Just Start Real Estate with Mike Simmons

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

 


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