We have DeRosa Group CEO & BiggerPockets Contributor Matt Faircloth on the show!  Real estate is a powerful vehicle for transformation. It can provide stability and security that a family needs to get ahead, and it also creates opportunities for entrepreneurs to build wealth. When we invest in real estate, we’re not just helping ourselves—we’re helping to make neighborhoods better places to live. That is the mission statement that defines this episode. In this episode, Matt Faircloth shares his journey and tips on how to transform lives through real estate. Here are some power takeaways from today’s conversation: Scale smartly.Work hard to get your brand out.Always be ready to pivot.Be patient and creative when investing.Adopt a positive mindset. Episode Highlights: [08:46] How to Scale Smartly Investing a large amount of money is a behemoth to manage. You have to work your way into it. Start small and do deals with your own money. Double your portfolio every time you do a deal. [20:37] Investing with DeRosa Some reminders for people who want to invest with the DeRosa Group include a.) Be patient. It takes time to build cash flow. b.) They invest in specific markets so you have to be okay with their markets because they have assets and operations in place already. c.) Believe in transforming lives through real estate. [24:20] The Current Real Estate Market The real estate market is slowly but surely coming back to a level of reasonability. But it does not change overnight. You must be patient and creative. Look at other asset classes besides housing. Find deals that make cash flow on the first day. [32:26] Create a Positive Mindset Your thoughts and words create your life. So try to think and speak optimistically. Things work out when you think and speak positively about things. Focus on what you want and fight for what you believe in. Notable Quotes: [10:36] “Put your ego down and just double your portfolio every time you do a deal.” [29:27] “Find deals that make cash flow day one.” [32:39] “My thoughts and words create my life.” Resources Mentioned: BiggerPockets Raising Private Capital: Build Your Real Estate Empire Using Other People's Money by Matt Faircloth Rich Dad Poor Dad by Robert Kiyosaki Conversations with God by Neale Donald Walsch Reach out to Jeremy on LinkedIn and Instagram

Finding your niche as a real estate investor is important to pave success, and the short-term rental space is a lucrative space to consider if you know how to do it! Once you learn how it works, you will see how much capacity it has to bring in BIG amounts of cash flow. The question is, how do you begin? In this podcast episode, Graham Singer, the co-founder and co-CEO of real estate investment firm Blue Pine Advisors, joins us to talk about his journey investing in the short-term rental business. He tackles the importance of understanding the market to find the niche that works for you, finding the right people to do the investment with, and finally, overcoming the fear of taking big risks to deliver bigger returns. Here are some power takeaways from today’s conversation: Find your niche and monitor the market.Find people to work with you instead of going it alone.Look for ideal locations to fit your niche.Budget for high-quality property management.Expand your network. Episode Highlights: [09:04] Lessons from the First Property Go for an easy and low-risk property for your first investment. The first property is always a lesson to learn from - how to purchase, renovate, manage, refinance, and repeat. Over time, you’ll learn how to achieve bigger results. [20:06] Finding Your Niche It’s not all about just buying the first property you set your eyes on and turning that into a business. You need to find your niche by understanding how the market works. Graham decided his niche would be in luxury short-term rentals that can house a large group of people. He understood the high demand and low competition in that space. He also focused on purchasing properties in luxury locations and renovating them with luxury amenities, staying true to his chosen niche. [28:42] Find the Right People to Do Business With There are benefits to purchasing an Airbnb individually, but there are far greater advantages when not investing alone. Funding and management become much easier. Aside from partner investors, you’ll also want to connect with property managers, maintenance groups, etc. Expand your list of buyers and your business network. Notable Quotes: [20:53] “The whole logic with our investment strategy is there are far fewer luxury short-term rentals than there are studios.” [29:52] “If you do go out in Airbnbs, you have to climb the algorithms. So your first few months aren’t going to be your best months.” [31:48] “I would encourage people not to go out and do it yourself. Invest with you, invest with me, and let us do it because there are a lot of nuances.” [41:01] “If you see something that’s probably too high to believe, it probably is.” Links to Resources: Connect with Jeremy: LinkedIn Big Law Capitalist: Instagram | Apple Connect with Graham: LinkedIn Blue Pine Advisors: Website | LinkedIn Funds: Private Equity, Hedge, and All Core Structures by Matthew Hudson, available on Amazon AirDNA: Short-Term Rental Data Analytics: Website

The differentiator between good investors and great investors is the ability to spot opportunity in places others may not be looking.  This applies in traditional real estate and in the PropTech space. There are no easy answers, but if you’re willing to work hard and think outside the box, you can reach extraordinary levels of success. In this episode, Paul Wakim joins us to talk about how he entered into real estate investing and ultimately co-founded TwnSqr, a PropTech company. He discusses his entrepreneurial journey from starting a successful real estate photography company to developing a tech start-up that is disrupting the $226bn real estate sales and brokerage industry. Here are some power takeaways from today’s conversation: Don’t be afraid to act on opportunities when they present themselves.Adopt a problem-solving mentality.Expand your real estate network.The goal should be obtaining freedom of choice. Episode Highlights: [06:30] Why People Sell Real estate would not exist if people did not want to sell their homes. So Paul learned how to code and built an algorithm to interpret the reasons people want to sell and how to find motivated sellers. [09:15] Defining “Wholetailing” Retail real estate is the traditional act of buying and selling real estate. Wholesale real estate is selling the contract to purchase before you purchase it. Wholetailing involves finding motivated sellers, purchasing the property, and then selling it to a buyer for a profit immediately after purchasing it. [17:05] Exploring the Benefits of TwnSqr TwnSqr is a marketplace for real estate investors and sellers to buy and sell properties themselves. They also have tools to support investors. One of the defining tools of TwnSqr is that real estate investors can bring a property to the platform as well as their buyers list. Users are also able to share assets with each other. That allows investors to make connections and collaborate. TwnSqr is aiming to own the off-market inventory space in PropTech. [26:09] What Drives Paul He simply wants to have freedom of choice - to do exactly what he wants to do whenever he wants to do it. And the only way to get there and achieve that pure freedom is through hard work. He is now working remotely and can travel freely. Notable Quotes:  [8:01] “There is no such thing as real estate if somebody doesn’t want to sell their house.” [21:23] “The guys that transact in high volume that keep their buyers continuously happy, they’re the ones that are getting the most value from the platform.” [27:29] “I want to be able to do exactly what I want to do whenever I want to do it. And the only thing that I’ve known to get me there is just brutally hard, hard work.” Resources Mentioned: BiggerPockets TwnSqr Paul Wakim: LinkedIn Reach out to Jeremy on LinkedIn and Instagram Connect with Paul on LinkedIn.

Apartment syndications are one way to substantially diversify your real estate portfolio and access the immense benefits that commercial real estate ownership can provide. It allows you to hold different assets in your portfolio without having to be on-site or hyper-familiar with the particular location of the investment. However, most people still do not understand how it works. In this episode, Jonathan Tonks joins us on a deep-dive into the syndication model — its benefits and how it helped him aid more people from a financial standpoint. Here are some power takeaways from today’s conversation: Geographic diversification is important in building a strong asset portfolio.Relationship building is critical for scaling.Stay involved with your partners throughout the entire syndication process.Operate with a service mentality. Episode Highlights: [11:11] Jonathan’s Investing Strategy His early mentality was to look at 20 to 50 assets available in his local market. However, his mentors taught him to aim for better growth markets and opportunities. This means buying higher price points and diversifying geographically. [13:28] Defining Syndication Syndication is an incredible way to gain substantial wealth and exposure to real estate. Simply said, syndication is partnering with individuals to purchase and acquire an asset that is not necessarily real estate. [17:25] Why You Need to Diversify If all your assets are centered in one city, you will be capped by the limits of that city. This is why it’s important to have assets in different areas. And this is where the syndication model comes in handy. [19:22] Two Types of Partners The syndication model has an active partnership team and a passive partnership team. The active group or the general partners (GPs) consists of everyone who is part of the acquisition. The passive group or limited partners (LPs) consists of the people who are contributing equity capital to help close the properties. [26:21] Jonathan’s Underlying Mindset in Syndication Jonathan believes in the service mentality. He wants to introduce syndication to people because he knows it can change both lives from a wealth perspective. It is less of the money aspect and more of building a relationship with his partners in the long term. Notable Quotes: [8:32] “Get your money working at a good number and continue to do that because over time that's going to build wealth. That's how you obtain that substantial number.” [8:54] “If it’s getting you in a better position than you otherwise would have been in, that’s a good house hack. That’s a good investment.” [31:09] “That's how I sort of approach everything every day: service abundance. And from there, we can all win. Right? There's no zero-sum game.” Resources Mentioned: Rich Dad, Poor Dad by Robert Kiyosaki The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges Provision Space jtonks@provisionspace.com Reach out to Jeremy on  LinkedIn and Instagram Connect with Jonathan on LinkedIn and @provisionspace

Embracing and enjoying the process is critical to achieving greatness, which applies in your everyday life and in real estate. Your circumstances will never be perfect, so you must learn to enjoy the discomfort in your pursuit of self-improvement and, ultimately, in your pursuit of greatness. Joe Kovacs, American Shot Put World Champion and Olympic Medalist, joins us in this episode. He shares his “pursuit of greatness” mentality that helps him power through challenges in order to constantly improve himself, both in his sport and in investing. He relates this way of thinking with how he approaches real estate investing. Here are some power takeaways from today’s conversation: Embracing delayed gratification is critical to achieve a massive payoff.Don’t expect things to be perfect, so become comfortable with being uncomfortable and adapting.Be ready to put in the work and grind if you want to achieve greatness in your life.Investing now in passive income that will benefit you later provides you with freedom of choice.Understand and appreciate the importance of calculating the principal paydown when looking at the benefit of real estate investing. Episode Highlights: [11:49] The Importance Of Seeing The World Joe and Ashley’s careers take them around the world. He believes going to different places will benefit his kids because it will help widen their perspectives. [14:09] Measuring your success against yourself Joe loves how the shot put has a definite measurement of success. For example, you could have two not-so-good teams playing basketball and still get a winner. In the shot put, you put yourself up against a constant, all-time measurement. [26:00] Embrace The Grind, Work, And Discomfort Joe emphasizes the need to embrace the discomfort in trying to improve yourself,as well as when dealing with real estate investing. Expecting everything to be perfect will get you nowhere. Instead, you must put in the work and trust the process. Familiarize yourself with the growth opportunities that discomfort can bring you. [38:29] The Exciting Part About Real Estate Nobody ever really computes the principal paydown for real estate. People just focus on investment returns or how much a house could sell for. Joe thinks this is one of the best parts of real estate. He can have other people pay his bills for him and generate net worth and value for his family. Notable Quotes:  [09:24] “I feel like there's gonna be all these little moments along the way that just kind of take your breath away and put things in perspective.” — Joe [15:52] “Kind of what I've learned from my sport is I'm constantly putting myself to a test.” — Joe [17:42] “If I didn't have all those losses to get to this point, I wouldn't have had the current win.” — Joe [26:55] “You have to be willing to get to that grind to get to the adaptation because just expecting to be better - that's a false game.” — Joe Resources Mentioned: Reach out to Joe: Website | Instagram | Twitter Reach out to Jeremy: Instagram | LinkedIn

Experiencing both poverty and wealth in one lifetime provides a broad perspective on life. It allows you to see the importance of showing up, taking advantage of opportunities, understanding the value of building wealth, and moving through life with a true sense of appreciation. It also shows you the power that empathy can have on you and others. Josh Nadzam, a professor at the University of Kentucky, former D-1 collegiate athlete, and founder and Board President of On the Move Art Studio, joins us on this episode. He shares his incredible journey from poverty and hopelessness to achieving extraordinary success, and the mindset that was required to make it happen. Here are some power takeaways from today’s conversation: The power of having a positive role model can be pivotal.Success requires extraordinary perseverance.Showing up can make all the difference.Investing even a small amount can go a long way. Episode Highlights: [06:14] Josh’s Early Years Josh had a rough childhood and grew up in a neighborhood riddled with crime, violence, and drugs.  His first eighteen years involved poverty and an unstable family situation, more so due to his father. He did well in school but got kicked out of class and got into fights. His basketball coach was one of the first positive male influences in his life. [14:05] Why Showing Up Is Crucial So many people show up every day working tirelessly, even without the assurance of results. Think of those trying to develop a cancer cure. Josh finds this inspirational. That’s why he wants to show up every day and grow old knowing he gave his all. [24:06] The Importance of Investments Growing up wasn’t easy for Josh, partly because of his family’s finances. With Jeremy’s help, he began making low-risk investments. He invested when he had a little extra cash  and saw it grow. That highlights how big of a help passive income is. [28:05] Empathy is Critical to Achieve Success Josh believes being poor takes much more work than most people realize, especially after experiencing it firsthand. He also saw it with how his mom had to work herself to the bone when he was younger just to make ends meet. Not only that, Josh calls on everyone not to judge those in poverty. Notable Quotes: [04:25] “I wanted to be the helping hand as much as I could to help people in similar situations like mine.” — Josh [09:31] “If you plot my trajectory, that was one of the points where, suddenly, things started to go up because it was really one of the first positive male influences I had to kind of stabilize me.” — Josh [14:14] “I don't know how to solve racism and homelessness and poverty, but I want to try my best to contribute to those solutions.” — Josh [14:30] “There are so many people who show up every day trying to find the cure for cancer, and they have no idea if we actually will in their lifetime, but they keep showing up and they keep testing things…[I]f they are showing up for that, we all have to show up” — Josh Resources Mentioned: On the Move Art Studio: Website | Facebook | Instagram Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones by James Clear Reach out to Josh:  Website | Facebook | Linkedin  Reach out to Jeremy: Instagram | Linkedin

What is your "why"? What is the one reason you get up in the morning and do the things you do? Our "why” is defined by our values and beliefs. In a way, it defines who you are. It's what drives you every day to keep going and is what gives you direction amidst the chaos life brings. That's why, in the end, your motivation is only as powerful as your "why." In this quick episode, your host, Jeremy Tomes, shares a piece of big family news and a special announcement! He also thanks you, all the listeners, for the continued support and gives some updates on the upcoming episodes. Here are some power takeaways from today’s conversation: Know your “why.”Reflect on what motivates you.Tune in for some amazing news on guest lineups for the upcoming episodes! Episode Highlights: [00:15] Special Announcement Jeremy and his wife are delivering their third child this week! He wants to make sure he's 100% present for his wife during this journey. [00:42] What’s Coming Up The podcast will be back next week with a great lineup of new  topics and guests. There's a lot more to come that will help give you the tools to continue your path toward financial freedom and building a passive income empire! [01:29] What’s Your “Why”? Your motivation is only as powerful as your “why”. What’s your “why”? For Jeremy, it’s family. Your “why” is defined by your values and beliefs. Notable Quotes:  [00:51] “Our focus has always been making sure that you have what you need—tool belt—you have the tools in your tool belt to continue your path towards financial freedom, building passive income, sort of breaking the golden handcuffs.” [01:30] “Your motivation is only as powerful as your ‘why.’” [1:48] “I want to know your “why” because that is going to drive whether or not this thing works out—you're always motivated as your ‘why.’” Resources Mentioned: Reach out to Jeremy on LinkedIn and Instagram

What’s the best way to add significant value to single-family properties? Some people might say that remodeling is the answer, but in reality, it’s all about the comparables. As a value investor, you need to be well-versed in comparing your property to others in your area and finding creative ways to add specific value to supercharge your returns. But it can be tough to determine what a property could be worth, and lacking that knowledge can mean you are leaving $$$ on the table. In a competitive market, it can be tough to find high upside value-add properties. But if you know how to compare property comps, you will be one step ahead of the game and in a much better position to spot hidden value. In this episode, Matt Graves shares his tips and strategies when it comes to “running” comps and finding value in single family investing! Here are some power takeaways from today’s conversation: Find comps in the same area.Assess price and quality of comps.Determine the value in the ugliest properties.Talk to realtors and property managers. Episode Highlights: [04:33] Doing Market Comparables Comps are sold houses in the same general area of the property you are looking at. When doing comps, stick to the same neighborhood and go off the same square footage of your property. Check the MLS to view new sales and comps. Ideally, you should look for comps that are within three to six months. [10:51] Seeing Value in a Property They purchased a 1300-square foot property. Their stager lived right next door to the property and they got information about the renovations and quality of their house. Thus, they knew what to do with the property they had bought. There is no better comp than the house right next to your property. [17:03] Assessing Rental Comps Use platforms to find out the price, area, and similar properties for rental comps, such as: RentometerZillowCraigslistFacebook MarketMLS Finishes come down to what kind of appliances and furniture you have in the property. For rentals, focus more on kitchens and bathrooms. Putting stainless steel could give you an edge. But do not overdo it and spend only what you need. [24:04] Connecting to the Right People If this is your first rental or flip, talk to a realtor to learn. Property managers are a good source as well, as they deal with properties on a daily basis. Notable Quotes:  [3:29] “You can’t really figure out if it’s a good deal or not if you don’t know what the property is going to be worth after you’ve done your business plan.” [10:22] “It’s all about seeing value in places that other people might not or other investors might not.” [15:36] “You have to sort of see opportunity when it presents itself to you. And a lot of times, that opportunity is not the same opportunity that other investors are seeing.” [23:09] “In some cases, there are fantastic comps. You have to sort of get really creative with the value of these properties and what you think they will be.” Resources Mentioned: Rentometer Reach out to Jeremy on LinkedIn and Instagram

If you have cash or assets just sitting on the sidelines not working hard for you, you need to consider private lending as a strategy. As a private lender, you can leverage your assets, be it cash, property, or relationships, to invest and grow your passive income and wealth. You can finally make the interest rates work for you by earning above-average interest rates without lifting a finger. With private lending, you become the bank. In this episode, I dive into the strategy of private lending, share my own experience as a borrower and how you can earn secure, profitable, and passive income as a private lender, and touch on some of the things you’ll need to watch out for when thinking about private lending. Here are some power takeaways from today’s conversation: Be the bank as a private lender.Receive above-average returns on your passive income.Protect your investment with collateral.Leverage your untapped assets to create multiple options you can use to invest.Leverage your relationships. Episode Highlights: [05:24] What is a Private Lender A private lender is a person who lends money to qualified real estate operators for an above-average rate of return. Make the rules and be the bank when you lend your money. This completely passive income can be structured to be tax-advantaged. [09:09] Private Lending as Passive Income Jeremy shares the story of how one of his friends put his assets to good use with private lending. His friend took out a home equity line of credit (HELOC) and used what he borrowed to grow his wealth and passive income. He was able to pay the debt service payments with cash earned from his private loan and reinvest the excess cash flow from his investment. [14:20] The Advantages of Private Lending Private lending can be a great strategy to add to your portfolio. Enjoy its rewards without having to lift a finger. Be smart and savvy about how you invest your money. Here are a few reasons why it’s a great opportunity for you: 1) Completely passive income; 2) Above average returns, 3) Secure your investment with collateral; 4) Price your risk by earning higher rates of return on riskier investments; 5) Short-term investment; and 6) Structure it the way you want. [20:02] Private Lending Options For Anyone With private lending, you can put your money to work. However, it’s not just for those with tons of cash. Leverage your assets and invest them at a higher interest rate. From properties to a Self-Directed IRA, you have a lot of options to invest with a private lending strategy. [25:02] What to Look Out For If you want to put your money to work with private lending, make sure you have proper legal documentation. Talk to your attorney and keep your investment protected with a security instrument and promissory note. Work with a qualified real estate operator who knows what they’re doing and is good at what they do. Notable Quotes:   [5:53] “You’re the banker and what’s cool about it is you make the rules.” [14:24] “The reason it’s such a cool strategy is obviously the passive nature of it. But there’s also another component. The security of it.” [20:25] “You’re burning money at this point. Inflation is tearing that money apart. Put that to work.” [28:42] “If you want to add substantial passive income, you have to start thinking about these sort of options.” Resources Mentioned: NuHomes Capital Management Reach out to Jeremy at LinkedIn & Instagram

The best way to predict the future is to create it. And that’s exactly what successful real estate investors do. Sitting around and waiting for things to happen will only get you so far—or nowhere at all. You have to be proactive and put in the work if you want to see results. By shifting your mindset and growing, you would be well on your way toward living the life you want. In this episode, Tyler shares his journey from corporate to real estate. He talks about how you could shift your mindset and harness the power of learning and growth to create a successful life and business. If you want to learn how to thrive in real estate and life, tune in to this episode! Here are some power takeaways from today’s conversation: Take action.Get clear on your intentions.Invest in learning and growth.Ask powerful questions.Find what inspires you. Episode Highlights: [09:25] Entering Real Estate Upon entering real estate, he began reading up, hiring coaches, and making connections. Most people are not taught about growing their assets and passive income. Real estate is a smart way to grow wealth. [13:27] Taking Action Don’t tolerate your circumstances. Moving from hope to action can cause discomfort. But discontent can be a gift as it leads to progress.  When Tyler switched to real estate, it was an uphill climb premised upon action—such as building relationships, learning, and growing. [18:51] Clarify Your Intentions Be clear about your intentions. When you have clear intentions, you attract what you want. Real estate could be a vehicle toward designing the life you want to live. Use your mind to create greater outcomes. Invest in your learning and growth. [25:48] How CF Capital Started CF Capital was built in January 2020. Currently, they have over 1000 units. Their goal is to add 4000 more units. They believe that the more they grow, the more they can make an impact. They seek to elevate the lives of investors and provide access to opportunities for others. [29:42] Asking Powerful Questions Most people have doubts and fears about investing. Ask yourself: How can you afford that?How can you get into that business?How can you take a step in that direction? Asking yourself powerful questions allows powerful opportunities to answer them. Enumerate the top 3 things that could inspire you. We all have infinite intelligence—tapping into it through our subconscious is powerful. Notable Quotes:  [07:53] “Ultimately, everything happens for us. It is a blessing if you look for it especially.” [22:22] “The business itself, this real estate business, can be a vehicle towards designing a life.” [26:58] “The more that we can grow, the more we have an opportunity to make an impact.” [31:07] “When we ask ourselves powerful questions, we find powerful opportunities to find those answers. And all it takes is a powerful question.” Resources Mentioned: CF Capital Elevate Rich Dad, Poor Dad by Robert Kiyosaki Think and Grow Rich by Napoleon Hill Tyler Chesser: LinkedIn

Most people do not accurately understand what it takes to start a successful business.  The sacrifice can be taxing.  In theory, you come up with a brilliant idea, put some money and a little effort into it, and wait for the money to start rolling in. Unfortunately, that’s almost never the case — in reality, many businesses struggle right out of the gate.  The successful business owners are students of their craft, and their determination during the challenging periods is what allows them to achieve great success. In this episode, Chris shares his journey in entrepreneurship, building his company, ProspHire, and investing in real estate. He talks about the challenges he experienced along the way and the priceless lessons he learned from his experiences. If you want to learn how to build business and personal success, tune in to this episode! Here are some power takeaways from today’s conversation: Go into each capitalist venture with both feet.Build strong relationships.Tell the world what you want to do.Hire the right people.Invest in real estate.Surround yourself with the right people. Episode Highlights: [05:47] Building ProspHire It’s challenging to sell professional services as they are intangible. Chris spent several years in Deloitte Consulting and gained a lot of experience. He had three failed businesses before he founded ProspHire. Whatever capitalist venture you go into, you need to go in with both feet. Businesses are built on strong relationships with colleagues and clients. Tell the world what you want to do and others will help you. [12:42] How to Create a Good Business Hire the right people then get out of their way. Finding someone competent allows them to replace you so you can work on the business instead of in it. [16:27] Getting Into Real Estate Chris finds real estate fun. He also realized the benefits of real estate: Produces cash flowProduces tremendous tax savingsBuilds wealth [22:49] Learning the Game You need to learn the game. Do your research. Surround yourself with the right people. If you hang with five wealthy people then you will be wealthy someday. Find people with similar goals that inspire you. [27:49] Advice for Aspiring Entrepreneurs and Investors Success is different for everyone. Chris considers three factors: Find something you love and are happy about.Find something that makes money.Find something you’re good at. Finding something where all those three factors overlap is success for Chris. Notable Quotes: [12:43] “I think the recipe for a good business is hiring the right people and getting out of their way.” [16:44] “You shouldn’t dabble in things that aren’t fun or aren’t interesting or you’re not good at.” Resources Mentioned: ProspHire Chris Miladinovich: LinkedIn About the Guest Chris Miladinovich is the Principal and Chief Operating Officer of ProspHire. With more than 16 years of experience in leading large-scale, complex business transformations, he is an expert at building strong teams of professionals. He is passionate about leaving organizations better than he found them. He serves as a Board Member of the Pittsburgh Entrepreneurs’ Organization. He is also a commercial pilot, certified flight instructor, real estate investor, and the Treasurer of the Condor Aero Club, Inc.

The journey to achieving your goals takes time and effort. It’s easy to let fears and worries control your decisions. I didn’t let fear stop me from making his dream lifestyle a reality. His mindset and experience have brought him financial freedom and the opportunities to achieve his goals. In this episode, Jeremy Tomes shares his journey in real estate. He talks about key lessons that played an important part in his success. Listen to his advice on setting goals, investing, and developing a growth and abundance mindset to create your own opportunities. If you want to know more about the mindset to achieve your goals, then tune in to this episode! Here are some power takeaways from today’s conversation: Overcome fear with control.Find clarity in your goals.Leverage your good reputation and expertise.Invest in people.Develop a service and abundance mindset.Become mindset-driven. Episode Highlights: [04:21] Jeremy’s Journey into Entrepreneurship Jeremy has always had an interest in entrepreneurship and real estate. Getting into law school, Jeremy continued to look into real estate. During his summer internships, he worked  as a finance attorney and gained experience. Despite this, he came to realize the work, stress and tough lifestyle of a professional. [11:32] Clarity From a Goal Jeremy went through the growing and learning process in his career. Fear of losing his job motivated him to grow. What he needed was clarity on his long-term goals in life. Jeremy realized he didn’t want to live a life without control. He didn’t want to lose his best years working and grinding. [14:24] Leveraging Your Professional Career You have the ability to leverage. Jeremy first invested and purchased a property with a great deal. But he found he was a terrible operator. Using strategy, he found how to use cash refinance and gain cash flow from his property. Now he has reached his goal with several businesses bringing him passive income. [22:11] Becoming Mindset Driven Put things in place so opportunities may come to you. Reflect on how to make your lifestyle and work more hyper-efficient. Develop an abundance mindset and understand the impact of passive income. When you invest in other people, they reciprocate. The service mentality and abundance mindset gives the right approach to create the lifestyle you want. Being mindset-driven Jeremy has grown his portfolio and created opportunities for financial freedom. Now his goal is to continue to grow and have a legacy. Notable Quotes:  [07:21] “I work crazy hard, more than happy doing it. But what I wanted was a hyper-efficient approach to work.” [13:17] “ I didn't think I wanted to look back on life and think I lived a life over which I had no control.“ [24:43] “We've been able to grow something substantial, just simply based on the fact that we had a service and abundance mentality.” [27:37] “When you've focused on a goal, it's all mindset-driven.” Resources Mentioned: Jeremy Tomes: LinkedIn The 4-Hour Work Week by Tim Ferris The Boon on Investing in Real Estate with No (and Low) Money Down By Brandon Turner

Do you want to succeed in real estate investing? You need to build and leverage relationships. It’s not enough to know a few people in the industry — you need to consistently develop relationships with those who can help you level-up your wealth, and who you can help do the same! Why? Because relationships are the key to getting involved in game-changing deals. In this episode, Rick Perez, Senior Vice President at loanDepot, joins us to share how he started investing and how he leverages his relationships to access high-level deals. Knowing the right people who can point you in the right direction could open many opportunities in the real estate industry. He discusses the importance of building connections and leveraging them to succeed in your industry. If you want to know how to build and leverage your relationships, then this episode is for you! Here are some power takeaways from today’s conversation: Find the growth potential.Decide on a niche.Learn from others in your industry.Expand your network.Build trust and rapport.Leverage your relationships. Episode Highlights: [02:31] Seeing the Growth Potential He found areas in San Francisco that were not expensive at the time but had growth potential, and so he invested in the Outer Richmond area, among other areas. Although they were relatively unknown at that time, currently, they are the places to be. [09:09] Hard Money Hard money is a type of financing that is leveraged out to a client that has the capital to use but does not want to use all their money quickly, and the client is seeking to avoid traditional financing. They also want to get a transaction done quickly. [10:26] Balancing Investments During his time in San Francisco, he worked on his business and investments at the same time. Currently, he is working in the mortgage origination side of loanDepot. Two of his specialties were condos in San Francisco and many of the high rises located in San Francisco. [16:59] Leveraging Relationships Expanding your network and meeting more people in the target industry is critical. And knowing what people like and are looking for allows you to leverage those relationships for mutual gain. Build trust and rapport. If you do that, people will see the value and credibility in your work and want to work with you. When you want something, you must fight and do whatever it takes. Sometimes all you need is the right people to point you in the right direction and extend a helping hand. Notable Quotes:   [13:53] “Everyone’s got a niche. Some people want doctors. Some people just work with investors. I work with condos.” [17:09] “The more people you reach, the more ability you get to understand what they do.“ [24:20] “You got to do whatever it takes to get that property.” [27:53] “You really get to know somebody when you sit down with them.” Resources Mentioned: Rick Perez: LinkedIn About Rick Rick Perez is the Senior VP at loanDepot. He is a mortgage professional that uses his knowledge and experience to help people make confident decisions about real estate financing. In his career, he has helped people navigate the mortgage process with high-quality service. His mission is to give clients the best possible loan experience.

As we go along life and reach milestones, we may sometimes forget how significant it is to keep giving back to our community. In this episode, Theresa Ward, real estate broker and entrepreneur, joins us to share how she got into impact investing. Real estate investing is not only a tool to build wealth, but it can also initiate genuine impact if we concentrate our efforts on bringing social good. She shares her advice on leveraging real estate investing to pay forward to people in her community. If you want to know how to create a social impact as a real estate investor, then this episode is for you! Here are some power takeaways from today’s conversation: Create social impact and earn profit through impact investing.Learn the value of team effort in managing a business.How remaining humble can compound your success and returns.Do not be afraid to ask questions.Use real estate to effect genuine change for yourself and others. Episode Highlights: [12:08] Impact Investing Impact investing is a financial strategy used to gain financial returns while creating social impact. Theresa is currently raising an impact fund, which will be used to purchase and renovate properties with the goal of effecting positive change in her local community. [19:14] Team Effort Theresa is currently managing more than 100 property flips and is still in the process of purchasing more. Team effort made this milestone possible. [21:48] The Benefits of Seeking Help from Others Be humble. It’s okay not to know about everything. What matters is that we know who to ask or where to get the answers to our questions. Most people are scared to ask questions for fear of looking stupid or having negative consequences. Instead of figuring everything out on our own, reach out to talented people and create relationships with people who know what they’re doing. By asking for guidance or advice, you can fast forward your success. [25:01] Theresa’s End Goal Real estate is an avenue to fulfill any kind of dream in life. Theresa has a dream of improving education in her local community by opening a charter high school by 2030. She’s making her dreams a reality through real estate and building relationships with people in the public and private sectors to help with youth access to resources and networks. [26:11] Social Impact As years pass into building a business, we can forget the bigger picture of what we’re doing. Wanting to be wealthier or work less are valid aspirations. But at the end of the day, we want to create a true social impact on our surroundings. We can affect genuine change using real estate. Notable Quote: [12:10] “Impact investing is really just investing money and getting a financial return, but you’re also doing social good.” [21:48] “Be humble and say, ‘Hey, I don’t know how to figure this out. I don’t know everything. But I know who to ask.’” [25:09] “So, real estate, I believe it’s an avenue to fulfill any dream in life.” Resources Mentioned: Good to Great by Jim Collins The Hedgehog Concept by Jim Collins New Local Realty Theresa Ward: LinkedIn @pghhomegirl @newlocalrealty]

Real estate investing can generate massive profits, but it takes a clear strategy before it becomes passive income. Your systems and operations need to be efficient. It’s also critical to avoid reinventing the wheel just because you think you can do something better. In this episode, John Wappler, President of Evergreen RE LLC, joins us to share his experience building his real estate portfolio and the suite of companies he uses to manage his growing real estate empire. He weighs in on the future of real estate investing and what metrics we should consider when considering property deals in today’s market. If you want to know how to build a real estate portfolio efficiently, then this episode is for you! Here are some power takeaways from today’s conversation: How John started his real estate journeyJohn’s lessons in building his property management and construction businesses to support his real estate portfolioWhy outsourcing is importantFuture trends in the real estate industryWhat essential metrics to consider when looking at a deal Episode Highlights: [06:40] Property Management Evergreen, among other things, manages scattered site single-family portfolios. At first, John did everything solo. But handling the portfolio alone was too much, so he built a management team. Once he creates a business plan for a deal, he and his team execute his vision from there. [14:45] Don’t Reinvent the Wheel There’s no reason to reinvent the wheel when somebody’s doing it well already. Reach out to experts or outsource to firms that have already built lasting relationships and can get the job done efficiently. What is your time worth? [16:25] Future of Real Estate Investing Many external factors have affected the multi-family and single-family markets. Despite this, John thinks the market is not that different from normal. He observes that value in real estate still exists, but these opportunities need to be created. The cap rates are still higher than interest rates. If the latter eclipses the former, things might change a little bit. [25:24] Metrics to Look Out For in a Deal Make sure you trust the sponsor. Dig into their track record and experience. The person running it has to be a good operator for the deal to be successful. Internal rate of return (IRR) is the best metric as it provides a neutral way to compare one project to another. It’s based on cash inflows and cash outflows. IRR is also independent of time. Looking into the cap rate is also recommended. Notable Quotes: [13:10] “Putting together the pro forma at the beginning of the deal, everything looks great on paper. It's about hitting the numbers. And, if you can't hit the numbers, then the whole thing was worthless, so you got to figure out a way to keep that on track.” [17:15] “My feel for the market actually is not much different than where we normally are. I still feel like the value that is there needs to be created.” [31:00] “The flexibility, family, all of that, and again, kind of generating that income growth stream off of real estate. Real estate gives you a unique ability to do that as opposed to some other professions.” Links to Resources: Evergreen Real Estate Website Evergreen RE LLC Website and Instagram John Wappler: LinkedIn

House flipping with live-in flips and house hacking are all the rage these days. By doing a live-in flip, you can take advantage of the housing market to make a significant profit, and if you do it right, you can do it TAX-FREE. By house hacking, you can live in your dream home expense-free while also increasing its value — or even using it to create sustainable profits. But before you try live-in flipping and house hacking, there are many things you need to know so that you can maximize its benefits. In this episode, Matt Graves, co-founder of NuHomes Capital Management, joins us to share his journey into real estate. He talks about his experience flipping houses, shares advice on how to flip and house hack to generate substantial wealth, and tells us how he earned over $200,000 TAX FREE on a live-in flip! If you want to find out how to do a live-in flip and house hack in a tax-advantaged way for maximum gain, then this episode is for you! Here are some power takeaways from today’s conversation: Learn from your experiences.Find the value in live-in flips.Weigh comfort and profitability.Use house hacking to live expense-free and create profit. Episode Highlights: [03:54] How Matt Entered Real Estate Matt grew up in Illinois, where he received a degree in law enforcement and worked as a private investigator. His wife encouraged his interest in real estate, and he later became the co-founder of NuHomes Capital Management. [12:53] The First Flip Matt's first flip was profitable both financially and educationally. Taking out a $45,000 HELOC loan and purchasing a house for $25,000, they renovated it for a year and then sold it for $85,000. [16:34] Doing Live-In Flips Matt and his wife later moved to Charlotte and lived in a house they bought for $265,000. However, the Charlotte housing market was rapidly increasing in value, so they renovated the house with $40,000 while living in it for two years. The house sold for over $500,000 dollars! Matt wanted to do a live-in flip for these three reasons: Low cash down on the actual loanEase of entry into real estate investingNo capital gains on your profits [22:00] Weighing Comfort Against Profit Run the idea of live-in flipping past your loved ones because it won’t be comfortable, but it can be lucrative. If you can put up with some difficulties, live-in flipping can be highly profitable! [25:31] The House Hack Matt and his wife found a duplex in a phenomenal location that he knew he could house hack — utilizing your personal residence to make a profit. They plan to live on one side and rent the other side out as an Airbnb. It will cover their mortgage and living expenses and they will essentially live there for free. Notable Quotes:  [16:40] “It’s very hard for me to find, you know, to actually buy something like a piece of real estate that doesn’t have some type of value add.” [18:50] “It’s always about trying to put as little money of your own as possible.” [21:10] “You figure out literally how to keep all of your profit. And then not only that, but then grow that further. It’s all about making your money work for you.” Links to Resources: nuhomes Matt Graves: Instagram Jeremy Tomes: LinkedIn

As an attorney, building passive income to achieve financial freedom doesn’t have to be as difficult as you might think. Consider this your official invitation to join Jeremy Tomes, host of the Big Law Capitalist Podcast, weekly to find out how to make your money work for you by passively investing in alternative investments such as commercial real estate. Allow him to show you how to gain passive income streams by debunking common investing myths, introducing you to investing experts and real estate investing strategies, and showing you not only what to do, but HOW to do it.