Founders In The Lab with Ruben Kanya

Welcome to the lab! Today, we are thrilled to bring back Katie Lyon, Co-Host of The Landlord Diaries Podcast, Marketing Director of Furnished Finder & KeyCheck and mid-term rental investor. Katie has spent over a decade navigating the real estate and marketing industries, striving to solve the challenges of balancing work, life, and investment opportunities.

In her journey, Katie identified a common problem faced by many landlords: the high turnover and demanding management of short-term rentals. Seeking a solution, she delved into the world of mid-term rentals, discovering a niche that not only provided a more manageable and stable tenant base but also aligned perfectly with her career having both a background in marketing and real estate.

In this episode, Katie shares her experiences and strategies, from managing properties in diverse locations like Florida, Iowa, and Colorado, to optimizing rental income through innovative marketing principles at work.. She discusses the advantages of the mid-term rental strategy, the importance of creating a seamless integration between career and personal interests, being both vertically aligned and how these experiences have shaped her approach to real estate investing.

Join us as Katie offers valuable advice on how she invests her time in as the Marketing Director of Furnished Finder & Keycheck and as a, Co-host The Landlord Diaries Podcast and how she invests in mid-term rentals as an investor. She shares how overcoming common hurdles, building a strong investment portfolio, and fostering a supportive community in the real estate space. Whether you're new to investing or looking to refine your strategies, this episode is packed with insights to help you embark in your mid-term rental journey.

Tune in now to learn how to tackle the challenges of midterm rental management, harness the power of strategic marketing, and build a legacy in real estate with Katie Lyon. Don't miss this enlightening conversation!

HIGHLIGHTS OF THE EPISODE:

11:42 - Katie defines what a midterm rental is

24:30 - Katie talks about leveraging marketing for real estate investing

KEEPING IT REAL:

04:00 - Katie's background in marketing and real estate

09:57 - The advantages of midterm rentals over short-term rentals

15:05 - Family involvement in real estate and creating a legacy

20:00 - The role of marketing in real estate investing

24:35 - Aligning career with personal interests and passions

30:10 - Building a successful rental portfolio and lessons learned

36:25 - Advice for new investors and overcoming limiting beliefs

42:15 - The importance of community and collaboration in real estate

47:30 - Future plans and growth in the real estate space

1:05:58 - We are OUT!!!

CONNECTING WITH THE GUEST

Website: https://www.furnishedfinder.com/

Linkedin: https://www.linkedin.com/in/katie-lyon8/

Instagram: https://www.instagram.com/mskatielyon/?hl=en

Youtube: https://www.youtube.com/@thelandlorddiaries

#MidtermRentals #PropertyManagement #MarketingStrategies #RealEstateInvesting

Welcome to the lab, and today, we bring back Terry Judge, CEO of CORE, for a deep dive cost segregation case study on our own properties. In this enlightening episode a follow up from episode #286 where Terry discussed the maximizing tax benefits from cost segregation, in this follow up episode, Terry peels back the curtains on the benefits that cost segregation can have on an investor like you by using our properties as real time case study. This cost segregation case study alone in our situation gave us a $50,000+ check from the IRS which we will be able to utilize for another investment. From understanding the basics to diving into detailed strategies, Terry explains how cost segregation can supercharge depreciation and provide substantial tax savings for YOU.

Terry discusses the importance of timing and the different categories of property for depreciation. He also covers the benefits of doing a cost segregation study and how it impacts both short-term and long-term rental properties. Terry provides real-life examples, including a case study of properties owned by the host, to illustrate the powerful financial impact of cost segregation.

Whether you're a seasoned investor or just starting out, this episode provides invaluable insights into optimizing your real estate investments through strategic tax planning. Join us as Terry Judge breaks down the complexities of cost segregation and reveals in this case study how you can maximize your tax benefits.

HIGHLIGHTS OF THE EPISODE:

07:29 - Terry talks about cost segregation benefits.

18:59 - Terry talks about why you need a cost segregation study

KEEPING IT REAL:

04:00 - Importance of timing in cost segregation

06:00 - Different property categories for depreciation

08:15 - Real-life examples of cost segregation benefits

10:00 - How cost segregation impacts short-term rentals

12:30 - Detailed case study of short-term rental properties

15:00 - Importance of strategic implementation

18:45 - Benefits of doing a cost segregation study

21:00 - Financial impact on long-term rental properties

23:15 - Key takeaways and practical advice

25:00 - How to get started with cost segregation

27:00 - Wrapping up and connecting with Terry Judge

CONNECTING WITH THE GUEST

Website: https://coresolutionsgroup.net/

Linkedin: https://www.linkedin.com/in/coresolutionsgroup/

Instagram: https://www.instagram.com/terry_judge/?hl=en

Email: [email protected]

#CostSegregation #TaxBenefits #RealEstateInvesting #DepreciationStrategies

Welcome to the lab, and today, we step in with Jason Hull, CEO and Founder of DoorGrow. In this enlightening episode, Jason shares his journey and strategies for scaling property management businesses. From starting with zero doors to managing 105 units in just six months, Jason emphasizes the importance of depth over breadth in business relationships.

Jason delves into the concept of "depth" in client interactions and explains how personal connections can significantly impact business growth. He shares practical strategies, such as the Neighbor Strategy, to leverage local relationships and increase client acquisition. Jason also discusses the challenges and opportunities in property management, offering insights into effective pricing models, branding, and the critical role of purpose in business.

Whether you're a seasoned property manager or just starting out, this episode provides invaluable insights into building and scaling a successful property management business. Join us as Jason Hull shares his expertise on creating meaningful connections, optimizing business processes, and achieving sustainable growth. Tune in now!

HIGHLIGHTS OF THE EPISODE:

11:25 Jason talks about his definition of a business

36:05 Jason talks about being motivated by purpose instead of money

KEEPING IT REAL:

06:50 - The importance of understanding client needs

10:00 - Common misconceptions in property management

12:00 - The process myth for businesses over 200 units

18:30 - The importance of a well-structured website

20:20 - The benefits of a three-tier hybrid pricing model

25:00 - Overcoming operational challenges in property management

30:00 - Crafting the ultimate sales pitch

34:00 - Leveraging local relationships with the Neighbor Strategy

38:50 - Building trust and safety with real estate agents

45:00 - The five levels of exit for entrepreneurs

52:00 - The challenge of maintenance in property management

1:00:00 - The impact of AI on property management

1:07:00 - Importance of focusing on the next right move

1:20:26 - We are OUT!

CONNECTING WITH THE GUEST

Website: https://doorgrow.com/

Linkedin: https://www.linkedin.com/in/kingjasonhull/

Instagram: https://www.instagram.com/kingjasonhull/?hl=en

Facebook: https://www.facebook.com/kingjasonhull/

X: https://x.com/doorgrow

Youtube: https://www.youtube.com/c/doorgrow

#PropertyManagement #BusinessGrowth #ClientRelationships #RealEstateInvesting 

In this dynamic episode of "The Real Estate Experiment," your host Ruben Kanya dives deep into the transformative insights and strategies gathered from the recent STR Summit Conference in Denver. Shout out to the Robinsons for an incredible event! Ruben kicks things off by emphasizing the importance of continuous learning and adapting to new market trends, especially in the evolving landscape of short-term rentals (STRs).

Listeners will gain valuable insights into the (1) latest data and trends in the STR market, presented by Jamie Lane of AirDNA.co. Ruben underscores the importance of relying on hard data over speculation to make informed investment decisions. (2) He then transitions to discussing boutique hotels with Rich Somers (previous guest episode #225) and recaps an enlightening conversation & presentation (3) with Michael Elefante (previous guest episode #161), who shared how he stayed discipline with his buy box to tap into 2 million dollars worth of non-taxable profit on just one door. (4) Ruben delves into the innovative strategies of Pace Morby, highlighting his expertise in creative financing and operating without traditional bank loans EVER. By attending these conferences, (5) Ruben illustrates how challenging existing paradigms and learning from industry experts can expedite your own real estate experiments and lead to greater success.

Listeners will also discover the significance of understanding economic trends in STRs to optimize investment strategies. (6) Ruben explains the advantages of larger properties and unique experiences to reduce competition and increase profitability. (7) He also emphasizes the power of creative financing and leveraging equity to grow your portfolio without traditional loans.

Tune in now to gain invaluable insights and inspiration for your own journey towards success in the real estate industry.

#ShortTermRentals #RealEstateInvesting #CreativeFinancing #InvestmentStrategies

Welcome to the lab! Today, we’re exploring the realm of notary services and business growth with our esteemed guest, Philip Hogan. As the Founder and CEO of Signing Services of America, Philip has built an impressive empire in the notary and real estate services industry, providing critical support to countless transactions nationwide or as I like to call it, shovels during a goldmine.

A former military man with a background in engineering, Philip's journey is nothing short of inspiring. His transition from serving in the Navy to establishing a successful business is a testament to his resilience and entrepreneurial spirit. Despite starting with no business background, Philip’s determination and strategic mindset propelled him forward, leading to a thriving career in the notary services and real estate support industry.

Join us as Philip shares his compelling story driven by a passion for innovation and a commitment to excellence. From his early career in the Navy to founding Signing Services of America, Philip’s path is marked by grit, hard work, and a relentless pursuit of success.

In this episode, Philip delves into the intricacies of the notary services industry, emphasizing the importance of reliability, precision, and exceptional service. He discusses how he scaled his business from a single-state operation to a nationwide powerhouse, highlighting the role of technology and strategic partnerships in this growth.

Moreover, Philip sheds light on the critical role notaries play in real estate transactions, sharing insights into the process, challenges, and opportunities within this niche field. He also offers valuable advice for aspiring entrepreneurs and notaries looking to make their mark in the industry.

If you’re looking to unlock the secrets of building a successful service-based business and harness the potential of the notary services industry, this episode is for you. Tune in now!

HIGHLIGHTS OF THE EPISODE:

16:26 - Phillip talks about notary fees and services.

29:23 - Phillip talks about building a culture within a company

KEEPING IT REAL:

00:05:20 - How Phillip Hogan transitioned into the notary business

00:08:10 - Building Signing Services of America and the initial challenges

00:12:30 - The process of becoming a notary and the importance of a notary stamp

00:18:00 - Differences between general notaries and certified notary signing agents

00:22:15 - Compensation structure for notaries in real estate transactions

00:28:40 - The importance of technology in scaling the notary business

00:34:50 - Expanding Signing Services of America and attending industry conferences

00:40:30 - Marketing and sales strategies for growth

00:45:50 - Future plans and technology development for Signing Services of America

01:12:33 - We are OUT!

CONNECTING WITH THE GUEST

Website: https://signingservicesofamerica.com/

Linkedin: https://www.linkedin.com/in/philliphogan/

Facebook: https://www.facebook.com/signingservicesofamerica/

#NotarySuccess #EntrepreneurJourney #RealEstateServices #BusinessGrowth

Welcome to the lab! Today, we're diving into the world of cost segregation and tax incentives with our distinguished guest, Terry Judge. As a Cost Segregation and Tax Incentive Expert, Multifamily Investor, and Lifetime Entrepreneur who’s helped investors save over a billion dollar’s worth in tax savings, Terry's journey is nothing short of inspiring.

A former mechanical engineer turned real estate tax strategist, Terry thrives on the challenges of the tax code, mirroring his analytical approach to both life and business. Despite starting with no tax background, Terry's tenacity and dedication propelled him forward, leading to a fulfilling career in real estate and tax advisory.

Join us as Terry shares his compelling story driven by a passion for innovation and a commitment to helping others achieve financial success. From his early career in mechanical engineering to founding CORE, a leading tax and advisory solutions company, Terry's path is marked by resilience and a relentless pursuit of excellence.

In this episode, Terry delves into the intricacies of cost segregation, emphasizing the importance of strategic tax planning and leveraging specialized knowledge to maximize tax benefits. From uncovering niche tax strategies to maximizing depreciation through cost segregation studies, Terry's insights offer a roadmap for both seasoned investors and those new to the field.

Moreover, Terry sheds light on the nuances of cost segregation, sharing tactics for maximizing tax savings and profitability while emphasizing the significance of detailed audit trails and comprehensive studies.

If you're looking to unlock the secrets of tax-efficient real estate investing and harness the potential of cost segregation, this episode is for you. Tune in now!

HIGHLIGHTS OF THE EPISODE:

09:51 - Terry talks about conducting a cost segregation study and what it can do for investment properties.

16:15 - Terry talks about how to be eligible for cost segregation

KEEPING IT REAL:

04:00 - How cost segregation integrates legal, engineering, and tax components

06:00 - Accelerated depreciation benefits

10:10 - The impact of cost segregation on investment properties

13:00 - How depreciation works in real estate

15:30 - Eligibility for cost segregation and investment properties

24:20 - Impact of holding periods on cost segregation

30:10 - Depreciation benefits for different property types

34:00 - Changes in bonus depreciation over the years

39:00 - Tax benefits for real estate professionals vs. limited partners

45:30 - Importance of having a good team and specialized CPA

54:32 - We are OUT!

CONNECTING WITH THE GUEST

Website: https://coresolutionsgroup.net/

Linkedin: https://www.linkedin.com/in/coresolutionsgroup/

Instagram: https://www.instagram.com/terry_judge/?hl=en

Email: [email protected]

#CostSegregation #RealEstateTax #TaxBenefits #RealEstateInvesting

Welcome to the lab. Today, we host Ed Mathews, a seasoned executive who transitioned from a high-flying career in Silicon Valley to building a successful real estate investment company with a niche in Multifamily. Ed is the founder of Clark St Capital, a company that owns and operates multifamily properties throughout New England and soon, North Carolina.

Ed helps busy C-level executives grow their retirement nest eggs passively, without the hassle of being a landlord. He also mentors aspiring real estate investors, sharing his journey from the corporate world to real estate investing.

In this episode, Ed shares his story of how he started investing in real estate on the side while working in Silicon Valley. He discusses his strategies for acquiring and managing multifamily properties, the importance of self-education, and the value of mentorship. Ed provides insights into financing strategies and how to build a profitable real estate portfolio. If you're interested in learning how to build wealth through real estate investing, this episode is a must. Tune in now and take the first step toward transforming your financial future!

HIGHLIGHTS OF THE EPISODE:

14:45 Ed talks about the advantages of staying in the commercial multifamily space.

31:50 Ed talks about creative financing techniques and their benefits.

KEEPING IT REAL:

04:00 Ed’s initial steps and challenges in real estate

06:15 Transitioning from a high-flying career in Silicon Valley to real estate investing

08:45 The impact of personal goals and family on career choices

14:45 Why Ed focuses on 4 to 20 unit properties and the advantages of staying in the commercial multifamily space

17:30 Insights on the Connecticut real estate market

22:20 Ed's strategy for handling property management and reducing turnover

27:40 Building and leveraging relationships in the real estate industry

31:50 Creative financing techniques and their benefits

35:00 The pros and cons of refinancing properties

37:00 Lessons learned from Ed's real estate journey and advice for aspiring investors

42:15 The role of mentorship in Ed's success and why he believes in paying it forward

46:00 Ed’s final thoughts on real estate investing

49:30: We are OUT!

CONNECTING WITH THE GUEST

Website: https://www.clarkst.com/

Linkedin: https://www.linkedin.com/in/edmathews/

Instagram: https://www.instagram.com/edmathews4/

Youtube: https://www.youtube.com/@clarkstcapital

X: https://x.com/edmathews4?lang=en

#MultifamilyInvesting #RealEstateInvesting #InvestmentStrategies

In this compelling episode of "The Real Estate Experiment," host Ruben Kanya takes you behind the scenes of the mid-term rental insurance industry with a heartfelt case study that humanizes the business. Ruben emphasizes the real human impact of this niche, sharing an inspiring story of a gentleman named Bruce who was displaced due to a fire. This episode brings to life the reasons why the mid-term rental insurance space is so vital and lucrative, highlighting the importance of selecting the right type of asset to serve those in need effectively.

Listeners will gain valuable insights into the fundamentals of the industry, including the critical criteria for selecting properties that cater to displaced families. Ruben discusses the importance of accessibility, layout, and location, all crucial elements for ensuring optimal living conditions for those affected by unforeseen events. By focusing on these key aspects, investors can position themselves to land premium contracts and make a significant difference in the lives of those they serve.

Ruben also explores the emotional and logistical challenges faced by families like Bruce's, offering a deeper understanding of why going above and beyond in hospitality is essential. This episode underscores the need to be well-prepared and knowledgeable about the entire process, from initial displacement to long-term relocation solutions.

Tune in to discover the human stories behind the mid-term rental insurance space, the importance of thorough property criteria, and the rewarding nature of solving big problems. This episode is a must-listen for anyone interested in real estate investing, especially those looking to make a meaningful impact while achieving financial success.

#MidTermRentals #RealEstateInvesting #InsuranceStrategies #HumanizeYourBusiness

In this thought-provoking episode of "The Real Estate Experiment," host Ruben Kanya takes a reflective dive into the concept of seasons and how they parallel our journeys in life and business. Inspired by the changing weather in Massachusetts, Ruben shares his insights on the natural cycles and how understanding these can lead to greater success in real estate and personal growth.

Ruben emphasizes the importance of recognizing and aligning with the seasons in our lives, whether it's a time for education, action, relationship-building, or rest. He underscores that just as nature operates in distinct seasons, so too should our efforts and focus areas. By honing in on what is most relevant in each season, we can avoid the pitfalls of trying to do everything at once and instead achieve deeper, more meaningful results.

Listeners will gain valuable insights into how to determine which season they are in and how to align their goals and actions accordingly. Ruben shares personal anecdotes and examples from his own journey, including the current season of building and creative financing he and his team are focusing on. He also discusses the importance of having a structured plan and bringing order to our endeavors to achieve success.

Tune in now and discover how you can apply the framework of seasons to your own life and business. By understanding and embracing the season you're in, you'll be better equipped to navigate challenges, seize opportunities, and ultimately achieve your goals. This episode is a must-listen for anyone looking to bring more order and purpose to their real estate investments and personal growth journey!

#RealEstateInvesting #PersonalGrowth #SeasonsOfLife

In this enlightening episode of "The Real Estate Experiment," Ruben delves into a comprehensive array of strategies for real estate investing and house hacking, offering invaluable insights tailored for investors at every level. Ruben emphasizes the importance of proactive engagement with lenders to secure mortgage pre-approval and leverage primary residence loans effectively. Additionally, he highlights the potential benefits of researching first-time homebuyer programs and incentives, which can significantly enhance investment opportunities for aspiring homeowners.

Listeners will also discover the advantages of exploring careers that offer remote work opportunities, granting investors greater flexibility in being able to make strategic property investments on annual basis. Ruben further advises utilizing strategic keyword searches such as "second kitchen" or "in-law suite" when browsing for properties to optimize the potential for successful house hacking endeavors. Moreover, he discusses the value of considering becoming a licensed real estate agent as another lever to pull, providing not only access to invaluable industry insights and opportunities for investment growth but getting paid at the closing table for buying your own properties. Tune in now and embark on a journey towards mastering real estate investing and house hacking strategies that can propel you towards financial freedom and success!

#househacking #realestate #realestateinvesting