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Rank #174 in Investing category

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Cash Flow Guys Podcast

Updated 10 days ago

Rank #174 in Investing category

Business
Education
Investing
How To
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.

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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

92 Ratings
Average Ratings
86
4
1
1
0

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

92 Ratings
Average Ratings
86
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.
Cover image of Cash Flow Guys Podcast

Cash Flow Guys Podcast

Latest release on Jan 24, 2020

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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.

Rank #1: 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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Rank #2: 153 - How To Make $150,000 Doing Nothing

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As many of you know from listening to the show, I LOVE passive income in the form of Mailbox Money.  In fact, it’s that mailbox money that helps me sleep so good at night.

Y'all can keep your house flipping and wholesaling garbage, I am all about slow and steady wins the race.  Speaking of which, I am opening the books on registration for the Mailbox Money Group Coaching program.  I am opening the doors for a short time to allow people inside who are willing to be brave enough to learn how to escape the rat race once and for all.

To get started, head on over to MailBoxMoneyMastermind.com right now..

This group coaching program is about cutting out the fluff and getting right to the meat of what you need to learn (and do) to build your real estate business into a recession-proof machine.  This program applies to both single and multi-family investors, note investors, and those who wish to invest in vacant land or commercial property.

We have a payment plan available to allow you to take advantage of this limited time opening, please don’t be like the people who missed out last time after we slammed the doors closed, those people are still punching a clock somewhere...

Now, let’s get down to the dirty details of how I earned my latest $150k tax-free bonus money….in case you forgot, back in 2014 my wife and I bought little four-unit apartment building (all by ourselves) using VA mortgage which means no down payment required.

No down payment does NOT mean no closing costs, I had to get creative, which I did...so as not to spoil the episode you will have to listen in to hear the “rest of the story” Enjoy..

Nov 16 2018

20mins

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Rank #3: 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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Rank #4: 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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Rank #5: 144 - Real Estate on Your Terms with Chris Prefontaine

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On this episode of the Cash Flow Guys Podcast I interview Chris Prefontaine from Newport RI who is the Amazon Best Selling Author of the book “Real Estate on Your Terms”

Chris was a home builder turned Real Estate Broker.   Since the 2008 debacle, he realized he

needed to reinvent his business so that he no longer had to use his own money or credit.  That’s when he turned in focus to full-time real estate coaching in 2014 by founding Smart Real Estate Coach.  With his adult children by his side, they coach investors on how to buy assets without using their own money or credit.

I must say I loved the book and highly suggest you pick yourself up a copy.  Chris is also throwing up a ton of bonus items for you to take advantage of which can be found at http://CashFlowGuys.com/YourTerms

What I love about Chris’ approach is that he truly believes and practices the fine are of creating win/win deals with his sellers.  His approach is pure brilliance, to focus on Free and Clear properties that allow him to avoid dealing with banks.  Any time we can eliminate a third party “distraction” from the equation we are better positioned for success.

In the interview, Chris tells us about being a “transaction engineer” which is something you must listen to because the way he articulates this is extremely powerful.

Chris also covers the two strategies that new investors need to prioritize above all others, be sure to listen in for those golden nuggets

We also discuss which specific types of marketing his team finds to be the most effective and lucrative for his company, after all, its all about the lead generation.

To grab all the free goodies Chris has for us go to http://CashFlowGuys.com/YourTerms and get registered

Sep 14 2018

31mins

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Rank #6: 092 How To Fix Your Credit Score Now with Dave Fulk

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Today’s show is a pretty big departure from the norm. Usually, I teach you an aspect of real estate investing or a wealth-building strategy, but today I’m joined with Dave Fulk, President of National Credit Federation. Dave is going to show you how you can protect yourself against creditors and bottom-feeder lenders so you don’t end up paying an arm and a leg in interest and fees as you’re building your portfolio. As a former mortgage loan officer, Dave knows how the bank thinks and how you can present yourself in the best light to get lines of credit.

Sep 08 2017

43mins

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Rank #7: 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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Rank #8: 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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Rank #9: 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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Rank #10: 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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Rank #11: 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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Rank #12: 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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Rank #13: 074 The Power of Persuasion with Ross Jeffries

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Today on "The Cash Flow Guys Podcast", Tyler is joined by Ross Jeffries, a "Speed Seduction Expert" who has been featured on the Dr. Phil talk show, the Montel Williams Show, and The Daily Show, and was the inspiration for Tom Cruise’s character in "Magnolia". Ross uses the same techniques he uses to help men build their self-confidence to put themselves out in the dating world. Ross is talking to the Cash Flow Guys audience today about how to make a better connection during the negotiation process with sellers and other investors.

May 05 2017

38mins

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Rank #14: 116 - How to Find Sellers on Facebook with Tom Cafarella

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Today I have got a fantastic guest for you! He is the host of the "Real Estate Mogul" podcast and owns Ocean City Development, a real estate investment company based out of Boston. He’s purchased over 500 properties to fix ‘n flip, wholesale, and buy and hold in the past 5 years. Tom is considered one of the "masters of marketing" in the real estate investing space, and that’s what we’re going to talk about with him today.

Feb 23 2018

36mins

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Rank #15: 149 - How To Do 60 Deals in 12 Months with Brett Buras

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Brett Buras is the Owner and Founder of Superior Real Estate Solutions. He is a Real Estate investor leveraging his marketing expertise to create off-market, discounted real estate opportunities for his company and other Real Estate Investors, resulting in nearly 100 Real Estate transactions, including Buy and Hold, Buy and Flip and Wholesaling. On this episode of the Cash Flow Diary Podcast, he shares how mindset, skill set, and a strong work ethic will help you become a successful real estate investor.

Oct 19 2018

36mins

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Rank #16: 138 - How To Get Leads For Real Estate Deals - Part 1

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In this episode, I discuss several ways to obtain leads for your next real estate deals. Let’s call it like it is, the market is hot, and good deals are not going to knock on your door, you need to think outside the box to go find them. Before we begin, don’t forget to sign up for the MailBoxMoneyMastermind.com. This will be the LAST time I am hosting this live 12 week program so be sure you don’t miss out.

Aug 03 2018

23mins

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Rank #17: 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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Rank #18: 054 What Does A Good Deal Look Like?

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Before we begin don’t forget to join our Facebook group at CashFlowGuys.com/group which leads directly to site.  Recently we did our first live video Q and A which was a big hit.  We received great feedback from those of you that attended.

The beauty of the Zoom video platform we use is that you can still join a call while having your side’s video and audio turned off.  You can literally be a fly on the wall if you want to learn without engagement.

People always say they are looking for good deals….but when I ask them what a good deal to them is, they are often unable to answer.  In this episode we will discuss what a good deal may or may not look like to you.

Regardless of the investment opportunity, there are usually many factors that determine if a deal is good or bad.  The problem is that many investors (and their Realtors) don’t spend enough time in the discovery of identifying what a good deal means to them (or their client if they are Realtors.)

How are we paying for it?  The terms of the deal (for our team) is the “maker or breaker” of the deal.  We don’t believe in paying cash for properties if it can be avoided.  Each and every offer we present for investment property includes an offer of terms for the seller to consider.  For us to make such an offer we must first understand why a seller is selling and what they plan to use the proceeds for.  (more of this to follow on future episodes)

Below are a few of the benefits that a buyer and seller can receive from structuring terms for a real estate purchase (payments for equity over time)

Buyer Benefit:

Greatly diminished closing costs for the buyer

No Appraisal Fees

No Origination Fees

No Points

No Flood Insurance Required

Seller Benefit:

Reduced Capital Gains Tax

Faster Closing

Predictable Stream of Income For The Future

Higher Sales Price

Higher Overall Return From The Sale

Hedge Against Inflation

A HUGE mistake that I see investors make often is paying based on the future performance of an asset versus its current performance.  We as investors cannot reward a seller for poor performance of an asset by compensating them based on future performance.

Speaking of performance, when underwriting an investment opportunity, we must identify the reason the property is not performing as it should.  If we are unable to identify that we should not be proceeding with the purchase until such time the issue is found and a solution is decided upon.

An example would be poor financial management practices, caused by a weak and ineffective property manager who did not keep good records.  A solution would be to request all bank records for the property and management company to audit the situation and discover the amounts of deposits made and identify any shortcomings.  Additionally, a new manager must be identified and briefed before closing in order to take over immediately after transfer of the deed.  As an extra measure, the trailing 12 months or 24 months reports should be scrutinized along with the last 24 months of tax returns.

When analyzing an opportunity, the investor should consider how much cash they have in the deal, and what their cash on cash return is.  Then decide what an acceptable return should be to make it worth your time.  One method of determining that is to factor your time spent in the deal and assign an hourly value to that.  Once you have determined the hourly rate, multiply it by the number of hours you feel you will spend working on this deal throughout the year.

Cap Rate...I dislike this term! it provides false assurance of a solid investment.  Capitalization  Rate is carelessly used in the industry as a baseline and sometimes a deciding factor when making a purchase decision.  It is best defined as the ratio of the net operating income to the purchase price.  This metric does not factor in repairs or debt service, and these two items on their own can make or break a deal.

Debt Coverage Ratio / DCR / DSCR is best defined as the ratio of cash available to service the debt (principal and Interest) of an asset.  Acceptable ratios fall between 1.25 and 2.0 or higher depending on who you ask.  By nature, I am conservative thus a DCR around 2.0 is my ideal metric.

When working with a real estate professional buying multi family property be sure your agent owns or has owned or controlled such assets.  This is a critical qualifier to be assured they fully understand the ownership aspect of this type of investment.

More often than not inexperienced Realtors use “comps” or comparable cales as a means to price or value multi family properties.  This usually leads to inaccurate and often over inflated values.  The true value of a rental property is derived from the income it produces.

Dec 16 2016

35mins

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Rank #19: 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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Rank #20: 068 Hurry The Deals are Almost Gone

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If you have been even remotely paying attention, the current real estate market is white hot just about everywhere.  This is the time when many people fold and lay their cards on the table.  Deals were plentiful just a few months ago right?  Now? Crickets…

Are you trying like heck to buy something? Anything? Just to get a deal?  Are your offers getting outbid, or worse, refused all together?  Have the realtors and wholesalers become impossible to deal with?  Crazy demands, asking you to waive inspections and contract contingencies and then asking you to sign contracts that only favor the seller and not you?

STOP!

Breathe.

You lived a long time without that investment property you are about to overpay for.  It is times like these I must remind you of why you are investing in the first place..and that is to build wealth.  You simply cannot compete against the undereducated or emotional investors and ever plan to get ahead.  The old timers have always said, and this is very true even still today..you make your money when you buy.  That means if you buy wrong, the situation only tends to get worse.

I just spoke with a young kid a few days ago who was all excited to buy his first property.  Good kid, mid twenties, wide eyed and tickled pink about the thought of being a real estate investor.

He dove in head first, spent time networking, learning, investigating and found a property in which he decided to buy.  This young man is one of those kids that tends to restore your faith in humanity, just a great guy all around.

I was happy to take a look at his deal about a week before closing.  He did his homework, negotiated a good price and got it under contract.  We covered the specific closing procedures he should follow, to include working with the title company to clear a bunch of issues with the title.  He listened intensely, took copious notes and I was excited for him embarking on this journey.

During the discussions a week before closing I had suggested he delay closing until the title company could assure him that the title issues could be cleared.  Closing day came and went, and I did not hear anything from him..until a few days after closing he messaged me saying that he closed on the property.

The problem was that he was embarrassed that he folded under pressure from the seller, who claimed to be a mentor of his.  He also succumbed to pressure from the title company and closing attorney to just get the deal wrapped up.

Stories like this are common in today’s society, we want / need / expect instant gratification and are not willing to wait for errors to be corrected.  I can’t begin to tell you how dangerous this is.

Let’s hit a few bullet points shall we?

You WILL survive without that property if the deal does not go through.

Cutting corners in due diligence will almost always leads to financial loss

You make your money when you buy, that means title issues need to be corrected before you buy.

Only buy with good financing: Don’t use instant LLC loans, credit cards, hard money, ect to buy rental property.  Jimmy Napier said “a good deal can quickly become a bad deal with bad paper on it” which means don’t agree to lousy financing.

Have you joined my Free Facebook Group?  Head on over to http://cashflowguys.com/group to join and Learn To Earn!

Mar 24 2017

30mins

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215 - Part 5 - The Top 23 Questions We Never Ask

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Any idea what the seller will do with the proceeds of the sale?  This question I guarantee that 99.999% of buyers never ask.  Why? Because if you are the type of person who is always trying to predict what will happen next it can be terrifying to ask.

In this episode, I give you many reasons and methods of how to ask this question in ways that make it easy for the seller to answer.  Knowing what the seller’s plans are for their equity once a property is sold can mean a simple negotiation that results in seller financing or a lower cash offer if they need cash fast.

Be careful assuming what a seller needs and wants, doing so will almost always result in you giving away more than you have to.  Instead, when the time is right, ASK this question and then use the answer to craft a great deal that will be easy for the seller to agree with.

When you learn to use the seller’s answer to show them the opportunity for benefits from selling to you that no one else discussed with them you separate yourself from the herd in regard to your negotiations.  The seller believes you care about them and their problem which is demonstrated by you taking the time to learn more about their situation instead of just making lowball cash offers like everyone else.

Remember this, most investors are sheep, by that I mean they follow the crowd and do and say what everyone else does.  If you are part of that flock you will waste a bunch of time being led around the prairie while the savvy investors are off in the corner making deals happen.

Need more leads to practice on?  Head on over to CashFlowGuys.com/OFA to take the 30-day challenge and learn how to source more leads than you will ever need.

Jan 24 2020

13mins

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214 - Part 4 - The Top 23 Questions We Never Ask

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In this week’s episode, we continue discussing the top 23 questions that you should be asking every seller.  Why a seller is selling can provide clues into the level of motivation a seller has.  By being able to gauge the seller’s motivation you can better access how to negotiate (or if you should even bother negotiating ) a great deal.

I am a huge believer in win/win or no deal as a mantra, the only way to structure a win/win deal is to fully understand the seller’s situation so your offer will heal their pain.  A seller with no pain needs to wait for a retail buyer who falls in love with the view or the living room drapes.  You as an investor need not bother making offers to unmotivated sellers, its a complete waste of your time and their time.

Asking about the acceptance of “payments for equity” instead of seller financing or seller funding is a much better way to discuss this sometimes uncomfortable topic.  Please understand that this topic does not need to be uncomfortable, yet we sometimes tend to try to predict the future thus having preconceived notions over how a seller will react.  Its these preconceived notions that result in the discomfort surrounding this line of questioning.

As Larry Harbolt teaches us, “Seller’s don’t want cash, they want what the cash will do for them.”

Jan 17 2020

12mins

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213 - Part 3 - The Top 23 Questions We Never Ask

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In this episode, I continue my series on the top questions that we need to ask but rarely do.  Starting right out of the gate we arrive at repairs which is by far my favorite method for phantom negotiating a great deal.

Phantom negotiating is the term I use to describe the use of psychology to impact how someone views something.  In this instance, when I engage the seller or Broker in conversation about what repairs they honestly feel are needed it changes their view of the subject property.  I ask them about the details of why they feel the repairs are needed and what they feel the cost would be.

You see, when the seller mentions it, the topic is no longer taboo to them because after all, they brought it up in the first place.  That said, don’t belabor the topic because you must maintain good flow in the conversation for it to be fruitful. During the conversation, when the opportunity strikes, we can always circle back to the topic to get the answers we need or in this case to “plant the seeds”.

No matter what cost the seller says (even if ridiculously low) don’t let them feel you disagree at this stage.  The point here is to let that number they spoke sink into their subconscious and do its work to reduce the seller’s impression of the value of the property.

So as not to spoil the episode, you will have to listen in to learn the rest of the topics I covered this week.

Jan 10 2020

12mins

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212 - Part 2 - The Top 23 Questions We Never Ask

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This week we continue down the list of the 23 questions we must get the answers to.  Being a P.IG. is something to aspire to.  By this, I mean Professional Information Gatherer, someone who is really good at getting the facts needed to properly underwrite a deal.  As our friend Larry Harbolt says, “the good Lord gave us two ears and one mouth for a reason” which means less talking and more listening.

When I make calls to find out information about properties we are interested in buying I am sure to record each and every call for my own use.  In every instance when I playback the recording I hear new information that was already told to me once, but I swear I never heard it before.  If you start doing this you will be shocked to learn how much you were told but did not hear.  There are tons of apps that allow you to record your calls, just remember that unless they recordings are for your own exclusive use, you must get the other part’s permission to record.  If the other party denies permission, you cannot make recordings to be distributed.

Jan 03 2020

13mins

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211 - Part 1 - The Top 23 Questions We Never Ask

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In this episode, we discuss the details of the primary 23 questions we need to know about every property that we consider buying.  “How,” you ask these questions will have a big impact on the answers you receive.  To make deals with sellers that make sense, we must be solving a problem which is why this process is so important.

As the saying goes, “We Get More Bees with Honey” it’s important to ask these questions in a conversational way so that the seller does not feel drilled by a wartime interrogator.  If you weave them into the conversation while remaining focused on listening to the seller’s situation, we will be better prepared to make offers that are easy for the seller to accept without much consideration.

Dec 27 2019

9mins

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210 - I Was Wrong About Direct Mail

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Ok, I’ll be the first to admit when I am wrong, and THIS Time I was wrong, I am speaking about direct mail.  The reason I have not been a huge fan of this method of marketing is that it’s generally the least effective form of marketing I see.  Although it does work to some degree, the “acceptable” engagement rates are lackluster at best.

Word on the street is that an acceptable response rate on direct mail is around 2% which for me is simply unacceptable.

If you have been paying attention, you have heard me say that I am studying the art of writing sales copy from people like Jim Edwards, Gary Halbert, Dan Kennedy, Eugene Schwartz to name a few.  This week I just finished Dan’s book called “The Ultimate Sales Letter” when I had an epiphany I felt I needed to share with you.

I discuss this in greater detail during the episode so be sure to listen in to grab those nuggets and put them to use immediately.  After all, how many “We Buy Houses” letters or postcards are you willing to pay for?

PS: A GREAT way to start learning is to grab a free copy of Jim Edwards new copybook at CashFlowGuys.com/CopyBook

Dec 20 2019

9mins

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209 - Why The First $100 Matters

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This week we are going to have a conversation about how to make that first $100 in recurring revenue.  You might be wondering why I picked such a “low” number considering that for many, the magic number to escape the rat race seems to be $10k a month.

As you can imagine, it takes lots of $100 bills to make $10,000, in fact, it takes one hundred of them every month to add up to $10,000.  That sure sounds like a bunch of work, doesn’t it? 

Here’s the good news, you don’t need anywhere near 100 doors or properties to escape the rat race.

Too much focus on “scaling” can be a recipe for disaster.  Instead, let’s get focused on a small win to gain proof of concept.

First,  focus on learning what the realistic rent amount is for a property based on its current condition.

Not in rentable condition?  Then you can’t pay a price that reflects it being in a rent-ready state.

How to do the math on this?  Listen in to this episode to learn more on how to quickly break down the deal to determine a Go/NoGo

Dec 13 2019

10mins

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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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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.