REIMastermindNetwork

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.

On this episode of REI Mastermind Network, host Jack Hoss welcomes guest Derek Dombeck to discuss the pitfalls of using personal homes as leverage in real estate investments. Derek shares his own firsthand experience with negative consequences and dispels the myth of using lines of credit for house flipping or property purchases. He emphasizes the importance of understanding the personality type of the person he's negotiating with, adjusting his communication style accordingly. Derek provides valuable tips on using an elevator pitch, solving the other person's problem, and employing effective negotiation strategies. He also shares insights from his upcoming book on the lending business, co-authored with notable individuals and published by Kyle Wilson. Derek discusses the Generations of Wealth conference, which he and his friends took over and renamed, highlighting its focus on content sharing and networking. He invites listeners to attend the conference in Cancun and expand their network. Derek stresses the significance of building genuine relationships with clients, citing real-life examples of successful deals that required compassionate conversations. He delves into his involvement in short-term regional lending, offering investors a 9% return and prioritizing customer service. Derek also discusses the potential challenges and opportunities in the current market, sharing alternative methods of buying properties without relying on banks. He explains the "subject to" strategy and the risks involved, cautioning about triggering the due on sale clause in most mortgages. Overall, this episode provides invaluable insights and practical advice for navigating the real estate industry and achieving success. Connect with Derek Dombeck at https://bestreifunding.com/ Get Derek Dombeck's free ebook by sending and email to derek@bestfunding.com Topics Covered: 1. Frustration with using personal homes as leverage for real estate investments - Negative consequences of this practice - Myth of taking out lines of credit for house flipping or property purchases 2. Importance of understanding the personality type of the person being talked to in property deals - Adjusting communication style based on personality type - Using elevator pitch to set expectations and overcome objections 3. Negotiation strategies and the importance of helping others solve their problems - Asking questions, listening attentively, and avoiding cutting people off - Creative deal structuring and negotiating skills 4. The speaker's book about the lending business and potential titles - Background as a construction worker and involvement in flipping houses and rental properties - Co-ownership of successful lending company 5. Co-authoring a second book with other notable individuals and its publisher - Offering electronic versions of both books to listeners who email the speaker 6. Importance of learning negotiation strategies and focusing on building relationships - Using tactics such as recording phone calls, paying attention to tone and body language, and building rapport - Caution against manipulative use of these techniques 7. Addressing potential negatives and objections in real estate conversations - Preemptively overcoming objections and guiding towards the proposed solution - Specific examples of dealing with difficult situations and creating successful deals 8. Generations of Wealth conference hosted on a cruise ship - Focus on content sharing and networking, no speaker pitches - Encouraging children to attend and build networks 9. Inviting listeners to attend the conference in Cancun and expand their network - Importance of building genuine relationships with clients - Example of receiving Christmas cards from past clients 10. Speaker's involvement in short term regional lending in Wisconsin - Background in flipping houses and raising private capital - Offering investors a 9% return and lending at 12% with six month terms 11. Being 100% privately funded and not selling loans to hedge funds - Prioritizing customer service and striving to be the best REI funding - Difficulties experienced during the 2007 downturn and the impact of government regulation 12. Alternative methods of buying properties without banks or a lot of personal cash - Strategies such as lease options and master leases to control properties - Finding cash flowing properties in the upper Midwest region, particularly in Wisconsin 13. Ethical and moral practices that benefit both buyers and sellers - Explanation of buying properties "subject to" existing financing - Triggering due on sale clause and potential risks involved 14. Risks involved in buying properties "subject to" and the importance of being able to pay off the loan if it gets called due - Purchasing properties "subject to" in a trust to mitigate risks - Examples of homeowners suffering during the last market crash due to properties purchased "subject to"

On this episode of REI Mastermind Network, our guest, Artem Milinchuk, discusses the intricacies of investing in farmland. He starts by explaining why debt is not accretive in farmland due to low interest rates and how returns in the rental model are about 6-7% net IR after fees. He then delves into the direct operated model, which offers a higher return of 9-11% with the potential for even higher returns. Milinchuk emphasizes that investing in farmland is seen as a defensive move against inflation, as farmland does not depreciate and can appreciate with proper soil care. Throughout the episode, Milinchuk provides valuable insights on selecting target markets for investment in farming. He highlights the significance of vibrant farmer markets and renting land in the United States, revealing that 140% of farmland is rented out in the US, and 98% of farms are owned by families. Renting land has been a common practice for decades, allowing farmers to create multiple revenue streams. Milinchuk explains how they focus on areas with existing vibrant ecosystems, using California's almond production as an example. Additionally, Milinchuk explores the unique aspects of farmland investing, from the long-term yields of orchards and trees to the various strategies investors can pursue. He emphasizes the importance of location and discusses the advantages of US agriculture, including excellent infrastructure for exporting products. Milinchuk also touches on their internal technology called terra, which aids in finding, analyzing, underwriting, transacting, and managing land. Furthermore, Milinchuk addresses the challenges of educating people about farmland and how it is often overshadowed by trendy investments like NFTs and Pokémon cards. He advocates for farmland as a stable and reliable asset class, comparing it to "salad" while dismissing trendy investments as "gummy bears." He shares the story of a crowdfunding deal for an apple orchard development in Vinatchi, Washington, called Galaxy Orchard, which has become the largest crowdfunding deal in the US. As the conversation progresses, Milinchuk emphasizes the importance of proper capitalization, weather considerations, and the significance of finding the right operators and tenants. He shares experiences dealing with unique tenants and highlights the importance of great partners in the direct operated model. Milinchuk concludes by emphasizing the value of hiring and retaining exceptional talent, drawing inspiration from the success of OpenAI and the power of small dedicated teams. Tune in to this episode of REI Mastermind Network to gain valuable insights into the world of farmland investing and learn from the expertise of our guest, Artem Milinchuk. Connect with Artem Milinchuk: https://farmtogether.com/ Topics Covered in this Episode: 1. Debt and Returns in the Farmland Investment Space - Debt not accretive due to low interest rates - Returns in rental model vs. direct operated model 2. Farmland Investment as a Defensive Move Against Inflation - Farmland does not depreciate and can appreciate with soil care 3. Orchard and Tree Investments - Long-term yields of 50 years or more 4. Selecting Target Markets for Farming Investment - Importance of vibrant farmer markets and renting land in the US - Rental practices and multiple revenue streams for farmers 5. Factors to Consider When Selecting Target Markets - Focus on areas with existing vibrant ecosystems 6. Technology and Tools in the Farmland Investing Process - Use of internal technology called terra for managing land - Lack of data tools for analyzing farmland markets at scale 7. Education and Marketing Strategies in the Farmland Investment Space 8. Farmland Investment vs. Trendy Alternatives - Farmland as a stable and reliable investment - Comparison to trendy investments 9. Crowdfunding Deal for Apple Orchard Development - Details of the Galaxy Orchard crowdfunding deal - Introduction of the Cosmic Crisp apple strain 10. Challenges and Importance of People in Farming Investment - Weather and capitalization challenges in farming - Choosing the right operators and tenants - Unique experiences with tenants and stories from the land 11. The Value of Great Talent in Farmland Investment - Importance of intentionally hiring and retaining talent - Trusting intuition and recognizing when someone isn't working out 12. Small Groups of Dedicated Individuals in Changing the World TIMESTAMPS 00:00:00 reimastermind.net 00:01:13 Upbringing, scarcity, and professional interest in food 00:04:15 Farmland comparable to real estate 00:09:29 Target markets filtered for vibrant farmer markets 00:13:00 US agriculture: diverse, connected, and climate-dependent 00:15:39 Education and perception are changing about farmland 00:19:12 Weather unpredictable, capitalize farm, choose partners 00:22:45 FarmTogether.com focuses on education and accessibility 00:26:30 Deliberate hiring, retaining talent, and trusting intuition

On this episode of REI Mastermind Network, we dive into the world of credit unions and how they can benefit real estate investors. Our guest, Mark Ritter, shares valuable insights about how credit unions have control over their money and portfolio, offering competitive rates and friendly terms. He emphasizes that credit unions are not-for-profit financial organizations that require membership, and highlights the advantages of building a relationship with these institutions. Mark explains that credit unions prioritize expanding their membership and understanding their borrowers' financial responsibility, making them a great option for those starting out in real estate. Additionally, he discusses the importance of vetting credit unions and finding the right fit for individual needs. Mark also sheds light on the lending process, emphasizing the importance of transparency and providing necessary information such as tax returns and financial statements. He cautions against quick and easy loans, urging borrowers to take the time to find a lender that aligns with their goals and values. Lastly, Mark shares his personal experience working with credit unions and talks about the pride he takes in helping small lenders grow their portfolios. Don't miss this episode full of valuable insights and advice on navigating the world of credit unions for real estate financing. Connect with Mark Ritter at https://markritter.com/ Topics Covered: 1. Introduction to Credit Unions and their control over money and portfolio - Credit unions' ability to assess property value after rehab and stabilization - Different lending criteria of credit unions based on cost, rehab, and increased value - Offer acquisition loans and cash out values once properties are stabilized 2. Importance of Soft Money Lenders in increasing property value before working with credit unions - Consideration of current market value of properties by credit unions - Regulation and role of credit unions as financial institutions - Loan process requiring quantitative and qualitative information 3. Understanding Borrower's goals and plans as a focus for credit unions - Range of financial services offered by credit unions, not just loans - Friendly terms and no prepayment penalties for credit union loans - Flexibility in decision-making due to lending money from local deposits 4. Role and Structure of Credit Unions - Election and unpaid nature of credit union board of directors - Involvement in the community through running for the board of directors - Accessibility and community involvement of credit union management 5. Benefits of Credit Unions for Real Estate Investors and Small Business Owners - Desire for better relationships with financial institutions and being known by those in charge - Credit unions as a preferred option and their non-profit, cooperative nature - Overview of credit union services such as auto loans, ATMs, and drive-throughs 6. Overlooking credit unions as a financing source for real estate investors - Highlighting competitive rates, friendly terms, and conversational loan processes - Membership requirement for credit unions and their expansion beyond limited groups - Credit unions as a good option for starting out in the real estate business 7. Better understanding and approval of credit union loans for members - Prioritization of membership expansion by credit unions - Vetting credit unions through website research for business and lending services - Asking about relationships and fit with credit union's services and needs 8. Syndication and collaboration among credit unions to increase lending capacity - Companies like MBFS facilitating collaboration and matching with local credit unions - Decreasing liquidity and cautious approach to new relationships due to inflation 9. Importance of open communication with lenders during financial difficulties - Assistance and support from credit unions when facing delinquency - Early communication with lenders for better resolution of financial challenges 10. Speaker's work with various credit unions and preference for community lenders - Speaker's role in helping small lenders grow their portfolio - Transparency and information required by credit unions for loan evaluation 11. Importance of interviewing lenders and finding a good fit for one's needs - Referrals and interviews to ensure lender compatibility with goals - Warning against quick and easy loans leading to unfair terms TIMESTAMPS 00:00:00 reimastermind.net 00:02:34 Credit unions: regulated financial institutions with benefits 00:06:52 Not suitable for all investors owners 00:11:51 Board of directors, accessible management, & community involvement 00:13:42 Keep us informed, transparent, share financials 00:19:26 Credit unions control their money and portfolio 00:20:51 Liquidity crunch and rising delinquency in institutions 00:25:08 Explore credit unions for real estate investment

On this episode of REI Mastermind Network, host Jack Hoss sits down with guest Jake Wiley to discuss the importance of understanding who you're working with in syndications. The episode starts off by highlighting the crucial role that communication and individual attention play in successful investments. Wiley emphasizes that syndicators who have grown large may not always be accessible or responsive, so it's essential to find syndicators who prioritize investor involvement and are willing to answer questions. The conversation then shifts to the significance of asking questions before investing. Both guests stress that asking questions not only reduces risk for investors but also shows that they are engaged and proactive. They recommend face-to-face interaction over email or virtual communication, as it allows for a deeper understanding of the investment and builds trust between investors and syndicators. Wiley shares his recommendation of using the Feedly tool to aggregate news sources and stay informed about the real estate market. He believes that staying informed through this tool can make individuals more confident and less susceptible to hype or misinformation. The episode dives into the importance of mindset in real estate investing. Wiley and Hoss discuss the benefits of networking and building relationships with the right people, which can help investors progress faster and achieve economies of scale. They encourage listeners to overcome their fears, start asking questions, and develop relationships to succeed in real estate investing. Wiley reflects on his own experience, wishing he had learned about multifamily investments sooner. He explains that multifamily investments are achievable sooner than people realize, especially when working with a skilled operator who can make the investment more passive and yield similar returns. The episode concludes with Wiley providing one piece of advice that listeners can implement today: take the time to understand who you are working with and what they're doing. He emphasizes the importance of not blindly investing in someone based on their story or marketing, but rather thoroughly researching and evaluating potential partners. Wiley also highlights the role of assumptions in investment models, particularly in commercial properties, and the importance of understanding how these assumptions are modeled and whether cap rates are expected to go up or down. Throughout the episode, Wiley shares personal stories and experiences, including a cautionary tale about a government program in New Orleans that provided guaranteed rental income for landlords. He shares the challenges he and his wife faced when the program unexpectedly ended, leaving them responsible for collecting rent from tenants who couldn't afford it. This story serves as a reminder to fully understand the terms and incentives of a deal before investing and to not get caught up in hype or time-limited opportunities. Overall, this episode provides valuable insights into the importance of understanding who you're working with in syndications, asking questions, and staying informed about the real estate market. It emphasizes the need for patience, caution, and thorough research when investing, while also highlighting the potential opportunities available in the current market dynamics. Connect with Jake Wiley: https://www.thelimitedpartner.com/ 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

On this episode of REI Mastermind Network, our host, Jack Hoss, is joined by special guest, Alexander Cruz. They dive into the world of real estate investments and property management. First, they discuss the 1 percent rule for real estate investments and how it has been disregarded in certain markets. Alexander shares his experience with his own property, which is close to meeting the rule. He also describes his local market as unique and relatively affordable compared to coastal cities, attracting interest from both locals and out-of-town investors. The conversation then shifts to the importance of technology in property management. Alexander explains how his team uses a software called Asana for task management and organization. They have created templates in Asana to track the progress of each individual job and keep track of various details. Asana serves as a database to store information about utilities, paint color, and other project elements. Alexander emphasizes how Asana has been a game changer for his team. Next, they explore the challenges and rewards of property management. Alexander shares that his company has an internal property management team of over 10 people and has been managing rentals in Baltimore for over 7 years. They currently manage over 430 properties. They discuss the importance of property condition and location, as well as the screening process for tenants. Alexander also emphasizes the need for good communication with property owners and being responsive to their needs. The conversation then shifts to the potential of real estate investments to change lives. Alexander believes that investing in real estate can be life-changing and shares stories of investors from various age ranges, including a 19-year-old who is considered ahead of the curve and retired individuals seeking to diversify their investments. He also highlights the importance of having a champion warrior mindset, drawing inspiration from Tim Grover, who has trained and worked with athletes like Michael Jordan. Throughout the episode, Alexander shares personal stories and lessons learned from his own experiences in real estate investing. He emphasizes the importance of staying in one's lane, understanding property management agreements, and not overthinking the investment process. He also presents his own product, a renovated brick townhome that provides a stable product with low maintenance. The cost for a fully renovated house is around $200,000, and Alexander offers to place and manage the property on behalf of investors. Tune in to this episode of REI Mastermind Network to learn more about real estate investments, property management, and the potential for life-changing opportunities in the market. Connect with Alexander Cruz: https://crofmaryland.com/

Alex Jarbo is a former military serviceman who served in the Marine Corps for 4 and a half years. With a year left on his enlistment, Alex decided not to reenlist and instead pursued a deep interest in various asset classes. He delved into stocks, crypto, businesses, mergers and acquisitions, but it was real estate that captured his attention due to the control it offered, particularly in terms of forced appreciation. Initially attracted to flipping houses, Alex joined a flipping mentorship program. However, during a call with the mentor in 2015, he discovered that the mentor's long-term wealth was tied to short-term rentals. Intrigued and fascinated, Alex decided to invest in short-term rentals himself. With the mentor's guidance, he learned how to choose a suitable market and what factors contribute to a successful short-term rental. Upon completing his military service, Alex relocated to Asheville, North Carolina. He obtained his real estate license and began searching for a short-term rental property to purchase. However, he encountered limited options within his price range that would have performed well as short-term rentals. Undeterred, Alex made the decision to build his first real estate investment – an 800 square foot A-frame property that he still owns today. This initial venture paved the way for further developments, turning 1 property into 2, and eventually growing to over $10 million in real estate with the help of investor capital. Moving forward, Alex has ambitious plans to triple his real estate investments in the coming year, continuing to leverage his expertise and passion for the industry. Connect with Alex Jarbo at https://www.alexjarbo.com 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

On this episode of REI Mastermind Network, our guest, ResilientREI, shares their journey into real estate investing. They discuss their early experiences with purchasing properties and the lessons they've learned along the way. They provide recommendations for books and resources that helped them in their investment journey, and they emphasize the importance of having an exit plan before purchasing a property. ResilientREI also shares their positive experience with investing in unique townhouse condos and explains how they have been able to generate cash flow through these properties. They also dive into the creation of their platform, So Resilient REI, and their goal of eventually doing a full-time podcast to help syndicate deals for their audience. They highlight the importance of building a team and properly budgeting for property expenses to accurately evaluate the return on investment. Additionally, ResilientREI discusses their experience with finding a great property manager in Milwaukee and the benefits of owning rental properties. They touch on market uncertainty and provide advice on the types of investments to focus on. The episode concludes with ResilientREI reflecting on their initial struggles in the real estate industry and how those experiences ultimately led them to success in building their investment portfolio. Tune in to this episode of REI Mastermind Network to gain insights and inspiration for your own real estate investment journey. Connect with ResilientREI: https://resilientrei.bio.link/ 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

David Friedman is the founder of Knox, a platform that helps customers buy their new home while ensuring their old house remains a reliable long-term investment. The company provides a product called "Keep Loan" which offers access to equity in one's home in the form of cash. They help customers find a mortgage for their new home and also sign a master and sublease for the old house to offset any income issues. Knox takes over the operations of the investment by finding tenants, property management, rent collection, and providing insurance. David believes that keeping one's old home is one of the best investing opportunities, and he has made it easy for customers to achieve it. Connect with David Friedman: https://www.linkedin.com/company/knoxfinancial/ 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 00:00:33 Knox helps buy new home, keep investment 00:03:36 Real estate investment analysis, tailored offers 00:06:30 Home sellers struggle; homeowners access equity 00:10:00 Company built on technology for real estate 00:14:02 Knox helps homeowners invest and succeed 00:18:32 Transparent pricing for leasing and financing products 00:20:46 Tenants not paying rent, landlord's struggle 00:26:34 Fed should have cut rates in 2020 [00:27:19] "Visit again, show notes have links. Thanks!"

Edward Brown is a financial consulting and tax work expert who started his business in 1983. He got into the hard money loan space in the early 1990s and has seen multiple cycles. His best time was during the SNL crisis in the early 90s, when he used to say it was like shooting fish in a barrel. He specializes in the owner occupied consumer bridge loan. He believes it's a challenging loan to provide because of the expensive barrier of entry to be a lender. Despite this, Edward's business, Private Money, has become one of the few licensed lenders in California to provide this loan. They cross-collateralize existing properties with target properties, so their borrowers don't have to move twice. Edward predicts that they will be the number one private lender in the United States for doing owner occupied consumer bridge loans, and they'll probably do close to a billion dollars in transactions this year. 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 00:00:47 Specialized in owner-occupied bridge loans, success story 00:03:59 Real estate prices stable with less brokers 00:09:32 Freedom Fund offers up to 9% return 00:13:45 Avoiding loss in real estate investments explained 00:18:59 Real estate lending, low risk, high profit 00:23:59 Loan risks, interests, fund hold time explained 00:26:07 Underwriters' role in evaluating borrower's situation 00:30:47 Bridges loans limited to one year 00:34:59 Advice: Don't do fractionalized deeds 00:37:20 Buying discounted notes profitable in foreclosures

Brett Swarts is an expert in solving the tax problem faced by high net worth individuals. He does this using a deferred sales trust, a tool that allows individuals to defer tax in the same way as a 1031 exchange or IRA. With this trust, investors can diversify their investments and purchase different types of assets at the right time. The trust is established using a business trust coupled with a tax code called IRC 453. Once in the trust, individuals can defer tax on primary homes, businesses, cryptocurrencies, investments, and real estate deals worth over a million dollars. Brett's expertise is in creating these delayed tax trusts for his clients and helping them invest their funds wisely. Connect with Brett Swarts: https://capitalgainstaxsolutions.com/ 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