Wheelbarrow Profits Podcast: Multifamily Real Estate Investment

Mike Taravella and Will Coleman Interview Carson Hess of Development AI. Key Information: Development AI is a software that allows real developers and investors to find and evaluate zoning regulations and restrictions for particular parcels of land in a given city.  Each city and town has zoning laws specific to that area. Finding and evaluating these laws is a very time consuming task for developers and syndicators. Real estate and construction are both technologically antiquated industries. Finding ways to use technology for common tasks  Zoning 101:  What zone is the property located in? What use is permitted per the zoning ordinance? What are the dimensional regulations associated with the type of building you want to develop? The best way to learn about development is to find major developers in your local market and figure out ways to work with them on a development project.. Expert Pro Tip: “Talk to everybody” Contact Information: https://www.developmentai.net/    Linkedin - Carson Hess Instagram - C

In this episode, we learn how Gino Barbaro began his journey in multifamily. He is interviewed by Josh Roosen. Topics covered include How Gino got into multifamily and took control of his life Why Gino started the podcast and wrote Wheelbarrow Profits Why Gino decided to coach other multifamily entrepreneurs Gino’s Bio: Gino Barbaro is an investor, business owner, author and entrepreneur. He has grown his real estate portfolio to over 1600 multifamily units. He is the co-founder of Jake &​ Gino, a multifamily real estate education company that offers coaching and training in real estate founded upon their proprietary framework of Buy Right, Manage Right &​ Finance Right. He is the best-selling author of two books, Wheelbarrow Profits and Family, Food and the Friars, and graduated from IPEC (Institute for Professional Excellence in Coaching) where he earned his designation as a Certified Professional Coach. He currently resides in St. Augustine, Florida with his beautiful wife Julia and their six ch

J Scott (he goes by"J") is an entrepreneur, investor, and the co-host of The BiggerPockets Business Podcast. In the past ten years, J and his wife have bought, built, rehabbed, sold, lent-on and held over $70M in property all around the country. J holds advisory roles in several companies and is the author of four books on real estate investing, including the best-selling,The Book on Flipping Houses.    He speaks with us about setting goals, syndication and horse racing.   j@jscott.com   The Rundown BiggerPockets 123Flip 2008 Investing Lifestyle Choice Work/Life Balance Passive vs Active House Flipping Changing Paths Rentals Multifamily Syndication Asset vs Liability Rich Dad Subjectivity Asking Questions Know Your Numbers Know Your Goals Older Assets Skilled Labor Discipline Multifaceted Multifamily Master In First Risk Analysis Horse Racing Mentorship Syndication Tips Habits For Success Book Recommendations Crypto Currency Ginos Wrap-Up   Check out our Upcoming Live Events!   Subscribe to our Youtube Cha

Mike Taravella Interviews Brandon Abbott of PassiveInvesting.com. Key Information: Consider what a tenant is willing to pay for before moving forward with full renovations. What you think is a good renovation, and what your tenants are willing to pay for are not always the same thing.  If your property management team is not hitting the mark, it is ultimately your fault as an owner. There is always something you can do as an owner to ensure things are being done. When delegating tasks to your team members, be clear about communicating what the end goal is. Clarify not only what needs to be done, but why it needs to be done so that your team can be proactive in achieving that goal. Value-add doesn’t just translate into renovations, it can also mean cutting excess spending by running the property more efficiently and effectively. Hiring good employees may cost more money in the short term, however, it will increase revenue in the long term. Good employees provide a better service to the residents and drasticall

Julia Barbaro & Gino Barbaro discuss the six stages of energy and why you need to understand how they impact your daily life. Every action that you take throughout the day corresponds to one of the six stages, and being conscious and aware of how you react to the situation will allow you to take control and act in an empowering fashion. The six stages are as follows:   Victim Anger Responsibility Concern Reconciliation Non Judgmental   The first two stages are referred to as catabolic, a low, negative draining energy. When a person is in this type of energy, it is difficult to find solutions, and the focus is purely on the self. It is important to understand that you are acting in this manner, and the focus should be how to raise your level of energy and try to “get into” the next stages.   The remaining four stages are considered anabolic energy, positive, uplifting, and energizing. This is where we begin to take positive action, begin to view problems as opportunities and start to look for and create

Carmine Gallo is a popular keynote speaker, a best-selling author whose books have been translated into over 40 languages, a communication advisor to the world's most admired brands, and a graduate school instructor at Harvard University. Carmine is a columnist for HBR.com, Inc.com, and a senior contributor at Forbes.com. Carmine’s nine books have been endorsed by top leaders, billionaires and CEOs who have used his ideas to transform their business. His bestselling books include: The Presentation Secrets of Steve Jobs, Talk Like TED, The Storyteller’s Secret, and Five Stars. As a CEO advisor, Carmine has worked directly with leaders at brands such as: Amazon Web Services, LinkedIn, Walmart, Coca-Cola, Chevron, McKinsey, Intel, Accenture and many other notable firms.    He speaks with us about communication, inspiration and the croc brain.   www.carminegallo.com The Rundown Early Journalism Career Business News Communication Economists Presenting Ideas Entrepreneurship Writing Inspiration Steve Jobs Passio

Will Coleman and Mike Taravella Interview award winning multifamily syndicator Bruce Petersen. Key Information: Despite low cap rates, investors still need a place to put their money. The low cash on cash returns in muti-family are still better than letting cash sit in the bank with low interest rates. Success in real estate is all about taking action. You can’t hesitate, you must be keep moving forward, taking daily strides. Stress test your property in your underwriting. Assume no rent increases in year 1 Underwrite 70-75% break-even occupancy Increase your exit cap rate by 15-20 basis points every year of the hold Account for the possibility of reserves    Reserve Strategies:1) Look to delay capex during the first six to nine months in order to use the reserves once returned 2) Evaluate the possibility of return of capital following the end of the reserve period Floating vs Fixed Rates: Avoid floating rate terms for real estate financing. Due to its unpredictability, it adds a lot of risk to each investo

Topics Covered Include: How education inspires confidence which leads to results The power of self analysis and filling your weaknesses How Clayton at the age of 24 was able to break into the Multifamily space   Peter’s Bio:   Clayton Hepler is a real estate investor who pursued academia for the majority of his life without achieving the fulfillment he expected. He realized the grind is guaranteed, but wealth is not – so you might as well grind for something that fulfills you.   At this realization, he parted ways with his academic and athletic career at Middlebury college and jumped fulltime into an entrepreneurial venture with his family – a gourmet toffee company. From there.with a newfound appreciation for wealth building and an entrepreneurial spark in his spirit, Clay turned his attention to investing – more specifically, real estate investing. And after weighing his options with the many avenues of the real estate industry, he accepted a Director of Acquisitions position with Pittsburgh’s Bevan Prope

Ari Rastegar is known for both his specialized expertise in real estate and his contrarian investment strategies, and is considered a leader of the next generation of real estate managers. After graduating from Texas A&M, Ari went on to receive his Juris Doctorate degree from St. Mary’s University Law School, and became licensed to practice law in Texas in May 2009. Ari founded his first real estate investment firm in 2006 while still in law school. Since then, he has built a portfolio network designed to reduce risk and provide strong quarterly cash flows, with an emphasis on asset classes such as self-storage, multi-family, office, retail, and industrial. He’s been recognized for his specialties in recession-resilient strategies and commercial real estate investments. Ari has maintained his commitment to a purposeful life that drives Rastegar Property Company to “do good by doing well,” and is a longtime supporter of charitable organizations like Save the Children and Big Brothers Big Sisters. He speaks

Will Coleman and Mike Taravella Interview Chad King of Titan Capital Group. Key Information: Many people are shifting to invest in multi-family as fear grows around the probability of rising inflation and low interest rates for the coming years. There are deals in every phase of the market cycle. What changes is 1.) how you find them and 2.) how you adjust your underwriting and pro forma assumptions. Off Market Campaigns: It takes on average four to five contact attempts with owners before you receive any response. Be persistent and you will eventually come in contact with interested sellers. Sales Tips: 1.Tactical Empathy- Put yourself in the other person’s shoes in order to understand what they want to achieve and what is causing their concerns. Take Control- A good sales person is talking 10-20% of the time while the person being sold to is talking 80-90% of the time. Taking control of the conversation means letting the other person discuss what they want and what needs to be done to help them get it. Ask

Welcome to the Multi-FAMILY zone podcast, where business meets family. The hosts of the show, Julia and Gino Barbaro, have been married for over twenty years, and have six children. Julia homeschools the children, and recently became a marriage and life coach to help couples become better communicators and help enrich their lives.  The couple is constantly asked about how they balance their entrepreneurial and real estate journey while raising their kids. The Multi-FAMILY zone was created to address these questions, along with a host of questions from the Jake and Gino community. In this week’s show, Julia and Gino interview Aaron & McKayla Hale, two Jake & Gino community members. They have an incredible story to share. After serving 14 years in both the Navy as a chef to the Commander of the US 6th Fleet and then transitioning on to becoming an Army team leader in one of the military’s most dangerous jobs, Explosive Ordnance Disposal (EOD), Staff Sergeant Aaron Hale was blinded by an IED. Not letting

John Ruhlin is the world’s leading authority in maximizing customer loyalty through radical generosity. He is the founder and author of Giftology and has been featured in Fox News, Forbes, Fast Company, Inc and New York Times. While becoming the #1 performer out of 1.5 million sales reps for one of the world’s most recognizable brands, John developed a system of using generosity to gain access to elite clients and generate thousands of referrals. He and his firm now help automate this process for individuals and organizations like UBS, Raymond James, DR Horton, Keller Williams, the Chicago Cubs, and Caesar’s Palace. John and the Giftology team can help any individual turn their clients into their own personal sales force to drive exponential growth.    He speaks with us about gifting, company culture and shirt sizes.   www.giftologysystem.com   The Rundown Building Rapport Bios & Book Covers COVID-19 Relationships Gifting Tchotchkes Closers Club Hand Written Notes Memorability The Deal Pen The Power of G

Will Coleman and Mike Taravella Interview Rob Beardsley of Lone Star Capital Group Key Information: Preferred Equity is a hybrid product which is subordinate to the senior loan but has payment priority over common equity positions. Benefits of Preferred Equity include: Sponsors and developers are provided with a higher degree of leverage at lower cost than common equity. For real estate investors it also provides opportunity to capture a fixed rate of return prior to payment and can sometimes include upside. Preferred Equity offers a hybrid risk/return profile. In addition to payment priority over common equity, it provides some recourse provisions in the case of borrower default.  Recourse provisions can include force of sale of the property and even take over of the property when certain triggers are hit. Investors can be attracted to the preferred equity dues to its predictable annual returns and regular distributions of debt investments.    Expert Pro Tip: “Evaluate deals on a risk adjusted basis” Conta

Topics Covered Include: How buying a distressed Primary residence lead Chad to become a real estate investor How keeping it light hearted and fun can create opportunity Why it's easier to copy your way to success than reinvent the wheel! Dr. Erin Hudson is an Accomplished ten-year entrepreneur as well as a wife and mother of five. Dr. Hudson is the proud owner of Hudson Wellness center and serves as a director for over 30+ employees. She’s a successful real estate investor with a track record spanning five years, as well as an asset manager of a 23.5 million Real estate portfolio. Currently she has got 292 doors under her belt with 88 under contract. Dr. Hudson is a firm believer if you want something bad enough go for it! All it takes is 1 foot in front of the other. Her mantra is the sky’s the limit!   Chad’s journey in real estate began when he and his wife purchased their first home years ago in a market that was so hot it almost priced us out completely. After doing a live-in rehab and reaping the rewa

Pros & Cons of 1031 Exchange with Dave Foster      Dave Foster, Founder and CEO of The 1031 Investor.  Dave is a degreed accountant and serial real estate investor who is a qualified intermediary and consultant for tax saving strategies such as the 1031 exchange and the section 121 homestead exemption. Dave started fix and flipping in the 90s and realized that about 40% of his profits were going directly to the IRS. Dave tells us about the updated rules and regulations around using the1031 exchange to legally compound your tax interest that will stay with you instead of going straight to the government. Dave breaks down exactly how to use the 1031 exchange in layman’s terms. He explains to us how he moved his way from Denver, CO to Tampa, FL over 10 years using the section 121 homestead exemption, so that he and his family could move onto a boat (which was a huge dream of his). Tune in to listen to how Dave raised 4 boys on his boat while investing in properties with the 1031 exchange.    He speaks with u

Will Coleman and Mike Taravella Interview Gino Barbaro of Jake and Gino’s Real Estate Investment Education. Key Information: People, systems, and culture: Focus on these three aspects of your company in order to develop a phenomenal customer experience. The customer journey first starts with your employees. Invest in your employees and they will invest in your customers. Empower your employees to be proactive and solve problems before they occur. This will remove bottlenecks, and improve day to day efficiencies. Implementing systems is vital to scaling your business and maintaining the same quality customer service as you grow. Develop  Great companies have strong core values. Establish your core values and grow your company culture around those values. For syndications, spend time developing relationships with your potential investors. Make sure your goals are aligned and that you are both on the same page about what you want to achieve.    Expert Pro Tip: “Know your numbers” Contact Information: gino@jakean

Welcome to the Multi-FAMILY zone podcast, where business meets family. The hosts of the show, Julia and Gino Barbaro, have been married for over twenty years, and have six children.    Julia homeschools the children, and recently became a marriage and life coach to help couples become better communicators and help enrich their lives.  The couple is constantly asked about how they balance their entrepreneurial and real estate journey while raising their kids. The Multi-FAMILY zone was created to address these questions, along with a host of questions from the Jake and Gino community.   Meet Braden & Leah Gasper, two amazing Jake & Gino members, who are full time real estate investors and parents of two young children. Braden was a high school basketball coach, but soon realized that he yearned for more and wanted to be able to provide an abundant life for his wife and kids.   Leah decided to become a stay at home mom, the backbone of the family and the support that Braden needed in his life to continue

For over two decades, Ken McElroy has experienced great success in the real estate world–from investment analysis and property management to acquisitions and property development. With over $1B investments in real estate, Ken offers a unique perspective on how you will get the biggest return on your investments.    Ken and his business partner, Ross McCallister are the founders and owners of MC Companies, which is a real estate investment company, primarily multifamily of over 10,000 units and 300 employees.    Ken’s commitment to the success of MC Companies is rooted in his desire to help others live their best lives. His passion for real estate, speaking, writing and philanthropy is always embedded in his daily guidance whether it be in a meeting at MC or a speaking engagement across the world. He’s been featured on Cheddar, Fox and Friends, Forbes, ESPN and many more. He’s a consistent contributor to Jetset Magazine and Rich Dad Radio.     Ken is the author of the best-selling books The ABC’s of Real Estat

Will Coleman and Mike Taravella Interview Logan Rankin of Rankin Enterprises. Key Information: Play the long game: You have to build up your infrastructure and education before you can really get moving in Real Estate. Invest in banking relationships: Develop relationships with your bankers by setting up meetings and periodically sending them updated financials. Target properties with bad property management and develop detailed systems and processes. Reach out to tenants in the first ninety days. This will go a long way in making sure they feel valued and decrease the overall rate of turnover for a property.  Use tools like appfolio, dropbox, and google drive to keep detailed records of how properties are performing. Keep your employees accountable. Be transparent so they are aware of when they are doing what they are supposed to do and when they are dropping the ball..   Expert Pro Tip: “Always question why you are investing the way you are” Contact Information: Logan@rankininvestment.com     To register to

Topics Covered Include: How and why Doug was able to leave a 20 year career into Aerospace Engineering to become a business owner How short term discipline of putting your money into an assets vs a liability can yield big results How Dough & Jill run their business as husband and wife   Peter’s Bio:   Doug and Jill  Reddell are multifamily investors with a rental portfolio of 181  units in  Nevada and Oregon. Their properties range in size from 2 units to a 117-unit property bought with a co-owner.   They live with their two young boys in Reno, Nevada. Doug was an Aerospace Engineer in Los Angeles for more than two decades until 2015, when he shifted into self employment with an investment into a small business. And Jill worked for the University of California Los Angeles where she helped to form a major research initiative called UCLA Grand Challenges.   The Reddells’ entry into full time multifamily investing began in Southern California in 2017 with one four-plex in Redondo Beach, one condo in Palm D