Just Start Real Estate with Mike Simmons

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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 the week of April 20th and each 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:

 

“Entrepreneurial loneliness is one of the biggest pitfalls of being an entrepreneur.”

 

“The absolute best remedy for entrepreneurial loneliness is joining a mastermind.”

 

“You have to surround yourself with people who are in the same relative situation as yourself.”

 

“The mistake people often make, and it can cost them a ton of money, when they are lonely is to partner with someone.”

 

“You feel like you have someone in the trenches with you - until it goes wrong.”

 

“Don’t feel like your acquisition manager needs to have real estate experience. They don’t.”

 

“MAO stands for Maximum Allowable Offer.”

 

“Mortgages and promissory notes are two documents that you must have when you have lenders involved in purchasing a property.”

 

“You should be buying properties inside of an entity, an LLC.”




Links:

7 Figure Investor

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 Brian O'Neill. Brian has over 20 years in real estate. He has been leveraging his experience and proficiency in sales to help him maximize his selling, buying, and investing efforts. Brian is also a family man, and he has a wonderful wife, Katie, and a ten-year-old son named Will. Together they started BKW Property Solutions to provide flexible real estate solutions for buyers and sellers. They serve the people in the Chicagoland area to help buyers realize their dream of owning a home. 

 

We begin the episode with Brian sharing his background story and how he ended up in real estate. He shares that he was conditioned early on in life to go to school, get a good job, save money, buy a house and hopefully retire at 75 years old. He was in sales for about 25 years and was interacting with business owners with a net worth that was ten times higher than his, which helped him in his real estate career. According to Brian, in sales, you can only make more money if you’re trading more time or moving up the corporate ladder, and this made him so nervous. This motivated him to stop the analysis paralysis and pursue his dream of real estate investing.   

 

We then talk about Brian's model and end game with seller financing. He shares that there are two models he likes to use. First, you can have control of properties without ownership and create multiple exit strategies. Second, you can take the deeds with seller financing. Brain's preferred strategy that pays him the most money is finding buyers who cannot qualify for a bank loan and leasing the house to them until they qualify for a loan to cash out. Brian is a long-term thinker, and this works for him. However, you can also leverage other existing strategies such as short-term and long-term rentals. He also shares that he finds his properties primarily by looking for sellers who are actively trying to sell their house, through expired listings, for sale by owners, or rent by owners. This is all inexpensive public information.  

 

Next, we discuss how Brian gets houses seller-financed and how he protects the transaction. Brian shares that before he sells a house, he likes the buyers to prove themselves using a lease option for a couple of years. After buying properties from a seller, Brian takes over their loan payment, and the house gets deeded to him. The loan stays in place until the end buyer gets their loan to cash out of the house. This can take 5 years, 10 years, or whatever the agreement is, but the longer you go, the better for you as an investor. To make the deal profitable, Brian sells the houses for more than the original loan payment. According to him, if you do this correctly, you will not be a landlord. The buyers are responsible for the utility, repairs, and maintenance because they act as owners of the house, which makes it more rewarding. 

 

We then talk about how Brian frames the conversation to find suitable candidates for sellers' financing. According to Brian, it takes a while to get there. In the beginning, he was petrified simply because he didn’t know what to say, but he had to learn it. The fear of phones can be traumatizing but treating a seller like a neighbor who has a sale sign on their house makes the conversation easy and natural. For Brian, this helps him in understanding their situation, and there are four things that he desires to hear from a seller before they know if they are a candidate for seller financing or not: why they are selling their house, why they took their house off the market, the condition of the house, and whether they need to cash the house out to move on to the next thing. 

 

Lastly, we talk about Brian's portfolio, plan, and how big he wants to get. Brain shares that he plans to get as many houses as possible on long-term financing contracts for deeds to have the cash flow coming in and never have to worry about cashing out. For Brian, the ideal number is 100, and he has a long-term plan to get there within five years. Deed contracts take time because not every seller is a candidate, but it’s a powerful investment channel if you do them right. Brian's goal is to get into more long-term financing, and he needs 10 to 15 such deals a year to achieve his goal of 100 before moving into other asset classes like multifamily.    

 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Brian O'Neill and get valuable information on how to create long-term wealth through seller financing projects!




Notable Quotes:

 

“Fear of the phone can be traumatizing, but treating a seller like a neighbor who has a sale sign on their house makes the conversation easy and natural.”

  • Brian O'Neill

 

“When there is a lot of fear and uncertainty in the market  is when you need to double down.”

  • Brian O'Neill 

 

“The market doesn’t have bad or good feelings. The way you react and position your business has everything to do with your success.”

  • Mike Simmons 

 

“Deed contracts take time because not every seller is a candidate, but they are powerful investment channels if you do them right.”

  • Brian O'Neill 

 

“Sometimes there is a lot of emotional attachment in a house, and you’ve to let the seller go through that process, no matter how excited you are about the deal.”

  • Brian O'Neill 




Links:

BKW Property Solutions 

Brian on LinkedIn

BKW on Instagram 

BKW on Facebook

7 Figure Investor

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: How_to_create_wealth_through_seller_financing_with_Brian_Oneill-2.mp3
Category:Real Estate -- 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 the week of April 13th and each 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:

 

“For a house flipper, you want there to be 250,000+ households in your market.”

 

“Do you hunt where there are 10 deer or 1000 deer?”

 

“When you are looking for markets, you need to straddle the line between small enough that it is not overly competitive but still big enough that it has plenty of deals and buyers.”

 

“If I were looking to break into a new market right now, it would be a secondary market.”

 

“Do not print out your marketing letters and send them yourself.”

 

“How do you build your business so that you are not doing activities that you could literally pay someone $5 an hour to do?”

 

“I recommend postcards for marketing.”

 

“By doing that, you are making a living by undercutting another investor. I don’t love it.”

 

“The worst thing about being a contractor is getting sucked into doing the work yourself.”

 

“Your time as the investor and business owner is much better spent raising money and finding deals.”

 

“You should not just use a property management company someone told you about. You should interview them just as you would with filling a position in your company.”

 

“This is not charity. This is business.”





Links:

7 Figure Investor

Evergreen Printing & Mailing

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 Matt Pridemore. Matt is skilled in negotiation, operations management, coaching, retail, sales, and franchise building. Matt has a furniture business, and he was awarded 2021 Top 40 Under Forty Furniture Executive by Home Furniture Business. He purchased his first retail furniture store in 2016 from his parents and currently owns and operates 13 stores across Georgia, Alabama, and Mississippi. Recently, Matt started the Franchise Builder podcast, and he is writing a book to help people understand how to go into business using franchises.

 

We begin the episode with Matt sharing his background story. Matt shares that his parents had one store for 35 years. They did a phenomenal job with it, but they worked all day long inside the store, which discouraged Matt from pursuing it. He was in a professional baseball career, but he got injured in 2009 and had to resign. After going back home, he started to double his parent's business using the skills that he had learned in his career. Matt worked for them for five years, moving from a store manager to a regional manager and later buying his first store (his parent's store) in 2016. A few months later, he started scaling, he bought a second store, and within six months, he had his third location. Today, Matt has created a system of adding a new store every four to five months, and now he’s in his 13th store in the southeast. 

 

We then talk about practices that Matt uses that works well in hiring. He attributes his success to his regional manager role because when he was a store manager, he only had one location, and he did things his way. He was the smartest guy in the room every day and always on the front line. As a regional manager, he worked with store managers as part of his team, and he couldn’t be in every store every time. So in listening to them, Matt realized that they had so many great ideas, and hearing them out ensured they were on the same page at all times. According to Matt, this gave rise to culture, and he had to make sure everybody who came on his team understood that culture was going to be a big driver. Culture beats strategy, and in building a thriving culture, communication is key. So, if you’re a leader, you’re in charge of the people in your team, and you have to create a two-way communication to ensure you’re moving in the same direction.    

 

Next, we talk about How Matt does his interviews. Matt shares that he often involves his high-level employees, including his store managers. He has three people who know him very well, and he leads his company with them, and they have a hand in every interview. Store managers are also part of the program, especially when hiring people to work in warehouse delivery, sales, or customer service at the store level. According to Matt, involving his employees in interviews and allowing them to duplicate what they do, ask questions, and share their ideas is a big part of scaling. He also believes that consistent training is key to building a successful team, and they have training systems in place to ensure they stay on top of this. 

 

Lastly, we talk about Matt’s end goal for his business. Matt shares that when he first got into the business, the end goal was to sell the stores off to people who had added value to his company. However, his goals started evolving and changing as he realized that most of his employees didn’t want to be business owners. Most of them want to be part of the leadership team rather than buying a franchise store. Now, his focus is to keep scaling, training, and growing his business to build a culture of success. To Matt, business, in general, is infinite, and his end goal now is to give value back to the people who are adding value to his company.    

 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Matt Pridemore and get valuable information on how to grow and scale your business to the next level!



Notable Quotes:

 

“Make sure everybody in your team understands your vision, beliefs, values, and the way you do things early on when hiring.”

  • Matt Pridemore

 

“Building, scaling, profitability, and success are closely tied to the people that you hire.”

  • Mike Simmons

 

“Culture eats strategy. Make sure you are on the same page with the people you are working with at all times.“

  • Matt Pridemore

 

“If you don’t have a support system for continuous improvement and training in place, you are setting your company for a slow decline.”

  • Mike Simmons

 

“Training is not something you did, it is something you constantly do.”

  • Matt Pridemore



Links:

 

Franchise Builder Podcast

Matt on LinkedIn

Matt on Facebook 

Just Start Real Estate

7 Figure Investor

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 the week of April 6th and each 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:

 

“Banks look at your credit and the investment you are trying to make. They don’t usually beat you up for lack of experience.”

 

“I will loan you that money all day long because my investment is very secure.”

 

“You need to look for hard money lenders.”

 

“The answer is painfully obvious… it is an emphatic, scream from the mountaintops, yes!”

 

“If you are averaging more than a 12% return on another investment vehicle, maybe you should stick with that.”

 

“In the spirit of telling it like it is, 500 postcards a month is not enough.”

 

“The bottom line is that postcards do work.”

 

“Day one when a tenant is late on rent, send them a seven-day eviction notice.”

“You can stop the proceedings anytime you want, but until you get that notice into their hands, the clock hasn’t started.”



Links:

7 Figure Investor

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 Clay Hepler. Clay is the Chief Wealth Strategist and CEO of the Creative Capitalist, a multifamily investor, serial entrepreneur, podcast host, and cash flow specialist. He empowers entrepreneurs, executives, and real estate investors to create, protect and multiply their cash flow and maintain it no matter what happens in the market to get to financial freedom and abundance faster. 

 

We begin the episode with Clay sharing his background story and how he ended up in the real estate. He shares that his goal in college was to be an ambassador, but he dropped out of college after working at the US Embassy in Buenos Aires, which turned out to be a nightmare. Clay was very active, and being in an office was not what he dreamed of. It was so bureaucratic and the work was all mundane administrative work. His journey shifted from analytical and clerical work to marketing and sales in their family business. However, along the way, Clay met a successful real estate investor and developer in Washington, DC who started mentoring him in real estate. He taught him about insurance, taxes, and how to get equity in real estate. When he finally got into real estate, he leveraged his sales skill sets, and now he owns a wealth consulting company that works with entrepreneurs and real estate investors.    

 

We then talk about how Clay managed to scale their family business from two to forty-two countries and why he shifted to real estate.  He shares that he was living with his parents and working full time in the business, but he wanted to go out and do his own thing. Clay wanted to choose a path for himself, and he was on a mission to start something that not only made him successful but also brought the fulfillment he wanted. This led to the creation of Creative Capitalist, a firm that designs life insurance policies to help investors and business owners keep more of their cash flow by eliminating cash flow leaks, providing them with liquidity to grow, scale their business, and capitalize on opportunities for enormous growth. According to Clay, life insurance policies have enormous advantages.

 

Next, we talk about Clay’s plan for his business. Clay shares that the end game is to create a fractional family office. A family office is a structure that enables very wealthy people to access accounts of attorney advisers who work for them to ensure every dollar that enters their personal economy is used in the most efficient and effective way. Clay and his team are rolling out a fractional family office based on a subscription model where clients get access to hand-picked attorney advisers' accounts. The goal is to pull some of the greatest minds of attorney advisers together to help their clients get to financial freedom in abundance by preserving and increasing their wealth over their whole lives. 

 

We then talk about the best strategies for scaling your real estate business. Clay shares that the most important thing in scaling your business is having the right people in the game. You can have all the tactics, strategies, and systems with KPIs, but without a team that aligns with your goals, you’re not likely to be in the game for long. According to Clay, most successful investors thrive because of their teams' effort.

 

Lastly, we talk about the things that Clay has found to be helpful in hiring the right people. Clay shares that he has not hired a lot because he looks for strategic partners rather than actual hires when scaling his business. There are many ways of partnering with other businesses, but Clay prefers giving a percentage of the profit rather than actually paying someone and training them. This has helped them to get people who have more aligned interests. In a flipping business, the same principle applies. You can partner with someone who can be an aggregator of distressed assets, such as an attorney or a CPA. For Clay, he has always scaled his businesses using exterior partnerships, and it has been very rewarding,

 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Clay Hepler and get valuable information on how to optimize your cash flow, build more equity, and scale your business!



Notable Quotes:

 

“In real estate, you must have equity to become wealthy.”

  • Clay Hepler  

 

“Most wealthy people put 15-20% of their liquid savings in life insurance packages because of tax and collateral advantages.”

  • Clay Hepler 

 

“The way to scale your business is not by yourself - you need to have the right people in the game.”

  • Clay Hepler  

 

“Letting other people do the skill set and giving them a piece of the pie can be very rewarding.”

  • Clay Hepler 

 

“Most successful investors thrive because of team effort. You need a team that is aligned in the right seats to be successful.”

  • Clay Hepler 



Links:

Creative Capital

Clay on Facebook 

Clay on LinkedIn

7 Figure Investor

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: How_to_create__protect__and_multiply_cashflow_with_Clay_Hepler.mp3
Category:Real Estate -- 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 the week of March 30th and each 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:

 

“We have a leads manager that is really more of a data manager.”

 

“We send emails and text messages and also do automated and manual calls to potential clients if we don’t get the contract the first time around.”

 

“Maybe let a VA use a CRM that you like and figure it out for themselves.”

 

“You don’t have to have everything in place to start bringing people in to help.”

 

“The quickest way to not do things is to think all your ducks need to be in a row before you can take a step forward.”

 

“Bring help in and figure it out on the fly.”

 

“A lot of hard money lenders will write checks to the contractor directly.”

 

“If you are flipping or wholesaling a property, you are looking basically for the same things on a property tour.”

 

“When you go through these properties, you expect they are going to need cosmetic updates, but you need to take a hard look at all the big-ticket items.”

 

“If you have a buyer pressuring you before you have a chance to get other offers, it is because they know their offer isn’t good enough to get accepted with competition.”




Links:

7 Figure Investor

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 excited to welcome Nathan and Ryleigh Eckles to the show today! Many parents often wonder how to get their kids interested in their work. For Nathan, a real estate investor, it was relatively easy! He took his daughter, Ryleigh, to his projects when she was just an infant, and when she was ready, he allowed her to do various tasks. Over the years, it became second nature for her, and now as a teenager, she’s an active participant in their real estate business, Dad And Daughter Buy Houses. Ryleigh has also appeared on stage at 7 Figure Flipping’s Flip Hacking Live, and in magazines, and their story as father-daughter investors is very compelling!  

 

We begin the episode with Nathan sharing their background story and how he exposed Ryleigh to his work in real estate. He shares that he got his first rental when his wife was pregnant, and they closed the deal when Ryleigh was born. He has been a landlord his whole life, and he started taking Ryleigh to projects sometimes out of necessity and other times just to spend time with her. He was doing all the repairs, which took him away from their home, and he had to find ways to bring his family to him. When she was a little bit older, they would allow her to do things like painting the walls in the basement of rentals. Whatever she asked to do, he let her and he didn’t care how good it was because he would fix it. For Ryleigh, the experiences are fun to remember.  She recalls painting the houses, the snacks that her mom would buy them, and the fun names that her dad gave to the houses so she could remember them. 

 

We then talk about when Nathan discovered that it was less of a game and Ryleigh actually loved it. Nathan shares that it happened when he decided to go to Flip Hacking Live  and she wanted to go with him. They spent time listening to podcasts together, and he realized that she was picking up and retaining the information. At that time, he was also doing flips alongside long-term rentals, and her interest showed him how much she wanted to be in the game. From Ryleigh's experience, she always connected with the people they listened to on podcasts. The fact that they were making millions of dollars a year fascinated her, and it sparked her interest in real estate.

 

Next, we talk about their business and what they are focusing on right now. Nathan shares that they are transitioning to midterm rentals for traveling nurses and business executives. Their focus is more on acquiring wealth and this niche is more profitable than long-term rentals. On the other side, flipping is quite the opposite, and he enjoys a lump sum paycheck. Their goal this year is to accumulate wealth by transforming some of their long-term rentals and holding furnished rental properties in the right locations.

 

We then talk about the economy and the work involved in long-term versus mid-term rentals. Nathan shares that they have one long-term rental that they rented for $1,600 a month. They did a complete rehab for it, which cost them around $10,000 for the furniture and the fixtures. They do everything, just like in an Airbnb residential property. They have to ensure everything is there for the mid-term clients, including WIFI and other utility services. This usually costs them an additional $500 to $600 in expenses every month while renting it for $2,700 a month. Nathan usually targets renting to traveling nurses and executives, but he’s looking into other options like working with insurance for floods and fires to host people whose houses have been destroyed. According to him, just like in anything else, the more options you have, the better.

 

Lastly, we talk about Ryleigh’s role in their mid-term rental business and their future goals. For Ryleigh, she is responsible for picking out most of the decorating items, such as the furniture, designs, and colors. She also makes a checklist of everything they need to ensure the whole process runs smoothly from the beginning to the end. Their goal is to acquire or transform their long-term rentals into furnished properties to have seven mid-term rentals by the end of the year. This will help Nathan to quit his job and dive fully into real estate, something he is looking forward to.

 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Nathan and Ryleigh Eckles and get valuable information on how to invest in mid-term rentals and how you can get your kids involved in real estate investing!




Notable Quotes:

 

“Mid-term rentals are more profitable than the long-term. They call for more work, but you get to keep the fruits of your labor.”

  • Nathan Eckles

 

“Just like everything else, the more options you have in real estate the better.”

  • Nathan Eckles

 

“It is hard as a young person to prioritize making money, learning a skill or building a business when there are so many things that you can focus on nowadays.”

  • Mike Simmons

 

“The wear and tear in mid-term rentals is low compared to long-term rentals because most people treat it like a hotel.“

  • Nathan Eckles

 

“When you start real estate at a younger age, things are going to be easier as time goes on. You will see the outcome and learn where things can go wrong.”

  • Ryleigh Eckles

 

Kids will always experience the things other kids do, but exposing them to real estate at an early age will make everything easier.”

  • Nathan Eckles





Links:

EDGE Magazine Dad and Daughter Duo 

Dad And Daughter Buy Houses

Seven Figure Investor

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: Father_and_Daughter_real_estate_investing_team.mp3
Category:Real Estate -- 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 the week of March 23rd and each 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:

 

“You need to push on the pain point a little.”

 

“If a seller has motivation, it is another way of saying they have pain in their life and selling you their house is going to remove that pain.”

 

“You should always be trying to expedite everything you do.”

 

“If your short term rental tenant has nothing to complain about, you won’t be getting calls.”

 

“The reality is that right now contractors have more work than they know what to do with.”

 

“A lot of contractors have short term thinking.”

 

“With contractors, what is in your control is how you treat them.”

 

“Many times, contractors will grab the money at the expense of a relationship.”

 

“The 70% rule was designed to get you in the ballpark.”

 

“In this hot market, it is hard to make the 70% rule stick.”




Links:

7 Figure Investor

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 Alicia Jarrett. Alicia is passionate about land investments and how to get the most effective deals. She and her partner Matt have been assisting buyers and sellers with wholesale land deals for over three years. They have been investing exclusively in the States, and their goal is to help make their customers’ dreams come true by providing access to great below-market deals. Their company, Super Charged Offers, has allowed people to own land, build more on their lot, add value by increasing their lot size, and add more affordable homes to their projects effectively. They can help you find your next perfect piece of land, too!

 

We begin the episode with Alicia sharing her background story and how she got into real estate. Alicia told me that she has a background in human resources, leadership development, and training facilitation. She also had a consulting company in Australia for more than a decade, which she loved. A corporate job makes us live within our means, but for Alicia and her partner Matt, they wanted to do something bigger that aligned with their passion for travel. They started investing in the US by purchasing some fix and flip single-family homes in Florida, which worked well for them. However, the market was getting very competitive, and they shifted to land to keep their promise of doing business anywhere in the world. In the process, they also started their real estate marketing company, and right now, they have four businesses in the US and have built a team to work with them.

 

We then talk about why Alicia decided to invest in the States as opposed to where she lives, Australia. According to Alicia, Australia is a wonderful and beautiful country with amazing real estate, but it is very expensive. Where they live in Northern Australia, the average mansion costs $1.2M, while in Melbourne city, the houses range between $2.5 to 3.5M. From her perspective, people buy houses worth that much to get the land, and then they knock down the house to build a new one. The entry to the market is also very high, and the access to information is controlled by privacy laws that lock everything down. In the States, it is possible to access information about their customers, which is essential for effective marketing. 

 

Next, we talk about the advantages and challenges of land investment and why investors should try it. Alicia shares that land investment is an open market when it comes to the type of land and the strategies you can use. We tend to see buildings more than we see a piece of land that is not attractive. According to Alicia, there are so many things that you can do with a piece of land to increase its value. You can turn it into recreational land, hunting land, building land, developer’s land, commercial land, or industrial land. Opening up to these different possibilities is what makes land investment profitable. On the other hand, the main challenges to expect can include bad taxes, financial encumbrances, probate, and title issues. Most of these problems can be solved except those that are cost-prohibitive.

 

We then talk about how you can know where to buy land and resell it effectively. Alicia shares that it is pretty much the same as acquiring houses. They look for areas where there are profitable buyers' activities going on using data reports for over 18 months. The data helps them to know what has been happening in that area, how many people say that the land has value, and the number of people who are paying above and below market value. If the majority of people are paying below the market value, this is not an area to invest in; however, if most people are paying above, it’s worth getting into the game. Always do your due diligence, by looking at the numbers and buyers' activity levels and the information can help you identify better and more profitable deals.

 

Lastly, we talk about finding deals and marketing for opportunities. According to Alicia, establishing a pipeline works if you got your business set up right and you’re consistent. An effective pipeline in any business is not about what you are doing today, it's about consistency in what you did three and six months ago. For them, they had to put in place systems to enable them to continue getting and closing deals. They automated their data in online marketing to mature their sales funnel from the moment they get the data to the time their customers ask for offers. This makes it easy for their ideal customers to do business with them, and that is how they built their marketing company Superchargedoffers.com. People can contact them and ask for deals online, via email sequencing, SMS, letters, Facebook, or through an Ad, which has increased their efficiency.     

 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Alicia Jarrett and get valuable information on how to invest in the land and get perfect deals for your business!

Notable Quotes:

 

“We make money when we are doing deals, not when we are doing administration, marketing, or data cleansing.”

  • Alicia Jarrett 

 

“Every deal in real estate is driven by data. Data tells us everything.”

  • Alicia Jarrett 

 

“There are so many land investment strategies and opening up to different possibilities is what makes land investment profitable.”

  • Alicia Jarrett  

 

“Do your due diligence. Looking at the numbers and buyers' activity levels can help you identify better and more profitable deals.“

  • Alicia Jarrett 

 

“Pipeline marketing in any business is not about what you are doing today, it's about consistency in what you did three and six months ago.”

  • Alicia Jarrett 

 

“Do business in such a way that makes it easy for your ideal customer to do business with you.”

  • Alicia Jarrett 




Links:

Super Charged Offers

Alicia on LinkedIn

Alicia on Instagram 

Alicia on Facebook 

alicia@superchargedoffice.com

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 the week of March 16th and each 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:

 

“This isn’t supposed to be a break even business.”

 

“A short-term rental property in a northern state can be either feast or famine.”

 

“The reason you do short-term rentals is that generally they have a much higher rate of return.”

 

“One big mistake was rushing into a deal and not taking enough time to analyze the numbers.”

 

“Make sure you do the due diligence on every property you are considering buying.”

 

“When you are starting out, I think it is a great idea to start in secondary markets rather than metro areas.”

 

“Secondary markets are great because there is less competition.”

 

“Try to find a way to solve the seller’s problem through real estate.”

 

“Having a good company culture is probably more important for a small company.”

 

“If you don’t start with a good company culture with your first hire, you will just be building a fire of bad culture that is going to burn out of control and consume your business.”



Links:

7 Figure Investor

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 Maria Fristrom, the founder and CEO of Home Acres Ltd, a real estate investing company in Finland. Their mission is to offer homes with a heart and landlording with love to provide tenants with a home they are proud of. Maria had an international career in marketing and communication, working for agencies in Stockholm and Silicon Valley before stepping out and getting into real estate. Since 2015 she has built a multi-million-dollar real estate portfolio while also going through her toughest challenges as a mother. Maria’s inspiring story is a testament to how real estate investing can pull you out of financial, emotional, and mental depths.

 

We begin the episode with Maria sharing her background story and how she ended up in real estate. She shares that her mission is to help women dare more in investing. Maria and her husband owned an investment club where they read books and talked about them. One of the books was Rich Dad Poor Dad, and it lit something in them. They started looking at apartments. However, life took over, they moved to Hong Kong, and it took a backseat. They had to focus more on their career. Later, while working in a company in Silicon Valley, Maria bought her first investment property and decided that she would purposely and intentionally continue doing things that gave her the freedom to own her time. This led to her biggest move.  

 

We then talk about Maria's desire to leave a job that she loved. She shares that it was not 100% her decision to leave the job. She turned out to be pregnant again, and her husband had been headhunted for a job in Finland. They were going to have two kids, and paying $4000 for their care was not worth it. Maria gave up her job and decided to go full time into  real estate investing. She saw an opportunity to build her real estate portfolio and make up for her lost income. Since then, Maria has grown, and she hopes to work creatively, more closely with others to teach and give back.

 

Next, we talk about how Maria started her investment journey. Maria bought her first property while working in the US instead of buying their own home. They then moved to Finland, and that is where she built the biggest part of her real estate portfolio. The principles are the same, but Maria says that she got into real estate in Finland when nobody was doing the BRRRR method. This is what led to her breakthrough. She could not compete with the large players as she didn’t have the capital, the contacts, and the economy of scale. However, she had a concept that nobody else was using, so she started staging her rentals to build her personal brand. Maria got a lot of press that led to other opportunities to collaborate with brands and do the same thing for them.  

 

We then talk about Maria’s first investment in a single-family house in Colorado. Maria shares that she and her husband had a rough time growing up in Finland in the 80s, and neither of them was coming from money. They worked very hard, for a very long time, to be able to buy their first home. While in California, through her financial advisor, Maria got a good deal on a 2,300 sqft single-family home in Colorado. They did the math and she discovered that buying their home was a liability but investing in a rental property was an asset. They financed it through a conventional bank loan. She bought it for $285,000 with a $70,000 down payment, and they rented it out. They have had tenants there for six years, and it worked for them. Now they have been in the house for six months. They flipped it for sales and are looking to get $600,000 or more.    

 

Lastly, we talk about Maria's biggest mistake while investing in real estate. Maria shares that it has to do with the desire to very quickly. She felt like she had to do it all, give birth to three babies, move around the world and build a multi-million dollar real estate portfolio. Initially, her goal was to substitute her income from her job by buying four properties in that year. By the end of the year, Maria had two, and she needed two more. So she bought new construction highlight apartments. These were co-op properties that she found on MLS, and they were $175,000 each. The co-op funded 70%, while they financed 30%. At the same time, an institutional investor bought 42 other apartments in the same satellite, and when the construction came up, there was no demand, so they started dropping their prices. New construction was new for Maria, but she had to do it differently by personalizing her strategy. From her experience, Maria learned that she had to stop following her goals blindly and stick to what she knew to avoid making another mistake. 

 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Maria Fristrom and get valuable information on how you can build your portfolio creatively in real estate!




Notable Quotes:

 

“Instead of talking about where you’re coming from, talk about where you’re going.”

  • Maria Fristrom

 

“Life is an experiment, and there are no failures, only regret, but they are scary because they are so final and you cannot turn back time.”

  • Mike Simmons

 

“Looking for a strategy nobody else is doing can open up opportunities for you in the market that you are in.”

  • Maria Fristrom 

 

“Life is not perfect, things happen to all of us, but we don’t show the nasty parts.“

  • Maria Fristrom 

 

“It’s very smart to position yourself in a personable way - people want to buy from human beings.”

  • Mike Simmons

 

“Stick to your criteria and what you know. Going for the next shiny object is setting yourself for failure.”

  • Maria Fristrom 

 

“Be careful not to follow your goals pridefully. Ego is an enemy, so make sure your goals fit into your long-term vision.”

  • Maria Fristrom 




Links:

Maria on Instagram

Maria on Facebook 

Maria on LinkedIn 

Maria on Twitter 

Rich Dad Poor Dad

7 Figure Investor

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: Being_fearless_and_building_a_life_resume_with_Maria_Fristrom.mp3
Category:Real Estate -- 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 the week of March 9th and each 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 potential rental tenants would buy a house if they had good credit or money in the bank.”

 

“You have to look at the specific credit issues. What is dinging their credit?”

 

“Most landlords will overlook hospital or medical-related credit issues.”

 

“You don’t want a tenant that has a history of not paying their rent or house payments.”

 

“As a new landlord, I say, more than anything, get off on the right foot.”

 

“Real estate is a fantastic business. It just is and always has been.”

 

“Why do you need to start your own business?”

 

“The reason I am doing something has to be more powerful than my fear of doing it.”

 

“Education will clear up a lot of the fear, but it won’t be helpful if you don’t have a compelling reason for being successful.”

 

“I don’t think that people who are not trained and proficient in Google Adwords should be doing it. Hire it out to an expert.”



Links:

7 Figure Investor

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 the podcast today, I interviewed nationally recognized speaker, author, and podcast host, Chris Naugle. Over the last 20 years, Chris has worn a wide variety of business hats. He was a former pro snowboarder, owning several snowboard and skateboard shops. He's invested in real estate with his wife, doing flips, wholesales, and a lot of private lending. They even had a pilot on HGTV in 2018. The main hat he wears is that of a money mentor, because what is taught in schools about money is absolute trash. He has spoken to and taught over ten thousand Americans delivering the financial knowledge that fuels lasting freedom.

 

We begin, like we usually do, by talking about Chris’ background and how he got started as an entrepreneur. Chris talked about his upbringing and how he learned a lot from growing up in a lower middle-class household. He talked about his early work experience and how it shaped his life and attitude about money. Chris talks about starting in entrepreneurship by selling apparel he designed with his high school art teacher when he was sixteen years old and how his mother mortgaged her house to help him open a snow and skate board shop. He opened Phatman Boardshop in November of 1994 and ran it until he sold it in 2010.

 

Chris talks about how economic circumstances taught him how to pivot in his business model. His business suffered because of the dotcom recession and he found the only companies that were interested in hiring him were Wall Street firms. He didn’t understand it, but found that because he was a successful entrepreneur and willing to learn, they wanted him to work for them. He spent sixteen years as an advisor for the firm that hired him until he saw some things going on he didn’t want to be involved in. He then started investing in real estate, which led him to teach others about money and achieving financial freedom.

 

We then talk about Chris’ current passion, which is teaching people about wealth building and management. Chris says that he does not manage other people’s money anymore, but rather, teaches people how to be great stewards of their own money. He contends we have all been lied to concerning money and convinced the best thing to do is to give up the control of it. He came to the conclusions that he holds about wealth from studying the wealthiest families in the world - the Rothchilds, the Rockefellers, and many others. He talks about how these families do the same thing we do - trade our time for money, but then handle it differently once they have it. Chris then introduces us to the concept of infinite banking and how we can always make our money work for us.

 

Chris points out that infinite banking is a process rather than a product. I described the Just Start Real Estate audience and asked him if this process was available to everyone on the investing spectrum. Chris said that he believes that the process is available to everyone who has, at a minimum, started following the first law of wealth, which is saving at least 10% of your gross earnings. We also spent some time discussing how current events, such as the recent invasion of Ukraine by Russia, affects our money.

 

Don’t miss this exciting new episode of the Just Start Real Estate Podcast! My guest, Chris Naugle, teaches us all about the fundamentals of wealth-building and the process of infinite banking!!




Notable Quotes:

 

“I grew up in a house like many where there was scarcity.”

  • Chris Naugle

 

“Every time my mother needed something, she was a very good saver, and I learned to save money from her.”

  • Chris Naugle

 

“I quit trading hours for dollars.”

  • Chris Naugle

 

“Entrepreneurship took on a new meaning for me when it was no longer a hobby and my mom’s house was on the line.”

  • Chris Naugle

 

“Running Phatman Boardshop was one of the greatest experiences of my life.”

  • Chris Naugle

 

“When things happen, we make pivots in our life.”

  • Chris Naugle

 

“What does Wall Street want to do with a punk snowboarding kid who has never put a suit on in his life?”

  • Chris Naugle

 

“We have all been taught the big lie - to give up control of our own money.”

  • Chris Naugle

 

“I teach one thing and that is to take back control of your money.”

  • Chris Naugle

 

“If you are not saving money today, the infinite banking concept will not work for you.”

  • Chris Naugle

 

“Inflation is a hidden tax.”

  • Chris Naugle




Links:

Phatman BoardShop

Mapping Out the Millionaire Mystery

Chris' Website

Chris' Resource Page

Chris on Instagram

Chris on YouTube

Chris on LinkedIN

Chris on Facebook

Chris on Twitter

7 Figure Investor

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 the week of March 2nd and each 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:

 

“Every conversation with every seller is different.”

 

“When it is time to get serious, you have to get real serious.”

 

“I’m all about meeting things head on when it comes to interpersonal conflict.”

 

“Most sellers want more than we can give them.”

 

“We will remind them of their motivation consistently through the process.”

 

“Some people when met with adversity, rise up and rush into the storm.”

 

“Have that conversation and get their thoughts. Share the vision and then go for it.”

 

“There is an unseen force in marketing we call ‘momentum’ because we don’t know what else to call it.”




Links:

7 Figure Investor

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 happy to welcome my friend, Tanya Rooney, to the show today! Tanya is a real estate investor, and she is a former Project Manager at CBRE. She has used her communication and organization skills to assist clients in their construction projects. Tanya is the owner of BAFS Home Buyers. She started her career in house flipping and wholesaling before shifting her focus to short-term rentals to align her investments with her personality. Tanya wants to provide appropriate and affordable accommodation for people like her that love to travel and make great memories. 

 

We begin the episode with Tanya sharing how she grew her real estate business to a point where she could quit her job. Tanya shares that when we met in a mastermind class, she was doing her second flip but still in her project management position in CBRE. To grow and get to a place where she could quit her job, Tanya had to join a community of like-minded people, in flipping and wholesaling groups. They provided the support she needed to do things that she couldn’t do on her own though she knew they were the right thing to do. However, knowing that she had the skills and could make money gave her the confidence to quit her job to go full into real estate. According to Tanya, this was a mindset thing and she just needed to make a shift. 

 

We then talk about what Tanya’s first year free from her job looked like. She shares that she was doing house flips and wholesaling for off-market deals from MLS deals. There are so many deals on MLS, and they got to win because of their mindset. She also worked with other real agents whose property referrals and recommendations helped her move the needle. However, she has shifted her focus from flipping and wholesaling to managing short-term rentals. 

 

Next, we discuss why Tanya shifted her focus from flipping and wholesaling to short-term rentals. Tanya shares that flipping was becoming more stressful, and for the sake of her mental health and family, she had to make that shift. Tanya likes commercial construction and projects, and a year and a half ago, they turned a five-bedroom, three-bathroom house that they owned into their first short-term rental. It wasn’t selling for what they could have wanted it to, and with the help of a mastermind from her group, she decided to dive into the short-term rental market, and now they have three more. This model aligns more with her personality. She enjoys hosting travel and stocks them the way she wants to be accommodated when she is out of town.

 

We then talk about Tanya’s business model and the kind of houses she’s looking for. She shares that the coolest thing about real estate is that it surrounds us and everybody has their own thing and way to do business. Whether you are a multifamily property owner, flipper, or wholesaler, you can buy a house, keep it, rent it or sell it. There are so many ways  to create cash flow. However, Tanya likes big houses that can accommodate people similar to herself, such as those who need space for ten or twelve people. There are tons of houses like that, which allows her to provide space for people to congregate and make fun memories. According to her, real estate is all about what you want your brand to be, and whether you want to start rentals, multifamily, flipping, or wholesaling, you need to identify your values to design your unique brand. 

 

Lastly, we talk about how Tanya finances her short-term rental properties. Tanya shares that she does it using bank loans and other people's money. They have four properties that they financed through private capital, loans, and their own money. Tanya has partners who believe in her ability to create money, and out of the investment, they will get some of the equity. Tanya also shares the importance of building a team and creating a system by choosing people you can rely on. 

 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Tanya Rooney and get valuable information on creative ways to match your real estate investment strategy with your personality and lifestyle!



Notable Quotes:

 

“Thriving in real estate is not all about money - it’s more about mindset.”

  • Tanya Rooney

 

“Matching your real estate investments with your personality will help you develop a stress-free investment strategy and enjoy what you’re doing.”

  • Tanya Rooney

 

“Everybody that gets into real estate has a goal.“

  • Tanya Rooney

 

“Whether you want to start with rentals, multifamily, flipping or wholesaling, you need to identify your values and they will help you develop your brand.”

  • Tanya Rooney

 

“It’s awesome to operate in multiple markets, but you’re going to get better efficiency when you have more in one market.”

  • Tanya Rooney




Links:

Tanya on LinkedIn

Tanya on Facebook 

Tanya on Instagram

Tanya on Pinterest 

7 Figure Investor

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 the week of February 23rd and each 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:

 

“You need to know what is happening with the market so you can adjust your strategy.”

 

“You don’t hide from the market - you go into it.”

 

“Don’t count on a downturn. Stay the course and keep doing what you are doing, just keep your ear to the ground.”

 

“If the market changes, react to that appropriately with the way you buy and sell properties.”

 

“I would pull your money out as soon as your financing company will let you, then rinse and repeat.”

 

“Doing one of these a year is a slow road and I am just not a slow road guy.”

 

“We play the game fairly.”

 

“Doing the work up front with a potential tenant is one of the most important aspects of being a landlord.”




Links:

7 Figure Investor

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 excited to have Joey Mure and Russ Morgan on the podcast today! Joey and Russ are the founders and partners at Wealth Without Wall Street, hosts of the popular podcast of the same name, and serial entrepreneurs who currently operate 19 short-term rentals, along with being involved in several other investment strategies. Joey and Russ also have a podcast that enables them to reach more people with the message of financial freedom and passive income.  They love talking about the challenges and motivations they experience as business owners to help others pursue financial freedom. 

 

We begin the episode with Joey and Russ sharing their background stories and how they ended up in real estate. Joey shared that he was in the mortgage industry for 11 years, and during that time, he became friends with Russ. Russ was a certified financial adviser, and he started referring clients to him. Their pivot point came when Russ learned something new from a book that he shared with him. It changed the way they looked at personal finance and how they controlled cash flow in their life. They joined forces, and in 2014 they started a partnership that birthed their Wealth Without Wall Street company.

 

We then talk about Joey and Russ's first investment strategy that they took action on. Joey came from a mortgage business, and the first investment he got into was in private lending. He loved its passivity, a check every month, and it was profitable, but Joey realized that he wanted something that added more velocity to his earnings. On the other hand, Russ started by buying a two-bedroom condo and started a long-term rental. From his experience, Russ learned that his personality style and investor DNA was of somebody who liked to be more involved, and he had to match who he was with the investments he was making.  

 

Next, we talk about what Russ and Joey did together when they combined forces to get things moving in their business. They share that the most important thing they did at the beginning was focusing on their own business. Wealth Without Wall Street was super dependent on them for the day-to-day operations. If they weren’t in a seat talking to somebody, they were not making money, and they had to figure out how to make their business more passive. They hired a consultant who advised them to build a coaching program by bringing in coaches, taking their knowledge, and putting it in a sustainable and repeatable process. Creating GPS (Goal. Plan, and Support) processes that they walk people through was hard work for a long time, and according to Joey, it made all the difference, and it freed them up to go out and implement other things.

 

We then talk about what Russ and Joey do to make passive income at a high level in addition to crypto mining and short-term rentals. They share that they have a land flipping business that buys property, turns them around, and sells them on terms to somebody else. They often acquire land investments from landowners who have land that they don’t use out of state and have bad taxes. They make it affordable to buyers by having the owner finance for about $200 or $300 a month. For marketing, the first people they market to are the neighbors, and 40% of their purchases come from them. They also market on social platforms such as Facebook and Craigslist. According to Russ, this business model has worked for them, and they produce $10,000 to $15,000 a month in cash flow, and it’s climbing.  

 

Lastly, we talk about what attracts Joey and Russ to short-term rentals as opposed to long-term rentals or regular leases. Joey shares that he has a two-bedroom and two-bathroom house that he has owned since 2004, and this was the first unit they turned into a short-term rental to see if they could get a higher cash flow from the market in 2019, right at the beginning of the pandemic. They marketed the unit on Airbnb as coming soon, and two weeks before it was even available, they were getting bookings. Those bookings exceeded by over $4000 within the first month. However, Joey and Russ's model is slightly different as they don’t buy the property. They lease the properties, and they furnish them. Their down payment is often $1,850 for a three-bedroom, $25,000 for the furnishing, and they still earn $15,000 to $24,000, which is about 66 to 100%, and way better than long-term rental deals.     

 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Joey Mure and Russ Morgan and get valuable information on how you can replace your income with passive investments to achieve financial freedom!



Notable Quotes:

 

“Financial freedom is a formula that can apply to anyone regardless of where they are.”

  • Joey Mure

 

“When doing short-term rentals, you have to identify and know who your guest is.“

  • Joey Mure

 

“The goal of financial freedom is making your monthly passive income greater than your monthly expenses.”

  • Russ Morgan



Links:

Website 

Joey and Russ’s LinkedIn

Joey and Russ's Facebook 

Joey and Russ’s Twitter 

Joey and Russ on Instagram 

7 Figure Investor

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 the week of February 16th and each 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:

 

“The market is always fine. It is how you adjust to it that counts.”

 

“When the market changes, you just have to change your approach.”

 

“There will always be some things that fall through the cracks.”

 

“To stay on top of your team, you need to be measuring their performance weekly.”

 

“Activities lead to results.”

 

“The key isn’t necessarily that your spouse believes in it like you do, but just that they support it.”

 

“You need to put her in a room with people that are already doing it and doing it successfully.”

 

“You are staying top-of-mind because you made an offer when no one else did.”

 

“Wholesalers hate it when they get no offers because they don’t know what to do next.”

 

“One of the mindset issues that I had to change right away was what I thought was possible.”

 

“I didn’t think my company was big enough to actually start hiring other people.”

 

“It is going to take more reps to get that hit.”




Links:

7 Figure Investor

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 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 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:

7 Figure Investor

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

 


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 the week of February 9th and each 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:

 

“Postcards for my company’s marketing were the cash cows… for years.”

 

“When COVID first hit, people were taking their mail out of the box with salad tongs.”

 

“PPC took the place of postcards in terms of the amount of calls we were getting.”

 

“We are more profitable now than when we were sending out the mail.”

 

“Cold calling was our number two lead source for a while.”

 

“We are increasing our radio marketing and trying some new things there.”

 

“I am not a big fan of doing five or six marketing channels because I think you end up doing some of them poorly.”

 

“The best talent isn’t always the talent that is within arm’s reach.”

 

“I wouldn’t let your Zoom burnout keep you for achieving everything you can achieve.”

 

“I am interested in making as many 7 Figure Investors as I can, right now.”




Links:

7 Figure Investor

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 Wakim. Paul is the founder of Fly Over Properties, a real estate photography company and he is also the co-founder of TwnSqr, a web-based company that works as a lead generation engine for real estate agents. Paul started TwnSqr as a project to create an algorithm to predict who was going to sell their house next so he could find more deals. TwnSqr is 100% free and very easy to use, and with the recent influx of institutional and hedge fund money moving into the single-family rental space, it’s focused on simplifying access to properties and giving investors the tools they need to quickly and easily sell their properties.

 

We begin the episode with Paul sharing his background story and how he ended up in real estate. He shares that he has always been his own boss, even through middle and high school. He owned a landscaping company with his brother, and he kept the business alive through college. He also started a real estate photography company with his wife, and they ended up working with the biggest real estate company on the east coast. For the first year and a half, Paul was the only photographer and had a lot of interaction with top agents and investors before they hired their first employees. The start-up was really a grind for him, but he’s happy to have started there.  

 

We then talk about Paul’s transition from real estate photography to investing in properties. He shares that he spent hundreds, probably thousands, of hours in the car listening to podcasts about real estate investing while he was driving around to do his work. They were the primary photography companies for some of the highest flippers, and he saw their operations and the kind of money they were making. All of this exposure to real estate led Paul to his own investment journey. He got his real estate license and eventually started ground-up residential development. Because he started as a realtor agent, he appreciated the experience it gave him about the real estate market. However, he says it’s not a necessity if you want to start investing.    

 

Next, we talk about Paul’s first investment in real estate. Paul shared that his first investment was a conservatorship which took them two years to complete. They ended up purchasing the house for a dollar in front of a judge, and then two weeks later, they sold it for $89,000. According to Paul, the deal was worth it, and he learned a lot in the process. Paul also shares that he lost his access to MLS when he started investing after getting rid of his realtor's license. As a result, he taught himself how to code and built a very rudimentary algorithm that successfully predicted who was going to sell their property next. This enabled him to wholesale properties for a profit and opened up an opportunity to do high and ground-up real estate construction.  

 

We then talk about Paul's coding algorithm and the company he created out of his coding experience.  Paul shares that the program was based on properties with similar attributes in the same neighborhood and geographical locations. From this coding experience, Paul built a web-based company called Twnsqr that serves as a predictor of who will sell next and as a lead generation engine primarily for real agents. However, according to Paul, COVID screwed up the prediction algorithm, and it’s no longer a part of Twnsqr. It also made it difficult for them to find people who wanted to sell on-market, and they primarily deal with off-market sales.       

 

Lastly, we talk about the process that they use on their platform to vet buyers for different properties. Paul shares that anybody can submit a proposal or an offer through the platform, but it’s up to the person who has posted the property to determine who they want to work with. According to Paul, when sending in your proposal, you can include your preferred purchasing price and information about yourself to increase your chances of getting the deal. However, they are working on incorporating profiles, proof of funds, and reviews to help sellers make the best decision possible. 

 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Paul Wakim and get valuable information on how you can buy and sell off-market properties with Twnsqr!



Notable Quotes:

 

“You don’t need to be a real estate agent to be an investor, but it will help 100% in understanding the legalities of the real estate market.”

  • Paul Wakim

 

“The best way to learn is to work for somebody for free. Just be valuable, absorb and ask questions without charging anything.”

  • Mike Simmons

 

“Listening to podcasts and interacting with people who are successful in real estate can help you get the ball rolling.“

  • Paul Wakim 




Links:

Twnsqr

Paul's Email 

Paul on LinkedIn

Paul on Instagram

Paul on Twitter 

Paul on Youtube

7 Figure Investor

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: Buying_and_selling_off_market_properties_with_Paul_Wakim.mp3
Category:Real Estate -- 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 the week of February 2nd and each 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:

 

“Here is the tough question - what is their motivation? Why do they need to sell?”

 

“When I was in sales, I would start out with kindness.”

 

“When it comes to long-term scaling up for your business, you are going to have to find other lenders besides banks and credit unions.”

 

“What I think is of great value to realtors are the leads that are not going to work for you as a wholesaler.”

 

“If you just got your first or second deal, what do you do to celebrate? Go get your third deal!”

 

“When I get a win, it makes me hungry for the next win.”

 

“I really want you to put that money back into your business.”

 

“Whenever I go out, go to a REIA and meet people, I am always happy I did.”

 

Links:

7 Figure Investor

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 excited to welcome Art Morrison III to the show today! Art is a former basketball player, the founder of AboveMAX Basketball, the CEO of United Home Relief, and the author of Overcome: The Key to Unlocking Your Superhuman. Following his retirement from basketball, he single-handedly built a basketball camp for children and later transitioned into real estate. He now seeks to teach young adults how to get into the real estate investing game and expedite their path to financial freedom. 

 

We begin the episode with Art sharing his background story and how he ended up in real estate. Art shares that after a rocky childhood, he went on to play collegiate basketball at a D2 school on scholarship and eventually to professional basketball in Portugal.  After moving on from his career, Art applied everything he learned in basketball in entrepreneurship to grow his organization, and later, his real estate business. He started investing in real estate in 2018, and he did over $2.5 million in transactions in his first two years in wholesaling. He later moved from wholesaling and flipping to doing full syndications, and he has done over $6 million in transactions, across 15 properties, in only three years.  

 

We then talk about how playing sports impacted his business life. Art shares that there is a lot of value in playing sports, being an athlete, or being part of any organization that requires discipline at a young age. When you apply discipline, character-building, persistence, teamwork, and commitment to entrepreneurship, you’re setting yourself up for success. Art was hungry for success, and he poured his efforts into basketball, which earned him a successful career. In real estate, it was no different; he knew how to play the game and how to win.

 

Next, we talk about how Art started his entrepreneurship journey after he left his basketball profession in 2014. Art stopped playing basketball because of injuries and corruption. As an entrepreneurial-minded athlete, Art didn’t want to get a job. He wanted to be in control, so he started a basketball organization. He was doing well, and he knew that if he applied the same efforts and principles in real estate, he would be successful. Art was in an industry that had a ceiling, and for him venturing into real estate, the sky was the limit. In 2018 he stepped forward to make his dream a reality. However, he didn’t do it openly until he got his first wholesale deal, which allowed him to make $40,000 from an off-market deal.

 

We then talk about why Art got into wholesaling and how he was able to scale it. Art shares that he wanted to own his own business and destiny. According to him, wholesaling fit well with his personality. From his studies, Art knew that wholesaling is an OPM (other people's money) strategy, and it was easy for him to scale up. After his first deal, he bought a multifamily property with the money that he earned from it. Art also got more deals from Instagram marketing, and he was able to do the same thing with his industrial partners. 

 

Lastly, we talk about how Art was raising money at the beginning of his real estate business.  Art shares that he had a trustworthy brand and network, and when he launched his real estate company, everybody knew he was smart and trustworthy. He had a professional basketball organization, and people trusted him with their children. This made it easier for them to trust him with their finances, and he was guaranteed a loan for the capital that he needed to scale his venture. However, later they shifted to the LLC space, and now they are limited to only accredited investors. According to Art, this experience has allowed them to build their brand on social media and in their demographic to raise more funds publicly.

 

Make sure you don’t miss another fantastic episode of the Just Start Real Estate Podcast with Art Morrison III and get valuable information on creative ways of starting and financing your real estate projects!



Notable Quotes:

 

“There’s a lot of value in playing sports, being an athlete, or being part of any organization that requires discipline at a young age.”

  • Art Morrison III

 

“You just need to find motivation. If you find a person who is not motivated to sell their property you might end up paying too much.”

  • Art Morrison IIII

 

“It doesn’t matter how much money you have, you need to educate yourself or you’ll lose it.“

  • Art Morrison III

 

“Investors invest money with people. They have to like you and trust you as a person.”

  • Mike Simmons 

 

“Success is not a coincidence - it’s about self-awareness of what your strengths and weaknesses, and creating a team that compliments you.” 

  • Mike Simmons 





Links:

Art’s Website 

Art on Instagram

Art on LinkedIn 

Art’s Book 

7 Figure Investor

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: Overcoming_obstacles_and_finding_your_superhuman_with_Art_Morrison.mp3
Category:Real Estate -- 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 the week of January 26th and each 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:

 

“There were a number of years that I argued you need to have financing in place before finding a property.”

 

“Just find the deal and the money will come.”

 

“Here’s the key - a good deal will always get funded.”

 

“If you think you are spending too much time analyzing deals, you probably are.”

 

“Be 80% sure of what you are talking about with your numbers.”

 

“Make the offer. It is going to start a dialogue.”

 

“Spend less time analyzing deals and make more offers.”

 

“I rain down hellfire on people that try to take my deals.”

 

“Make sure your relationships with your sellers are really strong.”

 

“A buyer can only go behind your back if a seller is willing to play.”

 

“Success leaves clues.”



Links:

7 Figure Investor

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 Drew White. After 10 years working as a pediatric nurse, he quit and became his own banker. Drew is now an entrepreneur and an investor, and he teaches real estate investors how to protect and store their wealth in their own highly liquid banking systems.

 

We begin the episode with Drew sharing his background story and how his entrepreneurship journey started. Drew shares that he graduated from nursing school with over $150,000 of student loan debt, which would require him to use 50% of his earnings over a long period of time to pay off. That was the first time he understood the true impact of the debt he had created. He and his wife paid the whole debt, leaving themselves with nothing. This experience gave him a hunger to create wealth-building side businesses to take control of his family finances.

 

We then talk about the basic and high-level steps of flipping a mobile home and how Drew conducts evaluations. Drew shares that to invest in mobile homes, you must know what you are doing, and just like in real estate, you must look for good deals. Basically, what he does is that he looks for someone to give him a down payment and then pay monthly payments for five to seven years. There is a fine line with mobile homes, if you fix them all the way up, you’re not going to get your money back, and the goal is to get your money back. 

 

Next, we talk about how to get good deals for your mobile home investments. Drew shares that a lot of it depends on the park you are in. and whether you’re doing it inside or outside a park. In a park, you should evaluate the state of the park, whether people want to be there and what is near the location. Drew says there is no exact formula for evaluation, and for him, he started by doing tests to find out what a mobile home goes for. As he got better, he started searching to find out what and how people were selling them in the market. According to him, many people don’t care what the total price is; what they care about is their monthly payment. 

 

We then talk about what infinite banking is and why he prefers putting his money there as opposed to the stock market, CD, and others. According to Drew, infinite banking is a way to create your own private, personal, or family banking system outside traditional banks using whole life insurance. With infinite banking, you also get more benefits compared to traditional banking, such as uninterrupted compound interest because it’s a whole life contract. When you use that money, you are using the insurance company’s money. Your money always grows in a tax-free manner and a guaranteed 4% rate plus dividends. In contrast, when you use a CD or savings account, you get less 0.2% on your savings, which interrupts any compounding that you have.  

 

Lastly, we talk about Drew's advice for people who are dissatisfied with their job. The first thing that Drew talks about is identifying your long-term goals. Sometimes people complain about where they are, but they don’t think about where they are going. According to Drew, there are different things you can do to create passive income and move from a job that is not paying you enough. The first thing that Drew recommends is to assess where you are and your short and long-term goals.  Start from the basics and be open-minded. There is no one size fits all when it comes to building a passive income. 

 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Drew White and get valuable information on how to start your entrepreneurial career and gain financial freedom!



Notable Quotes:

 

“There is a fine line with mobile homes - if you completely renovate them, you’re not going to get your money back.”

  • Drew White 

 

“The most curious people are the most successful.“

  • Mike Simmons

 

“A lot of people don’t care what the total price is of a mobile home. What they care about is their monthly payment.”

  • Drew White

 

“Most entrepreneurs are born when they are placed in the right environment.”

  • Mike Simmons





Links:

IBC Drew 

Drew’s Podcast

Drew on LinkedIn 

7 Figure Investor

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 the week of January 19th and each 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:

 

“There is always a right and a wrong way to conduct your business.”

 

“I have way more faith in direct mail than I do for cold calling for finding leads.”

 

“I don’t know of any cold calling system that can reach the level of response and revenue from direct mail.”

 

“Historically, direct mail is hands-down king.”

 

“My short answer is ‘Don’t wait.’”

 

“If you are going to hold a property for 10 or more years, buy now.”

 

“If you are buying at a discount, you can wholesale the property, or flip it, and sell it for a profit. That works in any market.”

“Figure out how to generate more leads so you can make more offers.”

 

“Real estate investing is all about two things - leads and money.”

 

“If you can generate leads and raise money, you can conquer the world in real estate.”

 

“Nothing in your business is important until you start generating leads.”

 

“This business is simple. It is not always easy, but it is simple.”

 

“The people who have success take consistent action, sometimes massive action.”

 

“The most successful people are the ones that start working and stop making excuses.”




Links:

7 Figure Investor

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 Dustin Heiner. Dustin is a successful investor and he started his real estate business from the ground up, with no money, no knowledge, and no properties. He has been able to build a business that makes him tens of thousands of dollars each month in passive income while giving him 40+ hours of his life back. With Master Passive Income, Dustin is on a mission to teach as many people as possible the step-by-step process of investing in real estate by building a business first.  

 

We begin the episode with Dustin sharing his background story and how he got into real estate. He shares that he got into real estate when he was first laid off from his county job. Though Dustin was lucky to get another one, he realized that he defined his value in terms of his job and needed to make sure it didn’t happen again. He decided to make his job his part-time career, and he became a full-time investor. Dustin invested in real estate, and when he was 37 years old, he was able to quit his job because he had so many rental properties that brought in income. Though Dustin was making $75,000 a year from his job, he discovered that he was losing money and needed to make more money on his own. 

 

We then talk about how Dustin found his properties when he got into real estate. He shares that in 2006 when he started investing, he was staying in California, and the price of properties was high. So, he started buying in other places with lower prices where he could still make passive income. From his experience, Dustin says that he started off the wrong way, but to do it right, you have to build the business first and then buy the inventory to put into the business. For him, he starts by finding a good city with a lot of inventory, potential properties that he can buy, then he finds the right property managers, and lastly, he finds the property itself. Dustin gets everybody that is going to run his business in before buying the property. This ensures that he gets it right and continues to make money in his new investments.  

 

Next, we talk about Dustin’s current strategy of acquiring and buying properties. Dustin shares that he uses everybody and anybody who wants to sell him a property. He identifies himself to everybody as an investor, and by doing that, people know that he’s a buyer. He’s always looking for new properties, and one reason he’s able to capture a lot of equity is that he puts out a lot of offers. And when it comes to choosing a property, he always opts for wholesalers rather than retailers because they work hard for his cash equities. However, one of the best tips Dustin recommends when getting properties capturing equity is finding a property on sale on the MLS and then contacting the seller’s realtor to help you get the property at a discount.  

 

We then talk about the financing side of Dustin’s investment strategy. According to Dustin, funding and managing a property fall under the same strategy. For him, he figures out tools that he can use in all parts of his business. For instance, if he needs to find a property, he needs realtors, wholesalers, other investors, and REIA groups. These are the tools and ways for him to find a property and the same thing with financing properties. He uses private money, hard money, credit card, loans, portfolio loans, mortgages, and commercials as tools, and he teaches his students to deploy them into properties. Dustin has used fourteen different ways to finance properties, but he says not all of them are a fit for every property. As an investor, you need to be problem solvers, and you need many tools to solve these problems and implement them in the best ways possible. 

 

Lastly, we talk about the economy of scales and why Dustin spreads his investments out. Dustin's main goal initially was to quit his job and have money coming in through passive income. He realized if he bought one property, it made $250 in a month and $3000 a year, which was not worth it. On the other hand, with 10 properties, he made $2500 a month and $30,000 a year without working, and with 20 properties, he made $20,000 a month and $60,000 a year passive income. For him, he knew he had to scale his business to get more and more. However, he discovered that investing in one area can be risky, and he started diversifying to build a consistent income

 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Dustin Heiner and get valuable information on low-risk strategies for acquiring properties and financing your projects!





Notable Quotes:

 

“Your value does not come from your job..”

  • Dustin Heiner 

 

“Your boss is paying you just enough to keep you working without quitting. They are not paying you for your value.”

  • Dustin Heiner 

 

“Don’t wait for your boss to lay you off, work on your passive income and instead lay them off.”

  • Dustin Heiner

 

“Don’t let any single thing ruin your business or your family income. Embrace diversity and be on the safe side.“

 

  • Mike Simmons

 

“As an investor, you need to be a problem solver and you need as many tools as possible to help you do that.”

  • Dustin Heiner 

 

“To be successful in real estate investments you have to build your business first, before buying the inventory to put into the business.”

  • Dustin Heiner 




Links:

Master Passive income

Dustin on LinkedIn

Dustin on YouTube

7 Figure Investor

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: Layoff_your_boss_through_passive_income_with_Dustin_Heiner.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 the week of January 12th and each 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 a short-sighted statement to say you need a partner to have credibility. You only need to do one or two deals to have credibility.”

 

“Partnerships can be very tricky.”

 

“Instead of bringing on a partner, invest in coaching or mentorship.”

 

“We don’t typically give earnest money deposits to the seller when we are doing wholesale deals.”

 

“Find someone to fund your EMD if it is a smoking deal.”

 

“You need to do a good job of listening to the sellers and truly empathizing with what they are going through.”

 

“You have to find out from them why selling their house to you is a better solution than putting it on the MLS.”

 

“When hiring, many times companies will trade a good culture fit for a particular skill set.”

 

“I almost had a full-out mutiny in my company when I hired purely for skills and not a good company culture fit.”



Links:

7 Figure Investor

Multifamily Live

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

 


I am thrilled to welcome my friend Adam Whitney to the podcast today! Adam is a co-owner and the CEO of Blackjack Real Estate and has served in the Marine Corps since 2004 and remains on active duty. He is a specialist in managing teams and possesses accountability traits learned in the military which are absolutely pivotal to being a successful entrepreneur.  Adam utilizes laser-focused marketing techniques in order to achieve his current level of success.

 

We begin the episode with Adam sharing his background story and how he ended up in real estate. He shares that he has served 17 years in active duty in the Marine Corps. He started investing in real estate in 2017 in rental properties but later got into a partnership in private welding. Adam realized he needed to develop the very important skills of marketing and sales in order to grow his business. By following flipping communities he ended up learning a ton in sales, finding marketing deals, and ultimately ended up as the CEO for Blackjack Real Estate.  

 

We then talk about how Bill Allen approached Adam when he wanted to pitch him the idea of buying Blackjack. He shares that it was less divine interaction than people usually think. He was on a podcast and a trip with Bill and that is where they started building their friendship. Adam was just working hard, trying to be a good person, and executing a game plan that the flipping group gave him. However, after the trip, Bill offered him an opportunity to be the majority owner of the company. Adam was shocked, but he was up for the task, and he knew he could help build and grow the company.

 

Next, we talk about Adam’s transition and what surprised him when he took the wheel. Adam shares that there were some assumptions that he made that were not true. One of the amazing things was that the company was without leadership or strategic guidance, but it was functioning well. According to Adam, when you take over something that is so successful, you tend to make assumptions that everything is being done for the right reasons. For him, he assumed that the people were in positions for the right reasons, but some of the people weren’t a good fit for the company. They didn’t meet the core values and did not execute in their roles. They had to let some employees go, which was a surprise to him, but it worked, and they stabilized. 

 

We then talk about Blackjack Real Estate company and where it stands at the moment. According to Adam, they are getting to that point where they’re getting the right people in the right seats. Adam says their big goal in the first quarter of 2022 is to get their leadership and their vision in place and to figure out who's going to lead their departments effectively. This should be the goal of every business. They also have a projection to hit $1.6 million this year and eventually go back to being a three million dollar company.

 

Next, we discuss the marketing and lead-generating strategies that are working best for Adam and his team. He shares that they are primarily doing direct mail, cold calling, and SEO for their business. Almost every business uses direct mail as the primary lead source, and they have been using the same postcards they have been using for a long time. However, in real estate, marketing, especially with direct mail, is all about timing. Your message has to hit the hand of a person who is in a position to sell or buy a property from you. Timing is everything, and if you want to get to the right hands at the right time, drop the production cost and do it more often.  

 

Lastly, we talk about KPI metrics role in growth. Adam shares that he looks at his metrics weekly. According to him, if you don’t have KPIs, it’s equivalent to driving in a foreign place without a GPS, and you are incapable of understanding your business. There are a lot of metrics that you can track in your business, such as your average contracts, calls, sales, and so on. Tracking these baseline numbers will help you understand your business, where things are going wrong, and what you need to address. The bottom line is that you have to know what is going on in your company, so tracking your KPIs is essential.

 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast! This interview with Adam Whitney was awesome and he provides so much valuable information on how you can establish yourself and thrive in real estate!



Notable Quotes:

 

“When we take over something that is so successful, we tend to make assumptions that everything is being done for the right reasons, which might not be the case.”

  • Adam Whitney

 

“Timing is everything, and if you want to get to the right hands at the right time, drop your production cost and do it more often.”

  • Mike Simmons

 

“Who you spend time with is who you become. Maximize your exposure to the people that are doing the things you want to be doing.”

  • Adam Whitney

 

"If you don’t have KPIs that you are tracking, it’s the equivalent to driving in a foreign place without a GPS, and you will be incapable of understanding your business.”

  • Adam Whitney

 

“It’s much harder to break through when operating in isolation without help or surrounding yourself with high achievers.”

  • Mike Simmons




Links:

Blackjack Real Estate 

Adam Whitney on LinkedIn

Adam Whitney on Facebook

Adam Whitney on Instagram

Adam Whitney on Twitter

7 Figure Investor

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 the week of January 5th and each 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:

 

“First you nail it, then you scale it.”

  • Mike Simmons quoting Andy McFarland

 

“I absolutely think you can do $1.2M with four or five employees.”

 

“The reason they most likely called you is that they can’t list their house on the MLS and it is your job to find out why.”

 

“We buy houses from people that need to sell their house quickly and for a fair price, in cash.”

 

“I am less interested in making year-long goals than I am in creating 90-day goals.”

 

“One of the failures of New Year’s Resolutions is that we lose momentum and motivation because they are too long-term.”

 

“Twelve-month goals get lost in the shuffle.”

 

“With 90-day goals, you can’t slip up very much or else you are in jeopardy of missing it.”




Links:

7 Figure Investor

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

 


I am happy to welcome Scott Smith to the podcast today! Scott is the founder of Royal Legal Solutions, a real estate investor, and asset protection attorney in Austin, Texas. He graduated from Albany Law School and began his career in high-stakes corporate litigation. Scott has spent the past eight years of his career diving through case law, mastering tax code, and analyzing real estate investments to help investors protect their hard-earned assets.

 

We begin the episode with Scott sharing his career background and how he ended up in real estate. Scott is an asset protection attorney and a long-time real estate investor. He started real estate investing while in law school. After college, he worked as a litigator suing insurance companies for denying coverage until he started making enough money in real estate. Scott had no intentions of starting a firm, but he created Royal Legal Solutions after realizing that people needed help in asset protection, estate planning, and tax issues. According to him, most real estate investors have a limited knowledge of legal protection strategies.

 

We then talk about the kind of real estate investments Scott made to start earning more than he was making as an attorney. He shares that he invested in single-family homes. For him, focusing on real estate and legal systems for seven years now with a team of five attorneys, seven paralegals, and over 2000 clients nationwide has given him an opportunity to expand and help people. Scott says that single-family homes are a great investment avenue, especially for your first ten properties. The level of passive income they provide makes them a great place to start and then investors can branch out when they are ready. 

 

Next, we talk about LLCs and how many times it’s the right entity to form. Scott shares that an LLC or a series of LLCs is always the right entity to form, especially during the initial stages. According to him, If you’re someone that does not have any properties yet, but you want to protect yourself personally and your clients from losses, you need an LLC to do that. Similarly, if you own one asset or real estate property, then you need an LLC so that you don’t hold assets under your name. For multiple pieces of real estate, the most efficient tool to use is a series LLC, which you can form in one state and use anywhere. This means if somebody sues you, they can’t take hold of your assets. Scott says that 95% of their clients are single-family home investors with one to seven properties, and the series LLC is by far the best vehicle of asset protection.

 

We then talk about ways that you can protect your real estate investments. Scott shares that the number one thing is knowing what is appropriate for you. Everybody has assets regardless of how much money they have in the bank account, their credit score, and they need to protect their access to funds. The way you protect your credit score is by establishing an LLC and operating through it for your contracts and any documentation that you’re signing. So, if a lawsuit is filed, it will sue the LLC because it’s the one that entered into an agreement and made the representation. This will give you a much cheaper downside where you can just form a new LLC versus having to defend a lawsuit that will cost you no less than $5000. According to him, LLC structures are so powerful when applied correctly.

 

Lastly, we talk about Scott’s company and what they offer. He shares that their approach has been to give away all the information and secrets for free. His goal is to get as many people as possible protected using the right structures. They offer an incredible amount of education for free on their website. Their giveaways include eBooks and instructional videos to get people educated to help them take action on their own or work with them. They put people who chose to work with them through an advisory process that walks them through the theories and structures that are appropriate for them. From there, they are assigned an attorney, a paralegal, and a dedicated team to help through the execution process to ensure they are doing the right things.   

 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Scott Smith and get valuable information on asset protection strategies that you must implement today!



Notable Quotes:

 

“Insurance protects you from most of the risks but it doesn't cover things like misleading someone in an email or text message or a breach of contract.”

  • Scott Smith 

 

“If you own one asset in real estate then you need an LLC. You don’t hold assets in your own name.”

  • Scott Smith

 

“You need to be thinking about ligation when you are dealing with any kind of person.”

  • Scott Smith

 

“The series LLC is by far the best vehicle for asset protection, but if you are starting out, then an LLC is better than having nothing at all.“

  • Scott Smith

 

“An LLC will give you a much cheaper downside if you get into a lawsuit by helping you form a new LLC versus having to defend a lawsuit.”

  • Scott Smith

 

“LLC structures are so powerful when applied correctly.”

  • Scott Smith 

 

“We need to look at the totality of what our lives are, and our investing should match what we’re trying to accomplish with our lives.” 

  • Scott Smith



Links:

Royal Legal Solutions

Scott on LinkedIn

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: Why_asset_protection_is_important_for_all_investors_with_Scott_Smith.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 the week of December 29th and each 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:

 

“I have several friends that are in the short-term rental market and they are handling them in vastly different ways from each other.”

 

“Most short-term rentals investors are getting enough return on their investment to pay off the property in 4 to 6 years.”

 

“Make sure the numbers make sense for you.”

 

“In real estate, you want to have a marketing budget that gives you a four-to-six-month runway.”

 

“The bigger a company gets, the slower it tends to move.”

 

“Use speed to your advantage in marketing.”

 

“Entrepreneurship can be really lonely. You have to surround yourself with people that remind you why you are doing what you are doing.”

 

“You have to have a really powerful ‘why” to stay motivated in your business.”





Links:

7 Figure Investor

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 Brent Bowers. Brent has five years of experience in the land wholesaling business. As an Army Officer with over eight years of service, Brent was spending a great deal of time away from his family, and he knew he needed a business that could help him be more present in his family life. His interest in real estate began in 2007 when he purchased his first rental house. From there, he started exploring real estate investing to support his family while enjoying more time with them.

 

We begin the episode with Brent sharing his backstory and how he ended up owning a very successful land company. After graduating from high school in 2004, Brent started a land company, and in 2007 he acquired his real estate license. He started buying rental houses and became a real estate agent, but it got so bad that he moved out to join the military. Some years later, Brent got back into business, this time into house hacking. It didn’t take long before he was in massive debt and broke again. To make things better, he started building a team, and in his quest, he stumbled on land business. He did several transactions, and before he knew it, his business was growing, which led him to his financial freedom, and ever since, he started focusing on land more.  

 

We then talk about Brent’s transition to the land business and the lessons he learned along the way. He shares that he was doing well in wholesaling, but he was still searching for the answers. He was running from the pain of losing his first marriage, and he didn’t want what happened to happen to him again. The thought of leaving crushed his soul, and he knew he had to have some businesses to take care of all their expenses if he was to leave the military to be with his family. Coincidentally, he heard a guy from a podcast who was buying land at a massive discount and tripling and quadrupling his money during sales. Brent thought he could do the same. He had a land business, he took action, and within three weeks, he was able to make sales and later stabilize his cash flow.   

 

Next, we talk about Brent’s wholesale company’s selling process. Brent’s biggest projects have been on land and assigning land contracts. According to him, a land business is unique because land doesn’t have a roof falling in, a foundation that needs fixing, or plumbing that needs repair. To find land for sale, Brent starts by finding an area, picking his playground, and then looking for land owners’ information from platforms like PropStream, Resource Guru, or the country tax treasury. The information includes their name and mailing address which he uses to send LOLs (Land Offer Letters).  

 

We then discuss how Brent deals with cases where buyers on long-term contracts default on their payments before the due period and the full payment are complete. According to Brent, this happens all the time, and one out of twelve will default. However, the bigger the down payment, the less likely the buyers will default. In some cases, they try to modify the loans to enable the buyers to pay in full, but sometimes they let the land go into default even after paying almost 78%, which is heartbreaking.  When this happens, Brent says that he usually cancels the contract by sending a certified letter or email through his attorney.

 

Lastly, we talk about Brent’s criteria and checklists for identifying land to buy. For Brent, his target is always 3x his money. He works with a margin of ⅓ of what land is worth, which guarantees him a return. When it comes to selling, Brent sales are triple the buying price, and the buyers often pay in installments with an interest of 9%. They operate on contracts for deed, the land remains under his name, and they don’t allow construction until the whole contract is paid.

 

Make sure you don’t miss this amazing episode of the Just Start Real Estate Podcast with Brent Bowers and get valuable information on real estate land investments!

 

Notable Quotes:

“Just start today, take action, and do it! We don’t always have the answers that we need tomorrow, but we have the answers for today.”

  • Brent Bowers

 

“What makes the land business different is that it doesn’t have a roof falling in or a foundation that needs fixing.”

  • Brent Bowers

 

“The bigger the downpayment the less the buyers are likely to default long-term payment contracts.”

  • Brent Bowers

 

“There’s a secret with every house especially when you flip them and renovate them.”

  • Brent Bowers

 

“Successful people in real estate are coincidentally the people who go out and take action.”

  • Mike Simmons 

 

“Implementors tend to be the luckiest and the most successful people.”  

  • Mike Simmons 



Links:

Brent's Website; The Land Shark

Brent Bowers on YouTube

Brent's Podcast

Brent on LinkedIn

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: How_to_invest_in_land_with_Brent_Bowers.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 the week of December 22nd and each 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:

 

“You just have to show up and ask the questions to get you where you want to be.”

 

“You need to have someone else’s hindsight to use as your foresight.”

 

“You need to sit down and really listen to a potential seller.”

 

“Solve the problem - buy the house.”

 

“Find out the problem so you can help them with the solution.”

 

“If direct mail and cold calling are working and you are happy with the results, I wouldn’t change a thing.”

 

“If something works, do more of it.”

 

“Niche marketing, and niche lists, are smaller and time-sensitive.”

 

Links:

7 Figure Investor

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 Nico Ortega. Nico is the co-founder and CEO at NUOVO. He has over eight years of experience in real estate development and more than five years of experience in real estate short-term rental multifamily properties. He’s knowledgeable in all aspects of the hospitality industry, from sourcing, management, operations, CXP,  and sales. He has proven management and leadership skills demonstrated by increasing property owners’ rental income with a margin of 20-30 % from what they earned before. 

We begin the episode with Nico sharing his background story and how he got into real estate. After graduating from college, he started working with his brother, who was in the industry but needed help with commercial real estate brokerages for a shopping mall. Two to three years later, they sold their project and went over to Miami, partnered, and did more projects in the real estate. They started their operations with five units of multifamily properties.

We then talk about Nico’s focus and the strategies they employed to identify properties that met their criteria. He says that their focus from the beginning was multifamily houses that were in top shape. They went after class A properties in downtown locations, so there was no need to negotiate renovation costs. To identify the suitable properties, they used a filter to select the best multifamily units available. For Nico, If he was to go back to 2015, he would take the same steps, but he would choose a different route in today’s real estate environment. Between 2015 and today, there have been a lot of new entrants in the market that are doing it on scale, and the competition for the same properties is growing. Initially, Nico said that their personalized approach was the reason for their growth and success. He personally went to the owners and regional managers to find the right fit. 

Next, we talk about Nico units determining criteria. Nico and his partner took into consideration a variety of factors, and the most important were management and ownership. They had experiences where they had an owner who didn’t understand the business 100%, and property managers were very skeptical, making it difficult to maintain long-lasting business relations. You need to find an owner who understands that it’s more about the consistency and safety of rental units and maintaining a margin. The second factor is the quality of the property. The property needs to be in tip-top shape and well taken care of. Thirdly, Nico says that hotels and motels have a strong influence on real estate. Lastly, Nico explains the importance of clarity in rules. Before you try to do real estate at scale or individual property management, you have to understand the area’s regulations.

We then discuss how Nico finances their real estate properties and his business strategy.  According to Nico, they usually have a benchmark between 1.7x and 2x for the rent. They had a very organic approach towards their growth, and they would send follow-up emails to clients explaining the advantages of security, consistency, a professional manager, and strong communication to remove skepticism in any contract Their occupancy is usually 80-85% depending on the season. They scale it using their revenue management system developed by a professor from his brother’s data analysis and machine learning MBA class. The revenue management system takes into account every internal and external including review, competition, and budget to produce a recommended rate.

Lastly, we talk about Nico’s market. According to Nico, his ideal property is a 25 unit property, with studios, one-bedroom, kitchen, in-unit laundry, no pools, and no front desk. If you’re such an owner, if you put your property in their program they will take care of everything from managing the customers to managing the units and payments. This is a passive income opportunity, and you will be generating 20-30% more for short-term rent than you were generating before.

Make sure you don’t miss this amazing episode of the Just Start Real Estate Podcast with Nico Ortega. Tune in! Get valuable information on creative ways of financing and growing your real estate projects!



Notable Quotes:

“If you see a property that is damaged, not well taken care of, the management is being super lenient with the upkeep of the property. That will come back and bite you.”

  •     Nico Ortega

 

“Hotels and motels have a strong influence on the real estate industry.”

  •     Nico Ortega

 

“Opportunities come when you least expect them to.”

  •   Nico Ortega

 

We don’t shy away from opportunities. We are going to look at it what people have available and try to help in whatever way we can if it fits whatever we’re looking for.”

  •   Nico Ortega

 

 

Links:

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Nico on LinkedIn

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Nico on Instagram

Nico on Twitter

Nico Email; nicostaynuovo.com/

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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