5 Talents Podcast - How To Build Wealth Through Real Estate

Dusten Hendrickson believes that many real estate investors still underestimate the power of passive investing. That’s why he’s helping his clients invest passively using his creative strategies and his years’ worth of experience in the industry that started in 2003. He calls passive income from real estate “mailbox money,” which he will break down in this episode. Mailbox money can help investors free up their time and do the things they want in life. 

Let’s listen to Dusten and create the ultimate lifestyle with real estate! 

[00:01 - 07:03] Opening Segment

• Let’s get to know Dusten Hendrickson
• He walks us through his path to real estate

[07:04 - 17:01] Beyond Assets Under Management

• How Dusten identified his strengths
• Look beyond the assets under management
  • Listen to Dusten’s tips 
• The power of passive investments according to Dusten

[17:02 - 30:23] Mailbox Money And More 

• Dusten breaks down mailbox money and how you can earn it
• Here are the reasons you should syndicate in real estate
• Do you want to earn money while doing almost nothing?
  • Listen to Dusten

[30:24 - 40:59] From Thinking to Doing 

• Don’t be a skeptic according to Dusten
  • Learn to trust and verify 
• Here’s Dusten’s reminder for investors in looking for a deal
• How to shift from thinking to doing
  • Listen to Dusten’s tips 

[41:00 - 50:59] Closing Segment

• Connect with Dusten
  • Links below
• Accelerate the growth of your net worth by giving more
• Final words from Dusten and me

Tweetable Quotes: 

“You should always partner with someone that's the complete opposite of you before you bring in anyone else that’s like you.“ - Dusten Hendrickson

“...you have the chance of making a lot more money when you team up with good operators.” - Dusten Hendrickson

Resources mentioned:

• Book: Now, Discover Your Strengths

------------------------------------------------------------------------------------------

Call 605.691.1933 to reach out to Dusten or connect with him on LinkedIn and Facebook. Check out his website.

Guest email: [email protected] 

Connect with me:

https://www.5tcre.com/

Facebook

LinkedIn

Instagram

Watch 5T CRE on YouTube

Leave us a review and receive your free ebook

Email us --> [email protected]

Support the show

John Manes never went to college and had to go to 3 schools in his senior year just to graduate from high school. He started his real estate career with only 160 dollars. He has many excuses to give up on his dreams, yet he persevered.

Today, he is the Chief Executive Officer of Pinnacle Storage Properties, one of the fastest-growing storage companies in the US. He has invested in more than $120 million on top of decades worth of experience in the real estate space. Do you want to know how he achieved all these feats? 

Let’s listen to John and learn more about passive investing in self-storage! 

[00:01 - 05:18] Opening Segment

• Let’s get to know John Manes
  • How 160 dollars started his real estate career
  • Spent 17 years in retail

[05:19 - 13:13] Learning Real Estate 

• How John became a 100-million dollar guy in real estate
• The 2 ways to learn real estate according to John 
• John shares his thoughts about passive investing

[13:14 - 23:21] Compounding Your Investments 

• The power of compounding according to John 
  • Why you should invest NOW 
• What you should keep in mind in passive investing
• John doesn’t really invest in deals 
  • He explains 

[23:22 - 33:16] Educating Yourself  

• Formal education vs. knowledge
  • John weighs in 
• Why self-storage is one of the best assets available 
• Connect with John. Links below

[33:17 - 35:19] Closing Segment

• Final words from John and me

Tweetable Quotes: 

“When you want to go learn about real estate, I always say you can either buy it or you can go learn it.“ - John Manes

“Bluntly, we invest in people. We don’t invest in deals.“ - John Manes

Resources mentioned:

• Life Storage
• Tony Robbins
• Jake & Gino
• Marques Ogden
• Lorenzo Gomez III
• Jamie Hong

------------------------------------------------------------------------------------------

Call 210.818.1496 to reach out to John or connect with him on LinkedIn and Facebook. Visit Pinnacle Storage Properties and their LinkedIn, YouTube, and Facebook pages. 

Guest email: [email protected]

Connect with me:

https://www.5tcre.com/

Facebook

LinkedIn

Instagram

Watch 5T CRE on YouTube

Leave us a review and receive your free ebook

Email us --> [email protected]

Support the show

Our awesome guest for today is Benjamin Kogut, Partner in Investor Relations at HJH Investments. Prior to commercial real estate syndication, Benjamin was a real estate broker for over 15 years, passionate about helping investors make wise decisions. In this episode, he will break down the process that helped his team acquire over $300 million in assets under management. Benjamin will also talk about a few creative strategies to gain tax advantages from real estate. 

Let’s listen to Benjamin and learn more about commercial real estate syndication! 

[00:01 - 04:13] Opening Segment

• Let’s get to know Benjamin Kogut
  • Real estate broker for 15+ years 
  • Shifted to real estate syndication 

[04:14 - 14:25] Going Above and Beyond

• The main thing to consider in real estate brokerage
• The secrets to $300M+ in assets under management
• Learn this real estate advice from Benjamin you can apply now! 

[14:26 - 24:00] Not Taking It Personally

• Benjamin breaks down this $27M deal they closed 
• Listen to Benjamin’s mentality that you might want to apply too
  • Why a certain level of indifference is okay 
• Benjamin gives us a sneak peek at his book!
  • Link below

[24:01 - 32:10] Being Financially Literate  

• The 4 rules of cash that Benjamin learned 
• How to be financially literate in real estate investing
  • Hear Benjamin’s advice
• Connect with Benjamin. Links below

[32:11 - 39:25] Closing Segment

• Learn these creative tax advantage strategies in real estate 
  • Cost segregation 
  • Accelerated depreciation
  • Bonus depreciation
• He walks us through his very first real estate deal 
• Final words from Benjamin and me

Tweetable Quotes: 

“I’m not here to push anybody into a deal. Truly, truly, I’m not. I’m here to educate...” - Benjamin Kogut

“Being financially literate is extremely important as an industry in this business.” - Benjamin Kogut

Resources mentioned:

• William A. Sahlman

------------------------------------------------------------------------------------------

Follow Benjamin on LinkedIn, Facebook, Twitter, and Instagram. Visit HJH Investments and their LinkedIn, Instagram, and Facebook pages. 

Guest email: [email protected] 

WATCH OUT for his upcoming ebook! 

Connect with me:

https://www.5tcre.com/

Facebook

LinkedIn

Instagram

Watch 5T CRE on YouTube

Leave us a review and receive your free ebook

Email us --> [email protected]

Support the show

Monika Jazyk and Lucy Moy are passionate about helping other people building generational wealth through real estate, but first and foremost, they are proud moms of their children. Monika and Lucy join us today to break down the power of networking, the true meaning of wealth building, and the steps taken by successful real estate investors. You’ve probably heard about the true meaning of wealth for Monika and Lucy because it has been mentioned by a renowned personality already. 

Let’s listen to Monika and Lucy to learn the true meaning of wealth-building! 

[00:01 - 06:20] Opening Segment

• Let’s get to know Monika Jazyk and Lucy Moy
  • Proud moms
  • Passionate real estate investors 

[06:21 - 18:08] The Power of Networking 

• Why learning too much keeps us back according to Monika
  • Focus on one strategy at a time instead
• Listen to our interesting exchange about networking
  • The success of your network is your success too!

[18:09 - 31:02] True Meaning of Wealth Building 

• Listen to Lucy to avoid the Shiny Object Syndrome
• Are you sure you don’t have money to invest?
  • Listen to Monika
• The true meaning of wealth building

[31:03 - 37:24] What Sets Apart Successful Investors 

• Monika talks about the services of Real Property Investments 
• Connect with Monika and Lucy
  • Links below
• Don’t miss their reminder for real estate starters! 

[37:25 - 42:27] Closing Segment

• Why investors don’t progress in real estate 
• Final words from us

Tweetable Quotes: 

“Our true success was not achieved until we stopped and focused on one strategy at a time.” - Monika Jazyk

“My most successful clients are actually not investing the traditional way.” - Lucy Moy

Resources mentioned:

• Monika’s book: Real Estate Mistakes: Our Mistakes, Your Success
• Tony Robbins

------------------------------------------------------------------------------------------

Connect with Monika on LinkedIn, Facebook, Twitter, and Instagram. Reach out to Lucy on LinkedIn. Visit Real Property Investments and their Instagram, Facebook, and YouTube pages. 

Guest email: [email protected] and [email protected] 

Connect with me:

https://www.5tcre.com/

Facebook

LinkedIn

Instagram

Watch 5T CRE on YouTube

Leave us a review and receive your free ebook

Email us --> [email protected]

Support the show

“Son of a pimp and an orphan.” These words will greet us when you search JeVon McCormick’s name on Google. And he’s not shy about it. JeVon joins us in this episode to talk about the role of mentors in our lives and the life pillars we should surround ourselves with. He also shares some tips for leaders to establish a culture that leads to successful businesses.  

Let’s listen to JeVon and learn more about company culture! 

[00:01 - 05:35] Opening Segment

• Let’s get to know JeVon McCormick
  • Publishing giant
  • Renowned speaker 

[05:36 - 16:23] Put People First Always 

• From JeVon to JT and back to JeVon
  • Finding his identity
• The importance of diversity in a company
• Don’t miss JeVon’s leadership advice! 

[16:24 - 26:35] Serve Your Own People

• JeVon talks about the “tribe culture” in his company
• How he handled the D’s and F’s on his grade sheets 
• Why mentors are important, regardless of the industry 

[26:36 - 32:03] Share Your Mistakes 

• The best mentors do this thing
• We talk about the power of owning your own story 

[32:04 - 39:30] Find Your Pillars 

• Don’t believe you’re average
  • JeVon tells us how 
• Take these steps to find your pillars in life

[39:31 - 46:33] Closing Segment

• He talks about the services his publishing company offers   
• Connect with JeVon. Links below
• Final words from JeVon and me

Tweetable Quotes: 

“I learned more from my mistakes than any of my successes.” - JeVon McCormick

“No one works for me. People work with me. I’m no one’s boss.” - JeVon McCormick

Resources mentioned:

• Nassim Taleb
• David Goggins
• Rackspace
• Lorenzo Gomez IIII

------------------------------------------------------------------------------------------

Follow JeVon on LinkedIn, Facebook, Twitter, and YouTube. Visit Scribe Media and their Twitter, LinkedIn, Instagram, Facebook, and YouTube pages. 

Connect with me:

https://www.5tcre.com/

Facebook

LinkedIn

Instagram

Watch 5T CRE on YouTube

Leave us a review and receive your free ebook

Email us --> [email protected]

Support the show

Work hard, but make your money work harder for you. That’s what Adam Doran and I have talked about in this episode. We already know real estate can be a valuable source of passive income, but Adam will tell us why life insurance can make our real estate investing better--or specifically, more profitable. 

Adam is a wealth advisor at Prevail Innovative Wealth Strategies, helping clients build sustainable, tax-advantaged wealth and long-term income. Before jumping into real estate, he was a police officer for 16 years. 

Let’s listen to Adam and know why life insurance and real estate go hand-in-hand! 

[00:01 - 06:19] Opening Segment

• Let’s get to know Adam Doran 
• His path to real estate after 16 years as a police officer

[06:20 - 15:45] Investments of Wealthy People 

• Where do wealthy people invest their money?
• He recalls his first year working in real estate
• Adam tells us the perks of multifamily 

[15:46 - 27:55] Term vs. Whole Life Insurance 

• The good problem to have in real estate for Adam
• Term insurance vs. whole life insurance 
  • Adam weighs in 
• How to leverage your insurance policy 
  • A tax-efficient vehicle to build your family legacy 

[27:56 - 37:22] Tax-Free Non-Reportable Retirement Income 

• How to build a foundational capital strategy
  • Adam explains 
• Here are creative investing ideas from Adam you should hear
• How to get tax-free income in your retirement

[37:23 - 40:30] Closing Segment

• Connect with Adam. Links below
• Final words from Adam and me

Tweetable Quotes: 

“A lot of the real estate investor clients I work for, family legacy is a big piece.” - Adam Doran

“Frankly, tax-free money that you don’t have to report to the IRS as an income in retirement trumps money that you have in a 401(k)...” - Adam Doran

------------------------------------------------------------------------------------------

Call 913.548.1447 to connect with Adam or follow him on LinkedIn. Visit Prevail Innovative Wealth Strategies and their Facebook, LinkedIn, and YouTube pages. 

Guest email: [email protected] 

Connect with me:

https://www.5tcre.com/

Facebook

LinkedIn

Instagram

Watch 5T CRE on YouTube

Leave us a review and receive your free ebook

Email us --> [email protected]

Support the show

The daily lives of a real estate developer and investor have some overlaps, but there are key differences that distinguish them from each other. Scott Choppin, Founder of the Urban Pacific Group of Companies, will walk us through his journey as a real estate developer and talk about a new housing innovation called Urban Town House, from which they have a historical internal rate of return of 22.66%. 

Let’s jump into the episode and listen to the daily life of a real estate developer!

[00:01 - 07:24] Opening Segment

• Who is Scott Choppin?
• His path to real estate 

[07:25 - 22:12] Setting Yourself Apart From The Rest 

• Why entrepreneurial skills should be learned early
  • Scott explains 
• The difference between a real estate developer from an investor
• How he makes himself different from other developers 

[22:13 - 36:44] Creating Stories with Social Impact 

• Scott talks about his approach in real estate development 
• How Scott discovered what he calls a “social impact story”
• Don’t miss Scott’s tips to choose your market 

[36:45 - 43:02] Finding Networks of Capability 

• What are “networks of capability” and why should you know it? 
• GET A FREE ebook from Scott
  • Link below 
• Connect with Scott. Links below

[43:03 - 52:14] Starting in Real Estate Successfully 

• Real estate developer or real estate investor?
  • Scott will help you choose 
• Should you be an intern for free?
  • Scott weighs in 

[54:15 - 54:50] Closing Segment

• Final words from Scott and me

Tweetable Quotes: 

“Get a mentor, be an intern, or do a joint venture.” - Scott Choppin

“Learn from other people’s mistakes...avoid your own.” - Scott Choppin

Resource mentioned:

• Apartments.com
• Craigslist
• Zillow
• CoStar
• LinkedIn article: 6 Ways to Build a Career in the Real Estate Development Business
• Michael Blanc
• Cutco

------------------------------------------------------------------------------------------

Connect with Scott on LinkedIn, Facebook, Twitter, and Instagram. Visit The Urban Pacific Group of Companies to learn how Scott’s team implements the Urban Town House innovation! 

FREE ebook from Scott here.

Guest email: [email protected]

Connect with me:

https://www.5tcre.com/

Facebook

LinkedIn

Instagram

Watch 5T CRE on YouTube

Leave us a review and receive your free ebook

Email us --> [email protected]

Support the show

Steeve Breton is the Founder of Velocity Capital, LLC, which guides real estate investors to financial freedom with quality investments and education. Like me, Steeve had worked in the information technology space before jumping into real estate. He will talk about this successful jump and how you can do it too, his unique approach in real estate investing, and the steps you can take to make the most out of this industry. 

Let's listen to Steeve and learn how to retire from work with real estate investments! 

[00:01 - 05:57] Opening Segment

• Who is Steeve Breton?
• His transition from IT  to real estate 

[05:58 - 17:06] Real Estate Syndication  

• How to be successful in a real estate syndication
  • What you can do when you syndicate
• Find a property and build your team at the same time 
  • Steeve tells us how 
• Ask yourself, “What value do you bring?”

[17:07 - 27:57] The Most Valuable Asset 

• Steeve’s motivations for trying to make as much money as possible
• We talk about the most valuable asset you can have
• How he applies his IT skills to real estate 

[27:58 - 36:34] Numbers To Find in a New Market 

• What to look for in a market before investing
• Steeve’s criteria for choosing the right partner 
  • Build relationships better with these tips 
• Connect with Steeve. Links below

[36:35 - 44:18] Opportunities Before Offers 

• Don’t miss Steeve’s tips for real estate investors! 
  • When do you need a mentor? 
• Why you should say “yes” more often
  • Opportunities > offer 

[44:19 - 46:18] Closing Segment

• Final words from Steeve and me

Tweetable Quotes: 

“I just wanna make as much money as possible, not necessarily for the love of money, but more about ‘what can you do with that money?’” - Steeve Breton

“The more grateful you are, the more good things come.” - Steeve Breton

Resource mentioned:

• Rackspace
• Data USA
• US Bureau of Labor Statistics 
• USA.com
• BestPlaces

------------------------------------------------------------------------------------------

Connect with Steeve on LinkedIn and Facebook. Visit Velocity Capital to learn how Steeve’s team can help you attain financial freedom with real estate. 

Guest email: [email protected]

Connect with me:

https://www.5tcre.com/

Facebook

LinkedIn

Instagram

Watch 5T CRE on YouTube

Leave us a review and receive your free ebook

Email us --> [email protected]

Support the show

Real estate runs in Shannon Robnett’s blood. He belongs in a family involved in real estate--5 generations now--and continues to pay it forward in the last 40 years, focusing on the multifamily and industrial spaces as a developer. 

His decade’s worth of experience in real estate led him to participate in over $200 million in construction projects including fire and police stations, schools, and industrial and mini storages. He didn’t do all this by himself, and that’s what he’s going to talk about today. 

Let's listen to Shannon to know how to get started in real estate syndication! 

[00:01 - 06:14] Opening Segment

• Let’s get to know Shannon Robnett
  • 5 generations in the real estate 
• College is an option, not a be-all, and end-all

[06:15 - 17:06] The Ultimate Value-Add 

• We talk about the “ultimate value-add” in real estate 
• What you should do if you want to bring a value-add
• Shannon wants you to remember this real estate advice 

[17:07 - 30:23] A Community of Multifamily Syndicators 

• Shannon talks about his approach in real estate 
• He gives interesting insights about real estate partnerships 
  • Don’t focus on everything
• Shannon’s tips to start investing in real estate 

[30:24 - 40:44] Success in Real Estate

• The belief that you can succeed in real estate
• Connect with Shannon! Links below
• Shannon shares 2 books you should read!

[40:45 - 44:35] Closing Segment

• Final words from Shanon and me

Tweetable Quotes: 

“If I get people involved in the project to do what I don’t do or do what I don’t like to do, then maybe it’s gonna help me.” - Shannon Robnett

“If you’re the smartest guy in the room, you’re in the wrong room.” - Shannon Robnett

“The world is changing, but real estate [is not].” - Shannon Robnett

Resource mentioned:

• Book: Rich Dad Poor Dad
• Apartments.com
• Grant Cardone
• Book: Never Split the Difference
• Book: Money Master the Game
• Book: The Richest Man in Babylon
• Jim Rohn

------------------------------------------------------------------------------------------

Connect with Shannon on his website and social media pages: LinkedIn, Facebook, YouTube, and Instagram. Listen to this podcast.

Guest email: [email protected]

Connect with me:

https://www.5tcre.com/

Facebook

LinkedIn

Instagram

Watch 5T CRE on YouTube

Leave us a review and receive your free ebook

Email us --> [email protected]

Support the show

Chad Wittfeldt only started in real estate four years ago but has done over 350 units already.  He doesn’t stop there though. Currently, he works as a brand development consultant who helps businesses take the next level and turn them into brands that convert. 

Today, he will talk about this creative 4-step process to attract investors. If you think that you should be trustworthy first, then you need to listen to this episode. 

Let's listen to Chad and know the steps to attract investors and build a brand that converts! 

[00:01 - 04:44] Opening Segment

• Let’s get to know Chad Wittfeldt
• How a mountain biker led him to real estate 

[04:45 - 14:23] From Chasing to Attracting 

• The 2 main components of syndication for Chad
• How to pivot from chasing to attracting clients 
• Chad shares his interesting approach in looking for partners 

[14:24 - 25:47] The Steps to Attract Investors 

• We talk about the importance of having avatars 
• The 3 steps to take for people to invest in you
• He tells us why he enjoys brand development 

[25:48 - 31:56] The Power of Automated Emails 

• Are you ready to build a brand that converts? 
  • Reach out to Chad on the links below
• Chad gives his thoughts about the power of automated emails 

[31:57 - 35:18] Closing Segment

• Chad’s parting advice for you
• Final words from me

Tweetable Quotes: 

“If you’re trying to speak to everybody, you’re gonna end up speaking to nobody.” - Chad Wittfeldt

“If you’re not sharing anything about your life, your passions, your hobbies, your goals outside of real estate, you’re missing a huge audience that you otherwise would connect with.” - Chad Wittfeldt

Resource mentioned:

• Rackspace
• Adam Adams

------------------------------------------------------------------------------------------

Connect with Chad on LinkedIn and Facebook. Check out BlueSpruce Holdings and their Facebook, YouTube, and LinkedIn pages. 

Guest email: [email protected]

Connect with me:

https://www.5tcre.com/

Facebook

LinkedIn

Instagram

Watch 5T CRE on YouTube

Leave us a review and receive your free ebook

Email us --> [email protected]

Support the show