Best Real Estate Investing Advice Ever Show Podcast

JF1007: How This Kid Used GOOGLE to Fund 11 Properties in a Year and a Half!

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Portfolio loans from small banks found using Google! That’s right, he searched for small credit unions and banks in his local market and kept calling until somebody said yes. It wasn’t all Google, there was perspiration involved and that’s what it takes to become successful in real estate.

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David Zheng Real Estate Background:

– Analytics Consultant at Wells Fargo & Real estate investor
– Currently owns 10 properties and rent out 9, with having been investing since December 2015
– Goals are to reach close to 50k in passive income and own a management company
– Based in St. Louis, Missouri
– Say hi to him at djzheng6 AT gmail.com
– Best Ever Book: Redwall Book Series

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Find real estate funding on Google

 

Joe Fairless: Best Ever listeners, welcome to the best real estate investing advice ever show. I’m Joe Fairless, and this is the world’s longest-running daily real estate investing podcast. We don’t get into any of the fluffy stuff, we only talk about the best advice that moves your business forward.

With us today, David Zheng. How are you doing, David?

David Zheng: Good, thank you.

Joe Fairless: Nice to have you on the show. A little bit about David – he is an analytics consultant with Wells Fargo and he’s also a real estate investor. He currently owns ten property and rents out nine of them, having been a real estate investor since December 2015 — wow, that was quick out of the gate! Based in St. Louis, Missouri, and his goals are to reach close to $50,000 in passive income and own a management company… Good luck to you on that one, my friend! I don’t want any part of that second goal.

With that being said, David, do you want to give the Best Ever listeners a little bit more about your background and your focus?

David Zheng: Sure. Funny you mentioned that, I’m actually closing tomorrow on another apartment building, so I’ll be up to 11 properties now. But yeah, a little bit about myself – I’m actually pretty (I guess) young at this. I’ve started investing in December 2015, that’s when I picked up my first condo actually. Funny enough, it was a pretty hard kind of a deal – it was an unwarranted condo and there was a whole bunch of lending loopholes I have to jump through to get that actually financed.

Essentially, I started December 2015 and since then I’ve picked up those ten properties as you’ve already mentioned. I started off with a condo, and the first four that I picked up were all condos, and I moved into single-families. I picked up three throughout the summer of 2016, and then after that I got into multifamilies, so that’s kind of where I am right now – self-managing all my properties by myself, all the rehab… I’m kind of being the GC for it as well, it’s a whole other experience I could go on and on with.

It’s been an exciting adventure, things have been moving really fast for me, so I could talk days about this, but I’ll get to the important points.

Joe Fairless: Well, I’m sure “adventure” is a great way to describe it if you’ve grown this quickly in this short amount of time that you’ve been investing. December 2015, so what is that – two and a half years or so? You started out with condos, you had four of those, three single-family homes… When you say apartments and multi-family, I wanna make sure I know what you’re talking about…

David Zheng: When I talk to my friends sometimes I say apartment buildings because it sounds better, but all the multifamilies that I currently have are 3-4 units, so they’re just kind of multifamilies more so than commercial great 5+ units. I will get there at some point.

Joe Fairless: Okay, so you’ve got four condos, three single-families, and then what do you have on the multifamily front?

David Zheng: So multifamily I have a three-unit – that will be a part of my story later for one of my biggest purchases. I’m closing tomorrow on a four-unit, and then in about a week and a half I’ll be closing on a duplex.

Joe Fairless: Wow, okay. We have to get to the bottom of how the heck are you able to close on all these properties in such a short amount of time – how are you financing them?

David Zheng: I’ve gone through a couple different ways… When I first started, I actually — because of the condo that I was in… The condo that I first bought was in a complex that essentially had like 80% rentals, so obviously lending on that, Freddie and Fannie didn’t like it, so I had to go through a portfolio loan on that one… That kind of already drove me into the deep end on the lending spectrum.

I have a whole bunch of portfolios – about 30% of them are portfolios, a couple just regular convenationals, throwing down 30%, and then the rest of them are all commercial loans, essentially.

Joe Fairless: Okay. When you say portfolios – will you elaborate?

David Zheng: Portfolio meaning I go through small local banks, and these are loans that the banks basically hold in their books, they don’t sell it on the secondary market or anything like that. It’s a little more lax in terms of what you need to qualify for them, and then the different kinds of properties — you have a broader range of properties that you’re allowed to buy. So again, usually those come with higher rates, balloon loans and higher down payments, but it gets the job done.

Joe Fairless: What portfolio lenders do you use?

David Zheng: One of them is actually the first community credit union; there’s another local bank here called the Central Bank of St. Louis. They’ve been really good to me, they’ve done three of my loans; all of them are the condos, so they’ve been good to me there. But yeah, most of them are just through local banks that I find googling it.

Joe Fairless: Wow. When you’re googling for the local banks, what are you searching for?

David Zheng: Google has been my best friend throughout this whole thing. I never grew up with a mentor or anything like that. Honestly, I googled “mortgage loan St. Louis” or “bank St. Louis.” I can’t really recall exactly what I put in, but you put in some very generic words and you just start searching. One of my biggest things that I did was sometimes on a deal I would have to call 30-40 people, even local banks outside of my area to lend on something. Again, it’s an umbrella search, and then after that I start digging down. Like I said, I just call a lot of people.

Joe Fairless: [laughter] I’m so glad that we have gotten to this part of the questioning in your story, because this is something that would likely get glossed over in the story, but it’s an important component, that you’re making 30-40 calls to lenders for one particular property. What were you seeking that you weren’t getting from the lenders?

David Zheng: Honestly, you can imagine the roadblocks I’m gonna hit, being a young guy who’s trying to invest in real estate.

Joe Fairless: How old are you?

David Zheng: I’m 26 right now.

Joe Fairless: Okay.

David Zheng: So you can imagine, a guy comes in calling your office, saying “Hey, I found a property I wanna buy. I’ve only been doing this for two months and I’ve already bought three more. My DTI looks absolutely horrible on paper because all they see are all these mortgages, they don’t see the rental income, because I haven’t filed my taxes for them. So you’re gonna hit all these lenders who say “We can’t do it. Our underwriting is not gonna approve this. Your DTI is too high. You don’t have a track record.”

The only reason why I kept calling people was because I was getting so many no’s, and the one thing I hate the most is being told no to.” So I was always on this track of just “I need to get this funded somehow; I will get a yes.” Thankfully, to this day, any property that I have put a contract on, I have not lost.

Joe Fairless: So you were just looking for a yes, it wasn’t necessarily that you were looking for specific terms… You were just looking for a lender to do a loan on the property. What were the terms and who was the lender after the 30-40 calls that you ended up going with?

David Zheng: I’ll speak to one specific deal – this was the hardest one that I had to get. First the condos, the single-families – again, they were pretty generic, kind of just calling around for conventional portfolio loans. It was this multifamily, the three-bedroom that I was talking about, I actually offered on it September, closed in October. That one was really hard, because 1) it was the first property that I was trying to go through just the listing agent. I was representing myself basically as a buyer and that was difficult enough. It was also a rundown place, it needed a lot of work, so I had to find funding for that. Someone I had to find the lender who would actually just purchase the property itself, minus the rehab costs. That was pretty difficult.

I called the banks that I’ve worked with previously, they didn’t help me. I called my portfolio banks, they never helped me out. I remember I called a local bank in Kansas City and even New York; I was like, “Hey, I’m in desperate need of lending for this, because this is a killer project for me. Can you help me out?” and they all rejected me.

Joe Fairless: And what was the reason…? For all those reasons you stated earlier, debt-to-income, no track record, distressed property?

David Zheng: All that and more because, again, this property needed so much work before I could even rent it out, so it wasn’t just like a turnkey where I could just flip it and then rent it out. All the other properties I had, I rented them out within a week, which is great, but this one, I needed to do a lot of work and the banks were hesitant. It was my first multifamily purchase as well, so that was hard.

In the end, I just fell back on what everyone else does – I went to a hard money lender, and even then I had to go through like five or six of them before I found one that had decent terms for me.

Joe Fairless: Yes, and you probably used in quotation marks for decent terms. What were the terms?

David Zheng: The terms on that – it was a 12-month interest-only loan. They basically funded — I think it was 80% LTV for the purchase price, plus up to 100% of the rehab costs as long as it was 65% of the ARV. So I’ll just speak on the numbers… I got this building for 230k, and then I actually fell extremely short on my rehab. My budget was actually around 110k, but I had to somehow smoosh it down into $86,000, because that was about how much they would be able to lend to me. I said, “You know what? I’m gonna make this happen, I don’t care if I have to do everything that doesn’t need a license-bonded contractor, I will do it myself”, and I basically told them that. And in the end I did a lot of that.

But 12-month interest-only payments, 10.75% was the interest rate, so that came out to be around $2,250/month in just pure interest, and then of course the lump sum, the loan was due at the end of the 12 months. Of course, refinancing as quick as possible was important. My down payment was — I don’t remember the upfront points, but it ended up being around $80,000 to fund the whole thing, upfront.

Joe Fairless: So how has the project turned out?

David Zheng: It was great. I was really worried about this thing originally, and it turned out to be my biggest success story. Like I said, it was in for $230,000, and then I spent another $110,000 to rehab it. At that point I’m $330,000 of value into this property, where I’ve put down $80,000 cash. That was in October when I closed. I finished in January because I pushed my contractors really hard; I pushed myself really hard to finish this as quick as possible.

I rented it out in January… $8,100 for the whole building, so essentially $2,700/unit. After that, I went straight into my little calling phase again. I was calling commercial lenders all over the place, most of them local, and finally one of them said, “Hey, we’ll do a cash-out refi without the six-month seasoning for you. It seems like you did a really good job.” I gave them the leases, I showed proof of all the work I’ve done. They brought an appraiser out there, they came back and they said “This thing appraised for $680,000.”

Joe Fairless: Bravo!

David Zheng: I’m not gonna lie, I basically sat an hour, I just looked at the appraisal… [laughter] And just like, “No, no…” And of course, at that moment I was like, “What if I get 80% of that in the cash-out refi? I’d be pulling near $300,000 out.” Of course, not everything turns out as good as it is, but they ended up giving me a loan, 66% LTV, so I was still able to pull $200,000 out of it after I paid the $250,000 I already owed to the hard money lender.

With that $200,000 I ended up buying the four-family, the duplex, and I’m also — since I’ve rented out my current condo that I’m living in next June, I’m using part of that down payment for another single-family for my house, essentially. So this deal was definitely a killer. Not only did I get a crazy cash-out refi, I got all my cash back, I’m also renting it out for a great cashflow.

Joe Fairless: So that one deal helped you buy one other deal, right?

David Zheng: Two and a half other deals.

Joe Fairless: Two and a half other deals, because the money that you used from it allowed you to put in the down payment for two and a half other deals… That is three and a half deals, and you’ve done how many total deals?

David Zheng: I would have ten rentals at this point.

Joe Fairless: At this point, yeah. I know you’ve got some — you’re closing on a duplex a week from now, but let’s just do this point. So at this point that’s three and a half deals, and the money that you put into that deal originally came from working as an analytic consultant?

David Zheng: Yeah, so I was fortunate enough that when I was a kid — I’m not [unintelligible [00:14:11].16] I was kind of a loser… [laughs] I worked a lot, I was a busboy at a high-end restaurants. I worked 3-4 nights a week. I didn’t really do anything with my friends, because I was such a money hoarder, so I would just sock it away in a mutual fund since I was like 16 years old.

Then my parents had saved up a pretty hefty university fund for myself. I went and I did really well in school, I studied hard, I got a full ride to the university where I wanted to go, and essentially they said, “Well, you’re not using any of your money because you’ve got a full ride, so it’s yours.” Then I still didn’t do anything with it. I didn’t use it for vacations or anything, I just kept it in that account that they had set up for me.
Once I got into real estate investing I was like, “Huh…” You know, I started reading up on returns and things like that, on the stock market, in real estate, and I was like “I might as well give it a shot.”

So funding – a lot of it came from that university fund that I didn’t use because of that. A lot of it came from me saving up over years and years and years worth of internships or busboying or other side-jobs — which I also actually do have a nightlife company on the side as well that I own. I rent out a lot of audio and lighting production to local night clubs and venues and things like that. And then also, of course, analytics consultant… I don’t live too lavishly right now, so I socked away a lot of my earnings since I started working. My checking account – I just kind of left it there. Now I’m putting all of it to work, essentially.

Joe Fairless: Okay. So that was the money for that property. Then what about the other six and a half properties? Where did the money come from for those?

David Zheng: That was a combination…

Joe Fairless: …of everything you’ve just said?

David Zheng: I would say 80% of what I’ve invested was from myself, and then about 20% I’ve gained from friends and family. I’ll be honest – the way I did it, I kind of used their money to pay for my food, my personal living expenses, so I could sock my living expenses into the real estate. It’s kind of unconventional, but essentially in that regards… There’s a lot of lenders who are like “Well, you can’t use your family or friend’s money for it”, and I was like “Yeah, I get it.” So I was like “Well, in that case my parents could just help me pay my car insurance etc. out of their account”, and essentially all my earnings are still mine, so I’m free to use that.

I kind of played around with how I used my money, but like I said, 80% of it was my own that I’ve had forever, so I used it pretty heavily.

Joe Fairless: And you said as far as the financing goes – because that really is the key… Well, there’s a couple keys here, and I’ll summarize later, but the financing is a big part. Clearly, your fiscally-responsible approach is also a big part, and then finding these deals is another component to it. But the reason why I believe most people don’t go as quickly as you go is they don’t have the money or they haven’t exercised their resourcefulness to get the money. In your case it’s both – you were living fiscally responsible and also you were resourceful in a way that got more money to bring the deal.

What type of arrangement did you have with the 20% of the income that you did get from relatives? What arrangement did you have with them?

David Zheng: I actually used a rather unconventional method… It was relatives and friends. Believe it or not, it kind of stems from me being very outspoken about myself. I’m pretty active on social media, and when I do these deals I don’t post the exact everything, but I’ll say “Hey, I closed on another house and I’m getting great rents. I’m doing great, this is awesome, this is fun”, and I keep on doing this. Like I said, the first couple of deals all came from myself, my own money etc. Once I started posting success stories — I’m not like one of those gurus out there who are just like “Oh, you need to pay for my thing” or “You need to go to this free seminar”, I’m just posting my stories on Facebook as a status and I’m saying “Hey, I’m doing well.”

After my fourth and fifth deal one of my friends actually came and messaged me. He was like, “Hey, I was wondering if we could do a deal together, or something like that” and that’s when it hit me… I was like, “Wow, this is gaining attention.” I reached out to my family and friends who were interested, who constantly liked my posts, commented on it or said something or asked me questions. I’m like, “Hey, if you want to, you can be a loan shark with me for my deals.” Especially my parents, they trusted me; I told them all the numbers, so they know I’m doing well, but with my friends, especially when I was showing how well I was doing, they trusted me with their money and they said “Hey, let’s do it.”

So we worked out something like a hard money lender, essentially. It’d just be like “You loan me a certain amount, I’ll give you a percentage back. At the end of the 12 months or any time before that I will give you your lump sum back and you get to keep whatever interest you’ve accrued over these months. I’d actually just stick it to them at a 10%, because my rents generate a lot of cashflow. It’s not that I’m worried about not getting the money the later and returning, it’s like I just don’t have that money right then. I know that the rents are gonna come in, they’re gonna cover that interest and then I’ll be able to pay that lump sum within a couple months, so that was never a concern with me.

So these were the kinds of deals that I worked with, and the biggest thing is I tell them, “Hey, you know, your money is sitting in your checking account right now, or in a .01% or whatever it is in interest. You’re not doing anything. If you’re not gonna buy a house or a car or have a kid anytime soon, you might as well stick it with me and then get something back over the next couple months”, and 10% is still better than a lot of people are making in other investments.

Joe Fairless: Are you securing it with something?

David Zheng: A lot of it is trust. I’m not gonna lie, a lot of it is trust. Another thing is I tell my friends, I would rather work at some fast-food place 24/7 to pay you back than not pay you back. And lastly, of course, [unintelligible [00:19:59].23] I’m like “Well, if something ends up going wrong, I’ll sell one of my properties, grab the equity out of that or whatever I have down into it and I will pay you guys back. I will sell the properties that I first bought.” That already accrues into over $100,000 worth of equity, so… They felt very safe. Again, they very much trusted me and what I did. I had a couple things going for me to show that I was trustworthy, and I did write contracts with all of them that basically amortized the loan and showed them month-by-month what they would be getting. So I spelled it out pretty clearly to them.

Joe Fairless: How much across the board in rent is coming in?

David Zheng: A lot of my rentals are actually students. There’s high turnover, but it’s higher rents. Starting 1st August 2017, my maxed rents will be at $34,000/month. Right now I’m only hitting like $27,000, but of course, I still have three other properties I need to account for in terms of rents, and then another couple that I’m rehabbing to get higher ones. But yeah, $34,000 is what should be coming in 1st August. Those have the leases in, deposits and everything.

Joe Fairless: Do you still have some hard money loans out that you have to pay back?

David Zheng: I do not. The only hard money loan was the one I did back in October. The two multifamilies that I’m closing on tomorrow and then a couple weeks later it’s actually another local business bank; they’re doing commercial loans, only 20% down. It’s nice getting to a point where banks are like, “Hey, we trust you. You have a great track record… We’ll do 20% down. We won’t make you do 25% or 30%” and whatever. So it’s nice that lenders are willing to work with me now. But yeah, I have no other hard money loans outstanding right now.

Joe Fairless: What is your best real estate investing advice ever for someone who wants to replicate this model?

David Zheng: I would say “Sell, sell, sell.” What I mean by that is you need to be constantly on your game in terms of networking. For my example, I’m selling to tenants. The reason I can get higher-paying tenants is because I sell myself as a landlord. They love a young guy who’s flexible, who’s understanding, who can communicate at a second’s notice – which I do. It is tougher on me, but again, you’re there to serve your tenants, essentially.

So I’m selling myself to my tenants, I’m selling myself to the lenders… Like I said, I’m calling 40-50 people sometimes on a deal, saying “Hey, look at me. I might be young, I might be starting out, but I’m getting a track record, I’m doing well. Here are my leases, here are my expenses. Look at the spreadsheets I put together” and I’m throwing it at them and selling myself as a borrower, as someone who’s trustworthy. I’m selling myself to the agents. When I’m even offering on a property — there will be other investors who are in there who want a piece of that action, and I’m sitting there like “My offer may not be always the highest, but I can assure you I’m gonna close on it”, or “I can assure you I’m gonna take care of this place” to those who are more emotionally attached.” So I’m selling myself to them… To my investors as well – I’m selling myself as a person who’s gonna manage their money well and who’s gonna take care of it and give them the return that they deserve.

A lot of this is networking, a lot of this is talking. Some people say it’s having a silver tongue, essentially. So you’re always just trying to make people feel comfortable with you, make people trust you – which they should; I’m not saying I make them do it and screw them over, but you always want to bring up your own reputation and then sell yourself to whoever it is you’re talking to. In those regards, you’re going to get the best deals, the best tenants, the best investors.

So that’s a part of it, and then the other thing is don’t take no for an answer. You’re gonna get it, but you’re gonna find someone else who’s gonna say yes eventually. As long as you sell yourself, show that your reputation is good, show that you have a track record and you can do it. Of course, that comes with working hard all the time, especially doing the rehab project of the last building. I still have a full-time that I’m doing 40-45 hours a week on top of self-managing over 50 tenants and trying to do a rehab project while picking up other deals, and doing a nightlife business on the weekends at night.
Like I said, you’re doing 100-hour-weeks all the time, back to back to back. I don’t have a wife and kids, no pets or anything like that. You’re not gonna be seeing many vacation days… It’s funny, because for many months, actually, my vacation days were — because I would use my vacation hours to go to a closing, or because my contractor would be like “Something’s wrong” and I’d have to run over there.

I’m kind of going all over the place, speaking about all the kinds of things you should kind of take away from my experiences, but hard work is the generic answer. It really is that if you don’t put in the time and the work, you’re not gonna succeed in this business. Number two, you don’t give up. Perseverance is so important. Don’t take no for an answer and keep searching for that yes. Then finally, being able to sell yourself, know what you can do and what you can offer.

Joe Fairless: Are you ready for the Best Ever Lightning Round?

David Zheng: Yes, let’s go.

Joe Fairless: Let’s do it. First, a quick word from our Best Ever partners.

Break: [[00:24:50].00] to [[00:25:43].26]

Joe Fairless: Best ever book you’ve read?

David Zheng: Don’t laugh, Redwall series. I’m gonna give a little background. This is basically a children’s book; it’s not The 4-hour Workweek or Rich Dad, Poor Dad, it’s actually a children’s book. I grew up reading it. I love them so much because a lot of the characters inside, they persevere through a lot of hard times. They’re always striving for something and it inspired me. I took that all through my elementary, middle school, high school, college years, and I was like “If they can do it, I can do it.”

Joe Fairless: Best ever deal you’ve done?

David Zheng: It was that big cash-out refinance that we were talking about on that three-unit. Again, that thing really catapulted me into the multifamily business, so it was definitely the best deal.

Joe Fairless: Best ever way you like to give back.

David Zheng: Setting example. Like I said, I’m very active on social media and I like to post up inspirational things, whether it’s a deal I did or just a quote I found, or some kind of meme. And people come and ask me questions, or they come to me and say “Hey, you know what? That status just really picked me up one day.” I’m like, “I’m gonna keep doing it”, and hopefully I’ll inspire more people.

Joe Fairless: How about a mistake you’ve made on a particular deal that you can think of?

David Zheng: All roads lead back to that three-family, but essentially, with the rehab project, the most mistakes I’ve ever made was not looking up local laws, permits, occupancy, things like that. I almost got condemned on, I was almost sued… It was all over the place. I finally got it straightened up, but I had no idea about any of these things until push came to shove.

Joe Fairless: Who was gonna sue you?

David Zheng: The local government. They were saying I had tenants in there when they weren’t allowed in there, I had outstanding [unintelligible [00:27:16].25] my contractors were supposed to take care of, but they didn’t. Again, another story for another day, but the local government – they were trying to put all these things on me, essentially.

Joe Fairless: And how did you not get sued and navigate around it?

David Zheng: Basically saying, “Hey, I’m in the wrong, I’m sorry. I’m gonna pay a couple fees to you guys to get these things taken care of.” I called my contractors to clear it up… Essentially, anything that I could shove on to them because it was their fault, I did. Things that were my fault – again, I basically just ponied up, said “Hey, I’m sorry. I’ll pay the fees that I need to. I’m not gonna argue, and I’m gonna get these things taken care of right away.” Selling myself as a young real estate investor trying to make the area better – which I was, so they respected that. But it was still a lot of headache that I had to deal with, but we did get a result.

Joe Fairless: What’s the best place the Best Ever listeners can get in touch with you?

David Zheng: Most likely just e-mail. If you guys can end up finding me on Facebook, feel free to follow or add me as a friend. My e-mail is djzheng6@gmail.com. I’m very active, so I usually respond to the e-mails promptly.

Joe Fairless: And will you repeat that e-mail again?

David Zheng: Yeah, it’s djzheng6@gmail.com.

Joe Fairless: Alright, well this has been a power talk on how to scale quickly. Two and a half years, over ten properties, and you did a phenomenal job summarizing earlier… I’ll take a crack at it as well for your keys, and I’ve written down five of them that come to mind. One is your resourcefulness and persistence – you don’t take no and you find a way to get the job done. Two is being fiscally-responsible; you’re making money and you’re working hard at making the money and then you’re keeping the money, and then you’ve reinvested the money. Three is finding deals – we didn’t even touch on that, we didn’t have time, but you’ve been finding these deals that work. Four is you’re someone who people trust; that is something that might be talked about a lot – people do business with those who they know, like and trust, but it really isn’t something (I don’t think) that can be taught, it’s just something that if you’re either a good person with genuine interest to help others and grow your business or you’re not, and if you are a good person and you’re true to your word, then people trust you and they do more deals with you. And then five is what you mentioned – you said “Sell, sell, sell”, and I thought you were talking about selling properties, but then you didn’t talk about that at all, you talked about selling yourself. You’re always networking, you’re selling yourself, to the tenants, to the agents etc. Those are the five keys that I wrote down for your success, and thanks for going into the case study on how you got the loan, how you had to do 30-40 calls with lenders etc.

I hope you have a best ever day, David. This has been an inspirational conversation. We’ll talk to you soon.

David Zheng: I appreciate it, thank you for having me on.

 

 

 

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JF958: Why Your Vacations are LAME if You’re Not ADVENTURE FLIPPING

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Vacation plus rehabs doesn’t equal humdrum work…out guest turned it into an adventure. The whole family goes to the property selected for rehab. Cosmetic upgrades, paint, and other easy expenses are put into the property while the family rocks! Hear how else he is investing in real estate!

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Doug Larson Real Estate Background:

– Real estate investor for 17 years with being full-time for 11 years
– Rentals, fix and flips, land, & lease-options in Hawaii, California and Utah
– Bought and sold over 100 properties
– Philosophy is not about collecting a certain number of doors, it’s about financial independence balanced life
– Based in Park City, Utah
– Best Ever Book: The Progress Paradox

Click here for a summary of Doug’s Best Ever advice: http://bit.ly/2oK5QYa

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how to adventure flip

 

Joe Fairless: Best Ever listeners, welcome to the best real estate investing advice ever show. I’m Joe Fairless and this is the world’s longest-running daily real estate investing podcast. We only talk about the best advice ever, we don’t get into any fluff.
With us today we have a real estate investor who’s been investing for 17 years. How are you doing, Doug Larson?

Doug Larson: Hey, I’m doing great. Thanks for reaching out, Joe.

Joe Fairless: My pleasure, and nice to have you on the show. A little bit about Doug – he is a real estate investor, as I mentioned, for 17 years, with 11 of them being full-time. He’s done rentals, fix and flips, land, lease options, and he invested in Hawaii, California and Utah, where he is based in Park City. He has bought and sold over 100 properties.

Doug, with that being said, do you wanna give the Best Ever listeners a little bit more about your background and what you’re focused on now?

Doug Larson: Late 1990s I was a college student and working on a traditional path. I saw an infomercial, late-night TV [unintelligible [00:03:01].07] No money down! Make millions while you sleep!”, you know the routine. I just thought, “You know what? I wanna do that. If there’s really money to be  made, then I wanna do it.” I ordered the course and read through it like three times, and kind of dabbled in it. I made some phone calls; I probably looked like a fool on the phone, but eventually when I moved back to Southern California, I bought a house in [unintelligible [00:03:24].04] that was my first live-in-flip. I live there for a little over a year, I made some money on the resale… I thought, “You know what? I need to do this on purpose.”

At the time I really wanted to move back to Hawaii, where I had attended school. So I went back over there, I lived on Maui for five years. I had a day job, but on the side I also did four single-family residences, lived-and-flips [unintelligible [00:03:49].13] Then I also renovated and sold a condo.

In 2004 I met and married a wonderful woman from Utah, and I decided to move to Utah – I did have some family that lived up here – and I decided to do real estate investing part-time.

The first couple months were a little rough in Utah, just trying to get a feel for the lay of the land, and I actually started investing in the Park City market, because it was very similar to Hawaii; not the temperature, but the same kind of buyers, the same kind of homes… There’s their second homes, third homes, you have kind of a retail buyer that’s not constrained by the “Oh, it’s gotta qualify for an FHA loan”, and those kinds of things… You know what I mean.

So I started investing up there and it worked out really well after the crash – they kind of licked their wounds – and I have branched out into other spots, even back in California. It all worked out really well; I lost some money in the downturn, but we did not default on a single property. We just ended up losing a lot of money, but we still came out the other side doing okay, and life is good.

Right now we’re doing mostly rentals, land, a few wholesales… I do two or three flips a year in Utah, in California… The ones in California I call adventure flips.

Joe Fairless: Why adventure flips?

Doug Larson: Well, I live in Utah, so to do something out of state, you either have to have a lot of boots on the ground and organize things by phone, or you can go down there. This last summer we went down and picked one up about five miles from the beach, in North San Diego County, ocean-side. The whole family came down, and we lived in the property… More like camping, really, but… We went to amusement parks and the beach and all that kind of stuff. We lived there for almost three months while I was managing contractors and things. It really was a lot of fun, it was an adventure.

Joe Fairless: What type of condition was the property in?

Doug Larson: In good condition, just dated. All the cosmetics… I think we spent about $45,000, and probably two-thirds of that was labor with subcontractors.

Joe Fairless: Okay, it was enhancing it, it wasn’t anything major… It’s interesting that you turned a flip out of state into, as you call it, an adventure flip. I wouldn’t necessarily say it was a vacation, but it was an extended road trip with your family. That’s pretty cool, I hadn’t thought about that. What made you think of bringing the whole fam and moving into the house that you were flipping?

Doug Larson: Well, before my oldest – who is now 10 – was even in kindergarten, we did three fix and flips in the San Diego area, while still technically living in Utah. It’s just the market that I grew up in, I know it, I understand it, and beyond that, in some of those nicer areas there’s a little more upside. There’s people who really appreciate the turnkey, and maybe for living there, the doctors and lawyers – they don’t get their hands dirty. They see something turnkey and they’re like, “Hey, you know what? I know it’s 50-70k more than this nasty fixer-upper down the street, but I’m willing to pay for that because I just want turnkey. I wanna move in and not have to worry about stuff.” I really appreciate that in those kinds of markets – Hawaii, Park City… Certain parts of Utah will allow for that, but California – I just love it and it was an excuse to go and visit…

I did three of those in 2010-2011. The last one I sold in 2012, and then we just decided we wanna do it again. My wife wants to do it in Florida now. I’m like, “Okay, honey… Maybe we will, but maybe not this summer. We’ll see.”

Joe Fairless: Have you thought of doing the flips based on where you wanna spend time?

Doug Larson: Yeah, absolutely. That’s a big criterion. If you’ve read The Four-Hour Workweek, or the E-Myth (The Entrepreneur Myth), or books like that where they talk about — and I don’t agree with every little thing in all those books, that “you owe it to your business to get to this level” or something, but I do like the fact that they talk about “your business works for you, and not the other way around.” Make sure that it fits your lifestyle and the things that you really wanna do in life, instead of your business owning you.
There’s a lot of things that I think I’ve done, properties that I’ve had that helped with the lifestyle design and not just “Oh, will this make me money? You have to work yourself to the bone…”

Joe Fairless: Well, adventure flips – and I’m gonna keep using that term because I like that term – is one way of having your business work for you and not the other way around… What are some other ways you structured your business to align with that?

Doug Larson: I would say the move to Hawaii in the first place and the kind of lifestyle that I had over there was certainly conducive to that. As they say in Hawaii, “Any time off is time in Hawaii.” Everybody has to have a job still, everybody works and they’re busting around doing things, but hey, if you’ve got two hours off, you’re at the beach in Hawaii.

Things I’ve done here in Utah… In Park City there’s this couple neat condos up there that have quarter share rentals – almost like a tiny share, but they’re quarter shares, so you have 13 weeks. I was able to purchase about five of those at different times over the last ten years. They had day use privileges, so they were an investment, but we could also go up there, and I’ve made money on all of them except one. Collectively, I’ve made money more than that money would have made sitting in the bank. They’re between 40-60k dollars for these quarter share units, but you get access to this five-star resort. They’ve got owners lounges, full kitchens, pools and hot tubs, sauna steam room, and you can go up there and just spend the day like you own the place, but you can also get the revenue from renting the property out. You can use their management system and it’s a pretty hands-off thing.

I also own some recreational property quite a bit East of here – about an hour and a half East – and we go out there, we’ve got a couple of little mini-cabins, we spend time with the extended family and we play with quads, and go fishing and stuff like that. And again, I think those are good investments; maybe not as good as some other investments, but they help the overall freedom and lifestyle factor. They give you some fun, and it’s not just drudgery.

Joe Fairless: I’m glad you mentioned some of those specific examples. For the quarter shares, which I haven’t come across that term, but you said it’s just like time shares, but you rent by the week, right?

Doug Larson: You get the quarter share of a unit. You actually own 13 weeks. They have a schedule and they say “These are your 13 weeks.” Your weeks come up around Christmas time – those are the golden weeks – and you [unintelligible [00:10:08].04] for your unit, Christmas and New Year’s, and also President’s Day weekend because it’s a ski resort. It’s kind of a unique kind of a time share, but I’m only buying these resale; I would never buy one retail, because there’s just too many commissions and other things involved. But you buy these on the secondary market and they actually work out for [unintelligible [00:10:25].15] investment. The return on investment might be 5% per year, but if it’s incorporated into your lifestyle and the money is doing more than just sitting in the bank – at what, half a percent these days? – then that’s good to me, and it can really help to give you some more fun, freedom, adventure, rather than again just, as I say, toilets and termites.

Joe Fairless: Yeah. For someone who is interested in doing quarter shares, you said three of them have worked out well enough, but one of them you lost money… What’s the difference between the three and the one?

Doug Larson: I think there were actually five in total; I remember I bought two at one point from a bank that was selling some after they foreclosed, and I think one did not… We lost about 7k on that one. The only reason why we lost is because we sold it – I really needed to raise some capital for something else, and I could either borrow at hard money terms, or I could sell one of these units, and there was somebody that had said they were interested, and I said “Oh, what the heck, I’ll just sell that.” So I did, and we lost a few grand on it. But again… Vacation money.

The other ones… If you average them all together, we came out ahead. My wife’s on board, and anytime it’ll make sense we’ll probably go buy another one, but we’ll see how it goes and how it fits into our lives. We’ve got three kids now, so [unintelligible [00:11:37].22]

Joe Fairless: The recreational property – you called that it an investment, where you have a couple cabins, so I assume you rent those out?

Doug Larson: I don’t actually… I just let friends and family stay there. They’re not income-producing, but I sent out letters to people who had property on water – there’s a really nice stream out there – and I actually got responses… I sent maybe 20 letters and I got responses from about 5 people  who said they were interested, and I said “Well, what the heck?”, so I bought five different parcels that all are kind of in a similar area, and they’ve got water access, and good fishing, hiking, biking, off-roading and things like that. Eventually, we’ll probably market those.

I think a couple weeks ago we had somebody on that talked about investing in raw land, and I was very intrigued in his method of doing it, but I figured it works for me.

Joe Fairless: Are those five parcels connected?

Doug Larson: No. Actually, two of them are connected to each other. The rest of them are not, but they’re within five miles of each other.

Joe Fairless: Okay. What did the letter say?

Doug Larson: Probably the standard thing – “Hey, I’m interested in buying your property. I see you own this five-acre piece. I like it if something’s on the water, like yours is. Here’s what I can pay.” I don’t think I say “Can’t pay retail”, I just said, “Here’s what I can pay for your property.” And then they called back.

I actually got one person who called that was very irate, but anybody who sends out letters knows that. I don’t do a lot of wholesale letters and cards and yellow letters and things like that, but I knew what I wanted, I had the tax record and just printed things out… I’m glad I only offended one person.

Joe Fairless: You put the amount that you were willing to pay in the letter, so every letter was different?

Doug Larson: I think I said “per acre”. One was a four-acre, one’s a five, one’s a ten, one’s a twelve-and-a-half… So I just said, “Here’s what I want you do to”, and I had them call me back.

What I was hoping was that maybe some of them said, “Oh, by the way, I own this one next door” or “The neighbor next door might be willing to sell as well”, or something like that, so they could kind of have something to pass along. But I think I said, “per acre.”

Like I said, I had a pretty decent response. There’s was a lot of “Don’t want to” as far as property goes, especially if they’re delinquent on their taxes, or they’re just getting old and they just don’t have a use for this property anymore.

Joe Fairless: You sent it out to roughly twenty and you got five responses?

Doug Larson: Yes. You could say six if you count the guy who swore at me.

Joe Fairless: Yeah… [laughter] You definitely got six responses. When someone calls irate and they just are laying into you, what do you say to them?

Doug Larson: I say, “Well, sorry I offended you, I didn’t mean to do that. I’m just looking for some recreational property for me and my family. If you ever do change your mind, you can certainly give me a call back.”

Joe Fairless: [laughs] And what did they say?

Doug Larson: I can’t even remember. I don’t think he was still very happy.

Joe Fairless: Got it. So the five people that called you interested – you bought all five of their properties?

Doug Larson: I did, all five. I see a good potential for resale on these properties and making some money. I did have some ideas about improving them, with mini-cabins as well, but I just got so involved in other things that I haven’t taken that to full fruition. But it’s one of those things [unintelligible [00:15:02].17] legacy properties in the meantime, and hopefully appreciation of the asset in the meantime, and we’ll just see how it goes.

Joe Fairless: What do you attribute having a 25% response rate to on that direct mail?

Doug Larson: Again, I think if you find the right motivated sellers and you push some of the buttons, you’re gonna do well. I know that’s the case when wholesalers talk about their [unintelligible [00:15:25].12]. I attended a meeting very recently where one wholesaler said that he sends out 125,000 tickets of mail every month, and it’s “We’ll buy your home, we’ll buy it in any condition”, and those kinds of things. They get a 2% or 3% response rate with housing, and the people who do call are motivated.

Out there, I would say, these properties are not bringing in any income. They are mostly older people who’ve owned them for a long time. I didn’t necessarily look at tax records as a stipulation, but there were a couple of them once I pulled all that information up and I thought, “Oh, they’re delinquent a year or two”, so they’re probably getting tired of owning them, and sure enough, those are some of the ones that did respond back and said, “Yeah, it’s an offer… I’d be willing to sell.”

If they’re not paying their taxes, and their taxes are $100/year, then they could probably use a couple thousand dollars, right?

Joe Fairless: Yeah, exactly. How did you determine how much you were gonna pay per acre?

Doug Larson: I just called sold comps; there’s a lot of property for sale, but there might have been a dozen similar properties that had actually sold, and I just said, “Okay, if that’s what I can get it for, then I’m gonna reduce it by about half, and see if I can get the properties for that.”

Joe Fairless: You look at sold comps by the acre and then you divided it by two and that was what you were offering?

Doug Larson: That’s right.

Joe Fairless: Of those five people you closed on, how many of the five did you pay above that 50% threshold?

Doug Larson: I don’t think.

Joe Fairless: None of them negotiated with you, and you didn’t budge with any of them?

Doug Larson: I didn’t budge… A couple of them asked for a little bit more, and I just said, “Well, I’ll take a look at it”, and I was pretty firm on my prices. I just said, “Here’s what I need to pay. I really like your property…” I never insult anybody about their property. I never say, “Oh, it’s a piece of junk because of this or that.” I just say, “Hey, I really like it, and here’s what I’m willing to pay.”

Joe Fairless: Doug, based on your experience as a real estate investor, what is your best real estate investing advice ever?

Doug Larson: I would say networking. They say it’s easier to make friends than money, and it’s easier to make money with friends. By friends – it doesn’t have to be the guys that you’re hanging out with every weekend, but when you network at real estate clubs and when you’re online on some of the forums and you’re making connections and contacts, people begin to see what you’re really like, and they know you, like you, trust you, and you can make deals happen.

Most of my other deals, my rentals and flips – it’s about relationships. I don’t really have to search very hard to find deals. I’m not out shaking the trees very much, because a lot of deals just seem to come my way as long as I’m networking, talking to people and telling people “Hey, I’m looking for a rental right now, under $150,000. I wanna be all in with repairs at 150k, but it needs to rent for about 1% of the purchase price… Like $1,600/month. It can be anywhere from this point to this point, this city to this city.”

I’m also looking for flips and I’ll go up to $350,000 or $400,000 on purchase price, so long as there’s $100,000 margin. As long as you’re specific like that, you get in front of somebody’s face and say, “Here’s what I’m looking for”, eventually stuff just comes your way.

Joe Fairless: If you’re at a real estate meetup that you are attending for the first time, you walk in the door, what’s your approach at the meetup?

Doug Larson: Good one. I think everybody is kind of like, “Hey, hi. What do you do? Hey, what’s your specialty? Hey, what are you looking for? What can I help you with?” and that’s kind of my emo as well. I come loaded with business cards, and sometimes I’ll circle a couple things. The business card says, “I buy land, I also like fix and flips”… I might actually write in pen on 20 business cards specifically what I’m looking for: “I want to buy now, under $350,000 flip” and almost like they took my card and wrote something on it for them to remember later.

I get a million business cards, but as you’re going back through your pockets when you clean them out, you’re like, “Oh, cool, here’s this guy. What was he looking for? Oh, it’s right here.” And then they can go, “Oh yeah, I do remember this guy… He did tell me that’s what he was looking for.”

Joe Fairless: That’s a great tip, thanks for sharing that. Are you ready for the Best Ever Lightning Round?

Doug Larson: Sure man, let’s do it.

Joe Fairless: Sweet. Alright, first a quick word from our Best Ever partners.

Break: [[00:19:47].07] to [[00:20:29].08]

Joe Fairless: What’s the best ever book you’ve read?

Doug Larson: Do I have to pick just one?

Joe Fairless: You’ll kill the format of my show if you don’t. [laughter]

Doug Larson: The Millionaire Next Door, The Progress Paradox and How Much Is Enough? Okay, I’m sorry, that was three.

Joe Fairless: You said them so fast! Give me one.

Doug Larson: How about The Progress Paradox?

Joe Fairless: Alright, I’m gonna put that on my list. What’s the best ever deal you’ve done?

Doug Larson: I think 2011 I was down in San Diego and I was working on one of those adventure flips I mentioned, and a real estate agent up here in Utah called me and said, “Hey, I’ve got this deal… It’s a land deal, I would totally buy it, but I’m a little capped out on cash right now, and they need cash and a quick close. Income property, $50,000; they’ve just dropped from 100k [unintelligible [00:21:15].11]” and I said, “Send me the info.” They sent it, I ended up buying it for 38k. A little bit of legwork, I found out some of its issues, [unintelligible [00:21:23].01] and things like that.

Long story short, I got all those things cleared up, I was all in for about $40,000. I sold it a year and a half later for 190k, so a pretty good flip.

Joe Fairless: Pretty good flip indeed, I love that! What’s the best ever way you like to give back?

Doug Larson: My wife and I have been adopted three times, by three awesome kids, and we give a lot of time and energy to them. We’re also pretty active in church, in helping and teaching adults and youth, so… It pretty much takes up all our time.

Joe Fairless: What’s the biggest mistake you’ve made on a deal, or just any mistake that comes to mind on a deal?

Doug Larson: On a deal… A specific deal, probably over-improving. The biggest mistake was believing the hype of 2002-2006 and that things were always going to go up. I think we all knew the music would stop somewhere, but just not how fast and how hard it was going to drop. I would say one particular deal – in buying into that hype, I invested in a condo up in Park City, and the wheels fell off during construction. I could either lose 25k earnest money, or just go all in. I went all in, and I lost close to 90k.

Joe Fairless: What do you do differently now?

Doug Larson: [laughs] Well, I wouldn’t buy that, that’s for sure. Again, it really is all about the numbers, and good, solid fundamentals. Make sure you’ve got cash flow, make sure you’ve got a plan A, plan B, plan C. Plan A – if it’s gonna be a flip, that’s great. If that doesn’t work, can you rent it? Can you lease-option it? Do you wanna live in it, maybe? What is your plan B? Plan C is “If I really had to get out of this thing really fast, with my lowest price, am I gonna lose my shorts? What are the other options? Can I wholesale it to somebody else? What are the other things?”

Have that all mapped out before you begin. If you know the fundamentals, it should tell you what to do.

Joe Fairless: Where can the Best Ever listeners get in touch with you, Doug?

Doug Larson: On LinkedIn, but I don’t really go there much, I’ll be honest. I’m on BiggerPockets, and I’m there at least a couple times a week. I’m giving some advice and talking to people, so if somebody wants to find me, they can find me there.

Joe Fairless: I have really enjoyed our conversation, as the focus has been — like you said earlier, your business has to work for you, not the other way around. We talked about your adventure flips, where you move your family for three months into a house five minutes from the beach. The move to Hawaii, the recreational property, the direct mail within that, how you acquired those five properties, and how you priced it out to offer the properties in the direct mail piece, as well as a networking tip, where you write in blue ink on the business card exactly what you’re looking for.
Doug, thank you for being on the show… Some interesting stuff, a different type of conversation than we usually have, and I’ve really enjoyed it. I hope you have a best ever day, and we’ll talk to you soon!

Doug Larson: Thanks, Joe. Good talking with you!

 

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real estate pro advice

JF846: Buy Out of State, Because Your Surrounding Market May Be a TERRIBLE Investment

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He bought homes not only out of state, he bought outside of his country! Today’s guest is a Canadian who fancies the long-term buy-and-hold wealth strategy. Be sure to understand his equation for purchasing a home and why he decided to purchase outside of his own country.

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Jeff Rombough Real Estate Background:

– Associate Realtor at The Real Estate Company/Mortgage Specialist at the Mortgage Resource Company
– Currently owns and manages 27 doors with rental incomes of just over 32K per month.
– Started investing in 1992 with $12,500 and has grown portfolio to over 4 million dollars
– Based in Calgary, Canada
– Say hi to him at www.Romboughproperties.com
– Best Ever Book: How to Win Friends and Influence People

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JF793: How He Bought a Rent Ready DUPLEX for $12,000!

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One man’s trash is another man’s treasure and that’s certainly what happened in this episode. Our guest picked up a $12,000 duplex because the previous owner was not as diligent with his systems of buying and holding. Hear how he provided quick solution for everyone in the transaction.

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Jim Sakalis Real Estate Background:

– Partner at Vash Investment Group
– Involved in more than 12,600 real estate transactions generating over 300 million in sales
– Over 20 years’ experience in real estate
– Based in Flint, Michigan
– Say hi to him at http://www.jimsakalis.com
– Best Ever Book: How to Win Friends and Influence People by Dale Carnegie

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Get a FREE strategy session with Dan Barrett who is the only certified Google partner that exclusively works with real estate investors like us.

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Best Ever Show Real Estate Advice from experts

JF792: How You Are Missing Out On THOUSANDS by Not Creating This Experience for Your Tenants

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Are you ready to 10 X your return? You are a few professional photographs and some excellent customer experience pointers away from maximizing your income from your cash flow properties. Today’s guest is a pro in creating the hotel or vacation experience for her residents. Hear how you can set it up in your own real estate business and why it definitely makes sense.

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Susan Colwell Real Estate Background:

– Principal Partner at TriStar Group, A Real Estate Investment Firm
– Host of Real Estate Investor Radio podcast
– Spent five years managing two successful vacation-rental companies
– Based in Baltimore, Maryland
– Say hi to her at http://tristarinvesting.com
– Best Ever Book: The Alchemist by Paulo Coelho

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Get a FREE strategy session with Dan Barrett who is the only certified Google partner that exclusively works with real estate investors like us.

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Best Ever Show Real Estate Advice from experts

JF720: Appraiser and Realtor Couple Make $8.5 MM Rental Portfolio

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A couple gets together to flip houses, and they created a podcast named the Spouses Flipping Houses show! He is an appraiser and she is a realtor and the rest is history. Hear how they build their large portfolio working together and how they were able able to secure financing, this couple is one to follow!

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Doug and Andrea Van Soest Real Estate Background:

–   Founders of Spouses Flipping Houses Show
–   Have 57 doors and have done over 300 deals
–   Based in San Diego, California
–   Say hi at spousesflippinghouses.com
–   Best Ever Book: Love Does by Bob Goff

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no fluff real estate advice

JF701: How to Buy a 4 Plex in CALI with LITTLE and NETWORK Your Way to Financial Freedom

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Find it difficult to get your foot in the door? Today’s guest did all he could to squeeze himself into a four Plex FHA deal, and he did it! It wasn’t great at first, but he worked at it, and in the end he grew the largest real estate meet up in San Francisco! Hear how he networked his way to wealth!

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J.Martin Real Estate Background:

– Founder of the San Francisco Bay Real Estate Networking Summit
– $1,000,000+ in high cashflow real estate
– Based in Oakland, CA
– Say hi to him sfbaysummit.com
– Best Ever Book: Rich Dad, Poor Dad by Robert Kiyosaki

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We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at http://www.fundthatflip.com/bestever.

Subscribe to Joe’s YouTube Channel here to learn multifamily and raising money tips:
https://www.youtube.com/channel/UCwTzctSEMu4L0tKN2b_esfg

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no fluff real estate advice

JF700: How You Should DIVERSIFY Your Income Streams in Real Estate

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Ever thought about being a property manager? Try being a landlord of multiple styles of homes, acquiring properties creatively, Property Management, and selling inventory! Today’s guest has dug himself deep in the roots of Fort Worth Texas where he can make multiple income streams, you are next!

Best Ever Tweet:

James Like Real Estate Background:

-Owner of Revolution Real Estate
-Sold over $30,000,000
-Based in Fort Worth, TX
-Say hi at jameslike.com
-Best Ever Book: Getting Things Done by David Allen

Listen to all episodes and get a FREE crash course on real estate investing at: http://www.joefairless.com

Made Possible Because of Our Best Ever Sponsors:

You find the deals. We’ll fund them. Yes, it’s that simple. Fund That Flip is an online lender that provides fast and affordable capital to real estate investors.

We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at http://www.fundthatflip.com/bestever.

Subscribe to Joe’s YouTube Channel here to learn multifamily and raising money tips:
https://www.youtube.com/channel/UCwTzctSEMu4L0tKN2b_esfg

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real estate advice podcast

JF 691: This Hassle Free Trick Creates HUGE Cashflows with Seller Financing

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Today’s guest is a pro when it comes to seller financing! He shares a tip with us on how to avoid a foreclosure when selling a home via seller financing. He is a powerhouse investor in the Phoenix market in his creative niche. Be sure to pay attention!

Best Ever Tweet:

Nate Tanner Real Estate Background:

– Owner of Hassle Free Houses; A seller finance company that currently has 60 homes  
– Full time real estate investor since 2006
– Specializes in seller financing
– Based in Tempe, AZ
– Say hi to him at hasslefreehouses.com

Listen to all episodes and get a FREE crash course on real estate investing at: http://www.joefairless.com

Made Possible Because of Our Best Ever Sponsors:

You find the deals. We’ll fund them. Yes, it’s that simple. Fund That Flip is an online lender that provides fast and affordable capital to real estate investors.

We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at http://www.fundthatflip.com/bestever.

Subscribe to Joe’s YouTube Channel here to learn multifamily and raising money tips:
https://www.youtube.com/channel/UCwTzctSEMu4L0tKN2b_esfg

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no fluff real estate advice

JF680: Your “Foot in the Door” Approach to REI and How to Find Your Path

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Today, Joe’s book author partner, Theo Hicks, shares his story and how he jumped into real estate. He shares his first encounter with Joe at Joe’s meet-up in Cincinnati and offered help. He took advantage of an FHA loan to purchase a duplex which would be his first investment. Hear about it here!

Best Ever Tweet:

Theo Hicks Real Estate Background:

– Co-author of the Best Real Estate Investing Advice Ever Book Volume 1
– Chemical Engineer Major from Ohio State University
– Host of the Unplugged podcast
– Based in Ohio
– Say hi at theohicks.org

Listen to all episodes and get a FREE crash course on real estate investing at: http://www.joefairless.com

Made Possible Because of Our Best Ever Sponsors:

You find the deals. We’ll fund them. Yes, it’s that simple. Fund That Flip is an online lender that provides fast and affordable capital to real estate investors.

We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at http://www.fundthatflip.com/bestever.

Subscribe to Joe’s YouTube Channel here to learn multifamily and raising money tips:
https://www.youtube.com/channel/UCwTzctSEMu4L0tKN2b_esfg

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no fluff real estate advice

JF672: Why This Investor Won’t Touch Single Family Homes Now

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Today’s guest is an accomplished real estate investor that purchases multi family properties including large multi family commercial zoned land. He shares his concern for having multiple exit strategies and why single-family resident purchases are not the best investments, hear his Best Ever advice!

Best Ever Tweet:

Rod Khleif Real Estate Background:

– Host of “The Lifetime Cash Flow Podcast”
– Participates in Tony Robbins seminars
– Started the Tiny Hands Foundation
– Based in Sarasota, Florida
– Say hi to him at: http://www.lifetimecashflowpodcast.com/

Listen to all episodes and get a FREE crash course on real estate investing at: http://www.joefairless.com

Made Possible Because of Our Best Ever Sponsors:

You find the deals. We’ll fund them. Yes, it’s that simple. Fund That Flip is an online lender that provides fast and affordable capital to real estate investors.

We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at http://www.fundthatflip.com/bestever.

Subscribe to Joe’s YouTube Channel here to learn multifamily and raising money tips:
https://www.youtube.com/channel/UCwTzctSEMu4L0tKN2b_esfg

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no fluff real estate advice

JF 666: How a C Corporation is Misunderstood, and Why You Need It

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Have a doubt about using C Corporations because of the double taxation possibility? That’s okay, today’s guest will shed some light on the entity and share its necessities, maybe you’ll adopt one soon?

Best Ever Tweet:

Clint Coons Real Estate Background:

– Real Estate Investor and Attorney
– Controls over $12 MM in real estate
– Specializes in asset protection
– Based in Tacoma, WA
– Say hi to him at andersonadvisors.com

Listen to all episodes and get a FREE crash course on real estate investing at: http://www.joefairless.com

Made Possible Because of Our Best Ever Sponsors:

You find the deals. We’ll fund them. Yes, it’s that simple. Fund That Flip is an online lender that provides fast and affordable capital to real estate investors.

We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at http://www.fundthatflip.com/bestever.

Subscribe to Joe’s YouTube Channel here to learn multifamily and raising money tips:
https://www.youtube.com/channel/UCwTzctSEMu4L0tKN2b_esfg

Subscribe in iTunes  and  Stitcher  so you don’t miss an episode!

Best Ever Show Real Estate Advice

JF618: Where She Found a $60,000 Duplex that Yielded $1,500 a Month!

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She is the TOP female real estate agent in her area and sells luxury properties with multi million volumes year after year! She purchased a duplex for $60,000 and earns a fabulous cap. rate. She speaks of gratitude and passion while being smart and investing in excellent school districts. Pull out a notepad and tune in!

Best Ever Tweet:

Victoria Valle real estate background:

  • Been a real estate agent since 1999 and has been voted best realtor in 2015 by the Toledo City Paper
  • In the top 1% of all agents in NW Ohio and top female agent in the area
  • Say hi to her at luxuryhomesintoledo.com
  • She invests in residential real estate in the Toledo area
  • Based in Toledo, Ohio
  • Best Ever book: Halftime by Bob Buford

Please Take 4 Min and Rate and Review the Best Ever Show in iTunes. 

Listen to all episodes and get a FREE crash course on real estate investing at: http://www.joefairless.com

Do you need more leads for your real estate business and a platform to grab more leads?

Danny Johnson has a solution for you, go to leadpropeller.com set up your website for success and get more leads!

Subscribe to Joe’s YouTube Channel here to learn multifamily and raising money tips:
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JF505: This Lender Closed a Deal for a Client that was Denied 24 Hours Prior!

Price? Cost of rehab? Retail sales price after rehab? He asks these questions to his clients hoping to qualify for a quick loan. His best move was moving to California, and there he found the hard money industry. As a hard money lender, he has made some tough decisions, but one of them turned out well…and was made in 24 hours!

Best Ever Tweet:

Ben Stoodley (stood-ley) real estate background:

  • Civil Engineering grad turned real estate sales person turned investor and hard money lender
  • He’s a loan originator and did over 100 loans in 2015 averaging about $1M a month on average
  • Active real estate investor as both a buy and hold and fix and flip
  • Based in San Diego, California and say hi to him at lantzmanlending.com
  • His Best Ever book recommendation: Four Hour Work Week by Tim Ferriss

Made Possible Because of Our Best Ever Sponsors:

Please Take 4 Min and Rate and Review the Best Ever Show in iTunes. . 

You find the deals. We’ll fund them. Yes, it’s that simple. Fund That Flip is an online lender that provides fast and affordable capital to real estate investors. We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at http://www.fundthatflip.com/bestever.

What’s the Best Ever health plan for YOU?

Go to http://www.stridehealth.com/bestever and find a better health plan in 10 minutes or less. On average you’ll save $418 on coverage and care.

Listen to all episodes and get a FREE crash course on real estate investing at:http://www.joefairless.com

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JF475: His First Purchase was 2 HOMES!

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Our Best Ever guest loves putting deals together. He is not a fan of the accounting, paperwork, and admin…so he handed off those duties and fulfilled his passion. He buys and sells SFR’s and is diving into multi family syndication. Hear his words!

Best Ever Tweet:

Nathan Brooks’s Real Estate Background:

  • Real estate investor in Kansas City, Missouri
  • Been investing for nearly 10 years and is mainly a buy-and-hold investor
  • Owns his own property management company
  • This year he will likely rehab and hold about 50 properties
  • Say hi to him at http://bridgequity.com/
  • Been a professional musician most of his adult life

Listen to all episodes and get a FREE crash course on real estate investing at:http://www.joefairless.com

Subscribe in iTunes  and  Stitcher  so you don’t miss an episode!

Made Possible Because of Our Best Ever Sponsors:

You find the deals. We’ll fund them. Yes, it’s that simple. Fund That Flip is an online lender that provides fast and affordable capital to real estate investors. We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at http://www.fundthatflip.com/bestever.

What’s the Best Ever health plan for YOU?

Go to http://www.stridehealth.com/bestever and find a better health plan in 10 minutes or less. On average you’ll save $418 on coverage and care.

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JF473: How to Negotiate with a Solar Company #situationsaturday

Jumping through hoops to buy a fix and flip, our Best Ever guest ran a marathon to get through the seller, agent, and the solar company. He desired to net $80,000 profit and went back and forth with the angry seller to lock in his price. It didn’t stop there, he then had to work with the solar company to figure monthly expenses…or he could buy out the lease…hear the situation!

Best Ever Tweet:

Eric Stutz’s real estate background:

  • Based in Long Island, New York
  • Full time real estate investor and licensed real estate broker
  • Banker by trade and used to work for JPMorgan Chase in the MBS Department
  • Also a buy and hold investor
  • Has done student housing, fix and flips and participated in syndicated deals
  • He averages between $75,000 – $80,000 per flip
  • Hear his Best Advice Ever here: https://joefairless.com/blog/podcast/jf405-banker-goes-flippin-crazy/

Listen to all episodes and get a FREE crash course on real estate investing at: http://www.joefairless.com

Please Take 4 Min and Rate and Review the Best Ever Show in iTunes. . 

Subscribe in iTunes  and  Stitcher  so you don’t miss an episode!

Made Possible Because of Our Best Ever Sponsors:

You find the deals. We’ll fund them. Yes, it’s that simple. Fund That Flip is an online lender that provides fast and affordable capital to real estate investors. We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at http://www.fundthatflip.com/bestever.

What’s the Best Ever health plan for YOU?

Go to http://www.stridehealth.com/bestever and find a better health plan in 10 minutes or less. On average you’ll save $418 on coverage and care.

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JF470: What This Partnership Did to go from $0 to $25 Million in 3 Years

A three step repositioning program is what you’ll need to take a poorly maintained multifamily to a healthy market rate cash cow! Our Best Ever guests are putting multifamily deals together and adding value to C class units. There are many ways to raise money and they share their methods. Be sure to hear them now!

Best Ever Tweet:

Gino Barbaro and Jake Stenziano’s real estate background:

Listen to all episodes and get a FREE crash course on real estate investing at: http://www.joefairless.com

Please Take 4 Min and Rate and Review the Best Ever Show in iTunes. . 

Subscribe in iTunes  and  Stitcher  so you don’t miss an episode!

Made Possible Because of Our Best Ever Sponsors:

You find the deals. We’ll fund them. Yes, it’s that simple. Fund That Flip is an online lender that provides fast and affordable capital to real estate investors. We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at http://www.fundthatflip.com/bestever.

What’s the Best Ever health plan for YOU?

Go to http://www.stridehealth.com/bestever and find a better health plan in 10 minutes or less. On average you’ll save $418 on coverage and care.

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JF420: How Your Cubicle JOB Could Lead You to REI SUCCESS!

Coming from Corporate America, our Best Ever guest uses his systems knowledge and applies it to his real estate business. He sets up Excel spreadsheets with built in flip formulas…all he needs are the numbers! His main squeeze is the “buy and hold” method in the Kansas City market. He is looking for value-add properties that fit his passive criteria. He also is looking to help new investors jump into the game at various levels…hear his Best Ever advice to improve your game!

Best Ever Tweet:

Matt Orf’s real estate background:

  • Full time investor focused on buy and hold portfolio and fixing and flipping
  • He has 5 rental properties and has done 3 flips and done wholesale deals
  • Based in Kansas City, Missouri
  • Certified Six Sigma Black Belt
  • Say hit to him at http://www.carboniteproperty.com

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Made Possible Because of Our Best Ever Sponsors:

You find the deals. We’ll fund them. Yes, it’s that simple. Fund That Flip is an online lender that provides fast and affordable capital to real estate investors. We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at http://www.fundthatflip.com/bestever.

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JF415: How a Niche Strategy + Focus = Success!

Canadian blogger, consultant, and active investor sheds light on his real estate investing niche…distressed and undervalued properties, including townhomes and condos! He was able to collect these value-add properties and later “cash out” refinance the portfolio. Our Best Ever guest owns over $4MM in Canadian inventory and is planning to boost his portfolio into the multi-family field. Hear his Best Ever advice that you were NOT expecting!

Best Ever Tweets:

 

Elias Zeekeh’s real estate background:

  • Professional real estate investor, consultant, and blogger
  • He is highly skilled in identifying undervalued properties and in renovation project management
  • Based in Ontario, Canada
  • Owns more than $4,000,000 property
  • Say hi to him at http://www.axuminc.ca  

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Made Possible Because of Our Best Ever Sponsors:

You find the deals. We’ll fund them. Yes, it’s that simple. Fund That Flip is an online lender that provides fast and affordable capital to real estate investors. We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at http://www.fundthatflip.com/bestever.

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JF414: His SECRET Exit Strategy of a Fix and Flip

It’s not that secret…

He recommends that all investors work with a highly seasoned real estate agent. Our Best Ever guest has completed most types of transactions including fix/flip, “subject to”, buy and hold, and other creative tactics. He is an advocate of multiple exit strategies when a flip doesn’t go according to the plan…and you have to hear his tip if you’re not able to find an end buyer. Tune in!

Best Ever Tweet:

JJ Pawlowski’s real estate background:

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Made Possible Because of Our Best Ever Sponsors:

You find the deals. We’ll fund them. Yes, it’s that simple. Fund That Flip is an online lender that provides fast and affordable capital to real estate investors. We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at http://www.fundthatflip.com/bestever.

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JF 392: You’re Missing Out Without Condos in Your Portfolio

He invests in properties most investors won’t touch…condos. Our Best Ever guest is an advocate of LOW maintenance, and for that reason condos fit his criteria. He shares the 1% rule with the Best Ever listeners and how he vets prospective deals before pulling the trigger. Hear where his goals are taking him and hold onto your seat when you hear his passive cash flow vision!

 

Best Ever Tweet:

 

 

Russell Brazil’s real estate background:

 

  • Realtor with Long and Foster based in Maryland, DC, and Virginia
  • Buy and hold investor specializing in condos but also owns single family homes, multifamily homes and townhomes
  • Occasionally flips homes as well
  • Based in Rockville, Maryland which is a suburb of Washington DC
  • He’s a 3rd generation motorcycle rider
  • http://www.russellbrazil.lnf.com  

 

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Made Possible Because of Our Best Ever Sponsors:

 

Patch of Land – Could you do more deals if you had more money? Let the crowdfunding platform, Patch of Land, find investors for you and fund your next deal…and your next deal…and your next deal…and…well, just go find out more at http://www.PatchOfLand.com

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JF374: CHALLENGE! Stick to it for 90 Days #followalongfriday

Excited for a new goal, idea, or inspiring concept? Take Joe’s advice to go a step further than “eureka!”…create an action plan! Joe shares his experience developing the Best Ever show; from a few downloads, to now over 500,000, he expresses the importance of a well-constructed plan. You too can create and build anything from square one, and as a matter of fact, Joe wants to hear about it! Pull out a pen and 90 page notepad…Joe has a challenge for you, and we all want to know your results!

 

 

 Best Ever Tweet:

 

 

 

 

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Made Possible Because of Our Best Ever Sponsors:

 

Patch of Land – Could you do more deals if you had more money? Let the crowdfunding platform, Patch of Land, find investors for you and fund your next deal…and your next deal…and your next deal…and…well, just go find out more at http://www.PatchOfLand.com

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JF373: How She Bought a Condo UNEMPLOYED!

Cash flow is KING! Our Best Ever guest is creative, which is why she was able to make the cash FLOW from start to finish in a hot market! She shares her Mid-West flips, locally owned acquisitions, and her most exciting project that will transform an old retail building into a unique space you wouldn’t have expected…tune in!

Best Ever Tweet:

Micki McNie’s real estate background:

             

  • Real estate investor who focuses on buy and holds, rehabs, and note buying
  • Started career as a tenant rep for commercial leases then moved to help clients buy and sell residential properties
  • Based out of Denver, Colorado
  • 33 Zen Lane
  • Say hi to her at www.33zenlane.com

     

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Made Possible Because of Our Best Ever Sponsors:

Patch of Land – Could you do more deals if you had more money? Let the crowdfunding platform, Patch of Land, find investors for you and fund your next deal…and your next deal…and your next deal…and…well, just go find out more at http://www.PatchOfLand.com

 

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JF 358: How to Put the WOW Factor Into Houses You’re Flipping

Today’s Best Ever guests share with us how to put the WOW factor into the houses you’re flipping, and how to determine land value. Listen up, because they both have tremendous value to share.

Best Ever Tweet:

It’s a matter of rolling your sleeves up and doing some of that data mining.

Josh Collins and John Sears’ real estate background:

–           Business partners for 9 years

–           Based in Charlotte, North Carolina

–           Real estate companies, home renovations and new construction

–           Buy and hold, flip, multifamily

–           Say hi to them at http://www.Moosemojo.com, a branding and marketing agency

–           http://www.prespro.com

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Made Possible Because of Our Best Ever Sponsor:

Patch of Land – Could you do more deals if you had more money? Let the crowdfunding platform, Patch of Land, find investors for you and fund your next deal…and your next deal…and your next deal…and…well, just go find out more at http://www.PatchOfLand.com

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JF325: If You Use an Agent, Make Sure They Know THIS

Today’s Best Ever guest, may be a long ways away in beautiful Montana, but she sure as heck isn’t out of touch with real estate. She shares with us the thing that you need to make sure your agent knows before buying, and how she has come to obtain her investment properties.

Best Ever Tweet:

 

Nancy Brooks’ real estate background:

-Invests virtually and owns 15 properties with her boyfriend

-Experienced with buy and hold properties, wholesales, rehabs and vacation rentals

-Say hi to her at http://www.propertyadventure.com

-Based in Billings, Montana

-Wrote award winning book called “Cycling Wine and Men: A Midlife Tour De France”

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Made Possible Because of Our Best Ever Sponsors:

Patch of LandWant to learn more about crowdfunding? Let the leading expert in the crowdfunding space, Patch of Land, give you all the info you need to get started. Grab your FREE copy of Top Ten Answers to the Top Ten Crowdfunding Questions athttp://www.PatchOfLand.com/bestever

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JF307: Your Guide To Making $97,000 in 97 Days

Today’s Best Ever guest isn’t a guy to be messed with, however his investing advice is invaluable. We discuss how he gets deals from ‘raggety’ houses, what he uses to evaluate deals and the best ever way to co-mingle funds.

Best Ever Tweet:

Elvin Ames’ real estate background:

–          Real estate investor at  Golden Eye Investments LLC

–          Currently in NYU Masters program for Real Estate Development

–          Done over 70 fix and flips and is a licensed real estate broker in NJ and Relator in NYC

–          Former US Marine Infantry Sergeant and 5-time Marine Corps Rifle expert

–          Based in Newark, NJ

–          Owns 12 rental properties as buy and hold investments

–          Originally from Barbados, West Indies – came to US when he was 17

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Made Possible Because of Our Best Ever Sponsor:

Patch of Land – Want to learn more about crowdfunding? Let the leading expert in the crowdfunding space, Patch of Land, give you all the info you need to get started. Grab your FREE copy of Top Ten Answers to the Top Ten Crowdfunding Questions athttp://www.PatchOfLand.com/bestever

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JF291: How Getting Kicked Out of College Led to a Lucrative Real Estate Career

Today’s Best Ever guest has SO many stories to share, and they include having his credit stolen, and buying stolen properties! Phew, I’m anxious after conducting this interview I can’t even imagine going through it! Listen up, because he shares with us all about hard money lending, and why he will absolutely lend to first time investors.

Best Ever Tweet:

Rod Stanback’s real estate background:

–          Owner of Flip Funding LLC which is a hard money lender which does over $20M of funding annually

–          Owner of over $1M in real estate holdings and acquires 4 buy and holds annually

–          Don’t get in a fight with him either! His favorite hobby is boxing.

–          Based in Philadelphia, Pennsylvania

–          http://www.Flipfunding.com

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Made Possible Because of Our Best Ever Sponsor:

Patch of Land – Want to learn more about crowdfunding? Let the leading expert in the crowdfunding space, Patch of Land, give you all the info you need to get started. Grab your FREE copy of Top Ten Answers to the Top Ten Crowdfunding Questions athttp://www.PatchOfLand.com/bestever

Cozy – Are you still chasing down rent checks down?? Cozy, automates the whole process for you so you can avoid all of the hassles that come with being a landlord. Say hi to them at cozy.co

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JF270: The Best Way to Approach Your Goals In Order to Close More Deals

I know I’ve wondered what professional athletes do after their sports career ends. Today’s Best Ever guest shares with us how he came to find real estate success after his pro sports career ended. We discuss buy and holds, and different ways he creatively finances his deals. So listen up, because we are about to win the Lord Stanley of real estate investing!

Best Ever Tweet:

Graham Mink’s real estate background:

–          Played professional hockey for 13 years and played for the Washington Capitals

–          Retired in 2014 and is now a full time real estate investor primarily doing buy-and-holds

–          Owns and manages 28 units and has 20 more units under contract and scheduled to close July 4th

–          Based in Stowe, Vermont

–          Say hi to him at  http://www.gmmvt.com

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Made Possible Because of Our Best Ever Sponsor:

Patch of Land – Want to learn more about crowdfunding? Let the leading expert in the crowdfunding space, Patch of Land, give you all the info you need to get started. Grab your FREE copy of Top Ten Answers to the Top Ten Crowdfunding Questions athttp://www.PatchOfLand.com/bestever

The Book On Flipping Houses – Are you looking for a step by step guide for starting your flipping career? Head on over to Amazon to pick up The Book On Flipping Houses by professional house flipper J Scott.

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Best Ever Show Real Estate Advice

JF263: She Went From Homeless to Having a Multi-Million Dollar Portfolio in TWELVE MONTHS. How’d She Do It?!?

She has an incredibly inspirational story, but that’s not all! Today’s Best Ever guest shares with us her rocky road to success, how important relationships are and some impractical ways to generate leads you may not have heard of before. You’ll go from eating Ramen Noodles to eating caviar if you listen to her story and take some action!

Best Ever Tweet:

More than anything else, our mindset controls our situation.

Kemi Egan’s real estate background:

–          Author of international bestseller The Power of Real Estate Investing based in London, England

–          Host of Turbo Charge Your Success podcast

–          Co-founder of Freedom Academies and Freedom Investment

–          Went from homeless to having a multi-million dollar real estate portfolio in just 12 months

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Made Possible Because of Our Best Ever Sponsor:

Patch of LandWant to learn more about crowdfunding? Let the leading expert in the crowdfunding space, Patch of Land, give you all the info you need to get started. Grab your FREE copy of Top Ten Answers to the Top Ten Crowdfunding Questions athttp://www.PatchOfLand.com/bestever

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JF261: How to Leverage People to Get the MOST Out of Your Investing

People, people, people. Whether you are a newbie, or an experienced investor relationships are going to be the one thing that will make or break you. Listen up, as today’s Best Ever guest shares with us how to build and maintain incredible relationships, and how to find cheap deals to make CRAZY money.

Best Ever Tweet:

Che Chiu Wong’s real estate background:

–          Has a multi-million dollar portfolio and buys and never sells

–          Has an electricial engineering degree but doesn’t know how to fix an electrical outlet

–          Landlord in Jersey City, NJ focusing on residential properties

–          Say hi to him at  http://www.realestatedoer.com/ 

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Made Possible Because of Our Best Ever Sponsors:

Patch of Land – Want to learn more about crowdfunding? Let the leading expert in the crowdfunding space, Patch of Land, give you all the info you need to get started. Grab your FREE copy of Top Ten Answers to the Top Ten Crowdfunding Questions athttp://www.PatchOfLand.com/bestever

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JF248: Dean Graziosi Shares His Best Real Estate Investing Advice Ever

Phew! If we aren’t excited after all of the great value Dean shared with us today, we are doing something wrong! Today, Dean shares with us how to find cheap deals in your area, how to pick the Best Ever place to invest, and how he made ONE MILLION dollars off a deal everyone told him he would go broke on. Get out a pen and paper because we are in for a treat today!

Best Ever Tweet:

Dean Graziosi’s real estate background:

–          Been investing over 25 years and real estate investing expert who has authored multiple NY Times best-selling books based in Scottsdale, Arizona

–          He practices and educates other investors on wholesaling, buy-and-hold, and fixing and flipping properties

–          One of his first investments was buying and fixing up a rundown apartment building with no money down in his hometown

–          Visit him at http://www.deangraziosi.com/

–          Loves being a father more than anything in the history of the world

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Norada Real Estate Investments – Having a hard time finding great investment properties?  Unfortunately, the best deals are rarely found locally. Norada Real Estate’s simple proven system provides you with the best deals across the U.S. to create wealth and cash-flow.  Get your FREE copy of The Ultimate Guide to Out-of-State Real Estate Investing

Patch of LandWant to learn more about crowdfunding? Let the leading expert in the crowdfunding space, Patch of Land, give you all the info you need to get started. Grab your FREE copy of Top Ten Answers to the Top Ten Crowdfunding Questions athttp://www.PatchOfLand.com/bestever

Youth Nation – How much do you really know about your clients? With milenials taking over the real estate market place, YOU need to learn about them. Read Youth Nation by Matt Britton to learn all you need to know.

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JF245: You Better Be Nice to Your Banker If You Want Them to do THIS…

Years of building relationships, and proving he walks the walk led today’s Best Ever guest to get his properties 100% financed. What did he do? Well, ya better listen up because it could very well be the way YOU finance your next property.

Best Ever Tweet:

Jimmy Moncrief’s real estate background:

–          Founder of Real Estate Finance HQ based in Chattanooga, Tennessee

–          Has about 30 buy and hold rental properties

–          Former stock analyst and hedge fund partner at Fortune 500 company

–          Say hi to him at http://realestatefinancehq.com/

–          He has tried every one of Ben and Jerry’s flavors

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Made Possible Because of Our Best Ever Sponsors:

Norada Real Estate Investments – Having a hard time finding great investment properties?  Unfortunately, the best deals are rarely found locally. Norada Real Estate’s simple proven system provides you with the best deals across the U.S. to create wealth and cash-flow.  Get your FREE copy of The Ultimate Guide to Out-of-State Real Estate Investing

Patch of LandWant to learn more about crowdfunding? Let the leading expert in the crowdfunding space, Patch of Land, give you all the info you need to get started. Grab your FREE copy of Top Ten Answers to the Top Ten Crowdfunding Questions athttp://www.PatchOfLand.com/bestever

Youth Nation – How much do you really know about your clients? With milenials taking over the real estate market place, YOU need to learn about them. Read Youth Nation by Matt Britton to learn all you need to know.

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JF227: The COMPLETE Guide to Investing in Single-Family Properties

In an airport bookstore at a low point in her life, today’s Best Ever guest experienced a life changing moment. Learn what was so special about that ONE moment, how to determine the best market for your next deal, and why she conducted her first deal sitting on a box. Listen up, because she doesn’t only share incredible investing advice, she shares motivational life advice.

Best Ever Tweet:

Tamera Aragon’s real estate background:

–          Investing since 2003 and invested in hundreds of properties

–          She is based in Stockton, California

–          Done ground-up development, wholesale, fix and flip, buy and hold `

–          Founded her first multi-million dollar company when she was 20

–          Say hi to her at http://www.reiposse.com

–          Learn more about Locator Gold and Tamera’s Getaway Experience 

Tamera’s Best Ever websites for determining a good market:

–          Mortgage Rates

–          Unemployment Rates

–          Federal Housing Finance Agency House Price Index (HPI)

–          Foreclosure Trends

–          Real Estate Investing News

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Made Possible Because of Our Best Ever Sponsors:

Norada Real Estate Investments – Having a hard time finding great investment properties?  Unfortunately, the best deals are rarely found locally. Norada Real Estate’s simple proven system provides you with the best deals across the U.S. to create wealth and cash-flow.  Get your FREE copy of The Ultimate Guide to Out-of-State Real Estate Investing

Patch of Land – Want to learn more about crowdfunding? Let the leading expert in the crowdfunding space, Patch of Land, give you all the info you need to get started. Grab your FREE copy of Top Ten Answers to the Top Ten Crowdfunding Questions at http://www.PatchOfLand.com/bestever

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JF206: Tips for Using the MLS to Find Deals

Today’s Best Ever guests share with you how they find their properties on the MLS. Plus, they share their business model of fixing, flipping then reinvesting the profits back into buy-and-hold properties.

Best Ever Tweet:

Michael Noto and Bill Labrecque’s real estate background:

–        Michael is a licensed relator based in Hartford, Connecticut

o   10 years as a landlord, rehabber and investor-friendly realtor

o   Co-founder at NEICO

–        Bill – cofounder, at NEICO

o   Manages properties, flips them and invests in them

§  Has 70 properties under management

§  Owns 7 properties

§  Flipped 7 properties

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Sponsored by Patch of Land – Could you do more deals if you had more money? Let the crowdfunding platform, Patch of Land, find investors for you and fund your next deal…and your next deal…and your next deal…and…well, just go find out more at http://www.PatchOfLand.com

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JF116: Let’s Get Your Company Ranked High in Google Searches

Online marketing is necessary so we might as well get good at it, right? Today’s Best Ever guest shares with you his expert tips for ranking high in Google searches and being an overall savvy online marketer for your real estate company.

Tweetable quote:

Trevor Mauch’s real estate background:

–        Started investing in college and bought a 4-plex

–        He’s a buy-and-hold investor with a specialty of growing online companies

–        CEO and co-founder of Investor Carrot based in Roseburg, Oregon

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Sponsored by: Twenty Four Sound – visit http://www.twentyfoursound.com and mention “bestever” for an exclusive 20% discount on your purchase.

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JF97: Outsourcing 2.0

Ever wanted to delegate some tasks? Today’s Best Ever guest tells you how to outsource your business so you can hire team members to do the stuff that you don’t want to do.

Tweetable quote:

David Oswald’s real estate background:

–        Done over 350 total short sale, wholesale deals and buy and hold deals

–        Founder of Rivers of Income, LLC and based in Hillside, NJ

–        Been investing for about 12 years and owns multiple investment properties in NJ and in Central Florida

–        Author of 101 Ways to Outsource Your Life and Business

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Sponsored by: Twenty Four Sound – visit www.twentyfoursound.com and mention “bestever” for an exclusive 20% discount on your purchase.

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JF 93: Ya Betta Put this Clause in Your Condo Conversion Contract

Today’s Best Ever guest shares with you a hard lesson he learned during a condo conversion project and the single clause you should include in your contract to avoid the same pitfalls. He has also successfully built a real estate empire and shares how he structures his deals with investors.

Tweetable quote:

Can’t fly with the eagles if you scrape with the turkeys.

Kevin Mohr’s real estate background:

–        Founder of The Titan Investment Group, company is focused on acquisition of income producing single and multi-family properties

–        Implemented fix-and-flip, wholesale and buy-and-hold strategies

–        Controls over $3,000,000 in investment properties

–        Based out of Jersey City, NJ and been investing over 13 years

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Sponsored by: Twenty Four Sound – visit http://www.twentyfoursound.com and mention “bestever” for an exclusive 20% discount on your purchase.

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