
391 episodes

Real Estate Investing with the REI Mastermind Network REI Mastermind Network | Real Estate Investing
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- Education
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5.0 • 84 Ratings
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We gather amazing stories from leaders in Real Estate Investing. In each episode, our guests will tell you what they are doing that works, what they tried that failed, and best of all you'll learn actionable steps to take your real estate investing to the next level.
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Embracing Change: Joel Friedland's Transformative Journey in Industrial Real Estate
Joel Friedland is a professional in the industrial real estate sector. His expertise lies in the unique nature of industrial properties, which he distinguishes from commercial real estate. He emphasizes that industrial properties are their own asset class, separate from office and retail buildings. With a focus on manufacturing and distribution, Joel Friedland understands the importance of features like truck docks and ample space for workers to produce and package goods. His insights into the industrial real estate market make him a valuable resource in the industry.
Connect with Joel Friedland at https://britproperties.com/
Topics & Bullets:Importance of Mentorship and Personal Growth
Finding a great mentor for personal and professional growthTransition from being impulsive and aggressive to mature and experienced in handling business relationshipsMentoring relationship with Milt PodolskiAdvice to his younger self about assessing risks and self-awareness in business
Business Partnerships and Conflict Management
Challenges in dealing with partnership conflicts in family businesses and real estate venturesImportance of tolerance, acceptance, and cautious partnership evaluationUsing analogies such as jazz music and sports to illustrate handling conflicts and problems in business dealingsValue of delegating tasks to individuals with expertise and not being a control freak in business operations
Real Estate Investment Strategies
Unique business model of all-cash, no-debt deals in real estateSuccess of all-cash deals in appealing to a specific market segmentNavigating challenges during the 2008 recession through open communication with investors and tenantsRisks and cautious approach in industrial property business, especially the impact of vacancies and the all-cash approach in their deals
Decision Making and Business Operations
3-part decision-making process involving a mindset of Wait, an 8-person advisory board, and journaling for thoughtful decision-makingImportance of communication during challenging times and cautious partnership evaluation Consultation with a spouse in business decisions
Real Estate Expertise and Industry Associations
Specialization in industrial real estate as a member of the Society of Industrial and Office RealtorsDistinction between industrial real estate and commercial real estateTransition from property management to brokerage in industrial real estate
Books and Recommendations
Recommendation of "The Four Agreements" bookDiscussion of real estate investment myths and recommended booksEmphasis on starting with an awkward conversation or it will end with one
Podcast Discussion and Reflection
Relationship dynamics between Jack and Joel Friedland in the podcastExpression of interest in returning to the podcast by Joel FriedlandJack's personal growth and reflections on giving immediate answers
Business Operations and Investment Opportunities
Private placement memorandum and current opportunity for raising capitalFocus on fix and flips in the housing market and the shift towards first-time homebuyers Joel Friedland's industrial real estate investment strategy and raising capital opportunity
Evolution and Growth in Business Operations
Growth from being impulsive and aggressive to being more... -
Redefining Real Estate: Digital Transformation and Investing w/ Matt Shields
We chat with Matt Shields, discussing digital transformation, its benefits, and its implementation in the real estate business. They talk about how digital innovation has streamlined many processes across different organizational domains. They elaborate on concepts such as project management and square footage comparison in real estate investment, and consider the benefits of digital transformation in construction and multi-family investing operations. Matt also shares personal insights from his career and offers advice on communication and adaptability in business.
Connect with Matt Shields: https://www.investinsqft.com/
Topics & Bullets:Challenges in Contracting Industry
Handling pictures and reports in the contracting industry
Benefits of using a method and process for easier report generationShowcasing project transformations with before and after photosThe importance of maintaining control over products or services to avoid overextension and unforeseen competition
Digital Transformation in Construction
Syndication and gathering information to attract investors
Streamlining processes, data accessibility, and reporting to attract investors
Streamlined processes for a waterproofing contractor
Reducing time and improving efficiencySimplifying onboarding for new employeesProviding real-time insights into business operations
Applying digital transformation to construction
Importance of digital transformation and project tracking within real estate constructionUsing a scrum philosophy and weighted systems to manage granular tasks and project progressDigitalizing the process to manage construction in a more accurate and systematic way
Using project management software for organizational growth
Starting with project management software like Trello, Asana, or Basecamp for small businesses or solo entrepreneursBuilding internal processes as different departments emerge Challenges of integrating existing processes with new systems for businesses built before platforms like Asana
Real Estate Investments and Management
Business impact and recommended reading
Reading Chris Voss's book for communication and negotiation skillsRecommending improv classes to enhance communication and thinking on the spot
Pricing strategy for real estate investing
Considering the square footage of comparable properties when setting rent prices
Challenges faced in real estate business processes
Creating reports and managing multifamily properties
Adoption of agile scrum in real estate
Value brought to contractors and project managementDemonstrating the value of transformation for successful adoption
Importance of documenting processes and procedures for scaling a business
The value of a core foundational platform for a businessNeed for younger employees to have digital processes rather than traditional methods
Personal and Professional Development
Using technology for personal well-being
Reliance on the Oura ring to monitor physical activity and sleepComparing the Oura ring's battery life and charging time to an Apple Watch
Lessons learned and recommended practices
Learning from past experiences and maintaining a positive outlook Applying communication and negotiation skills in businessSharing successful practices and podcasting... -
Pursuing Financial Freedom: Joey Mure's Insights on Defining Personal Goals and Achieving Success
Joey Mure is a seasoned investor who understands the importance of knowing oneself before making any investment decisions. He believes that Wall Street has trained people to only focus on the potential ROI of an investment, while neglecting to consider their own unique perspectives, experiences, resources, and goals. Joey has developed a process that helps people cut through the noise of the investment world and make quick, informed decisions that align with their individual strengths and aspirations. By emphasizing the significance of self-awareness in investing, Joey has helped many people take meaningful action towards their financial success.
Connect with Joey Mure: https://go.wealthwithoutwallstreet.com/reimastermind
Topics & Bullets:Defining Financial Freedom and Setting Personal Goals
Importance of defining personal reasons for pursuing financial freedomEncouragement to dream despite societal pressures and normsBeing honest with oneself and seeking accountability from a spouseStory about achieving financial freedom through land flipping
Taking Control of Financial Future
Disproving the misconception that individuals cannot invest on their ownNeed for education and the societal impact of homeschoolingSharing experiences of finding inspiration and like-minded individuals
Building a Plan for Financial Freedom
Defining financial freedom and setting a date for its achievementImportance of setting milestones, building accountability, and being in the right communityLinking financial freedom to emotional goals, such as spending quality time with loved onesSuggesting resources for listeners and emphasizing the value of spending time with like-minded people
Aligning Investments with Personal Values and Goals
Emphasis on knowing oneself as an investor and aligning investments with personal values and goals for financial freedomSticking with investments of interest for greater success and positive resultsDiscussing the success story of a community member after joining their programRecommendations for valuable books and personality profile systems for hiring and building a team
Long-Term Impact of Investments
Viewing investments as long-term impacts rather than short-term expensesConsidering the cost of not investing or making the wrong investment decisions
Reflection and Advice
Reflecting on past financial decisions and advising a younger self to focus on achieving financial freedom earlyDiscussing the importance of understanding one's investor DNA for financial freedom and making available resources for an investor DNA profile
Conclusion and Closing Remarks
Expressing satisfaction with the discussion and appreciating the opportunity to be on the podcast
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Updates and Big Announcement: DealMachine Revolutionizes Skip Tracing w/ David Lecko
Welcome back to the REI Mastermind Network podcast! In this episode, we have a special guest, David Lecko, the founder of DealMachine. David joins our host, Jack Hoss, to share some exciting updates and a big announcement regarding DealMachine. They discuss the game-changing feature of skip tracing, which is now included in the DealMachine app. David reveals how this new functionality allows users to easily find people associated with a property, whether they are owners or renters, along with their contact information, net worth, and more. Jack and David also delve into the importance of simplicity and focus in business, drawing from their own experiences and mentorship. Plus, David offers exclusive Black Friday deals for listeners to take advantage of. Tune in to learn all about the latest enhancements in DealMachine and gain valuable insights into growing your real estate investing business.
Connect with David Lecko: https://www.dealmachine.com/get-black-friday-2023
Topics & Bullets:Introduction
Host (Jack Hoss) introduces guest (David Lecko)Announcement and updates to DealMachine discussed
The Value of Skip Tracing
Skip tracing feature highlighted as a major takeawayImportance of skip tracing for real estate investors emphasizedDiscussion on the benefits of skip tracing in DealMachine
Accidental Demo and Positive User Feedback
Incident during a demonstration leads to discovery of new featureNew feature reveals people associated with the property, including renters and ownersPositive feedback from users in real estate industryDiscusses how this feature expands prospecting capabilities
Automated Property Updates and Paradigm Shift
Updated feature automatically connects property and tenant informationEliminates need for re-skip tracing when tenants moveParadigm shift in skip tracing process discussedAnnouncement of the feature made on November 20th
No More Skip Tracing and the Community's Response
Emphasis on the elimination of skip tracing as a separate processInitial confusion among users about the pricing and featuresHighlighting the value and affordability of DealMachine
Impact of DealMachine in the Real Estate Industry
Speculation about how other services may be affected by DealMachine's featuresDiscussion about DealMachine's functionality and benefits for real estate investorsFocus on driving for dollars and the importance of simplicity
Feedback Mechanism and Product Development
Importance of customer feedback in product developmentMentions use of a feature request portal to gather customer inputBalancing customer requests with the goal of simplicityThe role of a product manager in the development process
Mentorship and Focus
Mentors' influence on David Lecko's focus and business decisionsImportance of focus in business growth and resonance with target audienceExamples of successful entrepreneurs who started with a specific focusLessons learned from personal experiences with diversification
Challenges and Lessons In Business Growth
Discussion on the challenges faced in scaling business operationsLessons learned from an Airbnb venture and the importance of reliabilityImpact of negative reviews and customer experience on business success
Future Developments
Overview of past... -
Building a Fulfilling Lifestyle: How to Make Your Business Serve You w/ David Lecko
David Lecko is a dedicated entrepreneur and founder of DealMachine who exemplifies the value of persistence and long-term commitment. This mindset was instilled in him when he first had an interest in real estate while working tirelessly for a small company, noticing that he worked harder than the owner himself. Curiosity led him to inquire about the owner's rental properties, and he was enlightened on the advantages they offered in comparison to the stock market. The stability, monthly cash flow, and early retirement opportunities presented by real estate investments resonated with David, inspiring him to venture into the world of real estate investing. With his solid work ethic and unwavering persistence, David Lecko has become a respected figure in the entrepreneurial community.
Connect with David Lecko: https://www.instagram.com/dlecko/
Topics & BulletsIntroduction
Podcast name and episode titleHost and guest names
Guest's Approach to Wealth and Business
Having multiple streams of income does not guarantee wealthFocusing on too many opportunities may lead to none of them workingGuest's goal of having his business serve him and live a fulfilling lifestyleCurrent work schedule of 6 hours a day with a staff of 30
Hesitation to Start Another Business
Time constraints and potential impact on current businessConcern for discouraging business partnerValue of partnership and equal ownership
Legal Considerations and Business Disputes
Operating agreement and push-pull agreementInitial disagreement on hiring employeesImportance of communication and improved productivity
Motivation and Market Trends
Responding to pain as motivationWholesaling specialization and market trendsMention of tech job market trends
Personal Milestone and Starting in Real Estate Investing
Guest's purchase of Ferrari after reaching $1,000,000 milestoneAdvice on building up side hustle before quitting jobStarting in real estate with tax-delinquent properties
Mindset and Additional Resources
Importance of mindset in starting a businessGuest's podcast invitationRecommended episode on quitting a job and starting wholesaling
Introduction to DealMachine
Discussion of DealMachine appFocus on simplicity and helping new real estate investorsIntegration of Chat GPT and real estate data
Market Trends and Overcoming Challenges
Trends in interest rates and buyer demandGuest's successful deals meeting the 1% ruleEncouragement to participate in the 30-day challengeWholesaling as a low-capital entry into real estate investing
Features and Strategies of DealMachine
Virtual driving for dollars featureAvoiding analysis paralysis and quitting too soonBuilding a cash-generating wholesaling machineFinding buyers for properties under contract
Building Credibility and Business Growth
Importance of transparency and honesty with sellersFinding buyers through various channelsSending contracts to title companiesBalancing finding opportunities and finding buyers
Personal Growth and Self-Care
Incorporating humor in business conversationsGuest's favorite tool: weightlifting for anxiety and self-careOvercoming anxiety and... -
Nelson Nash's Legacy: Richard Canfield Shares Insights on Infinite Banking and Personal Growth
Welcome back to the REI Mastermind Network! In today's episode, host Jack Hoss is joined by the knowledgeable Richard Canfield, who is deeply involved in the world of infinite banking. As they dive into the discussion, Richard shares his admiration for Jack's program and his strong desire to add value to people's lives. They explore the profound impact Nelson Nash, Richard's mentor in infinite banking, had on his life and financial understanding. Nash's captivating speaking style and approachable nature left a lasting impression on Richard after attending his 10-hour seminar at a conference in 2012. The conversation delves into the crucial lessons Richard learned from Nash, not only about infinite banking but also about relationships and marriage. Reflecting on the recent anniversary of Nash's passing, Richard highlights his dedication and passion for constant value creation. They also tackle the concept of retirement, which Nash believed to be a falsehood, advocating instead for personal freedom and passive income. Join us as Richard shares valuable insights and personal experiences, including his own business mistakes, as he sheds light on the power of infinite banking and its potential to reshape our financial landscape. You won't want to miss this episode of the REI Mastermind Network!
Connect with Richard Canfield: https://7steps.ca/
Topics & Bullets:Introduction of Richard Canfield and his involvement in infinite banking
Richard Canfield praises the REI Mastermind NetworkCanfield's desire to add value to others' livesCanfield's mentor in infinite banking is Nelson Nash
Nelson Nash and his impact on Richard Canfield
Canfield met Nash at a conference in 2012 and attended his 10-hour seminarNash's captivating speaking style and approachable natureNash's dedication to learning and extensive reading habitsLearning about infinite banking and relationships from NashNash's dedication and passion, highlighted on the anniversary of his passing
Retirement as a falsehood and the concept of freedom and passive income
Nelson Nash's belief that retirement is a falsehoodDesire for freedom and passive income instead of traditional retirementNash's insistence on constant value addition and learning
Richard Canfield's business mistakes and lessons learned
Canfield's biggest business mistake: being too trustingThe importance of asking more questions and being cautious in business relationshipsWhat Canfield would tell his younger self and advice for financial optimization
The infinite banking concept and its principles
The infinite banking concept as a bottom-up solutionIndividual control over money and financial systemsImportance of understanding Nelson Nash's work and philosophy
Nelson Nash's use of whole life insurance as a banking tool
Nelson Nash's journey to financial independenceThe concept of infinite banking as a way of life, not just a strategyThe benefits and control offered by co-owning an insurance company
Behavior and effectiveness in utilizing whole life insurance
Whole life insurance as a tool that depends on user behaviorImportance of behavior, including additional deposits, for success
The Kolbe Index and its relevance
Explanation of the Kolbe Index as a measurement of natural instinctual ways of getting things doneRichard Canfield's use of the Kolbe Index with his clients
Generational wealth and benefits of whole...
Customer Reviews
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Great tips for what works and what doesn’t! Love hearing from knowledgeable guests about their real experiences. Great show!
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Best Real Estate Investing advice ever! This show has the best guests who are a wealth of information. If you are an REI veteran or newbie, this show is for you!
Great podcast!
Love the actionable steps discussed in each episode, a must listen.