Cash Flow Guys Podcast

Getting started is the most important step.  You can plan all you want but until you start, planning is futile because everyone finds that the plan needs constant tweaking. Begin with a budget:  There is no such thing as a free lunch.  To build any business a financial investment is required at some point. Below is a list of some of the things to be considered when writing out a budget.  This is good practice for once you have an asset to manage. Typical Expenses: Direct Mail - how many pieces? letter, postcards, cards, etc.  There are many schools of thought here, but remember that as the saying goes “Everything works, nothing doesn't”.  To me this means that we must take action on getting our word out there so people know what we are looking for.  We need to use our marketing to educate the marketplace on our needs in regard to money, deals, team etc. Business Cards-  People spend a ton of time getting caught up on business card designs.  My best advice is to keep it simple and remember that the purpose of

Today's episode is supported by our friends at Rentometer. Rentometer is your source for up-to-date rent information anywhere in the U.S.; double-check current rents or research property investment opportunities. Rentometer has a Free Trial that gets you immediate access to all their PRO features like zip code and Neighborhood searches, and their Google Street View integration. Check out rentometer.com/pro. Now...let’s get to it shall we? Reliable tenants make life a lot easier for a landlord. Taking steps to keep yours will save you a lot of money and headaches in the long run. The national average cost of turning over a unit after a tenant leaves is $2,500. Reliable tenants make life a lot easier for a landlord. Taking steps to keep yours will save you a lot of money and headaches in the long run. The following tips will help you hold on to your best tenants. Keep them in mind to make your job significantly less difficult. Respond Promptly Don’t drag them out hoping the situation will correct itself because

In this week’s episode, I interview Brett Burky from Paperstac about exactly How To Buy a performing or non-performing note for investment.  Paperstac.com is an online platform that helps note buyers and seller connect and complete note investing transactions online. During this episode, Brett discusses how the Paperstac system works as well as the many benefits to both buyers and sellers of notes.  “Back in the Day” note investing wasn’t a very efficient process.  The industry was essentially closed to the “little guy” and was a playground for the corporate banking elite.  With services like Paperstac, the average person can go online, research an investment opportunity, have the ability to fully screen the investment and make a purchase all from the comfort of home. The service adds much-needed transparency to the note buying and selling business, while making it easy to complete a transaction.  Being able to verify data is a critical requirement for any investor in order to help them make logical decisions

Setting the rent amount for your property can be a daunting task, in fact one small mistake can cost you a year or more of lost rental income.  There are many methods available to determine what fair market rent can and should be and in this episode we cover several of the most popular.    5 ways to set fair market rents Stay Current with economic and business conditions in the area:  Knowing what is going on in your market will serve you well, for instance, in my small town developers are building a large multi family development.  Its my feeling that in the short term this could increase rents as the developer fills up newly built apartments.  the down side of this is that during a recession, the larger apartment communities are often first to drop rents in order to maintain occupancy levels.  Soon, small investors follow suit which I am not keen on. Use Rentometer and Craigslist to stay up to date on comps:  our show sponsor Rentometer is our go to source for finding comparable properties that have been r

First, get over to Rentometer.com/pro and get signed up today to learn about what is happening in YOUR rental market. As landlords and property managers you have many things you are responsible for when it comes to your property. There are some things that fall under the care of your tenants. Here are seven things that tenants are responsible for when it comes to maintenance within your property. Note:  I am not a lawyer and the items mentioned are not necessarily required by law. Mold prevention If there is mold on the property caused by a faulty water line or plumbing you (as the landlord) are responsible for any mold that develops from those conditions. If, however, the mold occurred because there was not proper ventilation in the bathroom while your tenant was showering, they are responsible for any mold or mildew.  Likewise leaving piles of damp and dirty clothes in a corner can also lead to mold or mildew that the tenant is responsible for cleaning up. If mold or mildew occurs on your walls or furnitu

This week I want to tell a brief story of a courageous man I witness complete a very difficult task recently.  I won’t spoil the episode by spilling it out here, however, I will use this witnessed event as a transition to discuss the topic of courage. Regarding courage, the waiting list to be notified of the release of my Brand NEW Mailbox Money 101 Fast Start Program, go to http://CashFlowGuys.com/MailboxMoney101 Courage is defined as “the ability to do something that frightens you” and is also defined as “strength in the face of the pain of grief” and I am here to tell you it takes a ton of courage to succeed in Real Estate investing.  Let’s cover a few common things that require a great deal of courage to accomplish: The courage to make offers:  "Oh geez, what if my offer gets accepted?”  "What if the seller gets mad at me because my offer is too low or too creative?” Both of these situations can be overcome by simply having the courage to be different than everyone else in how you approach the situation. 

In this episode, I discuss a weird situation that occurred while networking at the event regarding the discussion I had with another investor. I watched this person wander around the room throwing himself at anyone who would have them. His strategy was to ask your name and then demand to know the exact size of your portfolio in the second sentence! This guy didn’t even introduce himself first, it was like this, HI, Who are you? How many doors do you have? Just like that. I really felt sorry for him, clearly, he has little to no networking experience whatsoever. The next thing he said was "I own 600 doors" (he shared this without me asking any questions).

This week I speak with Larissa Green who is the Education Director at Advanta IRA.  Advanta is a Self Directed IRA Administrator whose primary mission is to be a custodian of records for those who choose to have a self-directed IRA. A Self Directed Retirement Account allows the account holder to control their own retirement plan via the self-direction model.  In short, with a SDIRA you can pick what your account invests in.  The list of things you cannot invest in is very short and usually tied to some types of currency, antiquities, and insurance products/investments.  Everything else is pretty much fair game (as long as it's not illegal). During this episode, we discuss lots of creative examples that people have invested in over the years to grow even tiny balance IRA’s into respectable amounts.  By self-directing your retirement funds you eliminate lots of fees and commissions that are common to stockbrokers and financial planner supervised investments.  Imagine the possibilities of what you could do with

In this episode, I discuss limiting beliefs that hold good people back from accomplishing great things.  As Jim Rohn says “we get paid for bringing value to the marketplace”.  This applies to EVERY business all over the world, not just real estate investors. Having the proper focus and mindset geared toward solutions instead of problems is one element that separates allows us to see, feel and experience success.  I mention several examples of people who are bringing value to the marketplace and also offer suggestions about how you can accomplish the same.  In order for anything to get accomplished, we have to decide that we won’t accept the status quo, instead, we need to innovate, to decide that things will happen for us and then execute the tasks necessary to get us over the finish line. One of the first things that hold us back is believing that we need to save our own money to buy assets.  This might be true if you were getting started in the stock market, but in real estate, you can use OPM or “Other Peo

You can’t FIND a deal.. it is not possible, you gotta create them, for that to happen you must be direct to the decision maker.  Stop bitching about the price of what is for sale and start learning how to solve problems..its really that simple. Is real estate investing “easy”? Heck NO..but it IS simple (if you allow it to be) In today’s society, humans tend to make things far more difficult than they need to be.  We read into everything and try to find things hidden between the lines that don’t exist.  We allow fear to tell our brains to stay safe and take the easy road, heck, we even invested an actual Easy Button! Remember this..you will not be able to borrow your way to wealth, banks won’t let you, they cut you off and soon will cut most people off as the economy turns.  This means you must learn how to use other people’s money if you plan to truly achieve wealth.  The stock market requires you to use your own cash in most cases (unless you are a stockbroker), insider trading is illegal on Wall Street. In

Rod Khleif is a man that needs little to no introduction, he is the host of the #1 Real Estate Podcast "Lifetime Cashflow Through Real Estate Investing Podcast" that has an audience of over 5 million. In this incredible episode, Rod pulls back the curtain and discusses the Psychology of Success and how it has changed his entire life’s trajectory. Coming from modest means after immigrating from Holland and settling in Colorado, Rod embodies the spirit of entrepreneurship as he negotiated the obstacle course that we all know as life.

Jude Mendonza (besides being a buddy of mine) is the host of the Freedom Experience Podcast. His show is designed to help people get past their internal struggles and then get focused on winning. Jude is a true rags to riches story that is a must-listen for anyone who feels they are not happy with their current situation. Jude’s resume has clearly lead him to have the insight he has today and helped him become a mentor to many.

In this episode, I interview Asset Protection Attorney Scott Smith from Royal Legal Solutions about Series LLC’s.  I first learned of these by doing business with Paige Panzarello in the note investing space.  One of the big reasons they became popular over the years is to help California residents avoid paying ridiculous taxes levied by the State of California. We went on to discuss the differences between asset protection and anonymity and the benefits of having a blended approach to best protect your holdings from prying eyes.  Scott also covered Land Trusts as Larry Harbolt teaches and shed light on other strategies that investors can use to best protect themselves from unfair lawsuits.

The facts are that far too many people are having trouble getting to the finish line when doing a flip these days. Granted, this does not apply to everyone, but it does apply to a large number of flippers. Some say the sky is falling, others blame the President, the weather, the Realtors or Wholesaler that sold it to them, but what really matters is a market correction is going to happen, and you need to be diligent.  

Everyone is in fear of missing out, even though the talk on the street is that a real estate market correction is imminent.  By now I would think people have gotten the message and would not keep getting caught up in the same hype.  FOMO (Fear Of Missing Out) remains alive and well in the real estate investing space due to tons of careless buyers not doing the math before they buy.  They trade basic financial logic for the thrill and excitement of buying an over-valued property.  To some degree, the Brokers and Wholesalers share part of the blame by providing inflated estimates of value and inaccurate income and expense information to potential buyers.  If a buyer is naive enough to believe the data presented as accurate without further verification, they must be willing to accept the majority of the blame (if not all) “Off Market” is a LIE, Off-Market often stands for “it costs more” because off-market lacks the checks and balances.  Let’s be honest with ourselves, if it’s For Sale, it is On Market. OFF Ma

The only way to get the best deals is to be direct to the decision maker, that's the reality, love it or hate it we cannot argue the facts.  In this episode, I discuss why this is true and how you can better position yourself to negotiate with sellers and service providers.  When we are stuck dealing with a gatekeeper we lose the ability to solve problems.  The ability is lost because we simply do not have all of the data we need to provide a solution, thus all that’s left is to compete for the highest price. What if the highest price isn’t what the seller really needs to solve their problem?  What if they only need $10,000 right now, and need a stream of income after that?  We know that in most cases a lump sum of cash in a seller's hands will get spent rather quickly.  Instead, what if we could provide them with a stream of income over time? Many rookie investors won’t consider this because they themselves would not go for it.  The problem is that they wind up shortchanging a seller out of a solution that c

As many of you know from listening to the show, I LOVE passive income in the form of Mailbox Money.  In fact, it’s that mailbox money that helps me sleep so good at night. Y'all can keep your house flipping and wholesaling garbage, I am all about slow and steady wins the race.  Speaking of which, I am opening the books on registration for the Mailbox Money Group Coaching program.  I am opening the doors for a short time to allow people inside who are willing to be brave enough to learn how to escape the rat race once and for all. To get started, head on over to MailBoxMoneyMastermind.com right now.. This group coaching program is about cutting out the fluff and getting right to the meat of what you need to learn (and do) to build your real estate business into a recession-proof machine.  This program applies to both single and multi-family investors, note investors, and those who wish to invest in vacant land or commercial property. We have a payment plan available to allow you to take advantage of this limit

Wikipedia defines a retrade as the practice of renegotiating the purchase price of real property by the buyer after initially agreeing to purchase at a higher price. Typically this occurs after the buyer gets the property under contract and during the period that it is performing due diligence. The buyer may raise a due diligence issue and demand a purchase price adjustment to a lower re-trade price. The seller can be left in a bad situation where it must either accept the lower price or lose the sale and re-market the property. Moreover, loss of the sale can affect an entire chain of related transactions (such as when the sale is a down-leg in a tax-deferred "1031" exchange), thereby increasing even further the pressure upon the seller to accept the lower price in order to salvage the related transactions and avoid a ripple effect. Here’s the deal, as a buyer, you have a RIGHT to renegotiate a contract when the details of what was presented to you change.  Let's keep in mind that doesn’t mean you need to nic

Today’s guest is Adam Adams, known on Facebook as Adam “Triple A” Adams, he is the host of the Creative Real Estate Podcast and CEO of Blue Spruce Holdings. Adam was raised by a real estate investor and got started himself back in 2005 in the tax deed space, then in 2007, he got involved in apartment investing as a property manager who managed a complete reposition of a multifamily property and doubled its value in only 12 months. A year later he bought his own multifamily property and since then has grown his portfolio to over 500 multi-family apartments, a number which is soon to explode.  Adam talks about a few of the biggest challenges that multifamily investors run into and provides solid advice on how to overcome those challenges. Adam is also sponsoring a Raising Private Capital Summitt this month of which more details can be found at RealBlueSpruce.com/opm

Seth Williams is a land investor and residential landlord, with nearly a decade of experience in the commercial banking industry. He is also the Founder of REtipster.com - a real estate investing blog that offers real-world guidance for real estate investors. On this episode of the Cash Flow Guys Podcast, Seth shares how making offers to unmotivated sellers generally proves to be a huge waste of time, He also offers a refreshing approach to some of the pitfalls associated with Seller Financed deals.