EP034 Infinite Returns through Multi Family Investing, Starting your own Management Company and Turning Around a 24 Unit with 42% Occupancy with Josh Sterling

As real estate prices increase, and the supply of new construction fails to keep pace with demand, the need for middle income housing is a steadily rising challenge that many communities are experiencing.  Today we’re going to discuss Workforce Housing.  What is it, who benefits from it, and how is it being developed? And here to have this conversation is Scott Choppin, a seasoned real estate developer with hundreds of millions of dollars of experience and specialization in workforce housing.  He’s also the founder of Urban Pacific, which specializes in the development of a unique type of Urban TownHome. Scott is going to share the development model that he’s employing in middle-income neighborhoods that cater to co-living and inter-family residents.  We’ll discuss the cost saving techniques he’s employing to develop and build these properties without any type of government subsidies.  We’ll also discuss the defensive nature of this type of housing against economic downturns and the financial fallout from the coronavirus pandemic. There is a very real problem in which wages in our country aren’t keeping pace with the cost of housing.  Creative solutions like the type Scott shares in this episode are necessary if we’re going to overcome these challenges.  You can contact Scott through his website at www.urbanpacific.com or learn more through Urban Pacific’s youtube channel.

10 Aug 20201h 1min

My guest today is a big fan of the Keanu Reeves movie “The Matrix”, and he believes that most people really are living in the Matrix and it’s his job to help them escape. He does this by teaching them the benefits of multifamily and apartment real estate investing Since leaving a successful corporate America career, Jerome Myers has become a thought leader in the multifamily development space.  Jerome leads The Myers Development Group which focuses on buying broken apartment building businesses and using innovative thinking and solid execution strategies to optimize the operational efficiency of the business.  Jerome asset manages 90 units and 90,000 square feet of workforce housing across Virginia and North Carolina and he’s on a mission to hold 1,000 doors in the next 8 years.  He also hosts the podcast “Myers Methods Presents Multifamily Missteps”. Today Jerome will take us through the process of acquiring, rehabbing and profiting from two of his multifamily properties, and we’ll also discuss why he prefers Joint Ventures over Syndications, why it’s so important to know how to convey the “Story” when applying for a loan, and how critical it is to establish a relationship with your lenders. I know you’re going to enjoy and benefit from listening to this conversation with Jerome.  You can contact Jerome through: https://www.jeromemyers.co

3 Aug 202057min

Today’s guest is going to talk about ‘Time’. Specifically, ‘Time Freedom’ and how you can achieve it through Real Estate Investing.  He’s also going to discuss how you can transition from being an active investor to 100% passive. Travis Watts is a full-time passive investor who has been investing in real estate since 2009.  He’s invested in multi-family, single-family and vacation rentals.  He’s also the Director of Investor Relations at Ashcroft Capital which was co-founded by Joe Fairless. Travis has invested in over 27 passive syndications and has made it his mission to share passive investment strategies in order to help others achieve and maintain wealth in real estate. Today Travis is going to describe his transition to Passive Investing, what he looks for in the sponsors and operators he invests with, Best Practices for Investor Communications, and specific examples of the deals he’s invested in. I know you’re going to enjoy this conversation with Travis. You can contact him in the following ways: Download Free Passive Investor Resource Guide @ https://ashcroftcapital.com/passiveinvestor-old/ Email:  travis@ashcroftcapital.com Travis is also available on facebook, linkedin & biggerpockets

27 Jul 202045min

As real estate values increase, so too does the idea of selling your investment property and taking your profits off the table.  One of the major considerations in doing so however, are the tax consequences.  Many investors choose not to sell because they simply don’t want to pay taxes on their long-term gains. There is a way, however, to take those gains and not pay taxes on them by transitioning those profits into a different investment property. I’m talking about the 1031 exchange, and it’s a tool that you can use to delay paying those taxes. Dave Foster is a 1031 Exchange Expert, and he’s here today to help us understand how it works.  Dave is the Founder & CEO of the 1031 Exchange Investor, and he’s also a degreed accountant and serial real estate investor, as well as a qualified intermediary and consultant.  Today he’s going to share his tax saving strategies in order to help you maximize your real estate investment returns. We’ll be discussing the timeline you must follow when doing a 1031 exchange, why you must have a qualified intermediary, the types of properties and investments you can do this with, and whether or not you can 1031 into a syndication.  Dave also shares some great examples and unique 1031 strategies that I guarantee will make you say 'Wow'! If you’ve ever considered selling an investment property and sheltering your profits through a 1031 exchange, you’ll definitely want to hear what Dave has to say.  You can contact Dave through his website www.the1031investor.com The 1031 Exchange order form that gets listeners a $50 discount is www.the1031investor.com/podcast Dave can be reached at 850-889-1031 and at dave@the1031investor.com.

20 Jul 202058min

To many people the real estate market may seem unpredictable, and the very real fear of losing money has been a huge psychological hurdle to overcome.  Many investors don’t want to be at the mercy of the economy and the banks. My guest today has found a way to circumvent that fear and risk by investing in real estate on His Terms.  Chris Prefontaine is rewriting the rules of real estate and coaching investors on how to scale and automate their business without using their cash or credit.  His family business has done over $80 Million in real estate transactions. Chris is also the Best-Selling author of 2017’s “Real Estate On Your Terms” and this year’s “The New Rules Of Real Estate Investing”. Chris and his family are acquiring 5 to 10 properties every month and control between $20 to $30 Million --- all done on Terms without using their own cash, credit, or signing for loans.  Today we’re going to discuss what it means to invest in Real Estate on Your Terms, the two strategies Chris recommends that new investors prioritize, how he survived the Great Recession, and the Core Values he believes are necessary when starting a business. You can contact Chris through his website: http://smartrealestatecoach.com To Download the Book “Real Estate On Your Terms”: www.freeSRECbook.com and www.newrulesforfree.com

13 Jul 202042min

One of the highlights of the RPOA's 2020 Annual Conference was the Expert Panel on Short Term Vacation Rentals, and today you get to listen to this Pre-Covid-19 Conversation.  We assembled an incredible group of experts and investors to help us understand the best practices for owning & operating short term vacation rentals, the biggest challenges facing the industry, and why its so important for the industry to professionalize and improve its perception in the community. Ed Bodman has over 7 years of experience owning & operating short term rentals.  Ed has become an expert in hospitality, hosting, maintenance, marketing, cleaning, staging, furnishing, buying right, and working with city government to promote his community. Kim Post has a House and 10 cabins in Cadillac Michigan that will all be converted to short-term vacation rentals by fall.  Currently the House and 6 cabins are online.   Kim’s been a real estate investor for over 30 years and is the owner of Post & Associates Appraisals and Next Door Properties, LLC You can hear Kim on Episode #28 of the podcast. Gary Hall is in his 4th season running an 11 unit as an airbnb motel. Gary is an entrepreneur, passive income strategist, and the operations manager of Westshore Property Management in Muskegon managing both short and long term rentals.  Gary was also a guest on the podcast – episode #89 and the Halloween episode If you're interested in investing in Short Term Vacation Rentals I know you're going to learn a lot from these experts.  You can still join as a charter member in the Short Term Vacation Rental Association for $49 a year by following this link: Become a Charter Member of the Short Term Rental Association

6 Jul 202050min

One of the best ways to increase your net operating income and cashflow is to get control over your utility expenses.  Whether it’s through improving your existing systems and mechanicals, adding renewable sources such as solar panels, or installing water saving aerators to your faucets, there are many ways you can improve the energy efficiency of your properties. However, this does require an investment of time and money. If you don’t have the funds to make this investment, you may be missing out on a huge profit opportunity. Today we’re going to be discussing some of the energy efficient and cost-saving changes you can make to your investment property and the different types of programs and loans available that will cover the costs. With us today is Scott Ringlein, the founder and CEO of The Energy Alliance Group of North America, who’s mission is to develop and deploy innovative solutions to energy, waste, and environmental challenges through the combination of technical and financial solutions.  Scott will be sharing his knowledge on funding sources and grants available for energy improvements, PACE Financing, Solar Power, and other tips that will save you money. You're definitely going to want to check out this episode and will likely benefit from Scott's information.  Scott can be reached through his website:  https://energyalliancegroup.org

29 Jun 202043min

You’re about to hear an incredibly informative conversation I had with Chris Ressa about Commercial Retail investing.  We recorded this on March 11th, just before our country went into lockdown, and as we all know, retail has taken quite a beating over these past months.  What I’d love for you to do is to listen through this conversation to get a detailed understanding of how retail investing works, and then at the very end you’ll hear my follow-up conversation with Chris that we recorded this past week. Chris is going to update us on how his $3 billion portfolio has survived during the past three months.  Definitely stick around to the end, because you won’t want to miss it! Every time I drive by a strip mall with a TJ-Maxx, or a ROSS Dress For Less, or a Burlington Coat Factory, I always wonder, “Who owns that property, and what does that investment actually look like?”  Today we’re going to talk about investing in retail. What are the factors that make this a profitable asset class, how do we value it, what are the risk factors, and in the age of amazon.com how will brick & mortar retail hold up in the future? Luckily, we have an expert with us today to answer these questions.  Chris Ressa is the Chief Operating Officer of DLC Management where he oversees an asset portfolio of $3 billion dollars and 18 million sq. ft. of retail space in 24 states.  Since its founding in 1991, DLC has been one of the nation’s preeminent owners, operators and managers of shopping centers across the country. Chris has been recognized by Chain Store Age and made their list of “10 Under 40: The Dazzling Dozen”.  He also hosts the “Retail Retold podcast”.  You can find out more about him through linkedin #RessaOnRealEstate, or by going to www.dlcmgmt.com

22 Jun 20201h 7min