Episodes
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Today’s guest is Bruce Wuollet, the Founder and Owner of Bakerson LLC. Growing up in the bakery business in the Twin Cities in Minnesota, Bruce wanted to pay homage to his late father (hence the name, Bakerson). After trying his hands in a few different ventures in Minnesota, Chicago, and Phoenix, he finally found his niche in real estate. With a proven track record of success throughout Bakerson’s 20-year history and thousands of individual units bought, repositioned, and sold, Bruce has overseen all aspects of the business, from operations, acquisition, and project leadership to equity fund management, syndications, legal, finance, and more! His focus is finding good deals while his passion is serving residents, building relationships, and creating communities out of apartments. Listening in, you’ll learn why Bruce attributes Bakerson’s success to their hyper focus on workforce housing, coupled with their reputation for tackling ‘tough’ projects, which has provided them with tremendous credibility. Bruce also shares how his business has evolved over the last two decades and offers some insight into the value adds his tenants care about, some of the unique challenges and opportunities that come with workforce housing, and his innovative approach when it comes to long-term hold periods, as well as how his father taught him to value relationships, and so much more! Tune in today to learn more!
Key Points From This Episode:
A glimpse into the early days of Bakerson and how the business has evolved since.Why Bruce believes it was a mistake not to embrace wholesaling through technology.Insight into Bakerson’s focus on an underserved demographic: workforce housing.Defining who Bakerson serves as lower middle class and upper lower class.Value adds that Bruces’ tenants care most about: safe, functional, durable, and clean.Why amenities are less important than curb appeal for workforce housing.The pros and cons of working with properties built in the 1960s and ‘70s.Some of the biggest challenges and opportunities unique to workforce housing.Why Bruce values his connections with the communities that he invests in.Bruce shares his innovative approach when it comes to long-term hold periods.The three types of investors attracted to this model.Progress on the 65-unit motel conversion project Bruce is working on in Sierra Vista.Buying per square foot, having multiple contractors work in sync, and other key takeaways.How underwriting is impacted by inflation and supply chain delays.Hear the story behind the company name, Bakerson, and how it honors Bruce’s father.Bruces shares his vision for Bakerson in 10 years’ time; living off cashflow alone.Links Mentioned in Today’s Episode:
Bruce Wuollet on LinkedIn
Bakerson LLC
Bakerson LLC on LinkedIn
Bakerson LLC on Facebook
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
Vertical Street Ventures
Passive Income Through Multifamily Real Estate Facebook Group
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By now, most of us have heard about why coaching is so central to any sort of professional or personal progress. Here on the show today to drill down on this subject and share his amazing journey and philosophy toward growth is Nick Santonastasso, the author of Victim to Victor: How to Overcome the Victim Mentality to Live the Life You Love. Nick is also a keynote speaker at our upcoming Vertical Street Ventures National Conference. This conversation serves as a great introduction to Nick's passion and insight and is sure to get you even more motivated to go and get your ticket, if you have not already! Being born with Hanhart Syndrome, Nick has faced many challenges that are foreign to much of the population and, as you will hear in our chat, Nick believes this equipped him with a vital solution-oriented mindset; something he believes is indispensable to success. We hear from our guest about his ideas around pattern recognition, the AIA framework for change, gratitude practices, and his best advice for changing an emotional and mental state. For a fresh dose of energy and wisdom from a young man making waves, be sure to listen in to this great episode!
Key Points From This Episode:
Background on Nick and how his journey with Hanhart Syndrome has affected his outlook. Important lessons that Nick learned early about failure and solutions. The conditioned and unconscious thought patterns that govern the majority of what we do.Taking steps to become aware of dangerous mindsets and thought patterns.How self-inducement works and why our focus dictates how we feel. The ever-present possibility to change; why rewiring the brain is always an option.Confronting the victim mindset and our limiting beliefs! Contextualizing weaknesses and realistic expectations for how much progress we can make. The core of our limiting beliefs and how feeling worthy can impact this. How Nick uses questions to help his clients make breakthroughs. Nick's thought's on gratitude and his own practice around fostering it. The small promises that can aid us in building self-confidence and momentum. Nick explains his idea of finding leverage as a means for change. How to get in contact with Nick and looking forward to his keynote speech at the Vertical Street Ventures National Conference!Links Mentioned in Today’s Episode:
Nick Santonastasso on Instagram
Nick Santonastasso on Twitter
Victim to Victor
Tony Robbins
Joseph Campbell
Jim Rohn
Vertical Street Ventures
Vertical Street Ventures National Conference
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
Passive Income Through Multifamily Real Estate Facebook Group
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Dealing with things like depreciation, tax deductions, and cost segregation, can feel overwhelming and inaccessible as a first-time real estate investor, but it doesn’t need to be. Today on the show we chat with Erik Oliver, a Cost Segregation Expert and Regional Manager with Cost Segregation Authority, a company that specializes in Cost Segregation studies. We talk with Erik about how he pivoted to pursue this area of real estate and why he finds so much satisfaction in helping people save on their taxes. Tuning in you’ll hear Erik break down the role of depreciation in real estate, the mechanics of how it works, and how you can capitalize on it under the current tax laws. We also discuss when you can implement a cost segregation study based on the value of your property as well as other elements of your investments. Erik shares his advice for anyone looking to make a career change, as well as insights into how he maintains momentum in his work while raising young kids and making time to spend with his family. We had a great conversation with Erik, and if you’re interested in learning more about cost segregation, depreciation, and tax deductions, make sure you tune in today!
Key Points From This Episode:
Introducing today’s guest Erik Oliver a Cost Segregation Expert and Regional Manager with the company, Cost Segregation Authority.An overview of the Tax Cuts and Jobs Act and how that relates to cost segregation.Some of the motivations behind the Tax Cuts and Jobs Act.The standard depreciation that accumulates when you buy a building.The benefits of depreciation and why it doesn’t apply to land.A breakdown of cost segregation and the role it plays in depreciation.How cost segregation can accelerate depreciation.The IRS approved guidelines that cost segregation experts use in their processes.The difference between how personal property and real estate depreciates.The different approaches companies can take to evaluate a property’s worth.How a lookback study allows you to reevaluate the value of your property and incorporate a cost segregation study years after you acquired it.Insights on when to implement a cost segregation study depending on the value of your property and other aspects of your investments.A breakdown of what bonus depreciation means and how it relates to cost segregation.Erik’s advice to listeners who are considering a significant career change, particularly towards real estate.What Erik does to maintain a balance between the momentum in his career and having a family and young kids at home.Links Mentioned in Today’s Episode:
Cost Segregation Authority
Erik Oliver on Linkedin
Limitless Estates
Passive Income Through Multifamily Real Estate Facebook Group
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You’ve probably heard that the three most important things in real estate are location, location, location, but today’s guest believes that successful deals are more often about the people you invest with than anything else! Today, Peter Pomeroy speaks with architect and multifamily investor, Diana Lin, who focuses on acquisitions, strategic direction, and asset management at Navi Ventures. She is also an AIA Licensed architect with over 10 years of experience as a Project Manager and Project Architect in New York, Texas, and China. In her career as an architect, Diana designed and managed large-scale, award-winning buildings in office, multifamily, hospitality, and retail properties. In today’s episode, she sheds some light on her journey as a multifamily investor. From why she suggests joining a mentorship group to the benefits of prioritizing effective communication, Diana has some valuable insights to share, including her belief that it’s the people you partner with that make all the difference. Ultimately, she maintains that you can't do it by yourself; you have to leverage the expertise of others to help you be successful! Tune in today to learn more in this thought-provoking conversation with Diana Lin!
Key Points From This Episode:
Insight into Diana’s background and career trajectory from architecture to real estate.Why Diana and her husband started in multifamily and how they educated themselves and built up a network by joining a mentorship group.Finding her first investment; why Diana encourages listeners to attend multifamily meetups.Lessons she has learned about underwriting since doing due diligence on that first deal.Why successful deals are more about the people you invest with than the numbers.Advice for getting a sense of a deal sponsor prior to investing with them: ask around!Prioritizing effective communication as well as expected returns to mitigate uncertainty.Learn more about Navi Ventures and its focus.Their latest deal in Glendale, Arizona, and how Vertical Street Ventures contributed to it.The motivations behind doing a 506-B and Diana’s findings at the end of the process.How Navi Ventures leverages Diana and her husband’s backgrounds to attract investors.Diana shares her goals for Navi Ventures for the next 12 months and the next five years.What financial freedom means to Diana: more time with her family.How building relationships with good partners will take Navi Ventures to the next level.Links Mentioned in Today’s Episode:
Diana Lin on LinkedIn
Diana Lin Email
Navi Ventures
Vertical Street Ventures
Vertical Street Ventures Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
North Light Growth
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Systems and technology are an important side of any real estate business, but this doesn't mean there is not an equally important human element to what we do. This is one of the messages that today's guest, Melanie McDaniel, underlines in this fascinating conversation. Melanie is the Founder of Freestyle Capital Group, a boutique private equity firm, and we are so happy to welcome her to the show to talk about how she partners with investors, the Freestyle Fund, how she approaches building relationships, and her current investment focuses. We also get a little personal with Melanie, touching on her belief in intentionality and using real estate to design the life you actually want! Our guest talks about traveling and staying open-minded to a life that is not limited by external expectations and pressures, as well as how we might think about transitioning into active investment. So to hear all this inspiring, practical, and thought-provoking wisdom from Melanie, be sure to press play!
Key Points From This Episode:
Melanie's professional background and path to her current work in real estate. The common sense and learning that guided Melanie's decision to go into multifamily. Foundations and preparations; the work ethic that Melanie brought forward from her time in the military. The key steps in what Melanie offers investors through Freestyle Capital Group, and some information on the Freestyle Fund. How travel plays into and influences Melanie's life and work!Melanie shares her secret to finding new operating partners at conferences.The kinds of partners that Melanie aims to work with; a description of her ideal avatar. Facilitating and building long-term relationships with partners.Moving through deals and making the most of the nerve-wracking process. The types of deals that Melanie is currently focused on. Advice that Melanie would give herself about the temporary nature of things!Words of wisdom from Melanie for anyone considering getting in active investment. How and where to find Melanie online to make use of her great services.Links Mentioned in Today’s Episode:
Vertical Street Ventures
Melanie McDaniel on LinkedIn
Freestyle Capital Group
Melanie McDaniel Email
Melanie McDaniel on Twitter
Rich Dad, Poor Dad
BiggerPockets
Peter Pomeroy on LinkedIn
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Welcome to another episode of Passive Income Through Multifamily Real Estate. Joining us in conversation today is Tom Laune, founder of Bulletproof Wealth. Tom kicks off our conversation by giving us an overview of how banks make money and why that is important, before he gives us a definition for another way to process your money: infinite banking, which originated in Austria. He tells the story of losing his high-frequency hearing while working in the music industry, which sparked his realization that it’s so important to protect your livelihood. It was also through this experience that he learned the importance of moving forward one step at a time. Tom’s message comes down to the fact that you have to trust the person you are investing with, and he points us in the direction of a free resource he provides on his website, videos to guide your decision-making and help you to self-educate. In closing, he reminds listeners that changing the way you manage your finances is a process, and it’s not about the rate of return. We hope you join us to hear him pass along these lessons from his life and business today.
Key Points From This Episode:
An introduction to today’s guest, Tom Laune.Tom’s overview of how banks make money and why that is important.The crux of what he does: helping people to understand how banks make money and teaching them to do it themselves.Why everything he does is customized to individual customers.What infinite banking is: a process of controlling your personal banking in your own life.Term insurance and building equity which becomes yours. How a whole life policy protects you against fluctuating values.The main difference between banks and insurance companies.Why Variable Universal Life is a highly volatile product in comparison to Whole Life.Eligibility and funding requirements to qualify for Whole LifeHow the longer you fund it, the more it compounds.How insurance works to replace your income.The age-limited basis that Whole Life operates according to.How Tom is taking people’s real estate return of 12% and taking it to 200%.The long-term strategy leading up to your cash value increase to exceed what you put in.Why you get more life insurance while your cash value is going up.Why he invests in people rather than investments.Why he believes life insurance is so much more reliable than any bank.Where you can get his videos for free: on his website.Why the most important thing is always to be comfortable with the person you are lending from.The catalyst that put him on this track: losing his high-frequency hearing while working in the music industry. What it was like to lose his hearing.The hope that disability insurance created in his life.The importance of moving forward one step at a time.What he wants listeners to leave knowing: remember that this is not about rate of return, and know that it is a process.Links Mentioned in Today’s Episode:
Tom Laune on LinkedIn
Bulletproof Wealth
Limitless Estates
Passive Income Through Multifamily Real Estate Facebook Group
APT Capital Group
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Joining us in conversation today is Adam Benton, Founder of Stellar Senior Living, a luxury retirement home with 4,000 beds and over 2,500 employees operating across nine US states. Tuning in, you’ll hear the origin story of Stellar Senior Living, including a breakdown of the lease model that facilitated their start. Discover the details of how the cap rate increases in proportion to need, and what the different types of senior living communities look like at Stellar. Adam shares what to look for as an investor new to the senior living space, and gives an overview of some of the drivers behind growth in the industry contributing to a promising future. He also offers advice on how to facilitate a positive dynamic in a family-run business, and provides an inside look at the process at Stellar Senior Living, from purchase to operation. Listeners will also have the opportunity to hear about a key challenge Adam faced and how he overcame it, before he shares his hopes for the future of innovation in his industry. Tune in today to hear all this and more!
Key Points From This Episode:
An introduction to today’s guest, Stellar Senior Living Founder, Adam Benton. The origin story of Stellar Senior Living.How a lease model works and who it serves best.The different types of senior living communities at Stellar. How the cap rate increases in proportion to need from apartment to hospital.Other options to get into the senior living industry.An outline of the investment criteria for Stellar.The number one thing to look for if you are entering the industry.Why considering the team is such an important element of choosing where to invest.Why the demand calculation is so easy to do for senior living.Growth drivers for the industry including a longer lifespan and the number of baby boomers. Best practices that support harmony in a family-run business.A word of advice to get everything in writing even though you are working with family.The average hold time on a newly purchased property.Why it’s so important to make sure that you have an excellent operating team.A huge challenge that Adam experienced in Seattle.Innovation he would like to see in the senior living space in the future.Links Mentioned in Today’s Episode:
Adam Benton on LinkedIn
Stellar Senior Living
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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The world of real-estate investing is a wild ride and it takes a certain level of skill and experience to be able to face the challenges it presents. Today’s guest is a well-versed investor with a wealth of knowledge in both active and passive investment. Charles Carillo is a managing partner at Harborside Partners and the host of the Global Investors Podcast. Tuning in, you’ll hear about Charle’s real-estate upbringing, how his focus has shifted from C-class to B-class properties, what Harborside Partners’ investment strategy entails, and so much more! We delve into the things to consider when having conversations with investors before discussing why Charles does not seek investment to provide distribution. Finally, our guest shares a challenge he’s faced in his career and how he overcame it. Thank you for listening in!
Key Points From This Episode:
What led Charles to real estate investing and why his aim is to focus on B-class properties. Why Charles won’t use investors’ money for C-class properties. Charles talks about Harborside Partners and shares its business model with us.Charles shares Harborside Partners’ investment strategy and their plan for the next year.The dangers with not buying rate caps and how Charles has seen that play out recently. How Harborside Partners approaches conversations with investors. Why real estate investors only provide distributions based on cash flow.Charles tells us about a real-estate challenge he experienced and how he overcame it. What Charles has learned from his experience in an array of both active and passive investment opportunities.Links Mentioned in Today’s Episode:
Charles Carillo on LinkedIn
Charles Carillo on Twitter
Charles Carillo on Instagram
Global Investors Podcast on Apple Podcasts
Harborside Partners
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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Do you currently find yourself wondering about whether or not to do a cost segregation study? Or have you heard of it, but are wanting more information about the process? Then today’s episode is for you. Our guest on the show today is Joseph Viery, a cost segregation professional and the founder of US Tax Advisors Group Incorporated (USTAGI). By leveraging IRS-complaint cost segregation studies, Joseph has helped property owners defer or eliminate millions of dollars in income taxes. In our conversation with Joseph, we talk about what USTAGI encompasses and exactly what cost segregation is. He divulges an aha moment for listeners and also shares something he believes everyone should know about. To hear about the most common misconceptions investors make about cost segregation and his advice to passive investors, make sure not to miss out on this episode of Passive Income Through Multifamily Real Estate.
Key Points From This Episode:
The journey of how Joseph became a cost segregation professional (CSP).He explains more about the Us Tax Advisors Group.Joseph elaborates on what cost segregation is.What 100% bonus depreciation means. We divulge an aha moment for listeners.Joseph goes through the three reasons you wouldn’t want to do cost segregation. The point where it makes sense to consider cost segregation.Joseph shares something everyone should know about.The most common, incorrect, assumptions investors may have about cost segregation.Advice to passive investors to encourage reluctant sponsors to consider doing a cost segregation study.Links Mentioned in Today’s Episode:
Joseph Viery on LinkedIn
USTAGI
VSV Fund II
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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Today we host a fascinating conversation with Sief Khafagi, the Founder of Techvestor! After a successful career in tech and some time spent at Facebook, Sief took a leap into the unknown, resigning during the pandemic to spend more time with his young family. This led to him exploring the opportunity presented by the short-term rental space, and what he found inspired him to start his business. Essentially, Sief believed he could use data and a simple approach to value, to solve the common issues associated with short-term rentals, and in our conversation, we get to hear exactly how he and his team did this. Sief talks about his vision for the future, why he sees America becoming more mobile, and also gets into some of his personal habits and values that keep him healthy and grounded. Join us to hear it all from this inspiring guest!
Key Points From This Episode:
Sief takes us a through a little of his professional background and time at Facebook. The decision to leave Facebook and how this led to starting Techvestor. The problem that Sief aimed to solve with Techvestor, and how this evolved. Unpacking the simple business model at Techvestor. How Techvestor optimizes for revenue and profitability. Sief talks about their criteria for properties and their emphasis on seasons. The kinds of customers that Sief and his team are targeting. Exit strategies at Techvestor and the priorities for the process. Understanding the inclusion of a data page on the Techvestor website. Thinking outside of the box and finding the right investors to educate. The personal practices that help Sief stay on top of his work. How and where to connect with Sief and Techvestor!Links Mentioned in Today’s Episode:
Sief Khafagi on LinkedIn
Techvestor
Techvestor on Twitter
Vrbo
Airbnb
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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Mobile home parks are an interesting branch of passive real estate investments, and today we have a fascinating conversation about finding success and profit in this sector with Andrew Keel, from Keel Team. The CEO and Founder of the company, Andrew has managed to build a great portfolio and business around a hands-on approach to mobile homes, and we get the inside scoop from him on what has enabled him to do this. Andrew kicks things off by talking about how and why he landed in this type of asset class, and the factors and talents that have contributed to his passion and progress. From there, we get into a little about his geographic choices, how his philosophy has grown and evolved, and some of his thoughts on the current state of the market. We also touch on property management ideas, financing tools, and much more, so tune in to hear it all!
Key Points From This Episode:
How Andrew found his way into investing in mobile home parks. Andrew explains a little about the MHU and what they provide. The evolution of Andrew's investment and strategy. Andrew talks about the market, competition, and pricing over the last five years. How to go about building relationships and Andrew's approach with owners. The best value ad opportunities in Andrew's work. Low-hanging fruit that is not worth pursuing; Andrew talks about the hurdles he avoids. Andrew's best practices for property management.Financing and debt; Andrew talks about the typical practices at Keel Team. The hold strategy that Andrew and his team prefer. How the economic environment is impacting equity right now. The story of Andrew's third mobile home park and a close call with some gifted chili! How Andrew's experiences with Iron Man have improved his determination in business. The best place to find and connect with Andrew online!Links Mentioned in Today’s Episode:
Andrew Keel on LinkedIn
Keel Team
The Passive Mobile Home Park Investing Podcast
MHU
Deals on wheels
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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Today’s episode tells the story of twin brothers who, despite having no track record, no ownership experience, and very little equity, bet on themselves and jumped into starting a company together. Will Matheson and Evan Matheson are the co-founders of Matheson Capital and Will joins us today for a chat. In our conversation today we discuss what inspired the brothers to attend the real estate program at Columbia, Will’s thoughts on growing your network, and the flow of their acquisitions from small to large. He talks about investment strategies he’s most and least excited about and how investor sentiment has changed over the last 18 months. Tune in to hear his most memorable close-call experience as a real estate investor and how he dealt with it. For all this and more, start listening now.
Key Points From This Episode:
What made Will and his twin brother jump into the program at Columbia.Their start and how they scaled their company to a hundred million dollars.Will shares the flow of their acquisitions when they started their company. Growing the network out and his thoughts on having happy investors.When they decided to move from smaller to larger properties. He talks about their current business model and what that looks like.Product types that have piqued their interest in our current economic environment. The investment strategies he’s most and least excited about.The value ad properties he finds to be a real opportunity. Where their equity capital is coming from. His thoughts on how investor sentiment has changed over the last 18 months. The aspects of the deal they are currently focused on.Will shares a close-call experience as a real estate investor and how he dealt with it.Best practices for working with a co-founder; especially if that person is your twin.Links Mentioned in Today’s Episode:
Will Matheson on LinkedIn
Matheson Capital
Marcus & Millichap
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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When thinking of investing in property, the idea of the typical suburban home comes to mind, but have you ever considered property in the form of farmland? Join us as we welcome Artem Milinchuk, founder of FarmTogether, to discuss the benefits of investing in farmland. Discover how FarmTogether provides accredited investors access to institutional quality farmland, offering passive income and supporting sustainable agriculture. In our conversation, we explore the historical returns of farmland, its similarities to multi-family real estate, and FarmTogether's unique approach to acquiring and managing farmland. Artem explains the fundamentals of investing in farmland, the risks and benefits, the different products FarmTogether has for investors, and much more! Don't miss this insightful episode on the potential of farmland as an attractive investment option with Artem Milinchuk!
Key Points From This Episode:
Introduction and a brief background about today’s guest, Artem Milinchuk.The motivation behind starting FarmTogether.Discover how FarmTogether is helping farmers.Why investing in farmland is a good business decision.Learn about the similarities between multi-family real estate and farmland.Artem explains FarmTogether's business model.How FarmTogether is able to acquire properties.We discuss the range of farm sizes and locations FarmTogether has in its portfolio.Find out how seasonality impacts their investment approach.He unpacks the different options FarmTogether has for investors.Overview of the risks and benefits of investing in farmland.What the short-term goals of the company are.Artem shares advice for fellow entrepreneurs.Links Mentioned in Today’s Episode:
Artem Milinchuk on LinkedIn
Artem Milinchuk on Twitter
Artem Milinchuk Email
FarmTogether
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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Industrial real estate broker, owner, and Principal at Brit Properties, Joel Friedland, has a 40-year track record in industrial real estate, having secured more than 2,000 industrial property leases and sales. If you asked Joel his greatest career accomplishment, he would say that it’s his ability to maintain valued relationships spanning five decades. In today’s episode, he offers insight into his tried-and-true code of conduct for building lasting relationships, loosely based on Don Miguel Ruiz’s The Four Agreements (a highly recommended read from our guest). Joel also shares a few anecdotes that illustrate how you can build relationships anywhere, whether you’re driving down the road or picking up your dry cleaning. We take a deeper look at the industrial product type, current investor sentiments in the space, and the deal structure at Brit Properties. Tune in today for all this and more!
Key Points From This Episode:
The story of Joel’s introduction to industrial real estate.Joel’s guide to building relationships which starts with never taking it personally.Interested is interesting: how you can benefit from listening and asking questions.Why Joel loves the industrial product type (and his backyard market of Chicago).An insider’s look at Joel’s class B and C industrial niche.Investor sentiments in the industrial space post-COVID.All-cash, no mortgage, no debt: insight into Brit Properties’ deal structure.What to do first when you lose an investor's money.Tips for making major decisions.Links Mentioned in Today’s Episode:
Joel Friedland on LinkedIn
Brit Properties
The Four Agreements
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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Property managers are key players in getting the best deals for their investor clients. But it’s not only about the sale; there many are other ways that property managers help their sponsors maximize their earning potential on any given property. So, joining us today with some important advice on how to use property managers correctly is the Owner of Avant Garde, Anthony DeAugustine, and his Vice President, Bob Myers. After gaining a sense of the properties that our guests manage, we learn about investor behaviors surrounding value adds, whether mid-century rentals will reach a point where big renovations are justified, and why the Phoenix housing market is not on its deathbed as portrayed by mainstream media and analysts. Then, we get into the meat of our conversation as Anthony and Bob explain how they help their clients with preliminary evaluations, why construction and renovation costs matter, what ‘loss to lease’ and ‘contract service’ means, and why you should always have a replacement reserve fund. We end our discussion by taking a deeper look at value adds for mid-century, 50-unit properties, and our guests share some incredible advice for how first-timers and investors who want to scale up should approach Avant Garde and other property managers.
Key Points From This Episode:
A warm welcome to the team from Avant Garde, Anthony DeAugustine and Bob Myers.The properties that Avant Garde manages and how the market has changed since last year. Why investors are wary of taking on the value add risk with their exchange money. The vintage range of the properties that Avant Garde is currently managing. When (and if) rent for mid-century units will recover enough to accommodate big renovations.Why the Phoenix housing market is not doomed as the media paints it out to be. How Anthony and Bob help investor clients with their preliminary evaluations of properties.The importance of understanding the full scope of construction and renovation costs. Our guests define and then give examples of ‘loss to lease.’Listing everything that qualifies as a contract service, and how to right-size your expenses. Why you should always have a replacement reserve and where you should put the funds. Advice for how to work with companies like Avant Garde when scaling up your investments. What the perfect amount of value adds look like for a 50-unit, mid-century property.Links Mentioned in Today’s Episode:
Anthony DeAugustine on LinkedIn
Anthony DeAugustine Email
Anthony DeAugustine Phone Number: 602-741-8054
Bob Myers on LinkedIn
Bob Myers Email
Bob Myers Phone Number: 602-501-8271
Avant Garde
VSV Fund II
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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Age is not a limiting factor when it comes to pursuing a career in real estate investing. Many young individuals have achieved remarkable success in the field by leveraging their unique advantages and taking advantage of available opportunities. In today’s episode, we speak to one of those individuals, Caleb Johnson, about his real estate investment journey and how he has achieved incredible success at a young age. Caleb is an emerging investment luminary at Red Sea Capital. Remarkably, even before reaching the age of 25, he has amassed a staggering portfolio, valued at over 9 million dollars. Within this expansive collection lie multifamily and retail assets, each contributing to his remarkable success story. With an unwavering dedication to his faith and craft, he aims to forge a path as a faith-infused professional, fostering deep connections with investors and nurturing lasting relationships. It is through this guiding principle that he established Red Sea Capital in 2022, a dynamic and forward-thinking investment firm that operates with a vision for success and growth. In our conversation, Caleb shares his background and the inspiration behind his entrepreneurial journey. We delve into the topic of fear and how it serves as a motivation for him, how he initially got started in real estate and multi-level marketing, and his perspective on the current state of the real estate market. Drawing from his own entrepreneurial experience, Caleb shares valuable insights and lessons learned along the way. Tune in and find out the secret to real estate success with Caleb Johnson!
Key Points From This Episode:
Caleb’s background and what inspired his entrepreneurial journey.We discuss how fear keeps Caleb motivated.How he initially started in residential real estate: house hacking.Building up capital for investment as a young entrepreneur.He explains the ins and outs of multi-level marketing.What it takes to be successful at multi-level marketing.Caleb shares the lessons from his entrepreneurial experience.An overview of his approach to real estate investing.Insights about the Albuquerque real estate market.Why Caleb also chooses to invest in retail.Hear his perspective on the state of the real estate market.Details about his podcast and accountability coaching program.Caleb’s personal and career goals for the near future.Links Mentioned in Today’s Episode:
Caleb Johnson on LinkedIn
Red Sea Capital
Red Sea Capital: Accountability Coaching
From Trial to Triumph Podcast
BiggerPockets
Rich Dad Poor Dad
Rich Dad's CASHFLOW Quadrant
RaiseMasters
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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Today's guests, Anthony Faso and Cameron Christiansen, are dedicated to assisting individuals in achieving financial freedom through passive income. They do this through the concept of Infinite Wealth where they use whole life insurance policies to overfund and create cash value in a way that is heavily influenced by Robert Kiyosaki’s Rich Dad Poor Dad. In this episode, they delve into the concept of Infinite Banking, explaining how whole life insurance policies can be leveraged to overfund and create cash value. Additionally, they provide insights into the workings of conventional banks, outline the advantages of utilizing whole life insurance policies, and explain the impact of compound interest and simple interest on this strategy. The episode covers the process of obtaining funding through a policy like this, including qualification for individuals who earn a commission or lack a W2 job. Regardless of whether you are a younger person trying to carve out a monthly contribution for Infinite Banking, an older person who may feel that time is limited for engaging in this strategy, or someone somewhere in between, this episode is filled with insightful information and helpful advice to help you achieve financial freedom.
Key Points From This Episode:
An introduction to our guests and how they came to establish Infinite Wealth Consultants. The concept of Infinite Banking and how you can use whole life insurance policies to overfund and create cash value.Insight into how conventional banks work.What Infinite Banking is and how it works.The advantages of using whole life insurance policies. How compound interest and simple interest affect this. An explanation of how to get funded with a policy like this. How someone who earns a commission or doesn’t have a W2 job can qualify for something like this. Insight into how much you can borrow against your policy. What somebody should think about before taking money out of their whole life policy.Why our hosts believe we should be teaching this to our kids.What Anthony is doing to set his grandson up with a passive income. Encouragement for a younger person trying to carve out a monthly contribution for Infinite Banking.Advice for an older person who might not think there’s enough time to do Infinite Banking.How to get free access to the Infinite Wealth Consultants free online course.Links Mentioned in Today’s Episode:
Cameron Christiansen
Anthony Faso
Infinite Wealth Consultants
Rich Dad Poor Dad
Becoming Your Own Banker
Free Infinite Banking Course
Infinite Wealth Consultants on Facebook
Infinite Wealth Consultants on Instagram
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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Making money slowly isn't necessarily sexy but today’s guest has learned from experience that there is no better path to long-term wealth than long-term thinking. We are joined by Drew Breneman, who began his real estate career at just 19 years old when he started Breneman Capital and bought his first four rental properties with money earned from the internet business he started in high school. After earning degrees in Real Estate and Urban Land Economics from the University of Wisconsin, he worked for three national real estate development firms, each of which focused on different product types from office and retail to market-rate and affordable multifamily. Drew is also the co-founder of the Blackhawk Investment Group and Dwelle, a Chicago-focused real estate investment and property management group. In this episode, Drew tells us how his ambition for finding the best investment vehicle for his earnings led him to real estate and how his make-money-slow approach has allowed him to achieve an impressive internal rate of return (IRR). We also discuss the power of reinvesting, why Drew likes to “keep it simple,” and why he recommends that new investors learn by doing while keeping trends in mind, plus so much more! Be sure to tune in today for a fascinating conversation with born-entrepreneur, Drew Breneman.
Key Points From This Episode:
A look at the wide variety of entrepreneurial endeavors Drew has been involved in.How he found real estate while searching for the best investment vehicle for his earnings.Ways that long-term thinking or “delayed gratification" has played into his success.The story of how Drew acquired his first milestone investor and partner.How they achieved an average of 25% IRR across their deals in a 10-year period.The power of reinvesting and why Drew is so focused on the execution of every deal.What it means to Drew to keep things simple and how this reflects in his deals.The value of learning by doing and taking action (when it makes sense to do so).Drew's take on risk-adjusted returns and his advice for investors.How you can benefit from keeping trends in mind when considering an investment.Insight into Breneman Capital; markets, product types, investors, and more!Key lessons from the biggest mistake that Drew made as a real estate investor.How having a son has changed Drew’s perspective on success.Links Mentioned in Today’s Episode:
Drew Breneman on LinkedIn
Drew Breneman on Twitter
Drew Breneman on Instagram
Breneman Blueprint Podcast
Breneman Capital
FREE Real Estate Investor Guidebook for Passive Investors
Black Hawk Investment Group
Dwelle
Investing in Real Estate
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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Vertical Street Ventures has a very exciting new fund to introduce and joining us today on the Passive Income Through Multifamily Real Estate podcast is the wonderful Charlie Armendarez. Charlie is a very experienced financial advisor who is working with VSV on this innovative new fund. Tuning in, you’ll hear all about how he got involved with VSV, his career so far, what led him to real estate, and what motivated the launch of the new fund. It is imperative that investors think about their returns on a risk-adjusted basis and today, Charlie explains why that’s important before delving into how the fund diversifies investors’ money. He a talks us through the three classes of the fund, how they are presenting these deals, why working for our money in investment is essential and so much more! We also get to hear about the career he would choose if not real estate investing and finally, tells us about his '75 hard' experience. Thank you for listening in!
Key Points From This Episode:
A brief overview of today’s guest, Charlie Armendarez. How Charlie connected with Vertical Street Ventures. How his past experiences in his career relate to the work he is doing in real estate now. Charlie tells us about the motivation to launch the new VSV fund. Why it’s important for investors to be thinking about their returns on a risk-adjusted basis.The ways the new fund will diversify investors' money in different types of deals. Charlie tells us about the new fund's three different classes. Why people are more averse to taking risks now than they were before. Why questions arise about financing most often when it comes to this kind of investment. Charlie tells us the range of projected returns on the fund. How to present these different deals to potential investors. Why you cannot have the same expectations when interest rates change. Why we really have to work for our money when it comes to multifamily investment. Why Charlie would go into development if he had to choose a different career. The lessons that our guest has learned from '75 hard'.Links Mentioned in Today’s Episode:
Charlie Armendarez on LinkedIn
The Handbook of Mortgage-Backed Securities
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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In today's show, we have an in-depth chat with the Director of Investor Education at PassiveInvesting.com, Whitney Elkins-Hutten. Whitney has loads of wisdom to share when it comes to the process of entering the real estate game, generating a parallel income stream, and the strategies that can help you on a path to more financial independence. She is a partner in over $800 million in real estate investments across an array of asset classes, and also has a Ph.D. in community health and nutrition! One element of her current work is helping other investors implement the strategies used successfully by the wealthy, and by tuning in today, you can get a front seat for a few of these lessons! We cover regional choices, asset class options, building a strong team, and much more.
Key Points From This Episode:
Whitney shares her backstory and route into real estate fix and flips. Examples of a simple approach to the first big investment milestones. Appreciation and cash flow; Whitney talks about how she balances these two goals. Choosing the right investment markets for your needs and risk tolerance. Building the right team to complement and supplement your skillset. Whitney talks about her investment in express car washes.The top factors that contribute to operational success at PassiveInvesting.comRegion consolidation and how this grounds Whitney's business model. Translating the investment strategies and principles of billionaires. Whitney unpacks her list of important freedoms.How to find and connect with Whitney online.Links Mentioned in Today’s Episode:
VSVCon 2023
Whitney Elkins-Hutten on LinkedIn
PassiveInvesting.com
Passive Investing Made Simple
Rich Dad, Poor Dad
Bigger Pockets
Tribevest
Vertical Street Ventures
VSV Academy
Passive Income Through Multifamily Real Estate Facebook Group
Peter Pomeroy on LinkedIn
Peter Pomeroy Email
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