#FreeFlowFriday: The Deal or the Money – which comes first? with Dave Dubeau

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What you’ll learn from today’s episode:
  • Find out the big mindset shift of ‘money always comes first’ 
  • Understand why the money won’t magically find you even if you already have a good deal in hand 
  • Know why you need to have your investors lined up ahead and ready to go anytime 

Resources/Links:

  • Are you looking to attract investors and raise capital for your deals? Get a complimentary copy of Dave Dubeau’s newest book, called ‘The Money Partner Formula’. Get your PDF version at investorattractionbook.com. 
  • Join me for one of my upcoming live one-day virtual workshops. You can register here: https://investorattractionworkshop.com/ 

New real estate entrepreneurs and capital raisers think that when you have good deals, money will magically find you. In my personal experience (and most other people’s as well), that is simply not the case.

I had a good deal waiting to be closed, then I went about dialing for dollars, cold-calling, networking, emailing everyone I knew, but nothing worked. I lost the deal.

I bought into the BS that, “Just find a good deal and the money will find you.”

There has to be a big mindset shift here.

The Money should always come first before the deal.

Have your investors lined up and ready to go, so that once you have a good deal, you already have the money at hand – it makes your life so much easier, and less stressful, plus you’ll be able to close on far more opportunities. 

Join me in this episode as we talk about the importance of going after the money first and finding good deals later without having to chase after money partners. 

Topics Covered: 

00:58 -Why money will not magically find you even if you have a good deal 

01:36 – Let the money come first and good deals pour in afterward 

02:13 – Big mind shift: the money always comes first 

Key Takeaways: 

“My personal experience has been, when it comes to the chicken, or the egg, which comes first: the deal or the money? The money always comes first.” – Dave Dubeau 

“When we’re talking about the money coming first, I don’t necessarily mean you’re going to have a bunch of investors, cutting you checks for 50, 75, 100, grand. What I mean by that is, let’s get our investors lined up ready to go. So that when we got that deal, we have the capital, we’ve got the investors to back it. And then that way, you can go forth and you can look for good deals.” – Dave Dubeau 

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Ep.154 – Carrot for Good Tenants, Stick for Bad…with Zac Killam

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn more about a bureau that protects the landlord’s right and provides recourse for problematic tenants 
  • Find out ways to help you as a landlord reward responsible tenants as well as stop delinquent tenants 
  • Discover about ways you can avoid renting out to irresponsible tenants 

Resources/Links:

Summary: 

Have you ever been through the ringer with a ‘tenant-from-hell’?  Are you frustrated with how biased the system is towards tenants instead of landlords?  Do you ever wish there was a way to give lousy tenants some well-deserved payback?  How about a way to reward good tenants for paying their rent on time and taking care of your property?

If so, you’re going to LOVE this episode!

Retired corporate lawyer turned entrepreneur and Top Forty Under 40 winner, Zac Killam is now CEO of Landlord Credit Bureau (LCB), Canada’s only company that turns rent payments into a credit building exercise. Zac is also a landlord and Co-Founder of a national real estate investment fund and a property management company. LCB empowers landlords to improve their revenue, reward tenants, and reduce risk.

In this episode, Zac shares about what Landlord Credit Bureau can help landlords with, especially when it comes to finding ways to encourage good tenants while preventing and stopping irresponsible and delinquent ones. 

Topics Covered: 

01:07 – What does the Landlord Bureau exist for, and what is its mission 

04:08 – What landlord needs do the bureau fulfill 

05:11 – How does the (PPEDA) Personal Information Protection Electronic Documents Act protect landlords 

07:24 – What real significant impact does Landlord Bureau make 

11:24 – How to get started with Landlord Bureau in registering your tenants  

12:38 – Is there a need for tenant’s permission to put their records in the system 

13:58 – What purpose do these consent causes and notification clauses serve 

14:46 – What happens when tenants don’t opt-in?  

15:45 – How can landlord join the Landlord Credit Bureau, and how much costs are involved  

17:00 – Reward for responsible behavior 

Key Takeaways: 

“The landlord credit bureau, it’s doing just like other credit bureaus, such as Equifax, or TransUnion, we’re bringing accountability and transparency and balance to our industry being the real estate industry.” – Zac Killam 

“What Credit Bureau is doing is we are essentially a central repository of tenant records. So, landlords can register their tenants with us and then report their monthly payment habits. This then forms part of the tenant resume or the tenant record, which is then accessible to future landlords, when they’re looking at an application to potentially rent out their unit to an individual.”  – Zac Killam 

“The Bureaus are governed by the legislation called PPEDA, the Personal Information Protection electronic documents act. They allow landlords, credit grantors to report to bureaus if they’re doing so for the purpose of collecting a debt. For tenants suing for whatever, anybody could sue for anything, but they’re not going to win.” – Zac Killam 

“One important note to touch on is the real major impact of what Lana courier is doing is it’s managing tenant behavior after they move in. So, what I mean by that is, we’re enabling landlords to register a tradeline on each of their tenant’s credit reports. So, what this does is, it impacts their credit scores monthly based on if they choose to pay their rent or not.” – Zac Killam 

“I looked at Landlord Credit Bureau, I found and thought this is brilliant. It’s allowing me to reward my good tenants, the tenants who are just being responsible, and just adhering to the terms of their contract. And it’s enabling me to stop the delinquent tenants who are choosing to be so. It allows me to do that by registering this tradeline on their credit report with Equifax in Canada. Tradelines have an impact upon your credit rating or your credit score.”  – Zac Killam 

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#FreeFlowFriday: Lifetime Worth of an Investor with Dave Dubeau

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Checkout: Raising Capital Without Rejection Full-Day Workshop
(Online): Click Here
What you’ll learn from today’s episode:
  • Understand how much of a financial impact a money partner has for your life not just for the deal they are doing with you, but also for your over-all profitability LONG-TERM 
  • Change your perspective on money partners and become even more excited about getting and partnering with them 
  • Discover how to raise capital with investor partners who enjoy returns on their capital at the same time they are helping to maximize your own profits 

Resources/Links:

  • Are you looking to attract investors and raise capital for your deals? Get a complimentary copy of Dave Dubeau’s newest book, called ‘The Money Partner Formula’. Get your PDF version at investorattractionbook.com.

We’re starting something NEW this week – our very first “FreeFlow Friday” episode of the Property Profits Real Estate Podcast.  I hope you enjoy it, and more importantly, get some actionable ideas. 

One of the biggest ‘ah-ha’ moments I had when I started working with JV and Investor-partners is just how much PROFIT one investor represented to my long-term financial future.

…and I think you may be very surprised to see how much even one investor-partner can mean to you as well. For this #FreeFlowFriday episode, I share the concept of the LTW (lifetime worth) of an investor, why it’s important AND how to calculate it for yourself. 

Once you discover this concept you’ll NEVER look at an investor (or prospective investor) the same way! Listen in and understand your investors’ lifetime worth, change your perspective on getting more money partners, and be even more excited and motivated to get them. 

Topics Covered:

02:44 – Why working with investor partners is worth their weight in gold 

03:36 – Dave giving an idea and calculating how much worth of a lifetime value one investor worth to him 

05:32 – What he found to be an increased lifetime value to him of one happy investors’ referral 

08:25 – Calculating the average profit per deal for you in your market and using your particular strategy 

09:16 – Explaining the eight different profit centers in real estate and how they contribute to profit generation 

11:17 – Rule of thumb for the minimum investment required for one’s deals 

12:38 – Figuring out the lifetime worth of a money partner using single-family home strategy 

17:00 – Keep in mind the lifetime worth of an investor partner and always treat your investors like gold 

17:28 – Dave giving his one powerful tip 

Key Takeaways: 

“It sure blew me away when I figured this out for myself. It will change your perspective on working with investor partners; it’ll make you realize that they’re worth their weight in gold and that you definitely need to treat them like gold.” – Dave Dubeau  

“What I found was if that investor partner was happy with how things went with the investment, he’d become a happy camper. And he might very well invest with me again. Sometimes people would miraculously have another 80 or $100,000 available to invest that they didn’t tell me about the first place, or when they were done that deal they would reinvest with me in the next year.” – Dave Dubeau  

“If I do a reasonable job at getting testimonials and getting referrals, I can probably expect to get one referred investor partner for every two investors that I have on board. In other words, each investor would be worth the equivalent of one and a half investors, because for every two of them, I’d probably get one referral to another investment.” – Dave Dubeau  

“You’re going to keep in mind the lifetime worth of an investor partner, and always treat your investors like gold.”  – Dave Dubeau 

Connect with Dave Dubeau: 

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Ep.153 – CDN Lawyer in the USA for Real Estate with Lauren Cohen

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What you’ll learn in just 17 minutes from today’s episode:
  • Find out the important steps when investing cross border in the US and Canada to put you in a better tax situation
  • Find out which kind of visa you need to apply for to allow you freedom of movement between two countries as you invest, live, work, and play in the US
  • Learn about why you should shop for value instead of price when hiring a cross-border lawyer

Summary: 

Serial entrepreneur Lauren Cohen is an International Lawyer, Realtor, and Cross-Border Expert. Lauren is also a best-selling author and sought-after speaker. Lauren is the only globally-acclaimed legal and real estate business advisor.

After experiencing her husband’s deportation on the return trip from their honeymoon, Lauren was devastated. She felt compelled to find solutions for herself and others, and strongly believed that she could make a difference, so she turned to the crazy world of immigration and international law, serving as a concierge/quarterback in order to help others avoid a similar fate, and is recognized as an expert authority in the field.

In this episode, Lauren shares about finding ways for non-US citizens to invest in the US without the usual costly challenges.

Topics Covered:

03:18 – What you need to keep in mind when having cross border investments

06:06 – What brought Lauren to Florida

09:12 – Her recommendation for a Canadian who wants to have a cross-border investment in the US

11:19 – What is the difference between wanting a visa and needing a visa

13:08 – How to create multiple corporations in the US if you are a Canadian

15:00 – Shop for value instead of price when getting a lawyer

Key Takeaways:

“All of those tax issues, it’s truly got to be a holistic cross border approach that covers everything, not just taxes, or investments or financing, or, where to choose the property’s location. It’s everything all in one. And that’s definitely an important feature.” – Lauren Cohen

“Part of the beauty of having that real estate license as well as a law license is that it gives you that comprehensive credibility as well as the comprehensive knowledge base and the ability to look under the hood of things and help people with that holistic approach.”  – Lauren Cohen

“What generally I would recommend is you definitely would be using a Canadian entity, not a person, not you personally but a Canadian entity to make the investments and then set up some type of a corporation in Canada so that you have a shield of protection between you and the company. And also, that’s going to put you in a much better tax situation.” – Lauren Cohen

“There are visas available for people that want a visa. And then there are reasons available for people that need a visa. What’s the difference? Wanting a visa is because you may want to live or work in the US. Needing a visa is because you do so much business in the US that you need that visa to have ease of transport back and forth and so you can have a social security number, potentially set up a US bank account without challenges.”  – Lauren Cohen

“Our goal is for you, as the investor, to just collect your rent at the end of each month. And eventually, that rent will turn into more and then you can buy another property.”   – Lauren Cohen

“This is what I do because I’m dealing with not just the immigration side of the business and the real estate. It’s very unfortunate because a lot of people are shopping for price versus value. And when you’re a real estate investor, you don’t want to shop for price and value in your properties but always look for value in your team.”   – Lauren Cohen

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Ep.152 – Creating a Real Estate Business Around Your Lifestyle with Jeff Woods

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn how to leverage your portfolio to fund the lifestyle you want
  • Find out about a strategy that is not only synergistic – but also reduces cost for you and your investors at the same time helping other investors
  • Discover how investing in yourself can open the floodgates of good fortune

Resources/Links:

Summary: 

Jeff Woods is an award-winning real estate investor and coach that has 22 plus years of real-world experience and now devotes his time to helping others create financial freedom through real estate.

In this episode, Jeff talks about how, from humble beginnings, he was able to grow his real estate portfolio into what it is today, funding the lifestyle that he wants. He also shares ways in which he finds joint partners that allow him to buy multi-million-dollar property investments.

Topics Covered:

01:12 – How Jeff was first introduced to real estate

03:13 – His first real estate investment property

04:43 – What his current portfolio looks like now

06:03 – 22 year-story of hard work

06:47 – The three components of his real estate business

08:57 – Creating a renovation division

10:08 – The importance of investing in your self

13:00 – How he raises capital

14:03 – How he got his first JV partner

15:49 – How he finds JV partners in unexpected places

Key Takeaways:

“I would much rather be the guy collecting the rent than paying the rent.” – Jeff Woods

“I bought a beat-up bank power of sale, three bedrooms on the main floor, and I fixed up the basement and I put three bedrooms and a bathroom and a kitchen in the lower unit. And I started to rent out the rooms to college and university friends. And so that went extremely well.” – Jeff Woods

“As I grew and evolved and started to learn and started to invest more in my education, I focused more on multifamily properties. And I would use a combination of buy, fix, refinance. and rent strategy. I would do that, coupled with joint venture partnerships, private money, and self-directed RSPs.” – Jeff Woods

“So, we’ve slowly evolved and grown. And then just keep pushing forward. And now today, taking that portfolio, and leveraging it so that it now funds my desired lifestyle.” – Jeff Woods

“We built our own team in-house to service our own properties. We mostly do our own properties, but we will help other investors in the area as well. It’s very synergistic. It just lends to everything we were already doing. So, it made sense to create a renovation division as well.” – Jeff Woods

“When I hired a coach who had already accomplished the things that I wanted to do, and was able to help me work on myself, and set goals and attain them, get rid of some of my self-defeating habits and all of these things. When I started to work more on myself, that’s when my real estate portfolio really took off.” – Jeff Woods

Connect with Jeff Woods:

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Ep.151 – Boring but Effective Profits in Real Estate with Lee Strauss

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn what investment strategy has worked for him amidst every hit and miss that came along
  • Find out different strategies to raise capital
  • Find out about ideas from being an investor-focused realtor – to help in looking for good deals

Summary: 

Lee Strauss lives and breathes all things real estate. He purchased his first rental property in 2003 when he was 21 and has since acquired a personal portfolio, became a realtor, and has founded his own real estate investing company. He has a passion for working with and coaching, novice and experienced investors through the real estate investing world.

In this episode, Lee talks about the investment strategy that has worked effectively for him, weathering every downturn that comes with it.

Topics Covered:

01:00 – How he got his first real estate investment property

05:03 – What he did before real estate

06:57 – Where did he look for additional when he needed it

07:57 – How did he become a full-fledged real estate investor

09:08 – Why did he decide to become a realtor

13:59 – The strategy that worked best for him in the 20 years he is in real estate

Key Takeaways:

“In buying properties, I do refinancing; that seems to be the best way to go. I did get into joint ventures at some point, and I continue to do that.” – Lee Strauss

I have no issues putting in what people would say is insulting offers because if you don’t ask, you don’t get, and the majority time you don’t get that. But you can open the door, and maybe start the conversation.” – Lee Strauss

“It’s like, anything you do is going to help get your goals there, maybe one way that’s better or faster, but consistency and just doing the same thing is the big secret. There’s no magic sauce out there. There’s no manual. You can put in the time. Take the hits and keep going.”  – Lee Strauss

“I tell this to everybody, the most boring, least appealing, non-shiny object chasing strategy is, just buy a house, rent it out and just sit on and wait. Roll with the punches.”  – Lee Strauss

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