In this episode, David Friedman shares how his company was able to help customers turn their primary residences into rental properties and how to use what was generated to buy other primary residences. He discusses the obstacles that property owners may have while renting out their home and how he and his company can streamline the process so that property owners may overcome the obstacles more quickly.

[00:01 - 06:06] Starting Knox Financial 

David  shares about his background and his business 

Selling his first home and realizing down the road he could actually rent it out 

Finding Knox as a way for property owners to turn their homes into passive income

 

[06:07 - 10:18] Facilitating the Transaction

Tackling financing by creating a special mortgage 

There should be proof that house will be or has already been rented out

Take over maintenance and rent collection

Looking at the conversation around rate, fees, amortization

 

[10:19 - 21:53] Process of Finding Tenants

Signing a master lease with the owner and subleasing to the tenants 

Having owners of the property on a certainty lease 

Finding the right insurance policy for the owners 

 

[21:54 - 27:19] Closing Segment

Quick break for our sponsors The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at escapingwallstreet.com 

What is the best investment you've ever made other than your education?Starting his last company Boston Logic

David Friedman’s worst investments An IPO stock he purchased 

What is the most important lesson you’ve learned in business and investing?Business and investing are different things but people are more important  

Connect with David Friedman:

Website: https://app.knoxfinancial.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/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

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

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

 

Tweetable Quotes:

“The most important investing thing I've learned is that patience is generally the biggest risk mitigator out there” - David Friedman

In this episode, Tom Dunkel  talks about self storage investing and how it works. He shares how he and his partner got started in real estate and later shifted into self-storage. Tom also shares how he was able to apply the lessons he learned from the book “Who Not How” into their business and help it grow.

[00:01 - 07:11] Looking into Self-Storage Investing  

Tom shares about his background and how he got into self-storage investing 

How to recognize a good deal in self-storage 

The environment dictates the growth or decline of the self-storage market 

Assessing the data given and finding the right aggregators 

 

[07:11 - 11:27] The Future of Self-Storage 

Seeing the demand for self-storage

Many are not analyzing the market and just looking for mailbox money

Using self-storage as a housing strategy 

 

[11:28 - 23:11] Shifting from Multi-Family

Seeing more opportunities in the space 

Finding a business partner during the recession

Applying lessons learned from Who Not How 

 

[23:12 - 30:32] Closing Segment

Quick break for our sponsors The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at escapingwallstreet.com 

What is the best investment you've ever made other than your education?Investing your team

Tom Dunkel’s worst investments The first business she went to where she tried to do everything herself 

What is the most important lesson you’ve learned in business and investing?There’s always another deal out there 

Connect with Tom Dunkel:

Website: https://belrosestoragegroup.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/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

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

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

 

Tweetable Quotes:

“I think it's important to, you know, be disciplined, you know, get educated, you know, look at a lot of deals and eventually, you know, the one will pop out that looks really good to you.” - Tom Dunkel

In this episode, Richard Wilson discusses what family offices and high net worth investors are seeking today, including the types of investments they're seeking, how they view inflation and risk, and where they're placing their wealth to achieve their goals. He also shares the key to becoming a high-net-worth investor, as well as the strategy tool that all high-net-worth investors are using.

[00:01 - 08:16] What to Invest In as a High-Net-Worth investor

Looking at more reduced pricing on real estate

Investments with moderate returns 

Deal structuring so that an investor receives a return based on top-line revenue

Moving away from publicly traded stocks and bonds 

 

[09:29 - 23:04] Diving into Short Term Rentals 

Supply and demand in the short term rental space

Focusing on getting big data and getting in the right locations

Shifting towards higher end vacation type of rentals

Moving away from office space buildings 

 

[24:36- 28:36] Closing Segment

Quick break for our sponsors The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at escapingwallstreet.com 

What is your favourite book?Whatever It Takes by Stephen Schwarzman

 Richard Wilson’s indispensable tool  WhatsApp

What are you looking forward to in 2023?Going to Kathmandu with his wife 

Connect with Richard Wilson:

Email: [email protected]

Phone Number: 3053331155

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

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

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

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

 

Tweetable Quotes:

“And so I think the families realize that real estate can be something that defends against inflation, and the savvy families know that a good team can make money in a market that's going up and they can make money in a market that's going down..” - Richard Wilson

In this episode, Rob Napolitano shares about his experience going through bankruptcy on some of his real estate investments. He discusses how it happened and what went wrong as well as tips so we can avoid his mistakes. Rob also talks about return on time investment on real estate 

[00:01 - 11:25] From Bankruptcy to Successful Investment Manager 

Starting law school and becoming a paralegal 

Filing for a chapter 13 bankruptcy

Learning from past failures and building a business around it 

 

[11:26 - 25:46] Diving into Return on Time

People want lifestyle security

Knowing how the money is going to work and risk it is exposed to in each deal

Building a team and leveraging your time 

Importance of building relationships

 

[25:47 - 32:14] Closing Segment

Quick break for our sponsors The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at escapingwallstreet.com 

What is the best investment you've ever made other than your education?His wife

Rob Napolitano’s worst investments Doing deals with bad people 

What is the most important lesson you’ve learned in business and investing?Some people know how to look at history, only a few know how to make history

Don’t let life pass you by

Connect with Rob Napolitano:

Website: https://www.capturingtomorrow.com/

Email:[email protected]

Social Media: LinkedIn

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

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

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

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

 

Tweetable Quotes:

“But I believe that's one of the best ways, especially for busy professionals. To go and build their nest egg and their personal wealth is doing it passively with people that are really intimate in the business.” -  Rob Napolitano

In this episode, Rich Somers talks about boutique hotel investing. He shares how these types of deals work, what to look for in each deal, how to operate each deal, and so much more. Rich also shares how we can get into the market as well as best practices to be successful in this space.

[00:01 - 06:06] Defining Boutique Hotel Investing 

Rich shares about his background and how he got into real estate

Pivoting from multifamily to boutique hotel space 

Defining boutique hotels as independent non-franchise resort

 

[06:07 - 10:07] Adding Value and Growing the Business

Utilizing online marketing platforms 

Not charging cleaning fees on boutique hotels

Building a team on the ground for each property

 

[10:08 - 25:56] Finding Deals and Investing 

Importance of having good relationships with a broker 

Using a combination of market direct to broker and direct to seller

Having better ROI when investing in this space 

Using seller financing to get a loan 

 

[25:57 - 31:48] Closing Segment

Quick break for our sponsors The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at escapingwallstreet.com 

What is the best investment you've ever made other than your education?A deal he did a 1031 exchange for in Indianapolis 

Rich Somers’s worst investments A deal he did not invest in but still lost money

What is the most important lesson you’ve learned in business and investing?Mindset in taking action

When you have an idea you just have to do it 

Connect with Rich Somers :

Website: https://somerscapital.com/

Social Media: Instagram

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

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

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

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

 

Tweetable Quotes:

“It's just all about taking action as soon as I have that good idea, like, “Hey, let's just  jump in. Let's do it. We'll figure out how later.” And that's what I've seen the most growth, at least in my career.” -  Rich Somers

In this episode, Cynthia Cummins shares her experience as a real estate agent in the San Francisco market, as well as the effects of rising interest rates and market shifts. She also highlights the dynamics and uniqueness of the San Francisco market. Cynthia discusses what realtors should bring to the table for each transaction and the necessity of commitment and motivation for success.

[00:01 - 10:59] Being Successful in the San Francisco market

Cynthia shares about his background and how he got into real estate

You can’t be a part time realtor in the San Francisco market 

Facilitating support to clients and being committed to their fiduciary obligations

Finding buyers and finding properties 

[11:00 - 22:46] Uniqueness of the Market

Showing proof of funds and liquidated stocks to purchase a property 

San Francisco is a high risk market 

Coping with the fast paced market

Paying attention to the basics of real estate training before going into the market 

 

[22:47 - 28:02] Closing Segment

Quick break for our sponsors The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at escapingwallstreet.com 

What is the best investment you've ever made other than your education?Therapy and mindfulness training 

Cynthia Cummins’s worst investments Hand sanitizer kiosk 

What is the most important lesson you’ve learned in business and investing?If it’s hysterical, it’s historical

Connect with Cynthia Cummins:

Website: https://kindredsfhomes.com/, http://realestatetherapy.org/

Social Media: Facebook, Twitter

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

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

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

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

 

Tweetable Quotes:

“It's not a house. First and foremost, it's your home. Next, it's an investment.” -  Cynthia Cummins

In this episode, Sterling Chapman shares the techniques, systems, and tools he has used for flipping real estate and single-family residences in order to fund his apartment building investments. He also discusses what distinguishes him and his flipping as well as lessons related to flipping in real estate.

[00:01 - 04:40] Opening Segment

Sterling shares about his background and how he got into real estate

Started by burring houses and duplexes 

Buying his first apartment syndication project in february 2021

 

[04:41 - 09:04] Flipping Strategies 

Going broke when you first start flipping 

Getting deals from wholesalers in the local market

Building relationships and making sales and house fixes public 

Outsource whenever you can 

 

[09:05 - 16:45] Working with Wholesalers and Scaling Up

Working with people who are willing to do the work 

There is no guarantee of success but he will help 

There are wholesalers who don’t want to share resources 

Started by doing everything himself

 

[16:46 - 22:35] Funding His Own Apartment

Just recently started in house flipping

Investing more to get a bigger return long term 

Flipping is risky

Investing in apartment syndication to mitigate taxes and loss 

 

[22:36 - 27:59] Closing Segment

Quick break for our sponsors The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at escapingwallstreet.com 

What is the best investment you've ever made other than your education?The 2 house flips he sold earlier this year 

Sterling Chapman’s worst investments The first house that he bought 

What is the most important lesson you’ve learned in business and investing?A good business person is not being a shrew negotiator

Connect with Sterling Chapman:

Website: https://crestworthcapital.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/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

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

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

 

Tweetable Quotes:

“I don't think that being a shrew negotiator and squeezing every last dime outta the deal is what makes you a good business person. I think what makes you a good business person is having everybody want to do business with you over and over.” - Sterling Chapman

Greg Gaudet is a Real estate investor at Maui Home Buyers and Business Development Manager at Premier Restoration Hawaii. He is actively rehabbing and flipping properties on Maui in order to rehab distressed properties and create affordable housing for struggling local families. Greg shares an amazing and inspiring story with us about how he went from struggling with addictions to being homeless to deciding to become an investor and having an amazing life in Maui, which is one of the most difficult markets in the world.

 

[00:01 - 15:01] Rising from the Ruins and Living the Life of Your Dreams

Greg shares his negative experiences, including addiction and homelessness

How Greg was able to achieve financial independence and build the life of his dreams

The book Start Late Finish Rich on a mindset shift from earn and spend to save and invest

 

[15:02 - 28:43] Escape Wall Street: Reaching Financial Freedom

Lessons learned and challenges faced on house flipping and being hands-on

Working for 60 years of your life is close to slavery - escape from it

Addressing the need to create financial independence by investing in rental properties

 

[28:44 - 38:09] Closing Segment

A quick break for our sponsors

The first step to growing your wealth is tracking your wealth, income spending, and everything else about your finances. You can start tracking your wealth for free and get six free months of wealth advisor. Learn more about Personal Capital at escapingwallstreet.com 

What is the best investment you've ever made other than your education?

His first single-family house

Greg Gaudet’s worst investments 

A flip that only made $50,000

Focusing on day trade on cryptocurrencies

What is the most important lesson you’ve learned in business and investing?

Remember where your focus is and stay in your lane

 

Connect with Greg Gaudet through Linkedin, their website, and 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/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

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

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

 

Tweetable Quote:

“I finally recovered and was able to build the life of my dreams now through real estate. My dream was to not have to work for somebody else for the rest of my life.” - Greg Gaudet

As a Managing Principal, James is responsible for the development and execution of corporate strategies, marketing, and property acquisitions. James has been actively investing in multifamily and single-family units in the Puget Sound region for over 12 years and has led his team to over 3,000 transactions. His over a decade of experience investing in multi-family and single-family units in the Puget Sound region has guided Heaton Dainard to more than 131 million in sales volume from 265 transactions in 2021. James has received multiple awards and recognition for his role in growing Heaton Dainard into one of Washington’s Fastest Growing Private Companies in 2013, 2014, 2015, and 2016. Puget Sound Business Journal also recognized James as a 40 under 40 honoree.

[00:01 - 13:30] BRRRR Investing: How to Avoid Common Mistakes

 

Doing a BRRRR deal in a bad market from preparation to full implementation

Mitigating the risk of BRRRR deals by providing budgeting and contractor referrals

Buying a property at a discount and adding value to it to increase its value, then refinancing

 

[13:31 - 21:24] Tips for Success in BRRRR Investing

 

Be aware of the bank requirements for financing and seasoning a loan

Understand the repairs that will be necessary to bring the property up to its appraised value

How banks look for signs of over-inflated values or missed opportunities to improve the property

 

[21:25 - 28:45] Closing Segment

 

A quick break for our sponsors

The first step to growing your wealth is tracking your wealth, income spending, and everything else about your finances. You can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at escapingwallstreet.com 

What is the best investment you've ever made other than your education?

His first deal

James Dainard’s worst investments 

A massive short on Tesla stocks

What is the most important lesson you’ve learned in business and investing?

Pick the right partners and relationships

 

Connect with James Dainard through Instagram, BiggerPockets Podcast, YouTube, and https://jamesdainard.com/. 

JamesDainard.com

IntrustFunding.com

HeatonDainard.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/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

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

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

 

Tweetable Quotes:

“You have to understand the construction costs. And if you don't, you really want to make sure you get a home inspection on your property and then try to get a bid from a contractor during that feasibility or inspection timeline because that's going to tell you where your numbers are if you don't already know them.” - James Dainard

“Make sure that your partners or anybody you're working with have the same integrity and have the same core values. And also, they have the same work ethic… Your potential growth is unlimited when you have the right team around you. And the most important person in your team is your partner.” - James Dainard

Happy Thanksgiving! Taylor shares some thoughts and reflections on the Bill Gates quote “Most people overestimate what they can do in one year and underestimate what they can do in ten years.”

7 Red Flags in Passive Real Estate Investing, free video course at www.passiverealestatecourse.com

Want to learn about investing in multifamily & self storage with us? Go to www.investwithtaylor.com