Income Hacker with Ryan G. Wright

Lashauna is pretty new to the real estate world, and while Ryan sees that status as an opportunity to guide her to success, others might see that as a chance to take advantage of her inexperience. This is where wholesalers have snuck in, trying to convince Lashauna to go along with deals that are unfavorable to her. Thankfully, Ryan is here to back her up and protect her best interests. With some tips from Ryan and a little bit of practice, Lashauna can cut out some of these middlemen that are dragging her down and get straight to making profitable deals herself.

Today Ryan’s speaking to Lashauna about the best ways to navigate the market while staying wary of people who can ultimately kill a deal or cut her profit margin. As Lashauna explores deeper and deeper into the real estate world, she’s come across concepts that she’s unfamiliar with and needs to fill those gaps before she can really get her foot in the door. Ryan is here to address those and answer some of the most popular questions that are stuck in the minds of new investors.

Ryan knows that everyone you meet during a real estate transaction is out for their own paycheck, and because of that, you need to be extra careful to protect yours. Wholesalers, real estate agents, contractors, etc., each have their place in transactions. While they can be a great help at times, they can also be an enormous weight on investors’ shoulders. The trick is finding the balance, and that’s what we’re covering in this special episode of Coach’s Corner.

In addition to what we just mentioned, Ryan is also covering the following topics that can help anyone on their own investment journey:

• When to hire a real estate agent.
• Property inspections.
• Appraisals.
• Title insurance and title companies.
• Scope of work.
• Material lists and material grades.
• Project management.

“The best thing is to always put your earnest money down and give yourself as long as you can and always make it refundable. Then negotiate with the seller to get the longest terms you can.”

—Ryan G. Wright

Podcast Summary:

1:02 - Getting to know Lashauna, her story, and what motivates her.

3:34 - Ryan’s overview of wholesalers, and the pros and cons of working with them.

7:37 - Searching for a property with a real estate agent and without one.

8:32 - The ins and outs of title insurance.

9:41 - The differences between property inspections and appraisals.

12:47 - It’s almost closing time. Should I use a title company or a lawyer?

15:07 - Earnest money: ensuring that I can get it back.

16:48 - Overview of the scope of work.

17:13 - Talking about materials lists and keeping an eye on the general contractor.

18:54 - Why I should care about different grades of building materials.

20:35 - How to know if there’s a lien on a property.

22:36 - Finding value estimates, equity, comparables, and more in Investor’s Edge.

24:29 - Ensuring that you’re targeting the right areas by looking at price ranges.

25:55 - The advantages of having a project manager.

26:58 - Wrapping up with Lashauna.

Most people look at a dollar, or a hundred dollars, or even a million dollars, and think about ways they can spend it. In reality, money is so much more than just its buying power. Today, we’re talking about its investing power.

In this episode our friend and money mastermind, Chris Naugle, is going to teach you a principle you should never forget, the one thing that unites us all: people always want to make more money. Once you realize this concept, you think less about how you can spend your money, and more about how your money can be a problem solver for others, and that’s where your money can start to grow.

Today’s guest has a whole laundry list of titles, so long that it’s hard to pin him to just one thing. He’s a former professional snowboarder, financial advisor, and a stock broker, managing millions in assets. He has been featured on HGTV Risky Builders, he’s made hundreds of real estate transactions, and so much more.

It’s time to stop “playing it safe” by hoarding every dime you have in the bank. It’s time to make your money work for you.

 “The only way anyone can ever fail at anything is to quit….Every single successful person I’ve ever surrounded myself with has failed. And if they haven’t failed, they haven’t succeeded….You will learn more from each and every failure than you will ever learn from a success.”

—Chris Naugle

Podcast Summary:

1:46 - Chris shares his story about the ups and downs of investing, and the roller coaster he’s gone through to achieve his dreams.

4:17 - Surrounding yourself with financial masterminds: Chris discusses how he gains knowledge and mentorship from those he looks up to.

6:02 - What happens when you ask a billionaire what they do with money? The truth about how money really works, and living the big lie.

7:55 - The secret of millionaires and billionaires: help people make money.

10:06 - Your money is bored in the bank. It should be working for you.

11:51 - Chris’s first income hack: using his childhood network to fund his dreams.

13:15 - First income income hacker mistake: impulsive investing without research.

14:34 - Chris motivates listeners to defy the fear and embrace failure.

16:49 - Debunking “Instagram” success stories.

19:03 - Freedom starts at the end of the road; Ryan calls it “reverse engineering your success.”

20:34 - HGTV’s illusion of reality. Real life deals don’t make for good TV.

24:08 - Chris’s biggest income hacker success: helping his mom use her money wisely. 

25:29 - What would Chris do if he had to start all over?

26:13 - Teaching financial principles to the next generation.

28:18 - Wrapping up questions with Chris.

Link to Chris’s free training: moneyschoolrei.com/tmmm

Think and Grow Rich by Napoleon Hill: https://www.amazon.com/Think-Grow-Rich-Landmark-Bestseller/dp/1585424331

Chrisnaugle.com

https://www.facebook.com/ChrisMNaugle

https://twitter.com/thechrisnaugle

https://www.linkedin.com/in/chris-naugle-8b408a25/

“The problem in America is not what people don’t know, the problem in America is what people think they know that just ain’t so.” —Will Rogers

No business owner has ever made it to the top without having to overcome hurdles along the way. That’s a lesson that Jennifer and Brian know all too well after having faced their own hardships before starting their own legal services firm. In today’s podcast, we’re covering the ideas that many people harbor in their minds that keep them from taking the next step in their career. Brian and Jennifer break down the various motivators in our lives, and how a simple shift in mindset could change millions of lives.

Today’s a unique podcast because we have two special guests, the founders of Leafy Legal Services and hosts of The Leafy Podcast, Jennifer Gligoric and Brian Price. This duo has dedicated their careers for the last 20 years to helping business owners, including real estate investors. Their latest endeavor was built with a passion for protecting those business owners and their assets from the cutthroat industries that they operate in.

Between Jennifer and Brian, we’ve got a lot to discuss, and there are many pearls of wisdom to take from each of them. Their goal is to inspire people who want to start a business to start now and for those who’ve done it and are struggling to use these trials to their advantage. Some of the highlights you won’t want to miss include:

• A poverty mindset vs. an opportunity mindset.
• Internal vs. External motivation and confidence.
• Staying positive, even through tragedy.
• Separating yourself from your business using an LLC.
• The best lawsuit is one that never happened.
• If you have something to give to the world, do it now.

“True confidence is actually an internal thing. You shouldn't really need anybody else’s approval...That’s very fleeting. Until you have your own internal confidence, you’re never going to be truly grateful...no matter how much you accumulate.”

—Brian Price

“Your biggest mistakes are sometimes your biggest launchpads.”

—Jennifer Gligoric

Podcast Summary:

2:25 - Brian discusses the tipping point in his real estate career: losing everything during the 2008 crash.

4:20 - Expectations vs. reality: what really happens when I “lose everything”?

6:04 - Jennifer’s inspirational story. From moldy bread to living fearlessly. 

10:17 - Reaching for satisfaction instead of money. *Hint* the answer is gratitude.

11:38 - Do I generate confidence internally or externally?

14:48 - If you’ve ever wondered why some people just radiate positivity, here’s why.

16:40 - Asset protection: Brian covers the how and the why.

19:42 - Jennifer explains how Leafy Legal protects business owners from threats to their assets and operations.

23:55 - How “arms length” clauses can be applied to real estate.

26:43 - Brian’s first income hack: springboarding his career with affiliate marketing.

27:50 - Jennifer’s first income hack: investing her time into becoming a certified coach, plus writing a book.

30:26 - Jennifer and Brian talk about their biggest successes.

33:13 - Biggest piece of advice for income hackers: no contribution is too small toward your future goals.

34:47 - Even the most successful people started out where you are. 

36:38 - “Overnight success” is really years of work behind the scenes.

38:24 - How can we share our financial knowledge with our posterity?

41:24 - Wrapping up questions with Brian and Jennifer.

Resources:

Who Moved My Cheese?

https://www.amazon.com/Who-Moved-My-Cheese-Amazing/dp/0399144463/

How to Win Friends and Influence People by Dale Carnegie:

https://www.amazon.com/How-win-Friends-Influence-People/dp/8189297813

The Entrepreneurial Ethos by Jarie Bolander:

https://www.amazon.com/ENTREPRENEUR-ETHOS-Inclusive-Resilient-Entrepreneur/dp/1634925505

Slack App:

https://play.google.com/store/apps/details?id=com.Slack&hl=en_US

Waze App

https://www.waze.com/apps

Free E-Book - Asset Protection Basics for Real Estate Investors

https://go.leafyassets.com/ap-ebook1

Shondreka has the passion to make it in the real estate investment game, but does she have the tools to get her there? Ryan takes on the role of mentor in this episode of Coach’s Corner to see if he can get her one step closer to those real estate dreams.

When starting out, every investor is going to have some gaps in their real estate knowledge that can delay them on their path to that enviable first deal. Shondreka herself is a realtor, so she’s very familiar with the market, but she still finds herself stuck in the fine details from time to time.

Shondreka needs the skills to determine if a certain property is profitable before she invests, which may be more difficult than you think. Ryan takes her through the process of finding, valuing, and estimating rehab costs to clear up that picture, so she can use her time more efficiently and be confident in her deal making.

This episode gives insight not just to Shondreka, but to viewers everywhere on the following topics:

• The different types of comparables.
• Natural barriers.
• Investor’s Edge software.
• Scope of work.
• Contractors.
• Off-market properties.

“Finding the property is the whole job here. The great thing about it is the people who aren’t willing to do the work never make it. The secret to success is putting in the time to do the work religiously.”

—Ryan G. Wright

Podcast Summary:

1:22 - Getting to know Shondreka, her unique situation, and her goals.

4:46 - Explaining the benefits of the BRRR strategy.

6:46 - Shondreka talks about her barriers to becoming the investor she dreams of being.

8:00 - Ryan talks comparables, and how these help you narrow down the real market value of a property.

14:44 - A word of caution regarding overlooking comps and underestimating natural barriers.

16:26 - Finding properties and the advantages of using Investor’s Edge.

17:06 - What to do when a valuation ends up breaking your expectations.

19:10 - Putting a property under contract.

20:28 - The best way to find your next contractor.

22:48 - Diving into Ryan’s best methods for finding properties outside the MLS.

23:47 - Skip tracing: contact info in the palm of your hand.

24:48 - Why off-market properties (i.e. for rent by owner) are better than traditional properties (i.e. for sale by owner).

26:42 - “We’re selling stuff, not the property.” Narrow your leads on estate sales to yard sales instead.

28:06 - You’re the fixer: becoming a real estate problem solver.

29:30 - Choosing your favorite two options to reach out.

31:59 - Finding the property is the whole job. Time is the secret to success.

Your mind can either be your best tool or a prison cell, and it’s all up to you.

While the world tries to make its impact on us, the brain is our personal vehicle for making an impact on the world. Life hits everyone hard, and it’s not brute strength that gets people through these challenges, but a level head. We discuss with motivational mastermind, Trey Downes, what mental skills are needed to break these chains and turn unrealized dreams into thoughtful action.

Trey Downes, our special guest today, is the host of his own podcast, Your Superior Self, designed to spread his insights on life improvement and conquering your mind.

In today’s podcast, we’re discussing the essential components of motivation, and the reasons why true success only comes to those who show dedication. The biggest takeaways from our discussion include:

• Bringing awareness to your self-constructed limitations.
• Why you need to surround yourself with positive influences, even if they’re miles away.
• The daily habits that translate into a positive mindset.
• The benefits of reading that go far beyond the text.
• How comparison becomes the thief of joy.
• Routines: the greatest limiter to creative potential.

“Whenever you start anything, you’re not going to be the best. You have to work your way up. You have to realize that the reward isn’t at the end…The reward is in the journey. The reward is finding out what you’re truly made of.” —Trey Downes

Get ready to start seeing the world a bit differently.

Podcast Summary:

01:35 - Trey discusses his own path to overcoming circumstances and fostering a mindset of awareness.

03:43 - How can I surround myself with positive influences when my circle is so small?

04:46 - The value of creating and listening to podcasts.

06:42 - I want to change my mindset. Where do I start?

09:30 - The habits that set you up for success.

11:46 - The right book will change your life, so never stop reading.

13:05 - Your true self: turning a person with potential into a happiness powerhouse.

16:09 - Separating expectations from reality, the “hack” from the work.

19:47 - Finding joy and filling in the part of your life that feels missing.

21:16  The path to restructuring your mind—thinking outside of the box.

24:13 - Trey’s income hack: it’s all in your head, positivity, vulnerability, and authenticity.

26:29 - Trey's income hack mistake: there are no shortcuts in life.

28:16 - Fun questions and wrapping up with Trey.

In today's digital world, the question investors are asking has moved from "Should my business have a website?" to "How can I build a website that best complements my business?" Anyone can build a website in a matter of hours, but what's less common is a website that can make a real impact and stand out from the rest. That's where the pros come in. Today, we discuss with our friend and website guru, Jessey Kwong, the foundational principles of web design that all investors should know,

Our guest today, Jessey Kwong, is the founder of REI Conversion, a company dedicated to helping real estate investors jump-start their own websites and take their investing careers to new heights. With his help, investors can build their own investing system, one that they can be scaled and automated into the future. He's also the host of his very own podcast, REI Conversion Podcast, where he shares his own tips and tricks on driving leads and expanding your investing toolkit.

In today's podcast, we're discussing how investors can improve their websites and take advantage of everything the web has to offer. Some of the highlights include:

• Choosing a developer you can trust.
• The general costs of building a website.
• The potential that websites offer companies that struggle to find leads.
• How to more effectively communicate with your website visitors.
• Headlines, website space, SEO, and designing the perfect online form.

"There are tens of thousands of new websites coming up every day. You still need to be doing your basics...You still need to be networking. You still need to be doing whatever you can to get in front of as many eyes as you can. And having a website is just another avenue to get in front of their eyes, but it happens to be a very convenient one." —Jessey Kwong

Podcast Summary:

02:03 - What are my options and what are the costs for building a website from the ground up?

04:57 - The advantages of having a website in today's investing market.

06:32 - Ways to drive traffic to your website and using traffic to generate leads.

08:33 - The common pitfalls that keep investing websites from reaching their potential, starting with the headline.

12:05 - Minimizing the amount of resistance to the end goal and optimizing your on-site forms.

15:15 - Maximizing your space "above the fold."

16:01 - The complexities of website SEO.

17:11 - The power of testimonials and the ideal time to ask customers to give one.

19:00 - Jessey's first income hack: starting an Ebay business.

20:02 - Jessey's biggest mistake and biggest win throughout his career and the lessons these taught him.

21:35 - Jessey speaks to IncomeHackers with his own pieces of advice.

22:46 - How Jessey would start over from scratch if he had to.

23:26 - What the next generation needs to know about real estate investing.

24:44 - Wrap up questions and getting to know Jessey better.

Episode Resources

REIconversion.com

resource.reiconversion.com

- How to make more deals
- How to structure deals
- How to find the money for deals
- Knowing when your exits are

Josh Elledge is the creator of Up My Influence as well as the authority on getting good deals on everything you buy. In this episode, he and Ryan talk about how to get great deals shopping for food... how to cut your bill in half... how to lose weight while couponing... and more!

Coach's Corner with Joe:

• 5 year plan to own 5 homes
• How many offers to make in order to find a killer deal
• Working with agents and off-market properties
• When to get discouraged vs when to just work harder
• BRRR strategy!

Today we'll talk about the opportunities out there during the current COVID-19 crisis. See what Ryan plans to do to still grow and profit while most people are content to wait this out.