Get Rich Education
Get Rich Education
Sep 14, 2020
310: A Real Estate Winner Today: Florida New Build-To-Rent Homes
Play episode · 46 min

The pandemic has fueled remote work.

A New Yorker paying $4,000 rent in a 1 BR apartment can now work from Florida, paying $1,500 rent in a 3 BR & 2 BA single-family home.

Central Florida benefits from this in-migration. 

Florida has law that favors landlords, zero state income tax, a low cost of living, beach proximity and of course, warm weather.

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These Central Florida Build-To-Rent properties are brand new. 

They often appraise for $5,000 to $10,000+ more than your purchase price. That’s built-in equity.

Your rent-to-price ratio is often 0.8% to 0.9% for single-family rentals. The average tenant stay is 3+ years in this new construction.

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The growth and economic diversity in the region is astounding.

The time is likely “now”: brand new construction, high rent occupancy, cash flow, low interest rates, low insurance premiums, low $160K - $220K property cost.

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The Remote Real Estate Investor
The Remote Real Estate Investor
Our Top Tips for Finding & Vetting A Good Lawyer
In this episode, we wrap up our series of finding an vetting solid vendors with the lawyer. Join Emil, Tom and Michael to learn their strategy of finding a good lawyer. --- Transcript Emil: Hey everyone, welcome back for another episode of The Remote Real Estate Investor. My name is Emil Shour, and I'm joined by, Tom: Tom Schneider, Michael: and Michael Albaum. Emil: And today we are going to be continuing our series on tips for finding and vetting different members of your real estate investing team. Today we will be covering the lawyer. Let's hop into it. Michael: Tom, what is in your hand? Tom: What?! What are you talking about? Michael: Looks like you have a tail. Emil: What is going on? Michael: Is that a crop for like a horse? Tom: It's this thing called an Orange Whip. It's it's actually pretty fun. Emil: I hope you don't use it on your child. Tom: No, no, no, it's a golf tool that I just kind of hold at my desk, and it has tons of wiggle waggle. Michael: Mm hmm. Tom: So when you swing, I'm kind of a gimmick guy like a golf gimmick guy so like is that they buy something you know, like a straight jacket that helps you whatever your swing, I'll buy it. I got this thing recently called. And I'm very pro Orange Whip it. So when you swing back, this orange ball that's has like a ton of wiggle waggle. It makes really good tempo and improves your swing. So you're not coming over the top, you got a nice inside out swing. I'm funny with golf. I don't play like that often. But when I do, like, I just like, you know, go all out. And so like 10 months of the year, don't really play it. But then two months, like, oh, man, I need this gimmick. I think I figured out and yes, Michael: I was gonna say I've known you for a couple years and not once have I ever heard you mentioned golf. Tom: I mean, we must have not talked during that little month sequence that I was really into it. But as a shout out there, Orange Whip. This isn't a paid promotion. But I think if you're in a golf and you want to have good tempo, and strengthen, get an Orange Whip, I'm pro Orange Whip. So that's what's behind me. Emil: You're gonna love this. So my brother in law started this little it's another gimmick. It's called putt cup. Tom: I’m in, Ooh. Emil: So a mug that has a flat brim so you can lay it on the ground and just practice your putts. You know if you'll put mugs on the ground, but it has this flat side to it. So you get a nice roll in there. Tom: That's beautiful. At first I was thinking oh, there's a hole in the cup. So when you putt it goes in, but that doesn’t make sense. Michael: Wouldn't be a cup anymore would it? It’d be more of a funnel. Tom: Where does he sell it on? Emil: Amazon. You just go look up putt cup. Tom: I'm in. Emil: Another gimmick for you. Michael: Also not a paid promotion. Tom: Yeah, another! Emil: Have you heard of it? Tom: Have you heard of it? Michael: It's a little book company. Emil: Small boutique retailer. Tom: Related to Amazon is this thing called fake spot. So an Amazon companies could like spam a bunch of high ratings when they have their product. But there's this thing called fake spot that you I think I posted on that Academy Slack channel that will analyze if the ratings are fake, and it gives a true ratings by looking at and getting rid of the bots. It gives you an honest take. So Orange Whip, fakespot, and Amazon. Those are my three recommendations for today. Emil: Okay, guys, well, we could be talking about golf and Amazon all day. But people are here for our real estate knowledge, or lack thereof. So let's talk about how you find and vet, a lawyer. We’ll break it down into three parts. So when in the process of your real estate investing journey or buying a property, should you look for this person? How do you source? So how do you go out and find a lawyer? And what are the best questions to ask to make sure they're legit, and can help you and be a valuable member of your team? So let's start with when in the process. Should you find the lawyer? Do you guys have went Have you guys done this in the past? Tom: All right, so I'll jump in first. If you are investing passively, you're holding properties in your own name, you know, it's not necessary that you buy them in an LLC, I would argue that within your checklist to get going as a remote real estate investor, getting an attorney in place is not high on that list. And that you don't have to do it before you start evaluating. You don't have to do it before you start buying. If you are looking to own these properties into a more complicated structure, with either LLC is sure you're going to want to have an attorney either to help you, you know, set up your LLC or using like a Legal Zoom or one of those type platforms. But if you are like myself, and perhaps you own a couple of properties, not in an LLC, you have it in your own name. It's not necessary to have get a lawyer upfront, or even after you own. You know, it really depends on what you're doing and what your threshold for risk as it relates to having things in your own name. You know, as far as timing, I would say it depends and it's not necessary to do upfront. Michael: So I'm going to take the counterpoint to a slight degree. I think it depends on what your risk tolerance looks like and what your starting assets look Like, if you don't have a whole lot to your name, it's probably less important to go chat with an attorney prior to. But if you do have a lot to your name, you could have a bigger target on your back. And so, I think just understanding what you're getting into the risks you're taking on, and what structure if any might be appropriate for you, those can all be really great questions to ask on the front end, prior to purchasing. And just as if you're looking to get involved with real estate as a whole, again, good questions, to be asking questions to go get answers to just so you're coming to the table with all the information or as much information as you can. And so having a consult with an attorney doesn't have to be yours. But one, a real estate attorney in general, can be really great, and how do I protect myself, but also understand that they are likely going to try to sell you something, all kinds of asset protection, and they often will use scare tactics. So take everything you hear with a grain of salt and go talk to other investors about what's actually happened in their world. Tom: Another thing to think about is, what are the different use cases that you're going to be using attorney with, so one of them would be on the front end, you're, you know, setting up a structure, maybe you're putting a fund together, maybe you're putting together a single member LLC, you know, that's a use case of using an attorney. And if you're not going through that, it's not necessarily that you find one other use cases that come in with an attorney is perhaps you buy a property, and there's an eviction with the tenant or some kind of issue like that, more likely than not, your property manager is going to have some legal, you know, representation, or kind of like a third party that they'll use to manage the process of eviction or three day notices and all that stuff. So it's not necessarily that you personally have an attorney to do this, your this is something that you're paying your property manager to do, they're gonna forward some of those costs to you, but they're going to get kind of better, better pricing, because they're like at scale, and probably have like, pre made templates for a lot of this kind of stuff. What other use cases would you be using an attorney with you guys think of? Michael: That's like, 85% of my experiences with it, I've used mine in an insurance issue, I had to bring in my attorney and just be like, Hey, I'm not getting the service and answers to the questions that I'm posing. And then also with…
19 min
Real Estate Investing for Cash Flow with Kevin Bupp
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
#294: How to Leverage Commercial Real Estate Investments to Get You Out of Your Dreaded W2 Job – with Brian Hamrick
This week's episode of the Real Estate Investing for Cashflow Podcast features Brian Hamrick.& Brian Hamrick is the owner of Hamrick Investment Group, which controls over $32 Million in assets, including Multifamily and apartments, Self-Storage, Office, and performing and Non-Performing Notes. Brian currently asset manages 370 apartment units in Grand Rapids Michigan and successfully transitioned from his W-2 job to full-time real estate investing in 2014. In addition to his real estate endeavors, Brian also hosts a popular real estate investing podcast which can be found on iTunes and all other listening platforms. Quotes: “So, I had all this money that was sitting in a bank account and I realized; I don’t know what to do with this. I didn’t even know what a Mutual Fund was at the time and I was 30 years old. So, I just starting learning and investigating.” So, automating it really just made things so much easier, streamlined everything, and now we don’t need to have anyone on site except maybe a couple times a week to make sure it’s clean and sweep out empty units. Highlights: :40- Brian's background 9:28- Brian tells us what his favorite market is 15:27- Brian talks about if his new model is scalable and replicable 22:11- Brian gives his opinion on foreclosures and non-performing notes skyrocketing as a result of the pandemic 26:15- Brian tells us what asset classes he thinks will thrive in the pandemic 30:53- Brian tells us about a bad deal he had and how he got through it Learn About Investment and Partnership Opportunities with Kevin and His Team
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Wholesaling Inc
WI Publishing
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If you’re wondering how brilliant people like TTP’s Brent Daniels is crushing the wholesaling game, you’ll be in for a treat. In today’s awesome episode, you can listen in as Brent masterfully displayed why he’s the TTP guru! Brent Daniels is hands down one of the most successful wholesalers nowadays. He has also helped thousands of people through his cold calling mastery training, YouTube channel, and podcasts. In this special episode, you’ll get an exclusive look into how he talks to wholesalers and why he’s considered one of the masters of the wholesaling game. If you need a masterclass on active listening and building rapport, this episode is for you! If you’re wondering how brilliant people like TTP’s Brent Daniels is crushing the wholesaling game, you’ll be in for a treat. In today’s awesome episode, you can listen in as Brent masterfully displayed why he’s the TTP guru! Brent Daniels is hands down one of the most successful wholesalers nowadays. He has also helped thousands of people through his cold calling mastery training, YouTube channel, and podcasts. In this special episode, you’ll get an exclusive look into how he talks to wholesalers and why he’s considered one of the masters of the wholesaling game. If you need a masterclass on active listening and building rapport, this episode is for you! RESOURCES: * All The Leads * TTP Cold Calling Training
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Master Passive Income Real Estate Investing in Rental Property
Master Passive Income Real Estate Investing in Rental Property
Dustin Heiner
Become a Millionaire Starting With $0 Investing In Real Estate
These are the exact steps I took to become a millionaire by the time I was 34 years old. It took hard work and determination and if you apply yourself to these steps, you can become a millionaire too. Get the Free Real Estate Investing Course: Join the Real Estate Wealth Builders Investor Membership // WHAT TO WATCH NEXT How to Become Successfully Unemployed: Get Money For Investing in Real Estate: How to Start Investing In Real Estate: How to Analyze a Real Estate Investing Deal in 5 Seconds: How to Set Up Your LLC for Your Business: How to Use Owner Financing to Make Loads of Money: //BEST REAL ESTATE INVESTING RESOURCE LINKS Free Property Find Deals On Properties: Get Business Funding Great High Interest Savings Account: Accurate Rental Rates: Self Directed IRA for Real Estate Investing: Learn more about Dustin and find resources to build an automatic real estate investing business: Join our free private Facebook group! #realestateinvesting NOTE: This description may contains affiliate links to products we enjoy using ourselves. Should you choose to use these links, this channel may earn affiliate commissions at no additional cost to you. We appreciate your support!
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Millionaire Mindcast
Millionaire Mindcast
Matt Aitchison
Build Generational Wealth, By Healing Generational Wounds | Yahya Bakkar
In this episode of the Millionaire Mindcast, we have a superb guest Yahya Bakkar who shares his journey of becoming a man and understanding himself, the pros and cons of social media in business, the integration between feminine and masculine energies, tips for anyone building a brand, how to figure out a business model, and what are the 5 pillars of trust in life or in business! Yahya is a family man, speaking coach, business mentor, legacy builder, and founder of Yahya Bakkar, a platform that helps experts create highly profitable impact-driven businesses that build wealth and legacy without sacrificing the freedom and time for their family. He is also one of the top speakers in the education market. Yahya’s journey and the story have always been overcoming adversity. Both of his birth parents abandoned him. He was brought from the Middle East to the United States when he was 5 years old by his Step-mom and without his dad who was too busy with business travels. He was typically a shy boy trying to fit in the new world. It was in middle school when he joined a talent show that broke him out of his shell. Accordingly, the stage became a former validation for him, where he learned how to get the attention of people. As Yahya grows older, he tries to figure himself out and becomes a people pleaser. He was constantly disturbing by what other people thought about him, especially his father. Their closest bond was only when he joined taekwondo and became a black-belter. Yahya’s dad thought that he needed to provide a living and protect his family but his way to justify it is by working 24/7. At 14 years old, Yahya was left alone by his father for out-of -country works. This made him an early bloomer and a rebel. At an early age, he experienced sex, and partying, and do things without boundaries. Only he found the right path and clarity when he met his childhood sweetheart and now his wife. He realized that at an early age, no one’s going to save him. Therefore, he had to be self-reliant, resilient, and to be completely accountable to his own life. Yahya reminded himself that he still has control over and it’s his mindset. He wanted to start a clean life free from negativities. So, he decided to get into different types of therapy to heal himself emotionally, and mentally. This was his way of healing generational wounds. He believes that he must handle it first in order to build an amazing family and life contrary to what his father did although he learned a lot from him. In 2011, he started his speaking career. Later in 2017, he began building a brand that leads to hundreds of speaking events all over the world. However, Yahya believed that this was not him. He wanted to take off the masks he was wearing to show his authentic self. His first move was publishing a video about his secret addiction to porn that resulted in a loss of 80% of booking which he completely understands. Relative to this, business models are a big thing to Yahya. Therefore, he shifted his business model in order to support his vision of raising a family and being always present with them. Yahya started a social media video challenge and was able to crack the code on how social media works. As well as how to build a multiple 7-figures coaching consulting business using it. Yahya is now working online from home for three years. Being a student of life, this man is constantly learning. His mission to himself and to other people is to help them not just build generational wealth but also build a legacy without sacrificing your family, being rich in emotional accounts, navigating relationships, and winning challenges through integration between feminine and masculine energies! Some Questions I Ask: * Where did this all begin for you on your own entrepreneurial journey of building the brand of Yahya Bakkar? (01:03) * What are your overall thoughts right now on the social world and what people should be aware of how it ties in their definition of what wealth is and they can create for themselves? (20:11) * You have that infectious energy, is that something that you always felt that you had? (21:26) * How do you manage the balance of this all-inclusive lifestyle? (41:56) In This Episode, You Will Learn: * Yahya as a people pleaser (04:59) * The powerhouse of building a legacy (10:14) * Integration of both feminine and masculine energies (11:03) * Personal Development versus Self-Improvement (14:53) * The two (2) goals of Yahya (22:32) * The pros and cons of social media into business (30:22) * "Every social media platform is going to have its time" – what does it mean (32:24) * Yahya’s advice for anybody who is building a brand (37:50) * The checklist of figuring out a business model (45:17) * 5 pillars of trust in life or in business (47:34) * A-L-I-V-E: What does it mean and how it integrates energies (48:00) Quotes: * “Every adult is also a child disguised as an adult.” * “I’m a student of life and I will always be a student of life.” * “We’re all grown through what we are going through.” * “Energy cannot be created or destroyed, it can only be transformed or transferred.” * “You are never as good as people think you are, you are never as bad as people think you are or say you are..” * “Your brand, you are a business.” * “It’s not about how much you make; it’s how much you keep.” * “Make sure that you have the right business models, so you can become the best role models for the ones you loved.” * “Business has always been relationships; trust has always been the currency.” * “A legacy is about building generational wealth and healing generational wounds.” Connect with Yahya Bakkar on: Website Instagram LinkedIn Facebook YouTube
1 hr
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