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Podcast#088 – Interview with Jason Yarusi – Flipping is just a JOB and going Large Apartments

• Sold off short term rentals and now Large MFH investor

• Started in family construction business for framing

• Started flipping then rentals

• Moved from using cash for everything to using leverage

• You can bring Money Time Knowledge or deal

• Team up with Lane 😛

• Push through bad experiences

• A year of learning MFH before going into it

• Getting your Fannie Mae card is key via a mentor

• Add value to a mentor

• Keep your focus but pivot quickly

• Mediation and running helps him set the day

• Focus on where you want to be

• Check out the classifieds in newspapers

Are you stuck holiday shopping?

Sitting around waiting in lines or family to finish holiday shopping? Here is some good reading?

https://www.cnbc.com/2017/12/14/older-wealthier-americans-are-the-new-renters.html

https://www.realpage.com/mpf-research/leaderboard-annual-permits-remains-largely-unchanged-october/

https://www.axiometrics.com/resources/axio-media/blogs/marriage-family-household-statistics-could-help-explain-propensity-to-rent/

http://www.nreionline.com/multifamily/has-multifamily-market-growth-been-stronger-urban-or-suburban-settings

https://alndata.com/multifamily-floorplan-distribution/?utm_source=December2017Newsletter&utm_medium=Email&utm_campaign=Read+the+Article

Like this type of content? Please email to a friend! Want to join the closed Facebook group? Use this link to setup a time to chat: https://calendly.com/simplepassivecashflow/20

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Podcast#087 – Fundamentals – Interview with Dana Dunford -What amenities should I provide my rentals and new technologies.

In this episode we discuss:

• Nest automates thermostats and one day in the near future is a good implementation in B rentals

• HVAC or dishwasher breaks and technology can alert you

• Technology good for B and A class

• Class B rentals are having Amazon lockers and these Nest thermostats

• Know your avatar

• At one time backsplash in kitchens was unheard of and now its a cheap fix

• What is standard in the market? Dishwashers, garage doors, laundry price, etc..

• Zillow gives good filters for amenities like washer and dryers

• Ask your property management what is standard

• SFH’s should have the tenant paying the utilities

• RUBS is Reimbursement Utility Billing System

• Skeptic on keyless entry soon but good for short term rentals

• A lot of new hardware and software coming but lets try it out at our own homes first yea 😁

• Use the technology in your rentals for tracking and monitoring

• Don’t have personal relationships with your tenants

• Property manager’s are the most critical people on your team and go off referrals

• Yelp is just angry vendors writing bad reviews for each other

• I look for the negative reviews as a good thing because they don’t want to cave in to resident requests

• A nest thermostat or Thanksgiving turkey might be a good gift to bait a longer contract

You are Invited to Hawaii

Visiting Hawaii? Drop in for a business meeting? Support local businesses yea!

I moved back to Hawaii because people here have got wealth building all wrong – a lot of equity, generational wealth, and saving/losing their money in the Bank. Teaming up to redirect money from the Wall-Street casinos and corrupt financial institutions…To help the endangered ‘Middle Class’ savers find safer, more profitable investments in Main Street opportunities benefiting local communities 808 style. Begin with the end in mind is what the smart folks say… so I am trying to work backwards and continue to bring the best deals to you loyal podcast listerns. Real talk guys… I’m trying to change the world.

SimplePassiveCashflow.com is for working professionals who are looking for diversification and better returns outside of traditional investments such as mutual funds and stocks. The Hui Deal Pipeline Club is a free investor club where I filter investments and underwrite the numbers and partners myself. Unlike other investor lists and groups, my investors have personal access to me and know that I personally have skin in the game investing alongside with my investors.

Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across.

 

‘Drink & Grow Rich’ with Real Estate Investing: Topic – Private Lending

5:30PM-6:00PM – Open Networking

6:00PM-6:20PM – Lane Kawaoka from SimplePassiveCashflow.com will discuss his last Private Money Lending deal where he lent money to a home flipper to collect a passive return. 6:20PM-8:00PM+ Hang out and discuss investing with other members. Open networking.
Make sure you join REI 808:

https://www.meetup.com/REI808-Passive-Real-Estate-Investin…/

https://www.facebook.com/groups/SPCHUI808/

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Podcast#086 – Fundamentals – Interview with Ty Crandall – Getting Business Lines of Credit

Ty Crandall is an internationally known speaker, author, and business credit expert. With over 17 years of financial experience Ty is recognized as an authority in business credit building and is the author of two books on credit named Perfect Credit and Business Credit Decoded. He has been featured by Entrepreneur, Inc, and Forbes.

Ty currently serves as the CEO at Credit where he has helped create and grow one of the biggest and most credible business coaching operations in the United States. We help investors obtain capital to purchase real estate.

Something that you have recently thought about “burning your cash” on for time savings or an improvement in quality of life.

Several forms of automation, most recently an automated system for billing recovery.

www.creditsuite.com, info@creditsuite.com, 877-600-2487

Business credit does not use personal credit

Uses your Business EIN

1) Set up a business, website, physical address, land line

2) Get setup with reporting agency – write to reporting agency to see if you have an existing report

3) Get credit cards using EIN (Do not use Social Security Number)

4) Get Uline, Quill, Grainger, Seaton, Gimler, etc accounts

5) After 5 accounts get Home Depot, Lowes, Cash Credit Cards, Amazon, Sears

6) After 10 accounts get VIsa or Mastercard accounts

creditsuite.com/reports

Podcast #85 – Buying and Selling Businesses with Ace Chapman

Ace bought his first business when he was nineteen. It was an online stock market simulator called CoolWallStreet. After selling it and seeing the benefits of buying a business over starting one, he caught the business buying bug. Since then he has bought and sold over thirty businesses and has helped his clients all over the world buy over one hundred businesses.

Ace buys and sells internet businesses. He had done over 40 deals

1) How much simple passive Cashflow are you making today and how are you doing it?

I have a portfolio of over 30 internet businesses that create income.

2) What is your Han Solo moment – Han Solo and his buddy Chewbacca from Star Wars were cruising around the galaxy as lowlife smugglers but then cross paths with Luke and Leia and his life took a pivot point. Describe the resistance that was the catalyst for change. Did you “burn the boats” or did you let it happen naturally – was there an internal (you decided to make a change on own – what was thought process?) or external trigger (ie got fired from your job)?

My moment was definitely burning the boats. I quit college which basically meant that I was not going off have the normal 9-5 corporate life and set on the path towards entrepreneurship ever since.

3) Worst life/business moment and what did you do after? Lesson learned?

Losing my first business after having seven figure offers that I turned down.

4) Current 2-week experiment and 6-month project? (90-180 day goal). A mark of a high performer is to put your ego aside and accept the help of others and mastermind maybe folks can help you by you asking.

● Current 2-week experiment – taking three breaks a day for meditation

● 6 month project – building a life where I live in both Atlanta and Miami

5) What is your simple passive Cashflow number? Now imagine you had 2x that amount… Describe your ideal day, detailed routine, and what projects you are working on.

● Ideal day – Exactly what I’m doing right now. I love what I do. I don’t have to do it but it’s my passion.

● Projects – Buying and selling businesses. Helping people avoid the risk and headaches of starting a business and show them how to buy one instead.

6) Something that you have recently or thought about “burning your cash” on for time savings or an improvement in quality of life.

Jet membership

7) Something that you changed your mind on? Our ego often gets in the way of greatness.

In negotiating deals, sometimes you end up fighting with seller’s egos instead of logic. There have definitely been deals that I have walked away from because I didn’t want to deal with the seller’s ego.

8) Tony Robbins identifies two large concepts that we are continually struggling to gain perfection at: #1-Art of Fulfillment and #2-Science of Achievement. If you died tomorrow and I were to email this to your kids a couple decades later… this is what they would hear.

a) What is your secret/hack for the “Science of Achievement?” Any secret habits to share? Morning or Nighttime ritual?

● My secret hack is avoid what everybody else is doing. The greatest opportunity is always found where the fewest people are looking.

● Morning Ritual – To start the day with as much positive energy and emotions as possible.

b) What is your secret/hack for the “Art of Fulfillment?” How you do contribute back?

● I joined a Big Brother mentoring program.

8) Anything we missed and contact info if you would like anyone to get a hold of you. URL?

● Instagram – ace.chapman

● Twitter – acechapman

● Youtube – Ace Chapman

● Facebook – Ace Chapman

● Website – www.acechapman.com

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Podcast#084 – Interview with Mark Walker & Dealing with Very Shady Characters

Mark Walker is founder of Luxmana Investments, which focuses on residential and multifamily investments. Mark quit his corporate job and is now a multifamily investor.

1) How much simple passive Cashflow are you making today and how are you doing it?

(You don’t need to give a number if you would like privacy. You can be vague such as halfway to quitting my job, cover my mortgage, make 25% of my expenses, over $10k, although people like when people open up the kimono):

My passive income is more than 200% of my expenses. I have a portfolio of 22 SFR’s in Denver, Colorado, and a 64-unit apartment complex in Dallas, Texas. I also have a small equity position is another 96-units in Dallas, TX, but I am not the managing member of that.

2) What is your Han Solo moment – Han Solo and his buddy Chewbacca from Star Wars were cruising around the galaxy as lowlife smugglers but then cross paths with Luke and Leia and his life took a pivot point. Describe the resistance that was the catalyst for change:

I met a general contractor in 2010, and we decided to do a couple residential development deals together. Through that relationship I was introduced to several people who were instrumental in me taking the next steps to build my passive income portfolio from there. Combine this with the fact that I was becoming increasingly frustrated with the corporate world, and that drove me to become even more focused on escaping the rat race.

3) Did you “burn the boats” or did you let it happen naturally? Was there an internal (you decided to make a change on your own – what was thought process?) or an external trigger (ie got fired from your job)?

I decided to make the change on my own, as I desired financial freedom and to spend more time with my family. The external factor of becoming frustrated with the corporate world was not the primary driver, but it did add to my motivation.

4) What was your worst life/business moment and what did you do after? Lesson learned?

In the 2005/2006 timeframe, I moved forward on a real estate opportunity which turned out to be fraud. I can certainly elaborate on this, but long story short: I testified to the Grand Jury to help get this indictment, and I was the second person they put on the stand at the official trial. The offender received a 130+ year prison sentence, which was the largest sentence ever given in the State of Colorado at the time for fraud. I learned about the importance of “trust, but verify.”

5) Current 2-week experiment and 6-month project? (90-180 day goal) A mark of a high performer is to put your ego aside and accept the help of others and mastermind maybe folks can help you by you asking.

My top two goals in 2017 are around family and health. If I can find and do one 50+ unit multifamily deal in 2017, that will be icing on the cake.

6) What is your simple passive Cashflow number? Now imagine you had 2x that amount… Describe your ideal day, detailed routine, and what projects you are working on.

Simple passive cashflow number is $20K/month. If I had $40K/month, it’s full retirement in Central America. It would be lots of days in the sun with my wife and daughter, plus exploring this region of the world. We would, of course home school our daughter.

7) Something that you have recently thought about “burning your cash” on for time savings or an improvement in quantity of life.

Tesla P100D – so incredibly impractical, but really cool.

8) Tony Robbins identifies two large concepts that we are continually struggling to gain perfection at: #1-Art of Fulfillment and #2-Science of Achievement. If you died tomorrow and I were to email this to your kids a couple decades later… this is what they would hear.

a) What is your secret/hack for the “Science of Achievement?” Any secret habits to share?

Never stop learning. Learning leads to action, and action leads to success.

b) What is your secret/hack for the “Art of Fulfillment?”. How you do contribute back?

There should always be a reason other than money for why you do anything. For example, I didn’t build a passive income portfolio because I wanted to buy a fancy car, bigger house or a Tesla. I did it because I wanted to be financially free so I could spend more time with my family and positively impact other people. So, I contribute back by giving people a great place to live, but I am also able to give more of my time (e.g. Salvation Army, etc).

9) Anything we missed and contact info if you would like anyone to get a hold of you. URL?

I would like to give the listeners a free gift as a thank you for listening: 10 “Not So Obvious” Ways to Boost Your Multifamily Property NOI. You can get it at: http://www.luxmana.com/simplepassivecashflow

Defaulting on my mortgage & Credit Score Impacts

I recently attended a local real estate Meet-up and there was a talk from a lender. Instead of wasting your time traveling there and inevitable fluff in these meetings… here are my takeaways from Credit Score SME presentation… 

1) Previously 50% utilization on each credit card (not an aggregate of all cards) is now 30% to have an impact on the score. Things are getting stricter.

2) They now look at “payment acceleration” meaning paying the minimums every month is looked down upon. Might want to pay 50 bucks one month then 55 then 60 then 65…

I recently had the experience of missing the payments on two of my mortgages and went into default for 30-60 days and got register mail sent to me for being a naughty boy. My autopayments got backed up and the mail got sent to my old address in the move to Hawaii. Things are fine now and I got everything caught up. In the end, I saw my score take a 60 point hit, but I don’t really care because for commercial loans it does not really matter what your personal fico is. It just can’t be terrible. And by the way I got caught up and saw some of my credit card interest rates go up.

credit score

After

A lot of you guys who book a call with me are using HELOCs to purchase more properties. The optimum credit score for that is 620.

Also wanted to thank you all for the support this year and wanted to give people of big plans for 2018! Let’s work together to redirect money from the Wall-Street casinos and corrupt financial institutions…To help the endangered ‘Middle Class’ savers find safer, more profitable investments in Main Street opportunities benefiting local communities. Please email the website and podcast to a friend. And remember If you or someone you refer invests at least $50K into one of my future deals you will be invited to my exclusive Ali’i Mastermind with other 12-20 other serious investors to discuss deals and our own portfolios.