Get Real Podcast

We throw around the phrase "turnkey investments" a lot, and I'm not sure we really know what that means. I talk with Heather Marchant about some of the bare minimum effort required by investors, even if they purchase a turnkey property. And I offer some suggestions for where to park your money if you're not ready for a turnkey property.

If a deal seems too good to be true, maybe it is. But how do you know when a deal promises more than it will deliver? Heather Marchant and I lay down our hard and fast real estate rules, and also talk about some amazing deals that we passed on because they broke those rules.

If you've heard whispers of a new line of credit that bests the traditional HELOC, then you'll be excited to hear from Caeli Ridge of Ridge Lending. She's only the second lender in the country to offer this product, and she dives down deep today explaining how it works when you might want to use one, and why it could replace your checking and savings accounts.

From a tenant's point of view, rent control sounds amazing. A stable rent that doesn't increase despite outside market forces is attractive, especially in a growing city with an out of control real estate prices. Ron lays down the landlord's point of view in a passionate explanation about the importance of supply and demand, and why rent control could damage the economy.

Comparing the ROI of real estate to the stock market isn't a straight apples-to-apples comparison. Heather and I walk through all of the different benefits of real estate, including appreciation, tenants, and low-interest loans, to figure out the real ROI of real estate and why it blows the stock market out of the water every time.

In a debate of a 15-year mortgage versus a 30-year mortgage, which one will win? I talk with Heather Marchant about the huge advantages of a 30-year mortgage and why it continues to be a superior product for real estate investment. Heather shares her own experience with purchasing real estate during a downturn, and how a 30-year mortgage can improve that situation.

Online and on social media, I'm seeing a lot of the lunatic phase of real estate. Individuals are calling other individuals out; self-proclaimed experts claim that there is no risk in real estate investing. I'm all for calling certain things out, but there's a way to do it. That's what I'm talking about today.

If your business is growing faster than you can keep up, you need a property manager. But what are a property manager's duties? How often should you communicate with them? Our special guest speaker, Chad Gallagher, answers those questions and many more in today's episode.

In the past, we've covered topics like how to create a culture of growth. Now we're going to discuss the very opposite topic: toxic work environments. How do you know if your company has a toxic work culture? What can you do to change it? Spoiler alert: it all starts with you.

What would you do to get the winning lottery numbers? As far as business and living your best life is concerned, that's exactly what Shaun McCloskey and I are offering you. On March 12th to 14th, Shaun will be hosting a three-day event to help you discover your business vision. Here are the details…

If it isn't broke, don't fix it. We're hosting our second lightning round Q&A with brand new questions! Can you use your 401k to buy real estate? And what do you need to know about 10 31 exchanges? We're going to answer as many as your questions as possible, as quickly as possible!

No matter how many times we say it, people still expect to jump into the real estate business and have an easy time with it. So today we've got Eric Brewer on the show – not only is he at the top of his game and building a real estate empire, but he knows better than anyone how much effort it takes to get (and stay) at the top.

In our previous episode, we talked about the lack of financial literacy in American citizens. Now we're going to give you solutions to better your understanding of personal finances, taxes, and how to talk to your children about money so that they don't have to learn about debt the hard way.

How is it possible that a college student can graduate with a degree, but then spend the rest of their life paying off student loans? How can families compile massive amounts of debt? Today, we're going to talk about why so many are so uneducated about this topic, and what we need to do to change that.

Who wouldn't want a vacation home on the beach? In a dream world, you could take as many vacations as you wanted and could earn your money back at the same time. But we aren't here to fill your head with delusions; here's the truth on vacation homes, and if they're really the best investment for you.

It's finally time for our very first lightning round episode! For weeks our listeners have been sending in their questions, and now we're going to answer as many of them as possible, and as quickly as possible.

In continuation of the previous episode, we're going to talk about what happens once you leave your job to go start your own company. Do you have what it takes to get a brand new business up off of the ground? Luckily, we know someone who is going through this process right now – today, we're interviewing Angela!

Breakups happen every day. Eventually, it's time for an employee to move on and do their own thing; especially if you've got an entrepreneurial-minded person on your team. But don't let this hinder you from hiring an entrepreneur in the first place; it could come back to haunt you. Today, we're going to explain why.

If you've ever wanted to be even mildly successful at something, you are going to be faced with adversity. When Ron broke four of his fingers six weeks ago, he hit a wall in his workout routine. He became sluggish, and what was once a morning routine started to affect his whole day. Ron had to burst out of his slump and find a new way to work out – and he did! Find out how in today's episode.

Once you become an investment property owner, you need to be prepared to make the tough calls. What do you do if your tenant is late on this month's rent? What extra expenses are a must, and which ones aren't necessary? We'll answer these questions and more!

When you put your first investment property under contract, your immediate reaction will be to panic. If you don't get your fear under control then you're going to suffer a lot of sleepless nights, and you'll waste money. That's why we're here to look at this whole process as logically as possible, and prepare you for whatever you might come across.

We've spent a lot of time talking about how to set down a path for success and achieve your dreams.Today, however, we're going to branch off of that and discuss what obstacles will try to block your path – and how to overcome them.

Tenant turnover costs property owners money. You lose a month's rent at a minimum while looking for another tenant and doing minor repairs. Learn tactics for avoiding turnover on this podcast. To start, find good tenants. If in a market flooded with similar vacancies, give an incentive for choosing yours. Be responsive to repair requests. You know this stuff, but it's good to get a 'booster shot' from the pros.

While working toward goals is a good thing, it is not everything. Many people, even smart investors, say they are building wealth now and will enjoy it later. Not a good plan. You can learn to find joy in everyday things. Ron and Angela believe it has to do with the satisfaction of living your vision and recommend that you listen again to episodes 26 and 27 with Shaun McCloskey. Shaun teaches about establishing and living your vision.

When the time comes to sell an investment property doing it the right way can potentially mean the difference in thousands of dollars and fewer headaches. The first and biggest decision is whether to sell it retail or as an investment property. They suggest making a list of the pros and cons of each method. The podcast brings up factors that go on that list. Bottom line: It's far less hassle to sell it as an investment, but being easy comes at a price.

Do you know how to correctly address setting rental rates at your properties? It's math, but it's math with a lot of moving parts to consider. Raising rents causes tenants to reconsider their situation. If you lose a tenant, you lose income for a month at a minimum. And if you purchase property that's not been taken care of, you may have to displace every tenant so renovation can be done. It's not an easy calculation.

Are you a great leader? We talk about that and what the qualities are of a good leader. Leadership is not easy to define or quantify, but most people know it when they see it. Leaders are willing to work and not be prima donnas. Leaders are good communicators who value and empower employees, thus building loyalty and momentum. They are willing to train and mentor others and believe that creating new leaders is a mark of success.

Our show today focuses on work-life balance, something just about everyone wants, but few have. The Get Real podcast doesn't sugar-coat things but presents work-life balance as difficult to attain and to maintain. Ideally, it starts with a life vision which you can learn about by listening to episodes 26 and 27. Beyond the life vision, you'll learn 6 other useable strategies for reaching a work-life balance.

This episode hits on the various ways real estate investing leverages your money. There really is no other investment that offers the same financial leverage as real estate. It gives you cash flow, value appreciation, depreciation on income taxes and doesn't cost you a fortune to get started. Learn this and more about the advantages of real estate investing as Ron and Angela share their knowledge in a fast-paced format.

This show is about fear and how paralyzing it can be for anyone. It is particularly an enemy of entrepreneurs because it takes guts to start your own business. Inner voices will tell you all the ways you can fail. Even some of your friends or family might tell you that. You've got to determine if the joy in gain is greater than your fear of loss and move on.

Ron Phillips and Angela Thomas talk about all the advice that's out there and how to tell the good from the bad. Some bad advice has a kernel of truth, and a lot of seemingly good advice can pull you away from doing what you do best. The most stellar move you can make is to find a local mentor who you respect and learn by working with/for him or her.

Ron Phillips and Angela Thomas first talk about why they do the podcast, which is interesting stuff. Then they discuss the types of freedom that come from success, which are the same types of freedom that drive people to pursue success. Ron and Angela agree that the 3 freedoms are (1) freedom to be yourself, (2) freedom to provide for your family and friends and (3) freedom to impact the world/your community.

A realtor from Charleston, SC, Caleb Pearson, is the guest on this show. He's an extremely successful retail agent who's getting more and more into investing. Out of his own need, Caleb created ZoomOffers.com, software which pulls properties listed on MLS and automatically sends offers. The user sets property criteria and offer calculation formula; ZoomOffers sends out the resulting offer. By definition, the people who respond are motivated sellers.

Warren Tayrle is a CPA who focuses on tax savings for his wealth-building clients. He explains advantages the 2018 tax revisions provide to real estate investors and how to reap those advantages using cost segregation. Warren also explains why you need to have a CPA that will help you plan your tax strategy throughout the year.

Larry Goins is a superstar in the real estate business—he's been at it for 30 years and has a vast wealth of knowledge to share. Larry's done just about every type of deal… mobile home parks, commercial, wholesaling, flipping, lease options, subject to, and developing. Now, however, he's primarily a hard money lender. Larry focuses on negotiating real estate deals in small towns... it's Negotiating 101, a life and business skill we all need.

Shaun McCloskey is the guest and he's providing a pared-down version of his life vision training. Acting on this information truly can change your life, as Ron can attest. Write your vision; then fine-tune it. Be honest with yourself about the full 4-step process and how it fits your life and your business. Understand that the 1st step is the most important and deserves your full attention.

Shaun McCloskey, Ron and Angela's guest, is getting real about having a life vision and a life plan. He coaches business owners on creating and sticking with their vision and he's seen too many people burn out running a business that was really running them… too much divorce and too much unhappiness. Listen to hear how having a life vision and plan can keep you heartache down the road.

Corey Peterson is an immensely successful investor in apartments and has managed and acquired over $95 million in real estate across the country. Corey is regularly interviewed by business journalists; he's spoken at Harvard and at NASDAQ and is a best-selling author. Hear how Corey got started in the business and what some of his methods are. He's a big private money user, an educator, and an all-around great guy.

Todd Toback is a sales star and an ace wholesaler and he's big on hiring people for your business... even if you think you're not ready to. He recommends cutting marketing if cost is the issue. Todd also recommends that you be crystal clear with everyone you hire about what your expectations are, and gives you a format to use to accomplish that.

Ron and Angela are passionate about managing your financial assets for maximum cash flow. Their guest, Chris Miles, is the self-named anti-financial advisor because he never advises clients to buy additional mutual funds because the return would never replace current income. Chris makes sure that his client's money is used to its best purpose. He's a good friend and a great source of referrals to RP Capital.

Ron and Angela get real about what you should do now if you have substantial equity in a property. You must take action. Pay down mortgage(s), buy additional investment property or a new personal home. Just do something. If you do nothing, you lose the gift the market's given you when the market goes down as it's expected to, and you'll wait years for it to come back.

What happens when you gain financial freedom and no longer need to work? What will you do that keeps you motivated? Ron and Angela believe it's important to write up a plan of what your non-working life will look like. A plan keeps you from flailing and being lonely at the beginning of this new phase of your life. It's time to get real about what financial freedom really looks like.

You've heard the old adage that if you follow your passion, you'll never really work a day in your life... but is that true for all successful people? Both Angela and Ron admit real estate investing is not their passion... but they love doing it and love that it gives them the financial latitude to follow their true passions. Listen in as they give advice on this important subject.

An antitrust lawsuit has been filed against the National Association of Realtors, the MLS and several large real estate firms. The suit is meant to dismantle the real estate broker system as it currently exists. It will also protect sellers from being required to pay the buyer-side commission. Ron & Angela get real with their thoughts on the subject.

Using your time wisely and learning to say "no" to people and activities that take time away from being productive is hard for some many. Be honest about what you use your time for and make time for yourself to move forward. Look at your calendar and make a list of things that you don't need to do… some meetings, some social events, etc. Embrace saying no.

Building a successful business is about helping others reach their goals. If clients are happy with the service and the financial growth they experience, they come back to invest more. Happy employees learn and earn. They feel empowered to act on the company's behalf, thus increasing the company's ability to grow. Plus, helping other people feels good.

On tap for today... we're going to take a hard look at investing outside of your comfort zone and outside of your neighborhood. If you feel like you need to be able to drive to your properties, get over it. Find a good property manager, get out of the way and let the property generate cash flow. You want income, right? You want cash flow.

There's a social media trend of people bragging about working ridiculous numbers of hours… calling themselves lions and everyone else sheep. It makes Ron and Angela crazy. They know that success doesn't require working 80-hour weeks. Success requires team building, working smart, focus, taking time to think, and enjoying a full life.

Ron hosts alone while Angela enjoys a vacation, which brings up a very important topic: do you have a real estate investing business or are you still in job mode? If you're tied to work 24/7, that's a job. A business has a well-trained and empowered team in place to keep the business humming in your absence. Rob covers 5 steps for creating a real business.

The most successful real estate investors us other People's Money in their business to buy rental properties. They're experts on the subject and are now sharing their knowledge with you. They explain various methods for correctly leveraging OPM, and explain why some methods are rare or just plain wrong. Private lenders and creative types of owner financing are discussed.