023: Failure is the Best Teacher

My guest today is Paul Moore, the co-founder of Wellings Capital. He is also the host of the How to Lose Money podcast. Paul explains how his conversations with founders inspired How to Lose Money and how failures are the best teachers. We discuss how Paul got into real estate and why he prefers multi-family and self-storage deals.

Paul is the author of a book on the subject of multi-family real estate called The Perfect Investment: Create Enduring Wealth from the Historic Shift to Multifamily Housing. He shares his opinions on that particular space and why it has been difficult to find deals.

Also, Paul is a passionate advocate for stopping human trafficking. He speaks about his work with the organization, Exodus Cry and how my listeners can get involved in the cause. Paul has a classic rags to riches story that will both inspire and educate you.

MINUTE MARKERS

00:00 — Introduction to the Big Mike Fund Podcast.

00:22 — Welcome Paul Moore to the podcast.

00:47 — How to Lose Money podcast.

01:05 — The conversations that inspired How to Lose Money.

02:17 — Your pain is your power.

02:54 — Paul’s background.

04:13 — How Paul got into real estate.

06:33 — Paul’s rags to riches story.

08:38 — How “giving your way of debt” helped Paul get out of debt in 13 months.

11:37 — Paul’s involvement with Exodus Cry.

16:24 — The reasons multi-family deals are hard right now.

17:33 — The opportunities in self-storage.

19:00 — How to find self-storage and multi-family deals.

21:01 — What is Welling Capital and who do they serve?

22:39 — Paul’s book recommendation.

23:43 — Why Paul does what he does.

24:38 — Paul’s recommended episodes of How to Lose Money.

27:17 — Paul’s contact information.

27:50 — Thanks to Paul Moore for joining the show.

28:13 — Outro to the Big Mike Fund Podcast.

Resources:

The Perfect Investment: Create Enduring Wealth from the Historic Shift to Multifamily Housing

How to Lose Money

Welling Capital

Big Mike Fund

The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges

Real Estate Investment Fund: How to Choose a SMART Real Estate Investing Fund: Top 10 Biggest Mistakes To Avoid Before Investing Into a Real Estate Fund (Private Money, REITS, Equity, Structure, Tax)

Exodus Cry

022: A Networking Community for Medical Professionals

Dr. Forrest Bryant joins me today to discuss his role as CEO of High Speed Alliance a networking community for medical professionals that offers consulting, life coaching, and investment advice for their clients.

Dr. Bryant gives me insight into what they offer to their clients and what makes High Speed Alliance different from other firms. He also gives his opinion of what he thinks the market will look like in the big picture. We discuss traditional and alternative funds and why alternative options are recession resistant investments. Dr. Bryant is a very observant investor and has wonderful insight into the current market.

He also hosts a podcast called the High Speed Podcast and can be contacted through the High Speed Alliance website.

MINUTE MARKERS

00:00 — Introduction to the Big Mike Fund Podcast.

00:22 — Welcome Dr. Forrest Bryant to the podcast.

01:43 — What is High Speed Alliance?

05:00 — How Dr. Bryant and his team onboard new clients.

06:45 — What makes High Speed Alliance different from other consultants?

09:40 — What family offices look for in an investment.

11:25 — Traditional vs. Alternative investments.

13:39 — The micro-economic picture.

14:41 — Dr. Bryant’s disclaimer.

17:09 — The historical pattern of Dr. Bryant’s observations.

20:45 — A recap of Dr. Bryant’s answer.

22:10 — The importance of having access to capital.

22:36 — Why Dr. Bryant is currently a value-add investor.

23:20 — My reaction to Dr. Bryant’s observations.

24:03 — What can investors do now?

27:43 — Is selling assets a good idea?

29:06 — What makes self-storage a recession resistant-investment.

31:30 — Other recession resistant investments to consider.

32:42 — My opinion on selling assets.

33:20 — Dr. Bryant’s contact information.

34:00 — Dr. Bryant’s final thoughts.

35:39 — Thank you, Dr. Forrest Bryant, for joining us.

36:05 — Outro to the Big Mike Fund Podcast.

RESOURCES

Dr. Bryant on LinkedIn

High Speed Alliance on Facebook

High Speed Podcast

High Speed Alliance

021: Action Plus Action Equals Massive Action

Mike Fitzgerald shares his story of wild success in real estate investing with me. Mike is my business partner in The Dream Fund project (there will be more on that some other time.) He tells me about the early years of his real estate career. We also talk about his successes and his missteps. Not every deal is a home run and Mike has a lemons to lemonade story that will encourage and inspire you.

Mike is also one of the main champions of re-gentrifying the downtown Hagerstown, MD area. He and his company were recognized by the city and Congress for their efforts. He explains how he took a run-down, vice-ridden property, and created a draw for the downtown community. It is impressive and proof that with a little commitment, big things are possible.

MINUTE MARKERS

00:00 — Introduction to the Big Mike Fund Podcast.

00:22 — Welcome Mike Fitzgerald to the show!

00:45 — Mike’s military service.

01:45 — How Mike got into real estate.

03:55 — His first deal.

05:16 — How Mike’s career has evolved.

06:50 — The lessons he took from the early 2000s recession.

07:42 — How Mike stumbled into farm life.

09:10 — How he turned the farm into an Airbnb and how it serves the local community.

10:38 — A funny story revolving around a deal, and how it was connected to all the other deals.

13:14 — Action + Action = Massive Action.

14:20 — Mike’s best deal ever.

15:00 — The importance of building relationships.

16:13 — How Mike got his best deal.

16:53 — Other projects and deals Mike is an investor.

17:12 — Mike’s background and main motivators.

19:26 — How Mike received his high recognition with the city.

26:07 — The lessons from Mike’s story.

27:27 — Mike’s new goals.

29:26 — The beginnings of The Dream Fund (briefly.)

31:00 — Where to find Mike on Instagram.

31:22 — More contact information for Mike.

32:05 — Mike’s final thoughts for the audience.

32:45 — Thanks to Mike for joining us.

32:59 — Outro to the Big Mike Fund Podcast.

RESOURCES

Mike Fitzgerald on Instagram

Mike’s website

Gideon Properties

020: Trends, Strategies, and Opportunities

Today’s episode is a solo one. I have put together a presentation to discuss the current real estate market trends, strategies, and opportunities for 2018. I will be posting my slideshow for this episode later on, so stay tuned for that.

I cover some basic terms and popular strategies that every investor should know. If this is your introduction to Tempo Fund Management, my name is Mike Zlotnick. I am the host of the Big Mike Fund Podcast and I am the fund manager at Tempo Fund Management. I will go into more detail about our business and our investment philosophy during my presentation.  So, if you are thinking about exploring the real estate market this year, this episode is a great primer.

MINUTE MARKERS:

00:00 — Introduction to the Big Mike Fund Podcast.

00:22 — Today’s topic: 2018 Investment Opportunities.

01:08 — A disclaimer for my listeners.

02:00 — Who is Tempo Fund Management?

02:34 — Our areas of expertise and what we do for our clients.

02:28 — The difference between investing and speculating.

04:18 — The 2 components of a total return.

06:01 — The 2 elements of a return on investment.

06:46 — The 2 types of appreciation.

07:22 — The 3rd element, depreciation.

08:03 — Types of investment strategies.

09:14 — What are Growth and Income investments?

09:34 — The current market outlook.

10:23 — Types of asset classes.

11:10 — Asset Classes: Cap rates.

12:26 — Asset Classes: Interest rates.

14:00 — Why Amazon is “eating everybody’s lunch.”

15:04 — The opportunities in the current housing market.

15:56 — “The trend is your friend.”

16:30 — Why the high-end housing market is slowing down.

17:35 — Current opportunity: Multi-family renewable mortgages.

18:21 — Why turn-key deals are disappearing.

19:07 — The rise of the momentum deal.

20:35 — The benefit of having 2 exit strategies.

20:59 — Why Value Add is a good investment avenue.

21:19 — The types of value-add investments.

24:02 — Why you should consider investing in self-storage.

26:58 — What are constraint plays?

28:21 — Current opportunity: Service centers.

30:34 — The pros of a constraint play.

32:52 — How to understand, manage, and mitigate risk.

33:29 — How to cope with interest rate increases.

35:18 — What to do when the asset price drops.

36:29 — The recession-resistant sectors.

37:08 — The best advice I have received.

38:30 — Individual deals vs. Funds

39:24 — Individual deals vs. Funds: Liquidity.

40:44 — Individual deals vs. Funds: Personal Guarantees.

41:32 — Individual deals vs. Funds: Liability risks.

43:30 — Individual deals vs. Funds: Capital needs.

44:40 — Tempo Fund Managements current financial outlook.

46:55 — How to reach me.

47:26 — My book: How to Choose a Smart Real Estate Investment Fund.

48:15 — Thank you for joining me for today’s podcast.

48:30 — Outro to the Big Mike Fund Podcast.

RESOURCES

How to Choose a Smart Real Estate Investment Fund

Big Mike Fund Podcast

Tempo Fund Management

My email

019: Investment Strategies and Market Trends in Australia

I welcome Salena Kulkarni to today’s podcast. Salena is a former accountant who pivoted into real estate. She is a certified property advisor who founded the Phoenix Wealth Group. Salena discusses her experience with the Australian real estate market and compares it to the U.S. market.

We also discuss investment strategies and the current market trends Australian investors are following right now. Australia is a conservative market, so Salena’s insight falls into the “get rich slow” mentality.

It is always interesting to hear about global markets and Salena has some great advice to offer.

MINUTE MARKERS

00:00 — Introduction to the Big Mike Fund Podcast.

00:22 — Welcome Salena Kulkarni!

01:27 — The differences between the Australian and the U.S. markets.

03:27 — How Salena got into real estate.

05:18 — There is an investment strategy for every season.

08:35 — Why Australia considers America a high-risk market.

13:34 — The current investment trends Australians should consider.

18:06 — How do you harness your asset base into cash flow?

21:09 — The lack of commercial real estate opportunities in Australia.

23:48 — Salena’s book recommendation.

24:54 — Salena’s contact information.

25:43 — Thank you, Salena Kulkarni, for joining us!

25:51 — Outro to the Big Mike Fund Podcast.

RESOURCES

Big Mike Fund

Salena’s Facebook

Phoenix Wealth Group

Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Tim Ferriss

018: Lease Options and Land Deals

Joe McCall is a member of the Collective Genius Mastermind and is a business and real estate coach. He is extremely skilled in wholesale lease deals. Today we discuss how Joe got into lease optioning and what it is and for whom it works best.

Joe also discusses the pros and cons of doing land deals. He explains why he likes them and how they can be very lucrative. We also talk about his coaching services and what he looks for in a student. If you are seriously considering getting into real estate, Joe is an excellent teacher and offers a lot of great information!

MINUTE MARKERS

00:00 — Introduction to the Big Mike Fund Podcast.

00:23 — Welcome Joe McCall to the show!

01:12 — Who is Joe McCall? Why real estate?

03:28 — Joe’s 3 keys to success.

03:52 — Joe’s focus on flipping properties.

05:18 — What are flipping lease options?

07:13 — What are wholesale lease options? Why does Joe like them?

07:50 — How Joe got into lease option real estate.

08:20 — Why Joe left his career as a civil engineer.

10:43 — Why landlords are great business leads for lease options.

11:40 — The types of neighborhoods lease options work best.

13:51 — How Joe got into land sales.

16:00 — The appeal of land flipping.

17:01 — The land buying process.

19:30 — The pros of land sales.

19:40 — The cons of land sales.

20:55 — The biggest land deal Joe has done.

21:48 — Why Joe likes land deals.

22:30 — Joe’s coaching services.

29:50 — Joe’s book recommendation.

32:57 — The tools Joe uses to help with productivity.

35:18 — Joe’s contact information.

36:35 — Thank you to Joe for coming.

36:40 — Outro to the Big Mike Fund Podcast.

RESOURCES

Big Mike Fund Podcast

Real Estate Investing Mastery

Real Estate Investing Mastery website

Joe McCall’s website

The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field by Mike Michalowicz

Podio

Slack

017: What the Tax Cuts and Job Act Means for Real Estate Investors

Kingsley Charles joins me today to talk about the tax changes of 2017 and what that means for real estate professionals. There have been some major changes to the code and Kingsley tells us what we can expect for this upcoming tax season.

Kingsley is a member of the Collective Genius Mastermind group and is a partner and business consultant and planner for the Ascentia Group. I have worked with him for years and he is really well versed in the tax code and really understands the impact changes to the code do to small businesses. We discuss deductions, the stock market outlook, and Kingsley’s general advice to all investors, not just real estate investors.

MINUTE MARKERS

00:00 — Introduction to the Big Mike Fund Podcast.

00:23 — Welcome Kingsley Charles to the podcast.

01:07 — What the tax cuts mean for real estate professionals.

02:50 — The industries that aren’t benefited by the tax cuts.

03:50 — What has been removed from the tax code.

05:15 — What has been added to the code.

06:18 — Nothing is permanent in the tax code.

08:28 — What is currently deductible in this new tax code.

12:10 — The trade-offs when the tax code is changed.

14:55 — Kingsley’s strategy for tax planning.

18:05 — The current economic state of the stock market.

19:03 — How to reduce market risk.

19:50 — The pitfalls of the stock market and what to be mindful of.

20:45 — Why you need to self-direct your investments whenever possible.

21:35 — Kingsley’s advice to real estate investors.

22:00 — Why the “shotgun” approach isn’t a good idea.

24:20 — Kingsley’s book recommendation.

25:35 — Kingsley’s contact information.

26:24 — Thank you to Kingsley for joining the podcast.

26:34 — Outro to the Big Mike Fund Podcast.

RESOURCES

The Wealthy CEO

#KnowtheCode

016: Wholesaling and Seller Financing

My guest today is Larry Goins, master blaster of wholesaling real estate and seller-financing. I met Larry at the Collective Genius Mastermind, we have known each other for many years. Larry has 30+ years experience in a wide variety of real estate. Today we focus on his Filthy Riches program and his HUD strategy.  Larry offers some great advice for my listeners today and delivers a wonderful episode.

MINUTES MARKERS

00:00 — Introduction to the Big Mike Fund Podcast.

00:23 — Welcome Larry Goins to the podcast.

01:50 — Larry’s life on the lake and his passion for real estate.

03:46 — Larry’s most successful deal to date.

04:30 — Larry’s books and general real estate experience.

05:04 — Why Larry focuses on wholesaling and seller-financing.

05:30 — Why real estate investors need to be marketers as well.

06:25 — The basics of seller financing and the Filthy Riches program.

07:00 — How Larry creates a Filthy Riches property.

08:50 — When Larry decides to do a contract for deed arrangement.

12:00 — How contract for deed varies state to state.

12:44 — Larry’s HUD experience and his strategy.

14:05 — Where to find Larry’s book HUD Homes Half Off.

15:00 — Larry’s favorite books.

17:25 — Why Traction is a great real estate tool.

18:00 — Larry’s favorite production tool.

19:10 — Larry’s opinion of the current market.

21:06 — A deeper look at value investing and cash flow investing.

21:45 — Larry’s contact information.

22:46 — Larry’s parting words to the audience.

23:07 — Thank you to Larry for joining us.

23:15 — Outro to the Big Mike Fund Podcast.

RESOURCES

Filthy Riches

HUD Homes Half Off by Larry Goins

Lessons from the Richest Man Who Ever Lived by Steven K. Scott

The 4 Disciplines of Executions

Traction — Gino Wickman

015: Concepts and Strategies

Today’s episode of the Big Mike Fund Podcast is an overview of the concepts and strategies we have discussed thus far in the series. I don’t have a guest today, but I do have a lot of useful information about investing and real estate in general. I will go over some common terminology and give some insight on what it actually means in regards to an investment. So. we’ll talk about things like Return on Investment, speculating, appreciation, depreciation, and real estate funds.

Join me today for this primer on real estate investing and take notes so you know what you’re getting into with your next investment.

MINUTE MARKERS

00:00 — Introduction to the Big Mike Fund Podcast.

00:23 — Welcome to today’s summary of concepts episode.

01:05 — Investing vs. speculation and gambling.

03:36 — Why speculation doesn’t work and other progressive systems.

05:33 — The difference between Return on Investment and Return on Time.

08:33 — Why good investments have both cash flow and appreciation.

09:46 — The two components of appreciation.

10:54 — What is value add?

11:58 — The type of appreciation my team and I look for in our investments.

12:10 — Real estate as an asset class.

13:28 — The six points that make real estate a unique opportunity.

17:00 — How to find the best real estate opportunities.

20:04 — The difference between small real estate funds and big institutional REITs.

24:17 — What to consider when choosing a smart real estate investment fund.

34:50 — Diversification is the mother of all risk strategies.

35:10 — My parting thoughts for today.

35:17 — Outro to the Big Mike Fund Podcast.

RESOURCES

Big Mike Fund

Real Estate Investment Fund: How to Choose a SMART Real Estate Investing Fund: Top 10 Biggest Mistakes To Avoid Before Investing Into a Real Estate Fund (Private Money, REITs, Equity, Structure, Tax) by Mike Zlotnik

014: Successful Multifamily Investing

My guest today is Corey “The Big Kahuna” Peterson, the founder of Kahuna Wealth Builders. Corey is a real estate investor, educator, and a member of the Collective Genius Mastermind. He specializes in multifamily units.

Corey has humble beginnings, he didn’t start his career in real estate until his 30s. He began wholesaling properties and pivoted into apartment complexes. Corey shares his business philosophy and tells me what he looks for in a deal. Corey’s experience is a great example of how to take good care of your investors and how well they will take care of you in return.

MINUTE MARKERS

00:00 — Introduction to the Big Mike Fund Podcast.

00:23 — Welcome Corey Peterson to the podcast!

01:36 — How Corey got involved in real estate.

04:00 — How a racquetball game changed Corey’s life.

06:10 — The turning point that lead to Corey investing in apartment complexes.

07:33 — The unique approach that got Corey his first deal.

09:18 — The mistakes Corey made in his first deal.

11:00 — Why you should always take care of your investors.

11:50 — Look at the deal from an investor’s viewpoint.

12:36 — Corey’s second deal.

14:20 — The 1031 exchange deal that paid off.

15:10 — What Corey considers in a deal.

16:12 — The “sweet spot” Corey looks for in current deals.

17:44 — The benefits of requiring ACH drafts from your tenants.

19:50 — The type of deals that appeal to Corey.

20:15 — The upside to working with a management company.

22:33 — Corey’s goals for his investments and the typical exit strategy.

26:09 — Encouraging managers to get 100% occupancy.

28:15 — Corey’s book recommendation.

29:00 — Corey’s contact information.

29:24 — Thank you to Corey Peterson for joining us today.

29:26 — Outro to the Big Mike Fund Podcast.

RESOURCES

Kahuna Wealth Builders

Why the Rich Get Richer: The Secrets to Cash Flowing Apartments by Corey Peterson

The Richest Man in Babylon by George S. Clason

The Multifamily Legacy Podcast