The midwest is our homebase and a large portion of our investments are in Omaha, Nebraska. We chose to stay in this market and the areas nearby because of many reasons and in today’s episode, we’re going to tell you all about it. 

Watch now to learn more about investing in the midwest and why it is a great market to invest in!

Key Talking Points of the Episode

00:00 Introduction

03:14 The affordability of housing in the midwest

06:45 Property values and rent income in Omaha

08:21 The impact of the job market to your investment

10:20 How universities influence your real estate investments

12:04 The growth of Omaha, Nebraska

13:08 Tenant and landlord laws in the midwest

14:41 Differences in the eviction process in the midwest

16:50 Financial stability in the midwest after 2008

20:08 Investing in the midwest

Description

Self-storage facilities are another rising asset class in real estate, especially since the recent pandemic changed the way most people live. As more people are given the flexibility of working from anywhere, self-storage facilities are becoming more valuable than ever.

Watch this video to learn more about self-storage investing, why we decided to get into this asset class, and what benefits you can get out of it as an investor!

Key Talking Points of the Episode

00:00 Introduction

01:58 What got us interested in self-storage investing?

03:28 What makes tenant management more convenient in self-storage?

05:02 How much more demand is there for self-storage today?

07:17 Why are self-storage facilities profitable?

08:24 How can you generate more profit from a self-storage facility?

09:46 What makes self-storage a great asset class to invest in?

11:20 How much growth opportunities are available in self-storage?

12:20 What does the overhead look like for a self-storage facility?

15:19 How convenient can it be to expand a self-storage facility?

16:36 How can you add value to a self-storage facility?

19:17 What tax advantages can you benefit from in self-storage investing?

22:33 What are the things we love most about self-storage?

Description

Expanding your real estate investing business in different markets sounds like a great thing to do, but it’s not as easy. If you want to be successful as you get into new markets, you need to plan things well and make sure that you know exactly what you’re getting yourself into. 

Watch now to learn more about expanding your business into different markets and what factors you need to consider when choosing different markets to invest in!

Key Talking Points of the Episode

00:00 Introduction

03:43 Why should you begin with your local market?

05:18 Why is infrastructure important when you’re getting into a new market?

08:14 How can identifying your strategy help you find the right markets?

10:27 What data should you be looking at before investing in a new market?

12:43 How can you find the data that will help you evaluate a market?

14:07 How can local lenders help you learn more about a market?

16:10 How does opportunity for growth in a market affect your investment?

19:47 What can you do to mitigate risks when getting into a new market?

21:30 Why is commitment important as you get into a new market?

22:43 How do we decide which markets to go into?

23:28 What is the best way to choose your markets?

Contractors play a huge part in the success of your real estate investing business. They are the people who can help you turn your distressed properties into beautiful and liveable homes, and that is why finding the right ones are key. 

Watch this video to learn more about working with contractors and what you can do to find good contractors for your real estate investing business! 

Key Talking Points of the Episode

00:00 Introduction

02:35 Why are contractors an important part of your real estate business?

04:14 How can good contractors help you execute your vision?

05:55 Where can you start looking for good contractors?

06:45 What should you consider when looking at contractor rates?

08:01 Why is it important to look at multiple bids when you’re building out your team?

11:06 Why do you need to make sure to always check your contractor’s work?

12:10 What is the best way to nurture communication with your contractor?

14:45 How can you keep your projects on track to meet deadlines?

17:08 What is the importance of having a written contract with your contractors?

18:47 How can you monitor the progress and quality of your contractor’s work?

20:56 How has technology made it easier to monitor job sites?

23:12 Why do you need to understand construction if you’re an investor?

24:45 What is the best way to learn about the business?

26:27 Why is it important to take action if you want to learn?

27:25 How can finding a good contractor help you in your real estate business?

The BRRRR method is one of the most used strategies in real estate investing and it is one of the best ways to grow a real estate portfolio. Most investors use this strategy in the single-family space, but if you know how to structure it well, it will work in multifamily too. 

Watch this video to learn more about the BRRRR method and how we use it in our multifamily deals!

Key Talking Points of the Episode

00:00 Introduction

00:45 What is BRRRR?

01:29 How can BRRRR help you grow your real estate portfolio? 

02:10 How have we used BRRRR for multifamily properties?

03:10 What factors influence the reputation of a multifamily property?

Virtual assistants are tremendously helpful in running a real estate business, especially if you do things right with them from the beginning. We have been working with virtual assistants for years now and along with the success we gained from having them on our team, we’ve also learned quite a few lessons that we believe every entrepreneur should know. 

Watch this video to learn more about working with virtual assistants and the lessons we learned from doing so!

Key Talking Points of the Episode

00:00 Introduction

00:52 What should you keep in mind when you’re planning to hire a VA?

01:58 How do we make sure that we make the most out of the effort in hiring a VA?02:42 Why is it important to understand early on if a VA will work for your business or not?

03:44 Where can you find a VA for your business?04:15 What should you prepare when you’re hiring a VA?

05:44 How can you tell if a VA isn’t the right fit for what you need?06:41 What kind of tasks are easy to delegate to VAs?

07:30 What should you expect when working with a VA?

Real estate deals can be found both off-market and on the MLS, but they often differ in quality. This is because most properties listed on the MLS are retail-ready, unlike off-market properties that are often ideal for real estate investors. 

Watch this video to learn the differences between finding deals off-market vs. finding deals on the MLS and where we prefer to look for ours!

Key Talking Points of the Episode

00:00 Introduction

00:43 Why is it challenging to find deals on the MLS?

01:25 What usually happens to deals on the MLS?

02:30 What makes off-market deals better than deals on the MLS?

03:35 How do we find deals by going direct to the sellers?

04:15 What marketing methods work in finding good quality leads?

05:04 How has cold calling evolved through the years?

Cherrypick Capital was built on our collective goal to grow our portfolio and help the people around us gain access to real estate opportunities together. Today, we own and operate multiple residential properties, both single-family and multifamily, and we continue to raise capital to fund larger-scale deals that allow more people the opportunity to put their money to work. 

Watch this video to learn the story behind Cherrypick Capital and how we got to where we are today!

Key Talking Points of the Episode

00:00 Introduction

01:10 How did Adam discover real estate investing? 

02:17 When did Adam and Mark meet? 

03:15 What was Adam’s first rental property like?

04:41 How did Adam’s first rental property help him learn about the business?

05:20 How did Cherrypick Capital begin? 

06:51 What is the purpose of starting the Cherrypick Capital fund?

08:01 How did we acquire our first few multifamily deals?

Multifamily properties are great investments to make because they can generate more cash flow and you can increase their value in many ways, but there are many challenges that come with them too. This is especially true if you compare it with single-family, but the more you get into multifamily, the more you’ll learn how to overcome these challenges too. 

Watch now to learn more about the multifamily space and what lessons we learned from owning multifamily properties!

Key Talking Points of the Episode

00:00 Introduction

04:05 What have we learned from investing in multifamily properties?

05:40 How is the underwriting different for multifamily deals?

07:07 How are multifamily properties different in value from single-family?

10:43 What made key management more challenging for multifamily?

14:05 Why is keyless entry not ideal for all types of multifamily buildings?

16:47 What is the importance of reputation for multifamily buildings?

20:07 How can the reputation of a building affect the quality of tenants you’re going to get?

23:00 How can starting fresh with new tenants help you better manage your building?

26:17 Why is it important to talk to tenants about maintenance when acquiring a property?

28:50 What can you learn from talking to tenants about their units?

31:26 What was the biggest lesson Adam learned from buying a multifamily property?

33:07 Why is it important to provide value before you raise rents?

34:01 What exterior updates are important for multifamily properties?

36:10 What is the importance of having security cameras around a multifamily property?

Virtual assistants are great blessings to entrepreneurs like us. There are plenty of platforms where you can find them, but you need to make sure you’re prepared and you know what you’re looking for before you start hiring if you want it to work. 

Watch this video to learn more about what it is like to work with virtual assistants and how you can prepare to hire them for your business!

Key Talking Points of the Episode

00:00 Introduction

02:04 What have we learned from working with virtual assistants?

04:05 How do we make the most out of every VA experience?

05:55 Where did Adam find his first VA?

07:30 What was Adam’s experience like with his first VA?

09:44 What challenges did Adam have while working with his first VA?

12:14 How long has Mark been working with VAs in his business?

14:24 What is one of the most important things you should look for in a VA?

16:30 What roles do Mark’s VAs have in his business?

19:23 How can someone get started in finding their VAs? 

21:23 How much does it cost to hire a quality VA today?

23:30 What can you do to make sure you’re hiring the right VA for your team?

26:07 What is the importance of training when working with VAs?

30:10 How can recording your systems and processes help the whole team?

32:09 How can you utilize your VAs to train other VAs you’re hiring?

33:48 Why is it important to keep your VAs engaged?

35:20 How can you continue keeping your VAs engaged?