In this episode, Dallon Schultz discusses his journey into real estate investing and how he started one of his most significant real estate investing meetups. He shares the mistakes and lessons he learned from building and running the event and also reveals how he got Robert Kiyosaki to attend one of their events. Additionally, Dallon offers excellent tips on what it takes to run a successful meetup and financial advice on charging for tickets and arranging sponsorships. He also explains why charging for tickets helps attract more experienced people who understand the value of attending such an event. 

 

Tune in to this insightful episode to learn more about how to build a successful real estate meetup from scratch and benefit from Dallon's wise investments!

[00:01 - 07:28] Opening Segment

Dallon Schultz talks about how he built a local real estate investing meetup that became the biggest in his state

The implications of having Robert Kiyosaki as an attendee

 

[07:29 - 15:29] How Rev Used a Meetup to Grow Their Network and Increase Attendee Quality

Dallon invited guest speakers to the event to provide more benefits and exposure

Moving the venue to a more excellent restaurant and charging $10 per ticket

These increased attendance and quality of attendees

 

[15:30 - 24:48] Robert Kiyosaki's Inspiring Visit to a Real Estate Meetup

Dallon shares when Robert Kiyosaki visited one of his events

The meetup was started to provide value and get around people who thought similarly

 

[24:49 - 34:13] Closing Segment

Best investment: development deal that was sold for more than twice the cost in 14 months

Worst investment: house flip that took 4-6 months and broke even

The most important lesson learned: building your network

Quotes:

 

"I prefer live events. Even though I wouldn't consider myself an extrovert, I enjoy networking events and connecting with like-minded people." - Dallon Schultz

 

"If people don't see the value in your events, then they're probably not the ones you want there in the first place." - Dallon Schultz

Connect with Dallon!

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

Website: www.InvestwithRev.com 

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

 

Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.

 

Join our Passive Investor Club to access passive commercial real estate investment opportunities.

 

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Whitney Elkins-Hutten, a successful real estate investor who has transitioned from active to passive investing, discusses car wash investing and how it can be a great asset class for investors. She shares her journey from being an accidental rental property owner to building wealth through rentals and flipping properties. Additionally, she talks about depreciation and paper losses for passive real estate investors and how cash flow can benefit those who invest in car washes. Finally, she touches on topics such as mitigating expenses by updating equipment to save energy and money, using technology to pre-program subscription models, the potential of tax benefits when investing passively in a car wash, and how the market analysis should be done to determine potential supply and demand. 

 

Tune in now to learn more about car wash investing from Whitney Elkins-Hutten!

 

[00:01 - 05:44] Opening Segment

Whitney Elkins-Hutten is a successful real estate investor and a director of Investor Education 

She started in real estate by accident in 2002 when she bought a house with a significant other

She and her husband have 6,500 residential units, 2200 self-storage units, and seven express car washes

 

[05:45 - 11:02] Unlocking the Potential of Car Washes: Cash Flow, Equity, Tax Benefits, and More

There are four different types of car washes that you can invest in DIY cement bay, tunnel wash, flex service wash, and full-service wash

Car washes are becoming more popular as an investment avenue due to tighter markets and rising interest rates

Third-party management is needed for larger private equity groups and IPOs

Cash flow increased through a monthly subscription model

Equity leveraged by increasing income and adding additional streams of income

 

[11:03 - 17:09] Lowering Expenses and Increasing Income Through Technology: A Look at Car Wash Market Analysis

Updating equipment and water reclamation systems to reduce expenses and be more environmentally friendly

Modulating the tunnel for electricity and water usage

Capturing customer information to market upgrade specials, share with family/friends

The tax benefits of investing passively in a carwash

 

[17:10 - 23:10] Water Reclamation Systems and More Efficient Equipment

Cost of water mitigation through efficient equipment

Market analysis criteria such as population growth, income growth, job growth, traffic count, etc

Water allocation to businesses versus residential

 

[23:11 - 28:29] Closing Segment

Best investment: Mindset

Worst investment: not thoroughly vetting an operator

The most important lesson learned: not taking yourself too seriously

Quotes:

 

"Everybody says to start with why." - Whitney Elkins-Hutten

 

"There's multiple oil change places and lube facilities in town. Now with car washes, this is where we think it's fascinating because as the potential moves toward more electric cars, we'll see many of those facilities go away. But guess what? Electric cars still have to be washed." - Whitney Elkins-Hutten

Connect with Whitney!

www.PassiveInvestingwithWhitney.com 

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

 

Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.

 

Join our Passive Investor Club to access passive commercial real estate investment opportunities.

 

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Pete Reese has been in the real estate industry for almost two decades and is now sharing his experience with land flipping. Join us as Pete discusses how he buys properties off-market, adds value, and resells them quickly to double his money after commissions and closing costs. He talks about the advantages of partnering with passive investors who put up money to buy the property and split the profits, as well as the potential opportunities to develop rural properties into solar farms or wind farms with incentives and tax benefits. Pete also shares insights on mistakes he has made in the past, such as keeping a team member who didn't fit in and how consistency is vital for any investor. 

 

Take advantage of this thought-provoking discussion on land flipping!

 

[00:01 - 06:10] Opening Segment

Pete has been in real estate since 2002 and got his broker's license in 2006

Land flipping involves buying properties and holding them for a short amount of time before reselling them

The value is added by finding deals that are not as liquid as other assets, such as single-family homes

 

[06:11 - 14:11] Generating Passive Income Through Land Flipping

Buying properties off-market and reselling them at a price slightly below market

Buying more significant properties and splitting them up into smaller ones to resell individually

Land flipping business is mainly about active income with no benefits or long-term capital gains

Passive investors can partner with land flippers to buy properties and split profits

Gas rights, mineral rights, and timber investments may be involved

 

[14:12 - 24:40] Building a Team for Success in the Land Business

Opportunity to buy rural property, hire engineering firm, and resell it for premium.

Sending out 50,000 letters a month offering to purchase properties

How Pete built out a team of acquisition managers, lead/due diligence managers, property analysts, list managers, asset managers, transaction managers, & executive assistants

Pete's mistakes made in building a team

Real estate experience helps but is not necessary for specific roles

 

[24:41 - 29:35] Closing Segment

Best investment: a 40-acre property sold for 175K after three weeks

Worst investment: not investing in real estate during the 2007 crash

The most important lesson learned: consistency

Quotes:

 

"It's all about consistency for us. It's about making sure. The leads are coming in consistently, and I can control that by sending out the mail. I send out 50,000 letters a month, and it's like clockwork." - Pete Reese

 

"I'm just kind of a big believer in the asset class itself because I feel like, especially in the inflationary environment that we're in, the land is kind of the ultimate asset, and in theory, it should rise in price." - Pete Reese

Connect with Pete!

Website: www.TurningProfit.com 

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

 

Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.

 

Join our Passive Investor Club to access passive commercial real estate investment opportunities.

 

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Taylor shares the #1 lesson that helped him scale his real estate business. This is the lesson that will not only help you get more out of your real estate, but also get more out of life and focus on the things that really matter.

Taylor's implementation of this lesson helped set up 2023 to be his biggest year ever. This lesson helped 2022 beat 2021, and with more big things on the way.

You'll learn:

The key insight that makes this lesson important

How to implement this lesson in your business

The positive impact it'll have on your life

The key that really makes this all so important. Getting the most out of your most scarce asset.

Investing with Taylor: www.investwithtaylor.com

Get our 7 Day Course: www.passiverealestatecourse.com

Join us on this episode as Sean Thomson shares his framework and rubric for best-in-class asset management in multifamily real estate investing. We'll explore the importance of having an asset management plan and how sponsors and passive investors can vet whether or not their sponsors have the right experience and goals. Sean will offer advice on understanding everyone's role, setting objectives, evaluating risks, developing strategies, creating accountability structures with clear lines of communication, and more. He will also explain why mistakes can be hidden in a booming market but become more apparent when the market is not so good. 

 

Tune in to gain valuable insights from Sean on how to create a best-in-class asset management strategy!

 

[00:01 - 06:54] Opening Segment

Sean Thomson started in real estate 12-13 years ago and transitioned from single-family to multifamily

Sean created a framework for best-in-class asset management, what sponsors should do in their asset management plans, and what passive investors can look for

He created a platform for excellent processes and systems for asset management to help those struggling with it

 

[06:55 - 11:55] Uncovering the Secrets of Best-in-Class Asset Management

Asset management is essential for real estate investments, especially when the market isn't perfect

The goal of an asset manager is to optimize the upside and mitigate the downside of an investment

Communication is vital for successful asset management, as well as understanding roles and creating accountability

Third-party asset managers are often called in when things are not going well

 

[11:56 - 16:45] The Difference Between Property Management and Asset Management

How a history of a murder could narrow down the options for buyers

It's essential to have an asset management plan before taking over a property

The mission is your destination, and the vision is the path to get there

Asset management oversees the overall business plan

Property management is essential for successful operations in large multifamily

 

[16:46 - 25:41] Tips for Passive Investors on Asset Management Plans

Lousy property management is often an asset management problem

Owners often put pressure on property management companies to do things that are not in their wheelhouse

Property management needs money, decisions, and guidance from the owner to do their job properly

Vetting the property manager is important to ensure they have a clear plan and accountability

Passive investors should expect regular communication, reports, and updates from their sponsor

 

[25:42 - 31:24] Closing Segment

Best investment: often the ones that are not made

Worst investment: buying a house on a busy street that took a year to sell

The most important lesson learned: the key to being successful is striving to be as good as you can be every day

Quotes:

 

"My daily focus is to be as good as I can be today. And to serve my investors, serve my community, serve my family. That's my goal in life, just in general, is to be as good as I can be." - Sean Thomson

 

"Good market will hide mistakes in asset management." - Sean Thomson

 

"Making good decisions sometimes hurts the investor in the short term, but it's the best long-term decision." - Sean Thomson

Connect with Sean!

Website: www.ThomsonMultifamilyGroup.com 

 

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

 

Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.

Join our Passive Investor Club to access passive commercial real estate investment opportunities.

 

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Join us on this episode as we chat with Ray Heimann, a real estate investor specializing in multi-family properties in the lower middle market. We'll discuss how his investment strategy is based on understanding the market at a block-by-block level, analyzing median income and other factors before buying and renovating properties to add value and package them into portfolios for sale to institutional investors. We'll learn about the two components of investing: value-add through renovations and rolling up portfolios. We'll also explore the difference between local and Wall Street investors, including what they look for in an investment and how Exit Co. bridges the gap between them. 

 

[00:01 - 06:05] Opening Segment

Introducing Ray to the show

Adding value through renovations and packaging them into portfolios for institutional buyers

Economies of scale achieved through group purchasing and using tech

Understanding the different sub-markets by analyzing block by block and neighborhood by neighborhood

The soft side of understanding the market involves walking it, talking to brokers, and being constantly in touch with it

 

[06:06 - 13:28] Understanding Wall Street's Appetite for Real Estate Portfolios

Spend a lot of time in the market to understand it and pick the right submarkets

Target tenants with household incomes of 80-120K per year

Value add through renovations and portfolio exit

Renovations increase value from 100 to 150-170$/sqft

Portfolio exit increases the value to 240-270$/sqft

Exit strategies include Wall Street investors, private equity funds, multi-family offices, international investment funds

 

[13:29 - 19:39] Bridging the Gap Between Wall Street and Main Street Real Estate Investors

Arbitrage between interest rates and yields is key

Exit strategies include bundling properties into portfolios and offering exits across markets with similar themes

Local investors don't think about cash flow the same way as Wall Street investors

The acquisition strategy is 60-70% off the market, reaching out to sellers directly through omnichannel methods

 

[19:40 - 25:59] Investing Wisely: Understanding Assets to Avoid Making Bad Investments

Sweet Spot is a 6-8 unit apartment building, often inherited or not managed well.

Offering deals without broker fees and can transact quickly and off-market

Hitting higher cap rates than ever before due to recession fears

The exit cap rate has not changed much, and we still hit our typical return

 

[25:30 - 31:38] Closing Segment

Best investment: team, apprenticeship, and training them for success

Worst investment: not understanding what was being invested in, overly complex, and getting bit in the rear end by it

The most important lesson learned: finding out what you're good at and what you like and doing that thing and then finding out what you're bad at and what you don't like and filling in the gaps with something or someone

Quotes:

 

"You have to understand it. You have to walk it; you have to talk to brokers. You have to be in touch with that market to get there constantly." - Ray Heimann

Connect with Ray!

Website: www.USATerra.com 

Email: [email protected] 

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

 

Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.

Join our Passive Investor Club to access passive commercial real estate investment opportunities.

 

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

In this episode, Nicole Heasley shares her experience breaking into real estate investing as a house hacker. She shares how she navigated the process with minimal background knowledge, found a reliable agent who helped her pick a suitable property and established boundaries with her tenants. Nicole also reveals vital takeaways from her first investment that enabled her to build passive cash flow in future investments. Discover what it takes to get started with house hacking: finding the right loan program, interviewing potential tenants, and hiring outside help for maintenance. 

 

Learn about Nicole's experience, and gain insights into the essential skills needed to succeed with real estate investing. 

 

[00:01 - 06:45] Opening Segment

Nicole Heasley talks about her experience with house hacking and the key lessons she learned

She wanted to make sure there was enough recreational space for tenants and visitors

Her location was chosen based on job availability and safety considerations

 

[06:46 - 15:41] Buying Your First Houses

Nicole's realtor was very tactful in helping her decide what was best for her

Nicole wanted to cover the mortgage and have a garage space for herself

She covered all utilities herself initially but would split them evenly if she did it again

Interviewed potential roommates and used the RoomieMatch website to find compatible people

 

[15:42 - 21:58] Learning to Be the "Bad Guy" as a Landlord

Throwing in personal questions on the rental application

How Nicole learned how to be the "bad guy" when necessary

Student loans didn't impact the ability to get a mortgage or make a down payment

How Nicole started attending meetups and eventually bought more properties

 

[21:59 - 26:19] Closing Segment

Best investment: time invested in meetups

Worst investment: trading in stocks

The most important lesson learned: not being shy

Quotes:

 

"I did learn how to tell people, 'No, you can't do that,' or 'No, I can't waive this.' That's absolutely a skill." - Nicole Heasley

 

"I don't care what business endeavor you're starting, you always start off undercutting yourself." - Nicole Heasley

Connect with Nicole!

Facebook: https://www.facebook.com/nrheasley 

Email: [email protected] 

 

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

 

Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.

Join our Passive Investor Club to access passive commercial real estate investment opportunities.

 

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Seth Teagle is a former firefighter and paramedic who achieved financial independence through real estate investing after 22 years. He is passionate about creating generational wealth for The Stream Group's investors. He is also well-known in the multifamily real estate industry for educating others with similar backgrounds. 

 

In this episode, Seth shares his inspiring journey of transitioning from a physically demanding career to real estate investing and how his first 50-unit acquisition yielded $1M. He shares his story of getting started in real estate and how he invested in himself, his skills, and his network to close his first 50-unit multifamily deal. From there, he scaled up to operate over $185 million in commercial real estate. 

 

Tune in to gain valuable insights and inspiration for your real estate investment journeys!

 

[00:00 - 07:49] Opening Segment

Seth Teagle is a former firefighter and paramedic who became financially independent through real estate investing

His first deal was a 50-unit multifamily property that he got into after building his network and skills

Seth's journey started when he realized he needed to make more money to support his growing family and met a college roommate who was a successful real estate investor

 

[07:50 - 14:53] From Working for Free to Closing a 50-Unit Apartment Deal

Seth worked for a mentor for 14 months for free to gain knowledge and skills

He took a pay cut and invested in himself to build a resume for future deals

Brought in one investor and accessed home equity line of credit to purchase 50 unit property

Seth had to bring in a hard money lender at the end due to an unexpected increase in the down payment

Different banks' appetites for loans and types of real estate they are interested in

 

[14:54 - 21:18] From Rejection to Success: Overcoming Roadblocks 

Seth shares how he struggled to find a bank to finance their first real estate deal due to a lack of experience and network

The property experienced high vacancy rates and required significant renovations, leading the speaker to raise private capital

Despite working long hours and facing personal risk, Seth completed the project and refinanced with significant equity.

The experience inspired Seth to pursue real estate investing as a career.

Key lessons include pushing beyond comfort zones, being vulnerable, and persevering through challenges

 

[21:19 - 26:33] How Networking and Adding Value Led to a Successful Real Estate Career

Actively listening for opportunities to provide value and fill a role that others couldn't

Recognizing the importance of successful people's time and offering to pay for it

Valuing action takers and giving them specific action steps to take

 

[26:34 - 31:57] Closing Segment

Best investment: Seth's first deal

Worst investment: buying a 40-unit property

The most important lesson learned: hiring A players 

Quotes:

 

"Understand that if they're super successful, their time is valuable." - Seth Teagle

 

"I just had to push myself beyond my comfort zone and know it would hurt. You have to push through that." - Seth Teagle

 

"If somebody gives you a crack in the door, they kind of give you a little bit of glimmer of hope that they'll talk to you, then do everything they say." - Seth Teagle

 

"Hire A players and terminate the C players or not hire them at all." - Seth Teagle

Connect with Seth!

Investing: https://www.thestreamgroups.com 

Mentoring: https://www.thefirehousebros.com 

 

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

 

Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.

Join our Passive Investor Club to access passive commercial real estate investment opportunities.

 

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous

Taylor welcomes Neal Bawa back to dive into the state of the economy, inflation, interest rates, and how the banking crisis is affecting real estate now and in the future. Neal believes that the banking crisis will have extraordinary repercussions for the world and that it has acted as a catalyst for everyone to shine a floodlight on what else in the economy could go wrong. However, he notes that multifamily has the lowest exposure to mid-size banks of all real estate asset classes, making it less vulnerable to this crisis. One key takeaway from this conversation is that data insights are vital to figuring out what's next in hacking real estate. 

 

[00:01 - 12:06] Opening Segment

Introducing Neal to the show

The state of the economy, inflation, interest rates, and the banking crisis' impact on real estate

Government organizations primarily fund multifamily loans

Interest rates may decline, but fewer lenders in the market could offset any benefits

Property quality will determine the impact of interest rate changes and lender pullback

 

[12:06 - 22:50] Significant Discounts and Distress in US Property Markets

Brokers are seeing a lot of cash calls in the industry in April

Discounts of 18-26% are already available in markets like Phoenix and Atlanta

Savvy investors see this as a great time to buy, but 90% of investors are freaked out

Inflation is under control due to significant movement in the labor market

March saw a moderation and weakening, with major industries pulling back and layoffs happening

 

[22:51 - 26:53] Long-term Inflation and Single-Family Housing Markets 

Layoffs are happening in various sectors due to CEOs managing a recession

Inflation is under control in the short term, but the long-term outlook is concerning

The single-family market has performed outstandingly well despite predictions of a decline

Debt fixed rates have prevented distress in the single-family market, while the multifamily market struggles with floating debt

 

[26:54 - 30:17] Closing Segment

What is one thing we are not discussing that we should be?Long term inflation

Connect with Neal through the links below

Quote/s:

 

"Nobody anywhere on this planet, including all the federal reserves banks put together, can put the long-term inflation genie back in the bottle." - Neal Bawa

Connect with Neal!

Website: www.MultifamilyU.com 

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

 

Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.

Join our Passive Investor Club to access passive commercial real estate investment opportunities.

 

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.

Fred Moskowitz, a note investing expert, discusses the tax liability associated with note investing and how it differs from real estate investing. He shares his insights on navigating these unique tax implications and maximizing your returns. Fred compares and contrasts the note investing space during the great recession to today's rising interest rates and other conditions. He provides valuable insights on how investors can adapt their strategies in different market conditions. 

 

Fred also shares how he financed his first few note deals through profits from real estate investments. He emphasizes that while investing in notes can be capital intensive, starting with buying a couple of notes on your own is possible. As you gain experience and expertise, transaction sizes can increase.

 

This episode is packed with valuable insights and actionable advice for anyone interested in note investing. Tune in now to learn more!

 

[00:01 - 08:26] Opening Segment

Guest Fred Moskowitz discusses note investing and becoming the bank by investing in debt.

Fred compares note investing conditions post-recession to today's rising interest rates.

Note investing provides stable and predictable cash flow, making it an appealing investment opportunity

 

[08:27 - 16:52] How to Start Small and Grow into Larger Transactions with Self-Directed Retirement Accounts

Note investing can be capital-intensive, but starting small is possible

Buying larger pools of notes allows for better discounts and access to deals

Self-directed retirement accounts are a powerful strategy for note investing

Notes generate a tax liability, making self-directed retirement accounts even more beneficial

Investing in debt through self-directed retirement accounts does not incur certain taxes

 

[16:54 - 25:03] Insights on Larger Transactions, Rising Interest Rates, and Preferred Note Types

Larger transactions mean buying more notes at once

Notes are available in all sizes from $5,000 to millions

Transaction size gives more options and flexibility

Interest rates impact pricing, but supply and demand are the main factor

Non-performing note investing has higher risk but the potential for greater returns

 

[25:04 - 34:23] Closing Segment

Best investment: an opportunity to invest in a local community bank 

Worst investment: buying some notes

The most important lesson learned: investing in yourself

Quotes:

 

"I came to the realization that I needed to have other sources of income so I wouldn't be so dependent on the paycheck for my job." - Fred Moskowitz

 

"The best thing that we can do as investors is to be nimble." - Fred Moskowitz

Connect with Fred!

Book: The Little Green Book of Node Investing

Website: https://www.fredmoskowitz.com 

Phone: 2154614433

 

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

 

Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.

 

Join our Passive Investor Club to access passive commercial real estate investment opportunities.

 

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.