In this episode, I am joined by Amanda Han. As a CPA, tax strategist, and real estate investor, Amanda Han combines her passion for real estate investing with her expertise in tax tactics. Her goal is to help investors with tactics designed to supercharge their wealth-building using entity structuring, self-directed investing, and income offset opportunities to keep more of what they make.   Amanda begins by giving us a little bit of her background. She talks about how both her parents and grandparents were real estate investors but encouraged her to follow the more traditional route of getting an education, followed by a good job. She began her accounting career at Deloitte, just by chance, in their real estate specialty group. She realized very quickly some of the tax benefits her investor clients could take advantage of, increasing their income while not necessarily working a ton of hours.   Amanda explained that the majority of real estate investors are not aware of the tax strategies available to them. She pointed out that it isn’t necessarily anyone’s fault but that the tax codes are written in a convoluted way. Reaping tax benefits requires very specialized knowledge for each and every industry.   I asked Amanda to explain a little about what is going on with the tax situation during the current COVID-19 pandemic. She said as part of the Cares Act pandemic relief package, the new filing deadline is July 15th. Most of the states are following these guidelines, and Amanda recommended getting more information from AICPA State Tax Filing Guidelines.   I wanted to find out Amanda’s recommendations for newer or smaller investors on when a good time is to begin working with a CPA and employing tax strategies. She said it was important for even brand new investors to consult advisors in order to form to proper legal entities necessary for both tax benefits and protection, and also how to use them effectively.   I asked Amanda to explain a strategy that I have recently become familiar with which is cost segregation. She said first that one of the things that is so attractive about real estate investing is the depreciation that can be claimed no matter how much is put down on the house or other factors. Cost segregation is just the next level of this type of tax advantage. It involves defining all of the components of a particular investment property, not just the building itself. Some of these components may be eligible for an immediate deduction, providing the possibility of taking a higher deduction upfront rather than having everything depreciate over the standard timeframe.   Amanda went on to explain strategies that could benefit some types of real estate investors but not others, giving specific examples. She also gave some great, practical advice on how to determine whether an individual’s tax advisor was helping employ these strategies.   I then asked Amanda about the charity that she and her husband and business partner, Matt, formed named Animals for Armed Forces Foundation. The foundation helps to place shelter animals with current or retired servicemen and women. Normally on Memorial Day and Veteran’s Day each year they will work with local shelters to place animals in military homes for free, while the foundation pays for any necessary fees. Amanda talked about how rewarding it is to receive pictures of these pets in their new homes with their forever families.     We then talked about the two books they have written on tax strategies for real estate investors (see links at the bottom). She said that she and Matt read a lot of books about taxes benefits for investors and found them difficult and dull to read and wondered how people who were not CPAs would get any useful information from them, so they wrote their own books to help people find strategies that could help them. The first book is story-based about specific successes and mistakes made by investors and provides actionable, easy-to-understand advice about various tax schemes.   If you are like me, you may not know much about taxes, but please join me for this interesting, motivating, and believe or not, fun interview with tax expert Amanda Han! Notable Quotes   “I think there is a misconception that investors think they only need to work with a CPA or an attorney when I have ‘X’ number of rentals.” Amanda Han   “It is more transaction-focused rather than a number of rentals in terms of who could benefit from tax planning.” Amanda Han   “In the tax world, there is never a one-size-fits-all strategy.” Amanda Han   “In the spirit of Michael Scott, now say it like I am a four-year-old.” Mike Simmons   “Flipping burgers - not nearly the upside of flipping houses.” Mike Simmons   “Our firm specializes in proactive tax planning.” Amanda Han   “We have people whose tax preparer is their father-in-law… you can’t fire your father-in-law.” Amanda Han   “We always recommend this team-of-advisors approach, where we are all working together.” Amanda Han   “I like talking to people that do good things, good people who aren’t just business, business, business, cutthroat - people who care.” Mike Simmons   “I don’t like not knowing, but I just don’t know, so thank you for telling me your book is basically for dummies.” Mike Simmons   “Our goal in writing the book was to show people what can be done.” Amanda Han Links: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months Keystone CPA Facebook Keystone CPA Website AICPA State Tax Filing Guidelines Animals for Armed Forces Foundation The Book on Tax Strategies for the Savvy Real Estate Investor The Book on Advanced Tax Strategies: Cracking the Code for Savvy Real Estate Investors 7FF Video Vault 

Just Start Real Estate with Mike Simmons

Real Estate Tax Strategy - A Proactive Approach to Higher ROI with Amanda Han

For this episode, I interviewed friend and fellow 7 Figure Flipper Dana Mace. She begins by talking about her background and how she began in real estate investing. Dana said that because her step-dad owned one of the largest, privately-owned real estate businesses in Virginia, investing this way was just part of their family culture. She bought her first property at the age of 21 years old and hasn’t looked back since.   Dana was born and raised in Virginia Beach and this metropolitan area is where her business is focused. She and her husband started their newest company, Ubiquitous Properties, with the goal of scaling their flipping business to 60 each year. Dana explained that they picked the name Ubiquitous because it means “omnipotent; all over, everywhere” and that is their objective. We discussed the markets in our prospective areas and what an average deal sold for.   We talked about different strategies for getting on wholesalers’ lists and what was really successful for Dana in her market. She also shared with us how she evaluates her deals. Dana also gave us an idea of the key people she wants to have as part of her team so that she can scale up to a particular level.   Dana shared some of the struggles she has been dealing with this year, but how determined she is to push through and make her business succeed. In order to raise some capital, they pulled off a 7-day flip, and Dana describes what that experience was like.   Next, I wanted Dana to talk about why she started her YouTube channel and what its purpose is. She said that she thinks that the best way to scale something and to learn is just to talk about it. She had initially intended to show a lot of before and after house-flipping situations but was encouraged to put on more varied real estate content, as well.   Join me for this super fun, upbeat and honest interview with fiery real estate investor Dana  Mace! Notable Quotes   “I knew that real estate was the thing to go into.” Dana Mace “If anybody wants a tip, tell them to buy real estate.” Dana Mace’s Stepdad   “I have been very fortunate to have people surrounding me my whole life that know a lot about real estate so that I have been able to learn and grow.” Dana Mace   “I knew I wanted to do something cool with my life and something cool with my money.” Dana Mace   “I just wanted to flip it. I am just flip-happy sometimes.” Dana Mace   “No one understands completely how well you are doing because you are just a ninja and crushing it, just doing your thing and not making a big deal about it.” Mike Simmons   “When life “lifes” on you, what are you gonna do?” Dana Mace   “Life makes its move, and sometimes it feels like ‘Check.’ It is only ‘Checkmate’ when you give up.” Mike Simmons   “Find the people that are good at things that you are not.” Dana Mace   “The number one thing that has made the biggest difference in my business is getting out of my own way, realizing what I wasn’t good at, quit lying to myself about it, and bring someone in that could handle that for me.” Mike Simmons   “What does scaling really look like to me? Being better tomorrow, a little bit better than what you were today.” Dana Mace Links: 7 Figure Flipping Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months Dana’s YouTube Channel 7FF Video Vault

Scaling a Flipping Business and Investing in Multi-Family Properties

In this episode, I had the pleasure of interviewing multi-family property investor Teghena (Tenny) Tolofari. Prior to establishing Xsite Capital Investment in 2019, Tenny spent several years leading a major sales force in one of the fastest-growing financial services companies in America. He is also a Global Cyber Security professional supporting the likes of Boeing and Deloitte. Tenny’s major role is building relationships with brokers, property management companies, and investors to ensure the success of their property investment business. Tenny began by sharing the story of his humble beginnings as a child in Nigeria. He was initially very insecure about his abilities and did not do well in school. Because of the class system in Africa, Tenny realized the only way he could break out of the poverty of his youth was to immigrate to the United States. He made a bet with his mother in which she told him she would find the means to send him to graduate school in America if he could finish college with high honors. That motivated Tenny to get to work and accomplish this goal. Upon arriving in the States, Tenny began his graduate degree in Management Information Systems at Virginia International University and then transferred to Bowie State University. After graduation, even though he had great jobs and was able to bring his family over to the U.S. from Nigeria, he continued to ask himself, “What’s next?” He then began to learn about finance and it opened up a whole new world to him. Like so many other budding entrepreneurs, Tenny started self-educating by reading Rich Dad Poor Dad and Rich Dad’s Cashflow Quadrant by Robert Kiyosaki. He found that the financial service platform gave him the opportunity to start his own business and work with others with more experience. During this process, he met his partner, Leslie Awasom. After discovering they were reading many of the same financial freedom books, they began their working relationship by meeting at a brewery to play the Cashflow 101 Board Game. Because Leslie already had a real estate investing company, they decided to merge their business efforts in January of 2019. Tenny talks about how both he and Leslie were very invested in educating themselves and went to many financial and real estate boot camp and mastermind events. They decided they were going to focus their real estate ventures in the multi-family market and bought their first property, a 192 unit apartment building in Marietta, Georgia. This year, they are looking to expand these efforts. I asked Tenny how he feels when he hears people born in this country talk about how they don’t have the same opportunities as others and can’t afford to improve their situation. Tenny said it used to make him mad because he believes those are just excuses for not improving yourself, but then realized you can only be who you surround yourself with. We discussed how important it is to appreciate and use what you have and encircle yourself with good people. Tenny talked about the sacrifices he had to make, yet how driven he was to succeed. Tenny then explained what syndication is because that is what he primarily deals with in his business. He explained the difference between the two business classifications that they have, 503B and 503C, as far as dealing with investors. He also detailed why they decided to go into multi-family real estate investing rather than other options. He gave several examples of the advantages of owning multi-family including spreading out expenses such as management companies and adjusting for vacancies. Tenny also detailed their philosophy for finding and funding deals. We talked a lot about different ways to build relationships and how important this is in real estate investing. Tenny said one of the strategies that they have when trying to enter a new market is to talk to the property management companies first in order to get an in with the big brokers in that area.  I hope you join me as I get to know this dynamic investor and fantastic human being who built a successful real estate business from nothing with self-education, hard work, and desire!   Notable Quotes:   “You can only be what you surround yourself with.” Tenny Tolofari   “Everyone has the opportunity - it’s just how badly do you want it and what are you going to to to get there.” Mike Simmons   “I know what I want. I didn’t want that life, like so many of my friends back home, that are struggling to take care of their family.” Tenny Tolofari   “A lot of people don’t appreciate what they have. They just don’t understand.” Tenny Tolofari   “Gratitude and perspective are things that can help people change.” Tenny Tolofari   “People change due to two things: desperation or inspiration. Mine was both.” Tenny Tolofari   “I’d never done commercial real estate before… I just had to put myself out there and learn.” Tenny Tolofari   “And this is one of my superpowers that I know God blessed me with - I can pick up the phone and call anybody.” Tenny Tolofari   “It’s got to be deeper than that… you’ve got to mean it.” Mike Simmons   “There’s a lot of things going on in the world right now, a lot of people are scared, but you don’t stop, don’t freeze, keep moving.” Tenny Tolofari Links: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months Rich Dad Poor Dad Rich Dad’s Cashflow Quadrant Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future MONEY Master the Game: 7 Simple Steps to Financial Freedom Robert Kiyosaki’s Cashflow 101 Board Game Tenny’s Website Tenny’s Phone Number: (202) 569-5072 7FF Video Vault 

From Humble Beginnings to Success in Multi-Family Investing

For this episode, I have invited four of my friends and fellow real estate investors to talk about their specific market experiences thus far during the COVID-19 pandemic. I asked each of them to introduce themselves and tell us a little bit about their business. Adam Rae lives in Colorado Springs and operates his business in southern Colorado. His business works in wholesaling, flipping, and rental properties. Andy McFarland lives in Utah and is also involved in wholesaling, flipping, and owns rentals in three different markets:  Salt Lake City Utah, Albuquerque, NM, and Indianapolis, Indiana. Jeremiah Johnson runs his business remotely from his home just outside of Denver and does primarily wholesaling in the markets of Wichita and Kansas City. Terry Burger does business in the markets of Atlanta Georgia and Greenville, South Carolina, performing primarily flips. We began by discussing our different states and markets and the limitations we are seeing with the varied stay-at-home orders and how that has immediately affected our businesses. With the US economy impacted so severely by the pandemic, we all shared our projections about the real estate market going forward. We also considered how the different facets of the business could be influenced by the response of buyers, sellers, and lenders. We talked about different ways we have all implemented some cost-saving measures internal to our businesses, as well. This episode is filled with “actionable intelligence” that will benefit investors of all kinds, in any state of business development.   Notable Quotes:   “History does not repeat itself, but it often rhymes.” Mark Twain   “Real estate is the local perception of a national opinion.”   “Our asset class is looking pretty sexy right now.”   “We’re not going back to living in tents anytime soon.”   “Real estate is a slow-moving animal and you aren’t going to miss the boat if you don’t buy something tomorrow.”   “I think your grandma’s economics still work here… live on less than you make, invest the difference, have cash reserves, have staying power.”   “I wrote down “actionable intelligence” - I absolutely love that and need to make it part of my vocabulary.”   “It is important to develop empathy and not ego through this.” Links: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months 7FF Video Vault 7 Figure Flipping Adam Rae's Website Andy McFarland's Website Jeremiah Johnson's Website Terry Burger's Website 

Real Estate vs. COVID-19: Round Table Discussion

In this episode, I interviewed Will Brown, who is a 20-year-old real estate investor and tech entrepreneur who dropped out of college in May of 2018. Since then, he has run and built a team from scratch without any outside funds to go on and do over 90 deals and $900,000 in assignment fees in less than 2 years. He has since handed the reins of the wholesaling business off to a partner and is 100% focused on building his AI tech startup in Los Angeles. He is massively into personal development and supports others in carving their own path and creating themselves into who they want to be. Will began by summarizing what brought him to real estate. He and his mom attended a mastermind event in the Fall of 2016, but they didn’t have the money to invest, so that left a little bit of a bad taste in his mouth. In January 2017 he was playing a video game that let you buy and cash flow real estate, and he thought that learning about it for real would be a lot more interesting than sitting on his couch! His first google search on the subject led him to a BiggerPockets podcast, and there was no stopping him from there. Will started investing by cold-calling off of a probate list and putting himself in the proximity of other real estate investors. He offered his services, in the case of his first deals, by installing security systems in order to learn from other investors. We discussed how you can’t start any kind of relationship by asking for what you need first. Will talked about the need to know your skill-set, and the willingness to work hard for someone else without concern about the outcome in order to learn and grow. Will gave a detailed description of his first solo deal, and he describes the challenges he faced. He talked about the importance of having a great lawyer and how he managed different aspects of the deal that were new to him. He feels like he learned so much from this first deal and the mistakes they made will never be repeated. Will described how they find their deals, and talks extensively about building a team. He hired an assistant in the Fall of 2018 and was able to scale his business exponentially because he was able to spend his time more effectively. It helped him so much to have someone to help him do the things he wasn’t particularly strong at. Will provided the list of technology he currently uses to find deals and the listeners can find these links further down in these show notes. He speaks in-depth about his sales funnel and what he has found to most effectively convert leads to deals. I asked Will to explain what he is involved in now and how he found a partner in order to run his real estate business. He talked about paying his partner really well in order to keep him and put him on a tiered commission schedule in order to entice him to stay. His partner is now running the real estate completely on his own with minimal interaction with Will. Will is now completely invested in launching an artificial intelligence company in Los Angeles, which he conceived in a Cabo San Lucas hot tub while at a business mastermind event. His concept is grown from the question of how to provide resourcefulness to humanity because if you solve one problem, another is created. In order to address this, Will is working on creating AI personal assistants for people to help people in problem-solving and life balance. You have to check out this super energized interview with up-and-coming entrepreneur, Will Brown. He gives a ton of great advice based on a solid foundation of respectable values, along with being an extremely entertaining interviewee.   Notable Quotes:   “Not to say, do this: step, step, step. But it gave me the inspiration of ‘Hey, this guy has done this before,’ and it kept adding proof that yes, this is possible.” Will Brown   “I had the drive of setting up the blueprint of my life and laying out the foundation now, not only in acquiring assets but also learning to be a leader, learning to delegate, learning to fail forward, how do you do this, how do you do this... ” Will Brown   “You’ve got to love the process. You know, all the crap you have to go through to get it. If you are focused on the results, you are not going to get it.” Will Brown   “So what Will did is he basically decided he wanted to be around people who were doing real estate. And you offered your services, you offered to be of value to them. You didn’t say, ‘Show me how to do it, help me start my business, me, me, me.’ Instead, it was like, ‘what can I do for you?’ and then oh, by the way, I get to be around you when you do this.” Mike Simmons   “Number one, you are going to be uber-successful. Not because of whatever result you create there, but because of that mindset. That you are willing to give and give and give and give without any expectation in return, but knowing that it comes back.” Will Brown   “You had a problem and you figured it out. It’s like chess. It’s like, ‘Check’ and then you move out of that position and you clear the board a little bit.” Mike Simmons   “People that try to do it themselves because they are in a scarcity mindset - you are not going to scale if you are just doing it yourself.” Will Brown   “Once that shift happens and you get it so viscerally, you can’t go back. Because if I just went back to real estate, I would always be wondering what could be.” Will Brown Links: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months Will on Instagram Will’s Website Investor Fuse CRM Spokeo Research Tool Call Rail Automated VM Lead Sherpa Auto Text 7FF Video Vault 

$900,000 in Revenue and 90 Deals by the Age of 20

In this episode, I had the pleasure of interviewing buy-and-hold real estate investor Henry Washington. I asked Henry to kick things off by sharing his background and what brought him to this type of investing. He said that getting married and the talk of starting a family really changed his mindset about his lifestyle and how he was going to support a family. Like so many others, his real estate journey began by reading Rich Dad Poor Dad by Robert Kiyosaki.   Living and working in NW Arkansas, Henry started by just telling everyone he knew that he was a real estate investor and came upon his first deal this way. He then started a marketing campaign by sending postcards and found three more deals. I was really curious about Henry’s first marketing strategy and he explained that he wanted to stay away from what everyone else was doing in order to find a niche market.    Without having any background in construction, Henry talked about how he first started estimating rehab costs. He created a square-footage-based spreadsheet with costs for each discipline he found straight from Google searches. He eventually met and partnered with a guy who had a very strong construction background who proceeded to evaluate properties for him. This partnership allowed Henry to scale his business at a much faster rate.   I wanted to focus on the subject of partnerships with Henry for a bit and I asked him to talk about the elements that were contributing to the success of his partnership. He stressed the importance of shared values and vision and also attributes such as integrity, honesty, and the desire to help people. He also emphasized the importance of open communication in minimizing conflict and successfully working together.   Henry has his values listed on his website and I especially wanted him to define what he means by “servant leadership.” He talked about the importance of focusing on helping people and then success will follow. He believes the more you lead by serving, the more contagious that behavior will be. He recognizes the deals he is getting is because people have a situation and it is vital to him to meet them where they are and make the situation beneficial to both parties.   We then shifted gears to talk about lessons learned by dealing with contractors. Henry talked about the importance of having a detailed scope of work upfront so that he did not waste time talking with contractors that were never going to take the job anyway because of the state of housing market. He also worked extensively with his partner on honing his cost spreadsheet so that he could basically dictate the price of any construction work. Henry talked about the importance of keeping his valued contractors happy so he could establish long-term relationships.   I know that many real estate investors struggle with finding deals, so this was the next topic I asked Henry about. He said his most lucrative deals are currently coming from his lead generation website that he runs a Google ad words campaign on.   As far as Henry’s advice for people just starting in this business, he said after someone has done their due-diligence of self-educating, he advises them to focus their resources on figuring out their market and what a good deal looks like before deciding on a lead-generating strategy. The next step is learning how to properly evaluate properties once they have leads. Henry is convinced that focusing on these three things in order to buy a good deal, is the key to success in this business. Using these principles, Henry continues to grow his business while still having a full-time job in the IT industry.    Henry is a great guy, with a ton of character and depth, so I hope you join us for this newest edition of Just Start Real Estate!   Notable Quotes   “I never saw real estate as something I couldn’t do - I just didn’t know what I didn’t know.” Henry Washington   “Being a landlord is easy. I couldn’t fix it if I wanted to… I gotta call a guy.” Henry Washington   “You heard what people were doing and decided to do something different.” Mike Simmons   “The scale you can get when you have more people helping you - there is a multiplier there.” Henry Washington   “You learn really quick in this business, it is not a real estate business, it is a people business.” Henry Washington   “I need to be a solution to your problem.” Henry Washington   “It is funny how it works out - the people that focus on helping folks end up having more financial success.” Mike Simmons Links: 7 Figure Flipping Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months Rich Dad Poor Dad BiggerPockets Pro Member Henry on Instagram Henry’s Website 7FF Video Vault 

40 Doors in Two Years While Working Full-Time

In this episode, I interview buy-and-hold real estate investor Erin Helle. Erin begins by giving us her background and what brought her to this type of investing. She began her career in the military, first attending West Point Academy and then serving on active duty. Because her husband was also in the service, they knew that both of them being on active duty would be short-lived as they planned to start a family. She resigned her commission after about eight years of active duty to participate in the Army Reserves but was released when the Army discovered she had a heart condition. Upon leaving active duty, she began to explore real estate as a way to earn an income and be present for her family.   Since she did not have her own team at that point, Erin decided that any property requiring rehab wouldn’t work for the first go-around. Erin’s first deal, in May of 2018, was purchasing a newly constructed house, still in the process of being built. What she got was a completely rent-ready property, where she went directly from closing to meet her new tenant with keys.   Here I talked about how I had never heard of anyone getting into this industry by paying full-asking price for a newly constructed house, found on the MLS, but that is what is so great about real estate! There are so many ways to do it and be successful.   For her second deal, Erin pursued a flip property, which she and her dad did much of the work themselves. She talks about having learned so many lessons having to do with building relationships with contractors, budgeting, planning, and especially the selling process. The ability to close on the finished property proved to be a little difficult because of the demographics of the area that it was in. Erin knew she had so much to learn, felt like she had exhausted avenues for learning, and thought just getting in there was the best way to move forward.   Having a construction team upfront was one of the biggest lessons she learned from this project. When trying to contract certain aspects of this project out, she found that contractors would either not show up to bid the job, or would be awarded the job and still not show up. Erin also found that some portions of the job were way more costly than she anticipated and had budgeted for. Learning the timing and order of how the individual construction tasks were performed was also very enriching for her.   I then asked Erin what her primary investment strategy is and how she thought the current COVID-19 situation might affect that. She said she doesn’t plan to do any flips soon, but that she is always looking and open for new opportunities. She doesn’t think her rental market is going to be adversely affected by the quarantine situation and doesn’t think she will have to use any type of government assistance that may be available to her. I also shared my thoughts about this unusual situation and I talked about a video I saw that compared the real estate market now to the housing crisis in 2008 and how it was affected after 9/11.   I also wanted to find out how Erin finds her deals, so that is what we discussed next. She talked about the importance of KPIs (key performance indicators) and doing them consistently to see results. We discussed how her business model is more relationship-based than through paid marketing.   Erin then talked about the challenges of running her business remotely and how important it is to have a good team in place in each investment location. We talked about the necessity of a checks-and-balances system to keep everyone on task and doing good work. I commented that I could have an hours-long podcast on how to find, hire, train, and maintain a good team!   In regard to this, Erin talked about the systems she has in place to run her business. She said it is very simple, driven mostly by spreadsheets and contracts. This helps her to keep both herself and her teams on task and the expectations are very clear from the beginning.   I asked Erin what she would do differently if she could wipe the slate clean and use all the lessons learned to start her real estate business again, and she said she would not do anything differently. She believes strongly that any set-back she has experienced has contributed to the person she is and the business she is running.   Join Erin and me for a great interview featuring super actionable advice on both buy-and-hold and find-and-flip real estate investing! Notable Quotes   “Sometimes the more you know, you can get in your own way.” Mike Simmons   “I learned what a release of lien meant in that [first flip property], so that was huge.” Mike Simmons   “It’s just resourcefulness, dealing with the situation and figuring out how to get through it.” Mike Simmons   “If you have the will to get there, you will figure out a way.” Mike Simmons   “Water finds a path.” Mike Simmons   “[Flipping] is not what I’m supposed to be doing. It is a way to make money, but it's not contributing to my end state.” Erin Helle   “I’m encouraging listeners to figure out what they want to do because that’s half the battle.” Erin Helle   On systems: “I don’t think you need to have a fancy system or pay for a platform, I think you can do it in a notebook if you wanted to.” Erin Helle   “I wouldn’t do anything differently. Everything that I have learned and every step I have taken backward has contributed to the person you see now and the business you see here.” Erin Helle   Links: 7 Figure Flipping Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months Erin on Facebook Erin on Instagram Erin's Company Website Erin's Email 7FF Video Vault 

Building a Legacy through Buy-and-Hold Real Estate Investing

In this episode, Coach Mike Venos joins me to talk about several life lessons he has learned through over 35 years of coaching kids of all ages. Mike has been the Head Swim Coach at Brother Rice High School for 22 years, Mercy High School for 4 years, and Beachwood Recreation summer club for 17 years. In the time that he has served as the head coach for these teams, they have captured a combined nine Class A / Division I State Championships and 24 Catholic League Championships. He has coached 14 individual and 15 relay-team State Champions, over 50 All-Americans, and two United States Olympic Trial qualifiers.    Mike has received many local, state, and national accolades during his very successful career, is a member of the Catholic League Hall of Fame and will be inducted into the Brother Rice Hall of Fame this spring. In addition to coaching, he teaches Theology at Brother Rice.   Due to everything currently going on in the world concerning the COVID-19 pandemic, my goal with this show is to glean some wisdom for people in dealing with challenges. I started the interviewing by asking Mike why he thinks some people rise to challenges and some shrink from the same opportunities. Through interacting with his students and athletes he said you find out how much you can push them, the kids that are willing to go the extra mile, who is hungry to succeed, and who is born with innate ability take on difficulties. He said certainly these attributes can be innate to a person’s personality, or sometimes can be drawn out of them.   We discussed how sports are such a great forum for allowing people to make mistakes and learn from them. We also discussed the role of parenting in producing people who are more resilient human beings and how different parenting is today then it was when we were kids.   We backed up a bit to explore Mike’s background. He told me his dad was in sales and his mom was a Religious Education teacher, and how he got into swimming because his dad told him he wasn’t going to sit on the couch waiting to play his primary sport, which was baseball. Even though joining the swim team was not his first choice, he learned to love the sport for several reasons. He said it is a sport that you absolutely get out of it what you put into it, and because it is individual in nature, there is no hiding behind a talented teammate. With his love for the sport, he began coaching, which very naturally led him into teaching. He talked about how his upbringing helped develop creativity, which helps him find different ways of interacting with and reaching his athletes and students.   I then wanted to explore some of Mike’s coaching philosophies. He had given me several famous quotes he lives by and we proceeded to walk through those. First, he said that it is very important to have a philosophy and not just a plan based on Bear Bryant’s quote, “Show class, have pride, and display character. If you do, then winning takes care of itself.” That led to a lengthy discussion about having your values as the foundation for everything you do and then formulating a plan from that core. A person’s ethics and morals don’t change based on circumstances, but if you make a plan before examining what you believe in, that could lead to dishonorable or damaging decision-making. We discussed how important a person’s character and integrity it is and how much easier it is dealing with people of virtue.   Coach John Wooden famously said, “Things work out best for those who make the best of how things work out.” We discussed the importance of not trying to control the uncontrollables. Mike said that sometimes finding out what you can and cannot control can be difficult, but it vital to keeping your stress level low, enjoying life and succeeding. We discussed how appropriate this message to our current world situation and the wide range of people’s reactions to social distancing and quarantine mandates.   Coach Venos then talked about trusting the process and his own personal motto of “It’s not about winning but being the best” which is born out of Pat Summit’s famous quote of, “Our emphasis is on execution, not winning.” Regardless of your business, it is important to stick with your philosophy and goals, be flexible when required, but trust in your abilities, in the work you have put in, and that things are going to work out. We need to take the perspective that life is a journey, keeping the big picture in front of you, even when faced with obstacles.    We talked about the New England Patriots system and how they built a dynasty on trusting the process, even while not having the most talented players and having to adapt to different strengths.   The quote of, “Get comfortable being uncomfortable” attributed to the Navy Seals led us into a conversation of the Seal officers we know and many of their admirable qualities, especially in times of challenge. The ability to rise to the current challenge and to look at obstacles as opportunities rather than some kind of punishment is essential at this time and as we approach an uncertain future. We pointed out how this time of forced isolation was actually a gift - a time to engage with our families, deepen relationships, and reevaluate our priorities.    Coach Venos’ convictions may be born out of a lifetime of teaching and coaching, but they are applicable to all industries, age-groups, and walks of life. Quotes: “I like to surround myself with and hire people who have athletics in their background. People who have been on a team, because they typically know what it means to work hard to get something and to sacrifice for the betterment of others.” Mike Simmons   “You don’t let the goal define who you are.” Mike Simmons   “How people appear on paper is not as important as what they are made of.” Mike Simmons   “You can make a good kid fast, but not necessarily a fast kid good.” Coach Venos   “Most of my philosophies are not original… you have to look at successful people and emulate them.” Coach Venos   “How many times do we ask for a reset button?” Coach Venos   “If we keep dwelling on the negative aspects, we are going to miss these opportunities that are right in front of us.” Coach Venos   “People are making decisions right now out of fear that are not in their best interest.” Mike Simmons   “Good athletes don’t rise to the occasion, they fall back to their level of training.” Coach Venos (a variation on Navy Seals quote)   “Every boo on the road is a cheer.”  Scotty Bowman   “You have to reframe challenges as opportunities.”  Coach Venos   “It is a time to re-form family bonds and reinforce all the relationship in our lives.” Mike Simmons   Links: Coach Mike Venos Jocko Willink 7 Figure Flipping Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months Coach Bear Bryant Coach John Wooden Coach Pat Summitt Coach Scotty Bowman Navy Seals 

Highly Successful Coaching & Leading Teams to Greatness

In this episode, I am joined by Chris Arnold. Chris is the Co-Founder of COSA Investments, one of the largest wholesale companies in the DFW Metroplex. COSA is operated and managed by a US virtual team which has allowed Chris to run his company while living in Tulum, Mexico. He is also the founder of Arnold Elite Realty which is a cutting-edge boutique brokerage consisting of a team of seasoned agents. Most recently Chris has launched his REI Radio coaching program. This program is designed to teach real estate investors the marketing stream that everyone knows about, but NO ONE is doing!   Chris contends that having a real estate business can afford people freedom of time, freedom of resources, and freedom of location. Even though he started traditionally by representing buyers, Chris soon branched out and has become very successful in one of the most cutthroat markets in the country.   As we are currently in a sellers’ market, the real estate business is very competitive, but people who are building their businesses now are in great shape and poised to really thrive. This is why I wanted to talk to Chris about his business processes and how he promotes and grows his business.   I asked Chris to explain to me his business flow from the point of when they first get a lead. He used the analogy of the bus. You have all the seats on the bus that need to be filled (referring to positions that need to be filled in your company), but as the boss you have your butt in each one. As a leader, Chris said quickly find that you need to “fire” yourself as quickly as possible from each seat by finding a more qualified person for that particular spot. This can be humbling, but is necessary for him to be able to operate his business at the visionary level.   Chris stressed that they have had to develop really good systems for every aspect of their company’s process, and he pointed out that EVERYTHING is a system, even a routine as simple as getting up in the morning. Some processes they have implanted which have proven to be very successful are answering calls live and not allowing them to go to voicemail, having their prospecting assistants pre-qualify leads, and upon discovering a hot lead, the call is transferred automatically to the acquisition manager. They do this using Grasshoper software and you can find the website link at the conclusion of these show notes. Chris said they do not contract any properties without first doing an inspection, so the acquisition manager will recommend which ones need to be scheduled. They employee their own inspector, so the whole process can be complete within 48 hours. Whenever possible, the acquisition manager will complete the deal over the phone, again to decrease time delays and increase scalability.   When I expressed surprise at their company’s ability to close deals over the phone, Chris said it all starts with belief. People in this business need to overcome the myth that you have to meet in person and begin to develop their skills for connecting with people over the phone. Of course, he says it is not black and white and that older people may need a handshake and smile, but even if 50% of their business is done over the phone, that markedly increases their scalability. They employ two full-time people responsible for closings and pushing deals through the title companies, and a director of dispositions who is solely responsible for re-selling properties. All of this allows them to boast of a contract to close period of 23-25 days, when most companies are more in the range of 50-75 days.   I then asked Chris how they are finding your leads and he talked about the four marketing pillars they concentrate on: online marketing, direct mail, co-wholesaling, and their most effective strategy, radio ads. Chris pointed out some interesting facts about radio ads including how there is virtually no competition in this medium, it is cutting-edge for finding property, it is a trusted vehicle for advertising, and fits well with their target audience of consumers 50+ years old. They have found that when you advertise on radio you have instant credibility and achieve something akin to celebrity status. After quite a lot of split-testing, Chris has found that they get far more leads with the ads he has recorded himself versus using someone well-known, with a recognizable voice.   I asked Chris to tell me about some of the lessons they have learned about radio advertising in the nine years they have been using it. He said the biggest thing is that people automatically assume they cannot afford it, but like with real estate, they do not pay retail for airtime. Chris says the key is to do research and find the pertinent reports on a station in order to negotiate effectively. Like anything else, being an intelligent buyer is incredibly important.   We then discussed other ways of finding deals, including co-wholesaling. We compared our experiences and stressed that it is about control. I talked how in my company we require the other person needs to stop marketing the property and cannot accept other offers after our company takes control of the contract. This is so important in maintaining good relationships with other people. Chris talked about how they are always proactively building relationships with other wholesalers in what he termed the “learn/earn model.” Other people will bring him deals and he will educate them along the way, because they stress the importance of caring about growth of others and how it adds a lot of value to their own business through networking.   Chris has found that the return of investment for radio ads is now similar to what it used to be for direct mail. There are a couple of advantages to utilizing radio rather than other methods, such as it is not list-dependent, is low-maintenance, and it hits a wider audience. I asked him how often he changes is radio ads and surprisingly he said they have basically run three ads in nine years. Again, split testing shows the repetition of a precise message becomes hypnotic and is very effective.   Chris spoke about how people who are new to radio can get intimated because of all variability, but like he stressed earlier in the show, it works to your advantage when you can hire someone experienced in this arena. His company has branched out into assisting others in exploring and getting started with this type of marketing. Chris said those who are interested in are welcome to visit his website at wholesalinginc.com/reiradio and book a consulting call. He finished up by stressing how important it is to figure out what works in this competitive market and to differentiate yourself, doing the little things that matter so much to achieve success.   Notable Quotes: “The driver [of working in this business] is always freedom and what we can do with that freedom.” - Chris Arnold   “Living the Caribbean life was something I always dreamed of being able to do.” - Chris Arnold   “You can have the business that you want, where you want, in this industry. - Mike Simmons   “The flip side of that pain [being in a competitive market] is you are going to see some of the greatest innovation come out of that market. This makes you really good at what you want to do.” - Chris Arnold   “I’d rather take a fast nickel than a slow dime [wholesaling vs. flipping].” - Chris Arnold   “I like the velocity of wholesaling.” - Mike Simmons   “What we sell and beat out others on is professionalism.” - Chris Arnold   “Just do the things you can control.” - Mike Simmons   “Radio: marketing source that everyone knows about and no one is using.” - Chris Arnold   “We buy our radio like we buy our real estate: at a discounted, wholesale prices.” - Chris Arnold   “Anyone who has experienced high-level success, they stood on the shoulders of someone else and learned from them, whether it is an athlete or an entrepreneur.” - Mike Simmons  Links and Resources: Rich Dad Poor Dad https://grasshopper.com https://www.wholesalinginc.com/reiradio/

Using Radio Ads to Fuel Your Real Estate Business

In this episode, I’m joined by Andy McFarland. Andy is not only a successful investor and mentor, but also a close personal friend. He and I have traveled together as members of the 7 Figure Flipping Mastermind, and his stellar character and willingness to encourage others to succeed have aided him in his journey to becoming a self-made expert in the world of real estate.   I first asked Andy to talk about how the world of investing has changed in the last 5 years, the strategies he’s implemented, and the lessons he’s learned. First, and most importantly, Andy emphasizes the necessity of authenticity within the business. This applies not only to your customers, but your employees, or as Andy calls them, his team. We discuss the (understandable) tendencies of newcomers who are looking for that hidden gem or technique that is sure to help them rise to the top, forgetting that being genuine is what really ensures success.    Andy talks about the dangers of cramming sales techniques down the throats of your customers and how that always ends in disaster.  Of course, profits matter. Sales matter. But people matter much, much more.   In this business, it’s not uncommon to have high turnover rates. Andy and I agreed that our teams look much different than they did in the beginning, and more often than not, for good reason. People tend to move on to new avenues and adventures, and what was right for them at a previous time may not be in the future. Andy’s business and team have both changed in big ways since their origin, and he’s grateful for the lives he’s been able to touch every step of the way.    Andy also advises leaders to never forget to stay current. He told the story of his struggle to push through a period of frustration with his team, who wasn’t implementing certain strategies he was advising. They were never unreceptive, but he noticed that they weren’t attempting the encouraged methods. In hopes of understanding their resistance, he went back into the field himself and discovered quickly that the game had changed. His employees had adapted to the new industry, and he had failed to keep up. When he began reconnecting with sellers, he began to feel the benefits of this human element for the first time in a long time.   We then dove deep into the blessings of what we do, and why we do it. As a man of faith, Andy believes that God has used his position in this business to meet true, human needs. He recalled a incident of a seller who was in deep, financial decline. Some investors, Andy says, may have been tempted to walk away from the deal, fearful that the investment wouldn’t be worth their while. Others may have even taken advantage of this man’s desperation. However, Andy chose to show grace and compassion. He listened to the man, and worked alongside him to make a plan that would help him to pick himself up. Though the money made from this investment wouldn’t be outrageous, humanity took precedence and Andy was able to bless this family in a way that only he could, simply because he took the time to listen. We ended the discussion on the issue of comparison. Many step into this business with a hope of having more time for what matters to them: time with loved ones, things you enjoy, etc. However, they fall into the never-ending circle of wanting more simply for the sake of having more. When people have a 1 million dollar company, they then want a 10 million dollar company, and then a 100 million dollar company, and so on. Making more money almost always leads to spending more money if you’re not wise, and won’t bring satisfaction like knowing that you live a life loving others well and impacting them positively.   Andy is the guy in our 7 Figure Flipping Mastermind group that we call “the rabbit” because people are always chasing after him for the big secret of success, or simply because his realness is so attractive. Give this episode a listen to hear his best-advised tactic, which really isn’t a tactic at all.    For more information on our 7 Figure Flipping Mastermind group, feel free to contact me and I’ll make sure to get you more information. Notable Quotes: “What have I learned over the years? The people matter. The people matter in all aspects of the business. Your business is your people.” -Andy McFarland   “What I want most is have an impact on people’s lives. Not a thousand people’s lives. I want to have an impact on one person’s life, one at a time. And if that happens a thousand times great. -Andy McFarland   “There are few people I know in the industry who truly do right by people intentionally and for no gain… or leverage. I think people need to hear that.” -Mike Simmons   “I’m not at all saying don’t try to make money and grow your business, because you should, because you can do more good that way. But I think building a company that provides income for those who work for you feels better than closing a deal.”  –Mike Simmons   “Find good people, treat them well.”  –Mike Simmons   “We all feel better when we serve people.”  –Andy McFarland   “The problem is, in the beginning, people are so freaked out about getting a deal that they go in there with that energy and they struggle.” -Michael Simmons   “Money amplifies what you already are. It won’t change your life. It will just make you more of what you already are.” -Andy McFarland   “The reasons why people are unhappy it all boils down to comparison.” -Michael Simmons   Links and Resources: https://7figureflipping.com/ https://fliphackinglive.com/ Elite Homebuyers Rich Dad Poor Dad The Total Money Makeover  

Being a good person and success in business

Do you need help investing in real estate? Do you understand how to grow, scale, and profitably build your company into the business that you want it to be? You’re in luck! I’ve been working for the past several years with some of the most successful real estate investors in the industry and from around the country. Names such as Andy McFarland and Bill Allen, along with myself, have built a program called “Seven Figure Flipping.” This exclusive mastermind and coaching program is designed to get you and your business to the next level. Interested in finding out more? Email me at Mike@juststartrealestate.com with the subject line “help,” and we’ll get on a call together to see if this program is a good fit for you and your business. In this episode, I interview Susan Lassiter-Lyons. Susan is an investor, entrepreneur, author, and investment coach to assist people in creating wealth. She’s the CEO of Lassiter Publishing Group, a financial publisher specializing in income and growth opportunities. If you’re looking to succeed, read Susan’s book Getting the Money. She reveals her step-by-step approach to getting money. This is not for people who can quickly get money from lenders, this is for the start-up entrepreneur who is interested in building their capital and wealth, but they don’t have the start-up money. Susan is very candid in her methods and leaves nothing to spare in her book. She explains, in detail, how to grow from a one-person team to a larger company and how to find and secure the money for your company to thrive. Susan first dives into money lending and how you should view money lenders. Don’t look at money lenders as an all-powerful entity. Look at them as personal investors - they are sharing with you their money because they can’t do the work you are doing. Check your mindset when you are asking for money - how are you viewing yourself concerning the person who is investing in you and your company? Next, she moves into identity and how many flippers don’t want others to know they are flipping. We call this the “secret identity.” Listen in on how my wife and I were caught flipping houses at Sunday dinner with my family. Listen in to find out how being passionate and excited about your company will create energy around you and make others want to invest in your company. Learn about how you can leverage yourself and your level of expertise into larger syndications. Find out about the concept of being “big time” on how to be able to “shoot higher” with your business to be able to scale and grow.

JSRE 356 Susan Lassiter-Lyons on Getting the Money

In this episode I discussed the 10 things every successful real estate investor knows. These are things that you should know as well. Please check this episode out because these are all things that I have learned over the last 10 years and have spent the last 4 or 5 years teaching other people to help them reach their goals!

JSRE 355 Top 10 things sucessful RE investors know (and you should too)

In this episode I interview someone who I respect quite a bit, Nate Johnson. Nate is an incredible businessman and the COO of Blackjack Real Estate, the company owned by my good friend Bill Allen. Nate runs the operation of that company and is a phenomenal operational mind and is responsible for helping Bill grow that company from $1,000,000 to $3,000,000 in just 3 short years. Nate has tons of experience and insight into what it takes to affectively and successfully grow a real estate investing company.This is not an interview that you can afford to miss!

JSRE 354 Going from 1 million to 3.5 million in profit with COO Nate Johnson

In this episode I talked to Jesse Trujillo. Jesse is a real estate investor in San Diego. I met him in October of this year at Flip Hacking Live which was held in San Diego. Jesse is a very smart investor and a great guy, but what is really interesting about his business is that he will do 80 deals this year (flips) Without spending a dime on marketing!! You have to listen to this interview, especially if you're struggling to find deals and worried that you don't have enough of a marketing budget to grow your company. Jesse blows all of those myths out of the water!

JSRE 353 Doing 80 deals without spending money on marketing

In this episode is all about building the business that you want. Not the business that other people have told you you should want. Every decision we make in our companies have in effect on us, our free time, and ultimately the business that we end up with. I want to make sure that everyone listening to this podcast is clear on what they want and what that means when it comes to building their business

JSRE 352 Build the business that you want

New shows 5 Days a week! Mondays are an interview with a successful real estate investor. I get to the bottom of their business to discover the secret to how they became successful. Tuesday through Friday is filled with small actionable advice and tips that you can use in your business to immediately help you further your success in real estate.

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Just Start Real Estate with Mike Simmons

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