Neal Bawa, otherwise known as the Mad Scientist of Multifamily, joins us today for a discussion about how he has used his data science background to make a memorable mark on the real estate industry. Neal’s insatiable curiosity, his persistence, and his drive to disrupt have led to him being in charge of a $1 billion multifamily portfolio with 700 team members, not to mention that he is one of the most in-demand speakers in the commercial real estate space! During this episode, Neal explains what Super Value Add projects are, what drove him to start doing them, and why he would recommend them over ground-up construction projects. We also delve into the structures that Neal has put in place which allow him to do 30 projects a year and work only 35 hours a week, why he prioritizes his mental and physical health, and the plans that he has to give back to society in a very meaningful way. 

Key Points From This Episode:

• How an applied statistics course changed Neal’s life.
• Where Neal’s real estate journey began.
• An overview of what Neal’s journey in the real estate space has looked like to date.
• The three major real estate categories that Neal focuses on.
• Why Neal feels an affinity towards physicist, Richard P. Feynman. 
• Neal explains why he is less bullish about Multifamily Value Add projects than he was 5 years ago.
• Challenges that Neal ran into when he decided to combine Multifamily Value Add with construction.
• The brand new equity tranche that Neal invented.
• Why building trust is a key to the success of a Super Value Add project. 
• 27 days; the length of time it took Neal to fill his Park Canyon apartment block.
• Neal’s upcoming Super Value Add project. 
• The optimal property price for a Super Value Add project.
• Why Neal would recommend doing a Super Value Add over a ground-up construction project.
• The responsibility that you have to look after your physical and mental health when you are managing other people’s money.
• What Neal sees as the ideal number of weekly working hours.
• Neal’s 2 to 3 year plans to give back to the world in a meaningful way. 

Links Mentioned in Today’s Episode:

Neal Bawa on LinkedIn

Grocapitus Investments

Ugro Capital

Multifamily University

NeighborhoodScout

Surely You're Joking, Mr. Feynman!

StretchLab

Peter Pomeroy Email Address

Peter Pomeroy on LinkedIn

Vertical Street Ventures

Passive Income Through Multifamily Real Estate Facebook Group

Welcome to another episode of Passive Income Through Multifamily Real Estate. Joining us in conversation today is Tom Laune, founder of Bulletproof Wealth. Tom kicks off our conversation by giving us an overview of how banks make money and why that is important, before he gives us a definition for another way to process your money: infinite banking, which originated in Austria. He tells the story of losing his high-frequency hearing while working in the music industry, which sparked his realization that it’s so important to protect your livelihood. It was also through this experience that he learned the importance of moving forward one step at a time. Tom’s message comes down to the fact that you have to trust the person you are investing with, and he points us in the direction of a free resource he provides on his website, videos to guide your decision-making and help you to self-educate. In closing, he reminds listeners that changing the way you manage your finances is a process, and it’s not about the rate of return. We hope you join us to hear him pass along these lessons from his life and business today. 

Key Points From This Episode:

• An introduction to today’s guest, Tom Laune.
• Tom’s overview of how banks make money and why that is important.
• The crux of what he does: helping people to understand how banks make money and teaching them to do it themselves.
• Why everything he does is customized to individual customers.
• What infinite banking is: a process of controlling your personal banking in your own life.
• Term insurance and building equity which becomes yours.  
• How a whole life policy protects you against fluctuating values.
• The main difference between banks and insurance companies.
• Why Variable Universal Life is a highly volatile product in comparison to Whole Life.
• Eligibility and funding requirements to qualify for Whole Life
• How the longer you fund it, the more it compounds.
• How insurance works to replace your income.
• The age-limited basis that Whole Life operates according to.
• How Tom is taking people’s real estate return of 12% and taking it to 200%.
• The long-term strategy leading up to your cash value increase to exceed what you put in.
• Why you get more life insurance while your cash value is going up.
• Why he invests in people rather than investments.
• Why he believes life insurance is so much more reliable than any bank.
• Where you can get his videos for free: on his website.
• Why the most important thing is always to be comfortable with the person you are lending from.
• The catalyst that put him on this track: losing his high-frequency hearing while working in the music industry. 
• What it was like to lose his hearing.
• The hope that disability insurance created in his life.
• The importance of moving forward one step at a time.
• What he wants listeners to leave knowing: remember that this is not about rate of return, and know that it is a process. 
  
  

Links Mentioned in Today’s Episode:

Tom Laune on LinkedIn

Bulletproof Wealth

Limitless Estates

Passive Income Through Multifamily Real Estate Facebook Group

APT Capital Group

Weathering the 2008 market crash is no mean feat, and some fared better than others. Talking to us today about the hurricane he faced when the recession began, and the lessons he learned from the process, is entrepreneur, author, real estate trainer, public speaker, and personal coach, Mike Morawski. Mike started his professional career as a pool contractor, but through a series of events, transitioned into real estate in the early 2000s. We find out how he learned all he could from those who had succeeded, and why he prefers diving right in instead of dipping a toe. We hear how Mike moved from residential real estate into syndicates, and the techniques he used to raise capital and recruit investors. Mike also gets candid about the five big mistakes that he made when building the portfolio: growing too fast, being undercapitalized, being overleveraged, not paying attention to the red flags, and finally, not listening to those close to you. From helpful advice regarding being upfront, and paying attention, this first part of the two-part series with Mike is a fascinating listen. So, to learn from one of the greats, tune in today!

Key Points From This Episode:

• Welcome to Mike Morawski, entrepreneur, author, real estate trainer, public speaker, and personal coach.
• An introduction to our newest host, Peter Pomeroy.
• How Mike moved from being a general contractor, into real estate. 
• Why it’s important to learn from those who have succeeded.
• Mike’s thoughts on “Dipping a toe” compared to jumping right in. 
• Why Mike moved from residential real estate to syndicates. 
• How Mike raised capital and recruited investors. 
• Who comprised Mike’s team, and the five big mistakes he made.
• The perfect storm: how the crash in 2008 affected Mike’s business.
• The lessons Mike learned from the crash. 
• Where you can get hold of Mike, and what to expect from part two! 

Links Mentioned in Today’s Episode:

Mike Morawski on LinkedIn

Mike Morawski on Instagram

Mike Morawski Email

My Core Intensions

Passive Income Through Multifamily Real Estate Facebook Group

APT Capital Group

Welcome to another episode of Passive Income through Multifamily Real Estate. During today’s conversation, our new host, Peter Pomeroy, speaks with Jenny Gou, managing partner at Vertical Street Ventures. Jenny has recently been named one of Bigger Pockets Wealth Magazine’s top 40 under 40, and during today’s conversation, she tells us how her humble beginnings keep her thankful for every milestone of success. Listeners will gain insight into Jenny’s career at Procter & Gamble prior to starting Vertical Street Ventures, how she found her mentor, Steven Louie, and why she made the decision to quit her job before purchasing her first property. We talk about team culture, and Jenny reveals the complementary skills that make her and Kyle such a great team, before chatting property managers, and discussing what motivated Vertical Street Ventures to open up their own academy, and how they went about doing so. We also hear some intriguing details about their upcoming conference in Arizona and the exciting guests that will be speaking, and much more! Tune in to hear more today. 

Key Points From This Episode:

• Welcoming our new host: Peter Pomeroy.
• An introduction to today’s guest, Jenny Gou, and her role at Vertical Street Ventures.
• Jenny’s recent mention as one of Bigger Pockets Wealth Magazine’s top 40 under 40.
• How she keeps it real despite Vertical Street Ventures’ exponential growth: gratitude.
• Her career at Procter and Gamble leading up to becoming managing director at Vertical Street.
• The story of how she quit her job before purchasing her first property.
• How she found her mentor, Steven, and why coaching is so important. 
• What the first six months of starting Procter & Gamble were like. 
• Why she is such a huge believer in team culture and what that means.
• How Vertical Street Ventures acquired 86 million in acquisitions throughout COVID.
• Where she sees the company in five years time. 
• What piece of asset management she finds most exciting and why it is so productive to work with Kyle.
• Why it is so important to have a good property manager. 
• Why there is so much to be said for finding your property management sweet spot.
• What motivated them to start their own academy to add more value.
• What differentiates their academy: it is a true hands on approach with one-on-one training.
• Their upcoming conference on June 4th and 5th in Arizona featuring Hunter Thompson, Bronson Hill, Amanda Han, Michael Becker, and more.
• Equinox on Prince, Jenny’s investment property in Tucson.
• What is so productive about a market like Tucson or Phoenix.
• What Jenny and her husband to nurture their relationship while working together.

Links Mentioned in Today’s Episode:

Equinox on Prince
VSV Conference 

Jenny Gou on LinkedIn
Vertical Street Ventures
Northlight Growth Properties
Peter Pomeroy on LinkedIn

Limitless Estates

Passive Income Through Multifamily Real Estate Facebook Group

Welcome back to part two of our conversation with Mike Morawski, a 30-year real estate investment veteran who has had control of over 285 million dollars in real estate transactions, entrepreneur, author, real estate trainer, public speaker, and personal coach. He has also served a 10-year prison term in a federal penitentiary. Join us today to hear how defining moments in his life helped him to move forward and inspire others to do the same. He believes that people are trapped in their own prisons of addiction and abuse, and that the same principles that empowered him to make the most of his time behind bars can help others to turn their lives around. We touch on faith and family before he gets candid about learning to forgive himself and others through the power of understanding scripture. In closing, he offers advice to those navigating the sometimes troubled waters of real estate, reminding listeners that a career is a marathon, not a sprint! Thanks for tuning in.

Key Points From This Episode:

• Introducing our new host: Peter Pomeroy.
• A re-introduction to our guest, Mike Morawski, a 30-year real estate veteran. 
• His other endeavors as an entrepreneur, author, real estate trainer, public speaker, and personal coach.
• His career history leading up to starting his firm, My Core Intentions, and The Insider Secrets Podcast.
• What it was like to serve a 10-year prison term in a federal penitentiary.
• The story of a defining moment that happened in the gym. 
• Why he believes that people are trapped in their own prisons of addiction and abuse.
• Why you have to make choices to move forward. 
• The power of understanding your ‘why’.
• His daily practices in prison and what he has sustained on the outside.
• The role of his faith and his relationship with God, and the Zoom Bible Study he hosts.
• How scripture helped him to forgive himself and others.
• How he partners with people today to help them to find their ‘why’.
• His advice to investors: slow down, it’s a marathon, not a sprint.
• His advice to those struggling to get motivated: don’t let the stuff beat you, get over it, move forward! 
• Where to find Passive Income through Multi-Family Real Estate online.

Links Mentioned in Today’s Episode:

Exit Plan 

Michael Morowski on LinkedIn
Mike Morawski on Twitter

My Core Intentions
Multi-Family Unplugged
The Insider Secrets Podcast

Limitless Estates

Passive Income Through Multifamily Real Estate Facebook Group

Today’s guest is Bruce Wuollet, the Founder and Owner of Bakerson LLC. Growing up in the bakery business in the Twin Cities in Minnesota, Bruce wanted to pay homage to his late father (hence the name, Bakerson). After trying his hands in a few different ventures in Minnesota, Chicago, and Phoenix, he finally found his niche in real estate. With a proven track record of success throughout Bakerson’s 20-year history and thousands of individual units bought, repositioned, and sold, Bruce has overseen all aspects of the business, from operations, acquisition, and project leadership to equity fund management, syndications, legal, finance, and more! His focus is finding good deals while his passion is serving residents, building relationships, and creating communities out of apartments. Listening in, you’ll learn why Bruce attributes Bakerson’s success to their hyper focus on workforce housing, coupled with their reputation for tackling ‘tough’ projects, which has provided them with tremendous credibility. Bruce also shares how his business has evolved over the last two decades and offers some insight into the value adds his tenants care about, some of the unique challenges and opportunities that come with workforce housing, and his innovative approach when it comes to long-term hold periods, as well as how his father taught him to value relationships, and so much more! Tune in today to learn more!

Key Points From This Episode:

• A glimpse into the early days of Bakerson and how the business has evolved since.
• Why Bruce believes it was a mistake not to embrace wholesaling through technology.
• Insight into Bakerson’s focus on an underserved demographic: workforce housing.
• Defining who Bakerson serves as lower middle class and upper lower class.
• Value adds that Bruces’ tenants care most about: safe, functional, durable, and clean.
• Why amenities are less important than curb appeal for workforce housing.
• The pros and cons of working with properties built in the 1960s and ‘70s.
• Some of the biggest challenges and opportunities unique to workforce housing.
• Why Bruce values his connections with the communities that he invests in.
• Bruce shares his innovative approach when it comes to long-term hold periods.
• The three types of investors attracted to this model.
• Progress on the 65-unit motel conversion project Bruce is working on in Sierra Vista.
• Buying per square foot, having multiple contractors work in sync, and other key takeaways.
• How underwriting is impacted by inflation and supply chain delays.
• Hear the story behind the company name, Bakerson, and how it honors Bruce’s father.
• Bruces shares his vision for Bakerson in 10 years’ time; living off cashflow alone.

Links Mentioned in Today’s Episode:

Bruce Wuollet on LinkedIn

Bakerson LLC

Bakerson LLC on LinkedIn

Bakerson LLC on Facebook

Peter Pomeroy on LinkedIn

Peter Pomeroy Email 

Vertical Street Ventures

Passive Income Through Multifamily Real Estate Facebook Group

By now, most of us have heard about why coaching is so central to any sort of professional or personal progress. Here on the show today to drill down on this subject and share his amazing journey and philosophy toward growth is Nick Santonastasso, the author of Victim to Victor: How to Overcome the Victim Mentality to Live the Life You Love. Nick is also a keynote speaker at our upcoming Vertical Street Ventures National Conference. This conversation serves as a great introduction to Nick's passion and insight and is sure to get you even more motivated to go and get your ticket, if you have not already! Being born with Hanhart Syndrome, Nick has faced many challenges that are foreign to much of the population and, as you will hear in our chat, Nick believes this equipped him with a vital solution-oriented mindset; something he believes is indispensable to success. We hear from our guest about his ideas around pattern recognition, the AIA framework for change, gratitude practices, and his best advice for changing an emotional and mental state. For a fresh dose of energy and wisdom from a young man making waves, be sure to listen in to this great episode!

Key Points From This Episode:

• Background on Nick and how his journey with Hanhart Syndrome has affected his outlook. 
• Important lessons that Nick learned early about failure and solutions. 
• The conditioned and unconscious thought patterns that govern the majority of what we do.
• Taking steps to become aware of dangerous mindsets and thought patterns.
• How self-inducement works and why our focus dictates how we feel.   
• The ever-present possibility to change; why rewiring the brain is always an option.
• Confronting the victim mindset and our limiting beliefs!  
• Contextualizing weaknesses and realistic expectations for how much progress we can make.  
• The core of our limiting beliefs and how feeling worthy can impact this. 
• How Nick uses questions to help his clients make breakthroughs. 
• Nick's thought's on gratitude and his own practice around fostering it.  
• The small promises that can aid us in building self-confidence and momentum. 
• Nick explains his idea of finding leverage as a means for change. 
• How to get in contact with Nick and looking forward to his keynote speech at the Vertical Street Ventures National Conference!  

Links Mentioned in Today’s Episode:

Nick Santonastasso on Instagram

Nick Santonastasso on Twitter

Victim to Victor

Tony Robbins

Joseph Campbell

Jim Rohn 

Vertical Street Ventures

Vertical Street Ventures National Conference

Peter Pomeroy on LinkedIn 

Peter Pomeroy Email 

Passive Income Through Multifamily Real Estate Facebook Group

Dealing with things like depreciation, tax deductions, and cost segregation, can feel overwhelming and inaccessible as a first-time real estate investor, but it doesn’t need to be. Today on the show we chat with Erik Oliver, a Cost Segregation Expert and Regional Manager with Cost Segregation Authority, a company that specializes in Cost Segregation studies. We talk with Erik about how he pivoted to pursue this area of real estate and why he finds so much satisfaction in helping people save on their taxes. Tuning in you’ll hear Erik break down the role of depreciation in real estate, the mechanics of how it works, and how you can capitalize on it under the current tax laws. We also discuss when you can implement a cost segregation study based on the value of your property as well as other elements of your investments. Erik shares his advice for anyone looking to make a career change, as well as insights into how he maintains momentum in his work while raising young kids and making time to spend with his family. We had a great conversation with Erik, and if you’re interested in learning more about cost segregation, depreciation, and tax deductions, make sure you tune in today!

Key Points From This Episode:

• Introducing today’s guest Erik Oliver a Cost Segregation Expert and Regional Manager with the company, Cost Segregation Authority.
• An overview of the Tax Cuts and Jobs Act and how that relates to cost segregation.
• Some of the motivations behind the Tax Cuts and Jobs Act.
• The standard depreciation that accumulates when you buy a building.
• The benefits of depreciation and why it doesn’t apply to land.
• A breakdown of cost segregation and the role it plays in depreciation.
• How cost segregation can accelerate depreciation.
• The IRS approved guidelines that cost segregation experts use in their processes.
• The difference between how personal property and real estate depreciates.
• The different approaches companies can take to evaluate a property’s worth.
• How a lookback study allows you to reevaluate the value of your property and incorporate a cost segregation study years after you acquired it.
• Insights on when to implement a cost segregation study depending on the value of your property and other aspects of your investments.
• A breakdown of what bonus depreciation means and how it relates to cost segregation.
• Erik’s advice to listeners who are considering a significant career change, particularly towards real estate.
• What Erik does to maintain a balance between the momentum in his career and having a family and young kids at home. 

Links Mentioned in Today’s Episode:

Cost Segregation Authority

Erik Oliver on Linkedin

Limitless Estates

Passive Income Through Multifamily Real Estate Facebook Group

You’ve probably heard that the three most important things in real estate are location, location, location, but today’s guest believes that successful deals are more often about the people you invest with than anything else! Today, Peter Pomeroy speaks with architect and multifamily investor, Diana Lin, who focuses on acquisitions, strategic direction, and asset management at Navi Ventures. She is also an AIA Licensed architect with over 10 years of experience as a Project Manager and Project Architect in New York, Texas, and China. In her career as an architect, Diana designed and managed large-scale, award-winning buildings in office, multifamily, hospitality, and retail properties. In today’s episode, she sheds some light on her journey as a multifamily investor. From why she suggests joining a mentorship group to the benefits of prioritizing effective communication, Diana has some valuable insights to share, including her belief that it’s the people you partner with that make all the difference. Ultimately, she maintains that you can't do it by yourself; you have to leverage the expertise of others to help you be successful! Tune in today to learn more in this thought-provoking conversation with Diana Lin!

Key Points From This Episode:

• Insight into Diana’s background and career trajectory from architecture to real estate.
• Why Diana and her husband started in multifamily and how they educated themselves and built up a network by joining a mentorship group.
• Finding her first investment; why Diana encourages listeners to attend multifamily meetups.
• Lessons she has learned about underwriting since doing due diligence on that first deal.
• Why successful deals are more about the people you invest with than the numbers.
• Advice for getting a sense of a deal sponsor prior to investing with them: ask around!
• Prioritizing effective communication as well as expected returns to mitigate uncertainty.
• Learn more about Navi Ventures and its focus.
• Their latest deal in Glendale, Arizona, and how Vertical Street Ventures contributed to it.
• The motivations behind doing a 506-B and Diana’s findings at the end of the process.
• How Navi Ventures leverages Diana and her husband’s backgrounds to attract investors.
• Diana shares her goals for Navi Ventures for the next 12 months and the next five years.
• What financial freedom means to Diana: more time with her family.
• How building relationships with good partners will take Navi Ventures to the next level.

Links Mentioned in Today’s Episode:

Diana Lin on LinkedIn

Diana Lin Email

Navi Ventures 

Vertical Street Ventures

Vertical Street Ventures Academy

Passive Income Through Multifamily Real Estate Facebook Group

Peter Pomeroy on LinkedIn

North Light Growth

Systems and technology are an important side of any real estate business, but this doesn't mean there is not an equally important human element to what we do. This is one of the messages that today's guest, Melanie McDaniel, underlines in this fascinating conversation. Melanie is the Founder of Freestyle Capital Group, a boutique private equity firm, and we are so happy to welcome her to the show to talk about how she partners with investors, the Freestyle Fund, how she approaches building relationships, and her current investment focuses. We also get a little personal with Melanie, touching on her belief in intentionality and using real estate to design the life you actually want! Our guest talks about traveling and staying open-minded to a life that is not limited by external expectations and pressures, as well as how we might think about transitioning into active investment. So to hear all this inspiring, practical, and thought-provoking wisdom from Melanie, be sure to press play!

Key Points From This Episode:

• Melanie's professional background and path to her current work in real estate.  
• The common sense and learning that guided Melanie's decision to go into multifamily.  
• Foundations and preparations; the work ethic that Melanie brought forward from her time in the military. 
• The key steps in what Melanie offers investors through Freestyle Capital Group, and some information on the Freestyle Fund.  
• How travel plays into and influences Melanie's life and work!
• Melanie shares her secret to finding new operating partners at conferences.
• The kinds of partners that Melanie aims to work with; a description of her ideal avatar.  
• Facilitating and building long-term relationships with partners.
• Moving through deals and making the most of the nerve-wracking process. 
• The types of deals that Melanie is currently focused on.  
• Advice that Melanie would give herself about the temporary nature of things!
• Words of wisdom from Melanie for anyone considering getting in active investment. 
• How and where to find Melanie online to make use of her great services.

Links Mentioned in Today’s Episode:

Vertical Street Ventures

Melanie McDaniel on LinkedIn

Freestyle Capital Group

Melanie McDaniel Email

Melanie McDaniel on Twitter

Rich Dad, Poor Dad

BiggerPockets 

Peter Pomeroy on LinkedIn