OPM Mastery

On this episode of the InvestFourMore Podcast I talk with Jarred Kessler who is trying to start a company that would eliminate the need for real estate agents. I am a real estate agent, and a big proponent of using agents to make the most money when selling or buying houses. This podcast definitely had some tense moments and differing opinions! Jarred started a company called Easy Knock after being in the financial services industry and believing that the way houses are bought and sold is inefficient and out dated. The idea is that buyers and sellers of homes can use the website to complete transactions without the help of a real estate agent. We go back and forth quite a bit about the advantages of this idea, and if it is really beneficial to consumers.

I have had up to 20 flips going at once this year, which can be a lot to handle.  I have a great team who helps me, and I have systems to get them repaired and sold. Before my team can do anything with the properties, we have to find properties to buy! In the past, I bought most of my flips from the foreclosure sale then had to change strategies and buy from the MLS. In the last year, I have bought many flips from wholesalers, and I am adding additional ways to buy. I have had good luck buying flips from the MLS and wholesalers, but I have not been buying as many houses as I thought I would. Last week, I bought my first flip since the middle of May. I have a goal to buy three flips every month, so that was a pretty long spell without buying any houses. I now have three more houses under contract and am getting back on track. On this episode of the InvestFourMore Real Estate Podcast, I talk all about how I find deals in today's real estate market.

One of the biggest hurdles to real estate investing is the cash needed to flip or buy rentals. Investors have to put more money down than owner occupied buyers, which makes it tough for many people to ever buy an investment property. Not only are there higher down payments for investment properties, but if you want a really good deal you may have to spend money on repairing a house as well. It also takes time to find good deals, find contractors, manage properties, and sell properties. Crowdfunding is one way to invest in real estate with less money and less work. Real estate crowdfunding is when a group of people pool their money together to invest in a fix and flip, an apartment complex, or some other type of property. Amy Kirsch is the Director of Investor Relations with Realty Shares, a crowdfunding company. She talks with me on this episode of the InvestFourMore Real Estate Podcast about how crowdfunding works, the pros, and the cons for people investing into projects and those looking to get funding for projects.

As a real estate agent I see emails all the time that are from fake title companies asking me to open an attachment. I also see emails from fake agents or buyers asking me to open attachments as well. I am usually smart enough to spot the fake emails, but some can seem very real or even appear to be from someone I know. It is pretty easy for someone to get hacked through their email, and being hacked is not a pleasant experience. On today's episode of the InvestFourMore Real Estate Podcast I talk with Idan Udi-Edry, who is the CEO of Trustify. Trustify is a company that specializes in cyber security and we talk about a number of topics from how prevalent is hacking, how to spot fake emails, what a hacker can do if they gain access to your information, how to protect yourself, the liability from handling other people's private information and much more.

Real estate has some amazing tax advantages, but you can still end up paying a lot in taxes to the IRS when you sell a property. Owning rental properties allows you to depreciate the structure of the property, but when you sell you may have to repay that tax savings. 1031 exchanges can be a way to defer the taxes when you sell rentals, but they come with many restrictions. 1031 exchanges cannot usually be used when you flip houses either. Bruce Jones with TaxWealth is an expert on real estate taxes and joins me on this episode of the InvestFourMore Real Estate Podcast to discuss strategies to reduce taxes on flips and rentals without doing a 1031 exchange.

This year has been pretty good so far. Things never go as you plan, but that is what makes life fun. I have had many challenges and successes and tried out many new ideas and techniques. I have sold 11 flips and purchased 11 flips. I bought one rental property, and there was quite a bit of change on my real estate team. I think I have a good chance of reaching many of the goals I set for this year, but I won't have as good of a chance with others. I set challenging goals on purpose so that I am forced to think of new and better ways to do things. I will go over the basics in these show notes, but make sure you listen to this episode of the InvestFourMore Real Estate Podcast to hear the full story.

On this episode of the InvestFourMore Real Estate Podcast, I speak with Jay Conner. Jay has been a full-time real estate investor for 14 years. He used to use banks for his financing. During the financial crisis, banks cut off his line of credit, and he had to find a new source of funding. Jay was able to obtain over 2 million dollars in private-money financing in a very short period of time. Private money has allowed Jay to fund over 350 rehabs in his career, and it has helped him build a very impressive business. On this show, we discuss how Jay got started in real estate, how his career evolved, and how he sources so much private money.

One of the biggest problems facing real estate investors is finding the money to buy houses. I have been an investor and agent for over 15 years, and with 15 rentals and up to 20 flips going at once, I still find myself looking for more money (doing 20 simultaneous flips could be why I am looking for more funding!). There are many ways to get money for a rental property or a flip, but today, I will talk about the best loans for investment properties. Most people with great credit and verifiable income can get a loan when first buying properties. Once you buy a couple of properties or have multiple mortgages in your name, finding a bank that will lend you money can get tricky. I feel that banks are the best financing source because they offer the lowest rates and the longest terms. If a bank says they will not lend to you, do not give up on banks: find the right bank. There are many different types of banks and lenders who will lend to real estate investors. On this episode of the InvestFourMore Real Estate Podcast, I review the best loans for beginning, intermediate, and advanced investors.

Tim Rhode was a grocery clerk when he bought he got the real estate bug. He started selling houses as an agent and investing in rental properties. Tim knew if he wanted to be successful he would have to do work harder and smarter than his competition. On this episode of the InvestFourMore Real Estate Podcast I talk with Tim about his journey into real estate. How he sold over 2,500 homes as an agent, bought as many rentals as he could, flipped houses, and ended up retiring very early with a substantial portfolio. Tim not only was very successful in real estate, but he started a non-profit organization to help others be successful as well.

Whitney Nicely has a background in selling dump trucks, but eventually made herself into a full-time real estate investor and broker. On this episode of the InvestFourMore Real Estate Podcast I talk with Whitney about how she got into real estate investing with rental properties, learned how to buy many more properties with lease options, has flipped houses, and even invested in multifamily apartments.