125 – Living the FI dream abroad with Jeremy Jacobson from Go Curry Cracker

YouTube Link: https://youtu.be/3NQ0agjuxXY? sub_confirmation 1

Article Link: Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word “”ebook”” to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar – I’m an Engeneer, Enginere, Engenere… I’m good with math!

________Here are the Show Notes________

Went on normal path. Got a job after college, house, and fixated on paying off student loans.

Aggressively paid down student loans, but motivated by people who retired early.

5 years ago, both quit their jobs, traveling, raising family, and living their dream.

Ruthlessly slashed expenses and saved 70-80% after-tax income.

Max contributed to 401K, IRA, HSA, and after-tax accounts.

Short-term joy = trading years of financial-free opportunity.

Actively chose lifestyle. Traveled internationally by arbitraging where they lived with low living expenses.

Didn’t listen to mainstream advice of owning home. Choosing a renters lifestyle to not get “”stuck.””

Both have blogs and garnered new friendships; not the “”Seattle Chill.””

Finances on auto-pilot. Can work on growing family in Taipei and doing creative things they did during childhood.

Two types of things preventing people from being financially-free: Afraid to take leap to be financial-free and long-term goals to strive towards.

People don’t change minds because you provided info to them; they change when they’re ready.

Visit www.gocurrycracker.com and social media accounts on FB, Instagram.

124 – Brian Hamrick from the Rental Property Owners Association

YouTube Link: https://youtu.be/-ENcRI2LhuA? sub_confirmation 1

Article Link: Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word “ebook” to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar – I’m an Engeneer, Enginere, Engenere… I’m good with math!

________Here are the Show Notes________

Brian Hamrick is from Rental Property Owners Association (RPOA) and runs Rental Property Owner and Real Estate Investor Podcast.

Currently owns 380 units, which cash flow makes 50% of W2 job salary.

Paydays not only about cash flow. Cash out refi and syndication benefits once and twice a year exceed W2 job salary.

Was sitting on cash waiting for next downturn. However, in past year, became a silent investor in commercial property, a NPN, and a self-storage facility.

Expects rents to plateau in future, but not to 2008 levels.

Started off investing in high-load tech funds, but bubble burst in early 2000’s and stocks tanked.

Rich Dad, Poor Dad inspired Brian to begin investing in real estate and obtain more control.

California is cash-flow negative market, so looked at positive cash-flowing out-of-state markets.

Transitioned to multi-family investing in 2008 for better scalability and profitability.

As passive investor, focusing on leveraging partners’ strengths for new passive investments.

Down the road, looking at developing the “missing middle” properties (small MFH 2-10 units).

Visit www.higinvestor.com to get in touch with Brian.

123 – Why to break-up with your Financial Planner – Interview with Brent Sutherland

 

Just got back from Korea after my first vacation for the year. I wrote an article that you can get access by signing up for the monthly newsletter or via the Hui Deal Pipeline club.

Monthly updates and what I’m doing in my own investing

Podcasts have been piling up and I realized the need to add some context to the introductions to highlight important items to look out for. Also to call out opinions I don’t really believe in.

This podcast I had Brent Southerland what is a CFP but not one of those other quacks who get paid on commision and try to stuff you in whatever is most convenient or biggest paycheck for yourself.

Check out the bigger article here on this topic: SimplePassiveCashflow.com/fp

Enjoy and remember to go to SimplePassiveCashflow.com/club to join our investment club

Brent Sutherland is a CERTIFIED FINANCIAL PLANNER™ practitioner, with over 11 years experience in financial services.  With stops in the corporate accounting and investment world, and now the boutique financial planning arena Brent has witnessed, firsthand, how the financial services industry has fashioned itself into an overly complex machine in an effort to cause confusion, encourage mistakes, and justify fees; all to better benefit its own bottom line.  He believes there is a strong correlation between financial noise and financial mistakes which further delay one’s personal financial success.

Therefore, his objective is to help individuals turn off the noise and challenge the traditional approach to financial planning and thinking.  In his experience as a financial advisor and personal finance enthusiast (+ early retirement advocate + semi-minimalist + real estate investor), Brent has found that most often the simplest solutions and some outside the box thinking will better help individuals on their way towards sitting firmly in the driver’s seat of their own financial world.

Why don’t financial advisors advocate for real estate investing?

  • Primary = Compensation conflicts of interest
  • Secondary = Lack of education, so pose it as a risky asset
  • Secondary = ERISA and how mutual funds came about with employer-sponsored 401k

How do FA make money? Similar to MLM? — (Is this short for multi-level marketing?)

  • Can tie this into the first topic above (compensation conflict, which is a primary reason why FA’s don’t discuss real estate investing)

Hidden fees in even low got mutual funds?

  • Transaction fees, Management fees (can be tiered based on assets), Loads (front-end, back-end), 12-b1 fees

What tricks do FA use?

  • Use of traditional planning items related to portfolio to justify: “security”, “diversification”
  • Use of confusion terms related to portfolio to justify fees:  “alpha”, “sharpe ratio”
  • Use of graphics that show market returns (absent fees), but fail to discuss emotional impact on client and true returns normally witnessed

The importance of income diversification over portfolio diversification

  • Income diversification protects against big risks:  loss of job, market crash, injury
  • Portfolio diversification is important, but is a secondary risk.  Savings is even more important.

Why are paper assets more risky than hard assets?

  • Always going to be demand for hard assets, especially real estate (living, production)
  • Population trends are growing at an exponential rate, land and resources are not
  • You have more control over real estate; meanwhile the stock market is out of your hands

Why passive cash flow betters your odds of financial independence

  • Gets you to the point where you’re truly secure and can have peace of mind.  Not worried about your boss/job, and not worried about things going on the the world, country, state (etc) economies that are out of your control.  You become the boss of your personal economy.

Talk about your personal transition to direct ownership in Real estate and recovering from the lies?

  • Seeing it work for other people, educating myself (independent of my traditional “education”), and finally making the move to buy my first property (after some analysis paralysis and fear)

Proper planning techniques to access money tied up in your retirement accounts.

  • First know the rules involved (traditional IRA/401k versus Roth IRA/401k), as you don’t want to just hand a big chunk to Uncle Sam in form of taxes and fees.
  • Impact of cashing out plans
  • Strategies to more efficiently free up that money and keeping more in your pocket (Roth conversions, Substantially Equal Periodic Payments (IRS Code 72t))

What to look for in a FA?

  • Want someone who is fee-only (hourly or per service) and planning focused.  Someone who is focused solely on managing your money for a % fee is going to always have a biased interest in moving you towards a liquid/paper portfolio).
  • Find someone who lines up with your values and interests.  Never be afraid to interview multiple people and ask tough questions.  Advisor should have conviction in what they do.
  • Understand that a financial planner can be very valuable, as there is much more to financial planning than how you invest your money (insurance, estate, education needs all need to work in harmony with an investment plan to best meet a person’s financial goals), but imperative that that financial planner is on the same page as you.

brent@ntellivest.com

122 – Apartment Investing with Michael Blank

YouTube Link: https://youtu.be/1N3wBAwPrfw? sub_confirmation 1

Article Link: Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word “ebook” to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar – I’m an Engeneer, Enginere, Engenere… I’m good with math!

________Here are the Show Notes________

Partner with Multi-family Home (MFH) students to close first MFH deals.

Passive Income became attractive after reading Rich Dad, Poor Dad.

Opened pizza restaurants without mentor and lost 95% of net worth after 5 years.

Realize can raise money for Real Estate. Flipped 30 houses in 2 1/2 year but still active work.

Received passive mailbox money for first apartment in 2011 and never turned back.

Combination of doing MFH deals and teaching/helping others is fulfilling.

Stop being a drifter. Drifting keeps us from living an intentional life.

Ongoing experiment to scale business while not lacking quality of deal.

Transition from being focused on generating money to helping people become financial-free.

Do first MFH deal and reduce living expenses to quit W-2 job.

Momentum will build in subsequent deals. But first deal is always hardest.

At peace with things out of your control.

Be sensitive to where your business is to make right investments, such as virtual assistants, salary employees, etc.

Smaller apartment deals (duplex) will kick off law of first deal.

Don’t need $30K to do first deal. Spend on education and raise capital and/or find deals in this seller’s market.

Controlling time is most important resource. Don’t put ladder on wrong building.

Visit www.themichaelblank.com to download free ebook about raising money for MFH apartments.

119 – Dissecting my Recent Insurance Claims with Ed Babtkis

YouTube Link: https://youtu.be/_q1CV–qhBg? sub_confirmation 1

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word “ebook” to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar – I’m an Engeneer, Enginere, Engenere… I’m good with math!

________Here are the Show Notes________

Revisit Episode 38 for insurance fundamentals.

Two recent claims broke the straw on the camel’s back for single-family homes.

Water claims has a lot of denials and payments.

If homes built in 1920-1960 and pipes haven’t been touched, chances are pipes are leaking.

Leaking –> cracked pipe –> pipes burst.

If property vacant, pipe leaking, and in cold weather environment, house needs to be “winterized.”

Establish pre-existing condition by taking before and after photos – especially if pipes in good condition when you purchase.

Defining cause of damage always murky.

Recoverable Depreciation = amount of money you get as long as you do the work.

Tenant in Episode 80 went AWOL and trifecta of theft, vandalism and maliciousness mischief.

After before and after pictures, frame claim with timeline of problems – ensures claim happened during policy period.

Ed runs Ross Diversified and insures nationally, such as investment properties, NPN, foreclosures, fix-and-flips, and more.

Best way to contact Ross Diversified: 1-800-210-7677 and/or Bruce Young at byoung@ross2.com.

 

118 – Interview with Nick Loper – Side Hustle Nation

 

YouTube Link: https://youtu.be/AxTwDVoAPNg? sub_confirmation 1

Article Link: http://simplepassivecashflow.com/118-interview-nick-loper-side-hustle-nation/

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word “ebook” to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar – I’m an Engeneer, Enginere, Engenere… I’m good with math!

________Here are the Show Notes________

Started side hustling with footwear comparison shopping website while working in Corporate America.

Some projects worked; some didn’t. Side Hustle Nation blog and podcast still exists and going strong.

Stuck on bottom rung of Fortune 50 company with no direct results to effort you put in.

“Hustle Time” after 9-5 and weekends.

Prioritize one thing for your business that is proactive accomplish it the next day before going into reactive mode.

Set up “Theme Days” to be more efficient.

Listening to radio is a waste of time. Used audiobooks and podcasts as own coaching.

Accountability from peer and mastermind groups keeps you hustling.

Purchasing a rental is an accepted, passive side hustle you can likely be public about.

Side hustles weren’t huge secrets. 44 million Americans have income on the side anyway.

Real Estate Investing at moment are through REITs, Fundrise, Peerstreet. Focus on what you know and willing to do.

Need to start side hustle and business to get bigger returns v. real estate investing.

Visit www.sidehustlenation.com. For part-time ideas, visit www.sidehustlenation.com/ideas.

117 – Assisted Living Facilities with Loe Hornbuckle

Edited audio version: https://youtu.be/r2O7mQ_g4Ug

YouTube Link: https://youtu.be/LOORnE1rWFk? sub_confirmation 1

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word “ebook” to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar – I’m an Engeneer, Enginere, Engenere… I’m good with math!

________Here are the Show Notes________

Different types of Assisting living

The boutique ALF method

How Loe got started investing

10 percent higher than average rents of 5500 a month in TX

ALF business plans

How to find a home for mom and dad

Find Loe at http://thesageoak.com/

116 – Jay Papasan from the One Thing

YouTube Link: https://youtu.be/4K4VFnGpfJo? sub_confirmation 1

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word “ebook” to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar – I’m an Engeneer, Enginere, Engenere… I’m good with math!

________Here are the Show Notes________

Jay Papasan is a bestselling author, vice president and executive editor at Keller Williams Realty International, and co-owner, alongside his wife Wendy, of the Papasan Properties Group in Austin, Texas. His most recent work with Gary Keller on The ONE Thing has garnered more than 200 appearances on national bestseller lists including #1 on the Wall Street Journal bestseller list. Before joining Keller Williams Realty, Jay served as an editor at HarperCollins Publishers, where he worked on such bestselling books as Body-for-Life by Bill Phillips and Go for the Goal by Mia Hamm.

Jay serves as Gary Keller’s co-author and executive editor on best-selling titles including: The Millionaire Real Estate Agent, The Millionaire Real Estate Investor, SHIFT: How Top Real Estate Agents Tackle Tough Times, FLIP: How to Find, Fix, and Sell Houses for Profit,HOLD: How to Find, Buy, and Rent Houses for Wealth, and The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results. He also co-authored SHIFT Commercial.

Best investing books Simplepassivecashflow.com/books

The domino theory – momentum

18-25% total return for SFH

Start small – and go small first fast

Co pairing tasks

Focusing question – what is the one thing I can do that will make everything else go away

411 – annual goals

Work a maze backwards – begin with the end in mind

Counter balance not balanced

When do you stop pushing and start living?

Don’t buy your primary residence

Involving your spouse

Short segments:

 

 

Podcast #115 – Flipping to passive rentals with Mark Ferguson

YouTube Link

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word “ebook” to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar – I’m an Engeneer, Enginere, Engenere… I’m good with math!

________Here are the Show Notes________

Aside from blog, owns 15 rental properties in Northern Colorado generating $7K/mo passive income.

Harder to cash flow around Denver. Looking out-of-state.

Since Sept 2015, has not purchased new SFH. Focusing on commercial, flipping, which was best use of time.

Always demand for low-end flips (less risk v. high-end).

Write own goals, don’t rely on other people, and think differently to develop himself.

Don’t C.E.F. – especially if you’re not a contractor.

Some opportunities in purchasing primary residential properties, but not going to stay there forever.

If you want to be creator and sell houses full-time, get a real estate license. If part-time, not really recommeneded unless you own a couple properties already and can expend time.

Goals for more passive income ($100k/mo) and freedom = happy.

Change your mindset and try. Otherwise, you’re stuck where you are (ex: frugal). What’s your motivation and dreams?

Let people drink their haterade.

Tough to let go, but happier to save time by hiring out on blog, website, e-mail, property management, etc.

Not a tech-savvy guy, but build blog and all that SEO!

Wished more good people to hire directly instead of 3rd parties.

Don’t force yourself to buy something – especially in a sellers market.

Are you taking action that’s getting closer to your goals or treading water? Take time for yourself.

Always lot of stuff to do, but don’t stress about it. A couple mistakes or not getting things done will not ruin you.

First blog comment was fulfilling. Drives motivation on how to help give back to others.

Check out www.investfourmore.com and podcast. 453 articles and 117 podcasts.

Contact info: Mark@investfourmore.com

 

Podcast #114 – Jennifer Beadles – Turning Active income into passive income in a Primary market

YouTube Link: https://youtu.be/KrOhA6xv6rc? sub_confirmation 1

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

For a free electronic version of my bestselling book in 12+ categories text the word “ebook” to 587-317-6099.

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Join the Hui Deal Pipeline Club! SimplePassiveCashflow.com/club

Pardon the grammar – I’m an Engeneer, Enginere, Engenere… I’m good with math!

________Here are the Show Notes________

Income has a cap
Bought first house at 21
Take business profits into buy and hold rentals
Say out of Seattle
Mount Vernon WA
Tell the agent in super simple terms
Comments on meetups
Should i get started now?