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Business
Education
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Apartment Building Investing with Michael Blank Podcast

Updated 9 days ago

Rank #89 in Investing category

Business
Education
Investing
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Invest in Apartment Buildings with Private Money

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Invest in Apartment Buildings with Private Money

iTunes Ratings

388 Ratings
Average Ratings
338
25
11
5
9

Educational and insightful

By jamespatrickjp - Aug 07 2018
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Great podcast with high quality guests and a good mix of education and inspiration

Great content and delivery!

By timhubbard - Jul 31 2018
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Thanks Michael for putting out such great content and delivering it so well!

iTunes Ratings

388 Ratings
Average Ratings
338
25
11
5
9

Educational and insightful

By jamespatrickjp - Aug 07 2018
Read more
Great podcast with high quality guests and a good mix of education and inspiration

Great content and delivery!

By timhubbard - Jul 31 2018
Read more
Thanks Michael for putting out such great content and delivering it so well!
Cover image of Apartment Building Investing with Michael Blank Podcast

Apartment Building Investing with Michael Blank Podcast

Latest release on Jan 10, 2020

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Invest in Apartment Buildings with Private Money

Rank #1: MB 188: STOP Saving Your Money & START Investing in Multifamily – With Grant Cardone

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Do you have your money right? Or are you handing it over to Wall Street and hoping for the best? What if I told you that the secret to true wealth is to STOP saving your money and START using it to invest in real assets—like multifamily real estate!

Grant Cardone is the CEO of Cardone Capital, a multifamily real estate investment firm with more than $1.36B in assets under management. He is also an international speaker and bestselling author, well-known for creating the 10X Movement and 10X Growth Conference. Grant was named the #1 marketer to watch by Forbes, and he is a widely respected entrepreneur who owns and operates seven privately held companies.

On this episode, Grant joins me to share what he’s investing in now, discussing what kind of returns he expects on multifamily deals. He walks us through a day in the life of Grant Cardone, sharing his secret to work-life balance, his definition of true wealth, and his thoughts on the importance of spirituality. Listen in to understand what is driving Grant to build a legacy and learn how his Reg A fund serves non-accredited investors.

Key Takeaways

What Grant’s investing in right now

  • $473M portfolio in 5 properties, 2K+ units
  • Well-located and institutional quality
  • Deals with competition (list of buyers)

Why Grant avoids value-add multifamily deals

  • Lack of salary growth in America
  • ‘Value-add story will hit limits’

The returns Grant expects from multifamily investments

  • 5 to 6% cashflow, 15% IRR
  • $40M down becomes $135M in 30 years

Why Grant started a Reg A fund with $5K minimums

  • Moral issue to support ‘little guy’
  • Not true that < sophisticated, more trouble

A day in the life of Grant Cardone

  • Time for gym, self-improvement
  • Shut down work at 6pm for dinner

Grant’s secret to work-life balance

  • Don’t invest in anything with potential to lose
  • No worry more important than high returns

How Grant’s approach to money has changed

  • Used to scrounge, act like miser
  • Now use money to make life easy

What drives Grant to keep growing

  • Legacy for family, change community
  • Produce something of value = live forever

Grant’s insight on taking it to the next level

  • From $90M deal to $900M
  • Good friends will challenge

Grant’s definition of wealth

  • Money, time, love, health and purpose
  • Continuous learning = expansive

The role of spirituality in Grant’s life

  • Spirit comes before and after body
  • Best ideas come from beyond mind

Grant’s advice for ABI listeners

  • Get your money right (use, don’t save)
  • Invest in real estate with someone you trust

Connect with Grant Cardone

Grant’s Website

Cardone Capital

Resources

Cardone University

10X Growth Conference

Grant on Lewis Howes’ Podcast in 2017

The 10X Rule: The Only Difference Between Success and Failure by Grant Cardone

The Millionaire Booklet: How to Get Super Rich by Grant Cardone

Robert Kiyosaki on Apartment Building Investing EP160

The Real Estate Guys

What’s the Best Investment: The Stock Market or Real Estate?

Nighthawk Equity

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Nov 11 2019

40mins

Play

Rank #2: MB 186: The Predictability of Passive Investing in Multifamily – With Spencer Hilligoss

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W-2 jobs give us a sense of security. But what happens if you lose your job or can’t work due to illness or injury? Spencer Hilligoss wanted to play financial defense and build enough passive income to keep the lights on for his family should something unexpected happen. And though real estate gets a bad rap for being a risky investment, Spencer discovered that multifamily is actually very predictable. In fact, it’s the best kind of boring! 

Spencer has 13 years of experience in tech startups, building high-performing teams across five companies—three of which valued at more than $1B. He currently serves as the Senior Director of Professional Development for LendingHome, the largest residential flip lender in the country. Spencer is also the Cofounder and Principal at Madison Investing, a real estate education platform dedicated to helping busy professionals build passive income, and a contributing writer and member of Forbes Real Estate Council.

On this episode, Spencer joins me to explain how the ‘dark decade’ he endured as a young man inspired him to pursue passive income through real estate. He shares his approach to financial planning, describing how he and his wife set goals and analyze deals together. Listen in for Spencer’s insight around the benefits of passive investing in multifamily over SFH strategies and learn exactly what he looks for in a sponsor, a market and a deal.

Key Takeaways

What’s keeping Spencer at his W-2 job

  • Take care of team at work
  • Don’t want to pull ripcord too soon

How Spencer got into real estate

  • Dad was top-performing real estate broker
  • Brother’s death + parent’s divorce led to bankruptcy
  • Pursue real estate to play defense financially

The Silicon Valley wealth playbook

  1. Join early stage tech startup for equity
  2. Work 16-hour days
  3. Pray for liquidity event
  4. Save for retirement (can’t access)

Spencer’s path to multifamily investing

  • Tech startup lends to real estate investors
  • Get educated and compare strategies
  • Built SFH portfolio of 7 (not passive)

How passive investing in multifamily differs from SFH

  • Analyze deal and build relationships up front
  • Double money in 5 years, don’t lift finger to manage

Spencer’s approach to financial planning

  • Based on being great parent, giving back
  • Work toward $8K/month passive income

What Spencer looks for in a sponsor

  • Track record (trustworthiness, grit, etc.)
  • Approach
  • Team
  • Communication

Spencer’s advice for new syndicators

  • Leverage partnerships and coaching
  • Borrow credibility from experienced investors

What Spencer looks for in a market

  • Strong job growth
  • Employers = counterweight to correction

What Spencer looks for in a deal

  • Specific plan to add value
  • Firsthand photos/videos beyond pro forma

What’s next for Spencer

  • More active to accelerate timeline
  • Scale impact through educational platform

Connect with Spencer Hilligoss

Madison Investing

Spencer On LinkedIn

Email spencer@madisoninvesting.co

Resources

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money—That the Poor and Middle Class Do Not by Robert T. Kiyosaki

City-Data

Department of Numbers

What’s the Best Investment: The Stock Market or Real Estate?

Nighthawk Equity

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Nov 04 2019

49mins

Play

Rank #3: MB 151: Uncovering Off-Market Multifamily Opportunities for Unlimited Deal Flow – With Cory Boatright & Sean Terry

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In a climate where good deals are hard to find, off-market opportunities are key for multifamily investors. But how do you find property owners who might be willing to sell? And once you’ve tracked them down, how do you leverage marketing strategies to get their attention—and inspire them to pick up the phone and call YOU?

Cory Boatright and Sean Terry are experienced single-family wholesalers in the Oklahoma City and Phoenix markets, respectively. Together, the pair stumbled into a multifamily flip that proved challenging. And though they would never do it again, Cory and Sean earned a multiple six-figure profit on the deal. Now, they are pursuing multifamily buy-and-hold as a strategy through Investing Capital Group, a firm focused on finding off-market properties for its capital partners.

Today, Cory and Sean join me to explain how they got involved in a multifamily wholesale deal, discussing what they did right as well as the extreme adversity they faced in route to closing. They share their process for finding off-market deals, offering insight around the resources available for pulling lists of potential sellers and collecting their contact information. Listen in for advice on handling an influx of incoming calls and learn how Cory and Sean leverage unique marketing strategies to earn a 100% direct mail open rate!

Key Takeaways

Cory & Sean’s real estate resumes

  • Cory = wholesaler in OKC since 2013
  • Sean = 15 years as wholesaler in Phoenix

How Cory & Sean stumbled into a multifamily deal

  • Lead on property in AZ, tracked down owner
  • Property under contract direct to seller

What Cory & Sean did right in their multifamily flip

  • Built in extra time (60-day due diligence)
  • Built in extension for $50K

Cory & Sean’s approach to finding a buyer

  • Use ListSource to find potential buyers
  • Send marketing packet via FedEx (delivery notification)

The challenges Cory & Sean faced in route to closing

  • Buyer stalled to postpone nonrefundable date
  • Ramifications of failing to disclose reduction in price

Why the multifamily flip was successful despite the challenges

  • Multiple six-figure profit
  • Learned do’s and don’ts

Cory & Sean’s process for finding off-market deals

  • Pull data from ListSource to find sellers
  • Use Skip Trace Lists for contact info (20¢/record)
  • Cold call, direct mail and target on Facebook

How to handle the influx of incoming calls

  • Hire answering service like PATLive
  • Hire in-house or local staff (build relationships)

Why you can spend more on direct mail for multifamily

  • Fewer leads in particular area
  • Critical to get attention of decision-maker
  • FedEx with signature request = 100% open rate

Connect with Cory & Sean

Investing Capital Group

Real Estate Investing Profits Podcast

Resources

ListSource

Skip Trace Lists

PATLive

CoStar

Dan Kennedy

John Carlton

Michael’s Mentoring Program

Partner with Michael

Invest with Michael

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Podcast Show Notes

Review the Podcast on iTunes

Michael on Facebook

Apartment Investor Network Facebook Group

Michael on Instagram

Mar 08 2019

40mins

Play

Rank #4: MB 168: MAKE the Time for Multifamily & Quit Your W-2 Job – With Anna Kelley

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Don’t think you have the time to start investing in multifamily? Anna Kelley is a wife and mother of 4 who worked a demanding full-time job AND built a real estate portfolio on the side, working 82 hours a week for nearly 5 years. She argues that sacrificing your time for a couple of years to buy yourself decades of financial freedom is well worth it. But you’ve got to be willing to take consistent action—even when it’s hard.

Anna is a seasoned real estate investor with a rental portfolio valued at $12.5M. She is also an Amazon bestselling author and sought-after speaker in the realm of buy-and-hold investing, creative financing, vacation rentals, women in real estate, and multifamily investing. Anna has coached several new investors through their first deal, and she is dedicated to educating others on the benefits of multifamily real estate investing.

Today, Anna joins me to discuss how she executed on a 5-year plan to quit her job with real estate investing. She shares her new emphasis on work-life balance, explaining how she is still working hard but making time to focus on her health and family. Anna also offers insight on why she struggled with the decision to quit her job and how that uncertainty inspired her to joint venture and scale up. Listen in for Anna’s advice around finding partners with complementary skills and learn how to MAKE the time to achieve financial freedom!

Key Takeaways

How Anna’s life has changed since quitting her job

  • No less busy (12-hour days to close on 2 properties)
  • 2-week vacation for first time in years

Anna’s new emphasis on work-life balance

  • Consistent time for self-care + focus on health
  • Slow, methodical growth of multifamily business

Why Anna questioned the decision to quit her job

  • Background as financial advisor, predict recession
  • Job at AIG ‘sole lifeboat’ for family through crash

How Anna got started investing in real estate

  • Clients with most money = real estate investors
  • Protectionary investments to cover expenses (2007)
  • Bought small multifamily in 2008 with rest of 401(k)

Anna’s five-year plan to replace her income

  • Refinance 12-units in 3 buildings already owned
  • Line of credit + equity loan to buy foreclosures
  • Research seller financing, buy 4-unit buildings

Anna’s decision to scale up to larger multifamily properties

  • Reached goal to replace income ($5M in assets)
  • Wanted 6 months of expenses for buildings + year of salary
  • Met partners at event, found 73-unit off-market property

Anna’s investing advice for her younger self

  • Still buy small properties for long-term stability
  • Invest with others sooner, focus on finding deals

Anna’s strategic approach to syndicating deals

  • Target properties in 2-hour radius where know market
  • Expand to other markets once comfortable with process

Anna’s advice around joint venturing

  • Find experienced investor with aligned goals
  • Look for someone with complementary skill set

Anna’s insight for aspiring multifamily investors

  • Be prepared for initial investment of time
  • Got for it but be wise in who partner with

Anna’s response to the lack of time argument

  • You make time for what’s really important
  • 82 hours/week for 4 years with few breaks

How Anna got through the difficult times

  • Change way you get there or timeline, not goal itself
  • Develop resilience and do whatever it takes

Connect with Anna

Rei Mom

Anna on Facebook

Creating Wealth Facebook Group

Resources

Deal Maker Live

The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod

The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable by Hal Elrod

Kyle Wilson’s Inner Circle Mastermind

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Turn Your Setbacks into Comebacks by Rick McDaniel

Grant Cardone on School of Greatness EP802

Alan Schnur on Apartment Building Investing EP116

Elite Investors Club

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Apartment Investor Network Facebook Group

Jul 04 2019

42mins

Play

Rank #5: MB 174: Put Your Money in Motion with Passive Investing – With Ryan McKenna

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If you make good money, and you want to make it work for you, passive investing in multifamily syndications may be a perfect fit. But what are the benefits of apartment investing compared to the stock market? How do you choose an operator you can trust? What happens if there’s an economic downturn? Can you really achieve financial freedom with passive investing?

Ryan McKenna is the founder of McKenna Capital, a private equity firm that helps investors build long-term wealth through value-add multifamily, self-storage and manufactured home park investments. Ryan has invested in 30-plus real estate and business syndications worth more than $600M, and his current portfolio includes 7,800 units in markets across the country. Ryan’s role at McKenna Capital involves overseeing acquisitions, capital raising efforts, investor relations and asset management.

Today,
Ryan joins me to explain why he chose the path of passive investing and discuss
what drew him to multifamily over other investment options. He shares the generous
tax benefits of multifamily syndications, offering a high-level overview of how
to leverage the cost segregation analysis to accelerate depreciation. Listen in
for Ryan’s insight on
how to vet an operator and learn how to put your money in motion and achieve
financial freedom as a passive investor!

Key Takeaways

How Ryan got
started in real estate

  • Learned about multifamily syndications in college
  • Used Rich Dad… as blueprint for financial freedom

Why Ryan
chose passive over active investing

  • Enjoyed work in corporate world
  • Found good operating partners with track record

Why Ryan
chose multifamily over other investment options

  • 16-20% annual return, 8-9% cash-on-cash return
  • Generous tax benefits, predictable in downturn

The beauty
of the multifamily cash out refinance

  • Get back 100% of money plus cashflow
  • Redeploy in another deal for additional income

A high-level
overview of the cost segregation study

  • Accelerates depreciation on parts of property
  • Big tax advantages up front (huge taxable loss)

Ryan’s
advice for aspiring passive investors

  • Reach out to people already doing it, ask Q’s
  • Diversify in multiple markets, operating
    partners

How Ryan
vets a multifamily operator

  • Look for character, integrity and trust
  • Communication style + transparency
  • Track record (execute on business plan)

Ryan’s
insight on waiting until after a downturn

  • Money in bank losing value with inflation
  • ‘Bad deal’ still returns 8 to 12% + tax benefits

Ryan’s
timeline to financial freedom for passive investors

  • Invest $100K per year for 5 years
  • Passive income stream of $140K

How Ryan’s
life has changed now that he’s financially free

  • More time with family, lifestyle by design
  • Passionate about real estate (full-time
    syndications)

Ryan’s
transition from passive to active investing

  • Co-syndicating deals as part of general
    partnership
  • Raise capital, introduce investors into
    multifamily

Connect with Ryan

McKenna Capital

Resources

Deferred Sales Trust on ABI EP166

What’s the Best Investment: The Stock Market or Real Estate?

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not by Robert T. Kiyosaki

Nighthawk Equity

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Apartment Investor Network Facebook Group

Aug 15 2019

37mins

Play

Rank #6: MB 161: Break into the Multifamily Business with Joint Ventures – With Jens Nielsen

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There are a number of different ways to get your multifamily investing career off the ground. You might choose to buy a small property with your own money or learn the business as a passive investor in a syndication. You could take on the role of syndicator and partner with an experienced team or get in the game as a capital raiser. So, what are the benefits to each of these strategies? Which approach provides the quickest route to financial freedom? And how can you leverage the power of joint ventures to invest in bigger deals early on?

Jens Nielsen is the principal at Open Doors Capital, a private equity firm out of Durango, Colorado, that helps people passively invest in real estate. In just three years, he has raised nearly $1M for multifamily deals and invested in 800-plus apartment units. Jens has a talent for assessing risk and assembling the right team to renovate and operate multifamily properties, and he has utilized a variety of strategies to build an impressive portfolio—while working a full-time job in IT.

Today, Jens joins me to explain how his lack of faith in the stock market led him to develop an entrepreneurial mindset and become a multifamily investor. He walks us through his journey and each of the strategies he utilized, from buying a fourplex on his own to a seller financing deal to raising capital for syndications. Listen in for Jens’ insight around the benefits of getting started through passive investing and learn his unique approach to raising money by way of a joint venture!

Key Takeaways

Jens’ path to multifamily investing

  • Successful career in IT but afraid to count on 401(k)
  • Build passive income streams to secure financial future

How to develop an entrepreneurial mindset

  • Realize idea of job security = myth
  • Get educated and grow risk muscle

Jens’ first real estate deal

  • Bought fourplex in Albuquerque, NM with own money
  • Rehab units + new roof for cashflow of $800/month

How everyone wins in a seller financing deal

  • Lower taxes and interest rate benefits seller
  • Small down payment + monthly payments

Jens’ 38-unit joint venture deal

  • Negotiated price down from $1.6M to $1.2M
  • Sellers came in undercapitalized, losing money
  • Jens halfway through $10K/door renovation

The roles and responsibilities of Jens’ team

  • Jens does underwriting, due diligence and budget
  • Partner focuses on renovations and management

How to shift into the role of raising money for deals

  • Position self as investor and nurture relationships
  • Present deals in logical way and discuss benefits

The advantages of investing in a multifamily syndication

  • Much easier to scale + more reliable return
  • Opportunity to expand influence, network

Jens’ advice for aspiring real estate investors

  • Consider passive investments in bigger deals
  • Be careful about self-managing properties

How to prepare for the role of raising capital for multifamily

  • Surround self with peer group just ahead of you
  • Use team approach to raise money for syndicator

Connect with Jens

Open Doors Capital

Email jens@opendoorscapital.com

Resources

Deal Maker Live

Michael’s Mentoring Program

Invest with Michael

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Apartment Investor Network Facebook Group

Michael on Instagram

May 16 2019

33mins

Play

Rank #7: MB 162: Quit Your Job & Control Your Own Destiny with Multifamily – With Danny Randazzo

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Close your eyes and imagine for a moment how it would feel to quit your W-2 job. Imagine having the freedom to control your own time—and financial destiny. Imagine having the passive income to cover your expenses and provide for your family long-term, without being stuck in those golden handcuffs. If you’re dreaming of handing in a letter of resignation, then multifamily real estate investing may offer the ideal solution.

Danny Randazzo is an author, entrepreneur and full-time real estate investor. He has a background as a financial consultant, advising multibillion-dollar companies in improving revenue performance, but Danny’s ambition to achieve financial freedom led him to move from the Bay Area to Charleston, South Carolina, and build an impressive real estate portfolio with his wife, Caitlin. Now, Danny and his team control $130M in multifamily properties across the country, and he is focused on helping others invest passively in apartment buildings.

Today, Danny joins me to discuss his transition from W-2 employee to full-time real estate investor. He reflects on his decision to move to a market ripe for growth and the impetus behind his pivot to focus fully on multifamily. Danny also offers advice around raising money for syndications, ensuring alignment of interests with potential partners, and leveraging joint ventures to scale your business. Listen in for insight on making the decision to quit your job and pursue real estate full-time and learn why multifamily is the most direct route to financial freedom!

Key Takeaways

How Danny feels about quitting his job

  • Corporate job no longer providing what family needs
  • Joy in controlling own time and financial destiny

Danny’s transition from employee to full-time investor

  • Good personal financial position
  • 100% focus to take real estate business next level

How Danny got into real estate

  • House hack with extra money from working in UAE
  • Decision to move to Charleston, SC (ripe for growth)

Danny’s pivot to focus on apartment buildings

  • Benefits in terms of scalability, occupancy protection
  • Grew portfolio to control $130M in multifamily

Danny’s guidance around raising money for deals

  • Use own equity nest egg for proof of concept
  • Educate + share opportunities to invest in real estate

The benefits of passive investing in multifamily

  1. Cashflow
  2. Future equity appreciation
  3. Tax advantages

The role of joint ventures in scaling your business

  • Allows for creativity in how do deals
  • Work together to achieve greater results

Danny’s top real estate lessons learned

  • Alignment of interests with partner’s wants + needs
  • Find solutions with help from network

Danny’s advice for aspiring investors on quitting your job

  • Get clear on financial needs + goals
  • Do math on # of properties to cover expenses

What Danny is excited about moving forward

  • Several multifamily deals in pipeline
  • Vacation to South Africa with wife

Connect with Danny

Passive Investing

Randazzo Capital

Danny’s Blog

The Boy Who Lost His Wallet (Wealth Lessons for Kids) by Danny Randazzo

Resources

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not by Robert T. Kiyosaki

Commercial Investing Books by Dolf de Roos

Tom Wheelwright on ABI EP127

Grant Cardone

The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod

Deal Maker Live

Michael’s Products

Michael’s Mentoring Program

Invest with Michael

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Apartment Investor Network Facebook Group

May 23 2019

34mins

Play

Rank #8: MB 157: Achieving Financial Freedom as a Passive Investor in Multifamily – With Doug Marshall

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So, you want to achieve financial freedom with real estate investing, but you’re a busy person with a demanding job and a lot of responsibility. You don’t have time to learn the ins and outs of putting together an advisory team, finding a good deal, or making decisions about the financing and management of a property. The fact is, you can STILL enjoy the benefits of real estate investing by becoming a passive investor in a multifamily syndication!

Doug Marshall is the founder and president of Marshall Commercial Funding, a firm dedicated to helping clients get the best possible financing for their rental properties. Doug has 36 years of experience as a mortgage broker, and he received his CCIM designation in 1999. His journey into passive investing began 10 years ago, and to date, he has invested in 11 properties—8 of which were apartment buildings. Doug is also the author of Mastering the Art of Commercial Real Estate Investing:  How to Build Wealth & Grow Passive Income from Your Rental Properties.

Today, Doug joins me to discuss how he achieved financial freedom through passive investing in commercial real estate. He describes the difference between an active and passive investor, sharing his goals as a passive investor and the characteristics of an ideal candidate for passive investing.  Doug also offers insight around his preference for multifamily over other asset classes and explains how to calculate the amount you need to invest for a particular cash-on-cash return. Listen in to understand the incredible tax benefits of real estate investing and get Doug’s take on the #1 thing passive investors should consider before handing their money over to a syndicator.

Key Takeaways

Doug’s path to financial freedom with passive investing

  • 20 years living paycheck to paycheck
  • Went into business for self as mortgage broker (3X income)
  • Partnered with client as passive investor

The difference between active and passive investing

  • Active investors make ALL decisions (team, management)
  • Passive investors decide WHO to trust to achieve returns

Why Doug prefers multifamily over other asset classes

  • Vacancies have less impact on returns
  • Low vacancy rates during recession (5-10%)

The advantages of multifamily real estate investing

  • Deferment of capital gains taxes
  • Generates cashflow
  • Opportunity to buy below market
  • Depreciation limits income taxes
  • Leverage properties to amplify return

Doug’s goals as a passive investor in multifamily

  • No hassle of day-to-day decision-making
  • Cashflow + upside appreciation
  • Financial freedom (family trip to Scotland)

The ideal candidate for passive real estate investing

  • Made good money over lifetime
  • Desire to generate passive income

How to calculate the right amount to invest for retirement

  • Living expenses minus social security benefits
  • Cover difference with cash-on-cash return

The cash-on-cash return Doug looks for in a property

  • 4-5% from start with value-add opportunity
  • Up to 8% once improvements made

The most important considerations for passive investors

  • WHO to invest with (vet syndicator for integrity)
  • WHAT asset class to invest in

Connect with Doug

Marshall Commercial Funding

Mastering the Art of Commercial Real Estate Investing: How to Successfully Build Wealth & Grow Passive Income from Your Rental Properties by Doug Marshall

Resources

Deal Maker Live

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Apartment Investor Network Facebook Group

Michael on Instagram

Apr 19 2019

31mins

Play

Rank #9: MB 164: The Doability of Real Estate Investing – With Bob Helms

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‘Don’t be afraid. This is totally doable.’

Of all the people who are exposed to real estate on a regular basis, very few take action to become investors themselves. If awareness is not the problem, then what is? Why do so few real estate agents, for example, seek out opportunities to work with investors or partner to buy properties of their own? Why do so many of us attend REIA meetings month after month—without taking the next step?

Known as The Godfather of Real Estate, Bob Helms has been investing since 1957. He became a practicing broker in 1980 and spent 18 years working as a father-son team with his son, Robert, of Real Estate Guys fame. In his long and storied career, Bob has owned, managed, bought and sold hundreds of properties. He has been a top-producing agent, respected managing broker, and mentor to hundreds of leading agents and investors. Bob is a regular contributor to Real Estate Guys Radio and a featured speaker at the annual Summit at Sea. He is also the author of Be in the Top 1%: A Real Estate Agent’s Guide to Getting Rich in the Investment Property Niche.

Today, Bob joins me to discuss why agents don’t invest in real estate themselves, explaining how the lack of role models for realtors inspired him to write Be in the Top 1%. He describes how he became an accidental real estate investor and shares the story of Bob’s Big Boo-Boo, a 50-unit deal that he failed to optimize. Listen in for Bob’s insight around becoming an investment property specialist and learn how you can easily become an investor yourself—with the right education and a little self-belief!

Key Takeaways

How Bob became The Godfather of Real Estate

  • Nicknamed by The Real Estate Guys
  • Practicing broker for 40 years

Why agents don’t invest in real estate themselves

  • Lack of successful role models
  • Commercial agents < 7% of total

How Bob got into real estate investing

  • Bought cabin in mountains as engineering student
  • Worked as agent specializing in serving investors

What it was like to work with Robert as a father-son team

  • Gave each other space to operate
  • Both made significant contributions

What inspired Bob to write Be in the Top 1%

  • Average agent makes $35K to $40K/year
  • ‘Separated from opportunity’

The key to becoming an investment property specialist

  • Understand language of investors, how they think
  • Offer opportunity superior to what already doing

Bob’s top takeaways from Be in the Top 1%

  • Investing easy to do with education
  • Find coach to guide through process

How agents can best serve real estate investors

  • Learn investment goals, help develop plan
  • Proactively look for properties than align

Connect with Bob

The Real Estate Godfather

Bob on The Real Estate Guys

Be in the Top 1%: A Real Estate Agent’s Guide to Getting Rich in the Investment Property Niche by Bob Helms

Resources

The Real Estate Guys

Summit at Sea

The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss

Equity Happens: Building Lifelong Wealth with Real Estate by Robert Helms and Russell Gray

New Orleans Investment Conference

Hal Elrod

The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod

The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable by Hal Elrod

Deal Maker Live

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Apartment Investor Network Facebook Group

Jun 06 2019

39mins

Play

Rank #10: MB 150: From Starving Artist to Financially-Free Multifamily Investor – With Mark Hentemann

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Imagine having the financial security to do what you love, to pursue work that brings you joy—even if that work happens to be in an unpredictable industry. Mark Hentemann began his career in entertainment as a starving artist in New York City, often wondering how he would cover rent. Now, he leverages the cashflow from real estate investments to spend his days coming up with jokes in the writer’s room, without the stress of financial instability should his show get cancelled.

Mark Hentemann is a writer, voice actor and producer, working on shows like Family Guy, Bordertown and The Late Show with David Letterman. He is a two-time Primetime Emmy award-nominee for Outstanding Animated Program and Outstanding Comedy Series. In addition, Mark is an avid real estate investor, cofounding the multifamily investment company Quantum Capital, a firm focused on value-add assets in centrally located, growing neighborhoods of major metropolitan areas. To date, he has a portfolio of 185 units and earns $1M in passive income.

Today, Mark joins me to explain how a desire for financial security led him to invest in a duplex soon after his move to LA. He describes the moment when he finally understood the power of real estate and speaks to the advantages of house hacking as strategy to get started. Mark also shares his belief in economies of scale, discussing how he finds deals that make sense in Los Angeles. Listen in to understand why Mark is getting into syndication and learn how you can follow in his footsteps, leveraging multifamily real estate investment to pursue the work you love!

Key Takeaways

How Mark got involved in real estate

  • Starving artist in NYC, needed financial security
  • Move to LA, invest Family Guy income in duplex

Mark’s first real estate deal

  • Duplex ‘rough around edges’ in improving area
  • Listed at $380, won bidding war for $435K
  • Sold in 2005 after remodel for $1.27M

When Mark realized the power of real estate

  • Refi on duplex reduced interest from 7½% to 4¾%
  • Rent covered mortgage, insurance, taxes + utilities

The advantages of house hacking

  • Provides hedge against economic volatility
  • Add value to force appreciation

Mark’s belief in economies of scale

  • Realized benefit of larger multifamily properties
  • Found and purchased 6- and 14-unit buildings

How real estate impacts Mark’s quality of life

  • Takes financial strain out of equation
  • Write for fun (without stress of economic instability)

Mark’s perfect day

  • Write jokes and laugh during day
  • Network and look for properties

How Mark finds deals in the LA market

  • Chronic undersupply of B-class multifamily
  • Look for 40-year-old buildings in up-and-coming areas
  • Focus on low cost per ft2 (price comparable to land)

Mark’s experience with syndication

  • Motivated seller with 3 buildings ($10M deal)
  • Committed, then scrambled to find investors

Mark’s advice to aspiring multifamily investors

  • Take advantage of house hacking
  • Find 2- to 4-unit value-add in area on rise

Connect with Mark

Email markhentemann@me.com

Quantum Capital

Resources

Keith Weinhold on ABI EP034

Tyler Sheff on ABI EP072

Michael’s Mentoring Program

Invest with Michael

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Michael’s Website

Podcast Show Notes

Review the Podcast on iTunes

Mar 01 2019

30mins

Play

Rank #11: MB 181: Double Your Money Through Passive Investing in Multifamily – With Jan Larson

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What kind of returns can a passive multifamily real estate investor expect? What if you could double your money in just five or six years? And pay little or nothing in the way of taxes?

Jan Larson spent 25 years in the high-stress world of semiconductor development, most recently working for Amazon. He had always been interested in real estate investing but did not want to deal with 3AM phone calls about clogged toilets. Five years ago, a colleague introduced him to a passive investing opportunity, and Jan was hooked. Today, he has invested in 28 multifamily deals involving 34 properties, and in January, Jan had enough passive income to quit his job.

On this episode, Jan joins me to discuss how his life has changed since he quit his job through passive investing in multifamily. He explains how living through the stock market meltdowns in 2000 and 2008 inspired him to diversify with apartment buildings, describing what he loves most about multifamily and sharing the returns passive investors can expect. Listen in for Jan’s advice on how to get started with passive investing and learn how he evaluates deals based on the sponsor and the submarket!

Key Takeaways

How Jan’s life has changed since he quit his job

  • High-pressure work in tech industry
  • Much less stress now

How Jan got started with passive investing

  • Introduced to multifamily by colleague
  • Steady deal flow snowball from there

Why Jan chose real estate over the stock market

  • Lived through meltdown of 2000 + 2008
  • Diversify to reduce exposure to market

What Jan loves about passive investing in multifamily

  • Not binary
  • ‘Set it and forget it’

What allowed Jan to invest in 28 deals in 5 years

  • Liquidated stock investments and Roth IRA
  • Rolled proceeds of sales into other deals

How refinancing a property benefits passive investors

  • % of investment returned (redeploy in new deal)
  • Cash-on-cash return of remaining = 25-30%/year

The returns a passive investor can reasonably expect

  • 8-10% cash-on-cash returns
  • Double money in 5 or 6 years

Jan’s insight around the tax benefits of multifamily

  • Depreciate faster with cost segregation
  • Haven’t paid any taxes on CoC returns

What Jan looks for in a multifamily deal

  • Trustworthy sponsor with track record
  • Submarket in particular + overall market

Jan’s advice for aspiring passive investors

  • Find Meetups to meet sponsors
  • Vet by talking to other investors

Jan’s top takeaway for potential passive investors

  • Multifamily investing gives options

Connect with Jan

Email jan.a.larson@gmail.com

Resources

What’s the Best Investment: The Stock Market or Real Estate?

Nighthawk Equity

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Sep 30 2019

27mins

Play

Rank #12: MB 159: Work Less & Make More as a Passive Investor in Multifamily – With Paul Moore

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The real world is not HGTV. If you are a high-earner looking to get into the real estate game, it is important to understand just how much work is involved in being an active investor. There is a lot of competition in the space, and good deals are hard to find. Add to that the complexities of managing a rental portfolio, for example, and the headache may seem like more than it’s worth. But why work harder than necessary to make less than you could? You can take advantage of all the benefits of commercial real estate investing as a passive investor, letting an expert handle the minutiae while you reap the rewards.

Paul Moore is the Founder and Managing Director at Wellings Capital, a commercial real estate investment firm that focuses on self-storage, mobile home parks, and multifamily property. Paul has 18 years of experience in real estate: He has flipped 50-plus homes and 25 high-end waterfront lots, appeared on HGTB’s House Hunters, rehabbed and managed rental properties, built new homes, and developed a subdivision. Paul is also the author of The Perfect Investment: Create Enduring Wealth from the Historic Shift to Multifamily Housing and cohost of the wealth-building podcast How to Lose Money.

Today, Paul joins me to discuss the advantages of commercial real estate over stocks, bonds and mutual funds. He shares the challenges of being an active investor, explaining why high-earning professionals might be happier as passive investors in commercial assets like apartment buildings, self-storage facilities, or mobile home parks. Paul also offers insight around the commercial value formula, describing how operators can force appreciation with simple strategies to increase a property’s income or compress its cap rate. Listen in to understand the extraordinary tax advantages of multifamily real estate and learn what makes commercial investing an attractive option for high-net-worth individuals looking for a consistent return and minimal risk profile.

Key Takeaways

The pros and cons of stocks, bonds + mutual funds

  • Long track record of growth, great liquidity
  • Highly unpredictable

The pros and cons of commercial real estate

  • Not at all liquid
  • Stability, predictability for long term

The challenges of being an active investor

  • Hard to find good deals + be profitable
  • Time consuming to run large SFH portfolio

The commercial value formula

  • Value = net operating income/cap rate
  • Increase income or compress cap rate to force appreciation

Simple things operators can do to increase income

  • Rental space for trailers, RVs + boats in mobile home park
  • Professional property management in apartment building

Simple things operators can do to compress the cap rate

  • Franchise group of self-storage facilities, find right buyer
  • Multifamily value-add from C+ to B and refinance

The tax advantages of commercial real estate investing

  • Accelerate depreciation via cost segregation study
  • Bonus depreciation (up to $1M) + QREP write-offs

Wellings Capital’s strategy moving forward

  • Expand to self-storage, mobile home parks via partnerships
  • Wellings brings equity and partner-operator finds deal

Connect with Paul

Wellings Capital

How to Lose Money Podcast

Paul on BiggerPockets

The Perfect Investment: Create Enduring Wealth from the Historic Shift to Multifamily Housing by Paul Moore

Resources

Deal Maker Live

The Real Estate Guys

Paul Moore on ABI EP058

10 AMAZING Tax Benefits for Real Estate Investors

Michael on HTLM EP019

Michael on HTLM EP132

Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes by Tom Wheelwright

Nighthawk Equity

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Apartment Investor Network Facebook Group

Michael on Instagram

May 03 2019

29mins

Play

Rank #13: MB 147: The Unique Perspective of a Financial Planner Turned Multifamily Investor – With Jason Harris

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As a financial planner, Jason Harris helped clients prepare for retirement. At the same time, he was building a real estate portfolio to replace his W-2 income. And last Thursday, he retired from financial planning (in his early 30’s!) to pursue investing full-time. What did that journey look like? What strategies did Jason and his wife, Carrie, use to generate passive income with multifamily?

Jason and Carrie started investing in real estate in 2010. Nine years later, they have a portfolio of 75-plus units and the couple is building a consulting business known as Creative Gains. With his background in financial planning, Jason offers clients a unique perspective on diversifying their portfolio with real estate. Jason and Carrie also run a successful property management company.

Today, Jason joins me to discuss his last day of work as a financial planner and explain how his friends and family reacted to his decision to pursue real estate full-time. Jason walks us through his journey to financial independence, from the FHA loan he used to buy his first fourplex to the creative strategies he and his wife leveraged to build their portfolio. Listen in for Jason’s unique insight on making real estate investing a part of your retirement plan and get his advice around making the leap from a W-2 job to full-time investor!

Key Takeaways

Jason’s last day of work as a financial planner

  • Surreal, scary and exciting
  • Confusion around what to do with time

What’s next for Jason

  • Sharing ideas with others (consulting, book)
  • Maintain property management company

How Jason’s friends and family reacted to his transition

  • Mixed reactions (e.g.: ‘too young to leave good career’)
  • Few colleagues understand assets outside securities

Jason’s journey to financial freedom

  • Started exploring real estate in 2010
  • Bought fourplex with FHA loan
  • Cashflow for down payment on next property

Why Jason and his wife chose not to expand their lifestyle

  • Dad laid off twice in teen years
  • ‘Sacrifice today for better tomorrow’

The fundamentals of FHA loans

  • Must own/occupy property to get financing
  • 4% down to live there, 28% otherwise

The creative strategies Jason used to build his portfolio

  • Wife got license, use commission as down payment
  • Hard money loan for value-add opportunity (BRRRR)
  • Partner on larger deals
  • Seller financing
  • Portfolio loans

Jason’s advice for transitioning from W-2 to full-time investor

  • Know your numbers (passive income net of all expenses)
  • Consider ability to qualify for loans without W-2 income

How Jason might have accelerated his timeline

  • Think bigger (stayed within 20-unit range)
  • Restricted from syndication by license as financial planner

Jason’s insights for passive investors

  • Diversify with ROTH IRA, 401(k) + real estate portfolio
  • Considerable tax benefits associated with multifamily

Connect with Jason

Creative Gains

Email creativegainsllc@gmail.com

Call (801) 362-0784

Resources

Keith Weinhold on ABI EP034

Tyler Sheff on ABI EP072

Invest with Michael

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Michael’s Website

Podcast Show Notes

Review the Podcast on iTunes

Feb 08 2019

35mins

Play

Rank #14: MB 175: Leveraging Hustle & Heart to Find Off-Market Deals – With Logan Freeman

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Good deals are so hard to find right now! That’s become a common complaint among real estate investors in recent months, but I’m not convinced it’s true. In fact, if you’re willing to hustle and approach brokers with a service-first mindset, it’s fairly easy to find off-market multifamily deals.

Logan Freeman is a commercial real estate agent, investor, developer and capital raiser. He is also the founder of LiveFree Investments, a Kansas City firm specializing in joint ventures and equity partnerships that provides strong returns on capital from secure investments. Logan got his start in real estate doing a live-in flip back in 2013, and since then, he has completed 80-plus transactions and earns $13M for his investors annually.

Today, Logan joins me to explain why he was dreaming about real estate—even as he was being drafted for the NFL! He discusses the niche he has developed representing buyers and building his own portfolio, describing how he builds credibility with brokers by solving problems and adding value. Listen in for Logan’s What if? approach to real estate networking and learn how he is hustling to find off-market deals for his clients—and himself!

Key Takeaways

Logan’s path to real estate

  • Drafted for NFL but didn’t make team
  • Work to earn master’s degree (265 calls/day)
  • Learn self-worth not tied to outcomes

Logan’s introduction to real estate

  • Friends’ dads as mentors, owned rentals
  • Find way ‘to make money while you sleep’

How Logan got started in real estate

  • Live-in flips while working as consultant
  • Acquisitions for boutique investment firm

What inspired Logan’s transition to multifamily

  • Spreads starting to shrink in KC market
  • Decision to work smarter, not harder

Logan’s status as the go-to guy when people need to sell

  • Need in market to match buyers with properties
  • Source off-market deals via broker relationships

How Logan gets brokers to take him seriously

  • Build trust by solving problems
  • Don’t ask for fee (earn through buyers)
  • Underwrite properties + send feedback
  • Partner as necessary for track record
  • ‘Network your tail off’

What Logan’s excited about moving forward

  1. Creative strategies to buy off-market properties
  2. Marketing tactics to build personal brand
  3. Co-GP on self-storage, mobile home parks

Connect with Logan

LiveFree Investments

Resources

Nighthawk Equity

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not by Robert T. Kiyosaki

TalentSmart

StrengthsFinder

Syndicated Deal Analyzer

Berkadia

Block Real Estate Services

CBRE Kansas City

David Goggins

CCIM

Stephen Covey

Mauricio Rauld

Be in the Top 1%: A Real Estate Agent’s Guide to Getting Rich in the Investment Property Niche by Bob Helms

Michael Becker

Loom

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Apartment Investor Network Facebook Group

Aug 22 2019

41mins

Play

Rank #15: MB 170: Maximizing ROI in Value-Add Multifamily Deals – With Ira Singer & Marc Rutzen

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Adding value to a multifamily property is what allows us to raise rents and earn a solid ROI. But how do we choose a contractor? As owners, how active should we be in managing the construction itself? What is the property manager’s role in a construction project? How do we know what amenities work in a particular market—and what they’re worth to renters?

Ira Singer is the Principal at Mosaic Construction, a design-build industry leader based in Northbrook, Illinois. Mosaic provides best-in-class renovation, remodeling and building services for multifamily, residential and commercial property owners and managers. Marc Rutzen is the CEO of Enodo, a machine learning platform that analyzes multifamily investments and calculates the ROI on value-add amenities.

Today, Ira and Marc join me to discuss the ins and outs of doing a value-add multifamily deal. Ira explains how the owner, property manager and contractor work together on a large-scale construction project, sharing the integral role communication plays in the process. Marc describes how amenity pricing varies by market and weighs in on the trend to offer services like pet daycare and credit card payments. Listen in for insight around making value-add choices that will allow you to increase rents, decrease operating costs, and boost your ROI overall!

Key Takeaways

The role a construction company plays in acquiring property

  • Site visit, bring architect if necessary
  • Discuss scope of work + lend eye as ‘building inspector’

The owner’s role in overseeing a construction project

  • Review daily updates (photos + written explanation)
  • Make important decisions

The property manager’s role in a construction project

  • Provide access and notify residents
  • Communicate with onsite project manager

How to approach large-scale value-add projects

  1. Empty building for full unit makeovers
  2. Two-day refresh of occupied units

Ira’s advice on hiring and managing a contractor

  • Develop relationship with construction partner
  • Monitor progress with strong communication

What construction gone wrong looks like

  • Failed inspections
  • Poor communication, execution

Ira’s insight around how to increase ROI

  • Pay attention to building envelope
  • Solid roof, gutters, windows and doors

Ira’s tips for reducing expenses on a property

  • Maintenance-free siding and windows
  • Efficient HVAC system, insulation in attics

How amenity pricing varies by market

  • Rooftop deck $32 nationally, $45 in Miami
  • Pool $30 in Miami, $50 in Chicago

The trend toward offering services

  • Pet daycare and dog walking
  • Storage (e.g.: package lockers, bikes)
  • Accepting credit card payments

Connect with Ira

Mosaic Construction

ira@mosaicconstruction.net

Connect with Marc

Enodo

marc@enodoinc.com

Resources

Deal Maker Live

Save Water Co

National Apartment Association

CoStar

Partner with Michael

Michael’s Mentoring Program

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Apartment Investor Network Facebook Group

Jul 18 2019

35mins

Play

Rank #16: MB 190: From VA Loan to Multifamily Investing Career – With Phil Capron

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When Phil Capron went through special ops training for the US military, he noticed that the recruits who made it to the end weren’t necessarily the strongest or the fastest or the smartest. So, what differentiated the 20 who succeeded from the thousands vying for the job? They simply refused to quit. And Phil believes that the same principle applies to making it in multifamily investing.

Phil is a former Special Warfare Combatant Craft Crewman in the US Navy and current full-time multifamily real estate investor. To date, he owns a 245-unit portfolio worth $15M in Coastal Virginia and shares his understanding of the space as a Senior Mentor with the Michael Blank Organization. Phil specializes in revitalizing distressed and underperforming assets to ensure profitability for his team and change neighborhoods for the better. He is also the author of the new release Your VA Loan: And How it Can Make You a Millionaire.

On this episode of Apartment Building Investing, Phil joins me to explain how taking advantage of a VA loan sparked his initial interest in real estate. He walks us through his transition from working in a brokerage and flipping houses to full-time multifamily investing, sharing his advice around when to quit a W-2 job for real estate. Listen in for Phil’s insight into what differentiates his successful mentoring students from those who don’t progress and learn how the grit he developed in military special ops training informs his investing career.

Key Takeaways

How Phil got started in real estate

  • Enlisted in US Navy at age 24
  • Bought 4BR SFH with VA loan
  • Friends rented rooms (live for free)
  • Real estate license, flip houses

What inspired Phil’s transition to multifamily

  • Trying to sell 13-unit for commission
  • Buyer turned down owner financing
  • Phil bought himself, rent checks roll in
  • Proved economy of scale concept

When Phil started investing full-time

  • 18 months into multifamily
  • Established 200-unit portfolio

Phil’s advice on when to quit your job

  • Make decision and write down plan
  • Save up 9 months of living expenses

Phil’s take on why people don’t take action

  • Perceive quality of life as good enough
  • Fear of success leads to self-sabotage

How Phil spends his days as a full-time investor

  • Look for deals + manage portfolio
  • Work with students on their deals
  • Surf, skydive and travel

Phil’s insight on why your story matters

  • Experience with bank (decision based on team)
  • Get gritty about not giving up

Connect with Phil Capron

Phil’s Website

Phil’s Podcast

Phil on Facebook

Resources

Your VA Loan: And How It Can Make You a Millionaire by Phil Capron

VA Home Loans

BiggerPockets

FHA Loans

Tyler Sheff

Drew Whitson

Financial Freedom Summit

Michael’s Mentorship Program

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Nov 22 2019

40mins

Play

Rank #17: MB 165: The BE-DO-HAVE Model for Achieving Your Big Dreams – With Hal Elrod

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We all want to be the best version of ourselves for the people we love and lead. But most of us don’t think we can BE happy or fulfilled until we HAVE the things we want. What if we’ve got it backwards? What if we start with daily dedication to BEING a Level 10 person? What if self-development is the prerequisite for DOING what it takes to achieve our big dreams and HAVING the success we’ve always wanted?

Hal Elrod is the world-renowned author of The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM), one of the highest-rated bestsellers in the world. The book has been translated into 27 languages, and Hal’s method is practiced daily by 500,000-plus people in more than 70 countries. He is also one of the top keynote speakers in the US and the creator of one of the most engaged online communities on the web. In April, Hal released his new book, The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable.

Today, Hal joins me to share his 2 near-death experiences and explain how he learned to accept the circumstances—and then commit to doing whatever it took to get the results he wanted. He walks us through the 6 elements of the Miracle Morning, discussing how the daily practice lays the foundation for becoming a Level 10 person. Hal also offers insight around the true purpose of setting goals and reveals how unwavering faith and extraordinary effort are key in reaching our big dreams. Listen in to understand Hal’s 4-step process for creating affirmations and learn how to apply the BE-DO-HAVE model to achieving financial freedom!

Key Takeaways

Hal’s first near-death experience

  • Hit head-on by drunk driver, broke 11 bones
  • Dead for 6 minutes and in coma for 6 days

Hal’s response to the prediction he would never walk again

  • Accept circumstances (emotional pain caused by resistance)
  • Chose to be happiest, most grateful person in wheelchair
  • Visualized walking every day + took first step 3 weeks later

The 5-Minute Rule

  • Set timer for 5 minutes to rant and rave
  • Say, ‘Can’t change it’
  • Focus all energy on what CAN change moving forward

Hal’s mission to elevate the consciousness of humanity

  • Dedicate time each day to becoming better version of selves
  • Must become Level 10 person to achieve Level 10 success

The 6 elements of the Miracle Morning

  1. Silence (meditation, prayer)
  2. Affirmations
  3. Visualization
  4. Exercise
  5. Reading
  6. Scribing

Why Hal wrote The Miracle Equation

  • Daily practice of Miracle Morning lays foundation
  • Miracle Equation = process for goal achievement

Hal’s insight around the real purpose of setting goals

  • Develop qualities + characteristics of goal-achiever
  • Value of growth on journey more important than hitting target

Hal’s mantra for developing unwavering faith

  • Commit to giving everything you’ve got to reach goal
  • Regardless of results along way, no matter what

How Hal defines extraordinary effort

  • Hard work AND consistency
  • Doesn’t matter how long it takes

The 4 steps to creating effective affirmations

  1. WHAT you’re committed to
  2. WHY it’s deeply meaningful
  3. WHAT actions necessary to reach goal
  4. WHEN committed to taking actions

Connect with Hal

Hal’s Website

The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod

The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable by Hal Elrod

Resources

Jim Rohn

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki

The Miracle Morning Documentary

Hal on Rich Dad Radio

Think and Grow Rich by Napoleon Hill

Deal Maker Live

Michael’s Mentoring Program

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Apartment Investor Network Facebook Group

Apartment Investor Network Facebook Group

Jun 13 2019

48mins

Play

Rank #18: MB 149: How Real Estate Investing Can Save Your (Financial) Life – With AJ Osborne

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“I want to see the world. I want to experience life because I almost lost mine.”

What if something happened and you could no longer work? How would you and your family survive? AJ Osborne found himself in that precarious position 18 months ago, but because he had sustainable passive income from real estate investing, he was able to focus on healing and continue to support his family as he recovered. Real estate saved his financial life.

AJ had been leading a busy life, running his state’s largest brokerage firm as well as a real estate company when he fell ill with a disease called Guillain-Barré. It left AJ completely paralyzed and comatose, and he spent several months on life support. Since then, he has had to relearn how to walk, use his arms and communicate. Fortunately, his 1M ft2 self-storage portfolio allowed AJ to focus on healing while his passive income continued to grow. The experience inspired him to create Cash Flow 2 Freedom, a platform where AJ teaches others how to generate cashflow and achieve financial freedom.

Today, AJ joins me to share the story of his battle with Guillon-Barré, explaining how the experience changed his priorities and how the passive income from his real estate portfolio sustained his family through the ordeal. He discusses what motivated him to pursue real estate investing in the first place and shares his approach to buying and managing self-storage facilities. Listen in for AJ’s insight on the difference between being rich and wealthy—and learn how to leverage real estate investing to achieve the kind of financial freedom that can save your life!

Key Takeaways

AJ’s devastating health crisis

  • Paralyzed and comatose, months on life support
  • Guillain-Barré syndrome rendered helpless

How the experience changed AJ

  • Changes outlook on what’s important
  • Reprioritize life (family moves to top)

What became most important to AJ

  • Time with children
  • Basic functions (e.g.: walk on own)

How AJ’s real estate portfolio facilitated his recovery

  • Bought family time and freedom
  • Paid bills while he focused on getting better

What might have happened without real estate

  • Disability income was 25% of previous salary
  • Would have had to downsize, wife take job

How AJ got into commercial real estate

  • Frustrated by fluctuation in consulting business
  • Needed strategy to compound returns

AJ’s distinction between rich and wealthy

  • Wealthy own assets and revenue coming in
  • Rich have high income but owned by source

AJ’s approach to investing in self-storage

  • Business rather than real estate asset
  • Turn around by dialing up value and income

How AJ turned around a state-owned facility

  • Bought at auction for $3.8M
  • Eliminated 30% of tenants by doubling price
  • Sold products, focused on customer service
  • Doubled income in 6 months, worth $9M

How AJ manages his self-storage facilities

  • Hire and train rock star management team
  • Built out policies and procedures over time

The differences among small, medium and large facilities

  • Expenses similar regardless of size
  • Sweet spot between 60K and 150K ft2

What inspired AJ to start Cash Flow 2 Freedom

  • Real estate saved family’s financial life
  • Help others gain freedom with passive income

AJ’s advice for aspiring real estate investors

  • Learn from mistakes
  • Get to state of financial freedom on own

Connect with AJ

Cash Flow 2 Freedom

Resources

Michael’s Mentoring Program

Invest with Michael

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Michael’s Website

Podcast Show Notes

Review the Podcast on iTunes

Feb 22 2019

32mins

Play

Rank #19: MB 179: Take the Next Step to Financial Freedom with Multifamily – With Mauricio Ramos

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Too many aspiring real estate investors never take action because they’re waiting for the right time, or they’re holding off until they know EVERYTHING about multifamily. Spoiler alert: That’s never going to happen! So, what if you simply got prepared for the next few steps and moved forward?

Mauricio Ramos is Managing Member at de Medici Group, a multifamily investment firm based in San Antonio. He specializes in acquiring underperforming assets that can be repositioned to improve the quality of life for tenants and build wealth for investors. Mauricio spent ten years as a Project Manager in the commercial construction industry before leaving to pursue real estate full-time in 2016. To date, he controls $2M in assets and has a portfolio of 234 units across Texas.

On this episode of the podcast, Mauricio joins me to discuss how his life is different now that he’s a full-time real estate investor. He describes how a desire to travel inspired him to pursue passive income and explains how he got his start in mobile homes and single-family wholesaling. Mauricio also shares the impetus behind his transition to multifamily, offering advice around raising money for syndications. Listen in for creative strategies to find off-market deals and get Mauricio’s insight on taking the first step—and THEN figuring out your next move!

Key Takeaways

How Mauricio’s
life is different now

  • Time freedom (work out during day, walk dogs)
  • Travel and go to seminars like Deal Maker Live

Mauricio’s
background and experience

  • Grew up in Mexico, came to US on student visa
  • 10 years as civil engineer/construction manager

What
inspired Mauricio to pursue passive income

  • Quit job for 40-day backpacking trip
  • Desire for freedom to pursue travel

Mauricio’s
introduction to real estate

  • Colleague introduced to single-family rentals
  • Paid cash for mobile homes, wholesaled SFH

Mauricio’s
first 10-unit multifamily deal

  • Sourced through direct mail campaign in 2017
  • Sold 18 months later for 159% ROI

Why Mauricio
transitioned to multifamily

  • Scalability (10 SFH vs. 10-unit)
  • Able to analyze own deals with SDA

Mauricio’s
second and third multifamily deals

  • Wholesaled 8-unit for 5-figure profit
  • Wholesaled 24-unit for 2X annual W-2 income
  • Used money for mentor, passive investment

Mauricio’s
transition to multifamily syndications

  • Sponsored 16- and 32-unit deals in McAllen
  • Raise money from friends, family and coworkers

Mauricio’s
advice to aspiring syndicators

  • Get educated on SEC compliance
  • Provide opportunity vs. ask for money

What’s next
for Mauricio

  • Expand network with seminars, partnerships
  • Goal to grow 600-unit portfolio in 2020

Mauricio’s
insight on off-market opportunities

  • Lack of creativity rather than deals
  • Rach out to brokers and take first step

How to
proceed without a clear plan

  • Be prepared for next 3 steps
  • Confidence in resourcefulness

Connect with Mauricio

de Medici Group

Email mauricio@demedicigroup.com

Mauricio on Instagram

Multifamily: Invest Differently on Meetup

Resources

Grant Cardone

Deal Maker Live

Rich Dad Poor Dad by Robert T. Kiyosaki

The 4-Hour Workweek by Timothy Ferriss

National Real Estate Investor Association

Driving for Dollars on the App Store

Driving for Dollars on Google Play

Syndicated Deal Analyzer

The Ultimate Guide to Buying Apartment Buildings with Private Money

Michael’s Mentorship Program

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Sep 16 2019

36mins

Play

MB 196: How to Align with a Sponsor to Do Your First Multifamily Deal – With Anthony Metzger

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So, you don’t have real estate investing experience. And you don’t have any money of your own to invest. What if I told you that in two short years, you could be closing on your first deal of 200-plus units? That you could be fielding calls from brokers at Marcus & Millichap? That you could be building your own multifamily brand?

Anthony Metzger spent 10 years in the wine industry, working as a sommelier and winemaker in the US and Europe before setting his sights on multifamily real estate. After his brother introduced him to The Ultimate Guide to Apartment Building Investing at the end of 2017, Anthony got busy underwriting deals and reaching out to brokers. Two short years later (in a joint venture with Nighthawk Equity), Anthony has closed on his first deal, a 218-unit multifamily property in Little Rock, Arkansas.

On this episode of Apartment Building Investing, Anthony joins me to share what inspired his interest in multifamily and walk us through the experience of doing his first deal. He explains how learning the language of real estate gave him credibility with brokers and how consistent practice analyzing deals and talking to brokers built his confidence. Listen in to understand how the Nighthawk Equity team supported Anthony in the buyer’s interview and learn how to align yourself with a lead sponsor to do YOUR first multifamily deal.

Key Takeaways

What inspired Anthony’s interest in multifamily

  • Listening to Grant Cardone and Robert Kiyosaki
  • Always been entrepreneur, hungry for project

Anthony’s initial real estate goal

  • Partner with Nighthawk Equity to do first deal
  • Didn’t want to raise money until experienced

How things changed for Anthony once his first deal closed

  • Taking calls from Marcus & Millichap
  • Brokers approach with off-market deals

How Anthony got brokers to take him seriously

  • Learned language of investing from Ultimate Guide
  • Genuine in building relationships with brokers

Anthony’s advice on demonstrating confidence with brokers

  • Prepare with script based on underwriting
  • Practice on ‘throw away market’

Anthony’s interaction with the broker on his first deal

  • Several calls to discuss deal + ask questions
  • Spitball ballpark number, asked to draft LOI

The ideal time to bring on a joint venture partner

  • After verbal agreement but before signed LOI
  • Support in buyer’s interview, include JV terms

What to expect from a buyer’s interview

  • Seller talks to everyone who made offers
  • Choose person most likely to close deal

Anthony’s approach to aligning with a lead sponsor

  • Build relationship at events, bring deals
  • Respect time by adding value (inside track)

What’s next for Anthony

  • Do second deal
  • Build own multifamily brand

Anthony’s advice for aspiring multifamily investors

  • Learn to underwrite + practice making offers
  • Network to build relationship with sponsor

Connect with Anthony Metzger

Email anthony.metzger@yahoo.com

Resources

Michael’s Free First Deal Training

Anthony’s Wine Documentary: The Pink Grape

Grant Cardone

Robert Kiyosaki

Michael’s Ultimate Guide to Apartment Building Investing

Michael’s Syndicated Deal Analyzer

Michael’s Deal Desk

Nighthawk Equity

Michael’s Deal Maker Mastermind

Deal Maker Live

Michael’s Mentoring Program

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Jan 10 2020

49mins

Play

MB 195: Retire WAY Early Via Passive Investing in Multifamily – With Travis Watts

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Most of us dream of retirement because we’ll FINALLY have the time freedom to do things that interest us and spend time with the people we love. But what if you didn’t have to wait until you turned 65 to live that dream? What if you could retire early? Better yet, what if you could retire in the next few years? Passive investing in multifamily syndications helped Travis Watts do just that, and you could be next!

Travis is an experienced passive investor and Director of Investor Relations at Ashcroft Capital, a national multifamily investment firm with more than $820M in assets under management. Prior to pursuing real estate full-time, Travis worked a grueling job in the oil industry, spending 14-hour days outside in extreme weather while saving money to invest in single-family rentals and apartment building syndications.

On this episode of Apartment Building Investing, Travis joins me to discuss the time freedom he enjoys now as a passive investor in multifamily real estate. He explains how he saved the money to invest via extreme budgeting and what made SFH investing unsustainable. Listen in for Travis’ insight around where to find a good syndication team and learn how YOU can follow in his footsteps and quit your W-2 with passive investing!

Key Takeaways

Travis’ path to full-time passive investing

  • Demanding job in oil industry
  • Laid off in oil downturn but already financially independent

How Travis’ life is different now

  • Unhappy as W-2 employee, everyday struggle
  • Now pursues things interested in (personal growth)

How Travis saved money to invest

  • Brought up with conservative parents, extreme budgeters
  • Didn’t change lifestyle as income grew from $20K to six figures

How Travis invested his money before multifamily

  • Pulled money from stock market after Rich Dad’s Prophecy
  • House hacking strategy (first-time home buyer tax credit)
  • Sought high-paying job to continue buying SFH
  • Buy-and-hold, fix-and-flip as well as vacation rentals

What inspired Travis’ transition to multifamily

  • SFH strategies had become job on top of W-2
  • Single-family not scalable, sustainable or passive

The FIRE movement 4% rule

  • Passive income goal x 25 = amount to invest
  • EX: 30K x 25 = $750K investment

What kind of income you can generate as a passive investor

  • 7% to 10% cashflow
  • Equity upside upon sale or refinance

Travis’ insight on the tax benefits of multifamily

  • Use bonus depreciation for tax-free distributions
  • Capital gains upon sale (usually offset by gains)

The beauty of the infinite return model

  • Refinance after 5 years to return most of capital
  • Continue to earn returns, no money in deal

Travis’ top investing AHA moments

Travis’ advice for aspiring passive investors

  1. Start with WHY
  2. Create a budget (know where money going)

How to vet a syndication team

  • Ensure strategy aligns with personal philosophy
  • Track record, markets you believe in

Where to find a good syndication team

  • Go to seminars and local meetups for networking
  • Start with world-of-mouth referral, follow up with due diligence

Connect with Travis Watts

Ashcroft Capital

Email travis@ashcroftcapital.com

Travis on LinkedIn

Travis on Facebook

Resources

Spencer Hilligoss on ABI EP186

Jan Larson on ABI EP181

Ryan McKenna on ABI EP174

Rich Dad’s Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming … And How You Can Prepare Yourself and Profit from It! by Robert T. Kiyosaki

The FIRE Movement

Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes by Tom Wheelwright

Work with Tom Wheelwright

Join the Nighthawk Equity Investor Club

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Jan 06 2020

40mins

Play

MB 194: How to Crush It in 2020: 6 Steps to Setting Goals You WILL Achieve

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It’s that time of year again. Time to set goals for the year ahead and start working toward your dream of financial freedom. But what’s the best way to set goals and commit to following through? How do you avoid overwhelm and keep going no matter what?

On this episode of Apartment Building Investing, I am sharing my top 6 tips for setting goals you CAN and WILL achieve in 2020. I explain why it’s crucial to find your WHY and state your goals clearly—over multiple time frames.

I go on to reveal my secret to avoiding overwhelm, describing the value of consistency in working toward financial freedom. Listen in for advice around leveraging practice to develop confidence and learn to commit to doing your first multifamily deal, no matter how long it takes!

Key Takeaways

Tip #1—Develop your WHY

  • Affords clarity, moment of decision
  • Less about you = more powerful

Tip #2—State your goals clearly over multiple time frames

  • Create yearly, 90-day, monthly, weekly and daily goals
  • Short-term goals align with big targets (e.g.: analyze 20 deals)

Tip #3—Always do the next 3 things

  • Best way to avoid overwhelm, keep moving forward
  • Consistent with progress (i.e.: finish book, choose property manager)

Tip #4—Focus on the activity, NOT the outcome

  • Analyze every deal and talk to everyone early on
  • Knowledge + practice = CONFIDENCE

Tip #5—Be consistent

  • Support network to keep on track (peers + expert)
  • Recognize and celebrate milestones

Tip #6—Commit to the outcome, not a timeline

  • Set deadlines for short-term goals under your control
  • Keep going no matter how long it takes, no other option

Resources

Tony Robbins

Grant Cardone on the Lewis Howes Podcast

The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod

Deal Maker Live

Syndicated Deal Analyzer

The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable by Hal Elrod

The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller

Michael’s Mentorship Program

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Dec 27 2019

25mins

Play

MB 193: World-Class Property Management for Multifamily – With Tony LeBlanc

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Should you self-manage your multifamily portfolio? Or is it better to outsource to a third-party? If you do choose to outsource, what should you look for in a property management team?

Tony LeBlanc is the author of The Doorpreneur: Property Management Beyond the Rent Roll, a book that redefines the potential of property management businesses. Tony grew up inside the industry, watching his mother manage the building where he was raised. Ten years ago, he started his own property management company, and today, it is one of the largest on Canada’s East Coast and supports seven subsidiary businesses from landscaping to commercial cleaning to a real estate brokerage.

On this episode of Apartment Building Investing, Tony joins me to explain how he developed The Doorpreneur Way and what it meant for his property management company in terms of productivity and profit. He offers insight around how to hire a third-party property manager, what the ideal investor-property manager relationship looks like, and why it can be difficult to manage to a pro forma. Listen in for Tony’s innovative ideas for driving additional revenue and learn when it makes sense to self-manage your portfolio and when to outsource the job.

Key Takeaways

Tony’s extensive experience in property management

  • Mom was resident manager, VP of management company
  • Started own company 10 years ago (3 locations, 2K doors)

What inspired Tony to write The Doorpreneur Way

  • Building out other companies created new level of respect
  • Help others make business more productive + profitable

Tony’s advice on hiring a third-party property manager

  • Investors need hands-on experience to develop empathy
  • Learn enough to ‘manage the managers’

The ideal relationship between property managers and investors

  • Get to know each other up front
  • Engage minimum of once a month to review financials

Tony’s approach to working with sophisticated investors

  • Weekly call to discuss vacancies, major maintenance issues
  • Monthly financial call to review budget vs. actuals

What makes it difficult for property managers to stay on budget

  • Lack systems + processes for managing to pro forma
  • Pressure to please tenants, don’t look at expenses
  • Failure to include staff in financial discussions

Tony’s Doorpreneur Model

  1. Determine where subbing out most work
  2. Market research in new area
  3. Cut teeth on own properties
  4. Open door to general public

Tony’s best practices for property managers

  • Proactive communication with investors
  • Proper accounting + due diligence
  • Educate owners on new trends, tech

Innovative ways to increase revenue and reduce expenses

  • Transition from coin machine to card-based laundry
  • Offer internet service for units
  • Smart apartment technology

Tony’s insight around personal development practices

  • Develop self-awareness with meditation, journaling
  • Self-reflection allows us to better serve others

Connect with Tony LeBlanc

Doorpreneur

Doorpreneur on Facebook

Doorpreneur on Instagram

Resources

The Doorpreneur: Property Management Beyond the Rent Roll by Tony LeBlanc

Save Water Co

The Leader Who Had No Title by Robin Sharma

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Sponsor

The Investor Incubator Mentorship Program

Dec 23 2019

48mins

Play

MB 192: Crush Limiting Beliefs & Be a Multifamily Syndicator – With Sterling White

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Are limiting beliefs stopping you from becoming a multifamily investor? When Sterling White got his start in real estate, he was crashing in a friend’s den. He had no money in the bank and zero credit. But Sterling DID have a willingness to learn, and he understood that the best way to approach a potential mentor was to provide value.

Today, Sterling is a seasoned real estate investor and philanthropist based in Indianapolis. He got his start in 2009, building a portfolio of 150 SFH before transitioning to multifamily in 2017. To date, Sterling owns a total of 587 single- and multifamily units, and he is a frequent contributor to BiggerPockets. He also serves as the host of The Real Estate Experience podcast and author of From Zero to 400 Units: How I Found Another Path & Discovered Freedom Through Real Estate.

On this episode of Apartment Building Investing, Sterling joins me to explain how he got his start in real estate, working for a mentor (for free!) to find SFH buy-and-hold deals. He discusses his transition to multifamily, sharing his bold approach to finding off-market deals and the resources he uses to get in touch with property owners. Listen in for Sterling’s insight on providing value to attract investors and learn how to overcome the limiting beliefs that are keeping you from achieving financial freedom with multifamily investing!

Key Takeaways

Sterling’s journey to real estate investing

  • Grew up in Section 8 housing with single mom
  • Natural entrepreneur, figure things out on own
  • Work for free with mentor to build SFH portfolio
  • Shift to multifamily in 2017 (587 units total)

How Sterling developed an interest in real estate

  • Work construction for college roommate’s dad
  • Liked seeing transformation of distressed asset
  • Learned that most successful owned portfolio

How Sterling provided value to his mentor early on

  • Hustle to find SFH deals
  • Assist with digital marketing

Sterling’s first SFH investing deal

  • $25K property + $25K in renovations (financed by mentor)
  • Responsible for everything else associated with transaction

What inspired Sterling’s transition to multifamily

  • Economies of scale (multiple doors at one location)
  • Ability to control own destiny, influence value

Sterling’s first multifamily investing deal

  • 46-unit seller financing deal ($200K down on $900K)
  • Brought on SFH investors to raise $ for renovations

How Sterling hustles to find new deals

  • Approach owner directly, pitch on cold call
  • Strategic follow up (e.g.: birthday card)

Sterling’s resources for finding owner contact info

Sterling’s advice on marketing to attract investors

The evolution of how Sterling raises money for deals

  • Friends and family through fund for SFH
  • Preferred return to start with multifamily
  • Now straight equity (85% to LPs, 15% to GPs)

The limiting beliefs that hold aspiring investors back

  • Need large amount of own capital
  • Fear of failure OR success

Sterling’s insight on the value of time

  • Pay someone to do low-value activities
  • Willing to spend extra to save time

Connect with Sterling White

Sterling on BiggerPockets

Resources

Earl Nightingale

Rich Dad Poor Dad by Robert T. Kiyosaki

LoopNet

CoStar

Reonomy

ListSource

BeenVerified

TruePeopleSearch

LexisNexis

Fiverr

Upwork

BiggerPockets

The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss

Grant Cardone on Lewis Howes’ Podcast

Michael’s Free Webinar: How to Do Your First Apartment Deal (Without Experience or Using Your Own Money)

Michael’s Mentorship Program

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Dec 16 2019

41mins

Play

MB 191: Raising Millions for Multifamily Deals—In Minutes! – With Josh Cantwell

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If you want to raise money, I mean REALLY raise money, you need a thought leadership platform. Yes, at the beginning of your career, you will onboard passive investors one at a time. But once you’ve exhausted your network and you’re ready to scale, you’ll need to leverage online marketing techniques to expand your investor base and raise millions for multifamily deals—on a very short timeline.

Josh Cantwell is the CEO of Strategic Real Estate Coach, a program dedicated to giving real estate investors and agents the most advanced training in the business. Josh is the top real estate investor in his community, buying and selling more than 600 properties since 2003, and he regularly partners with other investors to close deals all over the US. He is also the author of The Flip System: Your Real Estate Investing Playbook to Create Financial Freedom and Peace of Mind and the CEO of Freeland Ventures Private Equity and Direct Real Estate Lending, helping investors get funding both residential and multifamily deals.

On this episode of Apartment Building Investing, Josh joins me to explain how his experience with pancreatic cancer changed his personal and professional life, sharing the strategies he uses to be more purposeful with his time and put his family first. He discusses why he chose capital raising for multifamily over syndicating deals and describes his process for raising millions of dollars—in just a few hours. Listen in for Josh’s advice to aspiring capital raisers and learn his four steps to building an online platform that attracts multifamily investors.

Key Takeaways

How Josh’s bout with pancreatic cancer changed his life

  • Focus on being family man first
  • Invest in things that pay in perpetuity

The strategies Josh uses to be purposeful about his time

  • Mornings for strategic thinking
  • Activities that give energy in afternoon (e.g.: investor calls)

Josh’s multiple business ventures

  • Private + hard money lender for residential real estate
  • Raise capital for multifamily via crowdfunding platform
  • Joint venture to raise capital for multifamily

The limiting beliefs that kept Josh away from multifamily

  • Not educated, smart enough
  • Surgery forced out of comfort zone

Why Josh chose raising capital over syndicating deals

  • Background in raising money (funding = freedom)
  • Joint venture with experienced investors

How Josh raises millions of dollars for multifamily in hours

  • Share potential deals in discovery interviews
  • Create scarcity in webinar (e.g.: 400 invites, 12 spots)

Josh’s tips for creating an online platform to raise capital

  1. Start with an irresistible offer
  2. Identify your investor avatar
  3. Be strategic about networking
  4. Reach out with regular content

Josh’s advice for aspiring capital raisers

  • Put yourself in second position
  • Raising money not a ‘forever business’
  • Stay in front of potential investors
  • Educate without asking for money
  • People will test with small investments

Connect with Josh Cantwell

Strategic Real Estate Coach

The Flip System by Josh Cantwell

Josh on Facebook

Resources

Michael’s Free Masterclass

Dr. Oz’s ‘The Power of a Nap’

Jack Petrick on ABI EP123

National Real Estate Investors Association

Michael’s Platform Page

Michael’s Free eBook

Nighthawk Equity

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Dec 04 2019

55mins

Play

MB 190: From VA Loan to Multifamily Investing Career – With Phil Capron

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When Phil Capron went through special ops training for the US military, he noticed that the recruits who made it to the end weren’t necessarily the strongest or the fastest or the smartest. So, what differentiated the 20 who succeeded from the thousands vying for the job? They simply refused to quit. And Phil believes that the same principle applies to making it in multifamily investing.

Phil is a former Special Warfare Combatant Craft Crewman in the US Navy and current full-time multifamily real estate investor. To date, he owns a 245-unit portfolio worth $15M in Coastal Virginia and shares his understanding of the space as a Senior Mentor with the Michael Blank Organization. Phil specializes in revitalizing distressed and underperforming assets to ensure profitability for his team and change neighborhoods for the better. He is also the author of the new release Your VA Loan: And How it Can Make You a Millionaire.

On this episode of Apartment Building Investing, Phil joins me to explain how taking advantage of a VA loan sparked his initial interest in real estate. He walks us through his transition from working in a brokerage and flipping houses to full-time multifamily investing, sharing his advice around when to quit a W-2 job for real estate. Listen in for Phil’s insight into what differentiates his successful mentoring students from those who don’t progress and learn how the grit he developed in military special ops training informs his investing career.

Key Takeaways

How Phil got started in real estate

  • Enlisted in US Navy at age 24
  • Bought 4BR SFH with VA loan
  • Friends rented rooms (live for free)
  • Real estate license, flip houses

What inspired Phil’s transition to multifamily

  • Trying to sell 13-unit for commission
  • Buyer turned down owner financing
  • Phil bought himself, rent checks roll in
  • Proved economy of scale concept

When Phil started investing full-time

  • 18 months into multifamily
  • Established 200-unit portfolio

Phil’s advice on when to quit your job

  • Make decision and write down plan
  • Save up 9 months of living expenses

Phil’s take on why people don’t take action

  • Perceive quality of life as good enough
  • Fear of success leads to self-sabotage

How Phil spends his days as a full-time investor

  • Look for deals + manage portfolio
  • Work with students on their deals
  • Surf, skydive and travel

Phil’s insight on why your story matters

  • Experience with bank (decision based on team)
  • Get gritty about not giving up

Connect with Phil Capron

Phil’s Website

Phil’s Podcast

Phil on Facebook

Resources

Your VA Loan: And How It Can Make You a Millionaire by Phil Capron

VA Home Loans

BiggerPockets

FHA Loans

Tyler Sheff

Drew Whitson

Financial Freedom Summit

Michael’s Mentorship Program

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Nov 22 2019

40mins

Play

MB 189: Empowering Women Entrepreneurs & Real Estate Investors – With Olenka Cullinan

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Real estate investing conferences are one of the few places where there is no line to the women’s restroom. And while that may be a relief to the female entrepreneurs in attendance, it can also be very discouraging. Why are there so few women playing in the multifamily space? And what can we do to encourage more women to become entrepreneurs and investors?

Olenka Cullinan is the Business Coach behind #iStartFirst, a platform dedicated to inspiring women to achieve their full potential. Through her online bootcamps, #iStartFirst Bossbabes Summit and national speaking engagements, Olenka empowers women to up-level their mindset, overcome their fears and build successful careers.

On this episode, Olenka joins me to explain why there are so few female entrepreneurs and what she is doing about it through #iStartFirst. She speaks to the limiting beliefs many women share and describes how the female mind works differently when it comes to making deals. Listen in for Olenka’s insight around the power of mentorship to help you start or scale your business and learn why you don’t necessarily have to be in the limelight to be a leader!

Key Takeaways

Olenka’s entrepreneurial journey

  • Move to US from Russia at 21 with $450
  • Struck by lack of women in venture mentorship program

Olenka’s advice to her younger self

  • Get mentors early
  • Bring in people to share vision

The story behind #iStartFirst

  • Inspired to fix lack of women entrepreneurs
  • Listen to people serve for next iteration

Why there are so few female entrepreneurs

  • Women shy to make moves, hold back ideas
  • Socialized to supportive role as wife + mother

Olenka’s insight around building your brand

  • It’s about messenger, not message
  • Selfish NOT to share

The limiting beliefs many women share

  • Imposter syndrome
  • Feel like not enough

How women differ from men in making deals

  • Long-term commitment once decision made
  • ‘Everybody wins’ community mentality

The idea behind #iStartFirst

  • Can’t view men as financial plan
  • Must start saving ourselves

Olenka’s take on women in supporting roles

  • Don’t have to be in limelight to be leader
  • Affirmations lead to breakthrough

Olenka’s idea client

  • Women who want to start/scale business
  • Up-level mindset to grow in career

What women learn at Olenka’s bootcamp

  • ‘I can do anything’
  • Balance personal + professional life

Olenka’s concept of an Alpha Woman

  • Try to be like men
  • Get into drive zone, lose feminine side

Olenka’s advice to aspiring female entrepreneurs

  • Already have everything needed inside you
  • 90 seconds of fear will elevate to next level

Connect with Olenka Cullinan

Olenka’s Website

iStartFirst

Resources

Stop Preparing Start Doing eBook

Rising Tycoons

Olenka’s TEDx Talk

Tony Robbins

John Maxwell

Robert Kiyosaki

Passionistas: Tips, Tales and Tweetables from Women Pursuing Their Dreams by Olenka Cullinan et al.

Purpose, Passion & Profit by Olenka Cullinan et al.

Michael’s Mentorship Program

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Nov 19 2019

43mins

Play

MB 188: STOP Saving Your Money & START Investing in Multifamily – With Grant Cardone

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Do you have your money right? Or are you handing it over to Wall Street and hoping for the best? What if I told you that the secret to true wealth is to STOP saving your money and START using it to invest in real assets—like multifamily real estate!

Grant Cardone is the CEO of Cardone Capital, a multifamily real estate investment firm with more than $1.36B in assets under management. He is also an international speaker and bestselling author, well-known for creating the 10X Movement and 10X Growth Conference. Grant was named the #1 marketer to watch by Forbes, and he is a widely respected entrepreneur who owns and operates seven privately held companies.

On this episode, Grant joins me to share what he’s investing in now, discussing what kind of returns he expects on multifamily deals. He walks us through a day in the life of Grant Cardone, sharing his secret to work-life balance, his definition of true wealth, and his thoughts on the importance of spirituality. Listen in to understand what is driving Grant to build a legacy and learn how his Reg A fund serves non-accredited investors.

Key Takeaways

What Grant’s investing in right now

  • $473M portfolio in 5 properties, 2K+ units
  • Well-located and institutional quality
  • Deals with competition (list of buyers)

Why Grant avoids value-add multifamily deals

  • Lack of salary growth in America
  • ‘Value-add story will hit limits’

The returns Grant expects from multifamily investments

  • 5 to 6% cashflow, 15% IRR
  • $40M down becomes $135M in 30 years

Why Grant started a Reg A fund with $5K minimums

  • Moral issue to support ‘little guy’
  • Not true that < sophisticated, more trouble

A day in the life of Grant Cardone

  • Time for gym, self-improvement
  • Shut down work at 6pm for dinner

Grant’s secret to work-life balance

  • Don’t invest in anything with potential to lose
  • No worry more important than high returns

How Grant’s approach to money has changed

  • Used to scrounge, act like miser
  • Now use money to make life easy

What drives Grant to keep growing

  • Legacy for family, change community
  • Produce something of value = live forever

Grant’s insight on taking it to the next level

  • From $90M deal to $900M
  • Good friends will challenge

Grant’s definition of wealth

  • Money, time, love, health and purpose
  • Continuous learning = expansive

The role of spirituality in Grant’s life

  • Spirit comes before and after body
  • Best ideas come from beyond mind

Grant’s advice for ABI listeners

  • Get your money right (use, don’t save)
  • Invest in real estate with someone you trust

Connect with Grant Cardone

Grant’s Website

Cardone Capital

Resources

Cardone University

10X Growth Conference

Grant on Lewis Howes’ Podcast in 2017

The 10X Rule: The Only Difference Between Success and Failure by Grant Cardone

The Millionaire Booklet: How to Get Super Rich by Grant Cardone

Robert Kiyosaki on Apartment Building Investing EP160

The Real Estate Guys

What’s the Best Investment: The Stock Market or Real Estate?

Nighthawk Equity

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Nov 11 2019

40mins

Play

MB 187: Raise Capital for Real Estate Through Content Creation – With Hunter Thompson

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Raising capital for multifamily real estate deals strikes fear in the heart of many an aspiring syndicator. But what if you didn’t have to chase leads? What if you could ATTRACT high-net-worth individuals and bring in investments of $100K (or more!) with a single phone call? It IS possible, provided you commit to consistent content creation and position yourself as a thought leader in the space.

Hunter Thompson is the Managing Principal at Asym Capital, a real estate investment firm that helps clients build a diverse portfolio around low-risk cashflow production. With nearly 10 years of experience in fund management, Hunter is a prolific writer on the finance of commercial real estate and the host of Cash Flow Connections. His new book, Raising Capital for Real Estate, teaches aspiring operators the art of establishing credibility, attracting investors and funding deals at scale.

On this episode of Apartment Building Investing, Hunter joins me to share his experience raising capital for real estate deals and building a thought leadership platform to attract passive investors. He explains how to get started with content creation, what to do if you’re not a great writer, and why content is crucial if you want to scale. Listen in for Hunter’s insight on picking a niche that fits with who you are—and learn his process for building an infrastructure that attracts and nurtures high-net-worth investors.

Key Takeaways

Hunter’s journey to multifamily investing

  • Stock market volatility motivated to try real estate
  • Raise capital for opportunities across asset classes

What Hunter looks for in a joint venture partner

  • Best-in-class operators with $100M under management
  • Systems in place but haven’t built out investor relations

Hunter’s experience of writing Raising Capital for Real Estate

  • Wrote in < 3 months, editing process takes much longer
  • Outlines process of creating platform to attract investors

Hunter’s advice on how to get started with content creation

  • Brainstorm list of 100 potential articles and rate top 10
  • Identify and mimic industry leaders for topic ideas

What to do if you’re not necessarily a great writer

  • Practice regularly, build up to 1K words per hour
  • Ask friend to interview you and transcribe with Rev

How to develop a commitment to consistent content creation

  • Start small and schedule 1 post every 2 weeks
  • Consider blocking off time to batch content

Hunter’s take on why content is important

  • Scalable way to attract + nurture new leads
  • Build credibility, close with single phone call

How to define the kind of investor you want to attract

  • Biproduct of being yourself
  • Don’t try to appeal to everyone

Hunter’s process of building a thought leadership platform

  • Started with writing articles in 2013
  • Add podcast in 2016, book this year

Hunter’s advice for starting your own real estate platform

  • Pick a niche (okay to pivot later)
  • Use free content to get leads into infrastructure

Connect with Hunter Thompson

Raising Capital for Real Estate

Cash Flow Connections Real Estate Podcast

Intelligent Investors Real Estate Conference

Email info@raisingcapitalforrealestate.com

Resources

Hunter on ABI EP087

Raising Money Summit

Pitch Anything: An Innovative Method for Presenting, Persuading, and Winning the Deal by Oren Klaff

Best Ever Apartment Syndication Book: A Four-Part System for Raising Money and Buying Apartments by Joe Fairless and Theo Hicks

Rev

Corey Peterson

Jeremy Roll on Cash Flow Connections EP001

Investor Mindset Podcast

What’s the Best Investment: The Stock Market or Real Estate?

Nighthawk Equity

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Nov 07 2019

44mins

Play

MB 186: The Predictability of Passive Investing in Multifamily – With Spencer Hilligoss

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W-2 jobs give us a sense of security. But what happens if you lose your job or can’t work due to illness or injury? Spencer Hilligoss wanted to play financial defense and build enough passive income to keep the lights on for his family should something unexpected happen. And though real estate gets a bad rap for being a risky investment, Spencer discovered that multifamily is actually very predictable. In fact, it’s the best kind of boring! 

Spencer has 13 years of experience in tech startups, building high-performing teams across five companies—three of which valued at more than $1B. He currently serves as the Senior Director of Professional Development for LendingHome, the largest residential flip lender in the country. Spencer is also the Cofounder and Principal at Madison Investing, a real estate education platform dedicated to helping busy professionals build passive income, and a contributing writer and member of Forbes Real Estate Council.

On this episode, Spencer joins me to explain how the ‘dark decade’ he endured as a young man inspired him to pursue passive income through real estate. He shares his approach to financial planning, describing how he and his wife set goals and analyze deals together. Listen in for Spencer’s insight around the benefits of passive investing in multifamily over SFH strategies and learn exactly what he looks for in a sponsor, a market and a deal.

Key Takeaways

What’s keeping Spencer at his W-2 job

  • Take care of team at work
  • Don’t want to pull ripcord too soon

How Spencer got into real estate

  • Dad was top-performing real estate broker
  • Brother’s death + parent’s divorce led to bankruptcy
  • Pursue real estate to play defense financially

The Silicon Valley wealth playbook

  1. Join early stage tech startup for equity
  2. Work 16-hour days
  3. Pray for liquidity event
  4. Save for retirement (can’t access)

Spencer’s path to multifamily investing

  • Tech startup lends to real estate investors
  • Get educated and compare strategies
  • Built SFH portfolio of 7 (not passive)

How passive investing in multifamily differs from SFH

  • Analyze deal and build relationships up front
  • Double money in 5 years, don’t lift finger to manage

Spencer’s approach to financial planning

  • Based on being great parent, giving back
  • Work toward $8K/month passive income

What Spencer looks for in a sponsor

  • Track record (trustworthiness, grit, etc.)
  • Approach
  • Team
  • Communication

Spencer’s advice for new syndicators

  • Leverage partnerships and coaching
  • Borrow credibility from experienced investors

What Spencer looks for in a market

  • Strong job growth
  • Employers = counterweight to correction

What Spencer looks for in a deal

  • Specific plan to add value
  • Firsthand photos/videos beyond pro forma

What’s next for Spencer

  • More active to accelerate timeline
  • Scale impact through educational platform

Connect with Spencer Hilligoss

Madison Investing

Spencer On LinkedIn

Email spencer@madisoninvesting.co

Resources

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money—That the Poor and Middle Class Do Not by Robert T. Kiyosaki

City-Data

Department of Numbers

What’s the Best Investment: The Stock Market or Real Estate?

Nighthawk Equity

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Nov 04 2019

49mins

Play

MB 185: Creating an Uber-Like Resident Experience for Apartment Buildings – With Patrick Antrim

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Technology has succeeded in disrupting several industries. Think about what Uber has done to the taxi business. Or how Airbnb has changed hotels. These innovations work because they create a frictionless experience for consumers. So, how might #proptech disrupt multifamily? And how can apartment investors leverage technology to better the resident experience and compete in the market of the future?

Patrick Antrim is the Founder and CEO of Multifamily Leadership, a thought leadership platform that researches the best in innovation and leadership in the multifamily space. He has 18 years of experience managing the portfolios of some of America’s most influential real estate entrepreneurs and business titans, including Forbes billionaire George Argyros. Patrick is also the host of the Multifamily Leadership Podcast and the creator of the Multifamily Leadership Summit.

On this episode, Patrick joins me to share his take on shifting renter expectations and explain why investors of the future need to understand technology. He describes how we can use tech to improve the tenant experience and why class B and C operators shouldn’t dismiss tech as a luxury amenity. Listen in for Patrick’s insight around current trends in multifamily and learn how his organization is exploring the intersection among technology, leadership and resident journey.

Key Takeaways

How Patrick got into the asset management space

  • Retire from playing for New York Yankees
  • Apprentice to former Mariners owner (5K multifamily units)
  • Grew relationships with HNWI to manage $1.2B portfolio

Patrick’s take on shifting renter expectations

  • Look at multifamily as consumer category
  • Unique opportunity for operators to add value

Why investors of the future need to understand technology

  • Lift on revenue (e.g.: $55/month for smart home)
  • Compete with luxury developments
  • Future valuations based on tech in buildings
  • Save up to $100K/year on expenses

How we can use tech to improve the tenant experience

  • AI voice assistant to answer calls
  • Upgrade leasing journey (i.e.: digital applications)
  • Smart appliances, IoT devices in units

Patrick’s insight on tech in class B and C properties

  • Consumers quick to adopt tech (e.g.: Wi-Fi)
  • Impact operational inefficiencies like keys, work orders
  • Eliminate need for leasing agent at small properties

Why property management companies are slow to adopt tech

  • Investors already winning, don’t have to think ahead

Patrick’s thoughts on current trends in multifamily

  • Talent as last competitive advantage
  • Resident experience drives returns
  • Discussion around affordable housing

Patrick’s mission with Multifamily Leadership

  • Collision of tech, leadership and resident journey
  • Design co. to attract talent, residents + investors

Patrick’s advice for aspiring multifamily operators

  • Focus on creating value long term
  • Make sure incentives aligned

Connect with Patrick Antrim

Multifamily Leadership

Multifamily Leadership Podcast

Patrick on LinkedIn

Resources

Michael’s Mentorship Program

George Argyros

John Saunders

LeaseHawk

SmartRent

PointCentral

Vivint Smart Home

Urbandoor

STRATIS IoT

BIM Technology

Shadow Summit

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Oct 28 2019

40mins

Play

MB 184: Building a Platform to Market Your Multifamily Brand – With Kyle Wilson

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So, you’re getting into the business of multifamily real estate. Like it or not, you’re also getting into the business of marketing and promotions. But how do you build a platform online and attract the capital you need to grow?

Kyle Wilson is a marketing icon in the personal development space, promoting the likes of Og Mandino, Les Brown, and Robin Sharma, just to name a few. For 18 years, he served as Jim Rohn’s business partner, taking Jim from 20 speaking events per year at $4K each to 110 events at $25K—and creating Jim Rohn International along the way. Today, Kyle does high-end coaching and consulting and hosts the Kyle Wilson Inner Circle Mastermind. He has helped more than 200 thought leaders become published authors with multiple bestselling books.

On this episode, Kyle joins me to explain how he got into the personal development space and reflect on the top lessons he learned from working with legends like Jim Rohn, Zig Ziglar and Brian Tracy. He shares his best marketing principles for building a brand, discussing how tactics have changed over time but principles haven’t. Kyle walks us through an exercise for finding your secret sauce and describes the 4 things that he looks for on a website. Listen in for Kyle’s insight around building a platform and learn how to promote yourself as a multifamily real estate investor!

Key Takeaways

How Kyle got into the personal development space

  • Moved to Dallas at age 26, attended seminar
  • Offered job making cold calls + selling tickets
  • Started own venture and partnered with Jim Rohn

The top takeaways Kyle learned from Jim Rohn

  1. Key to better future is YOU
  2. Success is predictable
  3. Be a student, not a follower
  4. How can I bring value?

Kyle’s marketing principles for building a brand

  • Connect the dots
  • Tactics change but principles don’t
  • Great product
  • Customer service
  • Consistent
  • Relational
  • Be strategic (one thing knocks down ALL dominoes)
  • Leverage ‘the wheel’

How marketing tactics have changed over time

  • From commodity products to free content
  • Start with social media + build email list

What Kyle wants to see on a website

  1. Mystique
  2. Taglines
  3. Social proof
  4. Creative opt in

Kyle’s favorite lessons from his newsletter

  • It takes time to build something great
  • Pay the price now
  • Never do good deal with bad guy
  • Prime time is big time

Why Kyle came out of retirement

  • Unhappy, open to personal development
  • Connect talented people with right audience

How to find your own secret sauce

  • What am I good at?
  • What do I enjoy?
  • What are my successes?
  • How do others see me?
  • What am I FOR?
  • What am I AGAINST?

The challenge around putting yourself out there

  • Tendency to diminish own story
  • How much influence do you want to have?

Connect with Kyle Wilson

Kyle’s Website

Inner Circle Mastermind

Kyle’s Book Program

Resources

Michael’s Free Webinar: How to Do Your First Apartment Deal (Without Experience or Using Your Own Money)

Uganda Counseling and Support Services

Jim Rohn

Zig Ziglar

Brian Tracy

Mark Victor Hansen

Darren Hardy

Og Mandino

John Maxwell

SUCCESS Store

Chris Widener

Ron White

Earl Nightingale

Tony Robbins

Les Brown

Passionistas: Tips, Tales and Tweetables from Women Pursuing Their Dreams by Erika De La Cruz et al.

The Real Estate Guys

Seth Mosley

Phil Collen

John Assaraf

Resilience: Turning Your Setback into a Comeback by Kyle Wilson, Lisa Haisha, Keith Elias, Ron White, Nick Bradley, Chris Widener, Steve Fitzhugh, Nathan Ogden & Michael Blank

Chicken Soup for the Entrepreneur’s Soul: Advice & Inspiration for Fulfilling Dreams by Jack Canfield, Mark Victor Hansen & Dahlynn McKowen

Newy Scruggs

Hal Elrod

Deal Maker Live

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Oct 21 2019

55mins

Play

MB 183: Pursue a Meaningful Life Through Multifamily Investing – With Drew Whitson

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Most of us would really like to live a life of purpose. Problem is, working a traditional W-2 job can take all the good out of you. We come home exhausted and have little bandwidth left for our families, so the idea of serving others seems totally out of reach. But what kind of impact could you make if your living expenses were covered? What if you had the time freedom to pursue a meaningful life? What if multifamily real estate investing could get you there in three years?

Drew Whitson is a full-time real estate investor with a portfolio of 1,000-plus units in five states. He also happens to run The Michael Blank Investor Incubator, serving as a mentor and coach to help aspiring multifamily investors do their first apartment building deal. Drew spent 16 years working in corporate finance before leaving his W-2 job at a boutique investment banking firm in early 2018 to focus exclusively on his real estate career.

On this episode, Drew joins me to explain how achieving financial freedom has given him the opportunity to pursue a meaningful life.  He describes how getting laid off twice in a single year inspired him to control his own destiny by way of multifamily syndication. Drew walks us through his first few apartment building deals and discusses why buying a 32-unit property was so much easier than a fourplex! Listen in for Drew’s insight around raising money BEFORE you have a deal under contract, getting brokers to take you seriously as a newbie, and joint venturing with partners who share your vision for the future.

Key Takeaways

How financial freedom changed Drew’s life

  • Opportunity to pursue meaningful things
  • Impact world through service to others

The capacity to live a meaningful life AND work full-time

  • Must be extraordinarily intentional
  • Options open up once expenses covered

What inspired Drew to build an identity beyond his W-2

  • Laid off twice in single year
  • Sense of determination to control own destiny

Drew’s real estate experience prior to quitting his job

  • Bought multiple SFH when market down
  • Built portfolio of 400 multifamily units

What drew Drew to multifamily investing

  • Only asset can buy with other people’s money
  • Appreciation, resilience, tax benefits and scale

Drew’s first multifamily real estate deals

  • Bought fourplex with partner through Wells Fargo
  • 32-unit with small commercial lender much easier

Drew’s experience of raising money for the first time

  • Terrified of losing friends/family money
  • Learned that money follows good deals

How to raise money WITHOUT a deal under contract

  • Put together sample deal package
  • Soft commitments from potential investors

How to get brokers and investors to take you seriously

  • Build great team to help execute
  • Be specific about what you want
  • Use right language
  • No substitute for action

How long it takes Drew’s students to get competent

  • 30 days to get comfortable with language
  • 90 days for market analysis, team and tools

The power of joint venturing in multifamily

  • Engaged community keeps you motivated
  • Play to strengths + scale portfolio together

Drew’s advice for aspiring multifamily syndicators

  • Find likeminded people at Meetup groups
  • Get educated through books and podcasts
  • Commit to vision and take ACTION

Connect with Drew Whitson

The Michael Blank Investor Incubator

Resources

Dave Ramsey’s Financial Peace University

Drew Kniffin

Nighthawk Equity

David Kamara on ABI EP182

Meetup.com

Deal Maker Live

The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable by Hal Elrod

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Oct 14 2019

39mins

Play

MB 182: An Action-Oriented Approach to Financial Freedom with Multifamily – With David Kamara

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Real estate investors come in many different shapes and sizes. Some young, some older. Some with financial resources, others without. But the one thing they ALL have in common is hustle. They balance learning with DOING, taking action to achieve their dreams of financial freedom through multifamily.

David Kamara was working a demanding job in management consulting, traveling as much as 48 weeks a year. In an effort to spend more time with his family, David enlisted the help of a mentor to fast-track his real estate career and closed on his first 40-unit multifamily deal in October of 2018. Within a year, David had replaced his income, and today, he has a portfolio of 247 units. He runs his own management consulting business as well as Cape Sierra Capital, an apartment building investing firm that focuses on undervalued multifamily properties in the Midwest and Southeast US.

On this episode, David joins me to explain how his daughters inspired him to make time for multifamily and what he did to get started.  He walks us through his first 40-unit deal, discussing how having a mentor helped get brokers to take him seriously. David also shares his experience with the Law of the First Deal, explaining how he had two more deals under contract within two months of closing! Listen in for David’s advice to aspiring multifamily investors and learn his action-oriented approach to achieving financial freedom—with or without financial resources of your own!

Key Takeaways

David’s initial real estate goals

  • Buy one house per year
  • Scale up to build wealth

What made David’s plan change

  • Demanding new job as management consultant
  • Moved to Michigan with growing family (4 kids)

What inspired David’s shift to multifamily

  • Work-life balance suffering
  • Replace time spent training for marathons

What David did to get started

What David liked about his first 40-unit deal

  • Nearby complex rents $100 more (wait list)
  • Major employer in area

How David got brokers to take him seriously

  • Introductions from mentor
  • Use right language to avoid proof of funds

David’s experience with the Law of the First Deal

  • Found 18-unit in Chicago within 2 months
  • First broker proposed partnership on 37-unit

David’s first multifamily syndication deal

  • Fully rented 94-unit in MI college town
  • Investors from professional network

How David found time to do real estate with a full-time job

  • Wake up early, stay up late
  • DECIDE to make time for what’s important

David’s advice for aspiring multifamily investors

  • Balance learning with DOING
  • Go out and buy multifamily property

What David would have done without financial resources

  • Create sample deal package
  • Educate potential investors, address objections

Connect with David Kamara

Cape Sierra Capital

Email david@capesierracapital.com

Call (773) 263-2657

Resources

Syndicated Deal Analyzer

The Ultimate Guide to Buying Apartment Buildings with Private Money

LoopNet

Josh Sterling on ABI EP091

Josh Sterling Mentor Bio

Deal Maker Live

The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable by Hal Elrod

Michael’s Mentoring Program

Financial Freedom Summit

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Oct 07 2019

42mins

Play

MB 181: Double Your Money Through Passive Investing in Multifamily – With Jan Larson

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What kind of returns can a passive multifamily real estate investor expect? What if you could double your money in just five or six years? And pay little or nothing in the way of taxes?

Jan Larson spent 25 years in the high-stress world of semiconductor development, most recently working for Amazon. He had always been interested in real estate investing but did not want to deal with 3AM phone calls about clogged toilets. Five years ago, a colleague introduced him to a passive investing opportunity, and Jan was hooked. Today, he has invested in 28 multifamily deals involving 34 properties, and in January, Jan had enough passive income to quit his job.

On this episode, Jan joins me to discuss how his life has changed since he quit his job through passive investing in multifamily. He explains how living through the stock market meltdowns in 2000 and 2008 inspired him to diversify with apartment buildings, describing what he loves most about multifamily and sharing the returns passive investors can expect. Listen in for Jan’s advice on how to get started with passive investing and learn how he evaluates deals based on the sponsor and the submarket!

Key Takeaways

How Jan’s life has changed since he quit his job

  • High-pressure work in tech industry
  • Much less stress now

How Jan got started with passive investing

  • Introduced to multifamily by colleague
  • Steady deal flow snowball from there

Why Jan chose real estate over the stock market

  • Lived through meltdown of 2000 + 2008
  • Diversify to reduce exposure to market

What Jan loves about passive investing in multifamily

  • Not binary
  • ‘Set it and forget it’

What allowed Jan to invest in 28 deals in 5 years

  • Liquidated stock investments and Roth IRA
  • Rolled proceeds of sales into other deals

How refinancing a property benefits passive investors

  • % of investment returned (redeploy in new deal)
  • Cash-on-cash return of remaining = 25-30%/year

The returns a passive investor can reasonably expect

  • 8-10% cash-on-cash returns
  • Double money in 5 or 6 years

Jan’s insight around the tax benefits of multifamily

  • Depreciate faster with cost segregation
  • Haven’t paid any taxes on CoC returns

What Jan looks for in a multifamily deal

  • Trustworthy sponsor with track record
  • Submarket in particular + overall market

Jan’s advice for aspiring passive investors

  • Find Meetups to meet sponsors
  • Vet by talking to other investors

Jan’s top takeaway for potential passive investors

  • Multifamily investing gives options

Connect with Jan

Email jan.a.larson@gmail.com

Resources

What’s the Best Investment: The Stock Market or Real Estate?

Nighthawk Equity

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Sep 30 2019

27mins

Play

MB 180: Adding Gold to Your Investment Portfolio – With Dana Samuelson & Brien Lundin

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As multifamily investors, we’re all looking to build wealth and achieve financial freedom. The scary part is, we don’t have control over how much our money is worth. And as our government continues to print money with wild abandon and accumulate massive debt, the value of the US dollar declines. Yes, we’re smart to invest in physical assets like real estate to hedge against this kind of currency devaluation. But is there something else we could be putting our money in as an insurance policy of sorts? Something that increases in value as paper assets decline?

Dana Samuelson is the President of American Gold Exchange, a leading precious metals and rare coin company. A professional numismatist since 1980, Dana has been involved in a billion dollars’ worth of precious metals transactions. Brien Lundin serves as host of the New Orleans Investment Conference and Executive Editor of the Gold Newsletter, the oldest precious metals advisory in the world. With 40 years of experience, Brien is an expert in precious metals and mining share markets as well as the economic and geopolitical issues that impact them.

On this
episode, Dana and Brien join me to explain why the average real estate investor
should consider adding precious metals to their portfolio. They describe how
gold serves as a counterbalance to paper assets and warn us about the
accelerating devaluation of US currency. Dana and Brien also discuss the
outlook for gold in the current economic climate, offering insight around the
relationship between interest rates and the value of precious metals. Listen in
to understand the process of buying gold and find out why it should be a part
of your overall investment strategy!

Key Takeaways

Dana’s extensive
background and experience

  • President of American Gold Exchange
  • 40 years in precious metals

Brien’s extensive
background and experience

  • Executive editor of Gold Newsletter
  • Host of New Orleans Investment Conference

Why real
estate investors should care about gold

  • Natural counterbalance to paper assets
  • Gold goes up when stocks, real estate go down
  • Global economy weakening in last 6 months
  • Took off in 2008 during crash (liquid asset)

Brien’s
insight around currency devaluation

  • Central bankers print money with wild abandon
  • US $22.5T in debt, interest rates at global
    all-time lows
  • Forgiving debt = accelerates decline in value
  • Will need to borrow to pay interest in next few
    years

The outlook
for gold in the current economy

  • ‘Gold loves cheaper money’
  • Bond yields plummeted in last 6 months
  • Fed forced to cut interest rates further

How interest
rates impact the value of gold

  • Gold has no interest, must pay carrying cost
  • No burden to buy when interest rates low

The 3 ways
to buy gold and other precious metals

  1. Paper trade via ETFs or GLD
  2. Invest in gold mining stock
  3. Physical gold dealer (sovereign minted)

When to
invest in paper vs. physical gold

  • Paper good when confident in uptrend
  • Need physical as foundation (economic
    uncertainty)

The process
of buying and selling physical gold

  • Call or visit reputable dealer to discuss
  • Pay current price + minting premium and dealer
    fee
  • Gold shipped and insured through FedEx or USPS
  • Store in safe, accessible place
  • Sell to any reputable dealer

Brien’s top
takeaway around investing in gold

  • Precious metals are form of freedom
  • Insulate you from mismanagement of currency

Dana’s top
takeaway around investing in gold

  • At least 5% to 10% of portfolio in gold or
    silver
  • Serves as insurance policy for rest of money

Connect with Dana

American Gold Exchange

Email info@amergold.com

Connect with Brien

Gold Newsletter

New Orleans Investment Conference

Resources

Real Estate Guys

Professional Numismatists Guild

Jim Blanchard

Investor’s Guide to Gold & Silver

Robert Kiyosaki

Peter Schiff

Michael’s Free Webinar

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Sep 23 2019

32mins

Play

MB 179: Take the Next Step to Financial Freedom with Multifamily – With Mauricio Ramos

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Too many aspiring real estate investors never take action because they’re waiting for the right time, or they’re holding off until they know EVERYTHING about multifamily. Spoiler alert: That’s never going to happen! So, what if you simply got prepared for the next few steps and moved forward?

Mauricio Ramos is Managing Member at de Medici Group, a multifamily investment firm based in San Antonio. He specializes in acquiring underperforming assets that can be repositioned to improve the quality of life for tenants and build wealth for investors. Mauricio spent ten years as a Project Manager in the commercial construction industry before leaving to pursue real estate full-time in 2016. To date, he controls $2M in assets and has a portfolio of 234 units across Texas.

On this episode of the podcast, Mauricio joins me to discuss how his life is different now that he’s a full-time real estate investor. He describes how a desire to travel inspired him to pursue passive income and explains how he got his start in mobile homes and single-family wholesaling. Mauricio also shares the impetus behind his transition to multifamily, offering advice around raising money for syndications. Listen in for creative strategies to find off-market deals and get Mauricio’s insight on taking the first step—and THEN figuring out your next move!

Key Takeaways

How Mauricio’s
life is different now

  • Time freedom (work out during day, walk dogs)
  • Travel and go to seminars like Deal Maker Live

Mauricio’s
background and experience

  • Grew up in Mexico, came to US on student visa
  • 10 years as civil engineer/construction manager

What
inspired Mauricio to pursue passive income

  • Quit job for 40-day backpacking trip
  • Desire for freedom to pursue travel

Mauricio’s
introduction to real estate

  • Colleague introduced to single-family rentals
  • Paid cash for mobile homes, wholesaled SFH

Mauricio’s
first 10-unit multifamily deal

  • Sourced through direct mail campaign in 2017
  • Sold 18 months later for 159% ROI

Why Mauricio
transitioned to multifamily

  • Scalability (10 SFH vs. 10-unit)
  • Able to analyze own deals with SDA

Mauricio’s
second and third multifamily deals

  • Wholesaled 8-unit for 5-figure profit
  • Wholesaled 24-unit for 2X annual W-2 income
  • Used money for mentor, passive investment

Mauricio’s
transition to multifamily syndications

  • Sponsored 16- and 32-unit deals in McAllen
  • Raise money from friends, family and coworkers

Mauricio’s
advice to aspiring syndicators

  • Get educated on SEC compliance
  • Provide opportunity vs. ask for money

What’s next
for Mauricio

  • Expand network with seminars, partnerships
  • Goal to grow 600-unit portfolio in 2020

Mauricio’s
insight on off-market opportunities

  • Lack of creativity rather than deals
  • Rach out to brokers and take first step

How to
proceed without a clear plan

  • Be prepared for next 3 steps
  • Confidence in resourcefulness

Connect with Mauricio

de Medici Group

Email mauricio@demedicigroup.com

Mauricio on Instagram

Multifamily: Invest Differently on Meetup

Resources

Grant Cardone

Deal Maker Live

Rich Dad Poor Dad by Robert T. Kiyosaki

The 4-Hour Workweek by Timothy Ferriss

National Real Estate Investor Association

Driving for Dollars on the App Store

Driving for Dollars on Google Play

Syndicated Deal Analyzer

The Ultimate Guide to Buying Apartment Buildings with Private Money

Michael’s Mentorship Program

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Michael on YouTube

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Sep 16 2019

36mins

Play

MB 178: 10X Your Multifamily Income with an Extended-Stay STR Model – With Al Williamson

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Real estate investors are cautious when it comes to implementing a short-term rental (STR) strategy because of the regulatory uncertainty in the space and the extra expense of hotel taxes. But what if we could enjoy the benefits of an Airbnb model WITHOUT the uncertainty or the extra expense? Al Williamson leverages an extended-stay strategy targeted at business travelers to 10X his net income on a small multifamily property.

Al is a full-time real estate investor and Managing Partner of Easy Corporate Housing, an extended-stay STR housing solution for business travelers in Sacramento, California. He also serves as a speaker, author and mentor for investors through Leading Landlord, a platform designed to help landlords increase their income and equity. Al has developed creative strategies for growing NOI as much as 10X above a conventional landlord operation, and he shares those tactics in his books, Building Wealth with Inner City Rentalsand 40 Ways to Increase the Net Income of Your Rental Property.

Today, Al joins
me to explain how he quit his job as a civil engineer with the cashflow from an
8-unit property in an inner-city neighborhood. He describes how he went about
fixing the neighborhood and discusses what inspired him to experiment with a
short-term rental strategy. Al also shares how to determine your target market
and walks us through the six types of extended stay customers. Listen in for insight
around the benefits of offering 30-day stays and learn how to identify an ideal
property for the extended-stay STR model! 

Key Takeaways

How Al quit
his job with an 8-unit class D property

  • Reposition inner city neighborhood
  • Leverage pay-day rent schedule
  • Rent bicycles, coordinate internet

How Al got
started investing in real estate

  • Started with house hack (3-unit building)
  • Maintenance costs eating up cashflow

Why Al
purchased the 8-unit class D property

  • Value of 3-unit quadrupled, ‘let’s do it again’
  • Remove blight (gangs, guns and prostitution)

How Al went
about fixing the neighborhood

  • Exercise leadership + create sense of community
  • Easy as calling in broken streetlights, parties
  • Offer cash for keys as necessary

What
inspired Al to try a short-term rental strategy

  • Travel for work himself, hated hotels
  • Net income = 8 to 10X traditional model

How Al implemented
a short-term rental strategy

  • Set aside single unit for business travelers
  • Realized benefits of one-month threshold

The best
areas for an extended-stay, STR strategy

  • Near Extended Stay America, Residence Inn
  • Use Airbnb as backup plan

Al’s advice
for determining your target market

  • List on Airbnb and see who comes
  • Build relationships with local businesses

The top 6
types of extended-stay customers

  1. Vacation travelers
  2. Medical
  3. Military
  4. Student housing
  5. Insurance
  6. Temporary

Why Al only
needs a few units to be successful

  • Huge income per unit ($1800/month)
  • Single unit covers cost of mortgage

The ideal
property for an extended-stay STR

  • Margin far above market rent
  • Furnish according to target guest

Connect with Al

Extended Stay Landlord

Leading Landlord

Al on BiggerPockets

Al on LinkedIn

Resources

Mr. Landlord

Building Wealth with Inner City Rentals: Success the Catalytic Landlord Way by Al Williamson

40 Ways to Increase the Net Income of Your Rental Property by Al Williamson

Tim Hubbard on ABI EP111

Michael’s Mentorship Program

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Sep 09 2019

32mins

Play

MB 177: Tech Tools for Data-Driven Multifamily Investing – With Raj Tekchandani

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Advancements in technology allow us to access and analyze an incredible amount of data. But what does this mean for multifamily investors? Can we make use of tech tools to find off-market deals, for example? What if we could automate the underwriting process? How might machine learning facilitate market analysis?

Raj Tekchandani is the Founder and Managing Principal at Smart Capital Management, a real estate investment firm that focuses on the acquisition and management of value-add multifamily properties. Raj brings his significant experience in tech startups to his work as a full-time investor, leveraging data analytics, machine learning and artificial intelligence to identify strategic assets in emerging markets that provide high-yield returns.

Today, Raj
joins me to explain how he got started in real estate, buying condos in Orlando
to supplement his uncertain W-2 income. He discusses what inspired his
transition to multifamily and shares his diverse experience as an active
investor, passive investor, and capital raiser for syndication deals. Listen in
for Raj’s assessment of the available tech tools for real estate and learn how
he quit his job in startups to become a data-driven multifamily investor! 

Key Takeaways

What
inspired Raj’s interest in real estate

  • Uncertainty of work in tech startups
  • Create second income stream

How Raj got
started in real estate

  • Friend buying condos in Orlando (2012)
  • Purchased 9 of own for cashflow

Raj’s
transition to multifamily

  • Reading about economies of scale
  • Decision to get more involved

Raj’s first
multifamily investment

  • 15-unit in up-and-coming neighborhood nearby
  • Unexpected expenses, fired property manager

How Raj got
into passive investing in multifamily

  • Continuing education in syndications
  • LP for 151-unit in Georgia

Why Raj decided
to quit his job and do real estate full-time

  • Control own destiny, control own time
  • Bring passion for data analytics to real estate

What Raj is
working on now

  • Partner with syndicator as capital raiser
  • ‘Full-time evangelist for multifamily’

The tech
tools for real estate Raj is exploring

  • Reonomy for apartment ownership data
  • Enodo for underwriting multifamily deals
  • Building market analysis tools with Bay Area company

How Raj
educates new real estate investors

  • Build trust through meetups and content
  • Walk through recent transaction
  • Serve as concierge through first deal

What Raj
looks for in a multifamily operator

  • Trusted partners from mastermind network
  • Responsive to communication

Connect with Raj

Smart Capital Management

Email raj@smartcapitalmgmt.com

Data Driven Multifamily Investing Facebook Group

Resources

What’s the Best Investment: The Stock Market or Real Estate?

Syndicated Deal Analyzer

Meetup

Reonomy

Enodo

Nighthawk Equity

Podcast Show Notes

Review the Podcast on iTunes

Michael’s Website

Michael on Facebook

Michael on Instagram

Apartment Investor Network Facebook Group

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

Sep 04 2019

30mins

Play

iTunes Ratings

388 Ratings
Average Ratings
338
25
11
5
9

Educational and insightful

By jamespatrickjp - Aug 07 2018
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Great podcast with high quality guests and a good mix of education and inspiration

Great content and delivery!

By timhubbard - Jul 31 2018
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Thanks Michael for putting out such great content and delivering it so well!