Mario Dattilo Show

Contact Yonah by going to YonahWeiss.com

In this episode, we're excited to welcome back Chris Prefontaine, a seasoned real estate expert. Chris delves deep into the intricacies of creative financing, a strategy becoming increasingly crucial in today's challenging commercial real estate market. He shares his insights on why focusing on "free and clear" properties—those without existing loans—can be a strategic advantage. This episode is a great follow-up to his first appearance, providing further valuable knowledge for listeners interested in innovative real estate strategies.

Chris Prefontaine is the four-time best-selling author of Real Estate on Your Terms, The New Rules of Real Estate Investing, and Sell With Authority for Real Estate Investors. He’s also founder of the Wicked Smart companies and host of the Smart Real Estate Coach Podcast.

During our conversation, Chris explains the why of "principal only" payments as opposed to "interest only" payments. Chris also touches on essential considerations when evaluating property value and making sense of proposals to purchase properties.

For those looking to enhance their understanding of the real estate market, this episode is packed with educational insights. Chris discusses how to present compelling offers to sellers and navigate the complexities of the "due on sale" clause. Whether you're a seasoned investor or just starting, Chris's advice is invaluable.  Tune in to learn how to leverage creative financing to your advantage and achieve your real estate goals and get a copy of his book https://wickedsmartbooks.com/mario1 for more detailed guidance on these topics.

Embark on an enlightening discussion with Andres Olaya as we journey into the world of international business, culture, and remote real estate investing. From the vibrant world of Medellin, Colombia, Andreas shares the triumphs and trials of launching a business across borders. Discover the secrets behind adapting to new cultures, assembling a team that thrives on a global stage, and the intricacies of local regulations. 

This episode isn't just about the mechanics of business—it's a mosaic of personal growth, economic advantage, and the art of living well for less in an international setting, all while staying connected to the US markets.

As we peel back the layers of global entrepreneurship, you'll gain an insider's look into the emotional journey of relocation, the contrast in work pace, and the cultural agility required to succeed. 

Stories of luxurious living on a budget mingle with tactical advice on recruiting and retaining top talent in competitive markets. Whether it's discussing the cost-effective perks of international living or unraveling his own investment strategies, this conversation is packed with anecdotes and strategies that will spark ideas for your next venture, wherever it may lead.

Wrapping up, we dive into the nitty-gritty of real estate investment, contrasting novation with traditional wholesaling. 

Learn how his virtual team operates seamlessly across different time zones, relying on effective communication to navigate a market where in-person interactions are a rarity. 

We also delve into maximizing opportunities in real estate, overcoming market challenges, and honing negotiation tactics. 

Beyond the transactions and deals, this episode celebrates the human connections that fuel lasting business relationships. 

Join us for this fascinating discussion that blends the lines between living, investing, and connecting in today's global marketplace.

I recently had an enlightening conversation with Scott Pinkerton, a successful private wealth firm and asset management company owner, on my podcast. We delved into the world of investing, and I'm excited to share some key takeaways with you.

1. The Investor's Mindset: In the current unpredictable market, Scott emphasized the importance of caution and avoiding the trap of believing we can predict outcomes. He introduced the concept of the "loser lane" and "positive place" in investing, reminding us that we should always be aware of potential negative and positive outcomes.
2. Guardrails in Investing: We discussed the importance of setting guardrails and sticking to metrics when making investment decisions. It's crucial to know when to cut losses and make changes if necessary. Remember, it's okay to say no to a deal, even after investing time and effort into it.
3. Probability vs Consequence: Scott illustrated the importance of considering consequences even when the probability seems low. He advised writing down specific probabilities and defending them to crystallize thinking.
4. Black Swan Events: We touched on the unpredictability of black swan events like 9/11 and the COVID-19 pandemic. Scott warned against dismissing potential risks just because they haven't happened before.
5. Preserving Wealth Across Generations: Scott shared insights on the challenges wealthy families face in preserving their wealth across generations. He emphasized the importance of educating children about money from a young age and instilling a strong work ethic.
6. The Role of the Federal Reserve: Scott explained the role of the Federal Reserve in controlling interest rates and the bond market. He emphasized the complexity of managing the economy and compared it to a doctor treating a growing problem inside a patient.
7. Opportunities in the Market: Despite the challenges, Scott highlighted the opportunities in the market for both investors and groups looking to finance deals. He advised investors to carefully consider factors like rising insurance costs when creating their financial projections.

I hope these insights spark your curiosity and entice you to listen to the full podcast. Remember, it's important to seek professional guidance and be aware of biases and blind spots in decision-making.

I'm thrilled to share with you the highlights of my recent podcast episode with the dynamic Erica Donalds, a former investment banker turned education entrepreneur. Erica's journey from finance to education is nothing short of inspiring, and her insights into the future of education are thought-provoking.

1. From Investment Banking to Education Management: Erica's transition from finance to education was sparked by her run for the school board. This ignited her passion for problem-solving in education, leading her to establish Optima Ed, an education management company that operates schools and manages their back-office operations.
2. The Birth of a Virtual Reality School: Amidst the pandemic, Erica and her team created a high-quality distance learning program that replicated the in-person experience. This led to the birth of a full-time virtual school, which has been a great success. Erica emphasizes the scalability and cost-effectiveness of the virtual platform compared to traditional brick-and-mortar schools.
3. Navigating the Politics of Education: Erica shares her experiences of facing opposition and public comments against her school's application during government meetings. Despite the challenges, Erica and her team persevered and were able to showcase the positive impact their school had on students.
4. The Importance of Classical Education: Erica believes in providing students with a well-rounded education that teaches them to think critically and form their own opinions. She emphasizes the importance of teaching all sides of history, politics, and other subjects so that students can make informed decisions.
5. Nonprofit and For-Profit Business Models in Education: Erica shares her experience of starting a nonprofit organization to raise money for schools and eventually transitioning into a for-profit entity to provide services to those schools.
6. The Future of Education: Erica envisions a future where technology and innovation play a significant role in education, allowing for a dynamic and personalized learning experience. She invites parents and students to explore Optima Academy Online, her virtual school.

I hope you find these insights as fascinating as I did. If you're interested in starting a school or seeking career opportunities in education, I highly recommend reaching out to Optima Ed.

Don't forget to tune into the full podcast episode for a deeper dive into our conversation.

I'm thrilled to share with you some exciting insights from my recent podcast episode with Paul Moore, a seasoned entrepreneur and commercial real estate investor from Wellings Capital. We had an enlightening conversation about his journey, the lessons he's learned, and his unique approach to investing.

1. The Journey from Entrepreneur to Investor: Paul shared his transition from running a staffing firm to becoming a full-time investor. He candidly spoke about his initial misconception of being an investor when he was actually a speculator. His podcast, "How to Lose Money," is a treasure trove of lessons learned from failures and losses.
2. Selling a Business: Paul opened up about the emotional rollercoaster of selling a business. He reminded us that while it may feel like a success, it's essential to remember that money doesn't buy happiness.
3. The Shift to Commercial Real Estate Investing: Paul's journey led him from single-family residential properties to multifamily projects. His book, "The Perfect Investment," is a testament to his experiences and the risks involved in overpaying for properties.
4. The Importance of Focus in Investing: We discussed the significance of investing with people who specialize in a specific area. It's easy to get distracted by shiny objects, but true success lies in developing expertise in one area.
5. Vetting Sponsors: Paul shared his 28-point due diligence checklist for vetting sponsors. It's not just about the numbers; the character and personality of the sponsors are equally important.
6. Considering Downside Risk: We emphasized the need to assess potential losses and analyze debt structure and potential risks. It's crucial to consider unexpected events that can impact investments.
7. Boring Investing: Paul introduced the concept of boring investing, focusing on stability and predictable cash flow. He's even co-writing a book, "Warren Buffett's Rules for Real Estate Investors," exploring this concept further.
8. Advice for New Investors: Paul suggested diversifying risk and shared seven unique paths to getting into commercial real estate. He also emphasized the importance of partnering with experts instead of trying to become one.
9. Staying Focused and Motivated: Paul shared his routine of taking a day off and dedicating an hour every morning to activities like thinking, journaling, meditating, praying, and reading sacred scriptures.

If you're intrigued by these snippets, I invite you to listen to the full podcast episode. You can also reach out to Paul directly through the Wellings Capital website.

I'm thrilled to share with you some insights from my recent podcast episode where I had the pleasure of hosting Beau Beery, a multifamily advisor and a real estate expert. We delved into the world of apartments, brokerage business, and the importance of finding your niche in the real estate industry.

1. The Power of Specialization: Beau's journey from a marketing student to a successful multifamily advisor is a testament to the power of specialization. He emphasized that focusing on a specific asset class, like multifamily properties, can make you an expert in your market, attracting clients who value your specialized knowledge and experience.
2. The Solo Practitioner Advantage: Beau shared his perspective on starting as a solo practitioner in the real estate brokerage business. He believes that joining a successful team can provide valuable experience and knowledge. However, he also highlighted the importance of outsourcing tasks to save time and avoid the need for full-time employees.
3. Buying a Brokerage Business: Beau shared his experience of buying a brokerage during a market downturn and how it worked out well for him. He stressed the importance of reputation when evaluating a brokerage.
4. Understanding Your Niche: Beau specializes in multifamily properties ranging from 10 to 150 units. He believes that understanding your avatar (ideal customer) and focusing on a specific market segment can lead to success.
5. Building Relationships: Beau shared his approach to building relationships with potential clients. He believes in conducting extensive research about potential clients to establish a deeper connection and build long-term business relationships.
6. Current Market Trends: Beau discussed the current state of the real estate market and the factors affecting property values. He believes that while property values may decrease, it won't be as drastic as the 2008 recession.

I hope these insights spark your curiosity and entice you to listen to the full podcast episode. Beau's journey and insights are truly inspiring and enlightening for anyone interested in the multifamily real estate industry.

Welcome to the Mario Dattilo Show Podcast!

In this episode of The Mario Dattilo Show, we introduce "The Apartment Guy," Tim Bratz, who owns over 4,000 apartment units. Tim shares his journey to success, emphasizing that growth often starts slow before skyrocketing like a hockey stick. He discusses the benefits of buying commercial real estate as a team and highlights the changing landscape in the apartment world.

Tim talks about investing in apartments, buying based on cash flow, seller financing, and working with individuals. He shares his insights on market timing versus sound operations in any market and how his approach to buying has evolved over time. Tim also delves into buying vacation rentals and luxury real estate, as well as his education platform, Legacy Academy. To get in touch with Tim Bratz, listen to the end of the episode.

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Tim is the Founder & CEO of Legacy Wealth Holdings. He focuses on vision-casting, marketing, & supporting his team of “A” players. He has built his company on integrity (doing what he said he was going to do), fairness (doing the right thing), & transparency (honesty is always the best policy).

Tim has dedicated his professional life to studying wealth-building & personal finance. Working in real estate, Tim has learned how to create a passive income that allows him to live the lifestyle of his choice. His goal is to educate & empower others to become financially free through entrepreneurship & real estate investments.

https://legacywealthholdings.com/

Find out more about Mario at MarioDattilo.net

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Talking Points:

00:03 Introducing “The Apartment Guy,” Tim Bratz

01:18 How Tim Came To Own Over 4,000 Apartment Units

06:06 Success Starts Slow Until It Goes Up Like A Hockey Stick

12:02 The Benefits of Buying Commercial Real Estate As A Team

16:50 What Is Changing In The Apartment World

22:47 Invest In Mobile Home Parks With Mario At http://GetRealCashflow.com

23:08 Buying On Cahsflow, Seller Financing, and Working With Individuals

26:29 Market Timing vs Sound Operations In Any Market

29:28 How Tim’s Approach To Buying Has Evolved Over Time

35:04 Buying Vacation Rentals & Luxury Real Estate

43:43 Tim’s Education Platform Legacy Academy

51:16 How To Get Ahold of Tim Bratz

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SUBSCRIBE to the Mario Dattilo Show Podcast YouTube Channel:

Mario Dattilo Show Podcast

Check out this podcast website: MarioDattiloShow.com

‌

Links & Mentions From This Episode:

www.LegacyWealthHoldings.com

www.GetRealCashflow.com

Education Platform: Legacy Academy

Mastermind: Legacy Family

Facebook: Tim Bratz

Instagram: @‌TimBratz

Welcome to the Mario Dattilo Show Podcast!

In this episode of The Mario Dattilo Show, we introduce guests Andrew Jarrett and Nic Cooper from Level Up REI. Nic shares his background as a Navy helicopter pilot and his early years in real estate, while Andrew discusses his experience working in a grocery store and discovering real estate through books and fix & flip opportunities. They explain why they chose apartments over single-family homes for scalability and reveal their strategies for sourcing deals and choosing between self-management and third-party management. The duo also discuss targeting landlord-friendly states, finding the right business partner, the advantages of syndication, and what properties to look for. They delve into fee structures, mobile home park investing, operations, asset management, and acquisitions, emphasizing the importance of focusing on regular actions that lead to key performance indicators. The conversation covers communication with third-party management, acquisition methodology, deal flow changes due to interest rates, and tips for getting brokers' attention. Finally, Andrew and Nic discuss raising capital, building relationships, vetting investors, and offer their last thoughts on entering the multifamily space. 

Andrew Jarrett is a native of Western New York, where he was part of numerous profitable redevelopment opportunities on single family homes. He founded a property management company which managed single family and multifamily units. He sold the company and shifted his focus to the acquisition of smaller multifamily and single family investment properties in Western New York. Andrew currently holds several hundred rental units in this market with in-place management and maintenance teams. Andrew is also a #1 Bestselling author and the host of “The Passive Road to Retirement” podcast. He scaled his investments to the acquisition of large Multifamily apartment complexes. In the past two years he has gone “full cycle” on several hundred units, located in Florida and Georgia.
 
Nic Cooper saw the power of cash-flowing assets with his single-family rentals but was ready to scale. He sold his remaining single-family rentals in San Diego and got his wife, Jamie on board to reinvest in real-estate on a larger scale. Together they purchased a 24 unit apartment complex in Ohio to create passive income.  In the first year they optimized systems and as a result, more than doubled the properties value!  They saw first-hand the power of multifamily real-estate investing as an opportunity to create passive income and build wealth for their family.  Nic brings a pilot’s precision and analytical mind to multifamily real estate with over 22 years as a military helicopter pilot. At present Nic owns 172 units in TX, AL, OH and VA with $11.3MM assets under management.

https://www.jarrettcapital.com
https://www.hudsonbluemf.com
Find out more about Mario at MarioDattilo.net‌

Talking Points:

00:03 Introducing Andrew Jarrett, Nic Cooper, and Level Up REI

00:52 How Andrew and Nic Got Started With Apartments

01:06 Nic Shares His Origins As Navy Helicopter Pilot and Early Years In Real Estate

04:08 Andrew Shares His Early Years In A Grocery Store, Discovering Real Estate Authors, and Fix & Flips Opportunities

05:37 Choosing Apartments Over Single Family Because of Scaleability

07:07 How Andrew and Nic Source Deals

08:05 The Important Differences Between Self-Management Vs Third-Party Management

10:32 Looking For Landlord-Friendly States, Population Migration, and Median Income Levels

11:31 Finding The Right Business Partner With Complementary Skills

13:53 The Advantages of Syndication Vs Self-Funding

16:03 What Target Properties To Look Out For

18:25 How The Fee Structure Differs Depending On The Deal

20:53 Explori

Welcome to the Mario Dattilo Show Podcast!

In this episode of The Mario Dattilo Show podcast, Mario interviews Jimmy Johnson, founder of Sanddollar Communities. They discuss Jimmy's journey in mobile home parks, why it took him a year before making a deal, the connection between mobile home parks and self-storage, changes in real estate through the years, and the difference between wholesaling single-family homes and commercial real estate. They also touch on the benefits of starting young in your real estate career, taking risks to meet people face-to-face, advice for going from employee to commercial real estate owner, developing good relationships with sellers, and Jimmy's love for fishing tournaments. Finally, they talk about the importance of patience in skill development and how to contact Jimmy.

Jimmy Johnson is the founder of Sanddollar Communities, which focuses on the sourcing of off-market, direct-to-seller, mobile home parks. As of January 2023, he has closed 71 mobile home parks in 20 different states. 

Jimmy also founded Sanddollar Communities Management, a mobile home park management firm that manages a growing portfolio of 1,959 sites over 39 parks across the country. Jimmy lives in Tampa, Florida, and is an avid boater & tournament fisherman.

https://sanddollarcommunities.com

Find out more about Mario at MarioDattilo.net

Talking Points:

00:03 Introducing Mario’s Friend Jimmy Johnson Founder of Sanddollar Communities

01:30 How Jimmy’s Journey In Mobile Home Parks Started

05:29 Why Jimmy Went An Entire Year Before Making A Deal

07:04 Exploring The Connection Between Mobile Home Parks and Self-Storage

08:03 What’s Changed In Real Estate Through The Years

10:24 The Difference Between Wholesaling Single-Family Homes and Wholesaling Commercial Real Estate

16:36 Coaching Opportunity To Learn Everything About Mobile Home Parks With Mario

17:01 What Are The Benefits of Starting Young In Your Real Estate Career?

22:17 Taking The To Risk Travel and Meet People Face-To-Face

27:11 Advice For Going From Employee to Commercial Real Estate Owner

32:25 It’s All About Developing Good Relationships With Sellers

33:30 Why Jimmy Fell In Love With Fishing Tournaments

36:44 Skill Development Takes Patience and Is a Valuable Attitude

38:48 How To Get Ahold of Jimmy

SUBSCRIBE to the Mario Dattilo Show Podcast YouTube Channel:

https://www.youtube.com/channel/UCGGnRDb6pSONGT9PQmbXTbw

Check out this podcast website: MarioDattiloShow.com

Links & Mentions From This Episode:

http://www.getrealcashflow.com

www.jimmyjohnson.co

Instagram: @‌floridajimmy

TRANSCRIPT: