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Mastering Real Estate
Mastering Real Estate episodes
- Episode 22 - Starting a Property Management Company
This video features Maura McGraw, a full-time real estate investor since 2018, sharing her challenging journey of starting and running a property management company alongside her business partners, Danny Gonzalez and Aziz Shannara.
After purchasing a 42 property portfolio in Birmingham, Alabama and unsatisfied with existing property management services, they decided to establish their own company, Freedom Ventures Property Management.
Maura discusses the hurdles and steep learning curve they faced, from legal setup, office establishment to managing over 600 units in three years, and the importance of followership, scaling growth wisely, and focusing on core businesses without overextending.
Maura shares personal insights on how this experience taught her valuable lessons on leadership, growth, and the importance of maintaining a balanced life outside of business ventures.
00:00 Introduction to Property Management Challenges
00:39 Welcome to the Mastering Real Estate Podcast
01:23 The Journey Begins: Starting a Property Management Company
03:11 The Rollercoaster of Running a Property Management Business
07:31 Learning the Hard Way: Growth and Scaling Challenges
11:19 A Personal Pivot: Refocusing on Core Values
15:53 Key Takeaways and Closing Thoughts
Episode Resources:
- Slideshow Link
Check out our Master Class and learn how to start or scale your real estate investing career the right way
We also have an AWESOME newsletter that you can subscribe to here
Follow Duratus:
- Website
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Follow Maura:
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- Bigger Pockets
18 min - Episode 21 - Advanced Tax Strategies
In episode 21 of the Mastering Real Estate Podcast, host Maura McGraw reviews Amanda Hahn and Matthew McFarland's book, 'Advanced Tax Strategies for the Savvy Real Estate Investor.'
This episode builds on the fundamentals introduced in their first book, focusing on more sophisticated methods for minimizing tax liabilities and maximizing profits within the real estate domain.
Maura discusses the importance of understanding tax strategies for real estate professionals, emphasizing how many are likely to miss out on savings due to a lack of knowledge.
The book covers various topics, including tax planning, accelerated depreciation, benefits for real estate professionals, 1031 exchanges, retirement account savings, and more. It emphasizes proactive tax strategies, including the importance of biannual meetings with CPAs.
The episode highlights key strategies such as cost segregation, comparing flips and BRRR strategy, and the advantages of 1031 exchanges.
Maura encourages all real estate and tax professionals to read the book, rating it an 8 out of 10, for its comprehensive guide to optimizing tax returns through well-informed investment strategies.Episode Resources:
- Slideshow Link
Check out our Master Class and learn how to start or scale your real estate investing career the right way
We also have an AWESOME newsletter that you can subscribe to here
Follow Duratus:
- Website
- Newsletter
- Facebook
- LinkedIn
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- YouTube
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- TikTok
Follow Maura:
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- TikTok
- Bigger Pockets
26 min - Episode 20 - The Portfolio Deal, Part 2
Deal Details
- Addresses: 43 Houses throughout Birmingham...
- Type: Mostly all tenant-occupied rentals
- Average Year Built: 1966
- Average SF: 1,607
- Average Mix: 3 / 1.5
- Year: Summer 2019
- Timeline: 2 months
- Purchase Price: $2.52M
- Down Payment = $630,000 (20%)
- 2 x 1031 Exchanged Flips = $130,000
- Raised $500K from private investors
- Strategy:
- Flip & sell 31 properties to investors through RP Capital = $1.6M
- Payback investors & bank
- Keep 11 properties = $500K ($5,500 Monthly Cashflow)
- Split between Danny & Duratus
Key Takeaways:
- You can partner on a deal without having a long-term partnership
- Logistics and project management are key skills for a flipper
- Never give up–there’s always a solution out there
Episode Resources:
- Slideshow Link
Check out our Master Class and learn how to start or scale your real estate investing career the right way
We also have an AWESOME newsletter that you can subscribe to here
Follow Duratus:
- Website
- Newsletter
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- LinkedIn
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- YouTube
- Pinterest
- TikTok
Follow Maura:
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- TikTok
- Bigger Pockets
14 min - Episode 19 - Get Control of Your Finances with David Richter
In this episode, I interview David Richter, the CEO of Simple CFO Solutions and author of the book “Profit First for Real Estate Investing.” We discuss his real estate journey, book writing, and his current passion–helping small business owners optimize their financial management. This episode is a GOLD MINE for real estate investors and business owners.
Follow David Richter:
- @richterscale91
- Profit First for Real Estate Investing - a MUST READ!
- Simple CFO Solutions
Leave a comment on our YouTube video and be entered to win a signed copy of David’s book!
Follow Duratus:
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Follow Maura:
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- Bigger Pockets
44 min - Episode 18 - The Portfolio Deal (Part 1)
Deal Details
- Addresses: 46 Houses throughout Birmingham...
- Ultimately cut down to 43
- Type: Mostly all tenant-occupied rentals
- Average Year Built: 1966
- Average SF: 1,607
- Average Mix: 3 / 1.5
- Year: Summer 2019
- Timeline: 2 months
- Purchase Price: $2.52M
- Down Payment = $630,000 (20%)
- 2 x 1031 Exchanged Flips = $130,000
- Raised $500K from private investors
Portfolio Deals
- Single-family (SF) portfolio deals are a less competitive niche in the real estate space because most investors focus on SF houses or apartment complexes
- This can be a good way to scale your portfolio quickly
- You must find a bank willing to put together an unconventional loan product to fund these deals
Key Takeaways:
- Single-family portfolio deals are a great secret niche
- Emotions matter just as much as the numbers in negotiations
- Fake it ‘till you make it
Episode Resources:
- Slideshow Link
Check out our Master Class and learn how to start or scale your real estate investing career the right way
We also have an AWESOME newsletter that you can subscribe to here
Follow Duratus:
- Website
- Newsletter
- Facebook
- LinkedIn
- Instagram
- YouTube
- Pinterest
- TikTok
Follow Maura:
- Facebook
- Instagram
- Pinterest
- TikTok
- Bigger Pockets
17 min - Episode 17 - “The Book on Tax Strategies for the Savvy Real Estate Investors”
"The Book on Tax Strategies for the Savvy Real Estate Investors" is a comprehensive guide written by experts in real estate taxation. It offers valuable insights and strategies for real estate investors to optimize their tax planning and maximize profitability. Covering a range of topics such as entity structuring, expense maximization, and income offset strategies, the book equips readers with practical techniques to reduce tax burdens and increase wealth accumulation.
Key Concepts:
- Entity Structuring: The importance of selecting the right legal entity for real estate investments to maximize tax benefits and protect assets.
- Expense Maximization: Strategies for maximizing deductions and expense write-offs related to real estate investments, including depreciation, repairs, maintenance, and operating expenses.
- Income Offset Strategies: Techniques for offsetting rental income with expenses, losses, and other deductions to reduce taxable income.
- Retirement Investing: Exploring tax-advantaged retirement accounts such as Self-Directed IRAs and Solo 401(k)s for investing in real estate and leveraging tax benefits for retirement savings.
- Long-Term Investment Strategies: Guidance on long-term hold strategies for residential and multi-family real estate investments, focusing on building wealth over time while minimizing tax implications.
- Tax Planning for High Net-Worth Individuals: Specialized tax strategies tailored for high net-worth individuals investing in real estate, including estate planning, asset protection, and wealth preservation.
- Legal Compliance and Risk Management: Ensuring compliance with tax laws and regulations while effectively managing risks associated with real estate investments.
Key Takeaways and Action Steps
- Track your tax deductible expenses - make sure you are tracking mileage, depreciation, and other expenses like your home office, travel, and meals and entertainment so that you can get a lot of tax deductions
Overall Book Rating: 6 / 10
- The authors clearly tried to make this book not dry by including lots of stories about each concept
- Concepts were clearly explained and relatively easy to understand
- Could have used more details about selecting a good CPA as a real estate investor
- Sometimes a few too many stories
Episode Resources:
- Slideshow
Check out our Master Class and learn how to start or scale your real estate investing career the right way.
We also have an AWESOME newsletter that you can subscribe to here.
Follow Duratus:
- Website
- Newsletter
- Facebook
- LinkedIn
- Instagram
- YouTube
- Pinterest
- TikTok
Follow Maura:
- Facebook
- Instagram
- Pinterest
- TikTok
- Bigger Pockets
23 min - Episode 16 - Project #8: Fool Me Once…
Deal Details
- Address: 548 Karey Drive, Birmingham AL 35215
- Type: Flip
- Year Built: 1970
- SF: 1,607
- Mix: 4/2
- Year: Mid2019
- Timeline: 3 months
- Project Cost: $107,000
- Purchase Price: $62,893
- Rehab:$5,765
- Sales Price: $135,000
- Profit: $66,000 (split 50/50)
- Before Photos
- After Photos
- Video Tour
Business Partnerships
- MUST have common values
- Don’t need to have the same background, but extreme differences may cause issues
- Complimentary skillsets
- Aligned goals
Key Takeaways:
- Your business partner must share your values and goals
- Read Gino Wickman’s book “Rocket Fuel” before entering into a business partnership
- Don’t partner with contractors
Episode Resources:
- Slideshow Link
- Video Tour
Check out our Master Class and learn how to start or scale your real estate investing career the right way
We also have an AWESOME newsletter that you can subscribe to here
Follow Duratus:
- Website
- Newsletter
- Facebook
- LinkedIn
- Instagram
- YouTube
- Pinterest
- TikTok
Follow Maura:
- Facebook
- Instagram
- Pinterest
- TikTok
- Bigger Pockets
16 min - Episode 15 - “Profit First for Real Estate Investing”
"Profit First for Real Estate Investing" by David Richter is a guide that applies the principles of the "Profit First" system to real estate investing. The book offers a step-by-step approach to managing finances in real estate businesses, emphasizing the importance of prioritizing profit from the outset. Richter introduces the Profit First method, which involves allocating income into different accounts for profit, taxes, operating expenses, and more, ensuring that profit is a non-negotiable part of the financial strategy. The book provides practical advice on implementing this system, including setting up bank accounts, determining allocation percentages, and monitoring financial progress. This approach allows real estate investors to build sustainable and profitable businesses while minimizing financial stress and uncertainty.
Key Concepts:
- Sales – Profit = Expenses
- This formula is transformational because it shifts you from thinking about your expenses first and puts you and the health of your company first.
PFREI Implementation Steps:
- Owners write down their “Need” and “Want” numbers
- How many deals do you need to do and at what profit point do you need to do them to pay yourself what you Need?
- Run an INSTANT Assessment on Your Business
- Calculate Your CAPs & TAPs
- Set Up the Foundational Bank Accounts
- Set Up 5 Additional Recommended Accounts
- 3 More Advanced Accounts to Consider
- Prioritize & Cut Expenses
- Run a PFREI Assessment of the Business
- Get the Maximum Return on Your Marketing Dollars
- Create a Deal Dashboard
Key Takeaways and Action Steps
- Run the Instant Assessment
- Find out where your business stands regarding profitability
- Implement Profit First
- Download my checklist and start implementing this in your business
Overall Book Rating: 8 / 10- Transformational for your business
- Simple, easy to read and understand
- Actionable
Episode Resources:
- Slideshow
- PFREI Implementation Checklist
Follow Aziz Shunnara:
- Consulting with Aziz
- Follow @zshunnara on Instagram
Check out our Master Class and learn how to start or scale your real estate investing career the right way.
We also have an AWESOME newsletter that you can subscribe to here.
Follow Duratus:
- Website
- Newsletter
- Facebook
- LinkedIn
- Instagram
- YouTube
- Pinterest
- TikTok
Follow Maura:
- Facebook
- Instagram
- Pinterest
- TikTok
- Bigger Pockets
45 min - Episode 14 - Project #7: Buying a House at Auction
Deal Details
- Address: 2457 Watson Road, Birmingham, AL 35235
- Type: Flip
- Year Built: 1974
- SF: 1,324
- Mix: 3/1.5
- Year: 2019
- Timeline: 7 months
- Project Cost: $107,000
- Purchase Price: $57,000
- Rehab: $50,000
- Sales Price: $135,000
- Profit: $28,000
- Before Photos
- After Photos
- Video Tour
How to Navigate Auctions
- Be prepared (do a title search, investigate the house, run your numbers conservatively)
- Observe an auction before buying
Key Takeaways:
- Be prepared BEFORE you go to auction
- Find a local non-profit junk removal partner
Episode Resources:
- Slideshow Link
- Before Photos
- After Photos
- Video Tour
Check out our Master Class and learn how to start or scale your real estate investing career the right way
We also have an AWESOME newsletter that you can subscribe to here
Follow Duratus:
- Website
- Newsletter
- Facebook
- LinkedIn
- Instagram
- YouTube
- Pinterest
- TikTok
Follow Maura:
- Facebook
- Instagram
- Pinterest
- TikTok
- Bigger Pockets
31 min - Episode 13 - Donald Trump’s “The Art of the Deal”
Episode 13 - Donald Trump’s “The Art of the Deal”
"The Art of the Deal" is a memoir written by Donald J. Trump and author Tony Schwartz, published in 1987. The book provides insights into Trump's business career and his approach to deal-making. It covers Trump's early real estate ventures, his involvement in high-profile projects like Trump Tower, and the challenges he faced.
Key Concepts:
- Hire the Best
- Think Big
- Get Opinions & Talk to People
- Work the Press
- Leadership
Key Takeaways and Action Steps
- Hire the Best
- Trust Your Instincts
- Work the Press
Overall Book Rating: 6 / 10
- Easy, interesting, & enjoyable
- Lacking depth
Episode Resources:
- Slideshow
- Key Concept Flashcards
Check out our Master Class and learn how to start or scale your real estate investing career the right way.
We also have an AWESOME newsletter that you can subscribe to here.
Follow Duratus:
- Website
- Newsletter
- Facebook
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- YouTube
- Pinterest
- TikTok
Follow Maura:
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- TikTok
- Bigger Pockets
22 min
About Mastering Real Estate
From the publisher's feed
I review the real estate industry's top books and share my lessons learned from 6+ years of being a full-time real estate investor.