My Co-Worker & Civil Engineer, Patrick Herbig talks about how he screwed around writing wholesaling letter, flipping a home, and building a home from scratch only to find his way to cashflow and going Big with Apartment Syndication
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Chris Myles explains the downside to using Helocs to pay off mortgages & a teaser on life insurance
Is Renting is better than owning? (when the Rent to Value ratio is less than 0.7/0.8% rent!) – Frugality Sucks…make more money instead of wasting your time saving it – Your peer group is so important and will be the end of you
How I make 35% Return on Rental Investing
You are your peer group!
Tarl Yarber has been investing in real estate for the past 11 years and is the owner of Fixated Real Estate LLC and specializes in systemized high volume fix and flips in multiple states. Between 2014 and 2016, Tarl and his team flipped over $25 Million in single family homes with rehab budgets between $30k-$250k per house.
1) How much simple passive Cashflow are you making today and how are you doing it?
Rentals with net monthly at 1235/m and a third in rehab for another 415/m once done. We also have tied up a 4plex that should net apprx $1625/m net cash flow after we remodel and get new tenants.Most of what we do is large volume rehabs for this area, our systems free up a ton of time and help bring in the cash.
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 (you got fired) trigger?
11 years ago at a real estate wealth expo. Extreme changes needed in my life. I did the opposite of everything I was on track for and went a completely different way in life. Ill explain on show if needed
3) Worst life/business moment what did you do after? Lesson learned?
Business partnership failed, I felt utterly betrayed and destroyed. I learned to always get things in writing, to always be the better person and do whats right in a deal at all times. More lessons as well.
4) A mark of a high performer is to put your ego aside and accept the help of others and mastermind. 2 week experiment and 6 month project? (90-180 day goal) Perhaps people can help you out? Any secret habit to share?
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.
$1mil a month
6) Something that you have recently or thought about “burning your cash” on for time savings or an improvement in quantity of life.
Lots and lots of VA’s. And a new house with a sauna, meditation room, gym, land, etc. Sanctuary. Plus a dive boat that is capable of long trips.
7) 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 this was your final words of wisdom, what is your secret to the “Science of Achievement?” And “Art of Fulfillment?” How you do contribute back?
Secret to achievement: lots of objective self-analyzation and taking full responsibility for your life and how you build it and react to the challenges that arise during it
I love all emergency medicine, teaching real estate, ski patrol big time
8) Anything we missed and contact info if you would like anyone to get a hold of you. URL?
Connie discusses grinding through Corporate America and how she dabbled in real estate. Then finding cashflow rentals and seeing the light at the end of the tunnel.
Why financial advisors are from the evil Empire, why you may not want to just invest in real estate – even though its the best;)
Erica tells her story of how she was eating lunch and walked from the job to eventually build a thriving coaching business.