EP125: The Power of Giving Back to Grow Your Business - Interview with Joe Fairless

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Most truly successful people are not fixated only on their own advancement. It is powerful to contribute to something greater than yourself. Not only does it feel good to help others, but it in turn helps your business advance.

On this episode of Investing in Real Estate, I’m interviewing Joe Fairless, the host of The Best Real Estate Investing Advice Ever Podcast! Joe is here to share the details of his newest book series, and the importance of embodying his mantra, “the secret to living is giving.” Don’t miss episode 125!

More About This Show
Joe Fairless is successful in many ways: he is the host of the world’s longest running daily real estate podcast, and controls over $102 million worth of real estate investments. But what is truly extraordinary about Joe is his willingness and desire to help others.

Joe’s newest book series, Best Real Estate Investing Advice Ever, is an incredible project. Joe has decided to donate 100% of the profits to an organization that is close to him, Junior Achievement of Cincinnati.

The purchase of Joe’s book helps educate children in underserved communities about entrepreneurship and finance skills. The book itself is invaluable; it details Joe’s interviews with top real estate experts in all facets of the industry.

Joe explains that all successful entrepreneurs realize the value in contributing to causes that they believe in. Not only is it a good deed to help others, but it’s also a brilliant business move. Donating or volunteering to a cause opens the door to build relationships and gain credibility.

On today’s show, Joe is sharing more about the importance of philanthropy in business. We’ll discuss the details of his book, as well as his real estate syndication business. Joe has so much wisdom to share, you won’t want to miss 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.

 Most truly successful people are not fixated only on their own advancement. It is powerful to contribute to something greater than yourself. Not only does it feel good to help others, but it in turn helps your business advance.

EP124: Best Practices for Managing Real Estate Cash Flow

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

This episode of Investing in Real Estate is sponsored by Thumbtack. Visit thumbtack.com to find help in your area with more than 1,100 services.

As your real estate portfolio grows, it becomes impossible to remember things like when you receive rent payments, when insurance is due, and other details about each individual property. That’s why it’s incredibly important to have a system in place to account for your cash flow.

On this episode of Investing in Real Estate, Natali and I are sharing our system for managing cash flow in our real estate business. This is something we wish we had implemented back when we just had one or two properties. The sooner you have a solid system in place, the better. You don’t want to miss episode 124!

More About This Show
Last year was a year of exponential growth in our real estate business. In fact, our portfolio doubled in one year! We were glad to have executed our goals beautifully, but we missed a few important steps in terms of managing those properties.

We didn’t know when our leases ended, when we collected rent payments, or when we had tax payments due. We were simply relying on bills coming in, and hoped that everything worked out. This is a terrible system! Without keeping track of these expenses and payments, it’s easy for things to spin out of control.

So we decided to put together a five-step system in order to keep track of our cash flow. The first tip is to set calendar notifications for insurance and tax payments. Especially since we moved to a new house, there was a huge margin for error. We could have easily forgotten to change our address, not received a bill, missed a payment, and suffered the consequences. When you have multiple properties, you simply have to have this kind of system in place. Any kind of calendar works, you can use Gmail, your phone, or an app.

The second tip is to set calendar alerts for payment days and lease expirations. This can easily fall through the cracks, unless you're proactive. Hopefully you’re working with a fantastic property management team who pays in a timely manner, and manages the leases, but you as a landlord still need to be cognizant about what is happening in your investment property.

Today on the show, we’re sharing the three other tips for managing the cash flow of your rental properties. We’ll talk about budgeting, spreadsheets, insurance, and more. You’ll also learn about the importance of tracking the details of your properties, and why you should implement a system early in your investing journey.

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. 

 As your real estate portfolio grows, it becomes impossible to remember things like when you receive rent payments, when insurance is due, and other details about each individual property. That’s why it’s incredibly important to have a system in place to account for your cash flow.

On this episode you’ll learn:

  • How is a master spreadsheet helpful?
  • Why do you need to know when your leases end?
  • How can you plan your portfolio growth within your budget?
  • What is the importance of being the authority of this information?
  • And much more!

Episode Resources
Thumbtack

Due App
EP015: The Three Stages of Real Estate Investing
EP100: How to Organize Your Real Estate Investments
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


EP123: Start Being Part of the 3% of Successful People

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

This episode of Investing in Real Estate is brought to you by Blue Apron. Blue Apron’s mission is to make incredible home cooking accessible to everyone. Check out this week’s menu and get your first three meals free and free shipping at blueapron.com/investing.

Everything we do in life begins with being in the right mindset. Real estate is no exception. I talk to so many people who want to begin, but are held back by fear and other limiting beliefs.

On this episode, I’m sharing how to get in the right mindset, and make your goals a reality. I’ll talk about the correlation between goal setting and success. I’ll also discuss recent studies about successful people. Don’t miss this episode of Investing in Real Estate!

More About This Show
I recently read that only 3% of people are considered successful. Another study shows that only 3% of people write down their goals. I have to believe that there is a strong correlation between those two statistics.

Studies show that our brains are constantly growing and creating new neuro connections, and that we can influence this growth by thinking in a certain way. So just by thinking positively, we can change our lives!

I know this to be true. I visualize my goals and meditate on them consistently. And it turns out, that the things I’ve envisioned actually come to fruition. I think it’s so powerful to actually write down your goals.

That’s why I’ve created the Freedom Cheat Sheet! It’s a free PDF that allows you to set a clear goal, and start moving toward it. It will help you determine exactly how many rental properties are appropriate for your unique situation. Financial freedom does not just happen spontaneously; it’s typically the result of setting a clear, attainable goal.

So what are your goals? What is your Freedom Number? I would love to hear your goals, and how you plan to make them happen. Shoot me an email, let’s discuss.

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.

 How to get in the right mindset, and make your goals a reality, the correlation between goal setting and success, and recent studies about successful people.

On this episode you’ll learn:

  • What is the danger of internet forums?
  • Where should you keep the goals you’ve written down?
  • How does the mind operate like a time machine?
  • And much more!

Episode Resources
Blue Apron
Field Notes
Mind, Time, and Power by Anthony Hamilton
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