PassivePockets: The Passive Real Estate Investing Show

For this episode, we are releasing our exclusive MASTERCLASS on building wealth through passive Real Estate. In this 9-part MASTERCLASS, passive investing expert Jim Pfeifer, founder of Left Field Investors, sits down with Tribevest's Julian McClurkin. Jim reveals how to put your money to work through strategies that only recently became available to the average investor.Millions of people are wisely reallocating their recent gains from the stock market (and Crypto!) and diversifying to tangible assets. Real Estate is the perfect asset to protect against market crashes and inflation. It's no wonder this tactic is how the wealthy have played the game for centuries.We covered the following chapters in the previous episode:1.     What is Passive Investing?2.     What is a Syndication?3.     What are the Pros and Cons of Passive Syndications?4.     How to Pick a SponsorThe following chapters will be discussed in this episode:5.     How to Pick an Asset Class6.     How Can You Diversify by Market?7.     How Do We Choose a Deal?8.     What to Expect When Investing in a Syndication9.     How to Invest With a TribeThese topics will be familiar to many of you, but the intent of the masterclass is to give an overview of passive investing that will hopefully help beginners as well as experienced investors.We want to thank Tribevest, and especially Julian McClurkin, for supporting us in the production on the Masterclass.  We would also like to thank the entire LFI team, Chad, Sean, Ryan & Steve, for their help in creating the content - we certainly could not have done it without them!If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.   Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

For this episode, we are releasing our exclusive MASTERCLASS on building wealth through passive Real Estate. In this 9-part MASTERCLASS, passive investing expert Jim Pfeifer, founder of Left Field Investors, sits down with Tribevest's Julian McClurkin. Jim reveals how to put your money to work through strategies that only recently became available to the average investor.Millions of people are wisely reallocating their recent gains from the stock market (and Crypto!) and diversifying to tangible assets. Real Estate is the perfect asset to protect against market crashes and inflation. It's no wonder this tactic is how the wealthy have played the game for centuries.We will be covering the following chapters in this episode:1.     What is Passive Investing?2.     What is a Syndication?3.     What are the Pros and Cons of Passive Syndications?4.     How to Pick a SponsorThe following chapters will be discussed in next weeks episode:5.     How to Pick an Asset Class6.     How Can You Diversify by Market?7.     How Do We Choose a Deal?8.     What to Expect When Investing in a Syndication9.     How to Invest With a TribeThese topics will be familiar to many of you, but the intent of the masterclass is to give an overview of passive investing that will hopefully help beginners as well as experienced investors.We want to thank Tribevest, and especially Julian McClurkin, for supporting us in the production on the Masterclass.  We would also like to thank the entire LFI team, Chad, Sean, Ryan & Steve, for their help in creating the content - we certainly could not have done it without them!If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.   Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Chad Ackerman is a senior consultant working for a major bank as well as one of the co-founders of Left Field Investors. He has been a major contributor to the development of all of the Infielder tools we have been developing this year and is working towards his goal of financial freedom. In this episode, Chad discusses how he got started in passive investing, using velocity of money to increase his returns and why he uses Tribevest for group investing.Chad talks about how he started in real estate with private lending and then started chasing the shiny object, as so many of us have.  He discusses how his networking with multiple groups has helped him on each step of his journey – including how networks helped him find focus in his investing strategy.Chad explains that using velocity of money in passive investing can be as successful a strategy as managing your own active real estate portfolio.  He gives an example of this when you get a refi 2-3 years into an investment - you still own the investment and you can go invest the returned capital in a new deal, effectively earning two returns with the same dollar.Chad talks about his decision to liquidate his old 401k and pay the taxes plus penalty so he could invest that money passively in real estate syndications. He explains how he expects that money to be recycled and grow so that he won’t need to add more capital in the future.Chad discusses his experience with group investing through Tribevest.  He says Tribevest increased his network, helped with diversification, and helped him learn to be a better investor.  He also talks about how to set up a tribe for success.Chad ends the podcast talking about his favorite metrics when analyzing a multifamily deal and how those metrics have changed as he has grown as an investor.Podcasts he recommends:Bigger Pockets  Real Estate Guys Passive Wealth Strategy To connect with Chad, you can email him at chad@leftfieldinvestors.com.If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Jorge Newberry is CEO and Chairman of AHP Servicing LLC and American Homeowner Preservation LLC, which crowdfund the purchase of nonperforming mortgages from banks at big discounts, then share the discounts with struggling homeowners. He is also Founder and CEO of Debt Cleanse Group Legal Services, a nationwide legal plan to help consumers and small businesses get out of debt. In this episode, Jorge discusses his rise and fall in multifamily investing and how he got out of debt and started new businesses that make money for investors and help homeowners in financial distress.Jorge discusses his two new investment opportunities which are similar to his previous fund where they buy loans from banks and help the homeowners stay in the home be restructuring the mortgage.Podcasts he recommends:Wealth FormulaJorge mentioned his book "Burn Zones", you can buy the book using this link.To connect with Jorge or to view his investment opportunities go to prereo.com or ahptitle.com.If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.   

Christopher Saylor is the founder and Managing Partner at Pikes Peak Capital, which manages high-return distressed real estate funds. Pikes Peak Capital buys and sells single-family residential real estate across the nation and provides a path to homeownership for low-to-moderate-income individuals.  They typically look for opportunities others dismiss as too difficult or too different and have managed 4 funds with over $10M in transactions in 36 states. In this episode, Christopher discusses how Pikes Peak buys distressed properties and help homeowners stay in their homes while providing quality returns to investors.Christopher talks about his first two funds and the strategy of buying low value single family homes that banks are not typically interested in.  The firm sells the properties to low to moderate income home buyers who are often locked out of financing from banks.  Pikes Peak will help them with the financing rather than the buyer going through a traditional bank and then sell the paper on the secondary market.Christopher discusses how Pikes Peak sets up automatic screens to filter thousands of properties to find the ones they want to perform additional due diligence on. He talks about the original plan of doing all property evaluation in a spreadsheet but realized the team also need to visit the properties which they do through using services who perform this function for them.The third fund – RDMO (Residential Distressed Mortgage Opportunity Fund)– focuses on assets from $100,000 to $750,000 and the source of acquisition is both pre and post foreclosure and NPL (non-performing mortgages).  The strategy for nonperforming mortgages is to work with the borrower to find a mutually beneficial solution.  After the loan is rehabbed, Pikes Peak sells the loans on the secondary market. If they can’t work out the loan with the borrower, cash is offered for deeding the property and if that doesn’t work they go through the foreclosure process or resell the loans on the non performing secondary market.Christopher discusses Home Ownership As A Service – Pikes Peak extends financing to the borrowers and tries to ensure the borrowers are set up for success while providing financial counseling, and offering to buy the houses back from struggling borrowers.Podcasts he recommends:Money Talks The RobCast To connect with Christopher,  email him at christoper@ppch.co  or call or text 719-659-4576.If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Bob Fraser is the Co-Founder & Principal at Aspen Funds, a residential mortgage fund. He worked in tech and in the stock market before starting his notes investing fund eight years ago.  In this episode, he talks about investing in notes, his outlook for the economy, why he is not concerned about inflation and ends with a discussion on Bitcoin and cryptocurrencies.Bob explains that buying notes is just buying mortgages on real estate. He talks about Aspen funds and how they focus on notes on single family homes. Bob discusses the difference between performing notes and non-performing notes. He explains that when they buy non-performing notes, they rehab the loans and once It’s performing again, they sell the paper.Bob talks about the note underwriting process and why they prefer second position mortgages when they are available.  He also discusses the market for re-performing loans and how they find the loans to buy. He then talks about the pandemic and how it did not have a large effect other than causing many people to pay off loans early.Our discussion turned to the economy and Bob explains that he sees a “screaming” economy for the rest of 2021 and 2022 depending on the reactions of the Federal Reserve.  He is not concerned about inflation because the economy is coming up to full capacity and discusses the factors that have prevented inflation in the past even through the massive money printing and how it expects those trends to continue. Bob explains why wages, oil and food have deflationary forces that are helping prevent inflation.Bob discusses how he changed his views on money and is now a believer in Modern Monetary Theory (MMT).  He mentioned that he is not concerned about government deficits because those have historically been reduced and eliminated by inflation.Bob ends the conversation talking about cryptocurrencies and why he prefers Ethereum to Bitcoin and other altcoins. He also discusses proof or work versus proof of stake.Podcast he recommends:Invest Like a BillionaireTo get access Bob’s comprehensive 2021 Economic Forecast go to www.aspenfunds.us/resources. Bob mentions the following book:This Time Is Different: Eight Centuries of Financial Folly To connect with Bob go to www.aspenfunds.us.If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Paul Moore is the Founder & Managing Partner of Wellings Capital, a real estate private equity firm focused on mobile home parks and self-storage facilities.  He is an author, podcaster, a regular contributor to Bigger Pockets and an experienced real estate investor. In this episode, Paul talks about forcing appreciation, speculating versus investing, and some of the metrics he looks at for mobile home parks and self-storage facilities.Paul talks about forcing appreciation and compressing cap rates as reliable ways to increase the value of an investment.  He explains what a cap rate is and how it works when forcing appreciation. He describes commercial real estate investing as buying an income stream and working to increase the income.Paul talks about his decision to move from multifamily to self-storage and mobile home park investing because he saw there was significant undervalued opportunity in those asset classes.  He likes asset classes with mom-and-pop owners because a good operator can dramatically increase efficiencies. He estimates around 85% of mobile home parks and 50% of self-storage facilities are owned by mom-and-pop owners.Paul discusses how he diversifies by operator, asset class and market, as well as how he does due diligence and vets operators.  He also talks about the advantages and disadvantages of investing in funds.Paul talks about the difference between in investing and speculating – investing is when principal is safe with a chance to make a return.  Speculating is when principal is not safe and there is a chance to make a return.  Paul discusses some of the metrics he looks at when evaluating a deal.  For self-storage – he looks at the density of self-storage in an area, requires the property to be on a main road and visible from the road, and the average income for the area should be equal to average income near the facility.  For mobile homes – he only looks at parks in a town with 5000 or more people, within five miles of a Super Walmart, and no private water or sewer.Podcasts he recommends:The Real Estate Guys Radio ShowBigger Pockets Bigger Pockets Business  Books mentioned on the show:Storing Up Profits: Capitalizing on America’s Obsession with STUFF by Investing in Self-Storage The Hands-Off Investor Paul mentions his work fighting against human trafficking, below are the educational resources he recommended:Nefarious Exoduscry.comTo connect with Paul go to wellingscapital.com.If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Gino Barbaro is one of the founders of Jake & Gino, LLC – a real estate education company.  He is a principal at Rand Partners, a multi-family syndication company and a certified professional coach as well as an author and podcast host. In this episode, Gino talks about the importance of mindset, how to evaluate a sponsor and some of the metrics he uses when evaluating a deal.Gino talks about the importance of educating yourself and having the right investing mindset – if you think you can do it, you can. He mentions he took life-coaching classes and it helped him understand you need to find your Why and your How will come.Gino talks about how he transitioned from buying multifamily assets without using outside money to building a brand and raising capital.  He discussed the importance of finding a sponsor you know, like and trust.  He also mentions that to vet a sponsor you need to do the work and evaluate their track record, their business model, their reputation and maybe even go visit them and see properties they own. Gino tells the story of the poor vetting he did when investing with a guy he calls Maserati Mike.  He also discusses the Howey Test and explains how that test applies to syndications. He goes on to say some of the metrics he thinks passive investors should evaluate when considering a multifamily syndication investment.Gino talks about how cashflow gets you out of a W2, but appreciation keeps you out. This is an important factor to consider when analyzing a sponsor and a deal.Gino is a reader rather than a listener, but below are the podcasts from the Jake & Gino Community: Wheelbarrow Profits   Movers & Shakers  Rand CRE Show   Multi-Family Zone Books he recommends:Vivid Vision by Cameron HeroldSeven Habits of Highly Effective People by Stephen CoveyMindset by Carol ZweckTo connect with Gino, you can email him at gino@jakeandgino.com.To get a copy of Gino's e-book, How To Share the Benefits of Multifamily Investing to Create Financial Independence,  send him an email to gino@jakeandgino.com.If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.   

Buck Joffrey is a surgeon turned real estate professional with nearly $1 billion in real estate transactions including $400M in current real estate assets under management.  He is also a financial educator focused on alternative assets.  He runs a fantastic Community called the Wealth Formula Network and is host of the Wealth Formula Podcast as well. In this episode, Buck talks about the keys to forcing equity, investing in multifamily, self-storage and ATMs, and how to vet a sponsor.Buck talks about how good students usually stay on the career path rather than become entrepreneurs and he was on that track until he discovered Cash Flow Quadrant by Robert Kiyosaki. That book helped him realize he wanted to be an entrepreneur and he followed that path which led him to real estate.Buck discusses that the focus of his multifamily investing is not to “buy and hope”, rather to buy and force equity by increasing net operating income.  He mentions that the math is simple, but you need a great operator to make it actually happen. He talks about Western Wealth Capital and their strategy to force equity and they prefer properties that are significantly underperforming which gives them plenty of room to force appreciation and provides velocity of money for investors.Buck talks about self-storage and how the strategy of forcing equity applies there too – he mentions buying underperforming “mom & pop” properties that haven’t kept rent up or have space to build more units to add value to these businesses.  He also mentions that it is sometimes easier to increase rents because the rents are lower in dollar terms than multifamily.Buck discusses ATM’s and why they are a good investment, but not a replacement for real estate investing.  The cash flow and returns are good, but the bonus depreciation is what makes the ATM investment really attractive. He also discusses using life insurance cash value or a HELOC to amplify the returns from ATM investments.Buck talks about how to vet a sponsor and investing with sponsors that you know, like and trust who have a legitimate track records. He also talks about bridge debt and in what situations he would use it.Podcasts he recommends:Wealth Formula Podcast Lex Fridman PodcastThe Portal The Wealthabilty Show Purple Insider To connect with Buck go to wealthformula.com.If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Eric is a Founding Partner of Clear Capital, LLC and an Adjunct Professor with UCLA’s Anderson Graduate School of Management. He is the host of Focus on Facts Podcast and was a guest at the May 24th Left Field Investors monthly meeting.  In this episode, Eric talks about sourcing deals, abundance of liquidity in almost all markets, inflation now and in the future, wealth inequality and how all of these things effect real estate.Eric discusses how he got his start in real estate investing in various asset classes until he got into multifamily apartments, where he has focused his efforts for the past 20 years.Eric talks about the abundance of liquidity right now in almost all markets, not just real estate. He mentions that one of the biggest challenges is sourcing deals in the current market – and that they have to evaluate a lot of deals before they find one that works. Eric discusses inflation and how it is a popular topic right now. He thinks inflation will be around for a year or two because of Covid causing supply chain issues combined strong demand. Longer term there are multiple trends that point to deflation.Eric talks about the Three A’s - Amazon, Automation and AI (Artificial Intelligence) that are increasing productivity and lowering costs. He discusses how these affect multifamily real estate. He discusses housing shortages and difficulties in building affordable workforce housing and introduces the Three H’s – The Haves, Have-Nots and the Homeless.Eric is concerned about the effect of wealth inequality on the economy moving forward – he thinks it’s the single greatest systemic risk to our country. Eric talks about bridge debt and interest rates caps as a way to control expenses if interest rates rise and how to evaluate a sponsor.  He mentions the most important metric in multifamily investing – loss to lease and its Importance in evaluating a deal.Podcasts he recommends:Focus on FactsPassive Investing from Left Field Publication he recommends:The EconomistTo connect with Eric go to www.clearcapllc.com.If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.