Welcome to The Big Mike Fund Podcast. Today it is my pleasure to have Robert Nickell here on the show with me. Rob is another brother from the Collective Genius Mastermind. He’s also known as the “Master Blaster of the Virtual Assistants.” While he is an expert in virtual staffing, it was his career in real estate that got him there. Today we’re talking about virtual staffing and virtual assistants, productivity, documenting processes, and Rob’s business, Rocket Station. Rob talks about how small businesses and large companies use virtual assistants and what sorts of things virtual assistants do.   Minute Markers: 00:20 - Welcome 01:00 - A little bit about Robert Nickell 03:20 - Living in a modern world/the need for virtual assistants 11:00 - VA work is scripted work 12:35 - VA productivity with small companies 14:00 - Documenting processes 20:30 - Staffing at VA Services 25:15 - Near-shoring and Out-shoring (outsourcing) 28:40 - The best way to reach Rob 30:38 - Thank you for listening to the Big Mike Fund Podcast   Quotes: “It’s so easy now, for everything to be interconnected, whether you’re a small business with just a couple of people working in the day-to-day or you’re a publicly traded company. We all operate very similarly today.” – Robert Nickell “Most companies, they hire people, you sit next to a colleague, you just kinda watch people, you absorb through osmosis I call it, through just, kind of, working in there. After 2, 3, 4 months, you’ve been around it enough and watched enough that you get it. Even big companies don’t do a good job documenting processes.” – Robert Nickell “For us it starts with that system mapping, that process documentation. That creates the road map.” – Robert Nickell “We leverage things like cultural index and other profiling resources that are a big investment for our company but our clients are ultimately the ones that get to benefit from that.” – Robert Nickell “80% to 90% of the real estate business can be outsourced, whether that’s somebody locally, in your market, or overseas. It’s really easy to take marketing transaction coordination, disposition management, all the day-to-day admin, bookkeeping and accounting, reconciliation (month over month), there’s not really anything in real estate that can’t be done.” – Robert Nickell   Resources: Rocket Station Website Greg’s email address: Brooks@rocketstation.com

Big Mike Fund Podcast

069: How Small Businesses and Large Companies Use Virtual Assistants with Robert Nickell

Welcome to The Big Mike Fund Podcast. Today it is my pleasure and a privilege to talk to friend and mastermind brother, Fernando Angelucci, a real estate and self-storage guru. In this episode we talk about self-storage trends, numbers, “eviction” (or in this case, lien) laws, and Fernando’s process. We’ll also chat about the future of self-storage and Fernando’s future projects and opportunities.   Minute Markers: 00:22 - Hello and Welcome 01:00 - Who is Fernando? 03:20 - Eviction and motivating renters to pay 05:25 - Absorption rate lease-up 07:00 - Self-Storage trends 09:00 - Fernando’s Self-storage “eviction” process 11:15 - Buying existing self-storage facilities 16:00 - Fernando’s new projects and opportunities 20:00 - Upcoming deals 23:50 - Bank loan interest rates 27:12 - Delinquencies and occupancy trends for self-storage 31:15 - The near future for self-storage and cap rates 33:00 - Getting in touch with Fernando 00:00 - Thank you for listening to the Big Mike Fund Podcast   Quotes: “Since the COVID pandemic started and really hit the United States, our occupancies across all of our facilities have actually increased. In some of the facilities where we thought we were at an artificial ceiling on occupancy, we've actually exceeded those levels. We're getting a lot of people coming into the self storage facilities. I think the main reason is self storage serves people in transition.” – Fernando Angelucci “For maybe every 1 development we do, we'll buy 10 cash-flowing existing self storage facilities to balance it.” – Fernando Angelucci “What we've noticed is unfortunately for the investors that own assets in the B- and below grade areas—West Side of Chicago, South Side of Chicago—their April 1st delinquencies were massive. Over 60%.” – Fernando Angelucci “When you have your non-sophisticated sellers (what I call the mom and pops) that may own one or two facilities, those cap rates for us are going through the roof. We're starting to make blanket offers on any facility that comes in before we even look at it. We're doing 10% plus cap rate offers and they're getting accepted.” – Fernando Angelucci “People are going to step down. Everybody's stepping down, so the demand for the affordable stuff is increasing while the high-end upgrades people just not. They're delaying their decisions because of uncertainty.” – Mike Zlotnik   Resources: LinkedIn: Fernando Angelucci  Titan Wealth Group website Twitter: @TheStorageStud The Storage Stud website

068: The Near Future for Self-Storage and Cap Rates With Fernando Angelucci

Welcome to The Big Mike Fund Podcast. Today I’m talking to Mike Fitzgerald, who lives in (and owns a large portion of) a small town just outside of DC. In this episode we talk about his town of Hagerstown, preparations for the future of the market, what a credibility site is, and we even have a short political discussion on voting for people and not just on party lines.  Minute Markers: 00:20 - Welcome to the Big Mike Fund Podcast 00:40 - A bit about Mike Fitzgerald and Hagerstown, MD 04:57 - Mike’s formula for success in real estate 06:35 - “Rehab” projects 08:08 - Preparations for economic downturn 11:30 - Mike’s thoughts on the future of the market 12:25 - The connection of legalizing marijuana to the recession and the market 13:50 - The basics and value of investing 14:20 - Hagerstown investments 18:45 - Credibility site 20:00 - Political discussion: voting for the people, not the party 22:14 - Advice for real estate investors or people interested in real estate 24:00 - How to get in contact with Mike Fitzgerald 24:46 - Thank you for listening to The Big Mike Fund podcast   Quotes: “Taking action. Moving forward and taking action and not accepting ‘No’ as an answer.” – Mike Fitzgerald, on his formula for success “I think we’re due for a recession but I don’t think we’re going to get one for another two years.” – Mike Fitzgerald  “Although I vote (a lot of times) republican, I don’t always vote party line.” – Mike Fitzgerald  “It’s not about what makes you happy for a minute, it’s about what makes you fulfilled for a lifetime.” – Mike Fitzgerald “That’s actually a great point. The person matters, especially if they are sufficiently independent and if they have great individual thoughts.” – Mike Zlotnik “Yeah, it’s a difficult time for middle-of-the-road people. They don’t seem to appeal to the extremes and the extremes on both sides seem to be dominating each party.” – Mike Zlotnik   Resources: Gideon Properties Michael T. Fitzgerald credibility site (Password: abc) Article referred in show: “City developer wants to make downtown Hagerstown 'great again'”

067: The Basics and Value of Investing With Mike Fitzgerald

Welcome to The Big Mike Fund Podcast. Today it is my pleasure and a privilege to have Caleb Pearson behind the mic. He is another brother from the Mastermind group. On this episode, Caleb and I talk about Zoom Offers (Caleb’s web-based real estate software), the future of the market, contractors, interest rates, and the prevalence of remote work in the suburbs even before the pandemic.   Minute Markers: 00:22 - Welcome 01:40 - About Caleb 03:00 - What is Zoom Offer? 05:25 - Zoom Offers’ two main features 10:30 - Zoom Offers details 11:55 - The future of the market 14:40 - Political climates, news, and how it affects the market 16:30 - Caleb’s pulse on the market 17:15 - Contractors, vendors, and labor issues 20:20 - Interest rates 22:30 - People living in the suburbs and working in the city or remotely 24:34 - Getting in contact with Caleb 25:49 - Thank you for listening to the Big Mike Fund Podcast   Quotes: “The market here is changing. It’s not as easy as it was to sell homes. You can’t just list anything at any price and it gets showings and gets contracts. It’s niche-y to where certain price points in affordable housing.” – Caleb Pearson “You get to a project where [contractors] try to either to you or you try to push them too hard to where they start to resent you and it hurts us.” – Caleb Pearson “One interesting thing is the interest rates. One of the big variables is where we’re going with the interest rates. [...] It’s the same theory that I had, that the long term interest rates in the long run had nowhere to go but down. We may not hit the absolute zero, but there’s just no way for the US economy in general to afford higher interest rates.” – Mike Zlotnik “Whatever economic change and individual situations, people can always scale down, can’t scale up.” – Mike Zlotnik   Resources: ZoomOffersNow.com  Caleb email: calebcpteam@gmail.com

066: The Future of Real Estate Market With Caleb Pearson

Welcome to The Big Mike Fund Podcast. Today I’m talking with Ramon Gonzalez. Ramon is an investor and entrepreneur, based out of Miami, Florida. In this episode we talk about passive versus active investors, Ramon’s risk aversion and his investment philosophies, the importance of building a good team, market cycles, and future predictions. Minute Markers: 00:22 – Welcome 00:55 - A bit about Ramon Gonzalez 01:47 - Ramon’s investments and business 06:10 - Market cycles and future predictions 10:00 - Miami condos 13:14 - Areas of opportunity 16:30 - Japan model 17:40 - Passive vs. Active (and hybrid) 22:00 - Risk premium 28:00 - Building a good team 33:30 - Final thoughts and reaching out to Ramon 34:25 - Thank you for listening to the Big Mike Fund Podcast Quotes: “I don’t know of any business that, if the business is growing, the owner is not engaged.” – Ramon Gonzalez “At this state in the market cycle, no one is going to give you a steal. It’s just not going to happen in a primary market.” – Ramon Gonzalez  “Because of my risk aversion, I come to the party late and I leave early.” – Ramon Gonzalez, about the market and rates “I think that--a lot of operators--they need to know their market. My market has always been a history of booms and busts but I understand my market. I understand what drives it.” – Ramon Gonzalez “What you want to do is minimize risk; be nimble; if you can wholesale, get out quickly… Again, mitigate risk and get out.” – Ramon Gonzalez “The deal has to make sense.” – Ramon Gonzalez and Mike Zlotnik “Are you investing to learn or learning to invest?” – Mike Zlotnik “Experience is what you get when you don’t get what you want.”  – Mike Zlotnik Resources: “Investing in Real Estate Equity: An Insider’s Guide to Real Estate Partnerships, Funds, Joint Ventures & Crowdfunding” by Sean Cook TF Management Group LLC Newsletter Both on Board Podcast Both on Board Instagram Both on Board, Facebook Group

065: Market Cycles and Future Predictions With Ramon Gonzales

Welcome to The Big Mike Fund Podcast. Today I’m talking with Dr. Merril Rowe, who is moving from his profession as a professional dentist and changing to a career as a professional passive investor. We met through the Freedom Founders community, run by David Phelps. On this episode, we’re talking about how Merril buys himself time to make his financial and retirement goals, how he sets up his portfolio, stock market investing versus passive real estate investments, and advice on how to bring in some passive income. Minute Markers: 00:35 - Hey Merril 00:44 - All About Merril 03:13 - Career change into passive investing 04:10 - How Merril generates cash 07:40 - Stock market versus the passive real estate market 08:15 - The rates of return after conversion 10:45 - Diversification and knowing your financial goals 12:29 - Merril’s advice for those getting ready to retire 17:20 - Specific investments and the Tempo Opportunity Fund 25:52 - Merril’s experience with turnkeys 30:25 - Funds and syndications 31:25 - Merril’s additional thoughts and recommendations 35:22 - Thanks to Merril and a final summary 36:15 - How to reach Merril 37:42 - Thanks for listening to the Big Mike Fund Podcast  Quotes: “But for me, most importantly, it was based on my lifestyle and what I wish to do with my life after I get done with dentistry. Was this going to provide me with the money that I wanted to go ahead and live my life the way I chose?” - Merril Rowe “Understand, (a) what your basic needs are, and (b) what your wants are. Put it all down on paper because what you need to retire and what you would really like to retire are very often different things.” - Merril Rowe “First off, you have to learn about this stuff. But secondly, what you do after you learn about it is you look at your situation, you look at the market, you look at your opportunities, and you invest appropriately.” - Merril Rowe “You’re certainly still working and enjoying a little bit of active income, but you're preparing to go completely passive. From that perspective, you're ready to turn off the working switch any day of the week if you feel like it but because you're enjoying the work, you're still doing it, and you may sell a practice some point in the future, you don't have to do this.” - Mike Zlotnik “You're building a diversified portfolio. You're not putting all your eggs in the same basket, you're spreading the risk around, and that helps reduce the risk because you never know.” - Mike Zlotnik Resources: Merril’s Email: merrow8@aol.com (reference Big Mike in the email)

064: How to Bring in Some Passive Income With Dr. Merril Rowe

Welcome to The Big Mike Fund Podcast. Today I’m talking with Nathan Trunfio, a new brother from the Collective Genius Mastermind. Nathan hales from Bethlehem, Pennsylvania and has done over a billion dollars in loans on single-family and multi-family assets. He has spent his entire career in real estate as a lender and an equity investor. Now he works as the president of DLP (Direct Lending Partners). Today we’re going to talk about what DLP does, Nathan’s predictions for the real estate market and what trends he sees now, as well as his average costs and returns on flips and new builds. Minute Markers: 00:22 - Welcome to the Big Mike Fund Podcast 00:48 - A bit about Nathan Trunfio 04:00 - What does DLP do? 06:39 - What does Nathan think about the market today? 13:35 - The trends Nathan has been seeing in real estate 19:00 - The average return on flips, margins, and yields 21:11 - Mike’s Golden Max Ratio 22:24 - New construction trends 25:18 - Construction build costs and DLP models 29:20 - Final thoughts and how to contact Nathan 31:09 - Thank you for listening to the Big Mike Fund Podcast Quotes: “It’s a lot of hard work because I’m not naturally that smart. You just got to work hard to try to learn and retain.” - Nathan Trunfio “There's still a ton of opportunities for good acquisitions and good value creation. You just had to be super disciplined and really know what you're getting in and out of.” - Nathan Trunfio “You see a lot of deals falling out because a lot of debt nowadays, especially in the agency type side, is debt service constraints, which again, is a sign of good diligence as lenders in restricting the amount that they're looking to give them leverage.” - Nathan Trunfio “The average return on flips was around like the high $60,000 about a year ago. That's not taking into account renovation amounts because they can't pull the data to know how much renovation was spent..” - Nathan Trunfio “I think there's a lot to say about the build-to-rent space, but I think a lot of real estate investors are also becoming and falling in love with that terminology. To me and to us, the build-to-rent space really only works in scale and in bulk..” - Nathan Trunfio “If you have the liquidity and the experience to build in bulk whether that's 20, 30, 40 plus starts and or builds in a given year, quarter, or half a year, then the build-to-rent model can make some space, especially since there's a huge appetite for a lot of the hedge funds out there to buy the end product..” - Nathan Trunfio “If you’re not learning, you’re dying. Some of the most successful people in the world (from a business standpoint) are also almost always heavy and avid readers.” - Nathan Trunfio “I like to use the 75% as the golden max ratio. If you're a rehabber, your purchase with rehab should not exceed 75%. I know a lot of California guys and they push you sometimes to 83%–84%. It's crazy. You look at this and it's like a game of perfection. As long as the prices keep climbing up, it works.” - Mike Zlotnik Resources: Nathan Trunfio, email: nate@dlpre.com What It Takes: Lessons in the Pursuit of Excellence (Autobiography) by Stephen Schwarzman

063: Predictions for the Real Estate Market With Nathan Trunfio

Welcome to The Big Mike Fund Podcast. Today it is a pleasure and a privilege to welcome Tim Bratz. Tim is a multi-family real estate investor from the Cleveland, Ohio area. He buys, develops, and holds apartment buildings, vacation rentals, & other commercial real estate properties throughout Ohio, South Carolina, Georgia, Florida, Oklahoma, & Texas. Today we’re talking about the impact that COVID-19 has had on one of his biggest projects: Georgia Plains. We’ll talk a little bit about the background of Georgia Plains and the mechanics behind it. Tim and I also go over his plans for the rest of 2020 as well as his view on the future of multi-family real estate investments. Minute Markers: 00:29 – Welcome Tim Bratz 04:15 - The courage it takes to trust a sponsor and operator 08:00 - A little about Georgia Plains 14:13 - The mechanics behind Georgia Plains 17:00 - How Tim pays an overfunded project 18:00 - Rent per door on average 21:12 - How did the virus affect the overall project? 28:00 - What are Tim’s plans for the rest of 2020 36:25 - How to get a hold of Tim 37:25 - Thank you for listening to the Big Mike Fund podcast Resources: Tim Bratz, Facebook Tim Bratz, Instagram Tim Bratz, LinkedIn Quotes: “I buy pretty heavy value-add deals like the one that you're involved in. There is a lot more work but there's a lot more upside to those.” – Tim Bratz “When you have that distressed of a property and the property has that bad for reputation, you got to go in and you got to clean up everything before you start rebranding, marketing, and bringing in new tenants because otherwise, you're just going to track the same type of tenant who's not respecting the property, not respecting their neighbors..” – Tim Bratz “When I invest, I want a predictable rate of return. At the same time, I want some equity upside. If I'm going to help somebody make a million dollars. Isn't that only fair that I get $100,000 or $200,000 also?.” – Tim Bratz “All this money goes back into the property to reinvest into the property to make sure that we're providing a clean, safe, functional, cosmetically improved housing for you as the tenant. We explain that. We said, that being said, if you are facing hardship, please reach out to us. Proactively, reach out to us. We're not going to chase you down, but if you reach out to us, we will put some workout plan together on a case-by-case basis to help you through these difficult times.” – Tim Bratz “It’s hard to find deals but we do have one deal and it's a decent deal. It's the same thing. You can give the deals in the middle of a COVID situation. It's the right value-add plan. You feel comfortable based on all the numbers you look at, but the uncertainty is still out there. It's possible that there could be better deals in the future. On the other hand, it does appear. Who knows, right?” – Mike Zlotnik

062: Impact of covid19 to Multi-Family Real Estate Investments

Welcome to The Big Mike Fund Podcast. Today I have the pleasure of chatting with Frances Newton Stacy. She works for Optimal Capital as the director of portfolio strategies. Frances is also a frequent guest on both CBS, CNBC, as well as Fox Business News as a commentator on Central Bank Policy. She also blogs about the trading community by helping to recognize key cycles and significant support and resistance levels. Today we’re talking about her thoughts on the future of the economy: jobs, the stock market, real estate, and the general overview of what we may see in the upcoming year. Minute Markers: 00:50 – A bit about Frances Newton Stacy 04:50 - Frances’ thoughts on the current state of joblessness 07:10 - Things to look out for in the near future 12:00 - Incentive programs for people to go back to work 13:36 - Things happening in real estate 15:20 - Frances’ proposals and thoughts on how to prevent rates from going negative 18:25 - Stocks, the markets, and trading 29:00 - Economist market projections 31:45 - Airlines stocks as an example of cyclical recovery 34:45 - Parting thoughts on what people should or could do with their money 41:55 - What’s the best way to get ahold of Frances? 43:30 - Thanks for listening to the Big Mike Fund podcast. Quotes: “Lower rates usually support the real estate market but in a situation where you don’t have banks willing to lend, then that kind of restrains that area. So you may not see that traditional reaction to the rates falling.” – Frances Newton Stacy “In New York City, 30% of restaurants will never open their doors again. And how many of those 30% actually default somewhere in credit-land?.” – Frances Newton Stacy “In real estate, you have to wait. We don’t know what the data is going to do but I personally wouldn’t pay pre-COVID prices until I saw what the defaults look like.” – Frances Newton Stacy, on what to do with your money in the near future. “It would be so much better to give employers and employees incentives to go back to work.” – Mike Zlotnik  Resources: Previous episode with Frances Newton Stacy Optimal Capital

061: Chatting about the future of the economy with Frances Newton Stacy

Welcome back to the Big Mike Fund podcast. Today I’m talking with my good friend, Jimmy Shiels. We’ve known each other for many years. He’s a humble and genuine guy who classifies himself as a speaker, consultant, and the crazy glue that can help keep families together. The mission for his company, 18 Summers, is to help create relationships between entrepreneurs and their families, which can get strained due to the lifestyle and professional pressures of being an entrepreneur. With this new reality, situations at home are changing and families are being impacted. Today, Jimmy shares his thoughts on what families can do while they’re at home, in order to take advantage of the time that we have together. Minute Markers: 00:35 - A little bit about Jimmy 01:15 - 18 Summers 02:00 - How the quarantine is affecting families 04:45 - The story behind 18 Summers 06:35 - One-on-one time and having conversations with your spouse or SO 08:30 - “You should have known better.” 09:15 - Too much technology 10:30 - Family dinners 11:50 - Keeping work and family life separated/multitasking 14:00 - Being separated from family 16:15 - Family retreats/Virtual events 19:50 - Reaching out to Jimmy 20:36 - Parting thoughts 21:44 - Thank you for listening to the Big Mike Fund Podcast Quotes: “The average person will spend 85% of the time they ever have with their children by the end of their 18th summer because the amount of opportunities starts to delineate because they’re off to college, they’re going into their own life.” - Jimmy Shiels “The average person--the average family 60 years ago, dinner was about 90 minutes. Now, the average time length for dinner now? 12 minutes.” - Jimmy Shiels “The days are long but the years are short.” - Jimmy Shiels “[This quarantine] is a crisis but also an opportunity.” - Mike Zlotnik “Be present; that’s the most important thing.” - Mike Zlotnik Resources: Jim Sheils Official Website The Family Board Meeting: You Have 18 Summers to Create Lasting Connection with Your Children by Jim Sheils

060: Creating Relationships Between Entrepreneurs and Their Families With 18 Summer Founder, Jim Shiels

Welcome to The Big Mike Fund Podcast. Today, I have my friend, John Martinez, from the Collective Genius Mastermind. He is an expert when it comes to training salespeople. That’s what we’re going to talk about today: sales techniques and what it takes to mold or train a successful salesperson. Even if you don’t classify yourself as a salesperson, the information that he shares in this episode can us used in other, related fields (like real estate agents, for example). Minute Markers: 01:52 - A little bit about John 03:00 - John’s bread & butter training 06:00 - Seller motivation 08:15 - “Reframing of the whole question” 13:15 - Summary of the technique 15:40 - Problem-impacting picture-perfect questions 17:35 - The REI sales economy 19:35 - How does this information apply to agents? 21:50 - Midwest Rev 23:00 - Outbound calling and cold calling 26:37 - REI Sales Academy and Branding/Names 27:59 - Final thoughts 30:26 - Thank you for listening to the Big Mike Fund Podcast Quotes: “The question that the top acquisition agents or investors ask is not how much do you think your house is worth because then you run into that conversation you talked about.” - John Martinez “[Salespeople] need to discover, through whatever questions, then you can ask why questions and get them to give the seller or house owner to start talking about their problems rather than what they want for the property.” - John Martinez “Sales isn't about pressuring anyone to do anything, sales is just about uncovering the reasons why someone would do something. The only way to get there is to remove the pressure, so people feel safe opening up and then asking questions.” - John Martinez “If you can't find the motivation, it's a useless conversation, but once you find it and you explore it, stress the key points, that's the path to success.” - Mike Zlotnik “Is it free will or predeterminism? But if they’re already talking to you, if they're spending the time, if you just help them a little bit to really see why, why they're doing this and then the decision is just so much easier.” - Mike Zlotnik Resources: Midwest Rev REI Academy

059: Sales Techniques With John Martinez

Today, I’m once again talking with Whitney Sewell, the Director at Lifebridge Capital. Whitney and I talk about the Coronavirus crisis, and its present and future impact on the multifamily space. These are difficult times for the country and world. Some of you may be losing sleep, or feeling grateful for a reserve budget and conservative underwriting. Stay healthy, keep your distance, and keep washing your hands.  Minute Markers: 01:00 - Whitney’s background  01:56 - COVID-19’s effects on multifamily space now   03:20 - COVID-19’s future impact on multifamily space  04:12 - CMBS freeze and next steps with tenants 06:28 - Proactive about possible job loss and vacancy rates 08:20 - Predicted and projected health perspective on economy 11:00 - Fear, fluctuating numbers, and looking forward to future opportunities 12:15 - Are deals going to be re-priced or re-traded? 15:23 - Marketing and always looking for more deals 18:53 - Distressed sellers, distressed situations, and big enough discounts  25:40 - Rent’s due: Who will or won’t pay, and why?  32:24 - Reaching out to Whitney Sewell 33:19 - Thank you for listening to the Big Mike Fund Podcast Quotes: “We had such a hefty reserve budget before we ever planned, before we ever knew anything, obviously, like this was going to happen. I'm so grateful that we did. Now, we can even hit something like this and we're okay. We're not losing sleep over it because of that.” - Whitney Sewell “Is it going to affect us? It's going to. I think it's going to affect us all in some way. No doubt about it. Already is. We're working with our management company. We're taking strides to be proactive.” - Whitney Sewell “I think there's going to be some opportunities for operators that are prepared. I think there's going to be some opportunities. I think there's going to be deals too that some operators have to sell and that are going to be discounted. I think we're prepared for that.” - Whitney Sewell “People who got properties, unless they have extreme distress, they're not selling. The people who are buying, I guess they want to get a good enough deal. I think that the business now just broadened quite a bit because of uncertainty.” - Mike Zlotnik  “There's going to be tenants that are going to still pay their rent because they know they should and they're supposed to. There's going to be tenants that can't pay their rent legitimately, they lost their job, they live paycheck to paycheck, they cannot make it happen. There's still going to be some that just take advantage of the situation, no doubt about it.” - Whitney Sewell Resources: Whitney Sewell Lifebr

058: COVID-19 Crisis: What’s the Impact on Multifamily?

On today’s episode, I’m once again talking with Chris Miles, an expert in infinite banking, like insurance, and being a housekeeper (and zookeeper) for his own personal Brady Bunch at home. When he’s not being a family man, Chris works with life insurance and runs his own podcast about money called the “Chris Miles Money Show”.  Chris and I are talking about the volatile stock market and insurance, life insurance policies (and Chris’ specific designs), using life insurance like extra liquid reserves, and our policies on financial planning and advice. Minute Markers: 00:23 - Introduction  00:54 - A little about Chris 02:20 - CoronaVirus and the volatile stock market vs insurance 03:05 - Infinite banking and the Internal Rate of Return 07:38 - Timing the market 09:00 - Investment quadrants 11:11 - How Chris designs policies 12:40 - Needing money from life insurance policies 15:05 - Balloon payments 16:25 - Extra liquid reserves and investing 22:30 - Life insurance and porfolios 26:00 - Financial planning and advice 31:30 - Contacting and following Chris 33:05 - Thank you for listening to the Big Mike Fund Podcast Quotes: “If you were to compare apples to apples in a savings account, it's essentially like a tax-free supercharged savings account. But instead of earning point nothing percent, you're actually earning about at least 4.5% to 5% average per year tax-free” – Chris “I never tell people you should absolutely do this recommendation of this investment. But I will say let's look at the different options that are available out there.” – Chris “Most people are smart. They don't even realize how smart they are. Given the right coaching and the right education, they can make these decisions without anybody pushing them into anything.” – Mike “The good old well-known fact is that 80% of the funds can be the index. The active managers don't necessarily, I don't know what they get paid for in essence, in the stock market.” – Mike Resources: Money Ripples Website Chris Miles Money Show, apple podcast page

057: Covid-19 and the Volatile Stock Market

Today, I have the pleasure of talking with fellow mastermind, Cory Boatright. We talk about the COVID-19 pandemic and what it means to the health of the world and to the economy as a whole.  Cory talks about some important practical things you can do with your company and your team whether they are in the office panicking or if they are working from home and panicking. We are in the midst of a storm but we can weather it together if we remember to be safe, be healthy, and take this seriously. Minute Markers: 00:23 - Introduction  01:10 - Cory on COVID-19 and the economy 05:51 - How do we lead in the midst of a storm 08:10 - Practical things you can do with your organization 13:58 - Summary of important key points 15:45 - Assets and opportunities 24:45 - COVID-19, a regular flu or worse? 30:00 - Shelter in place 32:09 - This is a humanity issue first 34:00 - Finishing on a positive note 35:41 - Thank you for listening to the Big Mike Fund Podcast Quotes: “My mentor told me a long time ago that whenever you have a headache, it sucks for you, but fantastic for Tylenol.” – Cory Boatright “You need to overcommunicate right now. If you think that talking to them one time a day is enough, it’s not. You need to overcommunicate with your folks.” – Cory Boatright “It’s a humanity issue first. And it certainly affects our businesses and our pocketbooks and all these things. Do your part in using sanitizer and taking this seriously.” – Cory Boatright “TV can be dangerous--the news can be dangerous--just to hear the bad news. At this point, we should all be thinking about what we can do to make a difference, to prepare. I like to call it ‘observing, analyzing, and preparing.” – Mike Zlotnik “I agree that the only solution right now is this extreme ‘shelter in place’, very-very aggressive, on all fronts, all states, you know?” – Mike Zlotnik “This is a time of unity too. We need to forgo all of our political differences, and stop political bickering and focus on the health of the nation and the health of the world.” – Mike Zlotnik Resources: Cory Boatright, website Cory Boatright, LinkedIn Cory Boatright, Twitter Cory Boatright, Instagram

056: State of Humanity and the Economy During the COVID-19 Pandemic

How to Chose a SMART Real Estate Investing Fund: (Private Money, REITS, Equity, Structure, Tax). Investing in Real Estate Private Equity: Smartest Guide to Real Estate Partnerships, Funds, Joint Ventures & Crowdfunding. Inspiration by Nick Jevic, Sean Cook, Jason Hartman, Robert Kiyosaki, Joe Fairless, Than Merrill, Bigger Pockets

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Big Mike Fund Podcast

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