike is a visionary whose optics are in accelerated growth. He is on a mission to dominate the multifamily industry by delivering the best construction cost-to-value in the industry. Thinking outside the box, analyzing data, and innovative ideas are what Mike is all about.
Connect with Mike
- Website: Norhart
- Podcast: Becoming a Unicorn
Make millions and change your life this year by joining the Kahuna Boardroom this coming April 27th to 29th, 2023, in Scottsdale, AZ. To register, go to kahunaboardroom.com and gain access to multiple tools, and resources, and learn trends that'll help you thrive in multifamily apartment investing!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Leverage current rental real estate trends with seasoned investor Jason Baik as he shares his real estate journey, how he utilized his data-analysis skills, and some foolproof underwriting techniques. Tap into this conversation and discover data-gathering techniques for maximum real estate returns!
Topics on Today’s Episode
- Reasons why you shouldn't trust third-party management companies
- Why you need to focus on improving your skills and self-marketing
- Powerful data-entry techniques to streamline your underwriting process
- Efficient steps to cushion your underwriting
- How to keep occupancy rate high during the worst leasing months
Resources/Links mentioned
- Michael Jordan
- The Unfair Advantage by Ash Ali and Hasan Kubba | Kindle and Paperback
About Jason Baik
Jason is the managing principal at Compounding Capital Group and founder of The Underwriting Lab, a platform that helps aspiring multifamily investors learn a data-driven approach to apartment investing. An ex-VP of Data Science, Jason left his six-figure corporate career to become a full-time investor before he owned a single property. Two years later, he has built a portfolio of 350 apartment units and 7 single-family homes.
Connect with Jason
- Website: Compounding Capital Group | The Underwriting Lab
- LinkedIn: Jason Baik
- Facebook: Jason Baik
Make millions and change your life this year by joining the Kahuna Boardroom this coming April 27th to 29th, 2023, in Scottsdale, AZ. To register, go to kahunaboardroom.com and gain access to multiple tools, and resources, and learn trends that'll help you thrive in multifamily apartment investing!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Gain a fast-growing profit source by learning how to add a unique real estate niche to your investment portfolio with Raymond Heimann. Dial in as we discuss strategies to capitalize on small multifamily properties so you can leverage their competitive edge against larger properties!
Topics on Today’s Episode
- “Mini multifamily” property investing: What it is and how it’s done
- The growth and affordability matrix to look for in a multifamily market
- Effective ways to acquire and market a “mini multifamily” property
- Practical advice to entice investors and fund a “mini multifamily” deal
- Tips and tricks to systematize your business and make it stand out in the industry
Resources/Links mentioned
- Washington by Ron Chernow | Kindle and Paperback
- Grant by Ron Chernow | Kindle and Paperback
- Alexander Hamilton by Ron Chernow | Kindle and Paperback
- Caesar by Adrian Goldsworthy | Kindle and Paperback
About Ray Heimann
Ray is a private equity professional with deep experience in acquisitions strategy, deal structuring, and portfolio management. He began his career in JP Morgan’s Corporate and Investment Banking team, focusing on US REITs. He then moved to Booz & Company’s corporate and acquisitions strategy desk, where he advised on over $3.5B of corporate M&A. After that, he joined Sverica Capital, a lower middle market private equity firm focused on driving value through deal sourcing and acquisitions, where he closed on over $750M of acquisitions. With a B.A. in Mathematics and Philosophy from Columbia University and 10+ years in real estate, private equity, and investment banking, Ray is thrilled to be leveraging his background for Terra Capital’s investors.
Connect with Ray
- Website: Terra Capital
- LinkedIn: Ray Heimann | Terra Capital
- BiggerPockets: Terra Capital
- Email: info@usaterra.com
Make millions and change your life this year by joining the Kahuna Boardroom this coming April 27th to 29th, 2023, in Scottsdale, AZ. To register, go to kahunaboardroom.com and gain access to multiple tools, resources, and learn trends that'll help you thrive in multifamily apartment investing!
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Start the year right with one of the top thought leaders in the space, Kathy Fettke, as we kickstart this 3-part series about the real estate housing market. In today’s episode, you’ll learn the basics of RE investing, plus ways to locate and close good deals, so stay tuned!
Topics on Today’s Episode
- The inspiration and motivation behind the establishment of Real Wealth Network
- How and why you need to start investing in conservative deals as a rookie investor
- An expert’s analysis and advice for the pre and post-pandemic real estate market
- Methods to locate lucrative real estate investment opportunities
- Success-driven suggestions and predictions for real estate investors in 2023
- Actionable tips to prepare for a possible economic downturn
Resources/Links mentioned
- BiggerPockets
- The Wise Investor by Rich Fettke | Hardcover and Kindle
- Retire Rich with Rentals by Kathy Fettke | Paperback
- Real Estate by the Numbers by J Scott and Dave Meyer | Paperback and Kindle
About Kathy Fettke
Kathy is the CEO and co-founder of Real Wealth Network. Kathy and her husband, Rich, started their journey when they began having financial challenges, and she stepped out on faith to find the extra income they needed so they could keep their home. She specializes in teaching people how to build multi-million dollar real estate portfolios through creative finance and planning. She is passionate about researching and sharing the most important information about real estate, market cycles, and the economy. Author of the #1 best-seller, Retire Rich with Rentals, she is a frequent guest expert on such media as CNN, CNBC, Fox News, NPR, and CBS MarketWatch.
Connect with Kathy
- Website: Kathy Fettke
- Podcast: The Real Wealth Show
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Dedicate time, effort, and commitment to developing meaningful relationships in the real estate investing space in today’s episode with Jason Lee. Dial in to understand skillful ways to communicate and negotiate with brokers and potential business partners to elevate your business to new heights!
Topics on Today’s Episode
- How to find and attract the right real estate sellers
- Tips for building good relationships with brokers every investor should know
- Importance of hiring good onsite managers for your rental properties
- A beginner investors guide to earning significant cash flow
- Advantages of investing in multifamily as a real estate broker
- Key tips aspiring investors should know about investing in today’s market
Resources/Links mentioned
- Kahuna Investments
- How to Win Friends & Influence People by Dale Carnegie | Hardcover and Paperback
About Jason Lee
Jason is a highly recognized real estate broker in the multifamily real estate industry. He has worked with several eight to ten-figure real estate investors in San Diego County, helping them acquire, dispose of, and 1031 exchange to improve their portfolio. In the last couple of years, Jason has represented over 100 investors and closed over $250,000,000 worth of real estate.
His transactions and insights have been shared in the San Diego Business Journal and CoStar. He also currently owns and operates a $40,000,000 portfolio comprising over 85 units in San Diego County himself so that he can offer advice from a broker's standpoint and from an investor's point of view.
Connect with Jason
- Website: JLM Real Estate
- LinkedIn: Jason Lee
- Instagram: @jasonjosephlee
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Stop expecting the worst-case scenarios when starting your real estate business with Jason Yarusi’s practical advice and strategies that can help you take the leap toward success. Listen until the end of the podcast to gain new heights for you and your business today.
Topics on Today’s Episode
- Proven strategies to find deals and raise capital for your deals
- The importance of having a decisive plan for your business
- Advantages of partnering with investors with varying skills than yours
- Tips CEOs must know to keep a team thriving
- Success-oriented advice all investors should know about
- What operators need to know about taking over a property
Resource/Link mentioned
- How to Think Like a Roman Emperor by Donald J. Robertson | Paperback and Hardcover
About Jason Yarusi
Jason is an active real estate syndicator and investor. Together with his wife, Pili, he is the founding and managing member of Yarusi Holdings, a multifamily investment firm that has acquired over 1900 units valued at $180 million since 2016. The firm repositions properties through operational efficiencies, moderate to extensive renovations, and complete rebranding. He also hosts The Multifamily Live Podcast, a podcast that provides actionable content and tools to build and strengthen your multifamily business.
Connect with Jason
- Website: Yarusi Holdings
- Podcast: Multifamily Live
- LinkedIn: Yarusi Holdings
- Instagram: @yarusiholdings
- Facebook: Yarusi Holdings LLC
- Twitter: @JasonYarusi
- Email: jason@yarusiholdings.com
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
From having necessary lifestyle downgrades to developing real estate analytical techniques as a general partner for maximum returns, we’re going to explore the pros and cons of syndication and multifamily real estate investing with Justin Dixon. Catch him in today’s episode as he talks about all these and more!
Topics on Today’s Episode
- Benefits of having a supportive spouse as a start-up entrepreneur
- Why you should master the basics of underwriting
- How to efficiently leverage your network to raise capital for deals
- Creative ways to locate investors and market deals
- Multifamily real estate market predictions for 2023
Resources/Links mentioned
- Rich Dad Poor Dad by Robert T. Kiyosaki
- BiggerPockets
- Vivid Vision by Cameron Herold | Kindle and Paperback
The KAHUNA BOARDROOM IS NOW OPEN! Join us to create a legacy of time, freedom, and wealth this February 16th - 18th, 2023, at Embassy Suites by Hilton Scottsdale Resort.
About Justin Dixon
Justin grew up in a tiny town in central Pennsylvania, and after graduating from college, he found himself working in the recruiting industry, which he has remained in for the last 16+ years. In January 2020, he left a very stable, six-figure salaried job to start his own recruiting firm and a real estate investing business – not great timing to create a recruiting company in 2020 when the world shut down with Covid, and no one was hiring. But over the last 3 years, he has grown his recruiting business to a sustainable level and acquired over 650 multifamily units as a general partner across 4 states. He is passionate about helping those working W2 jobs, who thought real estate investing was only for the ultra-wealthy or for people with a lot of extra time on their hands, get access to this amazing asset class.
Connect with Justin
- Website: Great Venture Capital
- LinkedIn: Justin Dixon
- Instagram: @greatventurecapital
- Email: justin@greatventurecapital.com
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Accelerate your ability to raise capital in this episode with Dan Handford as he shares his expert tips on attracting potential investors and business partners. Press play to access essential information that’ll improve your capital-raising superpower and take your business to the next level today!
Topics on Today’s Episode
- Pros and cons of institutional investing
- The process of capital raising using the “investor triad”
- Strategies to help you raise higher capital for deals
- Advantages of getting referrals
- Significance of teaching your children about financial literacy
Resource/Link mentioned
- Influence by Robert B. Cialdini PhD
About Dan Handford
Dan is the founder of Multifamily Investor Nation and co-host of the Tough Decisions for Entrepreneurs podcast. From starting his own web development company to patenting a product to becoming a doctor and opening a chain of orthopedic clinics, Dan has an extensive successful background in starting multiple seven-figure businesses from scratch. His family of companies has annual budgets of over $10 million.
Connect with Dan
- Website: PassiveInvesting.com
- Podcast: Tough Decisions for Entrepreneurs
- Webinar: Multifamily Investor Nation
- LinkedIn: Dan Handford
Discover Ava Benesocky and August Biniaz’s secrets to investing in the United States as international real estate investors by tuning in to today’s episode. Listen as we chat about unique investing structures and marketing platforms to help you gain maximized returns when you invest in foreign markets!
Topics on Today’s Episode
- What you need to know to invest in the US real estate market as a Canadian
- Apartment syndication: What it is and how it works for Canadian investors
- Efficient ways to find and reach your target market
- The benefits of forming connections with other investors
- Powerful advice for aspiring real estate syndicators
Resources/Links mentioned
- Clubhouse
- Rich Dad Poor Dad by Robert Kiyosaki
- TokenFunder
- Best Ever Apartment Syndication Book by Joe Fairless | Kindle and Paperback
- The Checklist Manifesto by Atul Gawande | Paperback and Hardcover
About Ava Benesocky and August Biniaz
Ava started her real estate career nine years ago in Alberta. Daughter of highly educated accountant parents, she was taught the quality of hard work from a young age. Building strong community connections, networking with real estate professionals, and constantly pursuing knowledge in the real estate field has given Ava the experience needed to succeed, and she became one of the youngest award-winning top agents at REMAX.
August’s real estate journey began as an agent in British Columbia, where he focused on local market trends and understanding his client base in order to better meet their needs. After numerous projects, he realized his interest in the construction industry and started his own development company, where he built custom homes. He educates his investor partners about apartment syndication investing through the Canadian Passive Investing Academy platform, webinars, meetup groups, and one-on-one coaching.
Connect with Ava and August
- Website: CPI Capital
- YouTube: REAL ESTATE INVESTING DEMYSTIFIED
- LinkedIn: Ava Benesocky | August Biniaz
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Be ready to take your business to the next level with game-changing advice about adapting entrepreneur mindsets, developing business relationships, plus strategies to help your business thrive in 2023. So tune in and empower your mind for greater financial success today!
Topics on Today’s Episode
- How and why you need to adopt a CEO mindset
- Relationship capital: What it is, its advantages, and ways to build it
- Why it’s important to master the business you’re in
- The power of surrounding yourself with the right people
Resource/Link mentioned
- A CEO Only Does Three Things by Trey Taylor | Paperback and Kindle
Quote
- Success is about failing forward
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Starting your business can be one of the hardest steps to reaching your goals, so we invited Rama Krishna Chunchu to today’s show to help ignite your passion for the real estate investing space. Listen in as he details how he efficiently closed his first multifamily deal and how you can do the same!
Topics on Today’s Episode
- Benefits of having credible referrals for property renovation
- How to build strong relationships with brokers
- Who are the people you need in your team and why
- Practical property management tips to help you save money
- Why you should structure deals with realistic returns
Resources/Links mentioned
- Vivid Vision by Cameron Herold | Kindle and Paperback
- Never Split the Difference by Chris Voss and Tahl Rahz | Kindle and Paperback
Join Rama in the Multifamily AP360 Virtual Summit 2023, happening on February 17-19, 2023. Register now at https://multifamilyap360.com/.
Join Corey’s Kahuna Boardroom this 16th - 18th of February, 2023, and set yourself up for real estate multifamily investing success. Visit https://kahunaboardroom.com/boardroom47114633 to reserve your seat now!
About Rama Krishna Chunchu
Rama is the founder of Usha Investment Group LLC. He has a degree in Mechanical Engineering from Osmania University and has been investing in real estate since 2015. With more than 15 years of experience as an IT professional, he brings his experience in analyzing markets, underwriting deals, raising capital, and asset management. Rama found his passion for multifamily apartments and is an active and passive investor in multi-family apartment syndications. He is the author of the book “Creating Wealth through Passive Apartment Investing” and the host of the MULTIFAMILY AP360 podcast and virtual conference, which aims to educate passive and active multifamily investors on how to achieve financial freedom and build long-term wealth.
Connect with Rama
- Website: Usha Investment Group LLC
- Podcast: MULTIFAMILY AP360
- Email: info@ushacapital.com
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Today, Paul Winterowd will address the housing demand during this economic cycle and how it benefits rental real estate owners and operators. Stay connected to learn how to profit from this inflated market!
Topics on Today’s Episode
- General partnership vs. limited partnership
- The decline of purchasing power in an inflated market
- Interest rate history and what it tells us
- Indicators of a market shift favoring buyers
- Implications of inflation on deal acquisitions and lender appetite
- The typical mortgage broker model
Resource/Link mentioned
- Becoming Supernatural by Dr. Joe Dispenza | Kindle, Paperback and Hardcover
About Paul Winterowd
Paul is both an expert debt provider and an active multi-family practitioner with real world experience investing in multifamily assets both as a general and limited partner. Because of this experience on the investment side of the business, he has deep insight and empathy for his clients’ needs as he helps them navigate through the financing process. Paul has successfully sourced financing across the country for market rate and affordable apartment buildings, student housing, and seniors housing projects. Funding sources include HUD/FHA, Fannie Mae, Freddie Mac, Insurance Companies, CMBS, private capital and bank/credit union lenders. Paul is a CCIM (Certified Commercial Investment Member) and has achieved the Mortgage Bankers Association “AMP” (Accredited Mortgage Professional) status. Paul has been a featured guest on several real estate investing podcasts including “The Real Estate Guys” and is frequently asked to share best practices with multifamily investors in various Real Estate Investor Associations and networking meetups. He has been published in the Rental Housing Journal and has authored dozens of articles to help investors improve their knowledge or financing multifamily assets. Prior to joining StackSource, Paul was a part of the Bonneville Multifamily Capital team. His tenure at Bonneville enabled his passion for the multifamily industry to grow and expand. He majored in Economics at The University of Utah and received his MBA from Brigham Young University with an emphasis in Finance.
Connect with Paul
- Website: StackSource
- LinkedIn: Paul Winterowd
- Email: paul.winterowd@stacksource.com
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Learn a plethora of information about the affordable housing market from how others dislike it to how it can be a highly rewarding investment from Jason Stubblefield. You'll also see how this works and the compassion that goes into working on this asset type. Stay tuned because this could be your next venture!
Topics on Today’s Episode
- The stigma surrounding the affordable housing space
- Process of acquiring affordable housing
- How to leverage a compliance-free property as an owner
- Why is it necessary to screen potential tenants?
- Tips for investing in affordable housing and capital-raising myths
Resources/Links mentioned
- Kahuna Boardroom
- Veterans Affairs Supportive Housing
- The Science of Getting Rich by Wallace D. Wattles Kindle | Paperback
About Jason Stubblefield
Jason has been investing in real estate for over 10 years. He started with single-family homes and has since moved into the multifamily real estate space. He scaled his portfolio to over 1000 multifamily units in just a few years. Jason grew up in a lower-class family and was always mindful of the tenants that he served. That concern led him to transition his company into the affordable housing space. His company is now devoted to helping solve the affordable housing crisis while maintaining strong returns for his company and his investors. Prior to becoming a full-time multifamily entrepreneur, Jason spent over 11 years of experience in software development and has a Bachelor of Science degree in Computer Science from the University of Memphis. He is also a United States Marine Corps veteran.
Connect with Jason
- Website: S&S Capital Partners
- LinkedIn: Jason Stubblefield
- Facebook: The Multifamily Code
- Youtube: Jason Stubblefield
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Real estate is a joint effort of business-minded individuals who share the goal of passive earning, but what if a presumed trustworthy individual distorts this vision? Listen here to learn how Corey Peterson forewarned himself about such double-dealings against his business interests and how you may set your standard for trusting others!
Topics on Today’s Episode
- Why is it risky to rely on people's words?
- How to spot someone who is hiding something?
- Criteria of a trustworthy leader
- Tips when dealing with people with attitude
- The responsibilities of a property manager
Resource/Link mentioned
- Kahuna Boardroom
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
Is it possible to acquire real estate without going to a bank? Chris Prefontaine responds to this concern by detailing the benefits of the owner financing approach based on his considerable experience with principal-only insurance. Listen in and get that financial issue out of the way!
Topics on Today’s Episode
- Owner financing strategy: structures & markets
- The WHY’s of owner financing strategy
- The downsides of the banking system
- Implications of the current market condition for owner financing strategy
- 3 must-do steps for business novice
Resources/Links mentioned
- Vanderbilt: The Rise and Fall of an American Dynasty by Anderson Cooper Paperback | Hardcover
- PropStream
- FreedomSoft
- Melissa Data Corp
- Flip This House
- Shoe Dog: A Memoir by the Creator of Nike by Phil Knight Paperback | Hardcover
- Wicked Smart Books
- The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage by Daymond John Paperback | Hardcover
- Real Estate on Your Terms by Chris Prefontaine Kindle | Hardcover
- The New Rules of Real Estate Investing by Chris Prefontaine Kindle | Paperback
- Real Estate Investing for Women by Moneeka Sawyer Kindle | Paperback
About Chris Prefontaine
Chris Prefontaine is a 3-time best-selling author of Real Estate on Your Terms, The New Rules of Real Estate Investing, and Moneeka Sawyer’s Real Estate Investing for Women. He’s also the Founder and CEO of SmartRealEstateCoach.com and host of the Smart Real Estate Coach Podcast. Chris has been in real estate for almost 30 years. His experience ranges from constructing new homes in the ‘90s and owning a Realty Executive Franchise to running his own investments (commercial & residential) and coaching clients throughout North America. Today, Chris runs his own buying and selling businesses with his family team, which purchases 2-5 properties monthly, so they’re in the trenches every single week. They also help their Associates and students do the exact same thing all across North America, working together on another 10-15 properties every month. Having been through several real estate cycles, Chris understands the challenges of this business and helps students navigate.
Connect with us
- Website: Smart Real Estate Coach
- Email: support@smartrealestatecoach.com
- Podcast: Smart Real Estate Coach
- Youtube: Smart Real Estate Coach
- Facebook: Smart Real Estate Coach
- Instagram: @smartrealestatecoach
- Contact Number: (855) 667-7336 x 805
If you're getting money from a lender, you'll find today's episode incredibly useful as we talk about the lender draws, potential problems you can meet when making draw requests, and how to avoid them. So pay attention and prevent messy property repair blunders with whichever deal you complete.
Topics on Today’s Episode
- Lender draw: 3 rules to follow when performing one
- Questions to ask before agreeing to a construction loan
- The importance of keeping a record of your expenses
- Why you should bring property management in-house
Resource/Link mentioned
- Kahuna Boardroom
Quotes
- “ It’s usually at the property level where you start having disconnects. ”
- “Sometimes, a medium-sized lender is worth its weight in gold.”
- “The more we communicate, the more efficient we are.”
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
In our inflationary economy, the need for low-cost housing has never been higher, but how do you leverage the affordable housing trend? Prabin Dutta has all answers for you in this insightful episode on REI. Get ahead and be the winner in today’s market with this emerging trend!
Topics on Today’s Episode
- Mobile home park myths and why they are incorrect
- Powerful advantages of investing in mobile home park
- Investing in mobile home parks: cap rates, upfront costs, and profitability
- 4 profitable turnaround project strategies
- Why are mobile home parks easier to manage?
Resources/Links mentioned
- CIMLS
- Mobile Home Park Store
- 1031 Commercial Properties
- CoStar
- Frank Rolfe
About Prabin Dutta
Prabin Dutta is a Certified Mobile Home Community Manager with over 15 years of experience in managing, supervising, administrating, and directing the entire operation of commercial, residential, and land properties, including finance management, insurance, leasing, tenant, acquisitions, insurance, sales, renovation, maintenance, and physical condition inspection. He has the keen ability to assess deals quickly, cut through the hype, measure upside vs. downside risk, and make sound decisions. Over the last 12 years, he has owned and operated Single Family, Multifamily, and Mobile Home Parks in five states.
Connect with Prabin
- Company: Cosmonet LLC
- Number: (804) 550-6892
- Email: psdutta@hotmail.com
Quotes
- “We do not manage the homes, we are managing lots.” - Prabin Dutta
- “I personally feel that this is one of the best real estate portfolios that someone can have.” - Prabin Dutta
- “We will make sure that we win by turning out property: making profits.” - Prabin Dutta
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard, please leave a review on iTunes.
As an investor, you've most likely disregarded the idea of working with a mortgage broker. Today's episode talks with Aaron Moll about the benefits of having brokers on your team and why transactions go more smoothly with them. Stay tuned to find out more about how to hire great team members and how to put together your dream team for business success.
Topics on Today’s Episode
- The impact of inflation on real estate market trends in 2022
- Why is student housing a wise investment?
- Debunking broker myths and why having one is practical
- The value of trust and teamwork in closing deals
- What drives lenders to switch from floating to fixed interest rates?
Resources/Links mentioned
- Chatham
- SOFR Curve
About Aaron Moll
Aaron is a mortgage banker in the Detroit office specializing in mortgage origination throughout the United States. Aaron has experience in commercial real estate finance for over ten years, and he has closed over $1 billion in transactions during that time. Throughout his career, he has worked with numerous investors, from private family offices to larger institutional firms. Aaron has a thorough understanding of life company loan programs and relationships as a former Berkadia life company correspondent. He has closed deals through all major asset classes in the United States, focusing on student housing. He works for Berkadia's Student Housing Team as a product specialist in the mortgage banking platform.
Connect with Aaron
- Website: Berkadia
- Phone number: (231) 360-1840
Quotes
- “When an owner gets involved in any transaction, it’s usually not as good, as if someone else was doing it.” - Corey Peterson
- “Every lender is different, but I honestly feel you're going to have a better result with someone advocating on your behalf.” - Aaron Moll
- “If you surround yourself with great people, great things happen.” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
For today’s episode, we share the benefits of joining a mastermind group, what to expect, and which groups to join. Learn and understand the perks of collaborating with other like-minded people and what you are most passionate about by tuning in to this episode. Experience the power of masterminds now!
Topics on Today’s Episode
- What can mastermind groups do for your multifamily investing career?
- Is it better to do deals or form partnerships?
- Can mastermind groups help you meet possible business contacts?
- Why participating in a mastermind group can help you stay on top of your game
- How a mastermind group fosters a successful entrepreneur community
Resources/Links mentioned
- Investor Fuel
- To join the Investor Fuel Cash Flow Group text FUEL to 480-500-1127
Quotes
- “Surrounding yourself with people that will level you up is a game-changer.”
- “You bring people in deals and you do deals together, but that doesn’t mean you use the same people to do a deal every time.”
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Do you want to grow your wealth faster? Worry no more, as today's guest, Alex May, will reveal the secret to reaching your financial goals more quickly. Stay up to date on the possibilities to invest as a passive owner in income-producing and appreciating multifamily assets.
Topics on Today’s Episode
- What should you do when you find a good deal, but lack the necessary tools?
- Methods to determine your capital base before making a deal
- Developing a strategy to help investors reach their financial goals faster
- Why is it beneficial to grow your business?
- Practical advice for first-time real estate investors
Resources/Links mentioned
- Rich Dad Poor Dad | Paperback and Kindle
- How to Own Your Mind | Paperback and Hardcover
- Think and Grow Rich | Paperback, and Hardcover
- The Men Who Built America
About Alex May
Alex May is co-founder of Regency Investment Group and has 15 years of multifamily investment experience. His background is in Aerospace Engineering, where he held critical roles in spacecraft design, operations, and engineering management. He lives and invests in Colorado with his wife, Sarah. Together they are growing their investing business and strive to provide exceptional communication and financial returns to their investors and have a total investment portfolio of over 2000 units across the United States.
Connect with Alex May
- Website: Regency Investment Group
Quote
- “We need to be a team and support each other and be more successful as a team than we can by ourselves.” - Alex May
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Investors are concerned about their expected returns in every transaction, but what if there's a method to maintain a regular cash flow without being concerned? Ryan Webster and Warren Dresner discuss ways to earn passive income from high-quality real estate. Stay connected for additional real estate wealth-building strategies and information!
Topics on Today’s Episode
- Helpful tips to select the best asset in your target markets
- How to meet underwriting and asset management goals effectively?
- What is a perfect real estate deal?
- Factors that contribute to syndication success
- Pros and cons of institutional equity investment
Resources/Links mentioned
- Slippery Rock University
- Oakwood Apartments
- The Creature from Jekyll Island| Paperback and Kindle
- Big Debt Crises| Paperback and Kindle
About Ryan Webster and Warren Dresner
Ryan is an award-winning home builder, experienced real estate professional, and entrepreneur. He has over a decade of experience owning and operating a Midwest-based construction and development company. He also has a wide range of project experience managing new construction, and value-add multifamily projects.
Warren has over 20 years of experience in finance, insurance, and real estate in the USA, UK, and Australia. He is investing in both Single-Family Homes and Multifamily Apartments and is currently invested in over 2,000 units across the South-East and Midwest.
They are the founders of Equity Yield Group, a real estate investment firm sourced, qualified, and managed by an experienced team that specializes in institutional-grade multifamily assets and great markets, focusing on capital preservation while striving to return strong, risk-adjusted returns for investors.
Connect with Ryan and Warren
- Website: EquityYieldGroup.com
- Facebook: Equity Yield Group
- YouTube: Equity Yield Group
- LinkedIn: Equity Yield Group
Quotes
- “At the end of the day, the best person to execute the business plan is the people that wrote the business plan.” - Ryan Webster
- “Deeper pockets make ships sail.” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
If you're looking to offer your companies a competitive edge, this episode is an episode you don't want to miss! As a business owner, leadership is one of the most challenging roles that you have to fill. Today, Corey Peterson elaborates on the importance of having a positive work culture, how to create it, and what it can contribute to your business.
Topics on Today’s Episode
- How to set the tone in the workplace
- Why trust matters at work
- The importance of leading by example
- How to enhance motivation and the importance of it
- Winning strategies to maximize the value of your property
Resources/Links mentioned
- Text FUEL to 405001127 to get the link to converse with our mastermind group
- Asset Living
Quotes
- “Leadership starts from the top, and it goes all the way down.”
- “Leadership is what can make or break your business.”
- “You get a lot more out of honey than you do out of piss and vinegar.”
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Success is rarely easy; it takes a lot of hard work and tried-and-true tactics. Dive in as Sterling Chapman outlines the strategy for attracting passive and active investors and concepts to cut good deals. Don't miss this episode on identifying the ideal group of partners that brings massive success to your business.
Topics on Today’s Episode
- Steps to raise capital for your business
- Why partnership is key to becoming a strong capital raiser
- Inspiring children to learn about investing in real estate at an early age
- Best strategies to attract more capital investors
- How to gain control of your investment through brand and capital building
Resources/Links mentioned
- Rich Dad Poor Dad⏐Paperback, Audiobook
- Best Ever Apartment Syndication Book⏐ Paperback, Audiobook
- The Rent Roll Radio Show
- Am I being too subtle?⏐ Hardcover, Audiobook
About Sterling Chapman
Sterling Chapman is in Baton Rouge, Louisiana. He sits as a Regional Sales Director at a world-leading Telco Company, President of Crestworth Capital, and The Rent Roll Radio Show host. Mr.Chapman holds a B.S. in Finance from Louisiana State University and a Master of Business Administration from LSU Shreveport. His current real estate holdings include nearly $21.5 Million of Assets under Management, $7 Million of that being his personal portfolio of 70+ rental units in South Louisiana that cash flow over $120K a year. While single-handedly building this portfolio over the last 3 years, he has also interviewed over 120 successful real estate investors on his podcast, which has been downloaded nearly 16,000 times.
Connect with Sterling
- Website: Crest Worth Capital
- Facebook: Sterling Chapman
- Instagram: Sterling Chapman REI
- Podcast: The Rent Roll Radio Show
- Email: Sterling@crestworthcapital.com
Quotes
- “ Thousands of people are looking for money, and I find that it’s better to go in there saying: I am the money. ” - Corey Peterson
- “ There’s so much money everywhere that having good funnels and follow-up systems is paramount to any capital-raising process. ”- Sterling Chapman
- “ Be easy to do business with and make people want to keep doing business with you. That's what makes you a great business person. ” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Do you have a positive business culture? Corey Peterson speaks on the importance of culture in any business, how to develop it, and how to effectively instill it in your team. This episode is what every aspiring entrepreneur should listen to, so dive in!
Topics on Today’s Episode
- What business culture is really about
- Tips to creating a meaningful business name
- How to define a company’s mission?
- Guide to choosing the right core values
- Examples of business beatitudes
Resources/Links mentioned
- A CEO Only Does Three Things by Trey Taylor | Paperback & Audible
- Best Ever Apartment Syndication Book by Joe Fairless | Paperback & Audible
- Rich Dad Poor Dad by Robert Kiyosaki | Paperback & Audible
Quotes
- " Two things I think we most want and covet are time and money, both of these things together. " - Corey Peterson
- " I find that the more we reinforce what we’re doing and why it means something, people wanna be a part of something that’s bigger than money. " - Corey Peterson
- " We do not only need to do good for the people we serve. If we’re not doing it for our staff and the people that work for us, we are doing it wrong. " - Corey Peterson
- " We are not always perfect. We still make mistakes. Every company does, but we clean them up. We get better. " - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
After working in the oil and gas industry for over 15 years, Christy Keeton's powerful and inspiring transition to multifamily investing has been a rewarding experience. Tune in as she discusses her journey and backstory in real estate and how she has benefited from learning, focusing, and being determined to pursue building her life in real estate.
Topics on Today’s Episode
- Why invest in yourself
- The significance of being focused and determined in your goals.
- Tips for newbies: When and how to use Loopnet the right way
- Off-Market Transactions: Risks and Opportunities
- The benefits of an extensive relationship with investors in raising capital and finding deals
Resources/Links mentioned
- Meetup
- LoopNet.com
- Best Ever Apartment Syndication Book by Joe Fairless Audiobook and Hardcover
- Rich Dad Poor Dad by Robert Kiyosaki Audiobook and Hardcover
About Christy Keeton
As an Engineering Technician in the oil industry, Christy’s expertise was to analyze multi-million dollar acquisitions and build annual budgets. She opened Keeton Realty Investments in 2012 to flip houses. In 2019, focus transferred from single-family to multi-family. In 2021, she sourced and closed over $35 million in Multifamily space. She chose real estate for freedom, to rescue children from trafficking, teach single parents to be financially free, and build a legacy
Connect with Christy Keeton
- Website: Keeton Realty Investments
Quotes
- “There is such a release that happens when you work and you get to the place of peace.” - Christy Keeton
- 33:36 “ Stay focused on your legacy, stay focused on your future, and don’t give up. ” - Christy Keeton
- 33:48 “If you don’t give up you will see the price.” - Christy
- 34:05 “Success doesn’t happen by chance. People go out and take it.” -Corey
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Mike Deaton and his partner were once caught up in the rat race, attempting to strike a work-life balance. Life presented them with an alternative path, and they chose Multifamily real estate as their guide. Tune in to find out about their incredible journey!
Topics on Today’s Episode
- Entrepreneurship vs. Investing
- Process of passive investing system
- Raising money for land business
- How to get started in multifamily?
- Cultivating relationships to get more exposure
Resources/Links mentioned
- Rich Dad Poor Dad by Robert Kiyosaki Audiobook and Hardcover
- Investors Tool Kit
- Tax-free Wealth by Tom Wheelwright Audiobook and Hardcover
- Kahuna Investments
- Best Ever Apartment Syndication Book by Joe Fairless Audiobook and Hardcover
- Raising Capital For Real Estate by Hunter Thompson Audiobook and Hardcover
- Mindset by Carol Dweck Audiobook and Hardcover
- Personal Development Tony Robbins
- Meditations by Marcus Aurelius Audiobook and Hardcover
- A CEO Only Does Three Things by Trey Taylor Audiobook and Hardcover
- https://deatonequitypartners.com/freedom
About Mike Deaton
Mike Deaton and his wife, Ligia, escaped corporate life and entered the real estate market together in 2016. They went full-time in 2017, formally launched their real estate investing business, and have incorporated multiple asset classes to combine tremendous cash-flowing financial returns with incredible tax benefits. They are currently active land investors as well as partners in more than 1,176 units of multifamily assets across multiple markets in the US. As real estate entrepreneurs, they love enjoying ultimate lifestyle freedom while delivering on their mission in making significant impacts to both investors and the communities in which they partner with the ultimate goal of returning over one billion dollars in investment returns.
Connect with Mike Deaton
- Website: Deaton Equity Partners
Quotes
- “ I hate the word “fail” because you know it’s never a failure. You try something and if it doesn’t work, it's “feedback”. ” - Mike Deaton
- “ Step forward in your life and look back on it.” - Mike Deaton
- “ A lot of times, success happens not to the stronger or faster man, but to the one who thinks he can.” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
You will undoubtedly succeed if you are willing to pivot from another path. Jeff McKee is here with us to share his inspiring story of the transition from single-family to multifamily syndication and what you should do to excel in this type of real estate asset.
Topics on Today’s Episode
- Multifamily deals from the Limited Partners’ side
- The power of partnerships
- How to communicate in different syndications?
- Benefits of using SyndicationPro
- The incredible things to look out for in multifamily syndication
Resources/Links mentioned
- SyndicationPro
- Kahuna Boardroom
- Rich Dad Poor Dad
- Cashflow Quadrant
- Tax-free Wealth by Tom Wheelwright
- Who Not How
About Jeff McKee
Jeff McKee is a General and Limited Partner on 15 Class B and C multi-family apartment communities, 4000+ apartment units/doors with $200M+ Assets Under Management (AUM) across 10 cities/MSAs and 7 states in the South and Southeast of the United States. Out of these 15 syndications, he is a General Partner in 10 of these assets, 2,500+ apartment units, and Key Principal/Guarantor on 4 assets, including Fannie Mae, Freddie Mac non-recourse debt, in less than 18 months with support from mentors, partnering, and networking. Jeff is qualified as an accredited and sophisticated investor.
Connect with Jeff McKee
- Website: McKee Capital Group
- Email: jeff@mckeecapitalgroup.com
Quotes
- “We have more money than time other people may have more time than money.” Jeff McKee
- “As long as everybody is communicating correctly on what their job is and responsibilities are.” Corey Peterson
- “That’s the gift that keeps giving.” Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
In this last series of the Radford deal, you'll learn some fascinating facts about how a new investor enters the market and raises capital. Dive into Matt and Tina's work and lessons learned upon closing the deal.
Topics on Today’s Episode
- An experiment with locating investors
- What it's like to face challenges and overcome them
- Results of overcoming the objections
- The aftermath of the successful raise
- Takeaways from the Radford closing deal
Resources/Links mentioned
- Kahuna Boardroom
- Fanatical Prospecting by Jeb Blount Audiobook & Hardcover
- The Road Less Stupid by Keith J. Cunningham Audiobook & Hardcover
- A CEO Does Only Three Things By Trey Taylor Audiobook & Hardcover
About Matt Hodkiewicz and Tina Palma
Matt and Tina started investing in real estate in 2015 with the end goal to have a passive income fund their lives. They built a business renovating houses and started by buying a local portfolio of single-family and duplex properties, but in 2019 transitioned to focus on multifamily investing. Their primary businesses are flipping houses and purchasing rental properties. Today, they own 548 doors in 7 states and have new big goals to achieve!
Quotes
- “ We’re never happy with the speed of implementation until we take time to kind of reflect back on where and how we got here. ” - Matt Hodkiewicz
- “It feels so good to be scared again.” - Tina Palma
- “The most important part is you’ve enjoyed the journey. ” - Corey Peterson
- “Just learn to live in fear.” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Have you tried a few different methods to track your finances, but haven’t discovered the one that works best for you? Listen to this 2nd part series of the Greenhill Apartments where we talk more about how we faced the challenges encountered, the systems that we use, and the best way to keep track of your finances. Topics on Today’s Episode * The biggest hurdle of the Radford deal * Apps and tools utilized when tracking deals * Important tips on how to communicate with investors * Unique features of ActiveCampaign * A creative way to inform investors about the whereabouts of their funds.
Resources/Links mentioned
- Kahuna Boardroom
- 195: How Deals Work: Greenhill Apartments at Radford (Part 1 of 3)
- ActiveCampaign
- Keap
- Investor Management Solutions
- Pipedrive CRM
- Zoom
Quote
- “Be always curious to see what works for you.” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Every property has flaws, but how you deal with them and flip the tables to your advantage is what matters. Corey tells the account of how he encountered the good, the bad, and the ugly while working on a deal in Radford, Virginia. Tune in to learn more!
Topics on Today’s Episode
- What should be improved on the property?
- Setting up the formation of the deal
- Timetable for a standard type of contract
- Encountering problems with titles, raising capital, and deals
- The benefits of having strong legal counsel and the right team in place
Resources/Links mentioned
- 182: The Value Of Having Strong Legal Counsel
- 135: The Importance Of Having A Trusted Mortgage Banking Ally
Quotes
-
“Always thank and take care of the people that take care of you.” - Corey Peterson
-
“ You just have to share how you operate. ” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
If you’re confused about how to manage opportunity costs, this is the right one for you. I am going to provide an outline of what will happen in the future and to the economy. This episode will help you understand that every deal has an opportunity cost.
Topics on Today’s Episode
- What is the Opportunity Cost?
- The importance of negotiating deals
- Understanding Cap rates
- Facing the rise of interest rates
- Why you must exercise caution with underwriting pertaining to rates
Resource/Link mentioned
- 3-Day Intensive Event Kahunaboardroom.com
Quote
- “ Get better at negotiating the kind of structures and the deals that you want and they’ll come to find you.” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
In this episode, Corey makes an overview of all of his deals in 2021 and shares what the next year is going to be like for Kahuna Wealth Builders. If you’re ready to start your entrepreneurial journey or take your business to the next level, stay tuned ‘cause this episode is full of inspiration!
Topics on Today’s Episode
- One phrase you need to tell yourself
- The challenges of running multiple businesses
- The importance of having a primary focus
- 2 things you need to achieve your goals
- Why you need to keep looking forward
Resources/Links mentioned
- Discover How To Create Legacy Wealth And CashFlow Without The Hustle-N-Grind
- 179: The Good, Bad And Ugly Of Sierra Point (Part 1 of 3)
- 180: The Good, Bad And Ugly Of Sierra Point (Part 2 of 3)
- 181: The Good, Bad And Ugly Of Sierra Point (Part 3 of 3)
- 186: Why Real Estate Investing Is A Team Effort (Part 1 of 3)
- 187: Teamwork Makes The Dream Work (Part 2 of 3)
- 188: It’s All About Strategic Partnerships (Part 3 of 3)
- InvestorFuel CashFlow
- Carolina Creek Apartments
Quote * “We're more powerful when we're flawed.” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes
There is no overnight success in the real estate industry. It all boils down to how hard you work, how dedicated you are, and the passion that drives you to move forward. In this episode, Sean Thomson shares the highlights of the journey on closing the very first big deal and all the challenges that come with it.
Topics on Today’s Episode
- Hard work and persistence in creating the deal machine
- Developing the brand strength with one common mission
- Confronting your fears to guide you towards success
- The importance of building relationships and networking to get financed
- Actual details about what went wrong and right in finding the big deal
Resources/Links mentioned
- Fearvana by Akshay Nanavati
- The Obstacle Is The Way Book by Ryan Holiday
- Who Not How Book
About Sean Thomson
Over the last decade, Sean has been perfecting his processes of scouting, acquiring, and investing in real estate. He loves to find and encourage fellow investors, so he founded Thomson Multi-Family Group to allow interested, accredited, and sophisticated investors to partake in the investment opportunities that he develops throughout the country. Sean’s investing success and skills help him in supporting his family, community, and investors through proven real estate investing strategies. Thomson Multi-Family Group is a family business that is dedicated to building wealth for investors so that they can support their families, provide opportunities to their community, and achieve their version of their Next Level American Dream
Connect with Sean
- Website: www.thomsonmultifamilygroup.com
Quotes
- “ Having strong partners, having the capital ready to go, having a team around you that is substantial and connected and does a good job. That’s very critical in winning deals. ” - Sean Thomson
- “ Closing is only part of the sequence and then running them is the real journey that makes you the money. ” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
In this episode, Jason Fort talks about how Asset Living's work culture has helped the growth of the company and the importance of being passionate about what you do. Join us today to learn the type of people you need in your company and how to retain your best employees.
Topics on Today’s Episode
- How to develop an efficient work culture
- The key to identifying the right career for you
- Why you shouldn't look for money-driven people
- What it takes to have a successful career in real estate
- The importance of sharing your knowledge with your employees
Resource/Link mentioned
- Jocko Podcast
About Jason Fort
Jason Fort is Executive Vice President at Asset Living. He is responsible for leading the Asset Living business development department. In his 17-year Asset Living career, he has been responsible for supervising multiple portfolios of student housing and multi-family properties nationwide and also overseeing our new development lease-up team, along with the training department. Jason’s 28 years of experience in student housing and multi-family provides a wealth of knowledge and in-depth, hands-on experience with full-service dormitories and high and mid-rise mixed-use properties, including new developments.
Connect with Jason
- Website: www.assetliving.com
- Facebook: Asset Living
- Instagram: @assetliving
- LinkedIn: Asset Living
- Twitter: @Asset_Living
Quotes
- ‘’The people component is the hardest part of any organization. ’’ - Corey Peterson
- ‘’With our systems, training, and policies, we give any person that works for us an opportunity to succeed. ’’ - Jason Fort
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Today we're gonna talk about one of the asset classes we're most passionate about; student housing. Stay tuned as Stacey Lecocke shares how the lease-up period works and the many benefits of investing in student apartments.
Topics on Today’s Episode
- Why it's necessary to provide an environment that supports a good learning experience
- Why rules are important in the student apartments
- When does the leasing season start and Why?
- The coolest part about investing in student housing
- The impact of Covid-19 in the student housing industry
Resource/Link mentioned
- The Culture Code by Daniel Coyle
About Stacey Lecocke
Stacey is the Vice-President of Asset Living, a Houston-based real estate management firm. Stacey is responsible for the entire campus housing division of the company. Utilizing her experience and expertise across all class types, her goals include providing mentorship and support to the management team and ensuring communities operate with a competitive advantage.
Connect with Stacey
- Website: www.assetliving.com
- Facebook: Asset Living
- Instagram: @assetliving
- LinkedIn: Asset Living
- Twitter: @Asset_Living
Quotes
- ‘’I love the intensity of student housing. I always feel like I have the wind behind my back pushing me forward, rather than on my face. ’’ - Stacey Lecocke
- ‘’I love student housing, 80% of my portfolio is in that niche. ’’ - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
In this episode, Saad Arij shares how Asset Living's innovative system allows them to solve tomorrow's problems while successfully managing their team. Stay tuned to learn how to spot the red flags of your employees beforehand and the importance of training your executive team members first.
Topics on Today’s Episode
- 4.34 Impact of Covid-19 on business operations
- 12.08 What a successful onboarding process looks like
- 17.07 The importance of having standard procedures in place
- 25.23 Why you need to have strong on-site leaders
- 34.05 Customer service vs. customer experience
Resources/Links mentioned
- 39.45 The GaryVee Audio Experience
About Saad Arij
Saad Arij is the Vicepresident of the Campus Team at Asset Living. He is responsible for leading the regional leasing and training directors in company-wide training initiatives. His role specializes in training, leasing, and marketing strategies for Asset Living’s student housing business. He has worked in the student housing industry for 10 years, gaining experience and expertise in creating strategic leasing and marketing plans, analyzing market trends, and developing and training team members at all levels. At Asset Living, his goals include ensuring properties exceed budgeted occupancy, leading markets in leasing success, and identifying opportunities and strategies to overcome difficult market conditions.
Connect with Saad
- Website: www.assetliving.com
- LinkedIn: Saad Arij
- Facebook: Asset Living
- Instagram: @assetliving
- Twitter: @Asset_Living
Quotes
- “ You don’t have to reinvent the wheel, but you can improve upon it. ” - Corey Peterson
- “If your employees don't take their job seriously, they won't be able to produce quality work for your clients, your residents and all future prospects. ” - Saad Arij
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes
Today we brought the third piece of the Warner Robins puzzle: The Capital Raiser. Check out this episode with Marck de Lautour to learn the benefits of building strategic partnerships and why you should look for value-add deals.
Topics on Today’s Episode
- Qualities you should look for in a partner
- The key to creating a collaborative partnership
- What it takes to raise $5.6M in 30 days
- Two factors that make a deal a good opportunity
- How to create wealth through real estate
Resources/Links mentioned
- The Collective Mastermind
- Own your freedom by David Phelps
- The road less stupid by Keith J. Cunningham
- Rich dad poor dad by Robert T. Kiyosaki
About Marck de Lautour
Marck de Lautour is the CEO of SBD Housing Solutions, Kansas City’s largest full-service, turnkey real estate investment firm, and parent company to Best Offer KC and Silver Fern Properties. His team has flipped over 1100 homes in the KC metro since our inception in 2002. They purchase and remodel homes directly, saving time and costs while ensuring their expectations. Once their homes are move-in-ready their property management team takes over to alleviate the burden of overseeing tenants, allowing their investors to relax while building wealth through real estate holdings that will last beyond a lifetime. Leading with Core Values of Professionalism, Quality, Accountability, and Communication, SBD Housing Solutions has become America's leading provider of turnkey real estate.
Connect with Marck
- Website: www.sbdhousing.com
- LinkedIn: Marck de Lautour
Quotes
- “When everybody understands their role and performs at a very high level in a partnership, that's when the magic happens. ” - Corey Peterson
- “You don't get rich from what you earn, you get rich from what you own. ” - Marck de Lautour
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes
For the 2nd part of the Warner Robins Portfolio series, we brought Shawn Winslow for you who will be sharing his transition from finances to multifamily investing, and how he used his skills to find this incredible deal. Stay tuned to learn why partnerships are critical in the real estate world, and how to make brokers trust you.
Topics on Today’s Episode
- How the rich create their wealth
- The step-by-step process to getting your first deal
- The importance of asking and listening to what the seller wants
- Why you need to improve the exterior of your properties
- The impact of real estate investing on people's lives
Resources/Links mentioned
- Copy your way to success by Corey Peterson
- Am I being too subtle? By Sam Zell
- Extreme Ownership by Jocko Willink and Leif Babin
- The dichotomy of leadership by Jocko Willink and Leif Babin
- The cycle of the gift by Susan E. Massenzio, Keith Withaker, and James E. Hughes Jr.
About Shawn Winslow
Shawn Winslow is the founder and Managing Partner of Greenbriar Capital Group. He has an aptitude for investing in multifamily apartments, providing his clients with significant passive income and generational wealth creation. His passion is helping his investors achieve financial freedom by reducing their dependency on conventional income and investments such as stocks, bonds, and mutual funds so they can pursue their own dreams. In addition to pursuing attractive risk-adjusted returns for his investors, Shawn strives to enhance the life of every tenant, team member, and individual that comes into contact with Greenbriar and its partners.
Connect with Shawn
- Website: www.greenbriarcg.com
- Instagram: @shawnowins
- Facebook: Shawn Winslow
- LinkedIn: Shawn Winslow
- YouTube: Shawn Winslow
- Podcast: Multifamily Money Podcast
- E-mail: shawn@greenbriarcg.com
Quotes
- “Real estate is about building relationships and continuing to foster them because they will always keep feeding you. ” - Shawn Winslow
- “Putting a deal together is rarely a single-person game. Usually, multiple people get together and bring their skills to the game. ” - Corey Peterson
Text the word DEALS to 415-528-7403 if you're interested in learning more about Shawn Winslow's method for finding deals.
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes
To start our 3-part series of the Warner Robins Portfolio, Corey shares how he found and funded his latest deal and analyzes the high-level numbers of the transaction. Dive into this episode to learn how tenants behave when rent increases and why it's more convenient to get financing from a bank versus a private lender.
Topics on Today’s Episode
- How are deals put together?
- Identifying the opportunities of a deal
- Why do you need maintenance personnel on your properties?
- The impact of property improvements in operational efficiency
- How to adjust your rent increases and expenses?
Quote
- ‘’The more that you can charge, the better the collections are. ’’ - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes
Are you tired of wearing all the hats in your business? It's time to grow your company! Dive into this episode as Corey shares the importance of being a visionary to scale your business and what to look for in an asset manager and a COO.
Topics on Today’s Episode
- Does it take a big team to invest in multifamily?
- The benefits of hiring a virtual assistant
- Why you should look for a seasoned asset manager
- How real estate companies afford their staff
- Growing a business with partners vs. employees
Quotes
- ‘’Kahuna Investments’ mission is to partner with passive investors to create award-winning apartment communities that families love to call home. ’’ - Corey Peterson
- ‘’People are one of our core values. Not only the people that we serve, the investors, the apartment communities, but also our staff. ’’ - Corey Peterson
To get the book ‘’Copy Your Way To Success’’, text the word BOOK to 480 500-1127, and we’ll send you a copy for FREE.
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
If you’re buying and holding properties, but not using cost segregation, you’re really missing out. In this episode, Joseph Viery explains the tax strategy that every successful real estate investor is using. Dial-in and learn the correct way NOT to pay taxes.
Topics on Today’s Episode
- What does cost segregation mean?
- Property owners who should do a cost segregation
- How much you'll pay for depreciation recapture if you do cost segregation?
- What you should be looking for in a cost segregation company?
- Cases where cost segregation isn't useful
About Joseph Viery
Joseph Viery is the Principal at US Tax Advisors Group, Inc (USTAGI). As a Cost Segregation Professional, he has helped property owners defer or eliminate millions of dollars in income taxes by leveraging IRS compliant cost segregation studies. Since becoming a CSP in 2008, Joseph has performed thousands of Cost Segregation studies for clients in various industries ranging from $500,000,000 commercial properties to $50,000 single-family residences. He has also been able to bridge the gap for the independent residential real estate investor by providing an affordable modeling approach.
Connect with Joseph
- Website: www.ustaginc.com
Quotes
- ‘’In real estate, you can make a lot of money, and pay no taxes if you do it right. ’’ - Corey Peterson
- ‘’We don't care what your building is worth, we care about what you paid for it. ’’ - Joseph Viery
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Today, Robert Syfert is going to talk about the most critical element of success in real estate: mindset and focus. Pay attention to this episode because it's filled with words of wisdom on how to unlock your greatest ability to propel your business to the next level.
Topics on Today’s Episode
- The first action step to becoming successful
- Taking a break and reflecting on your journey
- Why you need to follow up on your leads
- Things you should and shouldn't focus on
- Is money the ultimate goal of the journey?
Resources/Links mentioned
- Rich Dad Poor Dad Seminar
- Who Not How by Dan Sullivan
- The Magic by Rhonda Byrne
- The Secret by Rhonda Byrne
About Robert Syfert
Robert is a Business Expansion Specialist with efficient business-building solutions for high-level entrepreneurs and investors (primarily in the real estate sector) who want to live a healthier and wealthier lifestyle. With well over a decade of experience in the industry, Robert has sold and managed hundreds of investment properties and is passionate about providing solutions through software, tools, and services that maximize both your time and profits when it comes to investing in real estate. Robert is also a loving husband and father who believes that every person can achieve success and financial freedom with the right systems and processes at their disposal.
Connect with Robert
- Website: www.realestateinvestor.com; www.robertsyfert.com
- Facebook: Robert Syfert
- LinkedIn: Robert Syfert
- Instagram: @robertsyfert
Quotes
- ‘’You're one relationship away from everything you ever wanted in your life. ’’ - Robert Syfert
- ‘’Your journey is the reward. ’’ - Corey Peterson
Text the word BOOK to 480-500-1127 and get the book Copy Your Way To Success for FREE.
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
One of the most common mistakes new investors make is going through contracts and negotiations themselves. Check out this episode with Wayne Segal and learn the importance of having legal representation to identify and understand the most critical parts of your paperwork.
Topics on Today’s Episode
- Is all legal advice the same?
- Why you should have a lawyer check your term sheet before signing?
- How a lawyer can help you with negotiations?
- Where to find good legal counsel?
- Most common mistakes new investors make
About Wayne Segal
Wayne Segal is a Member and Manager of Dawda Mann. His practice is concentrated in the areas of banking and real estate law. Wayne has extensive experience representing banks in investment, acquisition, development, and construction financing of shopping centers, office buildings, industrial buildings, and other commercial and residential properties. In addition, he has substantial experience in middle-market loan transactions as well as commercial and real estate workouts and restructures. Wayne represents local, regional, and national builders and developers in single-family and multi-family residential projects. He also has considerable experience representing retail, office, and commercial developers in acquisitions, financing, construction, development, and leasing transactions.
Connect with Wayne Segal
- Website: www.dawdamann.com
Quotes
- ‘’There is a right lawyer for every transaction. ’’ -Wayne Segal
- ‘’The devil is always in the details. ’’ -Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
In our third part of the Sierra Point series, we brought Waleska Iglesias and Scott Dilley, who will be sharing how they found the deal despite how close they were to losing it. Listen in to learn the importance of keeping a good relationship with your broker and the key to raising $1.5M on your first try.
Topics on Today’s Episode
- The power of relationship building
- What do brokers really care about?
- The key to raising $1.5M of private capital
- Putting a deal together despite all odds
- How much you'll learn from your first deal
Resource/Link mentioned
- MEB Management Services
About Waleska Iglesias
Waleska Iglesias, Principal Broker and Owner of XA Realty Group, has been in the Real Estate Industry for the past 15 years. She joined the Real Estate profession right before the recession, and in the 2007 recession she knew she had to change her strategy to make it in the business, so she started to do short sales in Salt Lake City as well as in Denver, Colorado. Waleska has extensive experience with negotiating short sales, probates, traditional real estate negotiations, wholesaling, flips, and creative financing. She has also been involved with buying and selling performing and non-performing notes. She has a portfolio of rentals and knows property management.
About Scott Dilley
Scott Dilley is the principal broker of Blue Diamond Realty. Born in Australia, Scott moved to the United States in 1991. After 5 years in the auto industry, Scott quit his job in 2006 to pursue real estate investing full time. Since 2006 Scott has been involved with various strategies in real estate, including the art of the short sale, wholesale, defaulted mortgages, creative financing, has fixed and flipped in multiple states, and owns and manages rental properties.
Connect with Waleska
- E-mail: waleska.iglesias@gmail.com
Quotes
- ‘’Your first deal is always the hardest, but once you do it, it gets you in the game. ’’ - Waleska Iglesias
- ‘’Don't be a deal killer, be a deal maker. ’’ - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
No matter how many deals you've done, there will always be things that could go wrong. Listen to this episode to learn all the complications developed with Sierra Point Apartments and find out how multifamily deals actually come together despite the odds.
Topics on Today’s Episode
- The process that follows after getting under contract
- What is delinquency? How can it affect your deals?
- Why you should include a 30-day extension in your contract
- Qualities that set great property managers and lawyers apart
Quote
‘’Brokers have a short memory. All they remember is that you got under contract, you closed and you have to pay. ’’ - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Initially, all deals make sense, but after closing, things can start going sideways. In this first part of the Sierra Point series, Corey Peterson breaks down the numbers and shares the juicy details of his $7.7M off-market deal. Stay tuned for the next episodes as well, 'cause things are about to get ugly.
Topics on Today’s Episode
- How to find good off-market deals
- Is it a good idea to invest in properties in bad conditions?
- Type of deals you should look for
- Is it a good time to buy properties?
- The advantages of rebranding and rehabbing investment properties
Quote
- ‘’Your mind can give you everything you’ve ever wanted. ’’ - Corey Peterson
Text the word FUEL to 480-500-1127 to set up a quick call with us and find out more about our mastermind group dedicated to apartment investing.
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
No matter where you're located, there is no excuse for not investing in real estate. In this episode, Rafi Mizrahi shares how he started doing multifamily syndication all the way from Israel, as well as the challenges he faced along the road. Join us today and be inspired to pursue your dreams with relentless passion.
Topics on Today’s Episode
- The right mindset to get started in real estate
- What makes multi-family so attractive?
- Tips for getting your own first deal
- How to manage your working capital properly?
- Creating a wealth of knowledge
Resource/Book mentioned
- Rich dad poor dad by Robert T. Kiyosaki
About Rafi Mizrahi
Rafi Mizrahi has been an out-of-state real estate investor since 2010. Rafi developed a skill set to overcome the distance. He has extensive experience in raising money from out-of-state investors, building and managing professional teams all over the country, property valuation, negotiating, and acquisition. Rafi started as a single-family home investor in 2010 and since then, he was involved in more than 300 transactions as the Acquisition partner and as the raising capital partner. In 2017, he shifted the focus to Multi-Family and syndicated 766 units worth more than 50 million dollars.
Connect with Rafi
- Website: www.proudcommunities.com
Quotes
- ‘’Be like water. Water always finds a way to pass the wall.’’ -Rafi Mizrahi
- ‘’When there’s a will, there is a way.’’ -Corey Peterson
Connect with Us!
Text the word BOOK to 408-500-1127 to get my free book which talks everything about real estate.
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
Raising money is a big part of putting together a multifamily deal. However, this subject is not talked about enough. Join us today to learn Dave Dubeau's easy-to-follow 5 step guide to raising capital, and find out the Do's and Dont's of marketing.
Topics on Today’s Episode
- Most common mistakes when raising capital
- Why you should have a target group of investors
- How to raise money from people you know
- Tips for marketing your real estate business
- The importance of getting testimonials and referrals
Resources/Links/Books mentioned
- Money partner formula by Dave Dubeau
About Dave Dubeau
Dave Dubeau helps real estate entrepreneurs to scale their portfolios by attracting investors/partners and their capital instead of chasing after it. He created the Money Partner Formula process that raises 6-figures (or more) in 6-weeks (or less) by getting the right investors to come to you. Dave is the CEO and founder of Results Enterprises Inc. / The Money Partner Formula which offers a proven strategy to help clients find their ideal investors and quickly raise the capital they need to grow their real estate portfolios fast. He is also a passive investor, best-selling author, and sought-after speaker.
Connect with Dave
- Website: www.moneypartnerformula.com
Quotes
- ‘’A constant communication is the key to marketing.’’ - Dave Dubeau
- ‘’The more you teach, the better student you become. ’’ - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
Shawn Johnson’s 40 unit deal didn’t go as planned. Check out this episode and learn why you need to do your physical and financial due diligence and get some golden nuggets that will save you a lot of headaches and money.
Topics on Today’s Episode
- How to handle troubling sellers?
- What you need to check on your due diligence
- Tips to negotiate with a re-trade
- Why you should always request a T12
- How the due diligence process works
- What you can gain from making mistakes
Resources/Links/Books mentioned
- The road less stupid by Keith J. Cunningham
- Business made simple by Donald Miller
About Shawn Johnson
Shawn Johnson is the CEO at Home Vault, a property management company, as well as a single-family and multifamily real estate investor.
Connect with Shawn
- Website: www.homevault.com
- E-mail: shawn@homevault.com
Quotes
- ‘’Be clear on your expectations or they’ll walk over you.’’ -Shawn Johnson
- ‘’Painful experiences are a sign of growth.’’ -Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
If you look at successful people, they all have the same things in common. Listen in with Steven Pesavento to find out the five principles that those people live by and be inspired to reach your goals.
Topics on Today’s Episode
- Is it necessary to experience single-family before multi-family?
- How you should look at the challenges?
- Is it a good idea to invest in different assets/businesses at the same time?
- The importance of setting a goal and a plan for it
- Why do you need to be clear on what you want?
- Mentors vs. Coaches: Which one can help you and your business?
- The benefits of sharing your knowledge
Books mentioned
- Rich dad poor dad by Robert Kiyosaki
- Cashflow quadrant by Robert Kiyosaki
- The go-giver by Bob Burg and John David Mann
- Never split the difference by Chris Voss with Tahl Raz
- The untethered soul by Michael A. Singer
Resource/Link mentioned
- The Top 5 Lessons Learned From High Performing Real Estate Investors
About Steven Pesavento
Steven is an investor and entrepreneur who’s built an investing business from the ground up. He went from zero to buying and & flipping over $22 million in real estate within his first two years in the business
Connect with Steven
- Podcast: Steven Pesavento's Investor Mindset
- Facebook: Steven Pesavento
- Instagram: @steven.pesavento
- LinkedIn: Steven Pesavento
Quotes
- ‘’Everything is possible, but not everything is really needed’’ -Corey Peterson
- ‘’Set big goals, set big dreams, and then be patient to let that happen’’ -Steven Pesavento
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
Real estate is a mind game. Having a ‘’do whatever it takes’’ mindset is crucial to make your deals work. Let’s get it on and learn how Tate Siemer got into his first deal and find out how he overcame the struggles of raising capital.
Topics on Today’s Episode
- The importance of mindset
- How can a podcast help your business?
- Pros of attending conferences
- What does it take to raise capital and get into syndication?
- Can you improve people's lives by doing real estate?
- Why you should get mentorship and develop personal growth
Books mentioned
- How to make big money with small apartments by Lance A. Edwards
- The untethered soul by Michael A. Singer
About Tate Siemer
Tate Siemer is the visionary behind GreenLight Equity Group. Tate’s passion is improving (value-adding) high-density, multi-family developments and existing apartment buildings in such a way that maximizes the value of communities in order to provide solid, consistent returns to investors and well-being to residents. Tate works with sellers, wholesalers, lenders, money, partners, contractors, and many other contacts to coordinate a robust set of industry relationships. He hosts “The Apartment Guys Podcast” and serves on the Executive Board of the Utah Real Estate Investor Association. He enjoys helping fellow investors and entrepreneurs through mentoring and coaching.
Connect with Tate
- Website: www.investwithgreenlight.com
- Podcast: The Apartment Guys Podcast
Quotes
- ‘’Mindset will make you or break you’’ - Tate Siemer
- ‘’You have to be a good student to be a good teacher’’ - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
In the real estate business, deals go wrong all the time. You have to be prepared to face adversity to come up with a solution. In this episode, Corey shares how a $19M deal went wrong and what mindset helped him handle that situation. Join us today and find out why you need to watch out for lock-up periods.
Topics on Today’s Episode
- What is a lock-up period?
- How to sell a deal with a lock-up period?
- The risks of doing big deals
- Why you need good legal representation
- The importance of mindset
Quote
- ‘’Adversity will come for you, but what you do in those moments will determine who you are as a person and how you will persevere’’ - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
Underwriting requires good attention to detail and the ability to interpret data correctly. But once you get good at it, it's super fun to pick out some of the sweetest deals. Check out this episode with Issac Fleming and find out the most common mistakes people make when underwriting and tips on how to avoid them.
Topics on Today’s Episode
- Color coding your numbers
- Setting a strike price
- Do you cut expenses to make a deal work?
- Increasing rent
- Calculating taxes for your properties
- Setting exit cap rates
- Verifying your numbers
About Isaac Fleming
Isaac Fleming is the Head Underwriter for Kahuna Investments LLC and Kahuna Wealth Builders.
Quote
- ''If you're gonna do better, say you're gonna do worse on paper’’ - Isaac Fleming
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
If you want your real estate journey to be successful, you need to pay attention to this episode since Corey is sharing details of his latest deals and the must-do of syndication. Learn how and why having strong broker relationships can also make your business easier.
Topics on Today’s Episode
- Demonstrating your ability to close deals
- How to find off-market deals
- The importance of being authentic
- The power of podcasting
- How to fund a $17M deal
Quotes
- ''Stop saying I wish, I could have, I should have, just go do it" - Corey Peterson.
- ‘’If you’re authentic you will attract the right people and you will repel the wrong’’ -Corey Peterson
Resource/Link mentioned
- 164: Turning Adversity Into Opportunity
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
Text the word BOOK to 480-500-1127 to get a free copy of ‘’Copy Your Way to Success: Standing on the Shoulders of Giants’’
Not everything is palm trees and sunsets in real estate. Today we are going to talk about the dirt of the business. Listen to this episode as Chad Sutton shares stories about deals that went wrong and the lessons learned from them.
Topics on Today’s Episode
- What big investors care about
- Programming your capital
- Asking for a higher minimum of investment
- Structuring a deal incorrectly
- Understanding where your investors' money comes from
Books mentioned
- Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork
- The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich
About Chad Sutton
Chad works for Quattro Capital, where he spends most of his time working with Brokers and putting deals together in the multifamily space. He leads a team of Alliance Partners with whom he works very closely to coordinate the negotiation, underwriting, due diligence, and debt origination of their acquisition pipeline.
Connect with Chad
- Website: www.thequattroway.com
- Instagram: @thequattroway
Quotes
- ‘’Life happens, timing is everything’’ -Chad Sutton
- ‘’Time heals all as long as you can cash flow" -Chad Sutton
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
The easiest way to make things change in your life is to partner up with someone who's already succeeding and add value to them. Listen in as Samson Jagoras shares the impact that networking and good partnership made in his business, and how he transitioned into living a life by design.
Topics on Today’s Episode
- How to find the right team members
- The importance of setting up the right systems in place
- What good partnership looks like
- Adding value and building connections and bonds
- Living life by design
- Being consistent
Books mentioned
- Traction: Get a Grip on Your Business
- THE AMERICAN JUBILEE
- The Bit Coin Standard: The Decentralized Alternative to Central Banking
About Samson Jagoras
Samson is a commercial real estate broker, VP of Strategic Investments for RE/MAX Commercial Alliance, and the founder of Growth Vue Properties. With over 13 years of experience, he has served as a Futures & Commodities broker, actively invested in real estate, and acted as the Chief Strategy Officer for Madwire, a technology company. He's also the founder of the Passive Power Group where he educates investors on how to invest in passive multifamily real estate.
Connect with Samson
- Website: www.samsonjagoras.com
- Instagram: @samson.jagoras
- Facebook: Samson Jagoras Real Estate
Quotes
- ''Right people on the right seat.'' - Samson Jagoras
- ''Consistency is a superpower.'' - Samson Jagoras
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
Asset management is not talked about enough, but it is actually where a lot of the money is made in this business. On this show, our guest Kyle Mitchell shares strategies, tricks, and tips to make real estate exciting and profitable.
Topics on Today’s Episode
- What is Asset Management and how it works??
- What asset managers do
- Setting up the right systems in place
- Why you should find a property management company in advance
- How to find the best property management firms?
- Raising capital
Books mentioned
- Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
- Rich Dad's CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom
- Shoe Dog: A Memoir by the Creator of Nike
About Kyle Mitchell
Kyle Mitchell is a real estate entrepreneur who has a focus on Multifamily Syndication and currently has $41MM AUM. He is the Managing Partner and Co-Founder of APT Capital Group and the Asset Management Summit, where their mission is to positively impact the lives of their investors and the communities in which they invest through the highest level of transparency and fiduciary responsibility. Kyle is also the co-host of the weekly real estate podcasts, Passive Income through Multifamily Real Estate & Asset Management Mastery, where he speaks with various experts in the real estate industry to help educate and create clarity for passive investors and new operators.
Connect with Kyle
- Website: www.aptcapitalgroup.com
Quotes
- ‘’No one cares more than you’’ - Kyle Mitchell
- ‘’What you track gets paid attention to, what you don’t track, nobody cares’’ - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
Learning how to raise money can allow you to get into other people’s deals, add value, and get general partner ownership. We will get into the details today with our guest, Ike Mutabanna. He explains all aspects of fund structure, including taxes, liability, and third-party property management companies, and investors.
Topics on Today’s Episode
- What is a fund structure and how it works?
- Pros and cons of different fund structures
- How to protect your investors' data
- Fund of funds structure
- Raising funds for multiple properties
Books Mentioned
- The Power of Zero: How to Get to the 0% Tax Bracket and Transform Your Retirement
- Copy Your Way to Success: Standing on the Shoulders of Giants
About Ike Mutabanna
As the founder of WealthChakra, Ike Mutabanna has been helping investors build wealth through large-scale real estate projects. Through his community approach and creative funding structures, investors are able to create their own groups or join trusted groups to benefit from these projects. Ike is a partner in over 3,000 multifamily units in Texas, Florida, and North Carolina. He has also invested in a portfolio of office assets across 8 states, and a variety of specialized development projects in Arizona, Ohio, and Georgia.
Connect with Ike:
- Website: Wealth Chakra
- E-mail: ike@wealthchakra.com
Quotes:
- ‘’Time is more valuable than money.’’ - Corey Peterson
- ‘’Real estate has given me time to spend on the things I really value, which is family’’ - Ike Mutabanna
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
We have Darin Batchelder today who talks about his first steps in real estate and how he overcame the fear. Tune in to learn how important it is to partner up with experienced people and get tips on how to get into the business.
Topics on Today’s Episode
- Darin’s journey from being in a corporate world to multifamily real estate
- Broker connection
- The fundamentals of real estate
- Building relationships with partners
- Understanding the stock market
- How to get into the real estate business
Book Mentioned
- Tools of Titans - Tim Ferriss
About Darin Batchelder
Darin has been in the whole loan trading business for the past 16 years and is responsible for trading over $4 billion in loan sales. He’s the business owner of TZK Capital since 2007. His company focuses on trading high credit quality performing real estate loan portfolios between banks including residential, multifamily, and commercial estate loans.
Connect with Darin
- Website: www.darinbatchelder.com
- Instagram: @batchelderdarin
- Facebook: Darin Batchelder
- YouTube: Darin Batchelder Multifamily Real Estate Investing
Quotes
- ''If you have that in your gut, you have to get past that fear and take that step'' -Darin Batchelder
- ‘’Don’t fall in love with the property, just fall in love with the numbers" -Corey Peterson
- ‘’When it’s scary, that’s when it’s good’’ - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
To be successful in business and life in general, you need to be surrounded by honest and upright A-players. In today’s episode, we will bring you nuggets of wisdom on how loan brokers can help you and what kind of lenders to avoid. Join us and get some interesting insights into the lending business from our guest, Eric Stewart, the owner of Atlantic Business Capital, Inc.
Topics on Today’s Episode
- Understanding the current lending market
- Expectations on rates
- Different types of loans
- Creating a financial picture
- What types of lenders to avoid
- Role of communication
Link/Resource Mentioned
- Blinkist
Book Mentioned
- Never split the difference
About Eric Stewart
Eric Stewart is the owner of Atlantic Business Capital, Inc. a full-service commercial lending advisory & brokerage firm. Eric has been structuring finance solutions for both commercial real estate investors and business owners since 1996 with products ranging from equipment leases to commercial real estate loans as well as assumption representation & consulting. In addition to providing debt & equity solutions to commercial real estate investors, Eric currently holds partnership interest in multifamily assets throughout the Southeast & Midwest.
Connect with Eric
- Phone: 800-916-2005
- Website: Atlantic Business Systems Inc
- E-mail: estewart@atlanticbusinesscapital.com
Quotes
- ‘’It’s all about cash flow’’ - Eric Stewart
- ‘’Every loan is its own unique living thing’’ - Corey Peterson
- “It’s all about long-term relationships” - Eric Stewart
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
Losing is one of the most infuriating feeling in the world and no one wants to lose but it is necessary for learning. Failure is part of the process of success and with the right attitude, losing can be won. Stay glued to this episode and gain some golden nuggets about how to handle this emotional roller coaster and turn failures into an opportunity.
Topics on Today’s Episode:
- What it feels to lose a bid and how Corey handled the situation
- Golden nuggets on the experience
- Proof that losing can be turned into winning in the end
- Handling the loss with the right attitude and a winning mindset
- The beauty of the real estate game
Quotes:
- “Be willing to take the losses so you can have some winners” - Corey Peterson
- “Losing is part of life”- Corey Peterson
- "Have a life that is beyond blessed and measure"- Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
Today's episode is remarkable and one for the books as we are announcing the launch of the Investor Fuel Cashflow Group, which caters to everyone wanting to have a community with like-minded individuals. Either you have just started out investing, or having 100 or a thousand doors we have groups that basically fit everybody, this merger has one goal in mind: to go big and create the best multifamily investor space ever bolted on to the Fuel Family. To know more about Investor Fuel Cashflow Groups, stay glued and listen to this episode.
Topics on Today’s Episode:
- What Investor Fuel Family is NOT
- The two groups in Investor Fuel Cashflow Groups
- An activity that brings both groups together
- The things that Mike love about multifamily investing versus single family
- How to get into the Investor Fuel Cashflow Groups
Links and Resources Mentioned
- Investor Fuel
Join us for our Virtual Apartments to Millions Summit. Text “A2M” to 480-500-1127
Quotes:
- “More opportunities when the group grows” - Mike Hambright
- “Investing, in general, is the best thing since slice bread” - Corey Peterson
- “If you believe it, you can achieve it” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
Sooner or later, we all run out of our own money to invest in real estate deals. We are out there looking at different investment opportunities and finding a gem. This is why having the ability to raise private money for real estate investments is one of the most important skills you can develop as a real estate investor. But the problem is, talking to people about money can be awkward and uncomfortable, and our guest today will help us learn the ropes in raising private capital money.
Matt Faircloth has been a full-time investor for 15 years. At that time, he has successfully completed projects involving dozens of fix and flips, office buildings, single-family homes, and apartment buildings. He has now completed over $60,000,000 in real estate transactions and controls over 1150 units in multi-family.
He is a regular contributor and podcast guest on Bigger Pockets.com, has an active YouTube channel dedicated to educating investors, and the author of the Amazon Best Seller, Raising Private Capital, how to Build your Real Estate Empire with Other People's Money.
To learn more on the basics of raising your first private capital money, listen to this epic podcast.
Topics on Today’s Episode:
- Matt’s background and how he became a real estate investor
- The influence of Matt’s book
- Why continuous learning is important
- Other ways to achieve wealth
- The importance of sticking to a plan
- How to raise private capital?
- The importance of avoiding real estate jargons
- How COVID-19 surprised everyone in the real estate industry
- Matt’s success story even during COVID
- How cash management works
- Matt’s nitty-gritty dirt story
- Advice to anyone new in the business
Join us for our Virtual Apartments to Millions Summit. Text “A2M” to 480-500-1127
Books mentioned:
- Rich Dad, Poor Dad - Robert Kiyosaki
- Raising Private Capital - Matt Faircloth
- Can’t Hurt Me - David Goggins
- Blinkist app
Quotes:
- “Not all money is the same” - Matt Faircloth
- “Dragon lady was real” - Corey Peterson
- “I always put money way above me” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
Life is not a race as they say. Some people found their success in their 30’s, 40’s, 50’s, 60’s and some even in the late stages of their life. But only a chosen few are the exception to the rule. One of them is our guest who is out there raising multi-millions of dollars in his early 20’s.
Kyle Marcotte is a 22-year-old multifamily syndicator. While Kyle was still a premed student and Division 1 Soccer player at UC Davis, he was able to syndicate two multifamily apartment buildings. These two deals totaled 119 units and are valued at over 5.5 million dollars. Today Kyle focuses on 100+ unit multifamily deals in the Austin market.
Be inspired and be motivated by Kyle and find out what it really takes to become successful and attain financial freedom at a young age.
Topics on Today’s Episode:
- Kyle’s background and how after reading a book pointed him into investing
- Dropping out of med school
- How Kyle made the jump from med school to real estate
- Things learned while working in a senior living facility
- Learning more stuff about real estate by reading several books
- Persevering through multiple rejections
- How to build the confidence to get up on stage?
- What Kyle brings when talking to people
- Kyle’s confidence level after raising his first private money
- Dreams and goals
- A Few tips to those who decide to stay in school
- A piece of advice to the listeners
Links and Resources Mentioned
- www.kylemarcotte.com
- Own Your Time Podcast on Apple Podcasts
Join us for our Virtual Apartments to Millions Summit. Text “A2M” to 480-500-1127
Books mentioned:
- Rich Dad, Poor Dad - Robert Kiyosaki
- The Compound Effect - Darren Hardy
Quotes:
- “If I make more, I’m gonna be taxed more” - Kyle Marcotte
- “To get where you wanna go, you’ve got to do things most people are never willing to do” - Corey Peterson
- “There’s nothing like stupid money” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
Asset management refers to the management of investments on behalf of others. The process essentially has a dual mandate - appreciation of a client's asset over time while mitigating risk.
Coming in hot is our guest, Karen Oeser. She has been doing multi-million dollar portfolio management for over 25 years. Prior to launching East Light Investments, she managed over $150 million in fixed income assets for Hart Capital Management, Inc. while also juggling the role of Chief Compliance Officer. As a serial entrepreneur, Karen has launched and successfully sold several communications businesses, including a boutique investor relations company, Ripple Effect Communications, which continues to thrive as a full-service public relations firm. She later headed Ashton Partners’ east coast practice, where she was responsible for developing new business and providing strategic counsel to investor relations clients.
Stick around until the end of the podcast to learn more about asset management and how the investment money game works.
Topics on Today’s Episode:
- Karen’s background and backstory
- Learning and understanding Alternative Investment
- Exploring corporate bonds
- Stock market vs Multifamily properties
- The fixed-income investor
- Single-family vs Multifamily real estate investment
- encouraging younger generations to be financially literate
- Karen’s Mastermind program for women
Links and Resources Mentioned
- East Light Investments – Specializing in Multifamily in the Carolinas
- Financial Literacy for Her - Home
- https://www.finliteracyforher.com/
- Financial Literacy for Her's (@finliteracyforher
- https://www.linkedin.com/company/financial-literacy-for-her/
- Phone number: 8645511820
Join us for our Virtual Apartments to Millions Summit. Text “A2M” to 480-500-1127
Books mentioned:
- Rich Dad, Poor Dad - Robert Kiyosake
Quotes:
- “Fundamentals exited the stage, left a long time ago in the stock market” - Karen Oeser
- “I love how you’re setting this up because that is the cat’s meow, right?” - Corey Peterson
- “What’s your why?” - Karen Oeser
- “A rising tide lifts all boats” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Joining us in our episode is the amazing Paul Moore. Paul’s got a really interesting story. He did a little stint at Ford Motor Company and co-founded a staffing firm where he was a finalist for the Michigan Entrepreneur of the Year two years straight. After selling the staffing firm to a publicly-traded company, he began investing in real estate.
He is currently a co-host of two highly recommended podcasts, namely, How to Lose Money and The Art of Investing, and a contributor to Fox Business and BiggerPockets. Paul is also the Managing Director of three commercial real estate funds at Wellings Capital.
Stay glued to this show as Paul Moore shares his money-game story and he will give us clues on where to find the money and give us more ideas about Mobile Home Parks.
Topics on Today’s Episode:
- Mobile home parks: Is it the way to “Nirvana”
- How to get in and improve mobile home parks
- How Paul sees the future with regards to multifamily and mobile home parks
- The demographics in the mobile home parks
- How to add value to mobile home parks
Links and Resources Mentioned
- www.Wellingscapital.com
- How To Lose Money – Failure for the most part is predictable, and anything that is predictable is generally avoidable.
- Kahuna Boardroom
- Join Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Join us for our Virtual Apartments to Millions Summit. Text “A2M” to 480-500-1127
Books mentioned:
. The Perfect Investment: Create Enduring Wealth from the Historic Shift to Multifamily Housing - Paul Moore
Quotes:
“To get success, you gotta fail a lot” - Corey Peterson
“Build your ideal life as you go, not when you get there” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
The year 2020, for most people, was probably the worst year we have ever experienced. Businesses across different sectors are greatly affected and a lot of jobs or income was lost. But there is a light at the end of the tunnel. Vaccines are now rolling out and businesses are slowly and surely opening up. In our episode today, we are going to talk about how to bounce back in 2021.
Joining us in today’s episode is David Lindhal. Dave is the Founder and CEO of RE Mentor. Starting with very little money and a desire to change his and his family's lives for the better, Dave began his real estate investing journey. Fast forward to almost twenty years, and Dave has bought and sold over 8,200 real estate units from foreclosures, short sales, wholesale deals, lease options, and rehabs with single family, multi-family, and commercial properties. In an effort to help anyone who has an interest in changing their lives through real estate, Dave created RE Mentor.
Listen to this episode in its entirety to learn what’s going on in the real estate market and discover how we are going to be successful in 2021.
Topics on Today’s Episode:
- David recalls the time when Corey flew all the way from Phoenix to Boston just to have lunch
- How good things come when you feed your mind with positivity
- How to win the market this year?
- Different opportunities this time of COVID
- David talks about micro repositioning
- Advice to aspiring multi-family investors
Links and Resources Mentioned
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
- Multifamily Deals App Podcast
- RE Mentor™ - Your Real Estate Mentor
Books mentioned:
- Free book at www.davetoday.com
Join us for our Virtual Apartments to Millions Summit. Text “A2M” to 480-500-1127
Quotes:
“Some people see it right away, some people never see it, unfortunately” - David Lindhal
"That’s when the naked men at the beach at low tide becomes exposed” - David Lindhal
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
No matter where you are, no matter where you’re at, the business of real estate investing is very doable. You do not have to wait to retire for you to start investing.
Today’s guest is Dr. Erin Hudson, an accomplished ten-year entrepreneur as well as a wife and a mother of five. She is the proud owner of Hudson Wellness Centers in CA providing chiropractic services and serves as a director for a team of 30+ employees. Aside from being a chiropractor, she is a successful real estate investor with a track record spanning five years, as well as asset manager of a $19.5 M real estate portfolio for which she raised over $ 3M in capital.
Let’s listen to this episode as Dr. Erin learned what it was that the wealthy were doing and eventually created more time and financial freedom.
Topics on Today’s Episode:
- Erin’s background and how she got into real estate investing
- How her business coach’s advice opens up her schedule and allows her to dive deeper into the real estate space.
- How she initially started even without money
- What is a double closing?
- The power of surrounding yourself with mentors
- How Dr. Erin felt when she first raised her $2M
- Plans for 2021
Links and Resources Mentioned
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
- LoopNet: Commercial Real Estate for Sale, Lease, Auction
- Quattro Capital
.Join us for our Virtual Apartments to Millions Summit. Text “A2M” to 480-500-1127
Quotes:
“What you put your mind to really matter.” - Dr. Erin Hudson
“Bottom line is, who doesn’t want their money duplicate in five years?” - Dr. Erin Hudson
“We’re supposed to be that bright light on a hill and showing not just for ourselves but for our children” - Dr. Erin Hudson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
When you want to scale your business, one of the biggest challenges is hiring new people. It would take a ton of your money, time, and resources just to get them up to speed to your business.
Our show’s guest is no other than Tony Javier. He is known as one of the top Residential Real Estate Investors in the U.S. and a speaker/trainer. Tony started his Real Estate Investing career in 2001 in Wichita, KS but now resides in San Diego, CA while his team runs his Real Estate Investing operation back in Kansas. Tony now dedicates his time to helping other Real Estate professionals grow their businesses. He focuses on working smart by surrounding yourself with the best people, automating your processes and more importantly investing in the most important Real Estate you have; your mind.
Join us in our episode today, as our guest Tony Javier, talks about how hiring virtual assistants make his business run smoothly.
Topics on Today’s Episode:
- Tony’s background and how he started buying properties with no money down
- How Tony raised his first private money
- Tony talks about his failed partnerships
- How hiring the right people made a massive change in his business
- Tony’s recommendations when scaling up
- Tony’s method in formulating their systems and procedures
- What Tony would have done differently in his real estate journey
Links and Resources Mentioned
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
- LoopNet: Commercial Real Estate for Sale, Lease, Auction
- Join us for our Virtual Apartments to Millions Summit. Text “A2M” to 480-500-1127
- www.REMmastermind.com
Books mentioned:
. Who Not How by Dan Sullivan
. No Down Payment by Carleton H. Sheets
Quotes:
“You have to have good people in your business” -Tony Javier
“Do what you say you’re gonna do, always leads to more money ” - Corey Peterson
“If you believe it, you can absolutely achieve it” – Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Have you been wondering how the business works? The 5th part of our Back to the Basics series talks about how to make money in this business. Learning how to operate your business is so critical now than ever because if you do this wrong everything you have been building up can quickly go down the drain.
Let us join Corey as he teaches us how to execute your vision and your plans for your company and how he can help us in navigating the pitfalls of the business.
Topics on Today’s Episode:
- How Corey hired a property manager from Atlanta while the property was in Arizona
- Why it is a bad idea to self-manage your property
- How 2 months makes a difference when hiring the right property manager
- The difference between regional management company and de-centralize hub approach
- What to ask your management company
- Understanding how to change the perception of a property quickly
Links and Resources Mentioned
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
- LoopNet: Commercial Real Estate for Sale, Lease, Auction
- Join us for our Virtual Apartments to Millions Summit. Text “A2M” to 480-500-1127
Quotes:
“In my company, a hundred percent is the gold standard ” - Corey Peterson
“I don’t want to hear you say it, I want you to prove it to me ” - Corey Peterson
“If you believe it, you can absolutely achieve it” – Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Today we are going to dive into a little bit more of the underwriting side of how to underwrite properties. We are going to give out tips and some rules of thumb on how we do underwriting at Kahuna Investments. We are going to share our insights on what conservative underwriting should look and feel like.
Topics on Today’s Episode:
- Why do we underwrite?
- How emotions play a significant role in buying decisions
- Putting numbers in your calculator
- Rules of thumb for your expense side
- What to underwrite your closing cost
Links and Resources Mentioned
- LoopNet: Commercial Real Estate for Sale, Lease, Auction
- 135: The Importance Of Having A Trusted Mortgage Banking Ally
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
- Join us for our Virtual Apartments To Millions Summit. text "A2M" to 480-500-1127.
Quotes:
“We underwrite to make sure the juice is worth the squeeze ” - Corey Peterson
“If you’re on the gas when you’re supposed to do it a little slower, then there could be some problems in Mexico ” - Corey Peterson
“If you’re sleeping like a baby, because chances are, you’re not.” – Corey Peterson
”live this lifestyle of sunsets and palm trees" - Corey Peterson
“You live and you learn” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
As the pandemic brought the world almost to a complete stop, plenty of opportunities for potentials deals are also opening up.
Today’s episode talks about how to find lots of deal flows. We are going to discuss how to get them and how to seek them out and we are going to explore the difference between good deals and great deals.
Topics on Today’s Episode:
- Know the difference between single-family deal flow and multifamily deal flow.
- There is no secret on how to find deals
- How the “big boys” find their deals?
- Tried and true method on how to find deals
- A couple of ways to getting unlimited deal flow
- The need to create relationships
Links and Resources Mentioned
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
- LoopNet: Commercial Real Estate for Sale, Lease, Auction
- 135: The Importance Of Having A Trusted Mortgage Banking Ally
- Join us for our Virtual Apartments To Millions Summit. text "A2M" to 480-500-1127.
Quotes:
“Sift through a bunch of crap to find the golden nugget” - Corey Peterson
“You absolutely have to kiss a lot of frogs” - Corey Peterson
“If you believe it, you can achieve it and your paradise is possible.” – Corey Peterson
“I stand at the door and knock all you got to do is open and figure it out it’s not hard" - Corey Peterson
“Today is the day that I’m not going to fail” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Today, we're gonna talk about the WORDS that you've got to know, you've got to understand to make sure that PEOPLE, your BROKERS, VENDORS and other related jobs don't think that you are a NEWBIE in this game!
These MAGIC WORDS will help you to LOOK, SOUND and FEEL like it's not your first time in this business. To do that, you need to understand the LANGUAGE because it is different from the SINGLE FAMILY INVESTING WORLD!
Topics on Today’s Episode:
- Understand the importance of the secret language of multifamily investing and why it really matters?
- Refresh and re educate yourself with the Magic words that are used in the Multifamily world.
- 2 Ways to drive NOI (Net Operating Income).
- The 3 Types of Main Plays in Talking with Brookers.
Links and Resources Mentioned
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“Change your life for the better” – Corey Peterson
“Everything you desire, claim and own it.” – Corey Peterson
“Be on Board. Take a piece on that CHARITY”- Corey Peterson
“Remind yourself daily of that dream and focus on it” – Corey Peterson
“If you believe it, you can achieve it and your paradise is possible.” – Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Buckle up, buttercups! Let's get ready for another ride! Today is the start of our 5-week program to go back to the basics of multifamily investing and the core things that we need to master to grow this business and live a life like no other.
Most investors know that finding deals is one of the pillars in starting the multifamily space. However, for this episode Corey Peterson is going to dive deeper on how to raise private money. It's way more valuable to be able to bring capital than it is to find a deal! If you also want to achieve a lot more zeros behind your net worth, tune in to this episode and learn to master this subject now! What you'll learn today truly matters and is pivotal for your growth.
Topics on Today’s Episode:
- How do you raise money and where do you find it?
- The Do's and Don'ts in raising the money
- What does it take to get a massive amount of capital and how can you accelerate that process?
- The transition process from being a financial advisor to a multifamily investor
- What is a "credibility kit" and what is usually in it?
- Understanding the reason why a story is vital in creating a legacy wealth
- Importance of choosing and having an Avatar
- Solid rates of return for investors with a strong back end
- How's the market treating you?
Links and Resources Mentioned
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
"You have to believe that you can do it." - Corey Peterson
"You have to commit in your mind that it is the best way, the only way and your way!". - Corey Peterson
"If you believe it, you can achieve it and your paradise is possible." – Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Do you believe that a normal person like you, who works a full time job at another company, can still greatly achieve your financial freedom? If so, HOW?
Today's episode is extraordinary! Prashant Kumar is here with us to share his journey to legacy wealth while working full time in an IT company. Prashant Kumar is an Enthusiastic, Passionate and Goal-oriented Multifamily Operator. He's the Founder and Managing Partner of MyRealtyGains.com. He's been in the real estate industry for 5 years now and currently owns over 1,200 units. He applies his 25+ years of experience in corporate America to analyzing Income & Expenses, calculating Net Operating Income (NOI) and calculating Purchase Price based on NOI and Market Cap Rate.
Tune in to this show and learn how to unlock the secrets to this journey. It takes a lot of courage and commitment to shift your mindset and take a step forward towards your financial goals. It may sound quite difficult to get there, but definitely possible!
Topics on Today’s Episode:
- How did you get into real estate and how you got to where you are at now?
- How did you unlock and get through getting so much wealth in just a short time?
- How did you transition from single family to multifamily?
- What are the 2 fundamental things in this business?
- Understanding the financial game and the niche of investing passively in apartments?
- Understanding the importance of your avatar
- Where do you say the majority of your money comes from?
- What is it about that asset group that you like the most?
- When you get to make investor's money, how does it feel?
- How much money do you think is out there looking for people like us?
- What does it mean by "Assisted Living"?
- What books have impacted your life that you would like to share?
- What is the biggest thing you have done in raising capital?
- What piece of advice and inspiration do you want to leave the audience with?
Links and Resources Mentioned:
- https://myrealtygains.com/
- https://multifamilyrealtygains.com/
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
" It's not so much about your wins, but so much of your losses that create the real experience". - Corey Peterson
"He who has most of the money makes the rules." - Corey Peterson
"The narrower the message, the finer the message you're gonna get." - Prashant Kumar
"If you believe it, you can achieve it and your paradise is possible." – Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
We all know that brokers play a vital role and relevant piece of the puzzle in real estate business. However, there may be times when you need to contact the seller directly to find the best deals. Listen to this episode as Chris Roberts shares his wisdom and unique experiences on how this process works.
Today's episode is also a phenomenal story of achievement where Chris shares his journey in real estate and as he realized he needed his capital to work hard for him, he went through the process of learning the multifamily space.
Topics on Today’s Episode:
- How did Chris Roberts get into real estate business at a very young age?
- Maximizing the return on time and leveraging time and skills.
- How does Chris Roberts run his team and how big is it?
- Finding out your value proposition.
- Importance of outsourcing virtual assistants (VAs) to do certain tasks and processes
- In dealing straight with the sellers, what are the processes and how does it work?
- Pros and cons of dealing directly with the seller
- How can you somehow get into the seller?
- Building rapport and relationship with the seller.
- Any new book that is inspirational lately?
- What would you advise to those who are looking into the multifamily world?
Links and Resources Mentioned:
- Talking to Strangers book byMalcolm Gladwell
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Guest Bio:
Chris Roberts is the Founder and CEO of Sterling Rhino Capital. He's been a full-time entrepreneur and investor since 2007. He owns and operates a Sales and Marketing Company where he was able to increase its sales growth from about 7.2 million dollars to 24 million dollars. He's got a proven track record of building successful businesses and he owns about 2,100 units.
Quotes:
"Do not be a victim of your environment or your circumstances. Be the results of your actions and attitude". – Chris Roberts
"I don't have time for fear in my life because I am out achieving my dreams". - Chris Roberts
"The power of your mind can do everything. It can move mountains and build wealth and legacy" - Corey Peterson
"If you believe it, you can achieve it and your paradise is possible." – Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
How many times have you thought it's gonna be a closed deal but actually not? How do you usually handle it? Do you get affected and does it lessen your self esteem and confidence?
We usually experience all these mixed emotions and it's definitely NORMAL. Human as we are, getting discouraged is totally understandable. However, learning to embrace the "NO" would bring you a long way as it unlocks opportunities to start building relationships because most of the time, investors need to earn your trust with their hard earned money.
Jump right into this episode as we are going to debunk more info on what happens, what to do and why investors usually say NO to your deal!
Topics on Today’s Episode:
- Some possible reasons why investors say no to your deal
- How do you deal with rejections?
- How to get investors to get to KNOW more?
- Dealing with FOMO (Fear Of being Missed Out)
- How often should you follow up for people who already said No to you? What are some follow up campaigns?
- What does it mean when the "Market drops"?
- What are the roles of syndicators?
- Providing solutions to investors (especially the retirees) in stretching their investments and making it grow.
Links and Resources Mentioned:
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
"Change your life for the better" - Corey Peterson
"Everting you desire, claim and own it." - Corey Peterson
"Be on Board. Take a piece on that CHARITY"- Corey Peterson
"Remind yourself daily of that dream and focus on it" - Corey Peterson
"If you believe it, you can achieve it and your paradise is possible." – Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Have you ever considered selling a cash flowing apartment to build legacy wealth in real estate? If you haven't yet, take a moment to tune in to this episode so you would grasp tons of nuggets on the reasons behind selling a property that makes you money and quitting that current cash flow to double your profit!
Today, Corey shares his personal story on HOW he was able to generate HUGE INCOME from a property he acquired 3 years ago at Catalina Village, Yuma, Arizona which suffered deferred maintenance and bad management. Learn the strategies he discovered to get high deals from these kinds of units.
Topics on Today’s Episode:
-
How and why did Corey acquire the property at Yuma, Arizona 3 years ago?
-
Different scenarios to better understand the concept and situation
-
What's in store for you when you sell a cash flowing apartment?
-
What strategies did he take to get the property refinanced with much favorable loan terms?
- Compressed Cap Rates
- Supplemental Loans vs. Refinancing
- Selling on one market and buying from another market
- What were Corey's long term goals and business plans?
Links and Resources Mentioned:
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
"Start with a dream, vision and belief and keep watering it to grow." - Corey Peterson
"Take baby steps. Don't give up. Keep moving forward." - Corey Peterson
"The more you learn, the more you earn."- Corey Peterson
"Put that vision on your mind, own it and believe it."= Corey Peterson
"If you believe it, you can achieve it and your paradise is possible." – Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Nowadays, people are too busy to give full attention to watching videos or reading blog posts. That's the reason why Podcast is considered as a unique alternative way in giving valuable information, one of the most convenient and easy way to build a personal connection to audiences. In just a few years, podcasts have grown in popularity. More businesses are starting to discover the contribution of podcasting to their marketing strategies, attracting new audiences and building trusts with their clients. Tune in to this episode and know more about how to start your own podcast and how it helps your business grow.
Topics on Today’s Episode:
- How podcasting works and why it is a great platform
- Benefits of launching a podcast and how valuable it is
- Having a process and how to start a Podcast right
- Advantages of podcast against other platform
- Considering 5 different metrics to grow your podcasts
- Why One on One Marketing is the best way of marketing
- How to build a personal connection with your audience using your Podcast show
- How to keep your audience download and review your Podcast episodes
Links and Resources Mentioned:
- Adam Adams Website: MyPodcast.website
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
"They're struggling with raising money, but it's not because they didn't learn how to do it legally, it's because they don't have a platform" - Adam Adams
"Everyone knows that everyone talks about that with our finances we don't wanna live paycheck to paycheck and it's the same in podcasting you don't wanna live episode to episode" - Adam Adams
"You add immense amount of value to the listener that comes straight from the heart, and you're not having some type of sales agenda" - Adam Adams
"It's always a little bit nervous to change, change is typically kind of hard" - Corey Peterson
"I love to teach, it's my outlet, but the results from it do matter" - Corey Peterson
"Do something that you truly love and eventually you can get paid a lot of money to do it" - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
A lot of people know their goals in life and what they want to achieve but they can't seem to understand the process of how to empower them. They know exactly what they are capable of doing but something's blocking them from maximizing it. It's not all about people's potential in doing things but also the difficulties that they encounter maintaining a healthy life between family and business. Tune in to this episode to better understand the steps and guidelines on how to unlock what's on your mind, things that you need to do, and how to start creating changes and growth in your life.
Topics on Today’s Episode:
- How to vision your personal life over business
- Things that you can do to create changes in your personal life
- Calendar and Time Management
- Importance of giving time for your family and for yourself
- Setting your Goals and Dreams for a successful business
- Building a good vision to improve your way of life
- Overcoming obstacles and failures
- Living your life to the fullest without compromising your business
- Why Mindset matters
Links and Resources Mentioned:
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
" The only commodity that anybody's caring about is time, that's the big money-maker" - Corey Peterson
"Relationships are not hard, but they're not easy, it take work." - Corey Peterson
"God made you unique, he made you special, he made you be able to do things that no one else can do." - Corey Peterson
"The more success you have there's the bigger failure can be right behind you." - Corey Peterson
"I learned how to get better, I learned how to start controlling my time, controlling my thoughts, controlling my actions, and actions becomes words, words become powerful, words have meaning and words can change you." - Corey Peterson
"If it's a bad track, you need to skip it, and if it's a great track, keep listening to it time and time again." - Corey Peterson
"I don't care where you started, I do not care, coz' you can get there." - Corey Peterson
"You've got to believe it, you have to put yourself in the position where you see that vision clearly and you say it to yourself daily." - Corey Peterson
"If you'll practice on being great when most people just trying to be good, it'll separate you by miles, and miles and miles." - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
A scalable business emphasizes exponential growth. In this episode, learn more on how to put this thing in a trajectory that you can not stop. In other words, once you get going, it does not only becomes good, but also becomes ludicrous! If you want to gain enough valuable nuggets that would help you in your financial journey to scale to the top and achieve success, then this episode is right for you!
Topics on Today’s Episode:
- How important is exponential growth in a business?
- Why do we need to scale the growth of a business?
- What are the building blocks in scaling for growth?
- Understanding your plans, systems and actions
- Avoiding "analysis paralysis"
- Dealing with taxes the right way
- Commercial Real Estate vs. Residential Apartments
- What is "cost segregation study"?
- What is "bonus depreciation"?
- Power of leverage
- Effects of doing the things you are not equipped for
- How important is it to hire people in your company?
- What type of people do you have to have in your "power team"?
- What can an Asset Manager do?
- How important is a VA (Virtual Assistant)?
- Finding the right partner for your RE business
- What is an IMS (Integrated Management System) and how does it works?
Links and Resources Mentioned:
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
"You've got to believe it first to achieve it" – Corey Peterson
"Fight like hell to get back on course. Never quit." - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Self-managing can be very stressful for most property owners. It can be difficult to maintain the consistency of day-to-day operations and maximizing income of the property. This is one of the main reasons why a lot of property owners consider partnering with third-party services, such as a Management Company. Tune in to this episode to identify some important things that you need to consider when choosing an efficient and service-oriented Management Company.
Topics on Today’s Episode:
- Roles and Responsibilities of a Management Company
- Systems and Processes of a Management Company
- Things that you should consider and what to expect before choosing your management company
- Your roles and responsibilities as a Business Owner and Operator
- Attitudes that you must have as a Business Owner
- Tips on how to make more money as Management Company or managing properties
- How to make your Management Company more profitable
- How to make your staff at your properties loyal
- Costs and some expenses of the Property Owner working with a Management Team or Company
Links and Resources Mentioned:
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
"I don't think Management Companies make lots of money, but I do think you can control your overall product a lot more if you are managing and you have systems and people" - Corey Peterson
"You cannot do enough due diligence in selecting a management" - Corey Peterson
"Everybody's looking for excuses instead of taking ownership" - Corey Peterson
"I'm their biggest cheerleader, I champion my team and my staff even though they're manage by my management company, I let them know that they are important to me" - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
While real estate investing is one of the best ways to make money, not all income brings the same rate of return for investors. Remember that where you invest makes a lot of difference. Tune in to this episode to identify some factors you need to consider when choosing your market to gain the most profitable investment property.
Topics on Today’s Episode:
- Why is it important not to take real estate advice from stock brokers?
- Being careful when you listen to those who claim they are “reliable sources”
- Understanding cash flow and force appreciation
- Importance of selecting and buying the right property location
- How important is job growth in the area?
- Identifying your cashflow
- Considering affordable housing
- Checking on the crime rate in the area
- Do you also have to consider the right property management?
- Finding good value deals in every market
- Where are you at in the real estate cycle?
- Understanding and looking at your worst-case scenario
Links and Resources Mentioned:
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“You have what it takes, it’s all in the mind” - Corey Peterson
“Your mind is a very powerful tool. Don’t let it go to waste” - Corey Peterson
“Never quit. Success is just around the corner. Open it when it knocks” – Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Understanding your cash flow allows you to view a better path of your financial goals. In real estate, a positive flow will definitely give a good rate in return. However, cash flow is NOT the only key to gain better ROI. Listen to this episode as Corey Peterson explains what an investor like you needs to know on selecting your next cash flow journey.
Topics on Today’s Episode:
- Is real estate the right vehicle?
- What is cash flow?
- What does it mean to invest?
- What is dumb money?
- Understand Single family homes vs. Multifamily
- Understanding stocks, bonds and mutual funds investment vs. Real estate investment
- Does stock, bond and mutual funds pay high dividend and have potential growth than real estate?
- Can someone else pay off the leverage off for you?
- What’s the solid rate of return that you could expect with blended portfolio?
- What are the 4 Returns on real estate and what that means?
- How do you force appreciation?
Links and Resources Mentioned:
- Robert Kiosaki’s Rich Dad Poor Dad
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
"See that's the difference my friend, leverage is really part of the key!" - Corey Peterson
"With Real Estate you can get profits from rents that's a dividend and its usually pretty darn good!"- Corey Peterson
"See the reason why I got into this game was for time and money" - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
When you try to start a journey on something new, there are lots of things going on. In real estate, you need a roadmap towards a clear vision on what you have and your ability to push past fear. In this episode, Corey Peterson will guide you to an overall knowledge of this multifamily game in real estate, how it is played and how it works.
Topics on Today’s Episode:
- Understanding Time and Money
- Power of velocity and compounding effort
- Exponential curve about Life and Money
- How do you leverage money, time, people and process in your life?
- What is Rule of 72?
- Believe in yourself
- Your ROI matters more than you think
- Know your financial statement to determine where you are at now
- Mapping out your vision
- Time cost vs. Ongoing cost
- What is financial freedom?
- Rules for creating a clear vision
Links and Resources Mentioned:
- Robert Kiosaki’s RichDad Poor Dad
- Rule of 72 by AlbertEinstein
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“You have to believe in it to achieve it. It doesn’t happen overnight” - Corey Peterson
“It’s the little things that matter” - Corey Peterson
“Focus on your goal, otherwise it’s going to leave you behind” – Corey Peterson
“Before you do anything with business, you put your life out and put it first” - Corey Peterson
“Knowledge breathes confidence” – Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
There's a lot of important reasons why you should implement a business system. Mapping out effective business systems and processes can create better problem solving strategies and decision making in an organization.
Listen in and discover how Randy Lawrence created the perfect business system and process that provides a strong framework for his company's growth and success.
Topics on Today’s Episode:
- Strategic and System Oriented: Everything should be systematic approach
-
Four Legged Stool System
-
Private Equity
- Well Integrated acquisition team
- Operation focus
-
Disposition
-
Set Your Mindset: Create the process in a mindset of documenting your task for someone to replace you.
- Why is Process Mapping important?
- EOS Process: Mapping and charting what your business looks like and then documentation of business systems and processes.
- The Rule of Clarify and Verify
- How do you go about finding the right person to add to your team?
- How hiring the right and quality people help you save money.
Links and Resources Mentioned:
- Website: www.pcpre.net
- Book Recommendation: The 80/20 Principle
- Podcast: The Real Estate Preacher
- What is Process Mapping?
- What is the EOS Process?
- Kahuna HQ
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
"Everything we do, we want it to be done in a systematic approach"- -Randy Lawrence
"Go gotta get down and get dirty to lay the foundation. The foundation is laid in the mud!" --Randy Lawrence
“Pain and pleasure motivate people” - -Randy Lawrence
“We don't really give a crap on what you try to do, it's what you did”- -Randy Lawrence
“The best people are the best” -Randy Lawrence
“It's not the lack of resources, it's the lack of resourcefulness that is preventing you from getting that person. “- -Randy Lawrence
“You have to flip your mind around and love the process. Love what it does for you to make you better”- Randy Lawrence
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Most new investors in real estate start with the traditional method-but is this the only way to create real wealth?
Investing in mortgage notes is an alternative class with many benefits plus opportunities! In this episode, Jim Maffuccio, dives into what it means to invest in mortgage notes.
Topics on Today’s Episode:
- What is debt?
- Toxic Assets: Buying Distressed Debt
- How Aspen Funds started?
- Create win-win situation: Keep the homeowners in their home with an adjusted payment structure often time reducing the principal
- How to transform a non-performing asset to a performing asset
- Rehabbing the paper instead of the property: Create reperforming loans and sell them at a discount
- Rules In Raising Money: What 506B and 506C
- What are serial funds?
- Stages of a serial fund
-
- Raise period
- Deployment period
- Harvesting period
- Benefits of a 506C
- Cash on Cash Return: Cash Flow on your investments
- Different ways to unlock more capital using 506C
- Get off of the roller coaster: Investors need us more than you need them.
- Due Diligence: Check your operators, track records and history and make sure they know what they are doing
- The importance of Mentorship
Links and Resources Mentioned:
- Website: AspenFunds.us
- What is HELOCs
- What is a First-lien Mortgage Note and Second-lien Mortgage
- What is 506B and 506C
- Kahuna HQ
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
"Not only our banks is too big to fail, even the little ones don't"- Jim Maffuccio
"Investment world is cash flow hungry right now" -Jim Maffuccio
"We are coming through the next cycle of stuff and I think the market is gonna open up to everybody, even for you. "- Corey Peterson
"They're looking for us, they are looking for guys like you and I that are committed to running a business model and doing it well"- Jim Maffuccio
"Money raising Capitals momentum: In the beginning it's like you're in the middle of the ocean and you don't even see the beach. You feel like you need to do all the work paddling that thing, but eventually you ride in the wave"- Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
If you don't know what’s the best cash flow opportunity is right for you, listen in and learn how to help your money work for you.
In this episode, the Anti-Financial advisor, Chris Miles shares how to maximize your wealth by giving you a game plan and a proven strategy that wealthy and successful entrepreneurs use.
Topics on Today’s Episode:
- Think from an investors perspective: Go with the evidence!
- Competing with your dollar: Accelerating money with Real Estate
- What is a tax free super charge saving account?
- Max ROI Infinite Bank: Make money in two places at the same time
- What is a Whole Life Insurance Policy?
- Whole Life vs Term Insurance
- Wealth Strategy: Get the cash value up quick and take the money, borrow it to put into an investment
- What happens to your investments when you die?
- Net gaining your policy: Money growing and its tax free
- Mutual Fund: High risk, mediocre returns and high expenses
- Can you overfund your insurance policy?
Links and Resources Mentioned:
- Website: MoneyRipples.Com
- Podcast: The Chris Miles Money Show
- What is a Whole Life Insurance
- What is a Term Insurance
- What is Roth IRA and Self Directed IRA
- Nelson Nash: The Creator of Infinite Banking
- Al Williams: Buy Terms And Invest The Difference
- Kahuna HQ
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
- Copy Your Way To Success: Standing on the Shoulders of Giants by Corey Peterson
- Apartment to Millions Summit: April 8-10 2021, Phoenix, AZ
Quotes:
"You can minimize the cost of the insurance to where almost all the money goes to cash and that money can be used to be redirected into real estate"- Chris Miles
"This is a wealth strategy that wealthy people use"- Corey Peterson
"You get the best of both worlds-Same concept how wealthy people use to play the game and transfer wealth as well"- Corey Peterson
"Stock market only returns after you pay all your fees and everything else"- Chris Miles
"but when you invest with it, that's the whole game changer, that when you start creating exhilaration of money and wealth"- Chris Miles
"One key for some investors: In most states its 100% protected from lawsuits and credit."- Chris Miles
"They know how to make money as an sales person, but they don't know how to make money as an investor"- Chris Miles
"cause that's what the big firms are always doing, they do not care about you they just want your money"- Corey Peterson
"Practice the way rich people invest"- Corey Peterson
"Wealth is created first IN YOUR MIND" -Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
How can you build a good relationship with your mortgage banker? Were your expectations met?
Buying properties and looking for a perfect loan is a big deal. One key player in that process is your mortgage banker. They help and guide you through the process to have a smooth buying process. Listen in and learn the benefits of having a solid relationship with your mortgage banker!
Topics on Today’s Episode:
- DUS Lender: Direct relationship with Freddie Mac, Fannie Mae and HUD Loan with no middle man.
- The power of Berkadia
- Figure out your loan goals
- COVID Scare: The impact of COVID on student housing projects
- Importance of having a good mortgage ally: Above and beyond service
- Do We have to personally guarantee a multifamily mortgage?
- Multifamily: Best asset class and best debt in the market
- Multifamily Asset: They perform well if managed correctly
- Non performing asset: CAP rate vs Cash flow
- Powerful aspect in real estate: The ability to tell a story
Links and Resources Mentioned:
- Berkadia
- Fannie Mae
- Freddie Mac
- HUD Loans - GEC
- CMBS Lender
- Non recourse bridge
- Non recourse construction loan
- Mom and Pop
Quotes:
"Lending world is always changing"- Corey Peterson
"Multifamily is the gift that keeps on giving"- Aaron Moll
"Boom! There's enough money chasing this sector. You can get non recourse on any type of loan that's out there"- Corey Peterson
"Multifamily is some of the best debt in the market"- Aaron Moll
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
What does financial freedom look like? Are you stressed about your finances and tired of your JOB (“Just Over Broke”)? Setting yourself on the right path to financial freedom is not easy. You need to figure out where you want to be and look for a perfect system or process that will work and resonate with you.
In today’s episode, Marco Santarelli founder of Norada Real Estate Investments, explains how SIMPLE it is to build wealth and create passive income through real estate investing!
Topics on Today’s Episode:
- From DotCom Crash to Real Estate Investor: Realizing your vision and your lightbulb moment
- Marco’s light bulb moment: The investors need to having education but not pulling the trigger and going through the whole process
- What is a Turnkey Model: How to put your money to WORK!
- Turn Key Real Estate Experience: Educating people for free about real estate investing
- Goal and Mission: Help one million people create wealth and passive income and put them in the path of financial freedom through real estate
- Finding and Attracting Investors: Get yourself out there and work on your network
- Marketing Suicide: If you dont create, build and nurture your email list
- Build a Tribe: Create a group of people that love or hate you
- Social Media: A powerful marketing tool and it's FREE!
- How to find the right market: "Live where you want and invest where it makes sense"
- Systems and Process: Structure in place that can assure success
- Two Key Major Factors In Finding The Right Market: 1. Population Growth and Employment Growth
- California Market: Supply Shortage + Demand Strong = Property Values High
-
5 Key People in your Team
-
Acquisition
- Professional Full Service Property Managers
- Lending Partners
- Ongoing support- Tax advisors
-
Asset protection attorney
-
Mentorship: Learning from other people's experiences
- The best investment: Investment in Yourself
Links and Resources Mentioned:
- We have 5 spots left! To join our Mastermind group please email: shelley@kahunainvestments.com
- Dot Com Crash
- Norada Real Estate
- Passive Real Estate Investing
- Supply and Demand
- Kahuna HQ
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
- Copy Your Way To Success: Standing on the Shoulders of Giants by Corey Peterson
Quotes:
"It's not being rich but being wealthy"- Marco Santarelli
"I love to use real estate to magnify and accelerate my wealth creation and preserve that wealth" - Marco Santarelli
"Teach what you know" - Corey Peterson
"Create so much pieces of information and where to get it that you're attracting the people that you want to come in and through that they get to know and trust you. Then they'll decide for themselves: Did I resonate with this person or not?” - Corey Peterson
"If you don't have haters, you're not doing it hard enough" - Corey Peterson
"Referrals drive your business" - Corey Peterson
"Ask them at the height" - Marco Santarelli
"I like the diversification of job spread across different industries" - Marco Santarelli
“Buying it right and managing it correctly goes hand in hand" - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Are you stuck in your real estate business? Do you know what you're driven to accomplish? Success in the real estate industry is not just having great opportunities and good education. It is also about having the right mindset and correct habits that will create great success for your business.
In today's episode, the big Kahuna, Corey Peterson talks about how your mindset can change the game and who can determine your success or failure.
Topics on Today’s Episode:
- Mindset Matters: What you think, what you believe and the actions that you take along the way, are vitally important.
- The Importance Of Mentorship: Be closer to the source where you can have some people positively influence you
- Ask Yourselves: Who's your five friends? What do they possess?
- Why Mindset Matters: What you tell yourself everyday does matter! Believe that you can do it!
- Murphy's Law: The ones closest to you are the ones going to be the distractions.
- Mind: Our mind is a super computer but the problem is we barely use it and were not using it full potential
- What Is Courage: When you're scared but you go anyways
- Entrepreneurship: We don't know the exact outcome of all the output but we have to have the courage to do it.
- Limit The Mistakes: Surround yourself with mentors and the right people
- The Right People For You: Successful people that are successful in multi-family real estate that are doing it right now!
- What Matters:
- Your Mindset
- Who you are keeping in your Inner Circle
- What you tell yourself daily
- Your voice
- Corey's Morning Motivation: "I'm a multifamily millionaire and investors are lining up to see me because I know how to control wealth and make it grow"
- Student First And A Teacher Next: The more you teach what you know the better student you become!
- Setting Up A Plan: Once you get good intel on how it works and what's the best practice, the goal is just to repeat the strategy
- Fundamentals of Apartments:
- Finding deals
- Raising Money
- Operating to Success
- Sell for a profit
- What Drives Corey: Legacy Wealth
Links and Resources Mentioned:
- Kahuna HQ
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
- Copy Your Way To Success: Standing on the Shoulders of Giants by Corey Peterson
Quotes:
"You are different, because you're the taking time to educate yourself" - Corey Peterson
"That which is easy, usually doesn't pay off, That which is hard, when you do it long enough, will make your life easy" - Corey Peterson
"You can't change other, but you can change yourself" - Corey Peterson
"You are never too good to be learning something new and then you're never too good to be teaching what you've learn"- Corey Peterson
"You get power in telling people time and time again and you start to feel it and it comes to your body and you feel and it becomes a voice" - Corey Peterson
"You can't skip steps, you have to put in the work" - Corey Peterson
"You have to find somebody's system that works and then follow it through the tea" - Corey Peterson
"I was relentless when it comes to execution I can take someone's plan and I will follow it exactly" - Corey Peterson
"Failure is where the growth happen" - Corey Peterson
"Failure is way bigger teacher than success" - Corey Peterson
"Fail forward" - Corey Peterson
"The more you fail the more you learn" - Corey Peterson
"Don't worry about the HOW, you can get the how in lots of people, but you've gotta be hungry, you've got to be relentless. Your drive should be as important as air." - Corey Peterson
"Plant a force and water that daily" - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Have you always been interested in real estate, but not sure where to start or how to effectively get into the market?
Today’s guest is Chad Wittfeldt from BlueSpruce Holdings. When only 17 years old, Chad started investing in the equities market. A few years later, he moved to currency markets. Chad joined BlueSpruce to apply his online media skills while learning about real estate. It’s his favorite asset class because of the controllability of inputs and outputs, risk aversion, and tax incentives.
Topics on Today’s Episode:
- Freedom for Fun: Passionate about multifamily, motorcycles, mountain biking
- Operations and Systems: Copy for success and use automation to buy back time
- Quality over Quantity: Build relationships with brokers to find best deals
- Authenticity: Key to automation in general and mass marketing
- Automation: What not to do—send messages that seem cheesy and salesy
- Keep it Simple, Stupid: Lead with a compliment (i.e., Corey’s crushing it!)
- Lead Magnet Funnel: Bring new person into your world and send them steps
- Qualification Forms: What do you do for fun? Sales copy to investing experience
- Words of Wisdom: Start now, but don’t quit your day job
- Visionary Integrator: Show up and follow up from real-world experience
Links and Resources Mentioned:
- Chad Wittfeldt on LinkedIn
- Chad Wittfeldt on Facebook
- Raising Money Secrets Facebook Group
- The Raising Money Summit
- BlueSpruce Holdings
- CCIM Institute
- S. Securities and Exchange Commission (SEC)
- Les Brown
- Three Feet from Gold
- JasonCapital
- Grant Cardone
- Sean Terry
- Kahuna HQ
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“I really started to understand that, especially with trying to find deals, it's really not about quantity. It's about the quality.” - Chad Wittfeldt
“I'm all about copying your way to success. If you can find information faster, quicker, and smarter, don't work harder.” - Corey Peterson
“Hang out where money hangs out.” - Corey Peterson
“There are days where I've cried out of happiness.” - Chad Wittfeldt
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Even if you haven’t been in the multifamily space for long, it may only take sheer determination to get some deals. Anybody that puts forth effort in real estate can create cash flow.
Today’s guest is Andy Vaughan, Principal of Back Nine Investors. He was in the insurance industry for 27 years and worked with several high-income net worth clients and business owners interested in real estate investing. However, Andy wasn’t wanting to be a landlord. Instead, he focuses on helping people invest passively in apartments.
Topics on Today’s Episode:
- Golden Handcuffs to Golf Courses: Andy’s real estate journey to residual income
- Network: Seek out information and ask for introductions from diverse database
- Affordable Care Act: Required to put commissions in admin portion calculations
- Book of Business: Income cut by 84 percent and burnt out on insurance policies
- BiggerPockets: When starting over, listen and learn to generate revenue again
- Captive Audience: Powerful professionals with money (doctors, dentists, others)
- Buying vs. Building Business: History, problems, and fixes—get stuff done
- Syndication: Tool in the toolbox to create cash flow and passive income
- Mentors, Coaches, and Masterminds: Teach you to find, fund, and operate deals
- COVID and Capital: Year’s worth of mortgage payments in reserve before closing
- Right or Wrong Opportunities: Unemployment, vacancy, moratorium on evictions
- Do Something: Every day, find a way, put a rung on your ladder, keep moving up
Links and Resources Mentioned:
- Back Nine Investors
- Andy Vaughan’s Email
- Andy Vaughan’s Phone: 318.614.0681
- Tony Robbins
- Carleton Sheets
- Affordable Care Act (ACA)
- BiggerPockets
- Cost Segregation
- Fannie Mae
- Freddie Mac
- Tom Wheelwright
- Auction.com
- Why the Rich Get Richer by Corey Peterson
- Kahuna Investments
- Kahuna HQ
- Kahuna Boardroom
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“I want to be able to play golf during the day and make plenty of money.” - Andy Vaughan
“Sometimes, you don’t even sell, you just talk about the opportunity. The right people self-select. That’s how I’ve raised money all my life.” - Corey Peterson
“People tend to understand that real estate tends to make money most of the time.” - Corey Peterson
“Syndication is a tool.” - Andy Vaughan
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
What could go wrong in the game of real estate, and how can you persevere? It’s the way you handle the ups and downs that makes the difference in the multifamily space.
Today’s guest is Andrew Cushman from Vantage Point Acquisitions. Andrew shares his perspective on what’s working and what’s not in the multifamily real estate market.
Topics on Today’s Episode:
- Enjoy the Ride: Multifamily real estate is like a roller coaster of ups and down
- Recessions and Real Estate: Leads to opportunity with pockets of distress
- B- vs. C-Class Assets: Raise capital to trade up and reap risk-adjusted rewards
- What Matters: Not the number of units, but the money made from them
- Headaches Happen: Hurricane Michael reduced occupancy from 100% to 16%
- Get in Line Fast: Find a great insurance broker and the right insurance
- Cash Value vs. Replacement Policy: What’s the difference for what it’s worth?
- Co-insurance: Properly and accurately value asset for premium or pay penalty
- Insurance Deductible: Avoid percentages or you may pay much more for claims
- Loss of Rent Insurance: Pays the difference to fill the gap and ability to rebuild
- Keys to Success: Communicating with investors, matching contractor to job size
Links and Resources Mentioned:
- Andrew Cushman on LinkedIn
- Vantage Point Acquisitions
- David Lindahl
- Robert Hamilton with Insurance Office of America
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“The grass is always greener over the septic tank.” - Andrew Cushman
“Once you can learn to raise more capital, it makes so much more sense to start trading up to nicer assets.” - Corey Peterson
“Operations is where you make money.” - Corey Peterson
“Make sure it is properly and accurately valued, and not just construed to get you the lowest premium.” - Andrew Cushman
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
For better or worse, the COVID-19 pandemic is everywhere and has impacted everybody. It’s not only changed lives, but businesses.
Corey Peterson, the Big Kahuna, describes his own COVID story and what he learned during his stay in the hospital, treatments received, and road to recovery.
Topics on Today’s Episode:
- Corey’s COVID: Flu-like symptoms, such as fever, aches, sweats, and fatigue
- COVID Test: Go to a rapid testing place to get results in 24 hours, not 10 days
- Family Affair: First Corey got COVID, then Shelley, followed by their son
- Treatment: Stay-at-home quarantine, no prescriptions, only OTC medications
- Lung Capacity: Lack of oxygen creates shortness of breath; leads to organ failure
- ER to ICU: Oxygen sensor, heart monitor, antibiotic steroid—must be admitted
- Beep, Beep: Best way to heal is lay on your stomach and work on breathing
- Peace of Mind: Confronting immorality all alone; ready and willing to go
- Faulty Sensor: Take a deep breath and listen to your heart (and how you feel)
- Shelley’s Treatment Plan: Not sick enough?! Take some Tylenol and good luck
- Don’t take ‘no’ for an answer; find a doctor that says ‘yes’ to steroids/antibiotics
- COVID-19 Weightloss Program: Lose weight or die trying
Links and Resources Mentioned:
- West Texas Doctor Bartlett: Is He on to a ‘Silver Bullet’ with Use of Off-Label Inhaled Steroid as COVID-19 Treatment?
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“Somehow, we got COVID.” - Corey Peterson
“Your appetite starts to truly fade.” - Corey Peterson
“You’re sick enough to get admitted.” - Corey Peterson
“I’ve never worked harder because I don’t want to die.” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
You really don’t know or understand how much you affect people with what you do. What happens when you meet people and get them to know, like, and trust you? They’re willing to give you their hard-earned money.
Today’s guest is Theresa Quintanar, one of my long-time investors who shares how we met, cultivated our relationship, and ultimately, gave me a lot of her money. What is Theresa’s side of the client/investor journey?
Topics on Today’s Episode:
- Knock, Knock. Who’s there? Corey wanting to be Theresa’s financial coach
- Rejected: Single mother of two kids barely making ends meet says, ‘No’
- Story Takes a Turn: Theresa has a change of heart and gives Corey $5,000
- Great Results, More Money: Theresa gives Corey $20,000 saved for retirement
- Risks/Tolerances: Financial advisors invest in stock market, don’t listen to clients
- Joint Investment Money: Reach out, follow up, continue relationship, get referrals
- Flipping Houses: Corey treated Theresa like a true lender with added insurance
- Cheers to Corey! Check is in the mail and how Theresa decides to spend it
- Transparency: Corey’s got your back and not a schemer, like some we know
Links and Resources Mentioned:
- Edward Jones
- BP Oil
- Workers’ Compensation
- Bernie Madoff
- Kahuna Investments (Deal Room)
- Kahuna Boardroom
- Kahuna HQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“You were good on your word.” - Theresa Quintanar
“Most people go into the stock market and sometimes, financial advisors just do what they think is best. They never really listen to their client.” - Corey Peterson
“We kept our relationship, even though you didn't have a dime of my money.” - Theresa Quintanar
“In this game of raising capital and doing good for people, it's always nice when someone doesn't keep you a secret.” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
To raise capital, how do you attract and nurture people to know, like, and trust you? Why should they follow you, and eventually, give you their hard-earned money?
Today’s guest is Adam A. Adams, who is known as “Triple A” in the real estate community. Adam educates investors through his real estate conferences, radio interviews, and Creative Real Estate Podcast. Adam’s one of Meetup’s top six organizers in the world and a master at getting people to move where he wants them.
Topics on Today’s Episode:
- 4-Part Funnel: Top (know), Second (like), Middle (trust), and Bottom (you)
- 3-Legged Stool: Thought leadership platform, social media channel, live event
- Lead Magnet: Giveaway solves problems to convert potential or past investors
- Love on Everybody: Talk less, don’t push, and pay to raise more passive money
- Who is your avatar? Who do you want to attract? What do they want and like?
- Sample Deal Package: When raising money, protect capital
- Pros and Cons: Email, text, clickfunnels, and Website campaigns and providers
- Raising Money Summit: Everything you need to up your game at raising capital
Links and Resources Mentioned:
- Adam A. Adams on LinkedIn
- Raising Money Summit
- Creative Real Estate Podcast
- Meetup
- ActiveCampaign
- Mailchimp
- ClickFunnels
- Squarespace
- WordPress
- Zapier
- Wix
- Dave Lindahl
- Kathy Fettke
- Kahuna Boardroom
- KahunaHQ
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“They call me a starter. I'm the visionary. I bring the stuff in. Once it's in the funnel, I don't want to touch it anymore.” - Adam Adams
Four-Part Funnel: Visualize the top (know), second (like), middle (trust), and bottom (you).
“If you don't have any leads in the beginning, you have nothing.” - Corey Peterson
“For those who are starting in business, it's really about your whole business. You want to find the money. You want to find deals.” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Multifamily Legacy Episode 127: Suggested Title: Due Diligence: More than Meets the Eye When Stuff Gets Real OR Due Diligence: Dark Side of Multifamily Investments
Where can you go wrong and make mistakes? When doing big deals, investors should do things in due diligence. Some will do it, some won’t. Most are not afraid to roll up their sleeves and get dirty.
Today’s guest is Jorge Abreu of Elevate, a real estate investment group that acquires value-add multifamily assets. Jorge’s construction background and commercial investment experience helps him to understand everything about due diligence.
Topics on Today’s Episode:
- Raising Capital: Bigger you go, easier and safer the deal
- CapEx Budget: Deal looks great, but then stuff gets real by doing due diligence
- Down Units Difference: How bad are they? How will they impact CapEx budget?
- Due Diligence Process: CapEx, maintenance, construction, software, pictures
- Tracking Dirt: What happened in Unit 5? If you don't track/measure it, it gets lost
- Faith and Honesty: Know more than seller and create opportunities to negotiate
- Due Diligence: Do it to know what deferred maintenance and upgrades will cost
- Don’t Be Lazy: Get bids and set expectations; a lot of work, but worth the effort
- Construction Company: Elevate is a benefit, like property management
- Team Building: Retreat to celebrate and offer recognition
- Focus: Too much noise? Pick your passion and conquer it
Links and Resources Mentioned:
- Jorge Abreu’s Email
- Jorge Abreu on LinkedIn
- Elevate Commercial Investment Group
- JNT Developers
- HappyCo
- Marcus Millichap
- David Lindahl
- Three Feet From Gold
- Joe Fairless
- Kahuna Boardroom
- KahunaHQ
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“If a seller’s talking, he's lying. He's definitely trying to skirt the issue.” Corey Peterson
“It makes no sense because it's going to come up, we're going to uncover it.” Jorge Abreu
“Whatever you find, can and will be used against you.” Corey Peterson
“People could steal all the time, they may slide out the back door. We can just talk about the dirt. The dark side of multifamily is scary." Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
How’s your credit? Not too bad, or not too good? Do you need to increase your credit and decrease your debt to create wealth?
Today’s guest is Rondi Lambeth, founder of Fortress, a financial services company. Rondi has helped more than 250,000 people increase their credit, reduce their debt, and create wealth. He is a FICO-certified credit professional and federally-approved/ court-appointed witness on credit.
Topics on Today’s Episode:
- Credit Cards: Cheaper, more secure, and more protection from being stolen
- Debit Card: Don’t lose it; leads to lost funds and possibly bankruptcy
- Debit vs. Credit: Consumer must prove fraudulent charges to bank vs. merchant must prove legitimate charges
- 50-Million Debit Cards: Hacked, held for ransom, and released on the Dark Web
- Badass Vacations: Get all the perks from rewards, zero tax
- Teach Your Children: 99% of people know nothing about money, credit, taxes
- CPA and Taxes: CPA‘s job is to file taxes, not help you to save money
- Most rich people want to help others, so they become a coach, mentor, trainer
- Multiple Credit Cards: All for different reasons that do different things
- Installment Loans: Never pay them off early, just pay them down quickly
Links and Resources Mentioned:
- Rondi Lambeth
- Rondi Lambeth on Instagram
- Rondi Lambeth on Facebook
- Fortress Credit Pro
- Fortress University
- NU Car Rentals
- American Express Centurion Club
- The Billions
- Ed Mylett
- Dave Ramsey
- Kahuna Boardroom
- KahunaHQ
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“Most people do not truly understand how to play a rich man's game because most of us are not rich.” Corey Peterson
“That's what most people do with their money, credit, and taxes. They're just doing whatever. Wrong answer.” Rondi Lambeth
“The love of money is the root of all evil, but I was taught money was evil, rich people were evil. Rich people are bad. They just take advantage of you.” Rondi Lambeth
“You want to have multiple cards that are always being used.” Rondi Lambeth
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Most people get into the multifamily business for time and money. What’s truly important? It’s not about the money. What’s your reason, ‘Why?’
Today’s topic focuses on family. Choose to live the life that you should and by building a business that allows your family to have your time.
Topics on Today’s Episode:
- Too Many Distractions: Steal your time and your time with your family
- Do the right things: Principles to live by include family identity and traditions
- Roses and Thorns: What’s the best/worst thing that happened to you today?
- Rules and Boundaries: Mean what you say; no has to be no
- Disciplinarian or Nurturer: Roles matter and make a difference
- Pursue Passion: Teach/show family highs and lows of entrepreneurship success
- Broken Promises: Don’t forget to make your family and personal time a priority
- Can we …? Teach your children the meaning and value of money
Links and Resources Mentioned:
- Asana
- Joyce Meyer
- Kahuna Boardroom
- KahunaHQ
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“I believe that we got into this business for two things: Time and money.” - Corey Peterson
“Most of the time, we are not living the life that we should.” - Corey Peterson
“What you do is more important than what you say.” - Corey Peterson
“Our kids have watched me succeed, but they’ve also watched me fail.” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
What are the next steps that you should follow to get potential investors to fill out and sign an accredited investor form?
Today, Shelley Peterson continues her investor relations series on how to conduct face-to-face calls that attract passive investors.
Topics on Today’s Episode:
- Source Potential Investors: Go face-to-face and get out into your community
- Target Avatar: High-income professionals wanting stock market alternative
- Presentation Form: Face-to-face method (mailers), or email campaign (opt-in)
- Lead Magnet: Pique potential investor’s interest by giving them something
- Research: Review answers to questions on potential investor questionnaire
- Record: Contact potential investor and document post-call notes via CRM
- DocuSign Email: Send potential investor an accredited investor form to fill out
- Do’s and Don’ts: Be engaging but avoid feature puking during calls
- Investor Types: Passive investors want cash flow; active ones want big payout
- Substantive Relationship: Ask financial questions to uncover investor’s needs
- Servant State of Mind: How can you help? Always have investors’ goals in mind
- Supporting Pieces: Credibility Kit shows brokers/potential investors track record
- Processes and Procedures: Trusted Kahuna Cash Flow; take breaks to check-in
- Goal: Set standards/expectations early on to get signed accredited investor form
- Investor Binder: Access to PPM, K1s, and other documents
- Tickler File: Always get investor’s mailing address to send mail campaign
- Differentiator: Get your brand, your name out there to those ready to invest
Links and Resources Mentioned:
- Shelley Peterson on Instagram
- Infusionsoft
- Zoom
- Fiverr
- 506(b)
- Kahuna Investments
- Kahuna Investments - Deal Room
- Kahuna Investments - Our Approach
- Kahuna Investments - Investor Portal
- Kahuna Boardroom
- KahunaHQ
- Kahuna Cashflow on Instagram
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes by Shelley Peterson:
“I’m a people person. I love people. I can do this all day long.”
“You want to know a lot about that person. They may not be a good fit for you and your company. They may not be the type of investor that you want to be in your deals.”
“It’s very important that you establish where folks found you because that’s going to show you what’s working in your systems.”
Always Ask: What do you do for fun?
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
What can help you in your business? A spouse who always supports your ideas—good or bad.
Today, Corey Peterson’s better half, Shelley, shares how to conduct face-to-face calls that attract passive investors. What to bring, what to say, and where to go?
Topics on Today’s Episode:
- Supportive Spouse: Shelley’s full of grace and authority with great insight
- Face-to-Face Call Structure: Opening, key points, objections, and close to action
- Right Investors: Attract high-income producing professionals
- Who to contact, or not? Specific and accessible professionals and offices
- Goal: Obtain and provide informational/educational discussions for decisions
- Prep and Packing: Visual aids, giveaways, and other fun stuff
- Appearance: Look the part when representing your company, products, services
- Customer Relationship Management (CRM): Enter name, email, mailing address
- Thank You: Send card, create tickler file, but don’t overwhelm customers
Links and Resources Mentioned:
- Shelley Peterson on Instagram
- S. Securities and Exchange Commission (SEC)
- Real Estate Investment Trust (REIT)
- Infusionsoft
- Kahuna Boardroom
- KahunaHQ
- Kahuna Investments
- Kahuna Cashflow on Instagram
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“We all know that we should have some sort of real estate in your portfolio.”
“There are other ways that you can invest your hard-earned dollars.”
“I’m not peddling drugs. I’m peddling an earlier retirement.”
“People are people. They want to feel special, and they want to feel like they are important.”
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
It may feel like the world is falling apart with all the pain, fear, and doubt due to the COVID-19 pandemic. Don’t give up hope, ambition, and drive. Now, more than ever, mindset matters.
Today’s guest is Paul Lizell, a real estate investor who has bought and sold more than 1,000 properties nationwide. He enjoys helping home buyers and sellers, as well as improving communities.
Topics on Today’s Episode:
- Believe to Achieve: Paul’s success due to coaching, education, and systems
- Wealth Models: Diversify real estate portfolio for multiple streams of income
- Passive Income: Safe, consistent, profitable source with tax benefits
- Deal Difference: Do fewer deals for bigger profits to put into rentals
- Numbers Game: Find real estate deals via online sites and offline marketing
- Millennials: Great renters with good jobs, but they want flexibility and mobility
- Coaching and Competition: Focus, lead the way, always go over fundamentals
- COVID-19 Catalyst: Anticipate and pivot to potential opportunities
- Cash Flow: Investors have cash and looking to spend on other projects
- Short- vs. Long-term Loans: Get private lenders lined up for financing
- REO Auction Academy: Learn how to buy properties via online auctions
Links and Resources Mentioned:
- REO Auction Academy
- Auction
- Hubzu
- Hudson and Marshall
- RealtyBid
- HUDHomeStore
- Fannie Mae
- Freddie Mac
- Paycheck Protection Program (PPP)
- Federal Reserve and U.S. Treasury
- The Last Dance with Michael Jordan
- 1984 by George Orwell
- Kahuna Investments (Deal Room)
- Kahuna Boardroom
- Kahuna Cashflow on Instagram
- KahunaHQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“Paul attributes his success in business and investing in coaching, education, systems, and at the end of all that is his belief.“ Corey Peterson
“Not paying taxes is a beautiful thing. Uncle Sam, he's loyal. He ain't never, ever going to cheat on you.” Corey Peterson
“This is when you buy, when there's blood in the streets. When there's fear, when there's uncertainty, you can buy cheaper.” Corey Peterson
“When I'm coaching my kids in sports...I always go over the basics of fundamentals over, and over, and over again.” Paul Lizell
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Real estate and multifamily investment opportunities are coming, as America starts to open back up after COVID-19. Are you prepared?
Today, I’m talking about branding—why it matters, why you should pay attention to it, and how people perceive you because of it.
Topics on Today’s Episode:
- Branding: What is it and where does it begin?
- Power of Professional Branding: Logo, Website, and assets—turns heads
- Masterminds: Bigger and better leads to learning along the way
- Branding Guide: Do’s and don’ts of design (colors, fonts, and more)
- Refine and Optimize: Make mistakes, learn from them, and keep developing
- People Judge: Like you or not? Find and attract your tribe with your messaging
Links and Resources Mentioned:
- Daniel Woods Visuals
- Fiverr
- Kahuna Cashflow on Instagram
- KahunaHQ
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
"Branding is much more than just a logo. Everything looks and feels the same."
"Consistent Messaging: Branding truly ties it all together."
"Version 1 is always better than version none."
"Branding gets you in the door. Make friends and get information."
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
What three basic steps should you take to win and be successful in this new COVID-19 environment and where we’re at economically?
Today, I'm talking about what you need to do right now to set yourself up to make multifamily legacy wealth for sexy cashflow and a crazy good life.
Topics on Today’s Episode:
- Student, Teacher, Coach, and Mentor: Never quit, always be learning
- Step 1: Build relationships with brokers and call them to bring you deals
- Step 2: Call money and share what you’re doing with friends, family, and others
- Step 3: Underwrite deals using software; multifamily is all based on numbers
Links and Resources Mentioned:
- LoopNet
- DocuSign
- Episode 117 - Stay in Motion: Communication is Key with Michael Becker
- Kahuna HQ
- Copy Your Way to Success
- Quick Start Workshop
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
"Shift Happens: Change is already on its way."
"Always be learning. Never quit or be afraid to fail."
"Find Commonalities: What do you like to do for fun?"
"Three Basic Steps: Call brokers, call money, and underwrite deals."
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
After months of sitting at home with bad haircuts, relief is on the way from COVID-19. Places are slowly starting to come back to life. There couldn't be a better time to get in the multifamily real estate industry.
Today, I'm talking to Michael Becker, principal at Strategic Property Investment (SPI) Advisory LLC. He derives stakeholder value through multifamily-focused hands-on asset management and construction oversight.
Topics on Today’s Episode:
- Portfolio Perspective: Normal month with not much difference equals success
- Bad State of Legislation? Rent controls, eviction restrictions, and blocking loans
- Pay, Vacate, or Provide Proof: How to handle hardship cases
- Foreseeable Future: Money to adjust system means asset price inflation, low interest rates
- Income Inequality: Everyone is worried, and rightfully so
- A- and B-Class Housing: Will workforce and college students return?
- Operational Changes: Focus first on life, safety, security, and collecting rent
- Liabilities and Loans: Understand the risks and reset debt expectations
- Maintain Relevance and Stay in Motion: Plenty of people are ready to buy
Links and Resources Mentioned:
- SPI Advisory LLC
- Old Capital Podcast
- Multifamily Legacy Podcast Episode 094: Talk is Cheap, Show Me the Check
- The ABC's of Real Estate Investing by Ken McElroy
- The Advanced Guide to Real Estate Investing by Ken McElroy
- Fannie Mae
- Freddie Mac
- Kahuna Boardroom (Early Bird Special is $5,000)
- Kahuna Investments (Deal Room)
- Mastermind Group
- Copy Your Way to Success
- Quick Start Workshop
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“If you're in California, New York, or some of the more landlord-unfriendly environments, it could be a little bit worse.” Michael Becker
“We're in the permanently low interest rates environment, at least for many years, with a ton of money going in the system. I don't see any way that the asset prices remain.” Michael Becker
“The current prescription to medicine, and the pain that we're in economically, can do nothing to solve income inequality.” Michael Becker
“We're not driving anywhere. Let's surf on the net. That's where SEO, having good Websites, having virtual tours, that means everything, right now.” Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Everything’s fine, everything’s right—until something goes wrong. Are your assets well protected? Is everything set up and structured properly? The first line of defense is always insurance.
Today, I'm talking to Mauricio Rauld, a real estate syndication attorney. Two common themes due to the COVID-19 crisis are people wanting to put together opportunity funds to acquire new assets and then protect them.
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Topics on Today’s Episode:
- Asset Protection: Protecting you from your assets, and your assets from you
- Real Estate Assets: Property owner is legally responsible for protecting others
- Limited Liability Company (LLC): Property owner is no longer you, but an entity
- Does it matter where LLC is registered? Local law applies, not LLC’s location
- How do you protect your assets from you? Charging Order Protection
- Digital Privacy: Don’t put a target on your back when it comes to assets
- Separation is Key: S Corp, LLC, and SEC issues with fees
- Lenders and Loans: No secure lending in foreseeable future; negotiate
Links and Resources Mentioned:
- Mauricio Rauld’s Email
- Premier Law Group
- Mauricio Rauld on YouTube
- Freddie Mac
- Robert Kiyosaki
- Kahuna Boardroom (Early Bird Special is $5,000)
- Kahuna Investments (Deal Room)
- Mastermind Group
- Copy Your Way to Success
- Quick Start Workshop
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“What most people forget is they themselves are these huge liability producing entities—people.” Mauricio Rauld
“What happens if you get sued? Forget about the assets, but you get sued, and now somebody has a judgment against you and wants to go after your asset.” Mauricio Rauld
“The goal of asset protection is to build that barrier between you—the individual—and you—your asset.” Mauricio Rauld
“The key is to separate your liability producing activities—your operating companies—from your asset companies—your holding companies.” Mauricio Rauld
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Everyone has to start somewhere, and real estate is an incredible journey. Who do you know that I should know?
Today, I'm talking to Jens Nielsen, who didn’t start in real estate until he was a middle-aged man. It’s never too late, simply ask for help and guidance. What’s the worst that could happen?
Topics on Today’s Episode:
- Financial Freedom: Buy four-plex properties with capital to create cash flow
- Carry the Note: No payments for 10 months and 10% down for 11-unit property
- Education, Events, Expand Network: You don’t know what you don’t know
- Masterminds, Mentorship, and Coaching: Build confidence and invest in yourself
- Brokers, Investors, Friends, and Family: Bring something, someone into the deal
- Syndications: Next phase of real estate journey by adding value to team
- How to talk to investors—understand and answer questions
- Future Freedom: Looking forward to four more years and leaving full-time job
- Overnight Success? 10 years in the making; take action, start small, and grow
Links and Resources Mentioned:
- Jens Nielsen's Email
- Open Doors Capital
- The Slight Edge by Jeff Olson
- Kahuna Boardroom (Early Bird Special is $5,000)
- Kahuna Investments (Deal Room)
- Mastermind Group
- Copy Your Way to Success
- Quick Start Workshop
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“In the multifamily space, a lot of people want to help. They want to share. There isn’t the mindset of abundance.” Jens Nielsen
“Tenants are actually paying my mortgage and getting some cash flow every month.” Jens Nielsen
“Hang out where money’s at.” Corey Peterson
“The easiest way to learn this business is to add value to others and jump on.” Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Getting stir crazy due to the COVID-19 crisis? The sooner we can get back to work, the better. About all you can control during this difficult time is your attitude. Stay positive.
Today, I'm talking about three mistakes that you must avoid in the multifamily space. There is no ‘Easy’ button. Doing the right thing involves communication, compassion, and community.
Topics on Today’s Episode:
- Mistake 1: Avoid accepting checks from tenants
- Solution: Set up, register, and pay via automated clearing house (ACH)
- Mistake 2: Avoid not owning your software
- Solution: Install your software, then give access to management company
- Mistake 3: Avoid paying bonuses for people doing their job
- Solution: Pay bonuses for profitability and being proactive as incentive
Links and Resources Mentioned:
- Kahuna Boardroom (Early Bird Special is $5,000)
- Kahuna Investments (Deal Room)
- Yardi
- AppFolio
- Rent Manager
- Mastermind Group
- Copy Your Way to Success
- Quick Start Workshop
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“I cannot stress enough the power of having an ACH set up. You should be using it, you should adopt it, and you should make it just part of what you do.” - Corey Peterson
“It only makes sense to own your data.” - Corey Peterson
“Your profit’s made in your budgeting, in your staff, in your people, and your systems.” - Corey Peterson
“It should be a reward to get a bonus.” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Still locked in your house because of the COVID-19 crisis and watching real estate unfold? Were you among those who predicted this downturn?
Today, I'm talking to Kathy Fettke, co-CEO of Real Wealth Network and best-selling author of Retire Rich with Rentals. Also, Kathy hosts two podcasts, The Real Wealth Show and Real Estate News Podcast.
Topics on Today’s Episode:
- Black Swan Event: Experience necessary during downturn for real estate deals
- Greatest Weakness: Not having someone on team as naysayer
- Bridge Loans: Short-term loans harder to get, make sure to have back-up plan
- Big Bad Landlord: Communication is vital to tenants and lenders
- Temporary Fix: Dilute the dollar by lifting asset values
- Fundamental Problem: Too much bad debt; find stable areas that can recover
- L, U, V Recession: Listen, learn, and prepare for all economic recovery scenarios
Links and Resources Mentioned:
- Kathy Fettke
- Real Wealth Network
- Retire Rich with Rentals by Kathy Fettke
- The Real Wealth Show
- Real Estate News Podcast
- Kahuna Boardroom (Early Bird Special is $5,000)
- Freddie Mac
- Fannie Mae
- Lehman Brothers
- Tony Robbins
- Zoom
- Mastermind Group
- Copy Your Way to Success
- Kahuna Investments
- Quick Start Workshop
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“If you’re going to keep assuming that things are going to be great forever, you’re wrong. It never is.” Kathy Fettke
“People want to see what they want to see. They want to believe what they want to believe.” Kathy Fettke
“Bridge loans, I had those in 2008. You know, that didn’t end well for me. Even if my deal was fabulous, in 2008 there was no liquidity. It just disappeared.” Kathy Fettke
“The better you are at, the more you get to pay Uncle Sam.” Kathy Fettke
“Time means everything, sometimes.” Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Let’s talk about the other side of pain. How are you using this time and space during the COVID-19 craziness? There’s still a lot of hope and opportunities—some more deals down the road.
Today, I'm talking to Ramon Gonzalez of Summit Home Buyers and Both On Board Podcast about how we can make a difference by serving others. If your only calling is to make money for yourself—money is fleeting. There’s more value in people, relationships, and impact.
Topics on Today’s Episode:
- Conscious Choices: Get closer to goal, or move away from it out of fear or love
- COVID Conversations: What will the next few years look like? What do you want? How much is enough?
- Alignment: No excuses, do what you want to do personally and professionally
- No Control: Slow down, live in present, and get more done by doing less
- Work/Life Balance: Create compassionate communities and closer to family
- New normal? BC and AC—before Corona, after Corona—different but better
- Passive Income: Why get into it? Your life won’t change
- Relationships & Recommendations: What you know, who you know to add value
Links and Resources Mentioned:
- Summit Home Buyers
- Both On Board Podcast
- Kahuna Deal Room
- Kahuna Boardroom
- Mastermind Group
- Copy Your Way to Success
- Kahuna Investments
- Quick Start Workshop
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“Relationships are everything...especially when stuff like this hits the fan.” - Corey Peterson
“Things are evolving where you can put in less and get more. The outcome isn’t money—even though money is the second byproduct—the outcome is impact.” - Ramon Gonzalez
“What’s way more valuable is people, relationships, and impact. That’s my currency.” - Corey Peterson
“Anytime I have an opportunity to give, we give.” - Ramon Gonzalez
“The two pieces in this multifamily business: Deals and money. They both are driven by relationships.” - Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
The crazy chaos of COVID-19 continues. Despite gloom and doom during fearful and uncertain times, opportunities arise to make millionaires.
Today, I'm talking to Dan Handford from Passive Investing. He describes what to expect the future to look like in the multifamily space.
Topics on Today’s Episode:
- COVID-19: Impacts assets and effects unemployment claims, loan rates
- Ups and Downs: Divorces, marriages, and births vs. multifamily demand
- Options: Weather the stock market storm and find temporary alternatives
- Loans and Lenders: Banks still healthy, capital available, and flexible extensions
- Constant Communication: Inform and reassure investors and lenders
- Next Generation: Multifamily means involving the entire family
- Presentation for Prospective Investors: Brochures, newsletters, and brand guide
- Sentiment Mindshift: Donate distributions to those tenants who need help
- Property Prep: Reduce non-essential spending, requests, renewals, renovations
- Shelter-in-Place: Everybody’s suffering, educate investors and raise capital
- ABCs: Higher the return, higher the risk; lower the return, lower the risk
Links and Resources Mentioned:
- Passive Investing
- Multifamily Investor Nation Podcast
- Fannie Mae
- Freddie Mac
- Fiverr
- Kahuna Boardroom
- Mastermind Group
- Copy Your Way to Success
- Kahuna Investments
- Quick Start Workshop
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“Millionaires get made in fear and uncertainty.” Corey Peterson
“Demand for multifamily apartments is still strong in the long-term.” Dan Handford
“There’s more capital in the market today than there has ever been.” Dan Handford
“Do the right thing, always, and you’ll never have to wonder or worry.” Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Everyone is struggling with the isolation and stress of an unknown future due to the COVID-19 pandemic. You’re not alone. Constant communication is crucial between owners, operators, tenants, vendors, and investors in the multifamily space.
Today, I'm talking to Nitzan Mosery of Cornerstone Investment Partners, Maureen Miles of 4M Capital Real Estate Investments, and Mike Flaherty of L5 Investments. They provide powerful and valuable insights into the current state of multifamily investments.
Topics on Today’s Episode:
- State of Multifamily Market: Constantly changing due to COVID-19 impact
- Take Care of Tenants: Incentives, waive fees, discounts, payment plans
- Take Care of Staff: Avoid layoffs, stay working, and stay safe
- Rent’s Due: Set expectations but be supportive, flexible, and compassionate
- Best Gift Ever: Help those in need, whether it’s toilet paper or coloring books
- Capital Market Loans: Private lending up; commercial mortgage-backed security (CMBS) on pause, Fannie Mae and Freddie Mac still going strong
- Time to buy? Refinance? Debt remains, lending is available, buy at right price
- Cash is King: Stay calm, conservative, and stable; with risk comes reward
Links and Resources Mentioned:
- Cornerstone Investment Partners
- 4M Capital Real Estate Investments
- L5 Investments
- Fannie Mae
- Freddie Mac
- HUD
- Flex Payment Solutions
- Kahuna Boardroom
- Mastermind Group
- Copy Your Way to Success
- Kahuna Investments
- Quick Start Workshop
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“It’s a mess out there, right now. It’s just a big question mark. I think it’s a wonderful time to pause, listen, and learn.” Mike Flaherty
“Right now, it’s preservation—preservation of capital, preservation of residents, preservation of the asset.” Nitzan Mosery
“We’re doing everything to make sure everybody stays working and employed. Trying to take advantage of this the best we can, while keeping everybody safe.” Maureen Miles
“People are amazing. There’s a lot of people that want to step up and do good.” Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
When you wake up in the morning, how are you going to make multifamily apartment investing work? How are you going to make money? How are you going to make that money repeatedly?
Today, I'm talking about why multifamily apartment investing is not only the best, but the only game to play to win. My passion for passive income came from apartment life. The problem with most people is that they’re just in the wrong spot.
Topics on Today’s Episode:
- Stock Market Correction: Stay the course or go fishing for money
- Early Bird Special: $2,500 discount for Kahuna Boardroom, now costs $5,000
- Five Years: Average time to hold multifamily property before selling it
- What are you doing now? Fix and flips, or wholesaling? Switch to cash flow
- What’s your net worth right now? Probably not what you want it to be
- Other People’s Money (OPM): If you’ve got OPM, easily transition your capital
- Golden Handcuffs: Like your job, make a good income, but it’s never enough
- Cost Segregation: Make more when you play the game that wealthy people play
Links and Resources Mentioned:
- Kahuna Boardroom
- Mastermind Group
- Rich Dad Poor Dad (Robert Kiyosaki)
- Copy Your Way to Success
- Kahuna Investments
- Quick Start Workshop
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“People don’t make rational decisions when it comes to their money.” Corey Peterson
“The best time to go fishing for money is when the stock market is in shambles.” Corey Peterson
“It’s not what you make, it’s what you keep or what you don’t pay to Uncle Sam.” Corey Peterson
“That’s what we want, time and money, and to have that money replenish each and every month. That’s called, ‘rent’s due.’” Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Hungry and eager to get your first deal after attending my Kahuna Boardroom? Believe in yourself. You know you’re going to make it work because you have to make it work.
Today, I'm talking to David Rosenbaum, one of two Kahuna Boardroom students who did their first deal together and shares how it all went by breaking it down.
Topics on Today’s Episode:
- Boardrooms: Guarded because you never know what you’re going to get
- Be Conservative: Find needles in haystack, and underwrite fat deals, if they get skinny
- Feeling rejected when trying to find deals? Remain patient
- Formulate Team: Find those with network, capital, skill sets, and industry knowledge
- Direct-to-Seller Deal: Site visit, LOI, due diligence, and different team members
- Wine and Dine: Boardroom break, mingle/network, and be accountable
- Stay Organized: So many documents, so file space is needed to stay sane
- Partnerships and Splits: When you start, how you finish, and in between
- Day of Closing: Just get one deal done, you’ll never forget it
Links and Resources Mentioned:
- Kahuna Boardroom
- Zoom
- Dropbox
- Slack
- Mastermind Group
- Copy Your Way to Success
- Kahuna Investments
- Quick Start Workshop
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“I didn't know what I didn't know from anything.” David Rosenbaum
“There's a lot of value in bringing capital and having capital. The money's in the money.” Corey Peterson
“The great thing about this partnership starting out where it was and where it is today, we don't have any egos.” David Rosenbaum
“When it got hard, you did the work anyway. You didn't cheat. You didn’t change the rules. You still did the work.” Corey Peterson
Don’t forget to download my Free Workshop Quick Start Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
What’s your management company not telling you? They don’t care two cents about you, but they do care about their money. When you hire people and pay them well, they still never care as much as you do.
How do you get them to care? Walk slowly, carry a big stick, and smile to let them know you’re in charge. Management companies should carry out your dreams, goals, wishes, and plans.
Topics on Today’s Episode:
- Start: Management company puts its best foot forward
- Middle: Management company tends to get lazy
- Things To Do: Management companies want to raise rents and increase income
- Collected Income: How most management companies get paid
- Expenses: Do management companies truly care about what they spend?
- Motivation: Always chase the money, always follow the money
- See What You See, Expect What You Inspect: Prepare annual budgets, make surprise visits, pay attention to details, and submit work orders
- Change management company? Get the love that you deserve
- Two-part Solution: Corey to be CEO and Kim Bruggeman the asset manager
- Plan Basics: Risk/liability, prevention, product improvement, resident retention
- Lighthouse Way: Management company controls product to create culture, system, and belief to get things done the Kahuna way
Links and Resources Mentioned:
- Multifamily Legacy Episode 056: University Crossings Case Study Part 1 of 3
- Lighthouse Asset Management
- Copy Your Way to Success
- Quickstart Workshop
- Mastermind Group
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“They are in a fee-based business, and they care about the money. More importantly, they just really care about their money.” Corey Peterson
“No one is going to care more about your property than you.” Corey Peterson
“There’s this nasty thing called, ‘expenses.’ It could be nasty when it’s not paid attention to correctly and properly.” Corey Peterson
“Pay attention to that expense category because if you don’t, you will not be profitable. Management operations is what makes or breaks your deal.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Listen up. By sharing all my mistakes, success, and failures, there are enough clues to pick up on that provide a clear path for you.
There are three things that you should pay attention to when it comes to deals in a competitive market. You need to have a performance clause in your contracts, make sure management company codes your CapEx correctly, and be conservative with underwriting.
Topics on Today’s Episode:
- Strong Competition: Multifamily market is filled with people trying to find apartment deals and making stupid offers/money
- Performance Clause: Avoid feeling frustrated when contract goes bad by including clause to cancel contract or get your money back
- Seller’s Coma: People put stuff under contract and ownership group or management company check out
- Power of No: Believe in yourself, your offers, and what you’re doing; don’t be afraid to walk away
- CapEx: Buy things in bulk and make them part of your improvement plan; code correctly for refi and capital improvements—things that make property better
- Good, Clean Business: Expect what we expect, inspect what we expect
- Slow Down Speedy: Underwriting shouldn’t hurt; be patient and conservative
- Mentors and Masterminds: Give you direction, guidance, and vision
Links and Resources Mentioned:
- Fannie Mae
- Freddie Mac
- CMBS Loan
- A2 Management
- 019: The Nuts and Bolts of Putting a Deal Together (Underwriting Guidelines)
- Mastermind Group
- Copy Your Way to Success
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“There’s lots of people out there trying to find apartment deals, and they’re making offers that are stupid.”
“Things can go south badly, if people are not paying attention. Most people, they’re not. They don’t care about you. They’re only thinking about themselves.”
“The hardest thing you’ll say is, ‘No,’ to yourself.”
“Our jobs as owners is to make sure we push our management companies and expect what we expect, inspect what we expect.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Can you imagine walking away from being a teacher and making a regular paycheck to work with your husband or wife? Talk about a deal breaker, but not for some couples in the multifamily space—like us, Corey and Shelley Peterson.
Today’s guests are Roman and Christy Gonzalez of Summit Home Buyers. They host the Both On Board Podcast, which focuses on their journey of co-creating a lifestyle and business. Learning to live and work together while starting a business is challenging, but so sweet when successful and still in love.
Topics on Today’s Episode:
- Opposites Attract: How to fight fair and figure out each other’s strengths and weaknesses
- Business Roles in Romantic Relationships: Who does what, who is good at what, and why?
- Follow the Leader and Learn to Let Go: Know your role, and shut your hole
- What do you like to do? What do you want to achieve? Prepare, plan ahead, and make a commitment to learn, grow, and play together and separately
- Climb Another Mountain: Reach your goal or target, but don’t get comfortable or cool down, set the next one above it
- Money Habits: Values align when you make money together
- Marriage and Business: The better your relationship, the better your business
Links and Resources Mentioned:
- Summit Home Buyers
- Both On Board Podcast
- Date with Destiny
- Tony Robbins
- Copy Your Way to Success
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“Once you hit a target, if you don’t set the next one above that, you end up cooling down.” Roman Gonzalez
“This is my lane, and this is your lane. When we come together, that’s where the magic happens.” Christy Gonzalez
“Know your role, and shut your hole. That’s how Mama Kahuna rolls.” Shelley Peterson
“When you’re dealing with your spouse, it’s really about trust and communication. There’s no one that I know has my back, better than my wife.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Have you ever considered stepping away from your corporate cubicle and trying something different? Tired of working on the same product or different variations of it every year? Being an engineer can be boring. After all, it’s not rocket science.
Today’s guest is James Kandasamy, who worked as an engineer and spent 22 years in the corporate business world. He took a giant leap to try something different. James settled on real estate and started investing in single-family homes. He moved onto bigger and better deals in the multifamily space. Not only does James raise money, but asset-manages his properties.
Topics on Today’s Episode:
- How much money needs to be raised per deal? $3-$4 million on average
- What and Who You Know: How to get your foot in the door to raise money
- Be Like Corey: True investors already know real estate and syndicators
- Positive Track Record: Underwriting deals, defining and executing business plans, and communicating directly raises money and returning customers
- Word-of-Mouth: People like to give money to those they’re referred to
- Build Relationships: Tell people what you do; if they want to invest, you have an established relationship already
- Unconventional Methods: Find deals with awesome prices by doing your own marketing and prospecting to direct sellers
- Investment Portal Software: Not the Holy Grail for raising money
- Value Add: Keep on adding free value through podcasts, content, and more
- Corey and James: People you know, like, and trust; raising money is personal
- Capital Raises to Raise Money: New people know capital raises, capital knows GPs/sponsors
- Property Management: Hardest part of multifamily properties
- Fear of Missing Out (FOMO): Social media exaggerates psychological optimism
- Four Market Cycles: Recovery, Expansion, Hyper-supply, and Recession
- Passive Investors: Learn how to select deals, sponsors, and markets; diversify; and what kind of cash to use
- Best Tips: Be patient, only do good deals, and interact diligently with investors
Links and Resources Mentioned:
- Achieve Investment Group
- James Kandasamy’s Email
- Passive Investing in Commercial Real Estate: The Insider Secrets
- Achieve Wealth Through Value Add Real Estate Investing Podcast
- James Kandasamy on LinkedIn
- James Kandasamy on Facebook
- Multifamily Investors Group at Facebook
- Fannie Mae
- Freddie Mac
- Copy Your Way to Success
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“You want to create a generation of wealth for ourselves, where we risk it ourselves, we do everything on our own, we use all our skills.” James Kandasamy
“Tell people that you're doing this, tell people the successes, and that’s how you raise your money in the beginning.” James Kandasamy
“When you got the money, you invest.” Corey Peterson
“Understand in property management, you don't make money. But it's not there to make money, it's there to control the product.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
How and where can you unlock money that you never knew you could use to invest in real estate? Enhanced Qualified Retirement Plan (eQRP).
Today’s guest is Damion Lupo, author of The QRP Book. He's invested in real estate for 20 years and owned more than 50 businesses. Damion knows a thing or two, or just about everything when it comes to raising private and making passive money.
Topics on Today’s Episode:
- Rookie Mistakes: Real estate investing takes more than books, inspiration, and buying property
- Reset Switch: After losing $20 million, Damion started over to focus on future
- Traditional Mutual Funds: Smoking a bunch of hope-eum as retirement strategy
- What are you, stupid? Using retirement money to do real estate is legal, if you know or learn how to do it correctly and control it
- In-kind Rollover: Don't have to pay unrelated business income tax (UBIT) with enhanced qualified retirement plan (eQRP) under 401 Section
- Seal the Deal? Questions to ask and how to avoid fear of missing out (FOMO), or running out of retirement money
- Emotional Rollercoaster: Stock market gives an illusion, not a paycheck
- If U.S. President doesn’t pay taxes, why should we? Why not? Use same code
- Assets Under Management (AUM) and eQRP: It’s not about what you make, but what you keep by taking action
Links and Resources Mentioned:
- Damion Lupo
- Damion Lupo’s Phone: Text “eQRP” to 72000
- The QRP Book
- Enhanced Qualified Retirement Plan (eQRP)
- Total Control Financial
- Unrelated Business Income Tax (UBIT)
- Unrelated Debt-Financed Income (UDFI)
- Individual Retirement Arrangements (IRAs)
- Edward Jones
- Charles Schwab
- Real Estate Investment Trust (REIT)
- Money Magazine
- Kiplinger
- Financial Adviser
- Robert Kiyosaki
- Tom Wheelwright
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“It's what most people are doing. They're all high on the hope, instead of actually being pragmatic and realistic.” Damion Lupo
“There's all these options where you can take that money and start investing. Some people know about it, but they're doing it wrong. Most people don't even know about it.” Damion Lupo
“The reality is, you can take your money and you can use retirement money.” Damion Lupo
“My entire mission is to break those shackles and to free people from bondage. It's not a bondage that you're stuck in for life, unless you choose to be there. It's really a choice.” Damion Lupo
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Can you imagine never having a boss? It’s a dream come true for most us. Creating passive cash flow does take a lot of patience. Once you get there, it doesn't stop. Never ask people for money. Only ask, who do they know?
Today’s guest is Josh Cantwell, a strategic real estate coach and Accelerated Investor podcast host. He talks about how to reap the benefits of raising money, deploying money, and owning assets.
Topics on Today’s Episode:
- Private Money Philosophy: Funding equals freedom
- Why own long-term assets? Wealth, financial security, freedom, tax advantages
- Bad News: Shaking, baking, making money until pancreatic cancer, no cash flow
- Passion for Private Money: Started by buying investment properties
- Pivot to what you know: Own assets so you don't need transactional to start over
- Passive Cash Flow: Lend and pool people's money into private equity fund
- Big Regret: Out of 700 residential deals, didn't keep them all
- Raising Money Tactics: 12-step process includes new and existing people to be potential investors and influencers—what about me?
- Play the Game with Elevator Pitch: What do you like to do? How does that work?
Links and Resources Mentioned:
- The Flip System by Josh Cantwell
- Freeland Ventures
- Accelerated Investor Podcast
- Robert Kiyosaki
- Carleton Sheets
- Francis Ablola
- U.S. Securities and Exchange Commission (SEC)
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“Funding equals freedom. It doesn't have to be your money. It doesn't have to be your funding. But funding from someone else equals freedom.” Josh Cantwell
“Owning the asset long-term...provides true wealth, true financial security, true freedom, and major tax advantages.” Josh Cantwell
“You’ve got to own the asset because you don't want to start over. You don't need transactional. I lived that mistake.” Josh Cantwell
“What about me? Those are the magic words.” Josh Cantwell
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Real estate is a journey. In the first episode of the Multifamily Legacy Podcast, I shared my journey into the multifamily space. For the 100th episode, someone else’s rags-to-riches story is featured.
Today’s guest is Will Harvey of CEO Capital Partners. He came from the lending world, got into a bit of trouble, but the lessons learned from substance abuse led to success.
Topics on Today’s Episode:
- Multifamily Game: Best journey that provides two things—time and money
- Early Entrepreneur: Collect, clean, and sell public golf balls to private course
- Double Dropout: Focus and make better choices by getting a real job and sober
- Support System: Family and friends help to get you back on your feet
- Landlord Lows: How to manage tenants better and guarantee cash flow
- Single-family vs. Multifamily: Battle scars from bad condo conversions or development that went south, but multifamily doesn’t miss a beat
- Deal Goggles: Kill deals before they cost money but don’t go under contract
- Will’s Superpower: Raising money/capital
- Action Items: Continue to learn and recognize paralysis by analysis
- Want to quit your day job? Will and desire needed to improve your circumstance
- Best Advice: Don’t seek qualified advice from unqualified people and think bigger
Links and Resources Mentioned:
- Will Harvey’s Email
- Will Harvey on LinkedIn
- Will Harvey’s Wealth Junkies Podcast
- CEO Capital Partners
- FHA Loan
- Grant Cardone
- Michael Blank’s Podcast
- Zach Gregor
- Multi-Family Millions by Dave Lindahl
- Monopoly Game
- Multifamily Legacy Podcast Episode 001: The Power of Cashflow in Real Estate Investing
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“You don’t want to go up the ladder. You want to own the ladder.” Will Harvey
“Lightbulb Moment: I need to buy as much real estate as I can cause this is awesome.” Will Harvey
“The best advice that I would give is don’t seek qualified advice from unqualified people.” Will Harvey
“It’s the best journey that I know that gives you the two things that most of us dream about, which is time and money.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Going from more than 1,500 passive investments to actively closing more than 170 units and a goal to reach 50 million assets under management in the next year—that’s just the tip of the iceberg.
Today’s guest is Gary Lipsky, CEO and founder of Break of Day Capital. Knowing how to manage people, having a steady hand, and being a solutions-oriented person led him to the multifamily space.
Topics on Today’s Episode:
- Perfect Storm: Applying years of experience, skills, and lessons learned led Gary to multifamily space
- Pull the Trigger: Education and partnerships provide time and money to invest personally and professionally, in owning multifamily properties
- Meetup Host: What happens? What do you learn from others? And why do others seek Gary’s advice?
- Build in Buffers: Rates and terms can change, nothing’s perfect and things can always go wrong
- Don’t Chase Deals: Stay patient, steady, and true to your numbers to get deals
- CapEx Negotiation Needed: Who’s going to pay? Who’s fault is it?
- Realistic vs. Best Case Scenario: Over-perform rather than under-promise; give investors what they expect
- Raising Capital: Email list, meetups, Webinars, and meaningful relationships
- Multifamily Game: Too good to be true? Find, educate, understand, and invest to overcome fear
- Due Diligence: Take action, don’t work in silo, and partner with others; every deal looks sexy, get to know operator and go beyond memorandum before investing
Links and Resources Mentioned:
- Gary Lipsky
- Gary Lipsky’s Email
- Break of Day Capital
- Break of Day Capital on YouTube
- MultiFamily Masters Meetup
- Fannie Mae
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“Everything I have done in the past has led up to this moment. The lessons learned, the mistakes, all the hard work has brought me to this point.” Gary Lipsky
“Knowing how to manage people, having a steady hand, and kind of being a solutions-oriented person really led me to multifamily.” Gary Lipsky
“Deals, money, people, resources—those are all the things that show up at meetups.” Corey Peterson
“Dealing with a seller who is a pain in the ass from the beginning, it’s not going to improve.” Gary Lipsky
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
What are you thankful for? I’m thankful for many things, especially knowing how to fail. Failing is never fun, but failing is part of learning and shapes you. Nobody’s perfect. You’re human. What do you learn more from, your success or failures?
Out of all the things someone could do in life, I’m convinced that multifamily deals are the true way to success. It’s what I know and understand. I wouldn’t trade my journey for the world!
Topics on Today’s Episode:
- Supportive Structure: If someone believes in you, their support keeps you going
- Learn to say, “No,” especially as you make more money, and people want it
- Dream Big: Who and what do you want to be? Everything is attainable
- 2020 Goal: Own your calendar and make time for what matters most to you
- “No” Factor: I don’t want to do it, I don’t have to do it, I’m not going to do it…
- Grateful for Growth: Cash flow changes your life and lets you share your success
- Kahuna Mastermind: Guide people when they need help by being a true mentor
- Why? Money is fleeting, but helping others to succeed lasts forever
Links and Resources Mentioned:
- Kahuna Mastermind Group 2: Email Shelley to join!
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“I attribute to my success is being willing to fail.” Corey Peterson
“I truly believe that failing is part of learning, and it is what will help you grow.” Corey Peterson
“‘No’ is a really, really hard word to master, and it will become even more hard...as you start to make more money.” Corey Peterson
“Take time to pencil your life. You don’t get the time back. It really is that important to have that time to share and to love and to live and to breathe.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Every year in the United States, we observe Nov. 11 as Veterans Day to honor those who have served in the U.S. Armed Forces. Rather than spending your signing bonus on a Harley, Charger, or Mustang upon your return, spend your well-deserved chunk of money by buying a home.
Today, I’m talking to Phil Capron, U.S. Navy veteran who served as a Naval Special Warfare Combatant Craft Crewman (SWCC). He purchased his first property in Norfolk, Va., while serving in the military. Five years and 30 flips later, Phil’s in the multifamily business and author of a new book, Your VA Loan: How It Can Make You A Millionaire.
Topics on Today’s Episode:
- From Navy SEALS to Multifamily Space: Phil’s story and journey into real estate
- SWCC—What they do: Jump out of planes, drive fast boats, and shoot big guns
- Veterans Administration (VA) Loan: Enables service members and qualifying veterans to purchase a primary residence at 0% down
- House Hacker: Being resourceful is big component to live for free, make money
- Assets vs. Liabilities: Pros and cons to living on/off base with family or friends
- Multifamily means more work, but more opportunity to build cash flow
- Lessons Learned: Don’t kill profit by raising all rents at once and losing tenants
- Do Something: Difference between big kahunas and people without portfolio
- Multifamily Space is a Team Sport: Partner with someone with some experience and take less; it’s better to have a slice of watermelon than a whole grape
- Commander of the Ship: Know how to negotiate and when to keep or sell property to cash out for cash flow
- Version 1 is better than Version None: Write a book and teach what you know
- Move On: Never let a failure/setback define you for an extended period of time
Links and Resources Mentioned:
- Phil Capron
- Your VA Loan: How It Can Make You A Millionaire
- Phil Capron on Facebook
- VA Loan
- Rich Dad, Poor Dad by Robert Kiyosaki
- Michael Blank
- CoStar
- The Miracle Equation by Hal Elrod
- Copy Your Way to Success
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“Being multifamily guys, we know about the power of leverage. It can be a tool that works for us, but it can also really mess us up, if we use it improperly.” Phil Capron
“I didn’t mean to be a house hacker. It just seemed like I wanted to have my buddies around, and I wanted to give them a place to live for cheap.” Phil Capron
“These guys and gals are returning home with a good chunk of money, and they’re going to drop it on a Harley, a Charger, or a Mustang. That’s a mistake.” Phil Capron
“What I would never do again. I would never allow a failure or set back to define me for an extended period of time.” Phil Capron
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Despite humble beginnings, being raised by a single mother, growing up in Section 8 housing, receiving government assistance through food stamps, and avoiding illegal activity, selling Kool-Aid and Pokémon cards sparked a child’s entrepreneurial spirit.
Today, I’m talking to Sterling White, a rental property investor who now owns more than $26 million in assets, 600 units, and consistently contributes content focused on the multifamily industry.
Topics on Today’s Episode:
- Mentee to Mentor: Learn, teach, and repeat
- Build Confidence: Focus on what you want to achieve, and find someone who needs your help
- Mindset Shift: Play to win and solve problems by beating brokers to the punch
- Why be average? Be extraordinary by doing more of what you want to do in life
- “It” Factor: Never, ever quit or give up
- Finding Fulfilment: Journey to get a deal involves a lot of work
- Finding Deals: Search database, set criteria, conduct cold calls, qualify clients
- Rubik’s Cube or Shoe in the Door: Copy your way to success with creative, value-based ideas
- Minimalist: Money isn’t everything; it doesn’t take much to be financially free
- Prove people wrong and value your time, even if you have to buy it
Links and Resources Mentioned:
- Sterling White on LinkedIn
- BiggerPockets
- Section 8 Housing
- Earl Nightingale
- Tony Robbins
- American Tracers
- CoStar
- Angie’s List
- Predictable Revenue
- 1031 Exchange
- Grant Cardone
- Tim Ferriss
- Multifamily Legacy Episode 051: Beat Commercial Brokers to the Punch
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“Anything above and beyond just the standard living...I had to figure out how to earn money.” Sterling White
“That’s when I fell in love with real estate by not getting my hands dirty.” Sterling White
“Same story. Same tenacity. I don’t care what it takes. I’m going to do it.” Corey Peterson
“I get more of a fulfilment through the actual work. I’m not so much interested in closing on the deal. I’m more interested in the journey to get the deal.” Sterling White
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Forestwood Apartments in Slidell, LA, is an amazing property that I purchased. It generated cash flow from the beginning without a lot of work. Terry, the property manager, never went below 97% occupancy for three years. He knew every tenant’s name and got along with them. Then, citing the need for less stress, Terry resigned.
Today, I’m talking about the real stuff of multifamily investing. What you go through, emotions you experience, mistakes you make, and gaining growth from pain.
Topics on Today’s Episode:
- Pre-training Process: Managers are deployed, live onsite, and strive for 96 to 100% occupancy
- Strategic and Methodical: From cable wires to faded outdoor paint, finish and complete rehab before starting next project
- Renewal retention rate is how you make money in multifamily investment space
- Green to Pink: Property went from greater than 95% to 94% in one month
- New manager not a country boy; occupancy dropped to 82% in second month
- Who is in charge? Property owner because no one else cares more; be a squeaky wheel to get the grease and fix problems
- Communicate with Investors: Don’t give good or bad news, just give the news
- Property Managers, Investors, Operators, and Owners: Don’t freak out, pay attention, and lead others to prosperity by being calm, focused, and determined
Links and Resources Mentioned:
- Forestwood Apartments
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“If you’re not demanding a lot from your managers, you’re probably doing it wrong.” Corey Peterson
“We’re in the people business. We hire great people to run and manage great people and give them a home.” Corey Peterson
“The way you make lots of money in this business is that renewal retention rate.” Corey Peterson
“The squeaky wheel gets the grease. I wasn’t squeaky enough.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
How do you source deals to grow your multifamily business to own 6,000 units in just six years? It’s all about relationships!
I’m talking to Michael Becker, principal at Strategic Property Investment (SPI) Advisory. He handles all aspects of property operations, from accounting and asset management to capital improvement/renovation projects and taxation.
Topics on Today’s Episode:
- Borrower vs. Lender: Michael’s transition to finding his own multifamily deals
- All Work, No Play: Michael’s motivation to experience life before it’s too late
- Principal Perception: Build and leverage relationships and capital for projects
- Property Process: Assemble team, balance deals with loans, and run projects
- Lingo and Language: Education comes before building, establishing relationships
- How to source a deal? It’s all about the relationship and getting to know others
- Biggest Risk for New Operators: Being under-capitralized for long-term holds that impact cash flow
- Crystal Clear Role: Make money by finding deals and money; everything else is noise
- Go with Your Gut Feeling: Even if you need the money, walk away and say, ‘No!’
- Get Real to Grow: Know where you are, what you know, where to start, and who you know to win deals
Links and Resources Mentioned:
- Old Capital Podcast with Michael Becker
- SPI Advisory
- Institutional Property Advisors (IPA)
- RealPage
- Fannie Mae
- Freddie Mac
- Edward Jones
- Automated Clearing House (ACH)
- Schedule K-1 (Form 1065)
- RingCentral
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes by Michael Becker:
“I had a lot of relationships. I had a lot of experience. I just wasn’t using those to the best of my capability.”
“I get to spend a week in Germany going to Oktoberfest in lederhosen with some of the most powerful apartment brokers in Dallas and Fort Worth.”
“It’s really simple. People do business with people they know, like, and trust.”
“The way that you make money is to go find deals and find money. Everything else is noise.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Today is the day. If you’re a business owner, you shouldn’t be washing the dishes. Take a chance to add doors in the multifamily space.
I’m talking to Jake Stenziano and Gino Barbaro, a.k.a. the pizza guy and drug representative, who came together to create a multifamily real estate investment business that continues to grow and generate cash flow. Welcome to the show, Jake and Gino!
Topics on Today’s Episode:
- 3-Leg Framework: Buy, Manage, and Finance
- Proof of Concept: Know what you’re doing, buy the right stuff, avoid bad deals
- Ask for Help: It takes time to make money; success doesn’t happen overnight
- Key Strategy: Stay away from shiny object syndrome, and commit to remaining focused
- 3 Whys of Multifamily:
-
- Why we get into multifamily? Control
- Why we win? Commitment
- Why we continue with multifamily? Create communities
- Financial Freedom: It’s not all about you, but educating and helping others
- Future of Multifamily Deals: Start small and progress to $10 million or above
- Blue Ocean Strategy: Create communities on property management side via phenomenal customer service, reasonable rates, and treat people right
Links and Resources Mentioned:
- Jake and Gino
- Jake and Gino’s Multifamily Mastery Live (Promo Code: Love Book for 25% off)
- Jake and Gino’s Podcasts
- LoopNet
- Fannie Mae
- Freddie Mac
- CMBS
- Edward Jones
- Bigger Pockets
- Chick-fil-a
- Physician Payments Sunshine Act
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“It’s an absolute five-year incubator to get into the money. Once you get there, it just starts to kind of snowball.” Corey Peterson
“Being super resourceful and not being ashamed to ask for help and be willing to give up some of the profits to do it.” Corey Peterson
“If you’re not creative, and you’re not thinking outside of the box, when you first think you’re an expert, game over, because there’s so much to learn.” Gino Barbaro
“Education times action equals your results.” Jake Stenziano
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Entrepreneurs always have lots of ideas. They need someone by their side for the roller coaster ride of ups and downs. Being married to an entrepreneur isn’t the easiest thing in the world.
Today, we’re talking about relationships, especially because Shelley and I are celebrating our 17th wedding anniversary among palm trees and sunsets!
Topics on Today’s Episode:
- Just the Way You Are: Don’t try to change your spouse; they are who they are and that’s why you love them
- How to be a Supportive Spouse: Believe in them and what they want to do to fulfill their potential; lift up, don’t crush their dreams
- F Bombs: Failing and feeling like you’re getting nowhere, but your spouse is always there when you need them the most
- Shelley’s Mr. Fix-it: Don’t give up because your spouse loves you and knows you’ll figure out a way through things
- Earn Trust through Communication: Trust your partner completely to let go of control
- Gazillion Questions, Only One Answer: What are you going to do? How are you going to do it? I don’t know, but I know I can get there.
- Is the doctor in? Using Shelley’s pharmaceutical background to raising capital by offering high net-worth individuals an alternative to the stock market
- Real Estate Investment Trust (REIT): That’s a fund. We’re not a fund. We’re the deal makers.
- Real Estate Ways: From no interest or experience to knowing it all; just never tell Shelley what to do
- Living Our Best Life: Mindset is everything, and lifestyle is the multifamily game
Links and Resources Mentioned:
- Edward Jones
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“As an entrepreneur...I have lots of ideas and someone to put up with that craziness.” Corey Peterson
“You are who you are and quite frankly, I never wanted to change you. I love the way you are.” Shelley Peterson
“Those moments when your partner wants to give up because it's easy. When things are going good, I don't have any issues. It's when hard things happen.” Corey Peterson
“Trust is huge because if you completely trust your partner, you're able to let go of that control.” Shelley Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
How do you get investors? Grow your database? Build your brand? Let’s dive deep into the marketing aspect of apartment syndication.
Today, I’m talking to John Casmon, GP in more than $70 million apartment real estate and host of the Target Market Insights Podcast. Also, John’s the co-creator of the MidWest Real Estate Networking Summit.
Topics on Today’s Episode:
- Volatile Work World: Never tie your entire livelihood to a corporation
- From Cars to Chicago: John’s passion for real estate investing ran out of capital
- Go house hack! Lots of interest doesn’t lead to replication; what people want is to find someone else to get them some return on their investment
- Less Babysitting, Scale Up: Make more passive income and cash flow by doing less to give investors a decent portion and not waste your time and energy
- Appreciation Potential with Apartments: When you fix-and-flip a single-family property, you only make money one time—when you sell it
- Value vs. Devalue: Marketing drives a brand and attracts investors to get a sale
- Apartment Syndication Aspects: Finding deals and then pairing those deals with capital to accomplish them
- Ways to raise capital include 506(b) based on pre-existing relationships and no advertising, or 506(c) open to accredited investors only and allows advertising
- Lead/Deal Magnet: Create a Website, offer value-added content to prospects, get their contact information, and follow up to qualify investors for your deals
- Who is your actual target market/audience? Understand why or what it is about your brand that connects with specific consumers
- MailChimp and Pipedrive: Track leads for email campaigns and conversations
- How to Find Investors: Build your credibility and connect with investors (starting with your own database)
Links and Resources Mentioned:
- John Casmon’s Email
- Casmon Capital Group
- Target Market Insights Podcast
- Midwest Real Estate Networking Summit
- General Motors
- FHA
- U.S. Securities and Exchange Commission (SEC)
- 506(b)
- 506(c)
- MailChimp
- Pipedrive
- Constant Contact
- ActiveCampaign
- Infusionsoft
- FixYourFunnel Plug-in
- Podio
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes by John Casmon:
“You can have the best product (or service) in the world, but if you don't know how to convey that to someone and convey the benefits to them, it's not really going to grow.”
“Anyone who gets into apartment syndication, it really comes down to two aspects. It's finding deals and then pairing those deals with the capital to do them.”
“The light bulb went off, and I started to learn more about working with other people's money, working with investors, and then ultimately, apartment syndication.”
“You do want to make sure you're building that brand and building a reputation where people want to work with you, not just today, but for the long haul.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Everyone wants a place to call home, even if they buy or own it. They still have the same desires, wants, and needs of a homeowner—community, safety, and someone who cares.
Today, I’m talking to Bruce Wuollet of Bakerson’s about how to create community, assets that improve areas, and make money. Bakerson’s focus is on Class C workforce housing (a.k.a. permanent renters).
Topics on Today’s Episode:
- Create community by quickly responding to and handling problems; treat tenants with dignity and respect; and be disciplined to take pride in property
- Raise Capital: Switching from friends and family to tapping into LinkedIn
- Find New Leads: Getting more deals and capital require wide network of friends/family and steady supply of new leads
- Teach and Share What You Know: Podcast platform promotes Bakerson’s story
- Where is wealth? How do you create wealth? Create passive income
- What's the difference between holding a property for 3 or 10 years? No one knows, so play the long game to create legacy wealth
- Job Well Done: Do what you said you would do when you said you would do it, the way you said you would do it
- Communication is Critical: If investors are happy and their equity is growing, you’re growing along with them; good or bad news, they just want news
Links and Resources Mentioned:
- Bruce Wuollet's Email
- Bakerson LLC
- Bruce Wuollet on LinkedIn
- Money Radio
- Fort Lowell Realty Property Management
- CALCAP
- Fannie Mae
- Freddie Mac
- Kahuna Investments
- Michael Blank
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes by Bruce Wuollet:
“Our focus is the permanent renter. The one who may never own a home and would like to live in one.”
“There's people that don't pay their bills...they got to go. (They) don’t fit our community. You're not taking care of what you're supposed to take care of.”
“You want a clean community. Just doing the right things right is really powerful.”
“You’re not going to grow without learning.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
When raising money, make sure that you’re in full compliance to avoid jail-time. Don’t engage in illegal activity like Bernie Madoff to swindle investors and defraud them.
Today, I’m talking to Mauricio Rauld, who is a syndication attorney who does my private placement memorandums (PPMs). Mauricio guides us through the process of syndication to stay out of the “po-po.”
Topics on Today’s Episode:
- Definition of a Security: Stocks, bonds, mutual funds, and other items
- Raising Money: Selling securities with passive investors involved in deals
- Pieces of Syndication Puzzle: Mauricio is legal piece that lets you focus on underwriting, due diligence, and other worrisome tasks
- Three Options: Register security or syndication with SEC; find exemption to registration; or consider it illegal
- Build Relationships to Meet Needs: What kind of return do you want? Are you more interested in equity or debt? Are you looking for tax mitigation?
- Bet on Corey, not Property: Submit a Letter of Intent (LOI), identify property, get it under contract, and perform due diligence
- PPM: Legal document that discloses material information and risks to investors
- Raising Money Gets Easier: Know minimum amount to raise to get deal done
Links and Resources Mentioned:
- Mauricio Rauld’s Email
- Mauricio Rauld on YouTube
- U.S. Securities and Exchange Commission (SEC)
- Rule 506(b)
- Rule 506(c)
- Regulation A
- Regulation D
- Anti-Fraud Provision
- Bernie Madoff
- Michael Blank
- Adam Adams
- Rod Khleif
- 8 Critical Steps to Practicing Safe Syndications
- Multifamily Legacy Episode 86: The Juice is Worth the Squeeze (Part 1)
- Multifamily Legacy Episode 87: The Juice is Worth the Squeeze (Part 2)
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“Corey can show you how to raise all the money, and Mauricio can make sure you stay out of jail.” Mauricio Rauld
“If you're not getting all the proper disclosures, if you're getting carried away with your returns, there's things that you can do to make an offer illegal.” Mauricio Rauld
“Each deal is different. It's got a unique risk. It's a unique loan. You’ve got to analyze and underwrite that particular deal.” Mauricio Rauld
“In raising money, your syndication attorney is a big piece of the puzzle because there's right ways and wrong ways.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Do you know where or what to look for when investing in real estate? Don’t lose money by making bad investment decisions. Run numbers to make the right investments.
Neal Bawa is the founder and CEO of Grocapitus, a commercial real estate investment company. Neal uses the power of numbers to acquire properties and create profit for investors. He’s known as the “Mad Scientist of Multifamily.”
Topics on Today’s Episode:
- Road to Real Estate Success: Multi-million-dollar campuses to multifamily units
- Real Focus: Real estate demographics course teaches where to invest
- Where to look:
-
- City Data
- Department of Numbers
- We are Apartments
- What to look for:
-
- Population growth (at least 20% increase)
- Income growth (at least 30% increase)
- Home price growth (at least 40% value increase)
- Crime reduction (less than 500)
- Neighborhood ratings (buy the best, avoid the worst)
- Areas of Opportunity: Arizona, Florida, Idaho, and Utah
- Difference in Lifestyle: Freedom to decide when and where you want to work to create peace of mind and build legacy wealth
Links and Resources Mentioned:
- Neal Bawa's Email
- Grocapitus
- Real Focus Course
- MultifamilyU
- MultifamilyU Bootcamp
- City Data
- Department of Numbers
- We are Apartments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes by Neal Bawa:
“Demographics control everything in real estate.”
“Home prices go up in every city, as crime goes down. Home prices are also tied to education, and crime decreases as education increases.”
“By looking at these metrics, you understand future rent growth. This is a crystal ball.”
“I’m in love with the power of numbers to create wealth.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Part 1 focused on the concept of getting a potential deal under contract. Part 2 covers the purchase timeline process for closing a deal, which is when your asset begins to work, run, and make money.
Be resourceful because real estate is a way to live your best life and create legacy wealth. Buckle up, buttercup!
Topics on Today’s Episode:
- Site Visit: Flights, hotels, and time ($1,500); if you don’t have the means, find a partner
- Hire lawyers ($2,500 per phase):
-
- Phase 1: Purchase and Sales Agreement (PSA)
- Phase 2: Title Search
- Phase 3: Closing
- Letter of Intent (LOI): Utilize template and submit interest to be accepted/signed
-
- Call lender and provide offering memorandum (OM) and current rent roll
- Ask your lawyer to write PSA draft and deliver it to seller’s lawyer
- Submit Cashflow Calculator numbers to management company
- Intervention: Attorneys, sellers, and buyers at impasse; nobody wants to give in
- PSA:
-
- Deposit earnest money
- Start private placement memorandum (PPM): ($15,000)
- Create and open LLCs
- Loan and insurance quotes
- Open five bank accounts: Operations, owners/investors distribution, deposits/earnest money, self-escrow, and capital expenditures (CapEx)
- Due Diligence:
-
- Perform on-site due diligence ($10,000-15,000)
- Apply for loan (up to $65,000)
- Environmental money
- Survey money
- Hard Money Line: Red for a reason
-
- All earnest money at risk
- “Golden Parachute” is non-negotiable
- Close deal to be profitable
- Built-in extension ($25,000)
Links and Resources Mentioned:
- Multifamily Legacy Episode 086: The Juice is Worth the Squeeze Part I
- Apartments 2 Millions Course
- Kahuna Cashflow Calculator
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
- Kahuna Boardroom
- Kahuna Investments
- Cashflow HQ
- Rich Dad Poor Dad by Robert Kiyosaki
- Fiverr
Quotes:
“Remember, you’re working with lawyers. So, there’s nothing that happens quickly.” Corey Peterson
“Why five bank accounts? If it’s not in the main account, then it doesn’t get spent.” Corey Peterson
“It typically is $10,000-15,000 to do a true, deep dive due diligence. I’ve seen it done for a little cheaper, but sometimes if you do cheap, you get screwed.” Corey Peterson
“Make sure that you know all the numbers on these deals. You’ll thank yourself, once you do it right. You don’t want to lose money.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Ready to be served the “meat and potatoes” of multifamily investing? I’m going to teach you everything—from finding qualified deals to getting them under contract.
What happens, what goes wrong, and what process should you follow? Lots of little things that you need to know. Real estate is a financially rewarding journey to living your best life and creating legacy wealth.
Topics on Today’s Episode:
- Analyze hundreds of deals, not just one, with the following:
-
- Kahuna Cashflow Calculator
- Pre-trained virtual assistants (VAs)
- Final look
Does this pencil?
- No: Dead deal
- Maybe: Dead deal may be resurrected for right price and reasons
- Yes: Visit site for information and interrogation to kill deal
Does it still pencil?
- No: Dead deal
- Maybe: 50/50 chance, after site visit and more information
- Yes: Create and submit Letter of Intent (LOI) to buy property
Does it still pencil?
- No: Dead deal
- Maybe: Negotiate, if necessary
- Yes: If accepted, receive signed LOI to create and submit Purchase and Sales Agreement (PSA) with contract extension
Does it still pencil?
- No: Dead deal
- Maybe: Not a done deal, until PSA is signed and due diligence items are delivered
- Yes: If accepted, receive signed PSA to start due diligence period
Every time there’s a change or more accurate data, inform your Kahuna Cashflow Calculator.
Part 2 will focus on the closing process, which is when your asset begins to work, run, and make money.
Links and Resources Mentioned:
- Kahuna Cashflow Calculator
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
- Kahuna Boardroom
- Kahuna Investments
- Cashflow HQ
Quotes:
“This is where most people fail. ‘I’m going to go find deals.’ But the reality is, they’re not willing to do the work.” Corey Peterson
“You have to visit the dirt to make an impact in the broker’s eyes. You want to come in as a bonafide buyer.” Corey Peterson
“You’ve got to come into these things with your eyes wide open. If there’s a mistake to be made, or a way to lose money, I’ve probably done it.” Corey Peterson
“You have a freaking pipe dream, until someone signs that dotted line on that Purchase and Sales (PSA) Contract.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
The real estate market is very competitive. Yet, people overlook deals because they lack huge equity spreads. Instead of letting deals pass you by, leverage them to create cash flow on properties that nobody else wants.
Today’s guest is Zack Childress, who teaches and trains others about real estate investing. He describes how a lease option control (LOC) creates cash flow when you can't get a bank loan.
Topics on Today’s Episode:
- Stabilization Money: Cash flow is money you can count on
- Denied: Not everyone can get a bank loan; lean into LOC
- LOC Segments:
-
- Straight Lease Purchase/Sale: Involves you and/or one other
- Wholesaling: Property held onto for cash flow, or flip to tenant-buyer
- Sandwich Lease: Unlimited cash flow model
- Master Lease: Lock in property with rights to purchase and fill with tenants
- No Equity, No Problem: Pulling in all people that every other investor can't help
- Right Areas, Markets, Price Points: Avoid low price-point neighborhoods where renters want to be owners, not owners who need help to improve properties
- Dream Deal via Domino Effect: Why rent when you can own a home?
- Disguised Sale: LOC doesn’t follow Dodd-Frank Laws; it's not seller financing
- Short Sale: Other options don’t mess up your credit score and report
- Specialized Knowledge: More you do, more you learn, more to share with others
- Copy Your Way to Success: Corey’s soon-to-be-published book; someone who has already been there, done that, and knows everything
- Commitment: Don’t waste time and capital; slow down, do one thing, do it right
Links and Resources Mentioned:
- Zack Childress
- REI Success Academy
- Unlimited Cash Flow System
- The Richest Man in Babylon by George S. Clason
- Rich Dad Poor Dad by Robert Kiyosaki
- Warren Buffett
- Dodd-Frank Laws
- Kahuna Investments
- Multifamily Legacy Podcast on Facebook
- Corey Peterson on YouTube
- Cashflow HQ
- Kahuna Boardroom
Quotes:
“You’ve got to be creative. You've got to be able to find a way to make some money.” Corey Peterson
“When I started really diving into the sandwich lease option, that was my thing. I built up cash flow.” Zack Childress
“They don't have any cash/fresh money to fix it up for sale. They’re tired of the headache. A master lease option is a great way to get control.” Corey Peterson
“If you're doing it in the right areas, the right markets, and the right price points, these owners actually improve the properties.” Zack Childress
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Wouldn’t it be wonderful to retire early? The good news is that it doesn’t take millions of dollars, but it does require consistent cash flow to replace your income. The bad news is, your financial advisor probably didn’t tell you about that possibility.
Today’s guest is Chris Miles, a.k.a. the Cash Flow Expert and Anti-financial Advisor. Chris helps people find alternatives to achieve financial prosperity by spending time and investing money in what they enjoy - whether it’s real estate, or not.
Topics on Today’s Episode:
- Financial Advisors: Salespeople who sell, but don’t typically tell the truth
- Conventional crap that Chris learned and taught: Save everything. Spend nothing. Debt is evil. Invest in mutual funds. Eventually, you may be able to retire.
- Despite bad advice and no control over clients’ money, Chris finds different ways to create cash flow
- Acceleration vs. Accumulation: Focus on cash flow and income stream, not stashing cash in retirement accounts
- Income Tax Loss: The more you make, the more they take.
- Tax-free Income: Strategies to write-off positive cash flow
- Nowhere to Run, No Place to Hide: Diversification doesn’t work in Stock Market
- Access to Liquid Assets: Live within your means, earn more than you consume
- Corey’s Advice: More debt equals more money
- Alternatives: Invest in what interests you, and double dip your investment returns
Links and Resources Mentioned:
- The Chris Miles Money Show
- Money Ripples
- Chris Miles on YouTube
- Janus Funds
- Charles Schwab Corporation
- The Dave Ramsey Show
- Kahuna Investments
- Multifamily Legacy Podcast on Facebook
- Corey Peterson on YouTube
- Cashflow HQ
- Kahuna Boardroom
Quotes:
“Save everything. Spend nothing. Invest everything in mutual funds, and let it sit there for 5-million years...eventually, you might be able to retire.” Chris Miles
“I gave bad advice. I gave the mainstream, traditional, conventional stuff you hear. It’s really hard to feel good about that kind of advice.” Chris Miles
“You can’t have real financial freedom without some measure of control.” Chris Miles
“We’re trying to grow wealth and make money. The more debt I get into, the richer I become.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Picture this; actually, draw it: Two guys are in a bar for a few drinks and talk about world domination. One guy rattles on about his smokin’-hot wife. The other has a six-pack physique. Hanging out, drinking, shooting the breeze. One says to the other, “Do you have money?” I bet you’ll never get that visual out of your head!
I was raising private money for single-family homes. You never know when you're going to meet capital. That’s how I met Vince Palko, CEO and founder of AdToons. He’s not your typical real estate investor. He's an artist and author of The Art of Selling Using Cartoons.
Topics on Today’s Episode:
- Gifted Artist and True Marketing Genius: Vince tells stories through his art and makes complex concepts simple to understand
- Who doesn’t want to be a superhero? Communicate with all walks of life and niches, including real estate investors
- Storytelling and Visual Aids: Why invest with Corey? Click for more information
- Visual Learning Map: Storyboard of journey to find what you want to achieve
- IRA/SEP: Can you make it make money?
- Multifamily: Apartments are like factories that go through a process; end goal is net profits because rent is due
- Learning to Draw: Vince’s mother was an art teacher; nothing to do or being bored wasn’t an option
- Speak in metaphors and from your heart to tell powerful stories that resonate with everyone
- Growth and Success: Visualize sitting on the beach, sipping cocktails, and money flowing in; work for you, don’t work for it
Links and Resources Mentioned:
- Vince Palko’s Email
- AdToons
- The Art of Selling Using Cartoons
- AdToons on YouTube
- GKIC Dan Kennedy/Bill Glazer
- U.S. Securities and Exchange Commission (SEC)
- Bob Ross
- Les Brown
- Steve Jobs
- Russell Brunson
- Lebron James
- Specialized IRA Services
- Kahuna Investments
- Multifamily Legacy Podcast on Facebook
- Corey Peterson on YouTube
- Cashflow HQ
- Kahuna Boardroom
- Collective Genius - Real Estate Mastermind
Quotes by Vince Palko:
“I really do feel like that is my superpower...trying to latch on to different concepts and metaphors to help people understand dry-dull business concepts.”
“This isn't anything new. As cavemen and women, we had icons and arrows scribbled on cave walls to help communicate languages, hunting strategies, family traditions.”
“Not only do you speak in metaphors, you speak from the heart.”
“Visualize: See yourself sitting on the beach, sipping cocktails, having money flowing in...working for you, instead of you working for it.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.
Steven Libman started as a fix-and-flipper, and then added single-family and multifamily real estate to his portfolio. He was already focused on achieving results.
After attending the Kahuna Boardroom, Steven hit the ground running. Now, I’m not saying my Boardroom is the be-all, end-all. But since then, Steven’s Integrity Holdings Group has closed $32 million in deals, plus $34 million under contract. Those are amazing results!
Topics on Today’s Episode:
- Right Way to Raise Capital: At a lower cost than other syndicators
- Majority of Money: 90% invested in stocks, mutual funds, and bonds; $4 trillion sits in 401(k) market
- Identify and supply what your investors want and need
- Secured Asset: Based on cash flow, deployment, and additional tax benefits
- Integrity Properties: Return of capital via stability, consistency, and passivity
- How to Scale: Copy blueprint to be bigger and do more wholesaling, flipping
- Get Educated vs. Get Deals: Learn about underwriting, how to manage deals, and talk to property managers
- Mentor’s Advice: Money is not in the deal; money is in the money
- Big Vision, Big Ideas, Big Dreams: Bring deals, find sponsors, perform as promised, and find more deals
- At-risk Relationships: Deploy money into dependable sponsors with integrity, track record, and processes
- Searching for Steven: Full-time deal maker with access to stock market alternative to raise capital
- Only sell away what the broker has and recommends to sell; traditional brokerage firms only do liquid real estate that can be traded in open market
- 401(k) Reform: Allows brokers to sell annuities for people to be paid annually; people can self-direct raw individual retirement accounts (IRAs) to their 401(k)
- Know, Like, and Trust: Set expectations and overdeliver
- Why you do what you do: Not just about money, but changing/impacting others
- Learn from Failures/Blind Spots: Be honest with yourself; grow stronger, not weaker; and partner with people to help fill gaps
Links and Resources Mentioned:
- Steven Libman’s Email
- Integrity Holdings Group
- Integrity Holdings Group on Facebook
- Integrity Holdings Group on LinkedIn
- Merrill Lynch
- Edward Jones
- Equity Trust
- Think and Grow Rich by Napoleon Hill
- Jeff Bezos (CEO of Amazon)
- Kahuna Boardroom
- Kahuna Investments
- Multifamily Legacy Podcast on Facebook
- Cashflow HQ
Quotes:
“When people tell you that you’re going to run out of money at that cost of capital...they don’t understand the returns that people are typically getting.” Steven Libman
“We’re about stability, consistency, passivity, and we’re all about return of capital first, return on capital second.” Steven Libman
“It only takes one deal to have a life changed.” Corey Peterson
“I could teach until the cows come home with what I know, but it takes someone else’s vision, too, to really drive that down the road.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
You do what you’ve got to do to live your dream. Real estate found Kevin Bupp when he was 19 years old and going to community college with no direction in life.
Kevin tended bar until he did enough deals to support and grow his business. He’s a real estate investor, who started in single-family fix and flip, moved into multifamily, and shifted to mobile home parks.
Topics on Today’s Episode:
- Single-family Stuff Unsustainable: Market shifted faster than expected
- Highest/Lowest Point: 18% vacancy rate, negative equity, no cash flow
- Loan Restructuring: Banks not interested in continuing relationships or restructuring loans
- Hard Lesson to Learn: Bad credit, bank accounts garnished, and being forced to sell multifamily properties at rock-bottom prices
- Crawling Out of Curled Up Ball: Save what you can to avoid bankruptcy by working with lenders on short sales
- Everyone knows the fundamentals: Buy low, sell high
- Rebirth and Regain Control: Start businesses outside the realm of real estate to save mental state and health, and pay bills
- Real Estate Itch Returns: Burning desire in belly with a newfound focus -Buy mobile home park communities, rent land to residents.
- Negative Stigma of Mobile Home Parks: Simply supplying affordable homes and rooftops to middle America
- Mobile Home Park Financing: Not readily available, not well understood by lenders
- Win-Win Situation: Ultimate goal for sellers is to have a plan for their money
- Fund Structure of Semi-Blind Pool: Making purchases at your own risk, raising capital for deal syndicate
- What is means to be a cash flow investor: It’s not just about cash flow of property, but protecting your team
- Focus, pick one thing, get really good at it because there's a million ways to make money in real estate
Links and Resources Mentioned:
- Sunrise Capital Investors
- Real Estate Investing for Cash Flow Podcast
- Mobile Home Park Investing Podcast
- Fannie Mae
- Freddie Mac
- Ron LeGrand
- Regulation D 506(c)
- Collective Genius - Real Estate Mastermind
- Rich Dad Poor Dad by Robert Kiyosaki
- Kahuna Investments
- Multifamily Legacy Podcast on Facebook
- Cashflow HQ
- Kahuna Boardroom
Quotes:
“I thought I was a cash flow investor, I thought I was following that model, and quickly realized that the market shifted way faster than what I anticipated.” Kevin Bupp
“I had bad credit. I couldn’t even get new debt put on these properties. We had to sell these things. I got out of them, but sold them for bottom basement prices.” Kevin Bupp
“This is what I love about true entrepreneurs. You're going to go down this journey. The only way you fail, is if you don't get back up.” Corey Peterson
“Raising money really becomes what your comfort level is, and also what the appetite for money is.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
If you’re not good at raising money, then you better be behind-the-scenes to make things work. Operations is where you make or break deals.
Today, I’m talking to RJ Pepino, co-founder of Columbus Turnkey Houses. He’s done more than 500 deals and provides insight into rehab and property management.
Topics on Today’s Episode:
- Brotherhood of Rich Dad Poor Dad: Entrepreneurial spirit of Pepino family
- Journey into Real Estate: Seminar that sold RJ on cash flow and cars lifestyle
- Fastest way to make or lose money? Flipping and wholesaling properties
- Corey is CG OG to bring sexy back by talking about investing in apartments
- Turnkey Definition: Buy distress asset, renovate it with standards, find tenants, and bring property management in-house
- Buying and Holding Properties: Ability to keep and pull out cash flow; tax-free money for owning rentals
- Business Motto: We’re all about fine tuning our rehab management.
- Bread-and-Butter Classes: Neighborhoods with more owners than renters; where you can collect rents and everything is good at the end of the day
- Rehab Book: Scope of work and plan to make property safe and functional
- Home Depot or Lowe’s, find cost-efficient supply chain to buy same fixtures
- Snapshot of Process: Schedules, scopes, and personnel
- Communication and Construction: Chat with general contractor (GC), “Change this and fix this.”
- Keys to Partnership Success: Open communication; stay in your lane based on skill set and personality type
- Constant Changes: Learn from every deal and come back stronger and better
Links and Resources Mentioned:
- RJ Pepino on Facebook
- RJ Pepino on Instagram
- Columbus Turnkey Houses
- Collective Genius - Real Estate Mastermind
- Rich Dad Poor Dad by Robert Kiyosaki
- Extreme Ownership by Jocko Willink and Leif Babin
- Home Depot
- Barnett
- Lowe's
- HGTV
- Voxer
- Traction by Gino WIckman
- Culture Index Inc.
- Gary Harper of Sharper Business Solutions
- Kahuna Investments
- Multifamily Legacy Podcast on Facebook
- Cashflow HQ
- Kahuna Boardroom
Quotes:
“The fastest way that I saw to make money....I got my start as a wholesaler, flipping, doing a lot of transactions." RJ Pepino
“Most people...are just buying and selling. They’re never keeping anything for themselves. That is where the money is made, by keeping it.” Corey Peterson
“Turnkey is kind of a loose term now. A lot of people are saying they’re selling turnkey rentals, and some of them aren’t even doing the rehabs.” RJ Pepino
“We’re not trying to sell for profit, we’re trying to rent it for money, cash flow. If you go spend a hellacious amount of money, then there goes your profit.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Would you like fries with that? At a young age, Mike Flaherty was busy getting projects approved for McDonald’s, Taco Bell, Home Depot, Walgreens, and other businesses. He may have started in commercial real estate, but his goal was always to move to the residential side.
Mike has done more than $525 million worth of apartment deals. He’s the founder and president of L5 Real Estate Investments, which focuses on well-located, yield-driven assets with physical and operational repositioning value place.
Topics on Today’s Episode:
- Mike’s First, Real Job: Managing real estate, design, and entitlements
- Always on the move, figuring out what he wanted to do: Why living at the beach, working less, and having more fun didn’t work out
- Making big companies big money, so why not do that for himself?
- Painful Process: Mike’s move from the corporate world to partner with investment bankers went to pieces due to the recession
- Starting from Scratch: What’s next? Buy when there’s blood in the streets
- Fortune 500 Education: With knowledge and experience, take the leap, and land on your feet
- Finding the Right, Risk-inverse Spot: Apartments are #1 risk-adjusted cash flow stream of investment in history
- What type of investments did well despite the recession? Apartments
- Is it harder to find deals now? Hard work isn’t easy, and good deals are always hard to find
- Raising funds is easy because banks love apartments; private capital is still challenging, so create trust and track record
-
1 To Do: Manage people’s money, and make sure to deliver what you promised
- Jobs, Retail, and Mass Transit: Three things that protect multifamily investing
- Sage Advice: Start small, find data, talk to right source, create good team
Links and Resources Mentioned:
- L5 Real Estate Investments
- Mike Flaherty’s Email
- Mike Flaherty’s Phone: 310-991-3091
- Toll Brothers
- Bovis Lend Lease
- Lehman Brothers
- Warren Buffett
- David Lindahl
- Multifamily Legacy Podcast 021: Becoming a Real Estate Investor – Bob Bowman
- Multifamily Legacy Podcast on Facebook
- Cashflow HQ
Quotes:
“I’ve been making everyone else a lot of money doing this business. How do I do this on my own?” Mike Flaherty
“I jumped from the corporate world and partnered with some investment bankers out of Los Angeles. The recession kicked in and all of the pieces fell apart.” Mike Flaherty
“You don’t have to be in real estate to go through that pain. It didn’t matter how good you were, or how bad you were, how smart you were.” Mike Flaherty
“Many of the success stories come from someone that had a niche or took someone else’s idea and made it better and prospered from it.” Mike Flaherty
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Going from earning a seven-figure annual income in the music industry to making $7 an hour bagging groceries is not really a step up the career ladder. Before you end up filing for bankruptcy (and divorce), there’s a simple solution. Learn new skills, and listen to your boss!
Today, I’m talking to Matt Theriault of Epic Real Estate. Matt teaches people how to make money in real estate - just like his manager at the grocery store suggested.
Topics on Today’s Episode:
- Real Estate is Final Frontier: Average people get equal chance to create wealth
- Can I start my career over? How to live a better life and retire early
- Passive Income Concept: Money in the bank vs. regularly replenishing money
- Get out of the Rat Race: Passive income may not make you rich, but may provide you with financial freedom
- Educate to Dominate: Teach what you know, and learn from mistakes
- Need to raise funds? Grow your audience? Start a podcast
- Stay in the ‘flow’ by modeling and copying your way to success
- Epic Real Estate teaches everything - from how to flip to wholesale
- Customer Satisfaction according to Corey: Tenants expect rents to go up every year, never disappoint them
- Success Accelerators: Greater, smarter, better, and faster people than yourself, including mentors, coaches, and networking/mastermind groups
Links and Resources Mentioned:
- Epic Real Estate
- Matt Theriault's Free Real Estate Investing Course
- Epic Real Estate Investing Podcast
- Rich Dad Poor Dad by Robert Kiyosaki
- Jason Hartman’s Real Estate Podcast
- Sean Terry’s Real Estate Investing Podcast
- Meetup
- Tony Robbins
- Cody Sperber
- Tom Kroll
- Collective Genius - Real Estate Mastermind
- Multifamily Legacy Podcast on Facebook
- Cashflow HQ
Quotes by Matt Theriault:
“I'm probably sitting on the wrong side of the desk, if I really want to make all the money. So, I made the transition from real estate agent to real estate investor."
“If there's nothing to keep replenishing that money as you keep spending it, that can create issues.”
“I think with real estate, there's a lesson intertwined in every single transaction that you do.”
“Failure is a much better teacher than success.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
You know me, I know how and where to find the cheapest place possible for banking, lending, and fat stacks of cash for multifamily deals.
Today, my guest is Aaron Moll, a mortgage banker at Berkadia. He’s done more than a billion dollars in loans and covers the whole lending spectrum. However, Aaron specializes in student housing loans, including getting me two loans for student housing projects.
Topics on Today’s Episode:
- Agency vs. Non-agency: Comparing options for getting loans for bigger deals
- Supplemental Financing: Biggest advantage with Fannie Mae and Freddie Mac
- Exit Plan: How do you exit money at the right time?
- Guidelines, Rules, and Reviews: Are Freddie Mac, Fannie Mae, Delegated Underwriting and Servicing (DUS) even options for multifamily deal?
- Seek small balance loan to streamline process and for low-cost and expedited transactions; designed for $5 million or less loans with DUS rules
- Fannie Mae and Freddie Mac offer step-down fee structure to create loans that match client’s specific needs
- Definition of Defeasance: Standard prepayment on permanent debt by securitizing deal
- Pros and cons of HUD loans include taking six months to close, amount of paperwork to complete, extra cost, and extremely low-interest rates
- Local banks are needed for loans, but so are mortgage brokers to reduce contingent liabilities and find something in the marketplace that fits your goals
- Loans should not be the same for every deal; utilize different plans of action, execution, hold periods, and other factors
- Not all lenders are the same; bridge market is partnership program in competitive space with interest-only payment, not a recourse
- Mortgage brokers build relationships to bring lenders and borrowers together
Links and Resources Mentioned:
- Aaron Moll of Berkadia
- Aaron Moll’s Phone Number: 231-360-1840
- Aaron Moll’s Email
- Berkadia
- Fannie Mae
- Freddie Mac
- Department of Housing and Urban Development (HUD)
- LifeCO
- Commercial mortgage-backed security (CMBS)
- BankingBridge
- 074: Hawkeye Towers: The Good, the Bad, and the Ugly Part 1
- 075: Hawkeye Towers: The Good, the Bad, and the Ugly Part 2
- 076: Hawkeye Towers: The Good, the Bad, and the Ugly Part 3
- Multifamily Legacy Podcast on Facebook
- Cashflow HQ
- Kahuna Boardroom
Quotes:
“Fannie-Freddie: King and Queen of multifamily. They tend to lead the pack when it comes to permanent financing. If you’re a masochist, we have HUD loans.” Aaron Moll
“Fannie-Freddie give you, programmatically, supplemental loans. You get one more bite at the apple during your 10-year term.” Aaron Moll
“When you do apartment deals, and you have equity involved, and you’re syndicating, it’s always about the exit." Corey Peterson
“We try to marry up the debt to best secure cash returns. That’s what everybody’s in this game for, is to make some money.” Aaron Moll
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Today, I continue to give you behind-the-scenes pointers of my recent Hawkeye Towers deal that closed in December 2018. The truth is, deals don’t always go perfectly.
Most gurus don’t tell you the truth. However, the goal of this podcast is to give you the truth. Investing is real, and there are risks. Put the right team together to help things go the way they’re supposed to.
Topics on Today’s Episode:
- Hardest part is getting the property to close; then get out of the way
- Follow processes to manage expectations, cashflow, and projects
- Find great management companies and great managers with great systems to make money for you
- Easiest bang for your bucks to make a big difference in property is to change light bulbs to provide a safer environment
- Testament of a Good Deal: Made $45,000 last month and at 87% occupancy
- Goal: 100% occupancy with waiting list by Fall leasing season
- Under Promise and Over Deliver: Strive for the best, but set the floor based on your and your investors’ expectations
- Cash flow expected to go through the roof; rents will be raised 3-7% annually
- Strive for more time and money for a better life and to make a difference
- Corey’s 3 Assets: Belief, determination, and copying
- Listen to your mentors and master their techniques to be successful
Links and Resources Mentioned:
- Multifamily Legacy Podcast on Facebook
- Kahuna Investments
- Why the Rich Get Richer by Corey Peterson
- Cashflow Calculator
- Cashflow HQ
- Sean Terry
Quotes by Corey Peterson:
“Getting them to close is typically the hardest part. Once you get there and operations take over, a lot of the hard work, for the most, is done.”
“I’m there to guide the ship, but I’m not there to make everyday decisions.”
“I’ll take deals like Hawkeye every day. I’ll go through the trials and tribulations. Things happen. But at the end of the day, you’re here to make a difference.”
“It only takes one (deal). The journey is the reward. It doesn’t happen overnight. Success takes work.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
I’m going to share mistakes made, how to overcome challenges, and what I wish people would have told me when doing a multifamily real estate deal.
Today, I’m continuing my miniseries called, Hawkeye Towers: The Good, the Bad, and the Ugly. I teach what I know and challenge you to be a lifetime learner and leader, too.
Topics on Today’s Episode:
- First Hurdle: Problems with seller maintaining occupancy rate to secure financing
- Second Hurdle: Getting and buying the property when pettiness ensues; play nice to produce a seamless transition
- Nothing and no one can move forward until title company says these magical words: “We’re closed.”
- Is the deal going to go happen? Calm down and take a breath; it may not get done today
- Remain calm, cool, and collected to take care of business and get the key
- Underpromise and Overdeliver: Setting the floor to make a healthy profit and increase occupancy
- Apartment industry is in the business of creating happy people by offering a clean, safe, and disciplined property
- Lead by example and with love: Fix bad management and deferred maintenance
Links and Resources Mentioned:
- Kahuna Investments
- Why the Rich Get Richer by Corey Peterson
- Kahuna Boardroom
Quotes by Corey Peterson:
“This is very typical of sometimes the pettiness that can happen in a deal. Sometimes, sellers are idiots.”
“When it comes to money, you see the absolute worst in people. It doesn’t have to be that way.”
“It’s not done until the title company says, ‘We’re closed’.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Painting a Bob Ross is almost like doing a real estate deal. You have an idea of what you're going to do, but then you mess up. You pull back to take a look and reflect. There are no mistakes, just happy accidents. Things happen for a reason.
Today, I’m starting a miniseries called, Hawkeye Towers: The Good, the Bad, and the Ugly. It’s a conversation about what went right and wrong with a recent deal to help you understand the underbelly of what really happens in multifamily deals. Many people talk about how great it is, but forget to tell you the truth. It’s not always sunset and palm trees. Sometimes, there's a little snafu. But everybody will forget anything bad that happens in a deal, as long as you close.
Topics on Today’s Episode:
- Losing in best and final; don’t cry about it, go back to work
- Hawkeye Towers: Student housing project via same broker as Eagle's Village
- Transactional relationship was established; did what we said we're going to do
- During a deal: Go slow, understand what you're doing, and follow your process
- Site Visit:
-
- How close are you to the college?
- When was the property built?
- What amenities does it offer?
- Figure out financials for Letter of Intent (LOI); why does seller want to sell; what's their motivation?
- Perform physical and financial audits on property to know the numbers
- Sellers get amnesia, miss opportunities, and forget how to operate
- Red Flag: Seller can’t get lease rate back up to 90% occupied for underwriting
- Understand and abide by contracts because they bring out the worst in people
- Intervention and Alternative: Finding loans is about relationships
Links and Resources Mentioned:
- Kahuna Boardroom
- Why the Rich Get Richer by Corey Peterson
- Bob Ross
- Fannie Mae
- Freddie Mac
- Veridian Credit Union
Quotes by Corey Peterson:
“Power of transacting and having broker relations: When you can get to that point where...they like you, and they want to do business with you.”
“Even though deals kind of go south, get weird, and all that stuff, when you close, all sins are forgiven.”
“I'm slow for a reason. My team's slow for a reason. The reason is, we have a process. We're going to follow our process. We have to check things off.”
“In small town America, asking, putting your right foot forward, and showing them all your cards, being truthful and honest means something. That's what we did.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Work hard, hustle, and overcome challenges. If you haven’t been through that, then you’re not an entrepreneur. You’re better for it and appreciate life more.
Today’s guest is Mike Hambright of Investor Fuel Real Estate Mastermind and FlipNerd. As a real estate coach and mentor, Mike has helped hundreds of people build profitable businesses, improve their lives, and grow their network.
Topics on Today’s Episode:
- Power of Community and Communication: Create space for people to feel comfortable being vulnerable
- Live a Lifestyle by Design: Real estate is more than what you do for a living
- Commitment to become successful; there’s no easy route in real estate
- Date Night with Support System: Do not disturb, be present
- Building a business the right way; work less to grow and work with your mind to make an impact
- Cash flow to scale and outsource in multifamily space
Links and Resources Mentioned:
- Investor Fuel Real Estate Mastermind
- FlipNerd
- Rich Dad Poor Dad by Robert Kiyosaki
- Kahuna Boardroom Webinar
Quotes by Mike Hambright:
“I got into coaching and started helping hundreds of other people build their businesses.”
“It’s more than what we do for a living. It ties back to who were are personally and our families.”
“If you’re fat, pop a pill. If you’re sad, pop a pill. There’s no pill in entrepreneurship. There is no easy route.”
“I thrive on impact. I do love it. It’s my life, it’s my hobby, it’s everything.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Every day, businesses go bad and fail. Do you have the necessary skills to be successful? It all comes down to multi-tasking, delegating, and aces in places.
Today’s guest is Greg Dickerson, a handyman turned multi-millionaire in the real estate industry. During his 22-year career, Greg has bought, developed, and sold more than $200 million in real estate.
Topics on Today’s Episode:
- Greg’s Business Philosophy: Find great people, put them in the right position, let them do their job, and let them make mistakes
- Self-education: Feed your mind to give it new ideas and fresh perspectives
- Be a leader, delegator, and motivator; don’t be afraid to give up control
- Hire or learn from the best to fast track your success and cut your learning curve
- Let somebody else do it, so you can focus on finding and doing more deals
- Get capital and funding to start by having businesses provide cash flow to invent
- Relationships in Real Estate: Deals and opportunities come to you
- Wisdom and Awareness: What you know now vs. what you didn’t know then
- Work Ethic: When I’m in, I am all in; dig in and get dirty
- Set up yourself, your staff, and your business for success
- Find a building, reimagine it, and bring back the neighborhood
- Greg’s Advice: Go out there and find the biggest deal you can and call Corey
Links and Resources Mentioned:
- Greg Dickerson
- Greg Dickerson’s Email
- Greg Dickerson’s Phone Number: 434-326-3903
- Rich Dad Poor Dad by Robert Kiyosaki
- Kahuna Boardroom Webinar
Quotes:
“I’m really good at discerning people and finding champions and coaching them to success. It’s been my business philosophy all through my life.” Greg Dickerson
“You’re feeding your mind and just giving it new ideas, fresh perspectives, and that’s really how you are able to probably lead so well.” Corey Peterson
“I have no trouble at all letting go of control. I’m a very good delegator. That’s my superpower.” Greg Dickerson
“Relationships are key. That’s actually the most important thing in life. The only thing you can take out of this world with you is somebody else’s soul.” Greg Dickerson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Single-family stuff is for losers. Commercial real estate is the way to go. Make real money in this business through apartments, buildings, or self-storage. Everybody needs space to store their stuff.
Fernando Angelucci is the self-storage king. He was wholesaling single-family and multifamily houses, but realized the cash buyers he was selling the properties to were making more money than he was as a wholesaler. Fernando found out that all his issues could be solved by investing in self-storage. Now, he’s making a lot of money.
Topics on Today’s Episode:
- Lessons Learned from First Deal: Crooked contractors, inspection issues, and making less money than expected
- We call that experience; no book will ever prepare you
- Hint: If you're going to go to college, pay attention and hangout with everybody; they make good partners and investors later on
- Pioneers vs. Partnerships: If you do it alone, you're the pioneer and get arrows in your back; partnering makes it easier, and they have systems/processes
- Know what you are good at and not so good at; partner with people who have strengths that are your weaknesses
- Fernando’s wholesaling business now runs on automatic - thanks to processes and procedures put in place
- Two Sides: Conflict of interest and residential rental laws; never do anything that’s not above board
- Getting fed up with constant rotation of contractors and evicting tenants
- Scott Meyers talking about self-storage: "Triple-digit, cash-on-cash return"; Fernando fell in love with it immediately
- Self-storage is a recession-tolerant asset; people downsize because of the economy or life choices, but don't want to get rid of sentimental items
- High sticky factor, low break-even occupancy because of low total expenses
Links and Resources Mentioned:
- Fernando Angelucci’s Cell Phone Number: 630-408-8090
- Titan Wealth Group
- Rich Dad Poor Dad by Robert Kiyosaki
- DiSC Profile
- Myers & Briggs
- Traction by Gino Wickman
- Scott Meyers of Self-Storage Investing
- National Association of REIT
- The Miracle Morning by Hal Elrod
Quotes by Fernando Angelucci:
“People assume that if something is going to have very low risk, it's also going to have a very low capital return. That's the opposite for self storage.”
“Go to college because degrees are good to have, but the real importance is the network you build.”
“I'd rather focus on making my strengths even better than trying to bring my weaknesses up to mediocre. It's just a waste of my time.”
“I love to share my knowledge with people because it always comes back tenfold.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Are you a real estate investor who doesn’t have enough time to focus on money making activities to close more deals? Then, it’s time to automate your marketing to scale and grow your business.
When it comes to marketing automation processes and getting people leads, nobody does it better than today’s guest, Gary Boomershine. He created REIvault, which provides real estate investors with managed systems, resources, and processes. Gary shares valuable secrets and lessons learned to become successful.
Topics on Today’s Episode:
- Avoid mindset and philosophy that all leads suck; seller appointments can be generated from crappy, junk leads
- Don’t get stuck in quicksand by spending too much time seeking the best, cheapest, popular options
- Don’t reinvent the wheel; find what works and replicate it
- Get a good coach and join mastermind groups to learn and grow
- REIvault offers a shared team that gets the seller on the phone, qualifies them, and schedules the appointment
- Reasons why direct mail does and doesn’t work for finding apartments
- Inside Sales Agent (ISA): Trained person who does nothing, but kiss frogs all day
- Cold Calling: Best leads don’t come from picking up the phone, but from those you call who are not interested; money is in the follow up
- Two Functions of Money: Make offers to sellers ready, willing, and able to sell; and constantly raise money for deals to come to you
- Follow cash flow marketing funnel and best practices; doing it all vs. done for you
Links and Resources Mentioned:
- REIvault
- Accenture
- Arthur Andersen
- Collective Genius - Real Estate Mastermind
- Podio
- Joe McCall
- PATLive
- InvestorFuse
- Sean Terry
- Doing it all on your own vs. done-for-you
- ListSource
- CallRail
- Call Porter
- Slybroadcast
- IDI
- TLO
- Brad Chandler from Express Homebuyers
- Cris Chico
- Dan Kennedy
- Better Business Bureau
- Traction: Get a Grip on Your Business
- Randy Taussig (EOS Coach)
- Clint Bartlett
- Corey Peterson’s YouTube Channel
- Kahuna Wealth Builders on Facebook
Quotes by Gary Boomershine:
“The money is in interacting with sellers.”
“If you have a philosophy that all leads suck...from a lead perspective, it’s like any other business. It’s like having a big pot of what looks like rocks.”
“Like-minded people with the highest ROI, it’s the lowest risk because you’re going to be with people that are going to share the real things.”
“Cold calling and direct mail together is lethal.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Most people don’t have a business that serves them. Instead, they run around crazily because their business is making them do lots of things. And, that’s not necessarily what they really want to do.
Today, my guest is Ron Phillips, founder and CEO of RP Capital. He has an amazing business and is ranked in the top 25% of the Inc. 5000. Ron describes how he mastered the way of doing business, how he conducts himself, and how his business serves him. Ron truly lives his life by design.
Topics on Today’s Episode:
- Millionaire Seeks Real Estate Apprentice: Ron showed up for big pitch fest for a bootcamp and bought it
- Ron became jaded with the seminar world and millionaire’s pitch: If I go find the deals and do all the work, he’ll fund them, and we’ll split them 50-50
- Ron did what he was taught - found a perfect deal, submitted it, and it was denied; the millionaire taught him how to do it, so “why do I need him?”
- HUD changed its guidelines, and Ron had houses he couldn’t sell; he was out of business and reinvented himself in the rental business
- RP Capital finds and fixes homes, puts renters in them, and helps people buy and get good deals
- Multifamily rules haven’t changed, some have gotten better; you don’t need tax benefits to succeed
- Real estate market will stall or stop at some point, so people who do it for tax deductions will have to pay; too many people are buying skinny deals
- Information gurus and guides try to sell you something, not train or protect you to make sure you do it right; all they want is your money
- Sales and negotiation are not taught; Ron was successful because he already had those skills; he gives away education - you only buy real estate from him
- Get Real (estate) Podcast: Educates people on the good, bad, and ugly parts of real estate business and life
- Self-made vs. Team: You can’t go do anything by yourself in this world; treat your team like you want to be treated with dignity, respect, and kindness
- RP Capital’s Purpose: Build people through services; company’s core values are integrity, loyalty, own it, and fun
Links and Resources Mentioned:
- RP Capital
- Get Real (estate) Podcast
- Inc. 5000
- Rich Dad’s Guide to Investing
- The Millionaire Mind
- HUD
- The Devil’s Advocate
- Collective Genius
- David Lindahl
- The Compound Effect
Quotes:
“I went out and found a perfect deal, exactly like what he taught us to do. Submitted it, and they denied it. I realized something. He taught me how to do it. Why do I need him?” Ron Phillips
“We had all these houses, and then I couldn’t sell them. I got shoved into the rental business. I finally realized...that this rental thing was not such a bad gig.” Ron Phillips
“That’s what I do in my current company. We help people invest all over the country, and it’s been so much fun changing people’s lives that way.” Ron Phillips
“The government can make the rules better, or they can make them worse. You don’t have to have the tax benefits to succeed. That’s just...a really big fat bonus.” Ron Phillips
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Have you always dreamt about being in real estate? Were you lured into spending $1,000 after seeing an ad on TV that promised to teach you about it? Only to find that you would have to spend an additional $20,000 to get the real stuff?
Debbie Camacho-Franco learned that the hard way. She decided to build a real estate business, but discovered that traveling, marketing, and educational trainings add up. Before investing any more of her money, she wanted a sure thing. Luckily, she found me and the Kahuna Boardroom. If you want to get into multifamily, you don’t have to start wholesaling or continue rehabbing. Just go for it.
Topics on Today’s Episode:
- Power of Connection: Network and find out who’s who
- Kahuna Boardroom attendees want to do something to change and grow
- Mentors helped Debbie learn how to manage people in the corporate world
- Corporate world experience allowed Debbie to build her own business
- Debbie considers her mother an amazing human being and the reason why she’s so driven professionally to be able to take care of those she loves
- Corporate America: Way to make a living, but company gets the profits; at the same time, transition to be your own boss and start your own business
- Spend-selling means asking situational, problem, impact, and pay-off questions to tell a story and paint a picture that motivate people
- Self-selected investors and partners should like and trust each other before making a commitment
- Most people want freedom and time, but don’t have either or only one; the solution is to invest in multifamily apartments
- Raising Money and Momentum: What it feels like to get your first, “Yes”
- Being true to herself is one of the main principles that Debbie lives by; it reconfirms her attitude and character
- Debbie loves to help and mentor others, so she brings together people who want to learn about multifamily investing
- Visualize: When you start to believe in it, you can achieve it
- Stay focused during moments of self-doubt; “No” means for right now, not forever
- Real estate isn’t always a solopreneur sport; get support from a partner
- Don’t let anything stop you from pursuing your dreams; entrepreneurship is as much about failure as success to be able to grow and learn
Links and Resources Mentioned:
- Debbie Camacho-Franco on Facebook
- Debbie Camacho-Franco’s Phone Number: 214-919-4626
- Debbie Camacho-Franco’s Email Address
- Franco Acquisitions
- Investor Fuel
- Kahuna Boardroom
- Raising Private Money Course
- Coach Wooden’s Leadership Game Plan for Success
Quotes by Debbie Camacho-Franco:
“To be a good leader, you have to be a good listener. In order to be a good listener, you have to ask lots of questions.”
“When you focus on something, you get what you focus on.”
“Whenever I talk to my mentees and they tell me about their successes and everything, that’s what I love the most, to see people grow.”
“I believe that it’s better to trust and be disappointed occasionally, than to always mistrust and live a miserable life.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
This is the last one in the Six Pillars to Profits series. Pillar 6 is the Secrets to Being a Great Operator. How can you make phat money in deals to get some paydays?
I’m going to give you some of my successful secret tips and tricks. If you do these things, you can get a lot of juice that’s worth the squeeze!
Topics on Today’s Episode:
- Operations is where you go to make money; don’t manage your own companies
- Do’s and Don’ts: Questions to ask management companies to determine if they have systems and processes in place:
-
- How do they take tenant’s money?
- How do they do ACH?
- What’s the lease-up process? Is it written down?
- What’s your training process? How do you train your employees? Is it online? Is it offline? Is it both?
- Do you require your manager and your maintenance person to live on the property? Or, do you want them off property?
- What accounting systems do they use? Is it Yardi? Is it Rent Manager? Is it AppFolio?
- What do you think the #1 thing is to generate profit or money at the property?
- Ask situational questions: “Tell me about a time…”
- Putting together a deal involves partnerships, structures, and knowing your operating agreement
- Communication Reporting/Accounting: Get reports of complete financials from your management company every month
- Management Styles: Avoid one-to-one relationship; use straight vertical line where different people in different situations deal directly with your property
- Don’t be in a hurry when doing repairs, be patient; always look like you’re doing something on the property - do little things that make a big difference
- Typical management company charges you 3% to 6% in fees
- Management companies do most of the heavy lifting in this business; look for their guidance and cost per door
Links and Resources Mentioned:
- Multifamily Legacy Podcast Group on Facebook
- Kahuna Cashflow Calculator
- Yardi
- Rent Manager
- AppFolio
Quotes:
“Truly, the real profit is made in the operations. I personally believe that you shouldn’t be managing your own companies.” Corey Peterson
“Communications happen directly from the management company to the person that needs to hear it. I believe that’s the best way.” Corey Peterson
“We’re in the people business. The people make the difference. You’ve got to have someone that’s nice and kind, but also knows how to carry a stick and is not afraid to use it.” Corey Peterson
“We’re never in a hurry when we’re doing our repairs. We’re always doing something on the property. Always making it a little bit better, always making it a little bit nicer.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Sometimes, it only takes one deal to become super wealthy in the multifamily space. Today, we’re talking about Pillar 5 - The Secrets to Getting Your Deals Accepted, part of the Six Pillars to Profits series.
How can you masterfully try to get your deals accepted? I share tips and tricks to get brokers to believe in your deals. I’m teaching you how to make sexy cashflow.
Topics on Today’s Episode:
- Broker Mentality: Most brokers are motivated by Hip Pocket National Bank; they’re trying to make a paycheck, but work for free until you close
- Create relationships with brokers and migrate your way to their short list
- Notify brokers when you close a deal, and operate from a place of integrity
- Site Inspection: Do a fact-finding mission; go visit the dirt to and talk to property manager and maintenance person
- What to include in and how to submit a letter of intent (LOI) packet to broker
- Take time to build your team, and be willing to be a partner and share profits; don’t get greedy
- Bios and credibility kit point out that you’re a big deal; we’re good at what we do
- Create version of Proof of Funds for broker
-
of Business vs. calendar days to use in Purchase and Sale Agreement (PSA)
- Don’t rush into deals, speed kills; don’t suffer from shiny object syndrome
- Purchaser’s performance is conditioned upon purchase approval of required items and information
- Make sure they receive everything and sign off on it before starting inspection
- Get deals accepted by seeking price guidance from broker during Call for Offers
- Best and Final: I want this deal! Put finishing touches on deal via price and earnest money changes; be professional when providing additional information
Links and Resources Mentioned:
- 064: The Six Pillars to Profits: Pillar 4 – The Secret of Getting Deal Flow
- 005: How to Get Your Offers Accepted By Brokers
- Kahuna Boardroom
- Kahuna Investments - Our Process
- Robert Kiyosaki
- Colors
Quotes:
“You don’t have to do a crap ton of volume to be like super wealthy in multifamily investing. All you need is one deal.” Corey Peterson
“I’m teaching you how to make sexy cashflow.” Corey Peterson
“Most brokers are motivated by...Hip Pocket National Bank.” Corey Peterson
“I owe it to my investors to do this work. I do not rush into deals. You shouldn’t, too. There’s plenty of deals out there for us all.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
In the multifamily space, we don’t have to go out much or spend a lot of money on marketing to find leads. Finding a deal can be difficult, but deal flow is all about getting brokers to know, like, and trust you.
We’re going to talk about how to get deal flow or potential deals into your system. Pillar 4 - Secrets to Getting Massive Deal Flow is a lot easier than most people realize.
Topics on Today’s Episode:
- Expect to have to look at hundreds of deals to find one great deal
- Find and get deals by building relationships with brokers
- Don’t skip any steps when qualifying, verifying, and validating property details
- Take this to heart: Look at deals through your investor’s eyes
- Money motivates brokers; they work for free until you close
- Brokers find buyers by putting listings on LoopNet (trash can of all deals)
- How to Get Massive Deal Flow Formula:
-
- Go to LoopNet.com
- Search for apartments to find brokers in specific areas
- Subscribe to every broker’s list
- Get brokers to know you and put you on their short list
- Analyze apartment deals that brokers give you
- Call broker to explain why something is/isn’t a deal
Links and Resources Mentioned:
- Kahuna Cashflow Calculator
- 063: The Six Pillars to Profits: Pillar 3 – Secret to Analyzing Phat Deals
- LoopNet
Quotes:
“If you do not look at deals through your investor’s eyes, you’re doing it wrong. You cannot screw your money.” Corey Peterson
“I’m going to burst everybody’s bubble...you’ve got to look at like at 100 deals...to find a great deal.” Corey Peterson
“One deal set me free for the rest of my life.” Corey Peterson
“Brokers want to help you, if they think you can close and get them a paycheck.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Today, I’m going to share some stories about what I did wrong to prevent you from making the same mistakes. Pillar 3 - Secret to Analyzing Phat Deals is often the point where most new investors fail.
They make bad assumptions and become too aggressive. They over promise themselves and their investors. That’s a recipe for failure, not success. It can get you into a lot of trouble. I know because I have failed time and time again, but I try to not make the same mistakes.
Topics on Today’s Episode:
- Pitfalls of broker packets with an offer memorandum (OM); peel back layers to find accurate information to analyze a deal and make assumptions
- Select software (Kahuna Cashflow Calculator) to underwrite and analyze deals
- Most people speed and drive numbers too fast; they overestimate what they can do - be conservative and learn to say, “No”
- Data and due diligence identify if it’s a deal or not, don’t buy based on emotions; utilize Do Not Exceed bids
- Rules of Thumb to Underwrite Properties on Per-door Basis:
- Raised salaries by $1,285; invest in your people
- Increased online advertising and promotion by $200
- Budgeted $800-900 for upkeep and maintenance
- Office admin bumped up $150
- Get an insurance agent to give you a quote
- Verify utilities by obtaining costs for the past three months
- Underwrite cost of taxes going up due to new purchase price
- CapEx: Determine reserves and make adjustments
- Underwrite with 25% down; amortize at 25 years, not 30
- Never underwrite property with higher than 94% occupancy
- Always underwrite concessions at 3%
- Ultimate Underwiring Goal: Under promise, over deliver
Links and Resources Mentioned:
- Kahuna CashflowCalculator
- Robert Kiyosaki (Author of Rich Dad Poor Dad)
Quotes:
“They over promise to the people that matter most - that’s your investor, that’s the money. When you do that, it’s a recipe for failure.” Corey Peterson
“Your experience is the sum of two things: All your successes and, I think more importantly, all your failures.” Corey Peterson
“If you look at underwriting and analyzing deals from the right perspective, it will give you a key to be super successful.” Corey Peterson
“When we really, really want something, we try to make it work.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Let’s continue our journey with the Six Pillars to Profits series. Today, I’m going to talk about Pillar 2 - Secret Language of Apartments. The multifamily world uses a different jargon than the single-family space.
You need to be able to learn and understand the multifamily language to make you feel, sound, and appear credible and confident. So, I’m going to share with you some “magic” words that you need to use when talking to brokers, managers, and banks.
Topics on Today’s Episode:
- Being new and no BS; don’t fake it until you make it
- Gross Scheduled Rents: Annual income of property where all rentable space was rented or collected
- Vacancy: Represents amount of income lost from unoccupied units
- Concession: Copying a unit (i.e., a 12-month lease with the first month free)
- Credit Loss: Non-paying tenant
- Residential Utility Billback System (RUBS): Income received from billing back your portion of water, sewer, or trash
- Total Income: Referred to as capital improvement, CapEx, rehab money, or cost per door to identify how much much money needs to be set aside for property
- CapEx Reserves: Money a bank requires to hold back for capital improvements
- Net Operating Income (NOI): Your income minus your expenses number or cap rate that determines value of property
- Pro Forma: Assumed forecasted or information presented in advance; financial statements of actual statement, if underlying assumptions hold true
- Operating Memorandum (OM): Sales brochure brokers prepare to sell property
- Acquisition Fee (Acfee): Fee that sponsors take for putting together a deal
- Call to Offers: Deadline date to make offers on a property
- Best in Final/Final at Best: You may not have the best and strongest offer, but you want to get through all the other offers
- Pricing Guidance: Information needed to get into the best in final
- Debt Coverage Ratio (DCR): Measure of cash flow available to pay current debt obligations; states net operating income as multiple of debt obligations due
- Deferred Maintenance: Dollar figure when owner or operator avoids regular upkeep of a property or it starts to need work
- Due Diligence: Inspection period of doing physical and financial inspections
- Letter of Intent (LOI): Included when submitting an offer for a property
- Make-readies: Rental unit that becomes vacant; it’s a make-ready until it’s cleaned up and becomes rent-ready
- Plays:
-
- Momentum Play: Stabilized property is taken to make micro repositionings or minor improvements
- Occupancy Play: Unstable property with a high vacancy percentage
- Repositioning Play: Low occupancy and a lot of rehab to bring property to a fresh, new standard
Links and Resources Mentioned:
- Why the Rich Get Richer: The Secrets to Cash-Flowing Apartments
- Kahuna Cashflow Calculator
Quotes:
“When you’re talking with brokers, with lenders, with banks, you want to appear and look confident, that you know your stuff.” Corey Peterson
“One of the easiest ways to make some additional income is to install and start a RUBS program. We do that on almost every property.” Corey Peterson
“What Wall Street loves is a nice steady rising income. If you can accomplish that and then also have no deferred maintenance at the property...that’s called an easy button.” Corey Peterson
“When you master it, things really start to change. Brokers will start to look at you differently because you are becoming a master of the verbiage.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Don’t believe everything that all those information gurus out there teach about multifamily real estate and investing. A lot of them start by showing you how to find a deal. I believe that’s totally wrong and the worst place to start. The ability to raise capital is much more powerful, valuable, and vital to deals.
This is the first episode of my six-part series called, The Six Pillars to Profits. Pillar 1 is Secrets to Raising Private Money. If you are able to raise capital, deals will find you. I’m going to teach you a different way to raise capital that has worked very well for me.
Topics on Today’s Episode: * Corleone Method: If you will find money, deals will come find you; money is always patient and negotiates out of strength * Money is made in the money by procuring capital at the right cost * Avatars: People who have money, and who they are; they who have the money make all the rules * Look for people who are looking for a solid return; do less volume * Majority of people’s wealth (i.e. dumb money) is in a 401(k) or self-directed IRA; most people don’t know they can invest in real estate with their IRA * Investors want exuberant returns via big risks and low expectations; people don’t want to take big risks and hate the ups and downs of the stock market * People like me know how to find great deals on properties that become little factories that write checks and spit out profits * Always sell based on income; raise rents and keep expenses tight to create more income and value * If you want to raise money, the first people to ask are your friends and family * Create an opening “Who am I?” statement for different environments/audiences * Selling the Story: Tell a story or have a conversation and end it with, “How’s the market treating you?” * Schedule a meeting and have them complete an accredited investor form * Bring your Credibility Kit that has a high-end brochure describing your process * 506(b) Rules: Raising money is all about relationships; make sure you serve that capital well because that money in return will serve you
Links and Resources Mentioned:
- Kahuna Investments
- Kahuna Boardroom
- Cashflow HQ
- Raising Private Money Course
- Edward Jones
- The Godfather
Quotes:
“The ability to raise capital is so much more powerful, it’s so much more valuable, and it’s vital to deals. If you are able to raise capital, deals will come find you.” Corey Peterson
“I used to really think that the money was made in real estate. That’s just not true. The true capital, the money is made in the money.” Corey Peterson
“There’s more money out there than you’ll ever know. The one thing I learned...is how much stupid money is out there, and it is searching for people like us.” Corey Peterson
“They will then become your friends. They’ll give you money. They’ll give you referrals. They’ll give you their friend’s friends. It’s something that you should really just cherish.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Have you always had an interest and pull toward real estate? Want to know how to parlay that into passive cash flow? Want to be financially free? Are you intrigued by legacy wealth? Then, you’ve come to the right place!
Today, my guest is Ed Lemus, one of my students who has experienced success. During his real estate journey, Ed became interested in our multifamily content. He attended the Kahuna Boardroom and listened to this podcast. As a result, he has done some amazing things.
Topics on Today’s Episode:
- Kahuna Boardroom focuses on raising capital, finding deals, and operations
- Finding capital isn’t easy for most people; how Ed raised more than half a million
- Create and use a high-quality marketing packet to spark people’s interest
- Never ask people for money, only ask them who they know; ask them to look at your information
- Share your property pitch and overall strategy; ease their concerns by scheduling a conference call to answer all their questions
- Follow-up on potential investors’ capex; set up expectations - deliver on exactly what and how you said was going to happen
- Investors wait for a payment; if that happens, ask them for a referral
- Become the supplier of deals and grower of money; cash flows from people who can't make it work or grow to people who can
- Stock Market Roller Coaster Ride: Most people want something steady instead
- Who’s an avatar? Be clear on who is a profile investor - not those looking for crazy returns, but those looking for consistent and solid returns
- Share the message and tell your story; “By the way…”
- Biggest Takeaway from Kahuna Boardroom: Find someone that you know and trust doing what you want to do; copy or partner with them
Links and Resources Mentioned:
- Ed Lemus’s Email
- Kahuna Boardroom
- Podio
- Zoom
- GoToMeeting
- The Slight Edge
- Why the Rich Get Richer
Quotes:
“I stalked you for a little while on your podcast and just started to immerse myself in the whole multifamily space and learn a little bit more about it.” Ed Lemus
“Rule #1 is never ask people for money. Only ask them who they know. In other words, ask them to look at your information.” Corey Peterson
“I always say the right people will come into your deals, and the wrong ones will repel themselves.” Corey Peterson
“Here I come with my cape and everything to solve the problem for them. It's really become where it makes me feel great, where it's more of a service that I'm providing.” Ed Lemus
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Do you have the right mindset to push through fear? Step outside of your comfort zone? Take massive action to build the life of your dreams? Then, forget about getting a college education. Get your broker’s license and become rich in real estate!
Just like today’s guest, Rod Khleif, who has the top ranked real estate podcast called, Lifetime Cashflow through Real Estate.
Topics on Today’s Episode:
- Psychology to Success: Success in anything is 80-90 percent your mindset and psychology, and only 10-15 percent of real estate information
- Logistics can cause you to crash and burn your cashflow portfolio
- Visualize to manifest what you want
- Goal Setting Process: Identify, clarify, implement, and achieve everything you want to do, be, or have:
-
- What you want
- What you want to learn
- Who you want to help
- Failure can be painful, but motivates you to never do something again
- I am…remain consistent with how you identify yourself
- Happiness comes from progress and growth, not the ultimate outcome
- Difference between success and fulfillment; focus on others rather than yourself
- Morning Routine: Take one minute every day to be grateful for what you already have and what you want
Links and Resources Mentioned:
- Rod Khleif’s Lifetime CashFlow through Real Estate Investing Podcast
- How to Create Lifetime Cashflow Through Multifamily Properties (text Rod to 41411 for free copy)
- Tony Robbins
- Jim Carrey Tells Oprah How He Visualized $10 Million Dollars
- How Walt Disney Took Influence From the 1964 World’s Fair to Create Epcot
- Elon Musk
- Grant Cardone
- Zig Ziglar
- Dale Carnegie
- Tim Ferriss
- The Miracle Morning Book
Quotes by Rod Khleif:
“Success in anything is 80 to 90 percent your mindset and your psychology, and only 10 to 15 percent the real estate stuff we talk about on our podcast.”
“Everything starts with gratitude.”
“Don’t underestimate the power of visualization.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Today, my special guests are Cory Boatright and Sean Terry, who were two of my partners from the very beginning on the University Crossings deal.
This is the last part for the series regarding University Crossings. We share what went wrong, what went right, and how we overcame obstacles that are often part of multifamily transactions.
Topics on Today’s Episode:
- Ups and downs of deal included asking for money from investors, stressful deadlines stressful, and people making excuses
- Learning curve on due diligence, occupancy, and other factors that affect loans
- Multifamily Investing Model: Deal must cash flow from point of acquisition
- Protect investor capital at all costs because of possible risk and intolerance involved in some deals
- Utilize Cash Flow Calculator to help analyze deals
- Property can look good on paper, but a site visit may change your outlook
- Fact-Finding Mission: Ask the right questions to determine a property’s potential
- Deals are not driven by price, but potential NOI and cash flow
- Offer Process: Get lead, do due diligence, visit property, and submit Letter of Intent (LOI); costs more, but makes you more apt to make the deal happen
- Closing delayed for various reasons - occupancy rate, seller coma, financing, etc.
- Create and present a marketing package that excites investors about property
- Investor’s Top Concerns: Is my money safe? How and when am I going to get my money back?
- Choose partners that you can trust and learn from; find commonality to find deals
Links and Resources Mentioned:
- Coaching from Cory Boatright
- Real Estate Investing Profit Masters
- Sean Terry
- Kahuna Cashflow Calculator
Quotes:
“We took it (University Crossings) on together, and we kicked it in its butt. But, it wasn’t without its ups and downs.” Corey Peterson
“Your (Corey) model is it has to cash flow right from the point of acquisition.” Sean Terry
“Protect investor capital at all costs.” Cory Boatright
“The only way you’re going to increase occupancy is lower rents. If that’s the model, that’s not a good model.” Sean Terry
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
What happens when you sign the dotted line and officially go under contract? That doesn’t mean it’s a done deal. You’re not out of the woods yet because there’s still a lot of moving parts to manage.
Here’s part 2 of 3 regarding my University Crossings deal. I share what went wrong, what went right, and how I overcame obstacles that are often part of multifamily transactions.
Topics on Today’s Episode:
- Receive required items/documents identified on Purchase and Sell Agreement (PSA)/Letter of Intent (LOI) from seller
- Seller’s Coma: Seller is unmotivated to give you details due to poor record keeping or they’re trying to hide something
- Establish site visit and physical inspection to rate/asses property’s major systems
- Give all vendors the same instructions; ask them for a fair and do-not-exceed bid
- 45 calendar days for due diligence and another 45 calendar days to close
- Perform financial audit of property’s current leases on file
- Engage a lender to get a loan for the property based on occupancy percentage; loan is in jeopardy and extension may be needed if percentage isn’t maintained
- Owner should never try to negotiate with a broker or seller; let others talk for you
- Lack of communication between all parties involved causes problems and delays; request phone conversation with seller to offer clarification
- Concessions may be necessary, even if something is not your fault; you’ll end up making that money and more back
- Lender isn’t ready because they did not process the loan to close on the property, which put me at risk of losing money
Links and Resources Mentioned:
- Freddie Mac
- Fannie Mae
Quotes:
“Our due diligence does not start until they have delivered it...we have to sign off and say that they have delivered all items.” Corey Peterson
“Do not think we’re stupid. We want you to be fair. We want you to be upfront, and we don’t want you to think that you’re just going to get rich off of us.” Corey Peterson
“Negotiation - everybody goes in with a gun, but no one has any ammo.” Corey Peterson
“We had leverage at this point, and leverage, my friend, is very, very vital to being a good operator.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
What happens in deals? There’s usually some bumps along the way. They don’t go perfectly, but they usually go on to close.
This is the first of a three-part series where I break down the details of what happened with my University Crossings deal. I share what went wrong, what went right, and how I overcame obstacles that are often part of multifamily transactions.
Topics on Today’s Episode:
- How to find a deal? Broker relationships
- What to Look For: Numbers, stable cash-flowing properties that need little work
- Set a Goal: Increase occupancy or/and raise rents
- Manage costs when spending money; seek higher than average maintenance
- Use Residential Utility Billback System (RUBS) to its full potential
- Reduce office admin costs to save significant money
- Underwriting: Key to finding good deals is that you must be willing to do the work
- Site Visit: What surrounds the property? Who’s in the area? Is there much crime?
- Rookie investors make mistake of submitting offer before setting foot on property
- 90% of the game is to get brokers to know, like, and trust you
- Occupancy rates help determine financing options
- Do a CapEx budget (rehab money) per door
- Win bid by stacking/leveraging deals and submitting Letter of Intent (LOI) packet
- Ask broker for pricing guidance to get invited to “Best and Final” round
- Identify seller’s hot buttons: Price, surity of close, etc.; call broker to get the price you need to use to be competitive and win the deal
- Avoid agreements via email and seller’s purchase and sales contract; get them to sign your LOI to confirm that they agree to everything in your language
- My Challenge to You: Be in pursuit of both time and money via commercial and multifamily real estate; cash flow is the new sexy
Links and Resources Mentioned:
- Kahuna Cashflow Calculator
- Freddie Mac
- Fannie Mae
Quotes:
“Underwriting: The key to finding good deals is you have to kiss a lot of frogs. You just got to be willing to do the work.” Corey Peterson
“We go to the property, and we do a site visit. Things can go from good to bad quickly.” Corey Peterson
“They’re not willing to go visit the dirt. You have to be really willing to visit the dirt...before you actually make an offer.” Corey Peterson
“90% of the game is to get brokers to know, like, and trust you, and to be a part of your team.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
What’s your story? Does it communicate a vision and inspire others toward greatness? Most successful investors follow the same path. They get to a point where they’re ready to commit to something different. Take a risky leap, to reap the rewards!
In this episode, I talk with Tamar Mar, who shares an incredible and unique story about how she started in multifamily investing. She enjoyed helping others grow their businesses, but knew she could start her own business. So, Tamar left the corporate world and now uses the tagline: I was really keen on becoming the CEO of my own dreams.
Topics on Today’s Episode:
- Commit to starting and planning a multifamily syndication business - not a hobby; share your goals, but don’t let others bring you down
- Start small and build up confidence; don’t necessarily need to land a big deal to grow at a reasonable rate and build off successes
- Trend in marketplace where multifamily, cash flow, and apartments is the new ‘sexy’; this is both good to attract attention, but bad due to a lack of experience
- Don’t spend money on advertising or waste time on marketing; get the most bang for your buck by building relationships and friendships - treat them well, be loyal
- No downtime or time for disappointment; only time to get back in the saddle, look at other deals, and put in a lot of effort - persevere despite exhaustion
- Underwriting has changed slightly to prepare for shifts in the industry due to rising interest rates and not being able to refinance
- Raise capital by talking to people and using under promise, over deliver concept
- Difficulty to raise rents, but not lose tenants; be flexible and transparent
- Communicate and learn from mistakes to know what to do differently in the future
- Hard to find property manager who cares about your property as much as you do; ask “tell me about a time…” when interviewing potential property managers
- Transitioning from single to multifamily to reach goals sooner and do what you want in life
Links and Resources Mentioned:
- Investing for Life Podcast
- Marota Group
Quotes:
“There’s a trend in the marketplace right now where multifamily and cash flow and apartments is the new ‘sexy’.” Corey Peterson
“I was really keen on becoming the CEO of my own dreams.” Tamar Mar
“I’ve having a blast with what I’m doing. It’s super fun.” Tamar Mar
“When they’re successful, I’m successful. When I’m successful, they are. So, we just all help each other out.” Tamar Mar
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
It doesn’t matter whether you’re looking for multifamily, apartment buildings, single-family, town homes, duplexes, or land deals. If you become good at finding discounted properties, you will quickly become a multi-millionaire.
Wholesaling is the art of consistently finding discounted deals. Tom Krol should know. He’s the “King of Wholesale” and teaches others how to be successful in the wholesaling business.
Topics on Today’s Episode:
- Wholesaling isn’t complicated, it’s easy; don’t need to know about real estate
- Anyone can do wholesaling, just need focus, simple instructions, and clarity
- 3 Things to Choose From a Wholesale Deal: Speed, price, and convenience
- Coaching is to get someone to push you and help you gain confidence
- An overnight success is someone who work hard, persevered, and was determined to make it happen
- Instruction is key with wholesaling; results are your education
- Give back based on what you’ve done and learned to prevent others from making the same mistakes
- Be passionate about succeeding or die trying; when you want something badly, you’ll do what it takes to make it happen
- 3 Elements of Belief: Trust coach/mentor, trust the program, and trust yourself
- Be open minded and intentional for things to come that will change your life
- Have a business that is servant to you, instead of a job that you serve - put a cap on your financial aspirations; is anyone happy with money and nothing to do?
Links and Resources Mentioned:
- Wholesaling Inc.
- Wholesaling Inc. Podcast
- Todd Toback
- Rhinoceros Success by Scott Alexander
- Collective Genius Mastermind
- Sean Terry
- The Four Spiritual Laws of Prosperity by Edwene Gaines
- Robert Toru Kiyosaki
- Jason Medley
- Gary Keller
- Jim Rohn
Quotes:
“The first thing of any good deal is how to find a good one.” Corey Peterson
“Wholesaling is the art of consistently finding discounted deals.” Tom Krol
“What we lack in smarts and booksmarts, you make up for on sweat equity. That’s the secret to everything - work hard.” Tom Krol
“To have a business that is a servant to you, instead of a job that you serve, the #1 way to create that is to put a cap on your financial aspirations.” Tom Krol
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Being a realtor is a great way to make a living. But when you start out, you suffer from “commission breath” because you have to beg for a listing or buyer. Making sales is much easier when you’re an investor. Wholesalers are overpaid realtors. You make more money because you can wholesale to other investors and list their fix-and-flips. Don’t get stuck being a realtor.
Today, my guest is Kris Ontiveros, a.k.a. Cashflow Kris. He started out as a realtor, and then became a real estate investor focusing on apartments. Kris co-hosts the Flippin Fridays/AZ Flip Guys show with Brayand Ponciano. They're two ordinary guys doing extraordinary things.
Topics on Today’s Episode:
- Realtors only get 3% of a deal - table scraps to be at someone’s beck and call
- Current market stats look good, but numbers are trending in the wrong direction; list price to sale price is going down and days on the market are going up
- Such stats lead to future opportunities; it's going to be easier to raise money
- Paying too much for a property doesn’t make financial sense; it's like a house of cards just waiting to tumble
- Kris is basically a fundraiser; deals just flow in without doing any marketing because his network simply hands him off-market deals
- Kris has done many deals with private lenders and returns their money; long-term financing a project leads to them being ready to fund his next deal
- Smile and dial, shake hands, and kiss a lot of babies to get to know capital; people give you money because they have a professional relationship with you
- Cash flows from people who can't handle it to people who can make it grow; money is always looking for a home and dealmakers
- When people ask: "How much is your minimum investment?" have a bold and brazen number in mind
- Never take someone's last dollar - they become a problem and a pain for you
- Trade up your money; everybody's climbing a ladder and looking at something, so climb as fast as you can
- Cash flow is the goal and the future of multifamily is bright; even if money from multifamily slows down, keep a foot in the door until you get enough cash flow
- Be careful because real estate is sexy, but lot of work - know what you're doing by mimicking or partnering with a pro
Links and Resources Mentioned:
- Kris Ontiveros on Facebook
- Flippin Fridays Podcast
-
FlippinFridays Episode 72 - Talking with the One and Only Corey Peterson about Raising Money and Buying Apartment Complexes Nationwide!!
- Flipping Fridays Episode 40: With guest Corey Peterson with Kahuna Investments
- AZ Flip Guys on Facebook
- Kahuna Boardroom
- Brayand Ponciano on Instagram
- Than Merrill
- FortuneBuilders
- Dave Lindahl
- Edward Jones
- Jack Bosch
- Boiler Room
- Gene Guarino - Residential Assisted Living Academy
- My Life & 1,000 Houses by Mitch Stephen
Quotes:
“Real estate is so amazing. There are so many different ways to make money in this business. We know that we're just straight up fundraisers at this point.” Kris Ontiveros
“As long as I'm financially free, as long as the bills are being paid and there's checks coming in every single month, I'm going to be hppy.” Kris Ontiveros
“The goal is cash flow. That's what I want.” Kris Ontiveros
“There's going to be some blood in the streets. There's going to be some opportunity coming.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
When it comes to multifamily real estate and cash flow, Brayand Ponciano is all in - now. But he knows he made a mistake when he didn’t listen to me five years ago about raising money, instead of fixing and flipping. Brayand learned his lesson and shares what he knows about everything related to real estate on the Flippin Fridays/AZ Flip Guys show with co-host Kris Ontiveros.
Plus, there’s still time to help some kids, including my son, experience a once-in-a-lifetime opportunity. Please consider donating to the Sendtheteam.com fundraiser, where funds will be used to send a youth football team, along with their coaches and chaperones, to Florida to play in the Tackle Football National Championship.
Topics on Today’s Episode:
- Don’t judge a book by its cover because Brayand judged me based on my looks, not my knowledge; be authentic - make no apologies for who you are
- Brayand believes the value of the Kahuna Boardroom comes from the lessons I teach and the experienced people I include
- Pitching is Work: There’s a way to do it, and there’s a way not to do it
- Boardroom inspectors and property managers gave Brayand tips on how to renegotiate deals to save money
- Build relationships with vendors and contractors to get better deals
- Pros and cons of Section 8 (low-income) and C-class housing
- Brayand doesn’t buy distressed properties, he buys properties from distressed owners who don’t know how to manage them
- Automation is vital for property management; Brayand uses AppFolio and ACH
- Be strict/firm because if you give someone an inch, they’re going to take a mile
- 2-Step Tenant Program: Don’t fk with my money; don’t fk with my property
- Management Tip 1: Treat people the way you would want to be treated
- Management Tip 2: Don’t rely on people to know what you’re thinking or how you want things done; document processes and procedures
Links and Resources Mentioned:
- Brayand Ponciano on Instagram
- Flippin Fridays Podcast
- AZ Flip Guys on Facebook
- 016: Building Your Legacy From the Ground Up
- Kahuna Boardroom
- Why the Rich Get Richer - The Secrets to Cash-Flowing Apartments
- Sendtheteam.com
- Gary Vaynerchuk
- Jack Bosch
- Flip Houses Like Burgers: With No Money Or Credit
- Nasar El-Arabi
- Secret Knock
- AppFolio
- Automated Clearing House (ACH)
Quotes:
“Collecting money is the business of apartments.” Corey Peterson
“The one thing that I value more than anything in anybody is authenticity.” Brayand Ponciano
“One of the things that I love most about the Kahuna Boardroom is that it really emphasizes automation.” Brayand Ponciano
“It’s all about filling the need for what people need.” Brayand Ponciano
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Stop what you’re doing because I have a big announcement! Would you like to help some kids, including my son, experience a once-in-a-lifetime opportunity? Kim Green, business manager for a youth football team, is doing a fundraiser to generate money to send these kids, along with their coaches and chaperones, to Florida to play in the Tackle Football National Championship.
Now, let’s get down to business. Today, my guest is Sterling White, who has produced an abundant amount of content focused on the multifamily industry. He remains consistent, even when someone “kicks him in the mouth” because they’re not ready to sell!
Topics on Today’s Episode:
- Find deals by going off market and through direct sellers/decision makers
- Commercial brokers are doing the same work; just beat them to the punch
- Difficult to get accurate and complete financials; figure out income/expenses
- Outsource work and tasks; find freelancers/contractors via Upwork
- Direct mail and small gifts serve as a follow-up mechanism to engage decision makers; Sterling may send them a Rubik’s Cube and say, “Let’s figure this out.”
- Easy Button: Sell for more money through concise financials and deferring
- Even if owners are ready to sell, it can be difficult to get under contract with them
- Provide value and education as part of follow-up process
- Sterling’s tool, Syndication Pro, helps you facilitate and raise private money
- Make it simple for investors to access data; professionalism leads to more money
Links and Resources Mentioned:
- SyndicationPro
- Sterling White
- BiggerPockets
- Sendtheteam.com
- Upwork
- IMS
- Merrill Lynch
Quotes:
“The biggest obstacle is getting through the gatekeeper, which often times is the property management company.” Sterling White
“I’ll actually send a Rubik’s Cube, and it will say, ‘Hey, let’s figure this out’.” Sterling White
“You want brokers to know you, like you, trust you, and become your friend.” Corey Peterson
“In the age of raising capital, it’s all about perception. Perception is reality.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
How can some of the worst years of your life be when you manage hundreds of properties in colorful Colorado? It’s because you have to deal with tons of different tenants (and their kids and dogs), collect rents...it was a nightmare for Rondi Lambeth. So, now, he focuses on multifamily apartment complexes, which are easier to handle.
Rondi is the founder of Fortress Credit Professionals and a real estate investor. He makes money in the credit repair business and then invests about 70% in multifamily properties.
Topics on Today’s Episode:
- Rondi has a rags to riches story - going from living in a home without electricity or water to buying his first home when he was 18
- Single-family properties are sexy, but a lot of work
- Raising capital involves rules and relationships; there’s more money than you know about out there and it gets easier to get it thanks to believers
- Mentors make a difference and help you reprogram yourself to be successful
- Asking for capital doesn’t involve selling - only offers opportunities
- Stay Broke: When you have enough money to do another deal, spend it all; keeps you hungry
- Be smart, don’t pay taxes; if you do want the government wants you to do (be wealthy), then you don’t have to pay taxes
- Owners make the big decisions and manage the people who manage the people
- It’s much easier to become wealthy if you have good credit; banks will throw money at you
- 300-850 is the FICO range; 300 means 30% and 850 means 85% chance of bank being paid back
- Regardless of what’s on your credit file, anything can be removed from it
- Personal Life: Pay off credits cards in full every month; Business Side: Leverage credit card debt responsibly based on cash flow
- Differences between Corey’s business and a real estate investment trust (REIT)
Links and Resources Mentioned:
- Rondi Lambeth
- Rondi Lambeth on Facebook
- Rondi Lambeth on Twitter
- Rondi Lambeth on LinkedIn
- Rondi Lambeth on Instagram
- Fortress Credit Professionals
- Rondi Lambeth on Brad Lea’s Podcast
- Grant Cardone
- The Richest Man in Babylon
- Jared Kushner Paid No Federal Income Tax for Years
- FICO
- Dave Ramsey
- Warren Buffett
- Dairy Queen
Quotes:
“It’s so much easier to become wealthy with good credit.” Rondi Lambeth
“I don’t know why anyone would do single family. It’s sexy. I don’t care about sex anymore. I’m lazy. I don’t want to do all that work.” Rondi Lambeth
“The moment you have enough money to go do another deal, spend it all because then it keeps you hungry.” Rondi Lambeth
“They call it cash flow for a reason. It flows out of people’s hands that can’t handle it, and it flows into people’s hands that know how to make it grow.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
I’m going to share some pain stories to stress the importance of structuring deals and having great people surround you.
You can make multi-million-dollar deals, just like me. But I must admit that deals do not always go smoothly. After all, this is real estate, and anything can happen. So, you need to have a great legal team, which can make or break you in this business.
Topics on Today’s Episode:
- Who should be on your legal team? What should they do?
- Don’t be billed by the hour, set up fixed pricing
- Leverage: You have it, or you don’t
- Value of history of closing
- You can’t control how others (i.e. lenders) work and affect your deals; they work at their own speed and don’t care about your contract
- University Crossings Deal: Number of leases required for 90% occupancy not reached for the lender; seller caused harm, extensions/expenses were needed
- Catalina Village Deal: Lenders can mess up deals and delay the loan process
- When things like this happen, cover your bases
- Puppet Master: I’m in my cubby hole, unless a grenade needs to be dropped and crap needs to get done
- I’m extraordinary at finding the right people; my team pulls together to complete deals and make me look good
Quotes:
“Legal teams can make or break you in the business.” Corey Peterson
“In this business - it’s real estate - anything can happen.” Corey Peterson
“When things like this happen, you’ve got to cover your bases.” Corey Peterson
“The only thing that I would say I am extraordinary at is that I know how to find the right people.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Do you believe in yourself? What matters most to you? Money? A job? Car? There's two things that most of us crave in life. One is time, and the other is money. But what really matters is, life.
I couldn't have imagined what my life is like today. I started from nothing and went to a place where I make an extreme amount of money. I've tried to keep myself as grounded as possible, in family, friends, and things. But for so much of my life, I doubted myself. I never thought I was worthy of anything or anyone. You may be doubting yourself. That’s natural. It happens. Don't be afraid of it. The trick is that you've got to move away from self-doubt and limiting beliefs.
Topics on Today’s Episode:
- Feed your brain and mind to grow; read books and listen to others
- Once you get to the point where you start to know who you are, then accept it
- Don’t compare yourself to others to only let self-doubt creep back into your life
- Stay true to yourself; can be hard to do because of social media makes it easy to be someone that you're not
- Have dreams, goals, and hopes, but don't be common; be extraordinary
- Do you suffer from the “what-will-people-think” button?
- Make no apologies - freedom that comes with this mindset lets you be authentic; although sometimes in life, you have to play the part, but remain true to yourself
- Do people like, know, and trust you? You will attract the right people and repel everybody else
- You don’t need to be the sharpest tool in the shed, but know how to find sharp people; you don't have to be the master of all things
- Toot your own horn, but don’t brag; don't be ashamed of making money and telling the story of your company's success
- Do you have to feel important, but it’s easy to feel unimportant? Find and focus on your uniqueness
- No company will ever pay you what you're worth, so choose to be your own boss and start a company; real estate requires the least amount of time
- Copy your way to success, but also find mentors and ask for help to avoid mistakes
- Tell yourself every day that you can be or do something; don't ever quit because quitters never win
Links and Resources Mentioned:
- Kahuna Wealth Builders Boardroom
- I Can Only Imagine
- Tony Robbins
- Zig Ziglar
- How to Win Friends and Influence People
Quotes:
“Start believing you can. Start telling yourself each and every day that you can because, eventually, you will. Don't ever, ever quit.” Corey Peterson
“I'm just me. Frankly, what you see is what you get.” Corey Peterson
“I have dreams, goals, and hopes. I don't want to be common. I want to be extraordinary.” Corey Peterson
“Your company is in business to make money so you don't ever have to be ashamed of making money and telling the story of your company's success.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Being successful is a choice. If you're just doing it for the money, it's not a big enough reason why. You've got to do it because you enjoy or like the real estate process. It's got to be a passion.
On today's episode, I talk about raising private money and how a lot of people do it the wrong way. Who is going to give you the money at the right cost? When I talk about raising private money, the goal is, "How do you attract capital, people who have money? How do they give it to you? How much does it cost?"
Topics on Today’s Episode:
- Cost of capital is a big deal; take care of your capital, make it money, make it grow, and you will get lots of people to give you lots of money
- Private Money Ponds
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- Big Fish Pond: Where all the big fish are located; a big whale - someone who has lots of money, are aggressive, but never shows up
- Real Estate Investors Pond: Approach other real estate investors who are making lots of money; pay a Six-and-Six (6% payer and 6% backend pay)
- Consistency of the return makes the most sense; good financial advisors give you a range from 6% to 8%
- Pond or avatar that works well for me is the multifamily space, where there’s trillions of dollars; I crush the stock market because I offer a better return
- Most people have a 401K to store their retirement money; at a certain age, they can transfer some of their money to an IRA
- Most people spend their whole life saving for retirement; stock market may be ok to grow your wealth, but very bad at creating an income stream
- Invest in things that can get you paid:
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- Certificate of Deposit (CD) makes less than 1%, yet lots of retired people have their money in them
- Bonds: You can have municipal or corporate bonds; bonds pay between 4% to 5%
- Blue-Chip Stocks: Every retired person has a fear of running out of money; you save money, but it's not earning enough income
- Every quarter, monthly profit from rent checks is distributed to our capital; investors get 6% annually, which is $1,500 a quarter
- As rents raise, the property becomes more profitable and affects the value; maximize operations, so when you sell, you create additional money for investors
Links and Resources Mentioned:
- Why the Rich Get Richer book
- Raising Private Money Course
- Kahuna Wealth Builders Boardroom
- Collective Genius Mastermind
Quotes:
“The truth is it's just a choice. Being successful is a choice.” Corey Peterson
“I enjoy the sport of real estate, the sport of it. I want to get you there because it's a great, great lifestyle.” Corey Peterson
“I think what I offer investors is sexy as hell. The reason I know this is because I'm consistent as hell.” Corey Peterson
“When I compete against the stock market, which the majority of people that are investing are in the stock market, I can crush it. I really can.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
I’ve got some golden nuggets of information for you when it comes to operations - how to do things, what to expect, and how to make money. I became a multimillionaire by doing multifamily homes. I have lots of cash flow that shows up every month because of multifamily investments.
The multifamily gain has been a blessing. I get to live a lifestyle that most will never experience. Do you want to get out of the rat race? I've made a good living flipping, selling, and wholesaling single-family homes, but I created a lifestyle by doing multifamily apartments.
Topics on Today’s Episode:
- When you buy a multifamily property, open 5 bank accounts: 1) Operating, 2) Capital improvement, 3) Security deposits, 4) Escrow, and 5) Owner distribution
- Believe in budgeting for profit; overdo or outperform your budget to have more money and profitability
- Move operating money or capex to the side, and let your management company know how much money you're setting aside for other projects
- Dictate what's going on and hold your management company accountable; know what's going on and what’s important - information and knowledge is power
- Nugget 2: For student housing, get pre-leases early; overbook leases, just like the airlines, to make up for those tenants who leave
- Believe that 100% capacity is achievable and sustainable; start a waiting list and get potential tenants to put a deposit down
- Recognize and pay staff to develop a positive and motivational culture
- Sometimes people don’t believe you or you may make mistakes; don't sweat it, always stay positive, and learn from others
Links and Resources Mentioned:
- Raising Private Money Course
- Multifamily Legacy Podcast Facebook page
- Dave Ramsey
Quotes:
“Everybody, write this down or ingrain it in your mind that you want to budge for your profitability.” Corey Peterson
“We believe in budgeting for profit.” Corey Peterson
“Just always remember that you dictate what's going to go on, and if a management company or someone else doesn't get that, then maybe they're not the right one.” Corey Peterson
“You can easily see what's going on, and that's important. Information and knowledge is power.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Do you store your wealth in IRAs? Did you know that you can use that money to invest in real estate? Want to learn all about private money in the self-directed space? If you need cash, you need to go where the money is available to create long-term wealth.
Today, my guest is Edwin Kelly, founder and CEO of Specialized IRA Services and Specialized Trust Company, which provide self-directed retirement accounts. Edwin describes how to create a fortune and build a real estate empire using your or someone else’s IRA.
Topics on Today’s Episode:
- In 2017, $24.7 trillion was inside retirement accounts, and in 2018, it was $25.3 trillion; number increases because of new flow of funds into retirement plans
- Self-Directed: You have a retirement account that allows you to invest in anything that the government allows you to invest in
- $500 billion in retirement accounts is self-directed; small amount because most people are not aware of what they can do with their money - options are available
- 172 million Americans have retirement accounts, but only 1% has money set aside that they can actually invest; self-directing changes it from 1% to 70%
- $1 trillion is expected to come into self-directed accounts in the next decade; people will be looking for investment opportunities that appeal to them
- Stock market does not generate predictable and consistent income, but real estate is an alternative and the Holy Grail to make such income
- People look for alternatives; view stock market as not viable standalone option
- 5 in 100 Americans were financially secure by age 65; 95% failed to create financial wealth or security
- Investment uncertainty, fees, volatility, and taxes affect wealth creation
- Record lows follow record highs in the stock market; people become emotional and don’t understand the market or make rational decisions - buy high, sell low
- Create Wealth: Eliminate taxes, fees, commissions, and uncertainty
- Is using IRA funds for real estate investments illegal or not? IRS sets restrictions
- Incorporate private money as part of investment portfolio and capital structure
- 3 Steps to Success: Open an account, deposit money in the account, and direct money into an investment
Links and Resources Mentioned:
- Specialized IRA Services
- A Foolish Take: What goes down must come up for the market
- IRS IRA FAQs
- Merrill Lynch
- Edward Jones
- Chase
Quotes:
“If you’re looking to raise money, you’ve got to go where the money is.” Edwin Kelly
“Self-directed is where you have a retirement account (that) allows you to invest in anything that the government allows you to invest in.” Edwin Kelly
“Most Americans don’t have a lot of discretionary income or money sitting around.” Edwin Kelly
“People just don’t trust the stock market because they don’t understand it.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Let’s talk about rehabbing because most people get it wrong. How does it work and relate to work processes for your properties? What does it look like? What should you do? You don’t want your property to look like a construction zone. Some believe the correct way is to do all improvements and repairs at the same time.
The right way is to make the rehab process gradual to show that you care and manage tenants’ expectations. Tenants expect rent to go up every year, and we never disappoint them by doing clean, nice, consistent A-class management. You have to earn the right to charge more.
Topics on Today’s Episode:
- First thing done at properties is to change the lighting; take out ugly ones and replace with bright lights for people to notice before and after difference
- Important for managers and maintenance to know people in the “community” and how they perceive where they live
- Be methodical when transitioning a property; constantly improve assets
- Raising rents can just mean having a good, trained salesperson
- If renting apartments, aim for a 65% renewal rate; renewals make you money
- Spend time and money cleaning up or putting away cables and wires
- Do as many improvements and repairs in-house to be efficient and save money
- Best form of flattery is when tenants find your next tenants through referrals
- Manage properties up; up rents, credit scores, standards, and improvements
- Keep tenants’ home life happy, and they will pay you a lot of money
Links and Resources Mentioned:
Multifamily Legacy Podcast on Facebook
Quotes:
“You should never want your property to look like a construction zone.” - Corey Peterson
“You have to earn the right to charge more.” - Corey Peterson
“We’re in the people business where people live...their home” - Corey Peterson
“You want to be very methodical in how you’re transitioning your property.” - Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Today, my guest is Michael Blank, Apartment Building Investing podcast host and coach. He realized that it doesn’t matter how much money he has in the bank or his salary. It’s all about highly leveraged passive income.
Michael was hook, line, and sinker in the search for financial freedom. He put his nose to the ground, started some single-family and multifamily flips, and learned how to raise money. Now, he shares his knowledge about apartment buildings with others.
Topics on Today’s Episode:
- Michael settled on multifamily because there’s always something to worry about and you can’t control value with single-family properties
- People think they don’t have the experience and cash needed to do multifamily, but all that’s not necessary - can overcome both quickly
- Real estate is the vehicle, but it’s about building cash flow and legacy wealth
- Multifamily is a different language; so there’s no reason to not start now
- Educate yourself and build a team to appear as an experienced investor
- Get started with multifamily through experience, education, and raising money
- Michael has blazed a trail that works and believes in the power of mentorship
- Most people who have become financially free, after a state of confusion, they give back and serve others
- Blueprint for financial freedom is in Financial Freedom with Real Estate Investing; at the heart of it is your first deal
- Believe in yourself and take action; make a decision that enough is enough
- Focus on your first deal - whether it is big or small - to start cash flow
- Education Program: Find and do a deal that is meaningful and achievable; phase 2 is to analyze deals, form a team, and meet potential investors
- Only takes 1-2 years to replace your W-2 job; may mean just 1 deal a year
Links and Resources Mentioned:
- Michael Blank
- Apartment Building Investing Podcast
- Financial Freedom with Real Estate Investing
- Rich Dad Poor Dad
- David Lindahl
- Tony Robbins
Quotes:
“It doesn’t matter how much money I have in the bank, what my salary is. It’s all about passive income.” Michael Blank
“I was hook, line, and sinker in the search for financial freedom.” Michael Blank
“Multifamily - it’s a whole different language.” Corey Peterson
“You’ve blazed a trail that works, and the power of mentorship is important.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Have you ever failed at anything? If you have, that failure may actually point you in the right direction and encourage you to take risks that payoff. After failing at college, Tom Cafarella thought about what he wanted to do - earn enough passive income to not have to work. He has built up a passive income portfolio to where he does not have to work much. However, it turns out that he loves to work and puts in 80-90 hours each week because he enjoys real estate so much.
Tom had strong mentors in his life to show him the way to make his dream of passive income come true. While growing up, the only person he knew who had a decent amount of money was his grandfather, who worked minimum wage jobs his whole life. But the one thing he did do was buy multifamily real estate in and around the Boston area. He was the only person Tom knew that really didn't have to work that hard. Tom decided to follow in his grandfather’s footsteps. He decided to go after it because he always wanted to be a passive income investor and buy multifamily properties.
Topics on Today’s Episode:
- When starting a business, you've got to be prepared to get your teeth kicked in - doesn’t matter who you are, how smart you are, or how hard you work
- Find a mentor because you'll get kicked in the teeth less, if you have somebody who's already been through the fight
- Tom has multiple streams of income, and every single one has been taught to him by somebody
- Right now, there's a ton of money being made on the fix-and-flip side of the real estate business; things change, so even out your cash flow and be nimble
- When most successful entrepreneurs use a system that works, just follow it and model success; don’t try to recreate the wheel
- To survive when things aren’t working, find a new plan and shift gears; what's the fastest way to cash?
- Prime capital to deploy, buy strategically based on cash flow and model, and have infrastructure in place to efficiently make money when change happens
- People who are not seasoned operators overpay, and a tweak in the interest rates changes a whole paradigm for a lot of people
- Everybody was buying with crazy loans, and nobody was renting, so rents decreased; prices are too high, but there's no good alternative, if they start to fall
- Tom is doing development because they're brand new and easier to manage
- Tom’s private money comes from a lot of different sources: Levering out personal assets, owning rental properties, refinancing, and utilizing average individuals
- It’s harder to raise capital in the beginning because people want to see a track record; once you have one, it becomes much easier to point to your successes
Links and Resources Mentioned:
- Tom Cafarella on YouTube
- Tom Cafarella Webinar
- Real Estate Mogul Podcast
- David Lindahl
- Brett Tanner
- Mike Hambright
Quotes:
“I'm a pretty entrepreneurial person, very entrepreneurial. It (college) was kind of just like trying to fit a square peg in a round hole type of thing, and I wanted to get into real estate.” Tom Cafarella
“If you can model what other successful people do, it gets you there so much faster.” Corey Peterson
“I think that anybody who's in real estate is very fortunate because most professions, people get up, they hate what they do, but real estate is truly fun.” Tom Cafarella
“You'll get kicked in the teeth less, if you have somebody who's already been through the fight themselves.” Tom Cafarella
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
How can you take relationships to the next level for them to enhance your money-making capabilities in life and business? Today, my guests are Matt and Greg Sneyd, who I have known for about 10 years. They are big-time investors who taught me about the wholesaling business. Now, I’m teaching them a few things about apartments.
Matt and Greg got into rehabbing, wholesaling, high-end remodeling, and acquiring rental properties. Then, they started to get into new construction. Now, Matt and Greg are phasing out of construction to take on some development and land entitlement. They’re converting all their active money into long-term money and long-term wealth.
Topics on Today’s Episode:
- You meet a lot of people, but you click with very few; you need to have the same mindset and have fun - find good fits to go above and beyond
- Matt and Greg make a successful father-and-son duo, but getting into business with family often turns sour; each has certain strengths
- Turning your wheels and not getting traction? Do things the easy way through life hacking and figuring things out - take what the market’s giving you
- If a business model isn’t working, figure out what else you can do; talk to people in your market to see what’s going on to make shifts at different points
- Add a zero to your profit; most people in the flip business are trying to get $30,000 as their profit - what if you add a zero and make $300,000 on a deal?
- Process of finding a good asset, operating, and making some cash flow; when you incubate it for five years, you keep growing
- Multifamily and Relationships: There’s enough spoils to make you money, to make me money; we all get paid, have a good time, and share the workload
- OPM: Finding private money is the real bread and butter in the real estate/syndication business; also talk to people who believe, like, and trust you
- Have integrity and do what you say you’re going to do; always pay back your private lenders - take care of the money and the money takes care of you
- Communicate with investors and lenders; offer full disclosure and documentation
- People think that you have to buy run-down properties to make money in the multifamily world, that’s really not true; you’re buying a property that’s occupied
- Power of Closing and Transacting: Brokers call you up about another deal from a different seller: “It’s a lot like the deal you just bought. We want you in the deal.”
- Write off over $3 million - accelerated appreciation; when you sell, you pay capital gains tax but end up paying a lot less tax or roll it over and defer that tax
- Make money from the day you buy a property, and it can only go up; tenants expect rents to go up - don’t disappoint them
- It’s just Monopoly; trade out some houses for some commercial, and then trade some commercial for some bigger commercial
Links and Resources Mentioned:
- Greg Sneyd email
- Matt Sneyd email
- The Muve Group
- Businesses Need Financial Guidance Now More than Ever
- Hawkeye Towers
- Collective Genius Mastermind
- Jack Bosch
- Sean Terry
- Cory Boatright
- Than Merrill
- Greg Clement
- Jeff Watson
Quotes:
“You go to a lot of seminars, and you meet a lot of people. But very few of them you actually really click with.” Greg Sneyd
“If you’re not sharing your successes or able to talk to people about it and they have similar successes, it doesn’t jive all the time, it kind of feels lonely.” Matt Sneyd
“Everything has got to be in alignment. Our relationship, it was the right fit. You have to be finding these good fits because the only way that you are going to really go above and beyond is to do it with other people that you fit well with.” Greg Sneyd
“I tagged you guys as farther down the road than I was, so I was like, ‘I’m just going to grab onto their coattails and see what they know’.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Do you know about cost segregation studies and how they apply to new tax laws? There are exciting changes regarding shorter-life assets that will have a big impact for investors. Immediate expensing will be a boon for real estate. It offsets income made and all other income, then it carries forward indefinitely. However, most business owners hate accounting. It gets in the way and is a distraction from what they should be doing. That’s why there is Duckett Ladd.
Today, my guest is Bill Ladd, a CPA and co-owner of the full-service Duckett Ladd firm that specializes in real estate. He spends a lot of time on Section 42 properties, which features a low-income credit that incentivizes developers to build in depressed communities. But a lot of regulations and rules go along with such development. Even so, Duckett Ladd decided to zero in on this market, own that space, and add value for people.
Topics on Today’s Episode:
- Consult a tax advisor about passive income; there’s all kinds of ways the IRS tries to trip you up
- Tax forms now have limited ability to take net operating losses, which impacts offsetting taxes
- For every property I own, a cost segregation study is a standard practice
- Quarterly meetings with your tax advisor should be mandatory; get together and hold each other accountable
- Good and bad aspects of 1031 properties - do the numbers work? Do they lead to abandoned income and limited ability to defer entirety of gain?
- Partnerships: Find the right fit, make sure to communicate, and be on the same page; adjust your business model as necessary
- I made a financial commitment that I would have clean and perfect books on all accounts, and Duckett Ladd has made that possible
- Every company needs a financial component and should make it a priority from the start; accounting is the language of business, yet is underutilized
Links and Resources Mentioned:
- Duckett Ladd
- Duckett Ladd on Facebook
- Duckett Ladd on Instagram
- Contact Duckett Ladd at (417) 883-6590
Quotes:
“I cut my teeth very early on in the multifamily space and really spend a lot of time on Section 42 properties.” Bill Ladd
“As I’ve kind of grown up in my career and watched other people, it’s really fun to watch because you see certain people that just have it figured out.” Bill Ladd
“There’s all kinds of ways the IRS tries to trip you up.” Bill Ladd
“I don’t think we even understand the depth of how much this is going to help when it comes to generating cash flow by saving on taxes.” Bill Ladd
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Today, my guest is RJ Bates of Titanium Investments. RJ started his career at Pizza Hut as a delivery driver. He worked his way up from shift manager to assistant manager, and then got his own restaurant.
RJ didn’t know what he wanted to do in his life and got stuck in a job. He wasn’t happy, and it wasn’t what he was meant to do with his life. He was a slave to the restaurant business. But he learned a lot of business skills and will never regret the time he spent with Pizza Hut. After he quit at Pizza Hut, he took a minimum-wage job at a golf course and cashed in his 401k from Pizza Hut to buy his first rental property that cash flows like no other. Now, RJ lives the life he wants and is in control of his own destiny!
Topics on Today’s Episode:
- Being an entrepreneur and do what you need to do - fake it, till you make it
- Becoming a Wholesaler: Purchased a house, did the work, and flipped it; but learned that being a wholesaler was the way to go and make money
- Going from contracting to real estate investing; conquering the world, one residence at a time
- What it takes to be successful is a sure will of determination; making a commitment to do something
- Work on and research your craft, if you have questions, go look it up; reach out to others for guidance, and make help reciprocal
- Understand your core vision and live your life according to it; follow what you want personally and professionally
- An entrepreneurial environment is exciting and feels like anything is possible; determine what’s important and serves you
- Be authentic and don’t try to be the smartest person in the room; be around like-minded people who are more successful than you
- Titanium: RJ and Cassi’s favorite number are 22, and titanium is the 22nd element on the periodic table; building a brand using “Titanium”
- Failure is not an option, but a way to success; you learn a lot about what you should’ve done for systems and processes when going into a new market
- Focus on creating and diversifying passive income; Titanium does wholesale and rehab to make funds to keep the engine going to buy rentals
- Going through tough times and struggling; change your journey through action, dedication, and tenacity
Links and Resources Mentioned:
- RJ Bates on Facebook
- Titanium Investments
- The Titanium Vault podcast
- A Successful Business is a Marriage with Communication - Cassi DeHaas
- Visual Assets Elevate Your Status - Daniel Woods
- Flipnerd
- BiggerPockets
- Investor Fuel
- Gary Harper
- Tucker Hughes Marino
Quotes:
“I actually cashed in my 401k money from Pizza Hut and bought my first property that I still own today. It’s a rental property and it cash flows like no other.” RJ Bates
“If you have a good deal, it’ll sell itself.” RJ Bates
“We’ve tried to conquer the world, one residence at a time.” RJ Bates
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Today, my guest is Larry Goins, who has always thought about wanting to do business. Even when he was a kid, he used to go down to the sawmill and get stakes. Then, he would resell them at the flea market as tomato stakes. Then, he moved on to painting cars, lawn care, and reading books about real estate.
Larry eventually got real estate and contractor licenses. He did his very first depot in 1986, more than 30 years ago. There’s a lot of people who have not been investing that long. Larry has seen more market cycles than most can ever dream of.
Topics on Today’s Episode:
- Technology is the biggest change Larry has witnessed in real estate
- Fix and flip is a bit of a trap because you get used to the quick profits;what happens is you get lost and let all the wrong things become a priority in your life
- Being a Hustler: Having a good work ethic, mentality of “you cannot outwork me”
- Real estate is hot right now; even though real estate is like this, it will eventually go like this - business is cyclical
- Why am I doing this? I’m supposed to be doing this, to not have to do this
- Larry came to the realization that he has to start taking care of himself, his family; there’s more than just work, but work is his passion
- Larry is a firm believer in education, but one thing nobody ever taught him was you’ve got to have a personal vision; money can’t be a part of it
- Larry has always focused on business and has had a lot of acquaintances, but it’s hard for others to get him; allow yourself to be vulnerable and open up
- People will remember if you’re able to give them a little something that could change their life generationally
- Analogy of Business: When you first start, it’s a lot of work for you; get some staff to delegate some of the work; don’t be a bottleneck in your business
- Larry loves real estate because there’s so many ways to do it; there’s so many different types, models, and sources with real estate
- Take action; success doesn’t happen overnight, there’s short-term pain for long-term gain
- Priorities change and you want to level-up your game; find smart guys with money and find them some deals
- Be straightforward and honest with people; build rapport and get them to like, know, and trust you
Links and Resources Mentioned:
- Larry Goins
- Larry Goins on Facebook (videos)
- Larry Goins’ HUD Homes Half Off book
- Brain Pick a Pro podcast
- Brag Radio
- Robert Allen
- Al Lowry
- Wade Cook
- The One Thing
- Shaun McCloskey
- Ron Phillips
- Corey Peterson on Facebook
- Nido Qubein
- Jay Conner
Quotes:
“The most important piece of real estate you will ever you will ever invest in is the six inches between your ears.” Larry Goins
“(MLS book) That’s just like the dark days of real estate when it was the wild, wild west.” Corey Peterson
“I have always had a really, really good work ethic. I get up early, I stay late, nobody has ever called me lazy. Even having employees at the office, I’ve always had the mentality of ‘you cannot outwork me’, right?” Larry Goins
“Why am I doing this? I’m supposed to be doing this, to not have to do this anymore.” Larry Goins
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Today, my guest is my business partner, Cory Boatright. In 2005-2006, Cory became interested in short sales due to the economic crash. He knew that there was an opportunity because people couldn't afford their house, bought too much house, didn’t have enough money, and were going to lose their house. Cory figured out a way to capitalize on the short sale market and built software that, at the time, specialized in short sales.
Then, thyroid cancer changed his perspective and life. Cory decided that he didn't want to do short sales anymore. He closed his loss mitigation company and sold the remaining portion of his software company. Cory started focusing on bigger things, such as life and what’s most important. He spent time with his mom and other people he cared about. Cory started looking at the low-hanging fruit in real estate - wholesaling.
Topics on Today’s Episode:
- Tax Benefits: Ability to save, different strategies, self-directed IRA
- It's all based on numbers; reposition the property, make a profit
- Raising Other People’s Money (OPM) can be difficult; don’t lose faith
- Not as simple as asking your friends for money; they are in your circle and already doing big things, so they are clobbered with opportunities daily
- Don’t ask somebody for something, bring them something that they wouldn't have otherwise without your involvement; leverage relationships
- Rather than thinking about how to do it faster and better, put on your private money hat and have a conversation about something that helps someone
- People pull out of deals, don't take it personally; feed off energy of your next call
- When meeting someone in person, get centered to create some space between something that happened and whatever's getting ready to happen
- When raising private money, real estate people are the wrong avatar; they always want equity, a piece of the deal
- Best places to find money are with working professionals
- People cannot stomach the ups and downs of the stock market; go for a smoking deal that gives you a solid return
- Wholesaler’s challenge is their whole mentality is hot potato; get rid of the potato, slow down, and change your mindset
- Raising private money is about building a relationship with a solid foundation; the deal will stand on its own
- Newer investors often become your best advocates; no one ever tells you how much they have available and there's more money than you could imagine
- Apply your specialized knowledge; raise private money because people giving private money don't typically have that knowledge and don't want to have it
- Listen and people will tell you what they want
- Tell a story about why you think it's a good deal
- Objections for capital include not offering enough return
- Some things you do naturally, others are psychological things you need to be aware of; what goes on during a conversation is powerful, so protect the capital
- Only question at the forefront of people’s brain is, “Am I going to lose or what am I going to get out of it?"
- Believe in yourself and what you're capable of doing; overcome invisible beliefs to step into the realm of what's possible
- Money is a big reason for stress; if you don’t have to worry about money, then the stress is not there and you get to do what you want
- Multifamily provides freedom of time and freedom to build a life that you always wanted; paradise is possible
- As a wholesale, you are transactional, nut you also need to step out and start building relationships; they could be investors in your deals
- To raise private money, do not assume that you think the person you're talking to is only going to invest X dollars; talk to them as if they have $1 million to invest
Links and Resources Mentioned:
- Coaching from Cory Boatright
- Real Estate Investing Profit Masters
- Corey Peterson on YouTube
- Kahuna Cashflow Calculator
- Kahuna Boardroom
- Collective Genius Mastermind
- How To Win Friends And Influence People
- Covert Persuasion
- Pitch Anything
Quotes:
“Wholesaling is the low hanging fruit in real estate.” Cory Boatright
“I'm excited about this journey on apartments.” Cory Boatright
“The reason that these people are in your circle is because they're already doing big things, they're already being clobbered with the opportunity daily.” Cory Boatright
“It is slowing down, it is building the relationships that are driven around people that are interested in doing deals and private money, and building those relationships.” Cory Boatright
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Most people work their entire lives, except Bruce Wayne. He was in control, had nice cars, and a house on the beach. His phone was not ringing because he had his stuff together.
I'm coming to you from Kauai, which is my favorite island. About 17 years ago, I came to the “Bruce Wayne” house that I’m sitting in right now. He's not Batman, but he was loaded and living what I consider the perfect life because he had time and money. He owned apartments, and that's how my story began. Bruce was not a great mentor, but he gave me the perfect vision - I am going to own this house some day. And I may need to work with a broker to get it!
Topics on Today’s Episode:
- Have a vision, cultivate it, pursue it, and actively start living out the destiny
- Dealing with brokers: Their job is to get the seller a buyer; sometimes they come off as very pushy, aggressive, and intimidating
- Don’t let a broker steer you in their direction; have extreme confidence to start changing the dialogue and challenge the broker’s crazy statements
- Brokers often give you information that means nothing; you should just care about how a property underwrites and its potential
- Create a structured process for fact-finding missions/site visits
- Ask questions and interview those who understand a property - people running it
- Splinters happen; a side conversation that they weren’t telling you gets spilled
- Everybody's watching you and making their own judgments on can you buy or not, you have operational excellence, and do you know what you’re doing
- Don’t do most of the talking, ask the questions and then be quiet
- Unit Refresh Process: Always look at the worst units and floor plans; get a good sense of what the units look and feel like, and how much work is needed
- Know the cost on stuff and have an idea of what the market is already bringing
- Become friends with the brokers to build trust
- Negotiating is rough and feelings can get hurt, unless you are with professionals
- Throw in a low-ball offer; you still have to play the game
- Respect the brokers, but they should also respect you; demonstrate your ability to call things out and know your process
Links and Resources Mentioned:
- Corey Peterson on YouTube
- Kahuna Cashflow Calculator
- Kahuna Boardroom
Quotes:
“They have a job...get the seller a buyer, and sometimes they come off very pushy, sometimes they come off very aggressive, and they can be quite intimidating.” Corey Peterson
“Brokers are really good at giving you a lot of information that means nothing.” Corey Peterson
“The best people that truly understand this property are the ones that are running it.” Corey Peterson
“They weren’t questions that we sit there to demonize anybody or to put in a bad light of anything, but we did need to know the information.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
I’m coming to you from Hawaii, basking in the sun, rocking a Ric Flair style, and surrounded by sunsets and palm trees. This lifestyle is all about becoming a cashflow creator. Your paradise is possible!
Today, we talk about branding when it comes to marketing and creating a branding guide. We’ll also chat about how to become an authority on raising capital. There’s a different call to action when you’re trying to attract money.
Topics on Today’s Episode:
- A logo is not a brand; a branding guide with rules, platforms, colors, and other items identifies your brand
- With a branding guide, you can create award-winning marketing collateral
- Develop a branding guide over time, but don’t wait until it’s too late
- Create assets that attract capital and money
- Elevate your authority/credibility by making your marketing materials look great
- Copy your way to success; copy elements from others for your guide
- Create a bio that states you’re a big deal, no matter your level of experience
- No such thing as bad marketing, but bad publicity; position yourself and brand
- Come up with premeditated words that go with your brand and describe your business
- Create a podcast, YouTube channel, and other methods to step into authority
- Teach what you know and be a student to learn from others
- Be willing to put in the work; focus
- Be the person you want to be; take timeouts and have fun
Links and Resources Mentioned:
- Kahuna Cashflow Calculator
- Kahuna Investments
- Kahuna Boardroom
- Corey Peterson on YouTube
- Visual Assets Elevate Your Status
- David Lindahl
- Les Brown
Quotes:
“People buy based on emotions.” Corey Peterson
“There’s a different call to action when you’re trying to attract money.” Corey Peterson
“They’re not creating the assets that they need to attract capital.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Do you have a girlfriend or wife? Most likely, they are the ones who decide where you are going to live. They run the roost. You’re always going to try to live in the nicest and safest place that you can afford. But what men consider acceptable, women feel otherwise.
Today, I’m joined by my wife, Shelley, to talk about all things necessary when doing improvements on your property that get you paid. Do you do too little or too much? What should they look like? What does a unit refresh standard or upgrade require? Let’s take an imaginary tour to paint a picture of what your units should look like!
Topics on Today’s Episode:
- Replace cheap light fixtures, doorknobs, and other features to make the property appear fresh and nice
- Develop a refresh standard of what a unit should look like (hinges, knobs, etc.)
- Refresh standard does not cost much more money
- Out-of-towners looking for an apartment shop via the Internet, so use marketing on the Internet
- Small changes make renters/buyers feel at home, comfortable, and safe
- Use common sense to solve 99% of your problems
- Unit refresh standard typically only costs an extra $200-250, but the ROI is huge
- Change out toilets, and always have a low-flow toilet available, which conserves water
Quotes:
“When you’re going into a 70s or 80s apartment complex...it does not cost that much more money to do the refresh standard.” Corey Peterson
“Mama wants to walk into her apartment complex and be blown away.” Corey Peterson
“Common sense can solve 99% of your problems.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
If you are an online entrepreneur or the face of your business, you need assets to market yourself for people to know, like, and trust you. Professional images elevate your status.
Today, my guest is Daniel Woods, a photographer who specializes in personal branding. He got his start by taking his love of the ocean and transforming it into an adventure photography business. And then, he met Corey - who discovered the difference between a guy being behind a camera and a true artisan!
Topics on Today’s Episode:
- Photographers need to understand the whole spectrum, including the gear, camera, and lighting
- Photography assets make you money; they drive marketing and messages
- Drowning in work social media post is successful because it’s different
- Post-work on photographs and videos; take now and make magic later
- Daniel loves entrepreneurship, people, and being creative
- As a photographer, Daniel gets to know you well and tells your story
- Vignettes are purposefully created for Facebook and Instagram ads; drives messages, such as about getting out of the hustle and grind
- Most people don’t know what “brand” is; you need a branding guide
- Video and audio assets help make you and your business a leader
- Do everything with a brand in mind and use assets
- Teach what you know, and learn what you don’t
Links and Resources Mentioned:
- Daniel Woods
- Daniel Woods Instagram
- Daniel Woods on Facebook
- Tony Robbins
- Corey Peterson on Facebook
- Corey Peterson’s Hawaii video
- Corey Peterson’s NASDAQ video
- Corey Peterson’s ocean video
Quotes:
“There’s a difference between being a guy behind the camera, just pushing the shutter, to a true artisan.” Corey Peterson
“Those pictures make Corey money!” Daniel Woods
“Everything we do is epic!” Daniel Woods
“I love entrepreneurship. I also love creativity.” Daniel Woods
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Titanium Investments has the typical story of a business starting out. Over time, the company retooled several times to make its dream come true. Complete faith and confidence led it to become successful.
Today, my guest is Cassi DeHaas from Titanium Investments. She is a tenacious general contractor turned real estate investor because the grass is greener on the other side. Don’t fear taking a different path!
Topics on Today’s Episode:
- Cassi and her business partner, RJ Bates, are each other’s ride-or-die
- Titanium’s wholesale business has decreased, but still fixing, flipping, and renting
- When making adjustments to a business, address personal changes, too
- What drives and motivates Cassi is the “life” and making an impact on the world
- Learning and teaching; be a lifelong student and education junkie
- How Titanium started in Hawaii through “best buds” relationship
- Titanium uses hard and private money for real estate investments
- Share information and results for money to come to you; the product sells itself
- Differences between hard and private money; restrictions related to hard money
- Times when you need to focus on your business, and times when you need to unplug from the business
- Attach yourself to someone/mentor with good instincts about their business
- Learn how to tell a world-class story and evoke emotion about your business
Links and Resources Mentioned:
- Cassi DeHaas email
- Titanium Investments
- Titanium Investments on Facebook
- The Titanium Vault podcast
- Les Brown
- Sell With a Story
Quotes:
“I’m a hustler. I make things happen.” Corey Peterson
“I really hope, in the not-too-distant future, we will be buying our first apartment complex. That’s the goal.” Cassi DeHaas
“Look at what we’ve done! Celebrate what you’ve done.” Cassi DeHaas
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Woohoo! I inked a deal and doing the happy dance. I got a $10.65 million property with cash flow along under contract in Waterloo, Iowa. I think we’ll start cash flowing about $100,000-$150,000 net sponsorship money. When we sell it, we’ll easily make another $3–$4 million. But it’s not about the money, but helping others!
It’s cool when you get to a point where you don’t need the money anymore. Your cash flow comes in and exceeds all your bills, and you have lots of money left over. That is the amazing sauce in this business, and I want to help you find it. Think of an orchestra and all the pieces that come together to make amazing music.
Topics on Today’s Episode:
- In the movie, Steve Jobs: “Most people play whatever, play violin or whatever. I play the orchestra. I’m the company leader. I play the orchestra.”
- As syndicators, our job is to play the orchestra, syndicate, and put all the pieces together for a deal
- Find partners and sponsors; hire great people to build a great property management company and make deals
- Avoid doing tasks you are not suited for; causes burn-out
- Establish professional and personal goals; and stick to them
- To get into the multifamily space:
1) Learn how to raise private money
2) Assemble your team and get deal flow from brokers
3) Do the work and underwrite deals
4) Put property under contract and fund it
5) Close the deal
- If something’s broke, you have got to fix it
Links and Resources Mentioned:
- Kahuna CashFlow Calculator
- How to Fund Your Deals with Eric Stewart
- Practicing Safe Syndication with Mauricio Rauld
- Hiring a Real Estate Virtual Assistant with Robert Nickell
- Kahuna Boardroom
Quotes:
“Your cash flow comes in, it exceeds all your bills, and you have lots of money left over.” Corey Peterson
“That is the amazing sauce in this business, and I want to help you find it.” Corey Peterson
“Let’s go play this piece of music. Let’s go play this property and make it work.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Take what’s complicated and make it simple. For example, multifamily investing is easier than you think. You can find deals, and make your money grow. But you need a tool to underwrite those deals.
So, I am officially introducing the Kahuna Cashflow Calculator. It’s simple to use, and it works! I want to share with you how I underwrite because I want to be a roadmap to help you make it to the top, too.
Topics on Today’s Episode:
- I share a story about my dad, who taught me everything about life and who you should be: Help others
- I describe how my cashflow calculator works
- Broker sends you an operating memorandum (OM), which should include a rent roll to get the gross potential rents
- Subtract the physical vacancy at the property
- Determine the utility reimbursement fee (residential utility bill-back system, or RUBS)
- Calculate other income, including vending machines, laundry facilities, and any fees, to receive the affective gross income (AGI)
- Start calculating the expenses, such as insurance, security, and salaries (theirs and ours) on a per unit/door basis
- Net operating income (NOI): You can control or manipulate the value of a property
- Who wants to overpay for things? Wall Street wants a nice, steady, rising income
- The higher the cap rate you buy at, the better; the lower the cap rate you sell at, the better (but when you underwrite, be conservative)
- Make cashflow, a ton of money, and live a sunset and palm trees kind of lifestyle that will set you free
Links and Resources Mentioned:
- Strategies for Building Capital with Dick Naas
- Kahuna Cashflow Calculator
- Kahuna Boardroom
- Tony Robbins
- AppFolio
Quotes:
“The great thing about this calculator, it’s simple to use, and more importantly, it works.” Corey Peterson
“When you have a certain amount of success...it’s what you do to help others that really counts.” Corey Peterson
“The higher the cap rate that you buy at, the better; the lower the cap rate that you sell at, the better.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Multifamily Legacy Episode 029 - It’s the Money or Real estate is the Vehicle, the Money is in the Money
Today, my guest is Jay Conner, a real dude who has raised an unbelievable amount of capital and money. He has no superpowers, but he did learn the power of raising private money.
In this episode, we talk all about money. Years ago, Jay was told nasty smelling stuff is really the smell of money, so he looked for the nastiest, ugliest foreclosure he could find and ended up making $40,000. What could be better than being passionate about what you do and getting paid really well for it?
Topics on Today’s Episode:
- Turning point in Jay’s career was when he went with private money because banks were no longer giving money for real estate investments in 2008-2009
- Jay put getting private money on hyper drive; and didn’t raise, but attracted $2,150,000 in new funding in less than 90 days
- Money comes from people he knows, and people they know
- Once you get private lenders and build relationships, the problem is not having enough money but using the money and finding deals
- Real estate is the vehicle, but the money is in the money
- The Godfather Method: Go get the deal under contract and the money will show up, but Jay wants the money and then get the deal under contract
- Corey’s Kahuna Boardroom is about finding money, deals, and operations
- When talking to a new potential private lender, don’t ask them to make too many decisions initially, just talk about the program at first and discuss the deal later
- Secret: Never ask for money; offer an opportunity for people to join your program
- Let your tools help people get high returns on their investment capital
- Jack Canfield’s Rule of 5: Do five things a day, five days a week to help move your business forward
- Be authentic and be yourself; like attracts like - therefore, since you are not going to attract people who are not like you, then you should be you
- Jay describes the differences between hard money and private money
- Jay’s Offer: 5 easy steps to locating and doing business with existing private lenders
Links and Resources Mentioned:
- Jay Conner
- Stress Free Investing
- Jay’s Free Class
- Kahuna Cash Flow Calculator
- Jack Canfield
- Jason Medley
Quotes:
“When you develop the ability to raise capital, it will unlock so many things.” Corey Peterson
“I had a choice. I could quit, or I could remember, ‘I cannot fail unless I choose to quit.’ And failure was not an option.” Jay Conner
“I backed into this world of private money. I’m not talking about hard money.” Jay Conner
“Like attracts like - therefore, since you are not going to attract people who are not like you, then you should be you.” Jay Conner
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
The power of relationships is truly everything. When I look back on my career, there are certain times where people have touched me, and moved me to do some things differently. Things that I didn’t even know that I could do. I want to do that for you, too.
I’m talking about raising OPM private money. I started this podcast journey almost two years—wanting to teach what I know and to give back. We are just now starting to understand who we are as a company, our message, how we reach our audience, my guests, my cash flow creators. I want you to be a cash flow creator, just like me, through legacy.
Topics on Today’s Episode:
- Corey’s getting ready to launch and deliver what he thinks is going to be a truly amazing product, the Kahuna Boardroom
- Utilize the power of your influence; you have conversations and a database of all your clients - leverage people that you already know
- Quit practicing the fear of not having any more income come into your life: Is the money that I saved enough? How can I retire from my job early without any regrets? Real estate.
- Find a partner to add their influence and credibility to your list of people
- Spend your life learning; always learn about up-and-coming factors in real estate
- Power of partnerships and power of relations: You have relationships with people, that’s why you’re in business
- Connect with others at conferences and mastermind events
- Look for capital for investments; focus more on raising capital and less on finding deals
- Two things that we want in this world: Time and money
- Kahuna Syndicate: Corey could pitch this mastermind and get $100,000 per person to join; but he decided not do it because it didn’t align with his goals
- What relationships are important to you? Set aside things that you can’t do right now; maybe you can do them later, in a few years
- Move forward and start making massive money; change your life, legacy, and wealth by flipping the switch and pivoting to multifamily real estate
- Stability is lacking in the market; actually pay your investors
- Kahuna Cash Flow Calculator offers training on how to underwrite multifamily deals
- When we raise capital, we never ask people for their money; we just ask them who they know
Links and Resources Mentioned:
- Grant Cardone
- Dr. David Phelps
- Sean Terry
- Shaun McCloskey
- Vince Palko
- Strategies for Building Capital with Dick Naas
- Syndication Law in the Multifamily World
- Kahuna Cash Flow Calculator
- Syndication attorney Mauricio Rauld of Premier Law Group
- Brandon Barnes
Quotes:
“We are just now starting to understand who we are as a company, our message, how we reach our audience, my guests, my cash flow creators.” Corey Peterson
“The power of relationships is truly everything.” Corey Peterson
“Life is simple if you want to make it simple. Don’t make it hard. That sometimes is the toughest part of working with these real smart people.” Corey Peterson
“When we look at relationships, relationships are everything. If relationships are everything, it's important in your business, and it's important in your life.” Corey Peterson
Let’s talk about money. How do you build relationships with people and capital? Raising capital is a lot like the game of chess. You want to build a strategic plan of what you want to do.
Today, my guest is Dick Naas, a real estate investor and fabulous singer, storyteller, and joke teller! Corey and Dick share how they met and built a relationship around investing in buying and flipping properties.
Topics on Today’s Episode:
- Corey and Dick are Rotary members, who focus on service above self and can be trusted
- Shifting from buying and flipping to renting
- Reporting that Dick receives from Corey is transparent, informative, and accurate
- Benefits of a consistent paycheck
- B and C properties offer consistency
- Lionsgate deal: Dick goes from being an early investor to seller to a new deal
- Not all deals are successful, but Corey operates by finding out what people expect and then giving them that and that much more
- Managing assets, income, and money as you near retirement
- Retire faster, sooner, and with more money by investing in a long-term relationship with multifamily real estate
Links and Resources Mentioned:
- Dick Naas of Men of Song Barbershop Club
- Rotary International
Quotes:
“Raising capital is a lot like chess. You want to be strategic...but more than that, raising capital is really about relationships.” Corey Peterson
“You don’t join clubs to go fnd money. You join because you really want to serve.” Corey Peterson
“It allows me to plan my finances better. Even if the economy takes a slide, the rent checks keep coming in.” Dick Naas
“In real estate, you don’t make the money on the sale, you make it on the purchase.” Dick Naas
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Legal fees can cost you some money. But it costs even more if you wait to get a lawyer until you are in trouble, maybe because you don’t know about real estate processes and paperwork. Today, my guest is Jillian Sidoti, a syndication lawyer. A syndication is when people are brought together to own an asset, such as a property, that’s brought forth by a sponsor, which provides property disclosures.
Previously, Jillian was in the music industry and barely getting by. She got sick and tired of being poor, so she went back to law school. But even she couldn’t stand lawyers. So, she got into the real estate industry thanks to her finance degree. While trying to find investors, she met her partner to create Crowdfunding Lawyers.
Topics on Today’s Episode:
- What is a syndication and why do you need one?
- Need to disclose everything - all pertinent information to save yourself from heartache and being sued
- When you make money, you will have more than one syndication - and lawyers love to follow the money
- Hire a securities or syndication lawyer to properly prepare documentation
- What happens if you do not close on a property? Will lawyer amend documents?
- 506(b) and 506(c) offerings to raise capital
- Investor qualification form and verification for accreditation
- No one is going to steal your ideas, instead you are building trust; always be a student and a teacher
- Get into the habit of vetting investors as much as they vet you
- Be responsible for your investors and their money, but don’t put them on a pedestal
- Where to raise money and capital - go to galas!
- Be cognisant - don’t talk too much or be creepy; be genuinely interested in people
- Do not pay more money than you need to pay to your investors
Links and Resources Mentioned:
- Gene Trowbridge
- Crowdfunding Lawyers
- Jillian’s email
- Jillian’s phone number is 323-799-1342
Quotes:
“Legal fees can sometimes cost you some money, but it costs you more to call me later when you’re getting into trouble.” - Jillian Sidoti
“A syndication is bringing a group of people together to own an asset that’s brought forth by a sponsor.” - Jillian Sidoti
“Every time I give one of my investors the packet...this is going to be a document. It’s going to be thick. It’s going to scare the living crap out of you.” - Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Many people get into real estate because they need to make money quickly. The power of real estate is that it can make a tremendous difference. It provides an avenue for people to get a return on their investment.
Today, my guest is Randy Lawrence, who drops some truth bombs about multifamily investing. Randy has been in real estate for about 15 years and has structured his business around his belief and faith in God.
Topics on Today’s Episode:
- Money available that becomes a source of capital
- What provides a stream of income
- Multifamily real estate is fixed security of the real asset
- Single-family vs. multifamily opportunities and limitations
- People need help to know where to invest their money
- How to raise capital by presenting an opportunity for someone to get a return
- Friends and Family: It’s about who they know with money
- Establish relationships; focus on multifamily real estate to scale, build, and grow
- Randy’s business recently went through a tenant profile improvement process; develop new procedures, policies, and improvements
- Be strategic and have a plan; learn from someone with experience
- Generate a better quality of life for tenants; investors’ lives are changed because of the return they receive
- Create a culture that sets the tone for your staff
- Engage in the process; focus on helping people rather than making money
- Where to Find Money: Go to a charity you believe in; it happens naturally
- Take on a leadership role to serve and help others
- It’s not about the money; to be in business, you’ve got to make money by delivering value
- Find deals through networking and making connections
- Quality teams and partnerships to be successful; it’s all about relationships
- Randy’s goal is to close three, C-class complexes per year for the next five years
- Randy wants to develop a legacy business and empower investors
- Easy money isn’t the best for the long haul; practice discipline and perseverance
- Focus on what you know and what you gain from; you don’t need to be sexy to be successful
- Learn how multifamily can fit into your strategy; develop the right relationships
Links and Resources Mentioned:
- Randy Lawrence
- The Real Estate Preacher
- Kahuna CashFlow Calculator
- How to Win Friends and Influence People
- The ONE Thing by Gary Keller
Quotes:
“Realistically, looking at the power of what real estate can do...the real estate market, in done properly...really can make a tremendous difference.” Randy Lawrence
“There is so much money out there...and they call it cashflow for a reason. It flows out of the people that can’t handle it...and flows into people that can.” Corey Peterson
“Here’s the opportunity that we have...that’s fishing. You throw out some bait, and the right people are attracted to your bait.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Most people don’t get involved with real estate because they don’t have the resources needed, including time, money, and knowledge. But all you need is to be resourceful. Today, my guest is Tim Bratz, who shares how he started as a realtor and now owns lots of multi-family properties.
As a realtor, Tim realized that’s not where the money is at. Luckily for Tim, the market crashed and he bought his first investment property nine years ago. He didn’t know what he was doing, but quickly made $15,000 when he sold it.
Topics on Today’s Episode:
- Network and build relationships with active investors to build credibility.
- Even though you are doing 100% of the work, be willing to initially give up 50-70% of the deals to build up a resume and get financing from banks.
- Give, give, give...to receive just a little bit.
- People want to pick your brain, so share your knowledge and experience if they are willing to use the information you give them.
- To put money together and get deals, use someone else’s cash.
- When you partner with people, not everyone will be happy all the time. You need to let them go sometimes.
- Become a good steward of capital to show that you know how to manage and operate real estate. People will be knocking down your door to give you money.
- Learn how to manage assets properly to give people a consistent return and easily raise capital.
- Despite being able to get money, remain disciplined and conservative when it comes to deals. Don’t deploy capital just because you have it.
- Set goals and identify what worked and what didn’t.
- ELF Business = Easy, lucrative, and fun.
- Wealth Process: You can make a living flipping and wholesaling homes, but not be wealthy beyond measure. However, cash flow is king thanks to multi-family homes!
- Success does not happen overnight. You won’t get rich quick, but you will get rich. You have to put in a lot of work every day.
- No matter how old you are or where you are in life, the key to success is to not quit. Eventually, you will succeed.
- Once you have a base level of passive income coming in, how can you go to the next level? Invest in different classes of real estate.
- Do you love to travel and have vacation homes all over the world? How do you get other people to pay for your lifestyle? Don’t invest in depreciating assets, grow your assets and net worth via cash flowing options.
- Figure out your long-term goals. Do you want to make a lot of money flipping houses or make a passive-residual income?
- Understand the various aspects of deals - from finances to operations. You don’t have to do everything, but know how to become passive.
- Tim uses a debt position and secures it with the asset.
Links and Resources Mentioned:
- Tim Bratz, Email, Facebook, and CLE Turnkey
- Patrick Riddle
- Mark Evans
Quotes:
“If you want to make money, go into real estate.” Tim Bratz
“What it takes in this business is out-of-the-box thinking.” Corey Peterson
“A lot of people don’t get involved in real estate because they don’t think they have the resources...the only resource that you need is the ultimate resource, which is resourcefulness.” Tim Bratz
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Today, my guests are friends and neighbors. We’re going to talk about one word, “No.” It’s hard to say sometimes, especially in business and if you have a kind, generous heart. But you have to say “no” and master it.
Instead of just saying, “no,” ask the requestor, “What should I do?” By asking them that question, they understand and feel where you are coming from. Sometimes you just have to say “no.” You want to help everybody, but you know that you can’t sometimes.
Topics on Today’s Episode:
- No means no. At work, you feel like you have to do what your boss tells you, but sometimes you probably have the ability to say “no.”
- You are a real estate professional who wants to level up one step at buying bigger deals, or you’re new to the game and wanting to learn. You are working hard for someone else, who is making all the money. You don’t want to “work for the man” anymore.
- Have you given your soul to a company, and they didn’t care? Are you just a number? There’s lots of people who feel like that and want to break free.
- Break free from a job by replacing your income through real estate. Learn how to raise private money. Other people’s money (OPM) can set you free.
- When you raise private money, you can do multiple deals with multiple vendors and people. The power is not real estate, but in the money - the ability to attract capital from other people.
- You’ve worked all your life to have a retirement income. What were you afraid of? Not having enough money to retire or running out of money. Most people get advice from a stockbroker on how to deal with this fear. However, they get paid a commission to take your money, so be wary.
- What are your options? CDs, bonds? What you want is to be able to live off the interest. However, if you don’t have enough money and only get a 0.5% return, you’re going to start eating into that principle. That’s when people get really scared that they are going to outlive their money.
- With your retirement money, you’re not willing to risk anything. Remember 2007-2008? You’ve been saving your whole life, but when the market crashes, it can wipe out your money. Once you take the money and don’t have principle, it snowballs. That’s the real reality for people.
- Apartment investing offers financial solutions. You never sell anything because you don't have to. It is an opportunity for people’s money to grow.
- Usually, with an apartment deal, there’s a 6% preferred return. If an investor gives you $100,000, every year you’re going to be paid $6,000.
- The 6% is far more than anything that a stockbroker or anybody could offer you. That’s a real deal.
- Pay quarterly. People want to schedule their monies, and they like paychecks. If paid quarterly, that means you’ve got an income stream. An income stream is important in return because that’s how you pay your bills. You want to turn on as much income stream as you can, so you never have to touch your principal. The 6% is probably the best money you can get.
- With apartments, 6% is usually based on the cash flow because there are several buildings and tenants pay rent every month. Tenants expect rents to go up, so never disappoint them. By raising rent, that’s how you raise your income.
- Hold onto properties for five years. Year 1, fix everything that is broken. Year 2, fix all the broken tenants. You upgraded and fixed everything, made it nice and shiny, so now you’re going to attract a better tenant profile. Years 3-5, optimize your rent growth potential and keep expenses as tight as possible.
- Guess who pays a lot of money when you sell it? Other investors or family office. A consistent rising income story: You have three years of solid operation, plus two years of fixing things.
- When you sell it, you usually give investors another 6%. That’s a total of 12%. It’s a growth and income story. Everybody loves growing incomes because everything keeps going up, too. If you reinvest in upcoming deals, your income will rise.
- When would you say “no” to an apartment deal? If it’s in the wrong spot. There’s a lot of foot traffic around the apartment complex during the day, which means nobody’s got jobs. You look at and around the property at night because you see a lot of things that no one tells you about. During the night inspection, you see a drug deal. It is time to say “no.”
- Walk through the worst units. Toilets are yanked off and there are misplaced pipes - a handyman hack job.
- If someone wants to work with you on an apartment deal, they may think it is amazing, but you need to educate them and share your honest opinion. They get into it. They see a deal, and all they see is a working deal - no roadblocks or red flags.
- It is hard to say “no” and hurt someone’s feelings. But you are preventing them from making a really bad decision. Champion each other’s dreams and goals. Push each other to be successful.
Quotes:
“No is a hard word sometimes to say, especially in business.” Corey Peterson
“I’ve given my soul to this company, and they don’t care. I’m just a number. I know there’s lots of people that are out there that are like that and you wanna break free.” Corey Peterson
“I learned how to raise private money. OPM, other people’s money, can set you free, and that’s what set me free.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
When you live a magical cash-flow life, where you make money that shows up again and again, it allows you to enjoy the beauty of a place like Breckenridge, a ski resort town in Colorado. Today, my guest is Robert Nickell, who launched Real Estate Investor Virtual Assistants (REIVA).
No matter what business you are in, things need to get done and people need to do them - they are called virtual assistants (VAs). Robert aggregates steps that you didn’t even know could be aggregated when it comes to hiring a VA..
Topics on Today’s Episode:
- What are VAs? They are people who help you and your business in some way. They usually perform day-to-day types of tasks.
- Robert trains his VAs on real estate investing tasks, from marketing to social media and real estate documents.
- REIVA gets to know its clients - who they are, where they are, and where they want to go.
- Once it knows this information, it can create a job description for a VA to meet the needs of the client.
- Robert’s team facilitates the whole process, from technology questions, profiling, hiring, to onboarding.
- The job description should detail what tasks need to be done and the type of person needed. Set a skill set to that job description.
- A task or success map is created to describe a 90-day plan. For success, Robert’s team facilitates a lot of organization up front.
- When most people want a VA, they want them to do everything! There’s too many things to do, so that’s why they need a VA.
- Interviewing Process: When hiring someone to be your VA, you want to make sure it is a good fit. Get to know the applicants. Having options gives you confidence in who you select.
- For example, you may need a VA who can work at the same time you do.
- Growth and productivity is hard. It’s a lot of work, and REIVA is there to help its clients solve problems, get time back, and get more done at the same time.
- There’s so many tasks that a CEO should not be doing, especially when a VA can take care of them.
Links and Resources Mentioned:
- Robert Nickell
Quotes:
“Somebody’s got to do the work.” Robert Nickell
“Their time is your time.” - Robert Nickell
“You’re hiring somebody that’s going to be working for you and your team. We want to make sure that that person’s a good fit.” - Robert Nickell
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Ever thought of going to a training session on how to invest in multi-family real estate? You may not have the money to go, but you can’t afford not to go! Today, my guest is Bob Bowman, a real estate investor. He attended Ball State University to major in education and become a teacher. Eventually, he realized he wanted to be in business. He learned how to sell and talk to people, as well as create business where there was none. He made a lot of money - for the company he was working for at the time. After several years, he got tired of working for a company and making money for other people. He dreamed about working for himself in real estate.
Bob began buying single-family homes. He would buy, renovate, and lease them - and found it to be a great way to make money. Around 2007-2008, the market changed and Bob realized he needed to start selling these homes. He lost his net worth and income. He needed to reinvent himself and started looking into investing in apartments.
Topics on Today’s Episode:
- How Bob learned how to raise money for real estate deals. After all, you need money to buy real estate.
- Create an elevator pitch as a selling technique. This is your moment to shine!
- Educate yourself, as well as generate discussions and relationships to learn about what you want to do. In Bob’s case, it was apartments.
- Bob learned about how to get deals, how to talk to brokers, and underwriting when it comes to apartments. Also, he got a coach to help educate him.
- Corleone Method: When you are good at raising capital, it gives you power when talking to brokers and others. You can act competent.
- When subscribing for a deal and looking to get a commitment, it should be 2.5X the money you need.
- As you build a database of investors, it gets easier to raise money. You need to build relationships where they know and trust you.
- If you can’t raise money, you will never reach your full potential.
- No matter who you are talking to, you need to be a strong underwriter and know your business and market. Take care of your investors through underwriting, and know your numbers!
- Is it a good deal? Or, a great deal? You need to be confident enough to be able to discuss and decide. You can always say, “No.”
- When spreadsheets are spread around, formulas are changes and not calculated correctly. The results aren’t what you are going to get in your investment.
- Bob created a software product, called Commercial Underwriter - Simple Input, Sophisticated Output, for underwriting apartments and commercial real estate. It is a simple, yet comprehensive tool that shows how an investment will perform.
- One of the enhancements for the product will be the ability to create a professional property package for investors, which will save you a lot of time.
- Bob’s Method of Success: Educate yourself, mastermind and surround yourself with like-minded people, teach others, take action, and become a strong underwriter. If you want to get ahead, help others through a hand-up, not a hand-out.
- Money comes first, and protect your capital. Plus, find a partner who complements what you do and shares the risks.
Links and Resources Mentioned:
- Bob (bob_bowman@outlook.com or 321-239-0647); Commercial Underwriter; Diane Bowman
- Carleton Sheets and Russ Whitney
- Dave Lindahl
- Xerox, IBM, Canon, and Linear
- Harvard Club
- Fortune 500
- Shark Tank
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Do you want a cash flowing portfolio that lets you live a life of freedom. But what if you lack capital, time, and no idea where to start? Today, my guest is Mike Zlotnik, who has experience raising private money, raising OPM. He started out in software development. Since 2000, he has been a real estate investor, and since 2009, a full-time fund manager.
Most people don’t even know what the process is to start a fund. It takes a lot of work to get one set up, and Mike is already on his fourth! In this episode, we discuss how to set up and get capital into a fund.
Topics on Today’s Episode:
- Set up a financial vehicle, and develop an offering memorandum, term sheet, and summary sheet of marketing materials - with these, you can start raising capital.
- How do you raise capital? Start with friends and family. That’s the #1 step. They will put in whatever they can.
- Ask them to refer you to others who may have capital to invest. Establish a network and build relationships.
- If they invest in your project, they can get a better return than in the stock market with higher predictability and lower volatility.
- Masterminds are a great place to meet people, especially investors.
- You’re never raising money for the sake of money. You are trying to have people know, like, and trust you.
- Another option for raising capital is to have a partner. Also, you can borrow your partner’s credibility.
- If you and your partner are complementary, you can move mountains and the fund process is much easier.
- The multi-family space is suited for syndication. Mike’s job is to find high-quality syndication projects with the right sponsors and invest in them.
- Mike does a “Blind Pool,” which is not a specific property or deal, but invests in “X,Y,Z.” He vets what he is going to invest in and can find deals that others can’t.
- Don’t forget to communicate and let others know about what you do and your unique opportunity. You need to share your story.
- Mike is good at math and chess (he played competitively), but not so much at sales. So, he is happy to share his wisdom...about chess.
- Having a good, strong track record definitely helps to raise capital.
- Ask questions about funds, cash flow, rate of return, etc. Mike has a book that helps people learn how to invest in funds and syndications. It is titled, How to Choose a Smart Real Estate Investment Fund.
- When you first start out and have a deal, most cannot bring that deal home. They are unwilling to give up a piece to someone else, such as a partner. Share the wealth until you gain enough experience to be on your own.
- You need bank financing and a co-sponsor. If you’re raising equity, you need to be able to go to the bank for loan approval.
- Elements of a Deal: the market, bank financing, and operations.
- There are two elements to financing a deal: 1) bank loan and 2) equity rates.
- If you are trying to put a deal together, but don’t have all the pieces, that’s ok. Realize that you need to be strategic on how and who you bring into your deal.
- Mike’s crystal ball broke a while ago, so he does not know the future. But you can prepare for it. Interest rates are expected to rise. There might be a correction coming. That doesn’t mean the market is going to crash.
- In the multi-family space, as interest rates rise, that creates some buying opportunities and deals.
- If you buy affordable real estate, instead of the Taj Mahal, when there is a downturn, people go for affordable. You don’t necessarily buy for value, but for cash flow.
- If you want to write a book, don’t write it word for word. Outline your chapters, and record your thoughts. Have them transcribed, and you’ll have the words for your book!
Links and Resources Mentioned:
- Mike Zlotnik; BigMikeFund.com; Email
- U.S. Securities and Exchange Commission
- Cory Boatright
Quotes:
“That ability to aggregate capital is what makes things good for us.” Corey Peterson
“You have many investors who put their money into the fund, and the fund makes investments and pulls their money to various investments.” Mike Zlotnik
“If you have a good structure, if you have a good marketing business, you know how to find quality deals, then you can partner with people who can raise capital.” Mike Zlotnik
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
When creating the cash flow lifestyle, you are going to want to know how to structure deals. Today, I go through the nuts and bolts of how to put deals together and the financing component. Plus, the all important people component. I also have a Free Live Webinar coming up February 20th. Please go to the link and register to everything I’m doing in the multifamily space.
The Boardroom is also coming up. I’m going to put on a small event three times a year with 35 participants. This will be a high level group that does a lot of great things and gets a lot of traction. I am doing a six-part webinar series on the six profit pillars and then a 3-day intensive. I’m really going to teach this game, so you can have time and money. Register at Kahuna Wealth Builders.
Topics on Today’s Episode:
- Partner with people who have net worth. This person is a sponsor who puts down the earnest money and provides the net worth and signs for the loan.
- Give up 10% of your deal for a sponsor.
- Finding a deal is worth about 10%. It is a simple math process.
- Make a list of what I have and what I need and put the pieces together.
- Underwriting guidelines protect the capital or money.
- If you have no money or credibility give up more to get the deal and get started.
- Build a track record and build legitimacy. Then you won't have to give up as much.
- The underwriting will tell you how much you can pay for capital and if the deal is a go or not.
- Don’t chase deals, only do fat deals.
- To find sponsors, simply start asking your friends and family and practice asking.
- You will soon develop a way to ask and find the right person.
- Don’t ask people for money, ask them who they know. The right people will always self-select.
- There are people who want to invest who don’t like the ups and downs of the stock market.
- We buy for the cash flow. Our investors crave consistency.
- I pay my investors quarterly paychecks or mailbox money. Plus we sell in five years and they get a big chunk of money.
- Do this over and it creates a rising income story.
- The deals have to be done conservatively to make money.
- The golden rule is to take care of the capital 100% of the time everytime.
- Make a net worth statement on an excel spreadsheet. What you owe minus the properties value is your net worth.
Links and Resources Mentioned:
- Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family
- Free Live Webinar
- The Boardroom Join the Free Webinar
Quotes:
“I really want people to see the authenticity of what I do and the next pieces of the puzzle.” Corey Peterson
“If you want to get into the multifamily space, get good at raising capital.” Corey Peterson
“Having a deal under your built gives you so much more legitimacy.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Nizan Mosery is killing it in the real estate industry. He does multifamily and commercial investing. He is living the cash flow life. Nizan is also really good at raising private money. In this show, we talk about Nizan’s love of traveling, his radio show The Traveling Investor, giving back, and how he cut his hair for the Wounded Warrior Project. Nizan shares his story and emphasizes finding yourself, being still, real estate investing and more in this episode.
Topics on Today’s Episode:
- The concept of being a traveler. Nizan was out of the country for about 15 years. He was on the beach in Israel and a friend asked him to to go India and he said yes, and continued traveling for about six years.
- Nizan met his wife in Portugal. They had two daughters and came back to the states in 2009.
- He loves traveling and meeting amazing people.
- The mission of giving back to investors to make their lives better.
- How Nizan had to cut his hair through raising money for the Wounded Warrior Project.
- Nizan is from Brooklyn, New York. His mother was a holocaust survivor. His parents didn’t have a formal education, but they understood building something for yourself.
- There are those that pay rent and those that collect rent. You always want to collect.
- They bought commercial real estate in New York and Nizan worked in all aspects from the ground up.
- He went to Israel when he was 25 after his father died.
- Finding yourself and taking moments to be really still.
- Planting strong roots and still being able to travel and fly. The deeper the roots the higher we fly.
- Nizan opened a raw vegan restaurant in Israel. When he moved back to the states he got his broker license.
- He also founder Cornerstone Investment Partners.
- The importance of educating yourself about all of the different types of real estate that exist. Pinpoint the one shiny penny you are going to run at.
- Don’t go too thin. Educate yourself on everything. Then pick one and become the expert.
- Be a marketing machine and your product is real estate.
- Make an inventory list of what you bring time, money, network of people, inventory.
- What do you need? A sponsor, earnest money, loan application money, money for the equity portion.
- This is putting the puzzle together.
- The importance of having a great team. As well as networking and talking to everybody and being sincere and building relationships.
- Putting out LOIs to show the broker that you want to buy.
- Look at passive residual income as a goal and never quit.
Links and Resources Mentioned:
- Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family
- The Traveling Investor Show
- Bigger Pockets
- Wounded Warrior Project
- Cornerstone Investment Partners
- Nizan@InvestWithCIP.com
- The Traveling Investor Show on Facebook
- The Traveling Investor on iHeartRadio
Quotes:
“One thing I like is seeing my friends and colleagues create a business and a lifestyle that they can pass on to their children.” Nizan Mosery
“The experiences I had while traveling really made me open my eyes and see what life is all about.” Nizan Mosery
“We are here to make our environment, universe and world better than it was when we came into it.” Nizan Mosery
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
It’s a brand new year. 2018 is an exciting time to rock. You should be curious not only in your business life but your personal life too. In today’s podcast I share a Kahuna Concept. These Kahuna Concepts are also posted on my YouTube channel.
I wasn’t always great at school or studying, but I was always curious. It is important to be curious because it leads to certain things. There was an article in the Harvard Business Review that talks about curiosity being as important as intelligence. Today, I break down how curiosity has helped me in my life.
Topics on Today’s Episode:
- IQ is the intellectual quotient or the amount of god given brain power that you have.
- Having a high IQ is like having a lot of RAM.
- EQ is the emotional quotient or how you deal with complexity. Does it stress you out or overwhelm you.
- A higher EQ helps deal with emotional stress of complexity.
- CQ is your curiosity quotient. This is learning by being curious. You can increase your internal learning and recall by being curious about things.
- Being curious and figuring things out has come very natural to me.
- In the apartment business, you have to be curious and learn how to solve problems.
- You have to figure out how things work from loans to insurance to operations.
- When I meet people who are good at what they do, I want to understand the process and ask them questions.
- I also recall their phrases and terminology and adapt it as my own.
- I have been working the CQ my entire life.
- I was a cabana boy at the Stardust Hotel and Casino. We set up chairs and towels for guests.
- There was a club at my hotel that I was curious about. I asked the bouncers questions about if they let underage people in.
- Later in my life, my wife and I wanted to go to a new club. The line was around the block, but I was confident that we weren’t waiting in line.
- I was curious enough in my adolescence to learn how the doorguy bouncer job worked. I was able to use this knowledge to show off to my future wife.
- Don't stop being curious.
Links and Resources Mentioned:
- Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family
- Curiosity Is as Important as Intelligence
- Kahuna Concept 001
Quotes:
“By being curious and having to figure thing out. I actually learned the process. I found that this is a very powerful gift.” Corey Peterson
“You can’t change your IQ, but you can increase your EQ and your CQ. You need to be curious about solving problems.” Corey Peterson
“When I come into contact with people who are really good at what they do, I want to know how they do what they do.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Brayand Ponciano is here today to share his amazing story. He is a guy who started at the bottom, but had a huge drive that pushed him to the top of his game. Like all of us, he had his self-doubts, but that didn’t stop him from becoming a successful entrepreneur and real estate investor. I’ve known Brayand for a long time. He actually started out with bandit signs, and now he is closing on his first apartment complex. He shares his story and more in this lively episode.
Topics on Today’s Episode:
- Brayand shares how he grew up in South Gate in the Los Angeles area.
- His parents were immigrants, and growing up poor a lot of these dreams of money and real estate didn’t seem very doable.
- Brayand shares how his mom wanted her kids to understand what it was like to be poor, so they would appreciate what they have.
- The difference between being confident as opposed to arrogant.
- Brayand saw the Carlton Sheets infomercials and wanted to get involved in real estate and started selling mobile homes.
- He answered an ad which he assumed wasn’t legitimate, but it turned out to be posted by Derek Jarr of GreenStreet Communities.
- Derek hired Brayand and gave him door knocking opportunities. The first guy with whom Brayand went knocking on doors was Brian North in 2007.
- They go through a list of people who are going through foreclosures. They would get a lot of denial and anger, but it was good experience.
- The market crash ruined Brayand’s first foray into real estate, but he didn’t give up.
- Out of desperation Brayand made a list of ways to make money. Through the process of elimination he decided to place bandit signs and was hoping it would get him back into the real estate game.
- How you may have to take a step back and get a full-time job or a side job in order to make it.
- You have to be willing to do whatever it takes that is legal and ethical.
- How not having money actually makes you more discerning when it comes to picking and choosing deals.
- Find out who you are because it is a big part of success. Be true to yourself and be who you are.
- The importance of breaking belief patterns and assumptions that can hold you back.
- Corey introduced the concept of other people’s money to Brayand. Even though he had some self-doubt, he got his first deal and it shot up his confidence level.
- How we can be our own worst critic in our minds.
- Going from fixing and flipping and transitioning into multifamily. You need a credibility kit to show that you have done deals and bought and sold properties.
- Perception is reality and Brayand is trying to transition to someone with more of a public persona.
- Line up money and line up a deal, but get away from the house. You aren’t a contractor or an errand runner. With this method you can do multiple flips at once.
- Learning how to leverage and use other people’s money and finding private investors.
- WIIFM or “what’s in it for me” is what your investors care about.
- Brayand likes giving back, giving his investor’s a better return, and automation.
- He used this strategy to move into multifamily properties after he used a lease option sandwich for some homes.
- He loves the cash flow thing, but not doing one deal at a time.
- As he progressed and let go of control, this led Brayand to where he is now.
- The concept of looking down the line. It’s not about you, it’s about the investors. You want them to want to give their money back to you when you pay them.
- The power of OPM.
- Remember WIIFM. People care about what you can do for them. Then find a way to present that to them.
Links and Resources Mentioned:
- Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family
- Together We Grow
- Brayand Ponciano on Facebook
- The AZ Flip Guys
- @GrowTogetherPHX on Twitter
- Brayand Ponciano on LinkedIn
- Derek Jarr
- Brian North
Quotes:
“I agreed with the message of other people’s money, but growing up poor it didn’t seem possible for me.” Brayand Ponciano
“Getting into real estate was like something out of a dream for me.” Brayand Ponciano
“When I was 19 I got a job at Ross, and my parents and family thought it was a good job. Once you grow up poor, it really programs you to stay poor. ” Brayand Ponciano
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
I’m going to get real with you, invite you into my tribe, and talk about two types of deals that you should be doing. Before I get into the repositioning and momentum plays, I want to remind you to download my Quick Start Workshop and tell you a little bit about my upcoming offerings. Next month, I should be launching my Kahuna Boardroom. This is an exclusive course for those ready to take the next step into multifamily investing. The course will be based on what I call my six pillars. The Kahuna Cash Flow Calculator will also be coming out next month.
Topics on Today’s Episode:
- Repositioning plays are where you buy a property and do a lot of work.
- It may not cash flow well at the beginning.
- Year three is where you hit the payday.
- It takes a full year to fix up a property. You want to get multiple bids and keep occupancy up.
- Once everything is cleaned up it is time to reposition the tenant base.
- Present your model to investors in a conservative manner. Say it takes two years to get things up to speed. It’s ok if it gets done in a year, but don’t create big expectations.
- My Kahuna Cash Flow Calculator will show you what a green light project looks like.
- Momentum plays are buying operationally sound properties at a good price, and you don’t have to do a lot of work on them.
- These cash flow right away. There is not a lot of risk, but there is also not a lot of profit.
- Can I pay my investors and give them their money back? Can I pay my investors profit?
- Model a conservative model on each and every deal.
- Corey shares a story about a repositioning play that almost didn’t work.
- Back funding to pay investors at the beginning of a repositioning play.
- Value adds and taking the current state and making it better or repositioning to make more profit.
- Deferred maintenance and bad management are what makes apartments bad.
- Multifamily has enabled me to live a life beyond my dreams. You can do it too!
Links and Resources Mentioned:
- Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family
- Why the Rich Get Richer
- Russell Brunson
Quotes:
“Be conservative when presenting to investors. It is always best to under promise and over deliver.” Corey Peterson
“When done right, you can make a crap ton of money with a repositioning play.” Corey Peterson
“Momentum properties start to cash flow from day one. You can pay your investors quarterlies from day one.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Whether you are just starting out or are transitioning from fixing and flipping, there is a good chance that you struggle with the idea of raising private money. Today, I hope to move your thinking to get you to a point where you know that you can do this. I started out with nothing and was able to do it, and you can to.
I’m going to show you how I transitioned from single family deals to apartment deals. A lot of it is about education and explaining to people what you are doing and what they are getting. I’ve been doing multifamily for awhile, and I feel it is time to give back and tell my story.
Topics on Today’s Episode:
- The importance of being strategic and saying no to yourself and your wants in the beginning.
- Living the life you have because you lived the life no one else would. We actually moved in with my sister in law when I first started with real estate.
- When raising money, put yourself in leadership positions when you are teaching what you know.
- It helps to be in a place of authority. Raising private money is always done one on one.
- Bring your credibility kit for multifamily and your private money program for single families.
- Ask questions about dreams, goals, etc. Share what you do. Start with the apartment story and how they provide a source of quarterly income.
- People want income, but don’t want to spend down their principle.
- We have learned how to mitigate risk and that is what we do.
- Millenials don’t want to buy houses. They like the flexibility of renting. Baby boomers are downsizing.
- We are good at buying old properties that suffer from deferred maintenance and bad management. We know how to fix fixable problems.
- We specialize in finding old properties fixing these problems and making profit. We buy based on cash flow.
- Most of these investments are five year commitments. Most people are looking for consistency.
- We pay based on cash flow. Every quarter our investors get a preferred rate of return.
- Single family is based on each and every deal. It’s a lot of work. Most people just want to set it and forget or at least not be hassled by it.
- Does that sound like you? This is the buy in.
- But, I don’t know you, and you don’t know me. Do a small fix and flip deal for 90 days. This is the best way to start the relationship and go from there.
- This method can easily unlock current private money.
- The market is super hot, it’s time to transition to cash flow through apartments.
- People will follow you when they know, like, and trust you.
Links and Resources Mentioned:
- Free Workshop Quickstart Video Series
Quotes:
“Anything in life that you are going to be successful with takes work. If you put in the work and do what I ask you to do ultimately you will really start finding success.” Corey Peterson
“The work done once is the beauty of the multifamily business.” Corey Peterson
“Start believing and tell yourself daily that you have what it takes. You have to start programming your mind to believe in yourself.” Corey Peterson
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
On the next episode, I am going to give a quick shout out to some of my reviewers.
My friend B.P. is here today to share how the principles of OPM or using other people’s money has helped him 10X his business. He shares how this business has been life changing and stress relieving. It will benefit his kids and family for years to come. This is a great quick testimonial of how my teachings really can change your lives.
Topics on Today’s Episode:
- I have been in the real estate business for 10 years and Corey has been a guiding light to me.
- Corey has taught me the concept of OPM or using other people’s money.
- I have been able to 10X my business just by following his concepts and moving on to multi family homes.
- I liked the concept of OPM, but I didn’t think it was possible for me.
- How a mindset change helped change B.P.s confidence and he realized that if he could do it for one person, he could do it for many.
- Doing it and seeing it work started the shift in my mind that built self-confidence for me.
- Transitioning from flipping single family homes to multi-family homes it has made me look foreword to the beginning of the month.
- I credit Corey to showing me the long-term benefits of looking into multifamily.
- There has been a bright outlook created in my future. Making six or seven figures passively.
- Don’t sell yourself short and get into multifamily as quick as possible.
- If you follow Corey’s teaching, you can go from something to nothing
- I just want to thank Corey for his time.
Quotes:
“Things completely shifted in my mind. I realized if I could do OPM investments for one person, I could do them for other people.” B.P.
“Doing it and seeing it work started the shift in my mind that built self-confidence for me.” B.P.
“Multi Family has released a lot of stress and anxiety for me. Especially the stress that comes with fixing and flipping many properties at one time.”
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. On the next episode, I am going to give a quick shout out to some of my reviewers.
Mauricio J. Rauld is a PPM Lawyer and the founder and CEO of Premier Law Group. He is a nationally recognized expert in asset protection and private placements. He represents and educates investors from all around the world. He also assists with raising capital and ensures compliance with SEC, State rules, and regulations.
He has been a California licensed attorney for 18 years and specializes in security laws. He helps entrepreneurs like me, raise capital to go on and do bigger and better deals. He has been doing this for 15 years and has helped raise over $150 million dollars. He is just really laser-focused on this particular area of the law which is very specialized.
Topics on Today’s Episode:
- Syndication is the pooling of resources. Usually money to make an investment as a team.
- Providing other resources than money are also valuable to the investing team.
- Taking money from others to manage is a security. The structure doesn't matter if you are selling a security, you have to comply with all of the security laws.
- When it comes to structure we will figure a way to do it.
- You can get creative and make someone part of a deal, but you can’t just give them a side commission.
- Register syndication with the FCC, or find an exemption to registration, or else it is illegal.
- Registering the syndication is a long and expensive option and your last choice.
- You don’t want to accidently do an illegal offering like failing to disclose something.
- The best option is #2 which is finding the right exemption for your deal.
- The Reg D exemption. These allow you to raise an unlimited amount of money.
- An accredited investor has a net worth of over a million dollars. These are private, you can’t advertise.
- The 1933 act prohibition against marketing a non registered security.
- You can only accept accredited investors.
- You must take reasonable steps to verify that they are accredited.
- Safe Harbor Provision of taking reasonable steps to verify.
- There are also third party verification companies.
- Getting an acquisition fee, all of costs, costs of buying, as long as it is disclosed it can be part of the offering.
- If you don’t have the money, but you have the other skills, you find someone and do a partnership and they put up the money, and get paid back at the end. They can also be the lead investor.
- Corey’s 12.7 million dollar deal. Bam!
- Having earnest money sitting around to lock up a deal. Once the due diligence is done.
- Emotional quotient and ability to handle stress. CQ or curiosity quotient helps you learn the process. so you can recall things.
- PPM or private placement memorandum. It tells you every single way that you can lose your money.
- This is protection for the investor and the syndicator. Because the market can turn and sometimes deals don’t go as planned.
- The PPM is mandatory with non accredited investors. Only accredited investors it is not required but they do need a complete disclosure.
- Each deal is different. The same PPM can’t be used on every deal. You need to do underwriting to understand what disclosures need to be made.
- Due Diligence checklist. Lack of PPM. This is a red flag, cutting corners, and possibly illegal.
- Attention needs to be paid to the whole process of syndication, and it should never be done alone.
Links and Resources Mentioned:
- Premier Law Group
- CS@PremierLawGroup.net
- Mauricio J. Rauld on Facebook
- Curiosity Is as Important as Intelligence
- Devil’s Advocate
Quotes:
“It’s not all about money. Time, relationships, and credit are also valuable resources.” Mauricio Rauld
“Anytime you are taking money from another person with an expectation of managing it, that is a security.” Mauricio Rauld
“Most lawyers like to talk. In a business like this, it is better to listen.” Mauricio Rauld
“If you can find other people with money to invest, you can make bigger deals faster, but you have a fiduciary responsibility to those people and that money.” Corey Peterson
“We only do fat deals. If you do fat deals and they get skinny everyone is still happy.” Corey Peterson
“Less equals more. The less I have to work and not do stupid crap like pushing paper the better.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. On the next episode, I am going to give a quick shout out to some of my reviewers.
I have a special podcast for you today, because I am in Kauai, the garden island. The backdrop behind me is just amazing. This is what happens when you get that wealth that I have been talking about. It enables you to go on really cool trips and bring lots of friends and stay in amazing places like I am staying.
Today’s topic is about the secrets of operations. What operational things do you need to do to make a big difference. How can you get the most important things done and free up your time by finding the right person to do those things for you. You want to run your ship by empowering the people you put into the system to do their job which allows you to focus on the money.
Topics on Today’s Episode:
- Find management companies or multifamily operators.
- Pay them between 4% and 6%. You can pay them less because it is a lot of business. That is the power of multifamily.
- Questions you ask your management company are things like:
-
- How they turn a tenant into a client?
- What is their sales process for getting people in the door?
- What are their managers responsibilities?
- Managers should scan the bills to the home office, and the home office pays the bills.
- Keep asking them about all of their systems and processes. Including staff for X amount of doors.
- Best Practices for a Management Company
-
- Make sure you ACH all of your tenants. That means they fill out forms to have their rent ACH drafted each month. Collecting rents wastes an insane amount of time. Lead manager is in charge of the people who come on the property, and the financial status of the property. Accountable to P&L.
- Lead manager has the responsibility of leading people. Hiring the correct managers and maintenance people. Don’t rent to the wrong tenants.
- Replace all of the old light bulbs with LED lights. Replace tenant controlled switches and put lights on a timer. Take one year and cut all of the overgrown stuff down and make it look like a new property.
- Put in USB plugs in kitchen and every bedroom. Point this out when doing the walkthroughs.
- Have the maintenance guys clean the carpet and then have the manager check to make sure that it is done right. This saves time, money, and gets the job done right.
- You can make money by increasing rents or decreasing expenses.
- We are fanatical about P&L and our supply chain. We use buying power collectively to lower operating costs.
Links and Resources Mentioned:
- Free Workshop Quickstart Video Series
Quotes:
“The legacy lifestyle isn’t going to the job each and everyday and managing a bunch of people.” Corey Peterson
“Most newbie operators try to do everything themselves. I think that is a bad idea.” Corey Peterson
“Lighting is the number one biggest bang for your buck that you do at a property level.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. On the next episode, I am going to give a quick shout out to some of my reviewers.
Having love and support makes everything we do easier. The topic for today is what it means to be a supportive spouse, and my lovely wife is here on the show with me. Shelley Peterson is part of Kahuna Investments and helps with all aspects from finding deals to using her amazing communication skills to connect and communicate effectively.
When I lost my job at Edward Jones and was struggling to build up my business, in spite of fear and insecurities, Shelley stood behind me with faith and unwavering commitment. Even though it took time for my efforts to pay off, Shelley never gave up on me. We talk about early struggles, mistakes made, and how hard work and perseverance paid off.
Topics on Today’s Episode:
- Shelley shares how she felt when Corey was fired from Edwards Jones.
- Frustration that spouses feel when their partner works a lot.
- How women want security. When that is ripped away this is where faith and belief come in.
- Shelley’s faith, love, and commitment to Corey outweighed her insecurities when Corey was working constantly to try and build a business after losing his job.
- How Corey was relentless to get his business off the ground and was in the office until the early morning hours.
- Corey does this because he wants to provide and do what is best for the family.
- How couples have to work through doubts and struggles.
- Building the initial inertia is a lot of work.
- When times were rough they moved out of their home and moved in with Shelley’s sister. They had to make sacrifices.
- As a couple you have to make tough decisions to get ahead.
- Corey told Shelley that one of these days he would enable her to retire from her job. It took three years, but they got there.
- Not working an outside job has been an absolute joy for Shelley.
- A supportive spouse gives you a comfort level that is needed.
- Taking a step back, listening to your partner, and finding balance.
- We’ve always been able to communicate well together.
- Entrepreneurship requires a different support staff. Don’t underestimate the power of a supportive spouse.
- Shelley saw Corey as a diamond in the rough, and Corey thinks of her as his polisher.
- The power of having time and money through real estate. Cash flow is when your cup gets filled up regardless of what you do.
- Becoming a true investor with multifamily apartments.
Links and Resources Mentioned:
- Kahuna Investments
- Dave Ramsey
- Rich Dad Poor Dad
Quotes:
“It takes a lot of faith and commitment to be a supportive spouse, but I sure am glad I stuck it out with this guy.” Shelley Peterson
“I knew that if you were that passionate and had that much drive you were going to do well. I had no doubt in my mind that you were going to kill it.” Shelley Peterson
“My faith, love, and commitment in Corey outweighed my insecurities.” Shelley Peterson
“When you start something new it takes an insane amount of time and focus.” Corey Peterson
“We’re doing this and not making any apologies for what we are doing.” Corey Peterson
“Shelley has been my biggest cheerleader. I don’t want to undervalue that because entrepreneurs need a supportive base at home.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. On the next episode, I am going to give a quick shout out to some of my reviewers.
Today’s show is going to be a shorter more introspective episode about how life and people work. I was never good at memorizing information for school or homework, but I have always been really good at solving problems. I was the person in our home who hooked up the VCR and set everything up to record.
I followed the instructions and figured things out. I feel like in life that is the thing that I have been able to do. When my kids come to me for help with things, I know that sometimes I have to step back and let them learn to solve their problems. How will they get good at problem solving without exercising that muscle? Today’s show is about the power of solving problems.
Topics on Today’s Episode:
- How sometimes people stop learning after college. They stop doing things that invigorate their minds like reading books.
- When you come across something that you don’t know how to do. Learn what it will take to learn how to do it.
- You don’t need to be an expert in everything, but you need to know how to do a lot of things.
- The greatest gift I have is always being able to figure things out.
- People over complicate problems.
- Instead of stressing take it step-by-step.
- Don’t get handicapped by thinking you can’t do something. It’s fine to still hire an expert, but you need some general knowledge.
- Use your brain and solve your problems. They don’t need to be solved overnight.
- You can solve problems by just being curious and trying to figure things out.
- LIfe can be the most inspiring and fulfilling experience, but you need to put yourself in a position to rise higher.
- You can proclaim your greatness and have the cashflow life.
- Go out and be the best you that you can be.
Links and Resources Mentioned:
- Free Workshop Quickstart Video Series
Quotes:
“There is something insanely simple and rewarding about solving problems. Solving problems is CEO quality work.” Corey Peterson
“CEOs take problems that seem insanely complicated and solve them by giving people the motivation to solve the puzzle.” Corey Peterson
“When you want to say you can’t do it. I challenge you to say I can do it.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. On the next episode, I am going to give a quick shout out to some of my reviewers.
Today is going to be a fun episode because we talk about how to fund your deals. There are a lot of little pieces to the total funding package. I’m going to give you the juicy details of how it works and how to remember everything. We’ve talked about how to find deals and make offers. Now it is time to talk about how to get funding. We will go over where to get private funding, how much of it to use, the capital stack, and more.
I am so excited about this because I love the cashflow life. When you start from nothing it is really exciting to become successful and have successful real estate deals. I also appreciate all of the new listeners and reviews. I have a fun episode coming up where my wife is going to join me and share a little about me. She has supported me, and this has been a partnership with her. She is my best friend and the upcoming episode will be real and authentic.
Topics on Today’s Episode:
- The capital stack is the total amount of money it takes to fund a deal.
- Example: 2 million dollar deal purchase price. Start underwriting with .75
- That’s a 75% loan-to-value rate. This depends on occupancy.
- The bank finances 1.5 million, so we still need $500,000 of private funding money.
- We borrow all it takes for the down payment, closing costs, inspection costs, legal costs, and capital expenditures or money to fix up the property.
- We borrow more than we are purchasing.
- It’s our job to find all the right problems that are fixable and then fund it with all the money we need.
- Acquisition fee is 3 to 5%. It depends on how good a deal we found. 4% of a 2 million deal is $80,000. That is some fix and flip money.
- Investors want to get their money back with interest. Private money cost more than loans from the bank. Bank money is cheaper, so get as much as you can.
- Don’t get discouraged when raising private money. Ask people about who they know because that takes the pressure away.
- Pencil a higher interest rate. If the deal still works at these numbers, it is still a deal. Don’t fine tune the numbers until the deal is ready to close.
- Under promise and over deliver. This is a hidden art that most people don’t do.
- Showing people better numbers makes them believe and trust in you and become raving fans.
- Always be conservative with your projections.
- I’m also creating software to that will show you how to structure a deal.
- Find a commercial mortgage broker.
- Never undervalue the benefit of asking for help. Get a referral to the right person and ask the hard questions.
- Keep expanding your network and be the conductor of your team.
Links and Resources Mentioned:
- Quick Start Video Series
- Eric Stewart Mortgage Broker
- Steve Jobs
Quotes:
“I run my multi-million dollar business from my home, and I have kept it simple for a reason. I don’t want to have to check in to the office.” Corey Peterson
“I am the conductor. I take all the pieces that I need to assemble my team and then make sure they are playing right.” Corey Peterson
“It’s how you put the jigsaw puzzle together to find the solution.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. On the next episode, I am going to give a quick shout out to some of my reviewers.
Welcome to episode number six of the Multi Family Legacy podcast. Today, I am talking about believing in yourself. So often when we share our dreams with people, and they try to tell us all of the reasons why we can’t achieve them. I want to tell you that you are worth it, and you can do whatever you put your mind to. Just keep in mind that people will let you down, so don’t let them steal your dreams. Once you accept this, people can’t hurt you with their words.
Topics on Today’s Episode:
- The power of being mindful of who you share your dreams and goals with.
- How family can say some of the meanest things, but once you understand why they are saying them those things won’t be hurtful anymore.
- When you share your dreams and goal friends and family think they are supposed to be the voice of reason.
- They say these things to deter you so that you don’t get hurt.
- Many times they are not qualified to give you business advice. They may be coming from a place of not knowing what they don’t know.
- They may try to derail you because they don’t want you to get hurt.
- Sometimes people don’t want to see you get ahead of them and they try to water down your dreams.
- When I got into real estate full-tilt, I was very careful about who I opened up to about my dreams and goals.
- Be careful about sharing what is going on in your life with people. They might ruin you, but they don’t mean to do it on purpose.
- My video Believe and the first time I felt doubt.
- I want you to shine and boldly proclaim what you are going to do to yourself.
- When you truly believe you can, that is when your life starts to change.
Links and Resources Mentioned:
- Quickstart Video Series
Quotes:
“Imagine what life would be like if you didn’t have to worry about money.” Corey Peterson
“When you understand why friends and family may say hurtful things, you can take their power away.” Corey Peterson
“If you want counsel, don’t share your dreams and goals or ask advice from people who aren’t qualified to answer.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. On the next episode, I am going to give a quick shout out to some of my reviewers.
Today, we are talking about offers and how to get your offer accepted by a broker. I would like to think I understand brokers, but I don’t always. I do know what gets them excited, and it is money and commissions. What they are concerned with is if you have the ability to close and how much money they are going to make. If you want to have a deal that the broker will recommend to the seller, give the broker both sides of the commission. That means not using your realtor or your real estate license for half of the commission.
I also talk about finding commonality and making relationships. You want to be friends with your broker by talking about something interesting other than real estate. Once you find that commonality take notes and keep in touch. I also talk about sending an LOI or letter of intent and what is included in it. Along with a sample LOI that I use. You want your LOI to be precise. I also talk about the importance of having a good management team in place with a solid credibility kit. I also talk about having your own credibility kit and having a proof of funds. After this episode, you should have a good understanding of how to get your offer accepted by a broker.
Topics on Today’s Episode:
- Giving a broker “double juice” or all of the commission
- Make friends with your broker by finding a commonality and taking notes
- The importance of building relationships and getting to know people
- You really want your broker to like you and consider you as a friend
- Creating an LOI or letter of intent
- LOI - Three page document that features who is buying, selling, price, inspection period, days to close after inspection, signature, and list of things wanted during due diligence phase.
- Finding a great management company with a credibility kit or bio on their abilities to do the job
- How momentum plays are usually solved by having good management on board
- Having good management in place usually matters to the seller
- Have your own credibility kit or show that you are successful at what you do with a 3 or 4 page document
- Having a proof of funds a screenshot of a bank account or a document with numbers
- Call the broker at 5:00 pm on friday and be the last guy to submit an LOI. “Hey, I’m looking for some pricing guidance.” Play hot and cold to make it to best and final and find the correct range.
- Having friends is the key to the game
- $100,000 earnest money can lock up a 7 million dollar deal
Links and Resources Mentioned:
- Quickstart Workshop
- LOI Document and Credibility Kit
Quotes:
“Give your broker some love. Give him all of the commission and don’t hold it back.” Corey Peterson
“Make friends with your broker by talking about something other than real estate.” Corey Peterson
“Keeping track of all of the wonderful people you meet and how well you know them is one of the most important things in life.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. On the next episode, I am going to give a quick shout out to some of my reviewers.
Welcome to the multifamily apartments investing podcast, I am your host Corey Peterson. Today, we are talking about how to analyze deals. The key to a successful apartment deal is understanding how to make sense of the numbers. This is the third part of the six pillars of success series. You need to know when a deal is a good deal and with multifamily apartment investing it is all about the numbers. Putting the numbers into the right system will tell you when a deal is worthwhile or not.
Having the right software will make the process a whole lot easier. I’m in the process of creating a Kahuna Underwriting Template. As of the time of this recording it is not available, but it will be soon. I’m taking all of the best of the things that I use and throwing out the things I don’t like about the current systems I use. This is going to be a really great product. Today, I’m giving you a 50,000 foot level view of what makes a deal a deal. Starting with two types of deals the momentum play and a repositioning play. Keep in mind the ultimate goal in each one is always cash flow.
Topics on Today’s Episode:
- Momentum play or buying a deal that is already doing well, making it a bit better, and carrying on the momentum
- Micro positioning or improving the apartments a little bit with landscaping or other things
- These properties can cash flow the day you buy them and they provide safety
- Repositioning play or doing a very big rehab this can have lot’s of turnover
- This requires lot’s of cash, but can make a lot of money
- A repositioning play involves more risk
- An example of a momentum play deal with 80% leverage
- 80% leverage means getting a loan at 80% LTV and putting 20% down
- Property packet and the financial numbers
- What their numbers are - compared to what you think they should be
- Gross potential rents - total number of rents that you could collect
- Vacancy - percentage of units not rented - determine in dollar amount
- Total concessions like $100 off first month’s rent
- Total rental income
- Other income - coin operated washers, vending machines, etc
- Residential utility bill backs or RUBs are income
- Total income - all of the income the property generates in a year
- Operating expenses - Salaries, advertising, maintenance, office admin, management fees, utilities, insurance, and taxes.
- Deduct operating expenses from the total income and you get net operating income or NOI
- Deduct your loan or debt service and reserve account from the NOI
- CFBT or Cash Flow Before Taxes - you want the biggest amount you can get going into your account
- Taking the time to vet a great property manager who has great systems in place
- Getting your feet wet with a nice solid momentum play
Links and Resources Mentioned:
- Quickstart Workshop
Quotes:
“Cash flow is really what it is all about and what should drive you in all of your decision making in this process.” Corey Peterson
“The biggest expense you have on any property is the payroll of the people who work for your property.” Corey Peterson
“If utilities such as water are abnormally high, look at things like leaky toilets. They are literally throwing money down the drain.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. On the next episode, I am going to give a quick shout out to some of my reviewers.
Welcome to the multifamily apartments investing podcast, I am your host Corey Peterson. I have a great show lined up for episode 3. It’s my goal for you to get excited about multifamily investing because the right deal can set you up for life. Last episode, I talked about the secret language of apartments. We discussed things like cap rates and buying for cash flow.
In this episode, I’m talking about the secret to finding great apartment deals. This is the second part of my six pillars to apartment investing series. One method for finding properties is sending direct mail to apartment owners. This is effective for smaller units. Larger units of 100 plus units usually only sell through brokers. A plus of buying smaller units is not having a broker involved. There are also more options for creative finance when dealing directly with the owner.
Broker relations are another way to find deals. This means establishing the markets that you like and getting to know the brokers that work in that area. They will send you deals in that market creating a nice pipeline. The best technique is to use both methods and understand how to properly analyze the deals that you find. We will be talking about analyzing deals in the next episode or the third part of the six pillar series. Today, we focus on the process of finding deals and having the right deal flow.
Topics on Today’s Episode: * The direct mail route or sending letters straight to the owners of properties * This route is very efficient for finding motivated sellers * Having established relationships with broker in your market is another way to find deals * Use ListSource to find properties in the MSA or area you are interested in * Look for properties built between the 70s and 90s to find B and C properties * Choose multifamily residential apartments for the type of property * Send something in a colored envelope that looks like a handwritten card * Use strong copy and a phone number for a call to action * Set up a phone number for each market to appear local and track and record * Import the calls to Podio for project management * Getting information from an owner who calls such as a current rent roll * Getting 3 months trailing P&L, but a 12 month is preferred * How 1 person in 25 calls is usually motivated * Determine your market to target brokers in your area * Use LoopNet to find the brokers in my market * Choose at least 50 units for larger units * Call the broker and be confident * You can make practice broker calls in a market that is not your target market * You are a looking for a value add opportunity with a big upside, or a momentum play * Build rapport with the broker. What do you do for fun? Put it in your notes. * Forward thinking upgrades like updated plugins with USB charger ports * To build relationships you need to know about their family and likes
Links and Resources Mentioned: * Quickstart Workshop * ListSource * CallRail * Podio * LoopNet
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. On the next episode, I am going to give a quick shout out to some of my reviewers.
If you are here listening to this podcast, you are probably tired of flipping properties each and every month. I am so excited that you are here, and I am so excited to help you think a little bit bigger and focus on multifamily apartment buildings. For me, the shift came when I asked, “how can I own apartment buildings?” I am here to help you make that mindset shift that will help you to think bigger and to invest bigger. I’m also going to be sharing a lot of secret techniques with you.
In the last episode, I talked about the big picture, I shared my story, and we talked about why you should invest in apartments and the three ways to get paid when investing in apartments. The first episodes of these podcasts are going to be pillar podcasts. There are really six secret pillars for cash flowing apartments. In future episodes, I’ll be talking about the secrets of finding apartment deals, analyzing apartment deals to make money, making offers, funding deals, and how to become a great operator. Today, I am going to talk about discovering the secret language of apartments.
Topics on Today’s Episode:
- The six secret pillars for cash flowing apartments
- ABCs of buildings and grading apartments
- Newer apartments with a lot of amenities are developer and REIT games
- Properties built in the 80s and 90s are B properties
- C properties built in the late 60s and 70s - no washer dryer hookups
- D properties are the war zone, where you don’t want to go at night
- Making money with B and C properties and doing discovery to find them
- Areas are graded A, B, C and D or the war zone areas
- Market cycles and being mindful of current cycles
- Apartments are based on cash - flow not appreciation
- Looking for the best opportunity to make good money and finding emerging markets
- Buying and holding for 3 to 5 years or forever and selling at the peak of the market
- Capitalization rate and buying at a high cap rate
- Managing expenses and having consistent income
- Looking for deals at a good return, making improvements, and making value
Links and Resources Mentioned:
- Free Quickstart Workshop
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. On the next episode, I am going to give a quick shout out to some of my reviewers.
Welcome to the multifamily apartments investing podcast, I am your host Corey Peterson. I am so excited to launch this podcast because it is going to do amazing things for people. I believe that what we do is done for sunsets and palm trees. We want to create the life we dream of, and we do that through apartments and cash flow. This podcast is for anyone who is tired of doing single family flips and doing it each and every year.
The power of cash flow and the vehicle of apartment investing has changed my life radically. Being in the apartment industry has been a great and inspiring journey. I just want you to know that you can buy these amazing assets and create a wealth like you have never known. Before I get into the main episode, go download my free video series that shows you how to get started in apartment investing using other people’s money.
Today, I am going to share who I am and what my story is. First off, I am a country boy at heart who grew up in West Plains, Missouri. I grew up on a farm, and I am quite proud of that upbringing because it made me the man and the investor that I am today. Out of High School I didn’t have any direction. I also didn’t have a degree, so I became a car salesman. I learned a lot about selling, but my future wife didn’t want to marry a car salesman. I called in all of the favors I could and ended up becoming a restaurant manager.
I then dabbled in restaurant sales. Before I got married, my mom invited me and my fiance to Hawaii. The trip was beautiful, amazing, and eye opening. Bruce, my stepdad, had a magical house in Hawaii. His house was on a cove that had a freshwater stream running into the ocean. He had the house, the cars, and the life. When I asked him what he did he said real estate. This was the beginning of my lifelong love of the potential and power of real estate investing.
Topics on Today’s Episode:
- How I grew up in the Ozarks like the ones in Deliverance
- The 5 years that I spent selling cars really taught me how to sell and communicate
- How I went from selling stuff to managing stuff and what I learned in the process
- A trip to Hawaii had a profound effect on my future and opened my eyes to the power of real estate
- Bruce was a real estate investor in multifamily properties with cash flow
- Starting with the dream as my goal and opening Kahuna Investments
- Being a financial advisor for Edward Jones and my commitment story
- How the best time to jump into real estate is at the bottom
- Wrestling with the man in the mirror
- The high stakes for the level of commitment I made
- Searching for a real life mentor and taking massive action
- Meeting Bob Norton by accident and wholesaling
- Finding OPM other people’s money
- Letting investors self select and asking who they know
- How private money opened the opportunity for multiple deals
- Funding my first apartment deal that I still own today
- How there are multiple ways to get paid with apartments
Links and Resources Mentioned:
- Free Workshop Quickstart Video Series
- Rich Dad Poor Dad
- Bob Norton
- The Secret