Ritter on Real Estate

Investing in real estate does not always require cash and, in this episode, you will learn how to invest in real estate without tenants, termites, or even toilets! Today’s guest is Mark Podolsky, AKA The Land Geek, author of Dirt Rich: The Ultimate Guide to Helping You Build A Passive Income and Founder of Frontier Properties, a reputable investment company that specializes in the acquisition of raw and developed land throughout the United States. He has been buying and selling land full-time since 2001 and, by working smart, not hard, he has completed over 5,500 land deals with an average ROI of over 300 percent on cash flips and over 1,000 percent on the deals where he sells with financing terms. He wants to help you do the same, so tune in to hear his insight and practical advice for taking advantage of bigger margins and earning 300 percent ROI in what Mark calls the “gateway drug” to bigger deals, cash reserves, and opportunities!Key Points From This Episode:Hear Mark’s story and how he discovered 300 percent returns in land investing.Find out how buying raw land to flip and sell actually works.The systems Mark created to automate the process of identifying land deals, from offer and acceptance to due diligence and closing.Taking advantage of big margins in an inefficient niche for hedge funds and private equity.Why Mark says land is a great “gateway drug” to bigger deals, greater cash reserves, and for gaining real estate experience.Some of the programs Mark has developed to help others through the process.Red flags to look out for, like superfund sites and what Mark calls “got-to-have-land ITIS.”Mark emphasizes that, while this is a simple process, “it ain’t easy.”What to ask your deal sponsor: how do you have skin in the game?Why Mark is most proud of remaining profitable between 2010 and 2012.His recommended books, which include The ONE Thing and The 12 Week Year.Learn about Mark’s number one key to success; meditation.Links Mentioned in Today’s Episode:Mark Podolsky on LinkedInMark Podolsky on TwitterMark Podolsky on InstagramThe Land GeekFrontier PropertiesDirt RichDiscover Wholetailing CourseFlight School Programwhat3wordsLG PassGeekPayUnited States Environmental Protection AgencyThe ONE ThingThe 12 Week YearKent RitterCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

Mike Morawksi’s journey in the real estate industry, and in life in general, hasn’t always been smooth sailing but it has certainly been colorful and full of great successes to make up for the low points. Everybody makes mistakes, but some are bigger than others; the mistakes that Mike made during the 2008 financial crisis led to him being sentenced to 10 years in federal prison. But we are not defined by our failures, we are defined by how we get back up from them. Mike took a situation that could have ruined his life and turned it into something that he is extremely proud of. In today’s episode, Mike candidly shares his mistakes and what he learned from them, as well as his numerous achievements and how they have shaped his life. One of these is the book he has written, Exit Plan, which is freely available as an Ebook, and is well worth a read. Mike has a wealth of knowledge, experience, and advice which will be extremely valuable to anyone in the real estate industry so don’t miss out on this one! Key Points From This Episode:The moment Mike decided he needed to change his life and what made him decide to pursue a career in real estate. Mike’s journey from house-hacker to coach, and everything in between. How Mike quickly scaled up from his first 11-unit deal.Decisions Mike made that led to him being sentenced to 10 years in federal prison.Words of wisdom from a man Mike met in prison, which turned his life around. The numerous achievements that define the majority of Mike’s time in prison.Why Mike decided to enter the coaching and training space when he left prison.What Mike loves about the multifamily real estate space.Advice for anyone in working in real estate who has not had to deal with a financial crisis yet.Mike explains why it is essential to have an exit plan (which is also the name of his book) and the different types of exit plans that exist. An example of one of Mike’s exit plans that he used in 2008.The “sweet spot” and suggestions for what you should be doing when you get to that point. What Mike is most proud of and the quality that has helped him get to where he is today.Book recommendations from Mike, and how you can get in touch with him.Links Mentioned in Today’s Episode:My Core IntentionsMy Core Intentions on InstagramMy Core Intentions on FacebookMy Core Intentions on YouTubeExit Plan by Mike MorawskiExit Plan [Free Ebook]Lehman BrothersUniversity of Minnesota The Inland Real Estate GroupBear StearnsThe 7 Habits of Highly Effective People by Stephen CoveyCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

Making your first steps in multifamily can be daunting. By equipping yourself with the right knowledge, you can build your success with confidence. Today we speak to Anthony Vicino, a best-selling author, former professional athlete, and serial entrepreneur who is committed to helping people maximize their return on life. In this episode, Anthony opens up his multifamily playbook to share his best tips and advice for aspiring investors. To kick things off, Anthony tells us about his professional background and how he first got involved in real estate. After hearing about his varied history as a pro athlete and science-fiction author, Anthony tells us how his ADHD supplied the foundations to his success. Following this, we hear about what frightens investors most, and what they can do to mitigate their fears. He touches on the wealth of opportunity that real estate provides, and helps boil down its nuances to simple concepts. Later in the show, we go into detail about Anthony’s company, Invictus Capital. We find out what their purpose is in real estate, as well as how they fulfill their aim to provide positive experiences for residents and investors alike. We also uncover how Invictus Capital adds value to its properties, as Anthony shares helpful company ideologies, like, “a dollar saved is worth more than a dollar earned.” Wrapping up the show, we ask Anthony about his keys to success. He tells us about the most influential books he’s read, what you should ask your sponsor before every deal, and much more. Join us today!Key Points From This Episode:Introducing today’s guest, Anthony Vicino, and his mission in multifamily.Anthony shares how he first got involved in real estate.How Anthony’s ADHD affected his choices early on in life.Hear about Anthoney’s varied professional life before he came into real estate.The moment when Anthony realized that real estate was the best way he could help others.Here about what frightens investors most, according to Anthony.Some of the ways Antony helps people take their first steps in real estate.Anthony shares more information on Invictus Capital and its position in real estate.How Invictus Capital adds value to its properties.Hear more on the Twin Cities market.Some of the ways Invictus Capital is sharing knowledge through marketing.Join us for our Keys to Success segment.Links Mentioned in Today’s Episode:Kent RitterAnthony VicinoAnthony Vicino on LinkedInAnthony Vicino on InstagramAnthony Vicino on TwitterInvictus CapitalMultifamily Investing Made Simple podcastPassive Investing Made SimpleMeditations on AmazonAntifragile on AmazonCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

Real estate is fun and rewarding, but success in this game is no walk in the park, so it is of utmost importance to have a mindset of unshakeable positivity. Chris Salerno has achieved some remarkable things in a short space of time and today we talk to him about what they are and the role of mindset in his success. Our chat begins with an introduction to Chris, his journey into real estate, and how he realized that multifamily was the niche for him. He talks about excelling quickly in his first job and then going on to start CQ Capital which now has over $55 million and 500 units under management. Chris gives us the lowdown about the markets and asset classes he focuses on and his efficient method of vetting deals to stay afloat in the competitive niche he has chosen. He also shares a few golden nuggets for how to plan and set deadlines to ensure that time gets used as efficiently as possible. In the next part of our conversation, we ask Chris about the habits he practices and the resources he consults to keep operating on such a high level. Here he drills down on the absolute necessity of taking care of the mind by meditating, thinking positively, and doing what you love! For a conversation packed with actionable tips from Chris today, be sure to tune in!Key Points From This Episode:An introduction to Chris and his impressive growth in the real estate space.Why Chris loves multifamily and a window into the assets CQ Capital has under management.The different markets and asset classes Chris focuses on and why.Strategies Chris uses to stay afloat in such competitive markets.The passion Chris feels about competing in this competitive market.The importance of mindset for Chris and habits he uses to stay so energetic.How to nurture and nourish your mind and use it to grow your business and success.Shifting to a mindset of positivity and how this brings in opportunities.How Chris prepares for his busy schedule by factoring in downtime with family.The value of intentionality and planning ahead for being more efficient and productive. Squeezing the most out of meetings and projects by setting time limits and deadlines.Why the most important question investors should ask sponsors is about collections.Pride Chris felt when he realized he was good at learning after finding real estate.Why Chris recommends Think and Grow Rich and Mistakes Millionaires Make.Final words from Chris about the main key to success.How to get hold of Chris and learn more about QC Capital!Links Mentioned in Today’s Episode:Kent RitterChris SalernoQC CapitalWarren BuffettThink and Grow RichMistakes Millionaires MakeCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

A large section of the population has bought into the idea that the best and safest way to prepare for retirement is by setting up a 401k and leaving it to accrue over time. Joey Mure and Russ Morgan are on the show to dispel this and other myths that they argue make up the 'Wall Street mindset', and share some healthier strategies for setting yourself up for a wealthy and secure future. The basis for their philosophy comes from the idea of responsibility and self-belief; they argue that by outsourcing the control of your savings and financial plan, you shortchange yourself, the results of which will be dramatically evident down the road. Our guests talk about the simple nature of the formula for a better strategy but importantly do not shy away from the fact that it will take some dedication and hard work. They really drive home the idea of education and investment in the self and show how these steps are the best way to a brighter future for you and your family. We also get into the topic of debt, and Joey and Russ share some balanced opinions about this divisive area, which may lead you to reconsider what you have been told! So for all this and a whole lot more from two inspiring and progressive financial minds, be sure to listen in!Key Points From This Episode:Our guests' professional journeys and how they arrived at their current philosophy. Unpacking the 'Wall Street mindset' and how it contrasts with the approach espoused by Russ and Joey. Getting clear and honest about what we really want instead of listening to brokers. Joey and Russ' opinion on the way 401ks have been falsely advertised as protective.Taking control of our savings and retirement planning instead of outsourcing it. The reality of the results of relying on a 401k for savings and retirement preparation.The three-step process of financial freedom and the formula to follow to secure your future. Weighing the role of debt in a good financial plan. The beginnings of a journey towards greater cashflow and security. Why an active approach to investing in oneself is vital to your finances in the long run. The 'keys to success' with Joey and Russ! Questions to ask, achievements, books, and more!   A special offer from our guests and how to find and connect with them online. Links Mentioned in Today’s Episode:Kent RitterWealth Without Wall StreetFREE Financial ScoreCard Joey Mure on LinkedInRuss Morgan on LinkedInBecoming Your Own BankerR. Nelson NashCats in the CradleNeil Young Wade PfauRobert KiyosakiCashflowCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

Our guest today is a man who needs no introduction; if you are an avid real estate podcast listener, you’ll definitely know this name. On this episode, we are excited to introduce Neal Bawa. Neal is a technologist who is universally known in real estate circles as the mad scientist in multifamily. He treats his $250 million-plus portfolio as an ongoing experiment of efficiency and optimization. Neal serves as the CEO and founder of Grocapitus, which is an iconic data-driven, commercial real estate investment company, and also serves as a CEO of Multifamily U, an apartment investing education company with over 5,000 students attending his multifamily seminars, and hundreds attending his magical multifamily boot camps each year. Tune in and join us today as we talk to Neal all about numbers, measurements, adapting, and succeeding. Neal shares a lot of key information and tips about using data to your advantage, reinventing and adapting to ensure your success, his opinion on the strongest asset classes, and what investors need to be paying attention to. He also unpacks the five ratios that you should be tracking, so stay tuned for all this and more!Key Points From This Episode:Hear more about who Neal is, his background, and what led him into multifamily.Looking at data trends: the goal is to constantly be reinventing yourself because that's what data tells us to do.Neal shares the top strongest asset classes, pre-and post-pandemic: e-commence boom.How multifamily has stayed the average most favored class over the last six to seven years.Neal talks about how the pandemic has impacted the class C price: old versus new.What do investors need to be paying attention to, according to data, a year from now: no bad news in multifamily.Neal explains why the next twelve months are gold, even if bad things will happen after.Innovations that Neal is implementing now that keep him ahead of the curve: cameras, sell covered-parking, calculating and tracking key ratios.The five ratios:The number of leads that your property seized each week.The number of appointments that were set from those leads.The number of people that actually showed up at the property.The number of people that signed apps.The number of people that became leases.What things in his portfolio would he consistently measure: unit turn.Neal’s message to passive investors at this point: make sure your syndicator is both excited and afraid.The one question that every investor should be asking their deal sponsor: what was their worst deal and how did they deal with it.What Neal is most proud of throughout his career, thus far: their employees and how their company has molded itself into an extremely customer-friendly place.A book everyone should read: The Miracle Morning.Neal’s number one key to success: measure everything, and adapt.Links Mentioned in Today’s Episode:Neal Bawa on LinkedInNeal Bawa on TwitterMultifamily University Multifamily University on YouTubeThe Miracle MorningCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

Achieving financial freedom requires having the right mindset about money. Having found his own financial freedom at the age of 35, financial coach ‘Tightwad’ Todd Miller knows how to safeguard and grow wealth. Today we speak with Todd to hear his insights on preparing for your financial freedom. After sharing how he went from the corporate world to becoming an investor, Todd unpacks how he helps his clients to become financially independent. From curtailing your expenses and raising your financial awareness to shifting your perspective on what’s important in life, we touch on the key aspects of effective wealth management. We discuss the small actionable steps that you can take to set and stick to budgets while also diving into debates around saving versus investing. Later, we talk about communities that can help you build your wealth, along with questions that you need to be able to answer and that can guide you in creating investing goals. We wrap up our conversation by hearing Todd’s book recommendation, what he’s most proud of, and the top key to his success. As Todd explains, your path to financial freedom starts now. Join us for Todd’s expert advice on taking your first step. Key Points From This Episode:We introduce financial coach Todd Miller.Todd shares details about his journey to financial freedom.How Todd discovered and then learned about real estate investing.What Todd does to help his clients grow their wealth.Hear what goes into planning for your financial freedom. Exploring the mindset shift that’s needed to attain financial freedom.Advice on budgeting and holding yourself accountable.We ask Todd how long it takes to secure financial freedom.Debates around saving versus investing.Why you should act now to ensure a stress-free retirement.The questions that every investor needs to ask themself.Todd’s top book, what he’s most proud of, and his number one key to success.Links Mentioned in Today’s Episode:Todd Miller on LinkedInTightwad ToddDave RamseyPersonal Capital MintChooseFIYour Money or Your Life on AmazonCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

The traditional methods of building wealth, like investing in postgraduate degrees, working for up to 50 years in your W2 job, and putting money towards your 401(k) mutual funds are all good and well, but they’re not the best strategies out there. Why not begin with the end in mind and have multiple streams of income today? Today’s guest, Lane Kawaoka, can help you do just that. Lane uses his engineering degree to reverse engineer the wealth-building strategies that the rich use in his top 50 investing podcast, Simple Passive Cashflow. He owns 4,200 rental units and is the leader of the Hui Deal Pipeline Club, which has acquired over $350 million of real estate by syndicating over $40 million of private equity since 2016. In this episode, Lane shares his advice for doing what the rich do by diversifying into real estate and investing with private operators, and he explains why he believes you should not invest in retirement accounts, how taxes play into your investments and his three rules for investing. Tune in today!Key Points From This Episode:Hear about Lane’s background and what sparked his interest in passive investing.Lane’s journey from his first passive investment to a business and a podcast about it.How the podcast originated because of the “dumb questions” his friends asked him.The virtual events that have adapted to COVID and the limited time of those with families.Do what the rich are doing by diversifying your investments into real estate.The benefits of investing with private operators and cutting out the middleman.Four reasons why Lane believes you shouldn’t invest in retirement accounts.How taxes play into real estate investing; using your passive activity losses to offset passive income gains from an asset or deal.Some of the lessons Lane has learned along the way, like letting every dollar work for you.The importance of educating yourself on the benefits of using podcasts and blogs.Why Lane believes that anybody can do real estate investing; it’s an endgame strategy.Lane’s three rules for investing: it must cash flow, be a hard asset, and be leverage-able.Keys to Success: the value of building organic relationships, why Lane is so proud of quitting his day job, and book to read.Lane’s one key to success: figuring out the next thing to do and executing it to completionLinks Mentioned in Today’s Episode:Lane Kawaoka on TwitterLane Kawaoka on LinkedIn Simple Passive Cashflow PodcastThe Millionaire Real Estate InvestorCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

Charles Carillo was introduced to real estate by his dad at a young age, and although it didn’t immediately appeal to him, since finding his feet in the industry in 2006, he has never looked back. He shares the story of how he took his very first property from 0% occupancy to 100% occupancy in 90 days. Although the work Charles did on that property is still his proudest moment, he has come a long way since then, and as managing partner of Harborside Partners, he is now in charge of numerous properties. Charles explains why having more properties in your portfolio is far safer than having less, offers advice for making the property management process as seamless as possible, and gives examples of metrics that he uses to determine how his sales are doing. We also delve into the reasons that Charles prefers to work with investors who have worked through part downturns, the importance of setting goals, the elements that give you a competitive advantage in the real estate sector, and more. Remember, you aren’t going to be hitting home runs all the time with real estate investing, but when you do it will be worth the wait!   Key Points From This Episode:The introduction to real estate Charles received from his dad, and why it didn’t appeal to him at first.Why Charles will only buy in certain asset classes.  How Charles’s company has grown from 2006 to the present. The factors which motivated Charles to enter the real estate industry and how his approach differed from his dad’s. Benefits of scaling up and owning lots of units. Advice for making property management as easy as possible, whether you are doing it yourself or using a company.Ways you can still keep a level of control of your properties if you are using a management company.Team members and VAs are vital parts of Charles’s business. Where Charles does his marketing for his properties.Examples of metrics that Charles’s uses to determine how his sales are doing.The elements which give you a competitive advantage: capital, relationships, and more units. Why Charles likes working with investors who have gone through downturns in the past.Charles shares why the first property he bought was the proudest moment in his career, and probably the craziest. Real estate investing isn’t all about the home runs. Charles’s top two book recommendations.Why setting short-term and long-term goals has been so helpful to Charles.How you can get in touch with Charles if you want any advice on setting your own goals!Links Mentioned in Today’s Episode:Charles CarilloHarborside PartnersGlobal Investors PodcastThe Art of the DealMark CubanZillowApartments.comcraigslistThe 80/20 PrincipleCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

Everyone embraced the stay-at-home and work-from-home instructions at the beginning of the global coronavirus pandemic, quickly adjusting their work, organizations, companies, and lifestyles. Offices became somewhat redundant and remained vacant, begging the question if we will ever use them again. Almost a year later, however, things are shaping up to be a lot different than originally expected. Today’s guest is Brian Adams, the President and Founder of Excelsior Capital, where he spearheads the investor relations and capital markets arms of the firm. He has 10 years of experience in real estate private equity. Before forming Excelsior Capital, Brian co-founded Priam Properties in 2010 and provided leadership and direction for them in connection with capital markets, investment management, and investor relations. Tuning in today, you’ll find out what got him interested him in real estate, why he changed his career path, how COVID has impacted his company and their portfolio, and the effect of the recency bias. Brian also shares some interesting takeaways on the commercial market and how office space is shaping out much differently than predicted. Tune in today for all this and more!Key Points From This Episode:Hear more about Brian and how he became interested in real estate.Why Brain didn’t want to end up or become like the 60-year-old lawyers he met.The concept of the Hero’s Adventure: taking the step while being ignorant to the risk!More about Excelsior Capital and what they are working on.Hear about the assists they are focused on and the deals they are working on.How 2020 and COVID have impacted their portfolio.How COVID has impacted the thoughts behind office space; pre-and post-pandemic.How recency bias affects us all: it’s not going to be the same as before.Hear how their strategy has changed going forward: the suburban office deal challenge.Brian explains what a one-story flex is: that area two to three miles from your airport.What a traditional commercial deal looks like for an investor and how it is structured.The types of investors investing in these deals: taxable, accredited investors only.Why Excelsior Capital’s direct response to feedback is cash on cash.How they plan to continue to grow over the next couple of years.Brian’s perspective on cap rates in the commercial market sectors.One question that every investor should ask their deal sponsor, according to Brian.What Brian is most proud of in his career: pushing through the painful process.What books you should be reading, like The No Rules Rules.The number one key to success: grit!Links Mentioned in Today’s Episode:Brian Adams on LinkedInBrian AdamsExcelsior Capital GroupThe No Rules RulesCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio