Ritter on Real Estate

In today's episode of #RitterOnRealEstate, we sit down with Sam Bates. Sam is the founder and CEO of Bates Capital Group. Sam started his real estate journey in 2009 and has been directly involved in the acquisition, reposition, disposition, and asset management of over $150,000,000 in AUM. His portfolio currently has 924 units in Texas, Mississippi, Georgia, and Florida. Sam and his partners have roughly another 250 units in the pipeline to be developed. 

Sam spent over a decade in Corporate America working in various consulting, finance, and accounting positions. He quickly realized a W-2 job was not going to satisfy his desire to help people improve their lives. Once Sam started investing in real estate, he quickly realized how powerful real estate is and decided this was how he wanted to help others meet their goals and create generation wealth to leave their legacy.

Sam has a Bachelor of Science degree from Texas A&M University in Finance, an MS in Personal Financial Planning, and an MBA from Texas Tech University. 


Key Points From The Episode:

• Building a business from the ground up.
• Partnering with the right people with the same values and vision.
• How the return profiles differ from an acquisition side to a development side.
• Components of market evaluation.
• Enhancing value by gaining supplementary knowledge.
• Entering a new market and managing from afar.
• Shifts in capitalization rates and how they affect investors.
• The Importance of revenue management system.
• Understanding ROI and how it is an important factor in evaluating a deal.

Books mentioned:

1. Who, Not How by Dan Sullivan and Dr. Benjamin Hardy

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Andrew Kerr is the founder of FI by REI, a company dedicated to helping individuals in the nonprofit sector achieve financial independence through real estate investing. As someone who has dedicated his life to helping others through working with nonprofit organizations, Andrew is passionate about making sure mission-driven people don’t have to sacrifice their financial wellbeing to do the work they love. 

Because of his success in real estate investing, Andrew has been afforded the ability to focus his efforts on the nonprofit sector. He has scaled two small nonprofits to over $1M a year in revenue/donations and is working towards a goal of raising $25M for charity. He now spends his time with his wife in New Orleans, raising money for nonprofit organizations, helping educate readers and listeners about the power of Real Estate Investing to achieve Financial Independence, and traveling the world.

Key Points From The Episode:

• How Andrew Kerr managed to build a business from the ground up.
• Real Estate as a tool for financial security.
• Transitioning from actively investing in syndication to passively investing.
• Deleveraging to limit risks and exposure.
• Adapting a forced savings strategy.
• Learning a lot of lessons from multi-millionaires.
• Doing due diligence upfront on a deal.
• Passively investing doesn’t equate to complacency.
• Funding a non-profit through passive investing and doing the work that you love.
• Personal growth happens when you learn from your mistakes.

Books mentioned:

1. Profit First by Mike Michalowicz

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Today’s Ritter On Real Estate Guest is Lisa Hylton. Lisa is the founder of Lisahylton.com and real estate investment company that provides opportunities for entrepreneurs and business owners to invest in tax-efficient real estate investments. 

Lisa is also the host of The Level Up REI podcast which airs every Tuesday and the first Thursday of each month for Conversations with Passive Investors. Lisa Hylton is a CPA with approximately 10 years of audit experience from PwC and 4 ½ years as a controller on private equity real estate funds at a Los Angeles Investment Firm, Ares Management.  Her current mission is to provide podcast episodes and investment opportunities for entrepreneurs and business owners to level up their businesses and real estate investing to build long-term wealth and financial freedom.

Show Notes:

• Growing up in a property management family.
• Buying her first home in her early 20’s.
• Learning the value of a property management company.
• Taking a private equity job auditing and controlling funds. 
• What is Syndication and how it looks at a fund level.
• How the fund model works.
• Determining if passive investing is for you.
• How to determine investment strategy when investing in syndication deals.
• Setting realistic expectations. 
• How investors should look at their deals. -Lisa’s checklist.
• The importance of investing for cashflow and appreciation.
• Decreasing execution risk.
• The waterfall structure or a syndication deal.
• Red flags to look for when investing in a syndication deal.
• How funds and investors are compensated. 
• Recession-proof investing tips. 

Books mentioned: 

The 42 Week Year by Bryan Moran and Michael Lennington

Contact Lisa: 

Instagram: @lisahyl, @thelevelupREI

Facebook: https://www.facebook.com/lisa.hylton.92

The Level Up REI Podcast Group: https://www.facebook.com/groups/787834775013292/

Linkedin: https://www.linkedin.com/in/lisa-hylton-0b992815/

Twitter: https://twitter.com/LisaHylton16

Check out her Passive Investing Made Easy video and blog series and Investing Passively in the US video and blog series at www.lisahylton.com and on her Youtube page called Lisa Hylton. 

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https://hudsoninvesting.com/

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Today's #RitterOnRealEstate guest Joshua Ferrari specializes in raising private capital, locating, negotiating, & acquiring value-add multifamily assets, & teaching others how to follow in his footsteps. Joshua’s ability to raise private money has gotten him the title of primary capital raiser at over $7,000,000 raised in less than 3 years of his real estate journey. He currently has over $5.5MM AUM which equates to 91 units in my portfolio. 

Key Points From The Episode:

• How Joshua Ferrari started into real estate investing from scratch and learning from mistakes along the way.
• Learning about Syndication and taking advantage of the concept.
• Partnering with people who have the right skill set to get the job done.
• Picturing out what your lifestyle is going to look like.
• Taking advantage of having a localized business.
• Creating a mindset shift in upscaling the business.
• Just get started and learn things as you go.
• Writing a vivid vision for life and business.
• The importance of getting everyone on the same page to chase the same thing.
• The Importance of having systems and processes in place.
• Getting reliable referrals to get insights and perspectives from.
• How persistence pays off.

Books mentioned:

1. Best Ever Apartment Syndication Book by Joe Fairless and Theo Hicks 
2. Vivid Vision by Cameron Herold

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Full-time real estate investor and real estate agent from Fort Worth, Texas. Max began his real estate career wholesaling, completing fix and flip rehabs, and acquiring rentals. After completing over 100 deals in multiple states, he looked for a better way to more easily scale his real estate business and started writing lead generation books. 

Max, a best-selling author of multiple books, travels the U.S. teaching people the advantages of using books to enhance their lead generation and lead conversion. Max is a member of multiple masterminds and some of his titles include consultant, teacher, investor, real estate agent, author, speaker, and expert panelist.

Max earned his BBA in Finance from the University of Texas in Austin and his MA in teaching from Louisiana College. He has over 15 years of experience in real estate, finance, and teaching.

Key Points From The Episode:

• How Max Keller started investing in real estate from being a math teacher.
• Having a niche market is important.
• Understanding your goals as an investor.
• The power of trust in making deals happen.
• Educating people is the best way to get clients.
• Knowing whether the investment matches what you want and what’s right for you.
• Evaluating a person is important for private lenders.
• How building a connection is more important than immediately closing a deal.
• Don’t get hung up on the asset class.
• Authenticity and trusting your instincts.
• Nothing is passive. Everything is work.
• Knowing your backup plan when Plan A doesn’t work.
• Having a bigger purpose in life and business.
• The joy of helping people is more fulfilling than just making money.

Books mentioned:

1. It Takes What It Takes by Andy Staples and Trevor Moawad
2. Essentialism by Greg Mckeown
3. Deep Work by Cal Newport

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Mitch Stephen has been a self-employed RE investor for 25+ years. His real estate investing career started at the age of 23 when he read “Nothing Down” by Robert Allen.

Mitch Stephen has purchased well over 2,000 houses in and around his hometown of San Antonio, TX. A high school graduate, who never stopped learning. Books, CDs, seminars and webinars were his classroom.

Today he specializes in owner financing properties to individuals left behind by traditional lending institutions and giving new life to properties that scar the neighborhoods.

He has perfected a method of achieving cash flow without having to be a landlord and without having to rehab properties. He’s mastered the art of raising private money and the classic “Nothing Down” deal.

He has pioneered the idea that you don’t have to give discounts to sell your notes.

A passionate speaker who delivers the message of integrity first and profits second; an expert at keeping it simple and explaining, in plain English, the theories that made him financially independent. He is always an inspiration to those around him.

Mitch has been interviewing for his podcast for over 3 years and has more than 400 great guests.  Link here: www.1000houses.com 

Key Points From The Episode: 

• How Mitch Stephen stumbled into real estate investing. Buying 45 houses his first year.
• Seeing opportunities everywhere as an entrepreneur.
• Buying his first 100 houses with credit cards.
• Owning multiple other businesses allowed him to invest in real estate.
• How to develop partnerships with other individuals.
• Developing “Cash Forever” strategies.
• The advantages of using seller financing.
• Doing on average 100 deals per month.
• Why buying properties undervalue is essential. 
• Money is made on the buying of a property, not the selling.
• Loaning money to other real estate investors. 

Books mentioned: 

• The Bible
• Think & Grow Rich By Napoleon Hill
• Nothing Down By Robert Allen

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Tim is a 16 year veteran of the New York City Fire Department (FDNY) and currently serves as a lieutenant in the borough of Queens. Until recently, he also worked part-time as an emergency room RN at a level 1 trauma center. He brings years of real-world management and leadership experience to his real estate investment career.

Tim’s initial goal with real estate was to create passive income and in turn, be able to spend more time with his wife and three little girls. After partnering on a multifamily property he saw first-hand the power of real estate investing as an opportunity to create passive income and build wealth for his family.

He started Cityside Capital with the goal of not only growing his own portfolio but also to help others realize the power that real estate investing can have on creating passive income and building wealth.

Cityside Capital has $79 million of assets under management including 561 multifamily units. Tim has also invested as a limited partner in 256 multifamily units in Texas and in a large retail supercenter in Tennessee.

Tim attributes his early success in real estate investing to education, investing in coaches and mentors, and surrounding himself with like-minded people.

In April 2021, Tim became an Amazon #1 bestselling author in a book he co-authored with other authorities such as The Real Estate Radio Guys’ Robert Helms, Jim Rohn’s 18-year business partner and master marketer, Kyle Wilson and many more, called "Bringing Value, Solving Problems and Leaving a Legacy". 

https://bit.ly/Podcast-One-Pager

https://www.linkedin.com/in/tim-lyons-cityside-capital/

https://www.facebook.com/tim.lyons.712/

https://www.facebook.com/Citysidecap

Key Points From The Episode: 

• Working as an ER nurse, firefighter, then becoming an investor.
• How 9/11 impacted Timothy’s life and family. 
• Educating himself on real estate... Reading Rich Dad Poor Dad
• Closing his first multifamily deal.
• Overcoming limiting beliefs.
• Understanding that you can't save your way to wealth.
• The power of equity, using other people's money.
• Learning about taxes.
• Scaling past small multifamily deals.
• Realizing that real estate is a team sport.
• becoming a general partner/syndicator.
• How to overcome limiting beliefs.
• Real estate investing being the best way to build wealth. 

Books mentioned:

• The Story Brand by Donald Miller

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Todays #RitterOnRealEstate guest is Paul Moore. After a stint at Ford Motor Company, Paul Moore co-founded a staffing firm where he was finalist for Michigan Entrepreneur of the Year two years straight.

 After selling the staffing firm to a publicly traded company, Paul Moore began investing in real estate, founded multiple investment and development companies, appeared on HGTV, and eventually completed 85+ real estate Investments and exits, including a large multifamily development. He has contributed to Fox Business and is a regular contributor to Bigger-Pockets, producing live video and blog content regularly. 

Paul also co-hosted a wealth-building podcast called How to Lose Money and he’s been a featured guest on 200+ podcasts. Paul is the author of The Perfect Investment – Create Enduring Wealth from the Historic Shift to Multifamily Housing and Storing Up Profits – Capitalize on America’s Obsession with Stuff by Investing in Self-Storage. Paul is the Founder and Managing Partner of Wellings Capital, a real estate private equity firm. 

Key Points From This Episode: 

• Stumbling into real estate in 2000 after working for Ford Motor Company and selling a staffing company. 
• Early interests in real estate syndication. 
• The importance of good margins when buying and selling deals.
• Acquiring assets from Mom & Pop sellers.
• The value-add opportunities that come with buying from Mom & Pop sellers.
• Undercapitalized and mismanaged deals.
• Why mobile home parks are underrated investments. 
• Forced appreciation and why it's important when investing in real estate. 
• The importance of time management. 

Books Mentioned:

• Mastering the Market Cycle by Howard Marks
• The One Thing by Gary Keller

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Rafi Mizrahi is an out of country real estate investor. He has been investing since 2010 and has developed the skillset to overcome investing out of country. He has extensive experience in raising money from out of state investors building and managing professional teams all over the country, Property Valuation, negotiating an acquisition. Rafi started as a single-family investor, and since 2010 he has been involved in more than 300 transactions as the acquisition partner and as a capital raiser. In 2017, he shifted the focus to multifamily and he syndicated 766 units worth more than $50 million dollars.

Key Points From The Episode:  

• Rafi starting off as a java developer, getting laid off in 2007.
• How reading Rich Dad, Poor Dad changed his life.
• Shifting from investing in Israel to USA.
• The amazing knowledge transfer in America.
• Figuring out how to invest in American deals from Israel. 
• Starting in single family, transitioning to multifamily.
• Problems that come with trying to scale in a single family niche.
• The importance of buying properties undervalued.
• Doing due diligence on individuals, in addition to the properties.
• How to build a team from another country. 
• Finding good mentors.
• What to look for in a property manager. 

Books Mentioned: Rich Dad, Poor Dad By Robert Kiyosaki 

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In todays episode of #RitterOnRealEstate we sit down with Jim Monk. Jim is the President of CLOZZITS. CLOZZITS has developed a program to increase rents 3%-5% while improving the Net Operating Income (NOI) and Asset Value. All without multifamily owners laying out much capital. 

His goal is to differentiate beyond the normal amenities and tap into a new area of construction development, renovations, and property management. In this conversation, Jim shares his stories and experiences he’s picked up as a business owner navigating the multifamily industry. Jim expertly discusses what led to this passion, supporting information and why companies like Katerra, Harbor Group, MMA, and Pinnacle are seeing space optimization as a game-changer in turns, make-readies, and new construction. Creating more space for residence is more of an issue than most owners think, and Jim is changing how investors, owners, and managers look at the closet, which can provide an immediate rent increase.

Key Points Discussed In This Episode: 

• The importance of multifamily finding additional revenue where they’d least expect it.
• Running 3 financial service companies & transitioning away from those businesses before 2008.
• Discovering the importance of closets in investment properties.
• How higher quality closets lead to 3-5% rent increases in B-C class properties.
• What goes into improving rental closets. 
• The positive impact closet renovations have for the tenant.
• Material costs affecting capital expenditure budgets
• Owning 5,000 units.

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