David Lecko is a dedicated entrepreneur and founder of DealMachine who exemplifies the value of persistence and long-term commitment. This mindset was instilled in him when he first had an interest in real estate while working tirelessly for a small company, noticing that he worked harder than the owner himself. Curiosity led him to inquire about the owner's rental properties, and he was enlightened on the advantages they offered in comparison to the stock market. The stability, monthly cash flow, and early retirement opportunities presented by real estate investments resonated with David, inspiring him to venture into the world of real estate investing. With his solid work ethic and unwavering persistence, David Lecko has become a respected figure in the entrepreneurial community.

Connect with David Lecko: https://www.instagram.com/dlecko/

Introduction

• Podcast name and episode title
• Host and guest names

Guest's Approach to Wealth and Business

• Having multiple streams of income does not guarantee wealth
• Focusing on too many opportunities may lead to none of them working
• Guest's goal of having his business serve him and live a fulfilling lifestyle
• Current work schedule of 6 hours a day with a staff of 30

Hesitation to Start Another Business

• Time constraints and potential impact on current business
• Concern for discouraging business partner
• Value of partnership and equal ownership

Legal Considerations and Business Disputes

• Operating agreement and push-pull agreement
• Initial disagreement on hiring employees
• Importance of communication and improved productivity

Motivation and Market Trends

• Responding to pain as motivation
• Wholesaling specialization and market trends
• Mention of tech job market trends

Personal Milestone and Starting in Real Estate Investing

• Guest's purchase of Ferrari after reaching $1,000,000 milestone
• Advice on building up side hustle before quitting job
• Starting in real estate with tax-delinquent properties

Mindset and Additional Resources

• Importance of mindset in starting a business
• Guest's podcast invitation
• Recommended episode on quitting a job and starting wholesaling

Introduction to DealMachine

• Discussion of DealMachine app
• Focus on simplicity and helping new real estate investors
• Integration of Chat GPT and real estate data

Market Trends and Overcoming Challenges

• Trends in interest rates and buyer demand
• Guest's successful deals meeting the 1% rule
• Encouragement to participate in the 30-day challenge
• Wholesaling as a low-capital entry into real estate investing

Features and Strategies of DealMachine

• Virtual driving for dollars feature
• Avoiding analysis paralysis and quitting too soon
• Building a cash-generating wholesaling machine
• Finding buyers for properties under contract

Building Credibility and Business Growth

• Importance of transparency and honesty with sellers
• Finding buyers through various channels
• Sending contracts to title companies
• Balancing finding opportunities and finding buyers

Personal Growth and Self-Care

• Incorporating humor in business conversations
• Guest's favorite tool: weightlifting for anxiety and self-care
• Overcoming anxiety and focusing on personal well-being

Conclusion

• Guest's business contraction and subsequent growth
• Recap of main points covered in the episode
• Final words or call-to-action

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

Mentioned in this episode:

RealDealCast

RealDealCast Links:

Welcome back to the REI Mastermind Network! In today's episode, host Jack Hoss is joined by the knowledgeable Richard Canfield, who is deeply involved in the world of infinite banking. As they dive into the discussion, Richard shares his admiration for Jack's program and his strong desire to add value to people's lives. They explore the profound impact Nelson Nash, Richard's mentor in infinite banking, had on his life and financial understanding. Nash's captivating speaking style and approachable nature left a lasting impression on Richard after attending his 10-hour seminar at a conference in 2012. The conversation delves into the crucial lessons Richard learned from Nash, not only about infinite banking but also about relationships and marriage. Reflecting on the recent anniversary of Nash's passing, Richard highlights his dedication and passion for constant value creation. They also tackle the concept of retirement, which Nash believed to be a falsehood, advocating instead for personal freedom and passive income. Join us as Richard shares valuable insights and personal experiences, including his own business mistakes, as he sheds light on the power of infinite banking and its potential to reshape our financial landscape. You won't want to miss this episode of the REI Mastermind Network!

Connect with Richard Canfield: https://7steps.ca/

Introduction of Richard Canfield and his involvement in infinite banking

• Richard Canfield praises the REI Mastermind Network
• Canfield's desire to add value to others' lives
• Canfield's mentor in infinite banking is Nelson Nash

Nelson Nash and his impact on Richard Canfield

• Canfield met Nash at a conference in 2012 and attended his 10-hour seminar
• Nash's captivating speaking style and approachable nature
• Nash's dedication to learning and extensive reading habits
• Learning about infinite banking and relationships from Nash
• Nash's dedication and passion, highlighted on the anniversary of his passing

Retirement as a falsehood and the concept of freedom and passive income

• Nelson Nash's belief that retirement is a falsehood
• Desire for freedom and passive income instead of traditional retirement
• Nash's insistence on constant value addition and learning

Richard Canfield's business mistakes and lessons learned

• Canfield's biggest business mistake: being too trusting
• The importance of asking more questions and being cautious in business relationships
• What Canfield would tell his younger self and advice for financial optimization

The infinite banking concept and its principles

• The infinite banking concept as a bottom-up solution
• Individual control over money and financial systems
• Importance of understanding Nelson Nash's work and philosophy

Nelson Nash's use of whole life insurance as a banking tool

• Nelson Nash's journey to financial independence
• The concept of infinite banking as a way of life, not just a strategy
• The benefits and control offered by co-owning an insurance company

Behavior and effectiveness in utilizing whole life insurance

• Whole life insurance as a tool that depends on user behavior
• Importance of behavior, including additional deposits, for success

The Kolbe Index and its relevance

• Explanation of the Kolbe Index as a measurement of natural instinctual ways of getting things done
• Richard Canfield's use of the Kolbe Index with his clients

Generational wealth and benefits of whole life insurance

• Nelson Nash's insurance policies and tax-free inheritance for beneficiaries
• Whole life insurance contracts as property with generational wealth benefits
• Nelson Nash's use of policy loans for real estate investment

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

Mentioned in this episode:

RealDealCast

RealDealCast Links:

Agostino Pintus is a seasoned professional in the business world, known for his knack for deals and fearlessness when it comes to pursuing success. Starting out, a deal worth over $1,000,000 was enough to send shivers down his spine. However, as time went on, his confidence grew, and he now finds himself unphased by such figures. His focus has shifted towards lease deals, as they hold the key to reaching his intended goal of helping others. Agostino is driven by a genuine desire to make a positive impact on people's lives and is determined to achieve his mission.

Connect with Agostino Pintus: https://bulletproofcashflow.com/

Agostino Pintus' Background and Vision

• Pintus' dissatisfaction with a 40-hour work week
• Importance of positive visualization and programming the reticular activating system
• Utilizing future goal setting and manifestation techniques
• Pintus' diversified investment portfolio

Pintus' Journey to Success

• Pintus' background from sleeping on a mattress to building a $350,000,000 portfolio
• Desire to leave a legacy and help more people
• Pintus' motivation to be remembered through significant deals

The Power of Visualization and Determination

• The use of vision and anti-vision boards for motivation
• Emphasizing the importance of visualization in goal achievement
• Real estate investing as not being an easy path

Lessons and Advice from Agostino Pintus

• Book recommendations - "On the Shortness of Life" by Seneca
• The role of communication tools in business
• Advice to younger self - stick to engineering and pursue real estate earlier
• Importance of choosing partners wisely and providing feedback to brokers
• Valuing transparency, alignment of goals, and strong relationships in partnerships

Cash Flow and Partnering for Success

• The importance of cash flow management and its "bulletproof" nature
• Challenges of relying on appreciation during economic downturns
• Choosing the right partners for real estate success
• Learning from successful partnership examples like Warren Buffett and Charlie Munger

Collaboration and Mutual Success

• Benefits of collaboration and helping others in the industry
• Viewing other investors as partners rather than competitors
• The Monopoly board game and comparisons of socialist and capitalist ideologies

Investing Strategies and Red Flags

• Pintus' focus on ground-up development and adaptive reuse projects
• Avoiding high-risk deals and prioritizing potential return on investment and tax abatements
• Investment in single tenant net lease deals with corporate guarantee tenants
• Fundraising through a blind pool fund and offering steady monthly returns to investors
• Current focus on development and net lease deals while waiting for the multifamily market stabilization
• Avoidance of overpaying for deals and recognizing red flags in markets and sellers

Conclusion

• Recap of key points discussed
• Call to action to share the episode and visit bulletproofcashflow.com
• Guest's gratitude for the interview

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• 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

Mentioned in this episode:

RealDealCast

RealDealCast Links:

Greg Butcher is an experienced investor in real estate, specializing in multifamily properties. He began his real estate journey by investing in single-family homes, but after discovering the potential of multifamily real estate and syndications, he decided to expand his knowledge and investment strategy. Nine years ago, Greg joined a multifamily mentoring and educational program, just as he was retiring from active duty. During his first year in the program, he invested as a passive limited partner to learn the ins and outs of underwriting. In 2016, Greg took on a role as a general partner and successfully closed his first deal. With his expertise and dedication to the real estate industry, Greg continues to thrive as an investor in the multifamily market.

Connect with Greg Butcher: https://bit.ly/kpichecklist

Introduction and Background

• Greg Butcher's background and how he got into multifamily investing
• Lessons learned from being a marine and applying them to real estate investing

Tips for Veterans Transitioning to Real Estate Investing

• Balancing a job with real estate investing
• Importance of networking and surrounding oneself with knowledgeable individuals
• Starting small vs. jumping into multifamily investing

Importance of Asset Management in Multifamily Real Estate

• Lack of focus on asset management in education programs
• The significance of asset management in today's economy
• Greg's motivation for creating KPI checklists for asset management

KPIs for Multifamily Asset Management

• Marketing and leasing KPIs: identifying marketing channels, lead flow, cost per lead and cost per lease signed
• Importance of managing ratios to improve effectiveness
• Market-specific KPIs and the impact of market conditions

Managing Property Managers Effectively

• Questions to ask when hiring a property management company
• Importance of building a good relationship with property managers
• Effect of property management company size on support and effectiveness

Lessons Learned from Syndication

• Importance of finding the right partners
• Lessons learned in tackling one's first syndication
• Balancing realistic projections and preserving investor trust

Dealing with Challenges in Real Estate Investing

• Impact of rising interest rates on floating rate debt properties
• Handling unforeseen events such as the COVID-19 pandemic
• Stress testing and mitigating risks in real estate investments

Greg's Experience in Syndication

• Number of properties syndicated and current assets under management
• Performance of fixed rate debt deals vs. floating rate debt deals

Personal Recommendations and Tools

• Book recommendation: "Best in Class" by Gary Lipsky and Kyle Mitchell
• Essential tool: Excel for financial analysis and performance tracking

Advice for Real Estate Investors

• Start now and don't delay
• Consider entering syndication in commercial real estate
• Exploring other asset classes such as self-storage

Closing Thoughts and Additional Concepts

• Key factors to consider for effective asset management: manager, meetings, measurement, cash and financial management, construction management, and community
• Importance of fostering a sense of community for profitability and tenant satisfaction

Conclusion and Thank You

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• 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

Mentioned in this episode:

RealDealCast

RealDealCast Links:

Jim Oliver started his career as a fee-based and full-service financial advisor after graduating from college. He spent 15 years in this role, providing financial advice and acting as a financial babysitter for his clients. One day, he received a notification from one of the platforms he was using, claiming that his clients had earned 9.38% returns over a certain period. However, upon further investigation, Jim realized that despite having $700,000,000 under management, his own investments hadn't seen the same increase. He meticulously analyzed the numbers, factoring in fees, expenses, and taxes, and discovered that his actual returns were only around 4%. This revelation sparked a realization within Jim, leading him to question the traditional financial advisory model.

Connect with Jim Oliver: https://community.createtailwind.com/

Introduction to Infinite Banking

• Definition of infinite banking as using a whole life insurance policy as a banking tool
• Explanation of how the policy grows guaranteed every day and is designed for cash value, not just death benefit
• Comparison to how banks and corporations use life insurance because the money inside is never taxed
• Explanation of how mutual insurance companies are owned by policy owners, allowing for loans up to 100% of the cash value
• Introduction to interest-only loans taken from the insurance company, using other people's money (OPM)
• Explanation of how the borrowed money is then invested in real estate, with cash flow returning to the insurance contract
• Emphasis on how over time, the cash flow increases, allowing for continued investments in real estate
• Highlighting the benefits of real estate investments, including growth, cash flow, and a tax-free death benefit for heirs
• Importance of leveraging the insurance contract to maximize real estate investments

Success Stories with Infinite Banking

• Mention of a business owner who went from no real estate to 250 units using infinite banking
• Example of a couple who doubled their money using seller financing and insurance company loans

Limitations of 401(k)s and Roth Options

• Discussion on the limitations and concerns of relying solely on 401(k)s and Roth options for retirement
• Expression of concerns about government control over retirement accounts and potential asset seizure

Introduction to Jim Oliver's Journey with Infinite Banking

• Personal experience of being introduced to the infinite banking concept through a friend and attending a seminar
• Emphasis on the value of studying and explaining concepts to gain a better understanding

Exploring the Banking System and Understanding Infinite Banking

• Basic explanation of how banking works and how depositors and borrowers contribute to the profitability of banks
• Highlighting the discrepancy between the interest income received by banks and the interest paid to depositors
• Introduction to the concept of infinite banking, which involves becoming all three entities (depositor, owner of the bank, and borrower) to control and benefit from the banking system

Jim Oliver's Book and Community

• Announcement of Jim Oliver's upcoming book release on November 14th
• Encouragement to join Jim Oliver's community
• Offer to provide a free copy of either his book "Make Bank Without the Bank" or Nelson's book "Becoming Your Own Banker"

Jim Oliver's Business Acquisition

• Discussion of Jim Oliver's recent business acquisition of an electronics refurbishment company
• Explanation of the terms of the deal, including an earn-out basis and revenue increase percentage going to the previous owners
• Details of finding profit in old sound bars and the business becoming profitable and making multiple six figures

Challenges and Learnings

• Mention of potential challenges, including not having immediate access to the full invested amount and not knowing how to best use the money in the insurance contract
• Reflection on the importance of self-education and the lessons learned from Nelson Nash about financial independence and the dangers of dependency on Wall Street banks and the government

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• 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

Mentioned in this episode:

RealDealCast

RealDealCast Links:

Joe Viery is an accomplished entrepreneur with a unique journey in the business world. For two eventful decades, he owned and successfully managed a special interest travel business, catering to the adventurous souls seeking unique experiences. In pursuit of expanding his horizons, Joe decided to sell his beloved business in the early 2000s.

With a degree in business management, Joe embraced a new career path in financial planning. He joined the esteemed California Association of Realtors, utilizing his expertise to help individuals navigate the complex world of finance. For seven years, Joe dedicated his time and skills to guiding clients towards achieving their financial goals.

In 2007, while Joe was immersing himself in the financial planning realm, a persistent individual approached him with an intriguing proposition. This person recognized Joe's deep understanding of the industry and insisted on discussing a groundbreaking strategy. Although skeptical at first, Joe's curiosity eventually drew him to explore this new approach, knowing that it could potentially reshape the financial landscape.

Joe Viery's story is one of resilience, adaptability, and an unwavering entrepreneurial spirit. From owning a successful business to guiding individuals towards their financial aspirations, he continues to embrace new challenges and opportunities with an open mind. Joe's experiences have not only shaped his professional journey but also fueled his passion for innovation and growth in various fields.

Connect with Joe Viery: https://ustagi.com/

Introduction to cost segregation

• Definition and purpose
• Separating short-term and long-term assets
• Expediting depreciation and claiming expense deductions

The history and evolution of cost segregation

• Past practice for larger buildings
• Development of analytical or modeling studies for smaller buildings
• Cost reduction and affordability

Benefits of cost segregation

• Tax refund potential for investors who have paid taxes in the last 3 years
• Three categories of people who may not benefit from cost segregation
• Example of tax deduction calculation for a single-family home

Cost segregation for bigger buildings

• Three-phase study approach for larger projects
• Fees based on engineering time and significance

Key considerations for cost segregation

• Importance of education and knowledge
• Avoiding issues with land allocation and purchase agreements
• The role of terminology and protecting clients

Exploring beyond cost segregation

• Considering the advantages of owning real estate
• Recommended resources (book and CRM)
• Building a valuable team of professionals

Other factors to consider

• Energy tax credits for value-add clients and flippers
• Selling property and 1031 exchanges
• Lookback studies for tax refunds up to 15 years

Conclusion

• Overall value and potential savings through cost segregation
• Mindset shift from cost to investment perspective.

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• 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

Mentioned in this episode:

RealDealCast

RealDealCast Links:

Welcome back to another episode of the REI Mastermind Network! I'm your host, Jack Hoss, and in today's episode, we have a very special guest joining us - Mike Kaeding, the innovative mind behind norhart.com. Mike and his team are revolutionizing the multifamily investing industry with their unique approach focused on tackling housing affordability and driving down costs. Through their innovative strategies, they have achieved an impressive 20-30% reduction in construction costs and have their sights set on reaching a 50% reduction in the near future. Mike's journey in the industry is equally fascinating, as he initially had no interest in joining his family's small multifamily building business. However, after his father's passing, he stepped up to the challenge and has been leading the charge ever since. Join us as Mike shares his insights into their groundbreaking techniques, their commitment to improving labor productivity in construction, and their mission to make a positive impact in the world through housing affordability. We'll also delve into Mike's podcast, "Becoming a Unicorn," and how he balances work and family life. So, grab your headphones and get ready to dive deep into the world of innovative real estate investing with Mike Kaeding on this inspiring episode of the REI Mastermind Network!

Connect with Mike Kaeding: https://www.norhart.com/

Mike Kaeding and his innovative approach to multifamily investing

• Solving housing affordability and driving down costs
• Achieving a 20-30% reduction in cost and aiming for a 50% reduction in the future
• Using strategies from other industries, like manufacturing, to improve labor productivity in construction
• Bringing all trades in-house and implementing assembly line techniques
• Creating a culture of improvement and solving thousands of small problems to drive efficiency

Mike Kaeding's background and journey in the multifamily business

• Growing up in a small multifamily building business started by his parents
• Initially not wanting to be involved, but eventually joining and taking over after his dad passed away

The importance of hiring the best employees and continuous improvement

• Flying in employees from other states and working with world experts
• Implementing lean videos to showcase team improvements
• Gradually implementing significant investments in infrastructure
• Letting go of struggling team members and hiring the best people
• The impact of hiring the right people on productivity and success

Mike Kaeding's personal values and priorities

• Making a positive impact in the world through housing affordability
• Prioritizing his relationship with his immediate family
• Eliminating anything in his life that doesn't contribute to these two main elements
• Valuing his time and trying to double up tasks
• Engaging in fun activities, like his daughter's YouTube channel

Mike Kaeding's podcast and beliefs on making a positive impact

• Mike Kaeding's podcast "Becoming a Unicorn"
• Emphasizing the shortness of life and avoiding wasting time
• Using time to make a positive impact and pushing things forward
• Motivated by the fear of not doing enough to make an impact

Breaking out of the reactionary cycle and establishing goals

• Human tendency to be reactionary and only respond to pain
• Establishing goals and a bigger "why" to break out of this cycle
• Building the right culture and surrounding yourself with the right people

Mike Kaeding's efforts to solve housing affordability nationwide

• Developing units for affordable living
• Aim to produce 60,000 units per year and have an impact on housing supply
• Expanding manufacturing facilities to Texas and Mexico

Mike Kaeding's recommendations and lessons learned

• Recommended books: "No Rules" by Reed Hastings and currently reading "Multipliers"
• Biggest mistake was not understanding the importance of building relationships in real estate
• Advice on hiring the best people and trying new things, even if not initially good at them
• The commitment to advancement and betterment within the team

The Keeper Test and investing in employees and technologies

• The importance of hiring the best employees and letting go of those who aren't a good fit
• Introducing the "Keeper Test" to determine long-term employee viability
• Stories of firing employees but helping them find better fitting jobs and improved happiness
• The cost-effectiveness of hiring the best employees in the long run
• Seeing investments in employees and technologies as necessary expenses

Communicating unique company values and a new investment platform

• Prioritizing making a positive impact in the world over maximizing profit
• Challenges of communicating and marketing unique values
• Launching a new investment platform targeting a broad range of investors
• Offering online accounts with interest rates and flexibility
• Working to replace banks and offering investors interest rates and bank profits
• Pitching investors before building the platform to ensure demand

Challenges in the reg a space and lessons learned

• The challenges of the reg a space, similar to a full IPO
• The importance of pitching investors before building to gauge demand

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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

Mentioned in this episode:

RealDealCast

RealDealCast Links:

Welcome back to the REI Mastermind Network! In today's episode, titled "Processed," we have the pleasure of hearing from our host, Jack Hoss, and special guest Kevin Amolsch. They dive into the world of real estate investing and share valuable insights and experiences to help you navigate the industry with confidence.

From the uncertainty and lack of confidence when starting out, to the importance of that pivotal first deal, Jack and Kevin explore the growth and process that follows. They discuss the power of using a small literal notebook for daily tasks, the significance of customer relationship management (CRM) systems, and even delve into the lessons learned from historical financial crises.

Get ready to learn about the current economic climate, why land may not be an ideal investment choice, and the importance of cold calling and negotiation skills. Financing options like private money and hard money lending are also on the table, as our experts shed light on the criteria lenders look for and offer advice on how to approach loan conversations.

But it's not all about the money. Jack and Kevin also share their insights on the importance of focusing on client success rather than personal gain, and how this shift can lead to dramatic business growth. They touch on the challenges of the commercial space and highlight a new investment opportunity that allows anyone to get involved in real estate with just $10,000.

Throughout the episode, Jack and Kevin provide invaluable wisdom, including the importance of taking action, learning from failures, and finding your niche within the vast world of real estate. So fasten your seatbelts, listeners, because this episode is packed with knowledge and advice that will elevate your real estate investing journey.

Connect with Kevin Amolsch: https://pinefinancialgroup.com/

Starting out in real estate investing

• Uncertainty and lack of confidence
• The difficulty of the first deal
• Increased confidence and growth after completing the first deal

The importance of organization and prioritization

• Using a small literal notebook as a daily task list
• Relying on the notebook more than the phone
• The lack of customer relationship management (CRM) systems in business

Comparing the current economic situation to past recessions

• Research on the 2008 financial crisis
• Similarities between the current situation and the 1990s
• Acknowledging that every recession is different

Investing in land during the current economic situation

• Land not generating income
• Unentitled land not considered for development
• Lack of bridge loans for land during the approval process
• Cash as the main option for development

Cold calling as a strategy for generating deals

• Engaging in cold calling foreclosures, rent by owners, and for sale by owners
• Negotiating deals with property owners without much cash
• Involvement of private money or hard money lending

Understanding the lending process

• Brief experience in the conventional lending world
• The importance of credibility in hard money lending
• Having a plan for loan repayment and demonstrating value to the real estate investment

Shifting focus from self to clients for business growth

• Generating fees initially
• Prioritizing helping others make money
• Substantial growth once the focus shifted

Concerns and opportunities in the commercial space

• Bank's decision to stop investing in office spaces
• Providing a $4,000,000 loan for an $8,000,000 purchase and potential $40,000,000 project
• Website for obtaining information on commercial real estate

Anticipated challenges in commercial loans

- Large number of loans due in 2023 and 2024

- Doubled interest rates since loan origination

- Banks facing the dilemma of removing loans or requiring additional equity from borrowers

Opportunity for investment with lower minimums

• Ability to invest with a minimum of $10,000
• Exposure to Main Street over Wall Street
• Promise of an 8% return

Advice for success in real estate investing

• "Ready, fire, aim" mentality and avoiding paralysis by analysis
• Accepting failure, learning from it, and moving forward
• Starting with limited funds and being creative in deal negotiation
• Passion for financing and its importance in real estate deals

Working with hard money lenders

• Local lenders only able to help borrowers in their markets
• Providing advice and assistance to borrowers outside their market
• The importance of credibility and not manipulating values

The valuation process

• Local expertise in valuations
• Conducting a comparison grid, desk review, and property inspection
• Verifying the After Repair Value (ARV)

Finding focus within real estate investing

• The various ways to make money in real estate
• Advising against trying to do all methods at once
• Focusing on one method and evaluating its success before shifting if necessary

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

Mentioned in this episode:

RealDealCast

RealDealCast Links:

Welcome back to the REI Mastermind Network! In today's episode, we have a special guest, Shaun Young, who will be sharing his incredible journey in the real estate industry. Coming from a sales background, Shaun initially believed he could handle all the deals and contracts on his own. However, after months of struggling, he realized the need for help and hired his first virtual assistant to scale his business. Little did he know, this decision would change everything. Shaun shares his experiences, lessons learned, and the incredible success he achieved by partnering with virtual assistants. Tune in as we dive deep into the power of virtual assistants, the challenges of real estate wholesaling, and the importance of having the right mindset on this exciting episode of the REI Mastermind Network. Let's get started!

Connect with Shaun Young: https://realestatemastery.com/

The speaker's sales background and initial belief in being the best person to handle deals and contracts:

• Struggles faced with this belief
• Intervention and advice from coach to bring in help

Hiring the first virtual assistant and scaling the business:

• Importance of investing in franchises for higher success rates
• Example of investing in a McDonald's franchise
• Challenges in hiring and managing virtual assistants
• Creation of REI World Solutions to provide virtual assistants for the speaker's company and clients nationwide
• Importance of daily interaction and proper training for virtual assistants

Misconceptions and challenges in real estate wholesaling:

• Wholesaling as the hardest aspect of real estate investing
• The misconception of needing little to no money to start
• Significant work required to find deals and make phone calls
• Importance of finding a mentor or coach for guidance and support
• The importance of mindset and intention in succeeding in the business

Time management considerations and commitment to the business:

• Market research, mailers, follow-ups, cold calling, and texting
• Need for assistance if lacking time for crucial tasks
• Importance of full commitment and giving the business a 90 to 120 day runway

Finding the right virtual assistant:

• Assessing experience level and skills in the specific industry
• Ensuring the VA is solely dedicated to your company
• Treating the VA like a committed employee

Impact of virtual assistant team on business success:

• Improved productivity and increased deal closures
• Incorporating creative deals and scaling the business
• Adapting to market changes and aligning with knowledgeable individuals

Personal journey and motivation in pursuing real estate:

• Investing severance money in real estate after job loss
• Coaching and helping other students in the industry
• Applying the "7 layers deep why exercise" to understand motivations

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

Mentioned in this episode:

RealDealCast

RealDealCast Links:

Doug Peacock had dedicated his life to teaching, diligently putting money aside every month for his retirement. However, when the day finally arrived, he was shocked to discover that he was short a staggering $25,000,000. Sitting down with his advisor, Doug couldn't help but marvel at the red stash of money that represented his shortfall. Reflecting on his career, he couldn't help but think that this conversation should have happened five years earlier instead of just 60 days before leaving the classroom. Despite his unexpected financial setback, Doug now sought to find a new path in life, one that would bring him fulfillment and purpose beyond the confines of teaching.

Connect with Doug Peacock: https://www.peacockwealthgroup.com/

Introduction to the episode and guest

• Introduction of the podcast, host, and guest Doug Peacock

Discovering the upside-down approach to life insurance

• Flipping the upside down with minimum death benefit and maximum cash value
• Cutting commissions to benefit clients
• Availability of money within 30 to 60 days
• Use of mutual companies that pay dividends
• Selectivity in choosing insurance companies

The speaker's personal financial journey

• Attempting retirement from teaching
• Discovering a shortfall in savings late in their career
• Realization that the conversation should have happened earlier
• Exploding student loan debts and the start of a new path

The importance of control and access to money

• The need for boundaries in wealth warehousing
• The value of a good coach
• Having control and access to investments

Criteria for selecting insurance companies

• Preference for 100 plus-year-old mutual companies
• A-rated companies as preferred choices

Who benefits from the approach

• Athletes, real estate investors, and coaches looking to retire
• Customer control over investments

Factors influencing insurance costs

• Age, gender, and health rating
• Lower costs for women due to perceived lower risk behavior

Financing life and the importance of benefits

• Comparing costs with long-term benefits
• Emphasis on financing life rather than focusing on death benefit
• Access to money for various needs throughout life

Tax advantages and concerns

• Tax-exempt status of accumulated money
• Concerns about the direction of taxes

Taking action and challenging beliefs about money

• Belief in the need to take action today
• Importance of challenging beliefs about money
• Recognition that a relationship is not the key to success

Expertise and learning from others

• Tagline discussion on investing 10,000 hours or learning from someone who has already made that investment
• The importance of navigating specific structures and processes

Infinite banking and life insurance policy selection

• The term "infinite banking" losing meaning
• Choice of life insurance policy depending on individual needs
• Examples of different policy choices for different clients

The process and benefits of wealth warehousing

• Patience and time required for the method to yield results
• Building cash value for future use
• Potential for a return that exceeds the initial investment
• Creation of a tax-free warehouse of wealth

Uncovering the truths and dishonesty in the coaching industry

• Discovering lies and relearning beliefs
• Awareness of dishonest individuals in the coaching industry
• The importance of due diligence and researching individuals

Conclusion and cautionary message

• The impact of dishonesty in the coaching industry
• Advice on doing due diligence and reading about individuals before trusting them

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

Mentioned in this episode:

RealDealCast

RealDealCast Links: