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
- 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:
