Real Estate Investing Profit Masters by Cory Boatright

Brian Ellwood used to shake the hands of strangers and ask them what they did for living.  He felt trapped in a  job where he had no control of his own time.  His strategy paid off and propelled him into property flipping and rental property investment.  On this episode Brian shares his story and provides really valuable insight along the way.

Brian begins by discussing how he got started in the business.  A stranger gave him the opportunity to get a lead for him.  The guy closed on the deal and gave Brian a one thousand dollar check.  At that moment it clicked for Brian and he realized there was a way to get paid for the value you add,  instead of your time.

As far as an example of a mistake, Brian said for him it was not hiring someone soon enough to do what he does.  He hired an acquisitions manager to deal with sellers and within months his business tripled.     

For a Profit Master investing strategy, Brian talks about the book, Profit First by Mike Michalowicz.  The traditional way to look at things is by sales minus expenses equals profit, but the book flips the script by using a different formula of sales minus profit equals expenses.  Brian has put this theory into action and he explains how it helps him watch his profitability stack up while forcing him to be more frugal.  

Brian offers his keys to running a successful real estate business.  He believes in running it by the numbers and explains it in several points including:

  • Define the key numbers that a business needs to be successful
  • Assign numbers to the employees who handle those areas
  • Hold a weekly scorecard meeting where everybody is accountable for their part
  • If somebody is not performing where they should be in the numbers, determine why

Brian offers the advice of:  shift your focus from looking for a job to creating a job and then, in theory,  you’ll have more money and with that learn to invest well in one niche.  Entrepreneurship and investing is the ultimate combination for him.  Brian says he most enjoys helping other people achieve their goals and remove their roadblocks.  As far as why Brian does what he does, he says he feels driven to improve himself every day and he loves to learn and create.  

Brian has a blog and podcast available on his website, ignitelifestyledesign.com.  He hopes you’ll stop by his website and reach out to him.

Please visit out our website, http://realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download.  

Join us on the Real Estate Investing Profits Facebook site too!   




Direct download: Episode_8__Brian_Ellwood_Ingite_Lifestyle_Design_in_Colorado.mp3
Category:investing -- posted at: 6:00am EST

Episode 7:  Mike Cuevas Real Estate Marketing Dude with Systems in Chicago

 

This week Cory had the opportunity to sit down with Mike Cuevas, known as ‘the Real Estate Marketing Dude’. Mike knows how to get the systems in place and get the phone to ring.

 

INSERT LINK TO YOUTUBE VIDEO

 

Mike has been in the real estate business for 12 or 13 years, starting out as an agent learning the ins and outs. From there, he entered the short sale game and ran one of the largest short sale groups in the country. He created a short sale model , assembled a team and at one point was handling 25-35 closings a month for two years straight. “The only way you’re going to run something like that is by setting up systems and having the right team in place”.

 

Building Processes and Assembling Teams

 

QUOTE: “You don’t use difference recipes every time you make a meal. Same concept applies - use the same recipe, the same process, the same systems – just repeat and scale.”

 

Marketing and sales go hand in hand. You can’t be successful without both but you don’t have to do it all alone. Focus on your own strengths and assemble the right team. Creating processes and systems are the key to getting the job done.  Understand what you’re good at and outsource the rest.

 

Quote: “You are the average of the five people you surround yourself with.”

 

One of the biggest missed opportunities I see as an investor is using their real estate agent for their marketing. You have to do a lot of marketing to find the deal that works. The investors who are licensed can team up with the marketing for their real estate agents. 

 

QUOTE: “There is no better lesson than experience. Get out from behind your desk.”

 

Mike’s advice? 

 

One of the greatest lessons Mike’s learned is that there is no better lesson than experience, but you have to start somewhere. Build the business. Be you and do what you want to do, but you have to put in the work.  Learn from your mistakes.

 

Let someone walk you through the ropes. Get a mentor, someone who’s been around the block a few times.  Go out there shake hands and talk to people. Ask questions.

 

You have to have a ‘why’ to be successful. Mike works for his family and is grateful for them and the opportunity to have his own thoughts and work for himself doing something he loves. These are the things that lead to success. 

 

Recommended reading this episode

 

Now Discover Your Strengths”, Marcus Buckingham

 

Entreleadership”, Dave Ramsey

 

Start With Why”, Simon Sinek

 

Recommended Apps

 

Mike does the majority of his business on the web. You can find him teaching real estate on his website http://www.Realestatemarketingdude.com or connect with him on social media.  Find all of his handles at his website.

 

Don’t forget to visit realestateinvestingprofits.com for more Real Estate Investing Profits.  Don’t forget! If you haven’t downloaded your free real estate investing quick start guide. Go ahead and text on your phone the word ‘profit’ to the number 38470 and you will receive a link to download.

 

 


Our guest today is Alex Pardo, a business partner and friend of Cory. Alex works out of Miami, Florida and use to work as a GE Financial Analyst. Now he focuses on real estate systems and how they help him flip houses in his area.

 

Alex began his career in 2005 with a short sale job. He has been involved in numerous deals, but he says his expertise is wholesaling. The last 3 years his focus has been creating a team so he can step away from the everyday process. Alex believes wholesaling should always be at the center of Real Estate.

 

At the age of 21 Alex took a job with General Electric and found he wanted to be his own boss. He found Kawasaki’s series about real estate and started working in the business. Alex suggests getting a coach as soon as possible. He personally waited 3 years to find a mentor or a coach and he knows he made a lot mistakes and lost a lot of money in those 3 years.

 

Alex says his biggest mistake happened in 2006. Alex and his partner bought a half million dollar property and decided to flip it. They took out a loan and lost 90 thousand dollars in the deal. After the disappointing deal Alex learned two big lessons.

 

  1. Know your market.
  2. Stick to what you are good at.

 

The strategy Alex says works best for him is aggressive pricing on wholesale deals. He remembers a deal that was worth 300 thousand and sold it for 247 thousand because of the location of the house. Don’t be afraid to ask for more money if the property is located in a desirable neighborhood.

 

Alex suggests that newcomers should ask themselves what they like about the real estate business and focus on that aspect. Then find a mentor, and spend a little money so that it will be a more serious investment. Don’t be complacent and keep marketing and networking. Focus more on personal development and become the person you want to be.

 

Recommended reading this episode:

 

Think and Grow Rich, by: Napoleon Hill

E-Myth, by: Michael Gerber

4 Hour Workweek, by Timothy Ferriss

 

Recommended apps:

 

 

Alex thinks the greatest lesson he has learned is surround yourself with the right people.  He credits his family and his faith with the why he is in the real estate business. He enjoys helping people and providing for his family.

 

To contact Alex visit propertywholesales.com or visit alexpardo.com/mentoring. Visit realestateinvestingprofits.com for more Real Estate Investing Profits.  Don’t forget! If you haven’t downloaded your free real estate investing quick start guide. Go ahead and text on your phone the word ‘profit’ to the number 38470 and you will receive a link to download.

Direct download: Episode_6__Alex_Pardo_Running_a_House_Flipping_Machine_in_Florida.mp3
Category:investing -- posted at: 6:00am EST

Cory talks with a father/son team Greg and Matt Sneyd of the Muve Group. The Muve Group is based out of Salt Lake City and is part of MG Property Solutions. They flip homes, new construction, rehabs, and even land deals in real estate. Greg and Matt are also part of the Collective Genius Mastermind.

Matt and Greg have been in the business for 9 years. The whole family is included in the business and it has grown to a successful venture. It all began with a real estate seminar from Ron Legrand. Then they invested in education every quarter to keep on top of the industry. Many things have been learned in this education experience, and it has helped the company diversify. MG Property Solutions is a very well developed brand. Matt created a polished presentation for customers that makes them stand out from the competition. Greg give these tips for a successful real estate business:

  • Implement what needs to be done.
  • Don’t give up.

Matt adds that if they were to do it over, they would have used their own money for flips or shopped around for the best lending deal. Lending partners should never be permanent parts of a business model. Recommended reading this episode: No Excuses by: Brian Tracy Matt says that most of their business comes from social media. So apps that make photos and sale content easier are extremely useful to their business. One of the biggest lessons the two have learned is work with people who are smarter than you. Matt adds that don’t believe everything you hear in seminars. Laws vary state to state and check into the ethics of it. To reach Matt and Greg visit themuvegroup.com or muveproperties.com.

Visit realestateinvestingprofits.com for more Real Estate Investing Profits.  Don’t forget! If you haven’t downloaded your free real estate investing quick start guide. Go ahead and text on your phone the word ‘profit’ to the number 38470 and you will receive a link to download.


Welcome back to another episode of the Profit Masters Podcast Series. Today Cory welcomes Mike Zlotnik, a private lender for real estate investments, to the show. He joins Cory today to discuss the ups and downs of “marrying money with opportunity.”

Mike offers private loans for real estate projects that allow project managers to buy and repair homes. These improvements ultimately improve communities. Borrowers of this “hard money” have two options to pay back the loan, such as:

  1. Sell the house.
  2. Rent the house out.

Mike got started in real estate by buying his first apartment in 2000. He joined Tempo in 2008 and began his career in real estate. It hasn’t all been smooth sailing, Mike learned about fraud and the pain of huge money loss. But he has learned how to be more aggressive in his lending and how to choose the right borrower.

Mike stresses the importance of patience in business. Weigh out business decisions in pros and cons and exercise patience in your choices.

Recommended reading this episode:

Retire Rich, with Self Directed IRA by: Nora Peterson 

Rich Dad, Poor Dad by: Robert T. Kiyosaki

Recommended app: Task Killer

The best lesson Mike offers is to help others. Build better relationships in business and find coaches as soon as possible.

If you want to reach Mike Zlotnick send an email to mike@tempfunding.com

Direct download: Episode_4__Mike_Zlotnik_TempoFunding_Big_Russian_Hard_Money.mp3
Category:investing -- posted at: 6:00am EST

When it comes to house flipping Justin Williams is a master.  Or, as he calls it a house flipping machinist.  Justin joins me to talk about how he got in the house flipping business and shares some of the lessons he’s learned along the way.  Justin is the operator of House Flipping HQ, where he shares his expertise with others interested in learning the art of the flip.

 

After Justin sold 4 houses, he said he realized that he could make a lot more money by flipping houses than by renting them.  This year he expects to use the house flipping program he created to flip around 175 homes.  His breaking point came when he was 120-thousand dollars in debt and sharing a small house with a number of people in Bakersfield.  He started going door to door in the satellite dish business and worked hard.  After just six months he was able to pay off his debts, move out and get into real estate.  

 

That’s not to say there weren't mistakes along the way and Justin talks about those and the lessons he learned.  He also explains how his business buys from wholesale and flips houses.  

His advice about success is leverage.  The leverage of money, people, expertise, technology.  He discusses what systematizing has done for his business.  

 

Justin runs his business around the idea of - think less,  do more.  He suggests the best way to approach it is to have the education you need, take action and surround yourself with like-minded people.         

 

A few of the other questions answered by Justin include:

  • Favorite books

  • Mobile apps in use - he is big on using digital calendars

  • His morning routine

  • When to hire a mentor or coach - he believes in doing it quickly if you want to advance to the next level

  • Why he does what he does

 

Check out Justin’s website at House Flipping HQ.com.  You’ll find all kinds of valuable training information, tips and much more to get you on the path to house flipping.

Take a listen to his podcasts at House Flipping HQ Podcast.

And Justin has just started a brand new website that you have to check out, 8 Minute Millionaire.  

 

Please visit out our website,http://realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download.  

Join us on theReal Estate Investing Profits Facebook site too!

Direct download: Episode_3__Justin_Williams_House_Flipping_HQ_Crushing_In_California_.mp3
Category:investing -- posted at: 4:00am EST

Today on Real Estate Investing Profits, Profit Masters Podcast, my guest is Eddie Speed.  Eddie is the founder of Note School. Since 1980, Eddie has been buying notes.  His Note School is a highly recognized training company that specializes in the teaching of buying performing and non-performing mortgage notes.  Eddie is also the owner and president of Colonial Funding Group LLC, which acquires broker discounted real estate secured notes.  Eddie is a leader and innovator in the note business.  As Eddie puts it, he’s a note guy. He has owned several thousand properties.  He teaches people to buy notes, he buys notes in bulk and resells them in all increments.

 

Eddie explains that he buys existing discounted seller financed notes and defaulted notes that are being held by banks.  With the defaulted notes, he will then attempt to modify and get the customer to pay again, and if that isn’t possible he will try to get them to deed it to him or he  has the right to foreclose.  With over 40 thousand seller financed notes purchased by Eddie’s company he feels it’s an incredible opportunity.  

 

Here’s a few of the questions I pose to Eddie:

  • Biggest influence - his father-in-law and he explains why

  • Any big mistake made - he has been defrauded

  • Advice in running a successful business - don’t give up and don’t get so hung up on price you don’t understand how to be a deal architect

  • If you started all over again what would you have done differently - Eddie explains why he would have been part of a mastermind group early on

  • Greatest lesson learned - trust but verify

  • Why do you do what you do - Eddie has a passion for it

 

Profit Master Investment Strategy:

Eddie says in two-thirds of the United States real estate is too cheap for what it rents for in the working class price band.  He will find houses below a hundred grand that aren’t getting conventionally financed so the owner has to pay cash.  He then will owner finance the property by selling it to the owner for half and will then use it as a rental property for 5 years.  While there is a time that the owner doesn’t live in the property, Eddie has sold it to them for half the price and the renter has paid the other half.  Eddie says it’s a wealth builder and a win-win situation for him and the owner.

 

To find out about the locations of Eddie’s Note School 3 day training classes, check out http://noteschool.com/live-classes/.

 

Free training and additional information is available on his Note School website.

 

Please check out our website,http://realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download.  

Join us on theReal Estate Investing Profits Facebook site too!   



Direct download: Episode_2__Eddie_Speed_Note_Buying_Wizard_from_Texas.mp3
Category:investing -- posted at: 9:59am EST

On this inaugural episode of the Real Estate Investing Profits, Profit Masters Podcast, my guest is Jason Hartman.  Jason has been involved in several thousand real estate transactions and has owned income properties in 11 states and 17 cities. His hard work earned him a number of prestigious industry awards and he became a young multi-millionaire. In addition to running his successful real estate business, Jason is also a podcaster.

Jason believes in the buy and hold strategy involving properties and it really is his speciality.  One of his commandments of successful investing is:

Thou Shall Maintain Control - when you relinquish direct control of your money you leave

yourself susceptible to the fact that you may be investing with a crook, investing with an

idiot, investing with someone who will take a management fee for managing the deal.

Jason also discusses his term: inflation-induced debt destruction and gives us a history lesson of the term in action.

He offers three pieces of advice to run a successful business and explains these in detail:

  • Develop a brand
  • Develop systems
  • Develop a unique business model

I asked Jason some questions, like,  if you had to start over what would you change?  Jason would have purchased more property.  His favorite quote he tells us is a zen saying.  Jason lists some of his top books that had an impact on his life in one way or another.  He fills us in on his favorite app, his morning routine, his single greatest lesson learned, the things he is most grateful for, whether to hire a mentor or coach and why he does the things he does.

Jason has some interesting bits of wisdom to share throughout this interview.  He leaves us with the thought that it’s amazing how quickly investments will pay off and wishes everybody happy investing!

You can learn more about Jason on his website, jasonhartman.com.  He also has an extensive podcast site which you can find at hartmanmedia.com.  You can also listen to his podcasts on  iTunes or Stitcher.

Please check out our website, realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download.

Join us on the Real Estate Investing Profits Facebook site too!

Direct download: Episde_1__Jason_Hartman_Creating_Wealth_in_California.mp3
Category:investing -- posted at: 5:19pm EST

Direct download: Your_Pain_is_Your_Power.mp3
Category:investing -- posted at: 6:39am EST