Multifamily Legacy Podcast

This is the last one in the Six Pillars to Profits series. Pillar 6 is the Secrets to Being a Great Operator. How can you make phat money in deals to get some paydays? I'm going to give you some of my successful secret tips and tricks. If you do these things, you can get a lot of juice that's worth the squeeze! Topics on Today's Episode: Operations is where you go to make money; don't manage your own companies Do's and Don'ts: Questions to ask management companies to determine if they have systems and processes in place: How do they take tenant's money? How do they do ACH? What's the lease-up process? Is it written down? What's your training process? How do you train your employees? Is it online? Is it offline? Is it both? Do you require your manager and your maintenance person to live on the property? Or, do you want them off property? What accounting systems do they use? Is it Yardi? Is it Rent Manager? Is it AppFolio? What do you think the #1 thing is to generate profit or money at the property? Ask situational questions: "Tell me about a time…" Putting together a deal involves partnerships, structures, and knowing your operating agreement Communication Reporting/Accounting: Get reports of complete financials from your management company every month Management Styles: Avoid one-to-one relationship; use straight vertical line where different people in different situations deal directly with your property Don't be in a hurry when doing repairs, be patient; always look like you're doing something on the property - do little things that make a big difference Typical management company charges you 3% to 6% in fees Management companies do most of the heavy lifting in this business; look for their guidance and cost per door Links and Resources Mentioned: Multifamily Legacy Podcast Group on Facebook Kahuna Cashflow Calculator Yardi Rent Manager AppFolio Quotes: "Truly, the real profit is made in the operations. I personally believe that you shouldn't be managing your own companies." Corey Peterson "Communications happen directly from the management company to the person that needs to hear it. I believe that's the best way." Corey Peterson "We're in the people business. The people make the difference. You've got to have someone that's nice and kind, but also knows how to carry a stick and is not afraid to use it." Corey Peterson "We're never in a hurry when we're doing our repairs. We're always doing something on the property. Always making it a little bit better, always making it a little bit nicer." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Sometimes, it only takes one deal to become super wealthy in the multifamily space. Today, we're talking about Pillar 5 - The Secrets to Getting Your Deals Accepted, part of the Six Pillars to Profits series. How can you masterfully try to get your deals accepted? I share tips and tricks to get brokers to believe in your deals. I'm teaching you how to make sexy cashflow. Topics on Today's Episode: Broker Mentality: Most brokers are motivated by Hip Pocket National Bank; they're trying to make a paycheck, but work for free until you close Create relationships with brokers and migrate your way to their short list Notify brokers when you close a deal, and operate from a place of integrity Site Inspection: Do a fact-finding mission; go visit the dirt to and talk to property manager and maintenance person What to include in and how to submit a letter of intent (LOI) packet to broker Take time to build your team, and be willing to be a partner and share profits; don't get greedy Bios and credibility kit point out that you're a big deal; we're good at what we do Create version of Proof of Funds for broker # of Business vs. calendar days to use in Purchase and Sale Agreement (PSA) Don't rush into deals, speed kills; don't suffer from shiny object syndrome Purchaser's performance is conditioned upon purchase approval of required items and information Make sure they receive everything and sign off on it before starting inspection Get deals accepted by seeking price guidance from broker during Call for Offers Best and Final: I want this deal! Put finishing touches on deal via price and earnest money changes; be professional when providing additional information Links and Resources Mentioned: 064: The Six Pillars to Profits: Pillar 4 – The Secret of Getting Deal Flow 005: How to Get Your Offers Accepted By Brokers Kahuna Boardroom Kahuna Investments - Our Process Robert Kiyosaki Colors Quotes: "You don't have to do a crap ton of volume to be like super wealthy in multifamily investing. All you need is one deal." Corey Peterson "I'm teaching you how to make sexy cashflow." Corey Peterson "Most brokers are motivated by...Hip Pocket National Bank." Corey Peterson "I owe it to my investors to do this work. I do not rush into deals. You shouldn't, too. There's plenty of deals out there for us all." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

In the multifamily space, we don't have to go out much or spend a lot of money on marketing to find leads. Finding a deal can be difficult, but deal flow is all about getting brokers to know, like, and trust you. We're going to talk about how to get deal flow or potential deals into your system. Pillar 4 - Secrets to Getting Massive Deal Flow is a lot easier than most people realize. Topics on Today's Episode: Expect to have to look at hundreds of deals to find one great deal Find and get deals by building relationships with brokers Don't skip any steps when qualifying, verifying, and validating property details Take this to heart: Look at deals through your investor's eyes Money motivates brokers; they work for free until you close Brokers find buyers by putting listings on LoopNet (trash can of all deals) How to Get Massive Deal Flow Formula: Go to LoopNet.com Search for apartments to find brokers in specific areas Subscribe to every broker's list Get brokers to know you and put you on their short list Analyze apartment deals that brokers give you Call broker to explain why something is/isn't a deal Links and Resources Mentioned: Kahuna Cashflow Calculator 063: The Six Pillars to Profits: Pillar 3 – Secret to Analyzing Phat Deals LoopNet Quotes: "If you do not look at deals through your investor's eyes, you're doing it wrong. You cannot screw your money." Corey Peterson "I'm going to burst everybody's bubble...you've got to look at like at 100 deals...to find a great deal." Corey Peterson "One deal set me free for the rest of my life." Corey Peterson "Brokers want to help you, if they think you can close and get them a paycheck." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Today, I'm going to share some stories about what I did wrong to prevent you from making the same mistakes. Pillar 3 - Secret to Analyzing Phat Deals is often the point where most new investors fail. They make bad assumptions and become too aggressive. They over promise themselves and their investors. That's a recipe for failure, not success. It can get you into a lot of trouble. I know because I have failed time and time again, but I try to not make the same mistakes. Topics on Today's Episode: Pitfalls of broker packets with an offer memorandum (OM); peel back layers to find accurate information to analyze a deal and make assumptions Select software (Kahuna Cashflow Calculator) to underwrite and analyze deals Most people speed and drive numbers too fast; they overestimate what they can do - be conservative and learn to say, "No" Data and due diligence identify if it's a deal or not, don't buy based on emotions; utilize Do Not Exceed bids Rules of Thumb to Underwrite Properties on Per-door Basis: Raised salaries by $1,285; invest in your people Increased online advertising and promotion by $200 Budgeted $800-900 for upkeep and maintenance Office admin bumped up $150 Get an insurance agent to give you a quote Verify utilities by obtaining costs for the past three months Underwrite cost of taxes going up due to new purchase price CapEx: Determine reserves and make adjustments Underwrite with 25% down; amortize at 25 years, not 30 Never underwrite property with higher than 94% occupancy Always underwrite concessions at 3% Ultimate Underwiring Goal: Under promise, over deliver Links and Resources Mentioned: Kahuna CashflowCalculator Robert Kiyosaki (Author of Rich Dad Poor Dad) Quotes: "They over promise to the people that matter most - that's your investor, that's the money. When you do that, it's a recipe for failure." Corey Peterson "Your experience is the sum of two things: All your successes and, I think more importantly, all your failures." Corey Peterson "If you look at underwriting and analyzing deals from the right perspective, it will give you a key to be super successful." Corey Peterson "When we really, really want something, we try to make it work." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Let's continue our journey with the Six Pillars to Profits series. Today, I'm going to talk about Pillar 2 - Secret Language of Apartments. The multifamily world uses a different jargon than the single-family space. You need to be able to learn and understand the multifamily language to make you feel, sound, and appear credible and confident. So, I'm going to share with you some "magic" words that you need to use when talking to brokers, managers, and banks. Topics on Today's Episode: Being new and no BS; don't fake it until you make it Gross Scheduled Rents: Annual income of property where all rentable space was rented or collected Vacancy: Represents amount of income lost from unoccupied units Concession: Copying a unit (i.e., a 12-month lease with the first month free) Credit Loss: Non-paying tenant Residential Utility Billback System (RUBS): Income received from billing back your portion of water, sewer, or trash Total Income: Referred to as capital improvement, CapEx, rehab money, or cost per door to identify how much much money needs to be set aside for property CapEx Reserves: Money a bank requires to hold back for capital improvements Net Operating Income (NOI): Your income minus your expenses number or cap rate that determines value of property Pro Forma: Assumed forecasted or information presented in advance; financial statements of actual statement, if underlying assumptions hold true Operating Memorandum (OM): Sales brochure brokers prepare to sell property Acquisition Fee (Acfee): Fee that sponsors take for putting together a deal Call to Offers: Deadline date to make offers on a property Best in Final/Final at Best: You may not have the best and strongest offer, but you want to get through all the other offers Pricing Guidance: Information needed to get into the best in final Debt Coverage Ratio (DCR): Measure of cash flow available to pay current debt obligations; states net operating income as multiple of debt obligations due Deferred Maintenance: Dollar figure when owner or operator avoids regular upkeep of a property or it starts to need work Due Diligence: Inspection period of doing physical and financial inspections Letter of Intent (LOI): Included when submitting an offer for a property Make-readies: Rental unit that becomes vacant; it's a make-ready until it's cleaned up and becomes rent-ready Plays: Momentum Play: Stabilized property is taken to make micro repositionings or minor improvements Occupancy Play: Unstable property with a high vacancy percentage Repositioning Play: Low occupancy and a lot of rehab to bring property to a fresh, new standard Links and Resources Mentioned: Why the Rich Get Richer: The Secrets to Cash-Flowing Apartments Kahuna Cashflow Calculator Quotes: "When you're talking with brokers, with lenders, with banks, you want to appear and look confident, that you know your stuff." Corey Peterson "One of the easiest ways to make some additional income is to install and start a RUBS program. We do that on almost every property." Corey Peterson "What Wall Street loves is a nice steady rising income. If you can accomplish that and then also have no deferred maintenance at the property...that's called an easy button." Corey Peterson "When you master it, things really start to change. Brokers will start to look at you differently because you are becoming a master of the verbiage." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Don't believe everything that all those information gurus out there teach about multifamily real estate and investing. A lot of them start by showing you how to find a deal. I believe that's totally wrong and the worst place to start. The ability to raise capital is much more powerful, valuable, and vital to deals. This is the first episode of my six-part series called, The Six Pillars to Profits. Pillar 1 is Secrets to Raising Private Money. If you are able to raise capital, deals will find you. I'm going to teach you a different way to raise capital that has worked very well for me. Topics on Today's Episode: Corleone Method: If you will find money, deals will come find you; money is always patient and negotiates out of strength Money is made in the money by procuring capital at the right cost Avatars: People who have money, and who they are; they who have the money make all the rules Look for people who are looking for a solid return; do less volume Majority of people's wealth (i.e. dumb money) is in a 401(k) or self-directed IRA; most people don't know they can invest in real estate with their IRA Investors want exuberant returns via big risks and low expectations; people don't want to take big risks and hate the ups and downs of the stock market People like me know how to find great deals on properties that become little factories that write checks and spit out profits Always sell based on income; raise rents and keep expenses tight to create more income and value If you want to raise money, the first people to ask are your friends and family Create an opening "Who am I?" statement for different environments/audiences Selling the Story: Tell a story or have a conversation and end it with, "How's the market treating you?" Schedule a meeting and have them complete an accredited investor form Bring your Credibility Kit that has a high-end brochure describing your process 506(b) Rules: Raising money is all about relationships; make sure you serve that capital well because that money in return will serve you Links and Resources Mentioned: Kahuna Investments Kahuna Boardroom Cashflow HQ Raising Private Money Course Edward Jones The Godfather Quotes: "The ability to raise capital is so much more powerful, it's so much more valuable, and it's vital to deals. If you are able to raise capital, deals will come find you." Corey Peterson "I used to really think that the money was made in real estate. That's just not true. The true capital, the money is made in the money." Corey Peterson "There's more money out there than you'll ever know. The one thing I learned...is how much stupid money is out there, and it is searching for people like us." Corey Peterson "They will then become your friends. They'll give you money. They'll give you referrals. They'll give you their friend's friends. It's something that you should really just cherish." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Have you always had an interest and pull toward real estate? Want to know how to parlay that into passive cash flow? Want to be financially free? Are you intrigued by legacy wealth? Then, you've come to the right place! Today, my guest is Ed Lemus, one of my students who has experienced success. During his real estate journey, Ed became interested in our multifamily content. He attended the Kahuna Boardroom and listened to this podcast. As a result, he has done some amazing things. Topics on Today's Episode: Kahuna Boardroom focuses on raising capital, finding deals, and operations Finding capital isn't easy for most people; how Ed raised more than half a million Create and use a high-quality marketing packet to spark people's interest Never ask people for money, only ask them who they know; ask them to look at your information Share your property pitch and overall strategy; ease their concerns by scheduling a conference call to answer all their questions Follow-up on potential investors' capex; set up expectations - deliver on exactly what and how you said was going to happen Investors wait for a payment; if that happens, ask them for a referral Become the supplier of deals and grower of money; cash flows from people who can't make it work or grow to people who can Stock Market Roller Coaster Ride: Most people want something steady instead Who's an avatar? Be clear on who is a profile investor - not those looking for crazy returns, but those looking for consistent and solid returns Share the message and tell your story; "By the way…" Biggest Takeaway from Kahuna Boardroom: Find someone that you know and trust doing what you want to do; copy or partner with them Links and Resources Mentioned: Ed Lemus's Email Kahuna Boardroom Podio Zoom GoToMeeting The Slight Edge Why the Rich Get Richer Quotes: "I stalked you for a little while on your podcast and just started to immerse myself in the whole multifamily space and learn a little bit more about it." Ed Lemus "Rule #1 is never ask people for money. Only ask them who they know. In other words, ask them to look at your information." Corey Peterson "I always say the right people will come into your deals, and the wrong ones will repel themselves." Corey Peterson "Here I come with my cape and everything to solve the problem for them. It's really become where it makes me feel great, where it's more of a service that I'm providing." Ed Lemus Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Do you have the right mindset to push through fear? Step outside of your comfort zone? Take massive action to build the life of your dreams? Then, forget about getting a college education. Get your broker's license and become rich in real estate! Just like today's guest, Rod Khleif, who has the top ranked real estate podcast called, Lifetime Cashflow through Real Estate. Topics on Today's Episode: Psychology to Success: Success in anything is 80-90 percent your mindset and psychology, and only 10-15 percent of real estate information Logistics can cause you to crash and burn your cashflow portfolio Visualize to manifest what you want Goal Setting Process: Identify, clarify, implement, and achieve everything you want to do, be, or have: What you want What you want to learn Who you want to help Failure can be painful, but motivates you to never do something again I am…remain consistent with how you identify yourself Happiness comes from progress and growth, not the ultimate outcome Difference between success and fulfillment; focus on others rather than yourself Morning Routine: Take one minute every day to be grateful for what you already have and what you want Links and Resources Mentioned: Rod Khleif's Lifetime CashFlow through Real Estate Investing Podcast How to Create Lifetime Cashflow Through Multifamily Properties (text Rod to 41411 for free copy) Tony Robbins Jim Carrey Tells Oprah How He Visualized $10 Million Dollars How Walt Disney Took Influence From the 1964 World's Fair to Create Epcot Elon Musk Grant Cardone Zig Ziglar Dale Carnegie Tim Ferriss The Miracle Morning Book Quotes by Rod Khleif: "Success in anything is 80 to 90 percent your mindset and your psychology, and only 10 to 15 percent the real estate stuff we talk about on our podcast." "Everything starts with gratitude." "Don't underestimate the power of visualization." Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Today, my special guests are Cory Boatright and Sean Terry, who were two of my partners from the very beginning on the University Crossings deal. This is the last part for the series regarding University Crossings. We share what went wrong, what went right, and how we overcame obstacles that are often part of multifamily transactions. Topics on Today's Episode: Ups and downs of deal included asking for money from investors, stressful deadlines stressful, and people making excuses Learning curve on due diligence, occupancy, and other factors that affect loans Multifamily Investing Model: Deal must cash flow from point of acquisition Protect investor capital at all costs because of possible risk and intolerance involved in some deals Utilize Cash Flow Calculator to help analyze deals Property can look good on paper, but a site visit may change your outlook Fact-Finding Mission: Ask the right questions to determine a property's potential Deals are not driven by price, but potential NOI and cash flow Offer Process: Get lead, do due diligence, visit property, and submit Letter of Intent (LOI); costs more, but makes you more apt to make the deal happen Closing delayed for various reasons - occupancy rate, seller coma, financing, etc. Create and present a marketing package that excites investors about property Investor's Top Concerns: Is my money safe? How and when am I going to get my money back? Choose partners that you can trust and learn from; find commonality to find deals Links and Resources Mentioned: Coaching from Cory Boatright Real Estate Investing Profit Masters Sean Terry Kahuna Cashflow Calculator Quotes: "We took it (University Crossings) on together, and we kicked it in its butt. But, it wasn't without its ups and downs." Corey Peterson "Your (Corey) model is it has to cash flow right from the point of acquisition." Sean Terry "Protect investor capital at all costs." Cory Boatright "The only way you're going to increase occupancy is lower rents. If that's the model, that's not a good model." Sean Terry Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

What happens when you sign the dotted line and officially go under contract? That doesn't mean it's a done deal. You're not out of the woods yet because there's still a lot of moving parts to manage. Here's part 2 of 3 regarding my University Crossings deal. I share what went wrong, what went right, and how I overcame obstacles that are often part of multifamily transactions. Topics on Today's Episode: Receive required items/documents identified on Purchase and Sell Agreement (PSA)/Letter of Intent (LOI) from seller Seller's Coma: Seller is unmotivated to give you details due to poor record keeping or they're trying to hide something Establish site visit and physical inspection to rate/asses property's major systems Give all vendors the same instructions; ask them for a fair and do-not-exceed bid 45 calendar days for due diligence and another 45 calendar days to close Perform financial audit of property's current leases on file Engage a lender to get a loan for the property based on occupancy percentage; loan is in jeopardy and extension may be needed if percentage isn't maintained Owner should never try to negotiate with a broker or seller; let others talk for you Lack of communication between all parties involved causes problems and delays; request phone conversation with seller to offer clarification Concessions may be necessary, even if something is not your fault; you'll end up making that money and more back Lender isn't ready because they did not process the loan to close on the property, which put me at risk of losing money Links and Resources Mentioned: Freddie Mac Fannie Mae Quotes: "Our due diligence does not start until they have delivered it...we have to sign off and say that they have delivered all items." Corey Peterson "Do not think we're stupid. We want you to be fair. We want you to be upfront, and we don't want you to think that you're just going to get rich off of us." Corey Peterson "Negotiation - everybody goes in with a gun, but no one has any ammo." Corey Peterson "We had leverage at this point, and leverage, my friend, is very, very vital to being a good operator." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

What happens in deals? There's usually some bumps along the way. They don't go perfectly, but they usually go on to close. This is the first of a three-part series where I break down the details of what happened with my University Crossings deal. I share what went wrong, what went right, and how I overcame obstacles that are often part of multifamily transactions. Topics on Today's Episode: How to find a deal? Broker relationships What to Look For: Numbers, stable cash-flowing properties that need little work Set a Goal: Increase occupancy or/and raise rents Manage costs when spending money; seek higher than average maintenance Use Residential Utility Billback System (RUBS) to its full potential Reduce office admin costs to save significant money Underwriting: Key to finding good deals is that you must be willing to do the work Site Visit: What surrounds the property? Who's in the area? Is there much crime? Rookie investors make mistake of submitting offer before setting foot on property 90% of the game is to get brokers to know, like, and trust you Occupancy rates help determine financing options Do a CapEx budget (rehab money) per door Win bid by stacking/leveraging deals and submitting Letter of Intent (LOI) packet Ask broker for pricing guidance to get invited to "Best and Final" round Identify seller's hot buttons: Price, surity of close, etc.; call broker to get the price you need to use to be competitive and win the deal Avoid agreements via email and seller's purchase and sales contract; get them to sign your LOI to confirm that they agree to everything in your language My Challenge to You: Be in pursuit of both time and money via commercial and multifamily real estate; cash flow is the new sexy Links and Resources Mentioned: Kahuna Cashflow Calculator Freddie Mac Fannie Mae Quotes: "Underwriting: The key to finding good deals is you have to kiss a lot of frogs. You just got to be willing to do the work." Corey Peterson "We go to the property, and we do a site visit. Things can go from good to bad quickly." Corey Peterson "They're not willing to go visit the dirt. You have to be really willing to visit the dirt...before you actually make an offer." Corey Peterson "90% of the game is to get brokers to know, like, and trust you, and to be a part of your team." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

What's your story? Does it communicate a vision and inspire others toward greatness? Most successful investors follow the same path. They get to a point where they're ready to commit to something different. Take a risky leap, to reap the rewards! In this episode, I talk with Tamar Mar, who shares an incredible and unique story about how she started in multifamily investing. She enjoyed helping others grow their businesses, but knew she could start her own business. So, Tamar left the corporate world and now uses the tagline: I was really keen on becoming the CEO of my own dreams. Topics on Today's Episode: Commit to starting and planning a multifamily syndication business - not a hobby; share your goals, but don't let others bring you down Start small and build up confidence; don't necessarily need to land a big deal to grow at a reasonable rate and build off successes Trend in marketplace where multifamily, cash flow, and apartments is the new 'sexy'; this is both good to attract attention, but bad due to a lack of experience Don't spend money on advertising or waste time on marketing; get the most bang for your buck by building relationships and friendships - treat them well, be loyal No downtime or time for disappointment; only time to get back in the saddle, look at other deals, and put in a lot of effort - persevere despite exhaustion Underwriting has changed slightly to prepare for shifts in the industry due to rising interest rates and not being able to refinance Raise capital by talking to people and using under promise, over deliver concept Difficulty to raise rents, but not lose tenants; be flexible and transparent Communicate and learn from mistakes to know what to do differently in the future Hard to find property manager who cares about your property as much as you do; ask "tell me about a time…" when interviewing potential property managers Transitioning from single to multifamily to reach goals sooner and do what you want in life Links and Resources Mentioned: Investing for Life Podcast Marota Group Quotes: "There's a trend in the marketplace right now where multifamily and cash flow and apartments is the new 'sexy'." Corey Peterson "I was really keen on becoming the CEO of my own dreams." Tamar Mar "I've having a blast with what I'm doing. It's super fun." Tamar Mar "When they're successful, I'm successful. When I'm successful, they are. So, we just all help each other out." Tamar Mar Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

It doesn't matter whether you're looking for multifamily, apartment buildings, single-family, town homes, duplexes, or land deals. If you become good at finding discounted properties, you will quickly become a multi-millionaire. Wholesaling is the art of consistently finding discounted deals. Tom Krol should know. He's the "King of Wholesale" and teaches others how to be successful in the wholesaling business. Topics on Today's Episode: Wholesaling isn't complicated, it's easy; don't need to know about real estate Anyone can do wholesaling, just need focus, simple instructions, and clarity 3 Things to Choose From a Wholesale Deal: Speed, price, and convenience Coaching is to get someone to push you and help you gain confidence An overnight success is someone who work hard, persevered, and was determined to make it happen Instruction is key with wholesaling; results are your education Give back based on what you've done and learned to prevent others from making the same mistakes Be passionate about succeeding or die trying; when you want something badly, you'll do what it takes to make it happen 3 Elements of Belief: Trust coach/mentor, trust the program, and trust yourself Be open minded and intentional for things to come that will change your life Have a business that is servant to you, instead of a job that you serve - put a cap on your financial aspirations; is anyone happy with money and nothing to do? Links and Resources Mentioned: Wholesaling Inc. Wholesaling Inc. Podcast Todd Toback Rhinoceros Success by Scott Alexander Collective Genius Mastermind Sean Terry The Four Spiritual Laws of Prosperity by Edwene Gaines Robert Toru Kiyosaki Jason Medley Gary Keller Jim Rohn Quotes: "The first thing of any good deal is how to find a good one." Corey Peterson "Wholesaling is the art of consistently finding discounted deals." Tom Krol "What we lack in smarts and booksmarts, you make up for on sweat equity. That's the secret to everything - work hard." Tom Krol "To have a business that is a servant to you, instead of a job that you serve, the #1 way to create that is to put a cap on your financial aspirations." Tom Krol Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Being a realtor is a great way to make a living. But when you start out, you suffer from "commission breath" because you have to beg for a listing or buyer. Making sales is much easier when you're an investor. Wholesalers are overpaid realtors. You make more money because you can wholesale to other investors and list their fix-and-flips. Don't get stuck being a realtor. Today, my guest is Kris Ontiveros, a.k.a. Cashflow Kris. He started out as a realtor, and then became a real estate investor focusing on apartments. Kris co-hosts the Flippin Fridays/AZ Flip Guys show with Brayand Ponciano. They're two ordinary guys doing extraordinary things. Topics on Today's Episode: Realtors only get 3% of a deal - table scraps to be at someone's beck and call Current market stats look good, but numbers are trending in the wrong direction; list price to sale price is going down and days on the market are going up Such stats lead to future opportunities; it's going to be easier to raise money Paying too much for a property doesn't make financial sense; it's like a house of cards just waiting to tumble Kris is basically a fundraiser; deals just flow in without doing any marketing because his network simply hands him off-market deals Kris has done many deals with private lenders and returns their money; long-term financing a project leads to them being ready to fund his next deal Smile and dial, shake hands, and kiss a lot of babies to get to know capital; people give you money because they have a professional relationship with you Cash flows from people who can't handle it to people who can make it grow; money is always looking for a home and dealmakers When people ask: "How much is your minimum investment?" have a bold and brazen number in mind Never take someone's last dollar - they become a problem and a pain for you Trade up your money; everybody's climbing a ladder and looking at something, so climb as fast as you can Cash flow is the goal and the future of multifamily is bright; even if money from multifamily slows down, keep a foot in the door until you get enough cash flow Be careful because real estate is sexy, but lot of work - know what you're doing by mimicking or partnering with a pro Links and Resources Mentioned: Kris Ontiveros on Facebook Flippin Fridays Podcast #FlippinFridays Episode 72 - Talking with the One and Only Corey Peterson about Raising Money and Buying Apartment Complexes Nationwide!! Flipping Fridays Episode 40: With guest Corey Peterson with Kahuna Investments AZ Flip Guys on Facebook Kahuna Boardroom Brayand Ponciano on Instagram Than Merrill FortuneBuilders Dave Lindahl Edward Jones Jack Bosch Boiler Room Gene Guarino - Residential Assisted Living Academy My Life & 1,000 Houses by Mitch Stephen Quotes: "Real estate is so amazing. There are so many different ways to make money in this business. We know that we're just straight up fundraisers at this point." Kris Ontiveros "As long as I'm financially free, as long as the bills are being paid and there's checks coming in every single month, I'm going to be hppy." Kris Ontiveros "The goal is cash flow. That's what I want." Kris Ontiveros "There's going to be some blood in the streets. There's going to be some opportunity coming." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

When it comes to multifamily real estate and cash flow, Brayand Ponciano is all in - now. But he knows he made a mistake when he didn't listen to me five years ago about raising money, instead of fixing and flipping. Brayand learned his lesson and shares what he knows about everything related to real estate on the Flippin Fridays/AZ Flip Guys show with co-host Kris Ontiveros. Plus, there's still time to help some kids, including my son, experience a once-in-a-lifetime opportunity. Please consider donating to the Sendtheteam.com fundraiser, where funds will be used to send a youth football team, along with their coaches and chaperones, to Florida to play in the Tackle Football National Championship. Topics on Today's Episode: Don't judge a book by its cover because Brayand judged me based on my looks, not my knowledge; be authentic - make no apologies for who you are Brayand believes the value of the Kahuna Boardroom comes from the lessons I teach and the experienced people I include Pitching is Work: There's a way to do it, and there's a way not to do it Boardroom inspectors and property managers gave Brayand tips on how to renegotiate deals to save money Build relationships with vendors and contractors to get better deals Pros and cons of Section 8 (low-income) and C-class housing Brayand doesn't buy distressed properties, he buys properties from distressed owners who don't know how to manage them Automation is vital for property management; Brayand uses AppFolio and ACH Be strict/firm because if you give someone an inch, they're going to take a mile 2-Step Tenant Program: Don't f**k with my money; don't f**k with my property Management Tip 1: Treat people the way you would want to be treated Management Tip 2: Don't rely on people to know what you're thinking or how you want things done; document processes and procedures Links and Resources Mentioned: Brayand Ponciano on Instagram Flippin Fridays Podcast AZ Flip Guys on Facebook 016: Building Your Legacy From the Ground Up Kahuna Boardroom Why the Rich Get Richer - The Secrets to Cash-Flowing Apartments Sendtheteam.com Gary Vaynerchuk Jack Bosch Flip Houses Like Burgers: With No Money Or Credit Nasar El-Arabi Secret Knock AppFolio Automated Clearing House (ACH) Quotes: "Collecting money is the business of apartments." Corey Peterson "The one thing that I value more than anything in anybody is authenticity." Brayand Ponciano "One of the things that I love most about the Kahuna Boardroom is that it really emphasizes automation." Brayand Ponciano "It's all about filling the need for what people need." Brayand Ponciano Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Stop what you're doing because I have a big announcement! Would you like to help some kids, including my son, experience a once-in-a-lifetime opportunity? Kim Green, business manager for a youth football team, is doing a fundraiser to generate money to send these kids, along with their coaches and chaperones, to Florida to play in the Tackle Football National Championship. Now, let's get down to business. Today, my guest is Sterling White, who has produced an abundant amount of content focused on the multifamily industry. He remains consistent, even when someone "kicks him in the mouth" because they're not ready to sell! Topics on Today's Episode: Find deals by going off market and through direct sellers/decision makers Commercial brokers are doing the same work; just beat them to the punch Difficult to get accurate and complete financials; figure out income/expenses Outsource work and tasks; find freelancers/contractors via Upwork Direct mail and small gifts serve as a follow-up mechanism to engage decision makers; Sterling may send them a Rubik's Cube and say, "Let's figure this out." Easy Button: Sell for more money through concise financials and deferring Even if owners are ready to sell, it can be difficult to get under contract with them Provide value and education as part of follow-up process Sterling's tool, Syndication Pro, helps you facilitate and raise private money Make it simple for investors to access data; professionalism leads to more money Links and Resources Mentioned: SyndicationPro Sterling White BiggerPockets Sendtheteam.com Upwork IMS Merrill Lynch Quotes: "The biggest obstacle is getting through the gatekeeper, which often times is the property management company." Sterling White "I'll actually send a Rubik's Cube, and it will say, 'Hey, let's figure this out'." Sterling White "You want brokers to know you, like you, trust you, and become your friend." Corey Peterson "In the age of raising capital, it's all about perception. Perception is reality." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

How can some of the worst years of your life be when you manage hundreds of properties in colorful Colorado? It's because you have to deal with tons of different tenants (and their kids and dogs), collect rents...it was a nightmare for Rondi Lambeth. So, now, he focuses on multifamily apartment complexes, which are easier to handle. Rondi is the founder of Fortress Credit Professionals and a real estate investor. He makes money in the credit repair business and then invests about 70% in multifamily properties. Topics on Today's Episode: Rondi has a rags to riches story - going from living in a home without electricity or water to buying his first home when he was 18 Single-family properties are sexy, but a lot of work Raising capital involves rules and relationships; there's more money than you know about out there and it gets easier to get it thanks to believers Mentors make a difference and help you reprogram yourself to be successful Asking for capital doesn't involve selling - only offers opportunities Stay Broke: When you have enough money to do another deal, spend it all; keeps you hungry Be smart, don't pay taxes; if you do want the government wants you to do (be wealthy), then you don't have to pay taxes Owners make the big decisions and manage the people who manage the people It's much easier to become wealthy if you have good credit; banks will throw money at you 300-850 is the FICO range; 300 means 30% and 850 means 85% chance of bank being paid back Regardless of what's on your credit file, anything can be removed from it Personal Life: Pay off credits cards in full every month; Business Side: Leverage credit card debt responsibly based on cash flow Differences between Corey's business and a real estate investment trust (REIT) Links and Resources Mentioned: Rondi Lambeth Rondi Lambeth on Facebook Rondi Lambeth on Twitter Rondi Lambeth on LinkedIn Rondi Lambeth on Instagram Fortress Credit Professionals Rondi Lambeth on Brad Lea's Podcast Grant Cardone The Richest Man in Babylon Jared Kushner Paid No Federal Income Tax for Years FICO Dave Ramsey Warren Buffett Dairy Queen Quotes: "It's so much easier to become wealthy with good credit." Rondi Lambeth "I don't know why anyone would do single family. It's sexy. I don't care about sex anymore. I'm lazy. I don't want to do all that work." Rondi Lambeth "The moment you have enough money to go do another deal, spend it all because then it keeps you hungry." Rondi Lambeth "They call it cash flow for a reason. It flows out of people's hands that can't handle it, and it flows into people's hands that know how to make it grow." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

I'm going to share some pain stories to stress the importance of structuring deals and having great people surround you. You can make multi-million-dollar deals, just like me. But I must admit that deals do not always go smoothly. After all, this is real estate, and anything can happen. So, you need to have a great legal team, which can make or break you in this business. Topics on Today's Episode: Who should be on your legal team? What should they do? Don't be billed by the hour, set up fixed pricing Leverage: You have it, or you don't Value of history of closing You can't control how others (i.e. lenders) work and affect your deals; they work at their own speed and don't care about your contract University Crossings Deal: Number of leases required for 90% occupancy not reached for the lender; seller caused harm, extensions/expenses were needed Catalina Village Deal: Lenders can mess up deals and delay the loan process When things like this happen, cover your bases Puppet Master: I'm in my cubby hole, unless a grenade needs to be dropped and crap needs to get done I'm extraordinary at finding the right people; my team pulls together to complete deals and make me look good Quotes: "Legal teams can make or break you in the business." Corey Peterson "In this business - it's real estate - anything can happen." Corey Peterson "When things like this happen, you've got to cover your bases." Corey Peterson "The only thing that I would say I am extraordinary at is that I know how to find the right people." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Do you believe in yourself? What matters most to you? Money? A job? Car? There's two things that most of us crave in life. One is time, and the other is money. But what really matters is, life. I couldn't have imagined what my life is like today. I started from nothing and went to a place where I make an extreme amount of money. I've tried to keep myself as grounded as possible, in family, friends, and things. But for so much of my life, I doubted myself. I never thought I was worthy of anything or anyone. You may be doubting yourself. That's natural. It happens. Don't be afraid of it. The trick is that you've got to move away from self-doubt and limiting beliefs. Topics on Today's Episode: Feed your brain and mind to grow; read books and listen to others Once you get to the point where you start to know who you are, then accept it Don't compare yourself to others to only let self-doubt creep back into your life Stay true to yourself; can be hard to do because of social media makes it easy to be someone that you're not Have dreams, goals, and hopes, but don't be common; be extraordinary Do you suffer from the "what-will-people-think" button? Make no apologies - freedom that comes with this mindset lets you be authentic; although sometimes in life, you have to play the part, but remain true to yourself Do people like, know, and trust you? You will attract the right people and repel everybody else You don't need to be the sharpest tool in the shed, but know how to find sharp people; you don't have to be the master of all things Toot your own horn, but don't brag; don't be ashamed of making money and telling the story of your company's success Do you have to feel important, but it's easy to feel unimportant? Find and focus on your uniqueness No company will ever pay you what you're worth, so choose to be your own boss and start a company; real estate requires the least amount of time Copy your way to success, but also find mentors and ask for help to avoid mistakes Tell yourself every day that you can be or do something; don't ever quit because quitters never win Links and Resources Mentioned: Kahuna Wealth Builders Boardroom I Can Only Imagine Tony Robbins Zig Ziglar How to Win Friends and Influence People Quotes: "Start believing you can. Start telling yourself each and every day that you can because, eventually, you will. Don't ever, ever quit." Corey Peterson "I'm just me. Frankly, what you see is what you get." Corey Peterson "I have dreams, goals, and hopes. I don't want to be common. I want to be extraordinary." Corey Peterson "Your company is in business to make money so you don't ever have to be ashamed of making money and telling the story of your company's success." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Being successful is a choice. If you're just doing it for the money, it's not a big enough reason why. You've got to do it because you enjoy or like the real estate process. It's got to be a passion. On today's episode, I talk about raising private money and how a lot of people do it the wrong way. Who is going to give you the money at the right cost? When I talk about raising private money, the goal is, "How do you attract capital, people who have money? How do they give it to you? How much does it cost?" Topics on Today's Episode: Cost of capital is a big deal; take care of your capital, make it money, make it grow, and you will get lots of people to give you lots of money Private Money Ponds Big Fish Pond: Where all the big fish are located; a big whale - someone who has lots of money, are aggressive, but never shows up Real Estate Investors Pond: Approach other real estate investors who are making lots of money; pay a Six-and-Six (6% payer and 6% backend pay) Consistency of the return makes the most sense; good financial advisors give you a range from 6% to 8% Pond or avatar that works well for me is the multifamily space, where there's trillions of dollars; I crush the stock market because I offer a better return Most people have a 401K to store their retirement money; at a certain age, they can transfer some of their money to an IRA Most people spend their whole life saving for retirement; stock market may be ok to grow your wealth, but very bad at creating an income stream Invest in things that can get you paid: Certificate of Deposit (CD) makes less than 1%, yet lots of retired people have their money in them Bonds: You can have municipal or corporate bonds; bonds pay between 4% to 5% Blue-Chip Stocks: Every retired person has a fear of running out of money; you save money, but it's not earning enough income Every quarter, monthly profit from rent checks is distributed to our capital; investors get 6% annually, which is $1,500 a quarter As rents raise, the property becomes more profitable and affects the value; maximize operations, so when you sell, you create additional money for investors Links and Resources Mentioned: Why the Rich Get Richer book Raising Private Money Course Kahuna Wealth Builders Boardroom Collective Genius Mastermind Quotes: "The truth is it's just a choice. Being successful is a choice." Corey Peterson "I enjoy the sport of real estate, the sport of it. I want to get you there because it's a great, great lifestyle." Corey Peterson "I think what I offer investors is sexy as hell. The reason I know this is because I'm consistent as hell." Corey Peterson "When I compete against the stock market, which the majority of people that are investing are in the stock market, I can crush it. I really can." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

I've got some golden nuggets of information for you when it comes to operations - how to do things, what to expect, and how to make money. I became a multimillionaire by doing multifamily homes. I have lots of cash flow that shows up every month because of multifamily investments. The multifamily gain has been a blessing. I get to live a lifestyle that most will never experience. Do you want to get out of the rat race? I've made a good living flipping, selling, and wholesaling single-family homes, but I created a lifestyle by doing multifamily apartments. Topics on Today's Episode: When you buy a multifamily property, open 5 bank accounts: 1) Operating, 2) Capital improvement, 3) Security deposits, 4) Escrow, and 5) Owner distribution Believe in budgeting for profit; overdo or outperform your budget to have more money and profitability Move operating money or capex to the side, and let your management company know how much money you're setting aside for other projects Dictate what's going on and hold your management company accountable; know what's going on and what's important - information and knowledge is power Nugget 2: For student housing, get pre-leases early; overbook leases, just like the airlines, to make up for those tenants who leave Believe that 100% capacity is achievable and sustainable; start a waiting list and get potential tenants to put a deposit down Recognize and pay staff to develop a positive and motivational culture Sometimes people don't believe you or you may make mistakes; don't sweat it, always stay positive, and learn from others Links and Resources Mentioned: Raising Private Money Course Multifamily Legacy Podcast Facebook page Dave Ramsey Quotes: "Everybody, write this down or ingrain it in your mind that you want to budge for your profitability." Corey Peterson "We believe in budgeting for profit." Corey Peterson "Just always remember that you dictate what's going to go on, and if a management company or someone else doesn't get that, then maybe they're not the right one." Corey Peterson "You can easily see what's going on, and that's important. Information and knowledge is power." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Do you store your wealth in IRAs? Did you know that you can use that money to invest in real estate? Want to learn all about private money in the self-directed space? If you need cash, you need to go where the money is available to create long-term wealth. Today, my guest is Edwin Kelly, founder and CEO of Specialized IRA Services and Specialized Trust Company, which provide self-directed retirement accounts. Edwin describes how to create a fortune and build a real estate empire using your or someone else's IRA. Topics on Today's Episode: In 2017, $24.7 trillion was inside retirement accounts, and in 2018, it was $25.3 trillion; number increases because of new flow of funds into retirement plans Self-Directed: You have a retirement account that allows you to invest in anything that the government allows you to invest in $500 billion in retirement accounts is self-directed; small amount because most people are not aware of what they can do with their money - options are available 172 million Americans have retirement accounts, but only 1% has money set aside that they can actually invest; self-directing changes it from 1% to 70% $1 trillion is expected to come into self-directed accounts in the next decade; people will be looking for investment opportunities that appeal to them Stock market does not generate predictable and consistent income, but real estate is an alternative and the Holy Grail to make such income People look for alternatives; view stock market as not viable standalone option 5 in 100 Americans were financially secure by age 65; 95% failed to create financial wealth or security Investment uncertainty, fees, volatility, and taxes affect wealth creation Record lows follow record highs in the stock market; people become emotional and don't understand the market or make rational decisions - buy high, sell low Create Wealth: Eliminate taxes, fees, commissions, and uncertainty Is using IRA funds for real estate investments illegal or not? IRS sets restrictions Incorporate private money as part of investment portfolio and capital structure 3 Steps to Success: Open an account, deposit money in the account, and direct money into an investment Links and Resources Mentioned: Specialized IRA Services A Foolish Take: What goes down must come up for the market IRS IRA FAQs Merrill Lynch Edward Jones Chase Quotes: "If you're looking to raise money, you've got to go where the money is." Edwin Kelly "Self-directed is where you have a retirement account (that) allows you to invest in anything that the government allows you to invest in." Edwin Kelly "Most Americans don't have a lot of discretionary income or money sitting around." Edwin Kelly "People just don't trust the stock market because they don't understand it." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Let's talk about rehabbing because most people get it wrong. How does it work and relate to work processes for your properties? What does it look like? What should you do? You don't want your property to look like a construction zone. Some believe the correct way is to do all improvements and repairs at the same time. The right way is to make the rehab process gradual to show that you care and manage tenants' expectations. Tenants expect rent to go up every year, and we never disappoint them by doing clean, nice, consistent A-class management. You have to earn the right to charge more. Topics on Today's Episode: First thing done at properties is to change the lighting; take out ugly ones and replace with bright lights for people to notice before and after difference Important for managers and maintenance to know people in the "community" and how they perceive where they live Be methodical when transitioning a property; constantly improve assets Raising rents can just mean having a good, trained salesperson If renting apartments, aim for a 65% renewal rate; renewals make you money Spend time and money cleaning up or putting away cables and wires Do as many improvements and repairs in-house to be efficient and save money Best form of flattery is when tenants find your next tenants through referrals Manage properties up; up rents, credit scores, standards, and improvements Keep tenants' home life happy, and they will pay you a lot of money Links and Resources Mentioned: Multifamily Legacy Podcast on Facebook Quotes: "You should never want your property to look like a construction zone." - Corey Peterson "You have to earn the right to charge more." - Corey Peterson "We're in the people business where people live...their home" - Corey Peterson "You want to be very methodical in how you're transitioning your property." - Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Today, my guest is Michael Blank, Apartment Building Investing podcast host and coach. He realized that it doesn't matter how much money he has in the bank or his salary. It's all about highly leveraged passive income. Michael was hook, line, and sinker in the search for financial freedom. He put his nose to the ground, started some single-family and multifamily flips, and learned how to raise money. Now, he shares his knowledge about apartment buildings with others. Topics on Today's Episode: Michael settled on multifamily because there's always something to worry about and you can't control value with single-family properties People think they don't have the experience and cash needed to do multifamily, but all that's not necessary - can overcome both quickly Real estate is the vehicle, but it's about building cash flow and legacy wealth Multifamily is a different language; so there's no reason to not start now Educate yourself and build a team to appear as an experienced investor Get started with multifamily through experience, education, and raising money Michael has blazed a trail that works and believes in the power of mentorship Most people who have become financially free, after a state of confusion, they give back and serve others Blueprint for financial freedom is in Financial Freedom with Real Estate Investing; at the heart of it is your first deal Believe in yourself and take action; make a decision that enough is enough Focus on your first deal - whether it is big or small - to start cash flow Education Program: Find and do a deal that is meaningful and achievable; phase 2 is to analyze deals, form a team, and meet potential investors Only takes 1-2 years to replace your W-2 job; may mean just 1 deal a year Links and Resources Mentioned: Michael Blank Apartment Building Investing Podcast Financial Freedom with Real Estate Investing Rich Dad Poor Dad David Lindahl Tony Robbins Quotes: "It doesn't matter how much money I have in the bank, what my salary is. It's all about passive income." Michael Blank "I was hook, line, and sinker in the search for financial freedom." Michael Blank "Multifamily - it's a whole different language." Corey Peterson "You've blazed a trail that works, and the power of mentorship is important." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Have you ever failed at anything? If you have, that failure may actually point you in the right direction and encourage you to take risks that payoff. After failing at college, Tom Cafarella thought about what he wanted to do - earn enough passive income to not have to work. He has built up a passive income portfolio to where he does not have to work much. However, it turns out that he loves to work and puts in 80-90 hours each week because he enjoys real estate so much. Tom had strong mentors in his life to show him the way to make his dream of passive income come true. While growing up, the only person he knew who had a decent amount of money was his grandfather, who worked minimum wage jobs his whole life. But the one thing he did do was buy multifamily real estate in and around the Boston area. He was the only person Tom knew that really didn't have to work that hard. Tom decided to follow in his grandfather's footsteps. He decided to go after it because he always wanted to be a passive income investor and buy multifamily properties. Topics on Today's Episode: When starting a business, you've got to be prepared to get your teeth kicked in - doesn't matter who you are, how smart you are, or how hard you work Find a mentor because you'll get kicked in the teeth less, if you have somebody who's already been through the fight Tom has multiple streams of income, and every single one has been taught to him by somebody Right now, there's a ton of money being made on the fix-and-flip side of the real estate business; things change, so even out your cash flow and be nimble When most successful entrepreneurs use a system that works, just follow it and model success; don't try to recreate the wheel To survive when things aren't working, find a new plan and shift gears; what's the fastest way to cash? Prime capital to deploy, buy strategically based on cash flow and model, and have infrastructure in place to efficiently make money when change happens People who are not seasoned operators overpay, and a tweak in the interest rates changes a whole paradigm for a lot of people Everybody was buying with crazy loans, and nobody was renting, so rents decreased; prices are too high, but there's no good alternative, if they start to fall Tom is doing development because they're brand new and easier to manage Tom's private money comes from a lot of different sources: Levering out personal assets, owning rental properties, refinancing, and utilizing average individuals It's harder to raise capital in the beginning because people want to see a track record; once you have one, it becomes much easier to point to your successes Links and Resources Mentioned: Tom Cafarella on YouTube Tom Cafarella Webinar Real Estate Mogul Podcast David Lindahl Brett Tanner Mike Hambright Quotes: "I'm a pretty entrepreneurial person, very entrepreneurial. It (college) was kind of just like trying to fit a square peg in a round hole type of thing, and I wanted to get into real estate." Tom Cafarella "If you can model what other successful people do, it gets you there so much faster." Corey Peterson "I think that anybody who's in real estate is very fortunate because most professions, people get up, they hate what they do, but real estate is truly fun." Tom Cafarella "You'll get kicked in the teeth less, if you have somebody who's already been through the fight themselves." Tom Cafarella Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

How can you take relationships to the next level for them to enhance your money-making capabilities in life and business? Today, my guests are Matt and Greg Sneyd, who I have known for about 10 years. They are big-time investors who taught me about the wholesaling business. Now, I'm teaching them a few things about apartments. Matt and Greg got into rehabbing, wholesaling, high-end remodeling, and acquiring rental properties. Then, they started to get into new construction. Now, Matt and Greg are phasing out of construction to take on some development and land entitlement. They're converting all their active money into long-term money and long-term wealth. Topics on Today's Episode: You meet a lot of people, but you click with very few; you need to have the same mindset and have fun - find good fits to go above and beyond Matt and Greg make a successful father-and-son duo, but getting into business with family often turns sour; each has certain strengths Turning your wheels and not getting traction? Do things the easy way through life hacking and figuring things out - take what the market's giving you If a business model isn't working, figure out what else you can do; talk to people in your market to see what's going on to make shifts at different points Add a zero to your profit; most people in the flip business are trying to get $30,000 as their profit - what if you add a zero and make $300,000 on a deal? Process of finding a good asset, operating, and making some cash flow; when you incubate it for five years, you keep growing Multifamily and Relationships: There's enough spoils to make you money, to make me money; we all get paid, have a good time, and share the workload OPM: Finding private money is the real bread and butter in the real estate/syndication business; also talk to people who believe, like, and trust you Have integrity and do what you say you're going to do; always pay back your private lenders - take care of the money and the money takes care of you Communicate with investors and lenders; offer full disclosure and documentation People think that you have to buy run-down properties to make money in the multifamily world, that's really not true; you're buying a property that's occupied Power of Closing and Transacting: Brokers call you up about another deal from a different seller: "It's a lot like the deal you just bought. We want you in the deal." Write off over $3 million - accelerated appreciation; when you sell, you pay capital gains tax but end up paying a lot less tax or roll it over and defer that tax Make money from the day you buy a property, and it can only go up; tenants expect rents to go up - don't disappoint them It's just Monopoly; trade out some houses for some commercial, and then trade some commercial for some bigger commercial Links and Resources Mentioned: Greg Sneyd email Matt Sneyd email The Muve Group Businesses Need Financial Guidance Now More than Ever Hawkeye Towers Collective Genius Mastermind Jack Bosch Sean Terry Cory Boatright Than Merrill Greg Clement Jeff Watson Quotes: "You go to a lot of seminars, and you meet a lot of people. But very few of them you actually really click with." Greg Sneyd "If you're not sharing your successes or able to talk to people about it and they have similar successes, it doesn't jive all the time, it kind of feels lonely." Matt Sneyd "Everything has got to be in alignment. Our relationship, it was the right fit. You have to be finding these good fits because the only way that you are going to really go above and beyond is to do it with other people that you fit well with." Greg Sneyd "I tagged you guys as farther down the road than I was, so I was like, 'I'm just going to grab onto their coattails and see what they know'." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Do you know about cost segregation studies and how they apply to new tax laws? There are exciting changes regarding shorter-life assets that will have a big impact for investors. Immediate expensing will be a boon for real estate. It offsets income made and all other income, then it carries forward indefinitely. However, most business owners hate accounting. It gets in the way and is a distraction from what they should be doing. That's why there is Duckett Ladd. Today, my guest is Bill Ladd, a CPA and co-owner of the full-service Duckett Ladd firm that specializes in real estate. He spends a lot of time on Section 42 properties, which features a low-income credit that incentivizes developers to build in depressed communities. But a lot of regulations and rules go along with such development. Even so, Duckett Ladd decided to zero in on this market, own that space, and add value for people. Topics on Today's Episode: Consult a tax advisor about passive income; there's all kinds of ways the IRS tries to trip you up Tax forms now have limited ability to take net operating losses, which impacts offsetting taxes For every property I own, a cost segregation study is a standard practice Quarterly meetings with your tax advisor should be mandatory; get together and hold each other accountable Good and bad aspects of 1031 properties - do the numbers work? Do they lead to abandoned income and limited ability to defer entirety of gain? Partnerships: Find the right fit, make sure to communicate, and be on the same page; adjust your business model as necessary I made a financial commitment that I would have clean and perfect books on all accounts, and Duckett Ladd has made that possible Every company needs a financial component and should make it a priority from the start; accounting is the language of business, yet is underutilized Links and Resources Mentioned: Duckett Ladd Duckett Ladd on Facebook Duckett Ladd on Instagram Contact Duckett Ladd at (417) 883-6590 Quotes: "I cut my teeth very early on in the multifamily space and really spend a lot of time on Section 42 properties." Bill Ladd "As I've kind of grown up in my career and watched other people, it's really fun to watch because you see certain people that just have it figured out." Bill Ladd "There's all kinds of ways the IRS tries to trip you up." Bill Ladd "I don't think we even understand the depth of how much this is going to help when it comes to generating cash flow by saving on taxes." Bill Ladd Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Today, my guest is RJ Bates of Titanium Investments. RJ started his career at Pizza Hut as a delivery driver. He worked his way up from shift manager to assistant manager, and then got his own restaurant. RJ didn't know what he wanted to do in his life and got stuck in a job. He wasn't happy, and it wasn't what he was meant to do with his life. He was a slave to the restaurant business. But he learned a lot of business skills and will never regret the time he spent with Pizza Hut. After he quit at Pizza Hut, he took a minimum-wage job at a golf course and cashed in his 401k from Pizza Hut to buy his first rental property that cash flows like no other. Now, RJ lives the life he wants and is in control of his own destiny! Topics on Today's Episode: Being an entrepreneur and do what you need to do - fake it, till you make it Becoming a Wholesaler: Purchased a house, did the work, and flipped it; but learned that being a wholesaler was the way to go and make money Going from contracting to real estate investing; conquering the world, one residence at a time What it takes to be successful is a sure will of determination; making a commitment to do something Work on and research your craft, if you have questions, go look it up; reach out to others for guidance, and make help reciprocal Understand your core vision and live your life according to it; follow what you want personally and professionally An entrepreneurial environment is exciting and feels like anything is possible; determine what's important and serves you Be authentic and don't try to be the smartest person in the room; be around like-minded people who are more successful than you Titanium: RJ and Cassi's favorite number are 22, and titanium is the 22nd element on the periodic table; building a brand using "Titanium" Failure is not an option, but a way to success; you learn a lot about what you should've done for systems and processes when going into a new market Focus on creating and diversifying passive income; Titanium does wholesale and rehab to make funds to keep the engine going to buy rentals Going through tough times and struggling; change your journey through action, dedication, and tenacity Links and Resources Mentioned: RJ Bates on Facebook Titanium Investments The Titanium Vault podcast A Successful Business is a Marriage with Communication - Cassi DeHaas Visual Assets Elevate Your Status - Daniel Woods Flipnerd BiggerPockets Investor Fuel Gary Harper Tucker Hughes Marino Quotes: "I actually cashed in my 401k money from Pizza Hut and bought my first property that I still own today. It's a rental property and it cash flows like no other." RJ Bates "If you have a good deal, it'll sell itself." RJ Bates "We've tried to conquer the world, one residence at a time." RJ Bates Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Today, my guest is Larry Goins, who has always thought about wanting to do business. Even when he was a kid, he used to go down to the sawmill and get stakes. Then, he would resell them at the flea market as tomato stakes. Then, he moved on to painting cars, lawn care, and reading books about real estate. Larry eventually got real estate and contractor licenses. He did his very first depot in 1986, more than 30 years ago. There's a lot of people who have not been investing that long. Larry has seen more market cycles than most can ever dream of. Topics on Today's Episode: Technology is the biggest change Larry has witnessed in real estate Fix and flip is a bit of a trap because you get used to the quick profits;what happens is you get lost and let all the wrong things become a priority in your life Being a Hustler: Having a good work ethic, mentality of "you cannot outwork me" Real estate is hot right now; even though real estate is like this, it will eventually go like this - business is cyclical Why am I doing this? I'm supposed to be doing this, to not have to do this Larry came to the realization that he has to start taking care of himself, his family; there's more than just work, but work is his passion Larry is a firm believer in education, but one thing nobody ever taught him was you've got to have a personal vision; money can't be a part of it Larry has always focused on business and has had a lot of acquaintances, but it's hard for others to get him; allow yourself to be vulnerable and open up People will remember if you're able to give them a little something that could change their life generationally Analogy of Business: When you first start, it's a lot of work for you; get some staff to delegate some of the work; don't be a bottleneck in your business Larry loves real estate because there's so many ways to do it; there's so many different types, models, and sources with real estate Take action; success doesn't happen overnight, there's short-term pain for long-term gain Priorities change and you want to level-up your game; find smart guys with money and find them some deals Be straightforward and honest with people; build rapport and get them to like, know, and trust you Links and Resources Mentioned: Larry Goins Larry Goins on Facebook (videos) Larry Goins' HUD Homes Half Off book Brain Pick a Pro podcast Brag Radio Robert Allen Al Lowry Wade Cook The One Thing Shaun McCloskey Ron Phillips Corey Peterson on Facebook Nido Qubein Jay Conner Quotes: "The most important piece of real estate you will ever you will ever invest in is the six inches between your ears." Larry Goins "(MLS book) That's just like the dark days of real estate when it was the wild, wild west." Corey Peterson "I have always had a really, really good work ethic. I get up early, I stay late, nobody has ever called me lazy. Even having employees at the office, I've always had the mentality of 'you cannot outwork me', right?" Larry Goins "Why am I doing this? I'm supposed to be doing this, to not have to do this anymore." Larry Goins Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Today, my guest is my business partner, Cory Boatright. In 2005-2006, Cory became interested in short sales due to the economic crash. He knew that there was an opportunity because people couldn't afford their house, bought too much house, didn't have enough money, and were going to lose their house. Cory figured out a way to capitalize on the short sale market and built software that, at the time, specialized in short sales. Then, thyroid cancer changed his perspective and life. Cory decided that he didn't want to do short sales anymore. He closed his loss mitigation company and sold the remaining portion of his software company. Cory started focusing on bigger things, such as life and what's most important. He spent time with his mom and other people he cared about. Cory started looking at the low-hanging fruit in real estate - wholesaling. Topics on Today's Episode: Tax Benefits: Ability to save, different strategies, self-directed IRA It's all based on numbers; reposition the property, make a profit Raising Other People's Money (OPM) can be difficult; don't lose faith Not as simple as asking your friends for money; they are in your circle and already doing big things, so they are clobbered with opportunities daily Don't ask somebody for something, bring them something that they wouldn't have otherwise without your involvement; leverage relationships Rather than thinking about how to do it faster and better, put on your private money hat and have a conversation about something that helps someone People pull out of deals, don't take it personally; feed off energy of your next call When meeting someone in person, get centered to create some space between something that happened and whatever's getting ready to happen When raising private money, real estate people are the wrong avatar; they always want equity, a piece of the deal Best places to find money are with working professionals People cannot stomach the ups and downs of the stock market; go for a smoking deal that gives you a solid return Wholesaler's challenge is their whole mentality is hot potato; get rid of the potato, slow down, and change your mindset Raising private money is about building a relationship with a solid foundation; the deal will stand on its own Newer investors often become your best advocates; no one ever tells you how much they have available and there's more money than you could imagine Apply your specialized knowledge; raise private money because people giving private money don't typically have that knowledge and don't want to have it Listen and people will tell you what they want Tell a story about why you think it's a good deal Objections for capital include not offering enough return Some things you do naturally, others are psychological things you need to be aware of; what goes on during a conversation is powerful, so protect the capital Only question at the forefront of people's brain is, "Am I going to lose or what am I going to get out of it?" Believe in yourself and what you're capable of doing; overcome invisible beliefs to step into the realm of what's possible Money is a big reason for stress; if you don't have to worry about money, then the stress is not there and you get to do what you want Multifamily provides freedom of time and freedom to build a life that you always wanted; paradise is possible As a wholesale, you are transactional, nut you also need to step out and start building relationships; they could be investors in your deals To raise private money, do not assume that you think the person you're talking to is only going to invest X dollars; talk to them as if they have $1 million to invest Links and Resources Mentioned: Coaching from Cory Boatright Real Estate Investing Profit Masters Corey Peterson on YouTube Kahuna Cashflow Calculator Kahuna Boardroom Collective Genius Mastermind How To Win Friends And Influence People Covert Persuasion Pitch Anything Quotes: "Wholesaling is the low hanging fruit in real estate." Cory Boatright "I'm excited about this journey on apartments." Cory Boatright "The reason that these people are in your circle is because they're already doing big things, they're already being clobbered with the opportunity daily." Cory Boatright "It is slowing down, it is building the relationships that are driven around people that are interested in doing deals and private money, and building those relationships." Cory Boatright Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Most people work their entire lives, except Bruce Wayne. He was in control, had nice cars, and a house on the beach. His phone was not ringing because he had his stuff together. I'm coming to you from Kauai, which is my favorite island. About 17 years ago, I came to the "Bruce Wayne" house that I'm sitting in right now. He's not Batman, but he was loaded and living what I consider the perfect life because he had time and money. He owned apartments, and that's how my story began. Bruce was not a great mentor, but he gave me the perfect vision - I am going to own this house some day. And I may need to work with a broker to get it! Topics on Today's Episode: Have a vision, cultivate it, pursue it, and actively start living out the destiny Dealing with brokers: Their job is to get the seller a buyer; sometimes they come off as very pushy, aggressive, and intimidating Don't let a broker steer you in their direction; have extreme confidence to start changing the dialogue and challenge the broker's crazy statements Brokers often give you information that means nothing; you should just care about how a property underwrites and its potential Create a structured process for fact-finding missions/site visits Ask questions and interview those who understand a property - people running it Splinters happen; a side conversation that they weren't telling you gets spilled Everybody's watching you and making their own judgments on can you buy or not, you have operational excellence, and do you know what you're doing Don't do most of the talking, ask the questions and then be quiet Unit Refresh Process: Always look at the worst units and floor plans; get a good sense of what the units look and feel like, and how much work is needed Know the cost on stuff and have an idea of what the market is already bringing Become friends with the brokers to build trust Negotiating is rough and feelings can get hurt, unless you are with professionals Throw in a low-ball offer; you still have to play the game Respect the brokers, but they should also respect you; demonstrate your ability to call things out and know your process Links and Resources Mentioned: Corey Peterson on YouTube Kahuna Cashflow Calculator Kahuna Boardroom Quotes: "They have a job...get the seller a buyer, and sometimes they come off very pushy, sometimes they come off very aggressive, and they can be quite intimidating." Corey Peterson "Brokers are really good at giving you a lot of information that means nothing." Corey Peterson "The best people that truly understand this property are the ones that are running it." Corey Peterson "They weren't questions that we sit there to demonize anybody or to put in a bad light of anything, but we did need to know the information." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

I'm coming to you from Hawaii, basking in the sun, rocking a Ric Flair style, and surrounded by sunsets and palm trees. This lifestyle is all about becoming a cashflow creator. Your paradise is possible! Today, we talk about branding when it comes to marketing and creating a branding guide. We'll also chat about how to become an authority on raising capital. There's a different call to action when you're trying to attract money. Topics on Today's Episode: A logo is not a brand; a branding guide with rules, platforms, colors, and other items identifies your brand With a branding guide, you can create award-winning marketing collateral Develop a branding guide over time, but don't wait until it's too late Create assets that attract capital and money Elevate your authority/credibility by making your marketing materials look great Copy your way to success; copy elements from others for your guide Create a bio that states you're a big deal, no matter your level of experience No such thing as bad marketing, but bad publicity; position yourself and brand Come up with premeditated words that go with your brand and describe your business Create a podcast, YouTube channel, and other methods to step into authority Teach what you know and be a student to learn from others Be willing to put in the work; focus Be the person you want to be; take timeouts and have fun Links and Resources Mentioned: Kahuna Cashflow Calculator Kahuna Investments Kahuna Boardroom Corey Peterson on YouTube Visual Assets Elevate Your Status David Lindahl Les Brown Quotes: "People buy based on emotions." Corey Peterson "There's a different call to action when you're trying to attract money." Corey Peterson "They're not creating the assets that they need to attract capital." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Do you have a girlfriend or wife? Most likely, they are the ones who decide where you are going to live. They run the roost. You're always going to try to live in the nicest and safest place that you can afford. But what men consider acceptable, women feel otherwise. Today, I'm joined by my wife, Shelley, to talk about all things necessary when doing improvements on your property that get you paid. Do you do too little or too much? What should they look like? What does a unit refresh standard or upgrade require? Let's take an imaginary tour to paint a picture of what your units should look like! Topics on Today's Episode: Replace cheap light fixtures, doorknobs, and other features to make the property appear fresh and nice Develop a refresh standard of what a unit should look like (hinges, knobs, etc.) Refresh standard does not cost much more money Out-of-towners looking for an apartment shop via the Internet, so use marketing on the Internet Small changes make renters/buyers feel at home, comfortable, and safe Use common sense to solve 99% of your problems Unit refresh standard typically only costs an extra $200-250, but the ROI is huge Change out toilets, and always have a low-flow toilet available, which conserves water Quotes: "When you're going into a 70s or 80s apartment complex...it does not cost that much more money to do the refresh standard." Corey Peterson "Mama wants to walk into her apartment complex and be blown away." Corey Peterson "Common sense can solve 99% of your problems." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

If you are an online entrepreneur or the face of your business, you need assets to market yourself for people to know, like, and trust you. Professional images elevate your status. Today, my guest is Daniel Woods, a photographer who specializes in personal branding. He got his start by taking his love of the ocean and transforming it into an adventure photography business. And then, he met Corey - who discovered the difference between a guy being behind a camera and a true artisan! Topics on Today's Episode: Photographers need to understand the whole spectrum, including the gear, camera, and lighting Photography assets make you money; they drive marketing and messages Drowning in work social media post is successful because it's different Post-work on photographs and videos; take now and make magic later Daniel loves entrepreneurship, people, and being creative As a photographer, Daniel gets to know you well and tells your story Vignettes are purposefully created for Facebook and Instagram ads; drives messages, such as about getting out of the hustle and grind Most people don't know what "brand" is; you need a branding guide Video and audio assets help make you and your business a leader Do everything with a brand in mind and use assets Teach what you know, and learn what you don't Links and Resources Mentioned: Daniel Woods Daniel Woods Instagram Daniel Woods on Facebook Tony Robbins Corey Peterson on Facebook Corey Peterson's Hawaii video Corey Peterson's NASDAQ video Corey Peterson's ocean video Quotes: "There's a difference between being a guy behind the camera, just pushing the shutter, to a true artisan." Corey Peterson "Those pictures make Corey money!" Daniel Woods "Everything we do is epic!" Daniel Woods "I love entrepreneurship. I also love creativity." Daniel Woods Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Titanium Investments has the typical story of a business starting out. Over time, the company retooled several times to make its dream come true. Complete faith and confidence led it to become successful. Today, my guest is Cassi DeHaas from Titanium Investments. She is a tenacious general contractor turned real estate investor because the grass is greener on the other side. Don't fear taking a different path! Topics on Today's Episode: Cassi and her business partner, RJ Bates, are each other's ride-or-die Titanium's wholesale business has decreased, but still fixing, flipping, and renting When making adjustments to a business, address personal changes, too What drives and motivates Cassi is the "life" and making an impact on the world Learning and teaching; be a lifelong student and education junkie How Titanium started in Hawaii through "best buds" relationship Titanium uses hard and private money for real estate investments Share information and results for money to come to you; the product sells itself Differences between hard and private money; restrictions related to hard money Times when you need to focus on your business, and times when you need to unplug from the business Attach yourself to someone/mentor with good instincts about their business Learn how to tell a world-class story and evoke emotion about your business Links and Resources Mentioned: Cassi DeHaas email Titanium Investments Titanium Investments on Facebook The Titanium Vault podcast Les Brown Sell With a Story Quotes: "I'm a hustler. I make things happen." Corey Peterson "I really hope, in the not-too-distant future, we will be buying our first apartment complex. That's the goal." Cassi DeHaas "Look at what we've done! Celebrate what you've done." Cassi DeHaas Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Woohoo! I inked a deal and doing the happy dance. I got a $10.65 million property with cash flow along under contract in Waterloo, Iowa. I think we'll start cash flowing about $100,000-$150,000 net sponsorship money. When we sell it, we'll easily make another $3–$4 million. But it's not about the money, but helping others! It's cool when you get to a point where you don't need the money anymore. Your cash flow comes in and exceeds all your bills, and you have lots of money left over. That is the amazing sauce in this business, and I want to help you find it. Think of an orchestra and all the pieces that come together to make amazing music. Topics on Today's Episode: In the movie, Steve Jobs: "Most people play whatever, play violin or whatever. I play the orchestra. I'm the company leader. I play the orchestra." As syndicators, our job is to play the orchestra, syndicate, and put all the pieces together for a deal Find partners and sponsors; hire great people to build a great property management company and make deals Avoid doing tasks you are not suited for; causes burn-out Establish professional and personal goals; and stick to them To get into the multifamily space: 1) Learn how to raise private money 2) Assemble your team and get deal flow from brokers 3) Do the work and underwrite deals 4) Put property under contract and fund it 5) Close the deal If something's broke, you have got to fix it Links and Resources Mentioned: Kahuna CashFlow Calculator How to Fund Your Deals with Eric Stewart Practicing Safe Syndication with Mauricio Rauld Hiring a Real Estate Virtual Assistant with Robert Nickell Kahuna Boardroom Quotes: "Your cash flow comes in, it exceeds all your bills, and you have lots of money left over." Corey Peterson "That is the amazing sauce in this business, and I want to help you find it." Corey Peterson "Let's go play this piece of music. Let's go play this property and make it work." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Take what's complicated and make it simple. For example, multifamily investing is easier than you think. You can find deals, and make your money grow. But you need a tool to underwrite those deals. So, I am officially introducing the Kahuna Cashflow Calculator. It's simple to use, and it works! I want to share with you how I underwrite because I want to be a roadmap to help you make it to the top, too. Topics on Today's Episode: I share a story about my dad, who taught me everything about life and who you should be: Help others I describe how my cashflow calculator works Broker sends you an operating memorandum (OM), which should include a rent roll to get the gross potential rents Subtract the physical vacancy at the property Determine the utility reimbursement fee (residential utility bill-back system, or RUBS) Calculate other income, including vending machines, laundry facilities, and any fees, to receive the affective gross income (AGI) Start calculating the expenses, such as insurance, security, and salaries (theirs and ours) on a per unit/door basis Net operating income (NOI): You can control or manipulate the value of a property Who wants to overpay for things? Wall Street wants a nice, steady, rising income The higher the cap rate you buy at, the better; the lower the cap rate you sell at, the better (but when you underwrite, be conservative) Make cashflow, a ton of money, and live a sunset and palm trees kind of lifestyle that will set you free Links and Resources Mentioned: Strategies for Building Capital with Dick Naas Kahuna Cashflow Calculator Kahuna Boardroom Tony Robbins AppFolio Quotes: "The great thing about this calculator, it's simple to use, and more importantly, it works." Corey Peterson "When you have a certain amount of success...it's what you do to help others that really counts." Corey Peterson "The higher the cap rate that you buy at, the better; the lower the cap rate that you sell at, the better." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Multifamily Legacy Episode 029 - It's the Money or Real estate is the Vehicle, the Money is in the Money Today, my guest is Jay Conner, a real dude who has raised an unbelievable amount of capital and money. He has no superpowers, but he did learn the power of raising private money. In this episode, we talk all about money. Years ago, Jay was told nasty smelling stuff is really the smell of money, so he looked for the nastiest, ugliest foreclosure he could find and ended up making $40,000. What could be better than being passionate about what you do and getting paid really well for it? Topics on Today's Episode: Turning point in Jay's career was when he went with private money because banks were no longer giving money for real estate investments in 2008-2009 Jay put getting private money on hyper drive; and didn't raise, but attracted $2,150,000 in new funding in less than 90 days Money comes from people he knows, and people they know Once you get private lenders and build relationships, the problem is not having enough money but using the money and finding deals Real estate is the vehicle, but the money is in the money The Godfather Method: Go get the deal under contract and the money will show up, but Jay wants the money and then get the deal under contract Corey's Kahuna Boardroom is about finding money, deals, and operations When talking to a new potential private lender, don't ask them to make too many decisions initially, just talk about the program at first and discuss the deal later Secret: Never ask for money; offer an opportunity for people to join your program Let your tools help people get high returns on their investment capital Jack Canfield's Rule of 5: Do five things a day, five days a week to help move your business forward Be authentic and be yourself; like attracts like - therefore, since you are not going to attract people who are not like you, then you should be you Jay describes the differences between hard money and private money Jay's Offer: 5 easy steps to locating and doing business with existing private lenders Links and Resources Mentioned: Jay Conner Stress Free Investing Jay's Free Class Kahuna Cash Flow Calculator Jack Canfield Jason Medley Quotes: "When you develop the ability to raise capital, it will unlock so many things." Corey Peterson "I had a choice. I could quit, or I could remember, 'I cannot fail unless I choose to quit.' And failure was not an option." Jay Conner "I backed into this world of private money. I'm not talking about hard money." Jay Conner "Like attracts like - therefore, since you are not going to attract people who are not like you, then you should be you." Jay Conner Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

The power of relationships is truly everything. When I look back on my career, there are certain times where people have touched me, and moved me to do some things differently. Things that I didn't even know that I could do. I want to do that for you, too. I'm talking about raising OPM private money. I started this podcast journey almost two years—wanting to teach what I know and to give back. We are just now starting to understand who we are as a company, our message, how we reach our audience, my guests, my cash flow creators. I want you to be a cash flow creator, just like me, through legacy. Topics on Today's Episode: Corey's getting ready to launch and deliver what he thinks is going to be a truly amazing product, the Kahuna Boardroom Utilize the power of your influence; you have conversations and a database of all your clients - leverage people that you already know Quit practicing the fear of not having any more income come into your life: Is the money that I saved enough? How can I retire from my job early without any regrets? Real estate. Find a partner to add their influence and credibility to your list of people Spend your life learning; always learn about up-and-coming factors in real estate Power of partnerships and power of relations: You have relationships with people, that's why you're in business Connect with others at conferences and mastermind events Look for capital for investments; focus more on raising capital and less on finding deals Two things that we want in this world: Time and money Kahuna Syndicate: Corey could pitch this mastermind and get $100,000 per person to join; but he decided not do it because it didn't align with his goals What relationships are important to you? Set aside things that you can't do right now; maybe you can do them later, in a few years Move forward and start making massive money; change your life, legacy, and wealth by flipping the switch and pivoting to multifamily real estate Stability is lacking in the market; actually pay your investors Kahuna Cash Flow Calculator offers training on how to underwrite multifamily deals When we raise capital, we never ask people for their money; we just ask them who they know Links and Resources Mentioned: Grant Cardone Dr. David Phelps Sean Terry Shaun McCloskey Vince Palko Strategies for Building Capital with Dick Naas Syndication Law in the Multifamily World Kahuna Cash Flow Calculator Syndication attorney Mauricio Rauld of Premier Law Group Brandon Barnes Quotes: "We are just now starting to understand who we are as a company, our message, how we reach our audience, my guests, my cash flow creators." Corey Peterson "The power of relationships is truly everything." Corey Peterson "Life is simple if you want to make it simple. Don't make it hard. That sometimes is the toughest part of working with these real smart people." Corey Peterson "When we look at relationships, relationships are everything. If relationships are everything, it's important in your business, and it's important in your life." Corey Peterson

Let's talk about money. How do you build relationships with people and capital? Raising capital is a lot like the game of chess. You want to build a strategic plan of what you want to do. Today, my guest is Dick Naas, a real estate investor and fabulous singer, storyteller, and joke teller! Corey and Dick share how they met and built a relationship around investing in buying and flipping properties. Topics on Today's Episode: Corey and Dick are Rotary members, who focus on service above self and can be trusted Shifting from buying and flipping to renting Reporting that Dick receives from Corey is transparent, informative, and accurate Benefits of a consistent paycheck B and C properties offer consistency Lionsgate deal: Dick goes from being an early investor to seller to a new deal Not all deals are successful, but Corey operates by finding out what people expect and then giving them that and that much more Managing assets, income, and money as you near retirement Retire faster, sooner, and with more money by investing in a long-term relationship with multifamily real estate Links and Resources Mentioned: Dick Naas of Men of Song Barbershop Club Rotary International Quotes: "Raising capital is a lot like chess. You want to be strategic...but more than that, raising capital is really about relationships." Corey Peterson "You don't join clubs to go fnd money. You join because you really want to serve." Corey Peterson "It allows me to plan my finances better. Even if the economy takes a slide, the rent checks keep coming in." Dick Naas "In real estate, you don't make the money on the sale, you make it on the purchase." Dick Naas Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Legal fees can cost you some money. But it costs even more if you wait to get a lawyer until you are in trouble, maybe because you don't know about real estate processes and paperwork. Today, my guest is Jillian Sidoti, a syndication lawyer. A syndication is when people are brought together to own an asset, such as a property, that's brought forth by a sponsor, which provides property disclosures. Previously, Jillian was in the music industry and barely getting by. She got sick and tired of being poor, so she went back to law school. But even she couldn't stand lawyers. So, she got into the real estate industry thanks to her finance degree. While trying to find investors, she met her partner to create Crowdfunding Lawyers. Topics on Today's Episode: What is a syndication and why do you need one? Need to disclose everything - all pertinent information to save yourself from heartache and being sued When you make money, you will have more than one syndication - and lawyers love to follow the money Hire a securities or syndication lawyer to properly prepare documentation What happens if you do not close on a property? Will lawyer amend documents? 506(b) and 506(c) offerings to raise capital Investor qualification form and verification for accreditation No one is going to steal your ideas, instead you are building trust; always be a student and a teacher Get into the habit of vetting investors as much as they vet you Be responsible for your investors and their money, but don't put them on a pedestal Where to raise money and capital - go to galas! Be cognisant - don't talk too much or be creepy; be genuinely interested in people Do not pay more money than you need to pay to your investors Links and Resources Mentioned: Gene Trowbridge Crowdfunding Lawyers Jillian's email Jillian's phone number is 323-799-1342 Quotes: "Legal fees can sometimes cost you some money, but it costs you more to call me later when you're getting into trouble." - Jillian Sidoti "A syndication is bringing a group of people together to own an asset that's brought forth by a sponsor." - Jillian Sidoti "Every time I give one of my investors the packet...this is going to be a document. It's going to be thick. It's going to scare the living crap out of you." - Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Many people get into real estate because they need to make money quickly. The power of real estate is that it can make a tremendous difference. It provides an avenue for people to get a return on their investment. Today, my guest is Randy Lawrence, who drops some truth bombs about multifamily investing. Randy has been in real estate for about 15 years and has structured his business around his belief and faith in God. Topics on Today's Episode: Money available that becomes a source of capital What provides a stream of income Multifamily real estate is fixed security of the real asset Single-family vs. multifamily opportunities and limitations People need help to know where to invest their money How to raise capital by presenting an opportunity for someone to get a return Friends and Family: It's about who they know with money Establish relationships; focus on multifamily real estate to scale, build, and grow Randy's business recently went through a tenant profile improvement process; develop new procedures, policies, and improvements Be strategic and have a plan; learn from someone with experience Generate a better quality of life for tenants; investors' lives are changed because of the return they receive Create a culture that sets the tone for your staff Engage in the process; focus on helping people rather than making money Where to Find Money: Go to a charity you believe in; it happens naturally Take on a leadership role to serve and help others It's not about the money; to be in business, you've got to make money by delivering value Find deals through networking and making connections Quality teams and partnerships to be successful; it's all about relationships Randy's goal is to close three, C-class complexes per year for the next five years Randy wants to develop a legacy business and empower investors Easy money isn't the best for the long haul; practice discipline and perseverance Focus on what you know and what you gain from; you don't need to be sexy to be successful Learn how multifamily can fit into your strategy; develop the right relationships Links and Resources Mentioned: Randy Lawrence The Real Estate Preacher Kahuna CashFlow Calculator How to Win Friends and Influence People The ONE Thing by Gary Keller Quotes: "Realistically, looking at the power of what real estate can do...the real estate market, in done properly...really can make a tremendous difference." Randy Lawrence "There is so much money out there...and they call it cashflow for a reason. It flows out of the people that can't handle it...and flows into people that can." Corey Peterson "Here's the opportunity that we have...that's fishing. You throw out some bait, and the right people are attracted to your bait." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Most people don't get involved with real estate because they don't have the resources needed, including time, money, and knowledge. But all you need is to be resourceful. Today, my guest is Tim Bratz, who shares how he started as a realtor and now owns lots of multi-family properties. As a realtor, Tim realized that's not where the money is at. Luckily for Tim, the market crashed and he bought his first investment property nine years ago. He didn't know what he was doing, but quickly made $15,000 when he sold it. Topics on Today's Episode: Network and build relationships with active investors to build credibility. Even though you are doing 100% of the work, be willing to initially give up 50-70% of the deals to build up a resume and get financing from banks. Give, give, give...to receive just a little bit. People want to pick your brain, so share your knowledge and experience if they are willing to use the information you give them. To put money together and get deals, use someone else's cash. When you partner with people, not everyone will be happy all the time. You need to let them go sometimes. Become a good steward of capital to show that you know how to manage and operate real estate. People will be knocking down your door to give you money. Learn how to manage assets properly to give people a consistent return and easily raise capital. Despite being able to get money, remain disciplined and conservative when it comes to deals. Don't deploy capital just because you have it. Set goals and identify what worked and what didn't. ELF Business = Easy, lucrative, and fun. Wealth Process: You can make a living flipping and wholesaling homes, but not be wealthy beyond measure. However, cash flow is king thanks to multi-family homes! Success does not happen overnight. You won't get rich quick, but you will get rich. You have to put in a lot of work every day. No matter how old you are or where you are in life, the key to success is to not quit. Eventually, you will succeed. Once you have a base level of passive income coming in, how can you go to the next level? Invest in different classes of real estate. Do you love to travel and have vacation homes all over the world? How do you get other people to pay for your lifestyle? Don't invest in depreciating assets, grow your assets and net worth via cash flowing options. Figure out your long-term goals. Do you want to make a lot of money flipping houses or make a passive-residual income? Understand the various aspects of deals - from finances to operations. You don't have to do everything, but know how to become passive. Tim uses a debt position and secures it with the asset. Links and Resources Mentioned: Tim Bratz, Email, Facebook, and CLE Turnkey Patrick Riddle Mark Evans Quotes: "If you want to make money, go into real estate." Tim Bratz "What it takes in this business is out-of-the-box thinking." Corey Peterson "A lot of people don't get involved in real estate because they don't think they have the resources...the only resource that you need is the ultimate resource, which is resourcefulness." Tim Bratz Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Today, my guests are friends and neighbors. We're going to talk about one word, "No." It's hard to say sometimes, especially in business and if you have a kind, generous heart. But you have to say "no" and master it. Instead of just saying, "no," ask the requestor, "What should I do?" By asking them that question, they understand and feel where you are coming from. Sometimes you just have to say "no." You want to help everybody, but you know that you can't sometimes. Topics on Today's Episode: No means no. At work, you feel like you have to do what your boss tells you, but sometimes you probably have the ability to say "no." You are a real estate professional who wants to level up one step at buying bigger deals, or you're new to the game and wanting to learn. You are working hard for someone else, who is making all the money. You don't want to "work for the man" anymore. Have you given your soul to a company, and they didn't care? Are you just a number? There's lots of people who feel like that and want to break free. Break free from a job by replacing your income through real estate. Learn how to raise private money. Other people's money (OPM) can set you free. When you raise private money, you can do multiple deals with multiple vendors and people. The power is not real estate, but in the money - the ability to attract capital from other people. You've worked all your life to have a retirement income. What were you afraid of? Not having enough money to retire or running out of money. Most people get advice from a stockbroker on how to deal with this fear. However, they get paid a commission to take your money, so be wary. What are your options? CDs, bonds? What you want is to be able to live off the interest. However, if you don't have enough money and only get a 0.5% return, you're going to start eating into that principle. That's when people get really scared that they are going to outlive their money. With your retirement money, you're not willing to risk anything. Remember 2007-2008? You've been saving your whole life, but when the market crashes, it can wipe out your money. Once you take the money and don't have principle, it snowballs. That's the real reality for people. Apartment investing offers financial solutions. You never sell anything because you don't have to. It is an opportunity for people's money to grow. Usually, with an apartment deal, there's a 6% preferred return. If an investor gives you $100,000, every year you're going to be paid $6,000. The 6% is far more than anything that a stockbroker or anybody could offer you. That's a real deal. Pay quarterly. People want to schedule their monies, and they like paychecks. If paid quarterly, that means you've got an income stream. An income stream is important in return because that's how you pay your bills. You want to turn on as much income stream as you can, so you never have to touch your principal. The 6% is probably the best money you can get. With apartments, 6% is usually based on the cash flow because there are several buildings and tenants pay rent every month. Tenants expect rents to go up, so never disappoint them. By raising rent, that's how you raise your income. Hold onto properties for five years. Year 1, fix everything that is broken. Year 2, fix all the broken tenants. You upgraded and fixed everything, made it nice and shiny, so now you're going to attract a better tenant profile. Years 3-5, optimize your rent growth potential and keep expenses as tight as possible. Guess who pays a lot of money when you sell it? Other investors or family office. A consistent rising income story: You have three years of solid operation, plus two years of fixing things. When you sell it, you usually give investors another 6%. That's a total of 12%. It's a growth and income story. Everybody loves growing incomes because everything keeps going up, too. If you reinvest in upcoming deals, your income will rise. When would you say "no" to an apartment deal? If it's in the wrong spot. There's a lot of foot traffic around the apartment complex during the day, which means nobody's got jobs. You look at and around the property at night because you see a lot of things that no one tells you about. During the night inspection, you see a drug deal. It is time to say "no." Walk through the worst units. Toilets are yanked off and there are misplaced pipes - a handyman hack job. If someone wants to work with you on an apartment deal, they may think it is amazing, but you need to educate them and share your honest opinion. They get into it. They see a deal, and all they see is a working deal - no roadblocks or red flags. It is hard to say "no" and hurt someone's feelings. But you are preventing them from making a really bad decision. Champion each other's dreams and goals. Push each other to be successful. Quotes: "No is a hard word sometimes to say, especially in business." Corey Peterson "I've given my soul to this company, and they don't care. I'm just a

When you live a magical cash-flow life, where you make money that shows up again and again, it allows you to enjoy the beauty of a place like Breckenridge, a ski resort town in Colorado. Today, my guest is Robert Nickell, who launched Real Estate Investor Virtual Assistants (REIVA). No matter what business you are in, things need to get done and people need to do them - they are called virtual assistants (VAs). Robert aggregates steps that you didn't even know could be aggregated when it comes to hiring a VA.. Topics on Today's Episode: What are VAs? They are people who help you and your business in some way. They usually perform day-to-day types of tasks. Robert trains his VAs on real estate investing tasks, from marketing to social media and real estate documents. REIVA gets to know its clients - who they are, where they are, and where they want to go. Once it knows this information, it can create a job description for a VA to meet the needs of the client. Robert's team facilitates the whole process, from technology questions, profiling, hiring, to onboarding. The job description should detail what tasks need to be done and the type of person needed. Set a skill set to that job description. A task or success map is created to describe a 90-day plan. For success, Robert's team facilitates a lot of organization up front. When most people want a VA, they want them to do everything! There's too many things to do, so that's why they need a VA. Interviewing Process: When hiring someone to be your VA, you want to make sure it is a good fit. Get to know the applicants. Having options gives you confidence in who you select. For example, you may need a VA who can work at the same time you do. Growth and productivity is hard. It's a lot of work, and REIVA is there to help its clients solve problems, get time back, and get more done at the same time. There's so many tasks that a CEO should not be doing, especially when a VA can take care of them. Links and Resources Mentioned: Robert Nickell Quotes: "Somebody's got to do the work." Robert Nickell "Their time is your time." - Robert Nickell "You're hiring somebody that's going to be working for you and your team. We want to make sure that that person's a good fit." - Robert Nickell Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Ever thought of going to a training session on how to invest in multi-family real estate? You may not have the money to go, but you can't afford not to go! Today, my guest is Bob Bowman, a real estate investor. He attended Ball State University to major in education and become a teacher. Eventually, he realized he wanted to be in business. He learned how to sell and talk to people, as well as create business where there was none. He made a lot of money - for the company he was working for at the time. After several years, he got tired of working for a company and making money for other people. He dreamed about working for himself in real estate. Bob began buying single-family homes. He would buy, renovate, and lease them - and found it to be a great way to make money. Around 2007-2008, the market changed and Bob realized he needed to start selling these homes. He lost his net worth and income. He needed to reinvent himself and started looking into investing in apartments. Topics on Today's Episode: How Bob learned how to raise money for real estate deals. After all, you need money to buy real estate. Create an elevator pitch as a selling technique. This is your moment to shine! Educate yourself, as well as generate discussions and relationships to learn about what you want to do. In Bob's case, it was apartments. Bob learned about how to get deals, how to talk to brokers, and underwriting when it comes to apartments. Also, he got a coach to help educate him. Corleone Method: When you are good at raising capital, it gives you power when talking to brokers and others. You can act competent. When subscribing for a deal and looking to get a commitment, it should be 2.5X the money you need. As you build a database of investors, it gets easier to raise money. You need to build relationships where they know and trust you. If you can't raise money, you will never reach your full potential. No matter who you are talking to, you need to be a strong underwriter and know your business and market. Take care of your investors through underwriting, and know your numbers! Is it a good deal? Or, a great deal? You need to be confident enough to be able to discuss and decide. You can always say, "No." When spreadsheets are spread around, formulas are changes and not calculated correctly. The results aren't what you are going to get in your investment. Bob created a software product, called Commercial Underwriter - Simple Input, Sophisticated Output, for underwriting apartments and commercial real estate. It is a simple, yet comprehensive tool that shows how an investment will perform. One of the enhancements for the product will be the ability to create a professional property package for investors, which will save you a lot of time. Bob's Method of Success: Educate yourself, mastermind and surround yourself with like-minded people, teach others, take action, and become a strong underwriter. If you want to get ahead, help others through a hand-up, not a hand-out. Money comes first, and protect your capital. Plus, find a partner who complements what you do and shares the risks. Links and Resources Mentioned: Bob ([email protected] or 321-239-0647); Commercial Underwriter; Diane Bowman Carleton Sheets and Russ Whitney Dave Lindahl Xerox, IBM, Canon, and Linear Harvard Club Fortune 500 Shark Tank Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Do you want a cash flowing portfolio that lets you live a life of freedom. But what if you lack capital, time, and no idea where to start? Today, my guest is Mike Zlotnik, who has experience raising private money, raising OPM. He started out in software development. Since 2000, he has been a real estate investor, and since 2009, a full-time fund manager. Most people don't even know what the process is to start a fund. It takes a lot of work to get one set up, and Mike is already on his fourth! In this episode, we discuss how to set up and get capital into a fund. Topics on Today's Episode: Set up a financial vehicle, and develop an offering memorandum, term sheet, and summary sheet of marketing materials - with these, you can start raising capital. How do you raise capital? Start with friends and family. That's the #1 step. They will put in whatever they can. Ask them to refer you to others who may have capital to invest. Establish a network and build relationships. If they invest in your project, they can get a better return than in the stock market with higher predictability and lower volatility. Masterminds are a great place to meet people, especially investors. You're never raising money for the sake of money. You are trying to have people know, like, and trust you. Another option for raising capital is to have a partner. Also, you can borrow your partner's credibility. If you and your partner are complementary, you can move mountains and the fund process is much easier. The multi-family space is suited for syndication. Mike's job is to find high-quality syndication projects with the right sponsors and invest in them. Mike does a "Blind Pool," which is not a specific property or deal, but invests in "X,Y,Z." He vets what he is going to invest in and can find deals that others can't. Don't forget to communicate and let others know about what you do and your unique opportunity. You need to share your story. Mike is good at math and chess (he played competitively), but not so much at sales. So, he is happy to share his wisdom...about chess. Having a good, strong track record definitely helps to raise capital. Ask questions about funds, cash flow, rate of return, etc. Mike has a book that helps people learn how to invest in funds and syndications. It is titled, How to Choose a Smart Real Estate Investment Fund. When you first start out and have a deal, most cannot bring that deal home. They are unwilling to give up a piece to someone else, such as a partner. Share the wealth until you gain enough experience to be on your own. You need bank financing and a co-sponsor. If you're raising equity, you need to be able to go to the bank for loan approval. Elements of a Deal: the market, bank financing, and operations. There are two elements to financing a deal: 1) bank loan and 2) equity rates. If you are trying to put a deal together, but don't have all the pieces, that's ok. Realize that you need to be strategic on how and who you bring into your deal. Mike's crystal ball broke a while ago, so he does not know the future. But you can prepare for it. Interest rates are expected to rise. There might be a correction coming. That doesn't mean the market is going to crash. In the multi-family space, as interest rates rise, that creates some buying opportunities and deals. If you buy affordable real estate, instead of the Taj Mahal, when there is a downturn, people go for affordable. You don't necessarily buy for value, but for cash flow. If you want to write a book, don't write it word for word. Outline your chapters, and record your thoughts. Have them transcribed, and you'll have the words for your book! Links and Resources Mentioned: Mike Zlotnik; BigMikeFund.com; Email U.S. Securities and Exchange Commission Cory Boatright Quotes: "That ability to aggregate capital is what makes things good for us." Corey Peterson "You have many investors who put their money into the fund, and the fund makes investments and pulls their money to various investments." Mike Zlotnik "If you have a good structure, if you have a good marketing business, you know how to find quality deals, then you can partner with people who can raise capital." Mike Zlotnik Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

When creating the cash flow lifestyle, you are going to want to know how to structure deals. Today, I go through the nuts and bolts of how to put deals together and the financing component. Plus, the all important people component. I also have a Free Live Webinar coming up February 20th. Please go to the link and register to everything I'm doing in the multifamily space. The Boardroom is also coming up. I'm going to put on a small event three times a year with 35 participants. This will be a high level group that does a lot of great things and gets a lot of traction. I am doing a six-part webinar series on the six profit pillars and then a 3-day intensive. I'm really going to teach this game, so you can have time and money. Register at Kahuna Wealth Builders. Topics on Today's Episode: Partner with people who have net worth. This person is a sponsor who puts down the earnest money and provides the net worth and signs for the loan. Give up 10% of your deal for a sponsor. Finding a deal is worth about 10%. It is a simple math process. Make a list of what I have and what I need and put the pieces together. Underwriting guidelines protect the capital or money. If you have no money or credibility give up more to get the deal and get started. Build a track record and build legitimacy. Then you won't have to give up as much. The underwriting will tell you how much you can pay for capital and if the deal is a go or not. Don't chase deals, only do fat deals. To find sponsors, simply start asking your friends and family and practice asking. You will soon develop a way to ask and find the right person. Don't ask people for money, ask them who they know. The right people will always self-select. There are people who want to invest who don't like the ups and downs of the stock market. We buy for the cash flow. Our investors crave consistency. I pay my investors quarterly paychecks or mailbox money. Plus we sell in five years and they get a big chunk of money. Do this over and it creates a rising income story. The deals have to be done conservatively to make money. The golden rule is to take care of the capital 100% of the time everytime. Make a net worth statement on an excel spreadsheet. What you owe minus the properties value is your net worth. Links and Resources Mentioned: Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family Free Live Webinar The Boardroom Join the Free Webinar Quotes: "I really want people to see the authenticity of what I do and the next pieces of the puzzle." Corey Peterson "If you want to get into the multifamily space, get good at raising capital." Corey Peterson "Having a deal under your built gives you so much more legitimacy." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Nizan Mosery is killing it in the real estate industry. He does multifamily and commercial investing. He is living the cash flow life. Nizan is also really good at raising private money. In this show, we talk about Nizan's love of traveling, his radio show The Traveling Investor, giving back, and how he cut his hair for the Wounded Warrior Project. Nizan shares his story and emphasizes finding yourself, being still, real estate investing and more in this episode. Topics on Today's Episode: The concept of being a traveler. Nizan was out of the country for about 15 years. He was on the beach in Israel and a friend asked him to to go India and he said yes, and continued traveling for about six years. Nizan met his wife in Portugal. They had two daughters and came back to the states in 2009. He loves traveling and meeting amazing people. The mission of giving back to investors to make their lives better. How Nizan had to cut his hair through raising money for the Wounded Warrior Project. Nizan is from Brooklyn, New York. His mother was a holocaust survivor. His parents didn't have a formal education, but they understood building something for yourself. There are those that pay rent and those that collect rent. You always want to collect. They bought commercial real estate in New York and Nizan worked in all aspects from the ground up. He went to Israel when he was 25 after his father died. Finding yourself and taking moments to be really still. Planting strong roots and still being able to travel and fly. The deeper the roots the higher we fly. Nizan opened a raw vegan restaurant in Israel. When he moved back to the states he got his broker license. He also founder Cornerstone Investment Partners. The importance of educating yourself about all of the different types of real estate that exist. Pinpoint the one shiny penny you are going to run at. Don't go too thin. Educate yourself on everything. Then pick one and become the expert. Be a marketing machine and your product is real estate. Make an inventory list of what you bring time, money, network of people, inventory. What do you need? A sponsor, earnest money, loan application money, money for the equity portion. This is putting the puzzle together. The importance of having a great team. As well as networking and talking to everybody and being sincere and building relationships. Putting out LOIs to show the broker that you want to buy. Look at passive residual income as a goal and never quit. Links and Resources Mentioned: Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family The Traveling Investor Show Bigger Pockets Wounded Warrior Project Cornerstone Investment Partners [email protected] The Traveling Investor Show on Facebook The Traveling Investor on iHeartRadio Quotes: "One thing I like is seeing my friends and colleagues create a business and a lifestyle that they can pass on to their children." Nizan Mosery "The experiences I had while traveling really made me open my eyes and see what life is all about." Nizan Mosery "We are here to make our environment, universe and world better than it was when we came into it." Nizan Mosery Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

It's a brand new year. 2018 is an exciting time to rock. You should be curious not only in your business life but your personal life too. In today's podcast I share a Kahuna Concept. These Kahuna Concepts are also posted on my YouTube channel. I wasn't always great at school or studying, but I was always curious. It is important to be curious because it leads to certain things. There was an article in the Harvard Business Review that talks about curiosity being as important as intelligence. Today, I break down how curiosity has helped me in my life. Topics on Today's Episode: IQ is the intellectual quotient or the amount of god given brain power that you have. Having a high IQ is like having a lot of RAM. EQ is the emotional quotient or how you deal with complexity. Does it stress you out or overwhelm you. A higher EQ helps deal with emotional stress of complexity. CQ is your curiosity quotient. This is learning by being curious. You can increase your internal learning and recall by being curious about things. Being curious and figuring things out has come very natural to me. In the apartment business, you have to be curious and learn how to solve problems. You have to figure out how things work from loans to insurance to operations. When I meet people who are good at what they do, I want to understand the process and ask them questions. I also recall their phrases and terminology and adapt it as my own. I have been working the CQ my entire life. I was a cabana boy at the Stardust Hotel and Casino. We set up chairs and towels for guests. There was a club at my hotel that I was curious about. I asked the bouncers questions about if they let underage people in. Later in my life, my wife and I wanted to go to a new club. The line was around the block, but I was confident that we weren't waiting in line. I was curious enough in my adolescence to learn how the doorguy bouncer job worked. I was able to use this knowledge to show off to my future wife. Don't stop being curious. Links and Resources Mentioned: Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family Curiosity Is as Important as Intelligence Kahuna Concept 001 Quotes: "By being curious and having to figure thing out. I actually learned the process. I found that this is a very powerful gift." Corey Peterson "You can't change your IQ, but you can increase your EQ and your CQ. You need to be curious about solving problems." Corey Peterson "When I come into contact with people who are really good at what they do, I want to know how they do what they do." Corey Peterson Don't forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.