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
Michael Zuber on When to Buy Turnkey vs When to Use The BRRRR Strategy
In this week's nugget of weekend wisdom, Michael Zuber weighs in on when to employ different acquisition strategies. --- Transcript Emil: Hey everyone welcome back for another episode of The Remote Real Estate Investor. This is one of our weekend wisdom episode. So hope this catches you on an amazing weekend. So in this week's episode is somebody you guys are probably familiar with. If you've been following the show for a while, we have Michael Zuber back on who is the author of one of my favorite real estate investing books called one rental at a time, he also has a YouTube channel by the same name, definitely recommend checking out both of those. If you want to check out if you missed Michael's previous episodes, he was on episode 11 and 37. So go check those out. He's a regular on the show, and we wanted to bring him on for a quick weekend wisdom. So hope you guys enjoy this one. Theme song: Emil: You mentioned doing BRRRR during 2010. Really before it was even BRRRR. I know you've also mentioned you know, if you're a busy professional, like you don't want to tie up a bunch of capital like buying a turnkey can be smarter because you're not having to keep putting a ton of money in. I'm curious if you have, Are there times in the market cycle that you prefer one or the other? Or how do you decide right now I'm going to be I'm going to follow the birth strategy versus right now I think I'm just going to use less capital go turnkey. Michael Zuber: So for me personally, or are we talking about your audience? Because we're really different people, right? Your audience is busy professionals. That's probably what you're asking about. Emil: Yeah, but I'm curious. Just even from your story, right, you were a busy professional. And at some point, you kind of made the transition. So maybe it was just being comfortable… Michael Zuber: When you think about, so buy and hold rental properties is one rental at a time, right, you can get at one rental at a time, basically two different ways. One way is you can buy turnkey properties, which I consider clean, zero make ready, right? Means you buy it, you either have a tenant or you you stick a tenant in no additional dollars out of pocket, just so we can clean up the understanding. I believe in the beginning, when you have yet to build a team when you have yet to really understand the network and all the nuances in any market the right thing to do the least risky thing to do, the fastest thing to do is to do what today is called a turnkey property. That said, as you gain experience, as you gain units, you as an more experienced investor will have the option to make choices, there will be market cycles, I've been doing this 20 years, and there's been two or three portions of this cycle where bur is just more profitable. The best example was 2010 to 2014 in that market, because it was generally bouncing off the bottom, you still could get yesterday's prices and tomorrow's values. So if you bought a dump, you got yesterday's prices, but once you polish it up, you can get tomorrow's value because there wasn't a great supply of them. That was such a special time. BRRRR was a huge benefit for me because I recycled 95% of my capital or more every time so I could just keep on buying as fast as I found deals in my pile of money never left and it never had to grow. So that was a pretty special time. Lots of people, Brandon Turner included were very successful in that time. And he's built a great career off of it David green as well I believe but most markets are not 2010 to 2014 where you really couldn't do anything wrong. Right? In between 2010 and 2014. If your project was too much longer than it should have been you won if your project cost you an extra 10 grand you won I mean it was it was a special time and for people to not nuance The difference is just not fair. That was so special. It may never be that easy. Again, that said you can always find what I now call slumlord properties today you have to find really slumlord properties but they're out there right? These are ones that can't be financed, no bank would loan on them you have to pay cash very few buyers have appetites for properties that smell and have bugs and just are disgusting but if you can negotiate a fair price you can go in get it because it doesn't really cost that much more to fix a disgusting versus a semi disgusting because it's still paint still new floor still new kitchen still new bath, still some floor it's all the same stuff. So you can still go in you just got to buy them right I would tell you in a market that is so hot for owner occupant that doing bird today is a lot harder than 2010 to 14. Not impossible. I'm going to suspect the market will get better for Burr in the future when it's more even keeled today, at least in the markets. I'm in owners are dominated the market 90% of the offers are coming from owners only 10% from investors. I have never seen it that way. It is so hard to be an investor today because there's no inventory and everything that clean is getting bid up by FHA buyers, which put less down and have lower interest rates. So I can't compete. I put in 100 offers or so this year and haven't gotten any of them. Emil: Yeah, that's kind of what I was getting to that answers it perfectly. It's it's kind of like a blend of experience having the right team knowing how much all those things are actually going to cost you which only comes with experience and then partly timing. Michael Zuber: Yeah, the one thing I would really close with is I would never tell someone to make BRRRR their first investment Too risky, too many ups and downs. It's just too hard. You don't even know if you want to be a landlord yet. And now you're going to take on working with general contractors without knowing the team, the risk profile of your first rental property being a BRRRR project. Not great. Emil: Yep. Michael Zuber: Your chances of success are not great, Emil: Especially as a remote investor, which is our audience. Michael: Yeah, not great. Time man, time. The thing that people don't realize is a busy tech professional. It's usually not money. That's our constraint. It's time, time, right? We time use it more efficiently. I tell people you can learn your market 20 minutes a day, people fight me on now like frickin ages. Do it stop going 1000 directions in 1000 different things. Just focus, tighten up your focus. Look at it 20 minutes a day and move on. Right? You've got life you got to raise a family. You got all this 60, now you're working at home you're working 24 seven. And you know, use Roofstock Learn to market pick, look, get after it and just move on. Emil: Love it. Awesome. Hope you guys enjoyed that episode. And thanks again to Michael Zuber for coming on. We'll have him on on a future episode as well. Alright guys, enjoy your weekend. Happy investing.
6 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
45 min
Apartment Building Investing with Michael Blank Podcast
Apartment Building Investing with Michael Blank Podcast
Michael Blank
MB 237: Biggest Myths about Building a Platform to Raise Capital – With Patricia Sweeney
Wish you could attract an audience of engaged, eager investors like we do at Nighthawk Equity? Have you thought about building a thought leadership platform but rejected the idea because you’re not a writer or a techie? Or because you don’t like the way you look or sound on camera? Are you ready to get over those false beliefs and scale your capital raise in a matter of months? Patricia Sweeney is the Marketing Automation Consultant behind Ideally Media Group, a firm that helps entrepreneurs and business owners implement content marketing systems to attract more of the right clients and significantly increase their revenue. With 10-plus years of experience in online marketing, Patricia has been the secret weapon behind some of the biggest names in the digital marketing space. She is also part of the Michael Blank team, working hands-on with the students in our Platform Builders program. On this episode of Apartment Building Investing, Patricia joins me to discuss the limiting beliefs that stop syndicators from building an online thought leadership platform. She explains why you DO have time and why you CAN justify the investment, describing how our students are attracting new investors—sometimes even before the program is over! Listen in for Patricia’s insight on avoiding the biggest mistakes syndicators make in building a platform and learn how YOU can scale your capital raise through our Platform Builder Incubator. Key Takeaways The advantages we have around platform building in 2020 * EASY to get message to many through social media * Tech never more powerful or easier to use * Outsource tasks to highly qualified global VAs What limiting beliefs stop syndicators from building a platform * I’m not a techie or a writer * I don’t have the time * I can save money by doing it myself * I can’t justify the investment Why you DO have time to build a thought leadership platform * Delegate/automate production and distribution * Don’t have to become digital marketing expert Why you aren’t really saving money by doing it yourself * Time = precious resource, better spent finding deals * Focus on what drives business forward (raise capital) Why you CAN justify the investment in building a platform * Leverage content marketing to attract more investors * Reinvest 20% of revenue and SCALE UP capital raise The biggest mistakes syndicators make in building a platform * Thinking you only need a website * Not having a lead magnet * Not communicating with your list * Trying to do everything at once * Striving for perfection My advice on avoiding overwhelm in building a platform * Build core platform as foundation * Layer on one lead gen program at a time Connect with Patricia Sweeney Ideally Media Resources Register for Michael’s Live Webinar on 10/28 Register for Michael’s Platform Builder Incubator Join the Nighthawk Equity Investor Club Download Michael’s Free Report—What’s the Best Investment: The Stock Market or Real Estate? What Is a Platform & Why Should You Build One? on ABI EP235 Upwork Fiverr Podcast Show Notes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group
35 min
Sell or Die with Jeffrey Gitomer and Jennifer Gluckow
Sell or Die with Jeffrey Gitomer and Jennifer Gluckow
Sell or Die
The Female Entrepreneur Summit and Supporting Female Entrepreneurs with Renee Deluca Dolan
In episode 523 of the Sell or Die Podcast, we have special guest Renee DeLuca Dolan. Renee is the founder and President of Contempo Design + Communications, a company that provides visual branding, graphics design, and other creative ad services. In this episode, we are diving into the topic of supporting female entrepreneurs and the Female Entrepreneur Summit which is Renee’s very own brainchild. Renee shared with us her own journey of how she got into sales and how she founded her own company, and the story behind the successful summit for female entrepreneurs. Some key points we discuss include: * Renee shares her background story on how she got into sales and how she created her company * Renee also discusses what motivated her summit, the Female Entrepreneur Summit, and how she sees the need to create a safe space for women in business * Finally, Renee teaches us the key principles of entrepreneurship and sales and shares with us her own secret sauce to becoming a successful CEO Renee started as an employee in the corporate world, but the restrictions and limitations in that environment pushed her to build her own company. Renee quickly experienced the struggles of starting up her own business as a female entrepreneur. That’s why she decided to organize the Female Entrepreneur Summit. If you want to learn more about how Renee’s story unfolds, tune in to episode 523 of the Sell or Die Podcast. See you next week for another episode of Sell or Die! If you enjoyed this episode, take a screenshot of the episode to post in your stories and tag us, @jengitomer & @jeffreygitomer! And don’t forget to subscribe, rate, and review the podcast and share your key takeaways with us! CONNECT WITH JEN & JEFFREY: Official Website Jeffrey’s Instagram Jennifer’s Instagram Sell or Die Hards Official Group
35 min
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