PassivePockets: The Passive Real Estate Investing Show

How do you maximize your real estate investment returns from a tax perspective? Join today’s episode as Tomas Castelli discusses various tax strategies for passive real estate investors. Passive losses can offset both earned and passive income, while proper depreciation strategies upfront can generate larger tax losses. Listen in as Tomas explains the three main tax buckets, the concept of bonus depreciation, and why Lazy 1031 is the way to go for passive investors. Tomas Castelli Tomas Castelli is a CPA and tax strategist at The Real Estate CPA. He helps real estate investors minimize their tax burden and maximize their returns. He has equity positions in several real estate syndications and funds. Tomas is the co-host of the Tax Smart REI podcast and an active member of the Left Field Investors community. With his expertise in tax strategies for passive investors, Tomas advises investors on how to make the most of their investments from a tax perspective. Here are some power takeaways from today’s conversation: [00:00] Three tax buckets: earned income, portfolio income, passive income [06:43] Passive losses can offset earned and passive income [11:26] Cost segregation studies break property into components with different depreciation schedules [14:21] Rapidly depreciating assets in the first year through bonus depreciation [17:44] Depreciation recapture taxes the depreciation amount when you sell the asset [26:06] How Lazy 1031 exchange uses passive losses from new investments to offset gains from sold investments [31:00] Claiming rental losses against earned income through a real estate professional status [41:18] Are travel expenses to conferences and properties deductible for passive investors? [44:36] Check your capital account and box 2 (passive income/loss) on your K-1 for accuracy Episode Highlights: [06:43] The Three Tax Buckets The three main tax buckets are: 1. Earned income - This includes income from employment like salaries, wages, commissions, bonuses, and self-employment income. Earned income is taxed at higher rates up to 37% for federal income tax. It is difficult to offset or reduce taxes on earned income. 2. Portfolio income - This includes income from investments like interest, dividends, capital gains from stocks, bonds, and mutual funds. Losses from investments in this bucket can only offset gains within the same bucket. 3. Passive income - This includes income from passive activities like real estate rentals and limited partnership investments. Losses from passive activities can offset both passive income and earned income. This provides more flexibility and opportunities to reduce taxes. [26:06] The Lazy 1031 Exchange The "lazy 1031 exchange" is a tax strategy where passive losses from new investments are used to offset capital gains from sold investments, without a formal 1031 exchange. By investing in a new passive opportunity after selling an investment for a gain, depreciation, and losses from the new investment can be used to minimize taxes owed. This provides more flexibility than a formal 1031 exchange and requires a pipeline of passive investments generating losses to offset gains from sold investments. [34:54] Maximizing Depreciation with Bonus Depreciation With bonus depreciation, most of the five, seven, and 15-year property is frontloaded in the first year. Without it, assets depreciate over several years which results in lesser benefits if the asset is held for a shorter period like three years. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Tax Smart REI Podcast Podcast Recommendation: Acquisitions Anonymous Podcast

Want to make informed investment decisions? Join us as we unpack the secrets behind risk-adjusted returns with Paul Shannon. He talks about real estate investing in today's uncertain market, how he vets sponsors, looks for risk-adjusted returns, and the benefits of both active and passive investing. Paul Shannon is the principal of Red Hawk Real Estate and fund manager of InvestWise Collective, a partnership between Red Hawk Real Estate and Left Field Investors. Since transitioning to real estate investing full-time in 2019, Paul has acquired over 200 residential units by recycling his equity and through joint ventures. A licensed realtor, Paul has experience in acquisitions, raising capital, and property management. Here are some power takeaways from today’s conversation: [02:00] Why Paul slowed down in investing [11:10] Emerging Trends in Multifamily Financing: Longer Holds, Lower Returns [18:00] How active investing makes you a better passive investor [21:00] Understanding risk-adjusted returns [26:45] About InvestWise Collective [30:50] Tips for vetting sponsors and investors [41:50] Being selective with higher quality deals Episode Highlights: [11:10] Emerging Trends in Multifamily Financing: Longer Holds, Lower Returns Multifamily operators are shifting towards agency debt or fixed-rate products with stepped-down prepay penalties to avoid costly fees when selling before maturity. This change means longer hold periods, lower leverage, and loan-to-value ratios in the 50s to 60s. Lenders require properties to generate income 1.2 to 1.3 times higher than the debt service, leading to decreased loan proceeds and reduced returns. Despite this, there are still attractive investment opportunities, but investors must consider more than just high IRRs and cash-on-cash returns. [21:00] Understanding Risk-Adjusted Returns: Maximizing Returns While Managing Risk in Investments ‘Risk-adjusted returns’ refer to the amount of return an investment generates relative to the amount of risk involved in producing that return. An investment with a higher risk-adjusted return means it generates more return for the amount of risk taken. Paul explains risk-adjusted returns by comparing potential returns from real estate investments to risk-free alternatives like high-yield savings accounts. The returns from real estate deals involve more risk due to factors like rising interest rates, cap rate compression, and reliance on sponsor pro formas. However, they must offer a high enough return to justify that additional risk compared to the guaranteed return from a savings account. Paul looks at variables like yield on cost, IRR, and cash flow to determine if a deal offers a sufficient risk-adjusted return for his investors. [30:50] Tips for Vetting Sponsors and Investors Paul places the most emphasis on trust, ensuring the sponsor will act as a fiduciary for investors' capital. He examines the sponsor's track record but notes that a longer track record does not necessarily mean better, focusing more on how the sponsor navigated past downturns. Paul analyzes the sponsor's financial spreadsheets in depth to understand their assumptions and whether they are conservative or aggressive. Rather than just looking at headline returns, he focuses on yield on cost, IRR partitioning and cash flows to determine the deal's risk level. Finally, Paul looks at the debt terms the sponsor is using to ensure it matches their business plan and exit strategy to minimize prepayment penalties. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Redhawk Real Estate InvestWise Collective Email: [email protected] Podcast Recommendation: Old Capital Podcast

In this episode, Joe Williams, co-founder of Keller Williams, shares how KW became the largest real estate company in the U.S by flipping the traditional brokerage model to become agent-focused. Joe offers valuable lessons from his successful career, including timing the market and planning for success. He also discusses his current focus on land funds as an investment vehicle, leveraging Keller Williams' network to source deals. This episode provides a wealth of insights that can be applied beyond the real estate industry. About Joe Williams Although he is best known as the co-founder of Keller Williams Realty, Joe Williams was licensed at 19 and sold homes throughout his college years. Joe received his BBA in 1976 from the University of Texas in Real Estate, which at the time was a new degree program. He has over 43 years experience working with the local community and realtors. Joe, along with his team, has extensive experience in Residential & Commercial Brokerage, as well as Building & Residential Development. Here are some power takeaways from today’s conversation: [03:10] Starting his real estate career at age 19 and working his way up [11:28] The importance of having the right partners [13:28] Becoming agent-focused with their mission statement and profit share program [23:07] VDPR: The key elements for achieving success [27:35] Real estate is learnable [37:00] Lessons in real estate investing and the importance of timing the market [53:24] Joe’s current focus on land funds and future plans Episode Highlights: [23:07] VDPR: The Key Elements for Achieving Success VDPR stands for Vision, Discipline, Planning, and Results. The concept is that in order to achieve any goal, you must first have a clear vision of what you want to attain, and then acquire the discipline necessary to work towards that goal. This requires planning and organization, such as making lists and setting clear markers for progress. Ultimately, the results will follow as a direct outcome of the effort put in. Clarity of purpose and a focused mindset are key to achieving success, as Earl Nightingale famously said, "you will become what you think about." [27:35] Real Estate is Learnable Real estate values are primarily driven by public data such as supply and demand, job availability, city policies, growth patterns, schools, hospitals, and utility locations, which can all be researched and analyzed. This is what makes real estate an attractive investment vehicle - it's something that can be learned and understood. However, having an expert on your side who can interpret these variables is invaluable. Real estate professionals deal with these factors daily and are equipped to predict future value. In comparison to stocks, real estate is much easier to evaluate. [29:14] The Importance of Timing Timing is essential in real estate, outweighing even the significance of location. Market cycles, which are rarely linear due to human behavior, greatly impact supply and demand for multi-family properties. Joe states that there is no such thing as a bad market, only buyer's or seller's markets. Understanding your place in the cycle is crucial since waiting for the top can lead to missed opportunities. A wise investor once said, "I've always sold too soon," emphasizing the importance of being proactive. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: https://www.joewilliams.land/ Email: [email protected] Royal Legal Solutions www.spartan-investors.com

Just saving money and putting it in your 401k is not enough anymore. There has to be something else. That's why we have this community. Today, joining us is Clint Harris from Nomad Capital. Clint believes that passive real estate is the key to retirement, as saving alone is no longer sufficient. Clint also stresses the importance of financial independence combined with location and time independence, for a purpose-driven life. The more cash flow you have, the more days off you’re buying, and this hastens retirement or getting out of a W-2 job! About Clint Harris Clint Harris, Investor Relations & Capital Raising at Nomad, has 15 years of experience in medical device sales. He's a business innovator who owns a successful property management company and multifamily real estate portfolio. Clint believes that financial independence, combined with location and time independence, leads to independence of purpose. He joined Nomad to share this vision with investors. Here are some power takeaways from today’s conversation: [09:32] Achieving financial independence through investing in real estate [11:28] The value of asset class conversion [16:34] Increasing value through asset class conversion [19:12] Diversifying investments to reduce risk [24:55] “Buying days off” through syndication deals [32:39] Tips for vetting sponsors as an LP [35:00] What to look for in sponsors [39:12] Nomad Capital’s aim to double investors' money within 5 years Episode Highlights: [22:52] “Buying Days Off” Through Syndication Deals Syndication allows investors, limited partners, and general partners to put their capital to work while others use their time and expertise. Investing in a deal means buying days off from working for the rest of your life and getting closer to achieving financial freedom. This asset class provides real value beyond just a five-year investment, and our goal is to build up assets that we can hold onto with a select group of investors and eventually reclaim our time. [29:48] Location, Time, and Financial Independence: The Key to a Purpose-Driven Life Achieving financial independence alone is simply not enough. You need all three elements: location independence, time independence, and financial independence. With these combined, you can lead a purpose-driven life and do whatever your heart desires, whether it's charity work, attending church, skiing, building, traveling, or raising your kids. However, if you're only financially independent but stuck in one location, you'll be forced to spend most of your time in front of a screen every day, which isn't the nomadic lifestyle you desire. At Nomad, we value this core belief and aim to keep it as a vital part of our culture, just as you have developed an amazing culture with Left Field Investors. Our goal is to always prioritize this value above everything else. [36:48] Tips for Vetting Sponsors as an LP Clear communication is essential in meeting your investors' needs as a real estate investor. Ideally, you should receive monthly updates that include examples of both positive and negative news and how they were presented. It's important to stay informed at all times. With insider knowledge of the industry, you may also want to know if the company is vertically integrated, handling everything from property sourcing to capital raising in-house. This information can help you make more informed investment decisions. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Email Clint: [email protected] Website: Nomad Capital Podcast Recommendation: BiggerPockets Podcast AJ Osborne's Self Storage Income Podcast

This trailer is for The LFI Spotlight - a podcast dedicated to empowering a vibrant community of investors who are passionate about acquiring real assets that generate reliable cash flow through passive investing. Our host, Chad Ackerman, brings his extensive banking background and expertise in data analytics to the world of real estate investing. The LFI Spotlight has moved to it's own podcast feed! Please be sure to Subscribe to the podcast so you don't miss an episode! This link will take you to the email we sent out which has the links to the different podcast players. Podcast reviews in Apple (or any other player) are extremely helpful, so please give The LFI Spotlight a 5 star review - and while you are there, if you haven't reviewed Passive Investing from Left Field please review that as well!

Adopt a cashflow passive income mentality and invest in assets that generate regular, predictable cash flow. In this episode, we sit down with cash flow expert Chris Miles as he discusses the value of asset-backed investments and the importance of holding cash for strategic investment decisions. After transitioning from financial advising to real estate investing, Chris got to retire at 28. About Chris Miles Chris Miles is a cash flow expert and the “anti-financial” advisor. Through his company Money Ripples, he works with clients to become financially independent and significantly increase their cash flow. Chris is also the host of the Money Ripples podcast. Here are some power takeaways from today’s conversation: [01:50] Growing with a scarcity mindset [04:16] How he got into financial advising [06:59] How Chris retired at 28 because of real estate investing [10:16] The accumulation theory and financial institutions [12:30] The FIRE Movement vs. the cashflow passive income mentality [15:42] The value in asset-backed investment [18:47] Why you shouldn’t bank on values going up [21:12] What you need to know when investing in oil [24:25] The value of holding cash today [31:35] When investing in insurance makes sense [35:33] Tips for finding quality operators Episode Highlights: [12:30] The FIRE Movement vs. The Cashflow Passive Income Mentality The FIRE (Financial Independence, Retire Early) movement has gained significant popularity in recent years, focusing on accumulating a certain amount of wealth and living off a small percentage of it each year. However, this model has been debunked by various simulations that suggest a withdrawal rate of 3% or less, rather than the commonly suggested 4%. Living on 3% of a million-dollar portfolio amounts to a lifestyle below the poverty line, which is not what individuals envision when they think about financial independence. On the other hand, a cashflow passive income mentality focuses on investing in assets that generate regular, stable, and predictable cash flow. By investing in turnkey rentals, apartment syndications, and oil and gas royalties, for example, individuals can create a steady stream of passive income that can significantly improve their quality of life. [15:42] The Value in Asset-Backed Investment Asset-backed investments like real estate classes are less volatile than stocks. The S&P 500's yield average over the last 30 years is lower than expected at around 7.7%. Diversification in the stock market can be illusory due to a few dominant players causing fluctuations. Real estate investments offer lower risks and higher returns, making them a promising alternative investment with long-term growth potential. [20:25] The Value of Holding Cash Today In 2022, there was a prevalent belief that holding cash was a poor financial decision due to the risk of inflation. However, when the masses say one thing, it is often wise to do the opposite. While real estate and stock markets may be subject to fluctuations, cash can provide stability in uncertain times. If banks tighten their lending practices and quantitative tightening occurs, those who have cash on hand may have an advantage. While other investors may have their capital locked up in assets, cash holders have more flexibility and freedom to invest in opportunities as they arise. Thus, holding cash can be a strategic decision, particularly when other forms of investment are perceived to be high-risk or overpriced. In short, cash is still king or queen in uncertain times. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Money Ripples Money Ripples podcast Learn more about Rise48 Equity's multifamily investments and schedule a call with their CEO Zach Haptonstall at rise48equity.com/invest. Podcast Recommendation: https://www.edmylett.com/podcast

Real estate investing can be a profitable and exciting venture, but it can also be complex and daunting for those who are new to the industry. In this episode, Joe Berko, CEO of Astor Realty Capital, shares his journey into the world of finance and commercial real estate. Managing assets like hotels, Joe shares his thoughts on the current state of the real estate market and where he sees it heading in the future. He also delves into how he evaluates potential operating partners and what traits he looks for in them. Find out some investment strategies he is pursuing in the current market. Joe Berko Joe Berko is a nationally recognized, inspirational entrepreneur with over 25 years of success predicated on profitable investments, ethics, and generosity. A great believer in giving back, Joe serves on the board of several non-profit organizations and has been invited to speak at professional conferences. Here are some power takeaways from today’s conversation: [02:57] How Jim got interested in finance and real estate [06:40] Building Berko & Associates [09:08] Your name goes a long way. [12:03] What to look for in an operator: Looking at the market and asset classes [15:56] Resilient markets: The case of Scottsdale, Arizona [22:28] The triple C’s in finding an operating partner [25:06] How to evaluate an operating partner Episode Highlights: [22:28] The Three Cs of Decision Making: Collateral, Credit, and Character Collateral. This refers to the love and understanding of real estate, including its location and dynamics. Analyze to ensure you’re comfortable with all aspects of the investment. Credit. While you work with many experienced individuals, not all of them have the financial resources to support the investment. Look for partners who have the ability to bring in financing, including the right banks, to ensure that you can move forward with confidence. Prioritize working with partners who are willing to invest their own money in the deal, as this demonstrates a strong commitment to its success. Character. Real estate deals can be derailed by human error. It’s crucial to work with partners who have integrity, honesty, and a strong work ethic. There is no formula or spreadsheet for character, but it is essential for long-term success in any venture. [25:06] How to Evaluate an Operating Partner When it comes to finding the right operating partner, there are some key factors to consider. First and foremost, you need to feel comfortable with your partner. It's not just about their years of experience or the size of their team. You need to look for someone with strong character, who is committed to the success of the venture. One way to evaluate a potential partner is to pay attention to their behavior when things start to go wrong. This is when the true character of a person is revealed. Look for someone who can stay calm under pressure, who is willing to take responsibility for their mistakes, and who is proactive in finding solutions. Intuition is also an important factor to consider. Trust your gut when making decisions about who to work with. Pay close attention to details, listen carefully, and be sensitive to any red flags that may arise. Ultimately, the goal is to find an operating partner who shares your values and is committed to your success. With the right partner by your side, you can achieve great things together. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Astor Realty Capital (Contact their Investor Relations Manager at [email protected]) Download Aspen Funds' free economic report at https://aspenfunds.us/lfi

Join us for part two of our podcast interview with renowned economist Dr. Peter Linneman, principal of Linneman Associates. Get ready for more valuable insights on topics like the under-supply of single-family housing and its impact on the market, the relationship between high prices, profits, and supply, and what the Federal Reserve is doing about inflation. If you missed part one, be sure to check it out for even more great insights from Peter. Let's dive in! About Dr. Peter Linneman Dr. Peter Linneman holds both master's and doctorate degrees in economics from the University of Chicago. He is the principal of Linneman Associates. For nearly four decades, he has provided strategic and financial advice to leading corporations through Linneman Associates. He provides M&A, analysis, market studies, feasibility analysis to many leading US international companies. In addition, he serves as an advisor to and a board member of several public and private companies. Peter was a professor of real estate at the Wharton School of Business at the University of Pennsylvania, from 1979 until his retirement in 2011. He's an accomplished author having written books, articles, and of course, The Linneman Letter, a quarterly letter for commercial real estate investors. Here are some power takeaways from today’s conversation: [02:52] Why the economy is not overheated [04:07] The relationship between high prices, profits, and supply [05:52] How the pandemic skewered the numbers [10:18] How much are rents going up for apartments? [15:26] What’s the Fed going to do about inflation? [17:05] The importance of gradual interest rate increases [19:44] The Impact of Bank Failures [29:45] Why the market for [39:55] The importance of asking for help Episode Highlights: [04:07] The Relationship Between High Prices, Profits, and Supply Peter explains that high prices encourage suppliers to increase production, which was demonstrated in 2021-2022 when record profits led to more supply and lower prices. Despite this, the Federal Reserve has chosen to suppress demand even though it is below trend, rather than allowing it to increase and spurring more supply. This decision's long-term implications remain unknown. Instead of reducing demand, the solution to an underperforming economy is to increase supply. [17:05] The Importance of Gradual Interest Rate Increases In December 2020, it was clear that interest rates needed to be raised from zero, according to Peter. However, the key was to do so slowly and without rushing. Unfortunately, it took another year and a quarter for the Federal Reserve to initiate the rate increases. Peter argues that if the Fed had started raising rates gradually earlier, both the markets and the banks could have adjusted accordingly. It is comparable to adjusting to a typhoon versus the same amount of rain spread out over a two-year period. Gradual rate increases would have allowed for a smoother adjustment period instead of sudden shocks to the economic system. [31:14] The Under Supply of Single Family Housing and Its Impact on the Market There's a significant three and a half percent under-supply of single-family housing, which becomes significant when considering the high demand for this type of housing. The shortfall is comparable to a shortage of Toyotas in an economy where only two types of cars exist. This creates an opportunity for multifamily properties to benefit. However, due to NIMBYISM and pent-up demand, this shortfall is unlikely to disappear soon. Therefore, it's important to address the housing under-supply with innovative solutions to meet market demands. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Linneman Associates

Let’s dive into the world of economics and real estate with Dr. Peter Linneman, an accomplished economist and advisor to leading corporations. He shares his insights on finding great mentors, learning as a skill, and navigating the current state of the US economy. With years of experience in providing M&A, analysis, market studies, and feasibility analyses to various companies, Dr. Linneman is highly regarded in the industry and has been serving as an adviser and board member of several public and private companies. Get ready to learn from his wealth of knowledge and expertise in this exciting episode. About Dr. Peter Linneman Dr. Peter Linneman holds both master's and doctorate degrees in economics from the University of Chicago. He is the principal of Linneman Associates. For nearly four decades, he has provided strategic and financial advice to leading corporations through Linneman Associates. He provides M&A, analysis, market studies, feasibility analysis to many leading US international companies. In addition, he serves as an advisor to and a board member of several public and private companies. Peter was a professor of real estate at the Wharton School of Business at the University of Pennsylvania, from 1979 until his retirement in 2011. He's an accomplished author having written books, articles, and of course, The Linneman Letter, a quarterly letter for commercial real estate investors. Here are some power takeaways from today’s conversation: [02:17] Introduction of Peter Linneman [04:07] Early beginnings from a blue-collar background to the real estate industry [05:31] Opportunities that arose from networking and doing good work [12:13] Importance of being a good student and knowing how to learn [16:58] The current state of the economy [21:44] The worst thing facing the economy [23:50] The Fed’s crazy approach to the economy Episode Highlights: [10:07] How to Find Great Mentors Start by identifying people who have skills and experience that you can learn from. Look for individuals who are willing to share their knowledge and expertise with you. Once you've identified potential mentors, show them that you are serious and committed to learning by demonstrating your work ethic and willingness to put in the effort. Don't be afraid to ask for their guidance and advice. Remember, learning is a skill that requires curiosity and a willingness to seek out new information. Build a relationship with your mentor by communicating regularly and showing appreciation for their time and expertise. [17:48] The Current State of the Economy Currently, the US economy is in a state of recovery from the pandemic. Real GDP is at about 2.5% of pre-pandemic levels, indicating that we have grown over the last three years, which is a positive sign. However, employment is still below pre-pandemic levels, and the Fed's attempt to get rid of employment is misguided. On the bright side, around two-thirds of homeowners have mortgages with an interest rate that is two to three percentage points lower than the historic norm, giving them more financial freedom. The travel and tourism industry is almost back to pre-pandemic levels, but there is still room for growth in areas such as automobile consumption. Despite concerns about the amount of debt rolling over, only 25% of corporate and real estate debt rolls over in the next three years, giving businesses some cushion and margin. Overall, there are good things happening in the economy, such as the normalization of supply chains. [21:44] The Worst Thing Facing the Economy The biggest challenge facing the economy is the Fed's belief that their job is to create a recession. This approach is dangerous, and they tend to overreact and be late in their responses. While we have weathered the shutdown of the economy for a year and a half, the current challenge posed by the Fed is something we can overcome. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Linneman Associates

This is the second part of the two-part podcast interview with Bob Fraser. And we pivot today's discussion into the megatrends: demographics, oil & gas, inflation, and interest rates. He discusses the trends he’s seeing and specifically identifies what asset classes will help us capitalize on that trend. About Bob Fraser Bob Fraser is a finance and technology executive, with over 20 years of experience, who is passionate about educating others about alternative investments. In 2012, he co-founded Aspen Funds, a fund management company focused on alternative investments, where he is responsible for financial management, portfolio modeling, as well as systems and processes. Here are some power takeaways from today’s conversation: [00:00] Introduction [02:58] The megatrends in demographics [07:16] The industrial boom in the United States [15:14] How investors can capitalize on the energy issue [18:52] How LPs get comfortable with oil and gas [24:15] Inflation is coming due to demographics [27:21] Opportunities in the distressed debt space [32:56] Economic forecasts for the second half of 2023 Episode Highlights: [04:08] The Megatrends in Demographics China's population is set to decline drastically in the next 75 years, leading to significant changes in its economy and workforce. This will result in a surplus of infrastructure that may no longer be necessary, and a severe impact on the country's manufacturing power due to the loss of two-thirds of its workforce. The demographic shift will have implications for other countries in Asia, Russia, and Italy, and will significantly alter the world's economic landscape, making it challenging for China to remain an industrial power in the future. [15:14] Non-operated Working Interests: How Investors Can Capitalize on the Energy Issue One way to make money is through property rights and royalty interests. However, many people park their money in this way, which can result in low returns. To generate substantial profits, it's essential to have a deep understanding of where the development is going and make smart investments. Non-operated working interests entail owning leases, paying royalties to landowners, and giving them to other operators such as large oil companies who bring resources and expertise to the table. Revenues are shared between parties, leading to high returns on investment without direct management of operations. Despite the minimal risks associated with drilling due to advanced technology and well-understood geology, many investors are hesitant to take advantage of this opportunity, making it a cost-effective option for those willing to take the risk. [27:21] Opportunities in the Distressed Debt Space If you’re looking for investment opportunities, consider distressed debt as a potential option. Despite the risks involved, this type of investment can bring high returns for those willing to take calculated risks. The current market conditions may present opportunities to purchase debt at a discounted rate, with the hope of selling it back at a profit when the company recovers. It's time to overcome your fears and dip your toe into this potentially lucrative area. Keep an eye out for upcoming opportunities that may arise as the market changes. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Invest Like a Billionaire podcast Aspen Funds

When it comes to investing, timing can make or break your portfolio's success. While efficiency and maximizing returns are essential goals, aligning your investments with the market's ebbs and flows is crucial. In this episode, Bob Fraser discusses the importance of timing your investments and why development can be a lower-risk strategy. He also shares insights on navigating the multifamily market and emphasizes the need for due diligence and trust in the investment business. About Bob Fraser Bob Fraser is a finance and technology executive, with over 20 years of experience, who is passionate about educating others about alternative investments. In 2012, he co-founded Aspen Funds, a fund management company focused on alternative investments, where he is responsible for financial management, portfolio modeling, as well as systems and processes. Fraser is the co-host of the Invest Like a Billionaire podcast where he joins his son, Ben, and Aspen co-founder Jim Maffuccio, to dive into the world of alternative investments and speak with successful investors. The trio also discusses economic trends, including megatrends such as inflation, energy prices and deglobalization. The goal is to empower others looking to explore less volatile investment opportunities improving their portfolio’s performance and enabling them to become more financially secure. Here are some power takeaways from today’s conversation: [06:08] The shift from notes to other asset classes [08:22] The importance of timing your investments [14:14] What happens when interest rates go up [16:13] Why invest in multifamily [21:15] Why development is lower risk [29:36] How an LP does due diligence [32:47] Trust is everything in this business. Episode Highlights: [08:34] Navigating the Multifamily Market The multifamily sector may experience some challenging years ahead. However, this doesn't signify the end of multifamily investments. Instead, it can be an excellent opportunity for buying. This serves as a reminder that as investors, we need to be prudent and thoughtful in our decision-making. [10:49] The Importance of Timing Your Investments Success is not only about gaining efficiency and maximizing returns but also aligning your investment timing correctly. Pursuing vertical integration to achieve a 10% efficiency might appear promising, but it won't yield results if you're losing 90% of your investment. Market fluctuations and economic changes necessitate keeping a close eye on market trends and making informed decisions based on prevailing circumstances. Timing is vital in investing, and getting it right can minimize risks, maximize returns, and identify opportunities for growth, expansion while avoiding costly mistakes. [22:16] Why Development is a Lower Risk Developing properties can be a lower-risk investment strategy as it allows for more control over the costs. Investing in a value-add property may seem like a good idea, but building new units can be more cost-effective and less risky. For example, in Northwest Arkansas, there are properties for sale at $195,000 per unit, but new units can be built for $130,000. Similarly, building industrial properties can be a smart investment, especially since it's currently difficult to buy industrial properties. Building cheaply, like an industrial warehouse, can yield high returns, especially if leased out. Even if it's not leased immediately, having a long runway for the property can help mitigate risks. Overall, development provides more control over costs and can be a safer investment strategy. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Invest Like a Billionaire podcast Aspen Funds

It's the final week of our three-week Back-to-Basics program, and we're excited to bring you part two of our exclusive Masterclass on passive investing. In partnership with Tribevest and their Chief Storyteller, Julian McClurkin, we're here to share everything you need to know about building wealth through passive investing. Last week, we discussed the basics of passive investing, including what is a syndication, the pros and cons of passive syndications, and the crucial topic of how to choose a sponsor. About Julian McClurkin Julian McClurkin has literally traveled the world throughout his professional basketball career supporting and entertaining families and communities. Leveraging his engagement and relationship-building skills, Julian now joins Vision Realty, having built a diverse portfolio in real estate sales, investing, and renovations. Here are some power takeaways from today’s conversation: [07:11] The safest class to invest in [09:48] How to pick a syndicator [15:41] How to choose a deal you want to invest in [17:30] How to analyze a deal [23:28] The process of investing in a syndication [26:39] What to do during the syndication process [31:44] How tribes work and why they work [40:27] The process of forming a tribe Episode Highlights: [07:11] What is the Safest Class to Invest In? A common phrase you often hear is that everyone needs a place to live, right? So investing in multifamily apartments or mobile homes where there's always a demand for housing might seem like the safest option. However, it's important to remember that all of these are tangible assets, not just pieces of paper. Real estate and most of these assets generally carry less risk than other types of investments, but that doesn't mean there's no risk involved. For instance, resort investing, retail, and office space immediately after the pandemic may be riskier, while assisted living facilities may require waiting for demographic changes to make them profitable. It's crucial to conduct thorough research and invest in what you're comfortable with. Start there and then slowly branch out as you gain more knowledge and experience. [09:48] How to Pick a Syndicator When selecting a syndicator, it's crucial to align your investment strategy with the asset class you choose. If you're aiming for significant tax write-offs, investing in ATMs might be a good option, while others may not yield the same benefits. As you gain more knowledge and experience in the syndication space, you'll discover various asset classes that you didn't know about before, enabling you to select the right one for your current strategy. Always figure out what you're looking for and diversify your portfolio accordingly, but don't diversify for the sake of it. Ensure that you have a sound strategy in place for accumulating your assets and how they all work together to achieve your goals. [17:30] Metrics to Look For When Evaluating a Deal To analyze a deal, you need to ensure that you have the right sponsor, asset class, and market. These are the crucial aspects that can make or break an investment. At Left Field Investors, we've created a deal analyzer tool that considers 30 different metrics and turns green if the deal meets our parameters or red if it doesn't. Red flags don't necessarily mean you should avoid the deal, but they do generate questions that you should bring up with the sponsor. This is another way to assess their responsiveness and ability to provide detailed answers, which can indicate how well they will handle the investment. For example, if you get five red flags, contact the sponsor and ask questions. Pay attention to their response time and level of detail. A good sponsor will give you detailed answers and be responsive, which can help build trust and confidence in the deal. By focusing on the metrics of the deal analyzer and checking on the sponsor, you can effectively vet the deal and make an informed investment decision. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: https://www.tribevest.com/partners/lf

Today, my guest was Peter Leung. Peter shared his story, which started early on by migrating to the US from China and being homeless for a short period of time. Peter became very focused and motivated by this, and it sparked his journey to the success he has today. He now consults with college students to educate them on traditional financing and alternative investing, with a focus on value investing. Listen in to hear his advice about how important it is to have cash flow, not just cash. If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

In today's episode, we re-release our exclusive masterclass on building wealth through passive real estate investing. In partnership with Tribevest and their Chief Storyteller, Julian McClurkin, we covered passive investing in real estate. This episode is a must-listen for anyone who wants to understand more about passive investing in real estate syndications. We delve into the basics of real estate syndications, the pros and cons of passive syndications, and most importantly, how to pick a sponsor. Whether you're a beginner investor or an experienced one, this episode will serve as an excellent refresher for you. About Julian McClurkin Julian McClurkin has literally traveled the world throughout his professional basketball career as a Harlem Globetrotter, supporting and entertaining families and communities. Leveraging his engagement and relationship-building skills, Julian now joins Vision Realty, having built a diverse portfolio in real estate sales, investing, and renovations. Here are some power takeaways from today’s conversation: [07:47] Why it would be better to invest in real estate than index funds [10:20] Ways to spread the risk of investing [15:13] Types of investors who qualify for syndication [22:26] The process of investing in syndication [26:27] Passive Syndications: pros and cons [28:38] The tax benefits of syndication [36:10] What the velocity of money means [40:37] What “full cycle” means for investors Episode Highlights: [07:47] Real Estate Investing vs. Index Funds Investing offers various options, one of which is index funds that can give good returns over time with minimal effort. However, investing in real estate provides steady cash flow via rental income and can force appreciation by improving the property, which is not possible with index funds. Real estate investors can benefit from the syndication operator who handles the process, allowing them to enjoy the perks of their investment. On the other hand, index funds bet on the value of paper assets and do not offer cash flow or dividends as in real estate investments. [22:26] The Process of Investing in Syndication Investing in syndication involves upfront due diligence, including vetting the sponsor and analyzing the deal using tools like a sponsor screener and deal analyzer. Once you've invested, you'll receive documents like a private placement memorandum and subscription agreements to sign. You then send the wire and wait for cash flow, receiving monthly or quarterly distribution checks and reports to keep track of the property's performance. [26:27] Passive Syndications: Pros and Cons Passive syndications have major advantages, such as the ability for investors to benefit from the experience and expertise of a syndicator, who acts as a sponsor or manager for the investment, allowing them to invest in larger deals. Syndicators may also use tax advantages such as cost segregation and bonus depreciation, which can help investors reduce their tax burden. However, passive syndications also have downsides, including the lack of control investors have over the asset and the lack of liquidity, which can tie up capital for several years without the option of selling the investment, making it challenging for investors who need access to their funds in the short term. [28:38] The Tax Benefits of Syndication When investing and making money, taxes are the biggest factor working against you. However, investing in real estate allows you to reduce, defer, or even eliminate almost all of the tax burden as the tax code is written to benefit real estate investors. Depreciation can be used to offset almost all of your passive gains, which means that if you invest in syndication correctly, you won't have to pay tax on any of the cash flows you receive, and it will be deferred, with recapture happening later. By investing in more syndications, your tax bill will go down significantly. Resources Mentioned: https://www.tribevest.com/partners/lf

Kyle Collette joined me this week on the LFI Spotlight to share his journey into the passive investing world. He shared several good pieces of advice for other investors to utilize in their process. Listen in to see how he has navigated the active investing world and has migrated into the passive. If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

In today's episode, which was originally released in November 2021, we feature Dan Bartholomew, a financial advisor and friend of Jim Pfeifer, who was new to passive investing in syndications. After listening to the podcast for a couple of months, he had accumulated a list of questions for Jim, which led to this informative episode where each question was discussed in detail. This is the perfect episode for those just starting out in passive investing and struggling to comprehend some of the common terms used in the LFI community. This episode is often used as a resource for new investors. This episode is being republished because all the topics discussed are still relevant today. So sit back, relax, and enjoy this throwback episode from 2021! Here are some power takeaways from today’s conversation: The difference between bonus depreciation and cost segregation Cash-on-cash return vs. IRR return How to screen out the metrics you don’t like Understanding the different types of deals Class A vs. Class B Why a triple-net lease makes sense Selling a property or holding it Episode Highlights: [06:48] Bonus Depreciation vs. Cost Segregation Cost segregation and bonus depreciation are both tax strategies that allow for accelerated depreciation of assets. Cost segregation involves conducting a study on a property to identify personal property separate from real property. This allows for the separate components to be depreciated over five, seven, or ten years, rather than the typical 27.5-year straight-line depreciation for residential properties and 39 years for commercial properties. On the other hand, bonus depreciation is a provision in the 2017 Tax Cuts and Jobs Act that allows for a 100% depreciation deduction in year one for assets that could only be depreciated at 50% or lower percentages. While this provides a large tax deduction in year one, it also leads to depreciation recapture when the asset is sold. This means that the deferred depreciation is added back to the gain from the sale and taxed at a higher rate of 25%. However, reinvesting the proceeds in a new syndication can offset the recapture and the tax deferral can continue, similar to a 1031 exchange. [12:28] Cash-on-Cash Return vs. IRR Return The cash-on-cash return for ATMs is 25%, which is higher than the typical 6-12% for most syndications. However, it's important to note that ATMs are different from other assets because they don't have any returns at the end as the asset depreciates and isn't sold like an apartment complex. Cash on cash return is calculated by dividing the annual cash flow by the capital invested, while the Internal Rate of Return (IRR) takes into account the time value of money and looks at the total return on investment over time. In typical real estate deals, the IRR is higher because the annual returns are compounded over the life of the investment and there are sales proceeds that contribute to the return of capital. However, with ATMs, there is very little return on capital and virtually no sales proceeds, which is why the cash-on-cash return may be higher than the IRR. Overall, ATMs are an outlier in terms of their unique characteristics compared to other assets. [34:48] Navigating Investment Priorities and Tax Advantages in Real Estate Syndications Syndicators often prioritize either cashflow or appreciation in their deals, although it's common to have elements of both. It's worth noting that some syndicators utilize tax advantages such as cost segregation and bonus depreciation while others do not, so it's important to ask about this when evaluating an investment opportunity. While taxes shouldn't be the sole reason for investing, it's vital to speak with the sponsor to determine whether the investment is geared towards cashflow or appreciation. Typically, if the pro forma shows a smaller early-year cash-on-cash return with a larger gain projected in the future, it's an indication that the investment is focused on appreciation

This week’s guest was Infielder Eric Hertica. Eric has worn a few hats on his journey to passive investing but is excited to have found a community to network with and get educated on the space. Eric had some good advice for those that are looking at syndications and hopes to continue to diversify in the syndication space. Check out the recording! If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Building a successful startup takes more than just a great product idea and a talented team. It also requires careful management of resources, effective decision-making, and a thorough understanding of the market and competition. In this episode, Shelly Hod Moyal shares her insights on venture capital and investing strategies, addressing key concepts like managing dilution and diversification, balancing personal investing requirements with potential returns, and determining whether a deal is a good deal. Learn how to maximize returns and manage risks in venture capital investing with expert advice from Shelly Hod Moyal, co-founder and co-CEO of iAngels. About Our Guest Shelly Hod Moyal is a finance and investing expert, having built her career on Wall St. prior to co-founding iAngels. As the co-CEO, she works with global investors to invest in some of Israel’s best startups. As a GP and Kellogg MBA alumna, Shelly holds numerous board positions and is actively involved in bringing value to iAngels portfolio companies. Living in Tel Aviv, Shelly and her husband have 4 children, and as a passionate art aficionado, Shelly is a member of Yedidim at Bat Sheva and Tel Aviv Museum of Art, as well as Laniado Hospital Here are some power takeaways from today’s conversation: Defining venture capital Managing dilution and diversification Balancing personal investing requirements with potential returns Determining allocation to a down round Discerning if a deal is a good deal Offsetting the write-offs Episode Highlights: [08:43] What is Venture Capital and How It Works As an investor, investing in different rounds of a company involves taking different risks and potentially earning different returns. The earlier the round, the more risk and potential for high reward there is. Dilution is a common issue that requires reinvestment to maintain ownership percentage. Venture capital investments are illiquid and require a long-term mindset that entails holding onto the investment until the company goes public or gets acquired to receive returns. To protect ownership percentage, anti-dilution provisions can be negotiated. [12:38] Managing Dilution and Diversification in Venture Capital Investing Venture capital investing requires a careful consideration of dilution and diversification to minimize risk and maximize returns. Each round of funding dilutes your percentage of ownership by approximately 25-30%, and investing in individual companies carries a high failure rate. Building a diversified portfolio and keeping funds available for follow-on investments can help manage these risks. It's important to remain defensive in situations where you need to protect your investments and to invest in around 20 companies to reduce risk. [18:21] Balancing Personal Investing Requirements With Potential Returns Investors may agree with the value of a company but choose not to invest based on their personal investing requirements, risk tolerance, and potential for returns. It's common for angel investors to stop investing when the valuation becomes too high or if they are already heavily invested in a particular opportunity. Ultimately, the decision to continue investing in a venture capital opportunity requires weighing the potential risks and returns against your investment goals. Resources Mentioned: https://www.iangels.com/

This week, Infielder Pat Wills joined me on the podcast to share some highlights of the website improvements that we have implemented. Listen in to learn about all of the enhancements that have been made to LeftFieldInvestors.com. There have been improvements to the forum, more flexibility for users, and lots of improvements to the structure which will allow the community to continue to grow without the need of overhauling our site again for a while. We are very excited about these improvements. If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Collections aren't just for show and tell: they can investment as well as a passion project. The collector's community is rapidly growing, and now might be the time to leverage the market potential to turn your hobby into a smart investment strategy. In today’s episode, Jim Pfeifer interviews Rich Vinhais, CEO of WAX Insurance Services, a company specializing in the collection and protection of rare items. As the collector's community expands and becomes more main stream, Rich offers valuable insight on how to turn a collectors passion into an investment strategy. He delves into the unique world of collecting and how it is becoming an investment space that differs from traditional passive investing. Tune in now and learn all about the collectors’ community and how you can get involved! To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field. Love the show? Subscribe, rate, review & share! https://leftfieldinvestors.com/podcast/

This week on the LFI Spotlight, I was joined by fellow LFI Founder Ryan Stieg. Ryan shared his journey from being in the insurance business to an accidental landlord. Ryan talked about getting involved in Turnkey real estate investing and them migrating to the syndication space eventually. He gave good advice around taking action and networking. Check out the rest of the episode! If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Success is not found in comfort, but in the boldness to pursue your passion. In this episode, J Scott shares his journey from flipping houses through apartment syndication. He shares how he and his wife left the corporate world and jumped in to flipping houses and how they built their business from there. Along the way, J wrote The Book on Flipping Houses which has sold over 350,000 copies worldwide and he recently released his latest book, Real Estate by the Numbers. In this episode, he offers valuable insights into the strategies and lessons he has learned along the way, including always being open to new opportunities and diversifying your investments. Tune in to this episode to learn from J’s expertise and experience in the world of real estate. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field. Love the show? Subscribe, rate, review & share! https://leftfieldinvestors.com/podcast/

This week’s episode features a spotlight on Tribevest, one of LFI’s Preferred Partners. Tribevest is a collaborative, group investment platform that enables friends and family to organize as an investor group, pool money, and manage joint investments. Brittany Barchalk, the Head of Marketing at Tribevest, joined us to talk about enhancements they’ve developed with their product this year. First, the Open Tribe concept was rolled out earlier this year which allows for a Tribe to be formed by the community but managed by the team at Tribevest instead of one of the community members. This is a great asset so that all the participants in the Tribe can remain passive as it pertains to the Tribe itself. Additionally, Brittany shares the roll out of a new product the Tribevest Wallet. This allows for much easier fund transfers for those that are in multiple Tribes and should reduce the number of wires needed with investment through those Tribes. Lastly, Brittany mentioned a new enhancement that will be coming to the community soon called Pro-Tribe. More details to come on this as the development finalizes. If you would like to connect with Brittany, you can reach her at [email protected] or you can find anyone on the team at their website https://www.tribevest.com/. If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

The world of investing is so vast that choosing an asset class can be a challenge in itself, especially when you’re considering becoming a passive investor. But if you are a fan of investing in an emerging asset class, then you should consider short-term rentals. In this episode, Jim Pfeifer interviews Sief Khafagi, the Co-founder of Techvestor—a company that helps people passively invest in short-term rentals. Merging tech in the business, Sief introduces an easier path for people to invest in this asset with a focus on higher cash flow and achieving lifestyle by design. He shares with us the origin story of Techvestor, how they build their portfolio, and how their processes are set up for investors. He then dives deep into why investors should consider investing in short-term rentals and how to do it effectively in a passive way along with different properties. In an ever-changing market, you need an asset class that is durable. Don’t miss out on this conversation to find out why short-term rentals can be that for you! To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field. Love the show? Subscribe, rate, review & share! https://leftfieldinvestors.com/podcast/

Episode 37 of the LFI Spot Light features Infielder Mike Abramowitz. Mike's journey includes working in several entrepreneur businesses and getting to a point where he coaches struggling entrepreneurs to a better structured business. Mike is developing his passive wealth to help support his ventures and has some good tips for those that are developing their wealth as well. If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/.

Passive investing is not just about finding the right deal; it’s about finding the right sponsor who has the discipline, experience, and integrity to deliver consistent results for their investors through the ups and downs of the market. In this episode, Jim Pfeifer interviews Brian Burke, the CEO and Founder of Praxis Capital, about his journey to becoming a syndicator and authoring one of the most popular books on passive investing for investors, The Hands-Off Investor. Brian shares his experiences and insights on the multifamily market and its trends, as well as where he thinks it’s headed. He also discusses different strategies such as how passive investors should change their analysis of a deal when cap rates, interest rates, and rent growth are in different places, and how to spread risk among different sponsors, property types, and asset classes. Tune in to learn how to invest passively and effectively in the multifamily market. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field. Love the show? Subscribe, rate, review & share! https://leftfieldinvestors.com/podcast/

Joining us today was Whitney Elkins-Hutten from Passiveinvesting.com. Whitney talks about her personal journey into the passive investing world that she manages alongside her responsibilities with PIC. Listen to her lessons learned tips that she's developed as an LP. If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Through Open Tribes, Tribevest is empowering groups of investors to come together and achieve financial goals that would have been out of reach individually. When investors work together, they can achieve more than they could ever do on their own. In this episode, Jim Pfeifer interviews Travis Smith, Founder and CEO of Tribevest, about how Tribes can unlock Community Personal Finance. Travis talks about Tribevest and the many innovations and value they offer; including allowing investors to invest as a group with like-minded people, pool their capital, set up their multi-member LLCs, get into more deals than they could on their own and invest with confidence. He shares the many possibilities group investing has to offer. He also dives into the value of investing with like-minded people and using the Power Of Community to maximize your returns. Tune in to learn more about Open Tribes and how Tribevest can help you achieve your financial goals. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field. Love the show? Subscribe, rate, review & share! https://leftfieldinvestors.com/podcast/

Today's podcast is with Infielder Scott Topper. Scott is currently in a tech W2 job in the Chicago area and has been on a journey into the passive investing space. Listen to how Scott has been incorporating investing in real assets along with thriving in his corporate career. If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Passive investing can move people toward financial freedom and away from trading time for money. This is precisely what Seth Bradley has done. He talks with Jim Pfeifer about committing to investing 100% to elevate it from a side hustle to a lucrative business. It is difficult to leave your job without knowing the steps to take and the rules involved in real estate and other passive investments. In this episode, Seth Bradley, the Managing Partner of Law Capital Partners, shares his insights on how investors can educate themselves on those rules and gives tips for how he finds the right fit in people to work with in investing as well as a lawyer’s perspective on evaluating the deals. We don’t always want to read the entire document, especially when there are three typical documents to read in syndication. Seth provides tips on what to look for in the document to save time. Don’t miss this opportunity and dig into Seth's perspective on investing! To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field. Love the show? Subscribe, rate, review & share! https://leftfieldinvestors.com/podcast/

For today's Spotlight I had the pleasure of discussing value add vs turnaround investing with Josh McCallen from Accountable Equity. Josh talked about his approach to the resort business syndication space and how their model differs from the normal multifamily flips. If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Online businesses are a great investment, but many people haven't been able to cash in on this opportunity because they lack the time or expertise to manage an online business effectively. Through this episode, Jim Pfeifer welcomes his guest today to address that problem. Kyle Kuderewski, the Operations Manager at WebStreet, shares how investors can invest in online businesses with WebStreet. There are several monetizations or business types of online business, and one of the most popular is Amazon FBA, fulfilled by Amazon. Kyle also dives into what makes a business sell online. Tune in to this episode, and let's ride into the digital space to sell! To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field. Love the show? Subscribe, rate, review & share! https://leftfieldinvestors.com/podcast/

This week's guest is Chris Kaloper from Seattle, WA. Chris tells us about his journey starting out planning to be a sponsor but he pivoted along the way. He has joined three tribes to help diversify his portfolio and spread his risk, and he talks about how that has allowed him to network in with many different people in the community. If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

In this episode, Garrett McIntyre, the Head of Acquisitions at Rize Equity, delves into overcoming limiting beliefs many real estate investors face in the industry. To be an entrepreneur is about having confidence and knowing what you are doing and then finding the right people. Building a team of people you trust is paramount as Garrett explains “people-first” and finding people that align with you as one of the most important components in finding successful deals and maintaining an investing business. If you can put the right team and partners around you each doing their part you can scale your business while also having a W2. Don’t let those limiting beliefs hold you back. Dive into this episode now! Connect with Jim Pfeifer in LinkedIn.

Today's episode featured Infielder Dan Reece. Dan was a Financial Planner turned High School Athletic Director/Football Coach, turned full time Real Estate Investor. Listen in to learn what sparked Dan to take the first step into passive investing. Learn what his advice is for those that are looking into the industry. If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Todd Dexheimer, Principal of Endurus Capital and VitaCare Living, joins Jim Pfeifer to share how he found success in passive investing through multi-family deals as well as senior housing. He discusses the important differences between the two and the necessary market analysis in ensuring you have enough employees and target clients in running a senior housing property. He also talks about the one time he fixed and flipped a ski resort by figuring out all possible exits. “Make every day a Saturday” is one of Todd’s favorite taglines encompassing his philosophy of doing what he loves. Love the show? Subscribe, rate, review & share! https://leftfieldinvestors.com/podcast/

This week, Jim Pfeifer joined me to share updates to our communication and meeting schedule. We’ve made a lot of improvements to how we connect with the community and felt it was worth summarizing this in the podcast for current LFI members and for those that are new to our community. Listen in and learn how to keep track of our schedule. Starting with how to find our Events Calendar on the website. Additionally, we pointed out where to find the Deal Tracker to look at what opportunities Sponsors have been sharing with LFI. See the links below: https://leftfieldinvestors.com/eventcalendar/ https://leftfieldinvestors.com/lfi-group-deal-tracker/ Jim also shared the cadence of emails and meetings that we are targeting going forward. We are attempting to streamline all of this information and make it more efficient for the community to keep track. If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field

Left Field Investors do things differently, and Lee Yoder’s story testifies to the power of Community in getting started in real estate investing. Lee, the Founder of Threefold Real Estate, joins Jim Pfeifer to talk about his journey of taking risks and making huge career changes. He looks back on how he transitioned from a physical therapist to a real estate syndicator. His story is all about accepting and letting go of what was not for him, and pursuing what truly makes him feel fulfilled. He shares his experiences with taking on big risks in his career and his perspective on assessing them. Lee also touches on financial coaches, lending strategies, real estate markets, and more. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

This week’s episode features a spotlight on Steven and Becca Taylor from the Boston area. Both are classically trained scientists who recently started passively investing in real assets. You’ll have to listen to hear who gave them the idea. They have also helped start a local LFI Meetup in the Boston area which we love to see.

In this unique episode, Mike Simmons, the author of Level Jumping: How I grew my business to over $1 million in profits in 12 months, shares insights on growing a real estate business with wholesaling and land contract deals. More than just the nuts and bolts of investing, Mike discusses with @Jim Pfeifer how to create an actual business out of investing by systematizing it so you can be free of your job. Learn how focus and announcing his intentions led Mike from a job he did not enjoy to embarking on a successful real estate business that gives him freedom of time and money. Mike has personally worked with hundreds of entrepreneurs to help them optimize and grow their businesses. Tune in to this insightful episode and start level jumping on your business today! https://leftfieldinvestors.com/ To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

This week’sepisode features Infielder Trevor Oldham. Trevor is starting off his journey in passive investing and shared his story with us on how he's been able to get started including getting into a tribe to invest with a group of people to allow him to investor for lower amounts of capital but meet more sponsors. Trevor has been working to develop multiple income streams and has some interesting pieces of advice from what he's learned along the way. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field

Self-storage has been one of the best performing real estate asset classes over the past two decades, especially in uncertain economic times. Join Jim Pfeifer as he talks to real estate investor turned self-storage investor, Scott Meyers. Self-storage is a simple and predictable asset class and Americans love to store their stuff - in good times and in bad times. You can add value and raise rents much more quickly than in multifamily and other assets. Tune in to learn how the storage business works, how to vet sponsors, analyze deals and become a successful passive investor in self-storage!

This week’s episode features ME - Chad Ackerman. Realizing I hadn't told my own story, this week I recorded my journey to share with the community. Listen in to the lessons learned and advice I have to give that I've picked up throughout my time investing passively in real estate. Maybe my goals will be aligned with yours? Or maybe our "whys" will be similar. Perhaps you too are thinking about liquidating your 401k. Enjoy hearing more about my story. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Uncertain times can cause fear for investors, but it also presents opportunities for those willing to dive into the niches. In this episode, Logan Freeman, the Co-Founder of FTW Investments, joins Jim Pfeifer to discuss how to thrive in the current market: by focusing on asset classes that will thrive in any market. He also dives into mentorship and leveraging the learning curve to help move forward and grow. Plus, Logan shares why he shifted from multi-family to other asset classes. Learn more great insights by tuning in to this conversation!

This week’s episode featured Infielder Michael Son from Seattle, WA. Michael is working in the tech industry in his W2, but he is building his wealth through passive investing and by investing in a franchise that he and his wife will be running. Michael has been able to get into several different passive investments and diversify his portfolio by investing within a Tribe. He looks to continue to educate himself and network with more investors to develop more knowledge as well as sharing what he's learned with others.

Are you interested in holding an asset for the long term and achieving infinite returns? Then this episode is for you! Jim Pfeifer sits down with Elaine Stageberg to discuss everything from how to vet an operator, property management, and the proper mindset for success. Elaine also shares the inspiration, progress, and purpose of Black Swan Real Estate as a company that helps investors grow their wealth through investing passively in real estate. Tune in now to start building the path toward a life of prosperity!

This week’s episode features a spotlight on Tribevest, another one of LFI’s Preferred Partners. Tribevest is a collaborative, group investment platform that enables friends and family to organize as an investor group, pool money, and manage joint investments. Brittany Barchalk, Head of Marketing,at Tribevest, joined us to talk about the company and how they have been assisting Limited Partner Investors build wealth since 2018. She also shares a bit of her personal wealth building journey as she has taken her first steps in the passive investing industry. Brittany also shared exciting developments that Tribevest is planning to roll out in 2023 including a mobile app, the Open Tribe concept, and more. If you would like to connect with Brittany or anyone else at Tribevest, you can go on to their website at https://www.tribevest.com/.

Todd Nepola, the founder and president of Current Capital Group, has been in the industrial real estate niche for his entire investing career. In this episode, Todd joins Jim Pfeifer to share his financial journey and discuss how investing in just two niche asset classes in one market have been the key to his success. Tune in now and hear Todd’s story and plenty of golden nuggets of advice! To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field. Love the show? Subscribe, rate, review & share! https://leftfieldinvestors.com/podcast/

This week’s episode features a spotlight on Vyzer, one of LFI’s Preferred Partners. Vyzer is a digital private concierge service that provides a single online platform to manage, control, and monitor all of your investments. Danielle Greenberg, the Head of Marketing at Vyzer, joined us to talk about the tool they’ve developed for Limited Partner Investors to be able to add all of their investments in one location and replace the typical spreadsheet tracking that a lot of LPs manage manually. Danielle also walked us through several enhancements that are on the horizon for Vyzer in 2023 as well as future plans for the software. Enhancements include a new mobile app, an improved loan section to have complete visibility to all liabilities, and more. If you would like to connect with Danielle, you can reach her at [email protected] or you can find anyone on the team at their website https://vyzer.co/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field. Love the show? Subscribe, rate, review & share! https://leftfieldinvestors.com/podcast/

This is going to be a very different episode than normal. We are Left Fielders. We do things differently. A lot of people recognize the episodes with zeros. We don’t do that. We are recognizing Episode 101 because it’s the first of our next 100 episodes. That’s what we’re excited about. We are looking forward to the future, but we are also going to recognize the past. We are going to talk about where we have come from, what’s happened at Left Field Investors over the past few years and where we’re going. We are Left Field Investors. By definition, we are not conventional. We are not going to follow the crowd. We have been five guys trying to figure stuff out. It wasn’t intentional that we set up Left Field Investors but every time we have had success or passed a monument of some kind, we would figure out what the next thing is. That’s what we mean when we say we five guys figuring stuff out. We’re trying to do the best for the community and now - we’re 1,200 people figuring stuff out together. In this episode, we’re going to acknowledge the past with a keen focus on our future. Listen in as Jim Pfeifer and the Founders of Left Field Investors – Sean Donnelly, Steve Suh, Chad Ackerman and Ryan Stieg - share the beginnings of LFI, where we are now and most importantly where Left Field Investors is headed in 2023 and beyond!