Episodes

  • You’ve most likely heard the saying, “Just find a good deal and the money will come.” But is that really how it works? According to today’s guest, that’s total hogwash. From personal experience, our guest believes that you need to build capital up before you go finding the perfect deal. Today on the show we welcome Dave Dubeau. Dave has been an entrepreneur since 1993 and a real estate investor since 2001. In that time, he has done deals ranging from creative, no money down transactions, rent-to-owns, and more recently, multifamily properties. Dave is the author of seven books and has been teaching and training people about marketing and real estate investing since 2006. In this episode, we are focusing on a very important and rather challenging niche as an active real estate investor; raising capital without rejection. Tuning in you will hear all about raising capital, the do’s and don’t’s, how to find the best investors for your business, where you need to focus if you’re just starting out in this business, he also shares about their three-step warm-up email campaign, and so much more! So make sure to tune in today!

    Key Points From This Episode:

    Dave shares more about himself and what he currently does.Why Dave thinks the saying: “Just find a good deal and the money will come,” is false.Why you should start by building capital before you find the “deal.”Dave’s recommendations for investors: self-finance your first few deals and gain experience.Best ways to find a group of investors before you have the deal; who should you focus on?The challenges: the know, like, and trust factor, and going by the law.Your starting point for building capital: your sphere of influence.Dave’s advice on the best way to approach potential investors: break the ice first.Hear about their three-step warm-up campaign email.Why it’s important to have a genuine reconnection with the people who get back to you.Dave shares an example of the third step in their campaign: allowing people to opt out.Conversion ratios: looking for a 10-15 percent response rate.How to show people what it is you are doing: slide show presentations.Lifetime value of a client: how to calculate the lifetime worth of your investor(s).He explains the referral multiplier and how that plays into the client’s lifetime value.The one tool he uses in real estate investing that he cannot do without: Zoom.The main takeaway from his biggest mistake in real estate investing thus far: money partner formula.What Dave needs to do now, to grow his life/business to the next level: delegating things out.

    Links Mentioned in Today’s Episode:

    Dave Dubeau on LinkedIn

    Dave Dubeau

    Dave Dubeau on Twitter

    Book a Chat with Dave

    Property Profits Podcast

    No Sweat Real Estate Investing

    The Rent To Own Solution To Home Ownership
    RedIQ
    Virtual Asset Management Summit 2021

  • It is in our best interest to find the most productive place to grow our wealth, but conventional tax-deferred retirement plans violate that principle. Today’s guest is Mark Willis and he joins us to share his wisdom on why we have been saving incorrectly, as well as how he can help! Mark is a man on a mission to help you think differently about your money, your economy, and your future. He is a certified financial planner, a three-time number-one bestselling author, and the owner of Lake Growth Financial Services, a financial firm in Chicago, Illinois. In this episode, Mark starts by explaining why tax-deferred retirement accounts aren’t great wealth preservation instruments. From there, he talks about how he can help clients grow their wealth consistently by teaching them to build tax-free streams of retirement income. He also explains how the stock market doesn’t produce the returns people believe it does and how he offers various contracts that provide clients a far better option for growing their money. Listeners also get to hear Mark weigh in on concepts like how to use money as a tool, how to move upstream financially, and how to meet your financial goals without taking on unnecessary risks. So for all this and more on the topic of what we can start doing to build real wealth today, be sure to tune in!

    Key Points From This Episode:

    Introducing Mark, his projects, and work helping his clients built real wealth.Mark helps listeners understand what tax-deferred retirement accounts are.How Mark helps clients build tax-free streams of retirement income.The real rate of return that investors can expect from the stock market.The link between volatility and the process of good stock market returns becoming bad ones.Contracts available provided by Mark that help clients grow their wealth consistently.The ideal attributes of an investment portfolio in Mark’s opinion.How people can meet their financial goals without taking unnecessary risks.Going upstream financially; going from the borrower to the banker.Mark’s favorite tool, biggest mistake, and life plan for reaching the next level.How to reach Mark online and take advantage of his amazing services!

    Tweetables:

    “The question is, would you rather pay your taxes on the seed or the harvest?” — @LakeGrowth [0:04:43]

    “Is it worth the market madness that we’ve gone through over the last 30 years, which includes a couple of great bull markets, is it really worth 3.8%? I’m going to say no with my money.” — @LakeGrowth [0:08:05]

    “A contract and insurance gives you a predictable increase of wealth every single year.

    One of those contracts is whole life insurance, that’s one but there’s maybe two dozen or so that we’ve specialized in, in our firm.” — @LakeGrowth [0:11:37]

    Links Mentioned in Today’s Episode:

    Mark Willis on LinkedIn

    Mark Willis on Twitter

    Lake Growth Financial Services

    Not Your Average Financial Podcast

    Bank on Yourself Link

    DALBAR Investor Report 2020
    RedIQ
    Virtual Asset Management Summit 2021

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  • We have often spoken about the importance of mentors when growing your real estate business and acumen, and today we chat to Jenny Gou from Vertical Street Ventures about the benefits she has experienced through mentorship! Jenny currently oversees asset management and investor relations at her company, having gone full-time after leaving her career in the corporate space to pursue multifamily real estate. In our conversation, we cover all the important aspects of finding and connecting with potential mentors, exactly how these relationships can improve your approach and business, and the most important things to keep in mind in this process. Jenny underlines the value of action taken to achieve goals, stressing the necessity to keep moving forward with purpose in order to grow. Listeners will also hear about the unusual development in which Jenny's mentor became her business partner after they realized how well suited they were to working together! This episode covers valuable lessons that Jenny has learned, how to approach people in the right way, and the importance of consistent dedication to networking. For all this and more from Jenny, be sure to listen in!

    Key Points From This Episode:

    Jenny's corporate background, entry into real estate investing, and forays in multifamily. The need for a mentor and how Jenny reached this realization in her own journey. The important factors that Jenny prioritized when looking for a mentor. Jenny's unusual case of her mentor becoming her business partner! The importance of the right kind of introduction and research for a prospective mentor relationship. Jenny's process around the decision to transition into real estate and multifamily investing. Reflecting on the benefits of the relationship that Jenny has had with her mentor. Thoughts on seeking out a mentor and putting in place the right building blocks. How Jenny turned a mentor relationship into a business partnership. Spreading a wide net and meeting as many people and potential mentors as possible. The 'final four' with Jenny; her favorite tool, mistakes, growth, and where to find her online!

    Tweetables:

    "We quickly realized, we wanted to scale up faster, grow faster and really, the only way to do that was to dive into the multifamily side of the business.” — Jenny Gou [0:02:05]

    “I wanted somebody who was at that point in their lives that had that success track record that I wanted and I saw for myself and my family.” — Jenny Gou [0:05:13]

    “I found somebody who I personally find that had integrity, that had transparency, that had a growth mindset, something that I try to hold myself to day in and day out.” — Jenny Gou [0:05:47]

    Links Mentioned in Today’s Episode:

    APT Capital Group

    Jenny Gou on LinkedIn

    Vertical Street Ventures
    RedIQ
    Virtual Asset Management Summit 2021

  • Real estate business can be seen as a constant process of scaling, and whether it is your systems, employee numbers, deal flow, or profits, managing these growth processes well will determine your ultimate success. Here to share his thoughts on healthy scaling is Hemal Badiani, the CEO of Exponential Equity. As you can hear from the name of his company, Hemal is very focused on growth and numbers and he generously shares his philosophy towards the real estate game and how his background in finance has helped inform this. We talk to Hemal about the incredible period of 100 days in which he and his team closed on three deals, discussing the lessons learned, the contributing factors, and reflections on a busy three months! Our guest makes sure to underline the value of self-knowledge, intentionality, and mindset, and the role these can play as you up your game. We also get to talk about non-local markets, avoiding overly hasty scaling, and creating a suitable funnel to source good deals. Hemal weighs in on smart hires and how to go about building a strong team around your own strengths, so make sure to tune in to hear all this and much more!

    Key Points From This Episode:

    An introduction to Hemal, his company Exponential Equity, and work in banking. The period of 100 days in which Hemal closed three deals!The importance of a strong team with a good structure; how Hemal approaches this.Three components that boost Exponential Equity's deal flow, and help them find worthwhile deals from these.The lessons about infrastructure, mindset, and foundation that Hemal learned from his recent three deals.Reflections on the necessary communication practices to improve the ease of closing deals.Hemal's thoughts on current market trends and the short-term future. Why Hemal believes in exploring markets beyond the immediately local ones. The key components to scaling according to Hemal; intentionality and knowing your own strengths.The dangers of hasty scaling and combatting these with good processes and discipline.Approaches to hiring a great team; early hires and filling in the gaps in your own skillset.Hemal's deep reliance on his calendar for his work in real estate. An example of a recent mistake that taught Hemal a valuable lesson about due diligence. The strategic partnerships that Hemal sees taking his business to the next level.Where to connect and find out more about Hemal and his inspiring work!

    Tweetables:

    “As I started my own entrepreneurial journey, that’s all helped me build a culture and a vision for the type of enterprise that we’re building in the commercial space.” — Hemal Badiani [0:02:27]

    “We believe at least 200 opportunities a month would allow us to take one or two deals that we’re looking to take from an acquisition standpoint.” — Hemal Badiani [0:04:26]

    “As long as we are disciplined in our approach with the fiduciary responsibility to our investors on what we are bringing to the table, that allows us to create a long-term established brand.” — Hemal Badiani [0:07:16]

    Links Mentioned in Today’s Episode:

    Hemal Badiani on LinkedIn

    Exponential Equity

    Hemal Badiani on Facebook

    Hemal Badiani Email
    RedIQ
    Virtual Asset Management Summit 2021

  • Today, we speak with our very own Gary Lipsky about the 2021 Virtual Asset Management Summit. Gary is a successful asset manager and is the founder and managing partner of ATP Capital. Before we dive into things, Gary shares a little bit of information about APT Capital Group, which focuses on B and C value-add properties in the Phoenix and Tucson areas. We then get into the crux of this episode, as Gary shares all the exciting details about last year’s event and what we can look forward to with this year’s summit. Gary recaps 2020’s extensive range of guests which included Gene Towbridge, Brandon Hall, and Hunter Thompson, to name a few. This year, APT is hoping to expand on their panel of guests and plan on tackling a range of topics that aren’t ever covered in summits. With free and VIP options to choose from, the Asset Management Summit caters to all types of investors; active, passive, big, and small. Toward the end of the show, Gary also talks about why creating a summit is beneficial to those who host it. Following this, Gary looks toward the future and tells us about the upcoming book, Best In Class, detailing how it covers tax, due diligence, and a whole lot more. To conclude, we ask Gary our final four set of questions and find out what tools he can’t do without, and his biggest business blunder, and how he overcame it. For more, be sure to tune in today!

    Key Points From This Episode:

    Introducing today’s guest, our very own Gary Lipsky.More about Gary’s background.What value APT Capital provides. Why Gary felt compelled to create a summit with a different angle. Gary describes how the event went in 2020.What sets the Asset Management Summit apart from other summits.How active and passive investors can benefit from the summit.Gary shares a scoop on what this year’s summit will look like. Hear who this year’s expected guests are.The VIP access has some unmissable 2021 offerings.Reasons behind creating a free event.Hosting a summit can help with company growth and brand recognition.Find out what the real estate future holds.We ask Gary our final four set of questions.

    Links Mentioned in Today’s Episode:

    Passive Income Through Multifamily Real Estate Facebook Group

    Free Call with Kyle or Lalita

    Gary Lipsky on LinkedIn

    Gary Lipsky on Twitter

    Brandon Hall

    Hunter Thompson

    Reed Goossens

    Jay Scott

    Neal Bawa

    Brian Burke

    Joe Fairless

    Whova

    Zoom

    Virtual Asset Management Summit Sign Up

    Last year’s summit recordings

    APT Capital Group

    Asset Management Mastery
    RedIQ

  • One of the most recession-resistant asset classes is warehouse investment, and today we sit with industry expert Scott Krone to find out why. With a Master’s of Architecture from Illinois Institute of Technology, Scott is the Founder of Coda Management Group; a company that specializes in creating and seeking existing warehouse investment opportunities. We open the show by hearing more from Scott about Coda and what they do in the real estate space. Scott then talks about warehouses as an asset class and draws relatable comparisons to multi-family. He notes why warehouse investment is a simplified version of multifamily, and how they’re typically favorable toward NNN leases. Looking at present times, we ask Scott to tell us about how his warehouses have performed during the coronavirus pandemic. Listeners will delight in some of the ways this asset class has soared, as Scott uses examples of basketball and indoor golf. Following this, Scott gets into the nitty-gritty things and explains how he evaluates markets for warehouse opportunities, the strengths of warehouse opportunities, and who he works with to find inventory. To conclude the show, we ask Scott about his biggest business blunders and what his most useful industry tool is. Be sure to join us today!

    Key Points From This Episode:

    Introducing today’s guest Scott Krone.We hear a little bit about Scott’s background.Scott tells us about what he currently does with Coda.Hear about warehouses as an asset class.What makes warehouse leasing so similar to multi-family.How the warehouse space has coped with the coronavirus pandemic.Driving factors that make investing in the warehouse space interesting for Scott.How Scott evaluates markets for warehouse opportunities.Who Scott works with to find inventory.Scott lists his top three strengths for warehouse investing.The cautions that come with warehouse investment.What a typical investment plan looks like for Scott’s warehouses.Find out how Scott chooses his tenants and what the perfect lease plan is.One tool Scott uses in real estate investing he cannot do without.Scott’s biggest business mistake.

    Tweetables:

    “Our main portfolio of investments right now is actively pursuing self-storage opportunities — either creating them or looking for existing opportunities.” — Scott Krone [0:02:03]

    “If you’re doing a triple net lease, then it’s just straight income to you and your tenant takes care of the rest. So within our flex warehouse space, we have modified gross and triple net leases. It’s much easier for us to manage compared to multi-family.” — Scott Krone [0:03:27]

    “Warehouses are much more predictable. We could look at demographics, saturations, market rates — it’s a lot more analytical than comparatively to multi-family.” — Scott Krone [0:02:05]

    “We’re not going in paying top dollar, we’re coming in and making sure that we have a competitive advantage once we do buy. We truly believe that you make your money on the buy, not on the sell.” — Scott Krone [0:09:01]

    Links Mentioned in Today’s Episode:

    Passive Income Through Multifamily Real Estate Facebook Group

    Free Call with Kyle or Lalita

    Scott Krone on LinkedIn

    Coda Management Group

    Coda Management Group email

    Illinois Institute of Technology

    RedIQ
    Virtual Asset Management Summit 2021

  • The qualities needed to be an excellent salesperson are the same qualities that are found among successful real estate investors. Today we speak with serial tech entrepreneur and Uvaro CEO Joseph Fung about the many parallels between sales and real estate. We open our conversation by exploring why many real estate professionals are entering the tech space as salespeople. Joseph then shares how his company trains people to sell tech products. Reflecting on his experience, Joseph unpacks the practices that lead to being a top salesperson. After highlighting how many of these practices come naturally to real estate investors, we discuss why the prevalence of technical solutions means that quality salesmanship has never been more important to tech companies. From sales to company-building, we ask Joseph for insights on creating and scaling strong businesses. His answers touch on the importance of company culture, setting values, and hiring the right people. Later, we chat about why Joseph primarily invests in women-led companies before asking him about the tools that he can’t live without, his biggest investing mistake, and what he’s doing to take his life to the next level. Tune in to hear Joseph’s insights on sales, startups, and setting up your company.

    Key Points From This Episode:

    Introducing today’s guest, serial entrepreneur and Uvaro CEO Joseph Fung.How real estate professionals have found sales roles in the tech world.Why you don’t need to know how to code to join tech companies.Exploring Uvaro’s unique business model.Hear about the top practices that will boost your sales.Why quality salesmanship is increasingly needed in tech.The importance of setting the right company culture.What Joseph does to ensure that company values are promoted. Why founders and CEOs need to follow company values.Joseph shares his super secret weapon to scaling startups.Advice on making your first company hires.We talk about why Joseph invests in women-led companies.

    Tweetables:

    “I’ve scaled a number of tech companies and growing a sales team has always been one of the biggest challenges.” — @josephfung [0:02:56]

    “If you build a really good culture, you’ll attract the right people and they’ll solve problems and treat your customers well.” — @josephfung [0:10:20]

    “Build a shortlist of people who you want to work with and tell them that. When you do end up working together, they become the biggest flag bearers of your company’s culture, vision, and mission.” — @josephfung [0:16:34]

    Links Mentioned in Today’s Episode:

    Joseph Fung on LinkedIn

    Joseph Fung on Twitter

    Uvaro

    University of Waterloo

    Slack

    Kiva

    Vidyard

    APT Capital Group

    Passive Income Through Multifamily Real Estate on Facebook

    Schedule a Call with Kyle Mitchell
    RedIQ
    Virtual Asset Management Summit 2021

  • Creating wealth out of the opportunities found in commercial real estate can be challenging and daunting. Tough, it doesn’t need to be. If you can hone your skills through mentorship programs, find good partners and sponsors, and ask intelligent questions, the rest will take car of itself. Today our guest is Trevor Thompson, and although his entry into real estate has been a little less than conventional, he has closed nine successful deals in his real estate career to date. To open the show, Trevor talks about his professional history and touches on companies he’s worked for like Ripley’s Believe it or Not and Guinness World Records. We then dig deeper into his real estate journey and find out why he chose multifamily as his niche. Trevor goes on to tell us about his first deal, as well as the value he found in mentorship programs as an up-and-comer. As our conversation develops, Trevor talks about some of his key lessons, some of which have come from managing assets during the height of the Coronavirus pandemic. Later, we ask Trevor about how he keeps his portfolio diverse, and the best ways he connects with sponsors. To bring the show to a close, Trevor gives answers to questions about which real estate tools he uses most, some of his biggest mistakes, and what you need to know to grow your life to the next level. Be sure to join us!

    Key Points From This Episode:

    Introducing Trevor Thompson to the show.We give a brief background of Trevor’s professional career.Trevor expands on his journey and tells listeners about his colorful history.How Trevor entered passive income.Hear about Trevor’s first deal.Why you should join a mentorship program. Some of the key lessons Trevor has learned during his time in commercial real estate.How Trevor has ensured diversification among his nine investments.The boxes Trevor checks when looking for sponsors.Trevor talks about his hit rate when it comes to viewing deals.Hear about how Trevor’s assets have performed during COVID.The types of intelligent questions Trevor asks sponsors and partners.Hear our final-four questions for Trevor.

    Tweetables:

    “Feeling part of a community made me feel a lot safer in doing this investing.” — Trevor Thompson [0:03:54]

    “I definitely learned that going into deep value-add and then running into a pandemic is much more challenging.” — Trevor Thompson [0:05:00]

    “I wanted to be able to be diverse so that it could understand definitely different asset classes … I wanted to earn and learn.” — Trevor Thompson [0:08:10]

    Links Mentioned in Today’s Episode:

    Passive Income Through Multifamily Real Estate Facebook Group

    Free Call with Kyle or Lalita

    Trevor Thompson on LinkedIn

    Trevor Thompson on Facebook

    Ripley's Believe It or Not

    Guinness World Records

    iFLY Indoor Skydiving

    Rich Dad, Poor Dad

    Zoom
    RedIQ
    Virtual Asset Management Summit 2021

  • It's not every day you meet a broker who has sold over 1.2 billion dollars in commercial real estate. Today’s guest, Brent Sprenkle, has done just that. He has more than 20 years of experience as a broker in Los Angeles at two of the nation's top firms, Berkadia and Sperry Van Ness. Brent helps his clients achieve their goals of exchange, expansion, consolidation, and disposition. In this episode, Brent sheds light on the current state of things given the pandemic, where he touches on deal volume, rent changes, and the eviction moratorium. We also talk about how to mitigate the risk of the moratorium if you are buying properties at the moment. Even though California's landlord-tenant laws are less than favorable, Brent shares why it is still such a great place to invest in property. The show wraps up with Brent giving his top tips on connecting with your broker. Tune in today!

    Key Points From This Episode:

    Get to know Brent, his real estate journey, and what he's up to now.Deal volume in 2020 and the outlook for 2021.Brent's experience of how investor sentiment has changed as the pandemic has continued.Seller versus buyer expectations: what Brent is doing to bridge the gap.Rent changes in California and difficulties in the different asset classes.Brent's take on when the eviction moratorium will end.Some of the ways that you can underwrite to reduce eviction moratorium risk.Why California is still a good place to buy multifamily.Hear about the ADU program, which Brent calls the next big thing in multifamily.The biggest lesson Brent has learned about being a successful real estate investor.Brent's top tips on building and maintaining a relationship with a broker.Final four with Brent: The tool he can't do without, his biggest mistake, and more.

    Tweetables:

    “Now, vacancies are not really much fun. Lenders are also cognizant of it and when these buildings have over, you know, five, 10% vacancy, they’re pulling back on the proceeds or they just don’t want to fund it at all.” — Brent Sprenkle [0:07:43]

    “If you're buying now, you just have to underwrite properly. Just keep in mind that brokers are always telling you that there’s no collection issues.” — Brent Sprenkle [0:10:53]

    “California is always going to have more appreciation on values on the rents than other states.” — Brent Sprenkle [0:13:14]

    “This is a long game. It takes patience.” — Brent Sprenkle [0:16:47]

    Links Mentioned in Today’s Episode:

    Brent Sprenkle

    Brent Sprenkle Email

    Brent Sprenkle Phone Number — 310-621-8221

    Berkadia

    SVN

    Billion Dollar Portfolio

    APT Capital Group

    Passive Income Through Multifamily Real Estate on Facebook

    Schedule a Call with Kyle Mitchell
    Garzella Group
    Virtual Asset Management Summit 2021

  • When the COVID pandemic hit, numerous experts anticipated that America’s single-family market would experience a downturn. Despite expectations, many single-family investors have thrived through COVID. Today we speak with Real Wealth Network Co-CEO Kathy Fettke about the state of single-family real estate and why real estate is still blessed with abundant opportunity. We open our conversation by talking about Kathy’s background and how she first learned about real estate and creating passive income streams. Then we dive into what the single-family market looked like before the pandemic, with Kathy sharing insights into past trends that the pandemic has only accelerated. Following this, we discuss why some single-family markets have thrived in the face of the pandemic. We touch on how many people have prioritized paying their rent and why good operators haven’t missed many rent collections. A key theme in this episode, we explore ways to minimize your risk, why every city and market behaves differently, and the importance of timing when jumping into new opportunities. Later we ask Kathy about her thoughts on the Biden administration. As she explains, real estate has strengthened during the pandemic. Tune in to hear Kathy’s best practices about thriving within difficult times.

    Key Points From This Episode:

    Introducing Real Wealth Network Co-CEO Kathy Fettke.Kathy shares details about her background and how she learned to create passive income.Why it’s never too late to learn how to create wealth. An overview of the pre-pandemic single-family market.How Kathy began her business helping investors buy out-of-state property.Why Kathy’s business has thrived during the pandemic.Tips on finding and investing in lower-risk markets. Hear Kathy’s view that “market timing is everything.”Insights into new opportunities arising in multi-family. Why Kathy isn’t fearful of how the Biden administration will impact real estate. Kathy discusses her current investing strategy and her top areas to buy in.From her most valuable tool to her biggest mistakes, Kathy answers our fast final four questions.

    Links Mentioned in Today’s Episode:

    Kathy Fettke on LinkedIn

    Kathy Fettke on Twitter

    Real Wealth Network
    Real Wealth Show on Apple Podcasts

    Richard Fettke

    APT Capital Group

    Passive Income Through Multifamily Real Estate on Facebook

    Schedule a Call with Kyle Mitchell

    Goldman Sachs

    FOX News

    CNBC

    Bloomberg

    ABC

    CNN

    Robert Kiyosaki

    Home Depot
    Garzella Group
    Virtual Asset Management Summit 2021

  • Exiting your W2 job to pursue a real estate career can help you achieve financial freedom, and many of you might be striving to do what today’s guest has done: get out of the corporate rat race and get into full-time multifamily real estate investing. Steven Louie worked for 25 years in the benefits and consulting industry, where he held various executive and sales leadership roles at Mercer and MetLife. He is now a Managing Partner at Vertical Street Ventures, where he is responsible for acquisitions, sourcing capital, and building key strategic partnerships, and he has grown his multifamily portfolio to over 2,500 units across Arizona, California, Florida, and Texas. In this episode, Steve shares what drove him to exit his W2 job and the five-step plan he used to do so, how he made the transition from corporate America to self-employed, and his advice for expediting the process. You’ll also learn his secret to scaling rapidly, how he found and vetted his partners, and why he values relationships above all else, so tune in today!

    Key Points From This Episode:

    Learn a bit more about Steve, his corporate background, and what he does now.How he found multifamily while looking into the many tax benefits of real estate.The driving factor for Steve to leave his W2 job was spending more time with his family.The five-step plan he used to exit his W2 job: network, hire a coach, self-educate, build a team, and take action.Having a mentor versus self-education: it depends on how much free time you have.What Steve learned while transitioning from corporate America to running his own business.Hear what he would do differently if he had to start again: become an investor sooner!Steve’s advice for expediting the process from W2 to full-time investor: do your job well and great things will happen.The secret to his rapid scaling success, starting with honing your people and sales skills.How Steve found his partners and the importance of focusing on finding the right ones.Find out how he met his brokers and the deal flow that has come from those relationships.Where Steve sees his company going in the next three to five years.The tool Steve can’t do without: a customer relationship management database.What he learned from his biggest mistake and what he needs to grow to the next level.

    Tweetables:

    “You’re chasing that corporate dream, you’re chasing money, and you sacrifice a lot of things. One of the things I did sacrifice is family. With the recent exit of corporate America, I have the freedom to work on my business as a business owner as well as spend time with the family.” — Steve Louie [0:05:29]

    “Whatever you’re doing, do your corporate job extremely well and all those skillsets will lead right into what you do from a real estate professional standpoint as well.” — Steve Louie [0:12:23]

    “A lot of people shy away from the word sales, but it’s all part of what you have to do in life. That’s a key aspect of what helped me grow my career across the board.” — Steve Louie [0:14:34]

    “Hiring great people across the board is very important. I’m a big fan of hiring the right talent.” — Steve Louie [0:22:28]

    Links Mentioned in Today’s Episode:

    Steven Louie on LinkedIn

    Steven Louie Email

    Vertical Street Ventures

    Rich Dad Poor Dad

    Rich Dad’s Cashflow Quadrant
    Garzella Group

  • Today we are joined by a special guest who has dedicated his life to being a firefighter and nurse in New York City and who has, through these roles, had a massive impact on his community. But after working 80+ hours a week, he knew that he had to make some changes to spend more time at home with his wife and three daughters. That’s when Timothy Lyons read Rich Dad Poor Dad and became interested in the opportunities in the world of real estate. After partnering on a multifamily property 13 months ago, he saw firsthand the power of real estate investing as an opportunity to create passive income and build wealth for his family. In this episode, Timothy talks to listeners about his pivot away from smaller units to bigger multifamily apartments, explaining that the former became too labor-intensive and time-consuming to be scalable. He also shares how he applies his leadership and management experience in his real estate investing career, what passive investing has taught him, and why he focuses primarily on active investing nowadays, so make sure to listen in!

    Key Points From This Episode:

    The story of how Timothy became a New York City firefighter. The unique opportunity firefighters have to do another job due to their unusual schedules. Getting his nursing degree and finding fulfillment in work that makes an impact. Timothy talks about the struggles of working 80-hour weeks. Deciding to pursue real estate investing after reading Rich Dad Poor Dad. How Timothy found his first deal and why he was immediately hooked. Why he decided to pivot away from the three-plex model to the larger multifamily space. How Timothy applies his real-world experience and leadership to real estate investing. Timothy talks about being amazed at the many benefits of passive investing. Why he decided to go the active investing route when he initially wanted more free time. Timothy shares why he is a better active investor now that he has done passive investments. The most important things for sponsors to do from a communication standpoint.

    Tweetables:

    “I think, the more that I get older, the more I want to do impact type work and, between the firehouse and the hospital type stuff, it was great.” — Timothy Lyons [0:03:17]

    “When you get your first K-1 statement and you see the passive losses versus your passive income, you can quickly see that this is an amazing opportunity to have your money work for you.” — Timothy Lyons [0:10:18]

    Links Mentioned in Today’s Episode:

    Timothy Lyons Email

    Timothy Lyons on LinkedIn

    Cityside Capital

    Rich Dad Poor Dad

    BiggerPockets

    Keith Weinhold

    Michael Blank

    Jake and Gino

    The Real Estate Guys

    APT Capital Group

    Passive Income Through Multifamily Real Estate on Facebook

    Schedule a Call with Kyle Mitchell

    Garzella Group

  • Financial advisors will tell you that playing the long game and investing in stocks is the path to financial independence. But here’s the secret that they don’t tell you — very few financial advisors ever achieve true financial independence themselves. Today we speak with Anti-Financial Advisor, Chris Miles, who teaches entrepreneurs and professionals how they can find financial independence by getting their money to work for them. We open our conversation by diving into Chris’s past as a financial advisor and how he discovered the flawed assumptions underpinning this industry. We then explore the link between cash flow and financial independence before discussing what it means to be caught in the rat race. With incredible openness, Chris shares his story of how he found financial independence before a few critical mistakes and the 2008 recession forced him back into the rat race. We touch on the lessons that he’s learned, the mindset needed to unlock your cash flow, and why adding value to people is a sound money-making strategy. Near the end of the episode, Chris unpacks common financial advice and gives listeners his top tips on expanding their financial literacy. Tune in for more insights on escaping the rat race from Chris Miles, AKA, the Cash Flow Expert.

    Key Points From This Episode:

    Introducing Chris Miles, famed “Cash Flow Expert and Anti-Financial Advisor”.Why Chris quit being a financial advisor and began investing in real estate.Getting out of the rat race and the differences between financial independence and freedom. Chris shares why he left his early retirement to help others.How Chris ended up escaping the rat race for the second time. Why doing what you love won’t always bring you money.Having a saving versus a spending mindset and the key to managing your finances. Hear how Chris grew from difficult circumstances and the importance and embracing an abundance mindset. Exploring the many flaws behind traditional financial advice.Why alternative investment strategies are the key to attaining financial independence. Tips on how you can expand your financial literacy. Teaching your children about passive income and how to think about money.

    Links Mentioned in Today’s Episode:

    Chris Miles on LinkedIn

    Chris Miles on Twitter

    Money Ripples

    The Chris Miles Money Show

    Who Took My Money

    Rich Dad, Poor Dad

    U.S News

    CNN Business

    Dave Ramsey

    The Brady Bunch

    The Lehman Brothers

    Killing Sacred Cows

    CASHFLOW Classic

    APT Capital Group

    Passive Income Through Multifamily Real Estate on Facebook

    Schedule a Call with Kyle Mitchell
    Garzella Group

  • In today’s episode, Paul Moore shares his extensive knowledge of Delaware Statutory Trusts (DSTs) and the many reasons why he believes they are beneficial to people who wish to be passive investors. Although, it is common knowledge that DSTs aren’t for everyone, so as part of the discussion today, Paul openly talks about the downsides associated with them. However, negatives aside, if you are interested in earning money without the hassle of managing the properties yourself, this episode will be a great and insightful starting point. Paul offers tips on the ways to find DSTs, the assets that are best suited to DSTs, and how to avoid going through a broker to get them. Paul is not only interested in real estate investing but also has a deep desire to alleviate suffering in the world, in particular, human trafficking. You will hear more about how he has made it his mission to create awareness around this global tragedy and how he goes about raising funds to help fight against it. This is Paul’s second time on the show and his insights are always extremely valuable and hopefully, it will not be his last!

    Key Points From This Episode:

    Paul touches on his transition to mobile home parks and self-storage. He explains the 1031 exchange and how it negatively affects many investors. The reason why Paul is a big fan of the Delaware Statutory Trust (DST).The story of the 72-year-old attorney who made Paul aware of the DST and its value.The issues with tenants in common agreements. Paul openly shares the downsides associated with DSTs. The types of assets that work best in terms of the DST. Most people go through a broker to get a DST, but Paul decided to take a different route.In addition to his own company, Paul offers other suggestions on where to find DSTs. The horrifying revenues generated from human trafficking and how Paul has done his part to combat this. How the Bonjoro tool has been very useful to Paul in his business. The failed investment story which is most painful for Paul. The way saying ‘yes’ to too many things has impacted Paul’s life and why he wants to learn to say ‘no’ more often.

    Links Mentioned in Today’s Episode:

    Wellings Capital

    How to Lose Money

    Ford Motor Company

    House Hunters

    Realized

    Kay Properties and Investments

    Nefarious

    HubSpot

    Bonjoro

    The One Thing
    Garzella Group

  • Few deals can promise the high returns that you can get from ground-up development. Today we bring in ground-up expert Shannon Robnett to discuss this asset class. With 40 years in real estate and having completed over 200 million dollars in construction projects, we open our conversation with Shannon by touching on his career highlights. After sharing why ground ups can be such valuable investments, Shannon dispels the myth that ground ups are always risky, especially when compared with multi-family risks. We chat about how having a reputable and experienced team mitigates most ground-up risks before diving into common challenges that ground ups. Reflecting on how the pandemic has led to huge population shifts, we talk about why now is one of the best times to get into ground-up. Near the end of the episode, Shannon gives listeners his insights into how he picks his projects, the importance of understanding your market, what real estate tool he can’t live without, and the main takeaways from his biggest real estate mistake. Tune in to learn more about lucrative ground-up investing.

    Key Points From This Episode:

    Introducing seasoned investor and ground-up expert, Shannon Robnett.Shannon shares details about his extensive real estate experience.What makes ground up such an excellent asset class. Comparing the multi-family risks versus ground-up risks. How you can reduce risk when making ground-up investments. Exploring the challenges that many ground-ups face.How ground-up beginners often make mistakes with their timeline. Why now is a better time than ever to get into ground-up investing.Hear Shannon’s advice on getting into ground-up.Insights into how Shannon picks his market and develops different asset classes.The importance of knowing your market when making deals.The top real estate tool that Shannon can’t live without.Shannon shares the main takeaways from his biggest investing mistake. How Shannon grows his business by picking the best possible people for the job.

    Tweetables:

    “When you’re deploying capital in a risk-mitigated situation and with an experienced group, nothing will get you a bigger return and keep your expenses in line like new construction will.” — @Robnett01 [0:03:49]

    “Where I do most of my business, we are coming unglued because of the volume of people that are moving in here at an unprecedented rate. The opportunity is everywhere” — @Robnett01 [0:13:02]

    “I don’t have to be a fortune teller. I just need to be plugged into the marketplace and know where there's a need.” — @Robnett01 [0:16:48]

    Links Mentioned in Today’s Episode:

    Top 70 Multifamily Real Estate Podcasts You Need to Follow in 2021

    Shannon Robnett on LinkedIn

    Shannon Robnett on Twitter

    Shannon Robnett Industries

    APT Capital Group

    Passive Income Through Multifamily Real Estate on Facebook

    Schedule a Call with Kyle Mitchell

    Bullpen

  • There is a lot of information out there on laws regarding credit that you can use to protect yourself. Such things as the Fair Credit Reporting Act (FCRA) or the Fair Debt Collection Practices Act, known as an FDCPA. FDCPA has to do with you, the consumer, and the creditors, while the FCRA is between the consumers and the credit bureaus. Would it surprise you to know that only about 1% of the country knows about and uses this information? Our guests on today’s episode are credit experts Robert Childs and John Roberts. Robert founded a credit repair company in 1990 and by 2012 he grew his business from just two employees to over 560 employees. In January 2012, Robert sold his company to a large bank for a seven-digit figure. Robert’s credit repair company processed over 5,000 new clients per month with revenues that reached 65 million dollars in annual sales. John has worked in the credit restoration industry since 2015 and has helped thousands of consumers with credit issues along the way. He has demonstrated excellence in the credit industry as Director of Business Development and he has also served as Chief Operations Officer for companies and both the credit restoration and debt settlement industries. Together, we have the cofounders of The Debt and Credit Guys. Stay tuned for some very insightful bits of advice from two experts in the credit arena, the do’s and the don’t’s of improving your credit score, dealing with collection agencies, and so much more!

    Key Points From This Episode:

    Robert and John share more about where they come from and what they are doing now.What is a FICO score: A three-digit negative or credit score.The difference between a FICO score and a VantageScore.Why a FICO score is important.Ways to improve your FICO score: Four ways to boost your credit quickly.How closing a credit card can damage your credit score.Other ways to add negative items on your credit score that impact your credit.How to legally remove negative items from your credit report.How to deal with collection agencies: FDCPA and how to respond.Three important things to ask if you are being called about debt.The best and worst times to settle a collection amount.Other ways to improve your credit scores.One tool they use in real estate investing that they could not do without: Credit!The importance of doing research in the real estate business.

    Links Mentioned in Today’s Episode:

    Robert Childs on LinkedIn

    The Debt and Credit Guys

    John Roberts Telephone — 949-371-8899

    The Debt and Credit Guys Podcast

    The Debt and Credit Guys on Twitter

    ATP Capital Group
    Bullpen

  • Today’s guest is a first for the PIMR podcast; Greg Junge is the only person who has been interviewed on the show who has invested in property outside of the United States. Greg joins us today to discuss how and why he and his wife Mandy, became limited partners in a resort in Belize, and the people who influenced their decision. In this case, the decision was based on the fact that it is a place they would like to revisit often, and therefore it is a lifestyle investment as much as it is a financial one. Greg doesn’t always invest in properties that he will make use of himself but he does always ensure that he completely trusts whoever he is investing with and he runs us through his vetting process in this episode. Greg also gives us insights into how the COVID-19 pandemic has affected his investments; why the pandemic has not deterred him from investing in more properties; the benefits of finding a niche in the vast world of real estate as quickly as possible and most importantly, why investing in your own personal development is a key to success.

    Key Points From This Episode:

    Greg gives us a brief rundown of his professional career. Where Greg and Mandy gained the confidence to invest in Belize. Some details about the Mahogany Bay Village development and the value Greg sees in investing there. The delays that COVID has caused.The lifestyle investment is as important to Greg as the financial investment with regard to investing internationally.Patience is key in the real estate world, especially during COVID times. Greg talks us through the qualities that he looks for when he is vetting sponsors.The three main things that Greg looks at to determine whether he is going to invest. Greg and Mandy’s decision to continue during the COVID-19 pandemic. Why finding a niche as quickly as possible is beneficial to success. The benefits of investing in your own self-development.

    Tweetables:

    “With real estate, it never happens very quickly, it’s not get-rich-quick, it’s get-wealthy-slowly.” — Greg Junge [0:09:32]

    “It’s really just patience and trusting the process and trusting the team that you vetted out.” — Greg Junge [0:10:00]

    “If I am going to write a check for a decent amount of money, I want to make sure that I trust that person who is receiving that money and that I trust them not only now, but a year from now or 10 years from now.” — Greg Junge [0:16:02]

    Links Mentioned in Today’s Episode:

    Greg Junge Email

    Seven Figure Capital

    Success Habits of Super Achievers

    Real Estate Guys

    Robert Helms

    Prosperity Aid

    Mahogany Bay Village

    Neal Bawa

    Deal Maker Live

    Michael Blank
    Bullpen

  • For over a decade, Andrew Cushman has been growing real estate investment businesses full-time. Starting off with single-family properties in the depths of the Great Recession, Andrew completed 27 single-family flips, all of which were profitable. In 2011, he transitioned to the acquisition and repositioning of multifamily properties and now acquires B-class, value-add properties throughout Texas and the Southeast United States. In total, Andrew and his team have acquired and repositioned over 2,000 multifamily units to date and, of course, each one of those units requires property management. In this episode, you will hear Andrew's experience of managing the property manager, from finding and hiring a third-party property management company to the biggest challenge he has faced in working with a property management company, and he also shares his best practices and talks about his asset management superpower. Tune in today!

    Key Points From This Episode:

    Find out a bit more about Andrew and what he doesBest practices for finding and hiring a third-party property management company.Making sure that your type of asset is what the company is best as managing.Why great property management companies are discerning about who they work with and have your best interests in mind.The biggest challenge Andrew has had with a company: managing renovations.Learn why Andrew has had to fire a property management company before.Andrew’s best practices for managing the manager, like weekly calls with everyone, including the maintenance technician.Andrew’s asset management superpower is being actively involved without micromanaging.

    Tweetables:

    “The wrong management can turn a great deal bad in no time.” — Andrew Cushman [0:03:36]

    “Do the best you can to find out if the people in the [property management] company have created a culture of integrity.” — Andrew Cushman [0:07:39]

    “Our asset management superpower is being able to partner with our third-party management in somewhat of an unusual way, to get everybody on the same team and function as if it was in-house and vertically integrated.” — Andrew Cushman [0:11:52]

    Links Mentioned in Today’s Episode:

    Andrew Cushman on LinkedIn

    Andrew Cushman on BiggerPockets

    Vantage Point Acquisitions

    The Multifamily Accelerator Mastermind

    Asset Management Mastery

    Asset Management Mastery Facebook Group
    RedIQ

  • Today’s episode is a case study that provides a detailed blow-by-blow of a multifamily deal by Founder and CEO of Sterling Rhino Capital LLC, Chris Roberts. Chris has been a full-time entrepreneur and investor since 2007. He owns and operates a sales and marketing company that, when acquired, had annual sales of 7.2 million in 2007. By 2019, Chris and his team grew that business to 24.5 million. Chris holds investments or shares in over 2,100 units across the country and recently closed on 112 unit in Georgia and 104 unit property in Virginia. In this episode, Chris shares the details from the 112 unit deal in Georgia, from how he came across the property to what stood out about it and why he describes it as a diamond in the rough. He addressed the challenges and the lessons he learned along the way, namely the importance of building rapport, putting in the hours, doing the hard work, and following the numbers! Chris also shares some of his favorite tools and what others can learn from his biggest mistake, so make sure to tune in today!

    Key Points From This Episode:

    Chris shares a bit more about himself and his business.This specific 112 unit deal and how Chris stumbled upon it via a different group.What stood out about the property, and why Chris describes it as a diamond in the rough.The biggest challenge in closing this deal were the people between Chris and the seller.Chris explains how he went about closing the deal, given the owner had no digital records.The importance of establishing relationships with owners and helping them with the process.Working with the brokers on the deal is important, but this was a unique circumstance.Negotiating a lower price – Chris explains why he asked for the discount in the first place.Going about negotiation the right way: Chris says it’s about understanding the other side.Chris explains what his ultimate business plan for this property and what they are testing now.While Chris shops everything, he is always on the lookout for off market deals.Why Chris believes that brokers are a valuable resource for finding deals.Put in the hours, do the hard work, and follow the data, your deals should pay off.The real estate investing tool Chris can’t do without is the team he has built.Chris says his biggest mistake was not taking action and building a vision plan sooner.To grow his life to the next level, Chris says he needs to work on work-life balance.

    Links Mentioned in Today’s Episode:

    Chris Roberts on LinkedIn

    Chris Roberts Email

    Chris Roberts

    Sterling Rhino Capital

    Sterling Rhino Capital on Facebook

    Sterling Rhino Capital on YouTube

    How to Win Friends and Influence People
    Bullpen

  • In today’s segment, we focus on building better systems and becoming best-in-class real estate operators. Our guests, Ed Sittler and Perry Zhang, walk us through the ins and outs of their latest deals and share insider tips along the way. We open the show by hearing about Ed and Perry’s professional history and get up to speed with their most recent CapEx development. Ed reveals some of the immediate challenges he and Perry faced, as listeners find out how the two were tasked with making a building habitable again. Perry expands on this and tells us about the different lenders and players which made their success possible. Yet, there is an important sequence to all this. One might have all the right ingredients, but if you don’t follow the recipe, failure will be your result. In light of this, Perry details his entire process, referencing each player and what their role is. Adding to this, Ed shares valuable information about how you can keep your contractors accountable and why jobs are never perfectly executed the first time around. To conclude the show, we hear the pair’s three biggest lessons from CapEx projects and why digging for detail and a big-picture mindset are their complementary asset management superpowers. To find out more, be sure to join us today!

    Key Points From This Episode:

    Introducing today’s guests, Perry Zhang and Ed Sittler.Both Ed and Perry give a small breakdown of their professional backgrounds.Ed tells us about his $1.4 million CapEx deal in Dallas.What it was like working with different lenders and players.Hear about the sequencing of their projects.How they hold their contractors accountable for the work they’re doing.Lessons they’ve learned from their CapEx projects.How to approach escrowing and LPs.What Ed and Perry’s asset management superpowers are.Important information about our podcast and where we will be moving to.

    Tweetables:

    “The first key move is to come up with a business plan. Plan the renovation ahead as much as possible.” — Perry Zhang [0:06:54]

    “Gates are super important, especially for C-class properties. You can get a lot of vagrants that you don’t want on the property.” — Ed Sittler [0:05:25]

    Links Mentioned in Today’s Episode:

    Perry Zhang on Facebook

    Ed Sittler on Facebook

    Ed Sittler email

    Lyft

    Twitter

    RedIQ
    Amazon

    Brandon Martinez

    City Gate Property Management

    Asset Management Mastery

    Passive Income Through Multifamily Real Estate Facebook Group

    Free Call with Kyle or Lalita