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Commercial Real Estate Pro Network
42 minutes | 3 days ago
Commercial Real Estate Investor Hustle with Joe Bell - CRE PN #295
Today, my guest is Joe Bell. Joe is a real estate and wealth expert coach. He's been featured as one of Alaska's 30 nines. He's top 40 under 40. And Joe Bell is an expert in helping real estate professionals build legacy, retirement and wealth. He's the founder of Legacy Beyond Listings, and the author of Assets, Acquisitions and Abundance. And in just a minute, we're going to speak with Joe about how to focus on your market, build your team, and create real wealth and freedom in your real estate business.
2 minutes | 5 days ago
BIGGEST RISK with Joe Bell
J Darrin Gross: If you're willing, I'd like to ask you, Joe Bell, what is the biggest risk? Joe Bell Yeah, well, an insurance related answers sometimes a really good step. But beyond that, right? Um, you know, the some of the biggest risk is, is when you you think you know it, all right, you get to that point where you reach the pinnacle. And as soon as you start to feel like you're there is one of the biggest opportunities to actually get swept off the mountain. I think a lot of us out there, I know myself experienced that, when COVID hit, and we lost $900,000 in investment. It quite frankly, just caught a lot of people with their pants down, myself included. And I was I was to a point where I felt like, you know, I was doing pretty well. And I knew quite a bit of of what there was to know out there. But it was a humbling moment where I had to take a step back and go, No, we're not even close. Right. So, you know, the biggest risk is to get to that point and stop learning, stop progressing, stop evolving, both as an investor and as a human. You know, so that that, to me is one of the biggest risks outside of all your general pitfalls that typical new investors run into and, you know, trying to trying to do stuff before they really know what they're doing and that sense. So yeah, for me, it probably applies to a more seasoned individual that has been around the game for a little while, but there is there's no Pinnacle. It's a continual evolution and just focusing on that.
38 minutes | 10 days ago
Eliminate Limiting Beliefs to Grow Commercial Real Estate Portfolio with Ketan Patel - CRE PN #294
Today, my guest is Keaton Patel. He is a high performance coach who helps motivated real estate entrepreneurs create more income and impact by aligning their thoughts, emotions and actions.
1 minutes | 12 days ago
BIGGEST RISK with Ketan Patel
Darrin Gross: If you're willing, I'd like to ask you, Keaton Patel, what is the BIGGEST RISK? Ketan Patel: It's a great question. So basically, for me, my business Mukhi Capital. I do underwrite deals, conservatively, a very, very conservative outlook. So for me, the biggest risk is not getting the variety of investments to my investors, I work with one or two sponsors, I really, really limit everything because I just don't see the quality deals out there in the market that meets the criteria I want them to meet. So for me, the biggest risk has been finding additional sponsors that are you know, giving a little bit more variety to the business and to to minimize it. I'm doing what I can and taking actions and changing the strategies.
42 minutes | 17 days ago
Public Adjuster or Insurance Company Adjuster with Mike Fried - CRE PN #293
Today, my guest is Mike Fried. Mike is the president of all American public adjusters licensed and appointed Insurance Claim consulting firm and Aftermath Consulting Group, a large loss consulting firm, he has extensive experience as an independent adjuster.
2 minutes | 19 days ago
BIGGEST RISK with Mike Fried
Darrin Gross: If you're willing, I'd like to ask you, Mike Fried. What is the BIGGEST RISK? Mike Fried For me and our company, its liability. We don't have the ability to make a mistake. We have to be forensic. And we have to get everything right the first time, there's really no going back to the well for us, especially if we get something wrong. So we constantly educate ourselves with certifications with continuing education really means specifically, its liability against making mistakes. And the biggest mistake we have oftentimes is communication, where either we communicate too much, or occasionally we communicate not enough. And it's hard to meet the expectations of all the clients there. But for us to avoid risk professionally, it has to come down to being mistake free. It's your claim. And you're hiring somebody and frankly getting paying them a lot of money. We don't really get the luxury of making mistakes, because it's my bond you're going to come after if I screw it up. So oftentimes, to avoid risk, we have to be thorough, we have to be very expeditious and we have to avoid mistakes while doing both of that both of those. So avoiding risk for us is as simple as avoiding liabilities. And and really it's it's with industry education, it's with communication. And we do the best we can to be mistake free. But it happens
49 minutes | 24 days ago
Raising Capital for Real Estate with Dave Dubeau - CRE PN Radio #292
Today, my guest is Dave Beau Dave is a real estate entrepreneur, best selling author, speaker and investor attraction expert based in beautiful British Columbia, Canada.
2 minutes | a month ago
BIGGEST RISK with Dave DuBeau
Darrin Gross: I'd like to ask you, Dave Dubeau, what is the biggest risk? Dave Dubeau Well, do you mind if I give you two answers? No, we will. So the biggest risk is staying stuck. That's the biggest risk, right? Just trying to sell finance your deals and not growing your portfolio because you're not going to achieve what you wanted to real estate in the first place. Okay? So beyond beyond the hoody, Flutie whoo, whoo, kind of big risks. The tangible risks, the biggest tangible risk I see with people when it comes to raising capital is crossing the line with the Securities and Exchange Commission or your your local authority. I see people making this mistake a lot. And sometimes they get away with it for a while, but eventually it catches up with them. And it can cause a whole world of hurt and expense that you don't want to go through. So the process I've walked through through here today is a very good one. And it also I also highly, highly recommend, talk to a real estate lawyer in your area, explain what you want to do, and see what do you need to have set up to do it properly, maybe you don't need anything, if you're bringing somebody on board, as not only a money partner, but actually a joint venture partner in a deal, you might not need to do anything, because they're your equity partner. And they're actively involved, not just with money, but they're actually doing something. So you might be exempt that way. But make sure that however it is that you're bringing your investor partners on board, you are compliant, and you're not crossing the line with the Securities Commission.
40 minutes | a month ago
Boise Ground Up Construction Multifamily Investor Returns with Shannon Robnett - CRE PN #291
Today my guest is Shannon Robnett. And for the last 40 years, he lived in Boise, Idaho. He's been building and developing there for over 25 years. And two years ago, he moved to Puerto Rico for tax purposes, but still has three companies in Boise. And in just a minute, we're going to speak with Shannon about the benefits of new multifamily ground up construction.
1 minutes | a month ago
BIGGEST RISK with Shannon Robnett
Darrin: Shannon, Robnett, what is the biggest risk? Shannon Robnett: I think in my business, the biggest risk is having the wrong people in the right places. You know, you talk about risk transfer. You know, I've always found that when I, when I'm looking for a property management solution, I need something that's customized to me that that is looking after my property like it's an asset. And so I could do that. And I could make that happen. And I could, I could become a pseudo property manager. But why not go find the best property manager in the valley that I've always admired and wanted to hire? And why don't I hire him and make him an offer, he can't refuse to make my mind machine run smoothly, and take that risk out of it. Now, I know that I have somebody that's tied to the bottom line that's financially responsible to me, for the well management of our assets, that's doing it in a phenomenal way. And I've done that in in several key places in my business. And I think that when you when you aren't taking care of your people, when you're not looking at the personnel you have, I think you're taking some pretty big risks. And so having great people that are in it, to win it that are part of your team, I think is the biggest way to mitigate that risk. And the biggest way to ensure that you're going to be successful is because you're partnered with the right people, you're working with the right people and you've hired the right people.
50 minutes | a month ago
How You Can Make Passive Income from Land with Brent Bowers - CREPN #290
Today, my guest is Brent Bowers. Brent was an army officer spending way too much time away from home. And he knew he needed to make some changes. And that is when he found land and the ability to create a passive income with land. And in just a minute, we're going to speak with Brent about how to build passive income through land. That gives you a life that allows you to do what you actually want to do.
4 minutes | a month ago
BIGGEST RISK with Brent Bowers
J. Darrin Gross: Brent Bowers, what is the biggest risk? Brent Bowers Yeah, I want to talk about a property we buy. It was late 2017. It was the last vacant parcel of land in a mobile home park. And it was from a lady her husband had died. And he was a builder. And he pretty much he went bankrupt. So long story short, we had to reactivate his his LLC to be able to take ownership of that piece of land. And we went through all these steps and I had a buyer already lined up for $16,000 that I found on Craigslist. So I had about $900 into reactivating this LLC back tax his lawn service fee from the city and paying the seller so the seller really only made like 200 bucks off of this parcel land. Well, when I had sold this parcel for 16 grand to another builder that was going to put a brand new modular home on that title company found out that there was $157,000 IRS tax lein on it. So I did not do my due diligence in the beginning and run, like owners and encumbrances or O & E is what we call it, or even a title search at that point, you know, I was kind of just shooting in the dark. So I was just, I was so sad because I mean 2000 beginning of 2018 at this point like that, that was life changing, like I had just had I had a brand new baby, first first child. And actually, no, that was my second child by then let me let me back up that second child. But that would have been game changer, you know, a profit of 15 grand basically. So what I did was I waited a year I cried a bunch now, continue refining my system continue buying land, but I never took that deed into my name. Like, I never took ownership of that. And this poor lady would call me and never return a call. She's like, are you ever going to record that deed? Because I'm still receiving calls from the city and blah, blah, blah, I would just ignore because I was scared. I didn't know what to do. $157,000 IRS tax lien I didn't want to take on that I was like, Man that would bankrupt us from the very beginning. So long story short, I found a title company A year later, heritage title. They said, Listen, these things sometimes fall off, let's figure it out. So they cleaned everything up. I still did not take ownership of this. But it was good to go. So like go ahead and sell it, you're good. It's dropped off. The IRS drops these things off every so many years. I don't know how it works, just called dumb luck, or God blessed me I would say it was probably God, God's blessing, which we you know, you get lucky. The more you do that, the more God bless you. Um, so long story short, I found another buyer I think this time was on Facebook marketplace or buy sell groups, but found another buyer for 35,000. So one year later this I got confidence in myself in my process. So I doubled the price basically, I also got $5,000 down, I only had 980 into the property. So I got $5,000 down and it's a 52 and a half month term at 534 a month so I'm still getting $534 a month and I will be for another I think two two years two and a half years on this property but that's the biggest risk not checking the chain of title making sure that if J Darrin Gross leaves this property to Brent Bowers and you leave out Jay we just broke the chain of title so that's that's one risk and two is doing your background your due diligence and your title search and making sure there's no IRS tax liens or encumbrances or city liens. You name it. So there's my risk story.
43 minutes | 2 months ago
Investing in Midwest Mobile Home Parks with Jonathan Tuttle - CRE PN #289
Today, my guest is Jonathan Tuttle. Jonathan is the principal at Midwest Park capital, a mobile home park fund. And in just a minute, we're going to speak with Jonathan about trends and opportunities going forward in 2021 and beyond, in commercial real estate.
36 minutes | 2 months ago
Senior Living Multifamily with Vinney Chopra - CRE PN #288
Today, my guest is returning guest Vinney Chopra. Vinney is a real estate investor. He's a syndicator. He's an author. He's gone full cycle on multiple syndications. And in just a few minutes, we're going to talk to him about the new venture he's invested in, which is the senior multifamily living and why Senior Living multifamily is so essential.
2 minutes | a year ago
BIGGEST RISK with Vinney Chopra
Wow, I'm so glad you shared that because I settled three lawsuits. You know, just in the last quarter of 2019. So it's very fresh in my mind. And actually, one lawsuit was going on for about two and a half years. Nothing major, but it was major in the sense that something happened with one of my contractors on one of my property. And I'm so glad that I have had full coverage, you know. And they said you settle the issue for almost like seven hundred some thousand dollars. And I didn't have to pay a penny. Another thing, you know, Darrin, my fire happened, you know. Right there in Atlanta property and that was a fire. I had a twenty thousand dollar deductible only, and that settled for two point three million dollars just to let you all know. But it was only possible because of people like Darrin, you know, who were able to sit down with me and make sure that we get the proper insurance. I got hacked also in 2017 lost $250,000. And guess what? I did not have the Cyber Insurance. And that got me hurt. And, you know, I never looked back. I always look forward and say, what can I do today to make myself better? And that's OK. But now I'm fully taken care of by my I.T., Cyber Security and Insurance and everything. So the key thing is I think insurance plays a very important role. I had another lawsuit with the, you know, firing somebody and they said it's racial discrimination firing. So these are very important issues. You've got to make sure you've got great attorneys, first of all, who are with you, dealing with you, looking at your contracts and everything. I'm very happy to say I didn't have to pay much again. You know, it could have been millions of dollars of lawsuit. But by hiring the right people and having the right insurance companies and all that, it helps a lot.
35 minutes | 2 months ago
On Demand Affordable Legal Counsel with Johnny Merritt - CRE PN # 287
Today, my guest is Johnny Merritt. Johnny is an equity partner of Hajjar Peters LLP. He's an attorney with over three decades of experience in complex corporate and real estate matters. And in just a minute, we're gonna speak with Johnny about how a on demand fractional General Counsel relationship can work for you.
3 minutes | 2 months ago
BIGGEST RISK with Johnny Merritt
J. Darrin Gross: Johnny Merritt, what is the biggest risk? Johnny Merritt Very sincerely in this comes from my relationship with this $1.52 billion company that I've represented for over two decades. I think the greatest risk of business has is not having a good relationship with an insurance person. There are a couple of, as general counsel, what what you what you've learn to do, is you, your're a generalist. You provide those services that the the business typically would need. You review contracts, you you attend board meetings to you. You look at real estate transactions. But then then you get calls on for instance, intellectual property. But that's when you call them the expert. They're all there are a handful of people that I that I rely heavily upon. One is accountants. And you need to be able to call your accountant. Another one again, for my clients, I have a great IP attorney and intellectual property attorney. But I also have a an insurance broker, that, frankly, I am in constant contact with. Weekly is probably an exaggeration, but it's over four times a month, it is I believe strongly that that you that every business needs to have a relationship with somebody who understands can they can recall and rely upon. And in frankly, this comes from experience, we represented an entity that did not have enough insurance. And in it, we found ourselves with a substantial liability, they had not allocated the kind of using your formula did not evaluate the risk properly. They had not and then they had not allocated or taken care of. So I it sounds like it's so self serving in your favor. But it's just the truth is is having just like having a great attorney, and having a great accountant. You need to have a great insurance person who you trust to who you understand is not just out to sell insurance, but is there to help you protect and minimize your risks.
41 minutes | 2 months ago
1031 Exchange Sell - Defer Tax - Reinvest with Dave Foster - CRE PN #286
Today, my guest is Dave Foster. Dave is the founder and CEO of The 1031 Investor. Dave is a degreed accountant and serial real estate investor, who is a Qualified Intermediary and consultant for tax saving strategies such as the 1031 exchange, and the section 121. Homestead Exemption.
2 minutes | 2 months ago
BIGGEST RISK with Dave Foster
Darrin Gross: Dave Foster, I'd like to ask you, what is the biggest risk? Dave Foster: What a great question. You know, I like to think of risk as having been a coin that has two sides. And on one side, I think the greatest risk in both my life. And in my investors, life has been the risk of inaction. We want we had a goal of moving on to a sailboat and living and living out here raising our boys. And oh my gosh, that was the greatest period of our lives. But boy did we have to overcome a lot of naysayers, and a lot of fear, to take that risk. But the risk of inaction had far greater consequences than the risk of actually doing it. And that's something that Mark Twain actually said it 20 years from now, the things that you regret are not going to be the things that you did, they're going to be the things that you didn't do. So I see that risk of inaction has been huge. But the other side of that coin, is that with the 1031 exchange, and with what to build wealth, the greatest risk you've got is not exercising patience, and let your money work for you. Everybody talks about passive income, but passive income doesn't happen overnight. It happens in stages over time. That's my coin of risk.
45 minutes | 2 months ago
Cash Flow Investments Make Financial Freedom with Chris Miles - CRE PN #285
Today, my guest is Chris Miles. Chris is the cash flow expert and anti financial advisor and is a leading authority teaching entrepreneurs and professionals how to get their money working for them today. He's an author, podcaster podcast host of the Chris Miles Money Show. He's been featured in US News, CNN Money, EO Fire and has a proven reputation with his company Money Ripples for getting his clients fast life altering financial results. In fact, his personal clients have increased their cash flow by over 200 million in the last 10 years. And in just a minute, we're going to speak with Chris about how to create an Anti Financial Plan.
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