Build to Rent Investing & 24 Years in Real Estate with Jim Sheils
18 godzin temu
27:48Delve into the captivating world of real estate with Jim Sheils, a full-time real estate investor with 24 years of experience and a fascinating journey of mastering the build-to-rent strategy. Jim shares insight into his lifestyle of working and adventuring, his family education company 18 Summers, why retirement does not interest him, and his advice for investors looking to get involved in building to rent properties. Learn what areas are best avoided when investing in rental properties, the pros and cons of specific designs, the importance of due diligence in property insurance, and much more. Tune in now and understand why building and renting properties can be a great way to generate income! [00:00 - 07:17] Journey From Real Estate Investor to Build-to-Rent Strategy Introducing Jim to the show What keeps him going is the "how" - the ability to work and play from Costa Rica, spend time with family, keep up with health, and take adventures [07:18 - 14:55] Making Build to Rent Deals Work Focus on high-growth markets with population growth, economic growth, affordability index, and desirable factors Properties are B+ class with extra finishes like vinyl plank flooring, granite countertops, etc. Go for established neighborhoods with a good mixture of renters and owners Have to go to designs for different areas based on hurricane safety and aesthetics [14:56 - 24:22] The Importance of Due Diligence and Property Insurance Owning too many properties can be a ten-year ache and pain Insurance costs have gone up in Florida, but vary by area and age of home New construction is rewarded with lower insurance premiums Due diligence is essential: visit the site and do market analysis [24:23 - 27:48] Closing Segment Best investment: Jim's family life Worst investment: Jim's first properties in Jacksonville, Florida The most important lesson learned: play to your strengths, not your weaknesses Quotes: "We always try to go to high-growth markets. We're only focused on Florida because we believe in the fundamentals here. We believe in the landlord laws here, which are super important when investing. You've got to be able to collect your rent." - Jim Sheils "If I could go back 24 years, I'd own less property, a better quality with less leverage." - Jim Sheils Connect with Jim! Book: Passive Income Playbook Website: https://jjplaybook.com Apply to Invest with Taylor at www.investwithtaylor.com Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com Please leave a review and help others escape Wall Street and build wealth on Main Street!
Balancing Family, Life, W-2, and Real Estate. How Does She Do It? with Aileen Prak
2 dni temu
29:40Have you ever felt overwhelmed balancing family, work, and ambitions to build wealth through real estate investing? How does one give adequate time to their family, refine investment strategies, and still achieve their financial goals? In this episode, Taylor welcomes Aileen Prak to discuss balancing life, family, work and real estate investing. Eileen shares her experience setting priorities and goals and refining the investment strategy with her husband. She talks about managing multiple family, work, and investment commitments, including building a network of connections, creating relationships, and setting small goals. She also explains how two partners with different skill sets can successfully work together to achieve their goals through communication and compromise. Tune in for an insightful conversation on maintaining balance while building wealth! [00:00 - 06:12] Balancing Life, Family, and Real Estate Investing Focus on the importance of time and how to spend it Set priorities, goals and delegate responsibilities Invest in multifamily apartments outside of your comfort zone Leverage the experience of a sponsor to learn and be passive investors [06:13 - 11:26] Leveraging Strengths and Weaknesses to Achieve Goals The power of leveraging off each other's strengths and weaknesses Having a support network for help with kids and other tasks Identifying individual strengths and weaknesses Communicating effectively to divide and conquer tasks Creating a division of line between what is enjoyed doing and what is good at doing [11:27 - 19:31] Navigating Business Goals Together Set goals based on family and overall life quality Break down goals into smaller steps Handle disagreements by understanding each other's perspective The end goal is the same, but how to get there may require compromise [19:32 - 24:07] Achieving Financial Independence and Spending Time with Family Don't forget why you are doing it in the first place Grow business to have time freedom and be able to spend it with kids Expose kids to real estate without limiting beliefs Enjoy current job and make a decision when one of them wants to leave [24:08 - 29:40] Closing Segment Best investment: first house bought Worst investment: a property with high deferred maintenance and low market value The most important lesson: always walk away from a bad deal Quotes: "I wanted to gain more time and freedom to spend more with my family, not be dependent on that W-2, and have that choice to continue working because I wanted to, not because I had to." - Aileen Prak "If you can overcome those limiting beliefs, you can get there and start so much quicker without having to feel like you're not enough. And you totally are, but you need to start making the right moves and start getting outside of your comfort zone, networking with other people." - Aileen Prak Connect with Aileen! Website: https://bonavestcapital.com Podcast: How Did They Do It? Real Estate Apply to Invest with Taylor at www.investwithtaylor.com Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com Please leave a review and help others escape Wall Street and build wealth on Main Street!
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SEC Charges Alleged Real Estate Ponzi Scheme
11:54The SEC on Monday announced charges against an alleged Ponzi scheme. Let's dig into their complaints and steps investors can take to protect themselves before getting into a scam. More info on the complaint: https://www.sec.gov/news/press-release/2023-196 Learn more about investing with Taylor at https://www.passivewealthstrategy.com/join-the-investor-club/
World Travel by Investing in Self-Storage with Erik Hemingway
26:23Have you ever dreamt of breaking the chains of routine, retiring early, and traveling the world? In this episode, we chat with Erik Hemingway, a highly experienced self-storage investor who achieved early retirement and used his wealth to travel the world. We discuss his journey of building his first storage in Arizona in 2006, moving to Costa Rica a year later, and living on a sailboat in Greece for three and half years while traveling to 24 countries. We learn how they sold their cars, houses, and possessions to make the journey possible and met other boaters who encouraged them. After returning to the US, Erik reveals how he invested in fixing and flipping, constructing buildings, and converting them into storage units to build a nest egg. Join us as we dive deep into Erik's story of taking risks and achieving financial freedom through self-storage investing! [00:00 - 07:47] From Construction to Self Storage Investor Introducing Erik to the show He and his family took an early retirement through self-storage investing and traveled the world [07:48 - 15:17] Exploring the Possibilities Through Boating and Real Estate Investing Living on a boat is economical and freeing Found fix and flips, built new construction, and got back into storage Launched Nomad Capital off the boat adventure [15:18 - 22:47] Facing Fear and Following Gut Heavy-value add projects like renovating old buildings, grocery stores, K-marts, hosiery mills, and soda bottling facilities Fear is a muscle that you can exercise [22:48 - 26:23] Closing Segment Best investment: Worst investment: The most important lesson learned: Quotes: "One key thing about life is always being willing to be surprised. Let life surprise you. And it's certainly done that for us. And I think that's a great way to live." - Erik Hemingway "It's surprising how little you can live on when you're just not distracted by everything that everybody's telling you when you're not kind of sucked into the consumer stuff of just every day on the treadmill." - Erik Hemingway "Fear is kind of a muscle that you can exercise. And as you step out of your comfort zone, that muscle gets strengthened suddenly. The next stretch is not so hard." - Erik Hemingway Connect with Erik! Website: www.NomadCapital.us Email: [email protected] Phone: 910-431-3855 Apply to Invest with Taylor at www.investwithtaylor.com Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com Please leave a review and help others escape Wall Street and build wealth on Main Street!
Raising Institutional, Family Office, and Retail Capital with Fred Pierce
32:20How does a young intern with a passion for real estate go on to raise over 1.2 billion for student housing projects? Dive into the world of Fred Pierce, an experienced and successful investor who has raised over 1.2 billion in investments for his student housing projects across 39 states. He'll dive into how he jumped the queue and attracted capital from institutional investors, family offices, and retail investors. We'll hear about the different tiers of investor capital, from friends-and-family capital to country club capital to family office and institutional investors. He'll also walk us through his capital life cycle in commercial real estate and explain the advantages and disadvantages of each type of investor. Tune in to gain powerful insights from Fred Pierce! [00:00 - 06:22] Becoming a Billion-Dollar Student Housing Investor Fred Pierce is an experienced real estate investor, having done over 1.2 billion in student housing projects His journey started when he was 21 and interned at the Goodkin Group, a market research firm He took his platform national in 2006 and, within 90 days, had 1.2 billion of development rights at two major universities [06:23 - 12:49] How to Leapfrog the First Couple Rungs in Commercial Real Estate The capital life cycle in commercial real estate consists of four main food groups and niche sectors Early in their career, people usually start with friends and family capital Country club capital route is the next tier, which involves friends of your friends and family The third tier is the family office, managed by millionaires or billionaires The fourth tier is institutional capital from investment advisors with multi-billion dollar commingled funds [12:50 - 25:59] Exploring the Benefits for Retail and Family Office Investors Retail investors have been gaining access to student housing investments Student housing is a defensive and recession-resistant asset class Starting in 2016, institutional investors began to allocate capital into niche sectors of commercial real estate such as student housing, senior housing, self-storage and data centers Transaction volume has slowed significantly, and valuations have decreased due to the higher cost of debt [26:00 - 32:20] Closing Segment Best investment: in Fred's own company Worst investment: Fred's first and second home purchase due to bad timing. The most important lesson learned: keep it simple and scalable Quote: "Keep it simple and scalable if you want to accept exponentially growing your business and your opportunities." - Fred Pierce Connect with Fred! Website: https://pepstudent.com Number: 619-297-00400 Apply to Invest with Taylor at www.investwithtaylor.com Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com Please leave a review and help others escape Wall Street and build wealth on Main Street!
From Full Time Sales to Full Time Real Estate with Clint Harris
34:21Do you want to learn how to transition from a traditional job to the unpredictable world of real estate investing? Taylor Loht sits down with full-time real estate investor Clint Harris to discuss his journey from medical device sales to becoming a full-time real estate investor. Clint shares how he and his wife transitioned from traditional employment to investing in Airbnb properties, property management companies, and syndications. He talks about the lessons he has learned along the way, the relationships he has cultivated, and how taking risks has paid off for him. Tune into this episode for an inspiring story about transitioning into real estate investing! [00:00 - 07:12] Clint's Story of Unexpectedly Becoming a Successful Investor Clint's brief background career The importance of being willing to accept the risks of investing in multifamily properties and converting them to different asset classes [07:13 - 14:37] Taking a Hard Pivot: How Unexpected Job Loss Can Lead to Success Clint bought his first duplex in 2018 and experienced a hurricane shortly after He took money from the first property to buy another quadplex and converted the original triplex into a quadplex [14:38 - 26:42] From Three Incomes to Investing in Multifamily Properties Clint also invested in multifamily properties, self-storage facilities, and self-storage conversion projects His day-to-day lifestyle now focused on education about syndication and limited partners Value add is the key to success in real estate investing. Cold calling has enabled Clint to build meaningful relationships with mentors and other investors. [26:43 - 34:21] Closing Segment Best investment: relationships Worst investment: single-family homes The most important lesson learned: The value that comes with an asset class conversion Quotes: "Life is about relationships. It's about people. And if you're willing to put yourself out there in a vulnerable way and just look to connect with people meaningfully, amazing and beautiful things can happen." - Clint Harris "If you know that whatever you're doing may not be what you want to do at some point, that's not the day you start preparing for that. Now is the day that you start preparing for that." - Clint Harris Connect with Clint! Podcast: www.TrulyPassiveIncome.com Email: [email protected] Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/ Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com. Join our Passive Investor Club to access passive commercial real estate investment opportunities. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.
Why Most Business Owners Can’t Retire (and How to Fix It) with Josh Patrick
26:54Have you ever wondered why many business owners struggle to retire comfortably despite their business's apparent success? In this episode, Josh Patrick uncovers the secret to success for business owners who want to retire with financial security. Josh speaks about his four-box strategy of financial independence, which includes pre-funding a 401k plan, having an emergency fund, investing in the stock market, and buying real estate. He also discusses the importance of making businesses' sale ready' and how to delegate tasks and trust employees to make mistakes. Please tune in to hear about crucial strategies for business owners to ensure their retirement is secure and financially free. [00:00 - 07:41] How to Retire Comfortably Businesses need to go through different stages to reach the scale so that the owners can walk away and the business will run itself A business is worth a lot to you as an owner, but when you go to sell it, taxes and fees take away 40% of the value [07:42 - 15:38] Planning for Retirement: A Four Box Strategy for Business Owners The four boxes of financial independence include the value of your business, qualified retirement plan, rental building, and cash flow Business owners need to plan for retirement and pay attention to their business. Making the business sale ready is vital for businesses that want to be sold in the future. To make a business run on its own, teams and systems must be created [15:39 - 23:06] Delegation: The Hardest Skill to Learn for Business Owners There are two systems to help with delegation: EIA and Inspect and Adopt Mike Michalowicz's book 'Profit First' and Gino Wickman's book 'Traction' can be used as guideposts for creating a business Having a coach can help with the process of learning how to delegate [23:07 - 26:54] Closing Segment Best investment: in the food service business Worst investment: cashflow The most important lesson learned: restaurants are a tough business to get into Quotes: "A business is worth a lot to you as an owner, as an operating entity." - Josh Patrick "Only 50% of businesses that go to market ever sell. So, if you want to sell your business, you have to do something called making it sale-ready. Being ready doesn't mean I'm about to sell my business. It just means I've created a business that other people want to own." - Josh Patrick Connect with Josh! Website: www.SustainableBusiness.co/freedom Apply to Invest with Taylor at www.investwithtaylor.com Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com Please leave a review and help others escape Wall Street and build wealth on Main Street! LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.
Credit Unions vs Banks for Real Estate Investors with Mark Ritter
27:15Did you know credit unions could be your secret weapon in real estate investing? Mark Ritter, a credit union and banking expert, joins us to discuss the advantages of working with Credit Unions for real estate investors. He explains how credit unions differ from other financial institutions and the mistakes investors make when working with a lender. Mark also highlights the unique benefits of credit unions, such as their cooperative structure, which is owned by members and managed by an elected board of directors. Mark provides excellent insight into this area and encourages people to take advantage of them as they offer fairer terms than traditional banks, cannot charge prepayment penalties, and keep and manage their funds. Listen to learn more about how real estate investors can benefit from credit unions and build long-term relationships with lenders! [00:00 - 06:42] The Advantages of Credit Unions for Real Estate Investors Introducing Mark to the show Credit unions are cooperatives, not-for-profit financial cooperatives owned by the members of the organization Credit unions offer a relationship with their lender and local institution [06:43 - 14:10] Credit Unions: A Different Approach to Obtaining Investment Property Loans Credit Unions cooperate and share resources to increase scale Credit Unions are generally smaller than banks, with an average of 250 million in assets Consolidation is happening within the credit union space, but the philosophy of helping people in their local marketplace remains Obtaining a loan from a credit union requires collecting financials, sales agreements, appraisals, rent rolls, and projections [14:11 - 22:58] Credit Union Balance Sheets Federal credit unions cannot have prepayment penalties Credit unions keep and manage their own money, not borrowing from Wall Street For every dollar of deposits, credit unions lend out 85 cents to local businesses and members Mistakes to avoid when getting an investment property loan include not understanding the lender, talking to the wrong person, and ignoring requested information [22:59 - 27:15] Closing Segment Best investment: helping out a small tea shop Worst investment: a loan that was government-guaranteed The most important lesson learned: staying within your lane of what you know Quotes: "Credit unions philosophically are somewhere that you can have that relationship and conversation to get all of your things done that everybody listening knows credit unions do, but also the real estate piece of it as well for your investments." - Mark Ritter "We don't just simply jam who you are into a machine, and out comes an answer. We like to have conversations about who you are. What are you thinking about for this project? What do you have and where are you going in the future?" - Mark Ritter Connect with Mark! Website: www.mbfs.org LinkedIn: https://www.linkedin.com/in/markrittermbfs/ Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/ Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com. Join our Passive Investor Club to access passive commercial real estate investment opportunities. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.
Balancing Real Estate, Family, Work, and Lifestyle with Hannah Bercegeay
26:32Join Taylor Loht as he sits down with Hannah Bercegeay, a real estate investor, teacher, mom, and wife. Hannah shares her story of how her family started investing in real estate before COVID hit and how they grew their portfolio successfully. They discuss the importance of mindset when making financial decisions and avoiding buying unnecessary luxury items. They talk about how to acquire single-family homes and an off-market apartment complex, as well as how to manage contractors and differentiate between different types of properties. Tune in for this inspiring conversation with Hannah Bercegeay! [00:01 - 07:37] Opening Segment Introducing Hannah to the show Hannah believes that anyone can do real estate with the right mindset She now focuses on mindset rather than buying a big house or flashy things [07:38 - 14:05] Expanding Comfort Zones The shift from buying liabilities to assets Balancing time commitments of real estate with W2 and family Work-life harmony instead of balance The importance of using every moment available to be productive [14:06 - 22:25] Overcoming Imposter Syndrome Hannah believes that anyone can do real estate How Hannah felt and defeated imposter syndrome [22:26 - 26:32] Closing Segment Best investment: conferences Worst investment: not going to conferences sooner The most important lesson learned: being empathetic Quote: "I no longer believe in work-life balance. I believe in work-life harmony. It cannot be perfectly balanced. It just can't be." - Hannah Bercegeay Connect with Hannah! Facebook: https://www.facebook.com/hannah.bercegeay/ Instagram: https://www.instagram.com/h.bercegeay10x/ LinkedIn: https://www.linkedin.com/in/hannah-bercegeay-520772172/ Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/ Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com. Join our Passive Investor Club to access passive commercial real estate investment opportunities. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.