EP224: Getting to 17 Properties for Financial Freedom - Interview with Ember Pilati

Investing In Real Estate Podcast-12.png

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

This episode of Investing in Real Estate is sponsored by Bombfell. Bombfell is an easier way for men to get better clothes. Visit bombfell.com/investing to receive $25 off of your first order of personalized clothing!

Reaching financial freedom is not some far-fetched goal. This is a real accomplishment that real people achieve every day by putting a plan into action. That’s why I love sharing the stories of investors who are making their dreams happen.

On this episode of Investing in Real Estate, we’re bringing you the story of Ember Pilati, a new investor who has acquired three properties in just a short period of time. We’ll discuss her route to financial freedom, including her acquisitions process and financing strategy. On today's show, we'll discuss the ins and outs of Ember's journey thus far! 

More About This Show
Ember is a mom of five who lives in Utah. She left behind her dance studio 11 years ago to become the CEO of her family. But now that her youngest child is approaching kindergarten, she started thinking about what she could do with her extra time.

She didn’t necessarily want a job, but she kept her eyes open for opportunities. Ember actually found our podcast when researching ways to pay off her primary mortgage faster. She kept listening to episode after episode, and became convinced that real estate was the avenue to financial freedom she had been looking for.

She calculated her Freedom Number, which is 17. After realizing that properties in Utah produced low ROI, she decided it was not in her best interest to invest close to home. Ember booked a call with our team, and worked with our portfolio manager Larry to obtain her first rental property.

In just a few short months since that initial purchase, Ember and her husband have picked up a total of three rental properties. They own two duplexes, and a single family home. Their goal is to acquire seven properties this year.

On today’s show, Ember is sharing how she and her family have financed their investments. You’ll hear how she involves her children in the process, and her experience using a HELOC. She’ll also flip the script and ask me a few questions about our process! Ember’s story is so inspiring, don’t miss episode 224 of Investing in Real Estate!

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

On this episode you’ll learn:

  • Which has a better tenant turnover rate: a duplex or a single-family home?
  • What are the three stages of real estate investing?
  • How many bedrooms are optimal in a duplex?
  • How do you calculate ROI?
  • How can you use spreadsheets to reach your goals?
  • And much more!

Episode Resources
Bombfell
EP046: How to Repay Your Primary Mortgage Using a Home Equity Line of Credit
How to Pay Off Your Mortgage in 5 Years by Clayton and Natali Morris
EP039: A Simple Way to Understand ROI
EP015: The Three Stages of Real Estate Investing
Profit First by Mike Michalowicz

Tax-Free Wealth by Tom Wheelwright
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

This mom has acquired three properties in just a short period of time. We discuss her route to financial freedom, including her real estate investing process and financing strategy.

EP223: First Time Homebuyer vs. Buying Investment Properties

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

Deciding to purchase your first primary residence is a big step, but so is becoming a real estate investor. If you’ve got the cash and are ready to purchase a home, should it be your own living space, or a rental? On today’s show, Natali and I are sitting down to hash out this question!

This episode was inspired by a listener question. And although we aren’t financial advisors, we thought this was an interesting topic to discuss! On today’s show, you’ll hear us make arguments for both camps, and share the pros and cons of purchasing your primary residence. Don’t miss episode 223 of Investing in Real Estate!

More About This Show
A listener named Brandon recently wrote to us on Facebook with a podcast episode suggestion. He explained that his close friends and family members are reaching the stage in life in which it is appropriate to purchase a primary residence. Brandon wrote, “I’d like to hear your thoughts if it’s a good idea to become a first time home buyer or if you should become an investor instead.”

This is a really interesting question, and if you’ve seen my video on why owning the home you live in is a terrible investment, then you already know why from an investment standpoint, a primary residence is an unproductive use of money. But this issue is not that simple.

There are many reasons why an individual or family might want to own the home they live in. And as you’ve heard us say before, there’s not a one-size-fits-all approach when it comes to personal finances. Natali posits that maybe you don’t have to choose either/or, but instead prioritize which to do first.

On today’s show, we’ll discuss this topic in-depth! We’ll make an argument for both sides, and explain our personal approach. If you’re wondering whether you should purchase a primary residence or a rental property, this episode is for you!

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

On this episode you’ll learn:

  • Can you claim depreciation on your primary residence?
  • Why is banking on appreciation a faulty strategy?
  • What is house hacking?
  • How often does a market crash occur?
  • And much more!

Episode Resources
Why Owning the Home You Live in Is a Terrible Investment
How to Pay Off Your Mortgage in 5 Years by Clayton and Natali Morris
Rich Dad Poor Dad by Robert Kiyosaki
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

 

Deciding to purchase your first primary residence is a big step, but so is becoming a real estate investor. If you’ve got the cash and are ready to purchase a home, should it be your own living space, or a rental?

EP222: Don't Fall in Love with Real Estate, Fall in Love with ROI

Investing In Real Estate Podcast-10.png

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

One of the main pieces of advice I give people is to not fall in love with real estate, and instead focus on return on investment. The reason why I have to constantly repeat this mantra is because it’s really easy to fall into this trap! In fact, it just happened to me this weekend. I almost abandoned my entire real estate philosophy!

On this episode of Investing in Real Estate, I’m sharing my story of almost purchasing a vacation rental in Maine. I’ll discuss how I got an idyllic notion in my head, and how I came back down to reality. This is a tale that all investors need to be reminded of; don’t miss episode 222 of Investing in Real Estate!

More About This Show
This weekend Natali and I celebrated our anniversary in Maine, and I fell in love with the beautiful homes in the harbor towns. I thought about purchasing a huge, expensive home and renting it out as a vacation rental. I imagined taking my family there on the weekends.

I even asked locals about the area, and got in contact with a realtor. But when Natali and I sat down and crunched the numbers, I realized how foolish I was being. A property like that, even if it was consistently rented throughout the year would only produce around 3% ROI.

At that rate, why even invest in real estate? I might as well be a stock market investor for those kinds of returns. Not to mention, with all the money I would use for just a down payment on a rental in Maine, I could scoop up multiple low cost properties in the Midwest.

At the end of the day, this was a stupid idea! I let the idea of sitting by a fire in Maine writing a novel, watching the lobster boats come into the harbor get the best of me. I was violating my core philosophy because the numbers didn’t make sense!

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

 On this episode you’ll learn:

  • What kind of ROI should you shoot for on a real estate investment?
  • How can you set your emotions aside from the numbers?
  • What is a typical vacancy rate for a vacation home?
  • How do you calculate ROI?
  • And much more! 

Episode Resources
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

My story of almost purchasing a vacation rental in Maine. I’ll discuss how I got an idyllic notion in my head, and how I came back down to reality. This is a tale that all investors need to be reminded of...

EP221: From Zero to 26 Properties in One Year - Interview with Jack Hoss and Josh Koth

Investing In Real Estate Podcast-9.png

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

This episode of Investing in Real Estate is sponsored by ZipRecruiter. With ZipRecruiter, you can post your job to 100 plus job sites with just one click. Find out today why ZipRecruiter has been used by businesses of ALL sizes to find the most qualified job candidates with immediate results. Visit ZipRecruiter.com/investing to post your job for free!

One of our first-ever case study episodes highlighted the story of a new real estate investor who set a goal to replace his income from his photography business with passive income. Josh Koth’s story was already one of my favorites, but since that initial interview, he’s made incredible strides in his real estate career.

On this episode of Investing in Real Estate, Josh is back to share how he’s exponentially grown his real estate portfolio in just one year. He also brought along his business partner Jack Hoss! On today’s show, they’re sharing how their partnership works, their acquisition strategy, and so much more! 

More About This Show
When we last checked in with Josh, he was running his photography business and had a corporate IT job. At the time, his cubicle mate, Jack Hoss was watching Josh make his move into the world of passive income. And after watching Josh lose his job, Jack began realizing he wasn’t as secure as he had thought.

Jack and Josh are both in their mid-forties, and they began to think about taking their retirement more seriously. Because Jack had watched Josh begin to change his life through real estate, he knew he wanted to join him on his quest for financial freedom.

The duo now has 26 real estate investments under their belts. They own seven properties through Morris Invest, as well as ten local buy and hold properties. On today’s show, Jack and Josh are sharing their experience as a real estate investing partnership.

You’ll learn about the multiple ways they have financed their real estate deals, and their journey toward financial freedom. We’ll discuss seller financing, and the difference between long-distance and local investments. We’ll talk ROI, profits, and so much more! Don’t miss episode 221 of Investing in Real Estate!

 If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

On this episode you’ll learn:

  • What is the importance of working with a property management team?
  • How do Jack and Josh use their passive income to grow their portfolio?
  • What is the key to making a seller financed deal appealing to the seller?
  • What advice do Jack and Josh have for new investors?
  • What is the importance of attending local real estate meetings?
  • And much more!

Episode Resources
ZipRecruiter
EP035: How to Replace Active Income with Passive Income
REI Rookies Podcast
Clayton on the BiggerPockets 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

On this episode of Investing in Real Estate, Josh is back to share how he’s exponentially grown his real estate portfolio in just one year. He also brought along his business partner Jack Hoss! On today’s show, they’re sharing how their partnership works, their acquisition strategy, and so much more! 

EP220: How to Think Like a Wealthy Investor

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

I’ve been poor, and I’ve been wealthy. You might be surprised to learn that the biggest difference between the two is not about money, but more so about mindset. The good news is, if you’re purposeful you can change your mindset, which will in turn change your financial situation.

On this episode of Investing in Real Estate, Natali and I are discussing wealth consciousness, and how to manifest wealth in your life. We’ll talk about identifying self-sabotaging thoughts, and dismissing fear-based ideas about money. If you’re ready to change the way you think about wealth creation, this episode is for you!

More About This Show
I spend a lot of time talking to people who are interested in building wealth through real estate. And unfortunately, I’m met with a lot of fear-based objections. Many people out there are simply not in the right headspace to begin creating wealth.

If you think you cannot change your financial situation due to personal circumstances, that’s a lie you are telling yourself. I truly believe that we hold the ability to manifest money through our thoughts. And if you’re telling yourself that your situation will never improve, then that’s exactly what will happen.

That’s why it’s important to take inventory of your thoughts, and think about what triggers you. If you are able to identify those thoughts and fears, then you can quiet them. If you really want to create change, you’ll need to squash any beliefs that do not align with your goal. 

On today’s show, we’ll talk about creating a pathway toward financial freedom, and why complaining that something is too expensive is dangerous. You’ll learn about changing your world view by being cognizant of your thoughts, and how to grow your bank account through manifestation. Don’t miss episode 220 of Investing in Real Estate!

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

On this episode you’ll learn:

  • How can you attract other people who have money into your life?
  • What is the importance of meditation in wealth creation?
  • Why is holding onto money fear-based?
  • What is a “poor mindset?”
  • And much more!  

Episode Resources
Free Download: Confronting Your Limiting Beliefs
Awareness by Anthony De Mello
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 

I’ve been poor, and I’ve been wealthy. You might be surprised to learn that the biggest difference between the two is not about money...

EP219: High End Renters Are Paying Less

Investing In Real Estate Podcast-7.png

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

There’s always an influx of news regarding what’s going on in the housing market. However, if you don’t view these stories through the lens of a real estate investor, you might miss out on opportunities or neglect important information.

On today’s show, I’m sharing information from a brand-new Wall Street Journal article. I’ll discuss how housing trends are reversing. I’ll discuss how these changes affect C class neighborhoods, as well as buy and hold real estate investors. Don’t miss episode 219 of Investing in Real Estate!

More About This Show
Shortly after the housing crisis, a high percentage of renters spent more than 30% of their income on housing costs. However, it appears that that trend is reversing. This is good news for renters. This data means that incomes are rising, and also a rent correction is happening.

Particularly in large metropolitan areas like New York City, San Francisco, and Chicago, rental rates are terribly inflated. I see so many apartment buildings continuing to be built in these areas. Now since builders are constructing more and more apartment buildings, supply and demand has forced prices down.

But the thing is—they’re luxury apartments. They have amenities like pools and dog parks and movie theatres. Even if the prices are lower, they still aren’t affordable. There’s still a demand for affordable housing for working class people.

On today’s show, I’ll explain what these changes mean for investors in B and C class neighborhoods. I’ll talk about high quality apartments in places like downtown Indianapolis, and why builders don’t work on lower cost projects. There’s a lot to consider when it comes to this topic, tune into this episode to hear more about housing demands!

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

On this episode you’ll learn:

  • What percentage has the rent burden fell in households?
  • Why is rental affordability a policy challenge?
  • In what neighborhood classifications are apartments being built?
  • And much more! 
  • Episode Resources

Share of Rent-Burdened Household Declines in Possible Reversal of Trend on Wall Street Journal
EP048: What Are A, B, and C Neighborhoods?

EP051: Why C Class Properties Are My Favorite?
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

Shortly after the housing crisis, a high percentage of renters spent more than 30% of their income on housing costs. However, it appears that that trend is reversing.

EP218: Discovering Your Purpose and Building Habits That Help - Interview with Brad Lomenick

Investing In Real Estate Podcast-6.png

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

This episode of Investing in Real Estate is sponsored by Mack Weldon. Visit mackweldon.com and use promo code CLAYTON to receive 20% your order of high quality clothing!

The entire point of this show is to help people create wealth through real estate. For many people, there’s a paradigm shift that must occur in order to take those steps forward. Changing your mindset begins with developing a sense of self-awareness, and releasing limiting beliefs and habits that no longer align with your goals.

On this episode of Investing in Real Estate, I’m interviewing Brad Lomenick, the author of H3 Leadership. Brad is here to share how to find your purpose, the importance of implementing effective habits, and how to create a roadmap to success. Don’t miss episode 218 of Investing in Real Estate!

More About This Show
In his new book, H3 Leadership, Brad shares the leadership lessons he’s learned in his storied career. Brad is a strategic advisor and leadership consultant who has worked alongside leaders, CEOs, and entrepreneurs. He wrote the book as not only a roadmap and reminder for himself, but also to teach others how to reach success.

H3 Leadership is all about being humble, staying hungry, and always hustling. Humility, Brad describes, is a mixture of self-awareness and authenticity. Hunger means staying curious, constantly learning and asking great questions. Hustling is not as self-centered as most people make it out to be, Brad explains. True hustle makes an impact by adding value to others.  

Brad also shares his process for helping people find their calling. He explains that many people hold the misconception that they have one calling. However, most people have many callings. A calling is where your strengths and passions come together.

In order to find that calling, it’s important to reflect on your childhood and uncover the things you’ve always been interested in. The best way to discover this calling is often to ask the people around you.

On today’s show, Brad is sharing more of his secrets to success. We’ll discuss how to create great habits, and the power of humility. We’ll talk about how calling has evolved among generations, and how to live a holistic life. Brad has so many helpful tips; you won’t want to miss his insights on this episode of Investing in Real Estate!

If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

On this episode you’ll learn:

  • How can recalling your childhood help you identify your calling?
  • What are the two ways in which most people find their calling?
  • How does curiosity give you credibility?
  • What is the most important habit you can cultivate in order to reach success?
  • And much more! 

Episode Resources
Mack Weldon
H3 Leadership by Brad Lomenick
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 Brad Lomenick
Website
Facebook
Twitter
LinkedIn

Interview with Brad Lomenick, the author of H3 Leadership. Brad shares how to find your purpose, the importance of implementing effective habits, and how to create a roadmap to success.