Lifestyles Unlimited, 8/19

Lifestyles Unlimited
Sunday, August 19th
Lifestyles Unlitmited for August 19.

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Welcome to the lifestyles unlimited real estate investor radio show a real estate investment program. Listen and learn how to use realistic to build wealth or passive income streams were you when your family. We bring you experts everyday to discuss and answer your questions on everything from single family homes all the way up to 600 plus unit apartment complexes. And now the lifestyles unlimited real estate investor radio show. Welcome to the show I'm your host Glenn Murrow as always we are working on your financial freedom. Today's lifestyles on limited single family and torso realm warrant is my guest. And we're going to spend the next hour we can use sharing some things we've seen real estate investors do. That cost them time and money and the fact is China's money. Your time is the most valuable resource you have it cannot be replaced once it's gone and it's in really important that you learn. The most common things that that people are doing out there that cost them time and money unnecessarily. So are what I get an opportunity go to now is the best time caring to show. To Colin and ask your question you ask questions about single family or apartment community real estate investments. Anything you wanna talk about we're here to help you out. Lifestyles unlimited is eat nearly thirty year old real estate education mentoring company. We can help you out give us a call let us know what's on your mind whether you're just getting into the business. Or you've been into the business awhile and you wanna know how to get even better returns from your real estate. You can call us at 8777115211. That's 8777115211. We have 38000 members across the United States and several other countries. Who were part of a very active community of like minded real estate investors it's a mine trust. And that's grown up around our education and mentoring program. I've been a member for ten years and I have been on the team for eight years as a mentor our radio host and executive vice president of the company. And I have both single family and multifamily apartment community investments my guests around Warren is also an active investor. He's a single family mentor. And seraw would you tell us a little bit about you and your story. Good morning and deputy editor much yes I have been remembered for obvious there's only 2013. I spent thirty negotiators working fail and what about those people won't be ups and downs. The most cautious sales slow movement indictment on the years. Not a lot of money from is that at some really great views and a couple really horrible as well. I'll get on the didn't play well enough or retirement. And I try to catch up when I was in my early this season. So burdensome roadblocks. I actually. But the people who overcome and the plan on what went well I've been a year ago. And they've money it has been very nice retirement at that point that it would be familiar foe. And each year who lives by. Person but couldn't because of Iraq irate and his commitment on the cover. There are more income statement from the government well. And then I was considered highly compensated employees and my contribution to limited income and have a lot to say trying to catch up the paper that kept happening. And I heard it. Let's talk radio show one day and I heard all the benefit by application went on in the state of Ohio the tax affirmative. What was going treaty and what to have for work out and weaker and the radio program going to account number. And start buying content and two years later I became Burton members of the multifamily. And this sentencing of go hand. And there years I was able to. That in my my. Income requirements. And I was able to retire from my corporate job. At it it was the best. It got so it just that that short little summary there at the journey that you have been on the hit that was that was jam packed full of information so the first thing you experienced was. What it. The majority. Of people our age are experiencing right now and for those of you that are younger boy it's in your future if you don't do something to prevent it. And death that that concept of the 401K the IRA being able to invest in those vehicles through the stock market. And this idea that you can make timely that. And you're right there are significant restrictions on how much money you can put in in high income earners would. Maybe often choose to put in a lot more than they're allowed to each year because you're deferring the taxes. And does the government really doesn't want you to do that they would they would like to have that tax money now. Is that they restrict how much you can put in there aren't for those of you units are Allan Mayer in our fifties. And you know for those of you that are younger you're still being pitched on the scene broken retirement vehicle. That. That we experienced and lost money through the cycles. Of the up and down market and if you come into your fifties not prepared for retirement. You have to do something else and so you might as well get started early if you're younger if you're like surround and I then it. There's no better time than today rights are out an order to get started he talked about coming to a free workshop. And if you would like to do that if you are note that you'd like to just come and find out who we are. Right you commitment whatsoever we're just gonna tell you who we are what we do because we have a very specific. Investment model. And a belief system about life and investing in real estate investing and preparing for retirement how to create wealth of passive income. To come find out what it is see if it matches if it rings true for human interest surround the and I. And you can register for the free workshop at lifestyles. Unlimited. Dot com. Lifestyles. Unlimited dot com and go there you can. Look around on her website you can look at radio podcasts and you can also sign up for a free workshop. You mentioned that you went to the free workshop then you went to the two day seminar. That was in the middle there probably. And our two day seminar it is I think the best deal in real estate investing where we spent sixteen hours telling you exactly how. We do we do we have nearly thirty years of experience 38000 members. Teaching them how to invest in real estate and then you chose to have some additional education and mentoring with our challenge program. And before we went further with your story strong ones explain what that program is that the challenge program. Is available for people who want more education mantra when you come out of the financial freedom seminar that today's seminar. You have at least one year membership sometimes to your membership that lifestyle she can go back to that seminar monthly if you like. You can watch online you can go live. Across the country but absolutely in Houston Dallas San Antonio and Austin. And you can attendance many times as you want which is an unusual thing there's no additional cost for doing that because we know that people don't retain all that information. And they need to go multiple times to build on what they learned last time and learn more and more. But typically when you come out of that first weekend you know more than most real estate investors do. And you can go out and buy a single family rental or small multifamily property 510 units. And do you can do what we teach coming out of that. But if you want or help locating properties if you want more help with the hands on mentoring that we do stepping through the process. Then the challenge program is or single family program and of course that's your babies around right in Houston you are you are one of three mentors there. And so what did you tell us a little bit more about your story what retirement is that like for you why. Why are mentoring. When you could just be sitting on a feature on a boat somewhere like you did recently. And that that tells a little bit about. You know your experience with mentoring. I think I I I've coordinate travel and of course both in your below the problem love to see the world and you know kind of you know excited that the nation's. Open the people and culture are so low that I was just huge part of my life. And that's what I was doing in my last job and then went on which our arms vote for about a year before it. Came the last couple. And when I travel a lot and but the movement because it would it would have been able to retire wise rudimentary. I knew nothing about real estate investment. The people who walks you through. To me. Get to a I was able to retire during that brilliant if Syria. So I want the opportunity came up I was happy come back and give back to them in the position help other people that I've been. But I you know those motto if not when it's the last. And so they have to continue to look the last. And what you just mentioned them but I think we did I I mean position now that I can make so I think a lot of my my you're trying to copy people. I phoned him back you know. And I can do that from anywhere. We actually took a trip to Greece than. What my close friends and sort of felt ultimately was that a week from the north of some of the smaller group got. I was able to. Responsive voicemails and their opening protect our calls and the members while I was but it also voted for the Obama agrees. So that's. The kind of combining both world and help people that incident to their financial freedom go forward if we continue to live a lifestyle while I'm doing that. No and that's that's the interesting thing about people think about retirement everybody's got a different picture and their head that. Those people that I talk to you retirement has not working. And if you talk to people who have retired often times they'll tell you about him seems like. 23 months it's not very long after retiring. They're bored and they don't know what to do with themselves. And you might hear them say that their spouse can't wait for them to find a hobby that takes him out of the house. I hate filled too much time together or whatever and and then other people who who love spending their time together. But the date they wanna have a purpose and were. What you and I both have been able to do is have that wonderful blend where I asked people all the time in my working hour playing right here in front of you. Am I working airplane teams you know 'cause I don't. And it's it's a wonderful way to live lives. So well it's time for a short break. You are listening to lifestyles are limited real estate investor radio show when I'm your host Lynn grow up with my guess active real estate investor lifestyles unlimited single family meant to surround warrant. If you have a question for a she can get on the line right now during the break by calling us at 8777115211. That's 8777115211. Will be right back. Lifestyles unlimited is the real estate investor education and mentoring group that has been teaching people by the hand and teaching them how to invest in real estate for over 28 years our students have been so successful equity wealth and passing incumbent they have one of the local state and national investor the year awards twelve of the last twelve years it's easy to see why the real Teen Magazine need a hospital asking you blacks speak you're ready to amnesty for portfolio due to lifestyles unlimited Austin dot com to exercise for you by slam events schedule. And lifestyles are limited we don't just teach our members how to retire in five years or less by investing in real estate. We provide access to good tools they need to make it happen though you can use them to attend the free online class how to get the best investment property. To learn the property valuation techniques and tools. To identify their very best deals. Go to getting the best deals dot com to sign up today. That's getting the best deals dot com. Thirteen seventy. You've made the right choice. Here at critical document. Or. Welcome back to lifestyles unlimited real estate investor radio show I'm your host Lynn morrow. With my guest active real estate investor and lifestyles unlimited single family mentor serve Rel Warren. And today we're providing a more effective road map to your financial freedom. By eight going through some of the things we see real estate investors do that cost them both time and money. As Terrelle you're out there every day working with real estate investors say can you sheriff does some on May be your top three or four things you see. Real estate investors do. That if they would it. Follow. A more effective map they would have more time and make more money. Absolutely and and the first thing you're not what they should be the first thing is if you do something that's an action. That would members showing that the level and they get an initial consultation with one of them of course. And they come in and we lay out a map for them this is where you are today is the capital you have because starter. Did you go in and out of map because of one point eight when they get them what they are paying their current work situation. You get to that financial freedom go whatever they've only used in a step back our about their income amount. And whether that is to play an incumbent to stop working at a additional income. Whatever the doldrums. And we will have that because they're imported equipment. And the biggest problem I mean there's a lot of the members. Don't take action they have the goals that have the resources and there have been massive problem but I do not. And they're in their respective. And I both of the people who. What would a month ago and they haven't done a single thing. When people come in and I haven't met with previously potential in the year ago two years ago and they've never been there. And so the post and you just cheap too attached. She that's what I want one of the stress on the members is to live on that. And that's for any real estate investor out there in a dare you can consider down. A tremendous amount of real estate education. Whether you are trolling the Internet and picking up everything that's that's offered out there from Austin and other folks. Or whether you are going to. Activities in your area meeting with other investors attending short little classes or your. You know pain for a very organized education program. You. And gather all this information but knowledge is not power it is knowledge plus action that is power. It that knowledge in your head doesn't do anything for you unless you put it into action we do here when people delay like this. Something will kick them into action. And that we even have any what we call it Della summer founder tell obviously has. At that wonderful storytelling approach to. It to teaching other people what he has been successful doing. And it's what gets in the way of a great life is a good life. And people get distracted. And we you get distracted you'll be amazed at how much time to go buying. Without taking action on something. That was incredibly important to your future and people often writes early pioneers all the time too is I wish I had done sooner. Absolutely. And send it. Capitalism and one of them are one of our paper I'm sorry you can't break. A bit one of my favorite albums in the student training he says that the entire class go to the back of the book the right down. I did not do what they're out there to do. And so when something is not working because. The members of not following the model. I was kind of fortunate enough of them and those stupid enough and I didn't know anything about. And I did exactly what goes so do and it works extremely well or. But everything we're talking in my day when it comes down to I did not do what though it owns. One of the other things that people do that cost them time and money. It is not on the map. This is something going to anybody but some people can come and they they went fervently to open that he felt we had the map. We ask them what their criteria it's what they're looking forward sort of cash flow national cash returns equity capture in the major thing that's going to. Open or. And then and they are all out there and I can't sum them up later or two months later and have done something we need to. And have been we have one of the benefits of that membership on those who have wrote my will be paid members are property. And the combination of educational value to our home owned by our members that some century we have. And we'll probably because armament or on the property is involved in these delusions. Check on the contract with it and then got career process started. Who built our house has failed and then we'll president percent of out but. And we had Roger just yesterday. I'm talking to a couple of members who are about all of the map. Yeah I mean it's. You know graphic gives breaks trouble let's talk about that when we get back is what is it in our human nature that makes us. Do things different than what we know we should be doing. You don't want to miss this next segment we're up against the break here at a lifestyles unlimited real estate investor radio show that we will be right back I'm your host slimmer with my guess around warrant. You can get on the line. Did you know that every dollar you invest in real estate makes you won five ways cash flow money in your pocket each month. Equity capture the thousands of dollars and create when you have a great team and by the white property using the right map appreciation. Realistically increase in value over time equity built renters pay down your mortgage each month. And finally the tax advantage when done correctly real estate investors pay no taxes on our cash flow and capital gains at lake styles unlimited these are the five ways we'd make money in real estate which is why real estate accounts for more millionaires in the world today that any other investment vehicle you should have some realistic in your portfolio. To learn how to attack the lifestyles unlimited free workshop call 8669718970. Or go to what style unlimited Allstate dot com and register for the next available workshop. That's 8669718970. Or go to what styles unlimited Austin dot com. Top thirteen seventy. We're back with the life styles unlimited real estate investor radio show I'm hustling morrow and we think today's Rel Warren active real estate investor and lifestyles on limited single family and tore. Today's we're sharing some of the things we see real estate investors do that cost them time and money we want to share those with you. So that you can look at your behavior. Either as an experienced real estate investor or someone trying to get into the business. And determine if this is zero and if so how do you correct those things. If you'd like to ask the question give us a call at 8777115211. That's 8777115211. Throw before the break you were telling the story about a real estate investor and a member of lifestyles unlimited. Who attended a road trip where we visit properties we walk through them together to help our members learn. What to look for in the property what should be done. And then to create a scope of work that will result in the best product. At the best price and that some market because the result of doing that if you have. The best product in the market. And that doesn't mean that you put all the bells and whistles and every prop every property you look at the sub market. And you do your rehab level up to that some market and add one thing. That makes your property the best one there and a big part of this is fixing everything that's broken aren't likely to break in the next hike fears. And then you offer it at market price. And by definition your property should be the next one rented him that sent markets so this is what we're trying to achieve there. This member had been the he had his roadmap he knew exactly what he was looking for he had been offered properties. And for some reason didn't take action. And then here is on a road trip and I think he said that there was four properties offered. And what did that number do. Welcome. Remember. Started the road trip but then didn't complete it didn't go to our it go to lunch where there are these are actually drawn upon them from the mine in order. A preference to be able to put them I'm actually the property. And so it didn't make any golfers out there and I'm I'm trying to make copy didn't put them happy to be packed so if we look at propped. And here's property written criteria. That he's been looking war. But then he wasn't around to be able to be activated that it could go look at the property it was in position to make an opera. It was a mentor are the courts. Right as as a mentor you see this from time to time and I think this is one of did the biggest things we do as mentors is to help people over at this initial. Hump that happens. And that's that's why you're bringing it up today you know is that this is something where. If you're on your only you're struggling with this getting some mentoring really helps so. As a mentor and what are the reasons that you see when you get on the line with these people look back what causes this. I'm still pampered and out to some degree a lot of atmosphere. And the people just afraid to take action for it missed about an effort to get started in that case. And enact a bill talked a lot about and that's indifferent about the parent period are you personalities. And it's a lot of good can come right down to that. Apparently I'm equivalence or more reserved more confident when people usually what people actually do well and constant interaction. And the other side of the Taipei in grocery chain of equipment that one those kind of people. And we had a kind of a combination of those yesterday at this and I wrote should not only is an example we just got Austria and not a member who. That's where the crowd cheers and wanna you know movement and their cash and cash are. But when you look at property. It is that he's been a is we have. The property owned it and what actions are. And now he's got a couple of the rehab and it's been a proper attention especially the war because the actual sport. But you're right we are property and on with the task with a special special wouldn't it be the national corn. And that that happens from time to time as well with people when they lose sight it. The end goal what they're trying to achieve and it's funny that we sit here and say OK you know he he required a 15% return. And you know than it dropped to twelve than they had another hiccup end. It it might drop to ten right you still have double digit returns in this market which is an amazing return. And it's it's funny how we look at it because we have a model that allows us to generate exactly what we're looking for if you follow the map. And that that's they key to the whole thing is that once you figure out what you need to be doing. Danny it's the process of simply stepping through right you've got a Mac you know where you want ago. You put it in your GPS. And what we're talking about is those few people out there who won't follow their GPS GPS just turn right and they decide to get it turned left instead and expect to get to the same destination. It's time for another sharp break will return in just a few minutes with more on the lifestyles on limited the estate investor radio show you'd like to get on the line give us a call at 8777115211. That's 8777115211. We'll be right yeah. What would happen if you can show for tomorrow for the next couple of days for week. A couple of months and year how long until you lose everything you or forcing a fraction of its kind of earn it. This year's keeps you up that night it's time to learn the strategies you teach at lifestyles unlimited. Start with the free work go to lifestyles on limited Austin dot com and find. Through financial. It's like so many of our members all right yeah that's lifestyles on limited Austin dot com. We know your route hiding in plain so we feel like a quiet desperately wondering if you're going to keep your money to the current. There's a better way of federal light at lifestyles. It's time political life he deserves he could only do that by reading passive income let us show you out. It's just two hours. If you worse than another beauty about meetings or another mine was my front of the TV go to. Lifestyles are limited Austin dot com that's lifestyles on limited Austin dot. I'm so glad you're here with us on the lifestyles unlimited real estate investor radio show I'm your host in Europe and we're talking today about the things we see real estate investors do. That cost them time and money I guess today's Terrelle Warren he's an active real estate investor. And a single family mentor with lifestyles are limited and Terrelle let's just keep Rolen was some of the other things that you've seen people do. When they're investing in real estate that is costing them time and money and these are things that as mentors we intervene. In order to turn these things catch Jimmer land turn them around if we can. You know if if if they're staying with us and moving through the process says they should you know we asked them to call us every step of the way. And it communicate with us and tell us what they're doing when they do that we can catch these things up front as they start to do them but. Also more things that you observed that people tend to do. Dead yeah that really prevents them from maximizing cash flow if we don't catch it. Well one of the key things that that kind of opponent beginning. They need a meeting with me what were the other mentor went on from American or with an action plan is the next step. And one of the posting on their primary thing as a country can together. And that's our twit compared lenders to get them into the looks back at that particular person that are. Current financial position. The interesting thing is also. Given contractors because you know I was that would buy the most that I'm going to be we have those in the can be the best fields. In the original contractor that's going to get their house we have or. The asylum to compare contrast. And but the only to compare the country are consistent that the scope of what. You mentioned earlier and that they should look at the other out in the neighborhood that they've been the constant comparable sales culpable mental. And you are cost of these little better than the competition. Best product that's part. That you have to have a scope of work because so that I have a lot of members that they'll come and you know. It is better. There and watch it on 1410181020. And then there's no way to compare that that probably happened because they didn't stroke the scope or the disposal. Of furcal walked in the this is how they did did that enough of the scope what. But they need to get you back opal laid out what they want to do and a house to make it better than me. In the competition. And in each been in the system. Than schools what. As that sounds like a really doesn't process. And I am sure that there's people out there Sarah who are going wolf Hershey attitude back. Great but when you heard in win here in the middle of all of this and it's it it's a quick moving deal. It's easy to forget. The steps and that's why for our members we put together the single family time line checklist which is a checklist in the order. In which you do things and it's everything you need to do in a single family deal. In order to make sure you're not skipping any part of the process and part of this as you said Wright is putting together your team before you even start. Looking at deals. And then making sure you get those competitive bids that you create your scope of work to go out to everybody and have them quote on the same scope of work. In what what's the next thing you see after that once we get that corrected if we get them on track the hair. What's the next most common thing that you see. It is not I think everything approach and you know. We know that you're evaluating property is Asian language department determine if you even want a coach that. But you know you get an inspection. And everything that the fixing our vision and that of course. It is been even that it has going to want to hurt someone who wanted to return compared. So you know didn't necessarily pick every single and twenty page inspection reports the she knows that he's been through aren't most of the important thing that you give the two year contract is that part of it and there are there. And you people what they estimate that have the power play what he said. That you don't opponents say this step further than that everything that. May not be. A problem to date that is squander their potential problem there in the permit to Omaha. In your world speaking out arbor place salute that won't stop leaking that it had very limited life Lipton it. I'm toast and a feed that was worked means cooling. Perfectly content but the inspect this it'd probably only had a year left in the mark buckle that instantly contract compared. And the numbers don't work I was able to buy the property. I think for the news and a new. If it into the and they still want. And it's all about figuring that out. On the front end and there are people out there listening who were going wow now that's not how you make money and real estate you know this is a lipstick on the pig. Business. And to replace everything that's not leaking to replace an ATC system that still cruel link that's crazy. Offensively we come back from this break we're gonna tell you why it's not crazy and why we make more money. Then investors with that philosophy do. Because. We're looking for passage that we don't wanna be falls properties every day. So we're to talk more about that how do you kidney realistic as the real experience and your feet. My dad passed it right here through this last break movie that happened today show and our conversation on the species LC investors us time. Thirteen seventy. Then. We're back at the last segment of today's lifestyles unlimited Allstate investor radio show I'm your host Glenn Merling today we've been working on your financial freedom with the conversation about the things we see real estate investors do. They cost them unnecessary time and money. I guess today it's around warrant aid. Experienced real estate investor active in the market as we speak and he is also a single family venture with lifestyles and limited. We've been talking surround about some of the things that we we see people do. And you kind of wrap up this concept forest here in our last segment help people understand the importance of determining your red map and sticking to it. There. We really we're talking about people. Not their fingers in front line of people he felt like there's Flacco are what sort of the page and he did everything right up front because of the constant. Did you going to eliminate problems on the road illuminate and petitions are on him a question of achievement in my mind that this is indeed the we go to populate it with the unions and support condition. By the governor's request our collective every single that will be in route. Hard worker who goes on our quarter. But some water meters everything has apartment that we have lots of apple in it. At least in you minimize make it. And that much I'm much more financially advantageous to remember too that get those calls and I thought. Well you know all the numbers what cash flow as a parent for her works will be consistent. Are bouncing balls salute what about about remained the here and he used her property. And that's why we don't want people think that shortcut and I have a property and knocked it as well. Because otherwise your right into that cycle that everybody's hurt right real estate tenants Texas and toilets. And you know you you start with those maintenance calls. Dan your tenants get upset. Because they feel like you're some art it's you know you know that this this isn't working you know that we had all this HE HBC problems either heating or cooling. And and yet it doesn't get fixed in its maintenance cost to meet its call after maintenance call your having indirect your life to deal without. Then you're tenets that so upset they leave in you've got to release the property. So. One of the things that we do as a mentor is is help to hold people on track. If you started the show by talking about. Sitting down with real estate investors and helping them create a map. They did some for where they are right now this can't start anywhere else right pastor from where we are. To where they wanna go. And then. Holding them on to that path just like it GPS. Right just turn right turn left right. Goes straight merge onto the highway and get tier destination which is creating wealth than passive income. And what you're talking about is the difference between active and come more real estate investors are running around they're going to houses they're working on of themselves. They're costly taking calls are constantly looking for tenants are constantly having issues. And the real estate investors like us who yet sitting on the bench with nine of your closest friends. It integrates if edit it you know we may take it a couple calls a year usually over simple things that we can tell them how to fix on the phone and it it's. It the difference between holding a model. And making sure that all the numbers are there are fronts he conceded that the bill doesn't work sir all what do they need to do. Well maybe if you like it very. Are they entitled are each step of the way. And then before they make that decision and the costly within the system of the election. And the minister. If they don't those numbers oh yeah. And we do all those numbers and they don't work you have to have the discipline to not lie to her. He would that work in the rooms is they're correctly when I guess they want the members that host the road trip chic on in November last year you Boehner or house. And she wanted to retire next year she and here are accurate puncher and won't be able to be in the position to retire and probably is about to your opponent it's. If you follow them out. And that's really fantasy is she's gotten over her fear that the member that we we mentioned earlier in the show whose. Struggling with making that that first choice in buying that first property it's. It's so fun won't we can get. Give our members over that hump. They get the first one they get through it. And then they get the second one you're still a little nervous. And then they can find fasten afraid any Derek are so excited they got a process down now they've got a team that they're used to working last. All of their contractors their lenders insurance agents. And then it's a beautiful thing to watch him work the system isn't it. Yeah. So we're coming to the end of our show it is throughout thank you so much for joining me it's wonderful to have an active. Investor as well as a mentor on the show to share your experiences are really appreciate it. But you will probably be at about. So we're glad you joined us today we're winding down our show where you hope that today has been a site for for you it's really important to set your map. And then to stay on your map to get to your destination don't let it could life get in the way of a great life because. You have to keep going until you fully into retirement because that's what it's all about. My name is glimmer of thank you for spending some time with Ian throughout today on the lifestyles on limited real estate investor radio show look forward to seeing you again soon. Right here. Remember it's not the money it's the lifestyle. Thanks for listening to the lifestyles are limited real estate investor radio show remember that this show is for entertainment purposes only. And should not be construed as legal investing vortex sites results may very always consult a professional before making any financial decisions if he'd like to find out more about the mentoring available at lifestyles and limited please visit them online at lifestyles unlimited dot com.