Just Start Real Estate with Mike Simmons

For this episode, I welcome David Hill, a leading expert on telephone prospecting, bestselling author, and popular podcast host of the Path to Mastery Podcast. Over the past twenty-eight years, he has worked as a salesperson in numerous industries and depended primarily on the phone to make sales. He was previously a team leader at Keller Williams Greater Hartford and is now at eXp Realty.

 

David first shares his background story from a call-center caller when he was seventeen years old to building a career as an excellent salesperson. A funny turn of events is that David’s career in real estate was largely influenced by his then 10-year-old daughter… I hope you listen to the episode to hear all about it!

 

We discuss the lessons of resiliency and dealing with rejection that David learned during his journey making sales calls. David explains call reluctance as the ‘little voice’ that stops you from taking that leap and the many forms it shows up in.

 

David explains why you need to be proactive in sales to be good at it and effective salespeople condition themselves to be this way. He perfectly describes the type of character that he believes will struggle in sales and points out that you need more than a great personality to be successful. David made a lot of mistakes and had many failures but his willingness to continue making things right is what has defined his success. He has mastered how to be the right leader even as he looks for the right people to hire.

 

We eventually dive into the topic of David’s bestselling book, The Sales Playbook. He wrote the book to give people eleven strategies to become great at sales. ‘The hidden goldmine in your pocket’ is a phrase David uses to describe a phone and your contacts and all the connections you can make with them. The text message form of communication can be interpreted differently and hence ineffective as compared to face-to-face calls or voice calls.

 

We move on to discussing real estate and why David prefers wholesaling which isn’t necessarily a favorite of most real estate investors. He explains most of the strategies that make him believe that there’s a lot of potential in wholesaling.

 

David describes his experience hosting his podcast, the Path to Mastery, and bringing Gary Vee plus other prominent people on his show. One of his popular pieces of advice is for people to stop rushing in life and instead slow down and be present. David asks for my feedback on his podcast which I willingly give based on the episodes I’ve listened to. We also talk about the art of podcasting and what it takes to put high-quality audio out there. Don’t miss this episode of Just Start Real Estate with the very smart and engaging, David Hill!







Notable Quotes:

 

“In sales, don’t take things personally.”

  • David Hill

 

“If you’re going to be good at sales, you’re going to have to be proactive in some capacity.”

  • David Hill

 

“If you’re the type of person that can’t get beyond your own ego, beyond not looking good or being right all the time, I think you’re going to struggle in sales.”

  • David Hill

 

“The difference between adequate, okay, and really good is tremendous.”

  • Mike Simmons

 

“There’s a lot of difference in the revenue when you have a really good salesperson.”

  • Mike Simmons

 

“I think it’s finding the right people but then also being the right leader.”

  • David Hill

 

“A lot of people hide behind texts.”

  • David Hill

 

“You have to know what phase, what cycle of the market you’re in, and adjust to it.”

  • Mike Simmons

 

“You change based on what the conditions are.”

  • Mike Simmons








Links:

David’s Website

The Sales Playbook by David Hill

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Direct download: Sales_Mastery_with_David_Hill.mp3
Category:general -- posted at: 3:30am EDT

For this episode, I welcome Reed Goossens, who is a real estate investor, best-selling author, entrepreneur, and host of the popular podcast, Investing in the US. In 2012, Reed quit his job in Australia and moved halfway across the globe to the United States to change his life and chase a dream. With limited funds, no investing experience, and no credit, Reed went from purchasing a small duplex to growing his own real estate investment firm, Wildhorn Capital.

 

Reed first shares his background story from living all across Europe as both a structural engineering expert and a tourist to later moving to New York and falling in love with it to never want to leave. He once worked as a deckhand in a luxury yacht in Europe where he got to experience a glimpse into the crazy world of the ‘filthy rich’.

 

We move on to discussing how Reed got into real estate intending to escape the corporate world and embark on backpacking travel adventures. Reed explains how reading Rich Dad Poor Dad changed his perspective on entrepreneurship and developed his interest in real estate. He continued educating himself on real estate and within a month of living in New York, he attended the first Real Estate Investor Association (REIA) meeting.

 

Reed describes the Australian real estate market as a high appreciation market where you don’t buy for cash flowing investments. Reed explains how he bought his first property at $30,000 which set up his path to many other deals. Reed had the clear goal of cash flow and started by buying a small duplex but ended up flipping it before getting into the scale side of it as a way to produce passive income.

 

We discuss how Reed moved from buying duplexes and triplexes into buying larger apartments. A friend of Reed challenged him to get a mentor and fundraise for capital, which he did. He did this by beginning to build a personal brand and he found that he began to face the challenge of imposter syndrome. He overcame this by creating a podcast that served as a foundation to educate people, and in turn, this built up his confidence. Reed also shares how he build a brand around his own story and transparency, vulnerability, being down-to-earth, and approachable, which ultimately helped him get to deals and grow his business.

 

We discuss the importance of building a personal brand that’s not about striving to get millions of following but being a key person of interest to grow your real estate business. Reed explains in detail how his brand story and podcast helped him meet people, gain trust, establish credibility in the industry, and be able to grow his real estate business to where it is now.

 

We eventually jump into the topic of syndication, which is the act of pulling people’s money together and buying a large deal that one individual couldn’t buy on their own. Reed explains syndication with an analogy I believe is the best I’ve ever heard. He then goes ahead to explain how he started syndicating deals with his mentor but broke out on his own in 2016. He is now doing exclusively apartments in San Antonio and Austin, Texas. Reed explains how they keep it lean when it comes to scaling up, plus how they have mastered the art of doing what they say they’re going to do. Reed shares how he handles being a remote investor and the challenges he faces.

 

Lastly, we talk about the possible future of the real estate industry. He describes multifamily as a golden child of commercial assets right now in growing cities. It is important to understand the keys in your industry to perform even during a crisis or an election year. Don’t miss this episode of Just Start Real Estate that is filled with gold nuggets from super-successful entrepreneur, Reed Goossens!







 Notable Quotes:

 

“Anytime anybody has an abundance of anything, it’s hard to appreciate it.”

  • Mike Simmons

 

“Australia is a high appreciation market- high demand, low supply.”

  • Reed Goossens

 

“I’m not going to get to deal #10 without doing that first deal.”

  • Reed Goossens

 

“You have to get really clear on what your goals are and for me it was cash flow.”

  • Reed Goossens

 

“Self-education is great, but you come to a point where you need a coach in your corner.”

  • Reed Goossens

 

“People want to know your story - that’s what’s really important and then they invest in you. The deals are actually secondary.”

  • Reed Goossens

 

“Looking back, if I didn’t do the podcast or the branding stuff, I’m sure I wouldn’t be in the place I am today.”

  • Reed Goossens

 

“Underwriting is determining the value of what you should buy it for and understanding the numbers of the deal.”

  • Mike Simmons

 

“Scaling sometimes is where people fall apart because they either go too fast and are reckless, or they hire the wrong people.”

  • Mike Simmons

 

“Being able to perform, close on a deal, and do what you say you’re going to do is super valuable.”

  • Reed Goossens

 

“You can do this business from the moon if you want to.”

  • Reed Goossens

 

“Multifamily is the golden child right now compared to other commercial asset classes.”

  • Reed Goossens

 

“There are opportunities in every market. It’s just knowing where you are in that cycle is really the key.”

  • Mike Simmons 








Links:

Rich Dad Poor Dad

Key Person of Influence

Reed's Website

Reed's LinkedIn

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months


For this episode, I welcome Victor Menasce, the author of Magnetic Capital and the host of the daily Real Estate Espresso Podcast. He specializes in the development of new construction multi-family apartments, assisted living, industrial, and workforce housing in several markets across North America. Before moving into real estate development, Victor held roles as Vice President of Engineering at Wavesat, a developer of chips for wireless networks, and Chief Technical Officer at Applied Micro Circuits Corporation (AMCC), a Silicon Valley-based public company that develops microprocessors for numerous consumer products including televisions and gaming. Victor lives in Ottawa, Canada with his family.

 

Victor first shares his background story as a microprocessor developer which eventually got tedious and he had to retire. He made a hard turn into the real estate world and is now doing almost all new construction development. We move on to talk about his shift from the tech industry to real estate. There’s no one single dominant player in real estate anywhere in the world and people will invest at a level they wouldn’t in the tech industry. Victor explains how real estate doesn’t require much for people to start investing as compared to tech businesses that require deep pockets to get people to invest.

 

Together we dive into the real estate business approach that Victor took when he joined the industry. He saw a need in his city of Ottawa and strategized a way to serve a targeted market. He started by buying one-bedroom condos within a four-block radius of parliament and marketed them as fully furnished executive suites. He later sold that portfolio to focus on the US market when he saw an opportunity presented by the financial crisis in 2008.

 

We talk about the distress in commercial real estate following the pandemic, which included hotels. Victor explains how wealth is going to be transferred and some good assets will come into the market within a short period. Businesses are especially vulnerable now due to their outstanding debts.

 

We talk about the concept of new builds with Victor explaining his beliefs concerning demand and supply. Victor explains how he and his team learn from their developments in the US on the ‘good side of the line’ and the ‘bad side of the line’ as is defined by various zoning codes.

 

We move on to the power of developing relationships with the best people in the world. Victor explains how he opened his eyes to opportunities after becoming aware of what is possible. He then talks about his book Magnetic Capital which is about the five principles to help you raise capital for any venture. There’s a difference between asking for money and offering an investor an opportunity to collaborate on a project. Victor gives us the reason why he offers compelling and interesting projects that serve a need in the marketplace to potential investors rather than directly asking them for money.

 

We discuss what Victor means when he talks about ‘good charitable cause, bad foundation.’ He believes that raising money for a charitable cause is no different from raising money for investment. The foundation of a worthy cause should be set to have an outcome just like an investment does and it is important to look for these qualities when you are looking to invest in one. 

 

Lastly, we discuss how to invest like a billionaire by looking for and investing in safe deals. Don’t miss this powerful episode of Just Start Real Estate with tons of applicable tips and advice from uber-successful entrepreneur, Victor Menasce!






Notable Quotes:

 

“Every single project is a little different, even the ones you design in architecture to look identical to the next.”

  • Victor Menasce

 

“People will invest with you. They will give you capital on a level that they wouldn’t in the tech industry.”

  • Victor Menasce

 

“You need to be challenged and pushed out of that comfort zone.”

  •  Mike Simmons

 

“Even today, I’m not a real estate guy per se…I really took a business approach.”

  • Victor Menasce

 

“Whenever you have a business model that’s based on the assumption that you’re going to be able to feed the debt based on the revenue, and the assumption is the revenue is going to stay uniform to service that debt, you have some level of vulnerability.”

  •  Victor Menasce

 

“It really comes down to developing relationships with the very best people in the world.”

  • Victor Menasce

 

“Just becoming aware of what’s possible opened my eyes to seeing those opportunities.”

  • Victor Menasce

 

“When I saw a void in the marketplace, I just wanted to address that, so that is why I wrote my book.”

  • Victor Menasce

 

“When trust is there, decisions happen faster.”

  • Victor Menasce

 

“If the goals for the money and the goals for the project don’t match, don’t take the money, because it’s not going to work.”

  • Victor Menasce

 

“More sophisticated investors are very clear on what they’re looking for.”

  • Victor Menasce

 

“You cannot go into a situation where you’re raising funds and appear to need that person more than they need you.”

  • Mike Simmons

 

“Raise funds, don’t ask for money.”

  •  Mike Simmons

 

“Raising money for a charitable cause is no different than raising money for an investment.”

  • Victor Menasce

 

“If you want to be a billionaire do what billionaires do. If you want to be broke do what broke people do.”

  • Victor Menasce

 






Links: 

Rich Dad Poor Dad

Magnetic Capital: Raise All the Money for Any Worthy Venture by Victor J. Menasce

Victor's Website

Real Estate Espresso Podcast

Victor's LinkedIn

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months




In this episode, I am happy to interview Max Keller, who is a real estate investor, bestselling author, podcaster, speaker, and an expert panelist on the topic of lead generation and marketing. In just a few short years, Max went from being a full-time high school math teacher to flipping over 100 houses. His unique marketing approach landed him onstage with Robert Kiyosaki as he was presented with the 2019 Industry Innovator of the Year Award. He is passionate about sharing his strategies to transform ordinary investors into trusted experts in the eyes of motivated sellers and private lenders.

 

Max first shares his background story as a math teacher who wanted to find a way to earn more when he stumbled on real estate. He didn’t originally plan to leave his teaching job but saw a good opportunity that he liked and decided to go full force. We discussed when Max knew it was the right time to quit his teaching job at only deal number two. The market cycle was lower at this time which made it easier to scoop up a property. Max explains the tactics he used to make real estate investing work for him, like selling his house to fund the business with the support of his wife. Flipping 100 houses in two years needed a lot of funding which Max explains progressed from personal money to private money.

 

Max dives into his current marketing strategy which originated from a perceived lack of standing out from his competition. He shares how he created a three-criteria list of what he wanted: deals of great profit, sellers who were not resisting his offers, and to have fun doing it. Max shares how authenticity and being genuine get him more business through trusted referrals.

 

We discuss why Max made the transition from ‘junk mail to coffee table’ which was about finding a more scalable way to build trust. Max laughed off the idea of writing a book when he first heard it, but after contemplating it, he decided to put all his knowledge on senior housing on paper and wrote his first book, Home to Home: The Step by Step Senior Housing Guide. The book opened up other things like instant credibility and trust and now he is known as the senior housing expert.

 

We move on to how Max saw the need to become an objective foundational source of information for the senior living space. Max’s book teaches people the pro and cons of selling their homes, how to stay in their homes, home rehabbing, and much more. He also has materials to empower and educate adult children and grandchildren of seniors on picking the right senior housing facility.

 

We talk about the importance of adding a book to your marketing strategy that Max himself used to increase his response rate. He also explains how his focus on a small geographical area helps him get more leads, plus using Facebook videos to create a personal connection with his students. The book has become more of a business card and referral tool that offers value to people and a better response rate for Max. He mentions some other niche-related marketing strategies that he uses, as well.

 

Lastly, we discuss the importance of writing a book as an entrepreneur and how to approach it. Max explains many of the concepts of writing a book and how by utilizing these ideas, people can write their own books more quickly. Don’t miss this episode of Just Start Real Estate that is value-packed with lesser-known marketing strategies with marketing expert, Max Keller!






Notable Quotes:

“It started with my own money. When you’re doing one deal at a time, it works. But once you start doing multiples, that doesn’t work.”

  • Max Keller

“I really wasn’t standing out, and it was a grind.”

  • Max Keller

“Being a math teacher, I knew this is a number’s game. I didn’t want to overpay for deals and at least I made that good decision.”

  • Max Keller

 

“I didn’t leave teaching to be on a hamster wheel and a grind.”

  • Max Keller

 

“Of all the deals that I do, 80% of them are with people who are older.”

  • Mike Simmons

 

“When you give people choices that don’t point to you, they see you as objective and credible.”

  • Max Keller

 

“I know a lot of people that are trying to figure out how to use Facebook to generate a higher return on investment and I know a lot of people that have abandoned that because they can’t figure it out.”

  • Mike Simmons

 

“You certainly feel more like you know someone more from a video than you do a postcard.”

  • Mike Simmons  

 

“Generic messaging gets a generic conversion and response rates.”

  • Max Keller

 

“The word-of-mouth marketing is very powerful and there’s really no substitute for it. It’s just very hard to scale. I haven’t found anything better than writing a book that has been able to enhance it.”

  • Max Keller

 

“For every one person that’s written a book, there’s like ten that have a half-completed book they will never finish.”

  • Max Keller

 

“The number one thing that people are struggling with right now are leads.”

  • Max Keller

 

“If it’s perceived to be hard to do, your competition is not willing to do it either.”

  • Max Keller

 

“It’s always good to talk about how to generate leads and to do it the right way.”

  • Mike Simmons









Links:

Max's Free Book Writing Checklist

Deals Chasing You Website

Max's YouTube Channel

Savior Realty Expert Interviews Podcast

Customers Chasing You Podcast

Savior Publishing House

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months




In today’s episode, I welcome Feras Moussa, who is a successful entrepreneur with a tech background. He is the co-founder and managing partner at Disrupt Equity, a real-estate services platform focusing on multifamily acquisition and investments for investors. Feras graduated from the University of Texas with a Computer Science degree and worked at Microsoft straight from college. He later resigned from the company to bring tech to industries that lack it, where he later found his passion for real estate. He has helped raise millions of dollars for multifamily syndications across 2000 units, in addition to managing his own portfolio of properties.

 

Feras shares how his search for new opportunities and love for entrepreneurship landed him in the world of real estate. After starting in single-family home rental investing, Feras later decided to scale up into apartment complexes, where started Disrupt Equity with his partner.  Disrupt Equity is focused on multifamily acquisitions and investments, and in doing so, has helped leverage his strengths in tech to better identify quality investments for others. He shares how he’s always been an entrepreneur at heart as he started his own web company while still in high school. 

 

We get to know the ups and downs he faced while starting his business, and what the specific challenges were that he faced in the journey. He also cites how his tech background has helped him grow his business and bring changes to the real estate investment sector altogether, something he had envisioned while leaving Microsoft as a developer. 

 

Feras talks about real-estate investing as being a numbers game, and that by investing in apartments and not single family houses, you can make better profits. He also shares with us his way of viewing an apartment deal. He weighs the price factor to check for the risks as well as the rewards, and also keeps a check if syndication is a possibility with each deal.

 

We also discuss how Feras views software such as Asana, Slack, and email and why these are better to use than normal ways of texting. He also discusses how he makes use of these software applications to assign tasks to his virtual assistants and teammates. We learn how trust is a highlighted major factor in relationships with VAs, and that appropriate pay and understanding can help them feel more connected to your business and enhance their productivity.

 

Feras explains what disrupt management actually is, and how he scaled his business to 1500 units in three years. Coming from this background of education and practical experience, Feras shared valuable information on a lot of topics ranging such as handling property management through COVID-19, finding investors and building the right partnerships, handling nightmare syndications and bouncing back after major setbacks, and facilitating a great relationship with brokers, while also giving away tips for sourcing off-market deals.

 

Feras is a great guy and I loved getting to know him better, both for his real estate knowledge and also because he is a generous and charitable human being. You do not want to miss this fascinating and informative episode of the Just Start Real Estate Podcast with guest, Feras Moussa!







Notable quotes:

 

“Obviously, coming from the tech world, stocks are the thing everyone thinks about, but I was looking for different opportunities.”

  • Feras Moussa

 

“We just ended up pivoting to do full-blown property management, because it's a much bigger bang for the buck.”

  • Feras Moussa

 

“Even if you have that one employee that goes to 10 different houses, that's a lot of time wasted in transit.”

  • Feras Moussa

 

“It's just how much we use tech to really give visibility.”

  • Feras Moussa

 

“What I have found is, if you have a very linear straightforward task that's well defined and doesn't allow for a lot of variables, you can hire a VA and it can work. “

  • Feras Moussa

 

“Our VAs feel like they're part of a team and they work US hours. That's part of the requirement.” 

  • Feras Moussa







Links:

Feras’ Website

Feras’ LinkedIn Profile

Disrupt Equity Website

Feras’ Email

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months


In a very insightful conversation today, I am pleased to welcome fellow real-estate investor, popular speaker, educator, podcaster, and author Mitch Stephen onto the show. Mitch has been in the real-estate game for more than 25 years and he has purchased well over 2,000 houses in and around his hometown of San Antonio, Texas. Today, he specializes in owner-financed properties with individuals left behind by traditional lending institutions. Mitch has also forged the creation of a mass texting software, LiveComm. Listen in as this phenomenal individual shares his journey building and expanding the empire he has built!

 

Mitch says he started basically because of a substantial relationship he had with a woman who left him for someone who was rich and in a better position than he was at that time. He badly wanted a path to financial freedom but money was never discussed in his family or even while he was in school. He shares that his real estate investing career started at the age of 23 when he read Nothing Down by Robert Allen, which gave him the courage that he could get into real estate. But it took him seven years to own the concept in his heart and actually get started with it.

 

Mitch had, by accident, made some money in real estate, which propelled him to get more actively involved. He flipped a couple of houses and put $35,000 in the bank which was a year's salary for him when he was a bartender. He decided to take a year off and see what he could do. In 1996, he flipped forty-five houses, sixty-five houses the next year, and then one-hundred-fifty the following year. He’d grossed a lot of money but was very unorganized and inexperienced to be at that level.

 

Mitch talked a lot about working with his family members and the lessons they have learned along the way. He said sometimes it is a struggle because it is almost as there is shared mistake-making and little progress forward. Mitch got to the point where he had to shut down the business, reassess everything, and start fresh. Even with these issues, he has made it work with family members and his daughter has been a loyal employee for over 25 years.

 

He’s shared a very successful idea he’d implemented to obtain more deals. He partnered with people and paid them 50% of the profit if they brought him a good deal. He shares how he would have a line outside his door every day of ten or fifteen people who showed up because they didn't have any other source of income.

 

Mitch has also discussed people who tend to spend a lot of money when they initially start making good money and said that people who have that kind of money appreciate people who are careful and live within their means. We have an extensive discussion about the real estate market downturn in 2008 and how his business thrived during those times. It was after this that Mitch started finding and hiring better people, which made a noticeable and positive impact on his business.

 

Mitch’s company specializes in buying distressed properties with other people’s money and selling those properties with owner financing. His personal expertise includes raising private money, finding bargain properties, negotiating favorable terms, dealing with renovations and contractors, and selling notes with little to no discount. Mitch also spoke about the educational programs he has put together to help other investors do exactly this and experience success in this field.

 

Mitch and I just have a blast in this episode of Just Start Real Estate and you don’t want to miss it! It is longer than usual because he just provides us with so much wisdom and actionable advice, so please take the time to listen and learn from this fabulous guest, Mitch Stephen!




Notable quotes:

 

“When I re-read the books, after some maturing, I was able to actually absorb the message deeper and own it in my heart.”

  • Mitch Stephen

 

“I'm interested in my financial freedom, and the stability of my family and my income for a long period of time. I don't give a damn about a car.”

  • Mitch Stephen

 

“I think people who have that kind of money appreciate people who are careful and live within their means.”

  • Mitch Stephen

 

“We learn what a good partner is, or we learn what a good business is when they can survive a bad time. ”

  • Mitch Stephen

 

“I do not ever want to take someone's house, I think it’s the shittiest business plan in the whole wide world.”

  • Mitch Stephen

 

“I only borrow what I need, I don't borrow money to live on.” 

  • Mitch Stephen



Links:

Mitch’s Website

Mitch’s LinkedIn Profile

Real Estate Investor Summit Podcast

MY LIFE & 1,000 HOUSES: Failing Forward to Financial Freedom

MY LIFE & 1,000 HOUSES: 200+ Ways to Find Bargain Properties

MY LIFE & 1,000 HOUSES: The Art of Owner Financing

Livecomm

Nothing Down

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months





For this episode, I am excited to welcome AJ Osborne to the Just Start Real Estate Podcast. AJ is an entrepreneur, investor, author, speaker, and popular podcast host of Cashflow 2 Freedom and Self Storage Income. He also owns and manages his self-storage portfolio of $100 million in assets and specializes in acquiring and turning around underperforming facilities with a value-add strategy. AJ loves to show other entrepreneurs and investors on how to focus on technology and automation in order to grow their businesses.

 

 AJ starts out by providing some background on how he got into real estate investing. He starts off by telling us that he was an insurance nerd, and even though it is thought of as a boring occupation, it taught him so much because of the lessons it provided him. He was selling group insurance policies, which were very technical, had a long sales cycle, and a very high failure rate. He learned so many great lessons from working in this field but started to see that it was not something he could scale and he wasn’t really working for himself.

 

As AJ began to see that earning a high wage wasn’t necessarily making him wealthy or financially free, he decided to buy brokerages in order to consistently have clients. He had a terrible experience with one of these deals and this changed his entire work strategy. He decided he needed to actually own assets that paid him consistently and predictably. AJ and his dad, working as partners, ended up buying several self storage complexes mostly because they thought they would be easy real estate investments because they didn’t have toilets. What AJ found was that they were more like businesses rather than real estate assets.

 

AJ said that the way they began approaching these self storage investments was to look at the potential for building revenue only. I asked him to explain what he meant by revenue management other than occupancy because this type of investing seems a lot like multi-family properties to me, which hinges on occupancy. AJ gave us some great analogies to explain his philosophy towards creating wealth with this unique wealth-building tool.

 

AJ shares a lot about the lessons he learned in building his business and he found that very few people understand the intricacies of self storage investing so he decided to share all of this information through podcasting and writing a book, titled The Investor’s Guide to Growing Wealth in Self Storage. He said they just starting uploading all of this information and it caught on like wildfire because there are no other resources for this type of investing. AJ mentioned how they get a lot of deals this way because sharing these investment strategies built people’s trust in their business.

 

AJ mentioned he had just started a private equity company, so I asked him to explain what that meant to our listeners. He said that they just take on private investor’s money to give them equity in a deal. He explains to us how he started in this arm of the business and give us some specific examples of deals he has taken on private money. He also shared how doing business this way reinvigorated him because he is a people-person and loves brainstorming with others.

 

I asked AJ to explain the new technology company he is involved with. He said they are partners with Tenant Inc, a property management program whose technology is superior, yet simple and helps to centralize and streamline your self storage business. Some of its functionality includes ways to easily integrate third-party technology, manage your managers, and bolster your profits, equity, and market position.

 

We also talked about networking, how you go about finding and closing self storage deals, how to grow your businesses and still be personally productive, and so much more! You have GOT to listen to this information-packed episode of Just Start Real Estate! AJ is involved in so many different projects and aspects of the industry, you do not want to miss all of the fantastic value he shares!



Notable Quotes:

 

“I followed in my father’s footsteps as a salesman because that was what I thought life was.”

- AJ Osborne

 

“I learned very quickly, and early, there were some things I was good at and I had to stick with that because there was nothing else.”

- AJ Osborne

 

“I liked sales - it made me fail all the time!”

- AJ Osborne

 

“Sales experience will serve you forever. Sales is such a valuable background to have.”

- Mike Simmons

 

“That was the culture of my family… no one cares if you are hurting, you just work.”

- AJ Osborne

 

“I was rich, but I was not wealthy. Those two things are completely different.”

- AJ Osborne

 

“I was on the biggest treadmill ever, and the moment that it stopped, I was screwed.”

- AJ Osborne

 

“We own a lot of different companies and in most, we are partners. We have an incredible relationship.”

- AJ Osborne, about his father 

 

“That’s what we real estate investors do - we get into it and realize what it takes to actually be profitable.”

- Mike Simmons

 

“What operational aspects can I change to increase the revenue to make it worth my time?”

- AJ Osborne

 

“We focus on understanding our tenants.”

- AJ Osborne

 

“We are cash-flow guys.”

- AJ Osborne

 

“I want to be the best - I’m just a little competitive.”

- AJ Osborne

 

“People don’t understand this asset class and they need to, so I started the podcast and wrote the book.”

- AJ Osborne

 

“I figured if we could partner with other people, we could grow so much bigger and faster.”

- AJ Osborne

 

“I like other people participating in success.”

- AJ Osborne

 

“You build a relationship and the relationship turns into deals.”

- AJ Osborne







Links:

The Investors Guide to Growing Wealth in Self Storage: The Step-By-Step Playbook for Turning a Real Estate Asset Into a Thriving Self Storage Business

Cashflow 2 Freedom Podcast

Self Storage Income Podcast

Tenant Inc

Self Storage Income

AJ on Facebook

AJ on Instagram

Cashflow2Freedom on Instagram

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months




In this episode, I have the opportunity to interview successful investor and entrepreneur, Mike Bonadies. Mike is the owner of Side by Side MRO, a maintenance, perseveration, and construction company, and co-owner of TerraVestra, a property management company. He is also a landlord himself owning 25 of his own units in South Jersey. Get ready to dive into some of the less spoken of and dirtier aspects of real estate in this interview!

 

Mike begins by telling us about his time in the corporate world as a commercialization manager for DeWALT power tools. He said his work experience was in the construction industry as he was brokering deals with Home Depot. A coworker overheard him working the phones one day and asked him if he had ever considered being a landlord, and that was the beginning of Mike’s real estate investing journey. After doing some research, he bought his first duplex in South Jersey, which he house-hacked. He invested in twenty properties before people started coming to him about property management issues. His buddy, Drew Side, owned sixty properties, so together they decided to start their own property management company, TerraVestra. This also led them to start their own property maintenance company, Side by Side MRO.

 

I told Mike that I have a company managing my properties and my only frustration with them is that often the maintenance calls seem really expensive, especially since I have a flipping background. Mike took some time to explain the differences between how construction and maintenance companies operate, especially because of the overhead they may have or the services they are providing. There is also a different level of insurance that a maintenance company has to hold which drives up the cost of service calls. We spent some time discussing the details of finding and working successfully with property management companies.

 

We talked extensively about property management styles, how they contract with customers, how they handle pricing, and finding a company that fits with your vision. I wanted Mike to explain how a landlord could go about finding a property maintenance company if they were just interested in contracting this type of company to handle their portfolio. Mike gave us several routes on how to best find and vet these types of companies. He also talked about how important it is to find maintenance companies that have experience with your market’s property asset class.

 

I asked Mike about how to go about finding an effective property manager based on the size of an investor’s portfolio. He brought up a great point about the manager’s size and if they are spread out over several states or work more locally. He also addressed the difference in types of properties and how much attention you would get from various kinds of management companies. We also discussed the level of property he looks at to purchase and also to manage. Mike said he likes to raise the quality level of neighborhoods, so he will buy several properties on a particular street and bring all of them up a couple of notches. We talked a bit about the impact of the pandemic on housing and what types of homes might provide a return regardless of the restrictions and ongoing impact. 

 

We have interviewed other landlords and property managers recently, but in this episode of the Just Start Real Estate Podcast, our guest provides some unique insights and valuable, practical advice for all manner of property owners. Don’t miss it!







Notable Quotes:

 

“Once you build your brand and show some success, people will absolutely start investing in you.”

 

  • Mike Bonadies

 

 

“I just started blabbing to everyone what I was doing and pretty soon I had people coming to me saying that they wanted to get involved.”

 

  • Mike Simmons

 

 

“The money is out there. You just have to show a little initiative.”

 

  • Mike Simmons

 

 

“As a landlord, to me, the maintenance is the silent killer.”

 

  • Mike Simmons

 

 

“A maintenance company’s cost structure and how they make money is very different from contractors.”

 

  • Mike Bonadies

 

 

“There are not enough people doing physical labor, and therefore, the rates of a normal maintenance tech are getting higher, and when those go up, prices to customers go up.”

 

  • Mike Bonadies

 

 

“If you get a good maintenance company, they will absorb all of your headaches, and even if you pay a slight premium for the service, it is worth it.”

 

  • Mike Bonadies

 

 

“I feel like a good property management company doesn’t keel to every request from a tenant.”

 

  • Mike Bonadies

 

 

“I look at every property that we manage like, ‘If this was my property, what would I do?’”

 

  • Mike Bonadies

 

 

“Understanding the industry is equally as important as having systems in place.”

 

  • Mike Bonadies

 

 

“Our maintenance clients just know they can trust us and that is the level we want to be at.”

 

  • Mike Bonadies

 

 

“If you want property management exactly your way, hire admins, and do your own.”

 

  • Mike Bonadies

 

 

“If a property manager has to drive three hours to get a property, how well do you think they are managing it?”

 

  • Mike Bonadies

 

 

“You need to be a better value than everyone else.”

 

  • Mike Bonadies

 

 

“We have had to get incredibly creative during the pandemic to get tenants to pay rent.”

 

  • Mike Bonadies

 







Links:

TerraVestra Property Management

TerraVestra on Facebook

Side by Side MRO

Side by Side on Facebook

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Direct download: Property_Management_and_Smart_Maintenance_for_Landlords.mp3
Category:general -- posted at: 3:30am EDT

Today, I welcome Daniel Ramsey to the Just Start Real Estate Podcast to talk about all things Virtual Assistants. Daniel is the founder & CEO of MyOutDesk, the highest-rated Virtual Assistant company in the marketplace with over 500 five-star reviews, and over 13 years of experience serving more than 6000 clients.

 

Daniel’s journey to launching MyOutDesk actually began on his honeymoon in Guatemala, when he suddenly found himself working and closing real estate deals at the bar at 1:00am. He realized that if he wanted to have the life he had dreamed of and be able to take some time off, he would need more leverage. So he returned to the US and spent two years completely rebuilding his real estate business with Virtual Assistants, before taking 6 months off to move to South America.

 

Daniel explains that MyOutDesk was born in 2008 when one of his friends asked him if Daniel could help him to find five assistants for his business. Daniel agreed to supply the team, but it would be a lot of effort, so he would have to charge for it. He registered the business and supplied the assistants and before long, his friend had a team of seventeen assistants saving him around 150k per year. That’s how MyOutDesk was born accidentally. The team now consists of twenty US-based employees and forty freelancers in the Philippines.

 

Daniel then explains that as businesses grow and generate more revenue, they pass through different stages. First ‘I do it,’ which then becomes ‘we do it,’ which then transforms to ‘they do it,’ and in each stage, the focus shifts, and different things are a priority. When your business moves from ‘we do it’ to ‘they do it’ - all of your focus lies on systems and processes.

 

I am then particularly interested in why Daniel has chosen the Philippines as a country to source VAs from, and he explains that his reasons are mostly because the English language is taught from a young age, and the culture and understanding of right and wrong is very similar to the US.

 

Daniel then explains that hiring is hard if you don’t have the right process, and even then it may not be a perfect fit the first time around. He then goes into his hiring process in more detail and also shares what happens before a VA is presented to a client, how long it normally takes for their clients to hire someone, and what the expected cost for a full-time VA is.

 

Daniel then compares their service to marriage rather than dating - all of their assistants are already doing the job they are being hired for and have experience, and that’s the reason why they only source full-time team members.

 

Because I have had experience with Virtual Assistants in the past, I wanted to share a struggle I had which is I found the ones I hired unable to think outside of the box or to use deductive reasoning in certain situations. Daniel explains that the problem really lies within the business and a lack of well-documented systems and processes. He explains that everything in a business can really be explained with if/then statements and that takes a lot of time to document. And the more complex your business is, the longer it takes to find someone and train them.

 

Throughout the interview, Daniel has shared a lot of gold nuggets that you can take and implement in your business, so give it a listen to catch all the details!







Notable Quotes:

 

“I never learn a lesson unless my heart, or my wallet, hurts.”

- Daniel Ramsey

 

“I had a pretty big epiphany. I wanted to stay married. I wanted to one day have kids. I wanted to have a life.”

- Daniel Ramsey

 

“As an entrepreneur, we all think ‘I’m going to start a business, so I can build this beautiful life,’ but the reality is that you’re constantly in the fight.”

- Daniel Ramsey

 

“I was a helicopter delegator, I’d tell somebody to do it. Then they’d do it and screw it up and then I’d have to go back over it to fix it.”

- Daniel Ramsey

 

“I picked up that property, built a duplex, and I learned a lot, which is code (if you’re an entrepreneur) for I lost money.”

- Daniel Ramsey

 

“In the process of building your home, there is a step-by-step process. In the process of building leverage in your business, there is a step-by-step process.”

- Daniel Ramsey

 

“If you take two or three hours and focus on growing the business, that’s when you start to see magic. That’s when scaling starts to happen.”

- Daniel Ramsey

 

“There is a point at which you say, ‘Oh my God, I just bought half of my day back.’”

 - Daniel Ramsey






Links:

For a consultation text SVP to 31996

MyOutDesk

Scaling Your Business with MOD Virtual Professionals

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months



Direct download: Scaling_Your_Business_and_Increasing_Profits_with_Virtual_Assistants.mp3
Category:general -- posted at: 3:30am EDT

Today, I welcome Nate Bailey to the Just Start Real Estate Podcast. Nate is a successful entrepreneur having built multiple businesses in the areas of insurance and real estate. He is the bestselling author of three books including the 100 Mile Mindset: Discover the Power of Being Your Word. Nate is a former US Army Lieutenant, popular speaker, and coach.

 

As always, I like to start by going into my guests' backgrounds to understand their journey and how it led them to do what they do now. Nate tells me about his days in school and how he used to enjoy getting pulled out of class to listen to various speakers, always thinking that that is something he wouldn’t mind doing. After college, he joined the army, then started an insurance business before transitioning to being a speaker and coach full-time.

 

We then discuss the role of sports in his early life and how it contributed to his success by instilling discipline and encouraging the “dust yourself off and get back up” mentality. Nate then shares how he transitioned from high school into the army, which he loved more for the camaraderie rather than the military life.

 

In 2004 Nate then started an insurance business while he was in the National Guard and began his journey into real estate investing in 2010. He shares how he had been wanting to do this earlier, but fear and procrastination held him back. Nate explains that after his first deal was done he built a portfolio rather quickly. We then discuss the opportunity economic downturn brings, since 2010 had been a great year for Nate to start investing in property.

 

We then discuss the sale of his insurance business and what inspired him to transition to speaking and coaching. Nate shares that while his business was successful, he didn’t feel inspired by it. He had always wanted to make an impact on people’s lives and that’s how he decided to move into the field of coaching over a period of 2-3 years. Nate shares that the main themes in his speaking and coaching business revolve around mindset and Championship Leadership. Being a great leader for him means to lead yourself first.

 

We then divide into discussing the winning mindset and how we can create one for ourselves. Here Nate shares some gold nuggets from his experience of doing the 100 mile run. Nate shares how important it is to put yourself into difficult situations to grow and he also tells us a little more about his in-person event. Nate also attributes his success to surrounding himself with other people that are successful and I couldn’t agree more that positive peer pressure helps you to grow.

 

We then discuss the power of being your word and here Nate explains his concept of the integrity bank and the importance of following through with what you say you’re going to do and just how powerful this is.

 

Nate then shares his philosophy of life, which is just beautiful. Nate explains that most people just think of a legacy of something that they’re leaving behind, he however believes that the key lies in living your legacy, which is an amazing shift in thinking! 

 

This is an incredibly powerful and motivating episode of the Just Start Real Estate Podcast that you do not want to miss with Championship Leadership’s Nate Bailey! 







Notable Quotes:

 

“What’s required to be a great athlete, the work, the discipline, the dedication, the commitment, wanting to win - there are so many things that I’ve drawn from athletics that have helped me to be successful in life.”

 - Nate Bailey

 

“The best thing about the military that I really loved was the people and the camaraderie. I wasn’t necessarily in love with military life.”

 - Nate Bailey

 

“After I bought my first investment property, I ended up buying three more in a matter of months.”

- Nate Bailey

 

“I knew this was something I always wanted to do, but there was always this apprehension, this fear of not knowing how to do it.”

- Nate Bailey

 

“My previous job did not fire me up. It did not get me excited in the morning.”

- Nate Bailey

 

“You have to put yourself in difficult situations to create a mentally tough mindset.”

- Nate Bailey

 

“Everything is positive reinforcement right now and that makes us a little soft.”

- Nate Bailey

 

“Peer pressure isn’t necessarily negative, it just depends on what the environment is. If you put yourself around the right people, the peer pressure is to be excellent.”

- Mike Simmons

 

“The integrity bank is all about the power of being your word.”

- Nate Bailey

 

“You can only withdraw so much from the integrity bank until there is a negative balance.”

- Nate Bailey

 

“It’s powerful to have those kinds of people in your life, the ones that give you their word and you know it’s a done deal.”

- Mike Simmons

 

“If you live a legacy, you’re going to leave one.”

- Nate Bailey






Links:

Podcast: Championship Leadership 

Nate's Website

Free E-Book: 100 Mile Mindset

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

 

Direct download: Championship_Leadership_with_Nate_Bailey.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I welcome 3-time best-selling author Chris Prefontaine to the show. Chris is the founder and CEO of SmartRealEstateCoach.com, the host of the popular show “Smart Real Estate Coach Podcast,” and has been in real estate for almost 30 years.

 

We first bring Chris’ experience into context by going way back to the early 90s. Chris initially went to college and worked for his father full-time as a purchasing agent, at which time he read Trump’s first book, The Art of the Deal, and he felt the itch to get into the real estate business, but he didn’t quite know yet how to get started.

 

Eventually, after watching his father purchase, engineer, and flip land, Chris made his first deal - a split level home on a golf course, bought conventionally with a mortgage. He subsequently subdivided the land, built a duplex on it, and then sold the duplex as 2 condos. Within a year, Chris made the transition to go into real estate full-time, although not entirely by choice. His dad had sold the company Chris was still working for and he got fired from it after only 4 weeks by the new owners. This left him unemployed with 2 young kids. Then, Chris listened to an old Earl Nightingale cassette tape and that sparked an idea. He subsequently did over 100 deals with absolutely no cash down!

 

We then dove deeper into his business model and Chris explains what it means to buy a house on terms. Chris explains how the ‘08 crash left him struggling, without any credit, and how he had to make some firm choices about his business model that led him to creative financing. We then go further into detail, explaining the terms of a lease-purchase, what it means if a property is owner-financed, how everyone involved benefits from the agreement for a variety of reasons, such as for example tax and estate planning.

 

Chris then shares his personal philosophy for transitioning from a full-time job to real estate investing. His most important advice is to have a game plan and then execute it, which is the hardest part. His top strategy has 3 simple steps: pick a niche, find someone to show you the path, and put the blinders on for 36 months to focus.

 

Today, Chris’ business is almost entirely based on lease purchasing and they currently purchase between two and five homes a month. After transitioning to his 3 payday model, Chris admits that he just doesn’t feel inspired to chase after one-time deals and this focus is what has contributed largely to his level of success.

 

After this, we discussed the ever-popular topic of finding deals. Chris reveals exactly how he finds his deals and then converts them, and what he pays particular attention to. We then dive into the most common objections that Chris experiences and he shares the exact replies that he gives in these circumstances.

 

Lastly, we talk about contingency plans and how Chris protects the business in case of a buyer defaulting or the economy taking a hit, which are two major concerns with the type of investing that he does. This episode is chock full of actionable advice and so you will not want to miss this version of the Just Start Real Estate Podcast with guest, Chris Prefontaine!






Notable Quotes:

 

“Don’t get scattered. If you have a plan, stick to the plan. Stop looking for answers once you find them.”

- Mike Simmons

 

“A lot of people just get into that asking mode where they want more information, but they’re afraid to pull the trigger.”

- Mike Simmons

 

“Here’s a formula I tell everyone: pick a niche you can get behind, something you can get passionate about. Find the person that can show you the path, someone that already did it. Then put the blinders on for 36 months.”

- Chris Prefontaine

 

“Stay focused on what you know works. Focus is really, really important in real estate.”

- Mike Simmons

 

“If we’re getting back into real estate, what are going to be the rules here? No signing personally, no bank loans, no soliciting of assets. All the things we did wrong, we just decided never to do again.”

- Chris Prefontaine

 

“The takeaway is powerful - it’s that push-pull tension. When you have something taken away, the human instinct is to get it back.”

- Mike Simmons







Links:

Real Estate on Your Own Terms - Free Book

The Art of the Deal

Chris’ Website

Chris’ Google+ Channel

Chris’ YouTube Channel

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months




In this episode, I am happy to welcome Mike “C-Roc” Ciorrocco. C-Roc has been a real estate investor since 2005 and is the CEO of People Building Incorporated. He is the host of the popular podcast “What Are You Made Of?” and author of the upcoming book, Rocket Fuel. He has also been recognized as one of the Yahoo Finance Top Business Leaders To Follow for 2020.

 

C-Roc began by telling us that he started in sales at the age of eight when he would find golf balls at the golf club he lived on and sell them to the golfers, all while being chased by the club manager in a cart! He was in sales for a water treatment company for nine years before getting into real estate and through this experience, he really learned how to deal with people. In 2005, C-Roc became a realtor and was a top-performing agent pretty quickly because of the work ethic he had developed in his former work life. After about a year, he realized that showing people houses wasn’t really his thing, so he moved into the mortgage industry.

 

C-Roc brought up training under Grant Cardone and I asked him what it meant to be a licensee of his program. The mortgage company he went to work for was already using Cardone University products and they were seeing a ton of growth when they implemented his systems. Being a licensee means that C-Roc can intertwine the Cardone ideas with his own and present them in his coaching and seminars. He said he has his own branding and ego, but that he is not stupid and wants to be associated with uber-successful people! C-Roc also gave us some of his background to explain why he felt drawn to Grant and his philosophy.

 

I asked C-Roc to explain the “What Are You Made Of?” Movement and what it really means to him. He said that he grew up surrounded by a lot of broken people who suffered from mental illness or addiction and that it influenced him to not only rise above it but also to try to fix it. He said that “what are you made of” is a form of self-talk, affirmation, or a way to push through a difficult situation. He talked about the power of writing down ideas, making a commitment to things even if you don’t know how to do them, and having people and opportunities come into your life to help you achieve goals. C-Roc talked about a difficult experience they had in their business that really caused them to re-evaluate what they were doing and it really birthed the movement.

 

I asked C-Roc to talk a bit about his upcoming book, Rocket Fuel. He said that it is his story and how past hardships can be a powerful force to either keep you down or break free and succeed. It uses the “what are you made of?” question to lead to personal transformation and achieve a fulfilling life. He said that he is really vulnerable and transparent in the telling of his story so that people can really see what the entrepreneurial journey is all about.

 

C-Roc also shares the enormous goals he has for his business, those he had before the pandemic, and how they have been affected by the coronavirus. He is working to develop a culture in their company so that the employees are indoctrinating each other on the way things are done to grow in team accountability and be successful. He is also planning to travel extensively promoting the book and the movement in order to help people grown their businesses by building up their employees.

 

This is an incredibly honest, transparent, and riveting episode of the Just Start Real Estate Podcast that you do not want to miss that is applicable to all people in any industry!






Notable Quotes:

 

“Don’t hyper-focus on whether a salesperson you may hire has a ton of real estate experience… that is easily taught. Finding a great salesperson is often difficult.”

 

  • Mike Simmons

 

 

“My success is all about work ethic… there isn’t a secret.”

 

  • Mike “C-Roc” Ciorrocco

 

 

“Sometimes you have to get uncomfortable to get where you want to be.”

 

  • Mike “C-Roc” Ciorrocco

 

 

“I find someone that is successful and mimic them.”

 

  • Mike “C-Roc” Ciorrocco

 

 

“When something works, I like to share it.”

 

  • Mike “C-Roc” Ciorrocco

 

 

“Masterminds are ridiculously effective if you take them seriously and surround yourself with the right people.”

 

  • Mike Simmons

 

 

“Sometimes pain can be a great motivator.”

 

  • Mike Simmons

 

 

“Fire can propel you or burn you.”

 

  • Mike Simmons

 

 

“I thought the journey to success is invisible, so I got people on my podcast to share their stories and setbacks, how they have overcome them and turned it into rocket fuel.”

 

  • Mike “C-Roc” Ciorrocco

 

 

“I want to be a thought leader in the industry of comebacks.”

 

  • Mike “C-Roc” Ciorrocco

 

 

“I am looking for people that want to share their story and give them a platform to do that. I am all about giving.”

 

  • Mike “C-Roc” Ciorrocco

 

 

“The concept of turning setbacks into rocket fuel is so important and once you wrap your mind around it, your life will never be the same.”

 

  • Mike “C-Roc” Ciorrocco

 

 

“Gratitude has changed my life.”

 

  • Mike “C-Roc” Ciorrocco

 






Links:

Grant Cardone

People Building Incorporated

Mike’s Website

Rocket Fuel

What Are You Made Of? Podcast

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months


In this episode, I am excited to host Laurence Jankelow. Laurence is the Co-Founder of Avail, an all-in-one software solution designed for do-it-yourself landlords. Prior to launching Avail, Laurence spent seven years in data analytics first as a Consultant at Protiviti Chicago and then at Goldman Sachs. Laurence is also a long-term real estate investor with a passion for 3-unit multi-family properties in Chicago.

 

We started as we usually do by diving into Laurence’s background and how he got into real estate investing. He and a friend took some real estate classes while attending college and studying finance. One professor explained to them the perils of not paying your property taxes and how an investor could really take advantage of the property owners who do not. Laurence and his friend took that info and invested in delinquent mobile home property tax lien certificates.

 

After graduating from college, Laurence went into a business and risk-consulting career in Chicago and stopped investing for a time. After working a couple of different corporate jobs for several years, he had accumulated enough savings to purchase his first multi-family property. He performed his own property management for several years before his college investing buddy encouraged him to quit his corporate job to begin a start-up. They were both using Excel to manage their rental properties and felt like they could create something that was more appropriate and efficient for the necessary property management tasks.

 

When they initially started this project, Laurence and his partner thought they would be able to find a software engineer to write the program for them with a stake in the company. They couldn’t find anyone willing to do that, so they took two years to teach themselves how to write the code themselves. I asked the obvious question of, “Why not just hire a property management company?” and Laurence said that they felt that they were giving away their entire profit margin if they chose that route.

 

I asked Laurence why he has chosen to focus on 3-unit properties and he pointed out that they are very plentiful in Chicago and work for his price-point. We discussed in detail how he evaluates properties and what his investing goals are. We also talked about some of the tactics he uses managing his own properties so that he doesn’t get service phone calls all day, every day. Additionally, we discussed the systems and processes Laurence has in place to perform as an effective landlord.

 

We then dove into talking about Avail, the software that Laurence and his buddy created. He said the initial goal was to develop it for themselves so they had a more effective portfolio management tool. They wanted it to define a particular process and automate it for investors who considered themselves part-time landlords. Laurence pointed out during their research, they found that about 60% of landlords do not screen potential tenants, so they wanted to develop software to aid in the day-to-day tasks of do-it-yourself landlords. Laurence goes into great detail on the functionality of Avail during our discussion, including many features that benefit both landlords and tenants.

 

Not only do you want to check out this comprehensive tool for DIY landlording (link provided below), but you also do not want to miss this information-packed episode of the Just Start Real Estate Podcast with Laurence Jankelow!






Notable Quotes:

 

“To this day I love Excel, but it is not appropriate if you want to be a real landlord and grow that business and manage it professionally.”

 

  • Laurence Jankelow

 

 

“It is a lot harder to build something from scratch than we gave credit to it.”

 

  • Laurence Jankelow

 

 

“Is this rental going to put money in my pocket at the end of every month?”

 

  • Laurence Jankelow

 

 

“I find that the landlords that get the 10pm service calls are the ones that leave the property with a lot of deferred maintenance.”

 

  • Laurence Jankelow

 

 

“We do put a lot of lipstick on our properties, but the mechanics behind it are still good.”

 

  • Laurence Jankelow

 

 

“You want those processes in place whether you are using software to automate them or not.”

 

  • Laurence Jankelow

 

 

“Take high-quality photos, write a high-quality description upfront and you have them for life.”

 

  • Laurence Jankelow

 

 

“I find that property managers are never aligned with what I am trying to do.”

 

  • Laurence Jankelow

 

 

“I feel that nearly all of the risk in owning rentals involves the tenant-screening process.”

 

  • Laurence Jankelow

 

 

“We want to build something that is going to help with the operational side, the day-to-day tasks of being a landlord.”

 

  • Laurence Jankelow

 

 

“We are very tenant-conscious, so we built everything to benefit the them as well.”

 

  • Laurence Jankelow

 

 

“Any landlord with any number of units can use our software.”

 

  • Laurence Jankelow

 

 

“Removing the price barrier is what is going to provide the most value for DIY landlords.”

 

  • Laurence Jankelow

 

 

“I love that you are looking for solutions for the little guy.”

 

  • Mike Simmons

 






Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Rich Dad Poor Dad 

Avail Software

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter



Direct download: Easily_Managing_Your_Rental_Portfolio_without_a_Property_Manager.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I welcome Josh Cantwell onto the show. Josh is the top residential real estate investor in his community of Northeast Ohio and has been a full-time investor since 2003. Josh has bought and sold over 700+ properties in 25 states since this time and he is the host of several podcasts, including the Accelerated Investor Podcast.

 

Josh begins by sharing some of his background and how he got into investing. He has raised and managed over $40M of private money that he is utilizing as part of his current deals through one-off deals, private lender loans, and as equity in his 2600 apartment units. But he got started, like so many of us do, by attending a real estate investing boot camp. Being from the greater Cleveland area, they were already seeing a foreclosure crisis with many publicly-traded companies leaving the city, so Josh got his start with foreclosure investing long before the national housing crisis.

 

Josh spoke in quite a lot of detail about the data that he is seeing that points to the possibility of the COVID-19 pandemic causing another similar situation in the summer of 2021. He compared the policies being observed now to the period of time following Hurricane Erma in 2017 when New York and New Jersey were impacted by this storm. Josh explained that in that case, the banks got ahead of the foreclosure crisis by offering all of the homeowners forbearance agreements. So the hurricane happened and twelve months later, there was a massive spike in foreclosures. Josh, along with many other investors, believe we are headed in this same direction with the pandemic.

 

I then asked Josh to talk to our listeners about raising money. Many would-be investors use not having enough money or not being able to qualify for loans as an excuse for not getting started. Josh said that being successful at raising money often comes down to a person’s own mindset about money. Josh talked about how reliable real estate investments are and how likely it is for lenders to get a high rate of return with no costs. He talked about approaching people on four different levels: if they can buy a house from you, if they can sell you a house, if they can cheerlead for you or refer you, and if they can lend or invest with you. By thinking this way, everyone you meet can become a potential client or partner.

 

Since Josh has been coaching other investors since 2006, I asked him to walk us through the eight traits to high achieving entrepreneurs. These traits include such attributes as self-reliance, taking responsibility for your own life, and having clarity about what you want. Seven-figure earners also have a clear idea of what their average, ideal day looks like and focus on a certain framework for getting things done even though their things to-do list may seem endless. We also talked about time management and allocating certain days per week to free-thinking, revenue-building, and buffer or preparation periods.

 

We talked about the steps to finding private money, marketing, networking at non-real estate events, using technology as a weapon, and so much more! Josh is an incredibly passionate and knowledgeable investor, so you do not want to miss this information-packed episode of the Just Start Real Estate Podcast!

 





Notable Quotes:

 

“I’m primarily focused on raising capital and investing in multifamily properties.”

 

  • Josh Cantwell

 

 

“As a financial planner, I recognized that most of my clients owned real estate.”

 

  • Josh Cantwell

 

 

“You have to play the game and know what is working today.”

 

  • Josh Cantwell

 

 

“I’m glad to hear you say that because it makes me feel smart for doing what I am doing.”

 

  • Mike Simmons

 

 

“If you have something to offer, a product or service, that you think is going to benefit someone, you have a moral obligation to sell it to them.”

 

  • Josh Cantwell’s friend

 

 

“Tell me one person that is super happy with the stock market. Nobody.”

 

  • Josh Cantwell

 

 

“What I love about real estate is that if you buy it right, take care of it, manage it, and cash flow it, it’s about the safest investment in the world.”

 

  • Josh Cantwell

 

 

“With private lending, always talk about your past deals.”

 

  • Josh Cantwell

 

 

“It is all about follow-up and relationships.”

 

  • Josh Cantwell

 

 

“Elite entrepreneurs realize no one is coming to their rescue.”

 

  • Josh Cantwell

 

 

“If you don’t start swimming, you are not going to get to the shore.”

 

  • Mike Simmons

 

 

“You were just spilling the goods left and right.”

 

  • Mike Simmons

 







Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Freeland Ventures

The Flip System

Accelerated Investor Podcast

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter




For this episode, I welcome Bill Manassero to the show. Bill is a real estate investor, entrepreneur, and host of the Old Dawg’s REI Network Podcast, a podcast for people 50 years and older who see real estate investing as a means to fund their retirement years and create a legacy for their family. Prior to forming the Old Dawg’s REI Network, Bill and his family were missionaries to orphaned, abandoned, and at-risk children living on the streets of Port-au-Prince, Haiti. Before that, he was a professional musician and spent over 25 years in business, on both the corporate and entrepreneur side.  A few highlights of his career include meeting Ronald Reagan, working with actor Jimmy Stewart, being interviewed by Oprah, and having CNN produce a documentary on his work in Haiti entitled “Rescued.”

 

Bill’s story is absolutely fascinating and we dive in by discussing his 25 years of business background, which included working in sales and marketing in the automotive and airline industries in Southern California, launching the Nissan infinity division, and then moving on to the technology sector right as the internet took off. At that time, he even bumped into Mark Cuban who was streaming a variety of games via mics in front of radios.

 

Shortly after the bubble burst and Bill felt called to get into ministry. He always enjoyed traveling but usually, that was for work and meant being away from his family – so what better way to take the family on the road with you – as a family rock band! They partnered with Christian organizations and toured together. During this time, they sponsored a child from Haiti and his daughter became obsessed with learning about the country. Little did they know that soon enough they would be visiting Haiti to perform.

 

The trip had a profound impact not just on Bill’s daughter, but the whole family, and Haiti eventually became their new home. They sold everything they owned in the US and returned to Haiti to take care of the kids. Initially, they of course had no idea what they were doing and where to start, but eventually, their efforts grew into an entire organization, Child Hope International, and they invested first in a boy’s home, then a girl’s home, and then a guest house, and even a school.

 

After being struck by a devastating earthquake, Haiti was in the news across the globe which resulted in Oprah visiting and CNN producing a documentary entitled ‘Rescued’ which was all about their efforts. Slowly Bill’s children had grown up and started to return to the US to go to university and Bill’s wife was diagnosed with cancer. So, jointly they made the decision to pass Child Hope International to the next generation and make plans to return to the US together.

 

This left Bill wondering what to do next with his life. He knew he wanted to diversify his investments before retirement, but he wasn’t sure how. After an extensive period of research and reading Rich Dad Poor Dad among other books, Bill had established that real estate investing was the route to go down. He did as much research as he could to develop his plan. He decided to focus on turn-key properties and settled on Atlanta and Memphis as the first areas to make a purchase. After a short trip to both locations, he returned with 3 properties to call his own.

 

Like us all, Bill was learning as he was going along. Some properties were making more money than others and property management turned out to be challenging at times. At last, Bill got himself a mentor who recommended starting a podcast to share his experience of real estate investing for retirement – and after some initial resistance, he went for it. The podcast has over time provided Bill with a large amount of networking opportunities which has certainly helped to open more doors for him in the industry.

 

Bill then shares that he did have the 1000 doors goal and he had reached a staggering 736 doors on the day of recording this episode – a real surprise seeing what a humble person Bill is. Bill shared further that the contacts he was gaining from networking allowed him to do larger projects, which is what got him closer to his 1000 door goal.

 

We then move on to discuss property management. Bill outsources the property management entirely to others. He doesn’t really have a choice in this matter since a lot of his properties are not exactly in his backyard. Over the years he realized that the biggest factor for him when recruiting property managers is transparency.

 

Bill also briefly shares his experience with short-term rentals. He has three that are doing really well in this market. Bill was initially affected by COVID-related cancellations but then managed to recover very quickly through a few changes in his marketing language.

 

We then discuss his current projects and what he feels particularly excited about. Bill shares how he has recently gotten into the senior living sector through a contact of his and what the construction of these new senior living facilities involves. These projects are having Bill engage in aspects of the business he has not previously considered, so this goes to show that there is always something new to experiment with.

 

You don’t want to miss this excellent episode of the Just Start Real Estate Podcast with the fascinating and diverse Bill Manassero!



Notable Quotes:

 

“What am I gonna do? I’m approaching 60 years old. I’ve gotta figure out what I’m gonna do.  I didn’t wanna just go home and collect seashells down at Laguna beach.”

  • Bill Manassero

 

“I hopped on a plane, flew to Atlanta, a couple days later flew to Memphis and then flew back to Haiti, and I had 3 properties.”

  • Bill Manassero



“They’re turn-key, so I really don’t have to do anything, and the next month money appears in my account miraculously. And I’m going ‘Ok, this is really easy,’ maybe I should do more of that.”

  • Bill Manassero



“The turn-key thing was falling a little bit awry. I was having some problems with management.”

  • Bill Manassero



“When you invest in real estate you can do all the studying you want, but you really don’t start learning until you sign your first set of escrow papers.”

  • Bill Manassero

 

“One of the advantages as an older person is that, because it’s not in your backyard, you’re not running down there every two minutes. It kind of forces you to be passive. But, at the same time, you have to rely really heavily on your people in town.”

  • Bill Manassero

 

“You really have to train your people right when picking property managers.”

  • Bill Manassero

 

“The thing that I need is transparency. That’s key for me.”

  • Bill Manassero

 

“I don’t like to micromanage. I want transparency, so I know where to adjust things.”

  • Bill Manassero

 

“The only way these guys make money is to get a lot of properties and hope most of these clients aren’t going to bug them.”

  • Bill Manassero

 

“I get involved to the degree where I really understand how that works, and then I start backing away as I start finding people to be able to take on all the various aspects of it.”

  • Bill Manassero




Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Bill’s Website

Old Dawgs REI Network Podcast

Child Hope International

7 Figure Flipping

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter




In this episode, I have the opportunity to interview successful investor, Ryan Murdock. Ryan spent ten years in the electronics manufacturing industry before transitioning to real estate investing and property management in 2007. Today, he is VP of Acquisitions at Open Door Capital, a real estate investment company from Bigger Pocket’s Brandon Turner. Ryan has extensive management experience in many facets of real estate including retail, office, multi-family, HOA, nationwide consulting, and mobile home parks. He has been a licensed real estate broker since 2008 and owns and operates a portfolio of residential rental properties.

 

Before Ryan got into real estate investing, he worked as a production facility technician in the electronics manufacturing industry, traveling all over the world. His priorities really changed when he got married and found himself having to decide if he wanted to continue to live overseas. He bought his first rental property when he was thirty years old and has been building his “empire” ever since!

 

Ryan’s first investment was in a duplex in Bangor, Maine and he lived on one side while renting out the other, “house hack” style. He financed this investment very traditionally and talks about how this was his first experience with having difficult tenants to deal with. He bought a few more duplexes and was looking aggressively at foreclosures to find other deals, while at the same time he started his own property management company. He ran this company himself for about five years and then eventually paired up with a bigger management company that had a network of employees that he did not. At about this same time, he also got his real estate license so he could pursue his own deals.

 

Eventually, Ryan got to a point with his own portfolio where he was able to leave this company and go back to managing only his rental properties, aided by much better systems, technology, and automation. As he started to broker other deals and do some consulting, it made sense for him to give the project management portion to his past employers so he could spend his time in more profitable endeavors.

 

Ryan utilizes the BRRRR strategy with his properties, so we spent some time discussing how that worked for him. He talked about how he was completely reinvigorated by finding the BiggerPockets podcast and learning about different strategies that he had not yet explored. It made him take a hard look at his portfolio and get money out to use as working capital to invest in more properties. He encourages our listeners to take a hard look at their own properties in order to maximize their cash flow.

I then asked Ryan what made him pick up his life and move to Maui and join forces with Brandon Turner. Ryan and Brandon had partnered to buy a mobile home park and developed a relationship through that process. When Brandon moved to Maui, he asked Ryan to come out and give him a hand, and a week-long stay turned into a month. Brandon eventually hired Ryan as his personal assistant.

 

Because Ryan initially hooked up with Brandon by feeding him a mobile park investment lead, we spent some time exploring this investing strategy. Ryan talked about how to evaluate these types of investments and the techniques they used to add value to these communities. Once Ryan moved to Hawaii, they got really invested in Open Door Capital, Brandon’s company which exclusively buys mobile home parks. At the time of recording, they owned about 10 different communities with approximately 1500 lots. Ryan went into quite a bit of detail about what they look for in an investment of this kind and also the type of investor that they look for to partner up with them. He also pitched the “Bring Brandon A Deal” promotion they are running now if someone finds them an off-market mobile park deal.

 

Ryan has an incredibly diverse background in investing and in life, so you do not want to miss this entertaining and informative episode of the Just Start Real Estate Podcast!

 



Notable Quotes:

 

“The real driving factor for getting into real estate was that I just couldn’t see myself in another corporate job for the next thirty years.”

 

  • Ryan Murdock

 

 

“I went on Amazon and bought every real estate and property management book they had because I had no idea what I was doing.”

 

  • Ryan Murdock

 

 

“Maybe if I had read some different or better books I wouldn’t have made so many mistakes.”

 

  • Ryan Murdock

 

 

“If I am going to be married to my own rental properties, I might as well start managing some for other people and generate a little income.”

 

  • Ryan Murdock

 

 

“If you feel like you are getting close to hiring help, you are probably already past the point when you should.”

 

  • Mike Simmons

 

 

“I think a lot of people are like me - I had 10 cents in my bank account and every day is a struggle to hustle.”

 

  • Ryan Murdock

 

 

“There are different tiers to financial freedom… it doesn’t happen overnight.”

 

  • Ryan Murdock

 

 

“Finding and listening to the BiggerPockets podcast really lit a fire under me again.”

 

  • Ryan Murdock

 

 

“I encourage other investors to keep an eye on their properties’ financials.”

 

  • Ryan Murdock

 

 

“I just want to buy and hold everything.”

 

  • Ryan Murdock

 

 

“Because of Brandon’s platform and reach, he is able to attract some extremely talented people.”

 

  • Ryan Murdock

 

 

“I’m always amazed at the ways you can make money in real estate.”

 

  • Mike Simmons

 






Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Real Estate Investing for Dummies

Property Management for Dummies

BiggerPockets Podcast

Open Door Capital

Bring Brandon A Deal

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

 


For this episode, I welcome fellow real estate investor, Andrew Holmes. Andrew built the #1 flipping team in Chicago and completed over 850 deals in the Chicago market. He owns over 250 rentals and more than 2 million in assets. He started the Chicago Real Estate Investors Association which has become the #1 Real Estate Association in the US. Andrew has worked with over 450 investors in the Chicagoland area helping them develop a rental portfolio of more than 2800 rentals. Andrew and I started investing in real estate around the same time - he absolutely killed it and I am absolutely thrilled to learn about just how he did it in today’s interview.

 

Andrew first shares his background story and how he got his real estate license back in college with money designated to pay for his studies. He shares further along in the interview how this is something he has never even told his parents about!

 

We then moved on to discussing how Andrew got started seriously investing at the age of 32. We discuss his first year in business where he completed an astonishing 10 flips. Having done two flips myself in the same year, I was extremely interested to learn about just HOW he did it without burning out. Andrew then explains how he made the first investment himself, before securing further financial investment from two business contacts. The growth just continued exponentially after that.

 

Together we then dive into discussing the sheer operational challenges of rehabbing this number of properties at the same time and Andrew shares how he got started with a less-than-perfect Jack-of-all-trades contractor - and how he slowly transitioned out of moonlighting and into working with proper contractors. Lucky for him he realized that the stress of working all night just wasn’t worth it after about the third flip. Andrew then shares that as the number of flips he completed grew, the profits started to fall.

 

We discussed how his parents have influenced his outlook on life. Having both been hard-working, well-qualified surgeons, Andrew’s parents saw themselves as true professionals and they expected nothing less than that from Andrew himself. Andrew however saw two people who worked extremely hard and didn’t have all that much to show for it. Andrew made it his goal to show his parents that he will also be successful but in his own way. He describes how as a child he has always had big dreams and has more often than not been considered crazy for even talking about it.

 

Eventually we discuss how the constant pressure of keeping up and the lack of security was making Andrew feel less than safe and his focus shifted to buying wholesale. Andrew shares the super simple formula he used for transitioning to owning rental properties - the 2-5-7 formula. Listen to the episode to get all the details on how it works. He told me how he started with just a handful of properties and then scaled it up from there.

 

We then move on to the topic of choosing the right properties to invest in. Again, Andrew shares some gold nuggets here about the exact criteria he uses to assess whether or not a property is worth investing in or not. That’s the exact system that got him from 3k a month cash flow to 100k a month cash flow.

 

We talked about the logistics of managing 260 rental properties. Andrew manages the properties in-house with just full-time managers, 1.5 rent collectors, and a team of contractors. He gives us an important reminder to never buy individual properties outside of your area, as this adds unnecessary workload.

 

Lastly, we discuss the importance of networking. Andrew shares how just studying the information just isn’t enough and how important surrounding yourself with people that are actually DOING IT has been for him - and as always I absolutely agree with his assessment. Don’t miss this episode of Just Start Real Estate that is filled with practical and incredibly actionable advice from uber-investor, Andrew Holmes!





Notable Quotes:

 

“I was born in the US but most of my life I’ve grown up in India. You don’t learn DIY in India.”

  • Andrew Holmes

 

“From a small fire, I jumped into a forest fire doing that many flips.”

  • Andrew Holmes

 

“My family found out I was flipping houses because I did it so long and had some success that I was being interviewed and my family read about me in the paper.”

  • Mike Simmons

 

“I didn’t tell my wife that I was doing this - I just didn’t want to fail.”

  • Andrew Holmes

 

“When my parents didn’t have an answer I got a whack on the head ‘Go Study.’”

  • Andrew Holmes

 

“I felt scared. Even though I made good money. I always felt scared. If I went on vacation I felt guilty and I was sick and tired of this feeling. I wanted some security in life.”

  • Andrew Holmes

 

“I tried being poor and I didn’t like it.”

  • Andrew Holmes

 

“I thought I was investing, but in fact I was just trading properties.”

  • Andrew Holmes

 

“My goal always was that one day I’m gonna make my parents proud. And I’m going to buy them something that’s going to blow their mind.”

  • Andrew Holmes

 

“I don’t have to worry about how much it costs or what it is. It’s just a small part of what real estate has helped me do.”

  • Andrew Holmes

 

“I didn’t drink, I didn’t party. I was just focused.”

  • Andrew Holmes

 

“We do what’s called 2-5-7 and that’s what I try to convince everyone to do. Cashflow for life. I tend to be very fanatical about those numbers.”

  • Andrew Holmes

 

“I keep things very simple. I’m not a very educated human being. I can understand basic things and I stick to basic things.”

  • Andrew Holmes

 

“If you take care of real estate for the first five years, real estate will take care of you for the rest of your life.”

  • Andrew Holmes

 

“I was always looking for answers. While my friends were partying, I was reading books. Reading books, all it does is give you insomnia. Because you’re excited and you don’t know what the hell to do.”

  • Andrew Holmes

 

“The more I give away, the more I get to learn.”

  • Andrew Holmes

 

“Everyone talked a good game, but no one was doing anything.”

  • Mike Simmons

 

“If you think surrounding yourself with people who are actually doing the business at a high level, that you won’t be able to exponentially increase your learning, your growth and your business - if you don’t think that’s going to happen. You’re dead wrong.”

  • Mike Simmons

 

“It wasn’t until I started going to these events and talking to people that my business was starting to explode.”

  • Mike Simmons

 

“The 2-5-7 model can be done in 98% of America.”

  • Andrew Holmes






Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Andrew's Website

Andrew’s YouTube Channel

Chicago REIA

Warren Buffett Books

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

 

Direct download: 260_Rentals_and_850_Flip_and_Wholesale_Deals_with_Andrew_Holmes.mp3
Category:general -- posted at: 3:30am EDT

For this episode, I am thrilled to welcome the President and CEO of McCormick National Holdings, Joe Mendoza. Joe has more than twenty years’ experience in the real estate and investment industry and is the host of two successful podcasts and a YouTube show. He has regularly appeared on television news and radio shows for his professional knowledge and insight. Joe is a licensed California Real Estate Broker, an Accredited Investor, a Certified Fund Manager, and also a successful Business Coach. He has a long history of success including thousands of transactions successfully closed and well over $100,000,000 in volume.

 

Joe told us that he came from a working-class background, his dad having been in the navy and his mom working in civil service. He remembers his uncle inviting him to a Robert Allen seminar when he was seventeen years old, which is where the real estate investor's dream for him began. He didn’t know exactly what to do to begin so he decided to take what college-level real estate classes he could while still in high school. The market was pretty depressed at this time and Joe decided to go to college to get his four-year degree.

 

Joe attended San Diego State University and became a stockbroker trainee when he graduated. He learned how to cold-call during this period but then the dot com bust occurred and he lost his job. Joe could only find work as a bill collector and worked in this field for four years, but in 1998 he also began working with a real estate agent to learn more about that side of real estate.

 

This led us into a conversation of where we think the housing market is headed. Joe said there were some variables in the last market turndown that are really not applicable now, such as the housing loans that were given and the excess supply of newly built houses. This leads Joe to believe any future downturn of the market will not be as severe as what we saw in 2007-8. He really believes that it depends on which side of the real estate fence you are on as to how difficult things may become, especially due to the pandemic business closures. Joe talked a lot about what he has done in his own businesses to adjust to this interesting time. 

 

I knew from my research that Joe spends a lot of time volunteering and so I asked him to describe what he does and how he gives back to others. He said that he has two teenagers and he is very active in their activities. He has been on the board of several non-profit organizations and very involved in his church community. He also spends a lot of time with mentoring and coaching other investors all over the country and also internationally. 

 

I say at the end of this interview that Joe just drops gold all over the place, so don’t miss this awesome episode of the Just Start Real Estate Podcast!







Notable Quotes:

 

“Hey Joe, if you want to be rich, get into real estate!”

  • Joe Mendoza’s Uncle

 

“All you need is to have a fire ignited.”

  • Mike Simmons

 

“When the media is telling you to do something so emphatically, it is counter-intuitive to do the opposite, but that is where a lot of money is made.”

  • Mike Simmons

 

“If you own a business and have employees counting on you, it is your responsibility to understand the market and make sure you are poised to be in a good position when things change.”

  • Mike Simmons

 

“I love to give back through coaching and mentorship and see people succeed.”

  • Joe Mendoza

 

“I have some investors that I am coaching now that could pull the plug and be financially free.”

  • Joe Mendoza

 

“Know your numbers. Know your formula.”

  • Joe Mendoza

 

“This is not a solo sport, it is a team sport.”

  • Joe Mendoza

 

“I want to add value. I am a firm believer in pay it forward.”

  • Joe Mendoza

 

“You just dropped a ton of gold all over the place.”

  • Mike Simmons






Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Joe’s Website

Joe's YouTube Channel

Joe on Instagram

Joe on Facebook

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter


For this episode, I welcome fellow 7 Figure Flipping Mastermind members, Luc & Jess Boiron. Jess and Luc are a real estate investing couple from Toronto, Canada, and both are lawyers who also hold MBAs. Luc had been investing in RE since 2007 on a small scale, and in 2016, Jess and Luc founded Bliss Realty Inc. to flip houses. Since then, they completed over $50m in real estate deals before turning 30 and their business has grown to be the largest wholesaler in Canada operating in Toronto, Ottawa, and Montreal with 16 employees. In addition, they are growing their rental portfolio with a mix of short term rentals and small multi-family properties in Ontario.

 

Luc started by sharing how he and Jess met. They were both in an exclusive dual law/MBA program and because they completed so much education, they feel like they started their adult working life later than a lot of people. Luc’s dad was a commercial real estate agent and owned some commercial properties, so he grew up learning about mortgages and other real estate topics. He bought his first rental property when he was just starting his undergraduate degree in Toronto and talked about how many lessons he learned from it. He continued to buy and sell properties throughout the time he was in school, and then worked as a lawyer for a year after graduating. He said he was too entrepreneurial to be a good fit at many law firms, but conversely, Jess worked at the best firm in Toronto for seven years after graduating. Jess said she loved practicing and was slower to move into the real estate investing side, but finding out that she was pregnant really made up her mind.

 

Luc and Jess tell a great story of how their business plans were initially foiled by an accident that Luc had. He was originally planning to move to California to start flipping houses because his brother lived there and was going to fund Luc’s work. Right before he was supposed to leave, he had an accident and surgery, and was, therefore, unable to travel and did his law internship instead in Toronto. Another sibling of Luc’s helped him find some properties near where they were living and they began flipping houses in Canada, which they didn’t even believe was possible before they tried.

 

Because of privacy laws in Canada, you can’t pull lists at all to find deals, so we talked about how they were able to find deals privately. Luc talked about how they were able to target potential buyers through Google Ads without violating privacy laws. They have also incorporated other marketing techniques including scouting run-down neighborhoods and doing every-door direct mail to those property owners. Luc shared their average buy and sell prices in their area, as well, demonstrating the wide range of their market.

 

Since at the time of this recording Luc and Jess were about to give birth to their first baby, I asked what role they would both be playing in the business as they juggled that with being parents. Jess gave us a lot of insight into their personalities and how they had decided to structure their growing business to accommodate working harmoniously together while having their own autonomy. I asked how they are able to separate business from their personal lives and they both said it is sometimes a challenge because they are both so passionate about what they do. They said as they become parents, they may have to find ways to draw a firm line in the sand for when they stop working each day.

 

When I asked them to give us a snapshot of where their business was just before they joined 7 Figure Flipping, Luc told us that they had figured out flipping and wholesaling in their unique circumstances, but they didn’t really know how to build a team. He goes into great detail on how they managed to build their team and grow their business, with support from the mastermind group. In about a year, they grew from three full-time employees to sixteen full-time employees, they have expanded to three different markets, and have moved from doing two deals a month to at least that in a week.

 

We talked about hiring, company culture, incentive structures, using personality profiles, managing the different motivators of their team members, risk tolerance, transitioning from flipping to wholesaling, and so much more! This is a fun, practical advice-packed episode with an investor couple team that is just killing it, so don’t miss this interview with Luc and Jess Boiron on Just Start Real Estate!







Notable Quotes:

 

“We were eternal students before we started getting into real estate, having both done nine years of post-secondary education.”

  • Jess Boiron

 

“With real estate, time heals all wounds.”

  • Luc Boiron

 

“I went into law hoping to make good money so that I could qualify for mortgages in order to buy real estate, which is not necessarily good motivation to become a lawyer.”

  • Luc Boiron

 

“The fact that you are both all-in on the business is huge.”

  • Mike Simmons

 

“We are now managing our expectations and how we want to work with our team and where we draw that line.”

  • Jess Boiron

 

 “You know that is insane growth, right?”

  • Mike Simmons

 

“It is really once an employee is on the job that you really monitor them and make sure that if you have the right person, you pour a lot into them and help them grow and take ownership of their role.”

  • Jess Boiron

 

“We have had really great employees that do take ownership and so the new people we bring on just feed off of that.”

  •  Jess Boiron

 

“I want our lead managers to understand that we help people.”

  • Luc Boiron

 

“I think that there is a lot of skill, diligence, and intuition that goes into hiring, but there is a certain amount of luck.”

  • Mike Simmons

 

“You guys have built a team now where there is positive peer pressure for ownership and caring about the company.”

  • Mike Simmons

 

“It is uncomfortable to be a bad employee in a group of good employees.”

  • Mike Simmons

 

“We tell people all the time that you really need to care about the problems of the homeowners and you can’t just care because it is going to get you to that money that you want. Just pretending to care is very transparent.”

  • Mike Simmons

 

“It was really a transition to wholesaling out of need.”

  •  Jess Boiron







Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Luc and Jess on Instagram

Luc and Jess on Facebook

Luc and Jess on YouTube 

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Direct download: Rapidly_Scaling_and_High_Volume_Wholesalers_in_Canada.mp3
Category:general -- posted at: 3:30am EDT

For this episode, I am excited to have Dan Rochon on the show. As a real estate sales agent, Dan and his team are consistently top producers in their marketplace. Through their investment company, Dan and Traci Rochon have been investing in residential and commercial real estate for more than a decade. Dan‘s purpose in life is to help people achieve greatness through his teaching, coaching, and mentorship. He leads the Greetings Virginia Sales Network for his agents and staff to exceed their client‘s expectations. Additionally, Dan is the author of Real Estate Evolution: The Ten Step Guide to C.P.I. (Consistent and Predictable Income) for Real Estate Agents.

 

We started, as we usually do, diving into Dan’s background and how he got into real estate investing. Dan said in 2005 he was working as a waiter in Washington DC, living a very unhealthy lifestyle and he realized he needed to make a change. He knew that he wanted to be a business owner and found that getting his agent’s license and opening an agency required less capital than the franchises he was considering. He started selling in late 2007, which of course we all know was an incredibly difficult time to be starting in this industry. He ended up buying the brokerage about a year and a half after getting his sales license, which he ran for about ten years.

 

Dan has a ton going on with his business so I wanted to explore some of that. I asked him first to talk about his book Real Estate Evolution. Dan said that one of his mentors asked him to document everything he had learned by being in business, with real estate sales, and personal development. He ended up working every day for thirteen months on this project and found that he had written a book at the end of it. He said that about a third of it is on the subject of personal development so that people can unlock their potential.

 

Dan talked about changing our thoughts and programming by looking at how we are spending our time, what we are reading, our relationships, and how we are taking care of our health. We discussed a couple of techniques for motivating ourselves, getting a better start to the day, and creating new, positive habits. Dan also talked about the power of our subconscious mind and taking a look at what we dream to see what kinds of thoughts that part of our brain is feeding back to us. Recurring negative, limiting thoughts can hinder our growth.

 

We then discussed some of the specific advice Dan gives real estate agents to help them be more successful. He said that comparatively it is fairly easy to become an agent so a lot of them do not study the industry or take it seriously enough. One of the things that has helped him in dealing with his clients is to let them know all of the possible outcomes of the process, so that everyone is aware and prepared for possible set-backs or eventualities. Dan also pointed out some ways to read behavior and listen from another’s point of view to be more effective with clients or other agents.

 

We talked about using personality assessments, tactics of hiring and working with clients, clarifying what our “why” is, and so much more! Don’t miss today’s episode with Dan Rochon on the Just Start Real Estate Podcast!

 






Notable Quotes:

 

“You could spit and have a 33% chance of hitting a house that needed your services.”

  • Dan Rochon

 

“When everyone is running away, you know there is some opportunity there.”

  • Mike Simmons

 

“As a business owner, stacking cash, being liquid, and preparing for a downturn in the market is the smartest thing you can do.”

  • Mike Simmons

 

“What did I do to cause the outcome and what could I do differently moving forward to cause a better outcome if it was a mistake. And if it was something that was successful, what did I do to cause that outcome and how can I put it on steroids, how can I amplify it?”

  • Dan Rochon

 

“I can tell you one variable that is constant with people who struggle and never feel like they are getting what they want - they are always pointing at other people and blaming them for their problems.”

  • Mike Simmons

 

“It is my firm belief that the first step to any kind of sales training should be how do you become the best possible version of yourself.”

  • Dan Rochon

 

“Has there ever been a time when I saw someone else embrace affirmations and have a fantastic result as an outcome?”

  • Dan Rochon

 

“If yes, then how?”

  • Dan Rochon

 

“Listening to motivational speeches, people really talking from the heart about what it takes to succeed, is super, super effective for me. It starts my day with a much more positive, energetic, get out there and crush it kind of attitude.”

  • Mike Simmons

 

“A lot of the time, if we think something bad has happened, it is a reflection of something we are afraid of.”

  • Dan Rochon

 

“Embrace the fear - on the other side is glory.”

  • Dan Rochon

 

“Many agents are not following the right systems to create a predictable outcome.”

  • Dan Rochon

 

“A lot of the time, agents don’t understand how to utilize the proper systems or processes to be able to serve the client at a higher level.”

  • Dan Rochon

 

“It is really just about having the ability to pay attention.”

  • Dan Rochon

 

“Understand and have clarity on why you are doing what you’re doing.”

  • Dan Rochon

 

“My big why is to open up doorways for others.”

  • Dan Rochon







Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Extreme Ownership

Real Estate Evolution: The Ten Step Guide to C.P.I. (Consistent and Predictable Income) for Real Estate Agents

The CPI Community

Dan’s Website

Dan’s Podcast

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Direct download: Consistant_and_Predictable_Income_with_Dan_Rochon.mp3
Category:general -- posted at: 3:30am EDT

For this episode, I am excited to welcome Stephanie Cabral, who is a buy-and-hold real estate investor and former attorney from Connecticut. Stephanie has built a portfolio over $2.25m and began investing while working at a law firm as the sole member of the probate department and also working as one of the top commercial real estate firms in the world. Stephanie now owns and operates 15 units plus multiple active flips and is responsible for all aspects of the business including marketing, acquisition, construction management, operations, and property management. She specializes in the BRRRR strategy and was able to scale her business using a detailed network of systems, standard operating procedures, automation, and virtual assistants.

 

Stephanie shares her background with us, pointing out that she is a lawyer by trade. While she loved and thrived in law school, once she got out, she found that she didn’t love practicing as a lawyer. As much as she appreciated her clients, she did not like how adversarial the work was and didn’t like being in an office all day. She ended up buying a duplex in order to use the rental income to qualify for a personal home loan and she fell in love with the idea of house-hacking. She worked as an agent, too, while she was working as a lawyer and continues to since retiring from her firm in December 2019.

 

Stephanie got a 203K loan for her first property so we explored that topic for a bit. Because the brokers are looking at the ARV, you can get a larger value loan to cover both the purchase price and the rehab estimate. In this type of loan, the contractor gets paid directly from the lender. Also, the 203K loan does not require you to have experience in investing and rehabilitation work, which can be a huge obstacle for newer investors with traditional hard money lenders. You also get a consultant that helps you manage the project and ensure the quality of the contractors’ work.

 

I asked Stephanie to describe the team of people she is working with to us. She said she is very involved herself, but her right hand is a virtual assistant in the Philippines who handles all of the administrative tasks, including social media and a lot of the property management tasks, including interfacing with the tenants. Stephanie also has a leasing assistant who directly connects with potential tenants and shows them around and screens them for rentability. She also has a bookkeeper who she hired through Upwork that has been working with her for years, but Stephanie did talk about the need to go through the trial and error process to find some people that are really good. Stephanie talked about the need to have great systems and processes in place, including training videos and templates, in order to simplify the training procedure.

I asked Stephanie why she self-manages her properties versus hiring a property management company. She said that it is financially beneficial for her to self-manage, mostly because she has very little turnover in tenants. She attributes this to the constant communication she has with her tenants, which is largely automated, but maintains a great connection. I asked how she handles any required repairs, and since she is having a VA handle the maintenance requests, how she is sure she is not getting over-charged. Stephanie explained that because she also does house flipping, she has a pool of contractors, and in particular, a go-to handyman who is always the first maintenance call.

 

We talked about mid-term rentals, the effects of COVID on Stephanie’s business, the BRRRR strategy, private money versus hard money lenders, the technology Stephanie uses to run her business, Facebook ads, and so much more! Don’t miss this honest, fun, and hard-core real estate episode with lawyer-turned-investor, Stephanie Cabral!






Notable Quotes:

 

“Being in an office environment was not the life I wanted to live.”

  • Stephanie Cabral

 

“What was one of the greatest frustrations at the time ended up being the greatest gift.”

  • Stephanie Cabral

 

“I didn’t even know that I was investing - I thought I was living cheaply and being resourceful.”

  • Stephanie Cabral

 

“Being resourceful is certainly one of my superpowers.”

  • Stephanie Cabral

 

“The power of real estate as an investment really opened up for me.”

  • Stephanie Cabral

 

“So the way you eat an elephant is one bite at a time.”

  • Desmond Tutu, quoted by Stephanie Cabral

 

“It requires some administrative stamina to get through the paperwork for a 203K loan.”

  • Stephanie Cabral

 

“I do make it a priority to automate and delegate as much as humanly possible.”

  • Stephanie Cabral

 

“Find somebody with a natural skill set that you are looking for and then you train the rest.”

  • Stephanie Cabral
  •  

“As far as delegating work, start with the task that is most repetitive that is causing the most brain damage.”

  • Stephanie Cabral

 

“Put yourself out there so people know what you are doing and that you are involved.”

  • Stephanie Cabral

 

“I have been raising private money since 2008 and I think ‘talk about what you are doing’ is the number one advice.”

  • Mike Simmons

 

“If you ask for money, you are going to get advice. If you ask for advice, you will get money.”

  • Mike Simmons

 

“I’m tech heavy, but not tech savvy.”

  • Stephanie Cabral

 

“The concept of ‘Just Start’ is so important. You don’t have to be super knowledgeable, but you have to be action-oriented.”

  • Stephanie Cabral






Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Upwork

CoreAssist

Podio

PayYourRent

Google Drive

SoapBox

Docusign

Fiverr

Stephanie’s Website

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter



Direct download: 203k_Loans_and_Using_the_BRRRR_Method_for_Rental_Real_Estate.mp3
Category:general -- posted at: 3:30am EDT

For this episode, I am happy to welcome Rachel Richards on to the show! Only 27 years old, former financial advisor Rachel Richards has made a name for herself in the personal finance realm. In 2019, Rachel quit her job and retired, with over $10,000 per month in passive income! She is the bestselling author of Money Honey and Passive Income, Aggressive Retirement. Rachel is also a real estate investor with 35 rental units. Her valuable money lessons have helped thousands of millennials work their way out of financial despair. She has successfully done what no one has done before: made the topic of money management fun, entertaining, and simple!

 

Rachel gave us a bit of her background, telling us that she paid her way through school by selling Cutco Cutlery and therefore, had sales experience. This, coupled with her passion for teaching people about finances, is what led her to become a financial advisor. She said she didn’t last long because she wasn’t a fan of cold-calling people for clients. She had always been interested in real estate investing and had read a ton about it, so she worked for a time with another investor, and then a real estate agent. These experiences gave her the confidence to get into investing on her own and in 2017, Rachel and her husband bought their first duplex when she was 24 years old.

 

I asked Rachel to give us the details of her first deal - how she found it and how she financed it. Because she had her real estate license by this time, she said she had an advantage, because she had access to the MLS. She found the property she wanted, but the listing was expired, so she contacted the agent and found out that the owners were going to list it again once they had done some work to it. Because Rachel stayed in contact with the agent, she called Rachel a couple of days before it was listed again and gave her the chance to make an offer. They financed it conventionally, having both saved money after college for the down payment, and they managed to get a seller concession for the renovation that they had to do.

 

Rachel started writing her books while she was still working full-time and managing their rental properties, so we talked about how that came about for a bit. She said her family and friends had been asking her for financial advice for a while and she wanted to take this topic, which was normally boring and confusing, and make it fun and simple for people to understand. She said it felt like her first book, Money Honey, was always inside of her and she tried to make finances easier to learn about by sharing her own stories and mistakes. We also discussed Rachel’s second book, Passive Income, Aggressive Retirement, in which she discusses twenty-eight different passive income models that anyone can get involved with, regardless of age or station in life.

 

I asked Rachel to describe how she proceeded with her investing as she moved forward from the first deal. She shared with us that the different ways having her real estate license benefited her. She continued to monitor the MLS for potential deals, using subscriptions and saved searches so that she would get email notifications for properties she was interested in. She felt like this gave her a real time advantage, as she could be at a property within 30 minutes of it being listed. 

 

Even though Rachel and her husband are no longer actively investing because they have the rental income they wanted to achieve, Rachel is still very passionate about teaching others about financial literacy so she is invested in creating online courses. The first one that she has created is called “Get Your Financial $hit Together” which you can check out by following the links below.

 

Join me as I interview this incredibly impressive investor and financial guru as she shares some of the secrets of how she earned financial independence! Don’t miss today’s episode with Rachel Richards on the Just Start Real Estate Podcast!

 






Notable Quotes:

 

“To me, real estate is one of the best tools for building long-term wealth. From an early age, I knew that this was going to be my path to financial independence.”

  • Rachel Richards

 

“From a very early age, I tried to save 50% of my income.”

  • Rachel Richards

 

“Just get creative… there are ways you can do this.”

  • Mike Simmons

 

“The last thing you want to do is operate from a place of panic and desperation.”

  • Rachel Richards

 

“I just try not to take myself too seriously.”

  • Rachel Richards

 

“I am not afraid to admit when I am making mistakes and doing embarrassing things.”

  • Rachel Richards

 

“Having my real estate license was brilliant because I was the buyer’s agent on all of our deals and would get a significant check at closing, which helped us continue investing.”

  • Rachel Richards

 

“There are some things you can’t be cheap with, like property management.”

  • Rachel Richards

 

“Hopefully someone will learn from my mistakes.”

  • Rachel Richards

 

 “For us, real estate investing is a means to an end.”

  • Rachel Richards

 

“The way I define passive income is that it is money that is earned with little or no ongoing effort.”

  • Rachel Richards







Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Rich Dad Poor Dad

Money Honey: A Simple 7-Step Guide For Getting Your Financial $hit Together

Passive Income, Aggressive Retirement: The Secret to Freedom, Flexibility, and Financial Independence (& how to get started!)

Get Your Financial $hit Together

Rachel’s Website

7 Figure Flipping

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter



Direct download: How_to_Gain_Financial_Freedom_and_Retire_in_Your_20s.mp3
Category:general -- posted at: 3:30am EDT

For this episode, I am excited to welcome fellow 7 Figure Flipping Mastermind group member, Waylon McCulloch. Waylon started his career as a professional dirtbike racer, but after too many injuries moved on to running used car dealerships for the last 15 years. He is now the owner of Discount Realty, a real estate wholesale company located in San Antonio, TX. Along with building and growing his wholesale company that was started 2 1/2 years ago, he owns a couple of other real estate companies that invest in single-family home rentals and owner-financed sales, while running his family's used car dealerships full-time.

 

We started by exploring Waylon’s background and how real estate investing got onto his radar. When his grandfather moved into an assisted living facility in 2015, Waylon and his dad purchased his house as a means to get started in the business. They purchased a couple of other properties the same year and held them as rentals, but their business stalled until Waylon got very invested in lead generation.

 

After joining 7 Figure Flipping in April of 2018, Waylon dedicated his time to learning about and growing a wholesaling business. He spent the remainder of that year building out systems and getting things set up. In 2019, they ended up with 18 deals under contract, hired both a lead manager and an acquisitions/dispositions manager, and are hoping to hire a transaction coordinator. We discussed the importance of having certain team members in place in order to maximize your business’ potential, especially if you are still working a full-time job like Waylon.

 

Waylon expressed an interest in doing more owner-financed deals and so we spent some time exploring this topic, especially how these types of deals may increase due to the pandemic. We talked about how this conversation would go and what type of homeowner would benefit from this arrangement.

 

Since Waylon has been a member of 7 Figure Flipping for over two years, I asked him what his takeaway is from the group. He said he was so glad that he made the commitment and has met some great people. Waylon said he wasn’t sure he would be where he is today if it weren’t for involvement in this mastermind.

 

We discussed marketing strategies, working virtually, growing your staff, wholesaling versus flipping, and so much more! Please join me as I welcome Waylon McCulloch to the Just Start Real Estate Family!





Notable Quotes:



“Real estate is dangerous in different ways than dirt bike racing, but safer physically.”

  • Mike Simmons

 

“I decided I was either going to make or break it.”

  • Waylon McCulloch

 

“Having someone to focus on answering all the calls and doing the follow-up made my life a whole lot better.”

  • Waylon McCulloch

 

“The wholesaling business sure does take a lot of work to get it up and going.”

  • Waylon McCulloch

 

“I think the biggest misconception in residential real estate is that wholesaling is easy.”

  • Mike Simmons

 

“You need someone in-house that is really pushing your deals through the title company.”

  • Mike Simmons

 

“If you don’t have that in your tool bag, you are missing out.”

  • Waylon McCulloch

 

“COVID had a big impact on my direct mail.”

  • Waylon McCulloch

 

“Direct mail does bring in deals as long as you are being consistent with it and mailing enough.”

  • Waylon McCulloch

 

“You need to deep dive and figure out what you are good at.”

  • Waylon McCulloch

 

“[On wholesaling] I like the idea of being able to control the deals and get to pick when I have the funds to buy another one.”

  • Waylon McCulloch

 

“I like speed a lot more than watching a rehab project from start to finish.”

  • Mike Simmons

 

“Some people live for the transformation of flipping, but I can live without it.”

  • Mike Simmons

 

“I like working on the back-end with buyers and being able to get them something because there are a lot of people that need the deal-flow right now.”

  • Waylon McCulloch

 

“You can definitely feel like you are on an island in this business so it is nice to connect with people who are on the same journey.”

  • Waylon McCulloch about the 7 Figure Flipping Mastermind

 

“Imagine how great it would be if you had made all of your life decisions with the benefit of hindsight.”

  • Mike Simmons about the 7 Figure Flipping Mastermind








Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

7 Figure Flipping

Discount Realty

Dale’s Motor Co. & Bartlett Motors

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Direct download: Car_Dealership_Owner_Wholesaling_40_Deals_Houses_This_Year.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I’m joined by Kirby Atwell, host of the popular podcast, Living off Rentals. After serving as an officer in the US Army from 2005 – 2011, Kirby left the military to

pursue his passion as a full-time entrepreneur, launching and scaling two different real

estate investment companies in succession. Kirby holds a BA from United States Military Academy at West Point, and an MBA in real estate finance from the University of Illinois Chicago. While in the military, Kirby served as a Platoon Leader, Executive Officer, Aide-de-Camp to the Commanding General of the 94th AAMDC, and Commander of the AN/TPY-2 homeland defense radar site in Shariki, Japan.

 

Kirby shared more of his background with us, telling us that he had always had an entrepreneurial itch, and planned to have his own business after serving in the Army. A year after he graduated, he read Rich Dad Poor Dad and knew that he would be a real estate investor for life. When he was stationed in El Paso in 2006, the house across the street went up for sale and he decided to buy his first investment property. Once he was out of the Army, he partnered with a friend and his wife and they started flipping houses in the Chicago area.

 

Kirby talked about how they grew their business so that, at its height in 2015, they had thirteen team members and around twenty-two deals going every month. What he found, though, was that everyone else kept getting paid, but he wasn’t achieving his goal of building monthly passive income to have eventual financial freedom. He ended up changing his strategy in 2016, sold his flipping business to his partners, and started focusing mostly on investing with the BRRRR strategy. He found a government program called the HUD VASH Voucher, which provides housing for homeless veterans and built a new business around this niche. 

 

I asked Kirby to explain the BRRRR strategy to our listeners with the assumption that we hadn’t used it before. I particularly wanted him to explain how the refinance aspect of this strategy works. He said he struck a deal with a local bank where they would package four properties together and they would give him a commercial loan for 75% of the appraised value. Kirby said that strategy was very effective, but now that the demand for the VASH vouchers has gone down, he is using the same system for short term rentals in the northwest Indiana area.

 

Kirby explained why he is buying homes in Indiana, telling us how it is almost as though Chicago and the state of Illinois is incentivizing people to move away because of property taxes and other factors. In the area he is investing in, there are several attractions, including Lake Michigan, and it is a great area to have short term rentals. He said that he and his wife are doing the property management themselves for these houses.

 

I then asked Kirby to talk about the non-profit work that he is involved in. Kirby said the organization is called Bunker Labs and it helps veterans start and grow businesses. He said initially when he got out of the military, he wanted his civilian identity back and was not involved at all with other veterans. But in 2014, he was in the first cohort to go through the program and was so impressed with the founder and the resources he was bringing in to help people. When he switched his investing model to rentals, he found that he had more available time, and the Bunker Labs founder asked him to come on as the COO. He later transitioned to being the CFO, and they have thirty-six chapters across the United States.

 

We talked about marketing, lead generation, Facebook ads, helping people, and so much more! Don’t miss this transparent, info-packed episode of the Just Start Real Estate Podcast with Kirby Atwell!




Notable Quotes:

 

“I really enjoy talking to successful, smart people, but I love talking to good people who are also successful and smart.”

 

  • Mike Simmons

 

 

“The harder she worked, the more money she made.”

 

  • Kirby Atwell about his mom’s business

 

 

“I was really attracted to the buy-and-hold model, but I had to flip initially to get money to buy more houses.”

 

  • Kirby Atwell

 

 

 “We jumped on the flipping treadmill, this perpetual machine that you keep feeding.”

 

  • Kirby Atwell

 

 

“We were just driving the machine, but not creating what I got into investing for, which was financial freedom.”

 

  • Kirby Atwell

 

 

“Scaling isn’t for everyone. It sounds like you built this monster that just needed to eat.”

 

  • Mike Simmons

 

 

“This is really where you have to figure out who you are as a person.”

 

  • Kirby Atwell

 

“I am all about freedom.”

 

  • Kirby Atwell

 

 

“The dream is to have free time and have a lifestyle.”

 

  • Mike Simmons

 

 

“I was doing what looked like success on social media.”

 

  • Kirby Atwell

 

 

“Do what you want to do, but ultimately, don’t be afraid to change if you aren’t happy.”

 

  • Mike Simmons

 

 

 “We only get one shot at this, so let’s make it a good one.”

 

  • Mike Simmons

 

 

“Doing good things for people and help the world a little bit and make it a little better is about all we can do.”

 

  • Mike Simmons

 







Links:

Flip Hacking Live

Rich Dad Poor Dad

iCandy Homes

Bunker Labs

Green Vet Homes.com

HUD VASH Voucher 

Living Off Rentals Podcast

Kirby's YouTube Channel

Kirby’s YouTube Video on Google Drive Organization

Mike’s Interview on Living Off Rentals

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months




In this episode, I am excited to welcome on fellow 7 Figure Flipping member, William Morgan. Will is the owner and founder of Penny Lane Equity, a rapidly growing Real Estate flipping and wholesaling company in California’s Central Coast. Will grew what was once a hobby into a thriving business with 7 figure revenue while also having a full-time job. Will has since “cut the cord” and now leads a team of 10 talented professionals as they provide some of the most attractive Real Estate opportunities found anywhere in the region. Once an adrenaline junkie, Will now tempers his thrill-seeking by sharing his love for surfing, the mountains, and travel with his 2 young kids.

 

We got started as we normally do with Will sharing his background with us and how he got into real estate. He began his corporate career working in the nuclear power industry at the age of eighteen. He worked short contracts in this business and then would take the money he earned to travel and surf. After living this ideal lifestyle for about ten years, he figured he had to grow up, and took on a full-time job in nuclear operations. Real estate got on his radar when a neighbor bought a house through a sheriff’s auction and rehabbed that Will ended up buying in 2003 for his primary residence. Will was fascinated by the whole process and that propelled him into learning about investing on his own.

 

Will did a lot of research on how to find his first investment property and ended up buying his first in 2004 using conventional financing. The guy he bought his primary residence from turned out to be a mentor in the fix and flip process, helping Will to avoid a lot of rookie mistakes. I asked some questions about this deal and Will shared details about the rehab work and how the numbers worked out.

 

Will said he approached real estate investing as a hobby because he had a full-time job, so he was happy with picking up one or two properties a year. He was also investing in other ways with stocks and bonds, always studying and learning about different passive income models. Because he had a sense that real estate was part of the impending market disruption, he sold all five of his rentals and his primary residence in 2007. 

 

I asked Will about what systems and processes he had in place in the very beginning of his investing business. He said he didn’t initially, but having very little profit margin in his first deal made it necessary to establish when he started getting back into real estate investing around 2012. He said documenting his work processes was really out of necessity because he had a full-time job and knew there were times he was going to need help, and also to maximize his efficiency

 

I wanted Will to tell me what he thought were some of the biggest challenges to trying to scale a business while having a full-time job. He said time was his obstacle, as you have to grow the business in what would normally be your spare time, so you have to schedule time to do this. It may take away from sleep, or leisure time, or family time, but he prioritized the sacrifice. He found that because he was drawing a regular salary, it freed up the investment income to hire help to manage everything. We discussed the details of how Will scaled up responsibly.

 

Because we met through the 7 Figure Flipping Mastermind group, I wanted Will to talk about how he thought this has affected his business. Very much like me, he said he was very skeptical initially, having never paid for training of any kind. He said he cannot believe how valuable it is to have the ability to call or text, at any time, other investors in order to shorten the learning curve and avoid mistakes

 

We talked about marketing, the specifics of making offers, how Will’s team divides up responsibilities, the impact of the pandemic on his business,  and so much more! Join me and Will as we discuss the in and outs of real estate investing in the latest episode of Just Start Real Estate!






Notable Quotes:

 

“I like to call myself a genius because I sold my real estate investments in 2007, but there was definitely some luck involved.”

 

  • William Morgan

 

 

“Some people make their own luck by being on top of things and having their ear to the ground.”

 

  • Mike Simmons

 

 

“Systems and processes were a way to communicate with my team without being there.”

 

  • William Morgan

 

 

“You have to make room in your life to scale a business.”

 

  • William Morgan

 

 

“The idea is to learn from your mistakes and improve.”

 

  • William Morgan

 

 

“Team members have to be a core-value fit.”

 

  • William Morgan

 

 

“If you want to do something well, you have to have rules to guide you.”

 

  • William Morgan

 

 

“You have to recognize value.”

 

  • William Morgan

 

 

“We want to be the source for distressed properties in our area.”

 

  • William Morgan

 

 

“To have access to other people who are running successful businesses at the level you want to be is invaluable.”

 

  • William Morgan about the 7 Figure Flipping Mastermind

 

 

“It is like buying speed and hindsight.”

 

  • Mike Simmons about the 7 Figure Flipping Mastermind

 





 



Links:

Flip Hacking Live

7 Figure Flipping

Penny Lane Equity

Will’s Email

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Direct download: Creating_a_7_Figure_Business_while_Working_a_Full-Time_Job.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I am pleased to welcome Sean Morrissey to the show. Sean began as a buy and hold real estate investor in 2003 with a two-bedroom condo in Hanover Park, IL. Having earned his Illinois real estate broker license in 2007, Sean survived the market crash and assisted homeowners throughout the Chicagoland area and opened Chicagoland Realty Group Partners LLC in 2011. Since that time, Sean has managed over 700+ rental transactions, 200+ homes, and owns and manages his own rental property portfolio in the western suburbs of the Chicagoland area. Sean focuses the majority of his time in growing and managing his real estate portfolio while hosting a podcast named Landlording for Life.

 

I am always so interested in how and why people get into real estate investing, so Sean started by sharing his background with us. He said he graduated from Purdue University with a BA in Restaurant Management and joined the Peace Corps where he worked in Western Kenya. When he returned home and began working in restaurant management, his dad introduced him to a book about using real estate investments as tax shelters. Sean started joining REIAs to talk to investors and landlords, and bought his first investment property in June of 2003 in the Chicagoland area.

 

I asked Sean to explain his experience with the Peace Corps and what led him to choose that before starting his corporate work life. He said he was involved in a student exchange program in college which got him interested in international travel and helping others. He was stationed in western Kenya at a technical college helping students work with computers and doing many community outreach projects. Sean said it was an awesome experience and he would love to go back someday soon.

 

I wanted Sean to explain what led him to get his broker’s license and what he considers the advantages are to do so for a real estate investor. His thought process was that he would have access to the MLS and more deals, and be a better investor. Sean said it made a lot of sense to pursue his license at that time because there was no Zillow or Redfin, which has made a lot of the property information public now. Until 2009, he was still working full-time in the restaurant business, so working more as a realtor initially helped him to figure out how he was going to transition to real estate investing full-time.

 

As Sean has had his own property management company in the past, we talked quite a bit about common mistakes made by investors when managing their own properties, size of portfolios, and why he sold his company. Sean’s opinion is that a newer investor should manage their own properties until they get over ten doors in their portfolio so that they understand the rigors of the job and learn from any mistakes made. He also talked a lot about what their criteria was for screening tenants, which is very helpful for those landlords who self-manage. 

 

I asked Sean to explain why he has shifted toward an investor-centered model, rather than focusing on his brokerage work or continuing in the property management field. He went into great detail about the several ways you can benefit financially from buy and hold investing versus other types, and also the time and work investment of each. 

 

Sean shares some of his struggles as a landlord, specifics about his business dealings, property management tactics, and so much more! You will not want to miss this fantastic, value-filled episode of the Just Start Real Estate Podcast!





Notable Quotes:

 

“Ultimately, it is through the experiences where you get burned that you learn the most.”

 

  • Sean Morrissey

 

 

“I’m more of a lifestyle-focused guy these days.”

 

  • Sean Morrissey

 

 

“If you are not re-creating your business systems every five years, you are going to fall behind.”

 

  • Sean Morrissey

 

 

“The use of virtual assistants is very scalable.”

 

  • Sean Morrissey

 

 

“At the end of the day, you get what you pay for.”

 

  • Sean Morrissey

 

 

“Investors with small portfolios need to put aside money for capital expenditures.”

 

  • Sean Morrissey

 

 

“Keep up with your repairs.”

 

  • Sean Morrissey

 

 

“All I heard is that I am right.”

 

  • Mike Simmons

 

 

“If you can see the bigger picture of how you are building passive income, you can build generational wealth through buy and hold investing.”

 

  • Sean Morrissey

 





Links:

Flip Hacking Live

Landlording for Life Podcast

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months


This is going to be kind of a different episode today as I present my recent interview with my friend, Danny Johnson, on his show, the Flipping Junkie Podcast. Danny wanted to have me on specifically to talk about Flip Hacking Live and what attendees of this event could expect. In the interview, I share my own experiences with being involved with this event and the benefits of making the investment to attend, namely, how to move the needle in your real estate investing business.

 

Danny started off by asking me to share my background and how I got into the real estate investing business. I stressed how vital it was for my business and personal growth to join the 7 Figure Flipping Mastermind group. The same year I joined, they decided to start holding an annual event, utilizing some of their most successful members as speakers in order to help real estate investors grow their businesses. I really want people to understand that these investors have nothing to sell and are giving the participants the “meat and potatoes” of their strategies without having to pay for anything beyond the cost of admission.

 

The speakers at Flip Hacking live cover subjects such as how to talk to sellers, how to find deals, different types of creative financing, marketing ideas that really help people set themselves apart, running a business remotely, and so much more. All of the concepts presented can be applied to a person’s individual situation and business no matter what scale they are at or what their goals are.

 

I have talked to dozens of investors and most everyone feels that we are headed into some kind of a dip in the housing market, most likely moving into more of a buyer’s market. My presentation at this years Flip Hacking Live is titled, “What I Wish Someone Would Have Told Me During the Last Downturn,” and I am going to speak about all of the things I wish I would have known when I started in this business during the last difficult housing market.

 

Flip Hacking Live is not an ordinary three-day webinar. There are going to be breakout sessions, one-on-one coaching, networking sessions, so it is going to be very interactive. The majority of the speakers are pure real estate investors, but we will also have some big-name, keynote speakers that are incredibly motivational and inspire us to be better people.

 

This is the first time that we have held Flip Hacking Live as a virtual event and I wanted to talk about all benefits of doing it this way. First of all, you aren’t going to be worrying about being in a big group, shaking hands, and being less than social distanced from other participants. You don’t need to pay for plane tickets, a hotel room for several days, or restaurant meals, so there is a significant cost saving there. You can sit in your office or at home and completely immerse yourself in the experience. I promise you we will not expect you to sit and listen to speaker after speaker as there will be different sessions and it will be super interactive. Again, this is not a standard webinar. The speakers are all flying to a location and will be on stage during their presentations so it is going to be as Flip Hacking Live-like as possible!

 

 In the spirit of my talk this year, if I could go back and tell my younger self one thing, it would be “Make the investment and go to Flip Hacking Live!” I hope everyone listening will join us this year on October 15th, 16th, and 17th! We are offering access to all of the past event talks when you get your ticket by visiting FlipHackingLive.com, promo code, Danny!





Notable Quotes:

 

“It was just horsepower getting me through deals.”

 

  • Mike Simmons

 

 

“I was really stumped on how to scale beyond where I was so I finally broke down and joined a mastermind group.”

 

  • Mike Simmons

 

 

“When you surround yourself with people who have moved beyond your thinking and have done bigger and better things, it opens your mind to what you didn’t know and what you could be doing in your business to get better.”

 

  • Mike Simmons

 

 

“Wherever you are, you can get better.”

 

  • Mike Simmons

 

 

“Why don’t we take some of our most successful members, put them on stage, and have them lay out, from end to end, specifically what they are doing in their business that is working for them?”

 

  • Mike Simmons

 

 

“The speakers are just there to give you the playbook for what they do best.”

 

  • Mike Simmons

 

 

“When you are around people that have a giving spirit, like people in the 7 Figure Flipping  organization, it is amazing what you can take away from an event like this.”

 

  • Mike Simmons

 

 

“Because the mastermind did so much for me, I felt like I wanted to be involved in Flip Hacking Live because I want to help people.”

 

  • Mike Simmons
  •  

 

“I’ve seen the transformation enough to know it is real.”

 

  • Mike Simmons

 

 

“It is not possible to go to Flip Hacking Live and not learn something.”

 

  • Mike Simmons

 






Links:

Flip Hacking Live 

Flipping Junkie Podcast

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months




In this episode, I have the opportunity to interview fellow 7 Figure Flipping member, Sheri Duignan. Sheri has been involved in real estate investing since 2004, beginning with the rental of her own home when she was called to move across the company for her job. Over the next few years, having experienced both the highs and lows of real estate, she decided to self-educate through reading and attending seminars and then launched her own business. In order to do this, she resigned her District Vice President position after 18 years with this company but is now happily wholesaling and flipping houses full-time.

 

After the almost accidental start in real estate by renting her own home in Atlanta, Sheri talks about the transition from her corporate job into real estate investing. She purchased her next two rentals in North Carolina because she went to school and also had family in the area. She talked about looking for investor-friendly agents to find these properties and how once she found one, he ended up managing her properties for him and built a business out of it.

 

Because Sheri started out as a buy-and-hold investor, I asked her what made her transition into other aspects of investing. When her Atlanta home came vacant after the same tenants for 10 years, she and her husband camped out in the house while they nearly completely rehabbed it to rent again. Sheri really enjoyed the process and ended up taking some classes that convinced her she should be flipping and wholesaling houses in addition to her rental properties.

 

I asked Sheri to share some of the difficulties she has had in her time investing. She talked about how when she first started investing full-time after leaving her corporate job, she was very frustrated and wondered if she had made a big mistake because she was doing so much work and spending a ton on advertising with very little return. Just when she was ready to give up, she ended up closing on two deals, which completely changed her mindset and restored her confidence.

 

Because she shared these struggles with us, I asked Sheri what is working best for her now with lead generation. She said she is still successful with direct mail, but she is finding networking to be very effective. Sheri joined Business Networking International which is a referral company that incentivizes its members to refer to one another in the group. She explained the current deal she is working on that she obtained through this network, and went into detail describing the numbers and the creative financing she was able to utilize. Sheri also explained that her goal was to finance more rentals with the profits she is making from flipping houses to increase her passive income.

 

Here is just another example of an incredibly generous business person who is willing to lay it all out honestly in an effort to help other investors, so don’t miss this fantastic episode with Sheri Duignan!






Notable Quotes:

 

“Real estate is really my passion and what makes me excited. There are so many facets to it.”

 

  • Sheri Duignan

 

 

“I was tired of corporate politics and wanted to work for myself.”

 

  • Sheri Duignan

 

 

“You just have to be patient and have some grit.”

 

  • Sheri Duignan

 

 

“Thank God for my husband… he was such a great cheerleader and kept telling me to ‘Go, Go, Go!’”

 

  • Sheri Duignan

 

 

“You can’t let one property define you.”

 

  • Sheri Duignan

 

 

“Where I am really finding more success with lead generation is through networking.”

 

  • Sheri Duignan

 

 

“Relationships and networking take more time and energy, but in the long run, the return on the investment is astronomical.”

 

  • Mike Simmons

 

 

“If you are an entrepreneur, it can’t be ‘I can’t’... it has to be ‘How can I?’”

 

  • Mike Simmons

 

 

“You can go one of two ways when life gets tough - you can quit or you can buckle down and work harder.”

 

  • Mike Simmons

 

 

“Don’t be bashful about what you are doing. Talk about it.”

 

  • Mike Simmons

 

 

“My advice to new investors - Just get started.”

 

  • Sheri Duignan

 

 

“Joining 7 Figure Flipping is probably the best thing I have done, out of everything I have done.”

 

  • Sheri Duignan

 

 

“I resisted masterminds and coaching for years because I was being pig headed and thought I could just figure it out.”

 

  • Mike Simmons

 

 

“I love your ‘I will figure this out and win’ attitude!”

 

  • Mike Simmons

 







Links:

Flip Hacking Live

Business Network International 

Real Results Realty LLC

Sheri’s Email

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months



Direct download: Creative_Real_Estate_Deals_and_the_Power_of_Networking.mp3
Category:general -- posted at: 3:30am EDT

Ok guys, thank you for joining me, thank you for being here on Just Start Real Estate! I’m excited to have you and I’m excited to be with you for another Thursday show. This is the Thursday show that didn’t exist a month ago as we just started doing two shows per week and I am psyched about it! I am trying to turn about the volume on the value that I am offering you on these shows and the Thursday show is something I am really happy about. I am happy to be bringing you more content that I think is going to move the needle for your business. Today, we are continuing our Flip Hacking Live Rewind series and I am just plucking the best of the best, the presentations I really think you missed out on by not seeing them live and giving them to you here. Today we have a presentation from 2018 given by my mentor, Andy McFarland, who I really look up to in this industry, as a person, a businessman, a father, and a husband. If you have had any exposure to Andy or seen him present, you know what I am talking about - he is absolutely the best and smartest of guys. Today, I am bringing you his presentation on Seller Financing. Guys, seller financing is going to be humongous in the next year or two. It’s big now, it has always been big, but I think it is going to be especially impactful and useful in your real estate tool belt for you so that you are able to do these types of deals. There is nobody better, no one that has been doing it longer at such a high level than Andy and he is the perfect guy to lay this out for you so that you can start doing seller financing deals.

 

Pay attention to this one - Andy really brings it in this presentation and I know it is going to blow your mind! Seller financing, as Andy explains it, is easy to follow and easy to implement and you should be doing this in your business! 



Notable Quotes:

 

“Gotta learn to look at all the angles.”

 

  • MacGyver

 

 

“You can’t effectively sell what you don’t believe.”

 

“No one cares how much you know until they know how much you care.”

 

“There is no microwave trust.”

 

“You show that you care by active listening.”

 

“Listening is not waiting to talk.”

 

“Start and end your day with this: Have I done any good in the world today?”




Links:

Flip Hacking Live

7 Figure Flipping

Andy’s Website

ABC Offer

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months



Direct download: FHL_2018_-_Andy_McFarland_-_Selling_Seller_Financing.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I have the opportunity to interview Roofstock CEO, Gary Beasley. Roofstock is a leading real estate investment marketplace that he co-founded in 2015. Gary caught the entrepreneurial bug while earning an MBA at Stanford, and spent most of his career building businesses in the real estate, hospitality, and tech sectors.

 

We began as we often do by diving into Gary’s background. He talked about growing up in small midwestern towns learning a bit about the business from his dad who owned a commercial real estate brokerage firm. Gary said things really changed for him when he went to school at Northwestern and how the environment really opened his eyes to the different possibilities available to him. He decided to go to business school after working a couple of years in real estate, thinking that he wanted to do something different, but ending up right back in real estate after earning his MBA from Stanford.

 

Gary talked about his early work experience and the different roles that he played. He talked about how much he learned and how his confidence grew when he was able to perform duties that he had not done previously. After several years of working as both a CFO and president for ZipRealty, he decided to take a year off to work on various projects. He took some time to teach some entrepreneur courses at Stanford and ended up making a proposal to a solar panel technology company that led to another leadership role.

 

Gary took some time to explain the circumstances that led him to starting Roofstock and the advantages to their platform. Some of these include fast sales, costs associated with selling homes are lower than through traditional means, there is no down time for the investment, and very little disruption to the tenant. As part of this discussion, I talked a lot about why using Roofstock is desirable for an investor in my situation. Gary outlined several of the benefits and guarantees that are integral to the Roofstock marketplace.

 

We then discussed where Gary thinks the housing market is headed. He said that it is so hard to predict the future because there are so many variables, but it is very interesting that the housing market is still so hot after several months of the pandemic. He stressed that because of the pandemic, people are valuing their homestead more than ever and that is having an interesting impact on the market.

 

Gary has an incredibly interesting background and was a great guest, so please join us for this uber-informative episode of the Just Start Real Estate Podcast!

 



Notable Quotes:

 

“One of the best things about college is how it expands your horizons and your viewpoint of what is possible.”

 

  • Mike Simmons

 

 

“I encourage people to view college as a time of exploration and not necessarily as a practical, pre-professional period.”

 

  • Gary Beasley

 

 

“College really teaches you how to think.”

 

  • Gary Beasley

 

 

“Early in your career, do things for the experience, not for the money.”

 

  • Gary Beasley

 

 

“The more difficult the decision, the less it matters what you decide.”

 

  • Gary Beasley

 

 

“You lean on experts that can help you.”

 

  • Gary Beasley

 

 

“Make sure you are surrounded by the right people.”

 

  • Gary Beasley

 

 

“Embrace the process and everything will be okay.”

 

  • Gary Beasley

 

 

“If you stay where you are comfortable, I hope you are comfortable where you currently are because that is where you will remain.”

 

  • Mike Simmons

 

 

“We are trying to break down the geographic barriers to real estate investing.”

 

  • Gary Beasley

 

 

“When you are building a marketplace, it has to be on a foundation of trust.”

 

  • Gary Beasley

 

 

“It has to be trust first, then growth, and then profitability.”

 

  • Gary Beasley

 





Links:

Flip Hacking Live

Roofstock

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months


I have for you today an awesome, handpicked presentation. These are like the best of the best presentations that we had at past Flip Hacking Live and I just want to show you what you are missing out on if you are not going. If you are going, it is something to look forward to because I have a presentation today that my friend, Adam Rae, did a couple of years ago and it is all about wealth accumulation, wealth building, and creating a life inside of real estate that gives you the opportunity to live the life that you really want with freedom of time, financial freedom, and how to go about doing that. He gets into a little bit of tax stuff and things like that so it is really good, solid information that you can actually utilize right away.

 

This is why I am bringing you these presentations as part of our Flip Hacking Live Rewind Series. Most of these have not been released to the public or given away for free - usually, you have to pay to get the presentation recordings. I am giving them to you free because I really want you to understand what goes on at this event! If you haven’t gotten your tickets, you can grab them at the link below! Go grab your tickets, but in the meantime, check out this presentation from 2018 which is absolutely applicable today. As a matter of fact, it might be even more applicable now than it was then! Check it out, get ready to take notes… this one is awesome!



Notable Quotes:

 

“Why are we all here? Why does it matter?”

 

“All models are wrong; some are useful.”

 

  • George E. P. Box

 

 

“You actually have to do the work to apply some of the principles and work it out with your values, your life, your business.”

 

“I think you need to back up and define what wealth is for you.”

 

“What you are seeing online is a very curated view of what someone else considers what wealth is.”

 

“It’s not about the money for me, it’s about the time.”

 

“Passive income is mailbox money - it is going to pay you regardless if you show up or not.”

 

“Don’t mistake assets for passive income.”

 

“The purpose of wealth-building is to buy back time.”

 

“How incredible is the wealth in this room when we not only get to bring money in but it is about sending it out to work for the people that we love.”

 

“I have been in other groups, but I don’t know another group that has the character, the values, the camaraderie, and the transparency.”

 

“It’s about growing as people on a long journey to wealth so that we can all achieve and be the people we were made to be.”

 

“The real estate professional piece [of the tax code] is where it gets really sexy.”

 

 

Links:

Flip Hacking Live

7 Figure Flipping

Adam’s Website

KBKG

ABC Offer

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Direct download: FHL_2018_-_Adam_Rae_-_Replacing__Capturing_Your_Income_Through_Rentals.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I have the opportunity to interview Avery Carl, who bought her first rental property at age 26 on a $37,000 salary. Through strategically investing in short-term rental properties in mature vacation rental markets, she was a millionaire by the age of 31. She now owns a portfolio of 28 properties and is the CEO and founder of The Short Term Shop, a real estate team that helps investors acquire short-term rental properties in the most recession-resistant markets, and trains them on the same methods that led her out of the corporate rat race and into financial freedom.

 

 Avery begins by telling us about her background in which she worked as a marketing manager in the music industry. Completely uneducated in real estate investing, she and her husband decided to purchase a home for a long-term rental in the hopes of selling it to pay for college for their future kids. Quickly, they realized that they should do more investing and came across the idea of short-term rentals. They have now grown their portfolio into 28 properties, split between short and long-term rentals. Avery’s business, The Short Term Shop, grew from the necessity of having to become an expert in this type of investing as so few people are and she found very little support.

 

Avery talks about how her focus has been regional, driveable, vacation-rental markets because they are more recession-proof. Very applicable currently, as we are still dealing with the COVID-19 pandemic, these types of rentals are very attractive when people are unable to or cannot afford to get on a plane, but still want to get away from home. She said that an easy way to think of areas that might be attractive to have short-term rentals are places you may have visited as a child when you rented a house rather than stayed in a hotel. Avery also said that metro markets can be undesirable because of regulations imposed stemming from the competition of nearby hotel markets.

 

I asked Avery to talk about what I perceived is the downside of short-term rentals, primarily having to deal with people and answer questions very frequently. She said that many different software platforms have risen out of this fairly new type of investing called channel managers that automate a lot of this process. Avery also said that providing as much information as possible in your Airbnb or VRBO listing to try to answer as many questions ahead of time as possible. She also explained all of the technology they have in place for monitoring their rentals.

 

I wanted Avery to explain the finances involved for the different markets that she is in. She went through the numbers she has seen in her experience and some of the possible expenses, such as property management, which she does herself. Avery said that more bedrooms make for a higher return on investment, so we talked about this and other details a bit. 

 

I wanted Avery to talk about some of the mistakes she had experienced herself or seen with her clients that new investors should be aware of. Evaluating properties to buy is different in that you want to look at asking price versus what you can make in rentals, instead of what you would make when you sell it. As far as management, she said you have to be aware that because the renters are on vacation, they may not be on their best behavior, but that doesn’t mean they are trashing your place and you have to be careful about calling them out on it. Avery also talked about some of the software tools available to short-term rental investors for management.

 

I then asked Avery to explain  to our listeners the service that The Short Term Shop provides. She said that she is a realtor and has teams in three different markets in Tennessee, Florida, and Alabama. They help investors make sure that the properties they are evaluating would make profitable short-term rentals and walk them through the whole process to run a vacation rental.

 

Even though Avery owns and runs a business to help people get started in this kind of investing, she was completely transparent and gave us all the tips and tools she uses for her own properties! Don’t miss this fast-paced interview, chock-full of great information with Avery Carl




Notable Quotes:

 

“Short-term rentals provide turbo-charged income.”

 

  • Avery Carl

 

 

“You definitely want to treat your cleaners like gold because they are your eyes and ears.”

 

  • Avery Carl

 

 

“Don’t micromanage.”

 

  • Avery Carl

 

 

“The more people you can sleep, the more money you can make, and the higher the cash-on-cash return.”

 

  • Avery Carl

 

 

“It’s better than sitting in an office every day.”

 

  • Avery Carl

 




“Normal real estate investors are looking for super deals all of the time.”

 

  • Mike Simmons

 






Links:

Flip Hacking Live

The Short Term Shop

AirDNA

Mashvisor

KeyData

YourPorter

IGMS

TurnoverBnB

Beyond Pricing

PriceLabs

Wheelhouse

Airbnb

VRBO

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Direct download: Big_Profits_with_Short_Term_Rentals_with_Avery_Carl.mp3
Category:general -- posted at: 3:30am EDT

Today, I have another great presentation from a past Flip Hacking Live in our Thursday Flip Hacking Live Rewind series where I share a little glimpse of what you can expect to experience at this event. If you already went ahead and got your ticket, you are going to love it and I am just going to prove it to you by showing you past events; people who spoke, people who will be speaking again this year so you can see the value before you even show up. If you haven’t gotten your tickets, go grab them! Today, I have Tyler Jensen’s presentation from last year and it is powerful and awesome! If you don’t know who Tyler is, he is a friend of mine who is making a name for himself right now because he is doing 7 Day Flips. That’s right - he is doing full renovation flips in 7 days or less! We are talking about $40,000 renovations, not just minor stuff. It is amazing, especially for those of us who take weeks or months or even a year to do renovations, Tyler is doing it in 7 days. Listen, even if you think that 7 days is just not realistic for you, what if you could just cut your renovation time in half? Imagine how much more productive you would be, imagine how much money you could save on holding costs and all that stuff.

 

This is a presentation you should really be excited about! Tyler is going to be at Flip Hacking Live again this year, but you will want to listen to this and be ready to take notes because he gives great tips and opens up the playbook on how to flip a house in 7 days.





Notable Quotes:

 

“You get to choose whether today is the best day ever.”

 

“I’m here to build castles, not fight dragons.”

 

“Small questions yield small answers.”

 

“Money is made in efficiency.”

 

“Work expands to fill the time available for its completion.”

 

  • Parkinson’s Law

 

 

“Our biggest takeaway is planning and people. We had to have both.”

 

“The battle is no time to sharpen your sword.”

 

“You can’t soar like an eagle if you hang out with turkeys.”

 

“I was born for this.”





Links:

Flip Hacking Live

7 Figure Flipping

Tyler’s Website

ABC Offer

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Direct download: FHL_2019_-_Tyler_Jenson_-_7_Day_Flip.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I have the honor of interviewing my good friend Danny Johnson, who does a great job of introducing himself as we start things off a little bit differently for this show. Danny started flipping houses in 2003, made it successfully through the housing market crash in 2008, and started scaling his business up about 5 years ago. As a software developer prior to flipping houses, Danny started developing real estate investor websites by creating the software called LeadPropeller. Recently, he has developed and released FlipPilot 2.0, which is lead/deal management pipeline software. Danny is also the host of the ever-popular Flipping Junkie Podcast and Flipping Junkie Blog.

 

Danny shared some details of his personal life and how circumstances really forced him into looking hard at his life and work. He had removed himself from the day-to-day operations of his house flipping business, but he found that this was something he really wanted to change. As he is re-investing himself in real estate investing, he wants to keep things simple and look at his long-term plans for the business’ growth.

 

I asked Danny to talk about the development of FlipPilot and what drove him to produce that software. Because his background is in software development, it was natural for him to want to create vehicles to help with his investing business. He talked about the whole progression of building the software and the lessons he learned along the way.

 

Danny talked about how he started the Flipping Junkie Blog as a means to hold himself accountable and to be transparent about the deals he was finding and all of the associated numbers. He ended up writing a book titled Flipping Houses Exposed to share all of the information he learned during this experience. But he wasn’t happy with the conversion ratio, which is what led him to the development of FlipPilot. We wanted to dig into the whys behind the lack of success in converting deals and solve it for himself going forward as he became more involved in real estate again.

 

We talked a lot about how FlipPilot incorporates your systems and processes and how valuable this is for being effective in your business. We discussed integrating personal touches such as follow-up notes and how they sound like a great idea, but they need to be part of your process or you won’t take the time to do them. Danny stressed how important it is to be able to visualize each system, putting it in a place where you will see it so that you actually work it. This also makes it much easier to scale and have your whole team working on the same page. It also makes getting things done fun and rewarding.

 

Because of this unique situation of talking to an experienced investor who is, in a sense, starting over, I asked Danny to describe how this journey is going. Even though he doesn’t plan on employing a large group of people, he is treating it as a scalable company. He is looking at being more effective and efficient, making his time and effort really count, rather than spending a ton of time and money for little gain. His marketing strategy has also changed because he is more focused on long-term investments in specific markets. Danny also discusses being more profit-oriented, rather than focusing on a random number-of-deals goal.

 

This interview feels like two guys, sitting around a fire-pit, having a beer, talking real estate and life… you don’t want to miss this episode with Danny Johnson!




Notable Quotes:

 

“That rush of excitement you felt is really an indication, a confirmation of what you want.”

 

  • Mike Simmons

 

 

“I always wanted to create software to help out with the house flipping business.”

 

  • Danny Johnson

 

 

“I don’t want to go in thinking I know everything… I want to learn fresh.”

 

  • Danny Johnson

 

 

“One of the hardest things to do well, in this industry, is follow-up.”

 

  • Mike Simmons

 

 

“Treating people like people is a huge part of this.”

 

  • Danny Johnson

 

 

“Who doesn’t want to be seen and heard?”

 

  • Danny Johnson

 

 

“Referrals is another thing that people in our business overlook.”

 

  • Mike Simmons

 

 

“You got to make it such a “WOW” experience so that they can’t help but to tell their friends about it.”

 

  • Danny Johnson

 

 

“What is not measured cannot be managed.”

 

  • Danny Johnson

 

 

“Enjoy this business - every day of it.”

 

  • Danny Johnson

 

 

“How much money do you need to live a comfortable life?”

 

  • Danny Johnson

 




Links:

Flip Hacking Live

Lead Propeller

FlipPilot

FlipPilot Demo

Flipping Houses Exposed

Flipping Junkie Blog

Flipping Junkie Podcast

Work the System

Traction

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months




The first Thursday installment of Just Start Real Estate in several years features someone I am really proud to call a friend and who has had more influence over my real estate growth in the last five years than any other human being on Planet Earth. That is because he is someone who is not only highly successful, but he also does it the right way as he is a good person. He is someone I look up to and look to as a mentor. He has been on the show before, his name is Andy McFarland, and he did a presentation at a past Flip Hacking Live which is as true now as it was in 2017. It is a presentation I have listened to more than once and it is one that I think listeners will go back to and revisit again and again. Andy gets into what he calls “blocking and tackling,” which is a term for getting back to the basics. He explains what it is that makes your company strong and in a position to scale, as opposed to throwing a bunch of new-fangled things at it. For real estate investors, “blocking and tackling” is leads and conversions. Andy dives deep into this subject matter and also talks about preparation, pre-work before appointments, and hiring. At the end of the presentation, Andy also has a Q&A session, handling questions from the audience.

 

This is an incredibly powerful presentation, one that I listen to any time I feel my business has gotten off-track a bit. Don’t miss this opportunity to get a sneak peek into Flip Hacking Live and a small piece of what this event has to offer with this talk by Andy McFarland!




Notable Quotes:

 

“All of us here in America have huge, limitless opportunities.”

 

“We all have a pot of gold here by virtue of the fact that we live in the United States.”

 

“In every man there is something wherein I may learn of him, and in that, I am his pupil.”

 

  • Ralph Waldo Emerson

 

 

“You have permission to be bigger.”

 

“Not all success is measured in numbers.”

 

“The secret to success is there is no secret. It is the basics - blocking and tackling.”

 

  • Chris Gardner

 

 

“Do what others are unwilling to do.”

 

“If you are not answering your phone and are spending money on marketing, you are wasting your money.”

 

“The key is preparation.”

 

“Always continue your education.”

 

“Are you willing to do this? Are you willing to prepare?”

 

“Discover your truth about that property.”

 

“We can’t see something we don’t believe in.”

 

“Show up on time.”

 

“Be real. Build rapport. Listen.”

 

“It is 90% preparation.”

 

“You need to be able to get things done through other people.”



Links:

Flip Hacking Live

7 Figure Flipping

Andy’s Website

ABC Offer

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Direct download: FHL_2017_-_Andy_McFarland_-_25_Deals_a_Month_and_Over_4M_in_Revenue.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I get the chance to interview fellow 7 Figure Flippers Rob Badhorn and Ernie Vargas. Rob lives in Arizona, but performs flips and owns rentals in Ohio. He worked in corporate America for 23+ years, handing $1.5B in revenue for Sales Teams Across USA. He is constantly building multiple streams of income, especially during these challenging times, as he considers himself a serial entrepreneur. Rob’s rental portfolio includes the flips and/or wholesale of 100+ homes utilizing the marketing strategies of Direct Mail, Bandit Signs, Cold Calling, RVM’s/Voice broadcast, FB Custom Audiences, and Texting. He also owns a software company specializing in Lead Generation and Skip Tracing.

 

Ernie Vargas purchased his first house in 1994 and continued doing real estate while working full-time, but he didn’t hit the success he felt he was capable of. In 1999, after an accident that left him in a coma, he realized that life was short, so he quit his job and went into investing full-time. Eventually, probate hit his radar and started him on a quest to learn all he could about this niche that no one had answers for.

 

After many years of specializing in probate, Ernie has become a true probate expert, often helping attorneys and their clients in the probate process. His ability to think outside the box coupled with his expertise in negotiating and marketing has allowed him to help several hundreds of investors, agents, and sellers get deals closed. Now Ernie not only has more time to spend with his wife and four kids, but he gets to do what he truly loves doing - helping everyday people create wealth and personal freedom.

 

The guys first began by giving us their backgrounds and what lead them to real estate investing. Ernie described the moment that really changed things for him when he was working as a freezer stocker at a warehouse store that would eventually become Costco. His boss said something to him that made him realize that he wanted much more from life. He changed jobs and on his way to his first day of training, ended up getting into a terrible car accident that left him in a coma. This experience, coupled with a seminar he went to, completely changed his thinking.

 

Rob said his journey was similar to a lot of other investors - he read Rich Dad, Poor Dad, went to a few seminars, but he said he has always had the bug to get the passive income stream going. He was in the corporate world but purchased a couple of rentals in order to make up his salary so that he could invest full-time. Joining the 7 Figure Flipping mastermind group really changed everything for him.

 

Rob talked about his rental portfolio and how he manages the properties himself while employing one handyman to do the work. I asked how much of the work he actually does himself as far as background checks, collecting rent, etc. and Rob said he thought the thing that changed the most in the past several years was the software available for property management.

 

Even though he has a large rental portfolio, Rob felt the need to expand into other forms of real estate investing to develop multiple income streams, which is the reason why he and Ernie partnered up. I wanted to dig deep on the details of their partnership because so many people struggle with making this work. Ernie said they both have different areas of expertise; Rob is really strong in the area of technology related to real estate and Ernie has become a probate specialist. They had met at a 7 Figure Flipping event and Ernie called Rob concerning skip tracing and the rest is history.

 

We also discussed the issues with probate investing which have been intensified by the COVID-19 pandemic situation. There is so much talk about this type of investing being deceitful that I wanted the guys to explain how they actually help people with integrity. Ernie talked about how many investors shy away from this type of work, but that the demand for people-loving investors is so high because there is a real need to help those who are grieving through the process.

 

These two investors bring so much to the proverbial table and share so much information with you in this episode of Just Start Real Estate. Don’t miss my conversation with Rob Badhorn and Ernie Vargas!





Notable Quotes:

 

“We get lessons out of anything we experience in life if we allow them to change us.”

 

  • Ernie Vargas

 

 

“I was bitten by the idea of opportunity and change.”

 

  • Ernie Vargas

 

 

“Have a goal, give that goal a deadline, write it down, and go out and take action.”

 

  • Ernie Vargas

 

 

“You do what you can with what you have.”

 

  • Ernie Vargas

 

 

“You have to be ready when opportunities come.”

 

  • Ernie Vargas

 

 

“The NBA did not work out for me.”

 

  • Rob Badhorn

 

 

“It’s like bringing a puppy to the park if you are looking for a date.”

 

  • Mike Simmons

 

 

“When it can bring value not only to myself but to other people, that’s what really gets me excited.”

 

  • Rob Badhorn

 

 

“There is a lot more value than just buying the leads themselves.”

 

  • Rob Badhorn

 

 

“The ultimate motivated seller is probate.”

 

  • Ernie Vargas

 

 

“You have to have a passion for people in this probate business.”

 

  • Ernie Vargas

 

 

“Keep moving forward.”

 

  • Ernie Vargas

 




Links:

Flip Hacking Live

Rich Dad, Poor Dad

7 Figure Flipping

Buildium

LeadFuzion

Ernie’s Website

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months



Direct download: Flipping_Wholesaling_and_Multiple_Streams_of_Income.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I get the chance to interview fellow 7 Figure Flipper Darren Smith. Darren is a residential and commercial real estate investor in multiple markets across the country. After being in the Army and working in the computer industry, he tried his hand in real estate but unfortunately lost his earnings in the housing crash. This experience took Darren out of real estate for a few years, but his love for the industry drew him back. Working as an assistant to a wholesaler at first, Darren learned a great deal and started his own business. A week before he was laid off from his computer job, Darren joined the 7 Figure Flipping Mastermind group.

 

We began, as we often do, discussing what drew Darren to real estate investing. He said after being in the service for several years, he found himself sitting next to an investor that was flipping houses and had a multi-family property in Baltimore. Because he was super passionate about the work that he was doing, this caused Darren to catch the real estate “bug.”

 

Since his first deal in 2003, to the present day, Darren has had some ups-and-downs in this business, like every investor. We talked about how he made some money in his first go-around with investing but lost it in the housing market crash. After starting up his own company in 2014, he ran into some issues in 2017, hired a coach, laid off some employees, and rebuilt from there. We talked about meeting the challenges by changing strategies rather than giving up.

 

We talked about helping out clients, the pros and cons of wholesaling versus flipping, how Darren’s deal-finding process is ever-evolving, and so much more! We discussed a ton of marketing ideas and why cold-calling is a longer process than some other strategies. Darren explained the training and role-playing that they do as a staff in order to convert deals through this method.

 

Darren also explained the differences he has faced in speaking with both buyers and sellers during the COVID-19 pandemic. He said in both cases it is just really important to acknowledge the change in circumstances, and yes, things are challenging, but no one really knows what the future is going to bring. I asked about other changes they have had to make and Darren talked about how they are having home inspectors go out to take pictures and videos of homes, which ends up being the only necessary point of contact whether buying or selling.

 

I asked Darren what markets he is working in and he explained that he lives in Pennsylvania, works in two markets in Colorado, and just bought an existing real estate business outside of Philly. This was such a novel and interesting concept to me that we discussed this in detail. I asked if it was just a property database, and Darren explained that it is really the established business presence and reputation that they invested in. He even explained how they structured the deal, which he actually recommends to anyone attempting to do the same thing.

 

Darren wrapped up the interview by not only giving credit to his team but also pointing out how much he counts on the support and fellowship of 7 Figure Flipping. This character-filled investor gives us so much wisdom in the latest installment of the Just Start Real Estate Podcast, you would be crazy to miss it!



Notable Quotes:

 

“It’s like flying too close to the sun - you could have burned up, but you didn’t.”

 

  • Mike Simmons

 

 

“You have to assess what is going on and make changes accordingly.”

 

  • Mike Simmons

 

 

“Fifty percent of our processes are different than they were 90 days ago.”

 

  • Darren Smith

 

 

“We throw meat into the pen and let the lions fight over it.”

 

  • Mike Simmons

 

 

“The reality is, it’s a people business.”

 

  • Mike Simmons

 

 

“If it gets harder to sell, it will get easier to buy.”

 

  • Darren Smith

 

 

“Specialists make more money than generalists.”

 

  • Darren Smith

 

 

“We’ve gone from about 90% closing in person to about 90% closing over the phone.”

 

  • Darren Smith

 

 

“When you have the right people in place, scaling gets much easier to do.”

 

  • Darren Smith

 

 

“Any time there is economic hardship, rentals become more of a thing.”

 

  • Mike Simmons

 

 

“Dude, you are even smarter than I thought you were!”

 

  • Mike Simmons

 

 

“You have a clear focus, sound logic, and a strong game plan.”

 

  • Mike Simmons

 

 

“I have never been more thankful to be in a mastermind than right now.”

 

  • Darren Smith

 

 

“Masterminds are a lifeline. If you were on the Titanic, what would you be willing to invest in a raft?”

 

  • Mike Simmons

 




Links:

Flip Hacking Live

Darren’s Email

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months




In this episode, I am joined by Carla Reeves, who is known for her compassionate, direct, and truth-telling candor. Carla Reeves has coached hundreds of executives, CEOs, and other ambitious leaders over the past ten years. She  is committed to guiding individuals to clarity about the real stumbling blocks that stand in the way of their growth and equip them to experience profound shifts in their confidence and ability to communicate powerfully.

 

Carla spent 10+ years in Corporate America working in Human Resources and Information Technology. She left Corporate America at age 32 to raise her boys and live the entrepreneurial life she loves. A series of entrepreneurial adventures organically evolved into the coaching she does today. What she knows to be true is that people are far closer than they realize to the very things they deeply desire. Often, the only thing standing in the way is an old, outdated way of viewing themselves and the world around them.

 

Carla uses the analogy of the lens of a pair of glasses… if we are looking at the world through these and they are marred by faulty or unhealthy thinking, no matter how successful we are, we are not going to experience our life as happy. She talks about the escapism that so many people think will make them happy - escape from a relationship, or a job, or a location. Carla tries to get people to delay those actions in order to help them discover what is really driving them.

 

Carla is a big proponent of journaling, so I asked her why she thought that is so important. She said there are many benefits but that she would focus on three ways it can be a helpful tool. Journaling can be a mechanism to empty your mind and clear out all of the noise, which Carla calls taking out the mental trash. It also gives us a little distance from our thoughts and awareness of what we are allowing in our headspace. Clara also says she likes to think of journaling as a tool for navigating our lives, to get things down with pen and paper in order to examine the circumstances and prepare our response.

 

I asked Carla to explain the meaning and importance of mindset shifts. She said we often get focused on what we don’t want, and how fear can play a part in unhealthy and unproductive thinking. She said that it is important for us to be aware of this and then ask ourselves what we do want, and focus on that instead of imaging negative outcomes.

 

We talked a little bit about the pandemic, the wide range of reactions to it, and how Carla is helping her clients get through this challenge. She said the tone of her coaching calls have really changed from being forward-thinking and goal-focused to rather a survival mode kind of situation. Carla said because we are getting so much information, and much of it conflicting, and differing view and opinions, it is even more important to unpack our thinking, whether through journaling or speaking to someone we trust. She emphasized how important it is to control the things that we allow in our lives and the power that they have over us.

 

During this interview, Carla really emphasizes the power our thinking has and how much positive influence we can have if we take the time to become aware of it and change it up, if necessary. This episode is incredibly helpful in reminding us of the need for self-care if we are going to grow both personally and professionally and I hope you will join us!

 

 

Notable Quotes:

 

“What holds people back has more to do with what is between their ears rather than the external tools they have at their disposal.”

 

  • Mike Simmons

 

 

“On the outside, life looks really good, but there is a disconnect on the inside for them to actually experience that.”

 

  • Carla Reeves

 

 

“Thriving begins on the inside.”

 

  • Carla Reeves

 

 

“A deep change in the way that you experience life requires a deep change in the way that you think.”

 

  • Carla Reeves

 

 

“We have to examine our thinking first to really shift our outer experience.”

 

  • Carla Reeves

 

 

“A lot of high-achievers have an old, out-dated story inside themselves that doesn’t fit, but got lodged inside them somehow.”

 

  • Carla Reeves

 

 

“I try to help my clients let go of their faulty thinking which causes relentless striving for never-ending achievement.”

 

  • Carla Reeves

 

 

“What I discovered was that many people came to me for coaching because they wanted to escape something.”

 

  • Carla Reeves

 

 

“They become fueled by inspiration or passion rather than trying to prove something.”

 

  • Carla Reeves

 

 

“Just replacing that fuel or engine with something more productive and positive is the key.”

 

  • Mike Simmons

 

 

“Journaling is like taking out the mental trash and will help you to be more present and engaged.”

 

  • Carla Reeves

 

 

“If you don’t make decisions for yourself, life will make them for you.”

 

  • Mike Simmons

 

 

“A lot of times we get focused on what we don’t want.”

 

  • Carla Reeves

 

 

“We create a lot more suffering and struggle with our thinking.”

 

  • Carla Reeves

 

 

“We all carry a load - the heavy is in our heads. We may not be able to change the load, we can control the weight by the way we choose to think.”

 

  • Carla Reeves

 

 

“Mastermind groups become a lifeline in challenging times.”

 

  • Mike Simmons

 

 

“This is a time of re-invention for people.”

 

  • Carla Reeves

 

 

“The pandemic has given us all a “Little House on the Prairie” life scenario.”

 

  • Mike Simmons

 




Links:

Flip Hacking Live

Carla’s Website

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Direct download: Executive_Lifestyle_and_Mindset_Coach_and_Speaker_Carla_Reeves.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I am excited to interview Mark Podolsky, who, armed with only $3,000, gut-wrenching fear, and absolutely no real estate experience, bought his first few parcels of raw land in 2001. Today, Mark is the author of Dirt Rich, the ultimate guide to helping you build a passive income, and owner of Frontier Properties, a very reputable and successful land investing company. He is also the host of two popular podcasts, The Art of Passive Income and The Best Passive Income Model. By focusing on working smart, not hard, he has completed over 5,500 land deals with an average ROI of over 300% on cash flips, and over 1,000% on the deals he sells with financing terms.

 

Mark begins by giving us a little detail on how he got into land investing. He was working as an investment banker in mergers and acquisitions and had a co-worker achieving incredibly high ROI by investing in raw land. Mark couldn’t believe the numbers, so he tried it himself. After about 18 months, he was able to exceed his corporate job income and was able to quit in order to invest full-time.

 

I asked Mark to walk us through his investing model. He starts by going to the county treasurer in a particular area and gets the list of everyone who owes back taxes on land. He said that this advertises two things to him: the owner is not emotionally attached to the land and he is financially distressed in some way. Mark then looks at comparable sales, takes the lowest comparable sale, divides by 4, and offers that fraction to the owner of the land. Because this is cash, and better than nothing, 3-5% of the people will accept it. Once bought, Mark wants to make the property cash-flow, just like if he had a rental home, and he has a usually has guaranteed buyers in the neighbors. If they have no interest in the property, he has an extensive list of buyers and sites to sell it.

 

Mark talked a lot about selling to his buyer’s list, so I asked him how you build a list for land. He commented that he has a huge market for raw land and he explained some of his marketing strategies. He also employs a 90-day return or exchange and 365-day exchange program so it removes the risk for his customers. He then explained how he has automated both the front-end and back-end systems. He says he only has one hour in this business a week when he conducts his team meeting.

 

I asked Mark to lay out what his team looks like. He has an Acquisitions Manager who decides on a market after extensive research, gets the delinquent tax list from the county, and then who works with a guy on Fiverr, who Mark says is an “excel ninja.” He scrubs the list and uploads it to The Land Geek’s proprietary software LGPASS, which sends out direct mail offers. Then the Intake Manager takes over as the offers come back, to ensure they are actual deals, and to try to negotiate a lower selling price, in addition to the actual closing. The property due diligence is performed by a group in the Philipines associated with an American title company, and then they have ad writers for the major selling outlets like Craiglist and Facebook Marketplace. Mark also employs Virtual Assistants (VAs) to work with the Acquisition Manager handling administrative duties.

 

This episode is about so much more than land investing! Mark walks us through his entire process, which is such valuable information for any investor! Join us for this powerful episode of the Just Start Real Estate Podcast!




Notable Quotes:

 

“Now we are working because we want to, not because we have to.”

 

  • Mark Podolsky

 

 

“No renters, no rehabs, no renovations, no rodents.”

 

  • Mark Podolsky

 

 

“The game that we play is can we create enough of these land notes so that our passive income exceeds our fixed expenses.”

 

  • Mark Podolsky

 

 

“Happy customers guaranteed.”

 

  • Mark Podolsky’s business philosophy

 

 

“What used to take me hours and hours, now takes me one second because of automation.”

 

  • Mark Podolsky

 

 

“You just have to show up - it is a consistency game.”

 

  • Mark Podolsky

 

 

“COVID is definitely changing the way we do business. We might not have the same success rate closing deals over the phone, but it is dwarfed by the volume of deals when you are doing it virtually.”

 

  • Mike Simmons

 

 

“We are learning how to do things faster and better.”

 

  • Mike Simmons

 

 

“Owning land is kind of like man-jewelry.”

 

  • Mark Podolsky

 




Links:

Flip Hacking Live

Mark’s Website 

Tax Title Services

GeekPay

LGPASS

DataTree

ListSource

Dirt Rich

The Wholetailing Course

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Direct download: Land_Investing_with_Mark_Podolsky.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I am joined by super-successful Karen Briscoe, who is the principal owner of the Huckaby Briscoe Conroy Group (HBC) with Keller Williams. The HBC Group has been recognized by the Wall Street Journal as one of the 250 Top Realtor® teams in the United States. Since 1977, HBC Group has sold over 1,500 homes valued at over $1.5 billion. The team consistently sells over 100 residential properties annually ranging from multi-million dollar luxury estates to condominiums and townhomes. Primary market areas include Northern Virginia, suburban Maryland, and Washington, DC.

 

Karen is the creator of the transformative "5 Minute Success" concept. Her books Real Estate Success in 5 Minutes a Day: Secrets of a Top Agent Revealed and Commit to Get Leads: 66 Day Challenge offer a combination of information and inspiration delivered through memorable stories. Her most recent book, Flip Time / Love Life is a heroine’s journey tale about loving the life you have while you create and co-create the life of your dreams. Karen also hosts the highly-rated and immensely popular show 5 Minute Success - The Podcast.

 

Karen starts by telling us how she got into real estate and what led her to authoring books and becoming a podcaster. She initially got started in property developments, but then switched to the residential side of real estate after staying home with her children for many years. Her success in re-building her business after the housing market crisis in 2008 led her to share her methods through her books and podcast.

 

I asked Karen what she thought helped her to be so successful so early and she said it was her primary strategy of lead-generation that she covers in her Commit to Get Leads book. She said she consistently took a plain notebook, numbered a page from one to twenty-five, and when she had filled that up with people she had reached out to that week, she knew her work was done. She is a firm believer that this consistent effort and commitment is what has led to her continued success.

 

Karen then walks us through the 5 Minute Success principles. She is convinced success is achieved by getting into action immediately and applying lessons learned. Karen talks about how spending five minutes each day, especially attaching the reading of these principles coupled with an existing habit, like having your morning coffee, is very effective and makes the new habit effortless.

 

I then asked Karen to explain her 66 Day Challenge so we could dive a little deeper into lead generation because it is so vital to a profitable business. She pointed out that there has been a lot of research done on how long it actually takes to form a new habit. Many people say it takes 21 days, but during that period the person is really excited and, when that wears off, the habit can fail to fully form. If they continue, in the second 21 days, the person goes through a period of evaluation, determining whether they really want to continue developing this new habit. The remaining days in the 66 day period are when people actually start to experience the benefits, and so it is important to power through and create the energy for persistence. And then, of course, this is just the challenge to get you jump-started for forming a life-long habit.

 

Because Karen has had so much success for a long period of time in real estate, I asked her where she thought the market would be headed because of the impact of COVID-19. She said she thought the concept of home has actually changed because of the shelter-in-place directives, and people are going to be more mindful of their living space because of it. Karen described how where they were seeing a trend toward urbanization, it now seems to be shifting toward suburbanization, because people want more space and land. She said many agents from around the country are seeing demand, but many of the sellers are unsure about the ongoing situation and not pulling the trigger.

 

Karen then talked about her partnership with the Front Row Foundation which helps individuals and families braving critical health challenges live life in the Front Row. The hope of the foundation is to provide a Front Row experience that will allow the recipient to set aside any physical or emotional challenges while they attend the event of their dreams and create memories that last a lifetime.

 

Karen is an ultra-successful business person, but much more importantly, an incredibly generous and kind one as well, so you will definitely miss out if you don’t listen to this week’s episode!



 

Notable Quotes:

 

“The best system is the one you use.”

 

  • Mike Simmons

 

 

“Don’t overthink it - it is the consistency and the work that matters.”

 

  • Mike Simmons

 

 

“Preparing to do the work is an excuse for not actually doing the work.”

 

  • Mike Simmons

 

 

“I call it activity blocking rather than time blocking.”

 

  • Karen Briscoe

 

 

“The delivery system of these principles for 5 minutes a day is very powerful.”

 

  • Karen Briscoe

 

 

“Time is a created thing. To say ‘I don’t have time’ is like saying ‘I don’t want to.’”

 

  • Lao Tzu

 

 

“If somebody doesn’t want to invest 5 minutes a day into their personal or business development, then they don’t really want to be successful.”

 

  • Karen Briscoe

 

 

“Leads are oxygen to your business.”

 

  • Mike Simmons

 

 

“If you are living life on the front row, you can have a front-row moment wherever you are.”

 

  • Karen Briscoe

 




Links:

Flip Hacking Live

Real Estate Success in 5 Minutes a Day: Secrets of a Top Agent Revealed

Commit to Get Leads: 66 Day Challenge

Flip Time / Love Life

5 Minute Success Website

5 Minute Success - The Podcast

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Direct download: 5_Minute_Success_in_Real_Estate_with_Karen_Briscoe.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I am thrilled to interview Michael J. Maher, who is CEO of REFERCO, the world's foremost authority in business referrals. In just his third year in real estate, he did 187 transactions and over $40 million, entirely from referrals. For the next 8 years, he received over 500 referrals every single year and netted over $1 million. Michael is an internationally bestselling author and his book (7L) The Seven Levels of Communication: Go from Relationships to Referrals has been the #1 book in Real Estate Sales on Amazon for over 9 straight years. In addition to these impressive accomplishments, he has shared the stage George W. Bush, Tony Robbins, Barbara Corcoran, and John Maxwell.

 

As we often do on the show, we started by talking about Michael’s background. He began his working career as a high school math teacher and coach of three sports: football, basketball, and baseball. He spoke about how dedicated he was and earned District Teacher of the Year in his first year teaching. Michael had an interest in real estate so he got licensed as an agent at the same time he bought his first home. He talks about how he built his business almost entirely through word of mouth and referrals.

 

Because Michael became an agent in 1999, I asked him how he weathered the housing market crash years. He said that because they were getting almost all their business through referrals, they ended up having records years during that period. This is when Michael first knew he was going to have to write a book because he had discovered a system of doing business that worked well in good markets, but even better in depressed times. He spoke about how the 7L system is basically tailor-made for a challenging time like we are facing during the COVID-19 pandemic. We talked about specific marketing and deal-generating strategies based on his 7L principles, going into detail about making your marketing as personal as possible.

 

I then asked Michael about his book, (7L) The Seven Levels of Communication: Go from Relationships to Referrals. He walked us through the levels and their amount of influence in relationships with people. The second-most powerful level involves events and seminars, and Michael explained some of the programs that they offer. That led us to a conversation on the necessity of some structure to your day in order to increase productivity. He used the example of going to school and having an intense focus on a particular subject for a pre-determined amount of time every day. Michael also walked us through the morning and evening rituals, which he imparts in his book and classes through the use of acronyms.

 

Michael then told us about how he helps business owners build their businesses on a foundation of love, generosity, and appreciation. He went into great detail about the personal and professional benefits of choosing to live and conduct yourself this way. Michael described love as our super-power, and generosity is that love in action. He also explained that it is vital for us to appreciate everything that happens in our lives, good or bad.

 

I can’t tell you how powerful and wisdom-packed this episode is! You would be crazy not to join me as I interview super-successful entrepreneur, Michael J. Maher!



 

Notable Quotes:

 

“Good market - referrals are really good. Bad market - referrals are everything.”

 

  • Michael J. Maher

 

 

“When people are thinking they are going to lose their home, they want to talk to someone they trust.”

 

  • Michael J. Maher

 

 

“I’m big into personalized and customized service.”

 

  • Michael J. Maher

 

 

“What is the most important currency in today’s world? It’s not money - it’s trust.”

 

  • Michael J. Maher

 

 

“Love is your superpower.”

 

  • Michael J. Maher

 

 

“What I’m really excited about now is helping people get structure in a world of chaos.”

 

  • Michael J. Maher

 

 

“Why do we charge for them? So people show up. If they have skin in the game, they come.”

 

  • Michael J. Maher

 

 

“There is a lot of people that would trade their wealth for health and happiness right now.”

 

  • Michael J. Maher

 

 

“Energy is the most precious resource known to man.”

 

  • Michael J. Maher

 

 

“You can change your life by changing your strategy.”

 

  • Michael J. Maher

 

 

“We are going to have a day - why not structure it in the most effective way you can possibly structure it?”

 

  • Mike Simmons

 

 

“It mixes the best of ‘go with the flow’ with ‘get in the flow.’”

 

  • Michael J. Maher

 

 

“Your purpose in life is to be referrable.”

 

  • Michael J. Maher

 

 

“Picking and choosing the opportunity is a lot better than chasing opportunity.”

 

  • Michael J. Maher

 




Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

(7L) The Seven Levels of Communication: Go from Relationships to Referrals

Miracle Morning for Real Estate Agents

Matt Walker: Sleep is your superpower | TED Talk - TED Talks

Michael’s Website

Sweet Dreams Class

30 Mornings Class

Referrals Podcast

Flip Hacking Live

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter




In this episode, I am excited to interview Justin Silverio, who is the owner of JS2 Homes and Open Letter Marketing. Justin has been investing in real estate since 2011 with extensive experience in rehabbing, new construction, wholesaling, and multi-family rental properties in and around the Boston area. Justin founded Open Letter Marketing in 2016 with a focus on providing real estate investors with a more effective direct to seller marketing approach than the outdated methods. Justin’s company works with hundreds of investors throughout the country and is recognized as one of the top real estate investor marketing companies.

 

Justin begins by telling us about his background and how he always had a love of houses because his dad was a contractor. The flipping television shows that came out around 2009 really piqued his interest as he was working as an accountant, but didn’t love it. Partnering with his father in finding and rehabbing houses married two of Justin’s passions together - love of houses and of numbers. For the first five years in real estate investing, Justin and his dad were flipping houses while he continued to work his full-time job, also while doing marketing for new properties. We talked about the challenges inherent with the situation, but also how it is possible to make it work.

 

I asked Justin how they funded their first deal and he described the process he went through in order to pitch three regional banks to do business with them. He did his homework, knew what information the banks wanted to see, and put together a five-year business plan to get funding before selecting his first property. 

 

Justin then described what his business looks like today. He went from rehabbing entry-level homes, to mid-level homes, to high-end homes and new construction, to what he is doing today which is primarily multi-family condo conversions. The bulk of his day-to-day business dealings is made up of wholesaling homes while staying involved with the multi-family developments which are more long-term projects. He talked about how competition and profit margin per time spent really drove him to switch his business model.

 

Justin then told us about his company Open Letter Marketing, which was created to provide real estate investors with direct to seller marketing. I asked Justin to describe what their program does better than his competitors and he spoke to the fact that his product looks at the very fine details. With his product, they promote campaigns with a sequence of letters where each letter builds off of the prior.

 

I asked Justin to describe the current project he is working on, software called OLM InvestorHub, which is a lead and marketing management system based on his own business process. It will enable investors to purchase or import multiple lists, identify properties that are on more than one list, and identify the quality of a list once it is imported. Once the lead quality has been identified, you can create marketing campaigns specific to each. Justin talks about the software’s dashboard and how it organizes all of the marketing tools an investor is using and sends reminders to perform certain tasks to keep everything organized and visible to the user. They also have a CRM product that communicates with InvestorHub called OLM DealFlow.

 

Going forward, Justin is concerned with defining a systematic process for his wholesaling business so they can grow and expand. He also talked about looking at the more technical side of direct to seller marketing and how that can influence the direction of Open Letter Marketing.

 

During this interview, Justin speaks about being on the front lines in order to engineer new things to help people get better responses in changing market conditions. This is an incredibly informative episode for helping investors use the most current tools in order to fuel their business and I hope you will join us!



Notable Quotes:

 

“The degree is just the gateway to the world you want to get into.”

 

  • Mike Simmons

 

 

“I know I have something that works much better and there is nothing on the market that offers this.”

 

  • Justin Silverio

 

 

“If a marketing strategy works in my real estate investment business, I’m going to offer it to my customers.”

 

  • Justin Silverio

 

 

“It is almost though you are building a conversation with the seller, and you do it in a specific way so that they are getting to know about you more with each letter.”

 

  • Justin Silverio

 

 

“I’m just trying to create a solution for my own issue.”

 

  • Justin Silverio

 

 

“My goal is to truly make an impact and provide value to as many real estate investors as I possibly can.”

 

  • Justin Silverio

 

 

“How can I create a product to make everyone an expert in marketing?”

 

  • Justin Silverio

 

 

“You end up doing lazy marketing, out of convenience, rather than strategy.”

 

  • Mike Simmons

 

 

“We are trying to build the tools to free up everybody’s time.”

 

  • Justin Silverio

 

 

“Marketing for most investors is just disjointed.”

 

  • Justin Silverio

 

 

“I always want to be on the very front line.”

 

  • Justin Silverio

 

 

“What you are working on is like the oxygen of a real estate company.”

 

  • Mike Simmons

 



Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

7 Figure Flipping

Flip Hacking Live

Open Letter Marketing

OLM InvestorHub

OLM DealFlow

Justin’s Email

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter


In this episode, I am excited to interview Justin Colby who is the Founder and President of The Science of Flipping and Phoenix Wealth Builders. The Science of Flipping is a top-ranked real estate investing podcast and Justin now has a second podcast called The Entrepreneur DNA for those going through the entrepreneurial journey. His real estate investment company, Phoenix Wealth Builders, specializes in purchasing, rehab, wholesaling, and wholetailing properties in the Metro Phoenix Area and they have flipped and wholesaled over 1500 properties to date. Justin has been called a master at finding deals in a market that many say is the most difficult market to be a real estate investor. 

 

Justin began by telling us that he started as a realtor in 2005 and then bought a brokerage with a friend. He talked about how it was almost impossible not to make a lot of money in real estate in the years before the market crash. Being really young at that time, he spent a ton of money, had a really expensive car and condo, which all went away in 2007. He shares how he lost everything and ended up sleeping on his buddy’s couch.

 

Things started to turn around for Justin when he and a friend decided to begin investing in real estate. They ended up using transactional funding for their deals, which was popular at that time, where they would get a deal funded and closed basically simultaneously or same day. I asked if, at this time, he was doing any work on these properties and he said no, effectively what he was doing was wholetailing. Justin talked about setting a goal for himself of calling 100 realtors a day in order to find deals and people to work with, and it took a full nine months before they had their first deal.

 

After Justin talked about his resilience and fortitude in getting some traction in his new business, I asked him to share how he gets his deals. He addressed several different marketing strategies, including pay per click advertising, direct mail, cold-calling and auto-texting, and driving for dollars. Justin also examined the level of seller motivation and relative cost for each, as well.

 

I then asked Justin to describe how he is brokering deals by working with iBuyer companies such as Opendoor and Offerpad. If a deal isn’t attractive to his company for wholesaling, wholetailing, flipping, or even buy-and-hold, he will inquire with his realtor about the price one of these companies will offer the seller for their home and take a portion of the transaction fees if he can successfully hook them up. This is a really creative way of working with them instead of getting swallowed up by them as a smaller investor.

 

We discussed how the COVID pandemic was affecting his business and how he has been able to adapt. Justin says he really prides himself on the ability to stay flexible and make adjustments, if necessary. He talks about how he had refocused his energy on his business after a partnership fell through, and when the pandemic hit, it was actually good timing for him.

 

Justin was incredibly transparent in his business dealings and if you join us I know you will get a ton of actionable wisdom!



Notable Quotes:

 

“The beginning years were the fun ones - when I was broke, busted, and disgusted.”

 

  • Justin Colby

 

 

“Pain is more of a motivator than the carrot.”

 

  • Justin Colby

 

 

“Just talk about what you are doing and people will get excited and gravitate toward you.”

 

  • Mike Simmons

 

 

“Here is my secret sauce - I’m a people person.”

 

  • Justin Colby

 

 

“I just had fortitude - I was willing to endure pain when other people can’t or won’t.”

 

  • Justin Colby

 

 

“I know what I want to achieve and I am relentless in trying to achieve it regardless of when I achieve it.”

 

  • Justin Colby

 

 

“People overestimate what they can accomplish in a year and underestimate what they can accomplish in ten.”

 

  • Tony Robbins 

 

 

“You can get exactly what you want if you are willing to: (a) work for it but (b) have patience.”

 

  • Justin Colby

 

 

“You need to have more than one market strategy going at all times.”

 

  • Justin Colby

 

 

“I have been able to make adjustments and pivot when required, and remained very flexible.”

 

  • Justin Colby

 

 

“The only times I ever got hurt was when I chased money.”

 

  • Justin Colby

 



Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Propstream

TSOFData.com

Fortitude by Dan Crenshaw

Launch Control Text Messaging

DealMachine App

Opendoor

Offerpad

The Score Takes Care of Itself by Bill Walsh

The Science of Flipping Academy FB Group

Justin on Instagram

Flip Hacking Live

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter


In this episode, I have the privilege of interviewing Erik Cabral. Erik is the founder of the media agency, On Air Brands; the innovative networking and podcasting event PodMAX; the real estate investment company Mindado Investment Group; and is host, co-host, and producer on multiple shows, including the Entrepreneurs Circle podcast. With multiple businesses, partnerships, and podcasts Erik is the quintessential “serial entrepreneur” who spends much of his time helping others grow their businesses, brands, and reputation.

 

We began by talking about Erik’s time in the corporate world, working in a creative capacity for Big Pharma, and how he began investigating the concept of real estate investing after being laid-off. He shares how friendly and helpful he found investors while attending events and REIAs, which was very different from the highly-competitive, cutthroat industry he had worked in. Erik took his background in creative work to not only build his own brand as he began investing, but also as a bartering tool to help other investors, which is how he started On Air Brands.

 

Erik then shared the details of his first deal in which he hired a coach who was an established investor in order to help mentor him through the process. His coach took him to all of his rentals, introduced him to all of his tenants, and finally made him run the numbers on the duplex he ended up buying. He ended up using the BRRRR strategy with this property and he says it cash-flows like crazy.

 

Erik talked about how he is more active building his media agency than actively flipping or wholesaling right now. He expressed how passionate he is about helping people sell their home, but how much of his time he had to devote to really do that well. He also talks about the inherent challenges all investors face when rehabbing houses and that didn’t feel like time well spent to him either.

 

I then asked Erik to explain On Air Brands, how it came about and who the company serves. He said that initially, they were doing logos, branding, websites, etc. to help out real estate investors, but it grew as people experienced how professional Erik’s podcast production was and people wanted the same for their own shows. He explained that it all grew from investors who have multiple businesses needing to take their message and their platform into one place.

 

We talked about how diverse Erik’s business interests are and how he is a partner in Renault Winery & Resort, which is the 3rd oldest winery in the US. He talks about what a mess the project was to begin with but how it has turned out to be such an interesting collaboration with people he is pursuing other investments with. Erik talks about how great it is to be working with a “tribe” of people, all focused on lifting one another up and helping each other to be successful.

 

We also talked about the birth and evolution of his newest project, PodMAX. It is a network of podcasting shows, especially in the investing space, who are collaborating in Erik’s office space which has several make-shift podcasting studios. We discussed at length how important networking is, meeting people, and the exchange of ideas being vital to our growth as human beings and business people. 

 

This is a super fun and incredibly informative interview and I urge you to join Erik Cabral and me to take in all of this great actionable advice!

 



Notable Quotes:

 

“[In the corporate world] you are building someone else’s wealth, you’re aligning behind their goals to direct their ship where they’re trying to go.”

 

  • Erik Cabral

 

 

“Mike: Where was most of your real estate knowledge gained?

Erik: It was doing. I had to do it.”

“I had to start speaking the language, and then I had to start offering value.”

 

  • Erik Cabral

 

 

“They are chasing just money, but they’re not even paying attention to what their heart or their brain is telling them about where they should be.”

 

  • Mike Simmons

 

 

“Don’t they need to know you, then like you, and then trust you in order for you to start doing some things together? Well, podcasting does exactly that for you upfront.”

 

  • Erik Cabral

 

 

“Podcasting is part of that - one spoke on the wheel of marketing.”

 

  • Erik Cabral

 

 

“Business owners have to be in the business of media. We all have to realize we are social media marketing engines.”

 

  • Erik Cabral 

 

 

“When you can surround yourself with people who are levels up, you learn so much from them.”

 

  • Erik Cabral 

 

 





Links:

Flip Hacking Live

Rich Dad Poor Dad

Built to Sell

7FF Live Event

On Air Brands

PodMAX

Mindado

Erik on Instagram

Erik on Facebook

Erik on LinkedIn

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months



Direct download: Multi-family_Investing_Networking_and_Learning_from_Mentors.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I have the pleasure of speaking with best-selling author, popular podcaster, and motivational speaker, Rock Thomas. Rock is also the host of the #IAmMovement Podcast. From farm boy to real estate and business guru, mentor, and self-made millionaire, Rock has studied one-on-one with the world’s best teachers such as Tony Robbins, Stephen Covey, and Gary Keller on his mission to inspire others to create their best life, on their terms.

 

After decades of learning from the greatest minds on the planet, working with and coaching thousands of people in his workshops and webinars, Rock now spends his time teaching people how to be financially free and truly happy on their terms whether they work for themselves or others.

 

We began by talking about Rock’s early adulthood and what lead him to his current success. He talked about the incredible range of various jobs that he did, relocating to take care of his ailing father, and then finally, the opportunity to get into real estate by buying a RE/MAX franchise. I also asked him about his childhood and Rock shared the lessons he learned through growing up in a big family on a farm.

 

We discussed how our upbringing can both diminish and fuel us to be successful. Rock was so open about how the way he was brought up challenged his sense of worth but also drove him to be a better person. He continues to struggle with a sense of belonging but has worked very hard to overcome these adversities, even though he knows they made him strong and resourceful.

 

We talked about the mastermind groups that Rock has been a part of: GoBundance was created for men who choose to live bigger and more fulfilled lives of impact. It's a framework to strengthen your journey in becoming a better man, husband, father, friend, and entrepreneur. It's the place men come together to live EPIC lives; and M1, a community of positive, energetic people to help people march toward financial freedom.

 

I then asked Rock to tell us how he organizes his day for success. He loves to start his day with yoga, and then at the beginning of the week, he spends most of his time with podcasts, sales training, basically online, virtual-world tasks. He works Monday, Tuesday, and Wednesday and then takes the rest of the week off. For Rock, the most important things are to be spending his time doing what he loves with the people he loves. We talked about health and wellness, working out, and eating right, with Rock sharing some of his personal tips. 

 

I asked Rock about the time after he sold his RE/MAX franchises and went on a personal quest for wellness and what that looked like. He talked about discovering the Ultimate Edge program by Tony Robbins and getting more focused on living his true values. Rock talked about being a passionately curious student with some of the biggest names in the self-help industry.  

 

We then talked about the books that Rock has written and what motivated him to write them. He talked about experiences from his youth that labeled him and the efforts to change his thinking to transform his life. Rock gives us so much wisdom that he has learned through his many life and business experiences.

 

I hope you will join me as I talk with uber-successful entrepreneur, Rock Thomas! This was an incredibly open, honest, and motivating interview that will shift your mindset and change your life.




Notable Quotes:

 

“I started doing things my own way and that is the longest way to learn.” 

 

  • Rock Thomas

 

 

“It got me focused, man - I was dialed in, I was paying attention.” 

 

  • Rock Thomas

 

 

“Sometimes people underestimate the power of fear. Nothing will make you focus like being afraid.”

 

  • Mike Simmons

 

 

“Your net worth will never go up more than your self-worth.”

 

  • Rock Thomas

 

 

“Every day I got up and before I served any of my clients, I went and got new ones.”

 

  • Rock Thomas

 

 

“It is the life-blood, what is feeding your business.”

 

  • Mike Simmons

 

 

“The greatest gift I got was learning how to be incredibly resourceful.”

 

  • Rock Thomas

 

 

I ‘Macgyver-ed’ it - you use what is available around you.”

 

  • Rock Thomas

 

 

“To me, there is always a path, always a way.”

 

  • Rock Thomas

 

 

“I learned that mindset, growing up on a farm, which is incredibly valuable.”

 

  • Rock Thomas

 

 

“To make excuses and look for reasons why things won’t work is not my playbook.”

 

  • Rock Thomas

 

 

“I created a mastermind, a group of men, just so that I could belong to my own group.”

 

  • Rock Thomas

 

 

“I’m the CD, you are the MP3. You take the best from me and your mother and you become a better version.”

 

  • Rock Thomas, to his kids

 

 

“The intention and the lessons were sound, even if the delivery was somewhat lacking.”

 

  • Mike Simmons

 

 

“Do what is easy and life will be hard; do what is hard and life will be easy.”

 

  • Rock Thomas

 

 

“For every disciplined effort, there are multiple rewards.”

 

  • Rock Thomas

 

 

“What are other ways that you can meet your levels of fulfillment without damaging your body?”

 

  • Rock Thomas

 

 

“What you focus on creates feeling.”

 

  • Rock Thomas

 

 

“When you learn something, apply it, integrate it.”

 

  • Rock Thomas’ father

 

 

“I wasn’t starting the engine, I was just putting gas in the car.”

 

  • Mike Simmons

 

 

“My ability to capture the essence of what I learn and apply it at a level of mastery is what separates me from the average person.”

 

  • Rock Thomas

 

 

“You can change any label through repetition.”

 

  • Rock Thomas’ mentor

 

 

“You are responsible for your inner narrative.”

 

  • Rock Thomas

 

 

“If you are bathing in the cesspool of mediocrity that the media is offering you, you are probably going to feel like sh&t.”

 

  • Rock Thomas

 

 

“The obstacles that are going to appear are all designed to grow you personally.”

 

  • Rock Thomas

 

 

“Work diligently to get to a place where you have time-freedom so you can do the stuff that really matters.”

 

  • Rock Thomas

 




Links:

Flip Hacking Live

GoBundance Mastermind

M1 Mastermind

7FF Live Event

Awaken the Giant Within

Ultimate Edge Program

The Power of Your Identity: The Secret to Creating Lasting Change  

Your Epic Life Blueprint: Quit the Rat Race and Create a Happier Life!

Rock Thomas’ Website

Rock Thomas on Facebook

Rock Thomas on Instagram

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months




In this episode, I have the pleasure of interviewing fellow podcaster and popular blogger, Sharon Vornholt, who is the owner of Innovative Property Solutions in Louisville, KY. Sharon owned and operated a successful home inspection business for 17 years, while also investing part-time. Sharon was originally a rehabber and a buy-and-hold landlord, but when the market crashed in 2008, she became an “accidental wholesaler” and full-time investor. Sharon is also the creator of the Louisville Gals Real Estate Blog, and the popular podcast “Let’s Talk Real Estate Investing”. Sharon hosts several live events each year and is a regular speaker at other events across the country.

 

We began by talking about Sharon’s start in the real estate investing world. It all began for her when her friend took her to an REIA event… Sharon knew then that real estate was what she was meant to do. In the early days, Sharon learned a lot about different types of deals based on her own business needs, very similar to my own start in investing.

 

We talked a lot about different types of markets, the down-turn in 2008 compared to the current situations, and how to make money during all these periods. Sharon spoke about working with investors and how each had a different model, but by getting to know their criteria, she continued to be successful as a wholesaler.

 

I then asked Sharon about her Louisville Gals Real Estate Blog and the circumstances surrounding starting that up. Sharon said she started it in 2010 and her podcast, “Let’s Talk Real Estate Investing,” followed shortly thereafter. Through these two platforms, she discovered that her real passion was teaching people about marketing and branding in order to generate leads for real estate investing. This was also the time she discovered probate investing.

 

Sharon gave us some valuable information about the process involved with probate investing. If there is property included in a recently deceased person’s estate, the family needs to sell the property before the debts are paid and the assets can be dispersed. Sharon talked about how these families really need help and can be very motivated sellers. She also discussed the circumstances she takes into account and accordingly, adjusts her marketing and outreach.

 

We talked a little bit about how the current coronavirus pandemic is affecting Sharon’s business, specifically, and real estate investing generally. She said probate is largely immune to market fluctuations, but that there will be a backlog of probate deals available because of the closure of the court system. Sharon also talked about the course that she has put together, called “Probate Investing Simplified,” where she walks people through all of the terminologies and the entire process of probate investing. She also provides tons of bonus material, including detailed marketing letters, so that anyone who completes the course will be a probate investing expert.

 

I hope you will join me as I talk with this super impressive investor who is practically oozing integrity - Sharon Vornholt!



Notable Quotes:

 

“Real estate is all about the numbers.” 

 

  • Sharon Vornholt

 

 

“You can be a real estate investor in any market cycle.”

 

  • Mike Simmons

 

 

“Buy-and-hold landlords never quit buying… it is like an addiction.”

 

  • Sharon Vornholt

 

 

“If it cash-flows, they are all-in.”

 

  • Sharon Vornholt

 

 

“Your model isn’t everybody else’s model.”

 

  • Mike Simmons

 

 

“I realized I need to stop trying to predict what people will do and just put properties out there.”

 

  • Mike Simmons

 

 

“The real estate investors that I know that have had success - they are just willing to jump in and do it.”

 

  • Mike Simmons

 

 

“You don’t need to know how to negotiate if you don’t know how to get deals.”

 

  • Sharon Vornholt

 

 

“Real estate investors go tone-deaf when you say the word ‘branding.’”

 

  • Sharon Vornholt

 

 

“Marketing is how you get leads, but branding is why they choose you.”

 

  • Sharon Vornholt

 

 

“You just have to stay in the game - direct mailing is a long-term play.”

 

  • Sharon Vornholt

 

 

“I’m all about the situation - how to not upset people, but to help them.”

 

  • Sharon Vornholt

 

 

“This is just continuing on a trend lately, certainly on this show - good people.”

 

  • Mike Simmons

 

 

“I may be leaving money on the table, but I keep my integrity.”

 

  • Sharon Vornholt

 

 

“You are coming from a position of helping them with an actual problem, and not how much money you are going to make.”

 

  • Mike Simmons

 

 

“You have to be able to look at yourself when you wake up in the morning, and you are not going to be able to do that if you take advantage of someone who doesn’t know any better.”

 

  • Mike Simmons

 

 

“People get so focused on the money that they abandon their ethics for the quick transaction.”

 

  • Mike Simmons

 

 

“People just want to be heard.”

 

  • Sharon Vornholt

 

 

“They’re selling their memories, their childhood - you just have to understand where they are coming from.”

 

  • Sharon Vornholt

 

 

“Probate is immune to market conditions.”

 

  • Sharon Vornholt

 

 

“You are a legitimately kind person who cares about the way you do business.”

 

  • Mike Simmons

 




Links:

Flip Hacking Live

Let's Talk Real Estate Investing

Louisville Gals Real Estate Blog

Sharon's Website

Probate Investing Simplified

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Mike’s Email

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months



Direct download: Mastering_Probate_and_Marketing_with_Sharon_Vornholt.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I am honored to interview Kevin Bupp, who is the Founder & CEO of Sunrise Capital Investors, which invests in mobile home parks, parking lots, apartments, offices, and single-family homes all across the US. He has 16 years of experience in educating investors to locate, acquire, and create “higher than average”  returns from the widely misunderstood niche of mobile home park investing. He shares his expertise through the Mobile Home Park Academy and also as the host of The Real Estate Investing for Cash Flow and The Mobile Home Park Investing podcasts, which have become two of the hottest real estate podcasts on iTunes.

 

Kevin told us about his background and how he first came to real estate investing. He talked about his family’s humble beginnings and the various things he did to make money so he could buy the things he wanted. Kevin described the relationships that first lead him to real estate investing, going to his first boot camp, how he felt coming out of it, and how he made his first deal at the age of 20.

 

I asked Kevin what he looks for in a good deal and he talked about the importance of sound economic fundamentals in a particular market. He also looks at the area’s policies concerning landlord and tenant laws to make sure they are win-win for both sides. His financial goals include the ability to hold each property and realize a certain level of return on investment initially and throughout the life of the investment.

 

I wanted to get the details about investing in mobile homes, so I asked Kevin specific questions about this niche of the real estate market. He said they own properties all over the country and normally purchase the entire mobile home complex, but a small percentage of their overall portfolio are individual units, as well.

 

Kevin discussed his history in real estate investing, starting with single-family and multi-family investments before the housing market crash in 2008. After his business was severely hit at this time, he took a couple of years to re-evaluate the type of property he wanted to invest in going forward. Kevin developed a relationship with a very successful mobile home investor and it really influenced the direction he decided to go next.

 

Kevin then talked about the specific advantages and challenges of being in the mobile home space. The points he makes about the perception of mobile homes, the issues involved with communities building new communities, and the progression of surrounding developments are super compelling and informative. We discussed some of the details concerning new investors and this type of investment, too.

 

Kevin described how mobile home parks are remotely managed, either from an office on the property itself or if the community is smaller, from a manager’s home office. These managers perform similar functions to managers of more standard types of properties - collecting rents, handing out late notices, and sometimes representing them in court, if necessary. They then have a district manager who the individual managers report to who regularly visits each property.

 

Having invested in all different types of real estate, this episode with super successful and exciting investor Kevin Bupp provides a ton of actionable and practical wisdom and I hope you join us! 



Notable Quotes:

 

“Real estate found me - I didn’t find it. I am very blessed and grateful for that coming into my life because I don’t know what I would be doing otherwise.” 

  • Kevin Bupp

 

“A real paycheck gave me a taste of that freedom, of paving my own way..”

  • Kevin Bupp

 

“I did whatever I could to hustle and make a dollar.”

  • Kevin Bupp

 

“At my first boot camp, I met a lot of people that I didn’t feel were any smarter than me who were doing big things in the real estate space.”

  • Kevin Bupp

 

“The quickest way to get ignored is to ask for something without giving anything in return.”

  • Mike Simmons

 

“Learning by first giving.”

  • Mike Simmons

 

“We need to know we are comfortable with the worst-case scenario.”

  • Kevin Bupp

 

“If you want to scale a business, you have to be open to where the deals are.”

  • Kevin Bupp

 

“I went on a journey examining what went wrong, what don’t I want to do again, and how can I rebuild.”

  • Kevin Bupp

 

“I don’t have that big of a stomach - I would rather buy something that is more tried-and-true.”

  • Kevin Bupp

 

“It’s all about getting educated - you need to learn the intricacies of that investment vehicle.”

  • Kevin Bupp

 

“Go network, get to know others that are in your space.”

  • Kevin Bupp

 

 “The seller objections for a mobile home park purchase are not that dissimilar to any other type of real estate.”

  • Mike Simmons

 

“It’s a really weird transition where you say, ‘We need more people, but we can’t afford more people.’”

  • Kevin Bupp

 

 “I like to be proactive with my hiring.”

  • Kevin Bupp

 

“The companies that get smarter and leaner and stronger will come out of this pandemic better.”

  • Mike Simmons



Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Kevin Bupp's Website

Mobile Home Park Academy

Sunrise Capital Investors

Real Estate Investing for Cash Flow with Kevin

Mobile Home Park Investing Podcast with Kevin

7FF Video Vault

Return on Investments

Just Start Real Estate

JSRE on Facebook

Mike on Facebook

Mike on Instagram

Mike on LinkedIn

Mike on Twitter

Mike’s Email



Direct download: Mobile_Home_Park_Investing_with_Kevin_Bupp.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I am joined by Kyle and Kirk Burnett who are twin brothers that invest in real estate together. Kyle lives in Cincinnati with his wife and two girls and has been investing in real estate for three and a half years. Kirk moved to the Dominican Republic five years ago to work as a missionary, where he met and married his wife. Now he works remotely full-time with the Burnett Group while still volunteering at the non-profit organization.

 

We talked about what they were both doing before getting into real estate investing and what roles each of them play now in their company. While their primary investing market is Cincinnati, they are currently working on expanding into another market. Kyle and Kirk discussed their respective roles, hiring help, and the details of remotely handling deals.

 

As Kyle and Kirk expand into this new market, they are going to test out the remote business model by utilizing less costly marketing strategies, such as texting and cold-calling, rather than direct mail.

 

I asked them to describe their business operations and any of the tools they are using to be more successful. Kyle and Kirk talked about a couple of the apps they use (see links for more information) and spoke about the importance of communication between team members. We also discussed the advantages and disadvantages of closing deals over the phone.

 

We talked about what we might do differently if we were starting over with a clean slate today. Kyle and I both said we would definitely start with flipping houses, but Kirk said he would begin by wholesaling so he could stay in the Dominican Republic and continue to work in ministry. Both said how valuable being part of a mastermind group is and how much they value the relationships and shared information.

 

I hope you will join me for this super down-to-earth and informative interview with the Brothers Burnett!



Notable Quotes:

 

“We are going to go for some of the low-hanging fruit to prove the model.”

  • Kirk Burnett

 

“We are full-steam ahead in the new market (regardless of the pandemic).”

  • Kirk Burnett

 

“Something like the pandemic happening tests your business - are there holes in your game?”

  • Mike Simmons

 

“Too many people are playing defense and are fear-based in what they are doing.”

  • Mike Simmons

 

“Don’t make this an excuse not to be successful.”

  • Mike Simmons

 

“Here ya go - boom. Quarantine, COVID, now what? You can curl up in a ball and die, or you can figure out your path forward.”

  • Mike Simmons

 

“You have to get over your unreasonable or unfounded fears.”

  • Mike Simmons

 

“Imagine the talent you can pull from if you open up your hiring to anywhere.”

  • Mike Simmons

 

 “I do enjoy the flipping aspect of things and I don’t think that is something that will ever go away.” 

  • Kyle Burnett

 

 “I love where I am at, and more importantly, I love the organization and ministry that I serve with and the kids I serve for. That is my number one priority and I wouldn’t do anything to sacrifice that.”

  • Kirk Burnett

 

“You’re just good people, man.”

  • Mike Simmons

 

“Take action. Now.”

  • Kyle Burnett

 

“You don’t want to have the regret of not taking action.”

  • Kyle Burnett

 

“Anybody that is ready to jump in, find a mastermind as quickly as possible.”

  • Kyle Burnett



Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

2nd Mile Missions

Traction

12 Week Year

7 Figure Flipping

Slack

Whatsapp

Google Drive

Burnett Home Buyers

7FF Video Vault



Direct download: Flipping_and_Wholesaling_Remotely.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I talked with Palak Shah, who is the founder and owner of Open Spaces Capital that generates over $1M in revenue. She brought her knowledge and 17 years of experience in building systems, processes, and scaling from her corporate career in engineering leadership to fast track her real estate investing journey. In her first two years investing full-time, she purchased, renovated, rented, and refinanced properties creating a $4M rental portfolio. It is now her passion to empower other investors to pursue entrepreneurship through real estate investing to live a financially free life without taking undue risks or over-leveraging through her coaching program at Open Spaces Women.

 

We began, as we often do, talking about Palak’s background and what brought her real estate investing. She worked as a mechanical engineer in the corporate world for 17 years, traveling all over the world, loving her career, but when she had kids, everything changed. She had less and less time to spend with her family as she climbed the corporate ladder, and that left her feeling resentful and wanting something more. By the time she decided to leave her corporate job, she and her husband had already invested in a couple of rental properties, and she started to get her footing as an investor with those.

 

I asked Palak how she transitioned from her full-time job into real estate investing. She walked through how she analyzed the feasibility of working from home while raising her kids rather than remaining in her corporate position. We talked about how vital it is to have the support of your spouse as you move into a venture, especially when investing money.

 

Palak discussed different investing strategies she utilizes in her real estate market of Philadelphia. She primarily employs the BRRRR (buy, rehab, rent, refinance, repeat) Method to grow both her portfolio and passive income. Palak talked about different ways she ‘supercharges’ that particular strategy.

 

I asked Palak if she is at all interested in other types of real estate investing such as wholesaling or flipping and she talked about how that would require her to expand her skill-set which would defeat the whole purpose of why she got into REI in the first place - to spend more time with her children. She is willing to spend money to hire a reputable wholesaler, agent, or general contractor so that she doesn’t have to spend the time learning those tasks.

 

Then we discussed how Palak finds her deals. She starts off by saying it does take some time and effort to build a good deal pipeline, but it begins with cultivating good relationships. She works with wholesalers and has done several deals with a realtor, but she still often finds workable deals on the MLS. We talked about how important it is in working with realtors to train them to the specifics you are looking for as an investor and how you run your numbers.

 

Palak then walked us through a deal she did that ended up cash-flowing $3500 per month. She says she loves the property because so many positive things came out of doing that deal, such as completely revamping the neighborhood and even helping a neighbor to start a business.

 

Palak said that since they figured out this super-charged BRRRR strategy she really wants to help other investors, especially dual-income families trying to raise kids. She has started a coaching program and has a new cohort beginning June 6th that you can check out by visiting https://www.openspaceswomen.com.

 

I hope you will join me for this terrific and super-informative interview with brilliant engineer-turned-real estate investor, Palak Shah!



Notable Quotes:

 

“I felt like a lie had been sold to me - you are told ‘get an education, establish your career, have kids, and everything will be fine,’ but it’s not like that because everything gets really complicated.”

  • Palak Shah

 

“I wanted to make an impact and do something meaningful, but I wanted to do it on my own terms.”

  • Palak Shah

 

“When it was time to figure out what I was going to do next, buy-and-hold investing seemed like the best option.”

  • Palak Shah

 

“When we were a family with two incomes, we just thought of real estate investing as a way to park our money.”

  • Palak Shah

 

“Working from home during the pandemic may open people’s eyes to the fact that they don’t want to go back to the corporate grind.”

  • Mike Simmons

 

“Companies may need to take notice and be more flexible.” 

  • Mike Simmons 

 

“Is this why I gave up my life, so you could grow up and eventually quit your job?”

  • Palak Shah’s Mother

 

“It is underrated how important it is to have a spouse that supports you.”

  • Mike Simmons

 

“When it comes to investing, that is a couple’s decision to make together.”

  • Palak Shah

 

“You have to figure out how to meet in the middle so you can achieve the best for your family.”

  • Palak Shah

 

“There is just so much information out there, so I wanted to make sure I learned the business properly, and once that was done, there was no stopping me.”

  • Palak Shah

 

“The BRRRR strategy allows you to take a finite amount of funds and grow a portfolio exponentially.”

  • Palak Shah

 

“As you get better at any strategy, you are able to have better margins.”

  • Palak Shah

 

“My ‘why’ is to have more time with my kids.”

  • Palak Shah

 

“Knowing what you want and going after just that - there is a lot of power there.”

  • Mike Simmons

 

“It’s the shiny object syndrome.”

  • Mike Simmons

 

“The key is to really know your property avatar.”

  • Palak Shah

 

“For an investor interested in the BRRRR strategy, you need to know two things: can I cash out and can I cash flow.”

  • Palak Shah

 

“With worst-case scenario planning, ask yourself: is that an amount of money you are comfortable losing to learn all the things you will learn from that deal.”

  • Palak Shah

 

“I have learned a lot from deals where I lost money.”

  • Mike Simmons




Links:

7 Figure Flipping

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Palak Shah's Website

Palak Shah on Instagram

7FF Video Vault

 


In this episode, I am joined by Amanda Han. As a CPA, tax strategist, and real estate investor, Amanda Han combines her passion for real estate investing with her expertise in tax tactics. Her goal is to help investors with tactics designed to supercharge their wealth-building using entity structuring, self-directed investing, and income offset opportunities to keep more of what they make.

 

Amanda begins by giving us a little bit of her background. She talks about how both her parents and grandparents were real estate investors but encouraged her to follow the more traditional route of getting an education, followed by a good job. She began her accounting career at Deloitte, just by chance, in their real estate specialty group. She realized very quickly some of the tax benefits her investor clients could take advantage of, increasing their income while not necessarily working a ton of hours.

 

Amanda explained that the majority of real estate investors are not aware of the tax strategies available to them. She pointed out that it isn’t necessarily anyone’s fault but that the tax codes are written in a convoluted way. Reaping tax benefits requires very specialized knowledge for each and every industry.

 

I asked Amanda to explain a little about what is going on with the tax situation during the current COVID-19 pandemic. She said as part of the Cares Act pandemic relief package, the new filing deadline is July 15th. Most of the states are following these guidelines, and Amanda recommended getting more information from AICPA State Tax Filing Guidelines.

 

I wanted to find out Amanda’s recommendations for newer or smaller investors on when a good time is to begin working with a CPA and employing tax strategies. She said it was important for even brand new investors to consult advisors in order to form to proper legal entities necessary for both tax benefits and protection, and also how to use them effectively.

 

I asked Amanda to explain a strategy that I have recently become familiar with which is cost segregation. She said first that one of the things that is so attractive about real estate investing is the depreciation that can be claimed no matter how much is put down on the house or other factors. Cost segregation is just the next level of this type of tax advantage. It involves defining all of the components of a particular investment property, not just the building itself. Some of these components may be eligible for an immediate deduction, providing the possibility of taking a higher deduction upfront rather than having everything depreciate over the standard timeframe.

 

Amanda went on to explain strategies that could benefit some types of real estate investors but not others, giving specific examples. She also gave some great, practical advice on how to determine whether an individual’s tax advisor was helping employ these strategies.

 

I then asked Amanda about the charity that she and her husband and business partner, Matt, formed named Animals for Armed Forces Foundation. The foundation helps to place shelter animals with current or retired servicemen and women. Normally on Memorial Day and Veteran’s Day each year they will work with local shelters to place animals in military homes for free, while the foundation pays for any necessary fees. Amanda talked about how rewarding it is to receive pictures of these pets in their new homes with their forever families.

   

We then talked about the two books they have written on tax strategies for real estate investors (see links at the bottom). She said that she and Matt read a lot of books about taxes benefits for investors and found them difficult and dull to read and wondered how people who were not CPAs would get any useful information from them, so they wrote their own books to help people find strategies that could help them. The first book is story-based about specific successes and mistakes made by investors and provides actionable, easy-to-understand advice about various tax schemes.

 

If you are like me, you may not know much about taxes, but please join me for this interesting, motivating, and believe or not, fun interview with tax expert Amanda Han!




Notable Quotes

 

“I think there is a misconception that investors think they only need to work with a CPA or an attorney when I have ‘X’ number of rentals.”

  • Amanda Han

 

“It is more transaction-focused rather than a number of rentals in terms of who could benefit from tax planning.”

  • Amanda Han

 

“In the tax world, there is never a one-size-fits-all strategy.”

  • Amanda Han

 

“In the spirit of Michael Scott, now say it like I am a four-year-old.”

  • Mike Simmons

 

“Flipping burgers - not nearly the upside of flipping houses.”

  • Mike Simmons

 

“Our firm specializes in proactive tax planning.”

  • Amanda Han

 

“We have people whose tax preparer is their father-in-law… you can’t fire your father-in-law.”

  • Amanda Han

 

“We always recommend this team-of-advisors approach, where we are all working together.”

  • Amanda Han

 

“I like talking to people that do good things, good people who aren’t just business, business, business, cutthroat - people who care.”

  • Mike Simmons

 

“I don’t like not knowing, but I just don’t know, so thank you for telling me your book is basically for dummies.”

  • Mike Simmons

 

“Our goal in writing the book was to show people what can be done.”

  • Amanda Han



Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Keystone CPA Facebook

Keystone CPA Website

AICPA State Tax Filing Guidelines

Animals for Armed Forces Foundation

The Book on Tax Strategies for the Savvy Real Estate Investor

The Book on Advanced Tax Strategies: Cracking the Code for Savvy Real Estate Investors

7FF Video Vault




For this episode, I interviewed friend and fellow 7 Figure Flipper Dana Mace. She begins by talking about her background and how she began in real estate investing. Dana said that because her step-dad owned one of the largest, privately-owned real estate businesses in Virginia, investing this way was just part of their family culture. She bought her first property at the age of 21 years old and hasn’t looked back since.

 

Dana was born and raised in Virginia Beach and this metropolitan area is where her business is focused. She and her husband started their newest company, Ubiquitous Properties, with the goal of scaling their flipping business to 60 each year. Dana explained that they picked the name Ubiquitous because it means “omnipotent; all over, everywhere” and that is their objective. We discussed the markets in our prospective areas and what an average deal sold for.

 

We talked about different strategies for getting on wholesalers’ lists and what was really successful for Dana in her market. She also shared with us how she evaluates her deals. Dana also gave us an idea of the key people she wants to have as part of her team so that she can scale up to a particular level.

 

Dana shared some of the struggles she has been dealing with this year, but how determined she is to push through and make her business succeed. In order to raise some capital, they pulled off a 7-day flip, and Dana describes what that experience was like.

 

Next, I wanted Dana to talk about why she started her YouTube channel and what its purpose is. She said that she thinks that the best way to scale something and to learn is just to talk about it. She had initially intended to show a lot of before and after house-flipping situations but was encouraged to put on more varied real estate content, as well.

 

Join me for this super fun, upbeat and honest interview with fiery real estate investor Dana  Mace!



Notable Quotes

 

“I knew that real estate was the thing to go into.”

  • Dana Mace

“If anybody wants a tip, tell them to buy real estate.”

  • Dana Mace’s Stepdad

 

“I have been very fortunate to have people surrounding me my whole life that know a lot about real estate so that I have been able to learn and grow.”

  • Dana Mace

 

“I knew I wanted to do something cool with my life and something cool with my money.”

  • Dana Mace

 

“I just wanted to flip it. I am just flip-happy sometimes.”

  • Dana Mace

 

“No one understands completely how well you are doing because you are just a ninja and crushing it, just doing your thing and not making a big deal about it.”

  • Mike Simmons

 

“When life “lifes” on you, what are you gonna do?”

  • Dana Mace

 

“Life makes its move, and sometimes it feels like ‘Check.’ It is only ‘Checkmate’ when you give up.”

  • Mike Simmons

 

“Find the people that are good at things that you are not.”

  • Dana Mace

 

“The number one thing that has made the biggest difference in my business is getting out of my own way, realizing what I wasn’t good at, quit lying to myself about it, and bring someone in that could handle that for me.”

  • Mike Simmons

 

“What does scaling really look like to me? Being better tomorrow, a little bit better than what you were today.”

  • Dana Mace



Links:

7 Figure Flipping

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Dana’s YouTube Channel

7FF Video Vault

Direct download: Scaling_a_Flipping_Business_and_Investing_in_Multi-Family_Properties.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I had the pleasure of interviewing multi-family property investor Teghena (Tenny) Tolofari. Prior to establishing Xsite Capital Investment in 2019, Tenny spent several years leading a major sales force in one of the fastest-growing financial services companies in America. He is also a Global Cyber Security professional supporting the likes of Boeing and Deloitte. Tenny’s major role is building relationships with brokers, property management companies, and investors to ensure the success of their property investment business.

Tenny began by sharing the story of his humble beginnings as a child in Nigeria. He was initially very insecure about his abilities and did not do well in school. Because of the class system in Africa, Tenny realized the only way he could break out of the poverty of his youth was to immigrate to the United States. He made a bet with his mother in which she told him she would find the means to send him to graduate school in America if he could finish college with high honors. That motivated Tenny to get to work and accomplish this goal.

Upon arriving in the States, Tenny began his graduate degree in Management Information Systems at Virginia International University and then transferred to Bowie State University. After graduation, even though he had great jobs and was able to bring his family over to the U.S. from Nigeria, he continued to ask himself, “What’s next?” He then began to learn about finance and it opened up a whole new world to him.

Like so many other budding entrepreneurs, Tenny started self-educating by reading Rich Dad Poor Dad and Rich Dad’s Cashflow Quadrant by Robert Kiyosaki. He found that the financial service platform gave him the opportunity to start his own business and work with others with more experience. During this process, he met his partner, Leslie Awasom. After discovering they were reading many of the same financial freedom books, they began their working relationship by meeting at a brewery to play the Cashflow 101 Board Game. Because Leslie already had a real estate investing company, they decided to merge their business efforts in January of 2019.

Tenny talks about how both he and Leslie were very invested in educating themselves and went to many financial and real estate boot camp and mastermind events. They decided they were going to focus their real estate ventures in the multi-family market and bought their first property, a 192 unit apartment building in Marietta, Georgia. This year, they are looking to expand these efforts.

I asked Tenny how he feels when he hears people born in this country talk about how they don’t have the same opportunities as others and can’t afford to improve their situation. Tenny said it used to make him mad because he believes those are just excuses for not improving yourself, but then realized you can only be who you surround yourself with. We discussed how important it is to appreciate and use what you have and encircle yourself with good people. Tenny talked about the sacrifices he had to make, yet how driven he was to succeed.

Tenny then explained what syndication is because that is what he primarily deals with in his business. He explained the difference between the two business classifications that they have, 503B and 503C, as far as dealing with investors. He also detailed why they decided to go into multi-family real estate investing rather than other options. He gave several examples of the advantages of owning multi-family including spreading out expenses such as management companies and adjusting for vacancies. Tenny also detailed their philosophy for finding and funding deals.

We talked a lot about different ways to build relationships and how important this is in real estate investing. Tenny said one of the strategies that they have when trying to enter a new market is to talk to the property management companies first in order to get an in with the big brokers in that area. 

I hope you join me as I get to know this dynamic investor and fantastic human being who built a successful real estate business from nothing with self-education, hard work, and desire!

 

Notable Quotes:

 

“You can only be what you surround yourself with.”

  • Tenny Tolofari

 

“Everyone has the opportunity - it’s just how badly do you want it and what are you going to to to get there.”

  • Mike Simmons

 

“I know what I want. I didn’t want that life, like so many of my friends back home, that are struggling to take care of their family.”

  • Tenny Tolofari

 

“A lot of people don’t appreciate what they have. They just don’t understand.”

  • Tenny Tolofari

 

“Gratitude and perspective are things that can help people change.”

  • Tenny Tolofari

 

“People change due to two things: desperation or inspiration. Mine was both.”

  • Tenny Tolofari

 

“I’d never done commercial real estate before… I just had to put myself out there and learn.”

  • Tenny Tolofari

 

“And this is one of my superpowers that I know God blessed me with - I can pick up the phone and call anybody.”

  • Tenny Tolofari

 

“It’s got to be deeper than that… you’ve got to mean it.”

  • Mike Simmons

 

“There’s a lot of things going on in the world right now, a lot of people are scared, but you don’t stop, don’t freeze, keep moving.”

  • Tenny Tolofari




Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Rich Dad Poor Dad

Rich Dad’s Cashflow Quadrant

Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future

MONEY Master the Game: 7 Simple Steps to Financial Freedom

Robert Kiyosaki’s Cashflow 101 Board Game

Tenny’s Website

Tenny’s Phone Number: (202) 569-5072

7FF Video Vault



Direct download: From_humble_beginning_to_success_in_multifamily_investing.mp3
Category:general -- posted at: 3:30am EDT

For this episode, I have invited four of my friends and fellow real estate investors to talk about their specific market experiences thus far during the COVID-19 pandemic. I asked each of them to introduce themselves and tell us a little bit about their business.

Adam Rae lives in Colorado Springs and operates his business in southern Colorado. His business works in wholesaling, flipping, and rental properties.

Andy McFarland lives in Utah and is also involved in wholesaling, flipping, and owns rentals in three different markets:  Salt Lake City Utah, Albuquerque, NM, and Indianapolis, Indiana.

Jeremiah Johnson runs his business remotely from his home just outside of Denver and does primarily wholesaling in the markets of Wichita and Kansas City.

Terry Burger does business in the markets of Atlanta Georgia and Greenville, South Carolina, performing primarily flips.

We began by discussing our different states and markets and the limitations we are seeing with the varied stay-at-home orders and how that has immediately affected our businesses. With the US economy impacted so severely by the pandemic, we all shared our projections about the real estate market going forward. We also considered how the different facets of the business could be influenced by the response of buyers, sellers, and lenders. We talked about different ways we have all implemented some cost-saving measures internal to our businesses, as well.

This episode is filled with “actionable intelligence” that will benefit investors of all kinds, in any state of business development.

 

Notable Quotes:

 

“History does not repeat itself, but it often rhymes.”

  • Mark Twain

 

“Real estate is the local perception of a national opinion.”

 

“Our asset class is looking pretty sexy right now.”

 

“We’re not going back to living in tents anytime soon.”

 

“Real estate is a slow-moving animal and you aren’t going to miss the boat if you don’t buy something tomorrow.”

 

“I think your grandma’s economics still work here… live on less than you make, invest the difference, have cash reserves, have staying power.”

 

“I wrote down “actionable intelligence” - I absolutely love that and need to make it part of my vocabulary.”

 

“It is important to develop empathy and not ego through this.”



Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

7FF Video Vault

7 Figure Flipping

Adam Rae's Website

Andy McFarland's Website

Jeremiah Johnson's Website

Terry Burger's Website



Direct download: Real_Estate_vs_Coronavirus_-_Round_Table_Discussion.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I interviewed Will Brown, who is a 20-year-old real estate investor and tech entrepreneur who dropped out of college in May of 2018. Since then, he has run and built a team from scratch without any outside funds to go on and do over 90 deals and $900,000 in assignment fees in less than 2 years. He has since handed the reins of the wholesaling business off to a partner and is 100% focused on building his AI tech startup in Los Angeles. He is massively into personal development and supports others in carving their own path and creating themselves into who they want to be.

Will began by summarizing what brought him to real estate. He and his mom attended a mastermind event in the Fall of 2016, but they didn’t have the money to invest, so that left a little bit of a bad taste in his mouth. In January 2017 he was playing a video game that let you buy and cash flow real estate, and he thought that learning about it for real would be a lot more interesting than sitting on his couch! His first google search on the subject led him to a BiggerPockets podcast, and there was no stopping him from there.

Will started investing by cold-calling off of a probate list and putting himself in the proximity of other real estate investors. He offered his services, in the case of his first deals, by installing security systems in order to learn from other investors. We discussed how you can’t start any kind of relationship by asking for what you need first. Will talked about the need to know your skill-set, and the willingness to work hard for someone else without concern about the outcome in order to learn and grow.

Will gave a detailed description of his first solo deal, and he describes the challenges he faced. He talked about the importance of having a great lawyer and how he managed different aspects of the deal that were new to him. He feels like he learned so much from this first deal and the mistakes they made will never be repeated.

Will described how they find their deals, and talks extensively about building a team. He hired an assistant in the Fall of 2018 and was able to scale his business exponentially because he was able to spend his time more effectively. It helped him so much to have someone to help him do the things he wasn’t particularly strong at.

Will provided the list of technology he currently uses to find deals and the listeners can find these links further down in these show notes. He speaks in-depth about his sales funnel and what he has found to most effectively convert leads to deals.

I asked Will to explain what he is involved in now and how he found a partner in order to run his real estate business. He talked about paying his partner really well in order to keep him and put him on a tiered commission schedule in order to entice him to stay. His partner is now running the real estate completely on his own with minimal interaction with Will.

Will is now completely invested in launching an artificial intelligence company in Los Angeles, which he conceived in a Cabo San Lucas hot tub while at a business mastermind event. His concept is grown from the question of how to provide resourcefulness to humanity because if you solve one problem, another is created. In order to address this, Will is working on creating AI personal assistants for people to help people in problem-solving and life balance.

You have to check out this super energized interview with up-and-coming entrepreneur, Will Brown. He gives a ton of great advice based on a solid foundation of respectable values, along with being an extremely entertaining interviewee.

 

Notable Quotes:

 

“Not to say, do this: step, step, step. But it gave me the inspiration of ‘Hey, this guy has done this before,’ and it kept adding proof that yes, this is possible.”

  • Will Brown

 

“I had the drive of setting up the blueprint of my life and laying out the foundation now, not only in acquiring assets but also learning to be a leader, learning to delegate, learning to fail forward, how do you do this, how do you do this... ”

  • Will Brown

 

“You’ve got to love the process. You know, all the crap you have to go through to get it. If you are focused on the results, you are not going to get it.”

  • Will Brown

 

“So what Will did is he basically decided he wanted to be around people who were doing real estate. And you offered your services, you offered to be of value to them. You didn’t say, ‘Show me how to do it, help me start my business, me, me, me.’ Instead, it was like, ‘what can I do for you?’ and then oh, by the way, I get to be around you when you do this.”

  • Mike Simmons

 

“Number one, you are going to be uber-successful. Not because of whatever result you create there, but because of that mindset. That you are willing to give and give and give and give without any expectation in return, but knowing that it comes back.”

  • Will Brown

 

“You had a problem and you figured it out. It’s like chess. It’s like, ‘Check’ and then you move out of that position and you clear the board a little bit.”

  • Mike Simmons

 

“People that try to do it themselves because they are in a scarcity mindset - you are not going to scale if you are just doing it yourself.”

  • Will Brown

 

“Once that shift happens and you get it so viscerally, you can’t go back. Because if I just went back to real estate, I would always be wondering what could be.”

  • Will Brown



Links:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Will on Instagram

Will’s Website

Investor Fuse CRM

Spokeo Research Tool

Call Rail Automated VM

Lead Sherpa Auto Text

7FF Video Vault



Direct download: 900000_revenue_and_90_deals_by_the_age_of_20.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I had the pleasure of interviewing buy-and-hold real estate investor Henry Washington. I asked Henry to kick things off by sharing his background and what brought him to this type of investing. He said that getting married and the talk of starting a family really changed his mindset about his lifestyle and how he was going to support a family. Like so many others, his real estate journey began by reading Rich Dad Poor Dad by Robert Kiyosaki.

 

Living and working in NW Arkansas, Henry started by just telling everyone he knew that he was a real estate investor and came upon his first deal this way. He then started a marketing campaign by sending postcards and found three more deals. I was really curious about Henry’s first marketing strategy and he explained that he wanted to stay away from what everyone else was doing in order to find a niche market

 

Without having any background in construction, Henry talked about how he first started estimating rehab costs. He created a square-footage-based spreadsheet with costs for each discipline he found straight from Google searches. He eventually met and partnered with a guy who had a very strong construction background who proceeded to evaluate properties for him. This partnership allowed Henry to scale his business at a much faster rate.

 

I wanted to focus on the subject of partnerships with Henry for a bit and I asked him to talk about the elements that were contributing to the success of his partnership. He stressed the importance of shared values and vision and also attributes such as integrity, honesty, and the desire to help people. He also emphasized the importance of open communication in minimizing conflict and successfully working together.

 

Henry has his values listed on his website and I especially wanted him to define what he means by “servant leadership.” He talked about the importance of focusing on helping people and then success will follow. He believes the more you lead by serving, the more contagious that behavior will be. He recognizes the deals he is getting is because people have a situation and it is vital to him to meet them where they are and make the situation beneficial to both parties.

 

We then shifted gears to talk about lessons learned by dealing with contractors. Henry talked about the importance of having a detailed scope of work upfront so that he did not waste time talking with contractors that were never going to take the job anyway because of the state of housing market. He also worked extensively with his partner on honing his cost spreadsheet so that he could basically dictate the price of any construction work. Henry talked about the importance of keeping his valued contractors happy so he could establish long-term relationships.

 

I know that many real estate investors struggle with finding deals, so this was the next topic I asked Henry about. He said his most lucrative deals are currently coming from his lead generation website that he runs a Google ad words campaign on.

 

As far as Henry’s advice for people just starting in this business, he said after someone has done their due-diligence of self-educating, he advises them to focus their resources on figuring out their market and what a good deal looks like before deciding on a lead-generating strategy. The next step is learning how to properly evaluate properties once they have leads. Henry is convinced that focusing on these three things in order to buy a good deal, is the key to success in this business. Using these principles, Henry continues to grow his business while still having a full-time job in the IT industry. 

 

Henry is a great guy, with a ton of character and depth, so I hope you join us for this newest edition of Just Start Real Estate!

 

Notable Quotes

 

“I never saw real estate as something I couldn’t do - I just didn’t know what I didn’t know.”

  • Henry Washington

 

“Being a landlord is easy. I couldn’t fix it if I wanted to… I gotta call a guy.”

  • Henry Washington

 

“You heard what people were doing and decided to do something different.”

  • Mike Simmons

 

“The scale you can get when you have more people helping you - there is a multiplier there.”

  • Henry Washington

 

“You learn really quick in this business, it is not a real estate business, it is a people business.”

  • Henry Washington

 

“I need to be a solution to your problem.”

  • Henry Washington

 

“It is funny how it works out - the people that focus on helping folks end up having more financial success.”

  • Mike Simmons




Links:

7 Figure Flipping

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Rich Dad Poor Dad

BiggerPockets Pro Member

Henry on Instagram

Henry’s Website

7FF Video Vault



Direct download: 40_doors_in_2_years_while_working_full_time.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I interview buy-and-hold real estate investor Erin Helle. Erin begins by giving us her background and what brought her to this type of investing. She began her career in the military, first attending West Point Academy and then serving on active duty. Because her husband was also in the service, they knew that both of them being on active duty would be short-lived as they planned to start a family. She resigned her commission after about eight years of active duty to participate in the Army Reserves but was released when the Army discovered she had a heart condition. Upon leaving active duty, she began to explore real estate as a way to earn an income and be present for her family.

 

Since she did not have her own team at that point, Erin decided that any property requiring rehab wouldn’t work for the first go-around. Erin’s first deal, in May of 2018, was purchasing a newly constructed house, still in the process of being built. What she got was a completely rent-ready property, where she went directly from closing to meet her new tenant with keys.

 

Here I talked about how I had never heard of anyone getting into this industry by paying full-asking price for a newly constructed house, found on the MLS, but that is what is so great about real estate! There are so many ways to do it and be successful.

 

For her second deal, Erin pursued a flip property, which she and her dad did much of the work themselves. She talks about having learned so many lessons having to do with building relationships with contractors, budgeting, planning, and especially the selling process. The ability to close on the finished property proved to be a little difficult because of the demographics of the area that it was in. Erin knew she had so much to learn, felt like she had exhausted avenues for learning, and thought just getting in there was the best way to move forward.

 

Having a construction team upfront was one of the biggest lessons she learned from this project. When trying to contract certain aspects of this project out, she found that contractors would either not show up to bid the job, or would be awarded the job and still not show up. Erin also found that some portions of the job were way more costly than she anticipated and had budgeted for. Learning the timing and order of how the individual construction tasks were performed was also very enriching for her.

 

I then asked Erin what her primary investment strategy is and how she thought the current COVID-19 situation might affect that. She said she doesn’t plan to do any flips soon, but that she is always looking and open for new opportunities. She doesn’t think her rental market is going to be adversely affected by the quarantine situation and doesn’t think she will have to use any type of government assistance that may be available to her. I also shared my thoughts about this unusual situation and I talked about a video I saw that compared the real estate market now to the housing crisis in 2008 and how it was affected after 9/11.

 

I also wanted to find out how Erin finds her deals, so that is what we discussed next. She talked about the importance of KPIs (key performance indicators) and doing them consistently to see results. We discussed how her business model is more relationship-based than through paid marketing.

 

Erin then talked about the challenges of running her business remotely and how important it is to have a good team in place in each investment location. We talked about the necessity of a checks-and-balances system to keep everyone on task and doing good work. I commented that I could have an hours-long podcast on how to find, hire, train, and maintain a good team!

 

In regard to this, Erin talked about the systems she has in place to run her business. She said it is very simple, driven mostly by spreadsheets and contracts. This helps her to keep both herself and her teams on task and the expectations are very clear from the beginning.

 

I asked Erin what she would do differently if she could wipe the slate clean and use all the lessons learned to start her real estate business again, and she said she would not do anything differently. She believes strongly that any set-back she has experienced has contributed to the person she is and the business she is running.

 

Join Erin and me for a great interview featuring super actionable advice on both buy-and-hold and find-and-flip real estate investing!



Notable Quotes

 

“Sometimes the more you know, you can get in your own way.”

  • Mike Simmons

 

“I learned what a release of lien meant in that [first flip property], so that was huge.”

  • Mike Simmons

 

“It’s just resourcefulness, dealing with the situation and figuring out how to get through it.”

  • Mike Simmons

 

“If you have the will to get there, you will figure out a way.”

  • Mike Simmons

 

“Water finds a path.”

  • Mike Simmons

 

“[Flipping] is not what I’m supposed to be doing. It is a way to make money, but it's not contributing to my end state.”

  • Erin Helle

 

“I’m encouraging listeners to figure out what they want to do because that’s half the battle.”

  • Erin Helle

 

On systems: “I don’t think you need to have a fancy system or pay for a platform, I think you can do it in a notebook if you wanted to.”

  • Erin Helle

 

“I wouldn’t do anything differently. Everything that I have learned and every step I have taken backward has contributed to the person you see now and the business you see here.”

  • Erin Helle

 

Links:

7 Figure Flipping

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Erin on Facebook

Erin on Instagram

Erin's Company Website

Erin's Email

7FF Video Vault



Direct download: building_a_legacy_through_buy-and-hold_rei.mp3
Category:general -- posted at: 3:30am EDT

In this episode, Coach Mike Venos joins me to talk about several life lessons he has learned through over 35 years of coaching kids of all ages. Mike has been the Head Swim Coach at Brother Rice High School for 22 years, Mercy High School for 4 years, and Beachwood Recreation summer club for 17 years. In the time that he has served as the head coach for these teams, they have captured a combined nine Class A / Division I State Championships and 24 Catholic League Championships. He has coached 14 individual and 15 relay-team State Champions, over 50 All-Americans, and two United States Olympic Trial qualifiers. 

 

Mike has received many local, state, and national accolades during his very successful career, is a member of the Catholic League Hall of Fame and will be inducted into the Brother Rice Hall of Fame this spring. In addition to coaching, he teaches Theology at Brother Rice.

 

Due to everything currently going on in the world concerning the COVID-19 pandemic, my goal with this show is to glean some wisdom for people in dealing with challenges. I started the interviewing by asking Mike why he thinks some people rise to challenges and some shrink from the same opportunities. Through interacting with his students and athletes he said you find out how much you can push them, the kids that are willing to go the extra mile, who is hungry to succeed, and who is born with innate ability take on difficulties. He said certainly these attributes can be innate to a person’s personality, or sometimes can be drawn out of them.

 

We discussed how sports are such a great forum for allowing people to make mistakes and learn from them. We also discussed the role of parenting in producing people who are more resilient human beings and how different parenting is today then it was when we were kids.

 

We backed up a bit to explore Mike’s background. He told me his dad was in sales and his mom was a Religious Education teacher, and how he got into swimming because his dad told him he wasn’t going to sit on the couch waiting to play his primary sport, which was baseball. Even though joining the swim team was not his first choice, he learned to love the sport for several reasons. He said it is a sport that you absolutely get out of it what you put into it, and because it is individual in nature, there is no hiding behind a talented teammate. With his love for the sport, he began coaching, which very naturally led him into teaching. He talked about how his upbringing helped develop creativity, which helps him find different ways of interacting with and reaching his athletes and students.

 

I then wanted to explore some of Mike’s coaching philosophies. He had given me several famous quotes he lives by and we proceeded to walk through those. First, he said that it is very important to have a philosophy and not just a plan based on Bear Bryant’s quote, “Show class, have pride, and display character. If you do, then winning takes care of itself.” That led to a lengthy discussion about having your values as the foundation for everything you do and then formulating a plan from that core. A person’s ethics and morals don’t change based on circumstances, but if you make a plan before examining what you believe in, that could lead to dishonorable or damaging decision-making. We discussed how important a person’s character and integrity it is and how much easier it is dealing with people of virtue.

 

Coach John Wooden famously said, “Things work out best for those who make the best of how things work out.” We discussed the importance of not trying to control the uncontrollables. Mike said that sometimes finding out what you can and cannot control can be difficult, but it vital to keeping your stress level low, enjoying life and succeeding. We discussed how appropriate this message to our current world situation and the wide range of people’s reactions to social distancing and quarantine mandates.

 

Coach Venos then talked about trusting the process and his own personal motto of “It’s not about winning but being the best” which is born out of Pat Summit’s famous quote of, “Our emphasis is on execution, not winning.” Regardless of your business, it is important to stick with your philosophy and goals, be flexible when required, but trust in your abilities, in the work you have put in, and that things are going to work out. We need to take the perspective that life is a journey, keeping the big picture in front of you, even when faced with obstacles. 

 

We talked about the New England Patriots system and how they built a dynasty on trusting the process, even while not having the most talented players and having to adapt to different strengths.

 

The quote of, “Get comfortable being uncomfortable” attributed to the Navy Seals led us into a conversation of the Seal officers we know and many of their admirable qualities, especially in times of challenge. The ability to rise to the current challenge and to look at obstacles as opportunities rather than some kind of punishment is essential at this time and as we approach an uncertain future. We pointed out how this time of forced isolation was actually a gift - a time to engage with our families, deepen relationships, and reevaluate our priorities. 

 

Coach Venos’ convictions may be born out of a lifetime of teaching and coaching, but they are applicable to all industries, age-groups, and walks of life.


Quotes:

“I like to surround myself with and hire people who have athletics in their background. People who have been on a team, because they typically know what it means to work hard to get something and to sacrifice for the betterment of others.”

  • Mike Simmons

 

“You don’t let the goal define who you are.”

  • Mike Simmons

 

“How people appear on paper is not as important as what they are made of.”

  • Mike Simmons

 

“You can make a good kid fast, but not necessarily a fast kid good.”

  • Coach Venos

 

“Most of my philosophies are not original… you have to look at successful people and emulate them.”

  • Coach Venos

 

“How many times do we ask for a reset button?”

  • Coach Venos

 

“If we keep dwelling on the negative aspects, we are going to miss these opportunities that are right in front of us.”

  • Coach Venos

 

“People are making decisions right now out of fear that are not in their best interest.”

  • Mike Simmons

 

“Good athletes don’t rise to the occasion, they fall back to their level of training.”

  • Coach Venos (a variation on Navy Seals quote)

 

“Every boo on the road is a cheer.” 

  • Scotty Bowman

 

“You have to reframe challenges as opportunities.” 

  • Coach Venos

 

“It is a time to re-form family bonds and reinforce all the relationship in our lives.”

  • Mike Simmons

 

Links:

Coach Mike Venos

Jocko Willink

7 Figure Flipping

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Coach Bear Bryant

Coach John Wooden

Coach Pat Summitt

Coach Scotty Bowman

Navy Seals



Direct download: Highly_successful_coaching_and_leading_teams_to_greatness.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I am joined by Chris Arnold. Chris is the Co-Founder of COSA Investments, one of the largest wholesale companies in the DFW Metroplex. COSA is operated and managed by a US virtual team which has allowed Chris to run his company while living in Tulum, Mexico. He is also the founder of Arnold Elite Realty which is a cutting-edge boutique brokerage consisting of a team of seasoned agents. Most recently Chris has launched his REI Radio coaching program. This program is designed to teach real estate investors the marketing stream that everyone knows about, but NO ONE is doing!

 

Chris contends that having a real estate business can afford people freedom of time, freedom of resources, and freedom of location. Even though he started traditionally by representing buyers, Chris soon branched out and has become very successful in one of the most cutthroat markets in the country.

 

As we are currently in a sellers’ market, the real estate business is very competitive, but people who are building their businesses now are in great shape and poised to really thrive. This is why I wanted to talk to Chris about his business processes and how he promotes and grows his business.

 

I asked Chris to explain to me his business flow from the point of when they first get a lead. He used the analogy of the bus. You have all the seats on the bus that need to be filled (referring to positions that need to be filled in your company), but as the boss you have your butt in each one. As a leader, Chris said quickly find that you need to “fire” yourself as quickly as possible from each seat by finding a more qualified person for that particular spot. This can be humbling, but is necessary for him to be able to operate his business at the visionary level.

 

Chris stressed that they have had to develop really good systems for every aspect of their company’s process, and he pointed out that EVERYTHING is a system, even a routine as simple as getting up in the morning. Some processes they have implanted which have proven to be very successful are answering calls live and not allowing them to go to voicemail, having their prospecting assistants pre-qualify leads, and upon discovering a hot lead, the call is transferred automatically to the acquisition manager. They do this using Grasshoper software and you can find the website link at the conclusion of these show notes. Chris said they do not contract any properties without first doing an inspection, so the acquisition manager will recommend which ones need to be scheduled. They employee their own inspector, so the whole process can be complete within 48 hours. Whenever possible, the acquisition manager will complete the deal over the phone, again to decrease time delays and increase scalability.

 

When I expressed surprise at their company’s ability to close deals over the phone, Chris said it all starts with belief. People in this business need to overcome the myth that you have to meet in person and begin to develop their skills for connecting with people over the phone. Of course, he says it is not black and white and that older people may need a handshake and smile, but even if 50% of their business is done over the phone, that markedly increases their scalability.

They employ two full-time people responsible for closings and pushing deals through the title companies, and a director of dispositions who is solely responsible for re-selling properties.

All of this allows them to boast of a contract to close period of 23-25 days, when most companies are more in the range of 50-75 days.

 

I then asked Chris how they are finding your leads and he talked about the four marketing pillars they concentrate on: online marketing, direct mail, co-wholesaling, and their most effective strategy, radio ads. Chris pointed out some interesting facts about radio ads including how there is virtually no competition in this medium, it is cutting-edge for finding property, it is a trusted vehicle for advertising, and fits well with their target audience of consumers 50+ years old. They have found that when you advertise on radio you have instant credibility and achieve something akin to celebrity status. After quite a lot of split-testing, Chris has found that they get far more leads with the ads he has recorded himself versus using someone well-known, with a recognizable voice.

 

I asked Chris to tell me about some of the lessons they have learned about radio advertising in the nine years they have been using it. He said the biggest thing is that people automatically assume they cannot afford it, but like with real estate, they do not pay retail for airtime. Chris says the key is to do research and find the pertinent reports on a station in order to negotiate effectively. Like anything else, being an intelligent buyer is incredibly important.

 

We then discussed other ways of finding deals, including co-wholesaling. We compared our experiences and stressed that it is about control. I talked how in my company we require the other person needs to stop marketing the property and cannot accept other offers after our company takes control of the contract. This is so important in maintaining good relationships with other people. Chris talked about how they are always proactively building relationships with other wholesalers in what he termed the “learn/earn model.” Other people will bring him deals and he will educate them along the way, because they stress the importance of caring about growth of others and how it adds a lot of value to their own business through networking.

 

Chris has found that the return of investment for radio ads is now similar to what it used to be for direct mail. There are a couple of advantages to utilizing radio rather than other methods, such as it is not list-dependent, is low-maintenance, and it hits a wider audience. I asked him how often he changes is radio ads and surprisingly he said they have basically run three ads in nine years. Again, split testing shows the repetition of a precise message becomes hypnotic and is very effective.

 

Chris spoke about how people who are new to radio can get intimated because of all variability, but like he stressed earlier in the show, it works to your advantage when you can hire someone experienced in this arena. His company has branched out into assisting others in exploring and getting started with this type of marketing. Chris said those who are interested in are welcome to visit his website at wholesalinginc.com/reiradio and book a consulting call. He finished up by stressing how important it is to figure out what works in this competitive market and to differentiate yourself, doing the little things that matter so much to achieve success.

 

Notable Quotes:

“The driver [of working in this business] is always freedom and what we can do with that freedom.”

- Chris Arnold

 

“Living the Caribbean life was something I always dreamed of being able to do.”

- Chris Arnold

 

“You can have the business that you want, where you want, in this industry.

- Mike Simmons

 

“The flip side of that pain [being in a competitive market] is you are going to see some of the greatest innovation come out of that market. This makes you really good at what you want to do.”

- Chris Arnold

 

“I’d rather take a fast nickel than a slow dime [wholesaling vs. flipping].”

- Chris Arnold

 

“I like the velocity of wholesaling.”

- Mike Simmons

 

“What we sell and beat out others on is professionalism.”

- Chris Arnold

 

“Just do the things you can control.”

- Mike Simmons

 

“Radio: marketing source that everyone knows about and no one is using.”

- Chris Arnold

 

“We buy our radio like we buy our real estate: at a discounted, wholesale prices.”

- Chris Arnold

 

“Anyone who has experienced high-level success, they stood on the shoulders of someone else and learned from them, whether it is an athlete or an entrepreneur.”

- Mike Simmons

 Links and Resources:

Rich Dad Poor Dad

https://grasshopper.com

https://www.wholesalinginc.com/reiradio/

Direct download: Using_radio_ads_to_fuel_your_Real_Estate_business.mp3
Category:general -- posted at: 3:30am EDT

In this episode, I’m joined by Andy McFarland. Andy is not only a successful investor and mentor, but also a close personal friend. He and I have traveled together as members of the 7 Figure Flipping Mastermind, and his stellar character and willingness to encourage others to succeed have aided him in his journey to becoming a self-made expert in the world of real estate.

 

I first asked Andy to talk about how the world of investing has changed in the last 5 years, the strategies he’s implemented, and the lessons he’s learned. First, and most importantly, Andy emphasizes the necessity of authenticity within the business. This applies not only to your customers, but your employees, or as Andy calls them, his team. We discuss the (understandable) tendencies of newcomers who are looking for that hidden gem or technique that is sure to help them rise to the top, forgetting that being genuine is what really ensures success. 

 

Andy talks about the dangers of cramming sales techniques down the throats of your customers and how that always ends in disaster. 

Of course, profits matter. Sales matter. But people matter much, much more.

 

In this business, it’s not uncommon to have high turnover rates. Andy and I agreed that our teams look much different than they did in the beginning, and more often than not, for good reason. People tend to move on to new avenues and adventures, and what was right for them at a previous time may not be in the future. Andy’s business and team have both changed in big ways since their origin, and he’s grateful for the lives he’s been able to touch every step of the way. 

 

Andy also advises leaders to never forget to stay current. He told the story of his struggle to push through a period of frustration with his team, who wasn’t implementing certain strategies he was advising. They were never unreceptive, but he noticed that they weren’t attempting the encouraged methods. In hopes of understanding their resistance, he went back into the field himself and discovered quickly that the game had changed. His employees had adapted to the new industry, and he had failed to keep up. When he began reconnecting with sellers, he began to feel the benefits of this human element for the first time in a long time.

 

We then dove deep into the blessings of what we do, and why we do it. As a man of faith, Andy believes that God has used his position in this business to meet true, human needs. He recalled a incident of a seller who was in deep, financial decline. Some investors, Andy says, may have been tempted to walk away from the deal, fearful that the investment wouldn’t be worth their while. Others may have even taken advantage of this man’s desperation. However, Andy chose to show grace and compassion. He listened to the man, and worked alongside him to make a plan that would help him to pick himself up. Though the money made from this investment wouldn’t be outrageous, humanity took precedence and Andy was able to bless this family in a way that only he could, simply because he took the time to listen.

We ended the discussion on the issue of comparison. Many step into this business with a hope of having more time for what matters to them: time with loved ones, things you enjoy, etc. However, they fall into the never-ending circle of wanting more simply for the sake of having more. When people have a 1 million dollar company, they then want a 10 million dollar company, and then a 100 million dollar company, and so on. Making more money almost always leads to spending more money if you’re not wise, and won’t bring satisfaction like knowing that you live a life loving others well and impacting them positively.

 

Andy is the guy in our 7 Figure Flipping Mastermind group that we call “the rabbit” because people are always chasing after him for the big secret of success, or simply because his realness is so attractive. Give this episode a listen to hear his best-advised tactic, which really isn’t a tactic at all. 

 

For more information on our 7 Figure Flipping Mastermind group, feel free to contact me and I’ll make sure to get you more information.




Notable Quotes:

“What have I learned over the years? The people matter. The people matter in all aspects of the business. Your business is your people.”

-Andy McFarland

 

“What I want most is have an impact on people’s lives. Not a thousand people’s lives. I want to have an impact on one person’s life, one at a time. And if that happens a thousand times great.

-Andy McFarland

 

“There are few people I know in the industry who truly do right by people intentionally and for no gain… or leverage. I think people need to hear that.”

-Mike Simmons

 

“I’m not at all saying don’t try to make money and grow your business, because you should, because you can do more good that way. But I think building a company that provides income for those who work for you feels better than closing a deal.”

 –Mike Simmons

 

“Find good people, treat them well.” 

–Mike Simmons

 

“We all feel better when we serve people.” 

–Andy McFarland

 

“The problem is, in the beginning, people are so freaked out about getting a deal that they go in there with that energy and they struggle.”

-Michael Simmons

 

Money amplifies what you already are. It won’t change your life. It will just make you more of what you already are.”

-Andy McFarland

 

“The reasons why people are unhappy it all boils down to comparison.”

-Michael Simmons

 

Links and Resources:

https://7figureflipping.com/

https://fliphackinglive.com/

Elite Homebuyers

Rich Dad Poor Dad

The Total Money Makeover

 

Direct download: Being_a_good_person_and_success_in_business.mp3
Category:general -- posted at: 3:30am EDT

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