Income Hacker with Ryan G. Wright

As you dig into the real estate world, you may discover a huge amount of details you should’ve learned years ago and got frustrated. But stop worrying so much, because as we learn new amazing income hacks each episode, we come across wonderful guests that help us all have a clearer view of what, when and where we should make our first steps to hack our income. Meet Dustin Heiner: A real estate rental property investor who had the capacity to make enough passive income from his business and quit his job when he was 37 years old. 

Dustin is the Founder of Master Passive Income, a blog and podcast about investing in real estate rental properties. A husband and father of four children, Dustin supports people who want to quit their jobs and invest in rental properties to achieve their dream lives. Through his courses, programs, videos, articles, and podcasts, Heiner is showing more and more people how to stop being scared of losing money and investing and find good rental property deals.

In this episode, we will learn from Dustin when is the right time to buy rental properties, why this allows you to live from the money your own properties generate and some of his favorite strategies to buy, fix and rent. Plus he shares with us the three steps to get started in rental properties that led him to now own 32 houses. Stay with us to discover how Dustin hacked his income, and the huge importance of teaching your kids the value of money, savings and giving back to generate a positive impact in the future. 

“You are worth so much more than anybody could ever pay you.” - Dustin Heiner

Podcast summary:

02:38 - How to live from rental properties and how Dustin now owns 32 houses.

04:51 - Why everyone could get started in real estate investing just by finding the right strategy.

06:54 - The three steps to get started: Clean, Increase and Build.

11:25 - The power of quick wins and to-do lists. 

15:41 - Going out there and overcoming fears: out-of-state investment.

19:13 - Why Dustin is not worried about what could happen to the market.

22:44 - From reseller to employee, to investor: Dustin’s first steps as an income hacker.

25:02 - Not knowing things, belonging to the wrong funnels and not getting a coach: Dustin’s biggest mistakes.

27:58 - How to build an empire from scratch by house hacking.

30:48 - How not to raise rich kids, but income hackers: teaching your kids the value of money, the importance of saving, giving back and their roles as providers in their family.

37:19 - 20K properties and tips from Dustin to help you find one.

40:29 - Dustin’s why - ‘I never want to work a job again’.

 

Connect with Dustin

Follow Dustin on Instagram 

Follow Dustin on Twitter

Connect with Dustin on Linkedin

Follow Master Passive Income on Facebook

Check our Dustin’s FREE Real Estate Investing Starter Guide

 

Episode Resources

Rich Dad Poor Dad by Robert T. Kiyosaki

The Richest Man in Babylon by George S. Clason

How to Win Friends & Influence People by Dale Carnegie

Evernote

We know there are tons of useful things that we should’ve learned when we were kids, like personal finances, time management, or learning to save money instead of spending it all.  However, when it comes to designing and achieve plans for the future to live a joyful life, today’s guest Paul Adams, is here to make sure that you have enough tailored solutions to plan and achieve your current, bright and future goals. 

From Everett, Washington, CEO & Founder of Sound Financial Group, Paul focuses on helping clients define and reach unique and tailored financial goals to improve their lives. Paul is also a financial coach, accomplished speaker, and conference panelist. He has published financial text guides like Stop Burning Your Money and has been interviewed by Forbes, Entrepreneur, and Inc. Paul enjoys traveling, hiking, spending time outdoors with her wife and kids, and hosts his own podcast: Your Business Your Wealth.

In this episode, we will learn the importance of language when it comes to designing and building a good life; how to build your own strategy instead of following someone else’s; why you need to stop saying ‘I can’t afford it’ and start saying ‘It would break my strategy’ and learn patience to achieve awesome results in the long-term, instead of going for short-term gains and realizing it’s too late. Above all, Paul is here to share his knowledge and passion for helping others maintain healthy balance sheets and better steward their finances. 

“People get their future by default, not design.” - Paul Adams

 

Podcast summary:

(02:53) - Money is not everything: designing your personal, professional and financial future.

(05:59) - The thief of all joy and why you may be going the opposite direction from what really matters to you.

(10:42) - Managing expectations: how to design your lifestyle without shooting too high.

(13:32) - Why a “produced dissatisfaction” and treating yourself is not letting you achieve financial goals.

(17:44) - No wonder you are afraid of retirement: why you should pursue financial independence.

(21:27) - Not breaking your own strategy and how your choice of words can impact the people around you.

(27:08) - Paul’s income hack: funding a life insurance policy, bank style.

(29:35) - The 2 million loss: what Paul wants you to learn from his mistakes.

(33:44) -  Acknowledging the value of the real estate underneath you and why you won’t achieve financial independence by selling your business.

(35:36) - What you own versus what you owe: achieving a strong balance sheet.

(37:39) - Feedback loops, short term satisfaction and attempting to fix your financial mistakes when it is too late.

(42:26) - Why Paul would make the same decisions regarding his lifestyle design plan all over again.

(44:16) - Paul’s why? A better life for his family.

 

Connect with Paul

Download Three Money Mistakes No One Talks About And 6 Ways To Solve Them, Paul’s latest White Paper. 

Follow Paul on Instagram

Follow Paul on Twitter 

Connect with Paul on LinkedIn 

Sound Financial Group

 

Episode Resources

Atlas Shrugged by Ayn Rand

Usually, when we talk about real estate, the first scenario we imagine is regular houses in suburbs or properties near to big cities. However, it’s time to look at one of the oldest and most valuable asset classes in the real estate market: farmland. Our guest for today grew up in a farm in Arkansas, and ever since he was very little he got passionate about agriculture and conservation. Join us on this Income Hacker episode and discover how Carter Malloy’s went from being a successful managing director focusing on real estate research to founding the high-return low-volatility asset class, AcreTrader.

After finishing his bachelor’s degree in Physics, at the University of Kansas, Carter entered the investment world and worked for 5 years in a long and short equity firm. Soon he realized there are only two types of land: the one you can buy and speculate with, and the land that actually generates income. Malloy has always been an entrepreneurial soul and is convinced that you can start investing in farmland with less than 5K dollars and generate stable returns.

In this Income Hacker episode, Carter Malloy will reveal to us why volatility is a crucial factor in this investment class; how a nearby farm that loses its crops could be actually beneficial for a farmer; the importance of water accessibility to maintain a farmland and the reason why there are around 30 billion USD of assets invested in farmland (even if it’s not a get-rich-quick scheme).

“You make money from renting the land to the farmer and from the appreciation of the land, when you add both it gets attractive for farm investors.” - Carter Malloy

Podcast summary:

02:54 - Why investing in agriculture is not a horrible idea and how farmlands have created stable returns to its investors.

04:55 - The endgame of farmland investing: rent + appreciation.

07:05 - How Carter can prevent you from investing in the wrong farmland.

09:43 - The sponsor deal structure in farmland investing.

11:41 - Agreements with farmers: who owns the crops and the land?

16:05 - Risks of owning a land you should take into consideration.

20:58 - Farmland liquidity: how Carter can help you sell your property.

22:37 - How volatility in farmland could end up being beneficial for you.

24:08 - Debt, equity, and leverage: why farmland is not a get-rich-quick scheme.

28:23 - The numbers don’t lie: why even Bill Gates is interested in farmland.

29:53 - How to lose a ton of money in farmland: statistics you should consider.

35:03 - How to start investing in farmland with 5K USD.

 

Connect with Carter

Follow AcreTrader on Instagram - @acretrader

Follow AcreTrader on Twitter - @acretraderinc

AcreTrader: Investing in Farmland

Hey Income Hackers! Are you ready to become a million-dollar machine? Our guest for today is completely sure everybody needs a coach in their lives, and he is ready to give you the best version of himself to improve your personal development, with an awesome mix of energy, substance and a 15-year network. Micheal Burt represents a new age of leadership in this world. He is the go-to guy for entrepreneurs, salespeople, and managers that want to get the highest levels and performances of their lives.

Michael was the Head Women’s Basketball Coach and Athletic Director of the Riverdale High School for almost ten years, he has written more than 13 books and has coached several real estate agents and investors to change their mindsets for their own benefit. Burt sees adversities as opportunities to grow and learn, and he is convinced it all stands out in how you look at struggle and face frustration within life. 

Walk with us in this new episode and learn with Micheal why you have to retreat to attack, quit thinking about you and getting lost in someone else’s dreams; why you need to change your environment to change your stakes to think different and positive, and why most coaches teach sales techniques but won’t mentor you at a personal level. Discover why Micheal is building his legacy by giving back to children, helping others put their hearts and minds on sync. 

“A good coach understands how to activate the prey drive skills in a person.” - Michael Burt

 

Podcast summary:

02:06 - How Micheal went from coaching basketball champions to mentoring top business people from all over the world.

04:08 - What is prey drive and why Micheal believes it is not exclusive to the animal kingdom. 

06:12 - How to activate your prey drive and why Micheal believes you don’t need a purpose in life to activate it.

11:59 - How to protect your prey drive and why Micheal believes adversity could be the best thing to ever happen to you.

14:38 - Progress, not perfection: how to keep pushing through adversity and not give up.

19:40 - Skills versus mindset: why Micheal thinks passion is more important than talent. 

21:10 - Retreat to attack: how to get out of a slump.

25:18 - Micheal’s first income hack and why a check made him open his mind to new arenas.

27:02 - What Micheal would change if he could time travel to the past.

28:16 - Why Micheal thinks of his first 10K people conference as his biggest success.

29:11 - Micheal’s advice for you if you are struggling and thinking of giving up.

31:06 - Paying attention to who you are taking advice from and why Micheal suggests you to invest in your knowledge.

35:28 - How Micheal is building his legacy by giving back to children.

39:24 - The reason Micheal gets out of bed every morning and why he believes everyone needs a coach.

 

Connect with Micheal

Follow Micheal on Instagram 

Follow Micheal on Twitter 

Person Of Interest by Micheal Burt

Monster Producer Coaching 

The Greatness Factory

The Greatness Factory For Kids

 

Episode Resources

The 7 Habits Of Highly Effective People by Stephen R. Covey

The 8th Habit: From Effectiveness to Greatness by Stephen R. Covey

Voxer

If you’ve been looking for your WHY? look no further than today… Coach’s Corner is on your way! Income Hackers welcome to Coach’s Corner, the show where you get the chance to experience a LIVE personal coaching session with people from every background at any stage of their real-estate careers.

Today, we will learn how to really get started in real estate investing, the reasons to look at investing out-of-state, understanding the areas, how to achieve financial independence in less than ten years, and much more. Discover Lincoln’s biggest dream, becoming a mental health counselor/therapist and providing his family with a higher income than a beginner therapist can.

Lincoln knows for a fact financial freedom is not about leave-it-all and move to a bungalow at the beach, but for you to have freedom of choice. He’s convinced there are two kinds of budget: the basic one and the lifestyle budget. He is aware as well that there are two ways to get cash flow: either you create it or you buy it. Stay with us and discover what exactly is reverse engineering and how to get 6,600 USD of net cash flow every single month, thanks to it.  

 

Lincoln’s background:

• Lincoln grew up just outside of Salt Lake City, Utah.
• His main passion is psychology but he is also drawn to business and entrepreneurship.
• His goal is to become financially independent before he begins a career as a mental health professional. 
• Lincoln took a risk and participated in a Kickstarter campaign that unfortunately didn’t result in his financial freedom. Still, he thinks of this as a great learning experience.
• Currently, Lincoln works as an Account Executive at a tech company.
• Lincoln’s WHY? Following his passion, fulfilling his calling in life and helping others without putting his family through financial distress.
• He is currently receiving one rental income by house hacking.
• His goal is to get a property in the next six months.

 

Podcast summary:

18:07 - How passive income can help health professionals leave the “Rat Race” and even enjoy their practicing more.

20:15 - Lincoln’s current passive income: his very own house hack.

21:17 - Lincoln’s Plan A and Plan B: basic budget versus lifestyle budget.

23:00 - Reverse engineering: a thousand ways to get to your income goal.

26:34 - Lincoln’s 20K investment plan choice: The BRRRR Method path.

29:23 - The BRRRR Method downsides and an alternative strategy: Fix & Flipping to the top.

33:19 - How to get started in real estate and the nine skills you will need to find your way in the market.

36:23 - How equity and motivations will lead you to the perfect property to get started.

41:21 - Deciding on a strategy and doing your marketing to start building your portfolio.

43:26 - Reverse engineering your way: your process is more important than your goal. 

48:13 - Lincoln’s takeaways and Ryan’s tips to achieve his goals.

51:55 - Why out-of-state investment may scare you and Ryan’s recommendation on it.

When we have a clear view of what do we want to achieve in life, everything else falls in the right place. Dusty Baker has the full tool kit to help you outgrow your real estate business and deliver to your clients an experience full of satisfaction when closing deals. Discover why Dusty doesn’t consider his primary residence as an investment even though he makes money off it, solve the exact equation to buy real estate, and learn to never overpay for a property even when you have a nice cash flow in your life.

Born and raised in Santa Barbara California, he has established reputation and knowledge in the local market, earning amazing titles like “Agent of the Year” and “Top 40 Under 40”. Dusty knows that is easy to get a real estate agent license, but it is not that easy to be an actual good real estate agent. He knows his field like the palm of his hand and looks for excellence in every aspect of his business and life. 

In this episode, Dusty shares with us the power of being careful in the real estate business, as buying and selling luxury real estate deserves the finest attention to detail. We’ll learn how great the real estate market when it comes to investing and how ‘Average Joes’ can have a property, fix, manage it and make money out of it. Stay with us as Dusty shares the story that led him to be one of the best real estate agents in the state of California. 

“I recommend every single person to get a coach, but do your due diligence and find the best.”  - Dusty Baker

 

Podcast summary:

03:55 - The reasons why Dusty decided to join the Real Estate Agent Army.

05:26 - Why even an Average Joe could become a millionaire by investing in real estate.

08:05 - The house hacking story that made Dusty believe in the American Dream.

10:01 - The concept that helps Dusty make more money than his financial advisor.

12:42 - Choosing between appreciation and cash flow.

16:22 - The fortune-teller: Dusty’s predictions for the market.

10:07 - How submarkets and rental prices are intertwined with the real estate market.

24:40 - Dusty’s thoughts on fixed and variable interest rates and why he suggests you be conservative and have some safety nets.

28:34 - How 16-year-old Dusty went from frustrated teen to earning 30 USD an hour by parking cool cars.

31:56 - How Dusty earned more money by looking for the most intelligent people in the world and why he advises you to look for the best coach you can find.

 

Connect with Dusty

Follow Dusty on Instagram 

Send an email to Dusty Baker 

Dusty Baker Real Estate

Did you know there are hundreds of real estate agents house hacking out there? If you don’t know what it means to house hack or you are wondering why everybody is doing it, you can stop looking for an explanation. Today’s show is all about house hacking techniques, the BRRRR Method and why making an extra effort to achieve your goals and dreams will give you the satisfaction you need to keep going in life. There’s no need for doubts, Craig Curelop will make sure you start buying real estate TODAY.

From Palo Alto, California, Craig’s journey to financial freedom started when he graduated from college with a Bachelor of Science Degree in Business Administration and a 90K student debt.  From a negative net worth of 30K in 2016, Craig saved and invested enough to achieve financial independence this year. After years of hustle and savings, Craig now has a lifetime of options to invest and make more money out of the money he already has. Author of The House Hacking Strategy, and Financial Analyst at Bigger Pockets, a community that goes step by step on helping others achieve financial success, Craig is convinced that it takes a lot more than just not liking your 9-5 job to look for financial independence.

In this episode of Income Hacker, Craig Curelop shares with us how he was able to invest in three house hacks in Denver, how he started with the BRRRR Method and how you can buy rental properties without using any money out of your own pocket. Plus, the motivation everyone needs to not give up on their financial dreams, and how you can increase your house hacks and your cash flow while investing in other forms of real estate.

"The House Hacking Strategy is a great way to build wealth. Don’t be afraid to get started, you have a very high probability of success.” - Craig Curelop

Podcast summary:

03:01 - The 90K student debt that made Craig pursue financial independence. 

05:12 - The reason that kept Craig from giving up on his journey.

06:00 - How a single year of hustle and savings can end up in a lifetime of options.

07:34 - How to completely eliminate your housing expense and live for free by house hacking.

08:22 - How to improve your financial position, build your investment portfolio, and gain confidence through real estate.

10:25 - How Craig used Airbnb to build a strong financial foundation and screen out the bad tenants. 

15:27 - How house hacking and actually sleeping on a futon can result in great financial success.

20:57 - Not changing your lifestyle can lead to great things in the future.

22:10 - How enhancing a property can result in infinite returns: The BRRRR Method.

25:34 - Getting unlicensed contractors and unreliable project managers: do not make these mistakes, Craig already made them for you. 

31:12 - The lessons Craig learned from his latest BRRRR deal: Get background checks on your contractors and know exactly what you want beforehand.

33:08 - Why you should hold on to a property when going through a downturn and have a strategy for each scenario.

36:42 - Why Craig still pursues his financial independence.

 

Connect with Craig

The House Hacking Strategy by Craig Curelop

Follow Craig on Instagram 

Bigger Pockets: Real Estate Investing Education, Tools & Networking 

 

Episode Resources

The Four Hour Work Week by Timothy Ferris

When you discover your passion at a very early age, it’s more than evident for everyone around you. Whether you want to be a doctor, an actor, a politician or a real estate agent, once you find your passion, there is no turning back. That’s what happened to Marco Santarelli with real estate: he purchased his very first real estate investment at the young age of 18 and he did it like a pro. He handled the entire rehabilitation and property management without taking a course or reading a book and knew from the start he was a natural. 

Marco Santarelli is an investor, author, and founder of Norada Real Estate Investments, a national real estate investment firm that offers turnkey investment property in growth markets. Santarelli knows all about giving the perfect maintenance to any property, from changing the electrical and plumbery installations to delivering the perfect home to buyers. According to Marco, his real estate company is ‘market agnostic’, which means that every research they make in the market is based on the local economy and housing factors of each place, instead of the investor demand. All of this he has learned from years of experience, understanding that every state in the US is different in the real estate market.

 

In this episode, Marco shares with us why real estate is the most powerful investment vehicle that anyone can have access to, the key differences between a passive and an active investor, why is not safe to speculate on the real estate market and the reason why investing inside your state is better than doing it outside. Stay with us in this Income Hacker episode and find out how to find the right loan for YOU!

 

“There's always a good time to invest in real estate... what changes is the strategy.” - Marco Santarelli

Podcast summary:

02:26 - How turnkey investing really works and investing funds for real estate. 

11:33 - How to get the best loan deal in the world according to Marco. 

15:34 - Where we are at the market cycle and what can happen to your investment if the market goes down. 

21:34 - What happened to the rental market in 2008?

24:35 - Why you should be investing outside the state you live in.

28:13 - The benefits and write-offs you can achieve in real estate from Marco’s perspective.

32:10 - Marco’s first income hack as a kid: hiring his brother as an employee.

33:33 - Marco’s income hacking mistakes and things you should avoid doing: not holding a property long enough and paying taxes on it. 

36:05 - Marco’s greatest income hack: turning his real estate investing game into a business.

38:00 - Marco’s vision to help 1 million people create wealth and passive income through real estate.

 

Connect with Marco

Follow Marco on Instagram 

Passive Real Estate Investing

 

Episode Resources

Rich Dad Poor Dad by Robert T. Kiyosaki

When it comes to looking for financial freedom and pursuing the idea to achieve so, there are endless stories, but only a handful achieve them before turning 30. Today’s story is shared to prove us all wrong: Even though closing the first deal is one of the hardest things real estate investors have to do, once you have achieved that goal, it is a real eye-opener. That’s what happened to Mathew Porcaro. He spent three years cracking the real estate code and he doesn’t seem to be stopping anytime soon.

New York-based Mathew Porcaro, realized at the young age of 24, he was never going to achieve success by working at a regular 9-5 job and that’s when he started getting involved in the real estate universe. As most Income Hacker guests’, Porcaro had his first approach understanding how people get rich with Kiyosaki’s master book. He proceeded to scoop into stocks and options trading, whilst educating himself in the finance journey. 

Today’s episode is all about Mathew cracking the real estate code: Making deals of 900% ROI with 9500 USD, applying to 203K loans (only once) and achieving deals to keep buying properties. From trying everything and feeling down to earning $2000 per month from the first deal he made, Porcaro is here to teach us the importance of picking up the correct coach, being careful of the mentors that don’t practice what they preach and transitioning to become the most interesting man in the room. Tune in this Income Hacker episode and listen up, because Mathew will reveal to us the secret to the 203K program! 

“Something that I only dreamed of getting is something that is now happening to me all the time, and that is because of that one deal.” Mathew Porcaro

 

Podcast summary:

02:31 - What is the 203K loan and how Mathew used it to start his real estate investing career. 

08:23 - Not the sexiest way to do it, but getting rich slow is the way to go.

13:22 - The power of finding someone to hook your wagon to and how you can find your way to success through a mentor.

17:00 - A lot of paperwork involved: qualifications you should consider before applying for a 203K loan.

22:14 - How a single FHA loan opened plenty of doors and liberated Mathew from using conventional bank financing.

24:33 - Why you will only want to apply for a 203K loan once.

29:32 - How Mathew wrapped up the FHA loan and obtained a glorified line of credit for it.

32:20 - The snowball of wealth: from struggling every day to becoming the most interesting man in the room.

35:35 - How developing a worksheet and finding a reputable contractor will result in wonders for your next project.

44:11 - How hiring a 203K consultant can help you save money on your next contract.

45:34 - How money volatility inspired Mathew to pursue financial stability and help other people.

 

Connect with Mathew

Follow Mathew on Instagram

 

Episode Resources

Mathew’s manifesto 

You2 by Price Pritchett

In this Income Hacker episode, we will dive deep into house hacking, the importance of living the moment, and how having success in life is all about strategy, life design and sharing your message before others do. Timing is everything in life, so you better listen to today’s show, start using your money to make more money, and discover why Daray gets paid to live for free.