Living Well with Rentwell: Recent Episodes
Live Well With Rentwell
There is a famous quote that says you make your money when you buy real estate, and that's true, for the most part. But you can't keep that money and grow it, unless you have exceptional property management skills. Living Well with Rentwell is for anybody who owns real estate and wants to learn how to manage their properties or manage their property manager. Each week Rob and TJ share their insight and talk to investors to learn how they vet potential deals, evaluate potential new communities, and put into action the steps necessary to buy these new properties and multi-family communities!
Rob Coldwell and TJ Hock join us once again to have a more intimate chat about our next big project, and more or less show our viewers a peek at what goes on behind the scenes of RentWell and our Businesses. We have an announcement regarding small multi-family properties, as well as a recap of all of the different things we do. This is the podcast for you if you’re interested in learning what all goes on with the Rentwell Team
Rentwell is a professional property management company that cares about what we do and the people we serve. We strive to set the highest standards in our industry. Our mission is to seamlessly manage properties by executing innovative services that provide peace of mind for both owners and residents. Our owners and residents are our top priority! We focus on building success by providing excellent customer service, efficient systems, and responsible growth processes. As a premier professional property management company, everything we do is rooted in innovation. Our highly motivated, energetic team works diligently to improve the systems and tools we utilize every day!
Timestamps: 0:00 - Introduction 3:15 - Our next project 8:34 - About our infrastructure 10:45 - The HUB
Joey Coleman, Author of “Never Lose a Customer Again,” is here to talk with Co-Host TJ Hock about his new book “Never Lose an Employee Again.” Join us for a great chat about how much the employee experience has changed in just the last 4 years, and how employers can use this opportunity to reengage with their employees. Did you know that over 70% of employees, in ALL industries, are disengaged with their job? Part of it was what they experienced during their experience, and another part is the sudden emergence of widespread AI utilization. What can we do to make sure our employees feel important to the team?
Never Lose a Customer Again: With the most recent research showing that 77 percent of employees are "disengaged" at work, it's clear that the current model for workplace experience isn't working. I want to help you fix that. Filled with over fifty case studies from all seven continents (ranging from mainstreet mom-and-pop shops to global juggernauts), I’ll show you specific tools and strategies you can apply to your organization to create remarkable employee experiences that keep your people engaged and retained.
About Joey: For almost twenty years, Joey has helped organizations retain their best customers and employees - turning them into raving fans via his entertaining and actionable keynotes, workshops, and consulting projects. He has a long history of energizing and motivating audiences to enhance their customers’ experiences and employees' experiences. He is an award-winning speaker (yes – they do have speaking contests) at both national and international conferences – competing against New York Times bestselling authors, business leaders, and internet sensations/celebrities. He is the author of the #2 Wall Street Journal bestseller, Never Lose a Customer Again and the recently released Never Lose an Employee Again.
Timestamps: 0:00 - Start 2:30 - The current state of employees 5:18 - What are the 8 phases of the employee journey 10:20 - Where do you start? 11:50 - Elaborate on new employee remorse 14:20 - Disengaged Employees 17:24 - Why are disengagement number so high today? 26:40 - Is AI affecting the modern workplace? 32:14 - About Never Lose an Employee Again
Joining Rob Coldwell today is Sergio Altomare, co-founder and CEO of Hearthfire Holdings. Like most successful investors in real estate, Sergio began his journey with a single purchase. From there, he found the niche of investing in Self-Storage facilities, which ultimately evolved into his current company, Hearthfire Holdings. Today we’ll talk about the journey to where he is today, spirituality, and what we can do as people to be constantly improving.
About Sergio: Sergio is Co-Founder and CEO of Hearthfire Holdings, a Real Estate Private Equity and Development firm with over $50MM in self storage assets under management. His personal and company track record includes 9 successful property exits with an average return of over 25% IRR. His storied career in central banking enables superior financial and investment competency to identify and profitably enter and exit real estate, equity, business positions, and ventures.
Sergio is a highly accomplished Technology Executive, Strategist, and Data Architect with an accredited track record of managing IT projects for the Federal Reserve System. He is an expert in analyzing business needs, performing gap analysis between goals and existing technology, and researching and recommending technological improvements. He has extensive experience in systems architecture, security, mobile computing and service management, and is an expert in security assessment, architecture, design, and compliance.
Through this experience, Sergio has developed strong leadership and interpersonal skills, financial and cash flow analysis, real estate underwriting, and investment crowdfunding. He is highly adept at diplomatically facilitating technical and business problem solving, public speaking, and negotiations with stakeholders. He has recognized project management skills, consistently delivering complex, high-visibility projects on time and within budget.
Sergio received his Bachelor of Science degree in Computing and Security Technology from Drexel University (Summa Cum Laude). He is a Certified Information Systems Security Professional (CISSP) and holds many other IT certifications. Sergio is a licensed realtor in the state of Pennsylvania.
Sergio and Corinn have been married since 2014 and live in Downingtown, PA. In his not-so-free time, Sergio enjoys hiking, skiing, cooking, BBQ, gardening, technology and tinkering, traveling, and self-improvement.
Timestamps:
0:00 - Start
1:25 - What was your first real estate deal like?
11:45 - Managing buildings as a full time job
16:35 - How have you evolved since 2019?
22:25 - What do your deals look like?
27:55 - Not getting attached to properties
32:35 - How do you take care of you?
45:28 - Any book recommendations?
Tim Davis, is a Spiritual Transformational Coach and 30 year resident at the Temple of the Universe, joins Co-Host Rob Coldwell for his second visit to our podcast! Tim is here today to talk about the powerful benefits of visiting the temple as well as joining the online courses. We go in depth talking about the reasons to attend the upcoming course and what exactly the itinerary is. Join us for a powerful talk about working on your spiritual self and why it’s so important.
Listen as Tim shares his journey as a successful professional in media, management and production all while studying and practicing spiritually under Michael A. Singer, Temple of the Universe founder and New York Times best-selling author of “The Untethered Soul”. Tim’s mission is to share everything that he has learned under Michael to help people around the world incorporate spiritual practices into their everyday life.
Tou.org Timodavis.com tim@timodavis.com
Bryan Driscoll of Motivated Leads joins Co-Host Rob Coldwell in the studio today for a chat about real estate investing and his lead capturing platform. Bryan has been in the real estate game his entire adult life and knows his way around the field, and now offers his expertise to other investors looking to grow their portfolio. His platform, Motivated Leads, operates differently from other lead-capture programs where one of the biggest differences is that it’s on a pay-per-lead basis as opposed to a monthly subscription. He’s helping people find their dream and we get to the bottom of how it all works in today’s episode!
motivatedleads.com
In his own words: Bryan Driscoll is the Co-Founder of Motivated Leads, a digital marketing agency that helps real estate investors expand their portfolios quickly by generating quality motivated seller leads. Bryan handles the online marketing so investors can focus on what they know!
Bryan has been a digital marketer for over 15 years and has managed SEO and Facebook campaigns for local businesses, startups, and fortune 500 companies. Digital marketing is his craft, but real estate is his passion. He has been recognized by Forbes and other major publications for his work perfecting it over the past 15+ years.
However, seven years ago, after buying some rental properties from his agency profits, Bryan realized that true wealth comes from real estate investing. That was the start of their real estate investing journey, and Bryan now owns 21 properties. He does joint ventures with other investors for leads that he gets outside of his area.
After being bombarded with leads for years and even having to give away their extra leads to other investors, he realized he had the upper hand in generating leads for motivated sellers. This is what inspired Bryan and his partner Chad to create Motivated-Leads.com to help investors all over the country have the same lead generation success as him.
Timestamps:
0:00 - Start 0:44 - How did you get into Real Estate? 3:51 - What does your portfolio look like 8:07 - What is your strategic plan for the future? 11:14 - How do you help investors buy properties? 17:55 - What does ‘best in class’ look like for capturing leads? 21:50 - Are your campaigns all set up on a county level? 28:00 - How do you stay healthy?
Tim Lyons of Cityside Capital joins Co-Host Rob Coldwell to tell his fascinating story of passive income. Tim is a New York City Firefighter who decided to start investing in property in just 2019. With a duplex bought and sold under his belt Tim went on to start a Private Equity Firm with over 5,000 units called Cityside Capital. His story hits home because it’s further proof that if you put your mind to building something, you can make it happen. Join us for this amazing and inspiring story!
https://citysidecap.com/
More about Tim: Tim Lyons is the co-founder and Managing Partner of Cityside Capital along with his brother Greg. He is a Registered Representative of Phase One Financial Services, LLC, a broker-dealer based in New York City (member FINRA/SIPC). Tim holds the Series 82 and 63 licenses and is focused on raising capital for multifamily, self-storage and industrial assets that provide great risk-adjusted returns, tax advantages, passive income, and equity upside. Tim is also an 18 year veteran of the New York City Fire Department (FDNY) and currently serves as a lieutenant in the borough of Queens. He also worked part-time as an emergency room RN at a level 1 trauma center before starting his real estate investing journey. He brings years of real world management and leadership experience to his real estate investment career. Tim’s initial goal with real estate was to create passive income and in turn, be able to spend more time with his wife and three little girls. After partnering on a multifamily property he saw first-hand the power of real estate investing as an opportunity to create passive income and build wealth for his family. He started Cityside Capital with the goal of not only growing his own portfolio but also to help others realize the power that real estate investing can have on creating passive income and building wealth. Cityside Capital has partnered in over $1.4 billion of commercial real estate assets including more than 6,000 multifamily units. Tim has also invested as a limited partner in several multifamily, self storage, industrial and land opportunities across the United States. Tim attributes his early success in real estate investing to education, investing in coaches and mentors, and surrounding himself with other like minded people. In April 2021, Tim became an Amazon #1 bestselling author in a book he co-authored with other authorities such as The Real Estate Radio Guys’ Robert Helms, Jim Rohn’s 18 year business partner and master marketer, Kyle Wilson and many more, called “Bringing Value, Solving Problems and Leaving a Legacy”. Tim is co-host of The Passive Income Brothers Podcast alongside his brother, and business partner, Greg Lyons. The Passive Income Brothers Podcast highlights the investor journey in creating multiple streams of passive income. Since launching the podcast in December of 2022, The Passive Income Brothers podcast has become a top rated show that has garnered over 130+ 5-star ratings and nearly 40,000 downloads in the first year. Tim lives with his lovely wife, Kristina, and their 3 amazing little girls. When he is not coaching their sports teams, watching dance recitals or horseback riding competitions, Tim and his girls can be found rooting on the Providence College Friars basketball team.
Timestamps: 0:00 - Start 1:00 - Your first real estate deal 6:46 - Going from a triplex to 5,000 units in 3 years 14:45 - How did your reputation as a Fire Captain help you raise capital? 21:03 - What percent of the capital does cityside end up with? 28:30 - Why are you called a Private Equity firm? * 33:22 - Are the companies deals yours or other peoples? 38:52 - What do your capital stacks typically look like? 41:46 - How do you give back to the community?
Today Co-host Rob Coldwell joins returning guest Rich Oneill to announce that they are writing a book about the importance of scope of work services in remodeling and real estate transactions. Having a clear scope of work is necessary for clarity in communication between the person wanting the remodeling done and the person doing the work.
They also discuss their experience in remodeling and real estate transactions and their plan to share their knowledge in the book. Additionally, we discusses the process of renovating properties in the Philadelphia market, including issues with sagging bathrooms caused by the use of cheaper materials and the importance of a thorough approach to renovations.
Rob and Rich conclude the chat with the importance of understanding the cost of a project before starting and the potential pitfalls of not having enough materials or a clear definition of the scope of work. Their software and services for property managers, landlords, and investors will help them manage their properties more efficiently.
Rob Coldwell: rob@rentwell.com www.rentwell.com
Rich Oneill: info@flemingpm.com www.flemingpm.com
Timestamps: 0:00 - Start 2:07 - What is the middle ground? 5:42 - How have you helped solve the middle ground problem? 20:35 - Let’s talk about the book and software 22:53 - What is this service going to do for people? 30:26 - This software isn’t for everybody
Today on Living Well with Rentwell, Co-Host Rob Coldwell talks to Pennsylvania real estate mogul Matt Gorham. Gorham, a natural salesman, was given advice to get into real estate right outside of college and thats what he did. From there he built an empire and now helps others get into homes as well.
As Matt Gorham continues to grow his real estate business, the core of his business model revolves around helping other people. Leaning into faith and the needs of the community, Matt’s team takes pride in helping his community, even taking ‘a few hundred people’ each year to a Phillies game!
Success comes to those who take pride in their work, and Matt is a prime example of that. Although the real estate industry is slow this year, he still managed to have one of his best quarters ever. Matt attributes this success to being a part of the community, and helping build lives through positivity.
www.mattgorhamteam.com
In Matt’s words: Matt Gorham began his real-estate career in 2001 as an investor, and three years later, he became a licensed agent. Since its inception two decades ago, The Matt Gorham Team has grown exponentially and set records in sales with each new year. Matt has grown into a top performing real estate team in our region, has qualified in Gary Keller’s top 500 in KW Mastermind. Part of our teams mission is to give back to the community. Matt believes it is best to serve in the community that you serve. MGT has served at Chester County Food Bank, United Way of Chester County and has run their own fundraisers helping lower income Chester County residents the ability to appeal their taxes. We have also had corporate workdays at Good Works Home Repair Ministry and is on the Advisory Board of the Chester County Housing Partnership where the mission is to create first time homeowners by converting those who believe renting is the only way. On the personal side, Matt and his wife Amanda, love living in Chester County, enjoy golfing, EAGLES! One of the only things he likes to do above attempting to break 80 on the course is time spent with their 4 kids. Matthew(20), Mason (17), Caroline (5) and Charlee (4). Matt and his wife Amanda flip homes, own a Property Management Company, Title Company, Property Services Company amongst other ventures. They want to be a one stop shop for all of their treasured clients.
Timestamps: 0:00 - Introductions 12:52 - A 5 year plan wont work, a 15 year plan WILL 16:07 - How does Faith play into your business? 22:43 - How did you have one of your best quarters in this economy? 25:39 - What does your enterprise look like right now? 28:30 - Have you branched out into joint ventures? 33:40 - What are your next steps?
Adam Larkin of Culture Index joins Co-Host TJ Hock today to talk about the power of analytics in regards to employee engagement. You’ve seen them before, those personality tests for companies, perhaps the Myers & Briggs test. You answer a bunch of questions and get a huge 50 page report about your personality and performance abilities. But what do you do with that information. Culture Index streamlines these processes to help you use this information to build a better team for your company, ultimately affording employees to be in positions they want to be in.
cultureindex.com
alarkin@cultureindex.com
865-360-5769
Timestamps:
3:37 - Why are psychometrics important in business today?
11:22 - Why should people care about how employees think?
14:03 - Do you come across leadership challenges that are overcome by your product?
17:51 - What kind of considerations should a company take with analytics?
Joining Co-Host TJ Hock on today’s podcast is Co-Founder of Obie Insurance, Ryan Letzeiser. Obie Insurance specializes in Landlord Insurance and uses technology to pair landowners and landlords with the exact type of insurance coverage they’re looking for with each specific property. Priding themselves in quick assessments, Obie was named one of the fastest growing private companies in 2022.
About Ryan and Obie:
Obie is the leading insurtech, focused on providing insurance for real estate investors. By focusing on partnerships with proptech and fintech companies, Obie is the first and only company to offer instantly bindable quotes as an embedded insurance experience. Additionally Obie provides insurance via local independent insurance agents or directly to investors through its online portal—changing the shape and feel of insurance for investors by meeting them where ever they may be.
Obie was recently honored as Business Insurance Best Places to Work and one of Inc Magazines Fastest Growing Companies for 2022. Obie is a Y-Combinator and a NAR REACH accelerator alum. To date, Obie has raised $13.7 million from leading proptech investors including Battery Ventures, Thomvest Ventures, MetaProp, Second Century Ventures, and Funders Club.
Ryan is the Co-founder and CEO of Obie. As a seasoned real estate investor and technology executive with years of experience acquiring, developing, managing, real estate, Ryan saw the inefficiencies real estate investors and operators faced with insurance. After much exploration alongside his brother Aaron, he realized the insurance industry was not moving to meet the investor where they were. Obie was created to deliver a greater insurance experience that is more transparent and faster that ever before for the every day real estate investor.
Timestamps:
0:00 - Introductions
3:42 - What is different about Obie?
7:02 - Why should a landowner care about insurance?
14:10 - What should a landowner look for in their coverage?
21:50 - Closing thoughts
23:31 - Contact information
Joining Co-Host Rob Coldwell today is Brent Bowers, coach at TheLandSharks.com. Brent began building his income with a single rental property, and quickly learned that there was a fortune to be made in land acquisitions. With very little competition, there was room for growth buying and selling land. From there, his company grew and he continued to build a coaching and networking program called The Land Sharks, which continues to succeed today. In Brent’s Words: As an Army Officer with over 8 years of service, Brent Bowers was spending a great deal of time away from his family, and he knew he needed to make some changes in order to be more present with his wife and children. His interest in real estate began in 2007 when he purchased his first home, so Brent began exploring real estate investing as a way to support his family while being able to enjoy more time with them as well.In a short amount of time, Brent was able to expand his business, hire a team, and (most importantly) spend quality time with his family while still working hard and helping others. While Brent invests in many different types of real estate, his favorite investment strategy deals with buying and selling vacant land, and he enjoys sharing his expertise in this area with his coaching clients. Brent chooses to live his life based on Bob Burg’s quote, “Your influence is determined by how abundantly you place other people’s interests first.” He is passionate about helping other people find success in real estate investing, particularly in land investments.Brent Bowers is currently the CEO of ZechBuysHouses LLC. Vacant Land of the Free, Discounted Houses Colorado Springs, Rent2Own Colorado and Co-Working & Shared Space are all under the ZechBuysHouses Brand.Timestamps:0:00 - Introductions2:21 - “2008 & 2009 happened for you”5:06 - What type of investments are you pursuing now?17:30 - What does your due-diligence look like?22:38 - How do your operations look?25:02 - What does your revenue stream look like?26:39 - What does your coaching and mastermind look like? 32:35 - Discussion of work in Africa 34:22 - How do you take care of you?
Joining Co-Host Rob Coldwell today on the Living Well With Rentwell Podcast is the Private Money Authority Jay Conner! Today, we will talk about the power of private money in the real estate market. Jay proves that you don’t need to be a real estate powerhouse in a big city to make a living. Focusing his investments in a small town, Jay has proved that property investments can work anywhere, be it a big city or a small town. Check out today’s podcast to learn how property investments can be your path to a great future no matter where you decide to put your money. www.jayconner.comFree Money Guide: www.jayconner.com/moneyguidePodcast: Raising Private Money with Jay ConnerIn Jay’s words: My name is Jay Conner…and let me tell you: I CAN RELATE to all these feelings and frustrations of losing out on so many deals. When I started out investing in Real Estate, I did it ALL THE WRONG WAY! Like so many other Real Estate Investors, I was taken to the slaughter house. I went to my local banker and was able to do a few deals…but you know what happened: I had to come up with Big Down Payments, pay origination fees, and most importantly…play by their rules. (Including signing personal guarantees on everything I owned.) I hated it. I felt owned by the bank, out of control, and stressed out.So, I got some education and learned about buying properties “Subject-To,” Using Options, and buying with “Lease/Options.” These tools opened up my opportunities, but then The Hammer Came Down!!! When the market turned south big-time…my banker CUT ME OFF!!! With No Warning!!! I knew I had to find another way. I searched high and low for another system that would give me the funds I needed. Then I realized I needed to combine the best aspects of all that I researched. And that’s whenI created the basis for this system. I kept refining it until I thought I had the best formula. Then I put it all together and made contact with my first prospect. I trusted my system and the very first person I approached gave me $250,000 in Private Money…and what blew me away was How Easy It Was!!!Within a few, short months…I had $2,150,000 in Private Money!!! And that was just a couple of years ago…and it has ROCKED MY REAL ESTATE INVESTING CAREER! (My banker actually did me a HUGE FAVOR…I just didn’t know it at the time because that set-back forced me to create the system that would bring me lots of money Fast and Easy without relying on bankers or my credit.) The Massive Profits (7 Figures Per Year) I’ve been blessed to enjoy by creating and putting into action my “Where To Get The Money Now” System has without a doubt been my Biggest Quantum Leap since becoming a Real Estate Investor. And I live in a city with only 40,000 people.Time Stamps:0:00 - Start1:19 - Who are you & what do you do?9:21 - Your average deal is $78K. What does that mean?14:19 - What does your business look like today? (Advantage of small market)22:55 - What is your future looking like?28:40 - Where do you get started with private money40:07 - What do you do if the loan is smaller than your typical deal?42:10 - Will your book and coaching help somebody with little experience?47:30 - How do you give back to the community?50:22 - How do you get started?51:33 - How do you take care of you
Inspired by questions asked by the Bigger Pockets community, Co-Hosts Rob Coldwell and TJ Hock interview each other in this unique episode of Living Well with Rentwell. As Property Managers, we often feel like there is some mystery about how Rentwell operates and we'd like to shed some light on our systems. Our hosts discuss the companies they run, how they got where they are, and where the future stands for them. From growing to a multi-state company and consolidating back down to a smaller core market, to the specific clients that they want to serve, this is a great look into the business model. www.rentwell.comwww.rentwell.com/obpTimestamps: 0:00 - Start4:40 - What type of assets do you manage?6:34 - What do you charge?9:55 - Can I do my own maintenance?16:45 - How often do you visit my property?22:45 - What is your method for marketing prospective tenants?27:57 - When I sign up with Rentwell, do I have a main contact?33:10 - If a tenant does not pay rent, do you handle the eviction?35:45 - Can I meet my tenants?38:40 - How long does it take to find a tenant?40:05 - Do you offer any guarantees?44:41 - Does the Owner Benefit Package have a website?Key Takeaways:Property Management fees are based on making sure all parties are ensured a profitWhen it comes to maintenance, it’s best to let your property manager call the shotsWell timed property visits ensure that tenants are following rules and owners are getting the best value for their leasesThe best way to gain new tenants is to provide them with as much high quality information about the property as possibleOne bad tenant placement can cost the homeowner upwards of $15k
www.djetexas.comEvery successful real estate entrepreneur has a story to tell and today’s episode delivers! Join co-host Rob Coldwell and DJE Texas Management Group owner, Devin Elder as they discuss how Devin grew his portfolio from one single family home to currently owning a quarter of a billion dollars in investments. The evolution of Devin’s real estate deals is fascinating and a must listen for new and accomplished investors!Devin Elder is sole owner of DJE Texas Management Group LLC (DJE), which manages all aspects of acquisition, repositioning, and disposition of single family, land, development, and multifamily projects in Central Texas. DJE has successfully completed over 200 Real Estate renovation projects, with renovation budgets ranging from $10k to $3M+. Devin has been a Principal in over 5,000 units of multifamily. No investor capital has ever been lost on any DJE project.The DJE multifamily portfolio is managed by DJE Properties LLC, the company’s in-house property management firm. As of October 2022, DJE Properties manages 2,270 doors in San Antonio.Prior to his Real Estate investing career, Devin earned a Bachelor of Business Administration from the University of Texas at San Antonio and enjoyed a near decade-long successful corporate career in Operations, IT, and Marketing roles at two of San Antonio’s largest employers, Rackspace and 3M.Mr. Elder is the host of The DJE Podcast, a weekly show interviewing the top Commercial Real Estate investment experts in the country, and is himself a regular expert guest on the top multifamily investment podcasts in the world.In 2020, Devin founded The DJE Foundation, a 501(c)(3) foundation, whose mission is to improve the lives of disadvantaged children. The non-profit supports the Heart of Texas orphanage in the Philippines, Aid the Silent, The Alliance for South Texas Orphans, and a growing list of other organizations.Mr. Elder is Co-Founder of ApartmentEducators.com, a consulting firm that teaches successful professionals how to invest in multifamily communities as passive investors and operators. Devin co-founded the Real Estate Brokerage Accelerated Commercial Real Estate in 2020 with his ApartmentEducators.com business partner to assist clients in sourcing and closing multifamily investments.Mr. Elder meets twice monthly with a private CEO advisory board and has a broad network of experienced and trusted advisors, attorneys, brokers, investors, and accountants that facilitate the continued success and growth of DJE.Devin has been married to his wife Amber since 2008. They reside in far North San Antonio with their three children. He enjoys family time, piloting planes & helicopters, playing golf, and spending time with his family at their Texas ranches.Timestamps:0:00 - Introductions and Background8:25 - DJE By The Numbers10:00 - How do you grow from 1 property?19:30 - Dave Ramsay’s influence24:55 - The power of mentors31:04 - What does your vertical integration look like39:42 - Your acquisition story43:11 - How do you take care of yourself48:11 - Charity workKey Takeaways:Real Estate can be a vehicle to financial freedom and personal developmentWhat is the definition of wealth Hearing advice from a mentor is far more powerful than reading itJoining a group of peers can fast-forward your business dreamsHow being vertically integrated can help grow your portfolioThe transition from single family to multi unit properties was the biggest game changerThe people you surround yourself are who you will eventually become
Many property owners take their insurance policies at face value and rarely dig into the finer points of the document leaving most shocked when their claim is either denied or undervalued.It is worth remembering that insurance companies undervalue your claim 8 out of 10 times on average according to today’s guest, Andy Gurczak, founder of AllCity Adjusting. Join our co-host Rob Coldwell as he leans in on Andy’s expertise as a public adjuster whose mission is to make sure your policy is working for YOU and not the insurance company. Listeners will learn what the role of a public adjuster (PA) is, the common scenarios of when to get a PA involved and how to interpret your policy and determine the exclusions. Andy’s company can help you identify mis-categorizations, maximize your claim value, and will quickly and efficiently get you back to normal! Founder of AllCity Adjusting, a licensed public adjusting firm, Andy Gurczak immigrated to America from Poland with his family at the age of nine. After working in the construction industry– more specifically fire restoration, Andy discovered his true calling: public adjusting. This discovery was largely thanks to Herb Johnson, the first African American public adjuster in Illinois, who took Andy under his wing. Andy grew up with the family motto, “if you’re going to do something, do it right, or don’t do it all,” and carries that sentiment into his business. AllCity Adjusting’s unique team structure allows them to maximize their individual expertise and experience. This grants them the ability to move a claim quickly, efficiently, and always with the same outcome: max settlement for the insured. Over the last decade, Andy has not only protected thousands of people from being defrauded, but also helped them receive more money than what their insurance initially offered. In one instance, a client had his business burn to the ground and was originally quoted $3,000 dollars from his insurance company. With Andy’s help, he received over $600,000 and was able to properly rebuild and restart his business. Passionate that no one should be discriminated against because of their gender, race, or any other reason, Andy works hard to make sure his clients get what they truly deserve from their claims.www.allcityadjusting.com/allcityadjusting//in/andy-gurczak-528b9b64/Timestamps:0:00 - Start1:51 - When does a landlord get an adjuster involved with a claim?5:33 - If there is a fire at one of your rental properties, who do you call first?9:57 - What does it take for your company to perform well across different states?15:09 - What is an Umbrella Policy?17:07 - With renovations, is there a general value per square foot? 22:09 - How do you get paid?Key Takeaways: Leveraging Public Adjusters for LandlordsA Public Adjuster protects their clients and assists them through the claims processMany people wait until it’s too late to have a Public Adjuster on their teamA PA could help you prevent needing to file a claim with your insurance providerPA’s get paid on a percentage basis, only after their client gets paidA PA can review your policy for free
One of the key roles in any property management company is without a doubt the Field Manager position. On today’s show, Co-Host TJ Hock talks to Rentwell’s Field Manager, John Velardi to discuss how his role impacts the owner and tenant experience by doing thorough site visits during the term of the lease. John offers his expertise and valuable advice to investors on what to look for when purchasing a property in order to avoid major issues in the future!
John grew up in Collingdale, Pennsylvania and was a 2002 graduate of Neumann University. Prior to joining Rentwell, John was the Director of Operations for Swiss Farms Stores. John has built upon his vast experience in management, maintenance and operations and holds an essential role at Rentwell. Recently married, John lives with his wife, Carrie in Oreland, Pennsylvania.
Timestamps:
0:00 - Introductions
6:19 - What do you do on your site visits?
13:25 - Are there any non-negotiables during site inspections?
15:25 - Advice for first time investors
19:41 - Interesting stories about home inspections
22:38 - Most common occurrences during move-out inspections
Key Takeaways:
The Field Manager is responsible for everything inside and outside of the property
John manages tenants during their move in and move out process
Numerous site visits ensures the owner that their property is well taken care of
Inspect everything when purchasing an income property, including places you wouldn’t normally such as flooring, ceiling and floor joists, mechanicals & water
The tenant application process can be cumbersome and overwhelming for both the tenant, owner and especially the property manager leaving all feeling stressed and overwhelmed! In today’s episode, co-host TJ Hock and Clay Stapleford discuss how Findigs has shifted the leasing experience with their new digital underwriting platform that protects owners and property managers from fraudulent applications. This easy to use mobilized technology is the answer to the many challenges faced when placing a tenant, making the rental experience safer, faster and accurate!
Findigs digital platform is powered by an advanced underwriting engine that didn't exist until they built it. Underwriting unlocks a much better experience verifying income, identity, and available rental units without the need to email over endless documents of personal information. Features such as tenant facial match, rental history and income verification is completed within one system funneling information into the property managers current software. Owners and property managers can now be assured that their tenant can pay the rent and are who they say they are on the application.
Timestamps:
0:00 - Introductions
3:45 - Knowing your renters financial situation instantly
10:42 - What is unique and different about Findigs?
13:11 - Why add landlord verification?
15:16 - The versatility of Findigs, including self-employed renters
18:31 - Native Pet Verification Tool
Key Takeaways:
Findigs provides instant and accurate financial information, replacing the need to wait a week or more for a background check
Mitigating the risk of a fraudulent tenant through underwriting technology
Does your tenant have the ability to pay the rent
Findigs combines the work of what previously took several platforms
AI technology is integrated to protect the owner
Applicants have a 75% NPS score, compared to the average of 25%
Syncing with renters bank accounts and income sources prevents false information
Also adds pet screening to the application process
Book Recommendation: Stillness Is The Key & The Obstacle is the Way (Ryan Holiday)
In today’s market, there are numerous programs to protect the tenants in a rental property but very few options have been available for owners, until now! Today’s episode is a must for all property owners and managers as co-host TJ Hock interviews John Higgins, Co-founder and CEO of Steady Technologies, Inc to review their amazing owner benefit package specifically designed to empower and protect property owners!
Steady Technologies, Inc. is a leading technology platform for property managers and owners of single-family rental units. The Owner Benefit Package™, powered by Steady®, offers property managers a suite of products designed to accelerate rental income, reduce tenant payment risks, eliminate bad debt, and generate ancillary revenue for their business. OBP™, powered by Steady®, provides property managers with solutions that benefit their clients, while also giving them a competitive advantage in their market.
Prior to co-founding Steady Technologies Inc., Mr. Higgins founded Nobadeer Advisors, which provided business development and capital market expertise to technology enabled lending platforms across a variety of consumer and business lending verticals. Previously, Mr. Higgins spent 2.5 years at Prosper Marketplace, Inc., where he helped build the institutional loan program growing it from $0 to over $5bn over his tenure and helped scale monthly origination volumes over 4000% during this time at the firm. Mr. Higgins also previously served as a Director at Topwater Capital (now owned by Leucadia), where he made investments between $5-$100m into hedge fund managers across a variety of strategies via structured managed accounts. Prior to Topwater, Mr. Higgins spent 5 years working for event-driven, distressed, and activist hedge fund managers.
Timestamps:
0:00 - Introduction to Steady Technologies
3:40 - What is the Owner Benefit Package?
9:45 - The rent advance program
14:05 - What is rental protection & the legal defense shield
21:01 - Do you see any changes in property management in the future?
Key Takeaways:
Owner protection is an unmet need within the industry
Property owner survey results list rental and eviction protection as the #1 request
Details of The Owner Benefit Package™
Landlords can insure themselves against tenant non-payment
Rental protection insurance can help landlords have peace of mind
Rental advance program can assist owners with capital improvements and future investments
What the future holds for property managers and real estate investors
In today’s episode, our co-host Rob Coldwell takes a deep dive into the numerous financial, social and economical benefits of the co-Living model with entrepreneur and investor Sam Wegert. From advice on structuring your property as a co-living space to the mental and social benefits to your tenants, Sam covers it all including how co-living will help solve the affordable housing crisis in the United States.
About Sam: Sam Wegert was homeschooled K-12 with his seven siblings. At 15 years old, with a loan of $15,000 from his parents, he purchased his first martial arts school and graduated high school that same year. Over the next 15 years he expanded to 6 brick and mortar locations and through COVID built a successful online program. His company, UpLevel Martial Arts now has over 1,500 students and has trained more than 20,000 students in martial arts in 25 states and 3 provinces in Canada.
Throughout his martial arts career, Sam joined GoBundance as the youngest member at the time in 2014 and began to invest in real estate through short term rentals and co-living properties. He partnered with his wife and now together they own 8 short term rentals, and 115 co-living beds.
Sam is now passive in both his real estate investments and his martial arts business and lives in Charlotte, NC with his wife Rachel who is a huge supporter and his business partner.
Connect with Sam:
https://www.facebook.com/SamWegertUpLevel
https://www.instagram.com/samwegert/?hl=en
www.samwegert.com
Book References:
Living What Is by Byron Katie
Timestamps
0:00 - Introductions
4:01 - Learning about co-living
7:35 - Outdated laws
13:13 - Adding rooms to a home
21:40 - Psychological benefits of a co-living community
24:17 - What transpired since being on Bigger Pockets Podcast?
26:30 - What does personal development look like for you?
Key Takeaways:
How Co-Living can increase your cash flow
What are the legalities of Co-Living
Memberships vs. leases as part of the co-living structure
Co-Living can help solve the affordable housing crisis
Financial Benefits of Co-Living for the Tenant and Landlord
Sam’s goals of educating people to build, teach and manage their own investments
Many first time real estate investors, whether they be accidental landlords or entrepreneurs, find themselves initially in uncharted territory. How to best handle your newly acquired asset including hiring the right property management company, tenant requests, property maintenance, leases, rental permits and accounting are just a few of the responsibilities associated with being an investor.
In today’s episode, our host TJ Hock and guest Kyle Stephenson share their expertise within the real estate and property management industries focusing on first time investors and the importance of a solid relationship between property owners and property managers.
About Kyle Stephenson: In 2007, after his search for a property management company that focused on his specific needs proved fruitless, Kyle decided to fill that void and founded KRS Holdings. KRS Holdings has grown to manage over 1,300 single family homes and 2,500 multi-family units across the commonwealth of Virginia. Kyle works hard to ensure that his team never loses their focus on delivering quality services to residents and landlords alike. Kyle’s expertise in residential property management has been recognized by many within the industry. He was featured in the book “Successful Property Managers, Advice and Winning Strategies from Industry Leaders” by Michael Levy. Besides being a licensed Realtor, he is a member of the National Association of Residential Property Managers as well as the Richmond Apartment Owners Association.
0:00 - Start
5:17 - What advice do you have for first time real estate investors?
9:05 - How do you see the economy affecting the future of property management?
12:40 - The challenges of being a property manager
15:55 - What do you like most about property management?
21:17 - What value can property managers bring to first time investors?
23:44 - Coaching property managers to communicate effectively with clients
25:59 - Do you see opportunities with AI or Virtual Assistants in the industry?
30:47 - Words of wisdom
Key Takeaways:
Real estate allows the average american to compete from an investment standpoint
Start your investment portfolio with a simple single family home
Self-managing your property initially is a great learning tool
Don’t invest in a property that won’t allow you to make mistakes financially
Money is both personal and emotional
Communication between the property owner and property manager is vital
Training your property managers will help build strong client relationships
www.thecultureworks.com
www.adriangostick.com
Books by Adrian Gostick:
The Carrot Principle
All In
Leading With Gratitude
Anxiety At Work
As business owners and leaders, we are faced with many daily challenges when it comes to developing talented employees. One of the most unspoken issues that can compromise a company’s core values and culture is anxiety in the workplace.
There has also been a noticeable shift in the work-place values of Millennials and Generation Z when compared to older generations. In today’s episode, Co-Host TJ Hock and best selling leadership author Adrian Gostick discuss how to recognize and manage this value change while enhancing employee engagement, leading high-performance teams and getting stuff done!
About Adrian Gostick:
Adrian is the author of bestselling books on employee engagement and corporate culture as well as a sought-after keynote speaker and executive coach. "The Carrot Principle" and "All In" have been New York Times and Wall Street Journal bestsellers--called a “must read for modern-day managers” by CNN. "Leading with Gratitude" was released by Harper Business in 2020 and "Anxiety at Work" in May 2021. In 2022, Adrian Gostick was ranked #4 on the list of the Top 30 Global Gurus in Leadership and #4 in Organizational Culture.
Adrian’s books have been translated into more than 30 languages and have sold more than 1.6 million copies around the world. As a leadership expert, he has appeared on NBC's Today Show and CNN. Adrian has also been featured in The Economist, Harvard Business Review, Wall Street Journal and Fortune. He is the founder of The Culture Works, a global training company focused on employee engagement, and an executive coach and member of the Marshall Goldsmith 100 Coaches.
0:00 - Start
1:47 - What is Anxiety?
3:05 - Why is anxiety at work so prevalent?
5:34 - How do you adjust to the work ethic of young people
9:16 - Remaining a manager without being ‘friends’
11:42 - Creating healthy debate with different generations
13:25 - Why did you write ‘Anxiety At Work?’
15:52 - Does remote work increase anxiety? The new ‘hybrid work?’
18:23 - Assumptions are made more when we work remotely
20:42 - Suggestions for leaders
Key Takeaways:
Half of Millennials and 70% of Gen Z have left work for anxiety issues
Anxiety has always existed, the younger generation is more comfortable talking about it
Leaders need to change their thought process when managing a younger generation
Entry level jobs are now referred to as ‘dead end’ jobs
Loyalty is an important factor for younger generations in the workplace
Using ‘I noticed’ while mentoring is a great way to convey that you care
Remote and in-person company meetings should be purposeful and intentional
Impact on mental health due to the pandemic
90% of leaders avoid having tough conversations with their staff
Reducing uncertainty for employees results in longer retention
Co-Host Rob Coldwell interviews Craig Eppler, founder of Eppler Capital Properties LLC about his rapid journey into real estate investment and asset management. Acquiring his first investment property in 2019, Craig has already amassed a very respectable real estate portfolio. Rob explores Craig’s journey from how he financed his first investment property, to his relationship with his investor-focused realtor and the challenges that he faced with his former property management company. Giving the listeners a very transparent look at his investment and financing strategies, Craig also discusses what to look for in a property management company and his current model for managing 48 doors. Whether you are a first-time investor or growing your current portfolio, you won’t want to miss this episode!
epplercraig@gmail.com
IG @epplerc
Craig grew up in Bethlehem, Pennsylvania and was a graduate of York College with an MBA in finance. After graduation, he moved to Philadelphia to work for a large asset management company. Not enjoying the mega company culture, Craig moved to a smaller firm and continues as a Portfolio Manager for a Registered Investment Advisor in the Philadelphia suburbs. His primary focus is on portfolio construction, options strategies and macro research. His personal portfolio is currently up to 48 doors, primarily investing in residential properties in Central to Southeastern Pennsylvania.
To be on the podcast, advertising inquiries, or other information about Living Well With Rent Well, please contact karen@rentwell.com
2:00 - How did you finance your first investment property?
5:36 - What techniques did you use to buy multiple properties?
9:31 - The story behind the 32 unit purchase
13:55 - What was your portfolio growth journey?
22:20 - Lessons in property management
27:56 - What does your property management model look like now?
34:13 - What tips do you have on how to manage your property managers?
42:19 - What does your future look like?
44:45 - What is an exposure line of credit?
45:55 - How do you take care of you?
Key Takeaways:
Strategies to financing your investment properties
Hiring the right property management company will help you focus on growing your portfolio
Expectations between property owners and property managers
What is an exposure line of credit
The power of journaling, running and giving back to the community
Victoria Cowart
www.petscreening.com
Victoria@petscreening.co
With a rise in renters seeking pet friendly properties, it is important for landlords to realize what the risks and benefits are to allowing our furry friends into their rental units. Today Co-Host TJ Hock is covering all you need to know about pet screening with guest Victoria Cowert, Director of Education & Outreach at petscreening.com. Victoria guides us through why it is essential that owners deploy petscreening to mitigate some of the risks as well as the numerous benefits to being a pet-friendly property.
Victoria Cowart, CPM, NAAEI Faculty, is the Director of Education & Outreach for PetScreening. Previously, she was a direct multi-family industry member with extensive experience providing management and oversight for multifamily housing communities (conventional & subsidized), mobile home communities, and HOAs. She is a property management instructor and a proud graduate of both the NAAEI Advance Facilitator Training and the NAA Lyceum Program. Victoria obtained her degree in the Management of human resources and then her industry CPM designation. She was honored to be commissioned a SC “Palmetto Patriot,” to receive the Charleston Regional Business Journal’s Executive “Influential Women In Business,” and the NAA AIMS Grassroots Member Advocate of the year. She has served the industry as President of both the local and state affiliates as well as having served as a Regional VP for Region IV for NAA. Victoria has chaired four Committees for NAA, most recently as the 2021 Legislative Chair. She is passionate about education, simplification and creating ease and understanding for industry members. Victoria is a wife, mother and a proud PetScreening pack member who also leads her own “pride” of three pound-kitties.
Timestamps:
2:55 - What is the importance of allowing pets on properties?
6:21 - Why has there been an increase in support/service animals?
9:25 - If a landlord doesn’t allow pets, how does Pet Screening help?
11:32- Are policies regarding pets changing for rentals?
14:03 - What does Pet Screening do?
18:55 - What changes/benefits would a landlord see when they begin to allow pets?
21:30 - Are tenants more satisfied if they’re allowed to have pets?
24:25 - What are the outcomes of allowing pets in your rental units?
26:55 - The benefits of petscreening.com
28:49 - Are companies beginning to allow pets in the office?
Key Takeaways:
70% of homes in the USA have pets / animals, while only 27% have children
75% of millennials have a dog, 50% have a cat
Pre-pandemic, 1 out of 10 people had emotional disabilities, post-pandemic it is 4/10
The national average of pet damage to rental units is $191.
The correlation between service/assistance animals and a rise in physical, emotional and mental disabilities in the country.
Landlords can be legally responsible for pet bites if there is a history of biting from the pet
Owners can see increased revenue and reduction in turnover with pet-friendly properties.
Twice as many applicants and vacancies fill faster when allowing pets
Allowing pets is the #2 rental search factor, behind price
Details of the petscreening.com program
Defining the best financial strategy for a newly acquired real estate investment can be quite challenging. In today’s episode, co-host Rob Coldwell takes a fascinating look at the latest development project of Green Springs Capital Group with founder Brian Green.
Brian@greenspringscapitalgroup.com
@greenspringscapital
www.greenspringscapitalgroup.com
Brian takes us step by step ofworking through the entitlement process on a 42 unit subdivision project which includes 6 condominiums and 36 apartments with a total project cost of $12.5 million dollars. Discussing in detail the initial challenges and the business plan to sell off the condos to recapitalize the project, refinance the apartments at stabilization, and holding long term with his company managing the properties. This project includes relocating an existing historic building!
Brian Green is the Founding Principle of Green Springs Capital and has been investing in real estate for the past 8 years. His experience began by acquiring small multi-family properties, managing the reposition through extensive renovations and property management initiatives, refinancing at after repair value, and then self managing the newly stabilized property.
This early experience laid the groundwork for the systems and processes that became Green Springs Property Management. Under his leadership and with a proven track record as a successful entrepreneur, Brian’s primary role is to oversee all company operations with special focus on acquisitions, investor relations, and company finances. Before real estate, Brian founded a chain of retail stores that grew to over $10 million in annual sales before successfully exiting the company in 2014. He is a licensed NYS broker and has a Masters in Business Administration.
Timestamps:
0:00 Introductions
5:05- Current business numbers
11:33 - Getting Started in Property Management
16:29 - What does redeveloping an apartment look like
23:45 - How do you and your brother work together
26:40 - Talk about the property you’re developing
36:31 - What was worked out at the agreement of sale
41:50 - Things to build into the lease
45:13 - How much was the land / what are your costs
53:45 - Closing question
Key Takeaways:
Don’t Make Exceptions in Property Management
Strategy on Refinancing
Advantages of 1-2 Bedroom Investments
Defining Redevelopment
Process of Relocating Tenants During the Redevelopment Process
Roles within a Self Managed Business
What is Ground Up Development
Minimizing Common Areas will Minimizes Ongoing Costs
Working with Community Groups helps Achieve Approval
Costs of Existing & New Construction Projects
Choosing the right property management company can be a daunting task for the majority of investors especially during an unstable economy. How will a recession affect the real estate and property management industries? What should owners be looking for when vetting a company to oversee their properties? How are property management companies using technology to service their clients and what outcomes should an owner be looking for? These are just a few of the questions that our host TJ Hock and guest Matthew Kaddatz tackle during today’s episode leaving you with the answers needed to make the best decision for your real estate portfolio.
Matthew is the Senior Director of Product, SMB Market at Appfolio, a leading provider of cloud-based business software solutions in real estate. Matthew has spent the past 15 years working in the property management industry with experiences including founding and operating a property management company, as well as building technology for property management companies. In his current role, he is responsible for ensuring AppFolio is continually building innovative tools that help property management businesses grow and become more efficient.
/in/matthewkaddatz
Appfolio.com
Timestamps:
0:00 - Start
1:38 - How does recession affect Property Management?
5:02 - Thoughts on Realtor relationships with Property Management
7:50 - How can Property Managers make the best of the recession?
10:33 - How is technology changing to help Property Managers service their clients?
15:14 - What are Property Owners looking for as far as technology?
20:27 - Are you seeing a way Property Managers change how they run their business?
22:20 - Affordably scaling your company amid rising costs
23:52 - Thoughts on retaining talent
Key Takeaways:
- Don’t compare this recession to the 2008 recession
- There is great value in working with a company who is solely focused on property management
- It is important to have a Property Manager who knows the rental market very well
- The best asset a Property Manager has is their maintenance vendors
- The rental market is an important factor in whether you sell or rent your home
- Software is less about the technology and more about helping the client
- Look for off market deals and build your network
In today’s episode, our co-host Rob Coldwell kick’s off our special series “Renovating to Your Renter”. Rob’s guests will include investors who have decades of experience in renovating section 8 housing, student rentals, short term rentals such as Airbnb and VRBO and luxury destination homes! We will also hear from one of the nation’s top organizations who works exclusively with traveling healthcare professionals in the mid-term rental space. Our guests will also share their expertise and advice for what to include (and not include) in your renovation budget, risk factors and benefits when renting to a particular tenant base, operations and much more! This dynamic series will answer all of your questions to ensure that you will receive the best return on your investment!
Michael McManus is a seasoned business owner and entrepreneur who, along with his wife Melissa, has built a portfolio of single-family homes and operates a successful business managing numerous Airbnb properties. Short term rental units can bring in more than 25% rental income than long term leases, which can mean big money for the investors. We will be discussing what happens behind the scenes of managing a short-term rental, the risks, best practices and how his team ensures a successful experience for his guests. If you have ever had any interest in jumping into the short-term rental market, this episode is for you!
0:00 - Introductions
3:03 - Why White Walls?
7:05 - Switching from long term to short term spaces
12:15 - Legalities of short term rentals
17:55 - What does Michaels team do?
20:17 - Monitoring automation (care of unit, renting, etc)
23:08 - Why contract out management?
24:50 - How important are reviews?
25:55 - Can low ratings be corrected?
27:10 - The risks of short-term rentals
29:55 - MIchaels’s other Photography businesses
30:40 - Bonus question!
Key Takeaways
Short term rentals earn 20-25% more than long term
Most municipalities allow you to rent your own home however you choose
Owners should personally drop in every 3 months
When the technology works, automation makes short-term rental management easier
Hiring a manager costs money, but saves a ton of hassle
Reaching out to unsatisfied guests can improve your ratings
Higher prices attract a better clientele
Short term rental arbitrage are a great segway to real estate investing
Making connections is one of the best parts of real estate investing
https://www.rentwell.com/back-office-support
swatson@rentwell.com
484-680-3840
If you are an investor who would like to continue to manage your property but needs support to ease some of the general tasks associated with being a landlord then this is the episode for you! Join Co-Host TJ Hock and Rentwell’s Business Development Manager Sean Watson as they discuss an exciting new offering called Back Office Support Services. This service package leverages Rentwell’s expertise and in-house resources to help manage your investment by assisting with rent collection, field maintenance calls, monthly reports and much more!
As a licensed realtor and real estate investor, Sean has over 10 years of experience within the property management and real estate industries. His expertise has helped hundreds of Rentwell clients maximize their investments by offering quality property management services and cost saving strategies. Back Office Support Services is your answer to staying in control of your property while eliminating some of the daunting administrative tasks that can be overwhelming and time consuming!
0:00 - Start
1:00 - What is Back Office Support?
8:36 - The Front Line of Defense
9:40 - Who is Back Office Support not good for?
13:00 - An upside for your residents
15:06 - Specifics offerings of Back Office Support
19:08 - What does the landlord do?
21:06 - The importance of schematics
Key Takeaways
Back Office Support takes care of the mundane tasks of property management
Investors can continue to manage their investments with back office support
Helps residents by providing more payment options and tracking
Alerts the tenant and property owner when insurance needs renewing
Matterport is a tool that can assist with future remodel projects, tenants with furniture, etc
Sean Watson is the Business Development Manager for Rentwell and has been with the company for 10 years. His primary focus is working with investors to maximize their real estate portfolios by delivering strong financial results and cost-saving strategies. Sean is a licensed realtor, investor and is a graduate of Mount Saint Mary’s University with a degree in business. He currently resides in Philadelphia, Pennsylvania.
Author: “The Culture Blueprint”
www.RobertRichman.com
Robert Richman, former Zappos Culture Strategist and co-creator of Zappos Insights joins Co-Host TJ Hock in today’s powerful episode discussing culture in the workplace. As one of the world’s authorities on corporate culture and author of The Culture Blueprint, Robert will share his knowledge and systematic guide to building a high performance workplace.
Zappos Insights is a Zappos subsidiary educating companies about the secrets behind Zappos’ amazing employee culture and world-class customer service. Robert took the proof of concept from a small website to a multi-million dollar business teaching over 25,000 students per year.
As one of the world’s authorities on employee culture, Robert is a sought-after keynote speaker at conferences around the world and has been hired to teach culture in person at companies such as Google, Toyota, Westin, Salesforce, Anthem, Bridgestone, and Eli Lilly.
Robert advises companies on how to build culture through experiences. Using principles of high performance and self-organization, Robert creates an event called Open Space that lets the group focus on what they are most passionate about then follows up with recorded insights and action items. He works with companies both virtually and in-person to tap into the full potential of their teams.
Robert is also well-versed in the cryptocurrency markets and is writing his next book, The Decentralized Company – An open-source guide to building a self-managed, distributed workforce.
A graduate of Northwestern University with a degree in film, as well as from Georgetown University’s Leadership Coaching Program, Robert is a member of the Transformational Leadership Council, and he is based out of San Diego, California.
0:00 - Intro
1:36 - About Robert Richman
2:55 - What is “Culture Hack?”
5:46 - How do you find feedback on culture?
10:08 - Agreements vs Demands
16:00 - Habits of highly successful people
20:14 - The 99% Rule to stop annoying your employees/customers
21:14 - Culture shifts today in the workplace
28:48 - Closing thoughts
Key Takeaways:
• Defining Culture Hack in the workplace
• The difference between Agreement vs. Demand
• Vulnerability within business culture
• Habits of Highly Successful PeopleQualities of a great leader
• Rules should be for 99% of the company, not the offending 1%
• How to find honest feedback regarding culture within your organization
Today’s discussion uncovers a fascinating tool that can literally change the way we do business, our voice! Join TJ Hock as he interviews Tracy Goodwin, voice expert and owner of Captivate the Room as she shares her experience in the field of studying, researching, and understanding the psychology of the voice. Why we use our voice the way we do, how our voice is being processed in the subconscious of the listener, and voice-work at a deeper level are just of the few areas covered within this interview. No matter what the subject matter is or how large the audience may be, TJ and Tracy will help prepare you for your next business meeting, presentation, or one-on-one conversation with a co-worker.
Tracy can be found at www.captivatetheroom.com
Linked In: https://www.linkedin.com/in/tracyagoodwin/
Instagram: Captivate the Room
Facebook: https://www.facebook.com/captivatetheroom/
Twitter: tracyagoodwin
Podcast: Captivate the Room
Over the last 30 years Tracy has coached thousands of celebrities, business professionals, entrepreneurs and even supreme court justices on how to find their voice and captivate the room so they inspire others and make a bigger impact with their message. Tracy’s unique approach, the Psychology of the Voice gets to the core of limiting certain voice habits and changes them for a better outcome. People all over the world seek her out for her expertise to free the barriers that keep them from getting to the next level in their business and personal lives.
+0:25 For Audio Version
0:00 - Start
3:42 - The psychology of the voice.
5:41 - The dialect comes from the subconscious
10:31 - How does voice study translate into leadership?
18:01 - How does a direct approach benefit conversation?
23:50 - Team member may not have input, and that’s okay
26:13 - Tips for improving your voice
28:32 - Why do we assume what the other person is feeling instead of asking?
31:00 - Rapid Fire questions
34:04 - Does this apply to written communication?
Key Takeaways:
Our voice is our greatest, most underutilized asset
Somebody who feels attacked in conversation won’t engage
Reframing conversations so people feel seen and heard
How foreshadowing acts as if the outcome is yours
Defining “direct conversations” and tonal neutrality
It is not about your words but what the listener hears
How to use direct conversations to seek resolutions and improve productivity
Your voice will not work if you are not present in the conversation
Book Reference:
Worthy Human: Because You Are the Problem and the Solution by Tracy Litt
www.argooddoctors.com
@abbeyresearch on socials
kristendonnelly@abbey-research.com
The role that empathy plays within an organization is key to building high performing teams and successful leaders. Join our host TJ Hock and his guest Kristin Donnelly as they take a deep dive into the meaning of empathy, emotional intelligence and the simple techniques that you can use to enhance the culture within your organization while motivating team members.
Dr. Kristen Donnelly is an award winning, four time TEDx speaker, empathy educator, writer, and business owner who believes that curiosity can change the world. She and Dr. Erin Hinson form The Good Doctors of Abbey Research, who exist to help individuals and
organizations as they cultivate inclusivity and engage empathetically with those around
them.
She has spoken internationally - from Oxford University, to TEDxChicago, to national association conferences - and her work is routinely featured in global media publications.
(Audio Times + 0:30)
0:00 - Learning to lead with empathy
6:37 - What does holistic wealth mean to you?
9:01 - Wake Up Call to Business Owners
11:38 - What is emotional intelligence?
15:28 - How does somebody start learning empathy?
21:57 - How do you find empathy when coming from a place of anger?
24:48 - Book recommendations for learning empathy
26:10 - Does lack of empathy at work contribute to exhaustion?
36:50 - Quick questions
What is emotional intelligence?
Emotional Intelligence is fundamentally knowing yourself and being patient enough to understand other people. As humans, we have a tendency to think everyone else sees the world the same way we do. Being able to see other people as themselves instead of a carbon-copy of ourselves is one of the first steps in understanding emotional intelligence. This all begins with empathy.
Examples of Active Listening Techniques:
Most people are only thinking about what they are going to say next when in a conversation, but this is usually not the best way to engage with another person. Kristen Donnelly gives us some tips to learn how to be more of an active listener, therefore engaging better with the person you’re talking to. The better you engage, the more of a positive impression they will have of you!
Key Takeaways:
Empathy within the workplace creates a stronger team
Empathy is something you can logic
Defining emotional intelligence and its role in the workplace
Ask more questions, make less assumptions
Active listening techniques
The differences in generational leadership
Holistic Wealth
Every human wants to be seen, heard, and understood
Corporate burnout is caused by our culture
Tiny changes will eventually become habits
References:
Dare to Lead by Brene Brown
To Kill a Mockingbird- Harper Lee
PBS Docuseries Asian American
Untethered Soul is 10 years
https://www.newharbinger.com/pages/my-untethered-story/#:~:text=Now%20a%20%231%20New%20York,Soul%20has%20changed%20people's%20lives.
www.TimODavis.com
www.EveryMansMastermind.com
If you are looking to start the New Year off on the right path, then this episode will help transform not only your year but your life both professionally and personally!
Today’s guest, Tim Davis, is a Spiritual Transformational Coach and 30 year resident at the Temple of the Universe. Listen as Tim shares his journey as a successful professional in media, management and production all while studying and practicing spiritually under Michael A. Singer, Temple of the Universe founder and New York Times best-selling author of “The Untethered Soul”. Tim’s mission is to share everything that he has learned under Michael to help people around the world incorporate spiritual practices into their everyday life.
Here are some powerful takeaways from today’s conversation:
- Spiritual Practice is more straightforward than it seems
- What it means to “Work on the Spiritual Work”
- The techniques and benefits of meditation
- Reacting to adversity with calmness
- The history of The Temple of the Universe
- The conception of Michael Singer’s book “The Untethered Soul”
- Tim’s guided series of “The Untethered Soul”
- Future events at The Temple of the Universe
In Tim’s Words:
No one knows you like you do. In act 1 of Hamlet, Polonius gives his son, Laertes, his blessing and advice on how to behave while at college saying, “To thine own self be true.”
However, at some point, we all need help looking past the layers of distraction, fear, and unproductive programming so we can reorient ourselves to align with our true nature. It helps to have someone on our side who can guide us and who truly has our best interests at heart.
Sharing what I have learned with Michael A. Singer during my 30 years of living at the Temple of the Universe is one of the highest experiences I have had in life. Mickey’s teachings, the power of our community, and the commitment to daily spiritual work are so
me of the reasons I live in this spiritual community.
This is where I learned many of the lessons that have helped me to live in alignment with my deepest self while facing life’s challenges and opportunities, including stressful careers, establishing deep, loving relationships, being a positive force with co-workers, and helping my employees to advance and grow in their career fields.
These lessons apply to all of us, from my incarcerated brothers as I volunteer to teach courses on the Untethered Soul in Florida’s prison system to business leaders and athletes.
2:50 - Beginnings with Temple Of The Universe
15:22 - What does ‘Work on the spiritual work’ mean to you?
29:56 - How do you react to adversity with calmness?
39:10 - Using ‘relax and release’
46:37 - Discussing ‘The Untethered Soul’ Zoom Talks
If you’re considering commercial real estate and looking to which market to invest in, then you’ve got to check out today’s episode as real estate investor Scott Zukin offers hiswealth of knowledge. Scott shares the keys to success in commercial real estate as well as the beauty of living vicariously through the businesses you place in your building.
Cleaning hallways just to get through college and pay for his rent, Scott learned the value of a hard work ethic early on. He was running a cabinet-making business until he realized the skill-based nature of the business and that he was only as good as his hands. He decided to move to West Chester to work for his dad’s real estate business where they managed to grow the team and the business from 25 properties to now 65 mixed-use properties. West Chester is consistently voted "one of the best places to live” because it has its own buzz.
Here are some power takeaways from today’s conversation:
- Buying properties next to each other
- Carefully placing tenants in your building
- Focusing on the balance sheet vs. the cash flow
- Things to consider when you’re looking at which markets to invest in
- Putting your focus on relationships
- How your relationship with money changes
- Why Scott calls his mom the Dalai Mama
- The charities he supports and a huge project he’s working on
Episode Highlights:
[13:42] TIps in Buying Commercial Real Estate
Consider real estate properties that are next to each other. It’s much easier to just get along with yourself than to deal with other owners next to your property. If a tree has to come down, then you just cut it down. You don't have to call your neighbor and negotiate who's going to pay for what. That way, you create your own destiny. In commercial real estate, how you carefully place tenants in certain buildings is what defines your progress. You don’t want to be stuffing your building with a bunch of Italian restaurants. Instead, diversify the kinds of businesses you want to place in your buildings, and focus on building relationships and preventing vacancies.
[21:39] Balance Sheet vs. Cash Flow
Look at the debt side of the business instead of the cash flow side of the business. When you’re working on getting the debts paid down, you’re focusing on the balance sheet side of the business. Now, a lot of people are focused on cash flow. The challenge, however, is you don't want to necessarily make a big improvement on the roof if you’re just looking at the cash flow.
[28:19] Things to Consider When You’re Looking at Which Markets to Invest In
There’s no one formula that works. The perfect mix in one area is not going to be the same mix somewhere else. You’ve just got to take a chance, go slow and carefully, and it takes a little bit of gut and a lot of numbers, as well as a lot of belief in the skills that you have.
[37:43] Changing Your Relationship with Money
Your relationship with money changes once your basic needs are met. Sometimes, it's almost a spiritual thing. The money flows if you allow it to flow. Don't fall into that trap of lusting for the next deal. Take a step back and block time for yourself and your family.
Resources Mentioned:
https://zukinrealtyinc.com
As human beings, we are always negotiating. Especially in the real estate space, we're negotiating all the time. In today's conversation, Eirik Davey-Gislason joins us to talk about the art of negotiation and to share persuasion principles and competitive tactics for a successful negotiation. Eirik is a master-certified negotiation expert and an instructor for the Real Estate Negotiation Institute (RENI).
Episode Highlights:
[02:01] Learning the Art of Negotiation
We oftentimes think of negotiation as a win-lose proposition or this fixed pie. It then creates within us this idea of binary choice, where we’re either on the winning side or the losing side of this negotiation. Getting nervous in a negotiation is normal especially when there are stakes involved. And the way to overcome that is to get rid of this fixed-pie mentality. Go into it with this idea that there's value to be created then you can start finding ways to grow your side of the pie. The idea is to reframe negotiations from a win-lose proposition to how you can be strategic in your plan so you can create value and get as much as you possibly can from your side while adequately satisfying the other side.
[10:07] Tips for Preparing for a Negotiation
First, have systems in place that allow you to structure that negotiation. Gather information from your side first. Understand what your client is looking for, what they want, what they need, and what their must-haves are. Understand what their experience has been, what their apprehension is, and their risk tolerance. Then find out the power balance between the relative parties. Understand what the other side is trying to achieve, what they want, and what they need.
[13:57] Common Pitfalls in Negotiation
Giving away too much information is a huge issue at the beginning of negotiation for many negotiators. They start talking to the other side and they're giving away information that they shouldn't give. This could lead them to identify what they could give you that's low value to them and get something that's relatively high value to them. The other issue is not being ceaselessly curious. Instead, we have to continue asking questions and gathering information as much as we can. There are also ways that we can influence and persuade the other side to give us more information. There are tools of influence and persuasion that you can use and understand competitive negotiation tactics.
[18:13] The Different Persuasion Principles
The self-interest principle is the idea of getting someone to understand that what you're persuading them to do is in their interest, not yours. The contrast principle is the idea of influencing the other side by reframing their contrast or by injecting contrast into your ability to persuade. The reciprocity principle is the idea of making connections with each other. The uniqueness principle is another effective one in negotiations which is the idea that you're offering them something that is unique.
Resources Mentioned:
Interested in real estate coaching? Reach out to Eirik through his coaching company Archway Partners.
Instagram: @eiriktheexpert
Youtube Channels: Eirik the Expert
www.thereni.com
Never Split the Difference
Negotiation Genius
As an entrepreneur, a leader, or a business owner, how do you manage stress and anxiety? There were probably times over the course of your career when you woke up with crippling anxiety or fear. And sometimes, you could still be experiencing them now. How do you then come to a place of calm and still keep your sanity?
In this conversation, Kristin Taylor discusses neuroscience and emotional regulation, as well as ways and exercises to help you get to a place of peace, joy, and authentic connection. Blending different elements of neuroscience and emotional regulation, Kristin specializes in helping leaders who are experiencing unwelcome levels of stress and anxiety.
Here are some power takeaways from today’s conversation:
- How we’re habituating stress
- What emotional regulation means
- The importance of awareness
- Ways to down-regulate your emotions
- How to practice ratio breathing
- The benefits of emotional regulation
- Why self-compassion is difficult
Episode Highlights:
[02:26] Coming to a Place of Calm
Many people try to manage stress by trying to out-think their bodies. But you can’t out-think stress. We need to learn to calm the body and the nervous system because 80% of communication goes from the body to the brain. But we think that our brains are in control so we can just out-think stress. Then we start to judge ourselves and create these narratives and faulty belief systems about our own brokenness.
[04:55] What is Emotional Regulation?
Kristin gives the traffic light analogy where emotional regulation can be green, red, or yellow. The Green zone is where we are emotionally regulated. We are connected to our values, joy, presence, and spontaneity. Through techniques like breathwork and other nervous system drills, we need to get back to that place. But due to the demands of our lives and this habituated stress cycle, we are either in yellow or red.
Yellow would be things like being stressed about the traffic or you have all these emails to read through or deadlines to meet. Yellow is when you say "I have to" and it feels like the weight of the world is on your shoulders.
When you get into the red zone, it's called burnout, if it is sustained for a long period of time when it's not meant to be. It's that feeling of struggling to find the energy and you're in a sense of overwhelm. In this zone, you're being dysregulated. It impacts mood, energy, and the part of the brain we are operating from. And we want to be operating from the prefrontal cortex, the most evolved part of your brain. But if we are in either yellow or red, "I have to" or "I can't," we are operating from the amygdala or limbic system, the most primitive part of your brain.
[09:03] Ways to Down-Regulate Yourself
The first step is awareness. You have to acknowledge it and give it a name. Whether it's stress, anguish, fear, or anxiety, acknowledge it and see if it's yellow or red. It's not who you are, it's just a state of being. It's not a trait of who you are. It's simply something you are experiencing.
The next thing is to breathe. There are specific ways to do that and one of them is through ratio breathing. When we inhale, we’re upregulating. It’s the “fight or flight” mechanism. Then when we exhale, we’re down-regulating. It’s the “rest and digest.” In ratio breathing, your inhale is shorter and your exhale is longer. Mindfulness is sustained moment-to-moment awareness and asking yourself what you're feeling, what you're thinking, and what is your belief.
Resources Mentioned:
www.kristintaylorconsulting.com
Email: kristintaylor@gmail.com
Death and taxes – these are the only two things that are guaranteed in this world. But what if there was a way for you to defer taxes as a real estate investor?
In today’s conversation, Margo McDonell, President and CEO of 1031 Corp, joins us to explain how you can take advantage of a 1031 exchange as a real estate investor. It’s more than just not having to pay the taxes, there are a lot more reasons why you might want to start looking into this great long-term strategy!
Here are some power takeaways from today’s conversation:
- Why a 1031 exchange is important
- Other benefits of a 1031 aside from the tax break
- Things to consider when doing a 1031 exchange
- How depreciation recapture is factored into the exchange
- Possible roadblocks when doing 1031 transactions
Episode Highlights:
[03:37] The Importance of a 1031 Exchange
A 1031 exchange is a tax break that allows for a real estate investor to sell a property and replace it with another one that works better for them. They then get to defer the federal capital gains, the state income tax, and the depreciation recapture. Using the 1031, they can grow their real estate portfolio with pre-tax dollars.
[04:09] The Multiple Advantages of a 1031 Exchange
A 1031 exchange has so many advantages beyond just the tax break, such as being able to buy something that works better for you or something that generates greater cash flow or that’s easier to manage. It’s a great long-term investment strategy and a great exit strategy. You can sell your business and sell the real estate attached to it and then use that as a steady cash flow for you in retirement. You can acquire a rental property in a resort area, and when you're ready to retire, use it as a second home or primary residence.
The IRS code allows the seller of the real estate to not pay a significant potential portion of taxes due. For instance, you can sell a single-family rental to buy a multifamily. You could sell that piece of vacant land that you bought, and you were going to build something on and you never did. And exchange that for three single-family rentals that are going to bring in cash flow for you. Or you could sell 10 single-family rentals, individually or as a package, then take all the proceeds from all of those properties without paying any federal or state taxes, and roll it all into that 30-unit apartment building that you’ve been wanting.
[10:55] Things to Consider When Doing a 1031 Exchange
When you do a 1031 exchange, you have 45 days to identify the new property from the day you sell your first property. At the same time, you have 180 days to buy the new property. Regardless of what the real estate market is doing at the time, be sure to plan ahead and really look for that property. Try to line up that replacement property so you're ready to go. If you're selling multiple properties, timing is definitely the trickiest part of that transaction, unless you package them and sell them all together, which is what most investors do.
The 1031 exchange also does not work when you're buying from a related party, unless the related party is also doing a 1031 exchange, or if the related party pays tax, and they pay more tax than you would have paid without the 1031 exchange.
Now, when you pass away, your heirs inherit everything through a Stepped-Up Basis, meaning all the gain is deferred at that point in time. And depending on the size of your estate, you may or may not have estate taxes. Hence, it's also a very powerful wealth accumulation strategy.
Resources Mentioned:
www.1031corp.com
Whether you have your own business, or you’re in the process of building out a team, one of the pillars of an organization is strong leadership. And the kind of leader you will become dictates the kind of culture you’re creating within the team. In today’s episode, veteran and leadership coach Jody Fletcher shares some powerful leadership principles you can start applying to your own team or organization immediately.
Here are some power takeaways from today’s conversation:
- Not making it about yourself
- The ninth letter leader principle
- The biggest contributor to bad culture
- What is a dynamic leadership
- Indicators of a great culture
- The importance of checking in with your people
- How to learn to say no
Episode Highlights:
[06:01] The Ninth-Letter Leader Principle
“I” is the ninth letter of the alphabet. I, me, and mine are pronouns that project individualism, ownership, and selfishness. People don't want to work for ninth-letter leaders, but there's also a positive side to a self-aware ninth-letter leader. It's a leader that says they know their core values and what they stand for. They do the very best they can to show up as the best version of themselves every single day.
[07:15] The Biggest Contributor to Bad Culture
Culture is directly related to or the direct responsibility of the leader. Anytime there's bad culture, there's generally a bad leader. Good humans don’t automatically become great leaders. They need the right training, mentorship, and coaching. But if you’re not a good human, you’re never going to be a great leader. As a leader, you have to figure out what motivates them to lead and they need to start the journey of self-awareness because the more self-aware you are, the better human you are, and the better leadership potential you have.
[11:55] What is Dynamic Leadership?
The only thing you can control is yourself. Everything else is all based on influence through inspiration, which is dependent on the person you’re working with. Being a dynamic leader means meeting your people where they are, and that changes daily per person. Get it into your heart and soul that it's not about you, it's about them.
People have a really hard time having candid, difficult, or uncomfortable conversations with somebody on their team. But if you've built solid relationships with your people, they're going to be open and appreciative of how you're trying to make them better.
[30:41] How to Start Saying No
Oftentimes, when we say yes to something and we end up doing the thing that we didn't want to do, we resent whoever it is that has caused us to do that thing. And so, you're not showing up as the best version of yourself. When you learn to say no to something you really don't want to do or can't do, you're going to be a better version of yourself.
Establishing boundaries to build time for yourself is part of self-care and self-worth. And if you don't do those, you're never going to show up the way you want to show up both – at home, in other relationships, and at work.
Resources Mentioned:
E5 Professional Coaching
Essentialism by Greg McKeown
We are all in search of peace and happiness. However, we go about it seeking it in the external world, via thoughts, feelings, images, memories, perceptions, objects, purchases, and accolades. But that only brings temporary pleasure – never true happiness.
In this episode, Pat Croce, former president of the Philadelphia 76’ers, shares his wisdom and some practical tips to help you walk through life and enjoy this journey of life.
Here are some power takeaways from today’s conversation:
- The search for true happiness
- From everything matters to nothing matters
- Sharing happiness instead of seeking happiness
- Overcoming fear and when grace is at work
- Freedom from the ABCD’s
- The five types of thoughts and the goal of meditation
Episode Highlights:
[07:28] The Search for True Happiness
Happiness is the absence of lack and the absence of desire. It’s not a pleasurable state of mind, but beyond any state of mind. It's not something that can be described. Instead of seeking happiness, share happiness. The key is to not get attached to the outcome.
[09:55] From Everything Matters to Nothing Matters
For a lot of people, everything matters. We tend to worry about what other people think about us, and we end up suffering. We get angry and frustrated. We put the blame on others, we compare, and we expect. However, your thoughts, feelings, and sense perceptions come and go – and what’s left is you. That awareness of your presence never goes anywhere. And when you become that witness of this show called life, that witness will now go from everything matters to nothing absolutely matters. Then this witnessing presence of being aware has no borders.
[20:53] The Recipe for Success
Your to-do list should not be a means to an end. The means is the end. Every time you do an action step and you put a checkmark next to it – that's a celebration.
The how in the now creates the wow. If you’re in the present moment, you’re not projecting to the future and you're not pulling from the past. Light flows through you and there is no fear in the now.
[25:00] Overcoming Fear
FEAR is just False Expectations Appearing Real. It's a negative condition mindset that pervades the human race. But you see it and you see what it does to you. They become beliefs and fear-based feelings. When that happens, you are emanating a low vibrational frequency and you’re attracting the same. Instead, if you emit a high vibrational frequency by being present, aware, compassionate, and kind, you attract a like frequency. Then things start to happen and come your way, and we call that serendipity. But serendipity on the spiritual path is a barometer to know you're on the right path.
[50:34] The Goal of Meditation
The goal of meditation is – there is no goal. You just have to witness and welcome your present experience without any judgment. Whatever the thoughts and feelings are, nothing is wrong. You can use a mantra, transcendental meditation, a flame, or use your breath. It doesn't matter what you do, you just have to feel comfortable doing it. You don't have to do it, and so if you have to do it, then that's ego hijacking your spiritual practice because it has taken effort. And how can effort take you to the effortless place of peace?
Resources Mentioned:
www.acshealed.org
The Untethered Soul by Michael Singer
I Am That by Nisargadatta Manaharaj
Are you consciously designing the type of experiences that will keep your customers coming back for more and keep your employees engaged? In this episode, Joey Coleman, author of Never Lose a Customer Again, teaches how to never lose a customer again. For 20 years now, Joey has been teaching companies how to keep their customers and keep their employees through his books, consulting, workshops, and speeches to audiences – small, medium, and large.
Here are some power takeaways from today’s conversation:
- The reason you only have 100 days to get it right
- You’re not counting doors, you’re counting humans.
- The eight phases of the customer’s journey
- How to develop the experience mindset
Episode Highlights:
[03:30] You Only Have 100 Days to Get It Right
Somewhere between 20% and 70% of new customers will decide to stop doing business with you before they reach the 100-day anniversary. If you want to break this down per industry, that’s 68% in the auto mechanic industry, 20% in software as a service or SaaS, 32% in banking, and 40-70% in restaurants. Just think of all the restaurants you've gone to once and never went back to again.
[05:18] The Communication Piece
In property management, we often think about it in terms of how many doors we can get and how many doors we lost. But you didn’t lose doors. Instead, you lost the investor who owned that property or the resident or the tenant who lived behind that door. You can get a boatload of doors at Home Depot, but you can’t get a boatload of residents and investors. Start getting things right by changing the kind of language you use. Then think about what you're doing to make their experience so valuable that they can't think of anything but staying with you.
[09:00] The Power of Communication
One of the biggest complaints in property management is the time that it takes for maintenance. And so, be sure to come up with a triaged list that not only can be used to educate the investor but also educate the new tenant moving in or the new resident. The responsibility for communicating outside of the sphere of something going wrong does not lie on the resident's shoulders, but on the property manager's shoulders.
[16:43] The Eight Phases of the Customer’s Journey in The First 100 Days
Phase 1 - Assess phase -a prospective resident is considering whether or not they want to move into your property. Phase 2 - Admit phase - when the resident signs the lease. Phase 3 - Affirm phase - also called the buyer's remorse phase, where they begin to doubt the decision that they just made and immediately happens right after signing the lease. Phase 4 - Activate phase - the moving day that starts when they're moving in that morning and ends that night. Phase 5 - Acclimate phase - happens between two to six months when they're getting used to the cadence of the property. Phase 6 - Accomplish phase - when the resident achieves the goal they had when they originally decided to sign the lease and become a resident. Phase 7 - Adopt phase - where they become loyal to us and only us by renewing or extending the lease. Phase 8 - Advocate phase - the resident becomes our unpaid marketing and sales team.
Resources Mentioned:
Never Lose a Customer Again
www.joeycoleman.com
Maybe someone has called you about the ERC, or you’ve probably heard of it elsewhere, but if you haven’t been filled in with the details and how it can help your business, then this episode is for you!
ERC stands for Employee Retention Credit, which was ushered in as part of the CARES Act in March 2020, providing financial assistance to business owners. It’s incredibly underutilized and many businesses don’t know about it because it was introduced alongside the Paycheck Protection Program or PPP loan.
In today’s discussion, Patrick Moran, president of consulting firm Royse Partners Limited, shares his knowledge of the ERC that business owners can take advantage of, and see if this is the right fit for your business!
Here are some power takeaways from today’s conversation:
- What is the ERC?
- The two avenues of qualification
- Who qualifies for ERC
- Considerations for the utilization of funds
- Doing due diligence when looking into this program
- What the IRS audit looks like and seeking audit protection
- The statute of limitations
Episode Highlights:
[04:36] The Two Avenues of Qualification
There are two avenues of qualification that businesses can look into. The first avenue is the Financial Impact Test. There are seven eligible quarters for this program Q1-Q4 of 2020 and Q1-Q3 of 2021. To determine if one of those quarters qualifies for the ERC, 2019 is used as the baseline year for comparison. The IRS has outlined that as the baseline, being the last normal year before COVID. For instance, to determine if you qualified for Q2 in 2021, you would compare that back to Q2 of 2019.
The second avenue focuses on the operational impact. Instead of looking at a financial metric, they will be evaluating some type of operational metric. It has to capture an aspect of your business that is more than nominal, which is a part of your business that makes up 10% or more of your whole business.
[11:26] Who Qualifies for ERC
Regardless of the industry or state, anyone could be eligible for this program. This credit is not for a government entity. This is immensely difficult for publicly traded companies and foreign ownership. It all comes down to your facts and circumstances.
Just because you did better during the pandemic does not rule you out of this program. Secondly, just because you took a PPP loan does not make you ineligible either. At the end of the day, if you are looking into this, make sure you remain an intelligent and informed consumer. Do all the research you can in order to make those decisions when vetting potential firms to work with.
[14:57] Consideration for the Utilization of Funds
The ERC is a fully refundable tax credit. It comes back to the business in the form of a check and then distributed to the business owners. It is a cash refund back into the business. It's not like the Paycheck Protection Program, where it was a loan that could be forgiven if utilized for the proper allocations outlined by the SBA.
Resources Mentioned:
https://roysepartners.com/
Email: patrick@roysepartners.com
If you’re looking to build a high-performing team, you’ve got to have the right systems in place, the right people from top to bottom, the right people in their right seats, and the right culture.
In today’s episode, certified EOS coach Rick Nelson talks about what makes a high-performing team. He shares strategies to make sure everyone in your team is moving towards the same vision.
Here are some power takeaways from today’s conversation:
- How a company can use teamwork as a competitive advantage
- Having clarity in your vision
- How to get a team to buy into the company’s vision
- The right seats and how to find the right people for these seats
- Building a culture of trust
Episode Highlights:
[03:47] Working Smart – and Healthy
Teamwork is the ultimate competitive advantage. A high-performing team will outperform, over time, a better-financed or a better-educated team. Most leaders spend their time in their businesses, working on getting stuff done and working smart. But it’s important to be both healthy and smart. A healthy team is a high-performing team, with no politicking. Everyone has to function and work together as a team.
[05:41] How to Get a Team to Buy Into Their Company’s Vision
The soul of the company is that team's culture which is defined by their core values. There has to be clarity and those core values should be able to surface in a way that everyone breathes them. It also has to start from the top and leaders have to be reeking of those core values. Ultimately, it creates a good foundation for teamwork. Then you want to use those core values to attract the right people and repel the wrong people.
The right seats are people that could consistently perform excellently in their job. They don't only fit the culture, but they also perform excellently – consistently. People are wired for different seats but the right seats are people who are really wired for their roles. If you have the right people that fit the right seats, then you've got the ingredients for a high-performing team because that's the baseline.
[12:02] How to Find the Right Seats
For you to identify the right seats, you have to identify the roles of the seat and what expectations you have for that seat. Then see if they’re wired to do it. You also have to make sure they want it. Otherwise, you can’t get consistent performance from someone who doesn’t want their job. Finally, find out if they have the capacity to do it.
The hardest decision you have to make is when you have someone who is great at their job, but doesn’t fit your culture. At some point, you will have to make the change and EOS is going to help you find clarity in that decision. You're also actually helping the person to find a better place for themselves, where they'll be happier.
[19:51] Building a Culture of Trust
Trust is the base of a high-performing team. It opens up the ability for healthy conflict and commitment. If you've got the right people, and they feel heard, they'll commit to a decision. That level of commitment ultimately ends up accelerating the progress of the organization.
Resources Mentioned:
Call Rick: 856-275-4424
Email: rick.nelson@eosworldwide.com
www.eosworldwide.com
Traction by Gino Wickman
Seven Habits of An Extraordinary Executive
Five Dysfunctions of a Team by Patrick Lencioni
In property management, anger is a commonplace emotion especially when there are problems with contractors or you have to deal with a dissatisfied tenant or investor. But what actually lies beneath that anger is a multitude of other emotions that you have to uncover before you can solve any problem.
In this conversation, lawyer-turned-peacemaker Doug Noll joins us to discuss the power of emotions. It’s all based on neuroscience. It takes a lot of practice, but once you master working at the foundation level of human nature, your life will be transformed forever.
Here are some power takeaways from today’s conversation:
- Doug’s transition from lawyering and martial arts to peacemaking
- The myth about human nature
- How to calm an angry person in 90 seconds or less
- Why active listening doesn’t work
- Ways to practice affect labeling in a positive experience
- The benefits of affect-labeling your children
- What separates a leader from a manager
Episode Highlights:
[07:38] The Myth About Human Nature
We are not rational beings, we are emotional beings. What really makes us human is our emotions, not reasoning. We're 98% emotional and only 2% rational. Never look at another human being as a rational being again, look at them as emotional beings. When you make that shift, your life will transform forever.
[09:57] The Three Steps in Dealing with an Angry Person
Step 1: Ignore their angry words. Completely turn off your ears and do not listen to those words. They have no meaning right now. As long as you're not listening, you're not going to get insulted or feel disrespected.
Step 2: Read the angry person's emotions. Emotions never come as just one emotion at a time, they come in groups. For example, anger might be the presenting emotion, but underneath it might be six or seven other emotions. You need to learn how to recognize those other emotions so you can just read the emotions that this person is experiencing. Because humans have a very limited repertoire of emotions and behaviors, it doesn't take long to master their repertoire.
Step 3: Tell the angry person what they're feeling. Emotionally reflect back to them their feelings, not what they're saying, but what they're feeling using a "you" statement. This is called “affect labeling” and you affect-label until you see these four things happening: (1) saying yes (2) nodding their head up and down (3) dropping of their shoulders, and (4) sigh of relief or relaxation responses.
In property management, once you’ve done all of the above, then you proceed to figure out the things you need to do to solve this problem. Then you enter into a negotiation.
Always deescalate. Then problem-solve. The mistake that every single person makes is they try to go to problem-solving to stop the anger. And all that does is it escalates the anger. You never go into problem-solving or negotiation with an angry person. You have to get them calm.
[25:10] The Foundations of an Effective Leader
Leaders provide three foundational psychological services to any group – focus, direction, and safety. Leaders that can create psychological and emotional safety for their teams will have high-performing teams. Just because you have a job title does not make you a leader. So you have to cultivate a large number of skills to be an effective leader. A great leader is always working on creating his or her replacement.
Resources Mentioned:
www.dougnoll.co/rentwell
Email: doug@dougnoll.com
A lot of people shy away from hard conversations for various reasons. But those conversations are exactly the kind of conversations you need in order for growth to happen.
Good news! Handling difficult conversations is a muscle that you can build. The more you practice it, the easier and the more natural it flows over time.
In this conversation, Kayla Slice and Steve Ciprani of Ciprani Consulting walk us through difficult conversations. Learn some actionable steps to preparing and managing those types of conversations as well as some pitfalls to avoid.
Here are some power takeaways from today’s conversation:
- What ghosting means and why it’s happening
- How to prepare for difficult conversations
- The three types of conversation that happen inside you
- Approaching the conversation with empathy, humility, and curiosity
- Tips for managing the conversation
- Some pitfalls to avoid
- The importance of a follow-through
Episode Highlights:
[08:19] How to Prepare for Difficult Conversations
Based on the book Difficult Conversations, there are three conversations happening to you within every conversation you’re having.
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The ‘what happened’ conversation - It refers to what actually happened, and your perception of it becomes your assumption about it.
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The emotional conversation - How you feel about it is different than what actually happened.
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The identity conversation - What does it mean to you?
The first step toward getting honest about it is thinking through your lens and your perception of what's going on with you, before you charge ahead and talk to someone else. Then approach it with empathy, humility, and curiosity. When you can do the idea exploration together, it just becomes less overwhelming and less daunting.
[20:00] How to Manage Difficult Conversations
Communication is two ways. It's the sending of a message and the receiving of a message. Figure out how to make sure that your message is getting received the way that the person likes to receive the message.
Enforce an “expectations conversation” where you commit to doing your best to come to terms and communicate before the business relationship starts.
If there are things that you're holding on to that are interfering with the relationship, they're going to come out one way or another. So they might as well come out in an authentic way.
Work within someone else's story and let them work within your story and hold those in tandem. Just be present and hear what they're feeling.
Don’t be afraid to be vulnerable. Embrace your emotional state. Don't run from it and come from authenticity because people can see through it.
Resources Mentioned:
www.cipraniconsulting.com
Email steve@cipraniconsulting.com or kayla@cipraniconsulting.com
LinkedIn: https://www.linkedin.com/company/ciprani-consulting
Books:
Difficult Conversations: How to Discuss What Matters Most
Emotional Intelligence by Daniel Goleman
The Hard Thing About Hard Things by Ben Horowitz
If you’re looking to build a high-performance team, the key is to not put everyone in your team in a box and use the same approach. It’s not a one-size-fits-all. Everyone is different, therefore, how you interact within your team has to be different as well. A very effective way to get to know and understand your team better is by knowing their specific Enneagram types.
In today’s conversation, real estate agent and business coach Caleb Knecht talks to us about the power of using the Enneagram to create high-performing teams. He couldn’t stress enough the importance of self-awareness, which was something he built upon with the help of the Enneagram. Listen in to learn more about the power of assessment, how to build trust among the team, and why self-awareness is the key that unlocks so many doors of opportunities both in business and in life.
Here are some power takeaways from today’s conversation:
- The benefits of knowing your Enneagram
- The importance of self-awareness in a business
- Using the Enneagram to make better-informed decisions
- The value of knowing your team’s different Enneagram types
- How to build trust among the team
Episode Highlights:
[01:48] Knowing Your Enneagram Type
There are nine different Enneagram types and what's best about you is also what’s worst about you. By knowing your type, you develop self-awareness and you get to understand other people and why they behave a certain way.
Your Enneagram type is a coping mechanism that you develop early on in life to deal with the tough things in life. It’s a strategy that you embrace to try to make it through your childhood or young adult experience, and keep going.
[08:08] Using the Enneagram Type to Your Advantage
Taking a personality assessment doesn’t exist to put you in a box and tell you what to do. But it's the opposite. When you understand your Enneagram type, you will understand how you will naturally show up in a given situation. And then you can make a conscientious choice once you're aware of how you're naturally going to show up.
For instance, you’re an Enneagram 7 which means you’re thinking seven steps in the future. With that awareness, you’re going to be intentionally present in the moment. And so, there’s value built upon knowing you are a 7 and using that knowledge to step up and act upon it. Hence, your Enneagram type doesn’t define you, but it helps you make better-informed decisions.
[10:23] The Application of Enneagram in Teams
Knowing the Enneagram types of people in your team brings a different level of emotional intelligence to the conversation. For instance, how you interact with a 3 is different than how you talk with an 8. This gives you the power to create high-performing teams.
During the onboarding of a new member, you can sit down and talk about your numbers. That way, you’re able to set and manage expectations and facilitate conversations you otherwise wouldn’t be having.
[20:03] Building Trust Among the Team
Culture is so important in any team and any company. An employee will leave a manager, not necessarily the company. And with all the challenges between the great resignation and the challenge of finding team members and keeping really good team members, how do you take it to the next level to build trust and accountability as well as connect with one another? The Enneagram is, therefore, a very powerful tool that you can use to make this possible.
Resources Mentioned:
Road Back to You
LinkedIn: https://www.linkedin.com/in/caleb-knecht-7367173/
In 2009, Joe Colosuonno bought his first property, a garden-style, 60-year-old, 31-unit apartment building located in a rough area. 12 years later, they have doubled the rent and tenancy is great with a turnover rate of less than 20%. The area is now up and coming with an event center and an arena being built currently. They have also entered into managing and owning about 425 units including some commercial properties as well as getting into ground-up construction and development.
In this conversation, Joe offers his experiences with the land development process, return on investment models and some of the property management metrics which you can apply to help you reach your goal and expand your portfolio!
Here are some power takeaways from today’s conversation:
- Managing the land and development process
- Joe’s overall real estate portfolio
- Converting a 12-unit property to a 40-unit apartment property with approvals
- Stormwater management and off-site improvements when buying old properties
- What the planning looks like after the zoning approval
- The similarities and differences between building 3-bedroom and 1-bedroom properties
- A look into Joe’s engineering design perspective
- Some of the property management metrics they’re tracking
Episode Highlights:
[13:17] Converting a 12-Unit Property to a 40-Unit Property
Joe purchased a property that was sold based on the performance of the front building, which was the asset. It's a 12-unit building with a 40-car parking lot. And so, they bought it with a cap rate that was off the 12 units, without thinking they could get 40 apartments on that 40-car parking lot in the back. With approvals, those apartments will be worth $25,000 a unit, creating $800k to $1 million dollars in value, compared with the $300k if they only had the 12 units.
[15:42] Off-site Improvements and Stormwater Management
Based on Joe's experience, in terms of off-site improvements, like a traffic light at the end of the block, for instance, Joe says that the city can't mandate you to spend money on it.
In terms of stormwater management, it’s going to be different for lot sizes, over and under one acre. Under one acre, you need to just get your municipal approvals and county approval. If you go over an acre, you have to get an NPDES permit. (NPDES stands for National Pollutant Discharge Elimination System). This process takes about nine months where they review the stormwater and make sure there's no off-site discharge. This is why Joe likes building on parking lots, because they are 100% impervious.
[41:55] Metrics a Great Property Manager Should Track
Joe shares these metrics they're tracking:
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A 48-hour turnaround on all work orders
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One week turnover time frame from when they go vacant
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Zero callbacks after moving
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A 5 out of 5 rating
Resources Mentioned:
LinkedIn: https://www.linkedin.com/in/joseph-colasuonno-b761bb4/
What have you done to invest in yourself so far? If you’re not a firm believer of self-education and accountability, then this episode is for you!
Drew Farnese is the CEO of Revamp 365. In the real estate investing space for eight years now, like many others who started on this path, Drew wanted to do more and be more so he could provide for his family. He started down the path of self-education and began building his portfolio while still working at that time.
In just less than 10 years, Drew has dealt with around 300 properties. For the last two years, he has been focusing on growing and scaling the wholesale company and currently has 45 deals in his pipeline. Already stacked up right now, they are massively and rapidly growing and expanding.
The goal? 365 wholesale transactions next year!
Here are some power takeaways from today’s conversation:
- How he got started in real estate
- How his rental portfolio looks like today
- What sets him apart from other wholesalers
- The decision to give 150% of his effort to real estate
- The best ROI you will get from self-education
- The importance of coaching and being accountable to yourself
- How to quantify the success of a real estate business
Episode Highlights:
[08:56] What Will Set You Apart From Other Wholesalers
Do what you say, and say what you do. Be the company that you would like to work with. Have integrity and admit when you're wrong.
Drew shared a story of how he recently dealt with an issue where they were not able to deliver what wasn’t promised. Although the contract said they didn’t have to pay for it, he was humble enough to admit that they had erred and they should have done better. They should have communicated better and set clear expectations. In the end, Drew owned up to it and paid up.
[22:10] The Best ROI From Self-Education
The best return that you're ever going to get is in self-education. It's going to take you so much further, and it does scale. Someone can give you an idea for a marketing campaign today. It may get you results, but you will eventually realize all the other bottlenecks exist in either their technical skills or their network. But when you invest in self-education and understand who you are, why you are the way you are, as well as your technical skills, you will get a return on that for the rest of your life.
[30:07] The Power of Coaching and Accountability
A lot of times, we're not accountable to ourselves. We're accountable to everyone else, but not always to ourselves. But if you spend money on something so that you can have someone to hold you accountable, there's no way you’re not going to perform, go out, and take action. That is why joining masterminds or hiring a coach is very powerful.
[46:45] The Power of Relationship and Clear Communication
You have to have strong relationships with the people you're working with, working for, and working for you. Otherwise, how can you efficiently hit a timeline or hit a budget if you don't have open and clear communication with them?
Resources Mentioned:
Website: https://www.revamp365.io/
LinkedIn: https://www.linkedin.com/in/drew-farnese-81324148
YouTube video on The Nail: https://www.youtube.com/watch?v=xSKyejgSKcQ
One of the most important relationships in real estate investing is that with a contractor. And we all know how finding a great investor-contractor relationship is really difficult. While a contractor wants to have a higher budget so they can earn more, an investor wants a lower budget because they're tight on the numbers. That’s where most disputes happen.
In today’s conversation, Rich O’Neill, Founder and CEO of Fleming Project Management, shares his expertise in project management that you don’t want to miss!
Rich is an investor himself. Realizing the challenges that come with managing the renovation of properties led him to create a company for investors. They will represent you on the job, get bids from contractors as well as manage your schedule, budget, and all that stuff to get things done, so investors can focus on the other things important to their business.
Here are some power takeaways from today’s conversation:
- How he got started in real estate
- What it was like managing day-to-day renovation projects
- Having a pricing model that’s not tied to a budget
- The difference between a general permit and a structural permit
- Understanding the return on equity
- Understanding the life cycle of your property
- Things to consider when you’re buying a property built before 1970
- The trap that you don’t want to fall into when it comes to buying rental properties
- The problem with syndications
Episode Highlights:
[15:14] Having a Pricing Model That’s Not Tied to a Budget
Build your pricing model wherein your incentive is not tied to the budget of the project. Instead, tie your incentives to the schedule. This means you're going to do it in a certain amount of time, and when you beat that amount of time, then you make it out, in the margin. If you go over that amount of time, your margin goes down – and the client doesn't pay any more for that. And if you can finish ahead of schedule, then everybody wins.
[32:44] Understanding the Return on Equity
Return on equity doesn't matter in your first 2, 3, or 4 years. But once you’ve built a solid portfolio over the years, understanding your return on equity gives you some context to the potential return on that money. Then you can figure out whether you want to pull it out from a refinance or sell it. In other words, what is the yield that you're getting on what is left?
[48:38] The Trap You Don’t Want to Fall Into When Buying Rental Properties
If you're looking at a property that was built before 1970, and it's clean, don't pay a higher value for it. Because nine times out of 10, you've got to rewire it and replumb it. At that point, you might have to get it gutted as well.
If you don't understand construction, you could walk into a property, and it's clean. It's freshly painted, and the cabinets were just repainted. There might be a half-decent carpet in there. It feels nice, it doesn't smell bad, and you feel comfortable. And so, you decide to spend a lot of money to buy it. Then a contractor comes in and says they have to rewire everything and rip out the brand-new paint. For instance, stove wires are different now than they were in 1950.
Be careful because oftentimes, the dangerous property is the one that looks okay. And you're almost better off getting the one that does not have the clean paint or that has the roof leak, that's just more tired, then you have to do a bigger level renovation.
Resources Mentioned:
Website: https://flemingpm.com
Entrepreneurs’ Organization
Most property owners only think of insurance as something that protects their assets. But there have been so many changes in the insurance space that property owners should be aware of. You could be sued because someone slipped on your property, and lo and behold, you end up paying out of pocket just because you failed to get your property insured or you didn’t get the right coverage.
In today’s conversation, John Bigham of JAB Insurance Brokers talks about the changes in the insurance space, why landlords should care about insurance, the top three things to look for in a policy, and some tips to reduce your premiums and reduce claims.
Here are some power takeaways from today’s conversation:
- Why landlords should care about insurance
- What landlords can do to ensure the right coverage
- Things to look for in a property inspection
- Top three things to look for to ensure a thorough coverage
- A landlord dwelling policy vs. a commercial policy
- Tips to reduce your premiums and deter claims
Episode Highlights:
[02:25] Why Landlords Should Care About Insurance
One big reason why landlords care about insurance is to protect their property, in the event of, for instance, fire or storm.
The other big piece is when somebody slips, falls, or gets injured on their property and they could sue you for it. Unfortunately, this isn’t something a lot of landlords think about, but if it happens, it could change everything in their portfolio.
You might be renting out a property for so much every month, but that could wipe out three months of your cash flow just to pay for the litigation.
[03:25] Changes Happening in the Insurance Industry That Property Owners Should Be Aware Of
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Coverage - A lot of carriers are not insuring rental properties anymore. Therefore, you have to make sure you have the right coverage. A slip-and-fall case would most likely cost you half a million dollars and if you don’t have the right coverage in place, that means having to pay that amount out of pocket.
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Rates - Insurance carriers are raising their rates based on the building because it costs more to replace a house at this moment, especially due to inflation. When looking at the replacement cost or rebuild cost of a building when you purchase it, you may get a good deal on the purchase. But in order to rebuild it, you want to insure it for the full replacement cost of the building, if something happens.
[11:53] The Top Three Things to Look for in an Insurance Policy
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Replacement Cost - It means they will rebuild your house up to the policy limit, without adding in any depreciation. The other form is the actual cash value, which means they will depreciate the claim based on the age of all the different parts of your house.
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Loss of Rent or Loss of Income - Is there a loss of income or loss of rent, if there is a claim, I can't rent it out, and I still have to recoup some of my money?
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Liability - What are the liability limits if somebody gets hurt on my property, and I'm sued? Some people can purchase $100,000, and you want to make sure you have $500,000.
Resources Mentioned:
Website: https://jabins.com
Facebook:www.facebook.com/JABinsurance
Instagram: www.instagram.com/JABinsurance
Learn the art of dealmaking and high-level negotiations. Today’s guest, real estate investor Steve Seymour, shares valuable insights into how you can create win-win deals centered around the seller’s goals.
Steve first got into the real estate world as a realtor. He then immersed himself into the investing world by meeting other investors and seeing how they were creating wealth and living their lives the way they wanted to live them, on their terms. At that point, he found his calling in real estate investing.
Today, Steve Seymour is the CEO/owner of Vanguard Realty Alliance, an umbrella company for his brokerage and mortgage companies. With 75 agents, they sold about $225 million worth of real estate the previous year.
Here are some power takeaways from today’s conversation:
- Steve's transition from real estate sales to being an investor
- Get rich slow with proven strategies
- How to get out of the rut
- Negotiating at a higher level
- Using tax credits to build a real estate business
- Practices to stay calm and centered
- What their management structure looks like
Episode Highlights:
[13:48] Stacking Strategies in Creating Deals
According to Peter Fortunato, the guru of creative deals and creative finance, the sky's the limit. This means anything's possible in terms of real estate negotiation. Think about trading boats, your kid’s college tuition on a deal, or taking over other debts that might not even be related to real estate. Think about different things that you would never have considered being in the deal , and focus on the seller's goals.
Be open to the idea that A plus B doesn't always equal C. There could be other equations that are going to get you, not only the answer you wanted, but something far greater. Steve refers to this as “stacking strategies”, where you take one element of a creative finance deal, then you start stacking different strategies on top of it to make it more beneficial for everyone involved.
[15:19] Mastering High-Level Negotiations
To be able to negotiate at a higher level, you have to understand someone's needs, their wants and needs, and their pain points. If you can solve a problem for them, you're going to get paid. However, most people stop at the first problem they’ve solved, not realizing there are other pain points that need to be solved.
And so, try to dig deeper into their pain points until you’re able to structure a deal that will alleviate all those things. Patience is key. A lot of people give up as soon as they hear “no”, and they don't continue. Sometimes, you have to be persistent in exploring the real issue until you find a way to make things work.
Resources Mentioned:
Website: https://www.vralliance.com/
Investing in a property or business requires an investment of your time, money, and effort. And so, how do those three come into play? In this episode, real estate investor and entrepreneur, Brian Beers, shares FOUR things that you need to be looking at when analyzing your investments.
Now, when it comes to the realm of property management, Brian believes you’ve got to have control over it at the end of the day – and setting expectations is key. Otherwise, you get what you tolerate.
Brian owns automotive repair franchises spanning 24 locations throughout Philadelphia and New Jersey. His philosophy is to have a primary business that generates cash flow and to leverage the power of compounding by redeploying the returns back to his capital.
Brian is on a mission to teach other entrepreneurs how to buy other businesses using owner financing as well as create passive income through investments.
Here are some power takeaways from today’s conversation:
- Brian’s real estate background
- A primary business that generates cash flow
- The power of compounding
- Four things to look at when analyzing investments
- Choosing partners that align with your core values
- Tips for hiring people
- The value of setting expectations with your property managers
Episode Highlights:
[04:56] The Power of Compounding
Having a primary income that generates cash flow is just one aspect of wealth creation. Once you have that, think of ways that you can compound the money. Either redeploy the money back to your capital so you can grow the business faster. Real estate is another great place for investing because there’s good cash flow, appreciation, debt paydown, and tax benefits.
Whatever avenue you wish to take, it’s all about putting the money back into the machine because that's how you grow really fast. It's not necessarily saving your way to wealth, but using the power of money to your advantage.
[10:05] Four Things to Consider When Analyzing an Investment
There are four things you should be looking at when analyzing any investment no matter what it is:
*Return - Look at the return on capital based on various metrics (ex. cash on cash)
*Risk - Look at the potential of losing capital. When you're working with a syndicator, look at the experience and portfolio of the team.
*Time - Look at how much of the investment's success is based on your personal involvement. Find things that are uncorrelated to the time you put into them, and syndications are great avenues.
*Turn - Look at how long the money is locked up for. Sometimes, the deals that lock up your money longest can be really good ones. But you don't want to lock all your money up in 10-year deals, otherwise, you're not going to have the cash to take advantage of new things. And so, a mixture of long-term and short-term deals is good.
[36:29] How to Manage Your Property Manager
Even if it looks great on the spreadsheet, the reality is way different. And so, to scale and keep stress at a minimum, you have to learn how to manage your own people. Remember, you get what you tolerate. If you tolerate poor communication and a unit to take three months before it gets turned, then that's what you will get.
You have to set expectations. You can’t get frustrated if you don’t hear anything because you didn’t even ask in the first place. Therefore, learn how to voice out your concerns and be clear about what you’re willing to tolerate.
Resources Mentioned:
www.rentwell.com/vision
https://www.brianbeers.com/
Having a property manager to handle your properties doesn’t mean your work stops there. Passive income doesn’t mean just waiting for a check because there is no such thing as mailbox money. Even though they're handling the day-to-day operations, you still want to be on top of it.
Today’s guest, real estate investor, Ken Naim, shares some things you should know about before hiring a property manager. Even if you're hiring other people to do it, you have to manage them – and manage them well – to make sure everyone working for you is on the same page.
Here are some power takeaways from today’s conversation:
- Ken’s career transition from pharmacy to IT
- His intro to real estate
- Tips for transitioning into commercial asset classes
- Ken’s real estate portfolio and preferences
- Find out about value-add properties
- How to manage your property manager
Episode Highlights:
[04:10] Tips for Transitioning into Commercial Properties
Ken recommends only dealing with rockstar brokers because you want the best in the business. They're the ones that are going to get all the leads and get all the off-market properties. And if you find brokers where your gut feeling is telling you to run away, then that's what you should probably do.
Once you’ve found the right people, you’ve got to tell them what you want. Break down what your criteria are so they will understand what you’re looking for. The more specific you are, the better it is. Once you close a deal with them, then you become their first call because they know you can close.
[10:41] What are Value Add Properties?
Value add properties refer to commercial properties that are not fiscally or physically attractive, but once improved, then increase in value. Commercial buildings are great from this aspect. You won’t have to wait for the market to appreciate because you can create that appreciation yourself.
[16:27] How to Manage Your Property Manager
Being involved early on in the management of your property gives you a better understanding of how much things cost. You start to understand what property managers can do to a property and how to protect yourself. It helps you set up the property the right way so you have the least expenses going forward and you don't have to redo the same thing over and over.
Once you’ve found a rockstar property manager, pay them what they want, give them what they need, send them referrals, send them business. Show your appreciation, and make sure that they understand that you're you're serious, and you want to build the relationship with them
Resources Mentioned:
Email: ken@beaconoffices.com
Everybody's looking for good deals – and there's money on the sidelines. You just have to know where to find them. One of the best deals you can find are those that are off market. But how do you find them?
In today’s conversation, real estate investor Dan Austin shares valuable insights into buying off-market properties and looking at renovation through the lens of capital expense.
After leaving the military in 2012, Dan pursued a degree in electrical engineering and it wasn’t long before he found his passion for real estate. He began BRRRRing ((Buy,Rehab, Rent,Refinance, Repeat) and the moment he began cash flowing $1,000 a month, he got hooked with it immediately.
Since 2020, Dan and his partner have owned over 40 doors, between single-family and multi-family, and have expanded their operations in other states. Together with his partner, Dan hosts the Collecting Keys Podcast, where they give listeners an inside look at what they do in their business day in and day out.
Here are some power takeaways from today’s conversation:
- From the military to the real estate world
- The shift to off-market deals
- Short-term vs. long-term deals
- Using their systems and processes to expand to 50 other markets
- Looking through the lens of capital expense
- The two elements in finding off-market deals
Episode Highlights:
[20:23] Short-Term vs. Long Term Deals
Figure out how you can reduce the risk around short-term investments such as when you’re flipping. Instead of trying to take money off the table now, look into how you can protect those dollars through an asset, knowing that there's a good chance that inflation or appreciation is going to kick in.
[22:30] Looking Through the Lens of Capital Expense
Look at things through the lens of what the property is going to look like in five years. You don’t want to own a property and come back to it in five years seeing all the work that needs to be done. Maybe you need to replace the furnace or the electrical system, or you’ve got to do the roof.
Instead, if you’re going within 6-12 months – whatever the criteria for that property is – spend the money now and make it very structurally sound. Do a robust rehab now and that's going to save you down the road.
[20:19] Where and How to Find Off-Market Deals
To be successful, you have to figure out the marketing piece, specifically, how you're targeting motivated people . Find people with any sort of distress that could really use help.
The other piece is the sales piece. You can find many great deals. But if you don't have a good sales team that understands people and knows how to ask the right questions, you're never going to close those deals. Because it's not a real estate investment company, it's a people company.
Resources Mentioned:
Instagram: www.instagram.com/investormandan
Podcast: https://collectingkeyspodcast.com
Ready to invest? If you’re wondering which is better – limited partnership or general partnership – perhaps the best way to answer that depends on which actually suits your goal, lifestyle, personality, or preference. But why not do both?
In this episode, Bernard Pierson, managing partner at a multifamily real estate firm, Equiti Partners, walks us through what it’s like to be a limited partner vs. a general partner.
Born into a family of immigrants from Nicaragua, Bernard is not new to limited partnership and general partnership having experience in both. He has invested in 30 LP transactions across all different asset types of real estate, including mobile home parks, self-storage, industrial, office, and mostly, multifamily. He also transitioned into the more active side of multifamily and has been involved in general partnerships of about 600 units.
Here are some power takeaways from today’s conversation:
- A walk-through limited partnership vs. general partnership
- Working with in-house property management
- Examples of key performance indicators they’re looking at
- Viability of a buy-and-hold forever strategy
- Ways to get your investors to do a “hold forever”
- Finding the right financing option for you
Episode Highlights:
[09:36] Limited Partnership vs. General Partnership
Bernard started with doing limited partnerships through meetings and networking with different sponsors and operators. Most of them were referrals, and some of them were even referred by operators because Bernard wanted diversification in terms of geography and asset type.
Every time he gets a return – say, in two years' time –Bernard would then reinvest it. Sometimes, there are instances where the sponsor chooses to refinance.
On the GP side of things, they buy anywhere from 30 units to 150 units. Although they try to stay above 100 units, they found that buildings under 100 units have less competition. So they have found an opportunity in it even though it warrants a little bit more work on their part.
Some of the key performance indicators they're looking at include occupancy, the number of leads, renewal rates, and budget.
[21:14] Does a Buy-and-Hold Forever Strategy Work?
A long hold period is a great strategy because it becomes a lot easier to manage the risks such as changes in the interest rate or the economy. It's hard to get 10 investors into a “hold forever” strategy or “hold for 20 years” strategy. It’s possible, but it’s going to be very hard.
There are a number of ways to get a number of investors to such a long-term decision, specifically focusing on the return on equity.
[26:00] Why Real Estate Investing is Not 100% Passive
Real estate can be passive, but usually, it’s not really 100% passive. Most people that get into real estate start off fixing and flipping. Then they figure out very quickly that it’s far from passive. Some people also end up doing syndication and soon find out that it's far from passive. That being said, there are ways to do it passively, especially if you're doing a limited partnership.
Resources Mentioned:
Equiti Partners
Ready to invest in a rental property? Whether you’re looking to invest individually or you’re looking for a partner to invest with, the key to a successful real estate portfolio is to do things long-term. House hacking might still be the best strategy for beginners dipping their feet into the world of real estate. But what should you do when you want to scale from 1 to 100?
Joining this conversation today is real estate investor Gary Jonas. Gary is a visionary and partner at The HOW Group, the one-stop shop for everything real estate, serving Philadelphia and its surrounding regions. Gary is here to provide his golden insights into getting started with real estate investing, the recipe for a successful partnership, and some things to consider when you’re thinking about scaling your investments.
Here are some power takeaways from today’s conversation:
- Gary’s real estate beginnings: house hacking
- What it takes to develop a long-term real estate portfolio
- Getting started with real estate investing
- What makes a successful partnership
- The right mindset for scaling
- How to keep yourself grounded
- Seeking out mentors
- Dealing with a more sophisticated investor vs. a less sophisticated investor
Episode Highlights:
[05:05] What It Takes to Develop a Long-Term Real Estate Portfolio
If you're planning to grow your real estate with a two-year plan or a three-year plan, I have no advice for you, I can't really help you. If you've got a 15-year plan, I can help you, because that's what I think it takes to really develop a successful long-term real estate portfolio.
[05:25] How to Get Started with Real Estate Investing
House hacking could still be the best strategy for a young person getting started with real estate investing. First, buy a multifamily property with up to four units. That way, you can still get an FHA loan and put 3% down on a four-unit property. You can live in one of the units and then rent the other three out. Generally, that's going to let you live for as close to free as possible.
Then you move out of the house and rent it out so you can move to a bigger house. Buy a second property. Have a couple of people move in with you, and you do that process again. Now, you own two properties with some decent equity. You do some things over a couple of years and create some equity. So now, that creates options for you.
[11:38] What It Takes to Have a Successful Partnership
You can't keep score. In every partnership, there’s always going to be somebody who has to do a little more than the other. And even if you’re putting the same effort as the other person, either of you could still be outperforming. Now, everything in the partnership is about keeping score. And when that happens, eventually, you're going to disagree on who's providing what value. Now you have a problem. Instead, change your metric to EFFORT, which is what you should really care about.
Resources Mentioned:
www.howgroup.com
One of the biggest things when it comes to property management is how to optimize utility consumption. Unfortunately, a lot of old buildings lack efficiency in terms of insulation, windows, mechanical systems, and plumbing systems because people weren’t really thinking about utilities and energy consumption 25 years ago, much less for 100-year-old buildings.
No matter how old your property is, the good news is you can hire the right partner that offers innovative energy solutions. Make utility efficiency a top priority, so make sure you don’t skimp out!
In today’s conversation, Jerry Armstrong of Thuesen Energy shares some ways to optimize your utilities, drive up the net operating income of your properties, and provide more value to your residents in terms of saving money on electricity and other utilities.
Jerry has been in the energy space for several years now. Aside from its robust metering technology, Thuesen Energy also has a system for billing. He helps owners, especially during the due diligence phase when they’re looking at buying apartment buildings.
Here are some power takeaways from today’s conversation:
- What to think about when managing properties
- A percentage of revenue for utilities
- Driving efficiency by building on relationships
- Knowing what’s in the market and what you can apply
- Reducing energy costs and consumption
- What is a reverse chiller system?
- Understanding the submetering plan and the utility optimization plan
Episode Highlights:
[02:30] Getting Started with Energy Efficiency
In terms of energy and utilities, the rates are just going through the roof and you have new laws to abide by. As an owner-developer, the first thing you want to do is find a good partner that can guide you in the right direction. You don't want to get into a situation where, after you acquire an asset, or after you're operating something, it's beyond the reactive. And so, you want to be on the proactive approach.
Next, look at the T12, which stands for the trailing 12 months, that looks at the property's performance over the past year. Check the spending on the utilities, and then develop a strategic plan where you’re making the utilities more of a profit center.
[09:52] How Thuesen Energy Can Help Building Owners
Thuesen Energy specializes in taking a holistic approach, looking at it in an entire system of solutions, and making sure each piece of the puzzle will work together in longevity.
With them as a partner in the background, they’re able to provide oversight onto the system, make sure it's performing the way it is, handle the individual charges going to the residence, and identify anomalies that may happen. It’s all about fully understanding that picture, but also having that partner to guide you along the way.
[20:05] Reducing Energy Costs and Consumption
For single-family, look at the building envelope. Find yourself an inspector that does a blower door test. Next, take a look at the electrical fixtures. Do you have LED lights or do you have the old filament-style light bulbs and light fixtures? Then, look at the plumbing features. Toilets nowadays use 1.28 gallons per flush. So make sure you’re not using toilets that are still 3.5 gallons per flush. 40% of your overall water consumed in a residential space is at the toilet, and over 75% of water waste happens through the toilet.
Resources Mentioned:
https://thuesenenergy.com
If you still haven’t dipped your toes into the world of syndication, then this episode is just for you! Today, Timothy Kelly of Active Duty Passive Income talks about his journey from the military to multifamily.
After spending over 15 years in the U.S. Navy, Tim wanted more control of his own wealth and financial future. After some thorough self-education through books and podcasts, as well as investing in mentorship and coaching, Tim saw a pattern in real estate investing that has made a lot of millionaires – and the good thing about it is anybody can do it.
Fast-forward to today, Tim runs an impressive real estate portfolio, doing syndications for multifamily properties with a focus on apartment communities, mobile home communities, and storage facilities.
Here are some power takeaways from today’s conversation:
- Using fear as a driver to success
- What is syndication?
- General partners vs. limited partners: capital, ownership, hold periods
- How to hedge against inflation
- The power of mindset and gratitude
Episode Highlights:
[16:33] What is Syndication?
Syndication is one of the ways that you can acquire large commercial real estate, whether it’s a huge apartment building, a mobile home community, storage facility, mall, or office building. It’s all about creating a structure between general partners and limited partners.
General partners are investors who basically do all the work. They find the deal, structure it, and put their own money in or raise capital for the deal. They conduct all the due diligence, and while it's under contract, they manage the asset.
Limited partners are the people with the money. They’re the capital investors. On the other hand, general partners don't have to have all the money needed to buy a multimillion-dollar deal.
[18:36] How Much Do You Need to Invest?
Generally, the general partners will put in some of their own money, especially risk capital. In order to get the deal under contract, they have to put an earnest money deposit down, which is usually 1% of the total purchase price. Limited partners do nothing except give the rest of the money for the down payment.
One of the main reasons syndication is so attractive is that as a general partner, you can actually get in for little to no money and be an owner of a massive commercial real estate property. You’re basically leveraging other people's money, not only the limited partners’ but also the bank's money. You become an owner of a big asset just because you spent some time.
[24:49] How to Hedge Against Inflation
Two of the most recession-resistant asset classes are apartment communities and mobile home communities. No matter what’s going on in the world, there’s always going to be a demand for affordable, functional, clean, safe housing. And if you could provide that, especially in the long term, it’s going to be a success.
Another way to hedge against inflation is diversifying in different asset classes and in different markets. Diversify different categories, not only in different asset classes of commercial real estate (ex. apartment complex, mobile home community, storage facility, RV parks) but also in different markets (ex. southeast, midwest, etc.)
Resources Mentioned:
Active Duty Passive Income
Book: What Got You Here Won't Get You There by Marshall Goldsmith
Instagram: @thetimothykelly
LinkedIn: @thetimothykelly
April Crossley had her son at 16 years old so she had to do what she had to do as a full-time mom, a full-time student, and a part-time employee. Relying on food stamps to pay for groceries, she learned how to become resilient at an early age and work her way out of poverty.
In 2004, she bought her first property and got so obsessed with real estate that she dropped out of her master's program so she could afford to pay for a real estate course. By 2006, she bought a six-unit property and then kept flipping houses and buying rental properties all the way up until 2013.
Currently, April is in learning mode in terms of making affordable-housing projects work as a business, especially at this time of this huge affordable-housing crisis. Specifically, she hopes to help solve the affordable-housing problem within the senior space, a segment of the population that she holds near and dear.
Here are some power takeaways from today’s conversation:
- Where April got her funding in flipping the six-unit property
- Her interest in the affordable housing space
- The concept of co-living
- Real estate investing in Tennessee vs. Pennsylvania
- Finding your purpose
- Developing affordable houses for seniors
- How to keep rent affordable
Episode Highlights:
[09:01] Looking for Funding
Everybody's about finding deals and the money will come in because there is more money in the market than ever before right now. There are private money lenders everywhere looking to place money, but you have to make an effort and intention to connect with private money lenders. Hence, you have to be looking for deals and money simultaneously, which happens through networking or joint venturing with other investors.
[15:14] Affordable Housing for Seniors
We all know about senior residential assisted living and senior luxury apartments, but nobody actually talks about seniors having access to affordable housing. These folks want to live in a community where they still have contact with other people and friends, and not be lonely and isolated.
April believes in a world where you can provide affordable housing without having to provide the healthcare aspect, which can be done by a third party.
[34:29] How to Keep Rent Affordable
Keeping the rent affordable can be pretty difficult when you’ve got high renovation costs. April recommends looking to grants and tax credits. Also, consider doing a mix of affordable housing and high-end housing in one complex.
Resources Mentioned:
Facebook: www.facebook.com/groups/rvrei
*Book mentions:
The One Minute Millionaire
21-year-old Nathan Krauthamer got kicked off campus. He had no choice but to rent off-campus, but he later figured out a better way – house hacking. He bought his first house which he rented out to three other roommates.
21 years later, Nathan is taking down warehouses and converting them into new spaces. His current project is a 50-unit warehouse in Philadelphia that will soon become 50 creative office studio spaces. And it's 75% done!
In today’s discussion, Nathan talks about his process for finding and closing deals, the power of mastermind groups, and the best way to handle naysayers.
Here are some power takeaways from today’s conversation:
- An overview of Nathan’s real estate investment portfolio
- Leveraging the power of networking
- Ways to find deals
- Due diligence period for development projects
- A look into Philadelphia’s real estate development landscape
- How to deal with the naysayers
- How to work through tough times
Episode Highlights:
[09:39] Ways to Find Deals
There are different ways to find deals, you’ve just got to find the ones that work best for you based on timing. For instance, Nathan used to get a lot of deals from auctions, but the values have since gone up in the last year or two. Instead, direct-to-seller deals are doing well right now. Nathan recommends finding distressed properties.
[11:12] Due Diligence Period
Before starting on a development project, Nathan looks at the numbers first, figuring out the construction cost, the estimated rental cost, and the potential market. In other words, you have to think like an appraiser.
He also observes a due diligence period because you could miss so many things including environmental problems. If you get into a big environmental issue, there’s a slim chance you could get any bank financing; so new investors have to be careful with this. Hence, it’s smart to get to Phase 1 first before making any deposit.
[18:19] How to Deal with the Naysayers
There are people who are going to tell you not to do it, but sometimes you just need to follow your heart or your gut instinct and go with what you believe in. A lot of people try to talk you out of it because they just don't know.
The people who are telling you not to do something usually don’t have the ability to even help you with doing it anyway. Therefore, don't let somebody tell you “no” if they don’t have the power to tell you “yes.”
That being said, one of the biggest problems new investors have is recognizing a good rental property or a good deal. And so, they need someone that's able to guide them. This is also why being a part of a mastermind group is very useful.
[23:19] How to Work Through Tough Times in Real Estate
In real estate, there are lots of ups and downs. It’s a huge roller coaster where everybody's going to have some ups, which are the easy parts. But when things are down, find a way to push through when other people would have otherwise given up. Everybody's going to have those lows. It’s just a matter of what are you going to do once you’re there.
Resources Mentioned:
Email: nathan@ahomerentals.com
Text/Call: 301-254-9856
*Software and tools used:
QuickBooks
Folio
Finding a town to invest in can be tricky. Would you rather buy cash flow in places that won't ever appreciate? Why not buy one that does both where you can have your cake and eat it too?
Being in the real estate investment space for 22 years now, Anil Dham shares some gold nuggets of insights when it comes to investing in a town. Find out the things you need to be looking for before you even make a deal.
Anil Dham is also the Council President in the Royersford Borough, a small suburb with 4,800 residents. He ran for office in 2013 with the hope of reviving a once dilapidated town. Eight years later, Anil has helped facilitate the transformation of Royersford, attracting more investors, improving their housing stock, and cultivating relationships.
Here are some power takeaways from today’s conversation:
- What a borough looks like
- Why Anil decided to run for office
- What drives value in boroughs
- Some reasons people don’t want to invest in Philadelphia
- How to find a municipality that is easy to work with
- What to look for when investing in a municipality
- What to look for in a development project
- What Anil’s property management setup looks like
Episode Highlights:
[19:20] How to Find a Municipality That’s Easy to Work With
*Call the municipality and see how they answer the phone. If they're not answering the phone or returning calls, you already know what you're going to expect.
*Call the code enforcement officer and just have a conversation. If they're brushing you off, you're probably not dealing with a place that's going to be worth it.
*Go to a meeting and ask a question. Tell them you're looking to buy in their town and see how they feel about investors.
[23:22] What to Look For When Investing in a Municipality
*One of the first things to look at in boroughs is the school district because it's what drives value. People buy the school district, and they do not necessarily buy the town first. If your school district is in the top 15 in the state, you're probably in a good place to invest.
*Look at housing trends. Look if house values went up or doubled the increase of the county average. Count the appreciation.
[28:48] What to Look For in a Development Project
*Short-term rental (the highest price per night)
*Co-living (ex. renting by the bedroom, weekly membership, monthly membership)
*Subsidized affordable housing (ex. two-year lease)
*Retail client
Investors typically have a reputation for being cheap or doing cheap work. Just spend the extra money, and it'll pay itself off really well. Don’t cut corners because it’s so much easier to do it right the first time.
Resources Mentioned:
LinkedIn: https://www.linkedin.com/in/anildham/
*Software and tools used:
PayRent
QuickBooks
*Recommended groups:
Diversified Investors Group (DIG)
National Real Estate Investors Association
There is a famous quote that says you make your money when you buy real estate, and that's true, for the most part. But you can't keep that money and grow it, unless you have exceptional property management skills.
Living Well with Rentwell is for anybody who owns real estate and wants to learn how to manage their properties or manage their property manager.
Each week Rob and TJ share their insight and talk to investors to learn how they vet potential deals, evaluate potential new communities, and put into action the steps necessary to buy these new properties and multi-family communities!