Big Law Capitalist Big Law Capitalist

We have DeRosa Group CEO & BiggerPockets Contributor Matt Faircloth on the show!  Real estate is a powerful vehicle for transformation. It can provide stability and security that a family needs to get ahead, and it also creates opportunities for entrepreneurs to build wealth. When we invest in real estate, we’re not just helping ourselves—we’re helping to make neighborhoods better places to live.

That is the mission statement that defines this episode. In this episode, Matt Faircloth shares his journey and tips on how to transform lives through real estate.

Here are some power takeaways from today’s conversation:


Scale smartly.
Work hard to get your brand out.
Always be ready to pivot.
Be patient and creative when investing.
Adopt a positive mindset.

Episode Highlights:

[08:46] How to Scale Smartly

Investing a large amount of money is a behemoth to manage. You have to work your way into it. Start small and do deals with your own money. Double your portfolio every time you do a deal.

[20:37] Investing with DeRosa

Some reminders for people who want to invest with the DeRosa Group include a.) Be patient. It takes time to build cash flow. b.) They invest in specific markets so you have to be okay with their markets because they have assets and operations in place already. c.) Believe in transforming lives through real estate.

[24:20] The Current Real Estate Market

The real estate market is slowly but surely coming back to a level of reasonability. But it does not change overnight. You must be patient and creative. Look at other asset classes besides housing. Find deals that make cash flow on the first day.

[32:26] Create a Positive Mindset

Your thoughts and words create your life. So try to think and speak optimistically. Things work out when you think and speak positively about things. Focus on what you want and fight for what you believe in.

Notable Quotes:

[10:36] “Put your ego down and just double your portfolio every time you do a deal.”

[29:27] “Find deals that make cash flow day one.”

[32:39] “My thoughts and words create my life.”

Resources Mentioned:

BiggerPockets

Raising Private Capital: Build Your Real Estate Empire Using Other People's Money by Matt Faircloth

Rich Dad Poor Dad by Robert Kiyosaki

Conversations with God by Neale Donald Walsch

Reach out to Jeremy on LinkedIn and Instagram

Finding your niche as a real estate investor is important to pave success, and the short-term rental space is a lucrative space to consider if you know how to do it! Once you learn how it works, you will see how much capacity it has to bring in BIG amounts of cash flow. The question is, how do you begin?

In this podcast episode, Graham Singer, the co-founder and co-CEO of real estate investment firm Blue Pine Advisors, joins us to talk about his journey investing in the short-term rental business. He tackles the importance of understanding the market to find the niche that works for you, finding the right people to do the investment with, and finally, overcoming the fear of taking big risks to deliver bigger returns.

Here are some power takeaways from today’s conversation:


Find your niche and monitor the market.
Find people to work with you instead of going it alone.
Look for ideal locations to fit your niche.
Budget for high-quality property management.
Expand your network.

Episode Highlights:

[09:04] Lessons from the First Property

Go for an easy and low-risk property for your first investment. The first property is always a lesson to learn from - how to purchase, renovate, manage, refinance, and repeat. Over time, you’ll learn how to achieve bigger results.

[20:06] Finding Your Niche

It’s not all about just buying the first property you set your eyes on and turning that into a business. You need to find your niche by understanding how the market works. Graham decided his niche would be in luxury short-term rentals that can house a large group of people. He understood the high demand and low competition in that space. He also focused on purchasing properties in luxury locations and renovating them with luxury amenities, staying true to his chosen niche.

[28:42] Find the Right People to Do Business With

There are benefits to purchasing an Airbnb individually, but there are far greater advantages when not investing alone. Funding and management become much easier. Aside from partner investors, you’ll also want to connect with property managers, maintenance groups, etc. Expand your list of buyers and your business network.

Notable Quotes:

[20:53] “The whole logic with our investment strategy is there are far fewer luxury short-term rentals than there are studios.”

[29:52] “If you do go out in Airbnbs, you have to climb the algorithms. So your first few months aren’t going to be your best months.”

[31:48] “I would encourage people not to go out and do it yourself. Invest with you, invest with me, and let us do it because there are a lot of nuances.”

[41:01] “If you see something that’s probably too high to believe, it probably is.”

Links to Resources:

Connect with Jeremy: LinkedIn

Big Law Capitalist: Instagram | Apple

Connect with Graham: LinkedIn

Blue Pine Advisors: Website | LinkedIn

Funds: Private Equity, Hedge, and All Core Structures by Matthew Hudson, available on Amazon

AirDNA: Short-Term Rental Data Analytics: Website

The differentiator between good investors and great investors is the ability to spot opportunity in places others may not be looking.  This applies in traditional real estate and in the PropTech space.

There are no easy answers, but if you’re willing to work hard and think outside the box, you can reach extraordinary levels of success.

In this episode, Paul Wakim joins us to talk about how he entered into real estate investing and ultimately co-founded TwnSqr, a PropTech company. He discusses his entrepreneurial journey from starting a successful real estate photography company to developing a tech start-up that is disrupting the $226bn real estate sales and brokerage industry.

Here are some power takeaways from today’s conversation:


Don’t be afraid to act on opportunities when they present themselves.
Adopt a problem-solving mentality.
Expand your real estate network.
The goal should be obtaining freedom of choice.

Episode Highlights:

[06:30] Why People Sell

Real estate would not exist if people did not want to sell their homes. So Paul learned how to code and built an algorithm to interpret the reasons people want to sell and how to find motivated sellers.

[09:15] Defining “Wholetailing”

Retail real estate is the traditional act of buying and selling real estate. Wholesale real estate is selling the contract to purchase before you purchase it. Wholetailing involves finding motivated sellers, purchasing the property, and then selling it to a buyer for a profit immediately after purchasing it.

[17:05] Exploring the Benefits of TwnSqr

TwnSqr is a marketplace for real estate investors and sellers to buy and sell properties themselves. They also have tools to support investors.

One of the defining tools of TwnSqr is that real estate investors can bring a property to the platform as well as their buyers list. Users are also able to share assets with each other. That allows investors to make connections and collaborate. TwnSqr is aiming to own the off-market inventory space in PropTech.

[26:09] What Drives Paul

He simply wants to have freedom of choice - to do exactly what he wants to do whenever he wants to do it. And the only way to get there and achieve that pure freedom is through hard work. He is now working remotely and can travel freely.

Notable Quotes: 

[8:01] “There is no such thing as real estate if somebody doesn’t want to sell their house.”

[21:23] “The guys that transact in high volume that keep their buyers continuously happy, they’re the ones that are getting the most value from the platform.”

[27:29] “I want to be able to do exactly what I want to do whenever I want to do it. And the only thing that I’ve known to get me there is just brutally hard, hard work.”

Resources Mentioned:

BiggerPockets

TwnSqr

Paul Wakim: LinkedIn

Reach out to Jeremy on LinkedIn and Instagram

Connect with Paul on LinkedIn.

Apartment syndications are one way to substantially diversify your real estate portfolio and access the immense benefits that commercial real estate ownership can provide. It allows you to hold different assets in your portfolio without having to be on-site or hyper-familiar with the particular location of the investment. However, most people still do not understand how it works.

In this episode, Jonathan Tonks joins us on a deep-dive into the syndication model — its benefits and how it helped him aid more people from a financial standpoint.

Here are some power takeaways from today’s conversation:


Geographic diversification is important in building a strong asset portfolio.
Relationship building is critical for scaling.
Stay involved with your partners throughout the entire syndication process.
Operate with a service mentality.

Episode Highlights:

[11:11] Jonathan’s Investing Strategy

His early mentality was to look at 20 to 50 assets available in his local market. However, his mentors taught him to aim for better growth markets and opportunities. This means buying higher price points and diversifying geographically.

[13:28] Defining Syndication

Syndication is an incredible way to gain substantial wealth and exposure to real estate. Simply said, syndication is partnering with individuals to purchase and acquire an asset that is not necessarily real estate.

[17:25] Why You Need to Diversify

If all your assets are centered in one city, you will be capped by the limits of that city. This is why it’s important to have assets in different areas. And this is where the syndication model comes in handy.

[19:22] Two Types of Partners

The syndication model has an active partnership team and a passive partnership team. The active group or the general partners (GPs) consists of everyone who is part of the acquisition. The passive group or limited partners (LPs) consists of the people who are contributing equity capital to help close the properties.

[26:21] Jonathan’s Underlying Mindset in Syndication

Jonathan believes in the service mentality. He wants to introduce syndication to people because he knows it can change both lives from a wealth perspective. It is less of the money aspect and more of building a relationship with his partners in the long term.

Notable Quotes:

[8:32] “Get your money working at a good number and continue to do that because over time that's going to build wealth. That's how you obtain that substantial number.”

[8:54] “If it’s getting you in a better position than you otherwise would have been in, that’s a good house hack. That’s a good investment.”

[31:09] “That's how I sort of approach everything every day: service abundance. And from there, we can all win. Right? There's no zero-sum game.”

Resources Mentioned:

Rich Dad, Poor Dad by Robert Kiyosaki

The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges

Provision Space

jtonks@provisionspace.com

Reach out to Jeremy on  LinkedIn and Instagram

Connect with Jonathan on LinkedIn and @provisionspace 

Embracing and enjoying the process is critical to achieving greatness, which applies in your everyday life and in real estate. Your circumstances will never be perfect, so you must learn to enjoy the discomfort in your pursuit of self-improvement and, ultimately, in your pursuit of greatness.

Joe Kovacs, American Shot Put World Champion and Olympic Medalist, joins us in this episode. He shares his “pursuit of greatness” mentality that helps him power through challenges in order to constantly improve himself, both in his sport and in investing. He relates this way of thinking with how he approaches real estate investing.

Here are some power takeaways from today’s conversation:


Embracing delayed gratification is critical to achieve a massive payoff.
Don’t expect things to be perfect, so become comfortable with being uncomfortable and adapting.
Be ready to put in the work and grind if you want to achieve greatness in your life.
Investing now in passive income that will benefit you later provides you with freedom of choice.
Understand and appreciate the importance of calculating the principal paydown when looking at the benefit of real estate investing.

Episode Highlights:

[11:49] The Importance Of Seeing The World

Joe and Ashley’s careers take them around the world. He believes going to different places will benefit his kids because it will help widen their perspectives.

[14:09] Measuring your success against yourself

Joe loves how the shot put has a definite measurement of success. For example, you could have two not-so-good teams playing basketball and still get a winner. In the shot put, you put yourself up against a constant, all-time measurement.

[26:00] Embrace The Grind, Work, And Discomfort

Joe emphasizes the need to embrace the discomfort in trying to improve yourself,as well as when dealing with real estate investing. Expecting everything to be perfect will get you nowhere. Instead, you must put in the work and trust the process. Familiarize yourself with the growth opportunities that discomfort can bring you.

[38:29] The Exciting Part About Real Estate

Nobody ever really computes the principal paydown for real estate. People just focus on investment returns or how much a house could sell for. Joe thinks this is one of the best parts of real estate. He can have other people pay his bills for him and generate net worth and value for his family.

Notable Quotes: 

[09:24] “I feel like there's gonna be all these little moments along the way that just kind of take your breath away and put things in perspective.” — Joe

[15:52] “Kind of what I've learned from my sport is I'm constantly putting myself to a test.” — Joe

[17:42] “If I didn't have all those losses to get to this point, I wouldn't have had the current win.” — Joe

[26:55] “You have to be willing to get to that grind to get to the adaptation because just expecting to be better - that's a false game.” — Joe

Resources Mentioned:

Reach out to Joe: Website | Instagram | Twitter

Reach out to Jeremy: Instagram | LinkedIn

Experiencing both poverty and wealth in one lifetime provides a broad perspective on life. It allows you to see the importance of showing up, taking advantage of opportunities, understanding the value of building wealth, and moving through life with a true sense of appreciation. It also shows you the power that empathy can have on you and others.

Josh Nadzam, a professor at the University of Kentucky, former D-1 collegiate athlete, and founder and Board President of On the Move Art Studio, joins us on this episode. He shares his incredible journey from poverty and hopelessness to achieving extraordinary success, and the mindset that was required to make it happen.

Here are some power takeaways from today’s conversation:


The power of having a positive role model can be pivotal.
Success requires extraordinary perseverance.
Showing up can make all the difference.
Investing even a small amount can go a long way.

Episode Highlights:

[06:14] Josh’s Early Years

Josh had a rough childhood and grew up in a neighborhood riddled with crime, violence, and drugs.  His first eighteen years involved poverty and an unstable family situation, more so due to his father. He did well in school but got kicked out of class and got into fights. His basketball coach was one of the first positive male influences in his life.

[14:05] Why Showing Up Is Crucial

So many people show up every day working tirelessly, even without the assurance of results. Think of those trying to develop a cancer cure. Josh finds this inspirational. That’s why he wants to show up every day and grow old knowing he gave his all.

[24:06] The Importance of Investments

Growing up wasn’t easy for Josh, partly because of his family’s finances. With Jeremy’s help, he began making low-risk investments. He invested when he had a little extra cash  and saw it grow. That highlights how big of a help passive income is.

[28:05] Empathy is Critical to Achieve Success

Josh believes being poor takes much more work than most people realize, especially after experiencing it firsthand. He also saw it with how his mom had to work herself to the bone when he was younger just to make ends meet. Not only that, Josh calls on everyone not to judge those in poverty.

Notable Quotes:

[04:25] “I wanted to be the helping hand as much as I could to help people in similar situations like mine.” — Josh

[09:31] “If you plot my trajectory, that was one of the points where, suddenly, things started to go up because it was really one of the first positive male influences I had to kind of stabilize me.” — Josh

[14:14] “I don't know how to solve racism and homelessness and poverty, but I want to try my best to contribute to those solutions.” — Josh

[14:30] “There are so many people who show up every day trying to find the cure for cancer, and they have no idea if we actually will in their lifetime, but they keep showing up and they keep testing things…[I]f they are showing up for that, we all have to show up” — Josh

Resources Mentioned:

On the Move Art Studio: Website | Facebook | Instagram

Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones by James Clear

Reach out to Josh:  Website | Facebook | Linkedin 

Reach out to Jeremy: Instagram | Linkedin