Category Archives: real estate investment

creating wealth, financial freedom, investing in real estate, Podcast, real estate coaching, real estate investment

How to Create a Freedom Lifestyle with Investment Property

September 9, 2022 Myrna Young

Mike Wolf has made millions from, investment property, and created, freedom lifestyles, for many of his investors. Mike has helped investors in the Atlanta area build wealth and passive income from, investment property, by offering them turnkey services.

I wanted to spend some time on how to build wealth through the vehicle of, investment property, As you know I am a Realtor, an Investor, Property Manager and a, Life Coach, so I have a very high-level overview of how to build wealth through home ownership or with, investment property.

So, this month I will be interviewing experts in the field of, real estate investments, investment property, as I help you to get into the space of building wealth.

Wealth is the vehicle that you need for any successful venture in your life, whether it's to give your kids a better life, whether it's to have financial freedom, whether it is to retire wealthy, whatever you need to do, you need money unfortunately to do it with. So, building wealth through, real estate investments, investment property, is what we're going to be focusing on for the next three remaining episodes in our four-part series.

So what I will be doing is bringing you experts who have made millions through, real estate investments, investment property, and who will share the details and how they did it so you can do it too! Be sure to subscribe to your iTunes, Google play, Stitcher, iHeart Radio, or TuneIn Radio, so you're not missing any episodes.

Mike made his wealth from offering turnkey, investment property, services to in the Atlanta area. His system allows his investors to sit back and collect, passive income, while living a, freedom lifestyle,

Mike Wolfe has been a real estate investor for over 28 years. Over the years he's gone from being a workaholic who would put in 15 hour days, seven days a week to someone who works smarter, not harder. He regularly travels the globe doing humanitarian projects and seeking Sun and sand while living off the, passive income, that he's created through his, investment properties,. Mike's company sells, turn-key real estate, and, investment property, in and around Atlanta to investors around the globe. He helps his investors create truly, passive income, where they get all the benefits of owning a real estate, investment property.

Starting your investment property business

I started, investment property, in Calgary Canada. I was only investing in Canada back then at the beginning of my, passive income real estate, career but I had a friend of mine move to Las Vegas and when I went to Vegas to visit him, I got into this addiction. It's not what most people have when they go to Vegas. It was not gambling or drinking. It was actually this addiction to go look at real estate. I noticed that back in those days the prices of, investment property, kept going up and up.

I had no intention of investing in Las Vegas originally but I ended up doing it and it was kind of at that point I was forced to start building a team, because I couldn't be in two places at the same time. I couldn't go collect my rent from my, investment property, in Calgary and my rent from my, investment property, in Las Vegas. So, I reluctantly hired a property manager.

Three phases of investment property business cycle.

At first, I find most entrepreneur's do is we go through three phases if we survive long enough.

The first phase is where we do everything ourselves, usually because we don't think anybody else can do what we do as well, and we don’t have the funds to hire help. It’s kind of like for an entrepreneur our business is like a birthing a baby and you don't trust just anybody with your baby.
The second page where I had no choice but to get somebody to help me, so I reluctantly hired a property manager; but phase two is what I call the micro manager phase. I needed to about know every little thing that was going on. So I basically told my property manager to keep me in the loop with every repair, every issue with the tenants. I remember there was one week where my property manager called me twice with the same issue, it was about a broken fridge. Two of my properties had a fridge that wasn't working and in either case I tell the property manager. I don't think the tenants need a new fridge, just fix it. I realized I gave the exact same answer. Let's see what it cost to fix it and if it's over a certain amount then we'll replace it. I started thinking if I gave him the same answer both times maybe I can systematize this and instead of him having to call me, I can give him the freedom to follow our systems and procedures manual, which is to find out what is the cost to fix and if it's more than X number dollars let's just replace it.
Phase three was where I hired a team and put the right persons on our team. You trust them and they do a good job for you. I started to realize that I could build a whole team like that, where I put the right people in the right position, give them a certain system so that they were following my procedures then it made me feel comfortable to let them do their thing. I would get my time back and so that was kind of the start of the transition to my, freedom lifestyle,. That now has led to a typical work day for me these days is literally. I wake up, I answer some emails and make a few phone calls when Myrna asked me to do a radio interview I do that and then I'm done for the day!

How to become efficient in, investment property, business:

After 28 years in the, investment property, business I still go to seminars. I still open to seeing how other people run their businesses and how they make their money. I'm always looking to be more efficient. I also do a lot of personal development of work on myself. Back in the early days I thought I was too good for all that; but the most successful people I know are all lifelong learners, or at least they're always trying to strive to be better and get to that next level.

I'm making it sound like it was a very short transition like I just did some deals and I became rich and start traveling the world. There were a lot of ups and downs along the way.

Let's say that you know someone is listening to this podcast right now and they want to quit their job and go into real estate full-time, because obviously they can make much more money in, investment property, real estate then they can working for a pay check.

How would someone start an, investment property, Business?

If I could go back 28 years and talk to myself, the first thing I would ask myself is, Do I want to have my money work for me, or do I want to work for money?

Take advantage of the benefits of, investing in real estate, to create, passive income,

Investment property, is something you buy once and it generates income forever until you sell it.

You've got to be ready for that kind of commitment. You’ve got to treat, investment property, as a career. You don't dabble in it. If you dabble in it and try and mix it part-time and with your job, I don't see very many people being successful.

That's the number one thing. Figure out what type of investors you want to be. You want to be creating, passive income, or you want to get out of your job and make this your career?

Make sure you have a passion for, investment property, don't get into it just because you see those shows on TV that make it look really easy, flipping this property and that property. These shows make it looks like you can just every day wake up find a property, flip it, make a couple hundred grand and call it a day. It doesn't work like that.

So number one thing is to figure out what kind of investor you want to be. Then the second thing that I would do is figure out what resources you have. Whichever side of that equation you're on. Whether you're the passive investor side or whether you're an active investor. Figure out what your resources are. How much cash you have available? How much time do you have? How much education do you have?

When I first started I got really lucky on that first deal, otherwise there would have never been a second deal. Then I had some humbling experiences that made me go get educated. I got a mentor, somebody to help me. So I didn't go winging it.

Joint ventures in, investment Property,

If you were to go do a joint venture with somebody. You have to decide what are you bringing to the table. Are you bringing money? Are you bringing the ability to qualify for the mortgage? Are you bringing education? Or are you're bringing access to good deals? Figure out what you're adding and then figure out what you're lacking and then go find joint venture partners. Find other people that have the pieces that you're lacking. So if you have a lot of spare time and no money, there's a lot of people out there with money who can't create more hours.

I want to be enjoying time with my grandson and my daughter doing a lot of volunteer work and humanitarian things. I don't want to be door knocking, looking for good deals anymore. So if I find somebody who's got some time, I have got the money.

If you start off on that track asking yourself those two questions, then you're going to have a pretty realistic chance of succeeding and going forward in your, investment property, business. A lot of people have really big dreams because they go to some seminar where they make it sound really easy, because they're trying to sell you some high-end expensive, investment property, coaching program. They fill your mind with all these things you can achieve and probably only about two percent of people who go to those seminars ever end up not even earning their money back that they spent on the seminars!

People come to me after they've invested a lot of money in their education and their education is pretty much worthless. So make sure you do your homework and you know what the reputation is of these quote-unquote gurus that are selling stuff. They are professional marketers.

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Biggest Myths in, real estate investment, investment property,

I think I think a lot of myths are perpetuated by the media. We see all these shows about flipping this and flipping that. I feel the biggest myth is that you know, real estate investment, and, investment property, can create, passive income, but it can also become something that takes up a lot of your time. You might be trading your eight-hour day job for a 20 hour a day job. It can be fun it's exciting because you're out there and you're meeting new people but sometimes when you spend so many hours working on your business, you kind of forget about things such as your health, such as your family and other things start to fall apart.

A lot of people get into, real estate investments, investment property, because they think it's going to change their lifestyle to a, freedom lifestyle, and they actually end up with actually sometimes with a worse lifestyle with no freedom, because, investment property, is something you take home with you every day. You can't just say oh I'm going to work from 9:00 to 5:00 today on my, real estate investment, business. Because guess what at six o'clock when you're having dinner with your family, a tenant will call about a leak in the bathroom! And you have to take care of it.

Additional Resources:

https://www.forbes.com/sites/forbesrealestatecouncil/2018/07/26/eight-things-you-need-to-know-before-buying-your-first-investment-property/#10ac9ea45a93

https://time.com/money/collection-post/2954483/should-i-buy-an-investment-property/

http://blog.myhelps.us/real-estate-investment-fund-fix-flip-series-are-rental-properties-worth-the-headache/

http://blog.myhelps.us/true-wealth-path-financial-freedom/

Podcast, real estate coaching, real estate investment

How to Build Wealth with Turnkey Real Estate Investing

August 4, 2022 Myrna Young

Building wealth with, turnkey real estate, is offering fully finished performing properties that have inspected, warranted, and professionally managed to, real estate investors. The benefit of this service to a new investor or even an seasoned investor who already has a portfolio, is we just know that we can do it better than they can.

You want to invest in, turnkey real estate, near or in bigger cities, near big employers, and near downtown areas.

How to build a turnkey investment business

Jeff Schechter, CEO and co-founder of High Return Real Estate teaches, how to build wealth though, turnkey real estate investing. Jeff has been helping his clients, build wealth, though, turnkey real estate investing, for close to 40 years.

As a Realtor, real estate investor, as well as Life coach. I myself have been in the, real estate, business for some time 19 years. So, I can lend a lot to this conversation. In fact, if you google, Realtor Life coach, I am at the top of the list!

CEO & CO-FOUNDER Jeff Schechter, aka “Shecky” has had the entrepreneurial bug his entire life. He started his first business right out of college, and over the years been involved in numerous businesses ventures. His love for, real estate investing, began in the 1980’s, when he rehabbed 5 of his own residences, before the term, house hacking, even existed.

Since those early days of torn up kitchens and bathrooms, he’s bought and sold many properties, and is an active investor to this day. In addition to, real estate investing, he operates a private consulting practice. He thrives on helping people realize their full potential…not just in business and investing, but in all aspects of life.

How to get into turnkey real estate investing

I kind of sucked at school. I was not very focused. I came from an incredibly traditional background, where I just reversed a lot of expectations placed on me. As a result, it was very difficult for me to follow through with stuff in college. So, entrepreneurialism and starting my own businesses were really a form of necessity, because I didn't really have any terrific formal training. It was also a form of establishing my own, freedom Lifestyle.

Myrna: What made you choose, real estate, as your business?

I just always kind of have this entrepreneurial bend and would look for ways to increase my income. Eventually I started seeing that high ticket items like homes, had lots more opportunity for profit. I figured out back in the 80’s, I could buy them in not as good a condition and be able to buy them for a whole lot cheaper than what the pretty ones were, and I could fix them up and add a whole lot of value to them, because people were willing to pay a premium for the really nice homes.

So what I would do is, I would just live in them for a year or two while I was fixing them up and then I would sell them and move on to the next one. It was a way to make some really nice extra profits and live for free for many years.

That was kind of the initial seeds of my, real estate investing, career before I started, turnkey real estate investment,

That's also a good model as well, because you know the government helps you with the capital gains tax breaks. If you live in a house that’s your primary residence for two years and sell that home, then you can earn up to $250,000 in tax free income if single and $500,000 if married.

I actually didn't know that at the beginning, but learned it very early on. I would figure out that I wanted to live in most places exactly two years and one day!

I was listening to the audio book “The Automatic Millionaire Homeowner” and the author was interviewing a lot of homeowners who started off with purchasing small homes, like buying a $30,000 home and then selling it to buy a bigger home and so on and so on. One homeowner couple who started off with like $3,000 or something like that to buy their first home ended up making $500,000 on a $750,000 property. All tax free!

http://blog.myhelps.us/how-to-invest-in-real-estate-with-no-money/

How to start your turnkey real estate business

Myrna: What is your advice for someone who is starting out today, Real Estate Investing, in 2019?

Someone starting with a small house or a condo or something and trying to build wealth?

There is a bit of a downturn going on in the current Real Estate market, but you know, Real Estate, is cyclical and there's a natural cycle. When we look back at what happened in 2009, the banks were doing some really stupid stuff. Anybody could get a loan, even if they didn't have a job. It had to crash. Fast-forward to today, there's been a lot of laws and regulations that has been put into place to prevent that situation from happening again.

But playing the appreciation game is dicey. It's not the way that we invest anymore in our, turnkey real estate investment, model; appreciation is not our primary concern. What I mean by that is the only thing that we know for sure is that people need basic things. They need food and they need shelter, and so from a shelter standpoint, we know that owning a basic property whether you call it a house, duplex, apartment, whatever it is, always going to be something that's in demand, because people will always need a place to live.

You want to invest in, turnkey real estate investing, near in or in bigger cities, near big employers, and near downtown areas. Rental properties are always going to be in demand in those areas. So what we look for from a standpoint of, turnkey real estate investment, are properties that we can buy inexpensively and sell as, turnkey real estate investing, that we don’t have to put a lot of money into rehab. The price to rent ratio is everything to us. In other words, can want to get a really good return on our money when we put that property out there into the rental pool.

So cash flow is more important to us than appreciation. We start by getting that thing rented and cash flowing. Even after we take out all kinds of money for taxes, insurance, property management, repairs all that other kind of stuff, can we still make a really attractive and in most cases, a double-digit return on our, turnkey real estate investing,.

If we can do that, we don't really give a crap about appreciation. We don't even really care if we have a little bit of depreciation, because we always have the demand for the rental properties, and as such we will always have cash flow. If we always have cash flow, we always have a great asset and the investors are happy.

Transform your Mind Spotify Podcast — Download on Spotify

How to Build Multiple Passive Income Streams

May 16, 2022 Myrna Young

Looking for, passive income streams, for retirement? Jack Gibson, President of High Return Real Estate, shares how to use real estate to build passive income.

Today’s episode in the 3rd in our series on building wealth with Real Estate investments. My intention is to sow seeds into your subconscious that 2019 is the year to build your net worth. The power of intention is an invisible force of energy in the Universe. It is activated when we become inspired and will propel us towards our goals.

Looking for a Passive Income Coach? Check out my one hour coaching special on Shopify

Guest Biography

Jack Gibson began his entrepreneurial journey at 19, and founded his first company at the ripe old age of 21. Operating a successful nutrition consulting and distribution company. He had built a multi-million dollar venture before he was old enough to rent a car. Soon thereafter, he bought his first home as an investment. One home quickly became five, and then the bug hit. He became obsessed with learning everything about Real Estate Investing and soon had over 50 investment properties generating Massive amounts of passive income. Today, Jack spends his time mentoring other entrepreneurs, building his real estate investment portfolio, and helping other investors to build a brighter future through the power of turnkey real estate income.

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Show Notes

My very first business that I started at age 19 was a multi-level marketing nutrition distribution business. The whole goal of that business was to build up a sales team and create ongoing, passive streams of income, so I got that concept right away. I built that business up over the years and we currently have annual revenues over ten million dollars. The last couple years it's been a little bit more part-time or quite a bit more part-time as I pursued building my real estate company.

But I mean I still love it, I still love the people and I love the, passive streams of income,. Two years into my network marketing company, I read the book Rich Dad Poor Dad, that was the book that really transformed my mind to start thinking about utilizing real estate as a way to deploy the cash that I was making in my primary business and add additional, passive streams of income,. I was still investing in stocks until about 4 years ago. I was in stocks for most of the last 14 years, so about four years ago two events happened that were critical and really pushed me over into investing into real estate as another, passive streams of income,

There were two negative events, but you know most negative events if we look back we can find the good in them. One of them was I had some insider information, not anything illegal by any stretch, I mean I knew that our company had a good earnings quarter. I mean it wasn't that hard to figure out based on what I heard from all my colleagues, so that's kind of my insider information.

I bought into the stock about a week before the earnings report was to be released expecting things to be great. Well the earnings report was phenomenal and typically, not always but typically stocks go up when the earnings report is great. Well this billionaire Hedge Fund investor was very well known as an activist in terms of shorting stocks. He gets on our company earnings call, he asked three or four pointed questions and then it appeared that he was shorting the stock; the stock drops 30% overnight.

Stocks as a, passive streams of income,

I realized then that I didn't have control over stocks. Not even a sure thing is guaranteed. I want to be in the driver's seat and put myself in a great position where I have as much control over the outcome as possible. I took that as my sign that this is my time to learn a new asset class and another, passive streams of income, it was the final push. I told myself, I'm going to draw the line in the sand. So I studied real estate and listened to podcasts for a hundred straight days.

Jack you know that someone listening is going to pay devil's advocate and say the same thing happens in real estate. What's your come back on that?

So here's what we have to consider when looking at real estate as another, passive streams of income, we look at the past. I mean could go back 100 even you know 200 years or whatever, the variance between real estate and the stock market is almost four times different. If you look at historical data, the swing in the stock market is around a variance of 16 or so from year to year. Real estate has a variance of four. That means from year to year on average that the swing in the market is going to be four percent, so you're not quite so volatile in real estate.

The other part in this, passive streams of income, scenario is it that you're investing in the real estate as Robert T. Kiyosaki says, for the cash flow that it produces. Not necessarily for it to go up in value. You really don’t care if it appreciates or depreciates. As an investor and you're renting it out and you will always be able to rent it out for more than the mortgage payment.

At the same time property values will go up eventually, even if it dips for a little in the short term. I was listening to the Automatic Millionaire Homeowner and the author was interviewing homeowners who lived in their homes for about 2 years and then sold and moved to bigger homes, and became millionaires because homes always go up in value.

We've discussed real estate, we've talked about the stock market and we've also talked about multi-level marketing. I understand why that's been your foundation for, passive streams of income, because you've been you've been taught well. You stayed in the business for 20 years so you must be really doing well, because everybody that joins the business under you feeds you, passive streams of income,.

Multi-Level Marketing a Tool for generating, passive streams of Income,

Yea, it is phenomenal. If I could describe the business to people without saying what it was they'd be like wow that sounds too good to be true. I have a multi-million dollar business that I work right here from my home office. That I help people with their health and nutrition. I have no employees, I have no accounts receivable. I have no inventory, I have no monthly overhead whatsoever. I have a free cash flowing business that produces ten to twelve million dollars in sales revenue per year. That's not obviously my income; but a percentage of that.

Skilled , passive streams of income: Writing a book, Music, software

That’s why, passive streams of income, is so important. On my website, www.myhelps.com I talk about a some other forms of, passive streams of income, like writing a book, or writing music. Mariah Carey wrote the song “All I want for Christmas” in 15 minutes. She's generated sixty million dollars in royalties off of that 15 minute work. So her, passive streams of income, is phenomenal.

Explain what we mean by, passive streams of income, which ones would you recommend it to a seasoned investor or someone just starting out?

Passive income is created from work you have done in the past, that is paying you today.

You have one or two scenarios. You either have money at work or capital at work and you're drawing royalties. There's multiple ways to go about creating, passive streams of income, it boils down to either unskilled or skilled forms of passive income. It’s like what you talked about in terms of creating music and selling music, or writing a book, or creating a piece of software that you then are able to license out and sell. Those are very technical skills, very skilled types of, passive streams of income,.

Creating, passive streams of income, from a business I won't say is unskilled in terms of work. It does it takes skills to put the right management team in place. There's a way you can have any type of business that you set up to become a, passive income stream, if you're not involved directly in day-to-day operations, then it's a, passive income stream, business.

To listen to the full interview, download on iTunes and please subscribe and leave a review.

Check out Jack on the web https://highreturnrealestate.com/. All of our properties are listed on the website. Nicole is the Head of Investor Relations and she will be happy to answer any questions.

On the nutrition side, we have a brand new system, it's a nine week online body transformation Course that we're planning on scaling so that over 10,000 people can participate. Check out Jack's Body Transformation podcast

Additional Resources:

Top 20 Areas In Miami For Increasing Property Values

25 Best Passive Income Ideas to Make Money in 2019

https://wellkeptwallet.com/passive-income-ideas/

https://wallethacks.com/passive-income-ideas/

http://blog.myhelps.us/create-a-freedom-lifestyle-with-investment-property/

career development, creating wealth, Life Coaching, Out Of The Snares, Personal Development, Personal Development Podcast, Podcast, real estate coaching, real estate investment, wealth mindset

How to Succeed in Commercial Real Estate

December 27, 2021 Myrna Young

I thought about all the things I could sell and, commercial real estate, looked like the biggest assets and I figured they must have the biggest commissions.

Martin Sawa's story is about the American Dream. He went from selling hair brushes door to door, to becoming a success in the world of, commercial real estate, in the top market of San Francisco.

Download the audio here

https://pdcn.co/e/https://chrt.fm/track/897G7/www.buzzsprout.com/1761155/9794688-how-to-succeed-in-commercial-real-estate.mp3?download=true

Bio

MARTIN SAWA is a first generation Ukrainian American, former San Francisco real estate power broker, and author. His remarkable rise to, self-made wealth, from the humblest beginnings. A devastating loss forced him to reevaluate the meaning of success, and how the impact of love, family, religion, and race shaped the metaphorical zoetrope of Martin’s own, American Dream.

A son of poverty-stricken Ukrainian immigrants who as a teenager sold hairbrushes door to door, Martin later quit a stable 9-to-5 job to try his hand at the high stakes world of San Francisco, commercial real estate, in the early ‘80s. As the demands of the job required more and more of him, Martin found himself in the grip of, alcoholism. It would take a tragedy to pull him out of it.

Martin’s new book THE OTHER SIDE OF SUCCESS: Money and Meaning in the Golden State is an account of the new American experience, told from the perspective of a first-generation immigrant who made the, American Dream, a reality. The book tells stories of the glamorous and cutthroat world of, commercial real estate, in the second most expensive market in the country. Readers will be inspired by Martin’s tenacity and drive as well as his resilience in the face of personal trauma and tragedy.

Getting started in Commercial Real Estate

Myrna: I love your story. Can you bridge for us as we start off. I know you sold hairbrushes from door to door. What was your entry into, commercial real estate, like? How did that happen?

Martin: Well, at the time I was almost 30 years old, (I had grown up in the Midwest but moved to California) I was living in Oakland which is across the bay from, San Francisco. I had a dead end job – I was driving 40 miles one way down to San Jose and I was a city planner.

One day, I was standing at the counter processing permits and a developer came in. He was angry and waving his plans. As I looked at him, he was like a silver fox with a big gold medallion. I wondered why I was doing what I was doing because not only did I not like the job, I was dead broke and my then wife was pregnant with our daughter. So I just quit and walked away. I didn't know right away what I was going to do, but then I remembered when I was a teenager my first sales job.

Specializing in Commercial Real Estate

I thought about all the things I could sell and, commercial real estate, looked like the biggest assets and I figured they must have the biggest commissions.

Myrna: Yes, why not go for it?

Martin: I go for it and I started out. There are many specialties or work opportunities and, commercial real estate,

You can do brokerage,
leasing office space,
property management
I chose to be in investment property sales which was the riskiest because these deals took months to put together.

If they came together at all! You weren't guaranteed a paycheck and usually had to wait a long time to see the money. It took me a year before I actually got my first commission check. So, that taught me how to make ends meet without having any money coming in.

Door to door sales is usually the first entry into sales

Myrna: Wow, there are tons of things I want to circle back to, – one my entry into sales was similar. I sold encyclopedias from, door-to-door sales, and found that I was good at it. Not because I had any, sales skills, they didn't really teach us any, sales skills, but I learned that I had the, personality, that people would buy from me.

I went into sales later on in my career as well. As I mentioned, I'm a, Realtor, but, door-to-door sales, kind of started my, sales career. I've always sold that way with my, personality, not necessarily knowing that there's a stage one, two and three, sales skills, and following it kind of format.

The second thing is about, real estate, whether it's, commercial real estate, or, residential real estate, is that you are working and you don't get paid until there's a closing. So, obviously, the bigger the deal, the longer it's going to take to put together, the longer you have to wait for a pay check.

Pandemic affected Real Estate

I started trying to get into, commercial real estate, just before the pandemic hit. Everybody wanted, multifamily real estate, because they said it was recession proof. Real Estate Investors, and there were people calling me all the way from California and all around the world even as I'm in Florida. They wanted these, multi-family deals. What happened is that the sellers wanted more money that the buyers were willing to pay.

So, I was never able to get it married, get a marriage and get this big ass commission because I offered one of the buildings for $10 million, so it should have been a really nice commission but then the pandemic happened.

Now it looks like multi-families wasn't recession-proof because now, nobody really wants to touch him because of the eviction ban. The tenants are not paying their rent and you can't evict the tenants.

https://www.ebay.com/e/home-garden/certified-refurbished-small-kitchen-appliances?mkcid=1&mkrid=711-53200-19255-0&siteid=0&campid=5338901090&toolid=20014&customid=&mkevt=1

https://ebay.us/8jbkWb

Commercial Real Estate Glamourous and cutthroat

Myrna: Why did you say that, commercial real estate, is glamorous and cutthroat?

Martin: It’s the people would use you up and just throw you out, that kind of thing – like they do in the residential. Well, first of all, you have to understand my perspective or baseline. My parents grew up in Ukraine in the years before and during the Second World War, they lived under both Hitler and Stalin so it doesn't get any worse than that.

I will say one thing and if you've been in the business and you understand that you can work like crazy a year on a deal and it falls apart and on another deal you can work 10 minutes, five minutes and make a huge commission and you have the mindset that that's the way it works. If I could predict which deals I was going to close, I could have worked one month out of the year!

Myrna: You mentioned that San Francisco is the second largest, real estate, market in the USA. So, I'm assuming the top is New York?

Podbean Transform your Mind Podcast — Podbean

Martin: It always used to be Manhattan but then with the expansion of Silicon Valley, and in San Francisco, (historically was a financial services city) there are insurance companies, banks etc., but with the technology explosion, it moved up into San Francisco so now half the tenants are tech. The whole nature of the business changed in terms of who were your customers and clients, and with tech you got all these. All of a sudden, billionaires living 30-40 miles down the Peninsula, in the Los Altos, Hills of Palo Alto etc., and the prices not just in San Francisco but throughout the Bay Area just exploded.

Commercial Real Estate in San Francisco

So, San Francisco, caught up to Manhattan sometime in the last five years and just in terms of absolute property value per square foot, not only for commercial but for residential as well.

Myrna: You said that when you were doing, door-to-door sales, you had a mentor that taught you the skill sets to sell and you said it was transferable. Can you give us a bit of the skills that you learned doing, door-to-door sales, and how you're able to transfer those skills into being successful a, commercial Real Estate agent?

Door-to-Door sales convert to Commercial real estate skills

Martin: If you sold encyclopedias, you understand it's the most kind of basic Fundamental mono a mono that you can have. It's you and another person, and that person in my case was typically a housewife in her personal home environment. So, it's you the housewife. The key is – if they open the door at all you have a minute or two to develop trust to get in two minutes and you either do or you don't.

If you're broke and extended on credit cards and have a baby girl and two step kids, you're going to do whatever it takes to get in that door, and that cannot be taught. The sales supervisor can kind of tell you how to do it, but you've got to be hungry. That’s pure desire, you take the rejection and keep going. If you get rejected at ten houses, you're going to go to the 11^th. So, once you get in, there are techniques for converting the trust into an order and making a commission. I was again fortunate because the mentor I had was very good at teaching me these, sales skills.

Alcoholism and commercial real estate

Myrna: Before we get into your book, what happened that made you become an, alcoholic, and how did tragedy and self-resilience pull you out of that?

Martin: Well, there’s just a little back story in the little town I grew up in. I had a population of 5000 people and 40 bars. Most of the male population in the town was quote, alcoholic. I was a two-fisted drinker and that was a compliment. I mean that's just the way those times were and it's still that way in many parts of the world, in rural areas where alcohol drives a lot of choices that people make and sometimes they're not very good.

I started drinking beer in cornfields when I was 12 and then, I went to College and I finished at University of Wisconsin in Madison which was a huge party school and it's just something I did. When I got into, commercial real estate, there were all the functions and cocktail parties, so I just remained a, functional alcoholic, in the business, but it became more and more of an issue when I remarried my second wife.

She became the person who was not only wife and lover, but became my spiritual mentor in moral compass and she had powers in what I call the world of the unseen. I think you probably can guess what all that involves. It got to the point that there was a major incident (I won't give you the spoiler), you just have to read the book, but it came down to her saying “you either quit drinking or that's it”.

I got it and I did what I had to do then, but the really most impactful experience in my life was a few years later when she dropped dead one night. There was nothing to prepare for that experience and that's when I really had to evaluate the big picture and business and all of that and then life and meaning.

Tragedy and alcoholism

Myrna: That is you've got “a you” and a great story. There are so many different nuggets and many different checkpoints in there. You said you share all this in the book so that people would be able to understand the, sales skills, understand how you were able to move through, alcoholism, and now you're on the other side.

You learned the fundamentals like you said and then you're able to build on that by being at the highest level of, real estate. You know, commercial real estate, and in a city that is number one or number two interchangeable in, real estate. I'm pretty sure you've got a lot of good stories in there.

Your book “The other side of success, money and meaning in the golden State”, my favorite question to ask authors is what do you want readers to walk away with after they close the book?

Martin: If I just wanted to work off grief, I could have kept the personal journal. First and foremost I created it as a story. I think I have a good story that even if, commercial real estate, is not something the reader has a high interest in, they will find enough else in there about life and so forth – that they'll find rewarding.

Living the American Dream

Myrna: Your parents lived in the Hitler era, you came to America as we all come to America hoping for the, American dream.

You found that dream, but along the way you had some personal tragedy and, Alcoholism, but you were able to get over to the other side. Now, as you write the book, you're sharing the story of personal tragedy and success with some business nuggets. Do I get that right?

Martin: Yes, exactly okay. I try not to get too technical also because this is for the general reader in terms of, there's one chapter devoted just for, commercial real estate, and share how I put a deal together. I try not to get too much in the financial aspects and all of that.

Myrna: That's good though, because when you've got, commercial real estate, in the tagline, someone will pick it up because they're in, commercial real estate. So, it's good that you have a chapter on putting together deals in, commercial real estate.

Conclusion

Martin: If listeners would like to buy the book, the easiest thing is just to go to my website www.martinsawa.com. You can buy it online from Amazon or the bookseller of your choice. With another click, go to my social media sites where you can see some of my other archived interviews. If you scroll to the bottom you can send me an email. I love to hear from readers.

Myrna: This was a very great interview. Like I said, I love combining self-help with a bit of business and building wealth. In the, commercial real estate, you didn't want to talk about your commissions, but I am sure they were impressive. The deals may take one or two years to do, but in the end it's rewarding. Do you have any last words for the readers?

Martin: Yes. Take advantage of the time while you have it because you never know when the big guy is going to call your Number.

Additional Resources

How to Own the Sales Process from Prospect to Client

Real Estate Investing with No Money

coaching, connected investors, creating wealth, financial freedom, investing in real estate, Mindset Transformation, real estate coaching, real estate investment, wealth mindset

Real Estate Investing with No Money

May 4, 2021 Myrna Young

Real estate investor, Trainer Trevor Evans, teaches, how to invest in real estate with No Money. Trevor teaches, how to get funding for your deals, fix and flip, your, investment properties, and, how to flip a house.

Watch the YouTube video to learn how to Invest in Real Estate from a, Rich Dad, real estate investor.

What you will learn about Real Estate Investing in this motivational video:

1. What are some strategies to purchase property for your, real estate investing, business with little or no cash?

There are several way to do this. You can max out your credit cards, you can set up a lease to own deal, you can get seller financing.

2. What does, Hard money lenders, look for in a good deal?

They look for the ROI or return on investment

3. How do you make your deal attractive to a, Hard money lender?

Show that the resale value is at least 40% higher that the investment.

Strategies using other people's money to fund your, real estate investments:

1. Using your credit cards to fund your deals. The more credit you have the better off you are!

2. Hard money Lenders, Hard money lenders, look at the asset and not at your credit score.

3. Borrow money from friends and family. You convert them into, Hard Money lenders, and pay them a good interest rate to start your, house flipping, business.

4. Borrow from your Whole Life Insurance policy.

2. Take a loan from your 401K.

3. Take out an Equity line of credit on your personal house.

The commonly used strategy in, real estate investing, is the use of a, Hard Money Lender.

You need a, Hard money lender, for your, real estate investing, business. A money lender does not look at your credit, what does he look for?

1. Your expertise. Most, Hard money lenders, want you to have three investments under your name. This does not include your personal residence.

2. The ARV or after repair value. The property must have equity before the deal is made.

3. How did the property come on the market. Eg is it a Foreclosure, short sale or probate.

4. What is your, exit strategy? Is your, exit strategy, to, buy and hold, or, fix and flip?

5. How long you need to complete rehab work.

6. How much is the estimated cost of repairs.

Hard Money Lender do not offer 100% Financing

Make no mistake, hard money lenders, need borrowers to deploy their capital and get a return on investment for their capital partners. They often enjoy repeat business, real estate investing, aren’t typically one-time borrowers, so asset-based lenders like, hard money lenders, or, private money lenders, value the business relationships they develop with quality borrowers.

Real estate investing, with no money down or little or no cash is to borrow from, Hard money lenders, who charge high interest for short term loans. When, hard money lenders, provide a loan, they want to be confident that the, borrower, is able to repay the loan on time. If the, borrower, isn’t able to pay back the loan, this creates a great deal of extra work, stress and potential financial loss for the lender. A strong, borrower, with a significant down payment (or equity in the property) and cash reserves has the best chance of obtaining a, hard money loan, and succeeding with their, real estate, project.

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Looking for a, Hard Money Lender? Here is an article from Connected Investors on how to get bids on your project.

Transform Your Mind iHeart Radio — iHeart Radio

Connected Investors, the world’s largest, real estate investing, network and marketplace, today announced the launch of the first centralized real estate investment funding portal, CiX.com. The technology allows real estate investors to quickly and easily submit their deals to a network of asset-based lenders, ensuring the best terms for loans on their, investment properties.

Subscribe to the Transform you Mind podcast with Coach Myrna to get notification of all shows, Life coaching tips as well as Real Estate Investment tips and strategies.

Additional Resources

http://blog.myhelps.us/how-to-create-the-freedom-lifestyle-through-real-estate-investments/

How to Build Wealth with Turnkey Real Estate Investing

blog, creating wealth, financial freedom, growth plan, Mindset Transformation, Podcast, real estate investment, small business, wealth mindset

Real Estate Investing: Are Rental Properties worth the Admiration?

March 9, 2021 Myrna Young 2 Comments

Real Estate Investing, in Rental properties gets a lot of admiration because of, passive income. Usually there is positive cash flow in, rental properties.

Joke of the day Rental properties

A young woman, pursuing a graduate degree in art history, was going to Italy to study the country's greatest works of art.
Since there was no one to look after her grandmother while she was away, she took the old lady with her.
At the Sistine Chapel in the Vatican, she pointed to the painting on the ceiling. ‘Grandma, it took Michelangelo a full four years to get that ceiling painted.'
‘Oh my, ‘the grandmother says.
‘He and I must have the same landlord!'

A few weeks ago I interviewed my co host Trevor Evans on the topic “The path to Financial Freedom” We received such an overwhelming response to that topic that I decided to have a spin off on, Real Estate Investing. This is episode #2 in the series: Real estate investing, “Funding, Fixing and Flipping. Is Owning, rental properties, worth the headache?

As a realtor for over 17 years, investing in, rental properties, has been my space up to this point. I own several rental properties and I also manage several rental properties.

My co-host for this podcast is Trevor Evans: Speaker/Trainer for Legacy Education Alliance and Rich Dad Education. Trevor is also an Entrepreneur, Real Estate Investor. Banker and Founder of Personal Awakening Brand “Being Normal Sucks.”

I met Trevor earlier in the year when I attended a Get Motivated Seminar and signed up for a 3 day, real estate investing, seminar. I met my co host Trevor Evans at this program and let’s say his vast knowledge on the subject of, real estate investing, and, real estate, opened my mind to new opportunities.

I didn’t know what I didn’t know!

His knowledge base was extensive. I immediately enrolled in the Legacy Education Alliance, investing in real estate, training program.

Real Estate tip of the week

What is your best choice as a, real estate investment? From the book “Your money and how to keep it by Brian Costello”

Real Estate, will be a natural choice for many as an, real estate investment, vehicle. Generally, real estate, can be counted on to rise in value over a period of time. If you want short term investments, you can use short term investment vehicles like treasury bills. Other options are gold, commodities and the options market. Small investors are now also switching to Mutual funds because they offer a great deal of flexibility, and they can be cashed in at any time.
So, the best investment choice depends on your country laws as it relates to Capital Gains tax vs interest tax. In the USA and Canada, interest is taxable while you can make a lot of money tax free with capital gains.

Todays episode of Fund, Fix and Flip is sponsored by, Myrna Young Realtor

Are you looking to invest in the south Florida market? The time is ripe for investors. Call Myrna Young at Century 21 Selling Paradise 239-542-5777 for all your Wholesale or Rehab purchases, Buy and Hold, rental properties, or Property Management services. We are licensed in real estate and property management services and can also buy or lease your home. Don’t delay, Call today 239-542-5777

“Is Owning Rental properties worth the headache?” Show notes:

What are investors doing that is causing the headache?

Not properly screening the tenant.
Most investors are stressed to put a tenant into, rental properties, because it costs to have a vacant property.
That is the underlying reason that they short the screening process or decide to take a risk with a tenant. But it costs more to have the tenant removed and evicted, so the pain of a bad tenant lingers for a long time.
Not understanding the renters mindset
A renter does not have an owners mindset to take care of a property.
The environment the rental is living in determines the mindset of the tenant. If you have a tenant in a single family home that is costing over $1500 per month. That tenant has an owner's mindset and would usually take care of the, rental property, as his own because he or she is probably an executive and is not renting because they can't afford to buy.
Know your tenant
That allows you to skip inappropriate steps.
Understanding the positive cash flow cycle
Buy only properties that need remodeling instead of renovations
Setting up warranty or replacement work directly with local scratch and dent shops
Paying a flat fee to a Property Management company

Additional resources

Some resources for Real Estate Investors:
BiggerPockets: The Real Estate Investing Social Network. There are many free articles and forum threads all for free on how to get started in real estate investing.

https://www.mashvisor.com Use analytics to ﬁnd lucrative traditional or Airbnb properties in a matter of minutes.

https://myhelpsrealestateinvestments.com/ – list of off market properties at discounted prices in Fort Myers, Fl and West Palm beach, Florida

blog, creating wealth, financial freedom, Personal Development, Podcast, positive change, real estate investment, setting goals, wealth mindset

Is True Wealth Financial Freedom?

March 2, 2021 Myrna Young

The path to, financial freedom, comes from the quality of our lives. This is, true wealth.
True wealth, does not depend on how much we accumulate, save, or spend our money.

True wealth, comes from who we are on the inside, and not by what we do, or what we have.

We cannot measure our self-worth by our net worth!

The first step to, financial freedom, is to make the mental shift, that your world in here, will be reflective of your world out there.

This week on Mindset Transformation radio, I interview Trevor Evans, teacher/trainer in real estate investments.

Here is a tip of the week Financial Freedom:

There are 2 types of people in regards to, wealth, one who is magnetized and full of confidence and know his potential, and the other is demagnetized and full of fear and doubt, and he tells himself I will fail, I could lose my money, people will talk about me behind my back etc. So, he does nothing. He takes no risks!

As you have probably figured out, the demagnetized man will never get very far.
I love the parable Jesus told about the man who was going on a long trip. He called his servants and entrusted his money to them while he was gone.
He gave 5 bags of silver to one, two bags of silver to another, and one bag of silver to the last.
The servant who received the five bags of silver began to invest the money and earned five more. The servant with two bags of silver also invested and earned two more; but the servant who received one bag, dug a hole in the ground and hid the master’s money.
When the master returned, he was full of praise for the two servants who invested his money and increased it; but the servant who gave him his money back with no increase he called “wicked and lazy.”
The moral of the story is the path to, financial freedom, is investing what you have to earn more. Let your money work for you. Also it show those who use well what they are given, even more will be given to them; but those who take no risks and do nothing, even what little they have will be taken away.

There are 3 honest ways to financial freedom.

The first is to work for it. The common consensus is that with a few exceptions you can never become, wealthy, working for someone else.
The second way is to inherit it. For most of us, inheritance is not a sure bet.
The third way to, financial freedom, and the most powerful way, is to invest it. Let your money work for you. Compound interest, is one of the most powerful tools in the accumulation of, wealth. Let it work for you. Do you know if you put $2000 in your 401k at 21 years old and let it grow with an annual compound interest of 10%; at age 65 it would have grown to over $1,000,000?

I love this article from Inc.com

Financial freedom in America

Nassim Taleb said, “The three most harmful addictions are heroine, carbohydrates, and a monthly salary.” But salaries, fed through cubicle farms, are worse than addiction: salaries are slavery. While starting a company may emancipate you from salary slavery, most founders are enslaved to their startups — trading family time, personal health, and happiness for late nights, long commutes, and stress. So where's this, financial freedom, in the Land of the Free?

This week on Mindset Transformation radio w/ coach Myrna and podcast, I interview Trevor Evans, Speaker/Trainer. Trevor is going to talk about the mindset of an investor, what you need to do to think like an investor and not an employee as well as some foundational tools of real estate investing.

Our sponsors for this episode are A&C Limousine service and Young Real Estate Investment services.
When in the greater Toronto area and ground transportation is needed, look no further. Contact A&C Limousine service for your luxury ground transportation. We will get you there safely and on time. Call 416-892-8336 and ask for Colin.

Are you looking to invest in the south Florida market? The time is ripe for investors. Call Young Real Estate Investment Services at 954-999-6125 for all your Sales, Rentals or Property Management services. We are licensed in real estate and property management and will buy or lease your house. Don’t delay, Call today 954-999-6125

Show notes Financial Freedom:

• Topic: What is, True Wealth: The Path to, Financial Freedom
1. Question 1: Tell us of your path to becoming a Speaker/Trainer for Legacy Education Alliance and Rich Dad Education.
2. Question 2: Before you become an investor, what mindset shifts must you overcome?
3. What I love about the Legacy training is that it focuses on understanding the market and how to use money and not just on the brick and mortar of Real Estate investing. It covers using credit card as an asset instead of a liability. So that is the first mindset shift I think we should discuss.
4. What is the second mindset shift you think is important to acquiring, wealth?
5. If someone listening to this show wants to start investing in, real estate, what advice would you give them and where should they start.
6. When I took your class, you spent the first 2 hours totally letting us wait for the information you know we all wanted to hear but you spent time teaching about Abraham Hicks vortex and frequency. Why was that important?

If you found this content inspirational follow coach Myrna
Facebook @ https://www.facebook.com/MyhelpsInc/
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Twitter @ https://twitter.com/myrna_morris
web: www.myrnayounghelps.com
Also please subscribe to my iTunes podcast and leave a review.
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Additional Resources

http://blog.myhelps.us/is-starting-a-real-estate-investment-llc-a-good-idea/

blog, creating wealth, Entrepreneur, financial freedom, investing in real estate, Mindset Transformation, Personal Development, Podcast, real estate coaching, real estate investment, wealth mindset

How to Get Started with Wholesaling

February 20, 2021 Myrna Young

Wholesaling, is often marketed as a low-to-no cost way of getting into real estate investing and this can be true. A new, wholesaler, can certainly profit with a much lower initial cash outlay than a, real estate investor, who has to buy a property and rehab it.

In, wholesaling real estate, a real estate, wholesaler, contracts with a home seller, markets the home to his potential buyers, and assigns the contract to the buyer. The, wholesaler, makes a profit, which is the difference between the contracted price with the seller and the amount paid by the buyer.

What Exactly is Wholesaling Real Estate?

Wholesaling, is often marketed as a low-to-no cost way of getting into, real estate investing. However, the successful, wholesaler, has to have a firm grasp of what makes for an attractive deal – once you understand this process of , wholesaling, it becomes much easier and can be broken down into a serious of repeatable steps.

Word from our sponsors:

Are you looking to invest in the south Florida market? The time is ripe for investors. Call MyHelps Real Estate Investment Services Services LLC at 954-999-6125 for all your Sales, Rentals or Property Management services. We are licensed in real estate and property management and will buy or lease your property. Don’t delay, Call today 954-999-6125

How to Build Wealth with Turnkey Real Estate Investing

My co-host today on this podcast is Trevor Evans.
Trevor is a Professional Speaker, Real Estate Investor, Retail Store Owner.
Speaker/Trainer for Rich Dad Education and Founder of Personal Awakening brand “Being Normal Sucks.” Trevor has also been married for 19 years and have 2 beautiful daughters ages 22 and 18.

Are you on a journey to find happiness through the doorway of wealth?
Living in financial abundance is one way to find happiness but not fulfillment.

You deserve happiness, and you CAN attain it.

The Transform Your Mind with Coach Myrna podcast has entered into collaboration with with Swami’s Brahmananda to offer my listeners guidance and the power of an entire community of happiness seekers, so you too can wake up happy.

For more information please clink the link below and start your Happiness journey

www.nakedmoment.com/transform

Show Notes:

How to get started with real estate wholesaling

Investors ready to learn how to start, wholesaling houses, will be happy to know the process is not complicated. Here are a few simple steps to get started, real estate wholesaling:

Research your local market before getting started.
Find a realtor with off market discounted properties.
Secure a financing source that works best for you. This is usually a Hard Money Lender.
Begin searching for potential, wholesaling, properties by driving for dollars.
Decide whether to sell the contract or assign the contract.

Transform your Mind TuneIn Radio — TuneIn Radio

What is a step by step plan to becoming a Real Estate Wholesaler?

Step 1: Create a Database of buyers:

Contact local Rehabbers and Contractors and ask them what kind of properties they are looking for to rehab.
You can find them at your local Chamber of Commerce or your local REIA

Ask them these questions.
1. What kind of properties are they currently rehabbing?
2. Type of properties they like to work with Eg. Single family or multi family?
3. What are they certified to work on? Eg. Are they certified to work on burn down or water damaged properties?

Step 2: Put an AD on Craigslist
Ask the following questions when you get responses to your AD
1. Is the property listed with a Realtor?
2. Are you speaking with the owner of the property?
3. Is the property in, Foreclosure, probate, bank owned, or free and clear
4. Does the property need rehab? If so what is the estimated cost of repair.

Step 3: Put together your power team which includes your Title and Escrow Agent.
If you structure your deals properly, you could use one escrow deposit for 10 properties!

In our first episode you talk about process. You said that setting up a process prevents failure.
What is the process for the real estate Wholesaler?

Wholesaler Website: do you need one

My friends at Connected Investors wrote this article on Getting started with, real estate Wholesaling.

Wholesaling, is often touted as the easiest entry point into the world of, investing in real estate. And financially speaking the barriers to entry are generally a lot lower, especially when compared to fix and flipping or buy and hold investing. Many experienced, professional investors have door-knocked and bandit-signed their way up the REI ladder without having more than a cell phone, gas money, and the will to WIN. read more …

• If you found this blog post inspiring, please Subscribe, Rate and Review this Podcast, then send me an email to info@myhelps.us with the subject line “podcast review” and I send you a free gift.

Free eBook: Wholesale Plan of Action Cheat Sheet

This cheat sheet was created by Connected Investors and goes into further detail on the Wholesaling steps.

Additional Resources

http://blog.myhelps.us/is-starting-a-real-estate-investment-llc-a-good-idea/

How to Build Multiple Passive Income Streams

creating wealth, investing in real estate, Podcast, real estate coaching, real estate investment

How to Make High Returns Investing in Mobile Home Parks

January 16, 2021 Myrna Young

Mobile home parks, are a great, real estate investment, because of their low maintenance, high returns and overall affordability. There’s a strong argument for, mobile home investing. Listen to this interview with Jefferson Lilly, mobile home park, investment expert and educator and learn why and how you should be investing in one of the, real estate, industry’s hidden gems.

Jefferson Lilly is the founder of Park Avenue Partners, a private equity real estate fund that acquires and operates, mobile home parks, nationwide. His investment funds are currently returning 8% – 15% cash annually to Limited Partners. Both personally and through his partnerships, Jefferson has acquired 25, mobile home parks, in 13 states since 2007 totaling over $56mm in value.

He also started the industry’s first, mobile home park podcast, and the largest group on LinkedIn dedicated to, investing in mobile home parks. Jefferson has been featured in The New York Times, Bloomberg Magazine, and on the Real Money television show. He holds a B.A. from the University of Pennsylvania and an MBA from the Wharton School of Business.

Listen to the full interview here:

Warren Buffett advises that we should stay within our circle of competence, so I figured that I had always lived in a house or apartment so that was within my circle of competence. I started looking for traditional apartment buildings; but kind of stumbled into, mobile home parks,. I began researching it, in then realized why, mobile home parks, was really the best niche in, real estate.

How to Get Started investing in, Mobile Home Parks,

I started out by buying my first, mobile home park, it was a little under $500,000. I put down a little less than $100,000 and I borrowed almost $400,000 from a bank. I still had some other reserves and I still had my day job. Just to be clear, at no point you can say like hey, mobile home park, next stop actions is silicon valley. I was looking for passive income, I had two streams of income the, mobile home park, and my regular W2 income for about a year. It's now just coming up on 12 years later and I haven't looked back.

The first, mobile home park, I purchased, I just bought the land, I didn't actually buy any of the homes at that time. My tenants owned all the, mobile homes. There were about 45, mobile homes, in the park. I purchased the land and the, mobile home, owners paid me rent to park their homes in the park. Think of it as a parking lot. You own the lot, not the cars parked on the lot. The cars pay you to park there. Same concept in a, mobile home park.

Sponsored AD

Investing in, mobile home parks, instead of mobile homes

Then about 5 years ago, I formed my first partnership to start acquiring, mobile home parks, Nationwide. Now sometimes I buy, mobile home parks, with the homes as well as the lot.

We call those a horizontal apartment building of sort, our colloquial term for that. Most of the, mobile home parks, the owner of the park does not own the, mobile homes, and the owner is paying rent to the park owner.

Whenever we buy a, mobile home park, with the homes, we tell the tenants, hey you can now own your own house for the same monthly payment as renting. Depending on the value of the house they can own after about thirty six months or less then 60 months. When they become homeowners they have to actually maintain the houses. It’s just like real home ownership, they’ve got to put on big-boy pants, there now a homeowner. So when that proverbial toilet leaks, they don't call me. They have to go to Lowe's or Home Depot and spend $12 for the part instead of the $200.00 it would cost me to send in a plumber to fix.

The optimal way to own these, mobile home parks is to not own the home but just home the park. You don’t want to be responsible for fixing leaky toilets and such.

If you don’t have the money to buy, mobile home parks, for $500,000 as most of you will not, then buying individual homes and fixing them up or something and selling them or even renting them would be a good start. I know one gentleman who started with just a couple thousand dollars and now owns over 50 mobile homes.

How to talk to the owner of the, mobile home park, to get a deal

If you don’t have a lot of money to start, investing in mobile home parks, what you can do is you can go to a, mobile home park, owner and say. Hey do you have any individual, mobile homes, in your park that are just sitting there vacant? Maybe they need some renovation so you you can hopefully find a win-win scenario.

That Park owner may even give you the house for free or maybe just for a couple thousand dollars. You then put some sweat equity into it. You paint, put in new flooring etc. Your agreement with the park owner is that maybe you've got a couple months to get the house fixed up. Hopefully you can do it in one month and then indeed you'll begin paying the lot rent. Because that house is just sitting there un-renovated and obviously the, mobile home park, owner is getting no cash flow off it because it's sitting there vacant.

So you get a month or two abated lot rent, you fix up the house and then rent it or sell it. You might then get an extra two to three four hundred dollars a month for the house depending on the market. You put that additional money in your pocket, and that is how you get started.

The average income of a, mobile home, owner is around $35,000 annually. That’s about three thousand a month. So their housing budget is around a thousand dollars a month. Most folks that make thirty five thousand a year aren't going to be able to save up twenty thousand for a down payment on a single family home, so that is the target market for the mobile home buyer. Our, mobile home, a 3 bedroom, 2 bath rents for about $800.00 per month. We offer a rent to own package and in 3 to 5 years, they can own their own home. Beats a 30 year mortgage any day.

Additional Resources

http://blog.myhelps.us/build-wealth-turnkey-real-estate-investment/

https://www.forbes.com/sites/brandonturner/2017/07/11/7-powerful-benefits-to-mobile-home-park-investing/#2f9eb1476e92

My interest was peaked after interviewing several mobile home park investors on The BiggerPockets Podcast, and later finding The Mobile Home Park Investing Podcast, hosted by Kevin Bupp and Charles Dehart of Mobile Home Park Academy. I realized that mobile home park investors were crushing it right now.

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