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BTM 62: The Lifestyle Design Aspect of Passive Income with Ali Boone

Ali Boone is a lifestyle entrepreneur, business consultant and real estate investor, and has literally defined non-conformity when it comes to her career. Ali left her corporate 9-to-5 job as an Aerospace Engineer, despite the “dream job” status that came with it, to follow her passion for being her own boss and creating true lifestyle design. She did this through real estate investing.



Her own real estate portfolio started with pre-construction investments in Nicaragua and then she moved on to investing in turnkey rental properties in various markets throughout the U.S. She managed to invest in her first five properties in 18 months using primarily creative financing. After starting out as a real estate investor just for herself and her own financial benefit, she went on to create her company Hipster Investments which facilitated over $18M in real estate investment sales in its first five years of business.

 

She’s written roughly 190 articles for the BiggerPockets website, she’s been featured for her writing in Fox Business and The Motley Fool, and she offers hands-on support for new investors and those going through the investing process. She still owns her first turnkey rental properties and she is also a co-owner and the landlord of a local property to her in Venice Beach.


Her primary focuses revolve around passive income and passive investment options. In addition to running Hipster Investments and working as an active business consultant, she’s a pilot and teaches flying and she can often be found snowboarding, hiking, or volunteering in California prisons. Her ultimate goal is to one day challenge Tim Ferriss to a lifestyle design duel.

 

On today’s episode we talk with Ali about her journey on becoming an entrepreneur and real estate investor. Ali shares with us how she knew real estate was the right path for living the life of her dreams. Ali knew that she didn’t want to fix and flip homes and decided to focus on the passive income side of real estate. You’ll learn how reading the Rich Dad, Poor Dad book changed Ali’s mindset to start thinking like an entrepreneur instead of an employee.

 

We also talk about the many benefits of having a lifestyle design and how to achieve it using passive income from various investments. Ali shares with us her first deal in real estate (mistakes made, lessons learned, etc.) and gives some great advice for college graduates and other professionals on how to get started. We also talk about the importance of knowing the difference of working in your business vs. owning a business. Lastly, we discuss how Ali spends her days as a location independent entrepreneur and what it took for her to finally live the life of her dreams.  

 

Key Points From This Episode:

  • Ali’s journey from being in the corporate world to living life on her terms as a real estate investor and entrepreneur
  • The importance of having a great real estate network of people to help you along your journey
  • Why investing in real estate is key to having lifestyle design (living life on your own terms)
  • The REAL benefits of lifestyle design and how you can achieve it in your life
  • The #1 thing Ali would say to millions of people that would be a game changer
  • Breakdown of Ali’s first real estate investment and how she turned that experience into a profitable thriving business today
  • Advice for every college grad and corporate professional on how to achieve lifestyle design using real estate and becoming an entrepreneur
  • The story of how Ali met a guy on a rooftop and what she saw that change her entire life and mindset
  • Difference between working in your business vs. owning a business
  • Importance of understand the mindset of an employee vs. entrepreneur
  • Why self-awareness is key to success and how being patient led her to prosperity in real estate  

 

Links Mentioned in Today’s Episode

Ali’s Website: Hipster Investments

Ali’s Instagram: https://www.instagram.com/hipsterinvest/

Ali’s Favorite Books:

The Four Hour Work Week

Rich Dad, Poor Dad

E-Myth 

Ali’s Favorite Lifestyle Design App: Instagram

 

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BTM 61: Wall Street Employee Loses Job For Greater Destiny with Daniil Kleyman

Daniil Kleyman grew up in the cold, snowy city of Moscow, Russia.  At age 12, he immigrated with his family to Richmond, VA. After a brief and not-so-successful run on Wall Street, Daniil finally realized that he was utterly unemployable and ventured into real estate investing and software development.

 

He hasn’t looked back since. Daniil’s real estate investing business currently includes a portfolio of rental properties, ground up residential construction, multi-family development and mixed-use commercial development. He is also incredibly passionate and hands on with the software development, constantly working with the development team on new releases.

 

Daniil has been involved in hundreds of transactions and different strategies including Wholesaling, Rehabbing, New Build Construction, Apartment Investing, & Commercial properties. But his favorite investing strategy today is still cash-flowing properties whether it’s single family homes or commercial.

 

He talks about why cash flow is so important, and how to get financing so that you can become financially free. Daniil also produced a software for Wholesalers and Rehabbers in the industry called Rehab Valuator which will show you the true value of a property, and allow you to blast out the key information to your buyers list.

 

On today’s episode we talk with Daniil about his journey and how he didn’t want to have a job anymore. He didn’t want to be responsible to anyone else and have a set schedule. Daniil didn’t want to be trapped in an office or a cubicle. He didn’t want to ride the subway at 7 o’clock in the morning wearing a suit. You’ll learn why Daniil knew he looked good on paper but wasn’t fulfilled.

 

We talk about simplifying your life to have a clearer mindset and why staying organized and contracting out certain phases of your business are important. He talks about the story of getting his start; investing in rentals coming out of 2008 and 2009 real estate crash. Finally, we wrap up the episode with Daniil sharing his strategy behind new construction and buying land and how you can make smart real estate decisions right now.

 

Key Points From This Episode:

  • Daniil’s driving force behind investing heavily in one market vs. diversifying a bunch of different areas.
  • How he ended up in Richmond, VA after working in Wall Street as a young man in New York City
  • Being in a approval seeking environment (aka a job) left him discouraged and unfulfilled
  • How you can make every right decision to having a good income (work hard, well liked, etc.) and still end up having everything taken away from you
  • The importance of finding ways to diverse your income so if your job doesn’t work out you’re not helpless
  • Importance of diverse your skill set (challenge yourself to learn new ways to create the life you want) such as marketing and sales skills you can take with you anywhere
  • How he humbled himself to move back with his parents after leaving Wall Street making over $200K/yr
  • The story of how he found a $40K shell of a house and brought with his partners (spent 6 month rebuilding that house)
  • The breakdown of how a development works and an example of a duplex that he has brought (numbers on it, how long it takes and typical returns you’ll see in your market, etc.)
  • What Daniil is doing today in real estate and the breakdown from the time he finds the land to buy to the time a tenant moves into the rental property

 

Links Mentioned in Today’s Episode

Daniil’s Website: Rehab Valuator 

Daniil’s Favorite Books:

The Four Hour Work Week 

Rich Dad, Poor Dad

Daniil’s Favorite Lifestyle Design App: Uber 

 

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BTM 60: No Money, No Credit, No Problem with Chris Prefontaine

Chris is the Amazon Best Selling author of Real Estate on your terms – Create continuous cash flow now, without using your cash or credit.  He’s founder of Smart Real Estate Coach & Podcast. Chris has been in real estate for 25+ years. His experience includes the construction of over 100+ single family and duplex homes (mostly 1990’s and selectively to date), has owned a Realty Executives Franchise (Massachusetts 1994-2000) as broker / owner which maintained high per agent standards and eventually sold to Coldwell Banker in 2000. The 2000’s included coaching ½ million and higher realtors in order to scale & automate their business throughout US and Canada. He also participated (and still selectively to date) in doing condo conversions (multi family homes to condos) and “raise the roof” projects (converting single family ranches to colonials in growth neighborhoods).

Chris has been a big advocate of constant education and participates regularly in high end mastermind groups and consulting with private mentors. He runs his own buying and selling businesses with his family team which buys 2-5 properties monthly so they’re in the trenches every single week. They also help clients do the same thing around the Country. Chris and his family/team have done over 80 million in real estate transactions. They mentor, coach, consult and actually partner with students around the Country (by application only) to do exactly what they do.

 

On today’s episode you’ll hear the story of what started Chris on the path to start investing in real estate. Chris shares his insight on why he needed to make the switch from earning active income into passive income using real estate. You’ll also learn how Chris paid $900 deposit and brought a home for over $183K using owner financing. Chris talks about how you can use various methods to get started in real estate without money or credit and how to find motivated sellers for deals. We end the episode learning about what investors should look for when structuring deals from buyers and sellers.  

 

Key Points From This Episode:

  • The transition Chris made from working with building construction to owning a realty franchise to ultimately being a real estate coach and investor
  • What prompted Chris to start investing (his father used to build his own buildings and the family had commercial building and read some real estate books)
  • Difference between earning active vs. passive Income in real estate investing (How Chris knew it was time to make that switch from active to passive income)
  • How Chris created a college model in the 1990’s; owned around 12 buildings and built a great model for passive income and great cash out as well for his business deals
  • Chris’ worst entrepreneurial moment to date and lessons learned from that situation
  • His experience dealing with properties who were cut by ⅓ overnight during the real estate crash in 2007
  • What owner-financing deals are and the break down and examples of  how Chris used it in his deals
  • The story of Chris paying $900 deposit (using owner financing deal) and buying a home for $183.9K
  • How every deal chris does has 3 pay dates (cash up front, monthly spread, cash out) how he has created cash now, cash flow and strong cash out
  • Importance of including family in your business and why Chris uses his family to help support his business
  • Chris’ favorite success story and the results of his clients (e.g. one guy who spent almost $100K on coaching over the last 5 years and had not completed a single transaction → he wanted to join another program with Chris’ company → now has under agreement and profied over 1 million after working with Chris)

 

Links Mentioned in Today’s Episode

Chris’ Website: Smart Real Estate Coach 

Chris’ Favorite Books:

What do you say when you talk to yourself 

The Success Principles

Chris’ Favorite Lifestyle Design App: Discover Calm #1 App for Meditation & Sleep 

 

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BTM 59: Time Wealth Anyone? The VIP Formula with Mark Dolfini

Mark Dolfini is a husband, father, and a veteran of the United States Marines.  He owns several million dollars worth of real estate and has actively managed over $40 million in real estate in his 20 years of being in the real estate business. That is not what makes his story so compelling. Mark has Time-Wealth. He is now able to control his calendar to do the things he wants, when he wants, and with whom he wants to do them.

 

Marine veteran, Mark Dolfini received a Bachelor of Science in Accounting at Purdue University. He is the Managing Broker of June Palms Property Management, LLC and the CEO of Landlord Coach, LLC. Mark Dolfini is also the author of The Time-Wealthy Investor.

 

On today’s episode, we talk to Mark about his journey into entrepreneurship after leaving his corporate accounting career. He shares with us his story as a high school graduate to finally joining the U.S. Marine Corps and becoming an real estate investor. After he joined the military, Mark realized he needed to get his life on track and start making some serious plans to make a better future for himself and his family.

 

You’ll learn how to use the concept of “anticipated joy” to create the life of your dreams. You’ll also learn why every investor must become a student of business in order to succeed. Mark breaks down The “VIP” concept and how you can use it today to structure your business and achieve the goals you have for your life.

 

Key Points From This Episode:

  • Mark’s journey into entrepreneurship from being a first endeavor vegetable stand in his parent’s garden in upstate New York
  • Importance of setting up a infostructure that fits your vision for your dream life
  • The story of how Mark brought his first real estate property (while attending college)
  • Mark’s favorite failure to date that set up him and his business for later success
  • Why you need to understand the difference between self-employment and business ownership
  • How Mark rebuilt his real estate portfolio and business after losing millions of dollars due to a health
  • How you can create a system to help you run your business and not let the business run you
  • Why you should become a “student of business” and learn the systems and infrastructure of how successful companies are built and managed
  • Importance of investing in great property management software
  • The #1 investment Mark made to take his real estate business and network to the next level
  • The 2 most important questions every real estate investor must ask to avoid bottlenecking
  • Why you need to learn how to eliminate, delegate or automate low-end tasks to free up your time as a entrepreneur
  • What “VIP” is and how you can use it as a investor and entrepreneur to achieve your goals and dreams
  • V- Vision: Establishing a crystal clear picture of what exactly you want your life to be like. Write down everyday what that vision is and have an accountability partner to keep you accountable through the process.
  • I- Infostructure: How you will run your business. Think of this as train tracks for your business. This is the foundation for everything.
  • P- Process: The rules you will operate on top of the infostructure. If you find yourself involved in every aspect of the business, ask yourself these 2 questions: Is this the best use of my time? Can I delegate, eliminate or automate this task?

 

Links Mentioned in Today’s Episode

Mark’s Website: Landlord Coach 

Mark’s Favorite Book: Think & Grow Rich 

Mark’s Favorite Lifestyle Design Apps:

Property Boss Solutions: Customizable Property Management Software

Contactually is an intelligent CRM for real estate professionals.

 

Access The Best Strategies, Tips & Advice!

Every week, we send an email sharing my best advice, tips and strategies related to Real Estate Investing. Each of these weekly emails contain relevant and actionable information that can help you no matter where you are in your investing journey.

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BTM 58: Command An Abundance Of Wealth Using The Law Of Attraction with Reggie Brooks

Reggie Brooks has achieved what many people consider to be impossible. He went from making $36,000 per year at the local telephone company, to making over $40,000 per month in his real estate business. Starting out with very little money, Reggie began his investment career in 1986. After taking several real estate investment courses he began investing in rental properties in Los Angeles.

 

By educating himself about hidden opportunities in real estate and making well placed investments, he has become a multi-millionaire. Reggie is an international speaker/lecturer, an author, and an active real estate investor. Reggie has spoken on programs with such notables as Donald Trump, Magic Johnson, Suze Orman, Anthony Robbins, George Foreman, Rudy Giuliani, Dr. Albert Lowry, Alan Greenspan, David Bach and Russell Simmons, to name a few.

 

On today’s episode, we learned about Reggie’s story of growing up in South Central Los Angeles and how he always knew there was more opportunity for him. Reggie began to ask people that had achieved success questions about finance and how to make money and that’s what started his entrepreneurial journey. The successful people that Reggie spoke with all had one thing in common. Everyone owned real estate.

 

As a high school dropout, Reggie realized there wasn’t an education requirement to get started in real estate but rather a need to attract your wants and desires through a mix of problem solving and intuition. You’ll learn how to leverage the law of attraction to achieve financial freedom and success in your life. Reggie also shares his favorite books for real estate investors about how you can develop the right mindset to live life on your own terms. We also discuss the importance of working of others and the #1 thing you can do today to position yourself to succeed.

 

Key Points From This Episode:

  • What got Reggie started down the entrepreneurial and real estate investing journey
  • The #1 thing he studied to help attract more opportunities for himself and his family
  • What is the “The Law of Attraction” and how you can use it to achieve financial freedom
  • How reading the book “Psycho-Cybernetics” changed his life and mindset forever
  • The importance of working with others (coaches, mentors, friends, etc.) to help you overcome obstacles during your journey as an investor
  • The # 1 thing you can do today to position yourself to succeed
  • A day-in-life of Reggie Brooks today and how his routines and habits ensure him to have a prosperous life

 

Links Mentioned in Today’s Episode

Must Read Books:

Think and Grow Rich 

The Law of Attraction 

Reggie’s Website: Reggie Brooks

Reggie’s Favorite Book: Psycho-Cybernetics

Reggie’s Favorite Lifestyle Design App: Road Warrior is a multi-stop route planner that helps you optimize, schedule, and navigate your routes. 

 

Access The Best Strategies, Tips & Advice!

Every week, we send an email sharing my best advice, tips and strategies related to Real Estate Investing. Each of these weekly emails contain relevant and actionable information that can help you no matter where you are in your investing journey.

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