The Real Estate Way to Wealth and Freedom

Solutions For every problem there are a million and one different solutions, perspectives, and approaches. The solution is in the eye of the beholder. No matter what we do in life, we'll face problems that we have to deal with. I say deal with because not all problems have to be solved. You can take the classic "ignore the problem" approach, let someone else solve it, or a number of different options. In fact, there are more problems than you can solve so you have to ignore some of them, or at least be content with not being able to solve all of them. Problems often times are opportunities. Problems can show us where we can improve, what's working and not working, and teach us how to overcome those challenges. We, as people, tend to be a bit conceded. Admit it. Sometimes we think we are special unlike anyone else. We even more so think our problems are special and unique to us. Now sure, we are all individuals and unique in our own sense. But you might be surprised how similar our problems are. Each and every one of us share at least some of the same problems, from time constrictions, to financial capacity, finding our purpose, etc. In an effort to solve our own problems, we, or at least I, have the tendency to over-complicate things. We think we have to develop some grand plan with tons of moving parts and have everything exactly planned out in order to solve out problem. However, this is often just not the case. The solution to any problem starts with your perspective. Let's take a look at how to approach problems. If you look at the problem as a huge burden that us unsolvable, then guess what? That problem will be huge and unsolvable. “We cannot solve our problems with the same thinking we used when we created them.” – Albert Einstein Frame the Problem When faced with a problem, you can either solve it, not solve it, or ignore it.  Every problem is like a coin, on one side you have the problem, and the other you have solutions. Here are a few different ways you can approach a problem. Search for a simple solution. Problems usually aren't as big as the may seem in the present. Think back to a time when you were faced with a problem. What was it? How did you handle it? What solution did you provide? Looking back, was that problem as big as you thought it was in that moment? Likely not. Most problems can be solved by doing one simple thing. Just one step, and you can be on your way to solving that problem in your way. That might be making that one phone call, paying that one bill, organizing that one LLC, etc. It's often not a huge drawn out endeavor, no matter how daunting it may seem in the moment. Look at the positive. If you are faced with a problem, take it on as a challenge. Try to find a way that you can turn this negative into a positive. Have to evict that tenant? No problem. Now you get to learn how your eviction laws work, and may even build a new relationship with a good real estate attorney. Have a flat tire? No better time to learn to change that flat than now! Get Creative. Like we mentioned, there are a million different solutions for every problem. Dig deep into that tool belt of yours and find the fix. Understand that you have never experienced a problem you couldn't solve. This may sound bold, but I challenge you to think of a problem that you didn't overcome. The fact that you are here today listening to this podcast is proof that you can overcome anything. With that perspective, the problem will pale in comparison to the things you've already accomplished Don't stress.  “If you can solve your problem, then what is the need of worrying? If you cannot solve it, then what is the use of worrying?” – Shantideva Find the Solution Don't look at problems as defeats or roadblocks. Instead look at them as opportunities to solve challenges,

Mark Willis is a Certified Financial Planner™, a #1 Best Selling Author and the owner of Lake Growth Financial Services, a financial firm in Chicago, Illinois.  Over the years, he has helped hundreds of his clients take back control of their financial future and build their businesses with sophisticated, tax-efficient financial solutions.

For most people, we think we know what success looks like. It's different for everyone, but most probably want health, wealth, happiness, fulfillment, etc. However, once we reach this success, it's often not quite what we thought it would be in the beginning. This path to success is often a long one too. You might spend years working towards achieving success how you define it, only to realize that it's not quite what you expected.

Daniel Ameduri is Co-Founder of the Future Money Trends Letter. He is a self-made multi-millionaire, full time fact finder, and a proud father of 3. After warning family and friends in 2007 about the coming market and mortgage collapse, he started his own YouTube channel, VisionVictory, which has received 10 million video views.

By now you are on track to being a successful real estate investor. You've listened to this podcast, read books, talked with people, thought about ideas, and maybe even have bought your first investment property. Whether you're just getting started or you've been at it for a while, you are on your own journey to success. This journey is one of abundance, and with abundance come some decisions you'll need to make. What will you do with your abundance?

Zachary is part of the Smart Real Estate Coach family, located in Newport, Rhode Island. He works alongside his wife Kayla, brother-in-law Nick, and father-in-law Chris. He is a successful real estate investor completing over 100 deals in under 3 years and he continues to buy & sell property without using his own cash, credit, or investor's money. 

Life is a balance of many things - work and rest, learning and applying, patience and action, progressing and relaxing, earning and spending, silence and communication, etc. With so many things it can be hard to know where to focus at times. You might feel that in order to one thing, you have to let other things fall to the wayside. Often times, this is the case. You simply can't do everything at all times. If you are one of those people who think they can, I bet you feel stressed with the constant pressure to do everything. I know, because I've been there. If you have only two or three things you try to balance, that's probably manageable. But as soon as you start adding things, you look like that new bus boy at the restaurant who might as well be wearing skis trying to balance trays full of plates and dishes from that 10 person dinner party. It's just a matter of time before you drop one thing, trying to balance everything else. This dilemma is true for most people these days. People are busy. They have many things going on, from work to side hustles (for some), to family and soccer practices, paying bills, exercise, vacation, holidays, and dare forbid the occasional time to relax and unwind. Everyone has their own struggles. But what if you could simplify your life without having to quit the things you want? That's exactly what we're going to do. Every functioning bar stool has a minimum of 3 legs. 2 legs... well, you're on stilts. The same applies with areas you can focus. For me, I've broken these areas of my life into three "buckets" - health, wealth, and happiness (not necessarily in that order). You might also like the three same buckets, or you can change it up to say, health, happiness, and travel, or wealth, family, and charity. Whatever the three buckets are, identify them and begin to put everything you do in these three buckets. Let's look at three buckets - health, wealth, and happiness. It's hard to order the importance of these buckets sometimes, because you can't have one without the other. So let's start with health. Health seems pretty obvious to us all. Without it, not much else matters. When put like that, it's amazing that health is not at the top of our minds every single day when we wake up. We can even take our health for granted, until we no longer have it. But we don't always prioritize it accordingly. We can be so busy in the day to day hustle of life that we allow our health to diminish over time, until it becomes a problem and everything else comes to a screeching halt. If instead you make health a priority every day by doing little things, you can spend the rest of your time filling other buckets in your life. You don't have to wake up tomorrow, run a fasted marathon, eat bean sprouts and kale for lunch, and half of a smoothie for dinner. For the average person, simply exercising a few times per week, eating moderately healthy, and monitoring your health is enough.  Happiness is one of those underlying things we all want, but never really articulate. We instead talk about things that will make us happy - like family, travel, giving back, etc. Happiness is the root of all these things that we desire. It's different for everyone too. If you're not living a life that makes you happy, then what's the point? Seriously! You only have one life. Why would you live it any other way? I'm not talking about being happy some day, or when you reach a certain milestone, or during your retirement years. I'm talking about being happy today, tomorrow, next week, and for the rest of your life. Anything less is just a waste.  Wealth. Wealth can be taboo topic, but not here on The Real Estate Way to Wealth and Freedom podcast. In fact, wealth can be the lifeblood for you to do good things, live a life you want, allow you to be your true self, and do good in the world. Without it,

In 2015, Paul Thompson wanted out. His corporate office had become a suffocating cell. Paul decided to start buying rental houses, build passive income and break the chains of Corporate America. He was so successful, he secured 20 deals in his first 18 months of investing. Since that time he has acquired more than 2 dozen rentals without bank financing. Now he teaches others how to raise money from regular people that have some funds to invest. In addition to coaching others and still investing himself, Paul hosts a podcast to educate others. Ready Investor One offers tips, hacks, insights and more for listeners interested in creating opportunities for passive income. “Level Up Your Life through real estate investing.” Key Points Having a job is like being dirty - no shame, but don't wallow in it!  Start with something you understand (single family, flips, apartments, land, etc.)  Being a deal maker, not a real estate investor Invest in yourself, then your network, and finally in assets Lie every day - Learn, Invest, and Enrich someone else's life Lightning Questions What was your biggest hurdle getting started in real estate investing, and how did you overcome it? Paul had to first overcome his fear of failure. To overcome that fear, Paul figured our what that exact next step was.  Do you have a personal habit that contributes to your success? Paul is always learning, and putting knowledge into his mind.  Do you have an online resource that you find valuable? Youtube.com What book would you recommend to the listeners and why? Rich Dad Poor Dad by Robert Kiyosaki The Big Leap by William Danko If you were to give advice to your 20 year old self to get started in real estate investing, what would it be? Don't goof around, but do something with the internet and information age.  Resources Visit Audible for a free trail and free audio book download! Learn more about Paul here Find Paul's special offer to you at www.PaulDavidThompson.com/Jacob/ Ready Investor One podcast

There are many times when we find ourselves doing things we don't want to do, but we never stop and ask ourselves why we are doing them. Sure, there are some things that are necessary. You can't let those stack of cups in your kitchen sink grow any taller. You do have to file your taxes. You do have to change the oil in your car from time to time. But these small, yet necessary, things aren't what I'm talking about. I'm talking about the times when you find yourself doing something that's not bringing you any value or joy, yet is in your control. These range from big things in your life to the daily routines and activities. For example, why do you live in the town or city that you do? It might be because that's where your job is. Why do you drive the vehicle you do? Maybe because that's what other people drive who are in your same economic class. Why do you find yourself being dragged to social events, like your friend's brother's college roommate's birthday dinner? That one, I'm not sure why you got pulled into that, but it happens. One thing leads to another, and soon you find yourself living a life that you didn't quite design for yourself. Rather than you designing a life for yourself, other people, other circumstances, and many other factors shaped this life you're living. Do what you want. Life the life you want. It may be difficult to do what you want, if you don't know what that is. That's ok. We're going to explore how to identify those things, and then how to live them. First, understand that anything you put your mind to is possible. You're capable of living the life you want - any life! "If you can dream it, you can do it." - Walt Disney Developing this mindset it key. Don't fall prey to those ever-present limiting beliefs. Reflect. Take some time to reflect on what things make you happy. Some people never even stop to consider what they like and want. Family usually tops the list. Friends, health, wealth, and satisfaction round out usual priorities. Dig deeper than this. Don't think of these in the buzzword like sense. What really brings you joy? It could be the grind of a long project at work, or the win of getting that new client or project, or being able to take every evening and spend with your family. Everyone is different. This is why it's important to reflect on what's important to you. Once you have the right mindset, and have reflected to understand what brings you joy - then take action. Remember, you're capable of living any life you want. You just have to implement it. Don't bound yourself by the norms of society. This will be a work in progress. You  probably can't quit your job, sell your car, and take off on a sail boat circumnavigating the globe tomorrow. But you can take steps every day that will put you closer to living the life you want. I know what you're thinking - "but Jacob, I have bills to pay, and family to raise, a job to go to, etc.". Yes, I know you do. I'm not suggesting you quit paying your electric bill because it doesn't make you happy. Unless of course, sitting in the dark makes you happy - then go right ahead! I want you to know that any life you can dream of, you can have. Don't underestimate what you're are capable of. Don't be tied down by societal norms, limiting beliefs, and the pressure to live life how everyone else does. You are you. You aren't anyone else. So live the live you want. Do what makes you happy. That's the ultimate success.

Veena Jetti, Founding Partner at Enzo Multifamily, has 10+ years of real estate experience including overseeing management of $1B+ in real estate assets. In 2017, Enzo Multifamily acquired $200 million+ in Multifamily assets. Her expertise includes driving corporate growth strategy, asset management, and business development derived from working for multiple Fortune 500 companies. Her background includes acquisition, syndication, and growth strategy for multifamily assets. She is often a panelist and speaker at various global conferences and radio shows. Veena is also a founder and past board member of a national non-profit organization. In 2017, she spent a lot of her time and focus on aiding the victims of Hurricane Harvey through coordinating emergency dispatch and rescue calls. Since Harvey, her ongoing rescue work involves helping companies and non profits understand how they can be better prepared for disaster response. Veena has an undergraduate degree in Finance from the University of Illinois Chicago. Key Points Transitioning from single family to multifamily  No investment is truly passive Reaching the single family "glass ceiling"  Making the mistake of going at it alone Lightning Questions What was your biggest hurdle getting started in real estate investing, and how did you overcome it? Veena didn't know you can find deals outside the MLS. After doing a lot of reading and networking, Veena found strategies to find off-market deals.  Do you have a personal habit that contributes to your success? As a capital raiser, Veena is very personable and is genuinely interested in learning about other people.  Do you have an online resource that you find valuable? Slack.com Multifamily Facebook groups  What book would you recommend to the listeners and why? Rich Dad Poor Dad by Robert Kiyosaki The Millionaire Next Door by William Danko If you were to give advice to your 20 year old self to get started in real estate investing, what would it be? Skip single family investing, and go straight to multifamily. Don't be intimidated, find a partner, and jump in.  Resources Visit Audible for a free trail and free audio book download! Enzo Multifamily

In the world we live in today we have countless options. The opportunities at our fingertips are so many we can't even conceptualize them. We can do, see, explore, invent, and learn almost anything we can imagine. It's truly a great time to be alive and experiencing the world that surrounds us. But with all these options, some never find the themselves actually doing any of these things. What separates those who do, those who make it, those who achieve success and those who... well, don't is action. Conjuring up ideas, writing out business plans, mapping financial goals, planning adventurous vacations, thinking of starting that side hustle, running that race, and talking about that "one day", are all great, but without action they're nothing. While visualizing and planning your future are important, those things will not get you anywhere without taking action. Last Friday Fundamental we discussed habits. I laid out the three step process which was: Visualize Set goals Build habits Taking action falls into the third step of building habits. Taking action is where you implement the things you've planned. It's the hardest step for a lot of people. I'm sure everyone has thought of a "million dollar idea" at some point, only to never act on it. What's stopping you from taking action on your million dollar idea? Solution Take action now. Taking action is actually quite simple. You don't have to set out on day one and move mountains. You just have to take small steps each and every day. If you can just simply put yourself in motion, you start to build momentum eventually becoming unstoppable. Here are a few tips on your to take action now. Break your goals down into annual, monthly, and weekly tasks, then focus on those weekly things you need to do. These are usually very small and actionable things, for example, call 5 property owners, or analyze 3 deals, or run 1 mile, or sign up for that online class, or whatever it is that puts you closer towards your goal. Track your progress. By tracking your progress, you hold yourself accountable for taking small and consistent action. Write it down in your planner, scratch it on a piece of notebook paper, or log it on an online calendar. Only focus on taking that first step. Make that small and achievable. If you can start with small steps, you'll eventually get comfortable with taking bigger and bigger steps towards your goals. Keep your eye on the big picture from time to time. Look up from your weekly and monthly goals to make sure you're on track to achieving your long term goals. If you've steered off course, just take some corrective action and get back on track. Make progress every day, no matter how big or small. Do something every day that puts you closer towards where you want to be tomorrow, next year, and next decade. So many people never even get started taking action towards the things they want. For some, it's the fear of the unknown that stops them. For others, it's not having everything 100% figured our before they start. If these are stopping you, then great! I've got good news for you. No one knows what the future holds. No one knows everything about the journey before they start. No one has everything figured out. You shouldn't expect to yourself. Maybe you're the person who says you don't have the time to take action. Time is the biggest excuse we give ourselves. We act like we're busier than we are, and can't fit another minute of action into our days. I encourage you to audit your time, and see where you are wasting time in your life. No matter how productive and busy you are, I can almost be sure that there is some time in your day where you are doing things that you could instead be taking action towards the things you want.

After 12 years serving in the military and over 20 years running a successful private practice, Ross Stryker realized if he didn’t alter his course he’d be trading hours for dollars forever. It was this belief that led him to launch Smart Asset Opportunities. He’s helped raise almost $100 million in total costs, and owns 40+ single family homes, 14 ATM’s, a coffee farm in Panama, apartment complexes, office parks, storage units, and ownership in a Belizean resort. Ross is living proof that your money is better off of Wall Street, and you can achieve financial freedom. Just four years after his “awakening,” Ross’s investments and passive real estate income streams have surpassed his former transactional income (i.e. hours for dollars). With over $2.5 million out in total commercial project loans, Ross has an eye for tangible assets that have a proven tax advantage, high returns, and allow for stable, continuous cash flow. Ross shares his wealth of real estate knowledge in a weekly blog and in his two books. To be an SAO investor is to understand your “why,” beyond extra zeros in your bank account. For Ross, it’s sharing everything he knows, so that others may find their own financial success and freedom. When he’s not working on real estate deals, you might find him boating with Robert Kiyosaki, better known as Rich Dad Poor Dad. Key Points From dentist to real estate investor Having an exit strategies to  your earned income Getting started with the help of  a mentor group Making the mistake of going at it alone Lightning Questions What was your biggest hurdle getting started in real estate investing, and how did you overcome it? Ross overcame his limiting mindset, by realizing he is capable of investing in real estate Do you have a personal habit that contributes to your success? Ross starts his day with exercise and a plan Do you have an online resource that you find valuable? Zoom.com Podcasts What book would you recommend to the listeners and why? Real Estate Note Investing by Dave Van Horn If you were to give advice to your 20 year old self to get started in real estate investing, what would it be? Invest in yourself first, and then take action. Resources Visit Audible for a free trail and free audio book download! Smart Asset Opportunities Mention The Real Estate Way to Wealth and Freedom podcast for Ross' free book!

Real estate investing is, as you know, not a get-rich quick game. If so, I'm playing it wrong and you should not listen to anything else I ever say. Anything worth having or doing rarely comes easy. There's almost no such case as an overnight success. Sure, you may hear that term used a lot, but in all likelihood that overnight success took years, and only one day was it realized as a success. Success is often not accidental, but the result of being intentional with a purpose. Living intentional is a three legged stool comprised of: Vision Goals Habits Vision is the big picture. This is how you want your life to be, what you want to do, how you want to spend your time, and who you want to spend your time with. Without a vision, you'll live your life like a bottle floating in the ocean, going where the currents takes you. With a vision, you can set some goals that will help you achieve that vision. These are stepping stones to make that vision a reality. From long term goals, to short term and immediate goals, these will help you keep on track to living a life you want. A vision with goals alone won't actually do anything if you never act on them. You must take action towards your goals in order to realize your vision. This action is where the rubber meets the road. It's also where a lot of people stumble and get tripped up. Think of those new years resolutions. You're going to "get in shape" and "eat healthy" so you can look good on that summer vacation you have planned. Great! Then comes February and you find yourself falling into the same routine as you once were, not taking the steps you actually need to get that summer body. So how does one take consistent action day in and day out? Habits. Habits are one of the most powerful tools we can use. Habits, both good and bad, shape who we are and what we do. Our success and failures are a product of our habits. Habits are the building blocks for success. “Every action you take is a vote for the type of person you wish to become. No single instance will transform your beliefs, but as the votes build up, so does the evidence of your new identity.”  ― James Clear When you make the right actions a habit, you are building momentum towards achieving your goals. Developing good habits are the equivalent of putting your actions on autopilot. Let's take investing in real estate as an example. If your vision is to achieve financial freedom by investing in cash flowing real estate, then your goal may be to earn $4,000 per month in passive income. Breaking this goal down, you determine that in order to earn $4,000 per month will require owning 20 rental properties that cash flow $200/month. Now, put a plan in action! You'll have to search for opportunities, analyze deals,  make offers, and manage your investments. This is where forming good habits will help. James Clear outlines 4 steps to building a habit in his latest book, Atomic Habits. They are: Make it obvious. Set out reminders, organize and prepare a work space, and make visual cues for getting the things done you need. It might seem obvious in your mind, but make it explicitly clear how you will do it. Define exactly what you will do, when, and where - "I will analyze 1 deal every morning at 7 a.m. at my computer desk". Make it attractive. If you can couple an attractive action with one you need to do, then you are more likely to do both. After you analyze one deal, then treat yourself to a cup of coffee or take a few minutes to relax and check up on your social media. Make it easy. If your habit isn't easy, then you're less likely to follow through with it every day. Decrease the number of steps between you and the action. Have your computer turned on, calculator opened, websites up, etc. Make it satisfying.

David has strong experiences in real estate investing in both domestic and international projects covering single-family, multi-family and land development. He earned his MBA in finance from Thunderbird School of Global Management, and graduated summa cum laude with a B.A. degree from Arizona State University. David spent over 20 years in high-tech management positions at Dell, AT&T, and Lucent Technologies. At Lucent he managed a $2.5B investment portfolio and raised over $1B in funds for acquisitions. After leaving the corporate world, David started Thompson Investing and has raised significant private equity capital. He helped provide investor funds to Ashcroft Capital (a strategic partner) to purchase over 1450 apartment units in six separate communities worth over $120M. He's also helped fund a $50M self storage and mobile home park fund sponsored by the CoveMark Group. David prides himself on building long-term relationships with investors and partners while providing a great customer experience. David has lived in Austin, Texas for twenty years with his wife and has two daughters. Key Points Investing in small multi's (duplexes, triplexes, fouplexes) requires you to have a W-2 to qualify for loans Raising capital for syndication deals Identifies strong asset classes to invest in by analyzing demographics, economics, and historical performance How you can raise capital Lightning Questions What was your biggest hurdle getting started in real estate investing, and how did you overcome it? David was listening to the negatives of real estate, and let that impact his perception. He eventually listened to the right people and took the plunge. Do you have a personal habit that contributes to your success. David values reading and learning. Do you have an online resource that you find valuable?  BiggerPockets What book would you recommend to the listeners and why? Deep Work by Cal Newport If you were to give advice to your 20 year old self to get started in real estate investing, what would it be? Start networking and look at different types of real estate that can provide income. Figure out what it is that you like. Also, don't be fearful! Contact David Thompson Investing David@thompsoninvesting.com

The life cycle of a real estate investor looks something like this: save up your money, buy an investment property, and repeat. Building a real estate portfolio on your own is certainly possible. You can save your money, put that money towards investment properties, and repeat that process as quickly as you are able to. What many real estate investors quickly realize is they have limited resources, whether that's time, money, experience, or deals. Having limited resources slows your growth. It takes you longer to find that next deal, or save up the capital to invest in that next deal, or find the time in your busy schedule to look for deals to invest in. No matter how much money, time, experience, or deal flow you might have, you'll eventually hit a ceiling if you are active enough. You'll eventually run out of your own capital if you are doing lots of deals. You'll eventually run out of time. You'll eventually run out of deals, and you'll inevitably come across something you don't quite have experience with. This is just the nature of the business. So here you are, as an active real estate investor and you've hit this wall. What are you to do? You could slow down and wait until you personally have the resources to grow, OR you could look to pool together those resources you need. This is called syndication. Syndication is a fancy term for pooling together resources. It's actually quite common, but you may not realize it. When you buy a ticket on an airline to go on vacation, you are participating in a syndication. You and 100 other passengers are pooling together money in the form of air fares to travel to the same destination. Without this syndication, you would have to save up capital to afford the entire costs of travelling alone. Syndication works the same way with real estate investing. You can syndicate not only capital, but experience, time, deals, and almost anything else that will provide value to the goal or project. Syndicating capital, experience, deals, time or any other resource allows you to grow and scale by removing these bottleneck of these resources. You can tap into an almost unlimited supply of resources.  The role of a synidcator is to organize and pool together resources. Real estate syndicators will pool together capital for a deal, manage the project, communicate with the group, and be the general sponsor of the deal. In exchange for being the sponsor, they will receive a piece of the equity typically. When you syndicate resources for a project, you aren't doing so only for your own benefit. You are also providing value for others. The investors in a syndication have the opportunity to be involved in a deal they otherwise wouldn't likely have. For example, you as a real estate investor, have found a great opportunity in a value-add 50 unit apartment community. But, you have limited capital and can't take on the project alone. This is where syndication can be a beneficial strategy. You could raise the capital required for the down payment from investors. In return, the investors will be given an equity stake in the property. If you, as the sponsor, never syndicated this deal, then likely no one would have had the opportunity to invest in this deal alone.  This group benefit is just one of the many advantages of syndication. As a syndicator, you are being a steward of other people's money. This is a huge responsibility, and not one to be taken lightly. You must be diligent in preserving investors' capital, while making sound judgments on how to best maximize returns and mitigate risks. This is a tall order. When you are handling other people's money, there are laws that you must follow. The Securities and Exchange Commission is the governing body that regulates these partnerships and transactions. It's vitally important that you consult with an SEC experienced attorney before syndicating deals.