The Wealth Elevator Podcast: Real Estate, Taxes, Investing

Brad Baldridge is a late-stage college planning specialist. He helps parents of high school students plan and pay for college using strategies such as merit aid, need based aid, tax planning, savings and investing for college, negotiating with colleges, scholarships and loans. Over the past 10 years Brad has directly helped hundreds of families plan and pay for college. He has provided in-depth college plans resulting in increased financial aid, scholarships, identification of the right schools at the right price, and better loans.• Coverdell has low contribution limits (2k per year) but the good thing is that it can be used for a wider range of education expenses• 529 is State sponsored and some states have special breaks based on where you live• Do the Coverdell first and then the 529 in most cases• Tuition, fees, computer, room and board, prescribed supplies, and groceries. Up to the cost of what the dorm would be. Sorry no beer• Need to start before high school or even when a toddler• You can transfer it to another brother or sister• Its rare to have too much money in a 529• Consider making a higher rate of return outside a 529• A 529 has a menu of choices just like the 401k• Show that you own nothing so that you don't make to much money to qualify for financial aid• The net value is what is important for financial aid• The look back is two years (prior prior year) but this changes from time to time• What about putting funds back in the grandparents generation? Gifts from grandparents are reported by income. So time it for the last year of college.• Can't use trusts to hide the asset, but can use irrevocable trusts• There are tax credits but check your taxable income so you don't phase outCheck out my Free Resources Below:1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!More info: www.SimplePassiveCashflow.com/fund2) Join a Social Club:Seattle Social ClubHawaii Social ClubPortland Social ClubBay Area Social ClubSo Cal Social ClubEast Coast Social ClubCentral USA Social Club3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube4) Once you have gone through the majority of podcasts feel free to sign up for a chat:20 Minute Chat with Lane5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across.6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email Lane@simplepassivecashflow.com if you want to try them out.More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k7) Please leave a review for the podcast!8) Coaching Program to get you to your first rental in 90 days!9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course:10) Summary of every Simple Passive Cashflow Podcast Hosted on Acast. See acast.com/privacy for more information.

Mark J. Podolsky (AKA The Land Geek) is widely considered the Country’s most trusted and foremost authority on buying and selling raw undeveloped land within the United States. He has been actively investing in Real Estate and Raw Land since 2001 and has completed over 5,000 unique transactions. Mark’s company Frontier Equity Properties, LLC is an A+ rated BBB real estate company.Topics that are covered in this episode:• Go on Treasury List to see who owns back taxes• Unsophisticated come into ownership of raw land• Buy it at 20-30% value, ensure so encumbrances• The neighbor's are the first people to buy if not maybe they want to sell theirs and now you have a larger tract• Use Facebook and craigslist• Use owner financing• 3-5% response rate of offers• All counties are different on how you get land listings• Use gegolook.com or use craigslist or what three words app• Facebook buy and sell groups• Use special warranty deed and full warranty deed• Blinkist• Stop being an optimizer once you have your simple passive cashflow number Check out my Free Resources Below:1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!More info: www.SimplePassiveCashflow.com/fund2) Join a Social Club:Seattle Social ClubHawaii Social ClubPortland Social ClubBay Area Social ClubSo Cal Social ClubEast Coast Social ClubCentral USA Social Club3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube4) Once you have gone through the majority of podcasts feel free to sign up for a chat:20 Minute Chat with Lane5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across.6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email Lane@simplepassivecashflow.com if you want to try them out.More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k7) Please leave a review for the podcast!8) Coaching Program to get you to your first rental in 90 days!9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course:10) Summary of every Simple Passive Cashflow Podcast Hosted on Acast. See acast.com/privacy for more information.

Hey guys I’m about to get naked here… I am personally making a shift in my portfolio to MFH syndications and wanted to see if you could help me find a buyer for my stabilized 10 property 1.2M portfolio.. 10 B Class properties in Birmingham/Atlanta/Indy (rents $900+/month)I have selected a few potential turnkey rental sellers, however, I wanted to leverage my network and see if we can cut the broker commissions out of it. I’ll give you details on how you can get the P&L for the past few years on every property but first...A few PSAs.National Save for Retirement Week: October 15 – 21, 2017Scam emails to get information from more and more wholesalersInsurance want 5% deductibleMy story - bought a couple of rentals in Seattle and 1031 exchange those to 10 SFH essentially turnkey rentals out of state in Atlanta, Birmingham, Indianapolis.The other day I asked the question on BP… did not get much of a response since BP is a platform for newbies or active investors who flip or wholesale homes. SPC is a platform with secret Facebook groups of profession W2 employees with some cash and little time on their hands.https://www.biggerpockets.com/forums/223/topics/481347-crossover-point-for-turnkey-rentals-vs-syndication-as-a-passiveAs I talked a few podcasts ago of a 10k repair, and multiple other headaches, my attitude for these SFHs are changing. Its kind of funny talking to the many of you that are setting up calls to get on the Hui Deal Pipeline Club to getting sent the deals I come across:https://simplepassivecashflow.activehosted.com/f/3Please go through the first 20 podcasts in early 2016 and love the story of this SFH buyer but then they are like WTF you are turning on us like a villain going to MFH."Find me an investor who has 50 SFHs and I will show you an investor who was invested under a rock and stoned himself to death with said rock" -ArchimedesAfter over a few hundred investor consultants over the past couple years here is what I tell W2 employees. For those who are able to save more than $30k a year or have substantial liquidity (over 200k), being a landlord and especially flipping is a lot of work. If you like it cool... but just remember why we got into this... To be free from a JOB. Directly investing in a turnkey rental or small MFH is a good way to start to learn and build up the war chest to go into my scaleable investments such as private placement syndications. Whatever you do, try to be as close to the investment as possible. This is the fundamental problem I have with Wall Street who takes too much fees off the hard working efforts of the middle class.The straw that broke the camels back...One of my Atlanta properties went over a changeover, tenant went MIA, went through process to evict - always start the time clock. Armed sheriff had to go and remove items on the street, dead cats were found, $5000 just to remove items, concern over the property could have been condemned. I got Proserve out of Atlanta to go in with radiation suits to clean it up, got a bill for $27K, wtf, some of the scope items were a little ridiculous like 500 dollars for gutters, 5000 for paint, and siding etc. I had them re-estimate it to give me the "dude I'm not a rich idiot price and got it lowered to 20K.There is no such thing as turnkey. Check out these disaster photos… https://photos.app.goo.gl/R4PZLuOLGHONO5Rl2Tony Robbins says “Things don't happen to you but for you.”This was a sign from above which many of you guys hear from me that I sort of believe in. I was already mentally making the shift to making the move. Going down the quote from the repair company it was clear that a lot of the scope items were a bit excessive and the pricing was inflated. This was to be expected, for example paint on rooms that did not really need painting for $5000 or new gutters cleaning for $500.If you want to see this document. Please leave me an iTunes review or send me an email referral to a friend and i'll send it over. Lane@SimplePassiveCashflow.comStages of trauma… denial, anger, sadness, motivation.What I know now I am able to now only make a high yield but a fraction of the effort. None of this screwing around sending docs to my lender in the evenings for a couple months to get one dinky SFH to cash flow a couple hundred dollars a month then do it all over again 20-50 times… then to have it all taken away with a large capex or turnover repair.Tony Robbins says “You destiny is shaped in your decisions.”We waste so much time making decisions. A lot of people myself included get shiny object syndrome when really its an excuse.This was my hero moment or burning of the boats moment to leave the security of a few thousand of passive cashflow a month to go liquid for a while. Hopefully Amazon will announce that Atlanta will be the new second HQ on their quest for world domination.One drawback about selling is about repaying a lot of depreciation recapture and capital gains going back all the way from 2009. As you remember I traded my two Seattle properties for the majority of these rentals via a 1031 exchange. This is why I am not a fan of a 1031 exchange no matter what you hear on a surface level on other podcasts. Another reason to keep listening and please do me a favor and share it with friends because we go deep on this stuff because I’m learning everyday. I’ll repeat I don’t like 1031 exchanges because many of us are going to graduate in large syndications and that is not a like kind exchange. Executing a 1031 most likely means you are going into a lukewarm deal and lose all your negotiation power as a buyer. But i'll expand on this at a later date.Picture of my back of envelope tax hitI want to be very clear… If you are not an accredited investor, sophisticated, or have a large sum of liquify... single family homes is the starting point for you. Too many call me with lofty goals and have list of pro’s/con’s of MFH vs SFH, but you need to know the basics before you screw up the big stuff. You have to pay your dues. Set that barrier to entry lower because most people won’t do anything.That said for a limited time I invite you listeners to make offers on my portfolio of SFHs “Lane’s Pac-10”. List price is 1.2M right about 1% Rent-to-Value Ratio (More info -http://simplepassivecashflow.com/podcast-3-rent-to-value-ratio/). Will need you to make sure you sign up for my Hui Deal Pipeline Club:https://simplepassivecashflow.activehosted.com/f/3I figure it was only fair if I showed you my naked photos… I mean P&Ls that you take a few minutes to complete a form with your investor profile on.And if you are listening to this after 2017 and would like to see how frequency of rental checks, vacancy, late payments, repairs, cap ex across all my properties please leave me an iTunes review or send me an email referral to a friend and i'll send it over.Lane@SimplePassiveCashflow.comMastermind Club: If you or someone you refer invests at least $50K into one of my future deals you will be invited to my exclusive Ali'i Mastermind with other 12-20 other serious investors to discuss deals and our own portfolios.Check out my Free Resources Below:1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!More info: www.SimplePassiveCashflow.com/fund 2) Join a Social Club:Seattle Social ClubHawaii Social ClubPortland Social ClubBay Area Social ClubSo Cal Social ClubEast Coast Social ClubCentral USA Social Club 3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube 4) Once you have gone through the majority of podcasts feel free to sign up for a chat:20 Minute Chat with Lane 5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across. 6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email Lane@simplepassivecashflow.com if you want to try them out.More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k 7) Please leave a review for the podcast! 8) Coaching Program to get you to your first rental in 90 days! 9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course: 10) Summary of every Simple Passive Cashflow Podcast Hosted on Acast. See acast.com/privacy for more information.

Christian Knight gives us his 4 techniques on how to control fear:1) Embrace the fear - removes complacency2) Manage your fear - Visualize3) Practice it and get experience4) Eyes on the prize Don't just die like a salmon. Do something meaningful. Take action and step out!- Jason StathamRemember why we are doing it. The "new rat race" is what the entrepreneur often finds themselves in where they have escaped the W2 job but have created an active business for themselves.- Jason StathamCheck out my Free Resources Below:1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!More info: www.SimplePassiveCashflow.com/fund 2) Join a Social Club:Seattle Social ClubHawaii Social ClubPortland Social ClubBay Area Social ClubSo Cal Social ClubEast Coast Social ClubCentral USA Social Club 3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube 4) Once you have gone through the majority of podcasts feel free to sign up for a chat:20 Minute Chat with Lane 5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across. 6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email Lane@simplepassivecashflow.com if you want to try them out.More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k 7) Please leave a review for the podcast! 8) Coaching Program to get you to your first rental in 90 days! 9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course: 10) Summary of every Simple Passive Cashflow Podcast Hosted on Acast. See acast.com/privacy for more information.

Former aerospace engineer who became passionate about real estate investing, built up a rental portfolio, and has now moved into syndicating larger multifamily deals. She works with a great group of investors helping people move their money out of the stock market and into physical assets - real estate.She lives in Colorado with her husband Alex, their 2-year old son Landon and enjoy the outdoors and activities like skiing, tennis, and biking.Some dialogue from the show:1) How much simple passive Cashflow are you making today and how are you doing it?:My husband and I are making about $6-7k/month in passive cash flow from our 10 properties (22 units).2) What is your Han Solo moment? Describe the resistance that was the catalyst for change:For me, the main factor was knowing I didn’t want to stay in my then-current career path for the rest of my life. I had already been a student of real estate for several years, but finally I knew that if I didn’t want to be tied to an unfulfilling job for the rest of my life. I had to take action and starting building passive cash flow to support my lifestyle. For me the combination of desire + education = action.3)Did you "burn the boats" or did you let it happen naturally? - was there an internal (you decided to make a change on own – what was thought process?) or external trigger (ie got fired from your job)?:One thing that I’m incredibly grateful for is having a like-minded husband who I can brainstorm with. We both knew we wanted to build income from real estate, but we weren’t sure how we wanted to do it at first. Things happened fairly naturally, but it was a bit of a journey getting to where we are now. Our first “investment” as a married couple was a house we decided to fix up and sell. That was a major learning experience, and the biggest thing we learned was that we didn’t want to be house flippers! After putting tons of sweat equity in the deal (even though we had a general contractor), we made less than $10k of profit on the deal. If we had kept it as a rental for just an extra year, we would have made $40k more from appreciation. Today, 5 years later, that house is worth nearly double what we sold if for after fixing it up. After that experience, we saw buy and hold real estate as the tried and true method of building wealth relatively passively, so we set the goal to buy 2 properties (2-4 units) per year and for the most part have stuck to that plan, and it’s worked out well.4) Worst life/business moment what did you do after? Lesson learned?:I’ll have to go back my previous example with the house flip. The main lessons I learned were not to use the same contractor as your house-flipping realtor since it creates a major conflict of interest, and also that you can make more income in a less stressful way by owning cash-flowing rental properties. I also learned that strong contracts can make all the difference in a sticky situation.5) Current 2-week experiment and 6-month project? (90-180 day goal):A mark of a high performer is to put your ego aside and accept the help of others and mastermind maybe folks can help you by you asking. My current 2-week experiment is to get my son to eat his vegetables! Just kidding, in reality my next big 2 week goal is closing on our 100 unit apartment syndication. My 6-month project is get the repositioning of the apartment community well under way and get into a good business rhythm. We’re going to do a major remodelling project on the unit interiors and improve the property overall by adding covered parking, backyards, and a spruced-up office. Maybe in 6 months we’ll even have another property under contract by then!6) What is your simple passive Cashflow number? Now imagine you had 2x that amount... Describe your ideal day, detailed routine, and what projects you are working on:My current simple passive cashflow number is $6-7k/month. My goal is $12k/month. Twice that amount would open up new opportunities. My ideal day would involve some sort of time outside, exercise, a good cup of coffee, involvement with friends and community, self-development like reading books, and plenty of time with my husband and son. We’d go on quarterly vacations and also monthly mini-vacations hiking and camping near our home. I also would probably keep working on real estate!7) Something that you have recently done or thought about “burning your cash” on for time savings or an improvement in quality of life:Right now I’ve been focused on using my cash to buy great real estate investments. If I had to splurge on something, it probably would be a new car. My 2004 Saturn is starting to show age! Typically though, I’ve mostly spent my extra cash on things like vacations where the memories will last far longer than some new gadget.8) Something that you changed your mind on?Our ego often gets in the way of greatness. One lesson I’ve learned over the years is that sometimes, it’s okay not to have the nicest property on the block. Especially when it comes to rental property. There are plenty of people out there who need a safe, clean, functional place to live. We also have Section 8 tenants at some of our properties, and while I was very apprehensive about it at first, there are definite advantages. Also, these types of properties typically provide much better cash flow than the newer “Class A” buildings out there.9) Tony Robbins identifies two large concepts that we are continually struggling to gain perfection at: #1-Art of Fulfillment and #2-Science of Achievement. If you died tomorrow and I were to email this to your kids a couple decades later… this is what they would hear:a) What is your secret/hack for the "Science of Achievement?" Any secret habits to share? Morning or Nighttime ritual?:I think the “Science of Achievement” for me can be summed up in one word - Perseverance. For me, I think I’ve been successful because I refuse to give up. Whether it was a tough homework assignment, a seemingly impossible-to-meet deadline, or navigating my first real estate deal, I found that if I kept at it long enough, the impossible became possible.b) What is your secret/hack for the "Art of Fulfillment?" How you do contribute back?:For me, the most fulfilling parts of the day is the time I spend with my husband and our 2-year-old son. I’m fulfilled by having a multi-dimensional life where I love working on my business and real estate, I love exploring the Colorado outdoors, and I love spending lots of time with my family.10) Anything we missed and contact info if you would like anyone to get a hold of you. URL?You can reach me at www.regencyinvestmentgroup.com through the Contact form, or just email me at sarah@regencyinvestmentgroup.com.Check out my Free Resources Below:1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!More info: www.SimplePassiveCashflow.com/fund 2) Join a Social Club:Seattle Social ClubHawaii Social ClubPortland Social ClubBay Area Social ClubSo Cal Social ClubEast Coast Social ClubCentral USA Social Club 3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube 4) Once you have gone through the majority of podcasts feel free to sign up for a chat:20 Minute Chat with Lane 5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across. 6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email Lane@simplepassivecashflow.com if you want to try them out.More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k 7) Please leave a review for the podcast! 8) Coaching Program to get you to your first rental in 90 days! 9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course: 10) Summary of every Simple Passive Cashflow Podcast Hosted on Acast. See acast.com/privacy for more information.

Topics that are covered in this episode:Uses infinite banking to create cashflow and make investmentsPurchased first property in South Africa in 2001USA leads in creative dealsStarted with an informal mentorship for themInfinite banking is what wealth Family Offices useSick, alone, broke in 2011 - the person that is responsible is youGet up in the morning and start movingWhat you value is not what someone else valuesAbundance/Scarcity MindsetIs this your highest and best value... if not table it or have someone else do itDocument the processes to outcource thingsA home gym would cut down on time travelingI am not entitled to anythingFigure out what takes your time and write down a process to outsourceEmail Lane if you have questions about infinite bankingSelf reflect and fIgure out what you are good atCheck out my Free Resources Below:1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!More info: www.SimplePassiveCashflow.com/fund 2) Join a Social Club:Seattle Social ClubHawaii Social ClubPortland Social ClubBay Area Social ClubSo Cal Social ClubEast Coast Social ClubCentral USA Social Club 3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube 4) Once you have gone through the majority of podcasts feel free to sign up for a chat:20 Minute Chat with Lane 5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across. 6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email Lane@simplepassivecashflow.com if you want to try them out.More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k 7) Please leave a review for the podcast! 8) Coaching Program to get you to your first rental in 90 days! 9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course: 10) Summary of every Simple Passive Cashflow Podcast Hosted on Acast. See acast.com/privacy for more information.

Topics that are covered in this episode:Chris Rush is a seasoned real estate investor, serial entrepreneur and founder of Sidereal Management, Inc.Starting his real estate career in the family business as a teenager in the 1980’s, Chris has extensive experience in property valuation and acquisition; multiple, simultaneous capital expenditure real estate rehab projects; property leasing and management; financing and refinancing; syndication, fundraising and financial selling; and marketing and property sales.Over the past decade through syndication, partnership and individual investments, Chris has acquired, repositioned and deposed of for profit over 1000 units in the Texas, Georgia, New Mexico, Arkansas and Washington markets.As a syndicator with Fannie Mae loan experience, Chris has an top-notch reputation among the multi-family investment community for providing exceptional value to investors and the community.Chris is a 1995 graduate of the U.S. Naval Academy, Computer Science, B.S. and served 10 years on active duty excelling as a Navy pilot flying missions worldwide.Started as a passive investorDo a friend-ventoryAsk what is your hourly rate to outsourceBe content while you are doing what you're doingEat the frog to get the important thingsCheck out my Free Resources Below:1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!More info: www.SimplePassiveCashflow.com/fund2) Join a Social Club:Seattle Social ClubHawaii Social ClubPortland Social ClubBay Area Social ClubSo Cal Social ClubEast Coast Social ClubCentral USA Social Club3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube4) Once you have gone through the majority of podcasts feel free to sign up for a chat:20 Minute Chat with Lane5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across.6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email Lane@simplepassivecashflow.com if you want to try them out.More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k7) Please leave a review for the podcast!8) Coaching Program to get you to your first rental in 90 days!9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course:10) Summary of every Simple Passive Cashflow Podcast Hosted on Acast. See acast.com/privacy for more information.

My Journey Home:Up to this point, my life has followed a steady, linear trajectory. But today... I took my own advise that time is your most important asset and I am happy to announce that I am speaking to you from Honolulu, Hawaii the new home base of Simple Passive Cashflow!As a teenager growing up on a small island in the middle of the Pacific, I was programmed to go to college on the mainland because the cost of living in Hawaii was too high and jobs compensation was pretty poor. With the cost of living in Hawaii being 10% more than Seattle or San Francisco and 20% less pay for equivalent jobs, living a comfortable life is no easy feat. I resolved to never return unless I was extremely well off financially - although I am not where I want to be - I have the knowledge and network to get me where I need in the next few years. Looking back on my path as a wide-eyed college student living away from my family for the first time in Seattle. And then started my Engineering career working for blood money for my first employer. I am a little dumbfounded how all that work through the traditional educational system only prepared me for a life as a worker-bee to save more and hopefully have enough after I gave away all that time during a 40 year career. But I do look back with gratitude since it gave me the means to save up for down payments and truly savour freedom when I achieve it.I wanted to inspire others to “Burn The Boats”... to do what you want, where you want, and with whom you want - whether its buying that first rental, quitting a crappy job, getting away from a bad boss, starting a family, or just telling your mother in law to shut up.Here are the 10 main reasons for my return to Hawaii and I hope you can find similarities to your journey:1) It's a seller's market.2) I don’t see many deals out in the market worthy of investing in. In fact, I can't find many that will make money. I don't believe in rent trends continuing upward. In my mind, that's called speculation.3) Hawaii is a great place to hide out and chill. Knowing when to “hold’em” and when to “fold’em” is half the battle. 4) Environment matters. I used to live in a really affluent area in Kirkland and my Mercedes is seriously the crappiest car on the block. Homes are filled with babysitters watching kids as their parents play Bejewelled on their I-Phones. I just don’t feel like I fit in. Seattle also gets dark at 3:30 PM in the Seattle winter and I dislike being cold all of the time. Talk about Kurt Cobain! Shoot yourself in the head!5) Embrace minimalism. My homeboy FI Fighter took the path of Extreme Financial Independence to race to a point where his income exceeded his expenses. At that point the plan is to escape the rat race which not only includes your job but the environment that contributes to lifestyle creep. On paper, Hawaii is one of the if not most expensive States to live in as evident with the median home costs of $800,000 and 8 dollar gallon of milk. The truth is in order to survive, Hawaii’s locals have to live frugally, in multiple generational households, and the housing stock/amenities is much lower quality (B tenant lives in a C building by US Mainland standards)… it's the price of paradise. From time to time we need to get back to basics and keep it simple.Jon Jandai | TEDxDoiSuthep6) A unique opportunity. One of my main goals is to create an investor network in Hawaii. People in Hawaii are very fiscally conservative and there is a lot of generational wealth passed on to younger generations. This creates a complex problem for people who have money and “don’t know how to fish.” My hope is to leverage the talents of others to create a non-profit financial education group based on the philanthropy of those who I will liberate from the rat race and will in turn help mentor others in basic personal financial education such as keeping a budget. If you are interested please reach out to me. The best companies are built on the foundations of culture and this is something I know everyone that comes to this website strongly believes in.7) Technology bridges oceans. Some will say that I need to be close to the action, but I feel technology allows me to be everywhere at once. I travel to Texas and Atlanta a lot and they are major airport hubs which offer direct flights to HNL. I am also a cheap ass (which I am working to change :p), so I take the red-eye to avoid paying for a hotel that day. My situation will actually improve since instead of a 4 hour flight from Seattle to Texas, I now have a full 7 hour shut-eye flight from HNL to DFW. 8) Serve the people of Hawaii. You might be asking why am I still working? Check out this previous talk I gave explaining why you should not quit your job. I’ll be honest although, I work a few hours a day and times on the weekend on building SPC and my multi-family syndications I don’t have enough work to keep my busy all the time. I recently interviewed for a job and I told them that I was looking to work for good people who treated me fairly and with respect. For the past few years I only worked for non-private entities because I thought that they are one of those busy days at work... my efforts benefit at least the people and not a corporate entity. And now it's great that my work benefits the place I grew up. But don’t get me wrong here… I still don’t really enjoy the work I do and it is not Ikigai or the alignment for four items: 1) What you are good at, 2) What you Love, 3) What the world needs, 4) What you can be paid for. 9) Passion+Lifestyle=Happiness. Tom Corley (from Rich Habits) identifies 2 ways self-made millionaires rose from poverty or the middle-class. Either you live below your means and wisely invest your savings or you pursue something you are passionate about. I am achieving the best of both worlds. Yes, Hawaii is more expensive on paper, but it is easier to live a simple life and not get caught up in the perpetual pissing contest that many working professionals subconsciously partake in. 10) Retirement is a state of being. People wear Hawaiian Shirts on a vacation to feel relaxed. Why not make everyday like that? I am no where where I want to be but on my way. With a little Shave Ice too. I want my everyday life to feel like an indefinite vacation. #LuckyYouLiveHawaiiLive in the moment. Life is short… pull your head out off your butt before the years fly by. Don’t you see those Facebook memories posts and think where did the years go? The day is long and the years are short. Get up get out and get some. WUKAR! Lanikai Sunrise 😁 Check out the youTube Channel.Check out my Free Resources Below:1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!More info: www.SimplePassiveCashflow.com/fund2) Join a Social Club:Seattle Social ClubHawaii Social ClubPortland Social ClubBay Area Social ClubSo Cal Social ClubEast Coast Social ClubCentral USA Social Club3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube4) Once you have gone through the majority of podcasts feel free to sign up for a chat:20 Minute Chat with Lane5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across.6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email Lane@simplepassivecashflow.com if you want to try them out.More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k7) Please leave a review for the podcast!8) Coaching Program to get you to your first rental in 90 days!9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course:10) Summary of every Simple Passive Cashflow Podcast Hosted on Acast. See acast.com/privacy for more information.

Topics that are covered in this episode:$85K Passive income with a furnished rental business and other rental investmentsHe started a meet up in San Francisco and Josh Dorkin from BiggerPockets contacted himAfter the 2012 BiggerPockets summit he copied the speaker list and called everyoneReplicate what people wantA lot of REI clubs are pitch-fest with profit sharingContact me with an iTunes review or referral to a new listener and I will let you know who to stay away fromSpeech or topic meeting appeal to new membersOpen circleDon’t be an ask-hole, always add with valueThink what the potential mentor needs and do itA lot of people what to be active when they really want to be passiveIn every interaction try and add valueGive away info and value to see who are the sharks out thereThere can be value to talking to people who do completely different type of investing thing using the same toolIP Targeting to target certain peopleBefore an event look people up and see who you want to meetHave a goal of what you are looking for and what you have to giveMake the initial contact to follow up laterJust realize that everyone else is there looking to people just like youIn today’s market J Martin is realizing that he can’t travel and purchase to properties and is travelingHe likes to deploy capital when the odds are best in his favorFunding & Deals work in inverseCheck out my Free Resources Below:1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!More info: www.SimplePassiveCashflow.com/fund2) Join a Social Club:Seattle Social ClubHawaii Social ClubPortland Social ClubBay Area Social ClubSo Cal Social ClubEast Coast Social ClubCentral USA Social Club3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube4) Once you have gone through the majority of podcasts feel free to sign up for a chat:20 Minute Chat with Lane5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across.6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email Lane@simplepassivecashflow.com if you want to try them out.More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k7) Please leave a review for the podcast!8) Coaching Program to get you to your first rental in 90 days!9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course:10) Summary of every Simple Passive Cashflow Podcast Hosted on Acast. See acast.com/privacy for more information.

Topics that are covered in this episode:800 houses in 2006 MFH was founded in 2008 crashMFH has all the repair crews in houseFocus on cash flowIn 2008 rents did not go down but the vacancy didTwo months is the typical turnoverIn the C and D class you will need to pay for 2000-3000 per turnoff effectively wiping out your cash flowFailures are seminars that teach usDon't flip in the high endDon't get a MFH 5 year baloon, instead get a 7-10 year termContinue to learn and make your own determinationBe conscious of your podcasts your listen to because that is the way you will goVAs is calling Apartment Owners - Use county assesors offive then secatary of state to get mailing address, lookup phone numbers"My boss lives in the area and was interested in buying your property"For discount Tony Robbins tickets to UPW four day event email Lane@SimplePassiveCashflow.com501C3 tax status for Non-Profit entityCheck out my Free Resources Below:1) If you are an accredited investor and afraid of the impending market correction?Get out the stock market and into the Simple Passive Cashflow Hedge Fund!More info: www.SimplePassiveCashflow.com/fund2) Join a Social Club: Seattle Social ClubHawaii Social ClubPortland Social ClubBay Area Social ClubSo Cal Social ClubEast Coast Social ClubCentral USA Social Club3) Subscribe to my podcast: Google Android Phones | Apple iPhone | Youtube4) Once you have gone through the majority of podcasts feel free to sign up for a chat:20 Minute Chat with Lane5) Make sure you sign up for my Hui Deal Pipeline Club to get sent the deals I come across.6) I am partnered with a start-up Virtual Assistant firm out in the Philippines. Shoot me an email Lane@simplepassivecashflow.com if you want to try them out.More info: https://drive.google.com/open?id=0B4gFjCt6Knc1U3YwYjdZRnYzN1k7) Please leave a review for the podcast!8) Coaching Program to get you to your first rental in 90 days!9) And finally... if you are just getting started Sign-up for Free access to the 10 Module Course: 10) Summary of every Simple Passive Cashflow Podcast Hosted on Acast. See acast.com/privacy for more information.