Ritter on Real Estate

Today we are paid a visit from an amazing guest with so much value to offer all of you! Dr. Jeff Anzalone is the brains behind Debt-Free Doctor, a service that helps doctors and healthcare professionals to create passive income while still working in the medical space. Dr. Anzalone is a full-time periodontist as well as an author, and we get to hear all about his journey after medical school and how he found his way first into passive investing and then subsequently into active deals! His main goal in his real estate work is to show people how they can stop trading their time for money, and increase their income dramatically. One of his main points in our conversation is around the importance of mindset and how we have to get away from an outlook based on scarcity before we can experience success. We also talk about his best advice for finding and locking down deals, questions to ask deal sponsors, and why he is so dedicated to helping others reach a better financial life! Tune in to get it all!Key Points From This Episode:The beginning of Dr. Anzalone's career and how this pushed him to pursue passive income.Lessons that Dr. Anzalone learned around debt and income from the get-go. How a negative and worried attitude can impact your work and personal life.The steps that Dr. Anzalone took to address and change his scarcity mindset. Dr. Anzalone's skiing injury and how it influenced his attitude towards providing for his family.The first asset classes that Dr. Anzalone pursued and the early seminars he attended.Dr. Anzalone's motivation behind starting his Debt-Free Doctor business!The transition that Dr. Anzalone made from passive to active investments.  Reason doctors should be seriously considering new revenue streams as a failsafe. Tips and tricks for a healthy process of finding and securing deals!The most important question that investors should be asking of their deal sponsors. Proudest moments along the way for Dr. Anzalone: the enjoyment of his helpful work. Dr. Anzalone's best book recommendation for all of our listeners!The key to success for Dr. Anzalone: dealing well with and learning from failures.Links Mentioned in Today’s Episode:Kent RitterDr. Jeff AnzaloneDebt-Free DoctorA Doctor’s Guide: How To Create Passive Income With Real EstateDr. Jeff Anzalone EmailLSUDave RamseyThe Passive Income PhysicianThomas Black8Die With ZeroSpanxCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

Whether you run a small business or invest in real estate on the side, we are all trying to maximize our passive income. Our guest today, Bobby Thames, is an expert in doing just that. Bobby spent the first ten years of his career at PriceWaterhouseCoopers, becoming an expert in tax credits and cost recovery solutions. He has since started his own successful business, CENTIVE, which delivers tax and cost recovery solutions for real estate. Throughout his career, Bobby has done a multitude of cost segregation projects from sports stadiums, to bank branches, to restaurants. In our conversation, Bobby explains the many benefits of cost segregation and how to apply it to real estate. He shares the tool his company is developing to help small businesses take easy and effective control of their cost segregation, and how to use it. We also talk about Bobby’s work in the green energy tax credit space, explaining how politics can impact and incentivize decision-making in real estate. Join us for a deep dive into cost segregation and learn how you can start applying these lessons today!Key Points From This Episode:Meet today’s guest Bobby Thames.What Bobby learned during his first ten years at PricewaterhouseCoopers.An explanation of cost segregation.Why cost segregation is important for investors.Why it’s important to break down buildings into their various components so as not to diminish passive income.How the changes that the Trump administration made to the tax code in 2017 were beneficial for cost segregation, in large part because of his experience as a developer.How Bobby’s company goes about doing cost segregation for clients and buildings.Why Bobby and his company use the same tools that appraisers use and then do cost segregation.Increasing your expenses through cost segregation to lower your taxes.The reasons why it’s beneficial to do cost segregation for your business.Why cost segregation can vary greatly depending on the context.How small businesses can work with Bobby’s company to do cost segregation.The new tool that Bobby’s company is making available for small businesses.Energy-efficient home tax credits and how to qualify for them.Bobby shares his keys to success.The importance of networking and relationships as a small business owner.Links Mentioned in Today’s Episode:PricewaterhouseCoopersBobby Thames on LinkedInCENTIVHow To Win Friends And Influence PeopleKent RitterCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

Today’s guest, Brian Caffarelli is a partner at STS Consulting who helps his clients grow their revenues and margins through a broad spectrum of sales effectiveness and relationship management strategies. Using a unique combination of his prior sales expertise and the organizational psychology insights he has gained through working at STS Consulting, Brian assists organizations in selling better and more effectively by helping them see the value of putting trust before the sale. In today’s episode, he explains that what makes selling so difficult is the fact that buying is equally difficult, and it’s important to put yourself in the position of the buyer in order to meet them where they are on the buyer journey and best serve their needs. Tuning in, you’ll learn more about the buyer journey, from problem to deal, and come to better understand the trust equation, a concept borrowed from The Trusted Advisor by David Maister, Charles Green, and Robert Galford. Ultimately, what has served Brian in his career was taking the ‘trust before sale’ concept to heart and realizing that it wasn’t about helping the buyer understand him, but rather about helping the buyer understand themselves. This is an insightful conversation full of practical advice and wisdom, so make sure not to miss it!Key Points From This Episode:An introduction to Brian Caffarelli and his career trajectory.Brian explains that what makes selling difficult is the fact that buying is equally difficult.The value of the ability to guide someone in making an informed and competent decision.Hear about the buyer journey and why it is so important to meet them where they are at.How conflict can arise when the seller doesn’t take the time to understand the buyer's problem, which is step one on their journey.Understanding the partner before the deal and putting trust before the sale.The trust equation: earn credibility, demonstrate reliability, create an environment of professional intimacy, and manage out your self-orientation.The emotional, affective, or heart-oriented elements of the equation that are most powerful.Find out what intimacy means in this context and how to create it.Creating intimacy at scale with many different personality types, starting with listening.Why part of listening is asking really good, thought-provoking questions.Why Brian believes it’s all about helping the buyer understand themselves.The important role that showing vulnerability plays in earning the trust of others.Learn more about self-orientation and how to go about minimizing it.Some practical advice for listeners: think like a buyer, earn their trust, and be their guide.One question the buyer should ask the seller: what would you do in my shoes and why?Brian describes his proudest career moments; helping sellers realize selling isn’t so bad.Hear his number one key to success, which is understanding trust comes before the sale.Links Mentioned in Today’s Episode:Brian Caffarelli on LinkedInStrategic Talent SolutionsThe Trusted AdvisorKent RitterCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

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