EP248: How to Get Started When You're 50 Years Old - Interview with Bill Manassero

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This episode of Investing in Real Estate is brought to you by ZipRecruiter. With ZipRecruiter, you can post your job to 100+ job sites with just one click. Visit ZipRecruiter.com/investing to post your jobs for free!

Is it ever too late to start investing in real estate? Here on the show, we always talk about planning for retirement, but what if you're already at retirement age? On today's podcast, I'm joined by Bill Manassero, the founder of Old Dawg's REI Network.

Bill is here to share his experience diving into the world of real estate at retirement age. We'll discuss how the game changes when you're older, including goal setting and preparing for the handoff process. Bill has so much insight to share; you won't want to miss episode 248 of Investing in Real Estate!


More About This Show
Bill Manassero has an incredible, unconventional story. He and his wife spent the last 12 years serving as missionaries in Haiti. But when he returned to the states, he was met with a harsh realization: he was nearing retirement age, yet had hardly planned for retirement at all. 

When he received an unexpected inheritance check in the mail, he started thinking about the smartest way to turn that pile of cash into a stream of cash. He'd already dabbled in the stock market, so he was intrigued by the idea of investing in real estate. 

Bill read Rich Dad Poor Dad and got into the mindset of creating passive income and legacy wealth. After doing some research on investing strategies and rental markets, he picked up a couple of buy and hold properties in Atlanta and Memphis. He had initially thought about his rental properties simply as investments, but once he saw the cash flow coming in, he decided to snowball his efforts.

Bill has set a goal to have 1000 units by the year 2020. It's a lofty goal, but he plans to put it to good use. He's not only using his real estate earnings to fund his lifestyle in retirement, but he also plans to continue to perpetuate and grow his mission in Haiti.

Today, Bill helps other 50+ individuals learn how to use real estate investing to fund their retirement. He has a totally free blog, newsletter, and podcast which he uses to teach people about wealth creation. On today's show, Bill is sharing the finer details of his real estate acquisitions. We'll talk about how he wrote his business plan, and his goal setting mindset. If you've ever wondered about investing over the age of 50, today's show is for you!

On this episode you'll learn:

  • How did Bill write an effective business plan for his real estate investments?
  • What types of properties does Bill purchase?
  • How can you determine if a rental market is emerging?
  • How has Bill financed his real estate purchases?
  • And much more!

Episode Resources
ZipRecruiter
Rich Dad Poor Dad by Robert Kiyosaki
EP199: How to Teach Your Children About Passive Income
Clayton on the Old Dawg's REI Network Podcast
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

Contact Bill Manassero
Website
Facebook
Twitter
LinkedIn

EP247: 5 Reasons Why Real Estate Is a Safe Investment

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Book a call with our team: https://goo.gl/dezwHT

This episode of Investing in Real Estate is sponsored by Fund&Grow. Fund&Grow helps investors access business lines of credit with 0% interest. For $500 off your startup fee, visit morrisinvest.com/funding.

Let’s face it: financial security is important. We all want to feel like our investments are low-risk and secure, that we'll be comfortable in retirement, and that our children won't have to worry about money. But the truth is, most of us have been fed lies about the nest egg and the 401k when in reality, this is not the route to financial security.

On today’s show, Natali and I are sitting down to hash out five reasons why real estate is the safest investment you could make! We’ll talk about unwinding traditional conditioning about finances, how to create passive income, and much more! Don’t miss episode 247 of Investing in Real Estate! 

More About This Show

  1. Real estate can never go down to zero! When you own a piece of real estate, you can always sell it! Even if the value drops, it never becomes worth nothing, unlike a stock.
  2. Real estate is a tangible asset. A rental property is an actual structure on a real piece of land. A stock certificate is just a piece of paper that indicates that you own a share. Since real estate is tangible, it can always be sold and you can claim depreciation!
  3. The real estate investing market is stable. Historically speaking, the real estate market (for investors) has more stability than the stock market. In the areas where we advise investing, you won’t see a dip in values or rental income even in a recession.
  4. Real estate investments appreciate! The value of your property won’t decline—you can count on your rental property to appreciate, even if that amount is small.
  5. Real estate is the best, most reliable way to create passive income. When you purchase a piece of real estate, you’re turning a lump of cash into a stream of cash. That’s true financial freedom! Download our Freedom Cheat Sheet to learn more about creating passive income for your family.

On this episode you’ll learn:

  • What is the reality of investing solely in a 401k?
  • Who really makes money off of a stock based investment vehicle?
  • What is the reality of a cyclical market?
  • Why is the stock market so volatile?
  • And much more! 

Episode Resources
Fund&Grow
The Inventor of the 401k Says He Created a Monster
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

Financial security is important. We all want to feel like our investments are low-risk and secure, that we'll be comfortable in retirement, and that our children won't have to worry about money. Here's why real estate is one of the safest investments.

EP246: Stop Hanging Out with Losers

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This episode of Investing in Real Estate is sponsored by Design My Soap! Designmysoap.com is a website that allows you to create your own all-natural soap. You choose the exfoliants, scents, and add-ins. Head over to designmysoap.com and use promo code INVESTING at checkout to get a free Investing in Real Estate branded vegan lip balm! 

Have you ever heard the saying, "You're the average of the five people you spend the most time with?" In my opinion, that adage is 100% true! When you start to invest in real estate, you'll  undoubtedly encounter naysayers and negativity. 

On this episode of Investing in Real Estate, I'm sharing how you can reach success by distancing yourself from negativity. I'll share three specific steps you can take in order to cultivate positivity and start creating financial freedom. If you're ready to change your mentality and improve the company you keep, this episode is for you! 


More About This Show
Years ago when I worked on a small television show, I noticed that all of my coworkers thrived on gossip. Every day these people spent their time and energy discussing insignificant matters. I quickly noticed how unproductive these conversations were, and I see the same thing in my real estate career now. 

If you take a look at popular Internet forums, you'll find an influx of people who are focused on negativity and drama. I've noticed there's a link between gossiping and being unsuccessful. These people are never action takers, but they sure seem to have a lot to say. And it's these same people who try to diminish others in their efforts to find financial freedom. You might even find that you are related to some of these individuals. 

If you want to be successful, you should take inventory of the people you spend time with. Are you surrounded by people who try to crush your dreams and discourage you? I want you to pay attention to these people. Do they have experience? If they've never purchased a rental property or achieved the goal you're striving toward, I would strongly suggest you find your counsel elsewhere.

Next, start to surround yourself with successful individuals. Seek out those who have accomplished goals similar to yours, and ask them to meet for coffee or lunch! Surround yourself with the action takers, attend local meet ups, and immerse yourself in a community of positive, encouraging people. 

It's also important that you start taking personal responsibility for any negativity that you personally contribute to your situation. Whether it is limiting beliefs or a negative mindset, you have to stop making excuses and start cultivating a mindset that will help you reach your goals.

On today's show, I'll speak more in depth about surrounding yourself with the right people. I'll share my personal experience, and give specific examples of changes you can make. If you want to make a positive change in the new year, this episode is for you!

On this episode you'll learn: 

  • What kinds of people typically put down real estate investing?
  • How can you respond to unhelpful advice?
  • What is the importance of taking personal responsibility?
  • How can you stop speaking negatively to yourself?
  • And much more!

Episode Resources
Design My Soap
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook
 

Surrounding yourself with the right people makes a difference. I'll share my personal experience, and give specific examples of changes you can make. If you want to make a positive change in the new year, this episode is for you!

EP245: Buying and Leasing Raw Land - Interview with Mark Podolsky

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Book a call with our team: https://goo.gl/dezwHT

This episode is brought to you by ZipRecruiter. With ZipRecruiter, you can post your job to 100+ job sites with just one click. Right now, Investing in Real Estate listeners can post jobs on ZipRecruiter for free by visiting ZipRecruiter.com/investing. 

We’ve discussed many real estate niches and strategies here on the podcast, but we’ve never covered the topic of buying and leasing raw land. On today’s show, we’re calling in an expert to discuss exactly how this strategy works!

Today’s guest is Mark Podolsky, also known as the Land Geek! Mark has been buying and selling raw land full time since 2001, and is known as the foremost authority on buying and selling raw land in the United States. On today’s show, Mark is walking us through the process and intricacies of buying and selling raw land. He’s sharing how he does market research, how to find a deal, and much more!


More About This Show
Mark was once an investment banker who hated slaving away at his desk from nine to five every single day. Everything changed when his firm hired an employee who flipped land for a 300% return. Although Mark didn’t know much about investing, he simply began following in this man’s footsteps.

Since then, Mark has completed over 5000 real estate transactions with an average ROI of over 300%. He left behind his soul-sucking corporate job, and now works full-time buying and leasing raw land.

Although he used to focus exclusively on flipping raw land, his strategy is now centered on land contracts in order to gain cash flow. He finds his land in the northwest and southwest parts of the country, as well as California and Florida.

With an owner financed deal, Mark is able to get up to a 1000% return on investment. He prefers working with and contracts because he doesn't have to worry about tenants or renovations. He keeps his model simple, and he has few restrictions on what the buyer can do. 

On today’s show, Mark is walking us through his entire process. We’ll talk about how he does research within a county, and his process of finding buyers. You’ll learn about owner financing, and how he automates his business with software. Mark has a wealth of information to share; don’t miss episode 245 of Investing in Real Estate!  

On this episode you'll learn:

  • How long is a typical contract?
  • What is the typical raw land buyer like?
  • What is Mark's opinion on mobile home investing?
  • What are the three rules for getting started with leasing raw land?
  • And much more!

Episode Resources
ZipRecruiter
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

Contact Mark Podolsky
Email
Website
Facebook
Twitter
LinkedIn

Mark walks us through the process and intricacies of buying and selling raw land. He’s shares how he does market research, how to find a deal, and much more!

EP244: 5 Things to Do Before the Year Ends

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Book a call with our team: https://goo.gl/dezwHT

This episode of Investing in Real Estate is sponsored by eero. With eero, you can install an enterprise-grade WiFi system in your home in just a few minutes. For free overnight shipping to the US or Canada, visit eero.com and at checkout select overnight shipping THEN enter promo code INVESTING.

When you’re a real estate investor, it’s important to have your taxes and finances planned out by the end of the year. Come tax time, it will be too late to take advantage of some of the amazing opportunities and tax deductions that real estate has to offer.

On this episode of Investing in Real Estate, Natali and I are sharing five things you should do before the year ends. We’ll talk about maximizing deductions, goal setting, and much more! If you want to be proactive about your finances and get your ducks in a row before 2018, this episode is for you!


More About This Show

  1. Decluttering. Before the year ends, you'll want to ensure that all of your documents are in order. This means making sure that all of your books and balance sheets are in order, and that you're organized for tax time. Decluttering also applies to your responsibilities. We like to think about what kinds of tasks we can outsource in our real estate business. For example, this year we hired a bookkeeper which allows us to better allocate our time and energy.
  2. Maximize your deductions for 2017. This can mean purchasing more real estate, taking inventory of business purchases, and maximizing accounts like self-directed IRAs.
  3. Cost segregation. A cost segregation is an amazing way for a real estate investor to decelerate depreciation. Although the actual cost segregation doesn't need to be completed in this year to reap the benefits, you will want to have your calculations complete by 2017. This is something you should speak with your CPA about.
  4. Acquisition strategy. It's important to assess whether you'll need to pick up more rentals by the end of the year in order to offset your income. Or perhaps if you're planning on making significantly more money next year, you should hold off until then. It's important to have a strategy in place that will be the most beneficial.
  5. Set goals. Before the new year rolls around, you should take a good look at your goals. Think about how you plan to get closer to your Freedom Number and increase your net worth in 2018. 

On this episode you'll learn: 

  • How can a self-directed IRA benefit a child?
  • What are the tax implications of a cost segregation?
  • How can you start outsourcing in your business?
  • What is the importance of working with a real estate-savvy accountant?
  • And much more!

Episode Resources
eero
ProVision Wealth Strategists
Advanta IRA
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

When you’re a real estate investor, it’s important to have your taxes and finances planned out by the end of the year. Take advantage of some of the amazing opportunities and tax deductions that real estate has to offer.

EP243: Don't Make This Rookie Mistake in Real Estate Investing

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Book a call with our team: https://goo.gl/dezwHT

This episode of Investing in Real Estate is brought to you by Morty! Morty not only simplifies the mortgage process, but they help you find the best mortgage to fit your needs. Whether you’re a first-time homebuyer or real estate investor, head over to trymorty.com/investing to get started today!

I've worked with a lot of real estate investors, and I've noticed that many of them make one dire mistake. I see it all the time—a rookie investor thinks they can make more in rent and attract a higher quality tenant by making extraneous purchases, but it never works out that way. Inexperienced investors often try to over upgrade their property based on what is appropriate for the neighborhood.

On this episode of Investing in Real Estate, I'll share more about why this rookie mistake is such a serious problem. I'll talk about why over upgrading your property decreases your ROI, and I'll give one exception to this rule! Don't miss episode 243!

More About This Show
When you’re renovating your rental property, it’s important to make the home comfortable and safe for your tenants. However, there are certain improvements that simply don’t pay off. In order to maximize your return on investment, you won’t want to waste money on elaborate upgrades.

That’s why it’s important to assess what is appropriate, based on the neighborhood. For example, in a C class neighborhood, your tenants don’t expect high quality amenities or features. More importantly, the rental amount does not change based on these improvements! All you’re doing is decreasing your ROI.

For example in the C class neighborhoods where we invest, it would be excessive to install a bunch of bells and whistles. Our tenants aren't expecting luxury apartments with amenities and granite countertops. And most importantly, they aren't looking to pay for those things. 

It’s important to make your rental property a comfortable and safe home for your tenants. However, there are certain improvements that simply don’t pay off. In order to maximize your return on investment, you won’t want to waste money on elaborate upgrades.

On today's show, I'll share more examples of what it means to over upgrade your rental property. I'll talk about another common mistake I see in this industry, and I'll give of an example of one circumstance in which you should conduct an extensive rehab. Please join me on episode 243 of Investing in Real Estate! 

On this episode you'll learn:

  • How can you leverage a property that is inching toward a higher neighborhood classification?
  • What kind of flooring is appropriate in a rental property?
  • Should you make upgrades when your property appreciates?
  • And much more!

Episode Resources
Morty
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

Many real estate investors make one dire mistake all the time, but it can cost them! Here's the rookie real estate investing mistake you'll want to avoid.

EP242: From Zero to His First Property Fully Rented [Case Study]

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Book a call with our team: https://goo.gl/dezwHT

This episode of Investing in Real Estate is brought to you by Morty! Morty not only simplifies the mortgage process, but they help you find the best mortgage to fit your needs. Whether you’re a first-time homebuyer or real estate investor, head over to trymorty.com/investing to get started today!

Recently on the podcast we’ve covered the stories of many high level, millionaire investors. However, it’s important to remember that all of these successful individuals started somewhere, and every robust portfolio started with one property.

On today’s show, we’re bringing you a case study episode featuring a new investor! Anthony Chiappetta is an IT entrepreneur based out of California. He recently acquired two turnkey properties, and he’s here to share his journey toward financial freedom!

More About This Show
Anthony runs a successful IT company in Southern California, and he’s always aspired to become an investor. Because of his knowledge of the Rich Dad philosophy, he knew that being an investor and a business owner is the sweet spot.

But living in California, it’s nearly impossible to find high return real estate deals. When a friend told Anthony about our turnkey properties in the Midwest, he decided to do some research and ultimately begin investing.

Currently, Anthony owns two rental properties in the Midwest. His plan is to reach his Freedom Number: 150. He’s excited about the idea of growing his portfolio and building legacy wealth for his family.

On today’s show, Anthony is sharing more of his insight into what it takes to begin investing. We’ll talk about overcoming fears and limiting beliefs, and how to stop self-sabotage. We’ll also discuss financing options for growing a portfolio, and much more! 

On this episode you'll learn:

  • What are the best resources for learning about private financing? 
  • What is an equity partner?
  • What are Anthony's current learning opportunities in his real estate business?
  • Is real estate investing too good to be true?
  • And much more! 

Episode Resources
Morty
Rich Dad Poor Dad by Robert Kiyosaki
Rich Dad's Cashflow Quadrant by Robert Kiyosaki
EP034: The Power of Private Money - Interview with Susan Lassiter-Lyons
Getting the Money by Susan Lassiter-Lyons
The Big Leap by Gay Hendricks
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook

Contact Anthony Chiappetta
Website
Twitter

A case study episode featuring a new investor! Anthony Chiappetta is an IT entrepreneur based out of California. He recently acquired two turnkey properties, and he’s here to share his journey toward financial freedom!