Real Estate Mentor Jonathan Klunk

In this episode of the Real Estate Mentor Podcast, host Jonathan Klunk and guest Scott Harper, a real estate attorney from Bluegrass Land Title, delve deeper into the intricacies of 1031 exchanges.

They revisit the fundamental aspects of 1031 exchanges, addressing the process as a tax deferral mechanism for investment properties and not primarily a tax avoidance strategy. Jonathan and Scott explore more technical questions commonly raised by investors, such as combining funds from multiple properties for a single larger purchase, the impact of timelines on the exchange process, and the concept of 'boot' or taxable gains.

Discussions also cover seller financing within 1031 exchanges, the flexibility in 'like-kind' property exchanges across states, and creative strategies for managing investment goals and tax implications. The conversation provides insights into utilizing 1031 exchanges for optimizing real estate investments and navigating complex scenarios, ensuring investors and real estate professionals can make informed decisions.
(00:31) Deep Dive into 1031 Exchanges with Scott Harper
(01:30) Exploring the Basics and Technicalities of 1031 Exchanges
(04:33) Advanced 1031 Exchange Strategies: Combining Properties and More
(06:57) Understanding 'Boot' in 1031 Exchanges and Investment Strategies
(12:20) Creative Financing and 1031 Exchanges: A Complex Scenario
(18:01) Addressing Unique 1031 Exchange Scenarios and Closing Thoughts

Reach out to Scott Harper

Instagram - @bluegrasslandtitle
Facebook - https://www.facebook.com/bluegrasslandtitlelou
Email - sharper@bltky.com
Check out the previous episode with Scott Harper HERE: 
1031 Exchange: The Legal Way to Avoid Real Estate Tax with Guest Scott Harper

More about Scott Harper
Scott Harper is a distinguished Kentucky-based real estate attorney with a specialized focus on 1031 exchanges. A proud alumnus of the University of Louisville Brandeis School of Law, where he graduated in 2015, Scott has seamlessly integrated his legal acumen with a keen understanding of the real estate market.
Currently serving as the Market Manager for the Louisville, KY Bluegrass Land Title Office, Scott's expertise lies in facilitating smooth and efficient real estate transactions. His role as a qualified intermediary for 1031 exchanges underscores his commitment to helping clients maximize their investments while navigating the complexities of property transactions.
Beyond his professional responsibilities, Scott is renowned for his investor-friendly approach, earning him a reputation as a trusted advisor in the real estate community. With a passion for both law and real estate, Scott Harper continues to make significant contributions to the Kentucky real estate landscape, ensuring his clients' interests are always at the forefront of his practice.
 

Jonathan Klunk interviews Danaus Chang, the co-founder and president of Awning, a technology company specialising in long-term and short-term rental property management.

Danaus talks about growing up in an immigrant family that invested in real estate, his own initiations into property investment, and his goals influenced by the FIRE (Financially Independent Retire Early) movement.

The conversation covers topics like the significance of setting clear investment goals, understanding passive income, and efficiently managing properties. Danaus demonstrates how Awning.com potentially serves as a valuable resource for individual real estate investors, providing them everything from real estate agent contacts to property management services.
(01:05) Danaus’s Early Life and Parents' Influence
(02:10) The Accidental Landlord: Parents' First Rental Property
(02:46) Growing Up in a Real Estate Family
(04:08) The Concept of House Hacking
(06:47) Danaus’s Early Real Estate Experiences
(07:09) Transitioning into a Real Estate Career
(07:49) First Steps into Property Ownership
(11:13) The FIRE Movement: Financial Independence, Retire Early
(20:02) Setting Real Estate Goals and Strategies
(26:36) Introduction to Awning: A Real Estate Investment Tool
(27:39) Closing Remarks and Podcast Outro

Reach out to Danaus

LinkedIn https://www.linkedin.com/in/danaus/
Email: danaus@awning.com
Awning https://awning.com/

More about Dennis Chang
Danaus Chang is proud to be Co-Founder of Awning (Awning.com). Awning is the world’s first technology platform and brokerage built exclusively for individuals to invest in single-family rental properties, on a mission to make investing in real estate simple and accessible for everyone. They pair world-class data analytics with a team of expert advisors to help every individual investor identify, evaluate and close on single-family rental properties that meet their investment goals across nationwide markets. They are proudly backed by Global Founders Capital, MassMutual Ventures, Wilshire Lane Capital, and dozens of strategic angels.
Danaus is passionate about scaling tech startups; especially Proptech, Fintech, AI, Insights, & all things B2B SaaS. He also love love love antiquated industries/markets that are prime for disruption (vertical saas/marketplaces).
His operator experience includes scaling Sales & BD teams for VC funded tech companies (Awning Founder, UserTesting VP, Rentlytics SVP), leading go-to-markets for an Enterprise tech/services start-up (AnswerLab VP), product/marketing strategy for Fortune 500 (Pulte, Lennar; Deloitte Consulting).
He enjoys matching up people with opportunities and opportunities with people. He's here to help - so reach out to him.
 

Jonathan Klunk speaks with guest Stephanie Gilezan, a partner at Capital Connect, a business brokerage, and an expert in restaurant franchises.

They discuss the benefits of purchasing an existing restaurant franchise, such as instant equity, avoidance of complicated startup costs, and established brand credibility. They touch on the opportunities that lie within aging baby boomer-owned companies as potential establishments to acquire.

The discussion further includes how banks approach financing for this kind of investment and the potential for owner financing options. The episode also discusses the importance of proper tax structuring and how it can enhance the net income of a business. Stephanie emphasises the value of experienced teams performing more in-depth analysis of opportunities and valuations prior to purchasing businesses.
(00:30) The Benefits of Purchasing an Existing Restaurant Franchise
(00:59) Comparing Startup Costs: New vs. Existing Businesses
(01:24) The Impact of Baby Boomers on the Restaurant Space
(01:55) The Challenges of Building a Brand from Scratch
(02:44) The Advantages of Purchasing Existing Franchises
(03:43) The Importance of Hiring the Right General Manager
(04:33) The Potential Savings of Purchasing Existing Franchises
(04:59) The Challenges and Rewards of Building a Business
(05:58) The Impact of Generational Wealth Transfer on the Market
(06:45) The Possibility of Passive Investment in Franchises
(08:10) The Importance of Having the Right Team in Place
(10:00) The Potential Pitfalls of Independence in Business
(17:24) The Role of Tax Structuring in Business Valuation
(20:27) The Financing Options for Purchasing Existing Franchises
(27:42) The Impact of Proper Tax Structuring on Business Value
(32:17) Conclusion and Contact Information

Reach out to Stephanie

Facebook: https://www.facebook.com/gilezanglobal
LinkedIn: https://www.linkedin.com/in/stephanie-gilezan/
Instagram: https://www.instagram.com/gilezan_global/
Email: stephanie@gilezanteam.com

More about Stephanie Gilezan
Stephanie Gilezan began her Real Estate career in 1999 at 21 years old. She has specialized in Commercial, Land Development, Asset Management, Industrial, Distressed Assets and Hospitality since her start. Throughout her career, Gilezan has transacted over 10,000 Real Estate and Business transactions across the nation and in multiple countries. Fueled by her passion to disrupt and improve the industry, Gilezan has dedicated herself to education and collaboration while building a strong team which has done more than 3 billion in volume.

Host of the Real Estate Mentor podcast, Jonathan Klunk, speaks to his very own business coach, Jason Ballard, about time management and productivity within the real estate business. They discuss the importance of setting clear and attainable goals, understanding the value of one's time, prioritising tasks, and blocking out time for different activities. They also touch on how to balance a full-time job with a real estate side hustle, and the need for continuous learning and mentorship in the real estate field.
Info:
LinkedIn Profile: https://www.linkedin.com/in/jason-ballard-795a0587/
Official Website: https://soarhighercoaching.com
Soar Higher on Youtube:  https://www.youtube.com/playlist?list=PL6In56c2XhCkz7RTLTmrqPoEfEub78vZ7

(01:45) The Importance of Goals and Priorities
(02:46) Assessing Your Current Life and Career Status
(09:47) Understanding the Value of Time
(16:18) The Concept of Time Blocking
(23:31) Taking Control and Owning Your Priorities
(24:53) A Real-Life Example of Mismanaged Priorities
(25:15) The Consequences of Neglecting Big Opportunities
(27:11) The Eye-Opening Realization
(29:43) The Importance of Prioritizing Your Calendar
(31:23) Balancing a Career and a Real Estate Side Hustle
(32:32) Understanding Your 'Why' in Side Hustling
(38:05) The Importance of Being Informed and Efficient
(43:43) Closing Thoughts and Contact Information
More about Jason Ballard
Jason Ballard is an entrepreneur and Founder/President of Soar Higher Coaching & Training. He serves as the #1 Ranked Business and Executive Coach in the Eastern U.S. where he leverages his 27+ years of Real-World leadership experience to accelerate the growth of career professionals and organizations to desired levels of success and reach their full potential faster than they could on their own.
His diverse background involves leading 12 different organizations world-wide to new heights and includes: growing up and working in a family-owned construction company, serving as a senior
officer in the U.S. Air Force, operating in numerous C-Suite corporate roles, starting multiple
companies, and serving as a trusted advisor to political leaders, celebrities, and dignitaries throughout his distinguished career.
Jason has a deep passion for helping others succeed. He is actively involved in various aspects of the community. He has cultivated public/private partnerships with government agencies, corporations, and non-profit organizations. He has served on numerous boards and committees and has been a lifelong volunteer supporting veteran organizations, mentoring in schools across the country, and raising funds and donating time for Church missions and charitable campaigns.

In this episode of the Real Estate Mentor podcast, host Jonathan Klunk converses with Cora Henderson, partner and attorney at Pitt & Frank, about the rising trend in office conversions. 

We discuss the challenges and opportunities in the real estate sector, highlighting the impact of various factors such as COVID-19, generational wealth building, and the influence of technological advancements like AI on the future of real estate.

The conversation also explores the potential of converting vacant office buildings into residential or multifamily units due to changing work and office culture, the urgent need for affordable housing, and trillions in commercial real estate loans coming due.

We further explores the prospect of converting office spaces into data centers, given the growing necessity for cloud-based solutions.

(00:28) Guest Introduction: Cora Henderson
(00:51) Discussion on Office Conversions
(01:51) Current Landscape of Office Sector
(06:08) Challenges in Converting Office Spaces to Multifamily
(08:20) Potential Investment Opportunities
(13:42) Impact of AI and Cloud Computing on Real Estate
(18:58) Future of Energy Projects
(20:42) Closing Remarks and Future Opportunities

More about Cora Henderson
Cora Henderson is a partner at Pitt & Frank, specializing in residential and commercial real estate closings, contract disputes, 1031 exchanges, and estate planning. She received her Bachelor of Science in Business Administration-Management from the University of Louisville, and graduated cum laude from the Brandeis School of Law. Cora has faithfully served as a board member for Mortgage Bankers of Louisville, Mortgage Bankers of Kentucky, GLAR education faculty, GLAR Board Forms committee, Kentucky Realtor Institute educator, and was the 2019 recipient of the Nat Sanders Educator of the Year. She is also a part time instructor for the University of Louisville teaching Real Estate Law.
Info:
Website - www.pittandfrank.com
Instagram - @Pitt.and.Frank
Facebook - PittandFran
LinkedIN - https://www.linkedin.com/company/pitt-and-frank

🎤 Podcast post-production by EZPZ Podcasting.

Estate planning has to be one of the most complex and foreign topics to most real estate investors. Yet, it is one of the most important as you spend your life generating passive income, building wealth, and taking advantage of tax strategy through 1099 exchanges and cost segregation. You can even have a will- but what happens to your empire once you die? Plus, add in the complications that could present for your heirs. 
Jonathan recently met a state planning attorney, Sean Lohman, to discuss the situation with his parents and their property. Sean explained very complex topics, such as wills and trusts, power of attorney, beneficiaries, medical or healthcare power of attorney, and so much more. He also found some gaps in Jonathan’s own estate planning. And what real estate podcast would be complete without covering this super important topic for you?
Sean is an attorney at the Lohman Law Offices, a second-generation law firm in Louisville Kentucky. Sean specializes in estate planning and is also the host of the Uncontested podcast. 
 
Visit lohmanlaw.com to connect with Sean Lohman and begin your estate planning. 



Want to learn more about launching and scaling your realestate business through short term rentals? Send us a direct message on Instagram @top.louisville.agent, @thejustinreid, @selling.derby.city or send an email to jonathan@sixdegreesre.com.
 
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Subscribe on YouTube to watch Season 1 of the Selling Derby City podcast. Be sure to check out our blog to see everything we talk about in each episode and so much more.  
 
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