Investor Cheat Code Podcast with Mike Simmons

Today I talk about why it’s important to laser focus and not try to do all things in your business at the same time. Especially is a beginner it’s important that you focus and try to be great at one aspect of the business before moving on to another. Believe me I have made this mistake!   

  Do you need help investing in real estate? Do you understand how to grow, scale, and profitably build your company into the business that you want it to be? You’re in luck! I’ve been working for the past several years with some of the most successful real estate investors in the industry and from around the country. Names such as Andy McFarland and Bill Allen, along with myself, have built a program called “Seven Figure Flipping.” This exclusive mastermind and coaching program is designed to get you and your business to the next level. Interested in finding out more? Email me at [email protected] with the subject line “help,” and we’ll get on a call together to see if this program is a good fit for you and your business. In this episode, I had the distinction of speaking to Tommy Griffith, who has worked at companies such as PayPal and Air b’n’b. He has been executing real estate search engine optimization for more than ten years. Tommy currently runs ClickMinded, a digital marketing training platform for marketers and entrepreneurs. Tommy started ClickMinded as a side project while working full-time at Airbnb and grew his new business until ClickMinded began to generate more revenue than his annual salary. His journey started with the Four Hour Workweek in the realization he could work “off script” and start his business while working full-time. From reading this book, Tommy created an ebook and figured out how to get his book to the top of Google search engines. Tommy went into debt, creating a business that failed. He didn’t have the experience, passion, or capital to build his new business. As a result of this business experience, however, he learned SEO and internet marketing.  He landed a job working SEO with PayPal in 2008 when SEO first landed on the internet scene. While working at PayPay, he started tinkering with side projects to pay off his debt from his failed enterprise.  In 2011, Tommy had an idea for an iPhone app development lead generation website. After creating this platform, he failed to continue to have an interest in his project. Tommy emphasizes that you need to want to get out of bed and to be passionate about your work or project.  When he joined Airbnb, the company was small, with under 50 employees. As his job came to a close, Air was hosting Beyonce for an event in a rental. Listen in to find out the definition of exit velocity, learn how to build an unfair advantage, and why you should have connections when you move forward into a new business. What are the key components Tommy now uses when he builds a remote team? Learn how to find and hold onto your organization, including how to write your job description. Links and Resources  ClickMinded Get in Touch with Mike at Just Start Real Estate  

In this episode I am actually being interviewed by Biill Allen on his podcast - House Flipping HQ. Bill is interviewing me about me systems and processes and how I track numbers in my business. I also reveal the subject of my presentation at the upcoming Flip Hacking Live event in San Diego this October 2019!

  In this episode I discuss why I believe some people succeed and others fail. I have coached and mentored hundreds of people over the last few years and see a definite common thread in those who succeed. People who do not achieve their goals do not have a key trait that I think is critical. Check out this episode to find out what that is

    Do you need help investing in real estate? Do you understand how to grow, scale, and profitably build your company into the business that you want it to be? You’re in luck! I’ve been working for the past several years with some of the most successful real estate investors in the industry and from around the country. Names such as Andy McFarland and Bill Allen, along with myself, have built a program called “Seven Figure Flipping.” This exclusive mastermind and coaching program is designed to get you and your business to the next level. Interested in finding out more? Email me at [email protected] with the subject line “help,” and we’ll get on a call together to see if this program is a good fit for you and your business. In this episode, I chatted with a friend of mine, Terry Burger. Terry is an incredible investor and a real inspiration to those in the flipping business. One of the things I love most about Terry is that he is a family man who prioritizes his wife and kids over everything, including his business. Yet, he has managed to build an incredibly valuable business that continues to grow! He definitely shows that you can have the lifestyle you want and be successful as an entrepreneur without sacrificing your personal life. The biggest compliment, I believe, that you can give someone is that they’re a very good person. Terry Burger is one of those guys! Terry’s background is in classical music and teaching middle school. He wanted a career change and jumped into real estate. Within his first year of getting his real estate license, he sold 50 houses. The first year “I ran around like I had my hair on fire” selling and flipping homes. His wife was pregnant with their first son and was understanding and supportive of Terry in his new position. As the kids started growing, Terry realized he needed a change in his schedule, especially on Saturday mornings, when his son was playing soccer. He missed his son’s first soccer goal, and that was his stake in the ground moment when he knew his work schedule had to change. When Terry was turning 80 to 90 homes per year with his team, the recession hit. Terry went from his highest selling year to selling 12 homes in 2009. He lost his second home so he could keep his primary residence. The hardest part was his selling his Baby Grand Piano so his family could afford to live for the next three months. After the recession, Terry had to figure out a way to make money using real estate. He listened to real estate podcasts and educated himself on how to be an investor in real estate and house flipping. Terry offered one of his clients to buy his home, after getting together money from his friends, which started his involvement in flipping homes. Listen in to find out how Terry went from being a real estate agent to becoming a full-time real estate investor, how he rebuilt his team, and why he took a 50% pay cut to start his new endeavor. How the Seven Figure Mastermind gave Terry the tools to move onto the next level. Notable Quotes “Mike Simmons, it’s an honor to be here, man. You’re my hero!” -Terry Burger   “My favorite game growing up was Monopoly, so I was destined to get into real estate.” -Terry Burger   “My son played soccer, and my goal was to be at every game. I had to show a house on Saturday and missed my son’s game. My wife texted me and said, ‘Collin just scored his first goal,’ and I was devastated.”  -Terry Burger   Find out how Terry Burger turned around his crazy workweek to more effective and less crazy work life to find balance for his family.   “People leak who they are...you’re gonna leak the good stuff, you’re gonna leak the bad stuff. A leak has a source somewhere.” -Terry Burger   A turning point after the recession was when Terry found out about a local investor making money on flooded homes. “There was a huge flood that came through my area and flooded a bunch of houses which were bought by an investor. The investor told me he was making $40,000 to $50,000 on flipping houses. I went home and looked up the company, and, sure enough, it was true. He was making this type of money.” -Terry Burger   Terry was working with a client to sell his home as his realtor, and the client repeated he didn’t want to have buyers walking through his home. Realizing this was the opportunity he was looking for to become an investor, Terry offered to buy his home. “Sir, I’ve been really wanting to buy my first investment property, and I’m willing to make you an offer on your house, can you give me three or four days?” -Terry Burger   Terry remembers one of the Seven Figure Masterminds retreats he attended in San Diego. “I had two problems. One, I was still trying to sell real estate. Justin jumped all over me, he said, ‘Next time you come here you better not sell a single house!’ It forced me out of my comfort zone, like Linus with his blanket, I had to leave my blue blanket behind.”  -Terry Bur

  Do you need help investing in real estate? Do you understand how to grow, scale, and profitably build your company into the business that you want it to be? You're in luck! I've been working for the past several years with some of the most successful real estate investors in the industry and from around the country. Names such as Andy McFarland and Bill Allen, along with myself, have built a program called "Seven Figure Flipping." This exclusive mastermind and coaching program is designed to get you and your business to the next level. Interested in finding out more? Email me at [email protected] with the subject line "help," and we'll get on a call together to see if this program is a good fit for you and your business. In this episode, I'm publishing a recording of a presentation I gave at last year's Flip Hacking Live Event. In my presentation, I will describe the disposition process you can use in your business if you're a wholesaler to 10X your returns and profitability on every real estate deal you do! First, I want to talk about mindset. Second, I'll show you effective strategies. Third, I'll tell you about the tools of the industry which you should have in your toolbox to make you a more effective wholesaler. Do you know the role of a disposition manager? Their purpose is to take a contract and sell the contract to the end buyer. Disposition management is often an underserved part of the business. I'll talk about the "how" of the disposition manager. I'm very passionate about this position in real estate wholesale, as this can make or break your real estate deal.  Targets are a great way to achieve and exceed your goals. There are moral and ethical ways to not only hit your target goal but to go past your goal and find out how much you can attain with the right tools.  How much should you make for a fee? Avoid the "good enough" mindset. The parameters you give someone are the parameters they will work within their business. Aim high and create high parameters to reach and extend yourself and your team to create not just right, but excellent results. Remember, "time kills deals." You want to move fast with a sense of urgency to achieve our metrics. Create a sincere rapport with sellers. Buyers' relationships should never create first look opportunities. Know the steps of building your buyers list, who you should call, and which buyers are not inside your price range. Above all, don't let your opinions get in the way of getting an excellent deal for your business.  What should you put in your listing? Find out what you should have as a downloadable file, the location, perks of the neighborhood, and other descriptions to enhance the curb appeal of your listing. Listen in to find out how many days you need to close, have your deposit in the bank, and close the deal on the home to make your process more effective and efficient. Find out what moves through the minds of landlords and how they price out their real estate. Who should be completing the pre-work for sales? When you shouldn't work with a buyer and when to and when not to show the home. Links and Resources Flip Hacking Live Get in Touch with Mike at Just Start Real Estate SHOW SUMMARY Get the 411 on upping your wholesaler game to 10X your returns as I recap my presentation at last year's Flip Hacking Live workshop. Did you know you can make money when you sell and buy? How can you make more money as a wholesaler? I'm going to show you how to use metrics and create goals for your real estate investment business. Learn the how-tos of the trade, which will benefit you as a business wholesaler and how to build your buyer's list. Which real estate ducks should you have in a row to make your process efficient to get the best price for your property. 

  Do you need help investing in real estate? Do you understand how to grow, scale, and profitably build your company into the business that you want it to be? You’re in luck! I’ve been working for the past several years with some of the most successful real estate investors in the industry and from around the country. Names such as Andy McFarland and Bill Allen, along with myself, have built a program called “Seven Figure Flipping.” This exclusive mastermind and coaching program is designed to get you and your business to the next level. Interested in finding out more? Email me at [email protected] with the subject line “help,” and we’ll get on a call together to see if this program is a good fit for you and your business. Today I have the pleasure of speaking with Marco Santarelli. Marco is the host of the Passive Real Estate Investing Podcast and the founder of Norada Real Estate, a premier real estate investment firm. His mission is to help others to create passive income and financial freedom by taking the guesswork out of investing for the past 15 years. His team is dedicated to researching top real estate growth markets and structuring complete turnkey real estate investments to minimize risk and maximize profitability. Marco started investing in real estate at the age of 18 after watching his mother work extremely hard at two jobs after their parents divorced to raise her two sons. He purchased his first rental at 18, fixed up the home, and rented the house.  Many years later, Marco made the leap in 2003 to get back into real estate after trying other businesses. In the nine months after his re-introduction, he accumulated 84 doors, mostly single-family small apartments. Others were asking Marco to coach them, although he wasn’t interested. Marco offered to pass along deals to others, realizing there was a niche business to provide investment property rentals to investors. These properties could become turn-key properties and wanted to define a minimum standard for real estate. Marco refers to minimum standards within his own company’s standardization for rental properties. There are standards which Marco’s company defines for turn-key real estate: Property is in a good, stable market Property is located in a good, safe neighborhood Property is new or newly renovated or new Tenant occupied Cash flow positive  Can be managed by full-service property management Remember that turn-key rent-ready real estate is differentiated from the minimum standard for real estate can be in good condition, there may be limited life left on the roof, the home is stabilized with cash flow, a tenant. You can cash flow until you have to make renovations. At some point, you’ll need to take your profits and create a passive stream of income to start on the pathway to financial freedom. You need to know the criteria that you want for your investment portfolio, so you aren’t wasting time on real estate, which does not fit the requirements for your portfolio. Marco has ten rules for real estate investing: Educate yourself and build your knowledge to ask intelligent questions Set your SMART investment goals to create a roadmap and action plan Never speculate or gamble on properties Invest for cash flow to cover all services Be market agnostic Start with the Market in Mind and be market agnostic Diversify across markets geographically Always use a professional property management company Maintain control Leverage your investment capital   Listen in to find out the details about market agnostic and taking a top-down approach to purchase property, how to provide diversification and minimize risk, and when you should buy within a two-hour range of your home and when you shouldn’t abide by this rule. In This Episode: [03:57] Background on who Marco is and how Marco built his business. [06:49] Is there a minimum standard for real estate? [10:08] Creating a passive stream of income. [11:05] Marco’s Ten Rules of Successful Real Estate Investing [35:03] Look at real estate as an asset to be managed on a national basis and find out who you want on your real estate team. [36:27] Asset protection attorneys and other services you want to have when you are investing in real estate. [38:34] How do you know if the zone or neighborhood you want to invest in is good? [40:57] Desirable markets in which to have turn-key opportunities. [44:30] Mindset and attitude of a good investor.   Links and Resources Just Start Real Estate on the Web Just Start Real Estate Coaching Get in Touch with Mike at Just Start Real Estate Marco Santorelli on Twitter Marco Santorelli on LinkedIn Norada Real Estate on the Web Norada Real Estate Investment on Facebook Passive Real Estate Investing on the Web  

  Do you need help investing in real estate? Do you understand how to grow, scale, and profitably build your company into the business that you want it to be? You're in luck! I've been working for the past several years with some of the most successful real estate investors in the industry and from around the country. Names such as Andy McFarland and Bill Allen, along with myself, have built a program called "Seven Figure Flipping." This exclusive mastermind and coaching program is designed to get you and your business to the next level. Interested in finding out more? Email me at [email protected] with the subject line "help," and we'll get on a call together to see if this program is a good fit for you and your business.   In this episode, I talk about what's been going on with me over the last couple of years. I started and modeled my show after my John Lee Dumas, and offered my show five days a week. I changed my model and took on a partner. As time went on, I joined a high-level coaching program in which I met great friends. Seven Figure Flipping is an amazing mastermind program in learning how to make your business great.   Most people don't realize how much work they need to put into growing a new job. I delve so deeply into coaching and mentoring that I wasn't able to make time for everything. I decided to say no to my podcast.   Now, I have new philosophies and experiences to share with others as a result of growing my business and coaching other entrepreneurs. Similar to speed dating, you talk with others about their experiences, which gave me exponential growth.   I've learned so much in the eleven years of my real estate business. I have many new perspectives and offerings, along with mentoring and coaching others to grow their business.   I haven't been able to be here for you, and I apologize. Moving forward, I'm bringing back my usual schedule with better content.   Listen in to find out what I'm going to bring in to future podcasts moving forward, wholesale real estate, house flipping, and who I'm going to bring into the hot seat.   In This Episode: [02:02] How I started off my show five days a week. [03:18] When I took on a role as a leader in Seven Figure Flipping. [05:42] Why I decided to say no to my podcast for the past year. [07:23] How my viewpoints about real estate have changed and evolved. [08:43] What I’ve learned about real estate eleven years into my business. [09:21] What I’m going to bring in to my future podcast episodes. [12:01] I wouldn’t believe I could have accomplished this much business at this point in my real estate career! [14:22] Come and meet me at Flip Hacking Live.   Links and Resources Just Start Real Estate on the Web Just Start Real Estate Coaching Get in Touch with Mike at Just Start Real Estate Flip Hacking Live

  Do you need help investing in real estate? Do you understand how to grow, scale, and profitably build your company into the business that you want it to be? You're in luck! I've been working for the past several years with some of the most successful real estate investors in the industry and from around the country. Names such as Andy McFarland and Bill Allen, along with myself, have built a program called "Seven Figure Flipping." This exclusive mastermind and coaching program is designed to get you and your business to the next level. Interested in finding out more? Email me at [email protected] with the subject line "help," and we'll get on a call together to see if this program is a good fit for you and your business.   In this episode, I chat with and interview a friend of mine, Bill Allen. I've had Bill on my show previously, check out my other interviews with Bill to get even more great information on real estate investing. Bill is a successful real estate investor that managed to build an extremely impressive business while working a full-time job in a very short amount of time. He's one of the smartest investors I've ever met. In addition to chatting with Bill about how he created his real estate portfolio, I'll also show you why the most common objections people use as an excuse for not being able to create a real estate-based business. Bill looked into flipping real estate for a secondary source of income and completed his first flip while he was stationed in Maryland in the Air Force. He joined the 7 Figure Real Estate group and made more money than he had ever hoped. Bill is looking for a 40% to 50% growth in numbers from last year to this year.   Bill talks about how his future goal to be around for his children and how real estate was going to be a part of his more significant goal. He talks about how you need to be passionate about accomplishing your intention to stay focused on your real estate growth. Concentrate on your why early on to stay on task to complete your goal. In the first year, he flipped over 60 homes.   Objection: I'm not able to create a real estate business if I have a full-time job. Not true! Bill was able to make a seven-figure income while working his full-time military position.   Bill looks at marketing, similar to fishing. He has a net and throws the net over a large area of the lake. To accomplish reaching many people, he spent $3000 a month for six months for a direct mail campaign. To generate the income you want, you need to go all-in, which is what Bill took action on when he started his real estate business. Bill's market is made of 350,000 people with a response rate of 3%, which is good for direct mail. One aspect of Bill's marketing was to delegate by hiring an assistant who would perform tasks needed to run the business, such as lead delegation, answering phones, and various accounting duties.   If you don't have the capital Bill has to put into your marketing, you can still run an effective marketing campaign with these suggestions: network and speak to others, go with wholesalers to deals, learn the trade and make deals, get a list that is pre-foreclosure or tax-delinquent, drive around on trash day (to see who is not putting their trash out) and write down the address of homes without owners and research these homes. You can put more time into your business if you don't have a large budget for marketing.   Listen in to find out and how Bill and I both built our teams, how and what worked for Bill and me when delegating work to other members of his team, Bill's marketing campaign plans, and when to run your company from a higher role. Also, Bill explains how and when he decided to work more at a C-level position and how he started to work smarter instead of harder.   In This Episode: [04:04] Bill introduces himself, how he started in the business. [07:22] What are the initial items or actions Bill used to get started in real estate. [10:59] Bill’s early realizations about flipping real estate transactions. [14:06] Your job is to figure out what is the best way to monetize or exit your property. [14:56] What type of marketing did Bill create in the past and what marketing is Bill currently implementing for his real estate business? [22:32] How Bill delegated his work and time for different tasks to build his real estate business. [24:21] Exponential marketing growth and how I invested in my marketing. [25:30] Bill’s suggestion for marketing on a smaller scale budget. [29:20] Reevaluate how you are spending your time if you don’t have time OR money to invest in your new business. [30:08] How Bill and I build our teams from the ground up. [35:58] Who should you hire first and what tasks should you outsource? [40:36] When working with real estate, create a company, not just a job for yourself. [43:12] At what point can you afford to work on your company instead of in your company? [46:10] What Bill’s day cur

  Do you need help investing in real estate? Do you understand how to grow, scale, and profitably build your company into the business that you want it to be? You’re in luck! I’ve been working for the past several years with some of the most successful real estate investors in the industry and from around the country. Names such as Andy McFarland and Bill Allen, along with myself, have built a program called “Seven Figure Flipping.” This exclusive mastermind and coaching program is designed to get you and your business to the next level. Interested in finding out more? Email me at [email protected] with the subject line “help,” and we’ll get on a call together to see if this program is a good fit for you and your business. In this episode, I chat with Anna Myers, who is an incredibly successful commercial multi-family real estate investor. Anna began her investing career in San Diego after leaving the IT industry. She has successfully applied her knowledge and experience in the IT world to create a brilliant and successful real estate company. Besides running her own real estate company, Anna is also an instructor at Multifamily University. Anna and Neil, a founder of Multifamily University, partnered to purchase apartments in 2018 and are looking to put more apartments in their portfolio. Anna’s grandfather was a real estate magnate in California. She is the youngest grandchild of the family of a commercial real estate family. Her first career was in computer programming, and her degrees are all in IT. Her next job was as a digital photographer in southern California. She learned about business ownership and found out about scaling a business. She then set a five-year plan to exit her photography business and to become a full-time real estate investor. Initially, Anna planned on investing in a single-family home. As she analyzed markets, she realized this was hard to scale. The value of a commercial multi-family home is much better than a single-family home. The variables you can control put you ahead financially than a single-family home. She took a boot camp on investing in commercial multi-family and decided to dive into this investment. Anna talks about the types of markets you want to look for when investing in your new property. Elements to look at are job growth, population growth, and other factors. She also looks at these factors in a specific way. All of her purchases have to make sense from a data standpoint. She currently has a team of real estate investors. Anna’s team are equity investors who are trained on how to use data science to buy apartments using data-based information. Their team does not buy in California. Make sure to partner with people who live in the town you are investing in and people who are willing to travel to the investment city regularly. Additionally, make sure you have a suitable lender and broker relationships to get the best deals. Anna describes how to find a good property manager by setting up appointments, asking the right questions, and looking at their Google and Yelp reviews, among other metrics. Property management for 80 units and above, make sure you have a person who is full-time property management for this investment. Your manager will also need someone to look over them to see the progress of the property. Anna has a tracker to have visibility into this day-to-day process. Listen in to find out what types of buildings are more desirable, should you purchase a building that already has renters, and what types of renovation are appropriate for the types of tenant buildings and area you are renting your apartments. Find out what percentage of your building do you need to have filled with getting a Fannie Mae loan and information on Bridge Loans. Learn how you can experience tax benefits with opportunity zones. In This Episode: [03:47] I introduce Anna Myers to the show. [09:28] Why investing in multi-family homes? [13:18] What is the difference between single family home and commercial markets? [15:50] Anna describes her real estate investment team. [18:25] How to find a good property manager. [20:13] Anna’s portfolio and the types of commercial properties they invest in with their company. [22:29] How to improve your net operating income. [24:52] Should you purchase a building that already has renters? [28:00] Moving the building and planning to sell the building. [31:08] Types of renovations to do and what renovations to leave for the next investor. [35:47] How to optimize asset management with data science. [41:10] Census tracts and opportunity zone funds. [51:37] Anna’s webinars to learn more about commercial investment property. Links and Resources Just Start Real Estate on the Web Get in Touch with Mike at Just Start Real Estate Anna Myers Dominates the Real Estate Space with Tech GroCapitus.com Data Science for Real Estate Investors

  Do you need help investing in real estate? Do you understand how to grow, scale, and profitably build your company into the business that you want it to be? You’re in luck! I’ve been working for the past several years with some of the most successful real estate investors in the industry and from around the country. Names such as Andy McFarland and Bill Allen, along with myself, have built a program called “Seven Figure Flipping.” This exclusive mastermind and coaching program is designed to get you and your business to the next level. Interested in finding out more? Email me at [email protected] with the subject line “help,” and we’ll get on a call together to see if this program is a good fit for you and your business. In this episode, Amir Dukic joins me to chat about his AirBnb model of investing in which he and his wife have been very successful in implementing. Amir is based in Charlotte, North Carolina, and has a background in IT and engineering. After purchasing his home in Charlotte, he and his wife decided to make the separate dwelling attached to their home into an Air rental. AirBnb’s are more successful in metropolitan markets than traditional vacation home markets. Business and family travelers will often use AirBnb to get a sense of what the neighborhood is like, especially if they are planning to move to the city or town. The types of travelers who utilize AirBnb are looking to get away from the downtown scene, however; they want to be close enough for a short car ride to arrive downtown. Paint the picture of what your property looks like through your description on your account. Highlight the neighborhood and why your potential guests want to stay in your neighborhood at your location. Amir and his wife quickly realized the income from their unit covered the mortgage for their home. They decided to acquire more properties to rent through a master lease model. This removed the barrier of having large amounts of capital to purchase multiple homes. What would happen if the owner of the home wants to sell? Amir and his wife protect themselves with contracts and are strategic about the lease terms and term of leases which they sign. Amir explains how he and his wife scaled their business from one rental at their home to over 70 rentals. Early on, they realized they needed to automate processes as they were performing all the upkeep manually, which used up much of their management time. Amir brought in a partner, James, to build the backend technology to assist them in automating much of what they did in the day-to-day business. A well-performing property is filled 60% to 70% occupancy, at 30% occupancy the property breaks even. Automating their property, especially heating and cooling, reduces the amount of money used to upkeep the properties. Amir also makes sure their property is safe by changing the codes often and giving specific laws to managers and cleaners. Make sure to avoid pitfalls for your AirBnB, such as buying the cheapest Wi-fi and not having hot tubs and other costly amenities. Amir takes out many items they don’t have to have, however,’ laundry is a must. Many people will stay long-term, and a washer and dryer is a necessary amenity. These lead to more issues and higher costs. Focus on purchasing for location. Listen in to find out how to evaluate a house for rental and the rules and guidelines you want to use to determine rent. Find out how to use resources online to assess the amount of rent you can charge at a location. Learn what the aesthetic reasons to purchase or lease a home for rental on AirBnb are. What can you easily replace or redecorate to make your home more appealing? Should your home you rent be a large home, small home? How many bedrooms or bathrooms should you have in your rental home? Where should you start when considering renting on AirBnb? In This Episode: [04:19] Amir talks about his background and how he ventured into the AirBnb model of investing. [06:28] The market where Amir’s first Air is located. What types of markets work for AirBnb? [08:13] Where is the most desirable markets to have an Air? [09:50] How the marketing component plays into filling your Air rental. [10:56] The success of his first Air rental, what Amir learned with his first rental unit. [15:03] Why would someone want to offer their space as a master lease? [17:11] Typical lease terms for a master lease on a property. [20:52] How Amir and his wife scaled their business from one rental to over 70 rentals. [22:22] Rental processes James was able to automate with his program. [26:42] What types of problems can derail and Air rental? [30:42] How should you determine rent for your rental? What is the rule or guideline for charging rent? [31:18] How to pre-evaluate for occupancy of your rental. [33:27] Physical characteristics of the house you want to have when renting out a home. [36:04] How many bedrooms and bathrooms should you look for in a home? [39:11] What about prox

This Week’s Episode: Beka Shea joins me on this episode.  Beka is an investor that I think highly of, as well as a personal friend. Beka went to school for mechanical engineering. After graduating, she became a US Naval Officer, serving on an aircraft carrier. After serving, she worked as an engineer in the energy arena, helping to build a power plant to support aircraft carriers stationed in Japan. In an effort to spend more time at home with her daughter, Beka got into real estate investing. She has built a team to support her business of flipping houses, wholesaling, and rentals. In this conversation, you will hear Beka’s story.  You will learn why Beka got into real estate investing and how her first deal came together and became the foundation for her real estate career.  Since she comes from an engineering background, Beka is extremely strategic, and she explains why she does things certain ways.  Beka also describes moving markets and adjusting to real estate in different areas of the country.  Beka is very open and transparent in this conversation, and you will get great insights into her pricing, team-building, and much more. You’ll Learn:  [06:41] - Beka talks about her life before real estate investing. [09:05] - Beka explains why she decided to get into real estate. [09:43] - Beka shares that she was very nervous about her first meeting. [10:39] - After attending a meeting, she asked her friend about a loan, but the friend instead wanted to become a partner. [11:49] - Beka talks about evaluating properties. [13:43] - She shares the results of her first investment. [14:35] - Beka describes her partnership and explains why they split. [15:49] - Beka lists the next few deals and explains why two similar deals ended with very different results. [19:13] - Two years ago, Beka relocated to Pennsylvania. She talks about how some expenses vary from location to location. [22:14] - Beka explains why she decided to go through a coaching class and shares advice on deciding whether or not you should pay for coaching. [28:13] - Beka shares how coaching changed her mindset and business. [33:56] - We talk about adjusting to the changing market. [35:38] - Beka talks about her policy on showings and pricing. [36:55] - Beka shares how things are currently going with her business. [37:50] - Beka describes her team. [43:26] - Beka shares her goals, including a unique goal for revenue. [47:54] - Beka explains what she would do if she needed to start her business from scratch in a new area. [50:11] - Beka says that you will never estimate your repairs correctly. [52:02] - Beka addresses her goal setting strategies and what she wants for the future. [53:01] - We discuss the need for coaching, even for people starting out. Resources: The 12-Week Year: Get More Done in 12 Weeks Than Others Do in 12 Months - Brian P. Moran and Michael Lennington If you’re interested in learning more about our coaching, email me - [email protected].  We’d love to help you meet your goals. If investing and real estate is your dream, there is only one way you can make it a reality...JUST START!

Mike Cowper joins me again on the podcast.  Mike is my business partner, and I enjoy bringing him on the podcast to discuss our business and the strategies that we have used to grow our business to what it is today.   In this conversation, you will hear Mike, and I discuss some of the common seller objections.  You will encounter seller objection, and we share some of our techniques of overcoming this objection.  These objections are usually legitimate questions and concerns and handling these concerns and addressing them in a productive and respectful way can help move the sale to the next step. Connect with Mike Cowper: Mike Cowper on LinkedIn You’ll Learn: [06:09] - Going through a realtor is more conventional. Buying from a wholesaler is new to a lot of people. [06:50] - We discuss how to respond when the seller says they would like to collect other quotes. [10:22] - We share some tips for new people on how to sell you and your business when competing against more established businesses. [13:30] - Sometimes people are just not sure if they’re ready to sell.  We explain how to handle this scenario. [16:19] - Mike and I discuss how to handle a situation where the seller believes the price you offer is too low.   [20:14] - We talk about renovations and why you should not be afraid to inflate renovations numbers to the seller. [23:10] - We talk about a seller stating their neighbor’s house sold for a certain amount. The response involves using comps to show this is not a like-kind sale. [25:28] - The seller says another realtor told them they could get more for the house. We share how we handle this situation.   [31:40] - Mike explains that the goal isn’t to hoodwink anybody, but rather to be honest with sellers. If you’re interested in learning more about our coaching, email me - [email protected].  We’d love to help you meet your goals in 2017. If investing and real estate is your dream, there is only one way you can make it a reality...JUST START!

This Week’s Episode: Mike Cowper joins me again on the podcast. Mike is my business partner and I enjoy bringing him on the podcast to discuss our business and the strategies that we have used to grow our business to what it is today. In this conversation, you will hear Mike and I share the tools that we use with our business. We are frequently asked about the technology and apps that we use help our business run smoothly. If you are looking to streamline your business and get yourself and your team operating in an organized manner, this episode will be extremely valuable for you. Connect with Mike Cowper Mike Cowper on LinkedIn You’ll Learn: [05:45] - Mike explains that there are an infinite number of tools out there.  Knowing what you need is the first step in finding the app to help solve your problem. [06:12] - Many people are app junkies.  I explain why it’s sometimes best just to ask people what they use and stick with it. [07:05] - The #1 app that we use with our business is WhatsApp.  We describe the app, explain why we prefer it over other messaging options, and share how we use this messaging app. [10:37] - The second biggest piece of technology we use is Google and its services like Docs, Drive, etc. [13:42] - Google Voice is a great way to have a 2nd phone line dedicated for business.  I encourage you to use this as a buffer and changing out your private line. [14:55] - I also use Sideline for additional phone lines.  This is a free app that provides you with a local telephone number.   [15:44] - Trello is a to-do app that helps you organize tasks and projects.   [17:08] - Podio is the CRM service that we use to organize and manage leads. Podio is the brain of our company. [19:18] - I recently downloaded Boomerang for Gmail.  This service allows you to track emails and it gives you reminders. [20:40] - FollowUp.cc is a similar service that Mike uses.  This service also has a Chrome plugin. [21:40] - For faxing, I use MetroFax.  There are lots of fax services out there, but this has been fast and reliable for me. [21:23] - I use TurboScan to scan documents and email them to people. [23:07] - With our business, we use DocuSign.  If I need to sign something and I don’t have access to a printer, I use SignEasy.   [24:12] - Mike uses Evernote to collect his documents, and he explains that it could even be used as a CRM. [25:24] - We use Zoom with our business.  It’s a video-conferencing software that we prefer over Skype and other alternatives. Mike shares some of the features we really like about this service. [27:20] - Mike talks about Jing, which is a free screen-capture application.  We use this for our training manuals and videos. [28:30] - Mike uses IFTT to share receipts and notes with our bookkeepers.  He also sends himself notes to his email.   [29:27] - Our team uses Calendly for group-wide scheduling.   [30:18] - If you need to leave a message, but don’t have time for a conversation, you can use slydial or slybroadcast to bypass a phone call and go straight to voicemail. Resources: WhatsAppGoogle DriveGoogle VoiceSidelineTrelloPodioBoomerangFollowUp.ccMetroFaxTurboScanSignEasyEvernoteZoomJingIFTTCalendlySlydialslybroadcast If you’re interested in learning more about our coaching, email me - [email protected]. We’d love to help you meet your goals in 2017. If investing and real estate is your dream, there is only one way you can make it a reality...JUST START!

This Week’s Episode: Joni and Kirk Yates take care of the books for my company.  Joni has an extensive career in administration, working with Fortune 500 and small companies.  Kirk has worked for Fortune 500 companies and has expertise in sales, management, the automotive aftermarket, mortgages, and banking.  Both Joni and Kirk work extensively in QuickBooks. Joni and Kirk are my favorite hires. If you are trying to scale your business, if you don’t keep accurate books, you can’t out-earn the problems that bad bookkeeping creates.  I’m guessing you don’t want the stress of books.  You didn’t start your real estate business to do bookkeeping.  We have a special offer we’d like to share with you.  For just $350 Joni and Kirk will set up your books, get you caught up for 2017 and get you headed in the right direction.  You have until April 4th to take advantage of this opportunity.  Regardless of the size of your business, it is $350 to get your books caught up.  Learn more at REIBooksOnline.com.   Connect with Joni and Kirk Yates: Website: REIBooksOnline.com   You’ll Learn: [07:10] - I tell the background story of how I met Joni and Kirk.   [10:41] - Joni explains what it was like to come on board with our company and help us get headed in the right direction with our books.   [11:50] - Joni and Kirk explain how bookkeeping for real estate is quite different than other businesses.   [16:09] - Because this is such a specialized bookkeeping situation, it’s important to make sure you get the right person that knows or can learn. [18:25] - As Joni and Kirk have grown, they can use their experiences to help with the process with other clients.   [20:24] - I ask Joni and Kirk to share what habits Mike and I have with our business that impact them the most.   [21:28] - I share some of the benefits of having someone keeping your books.  This gives you a lot more data and information to run your business better. [22:41] - Joni shares that she is in her client’s books on a daily basis to stay up on everything and make sure that everything is in order. I explain why this helps you with your business.   [28:04] - We have a special offer for you to have Joni and Kirk help you get your books under control. [33:48] - Kirk explains what can happen to a business if your books are not in order.   Resources: REIBooksOnline.com   If you’re interested in learning more about our coaching, email me - [email protected].  We’d love to help you meet your goals in 2017. If investing and real estate is your dream, there is only one way you can make it a reality...JUST START!

Are you looking for past episodes of this podcast?  You can go to Just Start Real Estate Archive 1 and/or Just Start Real Estate Archive 2 You can find these in iTunes, or whereever you listen to podcasts! Enjoy!!