EP031 Creating Wealth For Yourself - How to use a little known loan to purchase and rehab your first House Hack with Kevin Murphy

My guest today has over 10 years of global investing experience and is the founder of Boardwalk Wealth with over 1,100 units under management and over 2,000 units bought and sold. Omar Khan is responsible for capital raising, strategic planning, and investor relations while focusing on acquiring value-add multifamily and apartments across the southeast.  Today, Omar is going to share his high-level perspective on the three phases of apartment investing: sourcing deals, asset management, and liquidation events. You’ll learn how Omar talks the right "language" with brokers and uses specific phrasing to indicate that he’s someone who can follow through on an acquisition.  You’ll also learn the systems he has in place to provide benchmarks and goals for his teams to add value to his investments. And you’ll learn several key differentiators Omar uses when it comes to profiting from a cash-out refinance or sale. You’re definitely going to benefit from the sophisticated strategies and processes Omar shares during today’s conversation. You can find out more about Omar through email or his website: omar@boardwalkwealth.com www.boardwalkwealth.com Today’s episode is brought to you by Green Property Management, now offering a $250 per unit project allowance to new clients in West Michigan. Text "Green250" to 21000, or visit them at https://www.livegreenlocal.com/. And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and Medicare benefits. Visit https://www.rcbassociatesllc.com/ to learn more.

17 Jan 202240min

My guest today is a skilled developer and asset manager with extensive experience in full gut renovation projects, new construction, and commercial development. She owns a rental portfolio comprised of long- and short-term rentals and is the go-to person when it comes to implementing processes that allow for scalability. Andresa Guidelli is the co-founder and CEO of The Real Estate InvestHER community, co-host of The Real Estate InvestHER Show, and co-author of “The Only Women in the Room: Knowledge and Inspiration from 20 Women Real Estate Investors”. Today Andresa shares her early sales experience and how the techniques she learned help seed her entry into real estate investing and her first 15 rehab projects. You’ll learn how she leverages her time, skill set, and funding in order to grow her portfolio to include larger multifamily and apartments. Andressa also shares what its like to be a woman real estate investor and the misperceptions she’s had to confront. She’ll share the common hurdles women face, as well as the assets they bring to the table. I know you’re going to enjoy this conversation with Andresa. You can find out more about her at https://www.therealestateinvesther.com Today’s episode is brought to you by Green Property Management, now offering a $250 per unit project allowance to new clients in West Michigan. Text "Green250" to 21000, or visit them at https://www.livegreenlocal.com/. And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and Medicare benefits. Visit https://www.rcbassociatesllc.com/ to learn more.

10 Jan 202239min

There are two very important tools that a successful real estate investor must have to grow their portfolio, borrow money from lenders, and keep track of their financial situation. I’m talking about your personal financial statement and schedule of real estate owned. Both offer a three-dimensional picture of your assets and liabilities, as well as the real estate and investments you own and the cashflow you can expect from them. I was looking to improve the format of my PFS and SREO recently and came across one that I absolutely love. It was created by my guest today, Paul Winterowd. Paul is an expert debt provider with Bonneville Multifamily Capital who has real world experience investing in multifamily assets. He’s achieved MBA and CCIM status and helps clients’ returns by sourcing the best debt-financing for their long and short-term investing objectives. Today Paul is going to explain the purpose of a PFS and SREO and the important details lenders are looking for when they review yours, such as your liquidity, net worth, and debt-service coverage ratio. We’ll also discuss red flags or mistakes investors make when presenting their financial picture. The best part of this conversation...Paul is making the PFS & SREO spreadsheet he created available to our listeners at no cost. You can go to https://bmfcap.com/pfs/ to download this fantastic spreadsheet. You can also contact Paul directly through email:  paul@bmfcap.com Today’s episode is brought to you by Green Property Management, now offering a $250 per unit project allowance to new clients in West Michigan. Text "Green250" to 21000, or visit them at https://www.livegreenlocal.com/. And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and Medicare benefits. Visit https://www.rcbassociatesllc.com/ to learn more.

3 Jan 202234min

Today we’re going to talk about short sales. This is a technique that’s used to work with a lender to get them to allow the sale of a property for less than the balance owed. Successfully negotiating a short sale can provide a lot of upside value for investors, but it also takes knowledge and skill. Nicole Espinosa is known as The Short Sale Queen. She has closed thousands of short sale transactions successfully and continues to process hundreds a month for clients nationwide. She’s also the best-selling author of “Short Sales Uncensored” and is the leading short sale expert based out of Dallas, Texas. Today Nicole is going to take us through the short sale process from A to Z. We’ll discuss why a borrower would consider selling their home on a short sale, and the conversation Nicole’s team might have to convince them this is the best option. We’ll talk about the banks and how to determine if you’ve connected with the right person who can help keep the process moving. Nicole also works with many investors, and she shares a recent scenario that helped them acquire a property for less than it’s current value. Nicole also talks about the team she’s built out and the systems they use to expedite the short sale process. We also discuss the wave of foreclosures she sees on the horizon due to the forbearance periods ending from the foreclosure and eviction moratoriums. Having the knowledge of short sales is an incredible tool that you should have in your investor tool kit. Nicole does a great job of making it as understandable as possible, and I know you’ll get a lot of value from listening to this episode. You can find out more about Nicole through her YouTube channel: https://www.youtube.com/c/TheShortSaleQueen Or through her website: https://thessqueen.com Today’s episode is brought to you by Green Property Management, now offering a $250 per unit project allowance to new clients in West Michigan. Text "Green250" to 21000, or visit them at https://www.livegreenlocal.com/. And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and Medicare benefits. Visit https://www.rcbassociatesllc.com/ to learn more.

27 Dec 202142min

One of the biggest challenges both new and seasoned investors encounter in rental property investing is completing a successful rehab project. There are many ways a project can go wrong and blow your budget. My guest today is going to talk us through the do’s and don’ts of a successful rehab and share tips on how to save money on renovations. Van Sturgeon is an experienced entrepreneur, developer, general contractor, and rehabber who owns over 1,000 properties across North America. He’s passionate about helping homeowners and investors overcome their fears of house renovations and he loves to help people reach their goals. Today, Van is going to share the improvements he makes that have the highest return on investment, how to find and negotiate with trusted contractors, and why you need to have a payment schedule and a plan in place before you begin. Van will also take us through a recent rehab project on a multifamily property where he invested $15,000 per door in improvements to double his rental income. I know you’re going to get a lot of valuable information out of today’s conversation. You can find out more about Van’s rehab tips through his website: https://vansturgeon.com Today’s episode is brought to you by Green Property Management, now offering a $250 per unit project allowance to new clients in West Michigan. Text "Green250" to 21000, or visit them at https://www.livegreenlocal.com/. And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and Medicare benefits. Visit https://www.rcbassociatesllc.com/ to learn more.

20 Dec 202135min

My guest today is implementing the skills he learned in the Army as a member of the elite 75th Ranger Regiment to scale his wholesaling business to 6 figures while maintaining his W-2 job. Dan Austin is the owner of INW Properties, a completely virtual company primarily focused on the acquisition of small multi-family and single-family homes. They wholesale, flip, and BRRRR their own deals and currently hold a portfolio of 25 doors. Today, Dan and I discuss what it means to be ‘elite’ and push for the best outcome in business. Dan talks about several pivotal actions he took to find success in real estate investing—from the decisive conversation he had with a co-worker that led to his first two student housing rentals, to the decision he and his partner made to start their own business and find training and mentorship to ensure its success. You’ll also learn how Dan built a virtual company, who he has on his team, and the incentivization structure that led to more deal flow. I know you’ll enjoy this conversation with Dan. You can find out more about him on Instagram @investormandan, or his podcast “Collecting Keys Podcast". Today’s episode is brought to you by Green Property Management, Now offering a $250 Per Unit Project Allowance to New Clients in West Michigan. Text "Green250" to 21000, or visit them on the web at: https://www.livegreenlocal.com And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and Medicare benefits. https://www.rcbassociatesllc.com

13 Dec 202140min

My guest today has over a decade of experience in the real estate industry acquiring, flipping, developing, and financing over $350 million in real estate. After using private money to finance his own deals, Ruben Izgelov saw the innovation desperately needed in the private lending space and decided to spearhead it by co-founding We Lend, LLC, a private lending platform. Today we’re going to discuss private lending, how it works, and why you might consider it for acquiring your own deals.  You’ll also learn more about Capital Markets and Secondary Markets and their appetite for purchasing private loans.  Ruben also discusses why being a private lender is more lucrative than being in the fix & flip business, and hear many examples of the types of loans We Lend has produced. I know you’re going to learn a lot about lending and the private money world from this conversation with Ruben.  You can find out more about Ruben and We Lend, LLC on any social media platform @WeLendLLC, or website  https://www.welendllc.com Today’s episode is brought to you by Green Property Management, Now offering a $250 Per Unit Project Allowance to New Clients in West Michigan. Text "Green250" to 21000, or visit them on the web at: https://www.livegreenlocal.com   And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits. https://www.rcbassociatesllc.com

6 Dec 202138min

My guest today has closed over 850 deals over the past 7 years.  He’s tried many different strategies, and noticed something very strange while he was in the process of building a real estate business that was doing 25 deals a month.  What he realized was that the money he was making was not the money that was ending up in his pocket.  Instead, that money was going right back out the door, with very little cashflow or profit to show for all his efforts. Now I’m sure many of us have found ourselves in the same situation.  David Richter saw this as an opportunity to help businesses see where their money really goes.  He’s since helped real estate companies completely turn around, from going out of business to building real cash reserves by using a method called the “Profit First Cash Flow System”. David’s goal is to completely transform the Real Estate Industry when it comes to how real estate investors view their finances.  Today David is going to help us achieve true financial clarity and freedom and show us how to stop living deal to deal. You can find out more about David by reading his new book “Profit First For Real Estate Investing”, available on amazon.com.  You can also contact him through his website: https://simplecfosolutions.com Today’s episode is brought to you by Green Property Management, Now offering a $250 Per Unit Project Allowance to New Clients in West Michigan. Text "Green250" to 21000, or visit them on the web at: https://www.livegreenlocal.com And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits. https://www.rcbassociatesllc.com

29 Nov 202146min