Let's Talk Real Estate Investing with Sharon Vornholt

If you learn one thing from this show today, it is that achieving financial freedom is possible at any age and at any stage of your life.

Here are some things you need to think about though.

First of all, what does financial freedom mean to you? Have you clearly defined what that looks like for you? If you have, do you have a plan for achieving financial freedom?

If you don't, you're definitely going to want to listen to this show. My guest today is Florida investor, Tyler Sheff of the popular Cash Flow Guys Podcast. Tyler is a buy and holds landlord that specializes in small, multi-family properties.

Tyler is going to tell you how he got seriously achieved financial freedom in just 11 months. You're also going to learn why it's never too late to start your journey to financial freedom through real estate.

Show Notes

Here are some of the highlights of this show:

• How Tyler got started in real estate
• His business model and why it works for him
• Tyler's definition of financial freedom
• The "ah-ha" moment when he realized achieving financial freedom was possible much faster than he originally thought it was
• Building a runway; creating a timeline to get out of the rat race
• The steps he took to pay off his debt
• How he decided the amount of money he needed to live comfortably, and why you may not need as much as you think
• Why achieving financial freedom is possible even for someone even 50, 60 years old (and beyond) through real estate
• The systems Tyler put in place so that his business continues to run without him
• Tyler's advice for anyone that wants to create their freedom plan

Be sure to stop by the Louisville Gal's Real Estate Blog and pick up your freebies!

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Today I want to go over how to build direct mail lists that get results and the method for doing that. Let's face it; no one wants to spend their time and money sending out direct mail that doesn't get your phone ringing. For those of us that target off market properties, direct mail is the only way to effectively market to some of the niches like probates so it's important to get this right.

The results you get from your direct mail campaigns can be affected by many factors. However, there are 4 essential parts to every direct mail campaign and if anyone of these is missing or is not quite right you won't get the results you anticipated. What's even worse is that you will likely waste a lot of money in the process.

4 Essential Components to Any Direct Mail Campaign

Here are the 4 main components to any direct mail campaign:

• The list
• The mail pieces
• The message
• The mailing (the campaign)

It really doesn't matter of your message is great or which type of mail piece you send if you don't get this right. So today I'm going to focus on one important piece of that puzzle, and that is how to build direct mail lists that get results.

Show Notes

In this show I'll cover:

• The components of a good list (vs a bad list)
• What information should be included
• Tips for reaching the right prospects
• Selecting the area(s) you want to focus on (and avoid)
• Choosing price points for your properties (high and low)
• How much equity must the property have to be included in your list
• Criteria for an out of state absentee owner list

How About You?

Are you using direct mail in your business? If you are, how are you building your direct mail lists? Let me know.

Be sure to stop by the Louisville Gal's Real Estate Blog and pick up your freebies!

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My guest today says he'd always wanted to own apartment buildings since he was a little kid, and that's just what he has done. He made investing in multifamily properties and showing others how to do the same thing his life's work.

My guest today is Charles Dobens. Charles is an attorney and he is the founder of the Multifamily Investing Academy. His legal and consulting practice has one specialty; helping new investors overcome any lack of confidence in moving toward their financial objective of owning and operating multifamily properties.

Show Notes

Here is some of what we talked about today. If you're already investing in apartments or if you're still thinking about investing in multifamily properties, you won't want to miss this show.

• How an attorney that also had an insurance business ended up in real estate
• Why Charles believes being an attorney gives him an edge; it's not what you think
• Changing his legal strategy; helping investors before they need his legal advice
• Why he always wanted to invest in apartments, never single family homes
• The reason understanding financial statements is they key to success with apartments
• Why he is so interested in workforce housing today, and how understanding this can benefit you
• Marketing; finding properties
• His criteria for buying apartments
• Why he always makes a down payment
• Explaining "broker math"
• His philosophy: every person selling has a problem; your job is to identify and solve the problem
• Why pivoting is so important at this moment in time
• Multi-family Investing Academy

Be sure to stop by the Louisville Gal's Real Estate Blog and pick up your freebies!

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How would you like to know how some smart, savvy millennial real estate investors are changing the way they think about wealth building? Can you imagine being financially free at 30? Well, that is the goal of my guest today.

My guest today is Jonathan Farber, a side hustle investor that lives in Raleigh North Carolina. Jonathan currently has 8 properties which include 2 Airbnb's at this time some of which he acquired through house hacking. You might be interested to know that his Airbnb's are doing well today due to their unique location.

If you think you're too old or too young to begin investing in real estate, think again. That's one of the things I love about this business. The barriers you often find in corporate America just don't exist in real estate investing.

Show Notes

Many millennial real estate investors are changing the way they think about wealth building. For them, that change often starts much earlier than previous generations. No matter what stage of business (or life) you happen to be in, I can promise you're going to have a new perspective by the end of this show.

Here are some of the highlights of this show:

• How this millennial investor got started at 21 years old
• What his first deal looked like
• How Jonathan's ideal type of property has evolved over time
• What made him rethink his lifestyle soon after finishing college
• Building a portfolio of 8 rental properties by the time he was 26
• Why the location of Jonathan's Airbnb's has kept them rented even during a pandemic
• How making learning his focus has changed everything both personally and professionally
• Rental arbitrage: what it is and how it works perfectly for Airbnb's
• The only 3 things he thinks he should be spending most of his time on
• Why it's important to make systems and processes one of your top priorities
• Outsourcing
• The app he uses to analyze deals "on the fly".

Be sure to stop by the Louisville Gal's Real Estate Blog and pick up your freebies!

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Investors have been kicking this topic around for as long as I can remember. Which is better for finding distressed properties? Off market deals or the MLS? I suppose that depends on who you ask.

I know a lot of investors that get the majority of their properties off the MLS. They have mastered the art of finding good deals. Some of them follow properties by days on the market, they create spreadsheets and wait for the seller to become a motivated seller.

You know which camp I'm in. I love off market deals. Whether you choose to work off market deals or the MLS (or a combination of both) is very much an individual choice. So, let's take a look at the pros and cons of each of these.

What are Investors Looking for?

Investors are looking for distressed properties in most cases or other hidden gems where sellers have other motivations for wanting to sell quickly in this competitive seller's market. At the end of the day, real estate is a number's game so you need multiple ways to find deals. There are so many different types of off market deals they are a great source for finding properties.

Finding Deals on the MLS

The MLS or Multiple Listing Service is the most comprehensive database of properties for sale across the country. It is in fact not a single database, but it's made up of hundreds of regional databases in the US.

In a world full of memberships today, the MLS was one of the first to adopt that model on such a huge scale. You must be a licensed Realtor or broker (or their assistant), and you must pay to have access to the MLS.

The Pros of the MLS

The information is generally accurate since agents are required to follow listing guidelines. For anyone looking for property in a specific geographic area, the MLS is the ultimate database for doing that.

The Cons of the MLS

• There is a lot of competition on the MLS! When you're deciding on whether to focus on off market deals or the MLS, this is definitely one thing to consider.
• For each property that is listed on the MLS, there are generally thousands of agents and investor/agents looking at the property
• It's not uncommon in this seller's market to see multiple full price (or greater) offers on a single property
• Properties listed on the MLS are much more likely to be "pretty houses" that will fetch higher prices.
• You must be a Realtor to submit an offer

Off Market Deals

Off market deals are everything else that's not on the MLS. There are a lot of places to look and many ways to find these deals.

The Pros of Off Market Deals

It has always been my experience that there is much less competition for these properties. You can also find much better deals especially when it comes to distressed properties.

Real estate investors that take time to learn how to market to these motivated sellers have a huge advantage over their so-called "competition" who are waiting for a deal to come along on the MLS. We have the opportunity to scoop up these deals before they ever have a chance to be listed.

What About the Cons of Off Market Deals?

This is a big one for some people: You have to learn to talk to sellers.

It makes some investors completely ignore off market deals which is one of the best sources of leads I have found. Here are some of the things you'll need to be able to do when working directly with sellers. Understand that these are not necessarily skills you have today, but ones you can definitely learn.

When dealing directly with sellers you will need to:

• Build rapport with these folks so that you are able to have productive conversations with them
• Discover their real motivation for selling
• Negotiate with sellers
• Make offers
• Follow up with them often for a long period of time, and often after they have initially said "no" to your offer
• Get good at changing their expectations when it comes to what they want or expects to get for their property

Since these deals are not on a single platform like the MLS, you often need multiple strategies for finding and marketing to these folks. Some of these leads can be found online, but others require a little more work which ultimately makes them much more valuable.

Which One Should You Choose? Off Market Deals or the MLS?

The honest answer is, that depends. Many investors choose both, while others like me choose to focus only on off market deals. One thing you need to learn to do other than talking to sellers is marketing if you want to work with off market deals. What do you get in return when you do?

More profit! There is almost always more profit in off market deals.

What's in It for Sellers?

I am asked this question all the time. Why would a seller prefer to work with an investor when they are almost certainly going to get less money for the property? Here are just a few ways they choose which route to go; off market or the MLS.

• Sellers can control the timeline. They may need a longer closing time or extra time to move.
• They often have expenses they can't pay like back taxes, so they are willing to settle for less cash just for convenience.
• These folks just don't want to deal with listing the house. They don't want to have people coming in and out of their house.
• Skipping all the preparation to get their property ready to sell on the MLS is very attractive to busy people.
• They want to be discreet about the sale of their property. This may be due to a divorce, financial problems, impending foreclosure, or even probate.

Is There a Downside for Sellers?

There can be. The downside for sellers is that there will be fewer buyers and they will probably get a lower offer for the property.

Final Thoughts….

There is no right answer when it comes to whether to focus on off market deals or the MLS (or a combination of both). Choose what works best for your business. Which do you prefer?

Get Your Freebie

If you aren't sure where to start when it comes to finding deals, be sure to grab your FREE copy of "25 Ways to Find Motivated Seller Leads".

Be sure to stop by the Louisville Gal's Real Estate Blog and pick up your freebies!

Today you're going to learn how to buy investment property without ever going to a bank through the use of creative financing. My guest Brad Smotherman is an expert on that topic.

One of the things that most concerns real estate investors now is how our ability to finance property through traditional lending institutions will be affected by COVID-19 over the next 12 to 24 months or possibly even longer. The question is, "Will I be able to borrow money to buy property? "Let me ask you this. What if you never had to rely on banks again to buy property?

Brad owns and manages a seven figure flipping business. He's invested in over 15 States, has houses from Michigan to Georgia, and has completed over 400 transactions today. He's also the host of the top 100 business podcast, investor creator, where he teaches new and seasoned investors, how to take their house flipping business to multiple or six or seven figures without sacrificing freedom. And that's what I want to hear about.

Show Notes

• How Brad got started at 17 years old by getting his real estate license and worked while he went to college
• Years later, it only took him just over a month to figure out he didn't want to an accountant
• The path to figuring out he wasn't good at fix and flip, and he really didn't want to wholesale
• Buying property "subject to" then selling it with owner financing (no banks needed)
• What his first deal looked like and how much cash he put in his pocket along with years of passive income from that first deal
• The impact the real estate market crash had on his business in 2008
• How he has managed to never go to a bank for money
• Why this strategy will work for anyone in any market
• How you navigate difficult markets like we are in today
• Why it's still a good time to start a real estate investing business
• Looking back, what he wishes he had done differently
• Final advice for investors just getting started.

Be sure to stop by the Louisville Gal's Real Estate Blog and pick up your freebies!

Today's show is on how to scale your business using the cash flow quadrant. You're probably going to realize immediately that as a self-employed real estate professional what you really have is a very demanding job.

But, isn't that what we were trying to escape? We were most likely looking for freedom.

Understanding the cash flow quadrant will show you how to scale your business so that you become a true business owner. What does that mean for you? It means that you can take a month off (or longer) and your business will continue to make money in your absence. You essentially get to fire yourself from the day to day operations.

Understanding this process will help you go from employee or self-employed to being a true business owner and the visionary of your business.

My guest today is Joe Mendoza. Joe is from sunny San Diego. He's an investor, a real estate broker, and he is a coach that has mentored and trained hundreds of people. He also knows how to use the cash flow quadrant to build and scale any business.

Show Notes

Here are some of the highlights of this show:

• Getting started at 17 years old; quickly realizing investing was more profitable than being a Realtor
• How the book Rich Dad Poor Dad played a huge part in his transformation and ultimately shifted how he thought about business
• The power of understanding the cash flow quadrant to scale your business
• The "SWOT" Formula, (Strengths, Weaknesses, Opportunities, Threats) and how to use this formula to your advantage
• Putting the SWOT formula into practice today
• The secret to scaling your business; outsourcing and building teams
• Building teams; the good, bad and the ugly and why you must get rid of bad team members quickly
• Creating systems so your business runs without you
• Joe's biggest tip for succeeding in today's market

This is a power-packed show that has actionable tips you can put into practice today!

Quote: Where there's adversity, there's opportunity – Joe Mendoza

Books Mentioned in This Show

• Rich Dad Poor Dad by Robert Kiyosaki
• Think and Grow Rich by Napoleon Hill
• The 10X Rule by Grant Cardone
• Shift by Gary Keller

Want More on the topic of How to Scale Your Business?

Here's another show for you to check out.

Entrepreneurs… Is Your Employee Mindset Holding You Back?

Be sure to stop by the Louisville Gal's Real Estate Blog and pick up your freebies!

If someone told you that they were going to do 4 flips in 7 days without sacrificing quality and while staying on a budget what would your reaction be?

My guest today is a family man and Utah investor, Tyler Jensen. Tyler started flipping houses more than 10 years ago when he was in college to help pay for his college expenses. Tyler just completed 4 flips in 7 days while making it a competition between his 2 teams of rehabbers. He also recorded the whole process as a YouTube TV show.

Show Notes

This is a great show, and you're going to learn some ninja organizational tips in the process that apply not only to rehabbing houses but running your real estate investing business. Here's a sample of what we talked about in this show:

• How a college student decides to rehab houses to pay for college
• Why single-family houses?
• Marketing: how Tyler finds his deals (it's probably not what you think)
• Doing 4 flips in 7 days; how he pulled that off
• Who came up with this idea?
• How the challenge between the two rehab teams affected the project
• The key things rehabbers of any level need to know to do a successful, profitable flip
• Knowing your numbers
• Why mentors are critical for growing a money-making business

Final Thoughts

I had a great time doing this show, so I know you're going to love it.

Be sure to check out Tyler's latest project, 7- Day Flip on YouTube. I've been following along as the episodes are released, and it's been so much fun watching these projects. You will find the link below.

Here's the link to the YouTube Show: Just Click Here

You can also reach out to Tyler on Facebook at these links:

• Utah House Flip
• Tyler Jensen

Want to learn more about "Flip Hacking Live"? Just Click Here

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Did you ever hear the term, "money multiplier"?

My guest today is Chris Naugle. Chris is on a mission to teach people how money works and to show them some of the secrets of the wealthy. Today we are going to talk about the money multiplier, and how to use that to grow your wealth. If you want to learn one of the secrets of the wealthy, then this show is for you.

Show Notes

The money multiplier concept that Chris shares in this show will be completely new to a lot of people. Here is some of what this show is about:

• How Chris got started in this business (real estate investing was never his plan)
• Why money problems start in childhood for most people
• Defining financial intelligence
• Some of the biggest mistakes people make when it comes to money
• What is the money multiplier?
• Baby boomers and the transfer of wealth happening now
• Erasing debt
• Infinite banking
• What is Money School?

How to Get Chris' Books Free

You can get a copy of these books by clicking on the links below.

• The Private Money Guide
• Mapping out the Millionaire Mystery

Be sure to stop by the Louisville Gal's Real Estate Blog and pick up your freebies!

Mike Simmons is quick to say that starting a company is easy. However, growing a company that is profitable and building a team that cares about the success or failure of that company is not so easy. So, here's the big question; how do you go from struggling investor to 1 million in profits in 12 months?

And more importantly, how do you build a team and a culture that will allow you to grow faster than you ever thought was possible? Today you'll discover why mentors and masterminds are the secret sauce to making this happen.

Show Notes

Here is a sample of what we covered in this information packed show:

• How Mike got started
• That "knowing" that you are meant for something more; that you are somehow misplaced in your current job or career
• Getting past the fear of giving up the steady paycheck
• The reason this former rehabber changed strategies and started wholesaling
• Why his experience as a rehabber made the transition to wholesaling so much easier
• Mistakes made along the way
• Making the decision to hire before you think you're ready
• Why entrepreneurs aren't always good at hiring people and the common mistakes they make that costs them time, money, and employee retention
• Building a culture that allows your team to thrive
• Making deposits in your relationship bank before you find yourself overdrawn when you make mistakes with your team
• When it comes to real estate, what is level jumping and exactly how do you do it?
• From struggling investor to over 1 million in profits in 12 months
• Why masterminds and mentors are the secrets to growing your business faster
• Why you need to stop reinventing the wheel each time you get a property under contract and create systems for everything you do in your business
• What position should you hire for first?

Be sure to stop by the Louisville Gal's Real Estate Blog and pick up your freebies!