Real Estate Rookie
Real Estate Rookie
Dec 23, 2020
Defeating 5 Years of Analysis Paralysis to Do 4 Deals in 2020 with Jacqueline Smith
Play • 54 min

Jacqueline Smith knew that she didn’t want to have a big loan on her first house. The way she solved the problem: buy a foreclosed home and do a live in flip! It worked out so well, that she later decided to do it again, on her second home. Her and her husband then had the idea to go at it full time.

Even during COVID-19, Jacqueline and her husband have 4 flips in the making, and are looking to add more when deals pop up. She’s been through a lot in her short flipping career, from a tornado coming through a house she was working on, to builder tools being stolen while they were housed on site. This only made Jacqueline find better and more efficient ways to do her flipping.

Many of the deals Jacqueline has worked on have come from realtors and investors she’s met through organizations like BiggerPockets and her local REIA. She strongly urges any new investor to join their local real estate groups, talk to investors, and present deals to other experienced professionals when they have the ability to.

Jacqueline’s husband now is able to work on their flips as his primary business, plus get paid for the labor! Even in a crazy year like 2020, Jacqueline and her team have decided to go bigger, when many other investors were holding back.

In This Episode We Cover:

  • How to find foreclosed homes that are perfect for flips
  • The importance of building equity in order to fund your future deals
  • How to stop “analysis paralysis” from creeping in
  • Why you should attend meetups and networking events
  • How to introduce yourself to other real estate professionals, whether you’re at a meetup or just getting coffee
  • What to look for in a partner, especially if you’re new to flipping
  • Whether or not to put in an “escalation clause” when submitting an offer
  • Why you should always have security cameras on site
  • And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/rookie43

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 446: Pivoting the Goal and Swapping Doors for Cashflow with Kyle and Lauren Clugston
Have you ever had analysis paralysis? Maybe you have it right now and that’s why you’re listening to this episode! Kyle and Lauren Clugston would call that “productive procrastination”, and the only way to get out of it is to move forward! They should know, it took them over 3 years before they made their first move in real estate investing! In college Lauren stumbled upon Brandon’s old blog about real estate investing. As she read, she gained more confidence in the craft, and knew that real estate was what she wanted to do with her money. She then started trying to convince her partner, Kyle, that real estate investing was the way to go. As someone without an investing background, Kyle was hesitant, but took a leap of faith which paid off! Now they're BRRRR-ing their way through New Jersey, with single family and multifamily properties throughout the state. Lauren and Kyle had to learn a lot before they became the real estate success stories they are now. Things like doing inspections, estimating rehab costs, getting financing, setting up systems and procedures, and getting legal documents prepared were at one point a great challenge to Lauren and Kyle. Now, they’ve got them down! Lauren and Kyle lay out everything they wish their former selves had known, and go through the things that early real estate investors should worry about, and the things they definitely shouldn’t lose sleep over. This advice could save months, weeks, or hours off of your deal analyses and might be just the thing you need to get out of analysis paralysis!
Play
BiggerPockets Business Podcast
BiggerPockets Business Podcast
BiggerPockets
96: Starting Successful Businesses with NO Industry Experience with Jeff Fenster
There are often standard prerequisites for starting a company. First, you need to go get a degree for a certain field, then you need to find a job that is in that field, then you need to stay in that job for 10 years to gain connections, and finally, you can start a business. Jeff Fenster, serial entrepreneur and founder of Everbowl thought this linear path was a bit outdated. If anything, Jeff thought it was slightly backwards! Jeff planned on becoming a lawyer in college, but once he had his first child, realized that being away from home wasn’t for him. He got a sales job and became the top sales rep in his company. When the company started dangling bonuses over his head, he felt uncomfortable and knew that he needed to start his own thing. He ended up founding a company that directly competed with his former employer, then sold that company, started another, sold that one, started a few more, sold those companies, and many companies later, he started Everbowl, a craft acai bowl and superfood company based out of San Diego. If variety is the spice of life, then Jeff is doing things right! He argues that the best thing you can do is go into a completely new industry, focus on a problem that competitors are overlooking, build systems to make the industry better, and carve out a portion of the market. This strategy has worked well for him as he’s profitably sold and started many different companies. If you want his breakdown on his formula to success, you’ll have to tune in to this episode! In This Episode We Cover: * Why industry experience isn’t necessarily a prerequisite for success * How “fresh eyes” disrupt stagnant markets and industries * What to do before you try and solve a business’s problem  * Developing systems that beat competitors for you * Addressing the not-so-obvious needs of customers  * Focusing on company culture and core values when building a business * Leveraging your “relationship capital” for future opportunities * And So Much More! Links from the Show * Amazon Alexa * Blockbuster * Netflix * Blackberry * iPhone * Best Buy * Amazon * Ikea * We Build Stuff * Neil Patel * Udemy * Etsy * Fiverr * Freelancer.com  Check the full show notes here: http://biggerpockets.com/bizshow96
57 min
Real Estate & Financial Independence Podcast
Real Estate & Financial Independence Podcast
Chad Coach Carson
#154: Career Capital - Financial Independence Isn't the Only Way to Get Personal Freedom & Autonomy
Episode #154 - Learn how to get more autonomy & freedom before you even reach financial independence using something called career capital. Companion article: https://www.coachcarson.com/career-capital/ __________ 🏘️REAL ESTATE IN YOUR RETIREMENT ACCOUNT? This is a strategy I've used successfully for years, but you've got to make sure you have a custodian that specializes in this type of investment. I personally use and highly recommend my friends at American IRA. You can watch a short video, get an information guide, or set-up a free consultation at https://coachcarson.com/americanIRA __________ 🎧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
29 min
Master Passive Income Real Estate Investing in Rental Property
Master Passive Income Real Estate Investing in Rental Property
Dustin Heiner
Protect Yourself From The Real Estate Crash
The real estate crash seems like it is coming and we want to make sure we are protected against it. Do this when you invest in real estate to be safe from the crash. Why you should invest when the market is high before the market crashes. https://youtu.be/gbADmsu5sk8 Book a call to start working with Dustin Heiner as your coach to become a successful real estate investor: https://masterpassiveincome.com/bookacall Get my real estate investing course for free: https://masterpassiveincome.com/freecoursep // 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!
14 min
The Remote Real Estate Investor
The Remote Real Estate Investor
Roofstock
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 https://limaone.com/nate/ --- 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: https://www.severalpropertiesgroup.com/ Learn About Investment and Partnership Opportunities with Kevin and His Team
41 min
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