REIMastermindNetwork

Noah Hoffman is a dynamic entrepreneur who ventured into the real estate industry at a young age. Initially working for a mentor in property management, Noah quickly identified the potential of short-term rentals through Airbnb. He began managing properties for his mentor and gradually expanded his portfolio, renting additional properties to put on Airbnb. Noah's experience as a carpet cleaner also proved beneficial as he pitched the idea of short-term rentals to property owners, successfully securing management contracts. After five years of working in property management, Noah made his first property purchase - a duplex with an FHA loan, occupying one unit himself. Empowered by his remote management skills, acquired through overseeing properties out of town, Noah took a leap and started investing in Fresno, California, as the San Francisco Bay area lacked favorable cash flow opportunities. To further increase his income, Noah also ventured into building accessory dwelling units (ADUs), capitalizing on favorable legislation that made the process more affordable and accessible. Noah now successfully manages multiple properties remotely and has expanded his ADU projects to include five units. With his entrepreneurial spirit and ability to seize innovative opportunities, Noah Hoffman continues to flourish in the real estate industry. Connect with Noah Hoffman: https://www.instagram.com/noahhoffmanairbnb/ TIMESTAMPS 00:00:00 reimastermind.net 00:01:04 Started as an entrepreneur, worked for mentor, managed properties, invested in Airbnb, expanded remotely, invested in Fresno, built ADUs. 00:03:42 Splitting properties for profit; renting to travelers. 00:08:01 Paid mentorship may not be effective. Instead, offer help and observe how you can assist. Utilize your existing skills to support others. Be of service and pursue your own goals. 00:10:29 Real estate and business owners must try new things, embrace failure, and find balance. 00:16:00 Streamline guest communication and automate property management. 00:21:28 Learning, wholesaling ventures, partnerships, project management, cold calling issues. 00:25:53 Potential move to hotel investing, negotiating with sellers. 00:30:06 Airbnb dominates traffic, collect guest email. 00:32:04 Properties mainly for traveling workers, not vacationers. Costs and issues with pools. Pensacola property makes sense with shared pool. 00:38:04 Find rundown house, ask if they'll sell. 00:38:57 Practice makes perfect; don't be discouraged. Look for REI Mastermind Network and subscribe through iTunes or your favorite podcast app! If you like what you hear please give us a rating, like, and share. It really helps the show grow. SUBSCRIBE to the PODCAST! • RSS: https://feeds.captivate.fm/reimastermind/ • Website: http://reimastermind.net • Apple Podcasts: http://bit.ly/REIApplePodcasts • Google Podcasts: http://bit.ly/REIGooglePodcasts • Spotify: http://bit.ly/REISpotify • Locals: https://reimastermindnetwork.locals.com/ • YouTube: http://bit.ly/REIYouTube • Facebook: https://www.facebook.com/REIMastermindNet • Twitter: https://twitter.com/rei_mastermind • Instagram: https://www.instagram.com/reimastermindnet SUPPORT THE SHOW! • Get Six Months of RentRedi for $1 https://app.rentredi.com/signUp/JCH191 • Join the Community on Locals! https://reimastermindnetwork.locals.com/ • Get $10 and Reduce Your Business Costs by Shopping at AppSumo: https://bit.ly/reiappsumo • Get $10 Towards Your First Purchase at Drop: https://drop.com/?referer=3DC729 "You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - JD

Abbas Mohammed is a successful real estate investor who made a name for himself in the multifamily sector. His journey began at the age of eighteen when he entered the real estate industry as a residential agent. Though he initially struggled, Abbas soon found his footing and rapidly rose in the ranks. Within just four and a half years, he earned a spot as one of the top 15 agents in the country, working under REMAX and managing a team of 25 virtual assistants. With his residential business flourishing, Abbas faced a new challenge – how to effectively invest the surplus cash generated from his sales. Initially, he considered building a single-family portfolio. However, upon closer examination, he realized that he would have limited control over the value of these homes, which largely depended on external factors such as interest rates and affordability. Sensing potential pitfalls, Abbas decided to explore other investment options. After thoroughly researching various avenues, Abbas stumbled upon the world of multifamily real estate. Intrigued by the numerous advantages it offered, he quickly made the bold decision to skip single-family investments altogether and dive straight into multifamily. His first venture involved a 64-unit property, a leap of faith that would prove to be one of the best decisions he ever made. Since then, Abbas Mohammed has continued his successful journey in multifamily real estate, leveraging his expertise and experience to further expand his portfolio. His story serves as an inspiration to aspiring investors, showcasing the rewards that come from strategic decision-making, calculated risk-taking, and an unwavering pursuit of success in the real estate industry. Connect with Abbas Mohammed: https://modelequity.com/invest-now/ Key Topics & Bullets: Challenges in Raising Money for Real Estate Deals - Difficulty encountered by raising money for real estate deals - Concerns about using other people's money and the associated risks - Positive outcome of a deal with a 29% increase in NOI Building Relationships with Brokers in Multifamily Real Estate - Strategy of targeting newer brokers on teams rather than top brokers - Being omnipresent, active on social media, and diligent in the deal process to establish trust - Following through on promises and avoiding unnecessary changes or renegotiations Scaling and Growing the Business through Hiring - Significant growth of the team - Tripling business income in 2020 and again in the following year - Realization that delegation and hiring people with different skills are essential for growth Advantages of Investing in Multifamily Properties over Single-Family Homes - Difficulty in buying single-family homes due to tenant and maintenance issues - Trend of people selling single-family portfolios to invest in multifamily properties - Advice to think bigger and ramp up production in real estate investing Timing and Market Considerations in Multifamily Investing - Acquisition of first multifamily deal in late July 2021 and subsequent $30 million deal in December 2021 - Belief that 2023 will be a good year for investing due to decreased asset prices and less competition - Mistake of wasting 6 months looking for deals during unfavourable market conditions Choosing the Right Market and Building Relationships - Focus on choosing the right market over the right property in multifamily investing - Sourcing off-market deals and gaining an advantage over other buyers through broker relationships - Consideration of factors like population growth, job growth, income levels, and landlord-friendly laws when choosing a market Building a Scalable Business through Systemization and Delegation - Implementation of cold calling to generate leads, aided by a virtual assistant - Expanding the team with a hiring manager, training manager, salespeople, and an agent - Transition to a nearly 100% passive business through delegation and hiring SUBSCRIBE to the PODCAST! • reimastermind.net • Apple: http://bit.ly/REIApplePodcasts • Google: http://bit.ly/REIGooglePodcasts • Spotify: http://bit.ly/REISpotify • Facebook: https://www.facebook.com/REIMastermindNet • Twitter: https://twitter.com/rei_mastermind "You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - JD TIMESTAMPS 00:00:00 reimastermind.net 00:02:38 Choosing market, building relationships, sourcing deals. 00:06:11 Build relationships by being trustworthy, diligent, communicative. 00:10:45 Ebook adds value, successful in getting investors. 00:12:48 Single family harder, multifamily recommended; tax benefits. 00:18:49 Vet sponsors, ask tough questions for deals. 00:23:01 Delegate and hire to grow your business. 00:25:59 Scaling business through strategic hiring and delegation. 00:29:34 Outsourcing led to success; now hiring locally. 00:35:23 High-level earners focus on their strengths. 00:36:28 Think bigger, find bottlenecks, increase volume.

Jorge Contreras is a successful entrepreneur who has invested heavily in coaches and mentors throughout his career. During a transformative 5-day training with Tony Robbins focused on business mastery, Jorge learned the invaluable lesson that building a business means building the people within it. He embraced the philosophy of working on the business rather than in it, which has led to his significant success. Now, Jorge efficiently trades his time for money, ensuring that he focuses solely on the 5 percent of activities that generate 95 percent of the results. This strategic approach has allowed him to command a higher hourly rate for his services as a business owner. Jorge's expertise lies in the Airbnb industry, a business that demands intensive operations. With 4 to 8 cleanings a month, he understands the importance of streamlining processes and maximizing efficiency in order to achieve optimal results. Through his dedication and commitment to his ventures, Jorge Contreras has become a standout figure in the entrepreneurial world. Full Episode @reimastermind

Jorge Contreras is a firm believer in taking action and making the most out of mentorship opportunities. He understands that many people may invest in mentorship but fail to take action, and he attributes this to the law of averages. Drawing upon the analogy of a high school graduating class, where only 60% to 70% of freshmen eventually graduate as seniors, Jorge acknowledges the existence of those who do not follow through. However, as an individual who possesses a determined mindset and unwavering self-belief, Jorge ensures that he extracts value from every mentorship he engages in. He compares his approach to working out with a trainer, emphasizing that it is his own responsibility to get in shape, not the trainer's. Full Episode @reimastermind

Jorge Contreras is an experienced professional in the field of sourcing and hiring. He has extensive knowledge in utilizing social media platforms such as Thumbtack to find individuals for various tasks. He advises against hiring large cleaning companies due to their higher fees and inconsistency in personnel. Jorge recommends hiring someone in-house on a per cleaning basis, ensuring that the same person will be attending to the property each time, thus maintaining consistency and reducing costs. Additionally, Jorge emphasizes the importance of a 45-day probation period when hiring individuals to ensure the right fit for the job. Full Episode at @reimastermind

Jorge Contreras, an experienced real estate investor and entrepreneur, has weathered the storms of the short-term rental market. A year ago, he believed that launching an Airbnb in any location would yield success. However, the current recession has proven otherwise. Jorge presently owns a property in Joshua, California that is struggling to generate profit. Secondary markets are also facing challenges, with minimal cash flow. Only properties in primary markets are thriving amidst the changing dynamics of the industry. Jorge finds humor in reflecting on how the game has evolved, realizing the importance of being selective with property types and locations when venturing into the short-term rental business. With his expertise and adaptability, Jorge continues to navigate the ever-changing real estate landscape. Full Episode @reimastermind

Jorge Contreras is an expert in utilizing communication platforms like Slack for efficient workplace coordination. With extensive experience in managing multiple properties, Jorge has mastered the art of organizing channels for each property, ensuring that all relevant stakeholders, including cleaners, maintenance workers, virtual assistants, property managers, and business partners/spouses, are connected. His expertise in streamlining communication processes has significantly improved overall operations and collaboration within each property. Full Episode @reimastermind

Jorge Contreras, an experienced real estate investor and entrepreneur, has weathered the storms of the short-term rental market. A year ago, he believed that launching an Airbnb in any location would yield success. However, the current recession has proven otherwise. Jorge presently owns a property in Joshua, California that is struggling to generate profit. Secondary markets are also facing challenges, with minimal cash flow. Only properties in primary markets are thriving amidst the changing dynamics of the industry. Jorge finds humor in reflecting on how the game has evolved, realizing the importance of being selective with property types and locations when venturing into the short-term rental business. With his expertise and adaptability, Jorge continues to navigate the ever-changing real estate landscape. Full Episode @reimastermind

Joe DeSanto is a fractional CFO who specializes in providing part-time CFO services to businesses. He has a background in owning larger businesses in the production and post-production space in Los Angeles. Joe and his wife decided to make a change in their lives after having a child, and they moved to Florida. With their savings from real estate investing and other market investments, Joe was able to work part-time and supplement their passive income. His financial independence and early retirement mindset led him to consider himself semi-retired. However, his expertise in finance and managing businesses led to his former partners asking him to continue handling their finances as a consultant. This led to other business owners reaching out to Joe, realizing the need for a part-time CFO who could provide the same level of expertise at a more affordable cost. Joe enjoys working with his clients and helping them understand the importance of running their personal finances like a business. He started a blog to communicate his knowledge to individuals who may not be able to afford a CFO but still want guidance in managing their finances. Through his blog, Joe offers free information and courses, as well as one-on-one coaching sessions. His goal is to help individuals gain good planning skills for their own future at a reasonable cost. Overall, Joe's focus is on helping businesses and individuals achieve financial success and improve their overall financial well-being. Connect with Joe DiSanto: https://www.playlouder.com/ TIMESTAMPS: 00:00:00 reimastermind.net 00:00:42 Part-time CFO helps businesses manage finances 00:07:07 Limited time, little planning; real estate investment 00:10:01 Real estate growth versus stock market options 00:13:35 Entrepreneur does own accounting; bookkeeping for decisions 00:16:33 Real estate investments, managing projects and diversifying 00:22:16 Track personal finance, understand investing and real estate 00:24:38 Helping people improve financial situations, giving advice 00:29:24 Leverage pumps returns. Don't drain your leverage 00:31:59 Avoided risky real estate investment, learned lesson 00:35:33 Data-driven decision making is crucial for success Key Topics and Bullets: Real Estate Investment and Risk - Almost making a real estate investment in Nashville for short-term rentals - Property was subject to a lawsuit due to owner renting without a license - Canceling the contract and getting money back - Lesson learned: Avoid risky or uncertain ventures - Importance of compound annual growth in real estate investments Taking Control of Financial Planning - Taking control instead of relying solely on the financial industry - Personal investment strategy: diversifying portfolio between real estate, syndications, cryptocurrency, and stock market - Adjusting asset allocation based on market conditions and personal circumstances - Exploring other investment products like life insurance - Creating a new asset allocation plan - Importance of educating clients about different investment options and savings Financial Support and Advising - The speaker's role as a financial therapist - Assisting with money management and avoiding mistakes - Helping businesses with employee management - Assisting clients with organization and identifying areas of improvement - Advising clients to raise their prices, resulting in positive outcomes - Acting as a fractional CFO Financial Services for Businesses - Speaker's background in owning businesses in production and post-production space - Transition to offering financial services as a consultant and part-time CFO - Passion for finance and running personal finances like a business - Offering coaching and courses on financial planning - Mission to help individuals manage their personal finances like a business and achieve financial independence Analyzing Real Estate Investments - Importance of analyzing the financials of real estate investments - Factors to consider: cash flow, appreciation, CapEx, and tax implications - The current market is not favorable - The significance of time and tax efficiency in real estate holdings - Depreciation's impact on other income, requiring careful analysis Getting Help with Personal and Business Financial Goals - Neglecting planning in personal and business finances due to time constraints - Seeking help for both personal and business financial goals - Determining long-term goals, such as retirement destinations and desired lifestyles - Real estate as an investment option compared to the stock market CFO Perspectives and Experience - Traditional CFOs and their background in accounting and certification - Importance of a CFO candidate with business ownership experience - Speaker's experience as a business owner and guidance on broader business owner tasks - Importance of bookkeeping, emergency planning, and managing credit and financing

Welcome back to the REI Mastermind Network! In today's episode, we have a special guest with us, Ace Hagerty. Ace is joining us from Nashville, Tennessee, a city he loves and considers to be booming. As an experienced engineer and contractor with 15 years of experience, Ace recently purchased some land and delved into the world of real estate development. However, after finding the contractors in Nashville to be expensive with subpar workmanship, Ace decided to take matters into his own hands. With a background in engineering, he figured he could do it better himself. And so, amidst the COVID-19 pandemic, Ace embarked on a journey to become a ground-up developer, building single-family residential homes and multi-family townhouses. While he admits the road hasn't been easy and he has encountered failures along the way, Ace believes these experiences have shaped him into a better investor, manager, and person. Join us as we delve into Ace's inspiring story and discover the lessons he has learned on his path to financial freedom. Check out the podcast at REIMastermind.net Key Topics and Bullets: Background and Experience - Introduction to being in Nashville, Tennessee - Experience in engineering and construction for 15 years - Purchasing land and observing the construction industry in Nashville Decision to Start Building Himself - Contractors being expensive and workmanship not meeting standards - Contractor's comment about being able to build better himself - Realization of potential financial gain by doing development work himself - Influence of COVID-19 in starting his development journey Journey as a Developer - Transition into being a ground-up developer - Types of properties being built (single-family residential homes, multifamily townhouses, etc.) - Comparison to Robert Kiyosaki's path to financial freedom - Acknowledgment that it was a long road, but potential for faster success in today's age Lessons Learned and Growth - Acquisition of knowledge and understanding different parts of real estate investing - Making mistakes and experiencing failures - Improved skills as an investor, manager, and person - Acknowledgment that the journey is not recommended for everyone due to its difficulty but has made him better

Welcome back to another episode of the REI Mastermind Network! I'm your host, Jack Hoss, and today we have a fantastic guest joining us - the incredible Ace Hagerty. This episode is filled with wisdom and insights about the power of finding the right people for your real estate team. Ace shares their journey of building a successful real estate business, emphasizing the importance of having the right individuals in the right roles. From an amazing assistant who keeps their life organized to skilled project managers who ensure everything runs smoothly, Ace knows the value of a strong team. We dive deep into Ace's experiences in flipping houses, turnkey rentals, and ground-up developments. They share inspiring stories of turning run-down properties into beautiful units, increasing cash flow, and achieving substantial profits. But it's not all smooth sailing - Ace also reveals the mistakes they've made and the lessons they've learned along the way. Plus, Ace opens up about their personal transformation during a 100-day challenge, which led to the creation of an empowering book. We'll discuss the importance of maximizing our skills, setting clear goals, and focusing on specific niches. And let's not forget, Ace is also committed to making a difference in the world by supporting a nonprofit organization, Operation Rescue Children. Get ready for a jam-packed episode filled with real estate insights, personal growth inspiration, and valuable advice on building the right team. So, grab your notepad, sit back, and let's dive right into today's episode with the incredible Ace Hagerty! Connect with Ace Hagerty: SuperHeroByDesign.com TIMESTAMPS: 00:00:00 reimastermind.net 00:02:30 Flipped properties, tried different rental strategies, became developer 00:10:23 Real estate investing requires focus and patience 00:13:44 Business owner spread too thin, poor time management 00:19:01 Crazy interest rates, slow housing market 00:21:17 Held strong, got results despite difficult times 00:27:29 Writing book, 100-day challenge, becoming superhero 00:34:09 Book sales support Operation Rescue Children against sex trafficking 00:38:26 Leveraging other's money accelerates real estate growth 00:41:33 Failed Nashville house flip, mistakes and backlash 00:44:34 Bet on yourself, you are a winner Key Topics and Bullets: Importance of Finding the Right People for Your Team - Role of an amazing assistant in organizing life and handling bookkeeping - Importance of having the right people in the right positions - Negative impact of a project manager who wasn't a good fit Book Recommendation - "Who Not How" - The book emphasizes the importance of finding the right people for success Real Estate Investing Journey - Success and profit from a quick rehab on a property - Exploration of different real estate strategies - Turning a run-down property into beautiful units for increased cash flow - Transition to a turnkey rental business and ground-up development Learning from Failures and Mistakes - Mistakes made when flipping houses in Nashville - Loss of significant money on a flip due to wrong contractor and lack of oversight - Realization of the importance of sticking to prices and effective communication Overcoming Challenges in Real Estate Investments - Challenges posed by COVID-19 - Current success despite difficult times - Smart pricing strategies in the face of a high-interest loan market - Comparison with a nearby developer who had to drop prices and lose money Focus and Setting Clear Goals - Importance of focus in achieving financial freedom - Determining a niche and type of real estate investing - Need for creativity and standing out from the mainstream - Achieving goals faster through specific targeting Real Estate Investing Journey - Finding Strengths and Partnering - Finding strengths in construction and fixing issues in the field - Need to find people who are proficient in sales and marketing - Development partner focused on finding deals and selling - Speaker focuses on their strengths and responsibilities Making a Meaningful Change and Giving Back - Support of Operation Rescue Children, a nonprofit organization combatting illegal sex trafficking - Efforts to rescue slaves, provide help, and assist in reintegration - Desire to make a change and give back to society through book sales Current Real Estate Market Conditions - High-interest rates causing a slowdown in the housing market - Panic-driven price drops and fire sales - Holding firm on prices and betting on the quality of the product - Successful sales and contracts for full asking price Personal Growth and Empowerment - Writing a book as a personal growth journey, not just for publication - Love for comic books and belief in everyone's inner superhero - Experiences during a 100-day challenge, including extreme activities - Lifestyle changes and realization of the power of the nervous system - Book providing personal tools and principles for transformation

Jordan Berry is a former pastor who made a bold decision to step away from his vocation after 15 years to seek a different path. Unsure of what to do next, Jordan and his family had the idea to rent out their house in Southern California and use the money to buy a condo in Hawaii. However, Jordan's wife had a different proposition – buying a laundromat instead. Intrigued by the concept of generating income that wasn't tied to their time, Jordan and his wife took the plunge and became laundromat owners. Although not entirely passive, the business offered a level of flexibility and potential returns that intrigued them. This unexpected leap into the laundromat business would mark a significant turning point in Jordan's professional journey. Connect with Jordan Berry: https://www.laundromatresource.com/ Key Topics and Bullets: • Financing options for laundromats - Manufacturers and independent lenders offer financing options - Equipment financing may offer 100% financing with down payment requirements - Traditional financing for real estate requires higher down payments - SBA options available, but qualifying can be challenging - Seller financing is common due to difficulty in securing traditional financing - Limited or inaccurate financial records can affect securing financing • Different business models for laundromats - Self-serve, service-side, and pickup and delivery models - Pickup and delivery services gaining popularity during COVID - Location important for self-serve laundromats - Self-serve targets renters with below median income - Service-side caters to customers with above median income • Debate on replacing machines in the industry - Some see keeping old machines as a badge of honor - Others believe in replacing for efficiency and customer satisfaction - Speaker suggests replacing around the 15-year mark - Benefits of replacing include decreased repair costs, lower utility costs, and increased efficiency - Shiny new machines attract more customers and allow for higher prices • Rehabbing and marketing a rundown laundromat - Speaker chose not to sell but invested in new machines and rehabbed space - Rehabbing reputation proved more challenging than renovating the physical space - Marketing strategies used include flyers, Google ads, and Facebook ads - Suggestion of organizing a wow event or grand opening to draw attention • Importance of location, lease, and deal analysis - Location crucial and difficult to move once established - Good lease necessary to avoid business failure - Analyzing the deal and knowing what you're buying is key • Tracking income and expenses in cash-based business - Laundromats mainly cash-based, making tracking challenging - Knowledge of tips and tricks necessary for accurate assessment • LA's competitive laundromat market - Laundromat industry historically lacked advertising - More owners realizing the importance of customer care and promotion - Negative industry image due to frequent breakdowns and poor experiences • Focusing on customer satisfaction and profitability - Convenience crucial for customers, but potential for expansion in competitive areas - Opportunities for profitability by filling gaps and providing better experiences - Basics of cleanliness, working machines, friendly attendants, and full coin changers important - Loyalty incentives, promotions, and positive atmosphere enhance the experience • The misconception of laundromats as passive businesses - Disagreement with belief that laundromats require little effort from the owner - Acknowledgment of high returns and cash flow with relatively less work - Dealing with customers and maintaining machines can be demanding - Proper management can make the business more passive as it scales TIMESTAMPS 00:00:00 reimastermind.net 00:02:31 Misguided broker led to financial losses. 00:06:33 Laundromat options: self-serve or service-based with pickup/delivery. Consider demographics for location choice. 00:10:09 Rehabbing laundromat harder than expected, lacked promotion. 00:13:23 Laundromat industry evolving, opportunities for improvement. 00:15:32 Take care of basics: cleanliness, friendly staff, working machines. Ensure coin changers are full. Make customers comfortable and happy. Offer loyalty incentives and create a positive atmosphere. 00:21:18 Replacing machines at around the 15-year mark can benefit businesses. 00:25:54 Replacement options vary, balancing costs and impact. 00:27:35 Laundromats: Limited financing options, seller financing common. 00:31:03 Round numbers, contingencies, verify income and expenses. 00:37:18 Riskier investment; consider stable, better-performing option. 00:38:56 Laundromats are not as passive as thought 00:41:46 Great conversation, check out laundromatresource.com for expertise.

CJ Calio is a versatile real estate professional with expertise in various types of properties. From strip malls to medical offices, government buildings to mixed-use spaces, CJ has experience and a deep understanding of the commercial real estate market. With a strong affinity for numbers and calculations, CJ appreciates the straightforward nature of commercial investments, where success can be determined through careful analysis and calculations. CJ prioritizes the performance and profitability of a property over its aesthetic appeal, focusing on identifying assets with the potential for strong returns. Unlike residential real estate, where emotions and visuals often play a significant role, CJ's approach to commercial properties is driven by data and financial considerations. Connect with CJ Calio: https://www.instagram.com/wnnproperties/ Key Topics and Bullets: - CJ Calio's experience in commercial real estate - Different types of commercial properties owned by CJ Calio (strip malls, office spaces, medical buildings, government building, mixed-use space) - The importance of numbers and calculations in commercial real estate - The focus on performance rather than aesthetics in commercial properties - Contrasting residential real estate with commercial real estate in terms of investment approach - Mental hurdles and mindset changes when transitioning from residential to commercial real estate - Differences in leases between residential and commercial properties - The need for a diverse and specialized team in commercial real estate (acquisition agent, property manager, leasing agent) - Importance of working with experts in specific areas of commercial real estate rather than someone who can do a little bit of everything - Building new networks and teams to succeed in commercial real estate.

CJ Calio is a successful real estate investor known for his expertise in the buy and hold strategy. His journey began with a focus on cash flow and finding a reliable stream of income to replace his wife's employment. Calio and his wife found a system that worked well for them and continuously enhanced it. They became experts in the buy and hold strategy, but later expanded their horizons to include the BER strategy (buy rehab rent, refinance, and repeat). Implementing this strategy, Calio scaled his portfolio in both single-family and small multifamily properties. As their portfolio grew, Calio noticed that his wife was becoming overwhelmed. However, their expertise and confidence led them to explore new opportunities in the real estate market. Leveraging their experience in the residential space, they ventured into commercial real estate investing. Calio and his wife successfully scaled their business in commercial properties such as retail, strip malls, office spaces, and medical spaces. Although the scale was larger, they continued to implement their tried and tested strategy for success. Connect with CJ Calio: https://www.instagram.com/wnnproperties/ Key Topics and Bullets: • CJ's initial strategy: cash flow and buy and hold - Looking for a stream of income to replace CJ's w2 income - Following a system and enhancing it over time • Adoption of the BER strategy (buy rehab rent, refinance, repeat) - Scaling the portfolio with single-family and small multifamily properties • Overwhelm and expansion of the team - Transitioning from single-family properties to commercial real estate - Investing in retail, strip mall, office, and medical spaces • Adjusting the portfolio to alleviate property management headaches - Trading in single-family properties for larger, more stable commercial assets • Longer lease terms and stability in the commercial sector - Projecting leases for 5, 7, 10, 15 years • Alleviating pressure and overwhelm through portfolio expansion into commercial real estate.

CJ Calio faced initial skepticism and opposition from family members when he decided to leave his secure union job at UPS to pursue a different path. However, he knew that staying in that role would limit his capabilities, so he persisted in his new venture. Despite facing potential disapproval and even the threat of being disowned, CJ stayed true to his vision and made progress towards his goals. After three years, those same family members who doubted him witnessed the positive results he had achieved and sought his assistance in achieving their own financial independence. Now, CJ's family members have become his biggest supporters, understanding the value of his work and the potential it holds for their futures. CJ is grateful for their trust and grateful that he was able to help them on their journey to financial freedom. Connect with CJ Calio: https://www.instagram.com/wnnproperties/ Key Topics and Bullets: Friends and family's initial reaction to real estate investing: - Initial skepticism and belief that it's a scam - Questioning the decision to give up a stable job with good benefits and retirement Challenges faced with close family members: - Almost being disowned for pursuing real estate - Overcoming their doubts and proving the success of real estate investing Positive outcomes with family members: - Assisting them in achieving financial independence and early retirement - Becoming the biggest supporters of real estate investing after seeing its benefits Expanding the network: - Encouraging other family members to join the real estate investing journey - Presenting real estate investing as an alternative and option for a better financial future Getting comfortable with the uncomfortable: - Embracing discomfort as a catalyst for personal growth - Pushing boundaries and expanding opportunities by stepping out of the comfort zone Promotion and support: - Sharing CJ's Instagram page for more information and connection - Encouraging listeners to share the episode with friends who might find value in it.

CJ Calio, born with a small mindset but a desire to excel, initially found solace in car detailing, a skill he learned from his father. However, as he explored this path, he realized that there was more to it than just washing cars. Undeterred by this setback, he turned his attention to yard work and landscaping, drawing inspiration from his agricultural background. Unfortunately, this venture also proved unsuccessful. Determined to persevere, CJ then ventured into sales, specializing in car accessories. Initially, everything seemed promising, but he encountered a major hurdle when he realized that cheaper products from China undermined his business. Despite facing consecutive failures, CJ's spirit remained unbroken as he realized that there was more to his story than these setbacks. Connect with CJ Calio: https://www.instagram.com/wnnproperties/ Key Topics and Bullets • Introduction to CJ Calio's startup experiences - Car detailing - Yard work, landscaping - Sales around car accessories • Apprehension towards real estate - Lack of personal idea - Resentment towards wife's idea - Strain on relationship - Shifting mindset • Collaboration as a team - Unique roles and strengths - CJ's front-end acquisitions and networking - Wife's role in stabilization and analysis - Division of responsibilities • Wife's quick interest in real estate - Early exposure to real estate investing - Interest in real estate prior to marriage - Self-education through reading and podcasts - Preparedness and readiness for real estate ventures

CJ Calio's story begins with him working as a well-paid, labor-intensive UPS driver. However, a particularly busy Christmas season where he couldn't see his family for months made him realize that he couldn't continue doing this job for the rest of his life. After discussing his frustration with his wife, she suggested looking into real estate as a potential income replacement. Although initially hesitant due to his lack of knowledge and pride, CJ eventually came around and supported his wife's idea. Together, they started attending networking events and learning about real estate strategies. CJ initially felt out of place and afraid to engage with others, but as he immersed himself in the industry, he realized that it was a legitimate opportunity for financial success. They took a leap of faith and purchased a property, eventually realizing that it was generating income. This success propelled CJ into becoming a leader in the real estate industry. He and his wife rapidly grew their portfolio, enabling them both to leave their previous jobs. As word spread about their achievements, CJ found himself mentoring others who were interested in achieving financial independence through real estate. After five years of mentoring, CJ and his wife have helped numerous individuals overcome their fears and start building their own portfolios of passive income. They are thrilled to be a part of this journey and continue to empower others to achieve financial success in real estate. Connect with CJ Calio: https://www.instagram.com/wnnproperties/ Key Topics and Bullets - Leveraging social media and joining REI meetup groups and mastermind groups - Building a list of team members including agents, lenders, property management, and loan officers - Presenting oneself seriously and being genuine on social media - Establishing credibility by getting on the phone with people quickly and introducing oneself as a real investor - Organic growth of team building efforts and being authentic about current status and goals - Focusing on cash flow and buy and hold strategy from the beginning - Seeking a stream of income that can replace job income - Success with the buy rehab rent, refinance, and repeat (BRRR) strategy - Scaling portfolio in single-family and small multifamily properties - Spouse becoming overwhelmed as portfolio grew - Applying expertise in other areas and gaining confidence from experience - Expanding into commercial real estate investing, specifically in retail, strip malls, office space, and medical space - Applying same strategy but on a larger scale in commercial properties - Discussing different types of commercial properties owned, including an office, a medical facility, a government building, and a mixed-use space - Contrasting commercial properties with residential properties in terms of evaluation and return on investment - Overcoming initial perception of being a salesman and emphasizing benefits for others - Belief that they needed to work long hours to deserve income, but shifting mindset to prioritize productivity - Mentoring from someone with experience helping change mindset and focus on productivity - Having more time to spend with family after shift in mindset - Finding dealing with businesses and commercial entities intimidating, particularly technical aspects such as leases - Need for legal assistance due to lack of standardization in commercial leases - Importance of team consisting of acquisition agents, property managers, contractors, lenders, and potentially other licensed agents - Initial skepticism and disbelief from family about venturing into real estate - Family's confusion about leaving stable job at UPS and pursuing something different - Threats of disownment from close family members - Eventually convincing family members through persistence and success - Attempts at other business ventures such as car detailing, yard work, landscaping, and selling car accessories - Preference for authenticity and sharing where they are at rather than hiding true feelings - Importance of following through on word, even if deals are not always the best - Open conversations about what works and helping others be successful - Frustration and unhappiness with labor-intensive job as a UPS driver - Trying other business ventures and eventually coming back to real estate TIMESTAMPS 00:00:00 reimastermind.net 00:00:55 UPS driver discovers real estate, achieves financial independence 00:06:06 Car detailing, yard work, sales - all failed 00:10:12 Initially thought crazy, but proved them wrong 00:13:03 Cash flow strategy scaled from residential to commercial 00:18:19 Leveraging social media, building teams organically 00:21:26 Trading time for money, working long hours 00:23:21 Always seeking growth and improvement in all areas 00:28:04 Get into real estate, expand your knowledge 00:31:41 Start with inner circle. Trust honest feedback 00:33:01 Positive feedback from networking events, useful collaboration

Welcome to the REI Mastermind Network, where we delve into the world of real estate investing and learn from the experts. In this episode, host Jack Hoss is joined by special guest Whitney Hill, who brings a unique perspective to the table. As someone with a background in business consulting and operations, Whitney dives into the importance of processes and project software in the real estate industry. They discuss how many investors get distracted by shiny new trends and fail to focus on the fundamental aspects of building a successful business. Whitney shares her journey of discovering the power of niche specialization, specifically in the realm of Accessory Dwelling Units (ADUs) in North County, San Diego. They explore the benefits of having a laser-focused approach, from establishing a recognizable brand to ranking higher in search results. Tune in to gain valuable insights on the significance of niching down and finding your business purpose in real estate investing. TIMESTAMPS 00:00:00 reimastermind.net 00:02:20 Focused on ADUs, specializing in San Diego. 00:04:48 Narrowing niche in specific construction, location important. Key Topics and Bullets: - Importance of emphasizing operations processes in real estate investing - Distractions caused by shiny new technologies or asset classes - The misconception that success requires innovation and new concepts - The value of executing basic processes consistently - Building a repeatable process that can be outsourced - The power of focus and niche specialization in real estate investing - The success achieved by specializing in ADUs in North County, San Diego - The benefits of focusing exclusively on detached ADU construction - The ability to save time and increase reliability by focusing on a specific project type - The advantages of concentrated content and improved SEO rankings - The benefits of creating name brand recognition in the market - The joy of missing out (JOMO) on complex or irrelevant projects - Overcoming the initial fear of turning away work - The relief and focus that comes from having a clear niche - The importance of niching in both construction type and location in real estate investing - The example of wholesaling as a shotgun approach versus niche specialization.

Welcome back to another episode of the REI Mastermind Network! In today's milestone 500th episode, our host Jack Hoss is joined by the talented Whitney Hill, as they dive deep into the world of ADUs (Accessory Dwelling Units) and the secrets to building a successful business in the real estate industry. Whitney and Mike, the founders of a renowned ADU construction company in San Diego, share their fascinating journey from different career backgrounds to specializing exclusively in detached ADU construction. They discuss how their focus on specialization propelled their brand recognition, ranking in SEO search results, and revenue growth. Our guests also shed light on the importance of careful software decision-making, sharing their experience evaluating tools like HubSpot and Pipedrive. As their company grew, they recognized the need to define roles and empower their team members to make independent decisions, contributing to increased efficiency and productivity. Moreover, Whitney and Mike reveal their secrets to building larger ADUs, achieving higher revenue with the same team, and streamlining operations through vertical integration. They discuss the crucial tools that have revolutionized their work environment, including Zoom, Builder Trend, and Asana. Tune in to this episode for invaluable insights into ADU construction, strategic growth, and the power of consistency in building a sustainable business. Don't miss out on the milestone 500th episode of REI Mastermind Network! Connect with Whitney Hill: https://snapadu.com/ Topics: - Introduction to the speaker and their career background - Starting in different fields and specializing in ADUs in North County, San Diego - The importance of focusing on detached ADUs for efficiency and repeatability - Building a website and brand around ADU construction in San Diego - The benefits of specializing exclusively in ADUs for SEO and brand recognition - The fear and joy of missing out (Jomo) when turning away complex or unrelated jobs - The importance of carefully considering software decisions - Software decisions as one-way gates for at least a couple of years - The speaker's role in thinking about techniques, software evolution, and supporting growth - Evaluating HubSpot and Pipedrive as potential software options - Rapid growth in terms of the number and size of ADUs built - Specializing in larger ADUs to increase average contract size - Achieving higher revenue with improved efficiency and reduced overhead - Current workload of building around 4 ADUs per month - The benefits of specialization and continuous learning in becoming more efficient - Becoming more vertically integrated by taking design and permitting in-house - Increased control and consistency in work through these changes - Importance of role definition in a startup environment and empowering employees to make decisions - Working on providing clarity for everyone's roles and responsibilities - Plans to create role descriptions and organizational charts in 2023 - Importance of clear hierarchy and decision-making process for employee empowerment - Speaker's experience in house flips and utilizing Builder Trend project management system - Introduction to ADUs and California regulations - Speaker's company specializing exclusively in standalone ADUs - Company growth and hiring sales, marketing, and pre-construction teams - Adoption of assembly line approach and segmenting construction tasks - Benefits of thinking differently and implementing a series approach to increase efficiency - Onboarding new hires to fit into the evolved system - Three indispensable tools for their work environment: Zoom, builder trend, and Asana - The value of focusing on the basics and consistency for success - Overcoming initial hesitation and starting the ADU business during the pandemic - Utilizing remote site assessments and technology for streamlined operations - Decision to stay fully remote and leverage technology for operations

Nathan Payne is a real estate investor who has always been resilient in the face of rejection. Having spent six years in door-to-door sales before transitioning into real estate wholesaling, Nathan developed a thick skin and learned not to take "no" personally. During his time as a missionary for his church, he also encountered numerous rejections and became even more prepared for the challenges of the real estate industry. Nathan understands that in wholesaling, where offers below market value are made, hearing "no" from potential clients is inevitable. However, he embraced this aspect and remained unfazed. Although his experience in door-to-door sales provided valuable communication skills, he discovered that some of his tactics did not effectively translate into the real estate field. In the sales world, Nathan had to close deals immediately to earn his commission, but real estate transactions require a longer process. Recognizing the need to enhance his sales skills, Nathan worked diligently to improve. Today, he boasts an impressive repertoire of sales strategies, thanks to his constant learning and adaptation within the real estate investing realm. Nathan Payne is a determined and experienced professional in the world of real estate, ready to face any challenge and make successful investments. Connect with Nathan Payne: https://investorthrive.com/ TIMESTAMPS 00:00:00 reimastermind.net 00:01:49 Sales skills carried over into real estate investing. 00:06:08 Finding highly skilled VAs for higher pay. 00:07:35 Love my VAs, they're awesome employees. Nationwide to one market, finding deals. Help people find buyers all over. 00:10:51 Begin with finding 10-15 solid buyers. 00:14:46 Summarized: "Process of finding buyer criteria and using Google form to keep track of leads." 00:17:38 Student finds property for sale, negotiates price. 00:21:07 Contract, question, teaching, convincing, mentoring, options. 00:25:57 Bought house with squatter, had eviction hassle. 00:30:15 Put yourself out there, ask for help. 00:32:43 We did well, anyone can take action. TOPICS: - Importance of understanding the buyer's process in real estate deals - Focusing solely on sellers can result in wasted money - Personal experience investing in mailers in Utah - Spent $10,000 to $15,000 - Received 20 calls but didn't close a deal - Reliance on virtual assistants (VAs) and sourcing deals on Zillow and MLS - Two VAs finding deals - Networking with agents and occasionally finding deals through for sale by owner situations - Relying on wholesalers in Utah to find buyers - Negotiating their fee in between - Getting leads from sources like HomeLight and other outreach efforts - Encouraging listeners to visit investorthrive.com - Learning the tactic of not taking no for an answer from sales and cold calling experience - Preparing for rejection in real estate wholesaling business - Realizing skills from door-to-door sales don't directly translate to real estate sales - Mind map on website explaining the process of reverse painless wholesaling - Step 4: Finding the buyer's criteria or buy box - Using a script to contact buyers and track criteria using Google Forms and a spreadsheet - Five years of experience in the business, now training others - Shifted approach due to market changes - Trimming down to a few people - Looking for deals on MLS - Making 99% profit themselves - Advising finding buyers first before searching for deals - Finding 10 to 15 solid buyers with cash and no market concerns - Building relationships with buyers to ensure deals are pre-sold - Lesson learned from buying a property with squatter issues - Hiring virtual assistants: initially hiring low-priced VAs, then shifting to higher-priced, more talented VAs - Strategy of making potential clients or sellers feel like they're not the best option, but still an option - Dislike for convincing people and preference for working with those who genuinely want to work with them - Strong relationship with virtual assistants, treating them like employees - Shifted focus to "painless wholesaling" and helping others find buyers in different locations - Negotiating deals and sellers becoming more motivated to accept solid offers

Welcome back to another episode of the REI Mastermind Network! I'm your host, Jack Hoss, and today we have a very special guest joining us: the one and only Cody Lowry, aka the "king of Schmoozing." Get ready for an incredible conversation filled with inspiring stories, valuable insights, and practical tips on building meaningful relationships and achieving business success. In this episode, Cody shares various experiences from their life, including rubbing shoulders with the President, collecting a baseball signed by the Pope, carrying the Olympic torch, and even receiving a Super Bowl ring. But don't be fooled, Cody isn't your typical athlete or celebrity. They're an ordinary individual who believes in the power of personal connections and genuine communication. Cody's book, which has been incredibly successful, redefines the concept of "schmoozing" as a way to authentically connect with others. They emphasize the importance of reaching out to those who are less fortunate and making a positive difference in their lives. Trust us, you don't want to miss out on this fascinating conversation and the insights Cody will share. But before we dive into our interview with Cody, we'll also explore some fascinating stories from the host's own life, including a childhood of moving 32 times in just seven years and valuable lessons learned from selling newspapers. Plus, we'll discuss the pros and cons of 50/50 partnerships in business and the importance of working smart and working hard to achieve success. So, sit back, relax, and get ready to be inspired as we embark on this journey of building relationships, achieving success, and finding joy in the journey. Without further ado, let's jump right into episode 498 of the REI Mastermind Network! Connect with Cody Lowry! https://mrschmooze.com/ Speaker's various experiences: - Meeting the President - Getting a baseball signed by the Pope - Carrying the Olympic torch - Receiving a Super Bowl ring - Auditioning for Saturday Night Live - Running the Marine Corps marathon despite not being an athlete Speaker's successful book: - Redefining "schmooze" as a genuine and meaningful way to connect with others - Emphasizing the importance of personal connections, communication, and building relationships - Importance of reaching out and making a difference in the lives of those less fortunate - Encouraging listeners to download the book for the audio version - Endorsement of the book, comparing it to Dale Carnegie's work - Easy, funny, and inspirational nature of the book, suitable for everyone including those with a limited vocabulary - Keynote speech given to an investment group in Orlando, focusing on building relationships and trust in business - Personal story about winning a multi-million dollar account by building relationships with Toyota dealers - Importance of researching and knowing about potential clients before meeting them, showing genuine interest in their background - Value of transparency, trustworthiness, and never letting clients down - Introduction of Cody Lori, the "king of Schmoozing" - Speaker's childhood experience of going from riches to rags, moving frequently - Lessons learned about hard work, building relationships, and having fun while selling newspapers - Emphasizing kindness and reaching out to others in need - Personal story about resilience and perseverance learned from a customer encounter - Speaker's belief that everyone faces adversity in life, and that failure and success can be temporary - Mistake of entering into a 50/50 partnership in business - Advising people to have a 51% or 49% ownership in a partnership for clear positioning - Discomfort with giving someone else an equal share of profits while bringing in the majority - Discussion on the difficulty of selling newspapers at the end of day 23 - Belief that unless there is a complete collapse, people in business can have a better year - Importance of working hard and working smart for success - Success stories of individuals who attribute their success to both hard work and smart work - Speaker's experiences as a stand-up comedian and pursuing their goals with persistence - Story of auditioning for Saturday Night Live and the pursuit of acting - Value of family and joy derived from grandchildren - Advice to be more serious in life, reflecting on past experiences of not taking things seriously - Regret about not being more serious earlier in academic journey - Emphasis on the importance of likability and familiarity in doing business - Making a good first impression and engaging in small talk for successful business interactions, referencing Elon Musk's views.

Welcome back to the REI Mastermind Network! In today's episode, titled "How to Run Rental Property for Profit and Peace of Mind with Terrie Schauer," we have a special guest joining our host, Jack Hoss. Get ready to gain some valuable insights and strategies from real estate expert Terrie Schauer. Terrie believes that there isn't a one-size-fits-all answer when it comes to real estate, and she has found her niche in property management, specializing in poorly managed properties owned by older landlords. With a focus on the Montreal market, which shares similarities with New York in terms of rent control and protected tenants, Terrie explains how implementing strict rental laws and policies can greatly improve property management and remove problematic tenants. But it's not just about addressing property management. Terrie highlights the importance of cutting expenses, finding value-adds, and setting goals to increase revenue and provide value. She also shares her insights on mental training and the power of mindfulness in the real estate industry and beyond. In addition, Terrie addresses the impact of the pandemic on the industry and how it has affected tenants in low-income areas. She reflects on the government's reaction and believes that the lockdown and support measures have led to addiction and mental health problems, which will have long-term consequences. To maintain professionalism in property management, Terrie shares valuable advice on communication practices, setting boundaries, and using technology to create a seamless experience for both landlords and tenants. So get ready to dive deep into the world of property management, mindfulness, and professional communication with our insightful guest, Terrie Schauer. Let's get started with episode 497processed of the REI Mastermind Network! Connect with Terrie Schauer: mindfullandlord.com Topics: - The speaker specializes in property management - Focusing on poorly managed properties - Market similarities to New York with rent control and protected tenants - Implementing strict rental laws and policies - Improving property management and removing problematic tenants - Benefits to remaining residents and increased property value - Importance of cutting expenses and finding value-adds to increase revenue and provide value - Setting goals and not getting derailed by sad stories or personal challenges - Methodology for mental training - Difference between mindset and thinking mind - Aligning the whole mind and understanding that one is not their thoughts - Dissociating from stress reactions to improve performance - The concept of being a watcher - Importance of meditation and dedicating time to training the mind - Comparing mindfulness to dieting and the importance of understanding how the mind works - Exercise: training the monkey mind - Canada vs. United States ecosystems - Impact of the pandemic on low-income area units - Government's response and consequences of lockdown and support - Importance of professionalism in property management - Putting things in writing and maintaining professional boundaries - Using a call center or phone system for better communication - Timely communication and commitment to returning phone calls within 24 hours - Maintaining separate personal and business phones - Communication funneling and specific email addresses for different requests - Importance of written communication to avoid misunderstandings - Levels of consciousness: thinking mind, emotions, and pure consciousness - Mindfulness as understanding and training the mind - Benefits of mindfulness in financial decisions and mental well-being - Lessons on mindfulness and mental toughness from kickboxing - Transferring mental training skills to real estate business - The struggle to take action in the real estate field despite access to information - Importance of mental training and alignment to achieve goals - Impact of strict mask mandates and lockdowns during COVID - Stability after initial chaos in repairs and payments - Awareness of eviction moratoriums and tenants taking advantage - Communication approach as an agent doing their job - Confidence in their abilities and not taking things personally

Mel Dupree is a successful real estate investor known for their ability to acquire multiple properties without using their own funds. Initially, Mel and their partner faced financial challenges after running out of money while following the traditional method of purchasing properties. However, their perspective changed when they discovered a legitimate and non-scam financing technique. Inspired by a book that transformed their mindset, Mel and their partner decided to fully commit to this new approach. In just one year, they were able to acquire an impressive 12 multifamily properties, totaling 56 apartments. This achievement was accomplished without relying on joint venture partners or their personal funds. Mel's story exemplifies their determination, resourcefulness, and ability to succeed in the real estate industry. Connect with Mel & Dave: https://www.instagram.com/investormeldave/ Key Topics: - Introduction to creative financing - Explanation of creative financing for those unfamiliar with the concept - Overcoming rejections and finding alternative solutions - Personal experience of being told by a bank that growth was not possible, but finding another way to continue buying properties - Importance of knowing who to approach and setting up creative financing deals - Success story of a student who implemented the system - Effective communication with sellers and gauging their openness to creative financing - Marketing efforts and the use of social media to find properties - Importance of networking and asking for referrals within the community - The domino effect of referrals leading to more opportunities - Starting conversations with potential lenders about owner financing - Benefits of owner financing and discussing win-win situations - Nurturing and maintaining relationships with investors who may have multiple properties - Various ways to structure deals, such as promissory notes and holding financing for the future - Encouragement to not be afraid to ask and pursue these opportunities - Educating others on the importance of taking action - Overcoming resistance from potential lenders and explaining the need for an exit strategy - Using a cash flow analysis matrix to show lenders how they will be paid back - Difficulty in finding lending institutions to make up the difference in creative financing deals - Determining the percentage that financial institutions may be willing to hold - Considerations when choosing where to invest, including proximity to the property and cash flow potential - Need for the right team, strategies, and training when investing in properties outside of one's local area - Excitement about summits and the success of a student who secured a deal with owner financing and 0% interest - "Unicorn deals" where owner financing is used instead of a financial institution - Need to look at a large number of deals to find the right opportunity - Working with investor-focused agents and finding off-market deals - Speaker's success in purchasing over 240 units in 5 different countries using these strategies - Explanation of down payment options and the rarity of fully financed deals - The importance of mindset and approach in real estate investing - Training and proper setup for new investors - Understanding that everyone's journey is different and being okay with rejection - Consideration of alternative funding sources if a deal doesn't work out - Variation in the number of properties reviewed before finding a good fit - Importance of cash flow, exit strategy, and equity strategy in each deal TIMESTAMPS 00:00:00 reimastermind.net 00:00:46 Buying properties, ran out of money, worked hard, raised capital, discovered financing, bought 12 properties, 56 apartments. 00:04:10 Educating, strategizing, and showing financial viability works. 00:09:12 Starting out is about mindset and approach. Training is crucial. It's okay to hear "no" and improve. Funding options vary for deals. The number of properties reviewed varies. Exit strategy is important in creative financing. 00:14:28 People can do it, despite initial resistance. 00:15:54 Starting conversations for vetting potential deals. 00:19:27 Marketing efforts: no direct mail, social media. Networking and community involvement are key. 00:24:42 Wrong business structure cost us $100k. Lesson: seek expert advice, outsource when needed. 00:26:18 Stop procrastinating and start taking action.

Welcome to the REI Mastermind Network, where we bring you the latest insights and inspiration from successful real estate investors and entrepreneurs. In today's episode, we have the pleasure of hosting John Schuchman, a seasoned realtor and relationship-focused investor. John's journey in the real estate industry began with a background in sales and relationships, which instilled in him a deep appreciation for the freedom and imagination that comes with being an entrepreneur. Overcoming the challenges of ADHD, John found his true calling in real estate, where he discovered the power of trust and genuine connections. Throughout this episode, John shares valuable lessons learned from his own experiences, including the importance of building strong relationships with clients and tenants, the impact of social media on business growth, and the value of leaving reviews for others. He also reflects on past financial habits, the significance of budgeting, and the benefits of thinking critically before making impulsive decisions. John's openness about his personal struggles and the strategies he has implemented to overcome them is truly inspiring. From his advice to his younger self to pursue entrepreneurial endeavors at a young age to his reflections on the necessity of involving his wife in financial decisions, John's story will resonate with aspiring investors and seasoned professionals alike. So, whether you're looking to enhance your real estate business, improve your investment strategies, or simply find motivation in John's journey, sit back and join us as we explore the wisdom and insights of John Schuchman on this episode of the REI Mastermind Network. Let's dive in! Connect with John Schuchman: https://johnschuchman.com/ TIMESTAMPS 00:00:00 reimastermind.net 00:01:08 Struggled with jobs, paid off debts, entering real estate. 00:05:55 Dave Ramsey's advice on debt and budgeting. 00:11:39 Always excelled in sales and relationships. 00:16:11 Spouse support and partnership in investments. 00:20:12 How to get reviews: ask and make it easy 00:25:42 Real estate business built on organic social media. 00:34:15 Dave Ramsey's books, consumer debt, and building relationships. Biggest mistake: doubting myself, not investing sooner. 00:35:24 Consider leaving w two job at sixteen. Build something in entrepreneurial space. Connect for social media help and advice.

Welcome back to the REI Mastermind Network! In this episode, we have a wealth of knowledge to share with you, courtesy of our incredible guest experts, Melanie Sikma and Byron McBroom. We dive right into the world of real estate finance management, discussing the benefits of using QuickBooks online and the importance of having dedicated financial accounts. Learn how these tools can simplify your financial tracking and make it easier to determine which expenses are deductible. But that's not all - we also explore the fascinating strategy of a deferred sales trust or extended escrow trust. Discover how this approach can help you navigate capital gains tax concerns when buying or selling a property. Our experts break down the process step by step and discuss the potential benefits, particularly for elderly sellers with limited income. And speaking of tax strategies, we delve into the significance of choosing the right entity for your real estate investments. Whether it's an LLC for buying and holding properties or an S corporation for flipping properties - our guests provide valuable insights on how the right entity selection can significantly impact your tax obligations. Learn how to avoid costly mistakes and potentially save up to 15% in taxes! We also tackle a range of other topics, including the importance of documenting and organizing receipts, the significance of core values in business decision-making, and the tax implications of hiring children in your business. Plus, we hear compelling stories about protecting your assets, getting second opinions on taxes, and the incredible opportunities for tax deferral through strategic real estate investments. So grab a cup of coffee and get ready to dive into another exciting episode of the REI Mastermind Network. Stay tuned for expert advice, invaluable tips, and compelling stories that will empower you on your real estate journey. Let's get started! Look for REI Mastermind Network and subscribe through iTunes or your favorite podcast app! If you like what you hear please give us a rating, like, and share. It really helps the show grow. SUBSCRIBE to the PODCAST! • RSS: https://feeds.captivate.fm/reimastermind/ • Website: http://reimastermind.net • Apple Podcasts: http://bit.ly/REIApplePodcasts • Google Podcasts: http://bit.ly/REIGooglePodcasts • Spotify: http://bit.ly/REISpotify • Locals: https://reimastermindnetwork.locals.com/ • YouTube: http://bit.ly/REIYouTube • Facebook: https://www.facebook.com/REIMastermindNet • Twitter: https://twitter.com/rei_mastermind • Instagram: https://www.instagram.com/reimastermindnet SUPPORT THE SHOW! • Get Six Months of RentRedi for $1 https://app.rentredi.com/signUp/JCH191 • Join the Community on Locals! https://reimastermindnetwork.locals.com/ • Get $10 and Reduce Your Business Costs by Shopping at AppSumo: https://bit.ly/reiappsumo • Get $10 Towards Your First Purchase at Drop: https://drop.com/?referer=3DC729 "You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - JD TIMESTAMPS! 00:00:00 reimastermind.net 00:01:23 Busy CPA workers seek efficient tax solutions. 00:04:58 Mom supported through strategic tax structure. 00:07:36 Melanie emphasizes importance of second opinions, property protection. 00:10:27 Create checklist for entrepreneurs' dangers, CPA expertise. 00:15:35 Client defers taxes, invests in real estate. 00:17:47 Deferred sales trust: a way to avoid capital gains tax. 00:22:24 Use QuickBooks online, dedicated bank account, receipts. 00:25:32 Check deductions - be careful with dates. 00:27:34 Pressure, mistake, heart attack, tree accident, insurance 00:30:13 Learn from mistakes, align values for success. 00:33:27 Managing 40 people different from managing 4.