Working 35 straight days at a time on an oil rig can really wreak havoc with your life. But transforming into a truly passive real estate investor is like something you only see in a Hollywood script. Not for this week's guest. Meet Travis Watts, the man, the myth and the guy who now probably gets manicures on a regular basis. Good to be him. Learn how in today's episode. 

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From Working 98 Hours A Week To Becoming Financially Free with Travis Watts

While working 98 hours a week, Travis realized that isn't sustainable for the rest of his life. He'd always been a self-educator and understood that real estate investing could be his ticket out. Travis had tried purchasing single-family homes, flipping homes, and even vacation rentals but if he wanted to have the passive income he was chasing those strategies...

This is the first financial measurement that I look at when doing a cash flow analysis. By understanding the Debt Coverage Ratio, I know whether I did the analysis correctly or not. That's why I call this number my "Sleep Number"

Now, I'm going to tell you how I teach Debt Coverage Ratio when I'm in the class. It's expressed as a ratio between the net operating income and the mortgage payment. 

When I put the numbers into the cash flow analyzer and I've got it all in there correctly, I go to the cash flow analysis tab, and scroll right down to the DCR. That's the first financial measurement that I even look at because that tells me whether I can make this a deal or not. It tells me whether the price of the property that the broker told you was way out of whack. It tells me whether my offer price is way out of whack. 

Just by understanding the debt coverage ratio, I know whether I did the analysis correctly or not. And that's why I love the DCR. 

This is how I teach...

If you haven't figured it out by now, I love success stories and especially ones that include stories of burning the ships (see Cortes). Mark Podolsky, a/k/a the LandGeek was living the 'slow death' in corporate America when someone he was working with told him about buying land on the courthouse steps. That's all it took for Mark to change his life and burn the ships.

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How To Generate Passive Income Through Land Investing with Mark Podolsky

Since becoming a burned-out Corporate America employee turned land investor, Mark has learned quite a bit and shares it with us today. As a land investor, Mark likes to have a 300% margin of safety.  This means if he can break-even purchasing a property for $10,000, he'll never offer more than $2,500. The way Mark is able to get his deals so cheap is because he makes...

What a beautiful soul my next guest is. Tamera has transformed her life thanks to real estate and after years of investing is now helping others live the life they want. Then she drops the bombshell on me and says that her next event is going to be in a castle in Ireland. Hey, I always said I want to be able to run my business from a pub in Ireland so maybe I might just get the chance. See you on the old sod!

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Design the Life You Want - Not the One You Get with Tamera Aragon

After Tamera made $80,000 in profit from her real estate deal she has stayed in the industry for the past 16 years. Tamera has designed her lifestyle so much so that she was able to do 5 deals in 3 days while sitting on a beach in Fiji. At a certain point in her life, Tamera understood that you have to live the life you dreamed of. 

...

Damion is a best selling author and noted financial mentor to the elite. Damion became a multimillionaire by age 25 and then lost his $20 Million empire by age 30. Five years later he is back to being a multimillionaire and on today’s show, we discuss what he discovered about self-directed IRAs and why it’s terrible to use in real estate.

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Why the Self-Directed IRA is Ripping You Off with Damion Lupo

In 1999 Damion took a $6,000 cash advance out on his credit card to purchase his first real estate property. In the beginning, he did everything on his own. He kept repeating the same process over and over again. Damion became quite successful while at the same time becoming ever increasingly arrogant. 

During the market crash, Damion lost $20 Million as his ego bested him. After his meltdown, he...

If you haven't noticed yet, I love podcasting. I think my guests are so interesting. And then every once in a while, a guest comes along that just blows it out of the water. That's what happened when I interviewed Paul Moore. It was supposed to be a discussion on how to set up a fund (don't worry, we got to that) but it morphed into one of the best discussions about the state of the multifamily industry. This one will be nominated for a 2020 Award! 

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How To Start Your Own Fund with Paul Moore 

Paul Moore is the managing director and co-founder of Wellings Capital, a private equity commercial real estate fund. Wellings Capital holds real estate assets valued at over $500 Million. You don't have a real estate fund worth over $500 Million and not know what you're talking about or what's happening in the...

Christina Lael is the CEO and Founder of Lael Tax LLC. Christina’s business model is designed to help you save money on your taxes. Christina and I discuss some of the strategies she uses with her clients to help them save on their taxes.

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Save Thousands On Your Taxes This Year with Christina Lael 

Working with Christina myself, I cannot recommend her services enough. I had been looking for a new accountant for myself and she floored me with the presentation that she gave. The strategies Christina shared with me blew my mind and left me in disbelief that the accountant I was working with hadn't been using them. 

On our episode today, we go over some of the tax strategies Christina has used to save her clients money... such as a strategic tax plan, operating agreements,...

Jason and Rachel ran a multimillion dollar mortgage company and then the market crashed and left them reeling. After the market crashed, they had to find a new way to use their talent. Implementing the real estate strategies they have honed over time they have since closed well north of 300+ real estate transactions (pre-foreclosures/short sales, wholesales, probates, etc.) They now run a top coaching program with the nation's leading investors, own a profitable hard money lending company, with over 2 million dollars in loans out to their coaching students at any given time, share their wealth of knowledge as co-owners of their local REIA all the while continuing to flip houses.

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How To Run Your Real Estate Business In 4 Hours Per Day with Jason Roberts and Rachel Schneider 

Jason and Rachel thought they had...

Talk of a recession is growing. Successful investors know how to recognize opportunities that may present themselves during a recession. Charles Dobens discusses how you need a solid business foundation to withstand these market downturns.

So recession talk is growing. This is the other article that I have in the in the Slack room: recession talk is growing. Is it a bad time to invest in real estate? All right, let's talk about this for a second. You know recession is always coming at some point. The recession is going to hit a recession is going to hit at some point. Who knows if it’s going to be a big one or a little one. I know they were saying that we are already in one already during the Trump administration - that we are already in a recession. I don't think so. You know maybe a recession of 20 years ago is not the recession of today.

There are opportunities and deals to be had in every market. Remember, more millionaires were made during the depression than any other...

I had the distinct pleasure to get Jake and Gino on my podcast. What a blast and a great time. We talked about our business, what makes us tick and what the future holds for the multifamily business. I hope you enjoy this episode as much as I did making it.

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Ever Wonder What Three Multifamily Gurus Talk About When They Are Alone? With Jake and Gino

How did Jake and Gino go from nothing to owning over 1500+ units and having $100,000,000 in assets under management? It all started with humble beginnings, a quest to enjoy the one life that they were given. They started together and quickly learned that their core values aligned together.

Gino had been trying to invest in NY, but the market just wasn't there. Jake was looking to invest in Knoxville, TN. For six months Jake lived by himself, away from his wife. It took...