The Cashflow Project

Join Vince as he talks with Tony Castronovo about choosing entrepreneurship as his path to financial freedom. Tony is the founder and managing partner of Novo Multifamily Group, a multifamily real estate investment and asset management firm. He has been in the real estate space for over seven years, with financial freedom as his prime motivator. Today, he tells how he found out he was going down the right path that eventually gave him control of his life. There’s a lot to unpack, so stay tuned and enjoy the episode!

Take a Path to Traverse

In a world run by money, everyone has a common goal: financial freedom. That is primarily why Tony walked down the road to real estate. Living life on one’s own terms is the dream, and Tony saw real estate as the way to achieve such. In addition, real estate was something that would give him more control of his time, control of where he spends his energy, and see the fruits of his labor. Tony has been influenced by his father, who had run a business and always worked for himself throughout his career. In addition, his mother was there to support his father through the pros and cons, which is why Tony believes entrepreneurship has been embedded in him. Being able to drive his day and time on his own terms is what he wants, bringing him happiness.

Tony traces back to 2001 how he got the bug to do real estate. He had been doing construction in the 80s and 90s, and he was told by a coworker 20 years older than him that he had to find a better way to make money because they both earn the same amount. Because of that, he got started in real estate in 2001. Tony hustled in that business but had to stop when he found a new job. Fortunately, the spark got him back in 2014, and he has been in the industry since then. Tony knew what he wanted right from the start, which pushed him to take that path. Taking matters into his own hands eventually brought him the life he envisioned for himself and his family.

About Tony Castronovo:

Tony Castronovo, founder and managing partner of Novo Multifamily Group, is a multifamily real estate entrepreneur with over seven years of experience in acquisition, underwriting, contract negotiation, due diligence, syndication, capital raising, construction and renovations, operations, asset management, and overall asset strategy implementation. 

Tony is currently invested in over 650 units, including a combination of general partner, limited partner, co-GP, and independent ownership.

Tony is also a seasoned business management consultant, utilizing 25 years of experience advising clients on project portfolio investment management. He holds higher education degrees in Engineering and Construction Management.

Outline of the episode: 

• [01:26] How Tony got down the path of real estate
• [08:55] Tony’s first real estate deal using the BRRR strategy
• [16:23] Skip the conventional route
• [17:33] Lessons learned and progression out of single-family real estate
• [23:07] Tony’s jump from single-family to multifamily
• [31:43] The experience working with lenders and going through refinancing
• [36:11] Why exterior overhaul and curb appeal matter in a property
• [41:18] What the future holds for Tony
• [44:51] Tony’s advice to his 20-year-old self and his book recommendations
• [48:04] What superpower Tony has and the greatest lesson in his career
• [50:33] Advice for people working their way to financial freedom

Resources:

• Website

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Join Vince as he chats with Chad Tucker about the mindset on having an end goal. Chad is a real estate investor in Central Florida. Being a full-time firefighter was not enough for Chad, so it pulled him towards becoming a multifamily investor. Today, he explains how the mindset he calls “time freedom” will improve life. There’s a lot to unpack, so stay tuned and enjoy the episode!

Time Freedom

People in general work to earn money. The more money a person makes meant they live a stable life. Yet, the common scenario is that they lose time because they spend it more working. That is not what Chad wanted. He desires to take control of his time while at the same time earning. He wants to be in charge of his life. It took some mindset shift for Chad to add value to what he already does. While he already makes enough for a living, he realizes it is acceptable to want more. His end goal is to have the freedom to wake up every day and decide whether to go to work or take the day off to hang out with friends, visit his parents, or even take a vacation. Because of that end goal in mind, Chad got into multifamily real estate.

Back then, Chad was doing wholesaling. It was great, he admits, but it does not feel right for him. He tried fix-and-flips and single-family deals, but it felt like it took forever to achieve his end goal. Chad then looked at syndications and joint ventures in multifamily. He fits perfectly well. Chad wanted to bring value to people, and he is good at handling people under pressure. Right there and then, Chad found the long-term equity growth he wanted to achieve his end goal of time freedom.

About Chad Tucker:

Chad Tucker has been a multifamily real estate investor in Central Florida for the last year and a half. Currently, he is partnered on 16 units that recently closed. Besides investing in real estate, Chad is a full-time firefighter in the Orlando area, married, and has four kids. Chad uses his love of helping others and ability to work in high-pressure situations to make deals happen in two of the nation’s hottest housing markets (Tampa and Orlando).

Outline of the episode: 

●    [00:45] Chad’s background and how he started in real estate

●    [05:14] Why begin something with an end goal in mind

●    [09:43] How Chad found his 16 units

●    [14:12] Decisions and mind shifts to see one’s worth

●    [18:05] What kind of deal is a value add

●    [24:53] The power of networking and building relationships

●    [28:19] What is the seven-year term and what is its IRR target

●    [31:43] Some obstacles Chad faced on building his company

●    [33:27] Chad’s next move

●    [35:03] What Chad would advice his 20-year-old self

●    [38:49] Chad’s book recommendations, superpower and biggest lesson learned

●    [40:42] Tips for financial freedom from a busy working professional’s perspective

Resources:

●    Website

●    Email

Connect with The Cashflow Project!

●    Website

●    LinkedIn

●    Youtube

●    Facebook

●    Instagram

Join Vince as he chats with Tim Vitale as they share about finding your skillset and making sure to take advantage of them. Tim talks about how he deals with team setups, how he deals with differing goals between colleagues, and what he does to rectify differences in core values. Tim also shares about how he wishes he had someone to guide him better during his beginnings in real estate investing, acknowledging the importance of a mentor in the field which he now counters. Using his Facebook group he starts coaching sessions with a relatively small amount of people, wanting to connect on a personal level because he knows that what’s truly important in the industry is trust and strength of the relationships formed.

The difference in skills, similarities in values

One of the key topics for this episode is making sure that your energy syncs with that of your team. This will not only avoid conflicts in interest but also make sure that no one is pulling too much weight or is being lax in the hustle. Tim values the way his team always is in sync which is why he doesn’t experience having to rectify conflicts within the team. One other thing he focuses on is making sure that every person has a specific role in order to maximize the people he works with which helps with the productivity of the group altogether.

Mentors, environments, mindsets, effects

Having a mentor is what Tim wished, unfortunately after he’s now reaping success from his hard work. Nonetheless, he still acknowledges the fact that building relationships in the industry are crucial. Mentors will have their own connection that a person could have been involved in and allow the habits and mindsets to be ingrained into the new person that’s trying to venture out into real estate investments. More of which will be tackled in this episode!

About Tim Vitale:

the Founder and Owner of Upside Capital based out of Charlotte, NC. He is the AVP of Finance for an F500 Insurance Company and specializes in underwriting, analysis, and budgeting. Tim was born into a commercial real estate family and has owned rental property in the Charlotte area. He is also an active investor and syndicator in the Southeast USA.

Tim Vitale runs his own Facebook group Makin’ Moves in Multifamily in which he provides value to other investors and syndicators through educational and inspirational Facebook events and posts. He is also an Admin and Moderator for the My First Million in Multifamily Facebook group.

Outline of the episode:

[04:01] How to make a partnership work

[08:21] Why build passive income

[12:18] Importance of a mentor

[16:41] More on cash-out refinance and equity checks

[19:22] Importance of diversity in skill but unity in values in a team

[27:38] Where or how to start deals

[29:29] How the go-giver mentality opens opportunities

[34:11] Fire round, book recommendations, and other questions

Resources:

●    Website

●    Facebook Group

●    Instagram

●    LinkedIn

Connect with The Cashflow Project!

●    Website

●    LinkedIn

●    Youtube

●    Facebook

●    Instagram

Join Vince as he chats with Ethan Neumann and Harris Trail as they share how they found wholesaling right before the pandemic started and went from there to multifamily instead. Partners for a couple of years now, leading The Visioneer Group, They both look back into what their motivations were before that led them to opt-out of college and pursue real estate full time.

In this episode, Ethan and Harris will tackle the subjects of finding the right environment, including people, finding the right sources of information, following the right systems, keeping track of your progress, and making adjustments to ensure attainment in every set amount of time. This episode is surely packed with many tips and tricks to keep you on track in your entrepreneurial journey!

Put energy where it counts

One of the key topics for this episode is making sure that your energy is invested properly at the right point that is crucial to reaching your goal. Part of this is to remove the “middleman” in the processes or systems that you will be following, even when you don’t know you do. This also includes being smart about choosing where to invest, weighing the difference between making a lot of smaller investments or making a lesser amount but of big investments, only in this episode, the case would be about multi-family units or duplexes.

Systems are not limited to software

Starting habits with little details like getting up early sounds mundane but is actually not only difficult but also highly crucial to ensure that set goals will be achieved. Setting bigger-than-life goals is easy but to be able to achieve these goals. Systems of behavior and mindset are just as important as following systems in making deals and negotiations. Of course, software programs being used to help with the speed of which and organizational level of data that are being utilized are also helpful to sorting out data for business, only, finding the correct source of data can not only save time but also money.

 About Ethan and Harris: 

Ethan Neumann is an entrepreneur, podcast host, syndicator, realtor, and lifetime learner. He got started in real estate at the age of eighteen when he founded a single-family investment company that did 300k in revenue its first year.

He currently serves as the co-founder and Director of Investor Relations for Visioneer Capital where he coaches his network and fellow realtors interested in commercial real estate investing.

Harris Trail is a full-time entrepreneur, investor, and licensed real estate agent. Harris has been a part of the success of multiple startup companies since starting his entrepreneurial journey at age 16. He leverages this experience to develop efficient systems that scale, value-based marketing strategies, and acts as the backbone for Visioneer Capital's exceptional user experience.

Outline of the episode:

[01:56] How Ethan and Harris began with entrepreneurship

[03:49] How they shifted from wholesaling to multi-family

[06:55] What goals to set on how much amount time

[12:52] Importance of partnerships with aligned visions

[16:18] Importance of following a system

[19:57] The right place to get the right information

[25:34] How systems translate to deals

[39:00] How to make adjustments to reach goals

[41:38] Advice for young entrepreneurs

[46:42] Fire Round, book recommendations, and other questions

Resources:

●    Website

●    Facebook

●    Instagram

Connect with The Cashflow Project!

http://tricityequity.com/ https://www.facebook.com/tricityequity/?ref=br_rs https://www.instagram.com/tricityequity/ https://www.youtube.com/channel/UCmHtQmPpl5MtUG1LCpzIqGQ https://www.linkedin.com/in/tricity-equity-group-21877a1a7/

Join Vince with his guest Bernard Pierson as he shares how discovering his competitive advantage shortened his way to a successful real estate footing. Bernard knows what role the Latin American demographic plays in the real estate industry. Understanding their behavior in the real estate space here in the US—like it's the back of his hand—has been Bernard's weapon when it comes to forming perfect deals. In this episode, Bernard expounds on the American Dream, the boons and banes with entrepreneurship and real estate, his experience of jumping from LP to GP, and the potential of the Latin American market in the American real estate field. There's a lot to unpack, so stay tuned and enjoy the episode!

Outline of the episode: 

●    [02:05] Developing in Nicaragua and Costa Rica

●   [03:32] Is the American dream still valuable today?

●   [05:03] Entrepreneurship vs. Real Estate

●   [08:16] The challenges and obstacles to entering the multifamily space

●   [12:40] Taking the jump from an LP to GP

●   [18:12] On getting involved with asset management

●   [22:42] There is great potential in introducing Latin America to the multifamily space here in the US

●   [26:12] Every time condo prices rise…

●   [31:31] The book Best in Class, by Kyle Mitchell and Gary Lipsky

●   [35:43] Take real estate one step at a time

●   [38:46] Finding your competitive advantage shortens your way to success

Resources:

●   Website

●  Best in Class, Book by Kyle Mitchell, Gary Lipsky

●  Syndicating is a Bitch, Book by Bruce Petersen

Connect with The Cashflow Project!

●    Website

●    LinkedIn

●    Youtube

●    Facebook

●    Instagram

●  Hawaii Millionaires Mindset Blueprint: July 21 - 24, 2022 Four Seasons Ko'olina

Join Duc and Steve as they chat with Jeff Holst about living the best life by making the most of our investments. Jeff is an attorney, a real estate investor, and a business coach. He co-hosts and founded the Last Life Ever Podcast, covering many motivational materials and stories. As the original “Last Lifer,” Jeff has a passion for helping people live the best possible version of their lives, whatever that may look like to them. After all, at Last Life, they believe that we owe it to the world, our loved ones, and, most importantly, ourselves to live our best life so that others can do the same. And today, Jeff shares his journey, from rising from his health crisis, creating the side-eight investment structure, and finding success in multifamily real estate. As always, there’s a lot to take away from this episode, so tune in and enjoy!

About Jeff Holst:

Jeff Holst is a recovering attorney who spends his time as a podcast host and real estate investor. Jeff graduated early and with honors from Michigan State College of Law and now holds an M.B.A. At 30 years old, he checked the last item off his bucket list by climbing Machu Picchu. And after traveling the world, he felt like he was on top of the world. Jeff even had a beautiful house in the suburbs and a thriving law practice. 

Outline of the episode: 

●       [00:00] How Jeff Holst got started in his real estate journey.

●    [01:57] Jeff’s “why” behind building passive income.

●    [02:50] What his portfolio consists of and the markets he is in.

●       [03:24] How Jeff structures his partnered syndications.

●       [05:04] The advantages of using the side-eight structure.

●       [07:51] Where Jeff thinks the future of real estate is heading.

●       [09:21] The dynamics of our economy with money printing.

●       [12:04] How he ended up in Chattanooga, Tennessee. 

●       [14:06] Getting ready to move to Puerto Rico.

●       [16:54] How his health crisis impacted his journey to now.

●       [21:46] What is Jeff Holst’s favorite bourbon.

●       [22:34] The best book he can recommend and his superpower.

●       [23:08] The biggest lesson Jeff has learned over his career.

●       [23:40] His advice for working professionals to achieve financial freedom.

Resources:

●    Website

●    Facebook

●    Instagram

●    Total Recall by Arnold Schwarzenegger

Connect with The Cashflow Project!

●    Website

●    LinkedIn

●    Youtube

●    Facebook

●    Instagram

The Hawaii Millionaire Mindset Conference: “The Blueprint” will be happening here in beautiful Hawaii next year, July 21st-24th, 2022. Join top industry leaders for motivation, training, and of course, lots of networking. Early bird specials are happening now, so if you want the absolute best pricing, go to https://www.millionairesmindsetblueprint.com/ to find out more.

Join Vince with his guest Camilla Jeffs of Steady Streams Investments as she talks about her humble start to enabling steady income streams in her life. Camilla recalls that one of the biggest mistakes she made as an investor was to believe that 'all debts are bad.' As a result, they got rid of their single-family properties. If Camilla had not listened, those properties would be worth millions of dollars today. In this episode, Vince and Camilla talk about how consumer debt differs from debts you can leverage, the initial challenges to investing in bigger multifamily properties, why five million non-recourse loans are easier than car loans, and Camilla's fresh and unique take on living outside the comfort zone. There's a lot to unpack, so stay tuned and enjoy the episode!

Outline of the episode: 

●    [01:28] What woke up Camilla's appetite for real estate?

●   [04:08] A classic live-and-flippers dream for apartment complexes

●   [08:37] How to make your brain figure out ways to turn "I want's" to "I have's."

●   [12:57] Camilla's Two Big Whys in Life

●   [17:39] The hurdles in getting into the bigger multifamily deals

●   [21:42] General partners and passive investors leverage on each other

●   [25:39] 'All debt is bad,' is a severely flawed belief!

●   [30:10] Loans for large multifamily properties are easier than car loans

●   [33:12] If you passively invest early, you retire early.

●   [36:12] Camilla Jeff – on the book The Charge

Resources:

●   Website

●  Instagram

●  Linktr.ee

●  The Charge: Activating the 10 Human Drives That Make You Feel Alive, Book by Brendon Burchard

Connect with The Cashflow Project!

●    Website

●    LinkedIn

●    Youtube

●    Facebook

●    Instagram

Make sure you don't miss the Hawaii Millionaires Mindset Blueprint Conference this July 2022. Buy your tickets right here!

Join Steve as he chats with Daniel Kong about getting started flipping houses to achieve financial freedom. Daniel is an active real estate investor who quickly scaled his portfolio using creative strategies along with the BRRRR method. In addition, he has a passion for coffee, learning, and talking about anything real estate. However, his primary focus is building a passive income rental portfolio through fix-and-flips utilizing BRRRR. Today, Daniel shares how he came up with his now solid investment strategy and other ongoing projects. As always, there’s a lot to unpack in this episode, so stay tuned and enjoy the show!

About Daniel Kong:

Before coming across Rich Dad Poor Dad, Daniel Kong knew nothing about real estate or investing. And while he was financially responsible, Daniel never understood how investing worked or what it could do for him. But after reading the magical purple book, he soon started deep-diving into the world of real estate, from reading three books a week to listening to podcasts. Daniel then made it his goal to build passive income streams and eventually quit his W2, including rental properties, stocks, and the list goes on. He spent his first year learning as much as possible before starting any projects. But of course, getting started is never easy. Still, after going through the process of doing minor rehabs, Daniel gained the confidence he needed to go full-throttle, building his portfolio and achieving financial freedom.

Outline of the episode: 

●    [01:12] How Daniel Kong got started on his cash flow journey.

●    [02:13] What drove Daniel to pursue real estate investing.

●    [04:33] How he decided what investing strategies to use.

●    [06:59] His advice for people wanting to invest long-distance.

●    [10:28] Solutions to working with people on long-distance projects.

●    [14:03] His transition from investing out-of-state to his home market.

●    [18:28] Other cool projects Daniel is currently working on.

●    [24:43] The impact of the pandemic on the real estate industry.

●    [29:57] How COVID has affected his business, managing properties.

●    [33:14] What is next for Daniel Kong in his real estate journey.

●    [37:30] The best book that Daniel can recommend.

●    [38:23] His superpower of building systems for anything.

●    [39:03] The biggest lesson he has learned over his career.

●    [40:09] Daniel Kong’s advice when working towards financial freedom.

Resources:

●    Instagram

●    Long-Distance Real Estate Investing by David Greene

●    Buy, Rehab, Rent, Refinance, Repeat by David Greene

Connect with The Cashflow Project!

●    Website

●    LinkedIn

●    Youtube

●    Facebook

●    Instagram

The Hawaii Millionaire Mindset Conference: “The Blueprint” will be happening here in beautiful Hawaii next year, July 21st-24th, 2022. Join top industry leaders for motivation, training, and of course, lots of networking. Early bird specials are happening now, so if you want the absolute best pricing, go to https://www.millionairesmindsetblueprint.com/ to find out more.

Join Steve as he chats with John An about utilizing and combining different tools to manage short-term rentals efficiently. John is the president of Ohana Stay LLC, specializing in asset management around the Hawaii area. Ohana Stay LLC provides investors with opportunities to generate immediate net positive cash flow and build long-term equity and value. The company was founded on the core principle that guests deserve a clean and comfortable home away from home during their visit to the beautiful state of Hawaii. Ohana Stay prides itself on providing its guests with a seamless experience, the feeling of settling into one of our fully furnished and fully stocked properties while enjoying the “Aloha” of the “Āina.” As always, there’s a lot to take away from today’s episode, so tune in and enjoy!

About John An:

John An is a short-term rental industry expert with particular expertise in optimizing and customizing the technology stack, driving up revenue, and continually streamlining operations. Experienced in building and operating a short-term rental brand from the ground up, John has generated multi-million dollar annual revenue laser-focused on profit-first. He even leverages his own short-term rental company as a fertile testing ground to experiment with new systems and approaches, developing creative solutions to solve operators’ pain points.

Outline of the episode: 

●    [02:54] How John An got started on his real estate journey.

●    [05:44] The benefit of building systems for property management.

●    [07:53] What motivates John to invest and establish cash flow.

●    [11:41] The tools that helped John operate his business more effectively.

●    [16:07] How technology has changed the game for real estate investing.

●    [19:42] The influence of technological innovations on the short-term rental market.

●    [22:14] Focusing on revenue management to drive returns through the roof.

●    [25:05] Employing revenue management versus using management software.

●    [27:04] How the pandemic has impacted their operations in Ohana Stay LLC.

●    [30:38] Being nimble and applying your skills to adapt to any new normal.

●    [34:34] What John An sees on the horizon for his investing journey.

●    [37:31] The best book John can recommend to the audience.

●    [38:16] His superpower of making connections with industry professionals.

●    [38:50] The biggest lesson John has learned over his career.

●    [39:25] His advice to attain financial freedom for the busy working professional.

Resources:

●    Website

●    LinkedIn

●    The Lean Startup by Eric Ries

Connect with The Cashflow Project!

●    Website

●    LinkedIn

●    Youtube

●    Facebook

●    Instagram

The Hawaii Millionaire Mindset Conference: “The Blueprint” will be happening here in beautiful Hawaii next year, July 21st-24th, 2022. Join top industry leaders for motivation, training, and of course, lots of networking. Early bird specials are happening now, so if you want the absolute best pricing, go to https://www.millionairesmindsetblueprint.com/ to find out more.

Join Vince with his guest Jill Rodriguez, the Vice President of Private Banking and Commercial Services at Frankenmuth Credit Union, as she talks about everything you need to know as a real estate investor when lending. For Jill, if there's one thing that borrowers need to understand, that is it's critical to treat your lender as your future business partner. They're not the only ones who should get to know you; you should also be prepared on how you can get to know them better. In this episode, Jill simplifies the concept behind credit unions and commercial banks. She also talks about how risk factors form from union to union, the purpose of credit scores, the layout of the whole lending process, what lenders consider red flags, and so much more. There's a lot to unpack, so stay tuned and enjoy the episode!

Outline of the episode: 

●    [01:47] What is private banking?

●   [05:21] How different are credit unions from commercial banks?

●   [10:40] Everyone has their own risk factors unique to them

●   [15:21] Vince Gethings – on turning to lenders and community banks

●   [20:18] Who pays attention to your credit scores?

●   [26:26] This is why you should have a network of partners and mentors

●   [30:08] Commercial building rentals before and after 2020

●   [33:45] The red flags that lenders watch out for

●   [39:16] Jill Rodriguez – on the overview of the lending process

●   [44:20] Jill's biggest piece of advice to anyone applying for a loan

Resources:

●   Website

●  LinkedIn

●  Read The Essays of Warren Buffett: Lessons for Corporate America, Book by Warren Buffett

Connect with The Cashflow Project!

●    Website

●    LinkedIn

●    Youtube

●    Facebook

●    Instagram