Just Start Real Estate with Mike Simmons

Today’s guest is Anthony Eisenman, who works in enterprise sales for Fortune 100 companies. Eisenman grew up in a single-parent family and felt that more traditional career paths were closed off to him but was attracted to the idea of working in sales because of the possibility of being paid for his performance via commission. Through hard work and diligence, he leveraged himself into a position of owning stock options in major corporations and has built up his own brand to teach others his methods. 

 

Mike and Anthony begin by discussing how to increase your income. Eisenman’s first piece of advice, particularly for those who currently only work for one organization and who may have a fixed income, is to negotiate with your employer to be paid based on performance. Although this brings an element of risk, Eisenman underlines that this will give you the opportunity to prove your value to the organization. Once your value has been demonstrated through excellent performance, you are then in a better position to negotiate for greater rewards, including equity. 

 

Anthony then outlines his checklist of systems to put in place before creating multiple streams of income or pursuing a passion project. Firstly, it is important to ensure that you are excelling in your primary source of income, meaning that you have maximized your earning capacity in this role. Secondly, this role should operate like a well-oiled machine with a firm system and defined processes in place, giving you the capacity to open yourself up to investing time and energy into other sources of income.

 

When launching a secondary revenue stream, Anthony highlights the possibility of receiving pushback from your company or entourage. When he began to work for himself, colleagues questioned his commitment to his job and his time management capacity. However, Anthony ensured that he continued to achieve highly so that his performance and production would speak for itself. 

 

Anthony then deep dives into his personal motivation to achieve. Whilst he used to be motivated by his ego and the idea of proving people wrong, today he is more inspired by the idea of creating a legacy for his family to give his children the comforts he never had. The memories of his former financial struggles have stayed with him and continue to push him forward. Mike also affirms how the fear of failure can be a strong push factor towards achieving financial success, since a push away from financial hardship can be just as strong a motivator as the pull factor of the desire to earn wealth for your family.

 

Mike then questions Anthony about the steps that he took to build his brand, and Anthony explains that the first step that he took was to invest in coaching to learn about real estate and to create a personal brand. Initially his goals for his side businesses were low as he wasn’t under pressure to achieve immediately, and this allowed him to develop and grow gradually. Anthony chose to add a short-term real estate business to his portfolio as a way to involve his family in his business, as his wife could take over the furnishing and property management aspect of the business and in the long term, his children may also become involved with property management too. 

 

Lastly, the conversation turns to Anthony’s personal brand, which aims to help people improve their sales strategies to earn the income they deserve. He has numerous books and coaching products covering topics from cold calls to the art of persuasion to the blueprint to wealth creation. These resources represent a philosophy of lifelong learning in order to improve yourself and your position in life. No matter what stage you’re at, there is always room to grow and learn and those who don’t take that opportunity will stagnate. 

 

Don’t miss this enlightening episode of Just Start Real Estate, and stay tuned to the end to find out how to get free learning resources from Anthony Eisenman so that you can learn his secrets to success!



Notable Quotes:

 

“If you can prove yourself by being paid based on your performance, you’re going to earn a higher income and have a higher ceiling, and you can prove yourself to be valuable.”

  • Anthony Eisenman

 

“Don’t ever be afraid to lose what you have now in order to gain even more.”

  • Anthony Eisenman

 

“I did get pushback internally from my organization and it just made me press the gas that much harder.”

  • Anthony Eisenman

 

“Everybody deserves to do some things they’re passionate about on the side. You don’t have to dedicate 110% to your organization. You can have some time to do some things on your own.”

  • Anthony Eisenman

 

“If you get lazy, then your goals aren’t big enough.”

  • Anthony Eisenman

 

“Part of my motivation, aside from my family, is fear of failure.”

  • Mike Simmons

 

“Once I make a decision to do something, I take action right away.”

  • Anthony Eisenman

 

“The people that get over the hump and don’t quit are the people that make it.”

  • Anthony Eisenman

 

“I don’t need the plan, I just need the next actionable step. The plan will unfold as you take action.”

  • Anthony Eisenman

 

“The short-term rental game is great because you can get into it in so many different ways.”

  • Anthony Eisenman

 

“If you’re not consuming information to try to better yourself, I hope you love exactly where you are right now because that’s where you will be in 20 years.”

  • Mike Simmons





Links:

 

Anthony on Facebook

Anthony on LinkedIn

Anthony on Instagram

Master Cold Calling In Five Easy Steps

The Science of Persuasion

My Sales Mentality

Anthony Eisenman Coaching Program

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




Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Facebook Live Question and Answer sessions. I just started doing these live forums in April and they are going so well and I am getting such great feedback and questions, I thought I would share them here on the podcast. Especially for those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more! Some of the questions have been very real estate specific, but others have been general business questions, like asking about overcoming fear in order to get started and how to successfully scale. I have also received more personal questions like how I decided real estate investing was right for me and the steps I took to get my business off the ground.

 

This presentation is the live Q&A that I did on August 4th and each week on Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!




Notable Quotes:

 

“My guess is you can’t sell your flip because you bought too high, your renovation went over budget, and now what you need to sell it for is more than the market can bear.”

 

“Flip Hacking Live is quite unique in that it is three days of non-stop on-stage presenters who are giving you actual step-by-step processes and breaking down their businesses in a way that is usable and actionable.”

 

“The presenters at Flip Hacking Live just give and give and give away all their secrets.”

 

“Going to Flip Hacking Live is the smartest thing you can do this year.”

 

“NOW is the right time.”

 

“If I was a full-time house flipper, I would have several realtors looking for houses for me all of the time.”

 

“It is very hard to find good investment properties on the MLS right now.”

 

“I am pretty careful to do a phone interview first when hiring. If I don’t like the person on the phone, I doubt I will like them in person.”

 

“How hot the lead is determines the follow-up strategy.”

 

“The more you do to a house to stage it, the harder you are making it for the potential buyers to see their stuff in there.”

 

“I believe in my heart if everyone read Extreme Ownership by Jocko Willink and applied the philosophies, mindset, and attitude he outlines, our world would be exponentially better.”




Links:

Real Estate Find & Fund Blueprint

Flip Hacking Live

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




My guest today is Adam Zach.  Adam has a magnificent obsession with learning and with real estate. He works 10 hours per week as a professional engineer but dedicates most of his time to family, learning, and building up his real estate businesses. The business that allowed him to semi-retire is his niche in rent-to-own investments and creative financing by buying homes for people who can’t qualify for a traditional bank loan. He currently holds 26 properties in 5 different states.

 

Adam first shares his background story and how he got into real estate. After college, Adam worked a high-paying job as an engineer. He was living the American dream. But pretty soon, he started getting the itch, he started to wonder about financial independence. During this time, he looked into many different things but eventually, he decided that real estate is the way to go. However, he didn't completely cut ties with his 9-5, he still works 10 hours a week as a professional engineer. 

 

We then move on to discussing the first property Adam bought. He shares that the very first property that he bought was kind of an accidental purchase. He bought a house with his college roommates so that they could have a place to live in and party. But once he learned about property appreciation three years later, he decided to turn it into a rental as opposed to just selling it. He then started to educate himself more and together with his wife decided to invest more into real estate. 

 

Next, we talk about what exactly Adam is doing in this industry that is different. He refers to his business model as “Set Your Rent”. At first, he would tell college students to pick a home off the MLS that they wanted to live in, and he would buy it for them as long as they paid the 1% rule. This was a way of him getting a property that was turnkey as opposed to buying a property that needed to be fixed up. He then noticed that after a year or two, college students would leave and the market rents would be a bit lower. So, he then decided to find people instead of finding properties. Most of the time it's entrepreneurs or people with no credit or poor credit and he uses the same concept. He either does rent-to-own or a contract for deed and this is what really helped explode the growth of his business and accelerated the path forward. 

 

Adam then explains the difference between rent-to-own and a contract for deed and which one he prefers. As a landlord, Adam first checks if there is a city inspection required and if it is, he then uses the contract for deed route, because then he is not obligated to meet all the requirements. But from the standpoint of taxes, and every other purpose, a rent-to-own is a better option because a contract for deed gets charged as an interest income whereas a lease option is still a rental, so you get the depreciation and you're acting more like a landlord in that situation. On the other hand, when he’s trying to buy a piece of property, he prefers a rent-to-own option because it’s much more flexible 

 

Eventually, we dive into discussing some of the cracks that Adam noticed in his model so far. He shares that their biggest obstacle so far was Covid. The pandemic caused financial issues to some of their tenants but luckily they were able to come up with different payment plans to avoid eviction and foreclosure. To avoid these situations, Adam’s company screens potential tenants as a landlord but also as a bank using a third party. They also make sure that their payment is not more than one-third of their income. 

 

Lastly, Adam shares some of the concerns he had when he was first starting out. His main priority was to make sure that they were not taking advantage of people. This is why he always makes sure to ask his clients if they tried to get a bank loan first. He also advises his clients to try different banks as well as credit unions and mortgage brokers. He knows that this option is probably the most expensive for his clients, but it comes with many different benefits that his clients are seeing as a higher value. 

 

Make sure you don’t miss this amazing episode of Just Start Real Estate with Adam Zach and learn how to find deals in a new way that is not being talked about!

 

Notable Quotes:

 

“I think sometimes it's good, even for us real estate investors, to realize we're business people at the end of the day, so I think bringing outside industries and talking about how they do things can be valuable.”

  • Mike Simmons 

 

“You start getting the itch and looking out the window a little bit longer each day. You kind of start thinking - what does financial independence look like?”

  • Adam Zach

 

“I think it all started by just getting really curious and having a large enough unhappiness meter to be like - you know what, I'm going to do something about it.”

  • Adam Zach

 

“You will get punched in the mouth from time to time in business and if you don't want it bad enough, you will not get back into the ring.”

  • Mike Simmons 

 

“I feel like real estate is almost the ultimate game where if it’s heads, I win and if it’s tails, I break even. And that is a fantastic gig.”

  • Adam Zach

 

“Every minute you spend overanalyzing, somebody else has already gotten the deal anyway.”

  • Mike Simmons



“Our goal is to never turn someone down, but just give them terms that make them want to improve themselves.”

  • Adam Zach

 

“If you're an entrepreneur listening to this, just because you were told “no” by one bank, it doesn't mean a different bank will say “no.” Talk to a big bank, talk to a local credit union, and talk to a mortgage broker.”

  • Adam Zach

 

“Let's just try to educate the world so that maybe they can find themselves, get some freedom, or get into this so that they can then go and help other people.”

  • Adam Zach

 

“Most successful people I've met in this industry are some of the most generous, honest people who sincerely want to help.”

  • Mike Simmons 

 

“I have given people advice for free and I've given people advice they had to pay a lot for. And the people who pay for the advice tend to listen and act and execute at a higher level because they value it.”

  • Mike Simmons




Links:

Set Your Rent

Set Your Rent on Instagram 

Set Your Rent on Facebook

Set Your Rent on Youtube 

Set Your Rent on 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

 

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

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Facebook Live Question and Answer sessions. I just started doing these live forums in April and they are going so well and I am getting such great feedback and questions, I thought I would share them here on the podcast. Especially for those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more! Some of the questions have been very real estate specific, but others have been general business questions, like asking about overcoming fear in order to get started and how to successfully scale. I have also received more personal questions like how I decided real estate investing was right for me and the steps I took to get my business off the ground.

 

This presentation is the live Q&A that I did on July 28th and each week on Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!




Notable Quotes:

 

“Most peoples’ limiting belief is that they need to be more of an expert to get started.”

 

“You can get started with little knowledge and build on that… you should always be learning.”

 

“Another limiting belief is that it is the wrong market to get started.”

 

“I spent five years making excuses, educating myself, being afraid of failing, being afraid of making mistakes, and I probably lost $3M because I didn’t get started.”

 

“The number one way to raise private money is to talk about what you are doing in your business.”

 

“If you ask for money, you will get advice. If you ask for advice and talk about your business, you will likely get money.”

 

“For most people, starting with single-family homes, either renting or flipping, is a good way to get started.”

 

“If you want to be held accountable, tell your goals to the person who will call you out on your BS.”





Links:

Find & Fund Blueprint

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




My guest today is Paul Moore.  After a stint at Ford Motor Company, Paul co-founded a staffing firm where he was a finalist for Michigan Entrepreneur of the Year two years in a row. After selling the staffing firm to a publicly traded company, he began investing in real estate, founded multiple investment and development companies, appeared on HGTV, and eventually completed 85+ real estate investments and exits, including a large multifamily development. Paul is the author of The Perfect Investment – Create Enduring Wealth from the Historic Shift to Multifamily Housing and Storing Up Profits – Capitalize on America’s Obsession with Stuff by Investing in Self-Storage. He is also the Founder and Managing Partner of Wellings Capital, a real estate private equity firm, and he has contributed to Fox Business and is a regular contributor to Bigger Pockets.

 

Paul first shares his background story and how he got into real estate. After getting his engineering degree and his MBA at Ohio State University, Paul worked at Ford Motor Company. Soon, he decided to start his own staffing company that was doing really well for the next few years. Eventually, he decided to sell it to a publicly traded firm. Paul found himself at 34 years old, with a couple of million dollars and absolutely no sense of investing. He moved to the Blue Ridge Mountains of Virginia, started a nonprofit organization, and started flipping houses and waterfront lots as well as ground-up construction. In 2010, he got involved in commercial real estate that led him to write a book on multifamily investing, and then later expanding into doing a number of commercial real estate funds for people who want to invest in commercial real estate but don't have the bandwidth to do it full time.

 

We then move on to discussing some of the struggles that Paul faced in 2007 that led to him being 2.5 million dollars in debt. In 1997, Paul had a million and a half in the bank. Exactly a decade later to the month, he had two and a half million in debt. He explains that they were able to give their way out of debt. Following the premise of one of his heroes, George Müller, who was a 19th-century Christian evangelist with radical views on generosity, Paul and his family started to donate their money pretty radically on January 1st, 2008 while they were facing bankruptcy. Four weeks later, Paul found a loophole in the law that allowed him to split one of his waterfront lots and sell the parts individually. He sold four in the fall of 2008, and the fifth eight months later. After that, he was debt-free.  

 

Next, we talk about how Paul got into multifamily and the benefits of apartment buildings with 80+ units. Paul shares that he first got into multifamily with a four-unit building and a couple of duplexes. He then hired a business mentor who convinced him to only do apartment buildings with 80+ units. Paul explains that it is much easier to own an apartment building with 100 units than owning 100 different houses. With a 100 unit building you only need one property manager, you have one location, you have more control over your tenants, you can get a 3%, Fannie or Freddie loan, and you can get an FHA loan with a 35-year term.

 

Paul then shares his opinion on real estate investing at the moment. He explains that currently 93% of multifamily above 50 units are owned and operated by corporations who have typically run the value out. The problem is that if the value has already been run out, then you're going to be running on a thin margin, hoping and praying for inflation. And if inflation doesn't come or if there is a bump in the economy, that thin margin is going to go to zero. Paul's advice is to invest in assets that have a mom-and-pop ownership base, like self-storage and mobile home parks. Paul also goes on to say that if he could invest in only one thing today, it would definitely be mobile home parks.

 

We then talk about Paul’s books: The Perfect Investment: Create Enduring Wealth from the Historic Shift to Multifamily Housing and Storing Up Profits: Capitalize on America's Obsession with STUFF by Investing in Self-Storage. Paul explains that he wrote his first book five years ago after he went through his mentoring program for multifamily housing. He discovered that there were actual mechanics of how it all works and that there was a value formula, and he wanted to share that with the world. He wrote his second book in 2020, based on his experience with self-storage and the number of benefits it offers. 

 

Eventually, we dive into discussing Paul’s thoughts on inflation. Any of us who grew up in the 60s, 70s, 80s, remember the horrors of inflation. Paul explains that inflation paired with high-interest rates was disastrous, and can create stagflation. But he also believes that inflation in the face of low interest rates can be a goldmine for real estate investors. If you have inflation and you can create a fixed cost in your company or your property, then that margin increases a lot over the years and your largest cost is fixed even though utilities and maintenance might go up with inflation. So, if you can lock it for a long time, whether it's in your private residence or in an apartment building, or a bunch of single-family homes, you can make a ton of money.

 

Lastly, we talk about the importance of finding your WHY. Paul shares that he woke up on October 7th, 1997 in Troy, Michigan realizing that he’s got a couple of million dollars in his bank account, but he doesn't feel that much different than he did yesterday or last week. He felt like there has to be more to life. So now, he encourages people to start doing something now, no matter where they are in life.

 

Don’t miss this incredibly fun and knowledge-packed episode of the Just Start Real Estate Podcast with Paul Moore, who is all about giving back and helping others! 



Notable Quotes:

 

“If you don't know how to tighten the doorknob on your own house, you probably shouldn't build a house.”

  • Paul Moore

 

“I thought I was a full-time investor, but I was a full-time speculator.”

  • Paul Moore

 

“If you play double or nothing long enough, you're going to end up on nothing at some point. And then what will you have left to double?”

  • Paul Moore

 

“Good investing is a little bit more predictable, a little bit more boring.”

  • Mike Simmons

 

“The perfect Investment is not perfect if you can't buy it at a good price.”

  • Paul Moore

 

“That's the best question anyone has asked me on a podcast in a long time.”

  • Paul Moore

 

“It's the only asset class I've ever seen in my life that has a shrinking supply, but an increasing demand every year.”

  • Paul Moore

 

“Those closest to the money are the ones who benefit most from inflation. And those closest to the money are the Federal Reserve and Big Government.”

  • Paul Moore

 

“You can get wealthy if you think like they do. And that is: getting low-rate debt, locking it in for a long time, and letting inflation do its work.”

  • Paul Moore

 

“I like to encourage people to start doing something now, wherever you are - at age 20 or 50 or whatever - that you want to do, to leave a mark on the world for the rest of your life.”

  • Paul Moore




Links:

Paul on Facebook

Paul on LinkedIn

Paul on Instagram

Paul on Twitter 

The Perfect Investment: Create Enduring Wealth from the Historic Shift to Multifamily Housing  by Paul Moore

Storing Up Profits: Capitalize on America's Obsession with STUFF by Investing in Self-Storage Paperback by Paul Moore

Exodus Cry 

Wellings Capital Free Resources 

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: Creating_Enduring_Wealth_through_Real_Estate_with_Paul_Moore.mp3
Category:general -- posted at: 3:30am EDT

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Facebook Live Question and Answer sessions. I just started doing these live forums in April and they are going so well and I am getting such great feedback and questions, I thought I would share them here on the podcast. Especially for those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more! Some of the questions have been very real estate specific, but others have been general business questions, like asking about overcoming fear in order to get started and how to successfully scale. I have also received more personal questions like how I decided real estate investing was right for me and the steps I took to get my business off the ground.

 

This presentation is the live Q&A that I did on July 21st and each week on Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!




Notable Quotes:

 

“When investors are analyzing a deal for rental, they don’t always think of putting aside money every month for maintenance.”

 

“Another thing that landlords forget to consider are vacancies. Assume you will have to turnover your property at least once every year or two.”

 

“The great thing about private money lenders is that all of the terms are very negotiable.”

 

“I can’t stress it enough how much crap a property management company will take off your plate if you have a rental portfolio.”

 

“Getting together with your team at least once a quarter to do goal setting and strategy sessions is essential.”

 

“I want to hire somebody with the right values and then train skills.”

 

“Passive income is not passive if you are managing your properties and dealing with the maintenance issues.”

 

“I think in business, everything is about testing what works.”




Links:

Business Fast Track Blueprint

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


My guest today is Ryan Chaw.  Ryan has created a personal real estate portfolio cash-flowing almost $11,000 per month through single-family home investing in California while working a busy pharmaceutical job. Real estate investing is going to allow Ryan to retire at age 31 with a 6 figure income. He was also recently featured on the BiggerPockets Rookie Podcast.

 

Ryan first shares his background story and how he got into real estate. He relates that he was inspired to get into real estate by his grandfather who bought a couple of properties in the San Francisco Bay area. He was able to cover all of his living expenses with the rental income and retire early. So, pretty soon Ryan realized that real estate is one of the best ways to create generational wealth, if not the best way and he wanted to get in as soon as possible. He got his degree in pharmacy in 2015 and worked two jobs, seven days a week to save enough capital to buy as much real estate as possible as early as possible. He bought his first property in 2016 and decided to copy a model that one of his friends was doing and rent individual rooms in local college towns. This allowed him to double his cash flow and double his rental income, by charging $600-$700 per bedroom. Most of his properties make between $2,500 and $3,200 per single family home. Since then, he bought one property each year by reinvesting the income. Now, he has four properties and is about to buy his fifth that will make his monthly rental income $13,910. 

 

We then move on to discussing how Ryan manages his tenants who are all college students.  He explains that at the moment he has 18 tenants and that he does all the management by himself. Ryan looks for high quality tenants: professional students, third or fourth year students, more mature students who will most likely take on some responsibility around the house. At this point, he spends less than an hour a week self-managing his properties thanks to his PRIME method. P stands for placement of ads, you have to post your ads in a way that puts you only in front of the people that you want to rent to. R stands for receiving their social media, this helps make sure that they are serious about their studies. Next, I stands for identifying the type of tenant; are they difficult to communicate with, do they seem to get angry very easily, are they asking for cheaper rent, are they asking for things before they even sign. M stands for measuring responsiveness, the more responsive they are in terms of getting their paperwork back to you quickly and answering all your questions, the more responsible they're going to be. And finally, E stands for ensuring proof of income which is usually parent’s bank statements since they are the ones paying the rent most of the time.

 

Ryan then explains his rule of thumb when it comes to evaluating the property. He shares that the number one thing he looks at is the price, even though that is not the only factor. He also makes sure that he is following the 1% rule, meaning that his rental income is 1% of the total cost of the property. After purchasing his property, to increase his rental income, he usually adds as many bedrooms as possible while making sure that there is no more than 3 people per one bathroom. He also makes sure to make all the rooms move-in ready.

 

We then talk about the type of properties that Ryan purchases. He explains that he mainly focuses on properties that are in good condition, turnkey properties. He always takes into consideration opportunity costs, because his properties are making such a large increase in rental income per month. With turnkey properties, it usually takes him two to three weeks to repurpose some of the rooms into an extra bedroom or two and then by the next month, he usually has two tenants in, because he starts advertising his properties as soon as his offer is accepted. 

 

Eventually, we dive into discussing male and female ratio in Ryan’s properties. He tries to match up his tenants whenever possible, but if there is a house where females prefer to live with other females, a lot of times due to  their culture, he'll have a female house and then a male house. But, he also has co-ed houses, when female tenants are comfortable staying with male tenants. But, he explains that he has to be very careful here, because he can’t have an ad that says that a house is an all-female house because that's discriminating against sex, but if the tenant that already signed a lease prefers to only stay with other females, then he is simply respecting that request.

 

Lastly, Ryan shares some advice for anyone getting started in the student housing market. His first advice is to follow your local city laws and to check with your city planning division to make sure that this is legal in your area. His second piece of advice is to get to know your neighbors and to expand your network as much as possible.

 

Don’t miss this incredibly educational episode of the Just Start Real Estate Podcast with Ryan Chaw, and learn all about this new way to do rentals with crazy high revenue!



Notable Quotes:

 

“I realized that real estate is one of the best ways to create generational wealth, if not the best way. So, I wanted to get in as soon as possible.”

  • Ryan Chaw 

 

“Right now I actually have 18 tenants. I'm able to self-manage this while working a full-time job so that's already a testament to how well this system could work.”

  • Ryan Chaw

 

“Putting ads where your target tenants aren't hanging out is like fishing in an empty pool.”

  • Ryan Chaw

 

“What's really great about this market is the student tenant has so many ways to pay for the rent and it's also a lot cheaper than on-campus housing, so it saves them a lot of money.”

  • Ryan Chaw

 

“I start advertising my properties right when my offer is accepted. So, not even when I have the house. I basically sell the product before I even have it.”

  • Ryan Chaw

 

“This gives them more privacy, they're just as close to their classes, or sometimes even closer, and they're paying half the price of the dormitories.”

  • Ryan Chaw

 

“Every person who contacts you could have three or four other people interested.”

  • Ryan Chaw

 

“I always wanted to have that choice to either work as a pharmacist full-time or maybe just work part-time and use the rest of the time making a larger impact on the world.”

  • Ryan Chaw

 

“There's so many ways that you can make it happen if you really want it to happen. People blame time and money, and really those two things are not the problem.”

  • Mike Simmons 

 

“Honestly, conventional financing is one of the best types of financing out there.”

  • Ryan Chaw




Links:

Ryan on Facebook

Ryan on LinkedIn

Ryan on Instagram

Newbie Real Estate Investing 

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: A_New_Way_to_Do_Rentals_with_Much_Higher_Cash_Flow_with_Ryan_Chaw.mp3
Category:general -- posted at: 3:30am EDT

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Facebook Live Question and Answer sessions. I just started doing these live forums in April and they are going so well and I am getting such great feedback and questions, I thought I would share them here on the podcast. Especially for those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more! Some of the questions have been very real estate specific, but others have been general business questions, like asking about overcoming fear in order to get started and how to successfully scale. I have also received more personal questions like how I decided real estate investing was right for me and the steps I took to get my business off the ground.

 

This presentation is the live Q&A that I did on July 7th and each week on Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!




Notable Quotes:

 

“It is not better to be a realtor when starting your real estate business, but you need access to the MLS.”

 

“I have access to the MLS because I need to comp properties effectively.”

 

“I don’t know any investors who have been doing it successfully for a while and still use banks to fund their deals.”

 

“The beautiful thing about hard money lenders is that they will lend money on the strength of the deal itself.”

 

“If you are going to separate from a business partner, it doesn’t get better with time.”

 

“I think the EOS system outlined in Traction by Gino Wickman is phenomenal.”

 

“I half an hour of your time for someone who never buys from you and they just take up a lot of your time, you have to cut that off.”

 

“I don’t have a lot of worries because I am completely plugged into the real estate market.”

 

“I have a lot of people in my network who are plugged into the market around the country.”





Links:

Business Fast Track Blueprint

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


I am so excited to have as my guest today Brandon Turner. Brandon is a real estate investor, entrepreneur, and speaker, widely recognized as one of the foremost experts on real estate investing. He is also the popular host of the BiggerPockets podcast with over 100 million downloads, best selling author of several books, and founder and managing member of Open Door Capital. He has been featured in numerous online and print publications like Forbes.com, Entrepreneur.com, and Money Magazine.

 

Brandon first shares his background story and how he got into real estate. After getting his college degree in history, Brandon knew that he had two options: become a history teacher or become a lawyer. He chose the latter. But pretty soon he realized that being a lawyer really stunk. He wasn’t ready for 60 to 100-hour work weeks just to be able to retire rich at seventy years old. So, he decided to rebel against that by selling his house and buying a duplex just as the market crashed in 2007. That started his journey into multifamily real estate

 

We then move on to discussing how Brandon got involved with BiggerPockets. When he was 24 years old, Brandon bought a twenty-four unit apartment building. He spent a couple of years fixing it up and by the time he was 27, the building was done and all of the units were rented. He decided to quit his job and retire early. Soon, he started guest posting on BiggerPockets, the biggest real estate blog at the time. He became friends with Josh Dorkin, founder of BiggerPockets and (according to Brandon) he came up with the idea of starting a podcast. 

 

Brandon then explains his decision to move to Maui two years ago. He was living in western Washington at the time with 300 cloudy days a year. One day, he was at a kid’s birthday party and met Jared. Jared was also a businessman who moved to Hawaii a few years prior. Brandon shares that at that moment his mindset expanded and he decided to visit Hawaii for a month. He loved it and decided to go again, this time for three months. At the end of this trip, he ended up buying a house on Maui.     

 

We then talk about Brandon’s company Open Door Capital. Brandon first owned a property management company called Open Properties in Washington State. He was buying a couple of properties a year, but he realized that wasn’t enough. In 2018, he decided that he wanted to go bigger. He started Open Door Capital in Hawaii with his friend Brian Murray with the goal of owning 1,000 units and 50 million dollars in real estate in the next three years. Today, they have 3400 units and 197 million dollars in real estate.  

 

Eventually, we dive into discussing Brandon’s new books The Multifamily Millionaire, Volumes I and II. Brandon explains his stack method of exponential growth in real estate that is described in Financial Freedom in Five Years Through Multifamily, Volume I. He explains the difference between linear and exponential growth and how multifamily allows you to go from 1 unit to 5, to 20, to 50 and to reach financial freedom through five or six purchases in five years. He also goes on to explain a bit more about small multifamily and how to find your first deal. Brandon’s advice is to define your Crystal Clear Criteria: (1) your property type (2) location (3) condition (4) price range and (5) profitability. 

 

Lastly, we talk about the biggest mistakes that people make when they go into the world of multifamily. According to Brandon, the biggest mistake that people make is that they are treating it like a hobby. Eventually, they get frustrated and they don’t stick with it. But if they treat it like a business, their chances of achieving that exponential growth and financial freedom are much higher. 

 

Don’t miss this incredibly fun and inspirational episode of the Just Start Real Estate Podcast, with Brandon Turner, truly an amazing guy and businessman! 




Notable Quotes:

 

“I like multifamily. Multifamily is easier to treat like a business”

  • Brandon Turner

 

“Most of us just accept the life that we’re given and we don't really think outside of that until something breaks you out of it.”

  • Brandon Turner

 

“I was not happy with where I was in life and I believe that's because I was not living up to my potential or what I knew was possible.”

  • Brandon Turner

 

“It shows the power of having a clear vision, getting the right people on board, getting really good at a certain niche, and then having a system by which you manage those people.”

  • Brandon Turner

 

“Those of us who are growth-minded, we're always pushing to the next level, and trying to get a deeper understanding of what the world really is, and how we function in it.”

  • Brandon Turner

 

“Our mindset determines our actions and our actions determine our results.”

  • Brandon Turner

 

“What I've come to realize is that our mindset has way more to do with success than the tactics.”

  • Mike Simmons

 

“For somebody who is just getting started, if you're willing to take on the challenge of that size of a property like I was on my first 24-unit, it can get you out of a 9-to-5 job. It can just completely change your life.”

  • Brandon Turner

 

“In this industry and in this market, you have to be better than average to be able to get deals.”

  • Brandon Turner

 

“Wherever you invest, choose a market that supports your goals.”

  • Brandon Turner




Links:

Brandon on Instagram

Brandon’s Text Message List: Behind the Beard

The Intention Journal by Brandon Turner 

The Multifamily Millionaire, Volume I by Brandon Turner 

The Multifamily Millionaire, Volume II by Brandon Turner

Vivid Vision by Cameron Harold

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




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