Afleveringen
-
How can the relationship between the operating team and investors make or break a real estate deal, especially in challenging market conditions?
In this episode, Angel Williams and Randy Langenderfer discuss the importance of trust and relationships in passive real estate investing. They share their experiences with different operating teams and how a strong team can help a deal survive even in tough times. The conversation also delves into the differences between cash and accrual accounting, the pros and cons of vertically integrated property management, and the significance of creating a sense of home for tenants. Throughout the discussion, Angel and Randy emphasize the value of knowing one's strengths and relying on the expertise of others in areas where one may lack knowledge or experience.
Randy is Founder and President of InvestArk Properties and general partner in 1,500 doors representing $250M in assets under management. He has invested in a total of over 3,000 units in TX, OK, AZ, SC and LA. His investment strategy focuses on providing the passive investor significant returns by improving communities using a safe and time-tested approach. He is passionate about helping the busy professional achieve their goals in real estate and has been a part of several national educational programs and is currently a private multi-family coach.
He is a board member and previously served as the Chief Compliance and Audit Officer for a large academic medical institution in Houston, TX. He has a bachelor’s degree in accounting, Information Systems, an MBA in Finance, and is a CPA.
[00:00:00] - [00:02:00] The Importance of Trust in Passive Investing
- Trust in the operating team is crucial for the success of a real estate deal.
- A strong operating team can help a deal survive even in challenging market conditions.
- Building relationships with the operating team is essential before investing.
[00:02:00] - [00:06:00] Cash vs. Accrual Accounting in Real Estate
- New investors should educate themselves on the differences between cash and accrual accounting.
- Accrual accounting aims to smooth out income and expense variations over time.
- Understanding which reports are cash basis and which are accrual is crucial for investors.
[00:06:00] - [00:10:00] Vertically Integrated Property Management: Pros and Cons
- Vertically integrated models, where the property management company is part of the GP team, are becoming more common in larger deals.
- The success of a vertically integrated model depends on the performance of the property management company and the ability to remove them if necessary.
- Some investors prefer third-party property management to avoid potential conflicts of interest.
[00:10:00] - [00:15:00] Creating a Sense of Home for Tenants
- Using language that emphasizes "home" rather than "unit" or "tenant" can help create a sense of belonging for residents.
- Creating a sense of home can lead to lower turnover, increased renewals, and reduced costs.
- The concept of home resonates with people across different classes of apartments.
[00:15:00] - [00:18:00] Leveraging Expertise in Real Estate Investing
- Investors should focus on their strengths and rely on the expertise of others in areas where they lack knowledge or experience.
- Empowering local teams to make decisions is crucial for the success of a real estate investment.
- Partnering with experts in specific markets can help investors navigate unfamiliar territories more effectively.
quotes:
- "You need to 100 percent know that you can trust the operating team because they can make a good deal suck and they can make a bad deal survive." - Angel Williams
- "I think people want to live someplace they're comfortable with and call home. And that just creates less turnover, promotes renewals. Less cost and more benefits”- Randy Langenderfer
Connect with Randy:
Website: www.invest-ark.com
Website: www.multifamilymaestros.com
LinkedIn: https://www.linkedin.com/in/randy-langenderfer/
Facebook: https://www.facebook.com/randy.langenderfer
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
-
What surprising advice does a seasoned real estate investor have for those looking to invest in multiple markets?
In this episode, Angel Williams sits down with Randy Langenderfer, a seasoned real estate investor with a diverse portfolio spanning several markets. Randy shares his journey from corporate America to real estate investing, discussing the importance of knowing your market, the challenges of investing in tertiary markets, and the value of having strong regional managers. He also touches on the changing dynamics of multifamily investing, the significance of population growth and income growth when choosing markets, and how to utilize self-directed IRAs to get started in real estate investing.
Randy is Founder and President of InvestArk Properties and general partner in 1,500 doors representing $250M in assets under management. He has invested in a total of over 3,000 units in TX, OK, AZ, SC and LA. His investment strategy focuses on providing the passive investor significant returns by improving communities using a safe and time-tested approach. He is passionate about helping the busy professional achieve their goals in real estate and has been a part of several national educational programs and is currently a private multi-family coach.
He is a board member and previously served as the Chief Compliance and Audit Officer for a large academic medical institution in Houston, TX. He has a bachelor’s degree in accounting, Information Systems, an MBA in Finance, and is a CPA.
[00:00:00] - [00:03:00] From Corporate America to Real Estate Investing
- Randy's journey from corporate America to real estate investing
- Starting with single-family flips and hard money lending
- Discovering multifamily and pursuing financial freedom
[00:03:00] - [00:07:00] The Importance of Knowing Your Market
- Angel's advice on focusing on 1-2 markets and knowing them well
- Randy's experience investing in multiple markets and the value of local partners
- The challenges of investing in Houston without being present
[00:07:00] - [00:12:00] Navigating Tertiary Markets and Changing Dynamics
- The skinny margins in tertiary markets and the need for larger properties
- The changing breakeven point for multifamily properties (from 60 to 90+ units)
- The importance of strong regional managers in navigating local challenges
[00:12:00] - [00:18:00] Lessons Learned from Asset Management
- Angel's experience managing a property during a management company dissolution
- Randy's "PhD in the school of asset management, hard knocks"
- The value of overseeing property management without doing it yourself
[00:18:00] - [00:23:00] Choosing Markets and Utilizing Self-Directed IRAs
- The significance of population growth, income growth, and crime rates when choosing markets
- The higher probability of success in larger, growing markets
- Utilizing self-directed IRAs and forming LLCs to get started in real estate investing
Quote:
"There needs to be an angel or somebody that's close that can get to the property in an hour. If it's not me, it's somebody on my team that can get to the property in an hour, no more than an hour." - Randy Langenderfer
Connect with Randy:
Website: www.invest-ark.com
Website: www.multifamilymaestros.com
LinkedIn: https://www.linkedin.com/in/randy-langenderfer/
Facebook: https://www.facebook.com/randy.langenderfer
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
-
Zijn er afleveringen die ontbreken?
-
Can a simple savings program revolutionize the lives of residents in affordable housing?
In this thought-provoking episode, Angel Williams and Alex Cartwright delve into an innovative idea that could transform the lives of residents in affordable housing. Alex proposes a resident savings account (RSA) program, where a portion of the rent is matched and deposited into a savings account for the resident. This simple yet powerful concept could provide a financial safety net for residents, allowing them to handle unexpected expenses without jeopardizing their housing stability. The discussion also touches on the challenges faced by low-income families, the importance of accessible amenities, and the potential for partnerships with banks and investors to make this idea a reality.
Alex conducts macroeconomic analysis on target markets and conducts the underwriting for Vilicus Capital offerings. Alex has also previously worked as a consultant with one of the biggest mobile home - owners in the country.
[00:00:00] - [00:03:00] The Resident Savings Account: A Simple Solution for Financial Stability
- Alex introduces the concept of the resident savings account (RSA)
- The RSA could provide a financial cushion for residents to handle unexpected expenses
- Even a small amount saved can make a significant difference in a resident's life
[00:03:00] - [00:06:00] Understanding the Challenges of Low-Income Families
- Angel shares insights from her experience as a teacher in low-income communities
- Low-income families often face difficult decisions due to limited resources
- The RSA could offer an alternative to sacrificing necessities for unexpected expenses
[00:06:00] - [00:09:00] Making Affordable Housing More Accessible and Affordable
- The discussion highlights the importance of making affordable housing more accessible
- Angel's grandparents' experience with affordable housing is shared as an example
- The RSA could provide longevity for residents who might otherwise have to skip rent
[00:09:00] - [00:12:00] The Potential for Partnerships and Investors
- Alex expresses the need for finding the right banking partner for the RSA program
- Angel suggests the possibility of involving venture capital groups to back the idea
- The discussion emphasizes the importance of understanding the unique challenges faced by hourly workers
[00:12:00] - [00:20:00] Enhancing Affordable Housing with Valuable Amenities
- Alex and Angel discuss the potential for converting hotel spaces into valuable amenities
- After-school care is highlighted as a potential amenity that could attract and retain families
- The long-term benefits of on-site amenities, such as fuel and time savings, are considered
Quote:
"We see opportunity cost everywhere, right? We see costs on the stuff that doesn't have numbers attached to it." - Alex Cartwright
Connect with Alex:
Website: www.Vilicus.Capital
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
-
Can providing affordable housing without relying on taxpayer money be a sustainable solution to the housing crisis?
In this episode, Angel Williams and Alex Cartwright discuss the innovative approach of converting hotels into affordable housing units. Alex shares his experiences in offering all-inclusive rental packages that provide stability and convenience for low-income tenants. By eliminating the need for sub-metering and additional fees, Alex's company aims to create a win-win situation for both the residents and the property owners. The conversation also touches on the disproportionate impact of inflation on low-income households and the potential of a resident savings account program to reduce turnover costs and improve the lives of tenants.
Alex conducts macroeconomic analysis on target markets and conducts the underwriting for Vilicus Capital offerings. Alex has also previously worked as a consultant with one of the biggest mobile home owners in the country.
[00:00:00] - [00:03:00] The All-Inclusive Rental Package
- Offering furnished units with utilities, internet, and cable included
- Providing stability and convenience for low-income tenants
- Competing with traditional apartments by offering a single, fixed monthly price
[00:03:00] - [00:06:00] Creating Affordable Housing Without Taxpayer Money
- Renovating hotel units to provide affordable housing options
- Reducing rent for long-term hotel residents by 20-30%
- Generating a free market solution that benefits both tenants and property owners
[00:06:00] - [00:09:00] The Impact of Inflation on Low-Income Households
- Discussing the regressive effects of inflation on lower-income individuals
- Highlighting the disproportionate impact of rising food and housing costs
- Acknowledging the challenges faced by low-income families in the current economic climate
[00:09:00] - [00:12:00] Gamifying Rent Payments and Rewarding Tenants
- Exploring the concept of the Pinata app, which gamifies rent payments
- Discussing the potential of rewarding tenants with points for on-time payments and lease renewals
- Allowing tenants to choose their own rewards based on their preferences
[00:12:00] - [00:18:00] The Resident Savings Account Model
- Introducing the idea of a resident savings account to reduce turnover costs
- Contributing to the account as an incentive for tenants to stay longer
- Providing tenants with the opportunity to save for future goals, such as a down payment on a home or education expenses
Quote:
"I'm so proud. I don't have to take any taxpayers money to do that. That means I don't have to take any anybody else's money to do that. This is just pure free market solution where everybody wins." - Alex Cartwright
Connect with Alex:
Website: www.Vilicus.Capital
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
-
Can converting hotels into apartments solve the affordable housing crisis while providing a lucrative investment opportunity?
In this episode, host Angel Williams sits down with Alex Cartwright, an Associate Professor of Economics at Ferris State University and a real estate investor focused on hotel-to-apartment conversions. Alex shares his journey from traditional multifamily syndication to discovering the untapped potential of converting struggling hotels into affordable housing. He discusses the challenges and advantages of this unique investment strategy, emphasizing the growing demand for workforce housing and the limited supply of old hotels ripe for conversion. Alex also delves into the financial aspects of hotel conversions, explaining how the shift from hotel to multifamily cap rates can lead to significant returns with limited downside risk.
Alex conducts macroeconomic analysis on target markets and conducts the underwriting for Vilicus Capital offerings. Alex has also previously worked as a consultant with one of the biggest mobile home owners in the country.
00:00:00 - 00:03:00 - From Traditional Multifamily to Hotel Conversions
Alex found it increasingly difficult to find deals in traditional multifamily syndication.
He sought a niche where he could be known as the expert and scale his business.
A broker introduced him to the concept of hotel-to-apartment conversions.
00:03:00 - 00:08:00 - The Demand for Affordable Housing and Supply of Old Hotels
Affordable housing is in high demand, but no one is building it.
Hotels have a limited lifespan and struggle to compete with VRBOs and Airbnbs.
Converting old hotels into apartments can unlock their value and meet the demand for workforce housing.
00:08:00 - 00:14:00 - Navigating the Challenges of Hotel Conversions
Cities are often open to rezoning old hotels into multifamily properties to create more affordable housing.
Converting hotels floor-by-floor allows for maintaining cash flow during the process.
Hotels often serve as "proxy apartment buildings" for those on the edge of homelessness or in need of simple, affordable living arrangements.
00:14:00 - 00:16:00 - The Financial Conversion: From Hotel to Multifamily Cap Rates
The real conversion is financial, as hotels trade at a lower cap rate than multifamily properties.
Buying at a hotel cap rate and refinancing at a multifamily cap rate can lead to significant returns.
The lower basis in hotel conversions provides upside potential and downside protection.
00:16:00 - 00:19:00 - A Real-World Example: The Houston Hotel Conversion
Alex's recent Houston hotel purchase was acquired at $28,000 per door, significantly lower than competing multifamily properties.
The low cost basis allows for flexibility in rental rates and a cushion against downside risk.
While finding the right deal takes work, hotel conversion opportunities are not as rare as one might think.
Quotes:
- "Affordable housing is exactly what no one is building, and affordable housing is exactly what disappears every time another syndication group buys the C class property and upgrades it to a B minus." - Alex Cartwright
- "The real conversion is actually a financial conversion because a hotel trades at a cap rate, usually in the low to mid teens, and a cap rate. It's fundamentally some measure about how durable the income stream is on an asset is the income consistent and is the income growing." - Alex Cartwright
Connect with Alex:
Website: www.Vilicus.Capital
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
a
-
How can understanding people's unique motivations and experiences help foster stronger connections and more successful business ventures?
In this episode, Angel Williams and Elam King delve into the importance of understanding people's diverse backgrounds, motivations, and experiences when building relationships and navigating business ventures. They discuss how embracing diversity and finding common ground can lead to more meaningful connections and successful outcomes. Angel shares her experiences as a teacher working with students from various backgrounds, while Elam reflects on his journey in the hospitality industry and the challenges of managing short-term rentals. Together, they emphasize the value of empathy, adaptability, and the willingness to learn from others in both personal and professional contexts.
Elam King grew up on an Amish farm but never grew to appreciate it. However, he did like his job in his teens of rebuilding manure spreaders. Yeah, they were dirty!! :) He finds great joy in turning crap into gold. Elam is an Airbnb superhost focused on making Airbnb investments profitable. He bought his first house (a 7 bedroom city home) in 2007 and totally rehabbed it. Elam and his family house-hacked it, by living in 2 bedrooms and renting the other 5 out. To date, this has been one of their best deals. His favorite Airbnb investments are ones that need rehab. It gives him the opportunity to make them what he wants–a unique experience for the guests. Elam grew his Airbnb portfolio to about 3.5 million in 2023 and wants to scale to a lot more in 2024.
(00:00:00 - 00:03:00) Embracing Unique Experiences and Motivations
- Angel shares her family's approach to creating memorable experiences while traveling to conferences
- Understanding and catering to individual preferences is key to building strong connections
- Finding people's "currency" helps in negotiating and creating value
(00:03:00 - 00:06:00) Navigating Business Relationships and Cultural Differences
- Elam discusses a challenging land deal and the importance of taking action and learning from setbacks
- Understanding cultural differences and building relationships is crucial in business negotiations
- Digging deeper to uncover what truly matters to people can lead to more successful partnerships
(00:06:00 - 00:09:00) The Power of Diversity and Soft Skills
- Angel reflects on her economics background and the importance of understanding how people respond to incentives
- Embracing diversity and building connections with people from various backgrounds can lead to more fulfilling relationships
- Soft skills and the ability to empathize with others are valuable assets in both personal and professional settings
(00:09:00 - 00:12:00) Navigating the Challenges of the Hospitality Industry
- Angel and Elam discuss the challenges and rewards of managing short-term rentals and the hospitality industry
- Dealing with the best and worst of people requires adaptability and emotional resilience
- The true nature of hospitality lies in fostering genuine connections and understanding between people
(00:12:00 - 00:17:00) Mindset, Expectations, and the Pursuit of High Margins
- The closer you get to people, the more drama increases, but the type of drama varies depending on the clientele
- Maintaining a positive mindset and managing expectations is crucial in the hospitality industry
- Elam emphasizes the importance of pursuing high margins and being selective in choosing properties for short-term rentals
Key Quotes:
- "Economics isn't the study of money, it's the study of how people respond to incentives." - Angel Williams
- "The true nature of hospitality is two people getting together and just really getting to know each other." - Elam King
Connect with Elam:
Website: www.rewonder.com
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
-
How can short-term rental hosts create unforgettable experiences that capture their guests' imaginations and souls?
In this episode, Angel Williams and Elam King dive into the challenges and opportunities of managing short-term rentals. They discuss the difficulties of finding accountants who understand the complexities of the industry and the importance of economies of scale in property management. The conversation also explores the difference between amenity-rich and experience-rich properties, with Elam emphasizing the power of capturing people's imaginations through unique and creative experiences. By focusing on the deeper needs of guests, such as love, joy, and peace, short-term rental hosts can create unforgettable stays that go beyond mere physicality.
Elam King grew up on an Amish farm but never grew to appreciate it. However, he did like his job in his teens of rebuilding manure spreaders. Yeah, they were dirty!! :) He finds great joy in turning crap into gold. Elam is an Airbnb superhost focused on making Airbnb investments profitable. He bought his first house (a 7 bedroom city home) in 2007 and totally rehabbed it. Elam and his family house-hacked it, by living in 2 bedrooms and renting the other 5 out. To date, this has been one of their best deals. His favorite Airbnb investments are ones that need rehab. It gives him the opportunity to make them what he wants–a unique experience for the guests. Elam grew his Airbnb portfolio to about 3.5 million in 2023 and wants to scale to a lot more in 2024.
[00:00:00] - [00:03:00] The Challenges of Finding the Right Accountant
1. Short-term rentals are relatively new, making it difficult to find accountants who understand the industry's complexities.
2. Hosts may spend more time explaining the business to accountants than actually getting their accounting done.
3. The lack of industry-specific accounting solutions can lead to high bookkeeping costs.
[00:03:00] - [00:06:00] Economies of Scale in Property Management
1. As hosts acquire more properties, they need to consider the time commitment required to manage them effectively.
2. Residential properties, even when purchased with a commercial loan, can be more time-consuming to manage than larger, commercial properties.
3. Hosts should evaluate deals based on both the financial numbers and the time investment required.
[00:06:00] - [00:09:00] Creating Destinations and Capturing Imaginations
1. To stand out in the hospitality industry, hosts can create unique experiences that capture guests' imaginations.
2. Properties with themed rooms or creative amenities can become destinations in themselves, attracting guests willing to pay a premium.
3. Hosts should consider the specific needs and preferences of their target audience when designing their properties and experiences.
[00:09:00] - [00:12:00] The Difference Between Amenity-Rich and Experience-Rich Properties
1. While amenities are important, experiences are what truly capture guests' attention and encourage them to open their wallets.
2. Hosts can create experiences by adding elements of mystery, fun, and creativity to their properties.
3. Long-term rentals, such as class B and C apartments, typically focus more on amenities than experiences.
[00:12:00] - [00:17:00] Meeting the Deeper Needs of Guests
1. Beyond physical amenities, guests have deeper needs for love, joy, and peace that hosts can address through unique experiences.
2. By focusing on the soul and emotions of guests, hosts can create unforgettable stays that go beyond mere physicality.
3. Happiest people are not necessarily those with the most luxury, but those whose deeper needs are met through meaningful experiences.
Quotes:
"All of us have deep fears and deep desires, and it's not necessarily physical. Physical is what we see. But really at the root of it, at the root of who we are, we need love, joy, and peace." - Elam King
Connect with Elam:
Website: www.rewonder.com
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
-
Can short-term rentals be more than just a place to sleep, and actually ignite people's souls?
In this episode of the Academy presents Real Estate Investing Rocks podcast, Angel Williams sits down with Elam King, a seasoned short-term rental investor, to discuss the exciting world of hospitality and real estate. Elam shares his journey from purchasing his first foreclosure property in 2017 to now managing a portfolio worth over three and a half million dollars. He emphasizes the importance of creating a unique experience for guests and the potential for short-term rentals to be more than just a place to sleep. Throughout the conversation, they delve into the challenges and opportunities of scaling a short-term rental business, the differences between single-family homes and larger properties, and the various financing options available in this relatively new asset class.
Elam King grew up on an Amish farm but never grew to appreciate it. However, he did like his job in his teens of rebuilding manure spreaders. Yeah, they were dirty!! :) He finds great joy in turning crap into gold. Elam is an Airbnb superhost focused on making Airbnb investments profitable. He bought his first house (a 7 bedroom city home) in 2007 and totally rehabbed it. Elam and his family house-hacked it, by living in 2 bedrooms and renting the other 5 out. To date, this has been one of their best deals. His favorite Airbnb investments are ones that need rehab. It gives him the opportunity to make them what he wants–a unique experience for the guests. Elam grew his Airbnb portfolio to about 3.5 million in 2023 and wants to scale to a lot more in 2024.
[00:00:00] - [00:04:00] From Foreclosure to Financial Freedom: Elam King's Short-Term Rental Journey
- Elam purchased his first foreclosure property in 2017 and house hacked to get started
- He grew his portfolio to three and a half million dollars in just six years
- Elam and his family are now ready to scale their business and acquire millions more in real estate
[00:04:00] - [00:07:00] Scaling Up: The Transition from Single-Family Homes to Larger Properties
- Single-family short-term rentals can work, but they require a lot of energy and are difficult to scale
- Elam is now focusing on larger deals, such as a 280-acre land deal for a $40 million resort and a 32-room motel
- Short-term rentals are a hospitality play, not just about the physical property, but also about creating an experience
[00:07:00] - [00:10:00] The Challenges and Rewards of Running a Short-Term Rental Business
- Short-term rentals come with unique challenges, such as cleaning logistics and the need for constant communication
- Despite the challenges, Elam is excited about the industry and its potential for growth
- Real estate investing, including short-term rentals, is a business that requires an entrepreneurial mindset
[00:10:00] - [00:14:00] Financing Short-Term Rentals: Navigating a New Asset Class
- Short-term rental financing can be more challenging than traditional long-term rental financing
- Banks may require more information, such as occupancy rates and income, which can be difficult to prove for new or unique properties
- Alternative financing options, such as seller financing, can be helpful when traditional bank loans are not available
[00:14:00] - [00:22:00] Three Ways to Make Money with Short-Term Rentals: Arbitrage, Management, and Ownership
- Arbitrage involves renting a property and then subletting it on platforms like Airbnb, but offers less control and no long-term equity
- Managing properties for others can be profitable, but regulations vary by state and the industry is still in its "Wild West" phase
- Owning properties provides the most control and long-term benefits, but requires more capital and hands-on involvement
Quotes:
"Our vision statement is to create a hospitality brand that ignites people's souls." - Elam King
"It is real estate, but it's kind of like McDonald's, they own real estate, but it's not their brand." - Elam King
Connect with Elam:
Website: www.rewonder.com
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
-
How can focusing on your strengths and building a diverse team help you succeed in real estate investing?
In this engaging podcast episode, Matt Faircloth and Angel Williams discuss the importance of recognizing and leveraging your strengths while building a well-rounded team to achieve success in real estate investing. They emphasize the value of admitting your weaknesses and finding people who excel in those areas to complement your skills. Matt shares his insights on retaining good tenants in C-class apartments and the potential opportunities arising from the current market conditions. The conversation also touches on the advantages of investing in single-family homes and the upcoming trends in the real estate market.
Matt Faircloth has been a full-time investor since 2005. In that time he has successfully completed projects involving dozens of fix and flips, office buildings, single-family homes, and apartment buildings.
He has completed over a Hundred Million in real estate transactions and controls thousands of units of multi family. He is a regular contributor and podcast guest on Bigger Pockets.com, has an active YouTube Channel dedicated to educating investors, and the author of the Amazon Best Seller, Raising Private Capital, how to Build your Real Estate Empire with Other People's Money.
[00:00:00] - [00:03:00] Focusing on Strengths and Building a Team
- Recognize and focus on your strengths while admitting your weaknesses
- Build a team based on strengths to grow your business
- Outsource tasks you hate doing to those who excel in those areas
[00:03:00] - [00:07:00] The Importance of Balancing Strengths and Weaknesses
- Differentiate between essential skills and areas where you don't need to excel
- Shift on the spectrum towards improving certain skills, but recognize your limitations
- Pay someone to do tasks you hate once you have the resources
[00:07:00] - [00:13:00] Retaining Good Tenants in C-Class Apartments
- Focus on tenant happiness by keeping rent increases reasonable
- Offer incentives and amenities to create a sense of community
- Prioritize tenant retention over immediate rent increases to avoid vacancies
[00:13:00] - [00:18:00] The Resilience of C-Class Tenants During Economic Downturns
- C-class tenants are more versatile and can find new jobs more easily
- A and B-class tenants may face more challenges in finding comparable employment
- Single-family homes can offer excellent returns with the right tenants and property management
[00:18:00] - [00:22:00] Opportunities in the Changing Real Estate Market
- Short sales may become more common as forbearances increase
- Executing business plans effectively will be crucial for success
- Single-family homes may present overlooked opportunities for investors
Quotes:
"There's certain things you have to do for your financial health or for your physical health or for your mental health or whatever it is." - Matt Faircloth
"Whatever you hate doing, there's someone who loves doing it and could feed their family to get paid to do what you hate doing." - Matt Faircloth
Connect with Matt:
LinkedIn:
https://www.linkedin.com/in/mdfaircloth/
https://www.linkedin.com/company/derosagroup/
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
-
What are the four essential roles every successful multifamily real estate investment team needs to have, and how can you identify which role best suits your strengths?
In this episode,Matt Faircloth breaks down the four critical roles every multifamily real estate investment team must have to achieve success. He explains that these roles are the Hunter, the Analyst, the Money, and the Hammer. Each role plays a vital part in finding, analyzing, financing, and managing deals. Matt emphasizes the importance of self-awareness and understanding your strengths and weaknesses when assembling your team. He also discusses the possibility of having team members wear multiple hats and how these roles can evolve into divisions as your company grows. Additionally, Matt shares his experience with his first 10-unit apartment building and his current 336-unit deal, demonstrating the power of scaling up with the right team in place.
Matt Faircloth has been a full-time investor since 2005. In that time he has successfully completed projects involving dozens of fix and flips, office buildings, single-family homes, and apartment buildings.
He has completed over a Hundred Million in real estate transactions and controls thousands of units of multi family. He is a regular contributor and podcast guest on Bigger Pockets.com, has an active YouTube Channel dedicated to educating investors, and the author of the Amazon Best Seller, Raising Private Capital, how to Build your Real Estate Empire with Other People's Money.
00:00:00 - 00:02:00 The Four Essential Roles of a Multifamily Investment Team
- The Hunter: Finds and secures deals
- The Analyst: Lives in spreadsheets and analyzes deals
- The Money: Attracts investors and assembles financial wherewithal
00:02:00 - 00:04:00 The Money's Role and the Importance of the Hammer
- The Money explains complex concepts simply to investors
- The Hammer drives the business plan and ensures success
- All four roles are necessary for a successful investment
00:04:00 - 00:06:00 Assembling Your Team Based on Strengths and Weaknesses
- Identify which role speaks to you the most
- Find team members who complement your strengths
- Roles can overlap, but separate as the company grows
00:06:00 - 00:09:00 Additional Team Members and Matt's First Apartment Deal
- Other essential team members: brokers, attorneys, property managers, etc.
- Matt's experience with his first 10-unit apartment building
- The importance of disclosing unique property features to tenants
00:09:00 - 00:13:00 Scaling Up to Larger Deals and Increasing Returns
- Matt's current 336-unit apartment complex deal
- Adding amenities and upgrading units to increase rents
- Achieving high cash-on-cash returns through simple improvements
Quotes:
"If you are self aware, if you take personal inventory for yourself, and if you have the courage to look at your strengths and also your weaknesses you can assemble this for yourself and figure out where you sit on this bus." - Matt Faircloth
"As much as your ego may tell you, you can do all this stuff yourself and you're good at everything. You may not be, you might need a team around you that can help you do some of the awesome, some of the awesome stuff that needs to happen in real estate." - Matt Faircloth
Connect with Matt:
LinkedIn:
https://www.linkedin.com/in/mdfaircloth/
https://www.linkedin.com/company/derosagroup/Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
-
How can building a diverse team with aligned values and complementary superpowers propel your real estate business to new heights?
In this episode, Matt Faircloth, a seasoned real estate investor and author, shares his insights on building a powerhouse multifamily team. He emphasizes the importance of having a diverse team with aligned values, goals, and expectations. Matt explains that while it's possible to operate as a solo investor in smaller deals, larger multifamily investments require a team with diverse skill sets and superpowers. He provides a three-step process for building a rockstar real estate team: gaining alignment, gaining diversity, and identifying team members' superpowers. Matt also breaks down the four essential roles in a successful real estate team: the hunter, the brain, the mouthpiece, and the glue.
Matt Faircloth has been a full-time investor since 2005. In that time he has successfully completed projects involving dozens of fix and flips, office buildings, single-family homes, and apartment buildings.
He has completed over a Hundred Million in real estate transactions and controls thousands of units of multi family.
He is a regular contributor and podcast guest on Bigger Pockets.com, has an active YouTube Channel dedicated to educating investors, and the author of the Amazon Best Seller, Raising Private Capital, how to Build your Real Estate Empire with Other People's Money.
[00:00:00] - [00:02:00] Introduction: The Importance of Building a Team in Multifamily Investing
- Successful syndicators have a team behind them
- No one can be great at all the facets of multifamily investing alone
- A team will always outperform a solo investor
[00:02:00] - [00:05:00] Step One: Gaining Alignment
- Align on shared vision, values, goals, and expectations
- Entrepreneurial spirit and the law of delayed gratification are crucial
- Misalignment on these factors can break a business apart
[00:05:00] - [00:11:00] Step Two: Gaining Diversity
- Identify your own strengths and weaknesses
- Find team members with complementary skill sets and superpowers
- Diversity in work experience, skills, and behavior is essential
[00:11:00] - [00:13:00] Assessing Behavioral Strengths and Weaknesses
- Behavior assessments help determine internal wiring and instinctive reactions
- Examples include Predictive Index, DISC, Strengths Finder, and Colby
- Diverse behavioral traits prevent a team from having the same flaws and faults
[00:13:00] - [00:16:00] The Four Essential Roles in a Real Estate Team
- The Hunter: Finds opportunities and knows the market inside out
- The Brain: Analyzes deals and creates business plans
- The Mouthpiece: Raises capital and communicates with investors
- The Glue: Manages the team and keeps everyone on track
Quotes:
"No matter how brilliant your mind or strategy, if you're playing a solo game, you'll always lose to a team." - Matt Faircloth
"Find out what you are awful at, and then find someone else in the world who is awesome at it and would love to get paid to do it." - Matt Faircloth
Connect with Matt:
LinkedIn:
https://www.linkedin.com/in/mdfaircloth/
https://www.linkedin.com/company/derosagroup/Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
-
What if you could travel through time to create your dream life faster than ever before?
In this thought-provoking episode, Dr. Jamil N. Sayegh NMD shares his insights on living life with intention and purpose. He emphasizes the importance of playing all out, taking ownership of your life, and being in integrity with your commitments. Dr. Sayegh invites listeners to imagine their ideal future and then guides them on how to step into that best version of themselves right now. He offers a unique perspective on perfection and encourages consistent action and personal growth. Throughout the episode, Dr. Sayegh provides practical advice and inspiration for those seeking to create their dream life.
Dr. Jamil Sayegh is an international transformation coach, integrative naturopathic physician, facilitator of energy-work, master NLP practitioner, the host of the ‘Transformation Starts Today’ podcast, and an international #1 best-selling author. He works with leaders, champions, and high-performers from all walks of life including world-champion athletes, best-selling authors, entrepreneurs, business professionals, and more to experience more peace, happiness, and fulfillment, and create an extraordinary life without regret.
[00:00:00 - 00:02:00] Designing Your Life: Living with Intention
Life isn't a rehearsal; live deliberately and by design.
Avoid the regret of playing small and not making progress towards your goals.
Imagine your ideal life and use that vision to guide your actions today.
[00:02:00 - 00:04:00] Taking Ownership and Being in Integrity
Take responsibility for your life and ask yourself how you're creating your experiences.
If you don't like something, take action to change it instead of just complaining.
Honor your commitments and do what you said you were going to do.
[00:04:00 - 00:06:00] Time Travel to Your Best Self
Envision your ideal future with clarity and specificity.
Step into the best version of yourself right now to create the results you want faster.
Seek help and support to achieve your goals and dreams.
[00:06:00 - 00:08:00] The Power of Consistent Action
Most of our problems are created in our minds.
Perfection doesn't exist; focus on consistent action and personal growth.
Success will come if you keep showing up, improving, and putting yourself out there.
[00:08:00 - 00:11:00] Embodying Your True Essence
You are whole, perfect, and complete exactly as you are.
Embrace your role as the creator of your experiences.
Consistently apply the principles discussed to achieve your goals faster.
Quotes:
"Live with intention. Live deliberately. Design your life and live by design, not by default." - Dr. Jamil N. Sayegh NMD
"Take ownership of your life. Ask yourself, how am I creating my experience of this?" - Dr. Jamil N. Sayegh NMD
Connect with Dr. Jamil N. Sayegh:
Website: jamilsayegh.com
LinkedIn: https://www.linkedin.com/in/dr-jamil-sayegh-402aa416b/Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
-
What if the key to unlocking your full potential and achieving massive success lies in your relationship with yourself and the world around you?
In this thought-provoking episode, Dr. Jamil N. Sayegh NMD shares his profound insights on the three keys to achieving massive success in all areas of life. He emphasizes the importance of understanding that everything in life is a co-creation and that our relationships with ourselves and others play a crucial role in shaping our experiences. Dr. Sayegh encourages listeners to take responsibility for their lives, let go of blame, and embrace the power of being a creator rather than a victim. Through powerful examples and a heartfelt poem, he illustrates how our thoughts and perceptions create our reality and that no one can make us feel anything without our permission. Dr. Sayegh challenges listeners to show up fully in their lives, to play all out, and to become the person they truly want to be in order to achieve the results they desire.
Dr. Jamil Sayegh is an international transformation coach, integrative naturopathic physician, facilitator of energy-work, master NLP practitioner, the host of the ‘Transformation Starts Today’ podcast, and an international #1 best-selling author. He works with leaders, champions, and high-performers from all walks of life including world-champion athletes, best-selling authors, entrepreneurs, business professionals, and more to experience more peace, happiness, and fulfillment, and create an extraordinary life without regret.
00:00:00 - 00:04:59 | The Power of Relationship: Everything is Co-Creation
Everything in life is a relationship and a co-creation between you and the world around you. Ask yourself, "What part am I playing in this situation? How am I creating this experience for myself?" Being in integrity with yourself and others is where your power lies.00:05:00 - 00:09:59 | Breaking Free from Blame: Embracing Your Role as a Creator
Blaming others gives your power away and keeps you stuck in a victim mentality. Creators see life as happening for them, not to them, and focus on growth and learning. Take responsibility for your life and choose how you respond to situations.00:10:00 - 00:14:59 | The Inside-Out Nature of Emotions: You Create Your Experience
Emotions are an inside-out phenomenon; no one can make you feel anything without your permission. The stories you tell yourself about a situation create your emotional experience, not the situation itself. When you change your thoughts and perceptions, your emotional experience changes as well.00:15:00 - 00:19:59 | The Cookie Thief: A Lesson in Perception and Reality
Our beliefs and perceptions can often be misleading, causing unnecessary stress and frustration. When you shift your thinking, problems that are purely thought-created can dissolve instantly. Be open to questioning your assumptions and beliefs, as they may not always align with reality.00:20:00 - 00:23:00 | Playing All Out: Embodying Your Life and Becoming Your Best Self
Assess how fully you are showing up in different areas of your life and challenge yourself to play all out. Everything you want is on the other side of fear and outside your comfort zone. To achieve the results you desire, you must first become the person capable of achieving them."Everything in life is relationship. You've got the a hundred percent that you bring to the relationship and that represents 50% of the total. And then the other person, the other situation, the experience that brings 50%, it's a hundred percent, and that's 50." - Dr. Jamil N. Sayegh NMD
"No one can make me feel inferior without my permission." - Dr. Jamil N. Sayegh NMD, referencing a quote by Eleanor Roosevelt
Connect with Dr. Jamil N. Sayegh:
Website: jamilsayegh.com
LinkedIn: https://www.linkedin.com/in/dr-jamil-sayegh-402aa416b/
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/.
-
What if the key to living an extraordinary life without regret lies in your relationship with yourself?
In this thought-provoking episode, Dr. Jamil N. Sayegh NMD shares his profound insights on how one's relationship with oneself influences and determines their level of success in life. Drawing from his personal experiences and expertise as a life, business, and relationship coach, as well as a licensed naturopathic doctor, Dr. Sayegh takes the audience on a journey of self-discovery. He encourages listeners to question their beliefs about their identity, the true meaning of success, and the pursuit of happiness. Through a captivating thought experiment, Dr. Sayegh helps the audience understand that they are not limited by their name, thoughts, beliefs, or personality, but rather, they are pure possibility. He emphasizes the importance of living life on one's own terms, prioritizing happiness, and avoiding the common trap of chasing society's definition of success. Dr. Sayegh also dispels the myth of "I'll be happy when..." and reminds listeners that happiness is not a destination but a state of being that comes from within. This episode is a must-listen for anyone seeking to create an extraordinary life without regret.
Dr. Jamil Sayegh is an international transformation coach, integrative naturopathic physician, facilitator of energy-work, master NLP practitioner, the host of the ‘Transformation Starts Today’ podcast, and an international #1 best-selling author. He works with leaders, champions, and high-performers from all walks of life including world-champion athletes, best-selling authors, entrepreneurs, business professionals, and more to experience more peace, happiness, and fulfillment, and create an extraordinary life without regret.
00:00:00 - 00:04:00 | Unleashing the Power of an Extraordinary Life
Dr. Sayegh shares his mission to help leaders and high performers create an extraordinary life without regret
He discusses how his father's near-death experience inspired him to live life fully
The importance of living life on your own terms and avoiding regret is emphasized
00:04:00 - 00:08:00 | Discovering Your True Identity: A Thought Experiment
Dr. Sayegh takes the audience through a thought experiment to uncover their true identity
He explains that we are not our name, thoughts, beliefs, personality, or even our physical body
The realization that we are pure possibility and the power to choose who we want to be is highlighted
00:08:00 - 00:12:00 | Redefining Success: Living Life on Your Own Terms
The personal nature of success and the importance of defining it by one's own standards is discussed
Dr. Sayegh presents a contrast between a wealthy but unhappy individual and a content, fulfilling life with less material wealth
He encourages listeners to prioritize their happiness and understand the opportunity cost of their choices
00:12:00 - 00:15:00 | Embracing a Life Without Regret: Lessons from the Dying
The top five regrets of the dying, as observed by palliative care nurse Bronnie Ware, are shared
Dr. Sayegh urges listeners to live intentionally and deliberately create a life without those regrets
The importance of acting on the things that matter most to you is emphasized
00:15:00 - 00:17:00 | Dispelling the Myth of "I'll Be Happy When..."
Dr. Sayegh challenges the common belief that happiness is achieved through external accomplishments
He explains that emotions come from within and that happiness is a state of being, not a destination
The idea that "there isn't better than here, there is only different" is introduced, emphasizing the importance of internal fulfillment
Quotes:
"You are pure possibility. You are this moment. Exactly as you are right now, you are who you choose to be." - Dr. Jamil N. Sayegh NMD
"Happiness isn't a place to get to, happiness is a place to come from." - Dr. Jamil N. Sayegh NMD
Connect with Dr. Jamil N. Sayegh:
Website: jamilsayegh.com
LinkedIn: https://www.linkedin.com/in/dr-jamil-sayegh-402aa416b/Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/.
-
How can wholesalers effectively market their business and find motivated sellers in today's competitive real estate market?
In this insightful episode, Shaneka Lene' shares her valuable experiences and strategies for succeeding as a real estate wholesaler. She emphasizes the importance of being transparent with sellers, constantly educating oneself, and utilizing various marketing techniques such as driving for dollars, bandit signs, and SMS text blasts. Shaneka also highlights the significance of building relationships with other wholesalers and attending local real estate investor association (REIA) meetings to expand one's network and knowledge. Throughout the conversation, she provides practical tips on how to navigate the challenges of wholesaling while maintaining a strong worklife balance as a mother.
Shaneka Lene’, affectionately referred to as “Sis”, is a real estate mogul and developer in her own right. Sis currently owns a multi million dollar real estate portfolio, which includes two mobile home parks, mobile homes and single family homes throughout NC.
Shaneka also owns Hospitality Home Solutions, a family owned and operated full service remodeling company, which has worked with companies like Clayton Homes. In addition, in 2022, Shaneka became the first Black woman to be a licensed mobile home dealer, contractor, and mover in the state of North Carolina! To date, Sis has also acquired her license as a septic contractor in order to help aid in the development sector of her company. Shaneka is also the owner of Coastal Carolina Villas, a multimillion dollar development, including a Tiny Home Community, RV Resort, and Glamping that is scheduled to be open to guests in the summer of 2024.
00:00:00 00:02:00 Be Transparent with Sellers
Use local real estate investing terms that sellers can understand
Be upfront about the possibility of assigning the contract to another investor
Most sellers don't mind as long as the wholesaler follows through and closes the deal
00:02:00 00:04:00 Staying Current in the Real Estate Market
Listen to educational podcasts like Real Estate Disruptors and Flip to Freedom
Follow interesting episodes from BiggerPockets when posted by others
Drive for dollars with family members to find motivated sellers
00:04:00 00:07:00 Effective Marketing Strategies for Finding Motivated Sellers
Use PropStream to download lists and send SMS text blasts
Drive for dollars and cold call the leads generated
Utilize bandit signs, which often result in warm leads ready to sell
00:07:00 00:10:00 Pivoting and Adapting to Changes in the Wholesaling Industry
Be flexible and adaptable to adjust to any changes in regulations
If required, obtain a license to continue wholesaling
Attend local REIA meetings to stay informed and network with real estate attorneys
00:10:00 00:13:00 Tips for Success in Wholesaling
Invest in yourself and your education to separate yourself from competitors
Be professional, honest, and answer your phone promptly
Return phone calls in a timely manner, as the business is timesensitive
"I'm always up front with my sellers. Some of them don't understand the language of wholesaling. I don't come out and say: I'm a wholesaler or anything like that. But I will say if, if this property doesn't work for me, I may flip it to another investor, you know, i.e. assign it." - Shaneka Lene'
"It's all in being able to be flexible and adaptable and to adjust to whatever the changes. So say for instance, they require wholesalers to become licensed. So you go get your license and you continue to wholesale." - Shaneka Lene'
Connect with Shaneka:
Facebook Group: https://www.facebook.com/groups/670062460067947/
Facebook: https://www.facebook.com/shaneka.shipman
Instagram: https://www.instagram.com/sisshaneka/?hl=en
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/.
To learn more about me, visit my LinkedIn profile, and connect with me
-
Have you ever wondered how overcoming personal trials and tapping into the power of community can skyrocket your success in the competitive world of real estate wholesaling?
In this empowering episode, we dive into the remarkable journey of Shaneka Lene’, a dynamo in the realm of real estate wholesaling. From starting her wholesaling business while pregnant with her fifth child to navigating the complexities of being a serial entrepreneur and a dedicated mother, Shaneka's story is a testament to resilience, passion, and the transformative power of community support. Through her insights and experiences, we explore the nuances of building a thriving business against the odds, the importance of fostering women-led initiatives in the real estate sector, and the strategies that propelled her Facebook group to a 20,000-strong community in record time.
Shaneka Lene’, affectionately referred to as “Sis”, is a real estate mogul and developer in her own right. Sis currently owns a multi million dollar real estate portfolio, which includes two mobile home parks, mobile homes and single family homes throughout NC.
Shaneka also owns Hospitality Home Solutions, a family owned and operated full service remodeling company, which has worked with companies like Clayton Homes. In addition, in 2022, Shaneka became the first Black woman to be a licensed mobile home dealer, contractor, and mover in the state of North Carolina! To date, Sis has also acquired her license as a septic contractor in order to help aid in the development sector of her company. Shaneka is also the owner of Coastal Carolina Villas, a multi-million dollar development, including a Tiny Home Community, RV Resort, and Glamping that is scheduled to be open to guests in the summer of 2024.
[00:00:00 - 00:02:00] The Leap of Faith:
Shaneka's transition into real estate wholesaling
Overcoming the initial hurdles with remarkable success
Balancing entrepreneurship with motherhood
[00:02:00 - 00:04:00] Building a Community from Scratch:
The inception of a Facebook group amidst challenges
Strategies for rapid community growth and engagement
The importance of providing value and being relatable
[00:04:00 - 00:06:00] Empowering Women in Real Estate:
Launching LiveWIRED 2020 for women in real estate
Creating a platform for women to shine and support each other
The impact of all-women events in a male-dominated field
[00:06:00 - 00:08:00] Collaboration Over Competition:
Shaneka's philosophy on collaboration and support
The power of loyalty and relationship-building in business
Encouraging a spirit of generosity and mutual success
[00:08:00 - 00:10:00] Overcoming Personal and Professional Challenges:
Shaneka's journey through adversity to success
The concept of the "mom tax" and its impact
Strategies for balancing business growth with family commitments
Quotes:
"I really embrace the spirit of collaboration. So anytime I can collaborate with others, especially women... it's something special." - Shaneka Lene’
Connect with Shaneka:
Facebook Group: https://www.facebook.com/groups/670062460067947/
Facebook: https://www.facebook.com/shaneka.shipman
Instagram: https://www.instagram.com/sisshaneka/?hl=en
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/.
To learn more about me, visit my LinkedIn profile, and connect with me
-
Have you ever wondered how overcoming personal trials and tapping into the power of community can skyrocket your success in the competitive world of real estate wholesaling?
In this empowering episode, we dive into the remarkable journey of Shaneka Lene’, a dynamo in the realm of real estate wholesaling. From starting her wholesaling business while pregnant with her fifth child to navigating the complexities of being a serial entrepreneur and a dedicated mother, Shaneka's story is a testament to resilience, passion, and the transformative power of community support. Through her insights and experiences, we explore the nuances of building a thriving business against the odds, the importance of fostering women-led initiatives in the real estate sector, and the strategies that propelled her Facebook group to a 20,000-strong community in record time.
Shaneka Lene’, affectionately referred to as “Sis”, is a real estate mogul and developer in her own right. Sis currently owns a multi million dollar real estate portfolio, which includes two mobile home parks, mobile homes and single family homes throughout NC.
Shaneka also owns Hospitality Home Solutions, a family owned and operated full service remodeling company, which has worked with companies like Clayton Homes. In addition, in 2022, Shaneka became the first Black woman to be a licensed mobile home dealer, contractor, and mover in the state of North Carolina! To date, Sis has also acquired her license as a septic contractor in order to help aid in the development sector of her company. Shaneka is also the owner of Coastal Carolina Villas, a multi-million dollar development, including a Tiny Home Community, RV Resort, and Glamping that is scheduled to be open to guests in the summer of 2024.
[00:00:00 - 00:02:00] The Leap of Faith:
Shaneka's transition into real estate wholesaling
Overcoming the initial hurdles with remarkable success
Balancing entrepreneurship with motherhood
[00:02:00 - 00:04:00] Building a Community from Scratch:
The inception of a Facebook group amidst challenges
Strategies for rapid community growth and engagement
The importance of providing value and being relatable
[00:04:00 - 00:06:00] Empowering Women in Real Estate:
Launching LiveWIRED 2020 for women in real estate
Creating a platform for women to shine and support each other
The impact of all-women events in a male-dominated field
[00:06:00 - 00:08:00] Collaboration Over Competition:
Shaneka's philosophy on collaboration and support
The power of loyalty and relationship-building in business
Encouraging a spirit of generosity and mutual success
[00:08:00 - 00:10:00] Overcoming Personal and Professional Challenges:
Shaneka's journey through adversity to success
The concept of the "mom tax" and its impact
Strategies for balancing business growth with family commitments
Quotes:
"I really embrace the spirit of collaboration. So anytime I can collaborate with others, especially women... it's something special." - Shaneka Lene’
Connect with Shaneka:
Facebook Group: https://www.facebook.com/groups/670062460067947/
Facebook: https://www.facebook.com/shaneka.shipman
Instagram: https://www.instagram.com/sisshaneka/?hl=en
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/.
To learn more about me, visit my LinkedIn profile, and connect with me
-
Have you ever wondered how the pandemic not only changed the way we work but also how we choose to invest, live and travel?
In this captivating episode, Angel Williams sits down with Ben Spiegel to explore the unexpected boom in the RV industry, fueled by the pandemic's lasting impact on work and lifestyle preferences. Ben, with his deep insights into the RV market, discusses the shift towards remote work, the rising demand for RVs among millennials, and how these trends are reshaping the concept of leisure and living. Through their conversation, we delve into the economic forces at play, the challenges of the RV industry, and the potential for innovation and disruption in outdoor hospitality.
Ben Spiegel is a seasoned investor in special situations, with a focus on maximizing value across diverse assets like real estate and private equity. With over $500 million deployed, he has a knack for identifying opportunities in complex situations. As the founder of Redwood Capital Advisors, LLC, Ben specializes in commercial real estate and capital raising, notably in luxury outdoor hospitality, aiming to build over 2,000 sites along the Gulf Coast. His prior experience includes roles at DG Capital Management and Barclays Capital, and he serves on several boards, enhancing his industry influence.
[00:01:00-00:03:00] The New Road Warriors: Millennials are transforming the RV landscape, choosing nomadic lifestyles over traditional homeownership.
RV ownership demographics are shifting younger.
The pandemic has accelerated the RV industry's growth.
Challenges in meeting the demand for RV-friendly destinations.
[00:03:00-00:05:00] Beyond the Pandemic: A Lifestyle Revolution: How COVID-19 has permanently altered work and leisure preferences.
Remote work becomes a lasting trend.
Increased valuation of leisure and self-care.
The shift towards experiential living over material possessions.
[00:05:00-00:07:00] Economic Winds of Change: The financial realities prompting millennials to embrace RV living.
Skyrocketing housing prices and interest rates.
The appeal of a nomadic, experience-rich lifestyle.
Inflation and wage stagnation impacting living choices.
[00:07:00-00:09:00] Hospitality on Wheels: The evolving landscape of vacationing in an RV.
Cost-effective alternatives to traditional vacations.
The integration of RV travel with mainstream hospitality brands.
The role of technology and amenities in enhancing RV experiences.
[00:09:00-00:11:00] Steering Towards the Future: The potential for innovation in outdoor hospitality management.
The importance of human capital in the RV park and resort industry.
Strategies for attracting and retaining top talent.
The impact of ownership and incentive structures on operational success.
Quotes:
"Millennials are choosing to put their equity on wheels and live a nomadic lifestyle, valuing experiences more than traditional homeownership." - Ben Spiegel
"The pandemic was the fourth bullet point that launched the RV industry into the stratosphere, indicating a structural rather than a cyclical change." - Ben Spiegel
Connect with Ben:
Website: www.redwoodcapitaladvisors.com
Instagram: https://www.instagram.com/redwoodcapitaladv
LinkedIn:https://www.linkedin.com/company/redwoodcapital
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/.
To learn more about me, visit my LinkedIn profile, and connect with me
-
What does it take to pivot from a high-stakes investment banking career to making waves in the niche and lucrative world of RV resorts and outdoor hospitality?
In this enlightening episode, Angel Williams and guest Ben Spiegel dive into the transformative journey from investment banking to creating a successful empire in the RV resort and outdoor hospitality industry. Ben shares his unique approach to investment, highlighting the importance of special situations that offer outsized returns with minimal risk. Through a series of insightful anecdotes and expert advice, listeners will gain a deeper understanding of the challenges and opportunities within the RV park investment landscape, from selecting the right location to understanding the nuances of operating in this specialized market.
Ben Spiegel is a seasoned investor in special situations, with a focus on maximizing value across diverse assets like real estate and private equity. With over $500 million deployed, he has a knack for identifying opportunities in complex situations. As the founder of Redwood Capital Advisors, LLC, Ben specializes in commercial real estate and capital raising, notably in luxury outdoor hospitality, aiming to build over 2,000 sites along the Gulf Coast. His prior experience includes roles at DG Capital Management and Barclays Capital, and he serves on several boards, enhancing his industry influence.
[00:01:00 - 00:03:00] From Wall Street to Main Street: Ben's transition from investment banking to real estate and entrepreneurship.
Leveraging finance experience in real estate investment. The decision to pursue entrepreneurship. Initial steps into the real estate industry.[00:03:00 - 00:07:00] Navigating Niche Investments: Exploring unique opportunities from RV parks to tugboats.
Asset-agnostic investment philosophy. The appeal of special situations for outsized returns. Diversification across various real estate assets.[00:07:00 - 00:11:00] The RV Resort Revolution: Ben's foray into outdoor hospitality and the challenges faced.
Initial hesitations and concerns about the RV business model. Importance of location and customer experience. Learning from experts to avoid pitfalls.[00:11:00 - 00:15:00] Operational Insights & Industry Dynamics: Differentiating between resorts and communities.
The operational nuances of running RV resorts vs. communities. The significance of amenities and guest experience. Strategic considerations for location and investment.[00:15:00 - 00:19:00] Future Trends & Success Strategies: Ben's vision for the future of RV resorts and keys to success.
Embracing technology and innovation in operations. The importance of long-term occupancy and customer loyalty. Anticipating market trends in outdoor hospitality.Quote:
"I consider myself asset-agnostic... focusing on special situations where I can earn an outsized return with minimal risk." - Ben Spiegel
Connect with Ben:
Website: www.redwoodcapitaladvisors.com
Instagram: https://www.instagram.com/redwoodcapitaladv
LinkedIn:https://www.linkedin.com/company/redwoodcapital
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/.
To learn more about me, visit my LinkedIn profile, and connect with me
-
How can understanding the nuances of tax liens and foreclosure processes turn distressed properties into lucrative investments?
In this episode, host Angel Williams explores the topic of tax liens when it comes to non-performing notes with guest speaker Kristin Gerst. They delve into the complexities of investing in tax liens and the potential pitfalls to be aware of. From understanding the right of redemption to considering property condition and after-repair value, they provide valuable insights for investors. They also discuss the differences between judicial and non-judicial states and the importance of researching eviction processes in different areas. Whether you're new to note investing or looking to expand your knowledge, this episode offers practical advice and strategies.
Kristin Gerst is the Managing Director at Capricorn Mortgage Investments. Capricorn Mortgage Investments buys high interest rate mortgages from small business owners and companies and sells them to large institutional buyers.
(00:00 - 08:23) Title: Tax Liens Demystified
- Exploring the concept of tax liens and their potential for investment.
- Understanding the right of redemption and its impact on investment strategies.
- Factors to consider when assessing the value of tax liens, including property taxes and vacancy rates.
(08:24 - 18:45) Pitfalls of Non-Performing Notes
- Considering the limitations of investing in non-performing notes and the inability to inspect properties.
- Assessing property condition and estimating repair costs in non-performing note investments.
- Analyzing borrower behavior and the likelihood of loan modifications or non-payment.
(18:46 - 26:57) Judicial vs. Non-Judicial States
- Understanding the differences between judicial and non-judicial states in the foreclosure process.
- Exploring the length of foreclosures and the need for court approval in judicial states.
- Identifying non-judicial states that may pose challenges in eviction processes and timelines.
(26:58 - 35:20) Researching Foreclosure Timelines
- Highlighting the importance of researching foreclosure and eviction timelines at the city and county levels.
- Considering factors that may impact foreclosure and eviction processes in different areas.
- Making informed decisions about purchasing non-performing notes based on foreclosure and eviction timelines.
- Exploring potential sources for non-performing notes, such as small banks and credit unions.
- Building relationships with asset managers and specifying requirements for non-performing notes.
- Navigating the process of bidding and evaluating non-performing notes for potential investment opportunities.
Quotes:
- "Property condition and after repair value are crucial factors to consider in non-performing note investments." - Kristin Gerst
- "Understanding the differences between judicial and non-judicial states can significantly impact your foreclosure timelines." - Kristin Gerst
Connect with Kristin:
LinkedIn: https://www.linkedin.com/in/kristin-gerst-a2a6a66/
Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!
LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.
Are you confused about where to start? Join our community and learn more about real estate investing.
Head over to our Facebook Page, Youtube Channel, or website
https://www.theacademypresents.com/jointhesummit36848306.
Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/.
To learn more about me, visit my LinkedIn profile, and connect with me
- Laat meer zien
