How to Build a Wildly Successful Short-Term Rental Company PART TWO

Today's Guest: Paul Wakim Paul is the co-founder of TwnSqr, a real estate technology startup devoted to breaking down the barriers of the real estate industry by providing homeowners and real estate professionals full control over the connections they make for their next real estate transaction. Paul started TwnSqr as a project to create an algorithm to predict who was going to sell their house next so he could buy more deals. Today, TwnSqr has reimagined how the real estate process works for buyers, sellers, agents, and investors, and it’s the most secure and fastest way to connect with the best person for your next real estate transaction on your own terms.   Highlights From The Show: We begin the episode with Paul sharing the evolution of TwnSqr since its inception right before COVID and how it currently works. Paul details how it has changed from being a real estate tool to a service that is one aspect of a real estate investor’s process.    Paul detailed a new program that they just launched called TwnSqr Enterprise that caters to investors that have a significant amount of properties to sell to form a direct integration with their Boost service, or their dispositions marketing service. Paul also gives a ton of credit to his partner Mitch that does most of the coding, and who he says is brilliant. Some customizations occur for each individual client, so Paul details this process.   I asked Paul to describe their avatar, or ideal client, and also to describe how the pricing works for their service. It is a monthly subscription service, but Paul goes into detail on how it actually works. He also goes into the integration of AI into their services.   This was a super detailed interview where I asked a lot of nitty-gritty kinds of questions so you want don’t miss another amazing episode of the Just Start Real Estate Podcast with Paul Wakim and get valuable information on how to unlock the potential of your dispositions process with TwnSqr! Notable Quotes:   “All TwnSqr is as of August 7th is a way for you to interface your existing systems and processes, your CRM, with our Boost service. There is no more seller-facing aspect to the platform.” Paul Wakim   “We have simplified things quite a bit to just being a plug-in for your CRM with the sole purpose of getting you interest in the properties that you have for sale.” Paul Wakim   “Any investor that has at least two properties to sell per month is our target market.” Paul Wakim   “You are using the existing client’s buyers list in addition to going out and getting more people to opt into TwnSqr to maximize who is seeing the properties - more eyeballs.” Mike Simmons   “Tell me why I would want to utilize your done-for-you service when I already have a fully operational, successful, talented dispositions team and/or person and/or process. Like why would I hand over the reins to something that is working really well?” Mike Simmons   “We found out not only was that sales pitch incorrect but also the execution was incorrect.” Paul Wakim   “It is worth combining your existing systems and processes with our boosting system because it is a supplement - it is like a turbocharger for an engine.” Paul Wakim   “Once the integration is built, we are off to the races together.” Paul Wakim   “Simplicity is where the actual value is.” Paul Wakim   “Simple is scalable.” Mike Simmons   “TwnSqr today is as bad as it is ever going to get. It is only going to get better.” Paul Wakim Thank You for Listening! Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook   Help Out the Show: Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one. Subscribe on iTunes.   Resources and Links From Today's Show: Mike’s Email TwnSqr Paul Email  Paul on LinkedIn Paul on Instagram Paul on Twitter  Paul on Youtube   More Resources From Mike: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months WINNING DIRECT MAIL - How to CRUSH IT with direct mail!

Today's Guest: Erin Helle In this episode, I interview fellow real estate investor and return guest, Erin Helle. Erin begins by giving us her background and what brought her to real estate investing. She began her career in the military, first attending West Point Academy and then serving on active duty. Because her husband was also in the service, they knew that both of them being on active duty would be short-lived as they planned to start a family. She resigned her commission after about eight years of active duty and she began to explore real estate as a way to earn an income and be present for her family.   Highlights From The Show: We go back over Erin’s story because it is so inspirational! Her business has just exploded since we last talked on the podcast in 2020. We discuss all of the different types of investing she is involved in and the various markets, as well. She related that she has invested in short-term rentals, but doesn’t like it as an investment model because it isn’t passive at all.    We then talk about the event that Erin is hosting called Financial Freedom Summit. It is being held at the Wynn Las Vegas on September 2nd & 3rd, 2023. It is an exclusive event to inspire personal, professional, and financial development. Military veteran leaders in the real estate investing industry will guide the participants to build their blueprint for total financial freedom. But Erin wanted me to understand that it was the community of veterans that gave her the courage to get started in real estate investing, which is why she decided to give back to veterans through her summit. Erin went over the different topics, speakers, and breakout sessions that will happen throughout the weekend. Erin also detailed how some of the sponsors backing the event are providing scholarships to the event for service members that may not otherwise be able to afford to attend.   Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Erin Helle and learn about everything she has been up to since the last time she was on the show! Notable Quotes:   “This is a great industry and there is a lot of opportunity, but it isn’t necessarily for everyone.” Mike Simmons   “I hate the short-term rental game. I hate everything about it.” Erin Helle   “We use any cash we can come up with to build our portfolio.” Erin Helle   “I am a very left-brain, logical decision-maker.” Erin Helle   “I don’t really have the personality to talk to STR guests.” Mike Simmons   “It was the network of other West Point grads, and other veterans, in the space that helped me get my start and help me take that first step and then scale.” Erin Helle   “There is a lot of value in networking events.” Mike Simmons   “I have been amazed at the generosity of the people speaking and putting on this event.” Erin Helle   “The value of being in a room with these investors is like an education on steroids.” Mike Simmons     Thank You for Listening! Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook   Help Out the Show: Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one. Subscribe on iTunes.   Resources and Links From Today's Show: Previous Episode with Erin Financial Freedom Summit Erin’s Website Erin on Facebook Erin on Instagram Erin on YouTube More Resources From Mike: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months WINNING DIRECT MAIL - How to CRUSH IT with direct mail!

Today's Guest: Chris Logan I am excited to have my friend and fellow investor, Chris, on the show today! He is a super smart investor that is passionate about teaching people how to invest outside of their home market.   Highlights From The Show: We start the interview as we always do by getting some of Chris’ background and how he got started in real estate investing. He was introduced to real estate (like so many others) by reading Rich Dad Poor Dad and then signed up for an investing course with his wife, Heather. They began their business by wholesaling properties and Chris said during that time they tried fix and flipping, but that strategy did not appeal to them. They built their wholesaling business into a 7 figure business and wanted to focus on the one thing that they were really good at.   We then discuss wholesaling in markets other than where one lives, which is what Chris primarily does. He said when he is picking a new market, he looks at the population and median home prices. I asked him what specifically he is looking at regarding the population and he said they look for a population between 250,000 and 500,000 people because you know that many houses will be bought and sold and also that it is an area that people want to be in. Chris also recommends using the power of local Facebook groups to build your buyers list and network.   Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Chris Logan to learn the ins and outs of virtual wholesaling!   Notable Quotes: “You are just going to drop value, I know it.” Mike Simmons   “Rich Dad Poor Dad is like the gateway drug for real estate investing.” Mike Simmons   “Flipping is more of a construction business and wholesaling is a sales and marketing business.” Chris Logan   “I am not the biggest fan of flipping, either. I get burned out with the contractor situation.” Mike Simmons   “It is not like you take a wholesaling course and then money starts falling from the sky.” Chris Logan   “We don’t start investing in a market because we want to be there - we follow the money.” Chris Logan   “I like starting in an area where I have a runway to scale.” Chris Logan   “I think you should build your buyers list before you market for sellers, especially if you are a brand new investor.” Chris Logan   “Massive and perfect action is what you want to focus on.” Chris Logan   “Our mentality is ‘keep it small, keep it all.’” Chris Logan   “Let’s do deals together!” Chris Logan   “Massive action is the cure for most things.” Mike Simmons   Thank You for Listening! Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook   Help Out the Show: Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one. Subscribe on iTunes.   Resources and Links From Today's Show: Rich Dad Poor Dad The ONE Thing Mailchimp Aweber PropStream Chris on Facebook Virtual Wholesaling Made Simple Mike on Facebook   More Resources From Mike: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months WINNING DIRECT MAIL - How to CRUSH IT with direct mail!

Today's Guests: James Svetec & Riley Oickle One of the world's foremost Airbnb experts and the co-author of Airbnb for Dummies, James has helped over 1,000 students all over the globe leverage the power of short-term rentals as a vehicle for cash flow and wealth. James is the industry's go-to expert when it comes to mastering performance and streamlining operations. He consults with more than 600 property management companies around the world. Riley is a Canadian real estate investor and mentor who specializes in multi-family residential investing through BRRRR and joint venture strategies. Throughout the journey of buying his first income property in the Southwestern Ontario area, he realized that there is a real need in the market to help people go through this process more easily. Today, he owns a real estate portfolio worth over $8 million and has helped new investors buy their first properties without wasting time and money on trial and error. Highlights From The Show: This is a continuation of the show we posted a couple of weeks ago, discussing the ins and outs of short-term rental investing. We talk about financing, management, software, the science behind listings, and so much more! Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with James Svetec and Riley Oickle and learn more about how to build a wildly successful short-term rental company! Notable Quotes: “Typically, management costs 20% of your revenue.” Riley Oickle   “We find that if you have a short-term rental property 1-2 hours outside of a major urban area, it is a great opportunity for people to staycation.” Riley Oickle   “I would love to have the company motto: I don’t do anything personally, but my company handles everything in-house.” Mike Simmons   “Almost all issues will come from one-night stays.” James Svetec   “The check-in process is really important because it is your guest’s first impression of your property, so you want it to be very easy.” James Svetec   “I am the baby boomer of the group.” Riley Oickle   “We recommend that people price their STRs manually at the beginning.” James Svetec     Thank You for Listening! Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook   Help Out the Show: Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one. Subscribe on iTunes.   Resources and Links From Today's Show: Minut Noise Monitoring NoiseAware Nest August Lock Hostaway Hostfully PriceLabs AirDNA AllTheRooms Mashvisor Motel Makeovers BNB Inner Circle James on Instagram Riley on Instagram   More Resources From Mike: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months WINNING DIRECT MAIL - How to CRUSH IT with direct mail!

Today's Guests: James Svetec & Riley Oickle One of the world's foremost Airbnb experts and the co-author of Airbnb for Dummies, James has helped over 1,000 students all over the globe leverage the power of short-term rentals as a vehicle for cash flow and wealth. James is the industry's go-to expert when it comes to mastering performance and streamlining operations. He consults with more than 600 property management companies around the world. Riley is a Canadian real estate investor and mentor who specializes in multi-family residential investing through BRRRR and joint venture strategies. Throughout the journey of buying his first income property in the Southwestern Ontario area, he realized that there is a real need in the market to help people go through this process more easily. Today, he owns a real estate portfolio worth over $8 million and has helped new investors buy their first properties without wasting time and money on trial and error. Highlights From The Show: We start, as we always do, with my guests providing us with a bit of their background and how they got into real estate investing. Riley originally went the multi-family investing route and James was managing short-term rentals for other owners. They met through a mutual contractor, realized they had complementary skills, and decided to begin investing in short-term rentals together. Additionally, they do short-term rental coaching.   I observed that the short-term rental industry existed before COVID but that it had exploded because of peoples’ need for a safer environment than a hotel when traveling. I asked the guys several questions pertaining to this so that we could dig into the state of the short-term rental industry in 2023. James pointed out another factor to this was that more people were staycation-ing because they didn’t want to get on airplanes to travel. Many of the STRs in rural areas within easy driving distance of large cities experienced a boom as well. He said overall the industry is still trending up from pre-COVID numbers, but it has slowed down somewhat as the pandemic fears have decreased.   We talk about market and property evaluation, market area regulations, resources for aggregating data, common mistakes, various portfolio-building ideas, and so much more! Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with James Svetec and Riley Oickle and learn how to build a wildly successful short-term rental company! Notable Quotes: “So they were like dog years basically.” Mike Simmons   “Complete immersion in investing is different than dabbling on and off as a hobby for 10 years.” Mike Simmons   “I was totally immersed in the short-term rental and Airbnb space, but I had never bought and owned my own property.” James Svetec   “We each had those complementary skill sets.” James Svetec   “There is the bird’s eye view which is market analysis and then the more micro level which is property analysis. If someone has investing experience, they would be familiar with both.” Riley Oickle   “We not only look at what the regulations are in a particular area but where we suspect they might go in the future.” James Svetec   “Those properties are very expensive because the area is very prestigious.” James Svetec   “I wouldn’t say that an area having no regulations is a red flag, but it is a yellow flag, for sure.” James Svetec   “It is boring, but you need to read the actual regulation, not an article in the local paper outlining what they think the regulations are.” James Svetec   “The AirDNA data is really solid if you know how to use it.” James Svetec   “I call it paper napkin math.” Riley Oickle   “Beginning investors often evaluate properties based on emotion and that just doesn’t work. You need to be very analytical.” Riley Oickle   “There is no way around it - if you want to do something right the first time and save money and time, you get a coach, you find a mentor, a mastermind.” Mike Simmons   “I am just geeking out on all of the stuff you talked about.” Mike Simmons   Thank You for Listening! Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook   Help Out the Show: Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one. Subscribe on iTunes.   Resources and Links From Today's Show: AirDNA AllTheRooms Mashvisor Motel Makeovers BNB Inner Circle James on Instagram Riley on Instagram   More Resources From Mike: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months WINNING DIRECT MAIL - How to CRUSH IT with direct mail!

Today's Guest: Tyler Jensen I am excited to have my friend Tyler on the show today! We are also fellow 7 Figure Flippers and he is just the kind of guest I love to have on - someone who is an expert in his field and willing to let me pick his brain!   Highlights From The Show: We start the interview like we often do with Tyler sharing his real estate background. He began flipping houses in 2008 as a way to help pay for his college education. He was taking classes and working full-time, so real estate was a side hustle at that point. For years, while working another job, he continued to flip houses because he knew it was an excellent vehicle for building long-term wealth. Tyler talks about how he honestly thought his career was going to be in corporate America but realized he could be successful with flipping when he was able to pay his tuition with the proceeds from his third deal. Joining the 7 Figure Flipping Mastermind was a turning point for Tyler and his business because he was surrounded by very successful investors that encouraged him and helped him scale.   Tyler explains his struggles with the lifestyle of being a corporate executive and how he was really trading time for money. He wanted to find a way to have both financial freedom and freedom of time so that he could be a good and present husband and father. After talking to his wife (and he tells us how this conversation went), he decided to pursue his dream of being a full-time investor. He went to Flip Hacking Live, joined the mastermind and his business exploded, doubling the deals performed several years in a row. We also dig into the process he created called the 7 Day Flip, in addition to Tyler’s thoughts on the current housing market.   Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Tyler Jensen and learn how you can succeed in finding both time and financial freedom through real estate investing! Notable Quotes:   “I knew that real estate was a great way to make income, so I started early.” Tyler Jensen   “On our first flip, we did everything wrong, so it was a great education in real estate.” Tyler Jensen   “When I started flipping houses, it was a side hustle with the goal of helping to pay for college.” Tyler Jensen   “The year 2008 was actually a great time to get into real estate.” Mike Simmons   “In my corporate job, I was trading time for money and I realized it was really hurting me because I could never unplug.” Tyler Jensen   “We have amazing women behind us that have our backs.” Tyler Jensen   “The biggest thing in any flip is that you have to control the time, the budget, and the quality of work you are putting out.” Tyler Jensen   “That system and process is critical to getting things done fast.” Mike Simmons   Thank You for Listening! Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook   Help Out the Show: Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one. Subscribe on iTunes.   Resources and Links From Today's Show: Tyler’s Website 7 Day Flip 7 Figure Flipping   More Resources From Mike: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months WINNING DIRECT MAIL - How to CRUSH IT with direct mail!

Today's Guest: Erin Maney I am excited to have my friend Erin on the show today! She is a fellow 7 Figure Flipper and shares her recent real estate investing journey with us with the hopes that it will encourage other investors who may be struggling.   Highlights From The Show:  Erin begins by sharing a bit of her background with us. She began investing about four years ago while still working full-time. She has a wholesaling company in the Milwaukee area and decided to put in her notice last June to focus on investing. With the manner in which the market changed last year though, she began to have some struggles. She said they had never had to give a lot of attention to their buyer’s list or their disposition process before, but then their buyers started dropping out. Erin was trying to build a company and hire employees, but thought if she couldn’t make it work for herself, how could she possibly empower others?   Because we are both part of the 7 Figure Flipping Mastermind, when Erin expressed that she was having some difficulties, we were able to get connected and talk it out. She said she was thinking of their company as a marketing and sales company and was reminded through our conversation that her greatest asset was their buyers. Erin said that she had not marketed to grow their buyer’s list at all and so she set a goal of adding 40 people to their list every week. Very quickly she saw that her efforts were making a difference and it confirmed how important it was for her to focus on their buyer’s list.   I asked Erin what her plan is for 2023 and she talked about how much she loves wholesaling, but because of the strength of her team, she is looking at exit strategies. She would like to take herself out of the day-to-day operations so that she can focus on building long-term wealth.   What a transparent and honest interview with Erin Maney who is battling through some investing struggles and thriving! Don’t miss the latest episode of the Just Start Real Estate Podcast!     Notable Quotes:   “I was able to give her some advice to turn that ship around.” Mike Simmons   “You can survive in any market.” Mike Simmons   “I am a big fan of Mike Simmons.” Erin Maney   “While initially, I felt like the wind was at my back, with the market change I felt like I was running into the wind, and I hadn’t experienced that before.” Erin Maney   “I had so much fear as to what was to come.” Erin Maney   “You really reminded me of the fundamentals of underwriting that I really needed to get back to.” Erin Maney   “A wholesaling company’s value is completely linked to the strength of their buyer’s list.” Mike Simmons   “You probably saved me from going back to federal government employment!” Erin Maney   “Our most savvy, long-term buyers are not going to be our best buyers as far as profit.” Erin Maney   “Execution is the key.” Mike Simmons     Thank You for Listening! Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook   Help Out the Show: Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one. Subscribe on iTunes.   More Resources From Mike: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months WINNING DIRECT MAIL - How to CRUSH IT with direct mail!

Today's Guest: Ted Bradshaw Ted Bradshaw served as an executive with Xerox and IBM, then left the Fortune 500 world to explore the thrills of entrepreneurship. What he found was a long string of success that looked great on the surface. But underneath it all, he felt anxious, exhausted, and stressed, chasing money wherever it led and wondering why he never felt fulfilled. Along his journey, Ted gained valuable insight into how a person can achieve fulfillment in all aspects of life and he shares those insights with his best-selling book, Stop Chasing Squirrels.   Highlights From The Show:  We begin the interview with Ted giving us a bit of his background, which is diverse and super interesting. From a dabble in real estate investing to video games, to online classrooms, and diagnosing cancer through nuclear medicine, it seems as though Ted has truly done it all. Today, Ted lives his passion in helping others find theirs. A leading proponent of the Entrepreneurial Operating System®, Ted is a speaker, author, an Expert EOS Implementer™, and the Community Leader for EOS Worldwide. Ted then breaks down the framework of the system for our listeners.   I then asked Ted to talk about his latest project, his book, Stop Chasing Squirrels. He relates that he wrote the book as therapy because he got caught up in setting goals and never really felt successful, even though all of the external markers reflected exactly that. He confesses that this issue was affecting him in very serious ways, including marital discord and panic attacks. He saw it with other entrepreneurs, as well. As soon as they were able to get their businesses under control by implementing EOS, they were left with the reality that they were not personally happy. It was almost as though having business chaos was a distraction from having to work on themselves.    Ted had mentioned that he had at one point followed a real estate squirrel, so I asked him to share that with us. Ted talked about how his father was in real estate and taught him that it was all about building value over time. He started investing in single-family homes, like many of us, and that led to multi-family units and then new construction. He saw that even when particular units were experiencing issues, real estate was still a successful endeavor for him. He decided to go all in on a larger project and unfortunately ended up working with a high-end construction company that went out of business and he spent the better part of two years cleaning up the resulting mess. Ted said that he learned so much from this experience, even with as difficult as it was.   Don’t miss the latest episode of the Just Start Real Estate Podcast with Ted Bradshaw who openly and honestly shares his entrepreneurial journey with us! Go check out his upcoming webinar and course at TedBradshaw.com!     Notable Quotes:   “I have started six companies - four of them are success stories and two of them were learning opportunities.” Ted Bradshaw   “It was a ‘go big or go home’ kind of idea and we ended up going home on that one.” Ted Bradshaw   “You don’t just wake up one day and accidentally find yourself in that field.” Mike Simmons   “I am a big believer in serendipity - things happen for a reason.” Ted Bradshaw   “Please tell me you didn’t find yourself in the Middle East on some black market run.” Mike Simmons   “In three hours we were working through things that previously it has taken us three years to get to.” Ted Bradshaw   “I don’t pretend that everyone here hears all of my episodes and does everything I say, but I have been preaching the book Traction and the EOS system for years.” Mike Simmons   “If your listeners look into EOS, they will find that it is a simple system, but it is also timeless.” Ted Bradshaw   “EOS is systemized - it is the ‘how to.’” Ted Bradshaw   “The picture can’t see the frame.” Ted Bradshaw   “It does help companies move forward when people know they are going to be held accountable.” Mike Simmons   “So how dialed in is your BS meter?” Mike Simmons   “It is amazing how many people tie their identities to their business and stay in it longer than they should because of it.” Mike Simmons   “It starts, fundamentally, with purpose.” Ted Bradshaw   “We need some guardrails to keep us on track.” Ted Bradshaw   “Go past Terry Bradshaw - that is not me!” Ted Bradshaw   Thank You for Listening! Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook   Help Out the Show: Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one. Subscribe on iTunes.   Resources and Links From Today's Show: Ted’s Website Ted Bradshaw LinkedIn Ted Bradshaw Twitter Ted Bradshaw Instagram Traction EOS Worldwide What the Heck is EOS? Stop Chasing Squirrels This Naked Mind   More Resources From Mike: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months WINNING DIRECT MAIL - How to CRUSH IT with direct mail!

Today's Guest: Candy Valentino I am excited to welcome Candy to the show today because she has such an impressive and diverse resume! Candy started her first business at 19 years old with no degree, no corporate background, no money, and no internet. She successfully started, scaled, and successfully sold businesses in service, retail, e-commerce, and product manufacturing in addition to creating a vast real estate portfolio as a flipper and investor.  At 26, Candy founded a non-profit charity. Through her business success, she bought and donated a building to the organization. Since then they have saved thousands of lives and Candy has been actively involved, personally raising millions for the charity.  During her two and half decades as an entrepreneur, she has been named to Top Business Leaders 40 Under 40, Top 50 Women In Business, 10 People Making a Difference, Top 10 Business Consultants by Yahoo Finance, and was the youngest female to receive the Governor’s Award in Entrepreneurship in Pennsylvania. Candy was recently selected by Success Magazine as one of just 6 ‘Women of Influence’ and additionally listed to ‘Leaders Who Get Results’ with names like Will Smith, Gary Vee, and Brene Brown.   Highlights From The Show:  Candy starts the show by sharing some of her background. What makes her accomplishments even more impressive is that she basically came from nothing. Both of her parents had blue-collar jobs and gave birth to her in their teens. She thought initially she would be the first person in her family to earn a college degree, but was amazed that her professors were teaching her about running a business when they didn’t have one of their own! This launched her into her entrepreneurial journey.   Candy has a lot of diverse projects, but I wanted to see what her real estate journey has been like and if she was still investing. She said absolutely she is still investing and part of what she loves about it is its flexibility. Candy talked about how much she loves the design process and managing contractors, so she has continued to hold some of her properties after rehabbing them, but she really loves the flipping process. She shares that it has been important for her to remain somewhat conservative with her investing because the only person she has to rely on for money is herself. Now she is able to flip in the millions and her last project was a $4.5M total gut property. We also talk a bit about how she was positioned in 2008 to avoid the housing market crash.   Because Candy is involved in so many different businesses, I asked her what life hacks she uses for productivity and staying focused. She talks about how much she really loves being an entrepreneur and continually being pulled in different directions. She emphasizes how important staying disciplined and focused on your goals is and not following the next shiny object. Candy states that most people are not willing to put their heads down, focus, and play the long game, and so therefore, their businesses really suffer or never get off the ground. She says she has a productivity grid that she focuses on every day to perform the top three, absolutely necessary tasks for each project or business that she has to get done in order to move it forward. She also keeps her phone face-down and on silent all of the time until she is ready to handle the incoming texts and emails.   We then spend some time discussing Candy’s book, Wealth Habits: Six Ordinary Steps to Achieve Extraordinary Financial Freedom. She calls it a no-BS guidebook because she wanted to be honest and clear with people about how to build financial freedom that isn’t couched in flowery language. She stresses if anyone just does these things and does them consistently, they can find success as she has.    What a refreshingly honest interview with Candy Valentino who was a ton of fun for me to interview! Don’t miss the latest episode of the Just Start Real Estate Podcast with this very special and incredibly successful guest!     Notable Quotes: “I just couldn’t reconcile in my 18-year-old brain how my college professor was teaching me about business when he didn’t have one himself.” Candy Valentino   “We can tell you the best strategies for building wealth, but if you hate your life, you are not going to be able to sustain it for very long.” Candy Valentino   “I don’t necessarily know how to repair cars, but I do tend to know more about cars than most of the guys in my circle.” Candy Valentino   “The minute self-employed people stop working, they stop making money. That isn’t a business, that is a job.” Candy Valentino   “I didn’t want to continually trade time for money.” Candy Valentino   “When people know, like, and trust you, they want recommendations of what to buy.” Candy Valentino   “I am not educated, I don’t have an MBA or some fancy letters. This is really just self-education by reading books in my office.” Candy Valentino   “We learn from mentors or by making mistakes, and the latter is a lot more expensive and timely.” Candy Valentino   “You didn’t have any pre-built doubt. Sometimes the most powerful thing you can have is ignorance.” Mike Simmons   “When the expectation is low, you don’t have to do much to impress people.” Candy Valentino   “I know people who basically committed business suicide in 2008 because they were so over-leveraged.” Candy Valentino   “When we look at the data from any type of market, winter always comes.” Candy Valentino   “I just stick with what I know.” Candy Valentino   “If you haven’t been doing this for 20 or 25 years, you absolutely should be playing in this below-median house range.” Candy Valentino   “I love entrepreneurship, I love investing, I love being pulled in a million directions.” Candy Valentino   “Before my feet hit the floor, I find five things I am grateful for.” Candy Valentino   “That would be my book - ‘The So-NOT Miracle Morning’!” Mike Simmons   “To do anything new, you just have to have a little more courage than fear.” Candy Valentino   “If you want to just make a bunch of money, you will miss the entire point of building wealth. Building wealth is so that you can have freedom.” Candy Valentino     Thank You for Listening! Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook   Help Out the Show: Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one. Subscribe on iTunes.   Resources and Links From Today's Show: Wealth Habits: Six Ordinary Steps to Achieve Extraordinary Financial Freedom Candy on Instagram Candy on Facebook Candy on TikTok Candy’s Website (for bonuses!)   More Resources From Mike: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months WINNING DIRECT MAIL - How to CRUSH IT with direct mail!

Today’s Guest: Ryan Murdock Ryan spent ten years in the electronics manufacturing industry before transitioning to real estate investing and property management in 2007. Today, he is VP of Acquisitions at Open Door Capital, a real estate investment company from Bigger Pocket’s Brandon Turner. Ryan has extensive management experience in many facets of real estate including retail, office, multi-family, HOA, nationwide consulting, and mobile home parks. He has been a licensed real estate broker since 2008 and owns and operates a portfolio of residential rental properties.   Highlights From The Show: Before Ryan got into real estate investing, he worked as a production facility technician in the electronics manufacturing industry, traveling all over the world. His priorities really changed when he got married and found himself having to decide if he wanted to continue to live overseas. He bought his first rental property when he was thirty years old and has been building his “empire” ever since!   Ryan’s first investment was in a duplex in Bangor, Maine and he lived on one side while renting out the other, “house hack” style. He financed this investment very traditionally and talks about how this was his first experience with having difficult tenants to deal with. He bought a few more duplexes and was looking aggressively at foreclosures to find other deals, while at the same time, he started his own property management company. He ran this company himself for about five years and then eventually paired up with a bigger management company that had a network of employees that he did not. At about this same time, he also got his real estate license so he could pursue his own deals.   Eventually, Ryan got to a point with his own portfolio where he was able to leave this company and go back to managing only his rental properties, aided by much better systems, technology, and automation. As he started to broker other deals and do some consulting, it made sense for him to give the project management portion to his past employers so he could spend his time in more profitable endeavors.   Ryan utilizes the BRRRR strategy with his properties, so we spent some time discussing how that worked for him. He talked about how he was completely reinvigorated by finding the BiggerPockets podcast and learning about different strategies that he had not yet explored. It made him take a hard look at his portfolio and get money out to use as working capital to invest in more properties. He encourages our listeners to take a hard look at their own properties in order to maximize their cash flow.   I then asked Ryan what made him pick up his life and move to Maui and join forces with Brandon Turner. Ryan and Brandon had partnered to buy a mobile home park and developed a relationship through that process. When Brandon moved to Maui, he asked Ryan to come out and give him a hand, and a week-long stay turned into a month. Brandon eventually hired Ryan as his personal assistant.   Because Ryan initially hooked up with Brandon by feeding him a mobile park investment lead, we spent some time exploring this investing strategy. Ryan talked about how to evaluate these types of investments and the techniques they used to add value to these communities. Once Ryan moved to Hawaii, they got really invested in Open Door Capital, Brandon’s company which exclusively buys mobile home parks. At the time of recording, they owned about 10 different communities with approximately 1500 lots. Ryan went into quite a bit of detail about what they look for in an investment of this kind and also the type of investor that they look for to partner up with them. He also pitched the “Bring Brandon A Deal” promotion they are running now if someone finds them an off-market mobile park deal.   Ryan has an incredibly diverse background in investing and in life, so you do not want to miss this entertaining and informative episode of the Just Start Real Estate Podcast!     Notable Quotes: “The real driving factor for getting into real estate was that I just couldn’t see myself in another corporate job for the next thirty years.”   Ryan Murdock     “I went on Amazon and bought every real estate and property management book they had because I had no idea what I was doing.”   Ryan Murdock     “Maybe if I had read some different or better books I wouldn’t have made so many mistakes.”   Ryan Murdock     “If I am going to be married to my own rental properties, I might as well start managing some for other people and generate a little income.”   Ryan Murdock     “If you feel like you are getting close to hiring help, you are probably already past the point when you should.”   Mike Simmons     “I think a lot of people are like me - I had 10 cents in my bank account and every day is a struggle to hustle.”   Ryan Murdock     “There are different tiers to financial freedom… it doesn’t happen overnight.”   Ryan Murdock     “Finding and listening to the BiggerPockets podcast really lit a fire under me again.”   Ryan Murdock     “I encourage other investors to keep an eye on their properties’ financials.”   Ryan Murdock     “I just want to buy and hold everything.”   Ryan Murdock     “Because of Brandon’s platform and reach, he is able to attract some extremely talented people.”   Ryan Murdock     “I’m always amazed at the ways you can make money in real estate.”   Mike Simmons   Thank You for Listening! Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook   Help Out the Show: Leave an honest review on iTunes. Your ratings and reviews really help and I read each one. Subscribe on iTunes.   Resources and Links From Today's Show: Real Estate Investing for Dummies Property Management for Dummies BiggerPockets Podcast Open Door Capital   More Resources From Mike: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months WINNING DIRECT MAIL - How to CRUSH IT with direct mail!