Eric Burns, the founder of Flowers Capital, breaks down the world of commercial real estate capital raising. He talks about how he brings together investor funds to help acquire large apartment complexes.

We talk about Eric's unique career journey, which has taken him from studying finance to serving as a firefighter, and finally to becoming a successful entrepreneur in real estate investment.

Eric shares how he made a significant shift from managing single-family rentals to exploring the bigger opportunities in commercial properties. This change was inspired by his goal of creating scalable, passive income. He also offers valuable insights into the current real estate market, highlighting the importance of understanding what drives investors, especially during uncertain economic times.

Whether you're looking to break into real estate investing or want to refine your strategies for raising capital and building partnerships, this episode is a valuable resource filled with practical advice and rich experiences from Eric's career.

Takeaways:

• Eric Burns transitioned from a career in firefighting to real estate investing, illustrating the potential for career pivots in pursuit of personal passion.
• He emphasizes the importance of accountability in personal growth, a trait honed during his years in the fire department.
• Burns highlights the benefits of commercial real estate, particularly in passive income generation, contrasting it with the challenges of residential property management.
• Investors are currently skittish due to market volatility, making it crucial to provide clear and defensible business plans when raising capital.
• The recent purchase of a 71-unit property in Phoenix illustrates strategic investment based on local economic drivers, such as a major semiconductor plant.
• Networking through masterminds has been pivotal in Burns's success, allowing him to connect with capable operating partners and refine his investment strategies.

Thanks for following, subscribing and listening to this episode of The Do More podcast hosted by Jon Farling. To learn more or ask questions, go to l4investing.com.

The Do More Podcast

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We live in a world overflowing with things that can pull our attention away—from binge-watching our favorite shows to getting lost in the endless scroll of social media. These distractions can seriously derail our ability to achieve both personal and professional success.

I’ll share some of my own experiences and observations and emphasize the importance of recognizing and tackling these distractions head-on. It’s crucial to understand how external influences can take control of our focus and shape our priorities. I encourage you to take a moment for some honest self-reflection on your daily habits.

This episode is a rallying cry to prioritize focus and intentionality in everything we do. By honing in on what truly matters, we can strengthen our commitment to rise above mediocrity and truly strive for greatness.

Takeaways

• Distractions serve as formidable obstacles that hinder individuals from achieving their aspirations and objectives.
• To reach one’s goals, it is imperative to identify and eliminate distractions that detract from one's focus.
• Engaging excessively in entertainment such as sports can lead one to neglect personal ambitions and responsibilities.
• Consistent evaluation of one's daily activities is crucial in determining whether they contribute positively towards goal attainment.

Key Moments

00:05 - Starting Solo: The Pressure of Providing Value

01:56 - Understanding Distractions on the Path to Your Goals

08:37 - Understanding Distractions and Personal Responsibility

11:38 - Navigating Pressure and Distractions in Life

17:13 - Understanding and Overcoming Distractions

Thanks for following, subscribing and listening to this episode of The Do More podcast hosted by Jon Farling. To learn more or ask questions, go to l4investing.com.

The Do More Podcast

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Let me introduce you to Mitchell Pater, who embodies the entrepreneurial spirit. His journey has been nothing short of transformative, as he's moved from various retail roles to building a strong real estate portfolio.

In our discussion, we focus on his latest endeavor: self-storage development. Mitchell has a keen eye for identifying profitable locations and is committed to creating high-quality facilities that are attractive to larger buyers.

We get into the details of his career, starting from his early days in real estate to how his strategies have evolved over the years. A key point he highlights is the idea of leveraging other people’s capital to fuel his investments. He makes it clear that continuous learning and adaptability are crucial in today’s real estate market. Plus, building relationships with industry experts is something he considers essential.

Ultimately, Mitchell has ambitious goals. He aims to grow a significant portfolio, all while having a solid exit strategy that aligns with his long-term financial plans. It’s an insightful conversation that sheds light on his journey and the lessons he’s learned along the way.

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Takeaways

• Mitch Pater emphasizes the significance of self-storage development as a profitable avenue in real estate investments, underscoring his strategic focus on acquiring prime locations.
• The journey of self-improvement and financial independence is crucial for individuals dissatisfied with traditional employment, as illustrated by Mitch's personal experiences.
• In real estate, understanding the importance of buyer demographics and market demand is essential for successful development and investment.
• Mitch advocates for leveraging relationships and resources to navigate the complexities of real estate, emphasizing the value of networking and continuous learning.

Key Moments

09:11 - The Journey of Self-Discovery and Skill Building

17:49 - Transitioning to Real Estate Investment

39:10 - Navigating Development Challenges

45:01 - The Vision for Development and Growth

Thanks for following, subscribing and listening to this episode of The Do More podcast hosted by Jon Farling. To learn more or ask questions, go to l4investing.com.

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I've gotten a few questions about my team lately, so I wanted to share some thoughts on what makes it so special.

When I think about my journey in real estate investing, it really started with just me focused on one thing. But over time, that has transformed into a more complex operation, thanks to the incredible people I’ve brought on board.

I want to highlight the key roles that my team members play. We’ve got an attorney, a CPA, a district manager, a maintenance technician, and an executive assistant, and each of them brings something essential to the table that keeps our business running smoothly.

It's so important to invest in talent that fits our overall vision and company culture. I believe that cutting corners on this can hurt our long-term success, and I’d really advise against it. This is not just a look back at my growth but also a reminder of how vital a strong team is in real estate entrepreneurship.

Takeaways

• The importance of building a strong team culture cannot be overstated in any business endeavor.
• Investing in high-quality employees is crucial; cutting corners can lead to long-term repercussions.
• A real estate attorney and a competent CPA are essential assets for successful real estate investment.
• The role of district managers has evolved significantly, reflecting the growth and complexity of operations.
• Having a full-time maintenance personnel streamlines operations and ensures consistency across multiple sites.
• Continual investment in employee development fosters a productive and motivated workforce.

Thanks for following, subscribing and listening to this episode of The Do More podcast hosted by Jon Farling. To learn more or ask questions, go to l4investing.com.

The Do More Podcast

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Tim Bratz, Owner of Legacy Wealth Holdings, a multifamily investor currently based in Charleston, South Carolina, shares profound insights into the evolving landscape of commercial real estate investment.

Within this conversation, he highlights the significant depreciation in property values that has transpired since 2022, a consequence of rising interest rates and escalating operational costs, which has largely evaded mainstream discourse.

Bratz talks about the necessity for investors to adopt a focused approach, emphasizing that diversification into unfamiliar asset classes can hinder one's progress rather than facilitate it. He also elucidates the importance of maintaining a streamlined portfolio, advocating for the sale of underperforming properties to concentrate efforts on more lucrative, manageable investments.

You'll hear a refreshing perspective on the intersection of investment acumen and personal well-being, underscoring that true success encompasses more than just financial gain.The Do More Podcast

Key Takeaways

• Tim Bratz emphasizes the importance of focusing on multifamily real estate investment and the need for a clear strategy in the current market environment.
• The rising costs in construction, labor, and materials have significantly impacted the values of commercial real estate, necessitating careful investment decisions.
• Bratz discusses the value of mentorship and mastermind groups in enhancing business acumen and avoiding common pitfalls faced by investors in real estate.
• The speaker underscores the critical nature of maintaining a long-term vision and commitment, especially in the cyclical nature of real estate markets and investment strategies.

Key Moments

Chapters:

08:14 - The Cyclical Nature of Markets

14:45 - The Future of Housing: Trends and Predictions

16:57 - Refining Investment Strategies

25:52 - Transitioning to Commercial Real Estate

29:00 - The Transition to Leadership in Entrepreneurship

36:40 - Building a Cohesive Team Culture

44:30 - Reflections on Business and Life Choices

45:12 - The Journey of Growth: From 20s to 30s

55:00 - The Power of Vision in Leadership

56:41 - Embracing Simplicity: A New Approach to Life

Thanks for following, subscribing and listening to this episode of The Do More podcast hosted by Jon Farling. To learn more or ask questions, go to l4investing.com.

The Do More Podcast

Brent Bowers, a renowned land investor and entrepreneur, shares his transformative journey into the world of land investing, shedding light on the potential for financial freedom through passive income.

He reflects on his early experiences in real estate and the pivotal moment in 2016 when the birth of his son ignited a deep desire to reclaim his time and pursue a more rewarding career.

Throughout our conversation, Brent highlights the strategies he used to navigate the complexities of land acquisition and sales, including seller financing, which opens up a variety of exit strategies. His insights illuminate the numerous opportunities available in land investing, especially for those ready to take action and commit to the learning process.

You are going to learn a powerful story that stresses the value of perseverance, adaptability, and proactive engagement in the pursuit of one's ambitions.

Key Takeaways

• Brent Bowers illustrates the transformative journey from military life to real estate investment, emphasizing the significance of proactive decision-making.
• He highlights the importance of taking decisive actions and learning from mistakes, asserting that speed in execution can lead to financial success.
• Bowers shares insights on land investing, revealing how strategic marketing and targeted outreach can yield profitable deals and opportunities.
• The episode emphasizes the value of surrounding oneself with knowledgeable individuals, advocating for a collaborative approach in the realm of business and investment.
• Brent discusses his unique strategy of seller financing in land deals, which allows for flexibility and accessibility for a broader range of buyers.
• He underscores the necessity of continuous learning and adaptation in the real estate sector, encouraging listeners to embrace challenges and seize opportunities.

The Do More Podcast

Thanks for following, subscribing and listening to this episode of The Do More podcast hosted by Jon Farling. To learn more or ask questions, go to l4investing.com.

Join me for an insightful analysis of the self-storage market. My guest is Matt Bilger, a seasoned commercial appraiser from Colliers whose expertise spans multiple asset classes.

I am surprised to hear that Bilger's appraisal assignments in the self-storage domain have dwindled due to a combination of heightened interest rates and stringent loan underwriting practices. This shift has not only reduced the volume of transactions but has also altered the investment strategies of regional and national buyers alike.

Investors currently exhibit a proclivity for acquiring single assets rather than larger portfolios, indicative of a cautious market sentiment.

We touch on the implications of inflation on rent increases. While inflation can deter discretionary spending among potential tenants, it simultaneously provides justification for property owners to raise rents in line with rising operational costs.

We then take a look at the multifamily sector, particularly in Columbus, Ohio, which is witnessing significant growth and development. Bilger attributes the city's success to its diversified economic structure, drawing attention to the burgeoning presence of major corporations contributing to job creation and population influx.

Top Takeaways

• The current market for self-storage assets is challenged by high interest rates and stringent underwriting by banks, which impacts loan availability.
• There is a noticeable reduction in refinancing activities as property owners are not seeking to refinance unless absolutely necessary.
• Local and regional investors are more active in the self-storage market, whereas larger institutional investors are adopting a wait-and-see approach before making significant acquisitions.
• The time required for properties to reach economic stabilization has increased, with projections now suggesting a timeline of 36 to 60 months for many facilities.
• Inflation has a dual effect on the self-storage industry, potentially hurting discretionary spending while simultaneously allowing for rent increases.
• Cap rates have been trending upwards, and there exists uncertainty regarding their future trajectory amidst changing economic conditions.

Thanks for following, subscribing and listening to this episode of The Do More podcast hosted by Jon Farling. To learn more or ask questions, go to l4investing.com.

The Do More Podcast

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Navigating the complex world of entrepreneurship is no easy feat, but in this episode, I am going to provide you a wealth of knowledge gained from my extensive involvement in masterminds and networking groups.

I outline ten key lessons that have shaped my understanding of success, starting with the undeniable importance of building relationships. I emphasize that the connections made through these groups have not only enriched my business life but also fostered personal growth. The accountability that comes with investing in a mastermind creates a sense of seriousness and commitment that can be a game-changer for many individuals.

I also stress the significance of mindset, vision, and goal-setting. I discuss how being surrounded by high achievers instills a positive mentality and a focus on long-term success. I reflect on the evolution of my own goals, from achieving financial freedom to understanding the importance of continuous growth.

I underscore the necessity of prioritizing health and fitness, noting that high-level achievers often demonstrate remarkable energy and discipline that fuels their success. This discussion serves as a reminder that personal well-being is intrinsically linked to professional achievement.

Finally, I stress the importance of operational excellence and the need to work on one’s business rather than simply in it. This perspective encourages entrepreneurs to step back from daily operations and focus on strategic growth and leadership. My ten lessons are not just theoretical; they are practical guidelines that you can apply to your own journey.

I hope to inspire aspiring entrepreneurs to embrace the power of masterminds and the transformative potential of collaboration, ultimately paving the way for sustainable success.

Takeaways:

• Investing in masterminds can significantly impact both personal and professional growth.
• Building relationships through networking in masterminds leads to invaluable business opportunities.
• Maintaining a clear vision and setting specific goals are crucial for long-term success.
• Prioritizing health and fitness becomes easier once financial stability is achieved.
• High achievers often exude contagious energy that can inspire and motivate others.
• Understanding the importance of operations is critical for scaling any business successfully.

Thanks for following, subscribing and listening to this episode of The Do More podcast hosted by Jon Farling. To learn more or ask questions, go to l4investing.com.

The Do More Podcast

Neil Twa shares his extensive experience in e-commerce, revealing the intricacies of building a successful online business.

My discussion with Neil begins with a simple yet profound definition of e-commerce, emphasizing the importance of identifying a product in demand and creating a brand around it. Neil elaborates on his journey through various industries, highlighting how he transitioned from traditional business models to e-commerce, particularly on platforms like Amazon.

Our conversation touches upon the significance of understanding market demand and competition, as well as the critical need for capital investment to ensure a business can grow sustainably. Neil stresses that initial failures are part of the entrepreneurial journey, and that persistence and adaptability are key traits for success.

He encourages aspiring entrepreneurs to embrace risk and learn from their experiences, urging them to take actionable steps towards starting their own e-commerce ventures.

With valuable insights on product selection and branding, Neil outlines a roadmap for those looking to break free from the conventional 9-to-5 grind and build a lifestyle by design.

Takeaways:

• E-commerce involves identifying in-demand products, branding them, and selling through multiple channels.
• Starting an e-commerce venture requires substantial capital, ideally between $50,000 to $100,000.
• Many entrepreneurs fail due to the lack of knowledge, undercapitalization, and not understanding their market.
• Focus on solving a problem with your product and avoid the 'lottery mindset.'
• E-commerce success is driven by understanding market needs and responding effectively to them.
• Building a profitable e-commerce business often requires multiple iterations and learning from failures.

Thanks for following, subscribing and listening to this episode of The Do More podcast hosted by Jon Farling. To learn more or ask questions, go to l4investing.com.

Dave Demink shares his transformative journey from a successful corporate sales career to becoming a self-storage investor and coach. After being let go from his high-paying job, Dave found the freedom to pursue his passion for real estate, focusing on building a cash flow engine through self-storage facilities. He emphasizes the importance of preparing for unexpected changes in life and the advantages of having multiple income streams, which he had established before his transition. Through his coaching platform, Storage Ace, Dave is now dedicated to helping others find success in the self-storage industry while enjoying the flexibility and freedom he craved. This conversation highlights the power of resilience, planning, and the pursuit of personal fulfillment in both business and life.

Takeaways:

• Dave talks about his transition from being a Division 1 football player to a successful entrepreneur, highlighting the lessons learned from sports.
• The importance of building a cash flow engine for financial freedom is emphasized by Dave, who sets a target of $50,000 a month.
• Dave shares how his experience in sales leadership prepared him for his current role in real estate investing and coaching.
• The podcast discusses the significance of having a long-term vision and the steps taken to achieve it, even after unexpected career changes.
• Dave's journey illustrates how building relationships and networking can lead to new opportunities in business and life.
• The conversation touches on the emotional aspect of leaving a corporate job and finding fulfillment through entrepreneurship and coaching.

Links referenced in this episode:

• storageace.io
• l4investing.com

The Do More Podcast

Thanks for following, subscribing and listening to this episode of The Do More podcast hosted by Jon Farling. To learn more or ask questions, go to l4investing.com.

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