Real Wealth Show: Real Estate Investing Podcast

August has been a volatile month for the global economy and for stock investors. Nearly every news channel is screaming that a recession is around the corner, and some European investors are accepting negative returns for bonds. Should real estate investors be panicking? Should we be mining for gold? Today's guest has been predicting a financial reckoning for some time now. He has been recently associated as the voice of doom and gloom, but I think he's really pointing out the inevitable — that people can't go into debt forever and expect a positive outcome. www.RealWealthShow.com

I'm not a very good golfer, and I'm even worse at Topgolf because there's an audience and alcohol involved. But I am excited to introduce today's guest, who came up with the wild idea of turning a high rise bar into a driving range. It's the epitome of cool, and has been quite a success. This interview was done live at Singularity University's Global Summit in San Francisco last month. You may have heard about Singularity through it's famous founders, Peter Diamandis and Ray Kurzweil. SU is located in the Silicon Valley and it's not only a business incubator, it's a global community that uses cutting edge "exponential" technologies to tackle the world's biggest challenges. I am happy to have as our guest today the Executive Chairman of Singularity University. Erik Anderson. Erik is the Founder and Chief Executive Officer of WestRiver Group (WRG) since 2002. WRG is a collaboration of leading investment firms providing integrated capital solutions to the global innovation economy. Anderson is also the Executive Chairman of Topgolf Entertainment Group, a global sports entertainment company. In this role, he has received numerous honors, including the Ernst & Young Entrepreneur of the Year Award. In 2018 and 2017 he was honored by Goldman Sachs as one of their Top 100 Most Intriguing Entrepreneurs. In 2018 he was ranked by Golf Inc.as the No. 3 most powerful person in the golf industry after being ranked No. 8 the previous year. Anderson is Vice-Chairman of ONEHOPE, a cause-centric consumer brand and technology company, most commonly known for their award-winning wine and world-class vineyard in Napa, Calif. Additionally,Anderson is the founder of America's Foundation for Chess, currently serving 160,000 children in the United States with its First Move curriculum. www.RealWealthShow.com

Today we're going to talk about how one of our Real Wealth Network employees is living the dream of "real wealth" on a budget. 10 years ago we put out an ad on Craigslist for a receptionist. It was 2009, smack dab in the middle of the Global Financial Crisis. Not too many real estate companies were hiring at that time, but Real Wealth Network was booming. The unemployment rate was massive, so we had thousands of applicants for the receptionist position. I was so overwhelmed I just asked people to show up at our next event to meet in person. Only 3 people showed up and Maggie Pike was one of them. She has been with us ever since in many roles, from receptionist, to event planner, to my assistant, to Director of our Real Wealth Academy, and now as our Director of Syndications. And, as of Saturday, she is now Mrs. McKinnie. Maggie and her new husband Marc are building a real estate portfolio while living their dream of traveling the world. They are such an inspiration, I decided to interview them for this week's Real Wealth Show. Enjoy! www.RealWealthShow.com

Buying your first rental property may seem like a monumental task. You have to work outside your comfort zone, to try something new and learn as you go. It's even more difficult if your first properties are out-of-state. So what does it take to pull the trigger on a plan to buy rentals many miles from where you live? How do you manage your properties if you don't live nearby? How do you protect yourself from bad tenants? How do you deal with local issues like storms and flooding? What kind of insurance and back-up reserves should you have for unexpected events? Our guest today is based in California. He took took the leap and has become a long-distance landlord with properties in four different markets. He's here to share his story and some of the things that he's learned. It's a great way to help potential investors make that first move, so let's find out how it's going for Alek Mukherji and his portfolio of single-family rentals. www.RealWealthShow.com

What were you doing during the 2008 financial meltdown? Perhaps you weren't invested in real estate so you weren't affected. Or maybe you got started buying real estate right after the crash and took advantage of record low home prices due to all the foreclosures. Or maybe you got hit hard like millions of Americans, handing the keys to your property back to the bank. Either way, it's important that we don't forget what happened just 10 years ago. Just like me, today's guest was in mortgage lending during the financial crisis. She had helped her family invest in homes in her own name and when they couldn't pay during the crisis she was hit really hard, and just like me, she learned some tough lessons. But after the crisis she became a realtor because she knew how to do short sales and she became very successful at that. During this time she was helping her relatives Craig and Arlene Turner invest in a duplex in Stockton, and they told her to listen to the Real Wealth Show. Now, she's been investing her realtor income through Real Wealth Network for the past four years and has learned a lot of lessons but considers it all a blessing. So let's find out the ups and down of her journey. www.RealWealthShow.com

There's been a lot of headline news about Detroit, specifically that you can buy a home there for $1,000. The Detroit Land Bank Authority is trying to put run-down and vacant properties to productive use. As such, it is now auctioning off thousands of publicly owned properties through its public platform Auction— and the bidding starts at $1,000. To put that price into context, as of June 2019, the median home price in the Detroit metro area is $163,100. And as of April 2019, the city's median household income is $30,344. So is this a good idea? I thought it would be a good idea to bring in our Detroit full service property provider /property manager to tell us what's going on. www.RealWealthShow.com

Our guest today was already retired when he found Real Wealth Network. He lives in California and had one rental property in Texas that he was managing himself. That was putting a damper on his fun years so he decided to exchange that one property for three rental homes in Ohio that he doesn't have to manage. What was a burden suddenly became an asset with a handsome cash flow. Find out how he did it on today's episode. You'll also find more information on how to do a 1031 exchange here (link). https://www.realwealthnetwork.com/learn/how-to-do-a-1031-exchange-rules-definitions/ www.RealWealthShow.com

It seems pretty straightforward. You want to make a little extra money, so you put your home up for rent on Airbnb while you're on vacation. But what liabilities do you face in doing so, and how can you protect yourself with one easy phone call? It also seems like a simple process to self-direct your IRA and place your rental property in a checkbook LLC. It's a good way to protect yourself as a landlord, but there are things you must not do if you don't want to put your entire IRA at risk. We'll be discussing these and more on today's show. Eric Nixdorf is one of the few real estate attorneys in the country who specializes in tax law, bankruptcy, and real estate. He's also a real estate broker and an investor himself. It's been a long time since we spoke, and since I love getting free legal advice, I thought I'd invite him back as a guest. Short-term rentals Long-Term rentals Landlord liabilities Airbnb liabilities How to rent your home Airbnb tips for hosts How to Airbnb your home Airbnb safety for landlords Legal tips for Airbnb hosts

Understanding your market is the first place one should start when vetting a real estate deal. If a metro area is not growing, neither will the value of your real estate. Our guest today is a leading, internationally-recognized expert on the topic. John Boyd founded The Boyd Company to help big companies like PepsiCo, Boeing, Hewlett-Packard, and JP Morgan Chase with their corporate site selection. With five decades of experience, he's gained deep knowledge of markets across the nation. He's a popular speaker on topics pertaining to business relocation, the economy, and the direction of new corporate development and jobs. And, he's here with us on the Real Wealth Show! Click here to learn about the best places to buy rental property in 2019 www.RealWealthShow.com

A few years ago, I went on one of Real Wealth Network's real estate tours to look at rental property in Detroit. And on that trip, I was surprised to meet a man who had flown all the way in from Sweden to join us! We have members from all over the world, but meeting a visitor from Sweden was a first for me. After I started talking to Magnus, I realized he was not just on the tour to see a few properties. He was building a full U.S. real estate portfolio. Several years later I saw him at another Real Wealth event and wanted to see how he was doing. He told me he'd learned a lot on his journey -- like the importance of not buying in flood zones, how to do a smooth 1031 exchange and why it's so important to screen tenants carefully. He's planning on joining us at our next event in Cleveland on August 10th, when all 15 property providers from around the country will be joining us. You can get the details here. www.RealWealthShow.com