Real Estate Mindset: Reaching Your Goals by Overcoming Fears & Beliefs that Limit You (Audio)
Play • 22 min

Today's guest started off as a pharmacist who wanted to create passive income so he decided to invest in rental properties. Ketan Patel didn't have a lot of money, but discovered that a shift in mindset would help him get rid of the fears and beliefs that held him back. He now helps other real estate entrepreneurs as a transformational coach.

www.RealWealthShow.com

 

Wealth Labs with Garrett Gunderson
Wealth Labs with Garrett Gunderson
Garrett Gunderson
148. How to Buy Cryptocurrency for Beginners (UPDATED Ultimate Guide) / Ask The Money Nerds
Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at https://askthemoneynerds.com and watch for our response on an upcoming episode! In this episode of Ask the Money Nerds, Garrett, Amanda and a new Money Nerd, Logan talk through how to get started in the crypto space. The idea of using cryptocurrencies and Bitcoin in our daily lives is starting to become more commonly discussed across the globe. Is it time for you to consider getting into one of these currencies? And if so, how do you get started? Today, our guest is crypto-expert, Logan Sunday. He gives you the scoop on getting started with crypto and how you can dip your toe into the world of crypto if you are new to the space. *** If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews! Check Out Garrett's Books: Killing Sacred Cows - https://amzn.to/2lMbX1i What Would Billionaires Do - https://wlth.co/yt-garretts-billionaire-book Connect with Garrett: Facebook: https://www.facebook.com/garrettbgunderson Twitter: https://twitter.com/GBGunderson Instagram: https://www.instagram.com/garrettbgunderson LinkedIn: https://www.linkedin.com/in/garrett-gunderson-651359b3/ Website: https://wealthfactory.com/
14 min
Master Passive Income Real Estate Investing in Rental Property
Master Passive Income Real Estate Investing in Rental Property
Dustin Heiner
Investor Coaching: Get Out Of Debt The Smart, Easy, And Fast Way
It doesn't have to take you years to get out of credit card debt. Here is the strategy I used to get out of debt fast and THEN invested in real estate for passive income. Get out of debt and use those credit cards to your benefit. The debt snowball is the best way to get out of debt fast. 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!
8 min
The Remote Real Estate Investor
The Remote Real Estate Investor
Roofstock
Simple and Effective Organizational Tips For Real Estate Investors
In this short episode, Tom and Michael share their file organization strategies to ensure pain-free access to all the documents you might need as an investor. --- Transcript Tom: Greetings, and welcome to The Remote Real Estate Investor. Join with me today is, Michael: Michael Albaum. Tom: On this episode, we're going to be talking about the folder structure we use to organize documents. So a very pragmatic and practical weekend wisdom. All right, let's do it. As I mentioned, this is a more practical episode of weakened wisdom. And this content is brought to you by Roofstock Academy. This is directly out of some of the coaching session conversations that we have some of the templates that we have, we're organizing documents. So this is a great kind of sneak peek behind the veil of some of the content and type of coaching stuff that we do within Roofstock Academy. Excellent. So whenever I buy a new property, this is the folder structure that I like to use within each property, a folder for tracking or having ready on hand the purchase and sale agreement, the tax bills that come in any marketing collateral, like photos that was perhaps collected during the inspection that I can have on hand to share with my local property manager from the transaction, a copy of the lease and historical leases, the closing statement, the insurance documents, as well as the loan documents and the property management agreement. So a bit of a mouthful. So Michael, any thoughts or other comments on here? Michael: Yeah, totally. So I think that's a really great way to organize things. So what I do, and I just pulled up my one of my folders, and I'll kind of give everybody listening, a walkthrough of what that looks like. So because I purchased mostly inside of LLCs. And I'll often form a new LLC for property purchases, I'll have all of the LLC documents. So first off, on my desktop, I have something called real estate. And then inside of real estate, I have all the LLC folders. And then within the LLC folder, I have the formation docs for that LLC. So the operating agreement, the articles of incorporation, Articles of Organization, all that all the formation documents, then I'll have property specific information that I can drill down to in property folders inside of the LLC folder. And so like you, I have the closing statement, all of the marketing materials for that particular property, all the due diligence materials for that particular property, and I'll call that property docks. And then I break mine down into, I have additional folders where I'll have that year, and then insurance and that year and taxes. Because those things aren't static, they're not constantly evolving, but on an on between year to year there, they can be changing. And so I know that if I have to go pull my most recent property insurance Doc, I'll go to 2020 property insurance. And then I can also track it from 2020 2021 to 2022 and see what's been changing and can kind of compare and contrast those quotes. And then also have folders. I have one right now that I'm working on a refinance. And so I have a refinance folder. So all of the things that I need to refinance that property are going into that folder. So bank statements, income statements, tax returns, all that kind of stuff goes there. And then if it doesn't work out with this particular lender, if I go to refinance with another one, I've got most of the stuff I need there, I'll just have to update bank statements and brokerage account statements, all that kind of stuff. So that's kind of how I have mine broken down. And then I'll put things in multiple places. I was just joking with my wife the other day, I'm a bit of a hoarder. I'll admit that Tom: Digital hoarder Michael: Physical and digital hoarder, yeah, by all means. Tom: So you need some Marie Kondo in your life, does it bring you joy? Michael: Well, we just spent like, all weekend, this past weekend, getting rid of stuff. And that was a pretty liberating feeling. So I've tried to do that digitally as well. But so I'll put things in multiple places. Because I know if I can't find it, I can just go to a couple different folders and find it. So like, I have another folder that I titled taxes. And again, I'll put the year so for my 2020 taxes, I had a folder where all of the things I knew were going to be part of my tax return or needed for my tax return, I'll put there like property tax statements like insurance documents that show how much premium was paid. And so all kind of double dip and put things in a number of different places for myself. But I think that was a really long and drawn out explanation. Tom: No it was great. Michael: I have those same documents on hand that you do the leases and the invoices for that property, essentially, any document associated with that property will be at least in that property folder, and it might be in a subfolder in and of its own. Tom: Yeah, you know, and if you don't want to get you have like a million different folders. Another way to organize this just to make sure that you have all the documents because sometimes it could be kind of silly having a folder with just one document in it is to have a spreadsheet and then a checklist verifying that those documents are in sort of the the single folder. So a couple of other documents that we left out that we could include is that you have a warranty a home warranty, you are going to want that easily accessible for, you know, hopefully you don't need it. But if you do need it, other ones is major work that was performed perhaps an invoice that's going to be helpful come tax time. And you know if perhaps something, let's say you have work done on a water heater, and then a month later, there's some issue with the water heater, right? So that that kind of gives you some ammunition of going back to the company that did the work saying like, Hey, I just paid for this. Why am I you know, why is it not working? So having that stuff it pays it pays to not be a digital hoarder, but be digitally organized. Being a digital hoarder just makes it take longer. Michael: Yes, it really does. It really does. And something that I've done I know I've talked about in other episodes is I've got a master Excel spreadsheet with every property that I own inside of every LLC. So I'll have the LLC name at the top, and then the properties in that LLC. And just all of the expenses that I pay personally, are logged in that sheet. And so I've got a record of them on the property Doc, if somebody needs to see that I've got a record for myself to know that I have to give this to my CPA at the end of the year. And then I also have a record showing kind of globally, what that picture looks like, how much did I if somebody said, Hey, Michael, how much you spend on insurance in 2020, I could spend about three minutes and tell you just totaling up from all the different LLCs how much I spent. So that level of organization is helpful for me, I find that to be really useful. Not everybody will and everybody can, I would encourage everyone to develop their own system, because not everybody learns the same, not everybody works the same. So figure out what works for you. Maybe that's QuickBooks, maybe that's paper documents, you know, a filing system that works for you. So play around with some different stuff. But I would definitely say develop really good habits at the onset, when you've got one or two or three properties because those systems are going to be you're going to rely on them a lot more as soon as you start to scale. Because it does become a little bit more cumbersome if you haven't developed something from the onset. Tom: And a lot of these templates is a great benefit in Roofstock Academy, and that we have a lot of these kind of pre baked templates for, for this type of stuff, the spreadsheets and, and all of that great stuff. Go ahead Pierre, you were saying… Pierre: The photographe…
10 min
Real Estate & Financial Independence Podcast
Real Estate & Financial Independence Podcast
Chad Coach Carson
#148: The Mad Fientist on Pursuing Your Dreams After FI
Episode #148 - Brandon Ganch (aka the Mad Fientist) saved his money and left a career as a computer programmer in his early 30s to pursue a life of early retirement. In this interview with Coach, he shares some of the highs and lows of his journey (including disillusionment & depression). He also shares some tips on how he would have done things differently and how to build a life around learning and skill development, which currently means pursuing his dream of becoming a musician (he's even releasing an album! see link below). Links from the Mad Fientist: Pre-order the album - https://www.madfientist.com/album Mad Fientist's investing portfolio - https://www.madfientist.com/my-portfolio/ Ultalearning podcast - https://www.madfientist.com/scott-young-interview/ Emotional ups & downs of FI journey - https://www.madfientist.com/happiness-through-subtraction/ Withdrawal rate article - https://www.madfientist.com/safe-withdrawal-rate/ 💲RENTAL PROPERTY ANALYSIS🏘️ My online course teaches EXACTLY how I run the numbers and confidently analyze rental properties that produce cash flow and build wealth (includes my spreadsheet):https://www.coachcarson.com/RPA __________ 🎧SUBSCRIBE to the podcast for more episodes about how to achieve financial independence and do what matters using real estate investing! https://coachcarson.com/podcast ---------------- ▶️WATCH my YouTube channel - Coach Carson TV - for tutorials, tips, strategies, and interviews https://www.youtube.com/user/CoachChadCarson?sub_confirmation=1 ---------------- 📋 GET MY FREE REAL ESTATE INVESTOR TOOLKIT https://coachcarson.com/reitoolkit ---------------- FOLLOW ME ON INSTAGRAM 📸 https://www.instagram.com/coachcarson1/ ---------------- READ MY BOOK ON RETIRING EARLY 📚 https://www.coachcarson.com/retirementbook ---------------- 👋👋 SAY HI ON SOCIAL https://www.facebook.com/coachchadcarson/ https://twitter.com/CoachChadCarson
1 hr 9 min
BiggerPockets Business Podcast
BiggerPockets Business Podcast
BiggerPockets
90: How Solo Entrepreneurs Can Improve Their Products and Businesses with Ben Foster
You may own a small business, some rental properties, or are just tinkering with a new idea. Regardless of where you’re at in your entrepreneurial journey, you’re most likely trying to make something that will not only resonate with customers, but allow them to solve a problem in their life. So how do you make a product that accomplishes this to the fullest extent? Today we talk to Ben Foster, founder of Prodify and Chief Product Officer at WHOOP. Ben has been in this space for a long time, working with big names like eBay and Opower. After his initial success at corporate he founded his consulting firm, Prodify and has since then worked with 70+ different companies all tackling a common goal: make a great product. If you’re just starting out in your business, you may think the best course of action is to tack on as many useful features as possible into one product, but Ben warns against this. Companies that tend to do well with products are the companies that have a core competency and then build out from it. Great products also take market input from the customers that matter most. That doesn’t mean only the top 10% of users for an app, that means the bulk majority of customers who use the app. This is where many product teams get it wrong, and as you’ll see in the interview, there are a lot more caveats in product management than originally meets the eye. If you’re interested in product marketing, engineering, management or anything else related to building a great product, check out Ben’s book Build What Matters and of course, listen to this episode! In This Episode We Cover: * What product management really is (and what the goal should be for teams) * The difference between products for sale and product management * What makes a great product team  * How to achieve (and go after) product market fit  * When to release the initial version of your product * Which opinions matter most when collecting customer data  * Building an infrastructure so products can succeed from the start * Bad product traits to avoid when building out your product * And So Much More! Links from the Show * Opower * E-bay * Dropbox * Mint.com * Intuit * WealthFront * Microsoft * Amazon Hello * Polar Watch * Garmin * LinkedIn * Tesla * LeapFrog Check the full show notes here: https://www.biggerpockets.com/bizshow90
1 hr 10 min
Apartment Building Investing with Michael Blank Podcast
Apartment Building Investing with Michael Blank Podcast
Michael Blank
MB 249: Increase Your NOI Through Cell Tower Investing – With Hugh Odom
The most successful real estate investors find creative ways to increase their NOI either by adding amenities for residents or reducing expenses. But there is a new opportunity for property owners that you may not be aware of. What if you could earn more money by leasing out a portion of your building for a 5G cell phone tower? Hugh Odom is the Founder and President of Vertical Consultants, a telecom consulting firm that has advised major corporations such as Walmart, McDonald’s and Disney, as well as government institutions like the Department of Veterans Affairs, the New York Housing Authority and the United States Postal Service. Hugh served as an attorney for AT&T for 11-plus years, and today, he leverages his expertise in the telecom industry to help real estate investors earn additional income through cell tower leases. On this episode of Apartment Building Investing, Hugh joins cohost Garrett Lynch and I to explain why the cell tower industry is like oil 100 years ago, discussing what is driving the need for more cell towers and how lucrative a cell tower lease can be for investors. Hugh shares the do’s and don’ts of negotiating a cell tower lease, describing how it differs from a real estate transaction and what Hugh’s team does to help property owners with the process. Listen in to understand why cell tower investing is a safe bet for the long term and learn how YOU can take advantage of the opportunity to be a cell tower landlord! Key Takeaways Why the cell tower industry is like oil 100 years ago * Long-term agreements to lease land from property owners * Cell companies reach out if property in right location What is driving the need for more cell towers * 5G technology requires additional infrastructure * Densification makes service faster, more instantaneous * From 400K to 1.5M cell sites by 2025 The do’s and don’ts of negotiating a cell tower lease * Don’t treat as real estate transaction (e.g.: market rate) * Do determine value provider will get from space How lucrative a cell tower lease agreement can be for investors * Typically increases value of property by $1M * Renegotiate contract as provider’s revenue from site goes up How Vertical Consultants helps property owners * Level playing field (understand value you’re offering) * Source leases for large commercial property owners How to take advantage of this opportunity in cell towers * Buy properties with existing towers or rights to cell towers * Bring experts in to renegotiate lease How 5G towers differ visually from traditional cell towers * Traditional tower = 150 feet tall, up to 5K ft2 * Traditional rooftop antenna up to 500 ft2 * 5G tower = 50 ft2 with small antenna box The opportunity to become an operator of cell towers * Pay property owners in dead spots for right to lease * Buy for long-term cashflow or flip Why cell tower investing is a safe bet for the long term * Similar to highway system (infrastructure, not technology) * Change out equipment as tech improves Who Hugh serves through Vertical Consultants * Property owners with existing agreements * Owners who’ve been approached by cell company * Hotels, self-storage and shopping center developers Connect with Hugh Odom Vertical Consultants Resources Join the Nighthawk Equity Investor Club Learn More About Michael’s Mentoring Program American Tower Crown Castle SBA Communications Podcast Show Notes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group
41 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 435: Why Successful People HATE Losing, But Aren’t Afraid to Lose with Scott McGillivray (Part 2)
Scott McGillivray is back for this second part of his amazing interview. Last time we talked about the nitty gritty of Scott’s investments, how he started to acquire houses, and building his empire. Now we’re touching more on the mindset of what makes Scott so successful, and how you can put yourself in his shoes. Many people may know Scott from his HGTV shows, but maybe you didn’t know he was once in a boy band. Seriously. He took dance classes, convinced his friends to join him, and sold out some shows, but the takeaway from this short-lived boy band was priceless. If you see someone else finding success with something, use their blazed trail to find success yourself. From his boy band, to being on student council, and even the passing away of a loved one, Scott learned valuable lessons that he took with him for the rest of his life, and now gets to share with the BiggerPockets audience. Scott goes on to share a story that made him pivot the direction of his life as a teenager, and lead him to become the real estate mogul he is today. Scott goes through his top pieces of advice for young people and proves how planting seeds for investments early leads to acres upon acres of residual fruits for decades to come.
Play
Real Estate Rookie
Real Estate Rookie
BiggerPockets
How an “I Don’t Want to Invest” Couple Became Successful Long-Distance Landlords with Annie and Trey Johnson
Most rookie real estate investors want to hit a home run on their first deal, Annie and Trey Johnson did it completely on accident. Neither of them were interested in being landlords or real estate investors, but after they made six figures profits on their first home, they realized there was real money in the real estate game. Annie and Trey were looking for a home to raise their family in. They found the perfect plot of land which had a new manufactured home and a scenic view. After living in the home for a few years they decided to move elsewhere to be closer to family, and instead of selling it, they decided to rent it out for a year. Now they were landlords by accident, and as the money started to flow in every month they questioned “is this something people are normally doing to make money?”. Fast forward a year, they subdivided the land, sold the home, and walked away with profits exceeding $200,000. Not bad for a couple of rookies! Annie and Trey now invest out of state, building up their real estate portfolio by rehabbing inexpensive homes. They’re so into real estate, that Annie even hosted her own socially-distant meetup during 2020! This investor couple walks through their keys to success, the players on their team that make the biggest difference, and how they went from just homeowners to real estate investors! In This Episode We Cover: * How to use your primary home to make more money * The ability to cash flow using ADUs and mother-in-law suites * How to parcel out lots of land to sell them separately (and make more money!) * Why writing a “love letter” may be a good move when submitting home offers * How a good or bad property manager can make or break your long-distance investing * What to do when there are no meetups in your area (or COVID has limited them) * The best advice for new rookies who are looking to find their first deal * How to find funding for your BRRRR * And SO much more! Links from the Show * Real Estate Rookie Facebook Group * BiggerPockets Bookstore * BiggerPockets Forums * BiggerPockets Podcast * BiggerPockets Meetups * Rookie Podcast 43: Defeating 5 Years of Analysis Paralysis to Do 4 Deals in 2020 with Jacqueline Smith Check the full show notes here: https://www.biggerpockets.com/rookie46
45 min
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