Secret Sauce for Success

LaDawn is a real estate agent and an investor.  She has some great tips on how to be successful.  

She has a good business background to run your business as your business. 

She likes working with people and her clientele is mostly through referrals. 

She had some extra money and bought a rental house and still has it today. 

She always wants to be her best client. 

LaDawn currently has 8 doors and manages the local ones herself.

She looks for communication, fees, what is their screening and does the property manager go and visit the home of the applicant. 

She likes self directed IRA's to invest in real estate. 

She bought a Duplex in Texas in 2008 and sold in 2020. She held it right through the 2008 housing crisis. 

She bought a fixer upper foreclosed property in 2014 and sold in 2018 for nearly 2x gain. 

She bought two local properties through a 1031.  In 2019, She sold one of those and bought 6 properties in Kansas City. 

Building a team - Networking, surround yourself with good people that you trust. 

CPA, attorney, lender and title company are very important to your team. 

She is investing money through a crowdfunding investment group, Direct Source Wealth.  She wants her money to be working to make her more money, i.e. no lazy $. 

Secrets Sauce

Research, talk to people in the know (network), be persistent and stay the course. Buy the first rental property.   

She doesn't give up! 

Her favorite books are: 

The richest man in bablyon - easy read about investing. 

The millionaire next door by Thomas J Stanley & William D Danko

Live below your means. 

Contact Info:  720-371-8798

email: [email protected]

Great interview with Brooks O'Hearn

Real Estate Investor, Real Estate Agent and Personal Coach

Played the game "CashFlow" while on family vacations. His parents bought Rich Dad Poor Dad for the kids friends. 

He decided to get his education in real life real estate instead of traditional college. 

Started his real estate endeavors by coaching and then started investing with his family. 

Brooks decided to get his real estate license to gain more exposure to real estate and gain multiple streams of income. 

Brooks has done some wholesaling and mostly focused on fix and flips. 

Now he has been expanding into commercial properties using the BRRR method. 

He has been raising cash to take advantage of potential market changes and being more conservative with the ever changing real estate landscape. 

He has been focused on shorter hold times to reduce exposure.  

Keeps his eye on the political landscape. 

Coaching - Internet and lead generation, social media branding and having the right mindset to think for yourself.  He helps remove the barriers that impede your growth.  

Secrets to his Success

Having his real estate license opens doors through access to the MLS, networking with other realtors, gives you control over the buy/sale of your own property and adds credibility to his business. 

He uses a small community bank to reduce the season period from the conservative 6 months down to around 3 months, after getting tenants in the place. 

Get multiple bids to get the best price/quality on your project.

Get a good team that consists of: 1. Buyers 2. Sellers. 3. Lenders. 4. Contractors. Contractors seem to be fluid, so always have good connections through having multiple bids.  

Your CPA is worth every penny you pay them.  

Lead generation, digital marketing, communication and negotiation. 

He is always learning and taking in new information and see how it can apply to what he is doing. 

He has a desire to help people succeed.  Operates out of an abundance mindset. 

His favorite books are: 

He reads How to win friends friends and influence people by Dale Carnegie once a year. 

The 5 love languages - Applies to communication

The 10x rule by Grant Cardone

Crushing it with Gary Vaynerchuk. 

He likes Audio books, Video and Podcasts and loves to golf. 

Contact info: Brooks OHearn - On all social media sites. 

A great show with Elissa Tiprigan that you don't want to miss.  Besides being involved with real estate, she has a online subscription box business called "Catholic Family Crate". 

She has a 4 year degree in Personal Finance and is married to David Tiprigan from Episode #1

She liked the AirB&B model, so they rented out their basement to offset their mortgage. 

They lived in a tiny house and rented out both the upstairs and downstairs of their primary house. What a sacrifice to increase their cash flow. 

She built up her online subscription box business to a point where she could quit her finance job.  

Lessons Learned: 

Maybe not the best situation to raise little kids above an AirB&B. 

Secrets to her Success: 

Live below your means and save money, but reward yourself. 

Having cash in the bank so you can take advantage of an opportunity. 

In your 401K plan, at the minimum, get the company matching money.  

Automated the AirB&B process to minimize the time required to manage it. 

Get started and then tweak the vision to where you want it to be. 

Interview with David Tiprigan, a local Denver south metro real estate investor.  

David and Elissa started in real estate by AirB&B'ing their Primary Basement. 

Once they tasted success there, they researched and branched out and looked out of state. 

They picked up five class C Duplex's in Texas with his family and eventually sold. 

They picked up a house AirB&B in Texas as well. 

They took advantage in a primary move and not paying capital gains to upgrade their primary house that has room for value ad. 

They financed a short term loan for 2 years.  

He tried renting out his truck through TORO and had limited success. 

His secrets to success are: 

Write a business plan and evaluate your progress.

Have cash on hand to be ready for an opportunity. 

Have a good team

Lessons learned: 

Long distance & poor property manager or poor relationship. 

Subscribe to receive emails from hard money lenders

AirB&B App: Your porter, VRBO, AIRB&B, Booking.com, 

Property Management Apps: HomeAdvisor and Thumbtack

Books: 

Rich Dad Poor Dad - Buy Assets versus liabilities. 

Millionaire real estate investor and HOLD by Gary Keller

Contact David Tiprigan via Facebook 

Doug and I want to find out what the Secret Sauce is for all those Successful people out there. 

Hopefully, you will benefit as we find the secret ingredient(s).