How to Invest in Probate Real Estate w/Sharon Vornholt
It’s inevitable that we’ll see a market turn in the next few months, so investors should consider moving into a space that is isolated from the general market – probate real estate. How can we find probate real estate opportunities, and what do we need to know to get started in the space? Is there anything we need to avoid doing when contacting the family members of deceased property owners?
On this episode, podcaster, coach and real estate investor, Sharon Vornholt shares how to get started in probates.
As we get closer to a market turn, consider working in a niche where you’ll never run out of leads and the market has no impact: probates. Sharon Vornholt
Watch the Full Episode Here:
3 Things We Learned From Sharon Vornholt
- Look for probates in the local newspaper. This may seem old-fashioned – but it’s for precisely that reason most other investors stay clear. This makes the probate space relatively competition-free.
- To get started in probates, find four pieces of information, the name and address of the deceased, and the name and address of the executor.
- Don’t send a condolence card. While it may seem like the obvious conversation starter when we know a person has died, we may appear opportunistic if we send our condolences in an advertisement.
On this episode, we explained what probate real estate is. We also spoke about why probate offers so many opportunities for investors no matter the state of the market, and discussed what makes the space relatively competition-free.
We also discussed:
- The best time to reach out to the family of a deceased homeowner
- What to include in direct mail to grieving family members
- What makes women excel in the probate niche
Guest Bio-
Sharon Vornholt is a wholesaler, coach and blogger at Louisville Gal’s Real Estate Blog. She is also the host of the Let’s Talk Real Estate Investing Podcast. Sharon is also the creator of the Probate Investing Simplified course.
With over 20 years in the business and a phenomenal track record, Sharon is something of an expert in probate real estate.
To find out more about Sharon, head to
https://louisvillegalsrealestateblog.com/my-story/
https://louisvillegalsrealestateblog.com/podcasts-lets-talk-real-estate-investing/
https://probateinvestingsimplified.com/
Ready to discover the power of a 40 person marketing & sales team…WITHOUT having to hire a single person? To learn more, hear what members are saying, and see if you’re qualified, visit RealEstateInvestor.com.
Our Members Don’t Need Another Covid-19 Response Email, They Need Solutions
Your inbox is already inundated with advice and information on COVID-19 from multiple companies, so you don’t need another one.
Instead, you need solutions.
In no way are we trying to capitalize on what’s happening right now. That’s against our core values in every way. We know this is a scary time, and our thoughts and prayers are with all of our members and their families.
As leaders in our industry, we want to guide you away from panic and into action when it comes to running your business.
Truth is, we’ve heard from multiple members who have asked us if we think they should shut down marketing for this time. And when we respond with an “absolutely not,” we’re not responding out of financial interest for our business. We’re simply sharing what’s right and true.
How are we so sure?
Let’s look at advice from one of the greatest real estate moguls of all time…
“Look at market fluctuations as your friend rather than your enemy… I will tell you how to become rich… Be fearful when others are greedy and greedy when others are fearful.” — Warren Buffet
Of course he’s spot on!
We’ve seen massive transfers of wealth achieved by the boldest real estate investors for centuries now. We even saw it personally back in 2001, 2008, and 2009!
Why does this happen during times of crisis?
Because, while your competitors are panicking, watching the news, sucked into social feeds, and freezing up, your window of opportunity is getting bigger by the day!
As things continue to evolve over the next several weeks and months we invite you to join us.
Start by taking a deep breath, remaining calm and in control of your emotions. Have faith and get ready for action.
Remind yourself who you are. You are a leader! You are strong and confident. Now is the time to be that beacon of light in your community and in our industry!
Assess your market, use the tools and resources available to you, stay informed, and be ready to assist fearful sellers who need help getting out of their homes.
Now is your time to shine! The break you’ve been waiting for is here! And we can’t wait to help you change your life and your business!
While we’re all social distancing in our homes, we’ll be working on hammering out powerful content, interviews, videos, tips, tricks, individual market information, and more on a daily basis. We’re planning weekly webinars with some of the industry’s best and brightest, and so much more!
Check in with us daily to learn different ways you can take advantage of the opportunities that this unique situation will create in our industry.
Here’s how to stay informed:
- Be the first to know by following our RealEstateInvestor.com Facebook Page here.
- Check your Facebook Members Only group.
- Check back often! We’ll be going live, posting daily, and hosting weekly webinars.
- We’re committed to navigating this time with you and we hope that you’ll join us on this journey.
Sit down, buckle up, and get ready for a wild ride, because that massive transfer of wealth is there for the taking…
You just need to grab it.
In closing…
Our thoughts and our prayers for health and safety are with each and every one of you. If we can help you in any way, or if you have any questions you’d like us to address, please don’t hesitate to reach out to our team.
The RealEstateInvestor.com team—including our international sales ninjas—are working remote from their homes. And we’re committed to uninterrupted service for all of our members.
We look forward to sharing more with you soon!
Here’s to all of us being the beacons of light in our industry!
Stay healthy and stay safe,
Gary Boomershine And the entire RealEstateInvestor.com team
PS: Don’t forget to check our Facebook page often!
The Art Of Prioritization w/Jay Papasan
If we want to see the best results in all areas of our lives, we have to start prioritizing our day effectively. Is there a simple way to decide what matters most – and how should we be prioritizing our time to ensure we make the most of every moment? Why is it so important to build the right habits now?
On this episode, bestselling author and Vice President of KellerINK, Jay Papasan shares his steps to prioritize successfully.
When you start your day with your foundational activity – in real estate, that would be lead generation – everything else gets better. Jay Papasan
Watch the Full Episode Here:
3 Things We Learned From Jay Papasan
- Keep it simple. We’re all attracted to sophisticated, intricate systems, but in reality these don’t last long. Find an uncomplicated and effective way to manage time, and stay consistent.
- Prioritize the most important activity, not the easiest one. When people start with the most important task, they often find themselves completing or combining numerous items.
- Be consistent. Creating effective habits is the key to success – even if we’re only making one focused call a day, we’ll be more likely to see consistent long-term results than someone sporadically making 100 calls.
At the start of this episode, we discussed the importance of finding simple, realistic ways to build effective habits and see better results in all areas of life. We then spoke about how to build a successful team and delegate tasks without sacrificing the best outcomes.
We also discussed:
- Why CEOs need to leverage more tasks
- The importance of investing our time in our teams
- Why we need to allow our teams the opportunity to make mistakes
Guest Bio-
Jay Papasan is a bestselling author, an executive at Keller Williams Realty Inc., and a co-owner of KellerINK, Keller Capital, and Papasan Properties Group.
His most recent work with Gary Keller, The One Thing, has sold more than 1.5 million copies, been translated into 35 languages and appeared on more than 500 national bestseller lists including #1 on the The Wall Street Journal’s hardcover business list.
To find out more about Jay, head to:
Theonething.com
https://jaypapasan.com/
Books mentioned on this episode:
Team Building Podcast
https://podcasts.apple.com/us/podcast/team-building-podcast/id1136877230
Ready to discover the power of a 40 person marketing & sales team…WITHOUT having to hire a single person? To learn more, hear what members are saying, and see if you’re qualified, visit RealEstateInvestor.com.
How to Dominate Commercial Real Estate w/Mark Ferguson
Commercial real estate offers investors amazing opportunities. How can we enter commercial real estate and see great results, while discovering the perfect properties for our needs? Is there a set standard for the ‘perfect’ commercial property?
In this episode, author and founder of InvestFourMore, Mark Ferguson shares how to cash in with commercial real estate.
Be sure to hire a broker to help you when you’re new to the commercial real estate space. Mark Ferguson
Watch the Full Episode Here:
3 Things We Learned From Mark Ferguson
- When entering the commercial real estate space, it’s a good idea to have a broker assist us to ensure we get the best deals.
- If our strategy to buy commercial real estate is sending out direct mail, be mindful of who we’re sending it to. Send it directly to the LLC, or property owner.
- Don’t have a set criteria in place for commercial real estate. Instead, focus on the prospective value of each individual property and market it accordingly.
At the start of this episode, we spoke about how commercial real estate differs from residential real estate. After mentioning that the commercial space is more analytical, we discussed the specific tasks commercial real estate investors need to undertake, like finding cap rates for each property.
We also discussed:
- Why introverts thrive in commercial real estate
- How to raise private money for commercial properties
- How starting a blog or vlog can boost your business
Guest Bio-
Mark Ferguson is a licensed real estate investor, house flipper, and founder of InvestFourMore.com, a blog focused on helping investors. Although he was initially hesitant to enter real estate, after graduating from University of Colorado with a degree in Finance, he fell in love with the industry and hasn’t looked back since. Mark is the author of 8 books, including among others Build a Rental Property Empire, Fix and Flip Your Way to Financial Freedom and How to Make it Big as a Real Estate Agent.
For more information on Mark, and to find his books, head to http://investfourmore.com/
Ready to discover the power of a 40 person marketing & sales team…WITHOUT having to hire a single person? To learn more, hear what members are saying, and see if you’re qualified, visit RealEstateInvestor.com.
How to Build a Sustainable Real Estate Business w/Greg Dickerson
Strong business leaders always try to emulate and improve upon the successes of entrepreneurs with proven results. How can we achieve the same outcomes as billionaire business owners? Is a formal higher education required to compete at the top levels of business?
In this episode, serial entrepreneur, coach and real estate developer, Greg Dickerson shares how to build a successful and sustainable real estate business.
Go in believing you have no limits. There’s no reason you can’t achieve the same things as anyone else. Greg Dickerson
Watch the Full Episode Here:
3 Things We Learned From Greg Dickerson
- Develop a strong mindset. There’s no reason we can’t achieve the same phenomenal results others have before us, so we have to go into entrepreneurship believing we’re capable of anything.
- Build on knowledge. This doesn’t need to be in the form of a college education, it’s as simple as reading widely and being in a state of perpetual learning.
- Leverage wherever possible. The most successful business owners are leveraging tasks to other people – if billionaires are seeing results, so will we!
On this episode, we talked through the process of starting a successful business from scratch. After discussing that mindset, knowledge and leverage are key, we mentioned the importance of networking and spoke about why any kind of service business is almost guaranteed to see quick results.
We also discussed:
- How to effectively develop employees as individuals
- How to be a more effective leader
- The importance of hiring a mentor
Guest Bio-
Greg Dickerson is a serial entrepreneur, real estate developer, coach and mentor. Over the past 23 years he has bought, developed and sold over $250 million in real estate, built and renovated hundreds of custom homes and commercial buildings and started 12 different companies from the ground up.
Greg is an expert on the topics of entrepreneurship, real estate development and all aspects of real estate investing. He has spoken at industry conferences and mastermind events around the country, he’s been a guest commentator on Fox Business with Neil Cavuto and The Dave Ramsey Show and is regularly interviewed on the top business and real estate investing podcasts.
To find out more about Greg, head to gregdickerson.com
Books mentioned on this episode:
Rich Dad, Poor Dad by Rober Kiyosaki
One Minute Manager series by Kenneth H. Blanchard
Managing by Harold Geneen
Ready to discover the power of a 40 person marketing & sales team…WITHOUT having to hire a single person? To learn more, hear what members are saying, and see if you’re qualified, visit RealEstateInvestor.com.
How to Make Healthier Lifestyle Changes w/Ben Azadi
As business owners, we strive towards generating wealth – but abundant wealth is meaningless if we don’t also enjoy good health. How can we start making healthier choices without falling into the trap of fad diets? Do we need to constantly be calorie counting? Should we be limiting our meal times?
In this episode, national speaker, podcast host and bestselling author, Ben Azadi shares how to tackle the Keto lifestyle.
If we don’t have our health, where are we? It’s time to make a lifestyle change.Ben Azadi
Watch the Full Episode Here:
3 Things We Learned From Ben Azadi
- Stop dieting and start making lifestyle changes. Keto is more than a diet, it’s a sustained metabolic process.
- Quit counting calories. Calories are really a distraction from the bigger issue of poor health – and many products advertised for having low calories are loaded with harmful ingredients.
- Work towards practicing intermittent fasting – but only after embracing keto lifestyle choices. Take deliberate daily steps to a healthier lifestyle.
On this episode, we shared that using the Keto approach can help us see sustained results, rather than burning out after a week of fad dieting. We also discussed what mealtimes should look like according to the Keto lifestyle, and spoke about the foods we should be avoiding.
We also discussed:
- That being overweight is a symptom, not the problem itself
- How to avoid unhealthy eating while traveling
- That Keto doesn’t need to taste bad- there are healthy substitutes for almost everything
Guest Bio-
Ben Azadi is a three-time bestselling author, national speaker and Keto coach. After struggling with obesity, Ben decided to embrace a Keto lifestyle – and hasn’t looked back. Today, he is passionate about helping people realize their health potential to ensure they live fuller lives. Ben is the host of the Keto Kamp Podcast.
To find out more about Ben, head to:
Ketokamp.com
http://www.benazadi.com/
https://www.youtube.com/channel/UCUh_MOM621MvpW_HLtfkLyQ
https://onlineoffer.lpages.co/new-keto-kickstart-guide/
https://ketokamp.clickfunnels.com/optin32948521
Books mentioned on this episode:
The Intermittent Fasting Cheat Sheet: Discover How This Ancient Practice Can Transform Your Health by Ben Azadi
The Perfect Health Booklet: Simple Steps Proven to Transform Your Health by Ben Azadi
The Power of Sleep: Effective Strategies to Switch Off Your Brain, Stop Hitting Snooze, Wake Up Energized, and Own the Day by Ben Azadi
The Perfect Health Booklet: How to Achieve Perfect Health by Ben Azadi
Ready to discover the power of a 40 person marketing & sales team…WITHOUT having to hire a single person? To learn more, hear what members are saying, and see if you’re qualified, visit RealEstateInvestor.com.
How to Protect Yourself as a Private Lender w/Keith Baker
Private lending is one of the most effective ways to generate wealth – but it does present some risks, so we need to ensure we protect ourselves. Is it ever a good idea to agree to a loan without paperwork? Who should we be lending to, and should we always evaluate our current financial position before making a deal?
On this episode, host of the Private Lender Podcast, Keith Baker shares how we can protect ourselves as private lenders.
In a down market, when money is tight, real estate investors need to know how to do two things: creative deal structuring, and private lending. Gary Boomershine
Watch the Full Episode Here:
3 Things We Learned From Keith Baker
- Don’t loan anything until paperwork has been signed. Paperwork protects us, and should be drawn up by licensed professionals – we should never try doing this ourselves.
- Work with people who have skin in the game. Our borrowers should have at least 10% of their own cash in the deal.
- Avoid taking on second positions. The risk skyrockets with these investments, so wherever possible, stick to first position loans.
On this episode, we discussed the importance of visiting investment properties before agreeing to lend money. We also spoke about why we need to be careful of who we offer loans to, and cautioned against working with friends.
We also discussed:
- That we need to be willing to accept lower percent points for peace of mind
- The importance of insuring our investments and the investment properties themselves
- How to structure a first and second position
Guest Bio-
Keith Baker is the co-founder of Asset REI, LLC, and the host of the Private Lender Podcast. After learning many lessons the hard way throughout his career in construction and real estate, Keith is passionate about teaching his listeners about the benefits of private lending done the right way.
To find out more about Keith and to listen to his podcast, head to www.privatelenderpodcast.com
Ready to discover the power of a 40 person marketing & sales team…WITHOUT having to hire a single person? To learn more, hear what members are saying, and see if you’re qualified, visit RealEstateInvestor.com.
5 EASY WAYS REAL ESTATE INVESTORS CAN MAKE THE 2020 TAX SEASON A LITTLE LESS STRESSFUL
It’s that time of year again, and everyone across the nation is getting prepared to file their taxes for the 2019 fiscal year. Whether you’re a novice or an expert real estate investor, dealing with business taxes can be a real pain. While tax returns aren’t due until April 15, 2020, preparing now can save you a massive headache.
Here are 5 ways real estate Investors Can Prepare for the 2019 Tax Year Today.
1. Find a Well-Rated CPA or Tax Strategist Who Works With Real estate Investors.
If you don’t already have a CPA (Certified Public Accountant) or a Tax Strategist, then now’s the time to start looking since some of the best CPA’s get booked up well in advance. When searching for a good tax advisor, do your homework. Read online reviews and make sure they work with other real estate investors. Ask other real estate investors who they use. A skilled tax advisor can save you a good deal of money. Especially if they fully understand our industry and know how to get you the best deductions.
2. Get Organized with a List of Tax-Related Documents You’ll Need.
Ask your tax advisor for a list of what all they need from you to complete your tax return. Most CPA’s will send you a list upon booking your appointment, or they will tell you what’s needed over the phone. Don’t wait until the last minute to find these documents! Duplicates of missing documents could take weeks to arrive. And if you lost last year’s tax return, the IRS can take six weeks to mail a copy to you.
3. Receipts, Receipts, Receipts…
Work on gathering all of your receipts for business expenses incurred over the past year. You should be collecting these throughout the year so you’re not scrambling last minute to find a backup of your deductible business expenses. If you don’t like keeping paper receipts, that’s okay. Scan them to yourself throughout the year and save them in a folder. Better yet, use accounting software like QuickBooks that has a mobile app where you can upload receipts in real-time when you pay for business expenses. Don’t forget to keep up with your mileage too!
4. Prepare and Finalize Your Income and Expense Reports.
This is a must-have for all CPA’s and Tax Strategists. Utilizing an accounting software like QuickBooks to track your income and expenses throughout the year makes this a breeze. Your reports should include all income and all expenses incurred during the 2019 fiscal year.
5. Prepare Questions for the Meeting With Your CPA or Tax Strategist.
Keep a list of all questions that arise as you’re gathering your tax paperwork. While you have their direct attention, this is a great time to get your questions answered fully. Consider asking them about how you can save more on your taxes. If you’re looking to save for retirement, ask them about your options and how much investing in your retirement could save you. Be sure to be upfront and honest with your CPA and let them know if you can’t afford a tax bill. They can help you schedule an extension if needed or assist in setting up a payment plan with the IRS.
Looking For a Great Business Deduction for the 2020 Tax Year?
Operating systems, marketing expenses, and services are often considered tax-deductible. And guess who offers all of these under one platform? At RealEstateInvestor.com we’re on a mission to REVolutionize the business and REInvent Real Estate Investor’s lives. If you’re looking to reduce stress while still growing and scaling your business, we can help! Check out our website and ask us about our packages that grow with you as your business grows.
*Disclaimer: This article has general information on the subject matter and should not be taken as tax advice or legal advice. Each business and personal tax situations are different. Should you need tax or legal advice, consult with a tax expert, your CPA, an attorney, or other financial advisor.
AJ Osborne on How to Create Passive Income with Self Storage
Don’t touch markets where people are moving out. Look for high occupancy markets.AJ Osborne
Watch the Full Episode Here:
3 Things We Learned From AJ Osborne
- Use self-storage to generate passive income- but be mindful that there are a lot of exaggerations about how easy they are to operate.
- Maintain multiple income streams. Many self storage property owners give up their jobs as soon as they see a profit- but for more sustainable results we should be combining active and passive income streams.
- It’s vital that we set up our self storage businesses in high-occupancy markets.
At the start of this episode, we discussed that it’s important to have passive income generators in place- especially in the event that we’re unable to provide for our families. We then spoke about how to go about starting a self-storage business.
We also discussed:
- Why we need to be careful not to over-leverage in self-storage businesses
- The two steps we have to take to build wealth quickly
- Establishing self-storage businesses in stable markets
Guest Bio-
AJ Osborne is a founding member of Bitterroot Holdings and Keylock Storage. With over 15 years of experience purchasing and building storage facilities across multiple states, AJ is something of an expert. He shares his knowledge through two podcasts- Self Storage Income and Cashflow 2 Freedom. AJ is a fierce advocate for multiple income streams, since surviving Guillain-Barré syndrome.
To find out more about AJ, follow him on Instagram: @ajosborne
You can also listen to his podcasts on www.selfstorageincome.com
And cashflow2freedom.com
Books mentioned on this episode:
The Warren Buffett Way: Investment Strategies of the World’s Greatest Investor by Robert G Hagstrom
Ready to discover the power of a 40 person marketing & sales team…WITHOUT having to hire a single person? To learn more, hear what members are saying, and see if you’re qualified, visit RealEstateInvestor.com.
Making the Most of Your Relationships w/Juan Vargas
Real estate is a people’s business, so to be successful in the industry, investors must make the most of the connections they build with others. Why is it necessary to network with potential lenders – and are there any advantages to teaming up with other investors?
In this episode, Managing Principal at GenWealth Capital Group and host of the Commit to Wealth podcast, Juan Vargas discusses how to make the most of relationships in real estate.
A lot of people get into this business trying to do everything themselves, but the best practice is leveraging other people immediately.Gary Boomershine
Watch the Full Episode Here:
3 Things We Learned From Juan Vargas
- Don’t go it alone. As business leaders we should be leveraging the skills of others, instead of trying to do everything ourselves. We have to have teams in place if we want to see results.
- When raising money, it’s important to network effectively. Don’t be afraid to talk to other industry professionals, join masterminds and meet new individuals. The only way to raise money is by actively engaging with potential lenders.
- Team up with other investors, and be willing to take a smaller percentage of the financial rewards. A smaller percentage over a longer period is a great incentive.
At the start of this episode, we discussed that real estate investing is a great source of passive income, as long as investors had the right teams in place. We then spoke about how to build a bigger presence in the investing space, and emphasized that investors should never ask for money.
We also discussed:
- How being passionate about what we do helps raise money without asking for it
- The importance of having some money of our own to invest with
- How to team up with other investors
Guest Bio-
Juan Vargas is a multifamily investor and syndicator, and the Managing Principal at GenWealth Capital Group. He is also the host of the Commit to Wealth podcast. Juan first entered the investing space when he was looking for a way to spend more time with his sons, and today he is passionate about the opportunities real estate investing offers to those looking for a passive income.
To find out more about Juan, visit
https://www.linkedin.com/in/thejuanvargas
You can also find him on Instagram: @thejuanvargas
And email him on juan@genwealthcapital.com
Other resources mentioned on this episode:
Cashflow Quadrant by Robert Kiyosaki
Good to Great: Why Some Companies Make the Leap…and Others Don’t by James C. Collins
Ready to discover the power of a 40 person marketing & sales team…WITHOUT having to hire a single person? To learn more, hear what members are saying, and see if you’re qualified, visit RealEstateInvestor.com.
