realestateinvestinginindiana

Welcome to the CRE Clarity Podcast with Jeremy Goodrich. We have a returning guest today, John Casmon, multifamily syndicator, podcast host, and marketing expert. In our conversation, we talk about the best multifamily markets, how to align your team with your goals, and how to minimize your tenant turnover with event marketing. Join us and get inspired! 

Learn more about John and his story at creclarity.com!

“The reason the Midwest is so appealing to me is because it's very stable. It doesn't get too high up when things are great, but it also doesn't get too low at bad times.“

 

01:00

In the last decade, John has almost exclusively focused on multifamily investments in the stable Midwest markets, particularly cities like Columbus, Cincinnati, Louisville, and Indianapolis. He emphasizes the importance of evaluating market fundamentals and considering factors like population growth, job market strength, and rental market trends before making investment decisions.

 

John explains that in 2023 the most amount of new units come to the market in the last 36 years and 2024 is expected to surpass that number. This trend forces rents to compress.

“With my team, we're all aligned with our goals. They're clear on what success means to me, and our strategies and goals are based on that.”

 

08:42

John loves multifamily but he’s looking into different asset classes as well, like boutique hotels or residential assisted living. His goal is to create memorable experiences for his tenants by focusing on community and organizing community events. This mentality stems from John’s event marketing background and is leading to remarkably low tenant turnover.

 

John is very clear on what success means to him, and his team has to be aligned in their goals. He primarily focuses on the NOI, and the compensations are tied to that as well. 

“I'm excited about the overall market dynamics because it's a great time to grow.”

 

30:48

Towards the end of the conversation, John shares what he’s looking forward to in 2024. He’s excited about new opportunities. In the last couple of years, it was challenging to come across good deals, but he sees 2024 as a year of opportunity, noting that investors are returning to fundamentals, making it easier to identify cash-flowing deals.

 

Finally, John shares one point of clarity with the listeners. Understanding goals and visions is key to clarity and success. Make sure your investing strategy aligns with your actual goal. That's going to help you get the most clarity. 

About our Guest, John Casmon

John Casmon is a real estate entrepreneur, who has partnered with busy professionals to invest in over $100 million worth of apartments. John also consults active multifamily investors to help them start or grow their business. He hosts the Multifamily Insights podcast (formerly Target Market Insights) and is the co-creator of the Midwest Real Estate Networking Summit. Prior to becoming a full-time investor, John worked in corporate America, overseeing marketing campaigns for General Motors, Nike and Coors Light. 

Mentioned in the show:

1. https://www.casmoncapital.com/

2. His LinkedIn

3. Shineinsurance.com

4. www.crerisk.com

5. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

 

Special thanks to John Casmon for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

·   SUBSCRIBE to CRE Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 

·   While you there, please RATE & REVIEW the show 

·   SHARE with friends

·   Finally, please, JOIN the CRE Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

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Welcome to the Managing CRE Risk podcast, where we believe that if you can identify, understand, and manage the risk, you can take huge leaps in your CRE journey and find more success along the way. 

Our guest today is Jason Yarusi, a real estate syndicator and investor with over 1100 units in the Midwest. In this conversation, we discuss how to identify risks on the operation side and how to be an exceptional manager. We also talk about where the market is heading and if it’s a good idea to acquire at the moment.

Learn more about Jason and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“We need about 15 million homes for the decade between 2020 and 2030 but at this pace, we’ll only build about 11 million. So we have a way to go.”

 

04:36

At the beginning of our conversation, Jason shares the biggest risks in the current market.

According to him, on one hand, the market has high prices, so many investors are afraid that they could fall off soon. On the other hand, we still have a tight supply so the prices will probably stay high for a while.

 

Jason is still acquiring new units. He usually looks at 75-150 unit properties but in recent years he’s become more opportunistic and sometimes considers smaller deals.  

“You have to be open to pivot and just really constantly assess where you stand.“

 

14:06

Jason has more than 1100 doors, so he’s dealing with asset management a lot. He explains that the biggest risk to success in asset management is not tracking your processes. 

 

He has regular calls with his management groups and constantly reevaluates the management plans to make them more successful. It’s crucial to have strong values and shared direction across all the management teams.

 

Jason’s advice on how to make good investment decisions in this market is to either know the community or know someone who knows the community in the area you’re investing in. It’s very important for him to make the community a better place by making thoughtful renovations and bringing money back to the neighborhood.

About Our Guest, Jason Yarusi

Jason is the founder of Yarusi Holdings with his wife Pili. They have over

acquired over 1110 multifamily units since 2017. He is an avid ultra

runner and workout enthusiast. Hosts The Multifamily Live

Podcast. W  akes up daily at 4:32 am. Is an Aspiring Ukulele Player.

And most importantly Father of three amazing kids and husband.

Mentioned in the show:

1. https://www.yarusiholdings.com/website
2. Jason’s LinkedIn
3. Shineinsurance.com
4. www.shineinsurance.com/managing-commercial-real-estate-risk
5. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

 

Special thanks to Jason Yarusi for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

If you enjoyed this episode, then you’ll love these ones:

• 101: Creating Good Deals, With Tim Bratz
• The Future Of Commercial Real Estate, With Shannon Robnett
• The 3 Principles Of Successful Investing, With Clint Coons

Welcome to the Managing CRE Risk Podcast with Jeremy Goodrich. In today’s solo episode, we talk about the importance of understanding risk and learning how to manage it. Jeremy shares a story about managing risk, we discuss ways to truly understand the risk in your CRE business, and we even have a little exercise for you at the end.

Join us and learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

At the beginning of the episode, Jeremy shares a childhood holiday story about a friend who didn’t realize the risk of a suspiciously cheap sunscreen. The story shows how we need to be able to see and understand the risk in every aspect of our lives in order to manage it effectively.

 

If you are a commercial real estate investor then you come across many risks in your business that you need to recognize and understand.

 

Understanding the risk is usually the hardest part. However, there are no new problems in the world anymore. Everything has been a problem before and anything worth solving has already been solved. 

 

Once you understand the risk, you have to manage it. Managing the risk is not always easy either, but it's always doable.

 

Our challenge for you today is to take the biggest issue you’re dealing with and ask yourself if you truly understand what the problem is and what’s the risk of failure or success in this situation. 

 

Write down what you do or don't understand and what actions you're going to take to understand the problem better. Then think about the next steps you can take to manage this issue.

Mentioned in the show:

1. Shineinsurance.com
2. Jeremy’s LinkedIn
3. www.shineinsurance.com/managing-commercial-real-estate-risk
4. The REI Clarity Framework

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

 

 

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Welcome to the first interview episode of the Managing Commercial Real Estate Risk podcast. Today, our great guest is Tim Bratz, a real estate investor and coach. In this episode, we dig deep into Tim’s investing strategy and how he manages risks. We talk about seller financing, how to navigate the current state of the market, and preparing for the biggest CRE risks.

Join us and elevate your investing game!

Learn more about Tim and his journey at shineinsurance.com/managing-commercial-real-estate-risk!

“You don't go to the gym and start benching 300 pounds right away, you have to work your way up.”

 

05:30

Tim got interested in real estate investing in college around 2007. He moved to Charleston, South Carolina and started investing in residential real estate soon after graduating. In 2012, he bought his first apartment building.

 

Currently, Tim has around 4000 doors and coaches other investors on how to succeed in real estate.

“Anybody can play with the numbers and make a deal look good on paper. You got to do your own due diligence.”

 

11:36

According to Tim, the biggest risk in the current market is the short-term mindset. Many investors are not disciplined enough and force a deal to happen.

Here are ways to mitigate this risk:

• Stress test all the numbers during your underwriting.
• Don’t use flat taxes and be conservative.
• Run the rental comps and the expenses.

 

In the current sellers’ market, many people buy high. Tim shares his advice on how to succeed in this environment.

• If you don’t have a big portfolio built up and you don’t know many brokers in your area yet, then go off-market. Reach out to sellers directly.
• Find hairier deals in B or C class properties.
• Look around in secondary markets. 

“The seller is an investor, right? And they're already comfortable with their asset and the location.” 

 

28:25

At the end of our conversation, Tim talks about how he sets up a deal to make it work for the seller by using seller financing. He asks the seller for an additional 20% on top of what he gets from the lender and essentially makes them the investor. This way he reduces the cost and unlike in syndication, he doesn’t give away almost any of the equity.

About Our Guest, Tim Bratz

Tim began his career in the competitive New York City real estate market working as a broker leasing ground floor retail units. Here, he saw the true potential of real estate to transform lives. Although Tim was limited in means, he spent his time reading, attending workshops, and networking with accomplished entrepreneurs learning that being resourceful was the ultimate path to becoming successful.

With this knowledge, Tim embarked on building his real estate company in Charleston, South Carolina, where he had relocated in search of a better quality of life. Arriving in 2008, after the real estate bubble burst, Tim quickly adapted and using a credit card, increased his limit and then wrote himself a balance transfer check to acquire the cheapest property he could find. Armed with his personal investment and plenty of sweat equity, Tim transformed a rundown duplex and turned a profit on his first deal. He then took those proceeds and reinvested them, while seeking private capital to expand his growing company. Today, Tim still uses this formula for success, which all starts with being resourceful and having the right mindset.

Mentioned in the show:

1. commercialempire.com
2. legacywealthholdings.com
3. Tim’s LinkedIn
4. Shineinsurance.com
5. www.shineinsurance.com/managing-commercial-real-estate-risk
6. Jeremy’s LinkedIn

Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we'll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/ 

 

Special thanks to Tim Bratz for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Today, we have a huge surprise for you! The REI Clarity show is transforming into the Managing Commercial Real Estate Risk podcast. We’re shifting our focus to managing CRE risk and learning how to take bigger risks successfully.

Join us on this new journey!

Learn more about managing CRE risks and unleashing your profits at shineinsurance.com/managing-commercial-real-estate-risk!

“Being able to take risks is the key to success, we have to take risks.”

Over the course of the last two years, we interviewed some of the best real estate investors out there and gained information on how to take the leap from part-time investing to full-time investing. Outside of the podcast, as an insurance advisor, Jeremy is also talking with hundreds of clients about the hardships they’re facing in their work.

 

During that time, we’ve heard a recurring theme throughout every conversation - RISK.

 

Understanding risk is the key to unleashing the profits of a commercial real estate deal and ultimately creating a successful commercial real estate portfolio. We want to pivot this show to speak directly to that. We're saying goodbye to the name, REI Clarity, and moving on to the Managing Commercial Real Estate Risk podcast.

 

Jeremy’s going to be interviewing asset managers and seasoned investors, asking them specifically about the risks they take and how they find success while managing and mitigating those risks.

 

We’re super excited about this shift as we feel like it moves us closer to where our knowledge base is, where our understanding is, and where we can provide true insight for you. 

 

We want to help you to elevate your game and unleash your profits by managing the risks you take. 

 

Can't wait to go on this journey with you. It's going to be an exciting one! We'll see you in the next episode.

Mentioned in the show:

1. Shineinsurance.com
2. www.shineinsurance.com/managing-commercial-real-estate-risk
3. The REI Clarity Framework

Learn how to manage the risk and unleash your profits the right way! Visit us here for everything you need to know: shineinsurance.com/managing-commercial-real-estate-risk. 

 

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to Managing Commercial Real Estate Risk on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the Managing Commercial Real Estate Risk Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the CRE Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Let’s dig into passive real estate investing! Our guest is Matt Picheny, a real estate investor with thousands of doors and author of the best-selling book: Backstage Guide to Real Estate. In this episode, we talk about what to look out for in a sponsor, how to find the right market, and how to evaluate a good deal.

If you want to be a passive investor and learn more about underwriting, then we guarantee that this episode will help you!

Learn more about Matt and his journey at reiclarity.com!

“You should invest in things that you know and love.”

 

03:03

Matt is an investor with a huge portfolio. He’s passively invested in about 6000 doors and an active investor in 2300. According to him, real estate is relatively low risk with a potential of high reward. The key to mitigating the risk is to properly underwrite the property.

 

Matt believes that people should invest in things that they know. He was an actor for 5 years so he also invests in Broadway. 

“Never put more than 5% of your net worth into any single deal.”

 

14:08

Matt wrote a book called Backstage Guide to Real Estate where he shares his tips and tricks on passively investing in real estate.

 

He explains the 3 key aspects of a deal that should be evaluated and underwritten.

 

1. The sponsor 
2. 1. Look into the sponsor’s track record in real estate and business in general. If this is your first passive investing deal, then choose an experienced sponsor.
   2. Learn about the exit strategies. If there’s only one, that can be a potential red flag.
   3. Be aware of the sponsor's involvement in the deal. You want them to be involved in the deal and not just raise money. 

 

1. The market
   Location is key when it comes to a good deal. Find different submarkets within an area. Look for data about employment history, population growth, educational demographics, and household income in the 10, 5, and 1-mile radius of the property.
   
   
   1. Exit cap rate. Look for a higher cap rate when you’re buying the property and a lower exit cap rate. A little shift in that cap rate can greatly affect the valuation of the property.
   2. Projected rent growth.
   3. Projected insurance.
   4. Projected taxes.
2. The deal itself
   The main things to look out for in the deal:

Mentioned in the show:

1. www.picheny.com
2. Matt Picheny - Backstage Guide to Real Estate
3. His LinkedIn
4. www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Matt Picheny for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While your there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Today we’re talking with an investor who is at the top of his game. Our guest is Ryan Webster, the founder of Equity Yield Group, which has $250M in assets under management. In this episode, we talk about how to transition from the development side to managing existing properties, the key fundamentals of finding a good deal, and how institutional money works.

If you’re looking to acquire stabilized assets and grow your portfolio significantly, then tune in to our conversation! 

Learn more about Ryan and his journey at reiclarity.com!

“There's a lot of inherent execution risk and market cyclical risk on the development side and I wanted to mitigate that.”

 

02:31

Ryan started on the construction side of real estate and had a construction development company. Over the years, he moved around within the industry and finally landed on the acquisition of stabilized assets.

 

Ryan talks about the difference between being on the development side and being an asset manager. Development has a significantly higher risk factor but it can have a better return. Stabilized assets are more predictable and reliable with a smaller potential return. The tax benefits are better with stabilized assets. 

“I think it's important to focus on the fundamentals of business and real estate investing and not just buying things because cap rates are compressing and the market is going crazy right now.”

 

8:52

Ryan’s company is acquiring 100+ doors in the large multifamily space. He finds investors through syndication and his investors range from retail to institutional investors.

 

Ryan shares his key fundamentals when looking for a deal:

• Stable population growth.
• Diverse and growing job market.
• Areas with not a lot of land to avoid new development.

“Real estate is a great asset class - it's always been a very low-risk stable investment and one of the greatest wealth builders over time that comes with maximum tax benefits.”

 

21:06

Ryan talks about the exit piece in his business plan. He always plans a 5-year hold with his properties. The actual exit is determined by the market conditions and asset performance. 

 

A long-term hold is not always possible with institutional investors as they usually have some control over the exit terms.

Mentioned in the show:

1. https://equityyieldgroup.com/
2. His LinkedIn
3. www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Ryan Webster for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While your there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Our guest is Tim Vest, a multifamily investor with over 100 doors and the founder of Harvest Properties Group. In this episode, we talk about Tim’s investing journey, how to build your multifamily portfolio, and different strategies to succeed in the industry. If you’re planning to take the leap from single-family to multifamily investing, then this episode is a must for you!

Learn more about Tim Vest and his journey at reiclarity.com!

“I saw the power of real estate and the effect it had on my money, and that just got me going.”

 

02:26

Tim was always entrepreneurial. After graduating college, he started working in the tech industry. Soon, he got interested in real estate investing and jumped into land development around 2006. Ever since, real estate investing has been Tim’s wealth strategy. 

 

Tim is doing angel and crypto investing, but real estate is his primary source of income. For him, it’s the safest investment because it builds cash flow today but can also create generational wealth.

“There's a million ways to get a deal done. And in every one of those scenarios, there's a way to participate.“

 

13:19

Tim is still working in a tech company but he’s planning to leave this W2 job in a few months. Even though he makes a good income, he rarely uses his own capital for his deals. 

 

He‘s involved in syndications and JV deals. According to him, there are many ways someone can participate in a deal. Sometimes it’s bringing the money, but sometimes it’s finding the deal or bringing sweat equity.

“I'm not saying capital is not important but right now there's a huge premium on good deals.”

 

21:59

Tim is in the multifamily space. He talks about his experience with the industry in recent years. According to him, the focus has shifted from finding the capital to finding the deal. 

 

Tim’s advice on how to find good deals:

• Have a good relationship with smaller brokers.
• Don’t get into deals where the seller asks for hard earnest money. However, if the deal makes sense, build in a 30-day period or more before the deposit goes hard.
• Build a good relationship with your service team, like your property managers, insurance advisor, and accountants, as they can help you with your next deals.
• Underwrite deals very conservatively.

Mentioned in the show:

1. https://harvestpg.com/
2. His LinkedIn
3. www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Tim Vest for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While your there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Our guest is Curtis May, wealth advisor and the owner of Practical Wealth Advisors LLC. Today, we continue the financial advice from last week and dig into personal finance. We talk about how to build smart financial foundations, the 5 pieces of a good financial plan, and the rules of successful investing.

Join us and elevate your personal finances!

Learn more about Curtis May and his journey at reiclarity.com!

“The financial plan precedes the business plan or the investment plan.”

 

03:08

Curtis was always entrepreneurial. After reading Rich Dad, Poor Dad, he got very interested in finance and became a wealth advisor about 10 years ago.

 

Curtis is helping people understand the difference between the accumulation of money and the velocity of money. According to him, many people accumulate funds through 401(k)s, IRAs, or mutual funds that only make a little return on investment. The risks are that there are too many moving parts, like a fluctuating market, government regulations, taxes, and depreciation. Curtis’s advice is to invest in real estate and create velocity.

“You can't get homeowners insurance if your house is on fire, right? You can't set up a corporation trying to move your stuff around. You have to do it while you don't have anything going on.”

 

14:52

Curtis shares the 5 principles of personal finance to create velocity and eventually financial freedom.

1. Savings. Have safe, liquid, accessible, and guaranteed funds, generally around 15-20% of your gross income.
2. Maximum protection. Use insurance, LLCs, and estate planning to protect your assets.
3. Legacy of wisdom and wealth. Have a well-planned life insurance plan to protect your legacy. 
4. Liquidity. Have 3 months of income available on your bank account to be able to access it quickly.
5. Velocity. Plan out different investment strategies to create more cash flow.

 

You can grow all these different areas at the same time. One strategy that Curtis is teaching is infinite banking.

“Banking principles drive strategy and strategy drives tactics.”

 

30:35

Curtis talks about the 3 rules of investing.

1. Invest in your number one asset, yourself. Work on your expertise, your mindset, and your skillset.
2. Invest in something you can influence the outcome of and that will cash flow. Entrepreneurs solve problems for others.
3. Don’t chase returns.

Mentioned in the show:

1. practicalwealthadvisors.com
2. The Practical Wealth Show
3. Text “Be the bank” to 55444 to subscribe to the Practical Wealth Advisors newsletter
4. His LinkedIn
5. www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Curtis May for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While your there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Let’s talk about cash flow today. Our guest is Chris Miles, cashflow expert, “anti-financial advisor”, and the founder of Money Ripples. In our conversation, we talk about how to analyze investments, the relationship between cash flow and appreciation, and how to make sure that cash flow is king - as we all know.

Whether you’re an active or a passive investor, this episode will help you assess your cash flow better.

Learn more about Chris and his journey at reiclarity.com!

“The next thing I know, I went from a millionaire to an upside-down millionaire in 2008. I actually ended up being over a million dollars in debt.”

 

03:29

Chris started his career as a financial advisor, but he learned that the traditional way of advising people about their finances just didn't make sense for him. So he pivoted to real estate investing in 2006. 

 

Soon, Chris became a very successful investor. His strategy was appreciation play so he acquired many higher-priced properties, waiting for them to appreciate. However, during the 2008 financial crisis, he lost almost all his investments and ended up being over a million dollars in debt. This taught him a lot of lessons. The two most important were to not count solely on the appreciation of a property and to track his money.

“One of the worst things I did was locking up my equity in my house when I could have kept that money in cash reserves.”

 

13:26

Chris started a company that provides financial advice, Money Ripples, in 2012, using the lessons he has learned during his real estate career. He shares a few tips on how to create more cash flow.

• Get your money out of “prison”. Get out of the equity of your home, the stock market, and especially 401(k)s and IRAs.
• Invest in real estate, as that is one of the safest true assets that not only give you great tax breaks but massive cash flow as well.
• Be diversified to a degree, but make sure you’re still able to manage your investments. Don’t be overly diversified.

 

Chris talks about unconventional ways to invest. One of these is investing in life insurance. If the whole life policy is set up correctly, it not only has the common death benefit but also acts as a kind of bank account. It generates around 3-5% interest, it’s not getting taxed, and you can borrow from it.

 

Chris’ advice is to have a limited amount of equity in your properties and use that cash instead to purchase more and grow your asset base. Low-risk equity is better than high-risk cash flow.

“Don't make one-year, two-year, three-year goals. Just focus on the next step, that's all you need to know.”

 

31:36

At the end of the episode, Chris picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Forecast Your Future”.

 

According to Chirs, the biggest problem people have is that they don’t really understand where they’re going in life. You have to be clear about the direction you’re headed so you can always plan the next step.

Mentioned in the show:

1. https://moneyripples.com/
2. The Chris Miles Money Show
3. His LinkedIn
4. www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Chris Miles for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While your there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Our guest is Jacob Vanderslice, a real estate developer and investor with a diverse portfolio. In this conversation, we dive deep into succeeding in closing. We talk about the different ways to fund your deals, the benefits of self-storage investing, and what it's like to connect with institutional investors. Don’t miss out on this episode!

Learn more about Jacob and his journey at reiclarity.com!

“We're not seeing appraisal misses on the self-storage front.”

 

05:17

At the beginning of our conversation, Jacob explains the basics of a commercial real estate transaction and the closing process that he follows. 

• Underwriting.
• Submitting the letter of intent to the seller.
• Executing the contract.
• Depositing the earnest money (typically between $50k to $500k).
• Due diligence and ordering a variety of third-party reports about the property.

 

The appraisal is a very important part of the closing process. An appraisal is designed for lenders to get third-party validation on the value of the property. 

“We think the definition of wealth is durable, recurring revenue that gives you an above-market yield.”

 

11:22

Jacob has a very diverse portfolio and a big part of it is self-storage. According to him, self-storage has historically been very resistant to recessions and downturns and the revenue stream is very granular and dynamic. His company got into this asset class in 2015 and has only sold 1 out of their 35 self-storage facilities due to the steady cash flow.

“Raising capital is all about creating credibility. You’re not pitching or asking for money, you're educating someone on the asset class.” 

 

22:10

Jacob explains the difference between a syndication and a fund. Syndication is getting into one single deal, while funds are investing in a collection of assets. Syndications tend to be a bit more flexible.

 

Jacob likes the fund system and he has self-storage funds. Their first fund was just $10M and their most recent one was around $40M. This is a small amount compared to when institutional investors are involved, as those funds can be around $300M.

Mentioned in the show:

1. https://www.vanwestpartners.com/
2. His LinkedIn
3. www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Jacob Vanderslice for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While your there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Our guest is Shannon Robnett, a real estate developer and syndicator with over 35 years of experience. In this episode, we talk about the future of commercial real estate. Shannon shares his investing journey, how to adjust to changes in the industry, and why tokenization might be the next big thing in REI. 

Start 2022 right and plan out your next steps with the help of this conversation!

Learn more about Shannon and his journey at reiclarity.com!

“Solving your own problem is a very very smart thing to do because you need to be able to take care of that instance when something doesn't go right.”

 

03:26

Shannon is a fourth-generation realtor. For a while, he didn’t want to work in the industry, but after college, he realized how lucrative real estate was. In his 35-year real estate journey, Shannon has done construction projects, worked as a developer and multifamily asset manager, and invested in many deals.

 

Over the years, Shannon learned the importance of understanding every part of real estate investing, the benefit of building a team, and paying people more for the additional value.

“Tokenization creates a liquidity in that marketplace that I think the world is really craving.”

 

12:28

Shannon has invested in the Boise, Idaho market for most of his career. In 2020, Boise was noted as the least affordable market in North America. This made Shannon change his strategy and he’s now venturing out to other states and more industrial types of deals.

 

Shannon is building a tokenization platform for real estate which is utilizing blockchain technology. Tokenizing real estate has many advantages including increased efficiency, liquidity, and diversification.

“You can call it “forecasting your future” but I call it building your processes that keep you out of trouble.”

 

36:50

At the end of the episode, Shannon picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Forecast Your Future”.

 

According to Shannon, the more systems and processes you have in place to take out the variables, the better you can forecast your future. Focus on building solid processes and follow them step by step.

Mentioned in the show:

1. shannonrobnett.com
2. https://www.myverticalequity.com/
3. His LinkedIn
4. www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Shannon Robnett for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While your there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Our guest is Susanne Mariga, a CPA, tax coach, chartered global management accountant and certified Profit First accountant. Today, we dive deep into entrepreneurship and the processes that you have to employ around keeping your money. Susanne gives us a clinic on how to keep your money with a method called “Profit First”, how much money you should spend on owners’ pay, and why you need to create the “illusion of scarcity” in your business.

Learn more about Susanne and her journey at reiclarity.com!

“Profit has to be intentional, the bottom lines have to be engineered before you even start your business.”

 

03:47

Susanne started working in her father’s CPA firm as a bookkeeper at age 14. She fell in love with the financial world and went on to become a certified public accountant and Profit First accountant.

 

Susanne shares the Profit First method that she uses in her business and coaches other business owners. Profit First is a cash management system, not an accounting system. It's designed to force intentional profitability and intentional owners’ pay.

 

How the Profit First method works:

1. As humans, the more we have, the more resources we’re going to use. That is why profit has to be intentional and accounted for in the business. The first step is to figure out how much money you want to make and then re-engineer your strategy backward.
2. You have to create the “illusion of scarcity” by creating different bank accounts inside the business. These bank accounts are for the revenue, profit, owners’ pay, tax obligation, and operating expenses.
3. Only use the operating expenses bank account for your expenses to avoid overspending.

 

For a healthy small company with under $250k revenue, around 70% of the revenue should go to owners’ pay and 30% for operating expenses. By the time the company reaches about $10M revenue, only 35% should go towards the owner.

“Minority business owners, even the ones that make 6-7 figures in gross revenue oftentimes do not even take home $100k.”

 

24:31

Susanne is very passionate about helping minority entrepreneurs succeed in their businesses. She recently wrote a book to help and educate them called Profit First for Minority Business Enterprises.

 

Susanne wants to empower business owners not only in the US but worldwide. That is why $1 for every book that is sold is going towards a scholarship for sending girls to school in Zimbabwe. Within the first 30 days of launching her book, she funded 22 scholarships.

“The reality is that growth only happens intentionally.”

 

41:27

At the end of the episode, Susanne picks an action step from the REI Clarity Framework that is the most valuable to her. This is “Find the Money”.

 

According to Susanne, finding the money for investing starts with your purpose. Define what winning looks like for you and what your end goal is. Then work backward and budget for the things that are important for you. 

Mentioned in the show:

1. https://susannemariga.com/
2. Susanne Mariga - Profit First for Minority Business Enterprises
3. Profit First Masterclass
4. Her LinkedIn
5. www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Susanne Mariga for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While your there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Our guest is Josh McCallen, a capital syndicator, hospitality investor, and conference speaker. We had a great conversation with Josh last year and now he’s returning with even more wisdom. In this episode, we dig deep into hospitality. We learn about how to build the foundation of your REI strategy so you can succeed through hard times, taking care of people in your business while staying profitable, and thinking outside the box when it comes to real estate investing.

Learn more about Josh and his journey at reiclarity.com!

“Here's the deal - none of us caused COVID but we all had to make a choice how to deal with it.”

 

03:01

Josh and his wife, Melanie, purchased Renault Winery and Resort with a group of investors at the end of 2018. In our last conversation with Josh, we talked about the struggles of COVID in hospitality and how they planned to overcome them. Now, around a year later, they made it through the pandemic successfully and their resort is fully booked until 2023. 

 

Josh made many profitable changes in his resorts during the pandemic. By the end of 2020, they made $2M additional revenue and they continue to grow.

“We try very hard to build good teams, that's pretty much my calling in life is to build teams.”

 

15:45

Josh talks about his investment strategy around Renault. At the end of 2018, their plan was to modestly update the property and sell 100 weddings a year. However, in their first year, they sold 250 weddings. This prompted them to update the property even more.

 

Renault has around 350 investors. They raised $20M+ in the last 2-3 years. Josh and his team are still taking on new investors for their projects.

“The fact that we are not perfect creatures is not the reason why we should quit trying to seek the good.”

 

31:25

Josh describes the Why behind his business. He wants to revive the souls of their properties, team, and guests.

 

The 3 virtues that Josh lives by and runs Renault.

1. Joy. Josh only employs people who are passionate about hospitality and find joy in giving back.
2. Humility. This means seeking humility in every work situation.
3. Ministry. Doing simple tasks for a spiritual reason and making people feel loved.

Mentioned in the show:

1. http://accountableequity.com/
2. https://www.renaultwinery.com/
3. Capital Hacking Podcast
4. https://www.vivamee.com/
5. His LinkedIn 
6. www.shineinsurance.com/reiclarity

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Josh McCallen for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While your there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Our guest is Jason Mittman, a commercial real estate investor with over 30 years of experience. In this insightful episode, we learn about how Jason started investing, how to overcome risks, and how to rise by lifting others.

If you want to build a real estate portfolio that you can be proud of, not only from a financial perspective but also from a community perspective, then this episode is for you!

Learn more about Jason and his journey at reiclarity.com!

“I think one of the keys to commercial real estate investment success is what problems can you solve.”

 

02:32

Jason has always been adventurous. He was a semi-pro adventure racer, a mountain bike racer, and a mountain climber. When he decided 33 years ago to build a career in commercial real estate, he wanted a name that represented his values in both his business and personal life. That is why he named his company Only Epic Holdings.

 

According to Jason, he never gets bored with the industry because he loves the people he works with and loves solving problems.

“If the deal is good enough people will invest with you. If you don't have experience but the deal is strong, they're protected well enough. There's always a way.”

 

09:58

Jason has become an educator over the years. One of his principles is learning how to say no. Investors often feel that they have to do everything by themselves and say yes to every opportunity. However, our time is limited and we have to learn to say no to things that don’t serve us.

 

Jason’s company has a portfolio in 3 states with industrial, self-storage, retail, and medical offices. They’re currently selling all their multifamily properties, as they see better opportunities in CRE.

“Overcoming risk is overcoming your fear and going through tremendous hardships and scary times in order to get a tremendous reward.”

 

31:46

At the end of the episode, Jason picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Take the Risk”.

 

Jason gives a great example of taking the risk from mountain climbing. Everyone can make it if they choose to keep going during adversity. Learn from your adversity and you can manage the risk.

Mentioned in the show:

1. www.onlyepic.com
2. His LinkedIn
3. www.shineinsurance.com/reiclarity
4. The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Jason Mittman for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Our guest is Clint Coons, attorney, real estate investor, speaker, and author. In this conversation, we talk about the 3 pillars of successful investing. We learn about how to protect your assets, how to minimize your taxes, and how to plan your business thoughtfully.

If you’re ready to take the leap and triumph in real estate investing, then this episode is for you!

Learn more about Clint and his journey at reiclarity.com!

“Real estate investors have to understand that there are more ways to make money than just that one little slice that they've convinced themselves.”

 

03:09

Clint’s father was a single-family real estate investor and he learned the basics of the industry from him. Clint wanted to do real estate investing to have passive income and eventually reach financial freedom.

 

According to Clint, one of the biggest mistakes that investors are making is overanalyzing deals. The best way to combat that is to make sure you have multiple exit strategies.

“You need to appreciate the risk, and then put together a structure or plan that is going to mitigate that.”

 

10:42

Clint shares his 3 principles about successful business planning.

1. Asset protection.
   Appreciate the risk and prepare for it. Have the right insurance policy and know what’s covered in your policy and what’s excluded.
2. Tax planning.
   Don’t focus only on reducing your tax burden. Not paying federal income tax limits the amount of money you can borrow and the loans you can get long-term. He explains the importance of forming the right entity and why having a C Corp is better than an S Corp.
3. Long-term business planning.
   Educate yourself and find a mentor who understands your goals. When an opportunity presents itself, don’t just think about what it’s going to cost you but what it’s going to do for you.

 

Clint explains that a common mistake that investors make is that they only focus on one or two of these principles.

“Find those people that are doing what you're doing, but they're doing it better.”

 

43:40

At the end of the episode, Clint picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Build a Team”.

 

Building his team was the most important aspect of Clint’s success in business. He explains that there is high-value and low-value work, and people are often trapped with low-value tasks. It’s important to be able to outsource these tasks and focus on high-value work.

Mentioned in the show:

1. https://andersonadvisors.com/
2. His LinkedIn
3. www.shineinsurance.com/reiclarity
4. The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Clint Coons for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

We have an exciting conversation for you today! Our guest is A. Donahue Baker, a real estate developer and investor. In this episode, we talk about the 6 steps to build generational wealth, how to make smart money decisions, and a new way to get funding for your real estate deals. Join us and start building generational wealth today!

Learn more about A. Donahue and his journey at reiclarity.com!

“I just wanted to do one deal a year. The idea was, I would always make more money this year than I did the previous year. And I've done that for about 20 years now.”

 

03:09

1. Donahue grew up in a middle-class family and he was always very entrepreneurial. He found multifamily real estate investing by accident and realized that it was his true passion.

 

1. Donahue’s advice when it comes to becoming successful in real estate investing is to always have a clear, specific goal. From that, you can work your way backward and break up the process into bite-sized pieces.

“In this country, in order to build wealth, you need to have access to capital. And that goes hand in hand with debt.”

 

14:33

1. Donahue shares his 6 steps to generational wealth creation.

 

• “The basement”. Over 70% of Americans are living paycheck to paycheck. The focus on this level should be to get out of debt.
• Level 1. Focus on earning at least $100k a year. In A. Donahue’s experience, that is the amount of money that provides financial security and a good foundation to create true wealth over time.
• Level 2. The number 1 expense in most people’s life is their rent or mortgage payment. If you can create a “rent-free” lifestyle through house-hacking then you can save up a lot of money fast.
• Level 3. Bring your personal credit score to 720 and lock it. Then separate your personal and business life by creating an LLC and start to live exclusively through your business.
• Level 4. Acquire $1M in good debt. This means mortgages that pay for themselves by your tenants.
• Level 5. Over time this $1M turns into equity. As the final step, you need to structure how you can pass this wealth on to your children or heirs. You can set up trusts and life insurance.

 

1. Donahue started a bank, Money Avenue, where he plans to reform the banking system. They help investors to fund their deals. As opposed to syndication, the debt comes from a banking structure and the down payment comes from the JV.

“Each deal has its significance. It's not all about the money, some deals are just going to be your resume builder.“

 

36:35

At the end of the episode, A. Donahue picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Forecast Your Future”.

 

1. Donahue’s advice when you're thinking about acquisitions, is to start working on your next deal while you’re closing the current one. It’s important to plan ahead and have a strategy for your upcoming deals.

Mentioned in the show:

1. https://adonahuebaker.com/
2. https://preview.moneyave.com/wp/
3. His LinkedIn
4. www.shineinsurance.com/reiclarity
5. The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to A. Donahue Baker for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Our guest is Dan Handford, multifamily real estate investor and educator. Dan’s team is picking up multifamily properties at a pace that is almost unbelievable, buying multiple $80M-$90M properties in any given year. In this episode, we discuss how to structure your team and deals, how to raise money, and how to have great relationships with your investors, brokers, and developers.

Tune in and get inspired!

Learn more about Dan and his journey at reiclarity.com!

“Whenever you're trying to find someone to partner with, find somebody that complements your skill sets. You don't want to partner with someone that does the same thing that you do.”

 

03:02

Before investing in real estate, Dan had multiple non-surgical orthopedic medical clinics that he owned with his wife. They were very successful but Dan had to pay a lot of taxes on them. So he started researching how to reduce his taxes and stumbled upon real estate investing.

 

Dan started out as a passive investor. Soon he hired a mentor to shorten the learning curve and enaged in a few co-GP opportunities.

 

Around 4 years ago, Dan finally decided to get into real estate full-time. He started his company, PassiveInvesting.com, with 2 partners. The 3 main roles in the team are acquisition, underwriting, and investor relations. Dan is managing the investor relations piece.

“Your reputation is definitely the number one thing as to why people try not to retrade as much.”

 

17:07

Dan’s first deal was an $8.9M multifamily deal that he raised $2.5M for. He shares that his hardest deal was a $50M project at the beginning of the pandemic in March 2020. That was the only deal they had to retrade on, but in the end, they succeeded and raised $19M. 

 

Dan doesn’t recommend retrading often because it can damage your reputation in the industry. Reputation and good relationships are the most important factors for success in syndications.

 

Dan shares his predictions for the 2022 market. According to him, a lot is going to depend on the debt market. There is a lot of capital in the market right now that needs to be placed. In some of the primary markets, the cap rates will start to compress even below what they are now. He sees great potential in the higher-end secondary markets.

“The biggest thing for us has been just providing as much value as possible and not holding back.”

 

41:13

At the end of the episode, Dan picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Grow Your Community”.

 

According to Dan, in order to attract an audience, you have to be able to provide value to them. His community, the Multifamily Investor Nation Group has 45k members and he tries to share as much information with their audience as possible. This creates trust and helps them to have more impact in the industry.

Mentioned in the show:

1. https://www.passiveinvesting.com/
2. https://www.multifamilyinvestornation.com/
3. His LinkedIn
4. Robert B. Cialdini - Influence: The Psychology of Persuasion
5. www.shineinsurance.com/reiclarity
6. The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Dan Handford for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast

Our guests are Nick Earls and Eric DiNicola, the founders of Winterspring Capital, a multifamily investment and development firm. In this episode, we dig into the ins and outs of condo development. We break down the development process into 5 simple steps, talk about how to invest in big cities, and how to sell condos successfully.

If you’re interested in condo development, then join us in this conversation!

Learn more about Nick and Eric and their journey at reiclarity.com!

“Condominium development has been a really good pathway for us, and has allowed us to branch into long-term multifamily ownership.”

 

03:23

Nick and Eric have pursued many different real estate strategies during their career. They’re involved in condo development, multifamily, buy and holds, and flips around the Boston, Massachusetts area. 

 

They started their real estate journey with condo development. They initially wanted to buy rentals, but saw an opportunity in their local market for condos and have been using this strategy ever since.

“Marketing is key because the speed of sale is the biggest focus at the end to eliminate stress.”

 

11:05

Nick and Eric share the 5 main steps of condo development.

 

1. Tieing up the land.
   You should only purchase the land if you’re confident that you can get it permitted.
2. Zoning and planning.
   Work in tandem with the community and respect their insights. Your team is very important in the zoning process. Have a good zoning attorney and work with an architect who can make the property blend in with the environment.
3. The building process.
   Currently, labor is very expensive and supply chain pressures have driven up the price of materials. That this into account when you analyze a deal.
4. Breaking the property out into condos.
   In many cases, selling condos individually as rentals is more profitable than selling the whole property. However, it’s riskier as it’s harder to get lending.
5. Selling the property.
   Focus on marketing from the start of the construction. This way you can get the units under agreement ahead of time.

“Real estate is worth the risk. And it’s not as big of a risk as some people think.”

 

45:37

At the end of the episode, Nick and Eric pick action steps from the REI Clarity Framework that are the most valuable to them. These are “Take the Risk” and “Know Your Strategy”.

 

At the beginning of their real estate journey, Nick and Eric often got into analysis paralysis. However, as they progressed through their careers, they realized that real estate is one of the safest investment asset classes. If you’re confident in what you know, then take the risk. Worst case scenario is that you have to sell the property. 

Mentioned in the show:

1. https://winterspringcapital.com/
2. https://winterspringcapital.com/development-book
3. Nick’s LinkedIn
4. Eric’s LinkedIn
5. Their Instagram
6. www.reiclarity.com
7. www.shineinsurance.com/reiclarity
8. The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Nick Earls and Eric DiNicola for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
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Our guest is Melanie McDaniel, a real estate investor, capital raiser, and founder of Freestyle Capital Group. In this episode, we dive deep into gaining clarity on your investment journey. We talk about how to reach success fast, how to create a fund, and how to establish your mentors. Tune in and elevate your real estate journey to the next level.

Learn more about Melanie and her journey at reiclarity.com!

“The concept of trading your time for money versus owning a business and having your money making money was mind-blowing for me.”

 

05:54

Melanie was a park ranger for 9 years. In 2015, she read Rich Dad, Poor Dad and decided to move into real estate. She finished the Rich Dad, Poor Dad training program and became a real estate agent.

 

After 2 years, Melanie realized that her biggest passion was commercial real estate. She attended conferences, completed coaching programs, and focused on her education and eventually bought her first 24-unit.

 

Freedom of movement and freedom of time are very important for Melanie as she travels a lot. She can make these happen through commercial real estate.

“Clarity and staying in your lane are so important because if you try to do things that you don't love or you're not good at, you're going to be miserable.”

 

17:47

Melanie shares her investment strategy. She’s mostly in the value-add multifamily space, but invests in other secure asset classes like warehouses or industrial.

 

Melanie’s strength is in capital raising, so she only focuses on that area of real estate. However, finding a good sponsor for her deals is crucial. She looks for experience, morals and values, and reputation in a sponsor. She finds her sponsors through referrals. 

 

Staying in her lane of expertise and finding partners who have the skills she doesn’t have has been the foundation of her success. However, she suggests still being open-minded if you need to pivot.

 

Melanie is in the process of starting a real estate fund and transitioning into a fund manager role. Her fund will be a hybrid model between a blind fund and a single syndication.

“If you want to make a huge difference or you hit a plateau in your progress, then that's the time to consider a mentor or a coach.”

 

45:32

At the end of the episode, Melanie picks action steps from the REI Clarity Framework that are the most valuable to her. These are “Establish Your Mentors” and “Grow Your Community”.

 

Melanie explains that even though real estate investors should educate themselves as much as possible, they should also look into working with a mentor or a coach. Mentors can help elevate your business to the next level. It’s also important to find a suitable mentor as you grow or change lanes in your career.

Mentioned in the show:

1. https://www.freestylecapitalgroup.com/
2. Her LinkedIn
3. www.shineinsurance.com/reiclarity
4. The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity. 

 

Special thanks to Melanie McDaniel for taking the time to share so many great insights with us

 

If you enjoyed this podcast, there’s a couple of things we need you to do right now: 

•   SUBSCRIBE to REI Clarity on Apple Podcast, Spotify, or wherever you listen to podcasts 
•   While you there, please RATE & REVIEW the show 
•   SHARE with friends
•   Finally, please, JOIN the REI Clarity Facebook Group

Then, please share the show with whoever you think it will inspire.

Until the next time, We truly appreciate you listening.

Need the REI Insurance Guy?

More great stories & information at:

Youtube – Blog – Podcast