#10: Stop Paying Taxes, Legally! I'm Not Kidding with Vern Schmidt
Ever hear about the guy who doesn't pay taxes? Well, in today's podcast you get to meet him and learn how he does it legally year in and year out over the last 20 years. Here's the clue, understand the tax laws better than the IRS and have you or your spouse be full-time in real estate. Meet my old friend Vern Schmidt take us through opportunity zones as well as tax planning for real estate investors.
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Stop Paying Taxes, Legally! I'm Not Kidding with Vern Schmidt
Vern had been working at AMC when the company was bought out by Chrysler. In his role, he had 200 people working for him. Because AMC was bought by Chrysler, Vern received new options, but they couldn't be exercised for 5 years. Unbeknownst to Vern, he had encountered phantom income and was ordered to pay $200,000 before he could even exercise his...
#09: Where The Multifamily Real Estate Market Is Going and What You Need To Do To Be Protected with Ellie Perlman
As you know by now, I have a lot of great guests and a lot of fun with them. Ellie Perlman is no different. Even Deb, when she finished editing the podcast, called me up and said "I Love Ellie!" And you will too. We get candid about what we think is going on in today's multifamily marketplace.
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Where The Multifamily Real Estate Market Is Going and What You Need To Do To Be Protected with Ellie Perlman
Ellie was leading commercial real estate transactions for Israel's largest developer with transactions valuing over $100 Million. Growing up poor in Israel, Ellie made the decision that's not how she was going to live her entire life. This is when she decided that she was going to be a lawyer.
While her parents weren't able to give her anything monetary, they instilled a belief in her that she could do...
#08: Nice Guys Finish First in Multifamily Round 2 with Doug Benson
I have been training, teaching, mentoring multifamily investors for over a decade and I always talk about how nice multifamily investors are as people. Doug Benson and his lovely wife Debby are case studies in why I say that. Meet one of my oldest students, Doug, and learn how he buys value-add apartments with other people's money, rehabs them, turns them, refinances the people out and owns them himself lock, stock and barrel, all while remaining one of the nicest guys I have ever met!
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Nice Guys Finish First in Multifamily Round 2 with Doug Benson
Doug had been working in IT until he left his job in 2017 to go full-time in managing and owning multifamily properties. While Doug left his job in 2017, Doug and his wife Debby have been owning multifamily properties since 2004. The first property they bought was a...
#07: Nice Guys Finish First in Multifamily Round 1 with Mike Butler
Another member of the nice guy hall of fame is MFIA Owner Forum member, Mike Butler. As one of the charter members of the Owner Forum, Mike has been with me from the start. He's a Physicians Assistant and when I spoke to him, he was still in his scrubs at the hospital. Listen to the story of his most recent deal and how he got it done THE RIGHT WAY!
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Nice Guys Finish First in Multifamily Round 1 with Mike Butler
Mike is a doctor from the Philly area. Mike had done around 20-25 single family rentals and flips. But he knew that he needed other forms of cash flow to come in. Mike's a doctor, so I'd consider him smart. And as a smart person, he understands that real estate is not a quick rich business, but he was going to figure out how to bring in more cash flow.
When Mike first got started in...
#06: Two Multifamily Investors Were Walking Down the Street . . . . (find out what happens next on this week's podcast) with Jeff Greenberg
How would you like to hear two seasoned multifamily investors talk about their past experiences? That's exactly what happens in today's episode with Jeff Greenberg. We talk about everything from our first deals all the way to our worst deals!
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Two Multifamily Investors Were Walking Down the Street . . .
When I talk with Jeff Greenberg, I feel as though I'm talking with an old friend of mine. Jeff was an original student of mine. He first became my student in 2009 and ultimately, made his first deal in 2010.
Jeff owns 300 student housing units in various locations around the country. He also recently closed on 225 units in Amarillo, TX. While I don't prefer to invest in Texas, Jeff likes to call it the landlord friendly state.
Over the course of the episode, we talk back and forth between our first deal and our...
#05: Making the Big Move - Single to Multis with Seth Ferguson
It's no secret that if you want to build massive wealth one of the easiest ways to do it is through multifamily investing. Today's guest, Seth Ferguson had been investing in single family home but learned that if your tenant moves out you no longer have an income stream until you find your next tenant. Whereas with multifamily investing you have multiple streams of income to help minimize the loss from a vacancy. Seth will walk you through how he went from investing in single family home to multifamily properties.
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Making the Big Move - Single to Multis
Before Seth started as a real estate investor, he was on the brokerage side as an agent. Seth quickly learned as an agent that when...
#04: Cost Segregation Made Easy for Multifamily Investors with James Liechty
As a real estate investor, you're always looking for ways to save money and generate more cash flow. Today's guest, James Liechty will walk you through how he helps his clients use cost segregation to save millions.
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Cost Segregation Made Easy for Multifamily Investors
To start, you may be asking yourself what cost segregation is. Cost segregation in the simplest terms is the acceleration of depreciation. Accelerated depreciation is good because it helps you pay a lesser tax to the IRS. It makes sense to do a cost segregation when you can make additional deductions. However, when you're a passive investor your deductions are limited.
When does it make sense to do a...
#03: Rags to Riches in Multifamily with Rennie Gabriel
You may think that in order to become a successful real estate investor, you have to start in your 20's or 30's. Today's guest, Rennie Gabriel proves that to be wrong. Rennie was flat broke when he was 50, even having to use a coupon to buy a burrito for his wife. I'm proud to say that today, Rennie is financially free and can live however he chooses. Listen to today's episode below to learn how to build a multifamily investing empire from nothing.
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Rags to Riches in Multifamily
Rennie has quite a unique story. I first met him when I was out in Southern California. Since then he's become a great friend of mine and someone who proves that it doesn't matter your age, you can build wealth on...
#02: Day Trading for your Multifamily Real Estate Business with Larry Goins
While I've heard some unusual ways to raise money to invest in multifamily properties, my guest Larry Goins has the story that tops them all. Larry was able to generate cash from real estate day trading that allowed him to invest in multifamily properties. Larry story is one that defines that it doesn't matter where you start, all that matters is where you end.
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Day Trading for your Multifamily Real Estate Business
The first thing Larry mentions when it comes to real estate day trading is that you always have to be generating leads. The more leads you generate the greater chance you have of finding a property that works. One way Larry generates leads is through direct mail.
Once...
#01: The Seven Rules of Multifamily Real Estate with Bob Damigella
In the world of multifamily investing, there are certain rules that you should follow. These rules are tried and tested. In today's episode, I speak with Bob Damigella on the seven rules of multifamily investing.
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The Seven Rules of Multifamily Real Estate
- Rule 1: The biggest lie in multifamily is the asking price
- Rule 2: Life's too short to buy "C" class properties
- Rule 3: Owning multifamily property changes your life
- Rule 4: You can fix anything on a multi-family property except overpaying for it - NEVER OVERPAY
- Rule 5: You can find deals in your own backyard
- Rule 6: Always remain in control of the deal
- Rule 7: If you’re not making offers then this nothing...
