The Creative BRRRR Strategies Podcast

Joseph discussed the importance of due diligence in real estate investments, emphasizing the need to understand the risks and potential returns. He highlighted the significance of networking and partnerships, suggesting that these could lead to more opportunities and revenue streams. Joseph also stressed the importance of being licensed in various fields, such as real estate, mortgage, and title, to ensure a better understanding of the industry.He shared his experiences with clients and the importance of transparency and trust in business relationships. The team also discussed the importance of evaluating potential partners and defining roles within a partnership. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed the importance of accurately underwriting the total debt service coverage ratio (DSCR) for real estate investments. He emphasized the need to take a structured approach to project income and expenses, consistently evaluate different financing structures, and understand how to calculate projected net operating income. He also highlighted the significance of debt service costs, the magic number of 1.2 or better for DSCR, and the necessity to stress test the debt service. Joseph then used a real estate scenario in Boston to illustrate these concepts, emphasizing the importance of understanding market rents, appraised values, and management costs. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed the challenges and opportunities in the real estate market, particularly in the context of rising construction and maintenance costs, labor shortages, and evolving tenant expectations. He suggested that investors should focus on properties in relatively good condition and build a team of trusted contractors and suppliers to negotiate better rates.Joseph also highlighted the importance of technology in streamlining property management and maintenance operations. He expressed concerns about the potential impact of a market correction and the increasing popularity of suburban and rural settings.  He predicted significant changes in the real estate market over the next 24 to 36 months, driven by technological advancements and political shifts. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed strategies for identifying and evaluating potential deals in real estate investments. He emphasized the importance of understanding the credit scores of borrowers, the bank statements, and the subject address. He also highlighted the need to know whether it's a purchase or refinance, the asset type, and the purchase price.Joseph also stressed the importance of understanding the property income, expenses, and taxes, as well as the property's square footage and number of units. He advised to be hard on the numbers upfront and to have a good team to help with the process. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed the importance of maintaining rental properties. He emphasized the need for regular inspections, especially in relation to lead paint regulations in New Jersey. Joseph also highlighted the significance of proper maintenance, such as HVAC maintenance, and the importance of keeping properties updated to attract tenants.He noted that finishes, such as stainless steel appliances and granite countertops, can make a significant difference in attracting tenants. Joseph also stressed the importance of staying on top of local regulations and neighborhood trends to ensure the property remains competitive.He concluded by suggesting that leveraging technology and protective measures could be beneficial in attracting the right tenants. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed the importance of strategic decision-making for real estate professionals. He emphasized the significance of understanding the market environment and investment goals when deciding between real estate debt and equity. The main topic of the discussion was whether it was a better time to invest in real estate debt or equity.Joseph highlighted the importance of understanding interest rates, borrowing costs, cash-on-cash return, and debt service coverage ratio when considering investments. He suggested that higher interest rates could make real estate debt more suitable for those prioritizing income stability, while those seeking long-term appreciation might prefer real estate equity. Joseph also expressed his concerns about investing in multifamily syndications and suggested that passive income could be a more suitable option for those not heavily involved in the investment process. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed the concept of white label marketing in the asset-based lending industry. He explained that white labeling allows one company to offer services or products created by another company under its own brand, which is particularly useful for smaller or niche firms that lack the necessary infrastructure or resources. He highlighted the advantages of white label marketing, including cost efficiency, faster scaling, focusing on core business, and branding consistency. Joseph also noted the confusion among real estate professionals about what asset-based lending offers and emphasized the importance of focusing on core business. He concluded by mentioning the growth of Fintech and the increasing complexity of financial markets, which have led to the expansion of white label marketing in the asset-based lending space. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed the evolving investment trends, including the growth of midterm rentals, medical spaces, and remote worker accommodations. He highlighted concerns about deferred maintenance in short-term rentals and the potential of multifamily, build-to-rent, and asset-based lending investments. Joseph noted the increasing interest in sustainable buildings, senior housing, and mixed-use developments while questioning their sustainability.He suggested focusing on affordable housing through strategies like buy, rehab, rent, refinance, and repeat, emphasizing the role of technology and partnerships. Joseph also proposed exploring niche opportunities like midterm rentals, house hacking, and build-to-rent in suburban areas. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed the importance of mentorship and coaching in personal and professional development. He emphasized that mentorship is an informal process that cannot be forced and should be based on mutual respect and trust. Joseph also highlighted the importance of self-awareness, empathy, emotional regulation, decision-making, and problem-solving skills in coaching. He shared his experience of mentoring others, particularly in their professional careers, and how it has helped them achieve success. Joseph also differentiated between coaching and mentoring, stating that coaching is a paid service for a specific task, while mentoring is more about guiding someone into becoming a better person. He concluded by sharing his personal experience of how mentorship helped him regain his health and transform his mindset, leading to greater success in his life. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed his strategies for lead generation and maintaining relationships with existing clients. He emphasized the importance of consistency and investment in social media marketing, and shared his personal experiences of making mistakes in social media management. Joseph also highlighted the potential of LinkedIn for generating leads and the importance of having controls in place to bring value to a Facebook group.He expressed dissatisfaction with his current CRM, Constant Contact, and his intention to switch to a more suitable platform like Hubspot. Lastly, he discussed his strategy for building a strong online presence and generating leads, including using LinkedIn's connection limit to send out 200 connection requests every week and his use of Sales Navigator and Eva Boot to find and contact potential leads. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed the current state of the real estate market, noting a shift towards attracting investors and a decline in asking rents for new builds. He emphasized the importance of credit scores for potential investors and landlords. Joseph also highlighted the need for adaptability in the industry, focusing on affordable housing and commercial properties.He expressed concerns about the potential impact of political decisions on real estate investments and the labor market, and emphasized the importance of having cash and creating better revenue streams. Lastly, he discussed the challenges faced in the commercial real estate market due to an inflated and stale stock. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed the pros and cons of various real estate investment methods, including buying and holding, short-term rentals, and house flipping. He highlighted the need for careful consideration of property management, vacancies, and upfront costs. Joseph also mentioned the potential impact of market fluctuations and local regulations. He predicted that institutions, such as Blackrock, would increasingly own single-family homes due to market downturns and the increasing unaffordability of houses. He also noted the trend of prominent investors like Warren Buffett and Jamie Dimon selling stocks and putting cash on the sidelines, anticipating a market downturn. Joseph discussed his strategy for managing rental properties, particularly in the context of a potential recession. He explained how he intentionally priced his property slightly below market rate to attract a desirable tenant, in this case, someone running dispensaries. He believed this approach would provide him with a more stable and long-term tenant, despite potentially losing some income. Joseph also mentioned the possibility of renting to Section 8 tenants as another strategy for recession-proofing his rental properties. The conversation concluded with a discussion about the potential impact of the upcoming presidential election on the housing market and consumer confidence. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph, a long-time real estate investor and founder of a real estate technology startup, shared his insights on prospecting for deals. He emphasized the importance of understanding the market before investing and advised against hopping around markets based on fleeting opportunities. Joseph also stressed the need for a comprehensive marketing approach, suggesting the use of multiple social media channels and email marketing. He highlighted the importance of being where the potential customers are, and advised against focusing on just one channel.Joseph further stressed the need for follow-up after attending networking events and the importance of nurturing existing relationships. Joseph also highlighted the value of collaborating with local businesses, utilizing real estate farming, and leveraging referrals and direct mail campaigns. He encouraged the team to put in the effort required for successful prospecting, likening it to hand-to-hand combat.Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph emphasized the importance of community engagement in real estate development, highlighting the need for local residents and stakeholders to be involved in the planning and decision-making process. He stressed the benefits of this approach, such as creating developments that reflect the community's character and enhance the quality of life.Joseph also discussed the importance of branding and marketing in running a successful real estate investment business, recommending the book "Traction" for insights on building a brand. He emphasized the significance of community engagement, including developing a consistent visual identity, leveraging social media, and networking. Joseph concluded by encouraging the team to find their niche and understand their unique value proposition.He also announced his participation in the Maryland Association of Realtor Expo and upcoming presentations in New Jersey and Fort Lauderdale, Florida. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed strategies for building a scalable real estate business, emphasizing the importance of strategic planning, operational efficiency, and smart use of technology. He highlighted the need for defining and standardizing core business processes, leveraging technology and automation, building a strong team, developing a scalable acquisition strategy, and optimizing financial structuring. Joseph also mentioned the importance of data-driven decision making, branding, and marketing. Joseph emphasizes the importance of having a clear lending strategy when scaling a real estate portfolio. He shares experiences with conventional lenders' limitations and the need for alternative financing like DSCR. Joseph also advises considering data ownership and exportability when choosing property management software. He discusses maintaining a high email open rate to stay relevant and predicts further interest rate decreases due to job volatility. Joseph shares thoughts on the NAR settlement's impact, suggesting realtor associations may become obsolete as AI streamlines title processes. He predicts changes in Pennsylvania, requiring a realtor license for wholesaling, potentially reducing realtors using outdated marketing. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed the changing landscape of the real estate market, particularly in the build-to-rent sector. He noted that the market's shift from owner-occupied to non-owner-occupied properties could lead to changes in property finishes and costs. Joseph emphasized the importance of understanding site selection, market research, and demographic analysis in developing build-to-rent projects. He also highlighted the increasing availability of institutional financing for new construction and the potential for tax advantages. Joseph concluded by stressing the need for professional property management and tenant retention strategies in the build-to-rent sector. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph provided a comprehensive overview of the various factors that influence the real estate market. He discussed the impact of interest rates, inflation, asset appreciation, construction costs, employment and income levels, regional differences, supply and demand, and government policies. He also highlighted the potential effects of economic cycles, booms, and busts, as well as global influences, on the real estate market. Furthermore, he emphasized the importance of understanding these economic realities to help investors, buyers, and policymakers make informed decisions in the real estate market. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed the importance of networking in real estate success. He shared his recent experiences from a successful networking event he co-sponsored, emphasizing the value of building relationships with other professionals. Joseph highlighted the importance of leveraging social media platforms like LinkedIn and Facebook for networking, and offered valuable insights on how to maximize their potential. He also stressed the importance of sharing knowledge and providing value to one's network, and suggested tracking introductions to ensure reciprocation. He emphasized the importance of consistent communication, personalized follow-ups, and engaging in non-real estate events to build a diverse network. He also highlighted the value of developing a strong personal brand, participating in real estate associations or specialized groups, and using technology to one's advantage. Joseph also raised concerns about the staleness and regimented nature of some real estate associations, suggesting that smaller investor groups might be more modern and responsive to market changes. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Joseph discussed the current state of the real estate market, focusing on the increasing costs of ownership and the challenges in the insurance market. He then shifted the conversation to real estate basics, strategies, and tips, emphasizing the importance of understanding local markets, economic indicators, and neighborhoods. Joseph also stressed the significance of financing options, property type, and the buy and hold strategy. He further underscored the necessity of having a reliable property management company and considering legal aspects. Joseph also highlighted the impact of vacancy on insurance costs and recommended a thorough understanding of the numbers to make informed decisions and stay competitive in the market. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com

Following up from the previous episode: Joseph discussed the importance of a proper budget for construction loans in the investment real estate space. Contact Our Sponsors=================Perkitech - https://perkitech.com/Realty411 - https://realty411.com/MB Capital Solutions - https://mbcapitalsolutions.com/Joseph @ Lendmarq - https://www.linkedin.com/in/josephvscorese/Contact Us ========= Main Website - https://creativebrrrrstrategies.com/Podcast Site w/ All Links - https://thecreativebrrrrstrategiespodcast.buzzsprout.com/share/ Email - info@creativebrrrrstrategies.com