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JF977: Commercial Loans 101!

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He wrote a book all about it, so today get your notes ready for commercial loans. From being approved to closing the deal you will understand what lenders are looking for in this niche.

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Michael Reinhard Real Estate Background:

– Commercial Mortgage Banker at Texas Commercial Mortgage, LLC
– Author of successful book Commercial Mortgages 101: Everything You Need to Know to Create a Winning Loan Request Package
– Masters Degree in Land Economics & Real Estate from Texas A&M
– Based in Houston, Texas
– Say hi to him at www.texascommercialmortgage.com
– Best Ever Book: Hamilton

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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, Michael Reinhard. How are you doing, Michael?

Michael Reinhard: I’m good, thanks.

Joe Fairless: Nice to have you on the show. A little bit about Michael – he is a commercial mortgage banker at Texas Commercial Mortgage. He is the author of the book Commercial Mortgages 10Joe Fairless: Everything You Need To Know To Create a Winning Loan Request Package.

He’s got his masters degree in land economics and real estate, and he is based in Houston, Texas. With that being said, Michael, do you wanna give the Best Ever listeners a little bit more about your background and your focus?

Michael Reinhard: Yes, Joe. As you mentioned, I received my masters degree in 1989, and I immediately began my career working for savings and loans in the REO department. At that time the savings and loans crisis was at its pinnacle, and basically there’s no lending on real estate in Texas for the most part. I kind of cut my teeth on commercial real estate by analyzing the cash flow, the assets of the bank that were basically in the [unintelligible [00:03:34].20]  to get sold. It was the mandate by the Resolution Trust Corporation – the RTC acronym that most people are familiar with that are probably in their 40s and 50s.

That’s where I really learned the analysis of cash flow for all types of properties, so it was a good, well-rounded, quick education in all types of commercial properties. It was from multifamily, to office, to warehouse, industrial, self-storage and even MUD receivables.

Joe Fairless: What are MUD receivables?

Michael Reinhard: MUD is an acronym for Municipal Utility District. For example, if you’re outside a subdivision and a growing community is outside the reach of the main city’s water facilities… It’s almost like a privately-run organization to provide water lines to the community. Usually the taxes are a lot higher. There’s like a board — it’s kind of like a quasi-government agency that’s privately run and provides the utilities to that area because the city hasn’t been able to get out that far.

I don’t know exactly how they were set up or the history of them, but when the developer would develop a subdivision for single-family homes (or even a multifamily property), you’ve gotta go to the MUD board to get a approval for the capacity you’ve got, to determine if there’s enough capacity to build  a 200-unit apartment complex. You’d have to get the board to vote on it. There were some politics involved… But when you do that — and let’s say… Because I mentioned that at the bank, when the savings and loans crisis hit, and the recession, a lot of these subdivisions were abandoned, and there was a lot of money spent on these water utility — I don’t know if they were just water taps, or sometimes water plants or water pumps that were just sitting out there… They had value; the bank owned those, and we were just trying to determine what the value of those was at the time. That was kind of interesting.

With that said, in the early ’90s there were a lot of ex bankers, a lot of ex real estate people in the late ’80s or the ’90s that were working these different failed savings and loans; they were all being propped up by the selfless bailout government financial rescue… So when all the assets were sold, everybody was kind of losing their jobs, worked themselves out of the job, so there’s just a lot of real estate, analyst people in 1993-1994, and then we had another recession in ’94… That’s when I transitioned into working as an analyst on the mortgage banking side, because around ’94, ’95 this new conduit lending – it’s called the CMBS Loan… CMBS is a commercial mortgage-backed security; it’s the same thing as a residential MBS… That was kind of a new vehicle to provide commercial real estate loans to commercial property investors.

I started off as an analyst at a large commercial real estate firm called [unintelligible [00:06:33].15] which is a national firm… That’s where I had to shift a little bit my real estate career from just more of an analyst and selling assets to now getting on the mortgage side.

It was a good move, and I learned the conduit lending along with Fannie Mac and Freddie Mac agency lending… I spent years as an analyst, an underwriter, working for various banks like Bank of America, John Hancock Life, and some other smaller Texas banks… Then I finally decided in 2009 when the great financial crisis hit – of course, so many people got laid off, there just wasn’t any lending – to take all the expertise I had, venture out as an independent commercial mortgage banker. That’s when I wrote the book.

That’s kind of the genesis of my current position as a commercial mortgage banker, because I’ve spent years and years as an analyst, underwriter, and I felt at that point there’s no place to go at the bank. I was never really an executive or a major stockholder of a bank, so I thought there’s really not much more for me to do or contribute at a bank, and I would prefer to be able to help investors with all types of financing.

As a broker, if one bank says no, then I just go to the next bank or the next type of lender… So it’s more exciting, it’s more challenging. Every deal is different, there’s not one commercial real estate loan that’s alike, unless you’re doing the same old cookie-cutter Fannie Mae loan. That’s how I came about working for myself; I’ve got clients in California, in Florida, in Texas, I’m doing some loans in Indianapolis… I can do loans nation-wide.

I normally don’t do anything in California, because there’s just an inordinate number of brokers there, and I don’t really know the market in California. It’s a different market, and there are some licensing requirements. Texas is big enough, there’s plenty of real estate here.

Joe Fairless: Yes, there is, that’s for sure. I have purchased your book right before we got on the call… I bought your book “Commercial Mortgages 101: Everything You Need To Know To Create a Winning Loan Request Package.” I’m very intrigued by this, and I’d like to spend some time talking about the content of your book.

For a Best Ever Listener who has some single-family home properties and maybe a small multifamily property, but now they wanna go a little bit larger, and for the sake of simplicity, let’s say it’s multifamily… They wanna go a little bit larger to, say, a 20-30 unit property. What do they need to know about commercial loans, in particular as it relates to getting a package together for the lender?

Michael Reinhard: The first thing I’d like to emphasize is that a commercial real estate loan is an entirely different industry than a residential loan… A residential loan meaning either a homeowner loan or even a 1-4 family, whether it’s a duplex, triplex or fourplex. Everything you know about and any experience you have with that type of loan – forget about it. Don’t even try to make a comparison. It’s a different industry. So when you’re attempting to buy a 5-unit, or a 10-unit, or a 20-unit, as you’ve suggested, often times you have to deal with a local bank or maybe a national apartment lender.

Credit scores, for example, would be the first place to start. It’s always good to have a good credit score. It’s not all that critical, where residential mortgages it’s almost like it literally hinges on your credit score only, and of course income, but with commercial real estate loans credit score is not the top consideration, it’s not the most important. Then the next thing that a lender would like to see in an investor is net worth and liquidity. Net worth is, obviously, the difference between your assets and liabilities, and they like to see a net worth equal to or greater than the loan amount.

If you’re wanting to buy a $1,250,000 apartment building – I always like to use that number – in an 80% loan, to be a million dollar loan, they would like to see your net worth equal to a million or more. It is not always the rule that you have to have a million dollar net worth; you could have $800,000, $600,000… Because if you have a lot of income, if you have a good income, if you have a high salary or a W2 salary, or you’re self-employed and you make a lot of money, net worth is not all that important. There’s some mitigation for the net worth.

Then the liquidity is really important. Yes, you have to have enough money to put down; in that situation you’d need $250,000 to put down… But if that’s gonna use up all your cash, just to get into that deal, the lenders will look upon that as a little weary, because you have no cash left. They don’t like to see someone use up all their cash after a closing and then not have anything for an emergency such as a $10,000-$20,000 deductible for an insurance claim; let’s say you have a fire immediately after you purchase the apartment building – which has happened to one of my clients; within 3-4 weeks he had  a fire after just closing on a 44-unit apartment complex. He had to make a claim, and the lender wants to know that you have enough cash to make the claim and get the property fixed, and get it re-leased, or re-tenanted and cash-flowing, sufficient enough so it doesn’t put your payments in jeopardy and putting any hardship on you.

Joe Fairless: What type of liquidity do they look for?

Michael Reinhard: It varies between lenders. The general rule is 10%-20% of the loan amount. If you’re wanting to borrow a million dollars, you have to have at least $100,000 after closing; $150,000 or $200,000 is even better. Sometimes they use 6-12 months’ worth of principal and interest payment. If your mortgage payment was, say, $10,000 a month, they’d like to see $120,000 or so in liquidity. Those are the general rules.

Then the next would be ownership experience. Owning a duplex, or three or four single-family rentals, or maybe 10 or 12 (you could even have 30 of them) – that’s even better if you have a large portfolio of single-family rentals. But if you’ve only had one or two, and maybe a couple of duplexes, that’s not the same as a multifamily, because it’s a little bit different animal.

Anywhere between 5 up to maybe 50 units – they pretty much allow you to self-manage the property because there’s not a lot of third-party management companies that would want to take on a management of that size; it’s just too small and they don’t make enough money to do it.

Because the lender knows that it’s difficult to find a third-party management company and they know that the investor will be attempting to manage the properties themselves, they want to see “Hey, what do you know about leasing, and doing the credit checking, verifying employment and background, the criminal background?” and just qualifying tenants and management of the property. They’re gonna wanna know if you have some experience in managing the property. You could have owned properties and had some third-party management – that’s fine, too.

So ownership experience and management experience. Ownership experience is a little bit more important than management because they know not everybody manages their own property and it’s not that important.

So those are the five: net worth, liquidity, ownership experience and management experience, credit score  – that’s six. Income, in terms of whatever you are – a W2 employee or self-employed… They also wanna know if you have a portfolio of properties; they wanna look at your global cash flow, how much cash you earn after debt service… Because any excess cash flow after debt service meaning you’ve got your net operating income, then you have a principal and interest payment to the lender, and the rest is taxable income. That’s pre-cashflow — not necessarily pre-cashflow, but that’s taxable income that you have left over that if you’re experiencing some hardship on one property, you can then move that cash around to keep all your debt service intact.

A lender likes to see your global cash flow, and that would be your income in whatever profession you’re in, or if you’re in real estate full-time, they wanna just see your overall cash flow. There’s really no ratio on that. People ask me about your debt-to-income, what is the residential ratio…? It’s your income-to-debt, or is it debt-to-income…? They don’t really use that in commercial real estate. They just look at the property’s loan-to-value and the debt coverage ratio, meaning how much does the net operating income exceed the monthly principle and interest payment.

And the PITI is not applicable. So when I say debt service, it’s not principal, interest, taxes and insurance. In commercial real estate it’s just PI – principal and interest. Because in multifamily investing, as part of your operating expenses, it includes property taxes and insurance. It’s always an operating expense, it’s not a part of your payment to the lender, because those may be ESCROWs in those 1-4-family… It’s still an operating expense, but they collect them. And it’s not to say that the commercial lender doesn’t ESCROW for taxes and insurance – they do, but when they’re calculating all their ratios, your debt coverage ratio, that’s only principal and interest.

Joe Fairless: What are some immediate disqualifiers that a commercial lender will have?

Michael Reinhard: Generally, the first thing I like to ask is — an extremely low credit score is… I would say below 600 will raise some eyebrows or will require further explanation. When you get into the 500, that’s difficult.

The next would be any bankruptcies, and usually anything older than 10 years is okay. So any bankruptcies less than 10 years may disqualify you. And then foreclosures – any type of foreclosure and any summary judgments, and that could be for any reason. Any summary judgment, which is basically a court order settlement in which somebody has won a claim against you for any reason, any business, lawsuit, any real estate, and which you’ve obviously not been able to settle or pay, and therefore it lines up on your credit report… Because often there’s no real explanation of that on the credit report, there’s not much detail, so you then have to ask the credit applicant “What is this? What was it for?”

And usually, another thing is self-employed people who are living off the cash flow of some real estate investment. If you have one or two or three single-family rentals and that’s all you have, but that income is what’s supporting your family, that doesn’t bode too well for the lender… They see that you’re generating enough income obviously to support your family or your house (even if you’re single), but it doesn’t leave anything to service the debt of another loan or to give you any cushion in the events of some financial hardship. It’s just too tight. They like to see people who don’t have to depend on their commercial real estate investments or even their single-family real estate investments, they don’t have to depend on it to pay their bills.

Now, if you have a huge portfolio and you’re making 200k/year off your real estate, that’s fine. But if you’re just barely getting by and you’re trying to buy your next deal, that’s a little bit of risk to the lender. So self-employed people have to be pretty well established.

Joe Fairless: What type of loan-to-value ratios should we project when we’re initially running numbers on a stabilized multi-family property of about 30 units?

Michael Reinhard: 80% is the standard loan-to-value for a multifamily apartment building. Anything commercial-wise – an office building, a retail center, industrial warehouse, a medical office – is 75%. But there are some exceptions on the 80% for multifamily, and that would be depending on the debt coverage ratio – how much the debt coverage ratio is, how high it is, the income of the borrower and the strength of credit worthiness and financial strength of the borrower.

If you don’t have much net worth and you’re trying to do your first deal or your second deal, they may say “Well, we’re not gonna provide that much leverage. We’d rather limit out exposure to 75% and not 80%.” So if all looks good – good income, decent net worth – you can always pretty much get an 80% loan. But there are extenuating circumstances that may limit to 75%. In each deal, all of the information has to be considered: the borrower information and the property information… And the age – it could be an older property in a rougher neighborhood. It’s really subjective, so it’s up to the chief credit officer, chief lending officer to determine whether they can go that high.

Joe Fairless: Michael, what is your best real estate investing advice ever?

Michael Reinhard: I know this sounds simple, but not to overpay for properties based on when cap rates are trending down. Right now, and what’s gonna happen to my clients that have five-year money with banks – interest rates are gonna go up, and cap rates that are now in the 6%-7%, if they don’t go up with interest rates, a lot of borrowers are gonna be stuck trying to refinance a property five years from now at a much higher interest rate, and I’m talking about 7%, where now the lender is making more money than the investor is.

So it has to do with buying at the right cap rate. Don’t buy into this notion “Where else are you gonna put your money?” 6% is a good return, but you can get burned in real estate using that logic. So no matter how badly you wanna buy a property and how you wanna get into this market and get in the game, patience pays off to make sure you start off with a good at least 7,5%-8% cap rate. Because interest rates are gonna go up, and a lot of people are going to be in shock three and four years from now.

If you don’t have rental rates that are  increasing to increase the value of the property, it’s gonna be a little bit more difficult to refinance. And what’s gonna happen, your return on your equity is going to plummet if you had paid too low of a cap rate in a rising interest rate market.

Joe Fairless: Good cautionary advice, that’s for sure. Thanks for sharing that. Are you ready for the Best Ever Lightning Round?

Michael Reinhard: Absolutely!

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

Break: [[00:21:52].16] to [[00:22:34].14]

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

Michael Reinhard: Hamilton, I just finished it… Alexander Hamilton.

Joe Fairless: Oh, yeah…

Michael Reinhard: I just finished reading it, and I was like “This guy is a genius!” He’s a financier; this guy was a genius. He created our financial system.

Joe Fairless: There’s a couple books out about him… I’ve got a gigantic one that I’m about 20% of the way through; I’ve been working on it for about six months. [laughs]

Michael Reinhard: Yeah, Alexander Hamilton is the name of the book… Ron Chernow is the actual book that inspired that musical Hamilton.

Joe Fairless: Okay, got it.

Michael Reinhard: It’s 800 pages long. He created our financial system, he created basically our mortgage system… It’s amazing. This guy was [unintelligible [00:23:15].24] He died at the young age of 49. He just wasn’t given the credit that he deserves.

Joe Fairless: Best ever transaction you’ve done?

Michael Reinhard: I placed some preferred equity for a group that was buying a multifamily property in San Antonio. They had the deal under contract for a long time, and the investors were just coming up short — well, they weren’t just coming up short; they were about 3-4 million short of raising their equity, and they had literally three weeks to close. I was able to bring in that preferred equity lender that provided 3.2 million dollars in equity that was able to salvage the deal; earnest money was hard at risk, and I made a handsome fee on 3.2 million dollars.

Joe Fairless: What type of rate would that preferred equity partner charge?

Michael Reinhard: It was 15%, but there was no carried interest, or what they call “No promotion”, meaning that they had a superior position of preferred equity versus the common equity, but it was priced like mezzanine financing, which is like a second loan. That means they’re just saying, “Look, all we want is the 15% annual return. We don’t get any of the upside, we don’t get any of the profit. You sell it, you finance it… We don’t get any more. We’re not going to increase our return”, where a joint venture equity investor would say, “Okay, I’m going to get a 8% preferred return every year, and then I’m going to get 50% of the cash flow when they sell it.”

Well, then if you do an internal rate of return calculation over that three, four, five-year period, you could have wound up making a 20% internal rate of return. Well, it was simple; it’s just a plain, non-compounding 15% return on the investment. If they invested three million, they’re gonna make $450,000, and that’s all they get. After the another three years, they just get their 15% for over three years. They don’t get anything more and nothing less.

Joe Fairless: That was a three-year term…

Michael Reinhard: Yeah, it was to be a three-year term and they had an option to extend, so if they needed more time, they would have given them another year.

Joe Fairless: That’s interesting.

Michael Reinhard: Yeah, so they wouldn’t have made any more or less; they would have gotten their $450,000 for those three years, and no matter how much the sponsor — if they made a two million dollar profit, the preferred equity lender would not get any of that.

Joe Fairless: Did they buy this property all cash?

Michael Reinhard: No, that’s why it was the best deal ever, because there was an existing HUD loan that they were assuming. And there were some complications under any kind of a Fannie Mae, Freddie Mac or even an FHA HUD loan, because they don’t allow hard second liens, they don’t allow a pledge of the partnership interest that mezzanine financing usually involves. This lender is familiar with all of those loan covenants and requirements, so they’re able to structure the partnership agreement, basically amend the partnership agreement to secure their investment right… Because they weren’t taking an ownership interest, but they have certain rights and remedies, and if they didn’t pay back that 15%, then they could essentially take over — really, they actually provided credit enhancement to the transaction, because the company is well capitalized and actually is probably worth more than the investor sponsorship. So those first lien lenders – they’re fine with that.

So time was running out, the approval of that assuming that loan was running out… This group was able to work through the terms of the partnership agreement and within three weeks analyze the transaction and make a decision and fund it in three weeks. It was actually less than that, because the borrower was really becoming a little difficult to deal with because they were making some demands, and I said, “Don’t look [unintelligible [00:27:22].21] I said “This is a good deal, quit pushing back.”

Joe Fairless: Yup. What’s the best way you like to give back?

Michael Reinhard: Education. I’m always helping people. I do my own tax returns, so I have a lot of people that have nothing to do with real estate, but just sharing information, networking and sharing… I believe that sharing and helping people in areas that you have a specialty and knowledge in — I always find it rewarding to share my experiences and help people. I believe that if I can help you make money or help you achieve your goals, some day you can reciprocate. When someone calls me and asks me for advice, I don’t hurry them off the phone. I’m glad to help someone or refer them to somebody else that could help them… Because I know how frustrating it can be.

I had some accounting questions and tax questions; I was so frustrated with the actual CPAs that I felt like they didn’t know what they were talking about. I actually called the IRS and did all the research and I figured out how to solve this problem of mine. Now, anytime that you spend that much time and effort, then at that point you’ve become an expert, because now you can share that and save somebody else the grief, or getting wrong information. There’s plenty of wrong information out there.

Joe Fairless: That’s a perfect segue into — not the wrong information part, but the reaching out and talking to people… That’s a perfect segue into the last question – where can the Best Ever listeners get in touch with you?

Michael Reinhard: They can reach me at my website at www. texascommercialmortgage.com. I also have a website for my book – www.commercialmortgages101.com. So you can go to my website, texascommercialmortgage.com and I have a link to the book’s website, and I have a phone number on my website. They can call me, or you can send me a message from my website, or give me a call.

The book is available also on Amazon and Barnes & Noble, but I do have a website, and if you order the book from my website, I’ll actually mail you a signed copy. If you order it from Amazon or Barnes & Noble, I’m unable to sign it.

Joe Fairless: Michael, thank you for being on this show, sharing your best advice ever, talking about the differences between commercial and residential loans, as well as the things we need to make sure we have taken care of prior to applying for a loan. One is credit score 600+, two is net worth of equal the amount of the loan, three is liquidity 10%-20% of loan amount after closing, four is experience of the owner (our experience), and five is our global cash flow. Thanks so much for laying that out there so clearly, as well as talking about the things that would dissuade a lender from lending to you… You mentioned a list of those as well. And then the interesting story about the 15% interest equity partner for that three million dollars in a very short amount of time.

So thanks so much for being on the show… I hope you have a best ever day, Michael, and we’ll talk to you soon!

Michael Reinhard: Thank you, Joe!

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JF959: How Your Mortgage Lender Thinks

Listen to the Episode Below (27:08)
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You may wonder what a mortgage lender is thinking before you give them a call asking for a loan. They want to know how much Capital you have saved, what you own, and what property you were looking to buy… They also want some skin in the game on your end. This episode tells you everything you need to understand about your local mortgage lender and basic requirements.

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Stephanie Weeks Real Estate Background:

– Owner of The Weeks Team
– ‎Mortgage Financial Services
– Mortgage lender for more than 13 years
– Closed thousands of loans totaling hundreds of millions of dollars in volume
– Named top 1% of loan officers in the nation – Mortgage Peace
– Based in New Orleans, Louisiana
– Say hi to her at http://weeksteam.com/
– Best Ever Book: The Go Giver by Bob Burg

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

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advice about mortgage lenders

 

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 – Stephanie Weeks. How are you doing, Stephanie?

Stephanie Weeks: I’m great, how are you today?

Joe Fairless: I’m doing well, and nice to have you on the show. A little bit about Stephanie – she is the owner of the Weeks Team, a mortgage financial services company. She’s a mortgage lender with more than 13 years experience, closed thousands of loans totaling hundreds of millions of dollars in volume, and based in New Orleans, Louisiana, the location of my bachelor party about this time next month, so looking forward to that. Stephanie, with that being said, do you wanna give the Best Ever listeners a little bit more about your background and your focus?

Stephanie Weeks: Sure. As you mentioned, I’ve been in lending for over 13 years, and actually kind of fell into this because my original plan was to be a medical malpractice attorney, so my path went along everything that would follow that, up until going into law school, which I decided in April (when I was supposed to go in August) that something changed, so I needed to have a backup plan… And I hadn’t had a backup plan, but what I did have was I had already bought in full several houses, because my husband and I bought our first house when we were 18 years old. At that point, we were on house four or five, and I called my lender and I said, “Hey, how do you like your job? Tell me about it, and what it entails”, because I told my husband, I said “Oh my gosh, I don’t have a plan B… What in the world am I gonna do?” He said, “Well, anytime any friends or family wanna buy or finance anything, they call you, you get your calculator out and you start running numbers and advise them, so why don’t you just go get paid to do that?” And the rest is history.

Joe Fairless: So that was 13 years ago?

Stephanie Weeks: Yes.

Joe Fairless: Okay, now what type of loans do you specialize in?

Stephanie Weeks: Residential mortgage loans.

Joe Fairless: And do you work with investors?

Stephanie Weeks: I do, absolutely.

Joe Fairless: What are some of the unique aspects of working with an investor that you’ve come across?

Stephanie Weeks: Well, a lot of the lending institutions, when it comes to investment property, they have a little bit higher fees that they charge. They also typically want to put it with some kind of balloon note; they will typically amortize it over a short period with an elevated rate. Well, for my investors I have products from as little as 15% down for a single family investment property, with a 30-year fixed term, without elevated expenses and without a balloon and without a pre-payment penalty, and I also have the option to have 20% down, 25% down, or of course more if they would like to do that. And I can help those investors with single-family one-unit, two-unit, three-unit or four-unit.

Joe Fairless: Let’s go with the 15% down, 30-year fixed on a four-family… What are you looking for from the borrower?

Stephanie Weeks: On the four-family, the minimum on the four-unit is 25% down. The 15% only applies to the single family.

Joe Fairless: Alright, let’s do the single-family then. 15%, 30-year, single family… What do they need to have in order to qualify?

Stephanie Weeks: Well, they’re gonna need to have enough money verified for the down payment, as well as the closing cost, as well as the prepaid items. We’re also gonna wanna see what we call “reserves in the bank”, or savings. How much money is left after closing, to where if those tenants didn’t pay, how many months can you cover that before you default? So we’re looking for a little bit of savings.

The amount of savings depends on the total client profile. We’re looking for good credit…

Joe Fairless: As far as the amount of savings as the total credit profile – you mean credit score? Or are you looking at something else, like things within the credit score as far as maybe debt-to-income, or something like that?

Stephanie Weeks: It’s pretty much everything. We’re gonna look at the down payment, the cash reserves, the credit score, the utilization of credit, the jobs history, rental experience, being a landlord experience – those different types of things, along with debt-to-income ratio and a number of other things as well. So we kind of look at everything. For one client I might need three months reserves, which means three of those new mortgage payments in the bank, after closing.

For some clients, depending upon the number of properties they own, that might be 12 months that we need.

Joe Fairless: The more properties, the more monthly reserves?

Stephanie Weeks: Yes, because we’re looking to see what if something terrible happens and all the properties are vacant. How many months of those payments can you make before you actually default, as an investor?

Joe Fairless: Alright, let’s use a single-family example. What would be some deal breakers for you, that you’ve come across before and you said, “Sorry, can’t work with you”?

Stephanie Weeks: Well, there are some people that would like to start investing in properties, but they don’t have at least the 15% down. Or maybe they have the 15% down, they also own their own primary residence, but they have absolutely zero savings. That would definitely be a deal breaker, because they’re not in a position to pull from somewhere before having to default if the renters up and leave.

Joe Fairless: Okay. How about some general guidelines, like “Hey, if you want to be assured of getting approved for a single family, 15% down, 30-year mortgage – here are the specific things you need”, getting really specific as far as the savings in the bank… And you can use a hypothetical example – say you’re buying a $100,000 property.

Stephanie Weeks: Okay, so a hypothetical example would be if you have good or excellent credit…

Joe Fairless: Which is…

Stephanie Weeks: The average is about a 680. I define good as 700 and above, and I define excellent as 740 or above.

Joe Fairless: Okay, so 700 and above credit.

Stephanie Weeks: Let’s say a good credit and above, say, have at least 15% down, we’re looking for good job stability – that means typically that you’re on your job for at least two years in the same field’ we’re looking for that so that can be verified.

Joe Fairless: Can that be an entrepreneur who’s been entrepreneuring for two years in the same field, for example real estate?

Stephanie Weeks: Absolutely, as long as it’s verifiable income and it’s not just cash money, or something… But absolutely, 100% yeah. And then have, let’s say if you’re buying a $100,000 property, and let’s say if you have another mortgage on your primary house – let’s say that’s $1,500… Let’s say then you’re buying an investment property, and that monthly payment is gonna be $1,000 dollars. We’re now up to $2,500/month in mortgage expenses in that instance.

So in addition to your down payment, closing costs and pre-paid items as well, we’re gonna typically – and sometimes there’s exceptions to the rules – be looking for at least three months reserves on those two properties, which in that particular case would be about $7,500 that’s still left, that you have access to liquid, that you can pull from if you need to make those payments.

Joe Fairless: As far as any other qualifications or things that would disqualify someone… For example, do they have to have experience as a landlord?

Stephanie Weeks: Not necessarily. Sometimes they do, but not necessarily in every instance. You do not have to have that experience as a landlord. Some deal breakers would be late payments on any bills within the last 12 months, or especially late payments on any mortgages in the past 12 months. And let me say that we define late payment as more than 30 days late, not if you were due on the 10th and you paid it on the 20th. We define late as 30 days or more.

So those would be some things that would be a deal breaker. Again, not having any savings, being short on the cash to close – that would be a deal breaker – having too tight of a debt-to-income ratio, that could be a deal breaker…

Joe Fairless: What’s the ratio you look for?

Stephanie Weeks: Typically we wanna see an overall debt ratio of 45% or less in this instance. Always less is a good thing, but typically no more than 45% on this scenario.

Joe Fairless: And can you explain the debt-to-income ratio?

Stephanie Weeks: Absolutely. With debt-to-income ratio we look at two things: we look at the housing ratio, and we look at the overall debt-to-income ratio. For the housing ratio, that is what is that monthly payment in a percentage, related to your monthly income? So what percentage is your housing ratio? As an example, if you make $1,000/month, you have a $300 housing payment, that is a 30% ratio. Does that make sense?

Joe Fairless: Yup.

Stephanie Weeks: And then we also look at the overall debt-to-income ratio. We look at all the debts that you have, we look at minimum payments, we also include the new proposed mortgage or any existing mortgages, and then we take that and consider a ratio in relation to your monthly income – that’s your overall debt-to-income ratio.

Joe Fairless: Very helpful, and I know that we hear those terms often, but sometimes it’s just good to clarify or just get a refresher, and thanks for walking through that scenario.
Let’s talk about a challenge that you have — or actually, let’s talk about a way that you’ve optimized your business… How long have you had the Weeks Team?

Stephanie Weeks: The Weeks Team works at Mortgage Financial Services, so I run the Weeks Team, but I don’t own Mortgage Financial Services. I’ve been having the official team, if you will, for probably about four or five years now… Where I realized that as the industry changed and as it became more difficult and more complicated shall I say, that it started to take a lot more of my time to put a file together, and that in order to still be able to put the files together while delivering the same customer experience that I wanna deliver to each customer, I had to start leveraging myself with people that were the same or better than me at what I do.

Joe Fairless: Being a mortgage lender, to me – and please educate me – there’s a specific skill set that needs to be present, and that’s someone who’s very good at underwriting, and also good with people to bring in the business… So bring in the business, good with people, good with underwriting, you’ve gotta know your numbers… And I know with building a team – at least my own personal experience – I wanna bring in people who have complementary strengths. So I’m good at some stuff and I’m not good at others, so I wanna bring in people who complement me for the areas I’m not good at. But with the mortgage lender, I wouldn’t think – and this is where I need to be educated – that there’s a lot of skills that would be lacking or that you wouldn’t be able to be very good at to scale… So do you complement your team with people who have similar skill sets as you, because it is a people person thing and an underwriting thing, or do you bring people in who have different skill sets than you?

Stephanie Weeks: Actually, I want someone who has similarities with me, but then also complements some places that I lack. That’s how I structure my team. So it’s a little bit of both really, it’s not someone completely opposite or someone exactly the same. And you mentioned skill set in underwriting and know your numbers – I’m very excited that for the second year in a row I’ve been named in the top 1% of mortgage lenders in the nation. But honestly, my daughter asked me about a week ago, “Mom, how many other loan officers are there?” and I actually had no idea.

This morning I jumped on Facebook, and someone that I know across the country that also made the top 1%, she posted that she read that there are actually 136,000 loan officers. 136,000, so I made the top 1%, which is pretty exciting. But what’s important is that I take my job so seriously, and I treat people’s money better than I would even treat my own money. What you need to look for in a loan officer is a skill set of someone who 1) you feel like you trust, 2) who has your best interest at heart, 3) who’s gonna advise you of your whole entire overall situation, not just say “Sure, you want this loan type – here you go”, but “Hey, you want this? This is great, but here’s some other food for thought and how that might help you in your five-year plan.”

You want someone who cares about every single detail, because if I don’t spend the extra time to actually get quotes for all these different services that go along with a loan, so that I can tell the client “This is what your payment is and this is what you’ll bring to closing or less”, and be able to guarantee that… You have to have a lot of detail, a lot of diligence, a lot of care to be able to do that, versus just guess some numbers and then it be wrong. You’re affecting someone’s livelihood and their life when they’re investing in properties.

The other thing I would say – and the last thing, because I’m getting long-winded on you – is this is what is so important, it’s that there are many times when my team gets a loan that’s been denied by someone else, and so they’re calling us to salvage it and try to keep that close day. There are times when that loan was never a loan, and for 30-45 days you had all these people’s lives affected, because someone didn’t do their job in the beginning and that was never a loan.

And then the other half the time, the loan is perfectly fine but it wasn’t done the right way. So the best way to think about getting yourself a mortgage loan is it’s just like hiring an attorney. The lender is the judge and the jury, and they’re gonna tell you whether you’re approved or denied. But basically, your file is your file. It’s all in how your attorney puts it together versus someone else. In this instance, as your loan officer, I’m your attorney. So if someone puts your file together one way, versus the way that I put it together and present it, I might win your loan, versus your loan just got denied by someone else. So I’m bringing everything that I learned in the legal field, and I realize [unintelligible [00:16:56].17] Oh my gosh, I’m doing exactly what I thought I would do, but just in a different capacity, because I am analyzing a situation, I am advising a client, I am finding what’s best for them, I’m putting their whole entire case together to present it so that I win slam dunk, 100% of the time.

I’m extremely proud to say that my team, of every single loan that we submitted to underwriting in 2016, we did not have one loan denial.

Joe Fairless: Wow.

Stephanie Weeks: Not one, and that is ridiculously strong.

Joe Fairless: Has that happened in years prior for you, or was last year the culmination of what you’ve been up to in kind of refining the process?

Stephanie Weeks: In 2015 we had two loans denied, and in 2014 we had one. So it’s been between one and two, but last year [unintelligible [00:17:54].07] And you know what the difference was? We got a little more firm in the beginning, because the two loans that were denied in 2015, honestly they did not follow our direction, our instruction, and we just went along with it trying to still fix when they weren’t listening. But ultimately they got their own loans denied.

Now we’ve just gotten firmer in that. “Hey, look, you can call Joe Blow down the street and he’s gonna tell you this is gonna be fast and easy, and I need nothing from you” and you’re gonna have 15 stops, you’re gonna be frustrated, your numbers are not gonna be your numbers, and lucky if you go to closing and if you get there on time. But me, I’m gonna be upfront, honest and say “It’s a little bit of work because I need all this stuff, but trust me, because I’m gonna get you there, and realize that some of the things I ask you for may not even seem logical in the real world, but they’re logical in mortgage lending.”

Joe Fairless: Stephanie, based on your experience as a mortgage lender, what is your best advice ever for real estate investors?

Stephanie Weeks: Well, that’s a super tough one.

Joe Fairless: You knew it was coming, though…

Stephanie Weeks: Right, I guess so… Honestly, if you’re paying cash, I don’t have any advice; that’s amazing. But if you do need to get a mortgage loan, the absolute best advice – because if you’re investing in properties, then that’s your business, that’s part of your livelihood… And time is money. And wasting money on appraisals and inspection is also a waste of money, so my biggest advice is that if you’re an investor and you are gonna have mortgages when you’re purchasing these properties, you team up with the best mortgage lender that you can find, that is going to do everything they need to do to get you to that finish line. So don’t take that decision lightly.

Joe Fairless: What are the top three questions that a Best Ever listener should ask their prospective mortgage lender?

Stephanie Weeks: This sounds kind of a joke, but it’s kind of funny and kind of true… For me and my team, we actually review guidelines on almost a daily basis, because on almost a daily basis guidelines are changing. We actually get the guidelines printed out; every few months we get the updates, and those books fall apart, because we are in them. We are learning how everything works, how it has to be done, how it puts us all together. So one of the questions I say as a joke is when you’re talking to a loan officer, ask him when’s the last time they read the guideline book… And it’s kind of mean for me to say it, but I still think it’s funny – you should see their face, or hear them stutter, because unfortunately most loan officers have never picked up a guideline book. That’s frustrating to me.

Joe Fairless: If I asked you that question, what would your answer be?

Stephanie Weeks: Yesterday.

Joe Fairless: You read the guideline book yesterday?

Stephanie Weeks: Not the whole book, but the updates.

Joe Fairless: Right, interesting.

Stephanie Weeks: There’s updates almost on a daily basis. I read two different full updates yesterday.

Joe Fairless: What’s the second question?

Stephanie Weeks: The second question would be ask them what kind of added value they bring. This one example, if someone asked me “Okay, Stephanie, what kind of added value do you bring?”, I would say, “Well, number one, the mortgage industry is broken, and I wanted to change that, so I wrote the book on mortgages. The second thing is I’m gonna treat your money like it’s mine. The third thing is I’m gonna advise you on your overall situation based on a five-year plan that you tell me that you have, your goals for closing costs, cash out of pocket, monthly payment… I am going to shop the title companies for you to get you a good deal, I am going to shop your hallmark insurance for you to get you a good deal… I don’t care what title or what insurance company you choose; I have zero benefit of doing that, other than giving another added value to my customer, to have them look at quotes and make a decision, to make sure that your numbers are accurate and they’re the best that they could possibly be.

The other thing that I would say is my added value is, again, [unintelligible [00:21:52].07] so we always have two licensed people that work just about every file just to make sure that we bounce ideas off each other, have a second set of eyes, which is huge.

Those are some of the things – and there’s more, but those are some of the things I would say are my added value, and they definitely wanna ask that question of a potential loan officer, and see how they answer that.

Joe Fairless: And the third question?

Stephanie Weeks: The third question would be “How many families did you help last year? How many closings did you have?” – however you want to word that that’s most appropriate for you. Because according to the last stats that I read last year (and I haven’t found newer ones), the average loan officer closes 1.4 loans/month. Well. let me leave you with this question: if the guidelines are changing on almost a daily basis with updates, and there are a pretty decent number of programs that are out there and available, and you’re closing less than 2 loans a month as a loan officer, how are you going to be the best in your field? How do you know how to put that file together? How do you know how to get that approval? How do you have the experience to know how to work around the problem if you haven’t done it enough times?

Joe Fairless: It makes sense, I love it. Those are phenomenal questions, those three right there, and then how you talked about how you would respond – really valuable. Thank you for that. Are you ready for the Best Ever Lightning Round?

Stephanie Weeks: Thank you. Okay, I guess… I’m nervous.

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

Break: [[00:23:28].06] to [[00:24:11].17]

Joe Fairless: Stephanie, what’s the best ever book you’ve read?

Stephanie Weeks: I would say the list is so long, it’s ridiculous, honestly… But I would say top of my mind is The Go-Giver.

Joe Fairless: By Bob Burg. Best Ever listeners, you can listen to my interview with Bob… Just search his name at the BestEverShow.com, and his episode will pop up. I can’t find it right now on Google, but Bob Burg – he’s been on the show a couple times, actually… Great guy. What’s the best ever way you like to give back?

Stephanie Weeks: My heart is really with the deaf community, so I serve on the board at the local Deaf Action Center, and I try to give money for every loan that I close to that center. That’s one of the things. I do several things, but that’s really where my heart truly is.

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

Stephanie Weeks: You can go to my website at WeeksTeam.com. You can check out The Weeks Team on Facebook, or you can call our office, which is 985 300 LOAN.

Joe Fairless: Are you lending, or do you have programs for every state?

Stephanie Weeks: Not every state… I am licensed in multiple states. Right now I am in Louisiana and Texas. I’m also licensed in several other states, but waiting for the company to get licensed in those states. It should be within the next few weeks I’ll also be in Mississippi, and then within the next couple months I’ll also be in Florida as well.

I’m personally licensed in Louisiana, Mississippi, Alabama, Texas, Georgia and Florida, but the way that it works with the regulations is the company has to be licensed there, as well. We’re working on getting them added to all the states that I’m in.

Joe Fairless: Stephanie, this was an important conversation for the Best Ever listeners who are looking for residential loans, one to four-family, and want to know how to qualify for 15% down, 30-year fixed mortgage, as well as what three questions to ask a mortgage lender. One, “When was the last time you read the guideline book?” and then wait for the awkward pause, two, “What kind of added value do you bring?” and three, “How many customers did you have last year?”

You went through the benchmarks for each of those three, which is important. So we know what a good answer is, an average answer is, a poor answer is, and an outstanding answer is.

Thanks so much for being on the show, I hope you have a best ever day, Stephanie, and we’ll talk to you soon.

Stephanie Weeks: Thank you so much, thank you for having me, and don’t forget too that you can check out my book, Mortgage Peace, at amazon.com.

Joe Fairless: Oh, sweet. We’ll include that in the show notes.

Stephanie Weeks: Thank you so much.

 

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JF951: The Big Boy Passive Approach to Investing

Listen to the Episode Below (23:26)
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Accredited investor? This episode is for you! Our guest only works with accredited investors who want to inject capital into a passive machine that renders returns! Realty Shares executive will walk us through the types of opportunities they offer and who’s investing, so learn about debt raising an equity raising and turn up the volume!

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Amy Kirsch Real Estate Background:

– Director of Investor Relations at RealtyShares
– Over 10 year of financial services experience
– Worked in wealth management for Merrill Lynch, Dearborn Partners, and JP Morgan’s Private Bank
– Based in San Francisco, California
– Say hi to her at www.realtyshares.com
– Best Ever Book: Shantaram

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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.

We’ve spoken to Barbara Corcoran from Shark Tank, Robert Kiyosaki, the author of Rich Dad, Poor Dad, a whole bunch of others… With us today – Amy Kirsch. How are you doing, Amy?

Amy Kirsch: I’m doing well.

Joe Fairless: Nice to have you on the show, and looking forward to getting to know you a little bit. Amy is the director of investor relations at Realty Shares. She has over 10 years of financial services experience. She worked in wealth management for Merrill Lynch, Dearborn Partners and J.P. Morgan’s private bank. Based in San Francisco… With that being said, Amy, do you wanna give the Best Ever listeners a little bit more about your background and what you’re focused on?

Amy Kirsch: Absolutely. Thank you so much for having me today, it’s great to be here with you. I had been working, as you mentioned, about a decade in wealth management, and I learned a bit more about real estate crowdfunding. I was very excited about the opportunity, got to know Realty Shares a bit more, and just was very excited about all they were offering to investors, the opportunity to invest in a whole new way, and that’s what brought me over here.

Joe Fairless: Cool! So what do you do? What’s investor relations mean?

Amy Kirsch: I work with investors pretty much all day long, answering their question, helping them to understand real estate better, helping them through both the sales and the relationship process as they go through in any investments that they have with us on the platforms.

Joe Fairless: Can you get a little bit more in detail as far as maybe what are your specific responsibilities, what are some challenges that you came across, things like that?

Amy Kirsch: We have a team of seven; as we’ve grown, our investor base has become several thousand, so as you can imagine, we have all realms of the spectrum of investors. We’re guiding them, and often times just introducing them to real estate investing, and helping them to understand what it might look like if they did purchase a piece of an investment, what the returns would look like, what the risks are inherent in this sort of investing… That would be the introductory part.

Then, over the life of the investment, keeping them updated, helping them to understand if things are going well, if they’re not going well, if they are payoffs, and keeping them informed over the life of it. So it’s really a combination of both a sales and relationship management role for me and my team, and we have probably a thousand inbound questions a week from various investors that we’re responding to, which really completely range from about the company to about a specific investment. Anything you can imagine, we’re answering it pretty much every day.

Joe Fairless: A thousand inbound questions a week.

Amy Kirsch: Oh yes, easily.

Joe Fairless: Seven people.

Amy Kirsch: Seven people, a thousand questions.

Joe Fairless: Sounds like a blog post title, right?

Amy Kirsch: [laughs] A little bit, yes.

Joe Fairless: Seven people, a thousand questions a week… Everything from guiding them as far as the pros and cons of real estate, and then also working with them and communicating with them throughout the investment. This is interesting stuff, because you basically do what I do, and I’d love to learn more because you’re doing it on a much higher volume than I’m doing.

Let’s talk about who you’re speaking to. Are they all accredited investors?

Amy Kirsch: They are. Everyone that’s on the Realty Shares platform right now is an accredited investor. We have non-accredited investors asking us questions, and we’re hoping that we’ll be able to show them an offering sometime in the near future, but for now we’re only working with accredited investors.

Joe Fairless: Okay, so they’re all accredited investors. It sounds like you’re at the front end of the deal before they sign up to fund a portion of the project or you guide them in real estate investing. Are you giving them input on the actual investment itself, or the pros and cons of investing in real estate?

Amy Kirsch: A bit of both. As I mentioned, we have people who have never invested in real estate before in the platform, so they often have more rudimentary questions… They haven’t seen a waterfall before – what will that mean for them? What does a preferred return look like? Those kinds of questions, trying to understand the sponsor a bit more and the ABCs of real estate… So we’re talking about the platform at large, and then also specific investments, helping them to understand… Honestly, we can get into “What is the difference between debt and equity?” We answer that question all the time.

Joe Fairless: So your role is both the particular investment, as well as just education in general, on real estate?

Amy Kirsch: Absolutely. It’s absolutely a combination of both, and we really take a lot of stock in making sure investors are educated. We want them to really understand what they’re investing in prior to getting into an offering.

Joe Fairless: You said one of the common questions that’s asked is “What is the difference between debt and equity?” What’s your response to that?

Amy Kirsch: Wow, you’re getting me on my toes here… [laughter] [unintelligible [00:07:03].19] like you’d see at a bank, where you’re receiving… You’re acting like the bank; you can expect an interest rate payment monthly. It looks like a balloon mortgage, where you can expect a principal after the life of the loan. So that’s how I explain debt.

On the equity side, you look more like a business owner. You’re participating in the upside or the downside participation of the property, and should things perform well, you’ll have unlimited upside. Should things go poorly, you will part-take in that as well. With that comes a lot more risk, but a lot more reward, whereas on the debt side you know exactly what the outcome is likely to be, because there is a stated interest rate and you’re not gonna earn any more than that.

Joe Fairless: Are they secured the same way with debt and equity?

Amy Kirsch: That’s a great question. The debt is secured by a first lien loan, where should something go wrong, we’re able to foreclose on the property. If our assumptions are in line, then we should be able to fully recoup all investor money. On the equity side there is no lien on the property. Our measures are a bit different in what we could do should something go wrong. We would maybe able to kick out the partnership, we may be able to take over the property… It truly depends on what the underlying property is.

Joe Fairless: Okay, it makes sense. After I did my first deal, I was talking to some people and they were like, “Did you raise debt or equity?” I was like, “Um, I just raised money. I have no idea.” [laughs] I was so stupid at the time. I had already done one deal, that shows how green I was at the time… And people like you have educated me along the way, thankfully.

Amy Kirsch: Yeah… Like I said, it’s important for investors to understand the worst-case scenarios, just as it is the best-case scenario, when people are first participating in real estate, and we encounter a lot of people like you.

Joe Fairless: What are the most common risks? I mean, sure, there is about 20 pages in a PPM that outlines some obscure risks… But what’s the most practical couple risks that could come up in a real estate investment?

Amy Kirsch: I think the risks are a bit different for the different types of products, like I mentioned before for debt… And truly, our debt holders are often a little bit less experienced than our commercial, which can be great and bad, because we have that foreclosure opportunity should something go wrong. But what would happen there is that the sponsor (or the borrower, in this case) is not able to execute, and what happens then? They’re not able to sell it for the price that we thought, so they can’t pay off the loan in full. That would be the risk there, often times.

I think almost all of the time we have personal guarantees on our debt, so if they do not return money in full, then we can pursue them personally. So I think that’s a risk – the sponsor is not able to execute. A more likely risk is that the market turns around, so the market isn’t able to deliver what we had expected.

Joe Fairless: Let’s talk about equity, going into an equity example. I really think this applies to both debt or equity, it doesn’t really matter how it’s structured. Let’s just say the borrower isn’t able to execute and perform under business plan, and let’s just say – because I know you do different asset classes – it’s a single family house. What is a common reason, based on your experience, that they’re not able to execute the business plan? What do they overlook or not account for most of the time?

Amy Kirsch: I wanna start by saying that we have done – I believe the number now is 550 deals, and in that time we’ve had under ten where we’ve had significant issues with borrowers or sponsors on any side of the fence, debt or equity. So what we’re talking about now is very rare… But to your point, the reason I think sponsors most often don’t execute is simply from inexperience. They thought costs would be X, and they ended up being Y, and they were significantly more. I’d say that that’s what most often accounts for not being able to execute, and the way that we try to avoid those sorts of situations is by our due diligence process upfront, where we account for track records and look for the kind of experience that they have in the past, both with either their current company or in the past, as well as getting to understand what their business plan is.

Joe Fairless: Yeah, thanks for putting it into perspective. I was curious about why it wasn’t working, but thanks for giving some context as far as “Hey, this isn’t happening very often.” But as I know you know, that’s just a question that comes up for all of my deals – “Hey, what are the risks here?”, so I was just curious how you discuss those.
Now, on a different path, what’s the most common reason why an investor doesn’t decide to invest with you all?

Amy Kirsch: You know, I hadn’t thought about that too much. I’d say the most common reason is because the parameters of the offerings that we have in a marketplace at that time don’t meet their investment objectives. That’s most often what — the hurdles often find upfront that we’re often able to overcome are the inexperience of the investor… So getting them to understand (as we’ve talked about earlier), educating them properly. But I’d say that’s most common – they’re looking for a 12-month offering, and we’re showing something that’s 8 years; they’re only looking for debt, we have equity…

Mostly, what we find is people take a month or two to review the platform if they don’t have any real estate experience, and then they invest after, in 30-40 days.

Joe Fairless: One thing I’ve found with investors who don’t invest is they wanna be active and not passive. They want control, they want to have their hands in it, they wanna be more involved, and I’m just not set up that way. They are passive too when they invest in your stuff, right?

Amy Kirsch: Yeah. We have heard that from investors before, but I hadn’t really thought about that as a common objective. What we find more often is that people are tired of being actively involved in the investment process. They don’t wanna manage the property, they wanna do it, so that’s why they’re coming to us. But I could see it on both sides… If they do wanna have a heavier hand in the process, we don’t offer that as well.
For pretty much everything else, if you are looking for passive investment, you can come to us and get whatever kind of offering you’re looking for.

Joe Fairless: You’ve just hired employee number eight on your team, congratulations! What do you wanna make sure that they know?

Amy Kirsch: What’s very important to us is that we went through a broker-dealer, and compliance is extremely important to us. Making sure an investment is suitable for an investor is, from day one, what we’re talking about. The second thing is getting — some of the members of my team have real estate knowledge, some don’t, so getting them up to speed on what kinds of deals we’re offering… We work very closely with the investments team, so working together with them to get a really good understanding of what we’re offering to investors – those are both imperative to being successful on the team.

And of course, being able to be patient, getting the same question over and over again. That takes a lot of… You have to be steadfast for that.

Joe Fairless: Yes, especially if you’ve got a thousand coming in per week. As far as the compliance goes, maybe I’m not thinking of it properly, but isn’t that already set up through your software, so if they come to you and your team, then they’ve already been qualified through the software?

Amy Kirsch: To a certain extent they are qualified up front; a part of it is qualification, but the other part is suitability, so making sure they’re an accredited investor is just 50% of the equation. We have investors that make very substantial investments with us – half a million, a million dollars concentrated in a deal. With that comes a lot of risk, simply because of concentration risk. So if they’re making a million dollar investment but they have 50 million dollars, we’re less concerned about that than if they are making a single one million dollar investment and they have two million dollars.

We’re really just trying to understand the objectives of the investor, and that they are properly suited for that particular offerings. That’s what we’re focused on when we’re reviewing deals or reviewing investors. It’s very important.

Joe Fairless: What would be the pros and cons when comparing investing in a crowdfunding platform like your company, versus a syndicator who has his own company, like mine? So if an investor were to come to you and be like, “You know what, Amy? I’ve got 100k and I wanna invest in one thing. I’m trying to decide between the deal that Joe’s got, where I know I can go directly to him and he is a one-company thing, versus a crowdfunding platform like yours.” What are you saying that would be a pro over what I’m offering?

Amy Kirsch: The largest pro is that we’re gonna have a more diverse set of offerings, because we’re dealing with sponsors all over the country in diverse product sets. So while a syndicator may specialize in a particular asset class or a particular geography, we’re gonna see that same thing repeated over our offerings, 20-something million dollars worth of opportunities over the course of a month, with a very diverse background of sponsors, geographies, asset classes, product classes. I think that’s a major differentiation you’ll see, and we’re being a low-fee provider… So with some of that relationship where you know the syndicator probably a little bit better, maybe you’re willing to pay a bit of a premium for that. We offer pretty low fees to our investors across other crowdfunding platforms, or one of the lowest.

Joe Fairless: And what are your fees?

Amy Kirsch: We charge 1% asset management fee across the board, and that goes to investors. On the sponsor side we charge in origination fee between 3% and 4% on equity and 2%-3% for debt.

Joe Fairless: And you don’t take any cut of the deal?

Amy Kirsch: We don’t take any cut of the deal, we take no participation fees.

Joe Fairless: So 1% asset management fee, and 3%-4% on debt that’s paid by the sponsor.

Amy Kirsch: Right.

Joe Fairless: And did you say something else? Was there another fee? Or is that it.

Amy Kirsch: Just the 1% asset management fee that’s charged to investors annually, as we provide the services… For updating you, K1’s, managing the property after the fact, after you’ve invested.

Joe Fairless: Those are very good fees.

Amy Kirsch: Yes.

Joe Fairless: What’s the plan for your company from this point forward?

Amy Kirsch: The plan is to expand what we’re currently doing. We have a lot of opportunities to grow in the various marketplaces that we’re in; I think that’s very important to us. The other thing that we’re really focused on is automation and tech. We’re a financial technology company; a lot of what we bring to the table is breaking down a business that’s pretty archaic and bringing it to the future. I think both of those things are what we’re really focused on, and we’re really excited about some of the new expertise that we’re bringing into the marketplace in 2017. Those are our two major focuses.

Joe Fairless: What is your best real estate investing advice ever?

Amy Kirsch: I would say… Let me think about this for a second. My best real estate investing advice ever is to think about your investment objectives and diversify. If you execute in that regard, I think you really have a great shot at being very successful in real estate investing.

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

Amy Kirsch: Oh, sure! I guess so…

Joe Fairless: [laughs] Well, we’re doing it either way, so I’m glad that you guess so. First though, a quick word from our Best Ever partners.

Break: [[00:18:32].03] to [[00:19:13].14]

Joe Fairless: Best ever book you’re read?

Amy Kirsch: Shantaram.

Joe Fairless: What’s that about?

Amy Kirsch: It’s about a criminal who gets lost in India. I was just there, and it was so incredible to see what he had — just kind of hiding throughout the streets of Bombay. It’s the coolest book ever and it’s based on a true story.

Joe Fairless: Shantaram… Okay, cool. Best ever personal growth experience and what did you learn from it?

Amy Kirsch: That would be moving from traditional wealth management into the fintech space. It is kind of exciting to go from the most archaic business of all time into breakthrough measures of doing everything. I’ve learned so much in the last two years… More than I have in the previous ten in the same(ish) industry.

Joe Fairless: What’s one specific thing you’ve taken away from it?

Amy Kirsch: That you don’t have to think small; there doesn’t need to be so many levels of red tape, and if you’re working with the right people, you can get a lot accomplished in a short period of time. You don’t have to do things the way they always have been done just because that’s what people say needs to happen.

Joe Fairless: Are you an investor? Do you invest in real estate, too?

Amy Kirsch: I do… I own property, but we’re limited from doing it on the Realty Shares platform.

Joe Fairless: Oh, of course. [unintelligible [00:20:26].10] Well, best ever deal you’ve done personally on a real estate front?

Amy Kirsch: I have flipped out of apartments in Chicago, and I think that’s because that’s where I’ve lived, and I’ve been successful in that regard.

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

Amy Kirsch: Part of the reason that I was in India was that I’m involved with a national philanthropic organization that gives money all over the world to help people recognize that they can be successful. This particular group gave money to women in India to help them be independent, so that their kids could go to school. It’s called the Gabriel Project and I’m really happy to be associated with it. It’s just doing wonderful things for empowering women in a very impoverished area.

Joe Fairless: Thinking about some of the deals that you’ve personally done, what’s been a mistake you’ve made on a particular deal?

Amy Kirsch: I think one of the things I’ve learned is to not be too emotional. This goes to investing in general, but very particularly with real estate. You can get too involved, hold on too long… Something I’ve learned over time is to try to be less emotional when it comes to any kind of investing. I was investing in the markets in 2008 – not in real estate – and then found that some of my clients as well were making decisions because they couldn’t see through the trees… I think that’s good to overall investment advice.

Joe Fairless: Where can the Best Ever listeners learn more and get in touch with you?

Amy Kirsch: They can come to RealtyShares.com, or e-mail us at invest@realtyshares.com. We answer a thousand questions a week, so we’d be happy to answer a couple hundred more.

Joe Fairless: [laughs] Pile them on, baby! Well, Amy, thanks for spending some time with us talking about your role and the challenges you come across, as well as your responsibilities, from you and your team — what were you gonna say?

Amy Kirsch: I just wanna say thank you so much! It’s so exciting to talk to others in the similar space, and it’s just great to be here!

Joe Fairless: Yeah, especially with your particular role… It fascinates me, because I’m doing similar things to what you’re doing, but not on your volume – by no means am I doing the volume of a thousand inbound questions/week; that’s insanity. But because you’re doing the volume, it’s interesting to hear the varying degrees of questions, from what is a waterfall and preferred return, to the difference between debt and equity, all the way to the risk associated to it, and maybe more sophisticated things like “How is my money secured if this scenario does happen?” and you talk through all that… As well as your focus on compliance when you hire a new team member, and just getting them up to speed on the business model and the different opportunities.

Thanks for being on the show. I hope you have a best ever day, and we’ll talk to you soon!

Amy Kirsch: Thanks so much, Joe.

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Best Ever Show Real Estate Advice from experts

JF819: Don’t Struggle to Fund Your Deals, Here’s How You Can Find the BEST Lender

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A platform that has a select group of hundreds of the best lenders in the business will find your next lender ASAP. Hear how our guests have completed millions in loan originations through this unique platform and what they’re doing today to grow. More importantly, see what’s in it for you!

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David Luke and Selene Nelson Real Estate Background:

– David is VP for Business Development at CommLoan
– A technology platform that matches borrowers and lenders
– Selene is Senior Vice President of National Business Development
– Loan Purposes: Purchase, Refinance, Construction, Rehab.
– Selene-20 years experience in the financial industry; David – 12 years
– Matching process is based on 30 unique variables
– Based in Scottsdale, Arizona
– Say hi to them at http://www.commloan.com
– Best Ever Book: Zero to One by Peter Thiel

Sponsored by:

Door Devil – visit http://www.doordevil.com and enter “bestever” to get an exclusive 20% discount on your purchase.

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Best Ever Show Real Estate Advice from experts

JF770: ATTENTION Expert Investors, It’s Time to DEVELOP!

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You may hear that you shouldn’t choose the reward over risk in real estate, you are about to learn how to mitigate your risk even better. Our guest is a pro The product that allows you to understand your risk in developing and better negotiate the transaction and process with your partners. This is a must listen!

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Brian Barbuto Real Estate Background:

– CEO of Infobrij LLC, a private equity firm for commercial/residential real estate investors/sponsors
– He has 40 years in Real Estate Development
– Has has designed an innovative investment model that is poised to change the way real estate investing is done
– Completed over 1,000 residential units and worked through over $100M in real estate project funding
– Based in Orange County, California
– Say hi to him at www.infobrij.com

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Best Ever Show Real Estate Advice from experts

JF766: Marketing Effectively and Breaking Down MASSIVE Goals #FollowAlongFriday

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Today’s episode breaks down marketing and goal destroying. Joe shares his goals to reach 1 billion in net worth by his 40th birthday and how he’ll do it. Theo and Joe share their thoughts on marketing, and specifically email marketing.

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Want an inbox full of online leads?

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

Go to http://www.adwordsnerds.com strategy to schedule the appointment.

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Best Ever Show Real Estate Advice from experts

JF765: Why You SHOULDN’T Buy a Single Family Residence on Your First Purchase

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Today’s guest is a lender who has been around the block over 20 years and he is about to tell you the best way to jump into real estate. Tune in!

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Alex Joiner Real Estate Background:

– Senior Loan Originator at Mountain West Financial
– Over 20 years experience in mortgage and financial business
– Business degree from Alta Tech
– Based in Phoenix, Arizona
– Say hi to him at: 4802701062
– Best Ever Book: The Holy Bible

Want an inbox full of online leads?

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

Go to http://www.adwordsnerds.com strategy to schedule the appointment.

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Best Ever Show Real Estate Advice from experts

JF743: How a Funding Source Automates and Markets AMAZING Deals

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Today’s guest is a pro at analyzing, underwriting, and pushing deals that need to be funded. He manages a large group of individuals amped to get your project funded and off the ground, hear how he is able to automate his marketing and provide a service most cannot.

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Vincent Pace Real Estate Background:

-Manager at Barnett Capital; A private money lender for home flippers and real estate investors
-Over $30MM funded
-Based in Northbrook, Illinois
-Say hi at www.barnettcapital.com
-Best Ever Book: Catcher in the Rye by J. D. Salinger

Want an inbox full of online leads?

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

Go to http://www.adwordsnerds.com strategy to schedule the appointment.

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Best Ever Show Real Estate Advice from experts

JF713: The PROS and CONS of Buying Through a Hedge Fund

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Today’s guest got in the game into thousand 12 and leveraged hedge funds to purchase his real estate. He knew hedge funds knew the market, so he brought the deal. Here how he explains the pros and cons of using a hedge fund in how you can apply these concepts in your business.

Best Ever Tweet:

Saj Babu Real Estate Background:

–    Co-Founder of Zilla Realty
–    Works with hedge funds to fix and flip
–    Based in Dallas, Texas
–    Say hi at Instagram
–    Best Ever Book: The One Thing

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.

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no fluff real estate advice

JF709: How He Bought 16 Units with $5000 Down!

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He’s 23 years old and is living the dream! His family has hustled in real estate to help his brother make it to the NHL, now he’s a young real estate entrepreneur in the multi family niche. Yes he did only use $5000 of his own money to purchase 16 units, hear how he did it!

Best Ever Tweet:

Joel Florek Real Estate Background:

– JF Holdings
– Goal to acquire 150 doors by age 26
– Based in Iron Mountain, Michigan
– Say hi at joelflorek@gmail.com
– Best Ever Book Start Something That Matters

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.

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no fluff real estate advice

JF707: A Few Tips from a No-Credit-No-Problem Asset Based Lender

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Today’s guest is full of advice for fix and flip investors anxious to jump into the game. He shares a few tips on money, deal structure, and analyzing whether it’s a deal or not. Hear what he has to share intake notes along the way, it’s time for you to jump into your next fix and flip!

Best Ever Tweet:

Ian Walsh Real Estate Background:

– Partner at Hardmoney PA
– Started Atlas Property Management with his business partner Josh
– Based in Philadelphia, Pennsylvania
– Say hi at hardmoneybankers.com
– Best Ever Book: Richest Man in Babylon by George Clason

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.

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no fluff real estate advice

JF693: Here’s the Right Way to Buy Condos

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Today’s guest has built custom homes, flipped many properties, and now lends in Arizona to conventional buyers and investors. Today he crunches the numbers on his new niche, condo buying. Hear his advice and why he believes that condos are great investments if done properly.

Best Ever Tweet:

Jeremy Lovett Real Estate Background:

 – Lender at Homeowners Financial Group USA, LLC
– Has flipped homes and built custom homes
– Currently buys condos
– Based in Scottsdale, AZ
– Say hi to him at http://jjlovett.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:
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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:
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Best Ever Show Real Estate Advice

JF668: How a Mobile Home Park was Flipped to a Church

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Our guest is from the hot hot valley of Arizona, and he is cranking deals! He is a one stop shop real estate investments boutique with the tool for every transaction. He shares many stories including one of purchasing a mobile home park and finding a buyer across the street!

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Stuart Gethner Real Estate Background:

    – Founder of Phelps Capital Consulting
– Invested over $10,000,000 in AZ
– Based in Scottsdale, Arizona
– Say hi to him at http://www.phelpscc.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:
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real estate advice podcast

JF664: How to Raise Money to Be a Successful Startup

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Today’s guest has done it all! He is an ambitious startup enthusiast who has created companies from the ground up. Hear how he was able to fund his lending company and learn valuable lessons along the way.

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Matt Humphrey Real Estate Background:

– Co-Founder of Lending Home
– Funded over $515 MM Transactions
– Startup enthusiast
– Reach out to him at lendinghome.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:
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no fluff real estate advice

JF662: How this Mailman Became a Millionaire

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Our guest began as a mailman, but his wife wasn’t going to accept a mailman income. He has purchased over 250 properties and offers mentoring in all things real estate. Hear how he creatively netted over $200,000 through a quiet title.

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Tom Nardone Real Estate Background:

    – Owner of The Millionaire Mailman investor and mentor
– Featured on Good Morning America, CNBC
– Co-authored Secrets of the Real Estate Millionaire
– Purchased over 250 properties
– Say hi at http://www.tomnardonemillionairemailman.com/tom-nardone/

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:
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real estate advice podcast

JF658: A High Level Investing Strategist Covers the MOST Important Market Indicators

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Today’s guest is scholar from Harvard, an author, a startup advocate, and investor. He has a track record in systems development in real estate business. Hear his take on extracting value in any market.

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Stephen Roulac Real Estate Background:

    – CEO of Roulac Global
– Writes textbooks for Harvard and other Ivy League schools
– Author of The Property Knowledge System http://www.thepropertyknowledgesystem.com
– Based in San Francisco, California
– Say hi to him at 415-451-4300

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:
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real estate advice podcast

JF657: How He Creatively Controls Properties with No Obligation

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Today’s guest is a highly creative real estate investor in the Colorado market. Although his first deal only earned him a $100 spread, he mastered the creative financing deals, and now owns over 20 properties. Hear how he also raised millions.

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Kevin Amolsch Real Estate Background:

– President of Pine Financial Group
– Owns more than 20 units
– Based in Denver, Colorado
– Say hi at kevin@pinefinancialgroup.com
– Read his book at: https://www.amazon.com/gp/aw/d/0692501193?keywords=45day%20investor&pc_redir=T1&qid=1456187644&sr=8-1

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:
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real estate advice podcast

JF653: How This Private Money Lender Beats ANY Competitor Lending Terms Nationwide

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He is a seasoned private money lender willing to beat any competitor terms. He flexes and flips around 50 homes a year and sees over 200 loan applications a day. Be sure to hear this episode has a good benefit you and your next fix and flip!

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Lee Arnold Real Estate Background:

    – Private money lender
– Funds private money loans and some of the rehab
– Based in Coeur d’Alene, Idaho
– Reach him at cogocapital.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.

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real estate advice podcast

JF651: How He Works a Day Job and Closes Over 140 Deals

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Today’s guest is a full-time employee working towards his financial freedom. His niche of choice in real estate is the lease-option and other creative financing strategy. He is also open to closing with cash, but has learned creative solutions from mentor Dean Graziosi. Sure to lean into this one!

Best Ever Tweet:

Jay St. Hilaire Real Estate Background:

– Author of Stop Renting and Be a Homeowner Now!
– Lease option strategist
– Based in Brushton,New York
– Reach him at jbtoggs@yahoo.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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Best Ever Show Real Estate Advice

JF646: How He STOLE This Deal Off of LoopNet

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Most people don’t try to browse through LoopNet as it’s known to be saturated with high priced multi family and commercial properties… little room for an investment. Today’s guest had his eyes on one, a 22 unit, and got it for a huge discount! It wasn’t that easy though, here are the struggles of our guest and how he prevailed!

Best Ever Tweet:

Bill Manassero Real Estate Background:

– Founder of Old Dawgs REI Network blog and website
– Acquired a 22 unit in Indianapolis
– Served as a missionary in Haiti
– Based in Orange County, California
– You can reach him at http://olddawgsreinetwork.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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Best Ever Show Real Estate Advice

JF645: Why the four C’s are critical to get funded

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Ever wonder what criteria a hard money lender or uses to approve you for a loan? There are many, but today’s Hardmoney lender dubs himself a hard money banker and uses the 4 C’s. Tune in to hear what he is doing now and how he approves loans!

Best Ever Tweet:

Jason Balin Real Estate Background:

– Hard money lender who has funded over 1,000 transactions
– Been in business for over 10 years
– Author of The Whiteboard
– You can reach him at hardmoneybankers.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

JF644: Ex Financial Planner Creates LONG TERM Retirement Program Backed by His Portfolio

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It’s complicated, but ingenious! He is currently working on a long term fund that allows others to invest in where dividends are paid and the whole thing is backed by real estate. Turn up the volume!

Best Ever Tweet:

Peter Mackercher Real Estate Background:

– Realtor and broker
– Investor with his own construction company
– Based in St Louis, Missouri
– You can reach him at stlmogul.com
– Read about his worst mistake here http://www.stlmogul.com/blog/my-biggest-mistake-in-real-estate/

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

JF636: Why Going to Church May Make You a MILLIONAIRE

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Today’s guest was very creative when he and four others founded their lending company, they used investors! He collects on the spread and creates financing terms for investors using OPM. The best part is he found his true calling in church, so you better attend!

Best Ever Tweet:

Isaac Blocher Real Estate Background:

– Owner of Boaz Capital Group
– Previously a fire fighter and television editor
– One of five founders
– Reach out to him at isaac@boazcapitalgroup.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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Best Ever Show Real Estate Advice

JF630: Why You Need to Call this Lender TODAY!

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Today’s guest is one of our sponsors and of course he’s a sponsor for a very good reason, amazing terms! Tenant to hear how his fix and flip company has a program called Rental 30 and what it can specifically do with your assets, even if you’re not making a lot of money!

Best Ever Tweet:

John Warren Real Estate Background:

– Founder and CEO of Lima One Capital
– Former Marine
– Raised over $500 MM
– Based in Greenville, South Carolina

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

JF627: How this Hard Money Lender Will Approve Your Loan and Wire the Funds FAST!

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He has extensive experience in mortgage-backed security’s, Lending, and has now created a company as a hard money lender. His focus is on speed and customer service, ensuring that his clients get all they can receive as quickly as they need it. Hear how he does it!

Best Ever Tweet:


Paul Ullman Real Estate Background:

-Founder and Chief Investing Officer of asset based lending
-Closed over 700 transactions totaling over $170MM
-Based in Hoboken, New Jersey
-You can reach him at ek@abl1.net

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!

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Best Ever Show Real Estate Advice

JF626: Why This Lender Suggests that You Be a Student of TRENDS

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Today’s guest is notorious for being one of California’s top lenders and invest in real estate himself. He shares with us how he will roll existing profits from projects into other projects and the situations he won’t do anything at all but wait, you have to hear this show!

Best Ever Tweet:

Andre Jimenez real estate background:

-16 years of hard money lending experience
– Has managed over $350,000,000 in assets in his career
-One of California’s top hard money lenders
-Co-Managing partner of Windvest Capital
-Based in San Diego, California
-Reach him at andre@windvestcorp.com

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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Best Ever Show Real Estate Advice

JF616: How This Marriage Raised Over $3MM Without Using Any of Their Own Money

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Today’s Best Ever guests are persistent! They struggled in the beginning and started with literally nothing. They first started with a duplex and then slowly built momentum with additional funding from their private circle, hear how how they do it!

Best Ever Tweet:

Matt and Liz Faircloth real estate background:

– Founders of The DeRosa Group and has done more than $10,000,00 of transactions using private money
– Raised over $3,000,000 in private money without investing any of their own money into the deals
– Based in Trenton, New Jersey
– Say hi to them at http://www.derosagroup.com/
– Check out landlord tips on their YouTube channel, Landlord Chronicles

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

Sponsored by:

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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Best Ever Show Real Estate Advice

JF615: How These Two TURN ON the Leads When Direct Mail is Slow

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They began young, and extremely ambitious! Beginning in a California market is like jumping into the ring with Mike Tyson…overwhelming! They share their success within their solid network, SEO, and positive mindset. Hear how they are doing it!

Best Ever Tweet:

Adam and Josh Justiniano real esate background:

  • Brothers started investing at 21 and 23 years old and have closed on over 50 deals in under 3 years…while one of them is still going to college at Cal State Northridge
  • Bought 6 properties in the last 10 months as buy-and-holds
  • Done 2 flips and have a duplex in Oxnard, California as 3rd flip
  • Say hi to them at quickhomeoffers.com
  • Their Best Ever book: Spin Selling by Neil Rackham

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

Sponsored by:

Door Devil – visit  http://www.doordevil.com and enter “bestever” to get an exclusive 20% discount on your purchase.

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JF577: What $829 BILLION of Appraised Properties Entails

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Our Best Ever guest is a commercial and residential appraiser in the Dallas, Texas market. He has been involved in amusement park projects such as Six Flags and laser tag arenas. He shares his expertise in the appraisal process and how he has found successful opportunities!
Best Ever Tweet:
Jake Thacker’s real estate background:
–          Been in the real estate industry for 16 years
–          Third generation of real estate in the family
–          Specializing in commercial appraisals and property investments
–          He is based in Dallas, TX with Gaither Commercial Realty
–          Author of: ApprRAISE the Roof, a step-by-step guide to successfully finding and evaluating commercial properties

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

Are you committed to transforming your life through Real Estate this year? If so, then go to http://www.CoachWithTrevor.Com and claim your FREE Coaching Session.  Trevor is my personal real estate coach and I’ve been working with him for years. Spots are limited, so be sure to do it now before all the spots are gone.

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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JF576: No More Excuses! Here’s 84,000 Reasons Why You Need to Start Your First Fix and Flip!

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Our best ever guest purchased a fix and flip property with conventional financing… Yes conventional financing! He was able to find a partner, secure with a healthy profit. He did it on his first try, so there are no excuses, you’re up next!

Best Ever Tweet:

Cornelius Charles

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

Are you committed to transforming your life through Real Estate this year? If so, then go to http://www.CoachWithTrevor.Com and claim your FREE Coaching Session.  Trevor is my personal real estate coach and I’ve been working with him for years. Spots are limited, so be sure to do it now before all the spots are gone.

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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JF559: What BIG THINGS You Could Do with the Equity in Your Properties

His Best Ever advice will shock you, and especially real estate agents. Today’s guest is a bridge lender and has extensive experience in equity funding. He shares with us his parameters for funding and what he is looking for in the numbers, listen in and prepare to reach out with your properties.

Best Ever Tweet:

Mike Zlotnik real estate background:

  • Debt and equity investor in real estate for more than 15 years
  • He’s done over a $100,000,000 in underwritten loans
  • In 2009 Mike joined Tempo Funding and is the Managing Director
  • Say hi to him at tempofunding.com
  • He’s based in Brooklyn, New York
  • His Best Ever book: Retire Rich by Nora Peterson

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

Are you committed to transforming your life through Real Estate this year? If so, then go to http://www.CoachWithTrevor.Com and claim your FREE Coaching Session.  Trevor is my personal real estate coach and I’ve been working with him for years. Spots are limited, so be sure to do it now before all the spots are gone.

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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JF552: Why You Need to be AHEAD of the Curve Investing in Millennial Driven Real Estate

Do you know where we are headed? Whether you do or don’t, the market will require millennials and their families…prepare for it! Our guest is always on the lookout for job growth, gentrification, and opportunities. You have to hear this show!

Best Ever Tweet:

Don R Campbell real estate background:

  • Canadian-based real estate investor, researcher, author and educator
  • Founding partner and Senior Analyst of Real Estate Investment Network and Cutting Edge Research both of which have entered their 22nd year of providing unbiased research and analysis on the Canadian real estate markets
  • Based in Vancouver, British Columbia
  • Donated over $1.2M to Habitat for Humanity
  • Say hi to him at donRCampbell.com
  • Get the docs he mentioned during the interview here: https://goo.gl/UkwtYe
  • His Best Ever books: Mozart’s Brain and the Fighter Pilot by Richard Restak and Ultimate Secret to Getting Everything You Want by Mike Hernacki

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

Are you committed to transforming your life through Real Estate this year? If so, then go to http://www.CoachWithTrevor.Com and claim your FREE Coaching Session.  Trevor is my personal real estate coach and I’ve been working with him for years. Spots are limited, so be sure to do it now before all the spots are gone.

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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JF545: STOP, and Hear These Hard Money Lessons from an Industry Consultant

She knows Hardmoney, our Best Ever guest is a consultant in the Hardmoney industry and she sees how money is professionally borrowed, lended, and the mistakes both borrowers and lenders make. Here this episode to be informed before you keep borrowing Hardmoney.

Best Ever Tweet:

Jamie Seaton real estate background:

  • Began career in 2000 as a property manager based in Auburn, California
  • In 2002 got her appraiser license and serviced Northern California for 7 years
  • Since 2009 she has been a hard money consultant where she advises investors, brokers and borrowers
  • Say hi to her at dcuprivatemoney.com
  • Her Best Ever book is The Four Agreements by Don Miguel Ruiz

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

Are you committed to transforming your life through Real Estate this year? If so, then go to http://www.CoachWithTrevor.Com and claim your FREE Coaching Session.  Trevor is my personal real estate coach and I’ve been working with him for years. Spots are limited, so be sure to do it now before all the spots are gone.

Have you tried REFM’s Valuate software yet? It makes investment analyses a breeze, and makes you look like you spent all week on them. Go to app.getrefm.com to sign up today.

Subscribe to Joe’s YouTube Channel here to learn multifamily and raising money tips:
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JF539: HGTV’s Scott McGillivray of Income Property Shares His Advice and Niche!

You’ve seen his show, Income Property, where he helps individuals buy cash flow homes, and now he’s here to share his Best Ever advice! He tells us about his specific niche that he prefers to invest in that will blow your mind (because it makes perfect sense), hear what he has to say!

Best Ever Tweet:

Scott McGillivray real estate background:

  • Host and executive producer of hit series, Income Properties on HGTV
  • He’s a skilled contractor, real estate investor and entrepreneur
  • Author of How to Add Value to your Home and regular appearances on The Today Show among many other media outlets
  • Passion is in educating homeowners to make smart renovation and investment decisions that deliver financial rewards
  • Based in XXX, XXX

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

Are you committed to transforming your life through Real Estate this year? If so, then go to http://www.CoachWithTrevor.Com and claim your FREE Coaching Session.  Trevor is my personal real estate coach and I’ve been working with him for years. Spots are limited, so be sure to do it now before all the spots are gone.

Have you tried REFM’s Valuate software yet? It makes investment analyses a breeze, and makes you look like you spent all week on them. Go to app.getrefm.com to sign up today.

Subscribe to Joe’s YouTube Channel here to learn multifamily and raising money tips:
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JF534:College Graduate Buys 16 Rentals in Six Cities Using CRAIGSLIST

She decided that her route to wealth would be through passive income, so she bought some rentals, and yes she did use craigslist. She also purchased these rentals in six different cities, but was confident that the numbers outside the local market would be better. Hear how she did it.

Best Ever Tweet:

Nicole Bryan real estate background:

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

Are you committed to transforming your life through Real Estate this year? If so, then go to http://www.CoachWithTrevor.Com and claim your FREE Coaching Session.  Trevor is my personal real estate coach and I’ve been working with him for years. Spots are limited, so be sure to do it now before all the spots are gone.

Have you tried REFM’s Valuate software yet? It makes investment analyses a breeze, and makes you look like you spent all week on them. Go to app.getrefm.com to sign up today.

Subscribe to Joe’s YouTube Channel here to learn multifamily and raising money tips:
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JF523: How to Build a Business from SCRATCH #skillsetsunday

It starts with a passion for…well what is your passion? What makes you tick? Our Best Ever guest has been with us before, and today he is sharing the true struggle and joy of building a business step by step. He covers important topics that you need to understand such as team building, decision making, and execution. This is one episode you cannot miss!

Best Ever Tweet:

Matthew Rodak’s background:

–          CEO of Fund that Flip, an online lender for residential flips

–          Previously, worked at leading commercial property insurance and risk management firms

–          Based in NYC, NY

–          Hear his Best Advice ever: https://joefairless.com/blog/podcast/jf-07-uncovering-why-real-estate-crowdfunding-is-so-hottt/

 

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

Are you committed to transforming your life through Real Estate this year? If so, then go to http://www.CoachWithTrevor.Com and claim your FREE Coaching Session.  Trevor is my personal real estate coach and I’ve been working with him for years. Spots are limited, so be sure to do it now before all the spots are gone.

Have you tried REFM’s Valuate software yet? It makes investment analyses a breeze, and makes you look like you spent all week on them. Go to app.getrefm.com to sign up today.

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

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JF499: This Trick Will Pay DOWN Your Mortgage in a Few Years

You have to pay attention in this episode, because our Best Ever guest is using a wise use of his equity to quickly speed up a mortgage payoff…interested? You gotta take notes!

Best Ever Tweet:

Jordan Goodman’s real estate background:

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

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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.

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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JF484: What Your Tax Strategy Lacks in the Multifamily Space

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

Ready to switch out the HVAC system on your triplex? Did you consider recording the expense? It’s time to take advantage of the tax benefits before the new year…you still have time! Hear our Best Ever guest spill tax secrets!

Best Ever Tweet:

Brandon Hall’s Real Estate Background:

  • CPA and owner at Hall CPA
  • Brandon leverages a combo of his Big 4 and personal real estate investing experience to save his clients thousands of dollars in taxes
  • He specializes in real estate and small biz tax and entity structuring
  • Based in Washington DC and his Best Ever book rec is How to Win Friends and Influence People
  • Say hi to him at hallcpallc.com
  • Bought his first property, a triplex, in North Carolina in 2015

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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JF478: From Live-In Duplex to 13 Rentals ($1.5 MM)—In Three Years!

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Our Best Ever guest was smart when he began investing in real estate. He purchased a duplexed via FHA financing and rented the other half while living in one side. He was able to pull funds from the equity in his property and purchase more rental properties in Chicago. You need to hear how did it so quickly! Tune in!

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John Casmon’s real estate background:

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

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JF467: The Next Crash and the Next Boom from a Real Estate Market Researcher #skillsetsunday

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You have to hear what’s going on with apartments right now! Our Best Ever guest is a real estate market cycle expert and he claims that there are two sides to a cycle, physical and financial. He shares how everything is connected and what you should know regarding the future. Listing in!

Best Ever Tweet:

Dr. Glenn Mueller’s real estate background:

  •  Over 35 years of real estate industry experience including 26 years of research
  • Professor for the Burns School of Real Estate and Construction Management at Denver University
  • Research experience includes real estate market-cycle analysis, real estate securities analysis and among others
  • He is an investment strategies at Dividend Capital Group where he provides real estate market-cycle research and investment strategy
  • Competitive water skier

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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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JF463: How to be Tax Time Smart with Rentals

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It about time…the end of 2015 is here and all of your assets are ready to be accounted for. Our Best Ever guests know what you are able to write off and how to save paying EVERYTHING to the IRS. They share some simple yet paramount tips to that you need to be sure your CPA knows…tune in!

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Amanda Han’s real estate background:

  • CPA and real estate investor based in Orange County, California
  • Director of Business Development at Keystone CPA
  • Real estate investor investing for 17 years
  • Investor in syndicated multifamily deals
  • Say hi at http://www.Keystonecpa.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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JF450: How to Take MASSIVE Control of Your Self Directed IRA

Taxes, taxes, and more taxes…you either quit making money or simply pay them…the end! Or…you can invest in real estate using a retirement account that allows you to forgo paying taxes, well there is much more to it than that. Hear our Best Ever guest shed some light on the recluse topic!

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Dmitriy Fomichenko’s Real Estate background:

  • Specializes in self-directed IRAs with checkbook control where you can bypass the custodian
  • Founder of Sense Financial
  • Say hi to him at Sensefinancial.com
  • Investor who has single family homes in various states
  • Used to have 3 4-plexes and is currently a broker in California
  • Immigrated from Russia in 1996 and has 8 other brothers
  • Based in Orange County, California

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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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JF436: How $$$ is CHEAP Right Now and Why You CANNOT Wait to Buy

What are you waiting for? MONEY IS CHEAP at record low interest rates and as an investor knows, it’s ALWAYS a good time to buy! Our Best Ever guest is a Residential Mortgage Loan Originator and hosts a well seasoned real estate radio show. He spills the beans by sharing his insights on the next interest rate rise…you gotta hear his vision for 2016!

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Joe Cucchiara’s real estate background:

•Mortgage planner with W.J. Bradley Mortgage Capital and been a residential mortgage loan officer for 15 years

•Radio host of the Real Estate Radio LIVE which broadcasts on 1220 KDOW AM from 3 – 4pm PST in the Bay Area

•www.Reradiolive.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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JF435: Buying 1st and 2nd Mortgages and…CROWDFUNDING!

President and founder of Crowd Venture, a platform geared to creatively purchase 1st or 2nd liens via crowd funding, Matthew Sullivan implements his technology background and builds a real estate investing system. He is highly enthusiastic about the crowd funding space, and has come from his home land of London to optimize his efforts. Hear his plans to grow via crowd funding!

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Matthew Sullivan’s real estate background:

  • Founder and president of http://www.crowdventure.com which is a crowdfunding platform
  • Based in Newport Beach, California
  • He used to be a director and trustee of the London Air Ambulance so he has a helicopter pilot licenses

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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.

What’s the Best Ever health plan for YOU?

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JF 409: 32 Unit Deal Closed by Wholesaler Only 3 Years In!

He does it all! Wholesale, seller finance, lease option, you name it! He not only invests in single family homes, but multifamily buildings as well. Our Best Ever guest is hungry for deals, and he’s well connected socially via social media, seminars, and meetups. Hear about his investing experience in his hot market in Charlotte and be inspired to repeat! Oh yeah…he’s only been at it for 3 years, so what are you doing?

Best Ever Tweet:

Kevin Angle’s real estate background:

  • Based in Charlotte, North Carolina
  • CEO of Right Angle Properties
  • Buys and sells single family and apartment communities all over the southeast
  • Been doing real estate investing for 3 years
  • He controls 5 single family properties and wholesaled 35 properties; he is also doing owner financing
  • Played semi-professional golf for 7 years
  • Say hi to him at https://www.facebook.com/RightAngleProperties

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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 396: Nuclear Pharmacist Funded 2 Million in Real Estate

He’s a pharmacist…and invests in real estate, IT IS POSSIBLE! Our Best Ever guest is an advocate of sharing what he has learned about real estate through his experiences with the investor community. He shares a construction project, info about his portfolio, and beliefs on being a self-sustained millionaire. Hear how he also funds local projects using his own money earned from his investments.

 

 

Best Ever Tweets:

 

 

 

 

Jeff Rabinowitz’s real estate background:

  • Based in Farmington Hills, Michigan very close to Detroit, Michigan
  • Began his professional career as a Nuclear Pharmacist in 1982
  • He then got his real estate license in 2003 several years after beginning a career as an investor
  • He owns and manages a portfolio of single family homes
  • He also buys building lots and shares in multifamily properties
  • He has funded over $2,000,000 worth of real estate transactions as a private lender
  • Say hi to him at https://www.facebook.com/damntherecession
  • realestate@pharmerjeff.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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JF394: Starbucks Employee to $1.35 MILLION in Real Estate

Our Best Ever guest is not one to use excuses…so her age as a mortgage lender and property management company owner didn’t hold her back! She has inched herself through each opportunity with immaculately leveraged deals. Using FHA, conventional, and commercial loans with very little down, she was able to climb up the equity ladder and refinance here and there. She is a young entrepreneur making a BIG impact in her REI career!

 

 

Best Ever Tweet:

 

 

Leave your ego at the door.

 

 

Ashley Wishinski’s real estate background:

 

  • Bought her first place when she was 21 years old and became a mortgage lender at age of 23
  • Owned property management company at 27 years old and today has a real estate portfolio worth $1.35M
  • 30-year old momma of twins based in Essex Junction, Vermont
  • Say hi to her at http://www.realestatefreedom.biz/ and download her FREE Deal Tracking spreadsheet
  • Ashley@realestatefreedom.biz

 

 

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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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JF393: Commercial Crowdfunding Part 4 of 4

We are privileged to hear from our final guest of our four part series dedicated to commercial crowdfunding! Patch of Land’s Co-Founder and CTO, Brian Fritton, is the technology expert of the firm. He has fine-tuned the autonomy and responsiveness of Patch of Land’s site. He shares many state of the art reporting data sources that his team was able to use to mitigate risk in the deal analysis and underwriting period. Brian is passionately building Patch of Land’s system to not only run seamlessly, but to also provide supreme value and accuracy to the real estate investor. This is one episode you cannot pass up!

 

Best Ever Tweet:

 

 

Brian Fritton’s background:

  • Co-Founder and CTO of Patch of Land
  • Just launched an engineering blog at http://www.Patchofland.com/engineering
  • Previously created enterprise grade API’s
  • Built many ecommerce functionalities for large companies, one being Ghiradelli

 

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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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JF391: Hidden Cash Flow Streams You NEED to Learn About

Not every deal is a home run, but you can find the hidden cash in there somewhere. Our Best Ever guest is handling the low to no equity deals and has made millions doing so! Beginning as a hair dresser, he cut out the middle class mindset and began investing…but he started by learning the basics first! He has accomplished a system of automation using a popular CRM. Hear about how he structures his deals and how he makes money today, monthly, and years down the road on one house!

 

 

Best Ever Tweet:

 

 

 

 

Ian Flannigan’s real estate background:

 

  • Successfully investing in real estate since 2006 and focused on building cash flow through a “hidden cash flow deal” strategy
  • Based in Dallas, Texas and you can say hi to him at http://www.freedominvestingacademy.com
  • Over 120 deals of wholesale and seller financing deals
  • Former hair dresser and current drummer in the Adam Nanez

 

 

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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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JF389: Watch Out for These Common Hard Money Mistakes

Hola! Our Best Ever guest is a private money lender from Salt Lake City, Utah and is fluent in Spanish because she lived in Costa Rica! From business startups to diversified investing, she is now focused on commercial capital lending for investors using refinance methods, and still lends to fix and flip projects. She shares the red flags in the hard money lending field…and how to find the right lender. Watch yourself when seeking capital, and be sure to ask the right questions!

 

Best Ever Tweet:

 

 

Corey Dutton’s real estate background:

  • Private money lender based in Salt Lake City, Utah
  • Fluent Spanish speaker
  • Founder of Private Money Utah
  • 50 Elite Women in the Mortgage Industry by Mortgage Professional America magazine
  • Say hi to her at http://www.privatemoneyutah.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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JF352: Why to Buy a Non-Performing Note Instead of Buying the Property

Today’s best ever guest is the note expert. He has had tremendous success buying non-performing notes, and explains to us exactly what it is he does and why YOU should buy a note instead of buying the property itself.

Best Ever Tweet:

Eddie Speed’s real estate background:

–           Based in Argyle, Texas and is the founder of NoteSchool

–           President of Colonial Funding Group and principal in a family office fund

–           Since 1980 Eddie has been focused  on strategies that positively impact the way the seller financing and non-performing note industry operates today

–           Closed on over 40,000 transactions

–           Say hi to him at http://www.freemeltdownbook.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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JF329: Use These Tricks to Quickly Determine the Cost of a Flip

Today’s Best Ever guest is a professional house flipper, and he certainly knows what he’s talking about! Listen up as he shares with us the math to use in order to quickly determine what a flip is going to cost you, and why he ONLY uses other people’s money to fund his deals.

Best Ever Tweet:

Kris Ontiveros’s real estate background:

–          Real estate agent based out of Phoenix, Arizona

–          Say hi to him http://www.Krisbuyshomes.com

–          Full-time house flipper and has done about 50 flips total since 2012

–          Done 18 flips and scheduled to do 25 total in 2015

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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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JF322: How to Use Your Life Insurance Policy to Fund Your Deals

Today’s Best Ever guest has some incredible creative financing to share with us-life insurance! We discuss the best ever practices to use to pull out from your life insurance policy to fund your deals, and why it may be the best way to fund your deals from here on out.

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Tom Rutkowski’s real estate background:

–          Based in Boynton Beach, Florida

–          Core of his business is teaching investors how to put their money at work in places at one time

–          Learn how to be your own bank strategy

–          Founder of Innovative Retirement Strategies – innovativeretirementstrategies.com

–          Was in the marine Corp and served for 8 years

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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

Real Estate Finance HQ – Do you want to get around the 80% loan to value rule and get line of credit for your business? Well, Jimmy Moncrief has the answer! Go to http://www.realestatefinancehq.com/bestever for your free negotiating guide.

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JF273: The KEY Things You Need to Look For In Your Investing Market

When today’s Best Ever guest isn’t running, biking and swimming he is fixing and flipping. He has had great success in this business using some great strategies that he shares with us including the key things you need to look for in the market of your next investment, and just why doing your own homework, as opposed to listening to others, is so important.

Best Ever Tweet:

Don’t get caught up in the trends.

Jose Hidalgo’s real estate background:

–          Co-founder Habitribe

–          20 year veteran of mortgage banking

–          Started Prospect Mortgage in 2008 running the largest private mortgage bank in the US in 2012

–          He is also a tri-athlete

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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

Empire Industries – Get your tenants, toilets and termoils managed today by investors just like you! The Best Ever property managers at Empire Industries are ready to offer you TWO FREE MONTHS of property management, so give them a call at 888-866-6727.

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JF265: EVERYTHING You Need to Know About Buying Notes

Get out your pen and paper to start taking notes on…NOTES. Today’s Best Ever guest shares with us everything you need to know about buying non-performing notes and once again, just how important doing YOUR due diligence is.

Best Ever Tweet:

Paul Birkett’s real estate background:

–          Founder of Automation Finance and is based in NYC, NY

–          It generates growth by returning non-performing assets to performing status

–          Buys pools of non-performing residential mortgages and works with the borrower to address the cause of their distress

–          Was in the Guinness Book of World Records for building and mailing the largest greeting card in the world

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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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JF249: Let’s Have Some Fun and Create Some FUNDS

Ever want to conduct more than one deal at a time, but just don’t have the funds to do it? Well, today’s Best Ever guest has the solution to that! Listen up, because we discuss EVERYTHING that you could ever need to know about a SBRE.

Best Ever Tweet:

Match your capital structure to your asset model.

Matt Burk’s real estate background:

–          Founder of Fairway America and is the foremost authority in the specialized field of non-instuitional sized, small balance real estate (SBRE)

–          He consults dozens of SBRE fund managers around the country

–          Based in Portland, Oregon

–          Loves to ride his road bike

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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 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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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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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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JF226: Why ONE Block Can Determine How Successful YOUR Next Investment Is

Listen up, because today’s Best Ever guest shares with us what the housing market looks like from Capitol Hill, some alternative mortgages you may not know about and what you can do NOW to maximize cash flow in the future.

Best Ever Tweet:

 Lorraine Woellert’s real estate background:

–          Senior Correspondent at Redfin based in Washington D.C.

–          She writes about the housing market and industry policy

–          Prior to joining Redfin, she was a reporter at Bloomberg News most recently covering      the U.S. economy

–          She is a real estate investor

–          She has appeared on Bloomberg Television, CNBC and C-Span

–          Say hi to her at https://www.redfin.com/blog/author/lorrainewoellert and on Twitter    @woellert

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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 at http://www.PatchOfLand.com/bestever

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JF225: Not an Accredited Investor? No Problem!

Go ahead and put on your ten-gallon hat and slip on your cowboy boots, because this Texan knows a little something about real estate. Learn why today’s Best Ever guest ended up in the Governor’s office while trying to start his crowdfunding company and how YOU can get your next deal done!

 Best Ever Tweet:

Nathan Roach’s real estate background:

–          Co-Founder of MassVenture Texas’ first approved equity crowdfunding  platform

–          Attorney and also has the distinction of being Rackspace’s 1st webmaster

–          Computer programmer turned attorney

–          Based in San Antonio, Texas

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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

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JF208: Advanced Strategies to MAXIMIZE Your Profits when you FLIP your FLIP

Learn advanced strategies for MAXIMIZING your profit when you FLIP your flip. This is part 4 of our 4 part series so if you haven’t listened to part 1, part 2 and part 3 then go do that now! Cause ya gotta know how to FIND, FUND and FIX your flip before you FLIP your FLIP.

Best Ever Flippin’ Panelists:

·        Nasir El-arabi, http://realestatedoru.com/

·        Justin Williams, http://www.houseflippinghq.com

·        Mike Hambright, http://www.flipnerd.com

·        Doug Cochrane, http://www.Patchofland.com

Some of the powerful strategies you’ll discover:

·        The keys to SUCCESSFULLY listing in the MLS

·        How to maximize your value for an appraisal

·        Importance of not over-rehabbing the property

·        Professional pics vs. cell phone pics – pros and cons  

·        Leveraging team members to help you make more moola

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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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JF203: A Unique TWIST to the Triple Net Lease Strategy that Solves a Major Problem

When presented with a bunch of non-performing properties, today’s Best Ever listener had to come up with a creative solution to rent the properties out while making money. He created a brilliant solution that you can implement right now!

Best Ever Tweet:

Tom Parker’s real estate background:

–        Chairman of the Board of Hutton Companies and President of Hutton Parker Foundation based in Santa Barbara, California

o   Hutton Companies is California’s 8th largest developer in California

o   Foundation supports community-based nonprofits throughout Santa Barbara County

–        Author of The $100 Million Secret – Why (and how) foundations should invest in COMMUNITY instead of Wall Street

–        Responsible for all fiscal and operational management of the Foundation and its holdings

–        Foundation owns and manages more than 250,000 square feet of office space in 17 buildings serving more than 90 local area nonprofit organizations

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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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JF201: Fixing Your Flip: Advanced Strategies

Learn advanced strategies for how to FIX your flip. This is part 3 of our 4 part series so if you haven’t listened to part 1 and part 2 then go do that now! Cause ya gotta know how to FIND and FUND your flip before you FIX your FLIP.

In today’s episode you’ll hear about how to FIX the best flippin’ deals.

Best Ever Flippin’ Panelists:

·        Nasir El-arabi, http://realestatedoru.com/

·        Justin Williams, http://www.houseflippinghq.com

·        Mike Hambright, http://www.flipnerd.com

·        Doug Cochrane, http://www.Patchofland.com

Some of the powerful strategies you’ll discover:

·        The secret to getting accurate contractor bids in ANY market

·        Creative use of technology to fix your flip

·        Why you don’t need to own a hammer to fix properties

·        The #1 best way to spend your time as a flipper

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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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JF198: Insider Scoop on Creating a Real Estate Fund

Discover how to create a real estate fund and the pros and cons that go along with it. Today’s Best Ever guest has created TWO of them and he wants to share his tips with YOU.

Best Ever Tweet:

Adam Fountain’s real estate background:

–        Managing Director at Broadmark Capital based in Seattle, Washington

–        Say hi to him at http://www.broadmark.com/index.html

–        They work with high-net worth investors and have created a high-yield real estate lending product for them to invest in

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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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JF194: Here’s How to FUND Your Next FLIP_Episode 2 of 4

Learn advanced strategies for how to FUND your next FLIP. This is part 2 of our 4 part series so if you haven’t hear our episode #1 go check it out now because you need to know how to find the darn thing before you fund it!

In today’s episode you’ll hear about how to FUND the best flippin’ deals.

Best Ever Flippin’ Panelists:

·        Nasir El-arabi, http://realestatedoru.com/

·        Justin Williams, http://www.houseflippinghq.com

·        Mike Hambright, http://www.flipnerd.com

·        Doug Cochrane, http://www.Patchofland.com

Some of the powerful strategies you’ll discover:

·        Should we focus on the interest rate? NOPE. Learn why…

·        Why it’s important to befriend the raggedy pick-up truck guy

·        Different sources of finding funding for your deals

·        Why it’s important to focus on getting deals and NOT money  

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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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JF193: Pros and Cons of REIT Investing

Want to learn more about REITs and how to diversify your portfolio? Today’s Best Ever guest is about to tell you how!

Best Ever Tweet:

Matt Reiner’s real estate background:

–        Co-founder and managing partner of a digital finance advisory firm, Wela

–        Been in the business about 8 years

–        Certified Financial Planner based in Atlanta, Georgia

–        Say hi to him at www.yourwela.com  

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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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JF187: Use These Advanced Strategies for Finding Homes to Flip

Welcome to the Best Flippin’ Series Ever presented by Patch of Land! It’s a 4-part series that will unlock advanced strategies for finding, funding, fixing and flipping deals.

In today’s episode you’ll hear about how to find the best flippin’ deals.

Best Ever Flippin’ Panelists:

–        Nasir El-arabi, http://realestatedoru.com/

–        Justin Williams, http://www.houseflippinghq.com

–        Mike Hambright, http://www.flipnerd.com

–        Doug Cochrane, http://www.Patchofland.com

Some of the powerful strategies you’ll discover:

–        The simple and powerful 1/3 rule

–        How to stay in touch in relevant ways with prospects

–        The importance of being able to tie up a deal

–        All the ways to find good deals and the most effective

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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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JF166: How to Do a Crowdfunded Deal from Start to Finish

What’s it like to do a crowdfunded deal? What can you expect as a borrower who gets money from the crowd?

Here’s who we’re talking to today:

Omar Skyers’s real estate background:

–        Partner at SRB Group based in Newark, New Jersey

–        Been in real estate since 1999 and started flipping properties in 2007

–        Currently has 8 deals on http://www.patchofland.com

–        You can view his deals here: https://patchofland.com/srb-group-llc.html

Doug Cochrane’s real estate background:

–        SVP of Underwriting and Acquisitions at Patch of Land, a debt based real estate crowdfunding lender based in Los Angeles

–        Over 20 years of real estate experience as a senior loan officer, underwriter, appraiser and investor

–        Has originated and underwritten nearly $300,000,000 in residential and commercial loans

And here’s a taste of the treats you’ll get:

–        Why a flipper went from hard money to crowdfunding

–        The beautiful partnership that results from the experience

–        Side-by-side comparison of hard money vs. crowdfunding

–        A surprising part of the process with crowdfunding

–        Step-by-step process for how to get set up on a crowdfunding platform

–        The crowdfunding platform’s role in the process

–        Importance of getting started in the process NOW

–        Reporting requirements for borrowing money from a crowdfunding platform

HOT OFF THE PRESS: Download this White Hot Market Report for Newark, New Jersey:  http://landing.patchofland.com/patch-of-land-white-paper-the-newark-report

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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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JF162: Insider Scoop on Blind Pool Funds AND What You Don’t Know About Note Buying

Today’s Best Ever guest shares how blind pool funds work and gives you info on next level financing advice based on his extensive experience in the real estate finance industry.

Best Ever Tweet:

Dion DePaoli’s real estate background:

–        CEO at Secure Debt Exchange Systems based in Miami, Florida

–        Direct experience with real estate and mortgage investment fund management, asset management and disposition

–        Over 15 years in real estate finance and you can say hi to him at http://www.sdxs.us/

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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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JF159: The Future of Crowdfunding and What It Means to YOU

Welcome to the Future.

It’s one thing to predict the future. It’s another to predict it THEN give actionable advice on how to take advantage of the prediction.

In episode 2 of 4 of our Best Crowdfunding Crash Course Ever series, today’s Best Ever panel discusses the future of crowdfunding AND what you should do about it in order to grow your business.

Let’s go!

Best Ever Panelists:

–        Jason Fritton, Co-Founder and CEO, Patch of Land

–        Jorge Newbery, Founder and CEO, American Homeowner Preservation

–        Steve Cinelli, Founder and CEO, PRIMARQ

–        Lew Feldman, Partner in Goodwin Procter’s Real Estate Capital Markets Group

Here’s the futuristic stuff you’ll discover in today’s episode…

–        Bold predictions about the expansion of crowdfunding

–        The two things that could kill all the crowdfunding momentum

–        How states will help lead the way to new crowdfunding legislation

–        The billion dollar lesson from the original crowdfunding platforms

–        The rise of international investing and its implications

And, if you didn’t hear listen to Episode 1 of this series that gives you answers to EVERY crowdfunding question then go check that out now!

Want a treatski?? Unlock the Top Ten Answers to the Top Ten Questions asked about crowdfunding by downloading it for FREE here: http://landing.patchofland.com/white-paper-top-ten-answers-to-the-top-ten-crowdfunding-questions

This episode is bought to you by 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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JF158: Achieve Success at an Auction…Insider Tips Revealed!

Hear directly from an auctioneer as he gives you his Best Ever advice to be successful at an auction. Going Once…Going Twice…Let’s go!

Best Ever Tweet:

John John Genovese’s real estate background:

–        Owner of Malama Auctions based in Hawaii and specializes in Real Estate auctions

–        Host of the popular podcast called Fundraiser Solutions which helps nonprofits improve the quality and financial results of their events

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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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JF125: What’s the Smallest Loan Size You Can Get?

Today’s Best Ever guest specializes in loans around 90k but have you ever wondered how small of a loan can you actually get from a traditional lender? He reveals that and much, much more.

Tweetable quote:

Steve Binghaus’s real estate background:

–        Over 24 years of experience in the mortgage industry

–        Branch Manager at Security National Mortgage Company based in Everrett, Washington

–        Originates about 300 loans a year

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

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Sponsored by Cozy – Simple, free online rent payments, tenant screening and credit checks. Get Cozy for free at cozy.co

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JF123: Want a Loan? MUST Listen.

Today’s Best Ever guest tells you the difference between Fannie May and Freddie Mack and how to get approved for the each of the programs.

Tweetable quote:

Shaun Weeks’s real estate background:

–        Outside Loan Officer for Banc Home Loans and he is based in Ontario, California

–        Been in the industry for 10 years and have expensive knowledge of FHA, Fannie and Freddie loan programs

–        Licensed in 48 states and does both purchase and refinance loans

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JF 107: Presenting…The World’s Fastest Refinance!

All we do is…set refinance records…and win! 🙂

Today’s Best Ever guest shares how he set an unofficial world record on the fastest refinance on a property, why it happened and how to avoid in the future. Plus, we talk about his experience growing up in the real estate business and his company’s focus on multifamily investing.

Let’s go!

Tweetable quote:

Nick Keesee’s real estate background:

–        Founder of Nile Capital, focused on multifamily family investing

–        Real estate investor who has property in the Detroit area

–        Based in Novi, Michigan about 30 min from Detroit

–        4th generation real estate investor

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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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JF98: Location, location, location…NOT!

Location, location, location…NOT! Today’s Best Ever guest tells you how to make money from properties that nobody else will touch.

Tweetable quote:

Shaun Reilly’s real estate background:

–        Real estate investor since 2007 based in Newton, MA

–        Have 10 long-term holds

–        Since 2011 been doing rehab flips for current income and to fund purchase of more long-term holds

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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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JF95: Boat and Mini Storage Unit Investing…and SOOOO Much More!

You’re about to have a lot of fun learning about boat and mini storage unit investing, seller financing, a book I immediately bought after he mentioned it and two ways to become financially free in 7 – 10 years, plus much, much, much…much more.

Tweetable quote:

Mitch Stephen’s real estate background:

–        Purchased over a 1300 properties in the last decade

–        Say hi to him at http://www.ownerfinancepro.com (affiliate link)

–        Founder of the San Antonio Real Estate Investors Association  which had over 800 members

–        Owner of 1100 boat and mini-storage doors around the lake where he lives

–        Author of My Life and 1000 Houses: Failing Forward to Financial Freedom and My Life & 1000 Houses: 200+ Ways to Find Bargain Properties

–        Based in Canyon Lake, Texas

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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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JF63: Revealing Five Profitable Exit Strategies for Note Buying  

Note buying. Buying notes. And more note buying…you want to hear from a note buying expert? Listen to today’s Best Ever guest as he shares how to do the due diligence on note buying and the reveals five exit strategies for note buying.

Tweetable quote:

 

Val Sotir’s real estate background:

–        Founder of Watermark Capital Partners (http://www.watermarkcapitalfund.com/)

–        In 2009 he was featured on the cover of Forbes magazine as one of the mortgage survivors on Wall Street

–        10 years of experience as a stock broker

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 Sponsored by: Door Devil – visit  http://www.doordevil.com  and enter “bestever” to get an exclusive 20% discount on your purchase.

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JF61: But I Don’t Wanna Do My Homework!

Today’s Best Ever guest brings a different perspective to the show than what’s typical because her background isn’t exclusively focused on real estate. She’s a certified financial planner and talks to you about her Best Ever advice.

Tweetable quote:

Ashleigh Brooker’s real estate background:

–        Certified Financial Planner for A.J. Brooker Financial Associates in Columbia, SC

–        Guest Columnist for The State newspaper

–        Provides wealth management for professionals, business owners and families

–        Real estate investor and owner of a rental property

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Sponsored by: Door Devil – visit  http://www.doordevil.com  and enter “bestever” to get an exclusive 20% discount on your purchase.

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JF 45: Need a Loan for a Multifamily Property? Then You Must Listen to This.

What of liquidity do you need in order to qualify for a typical loan? What’s the difference between equity and post-equity liquidity? What do you need to qualify for the loans? Learn this and much more as today’s Best Ever guest shares with you his advice.

Tune in to listen to his Best Real Estate Investing Advice Ever!

 Paul Peeble’s real estate background:

–        Closed on over 4,000 real estate loans and over $250MM in the last 12 months

–        Over 25 years experience arranging financing for borrowers and insititutioanl clients

–        Closed on over $1BN in real estate transactions

–        National underwriter and principal at Old Capital Lending (http://oldcapitallending.com/)

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 Sponsored by: Door Devil – visit http://www.doordevil.comand enter “bestever” to get an exclusive 20% discount on your purchase.

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