Collecting Keys - Real Estate Investing Podcast

What did you think of todays show??Collecting Keys PodcastEpisode 54There are endless lessons to be learned when flipping a house. The process involves buying a distressed property, fixing it up and reselling—ideally, quickly—to make a profit. Usually, these types of properties are found through foreclosures, bank short sales or auctions. When it comes to old properties, you can often just keep going by peeling back layer after layer, and in between a lot of junk (and rat poop), you’ll probably find a few treasures. First time flipper and software engineer Alex Marmon, who partnered with his brother to completely redo a 118-year-old house, decided to just dive in head first. Together, the pair threw any concrete plans they started out with right out the window and worked towards achieving a set of goals, working off a gigantic, never-ending checklist. In the end, it took a lot longer than they had hoped it would, but the experience they’ll carry into their next flip is invaluable. Alex’s ability to focus on the minute details all while keeping the bigger picture in mind meant that he kicked ass flipping a property that was nothing if not unique, and a challenge from the word go. Tune in to hear some of his top tips and advice for other first-time flippers!Topics discussed in this episode:Alex’s background and how he got into flippingThe beauty of starting smallAlex’s advice for first-time flippersFlipper finds cause of deathThe dollar versus time budgetKnowing when to plan and when to just go for itImportance of taking your timeGo ahead and rip, but do it strategicallyIf you are interested in learning from Dan and Mike to receive coaching and learn how they built their business, check out instantinvestorprogram.com and see if you are a good fit for the mastermind group! Resources Mentioned:collectingkeyspodcast.cominstagram.com/collectingkeyspodcastInstantinvestorprogram.cominstagram.com/mike_investsinstagram.com/investormandan

What did you think of todays show??On this episode of the Friday Focus, Mike talks about the NUMBER 1 thing he wish he knew when he first started (or at least was trying) to wholesale real estate. Surprise this isnt a marketing tip, or systems tip, but just a mindset and general sales approach that so many new wholesalers dont initially understand.Have you learned this lesson yet on how to deal with sellers?Check it out, and let us know what you think.Resources Mentioned:collectingkeyspodcast.cominstantinvestorprogram.cominstagram.com/collectingkeyspodcastinstagram.com/mike_investsinstagram.com/investormandan

What did you think of todays show??Having a network of friends and connections is a must in any field of business. But building strong relationships takes more than just reaching out to experts. Don’t be passive and wait. Create connections and bring value to your relationships in the world of real estate.In this episode, Mike and Dan discuss the right way of networking as a new investor. Learn how you can benefit from your network and find ways to bring value to them as well.Here are some power takeaways from today’s conversation:Be careful when working with difficult dealsScale your real estate business with networksCreate a mutually beneficial relationshipContinuously bring value to your relationshipsDevelop a collaborative mindsetEpisode Highlights:[01:31] Summer Real Estate DealsMultiple people are willing to sell their properties. Despite the question of a market crash, there are many ways to buy houses regardless of the price.[18:30] Meetups to NetworkNetworking isn’t just about who you know. Meetups can be a good way to connect with others. But these events often connect you with people who are in similar situations. So networking this way can take a long time.[21:11] Networking With MoneyAlthough costly, there are two ways you can build a network as a new investor:Buying a house, getting a contractor, and going through with a deal.Paying to become members of groups to network, learn, build your reputation, and find opportunities to work together.[25:22] Networking With ValueIf you’re a new investor and not yet ready to spend in order to create your network, here are different ways you can find people and build valuable relationships:Don’t simply reach out to a person and ask for their time.Create a mutually beneficial exchange.Identify a specific need they may have and provide value.Interact virtually with them regularly.Have a collaborative mindset and develop your social skills.[33:18] The Importance of NetworkingIn real estate, networking and building relationships are vital to scaling your business. Take the step forward to connect and find a way to consistently bring value to your relationships.Notable quotes from the Episode:[18:32] “... when it comes to the real estate business, it isn’t only about who you know, and who knows you.” [25:13] “... the world becomes a very small place when you start bringing value to other people and showing that you can put time and hustle in...”[30:41] “... if it comes to virtual relationships, you're trying to connect with people and other groups. Honestly, the easiest way is interacting...”Resources Mentioned:podcasts.apple.com/us/podcast/tribe-of-millionaires-podcast/id1110145229zillow.comcollectingkeyspodcast.cominstagram.com/collectingkeyspodcastInstantinvestorprogram.cominstagram.com/mike_investsinstagram.com/investormandan

What did you think of todays show??On this Episode of the Friday Focus, Mike dives into one of the BEST ways he found to create capital to invest in Real Estate. And that is the Live In Flip. BUT he approaches things with a different view. Believe it or not you dont have to subject yourself to a live in flip where you are having to be without a kitchen for a month or having to sleep in the living room while you redrywall the bedrooms. He goes into how him and his wife did a Value Add on their own home and ended up with $80k in working capital to invest with.What are your thoughts? Great idea? Terrible idea? Either way let Mike know by sending him a DM on instagram @mike_invests.Resources Mentioned:collectingkeyspodcast.cominstantinvestorprogram.cominstagram.com/collectingkeyspodcastinstagram.com/mike_investsinstagram.com/investormandan

What did you think of todays show??Collecting Keys PodcastEpisode 50Imagine being able to invest in properties and create a diversified portfolio where your mortgage and living expenses are paid for by the rent paid on each property. It is essentially passive income, and sounds like a dream. This dream is possible, and there are many that are getting involved in creating wealth through buying to rent properties. To make things better, you can buy homes that are ready to rent the moment the keys are turned over to you, which are appropriately named, turnkey properties. This way you can start earning rent the moment you have possession. This is something Zach Lemaster realized was a lucrative business and decided to dive head first into the real estate business after leaving his career as an optometrist and former air force pilot. Zach is so passionate about helping others create wealth through turnkey properties just as he has, that he wants to share how he did it and offer information on how you can get involved on our podcast today.Tune in to hear how you can start to build the life of your dreams!Topics discussed in this episode:Zach’s background and how he got into real estateOptimal demographic Zach works withHow Zach went from being an investor to a turnkey providerHow Zach picked a remote marketMaintaining quality when working with multiple partnersWho is the ideal avatar for Zach’s businessCapacity to help with cost seg for single family home vs. commercialAdvice on where to start when buying a houseHow Zach has done well in this competitive businessZach’s craziest real estate storyWhen Zach realized his success in real estateSummary of build to rentTo learn how you can invest in real estate and rent to retire, head to Zach’s website here!Where to Find Zach and Rent to RetirementIG: @renttoretirementinvestFB: @renttoretirementTikTok: @renttoretirementTwitter: @Rent2RetirementIf you are interested in learning from Dan and Mike to receive coaching and learn how they built their business, check out instantinvestorprogram.com and see if you are a good fit for the mastermind group! collectingkeyspodcast.cominstantinvestorprogram.cominstagram.com/collectingkeyspodcastinstagram.com/mike_investsinstagram.com/investormandan

What did you think of todays show??In this Friday Focus, Dan takes the drivers seat and dives into his thoughts on Real Estate Cash Flow, and how so many influencers, wholesalers, and other investors are mislead others (or are misled themselves) on how much money they are ACTUALLY making. He dives into a real deal that is in our portfolio and goes over how to find your real cash flow to make sure you dont get yourself underwater without even realizing it.If you have other focus Friday Topics you would like Mike or Dan to cover, please email them to mike@collectingkeyspodcast.com or DM him on instagram @mike_investsResources Mentioned:collectingkeyspodcast.cominstantinvestorprogram.cominstagram.com/collectingkeyspodcastinstagram.com/mike_investsinstagram.com/investormandan

What did you think of todays show??There’s always someone looking to sell their property. Some of them might not have thought of it until you’ve presented it to them. It’s up to you to reach out, find leads, and close good deals with different marketing strategies.In this episode of Collecting Keys Podcast, we’ll talk about the power of direct mail marketing in finding good deals. Make the most out of it by learning to use it effectively and efficiently. Here are some power takeaways from today’s conversation:Reach out for opportunities to find the right buyerMail directly to your target demographicCustomize your mailBe consistent and follow up with your leadsFocus on quality over the quantityEpisode Highlights:[3:50] The Struggles of Real EstateHave a well-established team to take care of your units. Scale your real estate business to secure your finances and double your net worth over time.[14:04] Opening Opportunities for the Right BuyerYou need the right processes to find the right buyer. Reach out and open up opportunities to many others. Being known for your good reputation allows more opportunities and larger margins on your deals.[18:00] Finding DealsFind good leads and close deals using direct mail marketing for off-market real estate. Though more costly, this strategy gives you a better chance to reach your target demographic. Unlike cold calling, direct mail is a warm sales process that yields consistent and quality deals.[22:40] How to Make Direct Mail More EfficientDespite its costly drawbacks, you can make direct mail more effective by:Optimizing for your target audience.Customizing your mail to stand out and be more credible.Being consistent. You might not be what they need at first, but you can be there when they’re ready to make a deal.[31:09] Making It WorkCold calling or texting doesn’t always work in all markets. Focus on quality instead of quantity. Be consistent with your marketing strategy to reach its full potential. Have a good sales and follow-up process to turn your leads into closed deals. Notable quotes from the Episode: [8:07] “...if you’re going to do real estate you probably should do it at some level of scale. You shouldn't just do one because if you have one rental property, and something goes wrong with it, you now have personal liability and your finances...” [21:51] “...the advantage is you can be much more strategic about who you target, and you can guarantee that you’re gonna be getting in front of them...”[33:40] “...when it comes down to leads, it’s all about quality over quantity...”Resources Mentioned:propstream.com/mikeinvests collectingkeyspodcast.cominstagram.com/collectingkeyspodcastInstantinvestorprogram.com instagram.com/mike_investsinstagram.com/investormandan

What did you think of todays show??In this Friday Focus, Mike talks about one of his favorite concepts in life which is that "You Are The Sum Of The 5 People You Spend The Most Time With". He discusses how this concept had a detrimental effect on him back in his corporate days, but also how he has leveraged this belief to elevate himself and his business by being intentional about who he interacts with on a most regular basis. Its about more than networking, adaptations in life are about constant exposure. And dopamine hits from highly motivational people wont get you to the next level, you have to be enveloped in them.Enjoy Mike's ponderings on this concept in this short Friday Focus.If you have other focus Friday Topics you would like Mike or Dan to cover, please email them to mike@collectingkeyspodcast.com or DM him on instagram @mike_investsResources Mentioned:collectingkeyspodcast.cominstantinvestorprogram.cominstagram.com/collectingkeyspodcastinstagram.com/mike_investsinstagram.com/investormandan

What did you think of todays show??You’ve got money to invest in a property, you’ve found the perfect one, and now you’re ready to get started on your renovation project. All that’s left is to find a contractor — but that’s easier said than done. It can be tricky to find the right people for the job and keep them on track, but with a little bit of organization, it can be done.In this episode of Collecting Keys Podcast, we will discuss how to find the right contractors and build a relationship with them to ensure a successful project.Here are some power takeaways from today’s conversation:Be patient with dealsCreate opportunitiesPrepare exit strategies for projectsSecure the necessary legal documentsBuild trust and rapport with contractorsOutline the materials neededMonitor their progressEpisode Highlights:[1:07] The Oil House FiascoAfter a leak in the oil furnace in the oil house they were renovating, they almost faced a lawsuit. Don’t let your insurance company dispatch a remediation company. Either use your own crew or dispatch a reputable company within your market.[6:47] How to Thrive in the Current MarketMost deals aren’t easy, but you just need to be patient. Learn to find and create opportunities. Prepare different exit plans and legal documents. It’s also crucial to be adaptable to the market shifts and not be stuck in one box.[16:39] Finding ContractorsWhen you cannot rely on the market, you will need to learn how to find contractors and manage projects if you’ll be doing rehabs. Here are some pointers:Get someone with:a general contractor backgrounda crew that they runConsider the target time on the project.Determine what tasks you can assign to the contractor.Build rapport and trust with the contractor before making them a partner in the deal.Interview the contractor about their projects.Ask them:What’s your scheduling?How do you do this certain task?What elements of the project are you going to sub out?Keeping these in mind will help you build a relationship with the contractor. It’ll also help you find out the estimated cost.[26:48] Managing Materials and ContractorsGo room by room on the materials and things they want to do. From there, you can outline the materials and how to procure them. Pay them based on phases or weekly. Leverage technology to check in on the contractor’s progress.Notable quotes from the Episode:[7:44] “... if you provide high-class properties in growing areas where people are going to need that gap housing, you could probably get some primo rents from some really good people.”[29:36] “You shouldn’t expect a contractor to trust you right off the bat if its your first time using them (and you need tor respect that).”[33:15] “Use technology to your advantage.”Resources Mentioned:collectingkeyspodcast.cominstantinvestorprogram.cominstagram.com/collectingkeyspodcastinstagram.com/mike_investsinstagram.com/investormandan

What did you think of todays show??On this Friday Focus, Investor Man Dan Austin takes the drivers seat and talks about the importance of having buying principles so that when things get weird in the current market.As we have watched other companies both in our local market and nationwide suddenly get squeezed and punished for being complacent with their principles, suddenly the revenue we know we have missed in the past couple years doesnt seem so bad.Listen in as Dan talks about his principles of investing and how to set your own so you are most likely to always come out on top.If you have other focus Friday Topics you would like Mike or Dan to cover, please email them to mike@collectingkeyspodcast.com or DM him on instagram @mike_investsResources Mentioned:collectingkeyspodcast.cominstantinvestorprogram.cominstagram.com/collectingkeyspodcastinstagram.com/mike_investsinstagram.com/investormandan