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SECRETS TO REAL ESTATE INVESTING SHOW

Secrets to Real Estate Investing Podcast with Holly McKhann. Expert Real Estate Investor and House Flip Master.

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SREI 107: How to FIND Deals Part 1 of 4 by Holly McKhann

On this special episode of “The Secrets to Real Estate Investing”, Holly shares the very first step to flipping a house: FINDING the deal. In this four part podcast series, Holly explains the steps to completing a deal. This is the perfect opportunity to start taking action towards your first or next flip. Holly found and bought her first 100 houses on the courthouse steps. Once those deals dried up, she found a new strategy and has found over 125 deals from networking. In this episode you’ll learn: - Three networking techniques that have worked over and over again for Holly - How to set yourself up as the solution to people’s problems - How to leverage the networks you already have, and get out there and find more - The power of follow up and maintaining relationships Free download: Holly’s Secrets to Finding Deals document lists many more ideas to getting started networking and finding deals without spending marketing $$. Find it at hardhatholly.com/107 As always, text “hardhat” to 38470 to receive this free download as well as past downloads and to get weekly notifications of upcoming podcasts.

23mins

18 Jan 2019

Rank #1

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SREI 096 Take control of your life with real estate investing – Matt Theriault

Matt Theriault joins us today on “The Secrets to Real Estate Investing” with Hard Hat Holly. His interesting life path took him from the marines, to the music industry, to working as a grocery bag boy, and finally, to real estate investing. He was able to take control of his life and career and gain financial independence, and now, he teaches others to do the same thing. His signature motto is to “travel as far as you can see, and when you get there, you’ll see further”. By not being afraid to take action, Matt has found some amazing opportunities that have lead to his current success. In this episode, you’ll learn…         How to find someone to partner with in your investing journey         What steps to take as a beginning real estate investor         How investing out of state can bring high returns         How to shift your focus from saving cash to creating streams of cash Free Download—Matt has outlined five principles to be prepared to launch in any market. Don’t miss this valuable tool to expand your real estate investing to other markets. Contact— epicrealestate.com Podcast: epicrealestateinvesting.com

28mins

5 Jul 2018

Rank #2

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SREI 095 Tom Carafella flips 100 homes a year and has 300 rentals

Tom Cafarella from Boston shares his advice on this episode of “The Secrets to Real Estate Investing” with Hard Hat Holly. After starting his career in accounting, Tom realized he didn’t want to be stuck in a job he didn’t enjoy, so he started into real estate investing and now he never wants to take a day off from work. Tom took his “lucky” first deal with a helpful mentor, to a successful business that flips over 100 houses a year and rents over 300 units. He has plenty of strategies to share, including how to get profitable leads through targeted Facebook ads and cold calling. In this episode, you’ll learn…         The importance of a quality mentor         What price to offer to get the deal         How to get interested clients through targeted Facebook ads         How to build a marketing strategy to grow your business         How to create a strong team to help you along the way Free Download — Don’t know what ads to run on Facebook? Here’s an example of one of Tom’s most successful ads that can guide you in the right direction. Check out his Facebook page and websites for more tips to help your business— www.facebook.com/OceanCityDevelopment/ www.buildateamthatbringsyoudeals.com www.ocbuyshouses.com

35mins

5 Jul 2018

Rank #3

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SREI 125: Ryan Narus - How to Invest in Mobile Home Parks the Right Way

Today we have Ryan Narus on Secrets to Real Estate Investing with Holly McKhann. Ryan woke up one day and decided he needed to get out of corporate america and escape his sales job. Forty banks said no to his first deal, but learned valuable lessons. He says investors do not need to hit a home run on their first deal, just get started.  What you’ll learn from this episode: - Why you should know the submarkets for each area you are investing in - How to customize your marketing strategy for rentals - How to build trust with tenants to bring in more tenants - How to create a great community within mobile home parks Free Download: Ryan’s Due Diligence Template. Know what to check and double check if you’re going to invest in mobile home parks. Get it at hardhatholly.com/125 or by texting the word “hardhat” to 38470. Contact Ryan Narus: www.archimedesgrp.com 

37mins

24 May 2019

Rank #4

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SREI 0033 Hot opportunities in HUD homes with Larry Goins

On this episode of House Flip Masters Holly is joined by guest Larry Goins. Larry if from North Carolina and has been investing in real estate for over 30 years.  Larry first got started in real estate when he saw a seminar on TV, this seminar is what got Larry to catch the real estate bug. Larry has his real estate and general contracting licenses, he has done stoke brokerage. Larry has dabbled in all areas of real estate but really loves residential. Larry says that there two things that he hates in real estate which are: rehabs and tenants. Larry is currently doing 21 deals and says that the deals that he seems to lose money on are the rehabs. Larry also doesn’t prefer to deal with straight tenants because he prefers to do lease options or seller financing for tenants which he refers to as ‘Home Owners in Training.’  Holly asks Larry to share with listeners about HUD houses; which Larry is said to have wrote the book on. A HUD house is defined as Housing and Urban Development which FHA has insured a home loan on - FHA does not give the loan but they insure the loan. Part of your payment goes to HUD to insure that home, if the home loan goes into default HUD buys that home back. When asked why he likes HUD homes so much Larry says because there is no marketing that goes into it he does not have to make any calls or put out any bandit signs the homes are already listed and they are generally listed below market value. He also likes HUD homes because they have a PCR, Property Condition Report. A PCR basically lists the major issues with the home - a PCR will not list cosmetic issues with the house it will tell you if the pipes need to be replaced or the roof needs to be replaces. He also likes that a HUD house will already be cleaned out before it’s sold, for example if there were animals in the home and the carpet had an odor HUD will remove the carpet. Larry also likes that there are no deed restrictions on a HUD home and he loves that there is a lot of data available on these types of homes. Holly asks Larry to share with listeners where he finds his HUD homes. Larry says that all the HUD homes to be bought can be found at www.HUDHomeStore.com and each home that is listed on this website have an realtor already attached to them and the only people who can place a bid on these homes are licensed agents with a NAID, Name Address Identification Number, or a non-profit with an NAID number - HUD is a daily auction. When asked home the HUD home auctions work Larry tells Holly that all HUD homes go through this website, any agent that wants to place a bid on these homes has to be licensed in the state where the home is located as well.  Larry informs listeners that HUD homes for the first 15 days can only be purchased by an owner who intends to occupy the residence, investors cannot even bid on these homes within the first 15 days. Once those 15 days have passed investors can have their agent bid on the HUD homes if the investors agent submits a bid and does not hear back from HUD the next day the bid will automatically expire. When bidding on a HUD home Larry advises that it is vitally important to check the box that asks to keep the bid or to use the bid as a backup if the current offer falls through. If you place a bid HUD has the opportunity to counter your bid, when that happens you have 4 options: you can do nothing about the counter, you can counter back, you can submit a new bid, or you can accept their counter. Lastly, the third that can happen with a HUD home is that they accept your bid and now you own a HUD home.  Holly asks Larry how good the deals are on HUD homes; how much of a discount is he getting on these homes. Larry says that he has bought homes 20 to 103% a list. Homes are already listed very low which allows for a large profit margin. When asked how many of his 21 deals are HUD homes Larry says that of those 21 homes 16-18

32mins

14 Dec 2016

Rank #5

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SREI 0046 How Whitney Nicely did 50 deals with little to no money

On this episode of House Flip Masters Holly is joined by guest Whitney Nicely. Whitney has been called the Queen of Weird Real Estate in Eastern Tennessee.  Whitney started flipping houses in 2009 with her parents, her mother was a real estate investor and she knew that she would  become one herself. The first house that she flipped with her parents is when she fell in love with the process of flipping homes; she also fell in love with this particular house and ended up moving into it instead of her parents selling it. In 2013, Whitney and her brother were buying houses with cash, like her mom always did.  They bought 3 houses and one of them was a total loss.  With the two houses that they had left she realized that they had their life savings in them. Also, with only two houses she realized she was never going to get ahead.   Whitney knew she had to figure out a way to do real estate without putting any of her own money into the pot.  Since than Whitney learned about lease options and did her first deal in the Spring of 2014.  Although Whitney has only been using this method for the past 3 years she has done over 50 deals without having to use any of her own money. Currently she has 19 apartments and 7 chunks of land that she hasn’t had to use her own money to purchase.  Holly knows that a lot of people are interested in getting into real estate don’t have a lot of money which is why she is so excited to have Whitney share her success with listeners. Whitney says that her favorite way to purchase a home is through lease options, or as she refers to them as band-aids, because they can fix any situation.  Holly asks Whitney to share with listeners some situations in which a lease option is good choice.  Whitney says that when a house is over leveraged a lease option is a great choice to get a piece of property without using any of your own money.  Holly asks Whitney to share how a lease option works and what the process might be like. A lease option is an agreement that allows someone to rent the house with the option to purchase it at a point in the future at an agreed upon price today. Whitney shares that when she was a normal real estate agent she had her license for 18 months and only made $1,200 in 8 weeks using lease option she made $15,000 doing a lease option that she posted on Zillow.  Whitney shares with Holly that she recently found out from her lawn guy that he owned 13 properties, and after talking to him Whitney decided to buy a few of them from him. The first house that she bought was a cracked house-- the house was literally cracked and had been partially burnt. An interested party saw the listing and wanted to buy the house from Whitney.  She was able to turn her small purchase into big money by offering the right option to the buyer.  When her lawn guy found out that she turned around and made more money on it than he had initially charged her Whitney decided to give him a little more than she originally agreed to. The second house that she got from her lawn guy is not proving to be as successful as the first, but because it is not successful Whitney has decided that she is going to owner finance this house and put a big pink “Whitney buys houses” sign in the front and use it as advertising in that neighborhood. Whitney says that her bandit signs get her a lot of homes to look at so she is excited to see what this option will bring her.   She will actually own the land instead of renting billboard space.  When Whitney started doing lease options and owner financing she said that everyone else was working in one suburb so she decided to go the other direction and work in another county. She decided to do this so that she could get the experience and learn to play with the big boys in her neighborhood and have the portfolio to back it up. Holly mentions that Whitney has provided an awesome cheat sheet for listeners that will go over what she has talked

37mins

5 Apr 2017

Rank #6

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SREI 126: Insider Tips for Breaking into the Vacation Rental Industry - Rob Stephens

Rob Stephens joins us on Secrets to Real Estate Investing with Holly McKhann today. Rob is the co-founder of Avalara MyLodgeTax, the leading provider of tax compliance solutions for the vacation rental industry. Rob went from owning a vacation rental in Vail, CO, to creating  tax solutions for short term rental owners. Rob had to overcome some challenges starting out in vacation rentals, but he says it’s part of the journey. Now he makes it easy for investors to manage their short term rental taxes. What you’ll learn in this episode: - Creative ways to invest in short-term rentals - Which entities require a tax on vacation rental taxes - What you need to know about vacation rental tax as you get started - How to decide if you will manage the property yourself or hire a property manager - How to scale your vacation rental tax situation as your investments grow Rob’s FREE Download: Insider Tips for Breaking Into the Short-Term Vacation Rental Industry in 2019 - This guide will kick-start your vacation rental investing! Get it at hardhatholly.com/126 or by texting the word “hardhat” to 38470. Contact Rob: mylodgetax.com 

28mins

31 May 2019

Rank #7

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SREI 131: Michael Becker’s Multi-Family Investing Strategies

Today we have Michael Becker on Secrets to Real Estate Investing with Holly McKhann.  While pursuing a career in banking, Michael starting becoming an investor himself. His multi-family investing has really taken off. He now controls 5,700 units and has been the number one loan producer for his division at a Top 3 National lender for his last 3 consecutive years. What you’ll learn from this episode: - The value of starting small with your investing deals - How to strategize the renovation plan for rentals - The power of capitalization rate and how it works - How to learn what you need as you accumulate capital for your deals Free Download: Michael’s article, Fundamentals of Multi-Family Financing 101, will help you understand the basics of financing options for multi-family deals. Get it by filling out the form on this page or by texting the word “hardhat” to 38470. Contact Michael: www.spiadvisory.com Old Capital RE Investing Podcast: oldcapitalpodcast.com

30mins

27 Aug 2019

Rank #8

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SREI 129: Scaling Up Mobile Home Park Investing with Andrew Keel

Today Andrew Keel is on Secrets to Real Estate Investing with Hard Hat Holly. Andrew Keel is the owner of Keel Team, LLC and his team currently manages 14 manufactured housing communities across six states. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities. What you’ll learn in this episode: - The interesting stories you get from mobile home park investing - How to add value to mobile home parks - How to use seller financing to your advantage - How syndication in real estate works Free Download: Andrew Keel’s Due Diligence Checklist for Mobile Home Parks. Know where to start as you are checking out a mobile home park deal. Get it by filling out the form on this page or by texting the word “hardhat” to 38470. Contact Andrew: www.KeelTeam.com Podcast Interviews: www.keelteam.com/podcast-links

29mins

28 Jun 2019

Rank #9

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SREI 0038 What Sharon Houseworth did when her flip didn't sell

On this episode of House Flip Masters Holly is joined by guest Sharon Houseworth.  Sharon has been a real estate investor for just a couple of years which is exciting because she is newer and also successful at what she does. Before Sharon jumped into real estate she was in a couple industries. She worked with her mother who worked as a life and health agent - Sharon admits that this really wasn’t her thing. After that she went into the administrative field most recently a construction company which always had her interest. All of these jobs led her to property management and fixing and flipping.  When Sharon when was doing property management she says that she was kind of just thrown into it. Her family had always had rentals and when her mom got older she helped her to manage those properties. In 2009, her uncle passed away and Sharon inherited the 34 units that he owned and became the property manager for those properties. While she isn’t a licensed property manager she was still able to manage her own properties legally. Holly asks Sharon how much time these properties took for her to manage each week - 30 hours is what Sharon was working when she was managing these properties. She found that she had a lot of work because the properties had a lot of deferred renovations that she had to take care of and get up to date and up to code to make sure that she was protected as well as her tenants. Sharon until recently was managing these properties on her own, calling maintenance when things needed to be fixed and collecting rent from the tenants. Sharon recently turned over her property management to a licensed property manager so that she could free up her time. Sharon says that all of her time as a property management has taught her a lot but decided that she needed to move forward and do something different.  After the passing of her mother Sharon recalls hearing a commercial on the radio about learning going to a seminar to learn to fix and flip so she decided to do it. Sharon says that learning to fix and flip has been completely life changing for her.  Holly asks Sharon to share with listeners how she found a deal in Fallbrook that coincidentally ended up being on the same street as a flip that Holly was working on. Holly asks Sharon to share her insight on this deal, as well as her need to adapt to certain elements of this specific deal. Sharon found this deal by getting involved in an investment club for women after completing a 60-day challenge that they offered. From that challenge came this deal, Sharon was called by a realtor about this deal - this property that she was tipped off on was that this property was going to go to auction in 3 weeks. Sharon says that one of the biggest thing that she’s learned is that people come before profit and she was so happy to do this deal because she was able to help the man this man by keeping a foreclosure off his record, his house out of auction, as well as giving him $40,000 in his pocket at the end of the day. Sharon called some investors who might be interested in investing as well as investing in this area which is a little off the beaten path. Sharon cashed out an annuity as well as had a hard money lender who was willing to take a chance on her with her first deal. Sharon decided that she wanted to do this deal with her own money so that if she made a mistake, she would rather do it with her own money. Holly reminds Sharon and listeners that there is no such things as win or lose when it comes to a deal it is win or learn because you don’t know what you don’t know and the only way you will learn is by making those mistakes and that each realtor has bumps in the road and for those bumps they are made smarter. With this property Sharon needed to extend on it twice and was only charged 1 point on the second extension. Holly reminds listeners that there is always a charge for an extension. Sharon owned this property for close to a year when she d

41mins

3 Feb 2017

Rank #10

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SREI 083 Starting with a $100 property purchase to becoming a master of Creative Financing with investor Adam Adams

In this episode of “The Secrets to Real Estate Investing” with Hard Hat Holly, we get the opportunity to meet real estate investor and podcaster, Adam Adams.  Just like many of our guests, Adam read “Rich Dad Poor Dad” and, with the help of his own father, learned about the power of positive cash flow and caught the infectious real estate bug.  Believe it or not, this man’s career began with the purchase of a $100 property in 2005.  Adam went on to manage large multi family properties and then began to purchase these types of properties himself.  In this information packed conversation, you will hear Adam explain how a few big failures and humbling experiences helped shape him and contribute to his success in real estate.  We dive deep with Adam and learn the various strategies he’s implemented within his business, such as owner financing, no money out-of-pocket deals, implementing other people’s money, tax liens and tax deeds.  If investing in real estate is your dream, there is only one way you can make it a reality…just get started!!!  So go out there, take action, and live the life of your dreams! In this episode, you’ll learn about… The pros and cons of managing your own properties and Adam’s advice and tips The pros and cons of renting and doing business with friends and/or family Why it should be called “winning and learning” instead of “winning and losing” Multi family investing and syndication How to contact Adam Adams  Website: BlueSpruceHoldings.com Podcast: RealBlueSpruce.com    “The Creative Real Estate Podcast” Email:     realhelpfulsolutions@gmail.com As always, text “hardhat” to 38470 to receive this free download as well as past downloads and to get weekly notifications of upcoming podcasts. I'd LOVE for you to listen in today and write an iTunes rating and review letting me know what you think of the podcast – What was your biggest takeaway from the first episode you listened to? What do you love most about the episodes? What would you like to hear more about? Please share with us!  And thanks for listening!

35mins

9 Feb 2018

Rank #11

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SREI 058 S Corp, LLC or nothing? Matt Owens talks entities

How does one go from getting lucky with a few real estate investment deals in 2006 to taking “a punch in the teeth” in ‘07 and ‘08 to flipping over 600 properties to date? What is the secret to this man’s success?  Our guest today is Matt Owens, CEO of OCG Properties, LLC.  According to this former CPA and UCSB graduate, the answer is education and experience, coupled with the importance of networking and relationships.  Matt explains his unique perspective in how losing money is what “compounded his growth exponentially forward.” He has observed that “if you haven’t taken a hit, you haven’t been in the game long enough.” What an inspiring thought to ponder on!  Matt is based in Southern California but invests primarily in Memphis, TN and Atlanta, GA specializing in equity and cash flowing real estate investments.  He also invests in value add multi-families, promissory notes, seller financing for his international clients, self storage units, mobile home parks and the list just goes on!    On this episode, you’ll learn… The importance of networking and relationship building and why this business is ALL about these relationships The benefits of investing out of state (especially if you reside in California!) and how this forces you to implement air-tight systems in your business The pros and cons of setting up an entity and the tax and legal implications of your choice The benefits of an SCORP vs an LLC in general and specifically having to do with salary dividend splits and your payroll taxes Episode resources: Ocgproperties.com Contact Matt Owen here: invest@ocgproperties.com Free download Matt has very generously given our listeners his list of questions to ask yourself before setting up an entity.  Just text 38470 with the word “hardhat” to get our super awesome free download of the week!

34mins

28 Jun 2017

Rank #12

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SREI 0034 How Valerie Clark escaped the rat race with passive income

On this episode of House Flip Masters Holly is joined by guest Valerie Clark. Valerie has escaped the rat race through investing in real estate. Valerie is based in Southern California where she does most of her real estate deals.  Before Valerie got into real estate she worked in marketing for 20 years and when it was over she decided that she wanted to be self employed and knew she wanted to get into real estate - when she got into real estate she knew that she wanted to stay in and that’s where she finds herself today. Valerie says that real estate had always been a passion of hers and she’s glad she got out of the rat race and now employs herself.  When asked about her first deal Valerie says that she started very early by purchasing in her hometown of Hermosa Beach, California. Valerie recalls that this lot was a dump that it had an ocean view - she even recounts that she had buyers remorse after purchasing this home. Eventually when Valerie was done living there she split that lot on paper and hired an architect and made plans for 2 units and then she sold the plans.  Around 2000, Valerie was no longer working in marketing and was looking for real estate full time when she came across a building in Long Beach that she liked. When the property was in escrow Valerie again for buyers remorse and admits that she was nervous and scared of the deal and ended up giving away two-thirds of the deal. Valerie says that she doesn’t feel bad about giving any of it away because she knew that she was partnering up with two people who knew what they were doing. The three decided that if after a year things weren’t working out that they would sell the property and go their separate ways and that’s exactly what happened - Valerie walked away from that deal with a $100,000 check. When she inquired about the woman who cut her the check she learned that the person who bought the property from her and the two other partners was making much more money than her $100,00 check Valerie decided that’s what she wanted to get into condo investing. Valerie decided to start research condo investing so that she could start investing in them - after that she bought 2 properties that had 16 units each in Long Beach.  After working with condos Valerie dabbled in house flipping until those deals disappeared from the market where she was flipping in. Valerie says that she became desperate for a deal because of the way that the market was going and she said she was bleeding to death looking for a piece of property that would help to pay her bills.  Holly asks Valerie to share what happened when things were not working out for her in Long Beach and Orange County areas before she decided to move to Central California. While Valerie really liked the Long Beach area she had a friend who was a parole officer who mentioned to her that the parole office was looking for housing for parolees - this did not interest Valerie at all, but when her friend told her that the government would pay for this housing she started to think differently about the opportunity being presented to her. Valerie ended up buying a house in Long Beach that qualified for the parameters of the parolees where they could and could not live - she bought the home and fixed it up, as well as furnish it. She recounts that before she could even finish fixing up the home she had 6 people waiting with cash in hand wanting a place to stay. Valerie really got into this area of real estate and continued to buy houses to continue to house parolees, but eventually she ran out of money. When this happened she went to a hard money lender to refinance her house so that she could get another property. When Holly asks how Valerie felt about having parolees as tenants, Valerie says that the people staying at her homes were very respectful and she doesn’t regret doing these deals. After 7 years of housing felons Valerie mentions that she did sell one of her properties to Holly and Ho

39mins

6 Jan 2017

Rank #13

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SREI 086 DJ Scruggs- From a tech career in the corporate world to multifamily real estate investing

30mins

28 Mar 2018

Rank #14

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SREI 087 Making $15k/mo with Airbnb. Zeona McIntyre

In this episode of “The Secrets to Real Estate Investing” with Hard Hat Holly, we’re excited to talk with super woman and side hustle queen, Zeona McIntyre. This Boulder, Colorado resident has built a business that generates $10-18k per month through her portfolio of vacation rental properties and her “co-hosting” service for other property owners. Wise investing and services like Airbnb have afforded this young woman the ever illusive early financial freedom. Zeona began her journey during Airbnb’s infancy in 2012, first by subletting a room in her apartment, then both rooms in her apartment, and now she owns five rental properties and manages another 20 on the behalf of her clients around the world. On this super fun and enlightening episode, you’ll discover how Zeona began her real estate journey with a whole lot of couch surfing, frugality, business smarts and hustle. Join us today as we dive deep on this and her wealth of knowledge when it comes to the power of Airbnb and short-term rentals. This episode is sure to blow your mind with real estate’s endless possibilities, so sit back and enjoy the show! In this episode, you’ll learn about… How short-term rentals can provide significantly more cash flow than traditional rentals Zeona’s numerous tips and tricks for getting the biggest bang for your buck How you can get started in this location independent side hustle today with just a spare room in your home Why you have to think of business partnerships like marriages, the importance of having solid contracts (JV agreements), and the pros and cons of doing deals with your friends Why real estate investing should be thought of as solving problems for profit All of the ways in which Airbnb and short term rental investing is different than traditional investing How to contact Zeona Website and blog: www.ZeonaMcIntyre.com The website that Zeona uses to help price her rentals is www.usewheelhouse.com . A great resource for investors!           Free Download: Listen to the podcast here at … www.hardhatholly.com/87 As always, text “hardhat” to 38470 to receive this free download as well as past downloads and to get weekly notifications of upcoming podcasts.

27mins

2 May 2018

Rank #15

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SREI 0039 Damion Lupo's rollercoaster ride from zero to $20M

On this episode of House Flip Masters Holly is joined by guest Damion Lupo. Damion is an entrepreneur at heart starting his first business at age 11 – since than he has started 30 more businesses. Damion is also the founder of his own form of martial art, Yokido. Damion paid for his first rental house on a Visa card and bought 150 more houses in a 7-year time span and then went through a $20 million dollar meltdown in 2008. Today Damion runs an Austin-based FinTech dedicated to disrupting Wall Street. He has written 5 books and 2 more are being released in 2017.  Damion got the entrepreneur bug when he was a young boy in Alaska buying and selling Nintendo games. When he got older Damion went to college and was asked to leave because he started a bookstore on the campus that was putting the college bookstore out of business. When Damion went through his business meltdown in 2008 he was working on buying properties because he wanted to do one deal where he would get paid multiple times over because the ides of flipping homes and getting paid once did not appeal to him – Damion wanted to become the bank, he wanted to go home and still have his money make money for him. Damion became very successful with this strategy and kept plugging away. Holly asks Damion to share with listeners what happened with his business when the crash happened and what he did after that. Damion shares that in late 2006 he was involved with 7 different projects - homes near Graceland, a condo development - but a year later he was dealing with foreclosures and lenders backing out. Damion learned from this that plans can be good but when you are faced with things that you can’t see or plan for you find out who you really are. When the crash happened Damion starting giving money back and properties back and started to unravel the mess that he was in. Damion admits that after the crash he ignored what happened for a few years and acted like it didn’t happen until he realized that he needed to face the music. When a person goes through a tragedy they need to fix it from the inside out, he needed to realize what was going on with himself so that he could heal from the crash and learn from it and make sure that it didn’t happen to again. Damion says that in his business he feels that it is important to work with people who have experienced a bad deal or something gone wrong because when things don’t go as planned he wants to make sure that he is working with someone who is able to stay on top of their game when the plan falls through. Holly asks Damion to explain what he means by the green and red arrows of wealth. Damion says that in real estate you mostly see just green arrows going up. Damion met a woman who was always watching the news and looking at the stock market, seeing the green arrows and red arrows – she felt that when the market was good she wanted to celebrate and when the market was bad she wanted to get out. Damion helped her to get off the Wall Street rollercoaster to a point where the green and red arrows no longer mattered to her and she did not watch the news anymore to see where she stood financially. Holly asks Damion to explain what he means by the Wall Street rollercoaster, he says that when you are investing you want to be actively involved in your investments and that you should not just check out. Damion likes precious metals because you can control them, the Wall Street rollercoaster is things you cannot control, and you are subject to fees and manipulation that you have zero influence over. Holly wants to know Damion’s take on retirement and why he hates the word ‘retirement.’ Back in older times retirement was related to machinery or animals no longer being of use and they would get rid of them. People are so happy to retire and basically happy to be done and stop contributing to the universe. Damion says that what people need to be doing is setup for financial security and financial freedom so

37mins

18 Feb 2017

Rank #16

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SREI 0028 From $28k/year employee to freedom in house flipping with Kristi Cirtwill

On this episode of House Flip Masters Holly is joined by guest Kristi Cirtwill. Kristi is a native of Canada who has come to Southern California to flip homes and invest in real estate. Kristi moved from Canada 10 years ago and before her move and before real estate investing Kristi tried her hand in several fields of work, Government, corporate, non-profit, before she realized that she wanted to do something differently. After reading Rich Dad, Poor Dad she realized that she needed to figure out how to get into real estate investing and make it work. She knew that she could make a business of real estate investing in California and decided to make the move.  Kristi started out wholesaling and did not know a lot of people so she joined the Real Estate Investment Clubs, she also got on Craigslist to find hard money – she got out there to just meet as many people as she could so that she could get to know the business. Kristi went to open houses and networking events so that she could educate herself and make contacts in the business. Holly and Kristi discuss hard money and what it takes to get that money, reminding us that as real estate investors you often times cannot get money for free without some of your own money in on the deals. Holly says that without hard money lenders real estate investors probably would not do as well without them. When asked about private moneylenders, Kristi says that she does use private money; often time money to cover what the hard moneylender did not cover. Kristi says that some of her private moneylenders are just regular people that she meets at the Real Estate Investing Clubs. Holly reminds us that when seeking a private moneylender it is helpful to use someone who knows you and someone who trusts you because without a track record in real estate people might not be so keen on lending private money. Kristi suggests starting with hard money first because this is their business and you have to treat their money like it is your own. With a private lender you want don’t want to take someone’s private money and not know what to do with it. Holly asks Kristi to share how she calculates her profit goal per deal. Kristi works with homes that are under $1 million, when calculating her profit she has a formula that runs her numbers. Kristi factors in the remodel costs and adjusts the purchase price so that the property gives a 10% return of the resale price per deal. Holly asks Kristi what she likes most about house flipping. Kristi obviously likes being successful in real estate investing but she also prides herself in the jobs that her investments create; the teams and people that she needs to complete a flip. Knowing that she is creating jobs for those in her community is something that she really enjoys about house flipping. Holly asks Kristi to share some tips that have helped her to be successful in real estate investing; Kristi says that she does not give up. It was helpful to het to find investors that were successful in this business so that she could learn from them and see that the end result would be there if she did not give up. She recommends focusing on the next deal and making sure that you are networking to obtain more resources. Work hard in the beginning so that as time progresses your work becomes more systematic and the job becomes easier and more manageable. Kristi found her deals in the beginning by networking and 90% of her properties were coming of the MLS, now Kristi still uses networking to find her deals – about 50% come from realtors, the properties she gets now are ones where the seller wants discretion in their sell. The other half of her deals come from word of mouth and direct sellers. Holly asks Kristi to share what it is like to be a woman in the business of real estate investing, Kristi says she did not let the male dominated business stop her, she feels that

32mins

8 Nov 2016

Rank #17

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SREI 0041 The "homeless millionaire" Mike Wolf and his freedom lifestyle

On this episode of House Flip Masters Holly is joined by guest Mike Wolf. Mike has been investing for 27 years, Holly says that Mike is super laid back unlike most of the real estate investors who hop from one deal to the next. Mike is going to share with listeners his 27 year story.  Mike started in real estate entirely by mistake. Once upon a time Mike followed his mother’s dream of Mike becoming a lawyer - so Mike went to school and he racked up a lot of debt. Before going back to school he got a job at the phone company and that is when Mike bought his first property with no money down. Two years later Mike was still working at the phone company and paying off his student loans and the market started to take off and he found himself sitting on a good amount of equity. Mike admits that at that time he didn’t really love his job and figured that if he did this deal by mistake what would happen if he did it on purpose? Mike decided that he wasn’t going back to law school and also decided that he was going to qui his job at the phone company and continue to buy properties - so that is what he did. Mike didn’t want to take two years to get another property so he decided to fast track his property buying which ended up hurting him. Mike admits that at one point he thought he was a know-it-all and from mishaps with his fast track ideas he turned into a person who wanted to learn it all.  When Mike quit his job at the phone company working 8 hour days to working 16 hour days and was really starting to love his job until one day he started to not like the real estate business so much and was concerned that he didn’t think he could do it anymore and the passion started to disappear. It was at that point that Mike decided that he needed to figure out how to work smarter not harder so that he didn’t lose the passion that he had in real estate and so that he could get his life back. At that point he decided that he needed to hire people to help him manage his properties. At that time Mike was working in Canada doing everything but wanted to branch out in the United States which forced him to hire a property manager which he admits was hard to do because as an entrepreneur he wanted to do everything and entrepreneurs often have a hard time delegating work to other people. Mike found that by having a property manager they were able to do the job better than he would have been able to and in doing this he was able to get his life back. Now that Mike has all this time on his hands he enjoys traveling, spending time with his family, and volunteering. Mike says that he wants to help other entrepreneurs to get their lives back so that they can work smarter and not harder.  When Mike first started his real estate investing with a longterm approach and really purchased another property aside from the one he lived in as his retirement plan. Mike had quit his job and realized that he needed to get busy and find more deals so that he could make more money so that he could continue living his lifestyle and not have to go back to law school or go back to work at the phone company. Mike realized that he didn’t know what he didn’t know so he went out and networked so that he could educate himself and get those properties that he wanted and put his systems in place so that he could continue to make money. Mike’s friends call him “The Homeless Millionaire” because he is always on the go staying in hotels and chasing the sunshine. Mike prides himself in not taking on any deals or projects that are stressful - he only does the deals that he wants to do. He enjoys teaching others about how to do what he is doing. Holly asks Mike how his buy and hold deals work. Mike says that you need to have cash to do this but it doesn’t have to be your money. There are people who have liquid cash, or money in their retirement funds that are willing to loan you that money as long as you make the loan worth their while. Mike suggests

35mins

8 Mar 2017

Rank #18

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SREI 0030 From barely scraping buy to financial freedom with Cody Hofhine

On this episode of House Flip Masters Holly is joined by guest Cody Hofhine. Cody is a wholesaler based out of Utah, who is having great success with only 2 years in the business. Cody’s real estate investment journey started when he was working in insurance. After one year of work Cody brought home only $19,000. He realized that this wasn’t enough money and he needed to do something else, Cody attended some REA events where he learned about wholesaling and he fell in love. He started in May 2015 and in just 36 days he made more money on one deal than he did in a year of work. After seeing how good his first deal went he knew there was no turning back. Cody finds all of his deals within five major counties in Utah. Cody and his team pride themselves on establishing relationships and trust with the sellers to let them know who they are and what they do. Cody feels that the face-to-face experience is one that produces more results and helps to build types of relationships that phone call conversations do not. When hiring a team Cody says that you need to think of all the things that you hate and all the things that you love and hire out all of the things that you hate and eventually all of the things that you love so that your business becomes fully automated. Cody uses people in the Philippines to help out with the tasks that he does not want to do or have the time to do. Cody reminds us that there are people who love to do the things that we hate to do, he uses the people from the Philippines to help with his calendar, list scrubbing, and marketing. Holly asks Cody how he finds his help and he her that he uses a website www.UpWork.com - you create an account, make a job posting and interview by creating a task for them to complete. Holly asks Cody how he gets his deals, he tells her that he started with direct mail and he continues to do direct mail doing 65,000 pieces every month! He also uses Pay per Click, Facebook marketing, bandit signs, door hangers, etc. Cody has his hands on several different ways to get out there so that he can get the maximum amount of deals a month. He says that he would not be willing to spend so much money on marketing if he the return on the investment wasn’t as great as it is. Cody discusses Facebook marketing and how direct the advertising is. Facebook can be geared to specific individuals, zip codes, and audiences. Facebook will send your ad to the exact audience that you want your advertisement to go to. Cody’s best advice for people that are new to real estate investing is that real estate is a phenomenal market to be in and that there is no bad time to get into real estate! Get involved today no matter the state of the market. He also advises that you do not reinvent the wheel, there are so many successful people in this business that you can use as a resource to get educated that can help you start your business at a higher level than if you tried to start from scratch. If you are interested in getting in touch with Cody to learn more about wholesaling visit www.InvestorGrit.com - they deliver content and education about wholesaling, as well as offer the opportunity to chat with someone from the team. Cody also has a podcast called Wholesaling Inc by Investor Grit https://itunes.apple.com/us/podcast/wholesaling-inc-by-investor/id1051156990?mt=2 You can also subscribe to the Investor Grit YouTube channel https://www.youtube.com/user/adambubble

27mins

22 Nov 2016

Rank #19

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SREI 0043 Buddy Broome bought a property worth $550K for $900K and is loving it!

On this episode of House Flip Masters Holly is joined by guest Buddy Broome. Buddy is one of many real estate investors who does real estate investing on the side. Buddy works full-time as an attorney and an investor he was introduced to investing as a young man in high school through his father. Buddy’s  dad told him about the first property he purchased; his dad couldn’t afford to purchase a property so he approached the owner and asked if he could make payments on the property and the owner agreed because he knew that Buddy’s father was an upstanding, honest man who would pay for the propertu At the time Buddy felt that what his dad did was not the smartest way to invest but as he got older he says that his dad’s story taught him 3 important things. The first thing Buddy tells us is that his father’s story reminds him that you have to ask for what you want, second is that you can be a real estate investor with very little to no money, and lastly your reputation matters.  After high school Buddy went to law school and got a job with a big law firm in Los Angeles, he felt that the only way to earn money was to climb the corporate ladder and put away money into a 401K and eventually he would be able to retire comfortably. One day his wife introduced him to the book “Rich Dad, Poor Dad,” Buddy was not interested in what the book had to offer and felt that it was stupid. His wife left the book laying around and Buddy decided to check it out, 48 hours later he flew through the book and decided that he needed to talk to people and get the ball rolling because this book really spoke to him.  Buddy read the book and took some investing classes before he and his wife decided to purchase their first property in August of 2008. It was in September of 2008 that Lehman Brothers crashed and their dreams of becoming overnight millionaires were smashed. From that point Buddy and his wife had to change their lifestyle and become really frugal. When the crash happened all of the surrounding properties in his area had become very cheap and he decided that he wanted to make another purchase but was having a hard time with the income that he was generating.  Buddy was introduced to a group called FIBI (For Investors By Investors), the gentleman who lead the group, Ellis San Jose, offered to mentor Buddy and his wife on how to make investing work for them. Ellis then introduced them to two men, Gary Johnston and Clyde Wilson, who he insisted that Buddy and his wife take their class. Buddy says that this 3-day class changed his life. Slowly but surely Buddy and his wife have been building what he refers to as his ‘snowball’ - buying one property at a time. Holly asks Buddy if he has ever purchased a property with no money down, and he says that he has. He learned about no money down in his first deal. In his first deal a third party investor asked him if he had the money, which they did, but he was told that if they didn’t have the money that they would find them someone who did for him. Buddy reminds listeners that when you are hoping to not use your own money down, that the deal needs to be a good one and worthwhile to the lender. If you have a mediocre deal it will be hard to get someone else to put their money down on that deal.  Buddy reminds listeners that when you are wanting to buy a property you need to not ask how much a house is, or how much money you can make on it but the most important question about buying a property is why is that property being sold?  As Buddy recounts for Holly one of the first deals that he made and all of the hoops he had to jump through to make it happen, Holly asks if Buddy was using a financial calculator during the time that deal was taking place. Buddy says that during the time at the table with the sellers Buddy did not pull out a financial calculator because he prefers to have the other party do the math to keep it as simple as possible and to make sure that t

36mins

16 Mar 2017

Rank #20