Ritter on Real Estate

Investing is like being in a dark forest with only a lantern to guide you. By staying still, you can only see what’s around you — just enough to take your first steps. By taking action and moving forward, you get further along the path and get to see what’s ahead. Today we speak with career Marine, Brian Briscoe, about the action that he took to become a high-return investor. After chatting about his entry into real estate and how he discovered multifamily investing, Brian talks about the intense learning process he underwent to become an investor. We then dive into Brian’s business philosophy, touching on where he invests along with his investing model. We ask Brian what he looks for in sponsors and in underwriting and his answers highlight the importance of credibility, and why you should look closely at your property’s break-even rates and reserve funds. Brian discusses how COVID has impacted his portfolio and what he’s done to adapt to circumstances. Near the end of the episode, we ask Brian to share the keys to his success. Tune in to hear what steps have led to Brian’s success and the books that have inspired him to pursue financial freedom. Key Points From This Episode:Brian shares his journey as a career Marine and real estate investor. Pivoting toward multifamily investing after buying single-family homes. Details about what Brian did to learn about multifamily investing.Top reasons why Brian invests in commercial multifamily real estate. Hear why Brian’s group looks for deals in South Carolina.Brian discusses his investment group’s ‘forced appreciation’ business model.The importance of investing with credible partners. Red flags and what Brian looks for in good underwriting.How COVID has impacted Brian’s portfolio and how he’s adapted to circumstances.Brian shares the one question that you should ask every deal sponsor. Reflecting on the most significant lessons that Brian has learned from his top books. Why taking action has been the number one key to Brian’s success.Links Mentioned in Today’s Episode:Kent RitterBrian Briscoe on LinkedInBrian Briscoe EmailDiary of an Apartment Investor PodcastFour Oaks CapitalRich Dad Poor DadBrandon TurnerThe Book on Investing In Real Estate with No (and Low) Money Down Michael BlankRod KhleifJoe Fearless Best Ever ShowEric ShirleyBrian MallinTodd ButlerWalmartAmazonThe Check us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

As a big influence on Kent, Hunter Thompson has had a notable hand in bringing about the success of this very podcast. He joins us on the show today to talk about his remarkable process of finding the right deals and making the most of the opportunities that he finds. As someone fully committed to the vetting and due diligence processes, it is not surprising that Hunter is a step ahead of the rest, putting in the extra work in order to reap the rewards. And this extra work is now being shared with the public in the form of his podcast, book, ebook, and more! In our conversation today, we talk about the current status of passive investing, the momentum it has gained in the last few years, and the influence of the larger picture of the economy on the real estate markets. Hunter gives us a great idea of what he and his firm actually do, their specialty work, and the philosophies that inform their outlook. We get into some very simple actionable steps, like which questions investors should be asking when interviewing sponsors, and the asset classes that might be the best to look into right now. Our guest shares some of the things that have influenced his path; books, personalities, and most importantly a steadfast dedication to achieving greatness. Be sure to listen in to catch it all on today's show!Key Points From This Episode:The passive investing revolution that is growing from small beginnings. Hunter's model for vetting sponsors and due diligence on potential deals.The important relationships that Hunter developed and learned from for his own business. Hunter's decision to actively seek out deals and the types of opportunities he looks out for. How Hunter goes about avoiding the damage caused by bad sponsors. Considering the macroeconomic picture and how this impacts real estate investments going forward.Performance during the pandemic and the methods that have aided Hunter and his business.The meaning behind the name Asym Capital and how this ties into Hunter's philosophy.Some of the asset classes that Hunter is most excited about currently and looking forward.The one question that Hunter believes all passive investors should ask sponsors.Hunter's greatest achievement; helping amazing individuals find their feet in the business! The books that inspired and influenced the kind of book that Hunter wanted to write.Mimicking greatness and sacrifice; the two components that have led to Hunter's success.Getting hold of Hunter and connecting with Asym Capital!Links Mentioned in Today’s Episode:Kent RitterHunter Thompson on LinkedInRaising Capital for Real EstateRaising Capital for Real EstateAsym CapitalAsym Capital on Twitter Cash Flow Connections Podcast111 Questions  Passive Investors Should Be AskingCFC Mentorship ProgramCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

Googling real estate asset protection will result in pages filled with misconceptions, like that asset protection is only for high net worth investors or that all you need to protect yourself is an LLC. To separate the truth from fiction, we welcome back Brian T. Bradley who, since our last conversation, has been voted America’s Best Attorney for 2020. After summarizing key asset protection strategies and how they act as different layers of insurance, we dive straight into the top asset protection myths. You’ll hear why you should never set up your LLC as a single-member company and how to decide which state to set up your limited partnerships in. From our special focus on LLCs, we explore how anonymity can work in your favor but why it doesn’t offer any legal protection. An important point, Brian highlights that asset protections don’t exist to hide your assets. Instead, they’re a holistic strategy to protect your assets from risks that range from getting into a car accident to someone injuring themselves on your property. We also touch on the power of offshore trusts and how Quantum Living Trusts can offer incredible protection for families who have under one million dollars in net worth. Tune for real insights into asset protection and to learn the asset protection questions that you should be asking your attorney or CPA. Key Points From This Episode:A warm welcome back to Brian T. Bradley, America’s Best Attorney for 2020.Brian provides an overview of asset protection and how it leads to peace of mind.Unpacking the first asset protection misconception; that all you need is an LLC.Why you should never set up your LLC as a single-member entity.Hear the answer to the common question — “In which state should you set up your LLC?”Setting up your limited partnership in a state with strong charging order jurisdictions.Why a lack of case law doesn’t necessarily mean that you should create a series LLCs. The limits of anonymity and where it can work in your favor.How asset protection is designed to protect your investments, not hide them. The powerful protection that comes from setting up an offshore trust.How a Quantum Living Trust can afford incredible protections to families with under one million dollars in net worth.Changing your asset protection strategies and the ease of converting to a bridge trust. Why you should be wary of any law firm that only talks about selling you an LLC.How your assets can be threatened by circumstances that aren’t related to your business.Important questions that you should ask your asset protection attorney. Links Mentioned in Today’s Episode:Brian T. Bradley on LinkedInBrian T. Bradley EmailBrian T. Bradley on TwitterBradley Legal CorpQuantum Living TrustRitter on Real Estate Episode 16 Best Attorney's of AmericaCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

There’s always a deal to be made. And in uncertain times, conservative underwriting can help you land a deal that will make you money, even in the worst-case scenario. Today, we speak with Ashcroft Capital Director of Investor Relations, Travis Watts about the value of conservative underwriting and what he did to become a full-time passive investor. We open our conversation by exploring Travis’s journey into real estate. After talking about how your free time builds up in direct proportion to the increase to your income stream, we touch on the challenges of scaling your investments. We then dive into how Travis overcame these obstacles through self-educating and discovering multifamily syndication — an ideal investment path for his portfolio. On the topic of his portfolio, Travis opens up about the returns he’s had during the pandemic and why he’s making deals in different states. A significant theme this episode, Travis provides his perspective on why he makes deals during times of economic uncertainty. Following this, Travis unpacks what he looks for in deals while highlighting the value of conservative underwriting. Another insight, Travis emphasizes the importance of finding the right sponsorship team. As he explains, you don’t bet on a deal. You bet on the people making the deal. Near the end of the episode, we chat about why education has been Travis’s key to success. Tune in to hear more of Travis’s top investing tips, with specifics on how he became a full-time passive investor. Key Points From This Episode:Travis shares details about his background and how he got into real estate.How Travis went from full-time active investing to passive investing. Building up your free time alongside your income stream increases.The challenges of scaling your investing and how property problems always arise. Self-education as Travis’s chief tool for getting into passive investing. Hear why Travis mainly invests in class B and C multifamily assets.The importance of delegation and relying on experts to do what they do best.Travis unpacks what his returns currently look like and why he’s making deals across the US.Why there’s “always a deal to be had,” despite the state of the economy.What Travis looks for in deals and how this is informed by his investing philosophy.The value of conservative underwriting and the metrics and levers that Travis uses. Links Mentioned in Today’s Episode:Travis Watts on LinkedInTravis Watts on InstagramTravis Watts on FacebookTravis Watts on BiggerPocketsTravis Watts Free GuideAshcroft CapitalIf you enjoy the guests and content please subscribe and leave a review.  Your reviews matter and each one has a major impact on the success of the show!Want to get more investing resources?Visit kentritter.com for more free passive real estate investing resources including videos, blogs, and tools visitInterested in Investing alongside my firm? Contact me at Check us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

Have you ever caught yourself tinkering with your spreadsheet, trying to make your deal work? Your mind tells you that it’s a solid deal but that nervous feeling in your gut tells a different story. AdaPia d'Errico, today’s guest, would tell you to listen to your gut. It might save you a lot of money and grief down the line. AdaPia, Principal and VP of Strategy at Alpha Investing, has learned this the hard way. Despite her due diligence, she was defrauded out of her life savings. We talk about this experience and how she’s learned to trust her intuition over her ego. As AdaPia explains, when we think that we’re acting rationally, our judgment may be clouded by a combination of 188 cognitive biases. We discuss how we unconsciously process huge volumes of information that we express through our feelings. AdaPia then shares the science that proves the saying that you should “trust your gut.” After chatting about the value of aligning yourself with the people that you work with, AdaPia opens up about her new book, Productive Intuition: Connecting to the Subtle. We touch on her motivations for writing and what readers will get from her book before exploring the key concept of your “inner authority.” Near the end of the episode, we talk about the power of meditation and why we shouldn’t be scared of taking calculated risks. According to AdaPia, everything that has ever gone wrong in her life came down to her “not listening to my intuition.” Tune in and hear why your intuition may be your best investment advisor.Key Points From This Episode:Introducing AdaPia, her background, and how she met host Kent Ritter.How AdaPia was defrauded of her life savings, despite the deal looking good on paper.Trusting your intuition and not being too proud to ask for help. Why you’re not always making rational decisions; we’re affected by cognitive bias.Hear about your enteric nervous system, the science behind “trusting your gut.”The importance of aligning yourself with the people that you work with.Paying attention to how you feel when you talk to sponsors. AdaPia shares details about her new book, Productive Intuition: Connecting to the Subtle.Sharing our painful experiences so that others can learn from them.Who AdaPia’s book is aimed at and the main points she wants readers to come away with.The danger of “falling in love with a deal”; it means that you might not be thinking clearly.Appealing to your “inner authority” for validation instead of an external force.  Getting to a centered place, where you connect with who you are and trust yourself.Using tools like meditation to slow your thinking and clear your thoughts.How nothing has ever been certain and why we shouldn’t be scared of taking calculated risks.If you enjoy the guests and content please subscribe and leave a review.  Your reviews matter and each one has a major impact on the success of the show!Want to get more investing resources?Visit kentritter.com for more free passive real estate investing resources including videos, blogs, and tools visitInterested in Investing alongside my firm? Contact me at kritter@birgeandheld.com.My company Birge and Held Asset Management have a twelve-year track record creating sustainable wealth for oveCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

The SEC recently adopted amendments to the “accredited investor” definition, one of the principal tests for determining who is eligible to participate in private capital markets, and today’s guest, Kim Lisa Taylor, is just the person to explain them. Kim is a nationally recognized corporate securities attorney, speaker, and author of the number one Amazon bestselling book, How to Legally Raise Private Money. She’s is also the founder of Syndication Attorneys, PLLC, and investormarketingmaterials.com. Its purpose is to provide quality legal advice, offering documents and professionally designed marketing materials for clients nationwide. Kim has been a responsible attorney for hundreds of security offerings and she routinely teaches subjects related to legally raising private money in front of groups, ranging between 50-1000 plus attendees. In this episode, Kim explains the SEC’s new accredited investor guidelines, who is eligible, and what the requirements are, so make sure to tune in today!Key Points From This Episode:Kim explains the definitions of an accredited investor and how the definitions for retail investors specifically have changed.Very few people that have certain securities licenses have been excluded, says Kim.Other categories that pertain to retail investors – knowledgable employee of a private fund, and spousal equivalent.Spousal equivalent is an attempt to make it more inclusive for previously excluded groups.While you needn’t be married to be eligible, you still have to meet the net worth requirement.Kim explains how definitions have changed for non-retail and quasi-institutional investors.The third category is charitable organizations, where their assets exceed $5 million.New additions include SEC or state registered investment advisors, rural business investment companies, and foreign-organized entities.An additional qualifier is family offices with at least $5 million in assets under management.These rules are not in effect yet – they need to be published in the federal register and cure.Kim explains the necessary requirements for Regulation D Rule 506(c) and 506(b) offerings. There is a lot of value in employing an attorney to help you read between the lines.Kim thinks an accredited investors test or more formalized program would be a great idea.The way Kim suggests that investors get accredited is they attend the same training classes the syndicators they are investing with do.You must understand the distribution waterfall, otherwise Kim would be cautious of the deal.If you enjoy the guests and content please subscribe and leave a review.  Your reviews matter and each one has a major impact on the success of the show!Want to get more investing resources?Visit kentritter.com for more free passive real estate investing resources including videos, blogs, and tools visitInterested in Investing alongside my firm? Contact me at kritter@birgeandheld.com.My company Birge and Held Asset Management have a twelve-year track record creating sustainable wealth for over 2,000 investors through high-quality multifamily investments.https://birgeandheld.comThank you for listening!Check us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

Everyone has their own idea of what financial freedom looks like. To Lloyd Edge, an investor boasting a multi-million dollar property portfolio, financial freedom means having the security to live your desired lifestyle, live in your dream house, and follow your passions. In today’s episode, we speak with Lloyd about how he secured his financial freedom through real estate investing. We begin our conversation by tracking his journey from being a teacher to becoming an investor. Lloyd talks about his motivations and his need to build something bigger than his job. He opens up about mistakes he made early in his investment career, the mindset shift he underwent, and how setting goals and developing the right strategies kick-started his success. We dive into the power of positivity and education when starting out as well as surrounding yourself with smarter, more experienced investors. Lloyd discusses why creating different sources of income can unlock more choices in your life before sharing what he looks for in investments. A sound investment strategy, Lloyd provides details on the ‘property trifecta,’ his way of manufacturing equity, and ensuring that his investments aren’t shackled to market forces. Lloyd’s story shows that anyone can find success through focus and by following their passion. Tune in to hear more about securing your financial freedom.Key Points From This Episode:Lloyd shares his journey from being a teacher to becoming a passive investor.How a lack of financial security motivated Lloyd to dive into real estate.What financial freedom means to Lloyd; living a more fulfilling life. The importance of passion and being able to recognize when your life needs changing. How Lloyd developed the mindset to be able to shift towards real estate. Why setting goals can be game-changing for your career. Finding motivation by feeding off of positive and like-minded people. The perceived security of nine to five jobs and not limiting your growth potential.Why developing your passive income stream is vital to having choices in life.Hear about the ‘property trifecta’ — capital growth, instant equity, and cash flow. Lessons learned and what Lloyd’s business model and portfolio currently looks like. Seeing investments as vehicles to reach your goals. Why passion is Lloyd’s number one key to success.If you enjoy the guests and content please subscribe and leave a review.  Your reviews matter and each one has a major impact on the success of the show!Want to get more investing resources?Visit kentritter.com for more free passive real estate investing resources including videos, blogs, and tools visitInterested in Investing alongside my firm? Contact me at kritter@birgeandheld.com.My company Birge and Held Asset Management have a twelve-year track record creating sustainable wealth for over 2,000 investors through high-quality multifamily investments.https://birgeandheld.comThank you for listening!Check us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

In the past, real estate investors didn’t need to worry about getting sued. Now, it’s becoming part of the cost of doing business. Asset protection has become the front-line defense against predators who abuse the legal system. In today’s episode, we dive into the subject with Brian T. Bradley, a leading and asset protection attorney for real estate investors, and high net worth families. Brain explains how the likelihood that you get sued increases the more your business grows. Having talked about the need for investors to protect their assets, we explore the different forms of asset protection that can range from deliberately carrying debt to establishing an LLC in a different state. After touching on how asset protection can get you to the negotiating table faster and in a stronger position, Brian unpacks the practical steps that investors should take to protect their assets. We discuss the pros and cons of onshore versus offshore asset protection and how Bridge Trusts offer the best of both worlds. Brian then talks about why hitting a net worth of $500,000 substantially increases your risk — it’s just enough to get sued but not enough to easily recover from it. We dispel common misconceptions around asset protection and Brian provides step-by-step information on the topic, including what happens to your money when you place it into a trust, and the average costs of asset protection. Tune in to hear more about asset protection. As Brian can attest, there’s no point earning money if you’re not able to keep it. Key Points From This Episode:Exploring Brian’s acclaimed career as an educator and asset protection attorney.What ‘asset protection’ means from a real estate perspective. Why lawsuits are an increasingly large issue; never have anything in your name. Brian unpacks the roadmap for the different forms of asset protection. How judges have broad powers to reach your assets, even when lacking legal authority. The asset protection steps you should take when you’re an entry-level investor.What an asset protection trust is and how it’s different from other trusts.The pros and cons of offshore versus onshore asset protection strategies. How US courts don’t always acknowledge the precedent of the state your trust is set up in. The best of both worlds: setting up Bridge Trusts; a hybrid onshore, offshore model. Why hitting a net worth of $500,000 substantially increases your risk. Common misconceptions that people have regarding LLCs and asset protection.What happens to your money when you transfer it into a trust. The four layers of asset protection: LLCs, asset management companies, asset protection trusts, and insurance. Limits to insurance companies and how they might “wiggle out” of claims.Dispelling more myths around asset protection. Why you should always seek professional help when it comes to liability.If you enjoy the guests and content please subscribe and leave a review.  Your reviews matter and each one has a major impact on the success of the show!Want to get more investing resources?Visit kentritter.com for more free passive real estate investing resources including videos, blogs, and tools visitInterested in Investing alongside my firm? Contact me at kritter@birgeandheld.coCheck us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

In this episode of Ritter on Real Estate, we welcome professional asset manager Mike Taravella who joins us to share his unique perspective on deals. Mike worked for five years as a CPA and began his real estate investing career in 2016 when he bought and self-managed investment properties in Michigan. With an increasing interest in real estate development, Mike joined Rand Partners in 2019 where he is now an asset manager responsible for underwriting deals, investor relations, and asset management. Tuning in, listeners will learn more about the day-to-day functions of an asset manager, the key elements that should be included in a business plan, and how Rand Partners go about executing these plans to ensure good returns for their investors. For Mike and his team, communication and transparency are key, and these values are evident in the weekly meetings between property and asset managers and their frequent communications with investors. Mike also talks about their strategies for driving a property’s value, the importance of paying attention to other income, the use of the ratio utility billing system (RUBS) and surety bonds, and what investors should know about investing in the post-COVID market.  Key Points From This Episode:Get a sense of Mike’s career path thus far and what an asset manager’s role is.  Hear about the elements in a business plan that should work together to increase income. What Mike does to ensure that business plans are executed and investors get their returns. Hear about their weekly meetings to track the numbers and keep a firm grip on properties. The relevance of the communication between the asset and property manager to investors. Mike describes the core metrics their team looks at to move the business plan forward. The processes involved in compiling a business plan when a new acquisition is made. How they drive value through rent and occupancy increases and effective marketing. What “other income” comprises and the portion of the total income it should make up.  Mike explains the use of RUBS (ratio utility billing system) and surety bonds.  Views on what investors can expect from a returns standpoint in the wake of COVID-19. Learn how Mike and his team prioritize and approach communication with investors.The value of investing in coaching and good books to gain knowledge quickly.  If you enjoy the guests and content please subscribe and leave a review.  Your reviews matter and each one has a major impact on the success of the show!Want to get more investing resources?Visit kentritter.com for more free passive real estate investing resources including videos, blogs, and tools visitInterested in Investing alongside my firm? Contact me at kritter@birgeandheld.com.My company Birge and Held Asset Management have a twelve-year track record creating sustainable wealth for over 2,000 investors through high-quality multifamily investments.https://birgeandheld.comThank you for listening!Check us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio

In part two of our discussion on 1031 exchanges, we pick up where we left off with Michael Brady and Alex Shandrovsky. As more and more syndicators are advertising them, it’s crucial to get educated and understand the intricate rules. One of the strict constraints is the two different timelines, namely the 45-day replacement property identification period and the 180-day closing period. We learn more about these parameters, along with the consequences if they are not adhered to. Michael also sheds some light on the COVID-related changes in the space. From there, we move onto the Delaware Statutory Trust, which can be used in conjunction with a 1031 or instead of one to defer capital gains. We get an overview of how this structure works and when it makes sense to utilize it. Finally, we round the show off with our keys to success, where Michael shares why he’s most proud of his kids, and Alex shares the role Michael has played in his success. Kent even talks about how meditation has helped him stay more present and focused in daily life. This was a great conversation, and Michael and Alex do a great job of unpacking this complex but effective wealth-building tool. Don't miss out on today’s show!Key Points From This Episode:Learn more about the two strict time constraints that come with 1031s.Why it’s recommended to only identify three replacement properties.The constraints that come with identifying more than three replacement properties.Some 1031 timeline changes that have happened in light of COVID-19.Why it’s preferable to have a contract and even do due diligence in the 45-day period.How the identification period works if you’re looking at syndication.A look at a Delaware Statutory Trust, an alternative to defer capital gains tax.The main takeaways from all this dense 1031 information.The final keys to success with Michael and Alex: One sponsor question, what they’re most proud of, and more!If you enjoy the guests and content please subscribe and leave a review.  Your reviews matter and each one has a major impact on the success of the show!Want to get more investing resources?Visit kentritter.com for more free passive real estate investing resources including videos, blogs, and tools visitInterested in Investing alongside my firm? Contact me at kritter@birgeandheld.com.My company Birge and Held Asset Management have a twelve-year track record creating sustainable wealth for over 2,000 investors through high-quality multifamily investments.https://birgeandheld.comThank you for listening!Check us out on socials: Instagram LinkedIn Youtube https://hudsoninvesting.com/ Production by Outlier Audio