Real Estate Investing with RealDealCrew

Welcome back to the REI Mastermind Network! In this episode, we have an incredible guest joining us, Deji Hambolu. With a background in enterprise and a transition into real estate, Deji has an impressive story to share. Juggling a part-time real estate venture while working at Coca Cola, they were able to educate themselves and search for properties during their "5 to 9." Leveraging their experience as a project manager in the corporate world, Deji excels in communication and team engagement skills.

We dive into their interest in the Atlanta and Texas markets, particularly Dallas and Houston, which share similarities in immigration and limited housing availability. These areas have high production and demand, especially for affordable housing. Deji is on the lookout for value-add deals, specifically "lift fix flips" that don't require extensive renovation. They share their strategies for finding properties and forming partnerships, utilizing social media and word-of-mouth.

But it doesn't stop there. Deji's mission is to help others succeed in real estate investing. They have already helped 57 people this year, assisting them in acquiring their first or next investment property. They focus on educating individuals on setting up LLCs correctly, developing the right business structure, and improving credit scores.

Join us as Deji shares their unconventional journey in real estate and the importance of choosing the right people to work with. We discuss due diligence for property managers and the impact of conflicts of interest. Plus, Deji reveals their unique approach to help anyone overcome credit hurdles and achieve their real estate goals. You won't want to miss this enlightening episode. Let's dive in!

Connect with Deji Hambolu: https://dejihambolu.com/

Background and Real Estate Journey

• Transition from enterprise to real estate
• Part-time real estate while working at Coca Cola
• Focused on real estate during 5 to 9
• Project management skills from corporate world

Interest in Atlanta and Texas Markets

• Atlanta oil foundation market
• Growing interest in Dallas and Houston
• Similarities to Atlanta in terms of immigration and limited housing availability
• High production and demand, especially for affordable housing

Value-Add Deals and Renovation Tasks

• Focus on value-add deals in real estate
• Interest in "lift fix flips" that require minimal renovation
• Preferred occupancy rate of 60% to 80%
• Specific renovation tasks (painting, updating flooring, cabinets, light fixtures)

Finding Investment Opportunities and Partnerships

• Using social media and word-of-mouth to find opportunities
• Active on Instagram and TikTok
• People reach out for investment opportunities or to learn about investing
• Exploring partnerships and the process of finding them

Helping Others and Education

• Goal to help 80 people, already helped 57
• Assisting with accessing investment properties
• Teaching about setting up LLCs correctly and establishing trusts
• Building a strong foundation for growing and creating a portfolio
• Educating people with bad credit to improve their scores

Choosing the Right People to Work With

• Importance of selecting the right people for success
• Referrals and references as a starting point
• Recommending those with a high-quality product or good business
• Consider experience and proven track record
• Due diligence in asking the right questions and checking licenses

Property Management and Conflicts of Interest

• Due diligence on property managers before choosing one
• Checking their current portfolio and potential conflicts of interest
• Property managers prioritizing their own properties over clients'
• Suggestion of conflicts of interest for property managers who own properties

Deji Hambolu's Website and Credit Improvement

• Recommendation to visit Deji Hambolu's website
• Recognizing credit scores as a hurdle for property purchase
• Helping people improve their credit to expand opportunities
• Good credit for better lending, funding, and loan options

Considerations for Property Purchase

• Considering duplexes as single family opportunities
• Different strategies for single family, duplexes, and triplexes
• Single family properties as majority choice due to financing options

Unconventional Approach to Real Estate

• Not being orthodox or conventional
• Real estate playing a big role in the speaker's life
• Transition into real estate with a leap of faith
• Following an unconventional path instead of waiting for a specific plan

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SUPPORT THE SHOW!

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Stewart Heath is a driven and ambitious individual who has always operated at an accelerated pace. His journey in real estate began in 2000 when he started with just one duplex rental property. Within a remarkably short span of 6 to 9 months, Stewart had already acquired 14 duplexes. Fueled by his rapid success, he transitioned into building houses, with some designed for renting out and others for selling.

As his experience grew, Stewart ventured into renovating condominiums, and his business expanded rapidly. However, during this process of managing various projects, he realized that residential housing did not align with his interests and aspirations. Nevertheless, he remained open to exploring multifamily deals and has yet to syndicate one.

Stewart Heath exemplifies a dynamic and entrepreneurial spirit, constantly seeking new opportunities and challenges within the real estate industry. Despite his preference for non-residential ventures, his success is a testament to his drive and ability to adapt to different market demands.

Connect with Stewart Heath: https://harvardgracecapital.com/

Real estate investment strategies

• Investing in cash flowing properties
• Comparing development deals and fix and flips to cash flowing properties
• The importance of underwriting in any economic climate
• Focusing on a specific asset class in real estate
• The broken property management model and alternatives
• Tax benefits and potential appreciation in real estate investments

Leasing and management of commercial properties

• Success in leasing office space
• Movement of tenants and the impact on leases
• Taxes for essential workers and training office
• Shorter lease terms during commercial renewals
• Focus on niche storage and remote management

Selecting locations and investment opportunities

• Thriving economy of Huntsville and its impact on small towns
• Potential markets like Pulaski and Fayetteville
• Importance of understanding local real estate conditions

Management of storage facilities

• Software options for storage management
• Online features for tenants, including reservations and payments
• Not requiring on-site management

Comparing current economic flux to the 2008 downturn

• Stuart's thoughts on the current economic climate and similarities to 2008
• Stuart's experience during the 2008 downturn and lessons learned

Risk management and passive investing in real estate

• Dealing with stabilized properties and locked-in leases
• Fixed interest rates and controlling expenses
• Learning from past mistakes to avoid pitfalls
• Investing passively as an alternative to active investing
• Real estate as a stable investment option with cash flow and capital gains

Tax benefits and returns in real estate investment

• Benefits of investing in real estate over the stock market
• Tax benefits, including bonus depreciation and cost segregation study
• Cash on cash returns for investors
• Structuring leases to avoid frequent selling and turnover

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SUPPORT THE SHOW!

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Welcome back to the REI Mastermind Network! In this episode, we have the pleasure of welcoming Dustin Serviss to our show. Dustin is a wealth manager who has a fascinating journey from civil engineering to the world of finance. With a strong emphasis on continuous learning and improvement, Dustin shares his insights on investing, building a thriving business, and creating a life of financial abundance.

Dustin's extensive background in various mastermind groups has allowed him to surround himself with like-minded individuals who share his passion for working with money and seeking new financial opportunities. He emphasizes the importance of good practice and consistency in approaching wealth management and how it has contributed to his success.

We dive into Dustin's realization about the value of credentials and how they positioned him to add significant value to his partners in acquiring high net worth clients. Through his experiences, he reveals the concept of the "bare ass minimum" (BAM) and the importance of examining our expenses and financial habits to attain a more intentional and fulfilling life.

Pulling from personal experiences, Dustin discusses his journey in real estate, the impact of beliefs and mindset on wealth creation, and the importance of risk management in financial planning. His unique insights shed light on various strategies that can help individuals optimize their finances and live a more prosperous life.

Join us in this enriching conversation as Dustin shares invaluable wisdom and practical advice to help you navigate the realms of wealth management and set a solid foundation for your financial future. Stay tuned for an episode filled with strategies, insights, and inspiration on the REI Mastermind Network!

Connect with Dustin Serviss: https://servisswealth.com/

Introduction to the New Wealth Mindset

• Definition of the new wealth mindset
• How experiences and beliefs shape our wealth mindset
• Influence of parents, people in our lives, and books on our beliefs

How Beliefs Shape Financial Behavior

• Personal belief about hard work and saving money leading to success and happiness in retirement
• Influence of the speaker's father's hard work on their belief system
• Natural inclination towards trying new things and self-improvement

Journey to Wealth Management

• Studying civil engineering while trading stocks during the day
• Transitioning to a career in wealth management
• Experimenting with personal money before investing client money or venturing into real estate

Importance of Community and Mastermind Groups

• Being part of mastermind groups with like-minded individuals interested in dealing with money and financial vehicles
• Finding support, guidance, and accountability within the community
• Sharing knowledge and experiences with others in the field

The Accumulation Zone and Risk Management

• Opportunities in the accumulation zone and the need for quick action
• Risk management for quicker offense instead of defense
• Managing risks in the accumulation zone for financial stability and mental health

Understanding and Analyzing Expenses

• Introduction to the BAM (Bare Ass Minimum) concept for essential expenses
• Overcoming fear or reluctance in examining personal expenses
• Reviewing and highlighting recurring expenses on monthly statements

Aligning Spending with Goals and Values

• Importance of considering how spending habits contribute to specific goals
• Using personal examples to demonstrate how spending aligns with winter activities and personal enjoyment
• Evaluating spending habits for better alignment with goals and values

Creating an Environment for Growth and Progress

• Importance of setting aside time for personal and professional growth
• Blocking out time to focus on the rFactor question
• Identifying what needs to happen in the next 12 months for personal and professional satisfaction

Real Estate and Downside Protection

• Real estate as a stress point for some individuals
• Building houses for downside protection and value creation
• Cost considerations and potential benefits of investing in real estate

Avoiding Financial Struggles and Mental Illness

• Balancing hard work, reinvestment, and experiencing life
• Intentionally building a plan for better outcomes
• Creating a visual plan for spending, saving, and maintaining financial stability

Risk Management in Financial Planning

• Understanding the flow of money in financial planning
• Considering potential risks and their impact on financial goals
• Importance of risk management to ensure long-term financial stability

Building Wealth through Rental Real Estate

• Focusing on rental real estate as a significant investment opportunity
• Exploring options like apartments, duplexes, and larger real estate purchases
• Discussing the need for assistance from the universe or finding partners

Gaining Value from Education and Expertise

• Addiction to acquiring credentials for stability
• Leveraging extensive learning to add value to partners' business
• Benefiting from a partnership that combines specific skills and expertise

Open and Honest Financial Discussions with Partners

• Importance of open and honest conversations about finances
• Spousal influence awareness and discussing finances in a good state of mind
• Creating a comfortable space for financial discussions with partners

Achieving Wealth and Happiness

• Taking proactive steps towards financial stability and happiness
• Prioritizing relationships and personal enjoyment
• Balancing financial goals with personal fulfillment

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SUPPORT THE SHOW!

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Bob Diamond is a seasoned investor who has witnessed the ups and downs of the real estate market firsthand. He first realized the unpredictable nature of prices when he wasn't yet involved in the industry. However, it was during the 2008 crisis that Bob truly understood the extent to which prices can plummet. Learning from this experience, he adopted a strategy favored by investors: waiting for prices to hit rock bottom before making any purchases. Bob firmly believes in not catching falling knives and emphasizes the importance of allowing prices to stabilize before making any investment decisions.

In addition to his observations on market fluctuations, Bob also discovered that tumultuous times present the best opportunities for savvy investors. After witnessing the aftermath of the crisis, he was amazed by the abundance of lucrative prospects that emerged. This realization motivated Bob to urge others to accumulate cash in preparation for seizing these golden opportunities when the timing is right.

Bob Diamond's story is one of resilience and a deep understanding of the real estate market. His experiences have shaped his investment approach, emphasizing caution during market downturns and anticipating the extraordinary potential that follows. With Bob's wisdom and expertise, many aspiring investors can navigate the unpredictable world of real estate with confidence.

Connect with Bob Diamond: theriseofoveragestoday.com

Investing in Real Estate and Making Profit

• Paying $130,000 for a property would result in a break-even situation after making adjustments for taxes.
• Paying $175,000 for a property would not be a good deal.
• In 2009, the speaker was able to purchase properties in Las Vegas for $80,000 each, including the cost of repairs.
• These properties were rented out for $1,300 each.
• The speaker was able to easily find and make offers on multiple properties, with a high success rate in getting accepted offers.
• The speaker advises listeners to gather cash and have "dry powder" ready to take advantage of the market when others are out of cash.
• Monitoring the days on market (DOM) statistic and the differential between listing price and selling price can provide insights into the state of the market.
• The speaker has made a lot of money in the past by taking advantage of declining prices and buying properties when banks dump them.
• They believe that a similar opportunity will arise in the future, but the exact timing and location are unknown.
• The speaker recommends accumulating cash and preparing for the right market timing.

Government Actions and Financial Impact

• The speaker criticizes certain states like Colorado, New York, and Illinois for allowing the sale of someone's house and keeping the money.
• The speaker believes this issue will be resolved this year, mentioning a case from South Dakota that should overturn the states' ability to keep the money.
• The US government intentionally creates inflation and continues to print money extensively.
• The speaker predicts that the Federal Reserve will continue to raise interest rates, and they do not foresee a decrease in the near future.
• They suggest that the government aims to maintain inflation in the range of 8 to 10%.
• The speaker expresses concern about the mistreatment of the poorest individuals who lose their homes at foreclosure auctions, criticizing the government for taking advantage of them.

Media Influence and Advocacy

• Both sides of the political spectrum are being used by the advertising machine, exploiting outrage to attract a larger audience.
• The speaker mentions Fox News and Tucker Carlson as examples of media outlets and personalities using provocative statements.
• People in a disadvantaged position struggle financially and cannot pay their taxes or afford legal representation.
• They often give up and settle for subpar living arrangements.
• Such individuals are not equipped to navigate bureaucratic processes.
• The speaker's business involves obtaining lists of people owed money and convincing them of a genuine opportunity.
• The speaker believes in helping small business people succeed and advocating for control over the government.
• They express satisfaction in getting money back from the government as a form of revenge for being bossed around and having their money taken.
• The speaker wants to teach others how to retrieve the money owed to them.

Impact of Economic Factors

• Borrowing money today and paying it back in the future becomes easier with inflation.
• The speaker asserts that the government intentionally creates inflation and continues to print money extensively.
• The speaker believes that the real estate market is heading into a downturn, but the exact duration is unknown.
• They recommend accumulating cash instead of buying new inventory for flipping.
• The focus should be on finishing up existing projects and getting them flipped.

LIKE • SHARE • JOIN • REVIEW

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SUPPORT THE SHOW!

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Brad Chandler is a devoted father who was determined to find help for his son's anxiety. In his quest for answers, Brad found himself on a life-changing Zoom call with a woman recommended by a friend. Within just five minutes, she identified a tick in Brad's behavior, pointing out that he blinked excessively when discussing his childhood. This astute observation led to a revelation: Brad might have unresolved childhood trauma that was contributing to his son's anxiety.

Eager to do whatever it took to help his son, Brad eagerly accepted an invitation to travel to Park City and work with Mike's Navy Seal husband and the woman he had connected with. Little did he know that a mere three-hour session with the Navy Seal would transform every aspect of his life.

During their time together, Brad and the Navy Seal delved into events from Brad's childhood that had caused him immense stress and a sense of helplessness. The experience allowed Brad to realize that he had been carrying unresolved issues from his past, which in turn affected his son's anxiety.

Motivated by the newfound understanding, Brad dedicated himself to healing and gaining control over his life. This transformative journey not only empowered Brad to become the rock his son needed but also inspired him to help others facing similar challenges.

Today, Brad Chandler is a beacon of hope for families dealing with anxiety and unresolved trauma. Through his own experiences and the knowledge gained from his transformational session, he works tirelessly to support and guide individuals towards healing and resilience. Brad's story serves as a testament to the power of confronting and overcoming our past, ultimately leading to a brighter future for ourselves and our loved ones.

Connect with Brad Chandler: https://www.bradchandler.com/

Primary Topics Covered:

1. Introduction to the Speaker's Journey

• How the speaker got into flipping houses
• Number of houses bought and years in business
• Initial motivations for making money and proving worth

2. Importance of Self-Love and Self-Worth

• Recommendation to take a self-love quiz
• Actions to take if self-love score is low
• Emphasizing the role of self-love in happiness and fulfillment
• Opportunity for a new life

3. Childhood Stories and Negative Self-Perception

• Coping mechanisms and their impact on adulthood
• Speaker's personal experiences of failed marriages and mistakes
• Financial losses and societal issues mentioned

4. Dispelling Misconceptions about Hypnosis

• Differentiating stage hypnosis from therapeutic hypnosis
• Explanation of hypnosis as a relaxed state and its impact on the subconscious
• Importance of the subconscious mind in behavior

5. Four Questions for Self-Worth and Self-Esteem

• Detailed exploration of the four questions
• Transformation potential and their relevance to prison population

6. Self-Love as a Solution for Personal and Societal Problems

• Speaker's life's work in helping people find self-love
• Linking lack of self-love to global issues
• Importance of awareness and personal change

7. Impact of Parenting and Changing Behaviors

• Self-reflection on imperfect parenting and blame
• Changing behaviors through self-love, using "shitty marriage" as an example

8. Addressing Root Thinking Issues

• Speaker's work with struggling CEOs
• Identifying work addiction and its connection to self-worth
• Impact of mentors and their insights on addiction

9. Speaker's Work in Real Estate

• Flip and wholesales statistics from the previous year
• Limited involvement in the business
• New perspective on dealing with sellers

10. Personal Transformation and Priorities

• Quitting drinking and seeking deeper connections
• Avoiding gossip and complaints
• Identifying self-confidence issues in others
• Challenging traditional beliefs about marriage

11. Finding Happiness, Positive Change, and Perspective

• Importance of not accepting suffering
• Positive changes in speaker's life
• Interpreting events and changing perspectives

12. Personal Journey to Resolving Childhood Trauma

• Seeking help for son's anxiety
• Zoom call recommendation and Navy Seal session
• The impact of childhood trauma on relationships

LIKE • SHARE • JOIN • REVIEW

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SUPPORT THE SHOW!

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Welcome back to another episode of the REI Mastermind Network! On today's show, host Jack Hoss is joined by special guest Guido Nunez to tackle the topic of wasted time in the workplace. They dive into the various factors that contribute to inefficiency, such as distractions and unoptimized processes. But fear not, they also provide valuable insights on how to eliminate waste and maximize productivity.

In addition to dissecting workplace productivity, Jack and Guido explore the world of real estate investing. They discuss the importance of prioritizing tasks and aligning them with goals, as well as deciding between active and passive investing. They shed light on alternative investment opportunities and share their strategies for success.

As the conversation unfolds, they delve into the nitty-gritty of real estate investing, including stress testing properties, evaluating market potential, and understanding financing options. Jack and Guido draw from their own experiences, both the challenges they faced and the lessons they learned along the way.

But it's not just about investing in properties, it's about building meaningful relationships within the industry. They reveal their secrets to networking and finding reputable experts in the desired market. From property managers to maintenance professionals, they share their tried-and-true methods for assembling a top-notch team.

And don't miss their expert advice on managing properties, from enhancing security to dealing with troublesome residents. They discuss the nuances of different property types, with a focus on D-class properties, which offer unique advantages for beginner investors.

So whether you're looking to optimize your productivity in the workplace or dive into the world of real estate investing, this episode is packed with valuable insights and practical tips to help you master the game. Let's jump right in!

Connect with Guido Nunez: theW2investor.com

Key Topics and Bullets:

Primary Topic: Wasted Time in the Workplace

- Coworkers and distractions as sources of wasted time

- Suggested solutions: automating tasks and simplifying decision making

- Importance of prioritizing tasks based on importance and aligning with goals

Primary Topic: Active vs. Passive Investing

- The decision to be an active investor or a passive investor

- Time constraints for certain professions, like doctors or surgeons

- Alternative ways to invest as a passive investor, such as joint ventures or syndications

Primary Topic: Property Investment Considerations

- Importance of stress testing the property to understand breakeven point and potential negative cash flow

- Examination of property location and market appreciation potential

- Assessing the neighborhood's position and potential improvement in three years

- Value of the property based on the difference between current rent and market rent

- Financing considerations

Primary Topic: Overcoming Challenges in Real Estate Investing

- Limited financial resources when starting out

- Cost of mentorships in the field

- Strategies for acquiring knowledge: books, audiobooks, podcasts, meetups, learning from everyday investors, watching YouTube videos

- Emphasizing the time-consuming nature of the learning process

Primary Topic: Finding Opportunities in Real Estate

- Importance of direct communication with sellers

- The realization that taking action and responding promptly is more important than having a perfect script

- Lesson learned about treating everyone with respect, particularly when dealing with D class properties

- The goal of conveying to residents that improvements are being made

- Appreciation from majority of residents, managing troublemakers

Primary Topic: Building a Network and Finding Experts

- Importance of building a network

- Seeking out experts in desired markets

- Example of reaching out to brokers for property manager recommendations

- Asking property managers for maintenance professional recommendations

Primary Topic: Enhancing Property Value and Resident Satisfaction

- Importance of security in properties

- Factors for creating a safe environment: good lighting, secured gates

- Addressing troublesome residents

- Cleaning up the property to increase rental income and property value

- Importance of a reliable contractor for property management

Primary Topic: Transitioning from Residential to Commercial Real Estate

- Starting in single-family homes and exploring commercial real estate

- Transition due to layoff and the desire to supplement income

- Background in residential real estate from mother being a real estate agent

- Management ease in decont properties compared to other types

- Cost-effectiveness and recommendation for beginner investors

- Prevalence of older buildings and starting investment locally

- Risk of illegal activities if not closely monitored.

LIKE • SHARE • JOIN • REVIEW

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SUPPORT THE SHOW!

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Ray Zhang is a skilled entrepreneur who discovered his passion for flipping various items. Starting with free stuff and cars, he soon ventured into the realm of real estate. For the past four years, Ray has immersed himself in the world of land flipping. In his first year, he primarily focused on buying and selling inexpensive plots of land, making a modest profit. However, his expertise has evolved, and he now specializes in flipping infill lots located near bustling urban areas. Ray's ability to identify lucrative opportunities in the real estate market has established him as a successful land flipper. He continues to thrive in his current role, constantly seeking out new opportunities to maximize his profits.

Connect with Ray Zhang:

• Instagram: https://www.instagram.com/virtualflipland/
• TikTok: https://www.tiktok.com/@virtualflipland

Ray Zhang's Journey into Land Flipping

• Ray Zhang's experience with flipping various items before stumbling into land flipping
• His initial focus on flipping cheap land in the first year
• Transitioning to flipping infill lots near cities

Strategy and Market Focus

• Targeting land near growing cities
• Avoiding markets that are losing people, such as New York and New Jersey
• Open to focusing on any growing market

Progress and Projections

• Been involved in land investing for around 4 years
• In 2022, completed approximately 100 deals with a net profit of 900,000
• 2023 projections include buying around 330 land pieces and selling them after posting for sale

Challenges and Apprehensions

• Mentor advised selling some land due to holding a significant number of properties
• Despite potential appreciation, mentor emphasized the importance of selling for instant cash
• Noting a slowdown in the market, with longer turnaround times for offers and sales

Previous Real Estate Ventures

• Attempted wholesaling, virtual wholesaling, and apartment investing before finding success with land flipping
• Acknowledges the difficulty of wholesaling, especially when done virtually
• Perceived lack of funds as a barrier to apartment investing

Mentorship and Mindset Shift

• Recognizing the value of seeking out mentors who have achieved success in the desired field
• Investing in mentorship as an essential aspect of success
• Emphasizing the importance of changing from a poor mindset to a rich mindset for success

Overcoming Homelessness

• Sharing the experience of being homeless and living in a car for several months
• Flipping free items as a means to generate income and initially invest in land flipping
• Realization of mentorship's power through a car flipping mentor's guidance

Note: This summary covers the main topics discussed in the text, providing an overview of Ray Zhang's journey, strategy, progress, challenges, previous ventures, mentorship, and overcoming homelessness.

LIKE • SHARE • JOIN • REVIEW

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SUPPORT THE SHOW!

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Noah Hoffman is a dynamic entrepreneur who ventured into the real estate industry at a young age. Initially working for a mentor in property management, Noah quickly identified the potential of short-term rentals through Airbnb. He began managing properties for his mentor and gradually expanded his portfolio, renting additional properties to put on Airbnb. Noah's experience as a carpet cleaner also proved beneficial as he pitched the idea of short-term rentals to property owners, successfully securing management contracts.

After five years of working in property management, Noah made his first property purchase - a duplex with an FHA loan, occupying one unit himself. Empowered by his remote management skills, acquired through overseeing properties out of town, Noah took a leap and started investing in Fresno, California, as the San Francisco Bay area lacked favorable cash flow opportunities. To further increase his income, Noah also ventured into building accessory dwelling units (ADUs), capitalizing on favorable legislation that made the process more affordable and accessible.

Noah now successfully manages multiple properties remotely and has expanded his ADU projects to include five units. With his entrepreneurial spirit and ability to seize innovative opportunities, Noah Hoffman continues to flourish in the real estate industry.

Connect with Noah Hoffman: https://www.instagram.com/noahhoffmanairbnb/

Communication with Guests on Airbnb

• Importance of providing key information
• Bedroom/bathroom details
• Location
• Price
• Offering discounts to guests
• Based on requests or short notice check-ins

Managing Airbnb Properties

• Coordinating with service providers
• House cleaners
• Handymen
• Delegating property management tasks to staff
• Keeping detailed property information
• Appliance model numbers
• Warranty information

Offering Additional Services to Guests

• White glove services
• Pre-arrival groceries through partnerships with services like Instacart
• Starting with free or low-cost options, gradually incorporating income-generating services

Maximizing Rental Income

• Splitting a house into multiple units
• Especially in expensive areas like the Bay Area
• Meeting the demand for furnished rentals for traveling workers
• Willing to pay around $2000 a month

Real Estate Investing Strategies and Financing

• Creative financing and wholesaling for finding off-market deals
• Purchasing properties without getting loans in their name
• Personal branding and networking for attracting investors

Speaker's Journey in Real Estate

• Starting as an entrepreneur at a young age
• Gaining mentorship and work experience in property management
• Gradually expanding from managing properties to buying their own

Fundraising and Crowd Funding

• Using a platform like Air Me for a large fundraising call
• Transitioning from a 506b investment to a crowd funding campaign
• Hiring a SEC attorney and finding a SEC approved platform
• Importance of having a website for investor announcements and updates

Challenges and Lessons Learned

• Challenges with managing properties with pools
• Experiences with buying and selling deals from wholesalers
• Struggles with effectively managing a cold caller
• Balancing personal involvement and delegation as a business owner

Growth and Future Plans

• Exploring new markets and favoring Fresno
• Potential move towards the Midwest in the future
• Risk-taking and trying new things as a business owner
• Developing software for Airbnb management business and future sale
• Goal of growing and selling the management business, extracting from day-to-day operations

Team Building and Scaling

• Having a team of remote contractors and on-site workers for property management
• Growing the team to ten people
• Importance of finding the right people to work with

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SUPPORT THE SHOW!

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Daniel Dorfman is the visionary behind Roots, a real estate fund designed to provide affordable access to great return properties. He recognized the need for a win-win situation where residents could feel invested in the homes they live in, while also ensuring cash flow for investors. Dorfman observed that traditional security deposits often discouraged tenants from caring for the property, leading to a decline in quality. To address this issue, he created a unique model where tenants become partners in the investment from day one, acquiring a percentage ownership stake in the building and portfolio. Additionally, through the Living in Lake Yona program, tenants have the opportunity to earn rental rebates by responsibly maintaining the property and being good neighbors. Dorfman's innovative approach has not only transformed the tenant-landlord relationship but also yielded impressive results, with higher rent payment rates and improved asset quality. While challenges and resistance are expected, the Roots model is designed to incentivize participation and foster a partnership mentality among residents.

Connect with Daniel Dorfman: https://www.investwithroots.com/

LIKE • SHARE • JOIN • REVIEW

• Website
• Join the REI Mastermind Network on Locals!
• Apple Podcasts
• Google Podcasts
• YouTube
• Spotify
• Stitcher
• Deezer
• Facebook
• Twitter
• Instagram

SUPPORT THE SHOW!

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Abbas Mohammed is a successful real estate investor who made a name for himself in the multifamily sector. His journey began at the age of eighteen when he entered the real estate industry as a residential agent. Though he initially struggled, Abbas soon found his footing and rapidly rose in the ranks. Within just four and a half years, he earned a spot as one of the top 15 agents in the country, working under REMAX and managing a team of 25 virtual assistants. With his residential business flourishing, Abbas faced a new challenge – how to effectively invest the surplus cash generated from his sales. Initially, he considered building a single-family portfolio. However, upon closer examination, he realized that he would have limited control over the value of these homes, which largely depended on external factors such as interest rates and affordability. Sensing potential pitfalls, Abbas decided to explore other investment options. After thoroughly researching various avenues, Abbas stumbled upon the world of multifamily real estate. Intrigued by the numerous advantages it offered, he quickly made the bold decision to skip single-family investments altogether and dive straight into multifamily. His first venture involved a 64-unit property, a leap of faith that would prove to be one of the best decisions he ever made. Since then, Abbas Mohammed has continued his successful journey in multifamily real estate, leveraging his expertise and experience to further expand his portfolio. His story serves as an inspiration to aspiring investors, showcasing the rewards that come from strategic decision-making, calculated risk-taking, and an unwavering pursuit of success in the real estate industry.

Connect with Abbas Mohammed: https://modelequity.com/invest-now/

Key Topics & Bullets:

Challenges in Raising Money for Real Estate Deals

• Difficulty encountered by the speaker in raising money for real estate deals
• Concerns about using other people's money and the associated risks
• Hesitation in accepting a $50,000 investment due to lack of guarantee on returns
• Positive outcome of a deal with a 29% increase in NOI
• Realization of the seriousness of using other people's money in investments
• Emphasis on the importance of being careful and responsible when dealing with other people's money

Building Relationships with Brokers in Multifamily Real Estate

• Strategy of targeting newer brokers on teams rather than top brokers
• Easier communication and relationship-building with junior brokers
• Importance of treating brokers like friends and being known and trusted by them
• Being omnipresent, active on social media, and diligent in the deal process to establish trust
• Quick response to deals, being communicative and honest to build trust
• Following through on promises and avoiding unnecessary changes or renegotiations
• Establishing deep relationships with brokers through diligence and keeping promises
• Appreciation from brokers for the effort put into deals, even if they don't close

Scaling and Growing the Business through Hiring

• Hiring the first virtual assistant in 2019 and subsequent hires before COVID
• Instruction to the hiring manager to continue hiring nonstop during COVID
• Significant growth of the team from three people to twelve and then from 12 to 25
• Tripling business income in 2020 and again in the following year
• Realization that delegation and hiring people with different skills are essential for growth
• Hiring someone to focus on raising equity from high net worth individuals and family offices
• Prioritizing hiring people who can do what the speaker is trying to do
• Importance of being in the driver's seat when starting a business, but adding more people for accelerated growth

Advantages of Investing in Multifamily Properties over Single-Family Homes

• Difficulty in buying single-family homes due to tenant and maintenance issues
• Trend of people selling single-family portfolios to invest in multifamily properties
• Passive investment in multifamily properties leading to favorable returns and tax savings in 2021
• Advice to think bigger and ramp up production in real estate investing
• Importance of putting in more volume and effort for success in strategies
• Initial success as a residential real estate agent, leading to caution in building a single-family portfolio

Timing and Market Considerations in Multifamily Investing

• Acquisition of first multifamily deal in late July 2021 and subsequent $30 million deal in December 2021
• Conscious decision to stay out of the market in Q1 and Q2 of 2022 due to overpricing
• Resumption of buying in July 2022 when market prices dropped
• Belief that 2023 will be a good year for investing due to decreased asset prices and less competition
• Mistake of wasting 6 months looking for deals during unfavourable market conditions
• Importance of building relationships with investors and growing the business during market downturns

Choosing the Right Market and Building Relationships

• Focus on choosing the right market over the right property in multifamily investing
• Emphasis on the Dallas-Fort Worth market and leveraging sales background for broker relationships
• Sourcing off-market deals and gaining an advantage over other buyers through broker relationships
• Consideration of factors like population growth, job growth, income levels, and landlord-friendly laws when choosing a market
• $40,000 or higher area income requirement and feasibility of rent increases based on projected household incomes

Building a Scalable Business through Systemization and Delegation

• Implementation of cold calling to generate leads, aided by a virtual assistant
• Expanding the team with a hiring manager, training manager, salespeople, and an agent
• Transition to a nearly 100% passive business through delegation and hiring
• Shifting focus to model equity and multifamily and hiring someone to underwrite deals
• Hiring someone to handle email and marketing tasks for time savings
• Recent hiring of someone to help with equity raising
• Incremental hiring based on reaching capacity and taking things one step at a time

LIKE • SHARE • JOIN • REVIEW

• Website
• Join the REI Mastermind Network on Locals!
• Apple Podcasts
• Google Podcasts
• YouTube
• Spotify
• Stitcher
• Deezer
• Facebook
• Twitter
• Instagram

SUPPORT THE SHOW!

• Self Managing Your Rental Properties? Get 6 months of RentRedi for $1! Click this link!
• If you are new to Wealthfront, and open a Cash Account, you'll get a 0.50% APY boost for 3 months.
• Open an Automated Index Investing Account or Automated Bond Portfolio, you'll earn $5,000 managed for free.
• Get $10 and Reduce Your Business Costs by Shopping at AppSumo • https://bit.ly/reiappsumo
• Get $10 Towards Your First Purchase at Drop • https://drop.com/?referer=3DC729

"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack