Timing and risk management are everything in real estate. Fortunes are made just by being in the right place at the right time.

How can we measure the pulse of the real estate market? When is the best time to buy? And what are the practices that can help us find good business partners?

In this episode, real estate investor and coach, Brian Trippe, talks about lending and market predictions.

Today's guest is Brian's long-time friend, Kevin Easterly. Currently investing in the West, Kevin and Brian met at a mobile home park boot camp. In today's episode, Kevin shares stories of the good, bad, and ugly sides of real estate. Tune in to hear about the lessons he learned, and how he's succeeding today.

 

Key Takeaways:

 

[2:10] Kevin didn't have the best experience with his first mobile home park. He ended up putting more money into it than he was getting back and it turned into a money pit. He lost about $100,000 in a year on the property once he sold it.

[6:15] After that loss, Kevin started researching and studying multi-family properties; he started going to shows and boot camps to learn more. He also got a mentor — finding someone who knows what they're doing is a great asset to people just getting started in the business.

[9:55] After the mobile home park, Kevin made his way through some single-family flips and four-plexes. He eventually purchased a 57-unit with two other partners; they all went in together and pulled the money.

[11:40] The 57-unit uses the same principles as a four-plex or an eight-plex. You are still responsible for the interiors and the rehab, you just have to watch your numbers. After they found the deal, they got a traditional loan.

[12:50] Kevin talks about the specifics of the loan, and what differs for commercial loans. With commercial loans, a lot of it is based on the building itself. To get the loan you need the down payment (usually a larger percentage down than single-family homes), prior experience, and what your plan for the property is.

[15:28] If you don't have prior experience, you can get someone who has the experience to sponsor the deal. That way your name is on the loan. You usually give the sponsor a percentage of the deal, and they're usually non-recourse — they can't come after your personal assets.

[18:50] Currently, Kevin has 105 units total in Arizona and Nevada. He found one of his bigger complexes through a property manager, which is a great way to find any type of property.

[23:20] Buying local, or close to where you live, is important. If you live close to your properties, it's easier to get there to check on things. You can get to the property and back in a work day, which is convenient for people with families.

[25:40] In addition to his multi-family units, Kevin also has some franchises. Advertising and marketing are essential for real estate, but especially the franchises. For Kevin's current franchise ventures, he could eventually sell and make money on them.

[30:15] Moving forward, Kevin and his team plan on picking up at least 30 more franchises next year. That will hopefully allow them to buy $40 million/year in property.

[31:35] Kevin has a multi-family/franchise Facebook community, where other people share about themselves and Kevin learns how he can provide value.

[34:05] You shouldn't be buying for appreciation; you want to be buying for cash flow. This is especially true in a down market.

[36:00] Kevin is really building his personal brand. A lot of people encounter a block where they don't know how they're going to get to the next level with their goals. You have to tell people what you're doing and what you hope to achieve — the more you spread the word, you never know what kind of opportunities will arise.

[38:50] The idea behind Kevin's Facebook group is that he's going to hold members accountable and make them take action. Being a part of these groups and attending seminars/masterminds is crucial to taking your business to the next level.

[41:20] Pay to be in the right room with the right people — networking is what it's all about! Go to shows, get coaching, and read every day. Those three things are Kevin's keys to success.

 

Mentioned in This Episode:

 

Meetings

Daily REIA Show

Facebook Page

Brian's Book

10X Facebook Group

If you're anything like most people, you probably collect dozens of business cards every time you go to a networking event.

The question becomes: what the heck do I do with all these cards? Do I keep them in drawer? Do I throw them away?

Brian offers some great advice on what to do with these cards.

Follow on instagram: @brianjtrippe

Brian joins Carlos Zamora and Dan Schwartz on the InvestorFuse podcast, "Real Estate Time Freedom Show."

Brian talks about REI LIVE and gives value to aspiring real estate investors.

What is going on with the real estate market in Birmingham, Alabama? Every month, Rob Drum and Brian Trippe give you an inside look into what's going on in one of the nation's best cash-flowing market.

If you are interested in cash-flowing properties, please contact Rob at [email protected].

To subscribe to Rob's blog, go to www.robdrum.us

 

In today's episode, Jacob Salem talks with Brian about authentic marketing and some ways to prioritize your business to focus on marketing. Jacob talks about the current climate for digital marketing, as well as the idea of perception as reality and how we navigate that in our marketing.

 

Key Takeaways:

 

[1:20] Jacob owns a turn-key, done-for-you, digital marketing agency. His company does anything from Facebook ads to email copy, click funnels… anything digital they do. He's built a team of individuals that are really good at certain areas of digital marketing.

[4:20] Jacob was inspired specifically by Ty Lopez to start his digital marketing agency. In his program 67 Steps, Ty encourages people to find money doing what you're good at; Jacob was good at marketing, lead generation, and business. He started building his agency because he's good at it and wanted to make more money.

[6:40] One of the aspects of Jacob's business that he emulates from Gary V are the systems, processes, training, and other things being implemented behind the scenes. These are the things Jacob hopes will help to scale his business.

[9:05] In a lot of businesses, we're doing things that just don't need to be done. The first step is to eliminate these things. For anything that can't be eliminated, automate it. If you can't eliminate, and you can't automate, that's when you start delegating to a team. It's important to hire a team that is smarter than you in certain fields.

[10:30] If you're new to the business, Jacob recommends using Fiverr to outsource some of your tasks. Think about the number one task that you do that you really can't stand, and start delegating (or automating or eliminating) that task. You will have more energy to go do the other things that need to be done.

[13:40] Jacob notes that almost everyone is a digital marketing guru these days. There are a lot of people diving into the digital marketing space, and starting their career with the word "expert." The people who aren't qualified make the people who know what they're doing look bad.

[16:15] Today more than ever, perception is reality. For Jacob, this includes how he dresses in the public eye and what he presents on social media. Everything you put out there represents you.

[19:36] You have to understand who you are and who your client is. Perception is still reality, but you have to think about how you will relate to your client in what you present or how you present yourself.

[22:00] It is possible in real estate to be successful without knowing too many people. You need to be really good at what you do and buy the right properties to accomplish your goal. The average business owner needs to be present on social media so their business can grow.

[23:45] Brian notes that the above is true for real estate investing, but if you are a wholesaler or a property finder, you are a marketer. These people still have to get their message out, and it has to be professional so they can get the attention of their customer.

[26:10] In the social media world, it's everybody's highlight reel. It's not always all sides of their truth, but we want our social media presence to represent the best side of ourselves and our businesses.

[28:20] Real estate has everything to do with marketing. The more you can build yourself and self-promote, the more people will want to do business with you.

[30:20] EZMetrics is a social media marketing agency; they are a lead generation company. They measure their success on whether they deliver quality leads to their clients that lead to sales. They also build websites and email marketing campaigns.

 

Mentioned in This Episode:

Meetings

Daily REIA Show

Facebook Page

Brian's Book

EZMetrics

Fiverr

[email protected]

As you can probably imagine, I get bombarded with DMs on Facebook and Instagram. People are constantly asking me for advice.

Every once in a while I like to reach out to one of them and do a free coaching call.

In this live recorded call, listen in as Brian provides some poignant advice to a new real estate investor.

We have all heard it said to work ON your business instead of IN your business. And this is definitely true for most.

But for those who are first starting out and have inconsistent deal flow, you are spending way too much time on things that are not generating cash.

In the beginning it is all about generating revenue. If you don't know how to make money, then you certainly aren't going to be able to build a sustainable business. All businesses start with CASH.

You have to work in it. Be the practitioner. So you will have money to invest back into your business to start building systems and processes. In the beginning, it's all about CASH!

Follow on instagram: @brianjtrippe

Dan Schwartz, founder of InvestorFuse, joins Brian on the show today to talk about the importance of systems for the automation of your business. InvestorFuse provides systems for real estate investors, but they also discuss how you can begin creating some of these systems for yourself, even if you’re just getting started in real estate.

If you are wholesaling and you only have that one source of revenue, SHAME ON YOU! There are very easy ways to add levels of income to what you are already doing without that much more effort. In this podcast, Brian explains how he treats every wholesale deal as a faucet that he can turn on and produce many different revenue streams.