Ep.138 – Hard Money Secrets with Ian Walsh

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn about the pitfalls of having a funding source as a bank 
  • Find out about the advantages of financing options via private lenders over banking institutions 
  • Find out the mistakes to avoid when using private money lenders 

Resources/Links:

Summary: 

Ian Walsh is a partner at Hard Money Bankers PA. As a managing partner, he is always looking to lend money to investors in the Eastern Pennsylvania and Southern New Jersey market. Lending is a passion and being creative to make the loan work for the borrower is always exciting. It does not matter if it is a construction and acquisition loan, a construction loan or a refinance, he always tries to find a way to make it work.  
 
In this episode, Ian shares how hard money lenders or private money lenders, provide fast and flexible lending solutions to real estate investors; approving loans in as fast as 24 hours. 

Topics Covered: 

00:44 – What investment strategy he started with 

02:07 – Hard money lending and different financing options available for real estate investors 

03:28 – How does a private money lender differ from a bank  

06:21 – Hard money lender versus private money lenders 

10:23 – How were they able to raise $40 million dollars to loan out  

12:00 – Mistakes real estate investors commit when they go to private money lenders 

Key Takeaways: 

“Private and hard money is getting to be a lot more flexible, we’re about speed. We’re about analysis, quick analysis on the property first. And that’s closing in 24 hours.” – Ian Walsh 

“Bankers are not investors first by nature, which means they’re underwriting you rather than your deal. They’re not really fit for our space because my space is built on investment properties, I have to underwrite the property first and then borrow and when you do that in reverse you miss the essence of what private lending and hard money lending is and you run into trouble.” – Ian Walsh  

“If you’re calling a private lender, know your numbers. Even if you’re new, which is fine. When they come in, research and understand their values, they understand what a house is truly worth on the back end.” – Ian Walsh 

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Ep.137 – Black Belt Real Estate Investing with Sensei Gilliland

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What you’ll learn in just 17 minutes from today’s episode:
  • Find out how to rake in not only cash flow but build real wealth from your properties 
  • Learn how to weather-proof your real estate business in any economic turn of events 
  • Find out Sensei’s learning experiences in real estate that you can learn from to avoid making the same mistakes in your real estate 

Resources/Links:

Summary: 

Sensei Gilliland of SoCal is the founder of Black Belt Investors. In 1995, he began his investing endeavors. Since that time, Sensei has created cash through wholesale real estate, obtained wealth through rental properties, and continues to teach his methods through educational events helping people to achieve their financial dreams. 

In this episode, Sensei talks about the three arms of his real estate business focusing on education, consulting, and investing. Where learning experiences are concerned, one thing he emphasizes is the need to be ready to adapt to changing markets as this is the key to your business continuity. He shares investment strategies that has him not only getting a steady stream of cash flows from but also truly is providing wealth for him and his investors. 

Topics Covered: 

01:30 – From martial arts to real estate – the birth of Blackbelt Investors 

03:38 – How delegation let him juggle between his many businesses 

05:25 – The three arms of his real estate business 

06:06 – What his primary bread and butter is 

09:40 – What kind of properties does he buy and hold 

10:46 – How does his service ‘Remote Rehab’ work 

12:38 – Learning lessons from his real estate journey 

17:25 – The two ways he’s building his rental portfolio 

Key Takeaways: 

“I figured out this one thing, and that is, real estate controls all businesses.” – Sensei Gilliland 

“When you’re a fix and flipper, you abide by a certain type of criteria, number one is affordability.” – Sensei Gilliland 

“I was all about buy and sell, but there’s a point, you can’t be wealthy buying and selling property.” – Sensei Gilliland 

I’m not your commercial investor, I’m residential, strictly residential. By far, it’s like playing Monopoly. If you guys have ever played, you buy cheap properties, the cheap properties that make dollar sense with a good exit strategy, and those are typically houses.” – Sensei Gilliland 

Most of our investors buy houses because they’re easy stepping stones, and also offer the best exit strategies.” – Sensei Gilliland 

“I don’t invest in areas just for cash flow, I can find that anywhere, I can find cheap properties that cash flow anywhere, for me and for my clients, I want to make sure that we get the most bang for our buck. And so, I seek out undervalued markets that have the potential to grow.” – Sensei Gilliland 

“When you put the ingredients of cash flow, appreciation, tax benefits, that’s the combination needed to build wealth.” – Sensei Gilliland 

“I found that many made the mistake not knowing how to adapt to the market. And for me, that was a learning lesson.” – Sensei Gilliland 

“My business tanked because I wasn’t ready to adapt to changing markets. You don’t need to be a master in one niche. I say master one niche and when you’ve mastered it, add on another master’s degree in that real estate niche, because you don’t want to be a jack of all trades and a master of none.” – Sensei Gilliland 

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Ep.136 – Landlord by Design with Michael Currie

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What you’ll learn in just 17 minutes from today’s episode:
  • Learn how to become a great landlord
  • Find out about the mistakes most landlords make in trying to prevent tenant conflicts from arising
  • Find out how to screen tenants better to avoid serious issues with them

Summary: 

Michael Currie is a landlord and property manager from Canada. He had been flipping houses from 2001 until 2009 when he, his wife, and a close friend formed The Fort Nova Group Limited. Since 2009, they have been using a buy/hold investing strategy, and with the exception of a couple of income property flips, have been building an investment portfolio. Michael has extensive experience working with contractors, tradespeople, project managers, property managers, and tenants to make renovations as non-disruptive as possible.  
 
In this episode, Michael shares how he went from flipping properties to finally becoming a landlord. As soon as Michael got involved in the buy/hold investment strategy, he saw the need for property management education. He started a mission to educate and assist independent landlords all over the world with his blog. In addition to Michael’s hands-on property-management experience, he created a manual that shows the How-to in repairs and maintenance. As well blogging about tenant management, sharing his experiences about his tenants knowing other landlords may resonate.

Topics Covered: 

01:52 – Getting better at being a landlord and all the issues surrounding it 

06:34 – Biggest mistakes that are often seen in property management and tenant management 

09:21 – How to handle tenant-from-hell scenarios 

11:12 – How to avoid issues with tenants 

12:53 – How to screen better your tenants 

13:31 – Why you need to look up your tenants’ credit report 

Key Takeaways: 

“No one really talked about what it actually means to manage a property and negotiate with tenants and negotiate with contractors and just a lifelong customer experience.” – Michael Currie 

“Where I see people get into trouble is, they tend to either to buy the book, and they’re afraid of either breaking the rules, or they’re afraid of negotiating out or having what they may consider confrontation and not realizing that it’s a customer service business. Without the tenants, we have no revenue.” – Michael Currie 

“I think that you really need to not take it personally and look at the best interest of your company and the tenant, and how it’s going to work out best for both parties and make it a win-win.” – Michael Currie 

“To avoid tenant issues, clearly you need to have tenant screening, any place tenants by a landlord that people are in trouble with, it generally can be traced back to the screening because the first thing I ask is,’ send me over the original application when you approve this tenant.” Michael Currie 

“For reference checks, we always do a credit check. That’ll tell you if they might have omitted a place that they were evicted from or had a bad experience, that’ll show up on a credit report.”  Michael Currie 

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Ep.135 – Rent to Own in Real Life with Kevin McHardy

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What you’ll learn in just 17 minutes from today’s episode:
  • Find out the investment strategy that has given Kevin steady cash flow and an appreciation advantage with the property 
  • Learn about the benefits of focusing on rent-to-own properties 
  • Find out the pitfalls you should avoid in dealing with a rent-to-own investment strategy

Resources/Links:

Summary: 

For the past 10 years, Kevin McHardy has built a steady love for real estate through focusing completely on relationships. Whether it’s helping families proudly move into their first Rent-to-Own home, or reporting significant returns to their growing team of investors, or learning from like-minded leaders in the industry, it’s the people that make his work matter. 

In this episode, Kevin shares about his rent-to-own investment strategy and how he structures deals around them. Creating benefits for both the investor and the tenant-buyer at the same time, and taking the worries off of the property management, as it is taken care of by the tenant. 

Topics Covered: 

00:57 – How he transitioned from an airline pilot to real estate investing 

01:42 – What is a rent-to-own investment strategy and how does he structure deals of this type 

04:33 – Giving an idea of what a wholesale version of rent-to-own is 

07:15 – Benefits for tenant-buyers for doing ren-to-own 

09:48 – Advantages to rental operators of rent-to-own properties 

10:47 – Price points consideration of properties in the area he is focused on and its typical terms 

11:52 – What rental cash flow difference you get doing the rent-to-own versus having the house as a rental property 

13:24 – What are the dangers of the rent-to-own strategy 

16:56 – The advantage of getting outside credit coaches 

Key takeaways: 

“The benefits for tenant-buyers of our program is, they’re picking the house and we’re buying it right for them, they’ll know their set purchase price. That’s a great scenario and the rents won’t increase.” – Kevin McHardy 

 “As a rental operator the benefits for us would be obviously great, great, great returns of monthly cash flow is a big one and also the sale price so there’s a good amount of built-in appreciation so we know the sale price at the end” – Kevin McHardy 

“We’ve got a third-party company work outside of our mortgage. Depending on their credit score (tenant-buyer), we’ll set them up and we’ll build that cost into the programs to help them out to really make sure that we can achieve the homeownership at the end.” – Kevin McHardy 

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Meet Your Host

Dave Dubeau is a professional real estate investor, a best selling author and a highly sought after trainer and consultant.

Dave understands that over 80% of Real Estate Entrepreneurs get stuck with 3 or less properties in their portfolio. They want to grow it more, but they don’t know how to attract investors and raise capital, which is why he has decided make helping frustrated, Capital-strapped Real Estate Entrepreneurs his life’s work.

Dave is also the founder of the first and only done-for-you investor attraction marketing service for Real Estate Entrepreneurs in the world . . . The Money Partner Formula™

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