Multifamily Legacy Podcast

Ready to be served the “meat and potatoes” of multifamily investing? I’m going to teach you everything—from finding qualified deals to getting them under contract.  What happens, what goes wrong, and what process should you follow? Lots of little things that you need to know. Real estate is a financially rewarding journey to living your best life and creating legacy wealth. Topics on Today’s Episode: Analyze hundreds of deals, not just one, with the following: Kahuna Cashflow Calculator Pre-trained virtual assistants (VAs) Final look Does this pencil?  No: Dead deal Maybe: Dead deal may be resurrected for right price and reasons Yes: Visit site for information and interrogation to kill deal Does it still pencil?  No: Dead deal Maybe: 50/50 chance, after site visit and more information Yes: Create and submit Letter of Intent (LOI) to buy property Does it still pencil? No: Dead deal Maybe: Negotiate, if necessary Yes: If accepted, receive signed LOI to create and submit Purchase and Sales Agreement (PSA) with contract extension Does it still pencil? No: Dead deal Maybe: Not a done deal, until PSA is signed and due diligence items are delivered  Yes: If accepted, receive signed PSA to start due diligence period Every time there’s a change or more accurate data, inform your Kahuna Cashflow Calculator. Part 2 will focus on the closing process, which is when your asset begins to work, run, and make money. Links and Resources Mentioned: Kahuna Cashflow Calculator Multifamily Legacy Podcast on YouTube Multifamily Legacy Podcast on Facebook Kahuna Boardroom Kahuna Investments Cashflow HQ Quotes: “This is where most people fail. ‘I’m going to go find deals.’ But the reality is, they’re not willing to do the work.” Corey Peterson “You have to visit the dirt to make an impact in the broker’s eyes. You want to come in as a bonafide buyer.” Corey Peterson “You’ve got to come into these things with your eyes wide open. If there’s a mistake to be made, or a way to lose money, I’ve probably done it.” Corey Peterson  “You have a freaking pipe dream, until someone signs that dotted line on that Purchase and Sales (PSA) Contract.” Corey Peterson Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.  Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

The real estate market is very competitive. Yet, people overlook deals because they lack huge equity spreads. Instead of letting deals pass you by, leverage them to create cash flow on properties that nobody else wants.  Today’s guest is Zack Childress, who teaches and trains others about real estate investing. He describes how a lease option control (LOC) creates cash flow when you can't get a bank loan.  Topics on Today’s Episode: Stabilization Money: Cash flow is money you can count on Denied: Not everyone can get a bank loan; lean into LOC LOC Segments:  Straight Lease Purchase/Sale: Involves you and/or one other Wholesaling: Property held onto for cash flow, or flip to tenant-buyer Sandwich Lease: Unlimited cash flow model Master Lease: Lock in property with rights to purchase and fill with tenants No Equity, No Problem: Pulling in all people that every other investor can't help  Right Areas, Markets, Price Points: Avoid low price-point neighborhoods where renters want to be owners, not owners who need help to improve properties Dream Deal via Domino Effect: Why rent when you can own a home?  Disguised Sale: LOC doesn’t follow Dodd-Frank Laws; it's not seller financing Short Sale: Other options don’t mess up your credit score and report Specialized Knowledge: More you do, more you learn, more to share with others Copy Your Way to Success: Corey’s soon-to-be-published book; someone who has already been there, done that, and knows everything Commitment: Don’t waste time and capital; slow down, do one thing, do it right Links and Resources Mentioned: Zack Childress REI Success Academy Unlimited Cash Flow System The Richest Man in Babylon by George S. Clason Rich Dad Poor Dad by Robert Kiyosaki Warren Buffett Dodd-Frank Laws Kahuna Investments Multifamily Legacy Podcast on Facebook Corey Peterson on YouTube Cashflow HQ Kahuna Boardroom Quotes: “You’ve got to be creative. You've got to be able to find a way to make some money.” Corey Peterson “When I started really diving into the sandwich lease option, that was my thing. I built up cash flow.” Zack Childress “They don't have any cash/fresh money to fix it up for sale. They’re tired of the headache. A master lease option is a great way to get control.” Corey Peterson “If you're doing it in the right areas, the right markets, and the right price points, these owners actually improve the properties.” Zack Childress Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.  Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Wouldn’t it be wonderful to retire early? The good news is that it doesn’t take millions of dollars, but it does require consistent cash flow to replace your income. The bad news is, your financial advisor probably didn’t tell you about that possibility. Today’s guest is Chris Miles, a.k.a. the Cash Flow Expert and Anti-financial Advisor.  Chris helps people find alternatives to achieve financial prosperity by spending time and investing money in what they enjoy - whether it’s real estate, or not.  Topics on Today’s Episode: Financial Advisors: Salespeople who sell, but don’t typically tell the truth Conventional crap that Chris learned and taught: Save everything. Spend nothing. Debt is evil. Invest in mutual funds. Eventually, you may be able to retire. Despite bad advice and no control over clients’ money, Chris finds different ways to create cash flow  Acceleration vs. Accumulation: Focus on cash flow and income stream, not stashing cash in retirement accounts Income Tax Loss: The more you make, the more they take. Tax-free Income: Strategies to write-off positive cash flow Nowhere to Run, No Place to Hide: Diversification doesn’t work in Stock Market Access to Liquid Assets: Live within your means, earn more than you consume Corey’s Advice: More debt equals more money Alternatives: Invest in what interests you, and double dip your investment returns Links and Resources Mentioned: The Chris Miles Money Show  Money Ripples Chris Miles on YouTube Janus Funds Charles Schwab Corporation The Dave Ramsey Show Kahuna Investments Multifamily Legacy Podcast on Facebook Corey Peterson on YouTube Cashflow HQ Kahuna Boardroom Quotes: “Save everything. Spend nothing. Invest everything in mutual funds, and let it sit there for 5-million years...eventually, you might be able to retire.” Chris Miles “I gave bad advice. I gave the mainstream, traditional, conventional stuff you hear. It’s really hard to feel good about that kind of advice.” Chris Miles “You can’t have real financial freedom without some measure of control.” Chris Miles “We’re trying to grow wealth and make money. The more debt I get into, the richer I become.” Corey Peterson Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.  Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Picture this; actually, draw it: Two guys are in a bar for a few drinks and talk about world domination. One guy rattles on about his smokin’-hot wife. The other has a six-pack physique. Hanging out, drinking, shooting the breeze. One says to the other, “Do you have money?” I bet you’ll never get that visual out of your head!   I was raising private money for single-family homes. You never know when you're going to meet capital. That’s how I met Vince Palko, CEO and founder of AdToons. He’s not your typical real estate investor. He's an artist and author of The Art of Selling Using Cartoons.  Topics on Today’s Episode: Gifted Artist and True Marketing Genius: Vince tells stories through his art and makes complex concepts simple to understand Who doesn’t want to be a superhero? Communicate with all walks of life and niches, including real estate investors Storytelling and Visual Aids: Why invest with Corey? Click for more information  Visual Learning Map: Storyboard of journey to find what you want to achieve IRA/SEP: Can you make it make money?  Multifamily: Apartments are like factories that go through a process; end goal is net profits because rent is due Learning to Draw: Vince’s mother was an art teacher; nothing to do or being bored wasn’t an option Speak in metaphors and from your heart to tell powerful stories that resonate with everyone Growth and Success: Visualize sitting on the beach, sipping cocktails, and money flowing in; work for you, don’t work for it Links and Resources Mentioned: Vince Palko’s Email AdToons The Art of Selling Using Cartoons AdToons on YouTube GKIC Dan Kennedy/Bill Glazer U.S. Securities and Exchange Commission (SEC) Bob Ross Les Brown Steve Jobs Russell Brunson Lebron James Specialized IRA Services Kahuna Investments Multifamily Legacy Podcast on Facebook Corey Peterson on YouTube Cashflow HQ Kahuna Boardroom Collective Genius - Real Estate Mastermind Quotes by Vince Palko: “I really do feel like that is my superpower...trying to latch on to different concepts and metaphors to help people understand dry-dull business concepts.”  “This isn't anything new. As cavemen and women, we had icons and arrows scribbled on cave walls to help communicate languages, hunting strategies, family traditions.”   “Not only do you speak in metaphors, you speak from the heart.”  “Visualize: See yourself sitting on the beach, sipping cocktails, having money flowing in...working for you, instead of you working for it.”  Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.  Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single-family.

Steven Libman started as a fix-and-flipper, and then added single-family and multifamily real estate to his portfolio. He was already focused on achieving results.  After attending the Kahuna Boardroom, Steven hit the ground running. Now, I’m not saying my Boardroom is the be-all, end-all. But since then, Steven’s Integrity Holdings Group has closed $32 million in deals, plus $34 million under contract. Those are amazing results! Topics on Today’s Episode: Right Way to Raise Capital: At a lower cost than other syndicators Majority of Money: 90% invested in stocks, mutual funds, and bonds; $4 trillion sits in 401(k) market Identify and supply what your investors want and need Secured Asset: Based on cash flow, deployment, and additional tax benefits Integrity Properties: Return of capital via stability, consistency, and passivity How to Scale: Copy blueprint to be bigger and do more wholesaling, flipping Get Educated vs. Get Deals: Learn about underwriting, how to manage deals, and talk to property managers  Mentor’s Advice: Money is not in the deal; money is in the money Big Vision, Big Ideas, Big Dreams: Bring deals, find sponsors, perform as promised, and find more deals At-risk Relationships: Deploy money into dependable sponsors with integrity, track record, and processes Searching for Steven: Full-time deal maker with access to stock market alternative to raise capital Only sell away what the broker has and recommends to sell; traditional brokerage firms only do liquid real estate that can be traded in open market 401(k) Reform: Allows brokers to sell annuities for people to be paid annually; people can self-direct raw individual retirement accounts (IRAs) to their 401(k) Know, Like, and Trust: Set expectations and overdeliver  Why you do what you do: Not just about money, but changing/impacting others Learn from Failures/Blind Spots: Be honest with yourself; grow stronger, not weaker; and partner with people to help fill gaps Links and Resources Mentioned: Steven Libman’s Email Integrity Holdings Group Integrity Holdings Group on Facebook Integrity Holdings Group on LinkedIn Merrill Lynch Edward Jones Equity Trust Think and Grow Rich by Napoleon Hill Jeff Bezos (CEO of Amazon) Kahuna Boardroom Kahuna Investments Multifamily Legacy Podcast on Facebook Cashflow HQ Quotes: “When people tell you that you’re going to run out of money at that cost of capital...they don’t understand the returns that people are typically getting.” Steven Libman “We’re about stability, consistency, passivity, and we’re all about return of capital first, return on capital second.” Steven Libman “It only takes one deal to have a life changed.” Corey Peterson “I could teach until the cows come home with what I know, but it takes someone else’s vision, too, to really drive that down the road.” Corey Peterson Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.  Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

You do what you’ve got to do to live your dream. Real estate found Kevin Bupp when he was 19 years old and going to community college with no direction in life.  Kevin tended bar until he did enough deals to support and grow his business. He’s a real estate investor, who started in single-family fix and flip, moved into multifamily, and shifted to mobile home parks.  Topics on Today’s Episode: Single-family Stuff Unsustainable: Market shifted faster than expected Highest/Lowest Point: 18% vacancy rate, negative equity, no cash flow Loan Restructuring: Banks not interested in continuing relationships or restructuring loans Hard Lesson to Learn: Bad credit, bank accounts garnished, and being forced to sell multifamily properties at rock-bottom prices Crawling Out of Curled Up Ball: Save what you can to avoid bankruptcy by working with lenders on short sales   Everyone knows the fundamentals: Buy low, sell high Rebirth and Regain Control: Start businesses outside the realm of real estate to save mental state and health, and pay bills  Real Estate Itch Returns: Burning desire in belly with a newfound focus -Buy mobile home park communities, rent land to residents. Negative Stigma of Mobile Home Parks: Simply supplying affordable homes and rooftops to middle America  Mobile Home Park Financing: Not readily available, not well understood by lenders Win-Win Situation: Ultimate goal for sellers is to have a plan for their money Fund Structure of Semi-Blind Pool: Making purchases at your own risk, raising capital for deal syndicate What is means to be a cash flow investor: It’s not just about cash flow of property, but protecting your team Focus, pick one thing, get really good at it because there's a million ways to make money in real estate Links and Resources Mentioned: Sunrise Capital Investors Real Estate Investing for Cash Flow Podcast Mobile Home Park Investing Podcast Fannie Mae Freddie Mac Ron LeGrand Regulation D 506(c) Collective Genius - Real Estate Mastermind Rich Dad Poor Dad by Robert Kiyosaki Kahuna Investments Multifamily Legacy Podcast on Facebook Cashflow HQ Kahuna Boardroom Quotes: “I thought I was a cash flow investor, I thought I was following that model, and quickly realized that the market shifted way faster than what I anticipated.” Kevin Bupp “I had bad credit. I couldn’t even get new debt put on these properties. We had to sell these things. I got out of them, but sold them for bottom basement prices.” Kevin Bupp “This is what I love about true entrepreneurs. You're going to go down this journey. The only way you fail, is if you don't get back up.” Corey Peterson “Raising money really becomes what your comfort level is, and also what the appetite for money is.” Corey Peterson Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.  Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

If you’re not good at raising money, then you better be behind-the-scenes to make things work. Operations is where you make or break deals.  Today, I’m talking to RJ Pepino, co-founder of Columbus Turnkey Houses. He’s done more than 500 deals and provides insight into rehab and property management. Topics on Today’s Episode: Brotherhood of Rich Dad Poor Dad: Entrepreneurial spirit of Pepino family Journey into Real Estate: Seminar that sold RJ on cash flow and cars lifestyle Fastest way to make or lose money? Flipping and wholesaling properties Corey is CG OG to bring sexy back by talking about investing in apartments Turnkey Definition: Buy distress asset, renovate it with standards, find tenants, and bring property management in-house Buying and Holding Properties: Ability to keep and pull out cash flow; tax-free money for owning rentals Business Motto: We’re all about fine tuning our rehab management. Bread-and-Butter Classes: Neighborhoods with more owners than renters; where you can collect rents and everything is good at the end of the day Rehab Book: Scope of work and plan to make property safe and functional Home Depot or Lowe’s, find cost-efficient supply chain to buy same fixtures  Snapshot of Process: Schedules, scopes, and personnel Communication and Construction: Chat with general contractor (GC), “Change this and fix this.” Keys to Partnership Success: Open communication; stay in your lane based on skill set and personality type Constant Changes: Learn from every deal and come back stronger and better Links and Resources Mentioned: RJ Pepino on Facebook RJ Pepino on Instagram Columbus Turnkey Houses Collective Genius - Real Estate Mastermind Rich Dad Poor Dad by Robert Kiyosaki Extreme Ownership by Jocko Willink and Leif Babin  Home Depot Barnett Lowe's HGTV Voxer Traction by Gino WIckman Culture Index Inc. Gary Harper of Sharper Business Solutions Kahuna Investments Multifamily Legacy Podcast on Facebook Cashflow HQ Kahuna Boardroom Quotes: “The fastest way that I saw to make money....I got my start as a wholesaler, flipping, doing a lot of transactions." RJ Pepino “Most people...are just buying and selling. They’re never keeping anything for themselves. That is where the money is made, by keeping it.” Corey Peterson “Turnkey is kind of a loose term now. A lot of people are saying they’re selling turnkey rentals, and some of them aren’t even doing the rehabs.” RJ Pepino “We’re not trying to sell for profit, we’re trying to rent it for money, cash flow. If you go spend a hellacious amount of money, then there goes your profit.” Corey Peterson Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.  Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Would you like fries with that? At a young age, Mike Flaherty was busy getting projects approved for McDonald’s, Taco Bell, Home Depot, Walgreens, and other businesses. He may have started in commercial real estate, but his goal was always to move to the residential side. Mike has done more than $525 million worth of apartment deals. He’s the founder and president of L5 Real Estate Investments, which focuses on well-located, yield-driven assets with physical and operational repositioning value place.   Topics on Today’s Episode: Mike’s First, Real Job: Managing real estate, design, and entitlements Always on the move, figuring out what he wanted to do: Why living at the beach, working less, and having more fun didn’t work out Making big companies big money, so why not do that for himself? Painful Process: Mike’s move from the corporate world to partner with investment bankers went to pieces due to the recession Starting from Scratch: What’s next? Buy when there’s blood in the streets Fortune 500 Education: With knowledge and experience, take the leap, and land on your feet Finding the Right, Risk-inverse Spot: Apartments are #1 risk-adjusted cash flow stream of investment in history What type of investments did well despite the recession? Apartments Is it harder to find deals now? Hard work isn’t easy, and good deals are always hard to find Raising funds is easy because banks love apartments; private capital is still challenging, so create trust and track record   #1 To Do: Manage people’s money, and make sure to deliver what you promised Jobs, Retail, and Mass Transit: Three things that protect multifamily investing Sage Advice: Start small, find data, talk to right source, create good team Links and Resources Mentioned: L5 Real Estate Investments Mike Flaherty’s Email Mike Flaherty’s Phone: 310-991-3091 Toll Brothers Bovis Lend Lease Lehman Brothers Warren Buffett David Lindahl Multifamily Legacy Podcast 021: Becoming a Real Estate Investor – Bob Bowman Multifamily Legacy Podcast on Facebook Cashflow HQ Quotes: “I’ve been making everyone else a lot of money doing this business. How do I do this on my own?” Mike Flaherty “I jumped from the corporate world and partnered with some investment bankers out of Los Angeles. The recession kicked in and all of the pieces fell apart.” Mike Flaherty “You don’t have to be in real estate to go through that pain. It didn’t matter how good you were, or how bad you were, how smart you were.” Mike Flaherty “Many of the success stories come from someone that had a niche or took someone else’s idea and made it better and prospered from it.” Mike Flaherty Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

Going from earning a seven-figure annual income in the music industry to making $7 an hour bagging groceries is not really a step up the career ladder. Before you end up filing for bankruptcy (and divorce), there’s a simple solution. Learn new skills, and listen to your boss! Today, I’m talking to Matt Theriault of Epic Real Estate. Matt teaches people how to make money in real estate - just like his manager at the grocery store suggested. Topics on Today’s Episode: Real Estate is Final Frontier: Average people get equal chance to create wealth Can I start my career over? How to live a better life and retire early Passive Income Concept: Money in the bank vs. regularly replenishing money Get out of the Rat Race: Passive income may not make you rich, but may provide you with financial freedom Educate to Dominate: Teach what you know, and learn from mistakes Need to raise funds? Grow your audience? Start a podcast Stay in the ‘flow’ by modeling and copying your way to success Epic Real Estate teaches everything - from how to flip to wholesale Customer Satisfaction according to Corey: Tenants expect rents to go up every year, never disappoint them Success Accelerators: Greater, smarter, better, and faster people than yourself, including mentors, coaches, and networking/mastermind groups Links and Resources Mentioned: Epic Real Estate Matt Theriault's Free Real Estate Investing Course Epic Real Estate Investing Podcast Rich Dad Poor Dad by Robert Kiyosaki Jason Hartman’s Real Estate Podcast Sean Terry’s Real Estate Investing Podcast Meetup Tony Robbins Cody Sperber Tom Kroll Collective Genius - Real Estate Mastermind Multifamily Legacy Podcast on Facebook Cashflow HQ Quotes by Matt Theriault: “I'm probably sitting on the wrong side of the desk, if I really want to make all the money. So, I made the transition from real estate agent to real estate investor." “If there's nothing to keep replenishing that money as you keep spending it, that can create issues.” “I think with real estate, there's a lesson intertwined in every single transaction that you do.” “Failure is a much better teacher than success.” Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.

You know me, I know how and where to find the cheapest place possible for banking, lending, and fat stacks of cash for multifamily deals.   Today, my guest is Aaron Moll, a mortgage banker at Berkadia. He’s done more than a billion dollars in loans and covers the whole lending spectrum. However, Aaron specializes in student housing loans, including getting me two loans for student housing projects. Topics on Today’s Episode: Agency vs. Non-agency: Comparing options for getting loans for bigger deals Supplemental Financing: Biggest advantage with Fannie Mae and Freddie Mac Exit Plan: How do you exit money at the right time? Guidelines, Rules, and Reviews: Are Freddie Mac, Fannie Mae, Delegated Underwriting and Servicing (DUS) even options for multifamily deal? Seek small balance loan to streamline process and for low-cost and expedited transactions; designed for $5 million or less loans with DUS rules Fannie Mae and Freddie Mac offer step-down fee structure to create loans that match client’s specific needs Definition of Defeasance: Standard prepayment on permanent debt by securitizing deal Pros and cons of HUD loans include taking six months to close, amount of paperwork to complete, extra cost, and extremely low-interest rates Local banks are needed for loans, but so are mortgage brokers to reduce  contingent liabilities and find something in the marketplace that fits your goals Loans should not be the same for every deal; utilize different plans of action, execution, hold periods, and other factors Not all lenders are the same; bridge market is partnership program in competitive space with interest-only payment, not a recourse Mortgage brokers build relationships to bring lenders and borrowers together   Links and Resources Mentioned:   Aaron Moll of Berkadia Aaron Moll’s Phone Number: 231-360-1840 Aaron Moll’s Email Berkadia Fannie Mae Freddie Mac Department of Housing and Urban Development (HUD) LifeCO Commercial mortgage-backed security (CMBS) BankingBridge 074: Hawkeye Towers: The Good, the Bad, and the Ugly Part 1 075: Hawkeye Towers: The Good, the Bad, and the Ugly Part 2 076: Hawkeye Towers: The Good, the Bad, and the Ugly Part 3 Multifamily Legacy Podcast on Facebook Cashflow HQ Kahuna Boardroom Quotes: “Fannie-Freddie: King and Queen of multifamily. They tend to lead the pack when it comes to permanent financing. If you’re a masochist, we have HUD loans.” Aaron Moll “Fannie-Freddie give you, programmatically, supplemental loans. You get one more bite at the apple during your 10-year term.” Aaron Moll “When you do apartment deals, and you have equity involved, and you’re syndicating, it’s always about the exit." Corey Peterson “We try to marry up the debt to best secure cash returns. That’s what everybody’s in this game for, is to make some money.” Aaron Moll Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.