Truck Talk 26: Should I Sell Carrot? + The Tugboat vs Lighthouse Changing the Game For Me
Play • 39 min
What do you do when monetary goals don’t make sense any more? The past couple years have forced me to question my “why” more closely than I ever have. With options to get out of Carrot and be set for life, why the heck do I keep showing up to work every day? Great question. I’ll tell you by way of the “Tugboat VS Lighthouse” concept. I’ve built a handful of businesses, done a handful of challenges, but this has changed the game for me mentally, more than anythign else in a long time. Let’s dive in.  75 hard: My 5 non-negotiables in Biz & life: Join me on instagram:
GSD Mode
GSD Mode
Joshua Smith
New Realtor Sells 25 Deals 1st Year, 47 in 2nd Year and Is On FIRE | Interview w/ Derek Timmons
Derek Timmons is a real estate agent who out the gate has been on FIRE! As a brand new real estate agent, Derek was able to close 25 deals during his 1st year while working only part-time on the side and still holding down a full time job. After making the switch to full time in his 2nd year, he was able to close 47 deals in 2020 in the midst of the coronavirus pandemic, totaling over $250k in commission income. Now in his 3rd year, he is on track to blow that number out of the water and continues to absolutely crush it!     In this GSD Mode Podcast Interview, Derek discusses with host Joshua Smith EXACTLY how he has been able to find success as a new realtor and how he got to where he is today in such a short amount of time, what he believes is the key to having a high conversion rate, the insane value that comes with developing healthy business relationships with money lender, builders, investors, etc.., he details his online social media presence and talks about how important it is for real estate agents to be online in this day and age, and so much more. Don’t miss this one, hit play!       00:00 - Introduction   6:00 - What brought you into real estate in the first place?   10:00 - Transitioning from a part time agent to a full time agent while supporting his family   14:20 - What are some things you did when you switched to being a full time agent?   18:30 - What helped you almost double your production in your 2nd year?   21:00 - What do you think has been the key to having a high conversion rate?   26:00 - How do you approach developing new business relationships?   30:45 - What has been the most valuable relationship you have made as a real estate agent?   34:00 - What does your online presence look like on social media? 37:30 - Google Ads and website tips   40:00 - False reviews on Google and other services   42:00 - How to ask and vet reviews from clients   46:30 - How are you able to stay consistent with your schedule?   52:00 - The top priority for Derek to do 1st is to build your database   55:30 - Being so new and having no idea what he was doing   57:00 - If you could give your younger self 2 pieces of advice, what would that advice be? 1:01:00 - Where do you see yourself taking your business? 1:02:50 - Where to learn more about Derek       Derek’s Contact Info:         📚  For a TON of FREE Tips, Methods and Strategies to help you DOMINATE Your Real Estate Business, make sure to snag my new 100% Free Digital Book (it will be emailed to you within seconds) - Joshua Smith's Free Book "DOMINATE Your Real Estate Business - Top Tips From a Top Producers" go to:     👉 Looking for help in your Real Estate Business, Check out Joshua Smith's Coaching Program "Mastery Bootcamp" at:     👉 Want to learn more about Joshua Smith's Coaching Program, see if the program is a fit for you, etc... Schedule a 100% Zero Pressure/Zero Hassle Discovery Call, Click Here:     👉 "Triple Your Real Estate Business In 90 Days" [FREE In-Depth 3 Hour Online Masterclass with Joshua Smith] -     GSD Mode Podcast Sponsors/Supported By:     Perfect Storm (The most Effective and Affordable Real Estate CRM in the Real Estate Industry) -     Mastery Bootcamp (Joshua Smith's personal Coaching/Mentorship Program) -     REO Mastery University (REO and Short Sale Real Estate Agent Training) -     Connect With Joshua Smith On Social Media:     Facebook -     Instagram -
1 hr 4 min
Real Wealth Show:
Real Estate Investing Podcast
Real Wealth Show: Real Estate Investing Podcast
Kathy Fettke - Real Wealth Network
Real Estate Investing: Raising Money Through Real Estate for Yourself and for Charity (Audio)
Building wealth is something that we do for ourselves and our family, and for some, it’s also a way to “give back” to people in need. In today’s episode, we’ll hear from someone who started his real estate career so he could raise enough money to help orphans around the world, as well as his family. He’s truly a good, good soul. If you think investors are more self-serving than that, this interview might change your mind. Our guest, Whitney Sewell, became a federal agent after serving in the military at a very young age. When he got married, he and his wife, Chelsea, decided to adopt at-risk children but realized they needed more time and money to fulfill their charitable dreams. Whitney had heard that other people could build wealth through real estate, so he thought he could too. He and his wife bought two triplexes. They also lost a lot of money on those initial investments but learned a lot, as well. Today, they personally own more than 250 units and their company, Life Bridge Capital, has invested in more than 900 doors worth more than $120 million. Inspired by their desire to help orphans and their families, the Sewells founded the Life Bridge Foundation, and donate 50% of their profits to the foundation. Whitney is also the host of the Real Estate Syndication Show. Links:
22 min
The Ninja Selling Podcast
The Ninja Selling Podcast
Garrett Frey and Matt Bonelli
Making Your Real Estate You with Luca Alboretti
Next up in Matt and Garrett’s series featuring special guests is the creator of the @actuallyagents real estate meme page, Luca Alboretti. After a few years of being in real estate, but lacking a real passion for it, Luca has gone on to achieve huge success by fully committing to making friends and injecting his own hilarious personality into his work. Today, you have the opportunity to learn exactly how he made this all happen, and how he found joy and passion in his work along the way. Luca shares the beginning and growth of his meme page, the similarities between this work and his real estate work, the importance of perseverance, and the role that the relationship process played in throughout. He also discusses what he has brought from his page into his business, his excitement about the growth of the referrals aspect and bringing on new people, and the importance of being flexible in taking advantage of opportunities as they arise. As our hosts point out, Luca’s story of finding success and happiness by being genuine and authentic has inspired so many agents, and the same will undoubtedly be true for you as well as you listen in to this informative and entertaining episode today. Episode Highlights: * The start and growth of Luca’s meme page * The similarities in his meme page and real estate work * The importance of persevering * Building the page through the relationship process * What he brought into his business from the page * What he’s excited about now * Moving beyond memes to referrals * How he has inspired other agents * Bringing new people into Luca’s business * Taking advantage of opportunities Quotes: “The truth is sometimes the funniest thing that’s going around.” “Probably the biggest growth explosion we had was during this quarantine.” “When you’re running these pages, you’re looking at the engagement.” “The page has bled into my real life and vice versa.” “You just have to stick with stuff.” “Real estate is fun again because I get to be myself.” “If I make some people angry, then the ones who care don’t matter, and the ones who matter don’t care.” “If I have one regret, it’s that the bigger the page gets, the less of that person-to-person interaction I deal with.” “Really, the jumping off point was just making as many friends as possible.” “I started learning and it really changed things.” “It’s the Monday Guy!” “It’s a net positive feeling.” “God bless the haters.” “I don’t deal with people who don’t have a sense of humor…the people I end up dealing with are just a joy.” “This is a lot of work, but, again, if the passion’s behind it, it’s okay.” “You’re being as genuine as you possibly can be.” “You’ve just got to ride the wave, because the Universe…doesn’t care about your plans at all.” “If you or anyone you know is looking to buy or sell real estate – commercial oriented – please contact me.” Links: Email us at Ninja Selling @ninjasellingofficial Ninja Coaching: @ninja.coaching Garrett @ninjaredding Matt @matthewjbonelli Connect with Luca: Instagram and Twitter: @actuallyagents
36 min
Apartment Building Investing with Michael Blank Podcast
Apartment Building Investing with Michael Blank Podcast
Michael Blank
MB 244: A Hands-On Approach to Asset Management – With Daniel Simpson
In real estate school, they teach you that the money is made when you buy. But that just isn’t true for apartment buildings. Yes, you have to buy right. But in the multifamily space, the money is made in the execution of your plan to increase revenue and reduce expenses. And the asset manager is responsible for making sure that happens. Daniel Simpson serves as Asset Manager at Nighthawk Equity, the investing arm of The Michael Blank organization. He has nearly 30 years of experience in multifamily, residential and commercial property management, developing an expertise in strategic business forecasting, budget allocation, complex data analysis and property financials. Daniel has an impressive track record of acquiring, renovating and repositioning C-class value-add properties in as little as 18 months. On this episode of Apartment Building Investing, Daniel joins me to share his hands-on approach to asset management, describing what he does on his monthly site visits and how he helps property managers optimize revenue and reduce expenses. He walks us through the metrics he uses to identify property management issues and explains why all problems come down to people. Listen in for Daniel’s insight on the limited role property managers should play in construction projects and learn when you should consider hiring a full-time asset manager! Key Takeaways Daniel’s insight on the fundamentals of asset management * Ensure investors’ goals met, returns on target * Provide guidance to property managers How often Daniel meets with property managers * Speak with regional manager once/week minimum * Unannounced visit to site managers once/month When to take a hands-on approach with property managers * High turnover rate * Higher than normal vacancy rate * Lack of success in leasing units * Collection issues * Move-outs not entered timely Daniel’s take on why all problems come down to people * Tenants rent from STAFF vs. apartment itself * Asset manager’s job = find breakdown in system What metrics Daniel watches closely as an asset manager * Consistency in NOI * Occupancy (physical and economic) * Delinquency * Live PNL * Closing ratio How to identify problems with property management * Look at comps and communicate that with staff * Secret shops to evaluate leasing staff’s performance Daniel’s process for optimizing a multifamily business * Start with maximizing revenue (add $5 to $10/unit) * Minimize expenses next, reevaluate contracts How Daniel thinks about managing expenses * Ask questions about potential overspending * Audit line items to keep property managers honest What Daniel does on his monthly site visits to a property * Walk vacant units, talk with property manager * Visit with leasing agents and maintenance staff * Verify that move-in files match what’s in system Why property managers should not handle construction * Distraction from filling units and collecting rent * Better to hire GC or specialist (local or in-house) The role a property manager should play in construction * Go to early meetings, input on scope and timeline * Hand GC keys needed to carry out project What an average syndicator can do if they can’t afford a GC * Use construction manager (part of management co) * Build 5% in budget for specialist to oversee project When it’s time to hire an asset manager for your business * Depends on skill set of investors in joint venture * As soon as you can afford it Connect with Daniel Simpson Nighthawk Equity Email Resources Learn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club CLASS Leasing Podcast Show Notes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group
44 min
The Remote Real Estate Investor
The Remote Real Estate Investor
Considering A Private Loan? Here's A Crash Course On Private Lending
In this episode, Nate Trunfio shares a wealth of information on the domain of private lending. Find Nate at --- Transcript Tom: Greetings, and welcome to The Remote Real Estate Investor. On this episode, we have Nate Trunfio of Lima One Capital. This episode, we're going to cover a lot of materials focusing specifically on portfolio loans. All right, let's do it. Awesome. And welcome to the podcast Nate. Thanks for jumping on. Nate: Hey, thank you guys for having me. honored to be here. Tom: All right, so before we get into the main content, let's start with a little bit about your background. Nate: Sure, yeah, I'll try not to bore too many people here. My career in life has been spent in all things real estate related, and specifically financial services and lending, younger ish type of guy. So graduated college in the mid 2000s, and got right into the residential mortgage lending world sort of conquered a lot of that through becoming a top sales producer, than stepping into the management came very early on. So some great learning lessons as a leader and manager, 24 years old, managing people twice plus my age, and then really just continued on that path through just growing and climbing the ladder. The residential lending space serves a huge need, but it's a lot of red tape and a slower sales cycle than what I was looking for. So I jumped out of residential lending into alternative b2b, ran to different private debt funds there that led to another big need of small businesses in dire need of capital, especially today in this COVID world. And then I found my happy home and private lending over the last four years was the president of a smaller company, prior to now being at Lima One where I run all the sales and marketing and throw my hat in the ring of just a lot of other areas just to help the business grow. And my sort of inner inner driving question is always How can I make myself others people process and things better around me, and that's what just keeps me ticking every day and has led me throughout the journeys and stops in my career. Michael: I feel like we're about to interview a Swiss Army Knife of residential real estate investing, this is gonna be super exciting. Tom: So when you started, was it more in like traditional residential lending versus private capital? Nate: Exactly, yeah. So learn through the red tape and all the rigmarole but you know, it's important in that world to be very knowledgeable and all the nuances if you want to be successful. But yeah, so when I was getting into financial services, it was very much a refi. Boom. So it was mainly focused on refinances to homeowners predominantly their primary residences, certainly to del purchase as well, with that got me you know, introduced to financing and real estate in general. Michael: Were you involved in that space during the 08-09 housing crisis, Or did you exit prior to then? Nate: That's when I got it right around there. So it was a great welcoming to all things, real estate, Michael: And you still managed to become a Top Producing salesperson during that time? Nate: Yeah, man, look, I certainly don't have the looks for those on video. I'm not, I'm not the smartest guy in the room. But my nack is I just I grind. I work hard. You know, I think that's the lesson to anybody younger in their career. You know, you don't have to have all the skills, knowledge and experience to be a top producer and anything. You just have to work your tail off. Michael: Yeah, that's great advice. Tom: That's fantastic. So let's learn a little bit about more about Lima one right now. So I've been to several conferences and somewhat familiar but for audience who have not heard of Lima, one capital? Nate: Yeah, absolutely. So Lima, one capital is a premier private lender in the top three to five in the nation, we lend in 46 different states, our sole purpose and mission is to provide financing solutions for real estate investors, because we know that the residential realm just doesn't suit investors who need to move quickly. They need different products than you know, traditional financing. And so that's exactly what we provide. So we lend on all things related to different real estate investment strategies. It's fix and flip new construction, single family rentals on a single asset level as well as large portfolios. And then last but not least also multifamily. You consider us to be a private lender, most people will call it hard money. although in reality, I'd liken it to a lot more soft money. It's not hard money like it used to be. It's become somewhat institutionalized. And at least by that I mean that Wall Street has has an appetite for it, which is allowed us to drive down the cost of capital in terms that we provide out to investors. So you know, we are a very big player in the space and again, we help numerous different types of real estate investors, whether it's their first deal, they do 100 deals a year, they buy, you know, 200 unit multifamily complexes to five unit complexes. I mean, no matter what shape and size you are, no matter what your investing strategy is we should have a financing solution for you. Michael: Awesome. is one of the 46 states Alaska or is that on the no go list? Nate: That is on the no go list, if I recollect. Tom: Contiguous. Michael, you gotta be contiguous. Michael: I know. I know. Nate: We're in Hawaii though. Michael: Oh, yeah? Oh, man. All right. Let me know when you guys are up in Alaska. Nate: Will do yeah, Michael: I'll be your first client! Nate: We'll fix and flip some igloos. Tom: I think you kind of answered my next question I was going to get into is the customer profile that you guys serve. So but it sounds like all over the board from individuals to funds, if you guys have like predominantly like more in one area are really pretty spread all over the place. Nate: Yeah, I mean, we're pretty diverse. Our core client is somebody that sort of graduated to real estate investing full time. But it's not to say that we don't finance a lot of people that are doing it is sort of a second job or supplemental income or creating additional cash flow on top of their W2 jobs, you know, our products in a process or they're designed to move quick, without a ton of paperwork, we don't collect tax returns on any of the products that we have, just to put that in perspective. And certainly, that's a mainstay in residential lending. So we look at things a little bit differently. And we're customized to make sure that we can provide investors with what they need from a product perspective, but just as importantly, a process as well. Tom: How about if I'm buying through a self directed IRA, and with that type of a product? I can't get traditional lending, because I'm buying it with LLC? Do you guys do a lot of work with that type of customer? Nate: The short answer is yes. The lending to somebody who's purchasing through an IRA can be a little convoluted we, we absolutely have solution for it. But yeah, I mean, that that's definitely one of the corners of our customer segments that we service, most of the time you find people with that sort of investing strategy to be, you know, have a W2 job or retire from their W2 job in our investing is, you know, for long term cash flow purposes. So we absolutely service that as well, as you know, people that are using combination of that strategy of IRA, verse raising their own private money for their own equity, among many other different types of categories of our customer profile. Michael: You mentioned that you guys are private capital lenders, but also been classified as hard money. What would you say is the difference between the two? Because people are categorizing number one, as both? You know, should somebody go Google private money? Or should they go Google hard money? How do people know where to go look for those types of d…
42 min
Real Estate Investing for Cash Flow with Kevin Bupp
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
#311 Commercial Real Estate, Retail, and So Much More! -with Jay Several
Jay Several is a real estate investor and developer. Jay is the Principal of Several Properties Group, a Cherry Hill, NJ-based developer and asset manager of value-add retail properties. Several Properties develops and manages properties in Pennsylvania, New Jersey, and New York. Jay is involved in every aspect of the development process for each property including location logistics and metrics, acquisition, financing, entitlement, leasing, construction, tenant fit-out, and asset management. Since 2007 Mr. Several has been totally responsible for creatively re-developed vacant, obsolete, and abandoned properties into vibrant retail assets valued at over $ 40.0 million. Quotes: “Everything is about relationships. You can feel like you know what you’re doing, but to be able to confirm that, you have to have lots of friends in the industry. People that know you, they know what you can do. And when they have something, they will come to you.” “Listen, watch, and do as much homework as possible. Start small and think big. If you have a lot to lose, put it on the line.” Highlights: 3:38- Jay tells us about his background, how he got into real estate, and what he does 6:13- Jay talks about what point he made the transition from family housing to commercial projects 11:56- Jay shares how he knows he has found a strong candidate 17:30- Jay tells what his typical business model looks like 21:06- Jay gives his opinion on if new opportunities will arise from the pandemic Guest Website: Learn About Investment and Partnership Opportunities with Kevin and His Team
41 min
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