BTM189: Profit First for Real Estate Investors with David Richter

On todays episode, we interview the brand new author of Profit First for Real Estate Investing, David Richter.

David is a long time property investor that has been apart of over 850 deals in his lifetime and through his experiences has learned how best real estate investors can manage their finances as well as their mindset on money. We take abstracts financial concepts and implement tactical strategies on this episode to be great stewards of our own finances on todays show.

Key Points From This Episode:

  • Infinite banking for real estate investors
  • Understanding the importance of “passthrough” bank accounts
  • 3 month reserve for potential deals?
  • David’s opportunity to author a new version of Mike Michalowicz’s “Profit First” but for real estate investors

Links Mentioned in Today’s Episode:

David’s Website

Recommended Books:

Rich Dad, Poor Dad by Robert Kiyosaki

Boundaries by Henry Cloud and John Townsend

Listen to these books for free!

Lifestyle Design App:

Google Calendar

Other ‘Profit 1st’ Episodes:

BTM146: Profit 1st, The 20-Hour Work Week & A 4-Hour Body

BTM 41: Is Your Primary Home An Asset Or Liability?

BTM188: 2022 CRE Tactics – Apartments, Self Storage & Data Centers with Terry Hale

Today’s guest, Terry Hale, is a commercial real estate rockstar with 20+ years experience in the industry. As an investor, Terry experienced the ups and downs of varying niches in the commercial space. Starting as an apartment investor, Terry abruptly realized that the self storage space was where he wanted to settle. It quickly proved to be one of the few asset classes that could produce in the worst of economy’s.

Today we discuss Terry’s transition to self storage, why he’s such a strong advocate for it and where he see’s commercial real estate going in the next few years. By the end of the episode, you will be crystal clear on the most important things you newbie investors to know and do when getting into apartments, self storage and data centers.

Key Points From This Episode:

  • How to calculate Cap Rate
  • Why Self Storage vs. Traditional Apartments in 2021?
  • Why Data Centers can be a sneaky lucrative asset class
  • How Attorney’s kill deals
  • Why talking to Brokers is the most powerful thing a newbie can do
  • Networking or Underwriting, what’s more important?
  • Terry’s 3 Prong approach for analyzing deals

Links Mentioned in Today’s Episode:

Terry’s Website

Recommended Book:

Think and Grow Rich Napoleon Hill

Listen to this book for free!

Lifestyle Design App:

Loopnet

BTM181: Real Estate & Clubhouse, What’s Possible? with Travis Rice

App Store -> Search -> “Clubhouse”

Imagine going to a free conference side by side with some of the best and brightest in their area of expertise. In our case, we’ll use real estate investing.

At this conference, you’ll be able to have meaningful direct conversations with the biggest real estate magnates as if you paid for their $100,000 per year coaching.

You’ll be able to discuss anything in your life and business – what’s working, what’s not working and get direct feedback on how to move forward.

You’ll be able to be a fly on the wall while these same mentors help others build 6 and 7 figure businesses.

You’ll be able to network and start your own groups and hold yourself and others accountable.

Again, all for free.

Wouldn’t this be a heck of a conference?

Well, that’s Clubhouse… a casual, drop-in audio conversation app

Where you can tune in to live, real time conversations all around the world.

Here’s why I think this app is important for real estate investors:

  • Get Inspired – From daily affirmation rooms to weekly ‘how to find a deal’ rooms, there’s no shortage of inspiration and coaching from this platform.
  • Build Your Team – Spend 30 minutes in a room and you could come out of there with a new realtor, contractor, attorney and title company.
  • Find Deals – I’ve been in rooms where deals are happening live. Tune in to the next episode of the BTM podcast to hear from an investor who found his last deal through clubhouse.

Now this app is really new (they haven’t IPO’d yet) and hundreds of thousands of people are downloading it every single day so I’m sure that you may have already use it – if that’s the case, lets connect – @darayolaleye

While you’re at it, connect with today’s guest, Travis Rice (@travisrice) a digital strategist who used clubhouse as a foothold to kickstart his real estate business, raising $14,000 in 36 minutes live from the app. Having grown his group ‘Real Estate Money Club’ to 25K+ members in a few short months, he’s made headway as the lead digital strategist for a shipping container development company that specializes in renewable, sustainable and affordable housing.

Links Mentioned in Today’s Episode:

Travis’ Website

Recommended Book:

Rich Dad, Poor Dad by Robert Kiyosaki

Listen to this book for free!

Lifestyle Design App:

Google Calendar

BTM178: Become the Bank – Investing in Seller Financed Notes with Eddie Speed

Today’s guest Eddie Speed, has over 40 years experience buying distressed notes. Eddie is known as the person the guru’s, guru’s go to for note investing and passive income. To date, Eddie and his team have bought over 50,000 seller financed notes to the tune of 3.5 billion dollars.

On today’s show we talk about why Eddie decided to specialize in flipping and holding distressed notes. Eddie figured out a long time ago that he needed a transactional side of the business (flipping) as well as a wealth building side (holding) and combined both strategies to become one of the nations most premiere note buyers and educators.

Key Points From This Episode:

  • Why seller financed notes are the next hot topic
  • How to OWN your own bank
  • How to capitalize in a market of tired landlords
  • Why courthouse records are so important for deals
  • Why wealth is more important than transactional revenue

 

Links Mentioned in Today’s Episode:

Eddie’s Website

Recommended Book:

Never Split the Difference Chris Voss

Listen to this books for free!

Lifestyle Design App:

Office 365

BTM176: 16,000 Land Deals Using No Debt with Steven Butala and Jill Dewit

Imagine building a 24 million dollar business without any leverage or debt. Sounds insane right? Well not to our guest on today’s episode. To date, Steven Butala and Jill Dewit have done over 16,000 land deals since 1999 and don’t plan on letting up soon.

On today’s episode, it’s only right that we do a deep dive into their business as well as the tools and systems that allowed their business to scale to the multimillion dollar mark. We discover the land secrets that most investor don’t want you to know. If you’ve ever been interested in land flipping then this episode is for you.

App discussed on today’s episode: Offers to Owners, Real Quest Pro, Data Tree, Neighbor Scoop, and Pat Live.

Links Mentioned in Today’s Episode:

Steven and Jill’s Website

Recommended Book:

Showing Up for Life by Bill Gates Sr.

Listen to this books for free with Audible!

Lifestyle Design App:

Microsoft Outlook

To enroll in Steven and Jills ‘Cash Flow from Land Program’ at a $500 discount use code MILLIONS at checkout here –>

Cash Flow from Land Program