Highlights From The Show:
Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Live Question and Answer sessions. For those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more!
 
This presentation is the live Q&A; that I did the week of November 9th and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!



Notable Quotes:
“The opportunities are just off the charts on what we can accomplish in this market.”
 
“I didn’t know what I didn’t know.”
 
“I think we are going to look back at this time 10 years from now and think we missed some opportunities just because we were scared of the market changes.”
 
“The targets and numbers you use to calculate profit for a flip are probably going to stay the same even when you have some experience.”
 
“Your profit margin isn’t always a representation of what will make you happy, but also a built-in margin of error.”
 
“Build in at least a $20k profit margin on the first $100k so that you have some wiggle room if you run into issues with the rehab.”
 
“You don’t want to be on a high wire without a safety net.”
 
“Shoot for a profit margin of at least 15% on the retail price.”
 
“You want to look at what house prices have done in your market since May, since that is really when the market started to decline.”
 
“We don’t put inspection contingencies in our contracts. What we have are funding contingencies.”




Thank You for Listening!

Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

 
Help Out the Show:

Leave an honest review on iTunes. Your ratings and reviews really help and I read each one.
Subscribe on iTunes.

 
More Resources From Mike:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
WINNING DIRECT MAIL - How to CRUSH IT with direct mail!
7 Figure Investor Video Course - Scale your business to 7 figures. I'll show you how!


Live Q&A - Best Marketing ROI, Determining ARV in Declining Market, and Contract Contingencies

Exciting interviews with top entrepreneurs. I get to the bottom of their business to discover the secret to how they became successful.  Every episode is full of actionable advice and tips that you can use in your business to immediately help you further your success in real estate.

Business

Investing

Careers

Management & Marketing

Business News

Shopping

Entrepreneurship

Today's Guest: Paul Wakim
Paul is the co-founder of TwnSqr, a real estate technology startup devoted to breaking down the barriers of the real estate industry by providing homeowners and real estate professionals full control over the connections they make for their next real estate transaction. Paul started TwnSqr as a project to create an algorithm to predict who was going to sell their house next so he could buy more deals. Today, TwnSqr has reimagined how the real estate process works for buyers, sellers, agents, and investors, and it’s the most secure and fastest way to connect with the best person for your next real estate transaction on your own terms.
 
Highlights From The Show:
We begin the episode with Paul sharing the evolution of TwnSqr since its inception right before COVID and how it currently works. Paul details how it has changed from being a real estate tool to a service that is one aspect of a real estate investor’s process. 
 
Paul detailed a new program that they just launched called TwnSqr Enterprise that caters to investors that have a significant amount of properties to sell to form a direct integration with their Boost service, or their dispositions marketing service. Paul also gives a ton of credit to his partner Mitch that does most of the coding, and who he says is brilliant. Some customizations occur for each individual client, so Paul details this process.
 
I asked Paul to describe their avatar, or ideal client, and also to describe how the pricing works for their service. It is a monthly subscription service, but Paul goes into detail on how it actually works. He also goes into the integration of AI into their services.
 
This was a super detailed interview where I asked a lot of nitty-gritty kinds of questions so you want don’t miss another amazing episode of the Just Start Real Estate Podcast with Paul Wakim and get valuable information on how to unlock the potential of your dispositions process with TwnSqr!



Notable Quotes:
 
“All TwnSqr is as of August 7th is a way for you to interface your existing systems and processes, your CRM, with our Boost service. There is no more seller-facing aspect to the platform.”

Paul Wakim

 
“We have simplified things quite a bit to just being a plug-in for your CRM with the sole purpose of getting you interest in the properties that you have for sale.”

Paul Wakim

 
“Any investor that has at least two properties to sell per month is our target market.”

Paul Wakim

 
“You are using the existing client’s buyers list in addition to going out and getting more people to opt into TwnSqr to maximize who is seeing the properties - more eyeballs.”

Mike Simmons

 
“Tell me why I would want to utilize your done-for-you service when I already have a fully operational, successful, talented dispositions team and/or person and/or process. Like why would I hand over the reins to something that is working really well?”

Mike Simmons

 
“We found out not only was that sales pitch incorrect but also the execution was incorrect.”

Paul Wakim

 
“It is worth combining your existing systems and processes with our boosting system because it is a supplement - it is like a turbocharger for an engine.”

Paul Wakim

 
“Once the integration is built, we are off to the races together.”

Paul Wakim

 
“Simplicity is where the actual value is.”

Paul Wakim

 
“Simple is scalable.”

Mike Simmons

 
“TwnSqr today is as bad as it is ever going to get. It is only going to get better.”

Paul Wakim




Thank You for Listening!

Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

 
Help Out the Show:

Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one.
Subscribe on iTunes.

 
Resources and Links From Today's Show:
Mike’s Email
TwnSqr
Paul Email 
Paul on LinkedIn
Paul on Instagram
Paul on Twitter 
Paul on Youtube
 
More Resources From Mike:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
WINNING DIRECT MAIL - How to CRUSH IT with direct mail!




Done For You Dispositions with Paul Wakim, Founder of TwnSqr

Today's Guest: Erin Helle
In this episode, I interview fellow real estate investor and return guest, Erin Helle. Erin begins by giving us her background and what brought her to real estate investing. She began her career in the military, first attending West Point Academy and then serving on active duty. Because her husband was also in the service, they knew that both of them being on active duty would be short-lived as they planned to start a family. She resigned her commission after about eight years of active duty and she began to explore real estate as a way to earn an income and be present for her family.
 
Highlights From The Show:
We go back over Erin’s story because it is so inspirational! Her business has just exploded since we last talked on the podcast in 2020. We discuss all of the different types of investing she is involved in and the various markets, as well. She related that she has invested in short-term rentals, but doesn’t like it as an investment model because it isn’t passive at all. 
 
We then talk about the event that Erin is hosting called Financial Freedom Summit. It is being held at the Wynn Las Vegas on September 2nd & 3rd, 2023. It is an exclusive event to inspire personal, professional, and financial development. Military veteran leaders in the real estate investing industry will guide the participants to build their blueprint for total financial freedom. But Erin wanted me to understand that it was the community of veterans that gave her the courage to get started in real estate investing, which is why she decided to give back to veterans through her summit. Erin went over the different topics, speakers, and breakout sessions that will happen throughout the weekend. Erin also detailed how some of the sponsors backing the event are providing scholarships to the event for service members that may not otherwise be able to afford to attend.
 
Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Erin Helle and learn about everything she has been up to since the last time she was on the show!



Notable Quotes:
 
“This is a great industry and there is a lot of opportunity, but it isn’t necessarily for everyone.”

Mike Simmons

 
“I hate the short-term rental game. I hate everything about it.”

Erin Helle

 
“We use any cash we can come up with to build our portfolio.”

Erin Helle

 
“I am a very left-brain, logical decision-maker.”

Erin Helle

 
“I don’t really have the personality to talk to STR guests.”

Mike Simmons

 
“It was the network of other West Point grads, and other veterans, in the space that helped me get my start and help me take that first step and then scale.”

Erin Helle

 
“There is a lot of value in networking events.”

Mike Simmons

 
“I have been amazed at the generosity of the people speaking and putting on this event.”

Erin Helle

 
“The value of being in a room with these investors is like an education on steroids.”

Mike Simmons

 
 
Thank You for Listening!

Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

 
Help Out the Show:

Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one.
Subscribe on iTunes.

 
Resources and Links From Today's Show:
Previous Episode with Erin
Financial Freedom Summit
Erin’s Website
Erin on Facebook
Erin on Instagram
Erin on YouTube



More Resources From Mike:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
WINNING DIRECT MAIL - How to CRUSH IT with direct mail!





From Military Mom to Full-Time Real Estate Investor Helping Other Military Members Build Wealth with Erin Helle

Today's Guest: Chris Logan
I am excited to have my friend and fellow investor, Chris, on the show today! He is a super smart investor that is passionate about teaching people how to invest outside of their home market.
 
Highlights From The Show:
We start the interview as we always do by getting some of Chris’ background and how he got started in real estate investing. He was introduced to real estate (like so many others) by reading Rich Dad Poor Dad and then signed up for an investing course with his wife, Heather. They began their business by wholesaling properties and Chris said during that time they tried fix and flipping, but that strategy did not appeal to them. They built their wholesaling business into a 7 figure business and wanted to focus on the one thing that they were really good at.
 
We then discuss wholesaling in markets other than where one lives, which is what Chris primarily does. He said when he is picking a new market, he looks at the population and median home prices. I asked him what specifically he is looking at regarding the population and he said they look for a population between 250,000 and 500,000 people because you know that many houses will be bought and sold and also that it is an area that people want to be in. Chris also recommends using the power of local Facebook groups to build your buyers list and network.
 
Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Chris Logan to learn the ins and outs of virtual wholesaling!
 
Notable Quotes:
“You are just going to drop value, I know it.”

Mike Simmons

 
“Rich Dad Poor Dad is like the gateway drug for real estate investing.”

Mike Simmons

 
“Flipping is more of a construction business and wholesaling is a sales and marketing business.”

Chris Logan

 
“I am not the biggest fan of flipping, either. I get burned out with the contractor situation.”

Mike Simmons

 
“It is not like you take a wholesaling course and then money starts falling from the sky.”

Chris Logan

 
“We don’t start investing in a market because we want to be there - we follow the money.”

Chris Logan

 
“I like starting in an area where I have a runway to scale.”

Chris Logan

 
“I think you should build your buyers list before you market for sellers, especially if you are a brand new investor.”

Chris Logan

 
“Massive and perfect action is what you want to focus on.”

Chris Logan

 
“Our mentality is ‘keep it small, keep it all.’”

Chris Logan

 
“Let’s do deals together!”

Chris Logan

 
“Massive action is the cure for most things.”

Mike Simmons

 
Thank You for Listening!

Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

 
Help Out the Show:

Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one.
Subscribe on iTunes.

 
Resources and Links From Today's Show:
Rich Dad Poor Dad
The ONE Thing
Mailchimp
Aweber
PropStream
Chris on Facebook
Virtual Wholesaling Made Simple
Mike on Facebook
 
More Resources From Mike:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
WINNING DIRECT MAIL - How to CRUSH IT with direct mail!




Virtual Wholesaling Made Simple with Chris Logan

Today's Guests: James Svetec & Riley Oickle
One of the world's foremost Airbnb experts and the co-author of Airbnb for Dummies, James has helped over 1,000 students all over the globe leverage the power of short-term rentals as a vehicle for cash flow and wealth. James is the industry's go-to expert when it comes to mastering performance and streamlining operations. He consults with more than 600 property management companies around the world.
Riley is a Canadian real estate investor and mentor who specializes in multi-family residential investing through BRRRR and joint venture strategies. Throughout the journey of buying his first income property in the Southwestern Ontario area, he realized that there is a real need in the market to help people go through this process more easily. Today, he owns a real estate portfolio worth over $8 million and has helped new investors buy their first properties without wasting time and money on trial and error.



Highlights From The Show:
This is a continuation of the show we posted a couple of weeks ago, discussing the ins and outs of short-term rental investing. We talk about financing, management, software, the science behind listings, and so much more! Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with James Svetec and Riley Oickle and learn more about how to build a wildly successful short-term rental company!



Notable Quotes:
“Typically, management costs 20% of your revenue.”

Riley Oickle

 
“We find that if you have a short-term rental property 1-2 hours outside of a major urban area, it is a great opportunity for people to staycation.”

Riley Oickle

 
“I would love to have the company motto: I don’t do anything personally, but my company handles everything in-house.”

Mike Simmons

 
“Almost all issues will come from one-night stays.”

James Svetec

 
“The check-in process is really important because it is your guest’s first impression of your property, so you want it to be very easy.”

James Svetec

 
“I am the baby boomer of the group.”

Riley Oickle

 
“We recommend that people price their STRs manually at the beginning.”

James Svetec

 
 
Thank You for Listening!

Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

 
Help Out the Show:

Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one.
Subscribe on iTunes.

 
Resources and Links From Today's Show:
Minut Noise Monitoring
NoiseAware
Nest
August Lock
Hostaway
Hostfully
PriceLabs
AirDNA
AllTheRooms
Mashvisor
Motel Makeovers
BNB Inner Circle
James on Instagram
Riley on Instagram
 
More Resources From Mike:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
WINNING DIRECT MAIL - How to CRUSH IT with direct mail!


How to Build a Wildly Successful Short-Term Rental Company PART TWO

Today's Guests: James Svetec & Riley Oickle
One of the world's foremost Airbnb experts and the co-author of Airbnb for Dummies, James has helped over 1,000 students all over the globe leverage the power of short-term rentals as a vehicle for cash flow and wealth. James is the industry's go-to expert when it comes to mastering performance and streamlining operations. He consults with more than 600 property management companies around the world.
Riley is a Canadian real estate investor and mentor who specializes in multi-family residential investing through BRRRR and joint venture strategies. Throughout the journey of buying his first income property in the Southwestern Ontario area, he realized that there is a real need in the market to help people go through this process more easily. Today, he owns a real estate portfolio worth over $8 million and has helped new investors buy their first properties without wasting time and money on trial and error.



Highlights From The Show:
We start, as we always do, with my guests providing us with a bit of their background and how they got into real estate investing. Riley originally went the multi-family investing route and James was managing short-term rentals for other owners. They met through a mutual contractor, realized they had complementary skills, and decided to begin investing in short-term rentals together. Additionally, they do short-term rental coaching.
 
I observed that the short-term rental industry existed before COVID but that it had exploded because of peoples’ need for a safer environment than a hotel when traveling. I asked the guys several questions pertaining to this so that we could dig into the state of the short-term rental industry in 2023. James pointed out another factor to this was that more people were staycation-ing because they didn’t want to get on airplanes to travel. Many of the STRs in rural areas within easy driving distance of large cities experienced a boom as well. He said overall the industry is still trending up from pre-COVID numbers, but it has slowed down somewhat as the pandemic fears have decreased.
 
We talk about market and property evaluation, market area regulations, resources for aggregating data, common mistakes, various portfolio-building ideas, and so much more! Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with James Svetec and Riley Oickle and learn how to build a wildly successful short-term rental company!



Notable Quotes:
“So they were like dog years basically.”

Mike Simmons

 
“Complete immersion in investing is different than dabbling on and off as a hobby for 10 years.”

Mike Simmons

 
“I was totally immersed in the short-term rental and Airbnb space, but I had never bought and owned my own property.”

James Svetec

 
“We each had those complementary skill sets.”

James Svetec

 
“There is the bird’s eye view which is market analysis and then the more micro level which is property analysis. If someone has investing experience, they would be familiar with both.”

Riley Oickle

 
“We not only look at what the regulations are in a particular area but where we suspect they might go in the future.”

James Svetec

 
“Those properties are very expensive because the area is very prestigious.”

James Svetec

 
“I wouldn’t say that an area having no regulations is a red flag, but it is a yellow flag, for sure.”

James Svetec

 
“It is boring, but you need to read the actual regulation, not an article in the local paper outlining what they think the regulations are.”

James Svetec

 
“The AirDNA data is really solid if you know how to use it.”

James Svetec

 
“I call it paper napkin math.”

Riley Oickle

 
“Beginning investors often evaluate properties based on emotion and that just doesn’t work. You need to be very analytical.”

Riley Oickle

 
“There is no way around it - if you want to do something right the first time and save money and time, you get a coach, you find a mentor, a mastermind.”

Mike Simmons

 
“I am just geeking out on all of the stuff you talked about.”

Mike Simmons

 
Thank You for Listening!

Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

 
Help Out the Show:

Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one.
Subscribe on iTunes.

 
Resources and Links From Today's Show:
AirDNA
AllTheRooms
Mashvisor
Motel Makeovers
BNB Inner Circle
James on Instagram
Riley on Instagram
 
More Resources From Mike:

Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
WINNING DIRECT MAIL - How to CRUSH IT with direct mail!


Live Q&A - Best Marketing ROI, Determining ARV in Declining Market, and Contract Contingencies

Download our free app to listen on your phone