Just Start Real Estate with Mike Simmons

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

 


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