Insider secrets - Home of the Passive Real Estate investor

Timeline:

[02:45] Introducing today's guest, 'Kaaren Hall'.

[03:37] In one word, describe yourself.

[04:03] A brief history from Kaaren Hall.

[05:40] Kaaren explains what a self-directed IRA actually is.

[06:52] Difference between a Roth IRA and a traditional IRA.

[11:15] 529 college accounts, ESA's, SEPs, and HSA's

[14:14] Investing with IRA's.

[20:07] Filing tax returns with IRA's for UDFI or UBIT.

[25:30] Setting up an IRA.

[29:03] How to make high-stake decisions.

[31:50] Kaaren's Insider Secret.

[34:06] Wrapping up.

To get in touch with Kaaren visit udirectira.com or email at [email protected]

Standout Quotes:

"You go through the industry, you do lots of different things and you learn what you're good at and what you're not good at" - [Bryan]

"You really have to focus in and figure out where you're at in the process when you're ready to close" - [Bryan]

"In 2005 we finished up, I decided I know everything about international real estate. I'm going to teach everybody else in the world" – [Bryan]

"I think that we will see a lot of asset price inflation over the next few years." – [Kent]

"The last 10 years, I learned a tremendous amount about what individual owners and developers need" – [Bryan]

"People are paying record prices for buildings. And so there's definitely a mismatch between where we are specifically today and where the market is" – [Bryan]

Key Takeaways:

• Kent describes himself in one word as "Intentional".
• I'm a Midwestern guy. I grew up in Kansas City, Missouri, and I went to college in Arizona.
• I worked for a developer that did strip shopping center company called Leo Eisenberg.
• After college I went to work for them and moved to Los Angeles and started working on properties.
• I started something called IRETO, the International Real Estate Trade Organization. And we tried to teach people in the US how to buy properties in China, in Japan.
• By 2008, there was a great financial crisis. We went from having thousands of people buying stuff from us and getting information from us to nobody really caring about international real estate.
• So that was my sort of third cycle of my life. And that was probably one of the tougher ones.
• I worked on a skilled nursing facility where the guy had owned some that never developed his own properties.
• Over my whole career, part of my career was helping big companies figure out how to do their capital and how to close their deals and how to restructure their properties.
• This half has really been more helping private individuals do $5 million loans, $10 million loans.
• I own 300 units today and I want to own 3000 units tomorrow. And we do is we provide the capital to allow them to grow from that 300 to 3000 units.
• We're based in Los Angeles and we have seven to nine deals right now that are construction projects in Boise, Idaho for multi-family.

Episode Timeline:

[02:13] I am super excited about our guest Bryan Shaffer.

[04:51] Bryan describes himself as Focused.

[06:00] Bryan shares his backstory.

[06:38] Bryan talks about when he learned that real estate is a crisis driven industry.

[09:34] In the end of 2010, 2011, Bryan joined George Smith Partners.

[18:13] Do you think it's a reflection of the pandemic and people wanting to get to a less crowded area?

[20:31] What is it structured finance mean or capital markets, or talk about some of that terminology a little bit and explain some of that more in a layman's term, if you would.

[23:33] what's interesting is you set a 30% return and unlike where are you finding 30% return today? Tell me about one of those deals.

[25:43] So do you think that there is the return, per all perspective of what the cap rate is?

[28:54] You sometimes have to make choices and decisions. And how do you go about what's your process for that?

[31:20] Bryan talks about which asset class makes sense.

[37:46] How to contact Bryan

Website: www.gspartners.com

Standout Quotes:

"If you really want to rise up spiritually, emotionally, mentally, physically, whatever it is, you've got to take some pains" - [Andrew]

"The lesson is that we can make it through any situation, as long as we have our foundation" - [Andrew]

"I didn't want to be just an average Joe going to work and coming home. And I just felt like there was so much more to life that I wanted to experience" - [Andrew]

"Being a good analyst basically means that you start with this premise, believe no one, believe nothing" - [Andrew]

"In the world of finance and maybe even in the world of business, rare is valuable" – [Andrew]

"I think when we're young, we have black and white, we see things in black and white" – [Andrew]

"The most important thing I've learned from all of my guests is the idea that pay attention to your intuition because that can provide a lot" – [Andrew]

Key Takeaways:

• Andrew describes himself in one word as "Relentless".
• I grew up in outside of Cleveland, Ohio in a little town called Hudson, Ohio.
• I started going off the rails with drugs and alcohol.
• And basically at the age of 11 was when I started getting high pretty consistently.
• I stabbed my father in the hand with scissors and spent a couple of weeks in jail.
• At the age of 16 or 17, I tried to kill myself. I saw a friend of mine going to rehab so I also went for rehab.
• I landed in Thailand with $2,000 in my pocket and no language skills, don't really know anybody. I closed all my bank accounts. I sold my car. I had no assets in the US.
• I taught finance at university and then after one year of teaching that I realized that, I'm never going to make any money being a teacher in Thailand.
• When we young, we have black and white, we see things in black and white.
• Think of creating wealth, and growing wealth as two separate things. You create wealth through your business. And you grow wealth through the stock market or through your investments.

Episode Timeline:

[02:51] And today, my guest is Andrew Stotz.

[06:12] Andrew describes himself as Relentless.

[07:10] Andrew shares his backstory.

[09:10] My parents gave me a one way bus ticket to Louisiana for the treatment center.

[10:49] Since September 15th 1982 till today, I have maintained my sobriety.

[13:50] Why did you leave Pepsi?

[18:00] So you got to Thailand, what'd you do when you got there?

[25:30] So when you're faced with a high stakes decision, how do you make that?

[29:28] Andrew talks about intuition.

[30:35] Talk a little bit about your books, your courses what you have going on?

[32:19] How to contact Andrew

Website: www.myworstinvestmentever.com (Send a message in about page and that will be sent directly to Andrew)

Podcast: "My worst Investment Ever"

Standout Quotes:

"My mantra for 2021 is to just be very intentional with my time and my decision making" - [Kent]

"I wanted to actively syndicate somewhere down the road, but I was self-aware enough to know there's a lot that I didn't know" - [Kent]

"There's a lot of asset price inflation. We're seeing cap rates coming down, but I think there's still quite a bit of room to run"- [Kent]

"I think that we will see a lot of asset price inflation over the next few years." – [Kent]

"Relatively speaking, interest rates have crept up a little bit but relatively speaking historically, they're still very low" – [Kent]

"There's a huge disparity in unemployment rates as you look at level of education and type of jobs" – [Kent]

"I think you get a lot out of people. And I think that it just really goes a long way" – [Kent]

Key Takeaways:

• Kent describes himself in one word as "Intentional".
• I've done that pretty well throughout my career. I think that's why I've been able to take advantage of some of the opportunities.
• I started my career out of college as a management consultant.
• About seven years into that career, myself and several of my coworkers left to start our own firm.
• We started a boutique management consulting firm. We were based out of Chicago, grew that to about 95 employees and 30 million in annual revenue.
• In 2015, we decided to sell that business and that was really what kicked off my real estate career.
• I started looking at alternative assets to invest in and found real estate, fell in love with real estate.
• I joined Birge & Held, Birge & Held existed prior to me. One of my mentors is founder there.
• A primary market would be somewhere like New York or San Francisco.
• We just don't have enough affordable housing in the US.
• You have negative yields there on bonds where you're paying money to hold it.
• So in a low cap rate environment, you just have to adjust your strategy.
• The banks and Freddie and Fannie learned from 2008.
• I personally believe that taking old rundown properties and making them nice and clean and new again, still at an affordable price is in some ways a social service.
• We have under contract right now a 72 unit property that was built in 73.
• We have several community programs that we implement, especially in our more C class properties.
• And so I think property management first off is going to make or break. You gotta have a strong property manager.
• You got to make sure you don't win the deal at the detriment to yourself.

Episode Timeline:

[02:12] I'm really excited about my guest today, Kent Ritter.

[03:32] Kent describes himself as Intentional.

[04:35] Kent shares his backstory.

[05:31 He talks about Boutique management consulting firm.

[09:02] You've got your primary market, your secondary market and your tertiary market, which you mentioned. Can you just explain those?

[11:32] And then when you dive into commercial and the different buckets, what's your biggest takeaway from the multifamily sector today?

[13:13] When you talk about a four cap, it's like, where the heck can this market go, Kent?

[20:00] But what do you guys do either by property or as a company on a whole, for any type of social impact to the communities, to the surrounding state stakeholders?

[22:50] How do you feel that you manage from an ethical standpoint your business operations, the team you lead and everything you do on a daily basis?

[26:16] How do you make high-stake decisions for yourself?

[27:50] Kent talks about the best players around him.

[32:05] Kent tells what they are working right now.

[32:51] Tell me about your favorite tourist attraction?

[34:27] How about favorite restaurant?

[33:43] What's the best book you ever read?

"Think and Grow Rich" by Napoleon Hill.

[23:30] How to contact Kent

Website: www.kentritter.com

Podcast: "Ritter on Real Estate"

Standout Quotes:

"Don't have too much pride that you need to know everything" - [Gary]

"We like to give ourselves margin for error so we can also have that flexibility to pivot our business plan if need be" - [Gary]

"We're constantly massaging our numbers and seeing, where might we spend more money?"- [Gary]

"There's a tons of foreign money that's coming in because multifamily real estate is still the best risk adjusted returns out there." – [Gary]

"Interest rates are going to go up and then it'll level off, but people need a place to place money" – [Gary]

"I don't think enough people out there understand what true asset management is." – [Gary]

Key Takeaways:

• Gary describes himself in one word as "Tenacious".
• I've been an entrepreneur as far back as I can remember.
• If I didn't have that tenacity, I wouldn't have been as successful as I was.
• With the cap rates compressing so much, we're not solely focused on what the buying going in cap rate is, but where we can drive it to and what our reversion is.
• You're not going to know everything. You're not going to know when COVID is going to hit next or Texas freeze.
• We have a particular style that we underwrite and we have an underwriter and then we fine tune it from there and then keep massaging it all the way through.
• I think you just have to be very careful on what you're investing in because there's 10 31 money, there's people writing really aggressively to get these deals.
• We focus a lot on Facebook marketplace for advertising and that's free. We didn't have to spend a lot of money on apartments.com and this and that.
• Property management manages the day-to-day operations of that property, leasing and turns.
• For an investor, know your syndicator, know your general sponsor.

Episode Timeline:

[02:28] I'm excited about our guest today, Gary Lapinski.

[04:57] Gary describes himself as Tenacious.

[05:14] Gary shares his backstory.

[07:45] Gary talks about integrity and ethics in life and business.

[08:54] How do you make high stake decisions?

[11:06] What's acceptable to you in underwriting from a financial metrics piece?

[12:25] Where do you think cap rates are going to go?

[14:19] Gary talks about Asset management versus Property management.

[17:10] Do you do asset management solely on your properties or do you do third-party?

[19:31] Technology wise, what other tools do you like to use?

[20:26] Any specific secret that you would give a new investor today?

[20:58] Gary talks about vetting a sponsor.

[22:03] What's your favorite tourist attraction?

[22:27] How about the best book you've ever read?

"Crucial Conversations" by Kerry Patterson, Joseph Grenny, Al Switzler, Ron McMillan.

[23:30] How to contact Gary

Website: aptcapitalgroup.com

Standout Quotes:

"I feel like I have something to share with others and it just drives me to keep pushing forward" - [Matt]

"When I see people that have every excuse in the book and they continuously build and grow and create assets and net worth, it fires me up that it truly is possible" - [Matt]

"I really believe it takes time and consistency, but anybody can get involved in real estate and that can change your life" - [Matt]

"I don't think people ever really regret making the right decision in the long run" – [Matt]

"Be the one that people want you in their foxhole and they know that you're going to have their back and get around as many of those people as you can" – [Matt]

"My whole thing was I want to learn as much as I can about every aspect of real estate" – [Matt]

Key Takeaways:

• Matt describes himself in one word as "Driven".
• I feel very blessed that I was introduced to real estate in an early age.
• If you want to buy a house a year, you can, and it might not be the first year. It might be the second or third or fourth, but you don't go out to have drinks.
• If I'm going to take time out of my day to go sit down with someone, I'm hoping that they're truly going to go take that advice and implement it.
• "If you want money, ask for advice. If you want advice, ask for money".
• I've been in the real estate business for 12 years. I started when I was 17.
• I found mentors. I sat down every day for an hour with anyone I could, learn real estate.
• The thing that I struggle with is I spent a lot of time networking.
• I'm always working deals. I want to give my time to people, I really do.
• It's super frustrating for me, when I want to go help someone and I don't find out they're serious.
• I think it's implementing a structure that I can put in place to still give people what I want to give them.
• I'm pretty big recently on just scheduling everything. Like I schedule time with the boys, it's on my calendar, two or three times a week, there's a two hour window.
• It's that's big money in front of your eyes, but you got to do the right thing.
• I don't need to own a hundred percent of anything. I just want to have the value that I bring, get taken care of.

Episode Timeline:

[02:50] I'm really excited about our guest Matt.

[04:29] Matt describes himself as Driven.

[06:11] Matt shares his backstory.

[07:34] Matt talks about his mom and her passion for Real Estate.

[10:42] Talk about who you are and how you behave?

[11:37] How much money do you put into your education on an annual basis?

[16:07] What's the biggest stumbling block that you find right now in your life that's holding you back from moving to the next level?

[20:09] Talk to me a little bit about acting ethically and how in your business, how in your life, those two things show up?

[22:24] How do you make high stakes decisions?

[23:26] What are some secrets that you use pretty often that you think other people could benefit from?

[25:20] Tell me though your favorite tourist attraction?

[25:55] Favorite Restaurant?

[26:09] Favorite book you've ever read?

"Trammell Crow, Master developer" by Robert Sobel.

[27:27] How to contact Matt

Phone: (512 914 806)

Email: [email protected]

YouTube: Teifke Real Estate

Facebook: Teifke Real Estate

Standout Quotes:

"I'm always trying to positively influence other people in my life, whether it's employees, my personal relationships, family" - [Seth]

"What I have really just found about acting ethically is that it results in a better outcome, whether you're in the workplace, trying to ensure that you have employees that are acting ethically" - [Seth]

"We always want to make sure that whether it's with the client or just interacting with each other on a team that we have a certain amount of integrity and we're never stabbing each other in the back "- [Seth]

"Most men live lives of quiet desperation and people are just afraid to think, or just get outside of their comfort zones and really take risks" – [Seth]

"Success is not only financial, but it's also how happy you are with what you're doing in your life" – [Seth]

"There aren't a lot of deals out there right now because of the limited supply of inventory. And it makes a lot more sense to do considerably more due diligence" – [Seth]

Key Takeaways:

• Seth describes himself in one word as "Adaptable".
• I take the mindset that I have to be able to adapt to every situation.
• I spent about five years in which my specialization was asset managers and insurance brokers.
• I went to Brazil for a bit and then realized I should go into purchase a franchise.
• So in investment banking, a lot of what we did was a leverage buyout. So you source capital from everybody and you purchase an existing business.
• I've always had a passion for real estate. It was a successful business.
• We've been around since 2002. And it's heavily project management focused, which is what my background is.
• What staging does is it brought into the pool of potential buyers and taps into their psychology, such that it facilitates the transaction quicker and for more money.
• We work with a lot of investors, as well as home builders. And what we will do is come in and stage like a model unit.
• We educate people that in a buyer's market, what you want to do is stage it so that you can sell your property quicker.
• Right now what we're seeing is it's definitely a sellers' market due to the limited inventory.
• I come more from the finance and business acumen perspective than a lot of these other home stagers whom have decorating experience or furniture experience.
• When I do have a high stakes decision coming up, I've always Journaled.
• Everybody always talks about these morning routines now. And I make my bed, I will meditate for 10 to 20 minutes. Then I read my goals and write down what I'm grateful for.
• Just having a set of morals and core values for your company. And one of our core values is integrity.
• If you're not afraid to fail, and you're obviously taking calculated risks and making sure that you're not doing things completely idiotic, then these risks are typically going to work out for you.
• If you find a hairy deal and you're excited about it because you have nothing else going on and you know that the timeframe is very tight, make sure you still do that thorough due diligence.
• Favorite tourist attraction of Seth is Grand Park in Chicago.

Episode Timeline:

[02:21] My guest is Seth Williams.

[03:33] Seth describes himself as Adaptable.

[05:25] Seth shares his backstory.

[07:27] Seth talks about his passion for Real Estate because it was a successful business.

[08:05] Do you really believe that staging a home for sale, whether somebody lives there or doesn't live there, makes it more of a saleable asset?

[09:49] What can you do for somebody in the multifamily space?

[12:04] Who's your best client?

[15:07] How do you find yourself making a high stake decision?

[21:29] An Insider Secret from Seth

[22:35] What advice would you maybe give an investor today coming into the marketplace?

[24:33] What your favorite tourist attraction in Chicago is?

[25:39] Favorite Restaurant?

[26:19] Favorite book you've ever read?

"How to Win Friends and Influence People" by Dale Carnegie.

[27:13] How to contact Seth

Website: idhomestaging.com

LinkedIn & Facebook (Interior Drama)

Standout Quotes:

"You can't do everything. So you have to really limit what you're able to do and focus" - [Bronson]

"Multifamily is a team sport, you can't do it yourself. You can't do everything. If you try to do everything, you're going to be stuck" - [Bronson]

"If you're willing to learn, amazing things can happen" - [Bronson]

"There's a huge difference between somebody who talks about real estate and someone who's actually doing deals" - [Bronson]

"Create a meet up or start some sort of thing that adds value to people that you can really bring people" – [Bronson]

"My passion really is to help busy professionals to discover truly passive income" – [Bronson]

"The thing I talked to a lot of people about is just if you can't scale your real estate or it sounds overwhelming, you're not really in a passive investment" – [Bronson]

Key Takeaways:

- Bronson describes himself with one word 'Focused'.

- Bronson says that he is a value centered person and likes to live from a place of what is really most important.

- I never met a tangent I didn't like, so that's been challenging for me.

- You really can't do everything. There's a lot of great ideas, but at the end of the day, you have to focus in and say, what is it I want to do?

- I had done medical consulting and medical sales for years, went into surgery, working with doctors, all kinds of different heart surgical stuff.

- I told a cousin that I am planning to buy 30 houses in the Cleveland area and want to retire with passive income.

- I ended up starting a meet up jumping in with both feet and really diving into the deep end of the pool.

- My first multi-family deal after doing single families was 225 units in Texas. And I raised a small amount of money for a deal and feeling, Oh my gosh, that's a huge jump, how could you do that?

- My first investor actually did not come from my friends or family, which is unique.

- A lot of people just talk a big game, but they don't do anything.

- As far as the properties that we're doing and the 800 plus units, the four properties, mostly in the South, I'm very involved as far as asset management.

- If you can get to know other passive investors, that's very helpful.

- There's things that really good operators do is the first thing is that typically they're very conservative.

- If you're assuming that Dallas is going to grow at 5% rent growth per year, as it has for the last five to 10 years. I personally don't think that's very conservative.

- Life is not cookie cutter and black and white and things don't happen very ideally all the time.

Episode Timeline:

[02:36] My guest today is Bronson Hill.

[04:34] What one word describes you?

[07:14] Bronson shares his backstory.

[10:37] You don't know anybody, you come into the space. You raise money for a 225 unit deal. Who do you go to? Who do you talk to first out of the gate?

[14:31] So tell me how involved you were and you are today on the general partnership side or the limited partnership side?

[16:28] You have some money that you want to invest passively. What's the best way to vet a sponsor?

[19:08] Let me ask you though, how do you make tough decisions?

[22:26] How do you want to be communicated with by the sponsor? And then how do you disseminate that information to your investors?

[25:08] What are your most effective ways to get yourself in front of potential investors? How are you raising capital today?

[28:42] Bronson gives advice to a new sponsor & investor.

[30:49] Bronson shares that he's not driven by mighty lifestyle. His why is fighting human trafficking.

[32:06] Favorite tourist attraction.

[32:55] Best book ever read; "Never Split the Difference" by Chris Foss.

[47:08] How to contact Bronson; Email at ([email protected]) or visit Website (bronsonequity.com)

Timeline:

[02:31] Today, I'm excited about my guest, Dan Kryzanowski.

[03:57] In one word, can you describe for us what best describes you personally and professionally?

[05:50] Dan shares his backstory.

[09:21] Do you think that you wind up resting on your laurels, that people get comfortable and they feel like we've got this?

[11:09] So in your own personal career, what's been a real defining moment for you to take you to where you're at today?

[14:50] Do you think we're going to stay like this? Or do you see a looming effect that's going to happen here in the market?

[19:57] Dan discusses about the stock market and shares a personal short story that relates to it.

[25:49] Let's talk about raising money, right? So when you raise money and you're in this dynamics right now, what do you say to investors?

[28:53] When you're raising private equity, how do you go about doing that?

[30:29] Do you ever see yourself or do you ever see those types of deals get into a place where people go, man, this is too good to be true?

[31:48] What advice would you give an investor in the multifamily space today?

[33:58] Favorite tourist attraction?

[35:35] Best book ever read; "Skin In The Game" by Taleb.

[38:29] How to contact Dan, search for Dan Kryzanowski on LinkedIn.

Timeline: [01:51] We're going to talk to Jennifer Grimson. [04:01] in one word, describe to the listeners, what describes you personally and professionally? [04:45] Jennifer shares her backstory. [06:02] So here's what I want to know. You got divorced and your ex-husband sued you 25 times for what? [10:26] After that happened, then where did you go from there? [14:04] So how long did it take you to fix your credit? [19:02] Where are we at today now? [24:32] So even after all those lawsuits in that you still had your 401ks and you were able to leverage on there? [27:14] So how did you take that money? Did you put it into a self-directed IRA and do the investment or did you pull the capital out and borrow it against your IRA. How did you structurally set that up? [29:08] Jennifer talks about Micro Empires. [38:21] Jennifer shares about her current life and where she is today. [42:51] There's always a higher stake decision that we have to make somewhere, but how do you do that today? [47:08] How to contact Jennifer; Book an appointment to speak at (micro-empires.com), on Social media search for Jennifer Grimson or Micro Empires.