Investor Cheat Code Podcast with Mike Simmons

Today's Guest: Alex Jarbo

Alex is the founder and CEO of Sargon Investments and has an MBA with a concentration in real estate development. He’s also a former Marine, a regular contributor to some of the world's top real estate investing podcasts, and the host of the YouTube channel Alex Builds, where he teaches how to build and manage short-term rentals properly. His company, Sargon Investments, is a short-term rental resort development firm whose mission is to provide above-average, double-digit returns to our accredited investors.

Highlights From The Show:

We begin the episode with Alex sharing his background story and how he ended up in real estate. Alex shares that he grew up in Michigan, and when he turned 18 and graduated from high school, he immediately went to the marine corps and served 4 ½ years. In his final year, Alex felt he wanted to do something more and started reading books on every topic in the business world, and real estate caught his eye. He loved the control and the appreciation of assets in the space. Alex joined a flipping mentorship group while he was still in the marine corps and realized long-term wealth was tied to short-term rentals. He left the military, got his real estate license, and started looking for short-term rentals, but he quickly realized that everything was way out of his price range, and if it was within his price range, it wouldn’t have done well. After looking for eight months, Alex decided to build his first property, a ground-up investment he still owns today. 

We then talk about market selection and where you should be investing. Alex shares that he doesn’t recommend investing in natural markets or moving to a brand-new city. According to him, you should start investing in your backyard, and the strategy works. Start by looking for an area where people like taking extended weekend vacations in your market. There are hundreds of these pocket markets throughout the country that nobody knows outside the people that live an hour or two away. Real estate will not only be cheaper but also have a built-in cash flow in those markets. Alex shares that right now, his focus is on doing 6 to 12 cabin cluster developments in the travel city market. He chooses how the property looks based on his research on Pinterest and Instagram, but the most effective way to do it is to search the city you’re considering on the Airbnb platform. The top operators will pop up on the home page, and you can model them.

Next, we talk about raising money and how a regular investor getting into real estate can finance their deals. Alex shares that there was almost no short-term rental financing when he started investing. He used a second home development loan, and you can still use it. The down payment requirements for this type of loan are very low. The second step is to talk to your local creditors. Don’t do it online, don’t call them, and don’t email them - walk in there. If you need financing, Alex recommends three lending institutions: VCU Lending, Center Street Lending, and Host Financials for short-term rentals. Based on raising capital, Alex shares that there is a difference between raising capital with and without experience. He recommends starting with people in your circle, such as friends and family, if you are just starting out. 

We then discuss Alex’s go-to high-level strategies for evaluating properties and opportunities in the short-term rental space. According to Alex, unique properties are way harder to evaluate, but there are strategies to assist you. Alex shares that prior to COVID, the occupancy break-even rate was 35%, and now it ranges between 42-45%. For him, he underwrites at 65% occupancy and does influencer marketing to increase occupancy, and all his properties are at 90%+ occupancy in both low season and high season. According to Alex, they just started using Stayamo for influencer marketing, and the results are ridiculous.  Before looking for people in Stayamo, Alex had influencers coming to him, showing him their engagement rate and asking him whether they could stay on his property, and his answer was yes.  

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Alex Jardo and get valuable information on building unique short-term rentals!

Notable Quotes:

“You are not going to be 100%, but the number one thing is to be incredibly conservative.”

• Alex Jarbo 

“If you’ve developed a unique property, it will become an attraction to the guests and during the high season, the market becomes the attraction.”

• Alex Jarbo 

“Just because interest rates are hiking on the commercial side, don’t let that scare you.“

• Alex Jarbo 

Thank You for Listening!

• Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

Help Out the Show:

• Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one.
• Subscribe on iTunes.

Resources and Links From Today's Show:

Sargon Investments

Stayamo

Alex on LinkedIn 

Alex on Instagram

Alex on YouTube 

More Resources From Mike:

• Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
• WINNING DIRECT MAIL - How to CRUSH IT with direct mail!
• 7 Figure Investor Video Course - Scale your business to 7 figures. I'll show you how!
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Highlights From The Show:

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Live Question and Answer sessions. For those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more!

This presentation is the live Q&A that I did the week of December 28th and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!

Notable Quotes:

“Over the years I have tried to make the MLS an efficient marketing strategy with good ROI, and it never really has been.”

“It is very hard to pull off a good wholesale deal on the MLS.”

“With the house prices going down, there might be some sellers getting antsy about not being able to sell.”

“If I were a house flipper I would have a standard MLS agent marketing strategy, no doubt about it.”

“Be careful when you reach out to realtors. They get calls from investors all the time. Find ways to insert yourself in their business in a helpful way, in a way that adds value for them.”

“Investors often make the mistake of just saying, ‘Gimme, gimme, gimme!’”

“If the deal is marginal and they start trying to heap on all sorts of contingencies, I just tell them to go pound sand.”

“What the lawyers are trying to do is remove the possibility that we won’t buy the house.”

“Why not learn fast?”

Thank You for Listening!

• Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

Help Out the Show:

• Leave an honest review on iTunes. Your ratings and reviews really help and I read each one.
• Subscribe on iTunes.

More Resources From Mike:

• Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
• WINNING DIRECT MAIL - How to CRUSH IT with direct mail!
• 7 Figure Investor Video Course - Scale your business to 7 figures. I'll show you how!

Today's Guest: Jim Pfeifer

Jim Pfeifer is a Passive Real Estate Investor and Podcast Host. He focuses on helping like-minded individuals invest in real assets and financial strategies to accumulate sustainable wealth, minimize tax, and protect their assets while growing their wealth. Jim's goal is to constantly learn new ways to build wealth and share that information with investors to help them become better and profit from their deals.

Highlights From The Show:

We begin the episode with Jim sharing his background story and how he ended up in real estate. Jim shares he is an educator and stock investor turned into a passive investor. Jim started in the corporate world and quickly developed himself into a mentor. He then became a teacher and taught finance and accounting, but later transitioned to being a financial adviser. At the same time, he became an accidental landlord after buying a house and being unable to sell his current house because of the recession in 2008. Having another income stream as a landlord and figuring out that paper assets were not a great strategy inspired Jim into active investing. According to him, there is a difference between investing and speculation. Investing, whether active or passive, is buying real assets with a current benefit in the form of cash flow and upside appreciation, while speculation is buying stocks and mutual funds and hoping they increase in value to sell them someday at a higher price. 

We then talk about how the Left Field Investors community and what they do. Jim shares that they are just a community focused on providing education and networking opportunities for people interested in becoming financially free through investing primarily in syndication deals. He shares that the community has everything, including people who are not accredited and looking to get into their first deal, to people who are accredited or in a 100th deal and have hundreds of dollars in passive income a month. According to Jim, to be a successful real estate syndication investor, you need a community and a network so that you can learn, leverage other people's expertise, find great sponsors and deals, and become a better investor. It’s hard to do it by yourself.    

Next, we talk about the process of finding great sponsors as a beginner. Jim shares that his journey had three stages. When he heard about passive investing, the first thing Jim did was attend a syndication conference. In the seminar, he met some syndicators, and he figured out that if they were there, they were great, and he invested in some of the deals using his 401k. According to Jim, that was very ineffective. Even though not all the deals went sour, right now, he would not invest in such deals. The next step he took was to seek knowledge. He started listening to podcasts, reading books, and reaching out to syndicators from podcasts. This was not a bad strategy, but he didn’t know if they were great podcast guests, marketers, or operators. Most of the deals he did in this stage were good, but there are better ways. Jim shares that now, the only way he will invest with new sponsors is if they are introduced to him by someone he knows, likes, and trusts in the community and is already investing with them. Jim still does all the due diligence he would do for a sponsor he doesn’t know, but he’s often 100 steps ahead by starting from a place of trust.

Lastly, we talk about speculating vs. investing and the returns to expect if you want to get involved in syndications. Jim shares that most people are speculating, but they think they are investing. Speculating is buying a piece of paper and hoping it goes up in value while investing is based on investing in real assets with current benefits in the form of cash flow. He also shares that the best range for returns from syndication investments with all factors carved in is 6-10% cash returns annually, which can enable you to double your money every 5 to 10 years.

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Jim Pfeifer and get valuable information on syndication investing and why a community is so important!

Notable Quotes:

“Whether you’re an active or passive investor, you are buying a real asset that has a current benefit in the form of cash flow and upside appreciation.”

• Jim Pfeifer 

“To be a successful real estate syndication investor, you need a community and a network so that you can learn, leverage other people's expertise, and find great sponsors and deals.”

• Jim Pfeifer 

“You should feel no pressure to invest, and if you’re getting pressure from an operator, run.”

• Jim Pfeifer 

“You have to ensure you’re getting into the right deal because you cannot get out of it. If you get into a bad stock, you can sell it, but you're stuck when you get into bad syndication.”

• Jim Pfeifer 

Thank You for Listening!

• Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

Help Out the Show:

• Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one.
• Subscribe on iTunes.

Resources and Links From Today's Show:

Left Field Investors 

Jim on LinkedIn 

Jim on Instagram

Jim on Facebook 

More Resources From Mike:

• Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
• WINNING DIRECT MAIL - How to CRUSH IT with direct mail!
• 7 Figure Investor Video Course - Scale your business to 7 figures. I'll show you how!

Highlights From The Show:

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Live Question and Answer sessions. For those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more!

This presentation is the live Q&A that I did the week of December 21st and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!

Notable Quotes:

“That is a lot of learning, making mistakes, and figuring things out.”

“Getting leads in real estate is always going to be one of the highest priority things that you do.”

“When you say cash flow you are opening that up to a lot of possibilities. There are a lot of variables.”

“The problem is those lower cost homes that might cash flow a lot as a long-term rental are likely not in a good neighborhood so the appreciation potential is zilch.”

“Traditionally, a more expensive house would not cash flow well. The change in that is the rise in popularity of short-term rentals or Airbnbs.”

“You get them to your number by creating rapport, building trust, solving their problem, then telling them what you can pay.”

“You never tell them that. That is not the way to approach that at all. You cannot promise something you possibly cannot deliver.”

“If you make that the expectation, you are a good guy and no one is mad at you.”

“Never, never, never say, ‘I am not the buyer.’”

“Don’t say anything that is not true."

Thank You for Listening!

• Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

Help Out the Show:

• Leave an honest review on iTunes. Your ratings and reviews really help and I read each one.
• Subscribe on iTunes.

More Resources From Mike:

• Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
• WINNING DIRECT MAIL - How to CRUSH IT with direct mail!
• 7 Figure Investor Video Course - Scale your business to 7 figures. I'll show you how!

Today's Guest: Sief Khafagi

Sief is the CEO and Co-founder of Techvestor, a company that acquires and operates STRs (short-term rentals) through data-driven and tech-enabled short-term rental funds. Techvestor allows you to invest passively in STRs through a done-for-you strategy that enables you to diversify your short-term rental portfolio. Sief has worked with HNWI, private equity partners, family offices, and institutions to start, scale, and grow portfolios in 15+ markets. Previously, he founded Scoutpads, whose mission was helping thousands of tech employees diversify into real estate after spending nearly five years as a Facebook engineer.

Highlights From The Show:

We begin the episode with Sief sharing his background story and what he does in the short-term rental space. He shares that he is the CEO and Co-founder of Techvestor. One of the first data-driven and tech-enabled short-term rental funds that allow investors to invest passively into this asset class without doing all the work that usually comes with it. This means that there is no finding it, no designing, no furnishing it, no running it, and no operating it. They provide a completely passive experience and are running about 20 million dollars in short-term rental funds. He shares that all of these are for passive investors who are in 9 different markets, and they hit the ground with great performance aggregate even in this inflationary environment. According to Sief, short-term rentals are the next great asset class to be institutionalized because people will chase you for mobility and a flexible lifestyle. 

We then discuss Sief's investment strategy and why he believes short-term rentals are here to stay. Sief shares that short-term and vacation rentals have been around for decades, and the trend is here to stay. He also shares that they believe in human behaviors and that people want local experiences. For them, they are predominantly focusing on 4-bedroom or larger homes. People traveling in groups tend to choose Airbnb over hotels because they are more economical, provide a great experience and enable them to stay together, which is an integral part of being in a group setting. Sief also explains that they explore different options and use a data-driven perspective to find what is in demand and low-risk opportunities in different markets. They are institutionalizing the asset class they are offering, enabling them to command and offer various features that others don’t provide by either choice or lack of knowledge.

Next, we talk about Sief's strategy of finding properties and how he drives better occupancy in his short-term rentals. Sief shares that Airbnb is a product, and there is a user journey to how everything works. He explains that Airbnb is like Google, and for you to show up on the 1st, 2nd, or 3rd page, you have to rank, and there are strategies to ranking, such as photo quality, description, tenure, and reviews. According to him, ranking is arguably the most important thing because people rarely go to page 10 of the Airbnb platform. For them, they optimize the journey to give them the most optimal chance to rank and profit from their clientele’s journey. They use models for their property depending on the demand of the different types of clientele in the market. Sief also shares that they find properties through MLS and bring key people into their team to give them key advantages and access. They also do mailing for off-market properties because they know their exact buy box, which they refer to as their golden circle. They know what exactly they want to buy, the type of property, where it’s located, and what they are willing to pay for. 

We then discuss Sief 's investment model, the Done For You investment model, and how it works. Sief shares that if anyone wants to have their own short-term rental, they charge $65,000 for all the services. They find the property, design, furnish, run, and operate it. This is their standard rate, but if you want to purchase 15 or 20 of them, there is a negotiation level that happens at scale. According to Sief, everything else is passive and hands-off for you, and he recommends this option to anyone who wants to REI for tax purposes, wants to get their hands off and use it for their family. Their fund is a better option, and most investors pick it because it’s passive, and all the stuff gets handled for you without you having to do anything for yourself. Sief shares that the most significant rule is diversification. 

Lastly, we talk about the software that you can rely on to analyze properties that are available to the public. Sief shares that for him, he would use all of them, including AirDNA, which provides you access to data that gives an idea of what that property may do. He shares that one of his favorites, which is more manual, is signing up for a rank race. It will allow you to understand where other properties rank and, most importantly, their prices, how they look, and occupancy. He recommends going to the Airbnb platform and finding your closest 5 to 10 competitors with properties that look, feel, and are the same size as yours. Look at their dynamic pricing and create your analysis to understand how the properties work in the current market. Sief also encourages you to use data going back to 2018 (pre-pandemic) and compare it to understand the trends, the history of where you’re buying, and your risks to close profitable deals. 

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Sief Khafagi and get valuable information on how to invest in short-term rental!

Notable Quotes:

“Short-term rentals are the next great asset class to be institutionalized because people are chasing mobility and flexible lifestyles.”

•  Sief Khafagi

“The Airbnb Platform is like Google, and for you to show up on the 1st, 2nd or 3rd page you’ve to rank, and there are strategies for ranking such as photo quality, description, tenure, and reviews.“

•  Sief Khafagi

“The Airbnb platform is cost-effective compared to starting, launching, and running your own brand and traffic. A lot of investors underestimate the efforts of building a brand successfully and at a reasonable scale versus going to a marketplace that exists.”

• Sief Khafagi

Thank You for Listening!

• Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

Help Out the Show:

• Leave an honest review on iTunes. Your ratings and reviews really help, and I read each

Highlights From The Show:

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Live Question and Answer sessions. For those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more!

This presentation is the live Q&A that I did the week of December 14th and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!

Notable Quotes:

“My first instinct is to say, ‘Don’t quit college.’”

“You get the basics and you will improve and get better over time.”

“Don’t have a project that is 98% complete and chose not to finish.”

“You can flip houses AND go to college at the same time.”

“When you are in your 20s, you can’t really screw up too badly because you are just so early on in the game.”

“College teaches you how to start and complete something and that is a very valuable lesson.”

“You have already gotten over the biggest hurdle of all - getting started.”

“If you are not seeing success with mailers, go grab my free course Winning Direct Mail.”

“My answer to questions like this is always, ‘Give it a try!’”

“Door knocking is very hard to scale.”

“Some marketing channels are going to net smaller results and therefore may be a supplemental strategy.”

Thank You for Listening!

• Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

Help Out the Show:

• Leave an honest review on iTunes. Your ratings and reviews really help and I read each one.
• Subscribe on iTunes.

More Resources From Mike:

• Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
• WINNING DIRECT MAIL - How to CRUSH IT with direct mail!
• 7 Figure Investor Video Course - Scale your business to 7 figures. I'll show you how!

Today's Guest: Andy McFarland

Andy is not only a successful investor and mentor but also a close personal friend. He and I have traveled together as members of the 7 Figure Flipping Mastermind, and his stellar character and willingness to encourage others to succeed have aided him in his journey to becoming a self-made expert in the world of real estate.

Highlights From The Show: 

I first asked Andy to talk about how the world of investing has changed in the last 5 years, the strategies he’s implemented, and the lessons he’s learned. First, and most importantly, Andy emphasizes the necessity of authenticity within the business. This applies not only to your customers, but your employees, or as Andy calls them, his team. We discuss the (understandable) tendencies of newcomers who are looking for that hidden gem or technique that is sure to help them rise to the top, forgetting that being genuine is what really ensures success.

Andy talks about the dangers of cramming sales techniques down the throats of your customers and how that always ends in disaster.

Of course, profits matter. Sales matter. But people matter much, much more.

In this business, it’s not uncommon to have high turnover rates. Andy and I agreed that our teams look much different than they did initially, and more often than not, for good reason. People tend to move on to new avenues and adventures, and what was right for them at a previous time may not be in the future. Andy’s business and team have both changed in big ways since their origin, and he’s grateful for the lives he’s been able to touch every step of the way. 

Andy also advises leaders to never forget to stay current. He told the story of his struggle to push through a period of frustration with his team, who wasn’t implementing certain strategies he was advising. They were never unreceptive, but he noticed that they weren’t attempting the encouraged methods. In hopes of understanding their resistance, he went back into the field himself and discovered quickly that the game had changed. His employees had adapted to the new industry, and he had failed to keep up. When he began reconnecting with sellers, he began to feel the benefits of this human element for the first time in a long time.

We then dove deep into the blessings of what we do, and why we do it. As a man of faith, Andy believes that God has used his position in this business to meet true, human needs. He recalled an incident of a seller who was in deep, financial decline. Some investors, Andy says, may have been tempted to walk away from the deal, fearful that the investment wouldn’t be worth their while. Others may have even taken advantage of this man’s desperation. However, Andy chose to show grace and compassion. He listened to the man and worked alongside him to make a plan to help him pick himself up. Though the money made from this investment wouldn’t be outrageous, humanity took precedence and Andy was able to bless this family in a way that only he could, simply because he took the time to listen.

We ended the discussion on the issue of comparison. Many steps into this business with the hope of having more time for what matters to them: time with loved ones, things you enjoy, etc. However, they fall into the never-ending circle of wanting more simply for the sake of having more. When people have a 1 million dollar company, they then want a 10 million dollar company, and then a 100 million dollar company, and so on. Making more money almost always leads to spending more money if you’re not wise, and won’t bring satisfaction like knowing that you live a life loving others well and impacting them positively.

Andy is the guy in our 7 Figure Flipping Mastermind group that we call “the rabbit” because people are always chasing after him for the big secret of success, or simply because his realness is so attractive. Give this episode a listen to hear his best-advised tactic, which really isn’t a tactic at all. 

For more information on our 7 Figure Flipping Mastermind group, feel free to contact me and I’ll make sure to get you more information.

Notable Quotes:

“What have I learned over the years? The people matter. The people matter in all aspects of the business. Your business is your people.”

• Andy McFarland

“What I want most is to have an impact on people’s lives. Not a thousand people’s lives. I want to have an impact on one person’s life, one at a time. And if that happens a thousand times great.

• Andy McFarland

“There are few people I know in the industry who truly do right by people intentionally and for no gain… or leverage. I think people need to hear that.”

• Mike Simmons

“I’m not at all saying don’t try to make money and grow your business, because you should, because you can do more good that way. But I think building a company that provides income for those who work for you feels better than closing a deal.”

•  Mike Simmons

“Find good people, treat them well.” 

• Mike Simmons

We all feel better when we serve people.” 

• Andy McFarland

“The problem is, in the beginning, people are so freaked out about getting a deal that they go in there with that energy and they struggle.”

• Michael Simmons 

“Money amplifies what you already are. It won’t change your life. It will just make you more of what you already are.”

• Andy McFarland

“The reason why people are unhappy - it all boils down to comparison.”

• Michael Simmons

Thank You for Listening!

• Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

Help Out the Show:

• Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one.
• Subscribe on iTunes

Highlights From The Show:

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Live Question and Answer sessions. For those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more!

This presentation is the live Q&A that I did the week of December 7th and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!

Notable Quotes:

“Leads are oxygen. Your company cannot survive without leads.”

“What is a healthy return in the Midwest is very different from a healthy return in California.”

“In my opinion, if you are going to do rentals, you need to be in double-digit returns.”

“If you are not at 10% ROI, I think there are potentially better things you can do with your money.”

“Sometimes the first-time homeowners are challenging to deal with because they have never been through the process before.”

“I like to see new investors send out 3,000 to 5,000 direct mail pieces per month.”

“How do you get 2 to 3 deals per month? That is 100% a math problem.”

“You need to get your first few deals and see how many mailers it took, and then amp it up.”

“As investors, we are buying distressed properties from distressed homeowners.”

“It is typically one contract per three appointments, and it usually takes us twenty leads to get one appointment.”

“We build a Facebook page with owner-financed buyers.”

Thank You for Listening!

• Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

Help Out the Show:

• Leave an honest review on iTunes. Your ratings and reviews really help and I read each one.
• Subscribe on iTunes.

More Resources From Mike:

• Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
• WINNING DIRECT MAIL - How to CRUSH IT with direct mail!
• 7 Figure Investor Video Course - Scale your business to 7 figures. I'll show you how!

Today's Guest: Taylor Loht

Taylor is a real estate investor focusing on multifamily apartments and self-storage properties. To date, he has acquired, partnered on, or otherwise had a hand in over $150 million dollars in commercial real estate deals. He has made it his mission to help others learn how to escape Wall Street and build wealth on Main Street. 

Highlights From The Show:

We begin the episode with Taylor sharing his background story and how he ended up in real estate. He shares that he invests in commercial multifamily and self-storage. His investment journey started a decade ago after graduating from college and finding a job. The first investing book he read was The Intelligent Investor by Benjamin Gram, and it got him started in the stock market. After doing well for a few years, he realized that it was not going to produce financial freedom for him. Taylor wanted to make more money, and through exploration and listening to real estate podcasts he was led to Rich Dad Poor Dad by Robert Kiyosaki. The book highlighted the big expense of pursuing an MBA that he wanted and the power of passive cash flow through real estate investing. Taylor decided to get on the real estate path, which took 2 years to get things going and figure out what he wanted to do in the space.

We then talk about where Taylor started investing in real estate. Taylor shares that he is an introvert, but the first thing he did to get into real estate was networking. It was a big struggle for him, but Taylor went to local realtors and started learning about their strategies. He kept on digging, meeting with wholesalers, flippers, and single-family investors, and ultimately what gave him the spark was investing in large multi-family, and he dove into it. Taylor shares that the space was exciting, and he had big goals but didn’t have the money to get involved in these kinds of deals. He started out by learning about syndication and how people closed big deals when they didn’t have all the money, and he set out to get involved. Taylor didn’t know what that would look like, but he hired a coach and started networking, building his own brand, going to conferences, and, ultimately, starting a podcast. 

Next, we talk about how to find multifamily deals and raise money when you have no experience in the space. Taylor shares that the first step is working on your limiting beliefs and aligning yourself with people with the experience. You can do this by getting them on your team or by getting on their team. According to Taylor, no matter the type of deals you’re doing, real estate is a relationship and network-driven business. Whether you are doing flips, BRRRRs, or large multifamily deals, who you know is definitely a big part of doing business effectively. People are more willing to partner with people who they know, who can deliver, and who have mutual and shared interests. It is vital to find people who have the experience you need and who you can work with on any given deal to leverage their experience.

We then discuss how and where to start investing in multifamily. Taylor shares that it’s a personal decision; you must know yourself, your willingness, and what you want. He recommends that you go for what you want, whether it’s single-family or small multifamily. Regardless, there is money to be made, but he advises not to get stuck there if you want to scale up. He shares that there are people who are killing it and making big money in different ranges, including in small and mid-size multifamily. According to Taylor, investing in real estate comes back to individual preference and how you want to attack the strategy. However, if you are looking to go straight to big multifamily investing, it’s also possible. Taylor recommends you find a syndicator and work for them or a thought leader in the space to learn, build your experience, and network to make progress.

Lastly, we talk about how to find deals in the multifamily space. Taylor shares that you can find them off-market, but they often go through brokers. In the time he has been in the space, Taylor shares that he has done a handful of deals that didn’t use a broker to negotiate or handle the transaction. The deals came about through building relationships at conferences, not sending emails or offers to people, and getting responses. According to him, if you are interested in building off-market deal flow in the commercial real estate space, there are enormous opportunities in self-storage and small and mid-multifamily properties still owned by individual investors. However, in the bigger space, it’s pretty much brokerage.

Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Taylor Loht and get valuable information on how to get started in multifamily!

Notable Quotes:

“Syndication is not a no-money down type of game.”

•  Taylor Loht

“Property managers shouldn’t have ownership in the property. You should be able to terminate them in case of a problem.“

•  Taylor Loht

“Asking people what they need is a great way to get them to talk to you even if they don’t need anything and then you get the experience you want from them.”

• Mike Simmons 

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Resources and Links From Today's Show:

Passive Wealth Strategy

Passive Wealth Strategy Podcast 

Passive Real Estate Course

Taylor on Facebook 

More Resources From Mike:

Highlights From The Show:

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Live Question and Answer sessions. For those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more!

This presentation is the live Q&A that I did the week of November 30th and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!

Notable Quotes:

“There is no way an online experience creates a deeper, more meaningful, impactful relationship than in person. There is just no way.”

“I don’t think anyone can really multitask.”

“Even more than a maintenance cost issue, a long-term rental with a pool can be a liability issue.”

“Raising rents on a tenant-occupied rental that you just bought is 100% legal, but what are your ethical obligations?”

“Giving tenants more time to either figure out how to pay more rent or move is nice, but not required.”

“The market, or consumers, have the right to tell you, ‘That rent is too high and I am not willing to pay it.’”

“That is just how business is done all the time with multifamily investments. Why would you question it for a single-family house?”

“Please be a nice person, but don’t feel like you are doing anything immoral or unethical by raising the rent to fair market value.”

Thank You for Listening!

• Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook

Help Out the Show:

• Leave an honest review on iTunes. Your ratings and reviews really help and I read each one.
• Subscribe on iTunes.

More Resources From Mike:

• Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
• WINNING DIRECT MAIL - How to CRUSH IT with direct mail!
• 7 Figure Investor Video Course - Scale your business to 7 figures. I'll show you how!