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Cash Flow Guys Podcast

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Business
Education
Investing
How To
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The CashFlowGuys Podcast teaches busy people how to use what they have, to get what they need in order to accomplish what they want. Using tips and techniques from industry leaders in Real Estate Investing and Financial Services, the CashFlowGuys are on a mission to educate the public on all things involving real estate and financial services. Your host, Tyler Sheff interviews experts from around the globe to help people improve their financial intelligence.

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The CashFlowGuys Podcast teaches busy people how to use what they have, to get what they need in order to accomplish what they want. Using tips and techniques from industry leaders in Real Estate Investing and Financial Services, the CashFlowGuys are on a mission to educate the public on all things involving real estate and financial services. Your host, Tyler Sheff interviews experts from around the globe to help people improve their financial intelligence.

iTunes Ratings

91 Ratings
Average Ratings
85
4
1
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Thank you Tyler

By Jportillo93 - Jun 12 2018
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Thanks for all the great content! So useful, I always make sure to listen on Fridays!!

Great show and thank you

By The Note Guy - Feb 09 2018
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I really enjoy the show. Great content and nuggets. It was also great to meet you at Podfest.

iTunes Ratings

91 Ratings
Average Ratings
85
4
1
1
0

Thank you Tyler

By Jportillo93 - Jun 12 2018
Read more
Thanks for all the great content! So useful, I always make sure to listen on Fridays!!

Great show and thank you

By The Note Guy - Feb 09 2018
Read more
I really enjoy the show. Great content and nuggets. It was also great to meet you at Podfest.

Listen to:

Cover image of Cash Flow Guys Podcast

Cash Flow Guys Podcast

Updated 2 days ago

Read more

The CashFlowGuys Podcast teaches busy people how to use what they have, to get what they need in order to accomplish what they want. Using tips and techniques from industry leaders in Real Estate Investing and Financial Services, the CashFlowGuys are on a mission to educate the public on all things involving real estate and financial services. Your host, Tyler Sheff interviews experts from around the globe to help people improve their financial intelligence.

202 - The Art of The Deal

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In this episode, I discuss the most recent deal we put together for one of our clients.  The seller was a tired landlord who did not like the small multi-family sector, in this case, an 8 unit apartment building.  We took on the task of selling this property for her only a year after she bought it.

In any deal in which I am involved, I focus my energy on why the Seller is selling and more importantly, what they intend on doing with the money.  In this case, the Seller’s plans were to secure a more passive investment arrangement with the proceeds of the sale.  She wanted a return that was secure and would outpace inflation.

What I heard right there was music to my ears, listen-in to hear how we broke this deal down and created a true win/win for the Buyer AND Seller.

Oct 25 2019

26mins

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078 Back to Basics—The Cashflow Foundations

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To start with, we’d like to talk to you about a course written by our good friend and mentor Larry Harbolt. This is one of his courses he kept in the archives and brought out just for us to present to our listeners. The course is completely online and is filled with audio lessons, cheat sheets, and negotiating scripts, just for you.

Take a look at the Cashflow Blueprint course here: http://www.cashflowguys.com/myfirstdeal

The course begins with Property and Deal Analysis, with emphasis on the 4 Pillars of Real Estate. These pillars are your exit strategies, and each one should be utilized not as your primary business identity, but as a technique and tool when approaching every deal.

In today’s world drooling for instant-gratification, slick gurus have convinced the population that fix ‘n flips and wholesaling are a primary business model. They’re not; they’re meant to be used so almost every deal you come across can be a money-maker. If you try to flip a deal that’s really meant to be buy-and-hold, you’re going to lose money and earn plenty of frustration.

The primary point today’s episode is that you need a plan. You have to understand exactly what your plan is with every single deal. Most importantly, you need to build the community and find the financial friends so no matter what deal comes your way, you know exactly how and who to move forward to put money in your pocket.

If you need help rehabilitating your credit, don’t forget to visit http://www.cashflowguys.com/creditrepair. My credit repair team will help you take the steps you need to get your credit back on track.

Jun 02 2017

31mins

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135 - How To Add An Extra Zero with Scott Carson of We Close Notes

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In this episode of the Cash Flow Guys Podcast, I get the distinct honor of interviewing Scott Carson of the We Close Notes podcast. Over the years I have recorded hundreds of episodes but this one was certainly the most fun. Scott brings a unique energy and personality to an otherwise boring (yet profitable) field of note investing.

Jul 13 2018

42mins

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094 Should I Buy Real Estate Now or Wait?

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In this episode, I will show you EXACTLY how amazing real estate investing is for your life and your pocketbook! In December of 2014, Jill and Tyler Sheff purchased a fourplex using a VA loan. Not only did we NOT have to put money down, but we WALKED AWAY from the negotiations with money in our pockets thanks to our fantastic team of lenders and title companies. If you already own property, go out and BUY ONE MORE. We're going to use our equity to purchase MORE cash-flowing properties, rinse, and repeat. It is genuinely not rocket science folks, and it's not a pipe dream only for the elite!

Sep 22 2017

29mins

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141 - Are You Ready For What Is Coming?

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I am hearing lots of chatter about a CRASH! For some means the real estate market, for others the stock market. Frankly, I see both coming to into a period of significant adjustment. WHEN (not if) these things happen, how will you react? Are you the type of person that will lead or falter? I for one, intend to lead (big shocker huh). Our reaction to market fluctuations is what determines our individual financial and emotional outcome. I hear lots of people talking about how they "missed" the last "down" market. These people generally continue on to complain about how they can’t find a deal because the market is just "too hot". While I agree that the number of properties that are "for sale" have diminished, that does not mean that all opportunity is lost.

Aug 24 2018

29mins

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090 Life in The Rat Race and Tips To Escape It

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The band “The Eagles” wrote and published the song “Life In The Fast Lane” many years ago.  It was a popular song that headed to the top of the charts.  If talked about living large, running at full speed and so on.

In today’s real estate world, many investors seem to be running in the fast lane which is concerning to say the least.

Why is it that broke people turn to real estate as the solution?  What is the lure to real estate that attracts so many people with dreams of riches and fame?

We Americans tend to idolize those who are perceived to be rich and successful. 

Those who are “stuck in the rat race” view those that are not as “different”, mysterious and worthy of attention.

What is the rat race?  Robert Kiyosaki wrote the book “Rich Dad Poor Dad” which is what first educated me about the rat race.  It kinda goes like this..get up, go to work, come home, pay bills, go to sleep, get up and go to work again.

Many Americans are stuck in this rut with no hope of escaping.  Many believe that achieving riches in real estate is easy...which I disagree with completely.  Simple? Yes, that is a better word, because it certainly is not complicated.

Hard work is something that many folks these days tend to shy away from.  Confrontation (or that which is perceived as confrontational) is another thing that spooks many people.

Here’s the deal...you can lose your job tomorrow.  You can also lose your big business or government funded pension tomorrow.  Getting out of the rat race is all about building up your passive income to an amount that exceeds your expenses.

Let’s discuss how we can accomplish this:

First off, “get your money right” as Grant Cardone says.  This means not blowing your money on silly things that do not put money in your pocket.  Eating out is a huge expense incurred by Americans that is costing us millions.

Pay off credit cards sooner than later.  Begin with the cards that have the smallest balance, this helps gain that feeling of accomplishment.

Avoid the end caps at your local store.  These are specifically designed to entice you to buy, don’t get suckered into that (especially at Lowes and Home Depot!)

Before you get started investing, you have to first establish financial prudence.  We have to know what is going out every month, where does our money go if you will.  Too many “investors” are financial trainwrecks and cannot figure out why real estate investing has not solved all of their financial problems yet.

If we cannot control our finances, real estate investing will likely make your financial situation worse before it gets better.

Once we know what our monthly expenses are, we then know where we need to be in order to escape the rat race.  Remember, the expenses only provide a “break even” point which does not allow for future growth or expansion.  It generally does not include retirement contributions, college savings or anything else outside of basic survival.

The lower we can get our expenses the easier it will be to escape the rat race.  Cut out that which you don’t absolutely need until a later time when it will be affordable, trust me it will be worth it.  After all, for a couple years I had to stop buying electronics and firearms.  I am so glad those dark days are over.

Many people find it rather easy to escape the rat race, only to be unknowingly back in the rat race quickly after escaping it the first time.  This happened to me at the beginning of our “second act” of real estate investing.  We acquired a bunch of properties (26 in the first year) and because I was so focused on quantity of properties I made a few dumb financial decisions along the way and had to streamline how I do things.  I fell into that “rockstar” lifestyle however I was able to jump right back out (after a swift kick in the ass from my wife).

Aug 25 2017

27mins

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172 - How To Buy Houses The Simple Way with Amanda Young and Tyler Sheff

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In this two-part episode I sit down face to face in the studio with a local investor Amanda Young.  Amanda has been investing for many years now, beginning as a buy and hold landlord and later including house flipping to her resume.  Amanda believes in getting face to face with the sellers while taking the time out to build rapport with them before trying to buy their house.  In this episode, Amanda breaks down the steps she takes in getting to know the sellers and how she learns about whatever problem they may have that can be solved by the sale of their home.

When we focus more on the seller’s problem than we do on the property we build strong relationships with the seller.  Anyone can throw an “all cash” offer at a seller and hope for the best, but those who take time to invest in the seller will yield far greater results.  Amanda outlines how she has been in multiple offer settings and won the bidding as the LOWEST bidder!

Sellers that “like” us are far more likely to do business with us.  People generally avoid doing business with people they do not like.  To be liked we need to be good listeners which means applying that 70/30 rule.  This means that 70% of the time we should be listening, and 30% of the time it’s ok to talk; BUT during that time we should be asking questions.  The more we learn about the seller’s situation, the more prepared we are to help them and heal their pain.  Offers that solve problems get accepted, its really that simple.

Mar 29 2019

37mins

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035 Cash Cow Note Investing Basics with Paige Panzarello

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Working smarter not harder is the focus of this episode as Paige Panzarello of CashFlowChick.com and Tyler Sheff of CashFlowGuys.com discuss putting our money to work for us, instead of us working for it.  Paige and Tyler have spent the last year or so building a team to acquire non performing notes and service them effectively for our investors.

We take this opportunity to discuss a general overview of what exactly “notes” are, the ups and downs of the note investing business and how we can profit from “paper”.

We buy notes at a significant discount….these are notes that are “non”performing” which means the borrower has stopped paying.  The banks desire to sell these non paying notes at a discount to “clear their books”.  Often we find that the banks have not even bothered to reach out to the borrower to find out why they are not paying.

When we buy these notes, our team is able to reach out to the homeowners and often make arrangements to lower their loan costs or terms to allow them to start paying again.  More often than not we can make arrangements with them that allow them to get their life on track and often remain in their home.

The #1 most important element of investing in notes is the Due Diligence element.  We have invested a great amount of time and focus on building the right combination of people needed to be sure our due diligence is effective and protects us from unnecessary loss.  When working with investors, it is critical to be sure that we are extremely thorough in our research to protect our investor’s capital investment and future profits.

In future episodes we will be digging deeper into the note investing arena and providing further insight into this mysterious yet highly profitable venture.

Are you stuck as an investor and not sure what to invest in or what a good deal is?  Are you overwhelmed at the educational options available to you in the marketplace?  Would it help you to spend 30 minutes on the phone with Tyler in order for him to help you get “un-stuck”  if so head on over to CashFlowGuys.com/AskTyler to book a free strategy session with Tyler to get on track today.

Are you in the Tampa Bay Area?  If so go to CashFlowGuys.com/events to register for our next free event.

Aug 05 2016

31mins

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025 How To Make $5,000 in 90 Days or Less

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“Guru’s” will tell you that anyone can use their system and get rich in 30-90 days by “flipping” real estate.  They continue to bleed you dry with secret sauce software systems that promise to “do all the work for you”.  RUBBISH!!!

Making money in real estate takes work….LOTS of work.  There is no software program that does it all, there is no secret script that will lure people into giving you their home.

Finding your way to success in real estate takes practice.  It takes patience, and it takes being comfortable with being uncomfortable.  The best (and fastest way) to learn and succeed is to practice, fail, practice, fail and practice some more.

In this episode, Tyler uncovers many of the methods he has used to raise quick capital that was later used to invest in order to make MORE money.

Retail Arbitrage is “whole-tailing” in its purest form.  Buying something at a significant discount, shining it up a little and reselling it for a profit is what the game is all about.  Next, Tyler unveils his methods of “flipping” everyday items on eBay and Craigslist for big profits.

Learning how to discover opportunity takes time and research.  Look on craigslist for items that you know about….for example you are a boater….focus on boating items.  Find things that people do not want, and negotiate the price down as low as possible.  By now; you have done your research to know what the item will sell for once fixed up.  Once you have the item, clean it up, take great photos and write a great description.  You can then resell these items on Craigslist, eBay, Amazon or the like for significant returns.

Sounds like lots of work right?  Real Estate is even more work, however the rewards are much greater.

As a real estate investor, you have to learn how to source opportunity.  A savvy investor is also a great negotiator and an even better salesman!

Building relationships with sellers and buyers is a critical part of the process.  The methods in this episode allow you to build these skills to prepare you for a career in real estate investing.

As always, to interact with Tyler and his team on Facebook, go to www.CashFlowGuys.com/group.  If you would like to book a 30 minute consultation with Tyler to discuss how to get started today go to www.CashFlowGuys.com/asktyler

May 27 2016

29mins

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109 The Ultimate Long-Distance Investing Guide with Billy Keels

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Today I am beyond excited to have my good friend and mentor, Billy Keels, joining me on this week’s episode. Billy is an American citizen who lives in Barcelona, Spain and INVESTS in the United States. Even though he already has a successful career in the technology industry, Billy was looking for ways to replace his current income with passive income to spend more time with his wife and two sons. It was Billy’s boss who initially showed Billy that long distance investing was viable.

Jan 05 2018

41mins

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059 Tyler Calls A FSBO | Negotiations Part One

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In this week’s episode, Tyler calls on a For Sale By Owner Duplex to learn more about the situation to determine if creative acquisition was possible.

Last week, Tyler heard of this opportunity from a member of the mentoring group he belongs to when a member stated the seller refused to consider any creative alternatives.  In the Craigslist ad, the seller stated a cash sale was the only option.  The Seller also stated a 7% Cap Rate which seems inaccurate based on the listed purchase price of $245,000 and income of $1,690 a month.

Listen in as you hear Tyler set the stage for a fact finding conversation where he uses positioning techniques to help the seller feel “in charge” or in control of the conversation.  Many of the tactics Tyler uses are found in the famous book “How to Win Friends and Influence People” by Dale Carnegie.

When dealing with a seller or Real Estate agent, you will often find them to be close minded when it comes to creative acquisition. You see, people fear what they don’t understand, and all too often they make assumptions on how things are, or will be, inaccurately.

Tyler being a student of Real Estate Legend Larry Harbolt, and others, has learned how to navigate these sometimes treacherous waters ending up with a great conversation and a little to no money down deal in many cases.  If you want to learn more about the bootcamp Tyler attends twice a year, go to http://cashflowguys.com/NoBanks

As a student of Larry Harbolt, you only pay once, and then get to repeat the course twice a year at no additional cost.  This is something that Tyler does to keep sharp on his negotiating skills which has allowed him to build a large portfolio of rental properties.

To gain more negotiation skills examples, consider joining our free Facebook group at http://cashflowguys.com/group

Jan 20 2017

36mins

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038 How to Buy Real Estate Using Seller Financing and Listener Questions with Tyler Sheff

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In this episode Tyler Sheff answers several questions from the CashFlowGuys.com Podcast audience.  

We begin with seller financing where a listener asks “How can I convince the seller to accept owner financing”.  Tyler explains several ways that owner financing aka Seller Financing or Purchase Money Mortgages can be explained to a seller to where it makes sense to them.  

An old saying says “A man convinced against his will is of the same opinion still”  This means that you cannot force your opinions and ideas on others, instead you have to explain it in a way that brings the other person to a point to where your idea becomes their idea.  By taking the time to explain the features and benefits of your idea to them, they can begin to discover what is “in it for them”

There are numerous benefits to seller financing that homeowners need to be made aware of.  This is one of the most used strategies that Tyler teaches his coaching students.  When structured properly, it can create a true win / win relationship.  Tyler goes on to provide some real world examples that can be used to assist you in obtaining terms on your next real estate purchase.

Tax advantages are a popular benefit of seller financing.  By explaining the basics of these advantages, you may be able to pique the interest of the seller.  Publication 537 if the IRS code discusses the tax advantages if installment sale agreements (seller financing).  An investor should become very familiar with this publication and Section 121 of IRS code.

By learning to negotiate terms as a wholesaler or rehabber you will able to acquire and flip far more property.  When you make the property you are offering “easier to buy” far more buyers are attracted.  What happens when you open your property up to a larger audience?  The price goes up...WAY UP.

Take the time to truly discover the needs of the seller.  This one point is the most often overlooked thing that Realtors miss.  Ask a listing agent “why are they selling”, most will not be able to tell you why the seller is really selling.  If you listen to the answers to the questions you ask, often you will learn, how much money the seller really needs.  Sometimes….they don’t really need money at all (yes that is true).

Do you feel that mastering the mindset for seller financing is important for you?  Do you feel you could buy much more real estate if you had the training on how to master this mindset?  To talk to Tyler about becoming a Cash Flow Guys Coaching Client, book some time on his schedule at CashFlowGuys.com/coach

To read discussions on our private Facebook group on this subject or watch Tyler’s videos on it go to CashFlowGuys.com/Group to join our free Facebook Group.

Aug 26 2016

29mins

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169 - What Do I Need To Get Started as a Real Estate Investor

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Getting started is the most important step.  You can plan all you want but until you start, planning is futile because everyone finds that the plan needs constant tweaking.

Begin with a budget: 

There is no such thing as a free lunch.  To build any business a financial investment is required at some point.

Below is a list of some of the things to be considered when writing out a budget.  This is good practice for once you have an asset to manage.

Typical Expenses:

Direct Mail - how many pieces? letter, postcards, cards, etc.  There are many schools of thought here, but remember that as the saying goes “Everything works, nothing doesn't”.  To me this means that we must take action on getting our word out there so people know what we are looking for.  We need to use our marketing to educate the marketplace on our needs in regard to money, deals, team etc.

Business Cards-  People spend a ton of time getting caught up on business card designs.  My best advice is to keep it simple and remember that the purpose of a business card is to provide someone your contact details.  Don’t try to make it something it isn’t (a billboard).  You should use your meeting with the person you are providing the card memorable enough to make a billboard unnecessary.

Bandit Signs / Other Signage - depending on your marketing strategy, these may or may not be necessary.  Regardless, prepare for many of them to get stolen or confiscated by code enforcement, therefore budget for replacements.

Facebook / Instagram / YouTube - Google Adwords - A good ad agency should be able to help you determine the budget for ad spend.  Take their advice, this money isn’t going to them, its going to Facebook.

Entity Creation (only if deemed necessary)

DIY or Lawyer?  I vote to use a Lawyer, BUT not until you actually NEED an entity.  Don’t get sucked into elaborate asset protection setups when you don’t have any assets to protect.  It would be a shame to set up a structure only to have to change it later.

Equipment / Supplies budget (think minimalistic)

Laptop, cell phone with wide angle camera lens, don’t go crazy here and keep it simple.

Virtual Tools:

It’s easy to rack up a small fortune in outbound recurring payments with all the services available to us these days.  Carefully examine the necessity and value of a specific service before shelling out your hard earned money.  Some great tools are:

Rentometer.com/Pro

RealEstateTools.com

CallRail.com

Investor Fuse

RealtyJuggler.com

Mojo Dialer

Mailchimp

Constant Contact

Drip

Active Campaign

Clickfunnels

If you setup your spending ahead of the actual spending you will be better able to focus on building your business and not having to worry about money as much.  Taking the time to write out a solid budget and then sticking to it is most likely the most important thing you can commit to as a new investor.

Lastly, DO NOT build your business with a credit card!

Mar 08 2019

22mins

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139 - How to Get Leads for Real Estate Deals - Part 2

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Last week we left off talking about ways to generate leads for your real estate business and this week will be no different. As the market begins to shift unprepared people will have a tougher time sourcing opportunity in the marketplace. Cash buyers will quickly dwindle as the herd mentality begins to take over. An investor who is positioned to survive a market correction will be able to see the opportunity before others do and capitalize it at the time of discovery for that to happen lead sourcing needs to be efficient and action taken must be swift.

Aug 10 2018

21mins

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126 - Where You Should Be Looking To Buy

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Where are all the deals?

I hear this a bunch, and my usual reply is “What specifically have you done to find opportunity?”  After saying that, I hear silence, the reality is the answer is that they have not done a thing.

I also hear about investors buying properties simply because “they could” or because “the seller allowed me to buy” which blows my mind.

When we focus only on “what’s for sale” we are seeing the same opportunity as everyone else.  In what some refer to as a seller’s market, this creates a frenzy as the scarcity mindset kicks in as does F.O.M.O (which stands for Fear of Missing Out).  Any time there is buying pressure, people simply overspend because of the fear of missing out.  Overspending often leads to a foreclosure.

Instead of focusing on what’s for sale, perhaps we instead focus on finding problems.  When we shift our focus to sellers with problems (or properties with problems) we then have seller motivation on our side.

What are problems? Problems are ANY situation that motivates a seller to sell their property.  One of the best ways I learned to discover problems is to say less and listen more.  By closing my mouth and opening my ears I discovered that problems were all around me once I learned to recognize them.

Ugly Properties - Driving for dollars is a time tested method that does produce results over time.  Walking for dollars is a much more effective solution because you can better see the details of what is happening on your area.  By walking instead of driving, you can also better notice changes that would otherwise be missed while driving down the street looking ahead.

Lawyers are a great source of leads, take the time to network with several of them, specifically those that focus in elder law, probate, family law, etc.  More often than not they have clients that need to liquidate their real estate in connection with some sort of legal event such as a divorce, lawsuit or probate.

Public records mining is also a great way (especially for those who are shy) to “dig for details” and uncover case history and recent filings for the legal proceedings mentioned above.  Be sure to add to that those who are behind on property taxes.  Reach out to people who are behind on property tax to buy the house BEFORE a tax certificate or tax deed sale happens.  For many this might be their last chance at profiting from the sale of their property.

The bottom line is that as investors, we need to spend less time buying off the shelf and more time digging for the gold, its out there! Trust me on that.

May 04 2018

28mins

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075 Back To Basics - Where To Get Funding

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CashFlowGuys.com/Donate

On this episode of the Cash Flow Guys Podcast Tyler discusses many of the common misconceptions that new (and some experienced) investors get caught up in..

Easy Loan Program Scam:

Predatory lenders and terms (not “hard money”)

Application fees or upfront fees are trash

Takeaway: Lenders should be competing for your business, they are not doing you a favor..they are making an investment.

Getting Qualified:

Go see a lender (Mortgage Broker) and get qualified, if they say no get into a credit repair arrangement.

Understand the programs available, Fannie Mae, USDA, VA if applicable...talk to small local banks that make local underwriting decisions.

Educate everyone you know about what you are doing, many will want to come along for the ride..too scared to go at it alone…

Buy, Fix, Occupy, Repeat:

FHA allows a 3.5% down payment, seller can pay up to 6% of the purchase price towards closing costs at current.

Save every nickel, buy a place for as little as $3500 out of pocket and live there for one year.  When you move out it cashflows $200 per door or $400 for the property.  Save every penny of that for one year = $4800, now go buy another.

In 10 years you will have 20 doors (10 properties) and $48,000 or more passive income taxed at the LOWEST rate allowed by law (if at all).

May 12 2017

31mins

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065 Ten Biggest Tax Mistakes with Craig Cody CPA

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Today we meet CPA Craig Cody of Craig Cody and Company from Manhasset, NY.  Craig is a retired NYPD Police Officer turned tax professional.  Craig is a certified tax coach which means that he takes the time to educate himself to a higher level and surrounds himself with other taxation experts to discuss tax savings strategies.

As we continue the discussion, Craig talks about tax planning and the importance of taking the time to build out a plan that will help you save money all year long and for many years down the road.  There is a big difference between tax preparation and tax planning.  For example, good tax planning offers a 400-500% return on investment for many taxpayers.

In addition to being a tax planning expert, Craig is the author of “Secrets of a Tax Free Life” and also his book “10 Biggest Tax Mistakes That Cost Business Owners Thousands”  To obtain a FREE COPY of the 10 mistakes book, visit http://www.craigcodyandcompany.com/tyler/ to register and receive a copy in the mail.

Mar 03 2017

29mins

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203 - Business Credit - It's Not Fibbing Its FRAUD

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Business Funding...

Business Credit...

Business Lines of Credit...

Whatever you choose to call it, It’s nothing more than a piece of cheese on a mousetrap!

It will keep you in financial prison AND can land you in Real Prison.  In this episode, I discuss this very slippery slope and what happened to David Gaylord of Rochester, NY. (Spoiler alert: It’s not a pretty picture).

As the economy continues to get life breathed into it by the smoke and mirrors of the Fed, one thing for certain is that irrational exuberance will lead many Americans into making financial commitments that they simply cannot afford.

In this episode, I dive into America’s latest dumb thing to do in regard to borrowing money and abuse of credit.  Many claim they are doing this to “Build their business” while in reality, if they need a credit card for that they have no business to begin with.

Nov 01 2019

29mins

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069 Raising Private Capital For Your Deals Part 1

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Today we are going to talk about a topic near and dear to my heart. It's the topic that allows me to buy cash flowing real estate with my friends, raising private capital. Now, this is a series. This is going to be a multi part series that I'm going to do over a couple different episodes. Enjoy!

Mar 31 2017

31mins

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127 - Back to Basics - Where to Begin

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What is the first step in real estate investing? You have to determine your strategy and your investor identity. In order to do this, I highly recommend getting a basic education from Robert Kiyosaki’s books that will really guide you through figuring out your investor identity. This is where you need to start so you can learn a lot and decide what direction you are going to go.

May 11 2018

24mins

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208 - The Insurance Claim Bible for Real Estate Investors

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This week I will keep the show notes short because the episode was long but TOTALLY worth it!  In this episode, I speak with Andy Gurczak of All-City Adjusting which is a Public Adjuster firm I have worked with in the past regarding insurance claims on my apartment buildings and investment houses.

Andy brings TRUCKLOADS of value (skip them nuggets, we’re talking TONS) to this episode in more ways than I could possibly mention.  The info in this episode applies to anyone who pays for insurance on anything at all.

In true value loaded fashion, Andy has a free eBook for Cash Flow Guys Listeners that can be had on his website AllCityAdjusting.com

Dec 06 2019

51mins

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207 - The Investor's #1 Money Waster

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Everyone wants to get deals and raise money, however, I am of the belief that few are willing to innovate in order to accomplish that.  By innovate I mean to take specific steps to stand out from the rest in your market.  We are surrounded by marketing messages everywhere we look, as the saying goes...Innovate or Die!

In this episode, we will discuss the real estate investor’s biggest waste of money.

“We Buy Houses” is dead..we ruined it by overusing it matching with a sketchy reputation of those who do use it.  To many sellers it says “I am about to get lowballed” or maybe those “We Buy Houses People Are Sketchy”, either way, its no longer a worthwhile message to put out to the universe.

Building relationships is the key to get to the closing table and beyond.  To effectively build relationships, know, like and trust are the ingredients.  To build relationships we have to overcome any opportunity for a negative assessment of what we are offering and the simplest way to accomplish that is to avoid those situations in the first place by modifying your marketing message.

Untargeted marketing is a colossal waste of money and time.. In fact..it’s the #1 money waster for real estate investors.

If you use the same copy like everyone else, the same subject lines and titles, the same descriptions of what you offer, how can you expect to be any more successful than the next investor?

When I was learning how to build funnels and market myself effectively I invested very little time in my titles or subject lines and most of my time in the body of what I was writing.

I couldn’t figure out why my copy did not covert well.

I had no title, no subject line, nothing to grab the reader’s attention.

What if, instead of “We Buy Houses” you used “How To Find A Good Buyer Fast In As Little As One Week” or “How To Find A Qualified Home Buyer Today”

Then give them a place to go to get that information in exchange for their contact information.

In this episode, I give specific examples of better sales copy you can use to convert motivated seller leads and find financial friends to raise private money from.  Much of what I have learned came from reading my new favorite book (link below), you can get a free copy if you pay a couple of bucks for shipping by using my affiliate link at CashFlowGuys.com/CopySecrets

Nov 29 2019

18mins

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206 - How Do I Get Deal Review Help?

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How do I know if you have a good deal or not?  This is one of the most popular questions I had when I was getting started as a real estate investor.  Looking back at the deals I have done (both good and bad); I now realize that the answer to the original question was staring me in the face.

This week I discuss how I came to this realization and how I have used this realization to become a better investor.  Along the way, I added to my arsenal of tools by creating a deal review form in addition to my #1 method of knowing if a deal was worthwhile or not.

I added this special bonus to my free Mailbox Money Deal Analyzer course that you can grab by visiting http://cashflowguys.com/mailboxmoney

Remember, when it comes to getting great deals, we must begin with a motivated seller and a problem we can solve, otherwise we are just stabbing in the dark.  When we invest time, resources and capital into making deals to the unmotivated, we are guaranteeing ourselves future disappointment.

Nov 22 2019

12mins

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205 - Why Didn't You Put An Offer In On It?

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Shoulda, Coulda, Woulda is something I catch myself saying often.  I try not to live in the past, but I find myself using it to motivate me to have a better future.

In 1992 could have bought a house on the water in Madeira Beach, FL, needed a dock, needed yard work, but the inside was ok (liveable). I was 22 years old and fresh out of the Army after 5 years of service

Although as a Veteran I was entitled to a VA zero down VA home loan, I did not qualify for one due to my lousy credit at the time.  I passed on the opportunity all together because I figured the bank would simply say no.

It never occurred to me to simply ask the seller if they would take payments for their equity..even if it had occurred to me I likely would have dismissed that notion by assuming the seller wouldn’t do that for me.

I had the opportunity to buy that house for $75,000 (asking price) which would have meant a mortgage payment somewhere around $550 a month after factoring in taxes and insurance.

I later learned that someone bought that home for $65,000 with no money down, 20 year terms at 5% interest which for me would have meant a payment about $100 less than I had figured originally.

I passed on that because I thought it was too much hassle and responsibility to bother with.  In this episode, I dive into that notion and discuss what I learned from that mental lapse and also what I lost from simply not taking action.

That first house would have set me up nicely, even if it had not been such a great deal right out of the gate.

It took me many years to discover that what was really holding me back was fear of the responsibility of success.

Nov 15 2019

18mins

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204 - Who Are You Serving? How To Discover Your Investor Identity

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When I mention investor identity, some folks feel that investing any brain power on this topic is a colossal waste of time.  Many people try very hard to focus on everything that is for sale in hopes of not missing out on any possible opportunity that they may trip over.

Even in a slow market there are usually plenty of things for sale to look at especially when you cross classes and property types.  In today’s distracted world this can often lead to overwhelm or information overload that almost always ends in the buyer shutting down in a state of confusion.  The next thing we usually hear is “there just isn’t any deals” which is rarely the case.

In my Mailbox Money Program I teach to get this part decided first, before you do anything else.  Once you take the time to realize that the customer you are most prepared to serve is someone like you, things take a turn for the better.  You might reflect back on a time that you were a bit scattered, and by doing so you will quickly see how time could be wasted and efforts misdirected.

There are three types of Investor Identities that tie to asset classes.  In the multi-family space they assign letters to them “A, B, C and D” (“A” being the “best”), yet the same type of description can apply to all asset classes.

In this episode I explain the characteristics of each of them in detail to help you decide which one you fall in.  Once you decide where you land, use that decision to best suit the needs of people more like you.  By applying this logic you will save yourself a lot of time and aggravation by being able to quickly and efficiently zero in on helping those you best identify with.

Nov 08 2019

26mins

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203 - Business Credit - It's Not Fibbing Its FRAUD

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Business Funding...

Business Credit...

Business Lines of Credit...

Whatever you choose to call it, It’s nothing more than a piece of cheese on a mousetrap!

It will keep you in financial prison AND can land you in Real Prison.  In this episode, I discuss this very slippery slope and what happened to David Gaylord of Rochester, NY. (Spoiler alert: It’s not a pretty picture).

As the economy continues to get life breathed into it by the smoke and mirrors of the Fed, one thing for certain is that irrational exuberance will lead many Americans into making financial commitments that they simply cannot afford.

In this episode, I dive into America’s latest dumb thing to do in regard to borrowing money and abuse of credit.  Many claim they are doing this to “Build their business” while in reality, if they need a credit card for that they have no business to begin with.

Nov 01 2019

29mins

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202 - The Art of The Deal

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In this episode, I discuss the most recent deal we put together for one of our clients.  The seller was a tired landlord who did not like the small multi-family sector, in this case, an 8 unit apartment building.  We took on the task of selling this property for her only a year after she bought it.

In any deal in which I am involved, I focus my energy on why the Seller is selling and more importantly, what they intend on doing with the money.  In this case, the Seller’s plans were to secure a more passive investment arrangement with the proceeds of the sale.  She wanted a return that was secure and would outpace inflation.

What I heard right there was music to my ears, listen-in to hear how we broke this deal down and created a true win/win for the Buyer AND Seller.

Oct 25 2019

26mins

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201 - Who or What Controls You?

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Working a job is a fact of life for most Americans, yet I wonder what percentage of those workers understand the cost of them working?  You might be thinking I made a typo there, how could a job cost you money?

This topic came up this past week when talking with friends.  One of my friends just celebrated a 15-year anniversary with the same employer. What she received as a “gift” for that 15 years of hard work was the ability to order a present (read trinket) from a catalog.  This episode isn’t about what her employer should or shouldn’t do to recognize her dedication in service, instead of its to help you see the lost opportunity cost that you suffer each and every day.

How much do you really need to earn to leave your w-2 job?  Most people I ask this question to tell me the same answer…$10,000 a month will do the trick.  Will it though?  Could you escape the rat race for less?  The majority of American workers absolutely can!

The average W2 American works from January till May every year just to pay taxes, mindblowing huh?  I bet that if you look at last year’s tax return you will see similar figures on yours.  This means that you really don’t need to fully “replace” your paycheck, you just need to build up your passive income to meet your true net income to escape the rate race.  For most Americans, that means you can escape the rat race by earning somewhere between 50% to 70% of your current income.  How do you accomplish this?  Well, how about listening to this week’s episode to find out :)

Oct 18 2019

25mins

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200 - No Matter What

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200 episodes ago I was sitting in a dingy office trying to figure out what this podcast would become.  Little did I know it would become a massive success and grow to become one of the top-rated podcasts in the real estate space.

It would be an extreme understatement to simply say that the show has opened a couple of doors for me.  Instead, it has propelled my business beyond my wildest dreams.

200 episodes ago on December 11th, 2015 was the day I decided to help other people learn how to escape the rat race.  Since then I have had the pleasure of talking to hundreds of you over the phone and at events around the country.

Many people have asked me what my big secret to success is…

Here is what I realized today reflecting back on the last 200 episodes

It begins with No Matter What, listen in to hear the story of what “No Matter What” means to me.

Oct 11 2019

28mins

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199 - Quick & Easy No Money Down Deal Secrets - Part 2

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In this episode, I announce the release of my new book “The Quick and Easy No Money Down Deal Secrets”.  I wrote this book to help investors by having a quick reading resource designed to help them negotiate better deals and more deals without having to invest their own cash into the deal.

In this book, some of the ideas I assure you have never before been put into print by any Real Estate author.  The fastest way to grab a FREE copy is to visit NoMoneyDownBook.com today and download a copy.  You also have an opportunity to grab the audio version as well as a once in a lifetime amazing offer from me which is guaranteed to help you supercharge your investment property portfolio (if you apply what I teach).

Oct 04 2019

27mins

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198 - The #1 Reason You Will Fail

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In this episode, I cover the number one reason you will fail as a real estate investor.  Its the one thing that the majority of people trying to make a dollar as an investor overlook.

I’ll give you a hint.. Today I was reading a great book written by legendary copywriter Ray Edwards.  The name of the book is “How To Write Copy That Sells”.

In the book he shares a quote from an unknown author that read:

“He who has a thing to sell... and goes and whispers in a well is not so apt to get the dollars.. as he who climbs a tree and hollers - Author Unknown

Read it twice, or maybe even three times.  The question you have to ask yourself is what’s stopping you from overcoming the number one reason you will fail?

In this episode, I provide not only the answer to this burning question but the solution to the problem.

Sep 27 2019

27mins

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197 - How To Profit From Rent Control

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Sep 20 2019

23mins

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196 - How To Create Deals on Overpriced Properties

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This week I discuss a few things to help you shift your mindset towards getting more deals done. 

First, understand that everything is overpriced and always will be.  What someone “wants” when selling something simply does not matter, what matters is the buyer's perception of the value.

PLEASE understand that there is no such thing as an advertised “good deal”, now that we have that out of the way, perhaps you can stop “looking for a deal” since we are clear that you will never “find” a deal.  Deals are created by buyers and sellers sitting down to have a great conversation.

Stop searching “what’s for sale” aka the “low hanging fruit” expecting a deal to be sitting there ready for the taking.  Instead, focus on finding problems for which your offers can then provide a solution.  If you are trying to get a deal on a property or situation where there is no problem I have two words for you.. Good Luck

Always be sure to first determine the Seller’s motivation.  Unmotivated sellers should not be entertained by spending time with us.  An unmotivated seller is usually looking for a retail buyer to pay top dollar and is rarely open to any sort of creative acquisition.

Listen in to hear some of the best questions to ask a seller during the fact-finding and negotiations phase.

Sep 13 2019

34mins

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195 - How Do I Protect My Deal?

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A popular line of questioning I get from people who are just getting started involves being cheated out of a deal by unscrupulous people.  In this case, the question was from someone getting stared as a wholesaler who had concerns about a potential buyer cutting them out of a deal to save from having to pay them an assignment fee.

In the episode, I explain important steps you should follow which virtually eliminate any chance of this happening to you.  I’ll give you a hint, it all starts with WHO you choose to do business with.

The second part of the episode involved answering the question of why a buyer or wholesaler needs to know what the seller plans to do with the proceeds.  For some, this can seem invasive yet how the question is perceived totally depends on how it is delivered.  What I mean is that when you frame the question by explaining how you as a buyer or wholesaler can solve problems, sellers are less likely to be offended by the question once they understand why you are asking it in the first place.  When a seller knows you are actually there to help them, the game changes.  Listen to the episode for a full explanation of what I mean by this and how you can leverage methods like this to do more deals.

Sep 06 2019

28mins

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194 - How Special Realtors Can Help You Get a Deal Done

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Aug 30 2019

24mins

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193 - Are You A Pirate or a Problem Solver?

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When wholesalers or investor buyers write an offer or enter into a purchase agreement or contract with a seller, they often build themselves “outs” or escape clauses into the contract.  These clauses allow them to break the contract without penalty, and often without having to provide a specific reason.

Sellers on the other hand, usually are not afforded the same ability, nor are they aware that they too could ask for an out.

In many real estate transactions, the sellers are not very experienced in the business of real estate buying or selling.  Sometimes they have inherited a property having never owned one before, or maybe depended on a spouse, family member or Realtor to handle all the details when they bought the property originally.  Also, those who choose to sell their property at a significant discount often have a compelling need to sell.

There are occasions where a Seller changes his or her mind about the decision to sell, even after entering into a purchase and sale arrangement with a specific buyer.

Sometimes when this happens, wholesalers will record a Memorandum of Contract (or Understanding) with the local court clerk, therefore, clouding a title to a property making it unable to be sold.  In many cases, this forces the seller to sell to that buyer or pay a ransom in order for the cloud to be removed from their title.

I find situations like this to be unfortunate and discouraging, to say the least..

What this tells me is that the buyer and seller really never achieved a meeting of the minds, it tells me that the seller was not really “sold” on the buyer’s offer but agreed to it anyway.

It also tells me that perhaps there was a drastic change in the seller’s situation that the wholesaler does not know about.  In this episode, I review strategies to help prevent this situation from happening to you.

Aug 23 2019

13mins

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192 - How To Avoid Getting Screwed

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Who are You Really Working With?  This is a question I think anyone should ask before they write any checks to anyone.

Lately, there has been quite a bit of rumbling in the background as some “deals” are not progressing as intended for some folks.  (Big Shocker) Some “popular” investment sponsors are being called to the carpet for investments gone wrong.

Lots of operators feeling pressured to do deals, just to do a deal and get money working.  This is no one's fault but their own.

It's not worth losing money to invest in a deal that cannot prove itself, by that I mean the deal must support itself.  You should understand all of the elements of the specific deal, most importantly, HOW it will produce revenue backed up by factual data to support the theory.

You should know each potential failure point and the remedy the sponsor has in place for that.  If you are the sponsor you should have people on your team to help you arrive at a list of solutions based on the data you have in front of you.

In value ad opportunities, the method and means to add the value must be clear, data should support the deal sponsor's plans.  If the sponsor can’t prove where the returns are coming from with verifiable data, DON’T do the deal!

Watch out for wacky title search costs, due diligence fees, and acquisition fees.  Everyone needs to eat, but only after everyone at the table has been served.  This means that the sponsor’s payday needs to come AFTER the investor’s returns are determined and distribution has begun.  If the deal can’t afford both then the sponsor needs to suck it up since they were the ones controlling the deal (that’s the right thing to do).

You should know the flow...where your money is, how specifically it is being spent.  Don’t get sucked into the hype of urgency to do a deal, far too many sponsors are in a major rush to get deals closed.  When you are rushed, you will make mistakes, this I guarantee you.

Is there collateral in the deal you are about to invest in?  Or is this an unsecured loan or investment?  You should know the answer to this and frankly, I would avoid any situation where there is no valuable collateral for you to levy in the event the deal goes sideways.

Does this investment need to be registered with the Securities Exchange Commission? You should know the answer to this even if you are the one writing checks.  If the deal structure does fall under the SEC requirements and there is no proper structure in place as WHY.  Those who tend to walk the line of the law and look for ways around it are also the ones most likely to take unnecessary risks with your money.

Aug 16 2019

31mins

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191 - How To Make a Done Deal Better

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In this week’s episode I respond to another listener question who had previously booked time on my calendar.  Here is what he said:

(edited for privacy) Hi Tyler - We spoke a couple of months ago. I have some units in TX that aren't cash flowing that well and I have a 4plex in Ohio that wasn't going well. I wanted to let you know that your talk really helped - I have turned around the Ohio property - new tenants and will start cash flowing this month. I am also set to close on 7 more units in the area - this is a deal I created - talking the owner down from 280k to 205k and I can push some rents as well.

I continue to struggle with the Texas properties. I looked into commercial loans from a few institutions and they all told me I am too small (about 1.1 million in total loans). I can't add storage units to 2 of the properties due to lack of space. On the bright side, it looks like my units are worth about 30% more than when I purchased them between 3 and 12 months ago. Pushing the rents is the only way I'll make cash flow - I've pushed the rents up 15% in a year and I project another 10% in the next 12 months.

I won’t give away all the goodies that I spelled out in the episode but I will say that there is almost always a way to make a deal better for you in regards to cash flow.  Think about how you can add value to the tenant and make a better experience for them.  Understand that if you provide the value they seek, you can monetize these things and improve your cash flow accordingly.  The rest of the details can be learned by taking a listen to the episode.

Need help getting unstuck?  Go to CashFlowGuys.com/BookTyler to schedule a call with me to help you grow as an investor or get unstuck.

Aug 09 2019

22mins

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190 - How To Get Great Deals In Any Market

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During this week’s episode I answer questions sent in by Lashonne from NYC.  She asked:

Hi Tyler,

“I love listening to your podcast while I’m at work. I’m a newbie looking for advice on my first deal. I know that I want it to be a multi family and due to my location (NYC) it would have to be out of state for economic reasons. So, I’m currently looking into NJ. I know it has some of the nations highest taxes, but cash on cash return outweighs that concern.”

My Response: I partially disagree, I believe that if your focus is on discovery of problems and solving of problems that opportunity can be found in any market or market cycle.

She went on to add:

“Here is where I need your expertise. I see so many investors purchasing NJ duplexes/triplexes for about $250k +, putting about $50-75k (or more if it’s a complete gut) into it, then renting out each unit for about $1500. Refinance and repeat (BRRR). Is it wise to have 5 or more homes with such high mortgages? They told me that their end game is not to hold on to those properties for the length of the mortgage, but to keep them for a few years and eventually sell them to have enough capital to purchase apartment buildings. My concern with this is having 5 mortgages at $300k a piece! Even if tenants are paying isn’t that too much? Or maybe I’m overly concerned and because of their exit strategy it works.”

My Response:

That rarely happens in the real world, this is because they are overpaying in the first place, thus have little to no equity remaining.  Hoping the market will build them equity without any input from them as the owner is a slippery slope unless you have a big bank roll backing you.  That said, its critical to have the properties quickly stabilized and performing in order to realize that appreciation that because the appreciation in a multi family is very closely tied to the income it generates.

She also said:

Another school of thought is to purchase duplexes for $100k (not THE most desirable neighborhoods, but okay and definitely not war zones.) The cash flow is not as high as the option above but it still makes a decent amount.

My Response:

This statement kinda sounds like you might be willing to “settle” for what is perceived to be the low hanging fruit.  I assure you that this is not the low hanging fruit you may be looking for.  Appreciation and cash flow both tie to location and value, that said, avoid anything that could be viewed by the majority as undesirable.

Above is a brief excerpt of what I covered in the episode itself.   If you need help getting on stuck, please book time on my calendar at http://CashFlowGuys.com/AskTyler or visit my website and click on the “Ask Tyler” button on my homepage.

Aug 02 2019

38mins

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189 - Should I Convert Long Term Rentals Into Short Term Airbnb Style Assets?

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In this episode, I address another outstanding question from one of our listeners, here is what he said:

“I cannot get enough of real estate however, since hearing the podcast on how you turned your fourplex into short term rentals it has me thinking hard. I got into real estate 4, almost 5 years ago. My first property was a single-family 2 bed 1 bath that has done relatively well. I then went and bought a four-plex 2 BR 1 bath that has done even better. I inherited another single family 3 bed 2 bath when my sister passed, it's a future rental as I put my mom in there, for now, rent-free. I then purchased another single family that I flipped and used that money to buy a brand new 2 BR 2 b duplex. I am currently under contract to purchase another 2br 1 b fourplex the beginning of next month. I was wondering if you could share with me how to go about turning some units into str as they become vacant. I am a go-getter, I listen and fail often but I fail forward.

Chalk it up to education. Maybe you could do a podcast on how to create the STR from your rentals, I for one would love to hear about it.

I potentially have 12 doors to turn into str's if the demand is there. Curious on your thoughts and if you could talk about the pitfalls and advantages of STR's. Anyway thanks for your time, I have listened to all of your podcasts and want to say thanks for all the great information you put out there.”

Before we begin, this episode won’t be a complete class on Short Term Rentals, that’s a series of topics that would take dozens of episodes to cover.  Instead, this is a reflection on considerations during the process.

Jill and I got started in Short Term Rentals purely to solve a problem.  The problem was that one of our seasonal tenants was having a tough time paying rent on two places (mine and his primary home in New England), I know, 3rd world problems, right?

Anyway, we saw an opportunity for a win/win and here is how the mathematics played out.  Remember, his goal was to keep spending a few months in Florida, while saving money at the same time.

Originally he was paying $700 per month which equals $8400 annually.  After speaking with him, he told me he could afford around $500 per month, and would only need access to the unit three months out of twelve.

By paying me $500 per month for twelve months, I would earn $6000 per year however, I would have the ability to earn an additional $2000 per month for 9 months.  That meant that we would generate $28,500 per year in rental income from one apartment that previously only generated $8400 per year.  Was it worth me discounting $2400 in rent from the tenant and spending $6000 cash in furnishings?  That’s $8,400 investment for a $28,500 first-year income!!  That's a return of over 300%

In the episode, I explained my initial (and current) evaluation process in greater detail.  FOr the right property, it the right location, a conversion to short term rental can result in a supercharged rental income, however, this does not apply to all properties. Listen in to get all the details I covered so you too can #LearnToEarn.

Jul 26 2019

34mins

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