123. Why Foreign Investors Flock to US Real Estate & Tips for Investing in the US w/ Reed Goossens
33 min
Reed Goossens is a real estate syndicator, investor, bestselling author, and public speaker. Today we discuss Reed's story of moving from Australia to becoming a US real estate investor, why foreign investors love US real estate, tax tips for foreign investors investing in the US, San Antonio, and much more!

Learn more about Reed and his work: https://www.reedgoossens.com/

To download The Real Estate CPA's in-depth guide to qualifying as a real estate professional visit: www.therealestatecpa.com/guide-to-qua…professional

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The Remote Real Estate Investor
The Remote Real Estate Investor
The Secret Sauce Behind Roofstock's Neighborhood Scores
If you have ever browsed the Roofstock Marketplace, you will be familiar with the neighborhood scores used for risk assessment. If you have ever wondered what goes into the calculation of these scores, join Tom and Michael as they interview the Head Data Scientist at Roofstock, Mike Polyakov, about what exactly goes into these values. --- Transcript Tom: Greetings, and welcome to the remote real estate investor. On today we have a special guest, Mike Polyakov, who is the head data scientist at Roofstock. And in this episode, we're going to be talking about the Roofstock neighborhood score. What goes into it? How is it updated? And what makes it special? All right, let's do it. Tom: Mike, thank you so much for coming on to the episode. You are the lead data scientists at Roofstock. Mike That's correct. Oh, yeah. Happy to be here. Tom: Excellent. So before we get into the specifics of the episode, which is going to be on the neighborhood score, I'd love to learn a little bit more about yourself before you got to Roofstock. What were you doing? And then now that you're being at Rootstock for a little bit of time, what's your kind of day to day like, like, so let's start at the beginning. What were you doing before you came to Rootstock and to be the lead data scientist? Mike: Sure. I have kind of an unusual background. So which combines political science. I have a PhD in political science from Berkeley, which I got in 2014 in computer science, which I guess, which is the kind of before a PhD, and then sort of went back after I finished the PhD, right before coming to Rootstock. I worked at crowd pack, which is a political crowdfunding startup, I believe they're still going. And there's some different leadership there in San Francisco, I was there for almost three years. Also doing data science there, since I joined Roofstock in 2017, worked on a variety of projects. Some of it is kind of typical data science things. So things like analyzing users trying to understand accorded the best leads, doing a bit of marketing work, and also more Roofstock specific things. So things like estimating rents, valuating variations of properties, and of course, the neighborhood score that we'll talk about here. Tom: Super interesting. Michael: Well, this is gonna get so off the rails so quickly. I mean, I would love to know what a PhD you know, what, what in most your classmates do after getting their PhDs, Mike: So it's going to be like a Stuff You Should Know. So it really varies. A lot of them actually stayed in academia in political science. One guy from my class went to back to Singapore, where he was from, and he's kind of a middle level bureaucrat there, some folks have teaching jobs, others just went back into the world and two totally random things. Tom: What brought you to getting into FinTech? Mike: It wasn't FinTech specifically, but that summer 2017 crowd pack was, you know, a little bit on the rocks. And I was looking around, and I was actually interested in investing in real estate, didn't know a whole lot about it had invested at that point, and kind of find out about rootstock through one of my alumni connections, and it seemed like a perfect opportunity. Tom: What better way to to learn than just jumping right in? Go ahead, Michael. Michael: Yeah, exactly. Yeah, I was gonna ask Mike, since learning about it, have you then since started investing in real estate? Mike: Yeah. So I'm a little embarrassed to say that for the last year and a half, I've been in sort of analysis paralysis, where I've been wanting to, but our sport is the market selection for me. I've done the Academy of both these most of the lectures. So I'm all ready to go except I need to start. Michael: Yeah, anytime you want. we'll hop on a coaching call. And we can talk through some of that analysis paralysis. Mike: Sounds great, man. Tom: Excellent. Excellent. Michael: We could go on forever, I'm sure. But let's talk about the neighborhood score, Tom. Tom: I know, I know. So first, I have a couple questions related to the neighborhood score. Let's start out with what are the different variables involved with it? And, you know, actually, I'm going to even take a step further back. Is there a general thesis of the neighborhood score of what we're trying to solve for? And how did it like internally on the data science team? What do you what is like the kind of the overarching goal when you think of the neighborhood score? Mike: Yeah, absolutely. It's best to start at the beginning. Yeah. So in the real estate world, and you've probably touched on this in some of the lectures, there's this notion of a neighborhood class, right, you might assign letter grades ABCD a being the best. And from investor's point of view, this is the mechanism to account for risk associated with location, right, so that for an investment, you can compare returns versus the versus the rest. Typically what those letter grades capture is both operational risk and the expectation, appreciation or decline of an area. And operational risk includes things like turnover evictions, effective age, rents, vacancy, all that stuff. The downside of that traditional neighborhood class notion is that one, there's no formal definition, right? It's kind of I know, when I see it sort of thing. And so when investors see might be not going to speed will vary even within the same market. But the other big issue is scale. Right. So most investors are focused on a single market. And so they lack national perspective, right, they might be assigned, might be able to assign some very accurate grade, so to speak with an Atlanta weather base, but really struggle to do the same thing as Charlotte. And so what the neighborhood score tends to do is to serve, operationalize it, make it scalable across the country, and use data to make it objective. So specifically for Rootstock neighborhood score, the goal is still to assign location based risk to properties, and specifically operational risk. So that's the start. Another important thing to say is kind of at the outset is what is neighborhood mean, for us, right? Because it's very fuzzy term. People mean different things when they say neighborhood, in our case, neighborhoods pretty large. Specifically, it's the census tract. So the US Census divides the entire country into tracks. And each track should be roughly the same number of households, it's about 1500. In a metro area like Atlanta, it's going to be comparable to a zip code. So you know, it's not going to be your block, or what some people might sort of colloquially refer to a neighborhood. So a little larger than that, but it allows us to get a lot of statistical power when we look at the data. And so what data do we use a lot of is actually what would be the same as what the real estate professionals would looked at. So it's things like information about the housing stock, but the individuals in the area, but the households, school scores are going to be pretty important and crime data, high level that that's what goes into score. Tom: Got it and on the size of the area. So you had mentioned like the census track is kind of a moving target based on how dense the area. Am I understanding that correctly? Mike: Well, no. So the idea of a census tract is that it should be roughly the same population. So any track Yeah, they're not gonna be exactly equal, but they're gonna be pretty similar. Tom: Does it relate to zip codes, or zip code plus two, or zip code plus four? And, and what does that mean zip code plus two plus, plus four? Mike: Yeah, so it doesn't, they're completely separate in all ways, except that in certain areas, there will be roughly comparable size, like in Atlanta, I just happen to know that a lot of the zip codes are about the same geographical size as the census tract when you say a zip code plus two, which is pretty uncommon, zip plus 4 is a little more common. So the US…
23 min
The Power Of Zero Show
The Power Of Zero Show
David McKnight
My Thoughts on the Securing a Strong Retirement Act of 2020
The Securing a Strong Retirement Act is a bipartisan bill currently working its way through the house and has major implications for everyone in the country. We are finally getting some relief from RMD’s. With life expectancy increasing they are looking at pushing out Required Minimum Distributions until the age of 75. This primarily benefits people of substantial means since the average person with money in their retirement accounts are withdrawing it above and beyond the minimum and well before age 75. Another interesting provision has to do with student loan debt. The new bill stipulates that people putting money towards paying down their student debt could have an equal amount of money put into their 401(k). It also says that if you have balances in your 401(k) or IRA you would be completely exempted from taking a Required Minimum Distribution. Seniors will also be able to count certain donations towards their RMD. Under the current law, there is a catch-up provision on the books. They are proposing that if you’re over the age of 60 you will be able to catch up even more. If you believe tax rates are going to be dramatically higher in the future than they are today this is an opportunity to put additional funds into a Roth IRA. There are massive expansions of the buckets into which we can contribute after-tax dollars and allow them to grow tax-free. The average person changes industries seven times over the course of their lifetime and another provision would help people get reconnected with 401(k) accounts that were forgotten or left behind. The biggest takeaway from this new bill is that you will be able to make more contributions to Roth 401(k)s and Roth IRA’s. The goal is not to get a deduction at historically low taxes, we want to pay the taxes at historically low levels so that when taxes are dramatically higher down the road we can take that money out tax-free. If you’re just out of college, this bill will be an opportunity for you to get a jump start on your retirement savings while you’re paying down your student loan debt at the same time.
11 min
Apartment Building Investing with Michael Blank Podcast
Apartment Building Investing with Michael Blank Podcast
Michael Blank
MB 242: The Systems to Scale Your Syndication Business – With Jorge Abreu
What is the key to scaling a real estate investing business? Growing your investor database? Raising more and more capital for deals? Putting together and training a capable team? Yes, all of those things are absolutely necessary. And they all require that you build out systems. Systems that allow the business to run on its own. Jorge Abreu is the Cofounder and CEO of Elevate Commercial Investment Group, a Dallas real estate firm focused on the acquisition of value-add multifamily assets. In his 15-year career, Jorge has flipped 200-plus houses, wholesaled another 100 properties and done $8M in ground-up construction. Since his introduction to multifamily four years ago, Jorge has built a portfolio of 1,700 units worth $125M. On this episode of Apartment Building Investing, Jorge joins cohost Garrett Lynch and I to share the challenges of scaling a single family investing business and discuss what inspired his transition to apartment buildings. He weighs in on the value of networking (online and in-person) to forge new partnerships and build a solid team. Listen in for insight on building systems to grow your business and learn why Jorge recommends skipping single family and getting right into multifamily investing! Key Takeaways What inspired Jorge’s interest in real estate * Research of successful individuals * Entrepreneurial role models in family The challenges of scaling a single family business * Difficult to find reliable contractor for flips * Creating systems to delegate work How Jorge started over in Dallas after 2008 * Network every day, go to every event * Build team and find partnerships The value of finding a good partnership * Division of roles affords time freedom * One partner as visionary, one as executor The benefits of multifamily investing * Build generational wealth * Branch out into other companies How Jorge attracts and retains team members * Make sure everyone happy * Check in re: expectations When to bring property management in house * Implement own systems (control) * More appropriate with scale Why Jorge runs his own construction company * Helped scale single family business * Confident taking on any heavy lift Jorge’s insight on raising capital for multifamily * Invest passively to get feel for business * Market to build database of investors What Jorge does to market his syndications * Build platform, daily posts on social * Funnel with email marketing follow up How Jorge manages his investor lists * Speak to new investors asap * Strategic messaging to match goals What’s next for Jorge and the Elevate team * Explore new partnerships * Fine tune system for evaluating deals What Jorge would tell his younger self * Build out systems early on * Go straight to large multifamily Connect with Jorge Abreu Elevate Commercial Investment Group Email jorge@elevatecig.com Resources Join the Nighthawk Equity Investor Club Learn More About Michael’s Mentoring Program Garrett at Nighthawk Equity National Real Estate Investors Association Traction: Get a Grip on Your Business by Gino Wickman ActiveCampaign Deal Maker Live The Deal Maker’s Mastermind Podcast Show Notes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group
43 min
The Wealth Without Wall Street Podcast
The Wealth Without Wall Street Podcast
By Russ Morgan CFP® & Joey Muré
The Accumulation Model vs. The Cash Flow Model with Randy Lawrence
#165: If you’ve been working for 40 years and have put money towards your retirement, are you sure it will last? While spending your money over the remaining years of your life, you wonder: Is this all there is to it?  The accumulation method is a villain. It taught you to scrimp and save until you have a mountain of money, yet in the end, you still worry that it’s going to run out, creating a scarcity mindset. Is there a better way? Let’s hear from a former stockbroker - https://therealestatepreacher.com/podcast/ (The Real Estate Preacher), Randy Lawrence. Today, he teaches us how to transition from accumulating wealth to getting more returns on real estate, finding a way to earn every month while growing your asset, and establishing a cash flow model. Learn the impact of having the financial disciplines like operating within a budget and starting a systematic approach to transforming your current economic model.  “Discipline is what provides freedom.” ~ Randy Lawrence Top 3 Things You'll Learn: How to be reasonably responsible with your income and expenses Understanding what’s the right asset class for you Beginning a systematic approach to transition at a time table that you’re comfortable with   About Randy: Randy Lawrence is a veteran real estate investor having decades of experience with single and multi-family properties and a transformational community leader and church founder. Having started his career as a traditional wealth manager, Randy understands finance and investing strategies in the broadest sense. Ultimately Randy determined that real estate was the ideal investment vehicle for his portfolio. Over sixteen years ago, he began partnering with other investors, to their mutual benefit. Today, Randy oversees a real estate portfolio of close to $105M in multi-family assets and is on track to double these holdings in the next three years.   Resources: - Prosperity Capital Partners: https://pcpre.net/ (https://pcpre.net/) - The Real Estate Preacher Podcast: https://therealestatepreacher.com/podcast/ (https://therealestatepreacher.com/podcast/)   Connect with Randy: - Facebook: https://web.facebook.com/TheRealEstatePreacher/ (https://web.facebook.com/TheRealEstatePreacher/) - Linkedin: https://www.linkedin.com/in/randylawrence1/ (https://www.linkedin.com/in/randylawrence1/)
36 min
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