This week's episode Kier and Bill are going back to basics to explain some real estate terms for the listeners to help them better understand the key terms you should know as a real estate investor.  This is the first episode of a series called "Back to Basics". In the inaugural episode of this series, we touch on some basic types of homes for a rookie investor, Debt-to-Income (DTI), Cash Out Refinancing, HELOC's, House Hacking, BRRRR's, Return on Investment (ROI), Cash-on-Cash Return (CoC), and different mortgage offerings, including FHA and Conventional. This is a must-listen, must-watch take notes episode! 

FHA Requirements

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In a Like Minded Investors first, we have not one, but TWO previous guests returning to tell a story of their friendship and how it helped save a deal. Travis (Episode #12) purchased a multi-family property and had contractor issues. Travis had a relationship with Steve (Episode #11) and reached out to Steve to help save the deal. You don't want to miss this episode! It paints a unique picture of connections and the dynamic between investor and contractor.

Don't forget to give our guests a follow on their social media!

Travis Hill is an active duty Marine stationed in California. His investing journey started 20 years ago while living in Las Vegas. After joining the Marine Corps, the Great Recession eliminated his portfolio. He started investing again in 2018, with the intent of retiring from the Marine Corps not having a W-2 job. His goal is to become financially free from cash flowing RE. He looks to acquire cash flowing properties in both the residential and commercial space. He enjoys connecting others and sharing his knowledge with those looking to start their investing journey.

Steve is a 46 year old who has been been investing “this time” for about 5 years. His investing style is long-term buy and hold rentals, focusing on both multi-families and single family homes. Steve also owns a contracting company, Done Right Home Solutions. Steve is a big believer that the world revolves around the 3 C's - Communication, Contacts, and Confidence.

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Travis Hill is an active duty Marine stationed in California. His investing journey started 20 years ago while living in Las Vegas. After joining the Marine Corps, the Great Recession eliminated his portfolio. He started investing again in 2018, with the intent of retiring from the Marine Corps not having a W-2 job. His goal is to become financially free from cash flowing RE. He looks to acquire cash flowing properties in both the residential and commercial space. He enjoys connecting others and sharing his knowledge with those looking to start their investing journey.

In today's episode, we talk with Travis about his experiences during the Great Recession in 2008 that led to him having to short sell his portfolio and how he recovered and bounced back through syndications and smaller rental properties. Travis describes the differences between active and passive investing, how to find a syndication and work with them and even touches on residential assisted living units as the "silver tsunami" of baby boomers hitting that age is starting to occur.

Don't forget to give Travis a follow on Instagram (@travishill1310).

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Follow Kier and Bill on Instagram: @realestate.kier and @billyinvestsphilly

Steve is a 46 year old who has been been investing “this time” for about 5 years. His investing style is long-term buy and hold rentals, focusing on both multi-families and single family homes. Steve also owns a contracting company, Done Right Home Solutions. Steve is a big believer that the world revolves around the 3 C's - Communication, Contacts, and Confidence.

In today's episode, we dive deep with Steve into goal setting, physical and mental health helping investing, and get into some deals Steve has done. You can hear about his 5-50-50 goal, a funny Home Depot story, and how Steve bought a house in Cleveland for $10,000 and received a letter and gift  card from the seller as a huge thank you! Steve is a wealth of knowledge and you don't want to miss out! 

Don't forget to give Steve a follow on Instagram (@done_right_home_solutions) or Facebook

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Follow Kier and Bill on Instagram: @realestate.kier and @billyinvestsphilly

This week's guest is Soli (@lattes.and.leases) and she is here to talk out of state investing, partnerships, and private money! 

Soli is a 23 year old out of state investor living in the Bay Area and investing in Cincinnati, OH. In the last year and a half, she's acquired 23 units, comprised of single family, multifamily, buy & holds, and fix & flips. Her portfolio has grown exponentially through the use of partnerships and private money. She is currently working on systems and processes to continue to scale her portfolio. Her 2022 goal is to flip 1 house/month and reach a total buy & hold unit count of 50. She aims to get to $20k/month of passive income through real estate in the next 3 years.

This episode gives a great lens into how to exponentially grow your portfolio and scale by not doing it alone. Soli dives into who she has on her team, how she found her market, her partner, and her private lenders! We also touch on mindset yet again! 

Don't forget to give Soli a follow on IG or check out her website: http://lattesandleases.com/

Soli's Private Money Presentation Template

 Books Mentioned: 

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This week's guest is Zasha Smith (@investwithzasha) and she is here from the beautiful island of Maui to discuss real estate! 

Zasha is a buy and hold investor who also flips homes and like Chris from episode 8, has quit her full-time job to pursue financial independence fully in real estate! 

This episode touches on many facets of investing in real estate including - Affordable Housing/Section 8, gap lending, and going door-to-door for deals. Zasha even explains how some of her rehabs can cost $200,000!

Don't forget to follow Zasha on Instagram for her #MorningRoutineForSuccess and hilarious, creative, and helpful Reels! 

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Follow Kier and Bill on Instagram: @realestate.kier and @billydoesphilly

 This week's guest is Chris Brecheen (@cmbrecheen) and he is here to discuss his journey as a real estate investor. Chris has been in real estate for only 1 year and has accomplished so much already! 

Chris discusses wholesaling properties and his large goals for the remainder of the year and heading into next year. Chris went from working 100 hours a week in his corporate job to doing real estate full-time! 

We get down into the details of marketing campaigns, especially direct mail marketing and Chris even lays out what his postcards or letters typically say! He talks about getting on the phone, understanding why someone wants to sell their home, and expectations for success rates with mailers. This is an episode you're going to want to break out the pen and paper for! 

We gave Chris some homework and hope to chat with him again in January to check his progress! 

Chris's Website: https://sellto8pt.com

Book: Miracle Morning by Hal Elrod

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 This week's guest is Sarah King (@nerdsguidetofi) here to discuss her journey as a real estate investor. Sarah's story is remarkable and she discusses how she acquired 5 properties with her now ex-husband, sold them off, and has hit the reset button in life and as a real estate entrepreneur and investor.

In the FIRE community, Sarah found that there weren't many blogs or discussions around divorce despite it being a fairly common occurrence and a life-altering event with large financial and time commitments for a period and wanted to put her journey out there for folks.

We discuss how becoming a Dave Ramsey disciple can be boring, partnerships, how a "small but mighty" portfolio can be enough, and even discussed some heavier topics regarding divorce, gaslighting, and narcissism. 

Sarah's Website: https://www.nerdsguidetofi.com/

Sarah's Podcast: https://anchor.fm/nerdsguidetofi/support

Given some of the heavier topics in the episode, we thought it would be a great idea to not only link some of the Instagram accounts and books Sarah recommended, but also put the definitions of gaslighting and narcissistic personality disorder below.

Resources

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Co-Hosts Kier Vogt and Bill McKee take time this week to help new investors overcome the 5 major fears they may have to start investing. They explain how they have overcome those fears or are still working through them. The 5 fears are: 

There are also some amazing tips and tricks to help you. Kier gives some really great tips on identifying an old roof! 

Section 8 Rental Numbers

Questions for the Audience:  

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Co-Host Kier Vogt takes her turn in the hot seat sitting down with Bill to discuss her journey as a real estate investor. Kier and Bill discuss her journey from her first corporate job in the industry, to flips, BRRRRs, and House Hacks.

They also discuss Kier refinancing a property 3 times and how it was used to purchase two additional properties. Kier also describes Variable Rate loans, mindset shifts, and starting Like Minded Investors!

Kier's Blog: www.thestonehead.com

Kier's Mindset Coach: Karil Stohlman

Auction Sites

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Follow Kier and Bill on Instagram: @realestate.kier and @billydoesphilly