PWS Pod

How can you use real estate investing to break free from the 9-to-5 job and focus on your passion?

 

Host Taylor Loht interviews Zach Schnall, AKA DJ Bander, to share how he used his real estate portfolio to focus on his true passion: music. Zach shares his journey of utilizing union wages and early business success to save and invest in real estate, ultimately enabling him to dedicate his time to creating and performing music. Throughout this episode, Zach opens up about the strategies and systems he employed to build and manage his real estate portfolio without it becoming a distraction from his musical pursuits. He also shares valuable insights on identifying the right investment opportunities, the importance of building a strong network, and the challenges and benefits of 1031 exchanges.

 

[00:00 - 03:45] How did DJ Bander’s entrepreneur journey start?

Saving and investing in real estate

Balancing the time between real estate, marketing, and music

The importance of having a diverse skill set to monetize

 

[03:46 - 14:00] Strategies for Building a Real Estate Portfolio

The advantages of being a minority investor in larger properties

The significance of hiring the right property managers and vendors

Adapting investment strategies to fit available opportunities and capital

 

[14:01 - 18:36] Navigating 1031 Exchanges and Market Challenges

The complexities and benefits of 1031 exchanges

Deciding when to sell and pay taxes versus utilizing a 1031 exchange

The impact of the cannabis industry on industrial real estate in Los Angeles

 

[18:37 - 28:11] Using Real Estate to Pursue Your Passions

Using real estate income to buy time for starting other businesses or pursuing creative endeavors.

The importance of living below your means and saving for future investments.

DJ Bander’s advice for aspiring investors and entrepreneurs.

 

 

Quotes:

"You want to use real estate as a way to buy yourself time to do it, to start another business or to start something else." - DJ Bander

 

"Try to live on a half, to two thirds of what you make. If you do that, you have no choice but to make money and have more." - DJ Bander

 

 

Connect with DJ Bander: 

Instagram: https://www.instagram.com/djbander/

Website: https://banderproductions.com/

 

 

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

Please leave a review and help others escape Wall Street and build wealth on Main Street!

How can you build a successful land investing business that allows you to take vacations and step away from the day-to-day operations?

 

In episode 716, host Taylor Loht interviews Dan Haberkost, a young land investor who has built a business that enables him to do deals from a distance and take extended vacations. Dan shares his journey, starting at the age of 21, and discusses his approach to land investing. He explains how he focuses on interesting land deals in the Southeast, building teams and systems that allow him to step away from the business. Throughout the conversation, Dan shares valuable insights into his business model, his thoughts on the current market, and the importance of building a business with the right people and processes in place.

 

[00:00 - 06:45] Misconception about Land Investing

How the land investing market works.

Subdivisions with existing infrastructure VS. Raw Land.

Using local experts to help assess deals in different markets.

 

[06:46 - 18:22] Identifying the Right Seller and Building Rapport to Close Deals

Identifying your seller: who is it and what are their motivations?

Building legitimacy and differentiating oneself from other investors is crucial for getting deals.

Understanding short-term deals and long-term ones. 

 

[18:23 - 25:33] Building a Business with Systems and Teams

Learning the process yourself before hiring others is essential.

Creating standard operating procedures (SOPs) and finding reliable title companies and realtors are key to success.

Hiring the right people and improving the system. 

 

[25:34 - 31:35] The Entrepreneur's Journey and Future Plans

Building a network and working with referrals has been effective in finding good team members.

There's no specific moment of "making it," and the focus should be on continual growth and pursuing enjoyable aspects of the business.

Prioritizing people, planting long-term seeds, and maintaining perspective are essential for long-term success.

 

Quotes:

"Good people and good systems is the key, as with any business." - Dan Haberkost

 

"Business should never be the first priority. People should. Don't forget to plant the long-term seeds amongst all the short-term profits." - Dan Haberkost

 

Connect with Dan Haberkost: 

Website: https://danhaberkost.com/

Podcast: Big Picture Blueprint 

 

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

Please leave a review and help others escape Wall Street and build wealth on Main Street!

Taylor discusses the importance of eliminating distractions and staying focused on our goals. He shares his personal experience with implementing a system to eliminate digital distractions and the challenges he faced. Taylor emphasizes the need to restart and recommit to the elimination of distractions to maintain focus. He also highlights the negative impact of engaging with content that focuses on the problems in the world and encourages listeners to focus on the positive and the things they can control. Taylor concludes by encouraging listeners to build a system that eliminates negative influences from their information diet and prioritize what is important in their lives.

How can you use your unique strengths to succeed in real estate investing, despite starting with limited funds?

 

In episode 714, host Taylor Loht sits down with Stephanie Cabral to talk about her journey from being an underemployed attorney to building a $3 million real estate portfolio as an accidental investor. Stephanie shares how she used the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy to build her portfolio, focusing on value-added improvements and creative financing techniques. She also shares her tips for managing properties remotely and the importance of building systems and teams to achieve time and location freedom. Stephanie's story is proof of the power of resourcefulness, determination, and seizing opportunities when they arise.

 

 

[00:00 - 06:05] From Underemployed Attorney to Real Estate Entrepreneur

How Stephanie's journey began.

Using a 203k loan for her first deal, gaining construction experience with minimal risk.

The potential for appreciation and cash flow in real estate investing.

 

[06:06 - 13:38] Mastering the BRRRR Strategy

Focus on value-add improvements to maximize appreciation.

Techniques for cost-effective upgrades.

Exploring creative financing options, such as hard money lending, private money, and tax credits.

 

[13:39 - 22:20] Building Systems and Teams for Time and Location Freedom

The importance of creating checklists and standard operating procedures.

Outsourcing tasks.

Distributing the team to improve operations. 

 

[22:21 - 29:37] Advice for Aspiring Investors

Focusing on competitive advantages.

Building relationships with potential partners.

The benefits of self-managing properties for better tenant quality and cash flow, as well as the option of passive investing through syndications.

 

Quotes:

 

"The more nos you get, the closer you are to a yes." - Stephanie Cabral

 

"What are your competitive advantages, and how can you take advantage of that?" - Stephanie Cabral

 

"If you start a business that depends entirely on you, you didn't buy a business, you bought a job." - Stephanie Cabral, referencing Michael Gerber's "The E-Myth"

 

Connect with Stephanie Cabral: 

Website: https://www.theleanlandlord.com/

Instagram: https://www.instagram.com/leanlandlord/

 

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

Please leave a review and help others escape Wall Street and build wealth on Main Street!

In this episode, we speak with David Kamara, a long-time real estate investor, about his experience and knowledge of the market. They discuss the importance of patience in real estate investing and how to remain patient as the market changes. David emphasizes the need for a well-thought-out business plan and the importance of executing it operationally. They also talk about the challenges of real estate investing and the importance of focus in order to achieve success. David shares his insights on scaling a real estate portfolio and the role of property management in managing operations. He recommends the book 'The Millionaire Real Estate Investor' and shares his inspiration from the movie 'The Banker'. Finally, David advises his younger self to never sell anything in real estate.

Manage your properties with Stessa: https://stessa.sjv.io/c/2425882/1152983/14113

What are the biggest risks when dealing with foundation issues, and how can real estate investors avoid expensive problems?

 

In episode 712, host Taylor Loht sits down with Bob Brown, a foundation repair expert who built a successful foundation repair business and invested in residential and commercial properties along the way. Bob shares how investors can arm themselves with knowledge when dealing with potential foundation issues and foundation contractors. He emphasizes the importance of seeking the advice and guidance of an independent, forensic engineer before approaching contractors. Bob also discusses the various technologies and solutions used in foundation repair, including foam, helical piers, and compaction grouting. Throughout the interview, Bob explains the importance of making informed decisions based on expert advice rather than relying on the opinions of foundation repair salespeople.

 

[00:00 - 03:51] Understanding the Foundation Repair Industry

Bob Brown’s background in foundation repair and property investment.

The role of foundation health in real estate investment.

Misconceptions about foundation repair and the importance of expert assessment.

 

[03:52 - 10:43] Diagnosing Foundation Problems Correctly

The necessity of having a civil engineer diagnose foundation issues.

Challenges in finding unbiased assessments from contractors.

The difference between engineers and sales-driven contractors in foundation evaluation.

 

[10:44 - 13:00] Economic Viability of Foundation Repairs

Cost considerations in repairing vs. demolishing structures with foundation issues.

Bob’s experience with large-scale foundation repairs and their economic implications.

Identifying how bad the foundation damage is and how easy it is to fix.

 

[13:01 - 22:58] Advanced Foundation Repair Technologies

Evolution of foundation repair technologies and their application.

The benefits and limitations of using foam for leveling slabs.

Comprehensive solutions for underpinning and soil stabilization.

 

[22:59 - 26:38] Questions Round

Book: Foundational Repair Secrets by Bob Brown. 

Recommendations: Cosmos by Carl Sagan.

The importance of eating, sleeping and exercising well. 

 

Quotes: 

 

"If you're doing those things and you're not an engineer, you're practicing engineering without a license." - Bob Brown

 

"Exercise, get the right amount of sleep, and eat right." - Bob Brown

 

 

Connect with Bob Brown: 

Website: https://foundationrepairsecrets.com/

 

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

Please leave a review and help others escape Wall Street and build wealth on Main Street!

How can preferred equity deals help developers navigate the current real estate market challenges while offering attractive returns to investors?

 

In episode 711, host Taylor Loht welcomes Darin Davis, a real estate investor who has successfully executed transactions approaching $1 billion through his investment firms. Darin shares his perspective on the current real estate market and how preferred equity deals can benefit both developers and investors. He talks about the challenges developers face in the current market, including rising interest rates, falling valuations, and reduced loan proceeds. Darin explains how preferred equity can help developers bridge the gap and complete their projects while offering investors attractive returns with a defined timeframe and a safer position in the capital stack. Darin emphasizes the importance of underwriting, and being focused on class A assets in prime locations. He also shares his perspective on the current market compared to previous recessions and offers advice for young people looking to build a strong financial foundation.

 

[00:00 - 05:40] Challenges Facing Developers in the Current Market

Rising interest rates, falling valuations, and reduced loan proceeds.

How preferred equity can help developers bridge the gap and complete their projects?

Preferred equity offers investors attractive returns with a defined timeframe and a safer position in the capital stack.

 

[05:41 - 13:03] Navigating Preferred Equity Deals

Due diligence and underwriting are crucial when evaluating preferred equity deals.

Advice for Investors: look for deals with a significant amount of common equity behind their capital to provide a safety net.

Preferred equity investors should have the ability to cure and take control of the asset if necessary.

 

[13:04 - 20:50] Focusing on Class A Assets in Prime Locations

Why Darin's company focuses on class A assets.

Targeting development projects near the end of construction or lease-up.

Why preferred equity deals are easier to underwrite. 

Reputation is key in the real estate industry.

 

[20:51 - 24:09] Comparing the Current Market to Previous Recessions

Darin’s perspective on the current market. 

Discounted assets VS Distressed assets in the current market.

Opportunities for the next few years. 

 

[24:10 - 32:41] Question Round

Book recommendation: The One Thing by Gary Keller. 

Storytime: saving and preparing for life's unexpected turns. 

Advice for young people starting their financial journey. 

 

Quotes:

 

"I would encourage young people to really focus on who and what you want to be early in your life because what happens in those first 10 years of your life for most everybody will determine what happens the rest of your life." - Darin Davis

 

“Find the one thing that you're good at and just go." - Darin Davis

 

Connect with Darin Davis: 

Website: https://clubcapital.co/

 

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

Please leave a review and help others escape Wall Street and build wealth on Main Street!

SummaryIn this episode, Taylor discusses the book 'Crucial Conversations' and its impact on his personal and business life. He emphasizes the importance of dealing with others effectively and provides tools for navigating crucial conversations. The first tool is recognizing when a conversation is becoming crucial and taking the opportunity to bring down the temperature. The second tool is asking three important questions: what do I want for myself, what do I want for others, and what do I want for the relationship. Taylor concludes by encouraging listeners to practice these tools consistently and pick up a copy of 'Crucial Conversations' for further guidance.

What strategies can real estate investors use to successfully transition from investing in single-family homes to commercial properties?

 

In episode 709, host Taylor Loht sits down with Adam Craig, the founding member of CLE Real Estate Group, to discuss his journey from single-family investing to non-residential commercial real estate. Adam shares valuable insights on how he navigated the challenges of transitioning to office and retail properties, the importance of aggressive marketing, and the advantages of managing commercial properties compared to residential ones. Throughout the conversation, Adam emphasizes the significance of buying right, finding the right tenants, and adapting to market conditions to succeed in the commercial real estate space.

 

[00:00 - 05:53] From Single-Family Homes to Office Buildings

Adam's journey from owning 70 single-family homes to purchasing his first office building

The impact of the pandemic on Adam's first leasing experience

The realization that success in leasing during the pandemic could lead to greater opportunities

 

[05:54 - 10:22] Filling Office Vacancies

Strategies for finding tenants: using Facebook marketing

Offering nice buildings at competitive prices to attract tenants

Raising private money for acquisitions and the importance of building a strong network

 

[10:23 - 15:44] The Art of Buying Right and Adding Value

Focusing on value-add properties 

The range of rehab projects, from simple upgrades to complete renovations

Balancing the intensity of rehab with the potential for increased value

 

[15:45 - 23:09] Diversifying with Retail 

Breaking large spaces into smaller units to attract more tenants

The resilience of smaller retail tenants despite the challenges faced by larger players

The suburban Cleveland market and the differences compared to major metro areas

 

[23:10 - 26:07] Lessons Learned and question round

Recognizing the intensity of single-family investing and considering alternatives

The value of mentorship and learning from experienced investors

The wisdom of slowing down, enjoying life, and spending time with family

 

Quotes:

 

"It takes a lot of work, but when you can turn a $500,000 investment into a $1.5 million investment in a two-year period, it's worth the effort." - Adam Craig 

 

"The good thing about real estate is there's so many avenues you can take." - Adam Craig 

 

Connect with Adam Craig: 

Website: https://www.cleinvest.com/

Instagram: https://www.instagram.com/adamtheinvestor/

 

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

Please leave a review and help others escape Wall Street and build wealth on Main Street!

Zachary Jensen, a tax expert and real estate investor, joins us to talk about tax-advantaged retirement accounts, specifically the IRA and Roth IRA. They discuss the basics of the IRA, including contribution limits and deductions. They also explain the differences between Roth and traditional IRAs, highlighting the tax advantages of the Roth IRA. The conversation then delves into the backdoor Roth IRA strategy for higher income earners and the mega backdoor Roth IRA strategy, which allows for larger contributions. They discuss the tax implications of these strategies and the importance of consulting with a CPA. The episode concludes with book recommendations and advice from Zachary's future self.

 

Join Stessa at www.escapingwallstreet.com

Investing with Taylor at www.investwithtaylor.com