Multifamily Legacy Podcast

What’s your story? Does it communicate a vision and inspire others toward greatness? Most successful investors follow the same path. They get to a point where they’re ready to commit to something different. Take a risky leap, to reap the rewards! In this episode, I talk with Tamar Mar, who shares an incredible and unique story about how she started in multifamily investing. She enjoyed helping others grow their businesses, but knew she could start her own business. So, Tamar left the corporate world and now uses the tagline: I was really keen on becoming the CEO of my own dreams.    Topics on Today’s Episode: Commit to starting and planning a multifamily syndication business - not a hobby; share your goals, but don’t let others bring you down Start small and build up confidence; don’t necessarily need to land a big deal to grow at a reasonable rate and build off successes Trend in marketplace where multifamily, cash flow, and apartments is the new ‘sexy’; this is both good to attract attention, but bad due to a lack of experience Don’t spend money on advertising or waste time on marketing; get the most bang for your buck by building relationships and friendships - treat them well, be loyal No downtime or time for disappointment; only time to get back in the saddle, look at other deals, and put in a lot of effort - persevere despite exhaustion Underwriting has changed slightly to prepare for shifts in the industry due to rising interest rates and not being able to refinance Raise capital by talking to people and using under promise, over deliver concept Difficulty to raise rents, but not lose tenants; be flexible and transparent Communicate and learn from mistakes to know what to do differently in the future Hard to find property manager who cares about your property as much as you do; ask “tell me about a time…” when interviewing potential property managers Transitioning from single to multifamily to reach goals sooner and do what you want in life Links and Resources Mentioned: Investing for Life Podcast Marota Group Quotes: “There’s a trend in the marketplace right now where multifamily and cash flow and apartments is the new ‘sexy’.” Corey Peterson “I was really keen on becoming the CEO of my own dreams.” Tamar Mar “I’ve having a blast with what I’m doing. It’s super fun.” Tamar Mar “When they’re successful, I’m successful. When I’m successful, they are. So, we just all help each other out.” Tamar Mar 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.

It doesn’t matter whether you’re looking for multifamily, apartment buildings, single-family, town homes, duplexes, or land deals. If you become good at finding discounted properties, you will quickly become a multi-millionaire. Wholesaling is the art of consistently finding discounted deals. Tom Krol should know. He’s the “King of Wholesale” and teaches others how to be successful in the wholesaling business.    Topics on Today’s Episode: Wholesaling isn’t complicated, it’s easy; don’t need to know about real estate Anyone can do wholesaling, just need focus, simple instructions, and clarity 3 Things to Choose From a Wholesale Deal: Speed, price, and convenience Coaching is to get someone to push you and help you gain confidence An overnight success is someone who work hard, persevered, and was determined to make it happen Instruction is key with wholesaling; results are your education Give back based on what you’ve done and learned to prevent others from making the same mistakes Be passionate about succeeding or die trying; when you want something badly, you’ll do what it takes to make it happen 3 Elements of Belief: Trust coach/mentor, trust the program, and trust yourself Be open minded and intentional for things to come that will change your life Have a business that is servant to you, instead of a job that you serve - put a cap on your financial aspirations; is anyone happy with money and nothing to do? Links and Resources Mentioned: Wholesaling Inc. Wholesaling Inc. Podcast Todd Toback Rhinoceros Success by Scott Alexander Collective Genius Mastermind Sean Terry The Four Spiritual Laws of Prosperity by Edwene Gaines Robert Toru Kiyosaki Jason Medley Gary Keller Jim Rohn Quotes: “The first thing of any good deal is how to find a good one.” Corey Peterson “Wholesaling is the art of consistently finding discounted deals.” Tom Krol “What we lack in smarts and booksmarts, you make up for on sweat equity. That’s the secret to everything - work hard.” Tom Krol “To have a business that is a servant to you, instead of a job that you serve, the #1 way to create that is to put a cap on your financial aspirations.” Tom Krol 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.

Being a realtor is a great way to make a living. But when you start out, you suffer from “commission breath” because you have to beg for a listing or buyer. Making sales is much easier when you’re an investor. Wholesalers are overpaid realtors. You make more money because you can wholesale to other investors and list their fix-and-flips. Don’t get stuck being a realtor. Today, my guest is Kris Ontiveros, a.k.a. Cashflow Kris. He started out as a realtor, and then became a real estate investor focusing on apartments. Kris co-hosts the Flippin Fridays/AZ Flip Guys show with Brayand Ponciano. They're two ordinary guys doing extraordinary things. Topics on Today’s Episode: Realtors only get 3% of a deal - table scraps to be at someone’s beck and call Current market stats look good, but numbers are trending in the wrong direction; list price to sale price is going down and days on the market are going up Such stats lead to future opportunities; it's going to be easier to raise money Paying too much for a property doesn’t make financial sense; it's like a house of cards just waiting to tumble Kris is basically a fundraiser; deals just flow in without doing any marketing because his network simply hands him off-market deals Kris has done many deals with private lenders and returns their money; long-term financing a project leads to them being ready to fund his next deal Smile and dial, shake hands, and kiss a lot of babies to get to know capital; people give you money because they have a professional relationship with you Cash flows from people who can't handle it to people who can make it grow; money is always looking for a home and dealmakers When people ask: "How much is your minimum investment?" have a bold and brazen number in mind Never take someone's last dollar - they become a problem and a pain for you Trade up your money; everybody's climbing a ladder and looking at something, so climb as fast as you can Cash flow is the goal and the future of multifamily is bright; even if money from multifamily slows down, keep a foot in the door until you get enough cash flow Be careful because real estate is sexy, but  lot of work - know what you're doing by mimicking or partnering with a pro Links and Resources Mentioned: Kris Ontiveros on Facebook Flippin Fridays Podcast #FlippinFridays Episode 72 - Talking with the One and Only Corey Peterson about Raising Money and Buying Apartment Complexes Nationwide!! Flipping Fridays Episode 40: With guest Corey Peterson with Kahuna Investments AZ Flip Guys on Facebook Kahuna Boardroom Brayand Ponciano on Instagram Than Merrill FortuneBuilders Dave Lindahl Edward Jones Jack Bosch Boiler Room Gene Guarino - Residential Assisted Living Academy My Life & 1,000 Houses by Mitch Stephen Quotes: “Real estate is so amazing. There are so many different ways to make money in this business. We know that we're just straight up fundraisers at this point.” Kris Ontiveros “As long as I'm financially free, as long as the bills are being paid and there's checks coming in every single month, I'm going to be hppy.” Kris Ontiveros “The goal is cash flow. That's what I want.” Kris Ontiveros “There's going to be some blood in the streets. There's going to be some opportunity coming.” 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.  

When it comes to multifamily real estate and cash flow, Brayand Ponciano is all in - now. But he knows he made a mistake when he didn’t listen to me five years ago about raising money, instead of fixing and flipping. Brayand learned his lesson and shares what he knows about everything related to real estate on the Flippin Fridays/AZ Flip Guys show with co-host Kris Ontiveros. Plus, there’s still time to help some kids, including my son, experience a once-in-a-lifetime opportunity. Please consider donating to the Sendtheteam.com fundraiser, where funds will be used to send a youth football team, along with their coaches and chaperones, to Florida to play in the Tackle Football National Championship.     Topics on Today’s Episode: Don’t judge a book by its cover because Brayand judged me based on my looks, not my knowledge; be authentic - make no apologies for who you are Brayand believes the value of the Kahuna Boardroom comes from the lessons I teach and the experienced people I include Pitching is Work: There’s a way to do it, and there’s a way not to do it Boardroom inspectors and property managers gave Brayand tips on how to renegotiate deals to save money Build relationships with vendors and contractors to get better deals Pros and cons of Section 8 (low-income) and C-class housing Brayand doesn’t buy distressed properties, he buys properties from distressed owners who don’t know how to manage them Automation is vital for property management; Brayand uses AppFolio and ACH Be strict/firm because if you give someone an inch, they’re going to take a mile 2-Step Tenant Program: Don’t f**k with my money; don’t f**k with my property Management Tip 1: Treat people the way you would want to be treated Management Tip 2: Don’t rely on people to know what you’re thinking or how you want things done; document processes and procedures Links and Resources Mentioned: Brayand Ponciano on Instagram Flippin Fridays Podcast AZ Flip Guys on Facebook 016: Building Your Legacy From the Ground Up Kahuna Boardroom Why the Rich Get Richer - The Secrets to Cash-Flowing Apartments Sendtheteam.com Gary Vaynerchuk Jack Bosch Flip Houses Like Burgers: With No Money Or Credit Nasar El-Arabi Secret Knock AppFolio Automated Clearing House (ACH) Quotes: “Collecting money is the business of apartments.” Corey Peterson “The one thing that I value more than anything in anybody is authenticity.” Brayand Ponciano “One of the things that I love most about the Kahuna Boardroom is that it really emphasizes automation.” Brayand Ponciano “It’s all about filling the need for what people need.” Brayand Ponciano 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.

Stop what you’re doing because I have a big announcement! Would you like to help some kids, including my son, experience a once-in-a-lifetime opportunity? Kim Green, business manager for a youth football team, is doing a fundraiser to generate money to send these kids, along with their coaches and chaperones, to Florida to play in the Tackle Football National Championship.    Now, let’s get down to business. Today, my guest is Sterling White, who has produced an abundant amount of content focused on the multifamily industry. He remains consistent, even when someone “kicks him in the mouth” because they’re not ready to sell! Topics on Today’s Episode: Find deals by going off market and through direct sellers/decision makers Commercial brokers are doing the same work; just beat them to the punch Difficult to get accurate and complete financials; figure out income/expenses Outsource work and tasks; find freelancers/contractors via Upwork Direct mail and small gifts serve as a follow-up mechanism to engage decision makers; Sterling may send them a Rubik’s Cube and say, “Let’s figure this out.” Easy Button: Sell for more money through concise financials and deferring Even if owners are ready to sell, it can be difficult to get under contract with them Provide value and education as part of follow-up process Sterling’s tool, Syndication Pro, helps you facilitate and raise private money Make it simple for investors to access data; professionalism leads to more money Links and Resources Mentioned: SyndicationPro Sterling White BiggerPockets Sendtheteam.com Upwork IMS Merrill Lynch Quotes: “The biggest obstacle is getting through the gatekeeper, which often times is the property management company.” Sterling White “I’ll actually send a Rubik’s Cube, and it will say, ‘Hey, let’s figure this out’.” Sterling White “You want brokers to know you, like you, trust you, and become your friend.” Corey Peterson “In the age of raising capital, it’s all about perception. Perception is reality.” 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.  

How can some of the worst years of your life be when you manage hundreds of properties in colorful Colorado? It’s because you have to deal with tons of different tenants (and their kids and dogs), collect rents...it was a nightmare for Rondi Lambeth. So, now, he focuses on multifamily apartment complexes, which are easier to handle.    Rondi is the founder of Fortress Credit Professionals and a real estate investor. He makes money in the credit repair business and then invests about 70% in multifamily properties. Topics on Today’s Episode: Rondi has a rags to riches story - going from living in a home without electricity or water to buying his first home when he was 18 Single-family properties are sexy, but a lot of work Raising capital involves rules and relationships; there’s more money than you know about out there and it gets easier to get it thanks to believers Mentors make a difference and help you reprogram yourself to be successful Asking for capital doesn’t involve selling - only offers opportunities Stay Broke: When you have enough money to do another deal, spend it all; keeps you hungry Be smart, don’t pay taxes; if you do want the government wants you to do (be wealthy), then you don’t have to pay taxes Owners make the big decisions and manage the people who manage the people It’s much easier to become wealthy if you have good credit; banks will throw money at you 300-850 is the FICO range; 300 means 30% and 850 means 85% chance of bank being paid back Regardless of what’s on your credit file, anything can be removed from it Personal Life: Pay off credits cards in full every month; Business Side: Leverage credit card debt responsibly based on cash flow Differences between Corey’s business and a real estate investment trust (REIT) Links and Resources Mentioned: Rondi Lambeth Rondi Lambeth on Facebook Rondi Lambeth on Twitter Rondi Lambeth on LinkedIn Rondi Lambeth on Instagram Fortress Credit Professionals Rondi Lambeth on Brad Lea’s Podcast Grant Cardone The Richest Man in Babylon Jared Kushner Paid No Federal Income Tax for Years FICO Dave Ramsey Warren Buffett Dairy Queen   Quotes: “It’s so much easier to become wealthy with good credit.” Rondi Lambeth “I don’t know why anyone would do single family. It’s sexy. I don’t care about sex anymore. I’m lazy. I don’t want to do all that work.” Rondi Lambeth “The moment you have enough money to go do another deal, spend it all because then it keeps you hungry.” Rondi Lambeth “They call it cash flow for a reason. It flows out of people’s hands that can’t handle it, and it flows into people’s hands that know how to make it grow.” 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.  

I’m going to share some pain stories to stress the importance of structuring deals and having great people surround you. You can make multi-million-dollar deals, just like me. But I must admit that deals do not always go smoothly. After all, this is real estate, and anything can happen. So, you need to have a great legal team, which can make or break you in this business.   Topics on Today’s Episode: Who should be on your legal team? What should they do? Don’t be billed by the hour, set up fixed pricing Leverage: You have it, or you don’t Value of history of closing You can’t control how others (i.e. lenders) work and affect your deals; they work at their own speed and don’t care about your contract University Crossings Deal: Number of leases required for 90% occupancy not reached for the lender; seller caused harm, extensions/expenses were needed Catalina Village Deal: Lenders can mess up deals and delay the loan process When things like this happen, cover your bases Puppet Master: I’m in my cubby hole, unless a grenade needs to be dropped and crap needs to get done I’m extraordinary at finding the right people; my team pulls together to complete deals and make me look good Quotes: “Legal teams can make or break you in the business.” Corey Peterson “In this business - it’s real estate - anything can happen.” Corey Peterson “When things like this happen, you’ve got to cover your bases.” Corey Peterson “The only thing that I would say I am extraordinary at is that I know how to find the right people.” 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.

Do you believe in yourself? What matters most to you? Money? A job? Car? There's two things that most of us crave in life. One is time, and the other is money. But what really matters is, life. I couldn't have imagined what my life is like today. I started from nothing and went to a place where I make an extreme amount of money. I've tried to keep myself as grounded as possible, in family, friends, and things. But for so much of my life, I doubted myself. I never thought I was worthy of anything or anyone. You may be doubting yourself. That’s natural. It happens. Don't be afraid of it. The trick is that you've got to move away from self-doubt and limiting beliefs. Topics on Today’s Episode: Feed your brain and mind to grow; read books and listen to others Once you get to the point where you start to know who you are, then accept it Don’t compare yourself to others to only let self-doubt creep back into your life Stay true to yourself; can be hard to do because of social media makes it easy to be someone that you're not Have dreams, goals, and hopes, but don't be common; be extraordinary Do you suffer from the “what-will-people-think” button? Make no apologies - freedom that comes with this mindset lets you be authentic; although sometimes in life, you have to play the part, but remain true to yourself Do people like, know, and trust you? You will attract the right people and repel everybody else You don’t need to be the sharpest tool in the shed, but know how to find sharp people; you don't have to be the master of all things Toot your own horn, but don’t brag; don't be ashamed of making money and telling the story of your company's success Do you have to feel important, but it’s easy to feel unimportant? Find and focus on your uniqueness No company will ever pay you what you're worth, so choose to be your own boss and start a company; real estate requires the least amount of time Copy your way to success, but also find mentors and ask for help to avoid mistakes Tell yourself every day that you can be or do something; don't ever quit because quitters never win Links and Resources Mentioned: Kahuna Wealth Builders Boardroom I Can Only Imagine Tony Robbins Zig Ziglar How to Win Friends and Influence People Quotes: “Start believing you can. Start telling yourself each and every day that you can because, eventually, you will. Don't ever, ever quit.” Corey Peterson “I'm just me. Frankly, what you see is what you get.” Corey Peterson “I have dreams, goals, and hopes. I don't want to be common. I want to be extraordinary.” Corey Peterson “Your company is in business to make money so you don't ever have to be ashamed of making money and telling the story of your company's success.” 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.

Being successful is a choice. If you're just doing it for the money, it's not a big enough reason why. You've got to do it because you enjoy or like the real estate process. It's got to be a passion. On today's episode, I talk about raising private money and how a lot of people do it the wrong way. Who is going to give you the money at the right cost? When I talk about raising private money, the goal is, "How do you attract capital, people who have money? How do they give it to you? How much does it cost?" Topics on Today’s Episode: Cost of capital is a big deal; take care of your capital, make it money, make it grow, and you will get lots of people to give you lots of money Private Money Ponds Big Fish Pond: Where all the big fish are located; a big whale - someone who has lots of money, are aggressive, but never shows up Real Estate Investors Pond: Approach other real estate investors who are making lots of money; pay a Six-and-Six (6% payer and 6% backend pay) Consistency of the return makes the most sense; good financial advisors give you a range from 6% to 8% Pond or avatar that works well for me is the multifamily space, where there’s trillions of dollars; I crush the stock market because I offer a better return Most people have a 401K to store their retirement money; at a certain age, they can transfer some of their money to an IRA Most people spend their whole life saving for retirement; stock market may be ok to grow your wealth, but very bad at creating an income stream Invest in things that can get you paid: Certificate of Deposit (CD) makes less than 1%, yet lots of retired people have their money in them Bonds: You can have municipal or corporate bonds; bonds pay between 4% to 5% Blue-Chip Stocks: Every retired person has a fear of running out of money; you save money, but it's not earning enough income Every quarter, monthly profit from rent checks is distributed to our capital; investors get 6% annually, which is $1,500 a quarter As rents raise, the property becomes more profitable and affects the value; maximize operations, so when you sell, you create additional money for investors Links and Resources Mentioned: Why the Rich Get Richer book Raising Private Money Course Kahuna Wealth Builders Boardroom Collective Genius Mastermind   Quotes: “The truth is it's just a choice. Being successful is a choice.” Corey Peterson “I enjoy the sport of real estate, the sport of it. I want to get you there because it's a great, great lifestyle.” Corey Peterson “I think what I offer investors is sexy as hell. The reason I know this is because I'm consistent as hell.” Corey Peterson “When I compete against the stock market, which the majority of people that are investing are in the stock market, I can crush it. I really can.” 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.

I’ve got some golden nuggets of information for you when it comes to operations - how to do things, what to expect, and how to make money. I became a multimillionaire by doing multifamily homes. I have lots of cash flow that shows up every month because of multifamily investments. The multifamily gain has been a blessing. I get to live a lifestyle that most will never experience. Do you want to get out of the rat race? I've made a good living flipping, selling, and wholesaling single-family homes, but I created a lifestyle by doing multifamily apartments. Topics on Today’s Episode: When you buy a multifamily property, open 5 bank accounts: 1) Operating, 2) Capital improvement, 3) Security deposits, 4) Escrow, and 5) Owner distribution Believe in budgeting for profit; overdo or outperform your budget to have more money and profitability Move operating money or capex to the side, and let your management company know how much money you're setting aside for other projects Dictate what's going on and hold your management company accountable; know what's going on and what’s important - information and knowledge is power Nugget 2: For student housing, get pre-leases early; overbook leases, just like the airlines, to make up for those tenants who leave Believe that 100% capacity is achievable and sustainable; start a waiting list and get potential tenants to put a deposit down Recognize and pay staff to develop a positive and motivational culture Sometimes people don’t believe you or you may make mistakes; don't sweat it, always stay positive, and learn from others Links and Resources Mentioned: Raising Private Money Course Multifamily Legacy Podcast Facebook page Dave Ramsey   Quotes: “Everybody, write this down or ingrain it in your mind that you want to budge for your profitability.” Corey Peterson “We believe in budgeting for profit.” Corey Peterson “Just always remember that you dictate what's going to go on, and if a management company or someone else doesn't get that, then maybe they're not the right one.” Corey Peterson “You can easily see what's going on, and that's important. Information and knowledge is power.” 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.