The Wealth Elevator Podcast: Real Estate, Taxes, Investing

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Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word "ebook" to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar - I'm an Engeneer, Enginere, Engenere... I'm good with math!

________Here are the Show Notes________

Jay Papasan is a bestselling author, vice president and executive editor at Keller Williams Realty International, and co-owner, alongside his wife Wendy, of the Papasan Properties Group in Austin, Texas. His most recent work with Gary Keller on The ONE Thing has garnered more than 200 appearances on national bestseller lists including #1 on the Wall Street Journal bestseller list. Before joining Keller Williams Realty, Jay served as an editor at HarperCollins Publishers, where he worked on such bestselling books as Body-for-Life by Bill Phillips and Go for the Goal by Mia Hamm.

Jay serves as Gary Keller’s co-author and executive editor on best-selling titles including: The Millionaire Real Estate Agent, The Millionaire Real Estate Investor, SHIFT: How Top Real Estate Agents Tackle Tough Times, FLIP: How to Find, Fix, and Sell Houses for Profit,HOLD: How to Find, Buy, and Rent Houses for Wealth, and The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results. He also co-authored SHIFT Commercial.

Best investing books Simplepassivecashflow.com/books

The domino theory - momentum

18-25% total return for SFH

Start small - and go small first fast

Co pairing tasks

Focusing question - what is the one thing I can do that will make everything else go away

411 - annual goals

Work a maze backwards - begin with the end in mind

Counter balance not balanced

When do you stop pushing and start living?

Don't buy your primary residence

Involving your spouse

Hosted on Acast. See acast.com/privacy for more information.

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word "ebook" to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar - I'm an Engeneer, Enginere, Engenere... I'm good with math!

________Here are the Show Notes________

Aside from blog, owns 15 rental properties in Northern Colorado generating $7K/mo passive income.

Harder to cash flow around Denver. Looking out-of-state.

Since Sept 2015, has not purchased new SFH. Focusing on commercial, flipping, which was best use of time.

Always demand for low-end flips (less risk v. high-end).

Write own goals, don't rely on other people, and think differently to develop himself.

Don't C.E.F. - especially if you're not a contractor.

Some opportunities in purchasing primary residential properties, but not going to stay there forever.

If you want to be creator and sell houses full-time, get a real estate license. If part-time, not really recommeneded unless you own a couple properties already and can expend time.

Goals for more passive income ($100k/mo) and freedom = happy.

Change your mindset and try. Otherwise, you're stuck where you are (ex: frugal). What's your motivation and dreams?

Let people drink their haterade.

Tough to let go, but happier to save time by hiring out on blog, website, e-mail, property management, etc.

Not a tech-savvy guy, but build blog and all that SEO!

Wished more good people to hire directly instead of 3rd parties.

Don't force yourself to buy something - especially in a sellers market.

Are you taking action that's getting closer to your goals or treading water? Take time for yourself.

Always lot of stuff to do, but don't stress about it. A couple mistakes or not getting things done will not ruin you.

First blog comment was fulfilling. Drives motivation on how to help give back to others.

Check out www.investfourmore.com and podcast. 453 articles and 117 podcasts.

Contact info: [email protected]

Hosted on Acast. See acast.com/privacy for more information.

YouTube Link: https://youtu.be/KrOhA6xv6rc? sub_confirmation 1

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word "ebook" to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar - I'm an Engeneer, Enginere, Engenere... I'm good with math!

________Here are the Show Notes________

Income has a cap

Bought first house at 21

Take business profits into buy and hold rentals

Say out of Seattle

Mount Vernon WA

Tell the agent in super simple terms

Comments on meetups

Should i get started now?

Hosted on Acast. See acast.com/privacy for more information.

Simplepassivecashflow.com/buck

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the  2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word "ebook" to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar - I'm an Engeneer, Enginere, Engenere... I'm good with math!

________Here are the Show Notes________

We heard you on podcast 17 and you told your story - http://simplepassivecashflow.com/podcast-17-serial-entrepreneur-dr-buck-joffery-wealthformula-podcast/

Hearing your story high paid doctor. Describe yourself as an employee?

Great butt kisser

Lane’s getting fired story

So you were fired what gave you the security to not go back?

Lane’s getting fired story

http://richhabits.net/catastrophes-reveal-inner-greatness/?mc_cid=610082b2da&mc_eid=a129173ca3

Why professionals are trained to go through the system

The two excuses why not to leave the professional system

Wealth formula - Mass (money) x Velocity (Leverage) = wealth

You need to make money

What happen to assisted living project?

Taking shots and trying things out? Where is the transition point from taking singles to going to homers?

We are talking about Jorge from Simplepassivecashflow.com/ahp

SPC listeners are usual creatures. Get me in a room with a bunch of W2 workers talking about their frequent flier miles and their cars and I'm completely turned off. What are your thoughts on coping with this?

What are some ways you teach the entrepreneurial spirit with your kids?

What if they just want to work for the man or do peace corps?

Simplepassivecashflow.com/buck to get the free 1-hour coaching offer from Buck.

-----------------------------------------------------

Our worst W2 moments which were our Han Solo Moments

How to make it as a medical professional? - Kiss Butt 😁

We are robots.

For more content go to Simplepassivecashflow.com/buck

Hosted on Acast. See acast.com/privacy for more information.

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word "ebook" to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar - I'm an Engeneer, Enginere, Engenere... I'm good with math!

________Here are the Show Notes________

The two biggest enemy of success is fear.

It inhibits you from taking action. And nothing happens without that.

Fear, never goes away, no matter how successful you become. Same thing is said about CrossFit workouts… they never get easier. You just plateau to a new level of suck.

The same fear exists for the successful, why don’t they hold them back from taking action?

It made me push to busy my first out of state rental in Birmingham from Seattle, sell my Seattle rentals to 1031 into a dozen out of state properties, and lately moving toward a portfolio of syndicated private placements. I don’t know what’s next?

Successful people simply make a habit of taking action, despite the fear. They have gained the habit/muscle or mental six pack of taking action.

By taking action do you gain the experiences of facing obstacles and overcoming them, facing mistakes and learning from them, taking risks and surviving failure. Gained muscle or even a crazy mental eight pack. You draw upon these experience in times of hardship or difficulty.

Obstacles always change but your ability and track record to move around it is what is most important. When we evaluate people to work with Track-record is always important. Obvious we want to work with someone who is proven but realistically every situation in the future will be different and we are really looking for someone who can deliver despite the obstacles. We are not looking for who is a genius (although it helps) or even with some competitive advantage but mostly good character and ability to overcome obstacles… dare I say turn obstacles to opportunities.

There are a couple leads that have had touch times in their deals lately due to circumstances outside their control. What I know of their mindset is that they are freaking resilient that they will overcome the obstacles.

When crap happens we want say:

“we’ve faced a similar uncertainty before and this was the mistake we made and need to avoid”

“we’ve taken a similar risk before and we survived”

Do not mistaken brazen courage with competence/confidence. There are a lot of people who fake it till they make it.

Risk: If you are in aware of the risks and rewards (mentor/stage 3 of 4 of learning) then take the most risk as possible. The Shape ratio theory that I believe in that the more risk you take the more reward you get exponentially. Therefore take as much risk as you can to capitalize on the most reward. BUT… huge caveat here… only take the most risk that you are willing to take that if the worse that can happen you can live with.

This is why I don’t skydive.

This is why I stick primarily to non-recourse deals where the apartment is stabilized.

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 Once you have gone through the majority of podcasts feel free to sign up for a chat - Also to get into my projects please setup a call because we need to have a pre-existing relationship.

Setup a call here: https://calendly.com/simplepassivecashflow/20/

SimplePassiveCashflow.com is for working professionals who are looking for diversification and better returns outside of traditional investments such as mutual funds and stocks.

Check out my Free Resources Below:

1) The Hui Deal Pipeline Club is a free investor club where I filter investments and underwrite the numbers and partners myself.. Unlike other investor lists and groups, my investors have personal access to me and know that I personally have skin in the game investing alongside with my investors. Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across:

Simplepassivecashflow.com/club

Mastermind Club: If you or someone you refer invests at least $50K into one of my future deals you will be invited to my exclusive Ali'i Mastermind with other 12-20 other serious investors to discuss deals and our own portfolios. For more details: SimplePassiveCashflow.com/mastermind

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simplepassivecashflow.com/coaching

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Hosted on Acast. See acast.com/privacy for more information.

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word "ebook" to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar - I'm an Engeneer, Enginere, Engenere... I'm good with math!

________Here are the Show Notes________

1) How much CF are you making today and how are you doing it?

Generally I’ve fluctuate based on buying/selling of real estate. Right now it’s all from passive investments in apartments. My peak was couple thousand a month.

So as I started investigating other investment activities I dabbled in:

P2P investing - Returns were decent (I think I made like 18%), extremely passive once you funded loans. I was fortunate that none of the ones i lended on defaulted so that’s real risk. While you are earning interest payments, it goes back to account so extremely illiquid. You wait out the loan term which can be long. No control. I’d rather do private lending that’s backed by a physical asset.

Dividend stocks - Lot of research, reading investment newsletters, etc. You’re still at the whimsy of the stock market. I could see doing this in future maybe if there’s a crash and you can pick up trophy companies cheap. Again no control.

Gold/silver - I got caught up by the Gold bug rhetoric of “the dollar not backed by anything" “ the crash is coming” “ look how much debt we have” blah blah . A lot of similar stuff you see some Cryptocurrencies saying now. To me you need treat as a store of value and something you don’t care about price. And you need to hold physically. It’s a chaos hedge. But it doesn’t cash flow. And if shit really did hit the fan, you’re not going to need gold, you’re going to need guns, lol.

Internet business (I did sell it later for a small gain). A lot of work…it’s a business. You can get caught up in the 4-hour work week thing, sell your ebook, etc but this takes consistent cultivating like any other business. I had an instance where a change in Google algorithm killed my profit.

Infinite banking (which i’m all in on still) - You’ve had podcasts before on this topic about all the benefits but it’s an amazing vehicle that complements real estate. Personally I don’t think of this as a true investment, it is a savings vehicle. I treat it as my cash war chest and foundation. Downsides to me are that you have to understand and treat as a system otherwise you’ll fail miserably. It’s also literally a lifetime commitment.

Ultimately I settled on real estate starting the single family route in Dallas area (buy, rehab, rent, self manage, etc). I eventually saw the light (What was the light) of multifamily and started investing passively, sold off my single family houses and now a new aspiring sponsor/operator. There’s all the typical things people say (econmies of scale, non-recourse, etc) but my a-ha moment (my 2nd Han Solo moment I guess you could say) was when I started looking for another rental house. I realized adding another $300/mo cashflow wasn’t going to drastically change my life. If I wanted to level up faster, I needed scale faster. Multifamily can do that. When you get a large check for hundreds of thousands from a disposition event on an apartment complex, that’s life changing and can get you places.

(So now you are in the stage where you are doing all the hard work before the success... lets go through this list of things that you are doing... this add value to the listener and maybe we can have a discussion about best practices - Just think in the future when a future investor listens to all the shit you did to get into this)

1) Joined mentorship program (I would rather not say who they were) No problem. Main best practice to me is it’s almost a requirement for MFH. This is a must in addition to all the other education (reading, podcasts, etc)

2) Regularly Contacting brokers/Signing up for lists

3) Evaluating deals

4) Scheduling in-person meetings with with brokers to connect (what did you do). My partner and I specifically reach out to have a meetings at a broker's office. We’d talk about what we’re doing, looking for, etc and it gave us an opportunity to meet other associates. I’ve tried to do in-person at their office or if I can take them to coffee. For out of town brokers we’d do over phone or if we travel to see a deal (leveraging a current listing of theirs as a talking point to get convo started).

5) Making regular LoopNet rounds

6) Going on property tours

7) Networking on BiggerPockets/LinkedIn/Facebook, etc

8) Going to Meetups, events, and conferences

9) Partnered up with another new sponsor/operator to duplicate efforts, fill gaps, etc (What do you do well and what does he compliment).

My partner is better at making connections and relationships than I am. I’m more analytical and investigative. He's an eternal optimist, while i’m Mr. Engineer worst case scenario. He can get shiny object syndrome whereas I’m much better at keepings things on task. We’re both at the same level/point in our investing so we have a good synergy with the perspective we’re coming from. One of the things we like is if it takes looking at 100 deals to get 1, maybe us both looking cuts that in half lol.

2) What is your Han Solo moment…

I had two.

1- One was a couple years into my career and i started think there was more than this for 30-40 yrs and began exploring other stuff (as mentioned before)

2- Shift from single family to multifamily. My a-ha moment mentioned before.

3) Worst life/business moment what did you do a er? Lesson learned?

I’ve had those crappy issues that come up with rentals, like plumbing issues, tenant issues, foundation issues, etc which sucked. Although one big one was not listening to my wife about a single family house. I had a tenant turnover in one of my rentals and I had been mulling about selling and focusing on multifamily. Instead of listening to my wife who encouraged that, I did the easy thing which was find a new tenant. I had gotten so in the routine and it was the easy option even though I knew I was ready to step into next thing. It ended up being my worst tenant ever (she paid but was really needy) and a headache. I ultimately sold it a few months later.

Lesson learned: Listen to your wife more. While she isn’t involved directly in the nuts and bolts, she is a better judge of character and intangibles in both myself and others.

4) Current 2‐week experiment and 6‐month project? (90‐180 day goal) A mark of a high performer is to put your ego aside and accept the help of others and mastermind maybe folks can help you by you asking.

2-week: Let’s see when we get there. Lot of personal type things likely going on (not sure if that’s valuable for your audience?)

6-month: Sponsor a 75+ unit, class b/c apartment. That’s my one thing.

5) What is your simple passive Cashflow number? Now imagine you had 2x that amount... Describe your ideal day, detailed rou ne, and what projects you are working on.

6) Something that you have recently or thought about “burning your cash” on for me savings or an improvement in quality of life.

Meal service, not the recipe in the box but the fully prepared, proportioned individual meals. I enjoy cooking but not thinking about what I have to eat is something that I find makes my day easier, especially now that I have a baby. It’s just fuel, i can eat the same thing everyday and be fine. Plus it helps me stay on the straight line nutrition wise.

There’s a good book on this topic called Happy Money I recommend.

7) Something that you changed your mind on? Our ego o en gets in the way of greatness.

2 Things:

1. I used to think of insurance for the financial aspects only but now I think about the riders, disability kickers, etc. Having a kid changes your thought process so now i’m more thoughtful about things like insurance, estate planning, etc. I’m still behind on that stuff, but now these long term planning things are in my thoughts.

2) Owning a house isn’t a big deal. We recently sold our house and moved to an apartment for a number of reasons...yada yada yada. I’m not full Grant Cardone though.

8) In this sellers market... what are you inves ng in? What should a someone who does not have a substan al level of cashflow yet be inves ng in?

My cash value life insurance/infinite banking strategy is my core foundation. I see that as the warchest and can let me sit on “cash” without losing too much. I’m obviously still actively pursuing multifamily, it’s harder of course with the current market, but deals can be found in all markets.

Nothing wrong with being patient if you think things are frothy. 100% of nothing is better than any percent of a bad deal. Being patient is the hardest thing.

[email protected]

Hosted on Acast. See acast.com/privacy for more information.

YouTube Link: https://youtu.be/BXbgwbCcTnw

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word "ebook" to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar - I'm an Engeneer, Enginere, Engenere... I'm good with math!

________Here are the Show Notes________

Dealing with an eviction:  

“Hi Lane! I delivered an evection notice to tenants yesterday and had the opportunity to speak with husband at the door. He stated that he and his wife had both started new jobs and would be able to make one full payment in a week (this was the story for seemingly a month or two) and would be able to make a partial payment in 10 days. Before we proceeded forward with an agreement, wanted to see if that works for you. They are currently $3,000 behind before for a total of two months.  

Here is what I did…

I okayed the concession to give more time. I requested some sort of proof of new job status (a hire letter or email). I am more than willing to work with people… These have been long tenants of almost a couple years and B+ /A- home that rents for $1500 a month.

Caveat… I am really near to selling these properties this year and don’t really want to rock the boat in terms of enforcing long-term behavior.

Revamping my turnkey rental content – simplepassivecashflow.com/turnkey

I have currently sold 2 of 10 SFH rentals (P&L offer)

One of them Columbia is had $27K to get back online. Going to pay 37K to sell retail. 

Another property Riverwood just went vacant. Going to pay 20-30K to sell retail too. 

Talked with my team – PM, Contractor, couple other hui members

Is it a good area to go retail

Will I recoup capital overlay based on comps 

Soon I will unrolling my private lending platform. CrowdfundAloha.com! So if you are looking for a 1st lien property with my partners let me know. We are talking about even providing turnkey services.

This is not really a money making things cause the margins are just really tough these days.

 After over 1000 strategy calls with investors and coaching clients over the past couple years here is what I tell W2 employees... For those who are able to save more than $30k a year or have substantial liquidity (over 200k), being a landlord and especially flipping is a lot of work. If you like it cool/good for you... but just remember why we got into this... To be free from a JOB. A lot of us (80%) who stumble upon simplepassivecashflow.com and start drinking Kool-Aide will be financially free in 4-7 years pending taking action. So I always urge people to start with the end in mind and take a more passive approach.

Do the math here… you with 300 dollars per property (2 months of work to buy a turnkey rental) you are going to need 20-40 of these to replace your income. I have 10 of these and have systems in place but have 1-2 evictions a year and 3-4 big things that happen. Image if I had 30, just 3 x those numbers.

Directly investing in a turnkey rental or small MFH is a good way to start to learn and build up the war chest to go into my scaleable investments such as private placement syndications. Whatever you do, try to be as close to the investment as possible. This is the fundamental problem I have with Wall Street who takes too much fees off the hard-working efforts of the middle class. 

Looking at some deals. So folks in the Hui Deal Pipeline Club (who have reached out to me and built a relationship) will see those really soon. :P I hope I have enough liquidity… I might need to borrow some money :P

Single Family Homes becoming a legitimate asset class – Spring 2018 Conference

The lending requirements and new loan products is slowly changing. I know a lot of you have heard that Short Term Rentals (Air Bnb) income is starting to become part of the loan calculations.

Something I'm following is lending on large portfolios of single-family homes. Some of the highlights:

1) up to 10-year term with 1.25 DSCR

2) portfolios minimum size of 50 properties

3) assumable

Pilot program details download here - https://drive.google.com/open?id=1aTIbru2HEPbw_KLHTvU5-Iyk0aoQB8Gx

Look even a SFH conference - https://drive.google.com/open?id=1cI15DnBUn8LRA54NTCh667exeR3OtlIu

Other Fannie Changes - https://drive.google.com/open?id=1WumUWsduuLnHqDi6IJXNipX7IsT9AUFa

AirBnb lending requirements loosening

I read this following article that described rent concession in a few major cities that I like as apartment markets.

http://www.nreionline.com/multifamily/more-apartment-landlords-offer-free-rent-lure-tenants

Here is another article citing industrial as the sector to be in:

http://www.nreionline.com/industrial-cre-market-study/exclusive-research-clear-sailing-industrial-sector-through-2018

My takeaway is that this is important to monitor especially if you are developing because this is a leading indicator of softness in the market. It might be economic reasons or just because a bunch of new build inventory is coming online in that area. Either way…

Robert Kiyosaki has a saying, "there are three sides to a coin". 

People argue that its a good time to buy or bad time to buy. For example "mfh” is overheated or commercial is getting killed by Amazon and e-commerce. I think these are mental justifications by tire kickers not to do anything.

Sophisticated investors live on the edge of the “coin”. They buy deals out our reach of amateurs due to the lack for network/knowledge. These opportunities are undervalued, with undermarket rents, with value-add opportunity.

They are patient and don’t stray from standards that make them get crushed in a market correction. (Cashflow from other investments make this possible) They invest following the macro and micro trends and don’t gamble on gimmicks such as guessing where Amazon’s next HQ is going or where the hurricanes just crushed a market.

The trouble is as an outsider is figuring out which of these deals transcends the two side of coin and is on the edge. And starting out its going to be slim pickings due to lack of network but you have to push through this rough part.

I am from the camp that you need to become an expert or get beyond the surface level investor stuff in some freebie pdf guide or video. Or just find the right people to work with. To many people get shinny object syndrome and float from sector to sector, from a money-making activity to another, read book after book and never get anywhere. You see these people at a lot of networking events. There is a lot of movement but no tangible results. This is where coaching comes in but for some people not able to get over having another person call them out on their BS you need to get laser focused and take massive action or quit fooling yourself.

I’ll be at the notebuyerbootcamp on the panel for syndication in Chicago next week. Notebuyerbootcamp.com

Hosted on Acast. See acast.com/privacy for more information.

YouTube Link:

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar - I'm an Engeneer, Enginere, Engenere... I'm good with math! Here are the Show Notes:

Investor, advisor, writer, father. Founder at @yieldtalk. Ex @oreillymedia, @safari. Occasional consultant & speaker. Chronic reader.

1) Your background and your Real Estate investing track record?

Andrew Savikas

[email protected]

My own journey through crowdfunding, especially real estate

Related posts:

https://yieldtalk.com/my-crowdfunding-portfolio/

https://yieldtalk.com/baby-steps-getting-started-with-crowdfunded-real-estate/

https://yieldtalk.com/why-you-should-care-about-real-estate-as-an-investor-even-if-you-dont-care-about-real-estate-investing/

Importance of new crowdfunding choices in helping fuel entrepreneurism (and overall economic growth), especially serving traditionally underserved categories (eg non-males and non-tech companies outside of Silicon Valley, NYC, and Boston)

Related posts:

https://yieldtalk.com/crowdfunded-investing-democratizes-capitalism/

https://yieldtalk.com/can-crowdfunding-help-close-300b-funding-gender-gap/

Importance of understanding “convex” vs. “concave” risk, and the implications for risk/reward profile of your portfolio

Related posts:

https://yieldtalk.com/diversification-crowdfunding-investments/

https://yieldtalk.com/know-your-alternative-investing-style-zebra-or-lion/

The surprising number of choices out there for non-accredited investors

Related posts:

https://yieldtalk.com/24-ways-crowdfunding-for-non-accredited-investors/

https://yieldtalk.com/5-best-equity-crowdfunding-sites-beginning-investors/

You should also ask me about the time I had to pick between the Google IPO and a new couch (I picked wrong!)

criteria in your site, insights from looking at all though sites, and your recommendation for people to invest in rentals, crowd funding, or direct syndication.

2) Something that you have recently or thought about “burning your cash” on for time savings or an improvement in quality of life.

[Andrew] After leaving my last job (CEO of an ed-tech company for 5 years) right after my second child was born, deliberately moved to a lower-cost-of-living place and dialed down work commitments to have more time with my kids while they’re young. Definitely worth it! But I’ll never forget the night I was putting my son to sleep soon after my daughter was born and contemplating the return to a very demanding job that was only going to get more so, and imagining myself 5 years in the future wishing I could trade the money I’d made for more time with the kids while they were growing up.

3) Something that you changed your mind on? Our ego often gets in the way of greatness.

[Andrew] Having kids definitely changed my perspective about the opportunity cost of my career trajectory. Has helped me see the benefits of a more balanced portfolio approach compared with driving 1000% down one path.

Also, what it means to have a “balanced” or “diversified” portfolio. Was profoundly influenced by Nassim Taleb’s “Anti-fragile” and the concepts of convex and concave risk (and the notion of a “barbell” portfolio).

4) Anything we missed and contact info if you would like anyone to get a hold of you. URL?

[Andrew] I’m a voracious reader, and as a side project I started posting lengthy reviews of books that have shaped my thinking about leadership, strategy, business, and more. I’m also super into meditation and mindfulness, and have written about 10 books that helped me apply mindfulness to my life in general, and doing better work in particular.

And speaking of books, 13 years ago I wrote a book about Microsoft Word of all things.

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YouTube Link: https://youtu.be/v0fB-e3579E

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar - I'm an Engeneer, Enginere, Engenere... I'm good with math! Here are the Show Notes:

Currently have 5 rentals and 80k of income and trying to paying off rentals because near retirement

Also flips properties where the goal is 20k profit

He outsources much of the work

Got rentals in 2011 and regret not doing it earlier

Got hammered in 2008

Got out of the market in 2000

Interest rates are very low which is different that past times which means a good time to lock in loans, stocks are pretty high

Real estate is not for everyone and might have a wrong skill set

If you don't want to do the work be a hard money flipper but only make 10% (you need to have the money)

Don't lend to someone doing their first flip

Need to hire a virtual assistant - 5 properties can manage by self

Let go of politics

Marriage advice

Begin with the end in mind - He already knows his legacy and just lives it

Teaching kids financial principals - mindsets and habits

To teach a 12-year-old - give them money

To teach a 30-year-old - they need to want to fix the money problem

Letting go to be happy

richersoul.com

Hosted on Acast. See acast.com/privacy for more information.

YouTube Link: https://youtu.be/25UY_v17bt4

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar - I'm an Engeneer, Enginere, Engenere... I'm good with math! Here are the Show Notes:

Mark Allen is a broker

Started in 2009 and went to Westpoint Academy

Got a $35k loan to get started in FL

Started with subject to or assuming the loan method of acquisition

2015-2016 sold initial properties and started flipping properties while working the day job

lead to MFH

Saved the money from flips and day job to go into MFH

You can find Mark at SVN and check out his podcast

ROI on time is more for Commercial than residential

Provide value by driving properties, pictures, transaction beat

Yadi matrix, co-star offer owner data

Face to face is better than email or phone

Bring 80-year-old sellers flowers

once or every two months a touch point with some value

As an investor go right to the broker and all of them

CCIM is a higher level designation (but that's your job as an investor to know what a deal is)

Loopnet/correct C is a good way to find active brokers who are perhaps hungry

SVN, Marcus, Colliers, JLL, CBRE are popular brokers

Call brokers and introduce yourself

Share pitch deck with broker and share team so you show that you are credible

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