Paul is a serial entrepreneur and has been involved in various real estate asset classes including multifamily, mobile home parks, self storage and development. He’s the author of the Perfect Investment, host of the How to Lose Money Podcast, and frequent BiggerPockets contributor. He’s the founder of Wellings CapitalPaul is a previous guest of the Commit to Wealth Podcast, Episode 29 to be exact.

Topics Covered:

• Understanding the value formula (income/cap rate)

•  

  7 Reasons 

  • Record number of 1031 exchanges

  • Self directed IRAs

  • International capital

  • Institutional capital

  • Tax reforms

  • New Gurus

• Understanding mobile home parks and self-storage as asset classes

Nuggets of Wealth

• What is a good tool, source, or platform you use daily? Hubspot, 411

• What is the best advice that you’d give to someone transitioning from multifamily to mobile home parks/self-storage? Find a great operator or team and go work with them to learn the business from the ground up

• What book are you currently reading? Principles by Ray Dalio

• Where do you see your business and company in the next 5 years? Opening a growth fund and an income fund

• At the end of your life how do you want to be remembered? Someone who had an excellent business and fought human trafficking

• Where can Commit to Wealth Nation go to contact you and find out more about you and Wellings Capital? www.wellingscapital.com 

James Eng serves as a senior director at Old Capital, where he has financed over $500MM in multifamily properties throughout the great state of Texas. Before Old Capital, he underwrote over $750MM in loans for GE Real Estate. He is currently invested as a limited partner in 21 multifamily properties totaling over 6,000 units. James is a graduate of The University of Texas at Austin where he received his degree in Finance.

Topics Covered:

• What lenders are looking for
• Lenders want to see 3rd part property management (50-60 units and above)
• Requirements for agency loans (Fannie Mae and Freddie Mac): sponsors’ networth, liquidity (post-close)
• Make sure you’re raising money from other people and holding some money back to protect your liquidity of your post-close money
• Fannie Mae v. Freddie Mac
• Freddie Mac Small Balance Loan Program ($1-7.5 million with 80% leverage)
• Qualifying for the green programs
• Understanding Texas and the Dallas-Fort Worth market

Nuggets of Wealth

• What is a tool source or platform you use everyday? Yardy Matrix, Costar
• What is top advice that you’d give to someone who wants to get into larger deals? All about team, fill out your sponsorship team
• At the end of your life how do you want to be remembered? As a teacher, someone who taught other people about multifamily
• Where can Commit to Wealth Nation go to contact you and find out more about you and Old Capital?Oldcapitalpodcast.com oldcapitallending.comTexasmultifamily.com [email protected] 

Jens is the founder of Open Door Capital. Since 2016, he has invested in 12 syndications, including 800 apartment units, 2,000 mobile home pads and over 6,000 storage units. He’s also an owner and key principal in 82 units in New Mexico and Colorado.

Topics Covered

• Investing using self-directed IRAs
• Diversifying passive investments while you have a day job
• What to look for in a sponsor
• Assess by finding reasons to not do the deal
• Networking and bringing opportunities to investors 

Nuggets of Wealth

• What is a good tool, source, or platform you use almost daily? Streak from Gmail (a CRM attachment on top of Gmail)
• What is the best advice or tip that you'd give to someone else? Get educated and pick a direction
• What book are you currently reading? The E-myth Revisited by Michael Gerber
• Where do you see your business in the next 5 years? I want to be the key principle on bigger deals
• At the end of your life how do you want to be remembered? As a kind, generous, and sharing person who brought value to others
• Where can Commit to Wealth Nation go to contact you and find out more about you and Open Doors [email protected] https://opendoorscapital.com/

Jas is the Co-Founder of Sahara Equity, a company that focuses on underperforming and value add MF properties. Through her company, she has acquired 3 MF properties consisting of over 500 units with an asset value of $40M - all within the last year! Based out of Dallas, Tx.

Topics Covered

• Learning the business from the best
• Investing in training
• Be patient
• Know the numbers
• Make sure you know what works for you
• Know your sellers

Nuggets of Wealth

• What is a good tool, source, or platform that you use almost daily? Excel, Dropbox, Asana
• One key tip for others? A dream is a dream until you take an action and invest in yourself
• What book are you currently reading? Never Split the Difference
• What's next? We want to expand our team, have a commercial real estate empire, but still keep our vous on multifamily in the near future
• At the end of you life, how do you want to be remembered? Someone who helps those in need
• Where can Commit to Wealth Nation go to contact you and find out more about you and your business?  Saharaequity.com

Jeremy got his start in real estate investing and business back in 2002 and 2007 became a full time investor. He’s currently an investor in over 70 deals/ businesses worth over $1B in asset value. He’s the founder of Roll Investment Group AND he’s the founder of For Investors By Investors, a non-profit organization that is now THE largest group of public real estate investor meetings in California with over 27,000 members.

Topics Covered:

•  

  Control v. diversification

• Make sure your operator is an expert in whatever asset class you invest in

• Look for growing population, diversified economic base, thriving economy in the area you invest in

• Look for consistency and predictability

• Look for 8% return

• The most common splits are either 60/40 or 80/20

• Work with operators who makes conservative estimates about the expected returns

• Get to know the operator and their communications style and ask for samples of quarterly reports

• Get used to thinking 10 years ahead

Nuggets of Wealth

• What is a tool you use everyday? I use OnceHub for scheduling
• Best advice you'd give to someone who wants to be a passive investor? Right now, be very careful. We are at the end of a cycle so prices are very high. It's about timing.
• What book are you reading? Read Robert Kiyasaki, Rich Dad, Poor Dad and Cashflow Quadrants are great for people who are new
• Where do you see your business in the next five years? Build the cashflow snowball. I am going to be pouncing on opportunities when there's a downflow.
• At the end of your life how do you want to be remembered? As someone who helped as many people as possible
• Where can Commit to Wealth Nation go to contact you and find out more about you and Roll Investment Group or FIBI?  [email protected]

Marco began his investing career at the age of 18 and continued building his portfolio over the years. He’s the founder of Norada Real Estate Investments, a turn-key rental property company that provides properties nationwide and he’s the the host of the Passive Real Estate Investing Podcast.

Topics Covered:

• Defining turnkey real estate investments
• Turnkey as a (somewhat) hands-off investment
• RV ratio
• Identifying steady v. cyclical markets

10 Rules of Successful Real Estate Investing:

1. Education

2. Set Investment Goals

3. Never to Speculate

4. Invest for Cash Flow (glue that holds your investments together)

5. Be Market Agnostic (don’t marry yourself to your own backyard)

6. Start with the Market in Mind (street, submarket, job growth?)

7. Diversify Across Markets Geographically (3-5 properties in 3-5 markets)

8. Always Use Professional Property Management

9. Maintain Control

10. Leverage Your Investment Capital

Nuggets of Wealth

• What's a tool you use every day that could help others? Google G Suite
• Top advice or tip you'd give to someone wanting to get into real estate? Just do it.
• What book are you currently reading? 5 Day Weekend-Nik Halik
• Where do you see your business in the next 5 years? 10x the business
• How do you want to be remembered? For being a good husband, father, grandfather, someone who gave back and helped educate people.
• Where can Commit to Wealth Nation go to contact you and find out more about you and Norada Real Estate Investments?Passiverealestateinvesting.com  Noradarealestate.com

It may seem obvious that we should build strong relationships with key players such as brokers and property managers. Seems pretty obvious to me - no need to talk about it. 

But is it really that obvious? I've seen other potential buyers tour properties with brokers and although I agree that we should treat it as business and get straight to the point, I believe even more that we should try to learn more about the brokers and their background. 

Case in point - I toured 4 properties yesterday with a broker and property manager and I spent ALL day with them. Surely it didn't take all day to tour just 4 properties. That's not how the time was spent. 

I learned a ton including: where they were from originally, their marital status, kids, had lunch with them, drove around the whole city in the same car, learned what they like or don't like about the market, the history of some assets, who owns those assets, what they plan on doing (either selling or developing soon), other insider information and so on... 

You see, if we JUST go straight to business, I wouldn't have learned about all of the above. It is THAT important. 

I'm excited to share my TOP 5 (out of 100) most listened to episodes of The Commit to Wealth Podcast!

One thing is similar for all of these top 5 guests. They all shared valuable information and all provided us with good motivation to push harder to reach our goals, some life goals and others business goals. 

I feel very fortunate to have interviewed these 5 guests and look forward to the next set of top interviews. 

Thank you to these guests and a special thank you to my audience for listening!

As a sponsor what is the minimum amount you should have in a deal? Does it depend on the minimum invest amount set for passives? Does it depend on your financial means? 

The short answer to that should be: Sponsors should invest an amount equal to or greater than the minimum amount of a deal. So if the minimum amount is $50k for passive investors, the general partners (or sponsors) should also invest $50k each (at a minimum) to fully align themselves with the passive investors. 

In most deals there is an acquisition fee, in which case sponsors should look to recycle that capital into the deals they are putting together. 

Listen to the episode as we get deeper into this subject and don't forget to leave us a 5 star rating and review on iTunes!

Check out and subscribe to our YouTube Channel!

Terry is the President & CEO of Sunwest Trust, a SDIRA custodian and the President & CEO of the escrow company Sunwest Escrow. He’s been involved with real estate and investing for over 35 years.

Topics Covered:

• Understanding custodianship
• Investing through your IRA
• Investing using an old 401k
• You can start taking money out at 59 1/2 years old
• IRS only tells you what you cannot buy, not what you can
• How to manage a property through the IRA
• Prohibited transactions and parties

Nuggets of Wealth

• Tool source of platform you recommend? YouTube Channel: Sunwest IRA
• What book are you currently reading? If All You Have is a Hammer - Terry White
• Where do you see your business in the next 5 years? Majority in real estate, cryptocurrency, digital assets
• At the end of your life how do you want to be remembered? As a good father
• Where can Commit to Wealth Nation go to contact you and find out more about you and your business?  sunwesttrust.com [email protected]