• Summary

  • Real Estate Investing: Behind The Curtain Podcast is a real estate investment podcast created to expose the reality of real estate investing and property management, and to let you hear the experiences and opinions of investors and real estate industry professionals. If you are just getting started in real estate investing or you are a seasoned investor with your own journey’s experiences, Behind The Curtain Podcast will enable you to be equipped to invest with common sense.
    Copyright 2021 All rights reserved.
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Episodes
  • Making Wise Real Estate Investments & Finding Expert Property Management

    Apr 15 2021
    Making Wise Real Estate Investments & Finding Expert Property Management Joe Viramontez joins us to talk about his real estate investment experiences, his bad property management experiences, and he shares how he sought expert property management and hired Enterprise Property Management, Inc. for the past 10 years. Joe also shares stories about his entrepreneurship outside of the real estate industry.    [**Excerpt**] Aaron Ivey: Joe Viramontez! I want to thank you for joining us on the Behind the Curtain podcast. You have been with Enterprise now for how many years? Do you know?   Joe Viramontez: Oh, it's been at least 10 years.   Aaron Ivey: Yeah, good grief.   Joe Viramontez: Yeah, probably maybe 8 to 10 years.   Aaron Ivey: Yeah. That's insane. I remember when you called me and I’ve forgotten who was managing your properties at that time, but it was really interesting to receive your call, because it's not every day that an investor calls you on the phone and says, hey, I've got about eight properties, and I'd like to transfer all of them to your management company.   Joe Viramontez: So back in 2008, during the housing crunch, that's when we purchased all our homes in Memphis, and everybody asked me why Memphis. It was because we knew somebody over there - a property manager that was getting bank-owned homes and, you know the story back in 2008, bank-owned homes, you're able to buy them much cheaper to get in and start your investment portfolio if you will. So that's what we did. I went from one property manager to another property manager, and then finally to Enterprise. The first two property managers started off great, but they did not deliver on what they said they were going to deliver, and ultimately I found out that there was some shady happenings occurring behind the scenes.    So we left one, I won't mention names, and then we went to another one, but it just did not feel as though they were really taking care of me and my properties or keeping us informed. Then I went on the internet and looked through Yelp and found Enterprise Property Management. You guys had 5-stars, you had nothing but great reviews, and Yelp’s a pretty reliable source, and that's when I reached out to you guys, and it's been fantastic ever since.    Aaron Ivey: Well, that's awesome. So, let me just ask a couple of questions and then we'll get back into the Enterprise experience. Joe has been amazing. We've had nothing but an excellent interaction. Joe, you could teach a crash course to investors on how to own and operate real estate from 2,000 miles away. I wish that you could do that and for our real estate investors to have an opportunity to learn from you. So that's kind of what we're going to try to do today; just talk about what your experiences were like owning real estate here in Memphis, Tennessee, what you would do differently, and what you really enjoyed.   Joe Viramontez: So I'm a retired fire captain from the Santa Clara County Fire Department and, you know, I retired, oh, 10 years ago now.    What happened was I've always been kind of an entrepreneurial guy. And while I've been working in the fire service, you know, I always had little side businesses - something just to augment the money coming in from my family - and what happened was my friend, an old-time friend that I grew up with, he knew somebody that was a property manager in Memphis. So when he was telling me about the homes he was buying I thought wow that's great, and they were bank-owned homes, so you could get them at a discount. We started buying homes - literally buying a house how every month back in 2008 - and we were in a position where during that time you're able to buy a house for let's say $100k and I was using my HELOC (home equity line of credit) so I could pay cash for the house and then I would turn around go to the bank and get a cash-out refinance loan. I was able to get back almost all my money less $4,000  per house, so essentially I only had $4,000 out of pocket for that house, because I was able to get a 30-year fixed loan for the house and could take that money again to go buy another house, and do the same thing go back to the bank get a 30-year fixed loan. I would only be up $4,000 on each home and essentially we bought our 10 homes for $40,000. I had all of the homes on a 30-year fixed loan, so I was rock solid on our loans.    I had a friend that got 15-year loans and he got underwater real quick because he ran through a rough patch during like 2009/2010, and because he had a 15-year loan, which he could have refinanced, he was bleeding every month. So we were right with our 30-year loans and then it was just a matter of having our homes maintained but, as I found out, not all management companies are the same. You really have to do your due diligence and find the best one.   Aaron Ivey: That's fantastic. We always try to keep the trend positive on the podcast, but I'd ...
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    54 mins
  • Financing Real Estate Investment Property

    Apr 5 2021

    Part One:

    How has COVID-19 impacted real estate both around the country and here in Memphis? We also delve into the potential impact of COVID-19 on the historically high rent prices, and we ask if COVID-19 is the cause for low levels real estate inventory currently available in the marketplace.

     

    Chat Neighborhood: “News of the strange but true.”

    We bring you funny stories of a man who has flown an American flag for the last 2 years from the balcony of his condo, but the condo association has now asked him to take it down. In another story we will tell you about a person who quit their job and their final paycheck was paid as a wheelbarrow full of pennies, and finally a the antics of a man that was arrested three times in one day.

     

    Part Two:

    In this interview we talk to Tom Robertson, of Hometown Capital Group here in Memphis, TN, about the financing options he currently has available for investment property purchase. He talks about the current products he has and how he is able to work with investors to provide the financing that they need. Tom can be contacted at 901-552-5530 or online at 901mortgage.com.

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    42 mins
  • CDC eviction moratorium unconstitutional?

    Mar 31 2021

    In this episode we talk about our Investor Summit and how we all came together in Memphis; a social and learning event allowing investors from all over the country to come together and discuss the Memphis real estate market and to get to know like-minded investors.

     

    Has a court ruled the CDC eviction moratorium as unconstitutional?

    We discuss this case in Neighborhood Chat.

    Our guest on this episode is attorney Mike Mitchell. He joins us to elaborate on the current legal challenges due to COVID, facing landlords and property managers.

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    53 mins

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