Episodios

  • The Secret To Achieving Financial Freedom Through Real Estate Investing and Software Development

    The Secret To Achieving Financial Freedom Through Real Estate Investing and Software Development
    Oct 13 2022
    Bryce Matheson is a house flipper and a serial entrepreneur. He has done some crazy transactions! He bought an abandoned house and a shed from a man who was in jail for grand theft (only to find out that someone was living in the shed without the owner's knowledge)! He now is getting more into the private lending space! In college he studied IT and became very knowledgeable in that subject! He has put that education to good use in the business field! He has created 3 software programs for real estate investors and lenders to utilize.

    On this episode of The Freedom Chasers Podcast we talk to Bryce Matheson about flipping houses, investing in real estate, lending, and building software. Join us as we talk about Bryce’s journey to financial freedom!


    How to reach Bryce Matheson:

    Instagram:https://www.instagram.com/brycematheson/

    Youtube: https://www.youtube.com/c/BryceMatheson

    Website: https://brycejmatheson.com/web-hosting-course/


    Quotes:

    “That's kind of where I tasted the blood in the water and that's where it just started.”

    “There were too many of those little things that added up.”

    “All those little things added up and ultimately that’s, I think that’s the problem and it came back to bite us.”

    “The banks have the biggest buildings for a reason.” - Matt

    “All of these different methods are tools in your toolbelt that you can use to make money.

    “Mostly just because it's kind of like the headache tax.”

    “I'm not going to just say no to free money.”

    “All too often people are afraid of taxes.”

    “There's very little downside but there's all the upside.”

    “I have to say “no” more than I say “yes” ”.


    Concepts:

    Bryce bought a broken down house from a guy who was in jail for grand theft! He had to communicate with him by letters!

    Bryce bought his house a couple years ago and he met his wife because of real estate investing!

    Bryce used to study IT in college but then switched to real estate when he decided to buy a house!

    Sometimes people over think about the house they’re looking at and can think themselves out of the idea of buying the house.

    Bryce has a good strategy. When he gets money, he pays things he has off and invests in real estate.

    To not flip and sell a property, Bryce said that the interest rates would have to be super high!

    Bryce has started to get into lending! Right now Bryce is only lending to people locally.

    Bryce has a lot of opportunities but he’s found that most of the time he has to say no. He wants to say no more than yes so that he’s not so swamped with ideas!


    Time Stamps:

    0:00- Introduction
    0:31- Craziest Real Estate story or Transaction
    8:56- What got you into Real Estate?
    11:53- What was the transition into Real Estate?
    13:28- What was the next step?
    16:14- What do you like about flipping more?
    18:05- What did you do wrong the first time?
    19:57- What did you do with your cash?
    22:31- What would it take to hold a property and not flip it?
    25:52- What are the headaches of being a lender?
    27:10- Do you lend locally?
    28:45- What is your tax strategy?
    30:57- What is rentastic?
    33:01- What is the work process?
    26:46- What do you recommend for getting into the business of coding?
    41:44- What does the next 6-12 months look like for you?
    43:27- What is your money tracking system?
    46:12- Note servicing company?
    47:10- Non performing notes?
    48:22- What is the best way to reach out to you?
    49:10- ENDING


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    50 m
  • Lower Costs And Increase Revenue With The BRRRR Strategy Through Vertical Integration

    Lower Costs And Increase Revenue With The BRRRR Strategy Through Vertical Integration
    Oct 12 2022
    Joshua Wilson is a force of nature in business. He has had the entrepreneurial spirit since he was young and has used that energy to not only create a profitable business using the BRRRR method. Josh has had a ton of success scaling this business using vertical integration strategies and finding ways to add more cash flow by adding additional ancillary businesses.

    Don't Forget To Reach Out To Joshua Wilson

    Brrrrbootcamp.com

    Quotes

    Imagine every time you buy a house you are creating a new customer for a variety of different businesses. Landscape, pest control, rehab, property management, real estate brokerage, insurance brokerage. Trying to buy all the income streams that come with a rental property.

    Every property we buy provides income to multiple entities.

    I can then be the visionary so I can focus on creating ideas.

    I remember being on the beach and I was taking vendor calls, property management calls and other things. I am sitting at the beach with my family but I am not present at the beach where I am working so I needed to find some balance.

    I want to have something in place that runs 24/7 so I don’t have to be reactive 24/7..

    If you don’t have a good leader nobody knows where they are going and everybody has their heads in the sand. Eventually you are going to turnover. So it is important to put quality people in the right seats.

    There is no magic formula for hiring people. You just know there is a gut instinct you have to rely on.

    Grow and scale like a true entrepreneur.

    Buy real estate and build a foundation and then buy ancillary businesses.

    Concepts

    Didn’t graduate college. Didn’t get good grades, he just always had the entrepreneur spirit. When he was a kid he was on a cruise with his grandparents. They gave him the card they give you so you can buy things on the ship. So he let his friends use his card but he would charge them $1-$2 more. At the end of the cruise he had a $700 bill on the card and his grandparents were pissed. He pulled out his wad of cash and he ended up making over $100 in profit. He hasn’t looked back since then.


    We add our own little touch to the BRRR method which is called vertical integration. Lots of people are doing this process and they are not vertically integrating.

    The first thing they did was start a property management company out of necessity. I would create a company it would start thriving and than as an entrepreneur I would get bored so I would look into what is next

    I look at the P&L to see where we are spending the most money and then identify where we are allocating the most costs. Than you can decide which opportunities are available

    When we are paying a vendor over 150k a year I feel we have enough there to ramp up that entity.

    When you remove yourself from a business before you can pass it off. You need somebody to fill the integrator role that can implement the vision.

    Goal is to hit 50 million in the next 5 years.

    It is easier to acquire established businesses than it is to start a business.

    Looking back up to 3 years for comps due to market volatility. If you are buying properties based on the last 6 months you are gonna get hurt.


    Time Stamps

    0:00 Introduction
    0:30 Crazy Story
    2:10 Vertical integration
    5 Why vertically integrate rather than to get more deals.
    7 How to use P&L to identify where to vertically integrate.
    8:30 How do you identify when it is time to get out of a new venture
    10:30 how do you know when a business has arrived.
    12:55 Walk us through step by step how you find these people etc.
    18 Operator vs overseas COO for business.
    18:40 Interview process
    20 Covid story
    22:45 Easier to buy established businesses than new ones
    24 Entrepreneur story with cruise ship story.
    27:30 Why BRRR ?
    29:50 Now that rate environment is different how are you still buying 5 million dollars in assets
    33:30 He is going after data. He is not an economist.
    34:35 Does the bootcamp teach vertical integration


    👍 Keep up with The Freedom Chasers:

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    37 m
  • Former NBA Coach Shows You How To Build A $30,000/Month Real Estate Portfolio In Just 15 Months!

    Former NBA Coach Shows You How To Build A $30,000/Month Real Estate Portfolio In Just 15 Months!
    Oct 11 2022
    Julian Mills is the CEO of Mills and Co. Real Estate based in Ohio. Working in the NBA as a video intern years before, he enjoyed the finer things in life–from eating meals prepared by personal chefs to practising with Steph Curry. Never in his life had he thought that he’ll be working in real estate.In this episode, Julian shares how while working at the Bank of America in 2020, he made a vow to figure out something to do with his life. And this is when he dived head-on into real estate. Now a millionaire, he shares in this interview how he was able to possess 29 properties within 15 months.His number one takeaway in his experience? Surrounding yourself with people who inspire you to be at your best.Don’t Forget To Reach Out To Julian Mills:Instagram: https://www.instagram.com/iamjulianmills/?hl=enLinktree: https://linktr.ee/Millscorealestate Facebook: Julian Scott MillsTwitter: @iamjulianmills Website: https://www.millscorealestate.com/ Email: management@millscorealestate.com Quotes - “Sometimes you think you're an athlete um no honestly because the because it's crazy like when you're in that life like I talked to my friends it's surreal and you think that's normal when you're embedded in it.”“I mean enjoyed my life but when that ended, I knew it was going to end. I had to figure something out. And so I wasn't smart with that money. I'll be honest I wasn't smart; I just enjoyed my life.” “When I had to go work that daily bank job, doing something that I didn't want to do, it was a wake-up call. And I was like, ‘Yo I gotta figure something out. [What’s] happening my life is not going to be like this.” “I know eventually that light at the end of tunnel is going to get brighter and brighter to where I'm not doing this anymore, and now, I'm free .”“I've heard that the greatest source of millionaire makers is in real estate, but thegreatest source of billionaire makers is in business.”“A lot of people neglect their network. “Network is your net worth,” man. There's no truer saying I've ever heard.”“There's been times where I haven't been like–it hasn't all went perfect. But I've always learned and just tried to be my true authentic self. “Whatever happens, happens. Whatever comes my way comes, my way. Whatever doesn't, wasn't meant to be.”“I truly am blessed, like I can't say it enough, by my network of people because if it wasn't for them, I wouldn't be in the position.”“It's funny how when you start making more money, you spend less money because you don't need those things.”“It's about the people that are year-round. And I'm very selective with my friends and who I give my time and energy to because of how much that really affects you.” Concepts Unfortunate things can happen suddenly, but how you rise up from them is what really matters.When you step down from a nice job, it’s up to you how you get back up and spend your valuable time.Don’t take your work for granted because when you lose it, one way or another, you might not find anything quite like it.Apply the habits, work ethics, and other learnings you’ve gathered through the years to any venture you enter in.No matter how good you are at something, constant practice is important so that you can still improve with your craft.Take inspiration from other people’s admirable work ethics and apply these learnings in your own field.Use your networks, connections, and any resources available to expedite your business success.Your network is your net worth.As you develop crucial work ethics in your life, don’t forget to stay authentic and genuine when faced with difficulties and success.Even if you have the means, you still need to be careful where you put your money and what you spend. Be creative when trying to make money from your business. Take a chance and figure out what to do next.Time Stamps 0:00 Introduction0:23 Tenants calling at 2 AM4:09 Investing in Springfield, Ohio5:20 Working in the NBA11:30 Life among NBA players13:16 Transitioning to real estate16:00 Getting a job at Bank of America17:10 Applying his work ethics to real estate19:43 Rebounding for Steph Curry21:19 Inspired by other's work ethics22:00 Steph Curry’s daily routine25:50 Networking at various levels27:30 Looking for an opportunity29:00 Memo and Junior Money30:52 The cat lady33:52 Buying properties you never thought you’d buy34:50 What brought you back to Ohio?36:38 15 months, 29 properties40:00 Deals after deals after deals44:00 Selling and buying properties46:15 What’s next for you?48:50 Thanks to you, coach!51:30 Contact Julian MillsSources Mentioned 👍 Keep up with The Freedom Chasers:Subscribe to our YouTube: https://www.youtube.com/channel/UC4_Wkdt-M2rKLmfucReIneg Follow us on Instagram: https://www.instagram.com/podcast_tfc Follow us on Twitter: https://www.twitter.com/tfcp_podcast Join Facebook Group: www.facebook.com/groups/freedomchaserspodcast
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    54 m
  • How To Bounce Back From Bankruptcy With Real Estate

    How To Bounce Back From Bankruptcy With Real Estate
    Oct 6 2022
    Darrin Carey first dipped his toes into the real estate business during college when he was only 18 to 19 years old. After three years in the military, he decided that he wanted to bring in income initially through land-lording. But after finding motivation in other successful people in the field, he finally dived head-first into real estate investment. Now president of Dayton Capital Partners, LLC, Darrin has been in the real estate industry for over 17 years. In the interview, he shares his humble beginnings and experiences–from losing several properties to getting over a bankruptcy declaration.In today’s episode, he reveals his secret to success and his proven mindset–learning from losing.Don’t Forget To Reach Out To Darrin Carey:📱(937) 458-3303Email: Darrin@DaytonCapitalPartners.comLinkedin: https://www.linkedin.com/in/darrincarey/Website: http://daytoncapitalpartners.com/Quotes “I bought 3-4 properties. [...] And I managed to lose money on every single one of them.”“I looked in the mirror and asked, “What am I doing wrong?”“One thing I learned in the first three houses is when the seller tells you that it’s a very low maintenance house in the first 20 years he’s owned it, that means the house needs everything.”“I started learning a lot from other people. I learned how clueless I was when I first started. Because you know, two books from Barnes and Noble wasn’t much of an education to start with.” “In the military, when you do something major, you what is called ‘lessons learned.’ So I start taking notes of the things I learned during my start in real estate. I look back at the deals and say, ‘What went right? What went wrong? What could I’ve done better? What did I learn?’ so that I can apply and do that better during the next deal. “These guys did it. And they’re [...] nothing special. So if they could do it, I can do this.” “You committed that you were going to figure this out. And none of those challenges deviated your mindset away from your [path].” “So for me it was the question of “Why isn’t it working for me? What am I doing wrong? And as I figure that out, started to do more things right, things got better.” “It’s a matter of that learning process. So I had to go through 15 to 30 properties [to] learn the ropes, learn how to do it. And then it will start working. So now it works really well.” “[Growing up] You generally did everything you could yourself. You figure out how to make things work. So that was just natural for me going into it. And then going into the military just reinforces the same mindset. ‘Here’s what we’re going to do, figure out a path. And if this one doesn’t work, just choose a different one.’ ” “[Bankcruptcy] Forced me into being creative. It also forced me to look at other opportunities.” “I would do it all over again. If I never started, I would’ve never ended up where I am today.” “If we help everybody, then everybody does better. I can’t do it for them, but I can help them along the path.” Concepts - There’s always a risk of losing money in any business you get into. But you can turn your losses into learning opportunities.By learning through your losses, you begin to recognize ways to do things differently.When you feel like you’re failing, reflect on the things you’ve done and find out how you can do better.Having enough knowledge or seeking advice from someone who knows the in and out of the business are key things you should consider before making a decision.While studying and learning on your own can add to your progress, gaining knowledge from experienced people in your field might give you the answers you need.Incorporating a “lessons learned” habit in your business or virtually anything you want to do better can help you improve the way you think, identify problems, and act in the future. Take inspiration from those who’ve found success in the same business. Motivate yourself by believing in yourself. Commit and trust yourself. Don’t allow challenges to take you away from the path you created. Trust the learning process. Don’t treat failure as the end of your journey. It’s merely a point where you can discover the right ways to overcome your challenges. If a path does not work no matter what you try, choose a different one but keep your eyes on your end goal. Try not to be too complacent with your achievements as it is better to anticipate challenges that to face them unprepared. Allow yourself some time to recover from a major event in your life. This way, you can look back, reflect, and learn from your experiences and decisions leading up to the moment. Sharing your learnings with other people and helping them be successful is just as important as making money from your business. Get to know your clients well. Because if a good opportunity arises that will benefit them as well, you’ll be able to recognize who’ll be the best for the ...
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    50 m
  • Jeff Pieta’s Insights on Innovation, Human Connection, and Opportunities

    Jeff Pieta’s Insights on Innovation, Human Connection, and Opportunities
    Oct 4 2022
    Jeff Pieta is the CEO of AIS Inc, an IT tech firm founded in 2002. For the majority of his life, he only knew about computers. In the interview, Jeff talks about how, as a college dropout, he was able to start his own company to survive the early 2000s recession and how he got into the real estate investment industry.Today in the episode, he shares his incredible journey in real estate and his current ventures. From figuring out how to properly and safely use a nail gun to some selling mishaps, this tech-pro has plenty of astonishing real estate stories and insights about the human psyche to share. Don’t Forget To Reach Out To Jeff Pieta:Linkedin: https://www.linkedin.com/in/jeffpieta/Quotes “It's fun every now and then to help people out. And, I like being able to find better solutions to problems. I think a lot of times people just have fixed ideas, and they don't actually consider like is what I'm doing is it necessary.”“And don't let the absence of perfection impede progress because so many people either get overwhelmed because they can't do it the way that they want to do it or they don't know how to do it to completion. And so they just freeze up or they don't start at all or they lose motivation.”“What the timing of innovation is recognizing when something new exists or creating the adoption of that which enabled what previously couldn't be enabled.”“I would describe it [Shiftgig] as growing a business organically out of cash flow. It's like running down the street. You're limited by your own oxygen. If you trip and fall, get back up. No big deal.”“Failure is often just a limit of what someone was willing or able to do wasn't enough to succeed, and failure is just a measure of that limit.”“People tend to do what hurts the least and do what's painful less painful when presented with two options.”“A problem well defined is a problem nearly solved.” Benjamin Franklin“Strategy is the art of creating luck.” “If you understand something, you can explain it simply. If you’re good at something, then you make it look easy.”ConceptsBe diligent when transacting in real estate since a lot of things can happen under your nose.If you are able and willing, helping other people with their problems opens an opportunity to learn new things.Some people might do things in a fixed way because it’s all they ever knew. So it’s important to ask questions and see the problem in a different light to find new and better solutions.Seek help from mentors who have a ton of experience to share, and pay the learnings forward.You should not be afraid of innovation and change. Adapting to change is a part of growing your business.Recognize new trends for their value and use your learnings to your advantage.Think about what you want to be, what you want to do, and what you want to achieve. Having a mentor to guide you and show yourself through a different lens will help you see yourself for your potential.Be patient. Do not be greedy in your business. Understand how you can maximize your assets. Time Stamps 0:00 Introduction0:28 Nail gun and selling mishaps2:17 Learning to fix a basement3:50 Helping someone with their water heater4:46 The ham story5:13 Heterodoxic quality6:51 Founding a company at 189:00 Unconventional parents and support10:19 Finding the right mentors11:40 Offering professional services13:00 Why? Why Uber? Why?15:34 Uber but for staffing17:14 Mentors’ advice19:00 The evolution of real estate–”uberification” or flexibility catered for customers22:17 People in the manufacturing industry are good mentors25:45 The importance of recognizing yourself26:52 Collecting observation notes for a book30:12 Leadership and connecting with people33:40 Recognizing people as you get older35:43 Catering to people’s happiness39:15 New paths and old paths42:00 Strategy is the art of creating luck, more about the book44:00 Experts make it look easy45:00 CIA profiler47:00 Wild human psychology and human nature51:26 Running a marathon53:28 Feelings make us comfortable 54:00 Brain hack - imprinting on the things you want56:13 Jeff’s current venture1:00:00 Big companies vs startup companies1:02:00 “Sometimes innovation can be backward.”1:04:00 Tiktok1:07:00 Maximizing your gains with a system1:08:14 Jeff’s new hobby - BacktestingSources Mentioned Peter Field on being “Heterodoxic or going against convention.” 👍 Keep up with The Freedom Chasers:Subscribe to our YouTube: https://www.youtube.com/channel/UC4_Wkdt-M2rKLmfucReIneg?sub_confirmation=1Follow us on Instagram: https://www.instagram.com/podcast_tfc/Follow us on Twitter: @tfcp_podcastJoin Our Facebook Group: https://www.facebook.com/groups/bulletproofsales
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    1 h y 15 m
  • Marketing Strategies to Help You Successfully Market For Probate in Real Estate

    Marketing Strategies to Help You Successfully Market For Probate in Real Estate
    Oct 4 2022
    Sharon Vornholt is a real estate investor who has been investing since 1998. And since then she’s never lost money in a deal! She works with probates and helps them sell. She is a woman who had a lot of experience growing up and hsa used that throughout her career. Sharon has a blog and a podcast of her own and posts free content for people to use. She is currently working on some workshops!

    On this episode we talk about investing, stories about working with probates, Sharon's childhood, past experience, and she’s on her way to finding freedom!

    How to reach Sharon Vornholt:

    Podcast: https://louisvillegalsrealestateblog.com/podcasts-lets-talk-real-estate-investing/

    Blog: https://louisvillegalsrealestateblog.com/

    Email: sharon.vornholt@gmail.com

    //QUOTES

    “I don’t think that you can ever really achieve a lot of success if you don’t have some type of goals.”

    “Don’t do what I did. Go in with the intention of meeting 1,2,3 people that will become real connections and learn how to network properly.”

    “When somebody told me “No”, I actually thought it meant no. I've since learned that when they tell you “No” it means not now.

    “You have to do the detective work to figure out how to get the leads. That is the hardest part of the process.”

    “You’ve just got to talk to yourself a little about your mindset and you have to understand their mindset and I believe all of that starts on the telephone”

    “I think, whether you're creating content or whether you are trying to get a sale, it all comes about the stories you build around all the people involved in the transaction.”

    “You have to just stop saying that and try to absorb what they’re saying because a lot of times people can look at your business through their eyes and see the land mines and holes you can’t see. "

    //CONCEPTS

    If you want to be successful at marketing you need to have the mindset of going into a meeting and finding a couple people who can help you and you can help them.

    Sharon naturally gravitates more towards marketing than sales. She talks about what main things she does for marketing.

    Sharon went from introvert to extrovert! She says it was a long journey but she found a way to abandon being shy and become very outgoing and talkative!


    // CONNECT WITH US ✅

    Subscribe to our YouTube: https://www.youtube.com/channel/UC4_Wkdt-M2rKLmfucReIneg?sub_confirmation=1
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    Follow us on Twitter: https://www.twitter.com/tfcp_podcast
    Join Our Facebook Group: www.facebook.com/groups/freedomchaserspodcast/

    // TIMESTAMPS

    0:00 - Introduction
    0:31 - Craziest Real Estate story or transaction
    2:13 - Expectations vs. Reality for Real Estate
    5:31 - Good vs. Bad goals in Sharon’s career
    11:26 - Do you naturally gravitate more towards marketing?
    14:01 - What is a good way to start investing?
    21:48 - Going to the courthouse? How does that work? Working with probates!
    32:49 - What are some of the challenges you had to face?
    34:35 - What was the process of going from an introvert to an extrovert? Why?
    40:27 - Who was your most important mentor?
    47:00 - How do you do content creation for wholesaling?
    51:32 - Do you still consider yourself an introvert?
    54:07 - What are you currently working on?
    55:11 - How can people reach out to you?
    56:17 - ENDING
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    57 m
  • How to Build a Real Estate Investing Team and Retail Team at the Same Time With Arthur Solomon

    How to Build a Real Estate Investing Team and Retail Team at the Same Time With Arthur Solomon
    Sep 29 2022
    Arthur Solomon is an investor and real estate agent. Arthur is a real estate agent with Coldwell banker where he is running a team. He was a Russian immigrant and came to America in 2001. Arthur got started with real estate investing and then transitioned that success into being an agent.

    On this episode we talk about ADHD, Immigration, real estate, and Arthur Solomons experiences with all of those topics! Arthur is a big fan of self development and growth. We spend a lot of time discussing his mindset. If you stay committed to this game there is no way you cannot fail.



    Don’t Forget To Reach Out To Arthur Soloman:

    Phone: (937) 631-5562



    Quotes

    “Take a risk in yourself and tell yourself ‘I'm going to do it no matter what.’”.

    “If you want to be where you have a vision of where you want to be, surround yourself with a person that you want to be.”

    “You need to find good books, you need to find some people that know that business, and invest.”

    “I can tell by a person how wealthy they are whether they have a big screen TV or a library.”

    “You just need to get started, I think that's ultimately it, and be committed.”

    “If you don't pay, you don’t pay attention.”

    “Never begrudge the money you spent on your personal development.”

    “In this business the most successful people are very disciplined, they're not the smartest people but they’re very disciplined.”
    “The only reason people are not successful is mindset and because they are not doing the work. The information is out there. It’s not lack of information it is lack of enthusiasm”



    Concepts

    •Arthur is an immigrant and he came to America in 2001. He explains how it was joining the business.
    • Arthur has a great working mindset! He explains that he has ADHD and how his mindset works around it. He is big on taking notes. He is also big on discipline and consistency. He might be all over the place but he is always heading in the same direction. He’ll get there no matter what.
    • Arthur knows as long as he does his prospecting daily his business is going to continue to grow.
    • Arthur talks about all his different mentors and how each one of them helped and influenced him. He is a big fan of Carlos Reyes, Tom Ferry and Jim Rohn.
    • Arthur discusses some of the benefits of ADHD. It is not all negative there are positives to it as well.
    • Arthur gives advice for when you’ve hit a bad place and what action to use to fix it.
    • Go read a book like “the miracle morning” and tell me three things you applied to your life. If you aren’t applying your knowledge it is worthless.


    Time Stamps:

    0:00 - Introduction
    0:37 - What was you Craziest Real Estate story or transaction
    3:38 - What was one of the darkest points for you? How did you get through it?
    6:12 - Real Estate Expectations vs. Reality!
    7:54 - What was the immigration process like?
    10:51 - Were you born with your mindset or did you have to develop it?
    11:36 - When did you know real estate was right for you?
    12:36 - What is your advice for people who are too scared to get into Real Estate?
    24:35 - Who would you consider to be your most important mentor?
    29:06 - What was your mindset shift from investor to team leader?
    34:19 - How did you deal with ADHD in Real Estate?
    36:54 - What are people that can become something even with ADD?
    38:21 - Do you constantly do multiple things at once?
    39:50 - Do you ever hyperfocus?
    40:15 - What would be a piece of advice for someone who’s had a bad time?
    42:55 - Were you born with the ability to troubleshoot and solve problems?
    48:05 - What are the benefits of your market compared to others?
    58:32 - How can people reach you?
    59:09 - ENDING

    👍 Keep up with The Freedom Chasers:

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    1 h
  • How to Finance Your Real Estate Investments [Fix and Flip Funding Simplified! With Wasah Malik

    How to Finance Your Real Estate Investments [Fix and Flip Funding Simplified! With Wasah Malik
    Sep 27 2022
    Interested in finance from an early age, Wasah Malik chose to start his own financial firm after University. His clientele ranges from individuals to small and medium sized businesses. He caters to their financing needs through a wide range of vehicles, including but not limited to business loans/lines of credit and mortgages. In this episode we discuss what it takes to be a good lender in the real estate investing world. We discuss different loan types for new and experienced flippers as well as DSCR loans. Don’t Forget To Reach Out To Wasah Malik: Website: https://aldridgewealth.comPhone: (630) 965-5048Email: Washa@aldridgewealth.comQuotes “There’s no giving up, there's no not working hard, it’s just not not an option.”“If all these lenders want to hire my services as an underwriter, I should be lending money on my own because I can”“You know how it is. You tell everybody you have an idea and everybody will say “You can’t do it”. You can’t let that stop you. Just because you didn’t want to do it doesn’t mean that I cannot do it. You just have to keep plugging away and if you have the right strategies you can get there”“ I feel like when you don't respect your own time, how will you manage anything?”“The whole point of making money is to become free from all of these stresses. You can do whatever you want, whatever you want, that's the idea.”“You don't need to know every answer to every problem as long as you know who to call if you don't know the answer” -Tim“Before you launch anything you have to do product development. You have to make sure that the product makes sense for the market. You need to define if there is a need for it.”“The very first thing a lender looks at in a deal is where are the gaps here. Where can things go wrong? How can I cover this if things do go wrong? That is the very first question we ask.”“If you are rich you want more money. If you are poor you need money.“ Concepts •Wasah Started off as a mortgage broker. He started his own fund with 10 million dollars at the age of 28.• Wasah is focused on getting the underwriting part of his business assigned to staff so he can focus on the big picture and work on growing his business. • His favorite part of the job is that he loves meeting people. He does a lot of speaking engagement and he loves talking with business owners and finding ways to support them. • Wasah is a walking talking billboard. If he goes to the grocery store he talks to everybody he can. It’s a great conversation starter. Do you need any money? • If you are a well experienced investor they can do 100% financing and 100% financing on the repairs as well. • Alldridge wealth will loan money to people that have little to no experience. • They lend on the long term suitability of the property itself and that is it. Debt service ratio has to be 1.1 at least and we will look at your credit score. • Debt service ratio is easy to calculate. You take the monthly rental amount and you divide it by your expenses. Property expenses will be the mortgage payment, property taxes, and insurance. • Wasah plans his day in 15 minute periods. He believes if you are not early you are late. There are only 24 hours in a day. You have to sleep, you have to eat, you have to do your routine. If you only have 8-10 hours to work you better be efficient with your time. • You have to be real about your vision. I know we get emotionally attached to our ideas sometimes. You need to be able to identify when something is not working. It is important to take a step back every month or two and make sure everything is working. Time Stamps 0:00 - Introduction.0:38 - Craziest Real Estate story or experience!7:57 - Real Estate Expectation vs. Reality.9:45 - What was your mindset you had to cause you to change business paths?12:00 - What do you do as a lender and how do you do it?12:59 - How did you know what types of loans you would do?14:44 - How did you come to a reasonable amount of risk that you’d take?17:15 - Do you enjoy some problems in your job?19:49 - What kind of marketing or networking strategies do you use?22:27 - How did Matt and Tim get into Real Estate?28:17 - How do you help inexperienced people who fix and flip?29:45 - Long term rental financing.35:03 - What tip, tool, or strategy was most effective in your life?41:01 - Who was your favorite mentor?43:06 - Matt, Tim, and Wasah are cooking and talking about hobbies!48:30 - What are you building now?54:29 - How to get a hold of Wasah!55:41 - ENDING👍 Keep up with The Freedom Chasers:Subscribe to our YouTube: https://www.youtube.com/channel/UC4_Wkdt-M2rKLmfucReIneg?sub_confirmation=1Follow us on Instagram: https://www.instagram.com/podcast_tfc/Follow us on Twitter: @tfcp_podcastJoin Our Facebook Group: www.facebook.com/groups/freedomchaserspodcast/
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