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028: The Power of Relationships

May 9, 2018

The power of relationships is truly everything. When I look back on my career, there are certain times where people have touched me, and moved me to do some things differently. Things that I didn’t even know that I could do. I want to do that for you, too.

I’m talking about raising OPM private money. I started this podcast journey almost two years—wanting to teach what I know and to give back. We are just now starting to understand who we are as a company, our message, how we reach our audience, my guests, my cash flow creators. I want you to be a cash flow creator, just like me, through legacy.

Topics on Today’s Episode:

  • Corey’s getting ready to launch and deliver what he thinks is going to be a truly amazing product, the Kahuna Boardroom
  • Utilize the power of your influence; you have conversations and a database of all your clients – leverage people that you already know
  • Quit practicing the fear of not having any more income come into your life: Is the money that I saved enough? How can I retire from my job early without any regrets? Real estate.
  • Find a partner to add their influence and credibility to your list of people
  • Spend your life learning; always learn about up-and-coming factors in real estate
  • Power of partnerships and power of relations: You have relationships with people, that’s why you’re in business
  • Connect with others at conferences and mastermind events
  • Look for capital for investments; focus more on raising capital and less on finding deals
  • Two things that we want in this world: Time and money
  • Kahuna Syndicate: Corey could pitch this mastermind and get $100,000 per person to join; but he decided not do it because it didn’t align with his goals
  • What relationships are important to you? Set aside things that you can’t do right now; maybe you can do them later, in a few years
  • Move forward and start making massive money; change your life, legacy, and wealth by flipping the switch and pivoting to multifamily real estate
  • Stability is lacking in the market; actually pay your investors
  • Kahuna Cash Flow Calculator offers training on how to underwrite multifamily deals
  • When we raise capital, we never ask people for their money; we just ask them who they know

Links and Resources Mentioned:

Quotes:

“We are just now starting to understand who we are as a company, our message, how we reach our audience, my guests, my cash flow creators.” Corey Peterson

“The power of relationships is truly everything.” Corey Peterson

“Life is simple if you want to make it simple. Don’t make it hard. That sometimes is the toughest part of working with these real smart people.” Corey Peterson

“When we look at relationships, relationships are everything. If relationships are everything, it’s important in your business, and it’s important in your life.” Corey Peterson

Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

027: Strategies for Building Capital

May 1, 2018

Let’s talk about money. How do you build relationships with people and capital? Raising capital is a lot like the game of chess. You want to build a strategic plan of what you want to do.

Today, my guest is Dick Naas, a real estate investor and fabulous singer, storyteller, and joke teller! Corey and Dick share how they met and built a relationship around investing in buying and flipping properties.

Topics on Today’s Episode:

  • Corey and Dick are Rotary members, who focus on service above self and can be trusted
  • Shifting from buying and flipping to renting
  • Reporting that Dick receives from Corey is transparent, informative, and accurate
  • Benefits of a consistent paycheck
  • B and C properties offer consistency
  • Lionsgate deal: Dick goes from being an early investor to seller to a new deal
  • Not all deals are successful, but Corey operates by finding out what people expect and then giving them that and that much more
  • Managing assets, income, and money as you near retirement
  • Retire faster, sooner, and with more money by investing in a long-term relationship with multifamily real estate

Links and Resources Mentioned:

Quotes:

“Raising capital is a lot like chess. You want to be strategic…but more than that, raising capital is really about relationships.” Corey Peterson

“You don’t join clubs to go fnd money. You join because you really want to serve.” Corey Peterson

“It allows me to plan my finances better. Even if the economy takes a slide, the rent checks keep coming in.” Dick Naas

“In real estate, you don’t make the money on the sale, you make it on the purchase.” Dick Naas

Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

026: Syndication Law in the Multifamily World

Apr 24, 2018

Legal fees can cost you some money. But it costs even more if you wait to get a lawyer until you are in trouble, maybe because you don’t know about real estate processes and paperwork. Today, my guest is Jillian Sidoti, a syndication lawyer. A syndication is when people are brought together to own an asset, such as a property, that’s brought forth by a sponsor, which provides property disclosures.

Previously, Jillian was in the music industry and barely getting by. She got sick and tired of being poor, so she went back to law school. But even she couldn’t stand lawyers. So, she got into the real estate industry thanks to her finance degree. While trying to find investors, she met her partner to create Crowdfunding Lawyers.

Topics on Today’s Episode:

  • What is a syndication and why do you need one?
  • Need to disclose everything – all pertinent information to save yourself from heartache and being sued
  • When you make money, you will have more than one syndication – and lawyers love to follow the money
  • Hire a securities or syndication lawyer to properly prepare documentation
  • What happens if you do not close on a property? Will lawyer amend documents?
  • 506(b) and 506(c) offerings to raise capital
  • Investor qualification form and verification for accreditation
  • No one is going to steal your ideas, instead you are building trust; always be a student and a teacher
  • Get into the habit of vetting investors as much as they vet you
  • Be responsible for your investors and their money, but don’t put them on a pedestal
  • Where to raise money and capital – go to galas!
  • Be cognisant – don’t talk too much or be creepy; be genuinely interested in people
  • Do not pay more money than you need to pay to your investors

Links and Resources Mentioned:

Quotes:

“Legal fees can sometimes cost you some money, but it costs you more to call me later when you’re getting into trouble.” – Jillian Sidoti

“A syndication is bringing a group of people together to own an asset that’s brought forth by a sponsor.” – Jillian Sidoti

“Every time I give one of my investors the packet…this is going to be a document. It’s going to be thick. It’s going to scare the living crap out of you.” – Corey Peterson

Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

025: Multifamily Investing

Apr 19, 2018

Many people get into real estate because they need to make money quickly. The power of real estate is that it can make a tremendous difference. It provides an avenue for people to get a return on their investment.

Today, my guest is Randy Lawrence, who drops some truth bombs about multifamily investing. Randy has been in real estate for about 15 years and has structured his business around his belief and faith in God.

Topics on Today’s Episode:

  • Money available that becomes a source of capital
  • What provides a stream of income
  • Multifamily real estate is fixed security of the real asset
  • Single-family vs. multifamily opportunities and limitations
  • People need help to know where to invest their money
  • How to raise capital by presenting an opportunity for someone to get a return
  • Friends and Family: It’s about who they know with money
  • Establish relationships; focus on multifamily real estate to scale, build, and grow
  • Randy’s business recently went through a tenant profile improvement process; develop new procedures, policies, and improvements
  • Be strategic and have a plan; learn from someone with experience
  • Generate a better quality of life for tenants; investors’ lives are changed because of the return they receive
  • Create a culture that sets the tone for your staff
  • Engage in the process; focus on helping people rather than making money
  • Where to Find Money: Go to a charity you believe in; it happens naturally
  • Take on a leadership role to serve and help others
  • It’s not about the money; to be in business, you’ve got to make money by delivering value
  • Find deals through networking and making connections
  • Quality teams and partnerships to be successful; it’s all about relationships
  • Randy’s goal is to close three, C-class complexes per year for the next five years
  • Randy wants to develop a legacy business and empower investors
  • Easy money isn’t the best for the long haul; practice discipline and perseverance
  • Focus on what you know and what you gain from; you don’t need to be sexy to be successful
  • Learn how multifamily can fit into your strategy; develop the right relationships

Links and Resources Mentioned:

Quotes:

“Realistically, looking at the power of what real estate can do…the real estate market, in done properly…really can make a tremendous difference.” Randy Lawrence

“There is so much money out there…and they call it cashflow for a reason. It flows out of the people that can’t handle it…and flows into people that can.” Corey Peterson

“Here’s the opportunity that we have…that’s fishing. You throw out some bait, and the right people are attracted to your bait.” Corey Peterson

Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

024: The Ultimate Resource is Resourcefulness

Apr 3, 2018

Most people don’t get involved with real estate because they don’t have the resources needed, including time, money, and knowledge. But all you need is to be resourceful. Today, my guest is Tim Bratz, who shares how he started as a realtor and now owns lots of multi-family properties.

As a realtor, Tim realized that’s not where the money is at. Luckily for Tim, the market crashed and he bought his first investment property nine years ago. He didn’t know what he was doing, but quickly made $15,000 when he sold it.

Topics on Today’s Episode:

  • Network and build relationships with active investors to build credibility.
  • Even though you are doing 100{c35051b4442fafb55b74468ce151e373ddcc3f5b6c0bbc4cc62a5de9551ee3ef} of the work, be willing to initially give up 50-70{c35051b4442fafb55b74468ce151e373ddcc3f5b6c0bbc4cc62a5de9551ee3ef} of the deals to build up a resume and get financing from banks.
  • Give, give, give…to receive just a little bit.
  • People want to pick your brain, so share your knowledge and experience if they are willing to use the information you give them.
  • To put money together and get deals, use someone else’s cash.
  • When you partner with people, not everyone will be happy all the time. You need to let them go sometimes.
  • Become a good steward of capital to show that you know how to manage and operate real estate. People will be knocking down your door to give you money.
  • Learn how to manage assets properly to give people a consistent return and easily raise capital.
  • Despite being able to get money, remain disciplined and conservative when it comes to deals. Don’t deploy capital just because you have it.
  • Set goals and identify what worked and what didn’t.
  • ELF Business = Easy, lucrative, and fun.
  • Wealth Process: You can make a living flipping and wholesaling homes, but not be wealthy beyond measure. However, cash flow is king thanks to multi-family homes!
  • Success does not happen overnight. You won’t get rich quick, but you will get rich. You have to put in a lot of work every day.
  • No matter how old you are or where you are in life, the key to success is to not quit. Eventually, you will succeed.
  • Once you have a base level of passive income coming in, how can you go to the next level? Invest in different classes of real estate.
  • Do you love to travel and have vacation homes all over the world? How do you get other people to pay for your lifestyle? Don’t invest in depreciating assets, grow your assets and net worth via cash flowing options.
  • Figure out your long-term goals. Do you want to make a lot of money flipping houses or make a passive-residual income?
  • Understand the various aspects of deals – from finances to operations. You don’t have to do everything, but know how to become passive.
  • Tim uses a debt position and secures it with the asset.    

Links and Resources Mentioned:

Quotes:

“If you want to make money, go into real estate.” Tim Bratz

“What it takes in this business is out-of-the-box thinking.” Corey Peterson

“A lot of people don’t get involved in real estate because they don’t think they have the resources…the only resource that you need is the ultimate resource, which is resourcefulness.” Tim Bratz

Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.