BigMikeFund

On today’s episode, I’m once again talking with Chris Miles, an expert in infinite banking, like insurance, and being a housekeeper (and zookeeper) for his own personal Brady Bunch at home. When he’s not being a family man, Chris works with life insurance and runs his own podcast about money called the “Chris Miles Money Show”. 

Chris and I are talking about the volatile stock market and insurance, life insurance policies (and Chris’ specific designs), using life insurance like extra liquid reserves, and our policies on financial planning and advice.

Minute Markers:

00:23 - Introduction 

00:54 - A little about Chris

02:20 - CoronaVirus and the volatile stock market vs insurance

03:05 - Infinite banking and the Internal Rate of Return

07:38 - Timing the market

09:00 - Investment quadrants

11:11 - How Chris designs policies

12:40 - Needing money from life insurance policies

15:05 - Balloon payments

16:25 - Extra liquid reserves and investing

22:30 - Life insurance and porfolios

26:00 - Financial planning and advice

31:30 - Contacting and following Chris

33:05 - Thank you for listening to the Big Mike Fund Podcast

Quotes:

“If you were to compare apples to apples in a savings account, it's essentially like a tax-free supercharged savings account. But instead of earning point nothing percent, you're actually earning about at least 4.5% to 5% average per year tax-free” – Chris

“I never tell people you should absolutely do this recommendation of this investment. But I will say let's look at the different options that are available out there.” – Chris

“Most people are smart. They don't even realize how smart they are. Given the right coaching and the right education, they can make these decisions without anybody pushing them into anything.” – Mike

“The good old well-known fact is that 80% of the funds can be the index. The active managers don't necessarily, I don't know what they get paid for in essence, in the stock market.” – Mike

Resources:

Money Ripples Website

Chris Miles Money Show, apple podcast page

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Today, I have the pleasure of talking with fellow mastermind, Cory Boatright. We talk about the COVID-19 pandemic and what it means to the health of the world and to the economy as a whole. 

Cory talks about some important practical things you can do with your company and your team whether they are in the office panicking or if they are working from home and panicking. We are in the midst of a storm but we can weather it together if we remember to be safe, be healthy, and take this seriously.

Minute Markers:

00:23 - Introduction 

01:10 - Cory on COVID-19 and the economy

05:51 - How do we lead in the midst of a storm

08:10 - Practical things you can do with your organization

13:58 - Summary of important key points

15:45 - Assets and opportunities

24:45 - COVID-19, a regular flu or worse?

30:00 - Shelter in place

32:09 - This is a humanity issue first

34:00 - Finishing on a positive note

35:41 - Thank you for listening to the Big Mike Fund Podcast

Quotes:

“My mentor told me a long time ago that whenever you have a headache, it sucks for you, but fantastic for Tylenol.” – Cory Boatright

“You need to overcommunicate right now. If you think that talking to them one time a day is enough, it’s not. You need to overcommunicate with your folks.” – Cory Boatright

“It’s a humanity issue first. And it certainly affects our businesses and our pocketbooks and all these things. Do your part in using sanitizer and taking this seriously.” – Cory Boatright

“TV can be dangerous--the news can be dangerous--just to hear the bad news. At this point, we should all be thinking about what we can do to make a difference, to prepare. I like to call it ‘observing, analyzing, and preparing.” – Mike Zlotnik

“I agree that the only solution right now is this extreme ‘shelter in place’, very-very aggressive, on all fronts, all states, you know?” – Mike Zlotnik

“This is a time of unity too. We need to forgo all of our political differences, and stop political bickering and focus on the health of the nation and the health of the world.” – Mike Zlotnik

Resources:

Cory Boatright, website

Cory Boatright, LinkedIn

Cory Boatright, Twitter

Cory Boatright, Instagram

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On today’s episode, I’m talking with Gene Guarino from The Collective Genius Mastermind group.

He’s a new member to the group but not new to the real estate market. He’s an expert and a specialist in converting residential properties to assisted living. Today we’re talking about the assisted living market and what makes it tick: the in’s and out’s of the market, the success rates, the break-even points, and all of the nuances. 

Minute Markers:

00:23 - Introduction 

01:30 - Who is Gene?

02:48 - An example of assisted living real estate

04:53 - The typical monthly cost

07:08 - The operating cost for an average facility

08:21 - A break-even point

11:13 - Three-pack 

12:14 - Gene’s educational program

14:36 - The average time a given customer stays in a home

16:39 - Comparison to bigger senior living facilities

17:48 - Home environments versus larger Class A facilities

20:03 - What kind of time investment is required?

23:25 - Passive investment options for folks who want a return

25:00 - Success rates

27:56 - Gene’s BHAG’s

29:30 - Reaching out to Gene

31:19 - Thank you for listening to the Big Mike Fund Podcast

Quotes

“Yes, the economy of scale is a very different environment. Certainly, the home feels cozier as long as they like it. Also, it depends on the type of market.” - Mike Zlotnik

“That is the miracle of technology. It accelerates and continues to accelerate. I don’t think it will ever stop.” - Mike Zlotnik

“The lower your activity or involved in, the lower your rate of return. If you just want to own the real estate and lease it to the operator, you can get twice the market rent and have a nice cash flow in the real estate they couldn’t cash flow otherwise.” - Gene Guarino

“The key to this whole thing is location, location, location. The people that live in the house in the assisted living is all about the demographics of those people..” - Gene Guarino

Resources:

RAL101.com

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Today, it is my pleasure and privilege to talk with, fellow mastermind group member (and fellow “phone book celebrity”), Nick Aalerud. Nick talks candidly about his reset stories, the lessons he learned from them, turnkey real estate deals, and the importance of stress-testing the deal. He also talks about his book, Don’t Quit: Stories of Persistence, Courage, and Faith; all of the profits from which go to charity.

Minute Markers:

00:23 - Introduction 

02:16 - A little about Nick and his background in real estate

05:37 - Nick’s first hard reset button

08:38 - Where to find cash flow deals/cap rates

12:00 - Multi-family flip/bird strategy

15:09 - Nick’s second hard reset and the lesson learned after

17:11 - Nick’s other real estate investments and business

18:12 - Nick on bigger assets

24:15 - Don’t believe the hype

26:42 - “Don’t Quit: Stories of Persistence, Courage, and Faith” book

28:34 - How to get in contact with Nick

29:28 - Thank you for listening to the Big Mike Fund Podcast

Quotes:

"I certainly agree with you to do the due diligence learning, to do the due diligence is the absolute key. And owning your own failures or successes is important. An indomitable spirit, you fall, you get up. That's another key lesson so, it makes a lot of sense. I appreciate your sharing. It’s not easy to share, but it shows you're not afraid to share even failures, which is a sign of strength.“.- Mike Zlotnik

 “And small assets. They're not necessarily bad assets at all. In fact, they're great assets. It’s much easier to manage a small renovation than a big project. The exit happens to take place a whole lot faster.” - Mike Zlotnik

“Learning to do my own due diligence with partnerships, learning that also taking ownership. I spent 6–9 months being just angry at this other person, other individual. I really couldn't let it go until someone told me. It was actually Marshall Sylver, the national hypnotist, you might know him. He basically just said, "Own it. This was your failure. No matter what he did, you went through with it. You didn't do enough due diligence. Why buy out of state your first five deals. Just own it, you made this mistake." Once I own that for myself, it really helped propel me forward to sharpen my pencil.” - Nick Aalerud

 “Stress test the deal. I'm sure, I know you do that too. Stress test every deal, 100%.” - Nick Aalerud

Resources:

Nick Aalerud, Facebook

AA Real Estate Group, website

Nick Aalerud, LinkedIn

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On today’s episode of the Big Mike Fund Podcast, I had the pleasure and privilege of having Al Beahn from Detroit, Michigan. Al is a real estate investing expert, a lifelong entrepreneur and the founder and CEO of Pioneer Homes, the leading source for cash flow rental properties in Detroit. We talk about the multi-family vs. single-family market, best practices with contractors, and future plans in the real estate market and in the Detroit real estate market in particular.

Minute Markers:

01:19 - Who is Al? What does he do and what is his background?

04:20 - The Detroit market for turnkeys

07:52 - Average, typical cost of rent generated today (for a $60,000 home)

09:19 - The multi-family market vs. single-family market

15:09 - What is driving the Detroit market?

18:34 - What does the future hold for Al?

19:00 - How Al manages his crew

21:29 - Al’s best productivity tools and advice

28:35 - Getting a hold of Al

29:17 - Thank you for listening to the Big Mike Fund Podcast

Quotes:

 “It has been, I guess, margin compression issue in many markets. It has happened and is happening today, all over the country.” 

“To me, it starts with the construction. Every deal we've ever done that had any construction, our success and/or failure, came from the construction side of the deal, always.” 

 “It’s the key to success. You're measuring and monitoring progress daily.” 

“When it comes to contractors, I have always found that trying to find the cheapest guys, you always, always end up spending more money in the end.” 

Resources:

Al Beahn, email: [email protected]

Al Beahn, LinkedIn

Al Beahn, Facebook

Pioneer Homes, website

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