Ty "Flip Man" Taylor delivers a keynote at June's REI LIVE meeting in Birmingham. A Birmingham native, Ty shares his story on how he got started wholesaling and how he blew up into an international YouTube celebrity with his dynamic and personable how-to videos.

In today's episode, Brian hosts guest George Hegamin, a Superbowl champion with the Dallas Cowboys in 1996. In addition to talking a lot of sports, they talk about leadership, connections, and relationships. George talks about his mindset growing up, and how this helped shape his success with the Dallas Cowboys. So many of the ideas and concepts they talk about can be applied to real estate and finding success when you're first getting started or looking for a way to recharge your business. 

Key Takeaways:

[3:25] Before George and Brian met, George had already gone through a transitional period. As he moved toward what he was called to do in this world, he realigned himself. He currently serves as an academic liaison and football coach at IMG Academy. He realized that once you figure out how you can make the most impact, that's when you're really making movements.

[7:25] There are many brand new people trying to get started in real estate, and the number one mistake is that they try to make it all about real estate. It needs to be about mindset first.

[10:10] George and Brian talk about dynasty teams, and what sets them apart from other teams. They get to be dynasty teams because they are consistently doing the right things to grow and develop.

[13:30] When George was a kid, he always knew he was going to be the next Charles Barkley. This mindset was his one way out of the social strata in which he grew up. He didn't grow up playing football, but once he started playing as a junior in high school, he really skyrocketed and knew he would go pro.

[20:35] George was on the radar for several schools because of his athleticism. He ended up going to North Carolina State because being there made him feel like he was going to be more than just a football player. He wants to encourage kids to make decisions that are going to have a long-lasting effect, beyond maybe just a few years.

[22:35] In real estate, as you're going on appointments, it's important to develop a rapport with interested buyers because they could choose you or your offer over someone else's. Establishing rapport is the one thing all real estate investors have to do.

[27:35] When working with students, George tries to make sure he remains transparent all the time. Now that we have social media, kids today can go open their phones and see a perfect picture of someone's life, but it may not be authentic.

[32:00] George encourages people to focus on the "and" — many people are not just one thing, not just a student or just an athlete. When you focus on the "and," you can focus on building relationships, developing rapport, and building character. It has to be something that you care about more than just what it does for you.

[36:40] The relationships you develop on your journey are incredibly important. It's about what you take from those relationships, and how you add those things to the relationships you make going forward.

[40:35] When talking about some of the great athletes, George notes that there is something different about how they approach their 24 hours. They plan the plan; they notice what works for other successful people and use that to create their plan. This is what George is hoping to teach the students at IMG Academy.

[42:30] Another important element they try to stress at IMG is managing and taking control of your time. This is crucial for people getting started in real estate so you have a plan to make sure you cover all your bases.

[46:15] Relationships, or networking if you're in business, are maybe the second most important aspect of success. George stresses the importance of the reciprocity of relationships; when you have to ask questions, you have to be willing to work for that answer. It's important that relationships go both ways.

[49:00] You have to be willing to serve — that is where you learn everything. When you're getting started in real estate or any business, you need to get down in the dirt and figure out how things work. Find someone who is successful in the field you are in, help them do what they do, and use what you learn from them in your own business.

[54:15] Real estate is a relationship business, just like any other business. If you don't get that right, it's going to be very difficult for you to get anything else right.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

IMG Academy

Today's guest is Aaron Chapman, owner of a large mortgage brokerage based out of Phoenix, AZ. In today's episode, Aaron and Brian are talking about inflation and the true value of the dollar. Aaron shares where the true value of real estate is, and how investors are benefitting from the pace of inflation compared to their spending on fixed loans.

Key Takeaways:

[2:00] Today's guest is the owner of a large mortgage brokerage in Phoenix, AZ. Aaron's company does loans for several large turnkey companies and is the unconventional conventional mortgage guy.

[5:40] Aaron is getting ready to launch a YouTube show where the outdoor channel meets the business channel. He hopes to launch it in the next couple of months.

[8:20] The content will be the same type of content he's giving his clients every day. Where is the property really valuable? It's not all in the buy, the interest rate, or the cash flow — Aaron says that the real value is in the leverage. His show will allow him to distribute this information to a wider audience more efficiently.

[9:45] Right now Aaron is promoting his business, which is financing loans, houses, and investors. The nugget he wants people to walk away with is to take the time to really think through and understand what you're getting into. Look into what the real value is, not just what you see in the media.

[10:55] When you step into the world of buying real estate, specifically as an investor, you're the CEO of your business. If you're not getting the outcome you want out of your business, you're responsible. If you can take ownership, it's amazing how things fall into place.

[14:45] Aaron is an unconventional conventional loan guy. He does conventional loans, but he tries to get his clients out of the box. Conventional loans typically come from someone's investment capital, and banks take the money out and lend it to investors. The people who contribute their money get a portion of the interest charge as their return on investment. There are rules that govern these loans.

[17:10] Banks often put some of these rules in place to reduce their risk on the investment. What they don't realize is that having the longest-term, fixed loan you can get has the greatest value of any deal. The investors pay their loans because it's something other people are paying for.

[20:20] The people who were hit hardest by the market crash in 2008 were the people who were over-leveraging. As an example, Aaron talks about the movie The Big Short. In the movie, over-leveraging happened when people were using cash to pay on empty houses with money they pulled from other properties.

[23:50] These days, people are paying/charging significant rent for small spaces because there's not enough housing. Building hasn't expanded at the same rate as the population and the demand for housing is much higher than it was before the market crash.

[25:45] Inflation is one of the most important things to consider as a real estate investor. The core inflation rate is 2%, but this doesn't consider energy costs, food costs, or taxes. When those things are added back in, the actual rate of inflation is about 5.5%. This benefits the real estate investor because they can raise the rates for rent.

[29:00] If the average rates for rent go up 3%, this will deliver a big increase in your cash flow, which will compound each year. While investors can raise rents to pace inflation, with a fixed loan, you'll be paying the same dollar amount while you raise your income and keep the spread.

[32:35] Aaron shares some statistics about the value of the dollar today compared to the value of the dollar in 1932. Considering the pace of the dollar and increased income to a renter, it doesn't necessarily make sense to accelerate your loan payments. It makes the most sense to put the least amount down you can and stretch it as far as you can.

[35:00] Many people are predicting that we are at the height of the market right now. Many real estate investors are making smarter investments now than they were pre-2008; if you have assets that will reasonably remain rented, you will likely be able to adapt during the next market shift.

[37:00] Another way to be prepared for when and if the market crashes is to put the money you don't need into a reserve each month. If you don't need it, don't use it.

[38:45] Many investors get into real estate for retirement, but Aaron is using his real estate career to fuel his life day-to-day. He enjoys sharing his content and knowledge with others; he speaks on podcasts and has started writing books.

[45:45] Aaron knew he was the unconventional loan guy back in 2014. Once his friends offered to help him boost his business, but he would've had to conform to their standards. Aaron realized that he was unwilling to compromise himself, and as he went through he was able to discover how he wanted to do things.

[49:10] Authenticity works both ways. We have to be authentic in our business with our clients, but we also have to be authentic to ourselves. When Aaron decided to be authentic to himself, that's when he noticed his business really started thriving.

[52:15] To reach Aaron, visit the website linked below. If you're interested in doing business, you can do it all through the website.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

Aaron's Website

Aaron Chapman Keynote

Shadow Stats

While everyone knows networking is important, few people actually know how to do it. How can you approach networking effectively? Why is it so important to know what your unique value is?

On this episode, real estate entrepreneur and author, Brian Trippe, shares how he started networking effectively and the difference it's made in his business.

If you want more money, deals, and income, you need to learn how to network. -Chris Naugle

Three Things We Learned

Stick with old-school principles

We've all heard sayings about giving something to get something. The reason these phrases have stood the test of time is because they're still true to this day. When networking, lead with value. Go into interactions with the intention to give value of some kind. Your actions will be rewarded if you use this approach without expecting anything in return.

Change your mindset

Negativity is the main thing holding most of us back. Change your mindset and make yourself believe you have what it takes to be successful. Until you change your mindset, you won't be able to progress.

Get the "old guard" on board

When you're starting out in a new industry, it's a good idea to approach those who have been successful in the business for a while. Study them, and find out what they're about and what they need. They have the power to influence others in the industry, so leave a good impression.

Networking is vital. If done correctly, it has the power to help your business skyrocket. Lead with value, make connections, and enter with no expectation of reward. Know yourself and what you can bring to the table. Remember: you're capable of delivering. Tell yourself you can, and start taking action.

Discover the latest trends in the Birmingham real estate market with our expert analyst Rob Drum of 205 Realty.

Rob is not only a realtor but an active investor in the Birmingham market. If you would like to learn more about the data analysis behind some of his investing decisions, check out his blog at www.robdrum.us

The CEO of Lifeonaire joins Brian on the show today to talk about how Lifeonaire helps create a work-life balance that provides financial and lifestyle wealth. Jason Wojciechowski ("Wojo") shares his story of going from someone who put work first, to someone who understands the value of creating a balance that prioritizes life first and business second. He shares about the Lifeonaire program, as well as some things listeners can do to help make the shift into a healthier life.

Book review of Dr. Robert Cialdini's Influence: The Psychology of Persuasion

Get the book here.

Ray Gonzalez and Christy Risco are a couple based out of Miami, FL, who have taken on this real estate business together. They recently launched a podcast that talks about working with your partner in real estate. In today's episode of REI Live, they talk about some of the important things to note about working with your partner. This is a great episode that addresses topics of business with a partner, but also apply to showing up in life with your partner.

Key Takeaways:

[1:30] Christy & Ray are based out of Miami, FL. Over the last fourteen years, they've been in real estate not only learning about the business but also learning how to work together. They recently launched a podcast called "Both on Board," that talks about how couples can make it together in the business and use it to strengthen their relationship.

[4:05] One of the biggest things that make their team work is that their values line up. What often happens is that one partner in the relationship is out doing the work, and the couple hasn't identified what the aim of all of those hours is.

[5:50] When working as a team, communication and personal development are key. You have to take ownership of how you are showing up in the relationship, and then make sure you are communicating with your partner.

[8:30] Christy shares some things that you can do to work on that personal development. The first thing is when there is something bothering her, she doesn't go to Ray right away. She identifies her own awareness first to see what's really bothering her, rather than attacking the other person.

[11:00] Defining and getting clarity about what the relationship is about is an important step in communication. If you find out that your values and your partner's values don't align, take a step back to evaluate how you are showing up to the relationship. It's so much about how you show up to the conversation. This opens the lines of communication to how you may be able to compromise.

[16:00] Though it's easy to want to change the other person in the relationship, the only person we can really change is ourselves. If we work on changing ourselves, we may be able to influence our partner in the relationship. Your partner shouldn't be someone to change, but rather someone you can learn and grow with.

[19:30] Their podcast is incredibly important to be able to hear the women's perspective in a career field that is generally dominated by males. Though there have been several mentions of self-reflection and awareness, at some point you have to make sure you are bringing it back to your partner. Then you can work together to get on the same page, as well as catering to each person's strengths.

[23:15] Relationships and finances are some of the most taboo subjects. There is magic in aligning your values so you can encourage growth in your partner. What you want to work toward are integration and balance.

[25:25] Down the road, they would love to do retreats and seminars on the same topics they cover in their podcast. A big, big vision for them is to eradicate divorce, and while covering topics on real estate, they address some of the larger topics that address how couples can communicate and meet each other to grow together.

[28:10] Ray and Christy talk about one of their favorite moments on the podcast, where Ray fought to buy some almond butter. The lesson in this story is to go after what you want. Then when you do come together, there's so much more potential in both of you coming together.

[31:40] This has been a work in progress for Ray and Christy, and the concepts they talk about may be a challenge at first. Don't compare yourself to others, and focus on getting better in the areas you want to get better at.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

Both on Board Podcast

Both on Board Website

Today's guest hails from right here in Birmingham! Chris Donaldson is a long-time real estate investor and brings his years of experience to today's episode. During his career from pre-2008 to now, he's made a shift from residential investing to commercial investments. It today's episode, he shares his success story of how his investment helped revitalize the area of Avondale, and what he's working on now is to do something similar in Trussville. He shares some of the lessons he's learned along the way as well as some advice for new investors.

Key Takeaways:

[1:10] Chris has been a lifelong entrepreneur; he started in residential real estate and has shifted to primarily commercial real estate and land. Before he got into real estate, he was working at a Fortune 500 company, and his boss actually encouraged him to take the real estate opportunity.

[4:05] Chris has been investing since before 2008, and of course, continues to invest today. Pre-2008, the company he worked for was highly successful, with foreign investors interested in their properties in Birmingham. When the market crashed, their buyer pool was wiped out.

[5:45] Chris was personally burned by the market crash, but not enough to leave real estate completely. Things turned around in 2010 when he met his business partner. He and Coby bought an old fire station in Avondale and focused on revitalizing the neighborhood, starting with a brewery in the old fire station.

[8:40] The area they were trying to develop was not a great part of town so many of their initial investments were very affordable. The situation almost seems too good to be true, but with the team, they were really able to turn things around in the Avondale area. This may not be realistic for all investors, but dream big!

[11:30] Part of the success of the brewery was the story behind it, as well as the marketing. The marketing and the brand are so important, they provide a reason for other people to like your project and play to what people want.

[15:00] They got out of the Avondale brewery when a competitor made them an offer they couldn't refuse. It remains one of Chris's best investments to date. He has taken that money and turned to investing in Trussville, and revitalizing the downtown area like they were able to do in Avondale.

[18:10] Some of the challenges they've run into trying this revitalization in Trussville is that it is a religious city, and the brewery has been a bit controversial. They've had to convince people that it will create new business and be a good thing for the whole downtown area.

[21:20] Chris's personal evolution from residential real estate through the recession to successful commercial investments is something any investor can be inspired by. He's always had an internal drive to create a living that was personally and financially fulfilling.

[24:50] After entering back into the real estate world, Chris sees himself mentoring new investors and continuing to help other people in the ways that he can. His advice for new investors would be to fill yourself with information, read books, and be persistent! You have to love what you're doing, you have to see the big goal, and you have to think big. Believe in yourself and learn all you can learn.

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Bookvv

Brayand Ponciano (BP) joins Brian on the show today to offer some perspective on how he got started in the real estate business. BP shares his personal experience of how he was able to shape his future despite his circumstances growing up and starting out in real estate investing. He talks about his decision to transition from wholesaling to multi-family investing and notes and also shares information about the process of manifestation. This focuses on thoughts and feelings being the source of our actions, and how we can apply that to real estate investing.

Key Takeaways:

[2:10] Brian is a father, philanthropist, and businessman. He grew up in the ghetto of LA, and when his family moved to Phoenix, he got a fresh start on his future. It allowed him to see other experiences of what life could be like for him. He was always drawn to real estate, and started in wholesaling and continued moving up. His current projects include multi-family investing and notes.

[6:05] Though BP grew up poor, he was fortunate to have both his parents in his household that wanted the best for him.  His dad was a positive male role model for him, and this allowed him to gain some perspective on his home situation.

[12:15] The reality of what BP's situation could have been is a big factor in how he lives his 'now.' As kids, we don't have control over our circumstances. Though he did have a positive male role model, not all of his friends had that. Now that BP is a dad, he has made a choice to be a positive male figure in his kids' lives.

[19:00] BP and Brian were able to avoid letting their situation turn into a negative one, but not everyone knows that they can get out. If you grew up without a father figure, know that it has nothing to do with you. You get to make a choice about whether you will dwell on it, or whether you will find someone else you can look up to. If you see someone out there who is doing what you want to be doing, reach out to them.

[22:25] If you were in a similar situation and got out of it, you can help others by being the best version of yourself that you can be, and be open it about it so other people can learn from your experience.

[26:50] BP has become an expert in creating cash flow for himself and for his investors. BP made the shift from wholesaling (which is transactional) into options that would create cash flow and passive income, so he could have more time to spend with his family.

[31:20] BP also has a focus on notes, and this could be a good strategy for today's market cycle and where it's headed. With notes, you can create cash flow without dealing with the headaches of single-family or multi-family investing. Notes allow you to create passive income without being too involved in the day-to-day.

[35:15] BP uses the model that previous guest Dan Zitfosky uses: he makes the notes, then sells the notes and becomes the bank in the middle. Dan found that he could sell these properties to investors, which exempts the properties from the Dodd-Frank legislation.

[37:55] In addition to his cash flow models, BP is also an expert in mindset. The process of manifestation states that your thoughts create your feelings, your feelings create your actions, and your actions will eventually create results. We are trained to think about our actions, but if we trace the process back to our thoughts, it can ultimately change our actions. Successful people have a different mindset.

[42:40] If you think about something you want to achieve, you will make your actions be whatever it takes to achieve that. This can be to your benefit or to your detriment. As we trace the process back, the source of our thoughts comes from how we are programmed.

[46:20] When you start thinking about why you want to be a real estate investor, why it's important for you to create cash flow, and why you want to work the least amount — you'll learn that it's more about your time, energy, family, and happiness, way more than it is about the money.

[49:30] We have to be very mindful of our thoughts, especially when things don't go right. The further you move up in your career, the bigger your problems are going to be.

To get in touch with BP:

Instagram: @cashflowcreator

AZ Flip Guys

Mentioned in This Episode:

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

Dan's Episode

Scott's Episode

Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth, by T. Harv Eker