The Cashflow Project

Join Vince Gethings, as he chats with Robert Preston as they chat about Robert’s transition from being a Marine to building his wealth. Robert shares the psyche of having to be deployed as a single person and its difference to already having a family. He decided that he can do better on his own, financially speaking, and left the Marines to pursue investing in real estate. Even when he was still in the Marines though, Robert always knew he had an entrepreneurial spirit, he once delved in jet ski rentals while in service but didn’t go very well. Regardless, he knew he wanted to do business. A lot more on the psyche of Robert Preston in this episode so stay tuned for more!  

 Robert’s point-of-view on RV parks: 

Robert shares how one of his investments is a hybrid RV / mobile homes park, which in his opinion is more fun as his family loves to travel in an RV. He gets to work looking for properties while his kids feel like they’re simply on vacation. RV parks though allowed for more flexibility. Robert shares how they were getting outbid with apartments even when they tried to play safe with the business. Back then, looking at the math, Robert decided that apartments. He shares more on the different advantages of an RV park such as the probability of having short rental income via Airbnb, and the lesser cost on the engineering of plumbing, electrical, and other utilities.  

Robert further shares the flexibility of the business with the different opportunities they can delve into. One of which was inspired by how his family actually loves camping, having an RV himself. Most of their relatives too, love camping, but they do not have an RV, so now they rent out units for short term, and a simple change in the marketing strategy allowed for bigger engagement already. Especially for properties that do not have any social media marketing already set up, Robert says that even a drone shot of the place is already a big change.  

About Robert Preston: 

Robert Preston grew up on a farm where he learned self-reliance, independence, and gratitude from a young age. These values carry through everything he does today. As a young adult, he joined the Marines to fly planes because he wanted to serve the country and do so in the coolest way possible. He was a V-22 and T-6B pilot and was also a naval flight instructor. 

These paths taught him the value of making deep long-term commitments, which he brings to his family, his business, and their investor partner relationships each and every day. Armed with these ideals and values that he try every day to make the world better than how he found it.  

He finished B.S Economics at Clemson University and became Principal and Founder of Climb Capital, a real estate private equity firm focused on improving workforce housing to enhance the lives of their residents and to provide steady returns to their investors. They are actively buying apartments, mobile home parks, and RV parks on the Gulf Coast and the Southeast. 

Outline of the episode:  

• [00:26] Robert Preston, background and present endeavors 
• [09:12] Robert’s entrepreneurial efforts 
• [13:30] Why Robert chose RV parks and advantages 
• [21:49] More on the flexibility of the business with an RV park 
• [25:57] The challenges Robert faced in his investing career 
• [32:34] Fire Round with Robert  
• And many more! 

Connect with Robert Preston: 

Website 

LinkedIn 

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Join Duc Ong, as he chats with Marius Skonieczny, as they chat about why Marius switched from real estate to stocks. Marius shares that since he finished college, he immediately came into real estate investing, even learning how to appraise before investing, and that’s while he’s also studying the stock market, reading both Poor Dad Rich Dad while digesting the works of Warren Buffet. In this episode, Marius will be sharing what he knows about microcap investing. He shares what microcap means and what makes it more personal rather than investing in big companies like Apple, Microsoft, Tesla, etc. He points out the fact that with microcap companies, the CEOs themselves will be the ones explaining the business to an investor which gives investors a better idea of what they’re getting into and have a more personal connection with the company. More on this notion in this episode so be sure to stay tuned!  

Understanding MicroCap: 

Basically, a company that has a market cap or equity of less than 100 Million, as shared by Marius. He says that the advantage of investing in a microcap company is that they are not being scrutinized by analysts, he can do his own research by contacting customers, former and current employees to get a better point-of-view on what the company can do. He shares more on this including his most successful trade which happened because no one was paying attention to how much the company was growing.  

Marius also shares different strategies for handling microcaps. He shares his past experiences about how microcaps suddenly grew in value because no one is paying attention to them that much and most of which are private companies as well which further takes them away from public eye. He also shares that technical analysis of a microcap company is not all that advisable since they do not have as much liquidation data as bigger comapnies. Further information as well is included about Marius’ exit strategy and how he handles inflation rates.  

About Marius Skonieczny: 

Mariusz Skonieczny is a professional investor and the founder of Classic Value Investors, MicroCap Explosions and creator of Value Investing University. Mariusz graduated from Indiana University in 2003 with a finance degree. From 2003 to 2008, he was in the residential and commercial real estate industry as an appraiser and broker. During the 2008/2009 financial crisis, he made the courageous decision to leave the industry and start Classic Value Investors. He has been investing in the stock market since 2008, starting with only $10,000, 10 years later he reached $1.1 million. By March of 2021, his accounts reached over $4 million! He is also the author of 11 books on investing.  

Outline of the episode:  

• [00:56] Marius’ switch from real estate to stocks 
• [03:39] Understandingmicrocap 
• [09:20] Competitive advantage in microcap investing 
• [13:29] Most successful trade Marius did and the process of selecting 
• [17:21] How to analyze microcap companies and the exit strategy 
• [21:36] Marius’ sale and inflation strategy for microcaps 
• [26:54] Fire round with Marius 
• And many more! 

Connect with Marius Skonieczny: 

Website 

Youtube 

Twitter 

Connect with Cashflow Project! 

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LinkedIn 

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Join Vince Gethings, as he chats with Bill Ham, the author of Creative Cash, as he chats about his endeavors since the last episode he was on the show. He shares how he doesn’t see a decline in value for the future of real estate investing, he believes that real estate is always good. Number dwindle as a whole for the country but certain cities will always have better numbers in his opinion. He also shares how he thinks there will only be a slowing down in transactions and along with that, stricter criteria from the lenders. But that’s just the initial part of the interview! Bill will share more about his psyche with writing his next book, Real Estate Raw, an unhinged book of truths about building your portfolio so stay tuned!  

Real side mentioned in Real Estate Raw: 

Bill shares about his next book, Real Estate Raw which teaches everything about building a portfolio, whereas his first book Creative Cash is how to fund it. Bill exclaims how the book talks about the hard truths of building a portfolio with every step necessary to be able to achieve your goal portfolio. He shares how he already has plans on writing Real Estate Raw while writing his first book because they are interconnected with the other book filling in the gaps of the other.  

The conveyor belt model:  

Vince brings up the model that Bill taught him which is the conveyor belt model which shows a very holistic approach to a system that shows how you can gain for your portfolio while also seeing the cash flow in a set amount of time. In this example, Bill uses a span of 5 years while explaining how the model works. This topic on the model even touches on the aspect of having legacy assets and why they wouldn’t work if you’re using somebody else’s money.  

About Bill Ham: 

Bill is the author of Creative Cash, The Complete Guide to Master Lease Options and Seller Financing for Investing in Real Estate. The book provides an in-depth approach to using creative financing techniques and shares stories of how Bill closed on these first 400 units without working with a bank or qualifying for a loan.  

Outside of being a published author, Bill is also the Chief Operating Officer at Broadwell Property Group, the owner/operator of Phoenix Residential Group and Phoenix Residential Management, and a Deal Expert Coach for Jake & Gino. 

In his over 15 years of experience working with these great companies, he has created a portfolio of over 1000 units while growing Phoenix Management to a team of 15 staff members. He has taught real estate for the past 6 years and has dozens of highly successful students. Bill uses his extensive real estate experience to teach his students the “real” side of real estate. 

Outline of the episode:  

• [00:43] Amazon Best Selling author, Bill Ham 
• [02:46] Bill’s thoughts on the first quarter of 2022 for REI 
• [09:04] Writing the next book, Real Estate Raw, and other projects 
• [14:27] How to gain Bill’s unique perspective 
• [16:01] The conveyor belt model and how it builds a portfolio 
• [21:07] What are legacy properties 
• [25:09] Bill’s advice with winning deals in a competitive market 
• And many more! 

Connect with Bill Hamel: 

Website 

LinkedIn 

Coaching with Bill 

Connect with Cashflow Project! 

Website 

LinkedIn 

Youtube 

Facebook 

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Join Vince Gethings, as he chats with Bill Hamel who purchased his first property at 21 years old, as they chat mostly about the power of focus. Bill Hamel shares how in 2021 he was able to sell 40 buildings and utilize 1031 exchanges. Before he reached that point though, he had to go through the Great Recession where he already has a good portfolio and was so focused on protecting it that he lost all momentum. With more than 2 decades of experience in the field, Bill definitely had his share of dark times before realizing how powerful focus can be when mastered. He once wrote a manual for his previous company and in the end, left it due to being burnt out for not letting go of control. This episode is filled with different details on Bill’s mindset when it comes to business so be sure to stay tuned! 

Giving up control is healthier than holding onto it: 

Bill shares how he once worked on an operations manual. A small document that quickly turned into a system of procedures that helped guide his employees. But the challenge for Bill came knocking eventually. He had a hard time letting go of the control and was always on the lookout for his employees, even stating that he never allowed them to fail, which inevitably meant they were never allowed to properly grow. That kind of leadership that he pulled on his team burnt him out. He would immediately take over a task that is not being done the way he wanted and that certainly became toxic for himself in the end. After 8 to 9 years, when he finished the manual, he just went up and left, letting go not only of control but also of being a property manager.  

Mistakes don’t make the business perfect but smoother: 

Before the fire round with Bill, he shared two of the biggest mistakes he’s done on his entire journey in the field. One of which was that they weren’t so strict with the rules that they set when selecting tenants. They had a certain allowance for mishaps with the information that applicants hand over to them and that caused problems for them. This made Bill do another mindset shift and be properly professional with the system that they are following in order to avoid further mishaps as it not only makes business smoother and easier but also lowers a lot of risks.  

About Bill Hamel: 

Bill Hamel is an expert at deal selection, apartment rehab and value add opportunities. We have vast knowledge in deal flow, creative financing, and property management ensuring a routine process of finding, funding, and managing multi-family apartments. 

Hamel Real Estate is a real estate investment company focusing on acquiring large multi-family properties, providing investment opportunities to potential investors to build wealth passively with multifamily properties. 

Outline of the episode:  

• [01:23] Who is Bill Hamel and how he started with real estate investing 
• [07:44] The thought process of moving from small-scale to large-scale 
• [13:55]  Importance of being able to pause and recalibrating focus 
• [17:41]  The biggest mistakes Bill did and how he recovered 
• [24:23] Fire round with Bill Hamel 
• [27:32] Bill’s advice, have a great “why?” 
• And many more! 

Connect with Bill Hamel: 

Website 

LinkedIn 

Facebook 

Connect with Cashflow Project! 

Website 

LinkedIn 

Youtube 

Facebook 

Instagram 

Join Steve Ferrios, as he chats with Ryan Barone, CEO, CTO, and Co-founder of the RentRedi App. Ryan talks about how he was able to easily find an apartment in New York but was not aware of how hard it is to keep one. From this point moving forward, Ryan figured that it was actually a very common issue for tenants in New York thus, RentRedi was born. It was primarily used to help him and his friends process the application for a new apartment until a landlord reached out to them, giving Ryan the initial piece of crucial expansion for the app’s services. More on the App and Ryan’s mindset on the Fire Round in this episode so be sure to stay tuned!

RentRedi was a solution to a common problem:

Ryan made the RentRedi app to make the application process for apartments easier for him and his friends. This was after he realized that having to look for a new place is a frequent occurrence in New York City. Not much longer, he had landlords trying to connect with him after they learned of the app he developed, and soon enough they now have operations within all the 50 states. Might be a stroke of perfect coincidence but the app he developed just to make apartment hunting easy now is a business that continuously grows, providing services for rent collection, maintenance, listings, lease signings, and many more functions.

Constant feedback for constant growth:

Ryan’s app from the getgo was a product of constant feedback. It was only supposed to be used by him and his friends until a landlord asked to be involved as it was helpful for them as well. From then on they have continued to improve and broaden the lists of functions and services that the app provides from both landlords and tenants. A single point of problem that was shared by a small circle of people is now being solved by something that covers the US and is already receiving demand from European landlords for possible expansion of the app. Although this wouldn’t have been possible without Ryan’s constant effort, it would have been so much harder had he not been open to feedback.

About Ryan Barone:

It all started when CEO Ryan Barone lost out on a great apartment in New York City. A double major, top of his class, and with an internship on Wall Street - getting documents for rental applications shouldn’t have been a problem. But it was. And it wasn’t just an issue for him.

Speaking with friends, he found the application process for rentals was difficult for everyone, tenants and landlords. Gathering and storing documents and having them easily available for landlords was a problem - and RentRedi became the solution.

 Ryan began developing the RentRedi mobile app. However, as he met with more landlords, the difficulties of the renting process became more obvious. It was clear many of the hurdles landlords encountered while managing their rentals could be streamlined with the use of technology for landlords.

What started as a mobile application app for tenants had developed into a sleek, comprehensive dashboard built for landlords by landlords. Now, RentRedi is an all-inclusive landlord-tenant app that helps landlords go mobile and manage rentals from wherever, whenever.

Outline of the episode:

●    [01:30] Ryan’s journey into entrepreneurship through his app

●    [05:09] Finding the biggest problems and biggest solutions from both sides

●    [11:33] Other projects or efforts that Ryan is currently working on

●    [15:10] Advice for budding entrepreneurs

●    [17:51] Fire round with Ryan

●    [19:15] Ryan’s advice to people working towards financial freedom

Connect with Ryan Barone:

Website

LinkedIn

Facebook

Connect with Cashflow Project!

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LinkedIn

Youtube

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Join Duc Ong, as he chats with Arn Cenedella, and his motivation with creating a passive income system that also allows him to utilize his passion in helping people by simplifying brokerage and investments for his clients. In this episode, Arn shares so much about his knowledge in a highly competitive market which is Carolina. He shares about the deals he’s already closed and how he handled it with the numbers that are currently the state of real estate investing the Carolina and what future he sees with it. This episode is highly technical with all the information Arn shares, especially regarding figures and time settings so be sure to stay tuned!

Authenticity is the key:

Arn shares that working with integrity helps attract similar-minded people and in turn creates a very healthy and strong relationship that’ll help make the playing field competitive but not unattractive. Success, as Arn believes, comes along for those who work with a real desire to be able to be of help to clients. Trust allows for better communication and ease in working together which has always been Arn’s specialty, in creating relationships that last by building confidence with his team.

Synergy to put the details in the big picture:

Arn shares that his superpower is the ability to put together people to work towards a certain goal. He shares that he’s typically the person who sees the product, the big picture, and has since learned to put together teams that allow for him to achieve the goal of the company. Of course, motivating the team comes along naturally with bringing them together in order to achieve their goals.

About Arn Cenedella:

Arn Cenedella, the founder of Spark Investment Group, is a real estate expert with more than four decades of experience, including 35 years as a Realtor, navigating the unique real estate landscape in Silicon Valley, CA. During that time, Arn invested in real estate ranging from single-family homes and fix-and-flips to land subdivisions and condominium conversions to commercial multi-family properties.

Through these experiences, he developed a passion for helping others achieve their own financial freedom through investing in multi-family real estate syndications. Through Spark Investment Group, Arn is putting his decades of real estate expertise to work for his clients, helping them reach their goals and attain the lives they’ve always wanted to live.

At Spark Investment Group, they have the knowledge and experience needed to help you achieve financial freedom and turn your dreams into reality.

With Spark, you’ll learn about — and invest passively in — real estate syndications (also known as group investments) to create ongoing cash flow, equity, appreciation, and tax advantages.

If you’ve invested in real estate before, we’ll help you simplify, diversify, and grow your portfolio so you can achieve your goals faster.

Outline of the episode:

●    [01:04] Arn’s motivation to build passive income and the markets he’s involved in

●    [05:31] How his brokerage experience helps with investments

●    [06:55] Arn’s advice for agents looking to invest in real estate

●    [10:39] His latest investment in Carolina

●    [15:43] Arn’s forecast on multi-family investments

●    [17:03] Exit strategy and terminal cap rate projections

●    [21:32] Fire round with Arn Cenedella

Connect with Arn Cenedella:

Website

LinkedIn

Facebook

Connect with Cashflow Project!

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Youtube

Facebook

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Join Vince Gethings, as he chats with Nick Earls and Eric DiNicola, good friends for almost 20 years that has always shared the same goal of buying a rental property for passive income but has learned how to scale up their goals and the product is the idea of condo development in Boston. Venturing into the condo development business, Nick and Earl’s projects are ground-up construction of condos instead of conversions. This growth and change in mindset allowed them to be open to the business and in turn make more money with the projects that they undertake. Other than condo developments, the pair will also share the details of other facets of the business that they do in this episode so be sure to stay tuned!

About Nick Earls and Eric DiNicola:

 Nick is the co-founder and managing principal of Winterspring Capital and has over a decade of experience in all phases of commercial real estate, including asset management, sales, new construction development, and property management. While building his own portfolio, he has also guided many investors down the path of multifamily investment, management, or development. He is an expert on underwriting and asset management in the multifamily space and also the author of the top-rated book “Making Millions through Multi-Family Development.”

 Eric DiNicola, co-founder and managing principal, has a strong financial background spanning over a decade. Eric understands the importance of investment diversification. He began working in public equity in 2010 and moved into the private equity markets where he worked on valuations and capital raising. Joining forces with Nick in 2015, he leveraged his investment experience and expertise to accelerate the growth of their real estate business. Heading up their acquisitions team, Eric leans on his extensive broker network to keep their deal pipeline full. 

Winterspring Capital is a real estate investment firm that focuses on multifamily and mixed-use development within the greater Boston area. They form real estate syndications for every new investment, which allows accredited individuals to invest with us completely passively. 

Their team sources new opportunities, underwrite deals, negotiates purchases, and implements the business plan for each property we purchase. Their investors get to share in all of the benefits of owning real estate without having to do any of the work themselves. We also offer the opportunity for qualified individuals to invest through their self-directed IRA.

Outline of the episode:

●    [01:01] About Nick and Eric’s shared goal and how they reached it

●    [04:50] The structure they follow in making deals and details on seeing it through

●    [13:13] Moving forward from one project to another, baptism by fire

●    [19:29] Office conversion side of the business

●    [25:06] How they utilize tax credits

●    [29:34] Nick and Eric’s take on a diverse portfolio

●    [36:18] Book recommendations for the viewers

●    [40:43] Nick and Eric’s remarkable traits and talents

●    [48:11] Advice to professionals working towards financial freedom

Connect with Nick Earls and Eric DiNicola:

• Website
• Eric’s LinkedIn
• Nick’s LinkedIn

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Join Vince as he talks with Anthony Scandariato about carving your own path. Anthony is the co-founder and managing principal of Red Knight Properties, a boutique multifamily and mixed-use real estate investment and property management company. Before building his firm, he had a full-time job under another real estate firm which made him knowledgeable about the industry. Today, Anthony shares how he took the calculated risk of making the jump to building his firm. There’s a lot to unpack, so stay tuned and enjoy the episode!

Take Risk, Make the Jump

Many people have full-time and good-paying jobs, and they have the capacity to make the jump and invest their way to financial freedom, yet they do not. The idea petrifies people into inaction, and they are playing it safely under the security blanket of a W-2 job. For Anthony, that is actually fine because it cannot be forced. But asked how he did it, Anthony credits it to his full-time job prior to his company. Working in a real estate company for six years gave Anthony the knowledge and foundation to leap and stand on his feet.

Going solo comes with risks, but Anthony’s was a calculated one. Because he had experience in the real estate industry, he was not clueless about how things should be done. Yet, Anthony still made mistakes along the way, which served as lessons the next time he encounters the same problems. Anthony also had his fair share of sacrifices before taking the trajectory of what he planted. It takes creativity to minimize expenses and live for free, but in the end, it was all worth the risk.

About Anthony Scandariato:

Prior to forming Red Knight Properties, Anthony Scandariato, who graduated from Cornell University with a Bachelor’s Degree in Applied Economics and Management, was a co-founder of Ridgeview Partners. He specialized in the retail space with a vertical model that provided flexibility to serve multiple customer segments with similar product lines through retail, wholesale, and production contracting channels. He acquired and developed the growth of 110+ retailers within first-year operations. He later moved on to acquisitions and asset manager vice president for Vision Properties, where he was directly involved and responsible for sourcing, negotiation, and managing the acquisition of $594M of Class A office assets.

Outline of the episode: 

●    [01:01] What different asset classes Anthony invests in and his strategy

●    [04:32] Anthony’s first full-time job and how he took the risk and made the jump

●    [08:53] Mistakes made despite a background in real estate

●    [10:51] Systematize to grow

●    [13:48] Anthony’s advice for those trying to get into real estate

●    [21:06] Book recommendation and Anthony’s superpower

●    [22:40] The biggest lesson Anthony learned over his career

●    [24:03] Tips for working professionals to reach financial freedom

Resources:

●    Website

Connect with The Cashflow Project!

●    Website

●    LinkedIn

●    Youtube

●    Facebook

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Join Vince as he talks with Adam Doran about taking control of finances to avoid getting caught in the tax trap. Adam is a former police officer who eventually became a wealth advisor and real estate investor. Building tax-free assets and alternative financial strategies with real estate investors are what he specializes in. Today, Adam gives out his mindset towards helping real estate investors and building primary wealth through real estate. There’s a lot to unpack, so stay tuned and enjoy the episode!

Tax Trap

“The industry is broken,” Adam said. The claim is traced back to the financial advising sector because, generally, control goes into the adviser and not the client. First, it takes away liquidity and access to capital, then it goes into accounts untouchable until 59, unwittingly setting a tax trap. Yes, the account grows bigger as time goes by, but no taxes were paid for that. Eventually, taxes will take a fraction of that hard-earned money that took years to grow. Moreover, it is estimated that in 10 to 20 years, tax rates are more likely to be higher than they are to be lower. So, with people unaware of what happens with tax-deferred accounts, what could be the future with higher tax rates?

Good thing Adam has a long-term strategy. He explains that asset accumulation is important, yet the most common mistake people make is solely focusing on accumulation. It ties back to the tax trap problem – it does not matter what is accumulated when there is no plan for distribution. There is a better chance of growing the money if it is distributed in different accounts rather than putting it all in one account. Adam shares a financial convention around a four percent safe withdrawal rate. In retirement, the idea behind that is when assets are started to be drawn, four percent of the total balance can be safely taken annually without running out of money. That is just the accumulation part. If that money is distributed to other tax-free assets such as life insurance, the safe withdrawal rate can be boosted to six to eight percent. Doing this not only avoids the tax trap but also grows the money more efficiently.

About Adam Doran:

Adam Doran is a former police officer-turned wealth advisor who has been investing in real estate since 2011. He specializes in a creative capital strategy for real estate investors to build tax-free wealth alongside their growing portfolios.

As a real estate investor, Adam started with wholesaling and accumulating single-family rentals using the BRRRR method in his home market of Kansas City. He transitioned in 2019 to multifamily and now owns 52-units with his partners.

Outline of the episode: 

●    [02:05] The process to be a wealth advisor

●    [07:22] What kind of wealth advisor Adam is

●    [14:50] Accumulation and distribution strategy for efficient money growth

●    [28:34] Obstacles faced and mistakes made throughout Adam’s journey

●    [35:45] Be selective of the people to work with

Resources:

●    Website

Connect with The Cashflow Project!

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●    LinkedIn

●    Youtube

●    Facebook

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