From Paycheck to Paycheck to Property Portfolio: A Budget Coach's Secrets

Let’s face it, real estate investing is a rollercoaster. One minute you're riding high on a successful flip, the next you're grappling with a leaky roof (and a two-year-old who mysteriously clogged the sink, resulting in a ceiling renovation). But amidst the excitement and occasional plumbing nightmares, there's one constant that can make or break your success: your budget. This week, we had Zach Wechel, founder of MyBudgetCoach.com, on the show, and he shared some seriously savvy strategies. Forget the mental math and guesswork; Zach advocates for zero-based budgeting, a game-changer for anyone aiming to build wealth, whether it's in real estate or beyond.

Zach's journey started unexpectedly—two kids and a pandemic created an urgent need for a budget. What followed was not only a transformed family life but a passion project that's helping countless others gain control of their finances. He emphasizes that budgeting isn't just about restricting spending; it's about intentionally allocating every dollar. Think of it as assigning each dollar a job before it even leaves your account. No more mysterious disappearances into the void of "miscellaneous spending"!

Key Takeaways from Zach's Budget Wisdom:

• Zero-Based Budgeting: The cornerstone of Zach’s approach, this method allocates every dollar to a specific category before spending. It's like assigning a job description to each dollar, preventing random spending sprees. This is particularly important for real estate investors who often deal with irregular income streams and unexpected expenses.
• The "Living Document" Budget: Zach stresses that a budget isn't a static document. It's a living, breathing entity that adapts to changing circumstances (like an unexpected water leak in your new investment property). Regularly review and adjust your budget as your life and priorities evolve.
• The Power of Planning: A budget isn't just about tracking spending; it's about planning for the future. Zach advocates for creating "buckets" for specific goals, like a down payment fund for your next investment property or even Christmas gifts (because let's face it, inflation hits even Santa’s sleigh).
• Embrace the "Buckets": This is not a financial advice, but a life hack. Having specific buckets for goals like that next investment property, holiday spending, or even those inevitable emergency repairs can keep you on track, reducing stress and helping you stay ahead of the curve.
• The Accountability Partner (a Coach): Zach’s platform, MyBudgetCoach, offers more than just an app. It provides access to certified financial coaches who can guide you, provide support, and ensure you stay accountable to your goals. Sometimes, having someone else to hold you accountable makes all the difference.

Get Signed Up For MyBudgetCoach.com HERE!

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LinkedIn for Real Estate: Anthony Jones's Secrets to Success

In today's digital age, a strong online presence is crucial for real estate investors. But with so many social media platforms vying for your attention, where should you focus your efforts? Today's podcast features Anthony Jones, a LinkedIn expert with over 20 years of experience, who shares his insights on leveraging LinkedIn for real estate success. He's not just talking about posting random updates; he's sharing strategies for building a powerful personal brand and generating consistent deal flow.

Anthony's journey started unexpectedly in the non-profit world, where he discovered the power of LinkedIn for fundraising. But he quickly realized its potential for business growth, transforming it into a primary lead generation tool. He jokingly refers to his initial LinkedIn experience as "learning by doing," a testament to the power of experimentation and the iterative process of building a successful online presence.

Anthony's advice focuses on using LinkedIn for relationship-building, brand building, and consistent engagement, rather than just for cold outreach or sales pitches.

Here are five key takeaways from his insights:

• Professionalism Trumps Gimmicks: Forget the flashy videos and dance moves. On LinkedIn, a professional approach resonates best. Focus on providing valuable content and engaging authentically with your network.
• Master Short-Form Video: Short videos are hugely effective for gaining visibility on LinkedIn. Using AI tools can streamline the process, making content creation easier and more efficient. This also helps to cut through the noise of the everyday feed.
• Go Live Regularly: LinkedIn Live streams are a powerful tool for building relationships and generating leads. Use a co-host to keep things flowing smoothly, and don't forget to repurpose the content into shorter video clips for your feed.
• Leverage LinkedIn Newsletters: Newsletters can significantly expand your reach. Make sure your first newsletter is compelling and well-written, maximizing LinkedIn's automatic promotion to your contacts.
• Optimize Your Profile: Craft a compelling “About” section that focuses on your ideal client's pain points and includes a clear call to action. Also, make sure your profile picture and header image are up-to-date and visually appealing.

Anthony's expertise extends beyond simply using LinkedIn; he provides coaching and resources for those seeking to build their personal brands, create content, and leverage LinkedIn effectively. He recently launched the Brandwagon Club, an online community dedicated to helping real estate professionals master LinkedIn. Remember, building a strong personal brand takes time and effort, but the rewards are worth it. It's not just about closing deals; it's about building long-term relationships and establishing yourself as a trusted expert in your field.

You can connect with Anthony Jones on LinkedIn and through his Brandwagon Club. Remember, building a successful real estate business involves more than just finding deals. It also requires strategic marketing, consistent engagement, and a commitment to building your personal brand. Until next time, happy investing!

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Today's podcast features Derek Kinney, author of Good Money Revolution, and a financial expert who helps people transition from middle-class comfort to millionaire status. His approach isn't about complicated financial jargon or get-rich-quick schemes; it's about a simple, five-step plan that helps you identify what you want and take actionable steps to achieve it.

Derek's story is a testament to the power of mindset and intentional action. He wasn't born into wealth, but he achieved financial freedom through dedication and a clear vision. He compares the financial world to a vault; most people believe only a select few know the combination, but Derek's mission is to share the "combination" so that anyone can access the secrets to financial success.

Here are five key takeaways from Derek's advice:

• Identify Your Goals: Write down three personal and three financial goals, then specify what you’ll lose if you don’t achieve them. Visualizing both positive outcomes and the negative consequences is a powerful motivator. (And yes, this includes having that extra latte every day. Let’s be real, it’s part of the dream!)
• Earn What You Deserve: Don’t just settle for what you’re currently making. Identify ways to increase your value at your current job by taking on more responsibility, improving efficiency, or providing more value. Remember, the more value you bring, the more you'll earn.
• Launch a Side Hustle: Leverage your skills and talents to create a side hustle. What are you good at? What do people constantly ask you for help with? Turn that skill or passion into a profitable business.
• Give Back: Linking your financial goals to a charitable cause provides motivation and adds more meaning to your work. Helping others can lead to stronger relationships and enhance your own sense of fulfillment. (And yes, there is also tax benefits to consider!).
• Celebrate and Reward Yourself: Celebrate your successes, big or small. This keeps you motivated and helps you build momentum. Don't beat yourself up over setbacks. Learn from your mistakes, adjust your strategy, and move forward.
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Derek’s "Millionaire Money Map" provides a simple yet powerful framework for achieving financial freedom. This approach emphasizes the importance of setting clear goals, taking consistent action, and having fun along the way.

You can find Derek Kinney's book, Good Money Revolution, and more information on his website, AnyoneCanBecomeAMillionaire.com. He’s also active on Instagram (@DerekTKinney). Remember, achieving financial success isn't about luck or complicated financial schemes; it's about intentionality, consistency, and the willingness to help others. Good luck, and happy investing!

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About Derrick Kinney:

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Wholesaling notes can be a lucrative strategy for real estate investors, offering a path to quick profits and building valuable experience. But, like any business venture, it requires knowledge, strategy, and a dash of good old-fashioned hustle. Today's podcast dives into the thirteen critical questions you should always ask yourself before diving into a note wholesaling deal. Skipping these steps could mean losing time, money and potentially your sanity (which, as any seasoned entrepreneur knows, is a precious resource).

Think of it this way: you wouldn't walk into a high-stakes poker game without knowing the rules, would you? Similarly, approaching note wholesaling without a solid understanding of the deal can lead to costly mistakes. To avoid that, let’s go through the thirteen questions that you should always ask yourself before buying a note:

• Know Your Pricing: Before you even consider sending out offers, you should know your pricing strategy and ideal profit margins. A buyer who can’t confidently state a fair market price is setting themselves up for failure. Don't be that guy (or gal).
• Determine Who's in Control: Who really controls the deal? If the note information comes from a friend-of-a-friend, you likely aren't the one in control. A deal where you are directly involved with the seller gives you the most control and reduces potential headaches.
• Understand the Deal: Make sure the deal itself is actually profitable. You should confidently understand the asset's value, potential cash flow, and potential profit margins in a range of scenarios (e.g. successful re-performance versus foreclosure). A deal that isn’t profitable for you isn't a deal at all.
• Determine Who Are The Best Buyers: Knowing your target buyers ensures effective marketing efforts. Understanding their needs will help you find the perfect buyer for your notes. Are you going after passive investors or aggressive flippers? This will define your marketing strategy and timing.
• Timing is Everything: Negotiating a deal requires understanding timelines. Consider funding deadlines, due diligence periods, and seller motivations when determining whether the deal is right for you.

The remaining eight questions cover equally important aspects: Are you direct to the seller or working with another broker? What is the overall profit margin? What are the pros and cons? Do you have a buyer's list (and are you using it properly)? How are you marketing the deal? Where are your buyers located? And, finally, would you actually buy the deal and what's stopping you? If you can't answer this last question, move on. Your time is precious.

Remember, note wholesaling is a numbers game—but the numbers need to be accurate. By asking these 13 key questions, you'll significantly increase your chances of finding profitable deals and avoiding costly mistakes. It's a process that requires constant education, attention to detail, and the willingness to learn from both your successes and your mistakes. Happy investing!

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Barry Minkow Exposes Multifamily Syndication Fraud: Insights From A Convicted Felon Now Working With the FBI!

The multifamily syndication market is booming, but beneath the glossy marketing materials and promises of high returns lurks a darker side: widespread fraud. Today's podcast features Barry Minkow, a reformed businessman, preacher, and former convict, who brings a unique perspective to the world of distressed debt and real estate investing. He shares his insights into the often-hidden dangers of multifamily syndication schemes.

Barry isn't your typical real estate expert. His experiences, including a stint in federal prison for fraud, give him a firsthand understanding of the deceptive tactics used by some promoters. His perspective is invaluable for investors looking to avoid costly mistakes. He warns against the hype surrounding Reg D offerings, emphasizing the importance of independent verification and due diligence. He says, "Don't rely on glossy marketing materials alone. Dig deeper. Verify everything. Because what looks too good to be true, usually is."

Here are five key takeaways from Barry's insights:

• Beware of Overly High Returns: Multifamily syndications often promise unrealistic returns. Barry cautions investors to be wary of deals offering unusually high yields, as these may be indicators of fraudulent schemes. (He humorously calls this kind of promising "the lipstick on a pig" approach.)

• Independent Verification is Crucial: Don’t blindly trust the information provided by promoters. Conduct thorough due diligence, including obtaining independent appraisals and reviewing financial statements, before investing. Barry’s own experiences highlight the consequences of neglecting this crucial step. “Trust, but verify,” he says, a lesson he learned the hard way.

• Understand the Numbers: Analyze financial statements closely to avoid being misled by inflated numbers. Barry stresses the importance of understanding key metrics like LTV (loan-to-value ratio), occupancy rates, and debt service coverage ratios. “If the numbers don't add up, they’re probably lying,” he warns, with a wink.

• Look for Red Flags: Barry points out several red flags to watch out for, including unrealistic projections, lack of transparency, and aggressive marketing tactics. He recommends paying close attention to the details; if something feels off, it probably is.

• Don't Be Afraid to Ask Questions: Barry emphasizes the importance of asking tough questions and challenging the information presented by promoters. Don't be afraid to ask follow up questions; if the promoter is trying to obfuscate information, it's a major red flag.

Barry's insights offer a much-needed dose of reality in an otherwise overly hyped market. He urges investors to exercise caution, perform thorough due diligence, and prioritize financial literacy. The consequences of fraud can be devastating – financial ruin, legal battles, and even criminal charges. It’s far more prudent to protect your investment by asking questions, performing due diligence, and making informed decisions.

You can find Barry Minkow on Instagram (@MinkoBarry) and TikTok (@OneMinuteFraud). Remember, in the world of real estate investing, knowledge is power – and due diligence is your best defense.

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From CPA to Real Estate Rockstar: Katherine Langevin's Journey

Today's podcast features Katherine Langevin – a retired CPA who traded spreadsheets for a life of real estate investing. Kat’s story is a refreshing example that even the most buttoned-up professions can successfully transition into entrepreneurship. It proves that anyone can learn, adapt, and achieve financial freedom through real estate.

Kat’s journey isn’t without its bumps and unexpected turns. Think of it as navigating a construction zone blindfolded while juggling flaming torches (okay, maybe not that crazy, but real estate investing has its share of unexpected moments). One particularly memorable challenge: her first foray into new builds, which involved the unexpected soft cost of installing new utility meters. ("Who knew a simple meter could cost so much?" she laughs.)

Kat shares her insights, including the creative financing strategies she employed during her first real estate deal. She acquired three duplexes at once, a move that may sound audacious to many. To help pay for these properties, she utilized creative financing strategies including securing hard money loans, personal loans, and involving her father as a silent partner. The result? She was leveraged, stressed, and ready to move on.

Here are some key takeaways from our discussion with Kat:

• Start Small, Start Bold: Kat started by buying three duplexes at once—a risky but rewarding move. While she acknowledges the stress of high leverage, she emphasizes the importance of taking that leap of faith.
• Embrace Creative Financing: Kat's initial success was fueled by creative financing strategies. Don’t limit yourself; explore all available avenues and use creative solutions to make deals work.
• Focus on Affordability Markets: Kat focuses on affordable housing markets, specifically targeting Section 8 properties in Georgia. She's carved out a successful niche by understanding the local dynamics.
• Leverage Relationships: Kat uses her existing network in property management and personal connections to secure lower-cost labor, speeding up her rehab projects and maximizing profits.
• Give Back and Enjoy the Ride: Kat is building a community called the "FI Tribe," which aims to help other real estate investors, especially women, by sharing their expertise and experiences.

Kat’s story is a reminder that success takes time and planning, but also embraces risk and learning along the way. Don’t let perfectionism paralyze you; instead, focus on taking action and learning from your mistakes. The world of real estate is ever-evolving; stay curious, adapt to the changes, and connect with other investors who can share knowledge and support you in your journey. The right connections can accelerate your learning and enhance your success. For those interested in connecting with Kat or following her journey, find her on Instagram @kat.invest and her blog at beyondjustnumbers.com. We'll make sure those links are also in the show notes.

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About Katherine:

Kat is a retired CPA and full-time real estate investor. She began building her own portfolio in 2019, and after three years, left her corporate accounting job to dedicate herself fully to real estate, now managing her properties and projects alongside her team. Passionate about supporting new investors, Kat shares her knowledge through her blog, social media, and coaching group. In her free time, she enjoys hiking, traveling, and spending quality time with her baby and family.

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The year's winding down faster than a foreclosure auction in Texas! We're knee-deep in holiday cheer (and maybe a few too many pumpkin spice lattes), but let's not let the holiday spirit distract us from setting ourselves up for a wildly successful 2025. This week, I'm sharing my end-of-year checklist to make sure you're not caught napping when the new year rolls around.

Let’s be honest, sometimes planning for the future feels about as fun as filing your taxes (and about as relaxing as a root canal). But if you take a little time now to prepare, you'll thank yourself later when your business is thriving. Think of it as pre-gaming for your next financial victory — you wouldn't show up to a major real estate deal unprepared, would you?

Here’s my action plan – a mix of strategic moves and tactical tweaks to keep your business running smoothly. I’ve broken it down into ten tasks that should be done, no questions asked:

• Max Out Your IRA: Think of this as putting some serious money in the bank before January 1st. Yes, I know, taxes. But this helps you hit those investment goals a little sooner.

• Network, Network, Network: Yes, it's the same tired advice, but it still works. Connect with asset managers, IRA investors, and fellow real estate peeps before they hit the ground running in the new year. Don’t let holiday cookies and eggnog keep you from closing those deals.

• Update Your Online Presence: This means your website, your LinkedIn profile, basically everything that represents you in the digital world. You're basically upgrading your online storefront; let’s make sure it’s optimized and visually appealing to attract potential clients.

• Start Planning for OPM (Other People's Money): You have a head-start now to start securing funding for your next ventures. That means mapping out potential funding sources, whether that's through IRA investors or other avenues.

• Contact Asset Managers: Start reaching out to asset managers now. They often unload assets at year's end, providing you with incredible opportunities.

The rest of my checklist involves reviewing past year's goals, updating your marketing calendar, refining your pitch decks, reviewing expenses, and, finally, celebrating your wins.

This isn’t just about hitting numbers; it's about building a solid foundation for continued growth. Just like building a strong real estate portfolio requires planning, patience, and the right approach, building a thriving business necessitates consistent review and optimization.

Remember, this isn't some theoretical exercise. We’re talking about real-world strategies. Taking these steps now will save you time, stress, and maybe even a few headaches in the new year.

The new year is just around the corner; take control of your success by putting in the work today. I can't wait to see what you all accomplish in the coming year. Until next time, happy investing!

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The holidays are approaching, but for note investors, the hustle continues! Scott Carson of the Note Closers Show shares essential tips for submitting bids efficiently and effectively. In this episode, Scott emphasizes the importance of clear communication, streamlined processes, and avoiding common pitfalls.

This isn't a deep dive into the math of note investing; it's a practical guide on presenting your offers in a way that ensures they get noticed (and accepted!). Scott focuses on the nuances of crafting compelling bids for different scenarios, from one-off deals with individual sellers to mass submissions to larger entities like hedge funds.

He emphasizes the importance of creating clean, concise spreadsheets. Think of your bids as a well-organized gift — the recipient will appreciate the thoughtfulness and be more inclined to open it (and make an offer!). He jokingly warns against the common mistake of embedding massive spreadsheets into emails, stressing the importance of clear communication and easy-to-read formats. He recommends naming spreadsheets clearly and including relevant details such as the date and the number of assets included.

Five Key Takeaways for Submitting Winning Bids:

• Keep it Clean: Create a streamlined spreadsheet; only include the assets you're bidding on and the relevant information (loan number, address, and your bid).
• Clear Naming Conventions: Name your spreadsheets clearly to avoid confusion—e.g., "WCN Bids, 278 NPNs, 11/25/24."
• Respect the Recipient's Time: Make it easy for asset managers and others to review your bids. Clear formatting is crucial.
• Know Your Audience: Tailor your approach based on who you're submitting to — individual investors vs. hedge funds have different expectations.
• Due Diligence is Key: Always perform thorough due diligence before submitting any bid, especially when dealing with unfamiliar sellers.

Scott illustrates his points with real-life examples, including a hilarious anecdote about a seller who attempted to fraudulently use his company's name to make offers. This cautionary tale highlights the necessity of verifying details and ensuring authenticity, not only for ethical reasons but also to safeguard against potential legal issues.

The episode also tackles the question of providing proof of funds. While not always necessary, Scott explains that it may be advisable when dealing with new sellers or asset managers. It’s a great reminder to always be prepared to present your financial capacity when needed.

He offers crucial guidance on navigating the complexities of submitting bids, emphasizing the need for clear communication, efficient organization, and awareness of different processes. The episode concludes with tips for maximizing your chances of securing winning bids, making it a valuable resource for both novice and experienced note investors.

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Conquer Your Financial Fears: Insights from Cindy Lundberg

Are you a woman navigating the world of finance? Feeling overwhelmed, underprepared, or just plain scared? You’re not alone! In this empowering interview on the Note Closers Show, Cindy Lundberg, a financial advisor and marketing director at Verde Capital Management, shares her invaluable insights on how to take control of your finances.

Cindy's journey is anything but ordinary. Starting with a mission to help “thousandaires” become millionaires (yes, that's a word now!), she's discovered that true financial success comes from aligning your money with your life's goals – what she calls "life fulfillment."

Cindy doesn't sugarcoat the common financial anxieties faced by women. She candidly discusses the myths surrounding running out of money, geopolitical instability wiping out savings, and the general feeling of being overwhelmed by financial complexities. Her witty and relatable style makes these often-intimidating subjects surprisingly accessible.

One of her most impactful points? The power of asking. Whether it's negotiating a raise, securing a better deal, or simply understanding your financial situation, Cindy emphasizes that you can't get what you don't ask for. This is empowering advice, delivered with the kind of playful confidence that encourages listeners to step outside their comfort zone.

She also debunks the myth that financial expertise is limited to the "pale, male, and stale" stereotype prevalent in the industry. In fact, she highlights the substantial financial power held by women, while pointing out that women are often underserved by traditional financial models. This creates a crucial discussion about the need for tailored financial strategies that address the unique experiences and aspirations of women.

Five Key Takeaways from Cindy's Interview:

• Life Fulfillment over Money: Focus on aligning your financial goals with what truly matters to you. Forget chasing an arbitrary number; focus on the life you want to live.
• Ask for More: Don't underestimate your worth. Negotiate for raises, better deals, and the financial services you need. The worst they can say is no.
• Embrace Technology: Utilize online tools and technology to make financial management easier and more efficient.
• Outsource Wisely: Free up time and energy by outsourcing tasks like cleaning, allowing you to focus on high-value activities.
• Prioritize an Emergency Fund: Building a 3-6 month emergency fund can alleviate significant financial stress.

Beyond individual strategies, Cindy discusses the importance of open communication with partners, recommending monthly financial check-ins and finding a financial advisor who can speak to both parties. The episode also highlights unique options like medical cost sharing and direct primary care, illustrating that there's more to healthcare and financial planning than traditional insurance models.

The interview concludes with a discussion of estate planning and the innovative solutions Verde Capital Management uses to make this process easy and accessible. It’s a conversation brimming with practical advice, empowering stories, and a good dose of humor—the perfect combination to help you navigate the sometimes-scary world of finance.

Connect with Cindy HERE!

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Property Tax Panic! Where Are Taxes Exploding (and Should You Even Care)?

Hey real estate investors! Let's talk about the elephant in the room – property taxes! They're rising across the country, and it's not just a little creep; we're talking full-blown explosions in some areas. In this episode of The NoteCloser Show, we're diving headfirst into the data to uncover where property taxes are skyrocketing (and why you should probably care). Grab your coffee (and maybe a stiff drink – we're talking about taxes, after all!), because this one's a wild ride!

This episode isn't just a dry recitation of facts and figures; it's a deep dive into the reasons behind the surge in property taxes. From the aftermath of natural disasters to the impact of booming populations and soaring inflation, we unpack the complex forces pushing property taxes through the roof in many areas.

Key takeaways from the discussion:

• Texas Leads the Taxpocalypse (But Not Alone!): Our deep dive into Redfin’s data reveals some eye-popping numbers. Texas takes the crown for the highest percentage increase in property taxes, but Florida, Indiana, and other states are hot on its heels. Prepare for some serious sticker shock when you look at some of the areas. HERE IS THE FULL ARTICLE AND MAP
• Where Are Taxes Rising the Fastest? We explore the top five metro areas with the most significant increases in median monthly housing payments (hint: Indianapolis and Atlanta top the list with increases of over 100% since 2019). Get ready to be amazed and a bit terrified of those increases.
• The Florida Factor: We delve into the reasons for Florida's explosive tax increases, covering natural disasters, population booms, and the impact of rising home prices and HOA insurance costs. This is not just a Florida problem, as these are all contributing factors to increased taxes elsewhere, especially in states with no state income tax.
• Digging Deeper Than the Headlines: We go beyond the simple percentage increases, examining the effective tax rates and the relationship between property tax increases and home price appreciation. You'll learn how to separate the hype from the reality.
• Strategic Planning: The show isn’t just about doom and gloom; we’ll discuss strategic planning tips for dealing with rising property taxes. This includes understanding how your investment goals and strategies might be affected by the ever-changing tax landscape and identifying market trends.

Beyond the Numbers:

This episode is less about fear-mongering and more about informed decision-making. We're arming you with the knowledge you need to navigate the challenges of rising property taxes and make sound investment choices. We tackle everything from effective tax rates to the impact of natural disasters, providing a comprehensive look at the current situation and helping you plan for the future.

Take Action!

Want to see exactly where property taxes are skyrocketing? We share Redfin’s interactive map in the description below. Don't get caught off guard – plan for this now!

CLICK HERE TO CHECK OUT THE TAX MAP

This podcast episode is crucial listening for any real estate investor. The discussion provides actionable insights that can help you make better decisions, stay ahead of the curve, and protect your investment from rising property taxes. What are your biggest concerns regarding property taxes? Let us know in the comments!

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