Financial Freedom with Real Estate Investing

Most people see adversity as a bad thing and avoid it at all costs. But what if setbacks are simply part of the journey to success? What if we can convert adversity into rocket fuel and use it to propel us to the next level? Mike ‘C-Roc’ Ciorrocco is the CEO of People Building, Inc. and Cofounder of the emerging tech company Blooprinted. He was named one of the Top Business Leaders to Follow in 2020 by Yahoo Finance and was #1 on their list of Top Mortgage Professionals the same year. Mike is also the host of What Are You Made Of? and the bestselling author of Rocket Fuel: Convert Setbacks, Become Unstoppable. On this episode of Financial Freedom with Real Estate Investing, Mike joins cohost Garrett Lynch and me to explain why adversity is a good thing, describing how he converts setbacks into rocket fuel to become unstoppable. He walks us through the 3 C’s for achieving any big goal, challenging us to get clear on what we want and commit to taking consistent action. Listen in to find out how Mike got into business with Grant Cardone and learn his approach to reframing adversity as your best teacher. Key Takeaways   The rocket fuel that makes Mike unstoppable 'Dirty fuel’ of difficult childhood Future dreams to pull forward How Mike lifted himself out of a negative environment Mom encouraged to be leader Never bought other’s BS to justify failures Mike’s 3 C’s for realizing you’re not stuck Clarity Commitment Consistency The importance of your peer group Bad things happen with wrong associates Surround self with people aligned with mission Why people have a hard time committing to a goal Say it’s hard, try to make self right Program self to best-case scenario Why Mike encourages people to tell their story Journey to success often invisible Adversity = part of process The 3 reasons people don’t share their story Don’t think people care Embarrassed by story Underestimate power to impact others Why adversity is ultimately a good thing Helps course correct when getting off track Teaches how to get where going Mike’s approach to bouncing back from a big setback SWOT analysis of worst-case scenario Don’t worry what other people think How Mike got into business with Grant Cardone Read 10X Rule, got immersed in his content Connect with Grant’s team to share successes Ask to write forward for Rocket Fuel Work together to launch 10X Incubator What Mike wants to be remembered for Make people feel unstoppable Elevate others to achieve potential Connect with Mike Ciorrocco Mike on Clubhouse Mike on Instagram Mike on LinkedIn What Are You Made Of? Podcast Blooprinted Resources Access Michael’s Blueprint to Your First Multifamily Deal Training Learn About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club Rocket Fuel: Convert Setbacks, Become Unstoppable by Mike Ciorrocco Grant Cardone 10X Incubator The 10X Rule: The Only Difference Between Success and Failure by Grant Cardone Grant Cardone Sales Training University The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life by Hal Elrod Vivid Vision: A Remarkable Tool for Aligning Your Business Around a Shared Vision of the Future by Cameron Herold Podcast Show Notes Michael’s Website  Michael on Facebook  Michael on Instagram  Michael on YouTube  Apartment Investor Network Facebook Group 

Scale is crucial to achieving financial freedom with real estate. And while multifamily is the fastest way to achieve scale, there are other commercial asset classes that will get you there, provided you understand the challenges and how to overcome them. Kevin Bupp is living the dream with mobile home parks, and he’s well-versed what it takes to grow a portfolio in this niche market. Kevin is the CEO of Sunrise Capital Investors, a firm that helps investors build legacy wealth through commercial real estate investing. Kevin and his team focus on mobile home parks and parking assets, market segments with less competition than other asset classes. He has been a real estate investor since he was 19 years old, and he has specialized in mobile home parks for the last 10 years. Kevin is also the host of the Real Estate Investing for Cashflow Podcast. On this episode of Financial Freedom with Real Estate Investing, Kevin joins cohost Garrett Lynch and me to discuss the pros and cons of investing in mobile home parks. He explains why he made the commitment to self-manage his portfolio and shares best practices for building your own property management company. Listen in to understand the process of finding mobile home park deals and learn how Kevin built and scaled a successful mobile home park investing business! Key Takeaways What Kevin loves about mobile home parks Very high cash-on-cash returns Mom-and-pop owners = upside potential Very low tenant turnover rate The challenges of mobile home park investing Difficult to scale (focus on large lots) Must make commitment to self-manage How to build a property management company Add value to established group Hire from top down, not bottom up Kevin’s advice on scaling a mobile home portfolio Grow efficiently, do only good deals Focus on quality of life Kevin’s first hires for a property management team Invest in director of property management Experienced administrative assistant What a mobile home park value-add deal looks like Aesthetic improvements (e.g.: road repair) Renovate park-owned units Install new homes on vacant lots Individual submeters on each lot Why Kevin prefers selling mobile homes to renting Little to no profit on renters Average stay for owners = 9 years Kevin’s debt strategy for mobile home parks Fannie and Freddie loans Community banks or CMBS lenders How Kevin finds mobile home park deals Cold call and direct mail prospects Relationships with brokers How Kevin gets property owner contact info Secretary of state site for LLC members Skip trace software Why Kevin is getting into parking assets Cashflow, nice return on investment Positive future potential Connect with Kevin Bupp Kevin’s Website Sunrise Capital Investors Real Estate Investing for Cashflow Podcast Resources Podcast Show Notes Access Michael’s Blueprint to Your First Multifamily Deal Training Learn About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club Kevin Bupp on Financial Freedom with Real Estate Investing EP054 TLOxp LexisNexis CoStar Reonomy Hunter Thompson on Financial Freedom with Real Estate Investing EP087 Podcast Show Notes Michael’s Website  Michael on Facebook  Michael on Instagram  Michael on YouTube  Apartment Investor Network Facebook Group 

Investing out of your area is a challenge. And investing WAY out of your area, like in a different country, adds another layer of complexity to doing a deal. But as long as you’re willing to make a decision and start moving forward, there’s nothing you can’t figure out along the way. Edna Keep is a real estate investment coach and author of Multiple Ways to Wealth: Creating Your Prosperous Lifestyle. Edna spent 15 years as a financial advisor before she was introduced to real estate, and today, her team owns a portfolio of 800 doors worth $65M in both the US and Canada. On this episode of Financial Freedom with Real Estate Investing, Edna joins cohost Garrett Lynch and me to share the ins and outs of investing out of area and explain the differences between the US and Canadian markets. She describes the challenges of being a foreign investor, offering insight into what she looks for in a market and how she builds a power team on the ground around a deal. Listen in for Edna’s advice on making a decision and then making it work for you—even if you don’t have all the answers about how a deal will work! Key Takeaways  What inspired Edna’s interest in real estate Worked as financial advisor for 15 years Clients pull money for real estate deals How Edna pitches seller financing deals Focus on property owners looking to retire Keep income stream, avoid taxable event How Edna finds sellers that are planning to retire Real estate investment networks Referrals based on reputation  Edna’s transition to larger multifamily properties Raise investor capital for Memphis deal Paid cash ($21,600 per door) Why Edna prefers real estate over mutual funds Mutual funds subject to market cycles Real estate offers consistency Why Edna is investing in US real estate markets Hot urban markets, high prices in Canada Challenging to get financing in Canada The logistics of investing in a foreign market Find deal, build power team on ground Canadian corporation owns US LLC What Edna looks for in a real estate market Focus on workforce housing Look for growing community Why it’s okay to not have all the answers Multiple exit strategies available Work with partners Edna’s advice for aspiring investors Make a decision, then make it work Don’t put all eggs in one basket Connect with Edna Keep Edna’s Website Email edna@ednakeep.com  Resources Learn More About Michael’s Mentoring Program Download Michael’s Free Report—What’s the Best Investment: The Stock Market or Real Estate? Join the Nighthawk Equity Investor Club  Financial Freedom with Real Estate Investing by Michael Blank Robert Kiyosaki National Real Estate Investors Association Canada Mortgage and Housing Corporation Multifamily Networking from Anywhere in the World on FFWREI EP260 Canadian Real Estate Investment Trusts Podcast Show Notes Michael’s Website  Michael on Facebook  Michael on Instagram  Michael on YouTube  Apartment Investor Network Facebook Group 

All entrepreneurial activities are not created equal. Running a service-based business is an active pursuit. You’re managing employees, making sales and then following through with high quality work. But in real estate, once you do the initial legwork, the money comes in automatically with very little effort on your part. Pete Schnepp is the successful entrepreneur behind Envision Painting and Roof Coatings, Bug Science Pest Control and PRS Properties. Pete got serious about building a real estate portfolio in 2017, and today, his rental income covers his family’s living expenses, and he is financially free. On this episode of the podcast, Pete joins cohost Garrett Lynch and me to discuss what sets real estate apart from other kinds of entrepreneurship. Pete walks us through the steps he took to build a portfolio of properties and explains why his family continues to live below their means despite having achieved financial freedom. Listen in for Pete’s advice on revisiting your goals every day and find out how he is building generational wealth with real estate! Key Takeaways  What inspired Pete’s interest in real estate Realized people with money involved in real estate Needed Plan B to protect family financially The steps Pete took to build his portfolio Listened to podcasts and books while driving Lived below means to save up Made offers on 10 properties in single weekend How Pete achieved financial freedom $10K/month rental income covers living expenses Goal to hit $20K/month by 2023 Pete’s insight on living below your means Pay self salary as business owner and live on that Maintain modest lifestyle even now How Pete and his wife got on the same page She supports his big dreams Prioritize time with family over expensive things Pete’s future goals when it comes to real estate Use to create generational wealth Hold existing properties for passive income How real estate differs from Pete’s other small businesses Painting and pest control = active Real estate = passive and easier to scale Pete’s advice for aspiring real estate investors Get clear on 5-year goal Focus on goal daily Connect with Pete Schnepp Pete on LinkedIn Pete on Facebook Resources Register for Michael’s Platform Builders Masterclass Learn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not by Robert T. Kiyosaki Think and Grow Rich by Napoleon Hill BiggerPockets Real Estate Podcast Entrepreneurs’ Organization The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod GoBundance The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley and William D. Danko CASHFLOW Board Game  Podcast Show Notes Michael’s Website  Michael on Facebook  Michael on Instagram  Michael on YouTube  Apartment Investor Network Facebook Group 

The vast majority of multifamily syndicators don’t stop with one property. And with each new deal, we start the stressful process of raising money all over again. But it doesn’t have to be that way! So, how does it work to raise capital for multiple deals through a fund? Joe Fairless is the Cofounder and Partner at Ashcroft Capital, a multifamily firm that invests in 200-plus-unit value-add deals. The Ashcroft team has a portfolio of 38 properties, and in February of 2021, they pivoted from raising money for individual deals to raising capital through funds. On this episode of Financial Freedom with Real Estate Investing, Joe joins me (and the attendees of Deal Maker Live) to discuss the pros and cons of raising money through a fund. He explains the benefit of being able to spread out your capital raise over time, bring on investors whenever they’re ready, and comingle money among deals. Listen in for insight on how Ashcroft structures its funds and find out if YOU’RE ready to start raising money for multifamily through a fund! Key Takeaways  How Joe achieves work-life integration Systems, people in place to run business when away Blurred lines between personal/professional life How Ashcroft Capital structures its funds Class A — 10% preferred return, virtually no upside Class B — 7% pref with 70/30 split on upside The downside of raising money for funds LP gets average of all deals (miss out on lightning in bottle) GP misses out on investors who prefer individual deals Joe’s take on the advantages of raising money for funds Don’t have to land on specific equity amount for each deal Spread out capital raise over time Bring investors on whenever ready Creates consistency for investors (GP can comingle money) When you should consider raising money through a fund Acquired 5 multifamily deals At least 2 exits under belt The pros and cons of using Rule 506(c) Can advertise deal publicly but accredited investors only Don’t have to document preexisting relationship Why Joe’s fund raises money for both class A and B properties 20% of investors class A, 80% of investors class B Class A shares upside over 10% for less risk Connect with Joe Fairless Ashcroft Capital Resources Learn About Michael’s Mentoring Program Access the Recordings from Deal Maker Live Join the Nighthawk Equity Investor Club Tony Robbins on Work-Life Integration Rule 506(c) Rule 506(b) Podcast Show Notes Michael’s Website  Michael on Facebook  Michael on Instagram  Michael on YouTube  Apartment Investor Network Facebook Group 

In the short term, multifamily investors can have success simply playing the appreciation game. But if you want to build a multifamily portfolio that survives and thrives for the long term, you have to make operations a priority.  Ashley Wilson is the cofounder of Bar Down Investments and the bestselling author of The Only Woman in the Room: Knowledge and Inspiration from 20 Women Real Estate Investors. Ashley has been involved in $60M-plus in real estate transactions in the last 12 years, and she leads asset and construction management for her own multifamily investments.  On this episode of Financial Freedom with Real Estate Investing, Ashley joins cohost Garrett Lynch and me to explain why it’s essential for syndicators to focus on operations. Ashley shares her take on the lack of women in real estate, offering advice on how to increase the number of women investors and influencers in the space. Listen in for Ashley’s insight on the #1 skill you need to be a successful investor and find out how to marry asset and construction management to maximize the value of YOUR multifamily portfolio! Key Takeaways  What lights Ashley up about multifamily real estate Finding best way to maximize value of property Operations (how tenants think, market shifts, etc.) How Ashley’s real estate strategy has evolved over time Hands-off house hacking, STRs while working full-time Shift to high-end flips after retired from pharmaceuticals  Desire to work smarter not harder led to multifamily Why multifamily is the holy grail for Ashley’s needs Obvious tax advantages, hedge against inflation Market demand (need due to housing shortage) Why syndicators need to focus on operations Can’t succeed long-term by way of appreciation alone Learn through management of difficult properties 100% collections on all properties throughout COVID The benefit of marrying asset and construction management Exploit market demands, minimize loss-to-lease Build up right tenants = easier to operate long term What inspired Ashley to write The Only Woman in the Room Just 14 women out of 450 investors at MidAtlantic Summit Highlight stories, provide role models for next generation Ashley’s take on the lack of women in the real estate business Women not encouraged to pursue STEM fields until now Math and finance necessary foundation for investing Why determination is the #1 skill of a successful investor Overrides fear of asking questions and taking risks Seek out knowledge, push through self-doubt How to increase the number of women investors and influencers Provide opportunities to speak at events based on merit Best way to be introduced = have someone introduce you Ashley’s advice to aspiring women real estate investors Start building relationships (net worth = network) Exploit free platforms to learn fundamentals Connect with Ashley Wilson Bar Down Investments Ashley on Instagram Ashley on BiggerPockets Resources Access the Recordings from Deal Maker Live Register for Michael’s Platform Builders Masterclass Join the Nighthawk Equity Investor Club The Only Woman in the Room: Knowledge and Inspiration from 20 Women Real Estate Investors compiled by Ashley Wilson MidAtlantic Summit The Real Estate InvestHER Community Investor Girl Britt Podcast Show Notes Michael’s Website  Michael on Facebook  Michael on Instagram  Michael on YouTube  Apartment Investor Network Facebook Group 

So, you want to go for bigger deals, but your current network is pretty much tapped out. Maybe you struggled to raise $500K for your last deal, and you’d like to add a zero for the next one. How do you attract new investors and scale your capital raise? Jonathan Barr is the Cofounder and Principal at JB2 Investments, a real estate investment firm specializing in 70-plus-unit value-add projects in high cashflow, landlord-friendly markets. Jonathan began his real estate career in 2009, facilitating the acquisition of 400 residential flips in the LA market that generated $22M in profit for his family’s business.  On this episode of Financial Freedom with Real Estate Investing, Jonathan joins me to explain what inspired him to invest outside the LA market, sharing the mental blocks he had to overcome to buy properties in the Midwest. Jonathan walks us through his first multifamily deal in Oklahoma City, discussing why he had a hard time raising money for it and how he built an online platform to solve that problem. Listen in for Jonathan’s insight on using Twitter to attract new investors and learn how to scale YOUR ability to raise capital through content creation! Key Takeaways  How Jonathan got involved in real estate  Grew up in real estate family in LA Join flip, development business The pros and cons of working in a family business Feel ultimate support and trust Hierarchy of parent-child relationship What Jonathan learned in SFH acquisitions that translates to multifamily Conduct due diligence, use checklists to mitigate mistakes Discuss deals with team and bounce ideas What inspired Jonathan to invest outside the LA market Buy-and-hold duplexes in LA only making 3% in equity Potential to triple cashflow by moving money to KC Jonathan’s mental block around investing out of the LA market Unable to drive to properties and manage himself Hard to feel comfortable delegating responsibility Why Jonathan made the shift to multifamily Margins on flips low, always chasing next deal Apartment buildings much more tax efficient Why Jonathan joined our mentoring program last year Left family business in January 2020 Used to having parents as mentors Jonathan’s first multifamily deal Closed on 72-unit property in OKC in September Cut expenses by 25%, beating projections by 30% Why Jonathan had a hard time raising money for his first deal First deal in OKC market (no track record there) Uncertainty of pandemic How Jonathan built an online platform to raise capital Offer free eBook to build email list Post content daily on Twitter Jonathan’s take on why content creation is so important Gives potential investors insight into business Shows thoughtful and thorough, builds trust Jonathan’s insight on how to create content Get ideas from questions you get, other podcasts Block off time to write multiple posts at once Jonathan’s advice for syndicators who are tapped out on capital Post video or blog every week Focus energy on single social platform Connect with Jonathan Barr JB2 Investments JB2 on Facebook  Jonathan on Twitter Jonathan on LinkedIn Resources Register for Michael’s Platform Builders Masterclass Learn More About Michael’s Mentoring Program Enter the Financial Freedom Podcast Launch Contest The Tax Stack Strategy: The Magic of Paying Less Tax Using Real Estate by Jonathan Barr Upwork Podcast Show Notes Michael’s Website  Michael on Facebook  Michael on Instagram  Michael on YouTube  Apartment Investor Network Facebook Group 

In nearly 300 episodes of the Apartment Building Investing podcast, I’ve talked to big names in real estate like Robert Kiyosaki, Brandon Turner and Grant Cardone. I’ve also had conversations with countless men and women you may not have heard of who achieved financial freedom through multifamily syndications. And now, Apartment Building Investing is coming to an end. But only because we’re celebrating a new beginning and rebranding the show as Financial Freedom with Real Estate! On this episode, I explain how Financial Freedom with Real Estate more accurately reflects our mission here at The Michael Blank Organization. I explain what makes investing in apartments better than single family homes, sharing examples of people we’ve empowered to quit their jobs and live a life of purpose through multifamily investing. Listen in for insight on the benefits of our Deal Maker Certification training and find out how to WIN the course in our Financial Freedom Podcast Launch Contest! Key Takeaways  Why we’re renaming the podcast Financial Freedom with Real Estate Accurately communicates mission of organization Reach more people thinking about investing Why apartments are superior to investing in single family homes Performs better in down markets More consistent returns Pay self acquisition fees as syndicator Secure non-recourse debt Control value of property Achieve financial freedom in 2 years How financial freedom empowers people to live a life of purpose Realize you’re here for something bigger than yourself Sets you up to make impact, become difference-maker What you learn from our Deal Maker Certification training Proven system to achieve financial freedom with multifamily Process for doing first deal, quitting job and scaling portfolio       Resources Enter to Win the Financial Freedom Podcast Launch Contest Financial Freedom with Real Estate Investing by Michael Blank Explore Michael’s Deal Maker Certification Training Learn More About Michael’s Mentoring Program Financial Freedom Hall of Fame Rich Dad Poor Dad by Robert T. Kiyosaki Podcast Show Notes  Michael’s Website  Michael on Facebook  Michael on Instagram  Michael on YouTube  Apartment Investor Network Facebook Group 

Multifamily investors know the advantages of scale. But when it comes to residential assisted living or RAL, bigger isn’t always better. The big-box model often leads to poor healthcare outcomes, treating residents not as individuals but part of a process. So, how can investors scale senior living facilities without compromising care? Loe Hornbuckle is CEO of Sage Oak Assisted Living and Memory Care and Cofounder of GoodHorn Capital, a real estate investment firm focused on recession-resistant asset classes including build-to-rent and senior living. Loe has a heart for improving the residential assisted living experience, providing residents with both the quality care associated with small RAL facilities and the advantages of scale. On this episode of Apartment Building Investing, Loe joins cohost Garrett Lynch and me to share his unique, hybrid approach to building assisted living and memory care facilities. Loe explains how his father’s bad experience in hospice inspired his interest in RAL and offers insight on applying his strategy to multifamily deals. Listen in to understand how Loe is solving the scaling problems of residential assisted living and find out if the business of caretaking is right for YOU. Key Takeaways Loe’s approach to building assisted living and memory care facilities Unique physical plant and operations (boutique experience) Campus of 10 buildings with 16 residents in each How Loe is solving the scaling problems of residential assisted living Campus of care homes can use third-party management Much easier to appraise and finance through bank What Loe’s campus of care homes looks like 5 or 6 homes (9K ft2) + 2-story sales and admin office Homes have four quadrants and commons area What inspired Loe’s interest in assisted living as an asset class Dad had really bad experience in hospice care Presentation and podcast on converting real estate to RAL How an investor can get into the business of caretaking Invest as LP with operator you believe in Hire team with medical background How Loe thinks about processes and systems in RAL Works only up to point to establish baseline Hire for heart and talent, get out of way The critical hires for a residential assisted living facility Executive director and head of clinical team Look for integrator or visionary How to apply Loe’s RAL strategy to multifamily investing Analyze deal if converted to age-restricted community Additional tool for competing on deals Loe’s advice on getting started with residential assisted living Must have heart for business and strong WHY Determine core competencies of team, hire for gaps Connect with Loe Hornbuckle Loe on LinkedIn GoodHorn Capital Resources Register for Deal Maker Live Learn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club Podcast Show Notes Michael’s Website  Michael on Facebook  Michael on Instagram  Michael on YouTube  Apartment Investor Network Facebook Group 

Adversity is not optional. Whether you’re a Navy SEAL or a multifamily investor, you’re going to face difficult circumstances. And while you don’t have control over what happens, you DO control how you respond. Are you going to let adversity knock you down? Or will you rise to the occasion?  Chad Williams the bestselling author of SEAL of God, a memoir of his grueling journey through Naval Ops training and onto the war-torn streets of Iraq. Chad is also a sought-after international speaker, drawing on his experience as Navy SEAL to share lessons around teamwork, integrity, mental toughness and overcoming adversity, and he is set to deliver the keynote address at Deal Maker Live next week in Dallas. On this episode of Apartment Building Investing, Chad joins cohost Drew Kniffin and me to explain how the principles he mastered as a SEAL apply to multifamily investing, challenging us to be servant leaders and stay calm in the face of adversity. Chad offers advice on staying the course in difficult times, describing how a strong WHY made him one of only 13 SEAL trainees to graduate (in a class of 173). Listen in for Chad’s insight on the choice you have to let adversity be a weight or a wing and learn to be resilient regardless of the challenges life brings your way! Key Takeaways  The story of Chad’s final operation in Iraq Hunt men who make suicide vests and roadside bombs Work side by side with Iraqi Special Operations Forces ISOF led final initiative but ambushed during operation What it looks like to be a servant leader Foster environment of loyalty, trust and sense of family Esteem needs of others as greater than your own Chad’s advice on how to respond to adversity Find ways to rise to occasion (choose wing vs. weight) Calmness is contagious, true leader controls emotions The challenge of completing the training to become a SEAL 173 in Chad’s class but only 13 made it to graduation Hell week = 4 hours of sleep in 5½ days, run 200 miles  How to stay the course and endure through challenging times WHY bigger than just you, e.g.: faith, family or friends What would you write inside your hat? Connect with Chad Williams Navy SEAL Chad Williams SEAL of God by Chad Williams SEAL of God on Instagram Resources Register for Deal Maker Live Sign Up for Chad’s Deal Maker Live Adventure Access Michael’s Free Report—What’s the Best Investment: The Stock Market or Real Estate? Join the Nighthawk Equity Investor Club Learn More About Michael’s Mentoring Program Download Michael’s Free eBook: The Secret to Raising Money for Your First Apartment Building Scott Helvenston Podcast Show Notes Michael’s Website  Michael on Facebook  Michael on Instagram  Michael on YouTube  Apartment Investor Network Facebook Group