Get Rich Education
Get Rich Education
Oct 19, 2020
315: How To Avoid Real Estate Scams with Garrett Sutton
44 min

Learn how to avoid getting ripped off from a: 

Vacant land scam

Foreclosure relief scam

Loan flipping scam 

Escrow diversion scam

Rental ad scam

Common consumer scams

More

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Asset Protection Attorney Garrett Sutton joins us for the fourth time on the show.

His new Rich Dad Advisor book, Scam-Proof Your Assets, releases this month.  

Scammers sell other scammers lists of names of gullible people.

Tell scammers that you want to share their deal with your attorney or CPA. They’ll run away.

Those that get scammed tend to be: less educated, vain, both young & old, crave a good deal, feel isolated, and are more impressionable.

Scammers are often someone you already know; they’re close to you.

Resources mentioned:

Garrett Sutton’s New Book: 

Scam-Proof Your Assets

Corporate Direct for LLC Formation:

1-800-600-1760

CorporateDirect.com

Report and track scams at:

ftccomplaintassistant.gov

Mortgage Loans:

RidgeLendingGroup.com

EQRPs: text “EQRP” in ALL CAPS to 72000 or:

eQRP.co

By texting “EQRP” to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

 

Real Estate Rookie
Real Estate Rookie
BiggerPockets
$500 Per Door on Multifamily Properties (During COVID!) with Thomas Tsitouridis
Thomas Tsitouridis is truly a jack of all trades. As a kid, he was used to helping on the project-management side of his parent’s 64-unit apartment building (taking out the trash, helping with tenants, and so on). He later realized that real estate investing would hold a special place in his future. Thomas later worked for a construction manager, then chose to start his own construction business, property management business, and long term buy-and-hold business.  Using the experience and cash flow from his construction business, Thomas found that he could amplify his money by buying deals and using his own team to do the construction and rehab. Now Thomas (and his partner) are buying multifamily deals, fixing them up, and getting sustainable cash flow, so they can retire early. Within his first year as a real estate investor, he has already learnt a lot. Thomas shares some great tips on tenant management, system automations, construction, and even financing so you can get better ROI earlier on!  In This Episode We Cover: * What to look for when partnering up with other investors * The importance of having a great broker on your team * Why you need to take action and lock down your first deal  * How to facilitate a rent increase while having empathy for tenants * How to split responsibility between you and your partner * Why ARM loans are a great choice for the BRRRR strategy * Managing tenants while controlling your own emotions * Why you need to ask the stupid questions to be smarter later on * How to start automating everything in your real estate business * And SO much more! Links from the Show * Real Estate Rookie Facebook Group * Ashley's Instagram * Tony's Instagram * Realtor.com * BiggerPockets Calculators * BiggerPockets Insights * Chase * Buildium * Tidying Up with Marie Kondo Check the full show notes here: https://www.biggerpockets.com/rookie39
50 min
Master Passive Income Real Estate Investing in Rental Property
Master Passive Income Real Estate Investing in Rental Property
Dustin Heiner
Investor Coaching: NEW Fee for Refinancing Your Home! 😡😡😡
There is a new fee that you will have to pay when you refinance a home! This is the mortgage refinance fee and it will cost you a lot of money! Get the Free Real Estate Investing Course: https://www.masterpassiveincome.com/freecoursep Join the Real Estate Wealth Builders Investor Membership https://www.masterpassiveincome.com/buildersp My Website: https://masterpassiveincome.com // WHAT TO WATCH NEXT How to Become Successfully Unemployed: https://youtu.be/wx5Ke9KVs58 Get Money For Investing in Real Estate: https://youtu.be/u4IY5UMDkrI How to Start Investing In Real Estate: https://youtu.be/fJVOeSgXZRQ How to Analyze a Real Estate Investing Deal in 5 Seconds: https://youtu.be/SqA1HcAW4EI How to Set Up Your LLC for Your Business: https://youtu.be/B9RzLkAZI9s How to Use Owner Financing to Make Loads of Money: https://youtu.be/qAOpCOWvj6Q //BEST REAL ESTATE INVESTING RESOURCE LINKS Find Off Market Properties: https://masterpassiveincome.com/propertysearch Get Business Funding https://masterpassiveincome.com/fundandgrow Great High Interest Savings Account: https://masterpassiveincome.com/cit Accurate Rental Rates: https://masterpassiveincome.com/rentometer Self Directed IRA for Real Estate Investing: https://masterpassiveincome.com/rocketdollar Learn more about Dustin and find resources to build an automatic real estate investing business: https://masterpassiveincome.com/ Join our free private Facebook group! https://masterpassiveincome.com/group 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!
9 min
The Remote Real Estate Investor
The Remote Real Estate Investor
Roofstock
Michael Zuber's Brilliant Strategy for Raising Private Capital
In this episode of Weekend Wisdom, Michael Zuber shares his strategy for employing private capital. Catch Michael Zuber on YouTube at One Rental At a Time. --- Transcription Tom: Happy weekend, everybody. This is another episode of Weekend Wisdom on The Remote Real Estate Investor. On today's episode, we have author and thought leader Michael Zuber, he is the author of One Rental At A Time, he also has a podcast and a YouTube channel. Definitely worth checking them out. And today we talked to Michael about his methodology of raising private capital. I love it. I think it splits the risk and the upside, he does this thing called a 6-20. And I'm gonna let him explain. Michael, let’s hear it. Michael: Yeah, so one of the things that if you're a real estate investor that is often thought of is the holy grail is raising private money. Now, I believe raising private money needs to be done correctly, I think you need to give it the respect it needs. There are lots of checks and balances. And you must understand the process, the rules of the road, all of that. But the beauty of it is once you understand private money, and you have a track record, you can orchestrate a private money package that works for your lender, which is a friend or family member, and yourself. And I've done two things in my career. And where I raised millions of dollars back in 2010. Just to set this up, people were frightened, and I was paying 10% interest for the entire purchase price of property because lending or savings rate was less than 1%. Much like it is today. People were so scared, but I had documented my success back then. It wasn't YouTube. It was actually a blog, which I wish I kept, but I let it go. But that blog allowed me to attract millions of dollars because I was documenting what we were doing buying. It was BRRRR before it was BRRRR, right? I'm sure Brandon Turner saw something I was doing because I was posting on bigger pockets all the time. And it became BRRRR right, buy a dump, fix it up, rented refi with, in my case, private money and do it again, which now he calls Burr. But now what I've done in the last couple of years is the market has changed. Real estate is sexy again, in 2010. Nobody wanted to touch it. But real estate sexy today. So what I found today is people aren't really interested in 10% interest, of course, they will take it. But they what they want is they want a piece of the action, right? They want part of the profit. So what I've done is I've devised a six and 20 program where I again, borrow 100% of the purchase price. And now instead of paying 10% interest, I'm paying six annualized, right, so it's 100 grand is 500 bucks a month. But what I do is I give him 20% of the profit. So when I'm out of a property in 120, or 160 or 200 days, they not only get monthly checks, because I pay monthly like a mortgage payment, which is the 6% part. But they will get 20% of the audited return, which when you annualize everything I've done have the millions of dollars I borrowed, everybody's got an annualized return to date, an excess of 20%. And again, it's all secured, right, your first trustee, your name down insurance just in case it burns down, I invest all the capital repairing it. So my dollars are at risk first. It's extremely safe thing. But the key to this program is I listen to the private money investors first. I didn't just create it, I went back to the people who lent me millions of dollars before and said, What do you want? And they're like, hey, that 10% was cool, but you cashed me out? Right? That was cool. I lasted but once you could get a loan you did because 6% is lower than 10. And I wish I was still getting 10 Well, like sorry, Yo, 10s Hi. I don't want to take 10 forever 10 times, but like, Well, we'd love to piece of the action. So I'm like, Okay, well, how do you feel about 20% because I'm doing all the work, I'm finding the deal. And they're like, cool. So I'm like, Great, well, let me give you 6% now because that's what I can get from banks. And I'll give you 20% of the upside, they're like Sign me up, let's let's do it. So the six and 20 was born and again borrow millions of dollars doing it. Tom: I love that model just in that you know the same value that you have with real estate because you're having the the ongoing cash flow, which is that 6% plus all the upside of the appreciation and all of that it's, it's beautiful, it's beneficial for you because you're coming in at 6% right away or anyone else that you know, using this similar type of a model. It's incredible, brilliant. Michael: I mean, I love to talk about it because of what the investor gets but I'm a nice guy, but I'm not not going to give the farm away. Right my investors annualized return is 20% My annualized return is over 80% right because all I bring in is a repair money in my monies in shorter and when we exit you know my return on repair money is often much bigger than the purchase because if I purchased it for 120 I might put in 30 or 35 so if i net 20 on the out and they get you know whatever that would be six plus the cash flow I mean yes they get great returns but let's be clear I'm winning also. Tom: Yeah, Emil: When you say exit is that usually cash out refi or was it sale? Oh, today's market would be a sale owner occupants are buying things hands over fist. So if they want to overpay I will let them Tom: Get out of the way. Yeah, Michael: Get out of the way. There you go. Tom: If you enjoy the episode, enjoyed the podcast, please subscribe and give us a rating and have a great rest today. Happy investing
5 min
Apartment Building Investing with Michael Blank Podcast
Apartment Building Investing with Michael Blank Podcast
Michael Blank
MB 241: What to Say to Potential Multifamily Investors – With David Kamara
What is the best way to approach the conversation with potential multifamily investors? How do you communicate the benefits of investing in apartment buildings over other asset classes and assure them that their money is safe with you—even if you’re new to the space? David Kamara is the Founder and Managing Director of Cape Sierra Capital, a multifamily syndication firm out of Ann Arbor, Michigan. He has 15 years of investing experience in the real estate space, getting his start with a portfolio of residential single family and duplex units before transitioning to apartment buildings and townhome communities. Today, David owns 200-plus units and serves as a mentor on the Michael Blank team. On this episode of Apartment Building Investing, David joins cohost Drew Whitson and I to explain how he coaches his mentoring students to approach the conversation with potential investors, describing how multifamily isn’t subject to the same risks as single family rentals. He weighs in on what helps aspiring syndicators believe in their ability to succeed, exploring how knowledge helps us visualize what’s possible but action is key in making it real. Listen in for David’s insight on getting your priorities straight and learn how underwriting to cashflow makes multifamily a good investment no matter what’s going on in the world. Key Takeaways What David’s been up to since his last appearance * Find competitive deals with good return for investors * Develop personal cashflow formula (free eBook) * Share knowledge through platform, mentoring What helps aspiring multifamily investors believe it’s possible * Knowledge (i.e.: understanding of loans, taxes) * Personality open to learning new things How COVID changed the way David talks to investors * Proactive in reaching out to investors * Open about potential for no distributions How COVID has impacted David’s underwriting * Assume minimal rent increases for next 3 years * Take on longer, fixed-rate debt (HUD loans) * Prepare investors for longer hold periods David’s advice around market timing * Don’t worry about things can’t control * Plan for same cap rate at sale, focus on cashflow * Choose markets with job diversity How David coaches his students on talking to investors * Explain cash-on-cash return and appreciation * In control of both factors with multifamily Why David invested in the Platform Builder Incubator * Eventually run out of investors as business scales * Attract high-income earners, serve more people * Accelerate growth (program tailored to syndicators) David’s plan to produce content consistently * Write blogs on common questions * Considering podcast as medium David’s advice for aspiring multifamily syndicators * You have to start (buy something) * Prioritize what’s important in life * Hustle to find deals Connect with David Kamara Cape Sierra Capital David’s Free eBook: Personal Cashflow Formula Resources Learn More About Michael’s Mentoring Program Register for Michael’s Platform Builder Incubator Join the Nighthawk Equity Investor Club David Karmara on Apartment Building Investing EP182 HUD Loans HubSpot Michael’s Health Crisis on Apartment Building Investing EP230 LoopNet Realtor.com Podcast Show Notes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group
42 min
Real Estate Coaching Radio
Real Estate Coaching Radio
Real Estate Coaching Radio
Podcast: Top 5 Reasons Why Some People Are Always Mindfully Motivated | Tim and Julie Harris
As we round the bend on 2020 you are probably experiencing a mixture of emotions. This has been a strange year for everyone and its perfectly natural and normal to feel overwhelmed...and maybe overstressed. When you listen to part 6 of this weeks series you will self discover the clear and obvious path forward. Here are the points from today's show..starting with point #9.. 9) Daily brain dump. - Take a minute to find and clean out all your self-deprecating, negative thoughts. As you do this, you will find yourself feeling refreshed and invigorated with renewed energy to take on the world. Don’t believe it? Try it. - Start now. 10) Keep a journal. BestSelf.com - Stop comparing yourself to others while on your journey. Compare yourself to the person you were yesterday. 11) Media free life. Also, consider people purge. - Don't trust people who tell you to trust the media. 12) Control your environment. Your subconscious mind is always working, thinking, plotting, worrying...if you live in an environment where piles of crap dominate of course you are going to feel overwhelmed. Your physical environment is a direct reflection of your internal thinking about yourself. 13) Increase sleep, cut the booze. Thank-You For Your Continuing Support of Tim and Julie Harris' Podcast, Real Estate Coaching Radio. This podcast is recognized as the #1 Daily Podcast For The Real Estate Industry. With Nearly 10 Million Downloads (and Listens) from over 50 countries Real Estate Coaching Radio Is The Trusted Podcast For Real Estate Professionals All Over The World. Text Me: (512) 361-5121 Schedule A Free Coaching CallListen on iTunesListen on Spotify
52 min
BiggerPockets Podcast : Real Estate Investing and Wealth Building to Help You Get Bigger Pockets
BiggerPockets Podcast : Real Estate Investing and Wealth Building to Help You Get Bigger Pockets
BiggerPockets.com : Joshua Dorkin and Brandon Turner
BiggerPockets Podcast 421: Family Over Everything: How Life Forced BP Founder Joshua Dorkin to Reevaluate His Choices
Many avid members of the BiggerPockets forum, listeners to the podcast, or readers of our articles may know our founder, Joshua Dorkin. What you may not know is Joshua’s journey in founding, building, scaling, and finally leaving BiggerPockets. It was a hard decision for Joshua to leave, but thanks to his amazing team, he was able to (even during a time of tribulation in his personal life). You’ll hear how Joshua was cranking out 100 hour weeks, working 7 straight days, for the first 6 years of BiggerPocket’s existence. He later transitioned to building a team, starting with the BiggerPocket Podcast’s very own host, Brandon Turner. This later snowballed into more hirings, with the BiggerPockets growing faster and faster, and being able to scale larger and larger. Just at the time when things were starting to go from big to bigger, Joshua had to take time off to take care of his daughter’s medical emergency. This caused a shift in Joshua’s reality, so he dropped everything. This keynote speech goes deep into what really matters most. It’s not money, it’s not success, but it’s something that matters even more: fulfillment and family. Check out the video on our Youtube channel, and be sure to give Joshua a follow on Twitter at @jrdorkin.
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