5 Talents Podcast - How To Build Wealth Through Real Estate

Reid Bennett, CCIM is National Council Chair of Multifamily Properties for SVN International and a Senior Vice President for SVN - Chicago Commercial. He is a licensed managing broker, focusing primarily on selling apartment communities across the Midwest and teaming with members of his council to serve clients across the country in over 150 markets. Reid prides himself on understanding the nuances and analysis of multiple unit apartment dwellings & low-income Section 8 & Section 42 communities. In 2018, Reid ranked 25th out of over 1,200 SVN advisors worldwide, receiving the Partners Circle Award from SVN.

Let’s all welcome, Reid, and learn how we can attain financial freedom from multifamily investing.

[00:01 - 10:53] Opening Segment

• I introduce our guest, Reid Bennett
• Reid shares his real estate background
  • He talks about their approach in real estate

[10:54 - 18:04] Client Testimonials

• Reid talks about the mistakes you should avoid in real estate
  • Consider local nuances
  • Study state taxes
• He shares some tips to pick a good real estate advisor
  • Who are the best references you should ask? 
• Work with us! Visit 5tcre.com/invest

 [18:05 - 29:52] Financial Freedom from Multifamily 

• Reid tells us why multifamily is easier than other asset classes
• We talk about the “magic” of multifamily
• Reid shares some nuggets about multifamily you don’t want to miss!

[29:53 - 35:55] Multifamily The Way To Go

• Reid talks about making housing affordable for the general public
• He tells us the crucial role of multifamily in the world today

[35:56 - 40:13] Closing Segment 

• Connect with Reid. See links below 
• Find advisors with good track records
• Final words from Reid and me

Tweetable Quotes:

“If one person has a bad experience with somebody, they’re typically not quiet about it.” - Reid Bennett

“Multifamily is the place to be ... everybody now can [go to the] office virtually … everybody’s buying virtually. You just can’t live virtually yet. You need a place to stay. That’s why multifamily is gonna be here to stay forever” - Reid Bennett

Resources Mentioned:

• CCIM Institute

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Connect with Reid on LinkedIn or call him at 773.251.7342. Visit their company online and on Facebook, Google, YouTube, Twitter, and LinkedIn.

Guest Email: [email protected]

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Today’s guest is a huge believer in the power of connecting people and adding value. He earned his real estate license when he was just 18 years old and remains as passionate as ever to the business. He was a Rookie Realtor of the Year and also owns a master’s degree in real estate. Currently, he manages 750 doors and owns a construction company and a real estate brokerage with 40 agents.

Let’s all welcome, Matt Teifke from Teifke Real Estate, and learn the difference between a 7-million- and a 200-million-dollar business.

[00:01 - 10:21] Opening Segment

• I introduce our guest, Matt Teifke
• Matt shares his personal and real estate backgrounds
• Matt talks about a few ingredients to start in real estate 
  • Education
  • Mentorship
  • Dedication

[10:22 - 21:09] The Difference Between 7M and 200M Businesses

• Matt shares an amazing story about his real estate journey
• He shares two key lessons in real estate you don’t want to miss!
  • What sets a 7-million-dollar business from a 200-million-dollar business?
  • What can make your real estate career and your life better?

 [21:10 - 30:35]  Your Niche Can Make a Difference

• Matt talks about his portfolio and niche in real estate
• He shares some nuggets on passive investing you’d want to check out!

[30:36 - 42:34] Networking Can Make a Difference

• Matt talks about commercial properties
  • What does he mean by “lines in the water?”
  • Don’t be afraid to make an offer
• He talks about their marketing strategies 

[42:35 - 51:46] Closing Segment 

• Connect with Matt. See links below 
• Matt talks about their YouTube channel
• Final words from Matt and me

Tweetable Quotes:

“I think you just have to find a lot of great people and treat them right and grow together.” – Matt Teifke

“It’s really, really hard when you’re getting started [in real estate]… Once you see those results, it just gets easier to work harder.” – Matt Teifke

“I think everyone should have real estate … I don’t see why not.” – Matt Teifke

Resources Mentioned:

• BiggerPockets
• Gary Vaynerchuk

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Connect with Matt on LinkedIn and Facebook or call him at (512) 914-4806. Visit their company online and on Facebook. Instagram, YouTube, Twitter, and LinkedIn.

Guest Email: [email protected]

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Our guest for this episode has an amazing background. She is a leading real estate expert, speaker, and entrepreneur. She has in her portfolio over 25 years of experience in real estate, which she applies in the firm she founded, 4M Capital Real Estate Investments. Her years in different real estate ventures helped her in assembling a unique combination of hands-on management, investor management, construction skills, and deal structuring knowledge. Moreover, she is a passionate individual who values people and social connections in real estate. 

Let’s all welcome, Maureen Miles, and learn more about growing money by building relationships.

[00:01 - 7:29] Opening Segment

• I introduce our guest, Maureen Miles
• Maureen shares her personal and real estate backgrounds
  • She tells us a few advantages of females in real estate 

[7:30 - 20:30] The First Time is Key

• We talk about the advantages of not realizing that you’re doing a good job
• Maureen talks about the things that help her succeed
  • Show up
  • Build networks
  • Your first deal is crucial

 [20:31 - 36:00] Growing Money by Building Relationships  

• Maureen talks about the pros and cons of off-market deals
• She shares some tips to break into a new market 
• She talks about her mental preparations to manage other people’s money
• Maureen tells us why “less is more” in partnerships
• Partner with us! Visit 5tcre.com/invest 

[36:01 - 43:45] Closing Segment

• Connect with Maureen. See links below
• Maureen talks about the services her company offers
  • She shares the markets they are working on
• Final words from Maureen and me 

Tweetable Quotes:

“I didn’t know that it was supposed to be hard for females to get into [real estate] … I actually do take it as an advantage.” – Maureen Miles

“Once you start closing, they know you’re a ‘closer.’ That’s all brokers want…Once you prove you can perform, everything just opens up.” – Maureen Miles

“Be careful of your own mindset because I think we limit ourselves way more than anybody else limits us.” – Maureen Miles

Resources Mentioned:

•  Vicinia Property Management

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Connect with Maureen on LinkedIn, Facebook, and Instagram or check out her personal website. Visit their company online and on LinkedIn and Facebook. 

Guest Email: [email protected] 

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Imagine a world where everyone could be successful. Julie Holly, VP Investor Relations at Three Keys Investments, LLC, helps people like you find their freedom through multifamily real estate investing! She’s invested in single-family homes, house-hacked before it had a name, managed properties, and passively invested in multifamily assets. She hosts the podcast, Asks Me How I Know,  where she fuels the mind and soul through weekly interviews with industry leaders. In addition to serving investors, Julie uses her skills to write grants for nonprofits to grow their reach. 

Let’s dive right into the show and learn from Julie how she uses Multifamily investing as a way to help people build the wealth that leads to freedom. 

[00:01 - 12:38] Opening Segment

• Let’s get to know Julie Holly
• Julie gives us some background on her story

[12:39 - 20:33] An Opportunity to Help People Find Freedom

• Julie shares about her first deal 
• Real Estate as an opportunity to help other people 
• To be an accredited investor 

[20:34 - 29:11] Getting Into the World of Commercial Real Estate

• Being open-minded to the Multifamily space
• Julie shares her process learning about multifamily 
• Julie talks about her investment process 

[29:12 - 37:34] We’re a part of the Beauty; Together We Win

• Julie talks about what she learned as a passive investor 
• Julie’s path and actions today 
• Examples of how teamwork and putting people first create success

[36:19 - 47:56] Closing Segment

• Julie gives her tactics around expanding reach through online platforms 
• Sharing knowledge and experiences 
• How to reach out to Julie - links below 
• Final words from Julie and Me

Tweetable Quotes:

“These residents get to live here, and we’re a part of what is providing this beauty and this surrounding for them, you realize you’re a part of something larger than yourself, and, two-fold, you get to see what is taking place on the premises.” - Julie Holly

“You have to expand your thinking, you have to expand the people that surround you so that you’re wide-eyed.” - Julie Holly

Resources Mentioned:

• Ask Me How I Know Podcast
• The 7 Habits of Highly Effective People
• BiggerPockets
• Infinite Banking 
• Mark Willis
• Why Invest in Multifamily, Free eBook

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Connect with Julie on LinkedIn. Visit https://threekeysinvestments.com to learn more.

Guest email: [email protected]

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Our guest for today is a 20-year marketing veteran, generating award-winning projects for Fortune 500 clients such as Verizon, IBM, and Coca-Cola. He has more than 5,000 apartment units in investments and is focused mainly on multifamily acquisitions and repositions. Aside from real estate, he invests in theatrical productions, which now include Hamilton, Moulin Rouge! and American Utopia.

Let’s all welcome, Matt Picheny, Managing Partner at MJP Property Group, and learn more about passive losses in passive investing.

[00:01 - 7:29] Opening Segment

• I introduce our guest, Matt Picheny
• Matt shares why he’s in real estate
  • Investors are just one key reason. Find out the other. 
• He tells us when it is advisable to hold a deal forever

[7:30 - 15:32] “It’s impossible to underwrite deals like that”

• Matt tells us what he’s looking for in a deal
  • Trailing 12-Months
  • Rent Roll
  • Offering Memorandum
• He shares advice about letters of intent that you might want to check out!

[15:33 - 25:37] Building Broker Relationships  

• Matt walks us through his approach in making deals
  • Building relationships with brokers is crucial
• He talks about how they’re handling COVID-19
• He shares how they raised USD 11 million of capital in two days

[25:38 - 34:33] Passive Losses in Passive Investing

• Matt talks about passive losses
  • There are rules for real estate professionals and non-professionals
• Partner with us. Visit 5tcre.com/invest 
• We talk about making income while reducing taxes with the right strategy 

[34:34 - 40:45] Closing Segment 

• Matt tells us more about his upcoming book
• He talks about his other endeavors 
• Connect with Matt. See links below 
• Final words from Matt and me

Tweetable Quotes:

“I look at investment as activism.” - Matt Picheny

“Whoever you’re investing with...make sure that your goals and your values are aligned with theirs.” - Matt Picheny

Resources Mentioned:

• Passive Real Estate Investment Can Be Win/Win With The Right Syndicator

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Connect with Matt on LinkedIn and Facebook or call him at (646) 522-1369. Visit their company online, where you’ll get updated on Matt’s upcoming book. Check them out also on LinkedIn and Facebook. 

Guest Email: [email protected]

Connect with me:

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I had the honor of talking with a local favorite in San Antonio, Texas, Bethany Babcock. She founded Foresite Commercial Real Estate in 2014, which has been one of the fastest-growing commercial real estate firms in South Texas. Only four years later, she was named by the San Antonio Business Journal as one of the “40 under 40.” Bethany has guided her company in managing more than $100 million in retail investment properties throughout Texas thanks to her team’s passion for education and development of its people.  

Let’s get to know Bethany more and learn how you can be a standout buyer in the real estate world.

[00:01 - 08:40] Opening Segment

• How’s Bethany Babcock 
• Bethany shares the asset classes they cover and their area of expertise

[08:41 - 19:23] Waiting or Going Ahead 

• Bethany talks about their “incredibly humbling” start in the business
• She shares a few tips on growing a company that you’d not want to miss!
• She talks about the adjustments their company is making during the COVID-19 pandemic

[19:24 - 28:00] Taking the Accounting into Account  

• Bethany talks about triple net leases
• She tells us the importance of working with an experienced property management team
  • Find out how they handle their accounting
  • Interview their other clients
  • Ask them for examples of what they will report to you

[28:01 - 41:24] Being a Standout Buyer

• Bethany shares some secrets for an inexperienced buyer to stand out in the real estate industry
• She tells us a few magic words investment sales brokers would love to hear from you
• She talks about cap rates in San Antonio before and during COVID-19

[41:25 - 52:30] Closing Segment 

• Bethany talks about their interactions with sophisticated buyers and what sets them apart from everyone else.
• She tells us more about their passion for education and development of people in the real estate world. 
• Connect with Bethany. See links below 
• Final words from Bethany and me

Tweetable Quotes:

“In crisis, there is opportunity.” - Bethany Babcock

“Start doing your due diligence fast and be willing to say ‘yes’ or ‘no’ and move on quickly.” - Bethany Babcock

“Personality is a big deal when you’re dealing with someone.” - Bethany Babcock

Resources Mentioned:

• Marcus & Millichap

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Connect with Bethany on LinkedIn or call her at (210) 816-2734. Visit their company online and on LinkedIn, Facebook, Twitter, Instagram.

Guest Email: [email protected] 

Connect with me:

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I say all the time, the best way to scale is through multifamily. That’s why I can’t wait to hear from today’s guest Ismael ‘Rey’ Reyes, Founder and CEO of MI Real Estate LLC. Rey has been focusing on multifamily since 2016. He also provides independent consulting to multifamily investors and is the author of a #1 Amazon Real Estate New Release titled BLUF. He retired with over 28 years of service in the U.S. Army and is now passionate about helping others become financially free by passively investing in apartment building deals with a special focus on raising money.

Let’s dive right in and learn from Maestro Rey’s journey starting passive and going active using his multifamily scaling mindset.

[00:01 - 06:32] Opening Segment

• Let’s get to know Ismael ‘Rey’ Reyes
• Rey gives us some background on his story 

[06:33 - 11:10] Teamwork, Confidence, and Measure Risk

• Rey talks about his takeaways from the Army 
• The current state of the market 
• How Real Estate is a controllable asset 

[11:11 - 23:22] Starting Passive and Going Active

• Rey talks about education and transitioning into real estate 
• Rey shares about becoming a GP
• Rey’s first few deals and his strategy today 

[23:23 - 28:50] Giving the Bottom Line Upfront 

• Rey talks about writing his book 
• The value you can get from it

[28:51 - 38:34] Closing Segment

• Where you can find Rey’s books - check links below and give a review
• Where to reach Rey - links below - be one of the first five people to mention the show get a free copy
• Getting started on your journey
• Final words from Rey and Me

Tweetable Quotes:

“You have a mission, and the only way you can accomplish that mission is by working together, and I think that’s the key.” - Ismael Reyes

“It’s very easy to find an operator and they take you wherever they take you, but you can also do it the other way around, where you let the market take you, then you find the operators.” - Ismael Reyes 

“Every long journey starts with that first step!” - Ismael Reyes

Resources Mentioned:

• BLUF - by Ismael Rey Reyes
• How Money Walks

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Connect with Rey on LinkedIn and Facebook. Visit https://mirealestate.us/ to learn more and be one of the FIRST FIVE PEOPLE to reach out and mention the show to get an AUTOGRAPHED COPY OF HIS BOOK FOR FREE. 

Guest email: [email protected]

Connect with me:

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Today, I have Daniel Holmlund with me. Daniel is a software developer at Intel and a multifamily investor at Aalon Capital LLC. His journey in multifamily investing started in his adolescence when he realized that he needed to find a source of income that can help him, his family, and other people’s family in the long run. He has passively invested in 907 apartment units, 635 of which he has been a general partner. He also runs an investment club at Intel, which, as of June 2020, has over 700 active members. How do you think, does Daniel juggles his full-time job in the tech industry and his multi-family endeavors? 

Let’s dive into Daniel’s story and learn more about investing from remote locations. 

[00:01 - 10:00] Opening Segment

• Let’s get to know Daniel Holmlund
• Daniel talks about his journey of discovering real estate syndication

[10:01 - 19:02] Investing from Remote Locations 

• Daniel shares some of his key takeaways in real estate investing that you don’t want to miss!
• Daniel talks about his strategy in real estate investment 
  • He engages in activities that can be done after business hours 
• We break down passive investing and how you can leverage it 

[19:03 - 30:20] 30 Minutes Can Make a Difference  

• Daniel talks about his daily routine that you might want to adopt for yourself 
  • Can you still invest in a multi-family business while working on a full-time job? 
• He shares some practical tips to enter the multifamily business 
  • Research a lot but don’t forget to take action

[30:21 - 40:30] Overcoming Analysis Paralysis

• Daniel talks about the importance of finding people who know more than you do
  • You don’t necessarily need to pay for a mentor 
• Time for a Fast Five Segment!

[40:31 - 49:33] Closing Segment

• Daniel talks about his investment club at Intel
• Connect with Daniel. See links below 
• Final words from Daniel and me

Tweetable Quotes:

“The best part of our real estate is knowing that I’m building something that’s gonna provide passive income whether I can work or not.” - Daniel Holmlund

“You can invest in real estate from remote locations.” - Daniel Holmlund

Resources Mentioned:

• Intel
• Sizing People Up
• The Due Diligence Handbook For Commercial Real Estate
• WIN Multifamily Show

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Connect with Daniel on LinkedIn, Facebook, and YouTube. Visit his business site online and on LinkedIn.

Guest Email: [email protected] 

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To learn from a man who focuses on driving success through multifamily, faith, and family; today I have with me, Lee Yoder. Lee is the founder and visionary behind Threefold Real Estate Investing. He started as a physical therapist then realized his true passion was building his own business by investing in real estate and has taken action to quickly build a portfolio with several small apartment buildings and opportunities for all involved. On top of driving his business forward by forging new relationships with top-notch professionals and partners, Lee also hosts an exciting new podcast, Threefold Real Estate Investing.

Let’s dig into this episode and learn the best thing you can do with your time if you have it, or your money if you don’t, and how you can get rewarded for the risks you take.

[00:01 - 07:52] Opening Segment

• Let’s get to know Lee Yoder
• Lee gives us some background 

[07:53 - 15:39] Trading Time and Money; Sowing Risk, Reaping Reward

• How Lee tactically made the jump to Real Estate 
• Buying the first property 
• Lee talks about going into Multifamily 

[15:40 - 23:49] Cash Back at Closing

• Lee talks about his first couple of deals 
• Lee breaks down negotiating cash back at closing
• Net operating income 

[17:10 - 31:23] Leveling Up 

• Lee talks about his current process and deals 
• What it requires to build and scale 
• Lee talks about his podcast and the message behind it 

[31:24 - 45:42] Closing Segment

• Lee talks about the journey with his wife and family 
• How to reach out to Lee - links below 
• Advice on going either passive or active 
• Final words and prayer from Lee and Me

Tweetable Quotes:

“If you’ve got some time, and some extra capacity, you don’t have that high-income job, then I’d say go be active… If you’re a high-income earner, you got a very demanding job, and you don’t have time to be active, then I would say start passive.” - Lee Yoder

“If you want to invest then you gotta learn how to delay gratification.” - Lee Yoder

Resources Mentioned:

• Threefold Real Estate Investing Podcast
• Loopnet
• Rich Dad, Poor Dad

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Connect with Lee on LinkedIn and Facebook, or call 937-400-3044. Visit https://threefoldrei.com/ to learn more. 

Guest Email: [email protected]

Connect with me:

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Today we’re going to look at who you’re adding value to with our guest Tim Kelly, Senior Managing Partner of both Kelly Housing Group and ADPI Capital. Tim is a Real Estate Investor & Educator, Best-Selling Author, Speaker, and an active duty CPO in the Navy, serving his country for 15 years. Tim has been investing in real estate since 2011 where he purchased his first single-family; his first “house-hack.” Now, he’s built a multifamily empire. Through his high-level leadership, teamwork, discipline, and grit; he became a certified Command Financial Specialist, educating hundreds of Sailors and Marines on personal finance and creating financial freedom. Tim also co-authored the book Military House Hacking!  

Let’s jump right in and learn from Tim the mindset you need to catapult your wealth no matter what industry you’re in by adding value to others. 

[00:01 - 04:49] Opening Segment

• Let’s get to know Tim Kelly 
• Tim gives us some background 

[04:50 - 13:19] Catapult Your Wealth

• Tim breaks down what he does and who he serves 
• The value of a VA loan 
• Tim shares his story of getting into multifamily while on-duty; adding value

[13:20 - 22:01] Building Wealth by Adding Value

• Tim talks about his first deals and the value he offered 
• Learn, the team up 
• High Networth people are waiting for you to approach them

[22:02 - 32:29] The Action Taker Mindset 

• Tim talks about the factors and mindset you need to take action 
• Implementing the action steps 
• Tim’s advice for passive investors; Learn, Network, Add Value, Take Action

[32:30 - 43:34] Closing Segment

• Great returns for LP’s
• Tim talks about his deal flow 
• How to reach out to Tim - links below  
• Final words from Tim and Me

Resources Mentioned:

• Military House Hacking Free Download
• Active Duty Passive Income Podcast
• Set up a free call with Tim Kelly

Tweetable Quotes:

“Learn, network, take action, and add value… It doesn’t matter if you’re in real estate, if you’re in tech, if you’re in agriculture; whatever industry you’re in…” - Tim Kelly

“That’s what it’s all about, adding value to deals, adding value to people. Because you’ll get reimbursed, you’ll get compensated in income and abundance based on how much value you give to others.” - Tim Kelly

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Connect with Tim on LinkedIn, Instagram, and Facebook or call Direct: +1-847-910-9161. Visit https://www.activedutypassiveincome.com to learn more.

Guest email: [email protected]

Connect with me:

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