In this thought-provoking episode of Uncommon Estate of Mind, we delve into a hot topic in the realm of personal and professional development: the choice between taking courses and having a mentor to achieve our goals.

Join your hosts Joey and A.D. as they engage in a compelling debate, each championing a different approach to reaching milestones and unlocking our full potential. In one corner, we have Joey, an advocate for structured learning through courses and programs. On the other side, we have A.D., a proponent of personalized guidance and real-world experience.

Together, they explore the merits and drawbacks of these two distinct paths to success, bringing their opinions and experience to the table. Throughout the episode, our hosts navigate a series of thought-provoking questions, allowing them to challenge each other's viewpoints, and engage in insightful discourse.

Listeners will gain valuable insights into the benefits of taking courses, such as acquiring specialized knowledge, building a strong foundation, and leveraging established curricula. Meanwhile, they'll also discover the advantages of having a mentor, including personalized guidance, networking opportunities, and experiential learning in a supportive relationship.

As the debate unfolds, Uncommon Estate of Mind balances the arguments, ensuring equal representation of both perspectives. Listeners will be empowered to critically evaluate their own goals, learning styles, and preferences, enabling them to make more informed decisions when it comes to their personal and professional growth.

So, whether you're a lifelong learner seeking a structured approach or someone yearning for individualized guidance, this episode promises to challenge your assumptions, expand your understanding, and equip you with the tools needed to make an informed choice between taking courses or finding a mentor on your journey towards achieving your goals.

Tune in to Uncommon Estate of Mind and join the conversation as we unravel the mysteries of personal growth, learning, and mentorship in the pursuit of success.

Contact Uncommon

https://www.instagram.com/uncommonestateofmind/

[email protected]

Connect with Joey Garba:

Instagram - https://www.instagram.com/mrjmaze/

Connect with Ademola Dawodu:

Instagram - https://www.instagram.com/adtheflyrealtor/

Personal - https://linktr.ee/adtherealtor

TMG Investment Real Estate - https://tmginvestments.com/

The bad news is that high-interest rates are affecting the property market. 

The good news is that if you can find a good deal with high-interest rates, that's going to be a great deal when the interest rates come down.

AD is explaining the intricacies of interest rates to Joey, helping us all understand how these seemingly small and insignificant percentage points do add up when you're dealing with tens of thousands of dollars. 

Perhaps you too are in the same boat as Joey, looking to extend your portfolio from arbitrage and short-term rentals to make a play for a long-term ownership investment in the multi-family space. 

If that's the case then Joey's cautious approach and AD's clear logic and reasoning will appeal to you and help you appreciate where the risk lies as you take that next Uncommon step. 

In This Episode:

-Understanding how and why interest rates affect property prices

-What will happen to your long-term appreciation due to high-interest rates?

-Appreciating that everybody needs somewhere to live

-What is your negotiating power when interest rates rise?

-Are you getting the right kind of property investment advice? 

And more!

Resources:

Fund and Grow - https://www.fundandgrow.com/webinar-registration?ref=joeygarba&session=ondemand

Disclaimer: This Audio and description contains affiliate links, when you sign up using an affiliate link, we earn a small commission. This comes directly from the company and does not affect you in any way.

Contact Uncommon

https://www.instagram.com/uncommonestateofmind/

[email protected]

Connect with Joey Garba:

Instagram - https://www.instagram.com/mrjmaze/

Connect with Ademola Dawodu:

Instagram - https://www.instagram.com/adtheflyrealtor/

Personal - https://linktr.ee/adtherealtor

TMG Investment Real Estate - https://tmginvestments.com/

What are the considerations you need to give as a short-term or long-term rental host? 

Joey and AD are laying the groundwork here for some really important learnings as you embark on the rental business. 

Who's your housekeeper and are you prepared to fire them if they're not up to the job? 

Because best believe unhappy tenants will leave a poor review that will deter other potential guests! 

Who's your handyman for when things go wrong, and who's your runner when you lose a set of keys?

Joey's got us dialed in on those short-term concerns, and then AD picks up the ball and looks at things from a long-term rental perspective. 

How are you inspecting your property to ensure it's being looked after? 

How are you revising your lease and do you know if your property is zoned for certain business activities?

There's a lot to think about before signing up as an Airbnb host and expecting the cash just to roll in. 

Joey and AD make thinking these things through an audible pleasure – one that will save you time and money in the long run. Be Well Rounded – learn all you can. 

In This Episode: 

-Breakdown of self-management in the short-term rental space

-Why the housekeeper is the most important member of your team

-Understanding the role of the 'runner' in your short-term rental operation

-What is an OTA?

-Getting a security system to oversee your property 

-What are your methods for rent collection?

-How are you constructing your lease agreement? 

-Establishing the correct medium of communication with your tenant

-Making sure you're building compliant – and having regular inspections

-Keeping accurate financial records

-Using the right marketing strategy for your long-term rental business

And more!

Contact Uncommon

https://www.instagram.com/uncommonestateofmind/

[email protected]

Connect with Joey Garba:

Instagram - https://www.instagram.com/mrjmaze/

Connect with Ademola Dawodu:

Instagram - https://www.instagram.com/adtheflyrealtor/

Personal - https://linktr.ee/adtherealtor

TMG Investment Real Estate - https://tmginvestments.com/

Should your first real estate investment be self-managed, or should you be hiring professional property management? AD the Fly Realtor and his boy Joey Garba are arm wrestling again, debating the pros and cons of outsourcing your first property deal to professional management.

AD gets the ball rolling, hitting home hard about time freedom and how the 8% to 12% that you end up spending on management is worth it in the long run so that you can get your hustle on elsewhere. He’s also talking about how you get to tap into those relationships that the management companies have with maintenance guys, and how you can take advantage of that. 

For Joey, that money that you’re giving away is better to keep for yourself as you learn about your property by immersing yourself in everything from the lease agreement to the work that needs to be done on-site. 

As usual with these guys, this is a super fun way to learn about real estate while watching two best friends battle it out with their pretend beef. As you plot what’s best for you, the advice is solid: Be Realistic!

“I highly, highly suggest that you first self-manage... Why? A couple of reasons: one, you save 8% to 12% of the cash that’s coming your way!” ~ Joey Garba

In This Episode:

- How much do management companies usually charge?

- How to take advantage of the relationship that property management companies have with suppliers

- The importance of knowing every responsibility within the business

- Do property managers do what they feel like when they take control of your property?

- How to immerse yourself in your business and get increased knowledge on your first investment

And more!

- Contact Uncommon - https://www.instagram.com/uncommonestateofmind/

[email protected]

Connect with Joey Garba:

- Instagram - https://www.instagram.com/mrjmaze/

Connect with Ademola Dawodu:

- Instagram - https://www.instagram.com/adtheflyrealtor/

- Personal -https://linktr.ee/adtherealtor

- TMG Investment Real Estate -https://tmginvestments.com/

Welcome to Part Two of Understanding Your Real Estate Credit and Loan Options. If you haven’t checked out the previous episode yet, do yourself a favor and download and listen to that episode first — and then come hit up Joey and AD here. 

Credits versus loans — which is better? There’s so much to unpack in this conversation that Joey and AD don’t have time to beef. They’re just straight up running you through your options on how to get a long line of credit, fast. 

They’re also asking you to Be Strategic. Can you go through your phone and find partners with money who aren’t prepared to put in as much sweat equity as you? 

There are lots of ways to get the capital required to get into real estate — and then there are also lots of things to consider as you develop your relationships and build your Uncommon Estate of Mind. 

“All the money you’re paying back to your credit is your money, and you can reuse it. After you repay it to yourself, you can then go ask for a line increase.” ~ Joey Garba



In This Episode:

- The scenario of an East LA duplex that costs $500K

- Getting a corporate credit card – and not having the credit reflect on your personal score

- How to build up a solid line of credit

- Understanding the difference between standard and forced appreciation

- How quickly can you get $125K in business credit? 

- The drawback of using a standard FHA loan 

- How to hook up an FHA 203k loan — and get $35K in repair costs

- When is a DSCR loan a good idea?

- Using online tools to get an estimate of rentals in your area 

- Finding the right people to partner with you 

- Developing good relationships with your bank to get bigger loans

- Understanding Joey and AD’s hybrid approach  — the ‘hack’ 

- Why shared economics — partnering with other people — is a game changer

And more!

Resources:

Join The Free Business Funding Training Here

- Contact Uncommon - https://www.instagram.com/uncommonestateofmind/

[email protected]

Connect with Joey Garba:

- Instagram - https://www.instagram.com/mrjmaze/

Connect with Ademola Dawodu:

- Instagram - https://www.instagram.com/adtheflyrealtor/

- Personal -https://linktr.ee/adtherealtor

- TMG Investment Real Estate -https://tmginvestments.com/

What is corporate credit versus business credit? What do ARM, FHA, and DSCR mean as you try to make sense of the acronyms in the real estate game and get your first property? 

Joey and AD aren’t beefing in this information-packed episode of UnCommon Estate of Mind — rather, they’re fleshing out all you need to know about your credit options and what loan option is best for you as you enter the exciting world of owning real estate. 

This information is golden for anyone wanting to separate their personal credit from their business credit, as well as understand how banks are going to assess your credit score. 

With as little as $50K down payment, you could be on your way to owning your first property. 

Are you keen to get $35K in repair costs as part of your loan too? How you do that – and more – lies inside for you on UnCommon Estate of Mind.

In This Episode:

- How did Joey and AD first learn about credit?

- Unpacking Joey’s Three Tiers of Credit

- Personal Credit versus Business Credit – what’s best?

- Understanding the Utilization Rate

- Getting 20% more cash through your business

- What is corporate credit? 

- What is an EIN number?

- Unpacking AD’s Top 3 Loan Options 

- Understanding ARMs (Adjustable Rate Mortgage) 

- Can you flip a property using an FHA loan?

- Factoring in $35K in repair costs with an FHA 203k loan

- Weighing up the pros and cons of a DSCR loan

And more!

- Contact Uncommon - https://www.instagram.com/uncommonestateofmind/

[email protected]

Connect with Joey Garba:

- Instagram - https://www.instagram.com/mrjmaze/

Connect with Ademola Dawodu:

- Instagram - https://www.instagram.com/adtheflyrealtor/

- Personal -https://linktr.ee/adtherealtor

- TMG Investment Real Estate -https://tmginvestments.com/

Joey and AD are in agreement today, talking to their younger selves – and they're presenting them with reasons to embrace delayed gratification and learn to appreciate that the reward is in the process. To understand our enemy we first have to identify it and give it a name. 

Today's topic and enemy is 'lifestyle creep' and it's something we are all guilty of from time to time. Lifestyle creep happens when our standard of living improves because, say, we get a raise, and so too then does our discretionary consumption on non-essential items increase. The luxury goods that we buy become perceived as a necessity versus a want.

Are new Air Jordans a 'right to have' or a choice? What if you invested that extra $20K per month you were making instead of spending it on living large? Joey and AD are considering this, and more, in an entertaining conversation that will get you thinking about what investments you should be making – and the attitude you need to adopt as you do. Come and get it!

In This Episode: 

- Are multifamilies going to be dealing with more vacancies in 2023?

- Making a smart arbitrage pivot if the economy changes 

- Understanding the meaning of 'lifestyle creep'

- What should you do with the extra cash you make instead?

- Investing in yourself and in your business in your 20s

- If you don't know what you're up against you don't know how to prepare for it

- Appreciating delayed gratification

- Why improving your credit score is a good place to start

- Why you can't make an investment and expect huge returns right away

- It's not 'get rich quick' but 'get rich for sure'

- Why everything has to do with mindset

- Perfecting your task for that day – how that progress adds up over time

- How the reward is in the process

And more!

Resources:

CBRE Article Joey mentions - Multifamily | CBRE

https://www.cbre.com/insights/books/us-real-estate-market-outlook-2023/multifamily

- Contact Uncommon - https://www.instagram.com/uncommonestateofmind/

[email protected]

Connect with Joey Garba:

- Instagram - https://www.instagram.com/mrjmaze/

Connect with Ademola Dawodu:

- Instagram - https://www.instagram.com/adtheflyrealtor/

- Personal -https://linktr.ee/adtherealtor

- TMG Investment Real Estate -https://tmginvestments.com/

Is short-term rental a better way to get started in real estate than multifamily investments? Joey and AD are time-traveling in this episode of "Uncommon Estate of Mind" back to that time in 2020 when y’all know what was going down (but we don’t want to say because we don’t want to upset the algorithm)!

Together they are crunching the numbers on what Joey did with $25K to get into arbitrage (short-term property rental) and comparing that with what Joey’s profit would have looked like had he gone the multifamily investment route. 

Along the way, they’re arguing and debating as only two best friends can, offering up clear explanations of acronyms and sharing the loopholes they’ve found that make the system work for them. Want to know what BRRRR, HELOC, and PITI stand for?  Want to know how to get a corporate lease so you can sub-let? Tune in and find out. Even though it’s no longer 2020, the lessons they’ve learned — and the knowledge they are now imparting — are more valuable than ever. Whatever investment path you choose, be open to opportunity.

“The more that short-term rentals and Airbnb gets engrained to our society, the more lenient these laws and these leasing agreements are going to continue to be”. ~ Joey Garba

In This Episode:

- The easiest path to entry as a short-term rental host

- Starting with $25K as your initial investment in December 2019

- Having your first and month’s last rent, and paying your holding deposit

- Being a personal guarantor on your business when your business rents your property

- When 2020 hits… it’s a brand new ballgame

- What is arbitrage?

- Getting a corporate lease so you can sub-let

- What is HELOC — a Home Equity Line of Credit

- The BRRRR strategy: Buy, Rehab, Rent, Refinance, Repeat

- Unpacking PITI: Principal, Insurance, Tax, Interest (the total of what makes up your mortgage payment)

- Saving money as a landlord by living in half of the duplex you own

- How the money you make should have a responsibility

And more!

- Contact Uncommon - https://www.instagram.com/uncommonestateofmind/

[email protected]

Connect with Joey Garba:

- Instagram - https://www.instagram.com/mrjmaze/

Connect with Ademola Dawodu:

- Instagram - https://www.instagram.com/adtheflyrealtor/

- Personal -https://linktr.ee/adtherealtor

- TMG Investment Real Estate -https://tmginvestments.com/

What is a better investment: short-term rentals or a long-term tenant?  Welcome to Uncommon Estate of Mind where Joey Garba and AD The Fly Realtor debate different ways you can leverage your next investment to create time freedom, legacy impact, and generational wealth.

In this first episode they're going toe-to-toe on the hot topic that is short versus long-term rentals. There are pros and cons to both – so long as you vet your tenants carefully and don't end up with cons in the building!  

What's so refreshing about Uncommon Estate of Mind is that it's not trying to sell you anything. These are just two guys (two childhood friends) sharing what they know about real estate and the lessons they have learned along the way – all so that you don't have to. 

There's advice on the differences between a tenant or guest, and the merits of installing a decibel meter in your apartment. And it doesn't feel like advice because it's being discussed in such a lighthearted yet argumentative way. Please join Joey  and A.D. and develop your Uncommon Estate of Mind. Be uncommon. Be curious. 

"I believe that if you're doing enough upfront to make sure you know what's going on, you can inherit tenants and be okay with it." ~ @ADTheFlyRealtor

In This Episode:

- Understanding the eviction process in California

- Why short-term guests don't have tenant rights

- Using a decibel meter to keep a lid on your guests' noise levels

- Using doorbell cameras to see if there's irregular comings and goings

- Putting aside money as a landlord when rent gets paid

- Doing the appropriate background checks on your tenants

- Checking out past reviews of potential clients from other hosts

And more!

- Contact Uncommon - https://www.instagram.com/uncommonestateofmind/

[email protected]

Connect with Joey Garba:

- Instagram - https://www.instagram.com/mrjmaze/

Connect with Ademola Dawodu:

- Instagram - https://www.instagram.com/adtheflyrealtor/

- Personal -https://linktr.ee/adtherealtor

- TMG Investment Real Estate -https://tmginvestments.com/

Do you have to own a business to get started in real estate? Do you make enough money to get skin in the property game? Do you need a license to start your investment side hustle? These are the questions that Joey and A.D. are here to answer for you on Uncommon Estate of Mind. 

Join these two lifelong friends who’ve been in business together since childhood as they open up about their losses and share their successes from what they’ve learned in the real estate game. We’re talking short term rentals to multi-family investments; debating ways to leverage your income as well as business credit and how to create that time freedom and generational wealth that everyone is raving about. 

It’s all good and it’s all up for grabs on Uncommon Estate of Mind where these two men from LA network with industry leaders and bring the knowledge on how you can jumpstart your extra ordinary entrepreneurial & investment path. Whatever you choose to be, be uncommon.