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The Real Estate Way to Wealth and Freedom
40 minutes | 6 days ago
Real Estate Updates with Marco Santarelli
Marco Santarelli returns to the show for a second appearance. Marco is a licensed real estate broker in California, an investor, author, serial entrepreneur with multiple businesses, founder and CEO of Norada Real Estate Investments, a nationwide provider of turnkey rental properties that helping people build their real estate portfolio by providing knowledge, tools, and resources to achieve financial freedom and build wealth.He is the creator of DealGrader™, a scoring system that measures the investment quality of a real estate investment, giving you an overall snapshot of its profitability and investment risk. Likewise, he is hosting the Passive Real Estate Investing podcast, the show where busy people learn how to build substantial passive income while creating wealth for the long-term.KEY POINTSThe Importance of Staying Market AgnosticHow to Pick the Best MarketSuburbs versus Urban Core marketsSupply, Demand, and Balance in Housing MarketsIs it a Good Time to Invest in Real Estate During this CrisisShadow Demand vs. Shadow InventoryTips for First-time InvestorsHow to Identify the Ideal Neighborhoods within the Best MarketsYour Core Five Team PlayersWhy Marco likes Single-Family Homes RESOURCESVisit Audible for a free trial and free audiobook download!The Passive Real Estate Investing Podcast with Marco SantarelliNorada Real Estate Investments
49 minutes | 16 days ago
Outsourcing to Scale with Charles Carillo
Charles Carillo is an entrepreneur, real estate investor, and managing partner of Harborside Partners, a real estate syndication firm where he owns over 250 multifamily units. He hosts a real estate investing podcast called Global Investors Podcast, which focuses on interviewing professional and international investors interested in investing in the U.S. Charles grew up in a real estate family where his dad owned apartments. Later, he started his own journey of investing in multifamily in 2006 with a 3 unit. He eventually grew it into multifamily properties and built his portfolio.KEY POINTSSelf-Management versus Third-Party ManagementPerfect Blueprint for Scaling PropertiesThe Mindset Shift of Bringing Equity PartnersThe Traits to look for in a Business PartnerWhy Traditional Value-Add is Not Wise during this PandemicThe Power of Networking LIGHTNING QUESTIONS1. What was your biggest hurdle getting started in real estate investing, and how did you overcome it?Taking the leap initially and raising the money. Overcome it by following up with successful people, and attending conferences and events to build networks.2. Do you have a personal habit that contributes to your success?Time-blocking using Google Calendar3. Do you have an online resource that you find valuable?Calendar Balance Source4. What book would you recommend to the listeners and why?The 80/20 book by Richard KochArt of the Deal book by Donald Trump5. If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?Live more strategic and figure out what you want exactly your 5, 10, and 15 years goals to be, and figure out what you can do daily, weekly, and monthly to achieve them. RESOURCESHarborside PartnersWebsiteSchedule Charles
11 minutes | 16 days ago
Market Metrics - Friday Fundamentals
In our world today we’re seeing a shift in the way people work, commute, live, and much more. With these new trends, we’re seeing people move around the country, less tied to where they once were with many more people working from home than were just 8 months ago. Consequently, this has created new supply and demand imbalances in different markets. Once hot San Francisco has seen an exodus of white-collar tech workers leaving the city for lower cost of living locations. Where people once lived near downtown and large cities, they can now move to more rural locations. These are just a couple examples of shifts we’ve seen over the past 6 months. We talked about some of these trends a couple of weeks ago and then followed that up with how to qualify deals in new markets. Let’s look at some metrics in analyzing markets for real estate investing. By now you’ve heard the saying “the 3 most important factors in real estate are location, location, location”, which I largely agree with. In the world of real estate investing, the location of a property can be described by its market and submarket. A market can be thought of as a city or town, and the submarket as a specific part or neighborhood of that city. CBRE publishes several different commercial real estate reports, in those they categorize markets into 3 tiers.Tier 1 San FranciscoSan DiegoSeattle ChicagoMiamiNew York CityTier 2Dallas / Ft. WorthHoustonDenver AtlantaOrlandoPhiladelphiaTier 3 Oklahoma CityJacksonvilleCharlotteClevelandKansas CityNashvilleSo what makes a market better or worse than another? Sports teams, great parks, no traffic, cool coffee shops? Well, close but not quite. Evaluating markets as a real estate investor, we’re concerned with two main metrics – jobs and population. That’s what it all comes down to. Are there people who live in the market and have a job that allows them to pay rent? That’s what we’re focused on. These two metrics – job growth and population grown – are indicators of a strong market. While we can never predict the future (i.e. – COVID-19), we can look at historical trends and project those into the future. Generally speaking, jobs bring people. After all, you don’t see a booming population in Antarctica. Knowing this, we can sometimes gauge population growth in a market by looking at what jobs are expected to grow or relocate to the market. Oftentimes, employers will announce new locations, headquarters, etc. and we can use this to assess the increased population those jobs will bring to the market. Now digging a bit deeper and understanding that we want people and jobs in a market, we can next look at employment rates. Employment rates are simply a percentage of people employed or unemployed. Our nation’s unemployment rate is generally in the single-digit percentages, although that number spiked to double digits during the initial phase of COVID-19. Now I want to bring something up here. There really is no such thing as one housing market or a national housing market. The same thing applies to these metrics. There isn’t one unemployment metric. Rather these metrics broken down by markets, or states at the very least are what we should be concerned with, more on a micro-scale. Just because the U.S. unemployment rate may be 7%, doesn’t mean that’s what it is in your specific market. It may be lower (great) or high (uh oh). The Bureau of Labor Statistics reports unemployment rates and breaks this data down by markets, or Metropolitan Statistic Areas (MSAs). A good example of an MSA is Dallas/Ft. Worth and principal cities that include Arlington, Plano, Garland, Irving, McKinney, Frisco, and others. DFW MSA makes up a single MSA of nearly 8 million peopleGetting back to the unemployment rate. This number is manipulated in many ways (after all, the government reports it, so that shouldn’t be a surprise). Ken McElroy, an experienced real estate investor, recently did a YouTube video explaining the different ways unemployment rates are measured. That video is linked in the show notes if you want to check it out – I recommend it! Lastly is the supply and demand. Remember our San Francisco example where we’re seeing an out-migration. Supply and demand is an important factor in looking at markets. If there are a low supply and high demand, then prices are driven upwards. If there is a high supply and low demand, then prices are driven downwards. WeAreApartments.org is a great resource for high-level supply & demand data. They indicate that the country needs to build 328,000 new apartment homes each year until 2030 to meet demand. You can drill down on their website to a specific market and look at the supply and demand. Looking at Oklahoma City, for example, they indicate that nearly 1,000 new apartments are needed annually to keep up with demand. You can pair that demand with supply data from the US Census Bureau’s Building Permits Survey to determine how many new apartments are predicted to be built, and see if this supply is being outpaced or is outpacing the demand. So that’s a summary of what metrics are important in analyzing a new market. Learn more about each of these metrics and how you can use them to make better investment decisions. Be data-driven in your approach to real estate investing. Peel back the layers of the numbers and really understand what’s going on in your markets and others. I’ll end by mentioning that our nation is, and has been, facing an affordable housing crisis. Sure, across the nation we’re continuing to build new apartments and new homes, but these are largely unaffordable to the blue-collar workforce that drives our country. This is a market that continues to be underserved, and it’s an area where I’m focusing my efforts. That is workforce housing in the heartland of our nation. Housing for the median wage earner that is clean, safe, and affordable. If you want to learn more about where I’m investing, what types of properties I’m investing in, and connect further, you can learn more at AyersAcquisitions.com
9 minutes | 23 days ago
Qualify a Deal - Friday Fundamentals
There is a lot of real estate. Like, a whole lot. Practically everything you see is either real estate, or is on or in real estate. If you’re driving down the road, running in a park, or cleaning your garage as you listen to this podcast, chances are you are surrounded by real estate. When you start to see everything as real estate, you then start to look at that real estate from an investment perspective. There are a lot of ways to invest in real estate, as shown with the different guests we have here on the podcast. From buy and hold single-family investing, to house hacking small multifamily, to apartment syndication, there are different niches and investment strategies. Starting out, most people are successful by being as narrow focused as possible, meaning they select one real estate niche and focus solely on it. If you don’t focus on one niche, you’ll find yourself looking at raw land in South Texas, Condo’s in San Diego, and new development multifamily in Virginia. Which brings us to the next point – the market. Just as it’s important to narrow down your niche, it’s also equally, if not more important, to narrow down on a few markets. These two criteria – niche and market – will help you develop an investing strategy. So, by now you’ve committed considerable time and resources in your own education. Now it’s time to start finding deals. Let’s look a how to qualify a deal in three steps. Setting your investment criteria. Now that you have a niche and market, you can begin to develop your investment criteria even further. Let’s take multifamily apartments in Texas and Oklahoma for example. This is our niche and markets. This is still relatively broad, and can be defined more. We need to consider things like: Size of the propertyMarkets and submarkets Property typeProperty ageHow you find and buy the deal (direct to owner or through brokers)ReturnsOnce these criteria are defined, we now have a specific set of criteria that we can filter all deals through. If the property doesn’t fit these criteria, then think long and hard about pursuing it. Just because something looks like a deal, doesn’t mean it’s a deal for you. Underwrite the deal. Once you have a deal that fits your investment criteria, it’s time to analyze the numbers further. This process is called underwriting and is an iterative process. You’ll look at the property’s past performance, project it’s future performance, and model out your business plan. During you’re underwriting you’ll be making assumptions and modelling different scenarios. Having some sort of underwriting tool is a must. Most people use excel or google sheets spreadsheets. You can build you own, or find one from someone who has already built one. Either way, an underwriting tool is a must. Due Diligence. Due Diligence is the process of confirming all the details of the deal, from your underwriting assumptions to property inspections and anything specific to the deal you’re qualifying. During due diligence you’ll dive into all the minute details of the deal, making sure once last time that you understand everything there is to know about the deal. You’ll confirm things like: Rent comparisonsSales comparisonsRenovation Scopes or Work Property inspectionsLease auditsExpense detailsQuotes from vendors and contractorsMuch more From those early days and all that investment into yourself to the final phases of due diligence on your investment deal, you have gone from 0 to real estate investor! Congrats! Crossing the finish line and closing the deal is a huge milestone. It’s the end of one chapter and the start of the next! Do this repeatedly and consistently and you’ll be well on your way to building wealth and achieving financial freedom. This is a journey, so enjoy the process. It won’t happen overnight, and it will take a lot of work and effort. But remember, if it were easy then everyone would do it and the rewards wouldn’t be quite as nice.
39 minutes | a month ago
Remote Real Estate with Brandon Barnes
BRANDON BARNES Brandon Barnes is a real estate investor and owner of REI Live! Atlanta, a monthly meetup group. After being fired from his job as a production supervisor, he made an immediate pivot and chose to become a real estate investor focusing on wholesaling. Faced with a choice to either get another job and spend years trapped in a cubicle or work toward becoming a successful entrepreneur, he chose to keep his eyes on the prize as an entrepreneur. He quickly scaled his real estate company within 1 year and then got fired, but this time was different. He fired himself. This gave Brandon the flexibility to focus on building the business and leading his team. His team now operates his company successfully without his day-to-day involvement.In his free time, Brandon spends his time with his wife and four kids. He is passionate about sharing his expertise and coaching students to take action and make money in real estate with his Send More Offers Coaching Program.KEY POINTSHow real estate wholesaling works and why it's appealingLeveraging the power and ability of a teamWorking on the business, not in the business How to build a remote and automated business modelHow to maintain and build rapport with prospective sellers & buyers without meeting them personallyHow can a wholesaler best work with an investor and vice-versa Common mistakes and struggles in real estate investingHow many leads, offers, and follow-ups it typically takes to get a dealMethods for finding off-market propertiesHow to build a virtual and remote team3 C’s of success in business LIGHTNING QUESTIONS1. What was your biggest hurdle getting started in real estate investing, and how did you overcome it?Financial constraints but consistency found his niche within a niche.2. Do you have a personal habit that contributes to your success?Reading books like E-Myth by Michael E. Gerber, Traction by Gabriel Weinberg, and Justin Mares, and Profit First by Mike Michalowicz3. Do you have an online resource that you find valuable?SlackZillowDocuSign4. What book would you recommend to the listeners and why?The One Thing by Gary Keller5. If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?Network earlier.RESOURCESVisit Audible for a free trial and free audiobook download! SendMoreOffers.comConnect with Brandon on Social MediaFacebookInstagramYouTube
10 minutes | a month ago
Long Distance Investing - Friday Fundamentals
Our world is rapidly changing. It’s uncommon that we would see megatrends unfold so quickly, like we’re seeing today – social distancing, remote working environments, etc. But something interesting is happening due to this new normal – people are still living their lives, the world is still turning, and we’ve figured out how to adapt to these new trends. Who knows if these will be permanent or how long they’ll last, but one thing I predict is there will be lasting impacts, mostly good I’ll add, that will affect each and every one of us. Some of these trends that macroeconomists and others predict include things like:The rise of telemedicine Remote work environments becoming permanentDe-urbanization of large cities More focus on space and social distancingWith these trends impacting our entire world, it’s important to have a forward thinking perspective as a real estate investor and make sure we’re keeping up with these trends. Now maybe you once invested primarily in the market you live in. Chances are though, either you or your residents have the opportunity to move to a new location, a new city, or even a new state. This may be a huge disruption to your real estate investing business, or just a minor hurdle you have to overcome. Let’s look at 5 tips for long distance investing. Systems and Processes – these will help you automate your business and bring some structure to the way you do things. Systems are the things that help you – software, tools, online resources etc. Processes are the things you do, the way do them, and the order in which you do them, often with the help of systems. Here’s an example of a way I use systems and processes in my business. Let’s look at how I screen new residents. The systems that help me most is the online screening and application software called Cozy.co. This software allows me to advertise my available rental units, collect rental applications, and screen prospective residents. That’s the system. The process looks more like creating a profile for each of my rental properties, uploading lease documents, applications, etc., and activating the listing when I have upcoming availability. People – real estate is a people and relationship business. While much of the processes of managing a rental property can be done virtually, you still need to have a solid team of people to help you. Relationships with property managers, contractors, realtors, attorneys, accountants, and others are key. With the right people in place, you can outsource tasks to the people who are best and most efficient at carrying them out. The best part is you don’t have to have these people full-time, on staff sitting in an office. In today’s day and age, you can simply hire these team members on a contract basis, using their services when you need them.Local knowledge – Data is great, but nothing beats local knowledge sometimes. You can research online all the data you want – migration trends, job growth, etc. Sometimes you just can’t beat local knowledge. Every market has its quirks and nuances. Having local knowledge will help you make better decisions. Whether this is knowledge you already have, or knowledge you may have to leverage from local relationships, it’s important to understand the details of the market you’re investing in. Ability to hire property management – you really should be able to outsource possibly the most important role on your team, property management. Without a property manager, you’ll be self-managing and will eventually be the bottleneck in your own process. Whether you self-manage or use third party management now, make sure you have the ability to outsource this role if/when the time comes. Pick the right market for the right reasons – you’ve heard the 3 most important things about real estate are location, location, location. This is because you can change quite a bit about your real estate. You can fix it up, paint it, change it’s use entirely, but you cannot easily change it’s location. If you are no longer tied to investing in the market you live in, then you have practically limitless possibilities for a new investment market. Look for a market with population growth, job growth, and increasing demand. As a real estate investor, it’s important to stay up to date with trends. A few resources I look to include: Emerging Trends in Real Estate published by PWC and ULIBPInsights by BiggerPocketsWeAreApartments.orgNational Multifamily Housing Council (NMHC)’s Research and InsightsLong Distance Real Estate Investing book by David GreenI hope these give you a good starting point to learn more and continue to educate yourself on the subject of long distance investing. Location independence is something we value here on the show. Having the ability to live where you want and invest where the numbers make sense will allow you to more easily live the life you want.
9 minutes | a month ago
Negotiating - Friday Fundamentals
Every day you are pitching, selling, and negotiating. While you may not realize it, you are constantly vying to communicate a point to someone else, present yourself in a certain way, and so much more. Just the simple act of communication in your day to day life is a form of pitching and selling. You communicate your thoughts to others in the form of a conversation (or podcast episode in this very moment), using words to express your thoughts and feelings to someone else. Communication, defined, is to share or exchange information, news, or ideas.From your direct actions to your subconscious thoughts, you are constantly maneuvering so that you can affect the way you are perceived and influence others how you want. This isn't a bad thing; we all do it. From political speeches to casual conversations with friends, the words we use are meant to communicate our points and shape others' thoughts.There are also nonverbal ways we pitch, sell, and negotiate. How you dress, your body language, your actions, how you listen, among many other factors, are ways you relay nonverbal cues to others.You may be thinking, I don't have anything to pitch, sell, or negotiate. You might nor be in sales, or be a high profile defense attorney, but none the less you pitch, sell, and negotiate your biggest asset every single day. That is yourself. At work or in a professional setting, you probably dress professionally, speak more properly, and act in a certain manner respective to your location. Let's take that high profile defense attorney for an example. You wouldn't expect him or her to walk in the courtroom to present the closing argument in a sports jersey with flip flops and sunglasses, right? You would especially hope not if you're the defendant being represented! But why not? Perhaps the attorney is well prepared and has a solid defense put together. The reason is the attorney is selling him or herself as someone with status who is knowledgable, respected, and takes their responsibility seriously. They're selling themself first before they even pitch and negotiate to the jury the case at hand.Beyond your everyday casual interactions with others, there are many other scenarios when you need to pitch, negotiate, and sell. From negotiating a raise at your job to making offers on investment properties, you must know how to frame conversations, listen to and guide the other person's thoughts and actions to create the outcomes you want.Pitching, selling, and negotiating are subjects that have been researched, studied, and written about in-depth for many years. I've found a few books and resources particularly valuable. They are:Pitch Anything by Oren KlafNever Split the Difference by Chris VossSell or Be Sold by Grant CardoneYou have something that others want and need, whether that's a bit of information that you know that someone else doesn't, or something you have learned from your experience, simply some words of encouragement, a solution you can provide for someone else, or a number of other things. It's up to you to be able to present those ideas, frame them in a way that you can easily communicate them, and ultimately persuade someone to take action. That's exactly what I am doing here. By interviewing guests every week to providing little nuggets of information on Friday Fundamentals, I hope to provide the knowledge and motivation for you to achieve financial freedom, build the life you want, and help others do the same. Someone somewhere wants and needs what you have. It's up to you to find who, where, and how to provide that value."You either promote what you've got, or you're demoting it." - Robert Martinez, Guest on Episode 252.
44 minutes | a month ago
Action and Accountability with Connor O’Brien
Connor O'Brien is a real estate investor, engineer, and house hacking professional. After graduating college, Connor moved to Chicago where he got his start in real estate with a duplex house hack using an FHA 203K loan. Connor has gone on to invest in small multifamily properties in Illinois and Indiana.Key PointsAccountabilityHouse hackingFHA 203K loansFinding opportunities in problemsScaling to small multifamily propertiesLIGHTNING QUESTIONS1. What was your biggest hurdle getting started in real estate investing, and how did you overcome it?The money piece. Through accountability groups, Connor learned and gained the confidence to overcome that limiting belief.2. Do you have a personal habit that contributes to your success?Connor attributes much of his success to accountability groups.3. Do you have an online resource that you find valuable?Stessa - online property management tool and accounting software4. What book would you recommend to the listeners and why?The Checklist Manifesto by Atul Gawande5. If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?Be a part of an accountability group.RESOURCESConnect with Connor on BiggerPocketsVisit Audible for a free trial and free audiobook download!
52 minutes | 2 months ago
Out of State Investing with Lauren Hardy
Lauren Hardy is a real estate investor with a “People First” approach to business. Investing in hundreds of properties in her career, Lauren has the unique reputation of being a successful “virtual investor” having not lived in many of the states she’s invested in. Lauren has been able to persevere in extremely competitive markets by constantly following the market changes and being flexible and willing to move market territories when needed. She currently lives in Southern California with her two daughters but invests in properties all over the country.KEY POINTSOut of State Virtual Investing How to find the right market to invest in out of stateCommon mistakes in choosing a marketThe Rent to Price Ratio IndicatorThe Hurdles of Investing Out of StateThe 4 Quadrants of the Real Estate Cycle LIGHTNING QUESTIONS1. What was your biggest hurdle getting started in real estate investing, and how did you overcome it?FEAR and overcome it by making herself COMFORTABLE.2. Do you have a personal habit that contributes to your success?Eat clean and healthy, get good sleep, waking up early, exercise, reading personal development and business books, and listening to podcasts.3. Do you have an online resource that you find valuable?Podcasts4. What book would you recommend to the listeners and why?The Compound Effect book by Darren Hardy5. If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?Don’t worry and take more risks. Just go and try stuff.RESOURCESVisit Audible for a free trial and free audiobook download! Bruce Norris QuadrantsVirtual Investing MasteryYouTubeInstagram @ thismomflips
13 minutes | 2 months ago
Write Your Own Story – Friday Fundamentals
Do you remember when you were a kid what you wanted to be when you grew up? For me, first I wanted to be a truck driver. Then it was a bull rider – I wore boots, jeans, and a cowboy hat to pre-school, kindergarten, and throughout elementary school. I held my own real-life rodeos with the help of my dog. Then it was an astronaut. I had a poster of Neil Armstrong, Buzz Aldrin, and Michael Collins from the 1969 Apollo 11 space flight and the moon landing. I also wanted to be a veterinarian, an anesthesiologist, and the President of the United States just to name a few more. Luckily, my parents, like so many others, encouraged me to do and be whatever I wanted.When we are young we are encouraged to explore, learn new things, and be creative. But eventually, that freedom fades as we grow older. Eventually, we’re expected to bear the normal responsibilities of working a steady job, traditional retirement planning, raising a family, and so on. We quit encouraging people to explore and learn new things way too early in life. At 18 years old you’re expected to know what you want to do for a career when just 2 years ago you couldn’t even drive yourself to a job. Before we know it, we’re slapped with the responsibilities of life, and all that room for being creative quickly disappears.“Adults are always asking kids what they want to be when they grow up because they are looking for ideas.” – Paula PoundstoneYou can live your life however you want. Anything you can imagine is possible. You must first imagine that. This is your vision. Your vision is the big picture. It’s the framework for goals and actions. You vision outlines who you want to be, how you want to live your life, and what values you have. Your vision will be your reasons why you wake up every day and pursue your goals. Your vision is what you strive for.The more specific you can make your vision, the better. A vision to simply “be wealthy” or “be happy” isn’t enough. Be specific. Use emotionally charged language about how you will feel. Most importantly, write it down. It’s ok if you don’t know exactly what your vision is just yet. Writing it down will help you turn your thoughts into words, and then turn those words into actions. Your vision will probably change over time too. Think big with your vision. Remember, people, overestimate what they can do in a year, and underestimate what they can do in a decade. Look at New Year’s resolutions for example. People set lofty goals only to give up by the time February rolls around.A lot can change in 5 years, 10 years, and so on. 5 years doesn’t seem like that long of a time, right? But think back 5 years ago to a point in your life. Look at how much has changed for you since then. I’m sure you’ve grown, learned and experienced new things, and are capable of more now. Your interests, hobbies, priorities, and responsibilities have probably changed some too.One thing is certain: whether you changed (for the better or worse) or not, those 5 years have passed. And the next 5 years will pass.“It is the set of the sails, not the direction of the wind that determines which way we will go.” – Jim RohnYou owe it to not only yourself but to the other people in your life, to be the best version of you. That’s all – just be the best person you can be. Anything less is wasting your potential, and well, there isn’t anything more you can do.Living IntentionallyYour vision serves as a purpose for you to live intentionally. Living intentionally means you make conscious decisions to living your life how you want. As we all know, it can be easy to get caught up in everyday life, being reactive to the things that come our way. If life is a pinball machine, you can either be the pinball being bounced around, or you can be the paddles. Which do you want to be?If you don’t know EXACTLY who you want to be and what you want to be doing in 5 years, you’re already doing it.” – Tom BilyeuWho will you be in 5 years? What will you be doing? The answer should align with your vision. Let’s look at how you can create your vision, and then build some goals to achieve that vision.Step 1. Create your vision. Ask yourself these 4 questions:Who do you want to spend your time with?How do you want to live your life?Who do you want to help?How will you feel when you are living out that vision?Step 2. Set 10X goals. This exercise comes from The 10X Rule by Grant Cardone. Set goals 10X more than you think you can achieve. Remember, you probably underestimate what you can do in a decade, so shoot for the stars.Step 3. Break those 10X goals into 10-year, 5-year, 3-year, and 1-year goals. I know, this sounds like a lot. But you’re really just creating stepping stones to achieve those 10X goals. These intermediate to long term goals help keep you accountable to yourself.Step 4. Break your 1-year goals down into 12-week goals. Remember, we can’t leave ourselves to 1-year goals. Remember how successful we tend to be with New Year’s resolutions? Me too. That’s why we need a more frequent reminder of our progress. This 12-week goal is inspired and created by Brian Moran in his book, The Twelve Week Year. Brian outlines some compelling reasons why breaking down goals and actions into 12 weeks periods produces better results than operating on a 12 month year. 12 weeks allows you enough time to accomplish large goals, but it is compressed so as not to give you time to procrastinate. Let’s look at an example. Let’s say your goal is to lose 20 lbs. If your goal is to lose 20 lbs this year, starting January 1st, you know that you have 12 months to accomplish this. You can have that cheeseburger and milkshake in February, knowing you have 10 more months to recover and get back on track. But rather, if your goal is to lose 20 lbs. in 12 weeks, that’s a little more than 1.5 lbs per week you have to lose. No room for milkshakes there. But Brian goes even further with the 12 week year to outline weekly action plans. You track your leading and lagging measures to understand how you are tracking and then project your results. This is a hyperfocused approach to achieving your goals.Backing up to our 30,000 ft. view and reviewing our 10X goals – let’s look at something. Let’s say one of your 10X goals is to earn $1M per year in passive and/or business income 10 years from now. Without intermediate and short term goals, you could easily procrastinate that goal this entire year, making no progress towards it. But that’s ok, you still have 9 years left, which seems like forever away, right? Wrong. If you’re not taking steps every day to get you towards that goal, then how do you expect to accomplish such a large feat?To summarize these steps – start with your vision. This anchors your goals. Then set 10X goals, and break those down into 10, 5, 3, 1, and 12 week goals. Tailor this approach how you want. Maybe you only make 10, 5, and 1-year goals. It’s up to you. The more specific you get, the more specific you can plan.Life The Life You WantYou can choose to either live the life you want and create for yourself or live the life someone else creates for you. Your vision, reasons why, and goals are simply the tools you use to create that life. Your ideal life won’t happen accidentally. You’ll have to create it.“If you can dream it, you can do it.” – Walt DisneySo what do you want to accomplish in your life? What legacy do you want to leave behind? What do you want to think about when you’re old and reflecting on all the things you did and didn’t do in life?Spend some time thinking about these things. You’ll come up with all sorts of ideas, thoughts, feelings, and you can use these to help start building a life you want now. No matter who you are, where you’re at in life, or what you have or haven’t accomplished so far, you are capable of creating any life you want. All you have to do is figure out what that is and do it.ResourcesVisit Audible for a free trial and free audiobook download!The 10X Rule by Grant CardoneThe Twelve Week Year by Brian MoranThe Intention Journal by Brandon Tuner
53 minutes | 2 months ago
The Black Sheep Mindset with Mario Mazsamuto
Mario Mazzamuto is an apartment syndicator, appraiser, a full-time real estate investor, a house flipper, Certified High-Performance Coach, a builder, speaker, best-selling author of the book "The Road to Success" with co-author Jack Canfield (Chicken Soup for the Soul), and CEO at Black Sheep Real Estate Experts, LLC. He is a black sheep that bootstrapped both his education and career.Although he was kicked out of high school multiple times, this didn’t hamper him to achieve success in life. Mario keeps on learning through experience. He was 14 when first working full time, and fell in love with it. He is a true definition of a word ‘workaholic’ who loves grinding every day. He has been in a real estate appraisal company for 18 years now, flipping business for almost 11 years, and running construction as well. As a certified life coach Mario is very particular with his physical and mental health while achieving his goals and vision in life. KEY POINTSMindset behind both making and losing moneyCreative ways to invest in real estate with no moneyThe power of partnerships Why networking is important to your successYour health is more important than any investing strategy Tips to create a well-balanced lifeHow to win battles against your negative thoughtsLIGHTNING QUESTIONS1. What was your biggest hurdle getting started in real estate investing, and how did you overcome it? Getting started and overcoming it by just taking action.2. Do you have a personal habit that contributes to your success?Forcing myself to look at the glass half full.3. Do you have an online resource that you find valuable?Jocko Willink’s Instagram4. What book would you recommend to the listeners and why?Awaken The Giant Within book by Tony Robbins5. If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?Don’t take it all so seriously. Just start small, start somewhere, and take that action. If you lose money, you’ll survive so don’t worry about it.RESOURCESVisit Audible for a free trial and free audiobook download! GoBundancePaul Stamets Mycelium GeniusTribe of Millionaires book by David Osborn, Mike McCarthy, Pat Hiban, Tim Rhode, Hal ElrodMario’s WebsiteLinkedIn
8 minutes | 2 months ago
Mitigate Your Risks - Friday Fundamentals
Hedge Your RiskRisk, by definition, is the possibility that something bad or unpleasant will happen. We take risks, avoid them, mitigate them, and are surrounded by them at all times. From getting in our vehicles and traveling to investing our money or time, we take calculated risks every day. We all have different levels of risk tolerance. We all have different perspectives of what risk is. To some people, investing their time and money is a risk. To others, not investing their time and money is a risk. We don’t even always agree on what exactly risk is. Obviously, real estate investing comes with some risk. However, not investing in real estate also comes with risk. Some people go so far as to avoid risk that they incur risks by doing nothing. Some will argue that investing is risky and to that, I say doing nothing is also risky. There are opportunity costs of doing nothing. So this leaves us at a crossroads – risk if we do risk if we don’t. SO how do we move forwards and not let risk paralyze us. Well luckily for real estate investors there are ways we can hedge our risk. Let’s explore those. Force appreciation – this is one of the biggest advantages of multifamily. Since multifamily properties (5 units and larger) are largely valued on their net operating income, you can increase the value of the property by increasing the NOI. Buy for positive cash flow – when you purchase a property that creates positive cash flow every month, you don’t have to worry about the current value of the property, current market conditions, and other things that may be somewhat out of your control. This is because whether or not the property increase in value or not, you are still getting paid to own it every single month. This gives you a lot of options. Secure long term debt. There’s almost no other asset in which you can get a long term, 30- year, fixed-rate loan. We might not know what the future holds, but with these types of loans, you can be sure that one of your largest expenses, your mortgage, will stay the same. Have adequate cash reserves – When you buy a cash flowing property, not only are you building up monthly income every month. If you have adequate cash reserves, you are more easily able to handle those unexpected expenses that may arise. Buy at a discount – when you purchase a property at a discount, or wholesale price, you can provide yourself with more wiggle room to complete the project, produce positive cash flow, or achieve whatever it is you’re doing with that specific property. There are several ways you can find and buy discounted properties. Usually what you’ll look for are sign of either owner distress or physical distress of the property. These include: Pre-foreclosuresForeclosure auctionsTax foreclosuresPhysically distressed properties FSBOFor rent signs*Bonus – business entities, like LLC’s LLP’s, etc., property insurance, and equity.As real estate investors, we’re constantly seeking asymmetric risk/return profiles, meaning the returns far outweigh the risks. The best hedge against risk is education. There’s nothing that pays a better dividend than investing in yourself. Once you understand how to protect your downside and mitigate risks, you can begin to take calculated risks that you may have once felt uncomfortable with.Don’t let the fear of losing keep you from winning. Invest in yourself, continue to learn, and remember to look for opportunities where others see challenges.
10 minutes | 3 months ago
Building Your Team – Friday Fundamentals
Building The Best TeamReal estate investing is a team sport. You don’t have to look far to see that. Take buying an investment property for example. We’ll walk step by step through the process and look at the team it requires to be a successful real estate investor.You, the investor, look for an investment property to purchase. Likely, that search isn’t solo. You might enlist the help of a realtor to find on-market deals, or build a direct-to-seller campaign using the help of virtual assistants, local support, and many other creative ways to find those elusive off-market deals.Once you’ve found the perfect deal, the next step is to get it under contract. Your realtor can help with this process, or if you’re more experienced you can navigate it on your own. Using your state’s real estate commission approved real estate contract is usually a good approach.Next, it’s time to get the financing process started. You’ll need a good lender who is experienced with investment property loans. Your lender will be able to help you apply and qualify for a loan that fits your investment strategy. They will also help and guide you through the process of getting to the closing table with the title company, and preparing the loan documents needed to close.Behind the scenes, your title company is doing the heavy lifting, making sure the property has a clear title with no leans, encumbrances, etc. Your title company handles the transfer of the funds, working with your lender to transfer the funds to the seller, only after all the appropriate paperwork has been signed by both the buyer and seller. Finally, you’ll close on the property, and this is just the beginning.Now you need a solid team to operate the property. You will typically enlist the help of a property manager unless you decide to self manage the property. The property manager will take care of the day-to-day activities from showing and leasing, to collecting rent, handling maintenance requests, and creating monthly P&L reports.Keeping an accurate record of your finances is crucial. These records will feed into your tax returns and future loan applications. Hiring a bookkeeper can be a huge help in this area. If you’re just starting out, you may manage the bookkeeping on your own. I’ve found Stessa to be a great asset management software that helps me manage the finances in my portfolio.Taxes are one of the five ways you’re paid as a real estate investor, so it’s important to make sure you’re getting the most out of it as you can. Hiring a good CPA to handle your taxes is critical. Unless you’re a CPA experienced with real estate investments, I suggest you get a good CPA on your team. They’ll be worth their weight in gold, not to mention saving you a lot of liability when you file your taxes on your own. Your CPA will be able to help maximize your deductions, consult on different tax saving strategies, and so much more. Definitely hire a good CPA, and you won’t regret it.Investing in real estate will sometimes require you to enlist legal assistance. From dealing with tenant/landlord suits to asset protection and corporate setup, specialized attorneys can be an asset on your team. There are many different areas of law, and finding an attorney who specialized in a specific area you need is important. Ask around for references and find an attorney who will fit well on your team when you need them.You can scale this team up or down to meet your needs. Each one of these team members will serve an important role on your team. But fortunately for you, this doesn’t mean you have to hire a team of a dozen people full time sitting in your office. You can hire each of these people for a specific task, kind of like a consultant. Other team members you may consider, depending on your specific business, are:PartnersInvestorsSyndication attorneyCost segregation consultantProperty tax consultantGo Far Together“If you want to go quickly, go alone. If you want to go far, go together.” – African ProverbReal estate investing is a journey and one that you will hopefully take you far. It’s not a get rich quick way to wealth. No overnight successes, no striking it rich, and no shortcuts. Rather, building a team supported by processes and systems is the key to success. Real estate investing is said to be a people business. It’s not complicated and doesn’t require you to start up the next tech company, design a widely used app or any of that. It simply requires building or using systems, creating processes, and leveraging the experience of others to build wealth and achieve financial freedom. Starting with yourself, learn as much as you can about investing in real estate, then start building out surrounding yourself with the best team you can. One day you’ll look back at your journey to that very first deal and realize just how much you accomplished with your team.ResourcesStessa.com
43 minutes | 3 months ago
Doing Well by Doing Good with Dave Holman
DAVE HOLMANWhen it comes to the world of real estate investing, there doesn’t have to be a distinction between doing well and doing good. Enter Dave Holman, a man on a mission to use real estate to solve problems and improve communities. Having nearly a decade of experience as a real estate investor, Dave is passionate about teaching others how to achieve doing well by doing good.Dave’s story did not start in real estate. His first major investment took place right out of college when he co-founded a multi-lingual retail chain in Bolivia, The Spitting Llama Bookstore and Outfitter, with the hope of improving the country’s social environment and ecology. It wasn’t until five years later that he entered the world of real estate investing and brokering with a similar mission: to help benefit residents, investors, and the planet.Dave now co-owns 94 rental units in Southern Maine, enjoying his time working with investors, owners, residents, and contractors to help with energy efficiency, syndications, and property management. In addition to investing and brokering, Dave expresses his passions through writing and is the author of three books: Youth Renewing the Countryside, Coffee Smuggler, and Cyber Fire. KEY POINTSStarting a real estate business from 0 How to achieve a freer-life mindsetReplicable entry into real estate from a duplex to 94 units Finding deals through mismarketed propertiesProperty management best practices for investors, landlords, and tenants Growing and scaling your portfolio by refinancingPassive vs Active investing – the pros and cons of each and how to choose the right fit for youWorking with new immigrants and creating a win-win situation helping communitiesLIGHTNING QUESTIONS1. What was your biggest hurdle getting started in real estate investing, and how did you overcome it?No capital, so he partnered with family who had the capital and who believed in him.2. Do you have a personal habit that contributes to your success?Stay positive to people and to life.3. Do you have an online resource that you find valuable?Genius ScanBigger PocketsRental HeroCozy4. What book would you recommend to the listeners and why?Let My People Go Surfing book by Yvon ChouinardInvestment Biker book by Jim Rogers5. If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?Try to erase some of the stigma against landlords, & wait for the right time for you.RESOURCESVisit Audible for a free trial and free audiobook download!WebsiteKatahdin Property Management
49 minutes | 3 months ago
Power Up Your Real Estate with Mike Fritz
MIKE FRITZMike Fritz is an entrepreneur, real estate investor, best-selling author, international speaker, coach, CEO & Founding Member of Titanium Capital Investments, and founder of Power Up Real Estate, a platform that helps people start in real estate investing, create financial freedom and enjoy the life they designed for themselves.Currently, Mike is doing a lot of bigger deals, mainly passive multifamily investing. He developed the 10-Week Multi-Challenge, a coaching program that helps people get a property within 10 weeks. KEY POINTSWhy it’s necessary to have a life blueprintHow your mindset affecs your successSteps to start designing your lifeThe 3 important pillars of lifeMike’s Freedom NumberHow to get started in real estate with house hackingLiving within your means and stretching your mindsetInvesting your money to up level your mindset that will create more cashWhy mentoring and coaching are worth your investment LIGHTNING QUESTIONS1. What was your biggest hurdle getting started in real estate investing, and how did you overcome it? Finding money/capital but overcome that by targeted and looked for seller financing low-money down deals that could generate cash for him.2. Do you have a personal habit that contributes to your success?All kinds of meditation, and exercises.3. Do you have an online resource that you find valuable?Ed Mylett App for mindset training Bigger Pockets4. What book would you recommend to the listeners and why?Secrets of the Millionaire Mind book by T. Harv Eker5. If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?Focus in a single direction rather than a split direction. RESOURCESVisit Audible for a free trial and free audiobook download!Power Up Real EstateYouTubeFacebookTwitterInstagramLinkedInThe 10-Week Multi-ChallengeEmail: Mike@poweruprealestate.comThe Power Up Real Estate Podcast
9 minutes | 3 months ago
10 Things to Be Thankful For - Friday Fundamentals
Real estate investing can be an emotional roller coaster, from the highs of closing on a home run deal to the lows of losing deals, and dealing with the many challenges that every investor faces. 10 things to be grateful for as a real estate investor:1. You can be creative to solve problems. Being a real estate investor, your primary responsibility is that of a problem solver. Most of the time there isn’t a policy, procedure, or go-by for you to turn to. Instead you’re able to be creative in your approach to solving problems. You’re also paid in direct proportion to the size of the problems you can solve. 2. Leverage. Ahh, yes, leverage – one reason why real estate outperforms other asset classes. As a physical asset, that has historically appreciated (both due to natural appreciation combined with inflation of our currency), banks, individuals, and other institutions are willing to lend borrowers, just like you and I, money to purchase real estate, since their money is collateralized (i.e. – backed) by a physical asset. In the U.S. we’re able to borrow long-term, fixed-rate loans, often as long as 30 years, with currently historically low interest rates. This leverage allows you to spread your capital across more than just one property, and thus control more and more real estate. 3. No glass ceiling. There is no limit to your success as a real estate investor, other than the limits you place on yourself. Want to buy 1 house a year for the next 20 years? Fantastic. Want to scale your real estate portfolio to 10,000 units? More power to you! 4. Creating win/win scenarios. Real estate investors sometimes have the perception from others as greedy landlords, Scrooge McDuck type people only concerned about their own well-being. But that couldn’t be farther from the truth. As real estate investors, we must create win/win scenarios for ourselves, the residents who call our property home, the communities we invest in, and our investor partners. 5. Compounding success. Real estate investing is like eating potato chips. It’s hard to have just one. This is because your success compounds with real estate. Starting out, you create a small snowball and with time it grows larger and larger, almost impossible to stop. 6. Wealth creation. Real estate investors become wealthy over time due to appreciation, principal pay down, and inflation profiting. As a property increases in value over time, the tenant is paying down your mortgage for you, all while your mortgage payment is paid back at a fixed rate in nominal dollars. 7. Financial freedom. Real estate investors grow rich in their sleep. If you follow the principles we talk about here on the show, then you’re investing in cash-flowing markets that generate positive cash flow. With enough of this passive cash flow, one can reach financial freedom. The tax benefits of investing in real estate are an added bonus, allowing you to keep more of the money you earn in your pocket. 8. Knowledge. There is a plethora of information and resources at your fingertips, from podcasts to books, meetup groups, conferences and so much more. 9. Relationships. Real estate is a team sport, and your success is directly related to the quality of your relationships. You get to develop relationships with partners, team members, the communities you invest in, and the residents who reside in your property. 10. Fulfillment. As a real estate investor, you find problems, create solutions, and are compensated for doing so. But more importantly, you’re p[providing one of the fundamentals needs of people – housing. You can see a direct impact of your actions, which gives you a sense of achievement and fulfillment. So, there you have it – 10 reasons to be grateful as a real estate investor. So often we get caught up in our own version of the rat race – growing our portfolios, scaling our operations, becoming better investors, that we can forget to stop and remember all we have to be thankful for. This is an exercise that can be done in every aspect of your life. I encourage and challenge you to think of 10 things you’re thankful for in any aspect of life you want. Write them down, reflect on them, and use them as inspiration to continue to engineer the lifestyle you want.
42 minutes | 3 months ago
Investing with Your Tribe with Travis Smith
Travis is the founder & CEO of Tribevest. He started his career with Morgan Stanley but realized the most direct path to true wealth and financial freedom is in the private markets. He is now a partner in several investor groups (he calls Tribes) that invest in SFRs (single-family-rentals), multifamily, and commercial real estate. However, his favorite investor group is the one that enabled him to own vacation homes and even a racehorse with his Brothers. Now his obsession is to level the playing field, and he knows first hand that forming investor groups is the great equalizer. As a result, he built Tribevest, an online platform where people can assemble their tribe, align, form, and operate their own investor group.KEY POINTSThe most direct path to true wealth and financial freedomLeveraging the power of your tribe Tribe Mentality, social contracts, and the great equalizer Hurdles and stigma of investing with friends and familyHow Tribevest can help people just like youWhy a lot of tribes never get startedHow the Job Acts of 2012 has democratized private investments LIGHTNING QUESTIONS1. What was your biggest hurdle getting started in real estate investing, and how did you overcome it?Travis didn't have the know-how, capital, or network but solved these challenges by forming an investor tribe.2. Do you have a personal habit that contributes to your success?Meditation, counting gratitude, a vision, and prayer every morning.3. Do you have an online resource that you find valuable?Bigger Pockets4. What book would you recommend to the listeners and why?Mindset book by Carol S. Dweck5. If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?Form investor tribe earlier, and told himself just how awesome the real estate is and why.RESOURCESVisit Audible for a free trial and free audiobook download!TribeVestEmail: firstname.lastname@example.org
11 minutes | 3 months ago
The Crossroads of Progress and Perfection - Friday Fundamentals
You are planning a road trip that will take you across the country, from Portland Maine driving south to Tampa, Florida. But being the perfectionist, Type-A person you are, you want to make sure everything for your trip is planned just right. That includes making sure you avoid every bit of traffic, travel when there is only good weather, and never even so much as hit a red light. Sounds ridiculous, right? With that perfect of a trip expected, you wouldn’t make it past the Casco Bay Bridge into South Portland, much less ever make it to Florida.If you instead committed to driving to Tampa, Florida with the expectations that you will come across unforeseen circumstances along the way, then you can best prepare for those now and start your journey knowing you’ll make it to those sunny and sandy beaches regardless of what the open road challenges you with. Not to mention, you’ll have your feet in the sand before you would have even left your front door, had you waited for the world to align to your perfect conditions. This is where so many of us find ourselves in our daily lives, although we may not realize it. We’re waiting for the perfect time to do that thing we’ve been thinking about and putting off. We want to wait for the right time, have it all figured out, and be completely prepared for every realistic and unrealistic scenario we can imagine.We find ourselves at the crossroads of progress and perfection. On one hand, we don’t want to make any hasty moves that may incur unnecessary risk. Therefore, we put off taking action thinking we are avoiding risk. But what we often don’t realize is not taking action doesn’t mean we’re avoiding risk. In fact, not acting is a risk in itself. Darned if you do, darned if you don’t!We are wired to avoid risk wherever possible. But this risk aversion can sometimes come at our own detriment. We may miss out on opportunities, unknowingly incur risk by staying in our same risky situation, or worse, never even experiencing the feelings of taking calculated actions and overcoming our own hurdles in life.This is what psychologists call loss aversion, which refers to a person’s tendency to prefer avoiding losses rather than acquiring equivalent gains (Wikipedia). Simply put, it is better to not lose $5 rather than to find $5. Do you keep what you have, or strive for more?Striving for perfection comes with opportunity costs. Opportunity cost refers to the loss of potential gain from other alternatives when one alternative is chosen. In other words, you cost yourself other opportunities by striving for perfection, rather than making progress. In the tech world, when a product is being designed, the developer will release a Beta version, which its purpose is to test market conditions, receive feedback, identify bugs, and in return, the developer improves the product in iterations, based on those inputs. Steve Jobs, co-founder of Apple, is a popular case study for this topic. Although he was a notoriously fierce perfectionist, even he released the early version of the iPhone with flaws. Think of the difference in technology between the first iPhone and the latest model. Had Steve Jobs waited to launch the iPhone until it was perfect, you might be carrying around a BlackBerry, Motorola Razr, or Nokia phone instead.Think back to a time when you were faced with a big decision- maybe a new job offer, deciding on where to attend college, proposing to your significant other, or moving to a new place for instance. Think of the feelings and emotions you had. On one hand, you’re excited, and on the other, you’re nervous about taking that next step and reviewing all the risks that come with it. Hopefully, you thought through the decision, weighed your options, and made the decision that was best for you with the information you had at the time. That’s how I have experienced life – a series of these decisions. Your life is a culmination of the decisions you’ve made. Your thoughts, decisions, and actions have led you over the years to where you are now.Tips for taking action:Commit to one step, then the next. Don’t look at the entire journey, but just your next step.Accept you’ll make mistakes. The only wrong decision is not making one.“Any action is often better than no action, especially if you have been stuck in an unhappy situation for a long time. If it is a mistake, at least you learn something, in which case it's no longer a mistake. If you remain stuck, you learn nothing.” - Eckhart TolleRyan Holiday, in his book, The Obstacle is the Way, suggests you should find the obstacles in your life and focus your effort there. That is where you will find accomplishment, fulfillment, and results. So next time you’re feeling indecisive or unsure of what to do, look for the obstacle in your life and tackle it. We each have something in our lives that we can progress, rather than perfect. For you, maybe it’s starting that new business idea, investing in that real estate deal you’ve been considering, planning that bucket list trip, or moving to that dream location. Whatever it is for you, start taking action now. Even with the smallest step, do something today that will put you one step closer to making that dream a reality. Soon enough you’ll have accomplished what once was only a dream and you’ll thank yourself for starting right now, today. ResourcesThe Obstacle is the Way
36 minutes | 3 months ago
Multifamily Investing with a Full Time Job with Mike Vann
Mike has been investing in real estate for almost 20 years throughout Arkansas and Missouri while balancing a family and a full-time career in the Medical Device Industry. He has built a $6M+ personal portfolio across multiple asset classes, consisting of Single Family, Small Multifamily, Apartments & Commercial properties. Having worked in the family construction business, he gained experience in both doing the work and in project management. These skills served him well as he has completed many flips, rehabs and even a heavy lift, $7k per door apartment complex renovation over the last several years.In 2017, after years of informally helping people through advice, mentoring and sharing his knowledge of the business, he decided to formalize and scale those efforts to help other busy professionals realize the security and freedom that can be attained through real estate investing. He is achieving those goals through apartment syndication and has since been involved in the purchase of approximately 1000 units in Kansas, Oklahoma and DFW valued in excess of $60M.Besides educating and helping busy professionals work their way towards financial freedom, Mike enjoys being involved in local, national, and international mission work and believes “We are blessed, to be a blessing”.KEY POINTSBalancing real estate investing with a full-time day jobScaling a duplex into 55+ unitsGrowth through doing the uncomfortable thingsTips to a successful multifamily syndicationWhat to look for in a potential partnerCommon mistakes of a new real estate investorPassive vs. Active investing LIGHTNING QUESTIONSWhat was your biggest hurdle getting started in real estate investing, and how did you overcome it?Taking action.Do you have a personal habit that contributes to your success?Prayer and strong faith.Do you have an online resource that you find valuable?Continue educating oneself on a daily basis like reading journals and listening to podcasts.4. What book would you recommend to the listeners and why?Rich Dad, Poor Dad book by Robert KiyosakiPhenomenal Teaching book by Wendy Ward HofferIf you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?Start now.RESOURCESVisit Audible for a free trial and free audiobook download!WebsiteFacebookLinkedInEmail: email@example.com
9 minutes | 3 months ago
Your Environment – Friday Fundamentals
Every single day we're influenced by so many different things, both internally and externally. Some of these influences we may be aware of, and others influence our subconscious. These influences together make up our environment.People make up much of your environment, but there are also other factors to your environment - your home, thoughts, health, energy, etc.Other people, whether you realize it or not, influence your thoughts. Your thoughts guide your actions, and your actions determine your outcome. If you want to change your life, then change your environment.There are people who give you energy, and then those that require your energy. It's important to surround yourself with positively influential people and a supportive environment.You may have to detach from certain things in your environment. Other things you may not be able to detach from and will have to learn to limit those influences (read: family)."You are the average of the 5 people you spend the most time with." - Jim RohnYour environment is ever changing, and with some intention, it can be for the better. Let's look at some resources to elevate your environment.Conferences provide an environment of people and information focused on a commonality. This can be a way to find people who have the mindset, values, and success that you may be looking for. From my experiences, conferences are a great way to get around people who are doing what you want to do, think the way you want to, etc.Meetups are like mini conferences. You can find meetup groups on meetup.com for almost anything you can imagine. These are often more social interactions where you can develop relationships in your community and find people who are interested in the same things you are. If there isn't a meetup group in your area for whatever it is you want, then go out and start one! Chances are other people are looking for that same group.Accountability Groups are another great way to connect with people who are all moving in the same direction together. An accountability group can be an informal group of friends or peers who network together periodically and help one another achieve their desired outcomes. By providing accountability to one another, you encourage and each other to accomplish things that you may otherwise not have the personal motivation to do.Your circle of friends has so much impact on your day-to-day thoughts, actions, and outcomes. Although most of us don't realize the effect our friends have on us, they do have quite an impact on our outcomes. Look at who you spend the most time with and evaluate what each person's positive and negative qualities are. Your circle of friends changes over time usually, considering all of your first-grade childhood friends and you have likely grown apart since then.Online content. In a world connected by the internet, we're constantly influenced by things we see online. In fact, there are now what we call "influencers". Don't ask me what an influencer actually does. But nonetheless, it's important to be cognizant of what online content we are consuming. If you find yourself watching silly videos and scouring funny memes, then you might not be promoting as positive of an environment as compared to consuming more productive content, or following inspiring people, or learning new things.These five things will help you elevate your environment and in turn, start to provide more positive influences in your life. Elevating your environment is a constant exercise and something you should be consistently evaluating and working towards. You yourself, just at much as other external influences, are a big influence. Think of yourself as a magnet. You can attract positive influences or you can attract negative influences. Instead of getting together with a group of friends and having a pity party about make believe obstacles while holding each other back, rather uplift others. Be the person who provides value to those around you. Be that person who everyone enjoys. One of the best ways you can do this is to listen to people more. Actively listen. Don't just wait for your turn to talk. Learn about other people. In return, you'll attract more positive people in your life, thus elevating your environment. That's what I hope I'm doing here on this podcast (although, yes I do all of the talking here haha).Elevate your environment. Surround yourself with positive influences. Uplift others. You'll be surprised just how fast you see positive changes throughout your life. Try it and let me know what you see.
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