Real Estate Rookie
Real Estate Rookie
Nov 18, 2020
Balancing a Career, Family, and Lots of Deals with Active Duty Service Member Adam Whitney
Play • 46 min

Feeling stretched for time in your investing career? Today we talk with Adam Whitney, an active duty military member, working full-time, with children, a wife, and an active investment portfolio!

With so much going on at once, Adam makes it look easy, juggling his hectic military life while accomplishing his long term goals.

Adam started learning about real estate over a decade ago, but didn’t dive in until 2017. Thanks to his “ruthless work ethic”, he’s been able to stack up his rental portfolio, make meaningful mentor connections, and join masterminds in only a few years!

Adam talks about getting 0% down loans, locking down long-distance real estate deals, doing thorough inspections when buying sight-unseen, and how to start relationships with mentors and real estate professionals you look up to.

With a healthy portfolio of rental properties spanning across the country, Adam is the perfect example of someone who found the time to accomplish his (and his family’s) dreams of financial independence!

In This Episode We Cover:

  • How to make time for investing with a career, family, and hectic schedule
  • The importance of goal-setting for you (and your partner)
  • Setting specific goals to silo your vision for a brighter future
  • Gaining the experience to get your 2nd, 3rd, or 4th deal (and beyond!)
  • Why you should start “aggressively networking” 
  • How to reach out to your real estate heroes (and get responses)
  • Reading and making sense of a pro forma analysis 
  • Optimizing your home inspection process (for less!)
  • How to tackle a joint venture (even if it’s your first)
  • How your “why” drives your deals forward
  • And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/rookie38

BiggerPockets Business Podcast
BiggerPockets Business Podcast
BiggerPockets
92: The 3 Biggest Mistakes People Make During Negotiations with Kwame Christian M.A. Esquire
Negotiation is all around us, whether we see it or not. Whether it’s a business negotiation, an argument in a relationship, or convincing your child to eat their greens, you’re always negotiating. With us on today’s episode is Kwame Christian M.A. Esquire, host of the Negotiate Everything podcast and author of Finding Confidence in Conflict. Most people think you have to be a lawyer to be an expert negotiator. Kwame argues that this isn’t true. Since we are constantly negotiating every day, we have the ability to level up our skills to become experts in debating and negotiating. He stresses that winning a negotiation doesn’t mean beating your opponent so they’re embarrassed at the end. It means giving you AND the opponent the ability to walk away from the situation with a win. Kwame preaches “compassionate curiosity” as one of the best ways to research how an opponent may answer questions you present to them. Tie this with some creative problem solving, and you’ll come out of the debate a winner. As real estate investors, this is especially key to our line of business. We’re constantly debating with sellers, buyers, appraisers and more to get outcomes that benefit us. But how can we suggest an outcome that makes the negotiating partner feel good and presents us with future opportunities? You’ll have to listen to find out! In This Episode We Cover: * Why negotiating isn’t just arguing and how to find wins for both parties * Using “The Empathy Loop” as a tactic to have the other party feel heard * The 3 pillars of negotiation, and keeping them in mind when we debate * The biggest mistakes people make when negotiating * Research vs. preparation (when to use which for what) * Compassionate curiosity and seeing your opponents point of view * Maintaining your “form” throughout negotiation * And So Much More! Links from the Show * Previous BiggerPockets Business Episodes * Finding Confidence in Conflict | Kwame Christian | TEDxDayton * American Negotiation Institute Guides (Gift) * Virtual Negotiation and Conflict Resolution Handbook (Gift) Check the full show notes here: http://biggerpockets.com/bizshow92
1 hr 2 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 437: How Your “Worst Case Scenario” Can Set You Free From a Job You Hate with Marie Forleo
Marie Forleo, world class coach, marketer, and author, grew up with a mother that did everything. Whether it was retiling the bathroom, fixing a leak in the roof, or performing electrical engineering on small appliances, her mother seemed to be able to figure out almost anything. One day she told Marie “everything is figureoutable”, which became the mantra for her career. Fast forward a decade or so, Marie is working on the floor of the New York Stock Exchange, surrounded by the mega rich. She was stressed out and felt that she wasn’t in the right place. After a prayer and a cry, Marie knew she needed to get out from a job that was slowly killing her. She made the jump and went after coaching, without any experience, money, or clients. Before she left her job she asked herself, “what is the worst case scenario if I leave”. She calculated it out, wrote it down, and realized, the worst case scenario really wasn’t all that bad. Marie strongly believes that although you can be a victim of circumstances, you should never victimize yourself and tell yourself that you “can’t” do something. Everyone has the ability to reach their full potential, but once you start putting up excuses, it’s hard to get there. “Feel the fear”, that’s what Marie told herself in those trying times, and continues to tell herself and her clients that everyday. As she puts it “Fear is really trying to tell you to move towards something”. As real estate investors, this is something we can all relate to, but often don’t put into practice. Well, now's the time to!
Play
Master Passive Income Real Estate Investing in Rental Property
Master Passive Income Real Estate Investing in Rental Property
Dustin Heiner
How to Buy 6 Duplexes in 15 Months Investing In Real Estate
Imagine buying 12 units and making $4500 a month in passive income in just 15 months! Well, my student did just that. After buying 6 duplexes, even during the COV ID pandemic, Benjamin continued to grow his business buying 5 properties in 12 months. Get the free real estate investing course: https://masterpassiveincome.com/freecoursep Watch the first interview here: https://masterpassiveincome.com/151 // WHAT TO WATCH NEXT Best Places to Invest: https://youtu.be/g3b4FuQkL78 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 Free Property 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 #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!
39 min
BiggerPockets Money Podcast
BiggerPockets Money Podcast
BiggerPockets
165: How 'Finance Ninja" Daniel J. Mills Started at $30k a Year and Grew a US Rental Empire from Japan
While living abroad, it can be very difficult to invest in assets in your home country, especially if you’re an American. Daniel J. Mills found this out early in his professional career. As a English teacher living in Japan, he had to jump through a sizable amount of hoops to find a way to invest in American stocks, index funds, and later real estate all while overseas.  Growing up in southern California, Daniel knew that there was money to be made through entrepreneurialism. He saw his father grow a business that was profiting millions each year, only to see it later become liquidated. Daniel didn’t really think too much about money or growing his personal wealth until years later. After college, Daniel moved to Japan and became an English teacher making a salary of around $30,000 (USD) a year. He met his wife, settled down, and bought an apartment in an appreciating part of the city (contrary to many other parts of Japan). Daniel was saving around $1,000 a month, and realized he didn’t want to be making $30,000 a year forever. So, he started investing in index funds and stocks, which grew his net worth and allowed him to invest in other asset classes, like real estate. Daniel even shares a tax loophole that allowed him to write off 100% of his 6-figure income while he was in Japan (solely from real estate depreciation)!  Flash forward to today, Daniel has rental properties in Idaho, Alabama, and Tennessee with partners from Japan and the United States. Daniel agrees with many other real estate professionals in the fact that you need a tried and true team in cities where you’re investing. Living in Japan, he doesn't have much to worry about in the US, thanks to his fantastic property managers, handymen, partners, lenders, and real estate agents. In This Episode We Cover * The challenges and benefits of investing in American assets while abroad * Getting rid of debt fast so you’re able to scale your investments  * How money is easier to make as you become more educated and experienced  * The ins-and-outs of Japanese real estate compared to American real estate  * Converting bonus rooms to bedrooms for higher rent  * Forming partnerships with real estate professionals who can help you * And So Much More! Check the full show notes here: https://www.biggerpockets.com/moneyshow165
1 hr 20 min
The Stacking Benjamins Show
The Stacking Benjamins Show
StackingBenjamins.com / Westwood One Podcast Network
Murder and Fortune at the Plaza Hotel (with Julie Satow)
What do New York City's richest residents, murderous unions, and world-famous guests like Marilyn Monroe and the Beatles have in common? The Plaza Hotel! Julie Satow, award-winning journalist and author of The Plaza, joins us today to share the century of fascinating stories the hotel holds between its walls. From fortunes beyond measure to the Great Depression, from the Golden Age of Hollywood to Home Alone 2, the Plaza Hotel has never been shy about its place in history. Plus, believe it or not, we're about to enter tax season! Tax expert Katherine Pomerantz joins us during today's headlines to share all-new tax rules. Between relaxed guidelines on charitable giving, new deductions for your student loan payments, and more savings than you'd think for your home office, this is one tax talk that'll keep you listening. Cole and his wife are DINKS, and are contributing heavily to their IRAs and Roth accounts. They're planning on semi-retiring early and are looking for some advice on how they can best invest for the long-term, keep money relatively liquid, and have enough cash for living expenses. Thoughts? (And OH BOY, does Joe have some thoughts on this one. You don't want to miss this). Of course, after a short and sweet rant, Cole gets plenty of great advice for the future. Of course, we'll also save time for Doug's trivia, and much, much more. Thanks for listening!
1 hr 13 min
BiggerPockets Real Estate Podcast
BiggerPockets Real Estate Podcast
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437: How Your “Worst Case Scenario” Can Set You Free From a Job You Hate with Marie Forleo
Marie Forleo, world class coach, marketer, and author, grew up with a mother that did everything. Whether it was retiling the bathroom, fixing a leak in the roof, or performing electrical engineering on small appliances, her mother seemed to be able to figure out almost anything. One day she told Marie “everything is figureoutable”, which became the mantra for her career. Fast forward a decade or so, Marie is working on the floor of the New York Stock Exchange, surrounded by the mega rich. She was stressed out and felt that she wasn’t in the right place. After a prayer and a cry, Marie knew she needed to get out from a job that was slowly killing her. She made the jump and went after coaching, without any experience, money, or clients. Before she left her job she asked herself, “what is the worst case scenario if I leave”. She calculated it out, wrote it down, and realized, the worst case scenario really wasn’t all that bad. Marie strongly believes that although you can be a victim of circumstances, you should never victimize yourself and tell yourself that you “can’t” do something. Everyone has the ability to reach their full potential, but once you start putting up excuses, it’s hard to get there. “Feel the fear”, that’s what Marie told herself in those trying times, and continues to tell herself and her clients that everyday. As she puts it “Fear is really trying to tell you to move towards something”. As real estate investors, this is something we can all relate to, but often don’t put into practice. Well, now's the time to! In This Episode We Cover: * The 3 rules of “everything is figureoutable” * The power of neuroscience and how you can use it to shape your behavior * How would you behave if you were the best in the world at your job? * Changing your limiting beliefs to reach something greater * Knowing when to leave a bad job and having a plan for the worst case scenario * Feeling the fear and running towards things that scare you * Pulling yourself out of the victim trap (even if you are a victim) * And So Much More! Links from the Show * BiggerPockets Podcast * BiggerPockets book store * Everything is Figureoutable Website * Marie's B School Click here to check the full show notes: https://www.biggerpockets.com/show437
1 hr 8 min
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