Cash Flow Guys Podcast

In this episode, I address another outstanding question from one of our listeners, here is what he said: “I cannot get enough of real estate however, since hearing the podcast on how you turned your fourplex into short term rentals it has me thinking hard. I got into real estate 4, almost 5 years ago. My first property was a single-family 2 bed 1 bath that has done relatively well. I then went and bought a four-plex 2 BR 1 bath that has done even better. I inherited another single family 3 bed 2 bath when my sister passed, it's a future rental as I put my mom in there, for now, rent-free. I then purchased another single family that I flipped and used that money to buy a brand new 2 BR 2 b duplex. I am currently under contract to purchase another 2br 1 b fourplex the beginning of next month. I was wondering if you could share with me how to go about turning some units into str as they become vacant. I am a go-getter, I listen and fail often but I fail forward. Chalk it up to education. Maybe you could do a pod

In this episode, I answer a question from “Blake” who is a lister of the podcast.   Blake asked: “I just recently began listening to the podcast and it has changed my mindset about real estate investing. I graduated from college a month ago with zero student debt and a great career with a very high earning potential. My biggest question is how much capital do I need to begin this journey of wealth? “And when that number is attained, what resources can I use to be the most educated possible (books, podcasts, seminars, etc.)?” “Also, I’m a Dave Ramsey follower as well and want to know how I can build this empire without going into debt or ramping up unmanageable debts? Any help would be incredible. Thank you!” The answer to how much capital is needed really depends on how much time and effort do you plan to invest in the adventure of real estate investing.  If you save $150,000, for example, you could buy a duplex or triplex in most markets, it some markets maybe even a four unit.  But then you are done until y

In this week’s episode, I answer a great question from Crystal about Long Distance investing.   Crystal asked: I've developed an interest in real estate in the past few months. I haven't made my first investment yet since I'm still educating myself with books/podcasts and developing a strategy that works for me. One thing that has come up a lot particularly as a long distance investor is the idea of turnkey investments. What are your thoughts on turnkey companies?? Any insight would be greatly appreciated. Turn Key opportunities can be a viable solution but vet them heavily up front.  We can’t expect to achieve the highest level of returns from a turnkey because the provider needs to profit also. Out of all the tun ket providers out there, I recommend Terry Kerr and his team at Midsouth Homebuyers.  They have been in business for 17 years in Memphis (a town I now know well).  I have referred tons of people to them and never once heard a bad word.  You can get to them by using the following link: CashFlowGuys.

In this episode, I answer questions sent in from Jake a college student who listens to the podcast. Jake asked: “Hey Tyler, I’ve been listening to you for over two years now and I wanted to say thank you for what you do because it’s obvious you do it just out of the joy of helping people.  That being said, I’m twenty years old and going into my junior year at NC State University and would like to know what your best advice would be for someone who wants to begin purchasing multi-family properties as soon as possible after I graduate. I’m majoring in Agricultural Business Management and will most likely be in some sort of sales role after college. What would be a good mindset or game plan be for someone in my situation who wants to become a full-time landlord as soon as possible? Thanks again for the great content you put out!” Sales jobs (especially commission only sales jobs) are some of the best training available today.  I would start with a commission only sales job tomorrow to begin sharpening my future

Boy are you going to LOVE this episode.  This week I interviewed Beau Humphreys who is the host of The Personal Finance Show with Beau Humphreys. As well as a financial blogger and coach. Beau knows what it’s like to be broke after almost bankrupting himself due to a previous gambling addiction.  After making arrangements to get himself out of debt, he explains his journey through life without the ability to borrow money of any kind. For Beau, this meant having to find ways to still get things done in everyday life, without having the luxury or being able to swipe a credit card.  With no other options available, he had to save his money before buying anything which helped Beau overcome some major life obstacles while at the same time putting him on a life changing journey to financial freedom. Dive into this episode to learn more about what the challenges were, and more importantly how he was able to overcome them. To contact Beau please visit his website at: https://beauhumphreys.com/ as well as connecting w

I talk to a bunch of people each week who share similar roadblocks to raising money because they don’t feel they have enough expertise to speak intelligently about real estate.  Although they might be correct, these same people can learn quickly and achieve unconscious competence.  How you ask? Immersion For immersion to happen, first we must drill down tight on a specific topic and learn every aspect of it until you can teach it to someone else.  Maybe your student is a family member, a stranger, a colleague or a friend.  I know what you are thinking..you don’t want to teach anyone until you are at the point you won’t make a mistake..that’s just silly! You cannot learn and look good at the same time!  A good example of that is found by watching our blooper reel for our new “Cashflow Roadshow” YouTube Channel at: CashFlowGuys.com/Roadshow while you are there, be sure to subscribe to see more of my stupidity. Toastmasters is a great organization, but did you know that it is most likely the BEST environment to

Below is the email I received, and below that is my reply.   Hey Tyler,   I just want to say thank you for doing what you do and providing so much value in your podcasts. Unfortunately the times available to schedule don’t work right now for me because of work.   I just recently listened to your latest podcast “How to get unstuck” and made me realize I’m doing it wrong.   I want to wholesale houses but as you stated it’s not the best way to get financially free. I can see that from the standpoint of constantly needing your pipe line filled with leads to ensure cash flow is consistent. Also not to mention the amount of taxes taken out! Ouch   My concern is how do I get into these multi family homes without any cash knowing any money private lenders and having unfortunately a shitty credit score.   Maybe I’m just overthinking it.... Thanks for your time.   My Reply:   First, Thanks for listening to the show, and more importantly, thanks for reaching out. Why do you want to wholesale houses?  Because some wholes

Bad things happen in our past, that’s just part of life.  I know, it is much more complex than just those words, however this week I want to discuss the importance of overcoming the past, in order to secure your future. Bankruptcy, divorce, bad credit, bounced checks, past due bills happen, sometimes it feels like there’s no getting around it.  For many this is very true, for others, they can use these bad feelings of the past to rise up above the ignorance that they once experienced in order to never repeat history. History is a great teacher, in fact, those that refuse to study and understand history are doomed to repeat it as the saying goes. There is nothing wrong with looking back to the past for subtle reminders of where you were at one point in your life, but don’t dwell in those thoughts.  Instead, look forward, avoid “over-sharing” of your past and instead of talking or thinking about the drama of the past, take in some new information, positive information that will benefit you. Bankruptcy is intend

Feeling stuck? Lots of people stuck these days when getting started (or while staying started) but you don’t have to stay that way.  I know a large number of people stayed on the sidelines after the crash of 2007, nervous about the state of the housing market.  These folks were waiting for some sort of signal that things were ok for them to invest again, then, all of a sudden, the market went from cold to hot again, does this describe you?  Feel like it's too late now? Many people do, so don’t beat yourself up about that.  The reality is that there is never a bad time to buy, nor is there a bad time to sell, provided you are in front of the right audience.  I honestly don’t believe in the myth of a “Real Estate Market”, this is because I buy for cashflow so that I can therefore build wealth and eliminate my tax obligation.  I used to get all caught up in the market hype when I flipped houses.  Don’t get me wrong, I will use urgency, scarcity and other techniques when buying or selling during negotiations

In this episode I discuss tips on how to deal with emotional Realtors and their sellers.  This came from a Facebook post where a listing agent was “triggered” and therefore offended by a low offer made on one of her listings. I must admit that I was a bit surprised that a supposed “professional” would make such a post on Facebook.  She was basically saying don’t make offers on my listing unless they are full price”.  As you can imagine, statements like this can put her on the fast track to “would you like fries with that?” An offer is nothing more than an invitation to negotiate, never should it be considered the final word.  Instead, use this as an opportunity to start a conversation, a low ball offer might be a test of the waters to see if the seller is motivated or to test the quality of the agent representing them. You see, if I know I have an easily triggered listing agent on my hands, it helps me understand how to navigate the situation for the best outcome.  It also tells me that its likely the listing

If you are not asking yourself this question each and every time you stop to peek at a shiny investment opportunity you are doing yourself an injustice.  In today’s world, millions of “things” compete for our attention, and investment opportunities are no exception.  I wasted a whole bunch of time chasing each and every lead, regardless of whether or not I thought it would pan out.  This is in part because I failed to ask myself the painful question “How Can I Profit From This?” We are raised to be humble, to not covet material things. We are taught to be selfless, to put the needs of others before ourselves.  I admire the idea of such traits, however if we are not at our best, how can we ever be able to help anyone else?  We must first take care of our own finances, we must ask ourselves that very question each and every time another “deal” grabs our attention. When you discover an opportunity to profit, then ask yourself why else should you focus on this opportunity.  At what risk of time or investment is t

What is more important?  Doors or Dollars? This mindset can cause lack of focus on profitability, and when we lose focus, we lose money!  People with lots of doors don’t necessarily have lots of money, there are many investors out there right now focused on building numbers of doors, hoping that as they scale the size of the portfolio, magically profitability will catch up with them.  The old saying goes, “You make money your money when you buy” which is very true. Today’s apartment investor in many cases is more of an apartment “flipper” in many cases.  I know investors with hundreds of units that despite a decent sized portfolio, simply cannot escape the rat race.  This can be for several reasons, however it usually boils down to two reasons. They live above their means by either carrying too much personal debt, squandering cash or irresponsible spending. They don’t earn much profit on their deals and in some cases are actually losing money on their “investments” The good news is that these issues can be

This week I discuss where you, the aspiring investor fits into the game of investing.  I talk to many people each week who respond to the opportunity to get on a call with me to help them get stuck, many of those calls revolve around people needing direction. You can book a time slot on my calendar here: http://CashFlowGuys.com/AskTyler I remember wondering where I should begin, I also remember how paralyzing this decision was.  Do I do deals alone?  With partners? Should I JV? Do a syndication?  Get a mortgage?  What about hard money loans?  Maybe I should be out driving for dollars, after all, everyone seems to be doing that, wait...should I wholesale first?  All valid questions no doubt! STOP!  Breathe.. Ok, now let’s first focus on thinking about what you are good at.  What skills do you have that would be beneficial in a real estate transaction or company.  Perhaps you come from a construction background, or maybe you are simply good at managing people.  Could you leverage that experience into equity in

I find it troubling that investors waste countless hours preparing and delivering offers only to have them quickly dismissed or flat out rejected without any feedback on why the rejection was necessary.  Over the years of talking to lots of investors, I learned that those who have a higher ratio of accepted offers share certain traits and practices with their peers who find success in the offer presentation phase.  I know you might be thinking that maybe they just offer more, and that’s simply not the case.  Those who suffer lots of rejection also share similarities that point to their reasons for failure.  Perhaps you think that one main reason those who suffer rejection have this issue is that they simply make more offers.  In part there is truth to that, but the problem runs much deeper. The offer process is certainly a scary thing for many people and with good reason.  Nobody enjoys rejection on any level.  Before you get too wrapped up in the emotion of rejection, first we need to understand that the sel

This week I talk about quick and easy no money down deals, in fact I am writing an ebook on this very topic which will be available in the next few weeks.  No money deals are in fact possible, although many folks don’t believe this is the case for them.  Part of the reason many people have difficulty in structuring these type deals is because of the motivation level of the seller.  Unmotivated sellers will resist most creative deal structures, that’s just the facts folks.  I am not saying it is impossible to deal with an unmotivated seller, but it is much more challenging. The second reason most people fail in structuring no money down deals is that they are not direct to the sellers.  If you are forced to work through a gatekeeper determining the seller’s true motivations to sell (if any) is virtually impossible. It's a Realtor’s job to withhold seller motivation details without the seller's prior consent.  Wholesalers might share this info with you, but the sad fact is that many wholesalers do a lackluster

This week I interview Private Money Rockstar Jillian Sidoti who is one of the country's leading experts on Regulation A+. (Regulation A is an exemption from registration for public offerings.) She is also the author of the highly rated book, The Crowdfunding Myth which debunks the multiple myths surrounding crowdfunding and teaches the reader how to effectively crowdfund their securities offering Jillian also spends her time speaking at seminars educating real estate investors on how to legally raise capital for their real estate investment projects. You can reach out to Jillian at PrivateMoneyRockstar.com or CrowdFundingLawyers.net This episode is PACKED with solid gold chunks on how to legally raise money without getting yourself in hot water with State and Federal Regulators.  The reason I asked her to join me was due to a Facebook post she made regarding advertising on Facebook to raise private capital. Lots of investors tend to feel that SEC regulations don’t apply to them, this is for various reasons bu

In this episode I continue my interview with Amanda Young and learn more about how this single soccer mom goes about buying houses after losing her job and while unemployed.  Yes, you read that right, she lost her job, and THEN bought rentals!  Amanda also dives into how she began to attract private money with no prior experience in doing so. Later in the episode; Amanda discusses how adding a partner to the mix (a local realtor friend) she was able to get more deals done in less time and with greater profits.  Amanda loves to buy sinkhole homes for pennies on the dollar after she learned that most people (including me) are scared of them.  Amanda has taken this niche seriously and for doing so, built herself a nice portfolio of rentals. She deep dives into the history and misinformation about buying sinkhole homes and how she has leveraged this knowledge to her advantage as a rehabber.  Amanda has learned to look for problems and uses common sense and patience to orchestrate offers that sellers accept becaus

In this two-part episode I sit down face to face in the studio with a local investor Amanda Young.  Amanda has been investing for many years now, beginning as a buy and hold landlord and later including house flipping to her resume.  Amanda believes in getting face to face with the sellers while taking the time out to build rapport with them before trying to buy their house.  In this episode, Amanda breaks down the steps she takes in getting to know the sellers and how she learns about whatever problem they may have that can be solved by the sale of their home. When we focus more on the seller’s problem than we do on the property we build strong relationships with the seller.  Anyone can throw an “all cash” offer at a seller and hope for the best, but those who take time to invest in the seller will yield far greater results.  Amanda outlines how she has been in multiple offer settings and won the bidding as the LOWEST bidder! Sellers that “like” us are far more likely to do business with us.  People generall

Unfounded speculation is the most common way that “great deals” become bad ones.  By unfounded I mean that the parties involved failed to thoroughly complete their due diligence.  This happens to both investors and deal sponsors.  Far too many passive investors fail to thoroughly understand the investments they participate in. This episode applies to investors and sponsors.  Investors for the sake of this episode are considered as those who are infusing capital into the deal, Sponsors, on the other hand, are the ones who are sponsoring the deal (have it under contract) Never take the word of the person selling you something as the final truth, instead, learn the investment opportunity until you understand how it will be able to pay you.  What you wind up with matters less than HOW it will come to be.  Don’t allow lofty projections get you all excited, that’s a quick way to the poor house. Not asking enough questions (or the right ones) often leads to disappointment.  I speak with investors all the time who do

We tend to over complicate everything, that’s the truth!  I was most likely one of the best examples of this phenomenon.  In my defense, I used to work for the government, perhaps that’s where I picked up this bad habit.  To those already started or getting started, please take note of a few tips to help you keep it simple: Don’t buy too many tools.  How many are too many?  If you have not used a tool in the last week or two, you have too many tools.  I learned to find my core group of tools, test each on trials and then pick one for each task grouping and stick with that tool for a year.  I also buy them on the annual plan versus a recurring monthly charge which can save a ton of money. Don’t sign up for more training than you can consume.  Again, I have done this more times than I would like to admit.  I am an info junkie, I love to learn, but, I only have so many hours of the day in which to learn.  For me, this meant promising myself that I would not purchase any additional training until I finished what