Ep.114 – Financially Free by 29 with Kellan James

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What you’ll learn in just 17 minutes from today’s episode:
  • Find out how he got to live in a house with no mortgage expense and earning passive income at the same time 
  • Discover how Kellan was able to leave his day job, take a 3-month tour of 30 states in the US and build a 32-unit portfolio all in 2 and a half years’ time 
  • Find out his strategy for finding really good property deals

Resources/Links

Summary:

Kellan James started by house-hacking, and in just over 2 years, he built a solely-owned, multi-million-dollar portfolio consisting of 10 properties and 32 units.  What’s worth noting is he did it all with no JV partners and was able to reach financial independence at the age of 29 while still working a full-time job!

Kellan has built a large and growing following on his Instagram account and YouTube channel where he documents his life and real estate investing journey on a daily basis – the struggles, successes, and learning experiences along the way.

In this episode, find out how Kellan was able to give up his day job and truly experience financial freedom so quickly. 

Topics Covered: 

01:24 – What is house-hacking and how he got into that 

02:06 – What he did with his first house hacking 

04:08 – What sparked his interest in real estate 

05:54 – Getting into the BRRRR strategy 

07:13 – Mistakes people make the first time they invest in real estate 

11:38 – Sharing his long-term perspective on his investment strategy 

12:51 – Tips for finding good deals 

15:09 – What his portfolio looks like now 

Key Takeaways: 

“In house hacking and in a perfect world when all is said and done the rental income from the other units is enough to pay for your mortgage, property taxes, insurance, and utilities. And you’re able to live for free in that property.” – Kellan James 

“I recommend people for their first deals, the first couple of deals, try and do with your own money and then learn how to take on that risk yourself. And once you’re a competent investor, you can start bringing on joint venture partners, you can treat the deals as if they’re your own.” – Kellan James 

“If you can keep up purchasing momentum and maintain 100% ownership, you have fewer relationships to manage, you keep 100% of the cash flow appreciation, and you just don’t have anyone to answer to if you have a renovation you want to do or if you have a unit that’s vacant.”  – Kellan James 

“It should be intelligent people making good money in real estate and like if you see people who aren’t doing it in an intelligent way, making serious money, that is something that’s just not sustainable.” – Kellan James 

“It’s very important that the property’s cash flow well after refinancing. Because if your goal is to leave your day job and reach that financial independence, then you have to have properties that cash flow well, and you have to have properties where you can get your money back out and continue buying so that you can build that momentum and build a portfolio.” – Kellan James 

“People talk about networking and networking to find deals. I’ll tell you, it’s not about networking with real estate investors because real estate investors want deals too. So, it’s about networking with people completely outside of the real estate world.” – Kellan James 

“Take all the strategies that wholesalers are doing and do it yourself.”  – Kellan James 

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Ep.113 – Ex Financial Planner NOW Real Estate Entrepreneur with Kyle Ford

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What you’ll learn in just 17 minutes from today’s episode:
  • Find out how a shift to real estate from being a financial planner made a night and day difference in Kyle’s income 
  • Learn why real estate is way more secure than any other investment vehicles Kyle has worked with and advised his clients about in the past 
  • Discover the impressive tactic of doing the BRRRR strategy with big buildings.

Resources/Links

Summary: 

Kyle Ford has been investing in real estate for 7years. He was a former financial advisor turned mortgage broker. He’s done everything from pre-construction, single-family rentals, multi-family, flips, vacation rentals. His focus now is on big building BRRRs and private lending.

In this episode, Kyle shares what made him shift to real estate from being a financial planner. He also shares how he was able to get entrenched tenants to move out of the property in just a few months so he could move forward with renovating his building (without having to be sneaky or unethical). 

Topics Covered:

01:21 – Why did he switch from being a financial planner to a real estate investor 

04:26 – Taking a look at his paradigm shift 

05:15 – Real estate versus any other type of investment vehicles 

07:06 – Does he bring on investors with self-directed RRSPs 

09:07 – His clients are more interested in real estate investing than in financial planning 

10:44 – Mistakes people are committing in real estate 

12:20 – Be more concerned about security than a high rate of return 

13:23 – Don’t make a guarantee when raising capital 

15:19 – Taking a closer look at BRRRR strategy with big buildings  

17:53 – Treating tenants with dignity is the best way for the eviction 

Key Takeaways:  

“I started investing in real estate, and the returns on that side versus in the markets were night and day for me.” – Kyle Ford 

“One of the things that became evidently apparent to me was, you cannot get rich, given somebody else your money to manage.” – Kyle Ford 

“I don’t know anybody who becomes independently wealthy off mutual funds, but I know several people who have in real estate.” – Kyle Ford 

“At the end of the day, there’s always a risk of something happening. But I certainly am much more confident with the control that I could provide partners and lenders in the real estate world as opposed to the traditional financial model.”  – Kyle Ford 

I wasn’t making any money as a financial advisor because nobody wanted that help. They wanted help with real estate. And the mortgage broker was a great way to monetize that.” – Kyle Ford 

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Ep.112 – Money in Mobiles with John Fedro

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What you’ll learn in just 17 minutes from today’s episode:
  • Discover about how you can get started in real estate with less capital with a mobile home instead of a regular house 
  • Find out why mobile homes has more advantages than what critics say about it 
  • Learn about the different strategies you can use in going about in getting into individual mobile homes 

Resources/Links

Summary: 

John Fedro has been actively investing in individual mobile homes since 2002. He is now also investing in mobile home parks. Additionally, he’s been assisting other mobile home investors since 2006. 

In this episode, learn about how you can leverage individual mobile homes when you are just starting out in real estate. 

Topics Covered:  

01:55 – What is the benefit in looking at mobile homes as an investment class when you are just starting out in real estate 

03:32 -What is the best way to go with individual mobile home 

05:16 – What strategy he used with the individual mobile home when he started out in real estate 

06:37 – How does he get around with negative criticisms about individual mobile homes 

10:31 – Walking us through how a deal looks like in an individual mobile home and how you get money on it over time 

14:20 – How much are they paying for mobile homes that they buy and how much profit do they get 

17:04 – With the whole COVID thing, how does he see opportunities in individual mobile homes these days 

Key Takeaways:  

“With an individual mobile home, you can have less money, you do need time and you don’t need that much credit. We’re not borrowing money from banks, typically.” – John Fedro 

I love selling homes on payments. Now, it’s usually what I do.” – John Fedro 

“We don’t always fix it up to the nines, but there’s a lot of people that will want to be in these homes. And as investors, we can take advantage of people or we can sell good homes to good people and set people up for success.” – John Fedro 

With the money that they’re putting down, you’re getting all your money back. And then setting up an income stream moving forward.” – John Fedro 

“We’re getting good deals now. But I don’t think we’re going to get better deals. I just don’t think that there’s going to be more opportunities. We have to act quicker. There are still be buyers, especially on payments, but I’m curious to see as well in three, six months, 12 months.” – John Fedro 

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Ep.111 – A Multi-faceted Approach to Real Estate with Jose Jafferji

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What you’ll learn in just 17 minutes from today’s episode:
  • Find out a short-term strategy that brings in cash flow 
  • Learn about a long-term strategy that accounts for profits at the same time builds your net worth overtime 
  • What tactics to employ when finding deals to stay strong for any eventuality during and post coronavirus

Summary: 

Jose Jafferji is a full-time Real Estate Investor and Business Owner who has been actively involved in the industry for over a decade. His approach to the business is diverse with a large buy and hold portfolio, an in-house property management division, a wholesale/flipping arm, and now just recently a land acquisition and development stream to his operation. 

In this episode, Jose will share why he chooses to diversify his business operations and how focusing on income and wealth creation simultaneously has been his key to success. 

Topics Covered: 

01:03 – How is coronavirus quarantine affecting him real estate wise 

01:37 – What he focuses on as his investment strategy 

02:50 – Action plan for his flipping investment in this time of coronavirus 

03:47 – How much buffer is he preparing for post COVID 

05:00 – A backtrack to his journey in real estate 

08:03 – His biggest strength as a real estate investor 

09:24 – How does he finance his deals 

11:42 – Where to find investors to raise capital when you are just starting 

12:41 – What to offer for security or collateral to investors 

13:59 – Projects in the pipeline 

Key Takeaways: 

“I have a multifaceted approach to real estate investing taking into account income, as well as wealth building.” – Jose Jafferji 

“We just have to be extra vigilant and take into account a little bit of buffer when dealing with flipping business in this time of COVID.” – Jose Jafferji 

“In terms of income, my primary strategy is flipping properties, and we also do some wholesaling as well.” – Jose Jafferji 

“In terms of long-term wealth strategy, we always use the BRRRR strategy and we’ve done that with single-family homes to multifamily apartment buildings.” – Jose Jafferji 

“When it comes to finding investors and raising capital, the best way is to start off with friends and family, it’s the safest way.” – Jose Jafferji 

Connect with Jose Jafferji:

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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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